Crypto News
FBI Ends Investigation Into Kraken Founder Jesse Powell: Report
Feds have dropped an investigation into Kraken co-founder Jesse Powell, he said Tuesday, over allegations levied by a nonprofit he started.Source link
Ethereum Validator Exit Queue Nears $2B as Stakers Rush to Exit After 160% Rally
Ethereum’s validator exit queue swelled on Tuesday to its longest wait time in more than a year, that could signal a rush among stakers to pull funds after a major price rally in ether (ETH).There was nearly 519,000 ETH as of Tuesday U.S. afternoon, worth $1.92 billion at current prices, in line to exit the network, data by validatorqueue.com shows.That the largest amount in the exit queue since January 2024, extending withdrawal delays to over 9 days, per the data source.The congestion is due to the dynamics of Ethereum’s proof-of-stake model, which limits how quickly validators can join or leave the network. Validators are entities that stake tokens to help secure the blockchain in return for a reward.Profit-taking after ETH...
Circle Downgraded to ‘Sell’ by Compass Point After Trump Signs Stablecoin Bill
The analysts expect more competition from traditional financial services organizations who are diving into stablecoin initiatives amid an improved political environment for digital assets.Source link
Profusa Launches $100 Million Bitcoin Treasury Strategy
Profusa is pivoting into bitcoin by securing a $100 million equity line of credit with Ascent Partners, committing all proceeds beyond a $5 million cash buffer to BTC as its primary treasury reserve asset. Biotech Firm Profusa Embraces Bitcoin Profusa Inc. (Nasdaq: PFSA), a digital health company, has taken a bold step into digital assetsSource link
Crypto Prediction Market Polymarket Weighs Launching Its Own Stablecoin: Source
Polymarket, the cryptocurrency-powered prediction market that recently attained a billion dollar valuation, is deciding whether to introduce its own customized stablecoin, or accept a revenue sharing deal with Circle based on the amount of USDC held on the platform, according to a person familiar with the plans.Polymarket’s motivation to create its own stablecoin is simply to own the yield-generating reserves that back the large amount of Circle’s USDC dollar-pegged token used to make bets on the popular betting platform, the person said.A Polymarket representative said no decision has yet been made on the stablecoin question.Legislation around stablecoins passed in the U.S. last week makes issuing a stablecoin all the more attractive a business proposition for both crypto native firms and...