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Hawaii Becomes Crypto Hub After New Crypto Regulations

Hawaii’s newly adopted crypto regulations are making the state increasingly attractive to crypto companies, with companies like MetaMask and Transak opening offices there.

In June, regulators jointly announced that cryptocurrency businesses should not be classified as money transmitters under Hawaii law.

As of July 1, 2024, cryptocurrency exchanges and companies will no longer need to obtain a money transmitter license to operate in the state, a stark departure from most U.S. states.

This could attract many established crypto companies to the state, according to Brian Keene, a U.S. compliance specialist at Transak.

Hamster Kombat Token to Launch on BitGet, Bybit, and OKX on September 26

HMSTR, the proprietary token of the Hamster Kombat clicker game, will debut on the Open Network (TON) blockchain on September 26, at which time the asset will be listed on three cryptocurrency exchanges - BitGet, Bybit, and OKX.

After the successful launch of HMSTR on the TON blockchain, users will be able to trade this token on three main platforms. Bybit and OKX have already confirmed that the asset will be listed on their spot markets, where it will be available to any user of the platform. However, the Bitget exchange has not yet announced whether HMSTR will be added to its spot or futures market.

The developers of the gaming application announced on September 11 that the Hamster Kombat token will appear on the Bitget exchange.

Mining is entering the AI ​​industry

American mining companies are gradually transforming their data centers to collaborate with startups developing applications and services based on artificial intelligence (AI).

The latter rent computing and energy capacity that cryptocurrency miners have. However, the process of integrating these industries will be slow, according to Phil Harvey, CEO of the consulting company Sabre56.

Harvey pointed to the expensive and slow process of transforming a data center into a facility for serving AI companies. The Mainers will have to invest in increasing the centers' productivity by 10-15 times.

AI companies require a lot of energy to process data - up to 200 GW, Harvey emphasized.

Catizen is the most profitable app on Telegram

The Catizen game continues to gain popularity, demonstrating impressive results in the first 6 months of its existence. Since its launch, the number of users has reached 34 million, making it the 1st most profitable app on the Telegram platform.

Catizen has attracted more than 2 million active players interacting with the blockchain, and 800 thousand users have already contributed real money to the project, which confirms the high involvement of the audience. The average revenue per paying user (ARPPU) was $ 33, which makes the application comparable to leading mobile projects.

Catizen is a mini-game on the TON blockchain, which received support from giants such as Binance. This fact allowed the game to gain the trust of the audience and attract huge volumes of users, and the key factor in the success of the project was various ethers, which became an incentive for many players.

Changpeng Zhao Permanently Barred from Binance Management

Binance founder and former CEO Changpeng Zhao has been banned for life from managing the cryptocurrency exchange.

It was initially believed that Zhao would not be able to return to Binance for three years. However, it was later revealed that the ban on managing the platform is permanent, Axios reports.

Zhao stepped down as Binance CEO as part of a deal with the US Department of Justice that the parties reached last November. The agreement stated that the founder of the cryptocurrency exchange would be prohibited from “managing or operating” the company.

Ripple and the SEC Seek Delay of Judgment

Following a recent breakthrough in the XRP lawsuit, in which CNF highlighted that Ripple is set for a major victory as the SEC hesitates to appeal, Ripple has asked to halt the payment of $125 million it owes the SEC, days before the deadline in the ongoing XRP lawsuit.

This comes after Judge Analisa Torres ordered the payment last month. Ripple and the SEC agreed to delay the payment while they prepare for a possible appeal. While Ripple has previously denied plans to appeal, some former SEC lawyers believe an appeal is likely.

According to attorney Fred Rispoli, the chances of an appeal have increased after an agreement was reached to put 111% of the judgment in trust.

Hamster Kombat at the center of a new conflict: investors demand their share

A new scandal has flared up around the popular tapalka game Hamster Kombat. Eduard Gurinovich, who bought the rights to the game's trademark, demands his share of the profits.

Investors in the company "Arenum", founded by Eduard Gurinovich, demand a share of the profits from Hamster Kombat. In their opinion, the entrepreneur is deliberately hiding his connection with the project so as not to share the money with anyone, Vedomosti writes.

Russia has adopted a law on digital assets. What you need to know

The State Duma has adopted in the second and third readings a law regulating the mining and circulation of digital assets in Russia at the same time

A law on digital assets has been adopted in Russia. It covers many issues, including requirements for miners, rules for the circulation of digital assets and control over their circulation by the Bank of Russia, restrictions on advertising cryptocurrencies and integration with foreign platforms. We will tell you in order.

The first version of the bill was presented by a group of deputies led by the chairman of the State Duma Committee on Financial Markets Anatoly Aksakov in November 2022. However, due to disagreements between departments, its approval was stalled. In April 2024, a revised version was submitted to the lower house, which adopted it in the first reading on July 24, 2024.

Researchers Claim Bitcoin Mining Could Reduce Methane Emissions

A new research paper titled “An Integrated Landfill Gas-to-Energy Framework for Bitcoin Mining,” published in the August 29 issue of the Journal of Cleaner Production, has demonstrated how Bitcoin mining could reduce methane emissions.

The paper details how Bitcoin miners are uniquely positioned to use Landfill Gas-to-Gas-to-Energy (LFGTE) systems that capture and convert methane from landfills into usable energy, thereby sequestering the greenhouse gas and reducing its harmful effects on the atmosphere.

Judge Dismisses $258 Billion Lawsuit Against Elon Musk for Promoting Dogecoin

District Judge Alvin Hellerstein has dismissed a lawsuit against Elon Musk and electric car maker Tesla for promoting Dogecoin.

American Keith Johnson sought $258 billion in damages and compensation.
The plaintiff wanted to bar the billionaire and his companies from promoting the coin, as well as to declare trading in this cryptocurrency “gambling.” According to him, the defendants manipulated the market and engaged in insider trading.

The judge noted that Musk’s tweets cited in the complaint were “ambitious and bombastic, and not based on fact.”

Ethereum Price Could Rise Sharply Soon

The Ethereum price, currently trading around $2,500, may be on the cusp of a recovery. The altcoin is consolidating below $2,681 in search of a breakout. The recent selling pressure that has led to significant losses appears to be easing. This selling phase over the past three weeks appears to have been driven by panic, but the tide is turning, with a slight price recovery and renewed optimism.

The market has shifted in the last ten days, with the Ethereum price showing signs of recovery. The Market Value to Realized Value (MVRV) ratio confirms this positive trend. If Ethereum holders start accumulating funds, the price recovery could gain momentum, signaling a potential uptrend.

Dogecoin is in a price struggle

Dogecoin’s one-day realized value has fallen to a one-month low of $12.43 million, according to Santiment. This metric represents the total value of assets on the network, reflecting the value of all assets based on their latest movement. A rise in realized value suggests that the cryptocurrency’s price could be higher as cheaper tokens are spent. However, the current data points to a capitulation-driven decline, meaning the price may struggle to rise above $0.10.

Additionally, liquidation data points to another problem for Dogecoin. This heat map predicts the price levels at which a major liquidation could occur. A liquidation occurs when an exchange is forced to close a position due to insufficient margin balance in an attempt to prevent further user losses.

Binance to Add DOGS to Its Listing
The world's largest cryptocurrency exchange Binance has announced the listing of the popular Telegram project's token DOGS.

DOGS spot trading on Binance will begin on August 26 at 12:00 UTC (15:00 Moscow time), the trading platform said in a statement.

DOGS has become the 57th project on the Binance Launchpool platform. Within three days, users will be able to place their BNB and FDUSD tokens in separate pools for DOGS mining. Mining is scheduled to begin on August 23.

Yandex Bans Cryptocurrency and Mining Advertising

Yandex has updated its advertising requirements on its platform, banning the promotion of digital assets, mining, blockchain, and cryptocurrency projects.

Lawyer Viktor Pershikov explained in his Telegram channel that the law "On Advertising" prohibits advertising digital currency and goods (works, services) for the purpose of organizing the circulation and (or) turnover of digital currency.

Pershikov also emphasized that mining pools also do not have the right to advertise their services in Russia. At the same time, on August 8, Russian President Vladimir Putin signed a law allowing the legalization of cryptocurrency mining in the country.

Bitcoin Plunges Below $58,000 Amid Capital Movements in US Government Accounts

On the evening of August 14, 2024, Arkham experts reported that US authorities transferred 10,000 BTC to the Coinbase Prime platform. Against this background, the asset rate collapsed.

According to analysts, we are talking about crypto assets involved in the Silk Road darknet platform case. The court approved the order for their confiscation in December 2023.

Already in January 2024, US authorities announced that they planned to sell these crypto assets. In April, 2,000 BTC from frozen funds were transferred to Coinbase Prime.

Experts noted that the authorities sent bitcoins to a wallet from which the assets were eventually withdrawn two weeks ago. The transfer was made from an address directly associated with the US Department of Justice, Arkham Intelligence reports.

Bitcoin Surges Above $61,000 as Traders Remain Cautious Ahead of U.S. CPI, Further Yen Unwinding

Bitcoin (BTC) climbed above $61,000 in early Asian trading on Wednesday, leading gains among major tokens and recouping losses from a sharp price drop earlier this month.

Bitcoin has gained more than 3 percent, while major cryptocurrencies Ether (ETH), Solana’s SOL, Cardano’s ADA, XRP (XRP), and BNB Chain have all risen 2.8 percent, according to CoinGecko. Major memecoins Dogecoin {{DOGE}} and BNB Shiba Inu (SHIB) have risen just 1 percent, suggesting that sentiment is favoring riskier bets.

Bitcoin's gain outpaced a 2.45% gain in the broader CoinDesk 20 (CD20) index, which tracks the largest tokens by market cap excluding stablecoins.

Bitcoin Surges Above $61,000 as Traders Remain Cautious Ahead of U.S. CPI, Further Yen Unwinding

Bitcoin (BTC) climbed above $61,000 in early Asian trading on Wednesday, leading gains among major tokens and recouping losses from a sharp price drop earlier this month.

Bitcoin has gained more than 3 percent, while major cryptocurrencies Ether (ETH), Solana’s SOL, Cardano’s ADA, XRP (XRP), and BNB Chain have all risen 2.8 percent, according to CoinGecko. Major memecoins Dogecoin {{DOGE}} and BNB Shiba Inu (SHIB) have risen just 1 percent, suggesting that sentiment is favoring riskier bets.

Bitcoin's gain outpaced a 2.45% gain in the broader CoinDesk 20 (CD20) index, which tracks the largest tokens by market cap excluding stablecoins.

Average Ethereum network fee falls below 1 Gwei ($0.05), the lowest in 5 years

Bitcoin miners' daily revenue has reached a new annual low of $2.5 million, a level last seen in October 2023.

By comparison, miners earned about $6 million a day in the first four months of 2024.