Crypto News

MEXC Ventures, the investment arm of crypto exchange MEXC, is investing a total of $36 million into Ethena and its USDe stablecoin, according to a press release. The firm is making a strategic investment of $16 million in Ethena and bought $20 million in USDe stablecoin to expand the adoption of synthetic dollars in decentralized finance (DeFi) and offer an alternative to fiat-backed stablecoins, the statement said. The move comes after Ethena, the developer of USDe, raised $100 million last year, which was backed by Franklin Templeton and Fidelity Investments-affiliated F-Prime Capital, among others. Known as a synthetic stablecoin, USDe is unlike traditional stablecoins like USDT and USDC in that it is not backed 1:1 by fiat assets. Instead, it...

The liquidation of an over $200 million long trade on ether (ETH) lead to a $4 million loss for Hyperliquid, where the "whale" placed the bet.The liquidation saw wallet ‘0xf3f4’ opening a highly leveraged 50x long ETH position, depositing $4.3 million USDC as margin for a total size of 113,000 ETH.The wallet then started withdrawing funds, reducing the margin below maintenance requirements in a move that resulted in a $1.8 million profit for the user but a $4 million loss for Hyperliquid’s Hyperliquid Provider (HLP) vault.Vaults are a blockchain-based product on Hyperliquid where users can deposit USDC to potentially earn a share of profits generated by trading strategies of other users or the vault’s owner.The moves created speculation among Hyperliquid...

Inflation has cooled significantly in February, but it remains above the Federal Reserve’s 2% target.Source link

Inflation in the U.S. softened more than expected in February, putting Federal Reserve rate cuts firmly back in the plan as spring and summer approach.The Consumer Price Index rose 0.2% in February, according to a report from the Bureau of Labor Statistics on Wednesday morning. Expectations were for 0.3% and January's pace was 0.5%. On a year-over-year basis, headline CPI was higher by 2.8% versus forecasts for 2.9% and January's 3.0%.Core CPI, which excludes food and energy costs, increased 0.2% in February against forecasts for 0.3% and January's 0.4%. On a year-over-year basis, core CPI was running 3.1% versus expectations for 3.2% and January's 3.3%.The price of bitcoin (BTC) rose more than 1% to $84,100 in the minutes following the...

On Tuesday, March 11, bitcoin ETFs experienced net outflows of $371 million, marking a full week of consecutive withdrawals. Ether ETFs also faced challenges, with $22 million in net outflows, extending their streak to five days. Market Caution Prevails With Bitcoin and Ether ETFs Seeing Continued Withdrawals Investors continued to reassess their positions in bitcoinSource link