DeFi

TON Foundation Introduces Teleport BTC Bridge for DeFi on Open Network

Thursday. July 18 at 3:00 PM

1 min. read

The TON Foundation has revealed plans to launch a trustless bridge on the Open Network, enabling users to transfer Bitcoin into the TON ecosystem for DeFi activities. This bridged Bitcoin, known as Teleport BTC, will offer the same security as Bitcoin while providing opportunities for growth on TON. Each Teleport BTC will be backed 1:1 by native Bitcoin through transparent processes involving smart contracts and validators. This initiative aims to boost Bitcoin's functionality, making it a valuable tool for earning rewards on TON. Initially developed by Telegram for internal use, TON has gained momentum in 2024, especially with the integration of its ad reward system. While TON is recognized for social gaming projects like Notcoin and Hamster Kombat, its DeFi sector has seen significant growth, with a total value locked of $745.96 million as of the latest data. The Teleport BTC bridge is set to launch later this year.

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Legal Dispute Over Token Airdrops Supported by Crypto Lobbying Groups

Wednesday. October 30 at 7:30 PM

A legal battle over token airdrops has gained backing from major crypto lobbying organizations like the Blockchain Association and the Crypto Council for Innovation. These groups, based in Washington, D.C., have filed an 'amicus brief' in support of Beba, an apparel brand, in its lawsuit against the US Securities and Exchange Commission (SEC). The case, filed in March, aims to seek clarity from the SEC on how token airdrops comply with US securities laws. Beba and the DeFi Education Fund argue that airdrops do not fit the 'Howey Test,' a legal standard for investment contracts, as tokens are usually given for free without profit expectations. The Blockchain Association and Crypto Council lawyers argue that SEC regulation of airdrops exceeds the agency's authority. The SEC's move to dismiss the lawsuit has sparked concerns about regulatory uncertainty in the US crypto industry.

DeFi

Partnership between Hex Trust and Stacks Asia Foundation to Enhance Bitcoin Ecosystem

Wednesday. October 30 at 7:00 AM

Hex Trust, a fully licensed digital asset services provider, has teamed up with the Stacks Asia Foundation to leverage the $180 billion market potential within the Bitcoin ecosystem. This collaboration will enable the custody platform to support the Stacks layer and associated digital assets, as well as introduce future on-ramps for decentralized finance (DeFi) applications. The partnership reflects a growing institutional interest and a maturing industry in Bitcoin-based DeFi, as stated by Kyle Ellicott, investor relations lead at Stacks. The entrance of Hex Trust signifies the rising consumer demand in Asia for Bitcoin ecosystem products. Additionally, the partnership is expected to enhance the financial utility of Bitcoin for institutional clients. Various projects, such as Hermetica, are also contributing to expanding the utility of Bitcoin, with the launch of innovative products like the Bitcoin-backed synthetic dollar, USDh, offering attractive yields for investors.

DeFi

Revolutionizing Crypto Investments with WallitIQ (WLTQ)

Tuesday. October 29 at 3:00 AM

The WallitIQ (WLTQ) crypto presale has garnered significant attention in the cryptocurrency world due to a renowned trader's prediction of a 40,000% surge in its value. This AI-powered decentralized wallet has attracted investors from various sectors with its current price of $0.0171, presenting an opportune moment to participate in the presale. WallitIQ (WLTQ) stands out in the crypto space for its intelligence, security features, and user-friendly interface. Utilizing AI for real-time wallet monitoring and a Solidproof-audited smart contract, it ensures asset security and investor confidence. Beyond being a wallet, WallitIQ (WLTQ) offers innovative features like personalized interfaces, portfolio rebalancing, and predictive analytics, empowering users to make informed investment decisions. With AI-driven market adaptation and predictive analytics, WallitIQ (WLTQ) redefines the capabilities of a crypto wallet, making it a promising investment option. Join the WallitIQ (WLTQ) presale to leverage its advanced features and potential gains, setting it apart from speculative trends like the Shiba Inu price rise of 2021.

DeFi

Allegations Against Ethena Labs in Recent Crypto-Farming Event

Tuesday. October 29 at 12:30 AM

Ethena Labs, an Ethereum-based synthetic dollar protocol, faced accusations of using 180 million Ethena tokens in a recent crypto-farming event. The allegations, made by crypto investigator Nomad on Oct. 27, claimed that the Ethena team held 25% of the total staked ENA in the Season 3 farming event. This raised concerns about diluting rewards for legitimate participants. Despite the accusations, Ethena denied any wrongdoing. Nomad also highlighted anomalies in previous farming events hosted by Ethena that led to financial losses for users. The allegations sparked interest in the crypto community, prompting calls for a response from Ethena. The protocol clarified that the staked ENA tokens were unlocked foundation tokens eligible for participation. Additionally, a partnership with Wintermute allowed Ethena's USDe to be used as margin collateral for crypto OTC trading.

DeFi