A new crypto exchange called EDX Markets has been launched, backed by heavyweights such as Citadel Securities, Fidelity Investments, and Charles Schwab. The platform offers trading for major cryptocurrencies like BTC, ETH, LTC, and BCH, without storing the digital assets themselves. Plans are also in place to unveil EDX Clearing, a service designed to settle trades matched on EDX Markets, later this year.
On the regulatory front, top Bitcoin miner Core Scientific filed for Chapter 11 bankruptcy in the United States to reorganize its financial situation and emerge stronger. Concerns about the regulatory environment for cryptocurrencies continue, with the Canadian Securities Administrators (CSA) urging citizens to be cautious of fraudulent trading platforms claiming affiliation with nonexistent regulatory bodies.
In a related incident, concerned individuals reported a malicious ‘Trezor’ app on Apple’s App Store, which has since been removed. The app masqueraded as a legitimate wallet, but aimed to steal users’ seed phrases to gain control of their crypto assets. This only further underlines the importance of vigilance and due diligence when using cryptocurrency services.
Artificial Intelligence (AI) governance takes center stage in the United States, as lawmakers propose a National AI Commission Act to create a comprehensive panel to study the country’s approach to AI regulation and oversight and ensure long-term alignment with the nation’s values and interests.
Meanwhile, Hong Kong-based blockchain gaming investor Animoca Brands teamed up with Celo to scale Web3 gaming on Celo’s mobile-first infrastructure. This partnership is expected to create new opportunities for climate action and social impact, utilizing the power of blockchain technology for good.
In the Decentralized Finance (DeFi) sector, a strategic alliance has been announced between NUVO and Nebulai to revolutionize talent marketplaces by merging blockchain technology and user-centric data control. The collaboration aims to provide a superior experience for businesses and individuals alike.
Finally, stablecoin issuer Tether revealed plans to launch its popular USDT stablecoin on the layer-1 blockchain Kava. This move further supports the growth and adaptation of stablecoins, with USDT already operating across multiple networks such as Ethereum, Solana, Algorand, and Tron.
The landscape of crypto and blockchain industries is ever-changing, with innovations and challenges arising daily. While some developments bring new investment opportunities and exciting advancements, others highlight the importance of strong security measures and regulatory scrutiny. It is essential for enthusiasts and investors to stay informed and continuously adapt to the shifting dynamics of this forward-thinking space.
Source: Cryptonews
