Author: Yeek.io

Societe Generale-FORGE plans to launch its new stablecoin, the USD CoinVertible, on both Ethereum and Solana blockchains. Trading for USDCV is scheduled to start in early July 2025. According to a recent press release, SG-FORGE, the integrated subsidiary of Societe Generale Group dedicated to crypto, is preparing to issue its upcoming USD-backed stablecoin on Ethereum (ETH) and Solana (SOL). Trading for the stablecoin is projected to start sometime in early July 2025. The USD CoinVertible will be the second stablecoin issued by SG-FORGE. Its release comes a few months after the firm deployed its first euro-backed stablecoin on Stellar (XLM),…

Plasma, a startup focused on stablecoins, raised an impressive $500 million in its latest public token offering, far surpassing its initial target. On June 9, Plasma announced on X that its public token sale for XPL sold out in just 40 minutes. The team initially planned to raise $50 million but had to revise it twice, first to $250 million, then to $500 million, after overwhelming interest from buyers. In total, more than 1,100 wallets participated in the token sale, with a median deposit of approximately $35,000 per wallet. The XPL token sale accounted for 10% of Plasma’s total token…

South Korea’s Democratic Party has formally proposed the Digital Asset Basic Act, introducing a stablecoin licensing regime and expanded oversight under President Lee Jae-myung’s administration. During a June 10 press conference, lawmaker Min Byeong-deok announced the bill’s submission, calling it a foundational step toward comprehensive regulation of digital assets, including stablecoins, cryptocurrencies, and related service providers.  Min said the legislation was designed to enhance transparency and investor protection while positioning South Korea as a global leader in the digital economy. The Digital Asset Basic Act builds on the existing Virtual Asset Investor Protection Act, which came into effect in July…

Cardano has launched Cardinal, its first decentralized finance protocol designed specifically for Bitcoin users.  The announcement was made by Cardano (ADA) founder Charles Hoskinson on June 9 via X. Developed by Input Output, the research and development team behind Cardano, Cardinal allows Bitcoin (BTC) holders to access DeFi services such as lending, staking, and borrowing without using traditional custodians or centralized bridges. Cardinal functions by wrapping Bitcoin, particularly its unspent transaction outputs. UTXOs are bits of Bitcoin that have been left over from transactions and are used to represent ownership. They are converted into wrapped tokens by the protocol, which…

Sky Protocol, formerly MakerDAO, launched its much-anticipated staking rewards program, and the numbers are already turning heads. In a June 9 post on X, the team revealed that more than $568 million worth of SKY tokens have been staked, with participants currently earning USDS at an annualized rate of 16%. Strong early engagement with the program is demonstrated by the distribution of more than 1.6 million USDS in the first week alone.  More than $568 million in SKY are now getting USDS rewards at a current annual rate of 16%.In just one week since launch, over 1.6 million USDS has…

Under the leadership of Paul Atkins, the U.S. Securities and Exchange Commission is looking to fast-track crypto innovation through exemptions and tailored rulemaking. During the fifth meeting of the SEC’s Crypto Task Force roundtable titled DeFi and the American Spirit, Atkins outlined plans for a new “innovation exemption” that would provide conditional relief from certain regulatory requirements. While broader regulatory changes remain under development, the exemptions would provide a temporary structure to support the safe deployment of onchain services. Atkins said the exemptions would be designed to support firms that are willing to meet specified conditions while developing blockchain-based systems.…

  Shiba Inu whales scooped 1.93 trillion tokens. SHIB has made moderate gains, rising 1.03% in 24 hours. Since hitting a local high of $0.00001764 three weeks ago, Shiba Inu [SHIB] has traded within a descending channel. Over a month, the memecoin has declined by 20.53%, reflecting strong downward pressure. Shiba Inu’s continued price decline has opened up a buying opportunity for many market participants. This is especially true for large entities, as whales re-enter the market, actively accumulating the dip.  Source: IntoTheBlock According to IntoTheBlock, Shiba Inu whales have resurfaced in the market, aggressively accumulating the memecoin. Just two…

Three Months. Five Records. One Arbitrage System.Bancor’s Arb Fast Lane is on a tear.It wasn’t long ago I shared that Bancor’s Arb Fast Lane had set new all-time highs for March — a record-breaking moment for one of DeFi’s most advanced pieces of trading infrastructure.Those records didn’t last long.The Arb Fast Lane shattered those numbers in April — breaking records in both transaction count and gas consumption — and then went even further in May, setting yet another all-time high in transaction volume.That’s five new records in just three months — a streak of performance that shows no signs of…

On-chain metrics revealed that exchanges recorded outflows of DOGE worth $10.90 million Traders appeared to be over-leveraged at $0.1776 on the lower side and $0.1868 on the upper side After a prolonged downtrend, Dogecoin (DOGE) flashed signs of a strong bullish reversal, with its price action indicating significant upside potential. In fact, on the four-hour timeframe, the memecoin seemed to face resistance from a descending trendline. At the time of writing though, it appeared to be slowly breaking out. On the charts, DOGE was trading near $0.185, having recorded a modest price hike of 1.35% over the last 24 hours.…

Most of the top wallets on Pump.fun and PumpSwap are bots, according to on-chain researcher Adam. In a post shared on X, Adam said, “Turns out 93 out of the top 100 pumpfun/pumpswap wallets are bots.” This finding has stirred curiosity among meme coin traders across the DeFi space.Adam added that simple bot filters are now being tested and may be used during the rumored airdrop. This airdrop has not been confirmed yet but Adam teased that, “Someone, somewhere who knows someone and something have confirmed a PUMP airdrop, according to some sources.”Adam pointed out some wallets that seem to…