Cryptocurrency

This time, he took to his X (formerly known as Twitter) handle to talk about the recently approved spot Ethereum ETFs and to bash them.The Bitcoin maximalist believes that spot Ethereum ETFs (“securitized ETH,” as he put it) are facing no demand at the moment and that Bitcoiners are not going to rethink their models because of those spot Ethereum ETFs. Last week, Mow tweeted that it was investors’ “last chance to sell ETH above 0.05 BTC.”Saylor explained that this positive SEC decision on Ethereum makes the entire asset class bigger, and it can help attract more money into Bitcoin itself.The largest amount of BTC was grabbed by BlackRock – 1,503 BTC worth $102+ million. Fidelity added 503 BTC, VanEck acquired 206 BTC. Grayscale saw an outflow of 47 Bitcoin. By now, BlackRock has surpassed Grayscale as the largest spot Bitcoin ETF holding $19.59 billion in Bitcoin versus Grayscale’s $19.6 billion.Over the past 24 hours, Bitcoin added 1.35%, rising above the $68,000 price level. However, this marginal rise was followed by a pullback that took the world’s flagship cryptocurrency back to $67,430 – that is $200 higher than the point from which Bitcoin rose yesterday.This article was originally published on U.Today More

According to ARK Invest CEO Cathie Wood, cryptocurrency has become a U.S. election issue, attributing the sudden approval of ether exchange-traded funds (ETFs) to this political shift.Speaking at Consensus 2024, Wood said, “The read was it was not going to be approved. It was absolutely not going to be approved. If it were to have been approved the regular way, we would have been getting questions from the SEC. No one was getting questions from the SEC beforehand.”Wood, who also serves as ARK Invest’s chief investment officer, pointed out that sentiment evolved around the Financial Innovation and Technology for the 21st Century Act (FIT21) in the House. The act passed last week with bipartisan support, reflecting its impact as an election-year issue.Another major factor, according to Wood, was former President Donald Trump’s support for bitcoin and cryptocurrency. “That week, he said he would accept campaign donations in crypto,” which, she noted, drew attention from the administration.Wood also discussed the potential approval of a Solana ETF, but she was skeptical about meme coin-focused funds due to the reluctance of brokers and investment advisors to accept anything beyond the primary cryptocurrencies.In her speech, Wood also stressed ARK’s stance that bitcoin (BTC) is a public good. She mentioned that the Ark 21Shares Bitcoin ETF, which was approved in January with a fee of 0.21%, was designed to be accessible to a broad audience. “We should make [the ETF] as accessible as possible to as many people as possible, so keep the fee very low,” she stated.Wood also announced that ARK will allocate a percentage of its private fund revenues to support Bitcoin developers, ensuring they receive consistent backing regardless of the ETF’s profitability.Wood is known for her optimistic outlook on bitcoin, predicting that BTC could reach $1.5 million by 2030 and describing it as a “financial super highway.” Despite the progress in approving ether ETFs, Wood reaffirmed her preference for bitcoin over ether when asked if she would rather hold bitcoin or ether. “Bitcoin, hands down. No question about it. It is a global monetary system. It is a technology, and it is a new asset class. Those are three big ideas in one, and nothing else in the crypto world is competing with it,” she concluded.  More

OkayCoin, a leading entity in the cryptocurrency staking market, has announced the launch of new APY staking offers. This strategic move aims to leverage the growing interest among younger investors in cryptocurrency investments.The OkayCoin team aims to provide an alternative for individuals looking to optimize their cryptocurrency earnings with new staking options that feature competitive APYs. These offers align with OkayCoin’s broader strategy to streamline cryptocurrency investment, with the potential for returns and robust security.Key Features of OkayCoin’s New Staking Offers:● $100 bonus registration link：www.okaycoin.com● Competitive APY Rates: APY rates that aim to provide favorable returns.● User-Friendly Platform: Easy-to-use interface that allows young investors to stake cryptocurrencies effortlessly.● Enhanced Security Measures: State-of-the-art security technologies to protect investments.● Diverse Staking Options: Supports a wide range of cryptocurrencies, offering flexibility and choice for investors.● No Specialized Knowledge Required: Designed to be accessible to beginners without prior staking experience.The new APY staking option is now available on the OkayCoin platform, with detailed information accessible to all interested users.About OkayCoinOkayCoin is a leading technology firm specializing in blockchain solutions and cryptocurrency staking. With a focus on user-friendly designs and cutting-edge technology, OkayCoin strives to deliver exceptional service and investment opportunities in the cryptocurrency space.For more information about how to get started with OkayCoin users can visit https://okaycoin.comi or use media contacts.OkayCoin is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.ContactOkayCoinWilliam MillerOkayCoinwilliam@okaycoin.comThis article was originally published on Chainwire More

RIZE, Web 3’s first Liquidity Diffusion Network (LDN) came out of stealth today, aims to provide competitive and returns on single-click strategies. On launch, the platform’s yields sit at 21% APY on stablecoins and over 9% APY on ETH.Initially only available via early access codes, RIZE aims to help users earn yields from emerging blockchains with the click of a button. The complexities of picking blockchains, bridges, wallets, and dApps are abstracted away from users in a simple interface on Ethereum mainnet.The RIZE team arrives on the market with leading partners and backers. The team comes from Momentum Labs, which is backed by leading investors like Jump, Circle, and Coinbase (NASDAQ:COIN) Ventures, and their early access partners include bluechip communities like Pudgy Penguins, Doodles, and Azuki’s Spirit DAO.RIZE also partners closely with emerging blockchains, whose tokens serve as the main sources of the platform’s yield. Users can check out RIZE’s launch Tweet and get an early access code from one of their partner communities or the RIZE Discord.About RIZERIZE partners with emerging blockchains to bring you the industry’s best earning opportunities with the click of a button. As Web 3’s first Liquidity Diffusion Network (LDN), RIZE seeks to secure competitive and stable yields by actively moving liquidity between blockchains.More information on RIZE can be found at: Official Website | X (Twitter)| Discord | LinktrContactJacob Lawlessjl@rizefi.comThis article was originally published on Chainwire More

Galxe, web3’s largest onchain distribution platform, announced today the upcoming launch of Gravity, a Layer 1 omnichain smart contract platform designed to transform how users and developers interact with web3. Over the past three years, Galxe’s user base and transaction volume have grown exponentially, highlighting the need for more efficient, scalable, and secure solutions to manage complex cross-chain interactions with minimal friction. Existing solutions fell short in supporting the required complexity and scale, prompting Galxe to develop Gravity. Gravity addresses these challenges, offering an integrated and streamlined experience for both developers and users.Introducing GravityGravity is an omnichain settlement layer built for mass adoption and full-chain abstraction. Its approach abstracts the technical complexities of chain interactions, integrating advanced technologies like Zero-Knowledge Proofs and state-of-the-art consensus mechanisms to ensure high performance, enhanced security, and cost efficiency.Upon launch, Gravity will be seamlessly integrated within Galxe’s existing suite of products—Quest, Compass, Passport, Score, Alva, and the Galxe Identity Protocol. Set to support 100 million transactions per month—three times that of Ethereum—Gravity offers a seamless solution for web3 interactions. This integration allows developers immediate access to a vast user base, boosting their ability to attract and retain users. Gravity also simplifies multi-chain asset management, cross-chain transaction settlements, and user-friendly transaction processes without exposing users to underlying complexities.Galxe announces the rollout of Gravity in two key phases. The Gravity Alpha Mainnet, powered by the Arbitrum Nitro stack, will go live in June 2024. The launch of the Alpha Mainnet demonstrates Galxe’s commitment to the highest standards, testing cross-chain settlement in a transparent production environment using a public ledger instead of a centralized backend. In Q2 2025, the Gravity Mainnet will launch, featuring a restaking-powered PoS Layer 1 blockchain with Reth as its EVM execution engine. Stay tuned for the Alpha Mainnet launch in June and more updates as the Gravity rollout progresses.For more information, users can visit gravity.xyz. About Galxe Galxe is a decentralized super app and web3’s largest onchain distribution platform, empowering seamless web3 experiences through AI, digital identity, and blockchain technologies. Through its robust infrastructure and product suite — Quest, Passport, Score, Compass, and Alva — Galxe offers advanced tools and self-sovereign digital identity management to empower users to explore Web3 effortlessly.The recent introduction of Gravity, a Layer-1 blockchain designed for omnichain experience and full-chain abstraction, enables developers to tap into Galxe’s 20 million users and create new products that help onboard the world to web3. ContactAna Lezamaana@serotonin.coThis article was originally published on Chainwire More

NEW YORK (Reuters) -Bankrupt crypto lender Genesis and crypto exchange Gemini have returned over $2 billion in crypto to 232,000 retail customers in their jointly managed Gemini Earn program, giving customers a 242% return on assets locked up since January 2023, Gemini said on Wednesday. Unlike other crypto companies that went bankrupt after a 2022 market crash, Genesis was able to return customers’ crypto to them rather than liquidating a limited pool of assets and paying them back in cash. Customers who loaned one bitcoin to Genesis will get one bitcoin back, benefiting from the coin’s dramatic price increase since the date the company went bankrupt, Gemini said. The price of Bitcoin has more than tripled since January 2023, rising to over $67,000.”We are thrilled to have been able to achieve this recovery for our customers,” Gemini co-founder Cameron Winklevoss said in a statement. “We recognize the hardship caused by this lengthy process and appreciate our customers’ continued support and patience throughout.”Gemini customers will receive about 97% of the repayment immediately and the remainder within 12 months.Genesis had previously estimated that its customers, including larger investors that were not part of the Earn program, would receive a 77% recovery in the bankruptcy.”We didn’t cap their claims at the petition date value,” Genesis attorney Sean O’Neal said Wednesday. “Now we need to focus on making distributions to Genesis’s remaining creditors.”Gemini customers who participated in the Gemini Earn program loaned their crypto to Genesis and were paid interest on their loaned assets. The total value of the Gemini Earn assets was $940 million when Genesis froze customer accounts in November 2022, Gemini said. New York Attorney General Letitia James has alleged that the Gemini Earn program was a “scam” that misled investors, and she has sued Genesis, Gemini and Genesis’s parent company Digital Currency Group over the program. James reached a settlement with Genesis in February that required Genesis to repay Earn customers before other creditors, including New York state and Digital Currency Group. “When investors suffer losses because of fraud and manipulation, they deserve to be made whole,” James said in a statement. DCG had argued that Genesis’s customers should be repaid based on what the crypto assets were worth in January 2023. Under that argument, which a judge overruled on May 17, DCG could have taken the “excess” value from the rise in crypto prices, rather than returning it to Genesis customers. James’ lawsuit disrupted Genesis’s efforts to re-start its business, pushing the company to pivot instead to a bankruptcy liquidation. More

Centrifuge, the platform for tokenized real-world assets onchain, today announced Credbull as the latest asset manager to tokenize and launch a private credit fund on Centrifuge. Credbull will be available to investors in the Plume ecosystem.Plume announced an initial allocation of $10M in the private credit fund. The investment comes from Plume’s network of offchain institutional investors. In a time when tokenized treasuries are capturing crypto investor mindshare and wallets, this development creates important momentum in enabling new investors to embrace the rapidly evolving real world asset class. Credbull provides a unique investment avenue with uncorrelated and yields, allocating capital to established SME originators in an overall capital preservation strategy. Operated within a licensed framework, Credbull prioritizes investor protection and transparency, ensuring clear oversight of capital deployment and fund performance as part of its commitment to decentralization.“We’re excited to collaborate with Plume and Centrifuge to realize our collective vision of advancing the evolution of real-world assets. By providing investors with a broader set of non-correlated and diversified DeFi solutions, we will drive greater access to private credit yield products, real-time transparency and broader market liquidity,” said Jason Dehni, co-founder & CEO of Credbull.Plume is a liquidity provider and modular layer 2 blockchain that facilitates the investment and trading of high-quality real-world assets. Plume creates a cost-effective and secure ecosystem for RWAs, composable tokens, and increased liquidity for all tokenized RWAs. “Plume was purpose-built to support institutional adoption of the real-world asset industry. We’re focused on creating a seamless onboarding process for users to onramp into the ecosystem and boost liquidity for all RWAs. Centrifuge streamlines the process of launching onchain funds and Credbull brings a high-quality, high-demand new asset class to the ecosystem,” said Chris Yin, CEO of Plume Network.After launching its onchain fund management platform in March, Centrifuge continues to onboard credit funds to public blockchains. Centrifuge serves as a gateway to onchain liquidity, while creating a first-class experience thanks to its comprehensive and intuitive fund management platform.”We’re excited to welcome Credbull as the latest asset manager to tokenize their fund on Centrifuge; streamlining back-office operations, increasing transparency and accessing liquidity directly on Plume,” said Centrifuge Co-founder, Lucas Vogelsang.This news follows consistent TVL growth by Anemoy, a web3 native asset manager, in their funds launched on Centrifuge.About CentrifugeFounded in 2017, Centrifuge, creates better technology for financial products. Centrifuge provides asset managers a way to tokenize, manage and distribute their funds onchain and investors better access to a diversified portfolio of high-quality tokenized assets.About CredbullFounded by a strong team of DeFi and TradFi veterans, Credbull recently launched DeFi’s first licensed on-chain private credit fund, offering unprecedented, chain-agnostic access to real world assets. The decentralized fund structure offers real-time transparency, risk management and all off-chain capital allocation. In addition, Credbull provides other diversified solutions such as Credbull Pro and Credbull Earn, helping institutional asset managers, crypto platforms and DAO treasuries enter the rapidly evolving RWA space.About Plume NetworkPlume is the first modular L2 blockchain dedicated for all real-world assets (RWAs) that integrates asset tokenization and compliance providers directly into the chain. Our mission is to simplify the convoluted processes of RWA project deployment and offer investors a blockchain ecosystem to cross-pollinate and invest in various RWAs. In addition, Plume enables RWA composability through its thriving DeFi applications and provides access to high-quality buyers to increase liquidity for all tokenized RWAs.For media inquiries, users can contact Tiffany Lung at tiffany(at)plumenetwork(dot)xyz.ContactsCEOChris YinPlume Networkchris@plumenetwork.xyzCMOTiffany LungPlume Networktiffany@plumenetwork.xyzThis article was originally published on Chainwire More

This article was originally published on U.Today More