cryptoupdate1

#cryptoupdate1
In crypto news today:
Crypto market is red today
Elliptic and IWF Join Forces to Prevent Child Exploitation Financing
Tether Acquires Strategic Stake in Gold-Focused Elemental
PYUSD Plans to Launch on Stellar

Crypto market is red today
The crypto market has made a sharp turn into the red territory.
The global cryptocurrency market capitalization has decreased by 3.9% over the past 24 hours to $3.5 trillion. At the time of writing, the daily crypto trading volume is at $131 billion.
Moreover, all top 10 coins per market capitalization have seen their prices fall today. Bitcoin (BTC) is down 1.9, currently trading at $107,330.Furthermore, Ethereum (ETH) decreased by 0.9%, now changing hands at $2,743.
The category’s biggest drop is 6% recorded by Dogecoin (DOGE), which now stands at the price of $0.1884.
In the top 100 coins category, five are up at the time of writing. SPX6900 (SPX) is the highest gainer, having appreciated 9.3% to $1.68. It’s followed by WhiteBIT Coin (WBT)’s rise of 4.7% to $32.8, while the remaining three coins are up 1% or less.
Gate (GT) decreased the most in this timeframe. It’s down 8.8% to $17. Next one on the list is Artificial Superintelligence Alliance (FET), having decreased by 8% to the price of $0.7292.
Elliptic and IWF Join Forces to Prevent Child Exploitation Financing
Blockchain analytics firm Elliptic has partnered with the Internet Watch Foundation (IWF) to help prevent the financing of child sexual abuse images and videos through cryptocurrencies and blockchain infrastructure.

Per the press release, the partnership will allow Elliptic to integrate IWF’s specialized data on crypto payment addresses associated with the sexual abuse of children into its blockchain intelligence platform. Therefore, Elliptic will boost its ability to help clients identify and prevent transactions linked to child exploitation.
“This collaboration represents a significant advancement in the proactive identification of illicit financial networks,” the teams say. “It not only helps Elliptic’s clients protect their platforms from being exploited by criminals, but also empowers law enforcement agencies to more effectively trace and disrupt these criminal networks, creating a multiplier effect in the global fight against child exploitation.”
Tether Acquires Strategic Stake in Gold-Focused Elemental
Tether has announced the acquisition of 31.9% of the issued and outstanding shares of Elemental Altus Royalties Corp., a Canada-based publicly listed gold-focused royalty company. According to the press release, Tether Investments acquired 78,421,780 common shares of Elemental.
The transaction was completed offshore via private agreement. “The investment marks a significant step in Tether’s broader strategy to integrate long-term, stable assets such as gold and Bitcoin into its ecosystem, both as a financial hedge and as part of its commitment to building robust, decentralized, and resilient infrastructure for the digital economy,” the company writes.

Additionally, Tether signed an option agreement on the same day with AlphaStream Limited and its fully owned subsidiary, Alpha 1 SPV Limited. These are privately held companies, incorporated under the laws of the Abu Dhabi Global Market.
Under this agreement, Alpha 1 gave Tether Investments the option to buy a total of 34,444,580 Elemental common shares in a deal that would take place outside of Canada. This option is not an obligation and cannot be exercised before 29 October, unless Elemental approves.

PYUSD Plans to Launch on Stellar
PayPal said it plans to launch the PayPal USD (PYUSD) stablecoin on the Stellar network. The press release says that the company will leverage the network’s speed, transaction costs, and ease of integration to boost its utility for real-world payments, commerce, and micro-financing.
The move, pending regulatory approval by the New York State Department of Financial Services (NYDFS), will offer an additional option to Ethereum and Solana, the team adds.

Customers can use PYUSD on Stellar for cross-border payments and expanded access to financial services. Moreover, users would get improved daily payment options and financing solutions, including working capital and business loans.
Finally, PYUSD users would gain access to a number of on and off ramps, with expanded access through digital wallets and connection to local payment systems and cash networks. “Access to extensive Stellar infrastructure will enhance how people can use PYUSD in their everyday financial activities, from payments to remittances to merchant services,” the announcement says.

Follow 🔥 Stay tuned for more updates 🚀😍🚀