Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

1. Mantra CEO Burns 150M Tokens: Mantra CEO John Patrick Mullin is burning 150M OM tokens to stabilize price after a 90% drop.

2. 🪂Airdrop Essentials🎁: Get the latest airdrop now! Read UseTheBitcoin’s “EARN FREE CRYPTO Just by Leaving Your PC ON?! | DePINed” to learn more on how to qualify and participate in the DePINed airdrop!

3. WazirX Eyes Relaunch Post-Hack: Indian exchange WazirX plans to resume operations after a $234M hack, pending a May 13 court ruling in Singapore.

4. 💡Feature of the Day - Coinbase Launches XRP Futures: Coinbase adds XRP futures to its US derivatives exchange, offering standard and nano contracts.

   
   All this and more in today’s headlines!

📰 News Highlights:

Mantra CEO Token Burn [Source][Source][Source]

Mantra CEO John Patrick Mullin has initiated the burn process for 150 million OM tokens in an attempt to stabilize the token’s value after a steep price drop.

The move, set to complete by April 29, will permanently reduce OM’s total supply to 1.67 billion.

In addition to Mullin’s commitment, Mantra is in talks with key ecosystem partners to potentially burn an additional 150 million OM.

This total burn of 300 million OM is expected to increase staking returns by lowering the bonded ratio from 31.47% to 25.30%.

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WazirX Nears Relaunch [Source][Source][Source]

WazirX, the Indian crypto exchange hacked for $234 million in July 2024, says it is on track to restart operations pending a May 13 court hearing in Singapore.

The court will decide whether to approve the restructuring and compensation plan, allowing parent company Zettai PTE Ltd to compensate users within 10 business days if approved.

Over 90% of voting creditors have already backed the proposal, which includes issuing recovery tokens repurchased using exchange profits to repay users up to 80% of their balances.

💡 Feature of the Day: 

Coinbase Adds XRP Futures [Source][Source]

Coinbase has launched XRP futures contracts on its US derivatives exchange, expanding its regulated crypto offerings for retail and institutional traders.

These include standard contracts representing 10,000 XRP and “nano” contracts worth 500 XRP each.

Overseen by the US CFTC, these products are designed to offer capital-efficient exposure to one of the most liquid digital assets, as Coinbase continues to ramp up its derivatives portfolio.

😂 Crypto Meme of the Day: 

Meme of the day provided by @Past_Coconut_4473

And that’s it for this today.

See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com