By Shikha Singh
Thailand’s Crypto Market Shifts from Retail to Institutional Investment.
Thailand’s crypto market is shifting from retail to institutional investment, says Binance Thailand CEO Nirun Fuwattananukul.
The Thai SEC has recently changed regulations to mature the industry and allow institutional funds to invest in crypto products like U.S. spot ETFs.
Nirun emphasizes this shift as vital for Thailand’s fintech goals, creating a balanced ecosystem for traditional finance and digital assets.
While institutional interest grows, retail participation remains robust, with Bitkub continuing to see significant daily trading volume.
South Korea to Ramp Up Oversight Of Cross-Border Crypto Transactions: Report.
Finance Minister Choi Sang-Mok announced at a G20 meeting that South Korea will strengthen oversight of cross-border crypto transactions to combat tax evasion and foreign exchange crimes.
The new regulations will require businesses handling cross-border crypto transfers to pre-register and report transaction details monthly to the Bank of Korea.
Choi emphasized that these transactions have become a “blind spot” for tax and customs enforcement, with 81% of foreign exchange crimes linked to digital assets since 2020.
Coinbase Waves at Canadian Football League Fans With $25 in Bitcoin.
Coinbase has become the official crypto partner of the Canadian Football League (CFL) and the 111th Grey Cup, targeting the Canadian market where approximately five million residents hold cryptocurrencies—about 13% of the population.
This sponsorship aims to engage CFL fans, many of whom Coinbase claims are crypto holders, and to attract more Canadians into the crypto economy.
Collectibles.com Partners With Curios to Launch Digital Twins of Exclusive 2024 Election Trading Cards.
Collectibles.com has partnered with Curios to launch twin NFTs for the 2024 election trading cards, merging physical and digital assets through blockchain technology.
This collaboration aims to enhance the collecting experience by allowing users to create, own, and trade digital representations of physical collectibles.
Curios will serve as the exclusive NFT minting partner, providing the technical infrastructure to facilitate a seamless integration of digital assets.
This partnership emphasizes user-friendliness, making NFTs accessible even to those unfamiliar with Web3.
Scroll Joins 2024’s L2s in a Race To The Bottom.
Scroll launched its mainnet on October 17, 2024, aiming to enhance Ethereum’s scalability with its layer 2 (L2) solution.
Despite initial excitement around its SCR token, Scroll has struggled to gain market traction, with the token down 23% since launch.
The project’s reliance on Binance for its launch has not guaranteed success, and it faces stiff competition from established zk-rollup solutions like Polygon zkEVM and zkSync Era, both of which have seen better adoption rates.
Farcaster’s Monthly Revenue Is Down 96% Compared To Its February Peak.
Farcaster’s monthly protocol revenue has dropped over 96% since its February peak, falling from $415,900 to about $15,825 this month.
The decentralized social media platform, initially popular among tech and crypto elites for its user experience and engagement features, has struggled to retain user interest due to a lack of new projects and underperforming ecosystem tokens.
Despite raising $150 million in a Series A funding round, analysts note challenges in scaling beyond the crypto community and managing spam, which could hinder future growth.
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