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Bitcoin slipped to a 24-hour low of around $57,250 Monday morning, before staging a recovery to levels over $58,000. Per data from CoinGecko, Bitcoin's price dropped to a low of $57,257.71 before recovering to its current price of $58,419.26, trading flat on the day and down 8.6% on the week, amid continuing outflows from investment products and a prevailing trend of declining exchange reserves. Speaking with Decrypt, Kristian Haralampiev, Structured Products Lead at Nexo, said the sharp declin...

The U.S. Securities and Exchange Commission (SEC) has said it “reserves its rights” to object to proposals by FTX administrators to pay creditors in stablecoins. In a court filing released on Friday, the regulator said that it “is not opining as to the legality, under the federal securities laws, of the transactions outlined in the Plan and reserves its rights to challenge transactions involving crypto assets.” The SEC also noted that the administrators for the FTX estate “have not identified th...

The crypto industry is set to descend on Singapore for next month’s Token2049 event, with headline speakers including Binance CEO Richard Teng and Solana founder Anatoly Yakovenko next month. With an expected 20,000 attendees, Token2049 is “the largest crypto event of the year,” co-founder Alex Fiskum said in a statement. He added that, “We look forward to welcoming the global crypto community to Singapore next month for our most dynamic and immersive Token2049 experience yet.” Other headline sp...

On Sept. 1 at 21:44 UTC, layer-1 blockchain Cardano executed the 'Chang' hard fork at block 10,764,778, entering the “Voltaire Era” and introducing on-chain governance using its native token ADA. Following the hard fork, ADA token holders now have the power to elect representatives and vote on key development proposals. According to the Cardano roadmap, the Voltaire era “will provide the final pieces required for the Cardano network to become a self-sustaining system.” It added that the introduc...

Investors were quick to pull cash out of Bitcoin exchange-traded funds (ETFs) last week as the number of people betting on the price of the biggest digital coin to drop soared.  A total of $319 million exited funds from Fidelity, ARK Invest, and other Wall Street heavyweights that give investors exposure to Bitcoin, a Monday report by asset manager CoinShares said. It added that short Bitcoin investment products (that is, products used to bet that the price of Bitcoin will go down) received $4.4...

X Empire, formerly known as Musk Empire, has announced when its mining phase will end. This means the project’s airdrop isn’t far away. Elon Musk-themed Telegram crypto game X Empire, formerly known as Musk Empire, has announced that it will be ending its “mining phase” on September 30. This sees the tap-to-earn game entering the last month for players to rack up points before the project’s upcoming airdrop. Ending its “mining phase” means that after September 30, any in-game progression will no...

Pump.fun has notched $100 million in revenue in just over seven months, making it the fastest-growing protocol by revenue growth in the cryptocurrency ecosystem—even as activity on the platform has slowed in recent weeks.  The memecoin launchpad, which debuted in January, hit $100 million in revenue in 217 days, data from Dune Analytics shows. That’s 34 days less than it took the next fastest-growing protocol, ENA, to hit the same revenue benchmark, according to an analysis from Ryan Watkins, da...

Bluesky, the decentralized X (formerly Twitter) alternative—co-founded by former Twitter CEO Jack Dorsey—has catapulted to prominence in Brazil, gaining a staggering 1 million new users in just three days. The surge comes on the heels of a court-ordered suspension of X in the South American nation. The rapid influx of Brazilian users was more than welcomed by the social media platform. “Welcome to the one million new users in the last three days,” the platform said in what is also its most-liked...

The wife of a senior Binance executive accused of laundering $35 million in Nigeria has issued a plea for the U.S. government to intervene in what she considered to be the unlawful detention of her husband, Tigran Gambaryan. Gambaryan, a former IRS agent, has been held in a Nigerian jail since February on money laundering charges. Gambaryan’s health has deteriorated while in jail, but a Nigerian court denied his request for bail in May, citing flight risk concerns. “The U.S. government must do m...

Japan’s Metaplanet has partnered with SBI VC Trade, the crypto division of financial services giant SBI Group, to support its ongoing efforts to bolster its corporate Bitcoin holdings. The partnership grants Metaplanet access to SBI's custodial services, designed to prioritize tax efficiency and offer the potential to use Bitcoin as collateral for financing.  It forms part of Metaplanet's strategy to engage with industry players in Japan and broaden its financial options, the companies announced...