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Illinois Governor Slams Trump’s Crypto Backers While Signing New Rules

by admin August 19, 2025


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Illinois on Monday approved two new laws that give state regulators stronger tools to police crypto businesses and curb scams at cash-to-crypto kiosks.

The governor used the moment to criticize US President Donald Trump for recent federal moves that, according to his office, loosen protections for consumers.

State Gives Regulator New Powers

SB 1797 hands the Illinois Department of Financial and Professional Regulation authority to supervise digital-asset exchanges and related firms.

“While the Trump Administration is letting crypto bros write federal policy, Illinois is implementing common-sense protections for investors and consumers,” Governor JB Pritzker said.

While Trump lets crypto bros write federal policy, Illinois is implementing common-sense protections for investors and consumers.

Today, I’ve signed into law first-of-their-kind safeguards in the Midwest for cryptocurrency and other digital assets.

We won’t tolerate fraudsters.

— Governor JB Pritzker (@GovPritzker) August 18, 2025

According to lawmakers, the measure forces companies to hold enough money, put up cybersecurity and anti-fraud systems, make clear investment disclosures, and meet customer service standards similar to other financial services.

The bill passed the state Senate in April and will make it clearer who answers to state rules and who does not.

Kiosk Rules Aim To Curb Scams

The second law, SB 2319, targets cryptocurrency kiosks and ATMs. Reports have disclosed several concrete limits: operators must register with regulators, kiosks must offer full refunds to qualifying scam victims, transaction fees can’t exceed 18%, and new customers face a $2,500 daily limit.

Those specific numbers are meant to slow down bad actors and give people a clearer path if they’re cheated. State lawmakers and consumer advocates have said those steps are long overdue.

BTCUSD trading at $115,077 on the 24-hour chart: TradingView

A Political Line Drawn

Pritzker used his signing remarks to draw a contrast with Washington. Based on reports from the governor’s office, he accused the federal government of stepping back from protections after an April signing that overturned a revised IRS rule about who counts as a broker in decentralized finance.

“At a time when fraudsters continue to evolve and consumer protections are being eroded at the federal level, Illinois is sending a clear message that we won’t tolerate taking advantage of our people and their hard-earned assets,” ​Pritzker said.

He framed the state laws as a direct response to growing fraud and a federal posture he sees as friendlier to industry players than to everyday users.

Featured image from ABC News, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.





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GameFi Guides

This App Pays You Crypto to Share Your Poop Pics

by admin August 19, 2025



In brief

  • Doop, an app that pays users to take photos of their poop, is expected to launch its public beta this fall.
  • It will use an AI agent to analyze the photos to provide custom tips and challenges based on the results.
  • Further down the line, the dataset will be sold to organizations and companies in an attempt to further research.

Have you ever finished pooping and wished there was something you could do with the masterpiece you’ve just left in the loo? Well, an upcoming app will pay you to take a photo of it.

Doop is an AI-powered health app that will pay users in cryptocurrency for consistently uploading photos of their poop. These images will then be analyzed by an AI agent, which will set challenges for users to improve their gut health. The app is scheduled to release in public beta this fall, with a waitlist already open.

While the concept may sound hilarious or even ridiculous at first, Doop says that it has a serious goal behind the poop-tography—so much so that it has raised an undisclosed amount via an angel fundraising round, with participation from pseudonymous crypto investor Dingaling, the founder of meme coin launchpad Boop

“People don’t pay attention to poop, but it’s scientific gold because it’s a direct reflection of your diet, your healthstyle, lifestyle, and everything,” Joe Zhou, the founder of Doop, told Decrypt.

We’re not another health tracker 💩

Doop is a daily engagement engine that combines behavioral psychology, delightful design, and tokenized incentives to make self-care instinctive.

Think:

Health + Memes + Rewards → A habit you want to keep pic.twitter.com/Fr9uESvr96

— DoopApp (@DoopApp) August 11, 2025

He explained that most people only go to the doctor a couple of times a year, which creates infrequent snapshots of an individual’s health. Some may wear a fitness watch or smart ring that regularly tracks health data, but Doop aims to go a step further.

By tracking someone’s bowel movements every day for an extended period, Zhou believes that interesting trends, behaviors, and remedies will reveal themselves.

Users will be paid based on how regularly they provide images of their waste, complete health-based challenges set by the app, and if they improve their poop samples. Rewards will be paid out in the project’s Solana-based POOP token, which launched in July and currently sits at a nearly $6 million market cap. Doop will also upsell a premium tier of the app for more in-depth AI analysis.

Zhou told Decrypt that the project is based on several studies and research papers on the importance of healthy bowel movements. Those findings have been run through a custom AI agent, which utilizes an OpenAI and an in-house model, to provide custom tips on how to improve gut health.

However, it is worth noting that just an image of an individual’s faeces only reveals so much about the person.

“A photo alone cannot tell you if you have inflammation, infections, low digestive enzymes, blood in the stool, or an imbalance in your gut bacteria,” Nishtha Patel, gut expert and award-winning nutritionist, told Decrypt. “For this, you need a proper stool test where a swab or full sample is sent to a laboratory. This allows for a detailed look at your microbiome, digestive function, and gut health markers.”

That said, Patel explained that a photo can give some “useful clues” that can be investigated or acted upon. Zhou added that, in the distant future, there could be scope for an add-on that could inspect stool samples deeper than an image can.



“Apps that analyze stool images may be an interesting starting point, but they do not replace medical testing or professional advice,” Patel said. “It is also important to check how your personal data will be stored and used, especially if it will be shared or sold to other companies.”

Zhou told Decrypt that Doop will sell user data once it achieves approximately 500,000 monthly active users—although all data will be anonymized. Doop will look to sell the dataset to research institutions, insurance firms, or health supplement companies.

Data collected will include details like personal identifiers, like sex, height, and weight, as well as lifestyle choices and factors that impact your bowel movements. The user can choose to delete their data at any time they want, Zhou added.

The vision is that Doop could amass the largest and most detailed faecal dataset in the world, which could create a new frontier of health research. To this goal, the app plans to regularly release reports with interesting findings from its dataset, such as whether a specific city’s residents have worse gut health than another’s—possibly prompting an investigation into why.

But, for now, Doop’s methodology has yet to receive a stamp of approval from any gut health professionals. Zhou told Decrypt that the app is “in talks” with university professors to endorse the project’s methodology. Such endorsements are key as the app will give out health advice via its AI agent, incentivizing people to follow the tips via token payments.

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A weekly AI journey narrated by Gen, a generative AI model.





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401(k) Crypto Retirement plans ‘bigger’ than Bitcoin ETF approval: analyst
Crypto Trends

401(k) Crypto Retirement plans ‘bigger’ than Bitcoin ETF approval: analyst

by admin August 19, 2025



The inclusion of cryptocurrency in US retirement plans could mark a milestone for Bitcoin adoption and unlock billions of dollars in new capital, potentially pushing the asset above $200,000 by the end of 2025, according to André Dragosch, the head of European research at crypto asset manager Bitwise. 

President Donald Trump paved the way for cryptocurrency inclusion in US 401(k) retirement plans after signing an executive order on Aug. 7, granting Americans access to digital assets through their retirement plans.

The inclusion of crypto in 401(k) plans may be even more significant for the Bitcoin (BTC) price than the approval of the US spot Bitcoin exchange-traded funds (ETFs) in January 2024, Dragosch said.

This “bullish” development may be even “bigger than the US Bitcoin ETF approval itself,” signaling another $122 billion worth of new capital, assuming a modest 1% portfolio allocation, Dragosch told Cointelegraph during the Chain Reaction daily X spaces show on Monday, throwing in a price prediction for good measure:

“The official prediction remains $200,000 by the end of the year.”

“If you look at 401(K) and defined-contribution retirement plans in the US, they are huge,” said Dragosch, adding that 1% is a “relatively conservative” allocation estimate for the $12.2 trillion industry.

Is Bitcoin Headed for a 2025 Peak? Or is the 4-Year Cycle Dead? https://t.co/DckFjvkJIx

— Cointelegraph (@Cointelegraph) August 18, 2025

Including digital assets in retirement plans will enable 401(k) portfolio managers to invest in Bitcoin ETFs, which may push Bitcoin’s price to new all-time highs, flashing another optimistic signal for Bitwise’s $200,000 Bitcoin price target for the end of 2025.

Related: Bitcoin’s corporate boom raises ‘Fort Knox’ nationalization concerns

Fed policy, retirement plans seen as dual drivers

Based on Bitwise’s survey for financial advisers, most portfolio managers are more likely to recommend a 2.5% or 3% Bitcoin allocation for retirement plans, suggesting more significant inflows than the initial 1% allocation.

The first Bitcoin inflows from retirement plan managers may come as soon as this fall, coinciding with the first expected interest rate cut by the US Federal Reserve, which may drive Bitcoin to new highs, said Dragosch, adding:

“If you see further Fed rate cuts, there’s definitely a case for $200,000 by the end of the year.”

Markets are pricing in an 83% chance that the Fed will keep interest rates steady during the next Federal Open Market Committee meeting on Sept. 17, according to the latest estimates of the CME Group’s FedWatch tool.

Fed target interest rate probabilities. Source: CME Group’s FedWatch tool

Related: Analysts see Bitcoin buyer exhaustion as retail shifts to altcoins

Beyond improving monetary policy expectations, Bitcoin adoption may also be accelerated by the financial incentive of 401(k) plan providers to offer Bitcoin ETF exposure.

BlackRock, Fidelity and Vanguard are among the largest retirement plan providers in the US. While Vanguard has yet to “greenlight” crypto ETFs, “BlackRock and Fidelity have a huge economic incentive to include these Bitcoin ETFs in their standard plans,” said Dragosch.

US spot Bitcoin ETF overview by market share. Source: Dune 

BlackRock is the issuer of the largest Bitcoin ETF, the iShares Bitcoin Trust, with over $84 billion in assets under management, accounting for 57.5% of the total market share, while Fidelity’s ETF is the second-largest, holding  $22.4 billion, accounting for 15.3% of the total market share, Dune data shows.

Last Friday, US Securities and Exchange Commission Chair Paul Atkins confirmed that the regulatory agency is working with the Trump administration to enable retail investors’ retirement plan access to private equity, including crypto assets, but urged the necessity of “proper guardrails” around alternative investments.

Magazine: Crypto traders ‘fool themselves’ with price predictions — Peter Brandt





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August 19, 2025 0 comments
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Tesla Competitor Launches Crypto Strategy
Crypto Trends

Tesla Competitor Launches Crypto Strategy

by admin August 19, 2025


  • A 98% plunge
  • Tesla’s Bitcoin holdings  

Faraday Future (NASDAQ: FFAI), a zombie EV company, recently unveiled its own cryptocurrency strategy, joining a broader craze.

The company has announced the C10 Index, which is a basket of cryptocurrencies weighted by market cap. Bitcoin makes up almost half of the index. Ethereum (ETH) has a 24% share.

The company has already purchased $30 million worth of crypto, and it plans to increase this sum to as much as $1 billion.

A 98% plunge

Faraday Future, which was founded back in 2014, emerged as an early Tesla competitor.

In 2016, it introduced its flashy Batman-like FFZERO1 concept car that allegedly showcased its technology.

However, the company has been grappling with production delays as well as limited vehicle deliveries.

In 2021, it received a Wells notice from the U.S. Securities and Exchange Commission (SEC) related to its SPAC merger.

The stock has plunged by roughly 98% from its peak, which is a typical SPAC boom-and-bust story.

Tesla’s Bitcoin holdings  

In the meantime, Tesla remains the 11th largest Bitcoin treasury company with total holdings of 11,509 coins.

The company initially purchased $1.5 billion worth of BTC in February 2012, propelling the cryptocurrency’s bull run.



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Crypto
GameFi Guides

3 Crypto IPOs In The Pipeline Post Circle (CRLC) And Bullish (BLSH) Stellar Debut

by admin August 19, 2025


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The recent surge in interest and adoption of digital assets has catalyzed a shift in the financial landscape, leading to a wave of successful crypto initial public offerings (IPOs). With three notable debuts on the horizon, the trend is gaining traction, driven by the impressive performance of recent market entrants.

Crypto IPO Boom

In the past few months, Circle (CRCL), the issuer of the USDC stablecoin, and Bullish (BLSH), a crypto exchange backed by Peter Thiel, have both experienced significant demand, resulting in substantial increases in their stock prices. 

This resurgence follows the earlier successes of Coinbase (COIN) and Robinhood (HOOD), which have seen their shares spike nearly 500% and 60%, respectively, over the past year. 

In addition, the recent market rally which saw Bitcoin (BTC) reached a new record price beyond $124,000, has created a sense of urgency among crypto and fintech operators, as highlighted by a report from The Street, which noted a growing fear of missing out (FOMO) in the sector.

This renewed interest is further buoyed by favorable pro-crypto policies emerging from the US and President Donald Trump’s vision of making the country the “crypto capital of the world,” alongside rising prices. As a result, numerous firms are now vying for a spot on Wall Street.

Grayscale, Gemini, And BitGo 

One of the frontrunners in this wave is asset manager and crypto exchange-traded fund (ETF) issuer Grayscale. Known for its role in bringing crypto investments to mainstream finance through its Grayscale Bitcoin Trust and Grayscale Ethereum Trust, the firm manages over $33 billion in assets. 

With plans to capitalize on its robust management fee revenue, Grayscale has confidentially filed for an initial public offering, marking an important step in its ongoing journey in the digital asset space.

Next in line is Gemini, the cryptocurrency exchange founded by the Winklevoss twins. After a decade of attempting to launch a Bitcoin fund, the twins pivoted to establishing their own exchange, which has since become one of the largest in the market. 

With crypto demand on the rise, Gemini aims to leverage its strong market position by filing for an IPO, seeking to reflect the valuation it achieved during a funding round in November 2021, which was around $7.1 billion.

BitGo, a major player in crypto custody, is also preparing to join the ranks of firms seeking to go public. Custodying over $100 billion in assets, BitGo has positioned itself as a key service provider for exchanges, asset managers, and other businesses, offering a range of services including staking and trading. 

The firm’s substantial growth in assets suggests it is ready for a larger presence in the market, although further details will emerge once its confidential IPO filing becomes public.

The recent success of Circle and Bullish underscores the potential for crypto IPOs. Both companies saw their stock prices soar upon debut, with Bullish’s shares opening at $90—a 143% increase from its IPO price—and Circle’s stock launching at $69, reflecting a 168% rise from its initial offering of $31. 

The hourly chart shows CRLC’s valuation trending downwards. Source: CRCL on TradingView.com

However, it’s worth noting that Circle’s stock has since seen a significant decline, dropping more than 50% toward its current valuation of $147, from its peak of $298 reached in June. BLSH on the other hand trades at $64, representing a 45% drop from its $117 record. 

Featured image from DALL-E, chart from TradingView.com 

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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Figure Joins Crypto IPO Rush With Nasdaq Listing Bid Under FIGR

by admin August 19, 2025



Figure, the blockchain-powered lender founded by SoFi co-founder Mike Cagney, has filed with the Securities and Exchange Commission for an initial public offering as the latest entrant in a growing crypto IPO wave.

The company plans to list its Class A shares on the Nasdaq under the ticker FIGR, with Goldman Sachs, Jefferies, and BofA Securities serving as lead underwriters.

Figure’s path to public markets has been years in the making. In 2021, it launched a special purpose acquisition company, Figure Acquisition Corp. I, with a $250 million raise aimed at acquiring growth-stage businesses using Provenance as an efficiency layer, however in the end this SPAC did not bring Figure to market.

A friendlier regulatory stance under the Trump administration and buoyant crypto and stock markets have set the stage for a surge of digital asset firms tapping the equity markets, including crypto exchange Bullish which is the owner of CoinDesk.

The company last month merged with Figure Markets, a blockchain marketplace also launched by Cagney that issues YDLS, a yield-bearing stablecoin structured as a tokenized money market fund.

Financials disclosed in the S-1 show revenue up 22.4% in the first half of 2025 to $190.6 million, with net income of $29 million compared with a $13 million loss a year earlier.

According to the filing with the SEC, proceeds from the IPO will fund working capital and potential acquisitions, with no dividends planned.



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Tom Lee Climbs to #2 in Corporate Crypto Race. Is Saylor Safe?
NFT Gaming

Tom Lee Climbs to #2 in Corporate Crypto Race. Is Saylor Safe?

by admin August 19, 2025


  • Ethereum’s Saylor 
  • Is Saylor’s crown safe? 

Tom Lee’s BitMine Immersion Technology (BMNR) has now climbed to second spot on the list of the biggest cryptocurrency treasury companies. 

According to data provided by Arkham Intelligence, it now holds a staggering $6.6 billion worth of Ethereum (ETH). In fact, it now controls close to 1.3% of the altcoin’s entire circulating supply. 

Ethereum’s Saylor 

Lee, who used to be JPMorgan’s chief equity strategist, co-founded Fundstrat Global Advisors in 2014. He gained prominence back in 2017 by becoming one of the first Wall Street analysts to openly back Bitcoin. 

The famed “permabull” had frequent TV appearances, during which he would make ridiculously bullish predictions in 2017 and early 2018 that backfired during the brutal cryptocurrency bear market that ensued shortly after. 

After briefly pausing his Bitcoin price predictions, Lee then continued making frequent appearances on CNBC with bullish cryptocurrency calls. As reported by U.Today, Lee predicted that Bitcoin could soar to $250,000 this year. 

You Might Also Like

In June, however, Lee went from making permabullish predictions to spearheading a bold Ethereum treasury play. In June, it was announced that he had become the chairman of Bitmine, which used to specialize in providing immersive cooling solutions. 

Within a short span of time, Bitmine managed to attract some heavyweight investors, such as Peter Thiel, Bill Miller, and Cathie Wood. 

Earlier this month, Bitmine unveiled that it intended ot secure an additional $20 billion for future Ethereum (ETH) buys. 

Is Saylor’s crown safe? 

Despite surpassing some of the biggest Bitcoin treasury companies, Lee’s Bitmine is still miles away from Saylor. 

Strategy currently holds a whopping 629,376 Bitcoins that are worth a whopping $73.24 billion at current prices. 



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Sec Extends Review Of Nine Crypto Etf Filings Into October
Crypto Trends

SEC Extends Review of Nine Crypto ETF Filings Into October

by admin August 19, 2025



The US Securities and Exchange Commission (SEC) has pushed back decisions on a fresh round of cryptocurrency exchange-traded fund (ETF) proposals, leaving Bitcoin, Ethereum, Solana, and XRP funds waiting until October for a verdict.

In notices filed on August 18, the regulator extended its review period for multiple applications, including the Truth Social Bitcoin and Ethereum ETF, spot Solana ETFs from 21Shares and Bitwise, and the 21Shares Core XRP Trust. 

The new decision dates now fall on October 8 for the Truth Social ETF, October 16 for the Solana filings, and October 19 for the XRP trust.

The Truth Social Bitcoin and Ethereum ETF, first submitted on June 24, is structured as a commodity-based trust that directly holds Bitcoin and Ether. Shares of the fund would be backed by the underlying assets. 

Despite its branding under Donald Trump’s Truth Social platform, the product is designed to function in the same way as other spot Bitcoin and Ether ETFs already approved in the United States.

The Cboe BZX exchange is also seeking approval for the first spot Solana ETFs in the country, filed separately by 21Shares and Bitwise. These funds would give institutional and retail investors regulated access to Solana’s price movements. 

In addition, 21Shares has applied for a Core XRP Trust, a product designed to hold XRP and mirror its market value. The application, initially filed in February, was approaching its 180-day deadline before the SEC extended its review by another 60 days.

Beyond these products, the SEC also pushed back rulings on other crypto-linked filings, including CoinShares’ proposed spot Litecoin ETF and Grayscale’s application for a spot Dogecoin ETF. The regulator has delayed a total of nine applications, with most of the new deadlines set for October.

Bloomberg ETF analysts Eric Balchunas and James Seyffart said the delays appear to reflect the SEC’s broader strategy of developing a framework for digital asset ETFs rather than continuing with the current case-by-case approval system. 

Seyffart suggested that the commission is working on creating clear listing standards that would define which digital assets can be wrapped into ETFs and under what criteria.

The approach could provide greater consistency for the growing number of crypto ETF applications, but in the meantime, issuers and investors will have to wait longer for clarity.

Also Read: Grayscale Files with SEC for Dogecoin ETF Under Ticker GDOG



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August 19, 2025 0 comments
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Photo: Jaime Rogozinski
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Another Crypto IPO Hits the Market and Most People Still Have No Idea What Crypto Is

by admin August 19, 2025


Blockchain-based lender Figure Technology Solutions has officially filed for an initial public offering, marking another move by crypto-related firms seeking a slice of the trillion-dollar machine of public markets.

Both crypto bros and the banks that love them are already celebrating the move to go public, which they say marks a significant milestone in the evolving intersection of cryptocurrencies, blockchain technology, and mainstream finance.

Analysts posit that this signals a broader shift in how people previously unfamiliar with crypto are getting more comfortable investing in it.

“Crypto is becoming one of the big pillars of the IPO market,” IPOX CEO Josef Schuster told Reuters, referring to companies going public through blank-check mergers.

That thus far has gone against all logic provided by recent polls, which have shown at least 60% of people asked, and sometimes as many as 90%, have absolutely no idea what crypto is or how it works but would definitely not put their own money in it.

“It just seems questionable,” one respondent to this National Cryptocurrency Association poll said in July 2025.

Figure CEO Mike Cagney nodded to this proof-of-concept or no dice investor attitude in a 2021 interview.

“When we started back in 2018, I think our hope was that we could just be a blockchain-technology company and not have to build another lending business and a payments business and everything else,” Cagney said. “What became very clear to us early on is that the world wasn’t ready to lean into blockchain the way that we were, so we created these operating businesses.”

Why does it matter for crypto?

This IPO, however, may show a slight softening of that for crypto companies that actually appear to, or can prove, that they do something tangible.

Figure’s focus on practical applications—such as offering crypto-backed loans and using blockchain for transparent, faster underwriting —shows a little bit more transparently how blockchain can be integrated into core financial services.

Its website shows it uses Alphabet Inc.’s Google Gemini chatbot and tech from OpenAI Inc. to sift through loan applications.

This approach is reminiscent of how banks and fintech firms like SoFi and Robinhood (which went public in 2021 and 2019, respectively) are leveraging technology to reinvent traditional banking (Robinhood IPO).

The company’s use of artificial intelligence alongside its blockchain platform further underscores the increasing convergence of innovative technologies in finance, akin to PayPal’s recent investments in AI-driven payment solutions.

Unlike earlier crypto firms mired in regulatory controversies, Figure’s massive 22% jump in second half of the year results and its backing by prominent institutional investors like Apollo Global Management and Ribbit Capital may also lend credibility to blockchain’s role in mainstream finance.

This trend echoes similar moves by companies such as Coinbase, which raked in an eye-watering $85 billion valuation when it went public in 2021—which simultaneously backed crypto as a legitimate asset and made it more confusing, depending on who you asked.

What the hell is Figure anyway?

Co-founded by Cagney, who previously helped launch another major blockchain booster and fintech SoFi Technologies, Figure helps create loans.

The company says that thus far it has shelled out $16 billion in loans, including home equity lines of credit, crypto-backed loans, and digital asset exchanges, all of which bring the blockchain into consumer finance.

Shares are expected to trade on Nasdaq under the ticker symbol FIGR.

The New York City-based company, founded in 2018, is likely hoping to get a bite of the current landscape, where digital assets and blockchain technology are increasingly intersecting with mainstream finance.

That is still a controversial move.

According to its recent SEC filing, Figure posted a net income of $29.1 million on revenues of $43.8 million for the first half of 2025, a notable turnaround from a net loss of $15.6 million on $12.5 million in revenue during the same period a year earlier.

The company first announced its intention to go public earlier this month through a confidential filing. Prior funding rounds, including a 2021 venture-backed raise, valued the company at $3.2 billion.



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Volkswagen Singapore Lets Customers Pay In Crypto Via Fomo Pay
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Volkswagen Singapore Lets Customers Pay in Crypto via FOMO Pay

by admin August 18, 2025



Volkswagen Singapore is moving fast to transform car buying by letting customers pay with cryptocurrencies. The company partnered with FOMO Pay, a local firm, to allow customers to make payments using Bitcoin (BTC), Ethereum (ETH), and stablecoins like USDT and USDC. 

As per the release, a survey done recently shows that about one in four Singaporeans now own digital assets, highlighting a growing interest in digital currencies. Volkswagen Singapore is responding by offering more modern and flexible ways to pay.

The integration with FOMO Pay ensures secure and efficient transactions. Dr. Kurt Leitner, Managing Director of VGS, explained, “An increasing number of consumers today are digital natives. 

They expect speed and convenience across all touchpoints, including how they pay.” The partnership targets partial payments for new vehicles and aftersales services, with daily transaction limits of SGD 4,500 and a maximum of SGD 13,500 to prevent misuse.

How VGS Implements Crypto Payments

VGS handles digital assets transactions through the enterprise architecture of FOMO Pay. The gateway makes sure that there is alignment with local regulations and offers up-to-the-minute currency rates. This means customers can enjoy easy payments, while the business maintains a clear and open operation.

Furthermore, this integration supports Singapore’s goal of creating a digital economy. Rose Wang, Head of Digital Payments at FOMO Pay, noted, “As Singapore advances toward becoming a smart financial center, we believe digital assets will continue to play an important role in improving customer experience.”

However, VGS also emphasizes customer choice. FOMO Pay accepts hybrid and fiat payment methods for both online and offline purchases. The multi-channel strategy helps VGS be dedicated to providing a mobility experience.

Volkswagen Singapore is making it easier for customers to pay with digital currencies. This shift is changing the way people engage with premium brands. By embracing cryptocurrency, VGS is not only offering greater convenience and security but also adding flexibility to the mix, all while modernizing its payment systems for a fresh, contemporary experience.

Also Read: Solana Expands to Dubai With First Official Hub



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