Kategorie: Crypto News

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IOTA announces $100 million Ecosystem DLT Foundation in the UAE

  • IOTA continues strategic expansion with first DLT Foundation in the UAE’
  • The IOTA Foundation will allocate $100 million to the initiative.
  • IOTA price was rallying after the news, up 50% at the time of writing.

IOTA’s strategic expansion has reached another milestone with the registration of the first DLT foundation in the United Arab Emirates (UAE).

The IOTA Foundation first announced plans for the foundation in September, highlighting registration with the Abu Dhabi Global as a step that would aid IOTA’s expansion in the Middle East and North Africa (MENA) region. The news came as the IOTA price spiked more than 50% to above $0.26.

IOTA Foundation allocates $100 million to initiative

Per today’s announcement, an investment of over $100 million has been allocated for the DLT Foundation, with the funding done in IOTA tokens. These will be vested over the next four years as the foundation looks to nurture innovation and adoption of the IOTA protocol.

The funding will also go towards community-driven projects and regulatory synergy, the IOTA Foundation said. Among initiatives to receive greater attention will be those targeted at IOTA and Shimmer, its staging network.

On what this means for IOTA’s push to align with regulatory developments, IOTA co-founder Dominik Schiener, said:

“The IOTA Foundation’s support from ADGM and our partnership with UAE authorities is about more than global expansion. It’s about ushering in a new era of regulatory synergy in the crypto markets. We want to ensure that we take the right steps toward digital autonomy for everyone, and that means making sure a diversity of communities take an active role in shaping the Foundation’s technology and governance.”

IOTA’s partnership with the ADGM comes as the UAE increasingly becomes an important international crypto destination. As a leading financial center, the country has attracted several blockchain and crypto-related companies.

Today, stablecoin issuer Paxos announced it had secured two in-principle approvals from the Financial Services Regulatory Authority (FSRA). The company is now set to issue stablecoins and provide brokerage and custody services in the ADGM.

The post IOTA announces $100 million Ecosystem DLT Foundation in the UAE appeared first on CoinJournal.

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Paxos receives two new in-principle approvals in Abu Dhabi

  • Paxos has received two in-principle approvals from the Financial Services Regulatory Authority in the Abu Dhabi Global Market (ADGM).
  • The company will issue USD-pegged stablecoins as well as crypto brokerage and custody services.

Blockchain infrastructure firm Paxos has scored another regulatory milestone as it expands its reach globally.

On Wednesday, the New York-based company announced it had secured two preliminary approvals to issue stablecoins in Abu Dhabi.

Paxos regulated in the Abu Dhabi Global Market

Specifically, the Financial Services Regulatory Authority in the Abu Dhabi Global Market (ADGM) has granted Paxos two in-principle approvals not just for stablecoin issuance, but also for crypto brokerage and custody services.

Paxos will offer these products and services via to FSRA-regulated entities. The agency will also regulate the stablecoin and tokenization company’s services offered out of the ADGM.

“Today’s announcement marks yet another milestone in Paxos’ ability to provide billions of users with safe and trusted digital asset services. Our IPAs from the FSRA, on the heels of our IPA from the Monetary Authority of Singapore, solidify our commitment to pursuing international growth through regulated frameworks,” Walter Hessert, head of strategy at Paxos, said.

Paxos has partnerships with PayPal, Mastercard, Nubank, Bank of America Mercado Libre, and Societe Generale among other crypto and financial industry players. The company issues various US dollar pegged stablecoins, including PayPal USD (PYUSD), Pax Dollar (USDP) and Pax Gold (PAXG).

In February, the company terminated its relationship with Binance over the branding and issuance of Binance USD (BUSD). This followed an order from the New York Department of Financial Services (NYDFS).

The post Paxos receives two new in-principle approvals in Abu Dhabi appeared first on CoinJournal.

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Duelbits announces partnership with football star Luis Suarez

  • Duelbits has announced a strategic alliance with Luis Suarez, a Uruguayan national team and former Liverpool and FC Barcelona star.
  • The online casino and sports betting platform will use the partnership in a brand campaign across the globe.
  • Duelbits has partnerships with Aston Villa and the Argentina national team.

Duelbits, a crypto sportsbook and online casino platform, has announced a partnership with football star Luis Suarez.

According to details shared with CoinJournal, the partnership is part of Duelbits’ global expansion and will see Suarez champion the platform’s campaigns. 

Duelbits will use Suarez’s image in its brand campaigns as they celebrate the former FC Barcelona, Liverpool and Atletico Madrid striker’s remarkable career, the company said in the press release.

Suarez, who currently plays for Gremio in Brazil, is a Champions League and Copa America. The Uruguayan also played for Ajax. He has scored more than 500 goals in professional matches, winning the Golden Boot twice.

“Joining forces with Duelbits is a proud moment for me. It’s more than a partnership; it’s a shared vision of excellence and trust. I look forward to what we will achieve together,” Suarez said in a statement.

Duelbits to offer $100 welcome offer

Launched in 2020, Duelbits has seen its footprint in the crypto casino and sportsbook industry. The deal with the football star adds to other landmark collaborations, including with Argentina’s national team and English Premier League’s Aston Villa.

The betting platform will mark the strategic alliance with a $100 welcome offer to new members, with its CEO, Marco Pinnisi, saying the company is keen to push crypto betting to the next level.

“We are ecstatic to welcome Luis Suarez to the Duelbits family. His unparalleled achievements and our platform’s promise of an exceptional betting experience are a perfect match. We’re paving a new path for the future of crypto gambling together,” Marco Pinnisi said.

According to details on their website, Duelbits supports several deposit methods. Other than PayPal and Visa, supported crypto include Bitcoin (BTC) Ethereum (ETH) and Litecoin (LTC) among others.

The post Duelbits announces partnership with football star Luis Suarez appeared first on CoinJournal.

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SHIB burn rate soars, PEPE market cap nears $500M, as Memeinator token presale thrives

  • Shiba Inu has removed over 260 million tokens in the past 24 hours.
  • PEPE Coin’s market cap approaches $500 million.
  • Memeinator’s MMTR token presale gains traction, featuring regular price increases.

There have been significant developments in the world of meme coins with Shiba Inu (SHIB) witnessing a remarkable surge in burn rate, PEPE Market Cap approaching $500 million, and Memeinator’s MMTR token gaining momentum during its presale.

In this article, we delve into the latest occurrences surrounding Shiba Inu (SHIB), PEPE Coin, and the Memeinator (MMTR) token.

SHIB burn rate skyrockets by 20,000%

The Shiba Inu (SHIB) community is abuzz with the recent surge in token burn rate. According to data on the Shibburn website, SHIB’s burn rate skyrocketed by a staggering 20,000%, resulting in the removal of over 260 million tokens in the past 24 hours.

This record-breaking burn rate, unseen in the last two months, underscores the commitment to reducing the token supply.

However, despite the remarkable burn rate, SHIB’s price has yet to reflect substantial gains, currently consolidating with a 5% decrease on a weekly basis.

PEPE market cap approaches $500 Million

In a separate development, Pepe Coin (PEPE) has surged back into the limelight, with its market cap approaching a formidable $500 million. Following a downtrend, PEPE witnessed a remarkable revival in October 2023, doubling its market capitalization. At press time, the meme coin’s market cap was $458,176,826 according to data from Coinmarketcap.

The coin’s unique features, including a deflationary mechanism and redistribution system, contribute to its appeal.

As PEPE continues to attract attention, experts speculate on potential future price increases, with the advancement of the Shibarium layer-2 blockchain solution considered a key factor.

Memeinator MMTR token presale thrives

Meanwhile, the Memeinator project is making waves with its MMTR token presale. Leveraging cutting-edge technology, AI insights, and a mission to eliminate subpar memes, Memeinator aims to be the ultimate meme coin.

During its presale, MMTR token prices are experiencing regular increases every few hours, contributing to the token’s momentum. The project also introduces innovative products like the Memescanner and the Memeinator game, adding utility beyond the meme trading space.

For those eager to participate in the Memeinator MMTR token presale, the process is straightforward; connect your wallet, select a payment method from available networks, such as Ethereum or Binance Smart Chain, or use a card for payment, and buy your MMTR.

Those who purchase the MMTR tokens during the presale can claim their tokens at the end of the presale using the same wallet used for the purchase. Details for the collection will be communicated closer to the end of the presale in Q4 2023.

Adding to the rising MMTR price, Memeinator regularly runs competitions that are open to anyone, including flagship competitions for MMTR token holders. For more information about Memeinator and its presale, visit the official website here.

The post SHIB burn rate soars, PEPE market cap nears $500M, as Memeinator token presale thrives appeared first on CoinJournal.

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New altcoin steals the show as Bonk surges on KuCoin listing and Dogecoin’s on-chain rises

  • Bonk (BONK) price rising after KuCoin listing.
  • Dogecoin’s on-chain activity resurges.
  • Additionally, Dogecoin’s DOGE-1 mission to the moon has been approved.

Recent meme coins’ developments have stirred excitement and intrigue among cryptocurrency investors and enthusiasts alike. This news update covers the notable surge in Bonk (BONK) following its listing on KuCoin, the approval of the Dogecoin-funded DOGE-1 Mission to the Moon, and the resurgence of Dogecoin (DOGE) with a surge in on-chain activity.

Additionally, we delve into the ongoing presale of Shiba Memu (SHMU), a unique meme token with self-sufficient marketing capabilities.

Bonk (BONK) soars on exchange listing

Cryptocurrency investors witnessed a remarkable surge in the price of Bonk (BONK) as it jumped following its listing on the crypto exchange KuCoin.

At the time of writing, BONK had risen by 18% in the last 24 hours, reaching $0.00000451.

The KuCoin listing announced through a tweet by Bonk, triggered increased liquidity and accessibility for users and investors. The listing celebration includes a campaign with a BONK prize pool worth $58,000 for qualified users, fostering further engagement within the community.

Dogecoin’s moon mission DOGE-1 gets NTIA approval

In another groundbreaking development for meme coins, the Dogecoin-funded DOGE-1 Mission to the Moon has achieved a significant milestone by receiving approval from the National Telecommunications and Information Administration (NTIA).

This clearance is a crucial precursor to obtaining the final Federal Communications Commission (FCC) license, addressing the X-Band and S-Band communications for the satellite. Set to launch on December 23 as part of Astrobotic’s Peregrine Mission One, the mission marks a collaborative effort with payloads from prestigious entities, including NASA.

Dogecoin’s on-chain activity surge

In addition to the positive news about its moon mission, Dogecoin (DOGE) is also experiencing a resurgence in popularity, marked by a notable increase in on-chain activity.

According to on-chain analytics firm IntoTheBlock, the number of addresses holding Dogecoin has surpassed five million, reaching a new peak of 5.11 million addresses.

The surge is accompanied by a doubling of active addresses, reaching 168,000—the highest since March 2022. Confirmed transactions on the Dogecoin blockchain have spiked, experiencing a remarkable 1,000% increase in the past 10 days. Despite a recent price decline, the heightened on-chain activity indicates growing interest from institutional investors and large holders.

Shiba Memu (SHMU): the new meme coin disrupting the market

Shiba Memu (SHMU), though a new meme coin, stands out with its self-sufficient marketing capabilities powered by AI technology. Currently, in the presale phase, Shiba Memu aims to revolutionize meme token marketing by creating its own strategies and engaging with users directly through an innovative AI dashboard.

The presale is coming to an end in the next 30 days, and potential investors should take note of the unique pricing mechanism – the SHMU token price increases every few hours during this presale period. The project’s whitepaper outlines ambitious plans, including the launch of an AI marketing dashboard, integration with decentralized applications, and continued development for long-term growth.

For more information about the Shiba Memu presale, you can visit their official website here.

The post New altcoin steals the show as Bonk surges on KuCoin listing and Dogecoin’s on-chain rises appeared first on CoinJournal.