Business

Global crypto exchange OKEx is ramping up its decentralized finance (DeFi) efforts with the introduction of the DeFi Hub, a decentralized digital asset ecosystem that includes a marketplace for nonfungible tokens (NFTs).  According to a Sep. 2 announcement, the crypto spot and derivatives exchange launched its DeFi Hub with two initial tools, NFT Marketplace and DeFi Dashboard. The NFT Marketplace enables users to mint their own NFTs to sell with a royalty fee that is set by the creator. Users would be able to import NFTs from other supported platforms like OKExChain to the OKEx NFT Marketplace, where they can buy, sell or trade nonfungible tokens “with zero fees paid out to OKEx.” The new DeFi Hub requires a connection with the OKEx Wallet, a multi-chain decentralized wallet offered ...

Binance’s affiliate United States-based cryptocurrency exchange Binance US is targeting an initial public offering (IPO) in 2024, according to Binance CEO and founder Changpeng Zhao. BinanceUS is planning to close a large private funding round in the next two months that would allow the firm to become more independent from the global exchange, Zhao said on Sept. 1 in an interview with tech publication The Information. Zhao is confident that the global crypto exchange will survive the ongoing regulatory crackdown by global regulators, and that Binance US will move toward a public listing in three years. “Binance.US is just going to do what Coinbase did,” Zhao stated. He said that Binance generated $800 million to $1 billion in profit last year. The news comes amid more global regulator...

Three time NBA champion Stephen Curry has snapped up a Bored Ape Yacht Club nonfungible token (NFT) for 55 Ether worth around $206,000 at the time of publication. The Golden State Warriors star purchased an NFT depicting an ape with blue fur wearing a plaid suit on Aug. 28. Curry’s wallet on OpenSea shows a collection of 20 NFTs, including a 5.69 ETH ($21,000) purchase of Bored Ape Kennel Club NFT on Aug. 28. To the surprise of other collectors, Curry has since been active in the Bored Ape discord group and even changed his Twitter profile picture to display his recently purchased ape. .@StephenCurry30 just casually chillin in the bored ape discord pic.twitter.com/sREO3RIq2N — Storm (@CryptoStorm__) August 28, 2021 The Bored Ape Yacht Club project has shot up in popularity over the past fe...

A Salvadoran news outlet has reported that a computer and cryptocurrency expert critical of the country accepting Bitcoin as legal tender was arrested by local police and held for hours before being released. According to multiple interviews conducted by La Prensa Gráfica, police in San Salvador arrested computer specialist Mario Gómez Wednesday without a warrant, seizing his phone and attempting to take possession of a computer from his mother Elena de Gomez. The National Civil Police, or PNC, released a statement saying Gómez’s detainment was related to an investigation for financial fraud. Otto Flores, Gómez’s lawyer, said authorities released Gómez later that afternoon. “[Mario] participates a lot in forums, in events, on social networks and is critical of the government,” ...

Bitcoin (BTC) failed to break the critical $50,000 psychological barrier on Aug. 23 and has since then retested the $47,000 support. If historical data plays any role in Bitcoin price, the month of September presented negative performances in 4 of the previous 5 years. Cointelegraph contributor and market analyst Michaël van de Poppe recently said that Ether’s (ETH) break above $3,500 could be a leading indicator for Bitcoin’s next bull run, and now that Ether trades at $3,700, traders anxiously await BTC’s next move. Bulls could be excited for El Salvador’s Bitcoin Law, which is scheduled to take effect on Sept. 7. In addition, the recent $150 million Bitcoin Trust approval by the country’s Legislative Assembly is another potentially bullish development....

Former director and promoter of the notorious Bitconnect Ponzi scheme, Glenn Arcaro, has pled guilty to fraud charges related to his role in the now-defunct crypto exchange and lending platform He has been ordered to pay back $24 million to investors. In a parallel action in the long-running saga the United States Securities and Exchange Commission (SEC) has charged Bitconnect, its founder Satish Kumbhani, former director Arcaro, and Future Money Ltd. over the scheme. The defendants are accused of running a fraudulent, unregistered securities offering that netted $2 billion. The latest developments come three years after BitConnect shut down its lending platform and crypto exchange in light of warnings from Texas and North Carolina regulators. Bitconnect has been widely accused of being a ...

Standard Chartered, a United Kingdom-based multinational banking firm, has joined an alliance of fintech companies and banks aimed at accelerating the adoption of best practices of cryptocurrencies. In a Wednesday announcement, Standard Chartered said it would be joining crypto and digital finance industry membership body Global Digital Finance, or GDF, Patron Board. As a member, the bank will help engage with international regulators and lawmakers as well as others in the industry to advocate for digital assets. According to the GDF, Standard Chartered is the first bank to join the group’s patron board, which currently consists of ten other members including crypto exchanges Coinbase, Huobi, SIX Digital Exchange, and 100x Group — the parent company of BitMEX. The alliance aims to drive ma...

Bitcoin (BTC) is struggling to break above $50,000 but analysts remain confident due to strong on-chain metrics. Analyst Willy Woo believes that investors have been accumulating Bitcoin and a break above $50,000 could result in a quick up-move to $60,000. Another positive voice was that of SkyBridge Capital CEO Anthony Scaramucci, who said in an interview with Cointelegraph that the limited, fixed supply of Bitcoin and exponentially growing demand will boost prices higher. Scaramucci personally believes that Bitcoin could reach $100,000 before the end of the year. Daily cryptocurrency market performance. Source: Coin360 Currently, the focus seems to have shifted to Ether (ETH) as it rallied to a three-month high against Bitcoin. This strong performance is backed by a drop in the amount of ...

Dfinity’s Internet Computer has announced the release of 10,000 non-fungible tokens, or NFTs. Users are eligible to claim their free token Wednesday at 8pm UTC . Conceptualised by brothers Przemek and Tomasz Chojecki, alongside Adam Stępnik, the trio were inspired to create the avatars following acronym comparisons to the 90’s hip-hop duo Insane Clown Posse, and the overwhelming success of the legendary Cryptopunk NFTs. Following a series of exclusive early releases, it is expected that only 3,000 punks will be available to claim, one per user, at the time of release. Cointelegraph spoke to co-founder of the project, Przemek Chojecki about his expectations for the NFT drop: “We’re incredibly excited for the launch of ICPunks on the Internet Computer. The NFT space is movi...

Former Commodity Futures Trading Commission chair Christopher Giancarlo, also known as “Crypto Dad,” will be leaving crypto lending firm BlockFi’s board of directors, but continuing to advise the group on digital assets. In a Wednesday announcement, BlockFi said Ellen-Blair Chube, a managing director and client service officer at investment banking firm William Blair & Company, would be replacing Giancarlo. BlockFi founder and CEO Zac Prince cited Chube’s “strong financial services experience married with her deep knowledge of the public sector” in bringing her on as a board member, but added that Giancarlo would contribute in an informal capacity as an advisor. “I’m looking forward to continuing to advise this impressive group of leaders, as they work to bridge the worlds of tradition...