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The Crypto Basic
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Tokens to be unlocked this month will be worth more than $10 million, and they include 1INCH, SUI, APT, APE, and OP, according to TokenUnlocks.
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#TokenTypes
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#CryptoMovement
#CryptoNews🔒📰🚫
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APT
4.492
-8.66%
OP
0.525
-7.73%
1INCH
0.1668
-6.60%
1.6k
0
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#FTX creditor representative Sunil Kavuri has provided a new update on the next distribution of claim payments to creditors of the defunct crypto exchange. Recall that FTX commenced the distribution of funds to eligible users on February 18, 2025, starting with small creditors with claims under $50,000. According to Kavuri, FTX paid creditors in this category (those entitled to claims under $50,000) 120% of their initial claim value. This indicates that creditors received a 20% premium on their original claim value. Afterward, FTX commenced the second round of repayments on May 30, 2025, distributing $5 billion to creditors with claims over $50,000. The exchange distributed the funds within three business days of May 30. However, creditors with claims exceeding $50,000 received only 72.5% of their initial claim value. Next Payment Schedule Notably, Kavuri has disclosed the next repayment date for the remaining 27.5% of claims to large creditors. According to him, the upcoming distribution is expected to take place in Q4 2025, specifically from October to December. Additionally, he suggested that the repayment schedule could be extended to 2026 or 2027. This repayment will ensure that creditors with claims exceeding $50,000 receive 100% of their claim. Besides the claim value, these large creditors are also entitled to post-petition interest, which totals 40% to 80%. FTX’s Epic Collapse and Repayment Efforts This ongoing repayment schedule comes more than two years after FTX’s collapse in November 2022. The exchange declared bankruptcy, with key executives sentenced to several years in prison. Specifically, a federal court in New York sentenced FTX founder Sam Bankman-Fried (SBF) to 25 years in prison due to his role in mismanaging users’ funds, leading to the exchange’s downfall. The court subsequently sentenced other executives, including Alameda Research CEO Caroline Ellison and FTX Digital Markets CEO Ryan Salame, to two and seven-and-a-half-year jail terms, respectively. #CryptoNewss
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#Cardano founder Charles Hoskinson has reacted to a recent development that would enhance the multi-chain functionality of the Midnight Network. Midnight, a privacy-focused Cardano sidechain, is imminent, and the crypto community remains expectant. Paima Studios, one of the partners of the Midnight Network, recently announced an ongoing project to build a hybrid DApp feature for Midnight, drawing accolades from Charles Hoskinson, the founder of Cardano. Hybrid dApps Coming to Midnight Sebastien Guillemot, the co-founder of Paima Studios, disclosed that his team is working on bringing hybrid decentralized applications (dApps) to Midnight. According to the June 29 tweet, this feature will enable applications with multi-chain functionalities. Meanwhile, Guillemot shared a prototype of the Paima Explorer, featuring the different chains a developer’s dapp connects to, the primitive data dashboard, and the state machine table. The Paima Studio co-founder emphasized that the state machine column enables developers to visualize how smart contracts update based on data across multiple chains. Recall that it was on this basis that Midnight forged a collaboration with Paima Studio. The Web3 gaming studio partnered with Midnight to bring Ethereum Virtual Machine (EVM) compatibility to the Cardano sidechain. For context, this feature will enable Ethereum developers to deploy dapps on Midnight with just a few lines of code. Furthermore, Paima Studios would also explore the application of zero-knowledge technology (ZK) in Web3 gaming. Hoskinson Applauds New Explorer As usual, Hoskinson cheered the development, calling it a “bedrock of cooperative economics.” He argued that the multi-chain explorer is one of the most essential workstreams in the crypto industry, alongside Midnight’s dual token model and the capacity exchange. The founder’s comment echoes his new belief that crypto projects should collaborate more for the greater good of the industry, shifting from the current zero-sum game. #CryptoNewsCommunity
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Ripple’s senior executive officer, Reece Merrick, makes a daring claim about #Ripple USD (RLUSD) stablecoin, emphasizing that it clears $10 billion in transaction volume daily. Merrick, the Managing Director for the Middle East & Africa at Ripple, made the bold claim during an exclusive interview with Finance World Magazine at the Dubai Fintech Summit. In the interview, Merrick discussed how blockchain, particularly stablecoin, could revolutionize cross‑border payments. According to Merrick, roughly 50% of the world’s cross-border settlements are settled in U.S. dollars (USD) despite most of these transactions occurring outside the United States. Notably, he stated that stablecoins are becoming an integral part of the evolving cross-border payment sector. He indicated that stablecoins, particularly those pegged to USD, were created to eliminate some inefficiencies associated with the traditional payment system, paving the way for instant and low-cost settlements. RLUSD Sees $10B in Daily Volume Notably, Ripple launched its dollar-pegged stablecoin last year, enabling users to transfer value instantly without relying on intermediaries. According to Merrick, RLUSD has recorded widespread adoption within seven months of its launch, with its market cap soaring to roughly $300 million. Interestingly, he claims RLUSD boasts a daily transaction volume of $10 billion. This implies that RLUSD clears approximately $10 billion in transaction volume daily. #CryptoNewss
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"Top Analyst: XRP’s Wave 3 Has Begun — New All-Time High Is Closer Than You Think"
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SEC acknowledges Grayscale’s amendment filing to convert its Digital Large Cap Fund into an ETF covering BTC, ETH, XRP, SOL, and ADA. #Crypto
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