HUMBL issued US patent for blockchain payments technology

October 18, 2024 Coin Telegraph

Blockchain

The company’s CEO described getting a blockchain patent in the US as “a very challenging process.”

Blockchain firm HUMBL recently announced that the United States Patent and Trademark Office (USPTO) formally issued a patent for the company’s blockchain technology.

The patent was issued on Oct. 15 for HUMBL’s nebulously titled “System and Method for Transferring Currency Using Blockchain.”

While this isn’t the first company to receive a US patent for blockchain-related technology, the time frame surrounding the patent’s approval and issuance highlights one of the regulatory difficulties faced by small businesses in the blockchain and cryptocurrency industries.

Illicit crypto volumes likely B in 2024, but overall share falls: Chainalysis

Illicit crypto volumes likely $51B in 2024, but overall share falls: Chainalysis

US lagging behind in global stablecoin adoption — Chainalysis

October 17, 2024 Coin Telegraph

Bitcoin

Growing demand for US dollar-backed stablecoins and regulatory uncertainty in the US are the key reasons for stablecoins thriving in other jurisdictions.

The United States has seen record Bitcoin activity since the launch of spot BTC exchange-traded funds (ETFs). However, stablecoin adoption in the US has slowed in 2024 compared to global markets, according to an Oct. 17 report from Chainalysis.

US markets have recorded a significant shift in stablecoin activity this year, with the share of stablecoin transactions on US-regulated exchanges dropping from roughly 50% in 2023 to below 40% in 2024.

In contrast, the share of stablecoin transactions on non-US regulated platforms has surged since 2023, breaking 60% in 2024, according to Chainalysis’ latest report on crypto adoption trends in North America.

Illicit crypto volumes likely $51B in 2024, but overall share falls: Chainalysis

Bipartisan support for crypto is ‘fragile’ — Congressman John Curtis

October 11, 2024 Coin Telegraph

Coin Telegraph

71 Democrats joined their Republican colleagues in a rare bipartisan effort to repeal the SEC’s SAB-121 guidelines from earlier this year.

Congressperson John Curtis, a United States representative for the state of Utah, took the stage at Permissionless III with Utah Senator Mike Lee to discuss the future of digital asset policy in the country.

When asked if the bipartisan cooperation on the repeal of Staff Accounting Bulletin-121 (SAB-121) — which made it incredibly restrictive for banks to custody crypto — was making a comeback, the member of Congress responded, “I think so, but it’s very fragile.” He continued:

“So, I think it’s important to find connection points with Democrats” to reach a consensus on regulatory policy, Curtis concluded, before noting that fellow lawmakers had trouble understanding the complexity of cryptocurrencies.

Illicit crypto volumes likely $51B in 2024, but overall share falls: Chainalysis

Crypto.com sues SEC to ‘protect the future of crypto’ in US

October 8, 2024 Coin Telegraph

Coin Telegraph

Crypto.com’s lawsuit against the US SEC follows the exchange’s receipt of a Wells notice from the agency.

Major cryptocurrency exchange and service provider Crypto.com is launching a legal battle against the United States Securities and Exchange Commission with the goal of protecting the future of the crypto industry in the country.

Kris Marszalek, co-founder and CEO of Crypto.com, took to X on Oct. 8 to officially announce that the company has filed a suit against the US SEC.

“This unprecedented action by our company against a federal agency is a warranted response to the SEC’s regulation by enforcement regime, which has hurt more than 50 million American crypto holders,” he wrote.

Illicit crypto volumes likely $51B in 2024, but overall share falls: Chainalysis

Crypto.com’s US exchange lists 4 memecoin derivatives

October 8, 2024 Coin Telegraph

Bonk

Traders can now hedge exposure to memecoins including PEPE and FLOKI.

Crypto.com’s North American derivatives exchange, Nadex, has listed derivatives contracts tied to memecoins including PEPE and FLOKI, according to Oct. 7 filings with the United States Commodity Futures Trading Commission (CFTC).

Nadex has also listed derivatives products tied to Dogelon Mars (ELON) and BONK, according to the filings.

The combined market capitalization of the four memecoins underlying Nadex’s contracts is nearly $7 billion, according to CoinMarketCap.

Illicit crypto volumes likely $51B in 2024, but overall share falls: Chainalysis

Bitcoin decentralization is a matter of national security — Auradine CEO

October 4, 2024 Coin Telegraph

ASIC

According to CryptoQuant, the current Bitcoin network difficulty is 88.4 trillion — down from the 92 trillion recorded on Sept. 20, 2024.

Maximizing Bitcoin (BTC) decentralization throughout the entirety of the stack is a matter of national security, Rajiv Khemani, co-founder and CEO of mining chip manufacturer Auradine, told Cointelegraph.

The CEO explained that third-party firmware — which updates and changes over time — could theoretically be used to compromise the energy grid or launch a 51% attack on the Bitcoin network.

Auradine’s CEO outlined a potential situation where malicious code embedded within this firmware could shut down mining operations within a certain geography. This could cause a drop in hashrate and network difficulty, making a 51% attack easier to execute.

Illicit crypto volumes likely $51B in 2024, but overall share falls: Chainalysis

6 things the US needs to stay competitive in crypto, according to execs

September 28, 2024 Coin Telegraph

Banking

The US is in danger of being left behind by more progressive jurisdictions in Asia, Europe and elsewhere.

The United States blockchain industry is falling behind more progressive jurisdictions, particularly in Asia, according to crypto industry leaders.

Fiona Murray, the managing director of Ripple Asia Pacific, told Cointelegraph that a “lack of open-mindedness” in the US is driving business overseas.

And while much of the industry is unhappy with the current regulatory landscape, there are other important factors curbing US growth.

Illicit crypto volumes likely $51B in 2024, but overall share falls: Chainalysis

Will Trump pardon SBF? 6 weird Polymarket betting pools on US politics

September 24, 2024 Coin Telegraph

Betting

As the US elections approach, crypto policy betting surges on Polymarket. From traditional political predictions to quirky, unexpected wagers, users are placing bets on what’s to come.

Crypto betting platform Polymarket has received mainstream attention as betting pools on the United States presidential elections have helped the platform surpass $1 billion in volume.

Polymarket allows individuals to anonymously create market betting pools on almost any event, with outcomes determined in a binary “yes” or “no” format. While most users focus on straightforward bets, a subset of investors gravitate toward more unorthodox wagers.

As election day approaches and crypto policies become a prominent topic in the campaign, a wide range of wagers related to politicians and crypto policies are on the rise. These bets range from conventional political predictions to humorous and bizarre speculations.

Illicit crypto volumes likely $51B in 2024, but overall share falls: Chainalysis

Investment managers eye ‘extraordinary upside’ from BTC options debut

September 23, 2024 Coin Telegraph

Bitcoin

They could potentially spark an "explosively recursive” price upside for Bitcoin, according to one investment manager.

Investment managers expect the United States debut of options on spot Bitcoin (BTC) exchange-traded funds (ETFs) to accelerate institutional adoption and potentially unlock “extraordinary upside” for spot BTC holders.

On Sept. 20, the US Securities and Exchange Commission (SEC) greenlighted Nasdaq’s electronic securities exchange to list options on BlackRock’s iShares Bitcoin Trust ETF (IBIT). It marked the first time the regulator approved options tied to spot BTC for US trading.

Listing spot BTC options on regulated US exchanges — where the Options Clearing Corporation (OCC) safeguards traders against counterparty risk — marks a “monumental advancement” in cryptocurrency markets and creates “extremely compelling opportunities” for investors,” Jeff Park, Bitwise Invest’s head of alpha strategies, said in a Sept. 20 X post.

Illicit crypto volumes likely $51B in 2024, but overall share falls: Chainalysis

Three-Mile Island nuclear site reopening to power AI

September 21, 2024 Coin Telegraph

The site was ground zero for a partial nuclear meltdown in 1979, which affected a separate unit and caused nearby areas to evacuate.

Microsoft has signed a deal with the Constellation Energy Corporation — the owner of the Three-Mile Island nuclear site — to reopen the Pennsylvania facility and provide the tech company with clean energy for its artificial intelligence operations.

The 20-year deal between Microsoft and Constellation will see the restoration of the Three-Mile Island Unit 1 reactor to host the "Crane Clean Energy Center" as part of the tech giant's commitment to powering its artificial intelligence business through carbon-free power.

As part of the agreement, Constellation Energy will supply 835 megawatts of power to Microsoft and spend approximately $1.6 billion to bring the facility online — a goal the energy provider hopes to accomplish by 2028.

United States

Share this video