The Optimism network has surpassed Arbitrum in transaction volume for the first time in six months, according to July 27 data from blockchain analytics platform Artemis. Both networks are layer 2s of Ethereum that use optimistic rollup technology, which compresses and batches transactions before submitting them to Ethereum, potentially lowering transaction fees. Optimism fell behind
admin
Crypto.com is the latest cryptocurrency firm to receive a green light from the Netherlands Central Bank to offer its services in the country. The platform announced that it had registered as a cryptocurrency service provider with De Nederlandsche Bank (DNB), following a comprehensive review of Crypto.com’s business and compliance with the country’s AML and terror financing
The recent flood of scam tweets on pro-XRP lawyer Jeremy Hogan’s hacked account has finally dried up after nearly four days. Since July 24, the XRP community has been diligently warning others and tagging Twitter’s support after they noticed Hogan’s account tweeting malicious links for a purported XRP (XRP) giveaway. As of 1 am on
Crypto fund manager Grayscale is urging the Securities and Exchange Commission (SEC) to approve all proposed spot Bitcoin (BTC) exchange-traded funds (ETFs) at the same time to avoid one having an advantage. A July 27 post by Grayscale chief legal officer Craig Salm said its legal team submitted a letter regarding eight spot Bitcoin ETF
Venture capital giant Sequoia Capital reportedly downsized its cryptocurrency fund from $585 million to $200 million, amid a liquidity crunch and a pivot away toward smaller crypto players. According to a July 27 Wall Street Journal report, the tech-focused VC firm told investors in March it would reduce its Sequoia Crypto Fund — along with
A new wallet that has launched on Optimism allows users to generate an address without storing seed words, and the account can be saved using an ordinary Twitter login. Called “Beam,” the wallet runs in a browser window and requires no downloads, according to a July 27 announcement from its developer. It also allows users
Paul Munter, chief accountant of the United States Securities Exchange Commission (SEC), has released a statement warning accounting firms of their obligations to the agency when working with crypto firms. Allowing their finding to be misrepresented could have serious consequences, he said. Crypto firms may engage accountants to “perform some sort of review of
The latest legal action against Block.one (B1), the creator and original seller of EOS (EOS), could potentially help plaintiffs get higher compensation, according to EOS Network Foundation (ENF) founder and CEO Yves La Rose. On July 25, La Rose officially announced that ENF is preparing a lawsuit against Block.one for its failure to follow through
Brian Korn, a partner at Manatt, Phelps & Phillips LLP, a Los Angeles-based law firm of more than 450 attorneys, has introduced a thought-provoking argument regarding the legal battle between SEC v. Ripple that could have far-reaching consequences for the broader crypto industry’s secondary market. The ruling, which was rendered on July 13, carried some
Bitcoin (BTC) ate away at the prior day’s gains on July 27 as United States macroeconomic data produced a muted reaction. BTC/USD 1-hour chart. Source: TradingView Analyst warns of BTC price dip Data from Cointelegraph Markets Pro and TradingView showed BTC price strength waning after a brief push to $29,680 into the daily close. The
During a period of hyperinflation in 2013, “my Venezuelan mother asked me to send money to Caracas, the country’s capital,” Hervé Larren recalls. However, bank transfers were not possible between the two countries. Busy with work in New York, he told a friend that he planned to fly to Caracas — carrying cash for his
Tact was pervasive in the United States House of Representatives Agricultural Committee’s consideration of the Financial Innovation and Technology for the 21st Century Act on July 27. With many references to bipartisanship and self-congratulatory mentions of the members’ cooperation and hard work, the committee plowed through a series of amendments calmly and quickly. The bill,
Bitcoin (BTC) is facing the prospect of a “big bull move” as stablecoin buying power returns, on-chain data hints. Analysis courtesy of on-chain analytics platform CryptoQuant now shows stablecoin supply metrics repeating historical bull market patterns. “Major leading indicator” flips bullish for BTC price Bitcoin is in peak accumulation mode, according to CryptoQuant’s Stablecoins Ratio
Crypto degens have been quick to try and capitalize on a widely-watched hearing where former United States government officials have claimed the existence of alien spacecraft and “biologics.” Testifying under oath at the House Oversight Subcommittee on National Security, David Grusch, a former Pentagon task force member on Unidentified Aerial Phenomena (UAP) and whistleblower, accused
Coinbase CEO Brian Armstrong has urged United States citizens to take action and email their representatives to vote “yes” on the Financial Innovation and Technology for the 21 Century Act (FIT21), which may provide regulatory clarity for crypto. On July 26, lawmakers voted in favor of FIT21 and the Blockchain Regulatory Certainty Act. The bills
Crypto lawyer and XRP advocate John Deaton has put forward a viewpoint, underlining that either of the U.S. Securities and Exchange Commission’s (SEC) probable routes of action in its case against payment company Ripple could significantly influence the future of the crypto landscape. Deaton’s assertions shed light on the situation’s complexity and the potential impact
Bitcoin shifted toward $30,000 on July 26 as the Federal Reserve delivered a fresh interest rate hike. BTC/USD 1-hour chart. Source: TradingView Bitcoin tames volatility ahead of Powell press conference Data from Cointelegraph Markets Pro and TradingView showed Bitcoin’s (BTC) price performance strengthening after the Federal Open Market Committee (FOMC) took rates 0.25% higher. While still fairly
In this week’s newsletter, read about how Reddit onboarded millions into Web3 through its nonfungible token (NFT) avatars, and check out McDonald’s first metaverse experience in The Sandbox. Find out why professional gamers are interested in trying out Web3 games, and why Axie Infinity creator Sky Mavis is partnering with NFT collection CyberKongz to develop
A federal judge overseeing the criminal case against Sam Bankman-Fried, also known as “SBF,” will reportedly consider revoking the former FTX CEO’s $250 million bail based on allegations of intimidation against Caroline Ellison. In a July 26 hearing in United States District Court for the Southern District of New York, individuals on site reported Assistant U.S.
Bitcoin broke below the support of its narrow range on July 24, but the bears have not been able to capitalize on it and start a sharp downward move. This is a positive sign, as it shows a lack of aggressive selling at lower levels. The bulls will have to push and sustain the price back