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CoinDCX Initiates Customer Protection Fund
By Mark Hunter 6 days agoWed Aug 07 2024 07:19:34 Reading Time: 2 minutes CoinCDX has initiated a customer protection fund to compensate victims of security breaches The fund has launched with $6 million from company profits and will be increased over time This initiative has echoed Binance’s SAFU fund, which holds around $1 billion in stablecoins Indian crypto exchange CoinCDX has initiated a customer protection fund which will pay out victims of any breach of its security following the $230 million hack on fellow Indian exchange WazirX. The fund, which will be populated with company profits, has launched with...
Ripple’s Stablecoin Approved: RLUSD Launch Could Supercharge XRP Demand
Ripple’s RLUSD stablecoin is launching imminently with NYDFS approval, poised to ignite XRP liquidity and ecosystem growth across major blockchains and partner platforms. Regulatory Green Light: Ripple’s Stablecoin Launch Is Around the Corner Ripple disclosed the forthcoming introduction of its stablecoin, RLUSD, on social media platform X Tuesday. The company emphasized the importance of vigilance against fraud and impersonation attempts as the launch approaches. “RLUSD is launching soon! Stay vigilant and report any impersonations or scams,” Ripple wrote. CEO Brad Garlinghouse affirmed the news, revealing that the New York State Department of Financial Services (NYDFS) has issued final approval for...
MicroStrategy boosts BTC holdings with $805M acquisition in Q2
The previously announced 10-for-1 stock split will be effective by August 7. Photo: Joe Raedle/Getty Images Key Takeaways MicroStrategy acquired 12,222 bitcoins at an average price of $65,882 each during Q2. The company reported a net loss of $102.6 million due to significant digital asset impairments. Business intelligence firm MicroStrategy acquired 12,222 bitcoins for $805.2 million since the start of Q2 2024, bringing its total holdings to 226,500 BTC at an average cost of $36,821 per Bitcoin. For July, the company’s founder and chairman Michael Saylor announced on X that it has acquired an additional 169 BTC for $11.4 million....
