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Bitget Wallet launches $20M grant for Telegram Mini Apps

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Bitget, a leading cryptocurrency exchange and wallet provider, has raised $20 million in a funding round aimed at enhancing its wallet offerings and integrating Telegram mini-apps. The funding will be used to expand the capabilities of Bitget Wallet, allowing it to support a range of decentralized applications (dApps) and mini-apps within Telegram, which has become a popular platform for crypto users and communities. This move marks a significant step in Bitget’s strategy to bridge the gap between traditional crypto services and the growing demand for integrated, user-friendly blockchain applications.

The new investment will help Bitget enhance its wallet features, including deeper integration with Telegram’s messaging platform, allowing users to seamlessly access crypto tools and services without leaving the app. Telegram’s mini-app ecosystem has gained traction in the crypto space, as developers and users seek more accessible ways to interact with digital assets and decentralized services. Bitget’s collaboration with Telegram is expected to streamline the experience for users, making it easier to trade, store, and manage their crypto assets directly from within the app.

Bitget’s focus on Telegram is part of a broader trend of crypto platforms tapping into social media and messaging services to expand their user base. By leveraging Telegram’s large, crypto-savvy audience, Bitget hopes to attract new users and enhance engagement with its wallet products. The integration will allow users to participate in DeFi activities, access trading tools, and manage portfolios all from within the Telegram interface, making it a one-stop shop for crypto enthusiasts.

The $20 million funding round, which was led by prominent investors in the blockchain and fintech space, is a key milestone for Bitget as it looks to grow its market presence. As the cryptocurrency industry continues to evolve, platforms that can successfully integrate with social media and messaging apps are poised to capture a significant share of the market. The support for Telegram mini-apps could prove to be a game-changer, offering a more seamless and social way for users to interact with the decentralized web.

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Binance tightens South African compliance rules for crypto transfers

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Binance is tightening compliance measures for crypto transactions in South Africa, announcing it will fully implement the country’s Travel Rule requirements beginning January 2025. The move aligns with regulations set by South Africa’s Financial Intelligence Centre (FIC) and reflects the exchange’s broader efforts to meet global anti-money laundering standards.

Under the new rules, Binance will require South African users to include verified personal information—such as names, addresses, and account details—when sending or receiving crypto between platforms. These changes are designed to increase transparency and traceability of digital asset transfers, making it harder for illicit actors to exploit decentralized networks.

Binance emphasized that users must complete know-your-customer (KYC) verification before transferring crypto to or from external wallets. Transfers to non-compliant platforms may be restricted or flagged, while internal transfers within Binance or to Travel Rule-compliant entities will remain unaffected.

The announcement follows South Africa’s decision in 2023 to designate crypto as a financial product, placing digital asset providers under the supervision of the FIC. The country has since taken steps to integrate crypto into its formal regulatory structure, including licensing requirements and mandatory reporting obligations.

With enforcement beginning in 2025, Binance urged users to familiarize themselves with the new procedures to avoid disruptions. The exchange also plans to provide additional guidance and tools to help users remain compliant as the deadline approaches.

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Ethereum bounces back as market dominance recovers from all-time low

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Ethereum has staged a notable recovery after recently experiencing its lowest market dominance since its early days. The turnaround comes as ETH surged nearly 4% in the past 24 hours, climbing back above the $3,100 mark and narrowing its underperformance gap relative to Bitcoin.

For much of 2024, Ethereum has trailed behind Bitcoin and a growing wave of altcoins, with its market share dropping below 15% — levels not seen since 2015. The slump was driven by investor focus on Bitcoin ETF momentum, lackluster institutional interest in ETH, and rising competition from layer-1 and layer-2 networks offering faster and cheaper alternatives.

Despite these challenges, Ethereum’s fundamentals remain strong. Data shows a healthy uptick in active addresses, transaction volumes, and total value locked in DeFi protocols built on Ethereum. Additionally, hopes remain high for the approval of a spot Ethereum ETF in the U.S., with analysts suggesting a potential turnaround in institutional flows if approved.

Traders are now watching whether this rebound signals a sustained trend reversal or just a temporary relief rally. With key upgrades and ecosystem developments still in the pipeline, Ethereum’s ability to regain dominance may hinge on reigniting both investor confidence and broader developer activity.

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SEC says it won’t re-file fraud case against Hex’s Richard Heart

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The U.S. Securities and Exchange Commission (SEC) has confirmed it will not pursue a retrial in its fraud case against HEX founder Richard Heart, effectively bringing an end to one of the agency’s high-profile crypto enforcement actions.

The decision follows a recent court ruling that dismissed several key allegations against Heart, including claims that he misled investors and violated securities laws through the promotion and sale of HEX, PulseChain, and PulseX tokens. While the SEC initially signaled it would consider further legal options, it has now opted to forgo additional litigation.

Heart, a controversial figure in the crypto world, had long denied the SEC’s accusations, framing the lawsuit as an overreach by regulators. The agency had alleged that Heart raised over $1 billion from investors while misrepresenting how funds would be used and failing to register the offerings.

With the SEC stepping back, the dismissal marks a rare instance in which the regulator has chosen not to continue a crypto-related fraud case, potentially signaling a reassessment of its approach amid growing legal pushback and mounting scrutiny over its enforcement tactics.

Although the case is now closed, legal analysts suggest the outcome could influence future regulatory efforts and may embolden other crypto founders facing similar challenges. Heart, meanwhile, has positioned the development as a vindication, reaffirming his stance that HEX and related projects were never in violation of U.S. securities laws.

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