Industry News
Creator of the Fantom blockchain, Andre Cronje, Weighs In on Solana’s Scalability Efforts
Andre Cronje, the creator of the fantom blockchain, made interesting observations on Solana’s operational issues during the peak of this blockchain chain’s popularity. To his Twitter account, known as “X,” Cronje shared an official statement countering the growing narrative regarding Solana’s current problems, which had received immense attention from the crypto world on discussion boards. …
FTX Estate’s Massive SOL Liquidation: A Turning Point in Crypto Market Stability
In a historic event that has changed the tide of the cryptocurrency industry, the trustee decided to sell the biggest part of its Solana (SOL) holdings, around $2 billion, which had the impact of stabilizing the market of cryptocurrencies. The biggest deals in this sales process have Galaxy Trading, Pantera Capital, and Neptune Digital Assets,…
Hong Kong Deputy Secretary says Web3 tech is revolutionary at Carnival opening
During the opening ceremony of the Web3 Carnival in Hong Kong, Huang Weilun, who serves as the Deputy Secretary of Financial Services and the Treasury of the Hong Kong Special Administrative Region, expressed his belief that Web3 is a revolutionary technology, according to a local report on April 6. He also emphasized Hong Kong’s commitment…
Genesis sells GBTC Shares for 32,041 Bitcoins Amid bankruptcy
Genesis, a crypto lending company that went under bankruptcy, has sold its Grayscale Bitcoin Trust (GBTC) shares, and with the proceeds it purchased 32,041 bitcoins, according to a news.bloomberglaw.com/bankruptcy-law/bankrupt-genesis-sold-gbtc-shares-to-acquire-32-041-bitcoin” target=”_blank” rel=”noreferrer noopener nofollow”>Bloomberg report on Friday. Repaying creditors The sale of GBTC shares transaction was completed on April 2, as per the report. Genesis was…
RootData raises a $1.25 million Seed fund to enable users in web3 ecosystem
From the Web3 asset data sector, RootData, a start-up platform, has delivered a pre-seed investment capped at $1.25 million which it considers a significant boost to its operations. The next round also engaged foremost investors deploying NLVC, Boyaa Interactive, Bonfire Union Ventures, and top several names in the sector. The capital is appointed for R&D…
Paraguay considers kicking crypto miners to the curb
Paraguay is laying down the law against crypto miners who’ve been having a field day tapping into its electrical grid like it’s an all-you-can-eat buffet. Lawmakers in Paraguay are done watching from the sidelines and have proposed a bill that’s basically a giant stop sign aimed at crypto mining and everything that comes with it….
Monochrome moves Bitcoin ETF bid to Cboe Australia
Monochrome Asset Management, a Brisbane-based company, has moved its request for bitcoin-etfs-experience-significant-outflows/” target=”_blank” rel=”noopener”>Bitcoin exchange-traded fund (ETF) licenses to Cboe Australia. The company’s intent was to go public on the Australian Securities Exchange (ASX) by July 2023. The selection of Cboe Australia results from the growing importance of Asia’s investment landscape. Monochrome wants to utilize…
Uniswap hits milestone $2 trillion all-time trading volume
uniswap has hit a remarkable milestone figure of above $2 trillion in terms of its all-time trading volume. According to data compiled by the platform’s strategy and operations lead Zach Wong and tracked on Dune Analytics, the decentralized exchange (DEX) hit the milestone figure at 11:55 am UTC. Notably, the firm is hitting the milestone…
Ellipsis Labs secures $20 million in Series A funding
Cryptocurrency developer Ellipsis Labs has finalized a Series A funding round, securing $20 million. According to its post on X (formerly Twitter), the investment round was led by Paradigm with additional support from Electric Capital. Other participants include Ethereum Foundation’s Justin Drake and Mike Neuder, Solana co-founder Anatoly Yakovenko, EigenLayer’s Sreeram Kannan, and a few…
ZA Bank launches banking services for stablecoin issuers
In a bid to boost local Web3 adoption, Hong Kong-based ZA Bank has announced that it will offer banking services to issuers of stablecoins. According to its official announcement, the contact banking bank.za.group/en” rel=”nofollow noopener” target=”_blank”>platform said that it will open up security for fiat reserves, which issuers can leverage to back up their digital…
Destiny Tech100 Fund Surges 818% Since NYSE Debut
Destiny Tech100 Holdings Inc, a new fund, reported making a significant profit, further established by the fact that even a single day of listing on the New York Stock Exchange (NYSE) had delivered tremendous returns. There was a huge bull market, as big as 800%, which was the marketcap at its all-time high. The same…
BlackRock teams up with Wall Street giants for Bitcoin ETF participation
Blackrock, the largestbitcoin-etfs-as-trading-hit-highs/” target=”_blank” rel=”noopener”> ETF issuer in the developed world, has named four major Wall Street banks its authorized participants for its IBTC ETF, making them eligible for block trades. Citi, Citadel, Goldman Sachs, and UBS coming together at once with the spot bitcoin ETFs being the greatest spotlight of this is not a…
ADA and ATOM tokens ousted from Grayscale funds as Bitcoin dominance surges
Grayscale, the world’s major crypto-focused asset manager, took severe measures in the recent quarterly rebalancing and ejected ADA and atom of Cardano and cosmos from its funds. This decision is a retroactive action following the industry’s underlying factors, such as bad results and a strategic shift among virtual currencies. Grayscale index fund asset allocation changes…
Prisma Finance Implements Risk Mitigation Efforts for Protocol Revival
finance-hacker-apology-stolen-funds/” target=”_blank” rel=”noopener”>Prisma Finance, an exemplary platform for decentralized finance (DeFi), has launched its protocol with DAO’s full backing since its inception. The action was taken after the spotlight on the same platform after obtaining an anomaly of $11.6 million, which resulted in the temporary suspension of operation. Institutionalization is one of the responsibilities given…
Turmoil in Helldivers 2 Community: Rift Emerges Over Malevelon Creek Victory
The controversies of Helldivers 2 arose after the long and tough liberation of Malevelon Creek with much effort afforded. The triumphant referendum that was said would bring democracy and unity now splits players with contradictions. At the heart of the story lies the struggle between the Malevelon Creek veterans, who are known as ‘Creekers,’ and…
Sony Bank Launches Stablecoin Pilot Project on Polygon Blockchain
Sony Bank, a banking division of the Japanese entertainment and gaming conglomerate, has begun a pilot to make its own stablecoin linked to fiat currency, Nikkei reported. The experiment is set to occur on the polygon blockchain. Sony’s Stablecoin Experiment on polygon The report statement asserts that Sony is exploring stablecoins to drive the firm’s…
Canadian Regulatory Licence Secured By Coinbase
Coinbase, a huge crypto based company from the United States, has just made a shocking development in Canada. They’ve just secured a special license. This license is a great step in their growth and shows they’re serious about following the rules, especially when there’s a lot of attention on regulations back home. Getting the green…
PayPal Advances in Crypto with PYUSD Stablecoin for Zero-Fee International Transfers
PayPal, which is based in California, the well-known Silicon Valley, is going to aim at widening news.bitcoin.com/paypal-integrates-pyusd-for-international-transfers-on-xoom/” rel=”nofollow noopener” target=”_blank”>its PYUSD crypto application among its US customers. As a result, it will become possible to use this currency for cross-border money transfers, as well. Now through Paypal, individuals will can pay through Xoom since this…
GSR Markets has Won the License to Run a Major Payment Institution in Singapore.
The indirect consequence of cryptocurrency to the finance industry of Singapore has come to be the obtaining of an MPI license from the Monetary Authority of Singapore (MAS) by GSR Markets, the subsidiary of global crypto market maker GSR. This happened at the end of April 1. This milestone demonstrates GSR Market as the first…
Wormhole’s 2022 hacker was briefly eligible for its airdrop
The hacker behind the huge $320 million hack on wormhole bridge in 2022 was briefly added to a list of eligible users for its W token airdrop. In an April 4 post by pseudonymous researcher Pland on X (formerly known as Twitter), the team had forgotten to remove wallets tied to some wallet addresses connected…