Bifrost, Coinbase Cloud collaborate to offer cross-chain liquid staking on Kusama

Cross-chain liquidity provider Bitfrost has collaborated with Coinbase Cloud to offer its liquid staking service on the Kusama network, according to a Sept.6 announcement. Bifrost was built using the cross-consensus messaging (XCM) system which allows for easier transfer of liquidity for assets staked across the Polkadot ecosystem. The collaboration will see Bifrost leverage Coinbase Cloud‘s…

Virtuzone, Binance enter partnership to foster UAE crypto adoption

Virtuezone has partnered with Binance to use its payment gateway to accept crypto for its business formation services across the UAE, according to an Aug. 29 press release. The companies said the partnership’s goal is to boost the country’s crypto adoption rate. Virtuezone is an end-to-end business service provider that helps companies entering the UAE…

Research: Diamond hands are at an all-time high

Determining the strength of the crypto market requires looking at more than just Bitcoin’s price. Addresses holding BTC as a long-term investment represent the foundation of the Bitcoin market and hold the fort in times of high volatility. The amount of BTC held as a long-term investment can be determined by how often its circulating…

Research: Bear market cycles see long-term holders capitulate and then accumulate

Determining the length of a market cycle requires looking at the past behavior of its participants. When it comes to Bitcoin, there are two major currents that change the direction of its price movements — long-term holders (LTHs) and short-term holders (STHs). Long-term holders are defined as addresses that have held Bitcoin longer than 155…

Singapore-based Hodlnaut freezes customer accounts, drops license application

Singapore-based crypto lending platform Hodlnaut announced a freeze on withdrawals citing declining market conditions. Holdnaut added that it has withdrawn its license application from the Monetary Authority of Singapore (MAS). Dear users, we regret to inform you that we will be halting withdrawals, token swaps and deposits immediately due to recent market conditions. We have…

Arthur Hayes predicts Ethereum will reach $5K after merge if Fed pivots

BitMEX’s founder Arthur Hayes has predicted that Ethereum’s (ETH) price could rise to $5,000 if the merge upgrade is successful and the Federal Reserve goes ahead with its pivot. Hayes also revealed that the current price of Ethereum represents a tremendous buying opportunity for investors as it is selling 76% below his model price of…

NYDFS slams Robinhood’s crypto unit with $30M fine

The New York State Department of Financial Services (NYDFS) imposed a $30 million fine on the crypto trading unit of Robinhood on Aug. 2. The fine is due to an alleged violation of cybersecurity and anti-money laundering regulations. According to the regulator, the Bank Secrecy Act and anti-money-laundering compliance programs at Robinhood were “insufficiently staffed.” Adrienne A….

Socios.com invests $100M to accelerate Web3 innovations for FC Barcelona

Socios.com is investing $100 million in Barca Studio for a 24.5% stake and aims to accelerate blockchain, non-fungible token (NFT), and digital assets innovation for FC Barcelona. Barca Studios was launched in 2019 as the club’s platform for creating and distributing video and audio content. The partnership with Socios.com will deliver more NFT and metaverse-related…