Coinbase Launches Global Platform And More

Coinbase has finally launched its international exchange platform after facing severe challenges in the United States, primarily from the SEC. Let’s find out more.

DeFi

On Wednesday afternoon, Curve Finance’s highly anticipated crvUSD stablecoin was finally deployed on the Ethereum mainnet.

Yet another hack hit the DeFi ecosystem, as decentralized perpetual market Level Finance was hacked for $1.1 million by an unknown attacker. 

Altcoins

The memecoin Pepe, based on the frog, has taken the crypto space by storm and is soaring towards a $1 billion market cap.

Layer-1 blockchain Sui has announced the launch of its mainnet on Wednesday as it gears up to take on other DeFi heavyweights such as Aptos. 

Some AI-related altcoins were among the best performers of the latest crypto rally, which topped in early February.

Technology 

The Aptos Foundation has unveiled its first round of grant recipients, awarding more than $3.5M to 50 project teams focused on scaling the Aptos blockchain. 

X.AI, an advanced AI model specialized in crypto and blockchain, announced its official launch. Elon Musk serves as its director.

Business

US-based crypto exchange Coinbase had some cause for cheer as it released its first-quarter revenue report, with results exceeding expectations. 

The company recently launched Coinbase International Exchange, a platform designed for institutional clients based in eligible jurisdictions outside the U.S.

Dubai-based crypto exchange Bybit has become the latest exchange to offer a cryptocurrency lending service.

Gemini has officially announced the launch of the Gemini Foundation, the highly anticipated offshore crypto derivatives platform. 

Crypto exchange Luno’s vice president of corporate development and international, Vijay Ayyar, is leaving the company as it prepares to exit Singapore.

Regulation

The United States Justice Department is investigating crypto exchange Binance in connection with possible Russian sanction violations.

New York Attorney General Letitia James proposed legislation to grant her office greater authority to regulate the cryptocurrency industry.

The Financial Conduct Authority (FCA) is cracking down on illegal cryptocurrency ATMs, recently targeting those in Exeter, Nottingham, and Sheffield sites.

Kenya is considering implementing a 3% tax on cryptocurrency and non-fungible token (NFT) transfers as part of the country’s proposed budget.

In a Reuters exclusive, Israeli authorities have revealed that, since 2021, they have seized 190 Binance accounts linked to designated terrorists.

The now-defunct crypto lender Celsius Network faces allegations that the supposed distinction between its UK and US entities was a “sham.”

Cryptocurrency exchange bitFlyer USA has been fined $1.2 million by the New York State Department of Financial Services (NYDFS). 

Researchers from Indiana University and the University of Maine have proposed a new tax framework for cryptocurrency losses in the United States. 

NFT

NFT startup Cryptoys unveiled their newest NFT collection based on the massive media franchise on May 4th (aka Star Wars Day). 

Web3

CoinMarketCap has partnered with Web3 entertainment company HELLO Labs and AltCoinDaily to create “Killer Whales,” the world’s first globally broadcasted Web3 television show.

The NEAR Protocol has partnered with Shemaroo Entertainment to promote Web3 adoption in the Indian media and entertainment market. 

Security

Blockchain security firm CertiK has revealed that it has frozen around $160,000, which was stolen during the Merlin DEX rug pull last week. 

A crypto educational project, XIRTAM, recently conducted a rug pull, with the project team pulling nearly 2000 ETH out of the raised funds on the 3rd of May. 

The TON Foundation has enlisted Chainalysis, ensuring round-the-clock support for swift fund recovery in case of hacks or exploits.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.