Kategorie: Crypto News

• Toncoin price surged more than 18% after Telegram founder Pavel Durov got approval to leave France.
• As the Telegram and Toncoin community celebrated, TON price rose to highs of $3.48.

Toncoin (TON) price rose sharply after Telegram founder Pavel Durov, who has been under judicial scrutiny in France, reportedly received permission to leave the country.

At the time of writing, TON, the native token of The Open Network, was up 18% at $3.48. The token traded as one of the top gainers in the past 24 hours, with daily volume rising 216% to over $514 million.

Durov’s latest legal-related news largely contributed to this scenario.

Telegram founder Durov allowed to travel to Dubai

Durov, indicted in Paris for complicity in criminal activities linked to his encrypted messaging platform, left Le Bourget Airport near Paris on Saturday. According to sources cited by a local news outlet, authorities had returned Durov’s passport.

The TON Foundation also confirmed the development, with permission granting Durov’s freedom to leave at his discretion.

Here’s what TON Foundation wrote on X:

“TON Foundation is delighted to learn that Pavel Durov’s passport has been returned to him by French authorities, granting him the freedom to leave the country at his discretion.”

Per the reports, the investigating judge overseeing Durov’s case accepted the request to modify the Telegram founder’s  judicial supervision. The court authorised Durov to exit France for “several weeks.”

Durov’s departure to Dubai, where Telegram is headquartered, follows months of stringent judicial oversight. This  includes a 5-million-euro bail, bi-weekly police check-ins, and a ban on leaving French territory. The Telegram founder has been in France since his arrest in August 2024.

The charges against him stem from allegations that Telegram has been used to facilitate organized crime, a claim Durov has contested, promising to enhance the platform’s moderation efforts.

TON’s upside comes after a broader market dip that saw Bitcoin (BTC) break under $80k. The top crypto trades above $84k though. The Toncoin price is seeing volatility similar to what happened in August when French authorities apprehended Durove.

While the altcoin remains well below the all-time high of $8.20 reached in June 2024, the nearly 20% uptick is great news for investors.

However, Durov is still expected to return to France after several weeks. In this case, the altcoin may experience notable volatility. Traders may need to be keen on overall crypto market conditions.

The post Toncoin soars after France returns Telegram founder’s passport appeared first on CoinJournal.

• RedotPay announced it secured $40 million in Series A round led by Lightspeed, with HSG, Galaxy Ventures, and others joining.
• The crypo fintech, launched in 2023, plans to use the funds to accelerate the adoption of crypto payment solutions.

RedotPay, a crypto payment platform looking to bridge web3 and traditional finance, announced the completion of a $40 million Series A funding round.

Venture capital platform Lightspeed led the round, with this following their commitment in December 2024. RedotPay also attracted several top VC players for the round, including HSG, Galaxy Ventures, DST Global Partners, Accel, and Temasek-backed Vertex Ventures.

RedotPay eyes crypto payments adoption

Founded in April 2023, RedotPay has swiftly risen as a vital alternative for the unbanked, now serving over 3 million registered users worldwide.

The company aims to forge a borderless payment ecosystem, blending fiat and cryptocurrencies seamlessly. Its innovative approach allows users to spend digital assets with the ease of traditional payment methods, a strategy that has fueled its rapid adoption.

“Our team takes pride in empowering millions globally with financial access while bridging the gap between fiat and crypto,” said Michael Gao, co-founder and chief executive officer of RedotPay. “As we scale our platform capabilities, we look forward to partnering with Lightspeed, HSG, Galaxy, and our other strategic investors to expand our reach and accelerate financial empowerment worldwide.”

Lightspeed’s Pinn Lawjindakul, Partner, expressed enthusiasm for the collaboration:

With the fresh capital, RedotPay plans to enhance its ecosystem, boost compliance, and expand globally. “We don’t just build products. We solve real problems for our users,” Gao added, underscoring the platform’s impactful mission. PwC advised RedotPay on this financing round.

Earlier this year, RedotPay teamed up with Visa and StraitsX to launch a crypto credit card aimed at digital asset payments adoption in Singapore.

This milestone in February 2025 added to the company’s Virtual Asset Service Provider (VASP) registration in Lithuania. RedotPay’s full registration, obtained from Lithuania’s Financial Crime Investigation Service (FCIS) in December 2024, allowed RedotPay to formally enter the European market.

Notably, Binance Pay recently partnered with xMoney to expand crypto payments across the European Union.

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• ZKsync has cancelled the second season of its incentive program, Ignite.
• Bearish market conditions among other reasons led to the move.
• ZKSync will distribute all remaining rewards as of March 17, 2025.

ZKsync announced on Friday that it had cancelled the second season of its liquidity program, Ignite.

The zero-knowledge-powered layer 2 protocol revealed that the move comes amid the current bearish market conditions, which have notably annihilated sentiment and seen prices plummet.

Per ZKsync, the decentralised finance incentive program will halt on March 17, 2025.

“After careful consideration, the DeFi Steering Committee (DSC) has decided to not renew Ignite for Season 2 and will be sunsetting the program starting March 17th, 2025 by turning off rewards for period 6,” the ZKSync team noted via a thread on X.

The DeFi Steering Committee (DSC) cited multiple reasons for sunsetting Ignite. It includes the cryptocurrency market’s bearish conditions. This has prompted ZKsync to adopt a more conservative spending approach in the short to medium term, the platform noted.

Why halt Ignite?

Taking a cautious approach aims to ensure the sustainability of the ZKsync and Elastic Network ecosystem. It’s a move that will see protocol avoid unnecessary expenditure against prevailing headwinds.

ZKSync added in the update on X:

“Unfortunately we’re navigating a bearish market right now. In line with many other ecosystems, ZKsync has decided to be more conservative with spend in the short to medium term in response to these evolving conditions. To stay sustainable, we’re tightening our focus and spending smarter, rather than fighting headwinds.”

Focus on Elastic Network

Additionally, ZKsync is redirecting resources toward its long-term vision: the Elastic Network, an expanding verifiable blockchain network powered by zero-knowledge proofs. The team believes that continuing to invest heavily in the single-chain Ignite program no longer aligns with this goal, especially as native interoperability across the Elastic Network—crucial for seamless cross-chain interactions—faces delays.

The Ignite program, launched to boost liquidity on ZKsync Era and position it as a DeFi hub, has served its purpose but is now deemed less critical given these technological and market realities.

ZKSync will distribute all remaining rewards by March 17, 2025, with service provider contracts concluding by March 30, 2025.

The ZKSync token traded slightly higher despite the news, with ZK hovering near $0.06982 at the time of writing on March 14. The altcoin’s price was up nearly 5% in 24 hours. However, after a recent sell-off, it remained 16% down in the past week.

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• MoonPay secures Wisconsin Money Transmitter License (MTL).
• Wisconsin is the 46th US state to grant MoonPay an MTL.
• MoonPay has also been making strategic acquisitions to enhance its crypto services.

In a significant step toward expanding its footprint across the United States, cryptocurrency payment platform MoonPay has secured a Money Transmitter License (MTL) from the Wisconsin Department of Financial Institutions.

gotta catch ‚em all!

the Wisconsin Department of Financial Institutions has granted MoonPay a Money Transmitter License

for Wisconsin residents, your experience buying crypto just got even better ~ especially when you use MoonPay Balance pic.twitter.com/40hAspQkwr

— MoonPay 🟣 (@moonpay) March 14, 2025

Announced on March 14, 2025, this approval marks a milestone in MoonPay’s ongoing efforts to bring its services to more American users.

With this license, Wisconsin residents can now tap into MoonPay’s offerings, including the ability to deposit funds into MoonPay Balance for fee-free crypto purchases, barring ecosystem and network fees.

Leveraging the growing crypto demand in Wisconsin

Wisconsin, the 20th most populous state in the nation, has shown a burgeoning interest in cryptocurrency adoption. Notably, it made headlines last year as the first state government to purchase Bitcoin (BTC), signaling a progressive stance toward digital finance.

MoonPay’s entry into the state aligns with this trend, providing residents with a seamless platform to engage with cryptocurrencies.

The license enhances MoonPay’s ability to operate legally within Wisconsin, offering a secure and efficient way for users to bridge traditional finance and the decentralized world of crypto.

Notably, the Wisconsin license brings MoonPay’s total count of Money Transmitter Licenses (MTLs) to 46, reflecting its aggressive push to secure regulatory approvals across the US. This follows recent licenses obtained in states like Texas, where the company expanded services late last year.

Ivan Soto-Wright, MoonPay’s co-founder and CEO, emphasized the importance of this milestone, stating, “With this license, we reinforce our commitment to compliance and consumer-first innovation.” He added that the approval strengthens MoonPay’s position as a fully regulated platform, a critical factor in building trust among users and regulators alike.

It is important to note that MoonPay’s focus on compliance comes at a time when the cryptocurrency industry faces increasing scrutiny from US regulators, although there has been some reprieve since Donald Trump assumed office.

By proactively securing MTLs, MoonPay positions itself as a leader in the space, distinguishing itself from competitors that have struggled with regulatory hurdles.

MoonPay has been expanding its reach through strategic acquisitions

Beyond its regulatory achievements, MoonPay has been bolstering its capabilities through strategic acquisitions.

Recently, the company acquired Iron, a stablecoin infrastructure startup, to enhance its enterprise payment solutions. This move, aimed at facilitating instant and low-cost stablecoin transactions, marks MoonPay’s second major acquisition in two months.

Stablecoins are changing global payments.@moonpay just acquired @iron to supercharge our solution with stablecoin infrastructure. Faster, cheaper, borderless payments – everywhere.

Our second major acquisition in two months (hi @helio_pay 🤝)!@ivanhodl on @CNBC 👇 pic.twitter.com/gCkRk1j8W3

— Charlotte Laborde (@ChaLaborde) March 14, 2025

In January, MoonPay purchased Helio, a crypto payment firm that has processed over $1.5 billion in transactions since its inception, for approximately $175 million.

These acquisitions highlight MoonPay’s ambition to bridge traditional and decentralized finance, offering users a more robust and versatile platform.

Notably, the integration of Helio’s technology and Iron’s stablecoin expertise positions MoonPay to meet the needs of both individual consumers and enterprise clients. For Wisconsin residents, this could translate into an even richer crypto experience as MoonPay rolls out enhanced features.

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