Bitcoin Price: US$ 93,108.59 (-4.98%)
Ethereum Price: US$ 3,414.49 (+1.59%)
Justin Sun, the founder of Tron, has become the largest investor in Donald Trump’s crypto project, World Liberty Financial (WLFI), purchasing $30 million worth of its tokens. This helped raise the project’s total sales to $52 million. Despite sluggish sales and regulatory hurdles, Sun’s involvement as an adviser signals growing confidence in the project, which aims to generate significant earnings for the Trump family through its revenue-sharing structure. Meanwhile, Bitwise has filed with the SEC to list an exchange-traded product that will provide exposure to both Bitcoin and Ether, offering a balanced crypto investment option. However, approval remains uncertain due to upcoming leadership changes at the commission under President-elect Donald Trump. Following his recent election victory, many in the crypto industry anticipate a more favourable regulatory environment starting in 2025, sparking interest in new ETFs tied to various cryptocurrencies like Solana and XRP, in addition to Bitcoin and Ether. In a separate news, VanEck has extended the fee waiver on its Bitcoin ETF to attract investors, aiming to compete despite trailing larger competitors like iShares Bitcoin Trust. Bitcoin’s rising adoption continues to drive interest in the sector.
Ondo Finance has partnered with LayerZero to make its USDY token fungible across multiple blockchains, including Ethereum, Mantle, and Arbitrum, without requiring users to mint new tokens. This integration positions USDY as a competitive alternative to traditional stablecoins, with the token backed by short-term Treasuries and a total value locked (TVL) exceeding $450 million. In other news, the Central Bank of Iran (CBI) is preparing to launch a central bank digital currency (CBDC), the digital rial, as part of efforts to modernise banking amid sanctions. The CBI has also integrated Russian and Iranian payment systems, replaced SWIFT, and is exploring cross-border payment solutions with Russia, including a gold-backed stablecoin. In another significant move, Uniswap Labs has launched a $15.5 million bug bounty program ahead of the Uniswap v4 release, offering rewards for identifying critical vulnerabilities in its core contracts. This initiative is designed to ensure the highest level of security for the platform’s upcoming update, with payouts ranging from $100,000 to $15.5 million based on the severity of the issues found.
Morocco is moving toward legalising cryptocurrencies after initially banning them in 2017, with the central bank, Bank Al-Maghrib, drafting a law to regulate digital assets, currently under review. This shift follows growing interest in crypto and aligns with a broader global trend, including the EU’s forthcoming MiCA regulation. Abdellatif Jouahri, governor of the central bank, also mentioned that Morocco is exploring the potential of central bank digital currencies (CBDCs) to enhance financial inclusion. As crypto regulations become more common worldwide, such as the UK’s plan to regulate by 2026, Morocco’s move is seen as part of a larger policy shift. In other crypto news, Starknet, an Ethereum layer-2 scaling solution, has launched phase 1 of its staking mechanism, allowing users to participate in securing the network and earning rewards. Meanwhile, Bitcoin’s on-chain activity has surged, nearing 1 million active addresses, signalling growing retail adoption and possibly pushing the price toward the $100,000 mark. This momentum suggests that the crypto market is entering a phase of broader participation, potentially stabilising Bitcoin’s price and paving the way for more robust adoption.
Source: https://cointelegraph.com
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