Schlagwort: crypto business

• ETH and SOL prices jumped above $3,300 and $150 on Monday as cryptocurrencies rose.
• The upside follows an attempted assassination of Donald Trump.
• As cryptocurrencies surge, Solciety could be the new political meme coin to watch.

Ethereum and Solana prices rose more than 5% respectively as the cryptocurrency market witnessed a surge in bullish sentiment.

As Bitcoin gained to hit a two-week high above $63,000, ETH and SOL jumped to $3,360 and $153 on the day. Meanwhile, the presale of new Solana meme coin Solciety raced to over $900k in stage 5 amid latest events in the political space.

ETH, SOL surge

Cryptocurrencies jumped over the weekend as Bitcoin led a market wide reaction to the attempted assassination of Donald Trump.

As Bitcoin broke above $63k with its best daily return since mid-May, top altcoins Ethereum (ETH) and Solana (SOL) rose to key levels.

ETH, which had dropped below $3k amid last week’s Bitcoin sell-off, reached prices above $3,300. Meanwhile, SOL reclaimed the $150 level after experiencing a significant slump since hitting its year-to-date highs.

Last week, Solana price reached lows of $121, a downward trend that threatened to extend to the psychological support at $100. While prices movement may continue to mirror Bitcoin’s, there are other catalysts to watch for ETH and SOL.

It includes the imminent trading debut of spot Ethereum ETFs and projections for spot SOL ETFs approval early next year. The biggest odds for a swift approval lie with the potential for Donald Trump winning the US presidential election in November.

After the assassination attempt, these odds have climbed considerably, with bullish predictions for crypto also focused on political meme coins. The latest wave of interest is in Solciety.

Solciety and the growth of PolitiFi

Solciety (SLCTY) is a Solana meme coin in presale that seeks to dominate the PolitiFi space with a unique approach to political satire.

In the past six months, a lot of attention has been on meme coins inspired by Donald Trump, Joe Biden or other political and social personalities. That’s the outlook that followed the assassination attempt on Trump on Saturday, with MAGA, Super Trump and Doland Tremp spiking sharply.

This market reaction also cascaded to Solciety, a PolitiFi meme coin that’s launching as the political party for degens. While politically neutral, this meme coin still packs a major punch with its Meme Campaigner tool.

Solciety and this feature are the perfect combination for meme enthusiasts, whether a Trump die hard, Biden supporter or simply a degen with an eye for opportunity.

Meme coin opportunity with Solciety

Crypto is here to stay, but crappy politics won’t cut it. Fortunately, Solciety has the tool to bring political memes to life, with SLCTY powering the community behind this new political force.

Anyone can tap into the meme maker to create and share viral politics-related memes. The top memes that go viral online will see the creators earn presale tokens. Talking of tokens, the SLCTY presale offers 3 billion tokens for early birds.

However, the ICO is selling out first and SLCTY price is also rising – from an initial $0.0015 to $0.002289 in stage 5.

But SLCTY isn’t going to be this heavily discounted for long. The rapidly-growing PolitiFi market suggests the presale might provide the best opportunity.

Interested in knowing more? Visit the official website.

The post ETH, SOL rise as crypto investors eye Solciety (SLCTY) appeared first on CoinJournal.

• Trump related meme coins spiked after gunman shot at Donald Trump during a rally on Saturday.
• MAGA, Super Trump and Donald Tremp rose while Jeo Boden slipped.

PolitiFi meme coins surged sharply late Saturday, with MAGA (TRUMP) and Super Tremp (STRUMP) and Donald Tremp (TREMP) gaining by more than 37%, 40% and 46% respectively.

Shooting incident at a Trump rally

The spike in the Trump-related meme coins follows an incident involving former US President Donald Trump. While at a rally in Pennsylvania on Saturday, Trump survived what appears to have been an assassination attempt.

Secret Service rushed the former president off stage and took him to hospital, with blood visible on Trump’s ear. A rally attendee died while another was rushed to hospital in serious condition. The shooter also died.

MAGA, STRUMP tokens surge

MAGA rose to above $8.20, while STRUMP and TREMP traded to highs of $0.012 and $0.55 to lead PolitiFi gainers.

Other tokens also surged, with Constitutional DAO, MAGA Hat and BABYTRUMP all rising sharply.  Meanwhile, Jeo Boden, a meme coin related to US president Joe Biden, dipped 12% as the news of the incident reached markets.

Gabin Noosum and Kamala Horris – meme coins related to Governor of California Gavin Newson and US Vice President Kamala Harris. Both tokens were down 30% in the past 24 hours at the time of writing.

Officials have said President Trump will be fine, while the FBI is investigating the shooting.

The post Donald Trump related tokens surge after shooting incident appeared first on CoinJournal.

• Genesis Trading has transferred 12,600 BTC ($719.9M) to Coinbase, possibly for asset liquidations.
• Resent settlement with NY requires $2B repayment, impacting Genesis’ financial strategy.
• The BTC transfer suggests Genesis aims to fulfill legal obligations, reassure investors promptly.

Over the past month, a wallet associated with Genesis Trading has transferred over 12,600 Bitcoin (BTC) totaling approximately $719.9 million to to Coinbase according to data from Arkham Intelligence.

This substantial BTC transfer follows a legal settlement with the State of New York, raising speculation about the firm’s financial strategy and its implications for investors.

Is Genesis Trading planning to liquidate assets?

In May 2024, Genesis Trading reached a pivotal settlement with the New York Attorney General’s office, agreeing to pay $2 billion to resolve allegations related to its Earn program.

The settlement mandated the repayment of defrauded investors and included a ban on operating within New York.

Following this legal resolution, the recent transfers of BTC to Coinbase suggest Genesis Trading may be preparing to honor its financial commitments through asset liquidations to fulfill the restitution requirements outlined in the settlement.

The timing aligns with similar actions taken by other entities under legal scrutiny, where compliance with financial obligations often involves liquidating assets to reimburse affected parties promptly.

What does it mean for Genesis investors?

The sizable BTC transfers to Coinbase indicate a proactive approach by Genesis Trading to address its financial obligations, potentially reassuring affected investors of forthcoming restitution.

This transparency in asset management also underscores the importance of regulatory compliance in the evolving crypto landscape, where legal settlements increasingly shape operational strategies and investor confidence.

Moreover, the scale of these transfers highlights Genesis Trading’s substantial presence in the cryptocurrency market, with holdings totaling $2.28 billion across various digital assets comprising of BTC valued at $1.91 billion alongside significant holdings in Ether (ETH) amounting to $364 million.

Such holdings not only demonstrate the firm’s market influence but also raise questions about its liquidity management and the broader implications for market stability.

As the firm navigates its obligations under the settlement with the State of New York, it remains to be seen how it will do with the moved bitcoins.

The post Genesis Trading has moved 12.6k BTC to Coinbase, signaling start of asset liquidations appeared first on CoinJournal.

• DWS plans to have its euro-pegged stablecoin live by 2025.
• The €941 billion ($1.02 billion) assets management firm recently launched a new company called AllUnity that will unveil the stablecoin.

Deutsche Bank-owned asset management firm DWS is planning to release the first euro-denominated stablecoin in Germany, according to Reuters.

Per the report, DWS has created a new platform to be regulated by the Federal Financial Supervisory Authority (BaFin) and which will unveil the euro-pegged stablecoin by 2025.

DWS recently launched AllUnity

Stefan Hoops, the CEO of DWS, said the new company set to launch the new stablecoin is called AllUnity.

DWS partnered with Flow Traders and Galaxy Digital to launch AllUnity in June this year, according to details in the report.

While no official announcement has been published yet, this is a move that could be a major step into the crypto space for DWS. The company is a leading fund manager in Europe, currently managing over €941 billion ($1.02 billion) worth of assets globally.

When unveiled, the new stablecoin will bring its benefits to both digital asset investors and developers, including in industrial applications.

“In the short term, we expect demand from investors in digital assets, but by the medium term we expect wider demand, for instance from industrial companies working with ‘internet of things’ continuous payments,” Hoops said in a statement.

Stablecoins and MiCA regulation

DWS’s move comes as the EU moves ahead with implementation of the Markets in Crypto-Assets (MiCA) regulation that came into effect on June 30. One of the key regulatory standards is for stablecoins and various issuers and providers have taken steps to align with the law.

This includes getting the necessary licenses and approvals.

USDC and EURC issuer Circle recently became the first stablecoin issuer to secure approval with the Electronic Money Institution (EMI) license.

Binance, on the other hand, moved to delist stablecoins that fail to comply with the MiCA rules. Bitstamp also delisted Euro Tether (EURT) in June.

The post DWS to unveil Germany’s first regulated euro stablecoin appeared first on CoinJournal.