Category: Crypto News

REVISED VERSION Key Announcement: Changes in Polygon Labs’ Framework Strategy Polygon Labs is discontinuing contributions to its Edge framework, formerly known as Supernets, and shifting its focus towards the Chain Development Kit (CDK), a toolkit gaining adoption across various projects. Initially introduced as an open-source tool under the Apache License 2.0, Edge enabled the creation…

Mysten Labs has unveiled a revolutionary method enabling individuals to send and receive cryptocurrency via email, even if the recipient lacks a digital wallet. Founded by five former Facebook engineers two years ago, Mysten Labs aimed to complete projects initiated during their tenure at the social media giant. One of these projects focused on simplifying…

In a recent CNBC interview, Securities and Exchange Commission (SEC) Chair Gary Gensler discussed the agency’s reconsideration of spot bitcoin exchange-traded fund (ETF) applications, emphasizing the influence of recent court rulings. Historically, the SEC has consistently rejected applications for spot bitcoin funds. However, a pivotal moment occurred when a panel of judges, responding to a…

SUMMARY Bitcoin saw a nearly 3% rise on Wednesday as the Federal Reserve maintained interest rates within the anticipated range of 5.25%-5.50%. Concurrently, major stock indices posted gains in early afternoon trading following the Fed’s announcement. The Federal Open Market Committee adhered to analysts’ expectations, keeping the benchmark federal funds rate unchanged for the fourth…

SUMMARY SEC Chair Gary Gensler dismissed inquiries about cryptocurrency during a post-meeting discussion on the U.S. Treasury market. Following a reporter’s question regarding the status of spot bitcoin ETF applications, Gensler emphasized the significance of the $26 trillion Treasury market in supporting the nation’s capital markets, funding the government, and shaping monetary policy. He underscored…

LATEST DEVELOPMENT UPDATE Pudgy Penguins, a prominent NFT project, recently revealed the next phase of its evolution: Pudgy World, a Web3 game leveraging the Ethereum Layer 2 network zkSync Era. Described as an “immersive, digital environment,” this new venture marks a significant stride for the popular NFT brand. The announcement comes amid a period of…

In a quick overview, VanEck envisions the long-awaited U.S. recession arriving in 2024, while still foreseeing approvals for spot bitcoin ETFs and the halving event propelling bitcoin to record highs by Q4. Other predictions from the investment manager for the upcoming year include the absence of an “ether flippening,” Solana’s continued outperformance, a notable resurgence…

Fidelity engaged in discussions with the Securities and Exchange Commission (SEC) on December 7 regarding its proposed spot bitcoin ETF, as outlined in a memo on the regulator’s official website. The asset management giant presented the SEC with a comprehensive overview titled “Bitcoin ETF Workflows,” encompassing slides that elucidate “In-Kind” creation and redemption models. The…

SUMMARY Terraform Labs, the entity behind the unsuccessful Terra stablecoin (UST) and LUNA cryptocurrency, has requested a New York judge to allow a jury to determine the regulatory status of the UST and LUNA tokens. The Securities and Exchange Commission (SEC) opposes this, insisting that the judge should decide. The SEC filed a lawsuit against…

BRIEF OVERVIEW JPMorgan Chase CEO Jamie Dimon, known for his outspoken criticism of cryptocurrency, asserted that he would shut down crypto if he held a government position. Responding to Sen. Elizabeth Warren’s inquiries about anti-money laundering concerns during a Senate Banking Committee hearing, Dimon reiterated his long-standing opposition to crypto, including bitcoin, citing its potential…