TL;DR Breakdown Kaiko data shows the share of bitcoin trade volume on Japanese exchanges rose from 69% to 80% in Q1 2023. Historical data shows that citizens of nations plagued by inflation have embraced digital assets, and Japanese traders have joined the bandwagon. Trading activity on Japan-focused exchanges has increased faster than in Korean markets and the Coinbase exchange listed on the Nasdaq. The global 4-decade inflation rate is pushing investors to digital assets and natural resources. Description Bitcoin has found a new home in Japan. Since the Federal Reserve (Fed) began its aggressive interest rate hike campaign in March 2022, the Japanese yen has significantly depreciated. The Japanese Yen has experienced some of the most severe swings in exchange rates in history. The volatility has traders on Japan-focused digital asset exchanges turning … Read more Bitcoin has found a new home in Japan. Since the Federal Reserve (Fed) began its aggressive interest rate hike campaign in March 2022, the Japanese yen has significantly depreciated. The Japanese Yen has experienced some of the most severe swings in exchange rates in…

Description Turkey’s Central Bank announced it raised its primary interest rate by a modest 250 basis points to 17.5%, falling short of market expectations which forecasted a 500 basis point increase. The bank aims to combat rampant inflation, which has reached double-digits and sent the economy into turmoil. The announcement was made on Thursday, against market … Read more Turkey’s Central Bank announced it raised its primary interest rate by a modest 250 basis points to 17.5%, falling short of market expectations which forecasted a 500 basis point increase. The bank aims to combat rampant inflation, which has reached double-digits and sent the economy into turmoil. The announcement was made on Thursday, against market concerns about the government’s inadequate measures to rectify inflation. Also, this timid increment caused a half-percentage point decline in the value of the Turkish lira against the dollar, solidifying the 30% depreciation it has faced this year. The Turkish currency had earlier hit a record low of 26.9 against the dollar, suggesting a lack of confidence in the market’s expectation of the rate hike. Rebuilding trust…

TL;DR Breakdown Telegram bot tokens are experiencing a significant surge in value, nearing a $100 million market cap. Telegram’s user-friendly platform and innovative use cases have driven this growth, attracting traders and investors.   However, as this trend continues, caution and research are advised for those interested in these tokens. Description The rise in the market cap of Telegram bot tokens, which are moving toward the elusive $100 million threshold, has made headlines in the crypto industry. Telegram’s influence on crypto is more important than ever as crypto traders swarm to take advantage of this emerging trend. What are Telegram bot tokens? These are automated programs … Read more The rise in the market cap of Telegram bot tokens, which are moving toward the elusive $100 million threshold, has made headlines in the crypto industry. Telegram’s influence on crypto is more important than ever as crypto traders swarm to take advantage of this emerging trend. What are Telegram bot tokens? These are automated programs that enable users to implement on-chain trading or farming strategies through the messaging application by linking wallets…

TL;DR Breakdown FTX administrators are seeking to recover over $71 million from the FTX Foundation and Latona life sciences fund, alleging that the funds were used for personal gain by Sam Bankman-Fried. The court documents argue that the donations made to life sciences companies were misrepresented as altruistic, but were actually intended to enhance Bankman-Fried’s reputation and influence. This move follows previous efforts by FTX and Alameda to reclaim funds, including the recovery of $700 million allegedly transferred to a former aide of Hillary Clinton and investment firm K5 Global. Description In a bid to recover funds for creditors, administrators overseeing the bankruptcy proceedings of crypto exchange FTX are pursuing the retrieval of over $71 million from the exchange’s philanthropic arm, the FTX Foundation, and Sam Bankman-Fried’s Latona life sciences fund. These entities had received investments totaling $71.5 million from FTX and Alameda Research, which were … Read more In a bid to recover funds for creditors, administrators overseeing the bankruptcy proceedings of crypto exchange FTX are pursuing the retrieval of over $71 million from the exchange’s philanthropic arm, the…

TL;DR Breakdown ARK’s latest quarterly ETF report shows that Grayscale BTC ETF was one of the top contributors to the success of its ARKW in Q2. Grayscale BTC Trust shares accounted for approximately 7.5% of total ARKW holdings in Q2 2023, roughly the same amount as Tesla. Other ARKW’s top performers included the likes of Tesla, Shopify, Unity Software, and DraftKings. ARK’s quarterly report doesn’t include its recent Coinbase stock sales. In mid-July, ARK sold over one million Coinbase shares for $97 million. Description According to reports, the Grayscale Bitcoin Trust, a digital currency investment product, has emerged as the top-performing ETF on ARK’s list in Q2 2023. According to ARK’s most recent quarterly ETF report, released on July 19, GBTC was one of the leading contributors to the success of its ARK Next Generation Internet exchange-traded fund (ARKW) … Read more According to reports, the Grayscale Bitcoin Trust, a digital currency investment product, has emerged as the top-performing ETF on ARK’s list in Q2 2023. According to ARK’s most recent quarterly ETF report, released on July 19, GBTC was…

TL;DR Breakdown Blockchain experts have once again leveled claims of centralization against XRP following its court success against the SEC. Ripple explains the token’s role in the crypto sector. Description Last week’s partial court victory for Ripple Labs against the U.S. Securities and Exchange Commission (SEC) provided a sense of relief for the XRP Ledger project, which has long been under a regulatory cloud. However, criticisms from blockchain purists persist, claiming that XRPL’s technological design makes it too centralized compared to other blockchains. Experts argue … Read more Last week’s partial court victory for Ripple Labs against the U.S. Securities and Exchange Commission (SEC) provided a sense of relief for the XRP Ledger project, which has long been under a regulatory cloud. However, criticisms from blockchain purists persist, claiming that XRPL’s technological design makes it too centralized compared to other blockchains. Experts argue about XRPL’s design Derived from Bitcoin but based on early 2000s concepts, XRPL operates with a trade-off that allows a smaller group of “validators” or key operators to control its central transaction-processing mechanism. This centralization grants benefits…

TL;DR Breakdown The Bank of Korea (BOK) has announced that it has its sights set on the adoption of CBDC. The bank has been carrying out consultations and research to implement the payment system. Description The Bank of Korea (BOK) recently released its 2022 Payment and Settlement Systems Report, signaling successful oversight of the systems and a strategic focus on the future with Central Bank Digital Currency (CBDC). The report also shed light on the discussions surrounding stablecoin regulations in South Korea. BOK plans for the future with CBDC adoption … Read more The Bank of Korea (BOK) recently released its 2022 Payment and Settlement Systems Report, signaling successful oversight of the systems and a strategic focus on the future with Central Bank Digital Currency (CBDC). The report also shed light on the discussions surrounding stablecoin regulations in South Korea. BOK plans for the future with CBDC adoption One significant development highlighted in the report is the planned upgrade of the BOK-Wire+ fast payment system to a real-time gross settlement (RTGS) system. The transition to RTGS, coupled with the adoption…

TL;DR Breakdown Italian football club AC Milan has extended its partnership with crypto exchange BitMEX. Football clubs and crypto platforms continue to join forces. Description Italian soccer club AC Milan has recently announced the extension of its partnership with BitMEX, a prominent cryptocurrency exchange. BitMEX initially became the first-ever jersey sleeve sponsor for the team in 2021, and this new agreement sees the company elevated to the status of AC Milan’s premium partner, in addition to retaining its title as … Read more Italian soccer club AC Milan has recently announced the extension of its partnership with BitMEX, a prominent cryptocurrency exchange. BitMEX initially became the first-ever jersey sleeve sponsor for the team in 2021, and this new agreement sees the company elevated to the status of AC Milan’s premium partner, in addition to retaining its title as the club’s official cryptocurrency trading partner. BitMEX extends its partnership with AC Milan The collaboration between AC Milan and BitMEX has been fruitful since its inception. BitMEX’s logo has prominently appeared on the gameday sleeves of both the AC Milan men’s and…

TL;DR Breakdown Bitget, a leading global crypto exchange, has opened an office in Dubai to expand into the Middle Eastern market. The move reflects the growing legitimacy of cryptos and the Middle East’s vision of becoming a global financial and technological hub. The exchange’s presence in Dubai presents opportunities for strategic partnerships with local financial institutions and businesses. Description Bitget, a renowned global crypto exchange, has launched an office in Dubai, a daring move that reflects the region’s rising importance in the industry. The exchange has its sights set on the expanding market in the area, where it hopes to become a dominant force in the bitcoin sector. Established firms like Bitget are paying … Read more Bitget, a renowned global crypto exchange, has launched an office in Dubai, a daring move that reflects the region’s rising importance in the industry. The exchange has its sights set on the expanding market in the area, where it hopes to become a dominant force in the bitcoin sector. Established firms like Bitget are paying attention to the region as it experiences a…

TL;DR Breakdown SEC Chairman Gary Gensler seeks an additional $72 million in funding to address noncompliance issues in the crypto markets and strengthen investor protection. Gensler highlights the prevalence of fraud, scams, and abuse in the industry and emphasizes the need for the SEC to expand its workforce. Lawmakers question the SEC’s handling of alleged fraud at FTX, while Gensler argues for increased resources to fulfill the agency’s mission of advocating for investors and issuers. Description SEC Chairman Gary Gensler has called on the U.S. Senate Committee on Appropriations for a significant budget increase to fortify investor protection in the turbulent cryptocurrency markets. Amid a wave of noncompliance issues within the crypto industry, Gensler firmly advocates for an expanded agency presence. Funding the future of crypto regulation Describing the current state … Read more SEC Chairman Gary Gensler has called on the U.S. Senate Committee on Appropriations for a significant budget increase to fortify investor protection in the turbulent cryptocurrency markets. Amid a wave of noncompliance issues within the crypto industry, Gensler firmly advocates for an expanded agency presence. Funding…