Cryptocurrency
Coin XRP news: Someone is promoting XRP via a hacked tweet from the CoinDCX exchange
Coin XRP news: The Twitter account of the cryptocurrency exchange CoinDCX has been hacked. Representatives on the trading floor reported about it from a third-party social networking account. How exactly the attacker gained access to the account remains unclear.
At the time of writing, the exchange account is actively reposting posts related to XRP, a currency. The account is also sending out tweets about fraudulent XRP giveaways. CoinDCX representatives told users to avoid contact with the compromised page and not to click on any links from the account.
Attackers have been actively marketing XRP from the hacked CoinDCX page amid the end of legal battles between the SEC (U.S.) and Ripple. To recap, Ripple attorney James Phelan tweeted on Sunday, September 18, 2022, that Ripple Labs, Brad Garlinghouse and Christian Larsen (current and former CEOs, respectively) had filed an early motion for summary judgment. It can be granted if the moving party proves there is no factual controversy.
Most of the controversy revolved around the regulator’s authority. Ripple argued that the SEC had jurisdiction over transactions related to XRP, a currency — the Ripple Lab’s native coin-that took place on foreign exchanges such as Binance, Bitfinex, Bitforex, Bithumb, Bitlish, BitMart, Bitruem and Huobi.
To recap, the SEC sued Ripple Labs; its former director Christian Larsen, and current CEO Brad Garlinghousefor allegedly raising $1.3 billion through the sale of unregistered securities (i.e., cryptocurrency XRP). The lawsuit was filed in December 2020.
We previously reported that WazirX will follow Binance’s lead and convert Stablecoins to BUSD.
Cryptocurrency
Zircuit Welcomes Ocelex: The Newest MetaDEX Driving DeFi Growth on Zircuit
[PRESS RELEASE – Zurich, Switzerland, December 6th, 2024]
Ocelex is positioned to launch as a MetaDEX and liquidity layer on Zircuit, a zkEVM-based Layer 2 ecosystem designed for scalability and security. With its focus on capital-efficient innovation, community-driven participation, and 100% revenue sharing among token holders, Ocelex aims to create a transparent and inclusive DeFi environment.
Zircuit’s infrastructure, which includes AI-driven sequencer security, provides a strong foundation for decentralized applications. Recent developments, such as the token generation event (TGE) of the $ZRC token, have increased attention on the ecosystem. Ocelex’s launch will leverage this momentum to establish itself as Zircuit’s primary decentralized exchange, prioritizing liquidity, accessibility, and growth within the DeFi sector.
Ocelex as the First Lynex Expansion
As the first franchise expansion of Lynex—the leading liquidity protocol on Linea—Ocelex builds on a proven foundation. Lynex has achieved over $3.5 billion in trading volume and distributed $7.5 million in revenue to token holders, positioning it as one of the top-performing ve(3,3) DEXs. Ocelex continues this legacy by introducing Automated Liquidity Management (ALM) aggregation, a feature designed to simplify liquidity management through automated strategies. This approach reduces risks like impermanent loss while ensuring consistent yield for liquidity providers (LPs).
Strategic Partnerships and Pre-Launch Momentum
Even before its official launch, Ocelex has established key partnerships and secured significant Total Value Locked (TVL). These partnerships include:
- EtherFi, Kelp, and Renzo for LRTs (liquidity restaking tokens).
- Lido and StakeStone for LSTs (liquid staking tokens).
- StakeStone and Elara, two leading money market protocols to ensure seamless, integrated liquidity flows for users.
Ocelex’s strong pre-launch performance underscores its potential to play a key role in Zircuit’s ecosystem growth. With a current TVL of $4.6M and total trading volume of $13.3M, Ocelex has already secured a solid foothold in the DEX category.
A Community-First Approach
Ocelex follows Lynex’s community-centric strategy with an airdrop that prioritizes long-term alignment. 45% of Ocelex’s initial supply will be airdropped to Lynex veLYNX holders who have locked tokens for one year or more. This approach rewards loyal participants while fostering ecosystem stability. Locking veLYNX has historically provided some of the most consistent yields among ve(3,3) protocols, a trend Ocelex aims to replicate.
The Upcoming Public Sale
The Ocelex public sale begins on December 9th at 10:00 UTC and will run for 60 hours in a Dutch auction format. The auction ensures fair market pricing, starting at $0.30 and decreasing to $0.06.
Key Sale Details:
- Tokens for Sale: 2,000,000 $OCX (2% of initial supply).
- Minimum Price: $0.06 | Starting Price: $0.30.
Following the sale, the Token Generation Event (TGE) will commence, marking the start of liquidity mining and distributing tokens to pre-miners and airdrop recipients.
For a comprehensive overview of the public sale, refer to this article or watch the accompanying short video.
Ocelex Public Sale Projections
Ocelex’s Dutch auction public sale lets the market decide its valuation and launch price, starting at $0.30 and decreasing linearly to $0.06.
Community airdrop recipients, who will receive 50% of the initial supply as governance tokens, also stand to benefit from higher sale prices. With interest in Ocelex as the next big ve(3,3) DEX on Zircuit, the auction is expected to be highly competitive, following in the footsteps of Lynex, Aerodrome, and Thena.
Ocelex’s Growth Potential
Ocelex has the potential to secure substantial TVL on Zircuit, a network with over $2.5B in total value locked (TVL). This potential is modeled on the success of other ve(3,3) protocols:
- Aerodrome: Secured 41.56% of Base’s $3.85B TVL ($1.6B), with an FDV of $2.5B. Ocelex could achieve $1.039B TVL with a similar share.
- Lynex: Commands 4.7% of Linea’s $494M TVL ($23.2M) with an FDV of $29M. Ocelex could secure $117.5M TVL with comparable performance.
- Thena: Captures 1.47% of BNB Chain’s $5.8B TVL ($85M) with an FDV of $565M. Ocelex could achieve $36.75M TVL with this share.
Ocelex Key Metrics:
- Dominant Case: $1.039B TVL (41.56%).
- Moderate Case: $117.5M TVL (4.7%).
- Conservative Case: $36.75M TVL (1.47%).
With an FDV range of $6M to $30M, Ocelex presents an undervalued opportunity for early participants, particularly when compared to Aerodrome’s $2.5B FDV or Thena’s $565M.
The Future of DeFi with Ocelex and Zircuit
Ocelex combines Lynex’s successful model with Zircuit’s technical infrastructure, aiming to serve as a cornerstone for DeFi activity. With strong pre-launch momentum, strategic partnerships, and a focus on community alignment, Ocelex is positioned to deliver value and scalability for users and the broader DeFi ecosystem.
About Ocelex
Ocelex is the first expansion of the Lynex brand, launching as a franchise on Zircuit, an emerging Layer 2. Ocelex democratizes sophisticated liquidity strategies, seamlessly connecting everyday traders with expert-level capabilities. It features a competitive ecosystem of Automated Liquidity Managers (ALMs) and strategists, all striving to optimize returns, minimize risks like impermanent loss, and boost overall efficiency for every user.
Users can learn more about Ocelex through the following links
Website: www.ocelex.fi/
DApp: app.ocelex.fi/
Discord: discord.com/invite/rTkZNbNggh
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Cryptocurrency
Lingo Secures Strategic Partnership with Stewards Investment Capital for RWA Revolution
[PRESS RELEASE – Trou Aux Biches, Mauritius, December 5th, 2024]
Lingo, the token revolutionizing RWA with its community-first model, has announced a strategic partnership with Stewards Investment Capital. This collaboration can solidify Lingo’s position as an anticipated RWA token launch in 2024, combining viral product, gamified users experience with 25 years of institutional and investment expertise.
Building a Consumer-First RWA Ecosystem
Lingo is the first RWA token tailored for a mass audience, utilizing real-world assets to fuel its unique rewards ecosystem. By building a diversified RWA portfolio, Lingo delivers tangible, lasting value to its growing community of over 2 million members and 8 million app users.
Institutional backing has been a cornerstone of Lingo’s strategy. Its investor network collectively manages more than $3 billion in assets, and the advisory board includes former executives from BlackRock, Google, and Booking.
Investment Partnership
Stewards Investment Capital, with over 25 years of experience in RWA management, has deployed more than $1 billion across the United States and South Africa. This proven track record across diverse asset classes makes Stewards a partner to propel Lingo’s ecosystem forward.
Together, the two organizations will deploy capital into carefully vetted RWA products, combining Stewards’ institutional expertise with Lingo’s innovative model. The partnership ensures the sustainability of the rewards ecosystem by leveraging Stewards’ institutional-grade expertise.
Lingo’s Unique Approach to Rewards
At the core of Lingo ecosystem is its groundbreaking model: transaction fees are reinvested into real-world assets, potentially generating yields that fuel rewards for the community. This novel approach has positioned Lingo as an upcoming pioneer in consumer-first RWA space.
By combining forces, Lingo and Stewards Investment are set to redefine how communities can benefit from real-world assets in the digital age.
For more information, users can visit: Lingo website – http://mylingo.io
Stewards Investment Website – https://stewardsinvestment.com
About Lingo
Lingo is building the gamified, RWA-powered rewards ecosystem for the next billion in Web3. The main goal is to reward the community with real-world benefits consistently and exponentially, powered by real-world assets that generate true value for the ecosystem.
The premise of Lingo is very simple: To create an ever-growing rewards ecosystem that generates real-world community rewards, regardless of token and market volatility.
Stewards Investment Capital is a boutique investment advisory firm with over 25 years of experience as part of the Stewards Group of Financial Companies. Strategically located in Mauritius, South Africa, and the USA, the firm specializes in crafting niche investment solutions for high-net-worth individuals and institutional investors, driven by a high-alpha approach.
Stewards’ commitment to its investors is rooted in its mission to grow and nurture their wealth, build lasting fortunes, and create enduring legacies to achieve real freedom. Recognized by Global Private Banker, Africa Global Funds, and Global Finance, Stewards continues to foster close relationships with its investors, delivering exceptional service through innovative offerings and positioning itself as a preferred global investment partner.
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Cryptocurrency
Fed Chair Likens Bitcoin to Gold, Says It’s Not a Rival to the Dollar
Federal Reserve Chairman Jerome Powell has dismissed the idea that Bitcoin could replace the U.S. dollar, likening the cryptocurrency to gold as a speculative asset rather than a store of value.
Powell shared these views during his appearance at The New York Times DealBook Summit in Manhattan.
Powell’s Argument
When asked whether Bitcoin’s popularity reflects a lack of faith in the U.S. dollar or the Federal Reserve, Powell said, “I don’t think that’s how people think about it.” He went on to describe Bitcoin as a highly volatile asset used for speculation rather than as a stable store of value.
“It’s just like gold, only it’s virtual,” Powell said. “It’s very volatile, it’s not a competitor for the dollar, it’s really a competitor for gold.”
These remarks come at a time of heightened speculation about Bitcoin’s role in global finance. It has seen a significant price rise in recent weeks, driving its market capitalization to over $2 trillion.
According to CompaniesMarketCap.com, the cryptocurrency is now the seventh-largest asset globally. Bitcoin ranks behind gold, which has an estimated market value of $18 trillion, and five major American companies, including Nvidia, Alphabet, and Meta.
Powell’s conservative stance on Bitcoin and other cryptocurrencies is consistent with his previous statements. In 2021, he similarly criticized Bitcoin for its volatility, arguing that it failed to serve as a reliable store of value or medium of exchange.
At the time, he referred to all cryptocurrencies as speculative investments that would not replace the dollar but could rival gold as an alternative asset.
Following the 71-year-old’s reappointment as Federal Reserve Chair in 2021, Galaxy Digital CEO Mike Novogratz expressed concerns, stating that his leadership would likely hinder market growth.
“People are getting pretty bearish on crypto,” Novogratz said at the time.
Concerns Under Powell’s Leadership
Under Biden’s administration, the Federal Reserve has been accused of playing a key role in “Operation Chokepoint 2.0,” an alleged effort to stop the growth of the U.S. cryptocurrency industry by cutting crypto firms’ access to traditional banking services.
In August 2024, these allegations were reignited after the Fed directed Customers Bank, a crypto-friendly institution, to tighten its risk management and compliance measures. This prompted Gemini co-founder Tyler Winklevoss to declare that Operation Chokepoint 2.0 “is alive and well.”
Crypto’s banking issues began years ago, intensifying after the collapse of FTX, which triggered stricter regulations against blockchain companies.
This included mandates from the OCC, FDIC, and Federal Reserve that discouraged banks from serving crypto firms. As a result of this, many crypto-friendly banks like Silvergate Bank, Signature Bank, and Silicon Valley Bank have since been forced to close.
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