Bybit Receives Crypto License in Major Region | Key Points | Sept. 17, 2024

GM. Welcome back to BitPinas Key Points: easily digestible news in concise formats for easy reading. In today’s daily recap: Bybit has also received a crypto license in a major region!

Here are the latest crypto news stories in the last 24 hours.

Market Analysis and Updates 📈

Here are the crypto highlights of the day:

Crypto Price Update

Bitcoin (BTC): $59,269.96, up 0.9% over the last 24 hours.
Ethereum (ETH): $2,321.26, up 0.9% over the last 24 hours.
Solana (SOL): $132.99, up 0.8% vs the previous day.

Trending Coins Update

UXLINK: $0.5194, up 33.6% vs the previous day.
tomiNet: $0.0517, up 6.2% over the last 24 hours.
Toncoin: $5.45, down 1.4% vs the previous day.

For the daily price update, check out our post on Facebook.

Feature News: Bybit Secures Provisional Crypto License from Dubai’s VARA, Eyes Full Operational Approval

Photo for the Article - Bybit Receives Crypto License in Major Region | Key Points | Sept. 17, 2024

Bybit has secured a provisional crypto license from Dubai’s Virtual Asset Regulatory Authority (VARA), allowing it to serve retail and institutional investors.

Why is this important: Bybit wants to expand globally and the org wants to do it in the most compliant way possible. What better license to have than the one in Dubai, which has crypto-friendly regulations.

Zoom out: More crypto companies are moving to Dubai as it solidifies its status as a global crypto hub with forward-thinking policies. Bybit joins a growing list of firms, including Binance, capitalizing on Dubai’s favorable crypto landscape, Cointelegraph reported.

The number: Bybit is the second-largest crypto exchange globally by derivatives volume, processing over $15.8 billion in derivatives on Sept. 16.

What’s next: Bybit is working towards securing a full operational license in Dubai, which would solidify its presence and allow for expanded services in the region.

Philippine Crypto News 🇵🇭

SparkChain Network to launch Node Key NFT sale on September 20.
SparkChain Network and JRNY Club partnered provide community members with membership benefits and blockchain innovation.
BitPinas Article: The Philippines ranked 8th in the Global Crypto Adoption Index 2024 by Chainalysis.

Noteworthy 🌟

Key updates and announcements from around the crypto and blockchain world:

James Fickel, a prominent crypto millionaire, suffered significant losses, with his $172 million bet on Ethereum turning sour, resulting in a $43.7 million loss and a $132 million debt.
A recent survey revealed that stablecoins are being widely adopted in Nigeria as a form of “crypto dollarization.”
Circle predicts that stablecoins will become a mainstream global payment method.

Educational Corner 🎓

Airdrop! Check out TONs of Dungeons within the Telegram Mini-Apps Ecosystem, accompanied by a $CHEF airdrop.
- It is a minesweeper-style game where players tap blocks on a 5×5 grid to earn gold, avoiding traps that end the game, while also participating in a clicker side game to farm more gold.

Regulation Watch 📜

Stay informed about the latest regulatory updates and what they mean for you:

Seven Democratic US Senators urged ten major Bitcoin ATM operators to address fraud targeting elderly Americans.
Sam Bankman-Fried appealed his fraud conviction, requesting a new trial and alleging bias from Judge Lewis Kaplan.l
Singapore launched an investigation into the unlicensed sale of Worldcoin accounts.

Community Spotlight 🔦

Meet Allen San Miguel: He is a trader and a KOL in the web3 industry in the country.

San Miguel is the Country Manager for the Philippines of the international crypto exchange OKX Wallet.
Earlier this month, he along with other web3 KOLs, talked during the first-ever Bicol Traders Meet.
Recently, he discussed the OKX’s plans in the country.

More Web3 and AI News 💡

Discover the latest in web3 and AI innovation.

OneDegree launched MAMORI, an AI-powered Web3 risk intelligence platform designed to enhance security and risk management in the decentralized ecosystem.
Colle AI expanded its web3 platform by adding a video NFT creation feature to its AI-driven NFT generator,
MEET48aims to transform web3 entertainment by using AI and fan-created content, allowing fans to create virtual idol performances with tools like AIShowBox.

Web3 Gaming Section 🎮

The future of web3 is gaming, and here are the latest news.

Draper Goren Blockchain Studio invested in Turf Gaming, a prediction-focused eSports platform.
W3GG launched the “Quest to Airdrop” campaign to celebrate its upcoming Token Generation Event (TGE).
Netmarble Townlaunched in The Sandbox, offering players a virtual experience based on Netmarble’s games with missions, collectible NFTs, and 75,000 SAND tokens in rewards.