JPMorgan: Rise of Ethereum Staking Increased Centralization
A new JPMorgan report says Ethereum has become more centralized due to staking growth after the Merge, also leading to lower yields.
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Retail Stablecoin Trading Still Prohibited in Hong Kong
A Hong Kong official has stated that retail investors are not permitted to trade stablecoins until regulations are formally implemented, expected by end of 2024.
Crypto Whale Withdrawals Alongside 18B SHIB Accumulation
Shiba Inu has claimed the cryptocurrency spotlight once again following data showing substantial accumulation among new wallets alongside large holders withdrawing from exchanges.
OpenAI Expands Into AI Chip Development Amid Global Shortages
As global chip shortages persist, AI pioneer OpenAI is reportedly considering plans to develop its own AI chips or pursue an acquisition, though no final decisions have been made yet. This comes as the demand for costly AI chips continues to rise.
Forbes: Binance BNB ICO Flop, Excess Tokens Held
A new Forbes report alleges Binance’s BNB ICO failed to sell most tokens, leading the exchange to gain outsized allocations, adding to ongoing legal and transparency issues.
USDC on Cosmos Upgraded with Cross-Chain Transfer Protocol
Circle will implement its cross-chain transfer protocol on the Cosmos network through integration with Noble, enabling efficient USDC transfers between Cosmos and other chains.
SEC Lawsuit Seeks Elon Musk Testimony on Twitter Deal
The SEC has filed a lawsuit against Elon Musk, seeking his testimony in the agency’s investigation into potential securities law violations during his acquisition of Twitter and aiming to determine the legality of the $44 billion deal.
Binance Losing Crypto Exchange Crown
Binance, the leading cryptocurrency exchange, experiences declining market share and trading volumes, resulting from the termination of zero-fee trading promotions, potential legal challenges, and a 57% drop in Bitcoin trading volume, while other exchanges like Coinbase maintain stable volumes.
Robinhood Adds Dogecoin Wallet, Cardano Struggles, Everlodge Fractional Luxury Presale
Robinhood adds Dogecoin to its crypto wallet while Cardano sees price drop but high interest remains; new fractional luxury property platform Everlodge offers affordable ownership through presale.
Why Bitcoin Is Struggling Above $28.5K
Bitcoin failed to break the $28.5K resistance due to economic headwinds from Fed policy, low futures premium indicating weak leverage demand, and fading confidence in spot BTC ETF approval.