Author: Yeek.io

New York lawmakers have introduced legislation aimed at protecting cryptocurrency investors by targeting rug pull scams, where project insiders abruptly abandon a project and drain investor funds.Assemblymember Clyde Vanel, chair of the New York Assembly’s Banks Committee, introduced Bill A06515 on March 5. The bill would establish criminal penalties specifically aimed at preventing cryptocurrency fraud and protecting investors from rug pulls.Under the proposal, new criminal charges would be created for offenses involving “virtual token fraud,” explicitly targeting deceptive practices associated with cryptocurrencies.Bill A06515. Source: New York State Assembly“Virtual tokens” refer to security tokens and stablecoins, while “security tokens” include “any…

Salvadoran President Nayib Bukele raised eyebrows among industry observers on March 4 when he said that his government’s Bitcoin purchases won’t stop, despite a requirement from the International Monetary Fund (IMF).El Salvador struck a $1.4 billion loan deal with the IMF in January on the condition that it walk back Bitcoin (BTC) adoption and declassify it as compulsory legal tender.On March 3, the IMF released a report outlining the terms of the agreement, noting that it would prohibit the public accumulation of Bitcoin — i.e., the government or government-controlled entities couldn’t buy Bitcoin or mine it. Bukele, seemingly defiant, said…

My name is Godspower Owie, and I was born and brought up in Edo State, Nigeria. I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life. My parents are literally the backbone of my story. They’ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for anything else in this world. I was exposed to the…

At its core, tokenization transforms traditional assets into digital tokens that can be traded on a blockchain. Whether it be real estate, debt, bonds or shares of a company, tokenization brings efficiency and transparency to these processes. It also broadens retail investors’ access to these asset classes. A new research report by Brickken and Cointelegraph Research surveys the underlying business models and provides an in-depth analysis of why many TradFi firms are jumping on the tokenization trend.The anatomy of tokenized asset issuanceThe journey begins with deal structuring, where the asset, be it a property, a bond or a private equity…

One artificial intelligence (AI)-focused altcoin is surging after going live on South Korea’s largest crypto exchange, Upbit. The information finance (InfoFi) protocol Kaito (KAITO), which is built on the Base network, soared by more than 45% amid the Upbit listing news. Kaito was trading at a low of $1.49, before surging to a high of $2.17. KAITO has since stabilized and is trading for $1.76 at time of writing. With a market cap of $426.8 million, the altcoin is the 168th largest crypto project. Last month, top US crypto exchange Coinbase added support for Kaito with an experimental label. The…

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Solana’s price surge to $150 has crypto enthusiasts buzzing, sparking questions on its potential and future trajectory. Solana’s price surge to $150 has captured the attention of crypto enthusiasts, sparking curiosity about its potential trajectory. With the market riding a bullish wave, investors are eager to understand if Solana will continue its upward journey or if newer trends, like Solana-based memes, hold significant promise. This dynamic environment prompts investors to consider if the recent momentum will sustain, making it…

Understanding liquidity crises A liquidity crisis occurs when an organization lacks sufficient liquid assets, such as cash or assets readily convertible to cash, to meet its short-term financial obligations.Major hacks in the cryptocurrency exchange sector can trigger liquidity crises in several ways. The immediate depletion of assets, especially from compromised hot wallets, can severely impact an exchange’s ability to process withdrawals and maintain normal operations. Beyond the direct financial loss, panic-driven user withdrawals can escalate a crisis. Once news of a hack spreads, customers may rush to withdraw their assets, fearing further losses. This sudden spike in withdrawal requests puts immense…

In a surprising development, Emirates NBD bank, owned by the Dubai government, is making its footsteps in the crypto market. The Dubai government-owned bank has taken the initiative to offer crypto services via its digital bank subsidiary Liv. Through its subsidiary Liv, customers can now buy, hold, and sell digital assets directly on the Liv X app, thanks to a partnership with Aquanow, a licensed crypto service provider. Dubai Emirates NBD Bank Offers Crypto Services According to a recent Bloomberg report, Dubai’s Emirates NBD bank offers crypto trading services. Aligning with the city’s crypto-focused endeavors, the government-owned bank has begun…

Ondo Finance, a key player in real-world asset tokenization, remains in a bear market, having fallen more than 45% from its November 2024 high. Ondo (ONDO) price was trading at $1.60 on Thursday, marking a 30% increase from its lowest level this year. However, strong technical and fundamental indicators suggest a potential rebound in the coming weeks. A key factor supporting a potential recovery is the continued growth of Ondo Finance’s ecosystem. According to DeFi Llama, the total value locked in Ondo’s ecosystem has surpassed $1 billion for the first time. This marks a significant increase from $541 million at…

The memecoin market saw a 5% boost in overall market cap not long after a prosecutor said he wants to freeze $110 million as part of an investigation into the LIBRA meme coin scandal. On March 6, the overall market cap for memecoins nearly reached $62 million, surging by 5% in the past 24 hours of trading. Among the top traded tokens, FARTCOIN (FARTCOIN) rose by nearly 27% to a price of $0.35 while the official Trump coin (TRUMP) went up by 2.3%. TRUMP is currently trading hands at $13.70. The meme coin market went through a major slump following…