Cryptocurrency

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Rekt Brands Inc. (Rekt), the parent company behind the Rektguy NFT project, Rekt Drinks, and the Rekt brand intellectual property, is excited to announce the completion of a $1.5 million seed funding round. Funded exclusively by angel investors and the community—without institutional venture capital—this achievement highlights the support Rekt received from its loyal and growing network.This funding announcement follows the debut of Rekt Drinks, Rekt’s first consumer product: a lime-flavored sparkling water with zero caffeine and zero alcohol, featuring the Rekt branding. Rekt Drinks made its debut last week with 222,456 units available across 32 countries. The entire stock sold out in under 48 hours, with demand in the U.S. alone resulting in a complete sell-out within just 4 hours and 20 minutes. This launch represents one of the largest real-world product sales by a Web3 brand, reinforcing Rekt’s potential as a cultural force in both digital and traditional markets.Rekt was founded from the success of the Rektguy NFT collection, created by artist Ovie Faruq (OSF) in May 2022. Since then, the Rektguy project has expanded into Rekt Brands, which oversees the Rekt IP and pioneered a unique industry model by offering equity in the parent company directly to its NFT holders, utilizing a Reg CF exemption under SEC guidelines in the U.S.About Rekt Rekt Brands Inc. is the parent company that owns the Rektguy NFT project, Rekt Drinks, and the Rekt brand intellectual property. Established from the success of the Rektguy NFT collection by artist Ovie Faruq (OSF), the brand has expanded into consumer goods and groundbreaking community equity models. Rekt aims to redefine brand ownership and engagement through its Web3 foundation, innovative products, and viral global community.ContactCEOOvie FaruqRekt Brands [email protected] article was originally published on Chainwire More

Known for his viral posts on Bitcoin, Saylor revealed today that MicroStrategy is not just a software maker but a real Bitcoin treasury company backed by BTC reserves. The entrepreneur proved his thesis with an argument in the form of a diagram that details the logic behind MicroStrategy’s Bitcoin strategy.As you can see, the essence of the scheme is that MicroStrategy, as a Bitcoin treasury, buys BTC on its balance sheet and, with these reserves, issues various securities, both leveraged and common. The securities include MSTR Options, MSTR ETFs, Spot Bitcoin ETFs and MSTR Convertible Shares, as well as MSTR Dividend and MSTR Fixed. According to the footnote, the latter two instruments do not yet exist, and it is not yet possible to describe exactly what they entail. However, it is clear that the company has plans to share its profits, which is confirmed by the chart. Undoubtedly, MicroStrategy’s case will go down in history as a company that literally rebuilt itself from nothing to become not only a major global software provider but also the first Bitcoin treasury company, as Michael Saylor described it.This article was originally published on U.Today More

Hyperbridge Launches on Polkadot with Support for Ethereum, Optimism, BNB Chain, and MoreHyperbridge, the highly anticipated blockchain interoperability protocol, has officially launched, unlocking new possibilities for seamless cross-chain communication. Following its $2.5 million seed funding led by the Web3 Foundation and Scytale Digital, Hyperbridge now brings its groundbreaking technology to users, delivering secure, scalable, and verifiable cross-chain solutions across multiple blockchains. Hyperbridge launches with native support for Ethereum, Optimism, Arbitrum, Base, BNB Chain, and Gnosis.The journey to Hyperbridge’s launch has been thorough, with the project completing two testnet cycles. During these cycles:At launch, Hyperbridge introduces a token bridge for asset transfers: Gateway, arbitrary message passing, and state queries across multiple ecosystems. Gateway offers:About HyperbridgeHyperbridge is a cryptoeconomic coprocessor for secure, verifiable interoperability powered by consensus and storage proofs. Hyperbridge is the HTTPS of blockchain interoperability, providing developers with onchain and off-chain SDKs for securely sending cross-chain messages (POST requests) and reading on-chain storage (GET requests).About Polytope LabsPolytope Labs is a collective of researchers and engineers founded by core developers of Ethereum, Polkadot, and IBC. We’re focused on addressing fundamental infrastructure problems that continue to hold back the crypto industry, such as interoperability, scalability, and privacy. We firmly believe that Web3 is the next evolutionary step of the internet, and we are fully committed to advancing truly decentralized technologies.About PolkadotPolkadot is the powerful, secure core of Web3, providing a shared foundation that unites some of the world’s most transformative apps and blockchains. Polkadot offers advanced modular architecture that allows devs to easily design and build their own specialized blockchain projects, pooled security that ensures the same high standard for secure block production across all connected chains and apps connected to it, and robust governance that ensures a transparent system where everyone has say in shaping the blockchain ecosystem for growth and sustainability. With Polkadot, users are not just participants, they’re co-creators with the power to shape its future.Contactcomms / PR managerJonathan [email protected] article was originally published on Chainwire More

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is excited to announce its latest collaboration with Aptos, the innovative blockchain network, to empower Web3 builders with an exclusive APT Ecosystem Airdrop. This partnership aims to fuel the next wave of Web3 projects by creating opportunities for users to dive deeper into decentralized applications, earn rewards, and support the growth of cutting-edge blockchain technologies.With 18,000 $APT tokens available, Bybit and Aptos are celebrating this airdrop as part of their shared mission to accelerate Web3 adoption and inspire a new generation of creators. Hosted on Bybit’s Airdrop Arcade, the campaign underscores Bybit’s dedication to delivering premier blockchain opportunities for its users and fostering the rise of decentralized ecosystems.The APT Ecosystem AirdropThrough Bybit’s Airdrop Arcade, users will gain access to an exclusive airdrop featuring contributions from Aptos and leading ecosystem partners, including @PanoraExchange, @Balance_Fun, @Merkle_Trade, @supervlabs, @AriesMarkets, @AmnisFinance, and @guiinuonaptos. This airdrop provides both new and experienced crypto enthusiasts with a chance to explore Aptos’s innovative blockchain features while potentially earning $APT rewards.Bybit and Aptos: A Partnership for the Future of Web3This strategic collaboration between Bybit and Aptos marks a pivotal step in making decentralized technology more accessible, secure, and engaging. By uniting Aptos’s high-performance blockchain with Bybit’s dynamic exchange platform, the partnership offers a seamless way for users to connect with and support Web3 innovations.#Bybit / #TheCryptoArk / #BybitWeb3About Bybit Web3Bybit Web3 is redefining openness in the decentralized world, creating a simpler, open, and equal ecosystem for everyone. We are committed to welcoming builders, creators, and partners in the blockchain space, extending an invitation to both crypto enthusiasts and the curious, with a community of over 130 million wallet addresses across over 30 major ecosystem partners, and counting. Bybit Web3 provides a comprehensive suite of Web3 products designed to make accessing, swapping, collecting and growing Web3 assets as open and simple as possible. Our wallets, marketplaces and platforms are all backed by the security and expertise that define Bybit as the world’s second-largest cryptocurrency exchange by trading volume, trusted by over 50 million users globally.For more details about Bybit Web3, users can visit Bybit Web3.ContactHead of PRTony [email protected] article was originally published on Chainwire More

BTC.com officially announced the completion of its upgrade and the launch of an open-source computing power platform. The platform continues to embody the community spirit and adopts the motto “Embrace Open Source, Gather Computing Power, Create the Future Together” to support developers and computing power providers in jointly promoting the development of a decentralized ecosystem.The platform will serve as a bridge for computing power suppliers, enabling them to achieve efficient management and flexible trading through its one-click deployment tools. Additionally, it will provide a free trading environment for those in need of computing power, allowing on-demand access to achieve a balance between cost and efficiency.About BTC.comBTC.com is committed to connecting computing power for open-source projects, providing infrastructure for the development of the blockchain and AI industries, and promoting the flourishing growth of industry applications.ContactPR [email protected] article was originally published on Chainwire More

While the market is closely watching for regulatory changes after the U.S. presidential election, it faces challenges, including geopolitical tensions like the Israel-Iran conflict and allegations against Tether.According to Binance Research, Bitcoin’s correlation with the S&P 500 is approaching record levels as investors are increasingly treating the primary cryptocurrency as both a risk-on asset and a hedge against economic uncertainties. Historically, Bitcoin’s relationship with equities has been weak, with only temporary spikes due to liquidity adjustments or interest rate shifts. Other highlights show that out of the top 15 revenue-generating chains and applications, 13 are applications, indicating that much of the industry’s revenue is driven by specific applications rather than the blockchain networks themselves. Binance Research suggests that Solana has become the primary blockchain for new token launches, fueled by the launchpad platform pump.fun, which lowered entry barriers for token creation. The trend, however, sparked a wave of speculative trading, with Solana handling 90.6% of all token launches in the week leading up to October 21. October saw a rise in memecoin activity, with four of the top five performing tokens being memecoins. Memecoin trading volume has also climbed, hitting around 12% of the top 50 altcoins’ market cap on average—and even breaking past 20% on some days. Since February, daily trading for memecoins hovered around $5 billion.“Dogecoin topped the list, jumping 33.1% following a reference to the “Department of Government Efficiency” (D.O.G.E) by Elon Musk at a rally,” said Binance Research analysts. “Solana saw a 9.7% increase, spurred by high trading volumes in memecoins and growth in decentralized finance (DeFi) on the Solana network.”Meanwhile, Toncoin fell by 16.9% amid concerns over privacy following Telegram’s policy changes and CEO Pavel Durov’s legal challenges. Ripple’s XRP also dropped 20.4% amid its ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC). “Tron also recorded gains, up 7.5%, while Binance Coin declined by 2.9% following the exchange’s announcement of a November deadline for the BNB Beacon Chain upgrade. Ethereum (ETH) fell 3.7%, as concerns over high fees and the rise of independent appchains affected investor sentiment,” the report said.According to the Binance calculations, DeFi’s Total Value Locked (TVL) saw a small bump of 1.0%, riding the wave of October’s on-chain momentum. Binance analysts point to growing interest from both institutions and regular users, especially for Solana, which hit $7.6 billion in DeFi TVL. Liquid staking protocols like Jito, Marinade, and Sanctum grabbed a big share of this inflow, while projects like Jupiter and Raydium added essential liquidity to match rising on-chain activity.  More

While almost 99% of traders are in profit at the moment, CryptoQuant hinted that the price is close to investors’ purchase costs. This, it noted, is proof that the price is not overheated. With the technical indicators showing the potential for another rally, the question remains whether the growth will follow a linear trend.At the time of writing, the Bitcoin price was changing hands for $75,098.68, up by 2.67% in the past 24 hours. Its trading volume has, however, dropped by 17% within the same period to $77.99 billion, proof of tempered sentiment.Shiba Inu (SHIB) also took advantage of this rally to extend its gains after prolonged consolidation moves. The token saw a record boost in price and other metrics like burn rate and Shibarium transaction count. This helped it topple Avalanche (AVAX) again as the 12th largest digital currency.This article was originally published on U.Today More