Some cryptocurrency companies have seen massive growth in the past few years and are now considering going public
Blockchain.com intends to go public in two years
Blockchain.com, one of the leading crypto trading platforms and wallet service providers, has announced its desire to become a publicly traded company. Macrina Kgil, Blockchain.com’s chief financial officer, told Fortune in a recent interview that the company is aiming for a public listing by 2023. The company has seen massive growth in recent years, with the CFO revealing that Blockchain.com had processed over $ 1 trillion in cryptocurrency transactions over the past decade. Blockchain.com joins a list of prominent crypto companies in an effort to go public. The cryptocurrency exchanges Binance and Kraken as well as the stablecoin issuer Circle have all expressed their desire to go public in the next 1 to 3 years.
Cream Finance becomes the latest DeFi protocol to be exploited
Another decentralized financial protocol (Defi) suffered an exploit this week that lost investors millions. Cream Finance announced earlier this week that it had lost $ 18.8 million to a flash loan attack. The DeFi credit log states that the hacker took advantage of a bug in the $ AMP token contract to carry out the hack. Cream Finance joins the long list of DeFi protocols that have suffered attacks in the past few months, with users losing millions of dollars in the emerging market. Cream Finance’s team said it will replace the stolen ETH coins and AMP tokens to ensure users don’t run into liquidity issues. The developers will set aside 20% of the log fees to repay the affected users and make sure everyone gets paid for what they lost. The DeFi market is relatively new and more needs to be done to provide adequate security for investors and market participants.
Twitter is working on a bitcoin tip feature and other address services
Jack Dorsey’s companies, Twitter and Square, have been heavily involved in the cryptocurrency space, particularly Bitcoin. Twitter is working on a new feature that will allow its users to tip each other using BTC. The social media beta test suggests the development team is working on the feature. The Bitcoin tipping service is expected to use the Lightning Network (LN) to process small BTC payments. The service is also expected to support both custody and non-custody bitcoin wallets.
In one separate reportTwitter is also said to be working on an interface that will enable users to add their Bitcoin and Ether addresses to their profiles on the social media platform. This address feature would make it easier for people to copy your BTC or ETH address and make payments. The idea behind the feature is to allow Twitter users to get tips in crypto through their Tip Jar service.
Singapore’s central bank warns of Binance.com
Binance is the world’s leading digital currency exchange and has been scrutinized extensively over the past few months. This time Singapore faces challenges. The country’s financial regulator, the Monetary Authority of Singapore (MAS), has put Binance.com on its list of investors. The list includes names of individuals and financial institutions that investors should avoid. These individuals and companies provide financial services without obtaining a license from the regulator and are therefore considered unsafe for Singaporeans. This latest development is a blow to Binance as the company has made efforts in recent months to hire former regulators to ensure that crypto exchanges work within the confines of the law.
FTX.US approves the acquisition of LedgerX, FTT token rises to a new all-time high
FTX is one of the fastest growing digital currency exchanges in the world, with the company growing exponentially over the past year. FTX.US, the U.S. branch of the cryptocurrency exchange, announced earlier this week that it had agreed to buy LedgerX. The acquisition is a big deal for FTX as LedgerX is a CFTC regulated digital currency and options exchange and clearinghouse. The acquisition of LedgerX should make it easy for FTX.US to offer derivatives trading services to its customers in the United States. The exchange will offer the service in a regulated manner to ensure it doesn’t get into trouble with the CFTC. The takeover is one of the key catalysts that drove the FTT token to a new all-time high yesterday. FTT, the native token of the FTX crypto exchange, hit a new all-time high yesterday at $ 66, cementing its place as one of the leading cryptocurrencies in the world. FTT is the second largest exchange token, just behind Binance’s BNB coin.
El Salvador is launching a $ 150 million Bitcoin trust fund to help launch
Bitcoin (BTC) will officially become legal tender in El Salvador on September 7th. However, the government has taken the necessary precautions to ensure that it runs smoothly. The government has set up a $ 150 million bitcoin trust to aid in the adoption process. Part of the funds will be used to give citizens $ 30 to download and use the Chivo Bitcoin wallet. In addition, the government has installed 200 Bitcoin ATMs across the country to make it easier for people to buy and sell BTC.
Metamask reaches 10 million monthly active users
The popular cryptocurrency wallet Metamask has exceeded 10 million active monthly users. The Ethereum-focused wallet has seen 1,800% growth over the past year thanks to increased interest in decentralized finance. The rising interest in non-fungible tokens (NFTs) is another big reason why Metamask is seeing a massive increase in its monthly active users.
Vast Bank is the first chartered bank in the US to offer Bitcoin services
Vast Bank broke the record as the first chartered bank in the United States to offer Bitcoin purchase and custody services to its customers. The bank’s CEO Brad Scrivner told Forbes earlier this week that increasing demand from their customers was the main reason for offering bitcoin services. The bank has received approval from the Office of the Comptroller of the Currency (OCC) and has discussed the matter with the Federal Reserve.