Crypto Bytes: Top 10 Breaking News from Cryptoverse 

  1. South Korean crypto exchange Upbit halted SSX token deposits and withdrawals after the project’s developers raised concerns about a $10.2 million theft. 730 million Somesing (SSX) tokens—worth over $10.2M—were compromised.
  1. Binance, a significant shareholder in the Korean cryptocurrency trading platform Gopax, plans to cut its ownership of the exchange within the next one to two months in order to resolve concerns with reporting adjustments to virtual asset business operators (VASPs).
  1. The Securities and Futures Commission (SFC) issued a warning, designating the Floki and TokenFi staking programmes as “suspicious investment products,” prompting the Floki Inu coin team to decide to discontinue them in Hong Kong.
  1. The $30 million fundraising proposal put up by the dYdX Foundation is up for vote among dYdX tokenholders, and it is expected to be approved.
  1. SHIB reports an incredible increase in the Shiba Inu burn rate by an unbelievable 140000%. Investors saw more than 61 million SHIB tokens erased in a single day, indicating a passionate burning frenzy for the meme coin.
  1. In order to comply with Dutch legislation, cryptocurrency exchange Bitpanda has decided to “off-board” Dutch residents from its platform. The business made this announcement via email on Tuesday.
  1. Fintech Provider Portal Raises $34M Seed Round for Bitcoin-Based Decentralised Exchange Portal seeks to provide a decentralised architecture that displaces middlemen, who increase the risk of hacks, and allows for peer-to-peer trading of Bitcoin across many blockchains.
  1. Invesco and Galaxy Asset Management have reduced the cost for its spot bitcoin exchange-traded fund (ETF) from 0.39% to 0.25%. With this change, the sponsor fee for the Invesco Galaxy Bitcoin ETF (BTCO) is now comparable to that of the majority of its peers.
  1. Coinbase will now charge commissions for net conversions from USD Coin to US dollars that total more than $75 million in a 30-day period. Members of the Tier 1 and Tier 2 Coinbase Exchange Liquidity Programme will be exempt.
  1. Outflows of GBTC fall 70% from their peak as Bitcoin exchanges dump BTC. According to research, Bitcoin ETFs—including GBTC—might soon start to see net inflows as exchanges’ BTC balances return to their declining trend.

Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.

Author: Mehar Nayar

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