Crypto News
Crypto Remittances Fail to Gain Momentum in El Salvador
According to the Reserve Bank of El Salvador, the use of crypto to make remittances to the country has consistently accounted for less than 1% of the total share since October 2024. Adoption of Crypto for Remittances Falters in El Salvador Crypto remittances, one of the main use cases for promoting bitcoin worldwide, have failedSource link
Law Firm Behind Pump.Fun Class Action Demands Removal of Tokens Mocking It
Two law firms that are involved in a proposed a class action suit against Pump.fun say they are now victims of tokens that are impersonating the firm's likeness, and are demanding in a cease and desist letter that the memecoin factory immediately remove them.At the center of the controversy is a token called 'DOGSHIT2' a Solana-based memecoin that's up almost 200%, according to CoinGecko data.It might be confusing to those not terminally online why a law firm would claim a canine excrement-themed token would violate its intellectual property, but references to the token being tied to one of the firm's wallets were found in exhibits initially filed by Burwick against Pump.fun which sought to demonstrate how easy it was to...
Erik Voorhees’s Venice Token Faces Pump and Dump Allegations
Onchain data reveals how a group of alleged insiders raked in profits after selling $10.2 million worth of the Venice token immediately after it launched. Venice Insiders Accused of Dumping Over $10M Worth of Tokens Amir Ormu, an onchain analyst with crypto marketing firm Castle Labs revealed that insiders at crypto artificial intelligence (AI) startupSource link
UAE Ministry Partners With Shiba Inu to Drive Web3 Innovation
The United Arab Emirates Ministry of Energy and Infrastructure has partnered with Shiba Inu to implement Web3 solutions for energy, infrastructure, and other areas. Public Service Efficiency Gets a Web3 Makeover The United Arab Emirates (UAE) Ministry Energy and Infrastructure (MOEI) announced on Feb. 5 that it had partnered with Shiba Inu to advance “Web3Source link
Trump’s Aim to Lower The 10-Year Yield Could Bode Well for Bitcoin
U.S. Treasury Secretary Scott Bessent said Wednesday that the Trump administration aims to reduce borrowing costs in the economy by lowering the yield on the 10-year Treasury note."He and I are focused on the 10-year Treasury," Bessent told Fox Business when asked about plans to lower interest rates. "He is not calling for the Fed to lower interest rates," Bessent added.The 10-year yield, the so-called risk-free rate, influences most long-term loans in the economy, including mortgages and business loans. Thus, a declining 10-year yield encourages borrowing and investment, increasing risk-taking in the economy and financial markets.Thus, softening of the 10-year yield is typically seen as bullish for risk assets, including bitcoin (BTC). Trump plans to lower the yield by controlling...