Company Name: Lava

Founders: Shehzan Maredia

Date Founded: January 2022

Location of Headquarters: New York, USA (with some remote employees)

Amount of Bitcoin Held in Treasury: N/A

Number of Employees: 7

Website: https://www.lava.xyz/

Public or Private? Private

Shehzan Maredia wants to make custodying Bitcoin easy.

This is why he founded Lava, an app that he and his team have created that allows users to purchase bitcoin, transact with both bitcoin and stablecoins globally and now hold their bitcoin in self-custody without having to write down a seed phrase.

Maredia is one of a growing list of entrepreneurs in the Bitcoin space who believes that seed phrases — lists of 12 to 24 words used to…

Read more on BitcoinMagazine

Next week’s anticipated debut of spot ether (ETH) exchange-traded funds (ETFs) in the U.S. is set to propel Ethereum to unprecedented heights, with projections of surpassing $5,000, according to Bitwise. Initial fluctuations may arise as funds migrate from the $11 billion Grayscale Ethereum Trust, which is transitioning to an ETF. Nonetheless, Bitwise’s Chief Investment Officer, Matt Hougan, remains optimistic, foreseeing new peak prices by year-end, potentially even higher if market inflows exceed expectations.

Historical data supports this bullish outlook; following the introduction of Bitcoin spot ETFs in the U.S., Bitcoin’s value increased by 25% within months and over 110% since anticipation began the previous October. Ether ETFs are predicted to have an even more substantial impact due to Ethereum’s current zero percent inflation rate and the staking mechanism that keeps 28% of ETH out of circulation, ensuring robust demand meets limited supply.

The enthusiasm is echoed by Steno Research, predicting Ether could climb to at least $6,500 this year fueled by ETF inflows and other favorable factors. With a forecast of $15 billion in net inflows within the first 18 months, the launch of Ether ETFs marks a significant milestone that could reshape the cryptocurrency landscape.

Report

Crypto exchange OKX has reached a significant milestone by adding The Open Network (TON) to its OKX Wallet, marking its support for 100 blockchain networks. The OKX Wallet now stands as the most secure self-custody wallet, enabling users to manage, swap, and transfer assets across a multitude of chains. This integration highlights OKX’s dedication to its “onchain, any chain” philosophy and supports over 10,000 decentralized apps and 500,000 tokens.

Haider Rafique, OKX’s Chief Marketing Officer, emphasizes the ease of exploring diverse crypto ecosystems through native integrations, aimed at simplifying user experiences in accessing new networks and early incentives. The wallet’s expansive reach also includes over 400 decentralized exchanges.

Celebrating this 100-chain achievement, OKX Wallet will distribute 100,000 free NFTs titled ‘Centenary Milestone POAP’ to its Web3 community, underlining its ongoing commitment to enhancing accessibility and user engagement in the digital asset space.

Former U.S. President Donald Trump expressed strong support for the cryptocurrency industry, emphasizing its importance for the country’s global competitiveness in a recent interview. Trump highlighted the need for the U.S. to lead in the global crypto race, warning that failing to embrace crypto could cede ground to countries like China, which are advancing rapidly in the sector.

Despite previously holding skeptical views, Trump now views crypto as integral, noting its enduring presence and announcing plans for additional NFT releases after previous successful launches. These NFTs, styled as trading cards, offered unique perks like pieces of his suit or ties, reflecting Trump’s engagement with digital assets.

Trump praised the foundational strength of the U.S. crypto industry, citing recent developments such as his campaign accepting cryptocurrency donations, which totaled $3 million last quarter. He also pledged support for bitcoin miners and has garnered support from prominent figures in the crypto community, including Gemini’s Winklevoss twins, Ark Invest’s Cathie Woods, and Kraken’s Jesse Powell.

Interview