Title: Daily Cryptocurrency News Roundup
Introduction:
Welcome to CoinChapter.com’s daily cryptocurrency news roundup. We have curated the top stories in the crypto world for you. Read on to stay informed!
Article:
1. Trump’s Crypto Wallet Surpasses $10M Value
Donald Trump’s crypto wallet now holds approximately $10 million worth of digital assets. The wallet’s largest holding is $7.12 million of the MAGA token, which has seen an 8.3% increase in value in the last day. According to blockchain data tracker Arkham Intelligence, the MAGA tokens were initially purchased using wrapped ether on the Uniswap. Trump’s crypto wallet also contains 463 ETH and 1 million MAGA tokens, valued at $1.84 million and $509,000, respectively. With these holdings, Trump has become one of the biggest celebrity holders of crypto assets, surpassing the likes of Justin Bieber, Kevin Hart, and Jimmy Fallon.
2. Ledger Finally Ships Stax Wallet
After a year-long delay, Ledger has started shipping its new Ledger Stax wallet to customers. The sleek Stax device was designed in partnership with Tony Fadell, the creator of Apple’s pioneering iPod. Originally scheduled for release in March 2023, the launch was delayed due to manufacturing issues. Some pre-order customers expressed doubts about receiving the wallet during this time. However, after a 14-month wait, Ledger announced that shipments have commenced for version 1.4 of the Stax hardware wallet, which is more refined than a typical version 0.9 release for brand-new products.
3. Binance Accused of Secretly Selling Genesis Claims
According to a report from South Korean outlet Hankyung, Binance is accused of selling the Gopax user claims from exposure to Genesis at less than 50% of face value in August 2023. This alleged breach of promise by Binance deprived Gopax investors, who lost around $57 million through the Genesis collapse, of potential gains from the recent bull market. The report claims that Binance initially made repayments through its Industry Recovery Initiative but later sold the remaining claims to a third party at a steep discount, without informing the affected investors.
4. Grayscale’s Ether ETF Could Experience $110M Daily Outflows
Crypto researchers Kaiko predict that Grayscale’s forthcoming spot Ether exchange-traded fund (ETF) could see average daily outflows of $110 million in its first month. This estimate is based on the redemption patterns observed when Grayscale’s Bitcoin Trust transitioned to an ETF in January. During that period, 23% of assets under management ($6.5 billion) were redeemed as the discount between the trading price and net asset value narrowed. With Grayscale’s Ether fund currently trading at up to a 26% discount to NAV, Kaiko analysts expect significant outflows after the ETF launch.
5. YouTube Co-Founder Supports Memecoin ‘Pajamas’
Steve Chen, the co-founder of YouTube, is backing an unusual cryptocurrency project called Pajamas. This memecoin revolves around one of the first viral cat videos uploaded to the platform in 2005, featuring his cat “playing and dancing” to a Nick Drake song. Chen revealed that he devotes 80-100 hours per week to the Solana blockchain-based Pajamas token. After around 100 users flagged it to him on Twitter, he decided to invest in the project. Chen is actively involved in Pajamas while also working on other tech ventures, including an AI ETF and startup investments in Taiwan.
Conclusion:
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