Tether’s USDT stablecoin has achieved a significant milestone, surpassing $1 billion in circulating supply on The Open Network (TON), according to data from crypto research firm Token Terminal. This highlights USDT’s continued dominance in the market of US Dollar-backed stablecoins and reflects TON’s increasing popularity. USDT is frequently utilized on Telegram Mini Apps, which run…
In a major step to boost its influence in Latin America, Circle, a leading stablecoin operator, has extended its USDC stablecoin services to Brazil and Mexico. This expansion allows users in both countries to settle payments directly in USDC, facilitating seamless conversions between USDC and local currencies—Brazilian reais and Mexican pesos—thus streamlining cross-border transactions. By…
The winds of change swept through the cryptocurrency markets in Asian trading hours, with Bitcoin (BTC) leading a charge downward, erasing the gains made earlier in the week. This article delves into the reasons behind this price dip, explores the potential impact of a looming distribution from a defunct exchange, and examines contrasting long-term outlooks…
The digital asset industry is on the cusp of extraordinary growth, as highlighted by a recent report from investment bank Architect Partners. This surge signals a dramatic shift from the industry’s state just two years ago, underscoring the strides cryptocurrency has made in establishing itself as a formidable force in the financial world. The report…
In a notable advancement for the cryptocurrency sector, Hawaii has officially exempted crypto firms from needing a Money Transmitter License (MTL) to operate within the state. This decision follows the conclusion of the Digital Currency Innovation Lab (DCIL) project, a collaborative research initiative launched in 2020 to explore Hawaii’s digital currency landscape and evaluate the…
Sony is set to relaunch the crypto exchange Whalefin, which it acquired from crypto lender Amber Group in August 2023. The acquisition was first reported by Wu Blockchain and later confirmed by The Block. Whalefin, originally known as DeCurret, has been rebranded as S.BLOX as of Monday. The acquisition was facilitated through Quetta Web, a…
As we enter July 2024, the cryptocurrency market is recovering from a volatile June, during which Bitcoin, the largest cryptocurrency by market capitalization, experienced a significant decline. Known for its volatility, Bitcoin’s recent performance has left investors and analysts questioning whether July will bring the stability the crypto market desperately needs. A Turbulent June June…
Investing in cryptocurrency often comes with the excitement of new opportunities. However, it’s crucial to remember that asset prices don’t always reflect their true value. Although the efficient-market hypothesis suggests that prices incorporate all available information, history frequently shows that markets can be inefficient and irrational. The Limits of the Efficient-Market Hypothesis Consider the COVID-19…
A significant phishing scam has targeted a MakerDAO governance delegate, resulting in the loss of $11 million in Aave Ethereum (aEthMK) and Pendle USDe tokens. This delegate, who plays a crucial role in MakerDAO’s decision-making process, was deceived into signing multiple phishing signatures. The Incident The scam was detected by Scam Sniffer in the early…
Jeremy Allaire, the co-founder and CEO of Circle, the company behind USDC, the world’s second-largest stablecoin, exudes optimism about cryptocurrency’s future. This enthusiasm isn’t a passing phase for Allaire, a seasoned veteran of the crypto space who has observed Bitcoin’s evolution since its inception. He believes that the current moment is the most promising he’s…
In a significant move, the North Dakota Department of Financial Institutions has revoked Binance US’s money transmitter license, citing the company’s failure to comply with state laws and the ongoing legal issues of its founder, Changpeng Zhao. This decision deals a major blow to the cryptocurrency exchange’s operations within the United States. Non-Compliance with North…
The cryptocurrency market has experienced a notable surge in AI-related tokens this week, reflecting the excitement surrounding Nvidia’s recent ascendancy. Fetch.ai (FET) emerged as the leader, with its value soaring by an impressive 23% in the last 24 hours. This surge coincides with Nvidia’s historic rise to the top, overtaking Microsoft as the world’s most…