Author: Andrei Ionescu
Crypto lending platform MakerDAO, the protocol behind the DAI stablecoin, has announced plans to introduce an optional conversion of MKR tokens to a newly-issued governance token, NewGovToken (NGT). The conversion aims to increase governance participation within the platform. Under the new system, MKR holders can exchange one MKR token for 24,000 NGT tokens. The initiative is designed to make governance more accessible, as users will hold a larger quantity of NGT tokens, potentially encouraging greater participation in governance votes. Currently, MKR is trading at $2,084, with a total supply of 977,631. The high nominal value and limited supply of MKR…
According to a recent research report by JPMorgan, the value of the remaining 1.3 million bitcoins yet to be mined is approximately $74 billion at current market prices. The Wall Street bank also revised its price targets for several major bitcoin mining companies, reflecting updated second-quarter earnings and changes in both bitcoin’s price and the network’s hashrate. The bank cut its price target for CleanSpark (CLSK) from $12.50 to $10.50 while maintaining a neutral rating on the stock. Similarly, Iren (IREN) saw its price target reduced from $11 to $9.50, although it remains rated as overweight. Marathon Digital (MARA), which…
OKX has announced the upcoming delisting of several spot trading pairs, including FITFI/USDT, GARI/USDT, XPR/USDT, AKITA/USDT, TAMA/USDT, and WNCG/USDT. The move comes as part of the exchange’s ongoing effort to maintain a high-quality trading environment by regularly reviewing the performance of listed pairs in accordance with its Token Delisting/Hiding Guideline and user feedback. The delisting is scheduled to take place between 8:00 am and 8:30 am UTC on August 30, 2024. OKX has advised users to cancel any orders associated with these trading pairs before the delisting time. Any remaining open orders will be automatically canceled by the system, with…
The decentralized finance (DeFi) sector is gearing up for a resurgence, with the total value locked (TVL) across the crypto ecosystem potentially reaching new all-time highs in the first half of 2025, according to a report by Steno Research published on Friday. Despite current TVL levels remaining below their 2021 peak, analysts expect a significant revival driven by several key factors. The report highlights the influence of U.S. interest rates on the DeFi market, which remains largely dollar-centric. “Interest rates are the most critical factor influencing the appeal of DeFi, as they determine whether investors are more inclined to seek…
U.S. spot bitcoin exchange-traded funds (ETFs) recorded $64.91 million in net inflows on Thursday, marking six consecutive days of positive flows. The steady inflows underscore continued investor interest in bitcoin despite market fluctuations. Among the ETFs, BlackRock’s IBIT, the largest spot bitcoin ETF by assets, led the charge with $75.49 million in net inflows, according to data from SoSoValue. Fidelity’s FBTC ETF also saw significant activity, bringing in $9.23 million, followed by Ark and 21Shares’ ARKB with $7.83 million. Other notable inflows included WisdomTree’s BTCW at $4.8 million, Grayscale’s BTC ETF at $4 million, and VanEck’s HODL ETF with $3.41…
Colombia’s Superintendence of Industry and Commerce (SIC) has formally notified Worldcoin and its parent company, Tools for Humanity, of alleged violations of the country’s personal data protection laws. The decentralized identity project is currently collecting biometric data from individuals using its Orb device in 25 locations across Colombia. In a statement released Tuesday, the SIC outlined the details of its investigation, marking the first formal notice of potential infractions. The notification is a preliminary step and does not yet constitute a formal accusation. “The purpose of the proceedings is to determine whether the investigated companies have infringed the Colombian personal…
Grayscale Investments, the world’s largest crypto asset manager, has introduced the Grayscale Avalanche Trust, its newest investment product designed to provide accredited investors with exposure to Avalanche (AVAX). This launch reflects Grayscale’s strategy of offering diversified opportunities in the evolving crypto landscape. Avalanche, a multi-chain smart contract platform, is recognized for its scalability, security, and decentralization. The platform has made significant strides in real-world asset (RWA) tokenization through its partnerships with leading companies, helping to bridge the gap between traditional finance and blockchain technology. “The launch of Grayscale® Avalanche Trust underscores our ongoing commitment to delivering innovative investment options,” said…
Michelle Bond, a former congressional candidate with ties to the now-defunct cryptocurrency exchange FTX, has been charged with conspiring in an unlawful campaign finance scheme, according to an indictment unsealed by the U.S. Attorney’s Office for the Southern District of New York. Damian Williams, the U.S. Attorney, announced the charges against Bond, accusing her of using illegally obtained funds to finance her 2022 run for a U.S. House seat in New York’s 1st district. The indictment alleges that Bond conspired with her partner, former FTX executive Ryan Salame, to funnel corporate funds into her campaign. “Michelle Bond allegedly financed her…
The Bitcoin staking protocol Babylon has officially launched the first phase of its self-custodial mainnet, enabling users to stake their BTC via smart contracts. According to Babylon, the platform has already seen strong engagement, with 12,710 stakers conducting over 20,600 staking delegations. In a statement shared on X (formerly Twitter), Babylon highlighted that this launch represents a significant milestone for Bitcoin by introducing a third native use case beyond its traditional role as a store of value and a payment method: staking to secure proof-of-stake (PoS) networks and earn rewards. The self-custodial mainnet launch was teased by Babylon on August…
Binance Labs has announced investments in four exceptional projects from BNB Chain’s MVB (Most Valuable Builder) Season 7, marking a significant milestone for the innovative teams within the Web3 ecosystem. The MVB Program, renowned for its competitive nature, attracted over 700 applications, with less than 2% of projects making it through the selection process. The MVB initiative, a collaborative effort between BNB Chain, Binance Labs, and CMC Labs, is designed to accelerate the growth of Web3 innovators by providing vital resources and support. Out of 13 standout teams chosen for Season 7, four secured investments from Binance Labs, underscoring their…