CryptoNews_

Harvey Hunter

Last updated:

May 9, 2024 11:29 EDT | 2 min read

Lightning Labs CEO Elizabeth Stark believes the new functionality brought by the Lightning Network Taproot Assets protocol will enable stablecoins on Bitcoin.

During FT Live’s Crypto and Digital Assets summit in London, Stark gave an explainer of Bitcoin and the Lightning Network to an audience of traditional finance players. Lightning Labs’ Taproot Assets protocol is building functionality for issuing assets on Bitcoin that can be transferred over the Lightning Network for instant, high-volume, low-fee transactions.

This builds upon the foundation laid by the 2021 Lightning network Taproot upgrade which expanded Bitcoin’s smart contract and ing capabilities.

This would facilitate the use of stablecoins on the Bitcoin network, and allow them to take advantage of the functionality that the Taproot Asset protocol offers. According to Stark, developers have made significant headway toward this goal, culminating in the testing of transactions on Lightning:

“We released an early part of the code in October and recently demoed the first-ever transaction on Lightning of an asset. The idea is to have crypto dollars and stablecoins on the Bitcoin blockchain.”

excited to announce that I’ve just made the first mainnet *asset* keysend payment w/ Taproot Asset channels! ⚡️🥕

below you can see me sending beefbux across nodes instantly

the demo uses a dev version of litd (Lightning Terminal Daemon) that packages lnd+tapd ⛓️

⬇️ pic.twitter.com/2IVh071YhL

— Olaoluwa Osuntokun (@roasbeef) May 2, 2024

Stark argued that these assets suffer on current blockchains due to high transaction fees and other issues.

She cited Bitcoin’s network as the best blockchain to facilitate stablecoins because it “is the most secure and decentralized.”

Bitcoin and StableCoin Adoption

Stark highlighted growing stablecoin adoption since the COVID-19 pandemic. She cited emerging markets and nations grappling with hyperinflation and duing fiat currencies as contributors to this adoption, looking for alternative stores of value. She explained:

“The stickiest users have been those looking for a stable store of value. In some cases, they’re using Bitcoin. In other cases, they’re using stablecoins, and in some cases, it’s a combination of both.”

In 2021 El Salvador became the first country to register Bitcoin as legal tender, and since then it has seen massive adoption among its inhabitants. something that has proven effective, giving them massive economic growth since.

The largest stablecoin players $USDT and $USDC hold more United States Treasury bonds combined than major nations like Germany and South Korea Something Stark highlighted and intriguing, given that end-users don’t benefit from the interest of holding stablecoins.

Lightning Labs Will Fuel Stablecoin Adoption

Stark claims there is a need for the infrastructure to enable the issuance of stablecoins and real-world assets on the Bitcoin blockchain. She explained:

“That’s why we’re building this protocol, this technology right now. We’re not issuing assets, we’re building the rails. Asset issuers will use our technology to issue real-world tokenized assets.”

She added that the applications of this infrastructure could enable financial institutions to issue gold assets, stablecoins and other fiat-backed assets on Bitcoin. However, the biggest benefit of the Lightning network lies in its cheap transaction fees, compared to other blockchains and traditional financial s.

Stark commented:

“If you look at Visa where fees in the U.S. can be upward of 3%, or even 1%, the fees, transacting with stablecoins on Lightning can be dramatically lower, a cent or less than that.”

This would fuel adoption not just in challenging economic climates, but globally. It would facilitate global transactions at far lower rates than traditional networks, giving the Lightning Network a competitive edge.

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The listing announcement comes shortly after the project successfully onboarded over 2 million downloads worldwide for its flagship game, Bubble Rangers. The company has closed an oversubscribed funding round led by Animoca Brands, Polygon Ventures, Cypher Capital, Ed3n Ventures, and MH Ventures

Cryptocurrency platform Bybit is set to list Imaginary Ones and its $BUBBLE token on 14th May 2024 at 10:00am (UTC) launching with a USDT trading pair

Hosted on the Ethereum network, $BUBBLE is the governance and utility token that powers the Imaginary Ones eco, as the company states its use for gaming, merchandise and content, linking real-world assets to the web3 token. According to the company’s official litepaper, the token can be used for staking rewards, platform payments including in-game transactions and rewards, governance for the community, and as a means to gain exclusive access to Imaginary Ones and its IP partner products, experiences and events

Imaginary Ones is founded by serial tech entrepreneurs Clement Chia and David Lee. Previously, they co-founded OFFSET and OFFEO, an award-winning motion design and digital content platform that achieved a turnover exceeding $20 million with a client base of over 100 global brands including Netflix, Coca-Cola, Google, and Nike.

The company collaborated with fashion giant HUGO BOSS, which saw record sell-outs for its entire HUGO x IO NFT collection within one minute. More recently, they collaborated with Samsung Singapore to unveil new Samsung-exclusive maps in its Bubble Rangers game

“We’ve come a long way since 2022, where it all began with an NFT collection. Imaginary Ones has grown into an IP entertainment eco that connects the worlds of web3 with brands we see and use everyday. The token will be an important part of our progress, as it’s designed to supercharge our eco – listing on Bybit is a step in the right direction,” says Clement Chia, the CEO and co-founder of Imaginary Ones

Bybit exchange also communicated this development in an official blog post on May 9 and shared the news on X about its upcoming $260,000 listing prize pool to celebrate Imaginary Ones upcoming listing. According to the official blog, Bybit announced three special events starting from May 13th, 2024, 10AM UTC till May 27th, 2024, 9AM UTC. Interested users can register for the event through Bybit

About Imaginary Ones

Imaginary Ones is a Web3 entertainment company, seamlessly integrating interactive gaming experiences, curated merchandise offerings and captivating content to redefine the boundaries of immersive entertainment. Founded by Clement Chia and David Lee, Imaginary Ones brings together gaming, merchandise and content on the promise that “If you can imagine it, we can build it”.

Alongside two other partners – Gregory Poon and Jerome Kwek, the team launched one of the most successful global NFT projects thus far, selling out the entire collection within 4 minutes of the Dutch Auction sale. To date, more than 17,000 Ethereum (~$37,000,000 USD) of sales volume have been transacted on OpenSea.

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Tanzeel Akhtar

Last updated:

May 9, 2024 11:00 EDT | 1 min read

Chiliz, the owner of the blockchain sports rewards platform Socios.com, and Azuro, a liquidity layer for onchain predictions, have partnered to grow the onchain sport prediction market.

In an announcement, the firms said the collaboration will involve Chiliz Chain integrating the Azuro Protocol, and adding existing supported chains such as Polygon and Gnosis Chain.

This will allow Chiliz to expand into the sports-focused prediction applications market and any existing builders using the Azuro infrastructure will be able to connect their apps to the Chiliz Chain. This in turn will allow users to place transactions with the Chiliz blockchain native token CHZ.

“Integrating with Azuro marks a pivotal move for Chiliz Chain to capitalize on the rapidly expanding onchain prediction market,” said Alexandre Dreyfus, CEO of Chiliz and Socios.com, a press release. “Leveraging Azuro’s advanced infrastructure, we’re empowering developers to innovate within the sports and gaming sectors,” adds Dreyfus.

In April, Azuro, a decentralized autonomous organization (DAO) building a protocol for blockchain-based predictions, raised $11 million with investment from SevenX Ventures and Arrington Capital. Since launching, Azuro claims it has become the fastest-growing protocol on Gnosis Chain and the number one revenue-generating protocol on Polygon.

Azuro, Chiliz to Launch Co-Sponsored Grants Program

In the near future, Azuro and Chiliz said they will be launching a co-sponsored grants program aimed at incentivizing app developers to build on their combined infrastructure. In return the firms will award bounties for the first apps that push further adoption of onchain prediction markets, and meet their goal for setting new transparency and fairness standards.

What is Chilliz?

Chiliz was developed with the purpose of facilitating the distribution of blockchain-based sports and entertainment services and goods. Fan tokens are a revolutionary new method for users and teams to communicate and participate on Chiliz.

The Chiliz platform allows users to buy exclusive fan tokens from major league teams and popular businesses across the world. Chiliz is currently trading at $0.12 however the Chiliz Token does have an all time high of $0.89. Voting privileges and opportunities for recognition and incentives based on user participation are unlocked for purchasers of Chiliz (CHZ) token.

Chiliz owned Socios.com hosts over two million users. The firm has partnerships with FC Barcelona, Paris Saint-Germain, Manchester City, Juventus, S.S.C Napoli, Inter Milan, AC Milan, Arsenal, Atlético Madrid, A.S. Roma and the major F1 teams

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Ruholamin Haqshanas

Last updated:

May 9, 2024 10:14 EDT | 2 min read

Marsh, the insurance broking and risk advisory business of Marsh McLennan, has unveiled an insurance solution designed for crypto-asset service providers operating within the European Union (EU).

The launch of MiCAssure comes in anticipation of the forthcoming Markets in Crypto-Assets Regulation (MiCA), which is set to be implemented on December 30, 2024, according to a Thursday press release

MiCAssure is intended to address the regulatory framework established by MiCA, which seeks to provide legal certainty, consumer protection, and address market fragmentation within the EU’s crypto-assets market.

MiCAssure Covers Third-Party Claims Related to Misrepresentations

The insurance solution, developed in collaboration with Lloyd’s and London market insurers by Marsh Specialty, offers coverage for third-party claims related to misrepresentations, confidentiality breaches, business interruption, legal obligations, and gross negligence in safeguarding clients’ crypto assets and funds.

“Regulatory advancements such as MiCA enhance the credibility of the digital asset eco by offering security and stability to retail users and institutions venturing into the digital assets space, while providing robust guidance and frameworks for crypto-asset service providers,” Rupert Poland, the UK digital asset leader at Marsh Specialty, said.

He claimed that MiCAssure serves as both an operational safeguard and a means to unlock capital, facilitating growth for crypto-asset service providers operating in the EU.

“MiCAssure not only offers clients an operational safeguard but also has the potential to free up capital and facilitate growth, making it a vital insurance and risk management solution for crypto-asset service providers operating in the EU.”

🔒 Protect your crypto like never before! Marsh unveils revolutionary insurance solutions customized for EU clients. Say goodbye to sleepless nights worrying about your investments! 🛡️ #MarshCrypto #SecureYourFuture pic.twitter.com/7qDIucnw5W

— Koinpro exchange (@ProKoin) May 9, 2024

The introduction of MiCAssure follows Marsh’s previous launch in March of an insurance facility for digital asset custodians, including financial institutions.

This facility, which boasts the largest insurance capacity of its kind, up to $825 million, is accessible to Marsh clients worldwide.

It specifically supports organizations that store digital assets in offline or “cold storage.”

The EU is Working on Implementing MiCA

The EU is in the process of implementing the MiCA regulation, which includes rules for safekeeping and segregation of assets for custodians.

Last month, the EU formally passed an anti-money laundering regulation (AMLR), applicable to all crypto-asset service providers (CASPs).

The laws would provide more powers to Financial Intelligence Units (FIUs) to detect and combat money laundering and terrorist financing.

More recently, the EU securities watchdog, the European Securities and Markets Authority (ESMA), revealed that it is seeking input from stakeholders on the potential inclusion of crypto assets in investment products.

“By the end of the year, all of MiCA’s rules are scheduled to come online,” Nicolas Streschinsky, the Head of DeFi at Trilitech, said in a comment.

“Together with other initiatives like the EU DLT Pilot Regime, the regulatory landscape for cryptocurrency assets and blockchain-linked projects in the European Union is rapidly becoming the clearest out of all major jurisdictions.”

As reported, Western Europe has emerged as a leading region in global crypto adoption, attracting a substantial number of daily traders, ranging from 1.2 million to 1.5 million individuals.

Another recent survey has revealed that nearly 50% of European cryptocurrency holders owned Bitcoin in February.

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Simon Chandler

Last updated:

May 9, 2024 10:14 EDT | 3 min read

The XRP price has slid by 1.5% in the past 24 hours, dropping to $0.5136 after the SEC filed in support of its motion requesting a nearly $2 billion penalty for Ripple.

XRP is now down by close to 1% in a week and by 17% in a month, with the altcoin up by a very modest 20% in the past year.

This means that XRP has significantly underperformed relative to other major tokens (e.g., BTC, ETH, SOL), yet the implication of its underperformance is that it could potentially surge in the coming months.

This is particularly the case if the eventual penalty doesn’t end up being as steep as feared, freeing Ripple to move on from its long-running legal saga.

XRP Price Prediction as SEC Pushes for $2 Billion Penalty Against Ripple – Will XRP Plummet?

XRP follows most of the market in having a subdued chart with weak indicators, with the pain likely to continue for at least a few more days before things pick up.

Its 30-day average (orange) has only recently dropped below the 200-day (blue), meaning that it needs a little more time before bottoming out.

Source: TradingViewIt’s a similar story with the relative strength index (purple), which, after spending several days above 50, has recently dropped towards 40 and under.

Again, it may need to languish for two or three days yet before XRP begins recovering, although any further losses shouldn’t be significant.

The reason why the coin has been unable to progress much during recent bull periods is the ongoing Ripple-SEC case.

The latter is nearing its end, with Ripple pushing for a settlement penalty in the region of $10 million, and SEC pushing for a figure closer to $2 billion.

The Ripple v. SEC briefs are FINISHED!

And I think the SEC went out with a whimper here.

It didn't even try to attack ODL sales, just noting that Ripple was trying to re-litigate the issue (which it is).

And it brought nothing new on damages.

Just waiting for The Judge now! pic.twitter.com/Futa93lXUb

— Jeremy Hogan (@attorneyjeremy1) May 8, 2024

Now, all that’s left to do is wait for the judge to reach a decision, with the SEC filing what is likely its final reply yesterday.

Noted lawyer Jeremy Hogan expects a decision by July, or September at the latest.

Either way, a final settlement will enable Ripple to cut its losses (in terms of paying a fine) and move on with its business.

It will be able to expand its cross-border payments business again, and investors will feel more confident in XRP.

As a result, the XRP price could rally significantly, potentially reaching $1 by the end of the year.

New Altcoins Bring Big Potential

Given that XRP will have to wait at least a few more months to make a really big move, traders looking for big short-term gains may prefer to investigate newer tokens.

One of the newest and most interesting coins in the space right now is WienerAI (WAI), an ERC-20 token that has raised over $1.3 million in its popular presale.

Don't be left out in the cold.

GET IT WHILE IT'S HOT

🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥 pic.twitter.com/I69IUJanLC

— WienerAI (@WienerDogAI) May 8, 2024

With a name like WienerAI, casual observers may be forgiven for assuming that WAI is just another potentially viral meme coin.

Yet it also boasts some real utility, with the coin serving as the native token for the WienerAI trading bot.

As a trading-focused chatbot, WienerAI will answer trading queries and help investors identify high-potential tokens.

It will also enable the same traders to purchase tokens, with the bot featuring an atomic swap function through which users can purchase any recommended token.

On top of this, WienerAI will also include front-running protection, meaning it will enable traders to make trades ahead of any bots looking to take advantage of cross-platform arbitrage opportunities.

These features are why investors are flocking to the coin’s presale, with WAI coming with a max supply of 69 billion tokens.

STAKE NOW and fill your wallet with beautiful Wieners!!!

Current staking apy is over 2000%!

Buy and stake here:

🌭🌭🌭🌭🌭🌭🌭🌭🌭🌭🌭 pic.twitter.com/FSIVZ3tXUr

— WienerAI (@WienerDogAI) April 21, 2024

Holders will also be able to stake the token, with its yield currently standing at close to 700%.

Investors can join its sale by visiting the official WienerAI website, where 1 WAI is selling for $0.000705.

Buy WAI Today

Follow Us on Google News Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

Sead Fadilpašić

Last updated:

May 9, 2024 10:04 EDT | 2 min read

Thanks to a recent partnership, developers can build non-custodial, on-chain Web3 games and products as Telegram Mini Apps (TMAs).

Inco, developers of a universal confidentiality layer for Ethereum and other networks, has announced its partnership with Privy, an embedded wallet provider that enables crypto app developers to onboard their users easily.

Developers can now access users directly in Telegram, a mega-popular social media platform with 900 million users worldwide.

Therefore, building decentralized apps (Dapps) as TMAs allows developers to “create a consumer-friendly experience and tap into the largest pool of retail users,” the press release said.

These web apps run inside Telegram Messenger, meaning that users can access them in individual or group chats.

More specifically, users can launch “an embedded web interface with an experience similar to other popular in-app browsers,” the team said.

Launching a TMA is as simple as starting a chat conversation with an app’s Telegram handle,” it added.

As an example, the team gave a poker game running fully on-chain. Players don’t have to trust the ‘dealer.’ Instead, they can check their play thanks to the encryption technology called Fully Homomorphic Encryption (FHE).

Source: Inco, PrivyNotably, Inco has already created “a number of demo apps,” it said. These include Slot Machine (@inco_slots_demo_bot) and Hangman (@IncoHangmanGameBot).

Both of these games utilize FHE for on-chain confidentiality and randomness.

New Forms of Web3 Games on Telegram

Inco is a confidentiality-focused Ethereum Virtual Machine (EVM) powered by FHE, the team said.

Developers can use it to build decentralized apps and mini-games that work with their wallet providers.

Shout out to the incognito community for 10k. We will exponentially grow in the coming months as we are the hegemon of enabling net new use cases of on-chain decentralized applications on your favorite L1/2.

— Surag (@suragsheth) May 5, 2024

The various game types include slot machines, card games, guessing games, prediction markets, and more.

This enables “new forms of gameplay with confidential elements,” it added.

Furthermore, while many TMAs provide their own custodial wallets, which is a security risk, “developers can now integrate Privy SDK to provision self-custodial wallets for users to securely power on-chain experiences from Telegram.”

Additionally, developers are free to access Inco’s open-source repo to start building similar experiences within Telegram.

Explaining this further, the team said that Telegram Mini Apps can be built using popular web development standards like HTML, CSS, and Java / React.

Building a Web3 product as a Telegram Mini App provides several advantages, including:

• Automation with Telegram bots – automated text-based s for users, to facilitate in-app actions and receive notifications
• Embedded monetization – TMAs offer monetization opportunities through in-app purchases, subions, etc.;
• Cross-platform experiences – developers can synchronize session history across web and mobile app deployments (e.g. starting an activity in a TMA and continuing on the desktop web).

Per Privy COO Max Segall, this partnership will help developers meet their users where they are – many of them being on Telegram.

Inco CEO Remi Gai commented that “building decentralized apps directly within Telegram will become the next trend.” What’s more, it will boost the Web3 industry development.

“Easy-to-access, share, and scalable apps represent a new wave of dapps,” Gai added.

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Tanzeel Akhtar

Last updated:

May 9, 2024 10:00 EDT | 1 min read

Blockdaemon, a crypto infrastructure provider, said it is adding Liquid Collective’s eco to its platform, this in turn will allow its developers to contribute to the ETH liquid staking protocol.

In an announcement, Blockdaemon said it is supporting Liquid Staked ETH (LsETH) minting, redemption, and custody. This will mean “LsETH” will be integrated as the liquid staking solution in the Blockdaemon Wallet product.

“Our decision to make LsETH the exclusive liquid staking solution within the Blockdaemon Wallet strongly reflects our commitment and enthusiasm for joining the Liquid Collective,” said Konstantin Richter, Founder and CEO of Blockdaemon in a press release

Liquid staking, which allows users to free up their capital from staked assets, has gained popularity on Ethereum

Blockdaemon Backed by Banks

Blockdaemon’s clients include Blockchange, Plaid, Citibank, Goldman Sachs, and B2C2. The infrastructure firm is backed by Goldman Sachs, J.P. Morgan, Softbank Vision Fund, ARK Invest, Salesforce Ventures, and others.

In 2021, the firm raised $28 million in a Series A funding round, led by Greenspring Associates, with participation from Goldman Sachs, BlockFi, Warburg Serres, Uphold, and Hard Yaka Infrastructure firm Blockdaemon supports blockchain networks including ETH 2.0, Bitcoin, Cardano, Polkadot, Cosmos, SKALE, MobileCoin and n, and the Lightning Network.

This latest expansion will allow Blockdaemon’s clients to mint and redeem LsETH directly from their Blockdaemon account, where they can also custody their LsETH. Blockdaemon said liquid staking through the Liquid Collective protocol will be offered as part of its integrated business solutions, which include node operations, APIs, staking solutions, and wallet services.

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Diversification remains a key strategy for seasoned investors looking to maximize their returns while managing risk. Recently, a prominent Bitcoin (BTC) bull, renowned for his astute investment decisions and multimillion-dollar portfolio, made waves in the crypto community by expanding his holdings beyond the confines of the leading cryptocurrency This bull, whose portfolio boasts a staggering $12,000,000 valuation in Bitcoin alone, has set his sights on a lesser-known alternative: Hump Token (HUMP). Priced under $0.01, Hump Token represents a compelling opportunity for investors seeking exposure to the burgeoning world of decentralized finance (DeFi). In this article, we delve into the motivations behind this strategic move and explore the potential implications for both the investor and the broader cryptocurrency market.

The Bitcoin Bull’s Bold Move: A Shift Towards Diversification

For years, Bitcoin has reigned supreme as the flagship cryptocurrency, capturing the lion’s share of market attention and investment capital. However, as the cryptocurrency eco continues to mature, savvy investors are increasingly looking beyond Bitcoin to diversify their portfolios and capitalize on emerging opportunities. The $12,000,000 Bitcoin bull, known for his unwavering confidence in the digital gold narrative, surprised many in the crypto community with his decision to allocate a portion of his wealth to Hump Token (HUMP). This move underscores a broader trend among institutional and retail investors alike, who recognize the potential for outsized returns in alternative cryptocurrencies with strong fundamentals and innovative use cases.

Unlocking the Potential of Hump Token: An Ethereum (ETH) Alternative

At first glance, Hump Token may appear as just another low-priced cryptocurrency vying for attention in a crowded market. However, a closer examination reveals a project with ambitious goals and a dedicated community. Built on the Solana blockchain, Hump Token distinguishes itself by offering lightning-fast transaction speeds and negligible fees, addressing common pain points associated with Ethereum-based alternatives. Priced under $0.01, Hump Token presents an accessible entry point for investors seeking exposure to the burgeoning DeFi eco without the prohibitive costs often associated with established cryptocurrencies like Ethereum (ETH). Moreover, Hump Token’s innovative features, including tax-free transactions and community-driven governance, have garnered attention from both retail and institutional investors, positioning it as a promising contender in the competitive cryptocurrency landscape.

The Appeal of Hump Token (HUMP)

Attracted by its unique value proposition and promising trajectory, the $12,000,000 Bitcoin bull saw an opportunity to diversify his portfolio and capitalize on the growing popularity of Hump Token. Unlike traditional cryptocurrencies, Hump Token offers tax-free transactions, providing users with a cost-effective and efficient trading experience. Furthermore, its listing on prominent decentralized exchanges (DEXs) like Raydium and Jupiter enhances its visibility and liquidity, making it an attractive investment option for savvy investors seeking exposure to emerging assets.

The Rising Fame of Hump Token

In recent months, Hump Token has garnered significant attention within the cryptocurrency community, thanks to its exponential growth and widespread adoption. From its initial listing on decentralized platforms to its inclusion on reputable market data websites like CoinMarketCap and CoinGecko, Hump Token has demonstrated its ability to captivate investors and defy market expectations. With a market capitalization exceeding $50 million and ambitious price targets on the horizon, Hump Token stands poised to challenge the status quo and redefine the dynamics of the meme coin landscape.

Navigating the Hump Token Eco

For investors looking to capitalize on the potential of Hump Token, navigating the eco may seem daunting at first. However, with the right approach and understanding, participating in the Hump Token eco can be a rewarding endeavour. By leveraging user-friendly platforms and decentralized exchanges, investors can acquire Hump Token with relative ease and join a vibrant community of like-minded individuals committed to its success. With zero transaction taxes and seamless integration with popular wallets like MetaMask and Solflare, Hump Token offers a hassle-free investment experience for both seasoned traders and newcomers alike.

Analyst Insights: The Future of Hump Token

As Hump Token continues to gain momentum and attract attention from investors worldwide, analysts remain optimistic about its future prospects. With ambitious price targets and a growing eco of users and developers, Hump Token has the potential to emerge as a disruptive force within the cryptocurrency market. While risks and uncertainties persist, the underlying fundamentals of Hump Token, coupled with its innovative features and dedicated community, position it for sustained growth and long-term success.

Conclusion

In an era defined by digital innovation and financial disruption, the $12,000,000 Bitcoin bull’s investment in Hump Token underscores the evolving nature of the cryptocurrency market. As investors seek to diversify their portfolios and explore new growth opportunities, emerging assets like Hump Token offer a compelling alternative to traditional cryptocurrencies With its unique value proposition, strong community support, and ambitious goals, Hump Token represents more than just a meme coin—it symbolizes the relentless pursuit of innovation and the democratization of finance in the digital age. As the cryptocurrency market continues to evolve, Hump Token stands poised to carve out its niche and redefine the future of decentralized finance.

Click here to Buy Hump Token (HUMP):

Website: ****

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Simon Chandler

Last updated:

May 9, 2024 08:32 EDT | 3 min read

SHIB has dropped by 1.5% today, with the Shiba Inu price landing on $0.00002242 as the crypto market suffers a 1% loss in the past 24 hours.

The meme token remains up by a very modest 1.5% in a week, although it has also witnessed 10% fall in a fortnight and a 20% decline in a month.

However, it’s not all bad news today, with VanEck subsidiary MarketVector launching a meme coin fund yesterday.

Such a fund could potentially boost SHIB’s price over time, especially when the coin is the second-biggest component of the fund, after Dogecoin.

Shiba Inu Price Prediction as New York-based VanEck’s Subsidiary Launches Meme Coin Fund – Will SHIB Skyrocket?

It’s clear that SHIB is in the middle of a slump, yet its recent history suggests that it will enjoy a rebound quite soon.

Its 30-day average (orange) fell below the 200-day (blue) a couple of days ago, and is now quite low, suggesting that the market is overselling it.

Source: TradingViewLikewise, the coin’s relative strength index (purple) has remained below 50 since Monday, also suggesting that the time is ripe for an uplift.

Yet it’s worth pointing out that SHIB’s support level (green) has lowered in recent days, implying that the coin is too weak to prevent further losses in the near term.

However, the negative outlook may be about to change, with this week seeing the aforementioned news that MarketVector – a subsidiary of major New York-based institution VanEck – has opened its own meme token fund.

VanEck's MarketVector launched #MEMECOIN index.
It means money will be on #memecoins this cycle as it showed itself during Q1 euphoria.
I might rotate some bags to strong meme coins. pic.twitter.com/SdJEPqgFUc

— Johnny Woo | Never DM you for Money (@j0hnnyw00) May 9, 2024

As the tweet above shows, SHIB comprises 28.34% of the overall fund, ahead of PEPE but slightly behind Dogecoin.

This index launch could mean that we will see higher volumes for SHIB over the coming weeks and months, helping its price to pick up.

More generally, its oversold status at the moment would also point to incoming recoveries, while expected rate cuts will bring market-wide positivity in later months.

And what helps SHIB more than its rivals is that it has some of the strongest fundamentals of any meme token, given its recent efforts to expand its eco and utility.

Most recently, developers announced that it would soon be launching a privacy-focused layer-three network, for which it raised $12 million in funding last month.

As such, things still look very good for the coin, with the Shiba Inu price likely to reach $0.00004 by the end of summer.

Newer Meme Tokens Bring More Potential

While the new VanEck fund could help instigate a meme token season sooner or later, SHIB won’t be the only coin to benefit from increased demand.

There are also a wide variety of new meme coins in the market, with some of these holding real potential.

At the top of any list of promising new tokens is Dogeverse (DOGEVERSE), a multi-chain crypto that has raised over $13 million in its ongoing presale.

Which blockchain do you stand by? 🤷‍♂️

$DOGEVERSE goes #MultiChain 🚀

🌞 #Solana
🔗 #Ethereum
❄️ #Avalanche
🏗️ #Base
🔷 #Polygon
🪙 #BNB Chain

Comment below and tell us why you love your chosen chain! #MemeCoinSeason #BabyDoge #ETH #SOL $DOG pic.twitter.com/8oOISipjMM

— DogeVerse (@The_DogeVerse) April 29, 2024

Launching on Ethereum, DOGEVERSE will also bridge to Polygon, BNB Chain, Solana, Avalanche and Base, making it crypto’s first multi-chain Doge-themed cryptocurrency.

This is bullish insofar as the ability to use the coin on multiple networks will increase its use and adoption, with DOGEVERSE potentially gaining traction on numerous dApps.

One other thing it has over the original Dogecoin is that it has a fixed supply of 120 million tokens, making it potentially deflationary over time.

By squeezing supply, DOGEVERSE’s price is likely to rise higher than it may have otherwise, a process likely to be amplified by the ability to stake the token.

In theory, the token’s existence on multiple chains could make for more holders than usual staking the coin, something which will magnify the coin’s chances even further.

Investors can participate in its sale by visiting the official Dogeverse website, where 1 DOGEVERSE costs $0.00031.

This is its final presale price, meaning that it may rise much higher once it lists on exchanges in the next few weeks.

Buy DOGEVERSE Today

Follow Us on Google News Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

Harvey Hunter

Last updated:

May 9, 2024 08:20 EDT | 2 min read

Morse code, cryptic messages, and a redesign of NEAR Protocol’s X profile have left users concerned that they have been hacked.

On May 8th, NEAR Protocol’s official X handle began to post a series of cryptic tweets and messages which left the crypto community puzzled. The unusual behavior started with a 28-second-long video containing a Morse code message.

Once decoded, the message read, “Darkness is coming.”

pic.twitter.com/jzosIuLJpI

— N̷̢̒E̶̳̎Ą̷͌R̴̳͝ (@NEARProtocol) May 8, 2024

Two hours after the tweet, NEAR’s X account sent out four consecutive tweets using hard-to-read gothic fonts, commonly used by heavy metal bands.

The tweets contained more concerning messages like “the sun rises in the east,” “take back your thoughts,” “darkness” and “reclaim your sovereignty.”

r̴͖̳͙͂̽e̵̙̯̙͚͙̳͚̍͑́͌̓̒͘ć̵̺̯͚͛̕̕ͅl̵̻͉̱͙̰̞̹̈́̇̋͜a̸̯͂̌̓̌̕͠ȉ̷̡͇͖̖͇͖̠̺̔̊͆̃̕͝m̶̠̀͑͗ͅ ̴̠͇̹̩̬͆̾̎̔̋̇̓ͅy̵͔̬̣̋̇̒͌̕o̸̡̘̩̮̦̽̓̓̈́̔͐ͅu̶̢̙̳͓̹̮̝̓̂͆r̸̰̠̣͎͖̀ ̴̱̥̠̖̙̓̽̄͊̔̚ş̴̛͉̻̯̰̲͓̇̈͑̈́͜o̶͍͋̈͌̚͝v̵̧̡̝̘̫̍̑̈͝͠e̶̪͕̻̼̓͐r̴̬̔͛͂e̷̢̥̘̩̽̒̈́̇͛̔ȋ̸̲̼̈̋́̋̎̔ͅg̶̬̰͔͓͓̼̖̀̎̆̈̽͘n̸̠͉͊̇̎̓̈́́͝t̵͈̙̫̂̇̓͗̀̈́y̶̨̥̰̣̙͂̈

— N̷̢̒E̶̳̎Ą̷͌R̴̳͝ (@NEARProtocol) May 8, 2024

This culminated in a complete visual redesign of NEAR’s X profile. Their banner and profile picture were changed to solid black.

Additionally, NEAR’s display name and deion were also changed to match the mysterious theme of the tweets, simply reading “dark.”

The Community’s Reaction to NEAR Protocol’s Activity

The posts are not on-brand compared to NEAR’s past communications. Something that has ed the crypto community on X and blockchain investigators to suspect a possible hijack.

However, a handful of the protocol’s supporters see the tweets as a sign of something bigger coming to the eco. Though the post’s intended meaning is unclear, users generally agree to proceed with caution. This stems from the fear that a hack was launched with malicious intent.

In January 2024, the X account of Cryptocurrency data aggregator CoinGecko experienced a security breach and was used to run phishing scams.

The company managed to regain control of its social media account following a quick intervention. Hacks like this make it increasingly important that users are vigilant and know how to protect themselves from crypto fraud and scams.

NEAR Foundation Layoffs

NEAR Foundation, the developer of NEAR Protocol, recently laid off 40% of its staff to “significantly consolidate the core Foundation team to focus on a narrower and higher-impact set of activities.”

This decision led to a loss of over 35 employees across the business development, marketing, and community teams. The company commented:

“The Foundation is well-placed to continue to support the ongoing growth, development, and further decentralization of the NEAR Protocol and eco.”

The layoffs followed a review that revealed inefficiencies in the foundation’s operations.Over the next few years, the foundation intends to reduce its footprint even more as the eco moves closer to true decentralization. However, this decision may have come at a cost. Some of the affected departments had direct involvement in NEAR Protocols X communications, which could have contributed to the suspected hijack of the account.

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Ruholamin Haqshanas

Last updated:

May 9, 2024 08:10 EDT | 2 min read

Crypto hedge fund Pantera Capital has reiterated its bullish stance on Bitcoin, predicting a potential surge in price to $114,000 by August 2025.

The forecast comes as the industry grapples with challenges such as inflation concerns, Federal Reserve interest rate policies, and the escalating Middle East crisis.

In its latest report, Pantera Capital revisited its analysis from November 2022, which examined Bitcoin’s past performance before and after its most recent halving event.

Pantera Uses Stock-to-Flow Model to Predict Bitcoin Price

Utilizing a stock-to-flow model, Pantera assessed the supply of Bitcoin in relation to the rate of new production, which is designed to decrease by 50% every four years during halving events.

Historical data shows that Bitcoin’s price has experienced significant increases, sometimes up to 93-fold, in response to these events.

By studying both pre-halving and post-halving rallies, Pantera Capital determined that, on average, prices tend to reach their peak approximately 2.6 years after halving events.

Based on this analysis, the projected timeframe for Bitcoin’s potential surge aligns with August next year.

#Bitcoin Gains Post-Halving

▫️2012: 𝟏𝟔,𝟐𝟎𝟎% or 163x

▫️2016: 𝟒,𝟎𝟎𝟎% or 41x

▫️2020: 𝟏𝟔𝟔𝟓% or 17.65x

Even 1/4th of 2020 gains will put the #BTC price at $𝟮𝟴𝟬,𝟬𝟬𝟬.

Current sentiment is bad but keep this in mind;) pic.twitter.com/GWRtu1MleI

— Ted (@TedPillows) May 8, 2024

While the stock-to-flow model is not an exact science, it has gained popularity within the crypto industry as a tool to uate the intrinsic value of Bitcoin.

Pantera Capital’s forecast joins a chorus of other optimistic predictions for Bitcoin.

Research firm Bernstein has set a target of $150,000 by mid-2025, while Anthony Scaramucci, founder of Skybridge Capital, envisions a price of $170,000 or higher next year

Fundstrat Global Advisors’ Thomas Lee has also expressed the possibility of Bitcoin reaching $150,000 in 2024 and even $500,000 over the next five years.

Bitcoin Sees Heightened Volatility

Bitcoin closed the week at approximately $64,000, representing a 1.4% increase from the previous week’s closing value of around $63,100.

The week was marked by heightened volatility, with prices initially dipping significantly to around $56,500 on Wednesday before rebounding above $60,000 by Friday.

While Bitcoin ETFs experienced net outflows for the fourth consecutive week, the period of outflows may have peaked, Matteo Greco, a research analyst at digital asset investment firm Fineqia International, said in a recent note.

He added that trading volume for Bitcoin ETFs remained relatively steady during the week, with cumulative trading volume since inception reaching $246.6 billion.

During the week alone, trading volume amounted to $10.9 billion, a 12.3% increase from the previous week.

However, these figures still fall below the average trading volume of $3.1 billion since the inception of Bitcoin ETFs.

“These figures suggest that the period of outflows may have peaked, with trading volumes showing signs of increase and outflows potentially stabilizing,” he wrote.

Furthermore, following a four-month period of consistent outflows, Grayscale’s spot Bitcoin ETF finally witnessed a positive shift

On Friday, May 3, the downward trajectory was reversed when GBTC experienced its first inflow of $63 million.

As a result, the overall spot Bitcoin ETF market saw net positive inflows of $378.3 million after seven days of continuous outflows.

The trend continued on Monday, May 6, as GBTC recorded its second inflow of $3.9 million, bringing the total inflows to $66.9 million.

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Sujha Sundararajan

Last updated:

May 9, 2024 07:23 EDT | 1 min read

Rwanda is studying the feasibility of adopting a central bank digital currency (CBDC), exploring benefits, risks and practicalities of implementing a retail CBDC.

The National Bank of Rwanda (BNR) released a feasibility report on Wednesday, assessing possible opportunities for a CBDC in Rwanda. The central bank is adopting latest innovative technologies, and the CBDC is curated to local norms and conditions.

“The feasibility study finds that there are opportunities for improvements in the payments landscape of Rwanda,” the report read. “The identified Sweet Spots are well-positioned to address these opportunities.”

The bank pointed to four “sweet spots” for CBDC “based on stronger evidence and higher certainty of achievability than the other opportunities.”

This includes increasing resilience against power or network outages, improving innovation and competition among other rival CBDCs, contributing to achieving a cashless economy and developing faster, cheaper and transparent international remittances.

BNR also laid out challenges involved in introducing a CBDC in the Central African nation. “The risks that the study identifies with a high level of concern and few mitigation options are related to CBDC adoption by the public, financial service providers, and merchants.”

Risk of Low CBDC Adoption

Rwanda bank stressed on clearly explaining and articulating CBDC in a simple manner to Rwandans. It also noted that the risk of CBDC adoption is a “complex mater,” which has to be addressed.

“CBDC should provide a frictionless user experience by combining the best of both private and public currency worlds,” it added. “Alternatively, the CBDC user experience could mimic mobile money. This requires careful balancing, since the BNR should not be seen as a competitor to EMIs.”

Further, to address these issues, the central bank of Rwanda recommended a token-based CBDC model with open programmability. It also proposed an offline-capable CBDC. It would use Bluetooth or Near Field Communication (NFC) “that are not reliant on Internet connectivity.”

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Tim Hakki

Last updated:

May 9, 2024 07:19 EDT | 2 min read

Popular Solana meme coin DogWifHat ($WIF) is taking a tumble today as falling crypto prices across the board drag many coin prices down.

In the last 24 hours, WIF has fallen 4.8% and currently trades at $2.80. That makes it the biggest intraday loser among the top seven meme coins by market capitalization

The market leaders’ depreciation over the same period was also more muted. Original cryptocurrency Bitcoin ($BTC) fell 2.5% and changes hands at $60,800. Ethereum ($ETH) only dropped 1.5% and currently trades for $2,956.

Original meme coin Dogecoin ($DOGE) tracked Bitcoin overnight and fell 3.2% to trade at $0.144 as of Thursday, May 05.

Meanwhile, Pepe Coin ($PEPE) actually rallied a bit.

The most popular coin honoring Pepe the Frog rose 0.2% to trade at $0.057923 as of this writing

DogWifHat is still the leading Solana meme coin with a market capitalization of nearly $3 billion. WIF’s two closest contenders, the $1.5 billion market cap bonk Bonk ($BONK) and the $720 million Book of Meme ($BOME), have both fallen 2-3%.

Over on WIF’s trading chart we can see the token rallied in step with broader market movements throughout March.

Unlike the market leaders, WIF continued rallying strongly at the end of March and actually rose to set a new all-time high of $4.83 on March 31. Today’s price represents a 42% decline since then

Source: TradingViewWith a relative strength index (RSI) at 40 and climbing, WIF may have found the support it needs at its current price. This means that heavy further losses are unlikely going into the weekend.

Forget DogWifHat, Sealana is Solana’s Next Viral Meme Coin

DogWifHat is an adorable meme but it’s not exactly fresh. In a sector led by coins that have market caps in the tens of billions, it’s not likely to stand out over its more stalwart rivals.

Solana’s Sealana ($SEAL) the all-American redneck seal has already raised over a $300,000 in a hilarious new week-old presale

Sealana is a spin on South Park’s viral Gamer Guy, aka Fat Computer Nerd.

Gamer Guy appeared in the hit cartoon’s side-splitting World of Warcraft episode and became a viral meme all on his own thanks to his milk-bottle glasses, screen-locked stare, messy room and gravity-defying girth

He has symbolized anyone from the legions of disgruntled keyboard warriors writing sharp, acerbic opinions in internet comments sections, to a kind of Everyman – a symbol of the idler in everyone.

#Sealana, making #Memecoins great again! 🇺🇸

Manifesto
1⃣ No Frogs 🐸
2⃣ Less Hats 🧢
3⃣ Many Whales 🐳
4⃣ Zero Rugs 📉
5⃣ More $SEAL 🦭 pic.twitter.com/FEImgpWxWz

— Sealana (@Sealana_Token) May 7, 2024

Sealana is Web3’s Everyman, beached at his desk and ballooning by the day. When he’s not making filthy degen trades, Sealana’s roving flippers reach for the sustenance of chips and tinned tuna

For every 1 SOL, investors get 6,900 $SEAL tokens after the ICO’s concludes Users can pay using a widget on the website or by sending SOL from a decentralized wallet to this address: DJ15ZYXqUNMYJ3hL7z4ciSaSFAw5cbos3YjGpdvwmF6c.

Follow the latest developments on Sealana’s X account.

Buy Sealana at the official website here

Follow Us on Google News Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

Ruholamin Haqshanas

Last updated:

May 9, 2024 06:12 EDT | 2 min read

The European Union (EU) securities watchdog, the European Securities and Markets Authority (ESMA), is seeking input from stakeholders on the potential inclusion of crypto assets in investment products.

The move has the potential to open up a vast market for cryptocurrencies, surpassing the scope of spot Bitcoin exchange-traded funds (ETFs).

ESMA’s call for input is intended to expand the assets eligible for Undertakings for Collective Investment in Transferable Securities (UCITS), a market valued at €12 trillion.

Approval of Crypto Assets for UCITS Could Expand Market Access

The approval of crypto assets for the EU’s UCITS would offer broader access to cryptocurrencies within the €12 trillion market.

In the US, funds managed by major players like BlackRock and Grayscale have already attracted approximately $18 billion since the beginning of the year, playing a significant role in driving the Bitcoin rally in the first quarter of 2024.

However, approval is not guaranteed, and ESMA is seeking stakeholder input until August 7 to gather perspectives and insights.

The EU’s securities watchdog is asking stakeholders whether it should include crypto assets into investment products. The move opens the door to broader access to cryptocurrencies via UCITS, a €12 trillion market. DLNEWS

— Wu Blockchain (@WuBlockchain) May 9, 2024

Andrea Pantaleo, a lawyer specializing in crypto regulation and litigation at DLA Piper, believes the impact would be more substantial than that of US ETFs, as multiple fund compartments could express interest in investing small percentages of liquidity in crypto assets.

One advantage of accessing UCITS for the crypto industry is its diverse investment categories.

UCITS investments encompass various funds with different asset allocations based on their risk profiles.

This framework could also benefit market liquidity, as authorization would not be required for each individual investment in crypto assets, unlike in the US, where ETFs are based on single assets that require regulatory authorization.

Obstacles to Overcome Before Crypto Is Included in EU UCITS

While there are potential benefits, there are still obstacles to overcome before crypto assets can be included in the UCITS framework.

One significant challenge is custody, as regulations for depository banks need to be coordinated with the custody of crypto assets.

The EU is in the process of implementing the Markets in Crypto-Assets regulation (MiCA), which includes rules for safekeeping and segregation of assets for custodians.

Crypto assets involved in UCITS would likely need to comply with these rules.

ESMA is specifically seeking feedback on how the inclusion of specific cryptocurrencies in the UCITS framework would be affected by MiCA.

However, the process of updating the UCITS eligible assets rules is expected to be time-consuming and subject to negotiation.

It will likely be a long road before a definitive decision is made on whether crypto assets will be allowed in UCITS.

Last month, the EU formally passed an anti-money laundering regulation (AMLR), applicable to all crypto-asset service providers (CASPs).

The laws would provide more powers to Financial Intelligence Units (FIUs) to detect and combat money laundering and terrorist financing.

As reported, Western Europe has emerged as a leading region in global crypto adoption, attracting a substantial number of daily traders, ranging from 1.2 million to 1.5 million individuals.

Another recent survey has revealed that nearly 50% of European cryptocurrency holders owned Bitcoin in February.

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BEFE is creating a strong buzz in the crypto-sphere due to its robust community, unique value proposition, and potential for riding the post-Bitcoin-halving wave. Here’s why BEFE is the next meme coin on the rise:

Innovation & Utility: The incorporation of NFTs and DeFi applications by BEFE makes it different from other meme coins that focus on short-term speculative objectives.

Environmental Awareness: It stands out because of its environmental sustainability concern.

Proven Potential: In real-world situations, BEFE has demonstrated what it can do. Its growing momentum will see early investors receiving their benefits.

The Decentralized vision of BEFE

BEFE unlike many other meme coins is a fully decentralized platform based on communities. Hence, investors get the power to influence its growth and success This means that as adoption continues to grow and there are chances for further gains, there is stable trading volumes which are consistently high.

BEFE combines the fun of a meme coin with transparency and fairness. With a community-driven approach built through strategic partnerships and sustainable innovation, it offers an attractive opportunity for investors who want something more than just a fad investment.

Significant growth of this company as the market waits for the post-halving surge is imminent with regards to BEFE’s well position in such aspect.

Market’s Momentum for BEFE

BEFE’s recent bull run with a peak of $454,794 on April 5th is indicative of strong investor interest. This massive liquidity and price volatility brought in new people who recognized the potential for substantial gains from BEFE.

Notwithstanding its fluctuations, BEFE has been trending upwards; it has seen an increase in trading volume as well as full token circulation which further reinforce the possibility of growth. Indisputably one of the next big meme cryptos that lures astute investors looking for lucrative prospects

Is BEFE a Profitable Investment?

There is optimism about BEFE’s market shown by its performance. Even though it is always going to be a volatile investment, such factors as high investor interest and overall up trend line may make it a potentially valuable addition to any well-diversified portfolio.

Given that Bitcoin could soon undergo another bull run, attaining $1 for BEFE would not be farfetched. It is one coin to watch due to its recent success and ongoing momentum. In this rapidly changing crypto space, doing a thorough research and maintaining a balanced investment strategy are always advised.

To know more about BEFE, Visit

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In the crypto market today, there’s a growing list of altcoins in circulation, which ultimately confuses most investors as they don’t understand which project to trust. That’s why investors who don’t want to take any chances try their best to observe the performances of altcoins before making any move. Bitgert coin has recently been enjoying an increase in value, which is drawing the interest of strategic investors to the token.

Since there are several projects in the market, analysts are always on their heels studying their performance on the crypto charts. Once they can spot a coin that’s moving well and has the potential to rank top in the crypto space, they maintain a bullish stance on it. This is what is happening to the Bitgert coin, and we’ll explore what’s fueling analysts’ bullishness on an upward trend for the Bitgert token.

Bitgert: Fast Speed Mechanism

One of the issues that users have faced in recent times in the crypto market is the inefficiency of the blockchain in processing their transactions. Since blockchain has always been a medium for ensuring that users find life easy when performing any digital transaction, investors have been on the lookout for crypto projects with a scalable mechanism.

Bitgert stands out in the market with its efficient mechanism, enabling users to perform a staggering 100,000 transactions per second. This unique feature has not only drawn the attention of users worldwide but has also increased the buying pressure around the coin. With Bitgert fulfilling the scalability dreams of many users, analysts are confident in the coin’s potential, driving the demand high and causing a surge in its value.

Unique Tokenomics Model

Through the Bitgert super-burning mechanism, the overall supply of the token is significantly reduced, pushing the Bitgert coin towards a deflationary model. In case you don’t understand the deflationary model, it simply means that when there’s deflation in the supply of an asset, there’s a rise in value over time, and that’s why most crypto experts continue to forecast the Bitgert coin’s value to appreciate regularly.

Analysts maintain a bullish stance on the Bitgert coin, given its continuous rise in the market and its innovative features. Bitgert is not resting on its laurels but is actively ensuring that the buzz around the token remains. If you’ve missed out on some projects in the past, rest assured, you won’t want to miss out on the Bitgert coin

To know more about Bitgert, visit

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Hongji Feng

Last updated:

May 9, 2024 04:45 EDT | 1 min read

Core Scientific announced its financial results for the first quarter of 2024, highlighting a significant recovery with a net income of $211 million.

According to its latest press release, Core Scientific’s performance this quarter marked a notable improvement from the previous year’s figures. The company attributed this turnaround to an increase in revenue generated from both Bitcoin mining and hosting services.

Core Scientific’s Strong Performance in Q1

Core Scientific reported a substantial rise in net income, achieving $210.7 million, compared to a net loss of $0.4 million in the same period last year. It produced an adjusted EBITDA of $88 million.

The company mined 2,825 bitcoins during the quarter, leveraging expanded mining capacity and operational efficiencies to boost production.

This increase in mining capability contributed significantly to the revenue, which totaled $179.3 million, marking a 49% rise from the previous year’s first quarter. The revenue from bitcoin mining alone accounted for $150 million, supplemented by $29 million from hosting services.

The release stated that Core Scientific self-mined more Bitcoin than any other publicly listed miner in North America during Q1.

Additionally, the company owns and manages approximately 745 megawatts of infrastructure, making it the largest owned infrastructure footprint among publicly listed miners in the region.

CEO Adam Sullivan Comments on Report

Core Scientific previously secured a contract with CoreWeave to provide high-performance compute hosting at a new 16-megawatt data center in Austin, which was completed and delivered more than 30 days ahead of schedule.

“We delivered outstanding results in the first quarter…strengthening our balance sheet by paying down debt and improving our cash position, and improving our fleet efficiency with the deployment of new generation miners,” said Core Scientific CEO Adam Sullivan.

“By taking full advantage of favorable market fundamentals and by focusing on productivity and efficiency, we generated strong financial performance that demonstrates our ability to create value for our shareholders,” stated Sullivan.

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Ruholamin Haqshanas

Last updated:

May 9, 2024 04:07 EDT | 2 min read

Exodus Movement, a prominent crypto wallet company, has announced a delay in its planned listing on NYSE American, the sibling market of the New York Stock Exchange.

The company revealed the development in a late Wednesday press release, citing the ongoing review by the U.S. Securities and Exchange Commission (SEC) as the reason for the delay.

NYSE American informed Exodus on Wednesday that the SEC staff was still in the process of reviewing the company’s registration statement, which had become effective at the end of April.

Exodus Class A Common Stock to Trade on OTCQX

The unexpected update from the SEC has ed Exodus to postpone its uplisting from over-the-counter (OTC) trading.

As a result, Exodus’ Class A Common Stock will continue to trade on OTCQX for the time being.

Exodus anticipated that the uplisting would create long-term value for investors by expanding the company’s global shareholder base and enhancing stock liquidity, as highlighted by CEO JP Richardson in a tweet earlier this week.

Big news!

Exodus stock $EXOD starts trading on the NYSE American this Thursday, May 9th.

This significant milestone paves the way to creating long-term value for our investors by expanding our global shareholder base and boosting stock liquidity.

LFG!

— JP (Exodus) (@jprichardson) May 6, 2024

However, with the SEC review ongoing, the company has decided to reconsider listing on a national securities exchange at a later date, once the regulatory process is complete.

Expressing surprise and confusion regarding the last-minute decision, Richardson emphasized that Exodus had been fully transparent and responsive throughout the review process.

“We remain hopeful that the SEC will follow through on its commitment to treat us as the law intends,” he said.

“Exodus has been fully transparent and responsive throughout this process and we expect a swift resolution in this matter. In the meantime, we will continue to provide the best possible service and value for our customers and shareholders.”

zkSNACKs Bans U.S. Users from Wasabi Wallet and Other Services

Exodus’ move to postpone its common stock listing on the NYSE American comes as ACINQ’s Phoenix Wallet and zkSNACKs’ Wasabi Wallet have discontinued their services for customers in the United States

The move came as a response to the recent crackdown on self-custodial cryptocurrency wallet providers by regulatory agencies.

Both companies have expressed concerns about the classification of self-custodial wallet providers as legitimate money service businesses following actions taken against Consensys, the creator of Metamask, and crypto mixer Samourai Wallet.

The recent regulatory focus on self-custodial wallets stems from concerns that they may facilitate illicit activities such as money laundering.

Consensys, the creator of MetaMask, received a Wells notice from the SEC on April 10, which warned of potential enforcement actions related to its MetaMask Swaps and MetaMask Staking products.

In another incident, the co-founders of Samourai Wallet, a cryptocurrency mixer, were arrested on charges of money laundering brought by the U.S. Justice Department and other agencies

Samourai Wallet CEO Keonne Rodriguez and chief technology officer William Hill are facing charges of conspiracy to commit money laundering and conspiracy to operate an unlicensed money transmitting business.

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