Record $113M BUSD stablecoin inflow shows Binance is serious about DeFi

New data from CryptoQuant, an on-chain analytics firm, shows $113 million worth of Binance USD (BUSD) has flowed into Binance exchange over the past week. This means BUSD stablecoin now has the highest potential buying power over all other USD-based stablecoins except for Tether (USDT). BUSD inflow to Binance. Source: CryptoQuant Binance’s new USD-backed stablecoin is ERC-20-based and was launched in 2019 in partnership with Paxos. Since then, BUSD has steadily been gaining traction as its volume increased and recently surpassed that of USD Coin (USDC) on Sept. 4.   Main…

Kiss front man Gene Simmons suggests he’s working to make crypto more accessible

Responding to a tweet from Cameron Winklevoss, co-founder of the Gemini crypto exchange, rock star Gene Simmons said he plans to make Bitcoin (BTC) and Ethereum (ETH) more easily accessible.  “It’s easier to buy Bitcoin and Ether if you are already in the old system,” Winklevoss said in a Sept. 15 tweet, summing up a rather long thread addressing racial bias, crypto and decentralized finance. “If you don’t have a bank account, it’s hard to get funds into crypto,” he noted, adding: “We need to change this.” Retweeting the post…

Tassat will be able to launch Bitcoin swaps after all, says CFTC

The United States Commodity Futures Trading Commission will still be allowing New York-based fintech firm Tassat to proceed with its Bitcoin swap contracts after failing to meet regulatory requirements. According to a Sept. 15 statement from the CFTC’s Division of Market Oversight (DMO), the regulatory body will not stop Tassat from launching a swap execution facility (SEF) in Q4 2020, even after the firm failed to renew its registration following 12 consecutive months without trading. “DMO will not recommend the CFTC commence an enforcement action against Tassat for failing to…

Venezuelans are running out of crypto P2P trading options

Due to the regulations and sanctions related to the U.S. Office of Foreign Assets Control, or OFAC, Paxful announced that they will no longer provide services in Venezuela, according to an announcement on September 14. In a statement sent to Cointelegraph, Paxful’s CEO, Ray Youssef, commented that they’ve tried for several months to find a way to maintain their operations in Venezuela, but “with current risks, we had no choice but to make this incredibly difficult decision.”  Ray also told Cointelegraph how the wind down of his company’s services will…

eToro, BlockFi & Nexo capitalize on Brave ads for ‘unmatched engagement’

According to Brave browser, businesses like eToro, BlockFi, and Nexo have achieved unprecedented results by advertising to the platform’s users. Considering the popularity of Brave within the crypto community, this does not come as a surprise. For instance, the crypto-lending platform BlockFi was able to reduce its customer acquisition costs by 75% with Brave ads. The campaign was also twice as effective as a Google campaign in terms of the percent of respondents who opened accounts. BlockFi’s marketing manager Nick Ries was quoted as saying: “Brave has proven to be one…

Unikrn ICO faces further SEC action

Unikrn, an initial coin offering, or ICO, from 2017, faces action from the U.S. Securities and Exchange Commision, or SEC.  The SEC has accused the startup of running its ICO without going through the proper legal channels, based on a Sept. 15 statement from the regulating body. The commission claims Unikrn offered an unregistered investment opportunity.  “Unikrn agreed to settle the charges by paying a $6.1 million penalty, substantially all of the company’s assets, to be distributed to investors through a Fair Fund,” the statement said.  Unikrn made headlines back in…

Polkadot indicator? Data shows Ethereum price follows it to the DOT

Market capitalization and ‘flippenings’ happen to be important reflections of value for many crypto pundits and investors. Anyone who’s been in the game since 2017 will recall the heated discussions revolving around the Ether (ETH) to Bitcoin (BTC) flippening and the same commotion was caused by Bitcoin Cash (BCH) and EOS flipping top blockchains as they moved into the top-5. Now traders’ attention has shifted to Polkadot (DOT) as the network is currently ranked top-5 cryptocurrency by market capitalization and it seems that its ascension to the top came out…

MIT scholar suggests ETC counters 51% attacks

The recent 51% attacks on Ethereum Classic (ETC) have raised fresh questions about the security of proof-of-work blockchains. Not only has ETC been attacked three times within a month, but these assaults have been enabled with rented hashrate power. One of these attacks cost OKEx $5.6 million as it paid out its customers in full. The major cryptocurrency exchange then threatened to delist Ethereum Classic if it doesn’t improve its security soon.  Some questions being asked last week were: Is this problem unique to Ethereum Classic, or are all PoW…

Bitcoin price charts hint $11K will likely cause trouble for BTC bulls

While Bitcoin (BTC) has been showing weakness in recent weeks as BTC price dropped from $12,000 to $10,000, some light at the end of the tunnel is showing up. The price of Bitcoin showed support at the psychological barrier of $10,000 and bounced numerous times as it’s already close to $11,000. Most importantly, can Bitcoin break through this crucial area and continue its bullish momentum? Bitcoin holds $10,000 to avoid any further correction on the markets The price of Bitcoin couldn’t hold above $11,100 at the beginning of September and…

Polkadot DeFi developers may soon get a new oracle provider with historic data

Distributed storage project Bluzelle will be collaborating with the Web3 Foundation to bring its oracle system for use in the Polkadot decentralized finance ecosystem. The project formally announced on Sept. 15 that it would integrate its services with the Polkadot network, specifically its price oracle solution that could be used by DeFi projects building on the network. Bluzelle is a distributed database system featuring a set of validators committing their stake to ensure the validity of the data and associated changes. The project has recently turned to the oracle space,…