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Join Our Telegram channel to stay up to date on breaking news coverage Binance is advancing on its plan to become a licensed, approved crypto exchange service in Dubai. The platform managed to obtain a Virtual Aset Regulatory Authority (VARA) license in the region, which is a crucial step to becoming an approved platform. #Binance FZE, our Dubai based subsidiary, is the world's first exchange to receive the Operational Minimum Viable Product licence in Dubai. Eligible users can now access regulated virtual asset services, such as fiat on and off ramp services via Binance FZE. More here 👇 — Binance (@binance) July 31, 2023 Binance receives an MVP license, now seeking FMP The exchange acquired the operational minimum viable product (MVP) license to gain the ability to offer approved services to Dubai’s traders and investors under the watchful eye of VARA. According to the exchange, it is allowed to offer broker-dealer and exchange facilities, which are at the disposa

Also Read: Wells Fargo Analyst Slams XRP Army’s Divisive Price Predictions advertisement “XRP Lawsuit Has Little Impact On Ripple Business” Antony Welfare, a CBDC advisor at Ripple , said Ripple currently has 5 live projects and many more in discussion stage, irrespective of the SEC case outcome. The five live projects are in Palau, HKMA, Montenegro, Colombia and Bhutan. He explained that Ripple is actively working on bringing technology to solve central banks’ challenges, using central bank digital currencies ( CBDC s) and stablecoins to solve use cases. Earlier, Wallis said the US SEC lawsuit barely had any impact on getting ew businesses on board with central banks. Meanwhile, the SEC’s recent hints on potentially appealing the Summary Judgment sparked a debate on what could be the future course of action from both the sides. CoinGape reported that even if the agency manages to win the appeal, Judge Analisa Torres has other ways to reiterate the S

Popular Bitcoiner Keyur Rohit says Shiba Inu is no longer a meme coin following the launch of Shibarium Beta Bridge.  Prominent Bitcoiner Keyur Rohit has taken to Twitter to applaud Shibarium Beta Bridge, a cross-chain protocol for Shiba Inu L2 scaling solution.  The Crypto Basic  reported earlier that the Bridge allows users to transfer assets across networks like Ethereum to Shibarium. However, each transaction can take up to 20 – 30 minutes.  Shiba Inu Is Not Meme Anymore In a recent Twitter thread, Rohit noted that the release of Shibarium Beta Bridge signifies that Shiba Inu is no longer a meme coin.  Meme coin is a title given to cryptocurrencies that launched as a result of a joke. Interestingly, Shiba Inu has been trying to shred the meme coin title by launching notable projects.  Notably, Shibarium is one of the projects helping Shiba Inu to shred the meme coin title, and Rohit shares the same sentiment.  BREAKING: The bridge between #Ethereum & the m

The Supreme Court bench asked the union government to file a report on whether the latter is capable of setting up a federal agency to investigate crypto-related crimes. The Indian Supreme Court on July 27 reprimanded the Union government for the lack of crypto regulations in the country, according to a report in a local media outlet.  The Supreme Court in its observation noted that it is “unfortunate” that the government has yet to release any clear guidelines around crypto currencies. The observation from the court came amid growing instances of criminal activities involving crypto currencies and directed the Union government to bring on record whether it plans to set up any dedicated federal agency to investigate such crypto criminal cases, the local daily reported. According to the report, Justices Surya Kant and Dipankar Datta said:  “You still don’t have any law, unfortunately. Do you have an agency at the national level to understand these cases and investigate them properl

On July 26, a video was shared on Twitter by Sam Altman, CEO of OpenAI, showing a long queue in Japan of people waiting for their $50 worth of Worldcoin (WLD) tokens or 25 WLD after signing up for the “World ID.” Despite the need to provide government-issued identity documents before iris scans, the long queue suggests high demand. Sam revealed that Worldcoin was onboarding one person every eight seconds . However, interest has waned since Monday’s launch. day 3 of @worldcoin launch, crazy lines around the world. one person getting verified every 8 seconds now. pic.twitter.com/vHRu1sWMT3 — Sam Altman (@sama) July 26, 2023 It is also hard to conclude if these sign-ups are the step forward needed for Worldcoin adoption. Worldcoin was publicly launched on July 24. Interested users could register at designated Orb venues in 20 countries in exchange for 25 WLD.  You might also like: Crypto Twitter marks Worldcoin as ‘evil’ project In an introductory letter, Worldcoin sa

Meta’s Reality Labs division recorded a $3.7 billion operating loss in Q2 this year. Yet, the social media giant remains fully committed to metaverse development. So far, in 2023, Meta has invested a staggering $7.7 billion in its virtual reality business, according to Meta’s latest earnings results released on July 26. The unit’s revenue declined to $276 million in the same quarter from $452 million last year. This decrease was attributed to lower Quest 2 virtual reality headset sales. During an earnings call, Meta’s CEO, Mark Zuckerberg, emphasized their dedication to artificial intelligence (AI) and the metaverse vision. He explained that the company has been actively working on these priorities for years and sees them as overlapping and complementary endeavors. You might also like: Zuckerberg still optimistic on metaverse despite $13.7b setback Meta’s CFO, Susan Li, attributed the revenue drop to reduced sales of their VR headset and revealed that Reality Labs’ exp

Ant Group, Alibaba’s fintech arm, is rumored to exclude blockchain development from its primary financial business in China to pave the way for a Hong Kong IPO. Ant Group Co., a fintech affiliate of the Chinese e-commerce giant Alibaba, is contemplating a significant organizational overhaul. It would divest some non-essential functions from its core financial business in China, insiders told Bloomberg. Ant Group is considering the separation of its blockchain , database management, and global operations from its principal entity as part of this strategy. According to the insiders, the spin-offs are part of a larger plan to secure a financial holding license in China. Ant Group has reportedly communicated this information to a select group of shareholders. On the successful completion of the proposed restructuring and acquisition of the financial holding license, Ant Group will potentially revive its plans for a Hong Kong IPO. The company will go for one exchange listing instead o

Crypto lawyers James Murphy and Bill Morgan expect the SEC to file an interlocutory appeal in the lawsuit against Ripple. An interlocutory appeal is made in the absence of a final judgment by the court. James Murphy believes that the securities regulator may appeal within the next two weeks. Crypto lawyer James Murphy believes that the Securities and Exchange Commission (SEC) may file an interlocutory appeal in the ongoing lawsuit against Ripple. Murphy’s assessment comes days after the judge overseeing the lawsuit entered a summary judgment motion that handed Ripple a major victory. James Murphy, who goes by MetaLawMan on Twitter, told his followers earlier today that the SEC could go with three other options, apart from the interlocutory appeal. Such an appeal is entered in the absence of a final order, which has not yet been passed in SEC vs. Ripple. Murphy stated that the securities regulator would need the permission of Federal Judge Analisa Torres a

Benjamin Cowen, a well-known crypto analyst, is saying that Ethereum (ETH) competitor Cardano (ADA) is repeating a downward trend from 2019. Cowen says in a new strategy session that Cardano hasn’t found a bottom yet by comparing the price action in 2023 to how the market was set up in the second half of 2019 when ADA kept finding new lows. “The second half of 2019 was probably the hardest part of the cycle [for Cardano] because it wasn’t very exciting. You just watched the altcoin market slowly bleed out. There were certainly a lot of pumps. I mean, no shortage of pumps. We had tons of them. This one right here [in 2019 from $0.035 to $0.050] was 41%. This one right here [from $0.041 to $0.58] was 40% as well. We had a lot of pumps like that and they ultimately just still got faded.” Cowen says that ADA rallied in 2023 in the same way it did in 2019. This happened when the token made double top patterns and then fell below the bull market support band, which

Vitalik Buterin, Ethereum’s co-founder, shared his perspective on Worldcoin’s (WLD) human identity verification system, launched earlier today. Buterin’s blog post revolved around Worldcoin and its vision, as well as the overarching theme that informed the development of the Worldcoin token—proof-of-humanity. He underscored the importance of this concept as artificial intelligence had progressed and the boundary between humans and machines had begun to blur. What do I think about biometric proof of personhood?https://t.co/yozo1buW24 — vitalik.eth (@VitalikButerin) July 24, 2023 Several platforms, including Worldcoin, Proof of Humanity, BrightID, Idenam, and Circles, posited that as bots became increasingly proficient, human s might face existential threats, which a universal basic income could help alleviate. These concerns, in Buterin’s view, underscored the necessity for digital human verification systems. Buterin suggested that such systems could address issues like spam p

FOX journalist’s tweet on the SEC vs. Ripple XRP ruling ignites Twitter debate. Top crypto figures clarify XRP secondary sales. John Deaton absolves the judge, citing Congress and SEC for inconsistencies. The recent SEC vs. Ripple XRP ruling continues to stir discussions among experts in the crypto community. Charles Gasparino, FOX Business Senior Correspondent, sparked a Twitter debate when he suggested that the ruling was not Judge Torres’ first “trip to crazy town.” Prominent crypto figures, including John Deaton, Bill Morgan, and Dave Weisberger, CEO of CoinRoutes, contested Gasparino’s legal Analysis . Charles, your legal Analysis is wrong. My friend @JohnEDeaton1 can explain why in detail, but the gist is: XRP used to directly FUND Ripple is an investment contract, but secondary trades on anonymous exchanges is more like sales of ORANGES than the groves under Howey. — Dave Weisberger (@daveweisberger1) July 23, 2023 Weisberger contended tha

Join Our Telegram channel to stay up to date on breaking news coverage Ilya Lichtenstein and his wife Heather Morgan, also known as Razzlekhan or the “Crocodile of Wall Street,” face accusations of assisting in the laundering of over 120,000 stolen Bitcoin from Bitfinex in 2016. The accused couple has reached a plea deal with US authorities, and prosecutors must submit a copy of the agreement by July 27, following orders from senior judge Colleen Kollar-Kotelly. Based on the evidence presented in their case, it is anticipated that the couple will confess their guilt in court on August 3. Accused Couple to Forfeit All Digital Assets Connected to Bitfinex  The stolen Bitcoin, valued at around $70 million during the crime, surged to over $4 billion when the money launderers were apprehended in February 2022. In a joint effort by the FBI, IRS-CI, and HSI, American authorities have successfully retrieved around 94,000 of the approximately 119,754 stolen Bitcoins. Additional inv

Major cryptocurrency investors, known as ‘whales,’ have recently initiated significant transactions across multiple digital currencies, causing notable shifts in the digital asset market. Some major whales have instigated movements amounting to hundreds of millions of dollars in crypto. These transactions span a range of digital assets, including industry giants Bitcoin (BTC) and Ethereum (ETH), as well as emerging platforms such as Solana (SOL) and Chainlink (LINK), and meme cryptocurrencies like Shiba Inu (SHIB). 14,159 #BTC (421,719,993 USD) transferred from unknown wallet to unknown wallethttps://t.co/dgoE4DOlFq — Whale Alert (@whale_alert) July 21, 2023 As reported by Whale Alert, a tracking platform committed to monitoring large crypto transactions , an unidentified investor relocated an enormous sum of 14,159 BTC, translating to approximately $421.7 million, from one undisclosed digital wallet to another. Further hefty BTC movement comprised of 1,881 units ($55

The US introduces the Financial Innovation and Technology for the 21st Century Act. Crypto lawyer John Deaton is cautious, urging scrutiny of the bill’s details. Coinbase CLO Paul Grewal supports the legislation. The much-anticipated moment has arrived as the United States made its long-overdue entry into the digital asset regulation game. In response to the ‘Financial Innovation and Technology for the 21st Century Act,’ renowned crypto lawyer John Deaton took to Twitter to share his thoughts. “Finally, the U.S. enters the game,” Deaton’s tweet read, acknowledging the significance of this legislative move. Finally the U.S. enters the game. https://t.co/e99TwL3iXv — John E Deaton (@JohnEDeaton1) July 20, 2023 However, Deaton was quick to caution against complacency, hinting that lurking within the bill’s details might be some devilish aspects yet to be fully understood. The lawyer decided to reserve his opinion until he could thoroughly digest all as

Millionero wins the prestigious Beginners Exchange of the Year award. The AIBC Asia 2023 event showcases the rapid emergence of digital trends. Notable tech giants like Alibaba Cloud and Beeinfotech PH participated. The recently conducted AIBC Asia 2023 event held in the Philippines saw Millionero emerge as one of the fastest-growing crypto exchanges. Specifically, Millionero was honored with the prestigious “Beginners Exchange of the Year” award, which represented one of the most significant highlights of the event. Notably, the AIBC Asia 2023 event is a vibrant platform for the cryptocurrency, gaming, and blockchain industries, uniting brilliant minds from the East and West. According to the participants, the event went beyond being a networking opportunity, it brought together some of the most accomplished leaders in the field, enabling future collaborations.  Notable participants like Alibaba Cloud and Beeinfotech PH showcased their advancements, unde

There are “traps” lying in wait for innovators at the vanguard of fintech and quantum computing, according to researchers. Quantum computing technologies are slowly beginning to trickle out of the laboratory setting and into commercial industries. While it remains to be seen when mainstream adoption will occur, a number of companies are currently engaged in experiments and trials with paying clients to develop quantum computing solutions.  According to a pair of researchers from the University of Cambridge and Bandung Institute of Technology, respectively, this represents a critical period wherein the world still has the opportunity to prepare itself for what they’re deeming “the quantum revolution.” In a recently published commentary in the Nature journal, researchers Chander Velu and Fathiro Putra describe the ‘productivity paradox’ and explain how the mainstream adoption of quantum computing could slash economic growth for a decade or more. Per their commentary: “The digital re

NFT artist Beeple stated that AI doesn’t provide a simple fix for the decline in digital collectibles. AI’s integration in art is highlighted in Gucci’s new NFT collection ‘Future frequencies’, exploring generative AI’s role in fashion and art. The Bitwise Blue-Chip NFT Collections Index has dropped over 80% in the past 15 months, marking the NFT market’s sharp decline. Beeple, the artist behind the $69 million NFT sale which propelled the popularity of NFTs into the mainstream media, has once again made it to the headlines with his hot-take on the collaboration of AI and NFTs. Earlier today, Bloomberg reported that Michael Winkelmann, famously known as Beeple, said that the intersection of artificial intelligence and NFTs does not offer a simple solution to the decline in the digital collectibles market. The rise of generative AI and its application in digital art has been the talk of the town in recent months. In fact, Fashion giant Gucci announced its