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Crypto Trends

Safe Establishes New Development Firm to Attract Institutions and Tackle Crypto’s ‘Cyber Warfare’ Era

by admin June 11, 2025



Safe, the popular multiparty crypto wallet previously called Gnosis Safe, has launched a new development unit, Safe Labs, in a move aimed at consolidating its operations and sharpening its product roadmap after it was targeted in February’s $1.4 billion ByBit hack — the largest crypto heist to date.

The new entity will serve as the core development arm of Safe, which until now had outsourced technical work to a separate development firm, a structure commonly used across the crypto industry, Safe Labs Chief Executive Rahul Rumalla said on Wednesday. Safe Labs will operate directly under the umbrella of the Safe Foundation, a nonprofit organization.

In an interview with CoinDesk, Rumalla said the transition reflects a broader strategy shift toward building products that can meet both the ideological standards of cypherpunk culture and the practical demands of enterprise clients.

“This framework that we are forced to operate in — it actually forces you to compromise one over the other: If you want more security, you have to compromise on convenience, and if you want more convenience, you compromise on security,” Rumalla said.

“We at Safe Labs, we step back and we reject this framework. We don’t want to operate in this model where we have to compromise one over the other.”

Post-Hack Pivot

According to Rumalla, the ByBit hack was a “catalyst” for the creation of Safe Labs.

While Safe’s core smart contracts remained uncompromised, its user-facing web application was infiltrated with malicious code by North Korea’s Lazarus Group. That attack enabled the hackers to trick ByBit’s CEO into signing off on a transaction that rerouted funds into their control.

“What we saw with an attack like this is that our core values were used against us,” Rumalla said. “Anonymity, privacy, self-custody, transparency, open source — these were used against us.”

Despite the breach, Rumalla said user confidence in the Safe platform remained strong. The application saw “practically no churn” in the aftermath and continues to process 10% of all transaction volume across Ethereum Virtual Machine (EVM)-compatible networks.

“We’re not defending against cyberattacks,” Rumalla said. “We are defending cyber warfare, and that requires a mindset shift — not just at the project level, not at the company level, but as Ethereum or even crypto as a whole.”

From Ideals to Infrastructure

The move to formalize internal development echoes similar shifts by other major protocols, including Morpho and Polygon, which have both recently made moves to streamline decision-making and improve accountability with more traditional organizational structures.

In parallel, Safe Labs is also refocusing on product design. The team is currently working on a “V2” version of its wallet, which Rumalla described as more “opinionated” — meaning bolder product direction, particularly for institutional users.

“What we’re going to be launching and testing in the future is a subscription plan, essentially, that’s called Safe Pro — or Safe for enterprises, Safe for institutions — very much around that realm,” he said. “We’re going to basically package this opinionated product that’s more for the user segments that have higher security needs and more customization appetite.”

“We need to operate at startup speed,” Rumalla added. “That in itself is the premise of why we need to operate as a separate, independent entity. We need to align where we need to align, which is on the mission, but we need to be a bit more independent in terms of how we execute.”

With more than $60 billion in total value locked and over $1 trillion in historical transaction volume, according to Rumalla, Safe remains one of crypto’s most battle-tested self-custody platforms. The team, now roughly 40 strong and based in Berlin, is betting that its next chapter — one that embraces opinionated product design without sacrificing its open-source ethos — will help define how wallets look in a world heading toward a trillion-dollar on-chain economy.

“Our mission is simple: making self custody easy and secure,” Rumalla said. “That’s a win for everybody.”



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June 11, 2025 0 comments
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GameFi Guides

Forget Bitcoin: Publicly Traded Firm Building $500 Million Crypto Treasury With FET

by admin June 11, 2025



In brief

  • Interactive Strength is allocating up to $500 million to purchase Fetch.ai (FET) tokens for its crypto treasury.
  • The company plans to use the tokens to support AI-powered fitness products.
  • CEO Trent Ward said the decision reflects utility over speculation, and a shift away from the popular Bitcoin-focused treasury model.

As companies and governments consider adding Bitcoin to their treasuries, Austin, Texas-based Interactive Strength is taking a different route—committing up to $500 million to buy Fetch.ai (FET) tokens as part of a targeted cryptocurrency strategy.

Rather than following the trend of holding Bitcoin as a hedge or brand signal, Interactive Strength is tying its crypto strategy directly to its AI integration roadmap, announcing the close of an initial $55 million investment by private equity firm ATW Partners and crypto market maker DWF Labs that will be used to acquire FET.

“This is a $500 million targeted allocation to open market purchases of the FET token,” Interactive Strength co-founder and CEO Trent Ward told Decrypt in an interview. “None of that capital is going to other tokens.”



Founded in 2017, Interactive Strength produces fitness equipment and digital training products, including vertical climbing machines and connected fitness mirrors. Interactive Strength became publicly traded in 2023, when its shares (TRNR) began trading on the Nasdaq.

Fetch.ai is a blockchain-based platform that develops decentralized AI tools, and is a founding member of the Artificial Superintelligence Alliance, alongside SingularityNET and Ocean Protocol. FET serves as the native token supporting the alliance’s shared AI infrastructure.

Ward said the choice of FET, rather than a more widely held asset such as Bitcoin, reflected the company’s plan to incorporate Fetch.ai’s technology into its product offerings.

“We think there’s real growth, value, and utility in the token,” he said. “We expect to develop products using Fetch’s technology, so we need the token for its utility on the platform. Buying it early and involving investors allows us to reduce costs and execute more effectively.”

Ward said the company will acquire FET tokens in stages, beginning with $55 million from the initial funding. Interactive Strength will release additional stock allotments over time for direct market purchases.

A former investment banker and hedge fund professional, Ward said that improving legal and regulatory conditions in the United States, following the 2024 presidential election, made the crypto treasury strategy more viable from a compliance perspective.

“Our lawyers are now much more relaxed than when we first started discussing this,” he said, acknowledging the growing corporate fascination with cryptocurrency. “The market appears to support the notion that there is a premium on equity value associated with crypto treasury strategies.”

For fudders and clarity: This is not an OTC deal it is a market purchase by the company and Fetch foundation does not have any influence in buying of $fet. For https://t.co/zoP7E8A5GX it is important that our technology is used and for that companies will need $fet. This is a… https://t.co/0hEVhn70GJ

— Humayun (@HMsheikh4) June 11, 2025

Ward said a meeting with Fetch AI CEO Humayun Sheikh and recent acquisitions helped inform the decision to launch a FET token treasury.

“Meeting with Humayun and the Fetch team clarified how their technology could enhance our offerings,” he said. “Meanwhile, the German company we’re acquiring, SportsTech, was already using AI in its products. Seeing those tools in action demonstrated their value and helped us connect the dots—this was the right move for us.”

Edited by Andrew Hayward

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June 11, 2025 0 comments
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Gaming Gear

Netgear just bought a cybersecurity firm to kill off VPNs and take over the SME networking world

by admin June 11, 2025



  • Netgear’s Exium acquisition targets SMEs with powerful all-in-one security
  • Traditional VPNs may vanish as Netgear pushes SASE into its next-gen business offering
  • Netgear’s hardware gets smarter, bundling security directly into routers for out-of-the-box protection

Netgear has entered the business cybersecurity market by acquiring Exium, a company specializing in secure cloud-based networking.

The company says the move is part of Netgear’s long-term strategy to serve small and medium-sized enterprises (SMEs) with simplified, high-performance connectivity solutions.

By integrating Exium’s technology into its portfolio, Netgear aims to go beyond traditional VPNs and deliver a modern Secure Access Service Edge (SASE) framework that addresses both networking and security needs.


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Making enterprise-grade security manageable for small IT teams

With this step, the company believes it can offer not only a strong business VPN alternative but also a comprehensive, user-friendly platform.

The integration of Exium’s platform will enable Netgear to develop an all-in-one system that combines wired and wireless networking with built-in security features.

“AI has changed the threat landscape for small and medium enterprises as well as larger businesses, but the solutions for SMEs are often too difficult to implement or need to be cobbled onto the network and managed separately,” said Pramod Badjate, President and GM of Netgear for Business.

“By offering the Exium SASE solution with the goal of integrating it into our Insight cloud management platform, we’ll be able to bring our customers a seamless, single-pane-of-glass solution that is easily deployed and managed by small IT teams or MSPs.”

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The acquisition also sets the stage for improved hardware that supports advanced security functions right out of the box.

With its sights set on becoming a top provider of VPN routers for business users, Netgear now aims to deliver networking devices that are secure by design.

The company’s established expertise in wireless hardware, combined with Exium’s cybersecurity layer, means SMEs could soon benefit from ready-to-use routers and switches offering both performance and protection.

At the core of Exium’s platform is a zero-trust architecture, which aligns with Netgear’s plan to deliver a leading Zero Trust Network Access (ZTNA) solution for its customer base.

“Exium was built from the ground up as a cybersecurity solution to help protect small and medium enterprises that lack a comprehensive solution for combatting cybersecurity threats,” said Farooq Khan, CEO of Exium.

“We share a similar vision with Netgear and are excited to be joining the team to build a fully integrated network and security solution specially tailored to serve the needs of these customers.”

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June 11, 2025 0 comments
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Europe’s first Bitcoin Treasury firm plans to raise $340m to buy more BTC
NFT Gaming

Europe’s first Bitcoin Treasury firm plans to raise $340m to buy more BTC

by admin June 9, 2025



Adam Back-supported Bitcoin Treasury firm, Blockchain Group, wants to raise $340 million through ‘ATM-type’ shares as a way to raise capital with the intention of boosting its BTC holdings.

In a recent press release, the Paris-based company declared that it will be partnering with asset manager TOBAM to raise capital to boost its Bitcoin (BTC) Treasury. By allowing TOBAM to subscribe to ordinary shares issued by Blockchain Group, the firm hopes to raise a total revenue of $340 million which they will use to boost its BTC holdings.

“The Program allows TOBAM, on a daily basis, to subscribe to ordinary shares of the Company by submitting a subscription request after market close. Each request is subject to pricing and volume limits based on the market conditions,” wrote Blockchain Group.

At press time, BTC has gone up by nearly 2% and is currently trading at $107,126. In the past week, BTC has gone up nearly 2.5%. If Blockchain Group does manage to raise $340 million, then it stands a chance to add more than 3171.46 BTC to its Bitcoin Treasury. The Blockchain Group currently owns a total of 1,471 BTC ($157.5 million), including 624 BTC acquired in a recent purchase and 847 BTC held previously.

The program follows a structure called “At The Market” pricing, which is similar to the a model usually affiliated with U.S. companies. Instead of releasing all the shares into the market, Blockchain Group intends to sell shares directly at market prices, in tranches, and only under certain limits.

Price chart for Bitcoin in the past few hours, June 9, 2025 | Source: crypto.news

This means that TOBAM can subscribe to ordinary shares belonging to Blockchain Group on a daily basis, allowing them to submit a request after the market closes.

According to the press release, the company plans to sell the share price at a limit that’s either higher than the stock market closing price or at the volume weighted average price of the trading day before TOBAM’s request.

Based on the company’s shareholder general meeting results, the firm has agreed to issue a maximum nominal amount of €500 million ($570 million) in nominal value. Although, the increase will only take place if it is authorized by the Blockchain Group’s board.

Blockchain Group has adopted a Bitcoin accumulation strategy since November 2024, becoming the first European company to start a Bitcoin Treasury.

Since Bitcoin reached a new all-time high in May, many Bitcoin-focused corporations have been accelerating their Bitcoin acquisition strategy. Most recently, Metaplanet vowed to raise its Bitcoin Treasury to hold 210,000 BTC by 2027.



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June 9, 2025 0 comments
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Crypto Trends

Bitcoin (BTC) Stays Firm as Trump-Musk Feud Escalates Over 2025 Budget Politics

by admin June 7, 2025



Bitcoin

held firm above $105,000 on Saturday despite an unusually combative and personal escalation in the Trump-Musk feud that could rattle traditional markets next week.

On Saturday, in a phone interview with NBC News, President Trump warned that there would be “serious consequences” if Elon Musk financially backed Democratic candidates running against Republicans who support the GOP’s budget bill. “If he does, he’ll have to pay the consequences for that,” Trump said, adding later, “He’ll have to pay very serious consequences if he does that.”

Trump, who has often boasted of past support from Musk, firmly dismissed the idea of mending ties. “No,” he said when asked whether he wished to repair the relationship. “I would assume so, yeah,” he added when asked if the rift was permanent.

Despite the intensifying feud between two of the most influential figures in U.S. politics and technology, Bitcoin remained unfazed. The cryptocurrency held onto earlier gains and continues to trade near weekly highs. The market’s composure suggests that traders may increasingly view BTC as a hedge against institutional dysfunction, or at least as an asset insulated from the partisan fallout that tends to impact equities more directly.

Technical Analysis Highlights

  • BTC traded in a 24-hour range of $1,162 (1.13%), from a low of $104,624 to a high of $105,786, according to CoinDesk Research’s technical analysis model.
  • Strong support formed at $104,800, where above-average volume confirmed buyer interest.
  • Resistance at $105,200 was broken and has since flipped into a short-term support zone.
  • Volume peaked at 378 BTC during key breakout moments, especially around 13:43–13:46 and 13:53.
  • A short consolidation occurred between $104,300–$104,600 before the final surge to near highs.
  • An ascending price channel remains intact, showing bullish structure despite intermittent pullbacks.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.



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June 7, 2025 0 comments
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GameFi Guides

Binance Exec Tigran Gambaryan Leaves Firm, Months After Nigerian Hostage Crisis

by admin June 7, 2025



In brief

  • Binance investigtions lead Tigran Gambaryan left the company on Friday to explore other job opportunities.
  • He is looking for opportunities in the private or public sector, continuing his work in technology compliance.
  • Nigerian authorities detained Gambaryan for eight months in 2024.

Binance Head of Financial Crime Compliance Tigran Gambaryan is departing the crypto exchange where he spent four years investigating illicit finance and cybercrimes, he said Friday in a Linkedin post, just a few months after escaping a harrowing eight-month-long detention in Nigeria. 

In the social media post, Gambaryan, a former IRS agent, shared that he is on the lookout for “new challenges.” He intends to pursue job opportunities in the public sector or at a mission-driven institution in the private sector, according to the post. 

“I’ve done all that I can at Binance, and need to refocus my time and efforts towards new challenges,” Gambaryan wrote Friday.

The executive did not immediately respond to Decrypt’s request for additional comment on his departure.  

Gambaryan joined Binance in 2021, building a team of roughly 100 former prosecutors, federal agents and other law enforcement experts to “align Binance more closely with U.S. and international enforcement standards,” he said. Under his leadership, the trading platform responded to more than 57,000 law enforcement requests. 

Gambryan’s departure marks the latest of several leadership changes at the world’s largest crypto exchange by daily trading volumes. 



In  2023, Binance founder and former CEO Changpeng “CZ” Zhao stepped down from his post as part of a plea deal with U.S. authorities over anti-money laundering law violations and international sanctions breaches, among other legal skirmishes. Around that time, several other executives split from the trading platform, including former chief strategy officer Patrick Hillmann and former senior vice president of compliance Steven Christie. 

In total, at least 16 Binance executives have parted ways with the global trading firm over the past two years. 

Their departures came ahead of the appointment of CZ’s successor—Binance CEO Richard Teng’s appointment. Under Teng, a former regulator, the crypto exchange has cultivated a more buttoned-up, corporate culture, marking a total about-face from its shadowy roots.  

Gambaryan graced national and international headlines in 2024, when Nigerian law enforcement detained him on a series of allegations related to his role at Binance. However, the executive secured his release from prison last fall, after his health deteriorated during his confinement.

He has since represented Binance at several crypto conferences, recounting his ordeal in Nigeria. 

“There’s a growing need for trusted, experienced operators, people who understand how to translate between technology, enforcement, and compliance, “Gambaryan said in his post. “That’s where I intend to continue making a difference.”

Edited by James Rubin

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June 7, 2025 0 comments
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Cookie price pulls back into major support zone but bullish structure remains intact
GameFi Guides

Cookie crypto price crumbling? Support holding firm at key level

by admin June 7, 2025



Cookie is currently retesting a pivotal support level with strong technical confluence. Despite declining volume, the bullish structure remains intact—raising the odds of a potential rally toward $0.30.

Cookie (COOKIE) is trading at a decisive technical level that could determine its next major move. What was once firm resistance has now flipped into support, providing a potential foundation for bullish continuation. This zone aligns with both the 200 moving average and the 0.618 Fibonacci retracement, making it a critical test of market strength.

Key technical points:

  • Support Flip: Previous resistance has now flipped to support, showing early signs of validation.
    Technical Confluence: The 200 moving average and the 0.618 Fibonacci level align with this support zone.
  • Bullish Market Structure: Cookie maintains a series of higher highs and higher lows.
  • Volume Decline: The recent pullback came on decreasing volume, indicating a potential correction rather than trend reversal.
  • Upside Target: A successful reversal could see price reach high time frame resistance at $0.30.

CookieUSDT (4H) Chart, Source: TradingView

Price action on Cookie is now testing a former resistance zone that had repeatedly capped upward moves. Following the latest pullback, this area has turned into support, creating a compelling case for a bullish retest. The fact that it coincides with both the 200 MA and the 0.618 Fibonacci level adds significant technical weight.

Importantly, the overall trend remains bullish. Despite recent corrective movement, Cookie has maintained its pattern of higher highs and higher lows. The pullback itself occurred on declining volume, behavior that often characterizes healthy retracements within broader uptrends. This suggests the current move is more likely a pause than a breakdown.

For the bullish scenario to unfold, a rise in volume will be crucial. Volume confirmation would indicate renewed demand and could serve as the catalyst for a breakout. The next major target sits at $0.30, a high time frame resistance level that may act as a magnet if momentum builds.

What to expect in the coming price action

If Cookie holds this key support and volume begins to rise, it sets the stage for a push toward $0.30. Traders should monitor volume closely, its behavior will likely determine the strength of any upside move.



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June 7, 2025 0 comments
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NFT Gaming

USDC Issuer Circle Prices NYSE IPO at $31 Per Share, Valuing Stablecoin Firm at $6.2 Billion

by admin June 4, 2025



Circle priced its initial public offering (IPO) on Wednesday at $31 per share, above the expected range of $24 to $26.

The company sold around 34 million shares in the offering for a valuation of $1.1 billion. Bloomberg pegs the total amount raised in the IPO at $6.2 billion.

Circle initially planned to offer just 24 million Class A shares, with 9.6 million coming from the firm itself and the remainder from early stakeholders. But as demand soared, the offering ballooned to more than 10 times the original amount.

The stablecoin issuer will begin trading on Thursday on the New York Stock Exchange (NYSE) under the ticker “CRCL.”

This initial public offering (IPO) marks the second major crypto company to go public under the Trump administration, after eToro listed last month.

The stablecoin issuer’s road to the public markets has been long. It first attempted to go public in 2021 through a special purpose acquisition company (SPAC). That deal eventually collapsed, though Circle never stopped pursuing its IPO ambitions.

Circle issues USDC, the second-largest U.S. dollar-pegged stablecoin in circulation, which has become a backbone for many crypto trading pairs and decentralized finance applications. Going public gives the company access to deeper capital markets and increased regulatory scrutiny, potentially helping shore up investor confidence in the wake of recent volatility in crypto markets.

The firm’s entrance to the NYSE comes amid renewed interest in digital assets and as U.S. legislators weigh clearer rules for stablecoins and their issuers, potentially giving publicly traded issuers an edge.

Sen. Bill Hagerty, the main sponsor of the Senate’s stablecoin bill, said on Bloomberg earlier Wednesday that the Senate needs to pass that piece of legislation as soon as possible, arguing that it would protect consumers while keeping more issuers and other companies in the U.S.

“We have broad agreement, with respect to the content of this stablecoin legislation,” he said. “This is going to, I think, take us into the 21st century, in terms of upgrading our payment systems … Because every one of these stablecoins will be backed up dollar for dollar with U.S. treasuries.”

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

UPDATE (June 4, 2025, 22:18 UTC): Adds Hagerty comment.
UPDATE (June 4, 2025, 23:07 UTC): Updates headline and story throughout to clarify that Circle will start trading tomorrow.



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June 4, 2025 0 comments
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Chinese Firm Files $300M XRP Plan with SEC. What’s Going On?
Crypto Trends

Chinese Firm Files $300M XRP Plan with SEC. What’s Going On?

by admin June 4, 2025


Webus International Limited, a company that offers AI-driven mobility solutions, has filed Form 6-K with the U.S. Securities and Exchange Commission (SEC) to inform the regulator about its intention to set up an XRP treasury. 

As reported by U.Today, the Hangzhou-based firm initially announced the plan last week.

On Monday, the firm signed an agreement with US-based investment advisor Samara Alpha Management that has set the framework for its future crypto operations. 

The initiative is meant to support instant international payments for its chauffeur services as well as booking programs. This essentially means that the XRP token will be integrated into the company’s business model. 

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The plan has now been formalized with the SEC, but it is worth noting that no final decision has been made. 

Webus International, which provides AI-powered mobility solutions across various international destinations, went public on the Nasdaq in February, raising a total of $8 million during its IPO. 

As reported by U.Today, publicly traded sustainable energy company VivoPower announced its plan to build a $121 million reserve centered around the Ripple-linked cryptocurrency. On Tuesday, BitGo confirmed that it would facilitate the initial $100 million investment in the cryptocurrency. 

The recent developments show that some companies are now willing to go beyond Bitcoin and Ethereum when it comes to creating their strategic reserves. However, it remains to be seen whether this will be a broader trend. 



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June 4, 2025 0 comments
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NFT Gaming

Crypto Payments Firm MoonPay Secures New York BitLicense

by admin June 4, 2025



In brief

  • MoonPay was granted a BitLicense and money transmitter license in New York.
  • The firm says it can now operate coast-to-coast in the United States without coverage gaps.
  • New York City’s “Bitcoin Mayor” Eric Adams recently suggested ending the BitLicense.

Crypto payments company MoonPay has been granted its BitLicense and money transmitter license from the New York Department of Financial Services, it announced on Wednesday. 

Now, MoonPay customers based in New York can access the firm’s entire stack of fiat-to-crypto services. 

“The New York BitLicense is a critical milestone for MoonPay, enabling us to directly service New York customers,” MoonPay co-founder and CEO Ivan Soto-Wright told Decrypt. “New York is considered the gold standard in U.S. financial regulation, and we are thrilled to join the small group of companies that have passed this rigorous process.”

The BitLicense is a New York license necessary for conducting business in virtual currencies in the state. It allows an entity to maintain custody of digital assets on behalf of others, perform exchange services, and more.



With its New York licenses granted, MoonPay now holds money transmitting licenses in 47 United States jurisdictions, and registrations in countries like the United Kingdom, Australia, and Canada. 

Established in 2015, the BitLicense has been historically difficult to obtain for businesses looking to conduct crypto activities in the state. But current New York City mayor Eric Adams—the self-proclaimed “Bitcoin mayor”—recently suggested it should no longer exist. 

“I want you back in the city of New York, where you won’t be attacked and criminalized. Let’s get rid of the Bitcoin license and allow us to have the free flow of Bitcoin in our city,” Adams said at the recent Bitcoin 2025 conference in Las Vegas.

Adams has been vocal in support of the crypto industry, recently hosting a crypto summit after calling for NYC to become the “crypto capital of the world.” 

MoonPay has helped move the needle in that direction, unveiling a new headquarters in New York City at the end of April prior to being granted its BitLicense. 

“New York is the financial capital of the world. Our business has always been about bridging the traditional finance industry and the new crypto economy, and now, with our new HQ in New York and our BitLicense, we can work more closely with the largest financial institutions in the world,” said Soto-Wright.

The firm, which said it notched its best financial year by reaching profitability in 2024, played a pivotal role in the early success of President Donald Trump’s Solana meme coin launch. 

As for what’s next, Soto-Wright told Decrypt, “We are going to continue investing in talent in New York and the United States, with more announcements coming soon.”

Edited by Andrew Hayward

Editor’s note: This story was updated after publication to clarify attribution for the MoonPay comments.

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