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The bitcoin cash-Korean won (BCH/KRW) pair listed on Upbit has registered a trading volume of $557.63 million in the past 24 hours. That’s nearly 3.5 times

The Securities and Exchange Commission (SEC) will present its response to Coinbase’s first legal defense, filed Thursday, on July 13, the court has ordered.

BTC price gains and trading activity have mostly concentrated during U.S. market hours, according to K33 Research.

The latest expansion of the Lacoste Web3 universe grants holders access to “creative sessions, contests, video games and interactive conversations.”

In comments Thursday at a Madrid event on financial stability, Fed Chair Jerome Powell said that “it will take time for the full effects of monetary restraint to be realized.”

Long-term holders of Azuki NFTs are selling off the digital assets en masse after the Elementals drop. 

Defined as holding onto the non-fungible token for more than a year, 132 long-term Azuki holders sold their NFTs during or after this week’s drop of the new Elemental collection. That was a 817% spike in long-term holders selling their Azukis, according to crypto data provider Nansen. 

Launched a couple days ago, Elementals is a new NFT collection which belongs to the Azuki ecosystem, a blue-chip brand in the world of digital assets. The first 20 minutes of the launch was reserved exclusively for owners of Azuki NFTs. An entire batch of 10,000 NFTs sold in about 15 minutes, generating $37.5 million in revenue. That was in addition to another 10,000 Elementals being airdropped to existing Azuki members.

Because of the speed in which the new Elementals collection sold out, the general public never had a chance to buy into the Azuki ecosystem.

Beanz sell-off 

Holders of Beanz Official non-fungible tokens, a collection of 20,000 anthropomorphic-bean NFTs that act as “sidekicks” to the human avatars featured in the main Azuki collection, were also able to purchase Elementals during the exclusive 20-minute window. Since then, Beanz non-fungible tokens have also been part of a major sell off as 89 established owners have sold the digital assets since the Elementals launch; a 155% increase in long-term Beanz holders unloading the NFTs.

“The significant sell-off appears to be largely attributed to Blur’s lending platform,” said Brad Kay, research analyst at The Block Research. “Before the airdrop, Azuki and Beanz had 700 and 550 outstanding loans respectively. Following the Elemental minting, which triggered a flash sell-off, over 50% of outstanding loans were liquidated/repaid. While values have recovered to pre-airdrop levels, the substantial increase in supply may have catalyzed this cascade event.”

Elements of confusion

Some in the Azuki community have lamented that the Elementals launch failed to live up to the promise of growing the ecosystem by adding new members. In addition, critics noted that the new NFT collection — teased as including new attributes like flourishes of lightning, water, earth and fire — looked too similar to Azuki’s original collection. 

The Azuki team said they “missed the mark” with the Elemental drop and promised to do better in the future.

The Azuki NFT collection, a subsidiary of the Los Angeles-based startup Chiru Labs, launched in January 2021. This week’s Elementals drop caused Azuki trading volume to reach its highest level in over a year, according to The Block’s Data Dashboard.

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The two new members will help the Special Council “administer DAO proposals and serve the vision of the community,”

Crypto donations directed toward Russian military fundraising groups since the beginning of the Ukraine invasion have reached $20 million, Elliptic said in a report released this week.

Nearly two-thirds of pro-Russian crypto funds involve entities sanctioned by the U.S., Elliptic said. Ukraine’s highly publicized crypto donation campaign, meanwhile, has raised at least $212 million. 

“Pro-Russian donations have gradually increased their momentum compared to pro-Ukrainian donations,” Elliptic said.

Entities involved in crypto payment rails include the U.S.-sanctioned Task Force Rusich group of PMC Wagner mercenaries. Elliptic also found that senior officials of the so-called Donetsk People’s Republic have been rewarding defectors and intelligence about Ukrainian military positions with bitcoin.

Bitcoin is the digital asset of chose for most donations

The Elliptic researchers found over 80% of funds channeled to sanctioned entities ended up on exchanges, revealing considerable sanction evasion risks from exchanges if proper compliance measures aren’t in place.

Bitcoin was found to be the digital asset of choice for most Russian donations, with comparatively little utilization of DeFi protocols and ether.

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

CME Group, a derivatives exchange that allows clients to trade various financial instruments, announced it is launching ether-bitcoin ratio futures so people can speculate and trade on the price correlation between the two digital currencies.

The derivatives exchange said it plans to roll out the option to invest in the new futures by the end of next month. The its plan is “pending regulatory review,” CME said in a statement.

“Historically, ether and bitcoin have been highly correlated; however, as the two assets have grown over time, market dynamics may affect the performance of one more than the other, creating relative value trading opportunities,” Giovanni Vicioso, CME Group’s global head of cryptocurrency products, said in the statement. “Investors will be able to capture ether and bitcoin exposure in a single trade.”

CME Group futures

CME also said the futures “will be cash-settled to the value of CME Group ether futures final settlement price, divided by the corresponding … bitcoin futures final settlement price.” Additionally, the exchange said the “new contract will follow the same listing cycle as CME Group bitcoin futures and ether futures contracts.”

Earlier this month, U.S.-based crypt0currency exchange Coinbase said it planned to offer bitcoin and ether futures contracts in an effort to attract institutional investors.

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Prime Trust may be taken over by the state of Nevada, and the situation seems alarming.