Crypto news

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TL;DR Floki Inu (FLOKI) saw a sharp decline of nearly 20%, losing its place among the top 5 meme coins. Despite the drop, some analysts remain optimistic, predicting a possible rally if the token’s price surpasses an important resistance level. FLOKI Bleeds Heavily The price of the popular meme coin Floki Inu (FLOKI) is down almost 20% on a daily scale, currently trading at around $0.0001272. FLOKI Price, Source: CoinGeckoFLOKI’s market capitalization plunged to $1.23...

The iShares Bitcoin Trust (IBIT), issued by BlackRock, the world’s largest asset management firm, just recorded its first day of outflow in almost four months. Data from Farside Investors shows that IBIT investors withdrew $13.5 million from the fund on Thursday, August 29. The last time the BlackRock spot Bitcoin exchange-traded fund (ETF) recorded a negative flow was on May 1, and the outflow amounted to $36.9 million. Since then, the fund has either witnessed inflows or...

The Singapore-based cryptocurrency exchange Crypto.com has partnered with Standard Chartered, the leading multinational banking institution, to offer fiat services to retail users worldwide. According to a press release shared with CryptoPotato, Standard Chartered will provide the exchange with banking and payment solutions to enable the deposits and withdrawals of the United States dollar (USD), the euro (EUR), and the United Arab Emirates Dirham (AED) on the Crypto.com...

The leading Bitcoin layer-2 network, Stacks, has commenced implementing its Nakamoto upgrade, which will enhance functionality and integration with its base blockchain. According to a press release shared with CryptoPotato, Stacks began the Nakamoto Activation Sequence on August 28. The process has four key steps, including the final code delivery, Cycle 92; the upgrade period for network operators; Cycle 93, which entails core developers selecting the final hard fork; and...

Polygon (MATIC) has been experiencing a decline in network activity since the broader crypto market retrace began in March. However, recent data shared by the crypto analytic platform Santiment indicates a potential shift in this trend. Bullish Reversal for Polygon (MATIC)? Polygon’s native token, MATIC, has lost over 17% of its value in the past month alone as it traded mostly below $0.52. Subsequent declines dragged the asset to the press time price of $0.43, but this could...

TL;DR Ripple was ordered to pay a $125 million fine, significantly lower than the US SEC’s initial demand, with both parties able to contend until early October. Lawyer Bill Morgan now sees a reduced chance (45%-55%) of an appeal form the Commision, based on recent case developments and favorable views on Judge Torres’ ruling. The Appeal Seems Less Likely? The latest major development surrounding the lawsuit between Ripple and the US Securities and Exchange Commission (SEC)...

Hong Kong has introduced a sandbox for Project Ensemble, a wholesale central bank digital currency (CBDC) project. This initiative brings the region closer to integrating tokenization within its traditional financial industry. Wholesale CBDCs are designed for use by financial institutions, unlike retail CBDCs, which are meant for the general public’s everyday transactions. Wholesale CBDCs focus on interbank settlements and large-value payments. The sandbox is launched by the Hong Kong...

The X account of French football star Kylian Mbappe was reportedly hacked on August 29, with the attackers posting multiple messages promoting a suspicious cryptocurrency named ‘$MBAPPE.’  The posts, which also included opinions on contentious topics such as the Israel-Palestine conflict, caught the attention of many, leading to significant financial losses for some. Investor Loses Over $1 Million According to data from analytics firm Lookonchain, an unwitting victim of the...

Crypto.com is expanding globally through Retail Services, debuting in the UAE. The collaboration with Standard Chartered provides security and regulatory compliance. Crypto.com, the leading Singapore-based cryptocurrency exchange, announced new global retail services that will enhance crypto transactions for millions of users in over 90 countries. Starting next month, the services will be functioned through Crypto.com’s regional center in Dubai, with backing from Standard Chartered and...