A trader turned a $6 investment in the newly launched PENGU token into $87,000, according to Arkham Intelligence, amid a rush of trading, despite significant sell-offs following its explosive 500% rise.
According to NBC News, Trump’s victory has sparked a massive surge in the memecoin market. Experts believe this is just the beginning, as the casino era of crypto makes a powerful return 🚬
$BTC #RideTheKaiaWave A Forbes report suggests Bitcoin may require over 300 days of downtime and a costly update to defend against future quantum computing threats, particularly following concerns raised by Google's new "Willow" chip.
China executes official in $412 million corruption case.
China on Tuesday executed a 64-year-old former official who was convicted of bribery, state media reported.
Li Jianping, who served in the northern Inner Mongolia autonomous region, was convicted of corruption, bribery, misappropriation of public funds, and collusion with a criminal syndicate.
The 64-year-old official was given a death sentence in September 2022, which was upheld in August this year.
Ripple’s RLUSD Stablecoin Attracts Frenzy Bids for 800 XRP Ahead of Release
Ripple's upcoming RLUSD stablecoin is generating significant interest, with bids reaching up to 836 XRP (approximately $2,068) on on-chain marketplaces ahead of its launch on the XRP Ledger. Despite being pegged to $1, speculators are eager to secure early access, leading to inflated bidding prices. Ripple's CTO, David Schwartz, noted that some bidders might be willing to pay high prices for the novelty of holding the first RLUSD tokens.
The stablecoin will officially go live on Tuesday, with l
Revolut to Strengthen Crypto Fraud Protections With Added Security, Risk Scores
Revolut plans to enhance fraud protection for its crypto customers by extending its Revolut Pay service starting in 2025. This service will incorporate features like know-your-customer (KYC) name matching, fraud warning screens, proof of crypto delivery, and transaction risk scoring for crypto merchants. A pilot program revealed that crypto customers experienced about 50% fewer fraud attempts when using Revolut Pay.
The initiative aims to address the heightened risk of fraud in the crypto space
China’s economy is experiencing its largest financial collapse since its 2002 emergence into the WTO. 10-yr Chinese govt bonds now yield 1.75% and 30-yr bonds are also below 2%. Banks are insolvent and leverage is 350% of ‘reported’ GDP. The first 14 trillion RMB fill a hole. #RideTheKaiaWave
ECB’s Rehn Sees Direction Clear on Rates as Inflation Stabilizes
Olli Rehn, a member of the European Central Bank's Governing Council, indicated that interest rates are expected to decline as inflation stabilizes around the 2% target. He emphasized that the direction of monetary policy is now clear, but the pace and extent of rate cuts will depend on incoming data and thorough analysis during each meeting. Rehn also expressed concerns regarding potential risks from U.S. trade policies. #RideTheKaiaWave $BTC
Tether invests in Maltese firm amid MiCA implementation
Tether revealed its investment in Malta-based StablR. This strategic move aligns with Europe’s forthcoming enforcement of the Markets in Crypto-Assets Regulation, effective Dec. 30, 2024.
Wallet linked to Pudgy Penguin 🐧 Multisig has dumped over 88M $PENGU onchain and sent more to exchanges; community urged to research further without accusations. #RideTheKaiaWave #