Rubio: US and Iran to continue technical consultations at the end of this month
Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)
6 hours ago
Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.
According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.
6 hours ago
Bitcoin falls below $60,000
According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.
6 hours ago
US Treasury Secretary: AI boom may boost productivity and help curb inflation.
US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.
6 hours ago
US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.
According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.
6 hours ago
During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.
According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.
Fidelity Investments and Canary Marinade have launched new spot exchange-traded funds tracking Solana, expanding regulated investor access to one of the fastest-growing blockchain ecosystems. Fidelity’s fund, listed under the ticker FSOL on NYSE Arca, introduces a low-cost entry point with a management fee of 0.25 percent. Canary Marinade’s offering, SOLC, debuts on Nasdaq with a 0.50 percent fee and a staking-enabled structure in partnership with Marinade Finance. The launches bring the total number of U.S. spot Solana ETFs to five, signalling escalating institutional interest in altcoin-focused investment products.
Both fund issuers enter the market at a time of heightened volatility for Solana. Despite increased inflows into existing Solana ETFs, the asset has experienced meaningful price pressure, reflecting shifting risk sentiment and a broader retracement across crypto markets. Even so, the introduction of additional regulated vehicles demonstrates accelerating demand for alternative digital-asset exposure beyond Bitcoin and Ethereum.
Staking, fees and product structure Fidelity and Canary Marinade have taken distinct approaches in designing their Solana ETFs. Fidelity’s FSOL prioritises affordability and broad accessibility, underpinned by a straightforward spot-Solana structure. Its 0.25 percent management fee positions it competitively among crypto ETFs, aiming to attract long-term investors seeking cost efficiency.
In contrast, Canary Marinade’s SOLC distinguishes itself with a staking-enabled model that integrates with Marinade Finance’s established staking infrastructure. By converting Solana staking rewards into potential additional returns for fund participants, SOLC targets yield-oriented investors looking for enhanced exposure. The higher 0.50 percent fee reflects this expanded functionality.
These launches coincide with the U.S. Securities and Exchange Commission’s newly implemented generic listing standards for spot crypto ETFs. The revised framework streamlines the approval process and allows national exchanges to list such products through a standardised rule set rather than a bespoke filing process. This regulatory evolution has enabled faster time-to-market for alternative crypto ETFs, fuelling innovation across the sector.
Market outlook and investor considerations The arrival of two new Solana ETFs provides investors with diversified options for accessing the asset through regulated markets. Early inflow data suggests that institutional interest remains strong despite Solana’s recent price decline. Market participants appear to be positioning ahead of a potential recovery, drawn by Solana’s high throughput, low transaction costs and expanding ecosystem of consumer-facing applications.
Nonetheless, key risks remain. Solana’s volatility, the operational complexity of staking mechanisms and broader macroeconomic uncertainty may affect fund performance. For investors evaluating these new products, fee structure, staking risk and liquidity considerations will play a central role in portfolio construction.
The combined launch of FSOL and SOLC signals a maturing landscape for altcoin investment products. As regulated infrastructure expands, Solana’s presence within institutional portfolios may strengthen, offering a broader range of exposure pathways for both traditional and digital-native investors.
BitGo has recently partnered with Canary Capital for the roll-out of its Canary Marinade Solana ETF (SOLC), which is a spot ETF that incorporates Marinade’s staking protocol to provide investors with exposure to Solana (SOL) while participating in the network’s staking rewards.
This launch marks a key milestone, as BitGo’s infrastructure now offers the foundation that transforms Canary Capital’s and Marinade’s product into an accessible, regulated financial product.
Canary Capital has reportedly established itself as a force in the digital asset space, “bringing a collection of ETFs to market.”
BitGo has served as the operational foundation for these launches, highlighting the platform’s “security, scalability, and operational maturity.
As the Solana ecosystem continues to expand, the launch of SOLC confirms market demand and offers institutions and investors “a regulated pathway to engage with the network’s performance and activity.”
SOLC is built on the technical achievement of integrated regulated qualified custody with “the dynamic nature of a decentralized protocol.”
BitGo Trust Company, Inc. (BitGo Trust) provides the operational framework that safeguards the fund’s SOL while also “enabling its investors to earn staking rewards directly from regulated qualified custody.”
BitGo Trust’s multi-layer security and $250M in insurance in the event of loss, theft, or misuse of keys, combined “with Marinade’s decentralized staking model delivers confidence to investors.”
With Marinade’s model, staked assets are distributed “across a broad validator set and maintains liquidity for SOL within the Solana network.”
This allows the funds to participate in staking rewards while “preserving alignment with Solana’s design principles, maintaining liquidity and operational simplicity.”
The launch of SOLC builds on Canary Capital’s ETF updates, including the Canary Litecoin ETF (LTCC), Canary HBR ETF (HBR), and Canary XRP ETF (XRPC). Each product relies on BitGo’s infrastructure to meet “the security and scalability requirements of institutional-grade offerings.”
The partnership between BitGo, Canary Capital, and Marinade establishes how regulatory compliance can now be “achieved in the digital asset market and showcases a multi-faceted achievement bringing digital assets mainstream worldwide. ”
SOLC is a spot Solana ETF launched by Canary Capital. It provides exposure to SOL while participating in “staking rewards through Marinade’s staking protocol.”
As mentioned in the announcement, BitGo Trust Company, Inc. serves as Canary Capital’s qualified custodian, providing “regulated custody, multi-layer security, and support for staking-related operational workflows.”
As stated in the blog post, SOL is held in SOLC and staked via Marinade, which distributes stake “across validators and returns staking rewards to the ETF structure.” This allows the fund to “reflect network activity while maintaining liquidity and operational simplicity.”
As explained in a blog post by BitGo, Solana reportedly offers high throughput, low transaction costs, and “broad developer adoption across payments, DeFi, and onchain applications.”
SOLC is designed to align with these “network characteristics.”
As clarified in the update , SOLC does not use derivatives or synthetic exposure.
Rather, it is said to be “structured to hold spot SOL.”
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Solana’s staking ecosystem accelerated in 2025, driven by both retail users and institutions. Native staking remained the dominant pillar, supported by elevated yields during the 2024–2025 cycle. Marinade, as one of the pioneers in this field, grew in native staking. Its native staking product consistently delivered high performance, with peak APY reaching double digits (11.64%) during November 2024 and remaining competitive through 2025.
Liquid staking tokens also continued their upward trajectory in 2025, increasing from roughly 11% of all staked $SOL in early 2025 to over 14% by October. During this period, $JitoSOL, $dzSOL, and $bnSOL grew significantly, while $mSOL shifted to fifth place. This shift highlights intensifying competition among LSTs and signals a broader strategic recalibration for Marinade as market dynamics evolve.
Shift Toward Native Staking in 2025 Marinade’s overall staking footprint rebounded as $SOL’s market recovery gained momentum. By Q3 2025, its total staked $SOL surpassed 10M, but the more significant development was the clear shift toward Native staking, which overtook the protocol’s LST segment and established itself as the dominant component.
While LSTs continued to offer meaningful advantages, enhancements to delegation infrastructure, refined reward mechanisms, and the introduction of features such as instant unstake enabled the Native segment to demonstrate materially stronger and more sustained growth.
Speaking to SolanaFloor about this shift, Michael Repetný, co-founder of Marinade Finance, explained the dynamics behind this transition:
“Institutions and retail alike still prefer safety and security over liquid staking. Marinade launched with Bitgo integration and another native staking integrations to be announced soon, so we expect that trend to follow. While we do have an exciting product for mSOL too to be announced with an ecosystem partner. So we shall see what product wins in 2026.”
Institutions Enter the Staking Layer 2025 marked a turning point for institutional adoption. Asset managers and custodians are increasingly integrating staking into their products, beginning with ETPs and eventually expanding into treasury allocations. VanEck’s staking-enabled Solana ETP signaled the first wave of TradFi interest, addressing dilution concerns by incorporating staking yield directly into fund performance.
Rapid Institutional Growth of Marinade Select Marinade became a central infrastructure partner for institutions. Marinade Select, the protocol’s enterprise‑grade staking service, offered a curated validator set with audited performance, slashing protection, and strict operational standards. Partnerships with BitGo, Zodia, and Copper strengthened this positioning.
By mid‑2025, Marinade Select had become the designated staking backend for institutional products, including the Canary Solana ETF (SOLC). Corporate adoption accelerated, and by November 2025, Marinade Select’s TVL surpassed 3.1M $SOL (~ $436M), representing a threefold growth within the month. Notably, this expansion occurred in less than six months, underscoring the rapid pace at which institutions adopted Solana staking through Marinade’s infrastructure.
When asked about the current sentiment among institutional players toward Solana staking yields, associated risks, and the scale of allocations they are now prepared to deploy, Repetný offered his perspective:
“Everyone is cautious but def more open towards more risky products like LSTs and DeFi, which is a slight shift since the new administration. There's extreme margin compression in the institutional space, leaving validators with close to zero upside since the alternative for the institution is to spin up their own node themselves. What's going to be interesting is how the institutions adapt to a more versatile environment with multiple MEV engines like Harmonic, Paladin etc.”
Institutional Staking Becomes Marinade’s New Growth Engine Marinade’s core business historically centered on liquid staking through $mSOL, but the rapid rise of its institutional‑grade product signals a major market shift. With Marinade Select surpassing 3.1M $SOL in TVL by November 2025, the growth trajectory suggests this segment may soon become the primary pillar of the protocol’s business.
A key question arises: why do institutions continue to choose Marinade Select despite its comparatively lower APY? Repetný provided a more formal perspective on the institutional considerations driving this shift:
“Marinade Select is a KYC-only product built on top of known and reputable community validators, making it a superior choice to decentralize Solana in the best way possible, avoiding sybils and questionable validators, while staying competitive in yield. We expect Select APY to be on par with self-staking yield very soon, with more announcements to come.”
Outlook Solana’s staking ecosystem enters 2026 with growing indications that institutional staking may become the dominant trend of the next cycle. Native staking remains essential for network security, while liquid staking continues to support DeFi activity. However, institutional‑grade staking is rapidly emerging as a strategic pillar of the ecosystem. Marinade’s evolution from a liquid staking pioneer to a leading institutional partner through Marinade Select positions it as a major contributor to this shift. The protocol’s ability to offer vetted validators, operational assurances, and compatibility with custodial infrastructure underscores why institutions increasingly rely on it.
Read More on SolanaFloor Trading of Cross‑Chain Tokens on Solana: $MON and $ZEC Exceed $1B in DEX Volume
Amidst undeniably choppy markets, Solana’s staking landscape continues to show strength and resilience.
Despite $SOL dropping 47% in the last 3 months, investors are steadily growing their stake in the network, with LST adoption hitting all-time highs and the chain’s staking rate reaching its highest point since January 2024.
Solana’s staking boom continues to benefit the network’s OG operators, like Marinade Finance, which has grown the TVL of its institutional staking product, Marinade Select, by 60% in six months.
Solana Staking Rate Hits 2-Year High As institutional interest circles the crypto industry, investors are adding $SOL to their staking accounts at record levels. According to Blockworks data, over 425.7M $SOL, the highest-ever $SOL-denominated figure, is now staked to the network.
This brings Solana’s Stake Rate to its highest point since January 2024 at just over 68.9%, dominating the staking rate of rival networks. Comparatively, competing Layer-1s chains like Ethereum and BNB Chain have far lower staking adoption rates of 30% and 18.4%, respectively.
Additionally, Solana’s liquid-staking rate is showing no signs of slowing down. Despite the influx of institutional capital flowing into Solana ETFs, liquid staking continues to gain ground, rising to new all-time highs of 15.64%.
Staking providers like Marinade, who offer optimized native and liquid staking services through its Stake Auction Marketplace, are ideally positioned to capture this flow. With staking adoption increasing across the network, Marinade’s specialized offerings are trending upwards.
Marinade Select TVL Up 60% In Six Months Aimed at institutional investors, Marinade Select offers a curated stake pool of KYC-verified, reputable, SOC-2 compliant validators. By offering a premium validator set, Marinade establishes itself as a trusted staking operator for institutional players seeking reliable yield on their $SOL holdings.
In the last six months, Marinade Select’s $ SOL-denominated TVL has increased by 87.13%, rising from 863k $SOL in July 2025 to over 1.6M $SOL in January 2026. This growth is supported by Solana ETF growth, with issuers like Canary Capital opting to stake their $SOL holdings through Marinade Finance.
Over $1.1M Committed to $MNDE Buybacks Since August In August 2025, Marinade Finance debuted its buyback program, promising to allocate 50% of protocol revenue towards repurchasing $MNDE and directly value flow to token holders. Since the launch of the mechanic, over $1.17M worth of $MNDE has been taken off the market and sent to the DAO treasury.
More recently, Marinade DAO has moved away from buybacks to grow $mSOL liquidity. Since passing MIP-17 in December, Marinade DAO has paused $MNDE buybacks, instead directing these funds to growing liquidity in $mSOL, the protocol’s LST.
Since the change, $mSOL supply has increased by around 22.3k tokens. This brings the total supply to to 2.54M $mSOL, valued at around $434M USD and capturing 5.18% of Solana’s LST market.
Read More on SolanaFloor $SKR is finally here
Solana Mobile Airdrops $20M in $SKR to Early Adopters - What’s Next For Seeker?
SolanaFloor Sits Down with Marinade Co-Founder Michael Repetny
For years, Marinade Finance has been one of Solana’s most reliable staking operators, enabling $SOL holders to earn optimized yield on their stake.
Today, Marinade Finance expands its offering to include $USDC rewards. Joining forces with RockawayX and Kamino, Marinade is launching its proprietary stablecoin savings product, enabling users to earn up to 6% APY on $USDC deposits.
The launch echoes a wider trend playing out across the DeFi economy, wherein crypto natives are storing their wealth onchain regardless of market dynamics.
Marinade’s $USDC Vault to Target 4-6% APY The Marinade USDC Vault is a stablecoin savings product that lets users earn yield on $USDC without leaving the Marinade ecosystem. The vault targets a variable 4-6% APY on deposited $USDC, with yield subject to prevailing market conditions.
Moving out of staked $SOL into cash can be a cumbersome affair. Offramping to fiat costs the average user around 2% in compounded fees, and can sometimes take several days.
Seeing that around 75% of its unstakers are seeking to exit to USD, Marinade Finance has designed a stablecoin vault that seeks to capture this value flow. In one click, users can shift capital directly from staked $SOL into a yield-bearing $USDC vault, with fiat off-ramping expected in future updates.
Upon deposit to the Marinade vault, users receive an SPL share token representing their position, which remains transferable and redeemable at any time.
"Instead of losing users through a painful off-ramp process, we're giving them a reason to stay. With Kamino powering the infrastructure and RockawayX managing the strategy, users get solid yield with the simplicity Marinade is known for." - Michael Repetny, Marinade Finance CEO
In times of market uncertainty, Marinade’s stablecoin vault becomes a powerful tool for DeFi users who want to limit their exposure to volatile assets, while continuing to earn yield onchain.
RockawayX to Manage Vault Strategy Marinade’s $USDC vault is built on a three-layer stack, collaborating with some of the names in Solana DeFi.
RockawayX, an investment firm with deep ties to the Solana ecosystem, will manage the vault’s yield strategy. Overseeing the vault’s day-to-day operation, RockawayX will allocate and actively rebalance capital to ensure consistent yield.
At press time, RockawayX has communicated its intention to run a conservative mixed-market strategy, allocating funds across Kamino’s lending markets, Maple’s institutional credit markets, and various similar RWA products.
While RockawayX handles strategy, Marinade owns and controls the vault outright, with its Council multisig (3 of 5) holding ultimate authority. Marinade can add or remove modules, replace the vault manager, adjust configuration, or initiate a wind-down at any time, and RockawayX is unable to withdraw funds to external wallets.
“Our job is to underwrite every allocation properly and rebalance when conditions move. We've run market-neutral strategies through every major stress event since 2022 with zero defaults. That's the standard we're applying here.” - Nassim Alexandre, RockawayX Head of Onchain Asset Management and Curation
Kamino Finance provides the underlying infrastructure through the Kamino Buildkit, and is built upon Kamino’s Lend product, including smart contracts, lending markets, NAV accounting, and the share token mechanics. Solana’s biggest DeFi lender, Kamino has successfully completed 18 independent audits and suffered zero bad debt since the platform launched in 2022.
Solana Stablecoin Supply At All-Time Highs The launch of Marinade Finance’s stablecoin vault coincides with the emergence of a new trend in onchain markets. Previously, the end of a crypto bull cycle would typically result in an exodus of capital, with market participants moving their funds offchain to store their wealth in fiat.
That appears to be changing in 2026. While asset prices continue to slide amidst languishing market conditions, traders and investors are choosing to keep their funds onchain, taking advantage of a wealth of yield bearing opportunities in the stablecoin economy.
In the collapse of the 2021 bull market, Solana’s stablecoin supply remained largely unchanged as $SOL plummeted from $250 to around $30, before capitulating entirely towards the end of the year. This time around, Solana’s stablecoin supply has expanded in the face of declining asset value, suggesting market participants prefer to store their wealth across Solana DeFi.
Marinade’s $USDC vault seeks to capture this value flow, enabling its users to continue to earn reliable yield on their assets, without needing to leave the Marinade ecosystem.
Anchorage Digital has integrated Marinade Finance into its platform, allowing institutional clients to stake Solana tokens through automated validator strategies while maintaining custody of their assets.
According to Thursday’s announcement, the integration gives clients direct access to Marinade’s staking strategies within Anchorage’s custody and wallet infrastructure, including its Porto self-custody wallet, without requiring external applications.
The setup separates staking delegation from withdrawal control, allowing institutions to participate in validator selection and yield generation while retaining asset control.
Clients can choose between two staking strategies: one that allocates across a curated set of roughly 30 KYC-verified validators for compliance-focused use cases, including regulated financial products such as exchange-traded funds (ETFs). Another dynamically distributes stake across a broader validator set spanning hundreds of operators to optimize yield.
The integration is available through Anchorage Digital’s platform and its Porto wallet, where staking, custody and asset management functions are combined within a single interface.
Anchorage Digital is a San Francisco-based crypto custody provider that operates the first federally chartered crypto bank in the United States. In January, it was reported to be seeking between $200 million and $400 million in new funding as it considers a potential initial public offering next year.
Institutional yield strategies expand from staking to Bitcoin DeFiInstitutions are increasingly seeking yield on crypto holdings without moving assets out of custody, as staking gains traction among asset managers and product issuers.
In February, Ripple expanded its custody platform through integrations with Securosys and Figment, enabling banks and custodians to offer staking without running validators or managing keys, with support across on-premises and cloud environments and built-in compliance checks.
The following month, Anchorage Digital integrated with Puffer Finance to offer liquid restaking on Ethereum, allowing clients to stake Ether (ETH) and receive pufETH, a transferable token representing a restaked position that continues earning rewards.
While staking -- that is, earning rewards for securing a network -- was traditionally limited to proof-of-stake assets, similar yield strategies are emerging for Bitcoin (BTC) via decentralized finance (DeFi) integrations.
Lombard recently teamed with Bitwise Asset Management to enable institutions to earn yield and borrow against Bitcoin without moving assets out of custody, combining DeFi lending and tokenized real-world assets with infrastructure from Morpho.
Similarly, Fireblocks has integrated Stacks to provide institutional access to Bitcoin-based lending and yield, using faster block times while settling transactions on Bitcoin for finality.
Magazine: Adam Back says current demand is ‘almost’ enough to send Bitcoin to $1M
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Anchorage Digital has integrated Marinade Finance into its platform, allowing institutional clients to stake Solana tokens through automated validator strategies while maintaining custody of their assets.
According to Thursday’s announcement, the integration gives clients direct access to Marinade’s staking strategies within Anchorage’s custody and wallet infrastructure, including its Porto self-custody wallet, without requiring external applications.
The setup separates staking delegation from withdrawal control, allowing institutions to participate in validator selection and yield generation while retaining asset control.
Clients can choose between two staking strategies: one that allocates across a curated set of roughly 30 KYC-verified validators for compliance-focused use cases, including regulated financial products such as exchange-traded funds (ETFs). Another dynamically distributes stake across a broader validator set spanning hundreds of operators to optimize yield.
The integration is available through Anchorage Digital’s platform and its Porto wallet, where staking, custody and asset management functions are combined within a single interface.
Anchorage Digital is a San Francisco-based crypto custody provider that operates the first federally chartered crypto bank in the United States. In January, it was reported to be seeking between $200 million and $400 million in new funding as it considers a potential initial public offering next year.
Institutional yield strategies expand from staking to Bitcoin DeFiInstitutions are increasingly seeking yield on crypto holdings without moving assets out of custody, as staking gains traction among asset managers and product issuers.
In February, Ripple expanded its custody platform through integrations with Securosys and Figment, enabling banks and custodians to offer staking without running validators or managing keys, with support across on-premises and cloud environments and built-in compliance checks.
The following month, Anchorage Digital integrated with Puffer Finance to offer liquid restaking on Ethereum, allowing clients to stake Ether (ETH) and receive pufETH, a transferable token representing a restaked position that continues earning rewards.
While staking -- that is, earning rewards for securing a network -- was traditionally limited to proof-of-stake assets, similar yield strategies are emerging for Bitcoin (BTC) via decentralized finance (DeFi) integrations.
Lombard recently teamed with Bitwise Asset Management to enable institutions to earn yield and borrow against Bitcoin without moving assets out of custody, combining DeFi lending and tokenized real-world assets with infrastructure from Morpho.
Similarly, Fireblocks has integrated Stacks to provide institutional access to Bitcoin-based lending and yield, using faster block times while settling transactions on Bitcoin for finality.
Magazine: Adam Back says current demand is ‘almost’ enough to send Bitcoin to $1M
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Anchorage Digital has partnered with Marinade Finance to offer Solana staking to its institutional clients. The Polymarket contract for Solana reaching $150 during April 13-19 is priced at 100% YES.
Market reaction
The Solana price market for April 13-19 shows no recorded trading volume in the last 24 hours. The 100% YES odds reflect full trader confidence that the threshold has already been met or will be, but the absence of active trading suggests no one sees an edge at current pricing. The integration itself has not triggered any measurable shift in betting activity.
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Why it matters
Anchorage holds a federal bank charter, which makes it one of the few crypto custodians operating under a national banking framework. Adding Marinade Finance’s liquid staking to that infrastructure gives institutional allocators a regulated path into Solana staking. At 100% YES, the April 13-19 contract leaves no room for upside on the YES side. A contrarian NO position would pay out at long odds but carries obvious risk given current pricing.
What to watch
Track whether Anchorage discloses staking inflows or new institutional client activity tied to the Marinade integration. Any large on-chain staking deposits through Anchorage’s infrastructure would be the clearest signal that the partnership is generating real capital flows. Changes in Solana-related Polymarket volume would also indicate whether traders begin pricing in new institutional demand.
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Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
PANews reported on June 16 that, according to SoSoValue data, the SOL spot ETF saw a total net inflow of $2.8086 million yesterday (June 15, Eastern Time).
The SOL spot ETF with the largest net inflow yesterday was the Fidelity Solana Fund ETF (FSOL), with a single-day net inflow of $2.6587 million, bringing its total historical net inflow to $192 million.
The second largest net inflow was into the Canary Marinade Solana ETF (SOLC), which saw a net inflow of $149,900 in a single day, bringing its total historical net inflow to $1,360,700.
As of press time, the SOL spot ETF has a total net asset value of $861 million, an SOL net asset ratio of 1.98%, and a cumulative net inflow of $1.127 billion.
Crypto markets have hit a new 2019 high; Bitcoin dominating, ETH, BNB and XMR moving, LEO enters top twenty. Market Wrap It has been another fruitful Friday in crypto land. Markets have hit a new high for the year and as usual it is Bitcoin driving them. A total market cap top of $300 billion was touched a few hours ago as BTC broke through resistance once again surging to a new 13 month high.
The move came a few hours ago during early Asian trading. This time it wasn’t a ‘Bart type spike’ but a gradual grind up through the resistance at $9,600 and on towards an intraday high of $9,800. Since then gains have mostly held as Bitcoin remained around $9,700 with plenty of talk about a further move to $10k today or over the weekend.
Ethereum also got a boost this time as a 4 percent climb lifted it to $280. In comparison however ETH is still way down, over 80 percent of ATH compared to BTC which is now close to 50 percent. There is no doubt that Ethereum will crack $300 and make bigger gains when altseason kicks in but at the moment the going is slow.
Altcoin Outlook The crypto top ten has not reacted with the usual fervor and aside from Binance Coin adding 6 percent nothing else has really moved much. There is a little green with Bitcoin Cash and EOS adding 2 percent each but others such as BSV are falling back. There has been no movement on XRP, LTC and XLM.
The top twenty is equally lethargic aside from Monero which is still climbing with a further 6 percent today to reach $108. The Bitfinex transparency initiative UNUS SED LEO has arrived on the scene as CMC has just registered a market cap of $1.8 billion jumping it straight into 14th place above Dash. LEO tokens were trading at $1.84 at the time of writing. The rest of the altcoins are up a percent or flat at the moment.
FOMO: Egretia Climbing Higher Today’s top performing crypto top one hundred altcoin is Egretia again as entertainments based token surges 24 percent. A listing in Singapore’s BiUP exchange may have driven some of the momentum for EGT as the team rejoices.
Breaking News: Egretia is currently ranked 77 as per CoinMarketCap!!! EGT has seen the highest gain, growing almost 30% over the past 24H! More info, welcome to join us on telegram : https://t.co/G8oBPqZT64
Nash Exchange is getting a 12 percent boost today and Vestchain has made ten, these are the only three cryptos in double digits. Waltonchain and Grin are at the other end of the list dumping 10 percent each.
Total market cap 24 hours. Coinmarketcap.com Total crypto market capitalization surged almost $15 billion to top out at a new 2019 high of $300 billion a few hours ago. A slight correction has dropped markets back to $297 billion at the moment but things are still bullish. Bitcoin is the only thing driving market gains at the moment as dominance increases to 58 percent in its push to five figures.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
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Investors are rushing to stake Nash Exchange (NEX) tokens, in order to maximize returns from the exchange’s fee-split model.
The address for Nash’s staking smart contract has seen a sharp surge in its balance. More than 700,000 NEX has been added to the wallet since Monday, when Nash went live. That takes the total number of staked NEX tokens up to 2.8M, which is roughly 8% of the circulating supply.
NEX tokens staked in the NASH staking smart contract. Source: NEOSCAN. Creators describe Nash as a ‘distributed finance‘ platform. In addition to the usual trading facilities found in a DEX, users can also make payments in cryptocurrencies through NashPay.
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Nash’s matching engine was built on the NEO blockchain, but cross-chain integrations allow communications with other protocols. All five Nash founders participated in the ‘City of Zion’ decentralized developer community, and are reportedly still involved in developing NEO infrastructure.
But the project is “not dependent on the NEO network,” said Co-founder Fabio Canesin in April. The exchange has already incorporated scripting protocols for Bitcoin (BTC) and Ethereum (ETH).
Crypto Briefing first wrote about Nash when the project announced its ICO, to be held in early 2018. But the offering was delayed pending regulatory approval from Liechtenstein’s Financial Market Authority (FMA). Originally scheduled for Q1, the ICO was launched in September of 2018.
An MVP (Minimum Viable Product) for the exchange went live on Monday, allowing token holders to stake NEX tokens to receive a share of the trading fees. The staking rewards increase according to how long the tokens have been staked.
But the long-awaited launch failed to halt a considerable sell-off of NEX tokens, whose prices began to sink yesterday. After rising to $2.40 per token on Monday, they traded at approximately $1.70 at the time of writing.
Disclosure: This article was edited by Paddy Baker. For more information on how we create and review content, see our Editorial Policy.
Ethan Fast has spilled all in a recent interview with CryptoSlate. Fast shares how he got into the crypto space and what encouraged him to kick start the Nash platform. Ethan Fast, the CTO and co-founder of the Nash platform, has spilled all in a recent interview with CryptoSlate.
The self-custody DEX has been gaining some significant movement and attention over the past few months so it’s sure to be an interesting take.
In the interview, Fast shares how he got into the crypto space and what encouraged him to kick start the Nash platform. He also spoke on the challenges of building a good quality user experience and where he sees the blockchain space going over the next few years.
If you want to read the full interview click here, but we’re going to look through the highlights.
The interviewer asked Fast on why he decided to co-start Nash. He responded, saying:
“During the final years of my PhD I began working with a group of amazingly talented people who more or less bootstrapped the NEO blockchain open-source community. We all worked really well together and shared an excitement about the future of digital assets, so the idea of starting a company felt like a logical next step.”
He added:
“In terms of “why Nash?” specifically, the most compact form of our mission is “distributing finance for everyone” and that still does a good job of summing up why we are working on this company. Cryptocurrencies are unique among other assets in the level of control and empowerment they give the people who own them. We want to make these assets and their properties accessible to everyone. Another motto we have is “trust yourselves”, which perhaps gets even more quickly to the point: we want to give people the power to do that! We all love working with the tech, but these are the bigger things we also care about.”
The CTO went onto comment on some of Nash’s most notable achievements or milestones.
“It’s always possible to break things down in different ways, but I’d say our first milestone was the public sale of our Nash Exchange security token (NEX) in 2018. This was an extremely big deal for us and, really, the whole ecosystem, as no one had ever publicly sold and issued a token that also had legal standing as a European security. Getting this done took more than a year of communication and back-and-forth with regulators at the FMA in Lichtenstein. The reason we went through so much pain was to provide investors with legal protections and explicitly pay dividends from the services we are building, which is only possible with a proper security. In the end, more than 15,000 people invested and we raised around twenty million in the public sale.”
He continued:
“Our second major milestone was the release of our exchange in early September of this year. We are the first exchange to demonstrate non-custodial, cross-chain trading of assets and tokens that live on different blockchains (for example, Ethereum and NEO) with performance on par with centralized exchanges.”
For more news on this and other crypto updates, keep it with CryptoDaily!
SponsoredUpdated May 9, 2024, 5:49 p.m. Published May 9, 2024, 5:00 p.m.
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Hyperbolic CEO Jasper Zhang (Hyperbolic)In mathematics, Jasper Zhang figures to be a sort of Zeus. He says he won gold medals at math olympiads in China and Russia, and it took him just two years to get a Ph.D. from the University of California, Berkeley.
Now he's trying his hand at solving a key problem at the intersection of two of the fastest-growing but most complicated areas – blockchain and AI.
Jasper Zhang is a speaker at CoinDesk's Consensus Festival, May 29-31, in Austin, Texas.
Hyperbolic, the two-year-old startup that Zhang leads focused on decentralized AI computing, said Thursday that it is introducing a protocol called “Proof of Sampling (PoSP),” aimed at addressing challenges with trust in decentralized AI networks.
Hyperbolic was co-founded in 2022 by Zhang and Yuchen Jin, who holds a Ph.D. in computer science from the University of Washington.
The concept for the new protocol was created in conjunction with researchers from Berkeley and Columbia University, according to the team. It combines math, computer science and economics, deploying “advanced sampling methods and game theory to incentivize integrity and minimize computational demands across decentralized networks,” Hyperbolic shared in a press release with CoinDesk.
Zhang, 28, said in an interview with CoinDesk that he sees PoSP as the next iteration of verification for decentralized networks.
“People in the beginning thought there's only one way to do verification, which is with consensus," Zhang said. "Later on people discover optimistic proving and then ZK proofs.”
Now there's PoSP, he said, and it can not only be applied to AI, but also to rollups, a type of layer-2 blockchain, as well as so-called actively validated services (AVSs), which are protocols secured by restaking protocols like EigenLayer.
A research paper on the Proof of Sampling Protocol by Zhang and several co-authors was submitted on May 1 to arXiv, an open-access repository hosted by Cornell University for scientific papers that have not yet been peer-reviewed.
According to the paper, the design relies on a "pure strategy Nash Equilibrium." That refers to a game theory concept attributed to the Princeton University-educated mathematician John Nash, who was the subject of the 2001 Oscar-winning film A Beautiful Mind, directed by Ron Howard and starring Russell Crowe.
Here's a figure from the paper illustrating the architecture:
The Proof of Sampling architecture (Zhang et al)As part of the release, Hyperbolic is introducing “spML,” an implementation of PoSP built specifically for AI verification.
"SpML leverages the foundational principles of PoSP to create a verification mechanism that is not only faster and more secure but also economically feasible," Zhang said in the press release.
Funstrat co-founder Tom Lee says Ethereum could be the crypto market’s near-term leader, targeting a move to $12,000 by January on the back of Wall Street’s tokenization push and rising growth expectations for smart-contract platforms. In an interview released Nov. 10 with Tom Nash, Lee emphasized that while Bitcoin remains under-owned, “there’s a bigger move in Ethereum” over the next several weeks as capital reallocates toward the rails that power stablecoins and tokenized assets.
Why Ethereum Is Poised To Rally Soon Lee anchored his call to a blend of technical and fundamental drivers. Citing Funstrat’s head of technical strategy, he noted: “Mark Newton […] thinks we can be like $9,000 to $12,000 by January. I think that’s about right. I think Ethereum […] more than doubles between now and year end or between now and January.” In parallel, he said Bitcoin could reach the “high $100,000s, maybe even $200,000 by the end of the year,” while reiterating that Ethereum likely has the bigger near-term upside.
The crux of the Ethereum thesis, as Lee laid it out, is that the demand side of crypto is shifting toward applications that depend on smart contracts—precisely the domain where Ethereum is most entrenched.
“Even Cathie Wood wrote about it. She thinks stablecoins have been cannibalizing demand for Bitcoin and gold and tokenized gold is cannibalizing demand for Bitcoin. But stablecoins and tokenized gold run on smart contract blockchains like Ethereum,” he said. He added that “Wall Street is building and Larry Fink wants to tokenize everything on the […] blockchain. That means Ethereum is where people are starting to raise their growth expectations.”
Lee argued that this change in growth expectations matters as much as, if not more than, headline monetary policy over short windows. While acknowledging that the Federal Reserve remains a critical backdrop, he framed potential December easing as a catalyst for risk assets broadly—financials, small caps, and tech—and, by correlation, crypto. “If they cut in December, they’re confirming they’re on an easing cycle,” he said, calling that “really bullish” for equities most tightly linked to growth and liquidity. In Lee’s framework, those same flows support crypto assets—and Ethereum in particular—into year-end positioning.
The fund manager also located the crypto setup within a larger “super-cycle” he’s been mapping for years. He contends that markets are still in the early innings of an AI-driven capex boom and a demographic regime that keeps demand for productive technology elevated. That backdrop, he said, has repeatedly wrong-footed bears who anchored on yield-curve inversions and 1970s inflation analogs.
“People have a hard time understanding and grasping super cycles […] we look for story arcs that last 10 to 15 years,” he said, arguing the last three years showcased “mass misconceptions” about recession and persistent inflation that never reconciled with reported earnings.
The Macro Backdrop Pressed on risks to the call, Lee downplayed the idea that inflation is about to re-accelerate and argued that oil would need to approach levels near $200 to deliver a true growth shock to US households. “The most overrated risk is that inflation’s coming back,” he said, pointing to cooling housing and labor metrics and stating that recent claims about re-heating core services inflation were “dead wrong” when checked against the PCE series.
On policy path-dependence, he suggested that even a December hold by Chair Powell would likely accelerate political pressure for a leadership change, muting the medium-term impact on risk assets.
Timing-wise, Lee sees positioning as the near-term accelerant. He argued that institutions remain behind their benchmarks after repeatedly fading rallies through 2023–2025 and that the final weeks of the year often force a chase into outperforming segments. “There is incredible demand for equities because people are really off-sides […] 80% are trailing their benchmark this year […] they’re going to be buying stocks,” he said, adding that the AI trade “is going to come back strong” and that crypto tends to correlate with that move.
For Ethereum specifically, Lee’s case reduces to a simple through-line: the pipes getting built are where the next leg of growth accrues. Stablecoins, tokenized gold, and Wall Street’s broader tokenization agenda are traffic that runs on programmable blockchains; the market, in his view, is only beginning to price that through. “If you’re raising your growth expectations, then your discount to the future is going up,” Lee said, explaining why he believes ETH can “have a huge move into year end” and reach the $9,000–$12,000 range by January.
At press time, ETH traded at $3,447.
ETH bulls need to defend the 0.618 Fib, 1-week chart | Source: ETHUSDT on TradingView.com Featured image created with DALL.E, chart from TradingView.com
Binance, a prominent crypto exchange, reveals plans to delist MobileCoin, DREP, and pNetwork, citing the need to adapt to market changes and prioritize user safety. MobileCoin’s impending removal from Binance sparks market turbulence, with the token witnessing a sharp decline of nearly 55% in response to the announcement. Binance Labs’ strategic investment of $29.7 million in MobileCoin in 2018 highlights the exchange’s confidence in the project’s potential to drive widespread crypto adoption. Binance cryptocurrency exchange, has announced the impending delisting of MobileCoin (MOB), among two other tokens, DREP (DREP) and pNetwork (PNT), from its trading platform. The decision, disclosed in a press release on March 20, comes as part of Binance’s commitment to adapt to evolving market dynamics and ensure the best services and protections for its users. While specific reasons for MobileCoin’s delisting were not explicitly provided, Binance cited various factors influencing such decisions, including regulatory requirements and contributions to a healthy crypto ecosystem.
MobileCoin, a privacy-focused token, garnered significant attention when Binance Labs, the exchange’s venture arm, led a funding round for the project in 2018, raising $29.7 million. This strategic investment underscored Binance’s belief in MobileCoin’s potential to drive mainstream cryptocurrency adoption. However, the impending delisting casts a shadow over the project’s trajectory, prompting speculation within the crypto community about the underlying reasons behind Binance’s decision.
Impact on Binance Labs and MobileCoin’s collaborative vision Following Binance’s delisting announcement, MobileCoin experienced a sharp price decline, plummeting by nearly 55% to $0.1491, according to data from CoinMarketCap. This significant drop underscores the market’s response to the news and raises concerns about the token’s future trajectory. With trading pairs involving MobileCoin set to be suspended on April 3 at 03:00 UTC, investors are bracing for further volatility in MobileCoin’s price and market dynamics.
Binance Labs’ strategic investment in MobileCoin in 2018 signaled a shared vision between the two entities regarding the future of cryptocurrency adoption. However, the impending delisting raises questions about the longevity of this collaboration and the extent to which Binance Labs remains aligned with MobileCoin’s goals. The absence of explicit reasons for the delisting adds to the uncertainty surrounding the situation, leaving stakeholders to speculate about the underlying factors at play.
MobileCoin’s privacy-focused approach and technical capabilities MobileCoin, launched in 2017 by Joshua Goldbard, a former engineer at Signal, has garnered attention for its privacy-focused approach and innovative encryption techniques. The project aims to ensure privacy for its users through a combination of encryption methods, with support for in-app payments via Signal and Mixin Messenger. Despite its technical capabilities and privacy features, MobileCoin’s delisting from Binance raises questions about its broader market acceptance and viability as a mainstream cryptocurrency.
As MobileCoin grapples with the implications of its delisting from Binance, the project faces a critical juncture in its development. The absence of explicit reasons for the delisting adds to the uncertainty surrounding MobileCoin’s future trajectory, leaving stakeholders and investors eager for clarity. While the project’s privacy-focused approach and technical capabilities remain noteworthy, the delisting underscores the challenges of navigating the rapidly evolving crypto landscape. MobileCoin’s ability to adapt to these challenges and carve out a niche in the broader cryptocurrency ecosystem will be closely watched in the coming months.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.
Mutuma Maxwell
Maxwell especially enjoys penning pieces about blockchain and cryptocurrency. He started his venture into blogging in 2020, later focusing on the world of cryptocurrencies. His life’s work is to introduce the concept of decentralization to people worldwide.
Binance delists DREP, MobileCoin (MOB), and pNetwork (PNT). The move comes as the tokens have fallen short of the criteria initially earning them Binance listings. DREP team has apologized to the community members and proposed an airdrop program. Binance, the most prominent centralized trading platform, has announced plans to discontinue support for three crypto projects due to subpar performance. The affected tokens include Drep (DREP), MobileCoin (MOB), and pNetwork (PNT).
This move comes after Binance recently reviewed all listed digital assets to ensure they meet high standards and industry requirements. Projects failing to meet these standards risk delisting from the platform, as Binance prioritizes providing top-tier services and protections for its users. Unfortunately, DREP, MOB, and PNT have fallen short of the criteria that initially earned them listings on Binance.
As a result, Binance will remove all Bitcoin and USDT trading pairs associated with DREP, MOB, and PNT starting April 3. Additionally, the platform will cease accepting deposits of these tokens from the delisting date. Users are advised to withdraw their holdings before July 3, as Binance will automatically convert any remaining tokens to stablecoins after this period.
Notably, Binance’s move to delist DREP, MOB, and PNT has had severe consequences for the market values of the tokens. For instance, MOB has tanked by over 56% from its daily high of $0.32 to $0.1363 within the last few hours. Similar 56% declines have been observed with PNT and DREP.
Meanwhile, the project team behind DREP has issued a statement via its official X account concerning the delisting from Binance.
𝐓𝐨 𝐭𝐡𝐞 𝐃𝐑𝐄𝐏 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲,
We sincerely apologize for the announced delisting of the $DREP from #Binance . We understand this news is frustrating especially since we put in 10000000000000% in our product developments and upcoming milestones.
In the meantime, we'd… pic.twitter.com/T4OcQlXuSu
— Official DREP (@DrepOfficial) March 20, 2024 Acknowledging the implications of this development for DREP holders, the team apologizes to the community members. Simultaneously, the team has proposed a proposal dubbed “MOON-INDUCING UTILITY” to reduce the token supply and potentially benefit holders long-term.
The proposal includes DREP token burn and airdrop. Specifically, they suggested burning 22,593,750 tokens, approximately 23% of the total token supply should the community approve. Additionally, they propose to airdrop the remaining 20,000,000 tokens.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
Source: Adobe / top imagesA new platform named BitcoinOS aimed at bringing Bitcoin into the decentralized finance (DeFi) landscape has been introduced by a team of blockchain developers at Sovryn.
The platform, which the developers describe as an “operating system” for Bitcoin, utilizes “sovryn rollups,” creating a foundational layer for decentralized applications (dapps) on the Bitcoin network, according to an announcement posted on Sovryn’s website this week.
Does Bitcoin seem frozen in time? Other chains have smart contracts, scaling layers, rollups – and Bitcoin?
Introducing BitcoinOS: a superlayer of interoperable rollups turning Bitcoin into a global operating system.
Innovation is coming to Bitcoin!#BitcoinOS
Link⬇️ pic.twitter.com/4BV7E5Xn5G
— Sovryn | DeFi for Bitcoin (@SovrynBTC) January 25, 2024
This platform, presented as a “public good,” allows any developer to contribute and build tools in their preferred programming language.
BitcoinOS will be “be game-changing,” the announcement on Sovryn’s website proclaimed, noting that it combines “rollup flexibility and scalability, ensuring interoperability, and allowing seamless movement of Bitcoin and native assets across systems.”
“BitcoinOS redefines Bitcoin as a global operating system for the world,” the announcement added.
BitcoinOS increases speed and lower costs of transactions
Bitcoin’s primary blockchain, recognized for its high security, has over the years been criticized by some members of the crypto community for its slower transaction speed and higher costs during peak periods.
BitcoinOS aims to address these limitations by providing scalability, programmability, interoperability, and a nearly trustless security model.
The platform’s fraud system enables even a single honest participant to prevent fraudulent transactions, thereby enhancing security.
Sovryn’s announcement also highlighted that BitcoinOS allows for complete smart contracts, enabling developers to launch their rollups, fostering composability and interoperability among various applications.
The project thus seeks to prevent liquidity silos and enable shared economic activity between different projects, the announcement said.
Sovryn is also known as the issuer of the Sovryn Dollar (DLLR), a Bitcoin-backed decentralized stablecoin which is redeemable for BTC.
Bitcoin DeFi app Sovryn is expanding to the Ethereum blockchain with the help of hybrid layer-2 network developer Build on Bitcoin, the two companies announced on Thursday.
Sovryn is a decentralized platform launched at the end of 2020 that offers lending, borrowing, and margin trading through smart contracts in the Bitcoin ecosystem. Built as a DAO on the Bitcoin sidechain Rootstock (RSK) that allows for the creation of smart contracts, Sovryn has been working to enhance Bitcoin with advanced DeFi capabilities.
The first project that Sovyrn will launch on Build on Bitcoin is a decentralized exchange (DEX) called Dex 2.0. The group claims this project will come with lower gas fees and faster transactions than competitors like Uniswap, and “unparalleled capital efficiency.”
“We've known Sovryn for a long time, and they've definitely been spearheading a lot of the early DeFi work in the Bitcoin space,” Build on Bitcoin co-founder Alexei Zamyatin told Decrypt. “Egan was the first person I called up when we started working on [Build on Bitcoin], trying to get him excited about expanding the Sovryn ecosystem and also trying to learn about the struggles they had.”
A layer-2 protocol refers to technology designed to mitigate congestion on a blockchain by creating a secondary chain that works in conjunction with the main network. For example, the Lightning Network is a layer-2 micropayments protocol for Bitcoin. Other examples of layer-2s include Arbitrum and Optimism on Ethereum.
"With Build on Bitcoin, you can use 350 [Ethereum Virtual Machine] wallets," Zamyatin said. "For the layman, that means you can pick almost any wallet; it doesn't necessarily need to be Bitcoin only or deal with UTXOs. It makes the whole thing much more user-friendly."
In January, Sovyrn launched BitcoinOS, which uses what the company called “sovryn rollups” to create a foundational layer for decentralized apps (dapps) on Bitcoin.
“By joining forces with BOB, we are not only expanding Sovryn's reach but also creating a DeFi ecosystem that is accessible to millions of Bitcoin users worldwide,” Sovryn co-founder Egan Yago said in a statement.
On Sovryn’s Dex 2.0, Zamyatin explained, users can select different networks via the user interface, such as the BOB Ethereum layer-2 protocol. He noted that the selection process is similar to choosing between Ethereum, Optimism, and Arbitrum on Uniswap.
When asked why developers are focused on bringing DeFi to Bitcoin, Zamyatin said it was because of Bitcoin's reliability.
"Bitcoin is the backbone of the entire Web3 ecosystem. If Bitcoin falls, everything else falls, if everything else breaks Bitcoin is still there," he said. "I think that is one of the main properties of Bitcoin—it's stable and robust. Bitcoin is predictable."
With renewed interest in the number-one blockchain by market capitalization stemming from projects like Ordinals and the approval of Bitcoin ETFs, Zamyatin is optimistic about the future of Bitcoin development.
“Bitcoin had its harsh times when nobody wanted to really engage with it,” Zamyatin said. “We both had a feeling that it was going to have a renaissance, and luckily, we were right.”
Edited by Ryan Ozawa and Andrew Hayward
Editor's note: This story was updated after publication to clarify descriptions of Sovryn and Build on Bitcoin.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
Satoshi Protocol, a prominent stablecoin protocol that gets support from Bitcoin, has announced an exclusive collaboration with Soveryn. The partnership between Satoshi Protocol and the BOB chain-based DeFi protocol Sovryn will unveil a SAT-wBTC pool to boost the utility and liquidity of SAT in the BOB ecosystem. The platform disclosed the development on its official account on X.
Partnership with @SovrynBTC
Our collaboration introduces a new SAT-wBTC liquidity pool, boosting $SAT utility and trading options on BOB.
Thrilled to announce our partnership with @SovrynBTC, the leading BTCfi Hub on the BOB chain. They offers secure, fast Bitcoin trading… pic.twitter.com/hV6n4rWj2K
— Satoshi Protocol (@Satoshi_BTCFi) July 31, 2024 Satoshi Protocol Commences an Exclusive Collaboration with Sovryn In its latest X post, the company mentioned that Sovryn operates as a decentralized finance protocol on the BOB chain. It reportedly offers several financial services taking into account liquidity provision and trading. Sovryn benefits from the security of Bitcoin along with the smart contract flexibility to deliver resilient financial instruments. Sovryn has additionally attained crucial landmark achievements.
They include more than $85M in its total value locked part from more than $2B worth of cumulative trading volume. Additionally, the total consumer base of the platform has reportedly reached 60,000. Sovryn is integrated with the BOB chain, expanding its platform with diverse integrations and financial services. Moreover, Sovryn delivers decentralized trading, margin trading, borrowing, and lending tools.
Bitcoin network secures all of these products. This partnership will permit the development of a Sovryn-based SAT-wBTC pool. The integration will chiefly enhance liquidity for SAT. As a result of this, the consumers can conveniently trade between the SAT token and the rest of the Sovryn-based coins. This takes into account the well-known tokens such as USDC, ETH, SOV, wBTC, DLLR stablecoin of Sovryn, and so on.
Improved liquidity signifies that the clients can conduct trades more effectively with decreased slippage and enhanced pricing. The integration of SAT within the ecosystem of Sovryn broadens its utility. It provides additional opportunities to facilitate the consumers in engaging with assets. The inclusion in the extensive DeFi package of Sovryn lets SAT holders take part in a broad series of financial operations.
The Development Enhances Liquidity, Capital Efficiency, and Utility in the BTC Ecosystem It includes generating yields via liquidity provision and using SAT in the form of collateral concerning loans. Ingamar Ramirez, Sovryn’s Head of Ecosystem Growth, stated that this collaboration will let them offer additional options regarding decentralized stablecoins. Satoshi Protocol asserted that the partnership will combine the strengths of both entities to capital efficiency, liquidity, and utility in the BTC ecosystem.
AUTHOR
Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.
Former President Donald Trump renewed his promise on Wednesday to “save” Ross Ulbricht, the founder of the notorious Silk Road marketplace, reigniting discussions around crypto, justice and government overreach.
What Happened: Trump took to Truth Social, proclaiming, “I WILL SAVE ROSS ULBRICHT!”—a declaration that has stirred both controversy and hope among crypto advocates.
His case is deeply intertwined with the rise of Silk Road, the online marketplace that helped thrust Bitcoin into public consciousness, while simultaneously associating it with illegal activities.
Why It Matters: This isn’t the first time Trump has expressed support for Ulbricht. Back in May 2024, at the Libertarian National Convention, he promised to commute Ulbricht’s life sentence “on day one” if he returned to office, drawing enthusiastic reactions from the crowd, many of whom held “Free Ross” signs.
In response, Ulbricht tweeted, “Thank you. Thank you. Thank you… After 11 years in prison, it is hard to express how I feel at this moment.”
Libertarians and crypto advocates have long criticized the severity of Ulbricht’s sentence, arguing that it served not just as punishment for running Silk Road, but as a warning against the ideals of decentralized finance.
The crypto community, however, remains divided on Trump’s stance. Some see his vow to pardon Ulbricht as a legitimate push for justice and a stand against government overreach.
Others perceive it as a calculated strategy to win the favor of libertarian and crypto supporters as part of his 2024 presidential campaign.
Also Read: Bitcoin Bulls Should Watch This Crucial Level: 10x Research
Trump’s recent support for Ulbricht aligns with his evolving pro-crypto rhetoric.
During the same Libertarian event, he promised to “keep Elizabeth Warren and her goons away from your Bitcoin,” marking a notable shift from his previous criticisms of cryptocurrencies as risky and fraudulent.
What’s Next: The evolving discourse surrounding Ulbricht, crypto, and the law will undoubtedly be a topic of discussion at Benzinga’s Future of Digital Assets event on Nov. 19, where experts will explore the dynamic intersection of digital finance, policy, and innovation.
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Ross Ulbricht, serving two life sentences for his role in creating the Silk Road marketplace, marked the start of his 12th year in prison.
Donald Trump has once again expressed support for Ross Ulbricht, the imprisoned founder of the Silk Road, an illegal online marketplace.
Trump took to Truth Social to vow that he would “save” Ulbricht.
Trump Vows to Free Ulbricht if Re-elected The former president shared a screenshot of Ulbricht’s recent post marking the start of another year in prison, “Here it is. The start of my 12th year in prison today. I intend to make the most of it and use my time wisely,” Ulbricht said. In his post, Trump responded, “I WILL SAVE ROSS ULBRICHT!”
The 39-year-old, arrested in 2013 on charges of drug trafficking, money laundering, and computer hacking, was the creator of Silk Road. The dark web platform enabled the anonymous sale of illegal drugs such as heroin, cocaine, and LSD using Bitcoin (BTC), processing over $1 billion in transactions before being shut down shortly after his arrest.
In 2015, Ulbricht was sentenced to two life terms plus 40 years without the possibility of parole. Since then, authorities have seized over $1 billion in Bitcoin from Silk Road’s treasury, along with additional amounts confiscated from individuals connected to the marketplace and other criminal activities over the years.
This is not the first time Trump has shown support for the founder. At the Libertarian National Convention in May 2024, he promised to “commute” his life sentence “on day one” of his presidency if re-elected, drawing cheers from the crowd with many waving “Free Ross” signs. Following this declaration, Ulbricht responded on X, saying, “Thank you. Thank you. Thank you… After 11 years in prison, it is hard to express how I feel at this moment.”
Trump’s support for the platform’s founder aligns with his growing pro-crypto stance. In the same speech, he also criticized Senator Warren, vowing to “keep Elizabeth Warren and her goons away from your Bitcoin.”
You may also like: Donald Trump Launches US Quantum Push With Two Executive Orders Is Bitcoin (And Peace) In Trouble as Trump Warns Iran of Fresh Strikes? Trump Says ‘You’re Welcome’ as Oil Is Flowing and Prices Are Dumping Government Overreach Trump’s promise to free Ross Ulbricht has renewed debates about the fairness of his sentence, especially given Silk Road’s pivotal role in popularizing Bitcoin. The platform brought Bitcoin into the mainstream, showcasing its use for decentralized payments but also damaging its reputation by associating it with criminal activity.
Ulbricht’s case continues to divide the crypto community. Many libertarians and crypto advocates argue that his sentence was excessively harsh and represents an attack on decentralized finance and privacy principles. They view his punishment as an example of government overreach aimed at stifling innovation in decentralized technologies.
However, others point to the massive illegal drug trade that occurred on the darknet website and argue that the sentence was appropriate considering the harm caused.
Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.
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Last updated:
October 8, 2024
Fintech Revolut said Tuesday that it thwarted nearly $13.5m in potentially fraudulent crypto transactions from June through September.
Revolut, having launched its independent crypto exchange in the UK earlier this year, said it is committed to ensure that funds do not exit customers’ accounts.
Crypto hackers stole an estimated $409m in the third quarter of 2024, according to Immunefi. This highlights ongoing risks for both centralized and decentralized platforms, as several prominent exchanges and protocols experienced major breaches.
Fraud Prevention with Biometric Security for Crypto WithdrawalsWhen users initiate a crypto transfer on Revolut, the platform’s algorithms actively monitor transactions in real time. Legitimate transfers are processed quickly, and in 2024, 92% of these transactions have been completed without any additional input. However, the remaining 8% undergo further checks to comply with fraud prevention and anti-money laundering rules.
As a result, fewer than 0.02% of transactions, or 1 in 5,000, lead to account termination after review.
Further, Revolut’s Wealth Protection feature adds optional biometric security for crypto traders. Once enabled, withdrawals require a selfie verification, compared to the original KYC selfie, providing two layers of biometric checks for added security.
“We follow strict financial regulations to create a secure environment for all of our customers’ crypto transactions,” said Emil Urmanshin, Revolut’s Director of Crypto & New Bets.
“This starts from the second they sign up — from monitoring patterns in suspicious activity to identity checks, and using two-factor authentication.”
Revolut Poised to Launch Its Own StablecoinRevolut is reportedly gearing up to introduce its own stablecoin, setting the stage to rival major industry players. This move sees the London-based firm deepening its engagement in the crypto arena, alongside companies like PayPal, Ripple and BitGo.
America is the largest economy in the world, and its GDP is around $29 Trillion. However, despite that, Robert Kiyosaki, the popular Book author and advisor, believes that America is falling. More importantly, he provided exact reasons why it is happening in his recent X post, sharing his concern over the country’s current situation. Additionally, he believes that hard assets like Bitcoin are the solution to solving all the US’s problems.
Why does Robert Kiyosaki Believe That America is Falling? Robert Kiyosaki has been quite vocal about people achieving financial freedom and gaining it regardless of the economy, the US government, or other macroeconomic factors. He has often commented and warned about the functioning of the country and the role of the government, banks, and other traditional entities in this. It is because Kiyosaki believes that these are pushing the country backward per Kiyosaki.
In one such warning, he recently revealed why America is falling in an X post. Robert claimed that this is what will happen thanks to the current leaders, and regarded President Biden and Vice President Kamala as lefties and liars. He stated that he is amazed how all this lying, cheating, and stealing has still kept the country resilient, strong, and undefeatable.
Q: WHY IS AMERICA FAILING?
A: WTF do you expect when lefties
Promote “Defund the Police” and
such absurd ideas as “if you steal less than a hundred dollars….lts not a crime?”
“Lying, cheating, and stealing….are sins against the souls of all human beings.”
With all the…
— Robert Kiyosaki (@theRealKiyosaki) October 6, 2024
With this post, he has questioned the function of the ongoing government. More importantly, he showed concerns over Biden and Harris’s plans, where they talked about “Defunding the police and stealing below hundred dollars as not criminal activities.”
Since the US Presidential election is now just 29 days away, the political pressure is rising in the country, where each candidate is preparing for their best performance. Just recently, Donald Trump presented the Elon Musk Dark MAGA at his Pennsylvania rally, gaining new hype from voters from this collaboration. At the same time, Harris is also working on her public appearances, interviews, and much more.
With this building political tension, Robert Kiyosaki has also often participated with his views on Trump and Harris’s leadership, with the former gaining his support. He ended his post by wishing to welcome great leaders like Washington, Lincoln, Kennedy, and others who led with integrity.
In another post, Robert warned of the Financial crisis in America which is its rising debt. He warned everyone that this debt could push the country back and the people could lose their hard-earned money.
HOW MUCH is a trillion? A trillion seconds was 31,688 years ago. America goes a trillion $ in debt every 100 days. Now do you know why you must buy gold, silver, and Bitcoin?
— Robert Kiyosaki (@theRealKiyosaki) August 22, 2024
Can Bitcoin Save The People? In an interview, Michael Saylor, the CEO and Founder of MicroStrategy, claimed that Bitcoin will become 7% of the world capital by 2045, which is a big deal. More importantly, its price will grow from hundreds of thousands to Millions of dollars. As a result, it will be the most profitable asset for its holders, but these are just predictions for now. Despite that, Bitcoin’s current growth is already impressive, creating a big hype around its future.
At the time of writing, the BTC price has surged to $62K, which is quite high, but it is slowly approaching the ATH at $73K. Moreover, it has a market capitalization of $1.2 Trillion, almost half of the entire crypto market. It makes BTC the top-performing token of the crypto market this year, with 41% in YTD%. This is what attracted Robert Kiyosaki and many others to endorse this cryptocurrency. Its constant growth since its launch in 2009 makes it a desirable investment for thousands of investors.
Robert Kiyosaki has been promoting this crypto for a long and called such hard assets forever-lasting assets, unlike paper money. This is because paper money loses its value comparatively faster. Even third-party entities like banks control their functioning, making them a risky investment. More importantly, many crypto analysts have forecasted that the Bitcoin price will rise to millions in the next few years. If this happens, it could boost users’ portfolios to new levels.
Final Thoughts Robert Kiyosaki has again appeared for a new warning for his followers, but this time, it concerns the whole country. As the US presidential election is near, he has presented his views on Joe Biden and Kamala Harris. As per him, these two are putting the country at risk after allowing lying, cheating, and stealing. Additionally, for years, he has promoted hard assets like Bitcoin and others to build their future and save America. As per Robert, investment in hard assets is a must, as the country is piling up trillions of debt.
The world of cryptocurrency is buzzing with news these days, and many people are closely watching the latest trends. Ripple (XRP) has been a hot topic, especially with talks about a possible ETF approval.
However, some experts warn that just because an ETF might happen, it does not mean it will protect people from losing money. Because of this uncertainty, traders are looking away from Ripple and checking out other promising coins like SEI which is becoming popular as a new opportunity in the market.
As more people get interested in SEI, IntelMarket (INTL) is also making a name for itself by giving traders cool features and tools to help them navigate this exciting landscape. With so many interesting possibilities coming up, investors are eager to see what is next for Ripple (XRP), SEI, and the unique offerings from IntelMarket while searching for the next big chance.
Ripple (XRP) is Facing New Challenges and Uncertain Times Ahead Ripple (XRP) is priced at around $0.5354, and its market value is about $30.33 billion. Recently, its price went up by 1.55%, but many investors are feeling nervous. The excitement around the XRP ETF is real, but some people believe it might not be enough to keep prices steady.
Lately, XRP has been having a tough time. There are 99.99 billion XRP coins in total, and about 56.65 billion are available for trade right now. As the 7th largest cryptocurrency, it has a strong place in the market, but its recent price movements show that things are shaky.
Interestingly, some big holders of XRP are still active, which means there could be some big trades happening. However, the price has not been stable, which worries many people. Investors are keeping a close eye on any news about rules that could affect Ripple (XRP). While some are hoping for a comeback, the future seems uncertain for this well-known cryptocurrency.
SEI is a New Player Stepping Up to Challenge the Big Names SEI is rising quickly after the Ripple (XRP) runs into some bumps in the road. Right now, it costs $0.424, and its market cap is about $1.49 billion. It has increased by 4.73% in a single day and more investors are beginning to have faith in it.
What makes SEI special is its focus on being fast and efficient, which attracts both new and experienced traders. It has a total supply of 10 billion SEI, with 3.52 billion available to trade. This solid foundation makes it a fun option for those looking to invest.
SEI is also making its platform better and easier to use, helping users trade and earn more money. As the market changes, SEI looks ready to challenge older coins like Ripple (XRP). It is an exciting time to see how SEI grows and what it can offer to investors.
IntelMarkets: Your Key to Smart Trading and Maximizing Profits While XRP and SEI are in the spotlight, IntelMarkets (INTL) is changing how people trade in cryptocurrency. This platform works on both Ethereum and Solana, giving traders fantastic options. With a price of about $0.027364, IntelMarket has already raised over $1,070,828, showing that lots of people are interested.
At IntelMarket, traders can use leverage of up to 1000x which means they could earn big returns on their trades. The platform also offers smart tools to help users manage their risks whether they are experts or just starting plus it is easier to spot the best opportunities with many asset pairs available in the rapid crypto market.
The future looks bright for IntelMarket as it continues to grow, and with so much interest right now, now is an excellent time to see what this platform can do for you. Do not miss the chance to be part of the next wave in crypto trading, so just take a look at IntelMarkets today and find out how it can help you trade better.
Discover More About IntelMarket:
Presale: https://intelmarketspresale.com/ Buy Presale: https://buy.intelmarketspresale.com/ Telegram: https://t.me/IntelMarketsOfficial Twitter: https://x.com/intel_markets Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.
Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
At 443 trillion tokens, Shiba Inu is trading close to a crucial support level that could act as a solid safety net for the current price threshold. This extensive support zone connected to 1,633 addresses activity provides information about possible market movements. The profitability of these active addresses is an intriguing aspect.
We can clearly see the mood of the market by grouping them according to their average cost. This indicator referred to as In the Money or Out of the Money shows whether these addresses are profitable or not. Bullish sentiment may be indicated if a sizable portion of these addresses are profitable, but it may also signal possible selling pressure as holders may take profits.
SHIB/USDT Chart by TradingViewConversely, a large number of losing addresses could indicate bearish sentiment or even a buying opportunity, as these holders may be trying to reduce their acquisition cost by acquiring more SHIB. Shiba Inu is in a promising position technically. SHIB is currently trading at $0.000018. Lately, there has been a spike in volume, suggesting increased market activity.
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Furthermore, the price continues to rise while staying above important indicators like the 50, 100 and 200 EMAs. SHIB is creating a triangle pattern that is symmetrical, which could result in a big breakout. The possible formation of a golden cross, a long-term bullish indicator that happens when the short-term moving average crosses above a long-term moving average, is one of the most encouraging signals.
This may reinforce the likelihood of a significant price rally and a long-term trend reversal. In general, the technical indicators, market sentiment and Shiba Inu's 443 trillion tokens of support position the token for a potential upward surge. SHIB may see a large increase in price soon if the golden cross materializes and the symmetrical triangle breaks to the upside.
Toncoin (TON), the Telegram-native cryptocurrency, has seen its price decrease by 17% within the last 30 days. As a result, TON’s price fell below $5 before a slight bounce.
Despite this decline, the cryptocurrency’s price could be in line to recover some losses. This assertion is due to the change in sentiment of Toncoin short-term holders, which this on-chain analysis reveals.
Toncoin Holders Push for RecoveryWhile TON’s price might have fallen below $5, IntoTheBlock data shows that the token’s Coins Holding Time has increased. Within the last seven days, this metric, which measures the amount of time a cryptocurrency has been held without being sold, is up 142%
Typically, when the holding time decreases, short-term holders have lost confidence in a crypto’s potential. However, since it increased, it indicates that Toncoin short-term holders believe that a rebound could be close.
For that to happen, the token’s Coins Holding Time has to sustain this momentum. If that happens, then Toncoin’s price might not add to its month-long 17% decline.
Read more: What Are Telegram Bot Coins?
Toncoin Coins Holding Time. Source: IntoTheBlockAnother metric supporting this bias is the Large Holder Netflow to Exchange Ratio. This metric basically shows whether large holders of a cryptocurrency are sending more tokens to an exchange.
When the ratio rises, it indicates that these stakeholders are transferring more tokens to exchanges, often signaling an intent to sell. Conversely, a drop in the ratio suggests investors are holding back on selling as they avoid sending tokens to centralized platforms.
Therefore, the decline, as seen below, indicates that Toncoin whales have refrained from liquidating their assets. Should that remain the same, it could have a positive impact on TON’s price.
Toncoin Large Holders Netflow to Exchange Netflow Ratio. Source: IntoTheBlock TON Price Prediction: Rally to $6 BeginsFrom a technical point of view, Toncoin is witnessing a massive rise in the Money Flow Index (MFI). The MFI, as the name implies, refers to the rate at which liquidity is entering a cryptocurrency.
A higher MFI signals increased buying pressure, while a lower MFI points to rising selling pressure, often implying a potential price drop. For TON, with buying pressure currently elevated, this suggests the cryptocurrency could push beyond $5.22.
Leveraging the Fibonacci indicator—which identifies key support and resistance levels—a continued rise in buying pressure might drive Toncoin’s price up to $6.15.
Read more: 6 Best Toncoin (TON) Wallets in 2024
Toncoin Daily Analysis. Source: TradingView However, if Toncoin short-term holders opt to sell some assets, this upward trajectory could be disrupted, potentially causing the price to slide back to $4.46.
Howard Lutnick, the billionaire chief executive of Cantor Fitzgerald, hailed Donald Trump as the best choice for rich America.
He underlined that one of the good sides of a former president is that he took care of the American worker and growth in America, but also him being a crypto advocate and wanting to implement tariffs.
Lutnick Praises Donald Trump’s ‘America First’ for Economic Growth In a recent podcast with Anthony Pompliano, founder and CEO of Professional Capital Management, Howard Lutnick argued that Donald Trump’s “America first” policy helped attain 3% GDP growth and wage increases during his term.
He added that the tariffs protected American jobs, and the economy built up American manufacturing through Trump.
On the opposing side, Lutnick showed his criticisms of Democratic policies. This includes the American Rescue Plan, which he deemed over-incentivizing the economy, causing inflation, and further hurting the middle to the working class. However, the appreciating assets were enjoyed by the rich.
This 2-hour conversation with @howardlutnick is a must listen.
We discuss the US economy, inflation, currency debasement, government spending, tariffs, the Presidential election, and what Howard endured on 9/11.
I spend much of my time thinking about the economy and how to fix… pic.twitter.com/s8pT7d8GXD
— Anthony Pompliano 🌪 (@APompliano) October 28, 2024
To Lutnick, Trump’s approach to protecting American jobs and sustaining wealth-building opportunities makes him the ideal advocate for both economic stability and wealth growth in the US.
Trump’s Tariff Policy Could Boost Jobs and Wealth According to Lutnick, Donald Trump’s tariff policy is the new face of safeguarding American prosperity. America, therefore, must maintain its economic strength. The billionaire said that if the government has to tax its people with a considerable amount, for instance, up to $400 billion, which has been the case when a country levies heavily in terms of taxation on its citizens, then this should be levied against the foreign producers, such as those from China.
He said that before an income tax existed in 19th century, the US could thrive when it relied solely upon tariffs. That had allowed way to the gigantic public investment in infrastructure by politicians and figures like Teddy Roosevelt.
This surplus-generated model was how this nation could build without skinning off its citizens. According to him, this shift away from tariffs after the world wars, left the US open to economic exploitation. That happened because tariffs were dropped in favor of income taxes to fund global rebuilding efforts.
Lutnick believes Trump’s plan brings a return to economic nationalism. It does that by using tariffs to force foreign companies to “pay to play” in the American market. It is also restoring an economic strategy that will directly benefit American manufacturing, jobs, and wealth.
Bitcoin as a Commodity, Not a Currency Unlike a currency that threatens the dollar, Bitcoin is more widely accepted as a commodity in finance.
With him would probably agree the CFTC Chair Rostin Benham who also thinks of Bitcoin as of a commodity. He recently urged Congress to legislate on crypto regulation and election betting.
Lutnick imagines that with more institutional finance acceptance – the acceptance will expand more and more, thus pushing up its value. He also thinks that Trump’s economic policies, like tariffs and the revitalization of manufacturing, align with the ethos of self-sufficiency and financial independence principles. All of this, Bitcoin even furthers by offering a decentralized asset.
Recently, some reports showed that crypto-friendly Donald Trump’s win in the 2024 US presidential election may trigger a Bitcoin price rally to $92K.
The billionaire believes that Trump is open to innovation, and his protection policies for the American worker, combined with Bitcoin being a non-governmental commodity, can potentially raise prosperity throughout the US.
In a landmark development, Bitcoin (CRYPTO: BTC) mining operations are set to heat one of the coldest regions on Earth.
What happened: Sazmining, a Bitcoin mining firm that connects individual retail miners with renewable energy-powered facilities, said in a press release that the new site would come up in Norway, just above the Arctic Circle.
The mining site would be hydro-powered, and the heat generated from the process would be repurposed to warm up buildings, replacing oil-fired boilers with high carbon footprints.
Additionally, the excess heat would be supplied to local industries, such as the drying of cod fish, helping the residents save on energy costs.
"We’re proving that Bitcoin mining can deliver true value for value. By integrating nearly 100% carbon-free energy and repurposing mining heat for local industries, we’re creating a win-win for everyone," Sazmining CEO Kent Halliburton said.
See Also: Satoshi Nakamoto Identity Prediction Market Appears More Volatile Than Bitcoin
Why It Matters: Bitcoin mining sites are large data centers that run on massive amounts of electricity, helping to keep the network secure and pushing more Bitcoins into circulation.
Heat is one of the biggest by-products of the process. As such, repurposing this excess heat could be a lucrative business opportunity, especially in areas with extremely cold climates.
Bitcoin mining also plays an important role in Texas, the Bitcoin mining hub of the U.S.
Minere here help in stabilizing the state's power grid by powering up their operations when there is an excess capacity of electricity while drastically lowering the when the state requires more usage during extreme weather conditions.
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Emory University Follows Tesla, Block And PayPal With $16M Bitcoin Investment Photo courtesy: Unsplash
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In the past several months, the Solana memecoins market has gone through massive growth, and investors are eager to get more of the latest SOL meme token. However, one analyst has a word of caution for those investors seeking these high-risk opportunities, telling them to brace for a fall.
While the hype is undeniable, not all experts are convinced of its sustainability. But amidst this looming storm, one emerging prospect, RCO Finance (RCOF), is positioning itself as a more stable alternative for those aware of the incoming wave of volatility.
‘The Solana Memecoins Bubble Could Burst Soon’ As excitement builds in the Solana ecosystem, many wonder if Solana memecoins are preparing for another bubble burst. Analysts suggest that current market sentiment doesn’t favor a bull run for these memecoins; instead, a market downturn may be on the horizon that could affect these assets.
The SOL ecosystem has recently been trading at the center of synching up many bearish pressures, which has seen it range sideways and fail to clear the key $180 mark. This stagnation has affected perceptions of the ecosystem, damping the market capitalization of Solana memecoins by 4% in the last 24 hours.
The decline in memecoin enthusiasm impacts Solana memecoins as investors focus on more utility-driven tokens. The rise of innovative-based assets like RCO Finance, which seeks to transform the DeFi landscape, has also attracted memecoin investors, further reducing the appeal of traditional memecoins.
RCO Finance (RCOF): The Under $1 Solana Killer? As skepticism grows, the Solana memecoins community faces a tough choice: continue pursuing risky memecoins or seek projects with real-world use cases. RCO Finance isn’t just another hedging alternative; it’s an innovative asset aiming to bridge TradFi and DeFi ecosystems with the help of crypto AI.
As a fully AI/ML-based platform, RCO Finance provides users with an advanced AI-powered robo-advisor that personalizes investment strategies based on individual user profiles. This tool analyzes various factors, such as financial goals and risk tolerances, to create tailored portfolios that adapt to real-time market conditions.
The robo advisor continuously monitors market trends and makes adjustments, allowing users to access profitable opportunities without needing constant oversight. This level of automation significantly improves trading by removing any emotional and human errors that normally affect trading outcomes.
RCO Finance stands out by providing access to over 120,000 assets across 12,500 asset classes, including cryptocurrencies and tokenized real-world assets like real estate. Fractional ownership enables everyday investors to overcome barriers in traditional markets, creating balanced portfolios that mitigate risks while maximizing potential returns.
The platform offers impressive leverage options up to 1,000x, enabling traders to amplify their investments significantly. This feature appeals to those seeking to maximize returns with smaller initial capital. With high leverage, diverse investment options, and AI-driven strategies, RCO Finance stands out in the DeFi space.
Security and privacy are crucial in today’s crypto landscape, and RCO Finance tackles these issues directly. Eliminating KYC requirements eases onboarding and maintains user anonymity. Backed by audited smart contracts from SolidProof, RCOF tokens provide users with a secure trading experience and investment confidence.
Can RCOF Offer Solana Memecoins Investors a Safer Alternative? As RCO Finance continues to gain traction, now is the perfect time for investors to consider participating in its ongoing presale. Priced at $0.055 per token in Stage 3, early adopters could see significant returns, with analysts forecasting potential gains of over 1,000% when RCOF launches at an estimated $0.6.
Investors in this presale gain attractive pricing, exclusive features like staking rewards, and lower transaction fees. Staking RCOF tokens offers passive income through high APYs. RCOF holders also participate in governance decisions, influencing protocol upgrades and fees, creating community ownership, and prioritizing investor interests.
With strong investor interest already reflected in over $4.2 million raised during the presale, RCO Finance is poised for significant growth as it merges AI with DeFi. As the demand for innovative crypto solutions continues to rise, Solana memecoins investors could take advantage of this opportunity for a secured investment opportunity.
For more information about the RCO Finance (RCOF) Presale:
Visit RCO Finance Presale
Join The RCO Finance Community
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
Memecoins cashing on the popularity of pet squirrel and social media star ‘Peanut' have become the new money-minting opportunities for cryptocurrency degens.
A coin with a similar name was launched on Solana (CRYPTO: SOL)-based DEX Raydium, which was up a whopping 336% in the last 24 hours, though having a far lower market capitalization of $33,790.
It is worth noting that the liquidity of these tokens is very low because they are not traded on major cryptocurrency exchanges and are only available on DEXs as of this writing, making them vulnerable to extreme price swings.
See Also: Satoshi Nakamoto Identity Prediction Market Appears More Volatile Than Bitcoin: Sassaman Dethrones Peter Todd.
Why It Matters: The death of the adorable creature has become the latest flashpoint ahead of the presidential elections.
New York state officials confiscated and euthanized Peanut, along with a raccoon named Fred, triggering a wave of outrage from social media and influential figures.
Tech mogul and Republican supporter Elon Musk wrote, "President Donald Trump will save the squirrels," along with a condolence message for the animal.
According to the statement from authorities first reported by CBS News, the officials took the action citing potential human exposure to rabies from the animals.
Additionally, a person involved with the investigation was bitten by the squirrel, prompting the officials to put the animals down to test for rabies.
Peanut’s Instagram account is followed by 666,000 followers, with his videos of donning little hats and munching on waffles bringing delight to many.
Image via Wikimedia Commons
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In a recent post on social media platform X (formerly Twitter), Cameron Winklevoss, co-founder of the US-based cryptocurrency exchange Gemini, issued a stark warning to the digital asset community regarding the implications of the ongoing election results.
Winklevoss, along with his brother Taylor, had previously publicly supported former President Donald Trump, donating $1 million in Bitcoin each to his reelection campaign.
Regulatory Fears Prompt Exodus Of Crypto Firms From US Winklevoss highlighted the significant financial toll that the Harris-Biden administration has imposed on the cryptocurrency sector, claiming that legal fees have reached $500 million.
This figure reflects the ongoing scrutiny from the US Securities and Exchange Commission (SEC), which has pursued lawsuits and issued Wells Notices to several major players in the industry, including Binance, Ripple, and Coinbase.
As a result, many firms have incurred substantial legal expenses while defending against regulatory actions, raising concerns about the administration’s approach to cryptocurrency regulation.
The co-founder expressed alarm over the prospect of a Kamala Harris presidency, suggesting that her administration could perpetuate the current regulatory landscape characterized by enforcement rather than guidance.
Winklevoss stated, “Vote Trump and this spending in legal fees goes to $0. Vote Harris and this figure will balloon to billions.”
Cameron Winklevoss’ comments have sparked responses from various industry experts, underscoring the broader implications of regulatory strategies on innovation and growth within the sector.
Wayne Vaughan, a Bitcoin advocate and co-founder of the Tierion blockchain, echoed Winklevoss’s concerns, emphasizing that legal fees are only part of the damage.
Vaughan pointed out that many companies have left the United States or abandoned product developments due to fears of regulatory repercussions, reflecting a growing frustration within the crypto community regarding the perceived hostility of US regulatory bodies.
James Murphy on the other hand, a securities lawyer and long-time proponent of the digital asset sector, also weighed in, suggesting that Winklevoss’s estimate of $500 million in legal costs might be conservative.
Murphy noted that this figure does not account for settlements paid to the SEC by projects unable to sustain prolonged legal battles, further illustrating the financial strain placed on the industry.
Blockchain Association Calls For Leadership Change At SEC Bitcoinist previously reported that according to a report by the Blockchain Association, a crypto-focused lobbying group, the cumulative cost of crypto firms fighting SEC lawsuits over the past few years has reached around $426 million.
This report, published on October 31, criticized the SEC’s “regulation by enforcement” approach, which it argues stifles innovation and economic growth. The association highlighted not only the legal expenses but also the job losses resulting from the regulatory environment.
The Blockchain Association called for a change in leadership at the SEC, framing the current regulatory strategy as a form of “lawfare” that undermines the potential of the crypto industry.
Kristin Smith, the group’s CEO, urged cryptocurrency users and developers to advocate for leadership change, although she did not specify any political affiliations or candidates in her message.
The daily chart shows the total crypto market cap valuation rise on Tuesday. Source: TOTAL on TradingView.com Featured image from DALL-E, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Robert Kiyosaki, a renowned entrepreneur and investor who supports Bitcoin and is also well known for authoring the popular book “Rich Dad Poor Dad,” has issued a tweet discussing the growing significance of BTC under the current economic conditions in the U.S.
He shared an investment plan that he has been following with his X audience, which includes regular Bitcoin investments.
Kiyosaki on Bitcoin and "fake US dollars"Financial guru Kiyosaki revealed that he has been “hiding real money,” which he calls gold and silver. According to his tweet, he now owns “tons of gold and silver” AS, in 1985, he also began to buy his own gold and silver mines.
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The investor reminded the audience that U.S. dollars are not currently backed by anything, hinting that the gold standard was removed. Now, aside from gold and silver, he also saves the digital gold. He said, “I save Bitcoin.”
WHO CARES? I watch in amusement as so called “experts” debate Gold vs Bitcoin. I was fortunate enough to realized “We The People” were being “F’d” by our own government in 1965.
In 1965, when I was 18 years old, I could see “copper” on the edge of our “silver” coins. Only 18…
— Robert Kiyosaki (@theRealKiyosaki) November 28, 2024 Kiyosaki took a jab at those running the U.S. Treasury – Janet Yellen – and the Fed; both are run by people who are similar to his “poor dad” caricature from his aforementioned book. The “poor dad” is a composite image of someone who has little or no financial literacy and relies on a poorly managed economy, while the “rich dad” from the book is a generalized way to discuss people who do not just save money that gets devalued quickly but use it to boost their wealth with profitable assets.
It is no wonder, Kiyosaki said, that “poor dads” Yellen and the Federal Reserve have triggered the U.S. to become “the biggest nation debtor in history.” He then expressed his take on the current purchasing power of the USD that is the result of that growing debt: “Our dollar will soon be toilet paper.”
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Kiyosaki suggests buying Bitcoin to get richerIt is important under the current economic conditions in the U.S., he believes, to invest in coins every month, whether it is gold, silver or Bitcoin. If you do not know which you want to bet on, he says, just “buy one gold coin, or one silver coin, or one Bitcoin Satoshi.” Then he recommends setting a monthly goal of purchasing the chosen asset.
“Choose one coin, gold, silver, or Bitcoin….set a monthly goal….and get richer,” he said in the tweet.
