Category: crypto

The Trump administration plans to expand the CFTC’s authority to regulate the digital asset market, including Bitcoin and Ethereum. This move aims to create a more innovation-friendly regulatory framework, replacing the current enforcement-heavy approach. However, funding and legislative hurdles need to be overcome for the CFTC to effectively regulate spot crypto markets.

Samuel Kullmann of the Swiss canton of Bern parliament passed legislation to explore Bitcoin mining as a solution for surplus electricity. The Executive Council will prepare a report on how Bitcoin mining can use excess energy and stabilize the electricity grid. Advocates believe it could bring economic and technological benefits.

Euro Coin (EUROC) is a digital currency issued by Circle, following the same full-reserve model as USD Coin (USDC). It is backed by euros held in euro-denominated banking accounts, ensuring stability and redeemability at a 1:1 ratio. With over $54 billion in circulation, Euro Coin aims to provide a trusted euro-based digital currency option.

Hong Kong is proposing tax exemptions for hedge funds, private equity funds, and family offices to solidify its status as a financial and crypto hub. The exemption would apply to gains from cryptocurrencies, private credit, overseas property, and carbon credits. This move aligns with a broader trend of wealthy individuals establishing investment vehicles outside mainland…

A former senior executive at Binance accused the company of retaliatory dismissal after reporting a colleague’s alleged bribery scheme. Amrita Srivastava claimed she was fired for whistleblowing, while Binance stated she was terminated for poor performance. Srivastava’s experience at Binance has negatively impacted her career and reputation.

XT Exchange has suspended all coin withdrawals due to an abnormal transfer of assets totaling about $1 million in 12 different currencies. The incident was first reported by Peckshield, with the attacker allegedly swapping stolen assets for 461.58 ETH. XT assured users their assets were unaffected and plans to enhance security with a new system.…

Stablecoins are transitioning from crypto exchanges to broader global finance applications, used for saving, transacting in USD, and cross-border payments. The market is dominated by USD-pegged stablecoins, but interest in non-USD stablecoins is increasing. The report suggests stablecoins have room for growth with regulatory developments. Standard Chartered sees stablecoins as a key application in digital…

Tokyo-based investment firm Metaplanet plans to raise 9.5 billion yen to strengthen its Bitcoin portfolio, following a financing approach similar to MicroStrategy. The company’s stock surged by 6.5% after the announcement, positioning it as one of Japan’s most prominent publicly traded companies. Metaplanet has added 1,142 BTC to its portfolio since transitioning to a Bitcoin-focused…

Celo’s native token saw a 5% drop after plans to transition to an Ethereum Layer-2 network became contentious. Coinbase announced it would not support the migration, while Tether’s CEO confirmed support. The community had mixed reactions, with some urging Coinbase to reconsider. Kraken expressed support for the transition.

Ethereum’s DeFi sector is booming with a TVL of over $80 billion. Aave and Uniswap have achieved significant milestones during this bullish wave, with Uniswap setting a record for monthly trading volume on layer-2 networks. Uniswap also announced a $15.5 million bug bounty program. Aave has seen a 230% increase in deposits, reaching $33 billion.