Fr. Sep 29th, 2023

• WazirX claims that Binance controls its WRX token
• Ripple acquires crypto custody firm Metaco in a $250 million deal
• UK Treasury Committee recommends regulating cryptocurrencies like gambling.

WazirX Claims Binance Controls its Token

News source WazirX has announced that cryptocurrency exchange giant Binance now controls the WRX token. This comes as part of an acquisition of a crypto custody firm called Metaco worth $250 million.

Ripple Acquires Crypto Custody Firm

Cryptocurrency company Ripple has acquired crypto custody firm Metaco for a massive amount of $250 million. The move is likely to further strengthen Ripple’s position in the crypto industry, allowing it to provide more secure storage solutions for its users.

Binance’s Share of Bitcoin Spot Market Falls

Since February, Binance’s share of the Bitcoin spot market has fallen by more than half, from 85%. This could be due to increased competition from other exchanges and an overall decrease in trading activity on the platform.

Tether USDT to Strengthen Reserves with Bitcoin Purchase

Stablecoin Tether (USDT) has announced plans to purchase additional Bitcoin reserves in order to strengthen their own reserves and ensure they can maintain the value of their token. This is part of an effort to increase transparency and trust among users, following criticisms about potential lack of reserve backing.

Crypto Advocacy Group Criticizes UK Treasury Committee Recommendation

Crypto advocacy group CryptoUK criticized the U.K.’s Treasury Select Committee’s recommendation to regulate cryptocurrency trading as gambling-like activity. They argued that such regulations fail to accurately reflect the true nature, purpose and potential of blockchain technology and cryptocurrencies in general.

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