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Telegram Introduces New Payment Token; Semler Scientific Bolsters BTC Investment, and More Crypto News

Fernanda T
Latest News
June 07 2024 3:42PM

Telegram launches “Telegram Stars” to facilitate in-app payments

Telegram announced the launch of “Telegram Stars,” a new in-app token intended for purchasing digital goods and services. Pavel Durov, the company’s CEO, highlighted that the token allows simplified transactions in mini-apps, with the possibility of conversion to Toncoin (COIN:TONCOINUSD). Additionally, developers can use Stars to promote their apps within Telegram. Durov also revealed that Telegram will subsidize paid ads with Stars, economically encouraging developers to reinvest in the platform.

Semler Scientific expands Bitcoin investment and plans $150 million fundraising

Semler Scientific (NASDAQ:SMLR), a medical device manufacturer, announced the purchase of an additional 247 bitcoins for $17 million, totaling 828 BTC in reserves. The company also revealed plans to raise $150 million to expand its Bitcoin (COIN:BTCUSD) assets. This strategy follows the example of MicroStrategy (NASDAQ:MSTR), a pioneer in adopting Bitcoin as a corporate reserve asset. CEO Doug Murphy-Chutorian reaffirmed Semler’s commitment to diversifying its expansion and investment strategies, emphasizing protection against inflation and global instability as key motivations.

Crypto market falls after surprise in US jobs report

Bitcoin (COIN:BTCUSD) fell below $70,000, or about 2.5%, following the release of the US non-farm payrolls report, which showed an unexpected increase of 272,000 jobs in May, surpassing the forecast of 180,000. The surprise led to a widespread drop in the crypto market, with Ethereum (COIN:ETHUSD) down 3.6% and other tokens also losing value.

BlackRock Bitcoin ETF hits milestone with accumulation of 302,534 BTC

On June 6, US spot Bitcoin ETFs continued their impressive climb with 18 consecutive days of net inflows, totaling $217.7 million. For the week, funds have amassed nearly $1.7 billion in inflows. BlackRock’s ETF (NASDAQ:IBIT) led the day with $349.9 million in inflows, while Grayscale’s (AMEX:GBTC) recorded outflows of $37.6 million. With approximately 4,920 BTC in net inflows yesterday, BlackRock’s Bitcoin ETF has accumulated 302,534 BTC, according to its fund page.

Approval of Ether spot ETFs in the US depends on issuers’ response

Gary Gensler, SEC chairman, stated that the approval of Ether spot ETFs in the US depends on the issuers’ responsiveness to the commission’s comments. Although the SEC has approved listings for these ETFs, trading will only begin after additional approvals. Gensler emphasized that issuers’ responsiveness is crucial, dispelling concerns about possible deliberate delays by the SEC.

Kraken aims for IPO in 2025 after final $100 million funding round

According to Bloomberg reports, cryptocurrency exchange Kraken seeks to raise $100 million by the end of this year in a decisive funding round, aiming for an initial public offering (IPO) in 2025. The company is currently negotiating to incorporate a prominent member into its board to help organize and conduct the IPO. The exchange is expected to register its IPO with the SEC, which is currently litigating against the company for alleged illegal operation as an unregistered exchange and broker. Discussions are still in the early stages without formalization.

Coinbase launches h index to improve on-chain adoption analysis

Coinbase Global (NASDAQ:COIN) introduced the h index, a new metric designed to enhance the tracking of on-chain cryptocurrency adoption. This metric aims to overcome distortions caused by activities such as airdrops and Sybil attacks. The h index highlights the relationship between sending and receiving addresses, promoting a more accurate analysis of growth and activity in blockchain networks.

Base ascends to top Layer 2 chains by deposits

Base, the Layer 2 Ethereum network incubated by Coinbase, reached a milestone by achieving $1.7 billion in total value locked, placing it among the top three chains by deposits. This 20% growth since May propelled Base to surpass the OP Mainnet and establish itself behind only Arbitrum and Blast. Decentralized exchanges Aerodrome and Uniswap contributed to this success.

Cake Wallet integrates Lightning and boosts Bitcoin usability

In a significant update, Cake Wallet incorporated Lightning Network technology, expanding Bitcoin’s potential for everyday transactions. This innovation ensures faster and more cost-effective operations while maintaining high security and privacy. Roy Sheinfeld, CEO of Breez, highlighted that this integration could catalyze wider Bitcoin adoption, making it more accessible. The collaboration also involves incorporating Breez’s SDK into Cake Wallet, enriching its functionalities and strengthening an open crypto ecosystem. The feature is expected to be available to the public in July 2024, facilitating efficient and practical Bitcoin transactions for users.

Zilliqa announces 2.0 upgrade aiming for improvements and cross-chain integration

Zilliqa (COIN:ZILUSD) revealed details of its highly anticipated 2.0 upgrade, scheduled for release in late 2024. The new version promises significant advances in speed and efficiency, featuring x-shards, which allows customization of blockchain experiences. Additionally, the transition to a proof-of-stake consensus system and compatibility with the Ethereum Virtual Machine (EVM) aim to make the network more sustainable and integrated. The upgrade also introduces tokenomics improvements, fostering a more robust economy and reducing inflation.

Sky Mavis recovers $5.7 million with Norwegian government aid after exploitation

Sky Mavis, creator of the game Axie Infinity, announced the successful recovery of approximately $5.7 million stolen in the Ronin Bridge exploitation. This achievement was aided crucially by the Norwegian government, with the Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime (├śkokrim) playing a decisive role in freezing and returning the assets.

CoinGecko suffers data breach through third-party email tool

CoinGecko faced a significant data breach via GetResponse, its third-party email marketing tool, on June 5. A cyberattack compromised 2 million contacts and allowed the sending of 23,723 phishing emails. CoinGecko assures that user passwords and accounts were not affected. However, emails, IPs, and location data were exposed. The company is updating its security measures and advises users to be cautious of suspicious emails related to airdrops.

Twetch platform ceases operations, complicating NFT access

Twetch, a blockchain-based social media platform on Bitcoin SV and a rival to X, abruptly ceased operations on June 6, leaving users without access to NFT withdrawals and virtual collections. The company responded to investor concerns by stating that it is working on the issue. Despite the shutdown, the Twetch mobile app is still available for download. The platform also considers releasing its source code, allowing others to develop alternative versions of Twetch.

NY Attorney General files lawsuit over $1 billion crypto fraud

Letitia James, New York Attorney General, filed a lawsuit against AWS Mining and NovaTech for operating alleged pyramid schemes that defrauded more than $1 billion from Haitian-American investors and at least 11,000 New Yorkers. According to the accusation, the defendants, including Cynthia and Eddy Petion, lured investors with promises of high returns, using marketing strategies focused on vulnerable communities. The accused fled to Panama in 2022 after the fraud began to collapse.