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Vivek Ramaswamy, a pro-crypto US presidential candidate, applauded the court’s ruling to favor Grayscale. He sees the victory as a watershed moment for the US web3 space. In his recent tweet, Ramaswamy criticized the overreach of U.S. regulatory watchdogs, arguing that the court’s ruling now paves the way for domestic Bitcoin (BTC) and blockchain advancement.  Ramaswamy has vowed to eliminate federal regulations that don’t meet the standard set by the Supreme Court’s test, which he believes would foster innovation while keeping it on home soil. The shadow government in D.C. is out of control & the federal courts are our *only* remaining line of defense against the unlawful rogue behaviors of 3-letter government agencies. This decision is strong and clears a path to keep Bitcoin & blockchain innovation in the U.S.… https://t.co/FsykKyQEVG — Vivek Ramaswamy (@VivekGRamaswamy) August 30, 2023 Tesla CEO Elon Musk recently praised Ramaswamy’s appro...

PancakeSwap, a decentralized exchange (DEX), is launching on Base, an Ethereum(ETH) layer 2 scaling network incubated by Coinbase, according to an update on Aug. 30. Initially, this integration will offer PancakeSwap’s swapping and liquidity provision functions. Following that, an upcoming release will introduce the farming feature, permitting users to stake liquidity provider (LP) tokens in exchange for PancakeSwap’s native CAKE tokens. Importantly, users will retain their positions in the original LP tokens. Base is now PancakeSwap’s eighth platform, highlighting the DEX’s multi-chain strategy. While initially established on BNB Chain, the DEX has deployed on several blockchains, including Ethereum, Aptos (APT), Polygon (MATIC) zkEVM, and others. Ready for a game-changer DEX on Base? Everyone’s favorite DEX is now on @BuildOnBase, bringing ultra-low fees, user-friendly Features and setting the stage for DeFi mass adoption Start your Base journey with us ...

Join Our Telegram channel to stay up to date on breaking news coverage Elon Musk’s Social media giant, X (Twitter), was granted a currency transmitter licence in Rhode Island, marking a significant step into financial services and toward the goal of making X an ”everything app” featuring crypto and fiat payments. The currency transmitter license granted by Rhode Island’s regulators empowers Twitter to engage in various financial activities, including facilitating money transfers, enabling digital payments, and even exploring the world of cryptocurrencies. It signals Twitter’s determination to expand beyond its traditional role as a platform for sharing thoughts, news, and updates in 280 characters or less. X in Favourable Position to Venture Into Cryptocurrency Payments The license places X in a favourable position to venture into cryptocurrency payments. The license’s legal framework encompasses traditional fiat currencies and cryptocurre...

Also Read: Robinhood Wallet Now Supports Bitcoin, Dogecoin; Ethereum Swaps Enabled advertisement Armstrong also talked about an upcoming event organized by Coinbase later this year in Malibu, designed to ignite the passion of builders within the crypto ecosystem in his Tweet. The post is a homing light for builders to create new start-up ideas and inspires hungry entrepreneurs looking to leave a mark in the crypto industry. Flatcoin Armstrong starts his ideas with Flatcoin, a groundbreaking digital currency designed to address the volatility and inherent risks of fiat-backed stablecoins. He recognizes the limitations of current stablecoins, which are pegged to traditional currencies and vulnerable to inflation and abrupt price shifts. Flatcoin proposes a decentralized solution, pegging its value to the Consumer Price Index (CPI), a basket of essential goods. Flatcoin holds the potential to mitigate inflation risks and offer a more reliable medium of exchange. A...

Robinhood, the investment platform, announced on Wednesday, Aug. 30, that it has expanded the capabilities of its web3 wallet to include support for Bitcoin(BTC) and Dogecoin(DOGE) networks . Initially launched in September 2022 for a limited set of iOS users, the Robinhood Wallet was built on the Polygon blockchain, and as of March this year, it became available to iOS users in 130 countries. The recent changes come after Robinhood said it had heard from its users that there was a strong desire for additional crypto and blockchain networks to be added to its wallet offerings. Robinhood’s Web3 wallet adds support for Bitcoin and the DOGE network . Previously only Ethereum, Polygon, Arbitrum and Optimism networks were supported. Additionally, the in-wallet transaction feature adds support for the Ethereum network , which was previously only supported… — Wu Blockchain (@WuBlockchain) August 30, 2023 The initial version of the Robinhood Wallet supported Polygon(POL) and Ethe...

Santiment tweeted yesterday that CRV, COMP, IMX, AAVE and YGG recorded spikes in whale activity recently. Technical indicators suggested that CRV, IMX, COMP and AAVE may see their prices break out soon. Meanwhile, YGG was at risk of bringing an end to its positive medium-term trend. The blockchain intelligence platform Santiment revealed in a tweet yesterday that whale activity has spiked during the past 48 hours – impacting the prices of several altcoins in the market. According to the post, a number of altcoins including AAVE, COMP, CRV, IMX and YGG recorded transfers of more than $10 million. Despite varying price performances for these altcoins during the past 24 hours, chart patterns and technical indicators for all 5 of the cryptocurrencies suggested that strong price movements may ensue in the coming 2 weeks. Most notably, CRV showed the most potential for a strong medium-term breakout in the next few days. Whales have opened the week extrem...

The manufacturer of Bitcoin mining machines, Canaan, released financial results for the quarter ending on June 30. The firm’s financial statements report total revenue of $73.9 million, a 33.7% increase compared to the previous quarter. A  surprising turn On Aug. 29, Canaan, which is listed on the Nasdaq, announced the company saw an increase in mining revenue . At the end of the quarter, the computing solutions provider shared that the mining revenue grew to $15.9 million, a 43.4% increase from $11.1 million in Q1 of 2023 and a 105.1% increase from the same period in 2022. The company’s chief financial officer, James Jin Cheng, also quoted a notable 115% increase in cryptocurrency assets on Canaan’s balance sheet, which would include 747 Bitcoins owned by the firm. This increase is likened to two factors, according to the statement: improved uptime and enhanced Bitcoin rewards. At the same time, the second quarter included a net loss for the company of $110.7 million, like...

SEC commissioners Hester Peirce and Mark Uyeda have expressed dissent from the SEC’s lawsuit against Impact Theory. The SEC recently sued Impact Theory for raising nearly $30 million through an alleged unregistered securities offering. The commissioners believe that Impact Theory’s business activities did not fall under the SEC’s jurisdiction. Two of the Securities and Exchange Commission’s (SEC) five commissioners have publicly expressed their disagreement with the agency’s first-ever NFT-related enforcement action. Commissioners Hester Peirce and Mark Uyeda have dissented from the securities regulator’s decision to charge Impact Theory for allegedly raising millions through an unregistered offering of crypto securities. The SEC sued Los Angeles-based entertainment firm Impact Theory for raising $30 million from investors by selling NFTs called Founder’s Keys. The company allegedly encouraged investors to view the purchase of a Founder’s Key as an investment...

Shyoshi Kusama recently released the Shibarium scaling solution’s final update. The lead developer conveyed his gratitude towards the members of Polygon and Unification networks. According to the post, Shibarium has reached over 65,000 wallets and 350,000 transactions. Shytoshi Kusama, the lead developer of the Shiba Inu ecosystem released an official blog post announcing the final update of the layer 2 blockchain scaling solution, Shibarium, on Monday. The lead developer conveyed the team’s gratitude to the blockchain platforms that supported the network including Polygon and Unification, and revealed Shibarium’s milestones of over 65,000 wallets and 350,000 transactions. Following the launch of Shibarium, the layer 2 scaling solution experienced a series of hurdles, causing anxiety among the community. As per reports, over $1.5 million worth of ETH was locked in Shibarium. Subsequently, Kusama published a post clarifying the matter and dismissing the accusa...

Whampoa Group recruited JPMorgan’s Regional Head, Ali Moosa, for its digital bank in Bahrain. The bank received in-principal approval in May 2023 and is set to launch in December. Whampoa Group received a “Golden License” from Bahrain. Whampoa Group, an investment group in Singapore, recruited JPMorgan’s Regional Head Ali Moosa to oversee Singapore Gulf Bank, which is located in Bahrain. The digital bank would offer payment services and settlement for crypto companies, as Bloomberg reported. Moosa became the new Executive Vice Chairman at Singapore Gulf Bank, ending a three-decade career at JPMorgan Chase & Co. as Regional Head and Vice Chairman of the Central and Eastern Europe, Middle East, and Africa businesses. Whampoa Group received in-principle approval in May 2023 from Bahrain, and the bank is set up to launch in December of the same year. Singapore Gulf Bank intends to offer digital banking services such as trading, custody, and asset manageme...

Crypto Community users opt-in for Salmon over Solana projects in a Twitter poll. A total of 44% voted for Salmon, while 43% voted in support of Salmon and Solana. Solana has recently launched many projects and partnerships to bolster activities on the network. Crypto analyst Adam Cochran, in a recent post, asked the Twitter crypto community to decide between Solana and Salmon. In the poll posted on Tuesday, he explained that Salmon refers to cooked Salmon while Solana refers to existing Solana DeFi projects. At the time of writing, the poll garnered close to 1,350 votes, with many users pitching their tent with Salmon. 44% of the users voted that Salmon is good while Solana is meh. However, 43% also cast their support for the two, that both Salmon and Solana are good. The result of the votes mirrors the pervading sentiments about several crypto projects following the prolonged market slowdown. The recent market correction has also infused FUD, causing use...

In an email conversation with crypto.news, a Binance spokesperson discussed the exchange’s risk manage ment approach and confirmed initiating contact with low-market cap altcoin projects. The initiative is part of Binance’s overall strategy to bolster trading activities on its platform and curb risks for its users. Binance aims to enhance liquidity protection Binance has confirmed initiating contact with low-market cap altcoin projects as part of its strategy to bolster trading activities on its platform and curb risks for its users. In the past week, the cryptocurrency exchange reportedly contacted various low-cap altcoin projects listed on its platform. While some observers interpreted the move as a possible hint toward a trading volume crisis, the team has now offered more clarity on the matter.  By reaching out to these low-cap altcoin s, Binance aims to enhance the “liquidity protection” of its customers rather than shoring up trading volumes, a company spokesperson e...