Altcoin
Andrew Tate Spotlights DADDY Listing On CoinMarketCap Amid $110M Token Burn
![](https://coin2049.io/wp-content/uploads/2024/06/andrew-tate_btc_2-1.jpg)
Former kickboxer Andrew Tate has again drawn attention to Daddy Tate (DADDY), a Solana meme coin, following its listing on CoinMarketCap. Moreover, the internet personality has continued to rally efforts for the DADDY coin’s promotion. Furthermore, the infamous internet celebrity also initiated a gigantic $110 million burn for the DADDY crypto.
Andrew Tate & His DADDY Meme Coin Saga
In a tweet, Andrew Tate announced, “$DADDY is live on [CoinMarketCap].” This follows a major burn of DADDY coins, valued at $110.59 million, which saw 400 million tokens removed from circulation. Moreover, Tate had conducted a stream X space to express his joy after burning the massive meme coin reserve.
Tate, who has a massive social media following, has been vocal about his involvement with the DADDY coin. He has stated his intent to impact the Solana network significantly. His Solana wallet includes various meme coins, many inspired by him, with DADDY being the most notable.
In addition, the DADDY coin’s market cap surged to $300 million following the burn, an impressive feat for a newly launched meme coin. As of writing, the DADDY coin price soared 14.11% to $0.2704 on Friday, June 14, according to CoinMarketCap data.
Tate has a history of similar activities in the crypto space. He previously burned 567 million tokens of Top G (TOP G), another Solana meme coin. This burn led to a 200% rally in the coin’s price, although it later plummeted. Hence, netizens have cautioned that DADDY coin might follow a similar trend.
Also Read: Memecoins Making Waves With Potential Gains of Up to 170%
Insider Trading Allegations
The recent surge in Daddy Tate’s price has not come without controversy. Bubblemaps, a blockchain analytics avenue, has raised concerns of insider trading within the DADDY meme coin project. In a detailed thread on June 12, Bubblemaps claimed that at the launch, insiders acquired 30% of the token supply. This amounted to over $45 million spread across 21 wallets.
Further on-chain data from Bubblemaps revealed suspicious activities on June 9. Just before the official announcement of the DADDY coin, 11 wallets funded through Binance bought 20% of the DADDY supply. These wallets now hold about 19% of the total supply, valued at $30 million.
Bubblemaps noted, “Since they are funded through Binance, we can’t 100% confirm they belong to the same group. However, the timing and amounts strongly suggest they do.” Additionally, Bubblemaps uncovered two more clusters connected through a specific wallet.
These clusters acquired 10% of the DADDY supply, equivalent to $16 million, before Tate’s promotional activities. The firm warned that any sales from these wallets and Tate’s unburned tokens at the time, which account for 40% of the total supply, could affect the coin’s liquidity.
In response to these allegations, Tate remained defiant. He asserted, “I will never sell what was sent to my wallet, I will only burn and buy. Forever. Diamond hands.” This statement aims to reassure the market of his commitment to holding onto the tokens.
The DADDY coin’s rapid market cap growth and the substantial token burn are noteworthy events. However, the allegations of insider trading and the potential impact on liquidity remain critical issues to watch. Moreover, Tate’s involvement in the DADDY coin project highlights the influence of high-profile individuals in the volatile crypto market.
Also Read: 3 Cat-Themed Meme Coins To Sell Amid Red-Zone
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Altcoin
Cardano Founder Calls for Crypto Focus in U.S. Election Voting
![](https://coin2049.io/wp-content/uploads/2024/05/Charles-Hoskinson.jpg)
Charles Hoskinson, a prominent figure in the blockchain industry and founder of Cardano (ADA), has expressed concerns about the current U.S. administration’s approach to cryptocurrency. He argues that the upcoming elections present a critical opportunity for the cryptocurrency community to use their votes strategically to steer policy.
Charles Hoskinson Blasts Biden’s Crypto Regulatory Approach
Charles Hoskinson has been outspoken about the detrimental effects of President Joe Biden‘s policies on the cryptocurrency sector. He highlights the administration’s support for the Securities and Exchange Commission’s (SEC) aggressive regulatory tactics, which he terms “regulation by enforcement.” Charles Hoskinson says this approach has stifled innovation and contributed to significant job losses within the burgeoning trillion-dollar industry.
Charles Hoskinson advises that US voters must vote wisely if they want a better future. The blockchain debate has spilled over into politics.#Cardano $ADA pic.twitter.com/L17dtazfXZ
— Cardanians (CRDN) (@Cardanians_io) July 1, 2024
Moreover, he is critical of the lack of a Democratic primary, suggesting it could have exposed what he perceives as Biden’s declining competence. Hoskinson’s critique extends to a broader disappointment with the media’s portrayal of the situation, which he feels fails to hold the administration accountable for these perceived missteps.
Read also: What Does the US Marshals Service Gain from Partnering with Coinbase
Crypto Leaders Seek More Favorable Regulations
Other key players in the blockchain arena, including Messari CEO Ryan Selkis and the Winklevoss twins, support Hoskinson’s viewpoint and are dissatisfied with the current regulatory environment. Similarly, CEOs from major companies like Coinbase and Ripple (XRP) have transformed the crypto lobby into a significant political force, illustrating the industry’s growing readiness to influence policy directly.
Additionally, Anthony Scaramucci, a well-known figure in the investment and crypto sectors, offered only a tepid endorsement of Biden, preferring this to the unpredictability of former President Trump’s administration. These leaders and Hoskinson are pushing for more favorable regulatory conditions for the cryptocurrency industry to thrive.
Crypto Policies Key in Upcoming Elections
In response to these ongoing challenges, Charles Hoskinson urges the crypto community to become single-issue voters focusing on cryptocurrency policy in the upcoming elections. This strategy aims to shift the political landscape to support the technological and economic advancements that blockchain technology can offer better.
Earlier criticisms from Charles Hoskinson include a strong rebuke of a memo circulated among Democrat Committee members, poised to influence a significant hearing on digital asset regulation. This instance, among others, fuels his campaign to encourage critical consideration of crypto policies among U.S. voters.
Also Read: Hashdex Combined Bitcoin and Ethereum ETF Acknowledged By US SEC
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Altcoin
Solana Bulls Eye $150, What’s Next For The Asset?
![](https://coin2049.io/wp-content/uploads/2024/07/Solana-price-1-3.jpg)
Solana (SOL) has gained traction as crypto assets start the week with slight gains. A look at the market shows crypto prices attempt a breakout after previous losses. At press time, the total market cap grew to $2.31 trillion, a 2.33% increase in the last 24 hours sparking a wider bullish projection.
Assets like Solana outpaced the market in the last attempted rebound as price fluctuations continued. Today, SOL price maintains a lead in weekly gains among the top 10 assets rallying on the heels of previous inflows after two ETF applications. While bulls eye the $150 mark, bears opine that poor sentiments and volatility might make the mark unsustainable.
Solana To Climb?
Solana’s price has moved above other assets in the top 10 cryptos by market cap except for Cardano (ADA). SOL trades at $148.15, a 3.78% increase in the last 24 hours behind only ADA with a 5% rebound. The asset’s growth takes its market cap above $68.5 billion while daily trading volumes jumped a massive 45.8% to $1.89 billion.
The weekly growth of Solana points to a renewed upswing as it notched over 16% gains while monthly figures are still in the red zone. Based on recent on-chain data, market analysts have projected an upward trajectory for the asset.
At the moment, SOL is behind previously hit resistance levels after taking a tumble with the wider market. As a result, a reduced uptick was recorded in Solana meme coins and decentralized finance numbers, bearish traders argue.
Bulls Look To Spot ETF
The recent filing of spot Solana ETFs remains a major driving factor for the asset’s price. This year, ETFs have rallied the crypto market following huge institutional investments in the sector. Spot Bitcoin ETF approval in January changed the dynamics after the asset soared to an all-time high above $73,000. Ethereum products are also expected this summer which also ignited bullish activity. Solana holders point to institutional inflows as a pathway to sustained growth.
Also Read: Dogecoin Price To Attempt $2 With Memecoin Supercycle Says Analyst
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Altcoin
What Does the US Marshals Service Gain from Partnering with Coinbase?
![](https://coin2049.io/wp-content/uploads/2024/07/Coinbase-stock-2-1.jpg)
Coinbase Prime has landed a $32.5 million contract with the U.S. Marshals Service (USMS). The partnership mandates Coinbase Prime to custody and manage large-cap digital assets. This collaboration marks a critical step in utilizing blockchain technology for government asset management and reflects a strengthening trust in digital currencies’ viability and security.
Coinbase Prime Secures Major Government Contract
Coinbase Prime will offer advanced trading services and custody solutions, managing the considerable volume of digital assets seized under the US government’s forfeiture programs. The selection of Coinbase for this role followed a thorough competitive evaluation, showcasing its capability to operate securely on a large scale. The agency has emphasized the need for professional, lawful management and disposal of cryptocurrency assets, which must align with the stringent policies of the Department of Justice and USMS.
Moreover, the contract aims to enhance the efficiency of the processes involved in handling digital assets. By consolidating custody and management operations, the USMS intends to improve the administration and liquidation of these assets. The arrangement also supports the diversification of cryptocurrency types that the government can manage and dispose of, broadening the scope of its digital asset capabilities.
Also Read: Circle Bags MiCA’s E-Money License For USDC and EURC
Coinbase Sues U.S. Agencies Amid Challenges
The agreement with the USMS comes when Coinbase has faced significant scrutiny and legal challenges from U.S. regulators, including the Securities and Exchange Commission (SEC). Last year, the SEC filed a lawsuit against Coinbase for operating without proper registration, a case still progressing through the judicial system. Despite these hurdles, Coinbase continues to assert its presence in the digital asset space, recently suing several federal agencies over alleged discriminatory practices against the cryptocurrency sector.
Despite these controversies, Coinbase Prime has demonstrated robust performance in institutional trading. As of the first quarter of 2024, the platform safeguarded assets worth approximately $330 billion and recorded significant institutional trading volume. This ongoing success and the new partnership with the USMS underline growing institutional confidence in Coinbase’s capabilities and cryptocurrency’s legitimacy as a substantial asset class.
Also Read: Metaplanet Boosts Bitcoin Strategy With 10:1 Share Consolidation Amid Key Changes
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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