Tag: web3

N1’s Big Leap: New Blockchain Gains Major Investor Support Before Mainnet

Summary: N1, Founders Fund-backed high-performance Layer 1 blockchain, is ready to launch mainnet with solid investor backing from the likes of Multicoin Capital and Arthur Hayes. Designed for decentralized applications (dapps), N1 removes computing and speed limits and supports multiple programming languages, all simplifying development. With its NTS smart contract platform and N1 Studios initiative, the project seeks to drive blockchain technology forward, offering developers the tools and resources required to create the next generation of on-chain applications. N1, a new Layer 1 blockchain, is making waves ahead of its mainnet release, with large investors doubling down on their bet. Founders Fund, Multicoin Capital, and Arthur Hayes are just a few of the most notable supporters who believe in N1’s vision of revolutionizing how blockchain development occurs.

The project belongs to the same team that made 01, which they shut down in order to create something new.Their new focus is on unlimited, high-speed computing for decentralized applications (dapps) to remove the hurdles that have restrained blockchain innovation.

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N1, unlike other platforms for smart contracts, supports more than one programming language, starting with TypeScript and followed by Python and others. This enables developers to develop dapps as seamlessly as they can create regular software without needing to grapple with difficult blockchain programming.

N1’s unique architecture separates settlement and execution layers, improving security and efficiency. Each app gets its own dedicated space, allowing it to scale without being constrained by network-wide bottlenecks.

To further boost adoption, the team launched NTS—the first-ever TypeScript-based smart contract platform—now available to select early developers. These testers are already building groundbreaking apps that weren’t possible before.

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But N1 isn’t stopping at just creating a platform—it’s actively shaping its ecosystem. Through N1 Studios, the project is funding and mentoring developers to create powerful on-chain applications. Instead of waiting for adoption to happen naturally, N1 is taking the lead in driving the next era of blockchain innovation.

Binance Brings Back USD Deposits and Withdrawals After 18 Months

Almost a year and a half afterwards, Binance.US eventually reopened USD deposits and withdrawals, a big step up for the exchange.

In a recent blog post update, Binance.US stated that customers will once more be able to deposit and withdraw USD through bank transfers (ACH). The feature will be available to all worthy customers within the next several days. To go along with this, the website is also returning fee-less ACH transactions, crypto staking, OTC trading, and a feature which enables customers to turn small cryptocurrency balances into usable cash.

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Interim CEO Norman Reed called the move a major milestone. “We are thrilled to restore fiat rails as we gain momentum in the new year,” he said, adding that this moment is one of the most unexpected comebacks for Binance.US since its struggles two years ago.

The exchange halted USD transactions in June last year after the SEC sued Binance and its founder, Changpeng “CZ” Zhao, accusing them of breaking securities laws and mishandling billions in customer funds. By October, Binance.US had stopped accepting USD entirely.

And then in November, the company resolved with U.S. regulators in a record-breaking $4.3 billion agreement, one of the largest in history. Under the agreement, Binance committed to adhering to regulatory requirements.

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Today, with regulations evolving and maybe a shift of government policy later this year, Binance.US is restarting full fiat services, possibly a turning point for crypto in the United States.

ED Seizes ₹1,646 Crore in Crypto from Ahmedabad Man Tied to BitConnect Scam

Summary: Indian officials have confiscated ₹1,646 crore ($197 million) of cryptocurrency from an Ahmedabad resident connected to the BitConnect Ponzi scheme. The Enforcement Directorate (ED) also seized cash, a luxury sports utility vehicle, and digital devices as part of its ongoing investigation.

India’s Enforcement Directorate (ED) has conducted one of its biggest crypto seizures, freezing ₹1,646 crore ($197 million) in digital assets in relation to the BitConnect scam. Besides crypto, authorities also froze ₹13.50 lakh in cash, an SUV, and various digital devices in their raid in Ahmedabad.

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BitConnect, a well-known international Ponzi scheme established by Satish Kumbhani, attracted investors with a guarantee of 40% returns every month through a so-called “volatility software trading bot.” Investors sent in Bitcoin (BTC), which was exchanged for BitConnect’s own token BCC. The Ponzi scheme also used multi-level marketing (MLM) strategies, in which users were compensated for recruiting new investors.

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After operating between 2016 and 2018, BitConnect fell apart after regulators stepped in, causing investors across the globe to lose billions. The ED has been probing the case since 2018, earlier seizing ₹489 crore worth of assets. Officials have also confirmed foreign involvement, and Kumbhani is still under US federal investigation.

Hackers Impersonate Saudi Crown Prince, Launch Fake $KSA Memecoin

Summary: Scammers hacked an account pretending to be Saudi Arabia’s Crown Prince Mohammed bin Salman, using it to promote a fake memecoin, $KSA, and another token, $FLCN. The tweets vanished quickly, and officials confirmed the hack.

In another wild crypto scam, hackers took control of an account impersonating Saudi Crown Prince Mohammed bin Salman and used it to launch a fake Saudi Arabia Memecoin ($KSA). The tweet went out at 15:00 UTC, luring in unsuspecting investors.

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But that wasn’t enough for the scammers. Shortly after, they promoted another token, FALCON ($FLCN), directing users to a suspicious website, FLCN.meme. The posts stirred up some hype before vanishing into thin air.

Now, the hacked account has been drained, and police confirmed that it had indeed been hacked. It was the classic crypto scam playbook: impersonate a prominent person, generate buzz, present fake coins, and disappear before the victims can figure out what happened.

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These scams are becoming more common, preying on hype and FOMO. When you see an “official” memecoin announcement out of nowhere, pause—because more often than not, it’s another rug pull in the making.

Bitcoin Pushes Toward $100K as TRUMP Memecoin Surges 40%

Summary: Bitcoin continues to rise, trading in excess of $98,000 with hopes of reaching six figures soon. Meanwhile, the memecoins are making waves, with TRUMP rising 40% to trade in excess of $20. XRP is also making a robust recovery, rising 10% in the previous 24 hours.

Bitcoin is heading in an uptrend trend to a high of $98,600 following the increase by 4.36% from its weekly low of $94,500 on 12th of this month. The market players are attempting to shatter the $100,000 benchmark with consistent trend as the weekend looms ahead.

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Beyond Bitcoin, the memecoin space is hot. DOGE, WIF, and PNUT have all gained 6%, 13%, and 15% respectively. But the real winner here is Donald Trump’s very own TRUMP token, which has increased by over 40% and is now trading just under $21—its highest level since the initial round of mania.”.

XRP is also higher by 10% over the last 24 hours and 17% over the last seven days. MANTRA (OM) is also a top gainer with a 39% rise, followed by XDC with an 11% rise, and WIF with a 10% rise.

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According to CoinMarketCap, the total crypto market cap stands at $3.24 trillion at the moment and has experienced a daily trading volume of $106 billion. With Bitcoin growing stronger and memecoins being popular, the weekend could witness even higher volatility in the market.

Ethereum Foundation Moves 45,000 ETH to DeFi Instead of Selling

Summary: Breaking abruptly from its previous policy, the Ethereum Foundation (EF) has sent 45,000 ETH to the leading DeFi platforms. Rather than selling it outright, the action is meant to support the DeFi community without having any impact on Ethereum’s market stability.

The Ethereum Foundation has allocated 10,000 ETH to Spark, 10,000 ETH to Aave Prime, 20,800 ETH to Aave Core, and 4,200 ETH to Compound Finance. In total, this amounts to roughly $117.62 million based on today’s ETH price of $2,613.68.

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The decision comes following strong criticism from the community after the foundation sold 4,000 ETH straight out in January of this year. The majority grumbled that this sale would negatively impact the price of Ethereum and render the market unstable.

By putting money into DeFi early, EF is betting on decentralized finance and ongoing to gain a return without tampering with market volatility. This also helps the liquidity of protocols like Aave and Compound, which works to perpetuate the DeFi ecosystem.

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The move has been embraced by the Ethereum community because it is consistent with a model of sustainability of managing the treasury of the foundation. Instead of selling ETH in exchange for cash, EF is now effectively investing in the ecosystem that it founded, thus demonstrating its commitment to long-term Ethereum building and construction.

OpenSea Launching $SEA Token and Expanding into Crypto Trading

Summary: OpenSea, the largest marketplace for NFTs, is thinking big by launching its own token, $SEA, and expanding into crypto trading with the new OS2 platform. That is a substantial expansion from dealing only in NFTs to a full digital asset trading platform.

OpenSea did an airdrop and unveiling of its $SEA token and the introduction of OS2, a revolutionary platform that would make trading digital assets easier. OpenSea will henceforth no longer be concentrating only on NFTs but will also be venturing into other cryptos being traded.

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According to OpenSea’s CEO, Devin Finzer, OS2 has been tested by a group of early users to ensure speed, reliability, and ease of use. He believes that NFTs and tokens belong together in one place, and OS2 is designed to provide that experience.

The platform features several new features, including improved search and discovery, token swapping natively, cross-chain purchases, and real-time analytics. OpenSea users will be allowed to buy and sell NFTs and cryptocurrencies across different blockchains without bridging their assets manually.

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The OpenSea Foundation has made the announcement that the $SEA token will be a core component of the ecosystem, rewarding users and boosting engagement. While no release date has been specified, the token will reward regular users and make OpenSea one of the leading platforms in the crypto space.

XRP Eyes $8 Amid ETF Approval Hype – Will It Finally Break Out?

Summary: XRP is gaining momentum as excitement around a potential ETF approval gains momentum. Analysts are predicting that if the ETF is approved, XRP can reach $8. Traders are hopeful, but technical analysis indicates both potential for upside and danger of reversal.

XRP has been climbing the last few months on speculation mostly stemming from its SEC court fight closing in on resolution. And with XRP ETF negotiations gaining momentum now, the next great action is expected. Experts point out that approval for an ETF may send XRP to $8, but only time will tell.

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Despite a rocky February beginning, XRP has appreciated 2% in the last 24 hours, rebounding 8% from its lowest point of $2.26 on February 7. The RSI is at 41.95, which suggests possible room for an upside move. CoinsKid, one of the leading analysts, believes that XRP is on the verge of ending a wave correction phase, which will lead to a parabolic rise. They also warn that pullbacks can occur to levels of $0.82 or even $0.388.

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In the meantime, FOX Business journalist Eleanor Terrett pointed out that the SEC could approve Grayscale’s XRP ETF application by February 13. With approval, it could trigger a huge breakout. As hopes rose, everyone awaits the SEC’s next step.

World Liberty Financial Snaps Up $5M in ETH During Market Dip

According to blockchain analytics firm Spot On Chain, the Trump-backed DeFi project, World Liberty Financial (WLFI), just scooped up another 1,917 ETH—worth around $5 million—on February 11.

On-chain data reveals that this latest move pushes WLFI’s total portfolio to a whopping $96.72 million, with over $48 million in ETH alone. In spite of market being volatile, WLFI is still stacking ETH and showcasing a strong and long term confidence and belief in Ethereum’s future.

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Since the start of the year, WLFI has been aggressively accumulating ETH and other crypto assets, now holding a total of 18,549 ETH valued at $48.7 million. This strategy of consistently buying does give a hint of a potential bullish outlook on Ethereum, even of the price is fluctuating. WLFI also announced “Macro Strategy” today its new strategic token reserve aimed at strengthening its foothold in the crypto world.

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“This steady accumulation from WLFI is great for ETH in the long run. If other institutional investors jump in, we could see Ethereum cross $4,000 soon,” a top crypto analyst shared.

Ethereum is already a hot topic, thanks to increased gas limits, the upcoming Pectra upgrade, and growing debates around leadership changes in the Ethereum Foundation.

MetaMask Drops New “Gas Station” to Fix Failed Swaps

MetaMask just made life way easier with its new “Gas Station” feature—no more failed transactions just because you ran out of ETH. This upgrade lets users cover gas fees directly within their swaps, meaning no more scrambling to top up ETH just to complete a trade.

Right now, the feature is live for users who’ve enabled Smart Transactions on the Ethereum mainnet via the MetaMask Extension, with a mobile version dropping soon. Instead of manually buying ETH just to pay gas fees, the total cost now gets baked into the swap itself.

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Through that, MetaMask keeps competitiveness because the access is opened for the highest class of DEX aggregators and liquidity providers, giving the best rates and the lowest fees possible. Furthermore, the Gas Station supports multitable tokens for the gas payment: USDT, USDC, DAI, ETH, wETH, wBTC, wstETH, and wSOL-just in case the swap amount covers the fees.

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All MetaMask really did was make crypto transactions way smoother-no extra steps or stressing out about network fees; just swap and go.

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