TL;DR Breakdown The document outlines India’s recommendations and seeks to influence the framing of international crypto rules in the upcoming synthesis paper jointly produced by the International Monetary Fund (IMF) and the Financial Stability Board (FSB). The note’s key action points include urging the inclusion of the Financial Stability Board’s (FSB) recommendations and those of other standard-setting bodies in the synthesis paper. Description India, currently holding the presidency of the Group of Twenty (G20), has taken a proactive step in shaping global cryptocurrency regulations by releasing its presidency note on crypto. This official document outlines India’s recommendations and seeks to influence the framing of international crypto rules in the upcoming synthesis paper jointly produced by the International Monetary … Read more India, currently holding the presidency of the Group of Twenty (G20), has taken a proactive step in shaping global cryptocurrency regulations by releasing its presidency note on crypto. This official document outlines India’s recommendations and seeks to influence the framing of international crypto rules in the upcoming synthesis paper jointly produced by the International Monetary Fund (IMF) and the…

TL;DR Breakdown Coinbase commits to embracing Bitcoin Lightning, enhancing its potential for mainstream use. Armstrong refutes neglect claims, highlighting Coinbase’s substantial Bitcoin onboarding efforts. Dorsey initially criticizes, but later shows willingness to collaborate with Coinbase on Lightning. Description Coinbase Co-founder Brian Armstrong announced the company’s intention to embrace Bitcoin Lightning, further bolstering Bitcoin’s potential as a mainstream payment option. Armstrong’s statement came in response to accusations that Coinbase had ignored Bitcoin’s Layer 2 technology, the Lightning Network. “We’re investigating the most efficient means of incorporating Lightning,” said Armstrong. “It’s not easy, but it’s … Read more Coinbase Co-founder Brian Armstrong announced the company’s intention to embrace Bitcoin Lightning, further bolstering Bitcoin’s potential as a mainstream payment option. Armstrong’s statement came in response to accusations that Coinbase had ignored Bitcoin’s Layer 2 technology, the Lightning Network. “We’re investigating the most efficient means of incorporating Lightning,” said Armstrong. “It’s not easy, but it’s work I believe you should put in. Bitcoin as a mainstream payment option has my full support.” We’re looking into how to best add Lightning. It’s non-trivial, but I…

TL;DR Breakdown Bitcoin ETFs have birthed a new trend as Volatility Shares, Bitwise, VanEck, Roundhill, ProShares, and Grayscale file applications with the SEC for Ether ETFs. According to reports, the first ether futures ETF could go live on Oct. 12, 2023, if the SEC does not deny the application. Grayscale has 2 ETF applications, and its Ether ETF, if approved, will be traded on the Chicago Mercantile Exchange. Description According to reports, there are currently six Ethereum Futures ETFs awaiting approval from the SEC. Several weeks after the bitcoin spot ETF craze, these entities have filed applications with the U.S. Securities and Exchange Commission (SEC) for ether (ETH) futures-based exchange-traded funds (ETFs). How will this pan out? The race for Ether features begins The … Read more According to reports, there are currently six Ethereum Futures ETFs awaiting approval from the SEC. Several weeks after the bitcoin spot ETF craze, these entities have filed applications with the U.S. Securities and Exchange Commission (SEC) for ether (ETH) futures-based exchange-traded funds (ETFs). How will this pan out? The race for Ether features…

TL;DR Breakdown Kenya’s Ministry of the Interior has suspended Worldcoin’s operations. The suspension is for an investigation into legitimacy and data protection. Nairobi was a key market, with over 250,000 sign-ups. Description In a striking move against a global identity crypto protocol, Kenya’s Ministry of the Interior has suspended the operations of Worldcoin within the country. Worldcoin, co-founded by OpenAI’s Sam Altman, has come under scrutiny for its practices in collecting iris data. The suspension will remain effective as various Kenyan agencies assess the project’s risks to … Read more In a striking move against a global identity crypto protocol, Kenya’s Ministry of the Interior has suspended the operations of Worldcoin within the country. Worldcoin, co-founded by OpenAI’s Sam Altman, has come under scrutiny for its practices in collecting iris data. The suspension will remain effective as various Kenyan agencies assess the project’s risks to the public. Worldcoin’s initiative has aimed to create a global identification mechanism utilizing iris scans, a technology designed to verify that an agent is human and unique. This identification approach has been deemed potentially vital…

TL;DR Breakdown Fraudulent actors targeted patrons of the insolvent cryptocurrency brokerage, Voyager Digital, as they briefly gained a window of opportunity to withdraw portions of their funds.  One of the tactics employed involved luring customers with deceptive promises of significant returns through counterfeit websites.  The deception extended to fraudulent letters, calls, and emails, bearing the name of the platform’s CEO Stephen Ehrlich, falsely inflating returns through the counterfeit website. Description In a shocking turn of events, fraudulent actors targeted patrons of the insolvent cryptocurrency brokerage, Voyager Digital, as they briefly gained a window of opportunity to withdraw portions of their funds. The scammers employed a range of cunning tactics, as detailed in a report by Bloomberg, with promises of elevated returns through counterfeit websites being … Read more In a shocking turn of events, fraudulent actors targeted patrons of the insolvent cryptocurrency brokerage, Voyager Digital, as they briefly gained a window of opportunity to withdraw portions of their funds. The scammers employed a range of cunning tactics, as detailed in a report by Bloomberg, with promises of elevated returns through…

TL;DR Breakdown Global crypto markets have had a rough weekend and start of the week with hacks and the SEC-Coinbase legal rollercoaster.  The launch of Binance Japan has led to positive sentiments within the crypto market. MicroStaregy’s Bitcoin effect in the crypto market has led to a jump in prices across all major coins. Analysts anticipate that the Litecoin halving will have a positive impact on the market. Description The crypto markets have seen a dark 24 hours following hacks and false news in the market. However, that did not last long. The digital asset market’s resilience has been witnessed since Asian markets opened this morning. As reported, Bitcoin’s price sits above $29,400. Both bitcoin and ether started the Asian trading day in the … Read more The crypto markets have seen a dark 24 hours following hacks and false news in the market. However, that did not last long. The digital asset market’s resilience has been witnessed since Asian markets opened this morning. As reported, Bitcoin’s price sits above $29,400. Both bitcoin and ether started the Asian trading day…

TL;DR Breakdown Reports suggest that CEO Changpeng Zhao considered shutting down Binance’s arm in the United States as a means of safeguarding the global company.  The exchange and its CEO, Changpeng Zhao, have faced intensified regulatory scrutiny in the United States. Despite these challenges, the exchange has continued to expand its global operations. In a recent announcement, Binance unveiled the launch of Binance Japan on August 1. Description Binance, one of the world’s largest cryptocurrency exchanges, has found itself embroiled in regulatory challenges and faced mounting pressure from US regulators in recent months. Reports suggest that CEO Changpeng Zhao considered shutting down the platform’s arm in the United States as a means of safeguarding the global company. However, a unanimous decision to liquidate … Read more Binance, one of the world’s largest cryptocurrency exchanges, has found itself embroiled in regulatory challenges and faced mounting pressure from US regulators in recent months. Reports suggest that CEO Changpeng Zhao considered shutting down the platform’s arm in the United States as a means of safeguarding the global company. However, a unanimous decision to…

TL;DR Breakdown Thailand’s central bank has significantly increased its key interest rate to 2.25%, reaching the highest level in nine years. The central bank maintains its focus on ensuring inflation remains within the target range of 1%-3% Despite political unrest, Thailand’s economy is expected to grow by 3.6% this year. Description Thailand’s central bank has significantly increased its key interest rate, reaching the highest level in nine years. However, alongside this move, there are indications that the bank might be approaching the conclusion of its tightening measures. The Monetary Policy Committee of the Bank of Thailand voted to raise the one-day repurchase rate by 25 basis … Read more Thailand’s central bank has significantly increased its key interest rate, reaching the highest level in nine years. However, alongside this move, there are indications that the bank might be approaching the conclusion of its tightening measures. The Monetary Policy Committee of the Bank of Thailand voted to raise the one-day repurchase rate by 25 basis points to 2.25%, in line with widespread expectations. The policy statement’s wording strongly suggests that they…

TL;DR Breakdown By embracing blockchain technology, Shanghai aims to become a global leader in transitioning to digital-based economies. The city plans to construct a comprehensive blockchain infrastructure by the end of 2025, integrating with Hong Kong and Singapore for various applications. Shanghai’s three-year strategy focuses on Web3 technology, including blockchain, non-fungible tokens (NFTs), and the metaverse. Description Shanghai, China’s largest city and a vital financial center, has ambitious plans to become a global leader in transitioning to digital-based economies by embracing blockchain technology. According to a recent government report, the city intends to construct a comprehensive blockchain infrastructure by the end of 2025 to integrate with Hong Kong and Singapore for various … Read more Shanghai, China’s largest city and a vital financial center, has ambitious plans to become a global leader in transitioning to digital-based economies by embracing blockchain technology. According to a recent government report, the city intends to construct a comprehensive blockchain infrastructure by the end of 2025 to integrate with Hong Kong and Singapore for various applications such as digital assets, transportation, industrial internet-of-things, supply chain…

TL;DR Breakdown MicroStrategy returned to profitability in Q2 2023, reporting a net income of $22.2 million, contrasting with a net loss of $1.1 billion last year, largely due to reduced Bitcoin impairment charges. The company increased its Bitcoin holdings to 152,800 bitcoins worth approximately $4.5 billion and plans to sell up to $750 million in stocks for further Bitcoin acquisition. MicroStrategy’s share price has risen nearly 200% to $434.98, reflecting Bitcoin’s upward trend, though Q2 revenue fell slightly short of analyst estimates. Description In its second quarter, MicroStrategy (MSTR) recorded an impairment charge of $24.1 million on its Bitcoin (BTC) holdings, according to the latest earnings report. However, this is a notable decrease from the $917.8 million recorded in the same quarter of the previous year, and a slight increase from $18.9 million in Q1. The impairment reflects … Read more In its second quarter, MicroStrategy (MSTR) recorded an impairment charge of $24.1 million on its Bitcoin (BTC) holdings, according to the latest earnings report. However, this is a notable decrease from the $917.8 million recorded in the same quarter…