Daily Crypto News

1. Singapore-based Bitcoin miner scales back Kazakhstan project — Concerns over power supply and cost uncertainties have prompted Singapore-based Bitcoin miner SAI.TECH (SAI) to terminate the remainder of its expansion plans in Kazakhstan, the Nasdaq-listed company said in a statement.
2. Bitcoin Is Rebounding. Thank Mom and Pop Investors— Smaller, U.S.-based retail investors have helped drive a recent surge in Bitcoin prices, with the crypto token seeing its best month all year.
3. New US crypto bill seeks to make CFTC top Bitcoin, Ethereum watchdog — The U.S. Senate Agriculture Committee introduced a bill on Wednesday to put the Commodity Futures Trading Commission (CFTC) at the helm of regulating all cryptocurrencies classified as commodities.
4. Coinbase Asks US Supreme Court to Halt Lawsuits Connected to Scams and Dogecoin — Federal trial judges in both cases had previously rejected Coinbase’s move to send the disputes to arbitration, which the exchange said was required under its user agreements. Coinbase is effectively appealing these initial decisions.
5. Crypto.com, K-pop agency Fantagio enter joint NFT venture — South Korean entertainment agency Fantagio announced Wednesday a memorandum of understanding (MOU) with digital asset platform Crypto.com to pursue non-fungible token (NFT) projects, according to local reports.
6. New bill would reclassify some crypto as a commodity —In today’s crypto corner, Brian Cheung breaks down the latest moves in crypto following a Solana digital wallet hack, and Jennifer Schonberger breaks down a new bill that proposes to regulate bitcoin and ethereum as commodities
7. Solana blames Slope for exploit — The massive Solana wallet exploit that began on Wednesday Hong Kong time is believed to be related to the Slope mobile wallet app, while there is no evidence to show the blockchain’s code was compromised, Solana said.
8. Most in Ethereum community will use L2 scalers: Vitalik Buterin — The Ethereum layer-1 chain should eventually “stop changing completely,” to provide stability on the base layer, Ethereum cofounder Vitalik Buterin said in a conference in Seoul on Thursday.
9. Bitcoin, Ethereum little changed; Solana still lower after network hack — Bitcoin was trending lower to little-changed in early Asia trading on Thursday with most major cryptocurrencies losing ground. Solana remained lower after reports of a hack on its network. Bitcoin was priced at US$22,848 as of 8 a.m. in Hong Kong, off 0.6% in the last 24 hours. Ethereum dipped 0.8% to US$1,615, according to data from CoinMarketCap.
10. New crypto oversight legislation would give authority to CFTC — After 13 years, at least three crashes, dozens of scams and Ponzi schemes and hundreds of billions of dollars made and evaporated, cryptocurrencies finally have the full attention of Congress, whose lawmakers and lobbyists have papered Capitol Hill with proposals on how to regulate the industry.

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