Author: Andrei Ionescu

Binance, one of the world’s largest cryptocurrency exchanges, has imposed restrictions on Palestinian user accounts following instructions from the Israel Defense Forces (IDF). This move has sparked significant debate within the global cryptocurrency community and raised concerns about user access and the broader implications of regional tensions on the industry. Ray Youssef, co-founder of Paxful and CEO of Noones, brought attention to the issue on X (formerly Twitter), stating that Binance had frozen the accounts and funds of all Palestinian users. According to Youssef, this action was taken in response to a directive from the IDF, with no opportunity for…

Solayer Labs, the developer behind the Solana restaking protocol Solayer, has secured $12 million in a seed funding round, pushing its valuation to $80 million. The round, led by Polychain Capital, included investments from Big Brain Holdings, Hack VC, Nomad Capital, Race Capital, ABCDE, and Arthur Hayes’ family office, Maelstrom, the company announced on Tuesday. The round, which closed in May, was structured as a simple agreement for future equity (SAFE) with token warrants, according to co-founder Rachel Chu. Binance Labs also participated in the funding, as part of the same round. Solayer had previously raised funds in a pre-seed…

Despite former President Donald Trump’s hints that he may skip the upcoming September 10 debate with Vice President Kamala Harris, traders on the crypto-based prediction market platform Polymarket believe he’s bluffing. As of Tuesday afternoon in New York, “Yes” shares for the question “Will Trump debate Kamala on Sept. 10?” were trading at 84 cents. This indicates that traders see an 84% chance he will participate in the debate. The bets, encoded into a smart contract on the Polygon blockchain, offer a $1 payout in stablecoin USDC if Trump follows through, and zero if he doesn’t. The contract launched Monday,…

Xapo Bank is partnering with Hilbert Capital to manage a bitcoin-denominated hedge fund worth $200 million, the companies announced on Tuesday. The fund is set to launch in September and will be accessible to corporates, businesses, and professional investors. The partnership between Xapo Bank and Hilbert Capital, the asset management division of Swedish investment firm Hilbert Group (HILB), aims to offer institutional investors a more structured approach to growing their bitcoin holdings. “We believe that offering the right products for participants in the space who are aiming not only for exposure to the Bitcoin price but also structured ways to…

The arrest of Telegram CEO Pavel Durov in France could be the first of many similar actions against tech executives resisting government demands, according to a report by Galaxy Research on Monday. The report suggests that Durov’s detention highlights escalating tensions between governments and platforms offering encrypted communication. Durov was arrested at Le Bourget Airport over the weekend in what Galaxy describes as a significant move against a prominent tech figure. The report speculates that Telegram and Durov may have resisted takedown or information requests from European authorities, particularly from the French government. Telegram’s links to The Open Network (TON)…

The U.S. Securities and Exchange Commission (SEC) has charged brothers Jonathan and Tanner Adam with orchestrating a $60 million Ponzi scheme involving a fraudulent crypto trading platform, the regulator announced Monday. The scheme allegedly defrauded more than 80 investors between January 2023 and June 2024. According to the SEC complaint, the Adams lured investors with promises of returns as high as 13.5% per month. They claimed that Jonathan Adam had developed an automated trading “bot” capable of identifying profitable arbitrage opportunities on a crypto asset platform. The SEC says these claims were entirely fabricated. The commission has also secured emergency…

Spot bitcoin exchange-traded funds (ETFs) in the U.S. recorded $202.51 million in net inflows on Monday, marking the eighth consecutive day of positive momentum. The 12 bitcoin funds have attracted a combined $756 million over the past eight trading days. BlackRock’s IBIT fund led Monday’s inflows with $224.06 million, the fund’s largest single-day inflow since July 22, according to data from SoSoValue. Other notable inflows included $5.52 million into Franklin Templeton’s EZBC and $5 million into WisdomTree’s BTCW. However, not all funds saw gains. Bitwise’s BITB fund experienced net outflows of $16.61 million, the largest outflows of the day, followed…

The bankruptcy administrator for crypto lender Celsius has distributed more than $2.53 billion in liquid cryptocurrency and cash, according to the first status report on payouts. The distributions, made at January 16 prices, were sent to approximately 251,000 creditors, covering around two-thirds of all eligible claimants by number and 93% by value, the administrator noted in a Monday court filing. Despite the significant progress, about 121,000 eligible creditors have yet to claim their distributions, which average around $1,500. Of those, 64,000 creditors have payouts of less than $100, while 41,000 others are owed between $100 and $1,000. The filing suggests…

The Solana blockchain has seen a significant drop in daily transaction fees, hitting levels not observed since early May 2024. On Monday, fees paid on the network amounted to just $639,000, representing a 65% decline from this month’s peak of $1.83 million on August 8 and an 87% decrease from the all-time high of $5.08 million on March 18, according to The Block’s Data Dashboard. The sharp drop in fees reflects cooling activity on the Solana network, with the fading hype around memecoin trading being a major factor, according to Ruslan Lienkha, Chief of Markets at YouHodler. “I believe the…

Bitcoin (BTC) slid under the $64,000 level in Asian trading hours on Monday, following a brief rally after favorable comments at the Jackson Hole symposium. The flagship cryptocurrency saw a 5% bump on Friday after U.S. Federal Reserve Chairman Jerome Powell signaled the beginning of a monetary easing cycle next month, boosting risk assets with the lure of cheaper money. Despite gains through Saturday, major tokens recorded slight losses over the past 24 hours. Ether (ETH) traded just above $2,700, while Solana (SOL) and XRP were priced at $158 and $0.58, respectively. Tron (TRX) bucked the trend with a 3%…