Crypto News Updates

Rhodium filed for Chapter 11 with debts of up to $100M and assets of up to $500M. The debtor-in-possession financing plan is offered by Galaxy Digital. Galaxy Digital offers Rhodium a $30M loan or 500 BTC with a 9.5%-14.5% interest. Rhodium Enterprises, a Texas-based Bitcoin mining firm, has recently garnered significant attention following its Chapter 11 bankruptcy filing on August 24, 2024. With liabilities ranging between $50 million and $100 million, and assets valued between $100 million and $500 million, Rhodium’s financial struggles have highlighted the growing challenges within the cryptocurrency mining sector. Riot Platforms claims Rhodium owes it $26M At the heart of Rhodium’s financial distress is its strained relationship with its landlord and power supplier, Whinstone. This tension contributed to Rhodium defaulting on a $54 million loan in July, shortly before the company raised $78 million in additional lending. The strain has culminated in the filing of a lawsu...

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com integrates PayPal for US users to simplify crypto purchases. The partnership allows seamless transfers and topping up Crypto.com Visa Cards. The PayPal feature on Crypto.com is currently only available in the US but is expected to expand to more markets in future. Crypto.com has announced a strategic partnership with PayPal, further expanding its offerings by integrating PayPal as a payment method for US users to purchase cryptocurrencies. This collaboration marks a significant step towards bridging traditional financial systems with the evolving world of digital currencies, aiming to make crypto more accessible to mainstream users. US citizens can use PayPal on Crypto.com The integration allows users to link their PayPal accounts with Crypto.com wallets, enabling seamless transfers and transactions. US users can now fund their crypto purchases directly through PayPal, making it easier than ever to buy a wide range of cryptocurrencies. In addition to simplifying crypto pu...

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Robinhood Wallet now supports Solana tokens, with the self-custody wallet available on iOS and Android. Solana price rose slightly after the news. The Robinhood Wallet, a self-custody wallet app available on iOS and Android, has added support for Solana (SOL) . Robinhood announced the big news on August 27, providing a positive flip in Solana sentiment as prices hovered near $155. SOL price rose slightly on the news before retreating as the broader market struggled. With support for SOL and Solana-based tokens, the wallet has added a new gateway to web3 for cryptocurrency’s fifth-largest asset by market cap. It’s also a huge boost for an ecosystem that has over $9.8 billion in total value locked and more than 1.99 million active addresses (24-hour count). Robinhood Crypto general manager Johann Kerbrat commented on the wallet’s support for SOL and SLP tokens: “Super excited to announce that the Solana network is now live on Robinhood Wallet! Starting today, you can self-cu...

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Tortola, British Virgin Islands, August 26th, 2024, Chainwire Warden , the sovereign AI execution network, announced the alpha release of its new artificial intelligence product – the Artificial Intelligence Blockchain Interface (AIBI). AIBI brings AI on-chain with an intuitive interface for developers to integrate AI into their applications. Inspired by proof-of-computation and computational pipelines, AIBI allows inference endpoints to create cryptographic proofs that verify that an AI model produced a specific prediction. These proofs are then verified on Wardens’ blockchain through a cutting-edge consensus mechanism, ensuring AI outputs are not just delivered, but can be trusted. “AIBI is here to bring truth to AI”, said David Pinger, founder and CEO of Warden Labs. “Broken AI infrastructure had disastrous consequences – factually incorrect, unsafe, opaque and at times outright dangerous recommendations. Trust in AI collapsed at a time when it’s becoming deeper and deeper embed...

Key takeaways TON is down 18% over the weekend following Durov’s arrest. $0DOG officially begins trading on Gate.io and MEXC exchanges. TON dips Below $6 following Telegram CEO’s arrest TON, The Open Network’s native coin, is trading below $6 after losing 18% of its value over the weekend. The poor performance comes after Pavel Durov, Telegram’s founder and CEO, was arrested in France on Saturday.  At press time, TON is trading at $5.64 and has dropped to the tenth place in the market. If the bearish trend continues, TON could drop below the $5.5 mark in the coming hours. However, Durov’s release could see the coin rally higher in the short term.  What is Bitcoin Dogs? The cryptocurrency market continues to churn out excellent projects that provide unique value propositions to investors and users. Bitcoin Dogs has joined this rank after raising over $13 million during its presale.  Bitcoin Dogs is a new project leveraging the growth of the Bitcoin blockchain to ...

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WOMIO presale for $WOMIO tokens starts August 21 at 19:00 CET. WOMIO platform simplifies multichain memecoin creation with staking rewards for users. The platform aims to merge memecoin fun with real-world utility and new industry standards. Multichain memecoin launching platform WOMIO has announced its upcoming presale and outlined its innovative approach to enhancing meme coin utility. Set to launch on August 21 at 19:00 CET, the presale will offer the community an exclusive opportunity to acquire $WOMIO tokens, which are designed to serve as both a proof-of-concept memecoin and a catalyst for the growth of the WOMIO ecosystem. Simplifying the process of launching meme coins WOMIO is the brainchild of a seasoned team with a proven track record in crypto investment and project development. The platform is designed to be a one-stop solution for creating and promoting memecoins while integrating features such as staking, analytics, and promotional packages. This holistic approa...

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Victoria, Seychelles, August 20th, 2024, Chainwire Bitget , a leading cryptocurrency exchange and Web3 company, is proud to announce the launch of its inaugural Blockchain4Her Awards , celebrating women driving innovation and gender inclusivity in the blockchain industry. Nominations are now open until Aug 30, with winners announced at the SheFi Summit in Singapore on September 17, 2024. The Blockchain4Her Awards aim to honor the achievements of women in blockchain while fostering dialogue about gender equality in the industry. The initiative, part of Bitget’s Blockchain4Her program, was launched this January with a $10 million commitment to promote diversity and inclusion in the blockchain space. A recent Bitget study found that female-led blockchain startups received only 6% of total funding, underscoring the need for such initiatives. The awards are a platform for participants to “Shine Bright Like a Woman” by recognizing their contributions to Web3. Winners will receive scholar...

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Floki has partnered with English Premier League club Nottingham Forest Football Club, becoming the football club’s official cryptocurrency partner for 2024/2025 season. The partnership comes just two days after Floki announced its marketing campaign for the play-to-earn metaverse game Valhalla. Floki becomes Official Cryptocurrency Partner of Nottingham Forest in the Premier League 2024/2025 season! ⚽️ Two days after announcing Valhalla's marketing campaign across the entire Premier League for the 24/25 season, we're thrilled to announce that Floki will be sharing the… pic.twitter.com/vihcrfId2t — FLOKI (@RealFlokiInu) August 15, 2024 Boost for Floki’s marketing As revealed, the campaign will run for the upcoming EPL season. Now Floki, whose native token will power the Valhalla game, will also tap into the Premier League’s global appeal to market the cryptocurrency. “This dual approach – Valhalla’s league-wide campaign and Floki’s partnership with Nottingham Forest...

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Renzo Protocol revealed its ezSOL liquid restaking token will soon launch on Jito as Solana’s first LRT. The Renzo team is eyeing growth for the DeFi ecosystem on Solana. Renzo Protocol has announced the launch of ezSOL, the first liquid restaking token (LRT) on Solana. The collaboration between Renzo and Jito Network will allow JitoSOL holders to mint ezSOL and use the LRT to tap into more decentralised finance (DeFi) opportunities on Solana. ezSOL will combine Renzo’s liquid restaking expertise with Jito’s MEV-enhanced features to bring the best of decentralised finance and other earning mechanisms to users. 🚀 Introducing $ezSOL : The first LRT on @jito_sol Renzo Protocol is launching $ezSOL , Solana’s first LRT on the Jito Network. This is set to transform restaking and DeFi on Solana by combining the power of Renzo’s liquid restaking with Jito’s MEV-enhanced validators. Dive in… pic.twitter.com/VUiKHndqZS — Renzo (@RenzoProtocol) August 14, 2024  “The launch of...

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SUI’s bullish momentum has has boosted it to the day’s top gainer among cryptos as Bitcoin  struggles to break the crucial zone of $60,000. Meanwhile, Poodlana has meme coin traders at the edge of their chairs with less than 100 hours to go before it hits the public shelves. SUI is the day’s top gainer Among the trending cryptocurrencies in the new week is SUI. As at the time of writing, it was the top gainer among cryptocurrencies with its price up by 20.52% in the past 24 hours as indicated by CoinMarketCap. Notably, it has maintained this impressive momentum for days; having risen by 118.82% in the past 7 days. Bull traders’ optimism has continued to boost the altcoin following Grayscale Investments’ announcement on 7 th  August. While launching two new investment trusts for Sui (SUI) and Bittensor (TAO) tokens, the firm’s head of product & research, Rayhaneh Sharif-Askary stated, “We are excited to add Bittensor and Sui to our product suite, and believe Bittensor is...

Venezuelan government blocks Binance, X, Reddit, and Signal amid election unrest. CANTV, Venezuela’s state ISP, enforces the blockade as part of a crypto crackdown. President Maduro accuses Elon Musk of inciting protests and violating laws. In a significant move amidst ongoing political unrest, the Venezuelan government has imposed a blockade on several major online platforms, including cryptocurrency exchange Binance and social media network X (formerly Twitter). The disruption, reported on August 12, 2024, is attributed to the state-owned internet service provider CANTV, which has been enforcing the restrictions as part of a broader crackdown on digital services. Binance’s DNS block Local anti-censorship organization VE sin Filtro disclosed on August 9 that Binance’s website and mobile application had been rendered inaccessible in Venezuela due to a DNS block. This move is believed to be related to the government’s intensified scrutiny of cryptocurrency trading within the co...

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Uniswap Layer 2 users have surged by 350%, but trading volume has dropped 39% since May. Poodlana’s presale has raised $6.3M, with the listing set for August 16 on Raydium. Poodlana’s token POODL is currently valued at $0.0499 with the price rising every 72 hours before listing. In a rapidly evolving crypto landscape, two key developments have captured the attention of the community. Uniswap’s Layer 2 (L2) user count has surged by 350% in recent months, while Poodlana (POODL) , a viral Solana-based meme coin, is approaching its highly anticipated listing on Raydium. As market dynamics shift, both events highlight the growing interest in decentralized finance (DeFi) and innovative token projects. Uniswap’s Layer 2 user surge Uniswap , the leading decentralized exchange (DEX) by trading volume, has recently witnessed a significant spike in its Layer 2 (L2) user base. From May to July, the number of unique addresses interacting with Uniswap on L2s increased from 1.82 million to a...

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Cryptocurrency prices ended the week on a high note as Bitcoin pared back most of their Monday losses. In a remarkable feat, the coin rose from about $49,000 to over $60,000 while Solana and Sui jumped to $153 and $0.9422.  Poodlana is the new kid on the block While the focus among investors was on top cryptocurrencies like Bitcoin, Solana, and Ether, many savvy traders were eying Poodlana . Poodlana is an upcoming meme coin that describes itself as the Hermes of crypto. In the past decade, Hermes has become the most advanced luxury brand, helped by the management’s approach to engineer shortages. It is not uncommon for the company’s Birkin bag to sell for over $100,000.  Poodlana also aiming to become a better version of meme coins. It is named after Poodle, a highly popular dog in Asia. In some instances, Poodle dogs are more expensive than Shiba Inu and Floki dogs. These characteristics explain why the Poodlana meme coin is selling like hot cake. Data on its website...

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Coinbase and MicroStrategy stocks rose 6% and 7% respectively as Bitcoin surged to above $59,000. Analysts say crypto markets may be choppy amid potential bearish catalysts. Coinbase and MicroStrategy stocks have climbed more than 6% each on Aug. 8 (as of 2 pm ET), gains that come as the price of Bitcoin broke above $59,000. The Coinbase (COIN) stock traded around $192.30 while MicroStrategy ’s MSTR hovered near $134. 23. Read more: Michael Saylor’s bet on Bitcoin paying off, his BTC holdings now valued at $1B Bitcoin’s surge sees it extend recent momentum since reclaiming support above $50,000. According to data on CoinGecko, the flagship cryptocurrency is up 7% in the past 24 hours. Losses over the past week have shrunk to about 5%. Amid this, crypto analyst Ali Martinez says long-term holders have aggressively bought the recent dip. While we got liquidated trading #Bitcoin futures during the recent dip to $49,000, long-term $BTC holders were buying. They added over 184,...

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Michael Saylor personally holds $1 billion in Bitcoin, owning 17,732 BTC. MicroStrategy holds 226,500 BTC, valued at over $12 billion, with a $37,000 average cost. Saylor views Bitcoin as a superior, secure asset and advocates continuous investment. In a recent interview on Bloomberg Television, Michael Saylor, the Chairman of MicroStrategy, revealed he holds Bitcoin worth approximately $1 billion. This makes him one of the most prominent BTC holders in the world, joining the ranks of figures such as Binance Founder Changpeng Zhao, the Winklevoss Twins, and Satoshi Nakamoto. Michael Saylor has not sold any of his BTC holdings Saylor’s endorsement of Bitcoin as a capital investment asset is both passionate and unwavering. In his discussion with Bloomberg’s Sonali Basak on August 7, Saylor confirmed that he possesses a significant personal stack of Bitcoin, which he first disclosed four years ago. At that time, he announced owning 17,732 BTC, a figure that has only grown since...

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Core Scientific shares climbed more than 17% on Tuesday as the bitcoin mining company announced new developments around its deal with artificial intelligence provider CoreWeave. According to a press release on Aug. 6, CoreWeave has agreed to add to its hosting deal with the Bitcoin miner, with additional infrastructure set to see Core Scientific deliver another 112 megawatts for Coreeave’s Nvidia graphic processing units. Core Scientific and CoreWeave deal The new adjustments to the deal will roll in before the end of 2024, with operations expected to go live in early 2026. Core Scientific’s multi-year deal with CoreWeave will add roughly $2 billion in new hosting revenue, with the 12-year contract projected bring in over $6.7 billion in cumulative revenue after the initial contract’s expected total of $4.7 billion Today, Core Scientific announced exercise of additional contract option by @CoreWeave for delivery of ~112 MW of additional infrastructure to host high-performance co...

Polymarket’s popularity raises fears of corruption and undue election influence. Lawmakers urge CFTC to ban election betting, citing democracy trust concerns. Senators stress elections shouldn’t be influenced by wealthy individuals’ bets. Polymarket, a predictions market operating on the Polygon blockchain, has come under scrutiny as US lawmakers intensify efforts to ban gambling on American elections. Spearheaded by Oregon Senator Jeff Merkley, a group of legislators is urging the Commodity Futures Trading Commission (CFTC) to finalize and implement a proposed rule that would prohibit betting on American election outcomes. The lawmakers argue that such markets could erode public trust in democracy, lead to corruption, and influence election results. Polymarket success puts it at cross roads Polymarket allows users to buy shares using USD Coin (USDC) and trade on various event outcomes, including elections, sports, and cryptocurrency prices. Its transparency and diverse betti...

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DeSci Project StarChain Achieves Major Milestone By Unifying 500 Terabytes of Astronomical Data Zug, Switzerland, August 5th, 2024, Chainwire “We are thrilled to announce that we have achieved our first major milestone by unifying 500 TB of astronomical data on our platform. This will allow astronomers to more easily analyze massive datasets and uncover meaningful insights.” said Dr. Meijer, Chief Scientific Officer of  StarChain . “Our platform is revolutionizing scientific research by taking data that was previously scattered and bringing it together into one searchable, user-friendly location. Eliminating the need for tedious manual gathering and merging of data.” With the unified DataStore, astronomers can now perform complex queries across multiple datasets, visualize data, and apply analytics at a massive scope and scale. This will lead to powerful new insights about the formation of stars and galaxies, the expansion of the universe, the search for Earth-like exoplanets,...

Bitcoin briefly tests $49k before rebounding to $51k amid a $270 billion crypto market selloff. Concerns over the US recession and Japan’s rate hike trigger market turmoil. FBI warns of rising crypto scams during increased market volatility. The cryptocurrency market has experienced a significant downturn today, shedding approximately $270 billion in value over 24 hours according to CoinGecko data . Leading this decline, Bitcoin plummeted by almost 20%, reaching $49,121, its lowest level since February at $53,091. Ether also suffered a substantial drop of 21%, falling to $2,300, erasing its gains for the year. Other cryptocurrencies like Binance’s BNB and Solana have also suffered significant losses. Bank of Japa hikes its benchmark interest rate This dramatic downturn in the crypto market coincided with a broader selloff in equities, particularly in Asia-Pacific markets, exacerbated by Japan’s Nikkei 225 falling by as much as 7%. The Bank of Japan’s decision to hike its ben...