El Salvador’s loan agreement with the IMF includes making Bitcoin payments voluntary and reducing government involvement in crypto projects. Recent developments include Coinbase’s legal ruling to delist wBTC, Exodus’s successful market debut, and new funding for Fraction AI. Metaplanet’s shares began trading on OTCQX, while Grayscale’s Bittensor Trust opened to accredited investors. World Liberty also made a significant crypto purchase.
El Salvador has reached a significant agreement with the International Monetary Fund (IMF), securing a loan of $1.4 billion. As part of this arrangement, the government has decided to make Bitcoin payments voluntary, thereby reducing the compulsory nature of cryptocurrency acceptance within its economy. Furthermore, El Salvador plans to scale back its direct involvement in Bitcoin-related initiatives, reflecting a shift towards regulatory flexibility.
In recent legal developments, a California court has ruled that cryptocurrency exchange Coinbase has the authority to delist Wrapped Bitcoin (wBTC). This decision came after BiT Global’s appeal for a temporary injunction was denied, illustrating the ongoing complexities in the regulatory landscape of cryptocurrency trading.
Exodus, a notable cryptocurrency wallet provider, saw a remarkable opening on the market, gaining over 37% on its first trading day. The asset reached a peak price of $64.50 during the session, indicating strong investor interest in the platform as it debuted publicly.
Fraction AI, a company at the intersection of cryptocurrency and artificial intelligence, secured $6 million in pre-seed financing. The funding round was led by prominent investment firms, Spartan Group and Symbolic Capital, highlighting the growing interest and investment in innovative crypto-related ventures.
Metaplanet has announced the commencement of its shares trading on the U.S. OTCQX market under the ticker symbol $MTPLF. This move provides an additional avenue for investors to engage with the company in the expanding cryptocurrency market.
Grayscale’s Bittensor Trust has now become available to accredited investors, broadening access to cryptocurrency investment strategies. This initiative could further enhance institutional participation in the crypto market.
In a notable trade, World Liberty utilised 250,000 USDC to acquire 231,726 units of ENA just hours ago, showcasing ongoing activity and interest within the cryptocurrency trading environment.
