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Kusama responded to Coinbase’s CEO, Brian Armstrong's update with the statement, "If it isn't a shadowcat, it's a copycat." Shytoshi Kusama, the lead developer of Shiba Inu, has given a response to Coinbase's Onchain Summer campaign . He suggested that Coinbase's campaign seemed to have similarities with the ideas originally presented by the Shiba Inu community. Kusama responded to Coinbase’s CEO, Brian Armstrong's update with the statement, "If it isn't a shadowcat, it's a copycat." On August 3, Armstrong showcased in a tweet the use of the Base bridge, launched the previous day, while highlighting Coinbase's upcoming Onchain Summer initiative. Coinbase is preparing to launch its Ethereum Layer 2 solution, known as Base, on the mainnet. Armstrong recently confirmed that Base is aimed at bringing the next billion users into the blockchain ecosystem. It aims to achieve this goal by offering tools for the development of various W...

Bitcoin is at the pivotal 50-day SMA support and a drop below this level could result in accelerated selling in BTC and altcoins. Bitcoin (BTC) plunged to $29,000 on July 24, signaling that bears are trying to seize control. It looks like the failure to hold on to the higher levels may have tempted short-term bulls to book profits and aggressive bears to initiate short positions. Although the near term looks bearish, long-term investors remain unfazed and they continue to hold on to their positions. Glassnode data shows that Bitcoin’s Long-Term Holder Supply made a new high of 14.52 million Bitcoin, “equivalent to 75% of the circulating supply.” Daily cryptocurrency market performance. Source: Coin360 While the cryptocurrency markets have turned soft in the near term, the United States equities markets remain on a strong footing. The Dow Jones Industrial Average has risen for ten straight days, its longest streak since 2017. However, things could change this week with a slew of key ea...

U.S. stock markets hit year-to-date highs, the Fed pauses rate hikes, Binance.US and the SEC reach an agreement, but data shows Bitcoin bulls remain somewhat skittish. After a momentary retest of the $25,000 support on June 15, Bitcoin (BTC) gained 6.5% as bulls successfully defended the $26,300 level. Despite this, the general sentiment remains slightly bearish as the cryptocurrency has declined by 12.7% in two months. The dismissal of Binance.US's temporary restraining order by United States district court Judge Amy Berman Jackson is somewhat related to investors’ sentiment improving. On June 16, the exchange reportedly reached an agreement with the U.S. Securities and Exchange Commission (SEC), avoiding the freeze of its assets. On a longer timeframe, the global regulatory environment has been extremely harmful to cryptocurrency prices. Besides the SEC trying to unilaterally label exactly which altcoins it views as securities and litigating with the two leading global exchanges...

Market observers will closely watch the United States CPI data and the Fed’s policy decision to provide direction to the stock and crypto markets. After the tough sell-off seen in the past week, the cryptocurrency markets will be looking for some support from the macroeconomic data this week. The all-important United States Consumer Price Index report on June 13 will be followed up by the Federal Reserve’s policy decision on June 14.  Both these events could trigger a sharp response from equities and crypto traders. While a knee-jerk reaction is expected, it will be interesting to note if there is any follow-up to it. Traders may remain cautious as market volatility is likely to pick up over the next few days. Daily cryptocurrency market performance. Source: Coin360 Although the lawsuit by the U.S. Securities and Exchange Commission (SEC) against Binance and Coinbase has weakened sentiment, Bitcoin (BTC) whales are using this opportunity to increase their holdings. Behavior analytics ...

Japan's FSA warns Binance, Bybit, MEXC Global and BitForex, among others, for unregistered operations as it cracks down on crypto exchanges in Japan. In a warning letter released on Friday, Japan's Financial Services Agency (FSA) said that a number of foreign cryptocurrency exchanges, including Binance, Bybit, MEXC Global and Bitget, have been conducting business in the country without proper registration , violating the nation's fund settlement laws. According to the warning letter, the FSA stated that the listed Exchanges had breached Japan's fund settlement regulations by conducting crypto asset exchange business without proper registration . The regulator clarified that the current list of unregistered traders may not accurately represent the current state of unregistered businesses. The FSA’s action follows a crackdown on unregistered crypto exchanges in the east Asian nation. In 2020, the FSA introduced new regulations requiring crypto exchanges to register with ...

Lennix Lai, managing director of Global Institutional at OKX spoke with Cointelegraph about what it means to be transparent in a post-FTX and SVB crypto industry. The global Cryptocurrency Exchange OKX released its fifth edition of its proof- of- reserves (PoR) report, which it began releasing in Nov. 2022 in its effort for more Transparency in the industry.  According to the latest edition, OKX holds $8.9 billion across Bitcoin (BTC), Ethereum (ETH) and the Tether stablecoin (USDT). This puts the reserve ratios of BTC, ETH and USDT at 103%, 103% and 102%, respectively. This latest release also comes as the exchange upgraded its PoR system with more transparency by making full liabilities (i.e. the total balance of user deposits) publicly accessible. Cointelegraph spoke with Lennix Lai, the managing director of Global Institutional at OKX, regarding these extra steps towards transparency. Lai said that recent events in industry highlight that, “crypto-native challenges require cry...

Swan Bitcoin has simplified Bitcoin saving with automatic recurring buys and one-time buys. Find how Swan Bitcoin works. When someone wants to buy Bitcoin (BTC), they usually take the route of a cryptocurrency exchange. Newbies may buy BTC on just any exchange they come across, while those with some sort of experience may opt for a reputable one. The exercise though bears little fruit as most exchanges function almost identically as centralized entities, often working as custodians of the crypto assets of the buyers. The security factor is generally limited to passwords and 2-factor authentication (for the buyers who have opted for it). Customer support, wallet support and ease of use are other factors that buyers might consider when zeroing in on an exchange to buy Bitcoin. Exchanges have a drawback when it comes to supporting customers who want to buy Bitcoin. With an array of digital coins on their platforms, it is simply not possible for them to focus exclusively on Bitcoin buyers...