Crypto News

Philippines’ SEC initiates measures to block access to Binance. Former Binance CEO, Changpeng Zhao, recently stepped down and pleaded guilty in the US. The Philippines’ SEC advises Filipino users to withdraw investments from Binance within three months. The Philippines’ Securities and Exchange Commission (SEC) has set in motion measures to restrict access to Binance , the world’s largest cryptocurrency exchange. This move follows the recent resignation of Binance’s CEO , who pleaded guilty to breaching US anti-money laundering laws. Changpeng Zhao has also resigned from the Binance.US board . Binance accused of unregistered operations The Philippines’ SEC asserts that Binance, the crypto giant, is operating without proper registration and lacks the required license to offer securities in the Philippines. The regulatory body has issued an advisory, outlining the removal of access within three months to allow Filipino users ample time to withdraw their investments. In its adviso...

Meme coins have shown a resurgence in recent weeks as AI tokens surge. Shiba Memu presale has raised over $4.6 million with 29 days to the final offer date. Could this be the opportune moment to buy SHMU? Data shows AI tokens have been on the rise in recent weeks, helped by a massive forecast for the sector by leading tech companies. Amid this outlook, is Shiba Memu , whose presale countdown is now down to just 29 days, worth buying? AI tokens have surged in recent weeks Artificial intelligence -powered tokens have had a decent run in recent weeks. According to data shared by crypto research and on-chain analytics platform Kaiko, AI-related tokens recorded increased trading volumes in November, hitting a peak of $3 billion. Trade volume for AI-related tokens has surged since the middle of October, led by $RNDR , $WLD , and $FET . pic.twitter.com/iuR2nMIwsY — Kaiko (@KaikoData) November 28, 2023 Trading volumes have soared since mid-October, with Render (RNDR) Worldcoin (...

IOTA continues strategic expansion with first DLT Foundation in the UAE’ The IOTA Foundation will allocate $100 million to the initiative. IOTA price was rallying after the news, up 50% at the time of writing. IOTA’s strategic expansion has reached another milestone with the registration of the first DLT foundation in the United Arab Emirates (UAE). The IOTA Foundation first announced plans for the foundation in September, highlighting registration with the Abu Dhabi Global as a step that would aid IOTA’s expansion in the Middle East and North Africa (MENA) region. The news came as the IOTA price spiked more than 50% to above $0.26. IOTA Foundation allocates $100 million to initiative Per today’s announcement , an investment of over $100 million has been allocated for the DLT Foundation, with the funding done in IOTA tokens. These will be vested over the next four years as the foundation looks to nurture innovation and adoption of the IOTA protoco l. The funding will also go...

IOTA continues strategic expansion with first DLT Foundation in the UAE’ The IOTA Foundation will allocate $100 million to the initiative. IOTA price was rallying after the news, up 50% at the time of writing. IOTA’s strategic expansion has reached another milestone with the registration of the first DLT foundation in the United Arab Emirates (UAE). The IOTA Foundation first announced plans for the foundation in September, highlighting registration with the Abu Dhabi Global as a step that would aid IOTA’s expansion in the Middle East and North Africa (MENA) region. The news came as the IOTA price spiked more than 50% to above $0.26. IOTA Foundation allocates $100 million to initiative Per today’s announcement , an investment of over $100 million has been allocated for the DLT Foundation, with the funding done in IOTA tokens. These will be vested over the next four years as the foundation looks to nurture innovation and adoption of the IOTA protoco l. The funding will also go...

Changpeng Zhao has reportedly resigned from the Binance.US Board of Directors. The former Binance CEO has also relinquished his voting rights in the US affiliate and will not participate in any governance decisions. Binance.US has announced that Changpeng Zhao, who recently resigned as the CEO of the global crypto exchange Binance , has stepped down as Chairman of the Board of Directors. CZ has also transferred his voting rights and will no longer be involved in the US-based crypto platform’s governance, according to a statement posted on X on Tuesday. “As CZ transitions to life after Binance, he has decided to step down from his role as Chairman of our Board of Directors and transferred his voting rights through a proxy arrangement, whereby his interest in the company is purely economic and he will no longer be involved in our governance,” the company said in the post. The update by the Binance.US team also pointed out that while it may share the Binance brand and technolog...

Chainlink has announced its Staking v0.2 is live, with a pool size of 45 million LINK.  v0.1 stakers are eligible to migrate their staked LINK from November 28. Minimum stake for community is 1 LINK and for node operators 1,000 LINK. Chainlink has officially upgraded its staking mechanism, with the new Staking v0.2 going live on November 28. The v0.2 staking will feature a 45 million LINK pool, with this accounting for 8% of the blockchain project’s circulating supply. Announcing that v0.2 was now live on the Ethereum mainnet, the Chainlink team said that existing v0.1 stakers were eligible to migrate their staked LINK with effect from November 28. The group’s accrued v0.2 rewards will give them access during a 9-day Priority Migration phase. LINK holders will have access from December 7, with this subject to “predefined eligibility requirements”, while general access is scheduled to kick off from December 11. #Chainlink Staking v0.2 is officially live on mainnet ⬡ S...

Changpeng Zhao has reportedly resigned from the Binance.US Board of Directors. The former Binance CEO has also relinquished his voting rights in the US affiliate and will not participate in any governance decisions. Binance.US has announced that Changpeng Zhao, who recently resigned as the CEO of the global crypto exchange Binance , has stepped down as Chairman of the Board of Directors. CZ has also transferred his voting rights and will no longer be involved in the US-based crypto platform’s governance, according to a statement posted on X on Tuesday. “As CZ transitions to life after Binance, he has decided to step down from his role as Chairman of our Board of Directors and transferred his voting rights through a proxy arrangement, whereby his interest in the company is purely economic and he will no longer be involved in our governance,” the company said in the post. The update by the Binance.US team also pointed out that while it may share the Binance brand and technolog...

Key takeaways Shiba Inu is down by 4% over the last seven days as the market undergoes a correction. Shiba Memu’s presale has now raised more than $4.6 million as more investors troop in. The cryptocurrency market is undergoing a slight correction after its excellent performance in recent weeks. However, Shiba Memu’s presale continues to hit new highs.  Shiba Inu could slip below $0.000008 SHIB, the native token of the Shiba Inu ecosystem, is down by 4% over the last seven days. The poor performance comes as the broader cryptocurrency market undergoes a correction. At press time, the  price of Shiba Inu stands at $0.000008077 per token. If the bearish trend continues, SHIB could drop below the $0.000008 level in the near term.  What is Shiba Memu? Shiba Memu is a new Web3 project that is launching as a meme token. The project continues to attract interest from investors as the broader cryptocurrency market continues to record an excellent year.  Its ...

Crypto investment products hit 9-week high of inflows. Total inflows for week up to November 24 was $346 million, with $312 million in Bitcoin-related ETP products. Ethereum saw $34 million of inflows amid a turnaround in sentiment. Crypto investment products recorded $346 million in inflows for the week ending November 24, according to a weekly report by digital assets management firm CoinShares. The report highlights last week’s inflows into crypto exchange-traded products as the “highest total observed in the past 9 weeks of inflows,” CoinShares head of research James Butterfill noted .  According to the analysis, crypto products are on a run of inflows that’s now the biggest since the last bull market. Positive net inflows are likely to continue given the sentiment around the potential approval of a spot-based ETF in the US. Bitcoin ETPs record $312 million in inflows As total crypto ETPs inflows hit $346 million, the largest chunk of that went into Bitcoin (BTC) prod...

Blast TVL reaches $570 million, days after the Paradigm and Standard Crypto backed L2 launched. A Japanese crypto VC is reportedly eyeing a $5M investment in the platform. Blast’s deposit-only smart contract has attracted huge criticism. Blast, the recently launched Layer 2 crypto project has surpassed $570 million in total value locked (TVL), according to data on Dune Analytics. With the project’s one-way deposit contract attracting criticism including from Paradigm researcher Dan Robinson , the number of depositors looks to have fallen from the peak seen last week. However, the L2’s value locked in ETH and stablecoins has risen to over $570 million just days after its launch.  The Blast team also shared the milestone on their X account, noting that over 63k community members were now earning yield (approximately 4% for ETH and 5% for stablecoins). They are also amassing Blast Points. Blast has reached $570 Million in TVL within 1 week. 63,948 community members are no...

The Sandbox, Nuqtah and Sandsoft have partnered to promote Web3 and metaverse adoption in Saudi Arabia and MENA region. Nuqtah will list SAND land and avatars on its NFT marketplace. Web3 adoption in Saudi Arabia is set for a significant boost after metaverse firm The Sandbox and its partner, mobile-first game developer Sandsoft, inked a partnership with MENA-based Web3 platform Nuqtah. The recently announced partnership is aimed at supporting the Web3 gaming ecosystem in Saudi Arabia, the companies said.  Specifically, the collaboration will focus on creating gaming and Web3 experiences that align with tastes and preferences of Saudi gamers. “ We’re pursuing our journey of innovation and growth in the Saudi region following our recent partnership announcement with Sandsoft ,” Sebastien Borget, the COO and co-founder of The Sandbox, said in a statement. “ Together with pioneers such as Nuqtah, we’ll collaborate to attract more local creators from Saudi Arabia into our use...

Vertex Protocol (VRTX), the decentralised exchange (DEX) on Arbitrum, is seeing increased volumes for spot and perpetuals. VRTX price was 33% up in 24 hours, hitting $0.44 and 89% up from $0.22 on November 22. Total value locked (TVL) has reached $32 million. Most altcoins are trading at near year-to-date highs after mirroring Bitcoin’s march to its highest price in 18 months – the spike to above $38k. With the overall market outlook remaining bullish, analysts are pointing to a potential upward continuation for BTC. Here is what to know about Vertex Protocol (VRTX) going into next week. Vertex (VRTX) The Vertex Protocol is a decentralized exchange (DEX) on Arbitrum that offers spot, perpetuals and money markets. The hybrid orderbook-automated money maker DEX has seen increased volume in the past few days, with its 24 hour trading volume surpassing dYdX as top volume DEX for perpetuals. Another 24h volume ATH for @vertex_protocol ! It surpassed dYdX for the No. 1 perp dex...

SIDUS price skyrockets as project burns 6.8 billion tokens. The Web3 gaming and AI project has seen the price of its native utility token jump 40% in the past 24 hours. Buying pressure for SIDUS has pushed it to its highest level since May 2022. Sidus (SIDUS) price has risen sharply in the past few days, rising to its highest level since May 2022. This comes after the SIDUS HEROES team announced they had burned a staggering 6.8 billion of the native utility token’s supply. The announcement on Friday revealed the 6.8 billion SIDUS tokens, accounting for 23.13% of the total supply. These tokens have permanently been removed from circulation, cutting total supply to about 22.6 billion. 🔥 It’s done! We’ve burned 6,826,500,000 $SIDUS tokens – 23.13% of the total supply! 🔥 ✔️ Transaction details: https://t.co/ew5O7CgeG8 Both our revolutionary votes are over – $SIDUS and $SENATE are much stronger, with a lot of space for growth! 🚀 pic.twitter.com/dX5tpbtAJT — SIDUS HEROES (@...

The Cosmos Hub community has approved a proposal capping ATOM’s maximum inflation rate at 10% Per the proposal, validators can still break even or turn profits at 10% inflation Reducing inflation rate will help Cosmos’ security and growth potential. The latest Cosmos news is that the community has approved a proposal that seeks to cut the maximum inflation rate of ATOM to 10%. The Cosmos Hub X account shared the results of the vote that ended on November 26. Proposal 848 , dubbed the “ATOM Production Reduction: Proposal to Set the Maximum Inflation Rate to 10%” passed with 41.1% of the vote in support and 31.9% against. Vote turnout was more than 72%, the highest in the Cosmos Hub’s history.  ATOM’s maximum inflation rate to reduce from 20% to 10% Approval means the cryptocurrency’s maximum inflation parameter will be reduced from 20% to 10%, bringing the current inflation rate down from 14% to 10%. Cosmos Hub’s annualized staking yield will also reduce from 19% to about 1...

Blast was supported by a $20Ms investment from notable backers like Paradigm and Standard Crypto at launch. Blast is facing Ponzi scheme claims. Roquerre clarifies that Blast’s 4 to 5% yield comes from reputable platforms like Lido and MakerDAO. In a recent twist of events, Blast has faced scrutiny and Ponzi scheme claims. However, the founder, Tieshun Roquerre, has vehemently denied these allegations. Despite ongoing debates, the recently launched Blast platform has achieved a significant milestone with a Total Value Locked (TVL) exceeding $400 million, emphasizing the platform’s rapid growth and unique features, including ‘Blast Points’ for community engagement and an innovative approach to Layer 2 (L2) native yield generation. As the platform gains attention with a Total Value Locked (TVL) surpassing $400 million, Roquerre has sought to clarify misconceptions surrounding Blast’s innovative approach to yield generation and community engagement. What is Blast? Launched in an ...

KyberSwap is yet to get back the $7 million that was stolen on November 22. The decentralized exchange has offered a 10% bounty to the hacker in a bid to get the funds back. Security firm Beosin unveils the intricacies of the exploit, attributing the attack to a vulnerability in Kyber’s liquidity pools. Following the $47 million KyberSwap hack on November 22 , the decentralized exchange protocol has made a bold move in an attempt to recover the funds. The protocol has offered a bounty in a bid to encourage the hacker to return the stolen assets. Incentive for the hacker In response to an on-chain message left by the perpetrator, KyberSwap has offered a 10% bounty (amounting to $4.7 million) to the hacker who executed the exploit. The hacker had hinted at negotiations with the KyberSwap team, stating, “Dear Kyberswap Developers, Employees, DAO members, and LPs, negotiations will start in a few hours when I am fully rested. Thank you.” KyberSwap’s co-founder, Victor Tran, conve...

OKX will list Fetch.ai (FET) and SingularityNET (AGIX) on its spot market on November 24 at 10am UTC. FET and AGIX are leading AI tokens and their prices have surged in recent months. OKX also recently listed Pyth Network (PYTH). Crypto exchange OKX has announced the listing of two artificial intelligence (AI) related crypto tokens on its spot market. The two tokens, Fetch.ai (FET) and SingularityNET (AGIX) will be added to the exchange’s spot market at 10:00 am UTC on Friday, November 24.  Deposits for FET/USDT and AGIX/USDT are open, enabled at 6:00 am UTC ahead of trading, OKX said in a post on X. OKX will enable FET and AGIX withdrawals on November 27, at 10:00 am UTC. FET and AGIX prices surge Fetch.AI is an Ethereum-based token that is powered by artificial intelligence to support a decentralised internet economy. The total supply of FET is 1,152,997,575. After OKX’s announcement , the price of OKX surged more than 10% to break above $0.55, with cumulative gains o...

X (formerly Twitter) has restricted the account of ex-Binance CEO Changpeng ‘CZ’ Zhao. The Binance founder stepped down on Tuesday after pleading guilty to DOJ charges. Binance founder and former CEO Changpeng ‘CZ’ Zhao’s X account has been restricted. While its not clear why the ex-Binance chief’s X (formely Twitter) is restricted, the move comes as a surprise to many. On Thursday, US prosecutors wanted CZ prevented from leaving the US for the UAE, with allegations that he was a flight risk. This is after he pleaded guilty to money laundering charges and was released on a $175 million bond. Binance will also pay a $4.3 billion penalty as settlement with the US Department of Justice (DOJ). After he stepped down, CZ was replaced by Richard Teng, the former head of Abu Dhabi Global Market, UAE. Update: CZ’s account restriction was due to several name changes, which is what he noted in a comment as he urged against FUD. Happy Thanksgiving! 🦃 No need to FUD. All good now. 🙏 ...

Ripple’s XRP looks to be breaking from a descending channel, suggesting further upside momentum. Dogecoin price is poised amid a notable surge in DOGE transactions. Both coins traded lower this week as markets reacted to Binance news. The Ripple token , the fifth-largest by market cap with over $33 billion, was trading near $0.61 at the time of writing. Meanwhile, Dogecoin (DOGE) has surged to highs of $0.075 and could break higher as on-chain activity swells. Both XRP and DOGE saw a negative flip this week as cryptocurrencies dumped after news that former Binance CEO Changpeng Zhao was stepping down . Analyst shares XRP and DOGE price outlook While XRP failed to break the psychological barrier at $1 in July, crypto analyst Ali says a breakout from a descending parallel channel could see XRP/USD push to the $0.65 – $0.66 region. #Ripple | $XRP appears to be breaking out from a descending parallel channel, which may result in an upswing to $0.65 – $0.66 for #XRP . pic.twi...

The collaboration is aimed at combating digital asset fraud and enhancing anti-money laundering efforts. The two will work to address the record-high $20.6B in global cryptocurrency-based illicit transactions. They will provide advanced blockchain monitoring and governance. In a strategic move to address the escalating threat of fraud and criminal activities in the digital assets sector, KPMG Canada has joined forces with blockchain analytics firm Chainalysis. This partnership aims to bolster companies’ capabilities in adhering to evolving crypto regulations and advancing their anti-money laundering compliance programs. Enhancing crypto security measures amid growing threats The collaboration between the Canadian arm of KPMG and Chainalysis comes as the digital asset sector witnesses an increase in the sophistication of exploits and frauds. The Chainalysis 2023 Crypto Crime Report revealed a record-high global cryptocurrency-based illicit transaction volume of $20.6 billion i...

Austria’s Raiffeisen Bank will launch crypto trading in 2024. Raiffeisen Bank International has $215B in assets and a customer base spanning the European Union and Eastern Europe. Bitpanda crypto exchange has complied with the crypto regulations in Austria and Germany. In a significant move signalling the increasing adoption of cryptocurrencies in the traditional banking sector, Raiffeisen Bank International has announced its plans to introduce cryptocurrency trading services for retail customers by the end of January 2024. The initiative will commence in Vienna, where the 97-year-old bank is headquartered, in collaboration with local cryptocurrency exchange Bitpanda . Raiffeisen Bank’s partnership with Bitpanda  Raiffeisen Bank’s cryptocurrency services, designed to cater to digital-savvy customers, will leverage a partnership with Bitpanda. Through the Raiffeisen app, customers in Vienna will be able to access Bitpanda’s platform using their mobile devices seamlessl...

Decentralized exchange (DEX) protocol KyberSwap has been hacked for $47 million. The attacker drained $20 million in WETH, $4 million ARB and $7 million wstETH.  KNC price fell to $0.72 while TVL plunged to $13.6 million. DEX platform KyberSwap has been hacked, with approximately $47 million worth of crypto assets drained from its liquidity pools.  It is the latest attack in the crypto industry, with this coming just a day after HTX’s HECO chain bridge suffered an $86 million exploit . KyberSwap exploited – what happened? KyberSwap alerted its users to the exploit early Thursday, advising that customers withdraw their funds as a precaution.  🚨Urgent🚨 Dear KyberSwap Elastic Users, We regret to inform you that KyberSwap Elastic has experienced a security incident. As a precautionary measure, we strongly advise all users to promptly withdraw their funds. Our team is diligently investigating the situation, and we… — Kyber Network (@KyberNetwork) November 22, ...

BLUR has outperformed other altcoins with 35% upside Data shows increased whale buying after the end of the NFT marketplace’s season 2 airdrop. BLUR price reached a high of $0.52, its highest level since late May. Blur (BLUR) was outperforming with a massive 35% upside at the time of writing. Meanwhile, top coins and tokens in the crypto market continued to grapple with increased bearish pressure following events that unfolded around Binance in the past 24 hours. Market data shows BLUR traded to $0.52 on Wednesday, its highest level since May 29, 2023.  But while BLUR was 35% up and looking to extend gains seen over the last 24 hours, Bitcoin and Ethereum were -1.1% and +2.8% at $36,560 and $2,034 respectively. Blur token surges after Season 2 airdrop Blur’s recently completed airdrop looks to have sparked a flurry of buying by large holders. According to on-chain data, there has been massive whale activity since Monday when the Blur team announced NFT traders could begi...

Over $186 Million drained in a HECO Bridge-related hack. The HECO Bridge is a crucial link for transferring funds between Ethereum and the Heco Chain. Projects associated with blockchain entrepreneur Justin Sun are facing ongoing hacking challenges. In a recent development, the HECO chain bridge, built by the HTX Global exchange has fallen victim to a major security breach, resulting in the unauthorized transfer of over $86 million. On-chain security platform Cyvers Alerts identified the movement of funds, pointing to a potential exploit in the HECO chain. 🚨Code Red!🚨 (Ongoing)Our AI powered system has detected multiple suspicious transactions from @HECO_Chain bridge Suspicious address has received around $85M. Suspicious address: https://t.co/JlMClIM7hg First transaction is 10,145 $ETH from @HECO_Chain bridge to suspicious… pic.twitter.com/IwpqXvhCsU — 🚨 Cyvers Alerts 🚨 (@CyversAlerts) November 22, 2023 HECO Chain Bridge exploit According to Cyvers Alerts, suspi...

CoinGecko, a prominent cryptocurrency data aggregator, has acquired Zash. Zash is an industry leader in NFT data infrastructure and intelligence. The acquisition aligns with CoinGecko’s vision to tokenize any feasible asset. In a strategic move to bolster its cryptocurrency data services, CoinGecko has completed its first-ever acquisition by adding Zash, a prominent NFT data infrastructure and intelligence company, to its portfolio. Zash’s NFT data integration CoinGecko, a leading cryptocurrency data aggregator, has finalized the acquisition of Zash, an industry trailblazer in NFT data infrastructure and intelligence. Established in 2021 by CEO Parit Patel and CTO Efe Surekli, Zash has gained recognition for providing enterprise-grade, indexed NFT data across 87 distinct marketplaces, spanning Ethereum ,  Binance Smart Chain, Polygon , Solana, and Bitcoin Ordinals. CoinGecko, with its vision of tokenizing any asset possible, recognizes the evolving landscape of NFTs. The...

Binance CEO Changpeng Zhao resigns and pleads guilty. Binance delisting of 10 major coins as regulatory response. Binance restructures leadership and commits to compliance. Binance , the world’s largest cryptocurrency exchange, is making significant moves in response to a groundbreaking settlement with the US Securities and Exchange Commission (SEC). The exchange has announced the delisting of 10 major trading pairs, including notable cryptocurrencies such as Aptos (APT), Axie Infinity (AXS), and Filecoin (FIL). Changpeng Zhao’s resignation and $4B Penalty In a surprising turn of events, Binance founder Changpeng Zhao, commonly known as CZ, has decided to step down from his role as CEO in the wake of a comprehensive settlement with the SEC we reported earlier . The settlement stems from criminal charges against Binance, including breaking sanctions and money-transmitting laws. As part of the deal, CZ has pleaded guilty to charges related to violating the Bank Secrecy Act and c...

Crypto flips red, with Bitcoin falling below $37k and BNB tanking 7% to $240 amid reports Binance CEO may resign’ A report by Forbes suggest the DOJ will make an announcement to that effect today. The cryptocurrency market was retracing sharply on Tuesday afternoon as reports surfaced that Changpeng Zhao, the founder and CEO of Binance, may step down as part of a settlement with the US Department of Justice (DOJ). CZ’s resignation could be part of DOJ’s anticipated announcement later on Tuesday, according a report by Forbes. Richard Teng  is allegedly poised to take over. Richard Teng A Top Contender For New Binance CEO As CZ Steps Down: by @DavidJeans2 https://t.co/4iZfIsb37c — Forbes Crypto (@ForbesCrypto) November 21, 2023 Amid the rumours and allegations, Bitcoin price fell below $37k and altcoins took a dive as Ethereum lost the $2k mark.  BTC fell 3% to $36,797 and ETH 4% to $1,968, while Binance’s native coin that had rallied just a few hours earlier, had ...

The Fantom Foundation says the $1.7 million is bounty for a security researcher whose quick alert helped prevent a potential $170 million hack. Fantom had lost $550k in October, with the hack targeting a reassigned wallet seeing an employee lose $7 million. The Fantom Foundation, the non-profit organisation behind the crypto platform Fantom, rewarded a security researcher whose efforts helped foil a potential catastrophic hack. Fantom’s award of $1.7 million was revealed in a blog post on Monday, November 20.  Bounty relates to $550k hack According to the Fantom Foundation, the bounty relates to the October 17 incident that saw an attacker drain over $550k from a Fantom wallet that had been reassigned to an employee. The “targeted attack” reportedly saw the employee lose over $7 million . pic.twitter.com/gShkT3C9XV — Fantom Foundation (@FantomFDN) October 17, 2023 But while Fantom Foundation maintained its wallets were not impacted in any major way, with funds safe,...