Author: Yeek.io

Sonic Labs has canceled plans to launch a US dollar-pegged algorithmic stablecoin, opting instead to develop a United Arab Emirates dirham-denominated alternative.On March 22, Sonic Labs co-founder Andre Cronje said the company was working on a US dollar-pegged algorithmic stablecoin with an annual percentage rate (APR) of up to 23%, Cointelegraph reported.However, one week later, the firm reversed course.“We will no longer be releasing a USD based algorithmic stable coin,” Cronje said in a March 28 X post. “Completely unrelated, we will be releasing a mathematically bound numerical Dirham which is settled and denominated in USD, which is definitely not…

The recent drop in ETH price has caused panic in the Ethereum community with now two whale’s $238 million worth of Maker vaults nearing liquidation risk.  A recent post from Lookonchain reveals that two Ethereum whales who have supplied 125,603 ETH – worth approximately $238 million – while borrowing $143.68 million of DAI against it, are on risk of being liquidated if ETH price drops below $1,805 and $1,787 respectively.  The health rate for both the whales have reached 1.05 and 1.06, indicating a severe risk on their collateral as it reaching 1 would result in market selling of all…

Key Takeaways: SEC ends legal actions against key crypto players. The move marks a regulatory shift away from heavy-handed enforcement. Dismissals prevent re-filing, setting a new precedent. Crypto firms gain space to adjust amid changing signals. The tone now fosters dialogue and clearer guidance. The United States Securities and Exchange Commission (SEC) officially dropped its cases against Kraken, Consensys, and Cumberland DRW in a series of joint stipulations this week, the federal regulator announced Thursday.SEC Ends Legal Actions Against Crypto FirmsAccording to three litigation releases posted on the agency’s website on March 27, the three crypto firms will no longer…

Kaito has officially launched the Rewards Station, marking the first phase of the upcoming Kaito Earn ecosystem. Designed as a centralized hub for community-driven rewards, the Rewards Station enables users to easily discover and track ongoing campaigns, especially those linked to Yapper Leaderboards.Source: XIn its current phase, users can explore live rewards with full visibility. The platform will soon introduce automated task checkers and direct reward claiming, offering a seamless and user-friendly experience from start to finish.About KaitoKaito AI is an advanced Web3 intelligence platform that leverages artificial intelligence to index and aggregate data from various sources, including social media,…

The global stablecoin supply could surge to $1 trillion by the end of 2025, potentially becoming a key catalyst for broader cryptocurrency market growth, according to CoinFund managing partner David Pakman.“We’re in a stablecoin adoption upswell that’s likely to increase dramatically this year,” Pakman said during Cointelegraph’s Chainreaction live show on X on March 27. “We could go from $225 billion stablecoins to $1 trillion just this calendar year.” He noted that such growth, while modest compared to global financial markets, would represent a “meaningfully significant” shift for blockchain-based finance.Pakman also suggested that the rise in capital flowing onchain, combined…

Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency. Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems. In two years of active crypto writing, Semilore has covered multiple aspects of the digital…

Key Takeaways: The new efficiency task force has been given access to SEC infrastructure, bringing debates over whether streamlining reforms could undermine the agency’s independence during a pivotal crypto policy shift. The SEC’s shrinking workforce and retreat from crypto enforcement expose a regulatory vacuum increasingly filled by private-sector agendas under the guise of cost-cutting partnerships. This collaboration epitomizes a Trump-era strategy of reshaping federal agencies through backchannel operational alliances rather than transparent policymaking. Elon Musk’s Department of Government Efficiency (DOGE) is reportedly moving into the U.S. Securities and Exchange Commission (SEC) as part of a new liaison team initiative.According to…

Community members backing a Broccoli memecoin on BNB Chain are outraged, claiming their project was unfairly denied victory in the network’s liquidity support program.The BNB Chain Meme Liquidity Support Program, which kicked off on Feb. 18, offers $200,000 in permanent liquidity to the top-performing memecoins on the chain. But controversy erupted on day two of the competition on Feb. 19 when two memecoins — both inspired by Binance founder Changpeng Zhao’s dog Broccoli — went head-to-head.In the end, the Broccoli token ending in address “714” was declared the winner over the one ending in “F2B.” However, supporters of the F2B…

Key Takeaways: Regulators open fresh channels to hear crypto community views. Public forums and expert reviews may reshape enforcement methods. Lawmakers push for clearer guidelines on stablecoins and digital assets. Internal debates reveal evolving priorities in oversight. Global tax ideas could alter market behavior. U.S. crypto regulation developments accelerated this week as the Securities and Exchange Commission (SEC) scheduled new public roundtables and Congress introduced a stablecoin bill to address mounting calls for regulatory clarity.This edition of Weekly Crypto Regulation News Roundup also covers Ripple’s settlement with the SEC, a split vote on a high-profile enforcement case involving Elon Musk,…

A whale sold 743,947 TRUMP worth $7.92M at $10.66 – Taking another $3.3M loss on TRUMP Altcoin’s price fell by 8% as a triangle pattern broke and sellers gained more momentum A whale is in the news today after it made a massive transaction, selling 743k TRUMP tokens for $7.92 million at $10.66. According to LookOnChain’s analysis, this resulted in a loss of $3.3 million. The whale completed its third unsuccessful sale, thus accumulating $15.7M in losses since buying tokens for profit at first. Needless to say, these losses were a product of not just other sales in the memecoin’s…