August 24, 2024 at 04:55 AM GST updated: August 24, 2024 at 03:30 AM 2 mins read News Crypto advocates challenge SEC’s CAT program over privacy concerns. SEC’s CAT could link personal info to blockchain wallets, sparking a legal battle. Potential Gensler nomination as Treasury Secretary stirs political discussion The Blockchain Association and DeFi Education…
Over the past five days, the stablecoin market has continued its upward trend, increasing by $1.3 billion in value. The largest stablecoin network by market capitalization, tether (USDT), experienced an expansion of 820 million in supply during this period. Tether’s Supply Swells by 820M Amid $1.3B Stablecoin Market Boost The stablecoin economy is gaining momentum…
Anchorage Digital has launched its first stablecoin rewards program for Paypal USD (PYUSD) holders, offering institutions a secure way to earn rewards. Available through Anchorage Digital’s platform and the Porto self-custody wallet, the program emphasizes security by avoiding rehypothecation, staking, or lending. Anchorage Digital and Paypal Unveil Secure Rewards Program for PYUSD Holders Anchorage Digital…
Former U.S. President Donald Trump has promoted his family’s new cryptocurrency platform, “The Defiant Ones,” to his 7.5 million followers on Truth Social, framing it as a response to financial inequality. The Trump Organization’s crypto initiative, which has garnered attention from Eric and Donald Trump Jr., aims to challenge traditional banks. Trump Promotes New Cryptocurrency…
Franklin Templeton has extended its blockchain initiatives by launching its tokenized U.S. Government Money Fund on the Avalanche network. This move marks another expansion of the firm’s onchain financial products. Avalanche Adds Franklin Templeton’s Tokenized Money Fund to Its Blockchain Ecosystem Franklin Templeton, an investment firm with $1.6 trillion in assets under management, has integrated…
Germany’s Federal Financial Supervisory Authority (BaFin) has seized 13 unauthorized cryptocurrency ATMs in a nationwide operation involving 60 officers and raids on 35 locations. BaFin reported that the machines facilitated illegal transactions and posed money laundering risks. Under German law, trading currencies, including cryptocurrencies, without proper authorization is illegal, with violators facing up to five…
Five days ago, Arkham Intelligence revealed that Blackrock, the world’s largest fund manager, was on the brink of overtaking Grayscale in onchain asset value. As of Aug. 21, Blackrock has officially surpassed Grayscale, securing its position as the top digital asset manager in terms of onchain reserves. World’s Largest Fund Manager Just Surpassed Grayscale in…
Global financial services provider State Street has announced a strategic partnership with digital asset infrastructure provider Taurus to enhance its digital asset services. This collaboration aims to offer a comprehensive digital platform, including tokenization and digital custody, expanding State Street’s existing capabilities in fund administration. State Street Partners With Taurus to Expand Digital Asset Services…
Bitfufu Inc., a Nasdaq-listed cloud mining services company, announced a 69.7% revenue jump for the second quarter of 2024, bringing in $129.4 million. The Singapore-based firm, established in 2020 by CEO Leo Lu, credited this growth largely to a substantial increase in cloud mining revenue, which made up more than half of the quarter’s earnings….
The Bank of Ghana has released draft regulations aimed at creating a framework for the cryptocurrency industry. The rules are designed to protect consumers, prevent financial crimes, and encourage financial inclusion. Virtual asset service providers (VASPs) will be required to register and meet strict standards, while commercial banks are prohibited from dealing directly with virtual…
While the Republican platform addresses the issue of cryptocurrency and bitcoin, the Democratic Party’s latest platform remained silent on the matter. Adding to the buzz, there are whispers that Kamala Harris’s campaign might be eyeing Gary Gensler, the current head of the U.S. Securities and Exchange Commission, for the role of Treasury Secretary. Democrats’ Latest…
Indian crypto exchange Wazirx says cybersecurity firm Mandiant, a Google subsidiary, has confirmed that Wazirx team laptops were not compromised during the $230 million cyberattack. The exchange added that attention is now focused on custodian Liminal’s wallet infrastructure, and the investigation’s findings have been shared with law enforcement and other agencies to assist in recovering…
The stablecoin market has been picking up speed lately, and between Aug. 9 and Aug. 18, 2024, it expanded by $2.21 billion. During this period, Tether’s supply ballooned by an additional 1.26 billion USDT. Stablecoin Boom: $2.21B Growth Driven by Tether and PYUSD Between Aug. 9 and Aug. 18, 2024, the stablecoin economy expanded by…