Here is the top crypto news of the day curated by CoinChapter.com.
Trump’s Crypto Wallet Hits $10M Value
A crypto wallet linked to Donald Trump now holds around $10 million worth of digital assets. The wallet’s largest holding is $7.12 million of the MAGA token which is 8.3% in the last day.
Source: XAccording to blockchain data tracker Arkham Intelligence, the MAGA tokens were initially purchased using wrapped ether on the Uniswap. In addition to MAGA, Trump’s crypto wallet contains 463 ETH and 1M MAGA tokens worth $1.84M and $509,000, respectively.
Related Post: Is Donald Trump’s Memecoin MAGA The Riskiest Yet Most Profitable Crypto Bet in 2024?
With these cryptocurrency holdings appreciating in value, Trump has surpassed other celebrities like Justin Bieber, Kevin Hart, and Jimmy Fallon. He has even become one of the biggest celebrity holders of crypto assets.
Another Crypto News of the Day: Ledger Finally Ships Stax Wallet
Crypto hardware wallet maker Ledger has finally begun shipping its new Ledger Stax wallet to customers, over a year after initially taking pre-orders. The sleek Stax device was designed in partnership with Tony Fadell, the creator of Apple’s pioneering iPod.
Originally slated for release in March 2023, the Ledger Stax launch was significantly delayed due to manufacturing issues. As the months dragged on, some impatient pre-order customers raised doubts about ever receiving the wallet on forums like Reddit.
Source: RedditAfter a 14-month wait, Ledger announced shipments have commenced for version 1.4 of the Stax hardware wallet. The company claims this initial version is more refined than a typical version 0.9 release for brand-new products.
Binance Accused of Secretly Selling Genesis Claims
A report from South Korean outlet Hankyung cites a source claiming Binance sold the Gopax user claims from exposure to Genesis at less than 50% of face value in August 2023. This allegedly breached Binance’s promise to fully compensate Gopax investors who lost around $57 million through the Genesis collapse.
The report alleges that after making initial repayments through Binance’s Industry Recovery Initiative, it then sold the remaining claims to a third party at a steep discount. Binance hid this move from affected investors who were deprived of potential gains from crypto’s recent bull market.
Grayscale’s Ether ETF Could See $110M in Daily Outflows
Grayscale’s forthcoming spot Ether exchange-traded fund could experience average daily outflows of $110 million in its first month if it follows similar redemption patterns to Grayscale’s Bitcoin Trust after its ETF conversion, according to crypto researchers Kaiko.
When the Grayscale Bitcoin Trust transitioned to an ETF in January, it saw 23% of assets under management ($6.5 billion) redeemed in the first month as the discount between its trading price and net asset value narrowed.
With Grayscale’s Ether fund holding $11 billion in assets and currently trading at up to a 26% discount to NAV, Kaiko analysts expect to see outflows averaging $110 million per day (around 30% of Ether’s Coinbase volume) as the discount narrows after the ETF launch.
Crypto News: YouTube Co-Founder Backs Memecoin ‘Pajamas’
Steve Chen, the co-founder of YouTube, is supporting an unusual cryptocurrency project called Pajamas. This memecoin centers around one of the first viral cat videos uploaded to the platform he created in 2005. The video features his cat “playing and dancing” to a Nick Drake song.
Source: XChen revealed he spends 80-100 hours per week on the Solana blockchain-based Pajamas token.
While not initially involved, Chen said he bought into the Pajamas memecoin after around 100 users flagged it to him on Twitter. The YouTubeco-founder is now heavily involved while also working on other tech projects like an AI ETF and startup investments in Taiwan.
Follow CoinChapter to read the top crypto news every day!
The post Top Crypto News Of The Day: MAGA Token, Ledger Stax Wallet, and More! appeared first on CoinChapter.
