Robinhood Markets Inc. is moving forward with its acquisition of Bitstamp Ltd., a global cryptocurrency exchange. As part of this process, Robinhood Crypto LLC has submitted a change of control application to the New York Department of Financial Services (NYDFS), which announced it received the application on July 3, 2024. This is one of several […]
Bitcoin News
Indian Crypto Exchange Coindcx Going Global With Bitoasis Acquisition
Indian crypto exchange Coindcx is expanding globally by acquiring the Middle Eastern digital asset platform Bitoasis. This strategic move enhances Coindcx’s presence in the Middle East and North Africa (MENA) region while allowing Bitoasis to retain its branding and leadership, signaling a new phase of growth and maturity for both companies. Big Milestone: 2 Market […]
Bitcoin News
Metaplanet Directors Approve BTC Acquisition Plan; Company’s Stock up by Nearly 500% YTD
The directors of Tokyo-based investment and consulting firm Metaplanet Inc. have approved the company’s proposal to purchase Bitcoin worth .25 million using bond proceeds. Metaplanet clarified that the acquired cryptocurrency will be recorded at its acquisition cost for long-term holdings. The company’s stock has surged by almost 500% since the beginning of the year. Valuation […]
Bitcoin News
Ripple Completes Acquisition of Standard Custody & Trust Company
Ripple has completed its acquisition of Standard Custody & Trust Company, a regulated digital asset custodian. This acquisition, announced by Ripple earlier this year, involves a trust company regulated by the New York Department of Financial Services. It broadens Ripple’s portfolio of licenses, which now includes nearly 40 U.S. money transmitter licenses, a Major Payment […]
Bitcoin News
Bitcoin Miner Bitdeer Expands With Acquisition of ASIC Designer Desiweminer
Bitdeer Technologies Group announced its acquisition of Desiweminer, a noted player in the crypto ASIC design landscape. The agreement, finalized on June 3, 2024, involves the exchange of 20 million Bitdeer shares and introduces stringent transfer restrictions, with a vesting period extending up to seven years. Bitdeer and Desiweminer Join Forces in Multimillion-Share Acquisition Deal […]
Bitcoin News
Riot Proposes Acquisition of Bitfarms to ‘Create the World’s Largest Publicly Listed Bitcoin Miner’
Riot Platforms has announced a proposal to acquire Bitfarms to create “the world’s largest publicly listed bitcoin miner.” This offer includes cash and Riot stock, representing a 24% premium. Despite the initial rejection from Bitfarms’ Board, the proposal will be directly presented to shareholders. Riot asserts that the acquisition will establish a vertically integrated, geographically […]
Bitcoin News
FLOKI Skyrockets 32% Higher Following DWF Labs’ $10 Million Acquisition Plan
In a significant development for the Floki Inu memecoin, digital asset market maker investment firm DWF Labs has revealed its plans to purchase million worth of FLOKI tokens. The announcement has triggered a remarkable surge in the token’s price, propelling it to a new 9-month high at .00005097.
DWF Labs Strengthens Partnership With Floki Inu
According to the official statement, DWF Labs will acquire the tokens directly from the Floki treasury over two years, reflecting DWF Labs’ commitment to support the protocol’s ecosystem.
As announced, the firm recognizes the potential for an “explosive” bull run in the cryptocurrency industry and aims to leverage FLOKI’s utility and marketing strength to capitalize on this opportunity.
The partnership between Floki and DWF Labs was initially established in May 2023, when DWF Labs purchased million worth of FLOKI tokens. Since then, DWF Labs has played a pivotal role in boosting FLOKI adoption.
Through the partnership, DFW Labs reportedly facilitated key exchange listings, introduced Floki to influential industry projects, and publicly championed the token’s progress and achievements. DFW Labs concluded in the announcement:
This massive FLOKI token purchase will further deepen our relationship with DWF Labs while strategically positioning FLOKI for dominance in an increasingly competitive landscape during this bull run
Price Soars, TVL Rises, And Chinese TV Exposure
Exciting developments continue for FLOKI as it gains significant exposure on China’s national sports TV channels, CCTV5 and CCTV5+. This exposure results from a strategic market partnership announced in 2023, which took place during the ITTF World Team Table Tennis Championships Finals in Busan 2024.
According to the memecoin development team, this opportunity to be featured on mainstream Chinese television has introduced Floki and its sister asset, TokenFi (TOKEN), to an extensive audience of over 340 million people and solidified their presence in the Chinese market.
The Floki Inu team expressed their excitement about this milestone, emphasizing that being featured on mainstream Chinese television is remarkable, making them among the very few cryptocurrencies to receive such recognition.
Another achievement for Floki Inu is the success of their FlokiFi Locker, a decentralized finance (DeFi) crypto locker protocol. The team announced that the Total Value Locked (TVL) in the FlokiFi Locker had reached an all-time high of 1 million, setting a new record and highlighting the widespread adoption of the token’s utility products.
In addition, the team announced that the total value locked for staked FLOKI tokens has reached an all-time high of 5 million. This represents 25% of the token’s supply, with 5,313,899 worth of tokens locked and staked for up to 4 years.
This position of dominance in staking distinguishes the dog-themed token from other major “memecoins” such as DogeCoin (DOGE), Shiba Inu (SHIB), BONK, and PEPE, as FLOKI has the largest share of its supply staked among them.
The memcoin token is trading at .00004080, maintaining its gains with a surge of over 32% in the last 24 hours. As a result, the market capitalization has jumped to nearly 0 million, reaching 5 million, according to the latest update.
Additionally, the trading volume for FLOKI has significantly increased, reaching 4 million in the past 24 hours.
Featured image from Shutterstock, chart from TradingView.com
Yuga Labs’ Acquisition of Proof Fuels Moonbirds NFT Sales Uptick
Friday saw Yuga Labs, known for creating the Bored Ape Yacht Club (BAYC) non-fungible token (NFT) series, unveiled its acquisition of Proof, a notable NFT startup behind the Moonbirds collection. Kevin Rose, founder of Proof, will assume an advisory role within Yuga, and the startup’s team plans to integrate into the Yuga framework. Moonbirds NFT […]
Bitcoin News
XRP Price Could Surge from New Acquisition, Amid Community Skepticism
Recently, Ripple announced the acquisition of Standard Custody & Trust Company, a digital asset custodian. The company aims to expand into different sectors beyond its core payments network business.
This development may become the key catalyst in driving the price of XRP to new heights, addressing historical challenges of price declines and stagnant growth.
Ripple’s Acquisition Sets Stage For Potential XRP Price Surge
On Tuesday, February 13, Ripple disclosed the formal agreement to acquire Standard Custody to continually expand its offerings and pursue smart acquisitions to capitalize on present and future market opportunities.
The acquisition of Standard Custody signals Ripple’s commitment to serving its customers and fostering growth and security in the Ripple ecosystem. By implementing a digital asset custodian, Ripple can provide secure storage and management of digital assets like XRP.
Additionally, a cryptocurrency custodian can potentially boost confidence in investors and financial institutions. This increased trust may attract substantial institutional investors into the XRP ecosystem, potentially driving up demand and triggering a price increase for XRP.
According to CoinMarketCap, XRP is priced at .5, reflecting a 0.95% decrease in the last 24 hours and an 8.87% drop over the past month.
Despite bullish market trends, the cryptocurrency has lingered around the .5 price for months, leading to a shift in investor sentiment and confidence. Some members of the XRP community have also accused the cryptocurrency of being purposefully suppressed.
In light of this, Ripple’s strategic acquisition has the potential to act as a catalyst, boosting the price of XRP. The digital asset custodian could introduce an element of stability to the XRP ecosystem, addressing regulatory uncertainties plaguing the ecosystem.
Consequently, this may positively influence the general perception of XRP, attracting favorable sentiments and institutional investors and potentially contributing to an upward price movement.
XRP Community Divided As Doubts Emerge
Despite Ripple’s latest announcement and the potential positive impacts the acquisition may have on the ecosystem, the XRP community has remained in doubt, continually voicing out concerns over the depressed state of the cryptocurrency.
Responding to Ripple Chief Executive Officer (CEO) Brad Garlinghouse’s statement about the company’s plans to acquire Standard Custody, an XRP supporter and investor, identified as “MackAttackXRP” on X (formerly Twitter), expressed skepticism, stating that Ripple’s recent developments were insufficient to generate a positive impact on XRP’s price.
Mack revealed that the price of XRP has been “structurally too low for the past five years.” He mentioned a notable shift in perspectives among XRP community members, with some opting to change their XRP for more promising cryptocurrencies or exit the market altogether.
Another XRP community member expressed his frustration about the cryptocurrency’s price, disclosing that many dedicated supporters of XRP are starting to lose hope for the cryptocurrency and may consider leaving before witnessing any significant price increases for XRP.
Chart from Tradingview
Ripple Aims to Expand Regulatory Reach With Standard Custody Acquisition
In a strategic move to bolster its regulatory credentials, Ripple has announced its plan to acquire Standard Custody & Trust Company. This acquisition, pending regulatory approval, is set to enhance Ripple’s portfolio of digital asset solutions and regulatory licenses, marking a significant step in the company’s expansion. Ripple Plans to Acquire Standard Custody & Trust […]
Bitcoin News