Yuga Labs CEO Greg Solano faced a challenging day, as he conveyed to company employees in a message subsequently shared with the public.
Following an all-hands meeting where layoffs were disclosed, some staff members experienced an even tougher time. Solano attributed Yuga’s struggles to losing its original direction.
In his internal communication, Solano reflected on his two-month tenure as CEO, lamenting the erosion of the company’s creative ethos:
“The creative-first spirit that drove this company from inception has been getting muddied by labyrinthine corporate processes.
“We work hard and we care but somehow end up with groups and committees.
“We plan more than we ship.”
“Creator royalties were thriving and made our whole ecosystem electric. Now we’re in hard mode,” Solano said, but he has a plan.
Solano outlined initial steps in the restructuring, citing the spinout of HV-MTL and Legends of the Mara on April 17.
Yuga’s gaming properties were acquired by game developer Faraway, with Yuga’s chief gaming officer Spencer Tucker joining them.
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Solano’s message on April 26 emphasized Yuga’s focus on developing its Otherside metaverse project.
Shortly before Solano’s announcement, Won Kim was appointed as Yuga’s head of brand partnerships. Kim, co-founder of the Bored Room Ventures NFT fund and consulting agency, left his previous position for Yuga.
The X crypto community had mixed reactions to the layoffs, though Solano’s post garnered overwhelming support.
Amidst supportive responses, there were also dissenting voices. One individual, Ricefarmer, claimed to have been laid off from Yuga Labs and highlighted their former role as a Discord moderator.
Yuga Labs, known for pioneering NFT collectibles, has faced challenges amid market evolution. In October, the company underwent restructuring, which included a round of layoffs.
When approached for further comment, Yuga Labs declined to provide additional information.
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Shiba Inu (SHIB) and Dogecoin (DOGE) are two dog-themed memecoins that went viral and delivered massive gains to early investors.
Solana memecoins have been attracting huge investment from retail crypto investors in recent weeks, as early investors hope to generate similar returns to early Shiba Inu (SHIB) and Dogecoin (DOGE) buyers.
However, with hundreds of new memecoins being launched every day – and most of them being almost immediately rugpulled – it can be difficult to decide which coins to invest in.
In this article, we list four newly launched Solana memecoins that could potentially deliver astronomical returns to early investors, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Dapper Duck (DAPDUCK)
Market Cap: $3,000
Contract Address: Aeem6NMbRzcLCFxJWCYWatevYLEKEi1P1YkkYJv7dgUd
Doge With Hat (DOGEHAT)
Market Cap: $5,700
Contract Address: 2Tw3MJ2wCZZte6GvfaqVch3WQnwfdJByST7ih7e62yjb
Flying Penguin (FLYPEN)
Market Cap: $15,000
Contract Address: 37Tfn3F5E84KvitHHQVK37KzZZ3qAPCdxjGgBJd8XoVs
Joey Bonk (JOEBONK)
Market Cap: $19,000
Contract Address: AiqeRZVZgPkDVVXNTYqz7xGA7bgwuTgE1ShqCkC7C7Em
How to Buy Solana Memecoins
Solana memecoins, like the coins listed above, usually cannot be purchased on centralized exchanges, such as Binance and Coinbase.
Instead, they are purchased via decentralized Solana exchanges, like Raydium or Jupiter.
This is done by connecting your Solflare, Phantom or MetaMask wallet to the exchange, and swapping Solana for the token by entering its contract address in the receiving field.
Flying Penguin (FLYPEN) could become a viral memecoin, like Shiba Inu (SHIB) and Bonk (BONK).
Flying Penguin (FLYPEN), a Solana memecoin that was launched today, is aiming to challenge other memecoin giants, such as Shiba Inu (SHIB) and Bonk (BONK).
Early investors in SHIB and BONK made astronomical returns, and Flying Penguin presents a similar opportunity.
Flying Penguin has market cap below $30,000 at the moment, meaning that when it just reaches a modest market cap of $300,000-$700,000, early investors would generate returns of 2,000%-5,000% in a matter of days or hours.
The exciting memecoin is poised to rally 9,300% in the coming two days, and Flying Penguin could potentially reach a multi-million dollar market cap within a few weeks.
Currently, Flying Penguin can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
To buy Flying Penguin on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Flying Penguin by entering its contract address – 37Tfn3F5E84KvitHHQVK37KzZZ3qAPCdxjGgBJd8XoVs – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Bonk (BONK) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Bonk (BONK) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, BONK and WIF investors are instead investing in new Solana memecoins, like FLYPEN.
The closure of Philadelphia-based Republic First Bank marks the inaugural banking failure in the United States for 2024.
This event has ignited discussions within the crypto community, with Bitcoin, Ether, and various altcoins experiencing slight setbacks in the wake of the news.
Zesh Marius Martocsan, CEO of X, expressed skepticism towards traditional banking, stating, “Another bank just collapsed, the Republic First Bank. Yeah… I think I’ll stick to Bitcoin.”
Pillage Capital, a pseudonymous crypto trader on X, viewed the failure of Republic First Bank as a significant narrative for crypto, stating, “Republic First Bank failure is worth a look since bank failures are the best possible narrative we can get for crypto.”
Randi Hipper, a crypto commentator, posed a thought-provoking question to her 87,100 X followers, asking, “How many more need to fail before people start to be their own bank?”
Following the seizure of Republic First by the Pennsylvania Department of Banking and Securities on April 26, the Federal Deposit Insurance Corporation (FDIC) was appointed as its receiver.
The FDIC will absorb nearly all deposits and assets of Republic Bank, as outlined in an April 26 statement by the agency.
As of January 31, Republic First possessed approximately $6 billion in total assets and $4 billion in total deposits.
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Subsequently, its 32 branches across New Jersey, Pennsylvania, and New York will reopen under the umbrella of Fulton Bank on April 27.
The news of Republic First Bank’s closure follows a challenging year for the banking industry, with FDIC data reporting five banking failures in the U.S. in 2023.
Furthermore, recent history has shown that even rumors of potential banking failures can impact Bitcoin’s price.
However, in this instance, Bitcoin is down 1.16% and trading at $62,715, while Ether is down 0.58% and trading at $3,095, according to CoinMarketCap data.
Altcoins have experienced a slightly more significant decline, with Dogecoin down 2.88% and Solana down 1.79% in the past hour.
In 2023, the closure of Signature Bank and Silicon Valley Bank, among others, underscored the challenges faced by the banking industry.
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An Arkham Intelligence report unveils the current top 10 holders of SHIB, with the burn SHIB address reigning supreme, holding a staggering 410,418,816,901,215.06 SHIB, valued at over $10 billion, comprising 41% of the total Shiba Inu supply.
Following closely behind is Crypto.com, holding 37,570,344,005,265.1 SHIB, equating to 3.76% of the supply and valued at $968,560,000.
However, this wallet’s online connectivity exposes it to potential security risks.
Third on the list is a Binance cold wallet, possessing 35,000,000,000,000 SHIB, totaling $902,300,000. Robinhood’s cold wallet trails shortly after, securing 31,753,251,930,362.97 SHIB, valued at $818,600,000.
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The Shib team’s wallet rounds out the top 10, holding 6,397,162,264,908 SHIB, worth $164,920,000.
In a significant development, cryptocurrency whales have moved nearly 17 billion SHIB coins in recent hours, predominantly from Kraken to OKX.
Meanwhile, an upcoming “hard fork” for Shibarium, scheduled on May 2, promises faster block production and more predictable transaction fees.
Despite this, there’s no mention of the automated burn mechanism tested on the Puppynet testnet since January.
SHIB burns continue manually, primarily by the SHIB army, with occasional involvement from the developer team, funded by BONE collected from Shibarium transaction fees.
However, over the past 24 hours, the burn rate has seen a significant decline, with only 4,422,643 SHIB removed from circulation, marking an 88.96% decrease.
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In the realm of meme coins, Dogecoin (DOGE/USD) and Shiba Inu (SHIB/USD) have exhibited varied performance over the past month, yet analysts hold positive expectations for these tokens owing to imminent fundamental advancements.
Shiba Inu made headlines with its forthcoming Shibarium upgrade, slated for May 2, aimed at refining user experience and unlocking advanced functionalities within the network.
This enhancement seeks to streamline block processing times and ensure transaction fee predictability, thus rendering the platform more user-friendly and cost-effective.
Suggestions from community members, including trader Lola, advocate for integrating auto-burn features into this upgrade to bolster the token’s utility and appeal.
Concurrently, attention has been drawn to significant whale activity in the Dogecoin sphere, with two substantial transactions involving over 228 million DOGE each—totaling $68.7 million—transferred from an undisclosed wallet to Coinbase.
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These wallet addresses, dormant since Coinbase’s initial Dogecoin listing in June 2021, indicate renewed activity, potentially hinting at forthcoming developments such as DOGE futures listing on Coinbase.
Institutional adoption of meme coins is gaining traction, as reflected in Shiba Inu’s inclusion in the Symbolic Capital Partners portfolio, representing 2% ($1.7 million) of their $86 million holdings, according to Arkham Intelligence data.
This trend suggests a burgeoning interest among institutional investors in meme coins, which could propel market valuation upward over time.
Cryptocurrency trader Kevin has analyzed Dogecoin’s historical performance, pinpointing potential price targets of 0.95 and 1.35 for the ongoing bull cycle.
However, he notes that reaching the current 1.618 Fibonacci extension at $3.80 may pose a challenge.
With transformative upgrades on the horizon for Shiba Inu and noteworthy whale activity indicating potential developments for Dogecoin, investors and traders maintain an optimistic outlook on the future trajectories of these meme coin frontrunners.
As of the latest update, DOGE was trading at $0.1489, marking a 21.4% decline over the past 30 days, while SHIB was trading at $0.00002523, reflecting an 18.4% decrease over the same period.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Joey Bonk (JOEBONK) will turn early investors into multi-millionaires if it becomes a mainstream coin, like Shiba Inu (SHIB) and Dogecoin (DOGE).
Joey Bonk (JOEBONK), a new Solana memecoin that was launched today, is poised to explode over 7,000% in price in the coming days.
This is because JOEBONK has announced its first centralized exchange listing, which will be on MEXC.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Joey Bonk can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Joey Bonk could become the next viral memecoin.
To buy Joey Bonk on Raydium or Jupiter ahead of the MEXC listing, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Joey Bonk by entering its contract address – AiqeRZVZgPkDVVXNTYqz7xGA7bgwuTgE1ShqCkC7C7Em – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE, and WIF investors are instead investing in new Solana memecoins, like JOEBONK.
Dapper Duck (DAPDUCK) could become a viral memecoin, like Shiba Inu (SHIB) and Dogecoin (DOGE).
Dapper Duck (DAPDUCK), a Solana memecoin that was launched this week, is aiming to challenge other memecoin giants, such as Shiba Inu (SHIB) and Dogecoin (DOGE).
Early investors in SHIB and DOGE made astronomical returns, and Dapper Duck presents a similar opportunity.
Dapper Duck has market cap below $10,000 at the moment, meaning that when it just reaches a modest market cap of $200,000-$500,000, early investors would generate returns of 2,000%-5,000% in a matter of days or hours.
The exciting memecoin is poised to rally 7,400% in the coming three days, and Dapper Duck could potentially reach a multi-million dollar market cap within a few weeks.
Currently, Dapper Duck can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
To buy Dapper Duck on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Dapper Duck by entering its contract address – Aeem6NMbRzcLCFxJWCYWatevYLEKEi1P1YkkYJv7dgUd – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like DAPDUCK.
Ki Young Ju, founder and CEO of CryptoQuant, defended crypto mixing services, stating that they are not inherently criminal.
In response to the recent arrest of Samourai Wallet founders, he emphasized the importance of privacy in Bitcoin, noting that mixing, a technique used to enhance privacy, should not be deemed illegal. He likened punishing mixing service providers to blaming the inventor of a knife for its misuse.
The United States Department of Justice (DOJ) arrested Keonne Rodriguez and William Hill, CEO and CTO of Samourai Wallet respectively, on April 24.
They each face charges of conspiracy to commit money laundering and operating an unlicensed money transmitting business.
This development sparked concerns within the crypto community, with fears that it could signify increased governmental scrutiny of the industry.
NSA whistleblower Edward Snowden criticized the arrests, describing them as an assault on financial privacy.
He advocated for making financial transactions private by default to prevent such governmental interventions.
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The DOJ alleged that Samourai Wallet facilitated unlawful transactions exceeding $2 billion and facilitated over $100 million in money laundering transactions from illicit dark web markets.
Crypto analyst Ryan Adams echoed concerns about the erosion of financial privacy, emphasizing that developers now face significant legal consequences for their coding activities.
This arrest is not an isolated incident; it reflects a broader trend of crackdowns on privacy-preserving technologies within the cryptocurrency space.
In August 2023, the DOJ charged developers of Tornado Cash, a crypto mixer, with money laundering and operating an unlicensed money transfer business.
This followed the arrest of three developers, including Alexey Pertsev, in August 2022, shortly after the U.S. Treasury sanctioned Tornado Cash for its alleged use by the North Korean Lazarus Group in laundering over a billion dollars worth of cryptocurrency.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
The United Kingdom’s National Crime Agency (NCA) and police have been granted expanded authority to deal with cryptocurrency used for illicit activities, including the power to “seize, freeze, and destroy” such digital assets.
Under the new regulations, law enforcement in the UK will no longer need to make an arrest prior to confiscating crypto holdings.
In a statement released by the UK Home Office, it was disclosed that police can now also seize materials such as passwords or memory sticks that could assist in ongoing investigations.
Additionally, UK law enforcement will have the capability to eliminate a crypto asset if reintroducing it into circulation is deemed harmful to the public interest.
Effective from April 26, the new laws authorize the police to transfer seized illicit cryptocurrency to wallets under their control, with provisions for crime victims to seek reimbursement from their crypto accounts.
UK Home Secretary James Cleverly emphasized the necessity of preventing criminals from profiting from illegal activities, citing the use of cryptocurrency fundraising by various groups as a key driver behind the introduction of these enhanced police powers.
Cleverly underscored the potential national security implications, citing instances where terrorist organizations like Daesh have been known to finance their operations through crypto transactions, highlighting the importance of enabling agencies to more effectively strip them of their assets.
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The enactment of these regulations follows the passage of a crime bill by the UK parliament in 2023, which facilitated the swift seizure of cryptocurrency assets.
Privacy coins were singled out in the press release as being particularly detrimental to the public good.
While cryptocurrencies like Bitcoin (BTC) and Ether (ETH) offer pseudo-anonymity through public ledgers, privacy coins afford users a higher degree of anonymity.
Despite the anonymity associated with wallet addresses, it was noted that once linked to an individual’s identity through procedures like Know Your Customer (KYC), all transactions conducted through that wallet can be traced and identified.
The announcement acknowledged that cryptocurrencies and nonfungible tokens (NFTs) have been exploited by drug dealers and fraudsters, leading to various investigations.
However, the new measures aim to curtail the exploitation of crypto for illicit purposes while fostering its legitimate potential to drive economic growth.
This concerted effort to regulate crypto is not unique to the UK, as evidenced by recent actions taken by law enforcement globally, including the arrest of the founders of Bitcoin mixer Samourai Wallet in the United States on charges of conspiracy to commit money laundering on April 24.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.