Uniswap, the leading decentralized exchange (DEX), has reached a major milestone by surpassing $2 trillion in all-time trading volume. This achievement showcases the platform’s dominance in the crypto trading sphere. Exponential Growth It took Uniswap 42 months to reach its first trillion in trading volume in 2022. However, its growth since then has been remarkable,…
Authorities Seek Help from On-Chain Sleuth ZachXBT, a well-known blockchain investigator, claims he’s been harassed by agents from the IRS Criminal Investigation unit. He alleges that they’ve shown up at his old addresses, contacted him through personal emails, and sent mail despite his public contact information being available. IRS-CI Praises ZachXBT’s Work In one email…
SEC Victory A US jury has ruled that Terraform Labs and its founder, Do Kwon, are liable for civil fraud in the collapse of the Terra ecosystem. The SEC filed a lawsuit against the company and Kwon in February 2023, alleging a multi-billion dollar crypto scam. The jury found that Kwon and Terraform Labs: Falsely…
Binance, the world’s leading crypto exchange, is adding support for a new layer-1 crypto project called Saga (SAGA) through its Launchpool platform. What is Saga? Saga is a web3 platform designed to empower developers to create interoperable, application-specific chains called “Chainlets.” This enables developers to launch dedicated blockchains as easily as deploying smart contracts. Binance…
Wealth Transfer An estimated $90 trillion is being transferred as baby boomers pass on assets to their children. Debt Transfer Simultaneously, a significant amount of debt is also being transferred. A survey by Policygenius reveals that: 46% of Americans expect to leave debt behind when they die. 58% of those earning over $150,000 per year…
El Salvador has awarded the first “Bitcoin Diplomas” to students who completed the nation’s innovative Bitcoin education program. Program Highlights The 10-week program covered: History of Bitcoin and its creator, Satoshi Concept and history of money Fiat currency and its control Bitcoin’s solutions to fiat currency issues Bitcoin usage, Lightning Network, and blockchain technology El…
Growing Popularity of Bitcoin ETFs Bitcoin (BTC) is gaining traction among asset managers and traditional financial institutions, leading to the success of Bitcoin ETF products. BlackRock, Grayscale, and Fidelity have all launched successful ETFs, attracting significant investment. BlackRock’s ETF Expands Authorized Participants BlackRock’s iShares Bitcoin Trust (IBIT) ETF has added five new authorized participants (APs):…
PayPal has launched a new service that allows US users to fund international money transfers using its stablecoin, PayPalUSD (PYUSD). How it Works Xoom, PayPal’s remittance provider, now allows users to convert PYUSD in their PayPal account to US dollars and use it to send money to over 160 countries. When using this option, Xoom…
Ethereum’s Weaknesses Renowned trader Peter Brandt has criticized Ethereum (ETH), calling it a “junk coin.” He argues that ETH lacks the qualities needed for long-term success, such as: Store of value: ETH is not a reliable store of value like Bitcoin. Functionality: ETH struggles with high gas fees and limited layer-2 solutions. Brandt supports his…
Cardano Treasury on the Rise Cardano’s Treasury is growing rapidly, holding over 1.48 billion ADA, worth around $843 million. This war chest is designed to fund ongoing development. Development Boost The Treasury receives a fixed amount of ADA from each block of transactions confirmed (epoch). It also reserves a portion of transaction fees. As Cardano…
