Kategorie: Crypto News

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Terra founder Do Kwon appeals against extradition to South Korea and the US

  • Do Kwon appeals his extradition decision.
  • Kwon’s legal battle began on June 15 with a six-month detention for extradition.
  • The High Court recently approved requests from South Korea and the United States.

In some breaking crypto news, Terraform Labs co-founder, Do Kwon, has officially lodged an appeal against the recent extradition decision by the Montenegrin High Court.

This move introduces a new layer of uncertainty into the resolution timeline, challenging the Montenegrin Ministry of Justice to make a final decision before the looming deadline of December 15.

Do Kwon legal battle

On December 6, the Montenegrin Court of Appeal confirmed that Do Kwon submitted an appeal, expressing his refusal to accept the court’s decision to extradite him, as reported by local media. This appeal triggers a mandatory reexamination of the extradition ruling, placing the resolution timeline in question.

The legal saga began on June 15 when Kwon was initially detained for extradition for six months, with the Montenegral High Court approving the extradition requests from both South Korea and the United States just two weeks ago. The lack of specification in the decision as to whether Kwon would be extradited to Korea or the United States adds complexity, leaving the final determination to the Montenegrin Minister of Justice.

Despite Kwon’s expressed desire to be extradited to Korea, local observers in Montenegro are sceptical about the chances of overturning the decision. There’s a prevailing belief among Montenegrin officials that Kwon’s continued detention draws undue attention.

What next for Do Kwon?

The Montenegrin Court of Appeal’s forthcoming decision on the extradition appeal will be closely watched, holding the key to Do Kwon’s potential extradition destination—either Korea or the United States.

The appeal introduces uncertainty into the timeline, making it challenging for the Montenegrin Ministry of Justice to finalize a decision before the set deadline of December 15.

The situation remains fluid, and the legal community anxiously anticipates the resolution of this high-profile extradition case.

The post Terra founder Do Kwon appeals against extradition to South Korea and the US appeared first on CoinJournal.

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5IRE token launches on Bybit, pioneering sustainable blockchain era

  • The 5ire token (5IRE) has successfully debuted on the Bybit exchange.
  • With a community comprising entrepreneurs, developers, and sustainability advocates, 5ire emphasizes inclusivity and collaboration.
  • 5IRE has inked strategic collaborations with governments, universities, and enterprises globally, including the Government of India’s NITI Aayog.

In a groundbreaking move, the 5ire token (5IRE) has successfully entered the Bybit exchange, signalling a positive shift in the blockchain landscape.

This innovative cryptocurrency introduces a new paradigm, marrying profitability with a commitment to global sustainability.

What is 5ire?

At the heart of 5ire’s success is its unique approach grounded in the principles of the fifth industrial revolution. Unlike traditional blockchains notorious for energy consumption, 5ire adopts a Sustainable Proof of Stake (SPoS) consensus, prioritizing environmental consciousness. This groundbreaking consensus mechanism not only ensures profitability for investors but also financially rewards sustainable practices.

The 5ire community, comprising entrepreneurs, developers, and sustainability advocates, actively contributes to the platform’s growth, fostering inclusivity and collaboration. By emphasizing Environmental, Social, and Governance (ESG) factors, 5ire positions itself as a leader in ESG as a Service (ESGaaS), leveraging blockchain for streamlined measurement, reporting, and analysis.

5ire’s strategic partnerships and real-world impact

5IRE’s commitment to real-world impact is evident through strategic collaborations with governments, universities, and enterprises globally.

Notable partnerships, including one with the Government of India’s NITI Aayog, underscore the platform’s role in shaping the next generation of blockchain developers and promoting sustainability.

As 5IRE takes its place on Bybit’s trading platform, investors can actively participate in this innovative and environmentally conscious ecosystem. The live 5IRE/USDT trading pair on Bybit offers a secure and user-friendly avenue for investors to contribute to a greener and more innovative crypto landscape.

With a focus on economic and environmental sustainability, 5IRE stands as one of India’s fastest-growing unicorns, driven by a global community committed to creatively utilizing the 5ireChain—an EVM-compatible smart contract platform aligned with the United Nations Sustainable Development Goals (UN SDGs).

The post 5IRE token launches on Bybit, pioneering sustainable blockchain era appeared first on CoinJournal.

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Memeinator quickly sells out in stage 6, maintaining huge predictions in 2024

  • Memeinator has entered stage 7 of the presale as demand rises.

  • The presale delivers a 132% ROI in 29 stages.

  • Memeinator has up to 50x potential in the long term.

As 2023 tip toes toward the finish line, Memeinator (MMTR) is emerging as an invincible meme token contender. Investors have accumulated over $1.724 million up to stage 7, a few weeks after the presale was launched. Investors have made early gains, with the price now at $0.014, from its initial offering value of $0.01. Will the meme vibe and unique proposition make memeinator a 10x or more investment?

Welcome to the Memeinator world

“Your meme’s survival is not up to you. It’s up to me.” It’s a stark warning by one of the most ambitious meme crypto projects of our time. Needless to say, Memeinator has captured the attention of investors yearning for something from the ordinary.

Boosting cutting-edge AI technology and meme-targeting systems, Memeinator seeks to destroy its weak peers. In fact, Memeinator claims to have travelled back in 2077 with a mission to destroy memes with no future. The promise comes amid an uncontrolled growth of meme tokens that fail to give investors value.

Aided by AI, Memeinator will crawl the weak to find and crush memes that are not worthy of attention. The aim is to ensure the strongest survive, enabling investors to put their resources into worthy projects. 

The value proposition of Memeinator has attracted investors, with the quick presale showing it. As such, it could be a matter of time before Memeinator occupies a crucial role and leaves its own mark. But to what benefit?

132% ROI and price potential attract investors to Memeinator

Memeinator has been tantalising in presale, with its value increasing at every stage. Throughout a 29-stage presale, the value of Memeinator will have risen by 132%. When the token is listed on the best exchanges in 2024, early-bird investors will have scooped huge gains.

Memeinator also carries a huge potential post-listing. Very few projects have generated the demand and enthusiasm as Memeinator. The FOMO on a new novel crypto project means that the speculative value of Memeinator is high. Coupled with being a meme project, Memeinator could immediately take off after listing, generating gains. 

Additionally, Memeinator has diverse use cases that could help unlock its value. The team will launch a web 3.0 game at the end of the presale. Users play the game in intense enemy combats mimicking Memeinator’s meme destruction. The game cements Memeinator as a mainstay in Web 3.0, helping in the price discovery of its token. Memeinator is also expected to launch a staking feature and community NFTs. The utilities give its users diverse passive income opportunities.

Will Memeinator rise by 10X or more in the future?

While it is premature to speculate on the future value of Memeinator, there are signs of a big potential. Meme tokens attract a lot of interest because of their parabolic price movements when they are listed. By this analogy, Memeinator is no exception, as it has demonstrated potential in its early days. 

A potential 10x gain is possible since meme tokens have risen by similar margins and more. Over the long term, Memeinator will have a chance to prove its worthy cause. From there, the token could unlock a potential of up to 50x, cementing the status of a worthy meme project. The gains will be crucial to Memeinator attaining its $1 billion market cap target. The token could be among the best meme coins with such market value.

Should you buy Memeinator this week?

Memeinator’s presale is selling out quickly, as stage 6 underlined. The price rises at every stage, implying that an early investment is better. At stage 7, the price is $0.014 and will increase to $0.0148 next. As such, investing before the price rises gives a better return ratio in the presale.

The post Memeinator quickly sells out in stage 6, maintaining huge predictions in 2024 appeared first on CoinJournal.

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Binance halts AEUR stablecoin trading after a 200% surge days after listing

  • Binance abruptly halts AEUR trading.
  • The euro-pegged stablecoin experienced an extraordinary 200% surge just one day after its listing.
  • AEUR is supposedly backed by euro fiat assets.

Binance has abruptly halted trading on the AEUR stablecoin, pegged to the euro, as its value soared over 200%.

The unexpected surge on December 5 raised concerns, leading to a swift response from the exchange. This incident sheds light on the risks associated with stablecoins, particularly those with lower market caps and liquidity.

AEUR’s rollercoaster ride 

The AEUR stablecoin, pegged to the euro at 1:1, witnessed an unprecedented surge of over 200% on Binance, just a day after its listing. Initially trading around $1.08, mirroring the prevailing EUR-USD rate, the token’s value skyrocketed to $3.25 at 17:45 UTC.

Binance promptly suspended trading due to “abnormal volatility,” indicating concerns about the stability of the coin.

What is AEUR stablecoin?

AEUR is issued by Anchored Coins, a Switzerland-based subsidiary owned by Singaporean investor Calvin Cheng. Touted to be backed by euro fiat assets, the stablecoin boasts a $5 million market capitalization.

However, its sudden surge and subsequent trading halt underscore potential vulnerabilities. The coin’s lower market cap and limited liquidity create an environment where de-pegging and manipulation risks are heightened.

This unexpected incident on Binance serves as a stark reminder that stability challenges can afflict even seemingly secure stablecoins.

The post Binance halts AEUR stablecoin trading after a 200% surge days after listing appeared first on CoinJournal.

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Crypto market cap hits $1.61T as Memeinator token sale thrives

  • The cryptocurrency market cap has jumped to $1.61 trillion.

  • Data by CoinMarketCap shows that the valuation sits at $1.59 trillion.

  • Memeinator has raised over $1.7 million in the past few months.

Cryptocurrencies have become the best-performing assets this year with Bitcoin and other altcoins surging. Bitcoin is slowly nearing the psychological level of $45,000, a few months after it tumbled to $15,000. Ethereum, on the other hand, is comfortably above $2,300 while coins like ORDI, Aurora, and TokenFi have surged.

Crypto market cap is soaring

The surge in crypto prices has led to a big increase in the total market capitalization. Data compiled by CoinGecko shows that the total market cap has jumped to over $1.67 trillion. CoinMarketCap has a different figure, putting it at $1.59 trillion. 

Bitcoin has led the surge in this market capitalization since it stands at over $858 billion. If it was a company, Bitcoin would be the sixth biggest company in the world after Apple, Microsoft, Saudi Aramco, Alphabet, Amazon, and Nvidia. Bitcoin dominates over 53% of all digital currencies.

Ethereum is the second-biggest cryptocurrency with a market cap of over $272 billion. Other big coins that have driven the total market cap are Tether, BNB, XRP, and Solana. 

There are a few reasons why the crypto market cap has surged. First, it has rallied because of the rising hopes that the Securities and Exchange Commission (SEC) will approve a spot Bitcoin ETF. If it does this, there is growing optimism that companies will file for ETFs of cryptocurrencies like Ethereum, Ripple, and Solana.

Second, from a monetary policy stance, investors believe that the Federal Reserve has an opportunity to cut interest rates. If this happens, the view is that Bitcoin can survive in all market conditions since the initial surge happened in a low-interest rate environment. In a statement, an analyst told Bloomberg:

“What we’re seeing is a combination of the crypto cycle entering the bullish phase, the macroeconomic environment turning more favorable towards risk assets, and increasingly positive news about the incoming Bitcoin and Ethereum ETFs.”

Memeinator is thriving

The surge in cryptocurrencies has also led to demand for unlisted tokens. Memeinator, a new meme coin that seeks to become the next big thing, has scooped over $1.7 million from investors. They hope that the token will become as successful as other meme coins like Memecoin (MEME), Dogelon Mars, Pepe, and Bonk. 

Most of these meme coins have surged this year and created many millionaires along the way. Bonk is the 128th biggest cryptocurrency in the world with a market cap of over $422 million. Pepe is valued at over $672 million, which are huge figures.

Memeinator hopes to create value by incorporating both meme coin capabilities and artificial intelligence, two of the hottest themes in the industry. Therefore, there is a likelihood that the token will surge after its listing in the coming weeks. You can buy the MMTR token here.

Still, like all assets, investing in Memeinator carries some risks. The biggest risk is if the price crashes hard shortly after listing. If this happens, it is possible to have some losses. Therefore, the solution is to engage proper risk management strategies, including only allocating funds that you can afford to lose.

The post Crypto market cap hits $1.61T as Memeinator token sale thrives appeared first on CoinJournal.