Hyperliquid’s HYPE token may soon see a major supply overhaul after a leading crypto asset manager proposed slashing future emissions and community rewards, effectively cutting the token’s supply by 45%. DBA’s Supply Cut Proposal DBA Asset Management investment manager Jon Charbonneau, alongside crypto researcher Hasu, unveiled the plan on X, outlining three key changes to Hyperliquid’s tokenomics: If approved through governance, the move would permanently eliminate 421 million HYPE from FECR allocations and the 21 million in the AF, cutting supply by nearly half. Charbonneau argued that current valuation models unfairly punish HYPE due to excess unissued tokens being factored…
Author: Blockto Team
Montevideo – Stablecoin issuer Tether has denied reports that it has abandoned its $500 million crypto mining project in Uruguay, pushing back against claims from local media that the company pulled out over unpaid electricity bills. Tether Responds to Allegations According to local outlets, Tether’s mining operations were disconnected by Uruguay’s National Administration of Power Plants and Electric Transmissions (UTE) after the operator allegedly failed to pay a $2 million electricity bill for May. Additional liabilities from other projects were reported at $2.8 million, raising the total to $4.8 million, excluding fines. However, Tether disputed the exit narrative, clarifying that…
AVAX drops 7% before bouncing 5% as buyers defend key support Avalanche (AVAX) experienced volatile trading this week, with the token falling nearly 7% in a sharp intraday correction before staging a 5% rebound. The move underscores the growing importance of key support zones as traders watch whether momentum can sustain the asset’s recent rally. The 4-hour chart shows AVAX climbing aggressively toward the $35–$36 resistance zone before sellers stepped in, pushing the price lower. The decline briefly tested support near $29–$30, an area that has acted as a high-demand level in recent weeks. From there, buyers re-entered the market,…
New York – Ether treasury company ETHZilla has announced plans to raise $350 million through convertible bonds, boosting its capital reserves to over $506 million. The funds will primarily be used to purchase more Ethereum (ETH) and expand its participation across the blockchain’s growing ecosystem. Strategic Shift Into Ethereum Yield ETHZilla Chairman and CEO McAndrew Rudisill said the company’s strategy goes beyond simply holding Ether. Instead, it will deploy assets into cash-flow-generating opportunities, including layer-2 protocols and real-world asset (RWA) tokenization. This approach reflects a broader industry trend as digital asset firms look to generate yield through active participation, rather…
Washington, D.C. – A group of nine U.S. lawmakers has urged the Securities and Exchange Commission (SEC) to swiftly act on President Donald Trump’s August executive order that seeks to expand access to alternative assets, including cryptocurrencies, in 401(k) retirement plans. In a letter sent Monday to SEC Chair Paul Atkins, the lawmakers — led by House Financial Services Committee Chairman French Hill and Capital Markets Subcommittee Chair Ann Wagner — requested “swift assistance” in implementing the policy. They emphasized that the SEC should make any necessary regulatory adjustments to support the Department of Labor in opening retirement plans to…
LTC Technical Analysis Signals Increased Volatility Litecoin (LTC/USDT) faced heavy selling on Monday, dropping nearly 8% to trade around $105.16. The sudden decline erased recent gains and pushed the cryptocurrency toward a crucial support area that traders have been monitoring closely. On the daily chart, Litecoin fell sharply after failing to sustain momentum near the $120–$125 resistance range, a zone that previously capped rallies earlier this month. The decline accelerated as sellers gained control, driving price action back into the $100–$105 support band highlighted by earlier consolidation. “The current correction highlights how fragile sentiment remains in the altcoin market,” noted…
Stable, a blockchain network backed by cryptocurrency exchange Bitfinex, has announced a major partnership with PayPal Ventures to integrate PayPal USD (PYUSD) onto its platform. The move is expected to expand PYUSD’s presence across blockchain ecosystems and accelerate adoption in global payments. PayPal Expands PYUSD Utility In a statement, David Weber, head of the PYUSD ecosystem, emphasized that the collaboration with Stable reflects PayPal’s commitment to increasing PYUSD’s utility across multiple networks. Stable’s focus on fast, seamless financial transactions made it an ideal partner for this expansion. Launched in August 2023 with Paxos, PYUSD has grown steadily to become the…
Company targets $500M in annualized AI Cloud revenue by Q1 2026 IREN shares jumped 11% in pre-market trading to $43 on Monday after the company unveiled a major expansion of its AI Cloud business, doubling its GPU fleet to more than 23,000 units. The move positions IREN to capture accelerating demand for high-performance computing as artificial intelligence adoption grows worldwide. $674 Million GPU Expansion IREN disclosed a $674 million investment in next-generation GPUs, including 7,100 NVIDIA B300s, 4,200 NVIDIA B200s, and 1,100 AMD MI350Xs. Deployments will be staged over the coming months at the company’s Prince George campus in Canada,…
ASTER/USD Technical Analysis Points to Potential Breakout Aster (ASTER/USD) continues to attract attention after a sharp rally lifted the token more than 165% in recent sessions, with prices now consolidating near $1.59. The one-hour chart shows a steady ascending trendline, signaling that buyers remain in control despite short-term pullbacks. During the latest trading session, Aster rebounded strongly from the $1.40 green support zone, a level that has repeatedly provided a base for new advances. The market is now approaching a critical resistance range around $1.70–$1.80, where previous rallies faced selling pressure. A break above this area could open the path…
The United Arab Emirates (UAE) has taken a major step toward aligning its digital asset framework with international tax standards. The Ministry of Finance (MOF) announced that the country has officially signed the Multilateral Competent Authority Agreement (MCAA) on the Automatic Exchange of Information under the Crypto-Asset Reporting Framework (CARF). What This Means The agreement establishes a system for the automatic exchange of tax-related information on crypto transactions between participating jurisdictions. This move will strengthen international transparency, cooperation, and tax compliance in the fast-growing digital asset sector. According to the MOF, the UAE will roll out the CARF framework in…