The U.S. Securities and Exchange Commission (SEC) wants to urge a New York judge to punish the business that created the XRP Ledger blockchain around $2 billion. Ripple Labs filed an opposition to this plan on Monday. “The SEC should be denied an injunction, disgorgement, and pre-judgment interest, and a civil penalty of no more
According to Reuters, PDVSA, Venezuela’s state-owned oil corporation, is considering using Tether (USDT) as a way around fresh penalties imposed by the US on it.According to Reuters, PDVSA is attempting to increase its use of USDT as a safeguard against having its foreign bank accounts seized. The biggest stablecoin based on the dollar in the
A number of high-profile scandals and controversies that have seriously damaged consumer confidence have made a rebranding in the bitcoin space necessary. Several well-known cryptocurrency businesses collapsed in 2022, leaving investors with large losses and raising concerns about the industry’s overall stability and security. FTX’s demise, which was mostly caused by liquidity problems, and the
According to a press release on Monday, Shiba Inu, an Ethereum-based ecosystem symbolized by the second-largest dog-themed token SHIB, raised $12 million in a token sale round to construct its blockchain with an emphasis on privacy.Investors that bought the upcoming utility and governance token TREAT for the new network, including Comma 3 Ventures, Big Brain Holdings, Cypher Capital, Shima Capital, Hercules Ventures, Animoca Brands, Morningstar Ventures, Woodstock Fund, DWF Ventures, Polygon Ventures, Stake Capital, Illuminati Digital Capital, Primal Capital, Mechanism Capital, and Spirit Dao, are listed as participants in the round. The press announcement also stated that Shiba Inu Mint S.A., an ecosystem development company registered in Panama, closed the acquisition.The fundraising was prompted by a February CoinDesk story that revealed Shiba Inu developers were collaborating with cryptography startup Zama on a new, privacy-focused network atop Shibarium, the ecosystem’s layer-2 blockchain running on Ethereum.Fully Homomorphic Encryption (FHE), a privacy technique that enables developers to use data on untrusted domains without requiring it to be decrypted, will power the network. Over the last day, SHIB increased 2.2%, matching the rise of the CoinDesk 20 Index as a whole.Its market capitalization is close to $16 billion, making it the 12th largest cryptocurrency.
The weekend saw the inauguration of the cryptocurrency casino ZKasino, but investors were not impressed. They are accusing the company of mishandling $33 million in user deposits to the staking platform Lido. To maintain fairness, ZKasino is an on-chain gaming platform that makes use of EigenDA, zkSync, Chainlink, and Randomizer’s Verifiable Random Functions.It raised $26.2 million at a $350 million valuation in March. Before the site went online, ZKasino made its token bridge available to investors, enabling them to deposit Ethereum (ETH) and earn ZKAS, the native token of the network.The website’s original language, which said that bridged ether would be “returned” when the bridging time ended, has since been changed. In a blog post on April 20, ZKasino wrote that “all bridged ethereum has been converted to our native gas token, ZKAS, at a discounted rate of $0.055.” “This conversion was done as a favor to our users who have bridged to participate in the ecosystem,” it added. More than 10,000 individuals contributed $33 million worth of ether, which ZKasino then transferred to the restaking platform Lido, according to blockchain data.Depositors are vocally demanding a return on social networking site X, and ZKasino has not yet responded to this outpouring of criticism.
According to the Financial Times, the New York Stock Exchange conducted a survey among its participants to find out how they would feel if the market ran on the same 24-hour schedule as cryptocurrencies. With bell-ringing ceremonies in the morning and afternoon, the NYSE, which dates back to the 18th century, is well-known for marking the beginning and end of daily trading. However, due to electronic trading, transactions have actually occurred for decades prior to the first bell at 9:30 a.m. and after the second one at 4 p.m. New York time. To be the first stock exchange to provide trading around-the-clock, 24-Exchange, a startup backed by billionaire hedge fund manager Steve Cohen, intends to go one step further.Like Robinhood, a number of retail brokers currently allow customers to trade day and night.Moreover, trade in cryptocurrencies never stops.In 2023, Dmitri Galin, the CEO and founder of 24 Exchange, stated to Bloomberg that “anyone who wants to trade crypto would also like to trade Apple or Microsoft 24/7.” After cryptocurrency gained enormous popularity and retail trading experienced significant growth during the Covid-19 pandemic, round-the-clock trading became a popular concept.A surge in Asian and European investor interest in US financial assets has also been observed in recent years. “The world changed with the pandemic and with crypto trading 24/7. Everybody has the infrastructure and the support to handle trading overnight now,” Brian Hyndman, chief executive of Blue Ocean, an overnight-trading provider, told the Financial Times in December. According to the FT, the NYSE polled participants on a number of topics, including how investors should be shielded from market volatility, whether they would prefer overnight trading to occur seven days a week, and how personnel should be handled during overnight sessions.The SEC will decide on 24 Exchange’s application within a few months.
A $1 million pre-seed financing round has been secured by Egypt-based HRtech startup Wamda Bluworks in order to grow its staff and enhance its product. The investment round was led by Khawarizmi Ventures and included participation from Camel Ventures, Acasia Ventures, and other angel investors. This development is a reaction to the demand for improvement,
The first cryptocurrency exchange to expose retail clients to tokenized US Treasury bills is Woo X, and they are proud of it. RWA Earn Vaults, named after real-world assets, is a yield-bearing product that was revealed on Monday. It was developed in collaboration with OpenTrade, an institutional tokenization platform based in London. Willy Chuang, the
According to a Friday announcement, Thai authorities have chosen to restrict “unauthorised” cryptocurrency sites in an effort to improve the effectiveness of law enforcement in combating internet crime. The Securities and Exchange Commission of Thailand was directed to furnish the Ministry of Digital Economy and Society with information about unapproved digital asset service providers in
Beyond the “4/20” halving date, Bitcoin is providing some timeless memes this week.Market watchers are rejoicing over a halving that has been “almost too perfect” because to the popularity of the spot Bitcoin exchange-traded funds (ETFs). Even though the BTC market action is solidly sideways following this halving, some people seem to believe that everything was meant to be.Eric Balchunas, a devoted ETF analyst at Bloomberg Intelligence, shared an interesting coincidence regarding halving day in a post on X (previously Twitter).The most significant occurrence occurred on April 20 (also known as “4/20,” a significant meme date in and of itself), as the biggest Bitcoin ETF in the US completed 69 days of nonstop inflows.“It’s a bit too idealistic,” Balchunas said. Since reaching their peak in March, the inflows into Bitcoin ETFs have significantly slowed.Even so, there hasn’t been a single day of withdrawals from BlackRock’s iShares Bitcoin Trust (IBIT), which is the largest ETF in terms of assets under management.The most recent data on ETF flows, which comes from investing firms based in the UK like Farside, indicates that momentum may have started to pick up again at the end of last week.IBIT received somewhat less than $30 million on April 19, whilst Fidelity Investments’ second-largest ETF managed close to $55 million. Jim Bianco, the founder of the macro analysis company Biacno analysis, called the first-quarter allocation statistics a “disappointment.”In an X post comparing the gains made by ETF investors to the present BTC price action, he continued, “Unrealized gains are shrinking fast.” Balchunas countered by stating that asset managers would handle the goods like “hot sauce.”He stated in an X forum that “IBIT now has about 60 holders reported, but they only account for a tiny 0.4% of total shares out.” “Shows that most of the bites are nibbles but there are a LOT of fish. This in tune with the high daily # of trades as well and our thesis that this is gonna be used like hot sauce for 60/40 ppl, just gonna add a little bit.”
On Sunday, Tesla’s official website revealed that the starting price of the redesigned Model 3 in China had been lowered by 14,000 yuan ($1,930) to 231,900 yuan ($32,000). The manufacturer reduced the cost of its Model 3 rear wheel drive in Germany from 42,990 euros ($43,670.75), the price it has been charging since February, to
The price of ether increased today, gaining 4.25% to over $3,200 on April 21. The coin’s gains are consistent with positive trends observed in the cryptocurrency industry as a whole, which saw a 3.5% increase in market capitalization during the same time period. The current increases in Ether relative to the US dollar are mostly
According to recent favourable inflows in the U.S. Bitcoin ETF market, there is an increasing demand for ETFs, which is reflected in the prediction. Wealth management companies will own more Bitcoin exchange-traded funds (ETFs) than they did a year ago, according to Bitwise CEO Hunter Horsley. As the halving is predicted to occur, the prediction
It’s premature to get thrilled, according to Bloomberg ETF expert Eric Balchunas, even though Grayscale’s new Mini Bitcoin ETF will be around ten times less expensive than GBTC’s costs. The most affordable choice among the authorised spot Bitcoin ETFs is Grayscale Investments’ planned “mini” version of the Grayscale Bitcoin Trust (GBTC) exchange-traded fund (ETF), which
Victory Securities has revealed its costs for Bitcoin and Ethereum ETFs, even though the Hong Kong SFC hasn’t yet released an approved list of issuers. Following the recent licencing of cryptocurrency ETF products within the region, Hong Kong-based investment firm Victory Securities apparently revealed its planned fees to investors for Bitcoin and Ethereum exchange-traded funds
Even among seasoned blockchain developers who detest the digital tokens that can be created on the platform, attention was drawn to the launch of prominent Bitcoin builder Casey Rodamor’s latest creation, Runes, even though this was the most anticipated Bitcoin halving to date (at least based on Google search history). The Ordinals protocol, which enables
According to a pro forma financials in its most recent filing, Bitcoin ETF provider Grayscale has disclosed some information on its spin-off fund, the Bitcoin Mini Trust (BTC), including a more appealing 0.15% fee than the uplisted mothership GBTC product. An example of how much Bitcoin (BTC) Grayscale will donate to the mini fund is
Chukwuka Ikuazom, the attorney for Gambaryan, protested, citing Nigerian law and claiming he couldn’t enter a plea until Binance, the main defendant, was served. The tax evasion trial of cryptocurrency exchange Binance and two of its executives in a Nigerian court has been postponed until May 17. The reason for the delay was that the
Dr. Bosun Tijani, the minister of communications, disclosed that 21st Century Technologies and Galaxy Backbone are working together to accelerate the advancement of important artificial intelligence projects for the country. In an effort to establish Nigeria as a pioneer in the continent’s artificial intelligence (AI) development, the government of that nation has introduced Nigeria’s first
The collaboration seeks to improve commercial relations while guaranteeing the safe, secure, transparent, and reliable application of AI. In order to investigate possible collaboration opportunities, the United States of America (U.S.A.) and Nigeria are prepared to have talks about the digital economy, cutting-edge technology, and the development of artificial intelligence (AI). This information was disclosed
A new age has begun with the rise of nonfungible token (NFT) markets, which have significantly changed our perception of and behaviour with regard to digital assets. They provide artists a brand-new stage on which to showcase their creations and establish a deep connection with their audience. With this shift, OpenSea is at the forefront.
Community leaders who attended the event were shocked by the amount of attendees who persisted, even in the face of challenges faced by members of the crypto community who had flown to the United Arab Emirates for the Token2049 event.Roadblocks and other difficulties that may have caused many individuals to simply give up and leave the nation were presented to the delegates on April 18.Leaders in the field who were due to speak with Cointelegraph were stranded in several airports and were forced to return due to the circumstances. Tether CEO Paolo Ardoino had to wait an extra two hours in the sky because the plane was unable to land due to the storm. “I was quite lucky because I only spent two more hours in the sky,” said Ardoino. Nonetheless, Ardoino expressed gratitude for the kind of individuals in the crypto world after observing the sheer number of attendees. He remarked “It’s a good sign that this industry is made by people
The token infrastructure platform Hedgey Finance has had two simultaneous hacks that have cost it $44.7 million in lost revenue. An X post from on-chain security company Cyvers on April 19 states that Hedgey was the victim of an exploit on the Arbitrum network valued around $42.8 million Arbitrum (ARB) tokens.A portion of the money has already been placed by the attacker on the Bybit cryptocurrency exchange. According to an X notice by Cyvers, the Hedgey protocol was previously compromised for a total of $1.9 million in cryptocurrency on the Ethereum network. Hedgey protocol confirmed the exploit, adding that it is actively working with auditors to understand the vulnerability behind the potentially ongoing attack. It said in an April 19 X post: “We’re investigating an attack on the Hedgey Token Claim Contract. If you have created active claims, please cancel them using the “End
Pavel Durov of The Open Network pledged to employ blockchain technology to power Telegram’s messaging software in the future. He revealed ambitious plans to tokenize features, give users a cut of ad revenue, and integrate Tether’s stablecoin at Token2049.Speaking to a crowded audience in Dubai, Durov extolled the virtues of blockchain technology’s capacity to uphold privacy and freedom before laying out ambitious ambitions to expand The Open Network’s (TON) functionality. “The reason we love blockchain. It’s a technology of freedom. We care about freedom. Even our logo, the paper airplane symbolizes freedom to move in three dimensions,” Durov said. The startup aims to enable its users to create tools, apps, and businesses on Telegram, according to the app’s founder. The app is believed to have over 900 million monthly users. According to Durov, unlike other significant messaging and social media companies that sell user data to advertising, Telegram has taken a different tack when it comes to monetizing its user populations.Recently, Telegram revealed plans to use its Ad Network to split platform revenue with content creators.According to Durov, the change represents one of the most advantageous revenue-sharing schemes in social media history.He added that channel owners and content producers using TON’s network would get 50% of Telegram’s revenue from broadcast channels and ad displays. “All these transactions, the payments for ads, withdrawals of ads are powered by blockchain. We will use the TON blockchain exclusively for that.”
Quests and airdrops are combined into a loyalty programme on the new site. Exchange of cryptocurrency For web3 users, Binance has introduced an early access incentive and rewards programme with quests and airdrops. The new programme, called “Megadrop,” is a platform for token launches where users, according to a Binance blog post, “can subscribe BNB
Following Justin Sun’s attempt last month to have the lawsuit dismissed on the grounds that the regulator lacked jurisdiction, the SEC filed an updated lawsuit against Sun. The US Securities and Exchange Commission has restructured its case against Justin Sun, the founder of Tron, alleging that he has “travelled extensively” throughout the nation, granting the
The Akira ransomware organisation has been targeting corporations and key infrastructure institutions in North America, Europe, and Australia since March 2023, according to information uncovered by the U.S. FBI. Leading international cybersecurity agencies were informed that Akira, a ransomware group that has been active for a year, had compromised over 250 organisations and taken away
Verifying transactions and adding them to a blockchain ledger are the tasks of cryptocurrency mining, which calls for the solution of challenging mathematical puzzles. Central processing units, or CPUs, were primarily used for mining in the early days of cryptocurrencies. But because GPUs (graphics processing units) have better processing power, they have grown in popularity
The asset issuance chain Noble and tokenized real-world asset (RWA) platform Ondo Finance (ONDO) announced their partnership on Thursday. The goal of their partnership is to introduce tokenized U.S. Treasury products to the Cosmos (ATOM) ecosystem.USDY, a tokenized note backed by short-term U.S. Treasuries offering a 5.2% annual yield, is the first asset Ondo wants to issue natively through Noble. A representative told CoinDesk that the goal is to launch USDY before the end of the second quarter of this year. Ethereum, Solana, Mantle, and Sui are presently hosting USDY. As a result of Ondo’s entry into the Cosmos ecosystem, its token offerings will be connected with more than 90 blockchains, increasing consumer traction for its products, which are backed by US Treasury bonds and offer yield as a savings, payment, and collateral asset.Known as the “internet of blockchains,” Cosmos is a network that facilitates interoperability across several blockchains, such as dYdX (DYDX), Celestia {{TIA}}, Sei (SEI), and Injective (INJ). Ondo intends to utilize Noble, an application-specific chain in the ecosystem that is intended to issue native digital assets, as a “routing hub” for liquidity in the Cosmos network. “Having Noble as our issuance partner will bring vastly improved utility and liquidity to appchains and their users, all while offering exposure to yielding instruments,” said Nathan Allman, founder of Ondo Finance. In the past year, the $1.2 billion tokenized Treasury market has grown significantly as cryptocurrency investors and digital asset businesses looked for safe methods to store their blockchain-based cash holdings and earn an interest. One of the biggest players in this market is Ondo Finance.Since its launch in early 2023, Ondo’s tokenized offerings have drawn deposits totaling over $300 million. BlackRock, a well-known traditional asset management company, has joined forces with Securitize to enter the market and offer the Treasury-backed token BUIDL, which Ondo is currently using to back its OUSG token.
The company that created the Aptos layer-1 blockchain, Aptos Labs, said that it is working with Brevan Howard, Microsoft, and SK Telecom, a South Korean wireless carrier, to provide institutions with an entry point into decentralized finance.Through this cooperation, Aptos Ascend—a suite of end-to-end institutional solutions—will be made available. These solutions include aid with regulatory requirements, tools for protecting account and transaction privacy, and integrated features for know-your-customer (KYC) checks. This is an attempt by several layer 1s to close the distance between DeFi and big institutions.To try and accelerate this, Avalanche, NEAR, and other organizations have all launched enterprise collaborations.A news release states that the financial suite offering will make use of Microsoft Azure and Azure OpenAI technologies. According to the announcement, Brevan Howard will be involved in developing possible prospects for institutions to offer digital asset management or products to their clients by using its experience and expertise in the field.The solutions’ implementation will be aided by Boston Consulting Group. “In collaboration with SKT, Brevan Howard and Microsoft, Aptos Ascend will provide the world’s financial institutions, banks, and tech-forward money markets with a performant, compliant, secure, and scalable gateway to decentralized finance on Aptos that will evolve for years to come,” said Mo Shaikh, co-founder and CEO of Aptos Labs. August saw the announcement by the business that Aptos is utilizing Microsoft’s infrastructure to roll out new products that integrate blockchain and artificial intelligence, such as Aptos Assistant, a new chatbot.Former Meta staff members created Aptos Labs.
