Yuga Labs, a prominent player in the crypto space, rose to fame in early 2021 with the launch of its popular Bored Ape Yacht Club NFT project on Ethereum. The company soared to a peak valuation of $4 billion during a $450 million funding round in 2022. However, recent developments have cast a shadow over
Leverage
In response to reports of state actors using Tether’s USDT tokens to bypass US sanctions, the stablecoin issuer has taken a firm stance on regulatory compliance. Tether has vowed to freeze any addresses linked to sanctioned entities, aligning with the Office of Foreign Assets Control (OFAC) SDN list. This proactive approach reflects Tether’s dedication to
Meta is set to expand its Meta Quest ecosystem by opening up the operating system of its Meta Quest devices to third-party manufacturers, including industry leaders like Xbox and Lenovo. This strategic move could potentially shape the future of the metaverse and make mixed-reality technologies more accessible to a larger audience. Utilizing Meta Horizon OS,
Ethereum Open Interest has been showing a downtrend in recent times, indicating a shift in market sentiment. Open Interest refers to the total number of derivative-related contracts open for Ethereum on all exchanges. When this metric increases, it signifies that investors are opening new positions, leading to higher leverage and potentially increased price volatility. Conversely,
MicroStrategy founder Michael Saylor has been actively selling off shares of his brainchild over the past few months. With the authorization to sell up to 400,000 shares until April of this year, Saylor has successfully cashed in 370,000 shares, amounting to $372.7 million in value. This strategic move is part of an agreement he entered
The crypto market experienced a sharp decline on April 12, catching many by surprise. The price of Bitcoin and other altcoins plummeted, resulting in massive liquidations across the board. While there are various theories as to what caused this sudden downturn, including a correction in the US stock markets, the exact reason remains elusive. The
Binance, one of the leading cryptocurrency exchanges, recently made significant updates to its platform by adding 18 new cryptocurrencies to its loan program. This move aims to cater to current market trends and enhance user experiences. The addition of meme coins like dogwifhat (WIF) and Pepe (PEPE), along with established altcoins such as Hedera (HBAR)
The recent issuance of a Wells notice by the US SEC to Uniswap Labs, the entity responsible for the popular Ethereum-based decentralized exchange, Uniswap, has stirred up a storm in the crypto community. Hayden Adams, the founder of Uniswap, took to social media to express his reaction to the SEC’s warning. Despite his stoic stance,
Ethena Labs, the creators of USDe, have taken a significant step in scaling USDe’s supply by incorporating Bitcoin (BTC) as backing into their synthetic dollar-pegged offering. The decision to include BTC as a backing asset was strategically important as it aimed to leverage BTC’s superior liquidity and scalability for delta hedging, ultimately providing a more
Binance’s NFT marketplace recently made a major decision that has sent shockwaves through the crypto community. The platform announced that it will no longer support Bitcoin Ordinal NFTs after April 18. This means that users will no longer have the option to buy, deposit, bid on, or list these unique digital assets on the platform.