Blockchain industry update (BitFlyer, Binance, Huobi, APY Finance)

This week’s lot of announcement form DiFi and Funding and many more, explore more in the below article. Comments from Taras Filatov – CEO

::Crypto::

  • BitFlyer integrates with PayPal for easy access to Bitcoin. The European branch of the giant Japanese exchange now allows users to buy and sell cryptocurrency via PayPal.
  • Venezuela legalizes crypto mining but will force the industry into a national pool. 

::Announcement::

  • Beijing sees digital currencies as a ‘new battlefield’ in global finance. China’s central bank aims to challenge the global financial status quo.
  • DeFi Aggregator Cream Finance announces creamY, an efficient & dynamic automated market maker.
  • Binance creates  ‘Innovation Zone’ to let only select users trade new DeFi tokens.
  • Huobi Global has issued its HT token on the TRON blockchain’s TRC-20 protocol, entering it into the network’s DeFi platform SUN. IO’s observation list.
  • World’s First Bitcoin ETF approved with an expected launch in Bermuda by end of the year.
  • Digital Euro will strengthen payment systems says Christine Lagarde.
  • Binance reveals new Defi entrants on BinanceSmartChain. The exchange lists BinanceSmartChain Projects, Bakery Token – BAKE and BurgerSwap – BURGER, in the Innovation Zone.
  • Spikes in gas prices slowing growth of new NFT marketplaces. High gas prices have become a problem for non-fungible token marketplaces, especially as they look to mint at scale.
  • Chinese state TV just shilled DeFi and Ethereum to hundreds of millions of users. The segment purportedly covered how digital assets are the best-performing asset class year to date.

::Launch::

  • ACDX launches on the 29th of September. ACDX is an emerging exchange with a star-studded core team with a track record of success, primarily focused on becoming a leading marketplace for crypto derivatives trading.
  • Huobi crypto exchange launches a trading app in Russia. Russian users account for as much as 10% of Huobi’s total spot trading volume.
  • Gemini, crypto exchange of the Winklevoss brothers, launches in the United Kingdom.
  • Huobi Global launches trading in HUSD Stablecoin. The cryptocurrency exchange has made the move following trading demand from users.

::Funding / Investment::

  • APY Finance, an automated yield farming platform, raised $3.6 million in funding from leading investors.
  • Valentus Capital, a private equity investment firm based in the U.S., is planning to raise $50 million for its first fund via a token sale.
  • Liquity, a Ethereum-based lending protocol, has raised $2.4 million in seed funding in a round led by cryptocurrency investment firm Polychain Capital.
  • Maker has regained its position as the top asset holding dapp with more than $1.9 billion of ethereum based assets now in DAI. That’s an all-time high, with it rising from $1.2 billion just two weeks ago.

::Governance::

  • The US Office of the Comptroller of the Currency has given the green light for national banks and federal savings associations to hold reserves for stablecoin issuers.
  • India seeks a full ban on crypto trading again. A potential ban will set the country behind.
  • The European Central Bank seeks to eliminate stablecoins, accelerate digital euro plans.
  • Bithumb for sale following numerous police raids. Local news outlets reveal that the price is in the range between $430 and $600 million.
  • Russia proposes up to 3 years of jail for undeclared crypto wallets. Russia’s Finance Ministry has prepared a new bill that would force crypto holders to declare their wallets.
  • Federal Reserve Bank reveals details about ongoing research into a potential digital dollar.
  • European Union to create “Legal Certainty” for cryptocurrencies and blockchain companies. Regulations proposed this week frame the legality of digital assets and cryptocurrencies in the EU.
  • Russia’s telecom regulator blacklists Binance website. The website of the Binance exchange is still available without additional access tools, platform says crypto funds are safe.
  • Israeli politicians want to recognize Bitcoin as currency, not asset.
  • The Central Bank of the Bahamas announced that on October 20 it will begin the “gradual national release” of its consumer-facing “Sand Dollar” digital currency, perhaps the world’s first retail CBDC.
  • US lawmakers are planning to amend the Security Act to provide more clarity on crypto regulations.
  • The Federal Reserve Board of Governors and several Federal Reserve Banks are actively working on the digital dollar.

::Others::

  • Cryptocurrency ETP volumes continue to drop as long-term investors look for safer options during Bitcoin’s dry spell.
  • Tether’s dominance over stablecoins dips below 80% for the first time in years.
  • Kucoin have been hacked for $150 million in bitcoin and multiple ERC20 tokens. Bitfinex issuer of the centralized stablecoin USDT, immediately froze a combined $33 million worth of USDT suspected to be part of the funds looted in the Kucoin hack.

Credit: Telegram VYSYN – Capital News 

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Mansi Nashte
Articles: 57

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