Canada Scraps Plan to Launch 'Digital Loonie' CBDC

Bitcoin's price has surged over 6% to $63,199 per coin following the Federal Reserve's decision to cut interest rates. This has resulted in a wave of liquidations, with over $154 million in short positions being closed across all cryptocurrencies. Ethereum has also seen a significant increase, rising over 6% to $2,437 per coin.

Louisiana has become the latest U.S. state to accept cryptocurrency payments for state services. Residents can now use Bitcoin, the Bitcoin Lightning Network, and the stablecoin USDC to pay fines and fees. The state aims to modernize payment systems and reduce fraudulent transactions by embracing new technologies.

Drift, a decentralized finance (DeFi) platform, has raised $25 million in Series B funding to expand its Solana-based exchange. The funding round was led by Multicoin Capital, and Drift plans to use the funds to build various financial services tools and double its headcount within the next year. As a decentralized platform, Drift differentiates itself from centralized exchanges by not having a single entity in control of users' funds.

Blockdaemon, a blockchain infrastructure provider, is considering a potential initial public offering (IPO) in 2026. CEO Konstantin Richter stated that 2026 would be a suitable timeframe for pursuing an IPO, as the company would be around eight or nine years old by then.

Solana Labs is set to launch the Solana Seeker smartphone in mid-2025, following the success of its previous phone, the Solana Saga. The Seeker, priced at $450, will feature a brighter display, longer battery life, better cameras, and improved performance compared to its predecessor. Solana Mobile, the Labs division behind the hardware, aims to attract new and existing crypto users with the Seeker, which will come with a custom custody solution called the Seed Vault and a software wallet developed in collaboration with Solflare.

Former U.S. President Donald Trump made a historic transaction by using Bitcoin to buy burgers at a Bitcoin-themed bar in Manhattan. Trump was assisted by Bitcoin backers at the bar who helped him with the process of scanning a QR code and approving the transaction. Trump expressed his support for the crypto community and encouraged them to vote in the upcoming election.

Despite Jamie Dimon's criticism of Bitcoin and cryptocurrency, JPMorgan Chase, one of the largest banks in the world, is a significant user of blockchain technology. Dimon stated that the bank is a "real" user of blockchain, emphasizing its practical application rather than illicit activities like sex trafficking. JPMorgan Chase utilizes blockchain for its JPM Coin product, enabling automated fund transfers based on predetermined conditions.

Hackers targeted notable Twitter users, including Lenovo, Oliver Stone, Yahoo News UK, and Neymar Jr., to promote a dodgy meme coin called HACKED on Solana. However, the scam didn't gain much traction, with the cryptocurrency only generating $278,000 in trading volume and a market cap of $5,700. Despite the scale of the attack, the hackers likely only made away with $8,000.

The SEC has settled charges against decentralized finance platform Rari Capital and its co-founders for allegedly misleading investors and acting as an unregistered broker. Rari Capital's platforms held over $1 billion worth of assets at one point. The settlement includes various penalties and injunctions against the co-founders and a cease-and-desist order for Rari Capital Infrastructure.