Crypto

United States-based cryptocurrency exchange CrossTower is expanding operations to India despite the ongoing legal uncertainty over local crypto regulation. CrossTower has set up a local division in India and launched a cryptocurrency trading platform to capture the growing multi-billion-dollar market, Reuters reported Monday. CrossTower India has already onboarded 35 employees and is looking to expand its team to 100 people in the next six to nine months. With $7.6 million in daily trading at the time of writing, CrossTower expects its Indian exchange to contribute to its plans to expand further across the world. “India will play a pivotal role and we plan to use the country as a hub to expand into other geographies,” CrossTower co-founder and CEO Kapil Rathi said. CrossTowe...

Australian buy now pay later (BNPL) giant Afterpay — now part of Jack Dorsey’s Square — has said that it is likely to pursue cryptocurrency services once the regulatory framework is clear. Following on from Afterpay’s submission to the Senate inquiry into “Australia as a Technology and Financial Center” which posited that merchants could slash payment costs by utilizing cryptocurrencies, representatives spoke to the inquiry on Sept. 8. Afterpay’s vice president for public policy and communications Damian Kassabgi said that “this idea of being able to exchange currencies from person to person or to a merchant without going through the traditional rails could create a lot of efficiencies.” Crypto-friendly Liberal senator Andrew Bragg asked if Afterpay had plans to offer crypto services...

Crypto Gaming United, a startup aiming to build a global community of nonfungible token (NFT)-focused play-to-earn gamers, hraised $5 million in an oversubscribed seed funding round. A Sept. 8 announcement notes the round was led by famed Australian venture capitalist Mark Carnegie and Chrono.tech CEO Sergei Sergienko — with the pair having co-founded the crypto-focused asset manager MHC Digital Finance. Australian investment managers Shaw and Partners and Blockchain Assets also participated in the round. Crypto Gaming United was established in August of this year and has already attracted more than 1,500 members and has a waiting list of almost 40,000. The guild helps members play the popular NFT-based game Axie Infinity by offering scholarships where sponsors provide expensive in-game as...

Support for Coinbase and its CEO, Brian Armstrong, has been pouring from the crypto community since the company disclosed in a regulatory filing on Wednesday that it had received a Wells notice from the U.S. Securities Exchange Commission. The regulator has threatened to sue the exchange over its proposed Lend program, which would offer 4% interest on customer holdings of the USDC stablecoin. Company CEO Brian Armstrong took to Twitter on Sept. 8 to vent his dismay over the lack of clarity from the regulator as to why it believes the product is a security. Rival platforms Celsius and BlockFi offer similar products. Speaking to Yahoo! Finance on Sept. 8, Celsius Network co-founder and CEO Alex Mashinsky said that everyone in the crypto industry was looking for clarity: “I think we’re going ...

Retail trading platform Robinhood has rolled out a new recurring crypto investment feature for users who want to dollar cost average (DCA) into a coin. Given DOGE accounts for 62% of Robinhood’s crypto services revenue, the move could result in a steady stream of small buyers for the memecoin. The firm announced the launch of the new feature on Sept. 8, and users are able to set up up recurring investments in multiple crypto assets on a daily, weekly, bi-weekly or monthly basis. The minimum purchase amount is $1, with the firm is promoting the feature as a simple way to DCA into crypto markets without paying fees. “If you place an order and spend $100 to buy Bitcoin, you’ll get $100 worth of Bitcoin. Period,” Robinhood stated. Related: PayPal reportedly looks to take on Robinhood with stoc...

The wider cryptocurrency market appears to be in the early stages of a recovery with many altcoins regaining their footing after correcting by 20% to 30% on Sept. 7 when Bitcoin (BTC) fell below $43,000.   Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets Pro Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24 hours were NEAR Protocol (NEAR), Algorand (ALGO) and PowerPool (CVP). NEAR Protocol gains 64% The top gainer NEAR Protocol is a decentralized proof-of-stake protocol focused on offering faster transaction speeds at a lower cost to help facilitate the adoption of blockchain technology. Data from Cointelegraph Markets Pro and TradingView shows that after dropping to a low of $5.44 on Sept. 7, the p...

Crypto derivatives platform Delta Exchange announced Wednesday that it has launched futures trading on Solana (SOL) and Cardano (ADA), giving investors a new access point to the leading altcoins. The initial rollout of SOL and ADA call and put options will have daily maturities, with weekly and monthly maturities to be made available at a later date. Options give owners the right, but not the obligation, to buy or sell a specific security at a specified price within a pre-defined timeframe. Call and put options are used heavily in traditional markets but have become more prevalent within crypto markets. Delta Exchange already provides options trading for Bitcoin (BTC), Ether (ETH), XRP (XRP), Bitcashpay (BCP) and Binance Coin (BNB). As Cointelegraph reported, the derivatives exchange launc...

Blockchain infrastructure developer Blockstream has partnered with Macquarie Group, an Australian multinational investment bank, to launch a new pilot for a Bitcoin (BTC) mining facility with a mandate to explore carbon-neutral alternatives.  As part of the pilot project, Macquarie Group is investing in one of Blockstream’s enterprise-grade mining facilities, the companies announced Wednesday. This will allow Macquarie Group to uncover new opportunities in renewable energy that can be bootstrapped for more sustainable Bitcoin mining initiatives.  Macquarie Group is one of the largest institutional investors in the renewable energy infrastructure, with 44 gigawatts of generation under development or construction as of March 31, 2021. Blockstream has broadened its ambitions in the ...

Analysts are attributing Bitcoin’s (BTC) plunge on Sep. 7 to the liquidation of over-leveraged positions. According to Bybt data, about $3.68 billion worth of long positions were liquidated in the last 24 hours in the Bitcoin options market. On-chain monitoring resource Whalemap said the decline was largely caused due to selling by whales who had recently bought their Bitcoin and not by the HODLers. Separately, analyst Willy Woo also said: “Leverage markets sold off but investor buying just got stronger.” Every bull market has its share of corrections where weaker hands are shaken out and the stronger hands solidify their position. Therefore, if investors believe in the long-term story, they should not be perturbed by the pullbacks. Daily cryptocurrency market performance. Source: Coin360 ...