Author: Admin
The Polygon Network recently underwent a technical upgrade to migrate their native token from MATIC to POL. Following the migration, the new token’s price struggled to gain momentum, failing to reclaim the $0.39 resistance level. However, Binance’s recent listing of POL has pumped its price above key levels. Binance Completes Polygon Token Migration On Friday morning, global exchange Binance completed the token migration from MATIC to POL. The exchange had stated it would support Polygon’s token swap by delisting all MATIC trading pairs and suspending deposits and withdrawals on September 10. Additionally, the platform revealed it would add POL spot trading pairs…
After moving to Farcaster, Vitalik Buterin appears to be back on X with over 150 posts or replies in the last month. Source link
Pro-crypto Representatives noted the need for a freer financial system, while more skeptical lawmakers blamed DeFi for crime, scams, and tax evasion. United States lawmakers were divided down party lines at the first-ever Congressional hearing on decentralized finance (DeFi). The House Financial Services Committee’s Sept. 10 hearing — “Decoding DeFi: Breaking Down the Future of Decentralized Finance” — aimed to explore emerging topics like tokenization and how blockchains can be used in finance. The nearly two-and-a-half-hour-long hearing highlighted the disunity between Republican and Democratic lawmakers over the technology. Republican subcommittee chair French Hill opened the hearing by stating, “Substituting intermediaries for autonomous, self-executing…
Bitcoin (BTC), the largest cryptocurrency by market cap, seems to bounce back after hitting a monthly low of $55,500. Despite a 10% drop in recent days, the price has surged over 5% in the past three days, indicating a potential price reversal on the horizon. In a series of X posts, VirtualBacon warns of a Bitcoin shakeout. He suggested Bitcoin may take one last plunge before a new bull run in a recent X post. VirtualBacon believes a bull run is still ahead despite market fears of a sharp plunge to the low $40,000s. Is Another Bear Market Likely? The market…
ON AUGUST 30, Brian Armstrong, Co-Founder and CEO of Coinbase, shared a significant milestone in the integration of AI and cryptocurrency, revealing that Coinbase Development facilitated the first-ever AI-to-AI crypto transaction. In this transaction, one AI purchased tokens from another AI, but these were not traditional cryptocurrency tokens; rather, they were words exchanged between large language models (LLMs). Armstrong highlighted the uniqueness of the event, noting how AIs effectively “used tokens to buy tokens.” The transaction was conducted using USDC on Base, a Layer 2 blockchain built on Ethereum, with significant development led by Coinbase. Base is designed to offer…
XDC Network Partners with Giottus Crypto Platform: A Game-Changer The Indian cryptocurrency market is poised for a significant transformation with the recent announcement of a strategic partnership between the XDC Network (XDC) and Giottus Crypto Platform. This collaboration marks a milestone in the Indian crypto ecosystem, as it allows over 1.1 million Giottus users to seamlessly buy, sell, deposit, and withdraw XDC tokens in the Indian Rupee (INR) pair. The listing of XDC on Giottus is not just another addition to the platform’s extensive portfolio but the beginning of a broader initiative aimed at expanding the XDC ecosystem in India. The Significance…
China has updated its Anti-Money Laundering (AML) laws to include virtual asset transactions, marking the first significant change to the country’s AML rules since they were established on January 1, 2007. On August 19, the Supreme People’s Court and the Supreme People’s Procuratorate announced that their new interpretation of the AML laws officially recognizes virtual asset transactions as potential tools for money laundering. This change comes as part of China’s efforts to tighten its regulatory framework in response to the growing use of digital currencies and other virtual assets. Offenders Face Fines of Up to $28,000 The updated regulations now…
The Economic and Financial Crimes Commission (EFCC), Nigeria’s leading anti-corruption agency, has frozen approximately $38 million in cryptocurrency, citing allegations that the funds are linked to money laundering and terrorism financing. The identities of the individuals or groups whose wallets were targeted have not been disclosed, raising questions and concerns among the public. Connection to #EndBadGovernance Protests Insiders familiar with the case have indicated that the Nigerian government believes these funds may be tied to the organizers of the #EndBadGovernance protests, which swept across the nation from August 1-10. These demonstrations were driven by widespread frustration over the country’s deteriorating…
On Friday, August 16, around 24,300 Bitcoin options contracts will expire, with a notional value of around $1.4 billion. Today’s options expiry event is smaller than last week’s, so its impact on spot markets is likely to be limited. The much larger month-end expiry event currently has a notional value of $3.2 billion. Bitcoin Options Expiry This week’s tranche of Bitcoin options contracts has a put/call ratio of 0.82, which means that longs and shorts are more closely aligned with slightly more long (call) contracts expiring than shorts (puts). The max pain, or point at which most losses will be made,…
Mt. Gox’s cold wallet transfers 47,229 BTC worth $3 billion to an unknown address, marking significant activity after a two-week lull. Source link