Tag: web3

Emirates NBD Opens Crypto Trading for Liv Users in Dubai

Summary: Dubai’s biggest bank, Emirates NBD, now lets customers of its digital bank, Liv, trade crypto via the Liv X app. Partnering with Aquanow, a VARA-approved firm, the move taps into the UAE’s booming crypto market.

As world banks jump on the crypto bandwagon, Italy’s Intesa Sanpaolo recently made its first-ever Bitcoin buy and Switzerland’s PostFinance AG began Ethereum staking. Bitcoin’s rollercoaster, peaking at $109,241 and then dropping to $91,520, fuels the frenzy.

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Liv’s crypto platform is driven by Aquanow technology, and assets are held by Zodia Custody. As the Dubai crypto market picks up, regulations tighten to protect investors.

Emirates NBD has entered the crypto space, allowing Liv customers to buy, sell, and swap cryptocurrencies on the Liv X app. Joining forces with Dubai VARA-approved digital asset company Aquanow, the bank is hoping to catch the UAE’s high level of crypto adoption.

Banks globally are also taking note. Italy’s Intesa Sanpaolo recently bought Bitcoin, and Switzerland’s PostFinance AG introduced Ethereum staking.

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Bitcoin’s surge to $109,241 on Jan. 20, and then the drop to $91,520, has been keeping traders on the edge. In the meantime, Dubai regulators are clamping down on crypto advertisements to protect investors.

As major banks are opening their doors to cryptocurrency, mainstream adoption is more of a reality than ever before. Will more banks join the bandwagon?

Kaia’s Mini DApps Surge Past 35M Users, $2M Spent in Weeks

Summary: Kaia’s Mini DApps, which are incorporated into LINE Messenger, have acquired 35 million users in just one month. There has been in-app purchase for $2 million, with an average spend of $39. The platform is performing exceptionally well in Japan, Taiwan, Thailand, and Korea, which are the markets with high in-app spending.

Kaia’s blockchain has added 7.37 million new wallets, a 1,168% jump, making it the third-largest EVM chain for active wallets. Monthly transactions rose 124% to 27.38 million, while active users on the chain grew 252% to 8.1 million.

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Kaia and LINE NEXT are bridging Web2 and Web3, making blockchain feel seamless for LINE’s 196 million users. Next, Kaia plans to launch its own USD stablecoin for smoother transactions.

Kaia’s Mini DApps, running on the Kaia blockchain and integrated into LINE Messenger, have skyrocketed past 35 million users just one month after launch. Since January 22, users have spent $2 million, with each paying user averaging $39, and 13% opening their wallets.

The DApps are thriving in Japan, Taiwan, Thailand, and Korea, where in-app purchases are especially popular. Asians spend an average of 40% more on these kinds of purchases than others, so the region is a prime target market for Web3 adoption.

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LINE Messenger Dapp Portal has fueled astounding growth, obtaining 3 million of Kaia’s 7.37 million new digital wallets—a staggering 1,168% increase. Monthly transactions jumped 124% to 27.38 million, and users on the Kaia blockchain jumped 252% to 8.1 million.

Youngsu Ko, CEO at LINE NEXT, sees this as proof that Web3 is going mainstream since increasingly more DApps are in the pipeline for token listings. Chairman of Kaia DLT Foundation Dr. Sam Seo highlights how Mini DApps are driving profitable growth and scaling Web3.

Next, Kaia will introduce a USD stablecoin to simplify payments and allow builders to cash out using $KAIA and fiat-backed stablecoins. This is another step towards making blockchain payments a part of everyday life in Asia’s leading messaging platforms.

FAFO Memecoins Take Over Pump.Fun After Elon Musk’s Tweet

Summary: A single tweet by Elon Musk has spawned a torrent of FAFO-themed memecoins on Pump.Fun. The insanity began when Musk half-jokingly suggested that “FAFO” could be the DOGE enforcement wing. There have been hundreds of FAFO tokens since then, most with small market caps and no trading volume. While some traders try to capitalize on the hype, history shows these coins rarely hold lasting value.

Elon Musk has once again set off a memecoin frenzy. On February 23, he jumped into a discussion on X about renaming DOGE as the “Federal Agency for Financial Oversight (FAFO).” Musk quipped, “Maybe FAFO can be the enforcement arm of @DOGE.” That single tweet was enough for memecoin creators to flood Pump.Fun with FAFO-themed tokens.

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Since then, numerous FAFO memecoins have launched, including:
– FAFO (FAFO) – Peaked at a $349,494 market cap with $230K in trading volume.
– F**k Around & Find Out (FAFO) – $48,045 market cap, but zero volume.
– FederalAgencyFinancialOversight (FAFO) – $8,888 market cap, no volume.
– Fafo (FAFO) – $8,134 market cap, no volume.

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This isn’t the first time X-driven hype has fueled memecoin mania. When Kash Patel was rumored as the next FBI director, Pump.Fun was flooded with fake coins using his name. While some traders try to ride the wave, most of these tokens have little real value.

TradeSta Partners with Avalanche for Perpetual Trading on Crypto and RWAs

Summary: TradeSta has teamed up with Avalanche to introduce rapid, low-fee perpetual trading of cryptocurrencies, real-world assets (RWAs), commodities, and metals. The partnership utilizes Avalanche’s C-Chain for immediate transactions and smooth execution without undue latency and fees on other platforms. TradeSta is launching its MVP with early access incentives, including a $25 token reward and eligibility for future airdrops. This phase is concerned with connecting legacy finance and DeFi and increasing usage applicability for perpetual contracts. Avalanche perpetual leverage trading is introducing Avalanche perpetual leverage trading by DeFi trading platform TradeSta with agility and low-cost transactions in crypto, RWAs, metals, and commodities. With the use of Avalanche’s C-Chain’s near-instant finality, TradeSta aims to nullify high fee and poor performance encountered in bottlenecked networks.

To put adoption on the right track, TradeSta is launching its MVP via an early access program. Members receive $25 in non-transferrable tokens and can receive subsequent airdrops in exchange for feedback. This builds a tight-knit trading community with seamless platform development.

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Beyond crypto, TradeSta is innovating perpetual contracts by merging RWAs and commodities. This aligns with the new trend of tokenized assets, which could bring traditional finance together with DeFi.

With leverage of up to 100x on major assets and future plans to include additional Avalanche-native protocols, TradeSta’s integration with Avalanche could redefine decentralized trading.

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As of March 5, 2025, AVAX is trading at $20.76, an increase of 5.48% over the day, a high of $21.28 and a low of $18.98, and its volume over the last 24 hours is $609 million.

TRUMP Developer Wallet Deploys $2M Liquidity—What It Means for the Price

Summary: A wallet belonging to the TRUMP meme coin creator has inserted $2 million worth of range liquidity on Meteora DEX, which forms a price range between $12.7 and $17.9. The step will keep the token price within the range stable by purchasing TRUMP as long as liquidity is present. Despite speculations by some that it means TRUMP is unable to break outside these levels, the price is not technically limited. The move suggests developers think this range is fair value, with potential sell-offs at the top end. One of the wallets belonging to the developer of the TRUMP meme coin has added liquidity on Meteora DEX between $12.7 and $17.9, where the TRUMP-USDC pair is actively traded.

This means the wallet will continue buying TRUMP within this range until the allocated $2 million runs out.

Blockchain analytics firm Arkham Intelligence highlighted the move, noting the address has already accumulated $170,000 worth of TRUMP tokens. Since the wallet received TRUMP directly from the developer’s main address, it is assumed to be one of the developer’s wallets.

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This strategy suggests developers perceive this range of prices as an affordable value. Others are expecting TRUMP to fail to move above these levels in the public, but this is not the case. Nevertheless, as price levels approach $17.9, there may be a selling off, but at $12.7 it would be a support.

TRUMP, released on January 18, 2024, previously traded as high as $74 following the announcement by Donald Trump when his inauguration term started.

Should In-N-Out Burger Start Accepting Bitcoin? Viral Tweet Sparks Debate

Summary: A tweet by an In-N-Out fan account has sparked controversy over whether the burger chain should begin accepting Bitcoin. While there are no company-planned plans, the idea has gained traction, a sign of increased interest in cryptocurrency payments for fast food.

On March of the running year, the fan account @InNOutBurger_fan posted, “Should In-N-Out accept Bitcoin?” The tweet quickly gained attention, with crypto enthusiasts debating the potential for mainstream adoption.

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In-N-Out does not currently accept Bitcoin or any other cryptocurrency, and there is no official statement indicating a change. However, the tweet has fueled speculation on whether crypto payments could become a reality in fast food.

Other brands have already explored similar moves. In March 2024, Compass Coffee in Washington, D.C., partnered with Coinbase to offer discounts for payments made in USDC. In El Salvador, where Bitcoin is legal tender, Starbucks began accepting it as payment.

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If In-N-Out were to adopt Bitcoin, it could signal a shift in how major fast-food chains approach digital currencies. For now, it remains just an idea—but one that has the internet buzzing.

White House and Lawmakers Push Back Against IRS DeFi Broker Rule

Summary: The White House is backing a Congressional Review Act (CRA) introduced by Senator Ted Cruz to overturn the IRS’s DeFi broker rule requiring KYC reporting by DeFi platforms. It has been branded an attack on the crypto sector by critics like Crypto Tzar David Sacks.The CRA only needs a simple majority to pass and can set the direction for future US regulations of crypto.

US legislators are moving to repeal the IRS’s broker rule that treats DeFi creators and front-end platforms as brokers who must track transactions and apply Know Your Customer (KYC) procedures. The rule applies to all digital assets, including NFTs and stablecoins.

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Republican Senator Ted Cruz is leading the push to pass the CRA, officially known as S.J. Res. 3, which would reverse the IRS regulation. The first vote was scheduled for March 5 but may be delayed due to scheduling conflicts, such as the State of the Union address.

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Critics of the rule argue that it disproportionately burdens DeFi creators and stifles innovation. Crypto Tzar David Sacks has called it “an 11th-hour attack” by the Biden administration. The White House prefers the CRA, stating the rule harms US crypto businesses and invades privacy. If the CRA prevails, it would stop similar regulations and signal a pro-crypto trend for future US government policies.

Crypto Market Surges as Trump Unveils U.S. Crypto Reserve Plan

Summary: The crypto market went wild after Donald Trump announced a proposal for creating a U.S. cryptocurrency reserve, which caused a staggering $863 million worth of liquidations. Bitcoin and altcoins saw tremendous price increases, with BTC hitting $92,000.

The cryptocurrency market went into a frenzy following the revelation by former U.S. President Donald Trump of a historic initiative to create a U.S. Crypto Strategic Reserve. His initiative, which aimed at making “America First” in the digital asset space, created a frenzy that recorded $863 million worth of liquidations over the past 24 hours.

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More than 191,000 traders saw their positions wiped out, including one massive liquidation of $15.49 million on Binance’s BTCUSDT pair. In total, $298.66 million came from longs—traders betting on price increases—while $547.17 million came from shorts who were expecting declines.

Bitcoin saw $315.14 million in liquidations, while Ethereum lost $160.23 million. There were large liquidations of XRP, Cardano, and Solana when prices increased as well. Trump announced, via Truth Social on 2 March 2025, that he favored XRP, Solana, and Cardano initially, then added Bitcoin and Ethereum.

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The market responded instantaneously. Bitcoin rose from $85,207 to $91,929 in 90 minutes and is now trading at $92,000. Ethereum increased by 10% to $2,410, XRP increased by 22% to $2.75, Solana increased by 15.15% to $165, and Cardano stole the show with a whopping 53.21% increase to $1.02.

Trump’s move has shaken the market, turning it into a full-fledged rollercoaster.

Binance CEO Applauds Japan’s Transparent Crypto Rules

Summary: Binance CEO Richard Teng praised Japan’s simple crypto regulations and rising adoption, referring to the country as having over 11 million crypto accounts in the previous year. In his speech at the Global Financial Technology Network Forum, he pointed out how Japan’s policies allow safe and sustainable development in the industry.

Binance CEO Richard Teng has complimented Japan’s regulatory strategy on cryptocurrency as transparent and a model for the development of the industry. Speaking at the Global Financial Technology Network Forum in Japan, Teng said that the country’s adoption of cryptocurrencies is growing, with over 11 million accounts in the previous year.

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He emphasized that Japan’s well-established regulatory framework supports a secure and sustainable digital assets environment. The country’s rules, led by the Financial Services Agency (FSA), offer transparency via the Payment Services Act (PSA) and the Financial Instruments and Exchange Act (FIEA). The legislations require exchanges to register, have stringent anti-money laundering (AML) and counter-terrorism financing (CFT) measures, and adhere to guidelines from the Japan Virtual Currency Exchange Association (JVCEA).

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Japan’s stringent regulation was seen when the FSA recently issued Bybit, KuCoin, MEXC Global, Bitget, and Bitcastle warnings for their operations without registration. Teng’s remarks point to Japan’s model being employed as a template by other countries looking to balance innovation and investor protection in the cryptocurrency space.

Singapore Busts NVIDIA GPU Smuggling Ring

Summary: Singapore police detained three men for smuggling NVIDIA graphics processing units to China, a charade uncovered in raids on February 27. The suspects, two Singaporeans and one Chinese national, are said to have deceived suppliers in an attempt to bypass stringent US export controls on high-end chips.

Authorities seized documents and electronics, while six others remain under investigation. The US has been cracking down on illegal GPU exports, fearing China’s access to advanced AI hardware. Singapore, now NVIDIA’s second-largest revenue source, is suspected of being a re-export hub, though NVIDIA denies wrongdoing.

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Meanwhile, the US Commerce Department is investigating Chinese AI firm DeepSeek for possibly using banned chips. Singapore’s government has warned companies against dodging export laws, reaffirming its stance against misuse of its trade system.

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