Everything web3, crypto, defi, degen
In brief Asian session’s 46% cumulative returns over the past year tower over the U.S. 31% and the EU’s 29%. While the Asian session may temporarily knock back U.S. and EU institutions, it won’t be enough to kickstart the second half of the bull run. Liquidity, leverage, and macroeconomic conditions will determine how long this…
Thai authorities have busted a $15 million criminal enterprise that victimized over 870 South Koreans, in what one expert calls a case study of “multi-layered laundering.”The Seoul Metropolitan Police Economic Crime Investigation Division announced Monday the arrest of 25 members of “Lungo Company,” a fraud ring that deployed multiple scam tactics, including romance schemes, crypto…
In brief The UK’s Financial Conduct Authority has reduced application process times for crypto service providers by 69% since 2022/23. Total applications have declined over the past couple of years, as firms wait and see how UK crypto regulation develops. Successful applications have also declined, although fewer firms are withdrawing applications. The UK’s Financial Conduct…
In brief The crypto market retreated sharply Monday morning, with the total market cap dropping to $3.98 trillion. More than 390,000 traders were liquidated, with longs making up the bulk of the $1.68 billion in losses. Dogecoin dropped by 10%, leading losses among the top 10, while Bitcoin held relatively firm in comparison to altcoins…
In brief Hyperliquid’s HYPE token is down double digits over the weekend and another 7.4% today. Whales selling ahead of HYPE’s token unlock and profit-taking are key reasons for the recent drop, experts suggest. As competition heats up among decentralized exchanges, DEX tokens such as Aster, STBL, and Avantis have surged over the weekend. Hyperliquid’s…
In brief The UAE Ministry of Finance signed the Multilateral Competent Authority Agreement under CARF on Sunday, following its November 2024 announcement. Implementation begins in 2027, with the first international tax information exchanges expected in 2028. An eight-week public consultation launched on September 15 invites all crypto stakeholders to weigh in on potential impacts and…
In brief The FTX Recovery Trust has announced its third distribution to former clients of the bankrupt exchange. A total of $1.6 billion will be repaid to creditors this time. The FTX brand went bankrupt in 2022 after it was criminally mismanaged. Creditors of collapsed crypto exchange FTX will receive $1.6 billion at the end…
In brief Rex-Osprey launched XRP and DOGE ETFs, and the SEC debuted streamlined listing standards for commodity-based trust shares. Forward Industries became Solana’s first $1 billion treasury company, with Helius planning a $500 million SOL treasury raise KindlyMD shares dropped 54% after filing S-3 registration, releasing $200 million in discounted shares that created sell pressure…
We’re excited to announce the next major step in the growth of xStocks — the industry’s gold standard for tokenized equities. In partnership with Backed, Kraken is collaborating with Trust Wallet to integrate xStocks directly into one of the most widely used self-custody crypto wallets, bringing interoperable tokenized equities to over 200 million users across…
In brief Sen. Elizabeth Warren is demanding answers from the DOJ about its enforcement of Binance’s 2023 settlement and the company’s ties to the Trump administration. Warren criticized the DOJ for not addressing previous questions about Binance’s compliance, a possible pardon for founder Changpeng Zhao, and links to Trump-affiliated crypto platforms. Warren raised new concerns…
