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Top Cryptocurrency News of the Day - 22/10/2024

Writer's picture: AnthonyAnthony


Are you curious about the latest in the crypto world? Here’s a rundown of today’s key trends and events affecting Bitcoin prices, blockchain technology, DeFi, NFTs, Web3, and crypto regulations.


Tether is ‘doubling down’ on communication and transparency, CEO Paolo Ardoino says


Tether's CEO, Paolo Ardoino, has emphasized the safety of the world's largest stablecoin and highlighted the company's efforts to enhance communication and transparency. Speaking at the 8th Annual Washington DC Fintech Week, Ardoino underscored the importance of compliance, stating, "Compliance is essential. Since I became CEO in December, I've focused on reinforcing this mission—though, to be clear, Tether has always prioritized compliance. I understand that, particularly in the U.S., this hasn’t always been evident."



During a virtual conversation with Dr. Christopher Brummer, DC Fintech Week's founder and a Georgetown Law professor, Ardoino reiterated Tether's commitment to improving transparency. "We believe that communication and transparency are crucial, and we are doubling our efforts in these areas," he said.


Tether has faced regulatory scrutiny, particularly regarding its stablecoin, USDT, which is tied to the value of the U.S. dollar. The U.S. Commodity Futures Trading Commission (CFTC) previously found that Tether made "untrue or misleading statements" about USDT's backing, falsely claiming U.S. dollars fully backed it. In addition, U.S. lawmakers have urged the Department of Justice to investigate Tether for its potential involvement in illicit financial activities. Tether has stated that it is cooperating with global law enforcement to prevent illegal activities.


HashKey Capital Is Bullish on Altcoins Amid Bitcoin’s Prevailing Boom


HashKey Capital remains optimistic about the future of altcoins, drawing insights from the ongoing Bitcoin surge. Their positive outlook is based on a combination of market analysis, strategic investments, and economic indicators that suggest strong potential for smaller-cap tokens.


Meanwhile, Bitcoin continues to perform strongly, with the $70,000 milestone approaching. Should the current positive market sentiment drive capital toward altcoins, Ethereum and Solana are anticipated to be the primary beneficiaries.


In a recent Medium post, HashKey Capital outlined its bullish stance on altcoins, citing changing market conditions and shifting investor sentiment. The firm noted a significant shift in investor behavior, pointing to a growing demand for diversified portfolios that extend beyond Bitcoin and Ethereum.


The post further highlights that increasing institutional interest in cryptocurrencies is a key factor driving altcoin growth. As more major financial players and asset managers engage with digital assets, the narrative surrounding cryptocurrencies continues to evolve.


Additionally, institutions are exploring investment opportunities beyond Bitcoin and Ethereum, with altcoins becoming increasingly attractive. For example, Bitwise recently updated its XRP ETF (exchange-traded fund) filing, and firms like Grayscale are shifting their trust funds toward altcoins such as Aave, Sui, and XRP.


Anthropic beta lets Claude AI operate users' computer mouse, keyboard


Artificial intelligence company Anthropic has announced the release of an updated version of its Claude AI model, along with a developer’s beta for "computer use," on October 22.



This new beta feature allows developers to use the API to enable Claude to control a user’s computer autonomously. The AI can manage tasks such as moving the mouse cursor, clicking buttons and fields, and inserting text into the computer environment without human intervention.


A demonstration video of Claude’s computer use capabilities showcases its ability to navigate multiple windows, open new tabs for information searches, and transfer data between windows.


AI-powered large language models like Anthropic’s Claude and OpenAI’s ChatGPT primarily interact with users through a dedicated interface. While some models can perform limited web searches, their ability to interact with external systems is generally confined to parsing uploaded documents.


With the introduction of the computer use beta, Anthropic aims to expand the capabilities of its AI, allowing developers to automate any task that a human could perform at a workstation.


Solana-Based Pump.fun Sells 40,000 SOL Worth $6.68M in Latest Transaction: Data


In recent weeks, Pump.fun, a popular Solana-based platform for launching meme coins, has been selling large quantities of SOL tokens.



According to findings from Lookonchain, Pump.fun’s fee account sold an additional 40,000 SOL, worth approximately $6.68 million, on October 2. This sale has sparked speculation about its potential impact on the broader market. Following the sale, the price of SOL briefly dropped to $163 before recovering to $166.


Lookonchain also reported that Pump.fun has generated a total revenue of 969,945 SOL, valued at around $162 million. Of this, 503,343 SOL, worth $78.7 million, has been sold at an average price of $156.4, making Pump.fun one of the most profitable platforms this year. By capitalizing on the meme coin trend and utilizing Solana’s ecosystem, Pump.fun has driven significant revenue through its fee structure.


Since its launch in January, Pump.fun has generated over 2.5 million Solana tokens, accumulating $140 million in fees. During a recent Twitter Spaces event, the team announced the release of a trading bot and hinted at the launch of a token, with the possibility of an airdrop following their most successful week. They also introduced Pump Advanced, a new trading terminal set to compete with popular tools like Photon and Bull X.


Stripe to Acquire Stablecoin Startup for Over $1Billion


Stripe is set to acquire Bridge, a stablecoin infrastructure provider, to strengthen its presence in the fintech and cryptocurrency sectors. According to Forbes, the acquisition is valued at approximately $1.1 billion. Sources close to the deal indicate that Stripe aims to improve international money transfers and enhance its global payment solutions for businesses.



Founded in 2010 by John and Patrick Collison, Stripe has become a major player in payment processing, with a valuation of $65 billion as of earlier this year.


Stripe has reportedly confirmed its acquisition of Bridge, which enables businesses to conduct transactions using stablecoins—cryptocurrencies tied to traditional currencies like the U.S. dollar.


Bridge has experienced significant growth, with CEO Zach Abrams highlighting a tenfold increase in business this year. The company serves prominent clients, including Coinbase and SpaceX.


Bridge is expected to function as a Web3 version of Stripe, providing seamless payment solutions for digital transactions worldwide. This acquisition aligns with the growing acceptance of digital currencies, spurred by recent U.S. Securities and Exchange Commission (SEC) decisions that have relaxed regulations surrounding cryptocurrencies.


This regulatory shift has encouraged major companies like PayPal to adopt digital currencies. PayPal, for instance, launched its own U.S. dollar stablecoin last year.

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