Table of Contents
Welcome to today’s overview of crypto news:
The primary cryptocurrency has experienced a number of problems over the past week. Briefly surpassed the $ 50,000 mark last Monday, but the bears did not allow her further gains. Apart from a few unsuccessful attempts, the decline culminated yesterday, when the cryptocurrency dropped to a few days low of $ 46,500.
At that moment, however, the situation changed quickly. Instead of another decline, BTC quickly began to gain in value. He added more than $ 4,000 in one day and climbed above $ 50,000 again. It is currently still above $ 50,000.
It can be said that altcoins have surpassed their leader in the past week. ETH was in the lead, pumping out $ 3,100 to $ 3,600 in a matter of days. It has made even greater gains in the past 24 hours, reaching an intraday high of $ 3,850. Although the ETH has fallen $ 100 since then, it is still more than 6% higher than yesterday.
Ripple transferred 275 million XRP, more than half goes to Jed McCaleb’s wallet
Whale Alert, a popular cryptocurrency monitoring service, has seen several significant transfers. In the past 17 hours, giant Ripple had moved several glaring stacks of XRPs, one of which had been sent to Jed McCaleb’s wallet.
He is one of the co-founders of the Ripple project and was the company’s first technology director, but he only held this position for about a year.
Whale Alert noticed two massive crypto transactions carrying an incredible 100 million and 174,862,720 XRP. The first sent funds to one of the wallets Ripple often used – RL18-VN, which is often used to transfer XRP tokens outside the company – to cryptographic exchanges or financial institutions. The second transaction belonged to Jed McCaleb.
Banks, crypto exchanges, companies
OKEx crypto exchange launches DeFi hub and NFT marketplace
OKEx Global Cryptobourse is stepping up its decentralized finance (DeFi) efforts with the introduction of the DeFi Hub, a decentralized digital asset ecosystem that includes an NFT marketplace.
According to the announcement from September 2, the crypto exchange launched its DeFi Hub with two initial tools, NFT Marketplace and DeFi Dashboard. The NFT Marketplace allows users to mint their own NFTs, which they will sell with a license fee set by their creators.
Users could import NFTs from other supported platforms, such as OKExChain, into the OKEx NFT Marketplace, where they can buy, sell or trade NFTs “with zero fees paid by OKEx”.
The SEC accuses the founders of BitConnect of a “textbook Ponzi scheme” worth $ 2 billion
According to a Reuters report, the founder of the now defunct crypto exchange BitConnect is sued by the US Securities and Exchange Commission for a “textbook Ponzi scheme” worth $ 2 billion.
The Securities and Exchange Commission claims that BitConnect founder Satish Kumbhani, an Indian citizen, lied that the exchange could earn 40% of the proceeds from investing in BitConnect’s native token through a “software trading bot,” although no such boot existed. In a separate lawsuit, the Securities and Exchange Commission also accused promoter Glenn Arcaro of receiving a referral commission of more than $ 24 million through BitConnect.
South Korean telecom giant will launch a blockchain-based electronic platform to reduce carbon emissions
Leading South Korean telecommunications company KT Corp. is the latest entity to embark on a blockchain and plans to launch an electronic document platform using this technology. According to a press release, it is working with 14 other entities to develop the “E-document Digital Transformation (DX) One Team” with the broad goal of reducing carbon emissions.
As part of the project, KT will create an electronic document platform based on a blockchain, building on the capabilities of its existing digital platforms. The platform will process the life cycle of documents from their creation, storage, distribution and use. The platform will also allow adaptation for project participants with the support of various electronic document services.
Singapore has added Binance.com to its list of unregulated entities
According to local media, the Singapore Monetary Authority (LAG) today added Binance.com – the world’s largest cryptocurrency exchange by trading value – to its “black list”. The LAG alert list identifies entities that are not regulated but may have given the public the impression that they are licensed by the LAG.
In response to a request for comment, a Binance spokesman said that Binance.com was aware of the LAG’s announcement and was “actively working with the LAG to address their potential concerns through constructive dialogue.”
A Binance spokesman clarified that Binance.com and Binance Singapore (Binance.sg) are separate exchanges. Binance Singapore is supported by Vertex Venture Holdings and focuses exclusively on the development of Singapore’s cryptocurrency ecosystem and user service in Singapore. Vertex Holdings is a Singapore venture capital holding company owned by the state investment company Temasek Holdings.
Australia, Singapore, Malaysia and South Africa are launching a joint CBDC pilot project
The central banks of Australia, Singapore, Malaysia and South Africa have announced a joint initiative to test international transfers using central bank digital currencies (CBDC).
The Dunbar Project initiative will be a prototype of a shared platform enabling direct transfers between institutions using digital currencies issued by multiple central banks. The conclusions of the pilot project will be used to inform “the development of global and regional platforms” and, in addition, will support the G20’s plan to improve cross-border payments.
The Dunbar project will be implemented in cooperation with the Bank for International Settlements (BIS) innovation center from its Singapore center. The project will involve more partners to develop different DLT platforms and explore different proposals that would allow central banks to share CBDC infrastructure.