Charles Hoskinson, creator of Cardano and CEO of IOHK, commented on the launch of the community association PRAGMA. In an X statement on April 22, Hoskinson praised PRAGMA for supporting Cardano-related projects, noting that “multiple clients and a diverse and resilient ecosystem” are essential for Cardano. He further encouraged the community, stating: “I’m excited to see groups come together to start building these clients and projects.” Hoskinson said he was unaware of PRAGMA until recently and has not formally met with the group on various issues. He added that PRAGMA will “not speed up ..read more

Bitcoin’s (BTC) value plummeted below $65,000 on April 12, a stark drop from its $71,000 peak earlier in the day, as a wave of selling hit the crypto and equities markets, causing some altcoins to fall more than 15% in a matter of minutes. The decline mirrored a broader selloff across asset classes amid heightened global economic uncertainties and geopolitical risks. Bitcoin has slightly recovered since the violent drawdown, trading at around $67,300 as of press time, based on CryptoSlate data. Ethereum, the second-largest crypto by market capitalization, fell 12% to $3,100 before paring some ..read more

Prominent crypto asset management firm Grayscale has removed two high-profile digital assets, Cardano and Cosmos, from its multi-asset funds as part of its quarterly fund rebalancing. In an April 4 press statement, the firm revealed that it removed Cardano from its Grayscale Digital Large Cap Fund (GDLC) and Cosmos’s ATOM token from the Grayscale Smart Contract Platform Ex-Ethereum Fund (GSCPxE). Why Grayscale removed Cardano and Cosmos According to the firm, the changes were prompted by CoinDesk’s recent rebalancing of its industry sector indices. Grayscale further explained that the componen ..read more

The Cardano blockchain has welcomed its first fiat-backed stablecoin with the introduction of the USDM by Mehen Finance on March 17. According to the project: “USDM will slowly be arriving on-chain the week of the 18th.” The launch of this stablecoin comes almost two years after the release of its white paper. Matthew Plomin, the project’s founding partner, explained that the stablecoin launch was delayed due to issues with US banks in 2023. What is USDM USDM allows holders to mint and redeem their assets through fiat US Dollars by leveraging the fintech firm Plaid. Plaid is a US-based finan ..read more

Global digital asset investment products saw significant inflows last week, totaling $2.45 billion. The latest weekly report from CoinShares confirmed the surge in the inflow of funds into digital asset investment products, which pushed the assets under management to a peak not seen since early 2022, now standing at $67 billion. The US spot ETF market played a pivotal role in this development, capturing $2.4 billion of last week’s inflows. Bitcoin remains the clear market leader, garnering approximately 98% of total inflows last week. Increased confidence also permeated through to Ethereum, re ..read more

With Bitcoin down some 20% from its year-to-date high, it’s often helpful to zoom out and look at the broader picture. I have a saved chart of all the tokens listed in the Coinbase and Binance lawsuits filed (C&B suits) on June 6 and June 5, 2023, respectively, and their prices as denominated in Bitcoin. For context, both Binance and Coinbase are currently defending their positions in U.S. courts. The central issue in both lawsuits is whether the crypto assets offered by these exchanges should be classified as securities and, therefore, fall under SEC regulation. The tokens described as po ..read more

The total value of assets locked (TVL) in Cardano’s decentralized finance (DeFi) ecosystem is approaching a 21-month high of $300 million on the back of the blockchain network’s native ADA token bullish price movement. Per DeFillama data, Cardano’s TVL sits at $298 million as of press time, representing a 508% growth on the year-to-date (YTD) metric for a network whose TVL stood at under $50 million at the start of the year. Cardano blockchain decentralized finance TVL. (Source: DeFillama) TVL measures the value of digital assets locked in a particular DeFi protocol/ecosystem. It can be used t ..read more

Cardano founder and Ethereum co-creator Charles Hoskinson criticized Vitalik Buterin in a tweet on Nov. 25 for not acknowledging Cardano (ADA) for its innovations in staking. Hoskinson’s remarks followed a recent interview, where Buterin discussed the Ethereum roadmap and proposed redesigning Ethereum’s (ETH) staking system to combat issues around centralization. During the interview, Buterin went over potentially adopting the UTxO approach, which relies on unspent transactions, to address these challenges. This model differs from Ethereum’s current account-based system and is used by some blo ..read more

Charles Hoskinson, Cardano (ADA) founder, said he is “game” to help Kraken crypto exchange build its layer-2 network, according to a Nov. 12 post on social media platform X. Layer-2 networks are scaling solutions that provide scalability and speed to a layer-1 blockchain. These projects have become popular recently due to their cheap transaction fees and ability to improve transaction speed on layer-1 blockchains. Hoskinson did not provide additional information on how Cardano could help Kraken build its layer-2 network solution. However, Conrad, a Cardano-based Blade pool operator, pointed ou ..read more

Input Output Global (IOG), the company behind Cardano (ADA), has appointed two former Algorand (ALGO) executives to lead its new stablecoin-focused venture. In an Oct. 23 statement, IOG revealed that it had appointed Sean Ford, a former CEO of Algorand, to helm the affairs of the unnamed stablecoin venture. David Markley, another former executive from the same rival blockchain network, would support him as COO. IOG did not provide additional information about its new stablecoin company. IOG CEO Charles Hoskinson highlighted the new venture’s important role in “developing stablecoins and other ..read more