Welcome to the 10th edition of CryptoSpend Roundup, your trusted newsletter for the latest, up-to-date and insightful crypto news. As the crypto landscape continues to evolve at a rapid pace, our mission is to keep you informed about some of the latest developments, market trends, and opportunities.
​Before we get into the news, here are the current market prices for our listed currencies:
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With that out of the way, let's get into the news!
Crypto Exchange Insurance Funds Surge Amid Bull Market
Crypto exchange insurance funds, such as Binance's SAFU and Bitget's protection fund, have seen their values increase by over $1 billion due to the ongoing crypto bull market. While some exchanges disclose their on-chain addresses for transparency, others choose not to for various reasons, and the true extent of their liabilities remains unclear. Full article.
Crypto Community Unites to Push for Official Bitcoin Emoji
Nexo and over 35 prominent crypto organizations have launched a campaign called "Bitcoin Deserves an Emoji" to secure an official Bitcoin emoji, aiming to gather 50,000 endorsements worldwide. The initiative, backed by major players in the crypto space, seeks to reflect Bitcoin's growing prominence and foster mainstream acceptance through representation in the digital language of emojis. Full article.
Trader Turns $13K into $1.76M in Under an Hour Amid Memecoin Frenzy
A crypto trader invested $13,000 in the new Donotfomoew (MOEW) memecoin on the Base blockchain, and in less than an hour, their holdings were worth over $1.76 million, a 15,700% gain. The surge in MOEW's value, despite warnings from its creator Bitget Wallet, highlights the ongoing memecoin frenzy that has seen both old and new memecoins experience significant growth during the current bull market. Full article.
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Argentina Implements Registration Requirements for Crypto Exchanges
Argentina's government has started enforcing registration requirements for cryptocurrency exchanges to operate legally in the country, in line with the Financial Action Task Force (FATF) recommendations. The move comes after the country's senate approved modifications to its Anti-Money Laundering (AML) and Combatting the Financing of Terrorism (CFT) laws, with unregistered virtual asset service providers facing potential operational restrictions. Full article.
OpenSea Adds Support for ERC-721C Standard, Enabling Enforceable Creator Royalties
OpenSea has introduced support for the ERC-721C token standard, allowing creators to set and enforce royalties on their NFTs with a single click. The standard, invented by Limit Break, aims to solve the issue of NFT wash trading and ensures that creator royalties are honored across all channels, preventing users from bypassing commissions on secondary markets. Full article.
And that's a wrap!
That's all for this week's edition of CryptoSpend Roundup. We hope you found the information valuable and that it helps you stay ahead in the ever-changing crypto landscape.
If you have any suggestions or feedback for us, please feel free to reach out to our team :)
Happy CryptoSpending!
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