cryptobusiness
Bybit, a leading global cryptocurrency exchange by volume, has announced its integration of Fireblocks’ Off Exchange solution to enhance security and mitigate counterparty risk for institutional trades. This strategic move is designed to bolster asset protection and improve trading efficiency for institutional clients. Leveraging Fireblocks for enhanced securityBybit’s integration of Fireblocks’ Off Exchange solution marks a significant step in addressing the critical issue of counterparty risk. The Off Exchange platform allows institutional traders to execute trades on centralized exchanges t...
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MAGA (TRUMP), the popular meme token linked to ex-president Donald Trump stirred the crypto world with significant whale actions over the past few day. Lookonchain revealed that market-moving investors have offloaded around 473K MAGA coins, accumulating substantial returns. While investors netted significant returns, the actions come amid increased market volatility and declined fear of missing out (FOMO). Whales offload $TRUMP coinsMAGA has seen increased attention over the past few sessions, recording bullish actions as the former president magnified his crypto focus. Meanwhile, data shows p...
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A leading crypto exchange, Uphold, revealed that it will cease support for several stablecoins for its European customers from 1 July. The assets in question are Tether (USDT), TrueUSD (TUSD), Pax Dollar (USDP), Gemini Dollar (DUSD), Frax Protocol, and Dai (DAI). Also, crypto exchanges such as Binance, OKX, and Kraken have modified their stablecoin listing rules. That comes as the European market awaits MiCA stablecoin rules implementation in the Economic Area on 30 June. Uphold delists six stablecoins to comply with MiCAUphold has joined the leading exchanges removing stablecoins to comply wi...
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The Australian Securities and Investments Commission (ASIC) has issued a cautionary statement to investors in anticipation of the launch of Bitcoin exchange-traded funds (ETFs) on the Australian Stock Exchange (ASX). The regulatory body highlighted the inherent risks associated with cryptocurrencies, emphasizing that investors should only use funds they are “prepared to lose.” ASX approves first Bitcoin ETFThis advisory comes in the wake of the ASX approving the country’s first spot Bitcoin ETF. The approval marks a significant milestone for the Australian financial market, introducing a new i...
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Cryptocurrencies are gaining increased interest in the United States’ political realm. Former president Donald Trump has displayed his positive stance on the asset class, even supporting crypto donations in his campaigns. Trump’s pro-crypto actions have seemingly grabbed the attention of the entire political arena. Congressperson Ro Khanna will host a pivotal Bitcoin strategic talk with the Biden Administration and various industry figures in Washington DC in July. Meanwhile, a new meme token, Solciety (SLCTY), looks to capitalize on this craze for solid growth during the election period. Bide...
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Cryptocurrency exchange Traded Products (ETPs) continue to have a record-breaking 2024, according to latest research. New data, released this week by digital asset and fintech investment firm Fineqia International Inc (CSE: FNQ), showed that ETPs trading in digital assets reached a new all-time high in May 2024. The research, in which Fineqia studied 194 top international ETPs, showed that ETPs with digital assets as underlying collateral increased their total global Assets Under Management (AUM) to $95.4 billion in May – a new record amount. The total AUM recorded at the end of May represents...
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Galaxy Digital CEO trusts that themed digital coins, such as Dogecoin, Shiba Inu, PepeCoin, and Dogwifhat, vital in ensuring stability in the cryptocurrency sector. Memecoins aren’t going anywhereThe executive emphasized that meme assets are vital in the crypto world, describing the class as the cornerstone of the digital economy. Novogratz highlighted how themed tokens dominate financial trends as among “the most powerful narratives.” He added that meme tokens on permissionless blockchains boast over $60 billion in market capitalization. Memecoins grab investor interest amid market volatility...
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It’s been a busy month so far for the VGX team, with a new leader at the helm and a new partnership to boot. VGX introduces chairman Matteo PerruccioRecently, the VGX Foundation announced that it has appointed Matteo Dante as its Chairman. The VGX Foundation has been set up to support the VGX token, a digital asset used in conjunction with new Web 3.0 games and has already been integrated into multiple games, most famously Gala Games. Through the use of VGX coins, games and gamers can earn and access and us in-game rewards across various Web 3.0 games, regardless of the platform. This has been...
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Cryptocurrency exchange OKX has reimbursed two of its customers whose accounts were compromised. The attack transpired on June 9 due to vulnerabilities in the exchange’s security. According to journalist Colin Wu, both the users have received full compensation. A measure that was promised by the exchange in case it was at fault. OKX sees massive withdrawals following hackThe user compensation comes as the exchange saw massive outflows a day after the two victims lost access to their accounts. Approximately $204 million left the exchange’s wallets within 24 hours following the exploit. Over the...
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While the broad crypto market remains downbeat, AI-linked digital coins record the most declines as Apple’s WWDC failed to match the expected buzz. Market players anticipated groundbreaking advancements in AI at the annual conference. Indeed, the company announced “Apple Intelligence” and a new deal to integrate ChatGTP. However, these announcements failed to stir the markets, and Elon Musk’s warning added to the downbeat mode. The Tesla executive promised to prohibit Apple devices at his firms if the tech giant integrates OpenAI’s ChatGTP. In response to Apple CEO Tim Cook’s post, Musk added,...
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