Category: crypto

Chainlink’s LINK price has surged to a seven-month high due to whale accumulation and institutional partnerships. The derivatives market activity, all-time high open interest in LINK futures, on-chain transactions, and institutional adoption are driving the rally. Chainlink is collaborating with major financial institutions globally, positioning itself as a key player in blockchain connectivity.

Crypto investors holding the top five digital assets by market capitalization for over a month have realized nearly $2.8 billion in profits in the past month. Bitcoin led profit-taking, accounting for over 50% of the activity. Ethereum, Solana, XRP, and Tron also saw significant profit withdrawals. Bitcoin and Ethereum holders saw the largest profit events,…

The UK government has imposed sanctions on entities linked to Russia using cryptocurrencies to evade Western restrictions. Key players include Kyrgyzstan’s Capital Bank and Grinex, a crypto exchange replacing the blacklisted Garantex. The move aims to limit Russia’s financial options amid the Ukraine invasion. The A7A5 stablecoin token, backed by sanctioned Russian lender Promsvyazbank, has…

Pump.fun has regained its position as the top memecoin launchpad on Solana after experiencing a decline to Bonk.fun. The reversal was driven by Pump.fun’s aggressive token buyback plan and rumors of a PUMP airdrop. The platform raised $1 billion from a PUMP pre-sale and has generated $814 million in revenue since January 2024.

Bitcoin and Ethereum ETFs in the US saw nearly $1 billion in outflows on Aug. 19 due to recent price corrections in the crypto market. Bitcoin dropped to $112,000, while Ethereum fell to $4,200. Fidelity, Grayscale, and Bitwise were the most affected. Despite the outflows, assets under management for these ETFs remain at record levels.…

Federal Reserve Vice Chair Michelle Bowman urged banks to embrace blockchain technology to stay relevant in the rapidly changing financial landscape. She emphasized the importance of regulators and banks adopting a proactive approach towards crypto, highlighting tokenization as a key application of blockchain technology that can streamline processes and combat fraud.

Federal Reserve Vice Chair Michelle Bowman acknowledged crypto firms experiencing debanking due to regulatory uncertainty. The Fed has shifted its approach to blockchain innovation, removing reputational risk considerations from bank supervision. Bowman outlined four core principles for digital asset regulation: regulatory certainty, tailored regulation, consumer protection, and American competitiveness. She emphasized the importance of technology…

Brazil’s Chamber of Deputies Economic Development Commission will hold a hearing on Aug. 20 to discuss the establishment of a Bitcoin Strategic Reserve worth up to $18.6 billion. The proposal aims to modernize Brazil’s treasury management and protect international reserves. The legislation requires approval from multiple committees before becoming law.

Illinois Governor JB Pritzker criticized President Trump for allowing crypto insiders to influence federal policy, prioritizing investor protection. He signed two landmark laws regulating digital assets in the state, including oversight by the Department of Financial and Professional Regulation. Coinbase leaders pushed back against Pritzker’s comments, highlighting Democratic support for crypto legislation.

Tether has hired Bo Hines, a former adviser to President Donald Trump, as its Strategic Advisor for Digital Assets and US Strategy. Hines will oversee strategy, liaise with regulators, and engage with industry stakeholders to ensure Tether’s initiatives align with legal and operational standards. Tether is investing in the US market and planning to launch…