Kategorie: Crypto News

Daily crypto headlines and news about bitcoin, ether, ripple, solana, altcoins, nft, market, business, analysis, nft, metaverse, minting and mining.
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Bitwise expands into Europe with acquisition of ETC Group

  • Bitwise acquires ETC Group, expanding into Europe with $4.5B in crypto AUM.
  • ETC Group’s products will rebrand under Bitwise but there will be no changes to strategies.
  • Bitwise anticipates a shift in crypto with the introduction of spot Bitcoin ETFs.

In a strategic move to broaden its global footprint, Bitwise, the largest crypto index fund manager in the United States, has acquired London-based ETC Group, a prominent issuer of crypto exchange-traded products (ETPs).

This acquisition, announced on August 19, 2024, marks Bitwise’s significant expansion into the European market, adding more than $1 billion in assets under management (AUM) to its portfolio and bringing the firm’s total AUM to over $4.5 billion.

ETC Group acquisition gives Bitwise a foothold in Europe

Founded in 2019, ETC Group has established itself as a key player in the European crypto market, offering a range of ETPs, including those based on Bitcoin, Ethereum, Solana, and Ripple. These products will be rebranded under the Bitwise name in the coming months, although the firm has assured that there will be no material changes to the construction or objectives of the existing ETC investment strategies.

Bitwise views this expansion as a pivotal moment in its growth strategy, particularly as it anticipates a dramatic shift in the crypto landscape with the introduction of spot Bitcoin ETFs. According to the CEO of Bitwise, Hunter Horsley, the acquisition allows the company “to serve European investors, offer clients global insight, and expand the product suite with innovative ETPs.”

Bitwise’s move into Europe comes on the heels of several successful product launches in the US, including the Bitwise Bitcoin ETF and the Bitwise Ethereum ETF, which have collectively attracted over $2 billion in assets since their inception earlier this year.

The acquisition also aligns with Bitwise’s prediction of a surge in institutional investment in crypto ETFs, as major financial institutions increasingly offer these products to their clients.

As Bitwise integrates ETC Group into its operations, the firm is poised to capitalize on the growing demand for digital assets across both sides of the Atlantic, further solidifying its position as a leading force in the crypto investment space.

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Binance to support Frontier (FRONT) token swap and rebranding

  • Binance announces support for Frontier token swap and rebranding to Self Chain (SLF).
  • FRONT price surged 20% following the rebranding announcement by Binance.
  • SLF trading pairs to replace FRONT pairs on Binance from August 30, 2024.

Binance, a leading cryptocurrency exchange, has announced its support for the token swap and rebranding of Frontier (FRONT) to Self Chain (SLF).

This strategic move by Binance marks another significant step in its ongoing efforts to support the evolution and restructuring of altcoin projects. The news has already triggered a notable surge in FRONT’s price and trading volumes, reflecting growing investor interest and confidence.

Binance approves Frontier (FRONT) name change

In an announcement issued on August 27, 2024, Binance has confirmed its support for the Frontier token swap and rebranding, renaming it as Self Chain (SLF).

This decision is part of Binance’s broader strategy to foster innovation and support altcoin projects through critical phases like rebranding and restructuring.

As part of this transition, Binance will delist all existing FRONT spot trading pairs, including FRONT/BTC, FRONT/TRY, FRONT/USDC, and FRONT/USDT, on 2024-08-27 03:00 (UTC), to pave the way for the new SLF trading pairs.

The new pairs, SLF/BTC, SLF/TRY, SLF/USDC, and SLF/USDT, will become available for trading on August 30, 2024.

Market impact

The announcement had an immediate impact on the price of Frontier’s native token, which surged by 20% after the announcement.

Within minutes, the price jumped from $0.64 to $0.8188, before stabilizing at $0.7216 at press time. This surge was accompanied by a significant increase in both market volume, which exceeded $68 million, and trading volume, which saw a 187% rise to over $31.9 million.

Binance’s positive recovery from last year’s uncertainties, marked by increased transparency and a renewed focus on aligning with institutional policies, has reinforced its position as a key player in the crypto industry and its support for the Frontier (FRONT) token swap and rebranding is a significant development for the altcoin.

The post Binance to support Frontier (FRONT) token swap and rebranding appeared first on CoinJournal.

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Russia’s largest search engine Yandex bans crypto ads

  • Yandex bans ads for crypto exchanges, smart contracts, mining, and ICOs in Russia.
  • Ads for mining equipment, educational content, and legal advice are however exempted.
  • Yandex will allow crypto ads outside Russia with strict compliance to local regulations.

In a significant shift reflecting stringent regulatory measures in Russia, Yandex, the country’s largest search engine, has updated its advertisement policy to prohibit ads related to cryptocurrency.

The new policy, which takes effect immediately, aligns Yandex’s operations with recent legislative changes enacted by President Vladimir Putin.

Crypto exchanges, mining operations, and ICO ads banned

Under the updated policy, Yandex has imposed a broad ban on advertisements for crypto exchanges, blockchain services, smart contracts, mining operations, and ICOs. This also extends to any promotional content related to earnings from these activities and services that check crypto wallets and transactions for money laundering.

The decision underscores Yandex’s commitment to adhering to Russia’s strict regulations governing cryptocurrency advertising.

However, the new rules do allow for certain exceptions. Advertisements for physical equipment used in crypto mining and storage, educational content, training materials, and events related to cryptocurrency, mining, and ICOs are still permitted. Additionally, Yandex will allow ads for legal consultations concerning crypto matters.

This nuanced approach ensures that while the platform curtails promotional activities related to cryptocurrency investments, it continues to support educational and legal aspects associated with the sector.

For regions outside of Russia, Yandex maintains a more lenient stance on crypto advertising, though ads must comply with local regulations and Yandex’s policies, including prohibitions on guaranteeing earnings and claiming risk-free transactions.

This international flexibility contrasts with the stricter domestic regulations, highlighting the varying global landscape for crypto-related advertising.

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HashKey Group taps TON mini-game Catizen as first Web3 partner

  • HashKey Group and Telegram mini-game Catizen have announced a partnership, with Catizen teh first official Web3 partner.
  • The Asia-based firm will leverage the TON blockchain.

HashKey Group has announced Catizen, a Telegram mini-game platform on the TON blockchain, as its first Web3 partner.

The company will use the partnership to bolster Catizen’s Web3 gaming ecosystem, providing the mini-game’s over 29 million users a more compliant and reliable digital experience.

With the partnership announced on August 19 in place, users are set to benefit from gamified digital finance, airdrop campaign and other initiatives.

HashKey Group said in a press release that the company will tap into TON blockchain’s technology to bring these goals into action, targeting further growth within the GameFi and digital entertainment infrastructure market.

“As a phenomenal product in the GameFi sector in 2024, Catizen offers possibilities for the future development of next-generation GameFi. We are excited to continue participating in the global digital entertainment industry innovation based on our collaboration within the Ton ecosystem,” Ben El-Baz, managing director of HashKey Global, stated.

The development comes after HashKey Group struck a strategic partnership with TON Foundation in April.

HashKey’s partnership has since seen TON blockchain experience major developments in the GameFi space, with Catizen one of the Telegram mini-games to explode in user base and number of daily active users. Catizen continues to see significant traction amid viral adoption for competitors such as Kombat Hamster.

 

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Tether expands USDT to the Aptos blockchain

  • Tether will soon bring USDT minting to Aptos blockchain.
  • USDT is the world’s largest stablecoin with a market cap of over $116 billion.
  • Integration will boost Aptos’ decentralised finance ecosytem.

Tether’s USDT stablecoin will soon be available on the Aptos, the company behind the US dollar-pegged stablecoin announced on Monday.

According to Tether, the integration is part of the company’s broader strategy to bring the benefits of digital currencies to more people globally.

USDT expands to Aptos

The expansion to Aptos, a blockchain network designed to offer speed and scalability, gives Tether another opportunity to realise this goal. With Aptos making transaction costs extremely low, the community will be able to tap into use cases such as microtransactions.

“Aptos’ innovative technology offers a solid platform for facilitating faster and more cost-effective transactions with USD₮. This collaboration underscores our ongoing efforts to lead with innovation and support our users with stable, reliable financial tools,” Paolo Ardoino, CEO of Tether, said in a statement.

USDT is the world’s leading stablecoin by market cap, currently at over $116 billion and daily volume of over $31 billion. Meanwhile, Aptos is currently the world’s 33rd largest cryptocurrency network by market cap at $2.8 billion.

Apart from the integration helping to grow Tether’s user base, it also brings the benefits of USDT’s market reach to provide developers a more robust ecosystem for project development. Builders on Aptos will combine USDT and Move on Aptos to expand both the decentralised finance (DeFi) and payments ecosystem on Aptos.

“The launch of USD₮ on Aptos accelerates the availability and utility of real-world value for institutions, Web3 builders, and regular people worldwide,” Bashar Lazaar, head of grants & ecosystem at Aptos Foundation, noted.

Tether has expanded to several blockchains, including TON blockchain. However, most supply is on Tron and Ethereum, while the stablecoin issuer has recently discontinued minting on EOS and Algorand blockchains.

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