Decentralized technology company Binary Holdings announced that it has received a $5 million strategic investment from ABO Digital. According to reports, decentralized technology company Binary Holdings is headquartered in Dubai, UAE, with a global user base of 169 million, and is committed to creating an open, interoperable network for digital commerce. The company plans to launch the digital bank Millenia in the second quarter of 2025. (Decrypt)

According to Foresight News, data from L2BEAT indicates that Arbitrum One has surpassed a total value locked (TVL) of $20 billion, marking it as the first Layer 2 network to reach this significant milestone. The network's TVL experienced a 15.6% increase over the past 24 hours. In comparison, Base's TVL stands at $12.4 billion, reflecting a 14.5% growth within the same period. Meanwhile, OP Mainnet has a TVL of $8.66 billion, with a 16.5% increase in the last 24 hours. Blast's TVL is reported at $1.57 billion, showing a 5.82% rise, while ZKSync Era's TVL is at $1.3 billion, having grown by 26.1%. Starknet's TVL is recorded at $1.13 billion, with a 22.2% increase over the past day. These developments highlight the dynamic growth and competitive landscape among Layer 2 networks, as they continue to expand their capabilities and attract more value within the decentralized finance ecosystem.

On Dec 04, 2024, 10:18 AM(UTC). According to Binance Market Data, BNB has crossed the 790 USDT benchmark and is now trading at 790.109985 USDT, with a narrowed 21.20% increase in 24 hours.

According to Foresight News, Reserve has issued a statement addressing the current market conditions, expressing agreement with the characterization of RSR as a 'meme coin' by Paul Atkins. Reserve further noted that Paul Grewal, a former senior advisor to the U.S. Securities and Exchange Commission (SEC), had served as an early advisor to the Reserve Protocol. Reserve expressed its anticipation of collaborating with Grewal under the framework of digital securities initiatives, should he be nominated as the SEC Chair. This potential collaboration is seen as an opportunity to align with regulatory developments in the digital securities space. The statement reflects Reserve's strategic interest in engaging with regulatory bodies to navigate the evolving landscape of digital assets and securities. The mention of Paul Grewal highlights Reserve's historical connection with influential figures in the regulatory domain, underscoring its commitment to compliance and proactive engagement with regulatory authorities. This approach is indicative of Reserve's broader strategy to position itself favorably within the regulatory frameworks that govern digital securities.

According to PANews, Canadian Bitcoin mining giant Hive Digital has announced a significant expansion of its Bitcoin mining operations in Paraguay. The company has invested $60 million to acquire 13,480 Bitmain Antminer S21+ Hydro mining machines, which will collectively provide a total computing power of 4.3 exahashes per second (EH/s). This capacity represents 2% of the global Bitcoin network's total hash rate. Additionally, Hive has secured an option to purchase machines with an additional 4.3 EH/s capacity, which, if fully exercised, would increase their total computing power to 15 EH/s by the summer of 2025. Hive Digital anticipates that upon completion of this expansion, the company's annual revenue will exceed $300 million, with mining profits projected to reach $200 million. The decision to expand in Paraguay is driven by the country's access to affordable green energy from the Itaipu Hydroelectric Dam, as well as its business-friendly policies and low tax rates, which make it an attractive investment destination for Hive.

Traders are actively accumulating ETH, keeping the price stable as they increase their holdings. source: https://ambcrypto.com/ethereum-traders-keep-eths-price-action-in-check-as-accumulation-continues/

Dubai’s Virtual Assets Regulatory Authority (VARA) has issued alerts for seven crypto entities claiming to be registered and licensed in Dubai. The entities include, Koto Crypto, Finchain, Crypto Force, Coin Cashy, BTC Bay, XT.com, and Stabit. The first entity, Koto Crypto based out of DMCC (Dubai Multi Commodities Center) which claims to be registered in […] source: https://www.cryptopolitan.com/dubais-regulator-alert-xt-other-entities/

The post India Cracks Down on Binance-linked Crypto Exchange Crypto Exchanges for $85M Tax Evasion  appeared first on Coinpedia Fintech News India’s GST department has found a massive ₹722.43 crore ($85M) tax evasion by Nest Services, a crypto exchange linked to Binance Group. In addition to this, 17 other crypto exchanges have been charged for evading GST, with a total amount of ₹824.14... source: https://coinpedia.org/crypto-live-news/india-cracks-down-on-binance-linked-crypto-exchange-crypto-exchanges-for-85m-tax-evasion/

Tron’s native token TRX has skyrocketed by 66% in the past 24 hours, earning the title of the top-performing altcoin among the top 100. This impressive rally aligns with a broader altcoin surge driving market-wide gains. The surge has drawn comparisons to Ripple (XRP), which saw a staggering 300% price increase over the last 30 days. The key question now is: can TRX sustain its upward... source: https://beincrypto.com/trx-becomes-top-performing-altcoin/