A Montenegrin court agreed to release detained Terraform Lab | Odaily星球日报 on Binance Square

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Odaily星球日报

12 May 2023

A Montenegrin court agreed to release detained Terraform Labs co-founder Do Kwon and his former chief financial officer Han Chong-joon on 400,000 euros ($436,000) in bail for each man.#Terraform #TerraformLabs #crypto #crypto2023 

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The highly anticipated launch of the Wyoming stablecoin might happen in the early phase of this year’s second half. Mark Gordon, the Governor of Wyoming, confirmed this during a speech at the DC Blockchain Summit. He said the Wyoming stablecoin (WYST) might go live in July following a rigorous testing phase across seven blockchains. They include Solana, Ethereum, Avalanche, Polygon, Optimism, Arbitrum, and Base. Once they finalize testing, WYST might launch on the mainnet version of the aforementioned blockchains in the coming months. With Gordon announcing the potential launch date of WYST, the Wyoming Stable Token Commission unveiled LayerZero as the stablecoin’s development and distribution partner. The governor referred to WYST as the first fiat-backed stablecoin from a public entity in the U.S. WYST’s launch could set a precedent for other U.S. states that might be eyeing a similar move. Wyoming Stablecoin Initiative Wyoming first proposed the stablecoin in February 2022 through a state-backed bill, the Wyoming Stable Token Act. Interestingly, the state’s Senate supported the bill’s passage, which was later signed into law in March 2023. Afterward, Wyoming recruited top executives and officers to develop the stablecoin, with Gordon suggesting a potential launch window of Q1 2025. Notably, the state was only able to roll out the test version of the stablecoin on seven blockchains in the first quarter of the year. It expects the mainnet launch to happen by July 2025. WYST Features WYST is a stablecoin pegged to the U.S. dollar at a 1:1 ratio. It will be backed by cash equivalents, repurchase agreements, and U.S. Treasuries upon its launch. Anthony Apollo, the Executive Director of the Wyoming Stable Token Commission, expects WYST to enable users to facilitate near-instant transactions with relatively low fees. #CryptoNews🚀🔥V

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An unknown #shiba⚡ Inu investor who burned 1 billion SHIB earlier this week has incinerated another 1 billion tokens, bringing their total monthly burns to 3 billion. As usual, popular community-driven burn tracker Shibburn indexed the latest transaction, which occurred today at 01:32 a.m. (UTC). The individual or group behind the blockchain wallet, ‘0x55B…182E3’, moved 1 billion SHIB to the official dead wallet in one transaction, permanently removing the tokens from circulation. Notably, the dollar equivalent of these 1 billion SHIB is $14,400 at the current exchange rate of $0.00001444 per token. Not New This transaction comes days after the same address transferred 1 billion SHIB to the dead wallet on March 23. With this latest burn, the wallet has incinerated a whopping 2 billion SHIB within three days. It bears mentioning that the wallet has been actively involved in reducing SHIB’s supply through burns. On March 15, it sent 1 another billion SHIB to the dead wallet in one transaction. This implies that the user has now burned 3 billion SHIB in March alone. Besides its recent burns, the address also set ablaze nearly 2 billion SHIB last year in two transactions—1 billion tokens in August 2024 and 700 million burned in February 2024. However, despite the impressive contributions, no individual or project has stepped up to claim responsibility at press time. Following the latest incineration exercise, the address has a zero SHIB balance. It also has an overall crypto balance of around $40, indicating that the address will not conduct any major SHIB burn any time soon until it receives funding from external sources. #CryptoNewss

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"Dogecoin Rally Incoming! Can It Smash $0.20 and Soar to $0.31? Bulls Are Ready!"

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#Bitcoin ETFs, which once fueled significant optimism in the crypto market, are now at a crossroads. According to CryptoQuant, institutional investors are reshuffling and reducing their exposure to the crypto market due to macroeconomic uncertainty. This transition has resulted in a sharp reversal of Bitcoin ETF inflows over the past few weeks. In particular, CryptoQuant cited a nearly $5 billion drawdown, representing a major 12% dip in inflows from the all-time high figures. This bearish turn of events has coincided with a weakening of Bitcoin’s price momentum, with the asset currently trading around $87,000. Institutional Appetite Stalls After a Strong Start to 2025 The trend in ETF flows highlights the changing market sentiment. In 2024, Bitcoin ETFs accumulated over $30 billion in inflows. Asset managers like BlackRock and Fidelity led the charge, even setting historic records for the global ETF market. The momentum spilled over into 2025, with the earlier parts of the year starting strong. However, the inflows have since stalled and reversed, with investors becoming more cautious. This shift marks a departure from the steady accumulation phase seen last year. Notably, the reversal comes amid dipping prices in the spot market. Inflows were high in the first weeks of this year when Bitcoin traded above the $100K level and even approached $110K. The market has since corrected. Following a subsequent dip to $76K, the ETF market has mirrored this decline. ETF Net Flows Stabilizing Amid Choppy Market Conditions Meanwhile, despite the recent outflows, the market appears to be stabilizing. Daily ETF net flows are neither strongly positive nor negative, suggesting a temporary equilibrium between demand and supply. CryptoQuant describes the current state of ETF flows as “choppy.” For context, U.S. Bitcoin spot ETFs have registered nine consecutive trading days of positive flows. Notably, most of the inflows have been from BlackRock’s iShares Bitcoin Trust, which often stands as the sole buyer of Bitcoin on some days. #CryptoNewsCommunity

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