With this crypto weekly roundup, you can stay updated with the latest market trends and movements
Mastercard and well-known crypto exchange Binance will end their four crypto card programs next month. Bitget, a top crypto derivative and copy trading platform, has launched its annual trading competition, the King’s Cup Global Invitational (KCGI) 2023. Nine crypto companies raised US$158 million in fresh funding this week, with ZetaChain being a top performer. With this crypto weekly roundup, you can stay updated with the latest market trends and news on cryptocurrencies like Bitcoin, Ethereum, and more.
Mastercard, Binance Call Off Crypto Card Deal
Mastercard and well-known crypto exchange Binance will end their four crypto card programs next month, a spokesperson for Mastercard said via email on Thursday. Reuters broke the news that the two companies were canceling the agreement. The Binance Card in Argentina was introduced to “bridge the gap between cryptocurrencies and everyday purchases.” That allowed users to buy things and pay bills with Bitcoin, among other cryptocurrencies, at more than 90 million merchants.
US$158M Week for Layer-1 Blockchains
Nine crypto companies raised US$158 million in fresh funding this week, with ZetaChain being a top performer. The blockchain developer put $27 million on the board with participants in the round, including Blockchain.com, Jane Street Capital, Human Capital, Vy Capital, and GSR. ZetaChain is an Ethereum Virtual Machine-compatible layer-1 blockchain whose team wants to avoid bridges and wrapped tokens. Instead, it wants to move towards a simpler, more interoperable future for crypto.
Coinbase and Circle will Persist in Reaping Profits.
Coinbase Global wants to own part of Circle Internet Financial, a big name in the cryptocurrency world. At the same time, they’re closing down the Centre Consortium, which was in charge of the USD Coin (USDC), a stable type of cryptocurrency. Coinbase said in a blog post that because rules for stablecoins are clearer now, they no longer need a separate group like Centre to manage things.
BitOasis Raises Funds from Investors
Dubai-based crypto exchange BitOasis raised a round of funding from investors, including the Indian digital-asset platform CoinDCX. Terms of the deal and valuation weren’t disclosed. The company said that existing investors Wamda Capital and Jump Capital also participated in the round. BitOasis earlier this year said it received the first of Dubai’s “minimum viable product operational licenses,” allowing it to offer broker-dealer services for digital assets to qualified investors. Dubai subsequently reprimanded the company in July for failing to meet mandated conditions set forth by the local regulator.
Coinbase is in Talks with Canadian Banking Giants
U.S.-based crypto exchange Coinbase is in talks with Canadian banking giants, trying to convince them to support the crypto ecosystem in that nation, which the company recently entered as it grapples with regulatory uncertainty in its home country.
Fraudsters Utilized ChatGPT to Release a Crypto Botnet
The botnet, which the researchers dub Fox8 because of its connection to cryptocurrency websites bearing some variation of the same name, consisted of 1,140 accounts. Many seemed to use ChatGPT to craft social media posts and reply to each other’s posts. The auto-generated content was designed to lure unsuspecting humans into clicking links to crypto-hyping sites.
Bitget Launches Crypto Trading Tournament
Bitget, a top crypto derivative and copy trading platform, has launched its annual trading competition, the King’s Cup Global Invitational (KCGI) 2023. Traders worldwide, including Indian users, can now compete for a breathtaking prize pool of up to 2,650,000 US dollars, accompanied by an array of extravagant prizes, including a Tesla Cybersquad and an Airbus H135 helicopter. All Bitget users can participate in the event by signing up here.
Vitalik Buterin Sends US$1M ETH to Coinbase
Ethereum co-founder Vitalik Buterin deposited 600 ether (ETH), which is around US$1 million worth of the cryptocurrency, to crypto exchange Coinbase on Monday, according to data from the Ethereum blockchain scanning website, etherscan. The move comes as ether, the second largest cryptocurrency by market capitalization, suffered a 10% decline over the last seven days amid a broad market downturn that saw traders witness $1 billion in liquidations.
Unknown Bitcoin Wallet Becomes the Third-Largest Holder
According to Cointelegraph, an unknown Bitcoin wallet made it to the third-largest holder of Bitcoin in just over three months. It is believed that some theories are being made about its owner. With insights from BitInfoCharts, a crypto statistics platform, initially, the wallet address received Bitcoin on March 8, 2023. During the next three months and two weeks, the wallet should have collected about 118,000 BTC, worth about $3.08 billion at current prices.
Slovenia Has Emerged as the Most ‘Crypto-Obsessed’ State in Europe
A study conducted by the virtual currency gambling platform crypto gambling.tv looked at the highest number of internet searches involving several crypto-related terms and then ranked these numbers according to population size. Slovenia came out on top with roughly 100,000 searches each month, which accounts for an average of 4,789 searches per 100,000. In numerical order, Luxembourg, the Netherlands, Finland, and Turkey completed the top five.
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