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Cardano Hits 7-Month High as Founder Eyes Hopeful Role in Shaping Trump Crypto Policy
"I’m going to be spending quite a bit of time working with lawmakers in Washington, D.C.," Cardano founder Charles Hoskinson said Saturday.
On Sunday, Cardano (ADA), the native governance token of the proof-of-stake layer-1 network of the same name, lept to its highest points since April after its founder said he would play a role in shaping crypto policy in the U.S. next year.
On Sunday, Cardano (ADA), the native governance token of the proof-of-stake layer-1 network of the same name, lept to its highest point since April after its founder said he would play a role in shaping crypto policy in the U.S. next year.
ADA rose by as much as 33% on the day to $0.64 before paring back gains to stand at 0.58 by press time, CoinGecko data shows.
It follows Cardano founder Charles Hoskinson’s declaration he would aim to position himself as a prominent voice in President-elect Donald Trump’s ear when he takes power on January 20.
“A large part of my time in 2025 will also be devoted to the political process,” Hoskinson said Saturday in a video statement posted by Cardano-based wallet, NFT, and token tracking platform TapTools. Read More
Immutable announces in-game signing feature for Web3 gaming
The feature is limited to game-issued assets, but Immutable plans to expand it to IMX, USDC and ETH.
Blockchain protocol Immutable introduced a new feature to streamline players’ experiences in Web3 games by allowing transactions to occur in-game.
In a Nov. 11 announcement, Immutable said that Web3 gaming has faced disruptions, as players often have to approve transactions or interact with wallets outside of games. The new feature, Pre-Approved Transactions, lets developers integrate transaction approvals directly into a game’s interface.
In 2023, Immutable launched its Passport wallet infrastructure with Google and Apple log-in methods. The Web3 gaming project said that the feature lets users create and recover crypto wallets using Google or Apple accounts or with an email address.
With the newly announced feature, the company said it had eliminated the need for out-of-game signing and confirmation. The protocol said this could pave the way for advanced features like in-game item trading, crafting and marketplaces. Read More
Decentralized market making to play a key role in the future of DeFi
How DeFi can address the challenges posed by centralized market makers in the crypto market by promoting fairness and transparency.
Reform DAO presents an alternative approach by leveraging a decentralized framework that allows market-making services accessible for projects of all sizes. Reform DAO collaborates directly with projects to establish agreements that are intended to align with the long-term growth and sustainability of these ecosystems.
Established as a decentralized autonomous organization (DAO), Reform seeks to decentralize the power held by traditional, centralized market makers and provide a more transparent and community-driven market-making process.
What sets Reform apart is its innovative algorithm that injects liquidity into project tokens. Unlike traditional centralized market makers, who may liquidate their positions when contracts conclude, Reform reinvests tokens back into its DAO treasury. This strategy promises to maintain continuous liquidity over the long term, potentially providing a more stable and sustainable market-making environment.
Reform makes this possible with its money flow. The DAO’s money flow uses a unique financial structure involving a Bonding Treasury, which provides liquidity and harnesses a sustainable ecosystem.
The liquidity raised through the treasury fuels high-frequency trading and liquidity provision. Its advanced algorithms navigate multiple trading pairs, taking advantage of market volatility to potentially generate revenue and boost market efficiency. Read More
Detroit embraces crypto for municipal fees
Detroit residents will soon have the option to settle their taxes and other municipal fees using crypto, courtesy of a secure platform managed by PayPal.
This crypto payment option forms part of a broader strategy by city officials to harness cutting-edge technology to enhance public services, galvanise civic engagement, and promote economic growth.
Detroit Mayor Mike Duggan commented: “Detroit is building a technology-friendly environment that empowers residents and entrepreneurs.
“We are excited to be one of the first major US cities to explore blockchain’s civic applications and allow residents to use their cryptocurrency as a payment option.”
The capability to pay via crypto is expected to be operational by mid-2025, alongside further enhancements to the city’s payment services, according to Treasurer Nikhil Patel.
“The Treasurer’s Office is committed to modernising our payments channels and processes to enhance the customer experience and improve internal operational efficiency,” Patel elaborated.
“This new payment platform will increase accessibility for Detroiters who would like to use cryptocurrency; more importantly, the platform upgrade will also make it easier for Detroiters to make electronic payments—including those who may be unbanked.” Read More
The Top Five Cryptocurrency Exchanges by Trading Volume And Its Significance
The world's financial landscape is undergoing a profound transformation driven by innovative approaches to economic exchange. This shift is influenced by technological progress worldwide and impacts various aspects of society. The traditional boundaries of finance have been erased, as transactions are no longer limited by physical presence or geographical constraints. The nature of commerce has also undergone a significant shift, with the rise of digital assets and the increasing popularity of buying and selling liquid assets that exist solely in the digital realm.
Cryptocurrency is a popular digital asset that is increasingly used for transactions and debt settlement on a global scale. Given the rapid advancements in the crypto industry and the growing government interest, cryptocurrency is anticipated to replace traditional fiat currencies eventually. In addition to serving as a form of payment, crypto tokens can also be exchanged with one another.
The emergence of cryptocurrency trading has given rise to a specialized market that operates through online exchanges. These exchanges facilitate the buying and selling to engage in transactions within the cryptocurrency space. Without these platforms, it would be highly challenging for individuals to participate in the market, highlighting their crucial role in modern finance.
These exchanges, which play a vital role in the cryptocurrency market, can be centralized, decentralized, regulated, or deregulated. A key metric for evaluating their importance is the total trading volume of transactions executed on these platforms over a specific timeframe. Essentially, trading volume gauges the level of market activity, revealing the number of participants engaged in buying and selling and their willingness to take risks on price fluctuations. Read More
Tether launches open-source wallet development kit for humans and AI
The WDK will enable developers to integrate non-custodial wallets for USDT and Bitcoin into any app, website or device.
The world’s largest stablecoin issuer, Tether, launched an open-source wallet development kit (WDK) to enable businesses and developers to integrate non-custodial wallets into any website or app — and it’s even designed to work with AI agents.
On Nov. 11, Tether announced the launch of its WDK, which it described as a modular software development kit “designed to empower businesses and developers to seamlessly integrate non-custodial wallets and user experiences for USDT and Bitcoin in any app, website, and device.”
The WDK was designed to support both human users and “embrace new digital beings like AI agents, robots and autonomous systems,” the firm said.
Key features of the WDK include giving users full control over non-custodial assets, eliminating reliance on third-party custody solutions and a simplified setup process. Read More
ETH 3.0: Sharding may return to scale Ethereum to millions of TPS
Ethereum researcher Justin Drake teased a new proposal, fueling ETH 3.0 rumors and sparking community speculation on potential scalability solutions for the blockchain.
An Ethereum researcher’s social media post has ignited speculation about a possible solution for the layer-1 blockchain’s scalability challenges. Consensys CEO Joe Lubin said this may involve reviving the concept of sharding to address scalability.
On Nov. 11, Ethereum researcher Justin Drake posted on X that he would announce an “ambitious” initiative for Ethereum. Drake said he had contemplated a “from-scratch” redesign of the Ethereum consensus layer, which some interpreted as a step toward solving its scalability issues.
The researcher said his goal was to suggest a strategy to ship a Beacon Chain road map. He is expected to share the full proposal at Devcon in Bangkok, Thailand, on Nov. 12.
Bringing back sharding to Ethereum:
In an interview with Cointelegraph’s Andrew Fenton, Lubin suggested Drake’s ideas involve revisiting sharding execution. The CEO explained that this could entail developing a zero-knowledge Ethereum Virtual Machine (zkEVM) at layer 1, allowing for multiple identical execution shards.
Lubin explained that while sharding was set aside a few years ago because it “wasn’t really possible,” it might make a comeback in the upcoming proposal:
“The interesting thing about that, that way of using layer 1 wasn’t really possible a few years ago when we discarded the idea of execution sharding, what we needed to do was throw open this divergent exploration and a lot of stuff came back.” Read More
AggLayer adopts Agora’s AUSD as native stablecoin
AUSD is now integrated into AggLayer, co-developed by Polygon Labs, optimizing crosschain liquidity and eliminating token bridges.
Agora, a stablecoin company, has introduced its AUSD stablecoin as the native stablecoin for AggLayer, a crosschain settlement network, to enable multichain transactions via a stable, fiat-backed asset.
The partnership aims to eliminate the need for token bridges, simplifying and unifying liquidity for developers and end-users in the AggLayer community onchain.
Agora is a stablecoin startup co-founded by Nick van Eck, Drake Evans and Joe McGrady. Custodians, including State Street and VanEck, back its institutional-grade stablecoin AUSD.
The development is significant for users of the AggLayer — designed to enable different chains to connect and interact — as it pushes to make Web3 more accessible and efficient to boost mainstream adoption. Read More
Satoshi Action Fund's Dennis Porter Heralds the Arrival of Nation-State Hyperbitcoinization
Dennis Porter, the co-founder of the Satoshi Action Fund, has recently revealed that several nations have contacted him to help establish a national bitcoin reserve. He stated that hyperbitcoinization at a nation-state level is advancing “faster than expected.”
The expected pro-crypto character of President-Elect Trump’s upcoming administration is getting other countries to consider moving closer toward bitcoin. Dennis Porter, co-founder and CEO of the Satoshi Action Fund, an organization that helps lawmakers create and implement bitcoin policies, has recently stated that he has been contacted by several countries to draft regulations leading to the creation of strategic bitcoin reserves.
Porter noted that he had received calls from 5 different unnamed nations regarding the strategic bitcoin reserve subject. “Now the success we have had passing legislation in the U.S. can be exported across the world,” he stressed.
Porter, who had worked with state and national lawmakers in the U.S., and supported the introduction of the Blockchain Basics Act in several states, believes this is the moment that will bring hyperbitcoinization to a nation-state level.
On this, he stressed:
Nation states are moving rapidly. It’s all happening much faster than expected. The Strategic Bitcoin Reserve momentum is incredible. History is being made. What a time to be alive. Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
Featured Image Source: Pixabay
