Kategorie: Crypto Markets

• zkSNACKs restricts Wasabi Wallet access for U.S. citizens and residents.
• Decision follows arrests of Samourai Wallet and Tornado Cash founders.
• Move aims to mitigate legal risks amidst regulatory scrutiny.

In response to recent legal actions and regulatory scrutiny, zkSNACKs, the developer behind the privacy-focused Wasabi Wallet, has decided to restrict access to its services for United States users.

This move comes amidst growing concerns within the cryptocurrency community following the arrests of individuals associated with other privacy-enhancing wallet services, such as Samourai Wallet and Tornado Cash.

Arrests of the founders of Samourai Wallet

The decision to block access for U.S. citizens and residents was announced in a blog update by zkSNACKs, citing recent developments involving other privacy-focused wallet services.

Specifically, the arrests of the founders of Samourai Wallet on charges of money laundering, as well as the arrest of Tornado Cash co-founder Roman Storm on allegations of money laundering and sanctions violations, have raised red flags within the cryptocurrency ecosystem.

These legal actions have put privacy-focused wallet developers under increased scrutiny from regulatory authorities, who are concerned about the potential misuse of these tools for illicit activities such as money laundering.

While privacy-focused wallets offer users enhanced anonymity and security when transacting in cryptocurrencies, they have also attracted attention from law enforcement agencies seeking to crack down on illegal activities in the crypto space.

By proactively restricting access to users from the United States, zkSNACKs aims to mitigate any potential legal risks and ensure compliance with relevant regulations.

The post Wasabi Wallet developer bars U.S. users amidst regulatory concerns appeared first on CoinJournal.

• Pantera Capital has purchased more Solana (SOL) from the FTX bankruptcy estate.
• FTX is auctioning off SOL, with more tokens to be sold to winning bidders.

Pantera Capital has acquired another stockpile of Solana (SOL) tokens at discounted prices from the FTX bankruptcy estate, Bloomberg reported.

The $5.2 billion crypto venture capital firm, secured the new stash of locked SOL after emerging one of the winners in the ongoing auction of Solana tokens.

Pantera, alongside crypto firm Galaxy Digital, scooped more of the altcoin in last month’s $1.9 billion SOL auction. Today’s report says the company has purchased additional tokens from the 2,000 SOL FTX sold this week.

FTX’s estate held over 41 million locked SOL worth more than $6 billion, and the bankruptcy estate’s greenlight to sell has attracted a lot of attention from institutional buyers. Pantera has looked to buy more SOL and has reportedly earmarked up to $250 million for this.

Solana (SOL) price

Solana (SOL) fell below $10 in the wake of FTX’s implosion and bankruptcy filing in November 2022.

 The cryptocurrency rose sharply through 2023, outperforming peers as former FTX CEO Sam Bankman-Fried faced criminal charges and was found guilty. Bankman-Fried was sentenced to 25 years imprisonment in March.

SOL also benefitted from an explosion of meme coins on the blockchain network, with Bonk and dogwifhat standout tokens in late 2023 and early this year.

Solana’s price has however declined from its multi-year highs above $200 reached in March. Currently, its trading around $142, down 23% in the past 30 days and 2% in the last 24 hours.

SOL price could retreat to recent support around $125 amid supply-side pressure, while a bullish flip could propel it towards the recent peak.

The post Pantera Capital buys more Solana (SOL) from FTX appeared first on CoinJournal.

• China investigating Yao Qian, the former head of the Digital Yuan project.
• Local media reports say Yao is under probe for “violations of discipline and law.”

Yao Qian, a leading Chinese blockchain expert who previously spearheaded China’s Digital Yuan program, is reportedly under government investigation.

The Digital Yuan is a central bank digital currency (CBDC) project that sparked other countries towards similar efforts. 

Local media reports say China’s anti-graft agency is probing Yao for alleged “violations of discipline and law.”

Ex-Digital Yuan boss under probe

Yao led the Chinese central bank’s CBDC effort before exiting the PBOC in 2018 to join the Securities Regulatory Commission.

On Friday, state-run news agency Shanghai Securities News, reported:  

“Yao Qian, Director of the Science and Technology Supervision Department and Director of the Information Center of the China Securities Regulatory Commission, is suspected of serious violations of discipline and law and is currently under investigation by the Central Committee.”

The report did not provide details of the investigation.

China’s probe against the SRC official comes a few weeks after Yao’s recent opinion piece in a local financial news outlet, The Block noted.

His article was titled “Warnings Mount Over Novel Bitcoin ETFs That Have Taken the US by Storm”. The publication went live on Chinese financial media outlet Caixin.

The ex-CBDC chief published a book covering multiple crypto topics, including the decentralised autonomous organisation (DAO), decentralised finance (DeFi), non-fungible tokens (NFTs) and X-to-earn.

The post China’s former CBDC chief is under government investigation appeared first on CoinJournal.

• The Franklin OnChain FOBXX investors can now transfer the fund’s BENJI token directly between each other without any intermediary.
• Franklin Templeton is competing with BlackRock’s Ethereum-based BUIDL fund in the tokenized assets niche.
• Franklin Templeton maintains a 32% market share.

In a move that marks a significant advancement in the realm of digital asset management, Franklin Templeton has announced the tokenization of its US Government Fund on the Polygon and Stellar blockchains.

By embracing blockchain technology, Franklin Templeton aims to enable peer-to-peer transfers for shares in its Franklin OnChain United States Government Money Fund (FOBXX) using BENJI token.

One BENJI security token is a share of the Franklin OnChain U.S. Government Money Fund recorded on a public blockchain and it is currently available on Polygon and Stellar.

Franklin Templeton competing with BlackRock

Franklin Templeton’s initiative comes amidst a competitive landscape, with BlackRock’s new BUIDL fund emerging as a formidable contender in the tokenization space.

Partnering with Securitize on Ethereum, BlackRock’s BUIDL fund has swiftly garnered market share, albeit slightly trailing Franklin Templeton’s offering in terms of Assets Under Management (AUM).

The competition between these two investment giants is poised to intensify as they vie for dominance in the tokenized U.S. Treasuries niche. At the moment, Franklin Templeton maintains its stronghold in the tokenized U.S. Treasuries niche, boasting a substantial market share of 32%.

Expanding utility in the digital asset ecosystem

The tokenization of Franklin Templeton’s US Government Funds signifies a strategic move towards enhancing connectivity within the digital asset ecosystem.

By enabling peer-to-peer transfers of BENJI tokens, the firm aims to broaden the utility of its fund, allowing investors greater flexibility in managing their assets. The move underscores Franklin Templeton’s commitment to leveraging blockchain technology to innovate and adapt to evolving market trends.

The post Franklin Templeton tokenizes $380M fund on Polygon and Stellar for P2P transfers appeared first on CoinJournal.