Bitcoin at Rs 17.80 lakh

Major cryptocurrencies traded in the red early on August 23. The global crypto market cap was $1.03 trillion, which is a 0.01 percent increase over the last day. The total crypto market volume over the last 24 hours was $70.74 billion, which makes a 19.05 percent increase. The total volume in DeFi stood at $5.43 billion, 7.67 percent of the total crypto market 24-hour volume. The volume of all stablecoins was at $63.92 billion, which is 90.37 percent of the total crypto market's 24-hour volume. The price of Bitcoin hovered around Rs 17.80 lakh. Bitcoin’s dominance is currently 39.84 percent, a fall of 0.25 percent over the day, according to CoinMarketCap. Read more here.

Ethereum Merge drama continues as traders pile out, then back in

For the past month, crypto markets have been buffeted by speculation over the potential impact of Ethereum's (ETH) coming Merge – a major milestone for the second-largest blockchain. A key question is how the shift to a proof-of-stake system, which is supposed to be faster and more energy-efficient than the current proof-of-work protocol, will affect prices for ether and related digital assets. And with the event now approaching, expected next month, the market narrative keeps twisting. (CoinDesk)

Argentine Presidential Candidate Sued Over Alleged Crypto Ponzi Scheme

Argentina’s eccentric Bitcoiner presidential candidate is being sued for allegedly promoting a crypto ponzi scheme.  Javier Milei, a top contender to be the next president of Argentina, last year uploaded an Instagram post to his 1.3 million followers promoting CoinX, a crypto investment platform that promised huge returns to users.  (Decrypt)

PayPal joins Coinbase's TRUST network

PayPal is collaborating with Coinbase on regulatory compliance. According to a statement from Coinbase on August 22, the payments giant has joined Coinbase’s Travel Rule Universal Solution Technology (TRUST) network. (Crypto Briefing)

Bank run at NFT lender BendDAO prompts attempt to avert another liquidity crisis

NFT-collateralized crypto loans platform BendDAO looked to right itself Monday after lurching through a nearly disastrous liquidity crisis over the weekend, a situation that underscored the pitfalls of letting people borrow crypto money against their Bored Apes. (CoinDesk)

Australia embarks on crypto stocktake ahead of regulation

Australia said on Monday it would do a virtual stocktake of the country's cryptocurrency holdings, the first signal from the new centre-left government that it plans to regulate the $1 trillion sector. (NDTV Profit)