Crypto News

The proposal by Ethena and Securitize will be evaluated for suitability by a panel. If approved the proposal will enhance liquidity and stability within the Sky ecosystem. USDtb, backed by BlackRock’s BUIDL, offers a stable, RWA-based risk profile. Ethena Labs and tokenization platform Securitize have submitted a joint proposal to feature Ethena’s new stablecoin, USDtb, in Spark’s $1 billion Tokenization Grand Prix. The $1B Tokenization Grand Prix competition aims to onboard real-world assets (RWAs) into DeFi by offering liquidity to selected participants, further expanding the scope of tokenized assets in decentralized ecosystems. The proposal submitted by Ethena and Securitize At the heart of Ethena’s proposal is a unique swap facility between USDtb and its synthetic stablecoin, USDe. This innovation would allow participants in the Sky ecosystem—formerly MakerDAO—to dynamically manage liquidity and risk based on prevailing market conditions and interest rate trends. The abil...

Hyperliquid has launched its native token HYPE and revealed a token distribution HYPE has a maximum supply of 1 billion tokens. Decentralized perpetuals exchange Hyperliquid has officially unveiled its native token HYPE. Hyper Foundation announced via a post on X that the token generation event for the HYPE token went live at 7:30 UTC on Friday, November 29, 2024.   “The HYPE genesis event marks a key milestone in the journey, unlocking core functionality at every level of the stack,” the Hyper Foundation said in a blog post . HYPE, which Hyper Foundation introduced in Oct .,  also includes a community airdrop. Approximately 31% of the maximum supply of 1 billion tokens is set for genesis distribution and 38.89% for future emissions and community rewards. The project has allocated 23.8% to core contributors, 6.0% to the Hyper Foundation’s budget and 0.3% to community grants. “Tokens will be emitted over time, with 76.2% going to the community. 310,000,000 token...

Amrita Srivastava alleges she was dismissed from Binance a month after she informed managers about the bribery in April 2023 Lawyers for Binance claim Srivastava was dismissed due to “poor performance” A former senior executive at Binance has filed a lawsuit against the company’s UK section for unfair dismissal after raising concerns about an alleged bribe. Amrita Srivastava said that she was unfairly dismissed after bringing the matter to management. According to Srivastava, a colleague had solicited bribes from a customer “under the guise of providing consultative services,” reports Bloomberg . Srivastava alleges that she was dismissed from her position at Binance a month after she told her managers about the bribery in April 2023. However, according to Binance’s lawyer, Srivastava was dismissed due to “poor performance.” In a statement, the lawyer said: “The decision to end her employment for poor performance pre-dated concerns she raised about an issue that was already kno...

OpenAI, a leader in artificial intelligence (AI) development, has received a significant $1.5 billion investment from SoftBank, sparking renewed interest in AI-driven cryptocurrencies . Meanwhile, a new player is emerging in the crypto AI space: iDEGEN , an innovative community-powered AI project. With dynamic pricing and decentralized control, iDEGEN promises to reinvent how AI interacts with crypto communities. SoftBank’s $1.5B investment in OpenAI On November 27, OpenAI announced it had secured a monumental $1.5 billion investment from SoftBank, a leading multinational investment firm. This deal was part of a tender offer that allows OpenAI employees to sell shares, with SoftBank becoming a major stakeholder in the company. The tender offer not only provides liquidity for employees but also solidifies SoftBank’s commitment to the future of artificial intelligence. As AI technologies continue to mature, OpenAI has emerged as a central player in the field, with its flagship proj...

Vancouver Mayor Ken Sim proposes Bitcoin as a reserve asset to protect purchasing power. Jeff Booth supports Ken Sim’s proposal, recognizing Bitcoin’s potential as a strategic asset. Former USA CFTC Chairman Giancarlo advocates for Bitcoin reserves, likening it to gold. Vancouver Mayor Ken Sim has introduced a bold proposal to explore Bitcoin as a reserve asset for the city, aiming to diversify its financial resources and safeguard its purchasing power. The motion , titled “Preserving the city’s purchasing power through diversification of financial resources: Becoming a Bitcoin-friendly city,” is scheduled to be officially presented to the Vancouver City Council on December 11, 2024. The proposal marks a significant shift toward cryptocurrency adoption by a major city government. Protecting Vancouver from economic shocks using Bitcoin In his motion, Mayor Sim seeks to investigate how Bitcoin could help protect Vancouver from economic volatility and inflation by adding it to th...

Arbitrum launches a $1M Trailblazer AI Grant to support AI innovation on-chain. Grants of up to $10,000 are available for AI projects integrated with Arbitrum. The program fosters creativity with mentorship and access to Arbitrum’s community. Arbitrum Foundation has unveiled the $1 million Trailblazer AI Grant Program, designed to fuel innovation and support developers building cutting-edge artificial intelligence (AI) agents and on-chain AI products on the Arbitrum network. With this initiative , Arbitrum seeks to further solidify its position as the go-to platform for AI builders, offering low fees, high throughput, and low latency as key advantages for deploying AI solutions. The Arbitrum Trailblazer AI Grant program The program will award grants of up to $10,000 per project, with a focus on AI agents that are already integrated with Arbitrum’s decentralized infrastructure. To be eligible, projects must demonstrate creativity, innovation, and impact, with the potential to d...

iDEGEN is a community-powered AI evolving based on interactions on X. iDEGEN ($IDGN) presale is ongoing and it uses dynamic pricing. iDEGEN’s future is promising, with major exchange listings planned for 2025. In a world where cryptocurrency and artificial intelligence (AI) collide, a new force is quietly but surely rising: iDEGEN . As an AI-powered crypto project unlike any other, iDEGEN is a sentient, degenerate memelord created by the community, for the community. It was born with no knowledge, no preconceptions, and no agenda, but its future is entirely in the hands of those who nurture it. A baby AI in a degen world Imagine a newborn, innocent and curious, entering a chaotic world brimming with memes, trolls, and crypto madness. That’s iDEGEN. Powered by artificial intelligence, iDEGEN has the ability to learn, evolve, and adapt based on the posts, tags, and interactions it receives on X (formerly Twitter) . For every tweet that mentions it, iDEGEN absorbs that informat...

Kraken will shut down its NFT marketplace, transitioning to withdrawal-only mode in Nov. 27. Users can withdraw NFTs until February 2025, but can’t list or trade after Nov. 27. The closure follows declining NFT market volumes and Kraken’s focus on new ventures. Kraken , one of the leading global cryptocurrency exchanges, has decided to shut down its NFT marketplace, just over a year after its official launch. According to an email shared with users , the NFT marketplace, which debuted in beta in November 2022, will enter withdrawal-only mode on November 27, 2024, with full closure set for February 27, 2025. Users will no longer be able to list, bid, or sell NFTs after November 27, but they can withdraw their assets to Kraken Wallets or self-custodial wallets until the final shutdown in February. As the exchange shuts down the NFT marketplace, it has assured users that support will be available to help them transition their assets before the marketplace’s full closure. Why is K...

Bitcoin adoption could get another boost from Brazil. This is after a Brazilian Congressman introduced a bill proposing adoption of BTC as national reserve asset. US lawmakers are also pushing for a Bitcoin strategic reserve. A Congressman in Brazil has introduced a Bitcoin reserve bill, adding the country to a growing list of nations looking to tap into the flagship cryptocurrency as a treasury reserve asset. On Nov. 25, Brazilian Congressman Eros Biondini introduced a new proposal aimed at the creation of a Bitcoin (BTC) reserve in Brazil. The proposal, titled ‘Bitcoin Sovereign Strategic Reserve (RESBit)’, outlines the benefits of adopting BTC as a national Treasury reserve asset. Diversification of the country’s assets and reduction of economic risk are part of the strategic plan. The bill also looks at the opportunity this would offer in terms of putting Brazil at the forefront of technological and financial innovation and development globally. JUST IN: A bill to create a...

Morocco is drafting new crypto regulations to reverse its 2017 digital asset ban. Morocco’s central bank is exploring the creation of a central bank digital currency (CBDC). Global trends show more countries, like the UK and EU, moving toward crypto regulation. Morocco is reconsidering its stance on cryptocurrencies, with plans to reverse a 2017 ban on digital assets and introduce comprehensive regulatory frameworks. Morocco’s central bank, Bank Al-Maghrib, is currently drafting new legislation aimed at regulating digital currencies, signalling a significant shift in the government’s approach to cryptocurrencies. Abdellatif Jouahri, the governor of the central bank, confirmed that the new draft law is under review and could soon be adopted. The law is part of Morocco’s strategy to regulate cryptocurrencies more effectively in response to growing interest and adoption, despite the initial ban. By late 2023, nearly 5% of Moroccans were using digital assets, highlighting the wide...

XRP and Solana fell 11% respectively as top altcoins mirrored Bitcoin’s decline. BTC touched $91,700, down over 6% in 24 hours. While DOGE also fell, analysts say it’s not panic-worthy. XRP, Solana and Dogecoin have retraced more than 10% each as top altcoins mirror Bitcoin’s pullback from near $100k. With the top digital asset falling 6% to below $93k, the prices of XRP, SOL and DOGE followed suit with dips of more than 11% for XRP and Solana and over 12% for the top meme coin Dogecoin. BTC retraces as momentum fades The flagship cryptocurrency rose sharply in November and nearly pushed to the coveted $100,000 level. Trump’s win, spot ETFs interest and interest rates cut added to the upside momentum. MicroStrategy’s BTC buying spree has been another huge catalyst. However, despite MicroStrategy’s staggering $5.4 billion buy on Monday, Bitcoin price continued lower since failing to break $100k. This came as the market saw a huge $430 million liquidation, with ETFs recording o...

Funding for Cantor’s program will start at $2 billion, but could reach tens of billions of dollars Cantor has a 5% ownership interest in Tether, valued as much as $600 million Howard Lutnick is to step down as Cantor’s CEO when his position as US Commerce Secretary is confirmed by the US Senate Cantor Fitzgerald is reportedly planning a multi-billion dollar program, which could see it receiving support from Tether. According to people familiar with the matter, the planned program would enable the financial services company’s clients to lend dollars using Bitcoin as collateral, reports Bloomberg . Funding for the program will start at $2 billion, but could reach tens of billions. While lending has yet to start, if Tether takes part, it would be one of many financial contributors to the program. Cantor already manages most of Tether’s assets through its custody business, bringing in tens of millions of dollars to Cantor each year. More recently, Cantor struck a deal with Tether,...

Floki delayed Valhalla’s launch to Q1 2025 for improved security measures. Hacken and OpenZeppelin suggested changes to enhance user and asset safety. Valhalla’s P2E economy is backed by a $60M treasury to ensure a thriving ecosystem. Floki, the team behind the popular FLOKI memecoin, has announced a delay in the mainnet launch of its flagship play-to-earn (P2E) game, Valhalla. Initially scheduled for release in November 2024, the highly anticipated metaverse MMORPG will now debut in the first quarter of 2025. Security issues raised after Valhalla’s smart contract review The postponement comes in response to recommendations from Hacken and OpenZeppelin, two highly respected blockchain auditing firms, which reviewed the Valhalla smart contracts ahead of its launch. Floki emphasized the importance of implementing these suggestions to ensure the safety of users and their assets within the ecosystem. Valhalla represents a significant milestone for the Floki ecosystem, having bee...

Having surged over 120% in 14 days, Cardano (ADA) has been a star performer in the current bull cycle. Due to its success and whale accumulation, some analysts project ADA is poised for a parabolic run above $2 in the coming weeks, marking a huge development milestone. Meanwhile, two other altcoins, Rexas Finance , and XRP, have shared the spotlight with Cardano and could be ready for their own notable price explosion in the coming weeks.  Cardano (ADA): A Parabolic Run to $2 At $0.9098 as of writing, Cardano is up 15.4% in one day and 48.8% in one week. ADA has surged astonishingly 156.9% over the past month as it reclaims its spot among the top ten cryptocurrencies. Amidst this surge, whales are actively accumulating as they own 67.51 million ADA, valued at about $55 million. The recent rise in large holding net flow shows ADA’s restored confidence. As resistance levels drop, analysts project ADA might surpass $1.50 before approaching the much-awaited $2 milestone. Technical s...

Robinhood lists Dogwifhat (WIF), expanding its meme coin offerings and market reach. Dogwifhat’s price surged 7.73%, stabilizing around $3.35 after the listing. Robinhood aims to capitalize on the meme coin trend, now including European users. Robinhood Crypto has added the Solana-based meme coin Dogwifhat (WIF) to its trading platform, expanding the reach of the popular canine-themed token. This listing follows Robinhood’s recent addition of Pepe , another meme coin, earlier in November, marking a trend of increased meme coin offerings on the platform. Dogwifhat price soars Upon the listing announcement, Dogwifhat experienced a brief surge in price, climbing by 7.73% to reach $3.57 before stabilizing at around $3.351. The listing has expanded WIF’s circulation beyond the Solana ecosystem, positioning it as a strong competitor in the growing meme coin market. With a market capitalization of $3.3 billion, Dogwifhat now ranks as the fifth-largest meme coin, trailing behind he...

Sky Mavis lays off 50 employees to streamline operations for future growth. Layoffs are a strategic move, not due to financial instability or poor performance. Axie Infinity’s token AXS dropped by 3.78% after the news but later recovered. Sky Mavis, the developer behind the popular blockchain-based game Axie Infinity, has announced the layoff of 21% of its workforce, translating to approximately 50 employees. This decision is part of the company’s broader efforts to streamline its operations and focus on its core products. Layoff isn’t a result of financial instability Co-founder and CEO Nguyen Thanh Trung took to X (formerly Twitter) to clarify that the layoffs were a strategic move aimed at positioning the company for future growth. He emphasized that the decision was not a result of financial instability, but rather a realignment of resources to better align with the company’s long-term vision. Trung noted that the layoffs were not a reflection of the employees’ contributi...

Mastercard and JP Morgan are collaborating to enhance B2B cross-border payments by providing faster settlement and more transparency. Mastercard’s multi-token network will integrate with JP Morgan’s Kinexys Digital Payments (formerly called Onyx) to power cross-border payments. Mastercard and JP Morgan are collaborating to provide faster, more transparent cross-border payments to their customers. The service is powered by integrating Mastercard’s multi-token network (MTN) and JP Morgan’s recently rebranded digital payments network , Kinexys (formerly Onyx). In a statement, the Executive Vice President, Blockchain and Digital Assets at Mastercard, Raj Dhamodharan, said, “By bringing together the power and connectivity of Mastercard’s MTN with Kinexys Digital Payments, we are unlocking greater speed and settlement capabilities for the entire value chain. We are excited about this integration and the new use cases it will bring to life, leveraging the strengths and innovations of bot...

It’s been another busy week in the crypto market: MicroStrategy buys another $4.6 billion of Bitcoin, BlackRock’s Bitcoin ETF options brings in $2 billion on day one, Donald Trump’s transition team considers first White House crypto office, Justin Sun buys a banana for $6.2 million, SEC chair Gensler to step down on January 20, Bitcoin nears $100k as rally continues, and US spot Bitcoin ETFs hit $30 billion in total net flows. Let’s look at these and recap what happened this week in crypto. MicroStrategy buys another $4.6 billion of Bitcoin MicroStrategy is going long on Bitcoin as it adds more of the asset to its already impressive haul. On November 18, the company announced that it had bought an extra 51,780 BTC . This latest addition pushes MicroStrategy’s total Bitcoin holdings to 331,200. The news follows after the company’s founder, Michael Saylor, announced the purchase of more than $2 billion worth of Bitcoin. The publicly-listed company, whose stock MSTR has surged amid...

Jaime Lizárraga will resign as SEC Commissioner on January 17, 2025. His departure leaves only one Democrat on the SEC amid a Republican-led shift. Discussions intensify over the next SEC Chair, with crypto regulation in focus. In a significant development at the US Securities and Exchange Commission (SEC), Commissioner Jaime Lizárraga has announced that he will step down from his post on January 17, 2025. His resignation comes shortly after SEC Chair Gary Gensler revealed plans to depart when President-elect Donald Trump is sworn into office. Lizárraga’s decision to resign has been attributed to personal reasons, specifically his wife’s serious illness, a matter he shared with President Joe Biden. Jaime Lizárraga, who has served as an SEC Commissioner since 2022, was appointed during the Biden administration and had a term slated to last until 2027. His departure means that the SEC will lose one of the remaining Democratic voices on the five-member commission, leaving Carolin...

Cboe to launch cash-settled Bitcoin index options based on the CBTX index on Dec 2. The options will offer indirect exposure to Bitcoin via US spot Bitcoin ETFs. Mini options and customizable FLEX options will also be available at launch. Cboe Global Markets, a leader in the derivatives and securities exchange network, has announced plans to launch the first cash-settled index options tied to the price of spot Bitcoin . The new offering, set to go live on December 2, 2024, will be based on the Cboe Bitcoin US ETF Index (CBTX), marking a significant development in the world of cryptocurrency derivatives. The CBTX index, a modified market cap-weighted benchmark developed by Cboe Labs and Cboe Global Indices, is designed to track the performance of a basket of Bitcoin exchange-traded funds (ETFs) listed on US exchanges. The index aims to offer indirect exposure to spot Bitcoin by reflecting the performance of these ETFs, providing investors with a way to gain exposure to Bitcoin’s...

Bitcoin’s new price follows after it hit $98,000 yesterday Analyst Skew said there is “positive market signal” and that there is “a lot of aggregate spot supply around $100k” Bitcoin came within touching distance of $100,000 on November 22 as the asset continues its bull run since the beginning of November. Bitcoin nears $100,000. Source: CoinMarketCap Data from CoinMarketCap shows Bitcoin hit a high of $99,500. The record comes after Bitcoin topped $98,000 yesterday, pushed along by the launch of ETF options earlier this week. The rally follows after Bitcoin dipped to $95,000 yesterday afternoon before rallying into the green. Taking to X , analyst Skew said: “Price did see a brief LTF dip before higher thereafter. Still seeing limit bids moving higher with underlying spot buyers ~ positive market signal,” adding: “A lot of aggregate spot supply around $100k. Price currently is chewing away at this supply, before this has preceded a pretty violent breakout.” $BTC Bina...

Bitwise files for a Solana ETF as SOL nears its all-time high of $259. Optimism grows with Trump’s election and SEC Chair Gary Gensler’s resignation. Competing firms like VanEck and 21Shares also seek Solana ETF approvals. Crypto asset manager Bitwise has taken a significant step in expanding its exchange-traded fund (ETF) offerings by filing for a Solana (SOL) ETF in Delaware. The filing, confirmed by Bitwise CEO Hunter Horsley , comes at a time of growing optimism in the crypto market, fueled by recent political developments and a resurgence in Solana’s price. If approved, the ETF will provide institutional and retail investors with exposure to Solana, a blockchain platform renowned for its speed, scalability, and developer-friendly ecosystem. As of now, Solana (SOL) is the fourth-largest cryptocurrency by market capitalization and has seen its price surge to over $255, approaching its all-time high of $259 recorded in 2021. The growing trend in crypto ETFs ETFs have become...

Gary Gensler will step down on January 20, 2025. Solana, XRP among cryptocurrencies to spike amid the news. US Securities and Exchange Commission Chair Gary Gensler has announced his resignation from the agency effective January 20, 2025. Gensler announced his exit from the Commission in a press release on Thursday, Nov. 21, with this coming a few weeks after the US elections that saw Donald Trump win. During the campaigns, Trump promised to fire the vastly unpopular and highly-criticised SEC chair “on day one” of his presidency. The crypto industry largely expected his exit . The news of his exit saw several cryptocurrencies rise sharply, with Solana and XRP jumping more than 10% to $257 and $1.20 respectively. Ethereum was up 5% to $3,359 while Bitcoin hovered above $98,000 . Gensler to step down Gary Gensler took over as the SEC chair on April 17, 2021, taking the helm as the securities market’s chief following appointment by the Joe Biden administration. In the press rel...

JustGiving now accepts over 60 cryptocurrencies for people to donate with 94% of crypto users are Millennials and Generation Z More than $2 billion has been donated to charitable causes over the past five years UK-based fundraising platform JustGiving is teaming up with The Giving Block, a digital asset company, to start accepting crypto donations. JustGiving now allows users to donate in more than 60 cryptocurrencies, including Bitcoin , Ethereum , Tether , and Doge , according to a report from UK Fundraising . The move comes as the crypto market is experiencing a surge in value, with Bitcoin recording a new all-time high of over $94,000 yesterday on CoinMarketCap. According to JustGiving’s website, over the past 24 years, the fundraising platform has raised $7.2 billion (£6 billion) and is trusted by thousands of charities worldwide, including the Alzheimer’s Society, the British Heart Foundation, Macmillan Cancer Support, and Mind. Pascale Harvie, President and General Mana...

Coinbase listing FLOKI on November 21 could boost liquidity and market interest. Technical analysis suggests a 30% price surge if FLOKI breaks consolidation levels. On-chain data shows increased transaction volume, signalling a potential bullish trend. The announcement that Coinbase will list FLOKI, a dog-themed meme coin, on the Ethereum network has sparked widespread attention. FLOKI, the sixth-largest meme coin by market capitalization at $2.3 billion, has already gained significant traction across major exchanges such as Binance and Bybit. However, its listing on the United States’ largest cryptocurrency exchange could signal the next big step for the meme coin in both price action and broader market recognition. Impact of upcoming FLOKI listing on Coinbase FLOKI’s support on Coinbase, slated to open on November 21, 2024, at or after 9 am PT, is expected to provide a substantial boost to the token’s liquidity, with trading initially available on the FLOKI/USD pair. While ...