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Stablecoins Hit Record Market Cap of Nearly $170 Billion After Year of Growth

Stablecoins have reached an all-time high market cap of $169.57 billion following nearly a year of uninterrupted growth. Leading assets such as Tether’s USDT and Circle’s USDC have seen a significant resurgence this year, in addition to a newcomer. Stablecoin Market Cap Surge Data compiled by DefiLlama revealed that this is the highest market cap for stablecoins, surpassing the previous peak of $167 billion established in March 2022, which later declined to $135 billion by...

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Ethereum Price Analysis: ETH Bulls Eye $2.8K but Worrying Signs Appear

Ethereum’s price has been consolidating after a significant crash a few weeks ago, making market participants hopeful that the price is creating a bottom. Technical Analysis By: Edris Derakhshi The Daily Chart On the daily chart, the price has gradually made higher highs and lows since rebounding from the $2,100 support level. Yet, the market is yet to break past the $2,700 resistance, while a rejection could lead to another drop to $2,100. On the other hand, if the market...

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FTX Reorganization Plans Challenged by US Trustee and Creditors

Andrew Vara, a US trustee, has pointed out flaws in the FTX reorganization plan. A group of creditors also asked for the FTX estate to change the mode of repayment to cryptocurrency. A US trustee has challenged the current FTX reorganization plan. Alongside the trustee, Andrew Vara, a group of creditors have also asked for better reorganization to meet its needs. While about 95% of FTX creditors voted for the path the FTX estate has taken, these objections may warrant it to look into its...

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Google Gemini Names Next Crypto to Get an ETF

Alphabet Inc’s Google department is making great strides with its AI chatbot, Gemini. Among Large Language Model AIs (LLMs), it competes with the likes of ChatGPT, Meta AI, and X’s Grok. As such, CryptoPotato decided to inquire about what cryptocurrency could be the next to have an exchange-traded fund in the States to track its performance. Alphabet’s Gemini Gets to Work While Nvidia AI chips are most popular for loading and calibrating AI chatbots, the Mountain View,...

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Warden Announces the Artificial Intelligence Blockchain Interface (AIBI)

[PRESS RELEASE – Tortola, British Virgin Islands, August 26th, 2024] Warden, the sovereign AI execution network, announced the alpha release of its new artificial intelligence product – the Artificial Intelligence Blockchain Interface (AIBI). AIBI brings AI on-chain with an intuitive interface for developers to integrate AI into their applications. Inspired by proof-of-computation and computational pipelines, AIBI allows inference endpoints to create cryptographic proofs that...

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Thailand Raids Illegal Bitcoin Mine After Power Outages

Thailand’s authorities recently raided an illegal Bitcoin mine following several weeks of power outages in a local town. The raid took place on Sunday in Ratchaburi. It is a province located west of Bangkok. They took action after numerous reports of electrical disruptions in the area. Reports by AFP reveal that the early morning raid was conducted by the Provincial Electricity Authorities together with the local police. A chief district security officer named Jamnong Chanwong mentioned that...

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