Digital money needs interoperable settlement rails, Lynq CEO says

Lynq CEO Jerald David has said institutional finance needs interoperable settlement systems capable of moving cash and collateral 24/7 as firms adopt several forms of digital money.  SummaryInstitutions are likely to use stablecoins, tokenized deposits, CBDCs, and traditional bank money.Separate payment systems can leave capital unavailable where institutions need it.The Bank of England is testing stablecoins and simulated digital pounds in one payment flow.David said settlement infrastructure must keep pace with markets that trade around the clock.  In comments shared with crypto.news, David said the Bank of Englands latest digital pound experiment gives an early indication of how institutional markets may use several forms of digital money instead of choosing one option.  “I do not expect a single form of digital money to replace all others,” David said.  “Stablecoins, tokenized deposits, tokenized money market funds, potentially CBDCs, and traditional bank money are all likely to have different roles depending on the counterparty, jurisdiction, and type of transaction.”  His comments follow an Aug. 12 report detailing how NOBO Finance, Dun & Bradstreet, and Polygon Labs joined Phase 2 of the Bank of Englands Digital Pound Lab. The consortium is testing whether a stablecoin and simulated digital pounds can handle separate parts of the same cross-border trade-finance

22 گھنٹے پہلےانڈسٹری

Ethena treasury company StablecoinX shares jump 12% after revealing 20% stake in ENA supply

Quick TakeStablecoinX reported a $34.2 million Q2 net loss, mostly driven by a $36.2 million digital asset impairment.Its ENA stash is worth over $250 million at current prices.  StablecoinX (USDE) shares jumped more than 12% in early trading Friday after the newly public Ethena-focused treasury company reported its first quarterly results, revealing it held roughly 20% of the total ENA supply.  StablecoinX (USDE) stock price chart. Source: Google Finance  The company holds approximately 3 billion ENA valued at more than $250 million at current prices. StablecoinX said the position was worth around $9.09 per share based on its 24 million Class A shares outstanding at quarter-end.  StablecoinX reported a $34.2 million net loss for the quarter, though nearly all of it was driven by unrealized losses on its ENA holdings.  The companys operating business is still in its early stages, generating just $62,372 in infrastructure services revenue during the final two weeks of June. Its decentralized verifier node has surpassed $3 billion in cumulative cross-chain volume, according to the release.  “Our first quarter end as a public company reflects the successful close of our business combination and our emergence as one of the first publicly traded companies providing public market investors and financial institutions with exposure

22 گھنٹے پہلےانڈسٹری

Fake LinkedIn Crypto Job Scams Have Cost $11.8M: Singapore

In briefSingapores police force and cyber security agency put losses from a scam using fake job offers and compromised software systems at $11.8 million.They describe a case in which a victim was approached by a bogus recruiter for a crypto firm and steered into a coding assessment run on a company laptop.The malware harvested a session token, which was used to bypass multi-factor authentication and open the victims Bitbucket account.  Scammers posing as recruiters for cryptocurrency companies have taken $11.8 million (S$15.1 million), using fake job offers to compromise their targets employers, according to a joint advisory from the Singapore Police Force and the Cyber Security Agency of Singapore.  Setting out how the scam works in a statement on Friday, reported by The Straits Times and Channel NewsAsia, the agencies said a victim was approached on LinkedIn by someone posing as a recruiter for a crypto company, then moved to email, where the sender used a spoofed domain closely resembling a real firms. Several interviews followed on Google Meet. The interviewer kept their camera off throughout.  The victim was then sent to a spoofed website to complete a technical coding assessment, and did so on a company-issued device, downloading malicious software in the

23 گھنٹے پہلےانڈسٹری

Hyperscale Data sells 685 BTC, redirects $43M toward Michigan data center

Hyperscale Data has sold about 685 Bitcoin for approximately $43 million, cutting its holdings to around 275 BTC as it directs more capital toward its Michigan data center.  Hyperscale Data said Friday that most of the proceeds will be used for the continued development and expansion of the Michigan facility, while part of the cash will give it more room to manage debt, equity and its overall capital structure.  The transaction leaves the NYSE American-listed company with roughly 275 BTC on its balance sheet. Management described the sale as an allocation of capital at its current stage of development and said Bitcoin remains part of its long-term strategy.  Executive Chairman Milton “Todd” Ault III said the company plans to continue mining Bitcoin and expects to use future mining production and available capital to rebuild its holdings over time.  “Bitcoin has been an important part of Hyperscale Datas strategy and we expect it to remain an important part of our strategy going forward,” Ault said. “We intend to continue mining Bitcoin and, over time, expect to use mining production and available capital to rebuild and increase our Bitcoin position.”  At the current stage of the Michigan project, however, Ault said management believes part of the Bitcoin

23 گھنٹے پہلےانڈسٹری

Binance to stop HTX transactions from Aug. 23 over sanctions

Binance has said it will stop processing transactions involving HTX and 10 other listed crypto platforms from Aug. 23 as new sanctions and regulatory restrictions take effect.  Binance said in a Friday announcement that the restrictions will apply to Rapira, Aifory Pro, ABCeX, WhiteBird, NoOnecrypto INC., Tradex, Monease Ltd, BitPapa, Exnode, HTX, formerly Huobi, and EXMO. The exchange cited recent regulatory developments for the decision.  Transactions involving any of the affected providers could be held for compliance checks once their respective restrictions take effect. Binance said wallets may also face restrictions while reviews remain in progress.  Users were advised against sending assets directly or indirectly to the listed providers after the cutoff dates, since transactions involving them could trigger further compliance action under Binances terms.  Binance restrictions will cover 11 platforms from Aug. 23  The Aug. 23 cutoff covers a group of exchanges and crypto service providers that have recently faced sanctions-related restrictions in Europe, including HTX, EXMO, Rapira, BitPapa and Aifory.  Several of the names overlap with the European Unions latest sanctions measures against Russia. The bloc adopted its 21st sanctions package on July 23, expanding transaction restrictions against financial institutions and crypto services that officials accused of helping Russia bypass existing sanctions.  As crypto.news previously

23 گھنٹے پہلےانڈسٹری

Solanas fee overhaul increases burn and makes resource hogs pay

Solana is preparing to change how it charges for computing resources on the network.  Solana Improvement Document (SIMD-0553) would make its most resource-intensive users pay more while cutting the costs for simpler transactions. As a bonus, it would increase SOLs burn rate in stages — and one day could even help make it deflationary.  Cavey, a researcher at Solana infrastructure firm Temporal and author of the proposal, tells Magazine that fees currently dont reflect the real costs:  “If I submit a transaction that does nothing versus a transaction that burns 200 million CPU cycles, Im charged the same amount.”  This proposal would change that by tying fees more closely to the resources each transaction requests. Rather than going to validators, the resource fee would be burned, removing SOL from circulation.  Of course, reducing validator income has not been welcomed by all. Contributor bji argues on github:  “I like the aspect of this proposal that gives tx submitters extra incentive to be accurate with CU limits. Everything else I‘m meh to negative on. ’More burn should not be a goal. Validator incomes should not be arbitrarily reduced.”  SIMD-0553 entered Solanas new onchain governance process in early August and cleared its initial support phase on August 4.  It is currently

23 گھنٹے پہلےانڈسٹری

Israels largest bank to offer crypto trading with Galaxy

SummaryBank Leumi customers will be able to buy, hold and sell bitcoin, ether and solana through the Leumi Trade app.Galaxy will provide the trading and custody infrastructure, with the service expected to launch in early 2027.The planned launch would make Bank Leumi the first bank in Israel to offer digital asset trading directly to its customers.  Bank Leumi, Israels largest bank, will offer cryptocurrency trading to customers from early 2027 becoming the first Israeli bank to announce such a service.  Customers of Leumi and its mobile banking unit, Pepper, will be able to buy, hold and sell bitcoin , ether and solana (SOL) through a section of the Leumi Trade app, according to a Friday announcement.  Galaxy Digital (GLXY) will provide trading and services through GalaxyOne Institutional, its platform for banks and asset managers. Leumi has also signed an agreement to use Galaxys custody infrastructure, formerly known as GK8, to support the offering.  The tie-up gives Galaxy a banking partner in Israel and places Leumi among a growing group of financial institutions bringing crypto access inside customer platforms. By embedding trading within its capital-markets app, the bank is betting that clients will favor a regulated banking interface over standalone crypto exchanges.  Maya Ravia, Leumi‘s head

23 گھنٹے پہلےانڈسٹری

BTCC Exchange Announces Platinum Sponsorship of TOKEN2049 Singapore and Launches “0-Barrier Trading” Flagship Theme

BTCC, the world‘s longest-serving cryptocurrency exchange, announces its participation in TOKEN2049 Singapore 2026 as a Platinum Sponsor. Taking place October 7-8 at Marina Bay Sands, the world’s largest crypto event is expected to convene over 25,000 global industry leaders, investors, and enthusiasts.  As BTCC celebrates its 15th anniversary this year, the exchanges high-profile presence at TOKEN2049 signals the next chapter in its brand evolution: 0-barrier trading.  Theme of the Next Chapter: 0-Barrier Trading  BTCCs TOKEN2049 showcase centers on its commitment to making futures trading accessible, reliable, and cost-efficient. Driven by the core pillars of 0 Fees, 0 Friction, and 0 Panic, BTCC removes all barriers to trading, allowing cost-conscious traders to navigate global markets with confidence.  On-site, BTCC‘s booth at TOKEN2049 will bring its yearlong 0-Fee Festival campaign to life through a large-scale receipt-style installation designed for social sharing. Alongside the merch counter, the booth features a rotating, backlit cylinder that highlights the exchange’s core zero-barrier commitments.  Attendees can stop by to participate in interactive activities, engage with the team, and collect official BTCC swag bags.  The BTCC Traders Club  A key highlight of BTCC‘s presence at TOKEN2049 is the BTCC Traders Club. Styled around BTCC’s partnership with the Argentine Football Association (AFA), the exclusive private lounge

23 گھنٹے پہلےانڈسٹری

Ireland‘s New AML Strategy Brings ’Enhanced Checks on Private Crypto Wallets

In briefIreland published its first National Anti-Money Laundering Strategy on Thursday, with crypto-asset rules among the reforms it sets out.The final elements of the EU Transfer of Funds Regulation will bring enhanced checks on transfers involving private crypto wallets and stricter due diligence on overseas crypto firms.The strategy builds on a 30-point action plan published in June that promised enhanced safeguards around crypto-assets and digital finance.  Ireland published its first national anti-money laundering strategy on Thursday, including crypto measures targeting wallets held outside regulated firms.  Most of the EU Transfer of Funds Regulation has already been implemented in Ireland, with the Department of Finance saying that the remaining elements introduce new obligations for crypto-asset service providers, requiring “enhanced checks” on transfers involving private crypto wallets and stricter due diligence when dealing with overseas crypto firms.  That mechanism is the FATF travel rule, under which information on the originator and the beneficiary must accompany a transaction. The strategy document records that it arrived alongside MiCA, which created crypto-asset service providers as a category of regulated entity across the bloc.  Ireland gave crypto firms less room to adjust than most member states, allowing a 12-month grandfathering window against the 18 months the regulation permits, according to

کل 20:38انڈسٹری

Bitcoin eyes new August lows as Binance longs face ‘cleanout’

Bitcoin (BTC) long positions are “facing liquidation” as volatility shows signs that a range breakout is finally coming.  Key points:Bitcoin long positions face multiple threats as BTC price action heads toward new August lows, analyst warns.The correlation between Binance open interest and price reached 0.25 on Thursday as both fell.The Bitcoin bull market is not ready to make a comeback, CryptoQuant CEO Ki Young Ju says.  Bitcoin longs feel the squeeze as price drops  Insights published on onchain analytics platform CryptoQuant by community analyst BorisD on Thursday said that leveraged long BTC positions are being flushed out as BTC/USD targets month-to-date lows.BTC/USD one-hour chart. Source: Cointelegraph/TradingView  The analysis focuses on the relationship between price and open interest (OI) on Binance. OI represents total active derivative positions, both long and short, and reflects capital commitment in a given market.  While price has traded in a narrow range since June, CryptoQuant data show that Binance OI has gradually increased, reaching $8.15 billion on Wednesday as futures increasingly steer the market while spot traders sit on the sidelines.Bitcoin open interest on Binance. Source: CryptoQuant  With price now seeing downside volatility on lower time frames, the correlation between price and OI has entered a state of flux, potentially squeezing long

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