Look through Cornix’s automated crypto trading bots suitable for all trader levels. Know about key features, pricing plans, and customer support. Start Your Free Trial Now!

Overview
Cornix is the leading company developing crypto-automated trading tools in this particular niche of Fintech. The company would thus work for all types of traders by offering fast, reliable, and user-friendly solutions to improve trading strategy and performance.
Some of Cornix’s prominent capabilities include the Signals bots feature itself. It lets one ensure profit and reduce losses without constant monitoring. 

The Cornix crypto tool serves three types of users:
The Cornix crypto tool serves three types of users:
Professional Signal Providers and Group Admins: A feature that aids professional traders in becoming crypto signal providers.Individual traders: Cornix provides an advanced trading terminal for executing advanced trading rules and tools, such as the DCA bot, Grid bot, and TradingView bot.Beginner Crypto users: Cornix offers a signal provider marketplace for discovering and subscribing to Crypto signal provider groups, enabling automatic signal copying.t, and TradingView bot.Beginner Crypto users: Cornix offers a signal provider marketplace for discovering and subscribing to Crypto signal provider groups, enabling automatic signal copying.
Websitehttps://cornix.io/Established2018Customer Support24/7Mobile SupportYesFree TrialAvailable for 14 days
Pros and Cons
Pros
14-day free trial24/7 responsive customer supportFlexible pricing plansUser-Friendly interfaceBiggest SIgnals providers marketplaceMany advanced featuresAdvanced trading Terminal
Cornix offers traders a wide variety of tools for enhancing their trading. It allows for replication from expert signal providers, making it much easier for a beginner to access professional methods. Cornix holds the largest marketplace of signal providers, supplying its customers with various trading signals according to different strategies and risk preference profiles.
In addition to this, Cornix has advanced bots, including DCA bots, Grid bots, and Options bots—all of them tailored to automate intricate trading strategies with ease. The trading terminal inside Cornix is deeply endowed with adequate features: advanced charting, technical analysis tools, and pattern recognition—all of which make it a great tool for both newbies and experienced traders.
Cornix is working on making cryptocurrency trading available to everyone, more efficient, and more profitable by adding advanced features and a user-friendly interface.
Key Features

Automated Cryptocurrency Trading Tools: Cornix provides new and experienced traders with automated trading solutions.User-friendly solutions: It is planned that the platform should be fast, reliable, and user-friendly to improve the overall trading experience.Extended Features: This provides an exhaustive set of features, including signal bots, signal providers marketplace, DCA and grid bots, TradingView and bots, and advanced portfolio management tools. Bring above the User friendly and focus more on the bots.Accessibility: Cornix is available for mobile and web apps, allowing their traders maximum convenience in strategy setup, monitoring, and adjustments.Its excellent features include flexible subscription packages, a free trial without a credit card, and 24/7 human technical support.
Cornix Pricing

The annual plan gives value for money with four months free. Also, if one is entering the business for the first time, starting with a monthly plan, if not the most basic one, it will be wiser to try one signal provider and gauge the performance. Both plans have a two-week free trial, all premium offers, and telegram signal automation.
The annual plan gives value for money with four months free. Also, if one is entering the business for the first time, starting with a monthly plan, if not the most basic one, it will be wiser to try one signal provider and gauge the performance. Both plans have a two-week free trial, all premium offers, and telegram signal automation.
Customer Support
Professional, Reliable, and friendly service for registered users.24/7 for paying users.The chat box is on the bottom right of the landing page.Responses within 15 minutes.Seamless and hassle-free experience.
tocurrency trading solutions, thanks to its fully featured, user-friendly interface and first-rate support. It makes trading easy and efficient by offering users advanced tools such as automated bots and a huge marketplace for signals. Emphasizing user experience and support, Cornix enables traders to execute their strategies confidently and reach their trading goals.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Key Points:

Telegram has rolled out an in-app browser along with a mini app store, enabling smooth website browsing and adding native support for browsing decentralized sites.

The Telegram in-app browser includes features such as support for notifications, bookmarks, and opening many tabs.

Touted to bring in-app browsers and mini app stores, Telegram has unwrapped a line of new features, as founder Pavel Durov announced.

Read more: Best Telegram Casinos You Need To Know

Telegram In-App Browser and Mini App Store Unveiled

The new Telegram in-app browser will let users view websites right within the app and open any message simultaneously. It works with decentralized TON Sites and allows users to host their websites on The Open Network themselves.

Telegram in-app browser also hosts notifications that allow users to get updates without moving an inch and bookmarks that let them view content easily later.

The messaging app promised a mini app store before the end of July, and now it's life. In the store, users will be able to discover and interact with apps, including those accepting Stars as a form of engagement. The mini apps themselves can also be featured in Telegram's upgraded Stories section, expanding their reach within the app's ecosystem.

More than 500 million monthly interactions with mini-apps make Telegram look to rope in more users with this new store. An "App" tab, next to the "Chats and Channels" tab, is now available and opens in Telegram's in-app browser, decked out with a lot of features such as minimized browsing and progress saving.

Telegram Aims for One Billion Users Amid Rapid Growth

Telegram founder Pavel Durov announced plans for these updates first on July 19. The launch comes amidst the success of Telegram-based games, such as a web3 tap-to-earn play like Catizen, which has raked in $16 million in in-app purchases.

In a recent interview, Durov projected that Telegram could quite easily reach one billion active monthly users this year. It had to cope with the refusal regarding the 2018 censorship attempt in Russia, unwilling to give away its encryption data, but Telegram keeps going on and steeply rises, obviously due to its high speed and exceptionally good privacy features that make it very popular in Russia.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Key Points:

The Fed kept interest rates at 5.25%–5.50% in July 2024.

A 2% inflation target is maintained amid rising unemployment at 4.1%.

An 85% chance of a September rate cut is expected to ease the financial landscape.

The Fed interest rate remains at 5.25%-5.50% as of July 2024, with cuts likely soon. Despite cooling inflation and rising unemployment, the Fed aims to balance inflation control without causing a recession.

Fed Interest Rate Steady At 5.25%-5.50%, High Odds For September Reduction

According to a Press Release, the Federal Reserve decided to maintain interest rates at 5.25%–5.50% in July 2024, marking over a year at this 23-year high. The rate cuts are likely to occur in the coming months.

Fed Interest Rate Decision Maintains 23-Year High

However, the Fed has always adhered to the goal of 2% inflation, following a wait-and-see approach with cooling inflation and dissipated job gains—conditions that make rate cuts highly likely very soon.

Going into 2024, most discussions had been focused on US interest rates. Wall Street was gearing up for the expected reprieve of the cuts after the presumed conclusion of the Federal Reserve's year-long tightening campaign.

Mid-2024 has arrived, and so far, rate cuts have not materialized, although changes are coming. The chances of a rate cut in September, as shown by the CME FedWatch Tool, are now 85%.

Read more: El Salvador Crypto Proposal Now Pushing Forward to Support Trade With Russia

Balancing Inflation and Recession Risks

With unemployment rising to 4.1% this year, the balancing act is on because the Fed has to keep rates high enough to tap inflation without inciting a recession.

According to Watcher.Guru, the early September rate cuts will facilitate the highly desired soft landing. Christopher Waller, a member of the Federal Reserve's Governing Board, mentioned recently that rate cuts are forthcoming and that the time for a policy rate cut is approaching.

In sum, the Federal Reserve's decision not to tinker with interest rates should be reviewed against the background of concerns over inflationary pressures and broader economic trends as part of a continuing strategy. These expected rate cuts will alter the US financial landscape as conditions evolve further dramatically.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Key Points:

El Salvador crypto proposal suggested that BRICS trade with digital assets to reduce reliance on the US dollar.

Russia legalizes crypto for international trade to avoid Western sanctions.

El Salvador stays neutral in the Russia-Ukraine conflict and seeks BRICS membership for investment opportunities.

El Salvador has floated the use of cryptocurrency to trade with the BRICS Alliance for reducing dependence on the US dollar.

Read more: El Salvador’s Bank for Private Investment Proposed to Support Bitcoin

El Salvador Crypto Proposal Hints at Trade with BRICS for No US Dollar Dependence

The El Salvador crypto proposal comes a few months after the June change in Russian legislation that allowed cryptocurrencies for international settlements and came into force in September, says Russian diplomat Alexander Ilyukhin, who added the ruling would make it easier to transact for El Salvador, whose official currency is the US dollar.

The Russian legislative step, specifically taken to bypass Western sanctions, has drawn interest worldwide. El Salvador crypto proposal was regarded against the strategic backdrops of responses to the pressures for trading in US dollars, marred by the intermediation of correspondent banks in the US and Europe.

El Salvador Neutral Over Russia-Ukraine Conflict

Through the phase of incessant conflict between Russia and Ukraine, El Salvador has maintained neutrality. Although Ukrainian President Volodymyr Zelensky courted support from El Salvador, the Central American nation chose to continue its non-aligned policy.

Zelensky underlined the fact that although El Salvador is interested in tighter relations with Russia, it also probed membership in the BRICS bloc as a way to attract investments and independence from the US and the World Bank.

In 2018, the volume of bilateral trade between El Salvador and Russia was $4 million, while in 2020, it had risen to $20 million. There is huge potential for cryptocurrency to boost this increase, as this would correspond to El Salvador's acceptance of Bitcoin and other digital assets.

In this regard, El Salvador considers the opening of a financial institution to process transactions in a number of various cryptocurrencies. However, the course may be thwarted by Western banks intervening in such transactions.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Key Points:

Fidelity's Physical Bitcoin ETP is listed on the London Stock Exchange and is accessible to UK professional investors.

The ongoing charge for the Fidelity Bitcoin ETP is 0.35%, dropping from 0.75% in February 2024.

The listing is in line with new FCA regulations allowing crypto asset-backed ETPs for professional investors.

Fidelity International has listed its Physical Bitcoin Exchange Traded Product on the London Stock Exchange—a first in which an investor can get exposure to the underlying asset directly in the United Kingdom.

Read more: Fidelity Reveals Pension Funds’ Bitcoin Exploration, $4.8 Trillion Manager’s Revelation!

Fidelity Bitcoin ETP Lists on the London Stock Exchange

This thus amounts to a gigantic entry of Fidelity into the cryptocurrency market. Investors in the UK will soon have access to the Fidelity Bitcoin ETP. It commenced trading on the Deutsche Börse Xetra and SIX Swiss Exchange in February 2022. The product is fully collateralized, meaning it will be entirely backed by Bitcoin and track price changes in the cryptocurrency.

Fidelity Bitcoin ETP comes with an ongoing charge of 0.35 per cent, having been cut from its prior rate of 0.75 per cent as of February 2024, making it even more reachable to a higher number of investors.

FCA's New Rules Allow Crypto ETP Listing for Professionals

The listing of Fidelity Bitcoin ETP comes after a recent decision by the Financial Conduct Authority that allows for the establishment of crypto asset-backed ETPs targeting professional investors. The Fidelity Bitcoin ETP enables investors to have easy and regulated investments in Bitcoin without actually holding the cryptocurrency.

According to Stefan Kuhn, head of ETF & Index Distribution at Fidelity International, the recent approval of spot Bitcoin ETFs in the US increased investors' global interest in cryptocurrencies.

The listing comes after a recent raft of crypto ETP and Exchange Traded Note listings on the LSE from a variety of issuers, including 21Shares and WisdomTree. The LSE now boasts multiple options for investors looking for exposure to Bitcoin and Ethereum.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Key Points:

Simon's Cat partners with Floki to launch a memecoin on August 8.

Coins will be airdropped to FLOKI holders and traded via a bot.

The memecoin will be promoted on Simon's Cat's social media.

Simon's Cat has partnered with Floki, BNB Chain, and DWF Labs to create the Simon's Cat Meme Coin, launching on August 8. The coin will be airdropped to FLOKI holders and traded via a Floki bot.

The Launch Of Simon's Cat Meme Coin Will Boost FLOKI Value

CoinDesk reported that the famous animated feline brand Simon's Cat has partnered with the meme coin Floki, BNB Chain, and DWF Labs to create the Simon's Cat Meme Coin.

Launch Date and Distribution of Simon's Cat Meme Coin

According to speculations, the new cryptocurrency will be issued on August 8. The coin supply will be airdropped to some of the holders of the FLOKI token; another part will be distributed among users trading Simon's Cat via the Floki trading bot.

Additionally, a sibling of that, TokenFi, started in 2023 and helps drive it. TokenFi specializes in helping traditional internet brands tokenize into Web3 projects, letting any user launch any cryptocurrency without writing code.

Simon's Cat is an animated series about the mischievous adventures of a hungry house cat. The series has over 20 million followers on YouTube, Facebook, and Instagram. Most of its content consists of videos and memes relating to cats.

Read more: The Importance Of Meme Coins In The Blockchain Ecosystems

Market Impact and Brand Advertising Strategy

Although the $2.9 billion cat memecoin sector is small, it's on the rise—much smaller than the $36 billion dog memecoin sector. Simon's Cat will be the first significant cat memecoin on the BNB Chain, and this new memecoin will increase the value of the FLOKI token by how it will be distributed.

Simon's Cat is the first real memecoin to be attached to an established brand and matching intellectual property. Banijay, which holds the Simon's Cat IP, had a revenue of $5.8 billion last year. As reported by CoinDesk, the brand plans to advertise the new memecoin across its YouTube, Facebook, Twitter, and Instagram channels.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Key Points:

Elixir introduces deUSD, a new synthetic dollar asset, to compete with Ethena Labs’ USDe, offering a decentralized and fully collateralized alternative.

Elixir synthetic dollar deUSD is backed by stETH and allows stakers to earn additional yields through liquidity incentives, with a focus on stability even during extreme market conditions.

The project has secured $1 billion in liquidity for deUSD and has accumulated over $300 million in total value locked through its Apothecary program.

Modular blockchain project Elixir has announced that it launched its synthetic dollar asset called deUSD. This new offering will look to take on USDe, offered by Ethena Labs, as it seeks to provide a decentralized competitor in the stablecoin world.

Read more: Ethena USDe Custodian Certificate Shows Skyrocketing Asset Value

Elixir Synthetic Dollar deUSD to Challenge Ethena's USDe

Ethena Labs' USDe is stabilized through the operation of arbitrage and yield-returning strategies, which are collateralized by crypto assets and delta-hedged. It is enacted in a decentralized finance framework but ultimately needs centralized exchanges and custodians to handle its collateral.

According to The Block, Elixir synthetic dollar deUSD is always fully collateralized by stETH and is used to short ether in a delta-neutral position. In this design, additional yields granted for liquidity provisioning could be captured by the deUSD stakers. The team behind this project focuses on the fact that the Elixir synthetic dollar genuinely decentralizes and is a non-custodial alternative with verifiable execution and open-source code, in contrast to USDe's reliance on centralized systems.

Elixir Locks in $1 Billion in Liquidity Ahead of Mainnet Launch

Elixir says that deUSD will remain stable, even in times of extreme market volatility. The project has $1 billion in liquidity lined up for the new token, with some high-profile support from DeFi platforms, including Pendle, which is building a market for Elixir's Apothecary initiative. That's a system designed to track user contributions and reward participation based on points.

Since its going live in March, the Apothecary program by Elixir has accrued over $300 million in total value locked, excluding the $1 billion set aside for deUSD. The project is racing toward what could be the highly anticipated mainnet launch of deUSD in September.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Key Points:

Trump announced "Crypto President" sneakers purchasable with Bitcoin.

Sneakers: "Bitcoin Orange" $499, black $299, max three pairs.

Trump limited edition sneakers support Bitcoin payments. The "Bitcoin Orange" and black variations are priced at $499 and $299.

Former President Donald Trump announced on the Truth Social platform the issue of limited edition sneakers supporting Bitcoin or other cryptocurrency payments, with the branding of "Trump, Crypto President."

Trump Limited Edition Sneakers Supporting Crypto Payments

Trump Limited Edition Sneakers Now Available For Bitcoin Payments

Any individual can purchase a maximum of three pairs. The "Bitcoin Orange" variation is offered at $499, with a total share of 1,000 pairs, while the black variation goes for $299 and has a total share of 4,000 pairs.

"Just spoke at the Bitcoin Conference in Nashville, Tennessee on Saturday. It was GREAT! Get your Bitcoin Sneakers now. These are Limited Edition, they are each numbered, and you can now pay with Bitcoin or your favorite Crypto." Donald Trump wrote

A few days ago, Trump reportedly declared a commitment to retaining the United States' $14 billion Bitcoin holdings, primarily acquired through Department of Justice seizures. Trump proposed maintaining these assets as a "Strategic National Bitcoin Stockpile," touting an administration stance of never selling off Bitcoin.

Read more: Donald Trump Presidential Campaign Raises $4 Million in Cryptocurrency Donations

Financial Regulatory Reforms and Crypto-Friendly Policies

In addition to this pledge in Bitcoin, Trump vowed that he would reform financial regulatory agencies by firing the chair of the SEC, Gary Gensler, and appointing crypto-friendly regulators, establishing a crypto advisory council, drafting a framework for the issuance of stablecoin, and lessening their enforcement.

Moreover, Trump's foray into digital assets, such as cowboy-and-superhero nonfungible tokens, cemented his status as a crypto champion. Crypto biggies now hasten to back Trump in hopes of an assist when he tries to claw his way back to the White House.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Key Points:

Tether declared its record net operating profit at $1.3 billion for Q2 2024, adding to the total net profit of $5.2 billion in the first half of the year.

According to Tether attestation report, its exposure in U.S. Treasury holdings reached an all-time high of $97.6 billion, placing it 18th in global Treasury ownership.

Tether Holdings Limited today has released its assurance opinion for Q2 2024 from one of the largest independent accounting firms in the world, BDO.

Read more: Tether USDT Redemptions Will Be Stopped on Multiple Blockchains in 2025

Tether Attestation Report: Company Strikes Record Q2 Profit of $1.3 Billion

According to the Tether attestation report, the figures have captured the correctness of Tether Consolidated Financial Figures and Reserves Report underlining some key financial metrics as of June 30, 2024.

It brought its total operational net profit to $1.3 billion in a record quarter that helped the firm attain a record net profit of $5.2 billion for the first half of 2024. The result underlined Tether's solid revenue base, which mainly came from U.S. Treasuries.

Reserves of Tether now hold a record $97.6 billion in U.S. Treasuries, larger than Germany, UAE, and Australia combined. As far as U.S. Treasury ownership globally goes, Tether comes 18th on the list and 3rd in purchases of the 3-month Treasuries, trailing only the UK and Cayman Islands.

Tether's Net Equity Surges to $11.9 Billion in Boost to Financial Stability

Despite that unrealized $653 million loss from falling Bitcoin prices, the Group Equity of Tether increased by $520 million, also boosted by a $165 million unrealized gain from gold investments. The consolidated net equity of the Group stands at $11.9 billion.

In Q2 2024, over $8.3 bln in USDT were issued by Tether, with still decent excess reserves of $5.3 bln in place for stability. Moreover, reiterated several times, according to the CFFRR, Tether finds itself in an even more robust position with regard to its finances: it has more assets than liabilities.

The latest Tether attestation report outlines the high level of commitment Tether has for transparency, stability, and liquidity. The company holds its leading position in the space of stablecoin and further fuels its expertise in AI, biotech, and telecommunications.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Key Points:

The supply of Solana-based PYUSD stablecoin has grown rapidly to nearly $240 million since its May launch.

Solana differs from Ethereum in its high transaction throughput and low transaction costs.

Despite the recent gains, PYUSD and other Solana-based stablecoins remain only a small percentage of the stablecoin market.

The supply of the Solana-based PYUSD stablecoin inches closer to that of its Ethereum-based counterpart.

Read more: PayPal PYUSD Will Be Free To Trade On Xoom

Solana-based PYUSD Stablecoin Supply Grows Rapidly

Since the launch in May, the Solana-based PYUSD aggregated almost $240 million in supply. Comparatively, the supply of Ethereum-based PYUSD tokens stands at some $348 million, having hit the market nearly a year ago, according to The Block.

The increasing dominance of Solana is highlighted in its transaction volume, which outpaces that of Ethereum, powered not only by the meme coins but also by taking the lion's share in stablecoin transfers.

Whereas Solana can process up to 65,000 transactions per second at less than $0.0025, Ethereum's biggest competitor can process only 15 transactions per second with fees of $1 to $50 during high congestion periods, resulting in much faster transaction times—less than a minute on Solana, compared to the several minutes on Ethereum.

PYUSD Stablecoin Still a Minor Player in the Market

Sheraz Shere, General Manager of Payments at the Solana Foundation, said that this growth was a function of the strength and efficiency of the Solana network. "This rapid growth underscores the strength and efficiency of the Solana network," he added.

This could also be driven by decentralized exchanges that have integrated PYUSD. The issuer of PYUSD, Paxos, has not given up on its quest to improve its market presence by integrating into popular blockchains and international payment platforms; even as such efforts continue, PYUSD and other Solana-based stablecoins remain a mere fraction of the stablecoin market dominated by Tether's USDT and Circle's USDC.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Key Points:

The Anoma Foundation is in negotiations to raise $40 million at a $1 billion valuation, though the terms are ongoing and could change.

Anoma crypto venture funding round comes at a juncture when crypto venture capital surged to $2.01 billion globally as of early 2024.

Sources close to the matter unveiled that Anoma Foundation, the Switzerland-based provider of crypto infrastructure, is currently in discussions to secure $40 million in funding at a value of $1 billion.

Read more: Crypto Fund Hack VC Is Preparing At least $100 Million Crypto Investments

Anoma Crypto Venture Funding Round Seeks $40 Million

According to Bloomberg, the negotiations for Anoma crypto venture funding are ongoing, and terms may evolve.

Last year, the Zug-based foundation created Namada, a blockchain aimed at processing private transactions and intertwining itself into existing networks. The project utilizes zero-knowledge cryptography, which, according to the company, allows the transfer of assets between Ethereum and Cosmos chains without revealing user addresses or other details about the transfer.

The Namada blockchain is maintained by the Anoma Foundation, which also provides software to developers for turning their apps into privacy-oriented, distributed solutions. Anoma has also obtained a $25 million early-stage strategic investment from CMCC Global in 2023, after prior rounds led by Polychain Capital and investors including Coinbase Ventures, Maven 11, and Figment.

Crypto Venture Capital Surges to $2.01 Billion in 2024

The Anoma crypto venture financing round corresponds with a larger resurgence in crypto venture capital, with PitchBook data revealing that worldwide investments in digital assets hit $2.01 billion in the first quarter of 2024, more than the total raised in 2023.

Now, with a fresh surge in the digital asset market and political tailwinds in the United States spurred by Republican presidential candidate Donald Trump's pro-crypto position, the investment boom has been propelled even further.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Key Points:

Founder of BitClout Nader Al-Naji is charged with fraud and selling unregistered securities for the alleged misuse of $7 million of investor funds.

The SEC claims that Al-Naji lied about BitClout being decentralized in an effort to avoid its many applicable laws.

Nader Al-Naji, CEO of the top crypto social media platform, BitClout, is now being accused of serious charges by the SEC and DoJ.

Read more: US SEC Chairman Gensler Faces Early 2025 Resignation Rumors

Founder of BitClout Charged With Fraud Over Misused Funds

Al-Naji, also known by his pseudonym "Diamondhands," is being accused of wire fraud and selling unlicensed securities. Federal prosecutors have reportedly charged the founder of BitClout with misappropriating millions of dollars of investor money through the sale of the social token network's native token, BTCLT.

The SEC information claims that the founder of BitClout raised $257 million together with BTCLT but diverted over $7 million for personal use. That amount included lavish spending — renting a Beverly Hills mansion and making huge cash presents to members of his family. Al-Naji was arrested on Saturday and appeared before a magistrate judge in California on Monday.

According to the SEC's complaint, Al-Naji represented BitClout as a decentralized project without a controlling company. The regulator also accused him of acquiring a falsely based legal opinion to falsely suggest to investors that his BTCLT tokens were not securities under federal law.

Gurbir S. Grewal of the Division of Enforcement at the SEC criticized what he called Al-Naji's attempt to do an end-run around the regulatory framework; the complaint reads that the SEC looks to the economic realities underlying an offering, not to labels or other peculiarities of form.

Besides the founder of Bitclout, the wife, mother, and related entities have been individually named as relief defendants by the SEC for purportedly receiving a portion of the misappropriated funds. At the same time, the U.S. Attorney's Office for the Southern District of New York has revealed criminal charges against him.

Al-Naji Case Shines A Light on Regulatory Action

The case is a part of the larger, sweeping crackdown on the cryptocurrency industry, in keeping with ongoing litigation by the SEC against accused Binance and its co-founder, Changpeng Zhao. The SEC further updated its lawsuit against some crypto assets and adjusted its stance over their status as securities.

BitClout has raised a lot of attention and controversy because it has minted digital profiles for celebrities without their permission. Backed by prominent investors and venture firms, the project is now further dividing the crypto community over its mission.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Key Points:

Ripple CEO Brad Garlinghouse has accused the SEC of inconsistent regulation and hypocrisy.

The SEC has filed a case against Binance and Coinbase for running unregistered operations and classifying some cryptocurrencies as securities.

Ripple CEO Brad Garlinghouse ripped into the U.S. Securities and Exchange Commission for being "hypocritical" and inconsistent in applying its rules.

Read more: US SEC Chairman Gensler Faces Early 2025 Resignation Rumors

Ripple CEO Brad Garlinghouse Slams the SEC for Inconsistent Regulation

The comments by Ripple CEO Brad Garlinghouse on social media platform X are some kind of rejoinder to earlier statements made by the SEC Chairman, Gary Gensler, that the SEC is going to make the rules very clear when erratic enforcement by the SEC has rather bewildered the industry. To him, it has the hallmarks of political agenda setting or some strategy regarding malicious litigation, not a bona fide regulatory intent.

The criticism came as a rejoinder to what the SEC did in its current lawsuit against Binance.

Previously, the SEC had sued Binance over selling securities by listing the following various cryptocurrencies as securities: BNB, BUSD, SOL, ADA, and MATIC. The newest complaint has removed the claims alleging their sale.

Within the last year, the SEC has charged a few crypto firms with various offences. It accused Binance and its former CEO, Changpeng Zhao, of deceiving customers over problems of registration and failing to shut out investors based in the United States. In a later development, the SEC charged Coinbase with running an unregistered exchange, labelling several of its listed cryptocurrencies, among them SOL, ADA, and MATIC, as "crypto asset securities."

Crypto Industry Voices Concerns About Regulatory Clarity

The rebuke by Garlinghouse encapsulates the increasing sentiments from within the crypto community with respect to regulatory consistency. Ripple's chief legal officer, Stuart Alderoty, revealed that although claims about these tokens by the SEC were dismissed, those very same tokens in other cases go unaddressed.

Although this ruling now grants investors affected by it a temporary reprieve—since the SEC has up to 30 days to file a motion for leave to amend its complaints—it remains silent on other tokens.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Key Points:

The Bahamas Parliament has passed the Digital Assets and Registered Exchanges Act.

These new Bahamas digital asset legislation, alongside the Securities Industry Act 2024, will help further establish the Bahamas as the foremost international financial center.

The Securities Commission of The Bahamas announced that the Parliament has enacted the Digital Assets and Registered Exchanges Act, 2024, which further deepens regulation over digital assets and cryptocurrencies.

Read more: Tether Now Expands Business In Bahamas Through Britannia Bank & Trust

Bahamas Digital Asset Legislation Passed

The new Bahamas digital asset Legislation builds on the legal base set by the DARE Act 2020 and introduces comprehensive reforms in respect of the dynamism of digital asset markets.

According to Christina Rolle, Executive Director of the Securities Commission, DARE 2024 sets a new standard for regulating digital assets.

"The aim is to ensure investor protection and responsible innovation for the placing of The Bahamas at the forefront of digital asset oversight globally," said Rolle.

DARE 2024 is in line with international best practices and recommendations that have been issued by the International Organization of Securities Commissions and the Financial Action Task Force. The new Bahamas digital asset Legislation simply epitomizes a wide array of global benchmarking and consultations taken from key stakeholders and experts within the industry.

New Laws Boost Bahamas' Status as a Financial Hub

Some of the major characteristics of DARE 2024 include strict standards for the management of both conflicts of interest and relationships with third-party entities. It classifies non-fungible tokens either as financial or consumer assets, includes requirements for liquidity and reporting, forbids the issuing of privacy tokens, and disallows proof-of-work mining.

The tabling of DARE 2024, in conjunction with the Securities Industry Act 2024, represents one of the ways The Bahamas ensures it will be able to keep up with the very dynamic environment. Both pieces of legislation are targeted at further entrenching the country's position as a premier financial center by giving consumer and investor protection at world-class standards and creating an environment that encourages innovation in the area of Fintech.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Key Points:

Hamster Kombat players will soon be allocated 60% of the HMSTR token, potentially the largest crypto airdrop of all time, but there are delays.

The game has hit 300 million players, way higher than top titles like Fortnite.

Hamster Kombat, a popular tap-to-earn game on Telegram, has announced plans to conduct what could be the largest token airdrop in cryptocurrency history.

Read more: Hamster Kombat’s Token Will Launch on TON Blockchain With Breakthrough Milestones

Record-Breaking Airdrop to Be Given to Hamster Kombat Players

The game will allocate 60 per cent of the HMSTR token airdrop to Hamster Kombat players, further attesting to its commitment to rewarding the large user base that the game has built. The airdrop was scheduled to take place this month but has faced a number of delays due to technical challenges.

According to a new whitepaper published by the anonymous Hamster Kombat team, the game now has 300 million players. That is a large chunk of Telegram's 950 million active users. In view of the foregoing, the launch of the token on The Open Network has hit a snag, putting the airdrop timeline in limbo.

The rapid growth of the game doesn't go unnoticed, and it is reported that only a month ago, 239 million Hamster Kombat players were announced by the CEO of Telegram, Pavel Durov. Not long after that, the game's team corroborated a further 250 million. The latest figure easily surpasses major free-to-play games like Fortnite and Roblox, each with over 200 million monthly active users.

Token Value to Depend on User Demand

Hamster Kombat's success is becoming like that of Notcoin, yet another game running on top of Telegram, which had a large airdrop earlier this year. Inspired by the success of Notcoin, Hamster Kombat looks to build a larger ecosystem with an airdrop. The developers added that there is no venture capital backing—the token's value will thus be driven purely by Hamster Kombat player demand.

The game now has 50 million active users per day and exists in 190 countries, setting a large milestone for an upcoming airdrop and further development.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Key Points:

Futu Securities HK launched zero-commission crypto trading on August 1.

The Futu Niu Niu app offers Bitcoin rewards up to HKD 800.

40% of new and 75.6% of experienced investors are interested in the platform.

Futu Securities launched zero-commission crypto trading on August 1 via the Futu Niu Niu app. Investors can earn Bitcoin rewards up to HKD 800. Futu crypto trading is regulated by Hong Kong's SFC.

Futu Crypto Trading To Launch In Hong Kong On August 1st

According to Sing Tao Daily, Futu Securities International (Hong Kong) officially launched crypto trading services on August 1, marking a significant milestone as the first securities firm in Hong Kong to offer zero-commission crypto trading.

Futu Crypto Trading Services Launch in Hong Kong

The Futu Niu Niu app will introduce Hong Kong individual investors to safe, licensed, and zero-commission crypto trading services. Depending on their degree of interaction within the community and other activities, they can receive Bitcoin rewards of up to HKD 800.

Xie Zhijian, the managing director of Futu Securities, said the firm remains optimistic about Hong Kong's Web 3.0 industry outlook.

According to a recent survey by the bank, more than 40% of investors who have never traded virtual assets expressed interest in using Futu Niu Niu. For comparison, nearly 75.6% of experienced investors reported being pleased about the launch of the platform's virtual asset trading services.

Read more: Russian Crypto Payments Now Approved Amid Challenges of Sanctions

Futu Securities' Market Leadership and Regulatory Compliance

Futu Securities International (Hong Kong) Limited is a licensed corporation regulated by the Securities and Futures Commission of Hong Kong.

Since 2012, Futu has maintained high growth momentum. The firm secured a leading position in the Hong Kong market, ranked by the number of clients, and placed among the Top 3 in retail business trading volume.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Key Points:

Jersey City pension fund is planned to allocate to spot Bitcoin ETFs, following a similar move by Wisconsin's pension fund.

Mayor Steven Fulop expects the allocation process to be completed by the end of summer and views blockchain as a significant technological innovation.

The decision reflects a broader trend of institutional acceptance of cryptocurrencies, despite limited engagement from major financial institutions.

On Thursday, Jersey City Mayor Steven Fulop announced the Jersey City pension fund will attempt an investment of part of its assets in spot Bitcoin ETFs, similar to what Wisconsin's pension fund did when it allocated 2% of its assets into such investments.

Read more: State of Wisconsin Investment Board Buys Over $160 Million Spot Bitcoin ETFs

Jersey City Pension Funds Can Be Invested in Bitcoin ETFs

The Jersey City pension fund is in the process of changing its documents in the SEC to give way to this investment, which Mayor Fulop hopes to wrap up before summer is over. According to Fulop, he has been pro-crypto for a long time, believing that blockchain technology represents one of the most profound innovations since the internet.

The move has mirrored a broader trend of growing governmental support for such cryptocurrency assets. This was reflected in Bitcoin ETFs, which, since listing, have seen heavy inflows; BlackRock's IBIT not long ago outperformed Nasdaq's QQQ on year-to-date performance. The opening provided by the approval of such ETFs by the SEC to public pension funds cannot be wished away.

Contrary to the low engagement from larger players such as Wells Fargo and JPMorgan Chase, both having a combined less than $1 million in Bitcoin ETFs, Jersey City shows that digital assets are starting to make headway into institutional portfolios.

Institutional Interest in Bitcoin Grows Despite Limited Major Bank Engagement

Already, Wisconsin's State Investment Board, handling about $156 billion in assets, has sunk $160 million into ETFs tracking the price of Bitcoin - a first for any pension plan investing in digital currencies. Other pension funds, such as Fairfax County, Virginia, and Japan's $1.4 trillion Government Pension Investment Fund, have considered crypto investments.

The announcement comes from Mayor Fulop as he attempts to shore up political support for his expected 2025 bid for governor of New Jersey.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Key Points:

Grayscale Ethereum Trust ETF (ETHE) experienced a $346.2 million outflow, a 13% drop in three days.

Grayscale Ethereum Mini Trust (ETH) and Bitwise Ethereum ETF (ETHW) saw inflows of $58.1 million and $16.3 million.

Rumors of a large ETH transfer by an Ethereum Foundation wallet may impact ETH's price.

On July 25, there was a heavy net outflow from Grayscale Ethereum Trust ETF, ETHE, amounting to $346.2 million, down 13% in just three days.

Grayscale Ethereum Trust Sees Major $346.2 Million Outflow

Read more: Ethereum ETF Trading Exceeds $1 Billion in Volume on the First Day

The outflow rate stands much above the 4% that Grayscale Bitcoin Trust ETF (GBTC) had seen during its early days in January. Yet, ETHE still holds 2.28 million ETH.

On the other hand, other Ethereum-related funds ended up in the green. The Grayscale Ethereum Mini Trust garnered $58.1 million in net inflows, while the Bitwise Ethereum ETF added $16.3 million. US Ethereum spot ETF trading volume hit roughly $850 million the same day.

Grayscale is a player in the crypto space since 2013 that holds massive trust with over $9 billion in Ether and is now converting into an ETF as part of the broader strategy at Grayscale under Barry Silbert's Digital Currency Group umbrella.

Potential Ether Price Drop Due to Unfavorable Factors

The high enthusiasm for Ethereum ETFs usually dies right after launch, and this seems consistent with the performance trend of Grayscale Ethereum Trust. Furthermore, the general decline in US equity markets might have been a driver for these flows.

Adding to the jitters in the market, recent rumors have it that a wallet supposedly linked to the Ethereum Foundation transferred 92,000 ETH, approximately worth $289 million, to a new address for the first time in seven years. Movements like this most often lead to suspicions of impending sales, which in turn could let the ETH price drop down, as has been the precedent.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Key Points:

BlackRock's Robert Mitchnick doubts the approval of additional crypto ETFs, noting regulatory challenges.

He sees Bitcoin and Ethereum as complementary assets, not competitors.

BlackRock’s IBIT trust is performing strongly, indicating growing investor interest in Bitcoin.

At the Bitcoin 2024 conference, BlackRock's head of digital assets, Robert Mitchnick, shared his vision regarding the future of cryptocurrency exchange-traded funds and the evolving roles of Bitcoin and Ethereum, The Block reported.

Read more: Ethereum ETF Trading Exceeds $1 Billion in Volume on the First Day

BlackRock's Robert Mitchnick: Bitcoin and Ethereum Are Complementary Assets, Not Competitors

Contrasted with this spot Ethereum ETF, which only a fortnight ago was launched into the market, BlackRock's Robert Mitchnick comes in pretty skeptical regarding the green light approval for similar funds in other cryptocurrencies. He made a case that Bitcoin and Ethereum weren't rivals, but rather served to complement each other: Bitcoin represents a store of value/alternative global currency, while Ethereum represents technological capacity for innovation.

He says regulators are still murky, but the SEC has been very clear. In fact, it said explicitly that it's not going to allow spot Ethereum ETFs to have staking. There is still a future for crypto assets, he says, and they'll continue finding their way into the market.

BlackRock's IBIT Trust Shines Amid Growing Bitcoin Interest

The performance of these Bitcoin ETFs, such as BlackRock's IBIT trust, has been very strong comparatively. While the IBIT trust is only the second-best performing ETF this year, next to an S&P 500 fund, it makes up more than 20% of BlackRock's inflows for the year. Mitchnick said investors typically allocate 2% to 3% of their funds to that ETF, indicating sudden interest in Bitcoin as an independent asset class.

BlackRock's Robert Mitchnick hopped on to dispel myths about Bitcoin. He framed Bitcoin not as a simple "risk asset," but as a possible "flight to safety" against uncertainty. That framing, he said, is what matters for comprehending the role of Bitcoin apart from traditional crises and market gyrations.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Key Points:

The new ETFs do not include staking income due to SEC concerns about potential violations of federal securities laws.

Ethereum ETF staking’s inclusion may depend on future regulatory and political changes.

Accodring to CoinDesk, some issuers, including BlackRock, did not provide staking capabilities in their ETF products, likely at the urging of the U.S. Securities and Exchange Commission.

Read more: Ethereum ETF Trading Exceeds $1 Billion in Volume on the First Day

SEC Excludes Staking Income from New ETFs

The agency expressed concerns that staking may have violated federal securities laws related to the offering of an unregistered security.

Even in light of this news, hopes remain high. BlackRock's head of digital assets, Rob Mitchnick, commented that Ethereum ETF staking isn't actively being considered at the moment, but there were hopes that regulatory changes would happen to one day pave the way for its inclusion.

BlackRock, Fidelity, and Franklin Templeton are three financial giants who have shown interest in implementing staking capabilities. According to Fidelity's Cynthia Lo Bessette, it plays an important role in securing the Ethereum ecosystem.

Future of Ethereum ETF Staking Hangs on Regulatory and Political Changes

The future of Ethereum ETF staking is also drenched in political factors. According to Nate Geraci, the president of the ETF Store, a possible Trump Administration would fast-track its approval for staking following up on that very crypto-friendly stance earlier taken. Otherwise, ETF issuers could be in a limbo situation while waiting for clearer regulatory frameworks.

For now, Franklin Templeton and others have opted for simpler, unstaked versions of their ETFs that carry less execution risk and a much clearer path to approval. Should regulators one day change their tune, asset managers like Franklin's David Mann are ready to revamp their products.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.