Crypto Roundup: Tether's Agri Investment, Binance Subsidiary's License, Swiss BBVA's USDC Offering, Bybit's Kazakh Expansion

Our Canary is chirping about a flurry of crypto developments. Tether, the stablecoin giant, is branching out into agriculture, investing in a Latin American leader. Across the globe, Binance's Indonesian subsidiary has secured a crypto license, paving the way for more regulated exchanges in the region. In Switzerland, BBVA is expanding its offerings with USDC, while Bybit is making strides in Kazakhstan, securing full authorization for its operations.

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Meme of the Day

Market Movements - 09 Sept 2024

The crypto market was trading in green zone as investors are looking ahead to key data releases on inflation in the week ahead. Bitcoin rose by +1.17% to $55,105.78, while Ethereum was up by +0.69% to $2,306.10. BNB was also marginally up by +0.56% to $503.53, while Solana dipped by -0.71% to $128.86.

Among altcoins, Tron was up by +1.53% to $0.153, and Toncoin swelled by +8.55% to $5.11. Cardano rose by +0.68% to $0.339, and Avalanche was in green by +3.16% to $23.57.

Movers and Shakers

In the last 24 hours, the top gainers included Popcat (+11.78%), Fantom (+10.37%), and Toncoin (+8.39%). The top losers included Sui (-3.99%), SATS (-3.65%), and Starknet (-2.72%).

Project Updates

1. Woo X, a crypto exchange, launched a social trading platform with a unique feature wherein users can not only copy successful traders' strategies, but also bet against them, potentially profiting from market downturns.

   Read more here

2. Social media platform, Friend.tech has abandoned control of its smart contracts, essentially shutting down future updates.

   Read more here

3. Snapshot X, a new platform built on Starknet, has launched to facilitate gas-free on-chain voting for DAOs.

   Read more here

4. Uniswap Labs' venture arm, Unisat, has announced the mainnet launch of Fractal Bitcoin, a novel scaling solution for Bitcoin. Fractal leverages the core Bitcoin codebase while introducing new features to address scalability challenges.

   Read more here

5. API3, a decentralized oracle network, has launched a suite of enhanced oracle solutions designed to optimize data access and efficiency within DeFi protocols.

   Read more here

Hall of Fame, Hall of Shame

Dutchman Arrested for $4 Billion Crypto Scam

Dutch authorities arrested a former managing director of OmegaPro, a defunct cryptocurrency platform, in Istanbul. OmegaPro is under investigation for allegedly defrauding investors of an estimated $4 billion through promises of unrealistic returns.

Read more here

Court Slaps $209 Million on Crypto Scam

A U.S. court has imposed a hefty $209 million penalty on Sam Ikkurty, the operator of a fraudulent crypto pyramid scheme. The scheme deceived investors with promises of high returns but ultimately lost nearly all its value.

Read more here

What moved in the Crypto World Today

Tether Invests in Agri Company

Tether, the issuer of the USDT stablecoin, has diversified its holdings by investing $100 million for a 9.8% stake in Adecoagro, a leading Latin American agricultural giant. This marks Tether's first venture into the agriculture and food sector.

Read more here

Binance Subsidiary Gets Crypto License in Indonesia

Binance's Indonesian arm, Tokocrypto, has secured a Physical Crypto Asset Trader (PFAK) license. This license allows Tokocrypto to operate as a fully authorized crypto exchange, in Indonesia.

Read more here

Swiss BBVA Offers USDC to Institutions

BBVA's Swiss branch expands its offerings for institutional clients by integrating USD Coin (USDC), a stablecoin by Circle. This enables institutions to hold, exchange, and convert USDC to other fiat currencies.

Read more here

Bybit Gains Full License in Kazakhstan

Cryptocurrency exchange Bybit has secured preliminary approval for a full operating license in Kazakhstan. This advancement follows the initial licenses for operation and custody granted in June 2023.

Read more here

Funding Announcements

Our Canary tweets of the latest funding news:

1. App for airdrop farming, Dropnest received undisclosed funding from Manta Network.

   Read more here

2. Decentralized SocialFi video platform, Blabla raised undisclosed amount in Seed funding round from Nebula Investments, Blockchain Association of Europe (BCAEU), and Hopechain.

   Read more here

Whale Movements

1. Wallet 0x57c (linked to Ether.fi) deposited another 1.6M ETHFI ($2.06M) to Binance. Txn details here

2. Whale 0x14a withdrew another 1,522 ETH ($3.49M) from Binance. Txn details here

3. Whale 36LMb withdrew 999.999 BTC ($55.09M) from Binance. Txn detail here

Today’s Token Unlocks

Conflux (CFX) - $11.66M
Worldcoin (WLD) - $7.09M
XAI (XAI) - $6.61M

Coinversation Street

Our Canary brings some of the trending and informative tweets from the crypto world:

@dabit3 ELI5 on zkTLS:

@RunnerXBT shares their thoughts on markets:

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