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21/08/2023

Cheems Balltze, the dog behind viral images of a Shiba Inu enjoying cheeseburgers, died in his sleep on Aug. 18 amid a battle with cancer.

The dog, also called “Ball Ball,” was 12 years old at the time of his death. The Shiba Inu breed, in particular, is famous among cryptocurrency users as the basis of cryptocurrencies like Shiba Inu and Dogecoin, pushed by retail investors as well as high-profile figures like X (formerly Twitter) owner Elon Musk.

“Don’t be sad, please remember the joy that Balltze brought to the world,” said an Aug. 18 post on Cheems’ Instagram page. “A Shiba Inu with a round smiling face connecting you and me, he has helped many people during the pandemic and brought a lot of joy to many of you, but now his mission has completed.”

A different dog from Kabosu — the one featured in the meme on which Dogecoin was based — Cheems also appeared in shared images with the DOGE dog, such as in the meme “Swole Doge vs. Cheems.” Kabosu is expected to celebrate his 18th birthday in October but has also been experiencing significant health issues. The Doge meme went viral in 2013, prompting the creation of the DOGE token the same year by Billy Markus and Jackson Palmer.

Crypto users, including those involved in the Dogecoin Foundation, offered their condolences at the loss of Cheems and support for Kabosu’s continued health.

Memes of animals, from cats to dolphins, have often been the basis of token projects in the crypto space since its creation. In some real-world use cases, animals shelters have accepted DOGE and other coins as a way to encourage interest in spaying and neutering cats and dogs.










20/08/2023

The United States Securities and Exchange Commission (SEC) is likely to approve multiple applications for Ether futures exchange-traded funds (ETFs) at the same time, The Wall Street Journal reported, citing sources familiar with the matter.

Since July, the regulator has been flooded with applications from several investment firms, including requests combining futures Bitcoin and Ether strategies. So far, the SEC has not instructed the firms to withdraw their applications, unlike in 2021, when firms were instructed to withdraw similar applications. This suggests that the regulator won’t block the fund’s launch within a few weeks, according to WSJ sources.

At least 16 applications for Ether or Bitcoin-Ether futures ETFs are awaiting regulatory approval. Ether is the native coin of the Ethereum blockchain, used for peer-to-peer transactions within the decentralized network. A crypto futures ETF tracks the performance of crypto futures contracts. For example, instead of investing directly in Bitcoin or Ethereum, a crypto futures ETF invests in futures contracts that are tied to the price of these digital assets.

With the prospect of crypto futures approval looming, the SEC keeps receiving requests. Earlier this week, asset management firm Valkyrie filed for an Ether futures ETF and a previous application combining a Bitcoin-Ether futures strategy. Valkyrie is the first in line in this race and could see its BTC-ETH ETF debuting in early October.

In the ETF industry, first-mover advantage is important. According to the WSJ, citing data from Morningstar, the first futures Bitcoin ETF approved from ProShares has gathered $1 billion in assets under management since its inception in October 2021, while Valkyrie’s similar product, launched a few days later, amassed nearly $28 million in assets under management.










20/08/2023

On Aug. 15, the Ethereum Foundation listed projects and community events that received funding in Q2.

Furthermore, the Foundation spent a total of $9.2 million supporting projects, conferences, and industry research.

The largest number of recipients were community and education projects which included more than ten summits and conferences.

Ethereum Foundation Promoting Education
Conferences and hackathons across the world, including ETH Barcelona, ETH Belgrade, ETH Prague, Ethereum Singapore, and ETH Rome, were funded.

Consensus Layer research on data availability sampling, distributed systems, and staking infrastructure tools received grants. There was also continued development of Nimbus and Lighthouse Ethereum clients.

Cryptography and zero-knowledge proofs were a big category for funding. Toolings like Chiquito and Hypernova to build zk circuits more easily and privacy-preserving protocols like Lambdadelta, Isokratia, and zkEmail were included.

Furthermore, continued work on foundational protocols like halo2, Semaphore, and others was mentioned.

There was also funding for developer experience and tooling, such as Recovery Pulse for smart contract recovery.

Ex*****on Layer projects such as Fluffy light client were supported, as were Nethermind internships.

Finally, there was funding for the Nimbus ex*****on layer development and layer-2 Beacon Chain blockchain explorer.

The Ethereum Foundation ecosystem support program (ESP) continues to back the growing environment on crypto’s largest smart contract network despite the ongoing bear market.










19/08/2023

Crypto influencer Evan Luthra has brought a lawsuit against crypto exchange Bitget for freezing his account after a new token listing in March. According to Luthra, the exchange suspended his withdrawals and froze $200,000 in Tether while attempts to seek clarification went unanswered.

Luthra’s involvement with the Reel Star project serves as a backdrop to these events. The influencer was hired as an adviser to Reel Star, a startup developing a social media app for creators. As compensation, Luthra was offered Reel Token (REELT), the project’s utility token. Upon its listing, the influencer sold 1.3 million REELT tokens on Bitget. Luthra’s account was then frozen under suspicion of market manipulation. Regarding the decision, a spokesperson from Bitget told Cointelegraph:

“Bitget faced a manipulative attack by a group of traders attempting to profit by manipulating trades on the exchange. Their target was a new coin called REELT, which they tried to dump immediately after its listing on Bitget, causing a large drop in the coin’s price.“
Additionally, Bitget claims to have contacted the crypto influencer for an explanation: “In response, he admitted to selling the tokens. However, when we asked for the reasons behind this abnormal behavior, we did not receive active feedback or satisfactory response.“

Luthra claims innocence, citing Reel Star co-founder Navdeep Sharma’s alleged approval of his token sale plans. The influencer now seeks a substantial $16 million in damages, along with the $200,000 held in his account. His lawsuit encompasses Bitget, Foresight Ventures and key executives.

“Bitget prevented me, a fully KYCed user of their platform, from withdrawing my tokens,” Luthra stated:

“After I sold this portion of my allocated tokens, my funds —including the crypto [...] I already had on the exchange before REELT — were blocked, and the company stole what my tokens were worth for themselves.“




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17/08/2023

Global payment processing giant PayPal announced its United States dollar-pegged payment stablecoin called PayPal USD (PYUSD) on Aug. 7.

The stablecoin is developed on Ethereum and will be issued by Paxos Trust Co. PYUSD is reportedly fully backed by U.S. dollar deposits, short-term Treasurys and similar cash equivalents.

PayPal said that the launch showcases the company’s focus on becoming a crypto payment giant and aims to make the stablecoin a key part of its payment infrastructure. PYUSD is currently being rolled out for selected customers in the United States.

The payment technology firm first confirmed its plan to launch a stablecoin in January 2022, nearly two years after it had made way for users in the U.S. and the United Kingdom to buy, sell and store cryptocurrencies in their PayPal accounts.

PYUSD will be primarily used for remittances as well as a mode of payment for millions of PayPal merchants. The firm noted that the new stablecoin will be made available on Venmo in the near future, where users will be able to transfer it between the two platforms. The stablecoin will also be transferable with wallets that support PYUSD, such as Coinbase Wallet and MetaMask.

Another stablecoin enters the market
The crypto stablecoin market cap is $125 billion at the moment, primarily dominated by two players — Tether with a $86.5-billion market capitalization followed by Circle-issued USD Coin with a $26-billion market cap. The rest of the market share is taken up by the likes of Binance-supported stablecoins such as Binance USD, TruUSD and a few others. While there are several stablecoins players in the market, PayPal’s stablecoin will be the first issued by a major payment processor.

The launch of PYUSD was welcomed by most of the current stablecoin market leaders, including Tether chief technology officer Paolo Ardoino, who told Cointelegraph that the new PayPal stablecoin will lead to healthy competition and offer users a wider choice.








17/08/2023

Former President Donald Trump is starting to look like something of a crypto whale, with both holdings of ether and earnings from his branded NFTs growing by the minute.

The entrepreneur-turned-politician owns up to $5 million worth of ether in a wallet, according to certified 2023 financial disclosures posted online by Citizens for Responsibility and Ethics in Washington yesterday. An entry that details the potential size of the holding specifically lists income of $2.8 million.

The disclosure also shows Trump earned $4.9 million from an NFT licensing deal with NFT INT LLC, the company behind two separate NFT drops that have netted millions of dollars in sales and royalties.

New numbers show surge in activity
News reports last week first showed Trump had up to $500,000 worth of ether, citing a disclosure from April. The newer disclosures on Citizens for Responsibility and Ethics in Washington’s website are dated from this month.

Citizens for Responsibility and Ethics in Washington, or CREW, did not immediately respond to a request for comment when asked about the most recent August disclosure.

Trump’s NFTs sold for $99, with the first drop at the end of last year and the second in April. The first series has generated more than $26 million in trading volume, according to OpenSea data.

Royalties mirror Trump's holdings
In royalties collected from secondary sales, Trump's two series of NFTs have generated $2.6 million, according to The Block Research analyst Brad Kay. The four digital wallets which receive those revenues currently hold about $3 million worth of ether, he said.

Although Trump's holding in the filing of $2.8 million is very close to the amount held in the four wallets associated with the NFT collections, NFT INT LLC states on its website for the digital trading cards that it is a separate entity.










16/08/2023

Europe will welcome a first-ever spot Bitcoin ETF after the long-awaited launch of Jacobi Asset Management’s Jacobi FT Wilshire Bitcoin ETF.

The London-based digital asset management firm announced that its new investment product was going live on the Euronext Amsterdam stock exchange on Aug. 15, more than a year later than its planned launch in 2022.

As previously reported by Cointelegraph, the offering was touted as the first spot or physical-backed Bitcoin fund that would allow investors to gain exposure to a financial product that is physically backed by BTC.

The new exchange-traded fund (ETF) is set to trade under the BCOIN ticker, while the product was approved by the Guernsey Financial Services Commission back in October 2021. As reported by Blockworks, Fidelity Digital Assets will handle the custodial elements of the BCOIN ETF.

The asset management firm also highlighted the environment and socially friendly nature of the fund, having added a renewable energy certificate (REC) to the ETF.

The fund taps into external data to measure the energy usage of the Bitcoin network and buys and retires the RECs. The RECs are also accounted for on a blockchain service, which is aimed to allow investors to verify the eco-friendly claims of the fund.

BCOIN makes use of the FT Wilshire Bitcoin Blended Price Index to access real-time average Bitcoin price data from certain cryptocurrency exchanges. The spot ETF allows investors to gain exposure to the Bitcoin market without having direct ownership or custody of the underlying asset.

The launch of the spot Bitcoin ETF marks a milestone for Europe, while United States regulators are yet to approve a number of similar spot Bitcoin ETF applications from major asset managers, including BlackRock and Fidelity.










14/08/2023

The Securities and Exchange Commission’s (SEC) delay in deciding whether to approve a spot Bitcoin exchange-traded fund (ETF) in the United States is fueling expectations that a final verdict will come in a batch that includes key players on Wall Street, including BlackRock and Fidelity.

“There’s a tremendous amount of pressure on the SEC to approve a number of these ETFs, particularly because the approved Futures backed products are lagging spot performance substantially, harming investors,” markets veteran and co-founder of CoinRoutes Dave Weisberger told Cointelegraph, adding that all pending applications will likely be included in a final decision.

The SEC is analyzing a total of eight applications for a spot Bitcoin ETF, following past delays and denials of the crypto product in recent years. Companies up for a decision are ARK Invest and 21Shares, Bitwise, BlackRock, VanEck, WisdomTree, Invesco and Galaxy Digital, Fidelity, and Valkyrie. Together, the firms manage over $15 trillion in global assets.

On Aug. 11, the U.S. markets regulator opened a 21-day comment period for the ARK 21Shares Bitcoin ETF. As per the filing, the SEC is seeking answers on whether ARK 21Shares’ proposal is designed to prevent fraudulent and manipulative acts and practices, as well as whether the Bitcoin market is susceptible to manipulation.

Furthermore, the regulator raised concerns about Coinbase’s surveillance-sharing agreement, asking commenters to examine whether Coinbase’s participation in the ETF's surveillance would, in fact, help to detect, investigate and deter fraud and manipulation in Bitcoin’s price.

"The SEC's primary concern is potential market manipulation by big whales in spot crypto ETFs. If the SEC registers all 8 ETFs, it will significantly reduce the probability of manipulation, as firms can trade frequently and take opposite sides," according to YouHodler's chief of markets, Ruslan Lienkha.








10/08/2023

A recent filing from the United States Securities and Exchange Commission (SEC) in its lawsuit against crypto miner Green United could shed light on how it may approach the case against Coinbase.

On July 31, the SEC scored a win after Judge Jed Rakoff denied Terraform Lab’s motion to dismiss the case, rejecting its argument that relied on the “major questions doctrine.”

Purported crypto miner Green United has used the same argument in its own motion to dismiss. It has also been a centerpiece for crypto defendants in cases against the SEC, including from crypto exchange Coinbase.

However, in an Aug. 4 filing, the SEC said the recent Terraform Labs ruling provides additional authority for rejecting Green United’s major questions doctrine and fair notice defenses.

The court rejected the defendant’s arguments that the major questions doctrine and the due process clause “prevent the SEC from alleging the company’s digital assets to be ‘investment contracts,’” the SEC’s letter reads.

“Accordingly, Terraform Labs is relevant to this matter because it provides additional authority for rejecting Defendants’ ‘Major Questions Doctrine’ and fair notice defenses,” it added.

The latest arguments from the SEC could shed light on how it may approach Coinbase’s own motion to dismiss, which was also filed on Aug. 4.

In Coinbase’s motion to dismiss the SEC lawsuit, the crypto exchange argued that the major questions doctrine applied, as the SEC attempted to regulate the secondary market for crypto trading.

The major questions doctrine was established in a 2022 U.S. Supreme Court ruling outlining that Congress intends to make policy decisions and doesn’t delegate authority to agencies that require clear authorization from lawmakers.






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09/08/2023

A July report from cybersecurity certification platform CER found that only six of 45 cryptocurrency wallet brands, or 13.3%, have undergone pe*******on testing to find security vulnerabilities. Of these, only half have performed tests on the latest versions of their products.

The three brands that have done up-to-date pe*******on tests are MetaMask, ZenGo and Trust Wallet, according to the report. Rabby and Bifrost performed pe*******on testing on older versions of their software, and Ledger Live did it on an unknown version (listed as “N/A” in the report). All other brands listed did not provide any evidence of having done these tests.

The report also provided an overall ranking of the security of each wallet, listing MetaMask, ZenGo, Rabby, Trust Wallet and Coinbase Wallet as being the most secure wallets overall.

“Penetration testing” is a method of finding security vulnerabilities in computer systems or software. A security researcher attempts to hack into the device or software and use it for purposes it wasn’t intended for. In most cases, a pe*******on tester is given little to no information about how the product works. This process is used to simulate real-world attempts at hacking to uncover vulnerabilities before the product is released.

CER found that 39 out of 45 wallet brands didn’t perform any pe*******on testing at all, not even on older versions of the software. CER speculated that the reason may be that these tests are expensive, especially if the company makes frequent upgrades to their products, stating, “We attribute it to the amount of updates an average app has, where each new update can disqualify the pentest made earlier.”










07/08/2023

After a major rebranding of the popular social media platform Twitter to X, Elon Musk has now rebranded the popular Twitter Blue subscription services to X Premium.

The X Premium subscription services come with an ad revenue sharing model that will make all eligible X Premium subscribers eligible for a share of the ad revenue based on their engagement on the platform.

Only those X Premium subscribers will be eligible for ad revenue who receive at least 15 million total impressions on their posts in the last three months, have at least 500 followers, and must be at least 18 years old. Musk also notified that all ad revenue generated from non-subscribers will be kept by the platform.

X started sharing ad revenue in a surprise move last month where many Twitter users reported receiving their share of the revenue. On July 28, the ad revenue feature went live for all Blue subscribers. In a Twitter conversation, Musk noted that the revenue will be determined from the time he first promised it in February.

The ad revenue is shared based on advertisements posted in the comments of the user tweet replies. This format is quite similar to TikTok where instead of posting ads on the main feed, the platform usually posts them in the comments. Thus both X and TikTok incentivize users with more comments and reply activities under their posts.

However, within a week, the X support account notified that it has been overwhelmed by the number of premium subscribers and thus might take some time to review and pay out eligible accounts.

Musk has been very vocal about making X into an “everything app.” Just weeks after his takeover, Musk launched a Twitter Blue subscription that allowed users to buy blue tick verification marks from Twitter, with the product later evolving into a premium service that made way for subscribers to earn a portion of the ad revenue.










06/08/2023

The world’s largest crypto exchange platform by volume has announced support for memecoin Shiba Inu (SHIB) as a collateral asset for one of its loan programs.

In a new company statement, Binance says that it’s adding SHIB, alongside a handful of other altcoins, as collateral to its flexible loan feature.

Binance’s flexible loans allow users to take out loans collateralized by cryptocurrencies without needing to commit to a specific loan term for the duration of the loan.

Other digital assets included in the loan program as supported collateral include blockchain-based gaming platform Enjin Coin (ENJ), decentralized marketplace Holo (HOT) and video-focused blockchain Theta Network (THETA).

Earlier this week, the Shiba Inu development team announced that it was planning to incorporate blockchain-based digital identities into its ecosystem.

According to the official Shiba Inu Twitter account, lead developer Shytoshi Kusama said that they’re planning to add Self-Sovereign Identity (SSI) in all Shiba Inu projects, which are blockchain-based identities akin to digital passports.

Late last month, the Shiba Inu team released the beta version of its cross-chain bridge for public testing, prompting both SHIB and Bone ShibaSwap (BONE), the token associated with the ecosystem’s highly anticipated upcoming layer-2 scaling solution Shibarium, to rise, defying the overall crypto market trend at the time.

The bridge would allow traders to transfer tokens between Shibarium and the leading smart contract platform Ethereum (ETH).

Shiba Inu is trading for $0.00001 at time of writing, a 9.63% surge during the last 24 hours.










05/08/2023

Messari’s “State of Cardano Q2 2023” report, authored by Protocol Research Analyst Red Sheehan and released on 4 August 2023, provides a detailed look at the status of the Cardano network and ecosystem as of the end of Q2 2023.

Network Overview

The report notes that the average transaction fee on the Cardano network increased by 8.5% QoQ, but it’s still down by 50.8% YoY due to lower ADA prices. Interestingly, while daily active addresses saw a slight decline, the average daily transactions increased by 1.9% QoQ, indicating that existing users are becoming more active.

Cardano’s blockchain load also saw a significant increase, reaching over 50% in Q2. This is a positive sign as it indicates increased network usage. The report also mentions the launch of a UTXO Selection Benchmarking tool by dcSpark, which could help increase Cardano’s transactions per second (TPS) and bandwidth.

Financial Overview

Despite a 26.9% QoQ decline, ADA’s price is still up 12.0% YTD. The report highlights ADA’s use cases, including settling network fees, participating in network consensus, and staking to secure the network and earn token rewards. Additionally, ADA is used to reward voters and fund projects in Project Catalyst, Cardano’s decentralized innovation engine.

The report also mentions the SEC’s allegations against ADA, which led to a significant drop in ADA’s price. However, it points out that a recent court ruling in the SEC’s case against XRP could provide some insight into ADA’s legal status.

Ecosystem Overview

The Cardano ecosystem saw a significant increase in daily dapp transactions, with a 49.0% QoQ increase in Q2. Minswap, an automated market maker (AMM), emerged as the most popular Cardano dapp by transactions in Q2.

The total value locked in Cardano also increased by 9.7% QoQ to $151.7 million, despite ADA’s price decline. This growth has boosted Cardano’s TVL ranking among all networks from 34th to 21st in 2023.









04/08/2023

Google and Accenture, which have a joint business venture, are being accused by the Alphabet Workers Union of being in violation of federal labor laws in the United States, according to a Bloomberg report.

The union claims that Alphabet acted against a law that prohibits retaliation against employees for organizing, the report says, citing an Aug. 3 complaint from the union to the U.S. National Labor Relations Board.

Allegedly, Alphabet ended contract employment for a majority of Google Help workers as they were in the process of unionizing.

The report from Bloomberg says that over 70% of the “proposed bargaining unit” were told they would lose their jobs, including 118 writers, graphic designers and launch coordinators responsible for creating content for Google both internally and externally.

Workers responsible for Google’s search engine optimization and artificial intelligence (AI) chatbot are employed via Accenture.

Anjail Muhammad, a writer with Accenture who was told her job would be eliminated, said it felt “retaliatory,” according to the Bloomberg report.

“It’s obvious that this timing is incredibly suspicious, and that is why we are filing an unfair labor practice charge — to hold Google and Accenture accountable for their behavior.”

In July, when jobs were being cut, Google said organizing was “a matter between them and their employer, Accenture,” and that it does not control the terms and conditions of their employment.

According to Bloomberg, on the day the complaint was filed, Google said it still stands by the aforementioned statement and reiterated that any changes in employment contracts were due to savings and efficiency.

Early on in the year, on Jan. 20, Google is reported to have laid off 12,000 employees, joining a slew of other tech and crypto companies who laid off large numbers of employees around the time.










04/08/2023

Bankrupt crypto exchange FTX has filed a motion in court to remove its Dubai unit from ongoing restructuring proceedings in the United States.

In a court filing on Aug. 2, FTX argued that its Dubai unit didn’t conduct any business before the bankruptcy filing; thus, the subsidy is unlikely to rehabilitate its operations. The court will start its first hearing on the issue on Aug. 23.

In the filing, the crypto exchange noted that FTX Dubai is balance sheet solvent and, therefore, a voluntary “liquidation procedure in accordance with the laws of the United Arab Emirates would allow a timely distribution of the positive cash balance after payment of all outstanding liabilities and liquidation of all assets.“

FTX Dubai is a direct, wholly-owned subsidiary of FTX’s European arm, which obtained a virtual asset service provider license from Dubai’s Virtual Assets Regulatory Authority (VARA). FTX Dubai currently holds approximately $4.5 million in several accounts, of which $4 million is restricted by VARA as security for the license.

On July 25, VARA confirmed to FTX Dubai management that such restricted cash would be released in the context of the liquidation of FTX Dubai, according to United Arab Emirates law:

“All of FTX Dubai’s assets are located in the United Arab Emirates and substantially all of FTX Dubai’s prepetition activities occurred in the United Arab Emirates, the Debtors have determined that a timely local voluntary liquidation of FTX Dubai in accordance with the laws of the United Arab Emirates is in the best interests of the Debtors and their estate.”

FTX Dubai is expected to enter into an agreement with the appointed liquidator to implement basic administrative procedures, and promote the orderly and efficient administration of the liquidation.

FTX filed for bankruptcy on Nov. 11, 2022, with the exchange starting the bankruptcy proceedings for 102 associated entities worldwide.










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Cheems Balltze, the dog behind viral images of a Shiba Inu enjoying cheeseburgers, died in his sleep on Aug. 18 amid a battle with cancer. The dog, also called “Ball Ball,” was 12 years old at the time of his death. The Shiba Inu breed, in particular, is famous among cryptocurrency users as the basis of cryptocurrencies like Shiba Inu and Dogecoin, pushed by retail investors as well as high-profile figures like X (formerly Twitter) owner Elon Musk. “Don’t be sad, please remember the joy that Balltze brought to the world,” said an Aug. 18 post on Cheems’ Instagram page. “A Shiba Inu with a round smiling face connecting you and me, he has helped many people during the pandemic and brought a lot of joy to many of you, but now his mission has completed.” A different dog from Kabosu — the one featured in the meme on which Dogecoin was based — Cheems also appeared in shared images with the DOGE dog, such as in the meme “Swole Doge vs. Cheems.” Kabosu is expected to celebrate his 18th birthday in October but has also been experiencing significant health issues. The Doge meme went viral in 2013, prompting the creation of the DOGE token the same year by Billy Markus and Jackson Palmer. Crypto users, including those involved in the Dogecoin Foundation, offered their condolences at the loss of Cheems and support for Kabosu’s continued health. Memes of animals, from cats to dolphins, have often been the basis of token projects in the crypto space since its creation. In some real-world use cases, animals shelters have accepted DOGE and other coins as a way to encourage interest in spaying and neutering cats and dogs. #ethereummining #smartcontracts #bitcoiner #cryptocurrencyexchange #blockchainwallet #bitcoinusa #cryptoinvesting #sharecrypto #zcash #cryptos #antminer #coinmarketcap #bitcointrading #cryptocurrencycommunity #cryptocoin #cryptopsy #cryptocrunchapp #cryptography #investorsclub

The United States Securities and Exchange Commission (SEC) is likely to approve multiple applications for Ether futures exchange-traded funds (ETFs) at the same time, The Wall Street Journal reported, citing sources familiar with the matter. Since July, the regulator has been flooded with applications from several investment firms, including requests combining futures Bitcoin and Ether strategies. So far, the SEC has not instructed the firms to withdraw their applications, unlike in 2021, when firms were instructed to withdraw similar applications. This suggests that the regulator won’t block the fund’s launch within a few weeks, according to WSJ sources. At least 16 applications for Ether or Bitcoin-Ether futures ETFs are awaiting regulatory approval. Ether is the native coin of the Ethereum blockchain, used for peer-to-peer transactions within the decentralized network. A crypto futures ETF tracks the performance of crypto futures contracts. For example, instead of investing directly in Bitcoin or Ethereum, a crypto futures ETF invests in futures contracts that are tied to the price of these digital assets. With the prospect of crypto futures approval looming, the SEC keeps receiving requests. Earlier this week, asset management firm Valkyrie filed for an Ether futures ETF and a previous application combining a Bitcoin-Ether futures strategy. Valkyrie is the first in line in this race and could see its BTC-ETH ETF debuting in early October. In the ETF industry, first-mover advantage is important. According to the WSJ, citing data from Morningstar, the first futures Bitcoin ETF approved from ProShares has gathered $1 billion in assets under management since its inception in October 2021, while Valkyrie’s similar product, launched a few days later, amassed nearly $28 million in assets under management. #coinbasewallet #bitcoincharts #btcnews #cryptocurrencyexchange #bitcoinnetherland #bitcoinminning #bitcoininvestment #cryptocurrencyinvestments #cryptohum

On Aug. 15, the Ethereum Foundation listed projects and community events that received funding in Q2. Furthermore, the Foundation spent a total of $9.2 million supporting projects, conferences, and industry research. The largest number of recipients were community and education projects which included more than ten summits and conferences. Ethereum Foundation Promoting Education Conferences and hackathons across the world, including ETH Barcelona, ETH Belgrade, ETH Prague, Ethereum Singapore, and ETH Rome, were funded. Consensus Layer research on data availability sampling, distributed systems, and staking infrastructure tools received grants. There was also continued development of Nimbus and Lighthouse Ethereum clients. Cryptography and zero-knowledge proofs were a big category for funding. Toolings like Chiquito and Hypernova to build zk circuits more easily and privacy-preserving protocols like Lambdadelta, Isokratia, and zkEmail were included. Furthermore, continued work on foundational protocols like halo2, Semaphore, and others was mentioned. There was also funding for developer experience and tooling, such as Recovery Pulse for smart contract recovery. Execution Layer projects such as Fluffy light client were supported, as were Nethermind internships. Finally, there was funding for the Nimbus execution layer development and layer-2 Beacon Chain blockchain explorer. The Ethereum Foundation ecosystem support program (ESP) continues to back the growing environment on crypto’s largest smart contract network despite the ongoing bear market. #coinbasewallet #bitcoincharts #btcnews #cryptocurrencyexchange #bitcoinnetherland #bitcoinminning #bitcoininvestment #cryptocurrencyinvestments #cryptohumor #cryptomining #cryptolife #digitalcurrency #cryptosignals #bitcoincash #bitcoinvalue #cryptomillionaire #bitcoinuk #cryptography #sharecrypto

Crypto influencer Evan Luthra has brought a lawsuit against crypto exchange Bitget for freezing his account after a new token listing in March. According to Luthra, the exchange suspended his withdrawals and froze $200,000 in Tether while attempts to seek clarification went unanswered. Luthra’s involvement with the Reel Star project serves as a backdrop to these events. The influencer was hired as an adviser to Reel Star, a startup developing a social media app for creators. As compensation, Luthra was offered Reel Token (REELT), the project’s utility token. Upon its listing, the influencer sold 1.3 million REELT tokens on Bitget. Luthra’s account was then frozen under suspicion of market manipulation. Regarding the decision, a spokesperson from Bitget told Cointelegraph: “Bitget faced a manipulative attack by a group of traders attempting to profit by manipulating trades on the exchange. Their target was a new coin called REELT, which they tried to dump immediately after its listing on Bitget, causing a large drop in the coin’s price.“ Additionally, Bitget claims to have contacted the crypto influencer for an explanation: “In response, he admitted to selling the tokens. However, when we asked for the reasons behind this abnormal behavior, we did not receive active feedback or satisfactory response.“ Luthra claims innocence, citing Reel Star co-founder Navdeep Sharma’s alleged approval of his token sale plans. The influencer now seeks a substantial $16 million in damages, along with the $200,000 held in his account. His lawsuit encompasses Bitget, Foresight Ventures and key executives. “Bitget prevented me, a fully KYCed user of their platform, from withdrawing my tokens,” Luthra stated: “After I sold this portion of my allocated tokens, my funds —including the crypto [...] I already had on the exchange before REELT — were blocked, and the company stole what my tokens were worth for themselves.“ #cryptoexchange #bitcoingermany #bi

Global payment processing giant PayPal announced its United States dollar-pegged payment stablecoin called PayPal USD (PYUSD) on Aug. 7. The stablecoin is developed on Ethereum and will be issued by Paxos Trust Co. PYUSD is reportedly fully backed by U.S. dollar deposits, short-term Treasurys and similar cash equivalents. PayPal said that the launch showcases the company’s focus on becoming a crypto payment giant and aims to make the stablecoin a key part of its payment infrastructure. PYUSD is currently being rolled out for selected customers in the United States. The payment technology firm first confirmed its plan to launch a stablecoin in January 2022, nearly two years after it had made way for users in the U.S. and the United Kingdom to buy, sell and store cryptocurrencies in their PayPal accounts. PYUSD will be primarily used for remittances as well as a mode of payment for millions of PayPal merchants. The firm noted that the new stablecoin will be made available on Venmo in the near future, where users will be able to transfer it between the two platforms. The stablecoin will also be transferable with wallets that support PYUSD, such as Coinbase Wallet and MetaMask. Another stablecoin enters the market The crypto stablecoin market cap is $125 billion at the moment, primarily dominated by two players — Tether with a $86.5-billion market capitalization followed by Circle-issued USD Coin with a $26-billion market cap. The rest of the market share is taken up by the likes of Binance-supported stablecoins such as Binance USD, TruUSD and a few others. While there are several stablecoins players in the market, PayPal’s stablecoin will be the first issued by a major payment processor. The launch of PYUSD was welcomed by most of the current stablecoin market leaders, including Tether chief technology officer Paolo Ardoino, who told Cointelegraph that the new PayPal stablecoin will lead to healthy competition and offer users a wider choice. #ethereumminin

Former President Donald Trump is starting to look like something of a crypto whale, with both holdings of ether and earnings from his branded NFTs growing by the minute. The entrepreneur-turned-politician owns up to $5 million worth of ether in a wallet, according to certified 2023 financial disclosures posted online by Citizens for Responsibility and Ethics in Washington yesterday. An entry that details the potential size of the holding specifically lists income of $2.8 million. The disclosure also shows Trump earned $4.9 million from an NFT licensing deal with NFT INT LLC, the company behind two separate NFT drops that have netted millions of dollars in sales and royalties. New numbers show surge in activity News reports last week first showed Trump had up to $500,000 worth of ether, citing a disclosure from April. The newer disclosures on Citizens for Responsibility and Ethics in Washington’s website are dated from this month. Citizens for Responsibility and Ethics in Washington, or CREW, did not immediately respond to a request for comment when asked about the most recent August disclosure. Trump’s NFTs sold for $99, with the first drop at the end of last year and the second in April. The first series has generated more than $26 million in trading volume, according to OpenSea data. Royalties mirror Trump's holdings In royalties collected from secondary sales, Trump's two series of NFTs have generated $2.6 million, according to The Block Research analyst Brad Kay. The four digital wallets which receive those revenues currently hold about $3 million worth of ether, he said. Although Trump's holding in the filing of $2.8 million is very close to the amount held in the four wallets associated with the NFT collections, NFT INT LLC states on its website for the digital trading cards that it is a separate entity. #bitcoinworld #bitcoincharts #bitcoinmarket #tradinglifestyle #investinbitcoin #bitcoinusa #cryptonews #cryptocurrencyinvestments #trader #polonie

Europe will welcome a first-ever spot Bitcoin ETF after the long-awaited launch of Jacobi Asset Management’s Jacobi FT Wilshire Bitcoin ETF. The London-based digital asset management firm announced that its new investment product was going live on the Euronext Amsterdam stock exchange on Aug. 15, more than a year later than its planned launch in 2022. As previously reported by Cointelegraph, the offering was touted as the first spot or physical-backed Bitcoin fund that would allow investors to gain exposure to a financial product that is physically backed by BTC. The new exchange-traded fund (ETF) is set to trade under the BCOIN ticker, while the product was approved by the Guernsey Financial Services Commission back in October 2021. As reported by Blockworks, Fidelity Digital Assets will handle the custodial elements of the BCOIN ETF. The asset management firm also highlighted the environment and socially friendly nature of the fund, having added a renewable energy certificate (REC) to the ETF. The fund taps into external data to measure the energy usage of the Bitcoin network and buys and retires the RECs. The RECs are also accounted for on a blockchain service, which is aimed to allow investors to verify the eco-friendly claims of the fund. BCOIN makes use of the FT Wilshire Bitcoin Blended Price Index to access real-time average Bitcoin price data from certain cryptocurrency exchanges. The spot ETF allows investors to gain exposure to the Bitcoin market without having direct ownership or custody of the underlying asset. The launch of the spot Bitcoin ETF marks a milestone for Europe, while United States regulators are yet to approve a number of similar spot Bitcoin ETF applications from major asset managers, including BlackRock and Fidelity. #bitcoinchina #smartcontracts #bitcointalk #bitcoininvestor #bitcoinaustralia #cryptocurrency_news #tradelifestyle #miningrig #bitcointrade #cryptotrader #blockchain #xlm #cardano #cryptocurrencycommunity #bitcoini

The Securities and Exchange Commission’s (SEC) delay in deciding whether to approve a spot Bitcoin exchange-traded fund (ETF) in the United States is fueling expectations that a final verdict will come in a batch that includes key players on Wall Street, including BlackRock and Fidelity. “There’s a tremendous amount of pressure on the SEC to approve a number of these ETFs, particularly because the approved Futures backed products are lagging spot performance substantially, harming investors,” markets veteran and co-founder of CoinRoutes Dave Weisberger told Cointelegraph, adding that all pending applications will likely be included in a final decision. The SEC is analyzing a total of eight applications for a spot Bitcoin ETF, following past delays and denials of the crypto product in recent years. Companies up for a decision are ARK Invest and 21Shares, Bitwise, BlackRock, VanEck, WisdomTree, Invesco and Galaxy Digital, Fidelity, and Valkyrie. Together, the firms manage over $15 trillion in global assets. On Aug. 11, the U.S. markets regulator opened a 21-day comment period for the ARK 21Shares Bitcoin ETF. As per the filing, the SEC is seeking answers on whether ARK 21Shares’ proposal is designed to prevent fraudulent and manipulative acts and practices, as well as whether the Bitcoin market is susceptible to manipulation. Furthermore, the regulator raised concerns about Coinbase’s surveillance-sharing agreement, asking commenters to examine whether Coinbase’s participation in the ETF's surveillance would, in fact, help to detect, investigate and deter fraud and manipulation in Bitcoin’s price. "The SEC's primary concern is potential market manipulation by big whales in spot crypto ETFs. If the SEC registers all 8 ETFs, it will significantly reduce the probability of manipulation, as firms can trade frequently and take opposite sides," according to YouHodler's chief of markets, Ruslan Lienkha. #coinbasewallet #cryptowallet #btcnews #cryptocurr

A recent filing from the United States Securities and Exchange Commission (SEC) in its lawsuit against crypto miner Green United could shed light on how it may approach the case against Coinbase. On July 31, the SEC scored a win after Judge Jed Rakoff denied Terraform Lab’s motion to dismiss the case, rejecting its argument that relied on the “major questions doctrine.” Purported crypto miner Green United has used the same argument in its own motion to dismiss. It has also been a centerpiece for crypto defendants in cases against the SEC, including from crypto exchange Coinbase. However, in an Aug. 4 filing, the SEC said the recent Terraform Labs ruling provides additional authority for rejecting Green United’s major questions doctrine and fair notice defenses. The court rejected the defendant’s arguments that the major questions doctrine and the due process clause “prevent the SEC from alleging the company’s digital assets to be ‘investment contracts,’” the SEC’s letter reads. “Accordingly, Terraform Labs is relevant to this matter because it provides additional authority for rejecting Defendants’ ‘Major Questions Doctrine’ and fair notice defenses,” it added. The latest arguments from the SEC could shed light on how it may approach Coinbase’s own motion to dismiss, which was also filed on Aug. 4. In Coinbase’s motion to dismiss the SEC lawsuit, the crypto exchange argued that the major questions doctrine applied, as the SEC attempted to regulate the secondary market for crypto trading. The major questions doctrine was established in a 2022 U.S. Supreme Court ruling outlining that Congress intends to make policy decisions and doesn’t delegate authority to agencies that require clear authorization from lawmakers. #cryptoexchange #bitcoingermany #bitcointalk #bitmex #binanceexchange #bitcoinatm #bitcoin #cryptocurrencyinvestments #cryptohumor #wallstreet #bitcoinnews #bch #hodl #bitcoinprogress #monero #bitcointips #cryp

A July report from cybersecurity certification platform CER found that only six of 45 cryptocurrency wallet brands, or 13.3%, have undergone penetration testing to find security vulnerabilities. Of these, only half have performed tests on the latest versions of their products. The three brands that have done up-to-date penetration tests are MetaMask, ZenGo and Trust Wallet, according to the report. Rabby and Bifrost performed penetration testing on older versions of their software, and Ledger Live did it on an unknown version (listed as “N/A” in the report). All other brands listed did not provide any evidence of having done these tests. The report also provided an overall ranking of the security of each wallet, listing MetaMask, ZenGo, Rabby, Trust Wallet and Coinbase Wallet as being the most secure wallets overall. “Penetration testing” is a method of finding security vulnerabilities in computer systems or software. A security researcher attempts to hack into the device or software and use it for purposes it wasn’t intended for. In most cases, a penetration tester is given little to no information about how the product works. This process is used to simulate real-world attempts at hacking to uncover vulnerabilities before the product is released. CER found that 39 out of 45 wallet brands didn’t perform any penetration testing at all, not even on older versions of the software. CER speculated that the reason may be that these tests are expensive, especially if the company makes frequent upgrades to their products, stating, “We attribute it to the amount of updates an average app has, where each new update can disqualify the pentest made earlier.” #cryptoexchange #cryptowallet #bitcointalk #bitmex #investinbitcoin #cryptomoney #tradelifestyle #sharecrypto #trader #crypto #cryptocurrency #xlm #altcoin #bitcoins #cryptoinvestor #bitcoinasia #bitcoinuk #blockchainconference #bitcoinmining

After a major rebranding of the popular social media platform Twitter to X, Elon Musk has now rebranded the popular Twitter Blue subscription services to X Premium. The X Premium subscription services come with an ad revenue sharing model that will make all eligible X Premium subscribers eligible for a share of the ad revenue based on their engagement on the platform. Only those X Premium subscribers will be eligible for ad revenue who receive at least 15 million total impressions on their posts in the last three months, have at least 500 followers, and must be at least 18 years old. Musk also notified that all ad revenue generated from non-subscribers will be kept by the platform. X started sharing ad revenue in a surprise move last month where many Twitter users reported receiving their share of the revenue. On July 28, the ad revenue feature went live for all Blue subscribers. In a Twitter conversation, Musk noted that the revenue will be determined from the time he first promised it in February. The ad revenue is shared based on advertisements posted in the comments of the user tweet replies. This format is quite similar to TikTok where instead of posting ads on the main feed, the platform usually posts them in the comments. Thus both X and TikTok incentivize users with more comments and reply activities under their posts. However, within a week, the X support account notified that it has been overwhelmed by the number of premium subscribers and thus might take some time to review and pay out eligible accounts. Musk has been very vocal about making X into an “everything app.” Just weeks after his takeover, Musk launched a Twitter Blue subscription that allowed users to buy blue tick verification marks from Twitter, with the product later evolving into a premium service that made way for subscribers to earn a portion of the ad revenue. #bitcoinchina #cryptowallet #bitcoiner #cryptoexpert #blockchainwallet #bitcoinusa #bitcoininvesting #dashcoin #trader

The world’s largest crypto exchange platform by volume has announced support for memecoin Shiba Inu (SHIB) as a collateral asset for one of its loan programs. In a new company statement, Binance says that it’s adding SHIB, alongside a handful of other altcoins, as collateral to its flexible loan feature. Binance’s flexible loans allow users to take out loans collateralized by cryptocurrencies without needing to commit to a specific loan term for the duration of the loan. Other digital assets included in the loan program as supported collateral include blockchain-based gaming platform Enjin Coin (ENJ), decentralized marketplace Holo (HOT) and video-focused blockchain Theta Network (THETA). Earlier this week, the Shiba Inu development team announced that it was planning to incorporate blockchain-based digital identities into its ecosystem. According to the official Shiba Inu Twitter account, lead developer Shytoshi Kusama said that they’re planning to add Self-Sovereign Identity (SSI) in all Shiba Inu projects, which are blockchain-based identities akin to digital passports. Late last month, the Shiba Inu team released the beta version of its cross-chain bridge for public testing, prompting both SHIB and Bone ShibaSwap (BONE), the token associated with the ecosystem’s highly anticipated upcoming layer-2 scaling solution Shibarium, to rise, defying the overall crypto market trend at the time. The bridge would allow traders to transfer tokens between Shibarium and the leading smart contract platform Ethereum (ETH). Shiba Inu is trading for $0.00001 at time of writing, a 9.63% surge during the last 24 hours. #cryptoexchange #cryptocurrencymarket #kucoin #bitcoininvestor #bitcoinaustralia #cryptocurrencynews #invest #cryptocurrencyinvestments #cryptohumor #cryptomining #cryptoworld #cryptocurrencies #bitcointrading #bitcointechnology #bitcoinvalue #altcoininvesting #cryptoexplorer #cryptologyjournal #daytraders

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