Author: Andrei Ionescu

Binance, the world’s largest cryptocurrency exchange, has announced its support for the upcoming Simon’s Cat ($CAT) airdrop for holders of $FLOKI on its platform. Users who hold at least 400,000 $FLOKI tokens on Binance will be eligible for the airdrop, which will be automatically distributed to qualifying accounts. Key Details of the Airdrop: The more $FLOKI tokens a user holds above the 400,000 minimum, the more $CAT tokens they will receive. Automatic Distribution Eligible users do not need to take any additional steps; the $CAT tokens will be credited directly to their Binance accounts following the snapshot. Final details and…

Global custody bank State Street, which oversees $44.3 trillion in assets, has partnered with Swiss firm Taurus to provide digital asset services, with an initial focus on tokenization. The move is seen as a preparatory step for offering crypto custody services once the U.S. regulatory landscape becomes more favorable. State Street’s first step will be launching tokenized versions of traditional assets, with plans to onboard its first client soon after, according to the bank. Although digital asset custody is a natural extension for the bank, the restrictive U.S. regulatory environment—specifically the Securities and Exchange Commission’s (SEC) proposed Staff Accounting Bulletin…

Mango Markets, a Solana-based decentralized finance (DeFi) platform that lost over $110 million in a 2022 exploit by Avraham Eisenberg, is considering a settlement proposal with the U.S. Securities and Exchange Commission (SEC). The regulator had accused Mango Markets of violating U.S. securities laws. The platform’s governing body, Mango DAO, opened voting on Monday for the “SEC Settlement Offer Proposal.” If approved, the proposal would require Mango to pay $223,228 in fines to the SEC, destroy its remaining MNGO tokens, and request delisting from trading platforms. The proposed settlement aims to resolve the SEC’s allegations while avoiding litigation, with Mango…

Crypto traders are pouring hundreds of millions into bitcoin (BTC) options tied to the upcoming U.S. elections, with nearly $350 million in open interest reflecting a strong bullish sentiment. These “election expiry options,” which settle four days after the Nov. 4 elections, began trading on Deribit just a month ago. According to Amberdata, the notional open interest or the total dollar value of active contracts currently stands at $345.83 million. Most of the interest is concentrated in call options, which represent 67% of the total, while the remaining 33% are put options. The resulting put-call ratio of under 0.50 indicates…

Silicon Valley startup Fabric Cryptography has raised $33 million in a Series A funding round to advance the development of a cryptography processing unit it calls the Verifiable Processing Unit (VPU). The funding round was co-led by Blockchain Capital and 1kx, with additional backing from Offchain Labs, Polygon, and Matter Labs. This follows a $6 million seed round led by Metaplanet, along with contributions from Inflection, Liquid2 Ventures, and others. The fresh capital will be used to create specialized computing chips, software, and cryptographic algorithms for the VPU, a custom silicon chip designed specifically for cryptography. According to the company’s…

Research and brokerage firm Bernstein reports a surge in investor interest surrounding bitcoin miners pivoting toward artificial intelligence (AI) and high-performance computing (HPC) data centers. In a note shared on Monday, analysts Gautam Chhugani, Mahika Sapra, and Sanskar Chindalia highlighted the rising trend of bitcoin miners exploring opportunities beyond cryptocurrency mining and into the burgeoning AI sector. The shift, commonly referred to as the “Mullet” strategy, involves AI data centers at the forefront of operations while continuing bitcoin mining activities in the background. Bernstein’s report described the current mining industry as being nearly split between those staying focused on bitcoin…

This integration allows users on the Aptos network to transact with USDT at lower costs compared to more expensive networks like Ethereum. “This collaboration underscores our ongoing efforts to lead with innovation and support our users with stable, reliable financial tools,” said Tether CEO Paolo Ardoino in a statement. Aptos is a Layer 1 blockchain developed by former Meta engineers Mo Shaikh and Avery Ching, who were key figures in Facebook’s blockchain project, Diem. The platform is designed to provide scalable, user-friendly infrastructure for decentralized applications (dApps) and smart contracts. While Tether has expanded USDT to multiple blockchains in recent…

Pump.Fun, a memecoin generator on the Solana blockchain, is poised to surpass $100 million in cumulative revenue just eight months after its launch. According to data from DeFiLlama, the platform’s current revenue sits at $94.5 million, a significant jump from $50 million at the end of June. The platform, which allows users to easily create and trade memecoins, has facilitated the deployment of over 1.8 million tokens since its launch at the beginning of 2024. Pump.Fun’s success has largely been driven by Solana’s low transaction costs and its bonding curve pricing model, which offers predictable price increases as more buyers…

Goldman Sachs has reduced the likelihood of a U.S. recession in the next year to 20%, down from its previous estimate of 25%, according to a report released. The report, led by chief economist Jan Hatzius, cites strong retail sales and improved unemployment data as key reasons for the adjustment. The bank hinted that if upcoming labor market data for August is favorable, the recession probability could be further reduced to 15%. Goldman’s report also signals increased confidence that the Federal Reserve might lower interest rates by 0.25% in September. However, the economists note that a weak jobs report on…

Google is facing legal action after taking three months to remove a scam app that defrauded users of over $5 million in cryptocurrency. The lawsuit was filed by Florida resident Maria Vaca, who claims she was misled into downloading the fraudulent app, Yobit Pro, from the Google Play Store. According to the lawsuit, Vaca began investing in cryptocurrency through Yobit Pro between February and July 2023, believing her investments were growing. At one point, the app displayed a balance of around $7 million. When she attempted to withdraw her funds, she was told to pay $500,000 in “taxes,” which she…