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Mantra OM Token Burn Proposal Details Revealed In a bold move to recover from a recent 90% price crash, Mantra is proposing to burn up to 300 million OM tokens, which represents 16.5% of its total supply, valued at approximately $160 million. This strategic decision aims to enhance staking rewards and restore investor confidence amidst…
Bitcoin Solidifies Its Role as a Safe-Haven Asset in 2023 Bitcoin (BTC) continues to showcase its strength, holding steady above $88,000 as market uncertainties push investors towards safe-haven assets. Amid tariff concerns and shifts in U.S. Federal Reserve leadership, BTC’s recent gains signal a compelling rise in its appeal as a digital gold. Background and…
Galaxy Digital Makes Bold Move, Swapping $100M in ETH for SOL In a surprising shift, Mike Novogratz’s Galaxy Digital has swapped over $100 million worth of ether (ETH) for Solana’s SOL, highlighting a potential trend as ETH experiences a noted decline. Reports indicate that 65,600 ETH were transferred to Binance in exchange for 752,240 SOL,…
Judge Moves Binance Money Laundering Case to Florida In a pivotal ruling, US District Judge Barbara Rothstein has approved Binance’s request to transfer a money laundering lawsuit, citing similarities with an existing case in Florida. This decision aims to enhance judicial efficiency and prevent duplicative legal proceedings, as both cases address allegations of Binance’s involvement…
Record Daily Bitcoin ETF Inflows Soar in April 2023 Daily inflows into US-listed Bitcoin exchange-traded funds surged to a remarkable $381.3 million on April 21, marking the highest single-day inflow since January, as investor enthusiasm in the crypto markets remained strong over the Easter weekend. Background and Context The recent surge in the cryptocurrency market…
Delayed Settlement Agreement Between CFTC and KuCoin Unfolds A planned settlement between the US Commodity Futures Trading Commission (CFTC) and crypto exchange KuCoin is facing delays due to a policy shift, leaving the exchange in limbo amidst ongoing regulatory changes. The CFTC has requested more time to finalize the deal, signaling uncertain timelines for resolution….
Metaplex NFT Unclaimed Funds Controversy Sparks Potential Lawsuit Burwick Law has raised alarms over Metaplex’s controversial decision to transfer unclaimed SOL funds to its DAO treasury rather than returning them to NFT holders, warning that the platform could face litigation if it proceeds with this plan. Background and Context The ongoing Metaplex NFT unclaimed funds…
Gibraltar Court Rules to Unfreeze 542 Million PLAY Tokens In a landmark decision, the Supreme Court of Gibraltar has overturned a previous freeze on nearly two-thirds of the circulating supply of PLAY tokens, citing insufficient evidence to maintain the action and potential harm to the token’s market value. Background and Context The recent Gibraltar court…
Impact of Interest Rates on Stock Markets: A Crucial Analysis As stock markets face a steep decline and the Dollar Index slips to a three-year low, President Trump escalates calls for lower interest rates, stirring uncertainty and tension in the financial landscape. Background and Context The recent news surrounding the impact of interest rates on…
WazirX User Compensation Plan and Operations Restart Pending a crucial court hearing on May 13, WazirX is set to restart its operations, offering a compensation plan for users affected by last year’s $234 million hack. The exchange’s parent company, Zettai PTE Ltd, awaits approval to implement its restructuring proposal and launch the compensation scheme, promising…
