Latest news with #Web3-based
Yahoo
17 hours ago
- Business
- Yahoo
XRP Down 4% as Global Economic Tensions Trigger Market Selloff
XRP fell as much as 6% over the past 24 hours as global economic tensions rattled financial markets, triggering a wave of liquidations and pushing prices below key support levels. The token dropped from $2.20 to $2.14 as the broader crypto market shed 3.81% of its value, settling at a total market cap of $3.3 trillion. The volatility comes in the wake of the U.S. Court of International Trade's decision to overturn Trump's trade tariffs, reigniting trade policy concerns and sending ripples across risk assets. XRP wasn't immune, with over $29.68 million in long positions liquidated as traders scrambled to adjust their exposure. China-based Webus International said Friday it plans to raise up to $300 million through non-equity financing to support its global chauffeur payment network with an XRP reserve. The initiative aims to integrate XRP's cross-border settlement capabilities into Webus' ecosystem, including on-chain booking records and a Web3-based loyalty program. Webus is renewing its partnership with Tongcheng Travel Holdings to use the XRP Ledger to settle cross-border rides and driver payouts. Bitget listed Ripple's RLUSD stablecoin late Thusday. Ripple published a cross-border payments report on Friday. Cross-border payments underpin the $31.6 trillion B2B market, projected to hit $50 trillion by 2032. Traditional multi-intermediary rails are slow, costly and opaque, facing regulatory and transparency hurdles. Blockchain-based solutions like Ripple's stablecoin network promise near-instant, cheaper, visible settlement, enhancing liquidity, global expansion, talent payments and customer trust, while reducing failed transfers, the report said. XRP found strong selling pressure at the $2.21 resistance level, failing to mount a sustained recovery, according to CoinDesk Research's technical analysis model. A notable support zone emerged near $2.11, with high-volume buying during the 03:00 hour preventing further downside. Recent consolidation between $2.13 and $2.14 suggests potential stabilization, though the pattern of lower highs indicates sellers remain in control. In the final trading hour, XRP formed a higher-low pattern around $2.135, signaling potential short-term support. However, the token also faced resistance at $2.144-$2.145, forming a tight range that traders will be watching closely for the next breakout or breakdown. XRP dropped 5.7% from $2.20 to $2.14 over the past 24 hours. A price range of $0.13 (5.9%) was observed between a high of $2.22 and a low of $2.09. Significant resistance formed at $2.21 during the 16:00 and 22:00 hours, triggering heavy selling. Strong buying at $2.11 during the 03:00 hour prevented further downside. Recent consolidation between $2.13 and $2.14 suggests potential stabilization, though lower highs persist. A higher low at $2.135 formed in the last hour, with resistance at $2.144-$2.145 capping any rebound. XRP closed the session at $2.137, indicating consolidation after a volatile day. As XRP navigates the crosswinds of macroeconomic tensions and technical headwinds, traders will be closely watching for any signs of sustained support or further breakdown. Sign in to access your portfolio
Yahoo
2 days ago
- Business
- Yahoo
International Chauffeur Service Webus Plans $300M Raise for XRP Strategic Reserve
Webus International, a China-based provider of customizable car and touring services for travelers worldwide, said it plans to raise as much as $300 million through non-equity financing to establish an XRP XRP reserve supporting its global chauffeur payment network. The reserve is part of a broader push to integrate XRP's cross-border settlement capabilities into Webus's ecosystem, including on-chain booking records and a Web3-based loyalty program, the company said. The initiative aims to streamline international payments while preserving equity value by relying on loans, credit lines and shareholder guarantees rather than issuing new shares, CEO Nan Zheng said in the statement. The announcement follows Saudi Arabia-based VivoPower International's plans to build a $121 million XRP treasury, indicative of growing interest from companies in the fourth-largest token by market cap. The financing plan is non-binding and subject to final agreements and due diligence. Webus added it was renewing a partnership with Tongcheng Travel Holdings, one of China's largest online travel agencies, to extend their 'Wetour x Tongcheng' charter lines — stating they would aim to use the XRP Ledger to settle cross-border rides and driver payouts. Sign in to access your portfolio
Fashion United
4 days ago
- Business
- Fashion United
9dcc to cease operations: Crypto fashion brand ends activities due to economic headwinds
Fashion label 9dcc, which combines physical clothing with NFTs on the Ethereum blockchain, is ceasing operations at the end of May. This was announced yesterday by founder Gmoney, an anonymous creator and collaborator in the NFT world, via the platform X (formerly Twitter). Since its launch in 2022, the brand gained recognition with 'network products' (physical products linked to digital tokens such as NFTs on a blockchain), collaborations with Adidas and Mastercard, among others, and a fanbase that includes names such as Bradley Cooper and Chance the Rapper. The clothing was linked to digital tokens, thus forming a bridge between fashion and technology. According to a press release about its creation at the time, the crypto-native label offered a fresh perspective on fashion for a 'critical, digitally-first consumer'. 'We have been on a journey to bring the digital and physical worlds together over the past few years,' Gmoney wrote on X. 'We did groundbreaking drops, organised special events and built a community at the intersection of tech and fashion.' Nevertheless, economic factors proved insurmountable. 'Despite strong brand recognition and an engaged community, we were unable to overcome the macroeconomic headwinds within the Web3 consumer market and the global slowdown in luxury retail,' said Gmoney. Gmoney's fashion house 9dcc is a fully Web3-based brand that strives to redefine the luxury fashion industry. Credits: 9dcc logo FashionUnited has contacted 9dcc for more information. This article was translated to English using an AI tool. FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@
Associated Press
27-03-2025
- Associated Press
StorX Introduces Seamless & Secure Web3-Based Authentication
Saying Goodbye to StorX Vault Passphrases & Outdated Logins VICTORIA, SEYCHELLES, March 27, 2025 / / -- StorX Network, a leading DePIN (decentralized cloud storage) network, is revolutionizing authentication with Web3-based authentication, replacing outdated login methods with a more secure, decentralized, and user-friendly system. This major upgrade, including Web3 logins and passphrase removal, will go live on April 1st, 2025, at 12 PM UTC. Web3 represents the next evolution of the internet—where users have full control over their data and identities. Built on XDC Network, StorX Network's Web3 based authentication eliminates central authorities, fostering a secure and private online experience with benefits like interoperability, privacy, security, and decentralization. A New Era of Secure & Decentralized Authentication StorX is eliminating traditional password-based authentication and outdated Web2 logins. Users can now seamlessly sign in using Google or LinkedIn, ensuring hassle-free and secure access while upholding privacy. Also as part of this transition, Twitter and Unstoppable Domains logins will be discontinued, reinforcing StorX's commitment to decentralization and security. By integrating trusted platforms, StorX enables frictionless access while ensuring user's complete control over data. Passphrase-Free Vaults for Enhanced Security StorX is also removing passphrase-based encryption from vaults and transitioning to a private key-based system. This enhances security by eliminating the need for users to create or remember complex passphrases while ensuring stronger, decentralized protection of stored data. The Future of Decentralized Authentication This marks a major step toward secure and user-friendly authentication. By embracing Web3 based authentication, StorX is setting new standards for decentralized, censorship-resistant storage. Existing users (Google, LinkedIn Users) can transition smoothly to the new authentication system. StorX remains committed to enhancing security and usability while upholding decentralization. For more details, visit About StorX: StorX is a decentralized cloud storage network providing secure, private, and censorship-resistant data storage solutions. By leveraging blockchain technology, StorX ensures data integrity, security, and accessibility for individuals and enterprises worldwide. Prashant Acharya StorX X LinkedIn YouTube Legal Disclaimer:
Associated Press
05-02-2025
- Business
- Associated Press
Intchains Group Limited to Participate in the 'Digital Assets 2025: To Bitcoin and Beyond,' Virtual Conference Presented by Maxim Group LLC on Wednesday, February 12th at 9:30 a.m. EST
SHANGHAI, Feb. 05, 2025 (GLOBE NEWSWIRE) -- Intchains Group Limited (Nasdaq: ICG) ('we,' or the 'Company'), an innovative altcoins development company that primarily focuses on providing integrated solutions consisting of mining products for altcoins, and on acquiring and holding ETH-based cryptocurrencies as its long-term asset reserve to support its Web3 industry development initiatives including actively developing Web3-based applications, today announced that Company CFO Charles Yan has been invited to present at the 'Digital Assets 2025: To Bitcoin and Beyond', Presented by Maxim Group LLC, on Wednesday, February 12th, 2025, at 9:30 a.m. EST. Our company will be taking part in the 'Digital Assets 2025: To Bitcoin and Beyond' Virtual Conference. Matthew Galinko, Research Analyst at Maxim Group, will sit down with companies in the digital asset ecosystem, including bitcoin miners, equipment providers, and corporate adopters of crypto as a treasury strategy. We will discuss the evolution of the industry and prospects in the new year with regulatory changes expected in the months ahead. This conference will be live on M-Vest. To attend, sign up to become an M-Vest member. About Intchains Group Limited Intchains Group Limited is an innovative altcoins development company that primarily focuses on providing integrated solutions consisting of mining products for altcoins, and on acquiring and holding ETH-based cryptocurrencies as its long-term asset reserve to support its Web3 industry development initiatives including actively developing Web3-based applications. For more information, please visit the Company's website at: About Maxim Group LLC Maxim Group LLC is a full-service investment banking, securities and wealth management firm headquartered in New York. The Firm provides a full array of financial services including investment banking; private wealth management; and global institutional equity, fixed-income and derivatives sales & trading, equity research and prime brokerage services. Maxim Group is a registered broker-dealer with the U.S. Securities and Exchange Commission (SEC) and the Municipal Securities Rulemaking Board (MSRB) and is a member of FINRA SIPC, and NASDAQ. To learn more about Maxim Group, visit Contacts: Intchains Group Limited Redhill Belinda Chan
