Argentina has failed to identify one of the key individuals linked to the launch of Libra, the meme coin promoted by President Javier Milei on social media. Interpol Singapore was unable to pinpoint any individuals identified as Julian Peh, the CEO of KIP Protocol, who has ties to the Libra token. Libra Case Watch: Authorities […] Source CryptoX Portal
The H1 Crypto Landscape in Latin America report by Bitso found a surprising increase in XRP, Ripple’s digital asset, as part of Latam’s crypto portfolios. While bitcoin still accounts for more than half of the volumes held, XRP has dethroned ether to become the runner-up. Bitso’s Latam Crypto Report Shows XRP Picked up Steam Among […] Source CryptoX Portal
Altcoins added to their rally during late Tuesday U.S. afternoon hours after Treasury Secretary Scott Bessent suggested the Federal Reserve should consider a 50 basis point rate cut at its upcoming September meeting. “The real thing now to think about is should we get a 50 basis-point rate cut in September,” Bessent told Fox News. Bessent added that the Fed could have cut rates in June if it had been given accurate data, which he described as a “foundational issue” at the central bank. Markets had already about fully priced…
Key takeaways: Ether derivatives data shows weak demand for leveraged bullish positions. Corporations and TradFi favor independent layer-1 chains, challenging Ethereum’s dominance in decentralized finance. Ether (ETH) surged to $4,518 on Tuesday as traders showed a higher risk appetite following a modest 0.1% rise in US consumer inflation. Yet, beneath the surface, derivatives data suggests the rally’s strength may be overstated, particularly as some major companies are pursuing their own layer-1 strategies instead of building on Ethereum’s layer-2 ecosystem. Edit the caETH futures aggregate open interest, ETH. Source: CoinGlass The…
ATOM traded in a tight range over the past 24 hours, with price action dominated by institutional flows. Between Aug. 11 at 15:00 and Aug. 12 at 14:00, the token swung 4% between $4.65 and $4.47. Heavy selling from $4.65 to $4.45 on Aug. 11 gave way to strong buying the following morning, with volumes spiking to 1.93 million tokens. Resistance formed at $4.60, while repeated bounces from $4.47–$4.48 highlighted a firm support zone. The Cosmos ecosystem also got a boost from Coinbase’s listing of dYdX (COSMOSDYDX), which jumped from…
Crypto exchange Coinbase (COIN) said on Tuesday it is reviving its Stablecoin Bootstrap Fund, aiming to boost stablecoin liquidity on decentralized finance (DeFi) markets. The initiative will be managed by Coinbase Asset Management and begins with deployments on Aave, Morpho, Kamino and Jupiter, according to a blog post. The exchange first launched the program in 2019 to help protocols seed early trading pools for USDC stablecoin. That effort supported early platforms like Uniswap , Compound and dYdX and helped spearhead USDC in the DeFi ecosystem, which is still the most…
NEW YORK — Terraform Labs founder Do Kwon pleaded guilty to conspiracy to commit fraud and wire fraud Tuesday morning, three years after the dramatic collapse of the Terra/Luna stablecoin ecosystem. Wearing a canary yellow prison jumpsuit, the 33-year-old Korean national said he “knowingly engaged in a scheme to defraud and did in fact defraud” purchasers of the TerraUSD stablecoin. Judge Paul Engelmayer, who is overseeing the case, walked the Terra creator through the charges to establish the Kwon was indeed guilty of the allegations laid out in an earlier…
Stablecoin issuer Circle Internet Group, Inc. announced plans to roll out its own layer one (L1) blockchain, designed to use USDC as the fuel for transaction fees. Circle Debuts Plans for Arc, an EVM-Compatible L1 Using USDC Currently, Circle’s USDC stablecoin ranks as the second-largest fiat-backed crypto asset by market capitalization at $65.23 billion. On […] Source CryptoX Portal
Half of the top 20 exchange-traded funds (ETFs) in the United States are linked to digital assets, underscoring the sector’s growing appeal to investors. On Monday, ETF analyst Nate Geraci said more than 1,300 ETFs have launched since the start of 2024, and crypto-linked assets dominated the top 20 investment products in inflows. These include Bitcoin (BTC) and Ether (ETH) ETFs, funds tracking leveraged ETH positions and Strategy (MSTR) exposure products. Geraci shared data that the top four overall assets by inflows are crypto-related, including BlackRock’s iShares Bitcoin Trust ETF…
Circle, a publicly traded US company and the issuer of USDC stablecoin, said it will launch its own layer-1 (L1) blockchain compatible with the Ethereum Virtual Machine (EVM) later this year. The company released its second-quarter results on Tuesday and announced the introduction of Arc, a new network designed to offer an “enterprise-grade foundation” for stablecoin payments, foreign exchange and capital markets applications. Expected to launch in public testnet this fall, Circle’s Arc will feature USDC (USDC) as its native gas token, enabling users to pay transaction fees on the…