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Cerus Markets Launches Revolutionary Platform for Crypto Derivatives Trading

Labuan, Malaysia, April 4th, 2023, Chainwire

On 4th April 2023, Cerus Markets announced the launch of its new platform for easy, safe, and innovative crypto derivatives trading. Founded by industry veterans, Cerus Markets plans to revolutionize the way people trade cryptocurrencies. 
The Next Evolution in Crypto
Cerus Markets is proud to introduce Non-Deliverable Crypto contracts (NDC’s) as the most advantageous and innovative way to trade cryptocurrencies. For the first time ever, traders can now invest in cryptocurrencies versus the world’s largest companies such as TSLA, AAPL, GOOG, equity indexes like the DOW and DAX, and even versus commodities including Gold, Silver, and Crude Oil- all with zero fees. NDCs also provide investors with up to 100:1 leverage and the ability to go long and short any cryptocurrency.
About Cerus Markets
Established in 2022, Cerus Markets Limited is authorized and regulated by the Labuan Financial Service Authority, Malaysia. Cerus is a multi-asset broker that offers over 200 instruments paired with cryptocurrencies through its innovative product – Non-Deliverable Crypto contracts (NDC’s). Follow us for the latest crypto news!
Cerus Markets believes in empowering traders of all levels with easy and affordable access to the market. Their platform stands out from traditional brokers by not charging entry fees and allowing trading of a wide range of digital assets starting from just $50.
Moreover, traders can benefit from leverage up to 100:1 and a 100% bonus on their first deposit, further enhancing their trading experience.
Visit to learn more about Cerus Markets and its offerings.           No spam, no lies, only insights. You can unsubscribe at any time.

Marketing DirectorVeronica ImashevaCerus [email protected]
Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.

Will Bitcoin replace the USD? US Dollar Dominance Crumbles, BTC on Path to Global Currency

USD’s dominance in global trade is facing major challenges amid the changing geopolitics and developments around the US banking system.
Many investors are betting on Bitcoin to emerge as the global currency of the world in the future.

Amid the changing dynamics of global geopolitics and the current macro developments in the US financial system, the US Dollar is facing imminent threats to its everlasting hegemony in the global financial world. In the aftermath of the Russia-Ukraine war, US’s economic rival China has been working with Russia to push the use of the Yuan in global trade.
It’s also joined hands with key American allies and oil partners like Saudi Arabia in bypassing the US Dollar and making oil purchases directly in the Yuan. CNN released a report explaining how the USD’s dominance seems to be on a declining trend recently.

If the US dollar’s global supremacy erodes, America will face a reckoning like none before.
A surprising segment on CNN.
— Wall Street Silver (@WallStreetSilv) March 27, 2023

As these key developments unravel in the global financial industry, finance enthusiasts are curious as to what will be the replacement for the USD. Crypto enthusiasts believe that the USD’s eroding supremacy is likely to provide a boost to decentralized digital assets.Follow us for the latest crypto news!
As we move towards a multi-polar world many believe that Bitcoin could be the currency of the globe in the future. Backed by decentralized blockchain technology, Bitcoin (BTC) facilitates faster cross-border transactions at low costs.
Bitcoin’s Role in Global Finance
Over the last few years, the adoption of Bitcoin worldwide has accelerated over time. Not only retail players, but big financial institutions and even corporates are seeking exposure to Bitcoin and maintaining BTC reserves.
Although Bitcoin continues to be a very volatile asset class, it’s slowly emerging as a hedge to traditional finance. The performance of Bitcoin against the recent banking crisis in the US and Europe has been a testament to its hedge status.
As the banking crisis unfolded this month sending jitters across global markets, Bitcoin continued to gain strength. The Bitcoin (BTC) price is already up by more than 70% year-to-date outperforming almost every asset class right from equities to Gold. Bitcoin’s resilience during the banking crisis has attracted the attention of investors across the globe.
Although Bitcoin has rallied to $28,000, the liquidity for the world’s largest crypto has dropped to a 10-month low. Speaking to Bloomberg, Conor Ryder at Kaiko said:           No spam, no lies, only insights. You can unsubscribe at any time.
Liquidity on US exchanges and USD pairs in particular have been hardest hit thanks to the banking fears. It looks as if a big reason for the latest price rally in BTC was due to illiquidity, when depth is low, there is less support to not only the downside but also the upside as well.
On the other hand, institutional demand for Bitcoin and other cryptocurrencies also remains strong. Nasdaq, the 52–year-old exchange operator is awaiting approval from NYDFS to secure a license to offer custodial solutions to crypto clients.
Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.

Cryptosat: Ethereum KZG ceremony receives participation from an earth-orbiting satellite

Cryptosat is participating in the Ethereum KZG ceremony and is poised to add its entropic share to the Ethereum KZG Ceremony from an earth-orbiting satellite.
Cryptosat is one of the more than 80,000 participating in the event but Cryptosat’s involvement will mark the first time this has occurred from outer space.

In a new feat aimed at improving Ethereum’s security and scalability, Cryptosat is participating in the Ethereum KZG ceremony from outer space, through its satellite, Crypto2. This satellite launched early this year aboard the SpaceX Falcon 9 and is the successor to the first satellite launch of Crypto1. Crypto2 reportedly has 30x the computational power of its predecessor.
About 550 kilometers above the ground, the satellite orbits the earth every 90 minutes moving over the North and South poles. In supplying randomness to the KZG ceremony, the project assures that the susceptible information and private data on the blockchain are physically inaccessible and any malicious remote access is thwarted by the agencies actively monitoring the satellite. In addition, satellites can work anywhere meaning geopolitical boundaries don’t apply.

Blip blop 🤖📡💻🔒 🛰️ Gm EthereumUploading the KZG ceremony state securely to the #Crypto2 satellite!
Ensuring the validity of Ethereum 🛡️💪
Track the space trusted setup ceremony 👉👈
— Cryptosat (@cryptosat) April 4, 2023
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During Cryptosat’s entropy commit, the public will be able to view progress in real time through a dedicated dashboard aboard the satellite. Viewers can track the satellite’s trajectory and the latest status of the entropy-generating process can be viewed here:
Cryptosat’s Verifiable Random Beacon service will feed entropy generated aboard its Crypto2 satellite into the contribution generated for the ceremony. A press release shared with CNF further notes that each beacon is signed by the satellite itself and is verifiable using Crypto2’s public key generated in space.
Cryptosat Co-Founder Yan Michalevsky stated:
Considering the prominence of Ethereum in the blockchain ecosystem, the significance of scaling the Ethereum blockchain cannot be understated. We’re absolutely thrilled that the Ethereum Foundation funded the execution of the KZG scheme using our satellite’s trusted setup ceremony.           No spam, no lies, only insights. You can unsubscribe at any time.
Seeing our technologies serve the world’s most expansive blockchain network is an important achievement for us, especially considering it’s been less than a year since the launch of our first satellite, Crypto1, into orbit.
The setup comes ahead of the Ethereum Shanghai upgrade for which the entropy by Crypto2 is generated. This highly anticipated upgrade is scheduled for April 12. Given the magnitude of the upgrade and larger Ethereum project, Cryptosat’s satellites which are built from the ground up guarantee no third party has interfered with the computing environment prior to its being launched into orbit. By doing so, not even nation-state actors can tamper with the operations that are carried out aboard the tamper-proof satellite.
Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.

Investors bet big on this Ethereum scaling altcoin – Is this the investment opportunity of your lifetime? Report

Source: Tobias Arhelger – Shutterstock

While Amber Group reduced its ARB holdings, three different Ethereum whales were identified accumulating more of them.
However, Arbitrum Foundation has been accused of acting against the will of the community despite a public vote against ARB spending.

The Ethereum (ETH) ecosystem is preparing for a major network update dubbed Shanghai Upgrade, which is scheduled for April 12. Despite the mixed sentiments on the effect of the Shanghai Upgrade on the Ethereum price action, the digital asset has gained about 50 percent YTD to trade around $1,800 on Monday. About 17.9 million Ethereum (ETH) will be available for withdrawals after the Shanghai upgrade.
As a result, some analysts believe the overall effect could be increased selling pressure. On the other hand, other crypto analysts believe the Shanghai upgrade has a bullish outlook on the Ethereum market as confidence rises in the protocol. Moreover, Ethereum stakers will have the freedom over their digital assets after the event.

I’m shocked it’s a debated question that *de-risking $ETH staking by allowing for unlocks* is bullish. And unfortunately for doubtoooooors, the fact it’s even a question makes me more bullish.
— Chris Burniske (@cburniske) April 3, 2023

Ethereum Whales on the Hunt
Despite the increased regulatory scrutiny in the United States, whereby the Securities and Exchange Commission has claimed all digital assets apart from Bitcoin are unregistered securities, on-chain data shows Ethereum whales have been on the hunt for high-potential Layer 2 (L2) gems. Moreover, Ethereum (ETH) is considered a large-cap altcoin that has been experiencing diminishing returns like Bitcoin. 
According to an on-chain analysis by market intelligence platform Lookonchain, Ethereum whales have intensified their activities on Arbitrum (ARB) tokens since the project launch. Ranked 39th by market capitalization, Arbitrum (ARB) has been leading in trending crypto projects on both Coingecko and Binance’s-backed Coinmarketcap.
Lookonchain identified Ethereum addresses associated with digital asset manager Amber Group. Notably, while Amber Group reduced its ARB holdings, three different Ethereum whales were identified as accumulating more of them.
Interestingly, the largest $ARB investor has not made any transfer or attempted to sell according to onchain data.
The on-chain analytics platform noted that Amber Group sent about $10.3 million worth of $ARB to Binance and OKX centralized exchanges. As a result, the digital asset fund manager currently holds approximately 4.47 million ARB tokens.

2/ 2 related addresses of Amber transferred 11.2M $ARB ($15.8M) out, of which 7.3M $ARB ($10.3M) was transferred to #OKX and #Binance.
And currently holding 4.47M $ARB ($6.3M).
— Lookonchain (@lookonchain) March 31, 2023
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Notably, there are 1,275,000,000 ARB tokens in circulating supply out of 10 billion in total supply. With a market capitalization of around $1.5 billion, Arbitrum (ARB) has a reported 24-hour traded volume of about $989 million. 
Among the largest recent $ARB purchases include several trades from Binance and Okex exchanges.

3/ Whale “0xe04d” received 2,186,954 $ARB ($3.08M) from #OKX 1 day ago, then received 1,861,993 $ARB ($2.62M) from #OKX and #Binance again 10 hrs ago.
Currently holds 4,048,948 $ARB ($5.71M).
— Lookonchain (@lookonchain) March 31, 2023

Side Notes
Trading around $1.19 on Monday, down approximately 5.9 per cent in the past 24 hours, ARB has more upside in future bull markets. Moreover, Arbitrum has managed to attract large global communities and has utility value as a layer 2 scaling solution. Nevertheless, the Arbitrum Foundation has been accused of ignoring the will of the community in a recent proposal (AIP-1). Reportedly, the Arbitrum Foundation has spent part of 750 million ARB tokens despite the community voting against the move.

Arbitrum foundation made a proposal (AIP-1) to allocate 750M ARB tokens for admin and op costs, but $ARB holders voted against it
Now they said the vote was just a formality, and they have already spent 50.5M (6.7%) of the proposed 750M $ARB
Your vote is not vote
— Eden Au (@0xedenau) April 2, 2023           No spam, no lies, only insights. You can unsubscribe at any time.

Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.

Ethereum: Hotel California for the rich and horror flick – Charles Hoskinson

Courtesy of Charles Hoskinson’s TwitterCharles Hoskinson has thrown shade on Ethereum, a project he co-founded before moving to Cardano.Going by data from, 62 percent of all blocks added to the Ethereum blockchain in the last 30 days have enforced OFAC compliance.Charles Hoskinson, the founder of the Cardano blockchain, has continued aiming barbs at the Ethereum blockchain, comparing it to a horror movie. Hoskinson, in response to a graphic depicting the number of blocks produced by the Ethereum blockchain that are compliant with the U.S. Treasury’s Office of Foreign Assets Control (OFAC) since the Merge stated that Ethereum is now comparable to both Hotel California and the Shining. Ethereum now has a two for one: Hotel California and the Shining— Charles Hoskinson (@IOHK_Charles) November 11, 2022The Shining is a popular horror movie released in 1980 based on a Stephen King novel. The movie has been interpreted to have consistent themes of subjugation and putting American imperialism in focus. Hoskinson explains the pop culture reference to stem from the fact that with the Ethereum blockchain adhering to censoring transactions based on OFAC recommendations, the U.S. government decides who gets to use the network.  Follow us for the latest crypto news!“Means that blocks are OFAC compliant. So the US government gets to decide who uses Ethereum,” he wrote in a follow-up tweet. The trend of OFAC-compliant blocks being the majority of blocks added by Ethereum validators has been a long-standing issue on the Ethereum network. It comes from miners, and now validators, using mev-boost—a service that allows outsourcing of block production to increase APR. Going by data from, 62 percent of all blocks added to the Ethereum blockchain in the last 30 days have enforced OFAC compliance. However, the developers of Ethereum have disclosed plans to correct the issue. In a recent update to Ethereum’s development roadmap disclosed by Vitalik Buterin, co-founder of the blockchain, a new milestone of development called “the Scourge” was added to the document that will focus on ensuring that MEV (or Miner Extractable Value) is phased out from the network. Hoskinson creating tense relationships with other blockchain projectsThe latest tirade is not the first time Hoskinson has pointed out flaws in Ethereum, which is a co-founder of, and wither blockchain networks. Shortly after Ethereum completed the move to being a proof-of-stake (PoS) network with the Merge upgrade, Hoskinson called out Ethereum devs for ignoring Cardano’s Ouroboros PoS implementation. He has also criticized networks like Ethereum Classic, calling it a dead project. He also recently described Dogecoin as a centralized project. This has earned him a controversial status in the crypto space even as Cardano also continues to receive its fair share of criticisms for moving too slowly with development. 

Inery Token $INR Goes Live on BitMart Exchange

Singapore, Singapore, 11th November, 2022, Chainwire$INR is live on BitMart Exchange after several strategic partnerships and a successful listing on Huobi Global. The deposit feature opened on November 9, and the trading feature is set to open on November 11. The BitMart listing comes after the community’s request and voting to list the $INR token on the exchange.Inery is a proprietary layer-1 blockchain specifically designed to address database management to fuel a paradigm shift in how data is handled. Inery’s native token, $INR, is to be listed on one of the leading and most trusted cryptocurrency exchanges in the world, BitMart, which serves over 9 million users in 180+ nations and supports 800+ crypto trading pairs and over 750 high-quality cryptocurrencies. This opens up an opportunity for Inery to spread its offerings to a wider audience and change the perception and approach to data management while providing value to the everyday user. Ambitions to Decentralize DataThe way the Inery ecosystem is structured is in a way that breaks entry barriers to Web3. It combines the best of both worlds, the conventional and Web3 spaces, by integrating blockchain functionalities and distributed database properties; and provides an easy-to-use interface to enable the everyday user to easily communicate with the blockchain using layman-level language. Its high-performant, security, and scalability gives Inery different use cases in diverse sectors, including real estate, gaming, finance, governments, healthcare, etc.Inery also aims to provide interoperability between chains, among other industries, without compromising on performance, scalability, and security. Built atop the proprietary layer 1 blockchain running on memory nodes, its decentralized database management solution (DBMS) enables users to perform CRUD operations as well as have complete ownership and control over their data, such that only users with predefined permissions can access it. This is essential in the technological era where user-generated content and big data are streaming in, and the physical world migrates to the virtual realms but is exposed to big tech manipulation, breaches, losses, etc. The $INR token is essential in securing and powering the ecosystem and as a unit of exchange for accessing the decentralized storage of Inery DBMS. MilestonesFollow us for the latest crypto news!This subsequent listing comes barely over a month since the INR token was successfully listed on Huobi, where it was well received. Prior to that, Inery had launched its first public testnet and launched a set of activities where users are rewarded for completing sets of tasks. The second set of activities is currently ongoing, where the testnet has already registered 2000+ master and lite nodes from over 10 countries worldwide.Inery has also carried out successful VC rounds, seeing firms like Metavest invest at a valuation of $128 million and Global Emerging Markets (GEM) commit $50 million. Other VC investors include Nebulous Holdings AG, Menas Global, Cap Lion Point, Truth Ventures, and Zazen. It has also strategically partnered with firms like NexBloc and EDDAVerse, and recently inked an MoU with Bharat Electronics Limited (BEL), a Navratna’s PSU that handles the entire Indian PSUs’ technical parts. The project has also been recognized as the “Best Emerging Blockchain Solution” at the Leaders in Fintech 2022 Awards. Listing ScheduleInery is scheduled to be listed on BitMart on November 11, with the trading pair: INR/USDT. Deposits started on 09/11/2022 at 3 PM (UTC)Trading starts on 11/11/2022 at 3 PM (UTC)About Inery Inery is a layer-1 blockchain solution designed to open the doorway to Web3 by enabling interoperability among blockchains and a streamlined transition from Web2 to decentralization. Inery’s simple-to-use GUI breaks entry barriers to the blockchain, enabling layman-level communication between end-users and the blockchain, while maintaining high throughput, unparalleled security, privacy, data sovereignty, etc.ContactDirector of Marketing & PRTijana D GertnerINERY PTE. [email protected]

BREAKING: Dogechain to move to PoS – Will DOGE hit $0.50 after Twitter integration?

Dogecoin’s Layer-2 scalability solution Dogechain is undergoing transition to PoS.Dogechain will introduce a staking and minting facility for its native token DC with some exciting rewards.The Dogecoin ecosystem has seen some fresh developments taking place recently. In a recent development, Dogechain, the Layer-2 smart contracts platform announced a major network upgrade earlier today.Earlier today, the Dogechain team announced that the Layer-2 scaling solutions for Dogecoin will undergo a transition to the Proof-of-Stake consensus mechanism. The latest development comes just three months after the launch of the Dogechain smart contracts platform.The team disclosed this announcement earlier today on its Twitter handle. The tentative for the network upgrade to PoS consensus is set for the next week on November 14. To execute the upgrade successfully, the team will also be halting the on-chain activities for a period of 12 hours.Thus, the downtime for the Dogechain network will start at 3 AM (UTC) on November 14, as the system undergoes the upgrade. This means that all deposits, withdrawals, and transactions will be suspended at this time. The announcement notes:During the downtime, deposits, withdrawals, and transactions will be unavailable.  Please note that this core PoS upgrade cannot be implemented while the chain is running. No need to be alarmed, however, as grand things are coming! Follow us for the latest crypto news!A major improvement coming along with the Dogechain upgrade will be in its infrastructure which will boost the on-chain performance.Dogechain to introduce PoS stakingDogechain said that the PoS upgrade will enable the minting and locking of veDC tokens. It will allow users to lock-up their native Dogechain (DC) tokens and get rewarded 1:1 in veDC. The transition to the Proof-of-Stake mechanism will introduce a PoS staking facility for users.As a result, users can stake their Dogechain (DC) tokens directly or assign them to validators. Additionally, they will also be able to stake the $veDC received from the DC lockup. The Dogechain team has disclosed details about the staking model that they would employ. Here’s how the lockup and staking exercise would work.To receive rewards in veDC, users will be able to lock up their Dogechain tokens.Users will receive the veDC rewards in a 1:1 ratio to the DC tokens. The longer the time duration of DC tokens lockup, the higher the veDC rewards.Users can further delegate these veDC received to validators and receive rewards in DC.This staking facility will only be available to DC tokens on the Dogechain network. Thus, DC tokens on other networks such as Ethereum can’t be used for staking purposes. Thus, users holding the DC tokens on Ethereum are advised to bridge their tokens to the Dogechain network.With Elon Musk acquiring Twitter recently, all eyes are currently on the development of the Dogechain ecosystem. A lot of players, including Cardano’s Charles Hoskinson, have shown in getting new innovations and features to Dogecoin. The Dogecoin (DOGE) price witnessed a massive rally the week the Twitter deal got finalized.

Peter Schiff: Sell your Bitcoin now – Onchain data signals warning for BTC

Peter Schiff tells followers to sell BTC ahead of a future bearish season.Mid-term BTC Holders push crypto exchange inflow to over 5000 BTC.Popular American broker Peter Schiff believes now is the time for investors to sell BTC in their portfolio. This came amid various unpleasant happenings in the crypto space, like a recent announcement from BlockFi on the inability to function business “as usual”, FTX liquidity crisis, and so on. Already, the price of Bitcoin has plunged greatly and has continued to decline in value. For a coin with an ATH of around $60,000, Bitcoin currently trades at $17,408.74. What a fall! BlockFi tied its current condition to FTX, which is actively seeking funds to remain solvent. Additionally, BlockFi blames its predicament on FTX.US and Alameda. According to BlockFi, the platform’s activity will be limited, including an impaired withdrawal option. The crypto lender aims to protect its users from the ongoing chaos, promising them frequent updates. Until there is further clarity, we are limiting platform activity, including pausing client withdrawals as allowed under our Terms… We request that clients should not deposit to BlockFi Wallet or Interest Accounts at this time.BlockFi’s tweet received several reactions from the Twitter community, including Peter Schiff. He said:This doesn’t look good, but it’s to be expected. Lots more to come. Sell your #Bitcoin if you can, as many people who would like to sell can’t.Follow us for the latest crypto news!Aside BlockFi and FTX.Us withdrawal issues, another implication of the FTX-Alameda crisis has been exposed by on-chain data analysis. The report shows that many mid-term BTC holders are sending their assets to crypto exchanges. Over the past 24 hours, crypto exchange inflow peaked at about 5000 BTC. On the other end, BTC spent output has reached a total of 5,133.49 BTC with two major weekly spikes.Financial analysis shows that the increased sending of BTC to crypto exchanges by mid-term holders will make the market bearish. This analysis complements Peter Schiff’s advice to his followers. The fundamental effect of this spiked crypto exchange inflow will take effect in the next few days. Why is Peter Schiff campaigning for a BTC Sell?For a while now, BTC has been struggling under $20k and Peter Schiff believes there are more events to occur in the future regarding BTC. Analysts believe BTC will plummet below its estimated production cost of $15k. Also, more think crypto bears will send the world’s biggest cryptocurrency by market cap to graves below the $10k mark.Another major concern for Peter Schiff about BTC is the most recent CPI data release. The consumer price index for October was 7.7 percent, with inflation falling to a 9-month low. Though the price of BTC skyrocketed after the CPI release, Schiff argued that it should not be considered as fuel for BTC or the general cryptocurrency market. In fact, the low trading volumes of BTC show the price can fall soon. 

Big for Stellar Lumens: ZUSD launches on Stellar network in billion dollar market

Following the announcement, the price of XLM has gained 6.72 percent in the last 24 hours to currently be trading at $0.096.The Stellar Development Foundation (SDF), is a non-profit organization supporting the development and growth of the open-source Stellar network.Stellar Lumens (XLM), the native cryptocurrency of the Stellar blockchain, is set to see a big boost with the integration of two reputable stablecoins on the blockchain-based payments network. The Stellar Development Foundation (SDF), a non-profit organization supporting the development and growth of the open-source Stellar network, said in a press release that it has launched the GYEN and ZUSD stablecoins on the Stellar network in partnership with Trust Company. The New York-based company is a regulated subsidiary of the Japanese internet conglomerate GMO Internet Group which is the issuer of the stablecoins. GYEN is the world’s first regulated Japanese yen (“JPY”) stablecoin, while ZUSD is a U.S. dollar-pegged stablecoin. CEO and executive director of SDF, Denelle Dixon, said in a statement that the foundation is excited to work with GMO Trust to bring the stablecoins to the Stellar network. He wrote;This integration will merge the speed, scale, and affordability of Stellar with the global utility of the world’s first regulated JPY-pegged stablecoin, a significant milestone on our path to improving interoperability between global payment systems,For his part, Ken Nakamura, CEO of Trust Company said that the integration will connect traditional fiat rails with blockchain-based rails. He further noted that launching on Stellar will benefit clients seeking a “much faster, cheaper, and more scalable solution when compared to Ethereum.”Follow us for the latest crypto news!The release states that both stablecoins are fully backed by 1:1 with fiat reserves of JPY and USD respectively, with the reserves publicly audited monthly by an independent accredited accounting firm. GMO Trust is also offering a no-cost swap between the Ethereum and Stellar versions of the stablecoins. Customers including dApps, exchanges, and payment firms will be able to leverage GMO Trust’s APIs. XLM price staging recoveryMeanwhile, GYEN and ZUSD are not the first stablecoins on the Stellar network. The payment network saw the integration of the Circle-issued USDC stablecoin as a native asset last year. This has seen adoption by protocols building on the network including Wirex, a UK-based digital payment platform. Following the announcement, the price of XLM has gained a 6.72% in the last 24 hours to currently be trading at $0.096 per CoinMarketCap data. The rally comes after the token fell to a two-year price of $0.0815. The price drop has been linked to the FTX liquidity crunch-induced market contagion. 

Ripple: Investors more confident of victory despite 2 new supporters for SEC in the lawsuit

There have been inflows to XRP investment products for the third successive week, hinting that investors are more confident of Ripple’s victory.Another independent firm throws support for SEC in its court battle with Ripple.According to investment data from James Butterfill, a top-level executive with Coinshares, there have recently been massive inflows into XRP-related investment products. He suggests that the inflows might be due to recent developments in the Ripple-SEC case.The Coinshares chief wrote in the latest issue of the digital asset fund flows that institutions’ investments in XRP-related products have reached $1.1 million following the third successive week of inflows. Butterfill believes that investors’ confidence must have been bolstered by the recent events in the Ripple vs. SEC saga.According to him, notable crypto firms such as the blockchain association and Coinbase are among the contributors to these massive inflows. Last week, Stuart Alderoty, Ripple’s General Counsel, tweeted that more than 12 entities are offering help in this matter. They all agree that the SEC was wrong in its allegations against Ripple.Besides the XRP community, some notable names supporting Ripple include the crypto council for innovation, SpendTheBits (a mobile app for crypto), and the investor choice advocates network (a not-for-profit firm).Nevertheless, Ripple CEO Brad Garlinghouse remarked that the court could still take months to give a summary judgment despite the overwhelming support for Ripple. The Ripple CEO predicted that a final verdict on the case could happen by June 2023.However, there could still be a twist to this case following the recent victory by the US financial watchdog against LBRY (a blockchain-built payment and file-sharing network). Earlier in the week, a partner at leading law firm, Hogan & Hogan, tweeted that it won’t be surprising if the SEC includes the judgment from the LBRY case in its final briefing for the Ripple case.LBRY fought the good fight but lost at summary judgment.The Judge hung his hat largely on the fact that there was essentially no use for the tokens at the time of the sales.Follow us for the latest crypto news!I would expect this case to make its way into the SEC’s final brief in the Ripple case.— Jeremy Hogan (@attorneyjeremy1) November 7, 2022The lawyer commenced LBRY for their brave fight even though they eventually lost at the summary judgment. Meanwhile, Attorney John Deaton remains confident that Ripple would win this case. On Tuesday, he tweeted that his confidence in Ripple’s win possibility remains strong despite the latest ruling.A new entity supports SEC’s Ripple allegationsIn a related development, the new sports economy institute (NSEI) has filed an amicus brief at the court to support the US financial regulator’s allegations against the blockchain firm. In its argument, the NSEI claims that Ripple’s native token is a speculative tool whose basis lies in the greater fool theory.The institute further argues that Ripple is overly critical and keeps misinterpreting the relevant parts of the Howey test. The NSEI claims that the speculative intent for holding XRP tokens far exceeds the consumptive intent. It explained that most XRP holders bought the tokens because they saw many others doing the same.The institute further argued that a brief overview of XRP discussion on various forums indicates that most token holders don’t have any “consumptive aim” of holding the token. Instead, they hold it for speculative reasons. The NSEI also said crypto exchanges are taking advantage of this speculative intent to manipulate XRP’s price.