Author: bitcrypto.io

Picture a world where central banks may find themselves intervening in cryptocurrency markets. We came close to witnessing such a scenario with the downfall of Silicon Valley Bank (SVB) last year. The collapse of SVB sent shockwaves through the stablecoin operator Circle, which had a staggering $3.3 billion uninsured with SVB. This crisis caused Circle’s USDC—a token renowned for its stability—to lose its peg to the dollar until the Federal Reserve intervened to safeguard the bank’s deposits, averting a larger crisis. As the crypto market bounces back from its 2022 low, stablecoins are attracting considerable attention. These tokens, crafted by…

Galaxis is preparing for this month’s token launch on Bybit, with the first phase commencing through the IDO. To further enhance this launch, Galaxis has announced a substantial $1,000,000 Community Creator and Community Member Grant Program. This initiative incentivizes both community creators and members for active engagement in the Galaxis ecosystem. Galaxis, known for its partnerships with Mike Tyson, Steve Aoki, and the NBA, raises awareness of the Web3 creator movement by offering a platform for creators to benefit from their work. The platform’s distinctive feature is its customizable membership cards. These cards do more than just act as digital…

On May 1st, Casio, a Japanese electronics powerhouse, marked its 50th anniversary by launching a unique NFT collection. This launch not only celebrates half a century of innovation but also signifies Casio’s entry into the burgeoning NFT market. Collaborating with Astar zkEVM to utilize Ethereum’s Layer-2 scaling solutions, Casio aims to blend its rich heritage with modern digital artistry. A Rich History of Innovation Founded in 1974, Casio has evolved from a manufacturer of consumer electronics like calculators and digital watches to a renowned global innovator. The Tokyo-based company has expanded its product line over the years to include high-end…

PayPal has partnered with MoonPay to introduce a new fiat-to-crypto transaction service for US customers, according to a press release published today by MoonPay. The collaboration marks MoonPay as the first on- and off-ramp provider to incorporate PayPal’s payment system, enhancing the ease of purchasing crypto. With the new integration, US-based PayPal users can now utilize their accounts to buy crypto directly on MoonPay, using PayPal Balance, bank withdrawals, or debit cards. This integration also aims to eliminate the need for manual data entry, simplifying the process for existing PayPal customers. Ivan Soto-Wright, MoonPay’s co-founder and CEO, said the partnership…

Tether Holdings has unveiled an unprecedented achievement, reporting a staggering $4.52 billion in net profit during the first quarter of 2024. This milestone marks a significant leap for the issuer of the leading stablecoin, Tether (USDT), renowned for its dominance in market capitalization. What’s more, in a noteworthy move, Tether has opted to disclose its net equity for the very first time. The figures reveal a substantial surge, escalating from $7.01 billion in December 2023 to an impressive $11.37 billion by March 31. A meticulous examination of Tether’s Q1 2024 attestation report indicates that approximately $1 billion of the operating…

To foster a safer environment within the flourishing $50 billion memecoin sector, Fantom Foundation, a leading layer-1 blockchain network, has unveiled plans to allocate a substantial $6.5 million prize pool in its native FTM token. This initiative, spearheaded by CEO Michael Kong, aims to incentivize developers who adhere to a set of both technical and non-technical standards designed to mitigate scams and rug pulls. With platforms like Solana and Ethereum layer-2 Base dominating recent memecoin trading frenzies, Fantom aims to attract memecoin traders to its network. Kong’s announcement of a 10 million FTM prize pool, equivalent to $6.5 million, during…

Standard Chartered Bank has warned that Bitcoin’s recent drop below the $60,000 mark could be the beginning of more significant losses in the near future. Geoffrey Kendrick, head of forex and digital assets research at Standard Chartered Bank, expressed concerns about the leading cryptocurrency’s price trajectory, stating that the breach of the $60,000 support level opens the path for a potential decline to the $50,000 to $52,000 range. Kendrick attributed the downward pressure on Bitcoin to a combination of factors. Firstly, he pointed out that there have been five consecutive days of outflows from U.S. spot Bitcoin exchange-traded funds (ETFs).…

One of the most interesting aspects of blockchain is that everything is public. All transactions, wallets and portfolios are entirely accessible to anyone, allowing for an unprecedented amount of insight into a financial asset class. The uses of the data can range from monitoring overall trading activity and flows to seeing what the largest wallets and firms are doing with their positions. Arkham Intelligence is a blockchain analytics platform particularly interested in the second application. It cross-references financial disclosures by firms and individuals with on-chain activity to match up entities with specific wallet addresses. With Arkham’s insights, anyone can see how the…

Justin Sun, the CEO of Tron, has been quite vocal about his support for meme coins and their impact on the crypto landscape. At the Token 2049 conference, Justin Sun expressed his admiration for meme coins, particularly those adorned with various animal logos. These coins include Dogecoin, Shiba Inu, and Floki. Sun believes that meme coins play a pivotal role in distinguishing the crypto industry from traditional finance. Their community-driven nature and fair launches contribute to their success. Despite recent market fluctuations, Sun maintains an optimistic outlook on meme coins, emphasizing their resilience and community involvement. Challenges of Launching Meme…

Sui has teamed up with Google Cloud to expedite the integration of Web3 and AI, with a particular focus on leveraging zkLogin technology to bridge the gap between web2 and decentralized web3 applications. The Layer 1 blockchain Sui made an announcement today regarding its collaboration with Google Cloud, aiming to enhance Web3 applications by bolstering security, scalability, and incorporating AI-driven tools. Google Cloud, in its recent blog post, disclosed that it has integrated Sui blockchain data into its BigQuery public datasets. This integration is poised to empower developers with robust analytics tools, thereby enabling them to derive groundbreaking insights and…