Binance Launches Ether-Based Liquid Staking Product WBETH to Rival Liquid Staking Competitors

In an announcement made on April 24, Binance, the cryptocurrency exchange with the largest trade volume, unveiled its latest staking product, wrapped beacon eth (WBETH). This new addition to Binance’s staking solutions is built on the Ethereum network, joining the ranks…

Australia Suspends Financial Services License of Local FTX Entity

Australia’s securities regulator has suspended the license of the Australian unit of the bankrupt crypto exchange FTX until mid-May. According to an issued statement, the platform will be allowed to provide limited financial services until Dec. 19 in order to terminate…

Decentralized App BCH Bull Prepares for Launch, Platform Allows Users to Long or Hedge Bitcoin Cash Against a Myriad of Tradeable Assets

Just recently the developers behind the Bitcoin Cash-centric project Anyhedge released the alpha version of the Anyhedge Whitelabel and since then, 284 smart contracts were created onchain, and more than $32,900 in funds hedged using the alpha protocol. Furthermore, this month,…

Fintech Firm Galoy Raises $4 Million, Startup Introduces Bitcoin-Backed Synthetic Dollar Product

On Wednesday, Galoy, the firm behind El Salvador’s Bitcoin Beach Wallet, announced that the company raised $4 million in funding in an investment round led by Hivemind Ventures. On the same day, the startup launched a new product called Stablesats, a…

Wechat to Prohibit Accounts From Providing Some NFT and Crypto Services

Tencent’s Wechat intends to impose penalties on public accounts facilitating secondary trading of NFTs, a press report has revealed. Accounts offering transaction channels and guidance for cryptocurrencies have also been targeted by the new rule. Popular Chinese App to Impose Restrictions…

CFTC Fines ‘Decentralized’ Prediction Market Platform Polymarket $1.4 Million, Shuts Down Noncompliant Markets

The U.S. Commodity Futures Trading Commission (CFTC) has ordered a “decentralized” prediction market platform to shut down non-compliant markets and pay a fine of $1.4 million. “Polymarket had been operating an illegal unregistered or non-designated facility for event-based binary options online…