Coinbase to support Polygon token upgrade from MATIC to POL

Crypto exchange Coinbase said it would support the Ethereum layer-2 network Polygon planned token upgrade from MATIC tokens to the new Polygon Ecosystem Token (POL).

During the migration, sending and receiving MATIC on the Polygon network will be disabled between Aug. 26 and Sept. 10. This measure aims to ensure a smooth transition from MATIC to POL.

Binance CEO Addresses Allegations of the Exchange Seizing All Palestinian Funds

The CEO of Binance has responded to allegations that the cryptocurrency exchange seized all funds from Palestinians at the request of the Israeli Defense Forces.

Ray Youssef, CEO of Noones, criticized Binance, accusing it of yielding to external pressures and engaging in discriminatory practices. He called for a boycott of Binance and supported platforms that prioritize user privacy and autonomy.

US crypto firms ramp up lobbying efforts, expenditures up 1386% over 7 years

A recent study has revealed that US crypto companies have significantly increased their lobbying efforts, with expenditures rising by 1386% from 2017 to 2023.

According to data compiled by Social Capital Markets, crypto firms spent $40.42 million lobbying for regulatory changes during 2023 alone, signaling the growing importance of government relations in the industry.

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Ripple Co-Founder Chris Larsen Leads $10 Million Round for DeFi Protocol Yellow Network

Yellow Network, a decentralized clearing network for digital assets, has closed a $10 million seed round led by Ripple co-founder Chris Larsen.

The company said it'll use the fund to help the company address key challenges in decentralized finance (DeFi) trading, including liquidity fragmentation, scalability, and counterparty risks.

DeFi lending protocol Sky to drop wrapped Bitcoin after governance vote

Decentralized finance pioneer Sky, formerly Maker, is forging ahead with a plan to offload wrapped Bitcoin collateral from the platform.

Following a governance vote that ran for three days and closed on Sept. 19, the DeFi lending and borrowing platform has ratified to remove its exposure to wrapped Bitcoin (WBTC).

Crypto Trading Volumes Double After Lifting of Ban in Bolivia

According to data from the Central Bank of Bolivia, operations with crypto assets rose in the last three months after the institution lifted a blanket ban on using the banking system for these transactions.

Volumes doubled on average, with stablecoins leading the way and transaction numbers also rising.

Blockchain activity surged by 70% in Q3 2024, driven largely by a 71% increase in AI-related decentralized applications, reaching a record 17.2 million daily unique active wallets

Key contributors include platforms like Data Intelligence Network (DIN) and Alaya AI. Meanwhile, DeFi experienced a decline, with Ethereum's total value locked (TVL) dropping by 20%.

In contrast, Layer-1 blockchains Sui and Aptos saw strong performance. NFT trading volume also plummeted by 60% during the same period.

Uniswap Reveals Plans to Launch Ethereum Layer-2 Network Unichain

Leading Ethereum decentralized exchange Uniswap announced plans Thursday to launch its own layer-2 network called Unichain, which will be built on Optimism tech.

Uniswap Labs framed the move as one to cut costs, improve transaction speeds, and boost liquidity across various chains. Created by the primary developer of Uniswap, the largest decentralized exchange (DEX) on Ethereum, the new layer-2 solution will aim to create a network of interoperable networks through its use of the Optimism Superchain.

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US spot bitcoin ETFs reach highest recorded total asset value after six-day inflow streak

The twelve US-based spot bitcoin exchange-traded funds have set a new record, logging the highest total net asset value since the launch of the funds in January.

Summed together, the funds now hold over $66.1 billion worth of bitcoin, according to SoSoValue data, surpassing the prior record of $62.6 billion from early June. The value held in the ETFs represents 4.89% of bitcoin's total market cap.

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Ramaswamy's Strive launches wealth management arm to bring Bitcoin to standard portfolios

Strive Enterprises, an asset manager co-founded by Trump surrogate and onetime Republican candidate for President Vivek Ramaswamy and businessman Anson Frericks, launched its new wealth management business on Friday.

The wealth management arm's focus is "...integrating Bitcoin into standard portfolios of everyday Americans as a hedge against...unsustainable global debt levels, rising fixed income yields, long-run inflationary pressures, persistent geopolitical pressures, and potential restrictive monetary controls," a press release states.

Ethereum Foundation launches Mekong Testnet ahead of Pectra upgrade

The Ethereum Foundation has introduced the Mekong Testnet, a short-term testing environment designed to allow developers to explore new features from the upcoming Pectra upgrade before its mainnet release. In a blog post on Nov. 7, the Foundation said the Mekong Testnet incorporates all Ethereum Improvement Proposals (EIPs) intended for Pectra.

These proposals focus on enhancing various aspects of the Ethereum network, including user experience (UX), staking processes, and deposit and withdrawal mechanisms.

Bitwise acquires Ethereum staking service Attestant, boosting AUM to $10 billion

Bitwise Asset Management has acquired Attestant Limited, an institutional-grade Ethereum (ETH) staking provider, in a deal that boosts the firm’s total assets under management (AUM) to over $10 billion, according to a Nov. 13 press release.

The acquisition allows Bitwise to add Ethereum staking to its lineup of exchange-traded products, private funds, and hedge fund solutions.

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Ethereum DeFi TVL hits 2-year high as activity on platforms like Uniswap, Aave soars

Ethereum’s DeFi sector is experiencing a revival, fueled by renewed market enthusiasm following Donald Trump’s election victory. These numbers come as key players like Aave and Uniswap have also achieved significant milestones during this bullish wave.

Their rising activity highlights the increasing appeal of DeFi solutions as investors and users flock to platforms that offer innovative financial tools and opportunities.