Daniele Sesta, the mind behind TIME Wonderland, is launching a new AI Agent venture on Sonic and demand for presale access grew so intense, that tech-savvy investors hacked their way into the USDC contribution pool before it had officially opened. The initial coin offering (ICO) pool opened on Dec. 18, with a $21 million maximum market capitalization to be split between S token contributions, and USDC contributions. Sonic is a high-performance Layer 1 blockchain that launched on Dec 18. The chain is the successor to Fantom, and as of Wednesday, FTM holders were able to bridge their tokens to Sonic and convert them for S tokens. The chain, still in its infancy, mostly just consists of memecoins as the team prepares for DeFi and stablecoin integrations. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
YouTube competitor Rumble (RUM) is in a deal for a $775 million strategic investment from stablecoin giant Tether. Rumble will use $250 million of the money to support operations and the remainder to fund a tender offer for up to 70 million shares of its common stock at a price of $7.50, according to a Friday evening press release. That $7.50 is the same price per share Tether is paying for its stake. "I truly believe Tether is the perfect partner that can put a rocket pack on the back of Rumble as we prepare for our next phase of growth," said Rumble CEO Chris Pavlovski. "Legacy media has increasingly eroded trust, creating an opportunity for platforms like Rumble to offer a credible, uncensored alternative," said Tether CEO Paolo Ardoino. "Beyond our initial shareholder stake, Tether intends to drive towards a meaningful advertising, cloud, and crypto payment solutions relationship with Rumble." RUM shares have rocketed higher by 41% in after hours action to $10.13. It is not known if any of the proceeds will be used to put bitcoin (BTC) on the Rumble balance sheet. Pavlovski in November had teased an interest in his company possibly buying bitcoin.
USYC token has surged to a market value exceeding $1.2 billion. Integration of DeFi applications is pivotal for tokenized products' growth. Continue Reading: Hashnote’s USYC Token Achieves Prominent Position in the Bond Market The post Hashnote’s USYC Token Achieves Prominent Position in the Bond Market appeared first on COINTURK NEWS .
Metaplanet Inc. plans to issue ¥5.0 billion ($31.9 million) in ordinary bonds to accelerate its Bitcoin buys. The company announced this in a December 20 post on X, adding that the repayment will be made from exercising its 12th series stock acquisition rights. Details of the 5th Series Ordinary Bonds In a separate post , Metaplanet CEO Simon Gerovich said the money accrued from the offering will be used to push forward the buying of BTC initially planned for 2025 to before the end of 2024. “These funds will accelerate Bitcoin purchases originally planned for 2025 into the current year.” The bond issuance consists of ¥5 billion in total, divided into units of ¥250 million each. The offering will carry no interest and be redeemed at face value, with each bond worth 100 yen per 100 yen principal amount. The scheduled issuance date is December 20, 2024, with the maturity date set for June 16, 2025. The entire security will be allocated to EVO FUND, a private investment entity, and will be subject to redemption provisions. Further, the bonds can be redeemed early if EVO FUND gives written notice at least one business day in advance or if funds from the exercise of the Tokyo-listed firm’s 12th series stock acquisition rights reach a specified threshold. This development follows Metaplanet’s announcement on December 17, 2024, of a separate ¥4.5 billion ($28.7 million) bond issuance that will also mature on June 16, 2025. It means that in just a few days, the company has raised a total of ¥9.5 billion, or about $60.6 million. Bitcoin-Centred Approach Metaplanet’s Bitcoin-centred approach aligns with its strategic focus on adopting the asset as a hedge against economic instability. In June 2024, it acquired 23.351 BTC for approximately $1.6 million, followed by 42.4 BTC for $2.4 million, bringing its total holdings to 203.7 BTC. The company continued to increase its holdings, purchasing 57.273 BTC for $3.4 million and 106.976 BTC worth $6.6 million in October. Additionally, it made a significant purchase of 156.7 BTC in October, valued at $10.4 million. In addition to its buying strategy, the Japanese investment firm recently established a new Bitcoin treasury operations business line. This division will focus on purchasing, holding, and managing the cryptocurrency through various financial instruments, including loans, equity issuances, and convertible bonds. According to BitcoinTreasuries data, as of December 20, 2024, the outfit holds 1,142 BTC, valued at approximately $109.6 million. Its stock has also seen remarkable growth, with shares trading at ¥3,575, reflecting a 58.05% increase in the past month and a 2,134.38% rise year-to-date, based on data from Google Finance. The post Metaplanet Accelerates Bitcoin Acquisition With New $31M Bond Issuance appeared first on CryptoPotato .
Customers at JPMorgan Chase, Wells Fargo and Bank of America have collectively lost $870 million to scammers on Zelle in the last seven years, according to a powerful US bank regulator. The Consumer Financial Protection Bureau (CFPB) says it’s suing the three banking giants and Zelle’s parent firm for allegedly failing to protect people from widespread fraud on the popular payments network. The lawsuit, which has been anticipated for months, alleges hundreds of thousands of the banks’ customers filed fraud complaints and were largely denied assistance, with some being told to contact the fraudsters directly to get their money back. “Bank of America, JPMorgan Chase, and Wells Fargo also allegedly failed to properly investigate complaints or provide consumers with legally required reimbursement for fraud and errors. The CFPB is seeking to stop the alleged unlawful practices, secure redress and penalties, and obtain other relief.” The CFPB alleges widespread consumer losses and security failures on the part of the banks, stating the lenders limited identity verification measures, allowed repeat offenders to hop between banks, ignored red flag warnings from customers and abandoned customers after fraud occurred. CFPB Director Rohit Chopra says the banks, which co-own Zelle, rushed to launch the platform without properly addressing security concerns. “The nation’s largest banks felt threatened by competing payment apps, so they rushed to put out Zelle. By their failing to put in place proper safeguards, Zelle became a gold mine for fraudsters, while often leaving victims to fend for themselves.” Zelle says it’s fully prepared to defend itself in court. “The CFPB’s attacks on Zelle are legally and factually flawed, and the timing of this lawsuit appears to be driven by political factors unrelated to Zelle. Zelle leads the fight against scams and fraud and has industry-leading reimbursement policies that go above and beyond the law.” JPMorgan Chase has previously said it may sue the CFPB over the Zelle investigation, stating the agency is going “above and beyond what the law requires.” Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post JPMorgan Chase, Wells Fargo and Bank of America Customers Lose $870,000,000 To Scammers on Zelle, Forcing Victims To ‘Fend for Themselves’: CFPB Lawsuit appeared first on The Daily Hodl .
Ripple, a prominent blockchain payments company, has announced a $5 million donation in XRP to support the inauguration…
More on Rumble Rumble Inc. (RUM) Q3 2024 Earnings Call Transcript Rumble: Stay Away From This Stock At All Costs Rumble: Difficulties With Growth, Competition, And Profitability Rumble stock reacts positively after federal court upholds the upcoming U.S. ban on TikTok Rumble GAAP EPS of -$0.15 misses by $0.02, revenue of $25.06M misses by $4.19M
In the last four years, investors' risk appetite has hit a 'burn-out' point, with the rising dollar showing the way. A dip could be the perfect remedy.
By 2025, more than 1 million AI agents could populate Web3, with staking and trading as likely early use cases, industry execs told Cointelegraph.
The European Commission has unconditionally approved Nvidia’s $700 million bid for Israeli startup Run:ai, a deal that was under scrutiny over competition concerns. This comes after the case had been referred to the Commission by an Italian competition authority in September asking if the proposed acquisition would not result in competition concerns in the European Economic Area (EEA). EU gave thumps up to the Nvidia transaction After some rigorous screening, the EU said it approved the proposed acquisition of the Israeli startup saying it did so unconditionally, adding the transaction would raise no competition concerns in the EEA. According to a Reuters article , the EU’s probe into the deal focused on activities that could strengthen Nvidia’s control over GPUs, sought-after chips that could divide and process computer tasks. The EU, however, concluded that the deal would not raise any such concerns in the EEA. Nvidia designs and supplies GPUs for data center applications, while the Israeli startup – Run:ai is a supplier of GPU orchestration software that enables corporate clients to manage their compute infrastructure. “Since Nvidia is a leading producer of key hardware for AI applications used in the EU and beyond, it was important to carefully check whether its acquisition of start-up software company Run:ai may have negatively impacted competition in critical markets which are key for future competitiveness,” said Teresa Ribera, executive vice-president for clean, just and competitive transition at the European Commission, in a statement. “But our market investigation confirmed to us that other software options compatible with Nvidia’s hardware will remain available in the market.” Ribera. The statement also emphasized that the two companies’ areas of activity do not overlap, while the EU Commission on the other hand has the authority to oversee mergers and acquisitions of large multinational corporations operating in the EU countries. The EU has scrutinized other big techs apart from Nvidia Nvidia announced the acquisition of the Israeli startup in April in a deal worth $700 million, a price tag that was to be reviewed by the bloc following requests by Italian regulators under the EU Merger Regulation (EUMR). When announcing its plans, Nvidia said the deal would help customers make more efficient use of their computing resources. “Run:ai enables enterprise customers to manage and optimize their compute infrastructure, whether on-premises, in the cloud or in hybrid environments,” Nvidia said in an April 24 blog post. Run:ai co-founder and CEO Omri Geller revealed the startup has collaborated with Nvidia since 2020, adding that both companies “share a passion for helping our customers make the most of their infrastructure.” However, regarding the proposed acquisition, the EU Commission revealed in October that Nvidia would need to get approvals and antitrust clearance for the transaction due to the raised concerns that the deal would undermine competition within the sectors in which the two companies operate. Responding to the EU’s concerns then, Nvidia spokesperson John Rizzo said back then that the company was willing to provide any information to regulators regarding the deal. “After the acquisition closes, we’ll continue to make AI available in every cloud and enterprise, and help customers select any system and software solution that works best for them.” Nvidia. These developments also come as the big tech industry has for years enjoyed minimal oversight on the takeover of smaller rival firms prompting regulators to pay more attention to these to ensure fair competition. Firms like Amazon, Microsoft, and Google have also been scrutinized over their investments in AI startups or other tech firms as they expand their AI operations and stay ahead of peers. The EU has probed the partnership between Microsoft and OpenAI as well as others like Google and Samsung. A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.