McDonaldâs Instagram Hacked to Promote Solana-Based Scam Meme Coin âGrimace
The scammer reportedly made a profit of $700,000.
McDonaldâs Instagram page was reportedly hacked on August 21, leading to a significant scam involving a Solana-based meme coin.
The perpetrators exploited the fast-food chainâs social media account to promote a fraudulent token named âGrimace,â referencing one of McDonaldâs fictional characters featured in its advertisements.
Bubblemapsâ findings reveal that the hacker acquired 75% of the Grimace tokenâs total supply using the Solana meme coin deployer pump.fun. The attacker leveraged multiple addresses to purchase the token simultaneously and then distributed the accumulated supply across approximately 100 different wallets.
The hackers reportedly siphoned over $700,000 in Solana during the scheme. Screenshots from X revealed that the McDonaldâs Instagram page was altered to endorse the token as a âMcDonaldâs experiment on Solanaâ and included a message thanking followers for their contributions, hinting at the scamâs execution.
In a statement to the New York Post, McDonaldâs said that it was aware of an âisolated incidentâ affecting its social media accounts.
We have resolved the issue on those accounts and apologize to our fans for any offensive language posted during that time.â
This event serves as a reminder for investors to be cautious with newly launched meme coins, as many of these highly volatile assets are susceptible to scams. For the Solana ecosystem, pump.fun has emerged as a prominent site for meme coin creation.
Introduced on January 14, 2024, pump.fun saw its popularity surge in March, coinciding with the peak of the meme coin season.
K33âs report reveals that the platform is approaching $100 million in total revenue. Since the start of the year, users on pump.fun have launched 1,829,747 meme coins, a number that many argue reflects the lack of seriousness in the Solana DeFi space.
$BTC $SOL #BlackRockETHOptions
#POPCAT UPDATE đš
Currently Trading at 0.58$ , Recently Launched on Binance Future ! letâs Check it out and Discuss Upcoming scenarios!
Key Levels:
Support: $0.40 is a critical support level, and holding above this level could set the stage for a potential breakout. However, if it fails, we might see a drop towards the $0.35 range.
Resistance: On the upside, the nearest resistance is around $0.60. Breaking above this level could lead to a bullish move towards $0.65 or even higher.
What can be bullish and Bearish Targets ?
Bullish Target: If the price breaks above $0.60, the next targets could be $0.65 and then $0.70.
Bearish Target: A break below $0.40 could lead to a drop towards $0.35, with $0.30 as a more extended bearish target.
Given the current market conditions, monitoring these levels closely for a potential breakout or breakdown is essential.
Ethereum ETFs Still in Red While BlackRock Bucks Trend By Topping $1 Billion Inflows
Key Takeaways
âą Cumulative outflows for the past five days are approaching $100 million.
âą BlackRockâs ETH ETF is the first to surpass $1 billion in net inflows.
âą Grayscaleâs primary Ethereum fund outflows have reached $2.5 billion.
U.S. spot Ethereum (ETH) exchange-traded funds (ETFs) have posted net outflows for yet another day, marking the longest streak since launch.
While the ETH ETF market appears to be on a losing streak, Grayscaleâs outflows are the main driver behind the negative daily flow results.
Ethereum ETFs
Per data from SoSoValue, Ethereum ETFs have seen $17.97 million in net outflows for Aug. 21, 2024, bringing their cumulative net outflows to $458 million
Fidelityâs Ethereum Fund (FETH) secured the top spot for inflows, posting $7.93 million in gains. FETH is the second-best performing fund in cumulative net inflows, which now stand at $375.43 million.
Closing the gap is the Grayscale Ethereum Mini Trust, which tallied $4.24 million in net inflows, bringing its cumulative total to $232.08 million.
After a six-day neutral flow streak, the Franklin Templeton Ethereum Trust (EZET) has emerged as an unlikely victor amid todayâs outflows. It secured a cool $1 million for its fund, bringing EZETâs cumulative net inflow to $36.33 million, ranking it sixth amongst other funds.
All other funds, except for one, posted neutral flows. The Grayscale Ethereum Trust (ETHE) saw its seventh day of outflows, shedding $31.14 million from its fund.
BlackRock ETFs Up
BlackRockâs iShares Ethereum Trust (ETHA) is still on top despite posting neutral flows. After drawing in a modest $26.77 million on Aug. 20, ETHA surpassed $1 billion in cumulative net inflows and is the first ETH ETF to do so.
Having recorded just five days of neutral flows, ETHA is yet to see a single day of net outflows.
The firmâs management fees arenât exactly competitive and sit at 0.25%, which is just above or the same as a majority of other funds. Of course.
**Crypto Campaign Buzz: Harris' Wink at Blockchain?**
- Kamala Harris' aide hinted at a crypto-friendly stance, sparking speculation about her campaign's tech policies. đȘ
- Brian Nelson, ex-Treasury official, suggested Harris might support crypto growth, a shift from her previous silence.
- Industry insiders see this as a positive sign, contrasting with Trump's bold pro-BTC claims.
- Harris' campaign has yet to detail its crypto agenda, but the absence of anti-crypto rhetoric is seen as a good sign.
- With the presidential debate looming, both candidates might soon reveal more on their crypto policies.
Stay tuned for more blockchain banter!
đ **Crypto in the Campaign Spotlight!** đ
In a surprising twist, an aide to Kamala Harris hinted at a pro-crypto stance, suggesting her campaign might support policies that foster blockchain innovation. Brian Nelson, who recently joined Harris' team, dropped this nugget at the DNC.
While Harris hasn't directly addressed crypto, the buzz is real! Could this be a shift from the Biden era? đ€
Trump, on the other hand, is all in, promising to defend BTC miners and denounce central bank digital currencies.
What do you think? Will Harris embrace the crypto wave? Comment below! đŹ
#Crypto2024 #HarrisForCrypto #BlockchainBuzz
**Crypto-Friendly Shift in Harris Campaign?**
On Aug. 21, an aide from Kamala Harris' campaign hinted at a potential shift towards supporting the crypto industry. Brian Nelson, who recently joined the campaign from the Treasury Department, suggested Harris might back policies fostering growth in emerging technologies like crypto.
This marks a departure from the campaign's previous silence on digital assets. While Harris hasn't directly commented, the move has sparked speculation about her stance on crypto regulation.
With the Democratic National Convention approaching, industry leaders are watching closely to see if Harris will outline a clearer crypto policy, potentially distancing herself from the stricter regulatory approach seen under the Biden administration.
Stay tuned for more updates as the presidential race heats up!
Exciting developments from India! đźđł The Indian government is set to unveil a crypto consultation paper between September and October 2024, marking a pivotal moment in the countryâs journey toward establishing clear and comprehensive crypto regulations. Spearheaded by the Secretary of the Department of Economic Affairs, this initiative will gather insights from industry leaders and key stakeholders, shaping the future of crypto assets in India.
As the global crypto movement gains traction, India is taking proactive steps to ensure regulatory clarity. With the Ministry of Finance highlighting the importance of global collaboration and tailored, country-specific strategies, thereâs a strong potential for transformative changes in Indiaâs crypto policy on the horizon.
Keep an eye on Indiaâs evolving crypto landscapeâthis initiative could be a significant game-changer!
#Crypto_JobsđŻ #CryptoNewss #LowestCPI2021 #BinanceLaunchpoolDOGS #BullBanter
đš Trump vs. Biden: Job Market Controversy Roils Financial Markets! đš
In a startling accusation, former President Donald Trump has claimed that the Biden administration is manipulating job market data, a charge that, if proven, could send shockwaves through financial markets. Hereâs what you need to know:mark
Market Confidence at Stake: Trump's allegations could undermine trust in the economic recovery, prompting investors to reassess the stability of their portfolios. With market confidence on the line, the ripple effects could be significant.
Political Instability: As this controversy heats up, political uncertainty could intensify, potentially leading to market volatility. The specter of a scandal has the potential to disrupt financial markets and shake investor sentiment.
Potential Investigation?: There are increasing calls for an official investigation into the Bureau of Labor Statistics, as concerns about possible corruption add to the growing unease in the markets.
Dollar Vulnerability: Ongoing uncertainty might weaken the US dollar, reflecting broader concerns about economic stability, while the turbulence could drive investors toward alternative assets.
Crypto Boom?: As traditional markets face chaos, safe-haven assets like Bitcoin might experience a surge, potentially igniting a significant rally in the crypto space.
The financial world is on edge. Will this accusation lead to a full-scale investigation, or is it merely political theater? The resolution of this controversy could have profound implications for the market landscape. Stay tuned as this situation evolves!
#donaldtrump #JoeBiden #Market_Update #CryptoMarketMoves #BinanceBlockchainWeek
Bitcoin (BTC) Attempts Break Above Bullish Pattern as Buying Pressure Gains
âą Bitcoin has formed an ascending triangle, signaling increased buying pressure despite facing resistance at $61,845.
âą BTC's rising CMF and OBV suggest the potential for a continued uptrend as buying pressure keeps strengthening.
âą A bearish taker-buy-sell ratio in BTC's derivatives market could counteract gains, risking a drop to $58,464.
Bitcoin Seeks to Break Above Resistance
An ascending triangle is a bullish chart pattern that forms when an assetâs price moves between a flat horizontal resistance line and a rising support line. This pattern signals growing buying pressure while selling activity remains concentrated at a specific price level. As demand increases, the price edges closer to breaking the resistance.
For Bitcoin, the key resistance level within this pattern is $61,845. Currently trading at $60,940, BTC is attempting to break above this resistance, indicating that buyers may soon overcome selling pressure, potentially pushing the price higher.
The Chaikin Money Flow (CMF) indicator supports this outlook. With a reading of 0.01, the CMF has moved above the zero line for the first time since August 13, reflecting increasing capital inflows that strengthen the bullish momentum.
This indicator measures the flow of money into and out of an asset. When its value is above zero, it signals liquidity entry into the market and a spike in buying activity. Traders often view it as a precursor to a price rally.Â
Additionally, BTCâs on-balance volume (OBV) has risen steadily since the ascending triangle began. This indicator measures buying and selling pressure in an assetâs market.
When it increases, it indicates that buying pressure outweighs selling activity, hinting at a bullish recovery.
BTC Price Prediction:Â Futures Traders Tread a Different Path
While BTC enjoys a growing bullish bias in its spot market, its derivatives market traders have adopted a bearish approach. This is evident in the coinâs taker-buy-sell ratio (assessed using a 14-day simple.
Analyst Predicts $XRP Peak by December 2024, Foresees Potential Supercycle
An analyst forecasts a major breakout for XRP around December 2024, following historical trends seen 228 days after Bitcoin halvings. This pattern, noted in previous cycles, suggests $XRP could begin its rise by the end of 2024. Mid-February 2025 is flagged as a key point for taking profits, with the cycle likely concluding by August 2025.
The analyst also hints at a possible supercycle, with XRP experiencing three major surges instead of two, potentially driving the price to $200. After an initial rise, a retracement is expected before another significant increase, potentially leading to a 100x gain.
#Write2Earn! #BinanceBlockchainWeek #LowestCPI2021 #BlackRockETHOptions #BullBanter
Trump Endorses Bitcoin! Is This the End of Traditional Banking?
âą Donald Trump promotes âThe Defiant Onesâ crypto project as a counter to traditional banks on Truth Social platform.
âą Initially skeptical of cryptocurrencies, Trump now embraces Bitcoin, positioning it as a strategic U.S. reserve asset.
Donald Trump has recently amplified his engagement with the cryptocurrency sector, promoting a family crypto project named âThe Defiant Ones.â He positions this venture as an alternative to traditional banking, advocating for what he describes as financial liberation from the control of large financial institutions.
This marks a pivot from Trumpâs previous stance on cryptocurrency, which he once dismissed as a âscam against the dollarâ in 2021. His recent communications, however, show a notable shift, as he actively endorses Bitcoin and positions it as a strategic component of the United Statesâ financial reserves should he return to the presidency.Â
Trumpâs promotion of âThe Defiant Onesâ occurred on his social platform, Truth Social, where he linked to the projectâs Telegram channel and encouraged followers to take a stand against the financial elite.Â
His post swiftly garnered attention, significantly increasing the Telegram channelâs following, reflecting his substantial influence on public discourse and sentiment.
Moreover, this engagement with the crypto world coincides with Trumpâs campaign, as he currently leads over Kamala Harris in prediction markets for the upcoming presidential election.
This maneuver not only highlights his strategic pivot towards embracing digital finance but also aims to resonate with a voter base that is increasingly skeptical of conventional financial institutions.
However, involvement in cryptocurrency is not without its challenges. The Defiant Ones team has issued warnings about potential scams and emphasized the importance of vigilance among its community members, signaling the complexities and risks associated with the rapidly evolving crypto market.
$BTC
BREAKING: Ripple to Settle $125M Fine with SEC in Just 18 Days! đš
In a remarkable twist, Ripple has agreed to a $125 million settlement with the SECâa significant reduction from the initial $2 billion the regulator was pursuing. This outcome marks a significant triumph not just for Ripple, but for the broader cryptocurrency industry. Ripple's CEO, Brad Garlinghouse, hailed this as a decisive win, which could set a precedent for clearer regulations surrounding XRP and potentially shape the future landscape of crypto compliance.
Despite a recent dip in $XRP trading volume and price, this settlement could be the catalyst for a major rebound in the market. With such a pivotal development, the stage is set for a potential surge in XRP's value. The question is, are you ready to catch the next wave?
#Write2Earn! #LowestCPI2021 #BinanceLaunchpoolDOGS #CryptoMarketMoves #BullBanter
đ Bitcoin bulls are back in action! BTC surged 4% between Aug. 21-22, holding strong at $60K. Analysts say breaking $62K is key for a bullish trend. Decode, a Bitcoin analyst, suggests BTC needs to close above the 200-day moving average to resume its bull run.
đ Despite a slow August-September, Decode is optimistic for Q4. Investors eye the Fed's potential rate cut on Sept. 18, which could favor risk-on markets like Bitcoin.
đ° Spot Bitcoin ETFs saw $226M in net inflows, showing growing interest. With a favorable regulatory outlook and macro trends, BTC could break $62K by year-end.
đ Bitcoin Bulls Still Charging! đ
Bitcoin (BTC) saw a 4% boost between Aug. 21-22, holding strong at $60,000. Analysts suggest a break above $62,000 could confirm a bullish trend. With the Fed likely to cut interest rates, Bitcoin bulls are feeling optimistic.
Decode, a Bitcoin analyst, believes BTC needs to break the 200-day moving average to resume its bull trend. While August-September might be "boring," Q4 could surprise us all!
đŹ What do you think? Will Bitcoin break $62K soon? Drop your thoughts below! âŹïž
#Bitcoin #CryptoTrends #BTC
(Note: This is not financial advice.)
**Bitcoin Holds Steady Amid Market Speculation**
Bitcoin saw a 4% rise between Aug. 21 and Aug. 22, maintaining its $60,000 support level. Analysts suggest that breaking the $62,000 resistance is crucial for a bullish trend. Despite current stagnation, confidence remains high due to potential expansionary measures from the US Federal Reserve.
**Key Points:**
- Bitcoin must surpass the 200-day moving average to resume its bull trend, according to analyst Decode.
- Investors are bullish for Q4 but expect a quiet August-September.
- The Federal Open Market Committee may cut interest rates on Sept. 18, possibly boosting Bitcoin.
- Bitcoin remains 16% below its June 2024 high, while gold and the S&P 500 are near record levels.
- Spot Bitcoin ETFs saw $226 million in net inflows recently, indicating growing interest.
As the US presidential elections approach, candidates are likely to support the crypto industry, potentially aiding Bitcoin's climb above $62,000 by year-end.
$USDC First Mover Americas: Bitcoin Advances Following Reports of RFK Jr. Withdrawal
Latest Prices
CoinDesk 20 Index: 1,968 +2.8%
Bitcoin (BTC): $61,253 +3.0%
Ether (ETH): $2,638 +2.0%
S&P 500: 5,620.85 +0.4%
Gold: $2,541 +1.3%
Nikkei 225: 38,211.01 +0.68%
Bitcoin rallied during the late European morning having zigzagged between $59,000 and $61,000, and climbed to around $61,250, a 24-hour increase of nearly 3%. Some news outlets reported late Wednesday that Robert Kennedy Jr. was planning to drop out of the U.S. presidential race by the end of this week and would endorse Donald Trump, who has positioned himself as a pro-crypto president if elected. Polymarket bettors give the withdrawal an almost 94% chance of it happening, a major shift from earlier in the week. The broader digital asset market is nearly 2.75% higher than 24 hours ago, as measured by the CoinDesk 20 Index.
Nearly half of all corporate political contributions in the 2024 election cycle came from cryptocurrency companies, according to a Wednesday report from corporate influence watchdog Public Citizen. The report found that, so far, 48% of corporate election spending has come from crypto companies like Ripple and Coinbase. Thatâs $119 million out of a total of $248 million. The vast majority of those donations have been funneled into pro-crypto super political action committees (PACs) like Fairshake as well as squashing the bids of crypto skeptics. Just under $108 million of the $203 million raised by Fairshake has come directly from crypto companies, according to the report. The rest came from large donations made by deep-pocketed and prominent individuals, like the Winklevoss twins and Brian Armstrong.
One year ago, HashKey Capital forecast that ether liquid-staking derivatives would double from their August 2023 total value locked to $44 billion by August 2025. Halfway through, it looks like things are on track. The TVL of Ether LSDs hit $36.25 billion, with Lido claiming a 70% market share, according to data from DeFiLlama. Despite relatively stagnant ETH prices recently.
$ETH Arch wants to rebuild trust in crypto lending with $5 million in funding and a $70 million debt facility backed by Galaxy
The crypto industry may try to pretend that the collapses of 2022 are a distant memory, but the lending sector has not recovered from the catastrophic implosion of firms like BlockFi and Genesis, which provided loans to customers in exchange for often shaky collateral. Now, a growing startup thinks it can help reinvigorate the sectorâwhile also ensuring it doesn't suffer the same fate as its predecessors.
New York-based Arch, founded by finance veterans Dhruv Patel and Himanshu Sahay, announced on Thursday it raised a $5 million equity seed round for its crypto lending practice co-led by Morgan Creek Digital and Castle Island Ventures, along with a $70 million debt facility funded by Galaxy, which will serve institutional clients and individual investors. Arch previously raised $2.75 million from Castle Island and Tribe Capital in late 2022.
"We saw a real opportunity to have a conservative approach," Patel, who previously worked at Bridgewater and Brex, told Fortune. "We've seen tremendous demand."
Turning the page
During the bull market of 2021 and 2022, crypto lending was a booming business. Firms focused on both institutional and retail customers, accepting collateral in thinly traded assets and often lending that collateral out to other clients, a risky process called rehypothecation. The process contributed to the collapse of well-known firms, including Genesis, which lent its customers' assets out to counterparties such as Sam Bankman-Fried's trading firm, Alameda Research.
While crypto markets have come roaring back over the past year, new lenders haven't emerged to fill the void left by firms like Genesis and BlockFi. Some, such as Archegos, have popped up to serve as counterparties on the other side of trades, but Patel and Sahay saw a lane for creating a lending outfit that would allow customers to deposit their crypto and receive dollar-denominated loans in exchange.
2 Big news for đș#Avalanche Ecosystem!đș
Grayscale just launched the Grayscale Avalanche Trust, offering accredited investors direct exposure to Avalancheâs native token, $AVAX.
This trust highlights Avalancheâs key role in RWA tokenization and adds to Grayscaleâs growing portfolio, which already includes $BTC, $ETH, and $SOL.
With recent expansions into $TAO, $SUI, and more, Grayscale is pushing the boundaries of crypto investing.
In addition to this:
đFranklin Templeton is bringing its OnChain U.S. Government Money Fund (FOBXX) to the network, a huge boost for Avalancheâs credibility in the financial world.
The BENJI token, representing shares in this $420M fund, will now be available on Avalanche, enhancing liquidity and accessibility for investors. This move highlights Avalancheâs strengthsâspeed, security, and scalabilityâand positions it as a serious platform for institutional finance.
Franklin Templetonâs presence will likely drive innovation and attract more projects, solidifying Avalancheâs role in bridging traditional finance with blockchain. đ
If youâre into DeFi and blockchain, keep an eye on Avalanche!
đš #Bitcoinâ Bearish Divergence Alert! đš
Should You Be Worried?đ€Key Points to Consider:
đ Bearish Divergence Detected:The price is making higher highs, but key indicators like RSI are showing lower highsâa classic sign of potential downward pressure!
â ïž What Does It Mean?This divergence could indicate that the current uptrend is losing momentum, possibly leading to a correction or reversal.
âł Short-Term Caution: While this isn't a guaranteed signal, traders often use it as a cautionary flag to protect gains or tighten stop-losses.
đ Keep an Eye on the Charts: Monitor support levels and look for confirmation signals before making major moves.
đŻ Long-Term Investors:Focus on the bigger pictureâdivergences are more relevant to short-term trading.
Stay informed, trade smart!
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$BTC #CryptoMarketMoves #BinanceBlockchainWeek
$MEMEcoin Scams on the Rise!đ»đ»
Beware of MEMEcoins promoted by well-known accounts!
Yesterday, a hacker compromised McDonald's Instagram account to pump $GRIMACE.
Here's the shocking exploit:
- Hacker used 24 insider wallets
- Bought 705M $GRIMACE with just 65 $SOL
- Sold for 5,202 $SOL, making 5,136 $SOL ($738K)
- 79x return in a short scam!
Don't fall victim to these schemes!
- Verify information before investing
- Be cautious of sudden promotions
- Research thoroughly
Stay safe, and stay informed!
#GRIMACE #CryptoSafety #InvestWisely #BewareOfScams #CryptoMarketMoves
$ETH Stablecoin Issuing System M^0 Employs Fireblocks for Crypto Custody
âą Institutions that use Fireblocks for crypto key management workflows will work seamlessly with M^0âs stablecoin-minting and validation software.
âą The protocol aims to fill the gap between existing stablecoin systems, where all the yield goes to either the token issuers or the token holders.
M^0 (pronounced âM Zeroâ), a protocol that allows institutions to mint their own stablecoins backed by U.S. Treasury bills, reached an agreement for Fireblocks to provide cryptocurrency custody services to its issuers.
Firms using M^0 to mint cryptodollars use private keys to transfer them, update collateral balances, retrieve and burn tokens and interact with other participants in the ecosystem such as validators for checking reserves. Those keys now work seamlessly with Fireblocks' key-management system, the companies said.
"We are creating these minter modules and validator modules to be as institutional ready as possible,â M^0 Labs CEO Luca Prosperi said in an interview. âSo when a party like a large market maker or trading desk, for example, comes and says they want to become a minter, but have their key management system on Fireblocks, then you can integrate it in a seamless way with them. We are doing this because we think no one is as well equipped as Fireblocks to do such sophisticated workflow and key management systems for crypto assets."
M^0 Labs develops the software for the protocol, which is governed by the decentralized M^0 Foundation.
The organization also highlights what it says is a unique feature of its business model.
The success of stablecoin issuers like Tether, whose USDT is the largest by market cap, and Circle, producer of the No. 2, USDC, have focused attention on the industry and seeded a new crop of dollar-pegged tokens. Those tokens are generally backed by yield-generating reserves, typically U.S. Treasury bills.
In existing models either the issuer, such as Tether or Circle, keeps all yield, or the interest payment accrues to the token.
Crypto Asset Manager Grayscale Offers AVAX Token Investment in New Avalanche Trust
âą The Grayscale Avalanche Trust offers investors exposure to the AVAX token, used to pay transaction fees and secure the high-speed, ultra-scalable blockchain.
âą Grayscale recently introduced a slew of decentralized AI token funds.
Cryptocurrency asset manager and exchange-traded funds (ETF) provider Grayscale Investments said it added an Avalanche blockchain token trust to the slew of new products the firm has introduced in recent weeks.
The Grayscale Avalanche Trust, announced Thursday, offers investors exposure to the AVAX token, used to pay transaction fees and secure the high-speed, ultra-scalable competitor to Ethereum.
Interest in publicly tradeable products linked to cryptocurrencies and the surrounding ecosystem has been growing since January, when the Securities and Exchange Commission (SEC) approved the first bitcoin {{BTC}} ETFs for U.S. trading. Grayscale, the remaining jewel in Digital Currency Group crown, has brought digital assets to conventional investors for a decade through its bitcoin trust, which became one of the first ETFs after approval. The firm also recently uplisted Grayscale Ethereum Trust (ETHE) to an ETF structure.
Grayscale, whose new CEO, former Goldman Sachs banker Peter Mintzberg, took over a week ago, now offers more than 20 crypto investment products. The asset manager has lately focused on decentralized artificial intelligence (AI), having introduced an AI-focused digital asset trust, followed by two single asset funds: the Grayscale Bittensor Trust and Grayscale Sui Trust, that will hold the TAO and SUI tokens, respectively.
âThrough its key strategic partnerships and unique, multi-chain structure, Avalanche is playing a pivotal role in the advancement of RWA tokenization,â said Grayscaleâs head of product and research, Rayhaneh Sharif-Askary, in a statement, referring to the process of creating a way of trading real-world assets on-chain.
Avalancheâs AVAX token was trading at around $23 at the time of writing.
{spot}(TONUSDT)
URGENT UPDATE REGARDING $SYS $SYN $BRETT
(Support us vote for me go to my profile and vote đ)
1ïžâŁ SYS (Syscoin) - Decentralized Finance: SYS has experienced a notable decline to $0.1424, representing a 4.88% loss. The recent downtrend indicates negative sentiment, with a potential continuation if SYS breaks below $0.1400. The 4H RSI indicator shows a bearish signal at 38.50, suggesting further losses. Key support levels: $0.1300 and $0.1200.
2ïžâŁ SYN (Synapse) - Cross-Chain Bridging: SYN has increased to $0.5667, representing a 0.43% gain. Despite its relatively stable price action, SYN boasts a strong community, anticipating potential upward movement post-news or tomorrow. The RSI 4H indicator remains neutral around 52.20. A breakthrough above 55.00 could trigger further gains, targeting the $0.5800 area.
3ïžâŁ BRETT (Brett Token) - Community-Driven: BRETT has surged to $0.09370, representing a 5.21% gain. The recent uptrend indicates positive sentiment, with a potential continuation if BRETT breaks above $0.09500. The 4H RSI indicator shows a bullish signal at 65.80, suggesting further gains. Key resistance levels: $0.1000 and $0.1050. Community support matters for sustained breaks.
đIf you like our work go to profile vote for us daily to win this creator award. Your generous vote empower us to work more harder, providing you with the best investment advice. They fuel our mission to deliver high-quality content, helping you make informed decisions. Thank you for your support! đ
#BTCâ #Write2Earn! #BinanceTurns7#CryptoMarketMoves #BinanceLaunchpoolDOGS
$BTC PayPal partners with crypto bank Anchorage Digital to offer stablecoin rewardsâdespite murky legal rules
When PayPal joined the stablecoin wars in August 2023 with its dollar-backed PYUSD, the crypto industry celebrated the entrance of a TradFi company into a competitive arena dominated by crypto-native firms Tether and Circle. But a year after its launch, PYUSD is still lagging behind its competitors with a market capitalization of less than $1 billion, paling in comparison to Tether's $117 billion.
In a bid to increase adoption, PayPal is partnering with Anchorage Digitalâthe only U.S. crypto firm to hold a bank charterâto offer rewards to Anchorage Digital's user base of accredited investors who hold PYUSD at its U.S. bank, its Singapore subsidiary, or by means of its noncustodial wallet Porto.
But the launch of the program also raises questions about the regulatory uncertainty around stablecoin interest payments, as the growing asset class remains a jump ball between different U.S. agencies and Congress drags its feet on passing legislation.
Anchorage Digital insists that PYUSD and the rewards program do not constitute a securities offering nor fall under the jurisdiction of banking regulators. Still, the product is charting new territory. "This is the first time a bank is getting involved in the crypto rewards slash interest ecosystem, and that's really new," said Todd Phillips, a banking and administrative law professor at Georgia State University, in an interview with Fortune.
The fine print
While stablecoins can be tied to any underlying asset, such as the euro or precious metals, it is U.S.-dollar-backed products like Tether and USDC that have exploded in popularity over the past few years. Tether has found success targeting investors outside the U.S. who want to hold dollar-pegged assets, while USDC issuer Circle has focused on crypto app users who want to transact with a stablecurrency.
In the current era of higher interest rates, the assets that back the stablecoinsâtypically U.S. Treasuries.