Author: Andrei Ionescu
Justin Sun, the founder of Tron and prominent crypto figure, is making a bold move into the booming memecoin market with the launch of SunPump, a new platform allowing users to create their own memecoins on the Tron blockchain. This new decentralized finance (DeFi) project is part of Sun.io, the DeFi protocol associated with Sun. The platform is set to compete with Solana’s popular equivalent, pump.fun, which has seen transaction fees spike to an all-time high of $5.3 million in a single day this week. Memecoins, often launched as humorous or speculative tokens, have become a significant aspect of the…
South Korea’s National Pension Service (NPS), the world’s third-largest pension fund by assets, purchased $33.7 million worth of MicroStrategy shares in the second quarter of 2024. The NPS’ recent filing with the U.S. Securities and Exchange Commission revealed the acquisition of 24,500 MicroStrategy shares as part of its broader strategy to increase indirect exposure to Bitcoin. This move follows NPS’ previous investment in Coinbase, where the fund bought 282,673 shares worth $19.9 million in Q3 2023. As of June 2024, NPS held 229,807 Coinbase shares, valued at around $51 million. The report also indicated a slight reduction in Coinbase holdings…
Donald Trump Jr. took to social media on Thursday to unveil a new Telegram channel, “The Defiant Ones,” as part of a broader rollout for an upcoming cryptocurrency project linked to his father, former President Donald Trump. In a post on X (formerly Twitter), Trump Jr. encouraged followers to join the Telegram channel to receive official updates and avoid speculation about the project. “A lot of rumors are swirling about our crypto project,” he wrote. “To get the real story and stay updated with official announcements, join our official Telegram channel. Don’t rely on speculation—get the news directly here!” The…
Stablecoin supply has been increasing in U.S. dollar terms, but this growth is not impacting the overall market share of cryptocurrencies, according to a report released by JPMorgan on Wednesday. The bank’s analysis reveals that stablecoins have maintained a consistent share of the total cryptocurrency market capitalization this year. Stablecoins, cryptocurrencies typically pegged to the U.S. dollar or other assets like gold, have seen their market cap rebound to $165 billion. This figure is approaching the previous high of $180 billion reached before the Terra/Luna collapse. JPMorgan’s analysts, led by Nikolaos Panigirtzoglou, noted that despite the rise in stablecoin supply,…
Floki, a prominent player in the cryptocurrency world, has secured a major partnership with Nottingham Forest Football Club for the upcoming Premier League 2024/2025 season. This announcement follows Floki’s recent unveiling of its marketing campaign with Valhalla, which will span the entire Premier League. The deal positions Floki as the Official Cryptocurrency Partner of Nottingham Forest, marking a significant milestone as the brand gains exposure in one of the world’s most-watched sports leagues. Nottingham Forest, a historic club with a storied legacy, is known for its back-to-back European Cup victories in the late 1970s, an achievement shared by only eight…
Bitcoin (BTC) experienced a notable decline on Thursday, falling over 4% in the past 24 hours to trade around $58,000. This drop nearly erased all gains from the previous week and was part of a broader trend of losses across major cryptocurrencies. Ether (ETH) also saw a significant decrease, falling 3.8%, while Solana (SOL), Cardano (ADA), BNB Chain (BNB), and Ripple (XRP) saw more modest declines of around 2.5%. The sharp decline in Bitcoin and other major cryptocurrencies followed the release of the July U.S. Consumer Price Index (CPI) data, which showed a 2.9% year-on-year increase, marking the first time…
Morgan Stanley Discloses $187 Million Position in BlackRock’s Spot Bitcoin ETF, Sells Off GBTC Holdings Morgan Stanley, the multinational investment bank, has revealed a substantial $187.79 million position in BlackRock’s iShares Bitcoin Trust (ticker: IBIT), according to its latest Form 13F filing with the U.S. Securities and Exchange Commission. As of June 30, 2024, Morgan Stanley owned more than 5.5 million shares of the spot Bitcoin exchange-traded fund (ETF), positioning itself as one of the top five shareholders in the fund. The investment bank also disclosed ownership of 26,222 shares of the ARK 21Shares Bitcoin ETF (ticker: ARKB), valued at…
Binance has announced an agreement with Brazil’s Securities and Exchange Commission (CVM) to resolve regulatory issues that have been ongoing since 2020. The settlement marks a significant development after the CVM had previously barred the exchange from offering derivatives products in Brazil. The ban, imposed in 2020, was based on the CVM’s determination that derivatives contracts qualify as securities, and Binance lacked the necessary authorization to operate as a securities intermediary within the country. Under the new agreement, Binance has agreed to pay 9.6 million reais, equivalent to approximately $1.75 million USD, as part of the settlement with the CVM.…
MetaMask has announced the pilot launch of its new MetaMask Card, a crypto debit card powered by Mastercard and fintech platform Baanx. This innovative card enables users of the popular crypto wallet to spend their cryptocurrency for everyday purchases. Limited Pilot Phase The MetaMask Card is initially available as a digital-only product, with a limited release targeting a few thousand users across the European Union and the United Kingdom. The card’s availability in this pilot phase is aimed at testing its functionality and user adoption before a broader rollout. On-Chain Crypto Management To use the MetaMask Card, users must hold…
Inflation in the United States for July largely met expectations, setting the stage for the Federal Reserve to potentially lower interest rates at its upcoming mid-September meeting. The Consumer Price Index (CPI) rose by 0.2% in July, according to a government report released Wednesday. This increase follows a 0.1% decline in June and aligns with expectations for a 0.2% rise. On a year-over-year basis, the CPI increased by 2.9%, slightly below the anticipated 3% and down from 3% in June. Core CPI, which excludes food and energy costs, also rose by 0.2% in July, matching expectations and up from 0.1%…