Cryptocurrency

Lebanon turns to crypto amid bank closures; FTX seeks to raise $1B; Zilliqa launches web3 gaming console

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The biggest news in the cryptocurrency space on September 22nd included Binance’s newly created Global Advisory Board to promote responsible regulation of the cryptocurrency sector, Russia’s financial watchdog and largest bank to support cryptocurrency in international payments. Including agreement to use currency and indefinite closure. The rise of Lebanese banks has made Lebanese turn to cryptocurrencies.

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Binance Establishes Global Advisory Board To Drive Responsible Regulation Of Cryptocurrencies

Binance has announced the launch of a Global Advisory Board (GAB) to support responsible regulation of cryptocurrencies.

Binance CEO Changpeng Zhao said the new initiative builds on Binance’s commitment to establishing sound engagements with regulators around the world and supporting them in creating a regulatory framework for the cryptocurrency industry. said to show

Russian financial regulator agrees to use crypto for international payments

According to Russia’s Acting Finance Minister Alexei Moiseyev, the country’s Ministry of Finance and its largest banks have agreed to allow the use of crypto in international payments.

Moiseev said the two will work together to create an agreeable regulation for cryptocurrencies by Dec. 19.

As banks shut indefinitely, Lebanese turn to cryptocurrencies and decentralization

Lebanon’s financial crisis is getting worse by the day. On September 15, the government froze all bank deposits and closed them for a week. But as banks were about to reopen, he announced on September 22 that the Lebanese Bankers Association (ABL) would close the banks indefinitely.

Meanwhile, young people in Lebanon, who were already crypto-adopted due to the ongoing financial crisis, turned to crypto entirely. Seeking economic relief, these young people are leading the country’s crypto revolution.

FTX Aims To Raise $1 Billion At $32 Billion Valuation

Exchange giant FTX is preparing to hold a funding round to raise $1 billion. If this happens, the valuation on the exchange will reach his $32 billion. Temasek, SoftBank and Tiger Global are among his investors who have agreed to fund his FTX in this round.

The exchange will hold a funding round in January 2022, raising $400 million from various investors. But this time, FTX CEO Sam Bankman-Fried (SBF) is asking for help to continue investment efforts to stop further contagion of winter conditions in the market.

Zilliqa launches web3 game console with built-in miner and crypto wallet

Zilliqa (ZIL) has announced a new Web3 game console with mining capabilities. The new console will be released in early 2023 and aims to bring new users into the blockchain gaming space.

Zilliqa Web3 Game Console
Zilliqa Web3 Game Console

The console beta testing period will begin in October 2022 and users will be able to pre-order in Q1 2023.

Helium community votes to move to Solana, wins new T-Mobile partnership

Helium’s (HNT) community decided to migrate its wireless network to Solana’s (SOL) Layer 1 blockchain, with an overwhelming majority of 81.4%. Helium developers say moving to Solana benefits scalability and adoption.

India considers GST for cryptocurrency trading as it assesses sector legality

The Indian government is working to implement a new tax policy on cryptocurrencies. Indian regulators are preparing to introduce a Goods and Services Tax (GST) on all cryptocurrency transactions, which could vary between 18% and 28%.

Coinbase denies Wall Street Journal monopoly allegations

The Wall Street Journal reported on Coinbase on Sept. 22, claiming the exchange created a trading group and used $100 million of its funds to trade cryptocurrencies.

Coinbase came forward the same day to deny the allegations, saying the journal was conflating Coinbase’s customer-driven activity with proprietary trading.

“Coinbase has never run a trading business of its own.

South Korean tax authorities have seized $185 million worth of cryptocurrencies from tax evaders since 2021.

Since 2020, North Korean authorities have seized the assets of delinquent taxpayers and sold them if taxes remained unpaid.

According to recent reports, authorities have seized approximately $185 million worth of cryptocurrency from tax delinquents since 2021.

New UK Bill Aims to Help Law Enforcement Seize and Freeze Crypto

The UK has introduced new legislation aimed at making it easier for law enforcement to freeze and seize crypto assets.

The economic crime and corporate transparency bill will strengthen the UK’s image as a place where legitimate businesses thrive and keep dirty money out of the country, the statement said.

research highlights

Investigation: 10-Year-Old Whale Is Hoarding Bitcoin Again.Last time was when LUNA collapsed

crypto slate An analysis detected the movement of a crypto wallet holding over 1,000 Bitcoins (BTC) that had been stagnant for nearly a decade. Looking at Bitcoin’s Spent Volume Age Bands (SVAB), the analyst revealed that both He’s 7-10 and He’s 10+ are selling the coin.

The last time we saw such a selling trend by whales was during Terra (LUNA) collapse in May.

Bitcoin SVAB 7-10 year old whales
Bitcoin SVAB 7 to 10 year old whales

Notably, whales that were immobile for 7 to 10 years recorded the 5th and 6th highest annual trades. Anything older than 10 years didn’t break records, but the chart also shows a big move towards cashing out.

Additionally, the number of whales is also declining, even as the price of Bitcoin continues its downward trend. Whales read the market better than any ‘youngster’ and tend to hold out through the worst of storms, so the decline in whale numbers and token sellouts could signal bearish sentiment in the market. .

crypto market

Bitcoin (BTC) registered a 1.75% gain over the past 24 hours, rising to $19,340. Ethereum (ETH) also rose 0.26% to reach $1.328.

Biggest Gainers (24 hours)

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Posted In: Bitcoin, Ripple, Solana, Zilliqa, Binance, Coinbase, FTX, India, South Korea, Russia, USA, Wrap

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