NewsBriefs - Wrapped Bitcoin ownership change sparks competition for $9bn market share

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Wrapped Bitcoin ownership change sparks competition for $9bn market share

BitGo's plan to transfer control of Wrapped Bitcoin (WBTC) has sparked concern among DeFi protocols, leading to potential market shifts. Competitors are eyeing the $9bn WBTC market, seeing an opportunity to bring Bitcoin into DeFi. Decentralized alternatives are emerging, promising more secure and ideologically aligned solutions. Adoption strategies include protocol integration and innovative staking solutions. The shift could potentially inject a significant portion of Bitcoin's $1.2 trillion market value into DeFi, despite past setbacks and uncertainties about demand for Bitcoin on Ethereum.

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Nov 19, 6:31 PM Coindesk

Bitcoin reaches new all-time high of $93,750 as spot ETF options launch

Bitcoin hit a new all-time high of $93,750 as spot Bitcoin exchange-traded fund (ETF) options were launched on Nasdaq. These options have drawn significant attention, offering investors increased flexibility and the potential for high-volume exposure. Most of the trades were call options, indicating optimism for further price increases. Analysts highlighted that ETF options enhance market sophistication and attract institutional investors by offering greater flexibility.

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Nov 19, 7:30 AM Coindesk

Gemini launches operations in France ahead of EU's MiCA regulation implementation

Gemini, a New York-based crypto exchange, has commenced operations in France, allowing users to deposit, trade, and store digital assets. This strategic move occurs just weeks before the EU's Markets in Crypto Assets (MiCA) regulations are set to be enforced, facilitating potential expansion within the EU. The company, registered under France's regulatory framework, aims to leverage upcoming MiCA rules to extend operations across the EU, enhancing accessibility for institutions and individuals to engage with digital assets.

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Nov 18, 2:00 PM Coindesk

Lido co-founders to challenge Sam Altman's World Network with new crypto identity platform Y

Lido co-founders are set to launch a new crypto identity platform named Y to compete directly with Sam Altman's World Network. Unlike World, which utilizes biometric iris scans, Y will rely on user's online activity traces for authentication, offering a privacy-focused alternative. This new platform is highlighted in an internal document from Cyber Fund, aiming to use World Network's privacy issues and user recruitment controversies as leverage in gaining users. Y also plans to integrate the Ethereum Attestation Service for a secure verification process.

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Nov 18, 1:29 PM The Block

Ethereum-compatible Layer 1 Monad begins rolling out testnet

Monad has started the phased rollout of its testnet, following the launch of Monad’s devnet that achieved 10,000 transactions per second. Designed with a revamped EVM architecture for improved transaction throughput, Monad offers up to 10,000 TPS and instant block finality. The network supports easy migration for Ethereum developers and utilizes a network token for transaction and execution costs. Monad Labs recently secured a $225 million funding, affirming strong investor support.

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Nov 18, 1:18 PM The Block

MARA to sell $700 million in convertible notes for Bitcoin acquisition and debt management

MARA Holdings plans to issue $700 million in convertible senior notes to institutional buyers, maturing in 2030. The proceeds will be used to repurchase existing notes due 2026 and to purchase additional Bitcoin for various corporate needs, including potential strategic acquisitions and debt repayment.

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Nov 18, 3:50 PM ACCESSWIRE

Cosmos Health adopts Bitcoin and Ethereum as treasury reserve assets

Cosmos Health Inc. has incorporated Bitcoin and Ethereum into its treasury reserve assets, expanding its investment strategy to include crypto. This decision aligns with the company's aim to diversify its balance sheet and capitalize on the growing global adoption of cryptocurrencies. Additionally, Cosmos Health is preparing to accept crypto payments, enhancing its customer service flexibility and maintaining its commitment to innovative investment approaches.

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Nov 18, 6:28 AM Coindesk

Metaplanet announces ¥1.75B bond sale to purchase more Bitcoin

Tokyo-listed Metaplanet plans to issue one-year bonds valued at 1.75 billion yen ($11.3 million) to finance the purchase of additional bitcoin. The company aims to increase its bitcoin holdings, which currently stand at 1,018 BTC, as a hedge against local economic instability. Since April, Metaplanet has been actively buying bitcoin and employing options strategies to enhance its investments.

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Nov 15, 2:30 PM Globe Newswire

Nasdaq-listed Thumzup Media adopts Bitcoin as treasury reserve asset

Thumzup Media Corporation, listed as TZUP on Nasdaq, has authorized the acquisition of up to $1 million in Bitcoin for its treasury reserves. This decision reflects the company's recognition of Bitcoin as a stable reserve asset, bolstered by the growing institutional support and its qualities of limited supply and resistance to inflation.

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Nov 15, 9:11 AM Cointelegraph

Korea's financial watchdog detects up to 600K KYC violations at Upbit during license renewal

South Korea's Financial Intelligence Unit (FIU) has identified between 500,000 and 600,000 potential Know Your Customer (KYC) violations at the cryptocurrency exchange Upbit. During its license renewal process, the FIU discovered that Upbit may have allowed the use of blurred IDs for customer verification, compromising the rigorous KYC standards required for crypto exchanges in South Korea. The breach could lead to substantial fines and affect Upbit's business license renewal.

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Nov 14, 2:52 PM The Block

Royal Government of Bhutan transfers 365 BTC to Binance amid BTC price rally

The Royal Government of Bhutan has transferred approximately 365 BTC, valued at $33.3 million, to a Binance deposit address as Bitcoin reaches new highs over $90,000. This movement follows a previous transfer of 929 BTC to Binance in October. Despite these transactions, Bhutan maintains a balance of over 12,206 BTC, positioning it as the fifth-largest nation-state holder of Bitcoin worldwide. Bhutan uses its hydroelectric resources to mine bitcoin, boosting its reserves while being eco-friendly.

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Nov 14, 1:58 PM The Block

Coinbase climbs US Apple App Store rankings, secures top spot in finance category

Coinbase significantly improved its position in the US Apple App Store, entering the top 10 following a rise in Bitcoin prices driven by pro-crypto policies from newly elected President Donald Trump. The app ranked 8th overall and first in the finance category, demonstrating a strong correlation between its app store ranking and Bitcoin market performance, which soared to new highs exceeding $93,000.

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Nov 14, 6:20 AM Crypto.com

Crypto.com acquires Australian brokerage Fintek Securities to expand financial product offerings

Crypto.com has acquired Fintek Securities Pty Ltd., an Australian brokerage with a Financial Services License, allowing it to expand its offerings to include derivatives, securities, and other financial products. This acquisition, regulated by the Australian Securities and Investments Commission, marks Crypto.com's continued expansion into traditional brokerage capabilities, following a previous acquisition of Watchdog Capital, LLC. CEO Kris Marszalek highlighted this step as part of Crypto.com's strategy to provide a comprehensive set of financial services to its users.

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Nov 14, 4:15 AM Cointelegraph

Phantom releases emergency update for iOS app after wallet resets impact users

Phantom, a provider of a Solana-based DeFi wallet, issued an emergency iOS update after users reported app resets that locked them out of their wallets, requiring recovery phrases to regain access. The company advised users to securely store their seed phrases and pushed a new update to prevent further issues. Responses on social media suggest some users experienced significant losses and were logged out or had their balances deleted following the update. Phantom, being a non-custodial wallet, offers limited recovery options for those who lost their seed phrases.

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Nov 13, 5:40 PM Cointelegraph

Silk Road founder Ross Ulbricht expresses hope for sentence commutation from Trump

Ross Ulbricht, the founder of Silk Road, currently serving a life sentence, expressed hope via social media that President-elect Donald Trump would commute his sentence. Ulbricht was convicted in 2015 for multiple charges including money laundering and narcotics trafficking. Despite prior advocacy and Trump's promises during his campaign, there is skepticism among some in the crypto community regarding Trump's commitment to fulfilling this promise.

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Nov 13, 11:01 AM The Block

Linea announces LINEA token launch for Q1 2025 and new governance association

Linea, incubated by Consensys, is set to decentralize further by establishing the Linea Association in Switzerland to govern its Layer 2 Ethereum network. The Association plans to launch the LINEA token by Q1 2025, advancing Linea's zkEVM mainnet development and decentralization via tokenholder governance. It aims to enable more autonomous community and developer involvement in the protocol's future, with tokens distributed to ecosystem contributors.

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