CoinQue Chronicles
Web3 Market News At a Glance:
Weekly round-up of the most exciting pieces of news from the ??cryptocurrency??, ??blockchain??, and ??Web 3.0?? space ??
Bitcoin ETFs Attract More Than $5 Billion in Net Inflows Since Market Debut
The financial landscape of Bitcoin ETFs saw considerable inflows on Feb. 20, as reflected in recent data from BitMEX, with an influx of $136 million, the equivalent of 2,606 BTC. BlackRock IBIT is at the helm, with an additional inflow of $154 million, raising BlackRock IBIT’s total net inflows to an impressive $5.5 billion. Read more?
Circle Ends USDC Support on Tron Network
Circle, the issuer of USDC, has announced the discontinuation of support for its stablecoin on the TRON blockchain. The company will cease minting USDC on TRON and has advised users to transfer their funds to other platforms that support the stablecoin or redeem them for fiat currency. Read more?
South Africa Eyes Stablecoins and Blockchain for Digital Payments
The annual budget of South Africa revealed its treasury’s plan to promote the adoption of digital payments, which includes analyzing stablecoins and blockchain to “improve the lives and livelihoods of marginalized groups.” The country's 2024 budget review highlighted the need for structural reforms and a focus on improving public financial management. Read more?
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South Korean Province Collects $4.6M in Back Taxes Using Crypto Tracking System
South Korean province of Gyeonggi is utilizing a clever new system to catch tax dodgers hiding their wealth in cryptocurrency. The innovative approach has already recovered a total of $4.6 million in owed taxes from just one group of delinquents. Read more?
Tron Founder Allegedly Pumps $161 Million in Ether
A wallet with suspected ties to Tron founder Justin Sun gobbled up a staggering $161 million worth of Ether on February 19th. Binance and several decentralized exchanges (DEXs) were used to carry out the transaction. The wallet, identified by the partial address “TWGHNc,” is known for carrying out hefty transactions in recent times. Read more?
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