TL;DR Breakdown OKX and Bybit have stopped supporting payment cards from sanctioned Russian banks. This follows a similar move by Binance, which previously removed such cards due to Western sanctions. Description In the evolving landscape of international politics and finance, major cryptocurrency exchanges are making headlines with their recent decisions. Cryptocurrency powerhouses OKX and Bybit have taken a bold stance, distancing themselves from Russian banks that have landed on Western sanction lists. These moves are reflective of a growing trend within the crypto industry to act … Read more In the evolving landscape of international politics and finance, major cryptocurrency exchanges are making headlines with their recent decisions. Cryptocurrency powerhouses OKX and Bybit have taken a bold stance, distancing themselves from Russian banks that have landed on Western sanction lists. These moves are reflective of a growing trend within the crypto industry to act more diligently amidst geopolitical tensions. The Crypto Industry’s Response to Sanctions Both OKX and Bybit have now joined the ranks of leading exchanges that are cutting off support for payment cards from certain Russian financial institutions…

TL;DR Breakdown The UAE reached a record $340 billion in non-oil trade during the first six weeks of 2023. This achievement aligns with the UAE’s entry into the expanded BRICS alliance. BRICS announced a six-nation expansion in its 2023 summit, which now includes countries that together control 43% of global oil production. The UAE’s non-oil exports surged by 22% this year. Description The United Arab Emirates, commonly known as the UAE, has been the talk of the global economic circuit lately. Not only has it marked its membership in the BRICS alliance, but it’s also rewriting trade history books. In a remarkable achievement, the UAE touched a staggering $340 billion in its non-oil trade during the initial … Read more The United Arab Emirates, commonly known as the UAE, has been the talk of the global economic circuit lately. Not only has it marked its membership in the BRICS alliance, but it’s also rewriting trade history books. In a remarkable achievement, the UAE touched a staggering $340 billion in its non-oil trade during the initial six weeks of 2023. This…

TL;DR Breakdown Grayscale, a leading crypto asset management firm, is nearing approval for their Bitcoin ETF. Previously, the SEC had rejected Grayscale’s Bitcoin ETF application. The US Court of Appeals has now ruled that the SEC must reconsider their initial rejection. A unanimous decision by three judges sided with the asset manager. Description The pivotal world of cryptocurrency might soon be rattled by a game-changing move. Grayscale, a prominent name in crypto asset management, is making formidable strides toward gaining approval for their long-anticipated spot Bitcoin ETF. If the SEC thought they had firmly slammed the door on this enterprise, they might need to reassess. The recent legal … Read more The pivotal world of cryptocurrency might soon be rattled by a game-changing move. Grayscale, a prominent name in crypto asset management, is making formidable strides toward gaining approval for their long-anticipated spot Bitcoin ETF. If the SEC thought they had firmly slammed the door on this enterprise, they might need to reassess. The recent legal verdict suggests that Grayscale’s venture is not only alive but pulsing with newfound vigor….

TL;DR Breakdown A federal judge in New York dismissed a class-action lawsuit against decentralized exchange Uniswap, ruling that the platform was not liable for fraudulent token sales conducted on it. The judge emphasized that due to Uniswap’s decentralized nature, the identities of fraudulent token issuers were unknown, leaving the plaintiffs with no identifiable defendant to blame for their losses. Description A federal judge in New York has dismissed a class-action lawsuit against Uniswap, ruling that the decentralized exchange was not liable for fraudulent token sales conducted on its platform. The decision has far-reaching implications for the DeFi sector and the application of existing securities laws. The lawsuit had accused Uniswap of being complicit in fraud … Read more A federal judge in New York has dismissed a class-action lawsuit against Uniswap, ruling that the decentralized exchange was not liable for fraudulent token sales conducted on its platform. The decision has far-reaching implications for the DeFi sector and the application of existing securities laws. The lawsuit had accused Uniswap of being complicit in fraud and violating securities laws by facilitating the…

TL;DR Breakdown A recent study reveals 75.5% of Vietnamese crypto investors rely on friends’ referrals for investment decisions, 2.5 times higher than the U.S. Other significant information sources include self-study, media news, and community groups. The “Vietnam Cryptocurrency Market Report” 2023 suggests 70% believe the bear market is nearing its end, while 75% want more crypto regulation. Description Vietnam’s surging cryptocurrency market is undergoing a distinctive evolution. Where many might expect high-tech digital forums or cutting-edge financial analysts to guide investment choices, the reality in Vietnam is simpler: people trust their friends. The Overarching Power of Word of Mouth As the world grapples with the buzz of cryptocurrency, Vietnam has carved a unique … Read more Vietnam’s surging cryptocurrency market is undergoing a distinctive evolution. Where many might expect high-tech digital forums or cutting-edge financial analysts to guide investment choices, the reality in Vietnam is simpler: people trust their friends. The Overarching Power of Word of Mouth As the world grapples with the buzz of cryptocurrency, Vietnam has carved a unique niche for itself. An overwhelming 75.5% of Vietnamese cryptocurrency…

TL;DR Breakdown Grayscale’s win against the SEC has led to speculation about future Bitcoin ETFs. Despite the victory, the market responded with just a 7% rise in Bitcoin’s value. There’s still uncertainty about the SEC’s next move regarding ETF conversions. The crypto industry is demanding clearer regulations for broader adoption. Description Grayscale may have bagged a win against the SEC, but the crypto market isn’t tossing confetti just yet. While some tout this victory as the “next big thing” for the digital currency landscape, the market’s lukewarm response and a mere 7% uptick in Bitcoin’s price post-ruling paint a different story. If Grayscale assumes this ruling … Read more Grayscale may have bagged a win against the SEC, but the crypto market isn’t tossing confetti just yet. While some tout this victory as the “next big thing” for the digital currency landscape, the market’s lukewarm response and a mere 7% uptick in Bitcoin’s price post-ruling paint a different story. If Grayscale assumes this ruling is a one-size-fits-all stamp of approval, they might want to rethink. The road to an ETF…

TL;DR Breakdown Circle announces collaboration with Mercado Libre to introduce USDC in Chile. The integration will allow USDC accessibility to Mercado Pago users. Description In a strategic move towards enhancing the digital payments landscape, fintech powerhouse Circle has unveiled a groundbreaking partnership with e-commerce titan Mercado Libre on August 29th. The objective of this collaboration is to introduce the widely recognized USD Coin (USDC) stablecoin to the Mercado Pago online payment platform, a subsidiary of Mercado Libre. Circle CEO … Read more In a strategic move towards enhancing the digital payments landscape, fintech powerhouse Circle has unveiled a groundbreaking partnership with e-commerce titan Mercado Libre on August 29th. The objective of this collaboration is to introduce the widely recognized USD Coin (USDC) stablecoin to the Mercado Pago online payment platform, a subsidiary of Mercado Libre. Circle CEO enthusiastic about the project Circle CEO Jeremy Allaire took to X (formerly Twitter) to announce the alliance with enthusiasm, referring to Mercado Libre as the “Amazon of LATAM,” emphasizing the e-commerce giant’s reach of over 200 million users. The introduction of USD Coin…

TL;DR Breakdown Nigeria is seeking partnerships with local and international experts for collaboration on AI. NITDA plans to use AI to reshape Nigeria’s technological landscape. Description Nigeria is embarking on a pioneering endeavor that seeks to leverage the expertise of scientists with Nigerian heritage and internationally acclaimed AI specialists in the creation of its National Artificial Intelligence (AI) Strategy. The announcement, made by Bosun Tijani, Minister of Communications, Innovation, and Digital Economy, on social media platform X (formerly Twitter), underscores the … Read more Nigeria is embarking on a pioneering endeavor that seeks to leverage the expertise of scientists with Nigerian heritage and internationally acclaimed AI specialists in the creation of its National Artificial Intelligence (AI) Strategy. The announcement, made by Bosun Tijani, Minister of Communications, Innovation, and Digital Economy, on social media platform X (formerly Twitter), underscores the country’s commitment to harnessing AI for transformative growth. NITDA announces plans for collaborative AI research Central to this initiative is the National Information Technology Development Agency (NITDA), which has initiated the development of the National AI Strategy. This strategic move aims…

TL;DR Breakdown BlockFi has filed a court petition seeking permission to convert its users’ trade-only assets into stablecoins, amidst increasing regulatory scrutiny from the SEC. The court-recognized BlockFi creditors’ committee has supported the motion. Description BlockFi, a prominent cryptocurrency lending platform, recently petitioned a court for permission to convert its users’ trade-only assets into stablecoins. The crypto exchange submitted the request on August 29 to the United States Bankruptcy Court’s District of New Jersey regarding certain assets. However, these assets consist of Dogecoin (DOGE), Bitcoin Cash (BCH), and Algorand’s native … Read more BlockFi, a prominent cryptocurrency lending platform, recently petitioned a court for permission to convert its users’ trade-only assets into stablecoins. The crypto exchange submitted the request on August 29 to the United States Bankruptcy Court’s District of New Jersey regarding certain assets. However, these assets consist of Dogecoin (DOGE), Bitcoin Cash (BCH), and Algorand’s native token (ALGO). Currently, users are unable to withdraw these specific cryptocurrencies, and BlockFi recommends exchanging them for Gemini Dollar (GUSD) or another stablecoin just once. According to BlockFi’s application, the assets used…

Description Contents hide 1 Bitcoin’s exchange supply was boosted significantly just prior to Grayscale’s win 2 DCG claims to have reached an in-principle agreement on its debt 3 ETF approval could open the floodgates and allow the everyday investor to get bitcoin 4 Total global wealth in terms of Bitcoin 5 Bitcoin fear and greed index … Read more Contents hide 1 Bitcoin’s exchange supply was boosted significantly just prior to Grayscale’s win 2 DCG claims to have reached an in-principle agreement on its debt 3 ETF approval could open the floodgates and allow the everyday investor to get bitcoin 4 Total global wealth in terms of Bitcoin 5 Bitcoin fear and greed index is 49 — neutral 6 Art NFTs have been the best-performing ETH NFT sector since 2022 7 Bitcoin ETF conversion of GBTC could draw “massive adoption” 8 Friend.tech loses growth steam 9 GBTC continues to narrow down 10 Traditional Finance players are gradually joining the crypto bandwagon 11 Over 92 million Worldcoin tokens set for unlock 12 OpenAI’s posts 37x growth in revenue 13 Whales &…