South Korea’s financial watchdog is urging fund managers to scale back on how much crypto-related stock they pack into exchange-traded funds (ETFs). The Financial Supervisory Service (FSS) has reportedly issued verbal guidance advising firms not to go overboard with investments in companies like Coinbase and Strategy (formerly MicroStrategy). The FSS pointed out that the 2017…
Most altcoins have headed south over the past several hours, and the second-largest is no exception. XRP, which was among the top performers until yesterday evening, has plunged by double-digits to a new weekly low. As such, it has caused substantial losses to over-leveraged traders, even more than BTC. XRPUSD. Source: TradingView What goes up,…
The US Justice Department has dropped its criminal investigation into Kraken co-founder Jesse Powell. The investigation was launched in 2023 and did not focus on Powell’s crypto dealings. Instead, it centered on allegations from the Verge Center for the Arts – a nonprofit he founded – that he had hacked its accounts and blocked email…
The manufacturing firm has turned to the asset, adopting the treasury model, citing steep financial losses. It has joined the rising list of Japanese companies adopting this strategy, contributing to the billions of dollars already invested in bitcoin within the country. Changing Strategies Kitabo Co., Ltd, a company that engages in the production and sale…
The U.S. Securities and Exchange Commission (SEC) has approved the conversion of Bitwise’s cryptocurrency index fund. However, the agency later issued a stay order halting the launch pending further internal review. Regulator Issues Second Reversal This Month A July 22 filing shows that the SEC had granted an “accelerated approval” for Bitwise’s proposal to convert…
The Tron network, one of the leading blockchains in the market, appears to have regained steam following the renewed bullish sentiment across the crypto sector. Recent data show that the network, especially its fees, has risen sharply to new levels that exceed even those of other chains such as Ethereum. Ethereum Network Fees Slip Behind…
TL;DR After months of consolidation, Flare is finally breaking out, reclaiming $0.024 support and targeting $0.037 resistance. Over $776M in FLR are now staked, shrinking supply and boosting long-term holder confidence across the network. TrustSwap and Team Finance integrations bring new tools for developers building on Flare’s ecosystem. Clear Breakout After Months of Consolidation Flare…
TL;DR Ripple’s CEO joined the official X channel of the company to warn its community about a growing number of scammers impersonating the team with offers that are too good to be true. XRP’s price has been booming lately, which could be the reason behind the surging number of frauds. Like clockwork, with success and…
The battle for stablecoin dominance has intensified amidst the broader market rally. New data suggests that the distribution of Tether (USDT) supply between Tron and Ethereum networks appears to alongside Bitcoin’s price cycles. USDT Rivalry In its latest post, CryptoQuant revealed that Tron’s USDT supply was just a fraction of Ethereum’s, with a ratio of…
TL;DR The inclusion of new digital assets on Coinbase’s roadmap resulted in a significant price surge for the affected tokens. Numerous other cryptocurrencies have benefited from the exchange’s support over the past several months, while some have been negatively impacted due to delisting efforts. The Coinbase Effect The US-based cryptocurrency exchange added BankrCoin (BNKR), Jito…