Crypto News
Japan’s SoftBank Earmarks Up to $25 Billion for OpenAI: Report
The Japanese tech giant's potential investment would surpass Microsoft's stake, marking its largest AI bet.Source link
Ether’s Worst Showing Versus Bitcoin Highlights Cycle of Diminishing Returns: Van Straten
Ether (ETH), the second-largest cryptocurrency, has fallen out of investor relative to bitcoin (BTC), returning the worst bull-cycle performance against its larger rival since the Ethereum blockchain's inception in 2015.A comparison of the ether to bitcoin ratio across past cycles from the tokens' respective lows shows consistent underperformance. The black line in the chart above represents the current cycle that started in November 2022, when bitcoin bottomed at around $15,500 during the collapse of crypto exchange FTX. With each cycle, ether's return against bitcoin has diminished.On Wednesday, the ratio dropped below 0.0300 to touch 0.02993, a four-year low. The previous low was recorded on Jan. 19, a day before President Trump's inauguration. This month, the ratio — the exchange rate...
ABN AMRO, 21X Conduct Onchain Trade of Tokenized Assets Against Stablecoins
Dutch bank ABN AMRO has conducted an onchain trade of tokenized assets against stablecoins alongside Germany-regulated 21X.The two firms completed a joint proof of concept (PoC) for the issuing of a token on the Polygon Amoy Testnet, which was listed as a trading pair with an e-money token, according to an emailed announcement on Thursday."The deployment of 21X's on-chain order book smart contract enabled trading between tokenized cash and the tokenized asset in one single transaction," the firms said. Frankfurt-based 21X, which is building a blockchain-based exchange to list and trade tokenized securities, won approval from German regulator BaFin in December.Tokenization - the representation of real-world assets such as stocks or bonds as tokens on a blockchain - has become...
Bitso Launches Stablecoin Startup Accelerator ‘The Push’
Bitso, the Latam-focused cryptocurrency exchange, has launched a stablecoin startup accelerator program. ‘The Push’ will support five stablecoin projects based in or planning to establish themselves in Latam, providing each with $250K to capitalize on the growing popularity of stablecoins in the region. Bitso to Support Stablecoin Innovation in Latam With ‘The Push’ With theSource link
Pudgy Penguins’ Layer 2 Network, Abstract, Struggles to Attract Liquidity
Abstract, the layer-2 network rolled out this week by Pudgy Penguins, is off to a muted start despite offering a series of incentives to new users.The network notched 711,000 user transactions on the day of release, but that respectable total has been overshadowed by a lack of inflows. Its total value secured (TVS) was standing at just $33 million worth of ether (ETH) and stablecoins, a far cry from the tens of billions of dollars distributed across other hyped layer 2 networks.The platform's native decentralized exchange, NOXA, has $109K worth of total value locked (TVL), down from $515K on launch day, DefiLlama shows.The launch was marketed as a "new era of consumer crypto" with simplified onboarding that allowed users to...