Home Latest Insights | News DYDX v4, Venmo, JPex, Optimism and Other Crypto News

DYDX v4, Venmo, JPex, Optimism and Other Crypto News

DYDX v4, Venmo, JPex, Optimism and Other Crypto News

DYdX v4, the latest version of the decentralized exchange protocol, has announced a partnership with Squid and Axelar to enable cross-chain liquidity for Cosmos-based appchains. Squid is a decentralized liquidity network that connects appchains to each other and to Ethereum, while Axelar is a protocol that facilitates interoperability between blockchains. By integrating Squid and Axelar, DYdX v4 aims to offer a seamless and secure trading experience for users and developers across different ecosystems.

Venmo, a popular payment app owned by PayPal, announced that it will soon allow its users to send and receive payments in PayPal USD, a stablecoin backed by the US dollar. This feature will enable Venmo users to access the benefits of cryptocurrency, such as fast transactions, low fees, and global reach, without the volatility and complexity of other digital assets.

Venmo said that it will launch the PayPal USD option in the first quarter of 2024, following a successful pilot program with select customers. Venmo’s move is part of PayPal’s broader strategy to integrate cryptocurrency into its platform and services.

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The cryptocurrency market showed little reaction to the Federal Reserve’s decision to keep the benchmark interest rate near zero on Wednesday. Bitcoin, the largest and most popular digital asset, traded sideways around $50,000, while other major coins also remained stable.

The Fed’s announcement was widely expected by investors, who are looking for clues on when the central bank will start tapering its massive bond-buying program that has supported the economy during the pandemic. The Fed said it will continue to monitor the progress of the recovery and the inflation outlook before making any changes to its monetary policy stance.

Optimism, a layer 2 scaling solution for Ethereum, has announced that it has sold $162 million worth of its native token, OPT, in a private sale. The sale was led by Andreessen Horowitz and Paradigm and included participation from other prominent investors such as Alameda Research, Coinbase Ventures, and Polychain Capital.

Optimism said that the token sale was part of its plan to decentralize its network and governance, and that it will soon enable the transfer of OPT tokens to the public. OPT tokens will be used to secure the Optimism network, pay for transaction fees, and participate in governance decisions.

Friend.Tech is a new app that lets users compete with each other in various tech-related challenges, such as coding, hacking, or designing. The winner of each challenge gets to claim the loser’s social media handle on platforms like Twitter, Instagram, or TikTok.

The app has gained popularity among tech enthusiasts who want to show off their skills and earn bragging rights. Pepe, a famous hacker and influencer, has recently joined the app and announced that he will put his coveted Pepe handle on the line for anyone who can beat him in a hacking contest. The challenge has attracted thousands of participants who are eager to win the prize and become the new Pepe.

Hong Kong authorities have ordered the suspension of JPEX, a popular online trading platform, as part of an ongoing investigation into its operations. The Securities and Futures Commission (SFC) and the police raided JPEX’s offices on Monday and seized its computers and documents. The SFC said JPEX had violated the Securities and Futures Ordinance by providing unlicensed securities trading services to Hong Kong investors.

JPEX’s website and app were also blocked by the Office of the Communications Authority (OFCA) on Tuesday, making it inaccessible to local users. JPEX has not commented on the situation, but its website said it was undergoing system maintenance. The SFC warned investors to be cautious when dealing with online platforms that offer securities trading without proper authorization.

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