Kategorie: Crypto Markets

• INJ 3.0 went live on the mainnet today, Injective announced.
• Injective price rose slightly after the vote, hitting highs of $29.15.

Injective (INJ) has announced that the INJ 3.0 upgrade is now live on the mainnet following a historic on-chain vote.

According to the layer-one blockchain’s team, IIP-392 passed with the highest percentage of approval for such an upgrade, and Injective is now in a new era.

“INJ 3.0 is officially live on mainnet, allowing $INJ to become one of the most deflationary assets in all of crypto. Over the next two years, the supply of INJ will be decreased on an accelerated pace,” the L1 blockchain posted on X.

INJ 3.0 is officially live on mainnet, allowing $INJ to become one of the most deflationary assets in all of crypto.

Over the next two years, the supply of INJ will be decreased on an accelerated pace.

A new era of Injective begins now. pic.twitter.com/oHOIZm2i3h

— Injective 🥷 (@injective) April 23, 2024

Injective upgrade INJ 3.0 key to network

Injective’s tokenomics system changes as a result of the vote, with the inflation parameters changed to 4% for the lower inflation bound and 7% for the upper inflation bound.

The new parameters ranks Injective among the most deflationary assets in the industry, with INJ deflation jumping 400% over the next two years.

IIP-392 was introduced on April 19 and featured a governance proposal that sought to bring controlled reduction in Injective’s inflation rate via incentives and token scarcity. The changes, which went live after voting ended today April 23, put the network in a position where the network can swiftly react to fluctuations in staking.

These changes come after Injective launched its Vulcan upgrade in January this year. Today’s deployment of INJ 3.0 saw the token’s price rise slightly to hit $29.15 before retreating to $27.63.

INJ traded around $28.58 at the time of writing, with a 24-hour volume of $98.3 million.

The post Injective’s INJ 3.0 upgrade goes live after community passes proposal appeared first on CoinJournal.

• The US Securities and Exchange Commission (SEC) seeks a $5.3 billion judgement against Terraform Labs and co-founder & CEO Do Kwon.
• Terraform Labs filed a motion for settlement at $3.5 million; dO Kwon offered $800,000.

The US Securities and Exchange Commission (SEC) is after a $5.3 billion judgement against Terraform Labs and its co-founder and CEO Do Kwon.

SEC recently filed a motion in the US District Court for the Southern District of New York, outlining the disgorgement and civil penalties it wants imposed against Terraform Labs and Kwon.

The $5.3 billion amount includes $4.7 billion in disgorgement and prejudgment interest following the recent fraud verdict against the crypto company.

Terraform Labs offers $3.5 million, Do Kwon $800,000

SEC also seeks $520 million in civil penalties, of which the SEC wants $420 million imposed against Terraform Labs and $100 million against Kwon. The securities watchdog has also filed for injunctions against Kwon, seeking a ban against him taking any executive roles in the market.

The regulator also wants Kwon to comply with full financial disclosures requirements.

SEC’s filing and suggested charges contrast massively to that of the Terraform Labs and Kwon. In their brief, the company and the detained Kwon proposed civil remedies of $3.5 million, while Kwon offered just $800,000.

The proposed penalties and civil remedies await judicial approval, with this the next step after the jury’s verdict on April 5, 2024. The verdict was that Do Kwon and his company was liable for defrauding investors, particularly offering misleading statements about the stablecoin TerraUSD (UST), crypto token Luna (LUNA) and wLUNA.

LUNA and UST’s collapse in 2022 saw a massive contagion across crypto. Do Kwon went on the run before being arrested in Montenegro in May 2023. He remains in custody amid potential extradition – Kwon is wanted by both the US and South Korea.

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• Ledger and MoonPay have expanded their partnership to offer crypto swaps and buy via Ledger Live.
• The companies will also offer a custom Nano X for MoonPay.

Ledger will offer access to instant crypto purchases to its Ledger Live users in its latest partnership with crypto payments firm MoonPay.

The development is part of MoonPay’s expanded collaboration with the hardware wallet maker, according to details shared in a news release on Monday.

Easy crypto swapping via Ledger Live

MoonPay said in an announcement that the platform will become a Ledger feature partner, enabling the instant purchase of crypto. The partnership also brings MoonPay Swap and MoonPay Sell to Ledger Live, providing for crypto swaps and sell, with crypto-fiat transfers. 

Coins that users can swap include Bitcoin (BTC), Ethereum (ETH) and Solana (SOL) among others.

Other milestones for the two companies will be the release of a custom Nano X for MoonPay. The limited-edition release for “Ledger x MoonPay” Nano X will include crypto vouchers and Ledger Recover subscription.

“Expanding our partnership with Ledger allows more people to leverage MoonPay’s seamless Web3 solutions while benefiting from Ledger’s safety offerings – further enhancing the crypto experience for current and future users,” said MoonPay co-founder and CEO Ivan Soto-Wright.

Ledger and MoonPay are expanding on the partnership struck in 2021, which saw the launch of MoonPay-enabled Ledger Live’s crypto buy feature.

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• FTX to auction the remaining locked Solana (SOL) tokens.
• The last SOL token sale by FTX attracted significant buyer interest.
• Figure Markets confirms it will participate in the auction.

The embattled FTX cryptocurrency exchange is set to auction the remaining locked Solana (SOL) tokens from its estate. The decision follows the success of the previous sale, which generated significant interest from buyers.

The upcoming auction has been confirmed by Mike Cagney, the CEO of Figure Markets and board chair of Figure, who disclosed that the decentralized exchange will take part in the auction.

Figure Markets introduces SPV investment opportunity

To facilitate Figure Markets’ participation in the upcoming SOL auctions from the FTX estate, Figure Markets has unveiled a Special Purpose Vehicle (SPV) open to non-US investors (subject to KYC) and accredited US investors.

The SPV will operate based on community consensus, where each dollar invested equals one vote in determining bid prices and subsequent management decisions.

Investors interested in participating in the SPV can do so using USD, USDC, BTC, or ETH. Figure Markets will charge a 50 bps annual management fee to cover the costs of setting up the SPV and ongoing management. Additionally, while there’s no confirmed timeline yet, Figure Markets intends to integrate the SPV into their exchange, allowing investors to use their investment as collateral for borrowing and margining.

By offering this investment opportunity, Figure Markets aims to provide investors with a streamlined way to participate in the auction of locked Solana tokens from the FTX estate. With the SPV structure, investors can have a say in bid prices and subsequent management decisions, creating a community-driven approach to investment in the cryptocurrency space.

FTX’s previous Solana (SOL) token sale

The success of FTX’s previous SOL token sale to industry giants like Pantera and Galaxy Digital cannot be understated.

With approximately $2.6 billion generated from selling two-thirds of its locked Solana tokens at around $60 per token, the FTX estate made significant gains from the sale.

For the investors, considering Solana’s current price hovering around $153, the decision to buy in previous Solana sales appears to have been a prudent one.

However, the volatile nature of cryptocurrencies calls for careful consideration and risk management especially seeing that the unlocking of huge amounts of tokens could create a surplus in supply and unless the demand goes through the roof, the token price could plummet.

The post Figure Markets CEO confirms FTX’s auction of remaining locked Solana (SOL) appeared first on CoinJournal.

• Ape Terminal, one of the top IDO platform’s in the market, has cancelled crypto betting platform ZKasino’s IDO.
• This unfolds as the broader crypto community is showing greater resilience amid Bitcoin’s halving.
• A few projects are however attracting as much attention as new crypto trading solution Bitbot.

As Bitbot matches towards a highly successful presale, investors flocking to it are likely buoyed by what the project promises in the wake of events surrounding ZKasino, a decentralized betting network.

While the ZKasino team says the project will still launch as expected, it’s likely to face challenges with regard to community trust after the rug pull allegations and exchange listing delays. 

Bitbot brings non-custodial trading and anti-rug pull features to crypto

Bitbot is one of the few emerging crypto projects that are pushing for market dominance. In particular, Bitbot’s eyes are on the Telegram bot space, which analysts have predicted could explode as crypto prepares for the bull market proper.

What makes Bitbot stand out in the market is its pioneering non-custodial trading feature.

PAAL AI, Banana Gun, PaLM AI and Unibot have seen significant success since their launch. However, none of these solutions offer the industry-leading security that Bitbot pioneers with its non-custodial Telegram bot.

When the bot launches in coming months, users will not only have the peace of mind of retaining full control of their assets as they trade, but also tap into additional security layers provided by anti-rug pull and anti-MEV tools.

So it’s not just Bitbot’s non-custodial solution or its AI-powered trading tools, but also the protection users can get with the anti-rug pull feature. Bitbot team’s transparency also adds to this positive outlook for the project, likely the reason the presale has raced to over $2.7 million.

Ape Terminal cancels IDO for ZKasino (ZKAS)

Following concerns around a potential rug pull, IDO platform Ape Terminal announced it had cancelled ZKasino’s initial DEX offering.

Ape Terminal’s statement comes after ZigZag, a decentralised P2P orderbook exchange, published concerns about ZKasino and a potential $32 million rug pull.

Meanwhile, ZKasino participants have reportedly been unable to withdraw their money as the platform’s team has moved all 10,515 ETH from the deposit contract to Lido.

Amid these allegations, some exchanges have announced paused listing plans of the ZKasino token ZKAS. Crypto exchange MEXC announced it would cancel ZKAS listing on Saturday.

A lot of FUD going around.

The ZKasino network will still go live, it has been delayed due to exchange listings.

— ZKasino (@ZKasino_io) April 20, 2024

Ape Terminal said on April 21 that participants who opted into the crypto betting platform’s DEX offering will receive a refund of their assets. Stablecoin claims are open, the platform posted on X.

Bitbot presale could be key opportunity

The Bitbot native token BITBOT will power the new trading bot, providing users with another investment opportunity. Top of this is the chance to earn a share of platform revenue. Other perks are outlined via the project’s whitepaper.

Currently, BITBOT token is priced at just $0.0163 in stage 11. As highlighted in the project’s whitepaper, the presale price is scheduled to rise to $0.020 in stage 15, the final presale stage.

Bitbot’s launch will see it stand out as the only non-custodial Telegram trading bot in the market. Already, there’s a strong community building around the project as its presale moves towards an end and the next few weeks could be an early opportunity for investors.

To learn more about Bitbot, go to the official website.

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