6 September

Binance is to convert its users’ holdings in three stablecoins – USDC, USDP and TUSD – into its own stablecoin BUSD. At 03:00 UTC on Sept. 29 users’ balances in the three stablecoins will be automatically converted into BUSD, though users can convert them manually before then if they wish to do so.

The world’s largest crypto exchange announced Monday it is taking this action to enhance liquidity and capital-efficiency for users.

With a market cap of $19.5 billion, BUSD is the third largest stablecoin. TUSD and USDP rank fifth and sixth with market caps of $1 billion and $945 million respectively. The stablecoin market is dominated by Tether’s USDT with a market share of around 44%, though this may be about to change with large amounts of USDC, USDP and TUSD being consolidated into BUSD.”


“Most traders looking to time the next parabolic bull run are waiting for the world’s most powerful central bank to declare victory over inflation and abandon liquidity tightening.

While the Fed decisions are undoubtedly important, indicators unrelated to macroeconomic factors and unique to the crypto market, like coin dormancy metrics, could be equally valuable in timing the next bull run.

Dormant supply peaks are springboards for upwards price action. There are more unspent one-year plus old coins than ever before.

If two-thirds of bitcoin is off the market (not for sale) for an extremely long period of time, the price is driven up when more buyers enter the market bidding for a finite supply—a scenario that has played out in bitcoin twice before.”

See Also: Bitcoin in Accumulation Phase Despite Macro Headwinds, On-Chain Data Indicate
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“Truss will be formally appointed on Tuesday after Johnson officially announces his resignation to Queen Elizabeth II.

In 2020, the year that Brexit was finalized, Truss – who was trade minister at the time – said she believed the country could ‘create great opportunities in areas such as blockchain.’

We should welcome cryptocurrencies in a way that doesn’t constrain their potential.

Despite these two statements, Truss has not said much about crypto or blockchain, and has made no concrete policy proposals on these issues. It’s also unclear if Truss will support or continue Sunak’s plans to turn the U.K. into a crypto hub.”


See Also: DeFi Speculators Awaiting Arbitrum Token Flock to GMX


PoolinWallet, the wallet service of one of the world’s biggest bitcoin mining pools, is suspending all withdrawals as it tries to preserve assets and stabilize liquidity, the firm said on Monday. On Sunday, the firm’s CEO and founder Kevin Pan said that Poolin was facing liquidity issues but assured users that assets were safe.

A “feasible” solution will be provided within a week, the post said, echoing Pan’s statement that the company would soon come up with a plan to fix the issues. That plan might include debt, according to Pan’s post.”


“Named IS-NEWS #01, the digital token is said to be an image bearing the Islamic State’s emblem with text praising Afghanistan-based Islamic militants for attacking a Taliban position. The user created another two other NFTs on Aug. 26: one showing an Islamic State fighter teaching students to make explosives and the other condemning smoking cigarettes.

The analysts said this could be a sign that terrorist groups may be using the emerging technology to spread their message and test new funding strategies.

The digital token was reportedly listed on NFT marketplace OpenSea, but the company quickly took the listing down and closed the posters account.”