Cryptocurrency News Official TheBitTimes.com

In the latest Ask-Me-Anything (AMA) session, Binance CEO Changpeng Zhao (CZ) disclosed the upcoming announcement of a new partner for an additional USD stablecoin alongside FDUSD.  He also shared insights about a small team working on algorithmic stablecoin s, expressed concerns over the lack of audit reports for USDT, and revealed Binance’s intention to collaborate with numerous stablecoin s to mitigate risk. And we're live! Tune in to our Twitter Space with @cz_binance below https://t.co/KzU2bmdgxG — Binance (@binance) July 31, 2023 Things can change very quickly Although the July 31 AMA covered several topics, the conversation around stablecoins garnered significant attention. CZ highlighted that the industry is seeing many issues with the different stablecoins saying, “I personally have not seen any audit reports from USDT,” making it kind of a “black box.” He also points to issues in regulation in New York, although he pointed to algorithmic stablecoins that have survi

Join Our Telegram channel to stay up to date on breaking news coverage The Dubai- based Binance FZE, a subsidiary of the world’s biggest crypto exchange, has set a new benchmark by being the first to secure an Operational MVP license from Dubai’s VARA. This permits them to provide exchange and broker-dealer services to Dubai’s institutional and eligible retail investors. Binance FZE Receives Operational MVP License The Operational MVP License allows Binance to use a modern regulatory framework that encourages innovation and puts user protection first. Binance has been granted an Operational MVP license, following its provisional MVP license received in March 2022 and a preparatory one in September 2022. This new license enables Binance to offer virtual asset exchange and broker-dealer services to Dubai’s institutional and qualified retail investors. Richard Teng, Head of Regional Markets at Binance, attributes this milestone to a year’s worth of dedicated collaboration and

Patrick Hansen, a Circle executive, is concerned that entities involved in Maximal Extractable Value (MEV) activities on Ethereum and other smart contract platforms might be banned from operating in the European Union (EU) once the Markets in Cryptoassets (MiCA) regulation comes into effect MiCA, adopted by the European Parliament on April 20, 2023, marks a significant milestone as the first clear legislation governing the issuance and provision of services related to crypto-assets and stablecoins. Its enforcement is scheduled between mid-2024 and early 2025. You might also like: MiCA explained: What does the EU’s first crypto regulation mean for the industry? Although progressive, MiCA’s Article 92, which aims to prevent and prohibit market abuse involving crypto-assets, is particularly interesting. Specifically, lawyers and industry stakeholders have drawn attention to this provision, as it holds potential implications for MEV participants operating within the EU. Fla

Crypto analyst reveals that tokens listed on Binance in the last 6 months have recorded massive declines. $PEPE, $FLOKI, and $SUI form part of the highest losers, with each token dropping at least 50%. $WLD, $PENDLE and $ARKM also recorded substantial losses. Tokens recently listed on crypto exchange giant Binance in the past 6 months have recorded losses within the last 6 months. Tweeting about the losses, crypto analyst DefiIgnas listed Worldcoin, Pendle, and Arkham, among other listed tokens that had seen massive declines in their token prices.  Per the report, $PEPE is the biggest loser, with over 60% lost in the last 6 months. The significant decline is, however, surprising, considering that Pepe Coin rallied in late June and early July, with the token adding massive gains. However, since that short-lived bull run, the coin has struggled to hit a sustained run of positive performances. Data from CoinMarketCap show that the token had lost 5.48% and seen its

Trader Peter Brandt challenges common beliefs on Bitcoin (BTC) halving and the prospect of a US Bitcoin ETF. Noted trader and analyst Peter Brandt has challenged the hype over two pivotal Bitcoin events: the forthcoming halving and the potential approval of a US Bitcoin exchange-traded fund (ETF). Three things I believe about Bitcoin 1. The inevitable OK of a $BTC ETF in U.S. will be non-event 2. BTC halving will be a non-event Markets discount in advance 3. BTC's correlation to other mkts is a non-starter. BTC will be top of food chain. That's the only thing that matters pic.twitter.com/2l0CxAyZ4T — Peter Brandt (@PeterLBrandt) July 27, 2023 The Bitcoin halving , a protocol tweak happening roughly every four years, halves the reward for mining new blocks. The next one is slated for 2024. Many Bitcoin fans see this as a significant price booster, likening it to supply-demand economics. They say that a decrease in new Bitcoin production could spur a supply shock and push

Join Our Telegram channel to stay up to date on breaking news coverage The U.S. crypto industry gained hope for a clearer regulatory environment as the House Financial Services Committee approved two bills addressing major issues in the sector. The Financial Innovation and Technology for the 21st Century Act and the Blockchain Regulatory Certainty Act received majority support in the US Congress vote. Lawmakers Vote in Favor of Regulatory Bills The initial bill, addressing the registration of cryptocurrencies as securities or commodities, was approved by 35 out of 50 House Financial Services Committee members. #PASSED: In a historic first, the House Financial Services Committee just advanced the BIPARTISAN FIT for the 21st Century Act to protect consumers and provide clear rules of the road for the digital asset ecosystem. Up next: @HouseAgGOP considers the legislation tomorrow. pic.twitter.com/kOyLmolPuz — Financial Services GOP (@FinancialCmte) July 26, 2023 The Repub

BlackRock And Jio Plans On Joint Venture Jio Financial Services and BlackRock, who together had $9.4 trillion in assets under management at the end of June, are to each invest up to $150 million in the 50-50 venture. Jio BlackRock will be the name of the joint enterprise. advertisement The announcement comes days after Jio Financial Services was separated from Reliance Industries; the company, which has yet to establish a presence in India ’s rapidly expanding financial services market, has been valued by the markets at close to $20 billion. “The partnership will leverage BlackRock’s deep expertise in investment and risk management along with the technology capability and deep market expertise of JFS to drive digital delivery of products,” said Hitesh Sethia, CEO of JFS in the statement. Also Read: US Prosecutors Drop Charges on SBF For Illegal Campaign Contribution Recommended Articles

South Korea launches Joint Investigation Centre for Crypto Crimes. The unit team targets high-volatility crypto, illegal trading practices, and tax evasion. The damages from crypto crimes surged 118% in South Korea over the last five years. South Korea has taken a decisive step to combat the escalating wave of crypto crimes by launching an interagency investigation unit called the Joint Investigation Centre for Crypto Crimes. According to the country’s Prosecutor’s Office, a dedicated team of approximately 30 experts from judicial, financial, tax, and customs agencies will staff this pioneering unit. The Prosecutors’ Office lamented that cryptocurrencies have become comparable to stocks as investment products. However, market participants have been deprived of legal protection due to incomplete laws and systems. The statement read: Virtual assets are investment products that already compare to stocks, but market participants are practically left out from

With a 9% rally catapulting the meme coin, Santiment has reported that Dogecoin (DOGE) has seen its trading volume reach its 16-week high. Moreover, the on-chain data shows the influx that has seemingly followed the recent surge the asset experienced yesterday. The coinciding interest and value increase have been an overall positive development for DOGE. Traders had seemingly exhibited an excited response to its price surge, resulting in the asset reaching its highest reading volumes since the first week of April.  📈 Traders have hopped on to # Dogecoin following the sudden price jump the #memecoin enjoyed earlier today. We have also seen #Litecoin interest rise to week highs with the August 2nd #halving rapidly approaching, and #Ethereum should be watched as well. https://t.co/Ur5DHD2j9O pic.twitter.com/bmn4NCY2e6 — Santiment (@santimentfeed) July 25, 2023 Also Read: Dogecoin Triggers $10 Million in Liquidation for Short Traders DOGE Trading Volume Jumps Following Re

Bitcoin’s (BTC) recent price behavior, according to a trader who excellently rode the cryptocurrency breakthrough earlier this year, is eerily similar to its terrible downturn from the previous year. Crypto analyst DonAlt informs his 52,600 YouTube subscribers in a new strategy session that it appears as though Bitcoin bears are in complete control. The crypto analyst argues that sellers are taking advantage of rallies fueled by positive news reports to sell BTC. “There’s just weakness. Every time we have a bullish move… you get a big outsized candle that just completely erases that, and it’s been the story ever since we’ve entered this range. You get a good event, and then you get a bigger candle that completely negates it.”  DonAlt also claims that he is contrasting the trajectory of Bitcoin with that of the stock market. Every time the stock market rises, the trader notes that Bitcoin’s poor performance makes him think about the cryptocurrency bear market fr

Ethereum founder Vitalik Buterin recently shared his thoughts on Worldcoin’s biometric proof of identity. Buterin stated that biometric systems were privacy-friendly but posed centralization risks. Meanwhile, Worldcoin gained more than 60% following its launch earlier today. Vitalik Buterin, the crypto entrepreneur behind Ethereum, recently shared his take on the biometric proof of identity offered by Worldcoin. Worldcoin was launched earlier today by Sam Altman, the chief executive officer of OpenAI, the company behind artificial intelligence-powered chatbot ChatGPT. Vitalik Buterin took to Twitter earlier today to share a lengthy paper penned by him, which covered the pros and cons of the biometric proof of identity, which is also known as the proof of personhood. The need for such a biometric system arose when developers felt the need to determine that an account is controlled by a real person rather than a bot. According to the Ethereum co-founder, biometri

In a Twitter post, FatManTerra raised concerns about the security of telegram bot services. The anonymous critic called out crypto influencers for promoting what he termed a risky and sketchy model. Unibot, one of the fast-rising bot services, has, in a few months, reached a $142 million market capitalization.  Analyst FatManTerra has raised concerns about crypto Telegram trading bots. In a Twitter post, FatMan said the bot allowing users to view their private key via Telegram message is a “security nightmare waiting to happen.” You guys are seriously depositing money into a Telegram bot that lets you view "your" private keys (their private keys) via Telegram message? Sounds like a security nightmare waiting to happen. Not your keys, not your crypto – custody only what you are happy to lose. — FatMan (@FatManTerra) July 24, 2023 The crypto sleuth also called out crypto influencers for shilling the bot services, knowing it could potentially lea

Join Our Telegram channel to stay up to date on breaking news coverage Robinhood is pretty much on a roll, flushed with a reported $200 million in extra funding. The investment app has as much firepower as it needs to dominate the finance sector, particularly in crypto, where it hopes to make a dent. The company also has the potential to overtake industry stalwarts like Coinbase, one of the largest cryptocurrency exchanges in the U.S. Crypto trading app Robinhood is poised to raise $200M in the next funding round with a $7-8B valuation. Most funds will be pouring in from current investors. Bloomberg reports the valuation could reach $10B for the venture rounds to follow. pic.twitter.com/VeoDASNGrY — EXANTE (@EXANTE_EU) May 27, 2019 The growth of Robinhood provides a lot of issues for the two companies, particularly because their market audience overlaps.  Square’s widening net loss In its defense, Square has been on a bit of an uptrend lately. After the company issued som

McDonald’s Hong Kong leaps into the digital realm, joining brands like Adidas, Coca-Cola, and Gucci in its metaverse launch. The McNuggets Land metaverse , developed on the online gaming platform The Sandbox, commemorates the 40th anniversary of the Chicken McNugget, which first went on worldwide sale in 1983. McDonald's Hong Kong is launching the first metaverse experience: McNuggets Land in The Sandbox to celebrate the Chicken McNuggets' 40th Anniversary with a series of exclusive rewards! Get ready to party with your favorite Chicken McNuggets in the metaverse today… pic.twitter.com/5kO3IPCOAq — The Sandbox (@TheSandboxGame) July 20, 2023 Players visiting McNuggets Land can experience engaging mini-games and activities, all centered around the iconic McNuggets. Completing quests and challenges will enable players to earn rewards in the form of SAND tokens, the native cryptocurrency of The Sandbox ecosystem, along with additional in-game accessories. McNuggets Land

Chainlink (LINK) seems to be defying the larger crypto market movement. While other major assets have entered a period of consolidation, LINK has rallied by 17.2% in the last 24 hours. Moreover, the token has surged by 13.4% over the previous week. Moreover, according to CoinMarketCap data, the daily trade volume for Chainlink (LINK) has surged by 547.31%, reaching $1.54 billion. Source: CoinGecko Crypto analysis firm Santiment also took notice of LINK’s recent surge. According to the analytics, LINK’s price has reached a three-month high. Additionally, Santiment also believed that FOMO (Fear Of Missing Out) is the only thing stopping the token from reaching $10. 📈🔗 #Chain LINK is the #3 trending topic in #crypto after an impressive +20% day, returning to its highest price ($8.34) in 3 months. Thursday had $347.72M in $ LINK on-chain volume, the largest of 2023. #FOMO could be the only obstacle holding it from $10. https://t.co/kNTvo6Pibg pic.twitter.com/f57RtOH3I5 — S