Category: Top Crypto News

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Coal India’s Supplies to Power Sector Rise 14% – Top Indian Market News

Coal India’s supplies to power sector rise 14% amid surging demand

Coal India Ltd (CIL) has increased supplies to coal-based electricity generating plants by 14.2% in the first half of April. The company’s supplies have hit 1.6 million tonnes per day (MTPA) during this period. However, soaring power demand due to hotter-than-normal summer seems to have exceeded the upsurge in supplies. CIL is coordinating with the ministries of coal, power, and railways to build up stocks at power plants. 

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Amazon, Reliance, Sony competing for IPL broadcast rights: Report

Amazon.com, Inc., The Walt Disney Co., and Reliance Industries Ltd are among those that have signaled an intention to bid for the broadcast rights of the Indian Premier League (IPL). Sony Group Corp, Zee Entertainment Enterprises Ltd, and fantasy-sports platform Dream11 have also purchased bid-related documents from the Board of Control for Cricket in India (BCCI). The BCCI will be conducting the online auction from June 12 onwards.

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IndiGo, Qatar Airways reactivate codeshare partnership

Qatar Airways and IndiGo are reactivating their codeshare partnership following India’s decision to resume regular international passenger flights from March 27. In a codeshare partnership, each carrier on its distribution system can sell seats of other’s flights. As part of this expanded code-share agreement, Qatar Airways will place its marketing code on IndiGo-operated flights between Doha and Delhi, Mumbai, & Hyderabad, starting from April 25.

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L&T secures orders for its water & effluent treatment business

Larsen & Toubro Construction’s international arm has secured a contract for its water & effluent treatment business to construct and commission water supply schemes for various towns in Tanzania. The project will be funded by the EXIM Bank of India. The company has also received add-on domestic orders from the Uttar Pradesh State Water & Sanitation Mission to implement various rural water supply projects.

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Ajmera Realty targets sales value realisation of Rs 5,000 crore in the next 3-5 years

Ajmera Realty & Infra India Ltd expects to clock in sales worth Rs 5,000 crore in the next 3-5 years from its existing projects and future launches. The company also announced plans to launch six projects in the current and the next financial year with a revenue potential of Rs 4,000 crore. The funding for these new projects will be via a mix of internal accruals, bank funding, and sales advances.

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TCS expands multi-year partnership deal with IRONMAN Group Oceania 

Tata Consultancy Services (TCS) has expanded its partnership with The IRONMAN Group Oceania in a multi-year deal for Sun-Herald City2Surf, the world’s largest fun run. The IT firm will continue to power the official event app, enhancing the fun run experience with live results tracking and leader board data. It will also include custom City2Surf selfie frames and a personalised race-ready checklist.

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Patel Engineering secures contract worth Rs 419 crore from MCGM

Patel Engineering has bagged a contract worth Rs 419.70 crore from the Municipal Corporation of Greater Mumbai (MCGM). The scope of the contract involves the construction of a tunnel from Powai to Ghatkopar high-level reservoir and further up to Ghatkopar low-level reservoir. The work is scheduled to be completed in 51 months as per the contract terms.

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Reliance Jio loses 36 lakh subscribers in Feb, Bharti Airtel adds 15 lakh: TRAI 

Reliance Jio lost 36.6 lakh subscribers in February 2022, taking its total customer base to 40.27 crore. Bharti Airtel gained 15.91 lakh subscribers in Feb, while Vodafone Idea (Vi) lost 15.32 lakh subscribers. Airtel and Vi’s total customer count stood at 35.8 crore and 26.35 crore, respectively. The data was released by the Telecom Regulatory Authority of India (TRAI).

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Reliance Brands to acquire 51% stake in Abu Jani Sandeep Khosla

Reliance Brands Ltd (RBL) has signed a definitive agreement to acquire a 51% majority stake in couturiers Abu Jani Sandeep Khosla (AJSK). AJSK currently has three other labels— ASAL by Abu Sandeep (a formal, occasion & wedding wear, womenswear label) GULABO, and MARD (a formal and occasion wear men’s label). RBL is a subsidiary of Reliance Retail Ventures Ltd.

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CoinDCX Tops $2B in Valuation – Top Crypto News

CoinDCX tops $2B in valuation as investors pump in $135 million

CoinDCX has raised $135.9 million (~Rs 1,000 crore) from investors led by Pantera Capital and Steadview Capital. It has doubled its valuation to $2.15 billion in just 8 months to become the most valued crypto trading platform in India. So far, CoinDCX has raised over $245 million. The trading exchange will use the funds to increase its headcount from 400 to over 1,000 by the end of next year.

Crypto prices today: Bitcoin, ETH up 4%

Bitcoin is currently trading at $40,727, a 4.3% increase over the previous day. Ethereum is up 4.5% over the last 24 hours to $3,047.97. Solana rose 5% to $101.99, while Cardano is trading higher by 5.5% at $0.93. Meanwhile, Terra (LUNA) has surged 15.85% to $89.1. The global crypto market cap stands at $1.89 trillion, a 4.34% increase over the previous day.

Biggest risk of crypto is laundering, terror financing: Finance Minister

The biggest risk of cryptocurrency could be money laundering and its use for financing terror, said Union Finance Minister Nirmala Sitharaman. She added that no country can handle these risks alone, and crypto can be regulated only when countries come on board together.

Stablecoin variant “Gold Coins” emerging as first choice for crypto trading

Coins backed by gold are newer variants of “stablecoins”, which are typically pegged to the dollar to curb volatility. Pax Gold (PAXG) has jumped 7.4% in 2022, while its main rival Tether Gold has surged 8%. Stablecoins have emerged as a common medium of exchange. It is often used by traders to move funds across various platforms.

Hyundai to become the first automaker to enter NFT market

South Korea-based Hyundai Motor Company has announced its decision to enter the world of non-fungible tokens (NFTs). The automaker will partner with the ‘Meta Kongz’ NFT brand to create its own set of NFTs and a concept film. Hyundai also released a short film introducing the Hyundai NFT universe concept ‘Metamobility Universe.’ 

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Mastercard, Nexo Launch Crypto-Backed Payment Card – Top Crypto News

Mastercard, Nexo launch crypto-backed payment card

Crypto lender Nexo has partnered with global payments company Mastercard to launch the world’s first “crypto-backed” payment card. The card allows users to spend without having to sell their digital assets (such as Bitcoin), which are used as collateral to back the credit granted. The card is linked to a Nexo-provided, crypto-backed credit line. It can be used at 92 million merchants worldwide where Mastercard is accepted.

Crypto prices today: Bitcoin falls 3.2%, ETH down 4%

Bitcoin is currently trading at $39,021.2, a 3.25% decline over the previous day. Ethereum is down 4.14% over the last 24 hours to $2,917.5. Solana fell 4.9% to $97, while Cardano is trading lower by 7% at $0.88. Avalanche (AVAX) is down 5.5% to $73.4. The global crypto market cap stands at $1.81 trillion, a 3.76% decline over the previous day.

NBA Teases Ethereum NFTs for Playoffs After Launching Discord Server

The US National Basketball Association (NBA) has officially launched a new Twitter feed called NBAxNFT. The league plans to showcase all things intersecting basketball and Web3, including NFTs, gaming, and the metaverse. As part of that initiative, the NBA has established a Discord server, which already has more than 30,000 members. It also announced plans to release Ethereum NFTs tied to the current season’s playoffs.

Attacker drains $182M from Beanstalk Stablecoin Protocol

Beanstalk Farms, an Ethereum-based stablecoin protocol, was exploited for $182 million on Sunday. The attack was flagged on Twitter by blockchain security firm PeckShield. The market for Beanstalk’s BEAN stablecoin collapsed as a result of the attack. This flash-loan attack is the second nine-figure DeFi exploit in a month.

RocketX integrates 1inch and Binance to help users get best rates for tokens

RocketX Exchange has simplified crypto trading with the integration of Binance and 1inch, which supports 7 networks— Ethereum, BNB Chain (BSC), Polygon (Matic), Avalanche (AVAX), Gnosis, Arbitrum, and Optimism. This move will help users get the best rates for any token across 150+ exchanges on a single platform.

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Crypto Exchanges Block Deposits via State-Backed System – Top Crypto News

Crypto exchanges block deposits via state-backed system

Crypto exchanges CoinSwitch Kuber and WazirX have disabled rupee deposits for the purchase of cryptocurrency using UPI, a state-backed transfer system. The decision follows a statement last week by the National Payments Corporation of India saying it was not aware of any crypto exchange using its United Payments Interface (UPI) framework to conduct transactions.

Crypto prices today: Bitcoin up 0.1%, ETH rises 1.3%

Bitcoin is currently trading at $40,148, a 0.1% increase over the previous day. Ethereum is up 1.3% over the last 24 hours to $3,054.84. Solana rose 1.46% to $103.93, while Cardano is trading higher by 0.84% at $0.94. Avalanche (AVAX) rose 0.15% to $77.2. The global crypto market cap stands at $2.03 trillion, a 9.43% increase over the previous day.

Over one-third of Nigerians are invested in Bitcoin, other cryptos: Report

As per a Bitcoin Magazine report, nearly 35% or 33.4 million Nigerian adults have owned or traded Bitcoin or some form of crypto over the past 6 months. The report cited a report ‘Into The Cryptoverse’ released by KuCoin, which looked at the penetration of cryptos in various country demographics. Meanwhile, the Nigerian currency Naira has depreciated 209% over the past six years. More than 37% of crypto investors have entered the space over the past three years.

Crypto firm MoonPay raises $87M from high profile celebs

Crypto payments startup MoonPay has raised $87 million from more than 60 high-profile investors, including singer Justin Bieber, rapper Snoop Dogg, tennis player Maria Sharapova, and actor Bruce Willis. The investments are part of the firm’s Series A round, which valued the company at $3.4 billion. MoonPay provides payment infrastructure for crypto and NFT transactions.

Coinbase loses bid to force arbitration in crypto theft lawsuit

Crypto exchange Coinbase (COIN) has lost its bid to force arbitration in a lawsuit over the theft of a user’s crypto worth over $31,000. Abraham Bielski was contacted by a scammer last year claiming to be a PayPal representative. Bielski gave the individual remote access to his Coinbase account from which assets worth $31,039 were transferred.

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Pledge Launches Platform for NPOs to Accept Crypto Donations – Top Crypto News

Pledge launches platform for non-profits to accept crypto donations

Fundraising platform Pledge has started allowing non-profit organisations to accept donations in cryptocurrencies such as Bitcoin, Ethereum, and Tether. It also allows the instant conversation of crypto to a fiat currency. Entities can start accepting crypto donations in minutes, with no technical experience, crypto wallet, or KYC required.

Crypto prices today: Bitcoin, ETH falls 5%

Bitcoin is currently trading at $40,151.3, a 5.12% decline over the previous day. Ethereum is down 5% over the last 24 hours to $3,020.11. Solana fell 7.64% to $102.73, while Cardano is trading lower by 6.42% at $0.952. Avalanche (AVAX) fell 3.6% to $77.818. The global crypto market cap stands at $1.86 trillion, a 4.65% decline over the previous day.

CoinSwitch disables all crypto purchase options on app

CoinSwitch Kuber has disabled all modes of payments for purchasing crypto purchases on its platform, including bank transfers. This move will have a significant impact on the platform’s trading volumes which saw over 14 million users in 2021. Two days earlier, Coinbase had to disable the Unified Payments Interface (UPI), which was the only crypto purchase option on its platform.

Coinbase to produce Bored Ape Yacht Club animated short films

The Bored Ape Yacht Club plans to officially expand into the entertainment world. It will create a series of animated short films produced by Coinbase, entitled “The Degen Trilogy.” The films will feature characters based on the Bored Ape Yacht Club, a collection of 10,000 disinterested-looking ape NFTs.

Uniswap Labs forms Crypto Ventures Wing

Uniswap Labs, the company behind Ethereum-based decentralized exchange, has launched a venture wing to invest in projects across Web3. It has previously invested in 11 crypto projects, including Aave, Compound Protocol, and MakerDAO. The venture unit’s focus will range from infrastructure to developer tools and consumer-facing applications.

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New Russia Sanctions Include Crypto Wallets Targeted by EU – Top Crypto News

New Russia sanctions include crypto wallets targeted by EU

The European Union has targeted crypto wallets, banks, currencies, and trusts in its fifth package of sanctions on Russia. This move will allow EU to close potential loopholes that could allow Russians to move money abroad. Crypto wallets allow individuals to keep the password that gives them access to send, receive and spend crypto.

Crypto prices today: Bitcoin falls 1.2%, ETH down 2.2%

Bitcoin is currently trading at $42,248.4, a 1.18% decline over the previous day. Ethereum is down 2.23% over the last 24 hours to $3,176.1. Solana fell 1.7% to $110.3, while Cardano is trading lower by 2.5% at $1.02. Avalanche (AVAX) fell 4.85% to $79.80. The global crypto market cap stands at $1.94 trillion, a 1.94% decline over the previous day.

MobiKwik withdraws e-wallet services from crypto exchanges

MobiKwik has disabled its e-wallet services from all major crypto exchanges in India from April 1, according to senior executives from several crypto exchanges. The MobiKwik option continues to appear on some crypto apps, but the services are not functioning. Coinbase has also stopped payment services through United Payments Interface (UPI) on its platform for Indian users just three days after its launch in the country.

The withdrawal follows a statement published by the National Payments Corporation of India (NPCI), which operates UPI. On April 7, NPCI said they were not aware of any virtual digital asset exchange using UPI for transactions. 

Binance gets approval to operate as crypto broker in Abu Dhabi

Binance has received provisional approval to operate as a broker-dealer in virtual assets in Abu Dhabi. The company will be able to offer its services regarding virtual asset offerings to customers across the Middle East and North Africa (MENA) region through its subsidiary Binance (AD) Limited.

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SEC Approves Fourth Bitcoin Futures ETF – Top Crypto News

SEC approves fourth Bitcoin Futures ETF

The US Securities and Exchange Commission (SEC) has approved its fourth Bitcoin Futures Exchange Traded Fund (ETF). The SEC approved Teucrium Bitcoin Futures Fund, managed by Vermont-based Teucrium Trading. Teucrium is the fourth Bitcoin Futures fund to be approved, following Proshares (BITO), Valkyrie (BTF), and VanEck (XBTF) funds that all began trading late last year. 

Crypto prices today: Bitcoin up 0.3%, ETH rises 1.5%

Bitcoin is currently trading at $43,589, a 0.38% increase over the previous day. Ethereum is up 1.5% over the last 24 hours to $3,263.8. Solana rose 4.4% to $119.67, while Cardano is trading higher by 1.53% at $1.09. Avalanche (AVAX) rose 4.96% to $88.5. The global crypto market cap stands at $2.02 trillion, a 1.07% increase over the previous day.

Coinbase clarifies on UPI after NPCI statement

US-based crypto exchange Coinbase said it is committed to working with the National Payments Corporation of India (NPCI), which operates the widely adopted Unified Payments Interface (UPI). The statement comes a day after Coinbase announced that it had commenced retail crypto trading in India. The company said it would allow users to purchase crypto via UPI.

However, NPCI issued a clarification saying that it is not aware of any crypto exchange using UPI. As per reports, NPCI​’s stance is that UPI does not support crypto purchases.

Bolt pays $1.5B to acquire crypto startup Wyre

Online payment provider Bolt has acquired crypto service provider Wyre to provide one-click crypto payments. As per reports, the consideration paid for the acquisition is $1.5 billion (~Rs 11,380 crore). The Wall Street Journal claimed that this deal is the largest crypto acquisition to date. The tie-up has the potential to make crypto-based web payments more common.

Robinhood to use Lightning Network for Bitcoin transactions

Stock and crypto trading app Robinhood is planning to add the Bitcoin Lightning Network to its platform for faster BTC transactions. Lightning is a layer-2 network built on top of Bitcoin that allows faster, low-fee transactions. Eligible users from Robinhood’s beta crypto waitlist can now send and receive crypto through its crypto wallet feature.

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Coinbase Makes India Push With UPI Payments – Top Crypto News

Crypto giant Coinbase makes India push with UPI payments

Coinbase is adding support for the popular UPI payment instrument in India. This move will make the crypto exchange functional in the world’s second-largest internet market for the first time. Coinbase made the official launch at its maiden event in India on Thursday, saying that it is working to broaden its product offerings in the country. Users in India will be able to add and withdraw money from their accounts by using the UPI network.

Crypto prices today: Bitcoin, ETH down 4.3%

Bitcoin is currently trading at $43,504, a 4.36% decline over the previous day. Ethereum is down 4.3% over the last 24 hours to $3,222.6. Solana crashed 9.4% to $115.7, while Cardano is trading lower by 6.4% at $1.08. Terra (LUNA) fell 7.2% to $109.11. The global crypto market cap stands at $2 trillion, a 4.6% decline over the previous day.

The crypto market fell after Federal Reserve governor Lael Brainard reiterated the central bank’s commitment to quickly tightening monetary policy.

Meta to create tokens for Facebook’s Metaverse: Report

As per a Financial Times report, Meta (parent company of Facebook) is reportedly still interested in creating tokens for use within the metaverse. The company is exploring a centralised in-app token similar to ROBUX for the game Roblox. Some Meta staffers are reportedly referring to the tokens as “Zuck Bucks.” 

Solana NFTs can now be traded on OpenSea

Non-fungible tokens (NFTs) minted on the Solana blockchain network can now be traded on OpenSea, the largest NFT marketplace in terms of volume. OpenSea is primarily based around Ethereum and currently dominates the NFT trading space by a large margin. Solana saw $173 million in NFT trade volume during March, according to data tracker CryptoSlam. 

Binance.US valued at $4.5 billion after inaugural funding

Binance.US, the American subsidiary of Binance, has closed its first funding round for a pre-money valuation of $4.5 billion. Led by RRE Ventures, Foundation Capital, VanEck, and others, the $200 million seed round makes the firm the latest of several that have reached unicorn status. Binance.US said it offers the most competitively low trading fees (0.1%) of crypto exchanges available to U.S. investors.

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Bitcoin Held on Crypto Exchanges Reaches Multi-Year Lows – Top Crypto News

Bitcoin held on crypto exchanges reaches ‘multi-year lows’: Report

With Bitcoin (BTC) net outflows averaging 96,200 coins per month for the past two years, the cumulative BTC balances of exchanges have hit “multi-year lows,” as per crypto analytics firm Glassnode. More Bitcoin is heading away from exchanges and into addresses that periodically purchase BTC but don’t spend it. Glassnode pointed out that the amount of BTC being accumulated each day is much higher than the amount of new BTC being created. 

Crypto prices today: Bitcoin falls 2.3%, ETH down 4%

Bitcoin is currently trading at $45,486.8, a 2.37% decrease over the previous day. Ethereum is down 4.2% over the last 24 hours to $3,369.64. Solana fell 3.93% to $127.2, while Cardano is trading lower by 3.44% at $1.16. Meanwhile, Dogecoin jumped 9% to $0.165. The global crypto market cap stands at $2.10 trillion, a 2.8% decline over the previous day.

New bill rakes aim at El Salvador’s ‘careless gamble’ on Bitcoin

The US is pressing legislation aimed at protecting its financial system from El Salvador’s Bitcoin Law. American lawmakers introduced a new bill asking the State Department to mitigate the risks of El Salvador’s adoption of Bitcoin. Congresswoman Torres said the bill was necessary to protect the US financial system from El Salvador’s “careless gamble.” 

Dominance of public Bitcoin miners jumps nearly sixfold in 15 months

According to Blockchain.com, the dominance of public Bitcoin miners over network hash rate has increased more than sixfold in the last 15 months. Hash Rate is the rate at which Bitcoin miners generate possible answers for constructing Bitcoin’s next block. Comprising 19% of the network hash rate, public miners have a 19% probability of solving new blocks right now.

Coinbase to hire 1,000 people in India expansion

Crypto exchange Coinbase plans to quadruple the number of employees in India by year-end. The company will add 1,000 to the existing 300 staff at its Indian tech hub, which started last year. Coinbase will host a crypto community event in Bangalore to discuss the future of crypto and Web 3 in India.

Starbucks announces plans to get into NFT business

Starbucks CEO Howard Schultz has announced plans to get into the non-fungible token (NFT) business. The company is working on digital innovation through NFTs and plans for the continued evolution of partner benefits.

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UK Aims to Become ‘Crypto Asset Tech Hub’ – Top Crypto News

uk reports slow growth

UK Govt lays out plans to become ‘crypto asset technology hub’

The United Kingdom has announced plans to become a “global crypto asset technology hub.” The country’s Finance Ministry will create legislation to bring certain stablecoins into the regulatory framework. The government acknowledged that certain stablecoins have the potential to become a widespread means of payment, including by retail customers. Stablecoins are cryptos whose value is pegged to that of fiat currencies like the US Dollar, Euro, and UK Pound.

Crypto prices today: Bitcoin rises 1%, ETH up 0.5%

Bitcoin is currently trading at $46,585.62, a 1% increase over the previous day. Ethereum is up 0.54% over the last 24 hours to $3,516.2. Solana fell 2.6% to $132.28, while Cardano is trading lower by 2.08% at $1.20. Polygon (MATIC) fell 2.16% to $1.64. The global crypto market cap stands at $2.16 trillion, a 0.29% increase over the previous day.

Intel launches new Bitcoin mining chips focused on sustainability

Intel launched its “Intel Blockscale ASIC,” a second-generation Bitcoin mining chip. The chip features a 580 GH/s (gigahashes per second) hash rate, while consuming just 26 J/TH (joules per terahash), making it much more efficient. Hash rate measures how quickly a miner can generate answers to Bitcoin’s next block. Joules per terahash measure how much energy is consumed to produce every terahash.

Gensler wants SEC and CFTC to regulate crypto exchanges together

US Securities & Exchange Commission (SEC) Chair Gary Gensler has asked his staff to coordinate with the Commodity Futures Trading Commission (CFTC) to find ways to regulate platforms that facilitate the trading of both securities and non-securities. A joint SEC-CFTC registration and regulation process could eliminate some confusion by giving exchanges a single regulatory authority to turn to.

Crypto billionaire plans to give away 99% of his fortunes

The billionaire founder of crypto exchange FTX, Sam Bankman-Fried, plans to give away the vast majority of his wealth. According to Bloomberg, the 30-year-old drives a Toyota Corolla, lives like a college student, and has a goal of making as much money as possible so that he will have more to give away. The MIT grad learned effective altruism in 2012. The philosophy uses mathematical calculations to determine how people could do the most good with their money and time.

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FTX in Talks to Invest in Indian Gaming Startup MPL – Top Crypto News

bitcoin crosses $50000

FTX in talks to invest in Indian gaming startup MPL

India’s Mobile Premier League (MPL) is in talks to raise capital from several investors, including crypto exchange FTX as it prepares to make a push on Web3 capabilities. MPL operates over 60 mobile games, including sports-based, card-based, and fantasy. In recent weeks, it has informed some existing and new potential investors that it plans to launch play-to-earn and NFT-based games later this year.

Crypto prices today: Bitcoin falls 0.6%

Bitcoin is currently trading at $46,163.45, a 0.6% decline over the previous day. Ethereum is down 0.06% over the last 24 hours to $3,498.31. Solana fell 1.26% to $136.18, while Cardano is trading higher by 3.8% at $1.22. Meanwhile, Avalanche (AVAX) fell 2.5% to $96.94. The global crypto market cap stands at $2.16 trillion, a 0.25% decline over the previous day.

Crypto volumes in India see a dip as new tax rules kick in

According to Bitcoin.com, crypto volumes in India have dropped as the tax on digital assets kicked in on April 1. Finance Minister Nirmala Sitharaman, in her Budget speech, announced a 30% flat income tax on crypto income or digital asset investments. A 1% tax-deductible at source (TDS) on all digital-asset transfers above a certain size will start on July 1.

OpenSea to allow NFT purchases with bank cards, Apple Pay

OpenSea will allow users to buy non-fungible tokens (NFTs) using credit cards, debit cards, or Apple Pay. The move comes through a partnership with MoonPay, a fintech player that builds payment infrastructure in the crypto space. The move is set to expand OpenSea’s customer base to more non-crypto natives. 

Nearly half of crypto owners first bought digital assets in 2021: Survey

As per a survey by crypto exchange Gemini, almost half of all crypto owners in the United States, Latin America and Asia Pacific purchased digital assets for the first time in 2021. It was a blockbuster year for crypto, with inflation driving crypto adoption in countries that have experienced currency devaluation. Brazil and Indonesia lead the world in crypto adoption.

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EU Parliament Votes to Impose KYC on Private Crypto Wallets – Top Crypto News

EU Parliament votes to impose KYC on private crypto wallets

The European Union (EU) Parliament has voted to impose new regulatory measures that would prohibit anonymous crypto transactions. They have approved a proposal that would require crypto service providers (such as exchanges) to collect personally identifiable information from individuals who transact more than €1,000 using unhosted crypto wallets. Unhosted wallets are non-custodial wallets, which do not rely on third parties.

Crypto prices today: Bitcoin falls 4.7%, ETH down 3.9%

Bitcoin is currently trading at $44,891.56, a 4.7% decline over the previous day. Ethereum is down 3.9% over the last 24 hours to $3,267.89. Solana is up 0.8% to $123.16, while Cardano is trading lower by 5.7% at $1.14. Meanwhile, Avalanche (AVAX) fell 5.1% to $93.86. The global crypto market cap stands at $2.06 trillion, a 4.28% decline over the previous day.

Binance steps up hiring, activity in crypto hub Dubai

Crypto exchange Binance is recruiting over 100 positions in the United Arab Emirates (UAE) and is helping to shape Dubai’s new virtual assets regulations. The company’s links with the Gulf state have deepened in recent months as the UAE is trying to style itself as the world’s new digital assets hub. Binance is also helping Dubai’s financial free zone develop a virtual asset ecosystem.

US lawmakers introduce Stablecoin Transparency Act in Senate

Two U.S. lawmakers, Rep. Trey Hollingsworth and Sen. Bill Hagerty, introduced a new bill in both the House and Senate that aims at bringing greater transparency to the stablecoin marketplace. The “Stablecoin Transparency Act” will set standards for the quality of assets held in reserves. It will also require stablecoin issuers to report on their reserves. If passed, the bill would have a severe impact on stablecoin issuers like Circle and Tether.

India will frame crypto law after global consensus: Report

As per a Bloomberg report, India will frame legislation for crypto only after a global consensus emerges on regulating such assets. The government is not planning a law soon to either regulate or tighten provisions. Crypto investments have flourished in India after the Supreme Court set aside restrictions imposed by the Reserve Bank of India in March 2020.