Author: Andrei Ionescu

Japanese investment firm Metaplanet Inc. has secured a $6.8 million loan to increase its Bitcoin holdings, reflecting its bullish stance on the cryptocurrency’s future. The announcement comes amid strategic financial maneuvers and market volatility. Metaplanet Inc., a Tokyo-listed investment firm, has taken out a 1 billion yen ($6.8 million) loan with a remarkably low annual interest rate of 0.1%. The firm announced today that the majority of these funds will be directed toward purchasing additional Bitcoin, underscoring its confidence in the cryptocurrency’s long-term value. In a statement, Metaplanet outlined its strategy: “We plan to allocate nearly the entire loan amount…

Binance is set to list Toncoin (TON) and open trading for four new spot trading pairs on Thursday, as activity on the TON blockchain surges. The exchange will launch trading for TON/BTC, TON/USDT, TON/FDUSD, and TON/TRY. Binance announced today that it will list Toncoin (TON) and introduce four spot trading pairs starting at 10 a.m. UTC on Thursday. The new pairs will include TON/BTC, TON/USDT, TON/FDUSD, and TON/TRY. Users can begin depositing TON to Binance in advance of the listing, with withdrawals scheduled to open at 10 a.m. UTC on Friday. Notably, the listing fee for TON is set at…

Bitcoin’s recent price rebound, following a sharp correction earlier this week, has been primarily supported by institutional investors, according to JPMorgan analysts. Despite a significant drop of over 15% on Monday, institutional interest in bitcoin futures remains strong, with minimal de-risking observed. On Monday, cryptocurrency markets experienced their steepest decline since the FTX crisis, with Bitcoin’s price plummeting more than 15% before staging a recovery. JPMorgan analysts, led by managing director Nikolaos Panigirtzoglou, attributed this rebound to sustained support from institutional investors. Their report, published on Wednesday, highlights that these investors showed limited to no reduction in their bitcoin futures…

The São Paulo Civil Police have dismantled a significant money laundering scheme run by the notorious drug gang First Capital Command (PCC). The criminal operation was disguised as a cryptocurrency exchange, which handled transactions totaling approximately 500 million reais ($89 million). On Tuesday, São Paulo’s Civil Police announced the successful dismantling of a money laundering network operated by the First Capital Command (PCC), a major drug gang in Brazil. The criminal group utilized a company posing as a crypto exchange to launder substantial sums of money. According to a CNN report, the company in question processed transactions amounting to around…

Binance Labs, the $10 billion venture capital and incubation arm of Binance, has made a strategic investment in Solayer, a Solana restaking protocol. This investment highlights Binance Labs’ continued commitment to expanding its portfolio in the staking and restaking sectors across various blockchain ecosystems. Binance Labs has invested an undisclosed amount in Solayer, a protocol designed for restaking on the Solana blockchain. The move underscores Binance Labs’ strategic focus on the staking and restaking verticals within the cryptocurrency space. This investment is part of a broader trend, with Binance Labs having previously backed several staking projects, including Ethereum’s Puffer Finance…

Hong Kong’s virtual bank, Mox, a subsidiary of Standard Chartered, has launched bitcoin (BTC) and ether (ETH) exchange-traded funds (ETFs) on its investment platform. Additionally, Mox plans to introduce direct cryptocurrency investments through a partnership with licensed exchanges. Mox Bank announced on Wednesday that it has begun offering BTC and ETH ETFs to its clients. This move comes shortly after the launch of its investment platform in Hong Kong. The bank’s entry into the crypto space reflects growing interest in digital assets, despite relatively low demand for such products in the region. Barbaros Uygun, CEO of Mox, highlighted the bank’s…

In a move that could provide relief for the cryptocurrency market, the Bank of Japan (BOJ) signaled on Wednesday that further interest rate increases in 2024 are unlikely. This announcement has buoyed Bitcoin and other digital assets, which had recently experienced significant declines. The BOJ’s announcement came as a reassuring signal amid recent market volatility. Deputy Governor Shinichi Uchida stated that Japan’s economic conditions do not necessitate an immediate interest rate hike, suggesting that the Japanese economy is not in a position where it risks falling behind if rates are held steady. “Japan’s economy is not in a situation where…

CoinShares, a prominent crypto asset manager, reported a remarkable profit of £404 million ($513.1 million) for the second quarter of 2024, a significant increase from £10 million in the same quarter last year. The firm’s assets under management nearly doubled during the period, reflecting its robust performance and strategic expansion. In its latest earnings report, CoinShares disclosed a substantial rise in profits after tax, marking a substantial improvement from the previous year’s figures. The firm’s total assets under management surged from $2.7 billion to $5.3 billion, underscoring its rapid growth and increased market share. Despite the strong profit figures, CoinShares…

Memecoins on the Solana network have seen a significant surge, rising over 30% in the past 24 hours. This uptick comes as Solana’s native token, SOL, rebounds sharply from earlier losses, leading gains across the crypto market. In a remarkable recovery, memecoins on the Solana blockchain, such as popcat (POPCAT) and dogwifhat (WIF), have surged as much as 25% before slightly retreating. Smaller tokens like MUMU and catdog (CATDOG) have risen by 30%, according to recent data. This strong performance contrasts with major memecoins on other blockchains, such as dogecoin (DOGE) and pepe (PEPE), which have experienced declines of up…

OKX to Delist Several Spot Trading Pairs Cryptocurrency exchange OKX has announced the delisting of several spot trading pairs as part of its ongoing efforts to maintain a high-quality trading environment. The affected pairs will be removed on August 9, 2024. OKX has decided to delist the following trading pairs: MSN/USDT, OMN/USDT, REP/USDT, BTC/EURT, ETH/EURT, EURT/USDT, IGU/USDT, PCI/USDT, and SLN/USDT. This decision comes after a review of the performance and listing qualifications of these pairs, in accordance with user feedback and the OKX Token Delisting/Hiding Guideline. The delisting will be executed between 8:00 am and 8:30 am UTC on August…