Tag: Blockchain

TRX on Solana: 5 Key Benefits That Could Boost Crypto Liquidity

TRX on Solana: A New Era for Cross-Chain Crypto Transactions and DeFi

Justin Sun, the founder of Tron, has announced that TRX will soon be available on the Solana (SOL) network, sparking excitement in the crypto community.

TRX

In a post on X (formerly Twitter), Sun teased the integration but didn’t reveal specifics on how it will work. This move could simplify cross-chain transactions, leveraging Solana’s fast and low-cost network to enhance liquidity, boost trading, and foster collaboration with trending memecoins. It may also enter Solana’s growing DeFi ecosystem.

YOU MIGHT ALSO LIKE: Xapo Bank Launches $1M Bitcoin-Backed Loans to Boost Liquidity

While TRON has seen a rise in active addresses and a 5% price increase for TRX, questions remain about the launch process, including whether TRX will be wrapped or bridged. There are concerns about potential imposter tokens before the real launch. Solana has also been in the news recently for a controversial ad on gender issues, which was quickly pulled after criticism.

YOU MIGHT ALSO BE INTERESTED IN: Coinbase Stock Could Surge to $310 as Trump Backs Crypto

Xapo Bank Launches $1M Bitcoin-Backed Loans to Boost Liquidity

Xapo Bank has launched a new Bitcoin-backed credit line, offering eligible customers up to $1 million in U.S. dollar loans using their BTC as collateral. Borrowers can access up to 40 percent of their Bitcoin’s value and have up to a year to repay, depending on the loan size.

How Xapo Bank’s Bitcoin-Backed Loans Could Change Crypto Lending

The Gibraltar-based bank aims to reduce Bitcoin sell pressure by giving holders an alternative to liquidating their assets during market uncertainty. Unlike past crypto lenders like BlockFi and Celsius, which collapsed due to financial mismanagement, Xapo Bank operates as a fully licensed institution with a traditional banking structure.

YOU MIGHT ALSO LIKE: PancakeSwap’s CAKE Token Storms by 30%: What’s Driving the Hype

Xapo has been expanding its crypto services, teaming up with Hilbert Group in 2024 to launch a $200 million Bitcoin fund and introducing support for Ethereum and Cardano purchases in 2023. The bank’s latest move reinforces its position as a major player in crypto wealth management.

Coinbase Stock Could Surge to $310 as Trump Backs Crypto

Coinbase’s stock could climb to $310, according to Bernstein analyst Gautam Chhugani. With the stock currently at $182, that would be a 68 percent jump. Chhugani believes this surge is possible due to increasing U.S. support for crypto, particularly under Donald Trump’s administration, which aims to make the country a leader in blockchain innovation.

Is Coinbase making a comeback?

Chhugani has given it an outperform rating, signaling confidence that the stock will perform better than most. He describes Coinbase not just as a crypto exchange but as a universal bank for digital assets.

YOU MIGHT ALSO LIKE: Michael Saylor’s $35B Bitcoin Bet: Genius or Gamble?

The prediction comes after Trump hosted the first White House Crypto Summit on March 7 and signed an executive order to create a Bitcoin reserve using confiscated crypto. Many view this as a step toward integrating Bitcoin into the traditional financial system.

Coinbase

Joe Burnett, head of market research at Unchained, sees this as a turning point, saying the U.S. is acknowledging Bitcoin’s role in global finance.

YOU MIGHT ALSO LIKE: Bank of Korea Dismisses Bitcoin for Foreign Reserves Over Volatility Concerns

While Coinbase stands to benefit, regulatory changes take time. Anastasija Plotnikova, CEO of Fideum, noted that setting up a clear framework won’t happen overnight, though friendlier rules could help Coinbase solidify its position as a major player in crypto financial services.

Bank of Korea Dismisses Bitcoin for Foreign Reserves Over Volatility Concerns

Summary: The Bank of Korea has ruled out adding Bitcoin to its foreign exchange reserves, citing high volatility and liquidity risks. Despite growing global interest, South Korea remains committed to traditional financial assets.

The Bank of Korea (BOK) has officially rejected the idea of including Bitcoin in its foreign exchange reserves, emphasizing concerns over its extreme price swings and liquidity risks. Responding to an inquiry from Representative Cha Gyu-geun, the central bank confirmed that it has not reviewed or discussed Bitcoin as a reserve asset.

YOU MIGHT ALSO LIKE: Standard Chartered Slashes Ethereum Price Prediction by 60%, Cites Layer 2 Impact

BOK officials, as reported by The Korea Herald, stated that Bitcoin’s price volatility remains too high, with transaction costs potentially surging during market instability. Over the past month, Bitcoin has fluctuated between $98,000 and $76,000 before stabilizing around $83,000, reflecting a 15% drop since mid-February.

The decision comes amid growing global discussions on Bitcoin’s role in national reserves. Earlier this month, U.S. President Donald Trump issued an executive order to establish a strategic Bitcoin reserve.

At a seminar on March 6, crypto advocates and members of South Korea’s Democratic Party called for Bitcoin integration into reserves and the creation of a won-backed stablecoin. However, the BOK maintained that reserve assets must be highly liquid, immediately usable, and hold investment-grade credit ratings—criteria that Bitcoin does not meet.

YOU MIGHT ALSO LIKE: Binance Wallet Introduces Zero Trading Fees for All Assets

Experts suggest that potential IMF approval of stablecoins as foreign reserves could significantly reshape the financial landscape in the future.

Binance Wallet Introduces Zero Trading Fees for All Assets

Summary: Users of Binance Wallet can now swap all listed currencies for free, except for network gas fees. The zero-fee promotion lasts from March 17 to August 17 and covers swaps, bridging, and Quick Buy transactions within the wallet.

Binance, the world’s biggest crypto exchange, has launched zero trading fees for all the assets supported by its Binance Wallet. Traders can bridge, exchange, or buy assets without trading fees, although network gas fees will be charged.

YOU MIGHT ALSO LIKE: Strategy Expands Bitcoin Holdings with Another $10.7M Purchase

The campaign starts on March 17 at 8:00 UTC and lasts for five months until August 17. Binance clarified that the zero fees only apply to transactions made through the combined swap and bridge feature or Quick Buy on Binance Alpha.Third-party dApps are not covered under the campaign.

It’s to be noted that it is not a waiver of Binance Exchange trading but is especially designed for Binance Wallet customers alone. With Binance setting the pace in the crypto world with billions traded on a daily basis, this move may lead to increased use of its wallet products.

YOU MIGHT ALSO LIKE: Hamster Kombat Drops New Morse Code Challenge – Win 1M Coins!

Binance currently boasts over 264 million users, managing $139.3 billion in user funds, with a 24-hour trading volume of $13.4 billion. The exchange also recently secured a $2 billion investment from Abu Dhabi’s MGX, further solidifying its financial strength.

Strategy Expands Bitcoin Holdings with Another $10.7M Purchase

Brief Summary: Strategy, which was once MicroStrategy, bought 130 BTC to its inventory for $10.7 million, bringing its total holding to 499,226 BTC. The company, established by Michael Saylor, continues to believe in its Bitcoin strategy despite market volatility and a loss in its stock price.

Bitcoin corporate giant Strategy has added to its holdings, purchasing 130 BTC for around $10.7 million at an average price of $83,000 per BTC. The latest purchase contributes to the company’s total Bitcoin holding of 499,226 BTC, valued at over $33 billion with an average price of $66,360 per BTC.

YOU MIGHT ALSO LIKE: Hamster Kombat Drops New Morse Code Challenge – Win 1M Coins!

Strategy creator Michael Saylor purchased the unit on March 17, marking a 6.9% return on BTC year-to-date. Despite the purchase, Strategy’s STRK shares fell 1% during pre-market trading, Nasdaq data indicates.

The disclosure is a week after Strategy stated that it would raise more capital to buy more Bitcoins even if there is doubt in the market. The company will raise $21 billion using its class A strike preferred stock issue, a component of its ambitious “21/21” plan to raise and invest $42 billion worth of Bitcoin.

YOU MIGHT ALSO LIKE: Californian Man Sentenced to 7 Years for Crypto Money Laundering

An SEC filing recently suggests Strategy could use proceeds from sale for general corporate purposes, including further Bitcoin purchases. The company also has a buyback option in the event STRK drops 25% below its issue price.

Californian Man Sentenced to 7 Years for Crypto Money Laundering

Summary: John Khuu, a California resident, has been sentenced to 87 months in prison for laundering money through Bitcoin and selling fake drugs on the dark web. His arrest was part of Operation Crypto Runner.

A California man, John Khuu, has been sentenced to seven years and three months in prison for running a cryptocurrency-based money laundering scheme and selling counterfeit drugs. According to the U.S. Department of Justice, Khuu used Bitcoin to facilitate illegal transactions on the dark web.

YOU MIGHT ALSO LIKE: Hyperliquid DEX Hits $1T Volume, Rolls Out Major Risk Management Upgrade

Authorities in Texas presented evidence that Khuu illegally imported fake MDMA from Germany and sold it to U.S. customers through dark web marketplaces. He received payments in Bitcoin, which he later converted into U.S. dollars. He was also indicted separately in the Northern District of California for unlawfully importing a Schedule I controlled substance.

His arrest was part of **Operation Crypto Runner**, an initiative targeting high-level criminal organizations involved in illegal crypto activities. Khuu had faced multiple legal charges before his sentencing. The Eastern District of Texas charged him with money laundering on May 18, 2022, while the Northern District of California charged him with drug importation on August 17, 2022.

YOU MIGHT ALSO LIKE: $WOLF Token Crashes! Hayden Davis’ New Crypto Sparks Rug Pull Allegations

Authorities finally arrested him on August 19, 2022, at a residence in Garden Grove, California.

TRON Tops Blockchain Revenue, Beating Ethereum and Bitcoin

Summary: TRON is currently the top-grossing blockchain, overtaking Ethereum and Bitcoin. Stablecoin and memecoin trading has driven the increase while TRX, the cryptocurrency, has declined by 9.22% to $0.2230.

TRON is here as the top-grossing blockchain in the last week, trailed by Ethereum, Solana, and Bitcoin. The network also experienced high levels of user engagement, with a total of over 6.19 million active addresses and 60 million transactions, reflecting a 3.2% surge.

YOU MIGHT ALSO LIKE: Telegram’s Pavel Durov Leaves France for Dubai, TON Surges 20%

Bitcoin was not as lucky. The revenue in fees from mining on the network declined 45% and collected only $3.03 million. To make things worse, active addresses on Bitcoin decreased 7.5%, reflecting slower traffic on-chain.

TRON’s revenue growth is largely fueled by its increasing stablecoin ecosystem as well as the popularity of memecoins on its network. TRON alone accounted for $566 million in transaction-based revenue in Q3 2024, surpassing Ethereum and Bitcoin.Its popularity is driven partly by minimal transaction charges, as well as in DeFi and stablecoin markets.

YOU MIGHT ALSO LIKE: Hyperliquid DEX Hits $1T Volume, Rolls Out Major Risk Management Upgrade

Despite all that revenue surge, native token TRON, TRX, went down 9.22% last week. It’s currently selling at $0.2230 with a market capitalization of $21 billion.

Telegram’s Pavel Durov Leaves France for Dubai, TON Surges 20%

Summary: Telegram creator Pavel Durov has left France for Dubai after a court approved him to leave. His departure follows the continuation of an investigation into illicit use of Telegram. Toncoin (TON) reacted with an 18% jump, to $3.41, in response to the news.

Telegram’s founder, Pavel Durov, has officially left France after receiving court approval to travel. A French judge granted his request on March 13, allowing him to leave the country for several weeks. Sources confirmed he departed from Le Bourget airport near Paris with the authorities’ consent.

YOU MIGHT ALSO LIKE: XRP and the Federal Reserve? Viral Tweet Sparks Crypto Controversy!

Durov was detained in August 2023 after French prosecutors accused Telegram of enabling criminal activity. He was released on a $5.5 million bail but was prohibited from exiting France until the investigation was concluded. While the court now allows him to travel, it is not clear if he will be required to return.

News of his departure had a strong effect on the crypto market. Toncoin (TON), the cryptocurrency linked to The Open Network, surged over 18% to $3.41. Trading volume jumped 200% to $486 million, pushing its market cap to $8.4 billion.

Durov, who holds Russian, French, and UAE passports, maintains that Telegram is innocent of criminal activity. During a December 2024 hearing, he stated, “I did not create Telegram for criminals,” but conceded that others misuse the platform.

YOU MIGHT ALSO LIKE: India Arrests Russian-Lithuanian Tied to Crypto Money Laundering Case

His move to Dubai, known for its business-friendly policies, has sparked discussions about privacy and regulation. French officials have yet to comment.

India Arrests Russian-Lithuanian Tied to Crypto Money Laundering Case

Summary:Indian authorities have arrested Aleksej Besciokov, a Russian-Lithuanian citizen, for money laundering and violating U.S. sanctions through his role in the Moscow-based crypto exchange Garantex. The U.S. accuses him of handling illicit transactions worth billions and seeks his extradition. He faces up to 45 years in prison for charges including money laundering and operating an unlicensed financial service. His arrest follows a global crackdown on Garantex, with U.S. authorities seizing domain names and freezing $26 million in related funds.

Indian law enforcement has detained Aleksej Besciokov, a Lithuanian citizen residing in Russia, over allegations of laundering money and breaching international sanctions through the Russian cryptocurrency exchange Garantex. The arrest, a joint operation by the Central Bureau of Investigation (CBI) and Kerala Police, came after a U.S. request for his extradition.

YOU MIGHT ALSO LIKE: Ethereum’s Hoodi Testnet Drops to Fix Pectra Upgrade—Here’s Why It Matters!

Authorities caught Besciokov allegedly attempting to flee India. The U.S. Justice Department claims he managed Garantex, a Moscow-based exchange sanctioned in 2022 for processing over $96 billion in transactions tied to cybercriminals, terrorist groups, and drug trafficking networks.

Last week, U.S., German, and Finnish authorities dismantled Garantex’s digital infrastructure in a broader crackdown on illicit crypto activities. Besciokov faces charges of money laundering, violating the International Emergency Economic Powers Act, and operating an unlicensed financial service—offenses carrying up to 45 years in prison.

YOU MIGHT ALSO LIKE: Polymarket Shows 41% Recession Probability in 2025 as Trump’s Bold Moves Shake Economy

Following a U.S. request, India swiftly issued a warrant on March 10. Besciokov will soon appear in court for extradition hearings. Meanwhile, U.S. authorities seized Garantex-linked domains and froze $26 million in related funds. Experts warn that while this is a major victory against illicit finance, similar exchanges often reappear under new identities.

Exit mobile version