China State-Owned Media Covers Crypto as 2020’s Best Performing Assets Driven by DeFi & Weak Dollar

In an unusual coordinated report on Friday, several Chinese state-owned media covered cryptocurrencies, calling them the best-performing assets of 2020. The country’s top broadcaster, China Central Television (CCTV), ran a three-minute-long news clip, highlighting crypto assets rallying 70% this year. “Cryptocurrency has undoubtedly become the top-performing investment” among several other Read more…

KuCoin Hack: Exchange’s Insurance Fund to Cover User Loss “Completely,” Tether Freezes 33M USDT

The Singapore-based cryptocurrency exchange KuCoin released a statement regarding detecting large withdrawals on September 26, 2020, at 03:05:37 (UTC+8). The exchange has reportedly lost $150 million worth of funds, although KuCoin hasn’t declared it yet but released “suspicious addresses,” which are constantly updated. As per the company’s internal security audit Read more…

Over 100 Million Unique Users in the Crypto Ecosystem; University of Cambridge Digital Asset Study

The 3rd Global CryptoAsset Benchmarking Study, an initiative by Cambridge researchers to analyze the developing growth of the industry, has estimated that over 100 million people in the world currently hold BTC or alternative crypto assets. According to this publication, the number of new digital wallets increased significantly, with around Read more…

DeFi Protocol Synthetix Upgrading to L2 Scaling to Alleviate Gas Costs for Small SNX Stakers

Popular on-chain synthetic assets protocol, Synthetix is in the first phase of its transition to Optimistic Ethereum, a layer two scalability solution for the second-largest network that continues to grapple with congestion and sky-high fees thanks to all the DeFi craze. Synthetix founder Kain Warwick is “unreasonably excited” about this development Read more…

US Lawmakers Propose Two New Bills to Streamline Digital Asset And Crypto Exchange Regulation

The U.S. Senate released two new bills on Thursday, aiming to provide regulatory clarity on digital assets. The first, introduced by Congressman Tom Emmer (R-NC), is the “Securities Clarity Act,” which aims to establish cryptocurrencies that fall under securities. The other, “Digital Currency Exchanges Act 2020 (DCEA)” introduced by Representative Read more…

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