Bybit is shutting down more of its Web3 services after axing its non-fungible token (NFT) marketplace earlier in April. According to an April 16 announcement, the exchange is shutting down its Cloud Wallet (a hosted custodial wallet), Keyless Wallet (non‑custodial multiparty computation wallet with no seed phrase), NFT marketplace, multi‑chain decentralized exchange (DEX) DEX Pro and […]
Category Archives: Crepto News
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Mantra’s recent token collapse highlights an issue within the crypto industry of fluctuating weekend liquidity levels creating additional downside volatility, which may have exacerbated the token’s crash. The Mantra (OM) token’s price collapsed by over 90% on Sunday, April 13, from roughly $6.30 to below $0.50, triggering market manipulation allegations among disillusioned investors, Cointelegraph reported. […]
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Solana (SOL) has seen a remarkable price surge over the last 10 days, climbing 40% from its April 7 low of $95 to around $133 on April 17. The altcoin is up 8% over the last 24 hours. Its daily trading volume has jumped by 41% over the same period to $4.64 billion, reinforcing the […]
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Cryptocurrency exchange Binance is involved in discussions on establishing strategic digital asset reserves with several countries, its CEO, Richard Teng, reportedly said. Binance has been advising multiple governments on establishing strategic Bitcoin (BTC) reserves and formulating crypto asset regulations, Teng said in an interview with the Financial Times on April 17. “We have actually received […]
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A Russian finance ministry official has reportedly said the country should be developing its own stablecoin after a recent freeze on wallets linked to the sanctioned Russian exchange Garantex by US authorities and stablecoin issuer Tether. Deputy director of Russia’s Finance Ministry’s financial policy department, Osman Kabaloev, said the Kremlin should be exploring the possibility […]
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The firm behind the Solana-based automated market maker (AMM) Raydium has launched its memecoin-making protocol, LaunchLab, which looks to compete with Pump.fun. The arrival of LaunchLab on April 16 comes a month after Pump.fun, previously a key contributor to Raydium’s revenue, severed ties with the firm by moving its token migration from Raydium’s liquidity pools […]
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Despite recent major developments in the crypto industry, the market has just posted its weakest Q1 performance in years — but a crypto analyst is pointing to several catalysts that could make Q2 more promising. “Frustrating. That’s the best word to describe the past quarter,” Bitwise chief investment officer Matt Hougan said in a recent […]
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Michael Novogratz’s Galaxy Ventures Fund I LP is expected to raise around $175 million to $180 million by the end of June to build a portfolio of 30 crypto and blockchain startups. According to an April 17 Bloomberg report citing people familiar with the matter, the fund — which has had a focus on payments […]
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Quantum computing research firm Project Eleven has launched a competition to see just how much of a threat quantum computing currently poses to Bitcoin. Launching the competition on April 16, Project Eleven said it is offering 1 Bitcoin (BTC) to whoever cracks the biggest chunk of a Bitcoin key using a quantum computer within the […]
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Stablecoins rose to popularity as a result of limitations in the US financial system — particularly restricted banking hours and the lack of a non-USD trading pair, according to Jerald David, president of Arca Labs. “So we start thinking about the reason why, we start talking about the nine-to-five banking hours,” David said during a […]