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Deribit Integrating Ethena’s USDe as Margin Collateral in Early 2025

In a major development for cryptocurrency derivatives trading, Deribit, a leading crypto derivatives exchange, is integrating Ethena’s synthetic stablecoin, USDe, into its cross-collateral pool, starting January 2025, pending regulatory approval.

Ethena’s USDe, a synthetic dollar pegged to the US dollar, stands out with its decentralized backing via delta-hedging derivatives in perpetual and futures markets. Unlike traditional stablecoins backed by physical reserves, USDe emphasizes decentralization while ensuring stability.

“This initiative will pave the way for completely new structured product use cases,” said Guy Young, founder of Ethena Labs, highlighting the potential impact of the integration. He noted that Deribit’s dominance in the cryptocurrency options market, with an 85% share, positions it as a crucial platform for USDe adoption.

As part of the integration, USDe will be usable as margin collateral on Deribit, enabling traders to earn rewards and explore innovative trading opportunities.

The move also marks another milestone for Ethena Labs, whose synthetic stablecoin is gaining traction across other exchanges, including Bitget and Gate.

The announcement has fueled optimism in Ethena’s ecosystem. Its governance token, ENA, saw a 13% price surge, reaching $0.63 intraday before stabilizing at $0.5896. ENA has gained approximately 62% over the past month, signaling growing investor confidence in Ethena’s financial products.

Founded in 2023, Ethena Labs is expanding its portfolio, including a collaboration with BlackRock and Securitize to develop a new stablecoin, UStb (USTB).

Deribit’s partnership with Ethena underscores its commitment to bridging traditional and decentralized finance, positioning USDe to redefine margin trading and attract participants from both sectors.

Source: Deribit Exchange announces integration of Ethena’s USDe as margin collateral

Amazon Doubling Down on Anthropic with $4 Billion Investment

Amazon has increased its investment in Anthropic, a San Francisco-based AI startup, by committing an additional $4 billion, doubling its total funding to $8 billion.

Anthropic, known for its Claude chatbot and advanced AI models, has seen a deepening collaboration with Amazon. The partnership, which began last September with an initial $4 billion investment, also established AWS as Anthropic’s primary cloud provider.

“We’re excited to build on our strategic partnership with Amazon and AWS,” Anthropic stated. “This expanded investment will help us scale and innovate faster.”

The move reflects Amazon’s commitment to advancing AI technology and maintaining competitiveness in the rapidly evolving sector. The investment strengthens Amazon’s foothold in the AI landscape, as the tech giant leverages Anthropic’s expertise in developing cutting-edge AI solutions.

While Amazon holds a minority stake, the collaboration underscores its strategy to integrate innovative AI capabilities across its ecosystem. Anthropic’s focus on creating safer and more reliable AI systems aligns with Amazon’s vision for deploying AI at scale responsibly.

This partnership also highlights AWS’s role as a key player in providing the infrastructure for AI development. By ensuring Anthropic’s advanced AI models are supported on AWS, Amazon positions itself to capitalize on the growing demand for cloud-based AI solutions.

With this expanded investment, Amazon continues to cement its position in the AI market, fostering innovation while promoting ethical AI development. The doubling of funding signals Amazon’s confidence in Anthropic’s potential to shape the future of AI technology.

Source: Amazon doubles down on Anthropic with $4 billion investment

Child Launching Memecoin via Pump.fun Sparks Frenzy, Misses Out on Millions

A young creator who launched a Solana-based memecoin on Pump.fun faced a rollercoaster of emotions after selling their tokens early for a modest profit, only to see its value skyrocket into the millions.

The child sold their entire holdings during a livestream, securing a five-figure payout, according to data from Pump.fun and Solana blockchain explorer Solscan. The move seemed prudent at the time, but the crypto community quickly rallied around the coin, elevating its market cap to over $100 million at one point.

“It’s a classic case of ‘you never know what you’ve got until it’s gone,’” commented one observer on social media.

In the wake of the token’s success, the crypto community “CTO’d” the original coin—crypto slang for taking technical ownership—and began doxxing individuals purported to be connected to the creator’s family. Several new memecoins associated with the child’s identity were subsequently launched via Pump.fun.

Had the child held onto their initial stash, the tokens would now be worth over $2.5 million. Yet, analysts suggest such a meteoric rise may not have occurred without the viral buzz surrounding the creator’s story.

Meanwhile, another memecoin, Just a Chill Guy (ticker: CHILLGUY), has emerged as a star in the memecoin mania. The token hit a peak market cap of $300 million before dropping to around $215 million, demonstrating the speculative volatility that defines this niche.

The resurgence of memecoins coincides with Donald Trump’s pro-crypto election victory and listings of major tokens like Dogwifhat and Pepe. However, according to IntoTheBlock, retail interest remains subdued compared to previous market peaks, signaling that memecoins are yet to reclaim their full speculative glory.

Source: Kid launches memecoin via Pump.fun and sells early, missing out on theoretical millions

Russia Imposing Long-Term Crypto Mining Ban Amid Grid Concerns

Russia has announced significant restrictions on cryptocurrency mining across several regions, aiming to address rising electricity demands and a strained power grid. The ban, set to last until 2031, impacts six Caucasus regions and parts of Ukraine under Russian control.

Starting December 1, three southeastern Siberian regions near Lake Baikal, home to some of the largest crypto mining operations, will enforce a six-year seasonal mining ban during winter’s peak electricity demand. These regions have been attractive to miners due to low electricity costs and well-established infrastructure. The Energy Ministry estimates that crypto mining accounts for 16 billion kilowatt-hours annually, about 1.5% of the nation’s electricity usage.

Russia’s crypto mining sector saw a surge following China’s 2021 mining ban and a rise in Bitcoin’s value. International sanctions after Russia’s invasion of Ukraine in 2022 further fueled the boom, as traditional banking avenues became limited. This led the Kremlin to legalize mining and explore digital tokens for cross-border payments.

However, this growth has put immense pressure on the country’s power grid. Military and industrial operations linked to the war have added to the electricity demand. President Vladimir Putin has voiced concerns about the “uncontrolled growth” in power demand from mining hubs.

“Power consumption in the nation increased 1.4% last year and is predicted to grow at an average rate of 2.4% yearly from 2025 through 2027,” the Energy Ministry reported. Heatwaves this summer caused blackouts in southern regions, affecting up to 2.5 million residents.

The mining restrictions highlight the government’s efforts to balance economic gains from cryptocurrency with maintaining grid stability. These bans reflect growing apprehension over the environmental and infrastructural toll of unchecked crypto mining expansion.

Source: Russian Crypto Mining Faces Ban Until 2031

WazirX Hacker Moves Stolen Ether Using Tornado Cash 

In a significant development in the WazirX hacking case, the hacker responsible for a massive theft has begun to move stolen Ether (ETH) through Tornado Cash, a privacy-focused cryptocurrency tool. This move highlights ongoing concerns about the security and transparency of digital assets.

The stolen Ether, valued in the millions, was initially swiped from WazirX, one of India’s leading cryptocurrency exchanges. As part of their scheme to obscure the trail of the stolen funds, the hacker is now utilizing Tornado Cash – a service designed to give privacy by mixing cryptocurrencies and making transactions difficult to trace.

Tornado Cash works by pooling various transactions and then redistributing the mixed funds, which helps in anonymizing the source of the assets. This practice complicates efforts by law enforcement and cybersecurity experts to track and recover stolen funds.

The use of Tornado Cash is part of a broader trend where cybercriminals exploit privacy-enhancing technologies to evade detection. For cryptocurrency exchanges and users, this raises important questions about how to balance privacy with the need for transparency and security.

WazirX, in response to the hack, has been working with authorities to investigate the breach and secure the remaining assets. However, the movement of stolen funds through privacy tools presents a significant challenge in tracking and recovering the stolen Ether.

The incident underscores the vulnerabilities within the cryptocurrency ecosystem and the need for enhanced security measures. As the investigation continues, it remains to be seen whether regulatory and technological measures will be be able to address the misuse of privacy-enhancing tools for illegal activities.

In summary, the use of Tornado Cash by the WazirX hacker illustrates the ongoing struggle between privacy and security in the digital asset space, posing significant challenges for recovery and regulation.

Source: WazirX Hacker Starts to Move Stolen Ether Using Tornado Cash

Imogen Heap Offering AI-Powered ‘Songs as a Service’ with Ethical AI Platform

Grammy-winning musician Imogen Heap is collaborating with AI platform Jen to offer fans a new way to create music using her distinctive style and voice. This innovative project includes AI models based on Heap’s music, allowing users to generate compositions inspired by her work.

StyleFilter, one of the tools developed, utilizes AI trained on Heap’s singles “What Have You Done To Me” and “Last Night of an Empire.” The tool lets users blend Heap’s unique stylings into their own music through adjustable AI prompts. “I wanted to enable the fans to come in and generate a piece of music based on my piece of music,” Heap shared during an on-stage discussion at Web Summit in Lisbon, calling the concept “an actual working song as a service.”

Additionally, Jen and Heap have created an AI voice model trained on the artist’s vocals. Jen emphasizes ethical practices and claims its AI models adhere to copyright compliance, using only licensed material. Heap noted her initial struggle to find a generative platform ethically sourcing music until she found Jen, which integrates blockchain technology for compliance. Each newly created track receives a timestamped cryptographic hash logged on The Root Network’s blockchain, preserving its creation’s integrity.

“The landscape is different now,” Heap explained, highlighting the influence of blockchain, social media, and distributed technologies that enable musicians to empower themselves. Heap, known for innovations like motion-tracking music gloves and Creative Passport digital ID service, has also developed an AI persona, Mogen, trained on her interviews and speeches. Heap envisions creating an AI “companion” that evolves and collaborates with other artists to produce ethical, collective music models. “If we can just create these base pieces,” she said, “then we can build anything from it in an ethical, wholesome, and exciting, creative way.”

Source: Musician Imogen Heap Is Offering AI-Powered ‘Songs as a Service’

Ai16z DAO’s Sudden $ELIZA Token Launch Stirring Backlash, Scams Fuel Chaos

In an unexpected move, Ai16z DAO launched the $ELIZA meme coin via Pump.fun, reaching an $80 million market cap within an hour, but triggering backlash and scams. The launch, which outshined a community-led $ELIZA token that debuted days earlier on Vvaifu, caused a 50% drop in value for the original token, leaving early investors upset and questioning Ai16z’s transparency after recent public assurances of no token plans.

Ai16z’s founder explained that the launch was a last-minute decision driven by internal milestones. Shaw, a partner at Ai16z DAO, emphasized separating Eliza AI’s intellectual property from the DAO to achieve artificial general intelligence independently. Shaw clarified that Ai16z did not launch the token but assisted a development team. To ease community discontent, a 10% airdrop of the new token supply was pledged to first $ELIZA holders. However, the lack of prior communication and allegations of insider trading by a partner further fueled outrage.

Scammers took advantage of the confusion by hijacking DEXScreener links, redirecting users to counterfeit tokens for hours, resulting in financial losses. The links have since been fixed.

Amid the turmoil, one trader turned a $1.9K investment into $3.67M, achieving a 1,925x return during the launch frenzy. Ai16z’s founder defended their decision, citing years of planning and inviting original $ELIZA project developers to collaborate. In a recent twist, Tron founder Justin Sun announced support for listing the first Eliza token on the HTX exchange to back the community.

Source: Ai16z DAO’s Surprise $ELIZA Token Launch Faces Backlash, Scams Add to Turmoil

StrikeX Labs Partners With Securitize for Tokenized Funding Round

StrikeX Labs has announced a partnership with Securitize to launch a tokenized funding round, marking a significant step towards modernizing capital markets through blockchain technology. The collaboration aims to offer investors a transparent, secure, and efficient way to participate in funding, leveraging Securitize’s expertise in compliant tokenization solutions.

Tokenized funding rounds represent a shift in traditional capital-raising methods by enabling fractional ownership and simplifying the investment process. By using blockchain, investors can benefit from increased liquidity and reduced barriers to entry, making this a compelling opportunity for both retail and institutional players. StrikeX Labs intends to utilize this model to enhance its own growth trajectory while highlighting the benefits of digital securities.

The partnership underscores a growing trend of companies embracing blockchain-powered solutions to democratize access to investment opportunities. As tokenized assets gain traction, they promise to redefine how capital markets operate, offering more inclusive and streamlined financial systems.

Securitize, known for its compliance-driven approach, ensures that this tokenized funding round adheres to regulatory standards, providing investors with a trusted framework. By collaborating with StrikeX Labs, they aim to set a new precedent for transparency and accessibility in investment offerings.

This move reflects a broader trend within the financial industry, where blockchain technology is reshaping the landscape, creating new possibilities for raising capital, and enhancing market participation. As tokenization becomes more mainstream, partnerships like these pave the way for a more connected and efficient financial ecosystem.

The success of this initiative could open doors for further adoption of tokenized funding models, potentially transforming the traditional funding process into a more dynamic and inclusive mechanism.

Source: StrikeX Labs Joins Forces with Securitize to Launch Tokenized Funding Round

MicroStrategy’s Bitcoin Strategy Delivers 41.8% Return in 2024

MicroStrategy’s ambitious Bitcoin investment strategy has paid off handsomely in 2024, yielding a remarkable 41.8% return. The company, led by Bitcoin advocate Michael Saylor, has positioned itself as a prominent institutional investor in the cryptocurrency market, with a significant portion of its treasury allocated to Bitcoin. This move has placed MicroStrategy in the spotlight as one of the few major public companies fully embracing digital assets.

The impressive returns come amid a resurgence in Bitcoin’s value, driven by growing market confidence, regulatory clarity, and heightened adoption. MicroStrategy’s consistent accumulation of Bitcoin during market dips has proven to be a strategic advantage, demonstrating the potential for high returns through disciplined investment in crypto.

However, this strategy is not without risks. Critics argue that MicroStrategy’s heavy reliance on Bitcoin exposes it to market volatility and potential losses. Nonetheless, the company’s steadfast commitment to its Bitcoin holdings has influenced other institutions to explore digital asset investments.

MicroStrategy’s success underscores the shifting dynamics in corporate treasury management, where digital assets are increasingly viewed as a hedge against inflation and a store of value. The company’s approach highlights both the potential rewards and the inherent risks of integrating cryptocurrencies into traditional financial strategies.

With its 2024 performance boosting investor confidence, MicroStrategy’s journey could pave the way for broader corporate adoption of Bitcoin, reshaping how companies view digital assets. As the crypto market evolves, all eyes remain on MicroStrategy to see how it navigates future market shifts and whether its strategy continues to pay off.

Source: MicroStrategy’s Bitcoin Strategy Yields 41.8% Return in 2024

Stellar (XLM) Surges Over 24% – Could This Signal a Major Rally?

Stellar’s native token, XLM, recently experienced a notable surge of over 24%, catching the attention of investors and market watchers. The sudden price spike has raised speculation about whether this could mark the beginning of a broader rally for Stellar and its growing ecosystem.

The increase comes amid a wave of positive sentiment around XLM’s potential role in cross-border payments and decentralized finance (DeFi). Stellar’s focus on facilitating fast and low-cost transactions has long positioned it as a key player in bridging traditional finance with blockchain technology. Recent partnerships and network upgrades may have also contributed to increased interest, driving demand and trading volume for XLM.

However, analysts urge caution, noting that market volatility remains a defining characteristic of crypto assets. For XLM to sustain its upward momentum, broader market support, continued adoption, and strategic partnerships will be essential. The token’s historical price patterns have shown that rallies can be short-lived if not supported by solid fundamentals.

Stellar’s latest surge underscores the potential for renewed growth within the blockchain space. As the market evolves, the ability of XLM to maintain its upward trajectory will likely depend on its continued relevance and utility in real-world applications. If sustained, this rally could further solidify Stellar’s position in the crypto market, driving new interest and potentially leading to longer-term gains.

Investors are keeping a close watch on market developments, eager to see if Stellar can capitalize on this momentum and turn a short-term spike into lasting growth.

Source: Stellar [XLM] surges 24.08%: Is this the start of a massive rally?