Zabava 🎩🔵🎭

@larkula

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Crypto’s largest exchange, Binance, lost market share during Red September while competitors captured more user trading volume. According to an Oct. 3 CCData report, Binance spot and derivatives trading volumes declined 23% and 21% each as centralized crypto exchange activity generally dwindled last month. CCData researchers said CEX volumes dropped 17% in September, a historically tough month for digital assets. The platform founded by crypto dynamo Changpeng Zhao represented 27% market share in the spot sector and 40% of the derivatives market volume following the decline. Binance last held this spot and derivative market share four years ago, in 2020.

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A recent HarrisX survey commissioned by blockchain giant Consensys indicates that nearly half of U.S. voters view a pro-crypto stance as important, with 12% more likely to consider candidates from the opposing party if they promote favorable crypto policies. In a press release on Oct. 1, Consensys revealed that the survey, which included a geographically representative sample of 1,664 registered voters, highlights that 85% of crypto voters expect presidential candidates to adopt pro-crypto positions. More than 90% of crypto owners intend to vote, emphasizing their influence, particularly in swing states like Michigan, Pennsylvania, and Wisconsin with “strong divisions on crypto regulation preferences.” While 56% of respondents support Donald Trump‘s pro-crypto views, only 54% of voters believe it is crucial for Vice President Kamala Harris to clarify her stance on the issue.

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Crypto exchange Gemini has announced its exit from the Canadian market, joining several other platforms that have left due to the country’s strict regulatory environment. Canadian customers of the Winklevoss-founded exchange reported receiving an email urging them to withdraw their funds by Dec. 31, giving them 90 days to move their assets. According to the Sept. 30 notice, all Canadian accounts will be closed by the given deadline “with limited exceptions.” Users have been asked to withdraw their crypto and fiat balances. The move comes as a surprise, considering that the exchange previously described Canada as an “essential market” for its international expansion. Gemini’s decision to exit Canada mirrors that of other major platforms like Binance, OKX, dYdX, and Bybit, all of which have struggled to navigate the regulatory environment. These exchanges have cited the complexity and cost of compliance with Canadian regulations as primary factors in their decision to leave the market.

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Japan’s Financial Services Agency is set to review its crypto regulations, potentially leading to lower taxes and allowing domestic funds to invest in tokens. Japan is preparing to review its cryptocurrency regulations, which could result in lower taxes and allow domestic funds to invest in tokens, an official at the Financial Services Agency told Bloomberg. The FSA is now reportedly set to assess whether regulating crypto under the Payments Act provides sufficient investor protection, as tokens are used primarily for investment rather than payment. The review could result in reclassifying crypto as financial instruments under Japan’s investment law, which would offer stronger protections, per a person familiar with the matter.

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Moo Deng spikes as FOMO pushes holders to a record high. The rally triggered FOMO, or ‘fear of missing out,’ among traders, as evidenced by the rising number of holders. Coincarp data shows an uptick in the number of holders — over 24,140. That’s much higher than this week’s low of 9,000. Solscan data shows that the holders have hit 27,000. There are signs that whales are accumulating tokens. According to Lookonchain, a whale acquired Moo Deng tokens worth over $1.59 million. The whale now holds Moo Deng tokens worth $3.57 million.

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Giant payment company Worldpay plans to verify blockchain transactions for the very first time in order to better understand how funds move through digital ledgers. According to a Bloomberg report on Sept. 26, the international payment provider is already in talks with several blockchains in hopes of becoming a validator, network participants that monitor and verify transactions in digital ledgers. “The idea is to be part of the ecosystem right at the base,” said Sanchit Mall, Worldpay‘s web3 and crypto lead in the Asia-Pacific region. He explained that Worldpay intends to directly participate in blockchains so that they can better understand the flow of money in digital ledgers. In 2024, Worldpay has processed stablecoin transactions amounting to $1.3 billion in value. The total transaction value increased from less than $1 billion in 2023, but it is still only a small portion compared to the larger sum of $2.3 trillion in transactions that Worldpay facilitates annually.

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Celo recorded a remarkable price spike within an hour after Ethereum’s Vitalik Buterin gave the project a positive endorsement. Notably, in a post this morning, Buterin highlighted how Celo’s work aligns with Ethereum’s mission to improve access to financial services globally. His comment came in response to a previous report from Artemis, which confirmed last week that Celo overtook Tron in stablecoin usage, specifically in daily active addresses. This came after Tether announced plans to launch USDT on Celo six months back. Interestingly, the disclosure from Tether came after a similar announcement from Circle to introduce USDC on Celo in January. Buterin’s latest support led to a spike in Celo’s price this morning, with a 19% surge within an hour pushing the token to a three-month high of $0.6552 before facing rejection. However, the hourly candle still closed with a 13% gain.

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TIA, the native token of the modular blockchain network Celestia, has surged 14% after it announced the commencement of its second funding round. Celestia was trading at $6.2, having surged to an intraday high of $6.86—marking a rise of over 40% from its weekly low. The token’s daily trading volume doubled from the previous day to $410 million. Meanwhile, its market capitalization reached $1.34 billion, securing its position as the 65th largest cryptocurrency, according to CoinGecko. Following the latest price jump, TIA also gained a top trending status on the crypto data aggregator. Despite the recent price rally, TIA still has to climb 69.8% to break past its all-time high of $20.85 seen on February.

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Spot Bitcoin and Ethereum exchange-traded funds in the United States experienced joint net inflows to close the trading week, and both saw even larger inflows earlier in the week. However, ETH ETFs are still experiencing net outflows since launching this summer. According to data from SoSoValue, the 12 spot Bitcoin ETFs saw net inflows of $92 million on Friday, Sept. 20, 42% lower than the $158 million inflows recorded on Sept. 19. Fidelity’s FBTC led the pack with $26.1 million in inflows, dropping from the previous day’s inflow of $49.9 million. ARK 21Shares’s ARKB and Bitwise’s BITB followed with $22 million and $15.1 million inflows, respectively. Additionally, Grayscale Bitcoin Mini Trust, VanEck’s HODL, and Valkyrie’s BRRR drew in $13.4 million, $7.1 million, and $5.2 million, respectively. Invesco’s BTCO also saw modest inflows of $3.1 million after two days of no trading activity. While the remaining five BTC ETFs witnessed no trading activity.

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Sky, a decentralized finance protocol rebranded from MakerDAO, is set to utilize Wormhole’s technology to bring its native tokens to Solana, enhancing its multichain capabilities. Wormhole’s native token transfer framework, or NTT, allows for seamless cross-blockchain transfers of native tokens without altering their intrinsic properties. Other protocols like Lido, Jito, and ether have also adopted NTT for multichain token transfers. According to details in a blog post, Sky will use NTT to bridge its governance token SKY and stablecoin USDS to the network. This move will make these tokens natively multichain, available on Solana and Ethereum via bridges such as Portal. Tokens deployed multichain using NTT go through the framework’s “burn and mint” mode. In this case, there will be no wrapped tokens for the native tokens, but a unified supply across Sky and Solana. Users will be able to participate on multiple chains without suffering the impact of liquidity fragmentation, Wormhole wrote.

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Charles Hoskinson, founder of the Cardano blockchain, has expressed concerns over World Liberty Financial, a new decentralized finance platform backed by former U.S. President Donald Trump and his sons. In an interview with the Financial Times, Hoskinson warned that Trump’s push into crypto could complicate the regulatory landscape for the industry, saying that “everything Trump does the left hates with such a passion.” He also cautioned that this partisanship could provoke investigations from U.S. regulatory bodies, potentially destabilizing the broader crypto market. Despite Trump’s previous dismissal of Bitcoin as a “scam,” he has recently pledged to transform the U.S. into a “Bitcoin superpower.” However, Hoskinson remains skeptical of both Trump and Kamala Harris‘s ability to foster a supportive environment for cryptocurrency as he believes that neither candidate demonstrates the necessary sophistication in understanding crypto issues.

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Spot Bitcoin exchange-traded funds in the U.S. saw a 13-fold surge in net inflows on Sept. 17, while spot Ether ETFs faced outflows for the second consecutive day. According to data from SoSoValue, the 12 spot Bitcoin ETFs logged net inflows of $186.76 million, 1360% higher than the $12.9 million inflows recorded the previous day. Fidelity’s FBTC led the charge with $56.6 million flowing into its fund. Notably, the ETF recorded net inflows for seven consecutive days, with $279.7 million entering it. Bitwise’s BITB and ARK Invest and 21Shares’ ARKB followed with $45.4 million and $42.2 million inflows, respectively. Additionally, VanEck’s HODL, Invesco’s BTCO, and Franklin Templeton’s EZBC drew in $20.5 million, $10.2 million, and $8.7 million, respectively. WisdomTree’s BTCW saw a modest inflow of $3.2 million on the day, marking its first inflows since Aug. 27. The remaining five BTC ETFs, including BlackRock’s IBIT, witnessed no trading activity on the day.

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Hong Kong's FSTB is developing a guideline framework to address ethical concerns and establish principles for integrating AI into the financial sector. Officials are currently drafting the document, incorporating industry feedback. The bureau confirmed to Bloomberg that it plans to release a policy statement this year, outlining the government’s stance and strategy on AI in the financial market. Bloomberg noted that the policy’s specifics remain unclear. However, its main goal is to showcase Hong Kong’s support for AI, aligning with global efforts to harness the technology’s potential. Officials are expected to release their statement by late October, during Fintech Week. The main conference and related forums will take place between Oct. 28-29, 2024.

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Stablecoin issuer Circle has partnered with Sony Block Solutions to make USDC a primary transaction token on the Soneium blockchain. This bridged USDC integration paves the way for Soneium to offer creators and users secure and borderless transactions. As a result, the initiative seeks to foster a global economy based on decentralized technologies, Circle said on Monday. The partnership comes after Sony Group’s blockchain subsidiary recently launch the “Minato” testnet for Soneium. Soneium aims to integrate blockchain into Sony’s entertainment services, potentially revolutionizing content creation, distribution and consumption. This could include managing digital rights, fan engagement via NFTs or tokenized content access.

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The WazirX exploiter has laundered over $64 million via Tornado Cash, as allegations of insider involvement have surfaced. According to PeckShieldAlert, on Sep. 13 the WazirX hacker moved 5,000 ETH, roughly $11.8 million, to a new address before laundering the stolen loot via cryptocurrency mixer Tornado Cash in a bid to obscure the trail. With this latest transaction, the attacker has laundered about 27,600 ETH, valued at approximately $64.97 million, over the past weeks. As the attacker moved the funds, reports surfaced alleging possible insider involvement in the $230 million breach that crippled what was once India’s biggest cryptocurrency exchange.

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India to recover $345m in taxes from Kraken, Huobi, and other offshore exchanges. India’s Financial Intelligence Unit is looking to recoup at least $345 million in goods and services tax from 7 seven foreign cryptocurrency exchanges that operated in the nation. Sources familiar with the matter told the Economic Times that India’s anti-money laundering body is ready to hear the petitions of the exchanges—Bitfinex, MEXC Global, Kraken, Huobi, Gate.io, Bittrex, and Bitstamp—which were barred from offering their services following show-cause notices sent by the regulator. The hearing will be held sometime this week where these companies will present their cases for resuming operations in India by demonstrating their willingness to comply with India’s Prevention of Money Laundering Act as a reporting entity.

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Solana’s blockchain has surpassed previous records for daily network users. According to Artemis.XYZ data, Solana recorded the highest number of daily active addresses in blockchain history, despite the fifth-largest cryptocurrency revisiting its lows from April and January. As of this writing, a single SOL coin was worth around $136. Artemis noted that SOL’s 24-hour users exceeded the five million mark on Sept. 10, while the chain’s closest competitor hovered just above 2.5 million daily active wallets on the same day. Solana’s active address milestone occurred despite decreased activity in its memecoin sector. Specifically, Pump.fun has generated fewer fees since its peak in late July. Last week, data confirmed an 80% decline in revenue generated by the memecoin launchpad. General SOL fees and prices have also slumped since July, highlighting a correlation between SOL revenue and Pump.fun activity.

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Crypto-related scams and fraud surged last year, with losses skyrocketing 45% in 2023 compared to the previous year, according to a new FBI report. As crypto gains popularity in the United States, it also brings a rise in crypto scams. According to an FBI report released Sept. 9, the total losses to these scams exceeded $5.6 billion in 2023. In 2023, the FBI Internet Crime Complaint Center received more than 69,000 complaints from the public regarding financial fraud involving cryptocurrencies, like Bitcoin, Ethereum, or Tether. Investment scams were the most costly, accounting for 71% of the total losses, or about $3.96 billion. Call center fraud and government impersonation scams followed, contributing to 10% of the losses. The most vulnerable demographic appears to be individuals over 60, who reported the highest number of complaints. According to the FBI, their collective losses surpassed $1.6 billion.

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VanEck announced today its decision to close and liquidate its Ethereum Strategy ETF, which is listed on the CBOE. Ethereum ETF fund (ticker symbol ‘EFUT’) will cease trading after the market closes on Sept. 16, according to a VanEck press release, with liquidation expected around Sept. 23. Shareholders who still hold EFUT shares on the liquidation date will receive a cash distribution based on the net asset value of their holdings. The decision follows VanEck’s regular evaluation of factors such as “performance, liquidity, assets under management, and investor interest, among others.” According to the release, these criteria and other operational considerations led to the fund’s closure.

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Japanese financial giants MUFG Bank, Mizuho Financial Group, and SMBC are set to test cross-border stablecoin transfers, leveraging SWIFT’s API. Three of Japan‘s largest financial institutions — Mitsubishi UFJ Financial Group, Mizuho Financial Group, and Sumitomo Mitsui Financial Group — are gearing up to trial cross-border stablecoin transfers via “Project Pax,” a joint initiative between Progmat and Datachain. In a blog announcement on Sept. 5, Datachain stated that the platform for transfers will leverage SWIFT’s API in a bid to change the way the global remittance landscape functions today. The initiative is designed to utilize stablecoins for 24/7 cross-border transactions while minimizing operational costs for banks.

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