The pool, structured under Luxembourg’s securitization regulations with a debt ceiling of $6 million at the start, lets accredited investors deposit the USDC stablecoin and will provide capital to Karmen, which specializes in providing instantaneous loans and working capital to small and medium-sized digital enterprises in France, according to a press release. Source
The firm announced plans to issue a token in December, saying it would be released “in the first half of 2024.” In a post on X, LayerZero developers referred to the operation as “snapshot #1,” indicating that there will be a series of airdrops. Source
“The company is considering a wide range of alternatives to maximize shareholder value, including, but not limited to, the sale of all or part of the Company, or another strategic transaction involving some, or all of, the assets of the Company,” the miner said in a press release on Thursday. Source
With no plans for allowing cryptocurrency trading on the platform, the company’s goal is to leverage distributed ledger technology, or DLT, to connect buyers and sellers in a more seamless way. They also plan to partner with sovereign wealth funds, pension funds and traditional market makers to facilitate trading tokenized assets. Source
Paragraph founder Colin Armstrong says that his product differed from Mirror, at least initially, in that it tried to appeal more to a Web2 audience. Armstrong, who has written for tech publications in addition to working as an engineer at Google and Coinbase, says he also focused his product more on referral programs and other features to help authors widen their distribution. Mirror, meanwhile, managed to develop a stronger brand and design language, said Armstrong. Source
We are the first company to do this with PayPal, and it was a long process to get them comfortable,” Soto-Wright said in an interview. “We process billions of dollars on debit and credit cards in terms of cryptocurrency, and we think this is going to be a big step up for us in terms of helping us reach more customers, people that may have had their card declined from one of their banks. Nobody’s fault; it’s just the banks; banks sometimes reject crypto companies.” Source
The latest in blockchain tech upgrades, funding announcements and deals. For the period of May 2-8. Source
Gambaryan, who is a U.S. citizen and Binance’s head of financial compliance, was detained in Nigeria alongside British-Kenyan regional manager for Africa, Nadeem Anjarwalla, in February. The company, alongside the executives, was given anti-money laundering charges as well as tax evasion charges from Nigerian authorities almost a month later. Source
Bitcoin stabilized around the $58,000 mark after the U.S. Federal Reserve kept the benchmark interest rate unchanged on Wednesday. Chair Powell said the economy is too strong to cut rates while ruling out increases despite disappointing inflation figures. Having lost the $60,000 support level late on Tuesday, BTC fell as low as $56,500 yesterday, with U.S. spot ETFs seeing outflows of $563.7 million, the highest daily figure since the funds listed in January. At the time of writing bitcoin was priced at $58,282, up 1.4% over 24 hours. The digital…
As is the case with all emerging asset classes with a small market cap, the cryptocurrency is more likely to experience higher volatility due to new capital flows, the note said. “However, as the asset class matures and its total market cap grows, the inflow of capital is expected to have a smaller impact because it will be flowing into a larger capital base.” Source