Bitcoin quotes fixed above $29,000, Binance announced the launch of a local branch in Kazakhstan, Bybit announced that it would introduce mandatory user verification, and other events of the outgoing week.
Bitcoin fixes above $29,000
On Wednesday, April 26, the quotes of the first cryptocurrency broke through the $29,000 level and at the moment overcame the $30,000 mark, but failed to gain a foothold above it – there was a correction below $27,500.
However, on Thursday the price recovered. At the time of writing, bitcoin is trading near $29,800. Over the past day, quotes have grown by almost 2%.
At the end of the week, almost all digital assets from the top 10 by capitalization were in the “green zone”. Bitcoin showed the best dynamics – quotes grew by almost 7%.
The total capitalization of the cryptocurrency market has grown to ~$1.27 trillion. The Bitcoin dominance index rose to 45.4%.
Bybit tightens KYC requirements
On May 8, the Bybit crypto exchange will introduce mandatory verification for all users of the platform. Compliance level KYC must be at least the first. Otherwise, customers will lose access to the products and services of the exchange.
In a comment to Cryplogger, a company representative said the changes are being made to improve security. The measure will not only comply with regulatory requirements, but also provide an additional layer of protection against fraudsters.
Binance commented on the blocking of crypto cards for Russians living in the EU and announced the launch of a bitcoin exchange in Kazakhstan
A number of media outlets, citing users of the Binance bitcoin exchange, reported that the platform allegedly began blocking Russian crypto cards. According to widespread information, this affected clients who passed verification with a Russian passport and received a physical card on the basis of a residence permit in the European Union.
In a comment to Cryplogger, Binance representatives said that at the moment there are no restrictions on the use of a crypto card for users with a valid residence permit in the EEA.
The regional director of the company, Vladimir Smerkis, said that Binance plans to launch a local branch in Kazakhstan by mid-2023. The platform will be able to offer exchange and conversion services, deposits and withdrawals of fiat currencies, storage of cryptocurrency assets and exchange trading.
In June of this year, the company will also launch a Japanese division based on the previously acquired regulated Sakura Exchange BitCoin.
In turn, the head of Binance, Changpeng Zhao, ranked third in the ranking of “25 financial titans” according to Bloomberg. According to the publication’s calculations, the annual income of the largest crypto exchange exceeds $12 billion, its capital was estimated at $28.2 billion.
Zhao said that “all the figures are wrong” and that he “does not even have close to much” funds.
Opinion: StarkNet roadmap sets the stage for 2024 airdrop
Startup StarkWare, developing L2 solutions, presented the StarkNet roadmap with a focus on performance and user experience in 2023, in 2024 – on the decentralization of operations and decision making. Journalist Colin Wu saw in the document signs of preparations for the release of a utility token and an airdrop.
LayerZero has announced an integration with Polygon’s zkEVM. And Polygon developers launched a bridge with zkEVM
The developers of the LayerZero omnichain protocol have announced an integration with the zkEVM solution for Ethereum scaling.
Polygon Labs has launched a cross-chain bridge that links the Polygon and zkEVM blockchains. It is based on zero-knowledge proof technology. It can take 30-60 minutes to transfer funds to Ethereum.
Funding in liquid staking protocols close to $18 billion
General TVL liquid staking protocols reached $17.81 billion, surpassing DEX for the first time, according to data from DeFi Llama. Liquidity volumes in Lido, Rocket Pool, and Frax Ether have increased by 10.54%, 25.13%, and 36.45%, respectively, over the past month. This indicates an increase in interest in the segment after the activation of the Shapella hard fork in the Ethereum network.
What to discuss with friends?
- An Ethereum ICO participant moved coins for the first time in almost 8 years, and a bitcoin whale distributed 400 BTC after 12 years of hibernation.
- The co-founder of Dogecoin compared the passion for cryptocurrencies with insanity.
- The expert discovered the address that created 114 “fraudulent” meme tokens.
- A bitcoin enthusiast picked up a seed phrase from known words in half an hour.
The media reported a search in the house of a former FTX top manager
Employees FBI allegedly raided the home of former FTX executive and CEO of the company’s Bahamian branch, Ryan Salame.
According to the journalists of The New York Times, we are talking about a residence in the Potomac (Maryland, USA). What served as the official reason for the investigative measures is not specified. However, the interlocutors of the publication noted that Salameh was “under scrutiny” of law enforcement officers because of the donation of $ 24 million in support of the Republicans.
It also became known that the US authorities will install a tracker on the phone of Sam Bankman-Freed.
Brian Armstrong struck by Gary Gensler’s old saying
In 2018, the current head SEC Gary Gensler called three-quarters of the cryptocurrency market “non-securities.” Coinbase CEO Brian Armstrong commented on the old video with one word – “wow.”
The official, in turn, said that according to the legislation, cryptocurrencies are investment contracts, and the platforms offering them must register with the SEC.
Uniswap Unveils Solutions to Reduce Protocol Overhead
The Uniswap decentralized exchange team has created a new Permit2 approval mechanism that allows smart contracts to move tokens on behalf of users.
Permit2 will allow network participants to set their own permissions and approve the transfer of tokens with a single signature. Development also significantly reduces commissions.
Avalanche developers implemented Cortina hard fork
On April 25, the Avalanche platform team successfully activated the Cortina hard fork on the main network of the project.
The update included the migration of one of the three major blockchains, X-Chain, to the Snowman++ consensus mechanism. This provided the integration of the Avalanche Warp Messaging messaging service, the implementation of complex transactions, and broader exchange support.
South Korea charges co-founder of Terraform Labs with criminal charges
South Korean prosecutors have filed charges against Terraform Labs co-founder Daniel Shin and nine of the company’s employees, including fraud and violations of capital markets law.
According to law enforcement officers, the defendants in the case initially knew that the mechanism for maintaining the price of the algorithmic stablecoin TerraUSD (UST) using the LUNA token did not work.
At the same time, lawyers for the head of Terraform Labs, Do Kwon, sent a request to the US court to cancel the charges brought by the SEC. According to lawyers, the Commission was unable to prove the involvement of the case in US jurisdiction. The products referred to by the regulator were “available to the whole world and not just for Americans,” they said.
The appeal also said that UST does not fall within the jurisdiction of the agency, because it is a currency, not a security.
Circle launches USDC transfer solution between Ethereum and Avalanche
Circle, the co-issuer of USD Coin (USDC), launched the CCTP protocol on the main network to move the stablecoin between blockchains. Initially, the solution was implemented for Ethereum and Avalanche.
When a transfer is requested, CCTP burns the amount of USDC specified by the user on the source network and releases the same number of coins to the user’s wallet on the destination blockchain.
Hong Kong to introduce new licensing rules for crypto exchanges
The Hong Kong Securities and Futures Commission will issue guidance on the licensing regime for digital asset trading platforms in May, regulator chief Julie Leung said.
Also on Cryplogger:
- Gemini will launch a crypto derivatives platform outside the US.
- Arbitrum initiated the distribution of tokens among the DAO.
- Ray Dalio Says Bitcoin Holders Should Be Prepared for an 80% Drop in Bitcoin
- First NFT issuer registered in Uzbekistan
What else to read?
On April 13, the DAO Tokyo conference took place in Tokyo, dedicated to issues related to the technologies underlying decentralized autonomous organizations.
Specially for Cryplogger Web3-journalist Tamara Soykina prepared a report from the event.
Experts from the law firm DRC told Cryplogger whether the purchase of a non-fungible token can be considered an investment.
Traditional digests collected the main events of the week in the fields of cybersecurity and artificial intelligence.
On the last day of April, Cryplogger prepared a traditional calendar of important events for the next month.
The cryptocurrency industry is attracting an increasing number of institutional players. This is evidenced by new investments in infrastructure, and the increasing attention that companies are showing to bitcoin as an asset class. The most important events of recent weeks are in the Cryplogger review.
Found a mistake in the text? Select it and press CTRL+ENTER
Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!
Bitcoin quotes fixed above $29,000, Binance announced the launch of a local branch in Kazakhstan, Bybit announced that it would introduce mandatory user verification, and other events of the outgoing week.
Bitcoin fixes above $29,000
On Wednesday, April 26, the quotes of the first cryptocurrency broke through the $29,000 level and at the moment overcame the $30,000 mark, but failed to gain a foothold above it – there was a correction below $27,500.
However, on Thursday the price recovered. At the time of writing, bitcoin is trading near $29,800. Over the past day, quotes have grown by almost 2%.
At the end of the week, almost all digital assets from the top 10 by capitalization were in the “green zone”. Bitcoin showed the best dynamics – quotes grew by almost 7%.
The total capitalization of the cryptocurrency market has grown to ~$1.27 trillion. The Bitcoin dominance index rose to 45.4%.
Bybit tightens KYC requirements
On May 8, the Bybit crypto exchange will introduce mandatory verification for all users of the platform. Compliance level KYC must be at least the first. Otherwise, customers will lose access to the products and services of the exchange.
In a comment to Cryplogger, a company representative said the changes are being made to improve security. The measure will not only comply with regulatory requirements, but also provide an additional layer of protection against fraudsters.
Binance commented on the blocking of crypto cards for Russians living in the EU and announced the launch of a bitcoin exchange in Kazakhstan
A number of media outlets, citing users of the Binance bitcoin exchange, reported that the platform allegedly began blocking Russian crypto cards. According to widespread information, this affected clients who passed verification with a Russian passport and received a physical card on the basis of a residence permit in the European Union.
In a comment to Cryplogger, Binance representatives said that at the moment there are no restrictions on the use of a crypto card for users with a valid residence permit in the EEA.
The regional director of the company, Vladimir Smerkis, said that Binance plans to launch a local branch in Kazakhstan by mid-2023. The platform will be able to offer exchange and conversion services, deposits and withdrawals of fiat currencies, storage of cryptocurrency assets and exchange trading.
In June of this year, the company will also launch a Japanese division based on the previously acquired regulated Sakura Exchange BitCoin.
In turn, the head of Binance, Changpeng Zhao, ranked third in the ranking of “25 financial titans” according to Bloomberg. According to the publication’s calculations, the annual income of the largest crypto exchange exceeds $12 billion, its capital was estimated at $28.2 billion.
Zhao said that “all the figures are wrong” and that he “does not even have close to much” funds.
Opinion: StarkNet roadmap sets the stage for 2024 airdrop
Startup StarkWare, developing L2 solutions, presented the StarkNet roadmap with a focus on performance and user experience in 2023, in 2024 – on the decentralization of operations and decision making. Journalist Colin Wu saw in the document signs of preparations for the release of a utility token and an airdrop.
LayerZero has announced an integration with Polygon’s zkEVM. And Polygon developers launched a bridge with zkEVM
The developers of the LayerZero omnichain protocol have announced an integration with the zkEVM solution for Ethereum scaling.
Polygon Labs has launched a cross-chain bridge that links the Polygon and zkEVM blockchains. It is based on zero-knowledge proof technology. It can take 30-60 minutes to transfer funds to Ethereum.
Funding in liquid staking protocols close to $18 billion
General TVL liquid staking protocols reached $17.81 billion, surpassing DEX for the first time, according to data from DeFi Llama. Liquidity volumes in Lido, Rocket Pool, and Frax Ether have increased by 10.54%, 25.13%, and 36.45%, respectively, over the past month. This indicates an increase in interest in the segment after the activation of the Shapella hard fork in the Ethereum network.
What to discuss with friends?
- An Ethereum ICO participant moved coins for the first time in almost 8 years, and a bitcoin whale distributed 400 BTC after 12 years of hibernation.
- The co-founder of Dogecoin compared the passion for cryptocurrencies with insanity.
- The expert discovered the address that created 114 “fraudulent” meme tokens.
- A bitcoin enthusiast picked up a seed phrase from known words in half an hour.
The media reported a search in the house of a former FTX top manager
Employees FBI allegedly raided the home of former FTX executive and CEO of the company’s Bahamian branch, Ryan Salame.
According to the journalists of The New York Times, we are talking about a residence in the Potomac (Maryland, USA). What served as the official reason for the investigative measures is not specified. However, the interlocutors of the publication noted that Salameh was “under scrutiny” of law enforcement officers because of the donation of $ 24 million in support of the Republicans.
It also became known that the US authorities will install a tracker on the phone of Sam Bankman-Freed.
Brian Armstrong struck by Gary Gensler’s old saying
In 2018, the current head SEC Gary Gensler called three-quarters of the cryptocurrency market “non-securities.” Coinbase CEO Brian Armstrong commented on the old video with one word – “wow.”
The official, in turn, said that according to the legislation, cryptocurrencies are investment contracts, and the platforms offering them must register with the SEC.
Uniswap Unveils Solutions to Reduce Protocol Overhead
The Uniswap decentralized exchange team has created a new Permit2 approval mechanism that allows smart contracts to move tokens on behalf of users.
Permit2 will allow network participants to set their own permissions and approve the transfer of tokens with a single signature. Development also significantly reduces commissions.
Avalanche developers implemented Cortina hard fork
On April 25, the Avalanche platform team successfully activated the Cortina hard fork on the main network of the project.
The update included the migration of one of the three major blockchains, X-Chain, to the Snowman++ consensus mechanism. This provided the integration of the Avalanche Warp Messaging messaging service, the implementation of complex transactions, and broader exchange support.
South Korea charges co-founder of Terraform Labs with criminal charges
South Korean prosecutors have filed charges against Terraform Labs co-founder Daniel Shin and nine of the company’s employees, including fraud and violations of capital markets law.
According to law enforcement officers, the defendants in the case initially knew that the mechanism for maintaining the price of the algorithmic stablecoin TerraUSD (UST) using the LUNA token did not work.
At the same time, lawyers for the head of Terraform Labs, Do Kwon, sent a request to the US court to cancel the charges brought by the SEC. According to lawyers, the Commission was unable to prove the involvement of the case in US jurisdiction. The products referred to by the regulator were “available to the whole world and not just for Americans,” they said.
The appeal also said that UST does not fall within the jurisdiction of the agency, because it is a currency, not a security.
Circle launches USDC transfer solution between Ethereum and Avalanche
Circle, the co-issuer of USD Coin (USDC), launched the CCTP protocol on the main network to move the stablecoin between blockchains. Initially, the solution was implemented for Ethereum and Avalanche.
When a transfer is requested, CCTP burns the amount of USDC specified by the user on the source network and releases the same number of coins to the user’s wallet on the destination blockchain.
Hong Kong to introduce new licensing rules for crypto exchanges
The Hong Kong Securities and Futures Commission will issue guidance on the licensing regime for digital asset trading platforms in May, regulator chief Julie Leung said.
Also on Cryplogger:
- Gemini will launch a crypto derivatives platform outside the US.
- Arbitrum initiated the distribution of tokens among the DAO.
- Ray Dalio Says Bitcoin Holders Should Be Prepared for an 80% Drop in Bitcoin
- First NFT issuer registered in Uzbekistan
What else to read?
On April 13, the DAO Tokyo conference took place in Tokyo, dedicated to issues related to the technologies underlying decentralized autonomous organizations.
Specially for Cryplogger Web3-journalist Tamara Soykina prepared a report from the event.
Experts from the law firm DRC told Cryplogger whether the purchase of a non-fungible token can be considered an investment.
Traditional digests collected the main events of the week in the fields of cybersecurity and artificial intelligence.
On the last day of April, Cryplogger prepared a traditional calendar of important events for the next month.
The cryptocurrency industry is attracting an increasing number of institutional players. This is evidenced by new investments in infrastructure, and the increasing attention that companies are showing to bitcoin as an asset class. The most important events of recent weeks are in the Cryplogger review.
Found a mistake in the text? Select it and press CTRL+ENTER
Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!
