🚨 The Financial Times publicly apologises to its readers for 14 years of negative coverage of cryptocurrencies.

"We are sorry if at any time in the last 14 years, you have chosen based on our coverage not to buy something that has increased in number. It's cool when the numbers go up. And we are sorry if you misunderstood our crypto cynicism as a statement of support for traditional finance, because we hate it too"

https://www.ft.com/content...

🇮🇳 India Considers Banning Bitcoin, ETH in Favor of Its CBDC.

According to an Indian official, “CBDCs can do everything that cryptocurrencies do.
In fact, CBDCs have more advantages than cryptocurrencies, without the risks associated with private cryptocurrencies.”

The government will make a final decision after extensive consultation.

💬 Tether CEO Paolo Ardoino predicts that the United States will be the first to regulate cryptocurrencies.

He connected via video to DC Fintech Week, a conference in Washington, to explain how Tether is cooperating with global governments.

“There is no place like the United States.”

“I think it’s very, very important that sensible crypto and stablecoin regulations come to fruition in a way that will protect end users.”

🚨 Grayscale places $Doge , Worldcoin, $Pyth and $Rune on a list of 35 cryptocurrencies with high potential.

Grayscale has listed 35 cryptocurrencies broken down into 5 main categories:
🔹 Coins
🔹 Smart Contract Platforms
🔹 Finance
🔹 Culture
🔹 Public services.

Grayscale is considering potentially including them in its selection of crypto investment products.

🚨 🇦🇪 The Central Bank of the United Arab Emirates (CBUAE) has given its approval to the AED Stablecoin, which could become the first regulated stablecoin pegged to the dirham.

Once fully approved, it will serve as a local trading pair for cryptocurrencies and can be accepted by traders.

🇺🇸 A division of the U.S. Department of Homeland Security focused on cybercrime said it has prevented more than 500 ransomware attacks and seized billions of dollars in cryptocurrency since 2021.

Homeland Security Investigations investigates cybercrime and transnational illicit activities and notifies government agencies, businesses, and other potential victims that an extortion event is imminent.

HSI is said to have prevented 150 ransomware plots between October 2023 and September 30, 2024.
537 intrusions have reportedly been disrupted since its creation in 2021.

HSI has reportedly seized $4 .3 billion in cryptocurrency seizures since 2021, including $180 million last year.

Assets are recovered mainly through crypto exchanges, when hackers are arrested.

"There are definitely groups that we have our eyes on. There are gangs that are active outside of the United States that are continually looking for ways to obtain cryptocurrencies."

🪶 Robinhood launches crypto transfers in Europe.

Customers can now deposit and withdraw over 20 cryptocurrencies, including BTC, ETH, SOL, and USDC.

“With the launch of crypto transfers in Europe, we are making self-custody and entry into DeFi simpler and more accessible for our customers”
says Johann Kerbrat, VP and GM of Robinhood Crypto

🇯🇵 Japan plans to cut taxes on cryptocurrencies.

The review will take place in the coming months and this could pave the way for domestic funds investing in digital assets.

PayPal, one of the world’s largest financial platforms, continues its mission to deliver blockchain-based services to users and businesses alike.

On September 25, 2024, PayPal announced it would be enabling U.S. merchants to buy, hold, and sell cryptocurrency assets within their business accounts. The move is the latest in a slew of updates made by PayPal as the TradFi giant continues to embrace the cryptocurrency industry.

U.S. Businesses Can Now Store Funds Onchain
Following the successful launch of crypto services for individual users, PayPal remarked that businesses were eager to meet user’s growing demand for more comprehensive crypto services.

"Since we launched the ability for PayPal and Venmo consumers to buy, sell, and hold cryptocurrency in their wallets, we have learned a lot about how they want to use their cryptocurrency… Business owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We're excited to meet that demand by delivering this new offering, empowering them to engage with digital currencies effortlessly." - Jose Fernandez da Ponte, Senior Vice President of Blockchain, Cryptocurrency, and Digital Currencies, PayPal.

PayPal’s commitment to providing merchants with expanded crypto services and flexibility goes beyond buying and selling digital assets. Merchants can now withdraw cryptocurrencies to external onchain wallets.

While PayPal has stipulated that this feature will be limited to “eligible” wallets, the move also opens the door to more businesses becoming involved in DeFi. For example, businesses holding capital might be able to lend out assets in various onchain lending protocols, earning additional yield on a merchant’s treasury.

$PYUSD Solana Supply Down 40% Since ATH
Since launching on Solana on May 29, 2024, $PYUSD enjoyed meteoric growth. Spurred on by generous liquidity provision incentives, $PYUSD’s Solana-based supply surged to over 663.4M tokens based on Step Finance data. This eclipsed Ethereum’s $PYUSD supply, making Solana the unofficial home of PayPal’s crypto services.

However, as $PYUSD reward campaigns have slowed and market conditions improved, the supply of PayPal USD on Solana has declined. At its highest point on August 28, 2024, Solana hosted $PYUSD 65.79% supply dominance.

Based on DeFiLlama data, that figure has since fallen to just 50.4%, with PayPal USD’s Solana-based supply currently sitting at 354M.

It's unlikely that PayPal merchants based in the U.S. will rush to bring their stablecoin holdings onchain and deploy them in Solana DeFi protocols. However, the move highlights PayPal’s willingness to respond positively to customer feedback and integrate blockchain technology into its expansive product suite.

🚨 Bitwise's CIO says 'the most powerful people in the financial industry are investing in cryptocurrencies'.

#Bitcoin

🚨 📈 Société Générale deploys its stablecoin $EURCV on #Solana to take advantage of its speed and reduced costs.

Initially deployed on #Ethereum , EURCV had a limited start, CEO Jean-Marc Stenger emphasizes that #Solana will open new opportunities for decentralized finance.

Another step towards the integration of banks into the world of cryptocurrencies. 💶

$SOL #Stablecoin

🇨🇭 The Swiss Stock Exchange, the third largest in Europe, is considering creating a cryptocurrency exchange.

According to one of its managers, "cryptocurrencies have become a recognized asset class" ✅

Mea culpa: SEC “regrets” having maintained confusion around the nature of certain cryptocurrencies.

In a complaint against #binance , the SEC admits that it regrets any confusion caused by the use of the term "security."

The admission comes as SEC Director Gary Gensler is under pressure, with critics including the presidential candidate realDonaldTrump calling for his replacement 🔄

This recognition could herald a change of direction for the regulation of cryptocurrencies in the United States 🇺🇸

🚨 According to Vitalik Buterin, solo staking is the key to Ethereum's security.

Vitalik Buterin discussed the risks posed by centralized entities and the role Solo Stakers play in protecting the network from attacks, to ensure its resilience and long-term viability.

Solo stakers are individuals who stake their cryptocurrencies without going through third-party services, centralized entities, or staking pools.

Russia Will Establish Cross-Border Cryptocurrency Payment Regulations By November

Anatoly Aksakov, Chairman of the State Duma's Financial Markets Committee, announced that the Russian Central Bank and Ministry of Finance are working on regulations for cross-border cryptocurrency payments. The government aims to finalize these regulations by the end of November.

Initially, the Russian government will test the cryptocurrency payment mechanism under an experimental legal regime (ELR). This means only selected participants, such as credit institutions and banks, will be involved in the process. The goal is to minimize risks and develop regulations to protect the market from fraud. Aksakov noted that companies are already using cryptocurrencies for import and export payments, with transaction volumes expected to reach billions of dollars. He emphasized the need to limit the number of financial institutions participating in the initial phase to better understand the market and develop effective regulatory measures.

🇺🇸 Cryptocurrencies were not mentioned during the debate between Kamala Harris and Donald Trump tonight.

The latter, however, saw its rating drop by 3% on the Polymarket prediction market, compared to a 3% increase for Kamala Harris 📊

🚨 Dominance of #Bitcoin still on this trendline.

Bitcoin Dominance Decline: This is when Bitcoin's share of the total cryptocurrency market cap declines, often because #altcoins s are gaining value or popularity more quickly.

Altseason: This is a period where #altcoins performs much better than #Bitcoin , with prices rising sharply for these cryptocurrencies.

PS: a decrease in dominance does not in any way mean a decrease in the price of #Bitcoin .

#Altseason Tick, Tock ⏳

🇺🇸 Donald Trump: "Instead of attacking the industries of the future, we will embrace them, including making America the world capital of cryptocurrencies and #Bitcoin ."

🚨💳 Mastercard launches a euro debit card allowing users to spend their cryptocurrencies directly from a non-custodial wallet at more than 100 million merchants

🇻🇪 Venezuelan President Nicolas Maduro says the country must "get back on the path to cryptocurrencies," without providing further details

🇺🇸 SEC warns #FTX against repaying creditors in stablecoins and other cryptocurrencies.

“The agency reserves the right to challenge transactions involving crypto assets” 💬

AUSTRALIA’S ’s BITCOIN ETF HITS MILESTONE WITH 125 BTC ACCUMULATION

Australia’s pioneering Monochrome Bitcoin ETF continues to make waves in the financial world by consistently accumulating Bitcoin, now holding 125 BTC as of the latest update. This achievement underscores the trust and optimism investors place in cryptocurrency, particularly Bitcoin, within regulated financial products.

As the first Australian ETF that directly holds Bitcoin, the Monochrome Bitcoin ETF offers an accessible way for investors to gain exposure to Bitcoin’s potential in Australian Dollars, without the complexities of direct cryptocurrency ownership. The ETF’s assets under management (AUM) have impressively grown, reflecting the rising investor confidence and the ongoing integration of cryptocurrencies into mainstream investment portfolios.

This marks a significant step forward in bridging traditional finance with the innovative world of digital assets.

🚨 Telegram reportedly holds $400 million worth of cryptocurrencies on its balance sheet, according to the Financial Times

Daily Memecoin Recap - August 26

Volume is scattered across $sol & $trx

A Social Experiment
$cabal -> hit $910k , good concept, 10 KOLs were airdropped 2% supply each to see who would dump and who would hold

Youtube Dog
$sdog -> hit $600k , "The first meme coin fully built on top of youtube video"

Vibes Gains Traction
$vibes -> $803k to $8 .4m (10.4x), blknoiz06 tweeted about it, seeing it all over the timeline

So Much Higher
$smh -> hit $2 .8m, bundled, a lot of KOLs on board, experienced team

Sol Payments In GTA 6
$krill -> hit $440k , CTO
- A leak came out
- The leak says that GTA 6 will have an in game currency "skrilla", which will allow users to directly transact with other plays
- The leak claims that it will be powered by the top 10 cryptocurrencies

More Cooks
$deebo -> $180k to $790k (4.4x), "Deebo the Bear", CTO
$degh -> $63k to $630k (10x), redacted dog meme
$dp -> hit $1 .3m, "Daquavious Pork", CTO, based on viral tiktok videos
$euphoria -> hit $550k
$3dog -> hit $545k , "3D Dog"
$sicko -> hit $370k , "Sicko Mode", cat meme
$perro -> hit $325k , dog meme

Did you cook? 🍜

🇷🇺 Russia will use a national payment card system to exchange rubles for cryptocurrencies starting September 1, according to Bloomberg

🗞️ Where do people go to look for information about cryptocurrencies?

A survey by coingecko reveals that most members of the crypto community go to social media instead of news sites.

🥇 X
🥈 Youtube
🥉 Telegram

The first 3 represent 73.8%

🤔 Institutional investors reveal important positions in #Bitcoin spot ETFs.

Should we see it as a "promising signal" for the #cryptocurrencies market?

📊 DeFi dominance, which measures the market capitalization of DeFi tokens relative to the rest of cryptocurrencies, recently hit a three-year low of 2.84 %)

The US Democratic Party Platform 🇺🇸 DOES NOT MENTION ANYTHING related to #Bitcoin or cryptocurrencies ‼️👀

Now we have a little more clarity on what their interests are NOT...

⚠️ ATTENTION: Cardano #ADA has just FALLEN BELOW the Top 10 cryptocurrencies by market capitalization after correcting 25% in the last month!!️ 👀