Binance and nine other foreign crypto exchanges were originally blocked in India due to non-compliance with the country’s Anti-Money Laundering (AML) regulations, but Binance is set to return after a four-month absence by paying a $2-million fine, according to The Economic Times. The Indian Financial Intelligence Unit (FIU) mandated that foreign crypto exchanges, including Binance, […] Source link The post Binance Set to Re-Enter Indian Market With $2 Million Fine Settlement appeared first on AabeyLLC Crypto ..read more

In the last 12 days of April, the stablecoin sector expanded by $4.46 billion, reaching a current valuation of $155.86 billion. Additionally, the top five dollar-pegged cryptocurrencies experienced an increase in their supplies over the last 30 days. Top Dollar-Pegged Cryptos See Growth Amid April’s First 12 Days As of Friday, April 12, 2024, the […] Source link The post Stablecoin Market Expands by $4.46 Billion in 12 Days appeared first on AabeyLLC Crypto ..read more

Federal Reserve Chair Jerome Powell has indicated that interest rate cuts may be further off than anticipated. He cites recent inflation data that defies earlier expectations of a rapid decline.  The decision signals a potential shift in the Fed’s approach. It will also potentially reopen the debate about Bitcoin’s effectiveness as an inflation hedge. Is Bitcoin Still a Safeguard Against Inflation? Powell acknowledged that despite initial progress, inflation rates have yet to show sustained improvement towards the Fed’s 2% target. “The recent data have clearly not given us greater co ..read more

The smart money protocol Umoja has joined forces with the Bitcoin layer two (L2) initiative, Merlin Chain, to roll out a Bitcoin-based high-yield synthetic dollar. The newly introduced stablecoin is engineered to uphold a self-sustaining peg via transparent, onchain trading techniques developed by Umoja. Merlin Chain and Umoja Reveal USDb: The New High-Yield Synthetic Dollar […] Source link The post Umoja Partners With Merlin Chain to Launch Bitcoin’s First High-Yield Synthetic Dollar appeared first on AabeyLLC Crypto ..read more

DeFi market maker Swaap Finance has launched a new service called Swap Earn, allowing users to earn an extra yield on already yield-bearing assets. The protocol tops up investor returns through market-making yield, spreading investors’ assets across multiple pre-defined protocols. Yield On Top Of Yield Market making is when DeFi users provide liquidity to decentralized exchanges, allowing fellow crypto buyers to easily find sellers, and vice versa. Market-making yield can come from one of two sources: trading/swap fees, or intrinsic token rewards. Per a press release shared with CryptoPota ..read more

The bull market euphoria appears to have come to a screeching halt as the crypto market correction continues and digital assets keep dumping. On April 16, prominent market analyst “Cold Blooded Shiller” told his 269,000 followers on X that Bitcoin is “still the cloud that hangs over crypto.” BTC has retreated 15% from its March 14 all-time high, but historical market cycles have seen corrections of more than 30%. This could potentially send BTC prices back to around $51,000, which could send the rest of the altcoins into an even deeper freefall. This is still the cloud that hangs over cry ..read more

The fifth-largest stablecoin in the crypto economy by market capitalization, Ethena’s USDE, temporarily detached from its peg on Saturday amid market declines. Data reveals that the token, designed to mirror the U.S. dollar’s value, declined to $0.965 each. Similarly, the market witnessed the fourth largest stablecoin, FDUSD, fall to a low of $0.9557 per coin. […] Source link The post USDE and FDUSD Experience Brief Depegs Amid Saturday’s Crypto Market Shake-Up appeared first on AabeyLLC Crypto ..read more

The Swiss-based not-for-profit organization the Dfinity Foundation has launched “a decentralized, onchain global acceleration platform.” The new accelerator will initially be funded by a $15 million grant from Dfinity and the ICP Asia Alliance. Fostering the Development of the Asian Web3 and AI Ecosystem The Dfinity Foundation, a not-for-profit organization and key contributor to the […] Source link The post Dfinity Foundation Launches Onchain Accelerator Platform appeared first on AabeyLLC Crypto ..read more

Anza, a collective of developers focused on the Solana blockchain, has produced a fix that aims to reduce the congestion that the network has been experiencing. The new version of Solana, now being tried in testnet, includes a feature called stake-weighted quality of service (SWQOS), that prioritizes transactions from higher quality validators. Solana Gears up […] Source link The post Solana Developers Test Congestion Fixes in Testnet, Introduce Measures to Prioritize Traffic appeared first on AabeyLLC Crypto ..read more

Pac Finance, a lending app on Blast, has had its users report a $24 million liquidation on April 11 due to a sudden change in parameters by the developer wallet. Mass liquidations are common for leveraged traders who borrow crypto, but they often occur due to fluctuations in the market, not protocol parameter changes. Pac Finance LTV Change Leads to Liquidation Pac Finance is a platform where crypto holders can earn interest by lending their assets. The app implements a loan-to-value ratio (LTV), which limits borrowers to loans equivalent to a certain percentage of their collateral to ensu ..read more