The layer-2 blockchain has launched its much-anticipated airdrop of the ZK token, with 45% of the tokens claimed within the first two hours, according to the ZKsync Association. This non-profit organization, created by Matter Labs, oversees the airdrop process. “It’s a Monday, don’t you have work?” the ZK Nation X account tweeted, noting the rapid…
Bitcoin investment products saw significant outflows totaling $621 million last week amid mixed economic signals from the U.S., according to asset manager CoinShares. Across the broader digital asset ecosystem, there were net outflows of $600 million, primarily driven by Bitcoin’s losses. This marked the largest outflow since March 22. Grayscale’s GBTC was particularly hard-hit, experiencing…
The Australian Securities Exchange, which accounts for 90% of Australia’s equity market, has approved its first spot Bitcoin (BTC) exchange-traded fund. The issuer, VanEck, announced in a blog post that it will launch the ETF on June 20, touting it as the “lowest cost bitcoin ETF in Australia.” VanEck resubmitted the application for this product…
Tether, the company behind the $110 billion stablecoin, announced on Monday the launch of Alloy, a new token minting platform on the Ethereum network. Alloy allows users to create tokens collateralized by Tether’s tokenized gold (XAUT). “Alloy by Tether is an open platform that allows the creation of collateralized synthetic digital assets and will soon…
Cryptocurrency markets remained under pressure during U.S. trading hours on Thursday, extending a decline that began the previous day when the Federal Reserve indicated it expected to cut rates only once this year. Ether (ETH) saw a mid-morning bounce after U.S. Securities and Exchange Commission Chairman Gary Gensler, during a Senate hearing, stated he anticipated…
Paradigm, known for its early investments in projects like crypto exchange Uniswap and Ethereum scaling solution Optimism, has raised $850 million for an early-stage crypto venture fund. Founded in 2018 by Coinbase co-founder Fred Ehrsam and former Sequoia Capital partner Matt Huang, Paradigm is one of the largest venture capital investors in the cryptocurrency industry.…
Riot Platforms (NASDAQ:RIOT) criticized Bitfarms (NASDAQ:BITF) for adopting a poison pill strategy to prevent a takeover, calling the move “shareholder unfriendly” and highlighting Bitfarms’ weak corporate governance. Riot stated on Wednesday that it had privately urged Bitfarms to remove its chairman and interim CEO, Nicolas Bonta, and to appoint at least two independent directors to…
Bitcoin and other cryptocurrencies rallied on Wednesday following U.S. inflation data that came in slightly below expectations, raising hopes that the Federal Reserve might start cutting interest rates later this year. The world’s largest cryptocurrency surged over 4% to above $69,500 shortly after the inflation report’s release. The Labor Department reported that the annual inflation…
The U.S. Consumer Price Index remained unchanged in May, outperforming economists’ expectations of a 0.1% rise and down from 0.3% in April. On a year-over-year basis, CPI increased by 3.3%, slightly lower than both the forecast and April’s reading of 3.4%. The core CPI, excluding food and energy costs, rose 0.2% in May, better than…
Solana crypto wallet startup TipLink is simplifying blockchain access for newcomers by eliminating the need for traditional wallet browser extensions. Their new service, TipLink Wallet Adaptor, enables users to create in-browser wallets linked to their Google accounts, bypassing the need to set up wallets like Phantom or Solflare before receiving tokens. TipLink CEO Ian Krotinsky…