Solana DEX Drift Plans to Airdrop 100 Million $DRIFT Tokens to Users 💸 💸 💸
Drift, a decentralized exchange protocol on Solana for trading crypto perpetual futures, is launching its governance token, DRIFT. The token will have a total supply of 1 billion, with 10% or 100 million tokens to be distributed through an airdrop to 180K users based on their activity on the platform.
Drift, a decentralized exchange protocol on Solana for trading crypto perpetual futures, is launching its governance token, DRIFT. The token will have a total supply of 1 billion, with 10% or 100 million tokens to be distributed through an airdrop to 180K users based on their activity on the platform.
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SEC Releases Second Fee Rate Advisory for Fiscal Year 2024 👀
Starting May 22, 2024, most securities transactions will incur a fee of $27.80 per million dollars, up from the previous rate of $8 per million. Security futures transactions will continue to be assessed at $0.0042 per round turn transaction. These adjustments were made by the Securities and Exchange Commission in accordance with Section 31 of the Securities Exchange Act of 1934.
Starting May 22, 2024, most securities transactions will incur a fee of $27.80 per million dollars, up from the previous rate of $8 per million. Security futures transactions will continue to be assessed at $0.0042 per round turn transaction. These adjustments were made by the Securities and Exchange Commission in accordance with Section 31 of the Securities Exchange Act of 1934.
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Nigerian Crypto Fee Hike Seen as Invitation for Crypto 'Big Boys', Says NoOnes CEO 💎
Venture capitalists still see potential in Nigeria despite the suggested increased crypto registration fees. However, the services they can provide may struggle to gain momentum due to government restrictions on peer-to-peer (P2P) platforms aimed at curbing free market promotion, according to Ray Youssef, the CEO of NoOnes, a financial communication and P2P app.
Venture capitalists still see potential in Nigeria despite the suggested increased crypto registration fees. However, the services they can provide may struggle to gain momentum due to government restrictions on peer-to-peer (P2P) platforms aimed at curbing free market promotion, according to Ray Youssef, the CEO of NoOnes, a financial communication and P2P app.
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VC roundup: Centrifuge, Crypto Valley Exchange, Nebra lock in funding rounds
Venture capital (VC) investors kept busy this past week as Centrifuge, Crypto Valley Exchange and Nebra all clinched new rounds of funding.
Crypto Valley Exchange
The $7-million funding round consisted of pre-seed and seed rounds. Fabric Ventures and Kyber Capital Crypto Fund co-led the effort.
Crypto Valley Exchange also drew support from notable backers like AMDAX, Wave Digital, Funfair Ventures, and the Seier Capital Family Office, among others.
CVEX is set to offer a decentralized exchange (DEX) catering to crypto enthusiasts, aiming to provide transparent and cost-effective futures and options trading. One of its features includes specialized bid-offer dynamics that the company hopes will work better than existing trading platforms.
Regarding its upcoming mainnet launch, scheduled for this summer on Arbitrum (ARB), CVEX stated it will include enhanced trading features compatible with user wallets across Ethereum (ETH), Optimism (OP), and Solana (SOL).
Centrifuge
In other funding news, Centrifuge, a leading platform for on-chain finance, also announced a substantial $15 million Series A funding round.
The round, which was oversubscribed and supported by a diverse array of investors, is considered a pivotal moment for Centrifuge’s journey toward establishing itself as the go-to platform for real-world asset (RWA) tokenization.
Centrifuge plans to launch an institutional-grade lending market for RWAs on the Base layer-2 network, which it also plans to integrate with Coinbase Verification.
According to the company, the initiative is meant to enable swift and secure onboarding for institutions seeking exposure to real-world assets, and it will also provide instant liquidity and lending options against asset holdings.
Nebra
Blockchain and zero-knowledge proof (ZKP) research platform Nebra made headlines after securing $4.5 million in investment in their pre-seed and seed rounds.
Venture capital (VC) investors kept busy this past week as Centrifuge, Crypto Valley Exchange and Nebra all clinched new rounds of funding.
Crypto Valley Exchange
The $7-million funding round consisted of pre-seed and seed rounds. Fabric Ventures and Kyber Capital Crypto Fund co-led the effort.
Crypto Valley Exchange also drew support from notable backers like AMDAX, Wave Digital, Funfair Ventures, and the Seier Capital Family Office, among others.
CVEX is set to offer a decentralized exchange (DEX) catering to crypto enthusiasts, aiming to provide transparent and cost-effective futures and options trading. One of its features includes specialized bid-offer dynamics that the company hopes will work better than existing trading platforms.
Regarding its upcoming mainnet launch, scheduled for this summer on Arbitrum (ARB), CVEX stated it will include enhanced trading features compatible with user wallets across Ethereum (ETH), Optimism (OP), and Solana (SOL).
Centrifuge
In other funding news, Centrifuge, a leading platform for on-chain finance, also announced a substantial $15 million Series A funding round.
The round, which was oversubscribed and supported by a diverse array of investors, is considered a pivotal moment for Centrifuge’s journey toward establishing itself as the go-to platform for real-world asset (RWA) tokenization.
Centrifuge plans to launch an institutional-grade lending market for RWAs on the Base layer-2 network, which it also plans to integrate with Coinbase Verification.
According to the company, the initiative is meant to enable swift and secure onboarding for institutions seeking exposure to real-world assets, and it will also provide instant liquidity and lending options against asset holdings.
Nebra
Blockchain and zero-knowledge proof (ZKP) research platform Nebra made headlines after securing $4.5 million in investment in their pre-seed and seed rounds.
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Renzo (EZ) Farming Starts On Binance Launchpool From 24 Apr 💎
Token Info:
— Ticker: $EZ
— Total Supply: 10B $EZ
— Launchpool Rewards: 250M $EZ (2.5% of max token supply)
— Initial Circulating Supply: 1.05B $EZ (10.5% of max token supply)
Staking Info:
— Token staked: BNB, FDUSD
— Farming period: 24 Apr ~ 29 Apr
— Hourly Hard Cap per User:
— BNB: 147,569.44 $EZ
— FDUSD: 26,041.67 $EZ
Listing Info: Binance will list $EZ on 30 Apr, 12:00 (UTC)
Token Info:
— Ticker: $EZ
— Total Supply: 10B $EZ
— Launchpool Rewards: 250M $EZ (2.5% of max token supply)
— Initial Circulating Supply: 1.05B $EZ (10.5% of max token supply)
Staking Info:
— Token staked: BNB, FDUSD
— Farming period: 24 Apr ~ 29 Apr
— Hourly Hard Cap per User:
— BNB: 147,569.44 $EZ
— FDUSD: 26,041.67 $EZ
Listing Info: Binance will list $EZ on 30 Apr, 12:00 (UTC)
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Blockchain Association and Crypto Freedom Alliance of Texas Take Legal Action Against SEC Over Recently Adopted Dealer Rule
The Blockchain Association and the Crypto Freedom Alliance of Texas have sued the U.S. Securities and Exchange Commission over a newly adopted dealer rule, alleging violations of the Administrative Procedures Act. They seek to "strike down" the rule and prevent its use against the industry.
The Blockchain Association and the Crypto Freedom Alliance of Texas have sued the U.S. Securities and Exchange Commission over a newly adopted dealer rule, alleging violations of the Administrative Procedures Act. They seek to "strike down" the rule and prevent its use against the industry.
The results of the contest will be announced on May 6th, 2024
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US SEC Expected to Reject Spot Ether ETFs in May 😱
The United States Securities and Exchange Commission (SEC) is expected to deny spot Ether exchange-traded funds (ETFs) in May, according to a new report. Recent meetings between issuers and the SEC have been one-sided, with agency staff not discussing substantive details about the proposed products. Analysts believe that approval will likely be delayed until later in 2024 or longer due to the regulatory landscape being unclear.
The United States Securities and Exchange Commission (SEC) is expected to deny spot Ether exchange-traded funds (ETFs) in May, according to a new report. Recent meetings between issuers and the SEC have been one-sided, with agency staff not discussing substantive details about the proposed products. Analysts believe that approval will likely be delayed until later in 2024 or longer due to the regulatory landscape being unclear.
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Aethir Introduces Aethir Cloud Airdrop 🔥
Aethir has launched Aethir Cloud Drop, an airdrop campaign where participants can earn rewards by completing tasks such as purchasing Aethir Checker nodes, engaging on social media, participating in quizzes, referring friends, and being part of specific NFT/token communities. The campaign runs until May 12, marking the final stage before Aethir's official launch.
How To Participate:
— Visit https://airdrop.aethir.com
— Connect your wallet
— Automatically receive badges based on eligibility
— Complete quests for more badges
— Refer friends for a referral badge
— Earn referral points from your referrals' activities
Aethir has launched Aethir Cloud Drop, an airdrop campaign where participants can earn rewards by completing tasks such as purchasing Aethir Checker nodes, engaging on social media, participating in quizzes, referring friends, and being part of specific NFT/token communities. The campaign runs until May 12, marking the final stage before Aethir's official launch.
How To Participate:
— Visit https://airdrop.aethir.com
— Connect your wallet
— Automatically receive badges based on eligibility
— Complete quests for more badges
— Refer friends for a referral badge
— Earn referral points from your referrals' activities
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BNY Mellon invests in Bitcoin ETFs as institutional interest grows
BNY Mellon, the world’s largest custodian bank and the oldest in the U.S., has recently disclosed its investment in Bitcoin ETFs.
According to an SEC filing, the bank is exposed to BTC ETFs offered by BlackRock and Grayscale, underscoring the growing institutional interest in cryptocurrencies.
The U.S. SEC’s approval of 11 spot Bitcoin ETFs earlier this year marked a significant milestone for American crypto investors. This decision came after prolonged investor demand for such financial instruments.
ETF anticipation and subsequent approval triggered a surge in the crypto market, propelling BTC to a new all-time high of $73,737 in March. The demand for Bitcoin (BTC) ETF exposure reflects a broader trend of institutional investors warming up to the emerging asset class.
BNY Mellon, the world’s largest custodian bank and the oldest in the U.S., has recently disclosed its investment in Bitcoin ETFs.
According to an SEC filing, the bank is exposed to BTC ETFs offered by BlackRock and Grayscale, underscoring the growing institutional interest in cryptocurrencies.
The U.S. SEC’s approval of 11 spot Bitcoin ETFs earlier this year marked a significant milestone for American crypto investors. This decision came after prolonged investor demand for such financial instruments.
ETF anticipation and subsequent approval triggered a surge in the crypto market, propelling BTC to a new all-time high of $73,737 in March. The demand for Bitcoin (BTC) ETF exposure reflects a broader trend of institutional investors warming up to the emerging asset class.
Phoenix and Wasabi Withdraw from US Market Amid Crackdown on Self-Custody Wallets
ACINQ's Phoenix Wallet and zkSNACKs' Wasabi Wallet are discontinuing services for U.S. customers due to concerns about the legitimacy of self-custodial wallet providers as money service businesses. This follows recent regulatory actions against other wallet providers.
ACINQ's Phoenix Wallet and zkSNACKs' Wasabi Wallet are discontinuing services for U.S. customers due to concerns about the legitimacy of self-custodial wallet providers as money service businesses. This follows recent regulatory actions against other wallet providers.
Tether invests $200m in biotech firm Blackrock Neurotech ⚡️
Stablecoin issuer Tether has invested $200 million in Blackrock Neurotech through its venture division, Tether Evo.
The investment positions Tether as the majority stakeholder in the biotech firm renowned for its advancements in brain-computer interface (BCI) technology. The funds will enhance Blackrock Neurotech’s ability to commercialize its medical tools and further its research and development initiatives.
The investment comes after Tether reported a record net profit of $2.9 billion in the fourth quarter of 2023.
“Blackrock Neurotech is just the beginning of our journey through Tether Evo to venture into projects that redefine the boundaries of what’s possible at the intersection of technological innovation and human potential,” Ardoino said, adding that Blackrock’s technology aims to enhance communication, rehabilitation, and cognitive functions.
Stablecoin issuer Tether has invested $200 million in Blackrock Neurotech through its venture division, Tether Evo.
The investment positions Tether as the majority stakeholder in the biotech firm renowned for its advancements in brain-computer interface (BCI) technology. The funds will enhance Blackrock Neurotech’s ability to commercialize its medical tools and further its research and development initiatives.
The investment comes after Tether reported a record net profit of $2.9 billion in the fourth quarter of 2023.
“Blackrock Neurotech is just the beginning of our journey through Tether Evo to venture into projects that redefine the boundaries of what’s possible at the intersection of technological innovation and human potential,” Ardoino said, adding that Blackrock’s technology aims to enhance communication, rehabilitation, and cognitive functions.
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EigenLayer Unveils Token Airdrop Plan with 15% Allocation for Stakers 🔥
EigenLayer has introduced its native token, which will be distributed by the newly established Eigen Foundation. The project plans to allocate 15% of Eigen tokens across multiple seasons to stakers.
EigenLayer has introduced its native token, which will be distributed by the newly established Eigen Foundation. The project plans to allocate 15% of Eigen tokens across multiple seasons to stakers.
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Securitize receives $47m funding round headed by BlackRock 💸
Joseph Chalom, BlackRock’s Global Head of Strategic Ecosystem Partnerships, will join Securitize’s Board of Directors, representing the alliance’s importance.
The funding also coincides with the launch of BlackRock’s first tokenized fund, the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), issued on Ethereum (ETH).
Managed in collaboration with Securitize, BUIDL aims to maintain a stable token value of $1, pays dividends directly to investors’ wallets, and offers flexible custody options, enhancing investor accessibility and convenience.
Joseph Chalom, BlackRock’s Global Head of Strategic Ecosystem Partnerships, will join Securitize’s Board of Directors, representing the alliance’s importance.
The funding also coincides with the launch of BlackRock’s first tokenized fund, the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), issued on Ethereum (ETH).
Managed in collaboration with Securitize, BUIDL aims to maintain a stable token value of $1, pays dividends directly to investors’ wallets, and offers flexible custody options, enhancing investor accessibility and convenience.
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LayerZero Labs finalizes initial snapshot for potential airdrop 🔥
LayerZero Labs, the developer of a cross-chain communication protocol, has completed the first snapshot apparently related to a potential airdrop distribution to community members. The snapshot — the final point at which transactions count for eligibility of the airdrop — was finalized at 11:59:59 PM UTC on May 1, 2024. "More information coming soon," the team added in a graphic shared on X.
LayerZero Labs, the developer of a cross-chain communication protocol, has completed the first snapshot apparently related to a potential airdrop distribution to community members. The snapshot — the final point at which transactions count for eligibility of the airdrop — was finalized at 11:59:59 PM UTC on May 1, 2024. "More information coming soon," the team added in a graphic shared on X.
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CFTC Commissioner Proposes AI Fraud Task Force Creation 😱
CFTC Commissioner Kristin Johnson has proposed three regulations for AI in U.S. financial markets: a principles-based framework for assessing AI risks, heightened penalties for AI misuse, and a task force to harmonize AI integration guidance.
CFTC Commissioner Kristin Johnson has proposed three regulations for AI in U.S. financial markets: a principles-based framework for assessing AI risks, heightened penalties for AI misuse, and a task force to harmonize AI integration guidance.
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Grayscale's GBTC Bitcoin ETF Sees $63 Million Inflows, Breaking 78-Day Outflow Streak 💸
Grayscale's GBTC spot bitcoin ETF saw its first daily net inflows since it converted, ending a 78-day outflow streak. GBTC had $63 million inflows on Friday, while U.S. spot bitcoin ETFs had $378.3 million inflows, the largest since March 13.
Grayscale's GBTC spot bitcoin ETF saw its first daily net inflows since it converted, ending a 78-day outflow streak. GBTC had $63 million inflows on Friday, while U.S. spot bitcoin ETFs had $378.3 million inflows, the largest since March 13.
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