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KuCoin, one of the most popular crypto exchanges, has launched an exchange-traded fund (ETF) to increase liquidity for NFT collections like Bored Ape Yacht Club (BAYC). This new service should help investors access non-fungible tokens and boost the assets’ widespread availability. The Seychelles-based exchange partnered with NFT infrastructure provider Fracton Protocol to ensure the project’s feasibility. A USDT-Dominated ETF The KuCoin NFT ETF is using Tether (USDT) as the crypto reference for its trading operations, including five different funds. The…

According to a recent report, Kryptovault AS, a large-scale, Norway-based crypto mining company is set to relocate North of the Arctic circle. The company’s plans to switch base stem from surging electricity prices in Norway, a phenomenon that seems confined to the region. Norway a Mining Hub Over the past couple of years, Norway has evolved into one of Europe’s biggest mining hubs. In a recent study, analysis firm Arcane Research noted that Norway is responsible for about 1% of…

According to a coin report from Sunday, crypto lending platform Celsius is in debt to the tune of $2.85 billion, contrary to its previous reports. The recent reveal could spell greater trouble for the bankrupt firm seeing as their chapter 11 filing had claimed a different figure. Contrasting Deficit Balances Celsius was one of several platforms that crumbled in the wake of the Terra crash. The company also felt the pressure from the ongoing crypto slump and filed for bankruptcy…

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $1,175 trillion. Bitcoin has increased by over 6% this week. Ethereum gained almost 17% over the past seven days. XRP is up by nearly 3% this past week. Almost all altcoins are trading in the green, with very few exceptions. The DeFi sector increased the total value protocols (TVL) to around $44 billion. Crypto…

The DAO website for sanctioned crypto mixer Tornado Cash appears to no longer be operational. According to social media reports, this is also true for the platform’s Discord server. DAO Website Stops Going Through Earlier this week, the United States Treasury Department’s Office of Foreign Asset Control imposed a sanction on the Ethereum-based protocol. Since then, the platform has seen some of its resources become inaccessible. Additionally, various entities have begun distancing themselves from Tornado Cash’s services. Hence, the platform’s…

Axie Infinity (AXS) has announced that its play-to-earn (P2E) platform will no longer offer token rewards on its classic game mode. The development team hopes its decision will help nudge users to its new game mode. Players will now have to use the newly launched Origin update to earn the game’s native currency, Smooth Love Potion (SLP). AXS to Balance SLP Economy Origin is the latest expansion in the Axie Infinity gaming ecosystem also known as Axie Battles v3. The…

The Bitcoin payments company Strike has partnered with Visa to integrate a ‘Visa card’ into its wallet app. This will allow Strike users to pay for goods and services in Bitcoin with any Visa-accepting merchant.  In a tweet on Thursday, Strike revealed its new Visa card, which it called the “Strike Card.” “You can now take Strike anywhere and earn rewards on everyday spending,” explained the company. The card rewards users with incentives for every purchase and charges no added…

Earlier this week, Netherlands’ financial watchdog the Fiscal Information and Investigation Service (FIOD) took a 29-year-old developer into custody. The FIOD carried out the arrest in Amsterdam due to suspicions of his involvement in money laundering operations using crypto mixer Tornado Cash. Tornado Cash Facilitating Crypto Crimes The arrest comes shortly after the US Department of Treasury announced sanctions against the privacy protocol. In a release, the Treasury cited Tornado Cash’s role in various crypto crimes since its inception in…

Harsh economic restrictions in Argentina have pushed the country’s football clubs towards cryptocurrencies. Recently, the first transfer of a football player via crypto instead of fiat occurred, marking a new era in football finances. Earlier this month, Sao Paulo Futebol Clube from Brazil paid $6-$8 million worth of USDC to Banfield’s Athletic Club for midfielder Giuliano Galoppo. The oscillating gap reflects the tempestuous value fluctuations between the US Dollar and the Argentinean Peso. The First Football Cryptocurrency Signing Galoppo's transfer…