“All I know is I’m good for my $80 billion.”
Business
Flushing Financial seeks to raise $70 million
Flushing Bank in New York City.
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Flushing Financial, a New York-based commercial real estate lender, is seeking to raise $70 million to shore up its capital, CNBC has learned.
The bank’s CEO, John Buran, has told potential investors that he intends to sell low-yielding bonds and loans backed by commercial real estate, including multifamily buildings, moves that would generate a loss and necessitate the sale of fresh stock, people with knowledge of the deal told CNBC.
Bankers working on the deal have yet to finalize pricing, but it will likely be between $15 to $15.50 per share, according to one of the people, below the $17.25 level the stock closed at on Thursday.
The bank declined to comment to CNBC earlier Thursday, but later issued a release confirming the equity sale.
Banks with commercial real estate exposure have struggled after the Federal Reserve hiked interest rates through 2023, leaving them with unrealized losses on their balance sheet. New York Community Bank was forced to raise capital earlier this year after its stock sank amid concerns over its portfolio of commercial loans.
Most of the U.S. banks under pressure are community banks with under $10 billion in assets, like Flushing, which had about $9.3 billion in assets as of September.
Now, with a rebound in bank stock prices this year and the start of a Fed easing cycle in September, investors expect more banks to raise capital in the coming months. Behind the scenes, regulators have been prodding banks with confidential orders to improve capital levels.
“The rate environment is still a challenge, but we’re controlling what we can control and setting the foundation for a better future,” Buran told analysts in October.
Shares of Flushing Financial have risen about 5% this year through Thursday, trailing the 18% rise in the KBW Regional Banking Index.
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CryptoCurrency
TRUMP, DOGE, BONK ETF approvals likely, but Cathie Wood won’t invest: Finance Redefined
ARK Invest’s Cathie Wood said she won’t buy the Trump token due to its lack of utility, as she remains focused on Bitcoin, Ether and Solana.
Business
Trump won’t deliver on maximum tariff pledges, says his former commerce secretary—merely making the threat is enough
EXCLUSIVE: Wilbur Ross, who served as commerce secretary in Trump’s first cabinet, said the president will not have to follow through on tariff threats. Read More
Rarely does a one-liner so perfectly capture the state of the moment. Here, you have Microsoft CEO Satya Nadella saying he’s “not in the details” about Stargate, the supposedly multi-hundred-billion AI infrastructure project driven by his marquee investment, OpenAI.
Nadella not being read in on the nebulous details of Stargate says a lot about how much Microsoft and OpenAI have drifted apart. Microsoft is mentioned in the Stargate press release since OpenAI’s models are still exclusive to Azure. But the most striking aspect of Stargate is not that the money isn’t there for it yet; it’s that OpenAI’s biggest backer has decided to not participate in what Sam Altman is calling “the most important project of this era.” As Nadella made clear on CNBC this week, he’s running his own, $80 billion AI infrastructure buildout and, going forward, OpenAI can get additional compute — with his blessing — elsewhere.
While it received fewer headlines this week, I found Nadella’s response to Elon Musk on X even more illuminating. In his response to Musk saying, “on the other hand, Satya definitely does have the money,” Nadella responded: “😂 And all this money is not about hyping AI, but is about building useful things for the real world!”
That post can only be interpreted as a dig at Altman. Nadella could have funded Stargate for OpenAI. He didn’t. What does he know that the rest of us don’t?
The splashy Stargate unveiling at the White House certainly accomplished its goal, which was clearly getting everyone to talk about big numbers. The headlines it generated prompted Mark Zuckerberg to make sure everyone ended the week knowing his data center will be even bigger than Stargate.
In a Friday post on his Facebook page, Zuckerberg said that Meta’s planned 2GW data center in Louisiana “is so large it would cover a significant part of Manhattan,” with a map view of the square footage overlaid on the city to send the point home.
From his post (my emphasis added): “We’ll bring online ~1GW of compute in ‘25 and we’ll end the year with more than 1.3 million GPUs. We’re planning to invest $60-65B in capex this year while also growing our AI teams significantly, and we have the capital to continue investing in the years ahead.”
I have no doubt that Altman, Masayoshi Son, and Larry Ellison will be able to raise the billions they need to lessen OpenAI’s dependence on Microsoft for compute. (The US government isn’t giving money to Stargate, which makes the optics of announcing it alongside Trump all the more bizarre.) Ultimately, this all points to the theme that is quickly coming to define 2025: Big Tech sees AI as the most existential technology of the coming era and will keep spending like hell to make sure OpenAI doesn’t completely run away with it.
AMA with spez
Few companies had as good of a 2024 as Reddit. Since going public last March, the company’s stock has soared 300 percent, giving the social network a valuation of $32 billion.
It’s an about-face from where Reddit was before going public, when its moderators were raging against its hurried platform changes and there was backlash to the company selling its data to Google and OpenAI.
With those controversies now seemingly in the rear-view mirror, Reddit is focused on growing its user base, staying profitable, and using AI to help people search its site more easily. I caught up with CEO Steve Huffman at CES a few weeks ago to hear his priorities for 2025, how he’s leading Reddit, his thoughts on the AI scaling debate, content moderation, and more…
The following interview has been edited for length and clarity:
Your IPO did very well. What have the last nine months or so been like for you personally?
We have a saying at Reddit that good numbers make good meetings. So we’ve had some good meetings.
Preparing to go public was intense. It’s telling the story over and over and over, which I enjoy doing, but it’s a lot of work. I think more than most new companies, we are in the public company rhythm already: close the quarter, do the audits, do the board meeting, earnings, and all of that. So it hasn’t been a major change for us from an operating point of view.
It’s a really exciting time for the new investors and employees. You won’t catch us complaining. What I keep telling the company is that everyone should be very proud of the work they’ve done and don’t take these moments for granted. I just tell them, look, enjoy the view. If you look at our history, there are lots of ups and downs. No doubt there are challenges in our future.
With your market cap where it is now, are you thinking of making swings you didn’t think you could make a year ago?
There are two classes of things that we would do. One is to execute the core strategy. We’ve got to hire. We’ve got to build. I think we’re very reasonable in terms of our investment size. The one sentence strategy for us is to grow the product and stay profitable.
What can you do with a high stock price? Maybe you can look at M&A that you wouldn’t otherwise. I’d say that’s not really our orientation right now because the acquisitions we’ve done over the last two years have been these 25-to-50-million-dollar deals. It’s kind of a sweet spot for us to get tech and teams. I’d say we’re always watching the market, but we’re not pursuing anything big or crazy right now because I like the core strategy. I think we can do what we want to do within our current capabilities.
What’s the main product focus for Reddit this year?
The first is the core of Reddit, which is community conversations. Everyone has a home on Reddit, but do you see that home in your first session? There’s a whole other dimension to our work, which is Reddit as an information source. Reddit has all of this incredible information. For the users who have a question that needs an answer, can we give them that answer? We just got into testing Reddit Answers. I’m finding that really helpful for searches about current events. A year from now, it’s a monetization product. It’s one of the few products where it kind of scratches every itch, so it’ll be a big focus.
What do you make of this debate about whether the AI industry has run out of data?
I think we’d have a different answer to that question literally every month. We want to have good relationships with other people in this space. We’re open for business.
At the same time, we want to maximize the value we get out of our own data. We have not experienced conflict between the two at this point. I love the [data licensing] relationships we have — the major ones being Google and OpenAI. At this point, we don’t need to make any particular partnership. I’d say they’re all nice to have but nothing is existential for us.
One of the challenges is that the AI companies don’t know what product they’re building. It’s not a bad thing. They are iterating themselves. ChatGPT itself, the central product in this conversation, was a demo. Then, a year later, it’s the most important piece of enterprise technology on Earth with questionable economics. That makes it very exciting. I don’t think any of these companies would be offended to hear me say that.
You were one of the first social media CEOs I saw to be very critical of TikTok. How does a US ban affect Reddit?
If you look at Reddit’s traffic graph over the last 19 years, you will not see the rise and fall of any particular platform. I think every content type should work on Reddit. Video on Reddit is largely camera-out — what I’m looking at — as opposed to camera-in, or who am I? That’s social media. I think the ban is the right thing to do for reasons I’ve mentioned that honestly have nothing to do with competition.
With Meta’s moderation changes, the broader conversation around social media feels like it’s changing right now.
For the last 10 years, people have been talking about whether speech is the problem, which is a crazy thought. You can’t have freedom without speech. I think that detour through questioning and relitigating core values of America, hopefully that era is coming to a close.
Are people playing politics? Of course, people always are. On the topic of moderation, we always just try to do things the right way, which, not coincidentally, are aligned with American values. It’s a Democratic platform. We believe very much in the power of people and the wisdom of crowds and voting processes. That is Reddit. So I’m glad to see a return to where we have been most of my life, which is an appreciation for free speech.
Elsewhere
- Competitors pounce on TikTok: With TikTok no longer available in US app stores and its in-app functionality technically constrained, everyone is doing their damndest to take advantage of the situation. Meta pre-announced its Capcut competitor and is trying to lure creators away with cash. Substack, Bluesky, and X are all making moves to encourage more video consumption. Meanwhile, President Trump says he’s OK with Elon Musk or Larry Ellison buying it. ByteDance is saying it wants to do a deal but seems increasingly backed into a corner. Ellison may have the guarantee that Oracle won’t be fined out of existence for violating the law right now, but Apple and Google have shown they are going to follow the letter of the law. With TikTok still not available to download in the US, its competitive threat to Meta, YouTube, and others decreases every day.
- Trump gets to work for Big Tech: Why are Zuckerberg and other CEOs bending the knee? Look no farther than the comments the president made at the World Economic Forum this week, where he trashed the EU’s Digital Markets and Services Acts as a form of “taxation.” This kind of push back is exactly what Meta and other US companies have been praying for. We’ll see if it works for them.
- More headlines: OpenAI released its AI agent called “Operator” for pro-tier subscribers… Musk told X employees that “user growth is stagnant, revenue is unimpressive, and we’re barely breaking even”…. Apple reorged again as it plays catch-up in AI… Google is putting another $1 billion into Google Cloud via Anthropic and acquired part of HTC’s Vive team to beef up its Android XR efforts (yes, get ready for the return of Glass)… Epic Games gave an update on its push to compete with Roblox… Meta made a rare investment in Databricks.
More links
- What led to the DOGE falling out between Vivek Ramaswamy and Elon Musk.
- A profile of DeepSeek, the Chinese firm that has a bunch of CEOs worried about how much they’re spending on models.
- Dan Shipper’s hands-on experience using OpenAI’s Operator agent.
- The “Humanity’s Last Exam” AI dataset.
- Brian Armstrong’s takeaways from Davos.
- A whistleblower is claiming Amazon’s $400 million deal for most of Covariant AI was a “reverse acquihire” designed to avoid antitrust scrutiny.
- Nvidia is the top tech company in Glassdoor’s latest list of the top places to work.
- The rise of the MAGA-bro podcast.
If you haven’t already, don’t forget to subscribe to The Verge, which includes unlimited access to Command Line, all of our reporting, and an improved ad experience on the web.
As always, I want to hear from you, especially if your data center is even bigger. Respond here, and I’ll get back to you, or ping me securely on Signal.
UnitedHealth has confirmed the ransomware attack on its Change Healthcare unit last February affected around 190 million people in America — nearly double previous estimates.
The U.S. health insurance giant confirmed the latest number to TechCrunch on Friday after the markets closed.
“Change Healthcare has determined the estimated total number of individuals impacted by the Change Healthcare cyberattack is approximately 190 million,” said Tyler Mason, a spokesperson for UnitedHealth Group in an email to TechCrunch. “The vast majority of those people have already been provided individual or substitute notice. The final number will be confirmed and filed with the Office for Civil Rights at a later date.”
UnitedHealth’s spokesperson said the company was “not aware of any misuse of individuals’ information as a result of this incident and has not seen electronic medical record databases appear in the data during the analysis.”
The February 2024 cyberattack is the largest breach of medical data in U.S. history and caused months of outages across the U.S. healthcare system. Change Healthcare, a health tech giant and UnitedHealth subsidiary, is one of the largest handlers of health, medical data, and patient records; it’s also one of the biggest processors of healthcare claims in the United States.
The data breach resulted in the theft of massive quantities of health and insurance-related information, some of which was published online by the hackers who claimed responsibility for the breach. Change Healthcare subsequently paid at least two ransoms to prevent further publication of the stolen files.
UnitedHealth previously put the number of affected individuals at around 100 million people when the company filed its preliminary analysis with the Office for Civil Rights, the unit under the U.S. Department of Health and Human Services that investigates data breaches.
In its data breach notice, Change Healthcare said that the cybercriminals stole names and addresses, dates of birth, phone numbers, email addresses, and government identity documents, which included Social Security numbers, driver’s license numbers, and passport numbers. The stolen health data also includes diagnoses, medications, test results, imaging, and care and treatment plans, as well as health insurance information. Change said the data also includes financial and banking information found in patient claims.
The breach was attributed to the ALPHV ransomware gang, a prolific Russian language cybercrime group. According to testimony by UnitedHealth Group’s CEO Andrew Witty to lawmakers last year, the hackers broke into Change’s systems using a stolen account credential, which was not protected with multi-factor authentication.
Ripple’s XRP token, one of the most popular cryptocurrencies in the world, has surged close to 600% in the last 3 months. With such a wild increase, it is important to address the following question: Who owns the most Ripple (XRP)?
You see, a token’s distribution has to be diverse, as concentration means that the majority holder of the token can heavily manipulate the price at any major buy or sell position. Understanding who holds the most XRP can be key for investors to make a long-term buying or selling decision about this popular cryptocurrency.
In this article, we’ll provide an overview of the number of XRP holders, the token holder distribution, and the possible impacts of this ownership in the future.
Overview of XRP holders
Ripple Labs, the creator of the XRP token, is reported to hold the largest share of the token’s supply, amounting to 46 billion XRP. Also, Chris Larsen, the co-founder of Ripple Labs, reportedly holds 5 billion XRP. Major cryptocurrency exchanges also hold a substantial amount of XRP, with Binance holding 1.83 billion tokens.
As of January 24, 2025, XRP is trading at approximately $3.16 per token. The cryptocurrency has experienced an intraday high of $3.18 and a low of $3.04. The 24-hour trading volume stands at $8.2 billion, contributing to a market capitalization of around $182 billion.
XRP 1D chart | Source: crypto.news
How many people own XRP?
Due to the anonymous nature of cryptocurrency transactions on the blockchain network, it is almost impossible to calculate the number of XRP holders. However, it is possible to track the multiple wallet addresses that hold this token.
According to the latest data collected by Bithomp, there are approximately 6,032,259 active XRP account holders who hold a total of 99,986,575,397 XRP. While these numbers provide an estimate of XRP holders, the actual number may be different, as many users may hold multiple wallets, and some wallets will also belong to many crypto exchanges.
Top XRP holders
According to the latest data from Coincarp, 41.04% of the XRP token supply is held by the top 10 wallets. Meanwhile, the top 20 holders own 50.30% of the total supply, and if we talk about the top 50 and top 100, they hold 63.71% and 71.74% of the total supply.
As for centralized crypto exchanges, Upbit is the leader among XRP owners, with 4.37% of the total supply, followed by Binance with 1.31%, Bitbank with 0.58%, and Korbit with 0.12%.
Distribution of XRP among holders
If we look at the distribution among XRP owners, we can see that wallets in the range of 1 million to 10 million XRP account for 6.42% of the total XRP supply. Following this, wallets between 100,000 to 1 million XRP hold 11.14%, and smaller XRP holders with 1000 to 100000 XRP own 7.53% of the total supply. Meanwhile, holders with 1000 or fewer XRP tokens make up a small percentage of the total XRP token supply, highlighting the dominance of larger accounts in this token.
Ripple Labs and XRP ownership
Founded in 2012, Ripple Labs is the creator of XRP, a company that focuses on real-time payment solutions. Its primary offering is known as RippleNet, a technology used by major institutions for cross-border payments. While Ripple Labs does hold the largest share of XRP tokens, amounting to 46 billion XRP tokens, most of it is locked in escrow with scheduled releases to manage token supply effectively.
This major ownership does promote the ecosystem’s growth, but it also points to the centralization of the token’s supply, which goes against the core principles of blockchain technology.
The impact of XRP ownership distribution
As mentioned above, a few entities hold a significant portion of the XRP token supply, with the top 20 holders collectively controlling 50.53% of the total supply. While it is common for many cryptocurrencies which are in their early stages to have a concentrated supply among a small number of holders, it is not good in the long run especially when it comes to price stability and market behaviour.
If major holders were to sell off their XRP holdings in a small amount of time it can drastically affect the token’s price, and more importantly, it can dent the project’s reputation forever. It is advisable to do your research before investing in any token and take a look at its tokenomics, total supply, and the convention of token holders as well.
[PRESS RELEASE – New York, United States, January 24th, 2025]
BullFWOG ($BFWOG), a newly launched meme coin, has announced its presale as part of a broader ecosystem incorporating gaming, AI integration, and multimedia initiatives.
BullFWOG Integrates Gaming, AI, and Meme culture
BullFWOG differentiates itself within the meme coin sector by integrating a suite of features currently under development. The BullFWOG ecosystem will include Play-to-Earn (P2E) and Player-vs-Player (PvP) mini-games, an interactive Spin the Wheel feature, and AI-powered functionalities. The gaming component will allow players to use $BFWOG tokens to participate in fast-paced tournaments, head-to-head battles, and other activities with the opportunity to earn rewards and win prizes.
Presale with Dynamic Pricing to Incentivize Early Participation
The meme coin sector has seen significant activity, with some projects gaining substantial traction due to community engagement and market interest. Early-stage participation in such projects often attracts attention from market participants looking for emerging trends within the cryptocurrency space. BullFWOG ($BFWOG), currently in its presale phase, has adopted a dynamic pricing model where the token price increases periodically. According to the team, this structure incentivizes early participation and is designed to support the token’s ecosystem development. The initial presale price of $BFWOG is set at 0.000020 SOL however it will not remain at this price for long before the first periodic increase. Early participation is advised.
BullFWOG Gaming Ecosystem
BullFWOG will serve as the central character in its gaming ecosystem, which will also feature familiar meme characters. The platform will include a variety of mini-games, where players can potentially earn $BFWOG tokens through gameplay and wager tokens in Player-vs-Player (PvP) battles. The ecosystem will also introduce fast-paced tournaments accommodating up to 1,000 players simultaneously. These tournaments will allow participants to enter with small wagers for a chance to compete for significant prize pools.
Additionally, players can accumulate $BFWOG tokens to get tickets for the Spin the Wheel feature, which offers opportunities to win rewards, including USDT and BTC prizes. According to the team, early backers participating in the presale will have the opportunity to obtain the first tickets to this feature.
AI Integration
The BullFWOG project plans to integrate artificial intelligence (AI) across multiple aspects of its ecosystem. According to the team, AI will be utilized in game development, chatbots, game dynamics, and user engagement. Additionally, AI-driven automation will be applied to manage social media activity, generating and posting content, such as viral memes, around the clock to enhance project visibility and audience reach.
The team highlights that leveraging AI in this manner aims to streamline marketing efforts, increase efficiency, and drive broader community awareness.
The Ribbit Song
As part of its broader ecosystem development and marketing efforts, BullFWOG has released an original meme-themed song titled Ribbit. The track and video were developed using AI and is now available on major streaming platforms, including Spotify, Apple Music, YouTube Music, and Deezer. In addition, the team has produced an accompanying music video, which can be viewed on YouTube.
This initiative highlights the project’s focus on multimedia engagement, aiming to enhance its visibility and community connection through creative efforts.
Click here to watch Ribbit on Youtube
About BullFWOG ($BFWOG)
The mission is to create a decentralised, community driven platform where users can enjoy engaging games, win crypto currency, earn rewards and participate in a thriving ecosystem. $BFWOG aims to be the go-to token for meme enthusiasts and gamers alike, fostering a strong sense of community and belonging with plenty of fun. Its also one of the first memes to have its own AI developed theme tune on all the big streaming platforms.
Users can join the presale here: https://bullfwog.com
X: @thebullfwog
Telegram: @bullfwogcoin
Website: https://bullfwog.com
Interested users can listen to the song on all major streaming services including:
Spotify – Apple Music – Amazon Music and more
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Wall Street’s securities watchdog has made it easier for banks to expand their cryptocurrency businesses by overturning a Joe Biden administration rule that made it prohibitively expensive to hold digital assets.
In one of the first pro-crypto moves of Donald Trump’s second presidency, the Securities and Exchange Commission late on Thursday reversed guidance known as SAB 121, which had called for institutions to treat digital tokens held for customers as liabilities on balance sheets.
The shift underscores expectations that Trump will take a far more welcoming approach towards the digital asset sector, undoing the more sceptical stance the SEC took during Biden’s administration.
Mainstream groups are taking more serious interest in crypto assets and technologies, with BlackRock chief Larry Fink this week calling on the SEC to “rapidly approve” the ability of companies to create tokens backed by stocks and bonds.
In a sign of Trump’s more supportive crypto strategy, the president on Thursday had also issued an executive order laying out his priorities regarding cryptocurrencies and calling for cabinet-level officials to report back several months from now with recommendations for regulatory and legislative proposals.
While Trump’s pick to lead the SEC, Paul Atkins, is still awaiting US Senate confirmation, acting chair Mark Uyeda and another Republican commissioner, Hester Peirce, have put the regulator on a more crypto-friendly track, forming a task force and dismantling SAB 121.
The SEC’s SAB 121 had “created a punitive framework that effectively prevented US banks from offering custody services for bitcoin and other cryptocurrencies”, said Mark Palmer, an equity research analyst at The Benchmark Company. “Traditional banks will now be able to offer crypto custody services without facing de facto penalties.”
Even before the SEC took action, big US banks were eagerly anticipating the ability to court crypto customers as Trump and his allies in the executive and legislative branches smoothed the road for digital assets.
“We do want to have the ability to offer spot crypto, and our expectation is that at some point, the regulations around crypto are going to allow us to do that,” Rick Wurster, chief executive at Charles Schwab, told analysts on a call this week.
The American Bankers Association and other industry lobbyists last year called on Biden to formally disapprove of the SEC guidance after measures to do so passed both houses of Congress in May 2024.
“This is a step in the right direction,” said Kevin Fromer, president of the Financial Services Forum, which represents the biggest banks.
Brian Daly, a lawyer at Akin Gump, noted custody services were “a predicate to everything” for financial institutions when offering crypto services to customers. The old rule “basically made it impossible for all the responsible banks and broker-dealers and financial intermediaries that we rely on to be crypto custodians”, Daly said.
The price of bitcoin rose more than 1.5 per cent on Friday to about $105,800, shy of its all-time high of roughly $109,000.
Crypto analyst BasicTrading has revealed a bullish pattern that has appeared for the Ethereum price, which hints at a rally to $4,000. This again provides some optimism concerning ETH, which has continued to underperform in this market cycle.
Ethereum Price Eyes $4,000 With This Bullish Pattern
In a TradingView post, BasicTrading revealed that a breakout to $4,000 looks to be on the horizon for the Ethereum price following the formation of a rising channel pattern. This bullish prediction came as the analyst noted that ETH had been retesting the previous all-time high resistance and was not able to break it.
Related Reading
However, this time, it could be different following the rising channel pattern. The analyst added that with the bullish break and retest and Ethereum price action, the breakout is about to happen. With Ethereum likely to break this psychological $4,000 resistance level soon enough, the analyst suggested that this could ultimately pave the way for ETH to reach and possibly surpass its current ATH of $4,800.
BasicTrading remarked that the sky is the limit for the Ethereum price if it manages to break above its current ATH. Interestingly, the crypto analyst raised the possibility of ETH rising to between $20,000 and $25,000 if it replicates its historical performance from previous bull cycles. This price range represents the upper resistance trendline of the rising channel.
However, the analyst stated that the Ethereum price must first achieve a clear breakout of its current ATH before a rally to as high as $25,000 can become a possibility. This bullish projection for ETH comes just days after crypto analyst Ali Martinez explained why it wasn’t time to give up on Ethereum despite its underperformance in this market cycle. Martinez mentioned that a decisive breakout above $4,000 could send ETH to $7,000.
ETH To Reach Five Digits In This Bull Run
Crypto analyst CrediBULL Crypto has also backed BasicTrading’s bullish outlook as he predicted that the Ethereum price would at least reach $10,000 in this market cycle. The analyst asserted that ETH will come back with a “vengeance” in the coming months. He added that $10,000 is the bare minimum once Ethereum breaks out. CrediBULL Crypto further opined that $20,000 is certainly not unreasonable by the end of this cycle.
Related Reading
Crypto analyst Mikybull Crypto also provided a bullish outlook for the Ethereum price, stating that ETH’s hated rally that will bring it to $12,000 is loading. He further remarked that the chart is giving market participants a glimpse and that patience is all it takes.
At the time of writing, the Ethereum price is trading at around $3,400, up over 5% in the last 24 hours, according to data from CoinMarketCap.
Featured image from iStock, chart from Tradingview.com
CryptoCurrency
Solana Price Will Hit $100 Again Next Month If This Happens. Why New PayFi Altcoin Is Turning Heads Worldwide
Solana (SOL) began a wild ride on the 15th January after a subpar performance in the weeks prior. It then shot up by more than 30% of its value before fluctuating its way back down to $244 just a week later where it now sits. This has left some crypto spectators pessimistic, believing the asset is now likely to trend down to $100. Meanwhile, a new PayFi project is showing promise in its presale, having raised over $5.8 million in its presale in record time. Remittix (RTX) is gaining traction as it tackles real world problems, solving inefficiencies in the high-value global payments market. So what key features are drawing DeFi enthusiasts to Remittix and how will Solana (SOL) perform in Q1 of 2025?
Solana (SOL) Price Plummets 6% In 24 Hours
After Solana’s rampage last week, the asset is now facing a harsh corrective price action. It has dropped by 6% in the last 24 hours alone, bringing its net monthly gain down to 26.5%, when it was over 40% previously. However, one glimmer of hope for holders is that Solana’s trading volume has jumped by 9% overnight, suggesting that investors are buying what they see as ‘the dip’. With this most recent loss, Solana’s (SOL) market cap has dropped below the significant $120 billion market cap mark. Solana (SOL) remains under fire for its relatively high level of inflation, as well as a long-term issue whereby network outages have plagued the platform. However, the outage problem has seen some improvements over the last year.
Remittix Sets the Bar High for Global Payments
With Remittix (RTX), banking inefficiencies are being addressed to change the way global payments are handled. Bringing together blockchain transparency and fiat reliability, the platform lets users change over 40 cryptocurrencies into fiat currency and transfer funds to bank accounts worldwide. Remittix offers 24-hour transaction times and flat fees, providing a modern alternative to legacy financial systems.
Created for businesses and individuals alike, Remittix (RTX) offers up the powerful RemittixPay API for easier payments. This tool gives businesses the ability to take payments originating from crypto but settle them in fiat. It supports over 30 fiat currencies and 50 cryptocurrency pairs allowing users to conduct cross border financial operations with unrivaled flexibility.
One standout feature of Remittix (RTX) is its commitment to financial inclusion. By operating 24/7 and without traditional banking infrastructure, the platform allows underbanked populations access to global financial systems. This fits with the project’s goal of democratizing financial access and reducing inequalities in the global economy.
Remittix Presale Shows Dominance, Surpassing $5.8 Million
As it powers through its presale, the $RTX token is priced at $0.0297 and has already raised over $5.8 million. The token underpins the entire Remittix ecosystem, powering governance, staking and rewards. Analysts predict an 800% surge in value by the presale’s conclusion with the potential for a 5,000% rally post-launch, positioning Remittix as a transformative player in the lucrative PayFi sector.
Discover the future of PayFi with Remittix by checking out their presale here:
Website: https://remittix.io/
Socials: https://linktr.ee/remittix
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
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