The shutdown of the Republic First Bank of Philadelphia by the federal regulator has entered history as the first setback experienced by the US banking sector in 2024. 

The Pennsylvania Department of Banking and Securities stepped in and seized the bank on April 26. Federal Deposit Insurance Corporation (FDIC) will be managing nearly all of the bank’s $4 billion in deposits and its $6 billion in total assets. 

After the closure, the 32 branches of the Republic First Bank in New Jersey, Pennsylvania, and New York reopened as branches of Fulton Bank starting on April 27. With the interest rates going up and the commercial real estate market being a bit unpredictable, this transformation is part of a bigger plan to make the regional bank more stable.

Failure of traditional banks a wake-up call to crypto assets?

The failure of the Philadelphia based bank has caused quite a stir not only in the banking community but also in the cryptocurrency world. 

Crypto enthusiasts, Marius Martocsan, the CEO of Zesh,  Pillage Capital, a crypto trader and, Crypto commentator Randi Hipper shared the same thoughts about the current situation and their sentiments is gearing people to see the bank’s failure as a big opportunity for digital currencies.

It’s quite interesting to note the timing of the Philadelphia-based bank collapse, as other regional lenders like Silicon Valley Bank, Silvergate Bank, had also struggled with similar challenges in the past which has put the struggles of the sector on a spotlight. It is said to believe that the pandemic has had a significant impact, causing commercial real estate vacancy rates to rise and making loan refinancing more difficult. 

Will Bank failure spark crypto surge?

While it has been a tough time for the banking industry, the cryptocurrency market has given a mixed reaction after the disclosure of the event. 

According to CoinMarketCap, Bitcoin dipped by 1.16%, trading at $62,715, and Ethereum dropped by 0.58%, trading at $3,095. Altcoins like Dogecoin and Solana experienced slightly steeper declines, with decreases of 2.88% and 1.79% respectively.

This bank failure is a big test for the FDIC’s insurance fund, costing $667 million. It highlights vulnerabilities in certain sectors of the banking industry. Also, FDIC’s quick response and acquisition by Fulton Bank show a strong regulatory framework. Some in the crypto community think repeated failures in traditional banking could drive interest in cryptocurrencies.

The post Crypto Community Buzzes as US Government Seizes Republic First Bank appeared first on Latest News and Insights on Blockchain, Cryptocurrency, and Investing.

The Taipei District Prosecutor’s Office apprehended 32 culprits involved in fraud and money laundering connected to the ACE Exchange, a cryptocurrency trading platform, on Friday. 

The authorities took a proactive step to ensure crypto thrives in the country by appointing the Financial Supervisory Commission (FSC), its top financial regulator as the main body responsible for overseeing crypto activities and the growing industry in the region.

In 2023, ACE Exchange joined forces with other major exchanges in Taiwan to help introduce the framework for the digital assets platform. The Asian country took strong measures in 2022 to safeguard consumers by tightening regulations on the use of credit and debit cards for purchasing digital currencies.

Ace Exchange lured investors with irresistible incentives 

Among the fraudsters charged were ACE Exchange Founder, Dan Pan, his business associate; Lin Keng-hong, and Wang Chen-huan, a well-known lawyer who held the position of chairman at the exchange. While promoting ACE Exchange, Pan and Lin expressed their vision of transforming it into the most comprehensive blockchain ecosystem for cryptocurrency trading in Asia. 

The suspects started scheming in 2019 by persuading investors to buy tokens associated with the trading platform like NFTC tokens, bitnature coins, and other tokens. To make these investments seem legitimate, the accused individuals reportedly created white papers and other supporting materials, according to prosecutors.

Unfortunately, many investors experienced a significant decline in the value of their tokens. This was, however, disheartening to the investors as they were promised great incentives and irresistible offers. 

Investors saw through the facade 

Using various media for advertising channels, the prosecutors revealed that the suspects were able to attract many investors by engaging in price manipulation on their platform. 

Investors eventually saw the truth behind the smoke and mirrors when they were unable to convert their tokens back to New Taiwan dollars as promised. This prompted them to file complaints, seeking a judicial investigation against the suspects.

The suspects allegedly sold tokens and other blockchain products, accumulating proceeds of at least NT$2.2 billion or $67.47 million. Additionally, they instructed others to hide cash in different locations, even purchasing real estate in Yilan County.

Consequences as action came back to haunt

According to the prosecutors, it was reckoned that around 1,200 people were swindled out of approximately NT$800 million ($24.56 million). According to the local news, it was reported that around NT$43 million was transferred to Wang, who then injected NT$26 million back into the exchange to boost prices.

Based on the magnitude of the losses, the prosecutors suggested prison terms of at least 20 years for the four main suspects, including Pan and Lin. Minimum of 12 years was proposed for Wang, taking into account his position as a director of a renowned law firm and his alleged significant involvement in facilitating the scheme.

The post ACE Exchange Scandal: Fraudsters Unmasked in Crypto Con appeared first on Latest News and Insights on Blockchain, Cryptocurrency, and Investing.

Franklin Templeton, an American multinational holding company, has unveiled its Ethereum exchange-traded fund (ETF), known as the “Franklin Ethereum TR Ethereum ETF” with the code EZET. The Depository Trust and Clearing Corporation (DTCC), a prominent platform for securities transactions in the United States enumerated EZET on its website’s updated list.

Does the Listing Mean Approval?

Although the listing is significant, it does not guarantee automatic confirmatory approval from the United States Securities and Exchange Commission (SEC). It is customary for the DTCC website to list securities eligible for trading and settlement within its systems, which can include ETFs that have completed certain registration or compliance processes.

The final approval status for an ETF filing solely rests on the SEC as the final authority. In any case, the Franklin Ethereum spot ETF’s presence on the DTCC website indicates its availability for creation and redemption, an essential feature for ETFs that enables adjusting the supply of ETF shares to meet demand.

Franklin Templeton, with around $1.5 trillion in assets under management (AUM), filed for the Spot Ethereum ETF in February, about a month after the approval of the Spot Bitcoin ETF. It remains on the waiting list of the SEC for approval.

SEC Approval and Timeline Extension

Based on the S-1 filing to the SEC, Franklin Templeton, if approved, the ETF would be listed on the Chicago Board Options Exchange (Cboe).

The SEC, however, postponed its potential decision on Franklin Templeton’s Ethereum spot ETF application. The postponement on April 23 is to allow the SEC to review the proposed rule change for listing and trading Franklin Ethereum Trust shares on the Cboe BZX Exchange.

 With this extended review period, the SEC has until June 11 for a decision, providing an additional 45 days to evaluate the application. Hong Kong’s regulatory body in contrast did not foot drag as it gave green light to Spot Bitcoin ETF and Ethereum ETF recently.

Franklin Templeton Joins Industry Giants

The launch of Franklin Templeton’s Ethereum spot ETF aligns the asset management firm with other industry leaders such as BlackRock, Grayscale, VanEck, and ARK Invest. These industry giants have also entered the race to offer Ethereum-based funds.

While the market for Ethereum-based ETFs is increasing, the approval process for Ethereum ETFs is complex and differs from that of Bitcoin ETFs.

Bloomberg ETF analyst Eric Balchunas estimates the likelihood of the SEC approving a spot Ether ETF at around 35% in May. He hinges it on the SEC’s more conservative stance compared to its approach to Bitcoin ETFs. Another analyst, Walter Bloomberg aligns with Balchunas as he anticipates SEC is likely to deny approval.

The post Franklin Templeton Debuts Ethereum ETF on DTCC, SEC Approval Pending appeared first on Latest News and Insights on Blockchain, Cryptocurrency, and Investing.

Early investment in good fundamental companies and cryptos always pays handsome returns. That is exactly what Tron and Uniswap traders and investors are trying to do. They are behind Pushd, a new decentralized e-commerce platform that, according to analysts, has a great fundamental potential to bring changes in the e-commerce industry and become a leader.

Recent market corrections have impacted the whole crypto community and Tron and Uniswap investors are actively participating in Pushd’s presale. According to recent news, some Tron and Uniswap whales participated in Pushd’s stage 6 presale.

Tron April 2024 Performance 

April has been a rollercoaster ride for Tron investors. To date this month, it is already down 8.28%. The price opened at $0.124 and is currently trading at $0.112. The price is taking support from the 10-day moving average in the monthly timeframe, which is a good short-term indicator. However, the overall market direction will tell the direction of Tron.

The RSI is standing at 43.06 indicating neutrality between buyers and sellers. MACD is below the middle line is the impact of the recent correction; if the reversal occurs we might soon see these lines trading above the middle line.

Uniswap: One Of The Most Beaten Coins In The Correction

Uniswap is one of the coins that took a hit in the recent correction; from its high of $17.02, it is currently trading at $8.05, a decrease of 52.76%. This fall has various reasons, but the major reason is the feud between Uniswap and the SEC. There hasn’t been any update on the matter yet, but if the fight goes on, it will be bad for Tron investors. 

Investors don’t see any moves coming very soon amid the market correction and the fight with the SEC. Some investors have been part of the early rounds of the Pushd and some are participating now in the 6th stage.

Pushd: The Next Blue Chip Crypto?

Pushd, an e-commerce platform, has caught the eye of people worldwide. It’s also won the trust of both buyers and sellers eagerly waiting for its launch. Pushd is ready to give leading online marketplaces a run for their money.

Pushd, packed with real-world value, is crucial for project success. It’s a web3 digital marketplace that solves many global e-commerce problems. Pushd aims to outshine competitors in the $6 trillion industry by being cheaper, faster and simply better.

Investors can join the presale for just $0.144 per unit of Pushd in stage 6. It’s a great deal, considering Pushd is predicted to grow 75X in a year. With such a low price, even investors with small budgets can buy a significant amount of tokens. Besides the potential for big gains in the long run, early investors also get short-term rewards. Pushd shares its profits with presale investors and the more Pushd they have, the more they earn.

Find out more about the Pushd presale by visiting the website here.

The post Pushd’s E-Commerce Presale Mobilizes Tron and Uniswap Traders as Market Adjusts appeared first on Latest News and Insights on Blockchain, Cryptocurrency, and Investing.

Following the Bitcoin halving event, many top crypto coins navigate with fluctuations. Bitcoin Cash (BCH) and Jupiter (JUP) were among them. However, there was no significant impact on Borroe Finance ($ROE). That’s why experts deem $ROE as one of the top crypto investment choices ahead of BCH and JUP. Let’s find out more.

>>BUY $ROE TOKENS NOW<<

Bitcoin Cash Looks Price Surge

Hitting a 12-month high of $711 in early April 2024, Bitcoin Cash was a top crypto to invest in. However, Bitcoin Cash plunged with the much-anticipated BTC halving event. BCH dropped to $451, representing a 36.56% fall from the yearly high. 

This downtrend has exited 390,000 BCH investors since early April. In addition, this situation for Bitcoin Cash was quite alarming. However, BCH made a price rebound by climbing to $520 after the halving event. This has marked an impressive 15% jump for BCH since its low. 

The ongoing recovery rally was further signified by Bitcoin Cash flipping the 23.6% Fibonacci Retracement. From a technical perspective, the MVRV ratio indicated an accumulating signal for BCH. 

Experts are also bullish on Bitcoin Cash price prediction. If Bitcoin Cash gains momentum, with the high anticipation of a post-halving altcoin season, BCH will climb to $600 in the coming months.

Analysts Predict Further Gains For Jupiter

One of the top DeFi coins, Jupiter has been riding a bullish wave since early March 2024. This upward momentum led JUP to $1.83 in early April. The price of JUP was just 9.85% short of its previous peak value of $2.03. Following this, Jupiter started the downturn momentum with a market correction. 

JUP experienced a serious blow, dropping to $0.85 in mid-April. However, Jupiter made a strong bounceback by driving to $1.20. Amidst such reversal, JUP teased an uptrend momentum as it eyes for potential price recovery. 

The JUP’s price was pumped over 40% between the time frames. Talking about technical analysis, there has been a showcase of a bullish outlook. This was further justified by JUP’s MACD indicator as it shows a positive crossover. 

However, the RSI and Stochastic showed neutral territory for Jupiter. According to crypto news, if Jupiter surpasses $1.40 resistance, JUP will potentially target $1.95.

Borroe Finance: The Best Pick For Crypto Investment

If anyone’s wondering about a good crypto to buy, Borroe Finance ($ROE) is definitely a number one pick. Given its unprecedented heights, Borroe Finance has become one of the most viral token launches.

Most importantly, Borroe Finance is an AI-powered funding marketplace. Its platform helps Web3 players and businesses raise immediate capital and swiftly manage their cash flow operations. This allows them to mint their future earnings into NFTs and sell them at discounted rates.

With this unique value proposition, Borroe Finance has emerged as one of the promising cryptocurrencies. Not only that, it also draws the attention of investors with huge profitable journeys. $ROE is currently selling at $0.02 which is already 100% up from its beta stage price of $0.01.

Notably, $ROE is in the final stage of the presale. The preparation for the DEX (decentralized exchange) launch is taking a significant stride. However, there will be one last surge to $0.025 before the launch. The current investors can enjoy up to 25% ROI. So, buy $ROE now and cancel fear of missing out.

Learn more about Borroe Finance ($ROE) here:

Visit Borroe Finance Presale | Join The Telegram Group | Follow Borroe Finance on Twitter

The post Here Are The Top Crypto Investment Choices For Experts (BCH, JUP, $ROE) appeared first on Latest News and Insights on Blockchain, Cryptocurrency, and Investing.

John Deaton, a crypto lawyer currently running for Senate to unseat Elizabeth Warren, has filed a brief supporting Coinbase in its legal battle against the United States Securities and Exchange Commission (SEC).

In an April 26 filing in the U.S. District Court for the Southern District of New York, Deaton submitted an amicus brief on behalf of 4,701 Coinbase customers, pro bono, to represent their interests rather than Coinbase’s.

SEC is Interested in Damaging Coinbase

Deaton cited previous SEC enforcement actions, arguing that the regulator does not adequately represent digital asset users and investors and offers little regulatory guidance beyond citing the Howey case. 

He referenced the SEC’s civil cases against Debt Box, claiming the SEC was more interested in damaging crypto companies than upholding truth and justice, leading to a judge sanctioning the commission.

Additionally, on April 12, the Coinbase legal team took a strategic step in its ongoing legal battle with the SEC by filing a brief requesting permission to pursue an interlocutory appeal.

Successful Motion

While some linked Deaton’s actions to his ongoing Senate campaign, he initially positioned himself as a legal representative for Coinbase customers in June 2023, before announcing his campaign. An April 19 filing suggested that his motion to file an amicus brief was successful.

Deaton emphasized the importance of representing end-users of technology, stating that they should not let a biased and politically motivated agency speak for them. He clarified that this doesn’t mean Coinbase should speak for them either.

“Investment Contract”

According to Coinbase’s Chief Legal Officer, Paul Grewal, the interlocutory appeal questions whether the term “investment contract” requires contractual obligations after a sale, a key issue in the SEC’s case against the crypto exchange.

It’s uncertain how Deaton’s legal actions might affect his Senate campaign, given that the election is less than six months away. The candidates for the Massachusetts Senate seat, Deaton and Warren, hold significantly different views on digital assets. Warren recently signed a letter urging authorities to crack down on the use of cryptocurrency in payments for child sexual abuse material.

Coinbase and Crypto Sector

Notably, Kathryn Haun, a long-serving board member at Coinbase, announced her departure from the company later this year. 

This came at a time when the exchanges requested the United States District Court examine a key issue raised by the SEC in its lawsuit against the exchange.

The post Coinbase vs. SEC: Crypto Lawyer Files Amicus Brief appeared first on Latest News and Insights on Blockchain, Cryptocurrency, and Investing.

The Depository Trust and Clearing Corporation (DTCC), a major financial services giant, has made a significant decision regarding exchange-traded funds (ETFs) with exposure to Bitcoin or cryptocurrencies. Effective April 30, 2024, DTCC will implement changes to collateral values, resulting in a 100% reduction in collateral value for these ETFs.

The announcement, made on April 26, states that DTCC will not allocate any collateral to ETFs with Bitcoin or cryptocurrencies as underlying assets during its annual line-of-credit facility renewal. This decision could potentially impact position values in the Collateral Monitor.

DTCC and Bitcoin

However, it’s important to note, as clarified by cryptocurrency enthusiast K.O. Kryptowaluty in a post on X, that this change specifically applies to inter-entity settlement within the Line of Credit (LOC) system. The LOC system involves borrowing arrangements between financial institutions and individuals or entities, allowing the borrower to access funds up to a predetermined credit limit.

Kryptowaluty pointed out that despite DTCC’s decision, cryptocurrency ETFs can still be used for lending and as collateral in brokerage activities, depending on individual brokers’ risk tolerance.

DTCC Takes a Cautious Approach to Crypto ETFs

While DTCC’s stance represents a cautious approach to crypto ETFs, other traditional players have taken different routes. For instance, clients of Goldman Sachs have been reentering the crypto market this year, driven by renewed interest following the approval of spot Bitcoin exchange-traded funds.

The introduction of spot Bitcoin ETFs has sparked increased institutional interest in this investment product. Within just three months of their launch, all United States Bitcoin ETFs have accumulated over $12.5 billion in assets under management (AUM).

Inflows into ETFs Slow Down

However, after a strong initial launch, overall inflows into Bitcoin ETFs have recently slowed down. In the past few days, multiple ETF issuers have reported significant outflows from spot Bitcoin ETFs. According to data from Farside Investors, there was a net outflow of $218 million from spot Bitcoin ETFs in the U.S. on April 25, following a $120 million outflow the previous day.

Grayscale’s GBTC ETF experienced a notable single-day outflow of $82.4197 million. The historical net outflow for GBTC now totals a substantial $17.185 billion, according to data from Farside Investors.

Adoption of ETFs

BNY Mellon, a prominent financial institution, announced exposure to spot Bitcoin (BTC) exchange-traded funds (ETFs) through recent filings with the US SEC. 

Further, Morgan Stanley, a leading global investment bank and wealth management firm, also empowered its 15,000 brokers to suggest spot Bitcoin exchange-traded funds (ETFs) to customers.

The post DTCC Announces Collateral Changes for Crypto ETFs appeared first on Latest News and Insights on Blockchain, Cryptocurrency, and Investing.

Greg Solano, CEO of Yuga Labs, shared a candid message with the company’s employees and the public on X, acknowledging a “tough day” and unveiling plans for reorganization. Some employees experienced an even tougher day with the announcement of layoffs during an all-hands meeting. Solano admitted that Yuga Labs had lost its way.

In his message, Solano reflected on his two months as CEO, expressing concern about the company’s direction:

“The creative-first spirit that drove this company from inception has been getting muddied by labyrinthine corporate processes. We work hard and we care but somehow end up with groups and committees. We plan more than we ship.”

Yuga Labs to Undergo Changes

Solano highlighted the previous success of creator royalties in the Yuga ecosystem, but acknowledged the current challenges: “Now we’re in hard mode.” However, he outlined a plan for the company’s reorganization.

Already, steps have been taken, such as the spinout of HV-MTL and Legends of the Mara, announced on April 17. These properties were acquired by game developer Faraway, and Yuga’s Chief Gaming Officer, Spencer Tucker, joined the acquiring company. Solano emphasized that Yuga Labs would now focus on developing its Otherside metaverse project.

Won Kim Welcomed as the New Brand Ambassador

Prior to Solano’s announcement, Won Kim revealed on X that he had been appointed as the head of brand partnerships at Yuga Labs. Kim, the co-founder of Bored Room Ventures, a non-fungible token (NFT) fund and consulting agency, left his previous position to join Yuga.

While the X crypto community reacted with a mix of responses to the news of layoffs, Solano’s post received overwhelming support. However, some negative voices emerged, including one individual who claimed to have been laid off from Yuga and criticized the company’s practices.

New CEO, New Steps

As reported earlier by TheCoinRise, Solano was welcomed as the new chief executive officer of the NFT firm as it aims to double down on its metaverse ambitions. The firm also plans to strengthen its internal development efforts and expand its presence on a global scale. On the other hand, earlier this year, Wylie Aronow, co-founder of Bored Ape Yacht Club (BAYC) collection developer Yuga Labs, took a leave of absence due to his health condition.

Yuga Labs, known for pioneering NFT collectibles, has faced challenges amid the evolving NFT market. Last October, the company underwent restructuring, which included a round of layoffs.

The post Yuga Labs CEO Announces Reorganization and Layoffs appeared first on Latest News and Insights on Blockchain, Cryptocurrency, and Investing.

It has been a debate contest in the crypto community as disagreements sparked because of the recent research article published by Forbes where high-level cryptocurrencies like XRP, Cardano (ADA) and other high-level crypto assets were labeled ‘living dead’. 

According to the article, the term is used to describe layer-1 blockchains with high market value but limited practical use beyond speculative trading.

One might question why Forbes has the authority to highlight the weaknesses of cryptocurrencies. To be informed, Forbes is a reputable media outlet and often referred to as the “business bible”. It is a US business magazine and has been around since 1917. It is packed with news, articles, and all things related to global business and finance. It has established itself as a reputable and influential publication in the business world.

Forbes on a critiquing mission 

According to the Business Bible, Ripple Labs, the company behind XRP, is highlighted as a prime example of a crypto zombie. It suggests that despite XRP’s active daily trading volume, its use is limited to market speculation.

Ethereum Classic (ETC) and Algorand (ALGO) potentials were also questioned by the business outlet. On the former, it mentioned that the digital coin made the list due to its significant market value and low network fees and also emerged as a continuation of the original Ethereum blockchain after a hard fork in 2016. 

It further expresses its skepticism surrounding Algorand, which was once considered an “Ethereum killer.” The article points out that the limited utility of Algorand has resulted in low income from transaction fees.

Everything seemed fine until Forbes dropped the bombshell that Cardano is also on its zombie list. The “financial guru” referred to the project as trading on the popularity of its founder, Charles Hoskinson. It noted a problem regarding Hoskinson’s educational claims. 

However, this turned out to be a surprise to the supporters of Cardano as they argued that the virtual asset’s ecosystem is active and thriving, delivering value and utility that extends beyond mere speculation. They point to the network’s inflows and the ongoing development activities as evidence of its vitality and relevance.

Is Forbes’ speculation on XRP and Cardano right?

Forbes’ comments might seem harsh to those who are part of these communities; however, it is important to remember that the researcher’s views may not always reflect reality and are just one person’s perspective. 

Recently, ADA’s price took a big hit and dropped below $0.5 due to the overall bearish trend in the crypto market. On April 13th, it even went as low as $0.415 per token. Since then, the bulls have been trying to push it back above $0.45, but with mixed success. 

According to CoinMarketCap, Cardano’s market capitalization has dropped to $16 billion and, the crypto asset is ranking as number 10 with a live market cap of $16,684,149,444.

It is no news that ETC and Ripple prices have been wobbling over the past several weeks, causing a good number of their holders to run for cover and diversify into projects with the potential to bolster their flagging portfolios.

The post Community Kicks as Forbes Tags XRP and Cardano “crypto zombies” appeared first on Latest News and Insights on Blockchain, Cryptocurrency, and Investing.

Metaplanet, a renowned entity listed on the prestigious Tokyo Stock Exchange, recently ventured into the cryptocurrency market by investing $6.25 million in Bitcoin. As per the announcement on X, this decision marks a strategic shift for the company, signaling a bold step towards embracing digital assets as part of its investment portfolio.

Metaplanet Recognizes the Benefits of Embracing Bitcoin

The investment by Metaplanet reflects a broader trend in Japan and globally, where traditional companies recognize cryptocurrency potential as a legitimate asset class. The company’s decision is driven by factors such as the increasing mainstream adoption of cryptocurrencies, favorable regulatory developments, and the potential for substantial long-term gains.

Japanese public company Metaplanet has announced it purchased ¥1b ($6.25m) of $BTC , equivalent to ~30% of the company's current market cap. #Bitcoin pic.twitter.com/BLYC1BC1q4

— Dylan LeClair (@DylanLeClair_) April 26, 2024

By allocating a substantial sum to Bitcoin, the prominent Japanese company is positioning itself strategically to capitalize on the ongoing digital transformation of financial markets. As detailed in a “Progress of Disclosure” notice dated April 8, 2024, the company acquired 97.8519 Bitcoins at an average price of ￥10,219,524 per bitcoin. 

The purchase accounts for around 30% of Metaplanet’s present market capitalization, which suggests a shift in the company’s investment strategy.

Metaplanet Collaborate With Investors to Embrace Bitcoin

Recall that earlier in the month, Metaplanet embraced Bitcoin through the invaluable support and collaboration of prominent partners and investors, including Sora Ventures, UTXO Management, Morgan Creek Capital, and Jack Liu. Likewise, the company committed about JPY 1 billion for the project.

Meanwhile, one of the most notable implications of Metaplanet’s strategic pivot is the access to Bitcoin exposure for its stakeholders. By aligning its treasury reserves with Bitcoin, the company enables anyone with an account to gain indirect exposure to the world’s leading cryptocurrency without incurring the regulatory risks associated with direct investment in digital assets.

With the current development, the Japanese will gain exposure to BTC without paying unrealized gains tax that could be as high as 55%.

MicroStrategy is the World’s Foremost Private Holder of BTC

MetaPlanet’s move comes after MicroStrategy’s recent $2 billion Bitcoin acquisitions for the past six months, which triggered a cautionary note from JPMorgan Chase. This surge in purchases followed the company’s sale of $1.2 billion in senior convertible notes earlier in the year, attracting attention due to its impact on market dynamics.

The notes will reach maturity on March 15, 2030, unless they are repurchased, redeemed, or converted earlier as per their terms. According to JPMorgan analysts, MicroStrategy’s approach to Bitcoin acquisition financing via debt amplifies leverage and speculative enthusiasm within the continuing cryptocurrency surge.

The post Metaplanet Enters the Crypto Market with $6.25M Investment in Bitcoin appeared first on Latest News and Insights on Blockchain, Cryptocurrency, and Investing.

Dogecoin and Shiba Inu surged to mainstream consciousness in 2021 after both meme coins surged to astronomical heights and minted millionaires out of early holders. However, neither dog-themed meme coin is expected to recreate the same parabolic run both did in the past cycle. Instead, the parabolic growth will be found in opportunities that haven’t peaked yet. And in 2024, the smart money is betting on DeeStream—the first-ever decentralized live video streaming platform industry analysts predict could be in for exponential gains in 2024 and 2025.

Can Dogecoin retest March highs yet again?

Dogecoin made a lot of noise in March after surpassing the $0.20 mark, giving DOGE holders hope that the OG dog-themed meme coin could restart its run back to $1. However, those hopes were dashed after Dogecoin retraced back to the $0.12 level to close out March, carrying its bearish run of form into April. Dogecoin is no closer to retesting $0.20, much less $1 as of press time, with the token changing hands at $0.15.

Shiba Inu mimicking Dogecoin price charts

Shiba Inu generated eye-watering gains in 2021, but most of the hype surrounding it—as well as the buying pressure then—has gone to other projects. For the most part, Shiba Inu is mimicking the price movements of Dogecoin as the second-largest meme coin by market cap. Be that as it may, Shiba Inu has demonstrated greater pump potential than its older cousin Dogecoin, which could be attributed to SHIB’s shift to being a deflationary token subject to regular token burns. This reduces the overall SHIB token supply compared to Dogecoin’s inflationary token supply, which can only suppress prices in the long run. 

DeeStream presale draws a crowd as of stage 2 of launch

Investors are seeking out lucrative opportunities in the crypto world—and few investment opportunities are as enticing as DeeStream. DeeStream presents as THE next-generation  decentralized live streaming platform designed to give Web2-based live streaming platforms like YouTube, Twitch, and Kick a run for their money. Backed by a robust management team, compelling tokenomics, and enticing incentives, DeeStream has the potential to emerge as one of the top performers in the upcoming bull cycle.

The platform provides a comprehensive experience similar to top streaming services, allowing content creators to produce media content without the limitations and profit-driven policies commonly found on traditional platforms. DeeStream offers content creators and their audiences multiple opportunities to generate income through its DST token, which is currently being offered at a discounted price of $0.066 in stage 2. Early supporters have the chance to earn a significant revenue share, providing them with a passive income opportunity by investing in one of the highly anticipated presale launches of 2024. Industry experts are highly optimistic about DeeStream’s potential to deliver impressive gains, possibly reaching a highly sought-after 50x to 100x return on investment.

Find out more about the DeeStream (DST) presale by visiting the website here.

The post From Meme to Mainstream: DeeStream Gains Momentum Among Dogecoin and Shiba Inu Communities appeared first on Latest News and Insights on Blockchain, Cryptocurrency, and Investing.

Payment service provider Stripe is reintroducing cryptocurrency payments, this time in the form of stablecoins, as announced by co-founder and president John Collison. The new service is expected to be available this summer.

At the company’s developers conference in San Francisco on April 25, Collison stated, “Crypto is finally making sense as a means of exchange.” Since discontinuing its Bitcoin payment option in 2018, the firm has witnessed improvements in transaction times, decreased fees, and the stable performance of stablecoins.

“We’re bringing back crypto as a way to accept payments, but this time with a much better experience with stablecoins,” Collison said.

Stripe to Support Global Stablecoin Payments

Collison emphasized the stability and functionality of stablecoins, particularly USD Coin (USDC). Stripe will offer payment services using USDC on the Solana, Ethereum, and Polygon blockchains.

In his demonstration on stage, Collison showcased a transaction using USDC. He pointed out that the stablecoin’s dollar peg makes it a reliable store of value, contrasting it with currencies like the Turkish lira. Stripe aims to provide a much-improved experience for crypto payments this time around.

Stripe and Bitcoin

Stripe’s history with cryptocurrency dates back to 2014, when it became the first major payment provider to adopt Bitcoin. However, due to Bitcoin’s limitations as a payment method, Stripe discontinued its support after four years.

In 2022, the firm announced significant layoffs, reducing its workforce by 14%. The company blamed the macroeconomic conditions and a drop in startup funding.

Despite this, Stripe remained involved in the crypto space, participating in Facebook’s Libra project (now Diem) before withdrawing due to regulatory pressure. The company began rebuilding its crypto engineering team in 2021.

History with the Crypto Sector

Stripe has been the payment processor for X (formerly Twitter) and introduced a program in 2022 allowing creators on the platform to receive payments in USDC on Polygon. Additionally, Stripe created fiat-to-crypto on-ramps via APIs in collaboration with cryptocurrency exchanges.

To cater to U.S. customers, Stripe initiated a fiat-to-crypto on-ramp, undertaking conversion and compliance obligations such as Know Your Customer and fraud prevention, following the examples set by Venmo and Robinhood.

As reported earlier by TheCoinRise, Stripe launched a fiat-to-crypto on-ramp to solve the “cold start problem” that Web3 firms experience owing to clients not having “crypto in their wallets to carry out transactions.”

The post Stripe Brings Back Crypto Payments with Stablecoin Support appeared first on Latest News and Insights on Blockchain, Cryptocurrency, and Investing.

Pantera Capital, a digital asset investment manager, is reportedly gearing up to raise more than $1 billion for a new fund aimed at providing investors exposure to a wide range of blockchain-based assets.

Set to launch in April 2025, the Pantera Fund V will be the firm’s ‘all-in-one’ fund, in contrast to its existing funds like the Liquid Token Fund, Early Stage Token Fund, Bitcoin Fund, and Venture Funds, which have more specific investment focuses.

Pantera Capital’s New Fund

Qualified investors will need to commit a minimum of $1 million to the fund, with limited partners required to contribute a minimum of $25 million. The first close for the fund is scheduled for April 1, 2025.

According to Pantera Capital’s website, the Pantera Fund V will include various asset types such as startup equity, early-stage tokens, and liquid tokens.

With $5.2 billion in assets under management (AUM) across its existing funds, Pantera’s $1 billion raise would be the largest in the cryptocurrency industry since May 2022, when Andreessen Horowitz raised $4.5 billion.

Paradigm is Making a Similar Move

VC firm Paradigm is also reportedly negotiating a raise of up to $850 million for a new cryptocurrency fund, indicating a potential resurgence of institutional capital in the sector following a market rebound in 2023.

While venture capital firm Andreessen Horowitz recently raised $7.2 billion for investments across various technology sectors, including GameFi and artificial intelligence, its cryptocurrency-focused fund did not receive additional capital.

Pantera Shifts Focus to GameFi

Meanwhile, Pantera has increased its focus on the GameFi platform InfiniGods, exclusively leading its $8 million Series A round announced on April 25.

In 2024, over $3.5 billion has been raised across 604 funding rounds in the cryptocurrency industry so far. If this trend continues, funding for the year is expected to surpass the $9.3 billion raised in 2023 by a significant margin, according to RootData.

Despite this recent uptick, venture capital funding remains below the highs seen in 2021 and 2022, which saw $31.2 billion and $29.3 billion raised, respectively.

As reported earlier by TheCoinRise, Pantera Capital’s early-stage token fund has lost more than half of its value in 2022 after giving a 350% return on investment since its launch in 2017.

The post Pantera Capital Plans to Raise Over $1B for Blockchain Fund appeared first on Latest News and Insights on Blockchain, Cryptocurrency, and Investing.

The United States Securities and Exchange Commission (SEC) has filed a lawsuit against Geosyn Mining and its co-founders, alleging they defrauded investors out of $5.6 million by providing false information about the company’s crypto mining operations and misusing customer funds for personal expenses.

The lawsuit, filed by the SEC on April 24 in a federal court in Fort Worth, Texas, accuses Geosyn, its CEO Caleb Joseph Ward, and former operating chief Jeremy George McNutt of defrauding approximately 64 investors through the sale of service agreements marketed as securities between November 2021 and December 2022.

The SEC Digs Deep

According to the SEC, these agreements promised to buy and operate crypto mining rigs on behalf of customers for a fee. However, the SEC claims that Geosyn falsely represented having contracts with electricity providers for discounted energy rates when, in reality, the costs were significantly higher than stated.

Ward and McNutt allegedly lied to investors about Geosyn’s mining operations, claiming to have purchased 1,400 mining rigs but failing to buy 400 of them and never bringing most of the purchased machines online.

Deceiving Investors

While investors were promised the ability to choose which cryptocurrency to mine, Geosyn only allowed mining of Bitcoin, the SEC alleges. To deceive investors into believing their investments were profitable, Geosyn made BTC payouts based on fabricated mining production rates and profits.

The SEC also accuses Geosyn of misappropriating investor funds for personal expenses, including meals, nightclubs, vacations, guns, watches, and legal fees. McNutt reportedly used company funds for extravagant purchases, such as a $20,000 “Las Vegas nightclub wedding celebration” for Ward and a $49,000 family trip to Disney World.

SEC Highlights Additional Expenses

Furthermore, the SEC claims that McNutt and a Geosyn employee were separately arrested for drunk driving during a crypto conference in June 2022, leading to additional expenses for bail and legal fees.

Less Than $1,900 in the Bank

By the end of 2022, Geosyn faced financial difficulties as new investor funds dried up, leaving the company with less than $1,900 in the bank. McNutt left the company in October 2022, allegedly reporting him for embezzlement without disclosing his own misuse of funds.

In early 2023, Ward informed investors via email that the company would file for bankruptcy but never followed through. The SEC is seeking a permanent injunction, repayment of misappropriated funds, and penalties against the defendants.

The post SEC Files Lawsuit Against Geosyn Mining and Co-Founders appeared first on Latest News and Insights on Blockchain, Cryptocurrency, and Investing.

According to a report from AdvisorHub, Morgan Stanley, a leading global investment bank and wealth management firm, is laying the foundation that will empower its 15,000 brokers to suggest spot Bitcoin exchange traded Funds (ETFs) to customers. 

The firm is working on setting requirements for risk tolerance, allocation limits, and trading frequency. The source of information came from two senior executives familiar with the company’s plan. However, the informants couldn’t provide a specific timeframe for when this policy change might happen.

In 2020 the financial giant reported that investors are falling behind when it comes to purchasing Bitcoin and other cryptocurrencies. It will be fascinating news for stakeholders if this development comes to reality.

Advantage to the Crypto Community and World at large 

It will be an exciting time to see Morgan Stanley join the ranks of brokerage companies like Merrill Lynch and Wells Fargo to start providing spot Bitcoin ETFs. 

If the organization allows its brokers to recommend spot Bitcoin exchange-traded funds, the development could be seen as a positive step towards mainstream acceptance of cryptocurrencies among a wider audience. This move could also contribute to the legitimization of cryptocurrencies as an investment option. Additionally, it may attract more institutional investors and further drive the growth and adoption of digital assets. 

Amid the broader push for Bitcoin ETF embrace, Merrill Lynch and Wells Fargo initially restricted purchases to a solicited basis, meaning customers had to proactively contact their advisors to make the purchase after launching in January. 

Data from SoSoValue on Wednesday, showed spot Bitcoin ETFs traded in the U.S. by major financial institutions like BlackRock, Grayscale, and Ark Invest have attracted a total net inflow of $12.29 billion and have accumulated over $53.6 billion in assets under management. 

In the case of BlackRock, its IBIT spot bitcoin fund alone represents 24% of all the flows from its 1,000 ETFs. It’s impressive to see the significant interest and investment in these Bitcoin ETFs.

Morgan Stanley’s Path of Progress Continues

In 2020, Morgan Stanley made a big move by acquiring E*Trade for a whopping $13 billion in an all-stock deal. It was a significant step for the firm, expanding its presence in the financial services industry. 

The move to pivot into Spot Bitcoin ETFs could lead to even more exciting progress and opportunities for investors if the company combines its expertise in E*Trade offerings with ETFs. 

The post Bitcoin ETFs: Morgan Stanley Making Important Adoption Step appeared first on Latest News and Insights on Blockchain, Cryptocurrency, and Investing.

The crypto market has been anticipating the potential approval of Spot Ethereum ETF applications in the United States. However, recent reports by Walter Bloomberg on X suggest that these hopes may be dashed, as regulatory obstacles loom large on the horizon.

US SEC Rigorously Scrutinize the Crypto Space

The U.S. Securities and Exchange Commission (SEC) has been scrutinizing the cryptocurrency space with increasing rigor, particularly concerning ETFs tied to digital assets. While Bitcoin ETF proposals have garnered much attention, Ethereum, the second-largest cryptocurrency by market capitalization, has also been in the regulatory spotlight.

Despite Ethereum’s growing popularity and utility in decentralized finance (DeFi) applications, the SEC appears hesitant to greenlight ETFs based on the digital asset. Unconfirmed reports suggest that the regulatory body may reject spot Ethereum ETFs as early as May. This decision is due to concerns by the Securities and Exchange Commission (SEC) regarding Ethereum ETFs. However, no official confirmation has been given yet.

The denial of Ethereum ETFs could have significant implications for the cryptocurrency market. While some investors may view ETFs as a more accessible and regulated means of gaining exposure to Ethereum, others may turn to alternative investment vehicles or opt for direct ownership of digital assets.

JPMorgan Highlights Challenges Affecting Spot ETH ETF Approval

Recall that in January, JPMorgan, a prominent financial institution, cast doubts on the likelihood of a spot Ethereum ETF gaining approval by May, expressing a cautious sentiment. For an ETF to be approved, JPMorgan’s Nikolaos Panigirtzoglou told The Block that the US SEC would need to classify Ethereum as a commodity, akin to Bitcoin (BTC), rather than a security. 

This distinction is crucial, as securities fall under a different set of regulations compared to commodities. “This is far from certain, as he wouldn’t give more than a 50% chance to the SEC classifying Ethereum as a commodity before May,” Nikolaos said.

SEC Greenlights ETH Futures Applications

Despite the delay in Spot ETH ETF approvals, the SEC began greenlighting investment vehicles tied to Ether Futures last year, indicating a growing acceptance of Ether as a commodity. The delay in VanEck’s application has also prompted the regulator to open the proposal to public comment, allowing stakeholders to weigh in.

Nevertheless, the crypto community remains optimistic about Ethereum’s long-term prospects, buoyed by its robust development ecosystem and widespread use cases. While the denial of ETFs may represent a setback, it is unlikely to deter the ongoing evolution of Ethereum and its role in shaping the future of finance.

The post US SEC Likely to Deny Spot Ethereum ETFs Approval in May appeared first on Latest News and Insights on Blockchain, Cryptocurrency, and Investing.

Worldcoin, a digital currency project, is actively pursuing partnerships with OpenAI, despite facing regulatory hurdles in multiple jurisdictions due to its innovative iris scanning technology. According to Bloomberg’s report, the partnerships between Worldcoin and the tech firm have sparked speculations and raised questions about the implications of such collaborations. 

Worldcoin Solidify its Position with Strategic Partnership

While the exact information about the scope of these partnerships remains undisclosed, Worldcoin remains determined to forge ahead with its vision and enhance the security and efficiency of its platform.

Moreover, collaboration with OpenAI could enable Worldcoin to develop innovative solutions for regulatory compliance. By leveraging AI-powered analytics and risk assessment tools, Worldcoin may mitigate regulatory risks and ensure compliance with data protection laws in different jurisdictions.

However, there are many inquiries about how the partnerships align with OpenAI’s mission and whether they could affect the organization’s reputation and ethical position within the industry.

Worldcoin Re-emerged After Crypto Downtrend

Worldcoin was founded in 2019 by Sam Altman and Alex Blania. Since then, it has maintained a low profile until the launch of the Artificial intelligence (AI) chat known as ChatGPT which became a global sensation. However, it made a revolutionary reintroduction when the crypto industry tried to recover from the bear market it suffered in 2022. 

This, in addition to the inglorious collapse and bankruptcy filing of the FTX exchange in November 2022. Meanwhile, last year, the OpenAI CEO said he was inching toward securing up to $100 million for his Worldcoin Crypto Project. 

Worldcoin Exit India, Brazil, and France

Sam Altman’s Worldcoin is keen on expanding its orb verification tool to top economic hubs like Singapore but at the same time, the company felt the need to exit other key markets. Regulatory uncertainties caused exits from India, Brazil, and France. However, Tools for Humanity, the foundation overseeing Worldcoin’s development explained that the expansion of the lord verification tool was initially meant for “limited-time access” in various markets.

Lily Gordon, one Worldcoin spokesperson highlighted the firm’s commitment to complying with regulatory frameworks prevalent in any jurisdiction. Meanwhile, there are plans to return to these key markets with a bespoke, safe, and orderly process that effectively meets demand.

The post Worldcoin Eyes Partnerships With OpenAI Amid Regulatory Obstacles appeared first on Latest News and Insights on Blockchain, Cryptocurrency, and Investing.

TLDR:

The Terra Luna community has approved a proposal to reduce its MaxBlockSize from 5MB to 2MB.

Avalanche price has gained 6.5% in the past week and bulls are aiming for the $40 price level.

Following its listing at $0.020, NuggetRush looks to rally to $1 as it prepares to launch.

The Terra Luna community has given the green light to a proposal aimed at reducing its MaxBlockSize from 5MB to 2MB. Meanwhile, Avalanche has seen a 6.5% price surge in the past week. Also, NuggetRush, which raised over $3.8 million in its crypto ICO, has emerged as one of the best altcoins to watch. 

>> Buy NuggetRush Now <<

NuggetRush (NUGX) Crypto Mining Game and Potential for 100% Gains

NuggetRush (NUGX), a new DeFi project, introduces a groundbreaking play-to-earn gaming experience aiming to transform the gaming industry. Unlike traditional games, NuggetRush offers a unique mining game concept, where players can take different characters, explore different lands, and use various tools for mining activities.

The mined minerals, ranging from gold and silver to diamond, hold real-world value and can be exchanged for actual money. This makes NuggetRush a top DeFi project from other gaming platforms. However, only those who have NuggetRush’s native token, NUGX, can enjoy these benefits. 

This feature positions the NUGX token as the best crypto investment. Meanwhile, NuggetRush’s NUGX token was recently listed at $0.020 on Uniswap, an increase of 100% from its beginning price of $0.010. According to analysts’ predictions, the price of NUGX is expected to increase to $1.00 in the coming months. 

Two major catalysts that would push the price surge are NUGX’s listing on exchanges and the launch of NuggetRush’s mining game. So investors looking for which crypto to buy can get NuggetRush’s NUGX tokens at $0.020 now. 

>> Buy NuggetRush Now <<

Terra Classic (LUNC) Reduces Maximum Block Size

The Terra Classic (LUNC) community has successfully approved a proposal to decrease the maximum block size. This decision aims to reduce the block size from 5MB to 2MB. The goal is to mitigate the risks associated with peer-to-peer attacks within the ecosystem.

The price of LUNC has entered the green region. Positive developments on the Luna ecosystem and the recent market recovery have pushed LUNC’s price by 7.4% on the weekly chart. The altcoin price is fluctuating between $0.00009472 and $0.0001119 and could rise higher in the coming weeks.

Avalanche (AVAX) Price Soars, Bulls Aim for $40

Avalanche (AVAX), with many other altcoins, is showing upward movement after the fourth Bitcoin halving. This event sparked optimism in the market and has led to increased capital flowing into various cryptocurrencies, including AVAX.

According to CoinMarketCap, the price of Avalanche in the past week has increased by 6.5%. AVAX’s price soared from a low of $32.64 and hit a peak of $39.12 before facing a little price correction. Nevertheless, Avalanche’s look promised to break the barrier at the $40.00 level, given the positive sentiment in the market.

Conclusion 

Terra Luna’s community has approved a proposal to reduce its block size, and Avalanche has seen gains in the past week. Meanwhile, NuggetRush is showing promising potential for more gains in the coming weeks, placing it as the best cryptocurrency to buy for potential high returns.

Visit the NuggetRush Website

The post Terra Community Approves Block-Reduction Proposal As Avalanche and NuggetRush See Gains appeared first on Latest News and Insights on Blockchain, Cryptocurrency, and Investing.

According to a survey conducted by accounting firm KPMG, institutional investors based in Canada significantly increased their exposure to crypto assets last year compared to the previous bull run.

In 2023, nearly 40% of institutional investors reported having direct or indirect exposure to crypto assets, up from 31% in KPMG’s 2021 study.

Canada and Crypto Adoption

The survey received 65 responses, with 31 identifying as institutional investors managing more than $500 million in assets, and the remaining 34 representing financial services organizations operating in Canada.

One-third of institutional investors have allocated 10% or more of their portfolios to crypto assets, an increase from a fifth two years ago.

Kunal Bhasin, a partner and leader at KPMG Canada’s Digital Assets practice, noted that firms in Canada are increasingly interested in investing in alternative asset classes that serve as a hedge against debasement and a reliable store of value amidst rising inflation and debt in the United States.

Canada is a Maturing Market

The survey revealed that a majority of investors in Canada cited a maturing market and improved custody infrastructure as key reasons for investing in crypto assets. Additionally, increased client demand for crypto asset services was a significant factor in financial firms expanding their offerings.

The approval of spot Bitcoin and Ethereum exchange-traded funds (ETFs) in Canada in February 2021 played a pivotal role in attracting local investors to the asset class. 

Approval of Spot BTC ETF

According to Kareem Sadek, another executive at KPMG’s Digital Assets practice, the recent approval of spot Bitcoin ETFs in the United States was a “milestone moment” for many market participants in Canada.

Half of the institutional investors surveyed have crypto asset exposure through Canadian ETFs, closed-ended trusts, or other regulated products. Furthermore, 58% have exposure through the stock market, such as Galaxy Digital on the Toronto Stock Exchange, which is up from 36% in 2021.

The survey also showed that more institutional investors are gaining exposure through derivatives markets, now at 42% compared to 14% in 2021. However, exposure through venture capital or hedge fund firms fell to 25% from 29% in 2021.

The post Canada Sees Uptick in Institutional Investors Exposed to Crypto appeared first on Latest News and Insights on Blockchain, Cryptocurrency, and Investing.

BlackRock has officially stated that it has “no commercial relationship” with Hedera Hashgraph and has not chosen the platform to tokenize any BlackRock funds, including shares of its $22 billion money market fund.

The price of Hedera’s token (HBAR) surged over 100% on Tuesday following an announcement by the HBAR Foundation on X, claiming that blockchain firms Archax and Ownera had tokenized BlackRock’s ICS U.S. Treasury Fund on Hedera.

BlackRock Hasn’t Partnered with Hashgraph

However, some misinterpreted the post to suggest that the firm played an active role in the tokenization effort. In response, a spokesperson from the firm confirmed that this was not the case.

“BlackRock has no commercial relationship with Hedera nor has BlackRock selected Hedera to tokenize any BlackRock funds.”

Since its peak at $0.176 on April 24, HBAR has fallen 32.8% to $0.1134 as of the time of writing, according to CoinGecko.

Direct Communication with Public

The spokesperson emphasized that the company will communicate directly with the public regarding the evolution of its digital asset strategy.

The HBAR Foundation’s announcement garnered significant attention, with over 2.9 million views and 3,200 reposts. However, some cryptocurrency influencers misunderstood the message.

“BLACKROCK JUST TOKENIZED ONE OF THEIR MONEY MARKET FUNDS ON HEDERA,” said Mason Versluis to his 189,000 X followers.

Archax CEO Weighs In

Archax CEO Graham Rodford later clarified on X that it was his firm’s decision to put shares of BlackRock’s money market fund on Hedera. Rodford explained during an interview with crypto YouTuber Jesus Martinez that Archax had clients interested in investing in the fund.

Rodford clarified, “Archax had clients that wanted to invest in the BlackRock money market fund. When they expressed an interest, we opened an account at BlackRock so that we could.”

Good Relationship with BlackRock

“With most of the investments we make, we want to tokenize them. We told them [BlackRock] we were going to and then just out of the good relationship with them we said ‘hey we’re putting out a press release, you guys happy to check it?’ — so they checked it and gave their views on it,” Rodford further explained.

Rodford emphasized that Archax has been leading the project and that the firm’s involvement was limited to checking the press release.

Despite the price pump, HBAR is still down over 78% from its September 2021 all-time high of $0.57, according to CoinGecko.

The post BlackRock Denies Tokenizing Funds on Hedera Hashgraph appeared first on Latest News and Insights on Blockchain, Cryptocurrency, and Investing.