Author: Andrei Ionescu
Global cryptocurrency exchange OKX has announced that its Singapore subsidiary, OKX SG, has been granted a full Major Payment Institution (MPI) license by the Monetary Authority of Singapore (MAS). This license authorizes OKX SG to offer digital payment token services and cross-border money transfers, including spot crypto trading for Singaporean investors. In conjunction with receiving the full license, OKX SG has appointed Gracie Lin, a former official of MAS, as the CEO of its regional operations. Lin brings a wealth of experience from her time at MAS, Singapore’s sovereign wealth fund GIC, and ride-hailing giant Grab. According to OKX, Lin…
Cardano, the Layer 1 blockchain established by Ethereum co-founder Charles Hoskinson, has officially embarked on a historic transition with the implementation of the Chang hard fork. This marks the first major blockchain to shift from a centralized governance structure to a decentralized, token-based system. The initial stage of the Chang hard fork, which went live recently, sets Cardano on a 90-day path toward a fully community-led governance model. During this period, an interim committee will oversee the transition, ensuring the security and continuity of the network as the new governance bodies are established. These new bodies include a constitutional committee,…
OKX has announced plans to delist the FRONT/USDT margin trading pair and its associated perpetual futures contract as part of an effort to improve market liquidity and enhance the overall user experience. Key Details: During the delisting process, OKX will suspend margin trading and flexible loan services for the affected pair. Open orders for margin trading will be canceled, and users who have borrowings or collateral tied to the FRONT/USDT pair should ensure repayment before the delisting time to avoid forced repayment. Perpetual Futures: OKX will also terminate all relevant perpetual futures contracts for the FRONT/USDT pair. These contracts will…
OKX, a leading cryptocurrency exchange, has announced the upcoming listing of Hamster Kombat (HMSTR) on its spot trading market, scheduled for September 26. The precise timeline for the listing will be announced separately. Project Overview: Hamster Kombat Hamster Kombat is an innovative tap-to-earn game that combines elements of a crypto exchange simulator. In this game, players take on the role of the CEO of a growing cryptocurrency exchange within a fictional world of hamsters. The objective is to expand the exchange to unprecedented heights by tapping a golden coin to earn in-game currency, which can then be used to purchase…
Russia is set to begin testing cross-border cryptocurrency payments next week in an attempt to bypass international sanctions, but experts warn that the effort may be futile due to the traceability of blockchain transactions and the potential for even stricter sanctions. The new legislation, passed in July and quickly signed into law by President Vladimir Putin, allows cross-border payments using cryptocurrencies but does not lift the existing ban on using them as legal tender within Russia. The law grants Russia’s central bank the authority to oversee an “experimental” regime for these payments, though specific rules and mechanisms remain unclear. Russia…
Former President Donald Trump announced that he will unveil a comprehensive plan on Thursday aimed at positioning the United States as the global leader in cryptocurrency. Trump made the announcement via a post on X (formerly Twitter), signaling a major move in his campaign to win back the presidency in 2024. “This afternoon I’m laying out my plan to ensure that the United States will be the crypto capital of the planet,” Trump said in the post, which featured the logo of World Liberty Financial, a decentralized finance (DeFi) project that has received endorsements from his sons, Donald Trump Jr.…
IREN, formerly known as Iris Energy, announced record-breaking financial results for the fiscal year ending June 30, 2024, with significant growth in bitcoin mining revenue and capacity expansion. The company reported $184.1 million in bitcoin mining revenue, marking a 144% increase from the $75.5 million generated in the previous fiscal year. This surge was driven by a combination of increased hashrate and higher bitcoin prices. The company nearly doubled its self-mining capacity, growing from 5.6 exahashes per second (EH/s) to 10 EH/s during the period. As a result, IREN mined a record 4,191 BTC, up from 3,259 BTC in the…
Kaia, the highly anticipated Layer-1 blockchain developed by two of Asia’s leading messaging apps, Kakao and LINE, has officially launched its mainnet. The launch occurred at 10 p.m. Eastern time on Wednesday, marking a significant milestone in the blockchain’s development. According to a press release, the Kaia mainnet is touted as “the world’s fastest EVM blockchain,” featuring one-second finality, ultra-low gas fees, and backing from prominent Asian web3 partners, including Kakao and LINE NEXT. The blockchain’s development comes after a merger in April between Kakao’s Klaytn and LINE’s Finschia platforms. Together, Kakao and LINE command a massive user base of…
Spot Ethereum exchange-traded funds (ETFs) in the U.S. have reversed a nine-day trend of outflows with a net inflow of $5.84 million on Wednesday. This marks a significant moment for the funds, which have seen sustained outflows over the past week. Data from SoSoValue reveals that while the Grayscale Ethereum Trust (ETHE) experienced a daily net outflow of $3.81 million, this was more than offset by inflows into other funds. Notably, BlackRock’s spot ether fund attracted $8.4 million, and Fidelity’s FETH saw an inflow of $1.26 million. Despite the recent inflow, the nine spot ether ETFs recorded $151.57 million in…
Sony Block Solutions Labs, the blockchain division of Sony Group Corporation, has announced the launch of the first public testnet for its Soneium blockchain, an Ethereum Layer 2 network based on the Optimism stack (Op Stack). Alongside the testnet, Sony is also rolling out a developer incubation program to foster innovation on the platform. “This dual initiative marks a significant milestone in Sony Group Corporation’s entry into Web3, poised to catalyze ecosystem growth and accelerate adoption by leveraging its vast global reach and technological expertise across entertainment, gaming, and consumer electronics sectors,” Sony stated in a press release. The Soneium…