Some crypto companies have seen tremendous growth in recent years and are now considering going public.
Blockchain.com aims to go public in a couple of years.
Blockchain.com, one of the leading cryptocurrency trading platforms and wallet service providers, has reported its intention to go public. In a recent interview, Macrina Kgil, CFO of Blockchain.com, told Fortune that the company is contemplating going public in 2023.
The company has seen massive growth in recent years. Its CFO has revealed that blockchain.com has processed more than $ 1 trillion in crypto transactions in the last decade. blockchain.com thus joins the list of recognized crypto companies planning to go public. Binance cryptocurrency exchanges and Kraken and stablecoin issuer Circle have indicated their intention to go public within 1-3 years.
Cream Finance becomes the latest Defi protocol to suffer an attack.
Another decentralized finance protocol (Defi) came under attack this week, leaving millions in the loss. Cream Finance announced earlier this week the theft of $ 18.8 million in a flash loan attack. Lending protocol Defi reported that the hacker took advantage of a flaw in the $ AMP token contract to execute the attack. Cream Finance joins the long list of Defi protocols that have suffered multimillion-dollar attacks and losses in recent months.
The Cream Finance team said they would replace the stolen ETH coins and AMP tokens to ensure that users do not suffer from liquidity problems. The developers will take 20% of the protocol fees to reimburse affected users and ensure everyone gets what they lost. The Defi market is relatively new, and more work needs to be done to provide adequate security to investors and market participants.
Twitter is working on a tipping feature on BTC and other services.
Jack Dorsey's companies Twitter and Square have gotten involved in the crypto space, especially with bitcoin. Twitter is working on a new feature that will allow its users to tip using BTC. The beta testing of the social network suggests that the development team is working on the feature. The bitcoin tipping service is expected to use the Lightning Network (LN) to process small BTC payments. The service is also expected to support custodial and non-custodial BTC wallets.
Another report also says that Twitter is working on an interface that would allow users to add their Bitcoin and Ether address to their profiles on the social media platform. This new feature would make it easier for people to copy their BTC or ETH addresses and make payments. The idea behind the feature is to allow Twitter users to receive tips in cryptocurrency through its Tip Jar service.
Singapore's central bank warns about Binance.com.
Binance, the world's leading cryptocurrency exchange, has come under intense scrutiny in recent months. This week's news comes from Singapore, where the country's financial regulator, the Monetary Authority of Singapore (MAS), has placed binance.com on its investor alert list.
The list contains names of individuals and financial entities that investors should avoid. These individuals and companies provide financial services without obtaining a license from the regulator and, as such, are considered unsafe for Singaporeans. This latest development is a serious blow to Binance, which has focused its efforts in recent months on hiring former regulators to ensure that the crypto exchange operates within the margins of the law.
FTX.US Agree to Acquisition of LedgerX and FTT Token Rebounds to New All-Time High
FTX is one of the largest and fastest-growing cryptocurrency exchanges in the world, and the company experienced exponential growth in the past year. FTX.US, the US unit of cryptocurrency exchange, announced a deal to buy LedgerX. The acquisition is big business for FTX, as LedgerX is a CFTC-regulated digital currency futures and options clearinghouse and exchange.
The acquisition of LedgerX will allow FTX.US to offer derivatives trading services to its clients in the United States. The exchange will offer the service in a regulated manner, thus avoiding any kind of problems with the CFTC. The acquisition is one of the main catalysts that propelled the FTT token to a new all-time high yesterday. FTT, the native token of the FTX exchange, reached a new all-time high of $ 66 yesterday, consolidating its place as one of the world's leading cryptocurrencies. FTT is the second-largest exchange token, behind only Binance's BNB coin.
El Salvador Launches USD 150M BTC Trust Fund to Help Adoption
Bitcoin (BTC) will officially become legal tender in El Salvador on September 7. However, the government has made the necessary arrangements to ensure that everything runs smoothly.
To that end, the government has launched a $ 150 million BTC fund to help with the adoption process. Part of the funds will be used to give citizens $ 30 to download and use the Chivo Bitcoin wallet. Additionally, the government has installed 200 bitcoin ATMs across the country to make it easier for people to buy and sell BTC.
Metamask reaches 10 million monthly active users.
The popular cryptocurrency wallet Metamask has surpassed 10 million monthly active users. The Ethereum wallet has seen 1,800% growth over the last year, thanks to increased interest in the decentralized financial space. The growing interest in non-fungible tokens (NFTs) is another key reason why Metamask has seen a massive increase in its monthly active users.
Vast Bank becomes the first authorized bank in the US to offer bitcoin services.
Vast Bank has become the first licensed bank in the United States to offer Bitcoin purchase and custody services to its customers. The bank's CEO, Brad Scrivner, told Forbes earlier this week that increased demand from its customers is the main reason it will start offering BTC services. The bank has received approval from the Office of the Comptroller of the Currency (OCC) and has discussed the matter with the Federal Reserve.
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