Schlagwort: crypto business

• Notcoin (NOT) price jumped 20% on Tuesday as the new token continued to rise.
• Currently with a market cap of $942 million, Notcoin looks primed for a break into the top 100 coins.

Bitcoin, Ethereum and Solana have all slipped 3% in the past 24 hours. This in turn sees most of the crypto market struggling.

However, Notcoin (NOT), Celestia (TIA) and memecoins Floki and Pepe are among the exceptions as momentum keeps them in the green.

Notcoin price soars, token on cusp of breaking into top 100 coins

Notcoin, a recently launched crypto token, has outperformed amid bullish projects and could break into the top 100 coins by market cap if gains hold.

As CoinJournal highlighted on Monday, the price of NOT went vertical as bulls rode a fresh surge in interest. Key to this is Notcoin’s airdrop announcement and the unveiling of a passive earning feature.

According to data from CoinGecko, Notcoin (NOT) token has pumped 20% in the past 24 hours to reach $0.009873. NOT price is currently at $0.009197, indicating a 61% increase this past week. NOT ranked second behind Pepe (PEPE) as top trending tokens last week.

Notcoin has a total supply and circulating supply of 102,708,221,600.

The fully diluted valuation (FDV) stands at just over $942 million. Per CoinGecko, at current prices, the altcoin’s market cap of $942 million puts it in 107th spot among largest cryptocurrencies.

In terms of ranking, NOT has flipped EOS and IOTA. Notcoin is likely to overtake Tezos and Sythentix Network, which are 105 and 102 respectively with market caps of $948 million and $980 million.

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• Ryan Salame sentenced to 90 months in prison.
• Former FTX executive’s sentencing comes two months after former CEO Sam Bankman-Fried was sentenced to 25 years in prison.

Former FTX executive Ryan Salame has been sentenced to 90 months in prison, the United States Attorney for the Southern District of New York Damian Williams has announced.

Salame previously pleeded guilty

Salame’s sentencing comes two months after former FTX CEO Sam Bankman-Fried received a 25-year sentence.

Previously, Salame had pleaded guilty to DOJ charges, including conspiracy to make unlawful political donations, plans to deceive the Federal Election Commission and conspiracy to run an unlicensed money transfer business. 

The prosecution said he worked on these alongside Bankman-Fried and other top FTX executive Nishad Singh.

As well as the 7.5-year sentence, the court has imposed a $6 million forfeiture and over $5 million in restitution order against the ex-FTX exec. He also faces a sentence of three years of supervised release.

In a statement following the sentencing, Williams said:

“Ryan Salame agreed to advance the interests of FTX, Alameda Research, and his co-conspirators through an unlawful political influence campaign and through an unlicensed money transmitting business, which helped FTX grow faster and larger by operating outside of the law.  Salame’s involvement in two serious federal crimes undermined public trust in American elections and the integrity of the financial system.  Today’s sentence underscores the substantial consequences for such offenses.”

Salame became co-CEO of FTX Digital Markets Ltd, the Bahamas-based affiliate of the FTX crypto exchange that collapsed in 2022.

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• Bitcoin price dipped nearly 2% on Tuesday morning to trade at lows seen last Friday before rebounding slightly as of writing.
• This BTC price decline came after the latest crypto news around defunct cryptocurrency exchange Mt. Gox. 

On May 28, Mt. Gox moved more than 141,000 BTC worth over $9.6 billion to a new unknown wallet.

Data shows the transfers happened in several transactions, with chunks of between 3,999 BTC and 32,499 BTC. The latest on-chain data shows all of the coins are now transferred to the new address.

As the market reacted to the news, Bitcoin price fell from highs of $70,000 to lows of $67,550. The flagship cryptocurrency’s price had however rebounded to above $68,000. BTC remains 4% down this past week.

BTC price and the Mt. Gox creditor repayment plan

Mt. Gox was once the crypto industry’s largest Bitcoin exchange before a 2014 hack saw it lose over 850,000 BTC. After years of waiting amid recovery efforts, creditors are set to receive reimbursements.

The process sees the defunct exchange move BTC from its cold wallets for the first in five years. According to the approved repayment plan, creditors should receive their bitcoins by October 31, 2024.

The bearish market reaction is down to the potential influx of fresh selling pressure on prices.

Analysts at K33 Research warned in April that the impending $9 billion Mt.Gox payout could catalyse downside pressure on Bitcoin’s price.

Despite this outlook, the market remains largely bullish on BTC price long term. Crypto analyst Miles Deutscher believes any dips amid the repayments could offer an opportunity to accumulate.

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• Nomura Holdings and Laser Digital have partnered with GMO Internet Group on a new stablecoin-focused project.
• The companies will collaborate in the issuance, redemption and circulation of Japanese yen and US dollar-pegged stablecoins in Japan

Nomura Holdings, the Japanese banking and investment giant, is teaming up with GMO Internet Group to explore the issuance of fiat-backed stablecoins in Japan.

The collaboration, according to an announcement published on Monday, will see Nomura Holdings, through its digital assets arm Laser Digital, support the issuance, redemption and circulation of Japanese yen (JPY) and US dollar-(USD) denominated stablecoins.

Eyeing the stablecoin market in Japan

As well as JPY and USD stablecoins, Nomura and GMO plan to offer a “Stablecoin-as-a-Service” solution. The project will support companies looking to issue stablecoins for the Japanese market. 

Users of this new service will benefit from aspects such as regulatory compliance management, blockchain integration and backend transactions management.

According to today’s announcement, Nomura will contribute to the project via its extensive expertise in crypto trading, asset management and venture investment. GMO will offer the technological expertise.

“We’re grateful to be cooperating with the Nomura Group to explore the issuance of stablecoins in the Japanese market. Their infrastructure and heritage alongside the experience of Laser Digital, are of paramount importance to the success of this project in Japan,” Masatoshi Kumagai, founder and Group CEO of GMO Internet Group, said in a statement.

 “This project has the potential to greatly enhance digital asset accessibility and innovation in the Japanese financial landscape,” Nomura Holdings President and CEO Kentaro Okuda, noted.

Laser Digital and GMO seeing growth

Nomura announced its digital assets subsidiary in March 2022, with Laser Digital now a prominent player in the crypto and blockchain space. Recently, the platform partnered with Pyth Network as a data provider.

GMO-Z.com Trust Company, GMO’s US subsidiary, has issued stablecoins on top blockchains, including Ethereum, Stellar, and Solana.

The NYDFS-chartered platform’s regulatory-compliant stablecoins include GYEN and ZUSD.

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• Toncoin price bounces as total value locked (TVL) on the TON Blockchain surpasses $300 million.
• DeFiLlama data showed TON Blockchain’s TVL at $315 million, up from $156 million on May 1.
• Telegram related news and Pantera Capital’s investment have been notable catalysts for Toncoin (TON).

Toncoin (TON), the native cryptocurrency token of The Open Network (TON) Blockchain, currently trades around $6.40.

After flipping negative amid profit-taking in recent days, the price of Toncoin looks poised for a major bounce.

TON Blockchain TVL surpasses $300 million

According to data from DeFiLlama, the total value locked (TVL) on the TON Blockchain has increased sharply this month. Indeed, the TON’s ecosystem has seen the TVL jump from $156 million on May 1 to currently stand at $315 million.

The milestone comes as TON shows growing traction in the decentralized finance (DeFi) market. Top projects are across decentralized exchanges (DEXes), lending, liquid staking and gaming.

In the past month, for instance, DEX protocols Ston.fi and Dedust recorded a TVL surge of 132% and 30% respectively. Liquid staking protocols Tonstakers and bemo also recorded notable increases of 20% and 17% respectively.

Toncoin price outlook

Toncoin price reached highs of $7.63 in April, riding positive news and network developments.

Telegram’s launch of an ad revenue share program with payouts in Toncoin and a TON Blockchain promotion The Open League provided some of the upside momentum.

There was also a massive surge for TON token when venture capital firm Pantera Capital revealed a new investment in TON.

The recent market debut of Notcoin (NOT) also provided buyside pressure for Toncoin.

However, TON price dipped amid a retreat for the broader market, with Bitcoin and Ethereum’s declines to support levels last week adding to the downside pressure.

BTC and ETH are back above $68,000 and $3,800 respectively, helping top altcoins higher as meme coins Pepe and FLOKI outperform peers.

TON price looks poised for a bounce as it flips green on the daily chart.

If bulls strengthen above the immediate support zone, a breakout to $7 could bring a new all-time high into view.

On the other hand, a downturn would risk a retreat to lows of $5.64 and potentially $4.86.

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