Monat: Januar 2025

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MEXC Strengthens Its Web3 Commitment with the Listing of Jambo (J), Empowering Emerging Markets

MEXC, the world’s leading cryptocurrency trading platform, announced the launch of the Jambo (J), an innovative on-chain mobile network project. The launch will be accompanied by Airdrop+ rewards of 28,000 J, 5,000 MX and 50,000 USDT.

Empowering Users with Jambo’s Scalable On-chain Mobile Solutions

Jambo is pioneering the development of the world’s largest on-chain mobile network through JamboPhone, a groundbreaking initiative designed to redefine decentralized finance in Africa. By leveraging cutting-edge blockchain technology, Jambo aims to enhance scalability, strengthen security, and improve user accessibility, creating a seamless gateway for millions of Africans to engage with Web3. This innovation not only democratizes access to digital financial tools but also fosters creativity and community growth. Jambo has already made impressive strides, with over 9.4 million wallets created, 772,118 phone orders, and a reach across 128 countries.

Through its token allocation mechanism, Jambo fosters participation in its ecosystem, helping build a sustainable and functional network. With growing demand in emerging markets, Jambo is positioned to expand its user base and continue developing its Web3 offerings, including potential satellite-related initiatives.

In line with its mission to drive blockchain innovation, MEXC takes pride in being among the first platforms to list transformative projects like Jambo. The listing of J underscores MEXC’s first-mover advantage in connecting users with high-potential blockchain ecosystems. By introducing Jambo (J) to its platform, MEXC reinforces its role as a gateway to emerging innovations, empowering the global cryptocurrency community.

To further support the growth of the Jambo ecosystem and community, MEXC will buy back MX tokens from the secondary market to reward users participating in the Jambo Airdrop+ event. This initiative highlights MEXC’s commitment to the development of the Jambo ecosystem while boosting the activity of its own community. Through the MX reward mechanism, MEXC not only aids Jambo in expanding its user base and strengthening its ecosystem but also underscores the platform’s long-term dedication to fostering mutually beneficial relationships between innovative blockchain projects and global users.

Celebrate the J Launch with a prize pool of 28,000 J & 5,000 MX & 50,000 USDT

MEXC will buy back its MX platform token from the secondary market to reward the Jambo community. To celebrate the launch of Jambo (J), MEXC is introducing four exclusive activities with generous rewards, starting on January 21, 2025, at 10:00 (UTC). Participants will have the chance to win J tokens, MX tokens, USDT bonuses, and other exciting benefits, with opportunities for both new and experienced users.

These activities include:

  • Event 1: Deposit and Share 20,000 J & 5,000 MX (New User Exclusive)

Deposit at least 150 J or 100 USDT to qualify.

Trade J Spot ($100) to earn 20 J each, or trade J Perpetual Futures ($500) to earn 5 MX each, limited to 1,000 users per activity, on a first-come, first-served basis.

  • Event 2: Futures Challenge — Trade to Share 50,000 USDT in Futures Bonuses.

The top 2,000 users with trading volumes over 20,000 USDT will share the pool, with rewards ranging from 10 USDT to 5,000 USDT.

  • Event 3: Invite New Users and Share 8,000 J.

Earn 20 J per referral for inviting new users who complete Event 1, up to 400 J per referrer.

  • Event 4: Spread the Word and Win 1,000 J Rewards

Follow @MEXC_Listings and participate in the social campaign on X to earn more rewards.

Your Easiest Way to Trending Tokens

MEXC aims to become the go-to platform offering the widest range of valuable crypto assets. The platform has grown its user base to 30 million by providing a diverse selection of tokens, high-frequency airdrops, and simple participation processes. In 2024, MEXC launched a total of 2,376 new tokens, including 1,716 initial listings and 605 memecoins, with total airdrop rewards exceeding $127 million.

MEXC, known for quickly listing trending tokens, expands its offerings with Jambo (J). The J/USDT trading market officially launched in the Innovation Zone on January 22, 2025, at 10:00 (UTC), followed by the introduction of the J USDT perpetual futures at 10:10 (UTC), offering adjustable leverage from 1x to 50x with both cross and isolated margin modes. Trade early on the J token pre-market page with MEXC before the official launch.

About MEXC

Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto”. Serving over 30 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, frequent airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.

MEXC Official Website｜ X ｜ Telegram ｜How to Sign Up on MEXC

The post MEXC Strengthens Its Web3 Commitment with the Listing of Jambo (J), Empowering Emerging Markets appeared first on CoinJournal.

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TORN price soars 170% after court overturned Tornado Cash sanctions

  • Court overturns Tornado Cash sanctions
  • The court’s decision limits OFAC’s power on tech control
  • TORN price jumps 170% to $21.34 post-ruling

In a landmark decision that could reshape the regulatory landscape for cryptocurrency, Texas court has overturned sanctions on Tornado Cash.

This has led to a dramatic 170% surge in the price of its native token, TORN, which now trades at $21.34.

This ruling by the Fifth Circuit Court of Appeals marks a significant victory for privacy in the crypto world, emphasizing the limitations of governmental oversight on technology.

The Tornado Cash controversy

The controversy began when the Office of Foreign Assets Control (OFAC) placed Tornado Cash on its blacklist, accusing the platform of facilitating money laundering for cybercriminals, including those linked to North Korea.

The sanctions effectively barred US entities from interacting with Tornado Cash, targeting 38 Ethereum smart contract addresses associated with the service.

However, the court has found that OFAC’s actions exceeded its authority under the International Emergency Economic Powers Act (IEEPA), which restricts sanctions to “property” rather than technology itself.

Judge Don Willett’s opinion was clear: while there are legitimate concerns about unlawful activities, the sanctioning of the platform’s technology was beyond OFAC’s jurisdiction. He argued that the immutable nature of Tornado Cash’s smart contracts meant they could not be considered “property” in the conventional sense, thus not subject to the sanctions imposed.

Implications of Tornado Cash’s legal victory

This legal victory for Tornado Cash not only overturned the sanctions, but also set a precedent regarding how privacy and software can be regulated. The court’s decision to allow US citizens to use Tornado Cash again was met with a warm market response.

The token TORN, which had been languishing under the weight of regulatory scrutiny, saw an unprecedented spike, reflecting investor optimism about the platform’s future.

The implications of this ruling extend beyond Tornado Cash. It sends a message about the balance between combating illicit activities and safeguarding technological innovation and privacy rights.

Industry leaders, including Coinbase’s Chief Legal Officer Paul Grewal, have celebrated the decision, suggesting a move towards more crypto-friendly regulations.

This case underscores the ongoing debate over privacy in the digital age, particularly with technologies like blockchain that promise both security and anonymity.

As the dust settles on this judicial decision, the crypto community watches closely, anticipating how this might influence future regulatory approaches to blockchain technologies and the broader implications for privacy rights in the United States.

The post TORN price soars 170% after court overturned Tornado Cash sanctions appeared first on CoinJournal.

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Donald Trump signs order, pardons Silk Road creator Ross Ulbricht

  • Ross Ulbricht was the creator of Silk Road, a darknet marketplace that sold illegal products and services
  • Ulbricht was arrested in 2013 and convicted in 2015 and sentenced to two life sentences plus 40 years without parole

President Donald Trump has signed and given a full pardon to Silk Road creator Ross Ulbricht who’s spent the last 12 years in prison.

In a post on his Truth Social platform, Trump wrote:

“I just called the mother of Ross William Ulbricht to let her know that in honor of her and the Libertarian Movement, which supported me so strongly, it was my pleasure to have just signed a full and unconditional pardon of her son, Ross.”

Trump added that it was “ridiculous” that Ulbricht was given two life sentences plus 40 years.

Upon hearing the news, the crypto community responded positively.

Representative Thomas Massie of Kentucky took to X to say: “Ross Ulbricht has been freed by President Trump with a full pardon! Thank you for keeping your word to me and others who have been advocating for Ross’ freedom, Mr. President! #freeRoss”

On the family’s Free Ross campaign account on X, it said:

“Ross was just granted a FULL AND UNCONDITIONAL PARDON by @realDonaldTrump. Words cannot express how grateful we are. President Trump is a man of his word and he just saved Ross’s life. ROSS IS A FREE MAN!!!!!”

Making promises

During Trump’s election campaign, he promised that he would release Ulbricht on day one if he was re-elected to the White House.

When it didn’t happen on day one, some Bitcoiners expressed their frustration, stating that he wasn’t a “man of his word.” US Senator Rand Paul even wrote Trump a letter urging him to pardon Ulbricht, several hours before the president announced the pardon.

Ulbricht created Silk Road in 2011 and operated the darknet marketplace that aided the sale of illegal services and products using Bitcoin until his arrest in 2013 by the Federal Bureau of Investigation.

Ulbricht was found guilty of charges including conspiracy to commit drug trafficking, money laundering, and computer hacking. He was convicted in 2015 and sentenced to two life terms and a separate 40 years without the possibility of parole.

The post Donald Trump signs order, pardons Silk Road creator Ross Ulbricht appeared first on CoinJournal.

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Circle acquires Hashnote, plans to integrate USYC

  • Circle acquires Hashnote for an undisclosed amount and plans to integrate USYC as collateral on crypto exchanges
  • Hashnote manages the largest Treasury note money market fund with $1.2 billion under management

Stablecoin issuer, Circle, has acquired Hashnote, a regulated asset manager that offers investors structured crypto products.

Hashnote is popular for USYC, its Hashnote US Yield coin.

According to a public statement on Circle’s website, the stablecoin giant acquired Hashnote alongside a strategic partnership with DRW, a global trading firm.

“Circle intends to fully integrate USYC with USDC, offering seamless access between TMMF collateral and USDC, one of the world’s most popular stablecoins”, the statement reads. “This will enable USYC to emerge as a preferred form of yield-bearing collateral on crypto exchanges, and also with custodians and prime brokers.”

About USYC

US Yield Coin is a tokenized representation of the Hashnote International Short Duration Yield Fund Ltd. (SDYF) which invests in reverse repurchase agreements on US government securities.

It’s the largest fund of its kind, with an AUM of $1.24 billion. USYC represents shares in the fund, which had an annual yield of 3.39% as of publication.

USDC and USYC integration

Circle plans to integrate USDC and USYC to enable interconvertibility between both assets, allowing USYC to be used as preferred collateral on exchanges and brokers.

According to Circle CEO, Jeremy Allaire, “We helped invent tokenized cash, and are now leading the way in tokenized money markets, both of which we believe will become essential to the future of the global financial system. Circle’s acquisition of Hashnote and our strategic partnership with DRW-affiliate Cumberland are crucial to driving and delivering these products at scale.”

Meanwhile, DRW, a liquidity provider and trading firm, will provide liquidity and settlement to USDC and USYC where needed.

The post Circle acquires Hashnote, plans to integrate USYC appeared first on CoinJournal.