MakerDAO, one of the most prominent and long-standing players in the decentralized finance space, is undergoing a significant transformation. The $7 billion crypto lender announced on Tuesday that it has rebranded to “Sky” as part of a broader overhaul that includes the introduction of new stablecoin and governance tokens. This strategic shift, known as the…
Xapo Bank, in collaboration with Hilbert Capital, the asset management arm of Swedish investment firm Hilbert Group, is set to launch a Bitcoin-denominated hedge fund with an initial capital of $200 million. This strategic move, announced on Tuesday, reflects the growing institutional interest in cryptocurrency, particularly in structured investment products that go beyond mere exposure…
Settlement Details Crypto lending platform Abra, officially known as Plutus Lending LLC, has settled with the U.S. Securities and Exchange Commission (SEC) following charges related to the sale of unregistered securities and operating as an unregistered investment company. The settlement includes civil penalties, the amount of which is yet to be determined by the court.…
The world of non-fungible tokens continues to thrive, with Polygon emerging as a significant player in the market. On August 25, the Polygon-based NFT collection MKgirl led the market in daily sales, recording an impressive $1.1 million. This surge highlights the growing importance of Polygon in the NFT ecosystem, as it increasingly competes with established…
Rumpel Labs, a pioneering startup backed by venture capital heavyweights like Dragonfly and Variant, is set to redefine the crypto loyalty points market. The company, emerging from stealth mode, is building a robust infrastructure that allows for the tokenization and trading of loyalty points distributed by decentralized finance and Web3 projects. This new platform addresses…
Hong Kong’s spot Bitcoin exchange-traded funds (ETFs) have crossed a significant milestone, surpassing HKD$2 billion (approximately $256 million) in assets under management (AUM). This achievement highlights the growing interest in cryptocurrency investments within the region. Initial Performance and Comparisons Despite reaching this milestone, Hong Kong’s Bitcoin ETFs have had a slower start compared to their…
Bitcoin briefly touched $65,000 for the first time in about three weeks, driven by renewed interest in US exchange-traded funds (ETFs) and expectations of a Federal Reserve rate cut. The cryptocurrency surged as much as 1.2% to $65,030 on Monday before retreating slightly to $63,780 as of 9:19 a.m. in New York. Last week, Bitcoin…
Cryptocurrency exchange Binance has made a significant move to enhance financial inclusion in Africa by launching its One Click Buy and Sell (OCBS) service. This new feature, known as Binance Mobile Money, enables users in Ghana, Tanzania, Uganda, and Zambia to easily buy and sell cryptocurrencies through their mobile money accounts. The initiative aligns with…
In a surprising turn of events, the MAGA token, a fringe cryptocurrency not officially linked to Donald Trump or his campaign, has surged in value by more than 50%. This sudden spike followed Trump’s promotion of a mysterious new crypto project called DeFiant Ones on his social media platform, Truth Social. As the MAGA token’s…
Grayscale Introduces Avalanche Trust Grayscale Investments, a leading cryptocurrency asset manager, has introduced the Grayscale Avalanche Trust, providing investors with exposure to the AVAX token. This token is crucial for transaction fees and securing the Avalanche blockchain, known for its high-speed and scalable capabilities as a competitor to Ethereum. This launch is part of Grayscale’s…