Paxos selects Plume, Hyperliquid, Aptos as primary launch networks for USDGO stablecoin

Paxos has acquired Fordefi to enhance its infrastructure for stablecoin and tokenization, integrating Fordefi's MPC wallet technology to expand its regulated capabilities in custody and institutional on-chain operations.

Hyperliquid's price has entered a downtrend, forming a new low amid a challenging week for the cryptocurrency markets, raising concerns about investor sentiment and liquidity. Technical analysis indicates a potential for further declines, prompting questions about the market's stability.

Paxos has acquired Fordefi, a crypto wallet provider, for over $100 million, a move that enhances its infrastructure in the blockchain sector. This acquisition is aimed at strengthening secure and compliant services for institutional clients, particularly in the areas of custody and on-chain asset management.

Paxos has acquired the crypto wallet startup Fordefi to enhance its custody services, aiming to meet the increasing institutional demand for on-chain asset issuance and stablecoin payments. This acquisition integrates Fordefi's MPC wallet technology, which is expected to bolster Paxos' regulated capabilities in custody and institutional operations.

Aptos' APT has been underperforming in the cryptocurrency markets, with price consolidation occurring near key support levels while trading volumes remain elevated above weekly averages. This trend reflects ongoing challenges for the token amidst a broader market downturn.

A prominent trader known as the 'OG whale' has increased their long position on Ether by $10 million, bringing the total to $44.5 million. This trader previously made headlines by profiting $200 million during the October market crash, indicating a strong belief in Ether's potential despite recent volatility.

Andrew Tate's recent $794,000 bet on Bitcoin has resulted in his liquidation for the 84th time on the Hyperliquid exchange, highlighting ongoing volatility in the cryptocurrency market. This incident underscores the risks associated with high-stakes trading in a fluctuating environment.

Hyperliquid's recent $314 million unlock has raised concerns about potential sell pressure in the cryptocurrency market, as noted by BitMEX co-founder Arthur Hayes, who emphasized that insider assurances cannot eliminate uncertainty surrounding this event.