Bitcoin ETFs logged their second-largest weekly outflow at $1.17 billion, while ether ETFs ended a 14-week inflow streak with a $238 million exit. Despite midweek rallies, heavy early outflows defined the trend. ETF Shake-up: Bitcoin Funds Post Second-Highest Weekly Loss While Ether Snaps Record Inflow Run The tide finally turned. After 14 straight weeks of
BitcoinWorld Memecoin Sniping Scandal: How One Figure Allegedly Bagged $12M from Kanye West’s YZY Token The crypto world is buzzing with a shocking new allegation: Hayden Davis, a figure already known in controversial token launches, allegedly raked in a staggering $12 million from memecoin sniping Kanye West’s YZY token. Blockchain analytics firm Bubblemaps brought these dramatic claims to light, detailing a sophisticated operation that exploited the token’s launch. This incident isn’t Davis’s first brush with controversy, sparking crucial questions about market ethics and investor protection in the fast-paced realm of memecoins. Understanding the Art of Memecoin Sniping What exactly is memecoin sniping ? Simply put, it’s a rapid-fire trading strategy where individuals or bots purchase newly launched tokens almost instantly. This often happens within seconds or minutes of public availability, with the expectation of a rapid price surge. Snipers then sell quickly for a substantial profit, leaving later investors to potentially face significant losses. Speed is Key: Success in sniping relies on acquiring tokens before the general public. Exploiting Hype: It capitalizes on the initial frenzy and FOMO (fear of missing out) surrounding new memecoin launches. Controversial Practice: While not always illegal, it raises ethical concerns about market manipulation and fairness. The Alleged $12 Million YZY Memecoin Haul Bubblemaps’ in-depth investigation into the YZY token’s launch unveiled a highly organized operation. They meticulously traced a group of 14 interconnected wallets directly back to Hayden Davis. This was achieved by utilizing complex funding trails, deposits to centralized exchanges (CEXs), and cross-chain transfers. The analysis showed these wallets began acquiring YZY tokens just one minute after the token’s official announcement. This incredibly swift action allowed them to secure an estimated $12 million profit through this strategic memecoin sniping . A Troubling Pattern: More Than Just YZY? For Davis, these allegations aren’t an isolated incident. He is notoriously known for his involvement with the controversial LIBRA token, which was linked to Argentine President Javier Milei. Davis, who serves as CEO of Kelsier Ventures, previously admitted to engaging in memecoin sniping with LIBRA. Moreover, reports by The Block connect him to the Melania Trump memecoin, which ultimately collapsed in value, causing significant losses for many investors. These repeated instances raise serious concerns about a pattern of behavior and potential market manipulation tactics. How Blockchain Analytics Exposes Memecoin Sniping Firms like Bubblemaps play a critical role in bringing transparency to the often-opaque cryptocurrency space. They leverage the inherent openness of blockchain technology, where every transaction is recorded and publicly verifiable. By carefully analyzing wallet activity, funding sources, and transaction timings, these experts can identify and expose intricate schemes like large-scale memecoin sniping . This crucial work helps to: Increase Accountability: It shines a light on questionable activities. Deter Bad Actors: The threat of exposure can discourage similar future actions. Inform Investors: It provides valuable insights into market dynamics and risks. Is Memecoin Sniping an Unavoidable Risk for Investors? The alleged $12 million profit from YZY memecoin sniping by Hayden Davis, as revealed by Bubblemaps, serves as a stark reminder of the wild west nature of some crypto markets. While memecoins can offer high rewards, they also come with significant risks, including potential manipulation and the quick profits of snipers. Investors should always conduct thorough due diligence and understand the volatile nature of these assets. The ongoing efforts of blockchain analytics firms are vital in shedding light on these activities. They promote greater transparency and potentially deter future bad actors, but vigilance remains paramount for individual investors. FAQs About Memecoin Sniping and the YZY Incident Q1: What is memecoin sniping? Memecoin sniping is a rapid trading strategy where individuals buy newly launched tokens almost instantly, often within minutes, to profit from immediate price surges before selling quickly. Q2: Who is Hayden Davis? Hayden Davis is the CEO of Kelsier Ventures, a figure previously linked to controversial token launches like LIBRA and the Melania Trump memecoin, and now allegedly involved in the YZY memecoin sniping incident. Q3: What is the YZY memecoin? YZY memecoin is a cryptocurrency token launched recently, reportedly associated with artist Kanye West, which became the subject of alleged large-scale sniping activity. Q4: How did Bubblemaps trace the funds? Bubblemaps used blockchain analytics to trace a group of 14 wallets back to Davis, analyzing funding trails, CEX deposits, and cross-chain transfers to uncover the connections and transaction timings. Q5: Is memecoin sniping illegal? While the ethics of memecoin sniping are highly debated, its legality often depends on the specific jurisdiction and whether the actions constitute market manipulation or other illicit activities under local laws. Did this article shed light on the complex world of memecoin sniping and its controversial figures? Share it with your network to spread awareness about the importance of blockchain analytics and market transparency in the crypto space! To learn more about the latest crypto market trends, explore our article on key developments shaping the memecoin market’s regulatory landscape. This post Memecoin Sniping Scandal: How One Figure Allegedly Bagged $12M from Kanye West’s YZY Token first appeared on BitcoinWorld and is written by Editorial Team
Bitcoin opened the week with a sell-off to $110,530, but BTC and altcoin charts suggest a quick recovery to the trading range averages could occur.
Cryptocurrency exchange Gemini has introduced a new XRP-themed limited-edition credit card in collaboration with Ripple (XRP). Announced as Gemini Credit Card – XRP Edition, the card offers its users the opportunity to instantly earn XRP on their spending, according to the statement. The new card offers XRP rewards at different rates based on spending categories: Fuel, EV charging, and public transportation: 4% XRP Meal: 3% XRP Grocery shopping: 2% XRP All other spending: 1% XRP Related News: Watch Out: These Are the Altcoins to Keep an Eye in theNew Week Users will also receive a $200 XRP welcome bonus after spending $3,000 in the first 90 days. The card has no annual fees, foreign transaction fees, or additional fees for crypto rewards. According to Gemini, the XRP Edition card comes with Mastercard World Elite and is available in limited quantities for users in the US. The metal card, reflecting the XRP community in terms of design, features the same functionality as Gemini's existing credit cards but offers a special aesthetic for XRP enthusiasts. *This is not investment advice. Continue Reading: The First Ripple (XRP) Themed Credit Card Has Been Launched – Here’s What You Need to Know
BitcoinWorld Revolutionary USD1 Points Program Launched by World Liberty Financial The cryptocurrency world is buzzing with a fresh announcement that promises to reshape how users engage with digital assets and loyalty rewards. World Liberty Financial, a venture associated with the Trump family, recently took to X (formerly Twitter) to reveal the launch of its innovative USD1 Points Program . This groundbreaking initiative aims to introduce a new layer of utility and engagement within the crypto ecosystem, starting with a significant partnership. What is the USD1 Points Program and Who is World Liberty Financial? At its core, the USD1 Points Program is designed as a loyalty and rewards system where points are pegged to the value of one US dollar. This means each point you earn or redeem holds a stable, predictable value, aiming to bring more clarity and trust to digital rewards. Unlike volatile cryptocurrencies, these points offer a consistent measure of value, making them ideal for various applications. World Liberty Financial, the entity behind this program, is a financial services company linked to the Trump family. Their entry into the crypto loyalty space with such a distinct offering signals a strategic move to blend traditional financial concepts with modern digital innovation. The announcement on X served as the official unveiling, immediately drawing attention from the crypto community. Gate.io Leads the Way: First to Implement the USD1 Points Program A crucial aspect of this launch is the partnership with crypto exchange platform Gate.io. This prominent exchange has been announced as the very first platform to implement the USD1 Points Program . This early adoption by Gate.io is significant, as it provides a robust testing ground and immediate utility for the program within a live trading environment. For Gate.io users, this means they will soon have access to a new rewards system that could enhance their trading experience. The integration highlights a growing trend where crypto platforms seek innovative ways to retain users and offer tangible benefits beyond just trading opportunities. This move could set a precedent for how other exchanges approach loyalty programs in the future. Unlocking Value: Benefits of the USD1 Points Program The introduction of a USD1-pegged points system offers several compelling advantages for users and the broader crypto market: Stability and Predictability: Users can trust that the value of their points will not fluctuate wildly like other digital assets, as each point is consistently tied to the US dollar. Enhanced Utility: These points could be redeemable for various services, such as reduced trading fees, access to exclusive features, participation in special events, or discounts on platform services. Simplified Rewards: The straightforward 1:1 USD peg makes it easier for users to understand the value of their rewards, removing the complexity often associated with crypto-based loyalty programs. Increased Engagement: By offering tangible and stable rewards, platforms can encourage greater user participation and loyalty, fostering a more active community. Consequently, this program aims to bridge the gap between traditional loyalty schemes and the dynamic world of cryptocurrency, making digital rewards more accessible and appealing to a wider audience. What Challenges Might the USD1 Points Program Face? While the potential benefits are clear, the USD1 Points Program may encounter certain challenges as it rolls out and seeks broader adoption: Wider Adoption: The success of the program will heavily depend on other exchanges and platforms joining Gate.io in implementing it. A limited ecosystem could hinder its overall impact. Regulatory Scrutiny: As a new type of digital asset or reward, the program might face scrutiny from financial regulators, requiring clear guidelines and compliance. Perceived Value: Ensuring users continuously see the value in earning and redeeming these points, especially in a market with many alternative reward systems, will be crucial. However, the backing by World Liberty Financial and the initial partnership with Gate.io provide a strong foundation for addressing these potential hurdles. The program’s design, emphasizing stability, is a key differentiator in the often-volatile crypto space. The Broader Impact on Crypto Loyalty The launch of the USD1 Points Program could signify a shift in how loyalty and rewards are structured within the cryptocurrency industry. By offering a stable, easily understandable reward unit, World Liberty Financial might inspire other projects and exchanges to rethink their own incentive structures. This innovation could lead to more user-friendly and reliable reward systems, ultimately benefiting the end-user. In conclusion, the World Liberty Financial’s USD1 Points Program , kicking off with Gate.io, represents an exciting development in the crypto landscape. It brings a novel approach to digital rewards, emphasizing stability and clear value. As the program unfolds, it will be fascinating to observe its impact on user engagement and its potential to set a new standard for loyalty within the rapidly evolving world of blockchain and digital finance. Frequently Asked Questions (FAQs) What is the USD1 Points Program? The USD1 Points Program is a new loyalty and rewards system launched by World Liberty Financial, where each point is pegged to the value of one US dollar, offering stable and predictable digital rewards. Which platform is first to implement the USD1 Points Program? Crypto exchange platform Gate.io has been announced as the first exchange to implement the USD1 Points Program, integrating it into their ecosystem for user rewards. What are the primary benefits for users participating in this program? Users can benefit from the stability of USD1-pegged points, which can be redeemed for various utilities like reduced trading fees, exclusive access, or discounts, enhancing their overall platform engagement. How do these points differ from stablecoins? While both are pegged to the USD, USD1 Points are primarily a loyalty/reward mechanism within a specific ecosystem, not a transferable digital currency designed for broad transactional use like stablecoins. Will other exchanges adopt the USD1 Points Program in the future? While Gate.io is the initial partner, the program’s success and adoption by the crypto community will likely influence whether other exchanges choose to implement the USD1 Points Program. If you found this article insightful, consider sharing it with your network on social media to spread the word about this exciting development in crypto loyalty programs! To learn more about the latest crypto market trends, explore our article on key developments shaping digital rewards institutional adoption. This post Revolutionary USD1 Points Program Launched by World Liberty Financial first appeared on BitcoinWorld and is written by Editorial Team
Cardano price is consolidating near $0.88 in a bullish flag; a confirmed breakout would target roughly $1.20, while Cardano DeFi TVL sits near $389M, signaling steady on-chain liquidity and continued
To say stablecoins are enjoying a ‘moment in the sun’ would be to overlook the widespread adoption and acceptance of crypto-dollars. Make no mistake, this is no fleeting trend: with most stables anchoring their value to the global reserve currency, they have gradually become go-to assets for crypto-native and institutional investors keen to preserve their wealth and lock in profits. Traditionally unassociated with yield, stablecoins have latterly been deployed in certain sophisticated protocols designed to generate interest for holders. And given the global stablecoin market is now worth $278 billion (up 22% this year alone), there is a veritable mountain of capital to put to work. In the United States, the arrival of the GENIUS Act – which requires issuers to back tokens with dollars or high-quality liquid assets – has served to strengthen investor trust. With this kind of momentum, is it any wonder people want to unlock serious earning potential on their stablecoin stacks? Here’s how you can start generating native yield right away. The Evolution of Stablecoins Long considered safe havens in the storm of crypto speculation, stablecoins like Tether (USDT) and USD Coin (USDC) aren’t actually designed to generate yield; their sole role is to maintain a consistent value, unlike digital currencies like BTC and ETH. Given the profits to be made in DeFi, though, parking your wealth in stables is a bit like sitting on the sidelines of a raucous party, sipping your non-alc beer and pre-emptively congratulating yourself on not getting a hangover. For TradFi investors, the stability offered by these assets is great. But for those who’ve already served multiple tours in DeFi’s often lucrative trenches, the lack of double-digit yield can be a dealbreaker. Why is why a number of protocols have emerged promising to put stables to work. It all started with leading CEXs, who started paying out a modest APY on stables via lending programs: the exchange would lend your crypto to borrowers and pay you a cut of the interest. Last year, Coinbase took things one step further by offering its wallet users 4.7% APY simply for holding USDC, with rewards paid out monthly. Single-digit APYs are better than interest from banks, but they’re still small potatoes compared to crypto yield generation. Hence, the wave of innovative DeFi protocols that have come online, promising to help you squeeze more out of your holdings. Unlocking Double-Digit APYs The promise of unlocking high stablecoin APY sounds almost too good to be true, but it shows where the hands have come on the clock and perfectly represents the in-between zone where crypto heads and TradFi players are now congregating. Yield-generation protocols like Falcon Finance, Ethena, Ondo Finance, and Elixir have turned stables from safe bets into safe bets with benefits. But where does the yield actually come from? It depends on the protocol, of course, but generally speaking, an assortment of sophisticated strategies (basis trading, ETH staking, arbitrage) are used to generate consistent returns. Indeed, yield-bearing stablecoins have already paid out over $800 million to date. To get in on the act and start earning yield from stablecoins, you’ll usually have to connect a wallet and pass KYC checks – but it’s a small price to pay (and one TradFi investors are already used to). The best part is, because your collateral is pegged to the dollar, you’re not at risk of crashing and burning, as you would be if you were chasing DeFi yield. With stables as the rock-solid foundation, you can pocket returns without falling victim to crypto’s notorious volatility. The Road Ahead The GENIUS Act has been a game-changer for stablecoins, and the likes of Coinbase are now predicting the market will reach $1.2 trillion by 2028. As stables strengthen, expect investors to increasingly explore ways of earning a little (or a lot) extra on top. Having cemented their status as Web3’s most reliable asset, the future of stables seems likely to be tied to the innovative earning strategies that make them lucrative as well as dependable. Here’s to the coming trillion-dollar market cap and the opportunities that await. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Kalshi hires John Wang as head of crypto, bringing a high-profile crypto influencer to the prediction market platform amid CFTC scrutiny and a $185M funding round; the move follows Kalshi’s
BNB Coin reserve strategy sparks significant anticipation in the cryptocurrency market. B Strategy, a new company, aims to raise $1 billion for BNB Coin reserves. Continue Reading: BNB Coin Sparks Excitement with Ambitious Reserve Strategy The post BNB Coin Sparks Excitement with Ambitious Reserve Strategy appeared first on COINTURK NEWS .