Monat: Dezember 2024

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Crypto.com launches crypto custody trust service for US and Canadian institutions

  • The crypto custody service will be available to eligible Canadian and US institutions and high-net-worth clients
  • The launch of the trust company is Crypto.com’s latest step in building their presence in Canada and the US

Crypto.com has launched a crypto custody service designed to help build its presence in Canada and the US.

According to a company statement, the Crypto.com Custody Trust Company will offer services to eligible Canadian and US institutions and high-net-worth clients.

“Launching a US trust company is our latest significant step in our product roadmap to building our business and presence in two of the most important and active crypto markets in the world – the US and Canada,” said Kris Marszalek, co-founder and CEO of Crypto.com.

Additionally, the statement noted that “over the coming weeks” digital assets held by all Canadian and US customers will move to Crypto.com Custody Trust Company.

Earlier this month, Marszalek met with President-elect Donald Trump at his Mar-a-Lago property to discuss policies potentially affecting the cryptocurrency industry, Congress, and the incoming administration. They also discussed the Bitcoin reserve.

At the time, a Crypto.com spokesperson said: “We look forward to working with the new administration to develop and advance clear regulations for the crypto industry so the US can become a global leader in digital assets and innovation.”

The meeting with Trump came the same day Crypto.com dropped its lawsuit against the US Securities and Exchange Commission (SEC). In October, the crypto platform filed a lawsuit after receiving a Wells notice.

The post Crypto.com launches crypto custody trust service for US and Canadian institutions appeared first on CoinJournal.

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Ether approaches $3,500 as major altcoins outperform Bitcoin

Key takeaways

  • Ether has increased more than 3% in value in the last 24 hours, approaching the $3,500 mark.
  • The iDEGEN pre-market auction has officially surpassed $8 million after selling nearly 1.1 billion tokens. 

Ether eyes $3,500 as altcoins show signs of recovery

Ether, the second-largest cryptocurrency by market cap, is up 3% in the last 24 hours. The positive performance allowed it to hit the $3,400 mark after underperforming over the weekend. At press time, the price of Ether stands at $3,407 per coin. 

The rally comes as Bitcoin continues to underperform. BTC is down 1% and is still trading below $95k per coin. Other major altcoins, including BNB, XRP, Chainlink, Hedera (HBAR), and SUI, show strong signs of recovery following the market’s recent slump. 

What is iDEGEN?

Bitcoin is currently in a lull, with altcoins showing signs of strong recovery. This could see more investors shift their attention to altcoins as many predict the start of the altcoin season. 

iDEGEN could become one of the best-performing altcoins thanks to its merger of the AI and memecoin ecosystems. iDEGEN is a meme project that leverages the benefits of AI in a bid to create the next billion-dollar memecoin. 

It is a tool designed to learn, evolve, and adapt by leveraging community feeds on X. While iDEGEN is powered by AI, degens ultimately raise the tool. 

Memecoins have gained massive adoption in recent years and have become a $45 billion ecosystem. With its growing importance in the crypto space, meme coins could rally higher in the coming altcoin season.

iDEGEN is launching as a memecoin to leverage the growth of this ecosystem. The iDEGEN tool has a simple working mechanism. Users feed the tool their data through tweets, tags, and comments. It absorbs the post and adds it to its knowledge base; that’s how it learns. Furthermore, the tool posts on X every 60 minutes and can generate and post memes. 

Read more about the project here.

iDEGEN’s presale surpasses $8.5 million

The iDEGEN pre-market auction continues to attract more funding as more investors open their wallets. Over the last few weeks, the project has raised $8.59 million, selling nearly 1.1 billion $IDGN tokens. 

The team adopted a pre-market auction method to enable early investors to record excellent gains. Using this method, the price adjusts every five minutes based on market activity. 

They explained that the price will remain steady for the next period if an investor purchases $IDGN tokens within five minutes. However, if purchases occur consecutively, the price will rise by 5%. Finally, if no one buys the tokens within five minutes, the price will drop by 5%.

The pre-market auction will end on January 1, 2025. The token will then be listed on crypto exchanges. 

Is it too late to invest in the iDEGEN project?

The iDEGEN pre-market auction will end in a few days. Over $8.5 million has been raised so far. Furthermore, the $IDGN token has increased in value by over 500% in recent weeks and could surge even higher once it launches on exchanges. 

iDEGEN will launch on the first day of 2025 and could be one of the best-performing projects of the year. The project could deliver excellent gains to early investors thanks to its AI and memecoin combination. 

As a blockchain project, iDEGEN prioritises transparency. For this reason, the iDEGEN website has a live pre-market listing price, enabling investors to track the token’s progress accurately before its launch on trading platforms.

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Avalon Labs raises $10m in series A round

Avalon Labs, the issuer of Bitcoin (BTC)-backed stablecoin USDa, has secured $10 million in a Series A financing round that attracted several venture capital firms.

“We are known for many things but today is not about us. The team from Avalon Finance is honored to announce the closing of our 10M Series A Round,” the platform posted on X.

Venture capital firm Framework Ventures led the funding round, which attracted the participation of UXTO Management, Prestoby Framework Ventures and Kenetic Capital.

In an announcement, the Avalon Labs team said the project will use the funding support to expand its BTC decentralized finance ecosystem.

In this case, Avalon’s aim is to evolve Bitcoin from being just a digital store of value to a robust financial instrument.

“We are pioneering the future of Bitcoin-backed financial solutions, creating the first comprehensive ecosystem that unlocks the true potential of the world’s leading cryptocurrency” the Avalon team wrote.

Avalon’s USDa stablecoin allows users to tap into DeFi on Bitcoin by collateralizing it. The platform’s borrowing rate is fixed at 8%, which allows USDa holders to access liquidity while keeping their BTC positions.

USDa, Avalon’s flagship collateralized debt position (CDP), ranks as the second-largest CDP per data from DeFiLlama. Its TVL hit $700 million in early December and its competitors include MakerDAO’s DAI and Liquity

The post Avalon Labs raises $10m in series A round appeared first on CoinJournal.

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USUAL token price soars after Binance Labs investment

  • Binance Labs has revealed its investment in the $10 million Series A USUAL funding round.
  • Following the revelation, the USUAL token price has soared by over 20%.
  • Another key player that participated in the funding round is Kraken.

The USUAL token, the governance currency of the innovative Usual protocol, has experienced a remarkable 20% price surge following the revelation of a strategic investment by Binance Labs.

The token’s value climbed from $1.05 to $1.26, elevating its market cap to over $592 million in just over a month since the protocol’s launch, according to CoinMarketCap data. Over the past 24 hours, trading volume exceeded $644 million, underscoring the market’s growing interest in the project.

Binance Labs invested in the $10M Series A funding round for USUAL

Although Binance Labs did not disclose the exact amount it has invested in USUAL in its announcement, the investment is part of the $10 million Series A funding round, co-led with Kraken Ventures and other prominent investors.

The funding will accelerate Usual’s mission to innovate the stablecoin sector and expand the adoption of DeFi solutions.

Pierre Person, CEO of Usual Labs, expressed optimism about the collaboration, stating that the investment aligns with their vision to make the stablecoin market more community-centric and technologically advanced.

Binance Labs’ Investment Director, Alex Odagiu, praised Usual’s unique approach, highlighting its potential to set a new benchmark for inclusivity and empowerment within the crypto space. “Stablecoins are a vital gateway into the ecosystem, and Usual’s model pushes the boundaries of what they can achieve,” he said.

As part of Binance Launchpool’s 61st project, USUAL tokens are now available to users who stake BNB or FDUSD, with a rewards pool of 300 million tokens. This initiative reflects Usual’s dedication to fostering user engagement and solidifying its position as a transformative force in decentralized finance.

Why investors are pouring into USUAL

Usual is redefining the stablecoin market with a community-first approach.

Unlike traditional issuers, the protocol is committed to redistributing value and ownership among its users, allocating 90% of $USUAL tokens to the community. This innovative model emphasizes decentralization and inclusivity, offering users governance power and a share in the protocol’s revenue.

At its core, the Usual protocol introduces a novel decentralized stablecoin backed by real-world assets (RWAs) such as US Treasury Bills. The stablecoin, USD0, is designed to deliver both security and liquidity, integrating seamlessly into decentralized finance (DeFi) ecosystems. The inclusion of RWAs shields users from banking risks while promoting transparency and stability.

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La Rosa Holdings to allow real estate agents to receive commissions in crypto

  • La Rosa agents can now receive commissions in cryptocurrency with a 2% fee.
  • The initiative aims to streamline transactions and meet the demand for crypto payments.
  • La Rosa reported a 155% revenue growth, hitting $51.7M in the first nine months of 2024.

La Rosa Holdings Corp. (NASDAQ: LRHC), a leading technology-integrated real estate company, has announced a groundbreaking initiative to enable its network of over 3,000 real estate agents in the United States to receive commissions in cryptocurrency. This positions La Rosa as a pioneer in integrating blockchain technology into the real estate sector.

Real estate agents will have the option to receive payouts in digital assets, including Bitcoin (BTC), under a 2% fee structure. The plan addresses the growing demand for alternative payment options and reflects the company’s commitment to innovation.

By leveraging blockchain technology, La Rosa aims to streamline transactions, enhance security, and reduce associated fees.

In a press release announcing the initiative, Alex Santos, the Chief Technology Officer of La Rosa said, “Our intention to introduce cryptocurrency payments represents a natural evolution in our commitment to innovation and broker empowerment. Blockchain technology has the potential to simplify real estate transactions while offering agents and clients unmatched flexibility.”

Joe La Rosa, the company’s CEO, emphasized that cryptocurrency payments could lead to faster, more secure transactions while offering agents the potential to benefit from digital asset appreciation.

“This initiative not only positions La Rosa at the forefront of technological innovation in real estate but also creates new opportunities for our agents,” said La Rosa. “We are proud to empower our network with cutting-edge solutions while meeting the growing demand for alternative payment methods.”

La Rosa Holdings, which operates 25 corporate offices across the US and Puerto Rico, has seen remarkable growth, with a 188% year-over-year revenue increase in the first nine months of 2024, reaching $51.7 million. The company’s flexible business model offers agents a choice between a 100% commission plan and a revenue-sharing model.

By integrating cryptocurrency payment options, La Rosa Holdings continues to lead the charge in redefining real estate transactions, ensuring its agents remain competitive in a rapidly evolving marketplace.

The post La Rosa Holdings to allow real estate agents to receive commissions in crypto appeared first on CoinJournal.