Category: crypto

Kraken has acquired Coin Meester, a long-established Dutch crypto broker, to strengthen its position in the Netherlands and expand its reach in Europe. This aligns with upcoming EU regulations, emphasizing Kraken’s commitment to compliant services and enhanced client experiences across multiple countries. The move marks a significant step in Kraken’s European growth strategy.

Congresswoman Maxine Waters urged bipartisan efforts to regulate stablecoins by the end of 2024, prioritizing strong federal regulations and consumer protections. Collaborating with Rep. Patrick McHenry, they aim to refine a bill, despite challenges. SEC commissioners criticized the agency’s vague digital asset regulations, advocating for clearer guidelines.

Binance has achieved a historic milestone by processing over $100 trillion in crypto trades since its 2017 launch, as announced by CEO Richard Teng. This figure highlights Binance’s dominance in the crypto market, holding over 50% of trading volume, despite past legal challenges and regulatory scrutiny. The platform aims for a compliance-focused future.

Polymarket’s trading volume increased by 57.5% on September 23, driven by rumors of a new token release following a $50 million funding round. The platform recorded 12,468 daily users, close to its all-time high. Most activity centered on U.S. presidential elections, representing 85.1% of the volume.

Caroline Ellison, ex-CEO of Alameda Research and former girlfriend of Sam Bankman-Fried, was sentenced to two years in prison for her role in FTX’s collapse. Despite her cooperation with authorities and aiding in SBF’s conviction, the court ruled against her request for no prison time amid ongoing legal actions against FTX executives.

SEC Chairman Gary Gensler will testify before Congress, addressing the SEC’s role in overseeing US capital markets and enforcement actions. Although the hearings occur amid tensions with the crypto industry, no direct mention of crypto was made. Regulatory ambiguity over digital assets threatens the industry’s future in the US.

Polymarket is planning to launch a token while seeking $50 million in funding, potentially offering warrants for future token purchases. The token aims to verify real-world events, and there are speculations about airdrops for early users. The platform has experienced significant success, surpassing $1 billion in trading volume.

Lido Finance’s total value locked rose 10.83% to $25.18 billion, driven by Ethereum’s price increase, though 26,528 ETH was unstaked. The seven-day APR for staked Ether (stETH) reached 3.17%. Trading volume increased by 27.49% to $920.29 million, while bridged wstETH fell 2.04%, notably on the BNB Chain.

SocialFi app Phaver launched its Phavercoin (SOCIAL) token, starting the Phairdrop event for its decentralized ecosystem. With a market cap of $146 million, the token incorporates various utilities, enhancing user engagement and rewards. It integrates with Lens and Farcaster, promoting community participation and sustainable growth. Trading commenced on multiple exchanges.

Bybit has launched a Shariah-compliant Islamic crypto account for Muslim users, offering spot trading of 75 compliant tokens and trading bots. This initiative, developed with ZICO Shariah Advisory Services, allows digital asset trading within Islamic guidelines. Additionally, Bybit Türkiye is now officially licensed, enhancing its regulatory compliance and banking partnerships in Turkey.