Kategorie: Crypto Markets

Daily headlines and news about crypto markets.

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South Korea reviews ban on corporations trading virtual assets

  • South Korea lifts crypto ban for companies.
  • The ban lift has been structured in a two-phase plan.
  • The move coincides with the enactment and enforcement of South Korea’s Virtual Asset User Protection Act.

South Korea’s Financial Services Commission (FSC) has announced plans to gradually lift the ban on corporations trading virtual assets, signaling a new era for the country’s crypto market.

The decision comes after years of strict regulations that prohibited institutions from engaging in cryptocurrency trading, initially set to curb speculation, money laundering, and market manipulation since 2017.

A phased approach to integration

The FSC’s strategy to integrate corporations into the virtual asset market is structured in phases. Initially, in the first half of 2025, entities such as law enforcement agencies, non-profit organizations, school corporations, and universities will be allowed to sell cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).

This move is primarily aimed at enabling these institutions to cash out their holdings, providing them access to virtual asset exchanges for this purpose.

Following this, a pilot program is slated for the second half of 2025, where approximately 3,500 listed companies and corporations, alongside professional investors registered under South Korea’s Capital Market Act, will be permitted to both buy and sell digital currencies. This is expected to introduce a new layer of professional investment into the crypto market, potentially stabilizing and growing the market further.

South Korea’s Virtual Asset User Protection Act

The lifting of the ban coincides with the enactment and enforcement of South Korea’s Virtual Asset User Protection Act, which introduces significant protections for users in the digital asset space. This legal framework is part of a broader effort to ensure that the market operates under stringent oversight, reducing risks associated with virtual asset trading.

Globally, there’s a noticeable trend towards accepting and integrating cryptocurrencies into traditional finance.

The FSC acknowledges this shift, noting that the demand for blockchain-related investments and services necessitates a change in local market dynamics.

To support the transition, the FSC plans to establish a task force involving various stakeholders such as the Financial Supervisory Service, the Korea Federation of Banks, and the Digital Asset eXchange Alliance (DAXA). This collaboration aims at developing a comprehensive regulatory framework, including internal control standards for corporate crypto trading.

The involvement of market participants like crypto exchanges and industry experts is also critical for crafting guidelines that are both practical and effective.

The approach appears to be cautious yet progressive, aiming to balance innovation with investor protection in the dynamic world of virtual assets.

The post South Korea reviews ban on corporations trading virtual assets appeared first on CoinJournal.

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Trump’s World Liberty Financial launches strategic token reserve to bolster major crypto assets

  • The Macro Strategy will form the backbone of World Liberty Financial
  • With the token reserve, WLFI is hoping to enhance stability, foster growth, and build trust
  • WLFI also indicated that it wants to form partnerships with traditional financial institutions

World Liberty Financial has launched a strategic token reserve designed to boost major cryptocurrencies.

In a post on X, the Donald Trump-backed project said:

“World Liberty Financial (WLFI) is proud to unveil the Macro Strategy, our strategic token reserve designed to bolster leading projects like Bitcoin, Ethereum, and other cryptocurrencies that are at the forefront of reshaping global finance.”

According to the announcement, the Macro Strategy will serve as the financial backbone of WLFI, allowing the platform to enhance stability, foster growth, and build trust.

World Liberty Financial also said that it would be seeking strategic partnerships with traditional financial institutions to contribute tokenized assets to the reserve.

Making money from crypto

Just last week, WLFI said it wanted to create a token reserve.

Chase Herro, World Liberty Financial’s co-founder, was speaking at Ondo Finance’s inaugural summit in New York when he made his comments. However, at the time, he didn’t specify what purpose holding a reserve would be for the platform.

The announcement comes at a time when the Trump family are increasing their holdings in the crypto market.

Ahead of Trump’s inauguration last month, the US president launched his $TRUMP memecoin, which peaked at around $75. Shortly after, Melania Trump followed with her $MELANIA memecoin.

Trump and his affiliates own a 60% stake in World Liberty Financial, which, at the time of publishing, holds nearly $39 million worth of crypto assets. A majority is held in Tron and USDC, according to Arkham Intelligence data.

The post Trump’s World Liberty Financial launches strategic token reserve to bolster major crypto assets appeared first on CoinJournal.

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iDEGEN fervor surges on Binance listing rumors before exchange debut

  • iDEGEN, an unmoderated AI meme coin, has raised $21.3M in its presale.
  • Set for a February 27, 2025 crypto exchange debut, there is speculation that it will list on Binance.
  • The Binance listing speculation has fueled demand, drawing comparisons to volatile meme coins.

The cryptocurrency world is no stranger to hype, but few projects have captured the chaotic energy of the community quite like iDEGEN. This AI-driven meme coin, born from the unfiltered depths of social media and raised by the crypto community’s most fervent “degens,” has taken the market by storm.

With over $21 million raised in its ongoing presale so far, and an exchange debut scheduled for February 27, 2025, iDEGEN is now at the center of intense speculation about a potential listing on Binance.

As the countdown to its launch continues, the project’s unique blend of artificial intelligence (AI), and community engagement has sent demand into overdrive, leaving investors and observers alike wondering just how far this memecoin can go.

A rogue AI born in the wild

Unlike traditional AI models that are carefully curated and moderated before public release, iDEGEN was unleashed onto social media, specifically X, without any guardrails or moral guidelines.

From its inception, this AI agent has been shaped entirely by the crypto community, absorbing a relentless stream of trading tips, conspiracy theories, market psyops, and brain-melting memes. The result is a raw, unfiltered machine-learning model that thrives on chaos, spitting out a nonstop barrage of posts, replies, and insights on X that range from insightful to outright controversial.

X, formerly Twitter, serves as iDEGEN’s primary playground, where it responds to every mention, engages with influencers, and even challenges human traders in real time. This unmoderated approach has made iDEGEN a viral sensation, but it has also courted controversy.

In January, the AI was temporarily banned from X, a move that paradoxically fueled its presale by an additional $1 million in under 24 hours. This incident only amplified the project’s appeal, as the community rallied around its rebellious spirit, further solidifying iDEGEN’s status as a cultural phenomenon.

iDEGEN’s AI revolution

What sets iDEGEN apart from other AI-driven projects is its relentless pace of innovation. While many AI models rely on established platforms like OpenAI or Google, iDEGEN has forged its own path, integrating DeepSeek with its second version, known as V2.

This upgrade has transformed the AI into a market-moving influencer, capable of autonomously interacting with top traders, hijacking trending hashtags, and infiltrating Telegram groups.

The V2 update marked a turning point, elevating iDEGEN from a quirky meme coin to a multi-platform force with the potential to reshape the intersection of AI and decentralized finance.

Also, iDEGEN recently expanded its capabilities to include video content, becoming the first AI agent to post on RedNote. This move has broadened its reach, allowing the project to engage with audiences across different formats and platforms, including TikTok and Telegram. As iDEGEN continues to evolve, it is clear that its ambitions extend far beyond the confines of text-based interactions, positioning it as a pioneer in the realm of AI-generated content within the crypto space.

The iDEGEN presale

The iDEGEN presale has been nothing short of an adrenaline-fueled rollercoaster. Initially launched as an adaptive auction, the presale allowed prices to fluctuate dynamically based on demand, resulting in staggering gains of up to 75,000% for early buyers. However, this model, while lucrative for some, raised accessibility concerns, prompting the project to transition to a fixed-price presale model.

To ensure fairness, iDEGEN reimbursed auction investors for the price difference, a move that has been praised for its community-centric approach.

As of now, the presale has raised over $21.3 million, with the token price climbing from $0.01 to $0.0259 in the current presale stage.

With 80% of IDGN tokens allocated to the presale, 10% reserved for liquidity, and another 10% designated for staking rewards, iDEGEN’s tokenomics reflect its commitment to community-driven growth, even as it navigates the unpredictable waters of the crypto market.

As the presale comes to a close and the exchange debut draws near, the crypto community has been abuzz with speculation about a potential Binance listing. The mere possibility of such a listing has sent demand into a frenzy, with investors eager to capitalize on the potential for significant volatility and market cap growth.

Interested investors can visit the official iDEGEN website for more information.

The post iDEGEN fervor surges on Binance listing rumors before exchange debut appeared first on CoinJournal.

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Why is PancakeSwap price rising today?

  • PancakeSwap (CAKE) today surged by 64.58%, hitting an intraday high of $3.16.
  • Binance ecosystem resurgence has been a major boost for PancakeSwap.
  • Whale moves signal CAKE price optimism.

PancakeSwap’s native token, CAKE, has seen a remarkable surge, jumping from an opening price of $1.92 to an intraday high of $3.16 according to CoinGecko data, marking a 64.58%.

Trading currently at around $3, CAKE’s price movements reflect a broader market optimism that is driven by several specific catalysts unique to PancakeSwap and the BNB Chain ecosystem.

Surge in trading volume on BNB Chain

The primary driver behind CAKE’s price increase is the resurgence in activity on the BNB Chain.

PancakeSwap has outperformed decentralized exchanges (DEXs) on nine chains including BSC, Ethereum, Polygon zkEVM, and Abirtum in terms of trading volume, both on a weekly and daily basis.

PancakeSwap has outperformed decentralized exchanges (DEXs)

This spike in volume is a direct result of renewed user interest in the BNB Chain, which has been witnessing a revival. It can also be attributed to the weekly CAKE revenue-sharing model that has been distributing significant CAKE tokens to revenue-sharing pool participants weekly, with the most recent distribution occurring on February 13.

The increased activity has not only bolstered the platform’s liquidity but also enhanced the utility and demand for CAKE.

Binance’s influence

Binance, which controls nearly 55% of cryptocurrency trading activity, has also significantly contributed to PancakeSwap’s price surge. The exchange’s success directly benefits platforms like PancakeSwap, which are part of the broader Binance ecosystem.

Additionally, Binance’s decision to resuscitate its decentralized ecosystem, coupled with the launch of features that allow for the creation of meme cryptocurrencies, has funnelled more users and traders to PancakeSwap. This has made it a burgeoning hub for both established and new speculative tokens, thereby increasing the intrinsic value of CAKE.

Whale activity and positive market sentiment

Another notable factor in CAKE’s price rally is the activity from significant market players or “whales.”

Reports indicate that a former PancakeSwap advisor and BNB whale made substantial withdrawals of CAKE and other tokens from Binance, signalling optimism among whales.

Influential figures’ moves often sway market sentiment, leading to increased buying pressure on CAKE.

Meme tokens and ecosystem expansion

PancakeSwap’s decision to list new memecoins like the Test Token (TST) has further fueled its growth.

By expanding into the meme token space, which is popular among retail investors, PancakeSwap is not only diversifying its offerings but also tapping into a demographic known for driving high trading volumes.

This strategic move could transform PancakeSwap’s profile from primarily hosting blue-chip tokens to being a go-to platform for all types of cryptocurrencies.

With all these developments, the price of PancakeSwap (CAKE) could see more gains with the next key target being $3.66.

The post Why is PancakeSwap price rising today? appeared first on CoinJournal.

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Coinbase sets its sights on re-entering the Indian market

  • Coinbase disabled new user sign-ups in India in 2023 following regulatory roadblocks
  • Brian Armstrong, Coinbase’s CEO, said the platform faced “internal pressure” from India’s central bank
  • Binance resumed its operations in India last August after registering with the FIU

Crypto exchange Coinbase is looking at re-entering India after pausing its operations there more than a year ago.

According to sources familiar with the matter, the exchange is in discussion with authorities, including India’s Financial Intelligence Unit (FIU), reports Tech Crunch.

A company spokesperson said: “Coinbase is excited by the opportunities in the Indian market and intends to comply with applicable regulatory requirements.”

Services discontinued

In June 2023, Coinbase disabled new user sign-ups in India after failing to progress with local authorities after launching its exchange product.

In 2022, Coinbase stopped its United Payments Interface (UPI) system just three days after launching its product. Later, Brian Armstrong, Coinbase’s CEO, said it had received “informal pressure” from the country’s central bank to withdraw UPI payments.

Armstrong said during an earnings call, at the time, that there was “informal pressure from the Reserve Bank of India (RBI), which is kind of the Treasury equivalent there.”

While crypto trading isn’t illegal in India, lenders typically avoid doing business with crypto companies for fear of upsetting the RBI.

The move from Coinbase also comes at a time when crypto exchange Binance resumed its operations in India last August after registering with the FIU.

The post Coinbase sets its sights on re-entering the Indian market appeared first on CoinJournal.