TL;DR Breakdown OkCoinJapan is set to list Shiba Inu tokens based on the Polygon protocol, starting September 7, making it easier for both retail and institutional investors to trade the meme coin. The listing follows the successful relaunch of Shibarium, Shiba Inu’s Layer-2 scaling solution, and marks a significant milestone in the meme coin’s efforts to extend its reach in the Web3.0 ecosystem. Description In a significant development for the cryptocurrency world, OkCoinJapan, a leading digital currency trading platform in Asia, has announced its plans to list new tokens, including the Shiba Inu (SHIB) token based on the Polygon protocol. This move comes shortly after the relaunch of Shibarium, a Layer-2 scaling solution that is a significant gateway for … Read more In a significant development for the cryptocurrency world, OkCoinJapan, a leading digital currency trading platform in Asia, has announced its plans to list new tokens, including the Shiba Inu (SHIB) token based on the Polygon protocol. This move comes shortly after the relaunch of Shibarium, a Layer-2 scaling solution that is a significant gateway for the Shiba Inu…

Description Setting the stage for a historical performance in the banking sector, UBS has showcased a profit spectacle rarely witnessed before. The Swiss financial mammoth has proudly marked its territory by reporting an astonishing $29 billion quarterly profit. The monumental gain is tethered to its acquisition of Credit Suisse, demonstrating the high stakes and returns of … Read more Setting the stage for a historical performance in the banking sector, UBS has showcased a profit spectacle rarely witnessed before. The Swiss financial mammoth has proudly marked its territory by reporting an astonishing $29 billion quarterly profit. The monumental gain is tethered to its acquisition of Credit Suisse, demonstrating the high stakes and returns of the banking world. A Divisive Profit Windfall While UBS’s exceptional profit surge has been attributed almost exclusively to the takeover, it isn’t all sunshine and rainbows for the financial behemoth. The massive boost eclipsed the previous record held by JPMorgan, which reported a $14.3 billion profit at 2021’s onset. However, peeling back the takeover layer reveals a more modest $1.1 billion pre-tax profit for UBS. The…

TL;DR Breakdown China’s President Xi Jinping is notably skipping the G20 summit in New Delhi. Instead, Premier Li Qiang will represent China during the September event. Xi’s absence might undermine India’s attempts to spotlight its growing global influence. Description President Xi Jinping of China is taking a pass on the upcoming G20 summit in New Delhi. It’s a resounding decision that not only punctuates the tenuous dynamics among global powerhouses but also signals China’s growing confidence in the international stage. The Implications of China’s No-Show The first time the Chinese leader is absent from … Read more President Xi Jinping of China is taking a pass on the upcoming G20 summit in New Delhi. It’s a resounding decision that not only punctuates the tenuous dynamics among global powerhouses but also signals China’s growing confidence in the international stage. The Implications of China’s No-Show The first time the Chinese leader is absent from a G20 summit, this decision is packed with political undertones. Rather than Xi gracing the event, Premier Li Qiang is set to be China’s representative during the September…

TL;DR Breakdown Brazilian football legend Ronaldinho appeared before a legislative commission to deny allegations of his involvement in a cryptocurrency scam named “18k Ronaldinho,” which promised investors up to 400% returns in less than a year. Ronaldinho clarified that he had signed a contract in 2019 with a watch company called “18K Watches,” and the photos taken for that campaign were used without his permission in the cryptocurrency scheme. He also revealed that he had terminated the contract in the same year. Description Brazilian football legend Ronaldo de Assis Moreira, commonly known as Ronaldinho, appeared before a legislative commission to refute allegations of his involvement in a cryptocurrency scam named “18k Ronaldinho.”  The scheme had promised investors returns of up to 400% in less than a year. Ronaldinho asserted that he had not authorized the use of his … Read more Brazilian football legend Ronaldo de Assis Moreira, commonly known as Ronaldinho, appeared before a legislative commission to refute allegations of his involvement in a cryptocurrency scam named “18k Ronaldinho.”  The scheme had promised investors returns of up to 400%…

TL;DR Breakdown Bitcoin held on crypto exchanges has continued to witness a massive decline. Implications for custodianship and investor confidence. Description In a notable shift within the cryptocurrency landscape, the quantity of Bitcoin (BTC) held in addresses linked to centralized exchanges has reached its lowest point in over five years. This development, while reflecting a growing market sophistication, brings about both positive and negative implications for the crypto industry. Cryptoquant report shows a 4% decline in … Read more In a notable shift within the cryptocurrency landscape, the quantity of Bitcoin (BTC) held in addresses linked to centralized exchanges has reached its lowest point in over five years. This development, while reflecting a growing market sophistication, brings about both positive and negative implications for the crypto industry. Cryptoquant report shows a 4% decline in BTC holdings According to on-chain data analytics service CryptoQuant, the exchange reserve of Bitcoin has witnessed a 4% decline this month, settling at 2 million BTC (equivalent to $54.5 billion). This figure represents the lowest exchange reserve since early January 2018. This trend is indicative of…

TL;DR Breakdown Swift has recorded success in its latest blockchain interoperability test featuring 10 banks. Advancing tokenization through cross-chain communication. Description In a significant leap towards enhancing blockchain interoperability, global interbank messaging service Swift has recently collaborated with over ten financial institutions, including renowned names like Citi, BNP Paribas, and BNY Mellon, to conduct a series of successful tests. These tests aimed to establish seamless connections between various blockchains and traditional financial assets, offering a glimpse … Read more In a significant leap towards enhancing blockchain interoperability, global interbank messaging service Swift has recently collaborated with over ten financial institutions, including renowned names like Citi, BNP Paribas, and BNY Mellon, to conduct a series of successful tests. These tests aimed to establish seamless connections between various blockchains and traditional financial assets, offering a glimpse into the potential of tokenization and cross-chain communication. Swift leveraged CCIP to achieve interoperability Swift’s venture into the realm of blockchain interoperability involves leveraging the Cross-Chain Interoperability Protocol (CCIP), a pioneering communication network akin to Swift’s role in traditional finance. The recent collaboration with Oracle provider…

TL;DR Breakdown Robinhood has moved up to 5th position in terms of its Ethereum holdings. The company reveals plans to expand its wallet offering. Description In the world of cryptocurrencies, financial services company Robinhood has recently come into the spotlight for its substantial holdings of Ethereum (ETH) and Bitcoin (BTC), as well as its endeavors to expand its cryptocurrency wallet offerings. Crypto analytics platform Arkham Intelligence has shed light on Robinhood’s position as a prominent holder of Ethereum. Robinhood holds … Read more In the world of cryptocurrencies, financial services company Robinhood has recently come into the spotlight for its substantial holdings of Ethereum (ETH) and Bitcoin (BTC), as well as its endeavors to expand its cryptocurrency wallet offerings. Crypto analytics platform Arkham Intelligence has shed light on Robinhood’s position as a prominent holder of Ethereum. Robinhood holds $2.5 billion in Ethereum Notably, the company possesses the fifth-largest ETH wallet globally, containing approximately $2.54 billion worth of cryptocurrency. While the recognition of Robinhood’s third-largest Bitcoin wallet drew considerable attention, the revelation of its ETH holdings garnered somewhat less notice. It…

TL;DR Breakdown SWIFT successfully conducted experiments demonstrating its ability to facilitate the transfer of tokenized assets across multiple public and private blockchains, aiming to reduce operational challenges and costs for financial institutions. The experiments involved collaboration with major financial institutions and Chainlink, a Web3 services platform. Various transfer scenarios were tested, addressing concerns related to data privacy, governance, operational risk, and legal compliance. The successful tests build on SWIFT’s earlier work with Central Bank Digital Currencies and are expected to accelerate the adoption of tokenized assets, particularly in the secondary trading of non-listed assets and private markets. Description The Society for Worldwide Interbank Financial Telecommunication (SWIFT), a global financial messaging network, announced results from a series of experiments that demonstrated its capability to facilitate the transfer of tokenized assets across various public and private blockchains.  The experiments aimed to address the fragmentation of tokenized assets, which has been a significant hurdle for investors … Read more The Society for Worldwide Interbank Financial Telecommunication (SWIFT), a global financial messaging network, announced results from a series of experiments that demonstrated its capability…

TL;DR Breakdown In the month of August, a total of $15.8 million in cryptocurrencies fell victim to various hacks and exploits, marking a notable reduction from the previous month’s losses.  The attacks primarily targeted decentralized finance (DeFi) protocols, with no reported incidents affecting centralized financial entities. Prominent among the losses is the Exact protocol hack that transpired on August 18 which saw malicious actors pilfering 4,323.6 Ether, equivalent to around $7.2 million, from users’ deposits using a malicious deposit contract. Description In the month of August, a total of $15.8 million in cryptocurrencies fell victim to various hacks and exploits, marking a notable reduction from the previous month’s losses. According to a report published on August 31 by Immunefi, a prominent blockchain security firm, the combined tally of losses from hacks and fraudulent activities amounted to … Read more In the month of August, a total of $15.8 million in cryptocurrencies fell victim to various hacks and exploits, marking a notable reduction from the previous month’s losses. According to a report published on August 31 by Immunefi, a prominent blockchain…

TL;DR Breakdown Lufthansa, a prominent European airline group, has taken a bold step into the world of blockchain technology by introducing a nonfungible token (NFT) loyalty program on the Polygon Network.  The Uptrip app empowers passengers to convert their conventional boarding passes into valuable NFT trading cards, which can subsequently be used to unlock a spectrum of exciting rewards. Description Lufthansa, a prominent European airline group, has taken a bold step into the world of blockchain technology by introducing a nonfungible token (NFT) loyalty program on the Polygon Network. Through this innovative initiative, Lufthansa aims to transform ordinary travel experiences into a realm of digital rewards and opportunities. The initiative was revealed on August 31st … Read more Lufthansa, a prominent European airline group, has taken a bold step into the world of blockchain technology by introducing a nonfungible token (NFT) loyalty program on the Polygon Network. Through this innovative initiative, Lufthansa aims to transform ordinary travel experiences into a realm of digital rewards and opportunities. The initiative was revealed on August 31st through the unveiling of the Uptrip mobile…