Tag: 126M

TON Steward Announces $126M Rescue Fund to Attract More Projects

The TON Foundation’s rescue fund will help projects experience liquidity problems amid the recent collapse of the crypto exchange FTX. The TON Blockchain platform, initially developed by social media giant Telegram, is now on a new journey in the crypto space. On Wednesday, November 30, the stewards of the TON network announced a new rescue fund with an initial commitment o $126 million. The TON network said that the fund will help projects experience liquidity problems amid the recent collapse of the crypto exchange FTX. The aim behind launching this…

How Crypto Twitter reacted to Kim Kardashian’s $1.26M SEC fine

The crypto community reacted with a mix of disbelief and amusement after reality star Kim Kardashian was fined for promoting the cryptocurrency EthereumMax (EMAX).  The United States Securities and Exchange Commission (SEC) fined Kardashian $1.26 million on Oct. 3, for “touting on social media” about the EMAX without disclosing she was paid $250,000 to post about it. Kardashian has neither admitted to nor denied the SEC’s allegations, but settled the charges and agreed to not promote any cryptocurrency assets until 2025. SEC chairman Gary Gensler tweeted the fine was a…

Investors Add To Their Bitcoin Positions, $126M In Net Inflows

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Bitcoin approaches a critical level of resistance as it was finally able to break its downside price action. The cryptocurrency stills face numerous headwinds if it wants to reclaim previous highs, but some clues point to potential short-term relief. Related Reading | Ethereum Single-Day Liquidations Reach Three-Year High As Price Breaks $1,900 At the time of writing, the benchmark cryptocurrency trades at $31,400 with a 5% profit in the last 24-hours and a 6% profit in the past week. This has been one of the best trading sessions for BTC’s price…

DFG piles $12.6M into Astar Network’s Polkadot parachain bid

The first-ever parachain auction on Polkadot is heating up, with leading projects from the Polkadot ecosystem competing for the coveted first slot. On Nov. 15, DFG Group — a global blockchain investment firm controlling $1 billion in assets under management — announced it had pledged 300,000 DOT tokens (worth $12.65 million) in support of Astar Network’s parachain bid. Polkadot will use parachain auctions to realize its sharded proof-of-stake ecosystem. In order to secure a parachain or shard on the Polkadot network, projects compete in auctions by bidding to lock up…