Crypto News

Hong Kong authorities have order Worldcoin (WLD) to cease biometric data collection in the country. Despite regulatory setbacks, Worldcoin’s user base has grown to 10 million users. The price of WLD temporarily dropped below $5 following the ban Hong Kong’s Office of the Privacy Commissioner for Personal Data (PCPD) has issued a directive to halt the operations of Worldcoin (WLD) within its jurisdiction. The order follows concerns raised by the PCPD regarding Worldcoin’s collection of biometric data, particularly iris scans, as part of its identity verification process. The PCPD deemed this data collection excessive, unnecessary, and unfair, in violation of Hong Kong’s Personal Data (Privacy) Ordinance. Investigation reveals contravention of data protection principles The PCPD’s investigation, initiated in January 2024, uncovered several contraventions of data protection principles by Worldcoin. Notably, participants were required to provide face and iris images for identity...

UK’s FCA approves Bitcoin and Ethereum ETPs. The ETPs will launch on the London Stock Exchange on May 28. Bitbot stands to benefit from the crypto ETPs approval, which is a mjor boost for the entire crypto industry. Bitcoin and Ethereum exchange-traded products (ETPs) are set to debut on the London Stock Exchange (LSE) after the UK Financial Conduct Authority (FCA) approved the ETPs by WisdomTree. Simultaneously, Bitbot , the world’s first AI-powered Telegram trading bot, is gaining traction in the crypto trading community, poised to leverage this momentum for its burgeoning platform. Approved Bitcoin and Ethereum ETPs to begin trading on May 28 On May 22, the FCA approved WisdomTree’s physical Bitcoin ETP (WBTC) and Ethereum ETP (WETH). The crypto ETPs are set to begin trading on May 28 according to reported ETF Stream . This approval follows the retail ban on crypto trading and the sale of crypto derivatives enacted in January 2021, restricting these new financial inst...

Key takeaways BTC is now trading around $71k per coin after adding 6% to its value. Bitbot’s presale has officially crossed the $3.5 million mark as it draws closer to its end. Bitcoin hits $71k as it eyes new all-time high Bitcoin, the world’s leading cryptocurrency by market cap, has been performing well over the past few days. It is up by more than 14% in the last seven days, allowing it to break past the $70k psychological level once again. At press time, the price of Bitcoin stands at $71,388, up by more than 6% today. The rally comes as the broader crypto market embarks on a recovery. If BTC continues with its recent momentum, it could set a new all-time high in the near term.  What is Bitbot? With the crypto market in a bull run, several projects are emerging that seek to make it easier for users to interact with the ecosystem. Bitbot is one of the projects that could change how cryptocurrency traders approach the market. Bitbot is a Web3 project designed solely ...

Yuga Labs faces backlash over its new Super Punk World collection. The Super Punk World collection pays homage to the irreverent, early-internet roots of CryptoPunks. Yuga Labs’ decision focuses on preservation and education rather than active development. Yuga Labs, the NFT giant behind the iconic CryptoPunks, has announced it will cease any further development on the project following intense community backlash over its new Super Punk World collection. The decision came after fervent criticism from the crypto community, accusing Yuga Labs of compromising the original essence of CryptoPunks with what some described as a “woke” initiative. The Super Punk World collection On May 20, the official CryptoPunks account launched the Super Punk World collection , featuring 500 pieces of hybridized 3D sculptures. These pieces, created by New York-based painter Nina Abney, were designed to pay homage to the irreverent, early-internet roots of CryptoPunks while addressing themes of rac...

Gala CEO says “we messed up our internal controls” after $200 million exploit. Attacker managed to sell 600 million tokens worth over $23 million; 4.4 billion GALA are effectively burned. GALA token nosedived 20% after the attack to hit lows of $0.038 before seeing a slight recovery. Gala Games CEO Eric Schiermeyer says “messed up” internal controls led to the security breach that saw 5 billion tokens worth over $200 million minted on Monday. The attacker proceeded to sell at least 600 million GALA tokens worth about $23 million via the decentralized exchange Uniswap. In an update , Schiermeyer said the Gala team managed to secure and remove unauthorised access to its smart contract within 45 minutes of the incident. Measures taken post the exploit included the freezing of 4.4 billion of unsold GALA tokens, which the CEO described as an “effective burn,” Commenting on the exploit, Schiermeyer said: “We messed up our internal controls…This shouldn’t have happened and we are ...

Central to the case were the copyright claims made by Craig Wright over Bitcoin’s whitepaper and code. COPA claims victory, aims to safeguard Bitcoin’s decentralized nature against unwarranted copyright claims. Judge Mellor cited fabricated evidence in Wright’s claims to be Satoshi Nakamoto. The UK High Court has delivered a damning verdict against Craig Wright, a controversial figure claiming to be the elusive creator of Bitcoin , Satoshi Nakamoto. Judge James Mellor, in a written judgment, asserted that Wright had lied “extensively and repeatedly” throughout the trial, further accusing him of presenting “fabricated” evidence to support his claims. COPA wins against Craig Wright Judge Mellor’s ruling serves as a culmination of a protracted legal battle that has spanned several years. The lawsuit, brought forth by the Crypto Open Patent Alliance (COPA), aimed to challenge Craig Wright’s assertions of ownership over the intellectual rights to Bitcoin’s code and whitepaper. Wri...

BingX is launching USDC-margined trading, a Launchpad and Launchpool as it celebrates its sixth anniversary. The platform plans to expand to Turkey, Vietnam and Argentina The exchange will also collaborate on a Netflix documentary aimed at animal protection and conservation.  Crypto exchange BingX is set to expand its crypto services and products to Turkey, Vietnam and Argentina, according to a press release published on Monday. The exchange’s global expansion will include localized products and campaigns, as well as key partnerships. BingX to launch USDC-margined futures trading BingX will also launch USDC-margin futures trading on its platform. There are also plans to expand the range of crypto assets for trading margin, while users will benefit from key updates on coin-margined futures trading, the exchange noted in the announcement . Also notable is BingX’s unveiling of a Launchpad and Launchpool, all part of a global expansion strategy dubbed “ExpansionX.” ...