Kategorie: Crypto Markets

Daily headlines and news about crypto markets.

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XRP, Solana surge amid reports of CME futures contracts

  • XRP and Solana prices rose as the market reacted to reports the CME planned XRP and SOL futures contracts.
  • Both altcoins traded to above key levels, with XRP above $3.26 and SOL above $269.

The prices of XRP and Solana rose slightly on Wednesday following news that institution-focused trading platform Chicago Mercantile Exchange will be listing XRP and SOL futures contracts.

XRP had jumped 3% to above $3.26 and Solana’s SOL surged by more than 6% to hit highs of $2.70 as at the time of writing. The altcoins were likely trading higher as investors reacted to news that the CME would be adding both XRP futures and SOL futures contracts on February 10, 2025.

Notably, the official CME website had not published the details of the said futures contracts. Bloomberg ETF analyst James Seyffart shared this via X.

Bloomberg senior ETF analyst Eric Balchunas also shared a post on X noting CME’s plans to launch he futures products. 

According to the analyst, the platform’s futures products await regulatory approval. Meanwhile, the move could see a Solana futures exchange-traded fund hit the market “as early as mid-March.”

However, with spot ETFs for the asset likely coming soon amid the shift in regulatory approach under new SEC leadership, it’s a matter of waiting to see how demand plays out down the road.

 

The post XRP, Solana surge amid reports of CME futures contracts 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.

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New memecoin Pengu Unleashed raise $1.5M in first day of presale

Pengu Unleashed (PUNGU) has officially announced the successful launch of its cryptocurrency token, marking a groundbreaking entry into the meme coin market by raising an impressive $1.5 million on the first day of its presale.

What makes PUNGU stand out?

At its core, Pengu Unleashed is about more than just hype. The project integrates advanced Layer 2 rollup technology like zk-rollups and optimistic rollups to cut down gas fees and speed up transactions. This means users can trade, stake, and build on the platform with minimal costs, all while staying secure.

But that’s not all. PUNGU is also on a mission to do good, pledging $1 million to penguin habitat conservation and climate change initiatives.

It’s a win-win: contribute to a greener planet while riding the next big wave in crypto.

Pengu Unleashed presale gains momentum as staking goes live

The early interest in Pengu Unleashed is reflected in its presale performance.

Launched this week, the presale has attracted over $1 million within the first 24 hours of going live.

The total raise now stands at almost $1.7 million.

Early investors can buy PUNGU tokens for $0.015 each during the current stage of the presale.

The Pengu Unleashed team accepts purchases in ETH and USDT.

$PUNGU is already making moves, securing listings on Tier 2 exchange BitMart and a soon-to-be-revealed Tier 1 exchange. These partnerships will make it even easier for investors to jump in and trade.

Meanwhile, presale participants are already staking their tokens to earn rewards ahead of the official launch.

Where to buy and what’s next

A growing community

PUNGU is already attracting attention online, with its Telegram channel reaching 4000+ members in 72 hours. Early adopters are locking in their positions, staking tokens, and preparing for the next steps in the roadmap.

With strong early momentum and an eye toward innovation, PUNGU is positioning itself as a standout player in the meme coin space.

Why investors are paying attention

PUNGU isn’t just a token, it’s an entire platform designed for decentralized applications (DApps). Developers can build with Ethereum-compatible tools, while PUNGU holders gain governance rights to shape the ecosystem’s future.

A lead developer summed it up perfectly:
“Memes are cultural artifacts, and Pengu Unleashed is building infrastructure to make them scalable and meaningful. By lowering the entry barrier for creators and developers, we’re enabling a new wave of decentralized creativity.”

However, its early presale success and positioning in the Pungu space make it a project that many investors are watching closely.

Media:

Twitter (X): https://x.com/pengu_unleashed

Telegram: http://t.me/pengu_unleashed  🐧

Where to buy PUNGU: pungu.io

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