Schlagwort: crypto business

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XRP price recoils despite the Roblox news as whale transactions rise

Ripple (XRP) price has moved sideways in the past few months as the recent consolidation continues. The coin was trading at $0.50 on Tuesday after Roblox announced that it will integrate it into its ecosystem. Ripple has dropped by more than 47% from its post-SEC lawsuit victory high.

Ripple price reacted mildly to news from Roblox, one of the biggest metaverse and gaming companies in the world. Roblox has a market cap of over $18 billion and millions of users. In a statement, the company said that it will activate XRP payments in its ecosystem.

Ripple has had other victories in the past few months. For one, the judge overseeing its case against the Securities and Exchange Commission (SEC) rejected the agency’s plan to appeal the verdict. The judge ruled that XRP was not a financial security as the agency alleged.

Meanwhile, Ripple recently acquired Fortress Trust, a company that provides crypto infrastructure services. The acquisition gave the company a license to operate in Nevada, a potential big market in the crypto industry.

Fortress Trust is a company that helps companies interact with digital currencies. It joins other companies that Ripple Labs has acquired in the past few years. It bought Metaco in a $250 million deal. Metaco is a Swiss company that provides crypto custody services.

A likely reason why XRP has struggled is that more whales have been moving the tokens substantially in the past few months. For example, a whale moved XRP worth over $14 million from an unknown wallet to Bitstamp. It is unclear whether this whale wants to sell the token or not.

Another XRP whale moved tokens worth over $36 million from Ripple to an unknown wallet. On Monday, another whale transferred XRP coins to BitStamp. To be clear, these large transactions are not necessarily bad. However, they tend to send the wrong information in the market.

How to buy Ripple

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EVER plunge by 20% as Everscale team says large number of tokens were stolen

Key takeaways

  • Layer 1 blockchain Everscale’s token has plunged by more than 20% so far today.

  • The development team announced that a large number of its tokens were stolen.

Everscale tokens stolen, EVER token dips by 20%

Everscale, a Layer 1 blockchain project built on the Telegram Open Network architecture, informed its community members via Twitter on Tuesday that a large number of tokens have been stolen.

The team said they are currently working with exchanges where EVER is listed in order to stop any further outflow of tokens.

This latest cryptocurrency news has seen EVER, the native token of the Everscale ecosystem, lose more than 20% in the last few hours. 

The team revealed that it temporarily disconnected the Octus Bridge, a decentralized bridge between blockchains that is powered by Everscale. This is to ensure that there would be no more outflow of EVER tokens from the ecosystem. 

The development team also asked its community members to stay calm and refrain from making hasty decisions. They will provide more details as the situation becomes clearer in the coming hours and days. 

EVER has lost roughly 20% of its value over the last 24 hours and is currently trading at $0.02896 per token. 

The post EVER plunge by 20% as Everscale team says large number of tokens were stolen appeared first on CoinJournal.

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Binance US drops FDIC insurance amid regulatory pressure

  • Cryptocurrency exchange Binance US has withdrawn FDIC insurance for user funds.
  • The exchange faces regulatory heat from the US Securities and Exchange Commission (SEC).
  • The SEC lawsuit ramifications are spilling over.

In a significant policy change, Binance US, the American arm of the global cryptocurrency exchange Binance, has revoked FDIC insurance coverage for user funds.

The move comes amid an ongoing legal battle with the US SEC, which has accused the exchange of violating federal securities laws.

The FDIC insurance withdrawal

Binance US users were previously covered by FDIC insurance, providing a level of protection for their cryptocurrency holdings. However, following an update in their terms of service, the exchange has informed users that their crypto deposits are no longer insured by the Federal Deposit Insurance Corporation (FDIC).

The updated terms explicitly state, “Digital Assets are not legal tender, are not backed by any government, and accounts and value balances are not subject to protections or insurance provided by the FDIC or the Securities Investor Protection Corporation (SIPC).”

This change places the responsibility for asset security squarely on the users themselves.

International ramifications of the SEC Lawsuit

Binance US’s decision to withdraw FDIC coverage is connected to an SEC lawsuit filed against Binance, Binance US, and its founder, Changpeng Zhao (CZ). The SEC’s legal action alleges various securities law violations, including falsely declaring trading controls and engaging in unregistered securities sales, violating investor protection regulations.

Furthermore, the SEC claims that CZ and Binance secretly controlled the operations of Binance US, raising concerns about transparency and potential conflicts of interest. The regulator also alleged that customer funds were covertly transferred to a separate entity called Merit Peak Limited, under CZ’s control.

The SEC’s actions have not only impacted Binance US but have also drawn international regulatory scrutiny. In response to the lawsuit, Binance has withdrawn from operations in several countries, illustrating the global implications of regulatory actions in the cryptocurrency space.

The post Binance US drops FDIC insurance amid regulatory pressure appeared first on CoinJournal.

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Roblox expands in-game purchases payment options with XRP integration

  • Roblox adopts XRP as a payment method for in-game purchases.
  • The integration will be aided by BitPay and Xsolla, facilitating seamless integration with crypto wallets.
  • The move reflects the growing interest in cryptocurrencies within the gaming industry.

Roblox, the immensely popular online gaming platform with over 200 million monthly active users, is breaking new ground by adopting Ripple (XRP) as a payment method for in-game purchases. The announcement was made on October 17, 2023, through BitPay’s official X channel.

Roblox’s Ripple(XRP) integration

Roblox, which boasts 65.5 million daily active users, has recognized the growing interest in cryptocurrencies. With 44% of its user base under the age of 13, the integration of XRP as a payment option signifies a significant stride toward crypto adoption among younger audiences.

Roblox users have been fervent in their in-game spending, having shelled out approximately $773 million in the first quarter of 2023. By adding XRP to the payment options, Roblox offers its users a more diverse and flexible way to make in-game purchases.

Roblox’s embrace of XRP is indicative of the gaming industry’s increasing interest in leveraging blockchain and cryptocurrency technologies. It opens doors to a world of possibilities, as in-game purchases become more seamless and tailored to the preferences of Roblox’s massive user base. The integration of XRP as a payment method in Roblox sets a new standard for innovation in the gaming sector, and it will be interesting to see how this development shapes the future of in-game transactions.

BitPay and Xsolla to streamline the connection

BitPay, a trusted cryptocurrency payment processor, is collaborating with Xsolla to streamline the connection between Roblox and various crypto wallets. BitPay and Xsolla have a longstanding partnership, dating back to 2014 when they initially accepted Bitcoin (BTC) payments. Their joint efforts have paved the way for the adoption of cryptocurrencies within the gaming industry.

Xsolla, the platform responsible for managing in-game payments in Roblox, will facilitate this integration, ensuring a seamless connection with crypto wallets.

In addition to XRP integration, BitPay and Xsolla introduced PayPal USD (PYUSD) payments for merchants and consumers in September 2023. This move further diversifies the range of payment options within the gaming ecosystem, enhancing the accessibility of cryptocurrencies for a broader audience.

The post Roblox expands in-game purchases payment options with XRP integration appeared first on CoinJournal.

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Can Bitcoin reclaim the $30k psychological level after yesterday’s brief rally

 Key takeaways

  • Bitcoin briefly touched the $30k level on Monday before retracing later on.

  • Shiba Memu’s presale is now closing in on the $4 million mark.

The cryptocurrency market is having a rollercoaster week so far, with Bitcoin and others experiencing mixed performances. Shiba Memu’s presale is now closing in on the $4 million mark as more investors pledge funds to the project.

Bitcoin eyes the $30k mark 

Bitcoin, the world’s leading cryptocurrency by market cap, briefly touched the $30k mark on Monday following a false news report. CoinTelegraph and some crypto media outlets reported that the spot Bitcoin ETF filed by BlackRock was approved by the US SEC.

The news sent Bitcoin racing past the $30k mark on Monday. However, BlackRock later came out to debunk the report, revealing that the SEC is still reviewing its Bitcoin ETF proposal. 

Bitcoin has now settled around the $28k level. At press time, the price of Bitcoin stands at $28,416 per coin. The bulls are still in charge and could push BTC’s price towards the $30k psychological level in the near term. 

What is Shiba Memu?

Shiba Memu is a cryptocurrency project that continues to gather interest among investors thanks to its unique proposition.  As a Web3 project, Shiba Memu intends to combine the powers of blockchain technology and artificial intelligence to make it easier for individuals and entities to carry out market campaigns.

Shiba Memu is a meme token project that intends to offer a wide range of use cases to marketers. The platform can carry out various activities, including content creation, marketing, social media advertisement, and creative advertisement. 

As an AI-powered project, Shiba Memu will work all day long to identify the best creative adverts and improve on them to provide superior content marketing services to users. 

Shiba Memu’s launching as a meme token comes as it seeks to leverage the popularity wave of meme coin projects in recent years. This is strengthened by the fact that within two years, meme coins saw their market caps grow from practically $0 to $35 billion in 2023. 

However, Shiba Memu will differ from other meme tokens by providing various use cases to users. Shiba Memu is launching with real-world use cases and would allow users to create marketing strategies, roll out PR schedules, and promote campaigns on relevant forums and social media platforms. 

Currently, the project is available on the Ethereum and BNBChain blockchains. 

Shiba Memu’s presale closes in on the $4 milestone

The cryptocurrency market is experiencing a rollercoaster performance this week, with most coins and tokens currently in the green zone. 

Shiba Memu has continued its excellent presale performance, and the team has now raised roughly $3.9 million. This means that Shiba Memu has added more than $200k in less than a week. 

With the funds raised during the various presale stages, Shiba Memu will develop its products and services. The team will focus mostly on the development of the Shiba Memu AI technology. 

The Shiba Memu platform will also have a robotastic dashboard, allowing users to interact with the AI, provide feedback, make suggestions, ask questions, and more.

Click here to find out more about Shiba Memu’s presale event.

Shiba Memu price prediction

Shiba Memu is still in its presale stage, and this makes it impossible to predict its price in the short and medium terms. However, at the moment,  1 SHMU = 0.034525 USDT USDT. The token’s price increases every day at 6 pm GMT and is set to trade at 0.034750 USDT per token in a few hours. 

During the first presale stage, SHMU was trading at $0.011125, and it has seen a remarkable increase in price since then. The SHMU token can be purchased using Ethereum, USDT, BNB and BUSD

Should you buy Shiba Memu now?

The decision to purchase SHMU belongs to the investors. However, Shiba Memu has the potential to become one of the top meme projects in the world, thanks to its utility in the market industry. By combining AI and blockchain technologies, Shiba Memu could gain massive adoption in the marketing world. 

At the moment, SHMU is going for a discount price as the project is still in its presale stage. With the right level of adoption and a possible crypto bull market on the horizon, SHMU’s price could rally higher in the medium to long term. 

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