Circle Ventures has made an undisclosed investment in decentralized trading platform edgeX, signaling deeper involvement ahead of the project’s planned token launch before the end of March. Alongside the investment, Circle plans to integrate USDC and its Cross-Chain Transfer Protocol (CCTP) onto edgeX’s underlying blockchain, known as EDGE Chain. edgeX Growth and Trading Activity Founded in 2024, edgeX operates a decentralized perpetual futures exchange across web and mobile platforms. The project reports more than 295,000 users, roughly $5 billion in daily trading volume, and close to $1 billion in open interest. Adoption has been strongest in Asia, driven by a…
Author: Blockto Team
The United Kingdom’s Financial Conduct Authority (FCA) has filed High Court proceedings against Panama-based cryptocurrency exchange HTX, formerly known as Huobi Global, for repeatedly promoting crypto products to UK consumers in violation of financial advertising rules. The action follows prior warnings from the regulator about HTX’s noncompliance. Illegal Promotions Across Multiple Platforms The FCA stated that HTX continued publishing financial promotions on social media channels including TikTok, X, Facebook, Instagram, and YouTube, as well as on its website, despite being informed that such activity breaches the Financial Promotions (FinProm) Regime introduced in October 2023. The regulator obtained permission on February…
A federal court in California has sentenced fugitive Daren Li to 20 years in prison for orchestrating a large-scale cryptocurrency investment scam that defrauded U.S. victims of more than $73 million. The sentence was issued in absentia after Li fled supervision by removing his court-ordered electronic monitoring device. Li, a dual national of China and St. Kitts and Nevis, also received three years of supervised release following imprisonment. Authorities say the scheme was operated through organized scam centers based in Cambodia and targeted victims across the United States. How the Cryptocurrency Scam Operated Prosecutors detailed how the fraud relied heavily…
Bitcoin is struggling to reclaim the $70,000 mark, while Ethereum has seen modest declines, leaving the largest cryptocurrencies largely flat. In contrast, memecoins and AI-linked tokens are driving gains, reflecting increased speculative interest despite persistent “extreme fear” in market sentiment. The Memecoin Index rose 1.5% over 24 hours, with PIPPIN climbing nearly 46%, outperforming traditional large-cap cryptocurrencies. AI-Linked Tokens Show Strength Tokens associated with artificial intelligence have also performed well. WLD, co-founded by OpenAI CEO Sam Altman, rose more than 3%, while Virtuals’ VIRTUAL token increased 2.4%. These gains coincide with growing interest in “agentic AI” applications, where AI tools…
The latest U.S. retail sales report revealed a sharp loss of momentum in consumer spending, with both headline and core figures missing expectations by a wide margin. Retail Sales month-over-month came in flat at 0.0%, well below the 0.4% forecast and sharply lower than the previous 0.6% increase, pointing to a sudden pause in household demand. Core Retail Sales, which exclude autos and offer a clearer view of underlying consumption trends, painted an equally cautious picture. Core Retail Sales m/m also printed at 0.0%, missing the 0.3% forecast and down from the prior 0.5% reading. This outcome suggests that the…
Several publicly listed U.S. companies holding Solana (SOL) as a treasury asset are now facing over $1.5 billion in paper losses, based on disclosed acquisition costs versus current market prices. The losses are concentrated among a handful of firms controlling more than 12 million SOL tokens, approximately 2% of Solana’s total supply. Largest Treasury Holders and Loss Exposure Forward Industries, the largest holder, purchased roughly 6.9 million SOL at an average of $230 per token. With SOL trading around $84, the company faces over $1 billion in unrealized losses. Sharps Technology, which invested $389 million near Solana’s peak, has seen…
The Ethereum Foundation has entered a new security-focused collaboration with the Security Alliance (SEAL) aimed at reducing wallet drainers and social engineering attacks targeting Ethereum users. The initiative reflects growing concern over increasingly sophisticated phishing campaigns that have drained billions from crypto holders over the past several years. Trillion Dollar Security Initiative Explained As part of the partnership, SEAL and the Ethereum Foundation launched the Trillion Dollar Security initiative, a long-term effort designed to improve Ethereum’s resilience as adoption scales. A key component of this program is direct funding for a dedicated security engineer whose sole responsibility is tracking, analyzing,…
Gemini’s decision to withdraw from the United Kingdom has reignited debate over whether the country’s regulatory approach is discouraging crypto firms rather than attracting them. The exchange has chosen to narrow its international footprint, prioritizing the United States and Singapore while exiting the UK, European Union, and Australia. UK Crypto Regulation Challenges The UK government has repeatedly stated its ambition to position the country as a global center for crypto innovation. That vision included plans for stablecoin regulation and closer engagement between regulators and industry. However, progress has been slow, leaving firms operating under interim rules, overlapping compliance obligations, and…
Ledger has announced a new integration that will allow users to swap cryptocurrencies directly through OKX’s decentralized exchange within the Ledger Wallet. The move is part of Ledger’s broader strategy to provide secure, self-custodial access to decentralized finance while maintaining hardware-level protection of private keys. Hardware-Signed Swaps Without Intermediaries With the integration, Ledger Wallet users can execute onchain token swaps while signing every transaction using a Ledger hardware device. This setup ensures users retain full custody of their assets, avoiding reliance on centralized intermediaries. Multi-Network and Deep Liquidity Support The feature supports swaps across major blockchain networks, including Ethereum, Arbitrum,…
The recent volatility in digital asset markets reflects a broader shift in crypto’s relationship with traditional finance, according to comments from a senior U.S. central bank official. As institutional participation increases, crypto price swings are increasingly shaped by the same risk dynamics that affect mainstream financial markets. Crypto Volatility Seen as Part of Market Maturation The surge of optimism that followed recent political developments has begun to cool, with enthusiasm giving way to more cautious positioning. As crypto becomes more integrated with established financial institutions, market moves are less isolated and more sensitive to broader financial conditions. Sell-offs, according to…