Bitcoin News and Finance: What You Need to Know

BNB Chain, the Binance-backed decentralized blockchain network, has announced the launch of Opbnb, its expansion layer built using the Optimism OP stack. The new network allows users to enjoy low-fee transactions in a high-throughput, high-speed transactional layer optimized for interactive applications such as games, with the BNB Chain chain serving as a settlement layer. Optimism-Based Opbnb L2 Launches Mainnet Opbnb, BNB Chain’s layer-two (L2) network, has recently announced the launch of its mainnet, focusing on bringing a scalable tool to developers of BNB Chain. The scalability layer, built on the Optimism OP stack, enhances two aspects of applications on the BNB Chain: finality and costs. The new L2 has short block times, allowing developers to move assets and value quickly to and from the network. Also, Opbnb theoretically can manage more than 4,000 transactions per second, with transaction fees as low as $0.005. This means it is designed with applications that handle...

Following the U.S. Securities and Exchange Commission’s (SEC) charges against Stoner Cats, the NFT project backed by Mila Kunis, the digital collectibles have witnessed a staggering surge in sales, soaring by a significant 2,433% within a mere 24-hour span. On September 14, the Stoner Cats’ floor value experienced a notable uptick, surging to 0.084 ether. SEC Crackdown Boosts Stoner Cats’ Secondary Sales In the wake of the SEC’s actions against the Stoner Cats NFT project, there was a significant boost in both floor value and trade volume for the digital collection. According to data sourced from opensea.io and nftpricefloor.com , the floor value reached a high of 0.084 ETH , which translates to approximately $136. Prior to the SEC’s intervention, the Stoner Cats’ floor value was hovering around 0.0189 ether, equivalent to $30.73 based on the prevailing ETH exchange rates. Stoner Cats is an NFT collection with a cannabis theme, linked to an animated series depicting feline char...

The CEO of the cryptocurrency exchange Coinbase has encouraged decentralized finance (defi) protocols to fight regulators in court if they face regulatory crackdowns. He stressed that the Commodity Futures Trading Commission (CFTC) “should not be creating enforcement actions against decentralized (defi) protocols,” emphasizing that they are not financial service businesses. “The only thing this is accomplishing is to push an important industry offshore,” Armstrong cautioned. Brian Armstrong Wants Defi Protocols to Fight Regulators in Court The CEO of cryptocurrency exchange Coinbase (Nasdaq: COIN), Brian Armstrong, has urged decentralized finance (defi) protocols to challenge U.S. regulators in court after the Commodity Futures Trading Commission (CFTC) cracked down on some defi platforms. The executive wrote on social media platform X on Wednesday: “The CFTC should not be creating enforcement actions against decentralized (defi) protocols. These are not financial service business...

Remilia Corporation, a digital art and non-fungible token (NFT)-related business, has filed a lawsuit against three independent contractors whom it accuses of siphoning $1 million from the company. Founder Krishna Okhandiar denied claims the three had at any point “sought equity shares in Remilia while negotiating their contracts.” Trio ‘Failed to Perform at an Adequate Level’ Remilia Corporation, a digital art and non-fungible token (NFT)-related business, has filed a lawsuit against three individuals accused of illegally taking control of the company’s revenues. In the lawsuit filed with the U.S. District Court of Nevada, Remilia and founder Krishna Okhandiar allege that John Duff, Henry Smith, and Maxwell Roux acted illegally when they allegedly took control of $1 million belonging to the business. Good morning. A developer who worked on Bonkler took steps that allowed him to divert ~$1MM USD in Remilia’s generated fees. The Bonkler reserves, main contract and NFTs are safe; ...

Yellow Card, the Africa-focused crypto exchange, recently said it had joined forces with Moonpay in an arrangement which is expected to help “enhance the crypto purchasing experience for Nigerians by leveraging local bank transfers.” According to Uzoma James, Yellow Card’s West Africa regional manager, the partnership is expected to “make crypto trading easy, intuitive, and available to all.” Transforming Nigeria’s Crypto Accessibility Landscape The Africa-focused crypto exchange Yellow Card recently said it had established a working arrangement with Moonpay whose objective is to “streamline and enhance the crypto purchasing experience for Nigerians by leveraging local bank transfers.” Yellow Card and Moonpay believe the partnership will help transform Nigeria’s cryptocurrency accessibility landscape which in turn would make it more user-friendly. After the Central Bank of Nigeria (CBN) directed financial institutions to exclude crypto entities from the banking ecosystem, Nigerian...

One of the founders of the crypto pyramid Onecoin, British and Swedish national Karl Greenwood, has been sentenced to 20 years in prison in the United States. Greenwood was the architect of the scam’s multi-level marketing structure and served as Onecoin’s global master distributor. Cryptoqueen Ruja Ignatova’s Business Partner Gets Lengthy Sentence for Onecoin Role Karl Sebastian Greenwood, one of the key figures in crypto history’s most notorious Ponzi scheme, Onecoin, is going to spend two decades in prison. The sentence, imposed by U.S. District Judge Edgardo Ramos, was announced on Tuesday by United States Attorney for the Southern District of New York, Damian Williams. Greenwood co-founded Onecoin, which was based in Sofia, Bulgaria and started operations in 2014, together with Ruja Ignatova, a Bulgarian-born German national dubbed the “missing Cryptoqueen” as she is still at large. Onecoin marketed and sold a fake cryptocurrency by the same name through a global multi-level m...