TL;DR Breakdown FCA disrupts the majority of crypto ATMs and warns users of criminal involvement. Crypto ATM users lack protection, and FCA urges compliance and vigilance. A recent case highlights the risks of crypto scams and impersonation tactics. Description The Financial Conduct Authority (FCA), the renowned financial watchdog in the United Kingdom, announced the disruption of 26 out of 34 cryptocurrency ATMs it inspected. Firmly addressing the UK crypto ATM operators on February 14, the FCA issued a stern warning, clarifying that compliance with legislation or facing closure of illicit activities was the only … Read more The Financial Conduct Authority (FCA), the renowned financial watchdog in the United Kingdom, announced the disruption of 26 out of 34 cryptocurrency ATMs it inspected. Firmly addressing the UK crypto ATM operators on February 14, the FCA issued a stern warning, clarifying that compliance with legislation or facing closure of illicit activities was the only way forward. Responding promptly, the FCA, in collaboration with other law enforcement authorities, launched 36 investigations into cryptocurrency ATMs, exercising their authority under anti-money laundering laws. #Crypto ATMs…

TL;DR Breakdown Circle CEO Jeremy Allaire suggests Chinese Yuan-backed stablecoins for internationalization. Stablecoins offer a more effective path for RMB internationalization, says Allaire. China faces challenges in altering its trade settlement structure, according to Setser. Description In a recent interview with the South China Morning Post, Circle CEO Jeremy Allaire proposed an innovative solution to help China achieve its goal of internationalizing the Chinese Yuan (CNY). Allaire suggested that the Chinese government consider allowing Chinese Yuan-backed stablecoins, emphasizing their potential to expand the currency’s usage in global trade and business. While … Read more In a recent interview with the South China Morning Post, Circle CEO Jeremy Allaire proposed an innovative solution to help China achieve its goal of internationalizing the Chinese Yuan (CNY). Allaire suggested that the Chinese government consider allowing Chinese Yuan-backed stablecoins, emphasizing their potential to expand the currency’s usage in global trade and business. While Allaire recognizes the value of central bank digital currencies (CBDCs), stablecoins offer a more effective path toward RMB internationalization. Allaire expressed optimism regarding central banks embracing distributed ledger technology and upgrading…

Description In the bustling world of crypto investment, information is the most valuable currency. From experienced whales shifting markets with monumental transactions, to newcomers purchasing their first fractions of Bitcoin, the need for rapid, accurate, and actionable data is universal. As the market continues to evolve at a breakneck pace, the importance of staying abreast of … Read more In the bustling world of crypto investment, information is the most valuable currency. From experienced whales shifting markets with monumental transactions, to newcomers purchasing their first fractions of Bitcoin, the need for rapid, accurate, and actionable data is universal. As the market continues to evolve at a breakneck pace, the importance of staying abreast of the latest trends, coin launches, and investment strategies cannot be overstated. In recent years, two platforms have emerged as leading sources of information and discussion in the crypto sphere: Discord vs Twitter. Both provide a wealth of resources for crypto investors, but each offers a unique set of benefits that can serve different aspects of an investor’s strategy. This guide aims to explore and compare the…

TL;DR Breakdown The study found that sentiment expressed on social media platforms was a strong predictor of crypto returns, whereas sentiment derived from news media did not have the same impact. Despite being considered a highly volatile asset, the researchers found that market exuberance positively influenced momentum without significantly affecting volatility. The paper posits that sentiment impacts crypto returns primarily through price perception and demand shocks, rather than through the traditional risk premium channel. Description A recent study conducted by researchers at Pennsylvania State University delved into the relationship between social media, attitudes, emotions, and the cryptocurrency market. The findings of their analysis may challenge conventional wisdom regarding similar trends in other financial markets. The research paper highlighted the significant role that social media platforms play in cryptocurrency adoption and … Read more A recent study conducted by researchers at Pennsylvania State University delved into the relationship between social media, attitudes, emotions, and the cryptocurrency market. The findings of their analysis may challenge conventional wisdom regarding similar trends in other financial markets. The research paper highlighted the significant role that…

TL;DR Breakdown Despite Threads growing popularity, with over 98 million sign-ups since its release on July 5, several high-profile Crypto Twitter users have already encountered imposter accounts and warned others about them. One of the notable incidents occurred when Wombex Finance, a decentralized finance platform, tweeted about a Threads account impersonating their project.  These scammers links typically aim to trick unsuspecting targets into sharing sensitive information, such as their crypto exchange login credentials, crypto wallet seed phrases, or connecting their wallets to crypto-draining smart contracts. Description Since the launch of Meta’s new microblogging app, Threads, scammers have wasted no time in attempting to deceive users. Despite the app’s growing popularity, with over 98 million sign-ups since its release on July 5, several high-profile Crypto Twitter users have already encountered imposter accounts and warned others about them. One of the notable incidents … Read more Since the launch of Meta’s new microblogging app, Threads, scammers have wasted no time in attempting to deceive users. Despite the app’s growing popularity, with over 98 million sign-ups since its release on July 5, several…

TL;DR Breakdown Bitcoin hash rate hit an all-time high of 465 EH/s over the weekend Miners could suffer after the next halving BTC price has been quite stable over the weekend, above $30,000 Description Bitcoin’s hash rate climbed to an all-time high over the weekend, spiking to 465 EH/s on Saturday from 406 EH/s. Even though the value decreased by 6% to 428 EH/s on Sunday, the hash rate is still at its highest. Meanwhile, there was also a 3-day average rise of more than 18% to 444 EH/s. … Read more Bitcoin’s hash rate climbed to an all-time high over the weekend, spiking to 465 EH/s on Saturday from 406 EH/s. Even though the value decreased by 6% to 428 EH/s on Sunday, the hash rate is still at its highest. Meanwhile, there was also a 3-day average rise of more than 18% to 444 EH/s. Bitcoin hash rate increases BitInfoCharts notes that the bitcoin hash rate hit a record high on July 8 at 465 EH/s. Notably, a more secure network correlates with a higher hash rate, which…

TL;DR Breakdown Binance announces the Arkham (ARKM) token sale on its Launchpad platform, with a hard cap of $2.5 million and a maximum allocation of 300,000 ARKM tokens per user. The Arkham project aims to deanonymize blockchain technology and establish a decentralized token financial system. It operates as a blockchain analytics platform and introduces an on-chain intelligence exchange. Binance implements measures to ensure fairness, including a subscription-based model, acceptance of only BNB coins, and restrictions on participation from certain jurisdictions. Description Binance has unveiled its 32nd token sale project on the Launchpad platform, featuring the Arkham (ARKM) project. With a total hard cap of $2.5 million, the Arkham token sale on Binance Launchpad will offer users the opportunity to acquire a maximum of 300,000 ARKM tokens, equivalent to $15,000, as the project aims to raise funds … Read more Binance has unveiled its 32nd token sale project on the Launchpad platform, featuring the Arkham (ARKM) project. With a total hard cap of $2.5 million, the Arkham token sale on Binance Launchpad will offer users the opportunity to acquire a maximum…

TL;DR Breakdown Digital asset manager Grayscale has filed a letter in its lawsuit against the SEC over the rejection of a spot BTC ETF. Grayscale states that the Volatility Shares ETF exposes investors to an “even riskier investment product” than BTC futures ETFs. Grayscale Bitcoin Trust’s (GBTC) net asset value (NAV) continues to narrow to the lowest level since May 2022. Description In the wake of asset manager BlackRock’s (BLK) application to launch a spot bitcoin ETF in the United States, the discount to the Grayscale Bitcoin Trust’s (GBTC) net asset value (NAV) continues to narrow. Concurrently, Grayscale has filed a letter in its litigation against the United States Securities and Exchange Commission (SEC) regarding the rejection … Read more In the wake of asset manager BlackRock’s (BLK) application to launch a spot bitcoin ETF in the United States, the discount to the Grayscale Bitcoin Trust’s (GBTC) net asset value (NAV) continues to narrow. Concurrently, Grayscale has filed a letter in its litigation against the United States Securities and Exchange Commission (SEC) regarding the rejection of a spot Bitcoin exchange-traded…

TL;DR Breakdown MiCA law entails a controversial measure—the introduction of a daily transaction cap of €200 million for private stablecoins like Tether and Circle’s USD Coin. Legal experts Chander Agnihotri and Rachel Mawer-Cropper from law firm Clyde and Co have expressed concerns that the daily transaction caps could hinder the use of stablecoins and have called for a revision of the framework. Critics have raised concerns about the cautious nature of the legislation and its ability to mitigate threats to the stability of the broader financial market. Description The European Union’s Markets in Crypto-Assets (MiCA) legislation, signed into law on May 31, 2023, has received mixed reactions from the crypto industry. While the legislation is seen as a positive step in providing regulatory guidance for cryptocurrencies, there is controversy surrounding one particular measure—the introduction of a daily transaction cap of €200 million for … Read more The European Union’s Markets in Crypto-Assets (MiCA) legislation, signed into law on May 31, 2023, has received mixed reactions from the crypto industry. While the legislation is seen as a positive step in providing…

TL;DR Breakdown Singapore and Hong Kong lead with 35% of the global crypto workforce. Despite regulatory challenges, India hosts 20% of the crypto industry’s workforce. The US has 29% of the global crypto workforce, while China accounts for 15%. Description As per a recent study by crypto intelligence firm K33 Research, the global cryptocurrency industry is an impressive powerhouse. Valued at a staggering US$180 billion, it supports over 100,000 jobs across over 10,000 enterprises. Notably, these figures would have been even more substantial if the industry’s value was considered at its 2021 peak. However, this … Read more As per a recent study by crypto intelligence firm K33 Research, the global cryptocurrency industry is an impressive powerhouse. Valued at a staggering US$180 billion, it supports over 100,000 jobs across over 10,000 enterprises. Notably, these figures would have been even more substantial if the industry’s value was considered at its 2021 peak. However, this revelation comes at a challenging time for the crypto industry. Major crypto exchanges like Binance face intense scrutiny from financial authorities worldwide, casting a cloud over the…