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Italy’s central bank and securities regulator are in discussions with crypto service providers to ensure adequate safeguards against financial and cybersecurity risks, according to Bank of Italy Governor Fabio Panetta.
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Panetta discussed key issues related to crypto assets, digital finance and cybersecurity risks pertaining to global and European regulations at the 31st Assiom Forex Congress on Feb. 15.
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Panetta discussed key issues related to crypto assets, digital finance and cybersecurity risks pertaining to global and European regulations at the 31st Assiom Forex Congress on Feb. 15.
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Italy’s central bank and securities regulator are in discussions with crypto service providers to ensure adequate safeguards against financial and cybersecurity risks, according to Bank of Italy Governor Fabio Panetta.
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This pattern of trade has raised concerns about potential market manipulation as the TRUMP memecoin continues to dominate headlines.
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Onchain data reveals that the wallet purchased $5.9 million worth of TRUMP tokens in the first minute of its launch and later sold $20 million while retaining $96 million in tokens. TRUMP tokens were then routed through a wallet and distributed to 10 other wallets, now actively selling on Solana decentralized exchanges (DEXs).
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In a written statement, Consensys attorney Bill Hughes characterized the incoming Trump administration as a “sea change.” The attorney told Cointelegraph:
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“The same law enforcement and national security concerns that existed in the last administration are going to be present in the Trump administration,” the Consensys attorney said.
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The crypto industry has high hopes that United States President-elect Donald Trump will bolster crypto adoption both in the US and globally. However, only time will tell if his newly launched Solana-based memecoin is a step in the right direction.
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Crypto exchange Swyftx lead analyst Pav Hundal told Cointelegraph that the strong reception of the TRUMP memecoin so far is a good sign, giving the industry a glimpse of what might come during the next four years of the presidential term.
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TradeZella founder Umar Ashraf said he doesn’t believe that Trump, given his position, should have his own memecoin or even be promoting his own memecoin.
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However, it remains to be seen whether or not the incoming Attorney General of the United States, Pam Bondi, takes enforcement action against Trump or the memecoin, Lesperance added.
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Preetam Rao, CEO of QuillAudits, a Web3 security company, expressed concerns about the TRUMP token’s allocation structure and purpose.
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“Eighty percent of the supply is locked for CIC Digital, a company owned by the Donald Trump Revocable Trust. This is the same entity that launched Trump NFT Trading Cards three years ago. The website says it’s ‘not an investment but a show of support,’” Rao said.
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“Eighty percent of the supply is locked for CIC Digital, a company owned by the Donald Trump Revocable Trust. This is the same entity that launched Trump NFT Trading Cards three years ago. The website says it’s ‘not an investment but a show of support,’” Rao said.
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Preetam Rao, CEO of QuillAudits, a Web3 security company, expressed concerns about the TRUMP token’s allocation structure and purpose.
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As of Jan. 2, approximately 65% of USDC supplies are on Ethereum, 10% are on Solana, and roughly 15% span Base and Arbitrum — both Ethereum layer 2s — as well as Hyperliquid, a layer 1 for low-latency trading.
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In 2023, USDC remained heavily concentrated on Ethereum, which held 85% of the stablecoin’s circulating supply, Smith said.
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This change is partly because “retail traders increasingly enter the crypto market through Solana [as] speculation intensifies around Solana-based memecoins and AI agent tokens,” Grayscale said in a December research note.
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In 2024, the total value locked on Solana surged from around $1.5 billion in January to nearly $8.5 billion by December, according to data from DefiLlama.
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