Agora, initiated by Nick van Eck, the progeny of Jan van Eck, the CEO of the renowned investment management firm VanEck, is poised to introduce a new stablecoin named AUSD. This digital dollar is designed to be pegged to the US dollar, offering a secure and stable cryptocurrency option amidst the volatile crypto markets. The … Continue reading VanEck Spearheads Entry into Stablecoin Market with Agora's AUSD Launch
A smart contract mishap has resulted in approximately $24 million worth of tokenized staked Solana (stSOL) being inadvertently locked on the Lido platform. The stSOL tokens represent staked Solana that users could previously lock in to earn a yield. This incident highlights the inherent risks associated with complex smart contract operations in the blockchain and … Continue reading Lido's Faulty Contract Locks $24 Million in Solana stSOL Tokens
In the first quarter of 2024, memecoins emerged as the most profitable crypto narrative, with an average return of 1312.6%. Among the top memecoins by market capitalization, new tokens like Brett, BOOK OF MEME, and cat in a dogs world garnered significant returns, according to CoinGecko. BRETT, in particular, saw the highest returns of 7727.6% since its … Continue reading Memecoins Dominate Q1 2024 Crypto Market Returns, Followed by DeFi and DePIN
The Bank for International Settlements (BIS) has announced a collaborative initiative with several central banks from various countries, including France, Japan, South Korea, Mexico, Switzerland, the UK, and the US Federal Reserve Banks, to explore the potential benefits and implications of asset tokenization within the global monetary system. The initiative, dubbed “Project Agora,” aims to … Continue reading BIS and Global Central Banks to Explore Asset Tokenization in "Project Agora"
As the crypto industry continues to evolve, the specter of past failures looms large over new projects. The latest in a series of concerns comes from Andre Cronje, the mind behind the blockchain platform Fantom. Cronje has raised red flags regarding the sustainability of Ethena Labs’ new USDe stablecoin, pointing to parallels with the infamous … Continue reading Fantom (FTM) Andre Cronje Raises Alarm Over Ethena's USDe Stablecoin Risks
The cryptocurrency exchange Binance is confronting increased regulatory pressures in Nigeria as authorities have escalated their accusations against the global digital asset platform. In a recent turn of events, Binance has been accused of facilitating activities that allegedly contributed to the crash of the Nigerian currency, the naira, in February 2024. These developments come despite … Continue reading Binance Faces Intensified Scrutiny in Nigeria Amid Accusations of Impacting Local Currency
Multicoin Capital, a prominent venture capital firm specializing in blockchain and cryptocurrency investments, has revealed its participation as a co-lead investor in a $225 million funding round for Wormhole, a key player in the multichain space. The funding round was completed late last year but has only been officially announced now, coinciding with the launch … Continue reading Multicoin Capital invests in Wormhole to enhance crypto interoperability
Aave stands out as a prominent decentralized lending platform based on Ethereum’s robust ecosystem. In a recent development that could significantly affect its community and token economy, Aave is set to introduce a “fee switch.” This strategic move, as announced by Aave Companies Initiative founder Marc Zeller, will take effect next week, with the potential … Continue reading Aave to Activate Fee Switch, Rewarding Token Holders with $60M Annual Profits
Andre Cronje, the founder of Yearn.finance and co-founder & architect of the Fantom Foundation, has proposed a novel framework designed to create a safer environment for both the community and investors interested in meme coins. In a recent post, Cronje outlined the risks associated with the current landscape of meme coins, such as team members … Continue reading Andre Cronje Proposes Framework to Bolster Security for Community and Meme Coins
BlackRock, the world’s largest asset manager, has taken a significant step forward in the cryptocurrency space by enlisting five prominent Wall Street firms to support its Bitcoin exchange-traded fund (ETF) operations. The firms—ABN AMRO Clearing, Citadel Securities, Citigroup Global Markets, Goldman Sachs, and UBS Securities—have been added as new authorized participants in the Bitcoin ETF … Continue reading BlackRock Expands Bitcoin ETF Operations with Five Major Wall Street Firms