Top Crypto News: 09/24

After making a daily low of $41,018, Bitcoin is now trading at $42,926. Meanwhile, the second-largest cryptocurrency, Ethereum, is trading close to $2,946.

Let’s deep dive into some interesting crypto news stories for today.

1 – The Chinese Government Cracking Down on Cryptocurrency Plunged BTC Price $3,000 Within an Hour

The Chinese government today announced it was cracking down on the cryptocurrency industry by declaring all activities associated with crypto to be illegal. As stated, the Chinese government, including the central bank and foreign exchange regulators, are working together to prevent cryptocurrencies trading.

In addition, the People’s Bank of China (PBOC) said cryptocurrencies must not circulate in markets as traditional currencies. Further, the PBOC also barred overseas exchanges, financial institutions, and payment companies from facilitating cryptocurrency trading. This news plunged Bitcoin price by $3,000 within an hour and Ethereum lost the $3,000 support region.

2 – Twitter Integrated Bitcoin Tipping Service for All Users

Twitter has integrated a cryptocurrency tipping service, dubbed Tips, that allows users to tip cryptocurrency directly to a native Bitcoin address. As per the blog, users are now able to send tips through Bitcoin.

In addition, users can also tip using the Lightning Network payments app named Strike. Currently, Strike is available in El Salvador and the U.S. (excluding Hawaii and New York). Earlier, Twitter’s Tip feature also incorporates other integrated services such as Venmo, Razorpay, Patreon, and more.

3 – IOHK Plans to Reveal the Cardano dAppStore at Upcoming Summit

Cardano reached a major milestone after the Alonzo launch on September 12. Moreover, these upgrades help developers to launch dApps and smart contracts on Cardano. IOHK has not revealed the commercial details of their dAppStore yet, but a prototype will be unveiled at the upcoming Cardano Summit on September 25.

As per IOHK, the dAppStore would help to fix the discovery and quality assurance challenges of third-party dApps. Further, a certified dApp gets an added assurance and has to go through a series of tests to verify its soundness as a protocol.

4 – FTX | Mercedes-AMG Petronas F1 Partnership to Expand Its User Base

FTX has declared it has signed a sponsorship deal with the Formula One team Mercedes-AMG Petronas. As per the tweet, this is a multi-year partnership where the FTX logo will be featured on both the cars and the drivers.

As stated, FTX branding will be revealed during the upcoming Russian Grand Prix on September 26. Further, the FTX logo will appear on Mercedes-Benz trucks, in the garage, and in hospitality and communications facilities. Collaboratively, FTX and the Mercedes F1 team will work on initiatives such as FTX Pay integration, an NFT collection, and corporate social responsibility.

Impressively, this partnership joins blockchain technology with F1 speed. This will help the FTX exchange to attract a larger user base and allows the Mercedes-AMG team to engage a new wave of fans.

5 – Crypto.com Joins Orion Network as Node Validator to Empower Users

In the last bit of crypto news for today, we have Crypto.com joining Orion Network as a Broker (Node Validator). With this integration, Orion ecosystem users will enjoy Crypto.com’s incredible liquidity and volume directly from their wallets. In turn, Crypto.com developers would utilize Orion’s decentralized gateway to access major CEXes, DEXes, and swap pools.

In addition, Crypto.com as a Node Validator will get an opportunity to expand its ecosystem and user base. Additionally, this would also increase both projects’ revenue through transaction fees while boosting growth.

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