El Salvador enters a $1.4 billion loan deal with the IMF, making Bitcoin payments voluntary while scaling back government Bitcoin involvement. Meanwhile, Coinbase faces legal decisions over wBTC, and Exodus sees a strong market debut. Fraction AI raises $6 million in funding, Metaplanet begins trading on the OTCQX, and World Liberty conducts a noteworthy USDC transaction.
In a significant shift for its cryptocurrency policies, El Salvador has struck a $1.4 billion loan deal with the International Monetary Fund (IMF). The agreement entails that Bitcoin will now be accepted for payments on a voluntary basis. This marks a reversal from the government’s earlier enthusiastic stance on Bitcoin, suggesting less government control and involvement in Bitcoin-related initiatives moving forward.
Coins and blockchain projects are caught in a whirlwind of developments these days. Just recently, a California court ruled that Coinbase has the authority to delist wrapped Bitcoin (wBTC). This ruling came amid BiT Global’s attempts to secure a temporary injunction—an effort that was ultimately rejected, showcasing some tightening gears in the regulatory landscape.
Meanwhile, on the more optimistic side of crypto exchanges, the crypto wallet provider Exodus saw a surge, climbing more than 37% in its debut trading day. The wallet even touched a high of $64.50 during the session. This points to a strong investor interest despite the fluctuating market conditions surrounding cryptocurrencies.
In other news on the funding front, Fraction AI—an up-and-coming player in the crypto and AI sectors—has successfully secured $6 million during its Pre-Seed financing round. This round was led by reputable investors like Spartan Group and Symbolic Capital, signaling a potentially promising future for the company.
And for those interested in investments, Metaplanet is now making headlines as its shares begin trading on the U.S. OTCQX market using the ticker symbol $MTPLF. The entrance into this market could open new avenues for investors looking to diversify their portfolios.
Lastly, there’s movement in the digital asset sphere as World Liberty made headlines by using 250,000 USDC to purchase 231,726 ENA just hours ago, a reminder of how dynamic the market can be.
El Salvador is shifting its Bitcoin policy, allowing voluntary payments as part of an IMF deal. This move, alongside other developments in the crypto landscape—from court rulings affecting exchanges to significant fundraising efforts in the sector—highlights the ever-evolving nature of cryptocurrency and its place in the global economy. As countries and companies navigate the market’s unpredictability, the interest in digital assets continues to grow.
Original Source: www.panewslab.com
