The blockchain analysis firm Nansen recently unveiled a rather intriguing discovery – DBS Bank, one of Singapore’s leading banking institutions, has been identified as a cryptocurrency whale. A crypto wallet supposedly owned by DBS Bank holds a staggering 173,753 Ether (ETH), with a current market value of approximately $650 million. Notably, the address in question
digital assets
Senator Cynthia Lummis has been a key figure in advocating for pro-crypto legislation in the United States. Her efforts to educate fellow senators about digital assets have not gone unnoticed. Lummis has been instrumental in establishing a financial innovation caucus and a framework for managing the crypto sector. Her emphasis on Bitcoin as a store
Gemini exchange recently announced that users of its Earn product have received $2.18 billion worth of their digital assets, which accounts for 97% of the total digital assets owed to them. This distribution is a significant milestone following the collapse of crypto lender Genesis, which had ceased withdrawals in November 2022. Gemini confirmed that the
Gemini’s recent announcement of successfully recovering almost all of its customers’ digital assets has sent ripples throughout the cryptocurrency community. This unprecedented recovery by the crypto exchange, established by the Winklevoss twins, has showcased a level of responsibility and commitment that is commendable in the industry. The news broke on Wednesday, with Gemini revealing that
The approval of spot Ether ETFs by the U.S. Securities and Exchange Commission has sparked discussions about the potential impact on the market. According to a report by Kaiko, if Grayscale’s upcoming Ether ETF follows the trend set by the company’s Bitcoin Trust, it could see an average outflow of $110 million per day. The
OKX, a prominent cryptocurrency exchange, recently announced that it would be discontinuing its centralized cryptocurrency trading services for residents of Hong Kong effective May 31, 2024. This decision was made in compliance with regulatory requirements, with the exchange citing a “careful consideration” of its business strategy as the reason behind the move. While OKX assured
Recently, a Bernstein report has shed light on the potential approval of a spot Ethereum (ETH) exchange-traded fund (ETF) in the United States. This approval could set a precedent for the classification of Solana (SOL) as a commodity. The classification of cryptocurrencies as either securities or commodities carries significant implications for the industry as a
The recent court decision by the First District Court of Appeals in Florida has overturned an Emergency Suspension Order (ESO) issued by the Office of Financial Regulation against Binance.US. The ESO was initially put in place earlier this year, banning Binance.US from serving residents in Florida due to an alleged “immediate danger” to the public.
Gary Gensler, the Chairman of the US Securities and Exchange Commission (SEC), recently expressed strong opposition to the Financial Innovation and Technology for the 21st Century (FIT21) Act. This act has been hailed for providing regulatory clarity to the crypto industry, but Gensler argues that it would actually weaken consumer protections in the market. The
Institutional investors have recently been doubling down on Bitcoin, showing a surge in confidence in the leading cryptocurrency. Last week, investment funds related to Bitcoin saw massive inflows, totaling $942 million. This surge in investments is seen as a bullish signal that could potentially drive Bitcoin’s price to $80,000. This influx of capital is attributed