PayPal’s international payment service, Xoom, will allow U.S.-based users to send money overseas using PayPal’s stablecoin, PYUSD. The new option allows conversions from PYUSD to U.S. dollars, facilitating remittances to around 160 countries without any fees from Xoom. Users can transfer funds directly to bank accounts, mobile wallets, or pick-up locations abroad, but currency conversions from USD will include...
CoinGecko analysts found that, on average, Bitcoin’s value skyrocketed following its previous halving cycles. According to the report, after each mining reward was halved, the Bitcoin (BTC) rate increased by an average of 3,230%. The first halving, dated Nov. 28, 2012, reduced the reward from 50 BTC to 25 BTC. Within 12 months of the halving, the asset’s...
The Bank for International Settlements unveiled Project Agorá, an initiative to explore the potential of tokenization to enhance the efficiency of global financial systems. The Bank for International Settlements (BIS), representing 63 central banks worldwide, spearheads numerous projects focused on issuing national digital currencies and leveraging technology to improve market operations. Tokenization, converting real-world assets into digital...
The URF meme coin team committed a rug pull and disappeared with 2,400 SOL collected during the coin’s presale. According to on-chain researcher ZachXBT, the meme token team on the Solana blockchain withdrew Solana (SOL) worth about $450,000. The developers completed the fraud less than 24 hours after URF launched. The team also used the funds raised...
The FTX Customer Ad-Hoc Committee has over 1,400 signups and $700,000 in claims. The committee is also preparing to distribute more information to guide members through the bankruptcy plan vote. The additional information will include strategic advice and detailed instructions to assist claimants in making informed decisions and taking concerted action to protect their rights. The FTX...
Spot Bitcoin ETFs have drawn in over $12 billion in cumulative net inflows within three months of trading, while Grayscale GBTC liquidations continue. SoSoValue data tracking spot Bitcoin (BTC) ETF activity showed over $39.4 million daily net inflows. Wall Street stalwart BlackRock recorded the largest influx among nine new funds, as traders parked $150 million into the firm’s...
U.S. SEC Enforcement Director Gurbir Grewal condemned the crypto industry for its “significant lack of compliance.” During the SEC Speaks event, Grewal responded to criticism leveled at the agency over excessive SEC crypto regulation. “We have confronted significant non-compliance and many, many creative attempts by market participants to avoid our jurisdiction, with some claiming that we are making it up as...
According to ARK Invest CEO Cathie Wood, Bitcoin’s remarkable 130% rally in the past year can be derived from the global devaluation of national currencies. “There are currency devaluations taking place that people are not talking about,” Wood remarked in an interview with CNBC, highlighting significant drops in the value of currencies like the Nigerian naira...
In collaboration with the Composable Foundation, Picasso Network has announced the integration of the Inter-Blockchain Communication protocol with Ethereum. The integration allows for transferring assets and data between Ethereum (ETH) and the Cosmos ecosystem, facilitating cross-chain interoperability. “By connecting Ethereum with Cosmos through IBC and designating Osmosis as the primary liquidity hub, we are setting the stage for a new chapter...
A meme coin inspired by U.S. President Joe Biden has surged over 70% today, reaching a market cap of $324 million. Jeo Boden (BODEN) is a satirical Solana meme coin that mocks Biden’s public persona and policy views. It features a website showing crude parodies of the U.S. president and heavily utilizes the Comic Sans font...
