OKX announced last Friday that it had withdrawn its application for a VASP license in Hong Kong.In a statement, the cryptocurrency exchange cited “careful consideration” of its business strategy as the motivation for its decision, without going into further detail as to why. OKX was unable to expand on its statement upon request from The Block.In line with local regulatory requirements, OKX said it would discontinue its centralized cryptocurrency exchange services for Hong Kong residents by May 31.Although the cryptocurrency exchange has tried to reassure users that their funds remain safe, deposits after this date may not be automatically credited…
Author: Crypto Flexs
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The world’s largest digital asset manager has unveiled two new cryptocurrency investment trusts for Ethereum (ETH) rival Near Protocol (NEAR) and Bitcoin (BTC) Layer 2 Project Stack (STX). In a statement, Grayscale Investment said daily subscriptions to Grayscale Near Trust and Grayscale Stacks Trust are now available to qualified individual and institutional investors. The new investment trusts from Near and Stacks expand Grayscale’s expanding catalog of cryptocurrency product-focused investment vehicles. “The trust functions like Grayscale’s existing suite of single-asset investment trusts, each of which is one of the first investment products invested solely in the tokens behind Near Protocol (NEAR)…
join us telegram A channel to stay up to date on breaking news coverage Regulation of the cryptocurrency market shapes the space, fueling innovation and caution. Governments and financial watchdogs are tightening rules around the world to prevent fraud and ensure market stability. Although they sometimes cause short-term volatility, these measures are seen as a step toward broader acceptance of digital assets. Ethereum’s recent price movements Reflects a dynamic regulatory sector. Ethereum initially soared but later fell 4% after the SEC approved the required regulatory filings for the Ether ETF. Despite this setback, Ethereum has surged 20% over the past…
May 24th What is PORTAL? Post time: 11:51h education Maria Lobusova Portal is an ambitious cross-chain gaming platform that aims to revolutionize the web3 gaming landscape by connecting blockchain games across various networks such as Ethereum, Polygon, Avalanche, and Solana. Portal will leverage LayerZero’s messaging protocol to integrate over 200 games at launch, providing a seamless experience for both game developers and players. The platform easily integrates native PORTAL tokens into these games and improves user engagement through simplified gameplay and transaction processes across multiple blockchains. The PORTAL token is central to the ecosystem and functions as a general-purpose gaming…
Introduction to Wormhole ConnectionsWormhole unveils Wormhole Connect, an innovative front-end development tool designed to simplify cross-chain interactions in the ever-growing blockchain ecosystem. According to a company blog post, the tool allows developers to integrate cross-chain functionality into their applications with just three lines of code.Why Wormhole Connection?As the number of isolated chains and ecosystems continues to grow, the demand for interoperability solutions has never been higher. Wormhole Connect solves the interoperability challenges faced by decentralized applications (dApps), allowing them to operate seamlessly across multiple blockchain networks. This facilitates easy asset transfer and linking capabilities, expanding…
PEPE, a popular frog-themed meme coin, continued its strong performance, rising more than 10%. Over the past few days, Pepe’s price has surged, reaching several new all-time highs (ATHs). In the last 24 hours, Pepe’s price has surged more than 10%, hitting a new ATH of $0.00001577 and maintaining its strong performance over the past three months. Despite the impressive rise, profit-taking by sellers drove Pepe’s price down to $0.00001501, still 6.64% higher than 24 hours ago. PEPE 24-hour price chart | Source: CoinMarketCap According to data from CoinGecko, Pepe is up 55.8% over the past week and 98.8% over…
The Ethereum Foundation (EF) is considering implementing a formal conflict of interest policy following backlash against two prominent developers who joined EigenLayer as advisors.Executive Director Aya Miyaguchi addressed the issue in a social media post, emphasizing the importance of maintaining trustworthy neutrality within the organization. She said the foundation is committed to sharing the community’s concerns and maintaining their trust.Miyaguchi said:“It is clear that relying on culture and individual judgment is not enough, and we have been preparing a formal policy for some time to address this issue. We will accelerate this work and will share updates soon.”arguementThe controversy began…
Approved in-kind by the U.S. Securities and Exchange Commission Ethereum ETH +1.24% Last week, some products left us with questions like: Is Ethereum now a necessity? The answer is still unclear.It is unclear whether the SEC has jurisdiction over Ethereum. The agency’s chairman, Gary Gensler, did not explicitly state that Ethereum is a security. but, Consensis A cryptocurrency company filed a complaint against the agency last month, alleging that the agency treated ether as a security.Meanwhile, Rostin Behnam, chairman of the Commodity Futures Trading Commission, the SEC’s sister agency, argued that ether is a commodity.This is provided by SEC. Approved…
Many long-term XRP holders may have changed their addresses but may not participate in the sell bid. Short-term participants made some profits, but the token was still undervalued. In less than two weeks, XRP’s spending age indicator has bounced back from major lows three times. The first time the metric jumped to 214.86 billion was on May 16th. On May 20, it hit $539.79 billion, and on May 24, the indicator rose again, indicating a significant increase in token movement by long-term holders. For those unfamiliar, Age Consumed tracks the amount of tokens that change addresses within a certain period…
BlockDAG It quickly became a trending topic on several social platforms after receiving support from prominent YouTuber Crypto Rick. Celebrating cutting-edge technology and compatibility with the Ethereum Virtual Machine (EVM), Rick’s support has significantly boosted BlockDAG’s pre-sale success and is now proudly in its 15th batch. BlockDAG’s coin price has surged 800% since its inception and currently sits at $0.009. Pre-sales alone generated over $32.4 million in revenue and nearly 9.6 billion coins were sold. Meanwhile, Ethereum’s trading volume has surged, strengthening its key role within the cryptocurrency market. Likewise, SHIB shows a promising future, with seasoned investors realizing significant…