Category: crypto

Chainlink’s LINK token reached its highest price since September, driven by the launch of Cross-Chain Interoperability Protocol (CCIP) Private Transactions aimed at enhancing privacy for financial institutions. LINK rose around 6% this month, now ranked 14th with a market cap of $7.5 billion. The technology promotes blockchain adoption by addressing privacy concerns.

DeFi project Sky (formerly MakerDAO) is considering brand adjustments due to community feedback on its recent rebrand. Co-founder Rune Christensen highlighted the rapid success of the USDS stablecoin and its integrations with major platforms. A community call on options for the brand’s future is scheduled for Oct. 25.

Messari’s Q3 2024 report reveals TRON’s protocol revenue surged to $151.2 million, a 29% quarter-over-quarter increase. Key metrics included a 24% market cap rise and substantial gains in DeFi and DEX volumes. Initiatives like lowering gas fees and launching HackaTRON Season 7 further enhanced TRON’s ecosystem and user engagement.

On October 18, Coinbase submitted two FOIA requests to clarify regulatory conditions for crypto in the U.S. One seeks details about a 15% deposit cap on digital asset firms, while the other aims to understand how agencies handle FOIA requests. Coinbase also pursues transparency from the SEC regarding enforcement actions.

Transak, a fiat-to-crypto service provider, experienced a data breach affecting over 92,000 users due to a phishing attack. Personal details, including names and IDs, were compromised, but no financial information was affected. The company is notifying impacted users and has reported the breach to relevant authorities, highlighting crypto industry security challenges.

Stripe acquired stablecoin platform Bridge for $1.1 billion, over five times its valuation, to enhance stablecoin adoption and facilitate global transactions. The acquisition follows recent market growth, with stablecoins reaching $8.5 trillion in transactions. Industry leaders believe this move will significantly boost the stablecoin landscape and integrate it into mainstream finance.

US crypto industry donations exceeded $190 million in the current election cycle, a significant increase from $15 million in 2020. Nearly half of corporate donations are from this sector, aiming to influence regulatory policies. Bipartisan support is evident, particularly through the pro-crypto PAC, Fairshake, which contributed heavily to both parties.

A new crypto project, $WAP, on the Solana blockchain, is gaining traction with support from rapper Cardi B. Aiming to revolutionize crypto payments via its “Moonshot” credit card solution, $WAP fosters a strong community despite facing misinformation. The project’s light-hearted ethos is symbolized by Cardi’s new kitten mascot.

Solana-based memecoin platform Pump.fun announced a new token and potential airdrop after a record week. They introduced Pump Advanced, a trading terminal with integrated features and 0% fees for the first month. Co-founder Sapijiju hinted at the future token market launch, continuing the platform’s success in meme coin creation.

Bitwise CEO Hunter Horsley explained the lower trading volumes of recently launched Ethereum ETFs compared to Bitcoin’s. Key factors include their summer launch during a slow investment period and a flat market. Despite struggles, funds from Bitwise, BlackRock, and Fidelity are among the fastest-growing ETFs, with significant net inflows.