NEW: #Bitcoin   has now set ALL-TIME HIGHs against 9 out of the 10 top currencies in 2024 🔥

What happened in Crypto in the last 12h?🚨

- Binance Futures NEXT $AGI
- $CYBER Layer 2 & Staking
- $PROM zkEVM L2
- $FLOKI Staking TVL $500M
- $ATOM Gaia v15 Mainnet
- $CFX AxHKD Stablecoin
- $GNO Gnosis 3.0
- $TRU Increasing staking reward

👇

• Binance Futures NEXT voting is ongoing. 1st $AGI, 2nd $BABYDOGE, 3rd $BONE.

• $ATOM - Cosmos will be upgrading its Gaia v15 mainnet on March 20.

• $CYBER - CyberConnect will launch a modular L2 network and introduce $CYBER staking function.

• $CFX - Conflux Network has announced its assistance in beta-testing the AxHKD, a HKD-backed stablecoin.

• $CRO - Cronos teases upcoming release of intriguing governance drafts next week.

• $FLOKI - Floki's Staking TVL surpasses $500M, nearly doubling compared to last week.

• $GNO - GnosisDAO has released the Gnosis 3.0 Vision & Roadmap.

• $PROM - Prom has unveiled its zkEVM L2 solution.

• $MINA - Mina Protocol plans to share milestones of the Berkeley mainnet upgrade on March 13.

• $STRAX - Binance will support the Stratis Token Swap and Redenomination plan. Announcements expected from Upbit and Bithumb too.

• $UFT - Unilend proposes a staking rewards program on the UniLend Finance v1 platform.

• $VANRY - Vanarchain teased an announcement.

• $TRU - TrueFi's vote on increasing $stkTRU staking rewards ends soon.

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#BTC & #INJ New High ..

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Grayscale has filed for the 'Bitcoin Mini Trust' which would be seeded partly from the GBTC Trust.

The Bitcoin Mini Trust will have competitive fees compared to other Bitcoin ETFs.

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Bitcoin maintains its dominance in 2024 ETF flows so far

Net Bitcoin ETF flows were negative for the second day in a row, a combination of increased outflows from Grayscale and lower demand for the new ETFs in the US

Central Banks around the world are building gold positions at the fastest pace in at least the last half century

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Crypto Withdrawals:
Why are Indian crypto exchanges selective in allowing crypto withdrawals?

I’ve been seeing a lot of people asking questions around this. There has been a lot of confusion regarding crypto withdrawals.

The major reason for many crypto exchanges in India being selective with enabling crypto withdrawals is due to the compliance risk attached with it.

Here’s the scenario and unfortunately there’s no easy solution to this scenario.

1. Crypto exchange performs KYC and AML checks on customer X
2. Customer X clears this process successfully (KYC is genuine)
3. Customer X deposits INR 1L
4. Customer X buys crypto and withdraws it
5. Law enforcement gets a complaint from Person A that Customer X cheated them of INR 1L
6. Law enforcement checks bank account of Customer X and realises that Customer X transferred INR 1L to exchange account
7. Law enforcement freezes INR 1L in crypto exchange bank account
8. Crypto exchange checks Customer X crypto account but all the crypto has been withdrawn.
9. When law enforcement finally finds Customer X, it realises that Customer X has no idea as they simply did KYC but the account was controlled by someone else who gave them INR 100 to complete account opening.
10. The money of crypto exchange is now stuck.

This is one of the major risks involved in crypto withdrawals.

The good thing is that at WazirX we’re rolling out multi level KYC (it’s under testing).

With multi level KYC, we will be able to build more confidence on the customer profiles. Based on this increased confidence we will be able to roll out crypto withdrawals to a larger number of customers.

Crypto only foreign exchanges don’t need to worry about these scenarios since they don’t accept fiat. Hence opening crypto withdrawals is straightforward.

Indian crypto ecosystem has its own set of unique challenges. Over time we will sail through these issues as we learn and get better at navigating these hurdles.

Hope this clears some of the confusion.

tamilbtc.com/wazirx

JUST IN: 🇬🇧 London Stock Exchange to launch market for #Bitcoin    exchange traded notes on May 28.