Utexo Raises $7.5M To Launch Bitcoin-Native USDT Settlement Infrastructure

Utexo, a startup building Bitcoin-native stablecoin settlement infrastructure, announced a $7.5 million seed round co-led by Tether, Big Brain Holdings, and Portal Ventures. 

The round also included participation from Franklin Templeton, Maven11 Capital, Fulgur Ventures, Alchemy VC, Ethereal Ventures, Auros Ventures, Arcanum Capital, Paper Ventures, Axia8, FlowTraders, Plan B, Gate Ventures, Sats Ventures, and strategic angels including operators from Ledger, Hyperion, BTC Turk, Echo, Legion, and SOLV.

The company was founded to address a longstanding gap in the cryptocurrency ecosystem: enabling USDT to settle natively on Bitcoin with robust, production-ready payment rails….

Read more on BitcoinMagazine

Watch This Signal For A Bitcoin Bottom, Bitwise’s Matt Hougan Says

Bitwise’s Chief Investment Officer Matt Hougan says crypto may be nearing a structural turning point as geopolitical shocks, institutional adoption and regulatory clarity reshape the market.

Crypto’s 24/7 Advantage

In a Mar. 5 podcast with Paul Barron, Hougan pointed to when Presdent Trump announced military action against Iran while traditional financial markets were closed.

During that window, traders turned to decentralized platforms such as Hyperliquid (CRYPTO: HYPE) to trade assets like oil and gold.

Hougan said the episode highlighted the advantage of crypto’s 24/7 markets and could push hedge funds and global traders to adopt DeFi infrastructure so they can react to geopolitical…

Read more on Benzinga

Kazakhstan’s Central Bank To Channel $350 Million Of Reserves Into Crypto And Bitcoin  Investments

The National Bank of Kazakhstan plans to allocate up to $350 million from the country’s gold and foreign exchange reserves toward investments tied to digital assets, marking one of the most significant steps by a central bank to gain exposure to the crypto sector.

Governor Timur Suleimenov said the initiative will focus on companies and financial instruments connected to cryptocurrency markets rather than direct purchases of assets like Bitcoin. The investments are expected to include shares of technology firms involved in digital asset infrastructure as well as index funds whose performance tracks crypto-related markets.

The allocation represents a small portion of…

Read more on BitcoinMagazine

Why Is Jiuzi Holdings Stock Surging Today? – Jiuzi Hldgs (NASDAQ:JZXN)

Jiuzi Holdings (NASDAQ:JZXN) shares are up on Friday following a significant investment announcement.

• Jiuzi Holdings shares are climbing with conviction. Why is JZXN stock up today?

The company has secured an $80 million investment from a strategic investor, which is expected to enhance its financial flexibility and operational capabilities as it moves into the crypto asset space, adding pressure as broader markets edged lower.

The strategic investor will initially subscribe for 40 million ordinary shares at a price of $2 per share, marking a substantial cash influx for Jiuzi.

Additionally, the agreement sets the stage for a second phase involving actual crypto contributions,…

Read more on Benzinga

XRP Down 4%, But Why Do Whales Keep Accumulating?

Large holders have been aggressively accumulating XRP (CRYPTO: XRP) even as XRP remains in a firm downtrend.

Whales Expand XRP Holdings

According to Santiment data, cited by TheCryptoBasic, while smaller shark addresses and some whales panic-sold around 2.87 billion XRP, the largest whales holding 10 million to 1 billion tokens accumulated 4.18 billion XRP during the downturn.

Tthese major holders now control 19.61 billion XRP, about 32% of the circulating supply, marking their highest combined balance on record.

Wallets holding 10–100 million XRP leading the accumulation by adding 2.88 billion XRP over the past six months.

Ripple And XRP To Benefit From Clarity Act

Paul Barron’s podcast…

Read more on Benzinga

Russia Considers Simplified Licensing Path For Bank-Run Crypto Exchanges

Russia’s central bank is weighing a plan that would allow banks and brokerage firms to operate cryptocurrency exchanges through a simplified licensing pathway tied to their existing financial permits, according to remarks from Governor Elvira Nabiullina.

Under the proposal, financial institutions could obtain authorization to run crypto trading platforms through a “notification process,” rather than applying for a new standalone license. 

The approach would allow firms that already hold banking or brokerage licenses to expand into digital asset services using their current regulatory status.

Back in January, Anatoly Aksakov, head of the State Duma Committee on the…

Read more on BitcoinMagazine

Strike Secures New York BitLicense, Opening Bitcoin Financial Services To State Residents

Strike, a Bitcoin financial services firm founded by Jack Mallers, has received both a BitLicense and a money transmitter license from the New York State Department of Financial Services, allowing the company to operate in one of the most tightly regulated digital asset markets in the United States.

The approval allows Strike to offer its Bitcoin brokerage, payments, and custody services to individuals and businesses across New York.

The state’s regulatory framework requires firms to meet standards for capital reserves, cybersecurity, and operational transparency.

New York’s BitLicense regime has long served as a gatekeeper for digital asset companies seeking access to the…

Read more on BitcoinMagazine

Pudgy Penguins Sued By Original Penguin Brand Owner Over Trademark Use – Visa (NYSE:V)

The owner of the Original Penguin apparel brand filed a lawsuit Wednesday against the Pudgy Penguins NFT brand for alleged trademark infringement.

‘Unauthorised’ Penguin Usage?

Perry Ellis International argued that Pudgy Penguins continued to produce retail goods even after receiving a cease-and-desist order in October 2023, The Block reported, citing a federal court filing. PEI asserted that this has “diluted” the value of its Penguin brand, which was established in 1955.

The complaint said that Pudgy Penguins’ “unauthorized” use of the Penguin word and design marks could “mislead” consumers into believing that they are connected to PEI.

Meanwhile, Pudgy Penguins took…

Read more on Benzinga

Arthur Hayes Says Rising Treasury Yields Could Trigger A Money-Printing Bailout And ‘Benefit’ Bitcoin

Arthur Hayes, Chief Investment Officer at Maelstrom Fund, told Benzinga on Thursday that rising oil prices and treasury yields could prove positive for Bitcoin (CRYPTO: BTC).

What Treasury Yields Spike Amid War Means

Hayes argued that the surge in oil prices has disrupted “normal investor behavior.”

The BitMEX founder further noted that as the 10-year Treasury price falls, the MOVE Index, which tracks the volatility in the U.S. Treasury bond market, rises.

Win-Win For Bitcoin?

“Historically, over the past 5 years, if the MOVE index is >130, there is likely some sort of monetary bailout rolled out by the U.S. Government,” Hayes said. As of this writing, the index stood at 74.52.

Benzinga

Billionaire Justin Sun Says SEC Dropped Fraud Charges Against Him And The Tron Foundation: ‘The Future Is Bright’

Tron (CRYPTO: TRX) founder Justin Sun said Thursday the SEC has dismissed the claims it brought against him and his companies for fraud and market manipulation. 

Sun Says ‘Future Is Bright’

Sun stated in an X post that the resolution provides “closure,” and he will now prioritize “accelerating innovation” in the U.S. while collaborating with the SEC on cryptocurrency guidance and regulations.

“The future is bright,” the cryptocurrency billionaire said.

Sun’s Firm To Pay $10 Million In Penalty

In the final ruling from the U.S. District Court for the Southern District of New York, all charges against Sun, Tron Foundation Limited and BitTorrent Foundation Ltd. were dismissed….

Read more on Benzinga