Author: Admin

Ethereum gas consumption has plummeted 99.99% since The Merge, transforming the network into a more environmentally friendly platform. One year after the major upgrade, The Merge, which marked the transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS) consensus, Ethereum has achieved certain improvements, including a record drop in gas consumption. According to data from Glassnode Alerts, Ethereum’s daily energy consumption has been down 99.9% post-Merge. Additionally, gas fee pressure on the Ethereum network has eased despite the recent SocialFi hype. In the past, gas fees on the Ethereum network were inclined…

In a Court Filing, the U.S. Securities and Exchange Commission (SEC) pointed to Binance’s document production, regulatory violations, concerns about asset control, inconsistent statements, uncooperative responses, and limited cooperation in providing witness testimonies. The securities regulator alleged that Binance.US’s holding company, BAM, failed to provide sufficient documents upon the agency’s discovery requests related to customer assets. According to the document, BAM submitted only 220 documents during the discovery process. However, these documents included “unintelligible screenshots” and items lacking “dates or signatures.” More Problems for Binance The SEC also accused Binance.US…

JPMorgan Chase & Co., one of the most well-established financial institutions in the world, is reportedly developing a new blockchain-powered deposit token for cross-border transactions and settlements. Bloomberg first reported the exploration on August 8. With this move, the banking giant aims to accelerate cross-border settlement processes. The new deposit token will target enterprise clients at the beginning. JPMorgan previously introduced the JPM Coin as a solution for instantaneous transactions between the bank’s customers. The deposit token, on the other hand, has similar functionality as stablecoin and central bank digital…

India is replacing a complete crypto ban plan with regulations, The Indian government is reportedly developing a legal framework on cryptocurrency following the G20 Summit on September 9 and 10. Accordingly, the 2023 G20’s outcome shed light on the coming crypto guidelines, which was crafted in a joint policy recommendation by the International Monetary Fund (IMF) and the Financial Stability Board (FSB). The IMF-FSB-backed proposals primarily targeted the regulation of stablecoins and decentralized finance (DeFi) activities. However, the demand for other tokens in large in India. The policy paper explained…