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APhone introduces DApp store combining Web2 and Web3 apps
The alternative DApp store wants to offer features for Web3 enthusiasts while focusing on due diligence when listing apps.
The relationship between app distribution platforms and developers has been a topic of conflict for several reasons, including excessive sales fees and competition restrictions that limit developers’ use of alternative distribution channels.
These challenges have led many startups to focus on solutions to address programmers’ demands, particularly in the Web3 space, where the lack of regulatory clarity could exacerbate the issue.
“Centralized app stores like Google Play and iOS AppStore are seeing fraudulent crypto applications. This means the centralized stores are not safe anymore as they solely focus on making money from listing,” explained William Peckham, the chief business officer of APhone — a decentralized cloud-based smartphone.
APhone, developed by Aethir, is launching a decentralized app store that combines traditional applications with blockchain-based solutions. According to the firm, crypto apps such as those from Binance, OKX, Phantom, MetaMask, Bitget Wallet, Uniswap and more will be listed on its AppNest, which also features popular Web2 apps like Whatsapp, Instagram and ChatGPT. Read More
Are Solana and Polygon Safe Now That SEC’s Ethereum Investigation Is Over?
The short answer is: probably not—but it’s complicated.
If the SEC is no longer investigating Ethereum, does that mean other similar cryptocurrencies are off the hook?
The U.S. Securities and Exchange Commission on Tuesday informed Ethereum software company Consensys that it has dropped its investigation into “Ethereum 2.0,” referring to the blockchain network’s transition to proof of stake nearly two years ago.
This combined with the SEC’s approval of Ethereum ETFs for trading in the U.S. has been widely perceived as an admission by the Commission that Ethereum is not a security, which in turn could mean that other proof-of-stake coins like Solana and Polygon are also not securities. But legal experts who spoke with Decrypt have warned against thinking in such black and white terms.
“I expect that the letter has little to no impact on the legal classification of other [proof-of-stake] coins,” Drew Hinkes, an attorney who specializes in digital assets, told Decrypt. “Those other tokens were presumably not investigated in the investigation of Ethereum 2.0 and their facts as to creation, distribution, etc. are likely different from those of Ethereum.” Read More
Stablecoins to make up 10% of money in the next decade or so: Circle CEO
Circle CEO Jeremy Allaire revealed four of the biggest reasons he’s “more optimistic” about crypto and stablecoins than ever before.
Stablecoins could account for 10% of “global economic money” over the next ten years or more, according to stablecoin issuer Circle CEO Jeremy Allaire.
It’s arguably a bold claim, but Allaire pointed to several factors that could trigger an exponential expansion in stablecoin adoption over the next “10+ years.”
“Most of the world’s largest payments companies are actively using this technology and exploring how to expand their usage as the benefits of public chains and stablecoins become apparent to everyone,” Allaire explained in a June 19 X post.
The addressable market size is in the “billions,” and unleashing digital dollars on blockchains can fulfill the promise of banking the unbanked, lowering remittance costs and allowing seamless cross-border commerce, said Allaire. Read More
Bitcoin Treasury Firm DeFi Technologies Claps Back at Report That Tanked Its Stock
The company’s hot stock saw a 35% correction after a crypto newsletter claimed its gains were unjustified.
One of the most high-flying crypto stocks came crashing back to Earth this week after a report argued that it wasn’t rising “for the right reasons.” Today, the company issued a strenuous defense of its business.
In its Tuesday issue, crypto newsletter CoinSnacks outlined an extensive marketing campaign undertaken over the past few months to provide positive coverage for DeFi Technologies (DEFI)—a Toronto-based crypto fund provider that publicly trades on Canada’s Chicago Board Options Exchange (CBOE).
The price of DEFI stock has risen sharply along with other companies that have adopted Bitcoin as their primary treasury reserve asset, following the massive success of MicroStrategy (MSTR), now the top institutional holder of BTC. Amid the excitement, some analysts began waxing bullish on DEFI for fundamental reasons, claiming that it's supremely undervalued. Read More
Markethive Gearing Up To Launch Its ICO With A Difference
And It's Not an IEO, Not a STO, Not an IDO
Continuing from our previous article, the allure of Initial Coin Offerings (ICOs) has diminished in recent years. An ICO is a process in which a cryptocurrency startup endeavors to generate interest in its digital currency project by promoting it on its website. This was a new phenomenon in crypto and financial markets in general, allowing individuals to purchase the newly created crypto token directly from the company behind the project.
No restrictions or regulations were involved, and speculation rather than substantial foundations drove the majority of ICOs. Much of the hype surrounding ICOs attracted casual investors who hoped to achieve significant financial gains, despite these projects often being based solely on concepts.
Numerous ICOs faced issues with regulatory entities as their tokens were classified as securities rather than utility tokens, resulting in multiple cryptocurrency companies being required to pay fines and reimburse investors. In the United States, the Securities and Exchange Commission (SEC) has struggled to establish a legal definition for tokens in cryptocurrency since the emergence of Bitcoin.
While ICOs were initially created to generate funds in a space without regulations, many deceitful ICOs were launched to exploit unsuspecting investors. By the end of 2017, China enforced a ban on ICOs, causing the cryptocurrency industry to search for alternative methods to finance emerging enterprises. This article will explore the various alternatives for ICOs and delve into the plans for Markethive's utility token, Hivecoin, in the coming year. Read More
Dydx Chain Launches New Software Version, Adds Slinky Oracle for Real-Time Price Updates
According to the announcement on Tuesday, the new isolated markets feature on the Dydx Chain allows for the segregation of collateral pools and dedicated insurance funds, a shift from the previous system where collateral requirements were interconnected across various positions.
This isolation Dydx detailed means that fluctuations in one market will no longer directly impact the collateral requirements of others, potentially fostering the creation of hundreds of new tradable markets on the platform. The software upgrade also integrates Slinky, a high-performance oracle, which guarantees swift per-block price updates directly from decentralized exchanges, a first for the Dydx ecosystem.
With the new expansion, the team told Bitcoin.com News that the Dydx platform now supports more than 800 potential markets, including niche assets like popular Solana meme coins. This broadened access is facilitated by the decentralized exchange’s (dex) community governance structure, which allows members to list new assets within days following a successful vote. Read More
Binance Labs Announces Investment in New Cross-Chain DEX and Bridging Aggregator
Binance’s venture capital arm is announcing an investment into a new cross-chain decentralized exchange (DEX) and bridging aggregator.
In a new blog post, the world’s largest crypto exchange by volume says that it is investing an unspecified amount of money into interoperability DEX Rango.
Rango is a cross-chain exchange that aggregates sources and connects traders to the best rates across multiple blockchains, including Bitcoin (BTC), Solana (SOL), Tron (TRX) and Cosmos (ATOM).
According to Binance, Rango currently supports over 60 digital assets, 70 DEX protocols, and 20 bridges, bringing its total volume to over $3 billion. As of June 19th, Rango has processed over 2.5 million crypto-related swaps and is handling over 3,000 trades daily. Read More
Friend.Tech to build own blockchain, ending dependence on Base
With the introduction of its proprietary blockchain, Friendchain, and the native FRIEND token, the socialFi app Friend.Tech is stepping away from its existing framework within the Ethereum ecosystem and the layer-2 solution Base.
The announcement of this proprietary cryptographic network has sparked considerable controversy and concern within Friend.Tech’s community. Users are demanding explanations for the team’s decision to abandon Ethereum’s infrastructure in favour of their own blockchain.
According to the announcement posted on Friend.Tech’s official X profile on June 8th, the team will be collaborating with infrastructure provider Conduit to build this new layer-1 blockchain called Friendchain. The FRIEND token, which was airdropped to the community in early May, will serve as the transferable gas token powering this network.
Although a concrete timeline has not been provided, the transition from Base to Friendchain is expected to occur within the first half of 2025. This uncertainty has sparked fears and doubts among Friend.Tech’s userbase, particularly regarding the tokenisation and trading of X profiles. Read More
Gold meets digital dollars: Tether launches aUSD₮ – a stablecoin with gold backing
Tether, the company responsible for issuing USDT, the top stablecoin by market cap, continues to expand beyond fait-backed stablecoins with the launch of Alloy by Tether, a new asset-backed token that uses Tether Gold (XAU₮) as collateral.
“Developed by Moon Gold NA, S.A. de C.V. and Moon Gold El Salvador, S.A. de C.V., both of whom are members of the Tether Group, Alloy by Tether aims to redefine stability in the digital economy by combining the strengths of a stable unit of account with the security and reliability of gold,” the company said in a press release.
“We are thrilled to announce the launch of Alloy by Tether, introducing a class of digital assets backed by gold and tethered to a reference fiat currency,” said Paolo Ardoino, CEO of Tether. “While the stabilization mechanism is different compared to traditional options like USD₮, this innovative solution marks an exciting milestone, and we eagerly anticipate how it will interact with the rest of the market. Moreover, we plan to make this innovative technology available in our upcoming digital asset tokenization platform as well.” Read More
Solana ETF in the works: 3iQ files for new ETP in Canada
The Solana product, QSOL, seeks to provide shareholders with staking yield accrued from the Solana network.
Digital asset manager 3iQ has filed for a Solana exchange-traded product listing on Canada’s Toronto Stock Exchange (TSE) — a North American first if approved, the firm claims.
“We have submitted a preliminary prospectus for The Solana Fund (QSOL) in Canada in relation to an initial public offering,” 3iQ posted to X on June 20.
If approved, it would be the first Solana ETP listed in North America, the firm noted.
QSOL was filed on a preliminary prospectus with securities regulatory authorities in all Canadian provinces and territories except Quebec, 3iQ noted.
QSOL would offer “exposure to the digital currency SOL” and the “daily price movements of the U.S. dollar price SOL.” 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.
