Category: crypto

Ripple currently has no plans for an IPO despite the growing trend of crypto companies going public. The company’s President Monica Long cited strong financial position and rapid growth from stablecoin payments as reasons for focusing on private expansion. Ripple recently secured $500 million in funding and formed partnerships with major companies.

Switzerland has initiated a public consultation for stablecoins, proposing a new regulatory framework under FINMA oversight. The country aims to benefit from stablecoins by creating a new license category for payment instrument institutions issuing value-stable blockchain-based tokens. This move could strengthen the Swiss franc and improve the country’s tokenized asset markets.

Bitcoin ETFs have seen six consecutive days of outflows totaling over $2.05 billion, with BlackRock’s IBIT leading the withdrawals. Bitcoin trades around $103,000 with weak demand and muted sentiment. Resistance at $106,000 could cap gains, leading to a potential drop below $100,000 if buyers remain sidelined. Trading activity remains cautious as uncertainty persists.

Monad is launching its Layer-1 blockchain mainnet on November 24, with the MON token generation event. The blockchain can process up to 10,000 transactions per second with one-second finality and supports smart contracts, DeFi, and NFTs. The project raised $244 million, with MON listing on Kraken on launch day.

Circle, the issuer of the USDC stablecoin, has updated its terms to allow the purchase of firearms using USDC. The change was made after pressure from gun rights groups. The company reserves the right to monitor transactions and may suspend or terminate accounts if terms are violated.

Gemini is looking to launch regulated prediction markets pending approval from the CFTC, expanding beyond crypto trading. This move would position the exchange against competitors like Kalshi and Polymarket. Analysts see prediction markets as Gemini’s next growth driver post-IPO, attracting new retail and institutional users.

Berachain Foundation recovered $12.8 million lost in the Balancer V2 exploit after halting and restarting its network. The recovery was achieved through collaboration with a white-hat hacker, with plans to redistribute funds to affected users. The incident raised concerns about DeFi security and audit limitations. StakeWise also recovered $20 million in stolen assets.

The Ether.fi community approved a $50 million buyback program for its ETHFI tokens to stabilize market price and increase long-term value. The buyback will be funded through treasury revenues, transparently executed on-chain, and received 99% community support. This move aims to reshape confidence in the native token and enhance its role in the DeFi ecosystem.

Canada will introduce legislation for fiat-backed stablecoins under its 2025 federal budget, allocating $10 million over two years for administration. This move follows the decision to drop plans for a central bank digital currency. Canada aims to modernize payments by integrating stablecoins into the financial system and amending the Retail Payment Activities Act for regulation.…

Former Australian rugby star Trent Merrin has been arrested for allegedly stealing AUD $140,000 worth of cryptocurrency using deceptive means. Police seized electronic devices during a raid. Australia has intensified its crackdown on crypto-related crime and tightened regulations. Merrin, a retired forward, faces charges and will appear in court in December.