While the EU advanced on crypto regulation with MiCA, the situation is a bit different in the United States… 🇺🇸 The CLARITY Act is the US’ attempt to create a proper rulebook for crypto, but it’s being awaited ⏳ The Senate is busy with other legislation, while lawmakers are still debating various topics from AML rules for DeFi to Stablecoin reward programmes… and even ethics! 👀 The goal there is to set restrictions for government officials’ involvement in crypto projects (yep, Trump’s crypto ventures and memecoin launch are one reason for this talk). Why should you care if you’re not in the US? 🤔 The US is still the world’s biggest financial market, and many major crypto companies are based there. Clearer US regulation could benefit the whole industry. Read more 👉 https://venga.com/en/blog/the-clarity-act-why-everyone-is-still-waiting/ For now, the Senate is expected to revisit the bill after its August recess, likely in September. Until then, the wait continues…
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Robinhood built a blockchain for stocks… but ended up with Memecoins 😅 On July 1, Robinhood launched its own Ethereum Layer-2, Robinhood Chain. With it, the mission is to bring stocks, ETFs, and other RWAs on-chain, making them: ⌚️ available for 24/7 trading 🔒 storable in self-custody wallets 💻 compatible with DeFi applications But since its launch, the network has been dominated by… memecoins! So far, over 99% of trading volume has come from memecoins, followed by some crazy pumps and speculation! Nevertheless, the chain’s launch was quite a success. In its first week, it recorded: 🔁 17M+ transactions 💼 350K wallet addresses 📊 $1B+ in DEX volume during its first week Now, the question is whether it can convert that early hype into long-term adoption of tokenized RWAs 🤔 Read more 👉 https://venga.com/en/blog/robinhood-build-a-blockchain-for-stocks-but-got-memecoins/ Will Robinhood become a RWA leader… or accidentally the next memecoin go-to place? 👀
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The exchange that introduced perpetual futures in crypto is saying goodbye 👋 After 11 years, @BitMEX will officially shut down on September 23. For many crypto veterans, BitMEX was where perpetual futures began ⏪ Back in 2016, it introduced the product that would go on to dominate crypto derivatives, with leverage of up to 100x and more than $1 trillion in annual trading volume at its peak. But the crypto industry has changed. Larger centralized exchanges and newer decentralized platforms have come in to take over. So, after a strategic review, BitMEX’s owner, HDR Global Trading, has decided to cease operations. ❌ Read more 👉 https://venga.com/en/blog/bitmex-says-goodbye/ If you’re still using BitMEX, remember: ⚠️ New positions will be blocked from August 26 💰 Withdraw your funds before September 23 to avoid maintenance fees Despite its controversial history and regulatory battles, BitMEX leaves behind a legacy that truly shaped crypto trading.
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