Payments giant PayPal says that its stablecoin, PayPalUSD (PYUSD), is expanding onto the blockchain of smart contract platform Solana (SOL). In a new company press release, PayPal says that the dollar-pegged crypto asset PYUSD – which launched in August 2023 in collaboration with the Paxos Trust Company – is now available on Solana, making it cheaper and faster to use. “The Solana blockchain is known for processing massive amounts of transactions at high speeds with extremely low costs, providing significant benefits for commerce use cases. As the most used blockchain for stablecoin transfers, according to data from blockchain analytics platform…
Author: dfrancis36
For the past week, a controversial celebrity token trend has emerged. Mainstream media figures began launching Solana-based memecoins and seemingly showing interest in cryptocurrencies. Related Reading The latest star to join the celebrity token frenzy is Australian rapper Iggy Azalea, who saw a controversial launch similar to Caitlyn Jenner’s JENNER token. Who Is Solana? On Monday, Azalea surprised the crypto community by showing interest in cryptocurrencies. The rapper and model posted on X asking, “Who is Solana? I don’t know that bitch.” The post has gathered over 1.8 million views and caused controversy in different communities. “Stan Twitter” interpreted the…
Riot Platforms Inc. (NASDAQ:RIOT) has made an unsolicited $950 million bid to acquire Bitfarms Ltd. (NASDAQ:BITF), following the smaller Bitcoin miner’s rejection of a previous takeover proposal last month. Riot offered $2.30 per share in cash and stock for Bitfarms, representing a 20% premium over Bitfarms’ trading price before Riot’s initial April offer, which was privately submitted to the board. Riot has accumulated a 9.25% stake in Bitfarms, becoming its largest shareholder, according to a statement on Tuesday that confirmed an earlier Bloomberg News report. Citing recent management turnover at Bitfarms as evidence of corporate governance issues, Riot announced plans…
The Texas State Securities Board has taken action against Arkbit Capital, issuing a cease and desist order for its involvement in alleged fraudulent crypto cloud mining activities. Led by Financial Examiner Alexis Cantrell, the board’s investigation revealed purported deceptive practices by Arkbit Capital and its associated entities.Allegations of Deceptive PracticesAmong the accusations, Arkbit Capital stands accused of employing deceptive image and video manipulation tactics to promote its investment offerings. The company, along with its affiliates Arkbit Capital Holdings, ABC Holdings LLC, and ABC Mining, allegedly misrepresented its operations, claiming to run Arkansas-based data centres for cryptocurrency cloud mining.Investors were enticed…
Metaplanet Inc. (TSE Standard: 3350), a Japanese publicly traded company, has announced a significant enhancement to its Bitcoin holdings. In a recent board of directors meeting, the company resolved to purchase an additional ¥250 million, currently worth $1.6 million USD, worth of Bitcoin.JUST IN: 🇯🇵 Japanese public company Metaplanet to buy another ¥250 million worth of #Bitcoin pic.twitter.com/YmRDiLl02z— Bitcoin Magazine (@BitcoinMagazine) May 28, 2024 Metaplanet has recently outlined its approach to managing their Bitcoin. The company also stated that Bitcoins acquired for long-term purposes will be recorded at cost, ensuring stable accounting treatment over time. Conversely, Bitcoins held for short-term purposes will…
Solana (SOL) is rapidly gaining the attention of institutional investors, who are increasingly showing a strong interest in this crypto token. This trend underscores the possibility that Solana could be the next in line to launch its Spot ETF, a development that could significantly impact the crypto token’s price. Solana Investment Funds Record Year-To-Date Inflows Of $29 Million According to CoinShares’ latest weekly report, Solana investment products currently boast a year-to-date (YTD) net inflows of $29 million. Last week, these funds saw net inflows of $8 million. Meanwhile, these Solana funds have recorded net inflows of $19 million this month…
Key takeaways BNB Chain is set to undergo its ZhangHeng upgrade later this month. The upgrade will address blockchain exploit risks, and no new BNB tokens will be issued. BNB Chain to undergo a major hard fork later this month BNB Chain, the blockchain of the Binance ecosystem, is set to undergo its “ZhangHeng” upgrade later this month. According to the development team, the upgrade will massively improve security features for users. The BNB team believes that network security remains a cause for concern within the cryptocurrency industry. The hard fork is set to take place on 19th July 2023.…
Maple Finance, a cryptocurrency lending firm, has introduced Syrup, a new loans platform and rewards token aimed at integrating institutional-friendly yield-bearing digital assets with the decentralized finance sector. Maple’s Syrup platform offers users up to 15% yields by depositing Circle’s USDC stablecoin. Users receive LP tokens (syrupUSDC) and additional yield in the form of “Drips,” a loyalty payment derived from the usage of the SYRUP rewards token, as announced in a press release on Tuesday. Holders of MPL, Maple’s native token, will be able to migrate to the SYRUP token on a one-for-one basis. While many centralized crypto lending firms…
Today, in the Southern District of New York, was the first hearing in the US Department of Justice’s (DoJ) case against Samourai Wallet developers Keonne Rodriguez and William Lonergan Hill.I attended the first hearing for the #Samourai Wallet case earlier today on behalf of @BitcoinMagazine and briefly spoke with one of the defendants, Keonne Rodriguez, after the hearing.Here's a recap of what I learned: pic.twitter.com/QZN4Ape0CZ— Frank Corva (@frankcorva) May 28, 2024 The two developers were arrested in late April and charged with conspiracy to commit money laundering and conspiracy to operate an unlicensed money transmitting business.Only Rodriguez and his attorney,…
Circle, a global financial technology firm and issuer of the regulated stablecoin USDC, has disclosed its official entry into the Brazilian market. This strategic manoeuvre aims to offer USD-backed digital currency and infrastructure to a region known for its burgeoning fintech landscape. Collaborating with key local enterprises like BTG Pactual and Nubank, Circle intends to introduce digital asset products facilitating swift, cost-effective, and round-the-clock access to USDC.This expansion coincides with a period of considerable fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin…