Crypto News

BNB Chain plans to drive mass adoption of crypto in 2024, with focus on decentralised finance (DeFi), gaming, and artificial intelligence (AI). Decentralized Physical Infrastructure Networks (DePIN), Decentralised Society (DeSoc) and the Web3 economy are also key areas. BNB Chain has outlined its plans for the coming year, with the blockchain ecosystem targeting further adoption of crypto via key innovations across various industry sectors. In its 2024 outlook, BNB Chain says it will focus on driving mass adoption, taking a multichain approach to push innovation across decentralised finance ( DeFi ), gaming , and artificial intelligence ( AI ). With hackathons and events tailored to spark greater innovation, BNB Chain will also push for a thriving crypto ecosystem via initiatives around Decentralized Physical Infrastructure Networks (DePIN), Decentralised Society (DeSoc) and the Web3 economy. Unified approach, with “One BNB” The BNB Chain team aims at taking mass adoption of cr...

Police in German have seized 50,000 bitcoin (BTC) worth over $2.1 billion.  The seizure relates to an investigation against two people who conducted a website piracy operation in 2013. In latest crypto news from Germany, police are reportedly in possession of 50,000 Bitcoin (BTC) seized in mid-January as part of an investigation into a website piracy operation. The value of the BTC is currently worth about $2.17 billion and the biggest ever crypto seizures in Germany, police said in a statement published on January 30. CoinDesk reported the story first. Suspect “voluntarily transferred” BTC to police wallets According to the police, the BTC seizure relates to an investigation around copyright infringements via a website established in 2013.  Law enforcement say an operation supported by the Federal Criminal Police Office (BKA), the FBI and a Munich forensic IT expert company, have been looking into the activities of the website that operated until May 2013. Two indi...

Binance lists Jupiter (JUP) for trading, sparking a 57% price surge. Memeinator’s MMTR token presale sees remarkable success, raising over $4 million. DeFi projects like Jupiter and Memeinator shape the future of cryptocurrency. The latest developments in the cryptocurrency market have sparked excitement among investors as Binance announces the listing of Jupiter (JUP) while Memeinator (MMTR) showcases remarkable progress through its presale stages. Let’s delve into the details of these significant milestones shaping the DeFi landscape . JUP token Airdrop Jupiter, operating on the Solana blockchain, has garnered attention for its multifaceted approach to decentralized finance (DeFi) since it was launched in October 2021. The protocol touts itself as Solana’s first on-chain swap aggregator and it offers a range of services including decentralized exchange aggregation, advanced trading options, and investment strategies such as Dollar-Cost Averaging (DCA). Jupiter’s aggregator...

Standard Chartered Bank says the SEC could approve spot Ethereum ETFs on May 23, the final deadline for applications currently before the regulator. Ethereum price could surge to over $4,000 by then, the bank said in a report. The US Securities and Exchange Commission (SEC) is likely to give a nod to the first spot Ethereum ETF in May, the Standard Chartered Bank said in a report on Tuesday. In particular, the bank’s analysts see the regulator approving the ETH spot ETFs on May 23. According to the bank’s note shared with clients and reported on by The Block , the May date is the final deadline for applications before the SEC. “We expect pending applications for ETH U.S. spot ETFs to be approved on May 23, the final deadline for the first of the ETFs under consideration — the equivalent date to Jan. 10 for BTC ETFs,” Geoffrey Kendrick, Head of Forex and Digital Assets Research at Standard Chartered Bank, said. ETH price could surge to $4,000 The SEC recently delayed spot Ethere...

Binance Labs has invested an undisclosed amount in Ethereum restaking protocol Puffer. Puffer Finance will use these funds to develop its Layer 2 network and to bring ETH staking and restaking rwards to BNB Chain users. Binance Labs on Monday, January 29, denied claims it had participated in a $15 million funding round for SkyArk Chronicles. Binance Labs, the venture capital and incubation arm of crypto exchange Binance , has made a strategic investment in Puffer Finance, a decentralised liquid restaking protocol on EigenLayer. Although Binance Labs hasn’t disclosed the invested amount, it revealed in its announcement that Puffer will use the investment to develop its open-source technologies.  Today’s announcement comes a day after Binance Labs released a statement distancing itself from claims that it had led a $15 million funding round for gaming platform SkyArk Chronicles. Puffer to use investment on its L2 and restaking rewards One of the project areas to see funding...

Bitpanda ceases operations for Dutch residents. The exchange has cited regulatory compliance concerns for the exit. The decision aligns with the exchange’s commitment to cooperate with local regulators in the Netherlands. Bitpanda , a leading cryptocurrency exchange platform, has announced its decision to cease operations for Dutch residents due to regulatory compliance issues in the Netherlands. This move underscores the company’s commitment to adhering to local regulatory frameworks, highlighting the challenges crypto exchanges face amidst evolving legal landscapes. It aligns with the company’s dedication to cooperating with local regulators and ensuring compliance with the latest regulations. Impact of MiCA Legislation in the EU The Netherlands, as a member of the European Union, operates within the framework of the Markets in Crypto Asset legislation (MiCA). This legislation enables companies to obtain a single license in one EU country and operate across the entire bloc. H...

GRIID begins trading on NASDAQ post-SPAC merger, enhancing market presence. NASDAQ debut follows a successful merger with Adit EdTech Acquisition Corp. GRIID’s listing underscores the growing integration of cryptocurrency firms into traditional markets. GRIID, a US-based Bitcoin mining company, has officially commenced trading on the NASDAQ Global Market, heralding a new chapter in its journey. Known for its vertically integrated mining facilities leveraging sustainable energy, GRIID’s foray into the NASDAQ marks a notable milestone in the cryptocurrency sector’s intersection with traditional financial markets. The move signifies a pivotal moment for GRIID, emphasizing its strategic expansion and commitment to delivering value to shareholders. GRIID’s SPAC merger GRIID’s NASDAQ listing comes on the heels of a successful merger with Adit EdTech Acquisition Corp, a special purpose acquisition company (SPAC). This strategic move underscores GRIID’s dedication to fortifying its ma...

Binance Labs says it was “unware” of SkyArk Chronicles’ $15 million funding round and that it did not participate as the AAA gaming platform claimed. SkyArk Chronicles has apologized for the “miscommunication”. Binance Labs has refuted claims that it participated in the gaming platform SkyArk Chronicles’ latest financing round. The venture capital arm of crypto exchange Binance released a statement on Monday distancing itself from SkyArk Chronicles’ $15 million funding, noting that the only participation it had was in the incubation of the project in 2021. Binance says it never participated in the $15 million round Binance’s reaction was prompted by an announcement that its venture arm had led SkyArk Chronicles’ funding round. Binance Labs says it had asked the NFT project to rectify the claim as posted in the announcement article and on X. While SkyArk deleted the post on the social media platform, it appears no other effort was made – despite Binance’s repeated calls via pri...

Crypto investment products saw an outflow of $500 million last week. Bitcoin saw the most outflows with $479 million, while Ethereum recorded $39 million in outflows. CoinShares’ weekly report shows most of the outflows were in the US, where Grayscale’s ETF witnessed over $2.2 billion in outflows. Digital asset investment products saw a significant spike in outflows lask week, according to digital assets investment firm CoinShares. CoinShares’s latest weekly report shows the crypto investment products market saw outflows totalling $500 million.. Bitcoin saw $479 million in outflows According to the asset manager, the global outflows from crypto investment products reached $409 million in the US, $60 million in Switzerland and $32 million in Germany – the three regions with the highest outflows for the week ending January 26. “ Bitcoin has understandably been the primary focus, seeing US$479m outflows, while short-bitcoin saw further inflows totalling US$10.6m. Altcoins predom...

Harvest Hong Kong is the first institution in Hong Kong to file for a spot Bitcoin ETF. A local news outlet suggests the Hong Kong Financial Services Commission (FSC) could announce a decision in coming weeks. The US recently approved 11 ETFs, including for BlackRock, Fidelity and Grayscale. Harvest Hong Kong, one of the largest fund companies in China, has filed for a spot Bitcoin exchange-traded-fund (ETF). A Tencent News report says that the company filed the ETF application with the Hong Kong Securities and Futures Commission (FSC) on January 26, 2024. Harvest Fund is the first institution to submit a proposal to list a spot Bitcoin ETF in Hong Kong, the news outlet noted. According to the report, the regulator could release its decision on the ETF after the Lunar New Year holiday. However, market experts say the SFC could take a cue from the US Securities and Exchange Commission (SEC) and look to approve several ETFs at a go. Institutions eye spot ETFs Early this month,...

Avalanche has spiked double-digits amid new momentum forecast for rally to $100. BITBOT could be the pick of presale tokens with its investment potential buoyed by its likely dominance of Telegram crypto trading landscape. Bitbot (BITBOT) token is creating a huge wave of interest from traders as the market bounces following Bitcoin’s upside this weekend. Meanwhile, one of the top altcoins currently signaling potential momentum is Avalanche (AVAX) . AVAX has seen double-digit gains as analysts point to its future potential. The opportunity available with BITBOT’s presale is however attracting huge attention.   Avalanche (AVAX): A potential rally to $100? Avalanche (AVAX) stands out as one of the top performing altcoins in the past 24 hours. The token’s price was trading at $35, up 12% as bulls pushed higher following the recovery from lows of $32.  With prices up 8% in the past week, it looks like Avalanche is building fresh momentum. Crypto analysts are bullish on AV...

The US government has issued a notice on the sale of over $130 million in BTC linked to Silk Road. Court documents indicate this includes 2,874 BTC seized from drug trafficker Ryan Farace and 58 BTC from convicted law enforcement agent Sean Bridges. BTC price remained near $40k, but market is watching Ethereum, Solana. Crypto news today is dominated by the US government’s notice about its plans to sell over $3,200 Bitcoon (BTC) worth more than $130 million. Documents show that these bitcoins are part of the forfeitures related to the infamous darknet marketplace Silk Road. While the news has had no major impact on BTC price as of writing, the market is abuzz with what the outlook for the top crypto by market cap could mean for altcoins. Elsewhere, the potential resurgence in meme coins has traders eyeing the next gem. Could Memeinator (MMTR) be one of the tokens to watch? US government to sell BTC worth $130 million On Thursday, January 25, the United States government filed ...

Beam wallet has acquired Join, an app that allows users to shop and pay with stablecoins anywhere. The acquisition allows Beam wallet users to shop online at Amazon and Shopify among other merchants and pay using stablecoins. Beam has announced early access, with roll out expected in February. Eco, the developer of self-custody wallet Beam, has announced its acquisition of Web3 app Join, making it possible for Beam users to shop and pay for purchases online at Amazon and Shopify using stablecoins . According to an announcement the Beam wallet team made on Thursday, the acquisition of Join brings checkout onchain. This facilitates a better shopping experience for users without compromising on the benefits of decentralization, the platform said in a threat on X. 1/ BIG NEWS: we’ve acquired @join to enable shopping online with stablecoins. It’s time to bring checkout onchain. No more waiting for the rest of the world to catch up. Want to be the first to spend stablecoins on A...

JPMorgan analysts said in a note on Thursday that Bitcoin’s downside pressure could be easing amid a downtrend in GBTC outflows. Grayscale’s GBTC has seen over $4.3 billion in outflows amid profit-taking. Bitcoin price hovered around $39,800 as bulls struggled to reclaim the $40k level. The selling pressure that hit Bitcoin (BTC) in the aftermath of the approval of spot Bitcoin ETFs has largely eased off, according to analysts at JPMorgan. A research note the analysts at the bank, led by Nikolaos Panigirtzoglou published on Thursday, suggests that the level of outflows witnessed with Grayscale ’s GBTC shows the expected profit-taking has already occurred. GBTC outflows reducing, but… On Wednesday, January 24, GBTC outflows hit $425 million for the day, a scenario Bloomberg’s senior ETF analyst Eric Balchunas said was the “lowest bleed since day one.” While still a large figure, the amount decline showed the outflows were “seemingly trending down,” he added. On January 25, Bal...

Polygon introduces AggLayer protocol for seamless blockchain integration. AggLayer aims to unify liquidity and enhance user experience across platforms. Potential MATIC decline could be offset by the positive sentiment surrounding AggLayer launch. Polygon Labs is set to launch a game-changing protocol named AggLayer, aimed at transforming blockchain integration and enhancing interoperability across platforms. This innovative development comes at a crucial time as Polygon’s native cryptocurrency, MATIC, faces potential bearish pressure. AggLayer promises to streamline blockchain operations, addressing fragmentation and scalability issues prevalent in the current ecosystem. AggLayer: simplifying blockchain integration AggLayer, a pioneering blockchain aggregation layer, is slated to debut in February. Designed as a centralized protocol, AggLayer aggregates zero-knowledge (ZK) proofs from connected chains, thereby improving interoperability across various blockchain platforms. By...

Stellar (XLM) is gearing up for the launch of smart contracts on the mainnet. Meme Moguls (MGLS) could be the standout crypto meme project in this market cycle. MGLS price in presale stage 5 is $0.0036, up 89% from the initial $0.0019. Stellar announced on Wednesday that a vote for its highly anticipated software upgrade, the Protocol 20 upgrade, will happen as planned on January 30, 2024. XLM price flipped positive in the past 24 hours as the potential impact of the upcoming network change drives fresh interest. Elsewhere, market confidence in new meme-backed exchange Meme Moguls (MGLS) has seen investors flock to its presale. Find out why XLM and MGLS could be great investment opportunities in 2024 and beyond. Stellar poised for Protocol 20 upgrade In December 2023, the Stellar Development Foundation (SDF) announced that the quest to bring smart contracts functionality to Stellar had hit a new milestone. It was that the network would have its Soroban smart contracts roll ou...

Synthetix’s deployment of V3 Perps on Base allows developers on the Ethereum L2 blockchain to create and launch their own crypto perpetuals products. V3 Perps on Base will help Synthetix generate more trading volume for its perps across the Ethereum ecosystem. Synthetix (SNX) , a decentralized marketplace for crypto derivatives and real-world assets, has deployed the V3 of its perpetuals contracts protocol on Base.  In an announcement on Wednesday, the platform said Perps V3 will offer developers direct access to the product solutions and liquidity needed when launching crypto perps. Synthetix targets increased trading in Ethereum ecosystem The deployment of Perps V3 makes Synthetix the first protocol to bring a major perpetuals contracts product to the Ethereum Layer-2 blockchain, the platform said in a press release. With this launch, both Base and Coinbase ecosystem traders now have an easier way of experimenting with Synthetix-powered exchanges. These include Kwenta, ...

Bitcoin’s recent dip below $40,000 triggered $83 million in liquidations. Cardano (ADA) stands resilient, leading in development and boasting a diverse ecosystem. Optimism (OP) gains momentum with the rising adoption of L2 solutions. The cryptocurrency market is navigating turbulent waters as Bitcoin’s recent price decline triggered nearly $83 million in liquidations. The impact of this downturn is reverberating across the crypto space, presenting challenges but also opportunities for certain altcoins. However, amid this chaos, altcoins like Cardano (ADA), Optimism (OP), and the new Memeinator (MMTR)  meme coin are positioned for growth. Bitcoin price decline sparks $83M liquidations The crypto market witnessed a significant setback as Bitcoin’s price nosedived to $38,555 on Tuesday, triggering a cascade of liquidations totalling $83 million in the futures market. Analysts attribute this sharp decline to several factors, including the recent approval of spot Bitcoin ETFs ...

Nexo says the investigations tarnished its reputation and hampered its growth. Bulgarian authorities dropped the Nexo case in December 2023, citing a lack of evidence. In one of today’s biggest cryptocurrency news , Nexo, a leading crypto lender that is reportedly seeking $3 billion in damages from Bulgaria. Specifically, as Reuters reported on Wednesday, Nexo AG, a Swiss arm of Nexo Capital, says last year’s aborted criminal investigation completely destroyed the company’s expansion plans, including a potential US listing. Nexo files for arbitration with ICSID Nexo, in a filing with the World Bank’s International Centre for Settlement of Investment Disputes (ICSID), says Bulgaria’s investigation tainted its reputation. It also wrecked shareholder value. As CoinJournal   highlighted in December 2023, the Bulgarian prosecutor’s office announced a termination of the criminal investigations against Nexo and four of its executives, citing a lack of evidence. The prosecution’...

The federal appeals court in Philadelphia ordered that an independent examiner be appointed to scrutinize the FTX collapse. Bankruptcy court judge John Dorsey had earlier denied the trustee’s request. A federal appeals court has ordered following a three-judge bench decision that an independent examiner should scrutinize FTX’s bankruptcy case. Federal court orders for appointment of an examiner in FTX case The Associated Press reported on Tuesday that the appeals court in Philadelphia has reversed an earlier ruling denying a US bankruptcy trustee’s request for an independent examiner. US bankruptcy judge John Dorsey dismissed the trustee’s request in February last year. Judge Dorsey had agreed with FTX’s argument that an examiner’s involvement would only duplicate what new CEO John Ray III, federal agencies and the committee of unsecured creditors was doing.  FTX also argued that having an independent examiner was too costly. But in its ruling last Friday, the appeals co...

Key takeaways Bitcoin has declined below the $40k level for the first time in nearly two months. Bitbot’s presale has raised more than $300k a week after its launch. Bitcoin’s selling pressure continues as BTC dips below $40k Bitcoin, the world’s number one cryptocurrency by market cap, has been underperforming over the last few days. It is down by more than 20% since the spot Bitcoin exchange-traded funds (ETFs) were approved two weeks ago. At press time, the  price of Bitcoin stands at $39,761, down by roughly 1% in the last 24 hours. Despite the current bearish trend, market participants still expect the bull market to launch in full force this year. The  Bitcoin halving is barely three months away and it usually signals the beginning of a Bull Run. If the bullish cycle commences this year, Bitcoin and altcoins could record massive gains in the coming months.  What is Bitbot?  The current bearish trend in the market hasn’t put a dent in the Bitbot ...

OKX and Web3 technology company HashKey Group are eyeing a strategic alliance targeted at promoting virtual asset innovation and adoption in Hong Kong. Elsewhere, the OKB token plummeted on Tuesday, dipping more than 25% to $39. Crypto exchange OKX and Web3 technology firm HashKey Group, are looking to partner to promote virtual asset innovation and adoption in Hong Kong. The companies said in a press release on Tuesday that the partnership will focus on various crypto related programs, including blockchain infrastructure, product development and education initiatives around virtual asset investment.  OKX and HashKey Group’s efforts will target initiatives that comply with the Hong Kong regulatory framework, according to the announcement. Notably, OKX and HashKey Group will look to tap into their respective company’s strengths and resources to drive growth across Hong Kong, one of the fastest growing crypto hubs in the world.  Today’s news comes days after OKX reveale...

Masa raised $3.5 million in a pre-seed round in 2022, and the seed funding brings the total to $9.2 million. Masa will use these funds to build its decentralised zk network for personal data on Avalanche. Masa Network, a platform building a zero-knowledge (zk) data network and marketplace, has raised $5.4 million in its seed round, according to an  announcement on Tuesday, January 23. Anagram, a venture capital platform co-founded by Lily Liu (Solana Foundation President) and Joe Eagan (former Polychain President), led the seed round. Other participants include Digital Currency Group, Avalanche Blizzard Fund, GoldenTree, and OP Crypto among others. The seed round adds to the $3.5 million Masa raised in a pre-seed funding round closed in 2022. With this funding, the platform has now raised a total of $9.2 million. Masa plans to use the new capital injection to build its decentralized network for personal data, which it dubs a “decentralized Google.” Per details published tod...

Bitcoin price has dipped below $40k, extending intraday losses to lows of $38,620. Solana (SOL) is down 10% at the time of writing, trading near $79 as altcoins bleed. Pullix (PLX), a new hybrid exchange in presale, has raised over $4.2 million as it attracts investors. The cryptocurrency market is mainly red today, with most top altcoins posting price movements that mirror the 4% dive witnessed in the Bitcoin (BTC) market. Per details on CoinGecko, the global crypto market is down 5% to $1.59 trillion as BTC price slipped to lows of $38,620. Solana (SOL) was trading below $80 as bears threatened to pull it further into the woods. As this happens, both the trading and presale market continue to prove attractive for buying opportunities. Pullix (PLX) , a new hybrid exchange token in presale, is among those seeing huge investor interest. This price prediction article looks at the outlook for Bitcoin and Solana and what that means for PLX. Bitcoin (BTC) price under pressure belo...

CryptoCom confirms Terra Luna Classic (LUNC) delisting. Terra Luna Classic (LUNC) sees a 13% price plunge. According to emails received by investors, the exchange is set to delist the coin on Feb 15. In a sudden turn of events, the Terra Luna Classic (LUNC) community is grappling with uncertainty following the confirmation of its delisting by Crypto.com. The news has sent shockwaves through the market, causing a 13% tumble in LUNC prices. Investors received emails about the delisting on February 15, raising concerns about the legitimacy of the information and potential phishing scams. Amidst this turmoil, Crypto.com has acknowledged the validity of the news, leaving the community eagerly awaiting official announcements. Terra Luna Classic community in turmoil The delisting of the LUNC comes hours after Terraform Labs filed for Chapter 11 bankruptcy protection in the US and the ensuing LUNC price drop has fueled a dilemma among holders, torn between selling their holdings and aw...

Alameda Research, an affiliate of bankrupt crypto exchange FTX has dropped its case against Grayscale. The lawsuit’s dismissal comes as Grayscale’s GBTC sees huge outflows following SEC’s spot Bitcoin ETF approval. Alameda Research, the collapsed crypto trading arm of bankrupt cryptocurrency exchange FTX , has dropped its lawsuit against Grayscale Investments. Reuters highlighted Alameda Research’s move to drop the case in a report on Monday. Alameda Research drops Grayscale lawsuit The FTX affiliate filed its lawsuit against Grayscale in March 2023 and alleged that the GBTC issuer had enriched itself at the expense of its shareholders. Alameda Research’s lawsuit came before Grayscale’s eventual victory over the US Securities and Exchange Commission (SEC), with the legal milestone setting in motion the events that led to SEC’s approval of several spot Bitcoin ETFs, including Grayscale’s Bitcoin Trust (GBTC). With the approval and conversion of GBTC into a spot ETF, Grayscale ...