Central African Republic debuts memecoin managed by state-owned mineral firm 

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In today’s edition of sentences I never expected to write: The Central African Republic launched a Solana memecoin over the weekend, announced by President Faustin-Archange Touadéra on X.

President Touadéra has long been a crypto fan, following El Salvador’s lead in adopting bitcoin as legal tender in 2022. This latest foray into the blockchain could prove far more lucrative for the state: The CAR token peaked at over $800 million in market capitalization, according to DEX Screener. That’s nearly a third of the nation’s 2023 GDP of $2.76 billion. 

As is always the case with…

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American states jockey in BTC reserve race 

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It was a few weeks back I wrote about new proposed bills in Texas and Oklahoma focused on crypto investments. They joined plenty of states with similar plans — i.e. Pennsylvania, New Hampshire and others. 

More recently, Caylin Young, a delegate in Maryland’s state legislature, proposed establishing a bitcoin reserve fund. There appears to be a hearing on this slated for March 6.

The bill would allow the state treasurer to invest funds obtained through enforcing certain gambling violations toward the crypto asset, according to a proposal synopsis. 

In Kentucky, House Bill 376…

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Crypto narratives as we await next market move 

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Bitcoin’s price is roughly flat week over week as investors eye the next potential crypto market mover.

As Wintermute OTC trader Jake O. put it: “After two consecutive weekends of heightened volatility, the past few sessions have been noticeably slow, with spot ranges tightening.” 

“This slowdown coincides with a lack of fresh crypto-specific narratives, as traders reassess positioning after last week’s liquidation event,” he added.

You want narratives?

Galaxy Digital CEO Mike Novogratz shared some views — albeit higher-level and less focused on day-to-day prices…

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LATEST: Ripple’s New Partnership Enables Payments Between Portugal and Brazil

Ripple is reshaping financial transactions in Europe by teaming up with Unicâmbio a leading Portuguese crypto exchange. This collaboration aims to enhance cross-border payments between Portugal and Brazil dramatically simplifying the process through Ripple Payments. The strategic move is designed to speed up transactions and reduce operational hindrances making international business more efficient than ever.

The integration of Ripple’s blockchain technology allows for near-instant settlements revolutionizing traditional payment systems. Ripple’s commitment to leveraging digital assets for optimized global remittances is further solidified through this partnership. Existing ties with major Brazilian financial players like Travelex Bank and Mercado Bitcoin underline Ripple’s impactful presence in the region promising a robust infrastructure for seamless financial exchanges.

Cassie Craddock Ripple’s Managing Director for the UK and Europe highlighted the significance of the partnership stating it marks a major milestone for Ripple’s expansion in Europe. The initiative not only bolsters Portugal’s burgeoning crypto ecosystem but also reinforces Ripple’s prowess in tokenizing real-world assets thus paving the way for a new era of digital finance connectivity between Europe and South America.

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Pendle announces plans to target Solana, Hyperliquid and Ton

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Decentralized finance today is still largely an ouroboros, as Vitalik once pointed out.

Protocol revenues and fees are real, and they prove the tech works. That is important! But these revenue flows are still largely the downstream result of speculative capital passing between traders in a circular, self-consuming cycle.

Protocols like Pendle observed these state of affairs, declined to pass judgment, then simply built the best possible product to capitalize on this ouroboros-like economy.

Want a fixed yield? Buy Pendle Principal Tokens (PT). Prefer to farm points with expectation of…

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LATEST: Japan’s Metaplanet Plans to Acquire 10,000 Bitcoin Before End of 2025

Metaplanet has unveiled its 2024 financial results, revealing an impressive $36 million unrealized gain from its substantial bitcoin holdings. The company, known for its crypto-forward stance, currently owns 1,761 BTC acquired at a cost of $137 million, showcasing its commitment to digital assets as a key financial strategy.

The firm has embraced innovative methods to boost bitcoin holdings per share. By leveraging secured and convertible bonds and using bitcoin as collateral, Metaplanet has established a solid foundation for future acquisitions. Additional strategies include issuing preference shares and warrants, all while reinvesting cash flow from operations. This multi-faceted approach underscores the company’s dedication to increasing its crypto treasury.

Looking ahead, Metaplanet aims to acquire 10,000 BTC by the end of 2025 and 21,000 BTC by the close of 2026. With plans to issue 21 million moving-strike warrants, the company is setting a strong precedent in the corporate world by embracing bitcoin as a cornerstone of its growth strategy.

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