Backpack EU, the owner of FTX EU — the former European arm of the defunct exchange FTX — is launching operations after settling with the Cyprus Securities and Exchange Commission (CySEC). Backpack EU, registered with the CySEC as Trek Labs Europe, announced on Monday the launch of its perpetual futures platform in Europe, the company told Cointelegraph….
A Messari analyst sparked heated debate over the weekend after declaring Ethereum is “dying” as network revenue declined in August. In an X post on Saturday, Messari research manager AJC stated that “Ethereum’s fundamentals are collapsing,” as Ethereum’s revenue from fees in August was $39.2 million, down over 40% year-over-year and approximately 20% month-over-month. But many who…
Tether CEO Paolo Ardoino has denied recent rumors that the stablecoin issuer is offloading its Bitcoin holdings to buy gold. In a Sunday post on X, Ardoino said the company “didn’t sell any Bitcoin,” and reaffirmed its strategy of allocating profits into assets like “Bitcoin, gold, and land.” The comments came in response to speculation…
Stablecoins like USDt have become the de facto currency for millions of people navigating a crumbling financial system in Venezuela as the country’s annual inflation rate surges to 229%. Once limited to crypto-savvy users, Tether’s USDt, often referred to locally as “Binance dollars,” is now widely used across Venezuela for everything from groceries and condo…
The Bitcoin mining difficulty, the average difficulty level for mining a block on the network, climbed to a new all-time high of 134.7 trillion on Friday. Network difficulty hit a previous all-time high in August and steadily rose throughout the month, despite projections that network difficulty would decrease. Bitcoin’s hashrate, the average of the total number of…
The US Senate updated its crypto market structure bill on Friday, adding a key provision to clarify how tokenized assets are regulated. The new clause would ensure that stocks and other securities remain classified as securities when tokenized on a blockchain, avoiding potential confusion over whether they should fall under commodities regulation. The distinction is…
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