Crypto, Forex & Blockchain News

Etherex, a decentralized exchange (DEX), has reached the $120 million total-value locked (TVL) mark after the launch of its REX token. The REX token release has contributed to a 435% boost to Etherex’s TVL, from $23 million to $123 million, owing to an incentivized xREX staking mechanism. The launch follows Linea’s series of announcements, including a 75% token allocation to ecosystem development and a 10% user airdrop. The article also discusses (3,3) tokenomics and its implications in the crypto industry.

U.S. banks and consumer advocates push back at provisions in new stablecoin law, GENIUS Act, citing potential threats to financial stability. Regulatory arbitrage and loopholes regarding payment of interest are among key objections. Efforts target revision of proposed crypto regulations before they become effective.

Snail Inc., a subsidiary of a leading Chinese online video game developer, aims to raise funds to explore digital assets, including launching its own USD-backed stablecoin. The funds will primarily support their digital asset initiative and serve as reserve assets for the anticipated stablecoins. The company identifies this move as a strategic step in positioning itself as an early adopter in the digital entertainment industry. Founded in 2000, Snail Inc.’s main focus lies in online multiplayer, real-time strategy, and casual games.

The Federal Reserve Board announces the end of a special supervision program established in 2023 for certain activities linked to crypto assets and distributed ledger technology. Instead, the Fed will monitor banking activities via the regular supervisory process, integrating knowledge of crypto and fintech activities. The article also discusses the changing landscape of US government regulations under the Trump administration.

Ethereum’s bullish confirmation targets a 34% gain, increasing its value to $6,100. The percentage of ETH supply held on exchanges has dropped for the first time since 2016 to 12%, indicating a supply squeeze and long-term accumulation. Ethereum hit a multi-year high at $4,792, indicating potential for growth as bullish projections cite institutional demand and decreased supply on exchanges as factors.

Former biotech company 180 Life Sciences rebrands to ETHZilla, focusing on Ether treasury strategy and reporting current holdings of $350 million in Ether. The shift mirrors similar moves by other companies, reflecting a growing trend in the integration of cryptocurrency in corporate finance.

Justin Sun, the founder of TRON, has filed a lawsuit against Bloomberg after his profile was published in the Bloomberg Billionaires Index. The lawsuit alleges misrepresentation of Sun’s assets and breach of promise to keep his wallet addresses secret. The profile estimates his net worth at $12.4 billion, attributing it mostly to TRX holdings. Sun claims that disclosing his wallet addresses could expose him to risks of hacking and kidnapping.

After the LIBRA scandal, smaller-cap AI agent tokens such as SwarmNodeai and Heurists are gaining solidly despite continued struggle among AI agent metas leaders like AI16Z and VIRTUAL. The boost in these low-cap agentic AI asset values is sparking positivity in the pumpfun ecosystem, promoting altcoin performance. Despite the surge, AI tokens remain significantly down from their peak values.

NEAR Protocol experienced significant volatility in a 24 hour period, with prices varying from $2.78 to $3.05. The decrease in value was driven by heavy institutional selling, despite strong asset fundamentals. The token showed recovery with strategic institutional buying, resulting in an accumulation phase rather than speculative retail activity.