Crypto News Updates

Crypto liquidations rose to over $200 million in 24 hours as Bitcoin (ETH) and Ethereum (ETH) dipped. Analysts are however bullish on BTC price as September looks poised to end on a green note. The crypto market saw over $200 million in crypto liquidations as Bitcoin slipped to near $64k amid fresh bear moves. According to data from Coinglass , the cryptocurrency market saw total liquidations in the past 24 hours surge by 128% to more than $200 million. This came as Bitcoin (BTC) fell 4% to near $63,100 on September 30.   24-hour liquidations Having posted a significantly better performance in September contrary to expectation with a spike to $66k, BTC retreated sharply to pull most altcoins lower. With Ethereum (ETH) also dumping to under $2.6k amid latest selling from the Ethereum Foundation, total longs rekt soared to $164 million. Shorts accounted for about $37 million in 24-hour liquidations at the time of writing. Crypto liquidation represents the process by wh...

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Sui (SUI) has surged 116.2% in three months. While Bitcoin Dogs (0DOG) has seen a considerable decline since its public listing, key metrics point to a possible trend reveal. Both tokens show growth potential, with SUI’s TVL exceeding $1 billion and rising interest. Cryptocurrency investors are continuously on the lookout for promising assets that offer significant growth potential and two tokens, Sui (SUI) and Bitcoin Dogs (0DOG) , have caught the attention of investors. Both Sui and Bitcoin Dogs have showcased impressive performance and unique features, making them appealing choices for traders and long-term investors. Sui price soars by 63% in two weeks amid bullish market sentiment Sui (SUI) has recently made headlines, witnessing a remarkable price increase of over 116.2% in the past three months, outpacing established cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). Currently priced at around $1.77, SUI has demonstrated resilience despite a recent price pullback, ...

Chainlink (LINK) was the golden child of the crypto era, achieving record highs of $52 in 2021. But as matters currently stand today, the LINK price today is at a low of $11.45 – which is far from way back to that time. Like many investors, they still believe that Chainlink could get back to its former peak again, but surpassing its ATH of $52 by the year 2025 might not be as easy as it appears. In the cryptosphere, there is always an upstart waiting to grab the glory. Rexas Finance (RXS) makes its grand entrance. It is a new-age token in its presale phase which not only seeks to beat Chainlink by 2025 but cause a shakeup in the top 15 cryptocurrencies in 2025.In this article, we will explain how Chainlink might not be able to get back to its ATH and in what way Rexas Finance is aiming to redefine the market. The Link Between the Future of Chainlink and the Resistance Zone at $21 Chainlink has earned its popularity thanks to its long-established credentials as a decentralized oracle ...

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Jupiter community voting on the fate of 215M unclaimed JUP tokens is now live. Options include funding staking rewards, burning tokens, or multisig return. Decision part of J4J initiative for transparency and alignment among JUP holders. Jupiter, a decentralized exchange aggregator on Solana, has opened a community vote to decide the fate of 215 million unclaimed JUP tokens. These tokens, initially part of the platform’s “Jupuary” airdrop and staking rewards, were either unclaimed or from compromised wallets. J4J initiative proposals The vote, opened on September 27 , follows a proposal put forward by the Jupiter team, led by developer Weremeow, as part of the J4J initiative which is aimed at promoting certainty, alignment, and transparency among JUP holders. This proposal is the second in the J4J initiative. The first J4J proposal which was approved after a vote at the beginning of August, trimmed away any fat in the initial tokenomics and helped everyone in the J.U.P to un...

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SEC announced it settled with Mango Markets over sale of unregistered tokens in $70 million coin offering Mango DAO, Blockworks Foundation have agreed to pay $700,000 in civil penalties. The settlement will also see Mango Markets destroy the MNGO tokens and request exchanges to delist them. The US Securities and Exchange Commission announced on Sept. 27 that it charged Mango DAO and Blockworks Foundation for the offer and sale of unregistered crypto assets. SEC’s charges relate to the sale of MNGO, the governance token of Mango Markets. The platforms also acted as unregistered brokers for the DeFi platform. In its complaint filed at the US District Court for the Southern District of New York, SEC alleged the three entities had violated US securities laws and the broker registration provisions.   According to the SEC, Mango DAO and Blockworks Foundation, an entity registered in Panama, raised over $70 from sales of MNGO tokens. The sales, which started in August 2021, ...

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Hut 8 has laaunched its GPU-as-a-service business to tap into the AI growth potential. The Bitcoin miner said it partnered with Hewlett Packard Enterprise and AdvizeX to launch the 1,000 Nvidia H100 GPUs cluster. Hut 8 eyes revenue diversification and long term growth with this AI bet. Hut 8, an energy infrastructure provider and top Bitcoin miner, has announced that its GPU-as-a-service vertical is live. The GPU cluster, according to a Hut 8 announcement on Sept. 26, consists of several HPE supercomputers, all powered by 1,000 Nvidia H100 GPUs. The launch follows a partnership between Hewlett Packard Enterprise and information technology firm AdvizeX. Hut 8 eyeing AI push Per the press release, Hut 8 subsidiary Highrise AI will host the GPU-as-a-service business, with a 5-year deal in place for revenue sharing and infrastructure payments. The arrangement sees Hut 8 diversify its operations further, and now includes a compute layer that spans artificial intelligence, Bitcoin ...

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Curve Finance is considering dropping TUSD from crvUSD backing amid SEC charges. The SEC alleges TUSD was mostly backed by a risky offshore fund, not U.S. dollars. Proposed changes include reducing TUSD backing to zero and lowering PYUSD minting. In light of recent regulatory scrutiny, Curve Finance, a prominent decentralized exchange (DEX), is contemplating the removal of TrueUSD (TUSD) from its collateral options for the Curve Stablecoin (crvUSD). This consideration follows charges filed by the United States Securities and Exchange Commission (SEC) against TrueCoin, the issuer of TUSD, for violations of securities laws. Proposal to drop TrueUSD backing for crvUSD On September 25, a proposal was posted on Curve’s governance forum by Wormhole, a cross-chain messaging protocol. The proposal suggests reducing the upper limit on TUSD backing for crvUSD to zero, aiming to eliminate exposure to TUSD amidst rising regulatory concerns and issues regarding its solvency. Currently, th...

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Alberta, Calgary, September 25th, 2024, Chainwire The EOS Network announces the successful completion of its landmark upgrade to Spring 1.0. This upgrade has introduced the Savanna consensus algorithm, marking a new era in performance, reliability and speed on the network. By enhancing transaction finality to 1 second, EOS has achieved a more than 100-fold improvement over previous iterations. This rapid advancement in speed, security, and scalability sets the stage for future cryptographic breakthroughs. This upgrade reflects the shared vision and dedication of EOS’s global decentralized community, underscoring its commitment to pioneering blockchain innovation. Bart Wyatt, CTO of the EOS Network Foundation , articulated the significance of this strategic development: “With the Spring 1.0 upgrade and the introduction of the Savanna consensus algorithm, we’re achieving something rare in the blockchain world: changing our core consensus algorithm. Very few Layer 1 blockchains have ev...

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SEC filed charges against TrueCoin and TrustToken over fraud and offering of unregistered investment contracts. TrueCoin issued the TrueUSD (TUSD) stablecoin, while TrustToken operated the TrueFi lending protocol. The regulator alleges stablecoin TUSD had 99% of its reserves invested in an offshore fund as of September 2024. The Securities and Exchange Commission (SEC) has charged crypto companies TrueCoin and TrustToken for defrauding their investors in a stablecoin related investment program. In a press release on Tuesday, September 24, 2024, the SEC said it charged the two companies for fraud and the offering of unregistered investment contracts on the stablecoin TrueUSD (TUSD). Many exchanges had integrated TUSD. 99% of TUSD reserves invested in speculative fund Per the SEC, the TUSD issuer TrueCoin and lending protocol TrueFi operator TrustToken engaged in the offer of unregistered investment contracts on TUSD between Nov. 2020 and April 2023. The crypto companies offer...

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Metaplex Foundation announced the Metaplex Aura Network on September 23, 2024. Aura is a decentralised indexing and data availability platform designed to extend the Solana and Solana Virtual Machine networks. MPLX price rose 12% amid the news and overall crypto market surge. The Metaplex Foundation, the non-profit supporting the Metaplex Protocol, has announced a new decentralized indexing and data availability layer for Solana (SOL) . Metaplex Aura Network is the new platform that Metaplex Foundation introduced on Sept. 23, revealing that the new platform complements the Solana Virtual Machine and the Metaplex Program Library with a decentralised network for real-time data availability. 1/ Introducing Metaplex Aura, a decentralized indexing and data availability network for @solana and the SVM, powered by $MPLX . SVM + MPL + Aura = the full stack for decentralized applications 🦾 Learn more 👇 pic.twitter.com/AvoyggawKj — Metaplex 🦾 (@metaplex) September 23, 2024 Th...

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Community tokenization in gaming transforms players into stakeholders, enhancing engagement. Catizen is one of the standout examples of community tokenization in the gaming space. Catizen has achieved a 6-8% token holder conversion through strategic airdrop campaigns. The gaming industry is undergoing a profound transformation, driven by the rise of blockchain technology and the concept of community tokenization. This shift is turning players from mere participants into stakeholders, giving them ownership and governance rights in gaming ecosystems.  The concept of community tokenization, particularly in gaming, is gaining popularity because of the multiple benefits it offers. Projects that adopt this model create more inclusive communities where players have a financial and emotional investment in the platform’s success.  One of the standout examples of this trend is Catizen, which has successfully transitioned a portion of its player base into token holders, showcasing...

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As Ethereum continues to dominate the cryptocurrency market as the second-largest digital asset by market capitalization, new contenders like Solana, Cardano, and Rexus Finance are gaining traction with investors and developers. These projects are innovating in ways that could eventually challenge Ethereum’s position, each bringing unique benefits and developments to the table. Rexus Finance is focused on tokenizing real-world assets (RWA), fueling a revolution in ownership and liquidity in decentralized finance (DeFi). Meanwhile, Solana’s high-speed, low-cost blockchain and Cardano’s focus on scalability, sustainability, and smart contract integration position them as serious competitors in the evolving crypto space. Rexus Finance (RXS): Rising Beyond RWA Tokenization While Ethereum faces market fluctuations and short-term uncertainty, the real-world asset (RWA) sector is experiencing significant growth, and Rexus Finance ( RXS ) is at the forefront of this transformation. By integr...

As the cryptocurrency market continues to mature, new projects are emerging with innovative solutions for investors. One such project, Rexus Finance (RXS), has caught the attention of major players, including prominent investors from the Solana and Ethereum ecosystems. This emerging altcoin focuses on the tokenization of real-world assets (RWAs) and has generated significant interest through its presale and unique features. But is Rexus Finance the next altcoin with the potential for exponential growth? Let’s explore why Rexus Finance is attracting such attention and where it stands in the current market environment. Rexus Finance: A New Frontier in RWA Tokenization Rexus Finance has quickly established itself within the cryptocurrency community by addressing critical asset management issues using blockchain technology. The platform’s goal is to simplify the tokenization of real-world assets, making it more accessible to both individual and institutional investors. By leveraging t...

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Yeeha! Games, an industry-leading gaming platform, announced an exciting strategic partnership with Tokyo-based SOMSOC GALLERY during the Token2049 conference in Singapore. The collaboration aims to merge the worlds of Web2 and Web3, with both parties launching an exclusive co-branded “HOUSEBOY” designer toy collection, marking their official entry into the designer toy industry. On the 19th, Yeeha! Games presented HOUSEBOY at the National Gallery Singapore.  As part of this collaboration, Yeeha! Games and SOMSOC GALLERY have created a mascot ——「HOUSEBOY」, which will debut as a limited-edition SOFUBI ONEOFF designer toy. Sofubi, derived from an English term and simplified in Japanese, refers to soft vinyl toys made from flexible PVC material. Sofubi toys have a rich and long history, with the first Sofubi debuting in 1966. Over time, these toys have evolved from being merely a cultural symbol into a significant branch of art toys, including designer and collectible toys. Known f...

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Federal court ordered William Koo Ichioka to pay $31 million in restitution and $5 million in monetary penalty. The New York resident was charged and ordered to pay the total $36 million for defrauding victims in a forex and crypto scheme. A New York man is to pay a total of $36 million for defrauding victims in a scheme involving forex and crypto . In a press release on Sept. 20, the CFTC said William Koo Ichioka, formerly of San Francisco, will pay $31 million in restitution to the victims of his fraudulent scheme and $5 million in civil monetary penalty. The fine was handed by Judge Vince Chhabria of the U.S. District Court for the Northern District of California in an order given on Sept. 19. CFTC filed charges against Ichioka in June 2023 The CFTC filed a civil enforcement action against Ichioka in June 2023. The charges involved the fraudulent soliciting and stealing over $21 million from more than 100 commodity pool participants. Ichioka admitted to the charges and agr...

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WIF, PEPE and SEI were among top performing altcoins as Bitcoin surged to above $63,800 on Sept. 19. These gains followed US Federal Reserve’s 0.5% interest rate cut. Analyst says WIF could outpace market in coming weeks. Meme coins dogwifhat (WIF) and Pepe (PEPE), as well as layer 1 blockchain Sei (SEI) are among the top gainers in the past 24 hours as several altcoins record their best performances for a while. SEI was up 19%, WIF 17% and PEPE 12% as crypto rose amid Bitcoin’s surge to above $63,000 on Thursday. According to data from CoinGecko, SEI price reached highs of $0.35 as its volume jumped 224% to over $345 million. Meanwhile, WIF traded to $1.81 across major exchanges, notching an intraday volume of over $717 million with a 24-hour increase of 109% at the time of writing. Popcat (POPCAT), which has rallied since Kraken announced spot trading support , continued to outpace all other top 100 coins by market cap. However, meme coin Pepe also recorded decent gains to r...

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SEC reportedly seeks an extension to February 2025 for it to provide case documents to Coinbase. Coinbase, Binance and Kraken all facing SEC lawsuits. The US Securities and Exchange Commission has filed for an extension from the court, asking for more time as it looks to provide documents related to its case against crypto exchange Coinbase. Cointelegraph reported this on Sept. 19 SEC asks for extension Court documents filed on Sept. 18 reveal that the SEC wants the court to extend the timeline for them to furnish Coinbase with key material by four months. The regulator filed its request at the US District Court for the Southern District of New York, and if granted, will see it have until February 2025 for the deadline to share over 133,000 documents. SEC’s court filing comes a month to the end of the initial timeline on Oct. 18, which is when the securities watchdog was to hand over documents as part of the case’s discovery proceedings phase. According to the regulator, an ext...

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Singapore, Singapore, September 18th, 2024, Chainwire Key Takeaways: PancakeSwap is launching its first Initial Farm Offering (IFO) on Arbitrum, marking a significant milestone in its multichain expansion strategy. The IFO will feature Eigenpie, a leading Liquid Restaking Protocol on EigenLayer. The IFO will be conducted from 10:15 AM UTC on September 24th, 2024, to 10:15 AM UTC on September 25th, 2024. Participation methods include a Basic IFO for all CAKE holders and a Public IFO with reduced fees for veCAKE holders. PancakeSwap has unveiled its first-ever Initial Farm Offering (IFO) on the Arbitrum network. This event will spotlight Eigenpie, a well-known Liquid Restaking Protocol on EigenLayer with over $1B TVL, marking an important step in PancakeSwap’s ongoing expansion. The upcoming IFO will run from September 24, 2024, at 10:15 AM UTC to September 25, 2024, at 10:15 AM UTC. This venture marks a significant moment for PancakeSwap as it introduces its popular IFO model ...

Google Cloud announced the new blockchain remote procedure call service on Sept. 17 The blockchain RPC service is compatible with Ethereum and offers up to 100 requests per second. Google Cloud targets developers in the web3 space, aiming to scale development and deployment of decentralized applications. Google’s cloud computing platform has announced the launch of a new Remote Procedure Call service aimed at supporting developers in the web3 space. According to details in an announcement , Google Cloud’s blockchain RPC service is fully-compatible with Ethereum. Developers will leverage the new service for a cost-effective, scalable and reliable access to blockchain data. The RPC service targets developers building decentralized applications across the Web3 ecosystem, from startups to large enterprises. All these will have the opportunity to leverage Google Cloud’s reliability and performance, the company said. “Google Cloud’s Blockchain RPC offerings deliver fast response time...

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Tether (USDT) market share has risen to 75%, up from 55% in two years. Tether generated $400 million in revenue in the last 30 days. USDT on crypto exchanges hit a record $20.3 billion in August 2024. Tether (USDT), the world’s largest stablecoin, now commands over 75% of the stablecoin market, a rise of 20% in just two years. This growth reflects increasing adoption of USDT as a primary bridge between fiat currency and cryptocurrency. With a USDT supply of $118 billion, Tether has seen rapid expansion, supported by strong financial performance and strategic advancements. Tether’s surging market share According to data from Token Terminal, Tether’s market share in the stablecoin sector has surged from 55% to 75% over the past two years. ICYMI: @Tether_to has grown its market share from 55% to 75% over the past 2 years. 1) Tether's USDT supply is $118 billion 2) Tether's market share is 75% 3) Tether has made (an estimated) $400 million in revenue in the past 30 da...