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China has offered an inside view into the legal status of digital collectibles, including NFTs. The official view defines NFTs as both data and property. The commentary observes that stealing NFTs is punishable with theft sentences. The Chinese government has published a legal commentary on the status of digital collectibles, including NFTs. The commentary, published on the China Court Network website, offers the official view on the implementation of theft sentences for offenders caught stealing digital collectibles.  The text, as reported, stated that Chinese regulations classify digital collectibles in three different ways. The first category is considered electronic data from computer information systems and is viewed as theft under the country’s cybersecurity regime. The second category considers digital collectibles as digital property and states that theft will fall under property regulations.  The third category of digital collectibles s...

This week has been exceptionally bullish for many major assets in the cryptocurrency market and some of the less-expected cryptocurrencies, including Terra Classic (LUNC), which has managed to grow its market value by nearly 16% on its weekly chart and close to 30% in just one month . As it happens, the rebranded native asset of the disgraced Terra (LUNA) ecosystem has made a remarkable recovery, considering that the total value locked (TVL) on its chain in early August dropped to the lowest levels since its launch, sparking fears of its death. Positive influences Although its staking value has failed to make any significant progress since then, Terra Classic managed to keep its price relatively stable, returning into the green zone with its recent advances under the influence of positive developments around it and the optimistic sentiment in the wider crypto market. Specifically, among these positive developments is the recent announcement by one of the largest crypto exchanges ...

Investment banking firm UBS Group has partnered with rival HSBC to enable certain crypto-based ETFs for Hong Kong clients. Samsung Bitcoin Futures Active, CSOP Bitcoin Futures, and CSOP Ether Futures ETFs are part of the offerings. Hong Kong regulators are allowing retail investors to participate in spot cryptocurrency ETFs. On November 10, Bloomberg reported that the Swiss Investment banking company UBS Group AG has joined hands with competitors like HSBC Holdings Plc to offer trading of certain exchange-traded funds linked to crypto for their Hong Kong clients. This move aligns with the city’s efforts to promote itself as a hub for digital assets. On Friday, three crypto ETFs authorized by the Securities and Futures Commission (SFC) will be available to affluent clients on UBS’s Hong Kong platform, according to Bloomberg’s source. Furthermore, the source added that the Swiss bank has incorporated the Samsung Bitcoin Futures Active, CSOP Bitcoin F...

BlackRock takes initial steps toward an Ethereum ETF. BlackRock’s move signals the growing institutional interest in cryptocurrency investments. The SEC’s cautious stance on crypto ETFs presents regulatory challenges despite increasing industry enthusiasm. On Thursday, the website for Delaware’s Division of Corporations revealed the registration of an “iShares Ethereum Trust.” This move closely mirrors the steps taken by BlackRock in June when the company filed for a Bitcoin ETF, with a similar notice for the “iShares Bitcoin Trust.”  BlackRock has made first step towards filing for a spot Ether ETF. I just confirmed on the website myself. Nice catch by @SummersThings https://t.co/mLKIhKdiI6 — Eric Balchunas (@EricBalchunas) November 9, 2023 The iShares product, managed by BlackRock, holds a dominant position in the exchange-traded funds sector, boasting more than $2.3 trillion in assets under manageme...

During the four weeks of the first announcement of SpringX, a total of 243 valid applications from global entrepreneurs were received. Among them, 74 projects passed the initial screening by three fund investors, 40 projects passed the institutional interview, and 11 projects, after a joint interview by the founding funds SevenX Venture, Bixin Venture, and Generative Venture, entered SpringX01. The selection rate was only 4.53%. Picture source: The opening speech by SpringX founder Niels titled “How to Start with SpringX”. The tracks of the projects include: Infra, Game, Social, DeFi, NFT. Among them, 8 projects have been financed, and 3 projects have not yet been financed. We are also pleased to see that the founders of the projects are not only based in China, but also often reside in the Asia-Pacific region, North America, and Europe. The founding members graduated from well-known domestic and foreign universities, and basically have work experience in well-known Web2 and Web3 compa...

Join Idris Elba and the Stellar Development Foundation as they navigate bringing real-world change through blockchain technology. In a modern world where technology is advancing rapidly thanks to tools like blockchains and AI, there are still many places grappling with age-old problems. Poverty, lack of access to clean water or electricity, and financial exclusion are battles many communities still face daily. And while progress is being made, especially in connection to the United Nations’ Sustainable Development Goals (SDGs), some regions are still struggling, notably Africa and South America. Map of poverty levels across the world in 2023. Source: WorldPoverty.io Although we live in a highly digital age, the gap between the privileged and the underprivileged seems to widen. But to solve real-world struggles, we need real-world solutions. That's where the promise of blockchain technology has been highlighted. Unfortunately, much of the blockchain space is still dominated by spec...

A whale withdrew 274,236 AAVE tokens from Binance earlier today. Despite an increase in whale interest, AAVE still saw its price drop by 1.45% in the past 24 hours. The altcoin was at risk of falling below the $92.75 support level in the next 24-48 hours. The on-chain analytics platform, Lookonchain, shared in an X post earlier today that a whale has withdrawn 274,236 Aave (AAVE) from Binance. The withdrawn AAVE tokens were worth approximately $26.5 million. Lookonchain also stated that after the withdrawal, this whale became the largest individual holder of AAVE. Interesting! The whale has withdrawn 274,236 $AAVE($26.5M) from #Binance in the past 2 days. Becoming the 10th holder of $AAVE and the largest individual holder of $AAVE.https://t.co/2jZprTGnAr pic.twitter.com/tJKycq1Zqo — Lookonchain (@lookonchain) November 8, 2023 Despite the increased interest from whales, AAVE was one of the many tokens that saw their prices drop over the past 24 hour...

Robust BTC derivatives data indicates strong demand for leverage longs. Bitcoin (BTC) has been trading within a narrow 4.5% range over the past two weeks, indicating a level of consolidation around the $34,700 mark.  Despite the stagnant prices, the 24.2% gains since Oct. 7 instill confidence, driven by the impending effects of the 2024 halving and the potential approval of a Bitcoin spot exchange-traded fund (ETF) in the United States. Investors worry about the bearish global economic outlook Bears expect further macroeconomic data supporting a global economic contraction as the U.S. Federal Reserve holds their interest rate above 5.25% in order to curb inflation. For instance, on Nov. 6, China exports shrank 6.4% from a year earlier in October. Furthermore, Germany reported October industrial production down 1.4% versus prior month on Nov. 7. The weaker global economic activity has led to WTI oil prices dipping below $78 for the first time since late July, despite the potential ...

Despite the current slowdown, Bitcoin (BTC) has recently crossed the $35,000 level for the second time in a week and remains in the upper $34,700’s, with nearly 80% of its holders presently in profit and the cryptocurrency sector waiting with bated breath to see what happens next. As it happens, over 78% of Bitcoin holders are making money at the flagship decentralized finance (DeFi) asset’s current price, as opposed to 17% in loss, according to the information shared by the blockchain and cryptocurrency analytics platform IntoTheBlock in an X post published on November 6. Bitcoin holders in profit at current price. Source: IntoTheBlock Furthermore, 1.94 million addresses have previously bought 778,859 BTC at a minimum price of $34,111.17 and a maximum price of $35,122.37, which makes the average of $34,650 a critical support level that the maiden crypto needs to hold for bulls to have “a massive victory ,” as the analysts observed. Bitcoin holders in/out of the money around p...

The rumors were fueled by reports citing anonymous sources and a job posting from Kraken which highlighted that the company is "enthusiastic" about layer-2 solutions. Crypto exchange Kraken neither confirmed nor denied rumors of the company’s plans to potentially release a layer-2 solution similar to what its competitor Coinbase did with Base network earlier this year.  The rumors were fueled by reports citing anonymous sources and a job posting from Kraken highlighting that the organization is looking to hire a senior cryptography engineer who would be in charge of designing and implementing cryptographic protocols and “ layer-2 solutions.” Within the job post, Kraken also noted that its team has “recently embarked on exploring how more protocols and decentralized applications can be integrated” into its crypto ecosystem. The post also noted that the company is enthusiastic about layer-2 protocols. Kraken’s job posting for a senior cryptography engineer. Source: Lever Co...

In a Nov. 6 post on X, Zilliqa, a layer-1 blockchain with almost half a million followers, shares the news of the Ionise Protocol, built on Zilliqa EVM, going live on mainnet. Following this announcement, users can participate in lending and borrowing of tokens on the Zilliqa network using wallets such as MetaMask and Coinbase. Non-custodial in nature Ionise has been introduced to the public as a decentralized money market protocol that will enable users to engage in token lending and borrowing within the Zilliqa EVM network, operating as a non-custodial system, which guarantees users maintain complete control over their assets. The first money market protocol built on #Zilliqa EVM has launched on mainnet!@ionise_protocol allows users to lend and borrow tokens on Zilliqa and includes support for popular wallets like #MetaMask. Learn more about the Ionise and how it paves the way for better #DeFi on… pic.twitter.com/ii0c0R2NI1 — Zilliqa (@zilliqa) November 6, 2023 The intro...

An unknown whale transferred 1,999,000,000 Tron tokens (TRX) worth $194 million. According to on-chain analytics, the whale transferred a large amount from the Binance cryptocurrency exchange to an unknown wallet. 1,999,000,000 #TRX (194,212,058 USD) transferred from #Binance to unknown wallethttps://t.co/vEuLQCvhFb — Whale Alert (@whale_alert) November 6, 2023 At the time of publication, the price of TRX remained virtually unchanged. When writing, the token trades at $0.09753, down 0.94%. Last week, three wallets the same owner could own moved 6,500 BTC for the first time in six years. Bitcoins arrived at these three addresses on Nov. 5, 2017. You might also like: Whale transferred 6,500 Bitcoins as price reached $36k Some BTC came from an address marked on bitinfocharts as F2Pool, which may belong to early miners. Meanwhile, Binance continues to experience billions of dollars in outflows that began last year. Since November, several billion dollars wort...

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. Do you recall the state of crypto exchanges back in 2017? I entered the crypto space at that time, and crypto exchanges were entirely different from what they are today. They offered a bad user experience, had poor website engines, lacked mobile applications, and had almost no investment products or trusted methods to buy crypto.  Blockchain market in 2017 | Source: CB Insights Looking at it from today’s perspective, the experience with cryptocurrency exchanges in those years was extremely clunky. And, let’s not even start talking about the capabilities of the first generation of decentralized exchanges (DEXs). You might also like: Decentralized finance is changing our everyday lives | Opinion Two bull run cycles have passed, and now we see a completely different picture. As Bob Dylan aptly put it, “Th...

Key takeaways Shiba Memu’s presale is now closing in on the $4.5 million mark. Bitcoin is trading close to the $35k level once again as bulls continue to stay in charge.  The cryptocurrency market has been in a bullish mode over the last two weeks, with Bitcoin and other altcoins rallying higher. Shiba Memu’s presale continues to push forward, with more than $4.3 million raised so far.  Bitcoin targets $35k Bitcoin, the world’s leading cryptocurrency by market cap, is up by less than 1% in the last 24 hours. At press time, the  price of Bitcoin stands at $34,796 per coin. The broader market has been performing excellently over the last two weeks.  The total cryptocurrency market cap is now above the $1.2 trillion mark. Altcoins have also been rallying over the last couple of days.  What is Shiba Memu? The broader cryptocurrency market has been rallying over the last few days, and Shiba Memu’s presale ...

Amid his numerous warnings of an imminent financial crash, Robert Kiyosaki has shared his most important lesson – the rich don’t work for “fake” cash. Instead, he pointed out that the rich focus on investing in “real assets” like rental properties, gold, silver, and the maiden cryptocurrency – Bitcoin (BTC). Indeed, the author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ said that taxes, inflation, and the stock market serve to rob people of their “fake money,” which is why the rich work for assets that put “tax-free money in their pocket,” as he explained in an X post on November 2. Rich vs. poor According to Kiyosaki, this refers to “cash flow assets such as rental properties, oil, food production,” and instead of saving “fake $, the rich save gold, silver , Bitcoin.” On the other hand, “the poor and middle class want jobs that promise a steady paycheck but offer no job security.” “Even worse, the poor and middle classes work at jobs that pay taxa...