🚀 Bitcoin(BTC) Drops Below 96,000 USDT with a 1.14% Decrease in 24 Hours
#Bitcoin #BTC #USDT #cryptocurrency #Binance #marketdata #trading
On Dec 20, 2024, 21:10 PM(UTC). According to Binance Market Data, Bitcoin has dropped below 96,000 USDT and is now trading at 95,975.421875 USDT, with a narrowed 1.14% decrease in 24 hours.#Bitcoin #BTC #USDT #cryptocurrency #Binance #marketdata #trading
🚀 Web3 Applications Face Speed Challenges Due To Data Indexing
#Web3 #DApps #DataIndexing #Blockchain #Pangea #Throughput #Ethereum #Layer2 #DevCon2024 #Starknet #ZKsync #Solana #TransactionsPerSecond #Interoperability #ETH #SOL
According to Cointelegraph, decentralized applications (DApps), also known as Web3 applications, often experience slower performance compared to their Web2 counterparts. This is primarily due to the need to organize blockchain data from multiple sources. Maxim Legg, CEO of Pangea, a decentralized data indexing solution, highlighted that data indexing could address the speed bottleneck faced by Web3 applications.
Legg explained that data from RPC nodes, smart contracts, and other blockchain infrastructure can accumulate to hundreds of terabytes on high-throughput chains. Indexing involves organizing this raw blockchain data to facilitate efficient recall later. He emphasized that this is a significant infrastructure issue that should be resolved once, rather than individually by each DApp developer. However, many Web3 developers are compelled to create in-house indexing solutions, which are often inefficient, overly complex, and time-consuming.
The throughput of a blockchain, measured in transactions per second (TPS), directly impacts the volume of on-chain data that must be indexed by a DApp interacting with that chain. In October, Ethereum co-founder Vitalik Buterin outlined plans to scale the Ethereum base layer and its layer-2 scaling solutions to process over 100,000 transactions per second combined. These plans also aim to enhance interoperability between Ethereum and its numerous layer-2 networks.
At the DevCon 2024 conference, StarkWare CEO Ben Sasson mentioned that Starknet, an Ethereum layer-2 scaling solution, aims to quadruple its TPS within three months, potentially rivaling the Solana network's throughput. Similarly, the layer-2 solution ZKsync is targeting higher throughput, with developers aiming to increase it to 10,000 TPS by 2025 while reducing transaction fees to as low as $0.0001. Solana's non-voting throughput currently ranges from 800 to 1,050 TPS, and its high-throughput, monolithic design has attracted significant developer interest, positioning it as a leading ecosystem for development in 2024.#Web3 #DApps #DataIndexing #Blockchain #Pangea #Throughput #Ethereum #Layer2 #DevCon2024 #Starknet #ZKsync #Solana #TransactionsPerSecond #Interoperability #ETH #SOL
🚀 Rumble Secures $775 Million Investment From Tether
#Rumble #Tether #investment #stablecoin #shares #growth #media #collaboration #cryptocurrency #bitcoin
According to CoinDesk, video platform Rumble has announced a significant strategic investment deal with Tether, a leading stablecoin company, amounting to $775 million. This investment aims to bolster Rumble's operations and facilitate a tender offer for its common stock. Specifically, $250 million of the funds will be allocated to support Rumble's operational activities, while the remaining amount will be used to purchase up to 70 million shares of its common stock at $7.50 per share, matching the price Tether is paying for its stake.
Rumble CEO Chris Pavlovski expressed enthusiasm about the partnership, stating that Tether is an ideal partner to propel Rumble into its next growth phase. Tether CEO Paolo Ardoino highlighted the declining trust in legacy media, suggesting that this creates a space for platforms like Rumble to provide credible and uncensored alternatives. Ardoino also mentioned Tether's plans to explore further collaborations with Rumble in advertising, cloud services, and crypto payment solutions.
Following the announcement, Rumble's shares surged by 41% in after-hours trading, reaching $10.13. However, it remains unclear whether any of the investment proceeds will be used to acquire bitcoin for Rumble's balance sheet. Previously, Pavlovski had hinted at the possibility of the company investing in bitcoin, but no definitive plans have been disclosed.#Rumble #Tether #investment #stablecoin #shares #growth #media #collaboration #cryptocurrency #bitcoin
🚀 USYC Market Cap Surpasses $12 Billion, Leading Tokenized U.S. Treasury Products
#USYC #MarketCap #TokenizedTreasury #USTreasury #BlackRock #Securitize #BUIDL
According to Odaily, the market capitalization of USYC has surged by over $12 billion, making it the largest tokenized U.S. Treasury product. This growth positions USYC ahead of similar offerings from BlackRock and Securitize's BUIDL.#USYC #MarketCap #TokenizedTreasury #USTreasury #BlackRock #Securitize #BUIDL
🚀 U.S. Justice Department Charges Two Men in $22 Million Crypto Fraud
#JusticeDepartment #CryptoFraud #DigitalAssets #NFT #InvestmentFraud #SouthernCalifornia #Indictment #FraudulentSchemes #DeceptivePractices #HayAndMayo
According to PANews, the U.S. Department of Justice has unveiled an indictment charging two Southern California men with defrauding investors of over $22 million through various digital asset schemes. Court documents reveal that from May 2021 to May 2024, the accused, Hay and Mayo, sponsored multiple NFT and digital asset projects, promoting them with misleading campaigns. They allegedly made or encouraged others to make significant false and misleading statements about upcoming digital asset projects and provided deceptive project 'roadmaps' outlining post-launch plans that were never intended to be fulfilled.
The indictment further alleges that Hay and Mayo employed these tactics across several digital asset projects, including Vault of Gems, Faceless, Sinful Souls, Clout Coin, Dirty Dogs, Uncovered, MoonPortal, Squiggles, and Roost Coin. Additionally, they reportedly used various methods to conceal their involvement in the fraudulent projects, such as misidentifying other individuals or causing others to be wrongly identified as project owners.#JusticeDepartment #CryptoFraud #DigitalAssets #NFT #InvestmentFraud #SouthernCalifornia #Indictment #FraudulentSchemes #DeceptivePractices #HayAndMayo
🚀 BNB Surpasses 680 USDT with a 1.63% Increase in 24 Hours
#BNB #USDT #Binance #cryptocurrency #trading #priceincrease #marketdata
On Dec 21, 2024, 00:34 AM(UTC). According to Binance Market Data, BNB has crossed the 680 USDT benchmark and is now trading at 680.219971 USDT, with a narrowed 1.63% increase in 24 hours.#BNB #USDT #Binance #cryptocurrency #trading #priceincrease #marketdata
🚀 Significant Fund Movements in Grayscale and ARK Investments
#Grayscale #ARKInvestments #cryptocurrency #fundmovements #netinflows #netoutflows
According to BlockBeats, recent data from Farside Investors reveals notable fund movements in major investment vehicles. On December 21, Grayscale's GBTC experienced a net outflow of $57.4 million, while ARK's ARKB saw a net outflow of $87 million. In contrast, Franklin's EZBC reported a net inflow of $5.6 million, and Grayscale's Mini BTC recorded a net inflow of $6.4 million. These shifts highlight the dynamic nature of investment flows in the cryptocurrency sector.#Grayscale #ARKInvestments #cryptocurrency #fundmovements #netinflows #netoutflows
🚀 ETH/BTC Exchange Rate Sees Significant Increase
#ETH #BTC #ExchangeRate #Cryptocurrency #MarketTrends #BlockBeats
According to BlockBeats, the ETH/BTC exchange rate experienced a notable rise following a period of extreme downward trend. As of 8 a.m. UTC+8 today, the daily candlestick chart showed an increase, with the maximum intraday gain reaching 7.5%. The current rate is reported at 0.0355.#ETH #BTC #ExchangeRate #Cryptocurrency #MarketTrends #BlockBeats
🚀 Brazilian Senate to Discuss Future of Cryptocurrency Market
#Brazil #Senate #Cryptocurrency #DigitalEconomy #Finance #CryptoAdoption #PANews
According to PANews, a multiparty group in Brazil has requested a special Senate meeting to discuss the current state of the country's cryptocurrency market. The meeting, titled 'Cryptocurrency Market: The Future of Finance and the Digital Economy,' aims to explore the benefits and challenges that the increasing adoption of cryptocurrencies may bring to Brazil.#Brazil #Senate #Cryptocurrency #DigitalEconomy #Finance #CryptoAdoption #PANews
🚀 South Korean Police Investigate Officials Over Emergency Martial Law
#SouthKorea #MartialLaw #PoliceInvestigation #Government #NationalSecurity #SouthKoreanOfficials #EmergencyPowers #PoliticalInquiry #YoonSukYeol #HanDuckSoo
According to PANews, the South Korean National Police Agency's Special Investigation Team has conducted inquiries into nine officials who participated in a state council meeting before and after the declaration of emergency martial law. The investigation excludes President Yoon Suk-yeol, former Defense Minister Kim Yong-hyun, and Unification Minister Kim Young-ho. The officials under investigation include Acting President and Prime Minister Han Duck-soo, Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho, Minister of Justice Park Beom-kye, former Minister of the Interior and Safety Lee Sang-min, Minister of Foreign Affairs Cho Tae-yong, Minister of Agriculture, Food and Rural Affairs Song Mi-rim, Minister of Health and Welfare Cho Kyu-hong, Minister of SMEs and Startups Oh Young-sook, and Director of the National Intelligence Service Cho Tae-yong.#SouthKorea #MartialLaw #PoliceInvestigation #Government #NationalSecurity #SouthKoreanOfficials #EmergencyPowers #PoliticalInquiry #YoonSukYeol #HanDuckSoo
🚀 David Sacks Appointed As AI And Crypto Advisor Amid Controversy
#DavidSacks #AI #Crypto #DonaldTrump #advisorycommittee #venturecapitalist #CraftVentures #technologypolicy #SiliconValley #startups
According to Odaily, former President Donald Trump recently appointed David Sacks as the "AI and Crypto Czar" to lead a new advisory committee, drawing significant attention. Sacks, a venture capitalist, podcast host, and former PayPal executive, was initially set to take on a leadership role. However, insiders from the transition team revealed that last week, the position was downgraded to a general advisory role. This change was partly due to Sacks' reluctance to leave his investment firm, Craft Ventures, and his unwillingness to undergo the formal appointment process.
In the future, Michael Kratsios is expected to lead technology policy efforts, with Sacks contributing policy ideas. Despite the change in his role, Sacks remains influential, frequently operating in Florida and San Francisco and meeting with lawmakers. His appointment has sparked controversy over potential conflicts of interest, though some in Silicon Valley are optimistic, believing he could benefit startups. However, there are concerns about his expertise and the direction of policy under his influence.#DavidSacks #AI #Crypto #DonaldTrump #advisorycommittee #venturecapitalist #CraftVentures #technologypolicy #SiliconValley #startups
🚀 Tai Mo Shan Ltd. Settles With SEC Over TerraUSD Misleading Claims
#TaiMoShan #SEC #TerraUSD #cryptocurrency #settlement #Luna #investors #securitieslaws #LUNA
According to Foresight News, Tai Mo Shan Ltd., the cryptocurrency division of Jump Trading, has agreed to pay $123 million to settle allegations by U.S. regulators that it misled investors about the stability of the TerraUSD algorithmic stablecoin. The U.S. Securities and Exchange Commission (SEC) announced on Friday that the company also resolved accusations of violating securities laws while underwriting TerraUSD's sister token, Luna. Tai Mo Shan neither admitted nor denied the SEC's allegations as part of the settlement.
TerraUSD was designed to maintain a constant value of $1 through a complex algorithm involving Luna and trader incentives. However, the SEC stated that Tai Mo Shan's substantial purchasing activities artificially stabilized the coin, misleading the market into believing the algorithmic mechanism was effective.#TaiMoShan #SEC #TerraUSD #cryptocurrency #settlement #Luna #investors #securitieslaws #LUNA
🚀 Google Updates Cryptocurrency Advertising Policy for 2025
#Google #Cryptocurrency #AdvertisingPolicy #FinancialServices #CryptocurrencyExchanges #UK #GoogleCertification #FCA #HardwareWallets #NFTs #CryptoAssets
According to PANews, Google has announced an update to its financial products and services policy, which will take effect in January 2025. The update clarifies the scope and requirements for advertising cryptocurrency-related businesses and services. Starting January 15, 2025, advertisers offering cryptocurrency exchanges in the United Kingdom can promote these products and services, provided they meet specific criteria and obtain Google certification.
For cryptocurrency exchanges and software wallets in the UK, Google will permit advertisements if the advertisers are registered with the Financial Conduct Authority (FCA). Additionally, they must comply with any other local legal requirements.
Regarding hardware wallets in the UK, Google will allow advertisements for devices used to store private keys for cryptocurrencies, NFTs, or other crypto assets. However, these advertisements must not offer additional services such as buying, selling, exchanging, or trading assets. Advertisers must also adhere to any other local legal requirements.
All advertisers must obtain Google certification to run these advertisements.#Google #Cryptocurrency #AdvertisingPolicy #FinancialServices #CryptocurrencyExchanges #UK #GoogleCertification #FCA #HardwareWallets #NFTs #CryptoAssets
🚀 Fidelity Sees Significant Outflows And Inflows In Cryptocurrency Funds
#Fidelity #cryptocurrency #funds #outflows #inflows #FBTC #FETH #BlockBeats
According to BlockBeats, Farside Investors reported on December 21 that Fidelity's cryptocurrency funds experienced notable financial movements. The FBTC fund saw a net outflow of $71.9 million, while the FETH fund recorded a net inflow of $13 million.#Fidelity #cryptocurrency #funds #outflows #inflows #FBTC #FETH #BlockBeats
🚀 Tether Anticipates Over $10 Billion Net Profit By Year-End
#Tether #USDT #NetProfit #Cryptocurrency #Bitcoin #Investment #Rumble #AIGrowth #CryptoMarket
According to Odaily, Tether's CEO Paolo Ardoino has announced that the company is on track to achieve a net profit exceeding $10 billion by the end of the year. This financial success is attributed to the rising demand for its US dollar-pegged stablecoin, USDT, driven by the increasing prices of cryptocurrencies like Bitcoin. The market capitalization of USDT has surpassed $140 billion. This year, Tether has allocated more than half of its profits to investments, including funding for the video platform Rumble. Looking ahead to next year, Tether plans to continue this investment strategy by dedicating at least half of its profits to further investments. In the first quarter, the company intends to launch an AI platform and explore investment opportunities within the US cryptocurrency sector.#Tether #USDT #NetProfit #Cryptocurrency #Bitcoin #Investment #Rumble #AIGrowth #CryptoMarket
🚀 Circle's USDC Circulation Increases by $900 Million
#Circle #USDC #cryptocurrency #circulation #finance #reserves #PANews
According to PANews, official data reveals that Circle issued approximately $3.8 billion in USDC and redeemed around $2.9 billion USDC over the seven days leading up to December 19. This activity resulted in an increase of about 900 million USDC in circulation. The total circulation of USDC now stands at 42.3 billion, with reserves amounting to approximately $42.5 billion. Of these reserves, about $4.9 billion is held in cash, while the Circle Reserve Fund holds approximately $37.6 billion.#Circle #USDC #cryptocurrency #circulation #finance #reserves #PANews
🚀 Luxembourg Passes Blockchain Law to Facilitate DLT Securities
#Luxembourg #BlockchainLaw #DLT #Securities #ForesightNews #Regulations #CSSF #InvestmentFirms #CentralSecuritiesDepository
According to Foresight News, Luxembourg has enacted its fourth blockchain law, known as 'Blockchain Law 4,' aimed at simplifying the adoption of distributed ledger technology (DLT) for securities. The new legislation introduces a two-tier system under the current DLT securities framework. The first tier involves a central account manager, akin to a central securities depository (CSD), but with less complexity. The second tier pertains to account managers, or custodians.
In this framework, EU credit institutions, investment firms, or central securities depositories can act as control agents. While obtaining a license in Luxembourg is not required, entities must notify the regulatory authority, the Commission de Surveillance du Secteur Financier (CSSF), several months in advance.#Luxembourg #BlockchainLaw #DLT #Securities #ForesightNews #Regulations #CSSF #InvestmentFirms #CentralSecuritiesDepository
🚀 Nexo 7RCC Bitcoin And Carbon Credit Futures ETF Amendment Submitted
#Nexo #Bitcoin #CarbonCredits #FuturesETF #SEC #Finance #Investing #S1Amendment #BTC
According to BlockBeats, on December 21, Nate Geraci, President of The ETF Store, announced on social media that the S-1 amendment for the Nexo 7RCC Spot Bitcoin and Carbon Credit Futures ETF has been submitted. As the name suggests, this ETF comprises 80% Bitcoin and 20% carbon credit futures. The SEC has approved the 19b-4 filing, and the ETF is expected to launch soon.#Nexo #Bitcoin #CarbonCredits #FuturesETF #SEC #Finance #Investing #S1Amendment #BTC
🚀 Hong Kong Considers Stablecoin Issuer Regulations
#HongKong #Stablecoin #Regulations #VirtualAssets #CrossBorderPayments #LicensingSystem #FinancialInfrastructure #ReserveAssets #LegislativeCouncil
According to PANews, a new bill regulating stablecoin issuers has been submitted to Hong Kong's Legislative Council for review. This follows the introduction of a licensing system for virtual asset trading platforms. Hong Kong legislator Ng Kit Chuang emphasized that stablecoins are a fundamental part of virtual asset infrastructure, serving not only as investment tools but also facilitating cross-border payments. Ng noted that the current regulatory proposal suggests issuers should deposit reserve assets with Hong Kong banks, which may not align with local regulations of certain coin issuers. Efforts are underway to communicate with the government and industry stakeholders to find a compromise, such as establishing mutual recognition contracts or notes between jurisdictions. This approach aims to ensure that assets do not need to be physically held in Hong Kong while still providing protection for Hong Kong citizens.#HongKong #Stablecoin #Regulations #VirtualAssets #CrossBorderPayments #LicensingSystem #FinancialInfrastructure #ReserveAssets #LegislativeCouncil
🚀 BlackRock ETF Experiences Significant Net Outflow
#BlackRock #ETF #NetOutflow #Investment #Finance
According to BlockBeats, on December 21, monitoring by Trader T revealed that BlackRock's IBIT ETF experienced a net outflow of $72.84 million the previous day. This marks the fourth instance of a net outflow for the ETF in its 239 days since inception.#BlackRock #ETF #NetOutflow #Investment #Finance
🚀 Ethereum(ETH) Surpasses 3,500 USDT with a 4.17% Increase in 24 Hours
#Ethereum #ETH #USDT #cryptocurrency #Binance #marketdata #trading #increase
On Dec 21, 2024, 05:47 AM(UTC). According to Binance Market Data, Ethereum has crossed the 3,500 USDT benchmark and is now trading at 3,507.25 USDT, with a narrowed 4.17% increase in 24 hours.#Ethereum #ETH #USDT #cryptocurrency #Binance #marketdata #trading #increase