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Solv Protocol is set to launch its native token, SOLV, on Hyperliquid, a layer-1 blockchain focused on trading, marking one of the first token launches on its spot exchange. The specific launch date is yet to be announced, and Solv has invested approximately $130,000 for the listing slot through a Dutch auction process. Currently, Solv oversees over $3 billion in total value locked and offers various yield strategies by staking Bitcoin across multiple blockchain networks.
Deutsche Bank is developing a layer-2 blockchain solution for Ethereum to tackle regulatory challenges faced by financial institutions using public blockchains. This initiative, part of Project Dama 2 under Singapore's MAS Project Guardian, aims to mitigate risks such as transaction validation and fees to sanctioned entities. The bank plans to launch a minimum viable product next year, allowing for a curated list of validators and enhanced regulatory oversight.
Kostovetsky warns that investing in cryptocurrency resembles gambling more than traditional investments, highlighting its volatility and the need for risk tolerance. While Trump’s administration may foster crypto adoption through regulatory clarity, the SEC's stance on cryptocurrencies as securities complicates the landscape. The Federal Reserve's refusal to hold a bitcoin reserve further underscores the challenges in establishing a stable framework for digital currencies.
Binance.US plans to restore USD services by early 2025, responding to user demand after suspending fiat trading in June 2023 due to regulatory challenges from the SEC. Interim CEO Norman Reed highlighted the importance of these services for operational functionality and user experience. Despite ongoing legal scrutiny, the exchange aims to enhance compliance, expand product offerings, and maintain competitive trading fees, positioning itself as a key player in the evolving crypto landscape.
Binance faced a significant error during the launch of the $PENGU token, misreporting its market cap as $350 million instead of the actual $3.5 billion for the first 30 minutes. This $3.15 billion discrepancy, caused by a delay from CoinMarketCap, led to market chaos. In response, Binance quickly collaborated with CMC to rectify the issue and is compensating affected traders with 135 million Pengu tokens while promising to enhance data accuracy in the future.
South Korea has delayed the implementation of a crypto tax until 2027, reaffirming its pro-crypto stance amid political uncertainty following President Yoon Suk-yeol's impeachment. The government aims to develop a comprehensive regulatory framework while monitoring global trends, particularly U.S. policies under President-elect Donald Trump. Despite the turmoil, trading activity remains strong on major exchanges as investors seek cryptocurrencies as a hedge against the weakening Korean Won.
Bloomberg analysts predict a surge of crypto ETFs in 2025, targeting established players like XRP and Solana, alongside the innovative newcomer Lightchain AI (LCAI). While XRP excels in cross-border transactions and Solana leads in DeFi and NFTs, LCAI's focus on AI integration positions it for significant growth, offering a unique value proposition in the evolving digital asset landscape.
Donald Trump’s World Liberty Financial (WLFI) has made significant moves in the crypto market, recently swapping cbBTC for wBTC, signaling a shift towards decentralization away from Coinbase's control. This $10.4 million exchange reflects a strategic pivot to enhance liquidity and align with the DeFi landscape, as WLFI aims to bolster the U.S. dollar's position in cryptocurrencies. With ongoing investments in various digital assets and partnerships, WLFI is poised to attract more users and investors while promoting transparency and security in its operations.
OKX Web3 has launched a Dune dashboard to enhance transparency in decentralized exchange (DEX) activities, highlighting Solana's dominance with over 45 million trades and $10 billion in transaction volume. The dashboard reveals daily volumes between $200 million and $300 million, with 200,000 to 300,000 active addresses, showcasing the dynamic nature of the DEX ecosystem. This initiative reflects OKX's commitment to improving transparency and user experience in the crypto space.
The Income Tax Appellate Tribunal (ITAT) has classified cryptocurrency profits from sales before 2022 as capital gains, allowing long-term investors to benefit from lower tax rates. In contrast, profits from post-2022 transactions will incur a flat 30% tax with no deductions. This ruling clarifies the tax treatment of cryptocurrencies, aligning them with traditional assets and enhancing stability in India's crypto taxation landscape.
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