Der frühere Binance-Chef Changpeng Zhao wurde am 22. August in ein Resozialisierungsprogramm verlegt, ehe er Ende September in Freiheit kommt.
Anchorage Digital adds rewards for PayPal USD holders
- Anchorage Digital, a federally-chartered crypto bank, has added support for rewards for holders of the stablecoin PayPal USD (PYUSD).
- PYUSD holders can earn the rewards by custodying their tokens with Anchorage Digital, or through the Porto wallet.
Anchorage Digital has introduced a stablecoin rewards program, allowing holders of the PayPal USD (PYUSD) stablecoin to earn rewards.
The program will benefit customers who custody their PYUSD at the crypto bank, or use the platform’s new institutional self-custody wallet Porto.
Anchorage Digital announced the feature in a blog post published on Aug. 22.
“Crypto innovators want to put their treasury cash to work but cannot compromise on asset security or accessibility. That’s why Anchorage Digital is proud to work with PayPal, a publicly-traded company with a proven track record in crypto innovation to launch Anchorage Digital’s stablecoin rewards program featuring PYUSD,” Nathan McCauley, chief executive officer and co-founder of Anchorage Digital said.
The Anchorage Digital CEO added that the platform will collaborate with protocols, foundations, venture capital firms and startups to support and unlock access to the PYUSD rewards program.
“Anchorage Digital and PayPal share a common vision of providing secure and efficient payment solutions for institutions that maximize the value of their digital assets and expand PYUSD’s utility and benefits for institutional customers,” Jose Fernandez da Ponte, SVP and general manager of blockchain, crypto, and digital currencies at PayPal, added.
Support for Solana, ZKsync
PayPal USD is a 1:1 US dollar-pegged stablecoin that launched in 2023. The Paxos Trust Company, regulated in the US, issues the PYUSD token that’s fully backed by USD deposits, US Treasuries as well as similar cash equivalents. PayPal allows the purchase and sale of the stablecoin on its platform.
Anchorage Digital recently added custody support for zero-knowledge cryptocurrency ZKsync.
The federally chartered crypto bank also announced support for Solana (SOL) and SPL tokens in early August. According to details shared at the time, expansion to Solana allows institutions to securely custody SO and SPL tokens.
PayPal USD went live on Solana in May 2024.
The post Anchorage Digital adds rewards for PayPal USD holders appeared first on CoinJournal.
Babylon Bitcoin staking drives BTC fees higher as mainnet launches
- Babylon’s Bitcoin staking launch on August 22 drove transaction fees to $132-$137.
- Over 12,700 stakers quickly filled the “locking-only phase” of Babylon’s program.
- Babylon raised $70M in May 2024, following an $18M Series A in December 2023.
On August 22, Babylon, a pioneering Bitcoin staking system, marked a significant milestone with the launch of the first phase of its self-custodial mainnet.
The self-custodial mainnet allows Bitcoin (BTC) to be staked via smart contracts, extending its utility beyond its traditional roles as a medium of trade and a store of wealth.
Bitcoin transaction fees rise from under $1 to $137
The debut of Babylon’s staking program led to a notable surge in Bitcoin transaction fees. Early on August 22, the average fee was under $1, but it skyrocketed to between $132 and $137 as the staking system went live.
This dramatic increase was driven by a rush of users eager to participate, resulting in a fee bidding war and pushing transaction costs close to $140, according to CryptoQuant analyst J.A. Maartun.
Live chart 👇https://t.co/6uifYvuvvP
— Maartunn (@JA_Maartun) August 22, 2024
Babylon introducing Bitcoin into a PoS ecosystem
Babylon’s initiative aims to introduce Bitcoin into a proof-of-stake (PoS) ecosystem, offering users the opportunity to earn yield by depositing their crypto directly onto PoS networks.
The initial “locking-only phase” of Babylon’s staking system was quickly filled to capacity, with over 12,700 stakers and 20,610 solo delegates already participating. This rapid uptake highlights growing interest and confidence in the platform’s potential.
The successful launch of Babylon’s staking program underscores its ambition to redefine Bitcoin’s role in the broader crypto landscape, particularly within decentralized finance (DeFi). The move aligns with increasing institutional interest in cryptocurrencies, as evidenced by recent approvals of Bitcoin spot ETFs and significant institutional investment.
Babylon’s funding journey has been equally impressive. Following a $18 million Series A round in December 2023, the platform secured an additional $70 million in funding in late May 2024, led by Paradigm and supported by other prominent investors. This financial backing reinforces the project’s potential and solidifies its place in the evolving Bitcoin ecosystem.
The post Babylon Bitcoin staking drives BTC fees higher as mainnet launches appeared first on CoinJournal.
OmegaPro co-Founder arrested in Turkey charged with $4 billion Ponzi scheme
- Andreas Szakacs, the OmegaPro co-founder, was arrested in Turkey.
- Authorities have traced $160M in crypto transactions and seized computers and cold wallets.
- A Dutch investor has reported losing $7M with and over 3,000 others losing $103M in the alleged fraud.
Andreas Szakacs, the co-founder of OmegaPro arrested in Turkey, is facing serious allegations of orchestrating a massive Ponzi scheme.
OmegaPro, a firm that claimed to invest in cryptocurrency and forex, reportedly defrauded investors out of a staggering $4 billion before its collapse in late 2022, coinciding with the notorious fall of the FTX exchange.
Computers and 32 cold wallets recovered
Szakacs, who adopted the name Emre Avci after obtaining Turkish citizenship, was apprehended by Turkish authorities following a significant investigation into OmegaPro’s activities. The arrest came after an anonymous tip-off prompted a series of raids across Istanbul.
Authorities seized computers and 32 cold wallets linked to Szakacs, although he reportedly did not provide the necessary access codes to these digital assets.
Investigators have traced $160 million in cryptocurrency transactions to his operations.
Impact of OmegaPro’s alleged fraudulent activities
The allegations against OmegaPro surfaced earlier in the year when regulatory bodies in different countries including France, Belgium, Spain, and Argentina issued warnings about the company’s fraudulent practices.
Szakacs has vehemently denied the accusations, asserting that his role was confined to finance and marketing, not fraud.
However, the scale of the alleged scheme has led to widespread scrutiny and regulatory reassessment in the global cryptocurrency sector.
Abdul Ghaffar Mohaghegh, a Dutch national who lost $7 million in the scheme, has claimed to represent over 3,000 investors who collectively lost more than $103 million.
This extensive network of affected individuals highlights the far-reaching impact of OmegaPro’s alleged fraudulent activities and underscores the urgent need for enhanced regulatory measures to protect investors in the crypto market.
The case has prompted a global reassessment of cryptocurrency regulations. In response, countries are considering new legislation aimed at increasing transparency and accountability within the crypto sector.
As investigations continue and more details emerge, the fallout from this case could significantly reshape the landscape of financial technology and investor safeguards.
Turkey, in particular, is moving to establish a comprehensive regulatory framework designed to prevent similar schemes in the future.
The post OmegaPro co-Founder arrested in Turkey charged with $4 billion Ponzi scheme appeared first on CoinJournal.
Bitcoin (BTC) Open Interest gewinnt dank erhoffter Leitzinssenkungen stark hinzu
Das Open Interest von Bitcoin hat in kürzester Zeit massiv hinzugewonnen, was darauf schließen lässt, dass die Anleger auf eine baldige Leitzinssenkung der US-Zentralbank hoffen.