Are you curious about the latest in the crypto world? Here’s a rundown of today’s key trends and events affecting Bitcoin prices, blockchain technology, DeFi, NFTs, Web3, and crypto regulations.
Binance Issues Important Upgrade Alert to Crypto Users
Binance, the world's leading cryptocurrency exchange, has issued an important notice regarding an upcoming system upgrade for its users.
In a recent announcement, Binance confirmed that it will be conducting a scheduled upgrade of its account services on September 25 at 6:30 a.m. (UTC). This maintenance is expected to last approximately three hours and aims to enhance system performance and stability.
During the upgrade, users may experience intermittent disruptions across all services, including account login, registration, trading (on Spot, Margin, Futures, P2P, etc.), VIP account services, and other account-related functionalities. According to Binance, these interruptions will be brief, with users likely regaining access to the platform within a few minutes.
Binance reassured users that their data and assets will remain secure throughout the process, and the upgrade will not affect trading via API.
Sygnum Secures Liechtenstein Crypto License, Eyes EU Expansion under MiCA
Sygnum, a digital assets banking group based in Zurich and Singapore, has announced that it has secured a crypto license in Liechtenstein. This license was granted to its local subsidiary, enabling it to offer regulated digital asset services such as brokerage, custody, and banking.
These services will operate under Liechtenstein's Token and Trusted Technology Service Providers Act.
According to Martin Burgherr, Sygnum's Chief Clients Officer, this license strategically positions the company to apply for a Crypto-Asset Service Provider (CASP) license under the European Union’s Markets in Crypto-Assets Regulation (MiCA) once Liechtenstein adopts the regulation. The adoption of MiCA in Liechtenstein is expected in the first quarter of 2025. The CASP license would allow Sygnum to expand its services across the European Union.
Sygnum joins other companies, such as Coinbase and Circle, in preparing to expand into Europe as MiCA regulations come into effect. MiCA is a comprehensive regulatory framework for the cryptocurrency sector, allowing licensed companies in one member state to operate across all 27 EU countries and in European Economic Area nations like Liechtenstein. However, Switzerland, Sygnum's home base, is not part of this group.
21. co adds Chainlink Proof of Reserve for 21BTC transparency
21. co has implemented Chainlink’s Proof of Reserve on the Solana and Ethereum mainnets to increase transparency for its Wrapped Bitcoin product (21BTC). This integration automates real-time reserve verification and ensures the secure minting of 21BTC.
Johann Eid, Chief Business Officer at Chainlink Labs, highlighted the significance of the partnership, stating, "21Shares and Chainlink have been instrumental in promoting the adoption of a more secure blockchain infrastructure. We are excited to see 21Shares integrate Chainlink Proof of Reserve to support 21BTC."
Eid further emphasized that Proof of Reserve plays a crucial role in enabling a secure minting process, a vital step toward establishing a reliable framework for tokenizing potentially trillions of dollars in assets.
21BTC, initially launched on Solana in May 2024 and extended to Ethereum in September 2024, is a native token fully backed 1:1 by Bitcoin reserves held in cold storage and institutional custody. Chainlink Proof of Reserve provides on-chain updates regarding the status of these Bitcoin reserves.
Eliezer Ndinga, Head of Strategy and Business Development for Digital Assets at 21. co, remarked, "Chainlink’s industry-standard Proof of Reserve is essential for ensuring transparency in the reserves backing 21BTC. It strengthens the minting process and supports the token's growing adoption across both the Solana and Ethereum ecosystems."
Bitfarms Reaches Settlement with Riot, Restructures Board of Directors
After months of disputes, Bitcoin miners Bitfarms and Riot Platforms have reached a settlement, resulting in changes to Bitfarms' Board of Directors. The resolution, announced on September 23, included the resignation of Andrés Finkielsztain from Bitfarms' board.
Finkielsztain’s departure has opened the door for the appointment of Amy Freedman, who will serve on both the Governance and Nominating Committee and the Compensation Committee. This appointment aligns with Bitfarms' strategy to bring fresh perspectives and expertise to its leadership team.
The settlement also includes an agreement that prevents Riot from taking any further hostile actions against Bitfarms until the company's annual meeting in 2026. As part of this arrangement, Riot, a major shareholder in Bitfarms, has agreed not to increase its ownership beyond a specified limit or propose additional changes to the board during this period.
Commenting on the agreement, Ben Gagnon, Chief Executive Officer of Bitfarms, stated: "We are pleased to have reached this agreement with Riot and are now focused on fully executing our growth strategy. Our aim is to expand beyond Bitcoin mining into synergistic new areas such as energy generation, energy trading, heat recycling, and high-value revenue streams like HPC/AI."
Analyst Predicts 8,500% Rally For Cardano To Reach $31 As Indicators Turn Bullish.
Since March, Cardano (ADA) has faced several periods of notable price declines. However, Dan Gambardello, a well-known crypto analyst from the Crypto Capital Venture YouTube channel, predicts a potential bullish reversal by analyzing weekly and daily charts.
In a recent video, Gambardello suggested that ADA is on the verge of a significant breakout, with the potential to reach approximately $31, a staggering 8,500% increase from its current price. He noted that the market has undergone "180 days of downside" since March, setting the stage for a possible upward surge.
The analyst pointed to key technical indicators, particularly the Moving Average Convergence Divergence (MACD) on the weekly chart, showing signs of a bullish crossover. "The macro momentum of Cardano is signaling its readiness to bottom," he explained, highlighting the upward shift in the MACD histogram since May.
Despite the optimistic outlook, Gambardello cautioned that ADA has not yet exceeded the 20-day and 50-day moving averages. He warned that while these key levels are being tested, the breakout could still fail, urging investors to remain patient until further price movements confirm a definitive breakout.
While some view Gambardello’s predictions as overly optimistic, another crypto analyst, Sssebi, offered a more conservative forecast. He predicts a 20x to 30x rally for Cardano over the next year, noting that ADA's current positioning resembles its state during the last market cycle, suggesting a significant rally may be imminent. Sssebi forecasts a minimum price of $5 for Cardano by 2025, with a potential peak of $10 during the height of the bull market.
Comments