Author: Coin Viz

Changpeng Zhao, co-founder of Binance, is set to be released from US custody on Sept. 29, according to the US Federal Bureau of Prisons website. Zhao is currently serving a four-month sentence and was recently transferred to the Long Beach Residential Reentry Management (RRM) facility in central California. RRMs serve as local federal prison liaisons, assisting inmates nearing release by working with federal courts, the US Marshals Service, and local corrections. Zhao’s legal issues Zhao’s legal issues began in November when he and Binance pleaded guilty to breaking US federal laws. The allegations included Zhao’s failure to implement an effective…

There has been a notable drop in the total number of Bitcoin transactions in the past week. Between Sept. 8 and Sept. 11, it decreased from 909,000 to 412,000, showing a market cooldown. This sharp decline aligns with a noticeable drop in network activity, likely influenced by an overall reduction in trading volume after several days of saturation. However, with the total number of transactions recovering to around 712,000 by Sept. 15, we can see that Bitcoin’s break above $59,000 reignited some stagnant trading volume. Graph showing the total number of Bitcoin transactions from Sep. 1 to Sep. 15, 2024…

The DLT Science Foundation (DSF) announced the launch of the MiCA Crypto Alliance on Sept. 16, with Hedera, Ripple, and the Aptos Foundation as founding members, according to a statement shared with CryptoSlate. The Markets in Crypto Assets (MiCA) regulation, recently approved by the European Union, aims to create a regulated digital asset environment that protects crypto users while promoting innovation. Standardized reporting MiCA sets strict disclosure requirements for Crypto-Asset Service Providers (CASPs), including centralized exchanges. These providers must disclose the climate impact of their operations and must share this data through white papers and online descriptions accessible to the…

Over the last 24 hours, Ethereum declined by 5.41%. Despite the prevailing bearish trend, an analyst predicts a rally. 

Polymarket has accumulated nearly $1 billion in bets on the United States 2024 presidential election winner. Data from the platform currently ranks Vice President Kamala Harris, a Democratic presidential candidate, with a 50% chance of winning, backed by $135 million in wagers. Meanwhile, Republican candidate Donald Trump holds a close 49% chance, with bets totaling nearly $150 million. Crypto’s role in the election has boosted activity on Polymarket, with both candidates showing interest in the sector. Harris’s team has indicated a shift from the current administration’s anti-crypto stance, while Trump has gained favor for his pro-crypto ventures. With the election…

Bitcoin fees have been remarkably stable throughout September, given the sharp spike they experienced in late August. On Aug. 22, fees spiked to 100 BTC ($6.086 million), a significant departure from the typical range of 6 to 9 BTC established in the past two months. This sudden increase pushed the fees-to-reward ratio from 0.018 to 0.167, indicating a brief surge in network activity. This anomaly suggests a temporary event—a sudden rush in transaction volume or network congestion—causing users to pay higher fees to prioritize their transactions. The sharp spike contrasts the otherwise steady fee market we’ve seen since July, indicating…

Crypto investment products experienced a sharp turnaround last week, with inflows reaching $436 million to partly reverse weeks of previous outflows totaling $1.2 billion, according to CoinShares‘ latest weekly report, Despite the influx, ETF trading volumes remained flat at $8 billion, significantly lower than the yearly average of $14.2 billion. What triggered the inflows? James Butterfill, CoinShares’ head of research, attributed the shift to changing market expectations for a potential 50 basis point interest rate cut on Sept. 18. This came after remarks by William Dudley, former president of the Federal Reserve Bank of New York, at the Bretton Woods…

In the past week, spent output profit ratio (SOPR) data showed the market was in a profit-taking phase, influenced mainly by long-term holders. Between Sept. 6 and Sept. 13, Bitcoin’s spike from $53,900 to $60,500 was accompanied by an increased adjusted SOPR (aSOPR), indicating that coins spent during this period were sold at a profit. During the weekend, BTC consolidated around $58,900, which led to a slight dip in aSOPR. This minor decrease indicates a pause in profit-taking rather than a shift towards loss realization. The market appeared to stabilize, hinting at a short-term equilibrium rather than a reversal in…

TRON DAO, the decentralized organization behind the TRON blockchain, announced that the newly formed T3 Financial Crime Unit (T3 FCU) task force has already frozen over $12 million in USDT linked to illicit activities. In a Sept. 16 post on X, TRON DAO stated: “While others didn’t act, the T3 Financial Crime Unit, in collaboration with law enforcement, had already frozen over $12 million in USDT on TRON tied to illicit activities.” While no further details were provided, the organization emphasized that this proactive action strengthens trust and advances the crypto industry by ensuring better security. Last week, TRON DAO…

Circle is looking to extend the use of its USDC stablecoin to the new high-flying Ethereum layer-2 blockchain network, Soneium, according to a Sept. 16 statement shared with CryptoSlate. The move aims to make bridged USDC a integral token for value exchange on Soneium. This will utilize Circle’s Bridged USDC Standard, enabling the deployment of bridged USDC on Ethereum Virtual Machine (EVM)-compatible blockchains. Bridged USDC acts as a proxy for native USDC held on Ethereum. Soneium, developed by Sony Block Solutions Labs, is an Ethereum Layer-2 blockchain that launched in August. The network is designed to be a versatile, general-purpose…