This past week saw a remarkable increase in Bitcoin's value, with its price rising by more than 11%, starting at around $60,000 and reaching over $67,000. This surge occurred despite the announcement made by Mt Gox trustee Nobuaki Kobayashi that on July 16, 2024, BTC and BCH were reimbursed to certain creditors through specific cryptocurrency trading platforms.
The upcoming introduction of an Ethereum ETF in the United States is also contributing to the excitement. The Chicago Board Options Exchange revealed on July 19 that trading of Ethereum exchange-traded funds (ETF) is set to commence on July 23, subject to regulatory approval.
We have also compiled a selection of the six most significant news stories from the past week that you might have missed. Join us as we explore the most influential events of the previous seven days.
For transparent and decentralized crypto trading and to list your crypto token for free, don’t forget to visit our website and follow Melega Finance (@meleganews) on Twitter for more on all things cryptocurrency.
TOP CRYPTO NEWS RECAP (Jul. 14-20, 2024)
● WazirX Hacked: $235M in Crypto Stolen
● SEC Approves Grayscale, ProShares Ethereum ETFs for NYSE Arca
● Polygon Labs Set to Replace MATIC with POL on Sept. 4
● Valour Launches First ETP for Near Protocol Token
● Craig Wright Admits He's Not Satoshi Nakamoto
● South Korea Enforces New Crypto Exchange Regulations
WazirX Hacked: $235M in Crypto Stolen
Indian crypto exchange WazirX was hacked, with $234.9 million from its Safe Multisig wallet on Ethereum stolen. Cyvers, a Web3 security firm, detected suspicious transactions, revealing that the funds were moved and converted to Ether. The primary attacker’s address still holds over $104 million in various cryptocurrencies. In response, WazirX has suspended withdrawals and is actively investigating the breach. The incident highlights the ongoing security challenges in the Indian crypto market.
SEC Approves Grayscale, ProShares Ethereum ETFs for NYSE Arca
The SEC has approved Grayscale Ethereum Mini Trust and ProShares Ethereum ETF for trading on NYSE Arca. While this authorization allows NYSE to facilitate trading, final comments on the ETFs’ S-1 filings are pending before listing. Grayscale plans to distribute shares of the new Mini Trust to holders of its existing Ethereum Trust. Several spot Ethereum ETFs are awaiting final approval, with listing expected as early as July 23.
Polygon Labs Set to Replace MATIC with POL on Sept. 4
Polygon Labs will replace its MATIC token with POL tokens on September 4 as part of its Polygon 2.0 roadmap. This upgrade aims to enhance Polygon's ecosystem of zero-knowledge-based layer two chains and expand the utility of its native token. POL will support Polygon's staking hub, block generation, and data availability. MATIC holders on Polygon PoS will be automatically upgraded, while those on Ethereum or other platforms must manually migrate.
Valour Launches First ETP for Near Protocol Token
Valour has introduced an exchange-traded product (ETP) for NEAR, Near Protocol’s native token, on Sweden's Spotlight Stock Market. This allows retail and institutional investors to invest in NEAR, a token noted for its significant role in decentralized finance (DeFi) and non-fungible tokens (NFTs). Near Protocol aims to simplify blockchain development challenges. With a market capitalization of $6.8 billion, the NEAR token ranks among the top 20 digital assets globally.
Craig Wright Admits He's Not Satoshi Nakamoto
Craig Wright, who has long claimed to be Bitcoin's creator, Satoshi Nakamoto, issued a legal disclaimer on his website stating he is not Nakamoto. This follows a UK High Court ruling and a legal challenge by the Crypto Open Patent Alliance (COPA), which accused Wright of forgery. The court's findings discredited Wright's claims, with Judge James Mellor ruling he is not Nakamoto. Wright now faces potential perjury charges and has frozen assets to cover legal costs from previous lawsuits.
South Korea Enforces New Crypto Exchange Regulations
On July 19, South Korea implemented the "Virtual Asset User Protection Act" to safeguard crypto users. The law mandates virtual asset service providers (VASPs) to insure against hacks, segregate customer assets, and safely store bank deposits. Additionally, VASPs must maintain anti-money laundering measures and report suspicious transactions. Despite concerns about mass token delisting by exchanges, a review process will mitigate such risks. Meanwhile, the ruling party has proposed delaying the tax on crypto trading profits because of current market sentiment.
NEWS FROM THE MELEGASWAP ECOSYSTEM
Mega $MARCO Burn Event Completed
We are excited to announce that we have completed the BURN EVENT for 10 million $MARCO tokens on the BNB Chain, worth approximately $200,000. This event marks a significant milestone in the ongoing development of the MelegaSwap Platform, which is transitioning to become MULTICHAIN. The $MARCO token will be launched on the POLYGON chain in the next few days. Please find the transaction hash below here.
Inter Finance Network (IFNET) Farm & Pool Listed on MelegaSwap
IFNET was established to generate passive revenue for the community. Holding IFNET in your wallet will earn you BUSD. IFNET is an open-source, decentralized platform the community has originated, driven, and developed.
MelegaSwap Secures New Strategic Partnership with AIVOICE (AIV)
$AIV uses AI voice technology to allow users to listen to all digital content provided by audiobooks, portals, etc., including Internet news, in the voice of the person they want. AIV holds patents related to AI voice technology.
•••
Risk warning: Cryptocurrency investment or trading is subject to high market risk. Hence, you might lose your money in the process. Please do adequate research and plan your investments cautiously. We at MelegaSwap will always make the best efforts to list high-quality and potential coins, but we will not be responsible for your losses
