Altcoin News

Shiba Inu Up 20% After Whale Buy, Robinhood Support
Shiba Inu Blockchain’s Public Testnet Will Arrive in Q3 2022

Shiba Inu’s Shibarium will release its public testnet this year.  In detail, the testnet will launch sometime in Q3 of 2022. Its main goal is to lower gas fees for its users across the Shiba ecosystem. Shiba Inu’s ‘Shibarium’ blockchain announces that its public testnet release is set for Q3 2022. The thrilling announcement comes from the firm working on the development — The Unification Foundation.  From the tweet above, we can see that the SHIB army is very excited by the news and is eager for the testnet’s arrival. In particular, one response talks about how once the testnet

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African-Nations-Trialing-CBDC-After-Nigeria’s-e-Naira
African Nations Trialing CBDC After Nigeria’s e-Naira

South Africa and Ghana are now trialing their own CBDC. Nigeria has formally launched its e-Naira after a successful pilot that ran for months. The Bahamas is the first country in the world to launch its CBDC, followed by Nigeria. More African countries are now trialing their own central bank digital currency (CBDC) following Nigeria’s official launching of its own e-Naira. According to the International Monetary Fund (IMF), at least South Africa and Ghana are hot on the heels of Nigeria. Specifically, the South African Reserve Bank is now running tests with its wholesale CBDC. Financial institutions in the country

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Ripple-Opens-Crypto-Hub-in-Toronto,-Aims-to-Hire-Hundreds
Ripple Opens Crypto Hub in Toronto, Aims to Hire Hundreds

Ripple announces its intention to make Canada a crypto hub.  The company will hire hundreds amid global crypto layoffs.  It aims to open an engineering hub to drive innovation in the country. Ripple is opening an office in Toronto, Canada. The blockchain company is hoping to make Canada serve as a crypto hub. In fact, Ripple is planning on hiring 50 engineers to have the hub kick into full gear. As the year goes by, they plan to hire hundreds more.  As we can see from the tweet above, the announcement seems to be receiving a very warm reception from

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Terra-LUNAUST-Core-Designers-Grounded-by-South-Korean-Authorities
Terra LUNA/UST Core Designers Grounded by South Korean Authorities

Terra’s main designers face a departure ban from South Korea.  The Republic of Korea is taking its LUNA and UST investigation very seriously.  South Korea pushed its 20% Bitcoin (BTC) tax to 2025. Reports say that South Korean authorities are putting a ban on LUNA/UST employees and developers from leaving the country. In detail, it seems that Terra’s main designers cannot leave South Korea.  As we can see from Blockworks’ tweet above, the news came from a JTBC article. In fact, the article goes on to explain the situation with Terra and the South Korean authorities. It is no secret

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Solend’s-Users-Invalidate-Votes-to-Briefly-Control-a-Whale-Account
Solend’s Users Invalidate Votes to Briefly Control a Whale Account

Yesterday, Solend users voted yes to take control of the largest whale account. Governance proposal SLND1 was passed with 97.5% voters saying yes. Due to criticisms, the Solend team posted a new proposal today to invalidate SLND1. SLND2 passed with over 99.8% who voted yes. Users of Solend, a lending and borrowing service platform based on Solana, voted yes to control the largest whale account to mitigate liquidation risks amid crypto meltdown on June 19. The governance proposal was caused by the fact that the whale account and its massive margin position were presenting a threat to an on-chain liquidation.

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Elon-Musk-‘I-Will-Keep-Supporting-Dogecoin’-Amid-Lawsuit
Elon Musk: ‘I Will Keep Supporting Dogecoin’ Amid Lawsuit

Tesla and SpaceX top executive Elon Musk said he will keep supporting Dogecoin. Musk tweeted two days after a Dogecoin investor sued him and his companies for running a “pyramid scheme” to support Dogecoin. The price of Dogecoin took off 13% after the CEO’s tweet. Tesla chief executive and Dogecoin advocate Elon Musk proclaimed via tweet that he will keep supporting Dogecoin. The token’s price has seen a 13% increase after the CEO’s tweet. The top executive’s tweet was posted two days after a dogecoin investor and plaintiff, Keith Johnson, filed a $258 billion lawsuit in federal court in Manhattan

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Crypto-Lending-Firm-Babel-Finance-Freezes-Withdrawals-Due-to-Crypto-Market-Crash
Babel Finance Freezes Withdrawals Due to Crypto Market Crash

Babel Finance temporarily freezes withdrawals of cryptocurrencies on Friday. The crypto lender failed to pay its clients due to the recent crypto market meltdown. Fear from crypto meltdown, withdrawal freezes from firms, and depegging might increase redemptions from other companies. Babel Finance momentarily freezes the withdrawals and redemption of cryptocurrencies from its platform on Friday. As per the report of CNBC, the action took place after the firm struggled to pay its clients caused by the recent crypto market meltdown. The value of cryptocurrencies in the past few weeks has tumbled after the investors dump their assets, due to the

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What-happened-With-Celsius,-and-How-its-Crypto-Lending-Burned-Out
Celsius Faces Legal Charges From State Regulators and SEC

Crypto lending firm Celsius halted withdrawals from its platform. The firm’s action provoked an investigation from security regulators and the SEC. Legal charges from individuals like Ben Armstrong were also added from the firm’s plate. Celsius was in deeper trouble after State securities regulators in Alabama, Kentucky, New Jersey, Texas, and Washington are set to investigate the crypto lending firm as per Reuters. The investigation was in response to the crypto lending firm’s decision to halt customer’s withdrawals, transfers, and swaps earlier this week.  The Texas State Securities Board Enforcement Director Joseph Rotunda told Reuters on Thursday that the officials

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Ripple Submits Crypto Regulation
Ripple Partners With Fluf World To Bring ‘Open Metaverse’ via the Root Network

Ripple and Fluf World announced partnership to launch ‘Open Metaverse’ via The Root Network. The Root Network will connect to the Global XRP community to grant access to NFTs over FLuf’s ecosystem. The Open Metaverse allows other projects to mint, buy, sell, or trade in-network tokens on The Root Network Ripple, the company behind XRP, has partnered with Fluf World to launch an ‘Open Metaverse’ via The Root Network. According to the Fluf world’s press release, the partnership claims to bring great possibilities to both of their communities by expanding the utility of XRP as its default gas token.  The

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What-happened-With-Celsius,-and-How-its-Crypto-Lending-Burned-Out
What happened With Celsius (CEL), and How its Crypto Lending Burned Out

Crypto lending firm Celsius opened a bundle of loans. The firm bought more than $500M worth of stETH but its value dropped due to extreme market conditions. The situation has caused the firm to halt withdrawals. Earlier this week, the crypto market was in turmoil after Celsius’ amassed $20 billion in assets at its peak had been dissolved, which led into a solvency crisis. Technically, Celsius is a do-it-all app that provides its customers seamless and trusted access to crypto services. The company is a custodial asset manager that allows users to access regulated loans and yield, for a transaction

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USDC Issuer Circle to Launch Euro-Backed Stablecoin EUROC

Issuer of USDC, Circle, will launch a new stablecoin called Euro Coin (EUROC) EUROC will be officially launched on June 30th. Developers can now start integrating Euro coin’s smart contract today. Circle, the financial tech firm behind USDC, will be launching a new stablecoin called Euro Coin (EUROC). The new stablecoin was designed with a full-reverse model same as USDC to ensure the coin is redeemable 1:1 for euros. Even though traders have lost their trust to stablecoins due to the recent depegging of UST, the fintech still decided to launch the additional stablecoin backed by euro reserves. A euro-denominated

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Shibnobi’s Shinja BSC Now Listed
Shibnobi’s Shinja BSC Now Listed on ShibnobiSwap and PancakeSwap

Shibnobi announced the listing of Shinja BSC in ShibnobiSwap and PancakeSwap. ShibnobiSwap provides token swap services over multiple blockchain networks. The trading volume of Shinja has increased after the announcement. The community-driven token Shibnobi announced today in a tweet the launch of Shinja BSC on its multi-chain swap platform ShibnobiSwap and DeFi exchange PancakeSwap. Shibnobi (Shinja) is an innovative meme token that was launched in November last year. It offers a multi-chain token swap feature in order to reach more crypto enthusiasts.  The main purpose of the token is to make crypto uncomplicated so that every user could leverage its

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