The cryptocurrency news of the day revolves around various developments in the industry. Here’s a creatively rephrased version of the article:
“Crypto Update: Highlights of the Day’s Crypto News
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Discover the latest crypto trends handpicked by CoinChapter.com.
Abra Resolves Regulatory Dispute
Crypto company Abra has come to terms with 25 state financial regulators due to operating without proper licenses. As part of the settlement, Abra must halt crypto-related services for U.S. clients and refund $82 million in virtual assets to affected users.
An investigation by multiple states revealed that Abra’s mobile app for crypto trading lacked essential licenses. To aid in customer reimbursement, potential fines of $250,000 per state were waived.
Exciting News from Zeta Markets: ZEX Token Airdrop Launched
Zeta Markets, a decentralized exchange built on Solana, has initiated an airdrop for its new ZEX token. This token will serve purposes such as governance, staking, and acting as the primary gas token for Zeta’s upcoming Layer 2 network, Zeta X.
Source:
X
During the airdrop, 10% of the total ZEX supply will be distributed, with 70% readily claimable by active traders. Having processed $10 billion in volume since 2021, Zeta Markets aims to incentivize long-term users and enhance engagement through this token distribution. Claim opportunities will remain open until September 25, 2024.
Source:
X
State Street and Galaxy Digital Collaborate on Crypto Investment Offerings
State Street Global Advisors and Galaxy Asset Management have joined forces to introduce novel cryptocurrency investment products. These products will provide exposure to crypto enterprises and offer both spot and futures-based ETFs. State Street has submitted an application to establish a crypto-focused fund named SSGA Active Trust, which will be managed by Galaxy on a daily basis.
Through this partnership, investors will gain access to the $2.4 trillion digital asset sector via actively managed strategies.
Expansion Alert: South Korean Crypto Firm Ventures into Abu Dhabi
Hashed Ventures, a prominent South Korean crypto investment entity, is expanding its operations to Abu Dhabi. This strategic move comes in partnership with Hub71, the city’s tech ecosystem enabler, with plans to establish an office in the region. The initiative forms part of Abu Dhabi’s ambition to attract crypto talent and establish itself as a hub for digital assets.
CEO Simon Seo-Joon Kim highlighted challenges in the South Korean market as a driving factor behind seeking opportunities abroad. Hashed is also in discussions with other South Korean crypto firms regarding potential entry into the UAE market.
Blast Token Soars Post Airdrop
Following its launch, the Blast (BLAST) token native to the Ethereum layer-2 network Blast witnessed a remarkable 40% surge in price. Originally valued at $.02 per token with a fully diluted worth of $2 billion, it has now risen to $.0281.
The BLAST token has experienced a 40% upsurge post-launch. Source:
CoinMarketCap
During the airdrop, 17% of BLAST’s total supply was distributed among different user groups and the Blur Foundation. This successful debut stands in contrast to recent token releases like zkSync and LayerZero, which have seen declines post-launch.
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