Daily Crypto News

1. South Korea to block access to 16 unregistered crypto companies — The Korea Financial Intelligence Unit (KoFIU) has requested investigative authorities to block 16 unregistered foreign-based Virtual Asset Service Providers (VASPs) that reportedly targeted domestic consumers by offering services in Korean. According to a press release, these unregistered VASPs are KuCoin, MEXC, Phemex, XT.com, Bitrue, ZB.com, Bitglobal, CoinW, CoinEX, AAX, ZoomEX, Poloniex, BTCEX, BTCC, DigiFinex, and Pionex.
2. Crypto Lender Hodlnaut Faces Singapore Police ‘Actions’ and Staggering Job Cuts — Singaporean crypto lender Hodlnaut disclosed massive layoffs and pending “police proceedings” in a Friday blog post that underscored the dire financial and legal straits faced by the latest firm to freeze crypto withdrawals.
3. Bitcoin mining difficulty rises 0.63% in latest adjustment — Bitcoin mining difficulty rose by 0.63% on Thursday, marking the second increase in a row in latest adjustments, according to data from BTC.com.
4. Bitcoin, Ether fall in broad crypto pull back; memecoins reverse gains — Bitcoin and Ether continued their weekly slide, while all other top 10 cryptocurrencies by market capitalization fell in Friday morning trading in Asia. The world’s number one cryptocurrency fell below US$23,000 for the first time in over a week. Investors remain tentative about macroeconomic trends — inflation and interest rates in the U.S. and a slowing economy in China.
5. Ukraine spends US$54 mln in crypto donations towards war supplies — Ukraine spent the highest amount — US$11.8 million — on unmanned aerial vehicles (UAVs), Mykhailo Fedorov, Vice Prime Minister of Ukraine and Minister of Digital Transformation of Ukraine, said in a post on his verified Twitter handle. The country spent US$6.9 million on armored vests and US$5.7 million on computer hardware and software. The donations were facilitated by Aid For Ukraine, an initiative by Everstake, FTX, and the Ministry of Digital Transformation of Ukraine.
6. ETHPoW token price drops to all-time-low on Thursday — ETHPoW, the token that will run on a potential Ethereum PoW fork, fell to an all-time low of US$50.36 on Thursday, down 64% from its Aug. 2 peak, according to CoinMarketCap.
7. CME, world’s biggest derivatives exchange, to offer Ether options in September — CME Group — the world’s biggest operator of financial derivative markets, including the Chicago Mercantile Exchange — on Wednesday said it will offer options on Ether futures starting Sept. 12, pending regulatory review.
8. The founder of a crypto powerhouse says Meta and Microsoft are ‘digital dictatorships’ and wants to crush their dominance in the online world — The founder of a major crypto firm described the likes of Meta and Microsoft as “digital dictatorships.” Yat Siu of Animoca Brands told Bloomberg that his and Web3’s goal is to strip power from Big Tech. That’s a core part of Web3: to decentralize technology and return power of ownership to the user.
9. ‘Consumer Business Is Dead’ for Crypto Lender Celsius, Bankruptcy Expert Says — Retail customers of bankrupt crypto lender Celsius Network are likely to recover just a portion of their funds at best and “the consumer business is dead” for Celsius, Thomas Braziel, founder of investment firm 507 Capital, said.
10. EU seeks to limit banks’ crypto exposure — European Union (EU) banks with exposure to highly volatile cryptocurrencies like Bitcoin should face higher capital requirements, according to a proposed amendment to a European financial services law.

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