#cash

On November 14, Solidion Technology, a key supplier of battery materials, announced a strategic shift towards Bitcoin by reallocating a portion of its cash reserves to the cryptocurrency. This move comes amid the rise of pro-crypto leadership in the U.S., following Donald Trump’s presidential victory.

UBS, the prominent Swiss bank, has revealed a successful pilot project for UBS Digital Cash, a blockchain-powered multicurrency payment solution aimed at improving cross-border transactions.

Today marks 16 years since the release of a document that laid the foundation for a new financial era—the Bitcoin whitepaper. On October 31, 2008, the enigmatic developer or group known as Satoshi Nakamoto released a paper titled Bitcoin: A Peer-to-Peer Electronic Cash System.

Circle has updated its terms for instant USDC cash-outs on the Circle Mint platform, raising fees and lowering the threshold for fee-free transactions. Now, daily redemptions exceeding $2 million incur a 0.03% fee, while amounts over $15 million are subject to a 0.1% fee.

In November 2022, FTX, once one of the largest cryptocurrency exchanges, filed for bankruptcy. Estimates indicated the company owed approximately $11.2 billion to its creditors.

BitGo is set to launch its own yield-bearing stablecoin, USDS, in early 2025. The stablecoin will be backed by cash and short-duration Treasury bills that generate returns. The initial market capitalization is expected to reach approximately $10 billion within the first year.

A U.S. court granted a three-month postponement in the case of Tornado Cash co-founder Roman Storm, despite the prosecution's objections.

In the face of escalating inflation (211%), Argentinians continue to actively purchase dollar-pegged stablecoins, steering clear of Bitcoin due to its high volatility. For cash purchases of these stable tokens, locals are turning to domestic P2P exchanges due to the country's stringent currency regulations.

The Ethereum Foundation has published a financial report detailing its assets, which amount to nearly $970 million. Of this, $788.7 million is held in cryptocurrencies, with ETH constituting 99.45% of the portfolio. Approximately $181.5 million is invested in conventional assets and cash reserves.

A number of Coinbase’s senior managers, including CEO Brian Armstrong, intend to sell more than $900 million in shares, as reported by Barron’s.

On October 9, 2024, SEC Chairman Gary Gensler spoke at an event at the New York University School of Law in Manhattan. Once again, he took the opportunity to lay out the familiar crypto concerns that the SEC, under his leadership, has been raising for years.

US federal judge Katherine Failla denied Tornado Cash founder Roman Storm’s bid to dismiss charges against him over $1 billion in money laundering. Thus, the case moves to the trial stage, set for December 2.

According to a survey by the Bank of Canada, only 2.5% of Canadians used cryptocurrencies for everyday payments last year. Predominantly, individuals continue to favor traditional forms of electronic payments such as those made via phone numbers or email over cash and bank cards.

A new product named Ether․fi Cash is designed as an alternative to the often complex and costly off-ramp process of converting cryptocurrency to fiat money. The developers hope that this innovation will allow cryptocurrency holders to operate entirely within the blockchain ecosystem.