15 Jan 2025

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Stay ahead of the curve with The Coinomist’s breaking news coverage. From major market shifts to regulatory updates and industry-defining announcements, we deliver the critical information you need, fast and accurate. Be the first to know about the stories shaping the world of cryptocurrency, business, investing, and Web3.

Singapore restricts stablecoin options

Singapore restricts stablecoin options

Under the new regulations, stablecoin transfers will require up to three business days. This rule has caused bewilderment within the blockchain community. However, officials state that this restriction is consistent with the pace of standard domestic money transfers and will also apply to stablecoin redemptions. “The redemption timeline is intended to strike a balance between responsiveness to users’ requests and ensuring there is enough time for the SCS issuer to do so in an orderly manner under various stress situations,” added the regulator.

15 Aug 2023
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Immutable launches zkEVM testnet

Immutable launches zkEVM testnet

Web3 gaming platform is launching a Layer 2 blockchain testnet, Immutable zkEVM, to reduce dependence on a single network infrastructure. The platform utilizes Polygon Supernets, which facilitate the creation of application-specific blockchains.

15 Aug 2023
The first Bitcoin-EFT in Europe launched on Euronext

The first Bitcoin-EFT in Europe launched on Euronext

acobi Asset Management Lists Europe’s First Spot Bitcoin ETF on Euronext Amsterdam Exchange. “It is exciting to see Europe moving ahead of the US in opening up Bitcoin investing for institutional investors who want safe, secure access to the benefits of digital assets,” says the company’s CEO, Martin Bednall. Well, now it’s the USA’s turn!

15 Aug 2023
Coinbase Introduces Stand with Crypto Alliance

Coinbase Introduces Stand with Crypto Alliance

This initiative aimed at countering anti-crypto legislation by mobilizing the community. Coinbase’s long-term plan is focused on cultivating a grassroots movement and building an engaged community that advocates for positive legal changes and crypto-friendly regulations. This initiative marks the nation’s first ever independent on-chain advocacy organization, driven by and for crypto enthusiasts. As of now, the initiative boasts 54 161 supporters on its webpage.

15 Aug 2023
Singapore’s Central Bank Unveils Stablecoin Regulatory Framework

Singapore’s Central Bank Unveils Stablecoin Regulatory Framework

Singapore’s central bank, the Monetary Authority of Singapore (MAS), has released a final regulatory framework for single-currency stablecoins (SCS) under its regulation. MAS stated that the framework’s goal is to guarantee “a significant level of value stability” for stablecoins. This framework will be applicable to all stablecoins tied to the Singapore Dollar or any other G10 currency issued within Singapore.

15 Aug 2023
What’s Happening with SBF?

What’s Happening with SBF?

As he awaits his trial scheduled for October 2nd, Sam Bankman-Fried finds himself in the Brooklyn Metropolitan Detention Center, notorious for its unsafe and unsanitary conditions. In the past two days, two notable developments have emerged: Yesterday, his legal team sought approval from a federal judge to allow him access to antidepressants while in detention. According to a letter from his doctor, Sam has been receiving psychiatric treatment since February 2019 and “has a history of Major Depressive Disorder and Attention Deficit Hyperactivity Disorder (ADHD).” Meanwhile, federal prosecutors claim that Bankman-Fried used funds taken from FTX customers to contribute more than $100 million to political campaigns before the 2022 U.S. midterm elections. Antidepressants won’t help here either.

15 Aug 2023
GTA Developer Ventures into Web3 Gaming

GTA Developer Ventures into Web3 Gaming

In collaboration with its subsidiary Zynga, acquired for $12.7 billion last year, Take-Two is launching “Sugartown,” a web3 game built on Ethereum, marking the debut of a “major mobile game developer” crafting a crypto-based game “from the ground up.” Players will utilize Ethereum (or ERC-721) tokens to access the game, stake for energy, and earn in-game currency. Access tokens named Oras will also be minted this year as part of an initial release.

15 Aug 2023
Celebrating a milestone: WhiteBIT Coin turns one!

Celebrating a milestone: WhiteBIT Coin turns one!

A year has passed since WhiteBIT’s exchange token was unveiled on August 14th. In this brief time, the team behind it didn’t just rest on their laurels; they launched a blockchain, making WBT’s first anniversary a celebration of a genuine coin! Facing the challenges of a prolonged bear market head-on, WBT swiftly carved out its own space, gaining a legion of ardent supporters. Its market standing? A noteworthy triple of its inaugural IEO pricing and a 5th rank amidst centralized exchange tokens, as chronicled by CoinGecko. We salute this shining star and hope for further ascent, delighting all crypto enthusiasts who set the level!

14 Aug 2023
Coinbase’s Base: Pollak Debunks Centralization Myths

Coinbase’s Base: Pollak Debunks Centralization Myths

Jesse Pollak, Coinbase protocols lead, has clarified the “permissionless” nature of Coinbase’s Layer 2 blockchain, Base, on X (formerly Twitter). Responding to Gnosis founder Martin Köppelmann’s concerns about Base’s centralization, Pollak emphasized that Coinbase doesn’t have unilateral control over contracts or the ability to freeze funds on the network. Despite being the sole operator of Base’s sequencer, Pollak insists that the platform aims to be open, permissionless, and decentralized.

14 Aug 2023
CoinDesk’s Editorial Team Shrinks by 45%

CoinDesk’s Editorial Team Shrinks by 45%

The decision comes as its parent company, Digital Currency Group (DCG), is in talks to bring in strategic investors. CoinDesk’s CEO, Kevin Worth, described the move as necessary for a “financially sound business” and to facilitate the sale of CoinDesk Inc. This layoff affects 20 individuals, making up almost half of the editorial team. Earlier reports suggested CoinDesk was close to a $125 million deal led by crypto investor Matthew Roszak of Tally Capital.

14 Aug 2023
FedNow Showcases Hedera-Based Dropp Platform

FedNow Showcases Hedera-Based Dropp Platform

The U.S. Federal Reserve’s instant payment system, FedNow, has highlighted Dropp, a micropayments platform built on Hedera Hashgraph, in its Service Provider Showcase. This section connects financial institutions with providers that can assist in implementing instant payment products using FedNow. Dropp offers a digital solution for merchants to accept payments at reduced costs, leveraging DLT and banking tech. While this suggests the Federal Reserve’s growing interest in DLTs, FedNow clarifies that the showcase is merely for convenience and doesn’t imply endorsement.

14 Aug 2023
Only 13% of сrypto сompany applications approved by Britain’s FCA

Only 13% of сrypto сompany applications approved by Britain’s FCA

The UK’s Financial Conduct Authority (FCA) has disclosed details concerning the approval process for registrations of cryptocurrency-related companies. Since the beginning of 2020, out of 291 applications received, only 38 have met the criteria for approval. This culminates in an endorsement of only 13% of the requests. Meanwhile, 155 were retracted, often on the advice of the FCA, for re-submission at a later date when in better adherence to the requisite standards. In the UK, cryptocurrency companies must be formally registered with the FCA to conduct their activities within the bounds of the law.

14 Aug 2023
Frax DAO eyes acquisition of CRV tokens

Frax DAO eyes acquisition of CRV tokens

The Snapshot platform has recently showcased a proposal: allocate 1 million FRAX tokens from the treasury and use them to buy CRV tokens. This, according to the initiative’s creator, will fortify the community’s foothold in DeFi for years to come and enhance liquidity for pairs involving FRAX.

14 Aug 2023
Coinbase expands to Canada with official launch

Coinbase expands to Canada with official launch

Coinbase, the cryptocurrency exchange, has joined forces with Peoples Trust Company. This collaboration facilitates access to the Interac e-Transfers system, streamlining deposit and withdrawal processes for its Canadian user base. What’s more, they’re gifting users a one-month free gateway into the Coinbase One subscription. This means no trade-related fees, amplified staking profits, and swift client support. “Canada is well positioned to be a global leader in the cryptoeconomy thanks to the high levels of crypto awareness, a passionate local tech ecosystem, and the progress towards a strong regulatory framework,” voiced Nana Murugesan, the International Development VP at Coinbase.

14 Aug 2023
BALD Scammers Move Millions

BALD Scammers Move Millions

The BALD project’s scammer team managed to relocate 7000 ETH ($13 million) from Base network into Ethereum. Not stopping there, they sent 2100 ETH (around $4 million) to the Kraken exchange, possibly gearing up for a grand withdrawal. Want the full story on this crafty meme coin scam? Read all about it in our detailed article!

14 Aug 2023
Uniswap developer dismissed due to fraudulent activity

Uniswap developer dismissed due to fraudulent activity

Hayden Adams, the founder of Uniswap Labs, has dismissed a developer known by the pseudonym AzFlin following allegations of creating a FrensTech meme coin and then withdrawing liquidity shortly after its launch. Preliminary damages are estimated at 14 wETH, equivalent to approximately $25,830. Adams stressed that the company does not condone such actions and, therefore, felt compelled to respond accordingly. The developer denies the accusations of fraud and describes the situation as FUD. According to him, he only withdrew 1 ETH from the liquidity pool, which he had initially provided from his own funds.

14 Aug 2023
Bitcoin finds favor in Argentina’s political landscape!

Bitcoin finds favor in Argentina’s political landscape!

In the Argentine primary elections, Javier Milei, a candidate who supports Bitcoin and vehemently opposes the Central Bank, has garnered most of the votes. He’s not shy about criticizing the Central Bank, dubbing it a conduit for politicians to exploit Argentinians via inflation. Milei is convinced that the salvation lies in Bitcoin, which can instill privacy back into finances. Simultaneously, Bitcoin has hit a fresh historical maximum value when measured in Argentine peso.

14 Aug 2023
Goldman Sachs Envisions Gradual Fed Rate Cuts

Goldman Sachs Envisions Gradual Fed Rate Cuts

Their economists anticipate a reduction in interest rates by late June next year, following a gradual quarterly decrease pattern. “The cuts in our forecast are driven by the desire to normalize the funds rate from a restrictive level once inflation is closer to the target,” says Jan Hatzius, a senior economist at Goldman. Goldman forecasts rate cuts in Q2 2024, expecting 25 basis point reductions per quarter with pace uncertainties. “We expect the funds rate to eventually stabilize at 3-3.25%,” say their economists.

14 Aug 2023
A decade of Telegram – the platform turns 10 today!

A decade of Telegram – the platform turns 10 today!

Pavel Durov, the founder of the network, sent out warm wishes to all users from his channel. Some highlights: Telegram’s decade-long marathon has culminated in a robust 800 million active user base, all achieved advertisement-free; The next ambition is to exceed basic communication and metamorphose into something transcending a mere social platform. The next 10 years promise the unfolding of Telegram’s full promise. Celebrating this landmark! Our journey lacks essence without you!

14 Aug 2023
Coca-Cola Unveils NFT Collection on Base Network

Coca-Cola Unveils NFT Collection on Base Network

The Masterpiece collection of 8 NFTs presents a fusion of renowned artworks and creations by emerging artists, all integrated with the iconic Coca-Cola bottle. Timeless masterpieces such as “The Scream” by Edvard Munch, “Girl with a Pearl Earring” by Johannes Vermeer and “Bedroom in Arles” by Van Gogh harmonize with contemporary works by promising talents. Mint value: 0.011 – 0.014 ETH

14 Aug 2023
Former SEC Official Doubts Approval of Bitcoin Spot ETF

Former SEC Official Doubts Approval of Bitcoin Spot ETF

John Reed Stark, ex-chief of the SEC’s Office of Internet Enforcement, believes the current SEC won’t approve a Bitcoin spot ETF due to various reasons. However, Stark suggests that if a Republican wins the 2024 presidential election, the SEC might ease its crypto-enforcement and be more open to a Bitcoin spot ETF. He also speculates that SEC chair Gary Gensler might resign, potentially paving the way for Hester Peirce, known as “Crypto Mom”, to take a leading role.

13 Aug 2023
Eminent legal experts stand with Coinbase

Eminent legal experts stand with Coinbase

Amid the unresolved dispute between Coinbase and the SEC, a number of esteemed legal academics have weighed in, penning a court statement in support of the cryptocurrency exchange. Their stance is clear: an asset should only be deemed an investment contract if it promises profits, earnings, or assets from investments. Scholars assert that the court must strictly follow this legal definition, otherwise, it may jeopardize belief in existing securities laws.

13 Aug 2023
The tale of Jack Raines: $90 million through ChatGPT

The tale of Jack Raines: $90 million through ChatGPT

“Soho House, an elite club where memberships are priced between $2450 and $4800. What I did was create an AI model of a woman (based on ChatGPT), a marketing expert, who would invite young and affluent men for business meetups.” Success came without delay: “The AI’s efforts resulted in approximately 30,000 men accepting the invitation, bringing in about $90 million, as all of them had to secure a membership.” But that’s not the end of Jack’s endeavor; he aimed for personal gain: “The main thing is, I managed all of this within a week, precisely when the company was to disclose its 2023 second-quarter gains, and in doing so, I bought options valued at $50,000.” In the end, Soho House’s shares rose nearly 20%, and Jack’s earnings were substantial.

12 Aug 2023
Sam Bankman-Fried’s bail release overturned by court

Sam Bankman-Fried’s bail release overturned by court

The ex-CEO of FTX will now be detained in a New York jail until his court hearings are complete. The revealing of snippets from Caroline Ellison’s diary to The New York Times, viewed as potential witness tampering, significantly impacted the verdict. Additionally, he has reportedly breached house arrest guidelines by accessing VPN and Signal.

12 Aug 2023
FC Barcelona acquires $132 million to fuel Its blockchain project

FC Barcelona acquires $132 million to fuel Its blockchain project

Football club Barcelona, an official partner of the cryptocurrency exchange WhiteBit, has divested some of its shares in Bridgeburg Invest.The aim? Raise funds for a new Web3 endeavor named Barca Vision. This project is designed to become a hub for all club-related digital wonders, be it NFTs or metaverse explorations.

11 Aug 2023
Kucoin Ad - Billboard 930x180 - EN - The Coinomist

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Zora Network Reviewed: A Testnet Guide

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