The outlook for projects in the decentralized finance (DeFi) sector has begun to improve in recent months as a combination of global events have highlighted the benefits of holding funds outside of the traditional financial systems. One project that has rallied over the past few months is Kyber Network (KNC), a multi-chain cryptocurrency trading and liquidity hub that aims to offer users the best trading rates. Data from Cointelegraph Markets Pro and TradingView shows that after bouncing off a low of $2.83 on April 6, the price of KNC jumped 55.4% to hit an all-time high of $4.04 on April …

The Russian prime minister declared that the cryptocurrency holdings of Russians are worth billions of dollars but the government is yet to adopt a regulatory framework for the industry. Russians collectively hold more than 10 trillion rubles ($130 billion) in cryptocurrencies like Bitcoin (BTC), Russian prime minister Mikhail Mishustin claimed at the annual report presentation of the Russian government on Thursday. The prime minister did not mention the source for this figure, noting that the amount is based on “various estimates,” stating: “We are well aware that we have more than 10 million young people having opened crypto wallets so …

The billion-dollar music industry has shown recent interest in nonfungible tokens (NFTs) as musicians everywhere are beginning to understand the power of moving away from centralized business models. This concept is currently being demonstrated by early innovators like the popular rapper Snoop Dogg, who recently acquired Death Row Records with plans to transform the company into the first NFT recording label in the Metaverse. Country music icon Dolly Parton also recently launched her first NFT collection dubbed “Dollyverse,” which consists of tokenized artwork and music as part of a promo for her album Run, Rose, Run. NFTs: A topic of …

On Wednesday, centralized cryptocurrency exchange Binance launched its new TerraUSD (UST) staking program. Although Binance did not name the underlying decentralized finance protocol responsible for the staking rewards, Do Kwon — Terra Luna's (LUNA) co-founder — attributed the origins of the high yield to Terra's flagship Anchor protocol. Anchor rate is now available to 30M+ binance users The anchor yield of web3 is living up to its name. https://t.co/awubGdRJgP — Do Kwon (@stablekwon) April 6, 2022 Terra Luna's ecosystem consists of its algorithmic stablecoin UST and governance/equilibrium token LUNA. The Anchor protocol alleges that it operate as a "crypto savings …

Binance .US, the American partner of Binance, the world’s largest cryptocurrency exchange by trading value, has completed its first-ever external funding from investors like Circle Ventures. Binance.US has raised more than $200 million in a seed round to reach a pre-money valuation of $4.5 billion, the firm announced to Cointelegraph on Wednesday. Circle's venture arm Circle Ventures joined the funding round. “Circle Ventures is excited to invest in Binance.US. We are committed to helping create a robust and competitive digital assets ecosystem,” Circle’s chief financial officer Jeremy Fox-Geen said. The funding round also involved VanEck, one of the first United …

The last week of March saw the decentralized finance (DeFi) market surge to new highs as institutional investors returned to the market. Amid the rising popularity of DeFi products, Axie Inifity’s Ronin bridge faced the worst hack in crypto history, raising security concerns for the market. MetaMask integrated Apple Pay support, allowing users to purchase crypto using their Apple Pay account directly, and Binance launched Bridge 2.0 to integrate CeFi and DeFi into one platform. Looking at the price side, the majority of DeFi tokens in the top 100 not only registered double-digit gains but also rose to new multi-month …

Delegates at the Binance Blockchain Week talked about their Web3 stories and the growth of Web3 opportunities within their local communities. The recent conference brought crypto community members from all over the world to share their passions, meet like-minded people, learn from keynote speeches by community leaders, and share their perspectives on the state of Web3. One of the topics people showed interest in was the growing demand for Web3 talent. As the internet is evolving from Web2 into Web3, reports show that the demand for talent within the Web3 space is rapidly increasing and there are lots of opportunities …

A federal judge has dismissed a class action complaint asserting Binance violated U.S. securities laws by not registering as a broker-dealer or exchange, and sold crypto tokens which were not registered with the U.S. Securities and Exchange Commission (SEC). The original complaint filed in the U.S. District Court for the Southern District of New York was brought by a group of investors who say they invested in the tokens EOS, BNT, SNT, QSP, KNC, TRX, FUN, ICX, OMG, LEND, ELF, and CVC around 2017 and 2018. An amended complaint was filed, only listing nine tokens, with BNT, SMT, and CVC …

The Recording Academy, a major music recording company famous for its annual music awards Grammy Awards, has inked a partnership with Binance, the world’s largest crypto exchange by trading volumes. According to a joint announcement on Thursday, Binance became the first-ever official crypto exchange partner of the 64th Annual Grammy Awards and Grammy Week events to bring various Web3 technology solutions and experiences to the organization's events and projects. The partnership was announced just a few days before the 64th Grammy Awards ceremony, which will take place on April 3 at the MGM Grand Garden Arena in Las Vegas. Recording …

Cryptocurrencies were designed to lead a new era of global financial inclusion, providing people access to financial services that they would otherwise be unable to have. Through a simplified financial structure, individuals and businesses around the world are finally having their needs met, and this transformation is believed to reduce poverty, improve prosperity and transform how the world transacts on a large scale. Although freedom of money is the objective, the technology is still in its early stages of adoption. Therefore, it is the exchanges and infrastructure providers that now hold a pivotal role in providing an initial touchpoint for …

On March 29, centralized cryptocurrency exchange Binance announced the rollout of Binance Bridge 2.0. The feature enables users to bridge assets from any blockchain, including from tokens not listed on the Binance app, to the BNB Chain. Bridged tokens listed on Binance will be stored in the Funding or Spot Wallet, while unlisted bridged tokens will be transferred to the Funding Wallet only. Users can bridge-in or bridge-out tokens between their native blockchains and BNB Chain via regular deposit and withdrawal functions. In the future, Binance also plans to create a better version of its mobile app to allow users …

Cardano founder Charles Hoskinson gave a keynote speech on the first day of this year’s Binance Blockchain Week, held at the Dubai World Trade Centre in the United Arab Emirates. Addressing the audience, Hoskinson used his keynote to discuss topics like Bitcoin (BTC), Web3 and philosophy, bringing up topics like what happens next when the community moves forward from the comfort of Bitcoin and toward centralization. “As blockchains become more advanced and more powerful, we have to start making some difficult and uncomfortable philosophical decisions.” The CEO raised questions about Web3 and what the lines are between decentralization and regulation. …