Trust Wallet CEO Says $8 Billion Held in Stablecoins, Most Growth Potential in Africa and South Asia

Yellow Network, a next-generation decentralized clearing network for digital assets, has secured $10 million in seed funding led by Ripple Co-Founder and Silicon Valley pioneer Chris Larsen. This strategic investment comes as the market valuation reaches over $200 million, positioning itself as a frontrunner in the DeFi trading revolution. Other notable backers and supporters include Consensys, GSR, NxGen, MV Global, Gate Labs, ZBS Capital, Moonrock Capital, Math, Cobo, NOIA Capital, and LD Capital. Yellow Network introduces an innovative decentralized clearing protocol to address critical industry challenges, including liquidity fragmentation, scalability, and counterparty risks. The chain-agnostic network is built on state channel technology and provides capital efficiency, reduced latency, and scalability for the ever-growing digital asset market. Industry Leaders Driving the Innovation Yellow Network is the brainchild of a seasoned team of fintech and crypto experts led by Louis Bellet, a visionary entrepreneur and systems architect. As the founder of Openware, a leading provider of crypto exchange software, Louis brings a deep understanding of the industry's challenges. His expertise in building robust trading platforms has been instrumental in shaping the network architecture. Joining Louis is Alexis Sirkia, co-founder of GSR, the pioneering market-making firm. Sirkia’s extensive experience in trading and market dynamics has been invaluable in developing Yellow Network's value proposition. Together with Camille Meulien, a seasoned software architect, this dynamic trio is driving innovation and redefining the future of crypto trading. The Significance of Chris Larsen's Support Chris Larsen’s involvement marks a pivotal moment for Yellow Network. As a key figure in the development of online FinTech and blockchain technology, Larsen’s endorsement reinforces the importance of Yellow Network’s mission to bring trust, efficiency, and safety to the cryptocurrency trading industry. His pioneering work with Ripple, particularly in cross-border payments, significantly highlights the strategic alignment between the two companies as Yellow Network deepens its integration with Ripple’s XRPL EVM sidechain. Chris Larsen, Ripple Co-Founder, said, "I'm proud to support Yellow Network as it tackles liquidity fragmentation in crypto trading and sets new standards for the rapidly evolving digital asset ecosystem. Yellow Network's protocol is essential for the new players entering the space, and its ability to deliver fast trade execution and capital efficiency is a game-changer for high-speed trading firms." Yellow Network’s CEO, Louis Bellet, stated, “Having Chris Larsen's support is an incredible validation of our efforts. His contribution to Ripple and online finance transformed how the world perceives and utilizes blockchain technology. His involvement gives us the confidence to push forward and reshape how digital asset markets function.” Looking Ahead: $YELLOW Token and Future Developments As part of its next phase of growth, Yellow Network is preparing for the launch of the $YELLOW token, scheduled for Q4 2024. This token will be the lifeblood of the Yellow Network ecosystem, powering transactions across the platform. In preparation for the token launch, Yellow Network will roll out an exclusive liquidity-locking campaign, allowing the community to participate actively in the network’s expansion through liquidity mining. Additionally, Yellow Network plans to bring its partnership with Ripple to life by integrating Ripple’s XRPL EVM sidechain. This collaboration will further strengthen Yellow Network's capabilities, positioning it as a fundamental player in the evolving retail and institutional trading landscape. About Yellow Network Yellow Network is building the first decentralized clearing network for digital assets, addressing the inefficiencies of traditional crypto trading systems. By leveraging state channel technology and chain abstraction, the protocol drastically reduces latency, enables horizontal scalability, and improves capital efficiency, providing a secure, non-custodial solution to the modern trading ecosystem. Yellow Network is a project under the Layer-3 Foundation, a non-profit organization dedicated to supporting the adoption of chain-agnostic technologies that accelerate the mass adoption of blockchain. To learn more, visit www.yellow.org.

Fantom (FTM) has seen a remarkable price surge of 40% over the past month. The cryptocurrency reached $0.51 on September 16, marking a significant rebound since August 6. What is going on? Data shows FTM climbed from $0.26 on August 5 to an intraday high of $0.53 on September 16. That's a whopping 103% increase. This performance is striking when compared to major cryptocurrencies: Bitcoin dropped 4% in the same period, Ethereum fell by 12.6%. The total crypto market cap shrank by 2.5% to $2.02 trillion. FTM's rally has made it one of the top gainers among the top 100 cryptocurrencies by market cap. Crypto trader "Mister Crypto" attributes this to "a lot of development behind the scenes." The upcoming Sonic upgrade is the biggest buzz, as it is set to supercharge Fantom's network performance. The upgrade introduces a new Fantom Virtual Machine, an optimized consensus mechanism, and improved storage. Sonic's launch is planned for late 2024. It aims to boost transaction speed from 30 to over 2,000 per second. Finality time will drop to about one second, and that's a game-changer for the network. The upgrade will also slash storage needs by up to 90%. This makes node operation cheaper and more accessible. But what's even more important it's fully compatible with existing Ethereum tools and contracts too. Despite the price pump, Fantom's DeFi ecosystem is still in recovery mode. Total value locked (TVL) stands at $86.5 million, that's a far cry from its $7.93 billion peak in March 2022. But there are signs of life, as TVL has grown 22% since August 8. Daily active addresses have jumped 67% this month, from 203 to 346. Technically, FTM is flirting with a bullish pattern. It's trading just below the neckline of an inverse head-and-shoulders formation. A breakout could target $0.81, a 56% upside from current levels.

Bhutan, the tiny Himalayan kingdom known for its "Gross National Happiness" index, has a surprising new claim to fame. The Buddhist nation is secretly hoarding a massive Bitcoin fortune. Data sleuths at Arkham Intelligence have blown the lid off Bhutan's crypto stash. The kingdom owns a whopping 13,011 BTC, worth about $780.49 million. This revelation is a real head-turner. It puts Bhutan in the big leagues of government Bitcoin holders. "Bhutan is the 4th largest government with Bitcoin holdings on our platform, with over $750M in BTC," Arkham tweeted. But here's the kicker: unlike other governments, Bhutan isn't sitting on seized assets. The kingdom's Bitcoin comes from its own mining operations. And they've been ramping things up since early 2023. Druk Holdings, Bhutan's investment arm, is behind this crypto push. They've set up mining facilities across the country. The biggest operation? It's on the site of a failed "Education City" project. Arkham's sleuths didn't stop at blockchain data. They've been playing detective with satellite imagery too. "We were able to corroborate the timeline of on-chain mining activity with time-lapse satellite imagery of facility construction," Arkham noted. Pretty nifty, right? But Bhutan isn't going it alone. In May 2023, they teamed up with Bitdeer for a 100% carbon-free mining operation. Earlier this year, Bloomberg reported that Druk Holding & Investments and Bitdeer were thinking big. They're planning to boost mining capacity from 100 to 600 megawatts. Bhutan's eco-friendly mining approach is no accident. The kingdom's flush with hydropower, making it a prime spot for green Bitcoin production. This crypto venture is a far cry from Bhutan's traditional image. The kingdom, nestled in the eastern Himalayas, is known for its stunning monasteries and pristine landscapes. Bhutan's embrace of Bitcoin mining represents a bold step into the digital age. It's a stark contrast to the country's carefully preserved cultural heritage. The kingdom has long prioritized environmental conservation. Its constitution mandates that 60% of the land must remain forested. Bhutan's Bitcoin strategy could potentially boost its economy. The country has been grappling with youth unemployment and a growing national debt. However, the volatile nature of cryptocurrencies poses risks. Bhutan's significant Bitcoin holdings could expose it to market fluctuations. The kingdom's move into crypto mining also raises questions about energy use. While Bhutan's hydropower resources are substantial, balancing power needs with environmental goals could prove challenging. As Bhutan navigates this new digital frontier, the world watches with interest. The Dragon Kingdom's Bitcoin gambit could reshape its economic future - for better or worse.

Circle, the stablecoin issuer, is teaming up with Sony Block Solutions. The goal? Make USDC the go-to token on Sony's Soneium blockchain. This move brings bridged USDC to Soneium. It's a big deal for creators and users looking for safe, borderless transactions. What's bridged USDC? It's USDC moved from one blockchain to another. Usually, it starts on Ethereum. The original USDC gets locked up, and an equivalent amount is minted on the new chain. Circle announced the partnership on Monday. They're pretty stoked about it. "This marks a significant milestone," they tweeted. It's all about "setting the stage for a new era of creativity in the Web3 space." Jun Watanabe, the big cheese at Sony Block Solutions Labs, chimed in. He's pumped too. "This collaboration aligns ideally with our vision," he said. It's not just about tech. It's about "delivering tangible benefits to Soneium and users worldwide." The timing's interesting. Sony's blockchain subsidiary just launched the "Minato" testnet for Soneium. Talk about striking while the iron's hot. So, what's Soneium all about? It's Sony's shot at shaking up entertainment with blockchain. We're talking digital rights management, NFTs for fans, the whole nine yards. Developers can build dApps using Sony's tech. It's opening doors for decentralized services tied to Sony products. Pretty nifty, right? But hold your horses. The mainnet isn't launching until 2025. No specific date yet. For now, Soneium's still in test mode. This USDC integration could be a game-changer. It's setting up Soneium to be a player in the global decentralized economy. Only time will tell if it lives up to the hype.

Two unlikely crypto contenders are turning heads in the market. Analysts are hyping up Sui and Mpeppe for potential triple-digit gains, Bitcoinist points out. Sui, a Layer-1 blockchain, is making waves with its recent upgrades. It's slashed transaction times to a mere 390 milliseconds. That's lightning-fast in the crypto world. Mpeppe, on the other hand, is killing it in the casino ICO space. It's already sold 80% of its presale tokens. Investors are chomping at the bit for more. The numbers being thrown around are eye-watering. Analysts predict a 300% rally for both tokens by 2024. But that's not all. They're forecasting a whopping 500% increase by 2025. Sui is currently trading between $0.731 and $1.171, experts reckon it's on the verge of a breakout. If it pushes past $1.171, we could see a quick 37% jump. Mpeppe has become a real surprise in the gambling world. It's leveraging blockchain tech to shake up online casinos. Some optimistic souls are even talking about 150x gains post-launch. The bullish sentiment isn't just hot air. Both projects have solid fundamentals backing them up. Sui's tech advancements are no joke. Mpeppe's focus on the booming gambling industry is smart. For investors, it's a tempting combo. Sui offers blockchain innovation, Mpeppe brings the excitement of casino gaming. Together, they're a potent mix. But let's keep it real. Crypto is volatile, and these predictions are ambitious. There's always risk involved. Do your homework before jumping in. That said, the potential is undeniable. If you're looking to spice up your portfolio, Sui and Mpeppe might be worth a punt. Just don't bet the farm on it.

The England High Court of Justice has dropped a bombshell. It's ruled that Tether's USDT stablecoin is property. This verdict's got the crypto world buzzing. Crypto pundit GS took to X (formerly known as Twitter) to break it down. He reckons this could be a game-changer for USDT adoption. Why? It's all about cutting through the regulatory fog. "This ruling provides a clear legal framework for cryptocurrencies like USDT," GS posted. It's a green light for investors, signaling USDT's legitimacy and stability. But here's the kicker: GS thinks this could set off a global domino effect. It's one of the "first detailed recognitions of cryptocurrency as [a] property," he notes. Other jurisdictions might follow suit, and that could mean smoother sailing for crypto regulations worldwide. Not everyone's popping champagne, though. GS points out a potential fly in the ointment. Legal recognition could mean Tether faces more regulatory scrutiny, that might also lead to stricter compliance rules. There's more. This ruling could open Pandora's box of legal battles for Tether. If there are any skeletons in Tether's reserve closet, they might come tumbling out. GS warns this could spark "volatility or a drop in trust if negative information emerges." Some crypto die-hards might not be thrilled either. They dig the whole 'no government oversight' vibe. GS reckons increased regulation could spook them and they might jump ship to "less regulated or more privacy-focused assets." So, what's the market going to make of all this? GS says it's not a clear-cut bullish or bearish scenario. It'll depend on how the crypto grapevine spins it and how Tether plays its cards. Short-term, we might see a bull run due to the "novelty and positive media coverage." Long-term? It's anyone's guess. It'll hinge on how Tether adapts to its new legal status. GS doesn't see this causing major waves in the broader crypto market just yet. Unless it messes with trading volume, investor sentiment, or global regulations, that is. This UK ruling isn't happening in a vacuum. The British government's also cooking up a bill to classify crypto and tokenized assets as personal property. Looks like the crypto legal landscape is in for a shake-up.

Coinbase, the top US crypto exchange, has rolled out Coinbase Wrapped Bitcoin (cbBTC). It's a 1:1 Bitcoin-backed token on Ethereum. The move has set the crypto world abuzz. cbBTC aims to bridge Bitcoin with decentralized finance (DeFi). It's now live on Ethereum and Base blockchains. Users can access popular DeFi apps like Aave and Curve Finance. Coinbase's blog post explains the perks. "cbBTC removes a key point of friction," it states. Users can now provide Bitcoin as liquidity or use it as collateral in DeFi. The conversion process seems straightforward. When users send BTC from Coinbase to Base or Ethereum, it automatically becomes cbBTC. The reverse happens when cbBTC lands in Coinbase accounts. But not everyone's thrilled. Justin Sun, Tron's founder, is leading the pushback. He called it a "dark day for BTC" on Twitter. Sun's beef? He claims cbBTC lacks proof of reserve and audits. Sun didn't stop there. He warned that a single US subpoena could freeze all associated Bitcoin. "Essentially, it's just, 'Trust me,'" he mocked. The criticism isn't coming out of thin air. Recent drama around Wrapped Bitcoin (WBTC) has made folks wary. WBTC's custodian, BitGo, recently partnered with a Sun-affiliated company. It raised eyebrows about centralization. Amid the fuss, other players are jumping in. Investment firm 21shares announced its own wrapped Bitcoin, 21BTC. It's getting crowded out there. Some industry experts are chiming in. Fireblocks' VP, Arik Galansky, told Decrypt that WBTC hasn't kept pace with tech evolution. He thinks the market needs better alternatives. Vijay Pravin Maharajan from bitsCrunch pointed out the risks. He's worried about centralization and smart contract vulnerabilities. It's not all sunshine and rainbows in the wrapped Bitcoin world. Coinbase isn't taking the criticism lying down. They told Decrypt they're keeping tight control of the keys. No lending or funny business with the backing Bitcoin, they promise. Hours after launch, Coinbase had to issue a warning. Scammers were already trying to impersonate cbBTC. It's a jungle out there, folks. The debate rages on. Is cbBTC a game-changer or a ticking time bomb? Only time will tell. But one thing's for sure – the crypto world is never dull.

XRP's value remains robust, it's free from speculative pressures. That's what one market expert claims. Most digital assets have bubble traits, their value stability is uncertain. But XRP might be different. Crypto enthusiast SMQKE weighed in recently. He highlighted XRP's durability. SMQKE shared a document to back his claims. It stated: "Macroeconomic and financial developments did not significantly affect XRP's value. Bitcoin price changes didn't influence XRP." The document also mentioned a study, that found bubbles in Bitcoin and Ethereum. Meanwhile XRP showed no bubble. What's a speculative bubble? It's when prices are driven by hype, rather than by fundamental worth. SMQKE dropped a bombshell. He said Bitcoin and Ethereum have been in a bubble since 2017. He blamed price manipulation and dodgy centralized strategies. XRP's different, apparently. Its value isn't speculative, and SMQKE credits "technological security" for this. What does this mean? XRP's price can't be hyped up like other cryptos. Its value comes from real-world use. Think cross-border transactions and institutional finance. SMQKE's not done yet. He also claims Bitcoin and Ethereum aren't as decentralized as people think. This, he says, makes XRP even more solid. But wait, there's more. Some analysts are bullish on XRP. Crypto expert Pharaoh predicts a 2017-style breakout this year. Pharaoh's logic? It's all about Bitcoin halving. Eight months after the 2016 halving, XRP soared. He thinks history might repeat itself. There's a catch, though. Pharaoh says XRP needs to clear its legal hurdles first, because Ripple's ongoing lawsuit with the SEC is a big deal. If that gets sorted, Pharaoh's optimistic. He sees "tons of fundamental and technical momentum" for XRP in 2025. So, is XRP really bubble-proof? Or is this just clever marketing? The jury's still out. But one thing's for sure – XRP's got people talking.