Tokens Financial News

cryptocurrencies native to projects built on top of «layer 1» blockchains such as Bitcoin and Ethereum — have found a new lease of life after a year in the doldrums, buoyed by a rising crypto tide. Anticipation of easing U.S. borrowing costs and a possible U.S. spot bitcoin exchange-traded fund have lifted crypto prices since the summer, with market bitcoin gaining by about half since the end of August. Tokens associated with layer 2 projects — which typically aim to speed up transactions and cut costs — have a combined market cap of about $14.3 billion, about a tenth of the total crypto market, according to data from CoinMaketCap.com. Matic, the largest layer 2 token with a market cap of $6.90 billion, has jumped 20% to $0.74 over the past 30 days, according to CoinGecko. It's used on Polygon, a platform that reduces congestion on the Ethereum network.

Origin Protocol token holders have voted to merge the protocol’s lesser known token Origin DeFi Governance “OGV” with its native decentralized finance (DeFi) Ethereum token OGN.

Crypto exchange leader Binance announced on February 19 that it will discontinue support for leveraged trading of six tokens and subscription services.

London-based crypto trading firm Copper plans to start offering tokenized securities early next year, according to reports on Nov. 29. Under the leadership of former British Chancellor Phillip Hammond, the company expects to capitalize on institutional investors' demand.

Around $750 million of vested digital assets are scheduled to be unlocked and released into the markets in December.

Users have concerns about centralized exchanges’ transparency and trustworthiness, but decentralized alternatives lack liquidity and security. Crypto exchange Phemex, celebrating its 4th year anniversary this week, is poised to usher in a new era, where traditional barriers in finance are dismantled and users have unprecedented control over their assets and financial destinies.

The Fantom Foundation, a nonprofit organization developing the Fantom blockchain platform, has eliminated a significant vulnerability after a $550,000 hack in October.

Decentralized crypto exchange dYdX has disclosed new measures to mitigate trading-related risks after burning $9 million of its insurance fund on Nov. 17 to cover users’ losses.

Lee Jeong-hoon, the former chair of Bithumb, one of South Korea’s major cryptocurrency exchanges, is at the center of a legal battle and might face an eight-year prison sentence, with a verdict scheduled for Jan. 18, 2024.

The Singapore-based BSN Foundation, a global blockchain infrastructure organization, officially announced its launch with five international founding members on Nov. 16.

The Philippines Bureau of the Treasury announced it would offer 10 billion pesos ($179 million) of one-year tokenized treasury bonds for the first time after canceling the traditional auction scheduled for Nov. 20.

Binance Labs, the venture capital arm and incubator arm of Binance, said on Nov. 15 that it has invested in Arkham (ARKM), the native token of the “deanonymizing” blockchain platform Arkham.

The Monetary Authority of Singapore (MAS) has introduced five additional industry pilots to Project Guardian to test various use cases around asset tokenization. 

The Australian Taxation Office (ATO) has issued guidance on capital gains tax (CGT) treatment of decentralized finance (DeFi) and wrapping crypto tokens for individuals, clarifying its intent to continue taxing Australians on capital gains when wrapping and unwrapping tokens.

The Indian Supreme Court declined to consider a Public Interest Litigation (PIL) that aimed to establish regulations and a framework of guidelines for cryptocurrency trading in India.

One of the Big Four banks in the U.K., Lloyds Bank, has said that reports of cryptocurrency investment scams by victims have surged by 23% in the current year compared to the same period in 2022.

Cryptocurrency enthusiasts often argue that businesses need to start accepting crypto as payments for adoption to grow — boosting usability and potentially creating strong demand for these currencies.

For an extended period, centralized exchanges (CEXs) have played a pivotal role in cryptocurrency trading, offering traders dependability and robust liquidity. These platforms have been the go-to choice, with users trusting CEXs to safeguard their assets, appreciating user-friendly interfaces, and benefiting from an ever-evolving array of innovative features.

Several attendees of Yuga Labs’ ApeFest event on Nov. 4 in Hong Kong reported eye-related issues, including burns, damaged vision and “extreme pain” in their eyes.

The Securities and Futures Commission (SFC) of Hong Kong laid down the business requirements for offering tokenized securities and other investment products in a circular released Nov. 2.

Should the current rate of adoption continue, blockchain technology could have 100 million daily users by 2028, according to projections by Bloomberg Intelligence analyst Jamie Coutts.