Altcoin News

Aave DAO has launched the decentralized stablecoin GHO on the Ethereum mainnet. Users can use the assets in Aave V3 as collateral for over-collateralized minting.

In addition, GHO is completely managed by Aave DAO, which is responsible for formulating rules and policies for managing GHO. Community members must submit proposals to DAO. The proposal will be publicly discussed in the community for a period of time, and then voted. The vote will determine whether the proposal will be approved by DAO. support and implementation.

Aave DAO has voted to approve the AIP proposal to launch GHO on the Ethereum mainnet.

This proposal aims to introduce GHO to the Ethereum mainnet through the Aave V3 Facilitator and the FlashMinter Facilitator. Aave V3 users on Ethereum will be able to mint GHO using collateral.

The European Banking Authority (EBA) said on Wednesday that issuers of stablecoins should start preparing for new EU rules, even though they will come into force next June.

The regulator said the EBA wanted to encourage timely preparatory action ahead of that start date to protect consumers and reduce hardship for businesses on June 30.

EU Markets in Cryptoassets (MiCA) regulation, which sets out governance and reserve requirements for cryptocurrencies pegged to the value of other assets, will come into force six months ahead of other licensing rules for crypto wallet providers and exchanges.

The European Union’s ESMA publishes the first batch of detailed cryptocurrency rules.

Hong Kong is exploring the launch of stablecoin HKDG to compete with established stablecoins such as USDT and USDC. By backing HKDG with foreign exchange reserves, the government seeks to foster financial innovation and maintain its leadership in the blockchain space.

By issuing a Hong Kong dollar-pegged stablecoin (HKDG), the government aims to increase transaction efficiency, reduce costs and improve the existing payment system. The move is expected to strengthen Hong Kong’s fintech capabilities and improve the efficiency and inclusiveness of its financial system.

However, the government’s current plan to allow private institutions to issue Hong Kong dollar stablecoins may limit its market share and overall impact.

A new report by influential financial lobby group UK Finance is pushing the UK government to put the tokenized market at the top of its agenda.

UK Finance, the influential lobby group for banks and financial institutions in the UK, has laid out a five-year plan for the country’s government to become a world leader in the tokenization market.

UK Finance Chairman Bob Wigley said, “Tokenization of securities has the potential to transform financial markets by reducing costs, reducing risk and increasing market access. But if bold action is not continued, the UK risks falling behind other jurisdictions.”

A new study by Juniper Research, an expert in the emerging payments space, has found that the value of global stablecoin-powered payment transactions will exceed $187 billion by 2028, up from $53 billion in 2023.

The study found that stablecoins in particular have made rapid progress in cross-border markets, where they are a key way to bypass slow, expensive and difficult-to-trace existing cross-border payment corridors.

By 2028, cross-border stablecoin payment transaction volume will account for nearly 73% of the total global stablecoin payment transaction volume; showing the dominance of cross-border use cases.

Stablecoins are very effective because they eliminate various stages in the cross-border process, increase the speed of transactions and settlements, and greatly improve traceability. The main hurdle to further growth is acceptance, and the launch of stablecoins requires building and scaling new networks.

Stablecoins haven’t generally rallied as bitcoin prices approached all-time highs this year. Ratings agency Fitch noted in a report that stablecoin trading volumes are low compared to the industry’s total market capitalization.

The Block’s data dashboard shows that the total supply of stablecoins has dropped from $138 billion at the beginning of the year to $124 billion on July 3.

The monthly average daily trading volume of the top ten stablecoins dropped from $53 billion in March 2023 to $28 billion in May. However, Fitch noted that assets backing stablecoins have better liquidity.

Shapeshift founder and long-time Bitcoin advocate Erik Voorhees believes that DeFi has solved the problem of regulatory clarity, prohibiting people from owning or trading most cryptocurrencies.

Voorhees said that DeFi is “permissionless” in nature, meaning that if people want to trade and own altcoins that are not listed on a centralized exchange, they can turn to a decentralized protocol.

DeFi protocols do not require explicit regulatory or operating licenses, and there is little that governments can do to intervene beyond making DeFi-related transactions illegal.

The Chibi Financial Project’s native token, CHIBI, has fallen 99% since reports emerged that the team behind the Chibi Financial Project stole over $1 million from various investors.

This DeFi runs on Arbitrum’s L2. CHIBI was quoted at $0,00964534 at the time of writing, down 5.1% over the past 24 hours. The coin has seen a 99,40% price drop over the past two days, reaching $1,62 on June 26.

The Chibi Finance project is suspected to have a Rug Pull, and the cryptocurrency worth 1 million US dollars was exhausted. The stolen funds have been exchanged for approximately 555 ETH and transferred to Tornado Cash after bridging from Arbitrum to Ethereum.

Bank of America (BAC) said in a research note on Thursday that tokenization is just one application of blockchain technology, but it is one that could transform financial and non-financial infrastructure and financial markets over the next five to 15 years. application.

Bank of America notes that it took 30 years for disruptive technologies like radio, television and email to reach mainstream adoption. It expects a much shorter lag period for digital assets. With the “increasing opportunity cost of unearned efficiencies,” the implementation of blockchain technology will accelerate across financial institutions and enterprises.

An investigative report by crypto analytics firm Solidus Labs shows that 56% of ERC-20 tokens were involved in insider trading when they first listed on the three top centralized cryptocurrency exchanges.

The report studied 234 ERC-20 token listing announcements from three of the world’s largest centralized trading platforms. According to on-chain data, 411 transactions in the scope of the investigation were related to more than 100 insiders.

Many entities use DeFi trading platforms to buy tokens before they are listed on CEX, and make a profit by selling these tokens after the listing is announced and the price increases. In total, the insiders are estimated to have profited around $24 million from the illicit transactions.

Solidus Labs co-founder Chen Arad said that if more than half of all tokens listed are not tokens that can be purchased in trust, then it is an inefficient market. This problem is one of the obstacles in taking cryptocurrency to the next level.

DeBank’s top 10 whale wallet address trader @DefiSquared posted on social media that the Sui Foundation is deliberately distorting SUI emissions, and there is evidence that the Sui team is transferring locked and non-negotiable SUI staking rewards to Binance sell off.

@DefiSquared stated that the SUI supply is actually increasing daily, including emissions from locked SUI allocations (such as VC shares) that are free to unlock without restriction. Pledge release is roughly equivalent to an additional release of 33,000,000 SUI per month. Of the 600 million SUI circulating supply, approximately 250 million are non-base circulating supply, which means that these releases have increased by 10% of the non-base circulating supply.

In addition to the monthly token supply, there is also a monthly non-base circulating SUI of 37 million from Launchpad. In other words, if investors hold SUI, their current monthly holdings will be diluted by about 20%.

In addition, according to the data on the chain, the SUI Foundation, which has nearly 3 billion non-circulating and locked SUI (6 times the entire circulating supply), is selling unlocking rewards on the open market. The foundation address (holding 2.7 billion SUI) has sent 27,000,000 SUI to the Binance platform.
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Since the launch of the Ethscriptions protocol in mid-June, the transaction volume of tokens issued based on the protocol has exceeded 560 ETH ($1 million), according to OpenSea.

Still, the protocol is currently in a highly speculative phase and lacks a clear value proposition. But its creator, Tom Lehman, asserts that Ethscriptions offer a cost-effective alternative to Ethereum NFTs.

It should be noted that tokens issued based on Ethscriptions are not exactly like traditional NFTs. They do not comply with the ERC-721 standard (the standard most commonly associated with NFTs on Ethereum) and cannot be transferred or sold in the same way. They are the only representation of data permanently recorded on the Ethereum blockchain.

Japan’s largest bank, Mitsubishi UFJ, is said to be in talks with the firm behind the popular global stablecoin and others to issue such tokens through the bank’s blockchain platform.

Japan’s stablecoin law, one of the first legislation in a major economy, came into effect on June 1, which effectively means that only licensed banks and related financial companies in the country can issue tokens.

MUFG vice president of product Tatsuya Saito said the bank is in discussions with various parties to use its blockchain platform Progmat to create stablecoins pegged to foreign currencies, including the U.S. dollar, for global use.

He said that now that Japan’s legislation is in effect, issuers and users will have a sense of security when using stablecoins. However, he declined to say which stablecoin parties he is negotiating with.

Shibburn, a SHIB destruction data tracker, tweeted, “Our Twitter app was suspended a few hours ago and we strongly believe this was a mistake. A message on the developer portal states that our app violated Twitter’s rules and regulations. policy. It also mentions that an email has been sent to us with more details, but we never received it. Also, we are having trouble submitting support requests as the form is not showing up. Last two years , our App has been active on Twitter without any issues or violations of the platform’s regulations.We’ve worked hard to follow Twitter’s guidelines and maintain a positive image. I kindly request your assistance in resolving this matter. ”

Shibburn tweeted that its bots were unable to post content on Twitter due to the previously mentioned issues. However, users can view the latest SHIB destruction data through its website.

SafeDAO, the governance community of digital asset management platform Safe (formerly Gnosis Safe), once again launched an official proposal to enable the transferability of SAFE tokens.

Currently SEP#2 has been submitted to the community to enable the transferability of SAFE tokens, and the community voted to delay making SAFE tokens transferable. SEP#3 followed, voting to complete some milestones before enabling token transferability.

About eight months ago, SAFE tokens were eligible to be claimed, but the transferability of the tokens was locked as a function of the smart contract. Previously, SafeDAO’s proposal on “open SAFE tradability” was not approved.

Turks are flocking to the cryptocurrency market as a safe haven against the lira’s plunge. Local demand for USDT surged ahead of the general election in early May and has remained high since Erdogan’s re-election as Turkey’s president sparked market turmoil.

In early June, the lira accounted for 10 percent of the total in the $1.1 trillion-a-day crypto market, after peaking at 18 percent in May and 4 percent in early 2023, according to data from Kaiko. %.

Despite the global regulatory crackdown on the crypto asset class, the lira fared worse, falling below record lows in recent days. The Turkish lira has fallen 11% against the dollar in the past week as the central bank pulled back from intervention in the currency after the election.

According to data from blockchain analysis company Glassnode, the inflow of funds in the cryptocurrency market in the past 30 days was mainly driven by the inflow of funds in Bitcoin (a monthly increase of 4.47 billion US dollars) and Ethereum (a monthly increase of 3.5 billion US dollars).

However, due to the large number of redemptions in the stablecoin space, stablecoin capital outflow reached about 1.2 billion US dollars, which partially offset the inflow growth.

The outflow of stablecoin funds is mainly affected by the second largest asset (USDC) and the third largest asset (BUSD), whose supply decreases by 15.7 billion US dollars and 11.5 billion US dollars in 2023, while the largest asset (USDT) absorbs Most of the stable currency liquidity.

Cumberland, the cryptocurrency subsidiary of DRW, released a report on non-US dollar stablecoins. The report pointed out that currently, US dollar-denominated stablecoins account for 99.3% of all stablecoins and are also among the top ten stablecoin tokens.

The report highlighted multiple use cases for non-U.S. dollar stablecoins, including foreign exchange transactions and cross-border remittances. Bringing even a fraction of the $7.5 trillion in average daily forex trading volume into the crypto orbit would have a huge boost to volume.

In addition, the report noted some cost comparisons for converting dollars to euros.

Uniswap Research puts the cost of exchanging $500 on Uniswap at $7, compared with $28 for banks and $19 for remittance operators.

The G7 G7 and the G20 G20 have differences in the treatment of stablecoins. The developed economies that make up the G7 seem to be more willing to allow and regulate stablecoins. Emerging economies represented by the G20 Group call for stricter restrictions, and even prohibit.

Both have pledged to implement the FATF’s cryptocurrency anti-money laundering rules. The disagreement between the two agencies could hinder acceptance of global norms for stablecoins, or at least threaten to undermine the unified regulation envisioned by global financial watchdogs, two senior officials involved in discussions at the forum said.

Megabank Mitsubishi UFJ Financial Group (MUFG) has announced that its stablecoin issuance platform, Progmat Coin, will soon be used by the Bank of Japan to launch yen-pegged stablecoins on multiple public blockchains.

In a June 2 announcement, MUFG outlined that Progmat Coin will be used to facilitate the issuance of bank-backed stablecoins on Ethereum, Polygon, Avalanche and Cosmos, with more networks to be added in the future.

MUFG also revealed that its blockchain technology and security partners TOKI and Datachain are building a bridge to enable cross-chain transactions, lending and swaps between the list of supported blockchains. The bank expects the cross-chain infrastructure to launch in the second quarter of 2022.

Obligate, the DeFi on-chain bond platform on Polygon, announced that olive oil producer Lamar Olive Oil used Obligate for the first time to issue an on-chain bond for the sustainable agriculture industry.

The corporate bond is the first EUROe-denominated issue of Membrane Finance, which the company says is the only EU-regulated cryptocurrency stablecoin, and said the underwriting and structuring process, including credit assessment and ongoing risk monitoring, was managed by Obligate’s Credit Ratings partner Credora conducts.

Obligate is built on the Polygon chain to help small and medium-sized enterprises issue, track and settle debt by providing a safe and transparent way, and as the threshold for issuing bonds is lowered, companies in developing countries and emerging markets can obtain more income and access to funds.

Smart contracts replace the roles of issuers and payment agents in the settlement layer of traditional bond issuance.

The U.S. Securities and Exchange Commission (SEC) has begun cracking down on cryptocurrency influencers, issuing several fines and cease and desist orders over the past few years.

The SEC is going after crypto influencers who promote scam projects, and the SEC has found that the prices of certain tokens are being manipulated based on their tweets.

Former U.S. Securities and Exchange Commission Chairman John Reed Stark warned such cryptocurrency influencers on Twitter to prepare for a blow.

According to data from IntoTheBlock, the number of SHIB holders’ addresses in a state of floating losses has exceeded 1 million, accounting for 79.86% of all addresses.

These addresses hold a total of 887.86 trillion SHIB worth $7.75 billion, accounting for 90.31% of the total SHIB supply.

It is worth noting, however, that 410.35 trillion SHIBs are stored in a “dead” address for destruction. This means that a significant portion of the SHIB supply is effectively unusable.

Of the aforementioned 1 million addresses, more than a third were individuals who purchased SHIB in the $0.000009 to $0.000014 price range.

NBA Dallas Mavericks owner Mark Cuban commented on a recent tweet regarding the US SEC calling Filecoin (FIL) a security and sent a letter to Grayscale on the issue.

One possible scenario for cryptocurrency issuing platforms, Cuban said, is that they release the entire token supply without keeping a portion as a treasury. The issued tokens should be used to provide liquidity using DeFi, and the original entity that issued the tokens should be dissolved.

In this case, he argues, “true decentralization” exists, and regulators such as the SEC won’t be able to “shut down the token,” accusing it of being a security, as they do with XRP, FIL, and other cryptocurrencies Same.

Since the beginning of the year, the cryptocurrency market capitalization has soared 41.77%, and the current market value reaches 1.17 trillion US dollars.

Amid this growth, however, the stablecoin economy suffered a massive loss of $7.3 billion in 140 days.

Archived records show that on Jan. 6, the stablecoin economy was valued at $138.12 billion, but as of today, that has shrunk to $130.79 billion. It is worth noting that many stablecoin projects have experienced significant Redeemed, USDC alone lost over $14 billion.

Likewise, BUSD suffered over $11 billion in redemptions since the first week of January, while DAI faced $361 million in redemptions.

Corey Then, vice president of global policy at Circle, said he is optimistic that, while the review is still ongoing, regulatory developments in the U.S. will ultimately benefit local players.

The draft stablecoin bill recently released by the U.S. House of Representatives Financial Services Committee requires stablecoin issuers to maintain 1:1 reserves to back their stablecoins.

The bill could also open the door for stablecoin issuers to hold a portion of their reserves at the U.S. central bank, effectively reducing their exposure to commercial banks, a major development that promises to create the most reliable stablecoin in the world.

DOGE blockchain transaction volume has reached 628,209, ahead of Bitcoin and Litecoin. According to the community, this may be related to the activity of the DRC-20 standard token.

According to crypto enthusiast Martin Stauber, he disputes the claim that the surge in transactions is due to DRC-20 tokens.

According to Martin Stauber, the main transaction volume comes from a few large addresses making small transfers, with one wallet sending 5,766 transactions per day.

Masaaki Taira, a lawmaker from Japan’s ruling Liberal Democratic Party and head of the Web3 project team, said at the NexTech Week trade show in Tokyo on Thursday that Japan has seen the future, and that is blockchain.

While other jurisdictions try to regulate a space that is not fully understood, Japan has a relatively good grasp of what we are trying to push, and global technology companies have taken notice.

Additionally, Japan’s experiments with stablecoins are bearing fruit, with the agency looking for ways to link public and private blockchains to improve scalability.

And Japan’s soft power in animation, manga, and games is very suitable for the Web3 field, especially in the field of NFT and Metaverse development, which are full of untapped potential value.

According to an announcement issued by Metal Blockchain, Fedow, the Federal Reserve’s digital payment system, will be integrated with Metal Blockchain, which will allow Metal users to use FedNow’s “send/receive” function to instantly convert funds into stablecoins and back again.

Metal Blockchain is an encrypted network developed by Metallicus based on the Avalanche branch. Metal developers claim the network is “built with BSA Bank Secrecy Act compliance,” meaning it has built-in authentication and anti-money laundering features.

According to the announcement, the network has a subnet called “X-Chain,” which allows developers to set rules for transferring assets. For example, tokens can be sent under the rules of “send to US citizens only” or “can only be traded tomorrow”.

According to the data, the Bitcoin inscription token Ordi broke through $19, temporarily reported at $19.58, a 24-hour increase of 17.96%, and its current total market value has reached $411 million.

In addition, there are currently about 14,200 BRC-20-related tokens, with a total market value of more than $700 million, and a trading volume of $203,996,187 in the past 24 hours.

It is reported that the BRC-20 protocol is written directly on the Bitcoin network, using Satoshi as the carrier, and using the JSON data of OrdinalInscriptions to deploy, mint and transfer tokens.

Ordi is the first Bitcoin inscription coin with a total supply of 21 million.

Bitget tweeted that it will be connected to the Bitcoin ecology this month, and the NFT trading market will launch a Bitcoin NFT zone to support the display, casting, transfer, and transaction of Ordinals protocol BTC NFT; the BitKeep wallet will also be compatible with the Taproot address format, which is BRC-20 Tokens provide services such as asset display, transfer and transaction.

After the access is completed, BitKeep users can use the BTC Taproot address format on the mobile terminal and plug-in terminal, and perform operations such as deposit and withdrawal management, transfer transactions, etc. of BRC-20 tokens and Bitcoin NFT.

According to the data, Ordi, the Bitcoin inscription token, broke through $10 in the short-term, and is now reported at $9.6, a 24-hour increase of 103.6%. There are currently 5,197 currency-holding addresses, and the market value has exceeded $200 million.

In addition, there are currently about 12,647 BRC-20 related tokens, with a total market value of about 270 million US dollars. The current market value of Ordi accounts for more than 50% of the total market value of BRC-20.

It is reported that the BRC-20 protocol is written directly on the Bitcoin network, using Satoshi as the carrier, and using the JSON data of Ordinal Inscriptions to deploy, mint and transfer tokens.

Ordi is the first Bitcoin inscription coin with a total supply of 21 million.

Decentralized finance (DeFi) protocol Curve Finance has deployed its native stablecoin crvUSD on the Ethereum mainnet.

Etherscan blockchain data shows that the contract minted a total of $20 million worth of crvUSD tokens in five transactions in five minutes.

The protocol’s governance token, CRV, surged to 97 cents after the news, up 7% on the day, the data showed.

Since the crvUSD stablecoin is not yet integrated into Curve’s user interface, it won’t be available to the public until a later date.

An administrator on the protocol’s official Telegram channel said that the stablecoin’s public release is pending on the front end and will be released soon.

Data shows that Ripple has purchased nearly $11 billion worth of XRP since being sued by the U.S. Securities and Exchange Commission (SEC).

According to the company’s public information disclosure, it has been purchasing XRP from the open market since 2020 (only “paused for a few days” during the US banking crisis in March this year).

Ripple has previously stated that the purpose of doing this is to “support a healthy XRP market” while ensuring an adequate supply of XRP tokens for its “On-Demand Liquidity” (ODL) business

European Banking Authority (EBA) President José Manuel Campa said upcoming EU rules governing stablecoins will focus on ensuring issuers have diversified reserves, manage conflicts of interest and do not transfer risk to other players.

The group’s market rules for crypto assets, known as MiCA, will come into force in 2024, but cryptocurrency market participants should start adjusting their operations now, said José Manuel Campa, who will play a key role in its implementation by drafting subsidiary legislation .

MiCA requires issuers of stablecoins to have sufficient reserves to deal with turbulence “The EBA will pay special attention to the diversification of the reserve deposit component.”

Societe Generale announced this week the launch of its euro-pegged stablecoin EUR CoinVertible (EURCV), an ethereum-based stablecoin available only to authorized institutional clients.

However, according to smart contract engineer alephv.eth on social media, the ERC-20 transfer of the stable currency needs to be authorized by the internal registrar before the transaction is executed.

alephv.eth added that Societe Generale coded the EURCV stablecoin and had to whitelist all users before processing “transferFrom,” and even approved user ERC20 transfer transactions.

According to 0xScope monitoring, PEPE, one of the hottest meme coins in the market, built a pool on Uniuswap within 5 minutes, and more than 20 addresses spent no more than 0.02 ETH to purchase a large number of PEPE tokens.

After collecting these addresses and counting their holdings, 0xScope found that they hold a total of 50 trillion PEPE tokens, accounting for about 11.9% of the total supply, with a current total value of over 17 million US dollars.

Since the buying time was quite early, and most of the funds in these addresses came from non-custodial trading platforms such as Fixedfloat that can hide capital flows, 0xScope stated that it does not rule out that these addresses belong to insiders.

Circle, the issuer of the US dollar stablecoin USDC, announced the launch of Circle Hacker House in partnership with Tribe, the first government-backed blockchain ecosystem builder in Singapore.

Aiming at promoting the growth and upskilling of Web3 developers and building a talent pool in Singapore and the Asia-Pacific region, participants will develop innovative solutions for the real world while building Circle Application Programming Interfaces (APIs) across various blockchains and creating high-quality projects and use cases.

Lido DAO launched a proposal to create a new multi-signature wallet to receive ARB airdrop tokens

Lido, a liquidity staking protocol, tweeted that the Arbitrum Foundation previously announced that the Lido protocol is eligible to claim 772,621 ARB tokens.

Initiate proposals for the Lido DAO reWARDS committee for this airdrop, covering operational and strategic topics related to claiming and effectively using potential ARB tokens.

These include:
1. Designate a representative or a group of representatives for Lido DAO to inform Lido DAO that it will accept the airdrop and start the claim process.
2. Appoint the Lido DAO reWARDS Committee as the designated representative of the DAO, responsible for communicating with the Arbitrum Foundation and handling airdrop token claims.
3. Confirm that the reWARDS committee has the right to claim ARB tokens.
4. The reWARDS committee will create a new 4/7 multi-signature wallet on the Arbitrum One network for receiving ARB tokens.
5. Staking will be increased in the next 4-6 months by incentivizing the adoption of wstETH in the Arbitrum ecosystem.
6. A monthly reporting structure is proposed to ensure the Lido DAO community is informed of the progress of the plan.

The Yearn Finance community, a DeFi revenue aggregator, recently launched a proposal to launch yETH tokens. According to the proposal, Yearn ETH (yETH) is generated when users deposit a basket of various ETH liquid collateral tokens.

yETH can reclaim the deposited value, and obtain relevant Ethereum PoS staking rewards through the diversification of LSD when staking, and obtain a more mixed risk/return.

The proposal is currently under discussion. According to the voting rules, it will be discussed through non-binding forum voting for at least 3 days to gauge sentiment before it can be assigned a YIP number and transferred to a snapshot for binding voting by veYFI holders. However, in In the current poll, 20 people have voted, 11 of whom have voted against. Polls will continue for three more days.

According to PeckShield monitoring, QNT fell by 11% within 3 hours. The address marked by Bitrue Drainer exchanged 173,000 QNT, 22.55 billion SHIB, 46.4 million GALA, and 310,000 MATIC for approximately 8,540 ETH.

Bitrue Drainer received about $22 million worth of cryptocurrency from 0x34d8…31a three days ago (3.20 ETH, 173,000 QNT, 172.55 billion SHIB, 46.4 million GALA, 756 million HOT and 310,000 MATIC) .

Zane Tackett, the former head of institutional sales at bankrupt cryptocurrency exchange FTX, said via Telegram that FTX should restart and offer tokens that represent creditors’ claims.

Tackett believes that FTX should be resurrected with all the products it offered when it collapsed last November, while adding a marketplace for trading creditors’ claims on the bankrupt company.

Tackett pointed to cryptocurrency exchange Bitfinex, which offered a token called BFX after it was hacked in 2016, as an example of how it would work.

He said the new exchange could, like Bitfinex, provide a market for FTX claims of one token per $1 lost.

Crypto payment solutions provider Alchemy Pay has announced a partnership with stablecoin issuer CNHC.

Through this partnership, CNHC will become part of the Alchemy Pay ecosystem and leverage its on and off ramp solution to enable users to buy and sell CNHC using various global fiat currencies.

CNHC will also be listed on Alchemy Pay’s ramp, providing support for adding payment scenarios and facilitating the seamless transfer of CNHC between the traditional financial and crypto worlds.

As reported last month, stablecoin issuer CNHC completed a $10 million A+ round of financing led by KuCoin Ventures.

On Monday, Twitter changed the webpage LOGO icon from a blue bird to a DOGE dog head, and the price of Dogecoin (DOGE) soared almost immediately, and several other Shiba Inu-themed Meme coins also rose sharply, with an average increase of 14% for the entire sector .

Large cap tokens like SHIB are up 10%, while small cap tokens like FLOKI, KISHU and BABYDOGE are up 25%. In addition, zkDoge and zkShib on the zkSync blockchain launched in March have increased by as much as 100%.

However, the rise is unlikely to last in the long term, with some traders warning that the move is not indicative of a broader trend.

“We don’t think this heralds a long-term bull market,” said Guilhem Chaumont, chief executive of cryptocurrency trading firm Flowdesk.

Quite the contrary, the upward trend of the crypto market is regular, first Bitcoin goes through a bull market, then the major altcoins, and finally the coins with smaller market caps.

According to the data disclosed by Spot on Chain, the wallet address “beginning with 0x2eFB50” has transferred 213 billion SHIB to the two major trading platforms of Coinbase and OKX.

Not only that, but the address previously transferred 230 billion SHIBs to the address wallet starting with “0x66E092”, of which 17.9 billion SHIBs flowed to Binance and 15 billion SHIBs flowed to Coinbase.

According to statistics, the total amount of funds that the whale transferred to the centralized exchange through this operation reached 245.9 billion SHIB.

Over the past 24 hours, more than $26 million in Dogecoin (DOGE) futures liquidations were higher than normal, according to data from Coinglass.

Bulls and bears are affected almost equally. The long position is closed by $10 million and the short position is closed by $13 million.

Traders on OKX were the most affected, losing $12 million on their Dogecoin futures positions. Additionally, the open interest in Dogecoin futures surged above $580 million.

According to the previous news, Twitter changed the LOGO icon from the blue bird to the DOGE dog portrait, and DOGE rose for a short time, breaking through 0.1 USDT, with an increase of more than 23% in 24H.

Arbitrum has responded to the governance controversy on its official Twitter and retweeted a lengthy clarification posted on the official governance forum.

Regarding some of the controversies involved in the governance proposal, Arbitrum explained: With the launch of the DAO, there was a “chicken and the egg” problem, and many decisions had to be made before the official launch. Regarding AIP-1, Arbitrum pointed out that the goal of the proposal is to involve the community in the initial decision-making, and eventually have token holders vote to approve the initial decision and framework through the DAO.

Regarding the on-chain transfer of 50 million ARB, Arbitrum made a clarification: the foundation did not sell 50 million ARB tokens. Of these, 40 million were allocated as a loan to a savvy participant in the financial market, and the remaining 10 million were converted into fiat currency and used for operating costs.

According to Token Unlocks data, the number of tokens planned to be unlocked in April reached 17, which will release more than $330 million worth of tokens into the circulation market.

Among them, BIT, APECoin ( APE ) and Aptos ( APT ) are expected to be the three largest unlocking projects this month. BIT will unlock 187,500,000.32 tokens on April 15, equivalent to about 96 million US dollars at current prices, followed by APE Afterwards, 15 million tokens will be unlocked on April 17, accounting for 1.56% of the project’s total supply and worth over $66 million. APT plans to unlock 4.5 million tokens, or roughly $52 million, on April 12.

Other unlocked project tokens include 1inch (1INCH), Galxe (GAL), Tornado Cash (TORN), Moonbeam (GLMR), DyDx (DYDX), Euler (EUL), Sweat Economy (SWEAT) and NYM (NYM), Axie Infinity (AXIE), Immutable X (IMX), Acala (ACA), Ronin (RON), X2Y2 (X2Y2), and Yield Guild Games (YGG).

Trading volumes in the TrueUSD (TUSD) stablecoin surged over the course of the week, with 24-hour trading volumes surpassing $1 billion for most of Thursday and Friday, up from daily TUSD earlier this month, according to CoinGecko data. Transaction volumes were mostly below $100 million.

According to data from Binance, the BTC/TUSD trading pair on Binance alone has seen $713 million in trading volume over the past 24 hours.

As previously reported, earlier this week, Binance phased out the zero-fee offer for buying and selling Bitcoin for multiple tokens, leaving only a zero-fee promotion for the TUSD stablecoin, which boosted TUSD’s trading activity.

Musk asked a U.S. judge on March 31 to dismiss a $258 billion lawsuit. Musk’s lawyers said investors never explained how Musk intended to deceive others and how he concealed risks.

It is not illegal to tweet supportive remarks or funny pictures about a legitimate cryptocurrency, the lawyers said.

Last June, a Dogecoin investor filed a lawsuit against Musk, his Tesla and Space Exploration Technologies for $258 billion. Dogecoin was originally created as a joke, but its price has seen wild swings at Musk’s prodding.