Turnkey, founded by ex-Coinbase Custody developers, secured $15M in Series A funding to enhance crypto wallet infrastructure, with key investments from Lightspeed Faction, Galaxy Ventures, and others, aiming for product expansion and scaling..
HeLa Labs has launched the Atlantia testnet, a pioneering modular Level 1 blockchain designed to foster a dynamic ecosystem through community engagement, offering enhanced functionality, security, and potential rewards for participants, while preparing for a future mainnet launch..
By 2024, the Middle East is anticipated to experience a significant upsurge in cryptocurrency engagement, with daily crypto traders projected to reach 700,000. Spearheading this growth is the UAE, showcasing a remarkable 72% of users investing in Bitcoin, indicating a strong preference for the pioneering cryptocurrency. Despite the emergence of local platforms, global crypto exchanges continue to dominate the market, underscoring the minimal demand for regional tokens. A key factor fueling this trend is the favorable regulatory landscape and the approval of Bitcoin ETFs, which are enhancing the attractiveness of digital assets in the region. Additionally, Trust Wallet, MetaMask, Phantom,… Read More »Bitget Report Reveals Cryptocurrency Adoption Surge in the Middle East – Hodl.Press – digest
Over 40% of Solana projects ceased development post-presale, raising concerns about the ecosystem’s integrity. An analysis by ZachXBT found 12 projects linked to fraud, amassing around $26.7 million. High-profile memecoins LIKE and MOONKE suffered massive value drops, highlighting the speculative risks within Solana. The trend reflects a shift away from speculative assets towards more viable projects, urging enhanced due diligence and transparency to protect investors and improve the ecosystem’s sustainability..
John Deaton, pro-XRP lawyer and Senate candidate, filed an amicus brief supporting Coinbase against the SEC’s lawsuit, which accuses the exchange of selling unregistered securities. Backed by prominent crypto figures, Deaton’s action highlights the growing tension between cryptocurrency operations and U.S. regulatory frameworks. This legal battle is pivotal, potentially setting precedents for crypto regulation and reflecting broader concerns about innovation and access in the digital asset space. Deaton’s Senate campaign, supported by key industry players, underlines his role as a potential regulatory ally for the crypto community..
ZKasino, a decentralized gambling platform, has drawn scrutiny for halting user withdrawals after amassing over $32 million (10,515 ETH), leading to allegations of fraud. The funds were moved and liquid staked with Lido Finance, causing significant community backlash. Key platforms, including MEXC and Ape Terminal, reacted by canceling ZKasino’s token listing and IDO, promising refunds. This controversy underscores the risks within the DeFi sector, spotlighting the need for enhanced due diligence, transparency, and robust security measures to protect users against fraudulent activities..
On April 19, 2024, Bitcoin ETFs saw a net inflow of $59.56 million, with Fidelity’s Bitcoin Spot ETF leading by adding $54.77 million, reaching $8.14 billion in assets. Conversely, Grayscale and VanEck faced outflows of $45.82 million and $1.82 million, respectively. These shifts occurred right before the Bitcoin network’s Halving event, suggesting investors are positioning for potential market changes. Fidelity’s gain and Grayscale’s loss highlight changing investor preferences amid anticipation of the halving’s impact on Bitcoin’s value..
