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Join Our Telegram channel to stay up to date on breaking news coverage Grayscale is unsure whether it needs to refile its Bitcoin ETF application with the Securities and Exchange Commission following its landmark legal win over the watchdog on Aug. 29, CEO Michael Sonnenshein told Bloomberg Television in an interview. Grayscale’s win sparked gains for Bitcoin and the rest of the cryptocurrency market and was heralded as another breakthrough for an industry grappling to fend off the SEC’s regulation-by-enforcement strategy. Sonnenshein told Bloomberg that the crypto asset manager awaited the court’s final decision, and that the SEC has 45 days from the day of the ruling to appeal. The U.S. Court of Appeals for the District of Columbia Circuit ruled that the SEC’s earlier decision to reject Grayscale’s application to convert GBTC into a spot Bitcoin ETF listed on the New York Stock Exchange’s Arca market was “arbitrary and capricious...

The developers behind Shiba Inu have been working to build new utilities and Features for the project. One of their major technical initiatives has been the development of Shibarium , which is planned as a layer-2 scaling solution for the Shiba Inu network. Layer-2 solutions like Shibarium aim to improve transaction speeds and reduce fees by handling transactions off the main blockchain. The stated goal is that Shibarium will provide these benefits for the Shiba Inu network once it is launched. Also read: Grayscale Now Closer To a Spot Bitcoin ETF Launch: Report The release of Shibarium represents a significant milestone for the Shiba Inu developers as they continue to expand the technological capabilities of the project. According to the latest data, the network has hit a major milestone. Source: Shibariumscan Shibarium inches towards a major milestone The recently launched layer-2 network Shibarium has seen rapid growth in adoption, garnering close to 500,000 wal...

The cryptocurrency market – a volatile dance of numbers and sentiments – is stabilizing. Amidst this backdrop, Cardano (ADA) is emerging as a focal point of discussion. Trading at $0.26 when writing, the coin’s trajectory sparks intrigue. Even so, understanding the intricate interplay of market dynamics and investor sentiment is paramount for beginner cryptocurrency traders. The question is: will Cardano plummet to $0.20 or rally to $0.30? The answer lies in the dynamic crypto market forces. The status of Cardano and ADA Historical performance Cardano has been on a roller coaster journey in recent months. After a promising rally towards $0.35, ADA has retraced and is currently changing hands at $0.25. This price level is a critical support, and how ADA pans out in the days ahead hangs in the balance.  You might also like: Charles Hoskinson says SEC will not charge Cardano Significant influences The following have influenced Cardano’s current po...

BlockFi, the now-defunct crypto lending company, has filed a court application to move “ trade- only” assets from users’ accounts to stablecoin s. This move follows the company’s ongoing efforts initiated in August to return users’ funds after previously closing withdrawals. BlockFi filed an application on Aug. 29 to the United States Bankruptcy Court for the District of New Jersey to authorize the conversion of trade- only assets into stablecoin s, including Algorand’s native token (ALGO), Bitcoin Cash (BCH), and Dogecoin (DOGE).  Since these assets can’t be withdrawn easily, BlockFi is proposing a one-time exchange for Gemini Dollar (GSD) or a similar stablecoin. However, it is worth noting that this suggestion comes separate from the other trade-only assets that were available on the platform, including Cardano (ADA), Solana (SOL) and Avalanche (AVAX), which are held by BlockFi International. You might also like...

Binance will withdraw support for its stablecoin BUSD in the coming years. The exchange cited Paxos’ decision to end redemption by February 2024. Since last February, BUSD’s valuation lost more than $13 billion. The largest crypto exchange, Binance, may ultimately withdraw support for its stablecoin BUSD in the coming years. According to crypto market participants on X, the exchange has revealed its intention to cease backing BUSD from 2024. In a recent tweet, Nu Brave, a prominent crypto influencer on X, shared that Binance sent a pop-up notification to its users. According to the tweet’s screenshot, Binance will gradually cease supporting BUSD until 2024. FYI: Binance will stop BUSD in 2024🪙 According to an official announcement on crypto exchange Binance’s app, the exchange pops up a notification for users that they will stop supporting BUSD in 2024. This is an elignment with Paxos phase out for purchasing BUSD by February… pic.twi...

Kaiko reported that Bitcoin Open Interest has declined to its lowest since Terra Collapse. The firm said the decline started in August after Bitcoin recorded a steep decline. Long-term Bitcoin holders continue to accumulate more tokens despite the market downturn. Blockchain analytical firm Kaiko reported that Bitcoin Open Interest has declined to levels last seen during the Terra-Luna collapse in May last year. Kaiko says the decline started on August 17 after the largest cryptocurrency in the world had one of its worst sell-offs yet. The report has raised fears of a steeper decline in Bitcoin’s price. The initial sell-off began earlier in August after rumors surfaced that SpaceX had sold its Bitcoin holdings. What came after was a market reaction that worsened an already prolonged market slowdown. Meanwhile, CryptoQuant recently reported that Bitcoin’s trading volume hit its lowest level in almost five years this month. Following multiple downturns...

Regulators from Rhode Island have approved X’s application for a currency transmitter license. Rhode Island’s regulators have granted X (Twitter) a currency transmitter license marking a step forward for the company’s foray into the financial services sector.  The license is legally required for companies conducting financial activities on behalf of users related to sending and receiving money — a definition that includes both fiat and crypto assets. The approval will allow for X to custody, transfer and exchange digital currencies.   X’s Rhode Island Currency Transmitter License was approved on Aug. 28 according to the Nationwide Multi-State Licensing System (NMLS). X has a total of seven money and currency transmitter licenses. Source: NMLS The move marks an important step forward in Elon Musk’s push for X to become an “everything app” — which would include crypto and fiat payments . While sources have suggested that X's upcoming payments feature will initially only offer su...

This triumph for Grayscale boosted trust in the cryptocurrency industry, leading to greater investor optimism and renewed interest in Ethereum. ETH ’s market capitalization and 24-hour trading volume climbed by 5.27% and 91.86%, respectively, to $208,332,434,577 and $8,763,684,243, reflecting the increased market activity. advertisement ETH /USD 1-day price chart (source: CoinGecko) A break over the $1,742.64 resistance mark might establish Ethereum’s next target at $1,800, drawing even more investors and potentially sending higher prices. If the resistance holds, however, a short consolidation may occur before another effort breaks out. Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must Read Best Crypto Trading Bots List 2023 Mus...

Also Read: MATIC Price Launches Bid for $1.2 With This Massive Protocol Upgrade advertisement BTC’s Rare Flip Below Average On Monday, August 28, 2023, Saylor shared a statistic on BTC price that shows Bitcoin historically trading below the crucial 200 Week Moving Average. Generally, this position has been associated with a bullish wave. Hence, Michael Saylor is indicating that in the current price range, the cryptocurrency is trading at a buy zone, with a potential for upside. “Rarely does $BTC trade below its 200 Week Moving Average,” he said in a tweet. Interestingly, this is one of those rare occasions when the MicroStrategy co-founder shared technical aspects of Bitcoin , unlike the usual statements he makes on the potential of the cryptocurrency. Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List ...

Impact Theory , a media company that sold NFTs to fund its operations, has agreed to a cease-and-desist order with the Securities and Exchange Commission ( SEC ), which alleges that the sale of these NFTs represented an offering of unregistered SEC urities. The order alleges that Impact Theory sold multiple tiers of NFTs to fund its operations and promised it would provide “tremendous value” to NFT purchasers. Specifically, it told investors that it “will make sure that we do something that, by any reasonable standard, people got a crushing, hilarious amount of value .” The company repeatedly made clear that these NFTs were supposed to represent “the mechanism by which communities will be able to capture economic value from the growth of the company they support.” Impact Theory had raised around $30 million from purchasers of these NFTs.  The firm had already agreed to repurchase the NFTs and has now agreed to destroy all of them in its possessio...

Metaverse tokens have integrated into the cryptocurrency setting, forming a significant sector within the ecosystem. Most of the emerging projects, especially those related to Web 3.0, have, one way or another, imbibed metaverse capabilities, making the sector more recognizable in the crypto industry. Some metaverse projects differentiate themselves by performing impressively and competing with the more traditional cryptocurrencies. In consideration of that, the top 5 metaverse tokens of the current week, based on data from Coin market Cap, are Stacks (STX), Internet Computer (ICP), ApeCoin (APE), Decentraland (MANA), and Theta Network (THETA). Stacks (STX) Stacks ranks in the 37th position among the overall Coin market Cap cryptocurrency aggregation. The market capitalization of its native token, STX, is over $1.63 billion, with a daily trading volume of $432.4 million as of the time of writing. Stacks is a layer 2 protocol for smart contracts built on Bitcoin. It...

Introducing Blast ecosystem fund which is now live. Being the most technologically advanced API platform in the Web3 space, Blast stands out as the sole decentralized API platform that can effectively rival traditional and centralized API providers in terms of both performance and reliability. Given the impressive traction achieved in the initial seven months of 2023, the team at Bware Labs has decided to allocate a portion of the platform’s revenue to establish an eco system fund. This fund aims to further enhance the capabilities of the Blast protocol. Amidst the quieter backdrop of the current bear market, Web3 technology is rapidly advancing, leading to more complex blockchain products. Projects are in constant search of enhanced infrastructure solutions to accelerate their growth and manage expenses efficiently. In this context, Blast is distinctly emerging as a favored choice. Boasting response times that are, on average, 2.5 times faster and costs that are 50% lower than is lar...

The monetary authority in Hong Kong released a report on its study Project Evergreen which looked at the highs and lows of recent bond tokenization activity. The Hong Kong Monetary Authority (HKMA) released a report on Aug. 25 detailing the findings of its Project Evergreen study which analyzed the market impact of bond tokenization .  In a 24-page overview, the Hong Kong regulator laid out use cases, benefits and any challenges faced during the study. The concluding sentiment being that tokenization provides improvement for the bond market . Eddie Yue, the chief executive of the HKMA, said the study highlighted the potential of deploying distributed ledger technology (DLT) to real capital markets transactions with the current legal framework existing in Hong Kong. “It also showed the potential in DLT to enhance efficiency, liquidity and transparency in bond markets.” Some of the primary efficiencies of bond tokenization revealed through the study were the ability to go paperless ...

President Donald Trump Makes History As gleaned from his multifaceted post on the Truth Social, the arrest is scheduled to be spearheaded by District Attorney Fani Willis in what will be an escalation of his indictment following the run on the capitol and his challenge to the Presidential election that brought President Joe Biden into office. advertisement BREAKING: Trump to be arrested at 7.30pm ET pic.twitter.com/naP1BIXU84 — Mario Nawfal (@MarioNawfal) August 24, 2023 Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must Read Best Crypto Trading Bots List 2023 Must Read Top Crypto Marketing Firms / Agencies 2023; Here’s Best Picks [Update...

Galaxy Digital set to manage the sale of bankrupt FTX’s crypto holdings and facilitate staking of certain tokens to generate passive yield. The company filed a motion with the District of Delaware Bankruptcy Court on Aug. 24 seeking authorization and approval of guidelines for the sale of digital assets recovered during ongoing bankruptcy proceedings. The filing outlines FTX’s requests and plans to transfer some $7 billion worth of recovered cryptocurrency tokens under the management of Galaxy Digital following the collapse of the exchange in 2022. Related: FTX​ releases restructuring plan, hints at rebooted offshore exchange FTX intends to provision for the potential sale of its crypto currency holdings and stake tokens through Galaxy Digital as set out in its preliminary statement. The filing notes a “comprehensive manage ment and monetization plan” for its crypto currency holdings that intends to reduce exposure to volatility and potential fiat repayments to creditors. FTX inten...

Julian Assange , who is wanted by the United States on 18 espionage charges, is to appear in the ‘ Metaverse ’ alongside former UK Labour leader Jeremy Corbyn as part of a virtual protest against the WikiLeaks founder’s extradition to the US.  Assange will appear at the web3 political rally on August 26 in an effort to raise awareness of and help prevent his extradition. Also giving speeches at the event will be his wife Stella Assange, Corbyn, and WikiLeaks editor-in-chief Kristinn Hrafnsson.  According to a press release shared by event host Wistaverse, “speakers at the rally will appear either as characters inside the event or with filmed contributions shown on screens inside the arena.”  The arena will be “designed to look like the Royal Courts of Justice in London where Assange is set to face his final appeal in the UK court system.” Organizers of the protest hope to build up support for a real-life protest at the Royal Courts of Justice once a court date is announced...