Author: News Room
Solana is showing peak activity, though not only meme tokens are responsible for the increased growth. Stablecoins have been flowing into Solana at peak levels. Solana reached a record for daily stablecoin inflows. In the past few weeks, Solana has been increasing its value locked, to over $8.39B, of which around $4.5B are in the form of bridged stablecoins. The supply of stablecoins on Solana increased to levels not seen since the crash of FTX at the end of 2022. The bulk of the growth came from USDC, which added another 1B tokens from October 20 to date. Solana saw…
Ethereum price is setting the stage for a potential rally toward $4,000 after solidifying support around the $3,000 level. The cryptocurrency has seen increased buying activity in this range, alongside a bullish breakout and imminent technical indicators, suggesting further upward momentum. As Ethereum consolidates its position, market participants anticipate a continuation of this positive trend fueled by strong demand and on-chain dynamics. Read the full article here
Binance, the world’s largest crypto exchange, says it expects to have 645 full-time compliance employees on staff by the end of the year — a 34% increase from last November — as it continues to rapidly build out its compliance department. Including contractors, the crypto exchange already has over 1,000 employees focused on compliance, according to a Friday press statement from Binance. Binance’s intense focus on regulatory compliance is relatively new for the crypto exchange, which just one year ago, agreed to pay a massive $4.3 billion fine to various U.S. regulators for violating the Bank Secrecy Act (BSA) and…
Donald Trump’s victory signaled a vital shift in crypto sentiment, moving from cynicism to a defiant belief in the growth of cryptocurrencies in the U.S. Crypto to Witness Massive Gains Under Trump Presidency Bybit, a cryptocurrency exchange, and Blocks Scholes published their latest institutional report with key takeaways from the U.S. election and the crypto market’s reaction to America’s first “crypto president.” The publication noted that institutional investors have developed a desire to acquire more bitcoin with promising economic conditions, and potential rate reductions all favorably influencing bitcoin’s future, given its growing link with macro assets. The report analysis also…
An advisory committee of the Commodity Futures Trading Commission has voted in favor of allowing tokenized assets to be used as collateral for margin trading. The CFTC’s Global Markets Advisory Committee forwarded the recommendation around these blockchain or distributed ledger technology assets via its digital assets markets subcommittee, according to a press release on Nov. 21. The proposals will now proceed to the full GMAC Committee, with the next steps to be determined by the CFTC, the U.S. derivatives markets regulator. This development could lead to tokens of money-market funds like BlackRock’s BUIDL and Franklin Templeton’s FOBXX being used as…
MetaMask, a leading Ethereum wallet, launched its new Gas Station feature, enabling users to conduct token swaps without needing ETH for gas fees. This feature, also known as gas-included swaps, is now live for MetaMask Extension users on the Ethereum mainnet, with a mobile rollout planned soon. The initiative aims to simplify transactions, removing a longstanding barrier for users within the decentralized finance (DeFi) ecosystem. For many web3 users, running out of ETH to cover gas fees has been a frustrating hurdle. Traditional solutions involve purchasing ETH on centralized exchanges and transferring it to on-chain wallets. However, this process is…
Chinese banks have implemented additional compliance measures for payments from the United Arab Emirates (UAE), India, and Hong Kong, which have traditionally served as trade partners for Russia. These measures aim to identify Russian businesses using third countries as proxies to complete payments. Chinese banks now require documentation confirming that goods will be sent directly […] Read the full article here
Analyst and trader Ali Martinez is leaning bullish on one large-cap crypto asset while offering his insight on Bitcoin (BTC) and two altcoins. Martinez tells his 85,900 followers on the social media platform X that BNB, the native token of the BNB Chain ecosystem, could skyrocket by 164% from the current level if it manages to convincingly break above a major resistance level. “BNB could be about to break out. I’m waiting for a weekly close above $662 for a potential move to $1,630!” BNB is trading at $617 at time of writing. Next up is Bitcoin. According to Martinez,…
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Texas-based fitness maker Interactive Strength plans to allocate $5 million in Bitcoin as part of its treasury strategy. Interactive Strength, a maker of specialty fitness equipment, said Thursday its board has approved allocating up to $5 million in Bitcoin (BTC), subject to a cap of 25% of the company’s average daily cash holdings over the past three months. In a Nov. 21 press release, the Austin-headquartered company said it plans to hold Bitcoin as a treasury reserve asset, saying the cryptocurrency’s “inflation-resistant characteristics may make it a reliable asset as a functional store of value.” Interactive Strength CEO Trent Ward…