Author: The Daily Hodl
Billionaire and founder of Tron (TRX) Justin Sun is revealing his Bitcoin (BTC) holdings on crypto exchange HTX. Sun tells his 3.5 million followers on the social media platform X that his HTX account holds 28,613 BTC, worth about $1.62 billion at time of writing. Sun is an advisor for HTX, formerly known as Huobi, and he says he is revealing his BTC holdings in response to critics saying he is not an active user of HTX. “My personal HTX account balance (just for those who are saying I’m not using HTX much)… Personally, I use almost all main exchanges…
Tether has released a plan to safeguard its stablecoin USDT in the event that the blockchains it operates on become unresponsive. According to a new press release, Tether is making improvements to increase both blockchain resilience and user protection in a worst-case scenario type of event. Because USDT is used on so many different blockchains, Tether says a “blockchain recovery plan” is necessary if any USDT transactions are disrupted. With such a plan in place, Tether aims to avoid any user disruption and maintain USDT accessibility. “Tether is a lifeline for hundreds of millions of users across the globe. Tether is…
Former Binance CEO Changpeng Zhao says he plans to launch an initiative to provide free education at the elementary and high school levels. Zhao, also known as CZ, tells his 8.9 million followers on the social media platform X that he intends to launch the Giggle Academy to reduce adult illiteracy rates, which are disproportionately higher in South Asia, West Asia and sub-Saharan Africa. Says Zhao, “My next project: Giggle Academy (No logo yet). Free basic (grade 1-12 ish) education, for all. No revenue. Gamified. Adaptive. Read the concept paper at giggleacademy.com. We are hiring. Small team, work directly with…
Closely followed crypto analyst Jamie Coutts says one indicator with a history of calling Bitcoin Q2-Q3 rallies is potentially about to flash green for BTC. Coutts tells his followers on the social media platform X that the dollar index (DXY), which measures the strength of the US dollar against a weighted basket of other major foreign currencies, is a critical indicator to watch for Bitcoin. DXY is often inversely correlated with risk assets, rising when they sell off and falling when they rally. According to Coutts, every summer (June to September) Bitcoin rally has been sparked by a weakening dollar…
Binance’s head of financial crime compliance reportedly appeared at a Nigerian court hearing on Thursday following charges of money laundering and tax evasion. Nigerian prosecutors have asked that Tigran Gambaryan, Nadeem Anjarwalla and Binance itself be put on trial for operating without the required license, unlawfully negotiating foreign exchange rates, tax evasion and concealing the origin of illegal proceeds and revenue of $35.4 million, according to a report from Associated Press. However, only Gambaryan appeared in court, as his colleague Anjarwalla fled Nigerian custody last month. A spokesperson for Anjarwalla said, “Nadeem left unlawful custody on Saturday [March 23rd], he…
Bitcoin (BTC) is flashing a bullish signal based on one historical factor, according to market intelligence platform Santiment. In a new thread, the crypto analytics firm says that it appears as if the top crypto asset by market cap is losing momentum after skyrocketing nearly 150% since October. However, Santiment notes that historically, the more people are worried about BTC in the long term, the higher the chances are of a continued market rise. “Is crypto still in a bull market after Bitcoin’s +144% price return since October 15th? Well, according to the crowd, the belief has fizzled out significantly.…
A widely followed crypto strategist believes that top meme token Dogecoin (DOGE) looks bullish even after last week’s marketwide correction. Pseudonymous analyst Altcoin Sherpa tells his 214,100 followers on the social media platform X that DOGE has managed to stay above a key support level on the weekly chart even after dropping to a seven-day low of $0.169. With the weekly support intact, the trader now sees DOGE igniting a nearly 60% rally from current levels. “DOGE: held above [the] weekly level for now, resume the pump to $0.32. I think being long DOGE is a completely reasonable idea and…
The blockchain infrastructure project Espresso Systems has raised $28 million in a Series B funding round led by investment giant Andreessen Horowitz (a16z). Espresso aims to increase interoperability between Ethereum (ETH) rollups by building a marketplace where rollups can sell the right to build their blocks to bidders. Rollups are solutions that execute transactions outside of Ethereum’s blockchain but record the transactional data. Espresso notes that Polygon, Taiko, o1Labs, StarkWare, Offchain Labs and strategic investors from more than 30 ecosystem projects joined their recent Series B round. The project had already raised $32 million between a seed round in 2020…
The Blockchain Association, a prominent crypto advocacy group, is showing support for the two developers of mixing service Tornado Cash in their legal battle against the United States. Last year, the U.S. Department of Justice (DOJ) charged Tornado Cash founders Roman Storm and Roman Semenov with aiding the North Korean hacking group Lazarus in laundering illicit funds through the mixing service. Last week, lawyers for Storm pushed to have the case dropped, arguing that the developer simply created decentralized software solutions to “provide financial privacy to legitimate cryptocurrency users,” which is technically not a crime. Now, the Blockchain Association is…
Banking giant HSBC has reportedly launched a tokenized gold product for its retail customers in Hong Kong as the bank and the government both push to make real-world assets available in digital form. SCMP reports that the HSBC Gold Token, which is now available on HSBC’s online banking and mobile app, is the first tokenized gold product to be issued by the bank. Tokenized gold is the digital representation of physical gold on a blockchain. Citing data from crypto data aggregator CoinGecko, the report says the value of tokenized gold assets surpassed $1 billion in 2023. HSBC’s gold token is…