TL;DR Breakdown HashKey Exchange is set to introduce crypto trading services for retail clients on August 28. The exchange will begin with trading in Bitcoin and ether, the two largest cryptocurrencies. HashKey is in talks with about five local brokerages in Hong Kong to integrate its crypto trading services on their platforms. Description HashKey Exchange, a leading cryptocurrency platform in Asia, is gearing up to launch crypto trading services for retail clients. This new venture is set to kick off on August 28, as confirmed by Livio Weng, the Chief Operating Officer of HashKey. During a candid interview with The Block, Weng highlighted that the exchange would initially … Read more HashKey Exchange, a leading cryptocurrency platform in Asia, is gearing up to launch crypto trading services for retail clients. This new venture is set to kick off on August 28, as confirmed by Livio Weng, the Chief Operating Officer of HashKey. During a candid interview with The Block, Weng highlighted that the exchange would initially focus on Bitcoin and ether trading. These two cryptocurrencies, the largest in circulation, are…

TL;DR Breakdown US Treasury proposes regulations for crypto exchanges to disclose client transactions from 2026 to curb tax evasion. Proposed rules require reporting from crypto brokers but exempt miners and validators. Public comment period open until October 30, 2023, with a hearing on November 7, 2023, for industry feedback. Description The US Treasury Department, in collaboration with the Internal Revenue Service (IRS), has released proposed regulations that would require US-based cryptocurrency exchanges to disclose detailed information on their clients’ transactions starting in 2026. This move aims to curb crypto-related tax evasion and bring more transparency into customer trades, aligning with the government’s efforts to crack … Read more The US Treasury Department, in collaboration with the Internal Revenue Service (IRS), has released proposed regulations that would require US-based cryptocurrency exchanges to disclose detailed information on their clients’ transactions starting in 2026. This move aims to curb crypto-related tax evasion and bring more transparency into customer trades, aligning with the government’s efforts to crack down on tax cheats. Stricter reporting requirements for Crypto brokers Under the proposed rules, platforms that facilitate…

TL;DR Breakdown Bitfinex partners with Turkey’s Vakıfbank to offer zero-cost deposits in Turkish Lira. Additional incentives include no-fee withdrawals up to 2 million TRY and reduced trading fees. The collaboration is part of Bitfinex’s expansion in Turkey and is available via their web platform and app. Description Bitfinex, a leading crypto trading platform, has announced a partnership with Vakıfbank, Turkey’s second-largest bank, to offer zero-cost deposits for customers in Turkey. This integration allows Turkish customers to deposit Turkish Lira (TRY) directly into their Bitfinex accounts without any fees, marking a significant step in Bitfinex’s expansion in the Turkish market. A strategic partnership … Read more Bitfinex, a leading crypto trading platform, has announced a partnership with Vakıfbank, Turkey’s second-largest bank, to offer zero-cost deposits for customers in Turkey. This integration allows Turkish customers to deposit Turkish Lira (TRY) directly into their Bitfinex accounts without any fees, marking a significant step in Bitfinex’s expansion in the Turkish market. A strategic partnership with Turkey’s second-largest bank According to the blog post, The collaboration with Vakıfbank enables Bitfinex to provide seamless and cost-effective…

TL;DR Breakdown The German economy exhibited stagnation in comparison to the preceding three months in Q2, following a winter recession. Bundesbank President Joachim has refuted claims that Germany is regressing to being the “sick man of Europe,” emphasizing the adaptive capability of the German economy. Description Newly released data has confirmed earlier assessments that Germany effectively exited its recession in the second quarter. The revised statistics affirm that the country’s economy encountered a period of stagnation rather than contraction in the three-month interval concluding in June. Germany’s economic growth has been in stagnation Data released indicate that output remained stagnant during … Read more Newly released data has confirmed earlier assessments that Germany effectively exited its recession in the second quarter. The revised statistics affirm that the country’s economy encountered a period of stagnation rather than contraction in the three-month interval concluding in June. Germany’s economic growth has been in stagnation Data released indicate that output remained stagnant during the three months ending in June, aligning with the initial estimate and median forecast. The reasons behind this stagnation include sluggish…

TL;DR Breakdown FTX has recently made public a concerning incident involving a cybersecurity breach that centered on its claims agent, Kroll, who is connected to the ongoing bankruptcy case. The breach primarily impacted the exposure of non-sensitive customer data from a select group of claimants involved in the ongoing bankruptcy proceedings.  Assurances have been received from Kroll that the breach has been promptly contained and resolved. Description The defunct cryptocurrency exchange, FTX, has recently made public a concerning incident involving a cybersecurity breach that centered on its claims agent, Kroll, who is connected to the ongoing bankruptcy case. This breach led to the exposure of certain non-sensitive customer data from specific claimants. However, FTX has been quick to reassure its user base … Read more The defunct cryptocurrency exchange, FTX, has recently made public a concerning incident involving a cybersecurity breach that centered on its claims agent, Kroll, who is connected to the ongoing bankruptcy case. This breach led to the exposure of certain non-sensitive customer data from specific claimants. However, FTX has been quick to reassure its user base…

TL;DR Breakdown Prime Core Technologies, the parent company of crypto custodian Prime Trust, disclosed an $8 million loss through investments in TerraUSD (USTC). Prime Trust disclosed that it acquired Ethereum (ETH) worth $76.4 million to fulfill customer withdrawal requests following the loss of access to specific funds. Description In a recent bankruptcy filing, Prime Core Technologies, the parent company of crypto custodian Prime Trust, disclosed an $8 million loss through investments in TerraUSD (USTC), shedding light on the financial turmoil that contributed to the company’s bankruptcy. The loss, which occurred when the algorithmic stablecoin TerraUSD collapsed in May 2022, included $6 million in … Read more In a recent bankruptcy filing, Prime Core Technologies, the parent company of crypto custodian Prime Trust, disclosed an $8 million loss through investments in TerraUSD (USTC), shedding light on the financial turmoil that contributed to the company’s bankruptcy. The loss, which occurred when the algorithmic stablecoin TerraUSD collapsed in May 2022, included $6 million in client funds and $2 million in treasury funds. Prime Trust’s investment in collapsed TerraUSD leads to major losses The…

TL;DR Breakdown Starting on August 27, the ClashMon Onchain Summer Event allows players to mint a Game NFT Mystery Box and reveal their own ClashMon Monster, ClashMon gear, and ClashMon Tokens. Iskra believes that onboarding the next generation of on-chain users will be driven by engaging games that demonstrate the actual value of digital ownership.  Description Base opened mainnet for everyone on August 9  with their on-chain Summer campaign, featuring over 50 leading brands to connect users with the best on-chain art, music, and games daily throughout August. Top-ranking game Dapp Iskra will be one of the gaming category’s features, releasing its latest Free to Play game, ClashMon: Ignition. The ClashMon … Read more Base opened mainnet for everyone on August 9  with their on-chain Summer campaign, featuring over 50 leading brands to connect users with the best on-chain art, music, and games daily throughout August. Top-ranking game Dapp Iskra will be one of the gaming category’s features, releasing its latest Free to Play game, ClashMon: Ignition. The ClashMon Collectible Battle RPG offers its first minting opportunity on Base Mainnet…

TL;DR Breakdown Oman announces a massive $1.1 billion investment in bitcoin mining infrastructure, showcasing its commitment to economic diversification. Omani startup Exahertz is leading this digital transformation. They’ve rapidly progressed, launching a pilot bitcoin mining site within 22 days of receiving a license. Exahertz’s facilities are designed to support the electrical grid sustainably, with plans to utilize wasted flared gas and hydro energy. Description In a world where nations are vying for dominance in the digital economy, Oman’s recent announcement of a whopping $1.1 billion investment in bitcoin mining infrastructure has taken many by surprise. This bold move, backed by the government’s support for privately-owned Bitcoin mining facilities, is a testament to the nation’s forward-thinking approach and its commitment … Read more In a world where nations are vying for dominance in the digital economy, Oman’s recent announcement of a whopping $1.1 billion investment in bitcoin mining infrastructure has taken many by surprise. This bold move, backed by the government’s support for privately-owned Bitcoin mining facilities, is a testament to the nation’s forward-thinking approach and its commitment to diversifying its…

TL;DR Breakdown ARK Invest and 21Shares have jointly proposed two Ethereum futures exchange-traded funds (ETFs). The two ETFs are “ARK 21Shares Active Ethereum Futures ETF” (ARKZ), which will invest at least 25% in cash-settled Ethereum futures, and “ARK 21Shares Active Bitcoin Ethereum Strategy ETF” (ARKY), encompassing both Bitcoin and Ethereum futures. The move by ARK Invest and 21Shares highlights Ethereum’s growing influence in the financial world, especially with its DeFi capabilities and Ethereum 2.0 transition. Description The cryptocurrency landscape is evolving rapidly, with institutional interest in Ethereum gaining significant traction. Investment firms ARK Invest and 21Shares are leading the charge and have recently collaborated to propose two Ethereum futures exchange-traded funds (ETFs). This move comes from reports suggesting that the U.S. securities regulator might soon greenlight such applications. Let’s delve deeper … Read more The cryptocurrency landscape is evolving rapidly, with institutional interest in Ethereum gaining significant traction. Investment firms ARK Invest and 21Shares are leading the charge and have recently collaborated to propose two Ethereum futures exchange-traded funds (ETFs). This move comes from reports suggesting that the U.S. securities…

TL;DR Breakdown Argentina-based Num Finance introduces nCOP, a stablecoin pegged to the Colombian peso on the Polygon platform. nCOP is aimed at the remittance market, with Colombia receiving over $6.5 billion annually in remittances. The nCOP offers the “Num yield feature,” allowing users to earn rewards in nCOP. The Colombian central bank is considering a central bank digital currency (CBDC) with potential holding and transaction limits. Description The world of cryptocurrency is witnessing a surge in stablecoins and digital currencies pegged to stable assets, often fiat currencies. Num Finance, based in Argentina, has recently made headlines by launching a new stablecoin tied to the Colombian peso. This development is particularly noteworthy given the increasing role of stablecoins in the remittance market. Contents … Read more The world of cryptocurrency is witnessing a surge in stablecoins and digital currencies pegged to stable assets, often fiat currencies. Num Finance, based in Argentina, has recently made headlines by launching a new stablecoin tied to the Colombian peso. This development is particularly noteworthy given the increasing role of stablecoins in the remittance market. Contents…