Kategorie: Crypto Markets

Crypto exchange Bitpanda and trading platform CoinMENA have announced a strategic alliance aimed at bolstering the latter’s efficiency.

CoinMENA has operational licenses from the Central Bank of Bahrain and the Dubai Virtual Asset Regulatory Authority (VARA). The platform’s strategic partnership with Bitpanda also seeks to boost the Middle East & North Africa focused crypto entity’s suite of available digital assets products and services.

Market demand

In a comment, CoinMENA co-founders Dina Sam’an and Talal Tabbaa note:

“We are excited to partner with Bitpanda Technology Solutions, an industry leader that shares our commitment to providing top-tier crypto asset trading services. This collaboration will not only enhance trading efficiency but also fulfill one of the most requested features from our users, enabling us to add new crypto assets more rapidly to meet market demands.”

Sam’an also commented on the partnership via a post on X on Aug. 26.

Thrilled to announce our strategic partnership with @Bitpanda_global! Together, we are enhancing trading efficiency and expanding our crypto asset offerings at @CoinMENA. This collaboration marks a significant step forward in our mission to provide users with the most reliable… pic.twitter.com/7nq2YwkFHM

— Dina Sam’an | دينا سمعان (@DinaSaman_) August 26, 2024

Bitpanda will act as a liquidity provider for CoinMENA, enhancing the exchange’s trading efficiency and user experience.

“The MENA region is one of the most ambitious and innovative regions in the world when it comes to crypto assets,” Bitpanda global head Nadeem Ladki, noted. “Bitpanda Technology Solutions provides institutions in the region access to one of the broadest ranges of crypto assets available, in a fully modular way, all with a highly regulated and trusted partner,” Ladki added.

Bitpanda recently partnered with UAE’s RAKBANK to expand the digital assets space in the UAE. The exchange has also joined forces with Coinmotion and struck a major deal with Serie A giants AC Milan.

The post Bitpanda partners with CoinMENA to boost crypto adoption appeared first on CoinJournal.

• SEC has charged Abra with securities violations related to the crypto platform’s Abra Earn program.
• The regulator previously charged Genesis and Gemini crypto exchange over securities violations related to Gemini Earn.

The US Securities and Exchange Commission has charged crypto platform Abra with the offer and sale of unregistered securities.

SEC’s charges filed against Plutus Lending LLC allege that Abra’s retail crypto lending product Abra Earn was offered to US investors. The platform began offering the product in July 2020 and at its peak had nearly $500 million of its $600 million in assets from investors in the US.

SEC alleges Abra operated as unregistered investment compny

According to the SEC, Abra marketed its Earn product promising interest to investors and that the platform used investor funds on various income-generating activities. The effort also helped the company fund interest payments.

The SEC alleges therefore that Abra offered the Earn program as a security, violating the law by operating as an unregistered investment company for two years. Per SEC’s complaint, Abra initiated a halt of its Earn program in the US in June 2023.

“To settle the Commission’s charges, Abra, without admitting or denying the SEC’s allegations, has consented to an injunction prohibiting it from violating the registration provisions of the Securities Act and the Investment Company Act and requiring it to pay civil penalties in amounts to be determined by the court,” the SEC said in a press release.

Abra recently settled with 25 US states for operating in those jurisdictions with licenses. Notably also, the charges relating to Abra Earn are similar to those filed against Genesis and Gemini over the Gemini Earn program in January 2023. Genesis settled with the SEC earlier this year.

Meanwhile, news of SEC’s charges against Abra also come just days after a US judge ruled that the regulator’s lawsuit against Kraken can proceed. The SEC has cases against Binance, Coinbase and Consensys.

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• DOGS launched on exchanges on Aug. 26, with on-chain claims open to millions of Telegram and TON users.
• Services for crypto exchanges such as Binance and Bybit slowed.

Telegram Wallet announced on Monday that the launch of TON-based meme coin Dogs (DOGS) had many crypto exchanges experiencing disruption to their services.

The announcement followed similar updates from Binance and Bybit, top tier exchanges that listed the meme token for trading on Aug. 26.

Telegram Wallet reports disruption amid DOGS launch

DOGS token’s on-chain claims and trading debut saw the Telegram Wallet’s functionality slowed as millions of holders began claiming tokens.

“The $DOGS release has created quite a buzz! Several crypto exchanges, as well as Wallet (albeit partially), are running less smoothly than usual. Our exchange feature is temporarily unavailable, but don’t worry — we’re working hard to resolve this and get everything back to normal soon,” Wallet wrote.

Bybit also provided an update noting resumption of normal service after a brief disruption.

🚨 Service Update: We’re thrilled to announce that our app and web platform are fully operational again!

The temporary disruption occurred due to an unprecedented surge in user activity during the $DOGS token listing.

We understand how important a smooth trading experience is,…

— Bybit (@Bybit_Official) August 26, 2024

Earlier, Binance listed DOGS for trading after adding it to the Launchpool as the 57th project. The exchange added trading pairs for USDT, BNB, FDUSD and TRY.

Binance later provided an update noting that its upgrade of the TON network was taking longer than anticipated “due to unforeseen issues.”

Service Update!

Our $TON network upgrade is taking longer than expected due to unforeseen issues. Rest assured, our team is working diligently to restore normal service as quickly as possible.

Thank you for your understanding!

— Binance (@binance) August 26, 2024

Delays saw Binance suspend deposit and withdrawal for TON – the Open Network token that plummeted after Telegram CEO Pavel Durov’s arrest in France.

DOGS traded around $0.001182, roughly 32% down on the day after debuting at $0.0018.

Meanwhile, TON price was around $5.57, nearly 3% down in the past 24 hours and 18% in the red over the past week

The post DOGS launch impacts crypto exchanges and Telegram Wallet appeared first on CoinJournal.

• Shiba Inu (SHIB) is launching a DAO to give holders a voice in governance.
• The DAO will feature two councils: Charity and Culture & Heritage.
• SHIB’s price is down 82.4% from its 2021 peak, despite growing real-world use.

Shiba Inu (SHIB), the leading meme coin and the 13th-largest cryptocurrency by market capitalization, is preparing to launch its own Decentralized Autonomous Organization (DAO).

Announced by the project’s marketing head “Lucie” on August 25 in a comprehensive post on X, this move marks a pivotal shift in the meme coin’s governance structure, empowering its community with a more significant role in shaping its future.

From a community-driven experiment to a major player in crypto

Shiba Inu, which began as a community-driven meme coin experiment in 2020, has evolved from a modest digital asset into a major player in the cryptocurrency landscape. Created by the enigmatic Ryoshi, Shiba Inu started with no clear purpose other than to test the possibilities of a token driven entirely by its community.

After Ryoshi relinquished control by burning the keys to the token’s supply, the project fell into the hands of volunteer Shytoshi, under whose leadership Shiba Inu has garnered global recognition and substantial market presence.

Introducing a governance model for SHIB holders

The forthcoming DAO will introduce a new governance model where SHIB holders will have a voice in the project’s future direction. This model aims to democratize decision-making within the Shiba Inu ecosystem, giving every holder, regardless of their stake size, a say in key initiatives.

The DAO will be guided by two primary councils: the Charity Council and the Culture & Heritage Council. These councils will oversee community-driven efforts such as charitable outreach and preserving the unique culture of the Shiba Inu community.

In addition to SHIB, other tokens in the Shiba Inu ecosystem, including Bone ShibaSwap (BONE) and Doge Killer (LEASH), will play roles in DAO governance.

BONE holders will focus on education and innovation, while LEASH holders will address inclusivity and transparency within the project.

Shiba Inu (SHIB) price performance

Despite Shiba Inu’s significant achievements, including its integration into everyday transactions through various merchant partnerships, the price of SHIB remains down 82.4% from its all-time high of $0.00008616 recorded in October 2021.

The meme coin’s price has also been affected by recent events, including a major hack of the Indian exchange WazirX, which resulted in substantial losses for SHIB holders.

At press time, SHIB was trading at $0.000015 up 13.8% over the last week as it tries to recover from the recent drop.

As Shiba Inu continues to adapt and expand, its move toward decentralized governance represents a major milestone in its journey from a community experiment to a leading cryptocurrency. The introduction of the DAO is set to enhance the token’s governance, utility, and impact, reaffirming Shiba Inu’s commitment to leveraging the power of decentralized initiatives.

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