Schlagwort: crypto business

• Franklin Templeton has said that Solana has shown “major adoption and continues to mature”
• The asset manager launched its second digital asset-backed ETF, the Franklin Ethereum ETF (EZET)
• Franklin Templeton has agreed to fully waive its fees until January 2025 for the first $10bn in fund assets

Franklin Templeton has indicated it’s confident in the development of crypto exchange-traded funds (ETFs) claiming “there are other exciting and major developments” that will drive the crypto industry forward.

In a post of X, the asset manager wrote: “Besides Bitcoin and Ethereum, there are other exciting and major developments that we believe will drive the crypto space forward.”

Showing enthusiasm for a Solana ETF, Franklin Templeton added:

“Solana has shown major adoption and continues to mature, overcoming technological growing pains and highlighting the potential of high-throughput, monolithic architectures.”

Ethereum ETF Launch

The announcement from Franklin Templeton comes after the asset manager launched its second digital asset-backed ETF, the Franklin Ethereum ETF (EZET), which is available on the Chicago Board Options Exchange (Cboe).

Speaking of the launch, Patrick O’Connor, head of Global ETFs for Franklin Templeton, said: “After the success of our spot bitcoin ETF (EZBC) launch in January, we are proud to add EZET to our growing lineup of digital asset ETFs.”

O’Connor added that the company was “thrilled” to provide its clients more access to the digital asset industry in a “regulated fund structure that integrates seamlessly into traditional portfolios.”

As part of its launch, Franklin Templeton has agreed to fully waive fees until January 2025 for the first $10bn in fund assets.

Earlier this week, Cboe announced listing five ether ETFs following the US Securities and Exchange Commission’s (SEC) approval. Franklin Templeton was one of those, the others are 21Shares Core Ethereum ETF, Fidelity Ethereum Fund, Invesco Galaxy Ethereum ETF, and VanEck Ethereum ETF.

Data shows that investors traded over $1bn worth of shares from the ether ETF issuers on the first day of availability, with a net inflow of $106.7m.

Solana ETFs

In July, Cboe also submitted two applications to list spot Solana ETFs on its platform: 21Shares and VanEck. Filing two 19b-4 form applications on July 8, the SEC has until March 2025 to make a decision.

According to the Cboe, a potential Solana ETF is similar to spot Bitcoin and spot Ethereum funds, adding “much like bitcoin and ETH, the Exchange believes that SOL is resistant to price manipulation and that “other means to prevent fraudulent and manipulative acts and practices” exist to justify dispensing with the requisite surveillance sharing agreement.”

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• Ferrari is to accept crypto payments in Europe by the end of July
• The luxury sports car company wants to extend the scheme to other dealers by the end of 2024
• The move follows the successful launch of Ferrari’s crypto payment scheme in the US last October

Ferrari is to extend its scheme to accept cryptocurrency payments in Europe by the end of July, Reuters reported Wednesday.

The Italian-based luxury car company also plans to extend its service to other dealers by the end of 2024. Last October, Ferrari started accepting crypto payments in the US for its high-end cars, in partnership with BitPay, a crypto payment processor.

At the time, it was reported that payment was accepted in Bitcoin, Ether, and USD Coin. The move came after a surge in market demand and repeated requests from their dealers.

“The entry into the European market follows the successful launch of this alternative payment system in the United States less than a year ago, to support dealers in better addressing the evolving needs of its clients,” Ferrari said.

Protecting Ferrari’s dealers from crypto price swings, BitPay will switch the crypto into traditional fiat, excluding fees or surcharges from clients.

Companies Accepting Crypto

With market prices continuing to rise and as a popular form of investment it seems like a natural step for major companies to accept crypto payments.

However, despite this, high energy use and unclear regulation are preventing crypto payments being widely accepted, particularly with major companies.

In 2021, for instance, Tesla began accepting Bitcoin payments for its electric cars; however, CEO Elon Musk suspended crypto payments due to the use of fossil fuels connected to Bitcoin mining.

Despite this, there are some who are embracing crypto payments, hoping to make it more mainstream.

In April, Crypto.com and Adelaide Oval, one of the top sporting grounds in Australia, teamed up to bring the first-ever crypto payments at a major stadium in Australia. The collaboration sees sports fans and concert-goers in the country pay with crypto for food and drinks at outlets in the stadium.

In 2022, fashion brand Balenciaga followed in the footsteps of Gucci when it started accepting payment in cryptocurrency.

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• Ferrari has announced it will begin to accept crypto payments for its luxury sports cars in Europe.
• The expansion starts from the end of July, with this coming after the Italian car maker launched its crypto payment scheme in the United States.

Ferrari will accept crypto for its luxury sports cars from customers in Europe from the end of July, the Italian car maker announced on Wednesday.

According to a report by Reuters, Ferrari is expanding its cryptocurrency payments system to European dealers of its cars, adding the new market to its presence in the United States. Other than Europe, the luxury sports car maker will look to bring the crypto payments system to its other dealer networks across the globe.

Ferrari to accept crypto payments in Europe

Ferrari began accepting crypto for its cars in the US in 2023. Per the Reuters report on July 24, the company plans to have the same scheme available in Europe and other countries. However, this will only be available where crypto payments are legally accepted.

The target for the EU launch is the end of this month, while other jurisdictions should have support for crypto by the end of this year.

Expansion into Europe allows Ferrari to bring an alternative payment method for its European customers amid the evolving market, the company noted. Last year, when Ferrari launched the pay with crypto option, it tapped major crypto payments processor BitPay.

While the announcement released on Wednesday does not state the crypto partner, the company did acknowledge that most dealers across Europe are already getting ready for the rollout. Most of these companies have integrated or are in the process of adding support for the new scheme, the report added.

Ferrari’s partnership with BitPay allowed clients to buy cars with Bitcoin, Ethereum and USDC.

Bitpay helps convert crypto into traditional currencies on payment completion, with this helping merchants safeguard against potential price swings.

BitPay announced in June that it had joined MoonPay’s partner network to bring PayPal payments to its users in the US and EU.

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Key takeaways

• Spot Ethereum ETFs began trading on Tuesday and recorded a trading volume of $1 billion on the first day.
• The Poodlana presale is approaching $2.5 Million roughly a week after it launched.

Spot Ethereum ETFs are now live

On Tuesday, July 23rd, spot Ethereum exchange-traded funds (ETFs) launched in the United States. This latest development comes roughly six months after spot Bitcoin ETFs went live in the world’s largest economy.

Data obtained from Bloomberg revealed that investors traded over $1 billion worth of shares of the Ether ETF issuers on the first day of their availability. SoSoValue further revealed that of the $1 billion traded, there was a net inflow of $106.7 million. With Bitcoin and Ether ETFs now live, cryptocurrencies are becoming more mainstream, granting institutional investors access to the two leading digital currencies. 

What is Poodlana?

The launch of Ethereum ETFs is an indication that cryptocurrencies are going mainstream. Investors continue to troop into the space as new projects offer unique utilities for real-world problems. 

Poodlana is one of the latest projects that seek to improve the crypto meme ecosystem. It is a new Solana meme coin designed to introduce the glamor of high fashion to the crypto world. 

The developers have the ambition of making Poodlana the leading dog-themed meme coin on the planet. Poodlana is focusing on the ethos of community-driven growth while providing investors with unique value. 

Thanks to the popularity of the Poodlana dog breed in Japan, Korea, and China, the development team is leveraging this and the love of meme coins in these countries to build a strong community. 

Poodlana wants to become a bigger dog-themed meme coin, surpassing the two giants, Shiba Inu and Dogecoin. 

Poodlana’s presale hits $2.3m in seven days

The Poodlana presale began seven days ago and will last for 30 days. The project has raised more than $2.3 million in the last seven days, a testament to the huge demand Poodlana has amongst investors. 

In the current stage, the POODL token goes for $0.0265 but will increase to $0.0299 in the next presale stage. Investors can purchase this token using SOL, BNB, ETH, USDT, USDC, and Fiat/card payment options.

Unlike the numerous projects launching in the ecosystem, Poodlana will not have a lock-up period for their tokens. The POODL presale will end on August 16 and the listing on exchanges will take place immediately after. 

Click here to learn more about the Poodlana presale.

Poodlana allocates 50% of total tokens to presale

Poodlana is adopting a simple tokenomics model to ensure that there is total transparency amongst its community members and investors. The team will issue 1  billion POODL tokens, with 50% going presale.

The remaining 50% will be shared amongst marketing (15%), rewards (5%), partnerships (5%), treasury (10%), and liquidity (15%). 100% of tokens will be unlocked on day one, ensuring there are no lock-ups or vesting periods.

Poodlana will burn unsold tokens right after the presale, ensuring the deflation of the token, (which could lead to a price increase). The token will also be listed on decentralized exchanges (DEXs) once the presale ends.

Why buy the Poodlana tokens?

Meme coins have become a crucial part of the cryptocurrency ecosystem, with several of them having a market cap of $1 billion and above. Thanks to their appeal, Poodlana could join this rank of meme coins in the future. 

Poodlana is taking advantage of the popularity of the Poodlana dog breed and is building a community that could see it challenge Shiba Inu and Dogecoin. 

The swift presale and listing of this token in addition to its transparency could make it one of the most highly sought-after meme coins in the crypto space.

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• Bybit launches Spot Liquidity Pairing Program to enhance liquidity for projects.
• The program boosts visibility and partnerships, fostering a seamless trading experience.
• July’s Premium Market Makers include Amber Group, Auros, and DWF Labs.

The second-largest cryptocurrency exchange by trading volume Bybit has announced the launch of its Spot Liquidity Pairing Program.

This new initiative is designed to connect high-quality Market Makers with projects in need of improved liquidity, fostering a robust trading environment and advancing the digital asset ecosystem.

The Bybit Spot Liquidity Pairing Program

The Spot Liquidity Pairing Program aims to provide liquidity providers with significant opportunities for collaboration.

One of the key features of the Spot Liquidity Pairing Program is the visibility it offers to Premium Liquidity Providers, who will be prominently featured in Bybit’s recommendation list to projects.

This recognition not only helps establish strong partnerships but also attracts more potential projects to the platform.

Premium Market Makers for July unveiled

Bybit has revealed the Premium Market Makers for July, which include Amber Group, Auros, CyantArb, DWF Labs, Flow Traders, Pulsar Trading, and Raven.

These Market Makers have demonstrated exceptional performance and a strong commitment to providing liquidity, making them valuable partners for projects looking to enhance their market access.

Eugene Cheung, Head of Institutions at Bybit, emphasized the importance of the program in fostering a thriving trading ecosystem.

Cheung said that the Spot Liquidity Pairing Program is part of Bybit’s ongoing efforts to create a robust trading environment and facilitate the growth of the digital asset ecosystem. He also added that by connecting quality market makers with promising projects, Bybit aims to enhance liquidity and provide a seamless trading experience for its users.

The Spot Liquidity Pairing Program marks a significant step forward in enhancing the liquidity and overall trading experience on the platform, promising substantial benefits for both market makers and projects alike.

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