Backpack, a crypto exchange founded by former FTX executives, has recently announced its expansion into 11 US states amid the tightening global crypto regulations. This move signifies the company’s dedication to growing its presence in the US market. In a recent announcement on social media, CEO Armani Ferrante expressed the company’s commitment to entering the
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Bitcoin is currently experiencing a retracement after rising to as high as $53,000 on February 20. Despite this recent dip, Bitcoin whales seem unfazed and are viewing it as an opportunity to accumulate more of the leading cryptocurrency. Ki Young Ju, the founder and CEO of the on-chain analytics platform Crypto Quant, shared on social
Recently, Bayo Onanuga, a special adviser to Nigerian President Bola Tinubu, criticized Binance for allegedly manipulating exchange rates and usurping the role of the Central Bank of Nigeria (CBN). Onanuga claimed that platforms like Binance were causing the devaluation of the national currency and called for a ban on cryptocurrencies in the country. This accusation
In recent years, there has been a noticeable decrease in the amount of Bitcoin stored in exchange wallets, indicating a significant change in investor behavior. This shift has been particularly apparent since mid-March 2020 when over 17% of Bitcoin’s total supply was held on exchanges, a record high at the time. Despite Bitcoin’s 2021 bull
In the fast-paced world of cryptocurrencies, Ethereum has been generating a significant amount of buzz recently. This buzz has only been amplified by Michaël van de Poppe, CEO of MN Trading, who has made a bold prediction about the future of Ethereum. Van de Poppe’s forecast suggests that Ethereum could see a substantial increase in
The VanEck Bitcoin exchange-traded fund (ETF) experienced an unexpected and significant surge in trading volume on Tuesday, reaching over $258 million in daily trading volume. This marked a 14-fold increase within a single day, which was an exceptional development for the ETF. Despite this achievement, VanEck’s ETF still faces challenges in keeping up with the
The recent surge in the Ethereum (ETH) price has sparked celebrations within the crypto community. However, amidst the excitement, renowned Bitcoin ETF expert Fred Krueger has expressed a starkly contrasting opinion. Krueger, a Wall Street veteran and prop trader, took to social media platform X (formerly Twitter) to voice his skepticism about the current valuation
NFTs have become a global sensation, offering a unique way to represent ownership of exclusive items. Sports Illustrated has recently jumped on the NFT bandwagon with their innovative ticketing platform, Box Office. This collaboration with Avalanche, a well-known blockchain network, marks a new era in the ticketing industry. Through the use of blockchain technology, individuals
Recently, Coinbase’s non-US exchange experienced an impressive milestone with over $1 billion in daily trading volume on Feb. 20. This achievement signifies a significant growth trajectory for the platform, especially in the realm of perpetual futures trading. Coinbase International Exchange, as stated by CEO Brian Armstrong, reached the $1 billion daily volume mark for the
The Hong Kong Monetary Authority (HKMA) recently announced new regulatory standards for the sale and distribution of tokenized financial products by authorized institutions. This move is aimed at fostering innovation while ensuring robust consumer protection in the field of tokenization. The guidelines define the scope of tokenized products falling under this regulatory framework, excluding those
Recently, global asset management firm Bernstein has expressed strong confidence in the possibility of the United States Securities and Exchange Commission (SEC) approving an Ethereum Spot ETF. Analysts Gautam Chhugani and Mahika Sapra from Bernstein believe that Ethereum, the second-largest cryptocurrency in the world, may be the next digital asset to receive an ETF approval
Wall Street Memes has recently announced a major new burn mechanism that is set to ignite a significant change in the $WSM token dynamics. This new mechanism involves burning 5% of the total $WSM supply, which equates to around 100 million tokens. The burn mechanism will be applied to all Net Gaming Revenue (NGR) generated
Cryptocurrency analyst Michaël van de Poppe has made a bold prediction for Ethereum, suggesting that the price could potentially soar to $4,500. Van de Poppe believes that Ethereum is capitalizing on Bitcoin’s upward momentum as investors shift their focus towards ETH. This shift has been seen as a significant move in the crypto market, with
The recent sale of a complete set of 10 Autoglyphs has sent shockwaves through the blockchain and art communities, garnering attention for its staggering purchase price of 5,000 ETH, equivalent to approximately $14.6 million today. This sale stands as the highest NFT sale in the past two years and the fifth-largest on-chain purchase to date,