Author: Kent Tenix

The leader in cryptocurrency asset management withdraws the Ethereum ETF application just two weeks before the SEC regulator can decide on at least one spot Ether ETF application. The prominent player in cryptocurrency asset management, Grayscale, has surprisingly withdrawn its 19b-4 application for a futures Ethereum exchange-traded fund filed on May 7. In September 2023, this company was registered with the Securities and Exchange Commission, and it is now withdrawing its application to the SEC. The withdrawal of the application created panic among investors, as there was no particular reason for it. This step connects with the recent pause by…

The provider of Ethereum layer 2, Polygon‘s ZK, launched Miden Alpha to compete with StarkWare’s tech stack, Starknet. Polygon, a solution provider for Ethereum layer 2, introduced an alpha version testnet of its latest zero-knowledge rollup (ZK-rollup), also known as Miden. This solution depends on cryptographic proofs to identify the changes made in the network. The roll-up is there to check the authenticity of the transactions and add them to the mainnet. A post shared on X by Polygon on May 6 stated that Miden Alpha is now available for the developers to start testing. ZK-rollup designs Miden to increase…

A research company called Sacra says stablecoins will be bigger than Visa for payments this quarter, but Visa’s crypto boss disagrees. According to research firm Sacra, stablecoins will likely surpass Visa as the most popular form of payment this quarter. But Visa’s head of crypto doesn’t think so. Stablecoins are an excellent tool for international money transfers, according to a blog post by Jan-Erik Asplund of Sacra. They might reach $4 trillion and beat Visa in payments. Asplund said: “Stablecoins win on convenience, enabling cross-border payments to be completed any day of the week (rather than business days only), speed…

Bitfinex CTO Paolo Ardoino stated that he didn’t see any requests for money from hackers; therefore, if they were being truthful, they would have made a demand. Paolo Adoino, the CTO at Bitfinex, believes that the hackers collective FSOCIETY’s claim that they hacked Bitfinex and leaked 22,500 customer’s passwords and emails is not true. Since the hackers haven’t demanded a ransom, he thinks its’s fake. In a post shared on May 4, Ardoino explained: “If they had any real information, they would have asked a ramson through our bug bounty, customer support ticket, emails, Twitter, etc. We couldn’t find any…

Arthur Hayes, an executive at BitMax, assumes that after touching its support level, Bitcoin is on its way to recovery. Bitcoin will reach a new high in upcoming months, Hayes explained. A 12% drop in the price was a  “well-needed market cleansing,” said Hayes. In a post on May 3, Hayes mentioned a recent market dump, saying, “The price action played out as I expected.” According to his prediction, after touching the low ground at $58,600, now Bitcoin is making its way to $60,000. He said that till August, the price of Bitcoin will jump between $60,000 to $70,000. He…

Discover the latest in decentralized finance as Aave, a prominent DeFi lending platform, introduces its V4 protocol overhaul. Aave Labs created a plan for its upcoming system version. The ultimate goal is to improve GHO, their stablecoin. The business that developed the Aave DeFi lending technology is named Aave Labs. Throughout the following five years, they intend to update and enhance their system. It serves as a kind of road map for their upcoming projects. The DeFi lending platforms requested suggestions from the community on May 1. They would like to know what people think about the version 4 upgrade…

The CZ binance founder is accused by the SEC of mishandling money from Binance customers. However, Binance says that’s not true. Lawyer Aaron Lane claims that CZ, the creator of Binance, received a sentence of four months in prison for money laundering. The judge took this action to criticize the cryptocurrency sector. Its purpose is to force everyone to abide by the rules. “General deterrence appears to be the main rationale behind the term of imprisonment,” senior legal educator Aaron Lane of Melbourne’s RMIT Blockchain Innovation Hub spoke with Cointelegraph. “The judge has sent a message, not to CZ individually…

Elon Musk’s X announces plans to eliminate likes and reposts from timelines. Discover the implications of this social media shift and how it might impact user engagement and content visibility. The engineer working for X disclosed that this platform will be removing likes and repost features from the timeline in a couple of weeks. This step will decrease the number of posts made just for likes. CryptoX can understand this issue. “I’m not working on this change myself, but employees are still dogfooding it. It should be gradually rolled out to users in the next few weeks, and the UX…

Australia’s premier exchange considers the approval of spot Bitcoin ETFs, potentially paving the way for enhanced investment avenues within the cryptocurrency sector this year. According to Jeff Yew, the CEO of Monochrome, Australia’s spot Bitcoin ETFs can bring $3 billion to $4 billion of cash inflow in the first three years. The Australian Securities Exchange (ASX), the largest exchange in Australia, will start accepting spot Bitcoin ETFs by the end of this year. Some anonymous sources told Bloomberg that, keeping in mind the issue of funds faced by the United States and Hong Kong, VanEck Australia, and local ETF-focused fund…

Upbit, a cryptocurrency platform from South Korea, does most of the trading there—more than 80%! And it’s one of the top five busiest exchanges globally. A report from Bloomberg said that last year, almost one out of every five dollars deposited by big banks came from people using Upbit. South Korea’s Crypto Market: Upbit’s Dominance and Concerns Upbit’s dominance has sparked criticism and concerns, especially as South Korea gears up to introduce new laws aimed at safeguarding investors in the wake of the TerraUSD stablecoin collapse in 2022. The upcoming regulations, slated to take effect in July under the Virtual…