Ravi Menon, the managing director of the Monetary Authority of Singapore, or MAS, said companies often labeled by the media in connection to the recent market volatility as “Singapore-based” were not representative of the country’s approach to crypto regulation. In a speech on the MAS Annual Report on Tuesday, Menon said crypto-related companies including TerraForm
Ethereum continues to trend to the upside and seems poised to break above $1,600, in the short term. This would place the second crypto by market cap on track to push north of $1,700 and reclaims its early 2022 levels. Related Reading | Bitcoin Whale Exchange Inflows Still At Highest Ever Level, Will Recovery To $22k
ApeCoin (APE) rallied to start the week as traders considered Yuga Labs’ decision to open its Otherside metaverse for selected users. In doing so, the token broke out of a technical pattern that hints at another 45% price rally by September 2022. Otherside metaverse euphoria APE’s price surged by almost 23.5% week-to-date to reach $6.12
Aave (AAVE), an open source decentralized finance (DeFi) protocol, is teaming up with decentralized Web3 infrastructure provider Pocket Network to offer developers increased scalability and ease of use when building decentralized applications (DApps) on the Aave Protocol. According to the statement on Tuesday, Aave will use Pocket’s distributed network of more than 44,000 nodes to access
ConsenSys is set to tokenize smart contract and security auditing services through the upcoming auction of eight “timeboxed” TURN tokens. The Ethereum-focused blockchain software company has developed the offering through its smart contract audit service ConsenSys Diligence. TURN, short for Time-Unit Representative NFTs, will create an open marketplace for security auditing services, which are in
“Bitcoin is for billions, not billionaires,” a phrase first coined by investment researcher Lyn Alden, could soon become a reality, according to Fedimint. The protocol that aims to scale Bitcoin (BTC) while making it more private has been buoyed by a $4.2 million seed round for the Fedi application. Cointelegraph spoke to Obi Nwosu, co-founder
The liquidators of failed crypto hedge fund Three Arrows Capital (3AC) have filed an application in the High Court of Singapore for a stay on claims against 3AC and access to the company’s Singapore headquarters. The liquidators said in the 1,157-page document that a court decision is needed in light of the number of legal
A master plan that aims to see the number of Dubai’s blockchain and metaverse companies grow from the current 1,000 to 5,000 in five years, was recently launched by the kingdom’s Crown Prince Sheikh Hamdan. Known as the Dubai Metaverse Strategy, the plan also seeks to create 40,000 jobs and bring in $4 billion to
Despite the recent sluggishness of XRP, the token is performing significantly better compared to other coins. The bulls successfully defended the $0.3 support and tried to reverse the trend by breaching above the crucial resistance. As the price has not fallen following a false breakout, this indicates that the bulls may be stronger than the bears. Thus, the
Reducing your initial debt of $820 million to just $0.013 over a month can’t be easy. And, it’s hardly surprising that such a heroic dash has led Celsius to bankruptcy. Last week, the crypto lending platform voluntarily filed petitions for Chapter 11 reorganization after closing off the last of its decentralized finance (DeFi) debts owed
The Federal Bureau of Investigation (FBI) has issued a public warning about fraudulent cryptocurrency apps, which have swindled U.S. investors out of an estimated $42.7 million so far. According to an advisory published on July 18 by the securities and intelligence agency, cybercriminals have created apps using the same logos and identifying information as legitimate
“When will it end?” is the question that is on the mind of investors who have endured the current crypto winter and witnessed the demise of multiple protocols and investment funds over the past few months. This week, Bitcoin (BTC) once again finds itself testing resistance at its 200-week moving average and the real challenge is whether
Strong technical indicators for the price of ethereum suggest that the bull run might only be beginning. Ethereum Has Bottomed? Ethereum [ETH] has had a recovery over the previous five days from its month-long demand zone in the $1,049 range. As a result of the recent run of green candlesticks, ETH is now under bullish
Bitcoin (BTC) hovered at $22,000 at the July 18 Wall Street open as analysts warned that bulls would not break resistance in one go. Can Bitcoin win back bear market support? Data from Cointelegraph Markets Pro and TradingView showed BTC/USD returning to consolidate after hitting highs of $22,500 on Bitstamp. That level represented the start of
Crypto traders found cause for celebration on July 18 as the total market capitalization climbed back above the $1 trillion mark following weeks of widespread selling after Bitcoin (BTC) price swept yearly lows below $18,000. The green day for cryptocurrencies largely tracks a positive day in the traditional markets, which are up modestly despite analyst
Bitcoin (BTC) rose above $22,000 and Ether (ETH) traded above $1,500 on July 18, indicating that bulls are gradually returning to the cryptocurrency markets. This pushed the total crypto market capitalization above $1 trillion for the first time since June 13, raising hopes that the worst of the bear market may be behind us. In
The Russian government-backed tokenization platform Atomyze has issued its first digital asset backed by palladium in collaboration with the local bank Rosbank. Rosbank officially announced on Monday that it became the first partner of the Russian blockchain firm Atomyze, acting as an investor in Russia’s first digital asset deal with palladium. According to the announcement,
Last month, it was reported that the co-founder of Ripple, Jed McCaleb was close to emptying his xrp wallet that held 81 million tokens worth $26 million. Following a transaction that saw 3,898,451 xrp transferred out of the address, McCaleb’s wallet is now close to being empty as there’s only 47.6912 xrp worth $17 stored
Ethereum has been in recovery mode since developers announced a possible date for the Merge. Since this date is close, it has sparked a lot of positivity among community members who looking forward to the leading smart contracts platform’s move to proof of stake. This recovery has since triggered a liquidation event that has in
The crypto market has returned to the green with Ethereum (ETH) leading the recovery. The second crypto by market cap has seen bullish momentum on the back of a potential full transition to a Proof-of-Stake (PoS) consensus. The date for this event was announced two days ago. Related Reading | TA: Ethereum Outpaces Bitcoin, Why ETH