Reddit Buys Bitcoin & Ether With Excess Cash
Nigeria Blocks Crypto Exchanges As Naira Hits Record Lows, ERC-404 Hype Inspired Injective's New CW-404 Standard
Welcome to Coinfeeds Daily Digest! Reddit has bought Bitcoin and Ethereum with its excess cash reserves and a16z invested $100M in EigenLayer, the cutting-edge re-staking project. With Nvidia beating earnings expectations, AI tokens have started to surge, and with them, Worldcoin has surged 40% to a record price, and an L1 project Injective is unveiling CW-404 - a new token standard - as a response and alternative to the ERC-404 craze. Moreover, Nigeria is to block the biggest crypto exchanges Coinbase, Binance, and Kraken amid its naira currency crisis where record lows were hit, and Ondo Finance is integrating tokenized treasuries onto the Aptos network.
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Reddit Buys Bitcoin, Ether With Excess Cash Reserves
Reddit has announced its decision to invest its excess cash reserves into Bitcoin (BTC) and Ethereum (ETH). This decision, as detailed in a filing with the U.S. Securities and Exchange Commission, marks another step for the social media giant towards embracing the potential of crypto and blockchain technologies. | Read More
Nigeria Blocks Access To Coinbase, Kraken, Binance
Nigeria has initiated a crackdown on major cryptocurrency exchanges, including Coinbase, Binance, and Kraken. This decision comes in the wake of the Nigerian naira hitting record lows, prompting the government to take drastic measures to stabilize the national currency and address the ongoing cash shortage. | Read More
Injective L1 Launches CW-404 Standard Amid ERC-404 Hype
Injective has recently introduced a new standard known as CW-404, drawing inspiration from the experimental ERC-404 token standard popular within the Ethereum ecosystem. This move is not just a technological advancement but also a strategic effort to capitalize on the growing hype around ERC-404 tokens, which are collectively worth over $173 million. | Read More
Worldcoin Jumps 40%, Hitting Record High, Other AI Tokens High on Nvidia Earnings
Worldcoin's WLD token, co-created by OpenAI CEO Sam Altman, has seen a remarkable 40% increase, reaching a record high of $8.85. This surge is part of a broader rally in AI-related cryptocurrencies, sparked by Nvidia's impressive earnings report and optimistic sales forecast. WLD has hit a record high. | Read More
a16z Invests $100M in EigenLayer
The $100 million investment by Andreessen Horowitz is not just a financial boost for EigenLayer but a significant endorsement of its technology and vision. As the sole backer in this funding round, a16z's support is a clear signal of its belief in EigenLayer's potential to contribute to the broader blockchain infrastructure. | Read More
Ondo Finance Integrates Tokenized Treasuries With Aptos
At the heart of this partnership is USDY, a token secured by short-term U.S. Treasuries and bank demand deposits. This integration allows USDY to be utilized on the Aptos blockchain, expanding its availability beyond its current presence on Ethereum, Solana, and Mantle. | Read More