Day: December 29, 2023

Avalanche Foundation Expands Culture Catalyst Initiative to Embrace Meme Coins

For the planned investments in selected meme projects on the Avalanche network, the non-profit has outlined specific requirements for eligibility in the program.  Avalanche Foundation, the non-profit group overseeing the development of the Avalanche blockchain, has announced its intention to allocate a portion of the Culture Catalyst Funds to support meme coins. According to a statement on X (formerly Twitter), the move is aimed at acknowledging the cultural and entertaining aspects symbolized by meme coins, with the foundation planning to acquire select Avalanche-based meme coins to build a curated collection.…

Here’s The Reason The Solana price Fell 8% To $98

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The Solana price growth for the past few months seems to have hit a barrier just above the $120 price level. The price of Solana (SOL) fell around 8% on Thursday to about $98, showing the sheer volatile nature of the crypto market.  As a result, Solana slipped below BNB in market cap rankings, as the latter rallied 9% to take back the fourth spot. According to on-chain data, there’s been an increase in transfers of what looks like profit-taking from Solana whales.  Large Whale Sells $38.2 Million in SOL…

FTX Offers $16,871 Bitcoin Price for Creditor Claims, Users Reject

If the court approves the proposed plans from debtors, the FTX creditors could lose a huge sum of money considering the rally in crypto market this year. In a recent filing made on December 27 in the United States Bankruptcy Court for the District of Delaware, FTX debtors have unveiled estimates of the US Dollar value assigned to cryptocurrency prices and foreign currency for customers holding claims with the now-defunct exchange. The debtors expressed their intention to establish a “fair and reasonable value” for user claims based on digital assets…

Can these coins replicate Solana’s 1025% surge in 2024?

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Despite Solana’s recent success with 1,025% annual growth, other cryptocurrencies like Polygon, Celestia, and NuggetRush are positioned for more growth in 2024. NuggetRush, with its defi meme coin platform, is attracting attention through a play-to-earn game and NFT collections. Polygon’s close ties to Bitcoin, projected growth, and Celestia’s impressive surge indicate bullish trends. Despite falling after FTX’s crash, Solana (SOL) recently made a huge comeback – up over 1025%…

Ethereum Founder Vitalik Buterin Says Original Web3 Vision Has Been Lost

In a new blog post, Vitalik Buterin noted the loss of the original web3 values, the ways that the community can get back on track, and the progress that Ethereum has made so far. Vitalik Buterin has always been a big personality. As one of the founders of Ethereum, he has been a major figure within the crypto world for over a decade. He is also known for being outspoken about his views, which has sometimes led to him feuding with others. But his most recent blog post, published by…

Crypto Exchange Adds 40M Users in 2023 Despite Regulatory Hurdles

Binance reported more than $1.2 billion in assets under custody for more than 170 million users in its 2023 performance report. Leading cryptocurrency exchange by daily traded volume and registered users, Binance Holdings Ltd., has continued to build the necessary infrastructure and products to enable the next phase of web3 mass adoption. Despite the former Chief Executive Officer Changpeng Zhao (CZ) being forcefully ousted by the United States government, Binance has demonstrated that it was built to stay and facilitate the mainstream adoption of Bitcoin and digital assets. Moreover, the…

Monex Group to Acquire Majority Stake in Canada-based 3iQ

The Tokyo-based Monex Group intends to further strengthen its digital asset offerings to institutional investors through the 3iQ acquisition. Monex Group Inc, a holding financial company based in Japan with operations around the world, will acquire Canada-based crypto asset manager 3iQ Digital Holdings Inc for an undisclosed amount. According to the announcement, 3iQ will collaborate with Coincheck Inc, a Japanese cryptocurrency exchange with different products in the market that was acquired by Monex Group back in 2018 for about $33.4 million, to bolster the digital asset offerings focused on institutional…

Hashdex Drops Ad Ahead of Its Spot Bitcoin ETF Approval

Asset management firm Hashdex has unveiled a new advertisement amid the US Securities and Exchange Commission’s (SEC) evaluation of applications for the listing of spot Bitcoin (BTC) tickers on US exchanges for exchange-traded funds (ETFs). The advertisement, shared on December 28 on X (formerly Twitter), features an interview setting from the 1980s, where the subject critiques the use of home computers for everyday tasks, drawing a parallel to the skepticism around emerging technologies. Besides, the release comes at a pivotal moment as the SEC weighs its decision on Bitcoin ETF…

India Names Binance among 9 Crypto Exchanges Violating Its AML Rules, Blocks Their URLs

Presently, India is working on a crypto regulatory framework that is scheduled to take effect in 2024. The framework is based on a joint recommendation of both the International Monetary Fund and the Financial Stability Board. The Indian government, through its Financial Intelligence Unit (FIU), has moved to block a total of 9 URLs belonging to various global crypto exchanges. The move is said to be in line with the government’s efforts to ensure that digital asset service providers comply with its Anti-Money Laundering regulations. In this regard, India has…

US Judge Sides with SEC in Ruling Against Do Kwon and Terraform Labs

The Terraform boss was arrested and imprisoned in Montenegro over falsified documents after being on the run to escape his fate as the alleged mastermind behind the collapse of the blockchain. On Thursday, December 28, a US judge ruled against Terraform Labs and its CEO Do Kwon for violating federal securities laws in the lawsuit with the SEC. The verdict comes following the collapse of the Terra (LUNA) blockchain in May 2022, leading to the depegging of its algorithmic stablecoin TerraUST from its 1:1 benchmark to the US dollar and…