Day: December 11, 2024

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Major cryptocurrency exchange Coinbase (NASDAQ:COIN) has expanded its platform with the addition of three new crypto assets: Magic Eden (ME), Turbo (TURBO), and Gigachad (GIGA). These listings highlight Coinbase’s focus on enhancing its offerings in the Ethereum and Solana networks, catering to the evolving needs of its user base.

New Listings: Magic Eden (ME), Turbo (TURBO), and Gigachad (GIGA)

Coinbase’s latest move introduces Magic Eden (ME), the native token of the NFT marketplace on the Solana blockchain. With the “Experimental” label, ME is now available on Coinbase’s web platform, iOS, and Android apps. Users can buy, sell, convert, send, receive, or store the asset. This addition reflects Coinbase’s commitment to supporting innovative blockchain projects.

Turbo (TURBO), an ERC-20 token on the Ethereum network, also joins Coinbase’s lineup. Marketed as the first meme coin created entirely with artificial intelligence, Turbo’s listing is expected to increase its visibility and attract a larger audience. The token has already experienced a positive market reaction, with its price rising nearly 37% to $0.01315 following the announcement.

Additionally, Gigachad (GIGA), an SPL token from the Solana blockchain, is now supported by Coinbase. Inspired by the “Giga Chad” meme, the token aspires to dominate the meme coin space within the crypto community. GIGA’s price surged by 38% to $0.0733 on the news of its listing, signaling strong market interest.

Trading for TURBO and GIGA is set to commence on or after 9:00 a.m. PT on Dec. 11, 2024, subject to liquidity conditions.

Broader Implications for Ethereum and Solana Networks

The addition of these assets underscores Coinbase’s strategic focus on the Ethereum and Solana ecosystems. Solana’s NFT capabilities, represented by Magic Eden, and Ethereum’s robust smart contract platform, highlighted by Turbo, reflect the diverse use cases within the crypto space.

These listings also signify the growing appeal of meme coins like Turbo and Gigachad. By offering tokens rooted in community-driven narratives, Coinbase attracts both seasoned investors and casual crypto enthusiasts.

Coinbase’s Recent Expansions

The latest listings follow a series of strategic moves by Coinbase. In the past week, the exchange added MOG Coin (MOG) and Moo Deng (MOODENG) to its platform. Both assets are available for trading, further broadening Coinbase’s diverse portfolio.

Coinbase’s support for these experimental and meme-driven assets highlights its effort to stay ahead in the competitive crypto exchange market. By introducing innovative tokens with unique value propositions, Coinbase strengthens its position as a leading platform for digital asset trading.

Market Reactions and Outlook

The market response to these listings has been overwhelmingly positive. Turbo (TURBO) and Gigachad (GIGA) both saw significant price increases, reflecting heightened investor interest. Magic Eden (ME), as an established NFT marketplace token, also benefits from increased accessibility and liquidity.

Coinbase’s focus on Ethereum and Solana networks positions it to capitalize on the growth of decentralized finance (DeFi) and NFTs. With its robust infrastructure and user-friendly platform, Coinbase continues to attract new users and enhance its appeal to the broader crypto community.

Supporting Innovation in the Crypto Space

Coinbase’s addition of Magic Eden (ME), Turbo (TURBO), and Gigachad (GIGA) demonstrates its commitment to supporting innovation in the crypto space. By focusing on Ethereum and Solana networks, the platform caters to diverse user interests, from NFTs to meme coins.

As the crypto market evolves, Coinbase’s proactive approach to asset listings ensures it remains a top destination for digital asset trading. With trading for TURBO and GIGA set to begin soon, investors and enthusiasts alike can look forward to new opportunities within the crypto ecosystem.

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U.S. president-elect Donald Trump is positioning the United States as a global leader in artificial intelligence (AI) and cryptocurrency by appointing key figures to spearhead these initiatives. Trump’s administration promises sweeping reforms in technology regulation, aiming to boost innovation while addressing the challenges posed by AI and crypto adoption.

The Role of the AI and Crypto Czar

David Sacks, former COO of PayPal and founder of Craft Ventures, will serve as the White House AI and Crypto Czar. In this role, Sacks will shape U.S. policy on AI and cryptocurrency, two critical areas for global competitiveness. Writing on Truth Social, Trump emphasized Sacks’ mandate to “guide policy” and “safeguard free speech online.”

Sacks will also lead the Presidential Council of Advisors for Science and Technology (PCAST), responsible for advising on science, technology, and innovation policy. His focus will include establishing a clear legal framework for the cryptocurrency industry, ensuring the U.S. becomes a hub for digital asset innovation.

AI Policy: Reversing Biden’s Executive Order

The Trump administration plans to repeal President Joe Biden’s Executive Order on AI, which emphasized ethical AI development and set privacy standards. According to Trump, these regulations hinder innovation and impose restrictive policies. Instead, Trump’s administration advocates for an AI framework rooted in free speech and economic opportunity.

Elon Musk, CEO of Tesla (NASDAQ:TSLA) and X (formerly Twitter), will co-lead the Department of Government Efficiency (DOGE) to reduce bureaucracy and fast-track tech-focused reforms. Musk, a co-founder of OpenAI, has been instrumental in mainstreaming AI through tools like ChatGPT.

The Crypto Regulatory Landscape

Trump has pledged to transform the U.S. into the “crypto capital” and a “Bitcoin superpower,” diverging sharply from outgoing SEC Chair Gary Gensler’s approach. Gensler’s tenure was marked by stringent crypto regulations, earning him a reputation as “anti-crypto.”

Trump’s nominee for SEC chair, Paul Atkins, is viewed as “pro-crypto” and is expected to foster a regulatory environment conducive to digital asset growth. Atkins, a former SEC commissioner, will play a key role in resolving jurisdictional disputes between agencies like the SEC and the Commodity Futures Trading Commission (CFTC).

The U.S. regulatory landscape remains fragmented compared to the European Union, where the Markets in Cryptoassets Regulation (MiCAR) provides a unified framework. Trump’s administration aims to introduce a cohesive policy to strengthen America’s crypto leadership.

Economic Implications of DOGE

The Department of Government Efficiency (DOGE), co-led by Musk and biotech entrepreneur Vivek Ramaswamy, aims to dismantle bureaucratic inefficiencies and cut federal spending by $2 trillion. Trump likens this initiative to the Manhattan Project, reflecting its significance in reshaping governance and tech policy.

DOGE will operate outside formal government structures, offering guidance to optimize federal agencies and promote innovation. Musk and Ramaswamy are set to conclude their work by July 4, 2026, potentially redefining the role of public-private partnerships in governance.

The Broader Impact of Trump’s Policies

Trump’s integration of AI and crypto into U.S. policy signals a paradigm shift. By prioritizing innovation and reducing regulatory barriers, the administration seeks to position the U.S. as a leader in technological advancements.

However, critics argue that deregulation could exacerbate risks such as privacy violations, fraud, and social inequities. Biden’s executive order warned of these dangers, emphasizing the need for safeguards in AI development and crypto adoption.

As the Trump administration balances innovation with accountability, the global tech community will closely watch how these policies influence the trajectory of AI and crypto industries.

Conclusion

Trump’s focus on AI and crypto underscores the growing importance of these technologies in shaping the future of the U.S. economy. With key appointments like David Sacks and Paul Atkins, coupled with Musk’s leadership in DOGE, the administration is set to redefine America’s tech landscape.

While the potential for growth is immense, striking the right balance between innovation and regulation will be critical to ensuring sustainable progress. The world waits to see if these bold initiatives can truly make America the global leader in AI and crypto.

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DUBAI, UAE, Dec. 10, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, announces the addition of SUI to its On-Chain Earn platform, providing users the ability to participate in blockchain security while earning staking rewards. To mark this launch, a 12,000 SUI bonus pool will be available to eligible participants staking SUI during the event period.

Event Details

• Duration: From now until Jan. 3, 2025, 11:59 PM (UTC)
• Bonus Pool: 12,000 SUI, distributed proportionally based on participants’ staking amounts.

Key Features of SUI Staking on Bybit

• Higher APY Potential: On-chain staking offers competitive annual percentage yields.
• Simplified Process: Bybit handles minor fees and distributes daily staking rewards directly to users.
• Support for Blockchain Decentralization: Staking supports the decentralization and security of blockchain networks.
• Flexibility: Participants can stake and redeem with ease, offering both convenience and accessibility.

Staking Mechanics and Reward Distribution

Users staking SUI on Bybit’s On-Chain Earn during the event must maintain a staking period of at least 24 hours to qualify for earnings and the bonus pool. Rewards will be credited to users’ Funding Accounts daily at 6:00 AM UTC, with no limits on the potential daily SUI earnings.

“We are excited to enhance our On-Chain Earn platform with the addition of SUI staking,” said Joan Han, Sales and Marketing Director of Bybit. “This staking initiative reflects our commitment to empowering users with innovative and accessible ways to grow their crypto assets.”

Bybit On-Chain Earn is an easy-to-use staking service that lets users earn rewards by staking crypto directly on the blockchain. Staking can be complicated, often requiring technical expertise and specialized hardware. Bybit On-Chain Earn simplifies this process by managing all the complexities — gas fees, node operations, and reward distribution — so users can stake popular PoS cryptocurrencies like ETH and SOL with just a few clicks.

Find out more: SUI-percharge with On-Chain Earn: Stake SUI to Earn up to 12,000 SUI

#Bybit / #TheCryptoArk

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

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