Category: crypto

Sierra Protocol launches Liquid Yield Token SIERRA on Avalanche network, offering instant yield generation without lock-up periods or hidden fees. Token utilizes dynamic rebalancing strategy across institutional RWAs and DeFi protocols, providing transparency and flexibility for investors. OpenTrade powers the token, enhancing security and efficiency. CEO Dave Sutter expresses excitement for protocol’s growth potential.

The Czech National Bank has launched a $1 million digital asset portfolio pilot, marking the first time a central bank has purchased Bitcoin. The portfolio will include Bitcoin, a stablecoin, and a tokenized asset, with the goal of gaining practical experience with blockchain processes and understanding the potential role of digital assets in diversifying reserves.

Scammers tricked victims into downloading a fake mobile crypto exchange app, stealing their funds through transfers. Federal agents seized $1.18 million in crypto from scammers in a global fraud ring. The U.S. Secret Service led an investigation into the scheme, which targeted U.S. citizens with fake apps and high-pressure tactics.

Tether assisted Thai and U.S. authorities in seizing $12 million in USDT from a transnational scam network in Southeast Asia, leading to the arrest of 73 individuals. Tether’s blockchain analysis enabled the tracing of stolen USDT, highlighting the company’s commitment to supporting law enforcement globally in combating criminal activity involving digital assets.

Aguirre Franco, Bitget’s new Chief Marketing Officer, is focusing on addressing the communication challenges in the complex world of crypto. By developing a universal exchange model that bridges centralized and decentralized systems, along with AI tools like GetAgent, Bitget aims to provide a seamless and educational trading experience for users worldwide.

BNY, one of the oldest banks in the U.S., has introduced a new stablecoin reserves fund to encourage institutional adoption of cryptocurrencies. The fund, called BNY Dreyfus Stablecoin Reserves Fund, is aimed at issuers complying with the GENIUS Act. Experts predict the stablecoin market could reach $1.5 trillion by 2030.

The end of the U.S. government shutdown is expected to bring relief to the crypto market, but traders are still cautious. Bitcoin and Ethereum saw positive reactions, with Bitcoin ETFs also seeing inflows. Experts are cautiously optimistic about the market’s future after the shutdown. ETF applications are expected to play a significant role.

Mastercard’s money-movement unit is teaming up with Thunes to enable near-instant payouts to stablecoin wallets in over 200 markets. This collaboration allows financial institutions to settle transactions using regulated stablecoins on various blockchain networks, expanding Mastercard’s global network and offering new possibilities for banks and payment service providers.

The end of the government shutdown did not boost Bitcoin as expected. Instead, Treasury yields and Federal Reserve policy led to a drop in Bitcoin below $100,000. Confidence in the U.S. government increased, causing capital to move away from risk assets. The shutdown highlighted broader structural risks for Bitcoin and other assets.

The first XRP ETF had $26 million in trading volume in just 30 minutes, surpassing expectations and legitimizing XRP. The ETF launch is on track to be one of the biggest among altcoins. XRP’s price rose and then stabilized after the launch, with more XRP ETFs expected to launch in November.