Today, we take a look at what's going on with 1inch, Huobi, El Salvador and Twitter.
Today’s Top Crypto News Stories
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Twitter’s Bluesky Decentralized Social Media Initiative Gets Boss
Twitter and Square CEO Jack Dorsey announced the Bluesky project to build a decentralized social media platform back in 2019. It finally has a boss, crypto developer Jay Graber, who is hiring staff. The goal is to broaden the social media conversation among multiple platforms, hopefully civilizing the public conversation. Get the details here.
El Salvador’s Bitcoin Law Threatens Corporate Credit Ratings ₿
Fitch Ratings warned that El Salvadoran insurance firms will face new pain and higher costs because of the country’s embrace of Bitcoin. The Big Three credit ratings firm said crypto’s volatility and higher costs may lead to worse credit scores. The Bitcoin Law will make BTC a legal tender, forcing insurers to accept it in payment, along with the U.S. dollar. Check it out.
In Latest Crypto Crackdown, Spain Warns Huobi Is Unlicensed 🇪🇸
Spain’s securities market regulator is the latest financial oversight body to crack down on crypto. The CNMV warned that top exchange Huobi is one of a dozen crypto firms operating illegally in the Country. Regulators across Europe, Asia, and the U.S. have been on the warpath, with No. 1 exchange Binance taking the brunt of the assault. See the latest.
1inch Aggregator Embraces Optimism’s Ethereum-Based Layer 2 🫂
Exchange aggregator 1inch announced today that its latest expansion has taken it to Ethereum scaling solution Optimism. The layer-2 solution will make it easier and cheaper for traders who use it to seek out the best price for trades across many decentralized exchanges. More DeFi protocols are jumping ship from badly clogged Ethereum. Get the story here.