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Queen Elizabeth memecoins and NFTs flood markets

Some in the crypto community have wasted no time after the passing of Queen Elizabeth II, flooding the crypto market with more than 40 new Queen-related meme tokens, and hundreds of new  NFTs in the same vein.

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Some in the crypto community have wasted no time after the passing of Queen Elizabeth II, flooding the crypto market with more than 40 new Queen-related meme tokens, and hundreds of new  NFTs in the same vein.

New tokens launched on decentralized exchanges on the BNB Smart Chain and Ethereum over the past 24 hours include names such as Queen Elizabeth Inu, Save the Queen, Queen, QueenDoge, London Bridge is Down and Rip Queen Elizabeth.

According to data from Dex Screener, the Queen Elizabeth Inu token on BSC-based PancakeSwap has since had the biggest price value gain over the past 24 hours, with an eye-watering 28,506% pump to $0.00008000 at the time of writing.

Its $391,000 worth of 24-hour trade volume pales in comparison to the Elizabeth token, however, which has seen $2.7 million worth of trade volume in just under 12 hours. The asset has also had a meteoric pump of 8,442% to sit at $0.059931.

It’s worth noting that both Queen Elizabeth Inu and Elizabeth have just $17,000 and $204,000 worth of liquidity behind them, indicating a lack of serious backing behind and a potential for short-lived pump and dump, similar to the infamous Squid Games token that crashed and burned in October last year.

Over on NFT marketplace OpenSea, the RIP Queen Elizabeth project has also sprouted up within hours of the queen passing away.

There are 520 NFTs in the collection, with each token featuring artistic renditions of the queen with sinister undertones. It appears collectors have not jumped behind the project as of yet, as it has generated just 0.06 Ether worth of sale volume worth roughly $101.

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7-Eleven South Korea to accept CBDC payments in national pilot program

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7-Eleven is set to participate in the testing phase of a central bank digital currency (CBDC) initiative, running from April to June. The retail giant’s involvement highlights the growing push for digital currency integration in everyday transactions.

The pilot program will assess the feasibility of CBDC payments at 7-Eleven stores, allowing customers to make purchases using the digital currency. The initiative is part of a broader effort to explore the real-world application of CBDCs in retail environments, potentially shaping future payment systems.

As central banks worldwide accelerate their digital currency research, private sector collaboration is seen as crucial for widespread adoption. If successful, 7-Eleven’s participation could pave the way for broader CBDC usage across retail and commercial sectors.

The outcome of the testing phase will provide valuable insights into consumer adoption, transaction efficiency, and potential regulatory considerations, influencing how CBDCs are integrated into mainstream financial systems.

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SEC and Gemini ask to pause lawsuit to explore ‘potential resolution’

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The U.S. Securities and Exchange Commission (SEC) and crypto exchange Gemini have agreed to pause legal proceedings as both sides explore a potential resolution to their ongoing lawsuit. The move signals a possible settlement in the high-profile case, which centers around Gemini’s now-defunct Earn program.

The SEC initially sued Gemini, alleging that the Earn program—designed to offer users yield on crypto deposits—operated as an unregistered securities offering. Gemini has pushed back against the claims, arguing that its operations complied with regulatory standards.

By pausing litigation, both parties may be looking for a compromise that could set a precedent for crypto lending products in the U.S. A settlement could also provide regulatory clarity for similar platforms navigating SEC scrutiny.

While the outcome remains uncertain, the crypto industry is closely watching the case, as its resolution could impact future enforcement actions and the broader regulatory approach toward digital asset lending services.

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GameStop finishes $1.5B raise to add Bitcoin to its balance sheet

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GameStop has successfully completed a debt offering, raising capital that may be used to acquire Bitcoin, signaling the company’s deeper foray into digital assets. The move aligns with its broader strategy to diversify beyond traditional retail operations and into emerging financial technologies.

While GameStop has not confirmed the exact allocation of the funds, market speculation suggests that a portion could be used to buy Bitcoin, following in the footsteps of companies like MicroStrategy. The potential investment would reinforce GameStop’s ongoing pivot toward blockchain and digital assets, an effort that began with its NFT marketplace and crypto-related initiatives.

Analysts see this development as part of a growing trend of corporations exploring Bitcoin as a reserve asset amid concerns over inflation and monetary policy. If GameStop proceeds with the acquisition, it could further validate Bitcoin’s role as a strategic investment for publicly traded companies.

The company’s board will ultimately decide how the newly raised capital is deployed. Investors and the broader crypto market are watching closely for any official announcements regarding GameStop’s Bitcoin strategy.

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