#cryptocurrencies

#cryptocurrencies

In today's ExchangeWire news digest: TikTok readjusts its e-commerce business in a bid to break out of Asia; the IOSCO reveals a proposed global approach to crypto regulation; and Twitter accuses Microsoft of inappropriately harvesting data from the platform.TikTok has adjusted its e-commerce business in an effort to crack western markets such as the UK and the US.

Galaxy Digital's first over-the-counter (OTC) option trade, executed earlier this week, marks a tangible step toward bringing the conventional financial system onto decentralized finance (DeFi) infrastructure.FTX's blowup and the collapse of several crypto lenders brought attention to the risks of centralized finance (CeFi) - AKA trusting one's money with a company, rather than a protocol - providing a tailwind for DeFi.

Blockchain firm Ripple announced on Wednesday its $250 million acquisition of Switzerland-based custodian Metaco.Crypto advisory firm Architect Partners expects further mergers and acquisitions in the custody industry due to several market factors, according to a new research note.Architect Partners first analyzed the Ripple-Metaco deal, writing that Ripple "seeks to transform the $156 trillion cross-border payment market, has initiatives focused on the emerging opportunity for Central Bank Digital Currencies (CBDCs) and has aspirations to allow the issuance and settlement of any type of tokenized asset as that market develops."

Rosie Perper is the Deputy Managing Editor for the Web3 news section, focusing on the metaverse, NFTs, DAOs and emerging technology like VR/AR.She has previously worked across breaking news, global finance, tech, culture and business.She holds a small amount of BTC and ETH and several NFTs.The non-fungible token ( NFT) market is evolving, and measuring its success depends on which metrics you're looking at.

Bitcoin faithful are making the annual pilgrimage to Miami Beach by the thousands for the third year in a row, for an industry conference set to feature speakers including the U.S. presidential candidate Robert F. Kennedy and the author Michael Lewis.Organizers of the conference, Bitcoin 2023, call it the "world's largest Bitcoin gathering," starting Thursday and ending with an exclusive afterparty on Saturday night.

Securities and Exchange Commission Chair Gary Gensler listens during a meeting of top financial regulators at the U.S. Treasury Department on Oct. 3, 2022, in Washington, D.C.The SEC's lawsuit against crypto exchanges Binance and Coinbase this week are intended to bring both under the regulatory purview of the agency.

Krisztian Sandor is a reporter on the U.S. markets team focusing on stablecoins and institutional investment.He holds BTC and ETH.Stablecoin issuer Tether will regularly buy bitcoin ( BTC) for its stablecoin reserves using a portion of its profits starting this month as part of a new investment strategy focused on the largest cryptocurrency by market capitalization, the firm announced on Wednesday.

Are you looking for a reliable and user-friendly online trading platform?Look no further than TradeOX!In today's digital age, online trading has become increasingly popular due to its convenience and accessibility.And with TradeOX, you can easily buy and sell assets from the comfort of your own home or office.

Cryptocurrencies have captured the attention of investors worldwide with their meteoric rise in value.But along with the highs come the inevitable lows.The wild price fluctuations, like the Ethereum price in the crypto market, can leave even seasoned investors scratching their heads.But what causes these extreme price swings?

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A consumer advocacy group has filed a formal complaint with the European Commission about the spread of false crypto ads across social media.The group also complained to TikTok.com,Twitter and YouTube.BEUC filed a complaint with the European Commission regarding misleading cryptocurrency ads posted on social media.

The wave of government enforcement against cryptocurrency companies is beginning to remake the industry.Coinbase, the largest crypto exchange in the United States, has opened a business in Bermuda.Gemini, a rival firm based in New York, is seeking a license in the United Arab Emirates.And Bittrex, an exchange in Seattle, has shut down its U.S. operations.

Binance Co-Founder and CEO Changpeng Zhao, widely known as CZ, speaks during a press conference at the Europe's largest tech conference, the Web Summit, in Lisbon on Nov. 2, 2022.The SEC sued Binance and CZ on Monday, saying the company misled customers among other charges.Patricia De Melo Moreira/AFP via Getty Images U.S. regulators are targeting more giants in the world of crypto.

A tweet this week from Chris Frantz, the founder of email platform Loops, irked me.Frantz said "90% of the people I know in web3 have pivoted their company to AI."


What got to me was not that founders are so obsessed with securing venture capital that they'll glob onto the next "in" thing.

Bitcoin and ether stand unwavering, shrugging off the potential turbulence from the U.S. debt ceiling negotiations and its ripple effects on crypto.Bitcoin is opening the Asia trading day up 1.3% to $27,403, while ether is down 0.1% to $1,822.In the U.S., debt ceiling negotiations continue, with President Biden declaring that the country will not default on its debt.

Britons are being warned about the most convincing scams being seen by consumer group Which? this year.The company said there are four believable scams to look out for in 2023 to ensure you don't lose your money, explaining that consumers can protect themselves by signing up for scam alerts or seeking out expert advice.

Pakistan's government has hardened its stance against cryptocurrencies, even as retailers continue to hedge their financial bets against a devaluing Pakistani rupee partly due to a volatile political situation in the nation.Cryptocurrencies will "never be legalized in Pakistan," said Minister of State for Finance and Revenue Aisha Ghaus Pasha to the country's Senate Standing Committee on Finance on Wednesday, according to local reports.

The House of Commons Treasury Committee's opposition to the government's plans to regulate crypto like a financial service has generated an instant backlash from the industry - and lawmakers' views, though non-binding, may represent an extra bump in the road to the U.K.'s crypto plans.The country's finance ministry, the Treasury, is adamant that it will press ahead with its plans to regulate crypto using existing financial legislation, as crypto's risks are similar, a spokesperson from the government told CoinDesk.

Margaux Nijkerk reports on blockchain protocols with a focus on the Ethereum ecosystem.A graduate of Johns Hopkins and Emory universities, she has a masters in International Affairs & Economics.She holds a very small amount of ETH and other altcoins.There was a lot of confusion in terms of what the delay in "finality" meant for the functionality of the blockchain, prompting discussions about security concerns.

The European Union has given final approval to the first set of rules in the world designed to broadly regulate the cryptocurrency market.The Markets in Cryptoassets (MiCA) regulation, expected to come into force next year, places a number of rules on firms dealing in digital currencies, including that any organization planning to issue, trade or store crypto assets (ie, digital wallets) be licensed to do such business in the 27-nation bloc.

Amitoj Singh is CoinDesk's regulatory reporter covering India.He holds BTC and ETH below CoinDesk's disclosure threshold of $1,000.India's government and central bank have received proposals asking to restore access of the Unified Payments Interface (UPI), a widely popular real-time payment system, to the crypto industry, several sources familiar with the matter have told CoinDesk.

Good morning.Here's what's happening:

Prices: Amid Bitcoin role debates and halving concerns, bitcoin and ether start flat in East Asia; Cobo's data points to market confidence recovery and Bybit links memecoin surge to reinvestment, warning of mining impacts if Bitcoin doesn't stabilize above $30,000 post-halving.