Our weekly roundup of news from East Asia curates the industry’s most important developments. On Aug. 11, a Chinese individual known only as Mr. Chen was sentenced to nine months in prison after helping his friend, Mr. Lin, purchase 94,988 Chinese yuan ($13,104) worth of Tether (USDT) and earning a commission of 147.1 Yuan ($20.24).
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OpenSea is set to disable the royalty enforcement function on its platform starting next month. The NFT marketplace will remove its Operator Filter, making royalties optional for new collections. Royalties will be enforced for collections that enable the Operator Filter before August 31, 2023. NFT creators online have expressed frustration with the policy change. OpenSea
Bitcoin (BTC) is struggling to avoid further losses this week as an extended sideways trading period risks ending in a breakdown. BTC price action, long constricted by resistance above $30,000, is looking increasingly unstable, data from Cointelegraph Markets Pro and TradingView shows. The latest Federal Reserve minutes served to sharpen Bitcoin bears’ game on their release
A federal judge in Texas has sided with the United States Department of the Treasury by granting a motion for summary judgment in a lawsuit concerning Tornado Cash brought by six individuals backed by crypto exchange Coinbase. In an Aug. 17 filing in the U.S. District Court for the Western District of Texas, Judge Robert
SpiritSwap, a decentralized exchange (DEX) on Fantom, will no longer shut its doors in September after having treasury funds stuck on troubled cross-chain protocol Multichain. In an Aug. 16 community vote, SpiritSwap users passed a resolution to transfer the project to Power, a fellow nonfungible token platform and DEX that is also based on Fantom.
The price of Bitcoin (BTC) has jumped to a fresh high in Argentina since the news that Bitcoin-friendly presidential candidate Javier Milei won a primary election on Aug. 13, with 1 BTC reaching a value of 10.2 million Argentine pesos (ARS) on Aug. 14, according to data from CoinGecko. While global cryptocurrency markets are experiencing a notable
The Bitcoin (BTC) and Ether (ETH) 90-day price volatility hit a new multi-year low in August as the top two cryptocurrencies continue to trade under their key resistance of $30,000 and $2,000 respectively. According to data shared by crypto analytic firm Kaiko, the 90-day volatility of BTC and ETH hit 35% and 37% respectively making
Blockchain gaming needs its own ‘EVO Moment 37’? While the Web3 gaming ecosystem is still trying to find its footing in the mainstream gaming world, a key element missing from almost all the Web3 titles is inspiration. To achieve a broader audience, Web3 gaming needs a “wow” moment to go viral and into the records
The launch of the Shibarium mainnet — a layer 2 scaling solution for the Ethereum network — appears to have gotten off to a rocky start, at least when it comes to the price of its related tokens. Many Shiba Inu (SHIB) holders had held out hope for a sharp appreciation of SHIB, Shibarium’s governance
The legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC) is further unfolding as the latter’s pursuit of an interlocutory appeal becomes a critical nexus of contention. Ripple has filed it’s opposition to the SEC’s anticipated motion for leave to file an interlocutory appeal yesterday. Chief Legal Officer (CLO) Stuart Alderoty
Derivatives marketplace CME Group is launching Bitcoin (BTC) and Ether (ETH) reference rates for the Asia Pacific region, in another sign of growing institutional interest in crypto from Asia. On Aug. 16 derivatives marketplace CME Group said it’s partnered with crypto indices provider CF Benchmarks and on Sep. 11 to launch the two Asia Pacific-focused
Asset management firm Valkyrie has filed for an Ether (ETH) futures exchange-traded fund (ETF) with the United States Securities and Exchange Commission. According to documents on Aug. 16, the application is an addition to the company’s previous move to change its investment strategy for a Bitcoin futures ETF in line with the regulator. As per
Ripple Labs has voiced its opposition towards the United States securities regulator’s move towards filing an interlocutory appeal relating to the summary judgment laid down by U.S. District Court Judge Analisa Torres on Jul. 13. In an Aug. 16 letter to Torres of the Southern District of New York, Ripple’s lawyers explained that because the Securities
A Bitcoin (BTC) wallet containing 1,005 BTC mined in 2010 has reawakened, with an anonymous user moving the long dormant coins to new addresses in a number of different transactions. Speaking exclusively to Cointelegraph, blockchain researcher, developer and cryptocurrency trader Kirill Kretov weighed in on the event after initially flagging the movement of the BTC
Shiba Inu launched the Shibarium mainnet, an Ethereum layer-2 scaling solution, on Aug. 16 after months of testing that saw millions of users participate and 21 million wallets created. Shibarium is built on a new consensus mechanism called proof-of-participation (PoP), which works by selecting validators in proportion to their quantity of holdings in the associated
Size and energy allowed Kraken to stay in Canada after the imposition of new registration requirements for crypto exchanges in February. But in spite of the demanding process, the regulatory clarity has benefited the company, Kraken managing director for Canada Mark Greenberg said. Speaking to Cointelegraph’s Sam Bourgi at the Blockchain Futurist Conference in Toronto,
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