The global presence of cryptocurrency ATMs has surged by 17.8% over the past year, reaching 38,279 units, approaching the previous peak of 39,541 set in December 2022.
According to Coin ATM Radar’s latest data for 2024, there have been 2,564 new installations, marking a notable turnaround from the net loss of 2,861 machines in 2023.
From July 2023 to May 2024, installations consistently rose, with June alone seeing a rebound of 377 machines after a slight dip of 115 in May.
Bitcoin Depot leads the market with 7,543 ATMs, followed by Coinflip with 5,057, and Athena Bitcoin with 2,756 units.
Bitcoin remains the dominant cryptocurrency transacted, alongside Bitcoin Cash, Ether, and Litecoin.
The United States hosts over 82% of all cryptocurrency ATMs globally, with Canada following at 7.7%.
READ MORE: Jamaal Bowman Loses Democratic Primary Amid Major PAC Opposition
Australia has shown remarkable growth, expanding nearly 17-fold to 1,107 machines over the past two years, positioning itself to potentially surpass Europe’s 1,584 ATMs.
Other significant countries in the cryptocurrency ATM market include Spain (313), Poland (279), El Salvador (215), Germany (177), and Hong Kong (169), with Romania, Georgia, Switzerland, Austria, and New Zealand each hosting over 100 ATMs.
Despite a decline in installations from December 2022 to July 2023, hitting a low of 32,764, the trend has reversed since then.
BitAccess, a prominent ATM manufacturer, saw its installations drop initially but has since rebounded with a net increase of 1,208 machines.
Overall, 72 countries among the 193 United Nations-recognized nations now feature cryptocurrency ATMs, underscoring the growing global adoption of digital currencies in everyday transactions.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
The United States Securities and Exchange Commission (SEC) has filed a lawsuit against Consensys, the parent company of MetaMask, alleging violations related to unregistered brokerage and the sale of securities.
According to the complaint filed on June 28, Consensys has been operating as an unregistered broker and conducting unregistered securities offerings through its MetaMask Swaps service since 2020.
The SEC claims that Consensys has earned more than $250 million in fees from crypto asset transactions and staking services without complying with federal securities laws, thereby leaving investors without necessary protections.
The SEC seeks permanent injunctions, civil penalties, and other equitable relief against Consensys for these alleged violations.
In response to the lawsuit, Consensys has been vocal about its position, stating, “Since January 2023, Consensys has engaged in the unregistered offer and sale of securities in the form of crypto asset staking programs, and acted as an unregistered broker, through its MetaMask Staking service.
“By its conduct as an unregistered broker, Consensys has collected over $250 million in fees.”
The SEC further alleges that Consensys acted as an intermediary in unregistered transactions by facilitating investments in staking programs offered by Lido and Rocket Pool.
The complaint reads, “Consensys has offered and sold tens of thousands of securities for two issuers: Lido and Rocket Pool.
By this conduct, Consensys acts as an underwriter of those securities and participates in the key points of their distribution.”
Consensys had preemptively sued the SEC in April following a Wells notice, challenging the classification of Ether and related staking services as securities.
READ MORE: Cardano Developers Thwart DDoS Attack, Plan Node Upgrade to Enhance Security
The company criticized the SEC’s approach, accusing it of regulatory overreach and attempting to expand its jurisdiction through litigation.
The SEC’s complaint specifically targets staking programs offered by Lido and Rocket Pool, arguing that these programs constitute investment contracts and thus qualify as securities.
The SEC asserts that investors participating in these staking programs expect profits from the managerial efforts of Lido and Rocket Pool, despite neither entity filing a registration statement with the SEC.
Staking, a process where cryptocurrencies are locked to support blockchain networks, involves validators confirming transactions and earning rewards, akin to passive income.
The SEC’s scrutiny extends beyond Consensys; previously, Kraken settled with the SEC for $30 million over similar allegations, prompting the cessation of its staking services for U.S. clients.
Coinbase, another prominent entity, is also contesting the SEC’s stance on staking in ongoing legal proceedings.
In essence, the SEC’s actions underscore its regulatory stance on cryptocurrency-related activities, particularly staking services, emphasizing compliance with securities laws to protect investors’ interests.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
VanEck, one of the initial issuers of spot Bitcoin exchange-traded funds (ETFs) in the United States, has filed for a new Solana ETF.
Matthew Sigel, VanEck’s head of digital assets research, announced on X on June 27 that the firm has submitted an application for a Solana ETF with the U.S. Securities and Exchange Commission (SEC).
The new fund, named the VanEck Solana Trust, is designed to leverage Solana’s decentralized characteristics, high utility, and economic feasibility, according to Sigel.
He noted that this is the first filing for a Solana ETF in the United States.
In his post, Sigel explained why the company views SOL as a commodity, writing: “We believe the native token, SOL, functions similarly to other digital commodities such as Bitcoin and Ether.
“It is utilized to pay for transaction fees and computational services on the blockchain.
“Like ether on the Ethereum network, SOL can be traded on digital asset platforms or used in peer-to-peer transactions.”
READ MORE: DFX Labs Nears Full Operational License in Hong Kong Amid Regulatory Push for Global Crypto Startups
VanEck’s SEC filing indicates that the VanEck Solana Trust is expected to be listed on the Cboe BZX Exchange, pending SEC approval.
The investment goal of the VanEck Solana Trust is to mirror the performance of Solana’s cryptocurrency price, excluding the trust’s operational expenses.
The filing specifies that the trust will use the MarketVector Solana Benchmark Rate index for daily share valuation.
This index is based on prices from the top five SOL trading platforms, as identified by the CCData Centralized Exchange Benchmark review report.
VanEck’s Solana ETF filing follows the U.S. SEC’s approval of spot Ether ETFs on May 23, 2024.
This approval resolved longstanding debates about the classification of ETH, affirming it as a commodity rather than a security.
Subsequently, the SEC reportedly halted an investigation into whether Ether is a security on June 19.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
On June 21, several asset managers, including VanEck, BlackRock, Grayscale, and Invesco Galaxy Digital, submitted revised proposals for an Ethereum exchange-traded fund (ETF) to the United States Securities and Exchange Commission (SEC).
These asset managers released updated S-1 Registration Statements after the market closed on Friday, following Fidelity’s new S-1 form submission earlier in the day.
VanEck’s filing disclosed a 0.20% management fee for its Ethereum fund, aligning it with competitors like Franklin Templeton, which charges 0.19%.
BlackRock has not yet revealed the management fee for its iShares Ethereum Trust (ETHA). Bloomberg analyst Eric Balchunas noted that VanEck’s fee adds “a touch of pressure on BlackRock to stay under the 30bps at least.”
The recent filings follow several previous amendments submitted to the SEC in recent weeks.
The approval of the S-1 forms is one of the final steps before these funds can debut on Wall Street exchanges.
Balchunas predicts the ETFs will launch in the first week of July, just before the U.S. Independence Day holiday.
READ MORE: LayerZero’s New Token Launch Sparks Controversy Over Donation Requirement, Drops 17% in Value
In May, the SEC approved a rule change permitting major asset managers to list and trade eight spot Ether ETFs.
This approval included firms like VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise.
Fidelity’s updated filing revealed that FMR Capital, an affiliate, seeded $4.7 million at $38 per share.
Bitwise also updated its ETF proposal with the SEC on June 19, indicating a potential $100 million investment from Pantera Capital at the ETF’s trading launch.
Additionally, Hashdex is seeking regulatory approval for a new ETF combining spot Bitcoin and Ether. This comes after Hashdex recently abandoned its plans to launch an ETF solely dedicated to Ether.
These filings reflect a growing interest in Ethereum ETFs, highlighting the competitive landscape among asset managers and the anticipation of these funds’ impact on the market once approved.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Cryptocurrency has changed the world of online gambling, and it provides unique opportunities and advantages. Using platforms like dappgambl.com, players can explore various strategies to maximise their winnings. By leveraging the benefits of cryptocurrencies, you can enjoy secure, efficient, and potentially more profitable gambling experiences.
Explore Best Cryptocurrencies to Gamble With
When it comes to gambling with cryptocurrencies, your choice of digital coin can impact your gambling journey. Bitcoin remains the most widely accepted cryptocurrency in the gambling world, known for its stability and widespread use. Ethereum, with its smart contract capabilities, is another popular choice. Also, altcoins like Bitcoin Cash, Dogecoin, and Litecoin provide faster transaction times and lower fees which makes them attractive for gamblers.
Tether, a stablecoin, offers the advantage of minimising volatility, which can be beneficial for those looking to maintain a steady bankroll. Cardano and Ripple are also gaining traction in the gambling industry, as they have proven themselves with their security and efficiency. Each of these cryptocurrencies offers different benefits, so choosing the right one depends on your specific needs and preferences. The key is to select a coin that aligns with your gambling strategy and goals.
Choose Games Wisely
Selecting the right games can greatly influence your success in crypto gambling. Many online casinos offer free bonuses on various games, including slots with high Return to Player (RTP) rates, which can give your bankroll a significant boost. However, it’s essential to look beyond slots.
Table games and live casino options offer strategic depth and real-time interaction. Games like blackjack, roulette, and poker can provide more opportunities to win if you use effective strategies. Live dealer versions of these games offer possibilities to chat with the dealer and also other participants. Many players love this feature since it brings a ‘’physical’’ touch to online gambling.
Provably fair games use blockchain technology to ensure fairness and transparency, giving you confidence in the game’s integrity. They are particularly popular in the crypto-gambling community for their trustworthiness. Jackpot games, with their lucrative features, can dramatically increase your winnings, especially those with a progressive jackpot which grows with each bet until one player wins it all.
Check Security and Reputation
Look for casinos that have built a positive reputation and trust among players. One effective way to check a casino’s reliability is by researching the company behind the website and reading reviews from existing users. This can provide valuable insights into the casino’s practices and player satisfaction.
In terms of security, it’s important to verify that the platform uses robust measures like SSL encryption and two-factor authentication (2FA). These security features help protect your personal and financial information from potential threats. Also, reputable casinos often have transparent policies and reliable customer support, ensuring that any issues or concerns can be addressed promptly. Prioritising security and reputation will help you enjoy safer and more trustworthy gambling.
It is no secret that over the past decade or more, governments worldwide have struggled to stay abreast of the developments permeating the crypto industry. This is largely because the decentralized nature of crypto tech presents a number of significant challenges — such as those pertaining to anonymity, transparency, etc — resulting in several nations adopting a highly cautious approach to the industry.
For instance, in 2017, China — the second-largest economy in the world — banned initial coin offerings (ICO). This was followed by a blanket ban on digital asset trading, resulting in a significant market downturn. That said, as the market matured over the next couple of years, the eastern powerhouse, alongside several other nations, recognized the need to establish clear regulatory frameworks. Consequently, in 2020, China somewhat relaxed its anti-digital asset stance by introducing a pilot program for a state-backed digital currency (called the ‘digital yuan’).
Similarly, in 2018, the Reserve Bank of India (RBI) banned banks and other regulated entities from dealing with cryptocurrencies or providing services to businesses engaged in crypto-related activities. However, the Supreme Court overturned this ban in 2020, paving the way for a more open regulatory environment. In 2022, the Indian government introduced a flat 30% tax on income from crypto transactions, signaling a move towards legitimizing and regulating the industry.
How Web3 Companies Can Assist Regulators
While some countries have implemented traditional regulatory methods for overseeing their local crypto industries — such as anti-money laundering (AML) and know-your-customer (KYC) — there are others that have taken more innovative approaches. For example, a few years ago, the United Arab Emirates (UAE) established the Virtual Assets Regulatory Authority (VARA) to regulate all virtual assets, including cryptocurrencies. VARA issues licenses sparingly, thus creating a conducive environment for businesses while ensuring consumer protection and preventing financial crimes.
Similarly, the Monetary Authority of Singapore (MAS) implemented the Payment Services Act back in 2019, providing investors with a regulatory framework for digital payment token services, including crypto exchanges, wallets, and token issuers. The act requires these entities to obtain a license and comply with a host of curated AML/CFT (anti-money laundering and countering the financing of terrorism) requirements, as well as other measures to protect consumers.
In this context, Web3 companies, particularly those with significant experience in traditional finance (TradFi), can play a crucial role in assisting governments in developing comprehensive and effective regulations for the crypto industry. One such company is the MultiBank Group, a well-established financial derivatives institution possessing over 14 licenses worldwide—including those issued by ASIC, AUSTRAC, and BAFIN—while boasting an average daily trading volume of $12.1 billion.
MultiBank Group has recently expanded into the crypto sphere with the launch of MultiBank.io, a pioneering Crypto Spot and Multi-asset Derivatives Exchange. Leveraging its extensive experience in navigating complex regulatory landscapes, MultiBank Group is uniquely positioned to provide valuable insights and collaborate with regulators to create a secure and transparent trading environment for digital assets.
MultiBank.io offers a comprehensive financial ecosystem that seamlessly unites traditional derivatives with crypto offerings. It provides access to a wide range of products, including forex, shares, metals, indices, commodities, and crypto CFDs, all while adhering to stringent regulatory standards and ensuring transparency for its clients.
The Future Will Be Regulated
As the crypto industry continues to gain mainstream adoption, it becomes increasingly evident that a well-regulated environment is essential for its long-term success. Regulations not only protect consumers and prevent financial crimes but also provide businesses with a clear framework to operate within, fostering trust and confidence in the industry.
Web3 companies that prioritize regulatory compliance and transparency can serve as valuable partners for governments in shaping the future of crypto regulations. By leveraging their expertise and experience, these companies can help bridge the gap between traditional finance and the emerging world of digital assets, ensuring that regulations strike the right balance between innovation and consumer protection.
Thus, as the industry evolves, it will be interesting to witness the collaboration between regulators and Web3 companies in creating a sustainable and thriving crypto ecosystem. Companies like MultiBank Group, with their commitment to regulatory compliance and user-centric solutions, are well-positioned to contribute to this process, ultimately shaping a future where crypto is accessible, secure, and widely adopted.
Investment firm Kerrisdale Capital has launched a critical campaign against Bitcoin miners, labeling the industry as “snake oil salesmen.”
Their latest report targets Riot Platforms, claiming it is “headed for a mine collapse.”
Kerrisdale’s CEO, Sahm Adrangi, discussed their position with Cointelegraph.
“When you don’t have a viable business model — and we see this in the public markets all the time — if you’ve got a business that you know is structurally unprofitable, these companies dilute,” said Adrangi. “They issue shares, they take those shares to invest in the business. But there are no returns.”
According to Kerrisdale, Riot issued $41 million in shares in the first four months of 2024, diluting stock by 18%.
Adrangi argued, “These are not viable business models. The [United States mining] businesses are structurally screwed — the industry is one of the worst I’ve ever seen.” Kerrisdale has taken a short position on Riot.
In response, Riot refuted these claims, stating, “We disagree with the characterization of the Bitcoin mining industry and of Riot, and the equally unsound conclusions reached in the Kerrisdale Capital report.
READ MORE: OKX Exchange Investigates Multi-Million Dollar Hack Involving SIM Swap Attack
“We believe these errors will be demonstrated through the execution of our ambitious 2024 growth plans and resulting financial performance.”
Despite efforts to contact other U.S. Bitcoin mining firms, none were available to comment. Cointelegraph also spoke with William Foxley of The Mining Pod, who offered a contrasting view.
“Bitcoin mining in the U.S. is incredibly bullish, especially with another Trump presidency,” said Foxley, highlighting potential political support and state-level protections for miners.
Kerrisdale criticized Texas’s energy policy towards Bitcoin mining, citing recent decisions against tax reductions for Riot’s projects and rising energy costs affecting residents.
Adrangi commented, “This whole idea that these Bitcoin miners are good for the grid. It’s such a tortured thought process, and I can’t believe people actually buy into it.”
Kerrisdale has also contacted state legislators, urging them to deny future abatements for Riot.
They referenced safety concerns at Riot’s Rockdale facility and the use of non-approved cooling fluids. These efforts led to an initial drop in Riot’s stock price, though it has since stabilized.
Despite Kerrisdale’s aggressive stance, Riot has garnered support from former President Donald Trump, who advocated for Bitcoin mining in the U.S. as a defense against a central bank digital currency (CBDC). Adrangi, however, remains skeptical of Trump’s influence on the industry’s viability.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Institutional staking firm and validator P2P.org has partnered with the OKX exchange to launch crypto staking services for institutional clients.
This collaboration aims to provide institutional-grade staking services for assets such as Polkadot, Kusama (KSM), Celestia (TIA), and Cardano.
P2P representatives told Cointelegraph, “Staking with OKX enables eligible users to enjoy an APR without the hassle of setting up new nodes,” highlighting the common barriers institutions face in the crypto staking market.
They pointed out that the steep learning curve, significant time investment, and high costs of running a node are major obstacles preventing businesses from benefiting from the yields offered by digital assets.
In April, P2P.org achieved a total value locked (TVL) of $7.5 billion and launched its “staking-as-a-business” (SaaB) model, designed to lower entry barriers for institutional clients.
Alex Esin, CEO of P2P.org, told Cointelegraph, “Our objective is to assist in the establishment or amplification of staked assets within institutional products, ensuring that staking contributes a minimum of 10% to total revenue, ideally reaching 20%.”
Models like P2P’s SaaB, crypto exchange-traded products, and exchange-traded funds (ETFs) are increasingly popular among institutional investors and traditional financial institutions.
READ MORE: Pepe Surges 17.85% with Strong Bullish Indicators Pointing to a Potential 50% Rally by June’s End
These options enable institutional players to gain exposure to the crypto markets without needing to master the technical complexities of digital assets.
According to the recent CoinShares “Digital Asset Fund Flows” report, inflows into crypto ETFs and products reached $2 billion in May 2024, bringing the year-to-date total to over $15 billion in capital invested.
Institutional interest in crypto surged after the approval of a spot Bitcoin ETF in the United States, with major asset managers like BlackRock offering BTC exposure to their clients.
This renewed interest in digital asset investment has extended to other sectors.
Pension fund managers, for example, are diversifying their portfolios by including Bitcoin.
A recent Securities and Exchange Commission filing revealed that the State of Wisconsin Investment Board (SWIB), managing Wisconsin’s state pension system, held approximately 2.4 million shares of BlackRock’s iShares Bitcoin Trust (IBIT) and over 1 million shares of Grayscale’s Bitcoin Trust (GBTC), amounting to a $164 million investment in Bitcoin.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Over the past 13 years, the cryptocurrency industry has witnessed 785 reported hacks and exploits, leading to nearly $19 billion in stolen digital assets since the first known crypto hack on June 19, 2011, according to a Crystal Intelligence report shared with Cointelegraph.
The largest single crypto theft remains the 2019 Plus Token fraud, where attackers netted $2.9 billion worth of Bitcoin and Ether.
More recently, in February 2024, the $290 million security breach on PlayDapp was the largest single crypto heist over the past two years.
Additionally, the JPEX investment scam in Hong Kong resulted in $194.3 million of stolen crypto, marking it as the largest single crypto fraud scheme during the same period.
Crypto hacks and exploits continue to hinder mainstream trust and adoption.
In 2024, crypto hacks are on track to surpass those in 2023, with the first quarter of 2024 seeing $542.7 million worth of stolen funds—a 42% increase compared to the same period in 2023.
READ MORE: Australia Bans Crypto and Credit Cards for Online Gambling to Protect Citizens from Financial Risks
While 2023 had the most reported crypto-related hacks, 2022 saw the biggest loss in value.
According to Crystal Intelligence, 286 exploits in 2022 led to over $2.3 billion in stolen assets.
However, the total value of stolen digital assets in 2022 was $4.2 billion, nearly double that of 2023.
The number of incidents in 2022 was 199, 30% less than the 286 hacks reported in 2023.
“Even with improved and enhanced monitoring and reporting mechanisms, illegal activity on the blockchain has continued to grow in 2023 and 2024,” the Crystal Intelligence report states.
In 2023, there were 68 security breaches, with attackers stealing over $1 billion worth of digital assets.
In contrast, decentralized finance (DeFi) hacks resulted in $835 million of stolen cryptocurrency in 2023, despite over 112 reported DeFi hacks, indicating that these incidents are smaller but more frequent compared to larger security breaches.
The largest DeFi hack in the past two years was the Euler Finance hack, resulting in $197 million worth of stolen Ether tokens.
The ten largest DeFi hacks in 2023 and 2024 accounted for nearly $579 million in stolen assets.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Zilliqa has recently unveiled its white paper and roadmap for the much-anticipated 2.0 upgrade, set to launch on the mainnet in late 2024.
This upgrade is poised to enhance the blockchain’s functionality by increasing its speed, efficiency, and interoperability with other blockchain systems.
Central to Zilliqa 2.0 is the innovative sharding architecture, known as x-shards.
This allows for the creation of tailored blockchain applications to meet specific business and developer needs, fostering a flexible development environment on the Zilliqa platform.
Sharding is a technique that boosts the scalability and performance of blockchain networks by distributing the load across multiple smaller chains, enabling them to process more transactions without a drop in speed.
The upgrade introduces a significant shift from the proof-of-work (PoW) consensus mechanism to a more sustainable proof-of-stake (PoS) system.
This move not only reduces the network’s environmental footprint but also enhances transaction finality and security significantly.
Another key feature is the adjustable block times within the network, with the root mainnet shard boasting an impressive average block time of just two seconds.
Moreover, Zilliqa 2.0 includes a cross-chain communication hub, facilitating seamless interactions between x-shards, the Zilliqa mainnet, and other Ethereum Virtual Machine (EVM)-compatible blockchains.
READ MORE: CryptoUK Releases Comprehensive Guide to Navigate U.K.’s Crypto Travel Rule Compliance
Zilliqa’s compatibility with the EVM also extends to supporting smart contracts written in popular languages such as Solidity, and integration with widely-used wallets like MetaMask.
The network maintains support for its native programming language, Scilla, allowing both Scilla and Solidity contracts to operate cohesively.
Additional features aimed at enhancing user experience include EVM-compatible account abstraction, which simplifies smart accounts and token conversions for gas fees.
The network’s revised tokenomics model, aligned with the shift to PoS, promises attractive, sustainable staking rewards and aims to curb inflation.
This roadmap release comes after Zilliqa faced several operational issues that disrupted block production on its mainnet.
Despite these challenges, the network has successfully restored full functionality.
Notably, in December 2023, a disruption caused daily blockchain transactions to drop by approximately 50%, from 61,000 to 30,906.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.