Kategorie: Crypto Markets

• Hyperliquid has launched its native token HYPE and revealed a token distribution
• HYPE has a maximum supply of 1 billion tokens.

Decentralized perpetuals exchange Hyperliquid has officially unveiled its native token HYPE.

Hyper Foundation announced via a post on X that the token generation event for the HYPE token went live at 7:30 UTC on Friday, November 29, 2024.  

“The HYPE genesis event marks a key milestone in the journey, unlocking core functionality at every level of the stack,” the Hyper Foundation said in a blog post.

HYPE, which Hyper Foundation introduced in Oct.,  also includes a community airdrop.

Approximately 31% of the maximum supply of 1 billion tokens is set for genesis distribution and 38.89% for future emissions and community rewards. The project has allocated 23.8% to core contributors, 6.0% to the Hyper Foundation’s budget and 0.3% to community grants.

“Tokens will be emitted over time, with 76.2% going to the community. 310,000,000 tokens are allocated for eligible participants in the genesis event. These tokens will be fully unlocked,” the foundation wrote.

$HYPE, the native token of the Hyperliquid L1, is live. https://t.co/1UUU37WXUq pic.twitter.com/IYsWcAr53K

— Hyperliquid (@HyperliquidX) November 29, 2024

HYPE token distribution

Of the total supply, 388,880,000 will be unminted and go to Hyperliquid’s future emissions and rewards program. Meanwhile, HYPE reserved for core contributors will remain locked for a year after the genesis event. According to Hyper Foundation, there are no HYPE token allocations for private investors, centralised exchanges and market makers.

The launch of the native token comes as Hyperliquid looks to continue its growth trajectory, with eyes on rivals Jupiter and SynFutures. As the protocol’s native asset, HYPE will be key to Hyperliquid’s traction in decentralised finance applications.

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• Amrita Srivastava alleges she was dismissed from Binance a month after she informed managers about the bribery in April 2023
• Lawyers for Binance claim Srivastava was dismissed due to “poor performance”

A former senior executive at Binance has filed a lawsuit against the company’s UK section for unfair dismissal after raising concerns about an alleged bribe.

Amrita Srivastava said that she was unfairly dismissed after bringing the matter to management. According to Srivastava, a colleague had solicited bribes from a customer “under the guise of providing consultative services,” reports Bloomberg.

Srivastava alleges that she was dismissed from her position at Binance a month after she told her managers about the bribery in April 2023. However, according to Binance’s lawyer, Srivastava was dismissed due to “poor performance.”

In a statement, the lawyer said:

“The decision to end her employment for poor performance pre-dated concerns she raised about an issue that was already known and under investigation by our internal audit team.”

According to Bloomberg, the colleague in question has since left the company. In a witness statement, Srivastava said that she “was not prepared to look the other way when someone had defrauded a customer and yet was still a part of the team.”

This is the latest lawsuit against Binance. Last June, the US Securities and Exchange Commission (SEC) sued Binance for violating US securities laws by offering services to high-valued US customers on its platform.

In November 2023, the US Department of Justice sought more than $4 billion from Binance – after Binance’s former CEO Changpeng Zhao pleaded guilty to money laundering charges – to settle the criminal investigation against it.

As part of the DOJ settlement, Zhao resigned from his position. He later stepped down as Chair of the Board of Directors.

Zhao was later sentenced to four months in prison, which he has since served.

The post Ex-Binance employee sues exchange after whistleblower bribery claim appeared first on CoinJournal.

OpenAI, a leader in artificial intelligence (AI) development, has received a significant $1.5 billion investment from SoftBank, sparking renewed interest in AI-driven cryptocurrencies.

Meanwhile, a new player is emerging in the crypto AI space: iDEGEN, an innovative community-powered AI project. With dynamic pricing and decentralized control, iDEGEN promises to reinvent how AI interacts with crypto communities.

SoftBank’s $1.5B investment in OpenAI

On November 27, OpenAI announced it had secured a monumental $1.5 billion investment from SoftBank, a leading multinational investment firm.

This deal was part of a tender offer that allows OpenAI employees to sell shares, with SoftBank becoming a major stakeholder in the company. The tender offer not only provides liquidity for employees but also solidifies SoftBank’s commitment to the future of artificial intelligence.

As AI technologies continue to mature, OpenAI has emerged as a central player in the field, with its flagship projects like GPT-3 and DALL·E influencing industries worldwide.

The $1.5 billion deal further elevates OpenAI’s valuation, expected to exceed $157 billion, fueling speculation on how this will impact the broader AI ecosystem.

As a direct result of following the news of the SoftBank investment, the prices of AI-related cryptocurrencies such as Near Protocol (NEAR), Internet Computer (ICP), Bittensor (TAO), and Injective (INJ) have seen significant rebounds.

Market enthusiasts are optimistic that AI coins could see a sustained rally, benefiting from the ripple effects of OpenAI’s growing influence and SoftBank’s endorsement.

What is iDEGEN?

While OpenAI is securing its place in the AI industry, another project is making waves in the cryptocurrency space: iDEGEN. This AI-powered crypto project, born out of the chaos of meme culture, is revolutionizing the way AI interacts with crypto communities.

Unlike traditional AI models, iDEGEN evolves through interactions on X (formerly Twitter), where users can feed its data through tweets, tags, and comments. Every X post shapes iDEGEN’s understanding of the world, making it a living, breathing, and unpredictable entity.

What sets iDEGEN apart is its community-driven approach. The AI learns from the unfiltered thoughts and opinions of crypto enthusiasts, absorbing the culture of memes, trolling, and crypto madness.

The project’s motto, “shaped by the community,” underpins its core philosophy: iDEGEN is not just a token; it’s an AI that grows and adapts based on the contributions of its followers.

Currently, the iDEGEN project is in the midst of the presale of its native token $IDGN token, which features a dynamic pricing auction system.

Unlike traditional fixed-price token sales, iDEGEN’s presale price adjusts every five minutes based on market activity.

If an interested investor buys $IDGN tokens within five minutes, the price remains steady for the next period. However, if purchases occur consecutively, the price of $IDGN rises by 5%. Conversely, if there’s no activity within the five minutes, the price of $IDGN drops by 5%.

This real-time price fluctuation mirrors the unpredictability of the crypto market itself, creating a unique and thrilling experience for early investors.

At press time, the iDEGEN presale had raised close to $1M, with over 330 million tokens sold. The presale is expected to continue until January 1, 2025, when the token will list on major exchanges.

The future of AI and crypto as OpenAI and iDEGEN lead the market

OpenAI’s $1.5 billion investment from SoftBank signals the growing potential of AI technologies and their influence on the crypto space, while iDEGEN represents a paradigm shift in how AI can be integrated into the world of cryptocurrency.

By empowering communities to shape its evolution, iDEGEN is pushing the boundaries of what a decentralized AI project can achieve.

iDEGEN’s presale success and innovative token model highlight a growing trend of community-driven initiatives that could reshape both the AI and crypto industries in the years to come.

With major players like OpenAI and groundbreaking projects like iDEGEN leading the charge, the future of this dynamic sector looks incredibly promising.

The post SoftBank invests $1.5B in OpenAI as iDEGEN invigorates crypto AI appeared first on CoinJournal.

• Arbitrum launches a $1M Trailblazer AI Grant to support AI innovation on-chain.
• Grants of up to $10,000 are available for AI projects integrated with Arbitrum.
• The program fosters creativity with mentorship and access to Arbitrum’s community.

Arbitrum Foundation has unveiled the $1 million Trailblazer AI Grant Program, designed to fuel innovation and support developers building cutting-edge artificial intelligence (AI) agents and on-chain AI products on the Arbitrum network.

With this initiative, Arbitrum seeks to further solidify its position as the go-to platform for AI builders, offering low fees, high throughput, and low latency as key advantages for deploying AI solutions.

The Arbitrum Trailblazer AI Grant program

The program will award grants of up to $10,000 per project, with a focus on AI agents that are already integrated with Arbitrum’s decentralized infrastructure.

To be eligible, projects must demonstrate creativity, innovation, and impact, with the potential to drive user engagement, and ecosystem growth, and bring novel AI concepts to life.

The initiative encourages builders from a range of backgrounds—whether creating groundbreaking ideas or working with existing projects—to apply for the funding and mentorship opportunities available.

The Trailblazer AI Grant aims to onboard thousands of AI applications and agents, with a broad focus on diverse use cases.

Among the examples highlighted by Arbitrum are creative agents capable of generating art via Rust contracts on Stylus, self-upgrading agents, sophisticated trading bots that execute complex token trades, and strategic DeFi agents that devise multi-step DeFi strategies.

Other possibilities include community-engagement agents for DAO delegates or PvE gaming communities, as well as collaborative agents that delegate tasks to other agents in swarms.

The program not only provides financial support but also offers mentorship from industry experts, fostering a collaborative environment within the growing Arbitrum ecosystem.

Selected projects will have the opportunity to showcase their work to a global audience and benefit from the network’s vibrant community of developers and innovators.

By launching the Trailblazer AI Grant Program, Arbitrum continues to empower developers to explore the full potential of AI, ensuring the network remains a key player in the rapidly evolving landscape of AI innovation.

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