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Student Coin has announced the launch of the Student Coin Redemption, which will see the project buy back all STC tokens belonging to holders across the ecosystem.

Discover the latest news and insights on the world of cryptocurrency with Coinpaper.com. Stay up-to-date on the latest trends and developments in the crypto space.

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Student Coin Redemption: Team Announces It Will Buy Back All Stc Tokens in the Next 5 Years

Over the past month, at least 12 Solana presale meme coins have been abandoned after raising a total of $26.7 million from investors.

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Dozens of Solana Meme Coins Abandoned After Raising Millions

Ripple Labs is preparing to file a significant legal document in response to the SEC's proposed penalties, marking a crucial moment in its ongoing lawsuit.

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Ripple Readies for Major Court Filing in SEC Lawsuit

 the launch of the Student Coin Redemption program on Apr. 9 to buy back all STC tokens from holders across the project’s platforms.

This initiative follows careful consideration by the team and marks the end of the Web3-focused development and education project. According to the official announcement by the project's team, each Student Coin refund has been calculated on an individual basis. The calculations took into account factors such as the respective purchase prices of all the tokens and whether the STC coins were received via an airdrop or not.

During the Student Coin Redemption, tokens will be purchased at a price much higher than the 

, wrote the team. All of the project’s available funds, which were initially set aside to develop Student Coin, will also be put towards the redemption process.

Founded by a group of students from Warsaw, Poland, Student Coin was initially named“ALK Token.” The crypto quickly gained traction following a series of airdrops to students at Kozminski University and other Polish institutions. This heightened interest was enough to earn the crypto a spot on the Waves Exchange, setting the stage for international airdrop campaigns. By the end of 2020, STC reached 15,000 students from over 500 universities across the globe.

The Team Pushed to Bring More Value to the Token

The team sought to keep the positive momentum going by introducing more value into the Student Coin community. This led to the establishment of the STC Academy - a comprehensive online resource that covers topics such as blockchain, crypto, and personal security within the Web3 space. 

Additional funding sourced by the team was then utilized to develop more sophisticated products such as the STC Wallet, an exchange and a terminal that students could make use of to deploy their own tokens. The years that followed saw the continued enhancement of these products, as well as the launch of 

, a fast-growing news outlet that has achieved an average monthly growth rate of around 19.75%.

Several factors influenced the final decision to bring an end to the Student Coin project. Together with how difficult it has become to allocate capital towards growing the token’s fundamental value, other hurdles, such as the legal uncertainty surrounding the crypto space, as well as the mounting pressure on the team, were the main reasons that led to the decision to launch the Student Coin Redemption.

The crypto community’s prioritization of a crypto’s speculative performance over its overall development has exerted additional pressure on the Student Coin team, the team said in the announcement. This is especially true following STC’s meteoric 13,000% rise to an all-time high of $0.06599 per token after its listing in 2019. According to the team, this rapid ascent has resulted in unrealistic expectations from some in the community.

Realizing That the Expectations Were Too High

It quickly became clear to the Student Coin team that delivering on these high expectations would prove to be extremely difficult. Products, including the STC University, STC Academy, Coinpaper, STC Wallet, and the STC Terminal, were not enough to meet the community’s expectations. Increased spending for the development of the Student Coin ecosystem also did not have the desired effect, prompting the team to re-evaluate the project’s future direction.

Regulators have turned their attention to the burgeoning crypto space following the collapses of FTX, Celsius, and Luna as well. With the crypto space continuously evolving and the regulatory uncertainty that still clouds the digital asset sector, the Student Coin team said it has been restricted in terms of developing STC and the Student Coin offering. This is the reason planned initiatives such as converting the STC Wallet into an exchange and the expansion of the STC Terminal for partner startup crowdfunding were put on hold, according to the announcement.

With all of these factors considered, the team decided it would be best to buy back and then burn all STC tokens across the ecosystem through the Student Coin Redemption. This buyback initiative will be performed simultaneously across the STC Wallet and various open-market platforms such as the centralized exchange KuCoin and the decentralized Uniswap. Holders trading in the open market will also be able to sell their STC tokens on other platforms that support the crypto. The whole process of $STC token redemption is very complex and seems to take care of every token holder, which is outstanding in the cryptocurrency world. The Student Coin community expresses its support for the team in project chats and on social media.

The 5.1 billion tokens held by the Student Coin team will also not be redeemed and will instead be burned immediately with the aim of maintaining a high level of transparency during the Student Coin Redemption process.

Certain Holders Will Be Prioritized During the Student Coin Redemption

The Student Coin Redemption is a massive undertaking, given the varying backgrounds of all of the STC token holders. These token holders range from airdrop recipients to people who purchased STC tokens at different market prices throughout the project’s 5-year existence. In an effort to accommodate all holders fairly, certain groups will be prioritized by the Student Coin refund.

Tailored strategies have been designed for each group of holders to streamline the entire process. Participants of the STC launchpad will receive preferential treatment, said the announcement. Meanwhile, members in the Premium Holder Program will receive enhanced rewards during the Student Coin Redemption.

STC Wallet users will also be prioritized, with an “Aggregated Redemption Price” already calculated for all tokens housed in the project’s official wallet. This price was calculated based on each user’s transaction history and activity level within the STC Wallet.

The Student Coin Redemption commenced on Apr. 9 at 4:00 PM (UTC). Due to time sensitivity, the project’s team has opted for a phased approach. 

Tokens within the STC wallet will need to be redeemed by Jun. 9, 2024. Meanwhile, anyone who submits a redemption request will have the deadline extended to Oct. 9, 2024. Holders holding their tokens outside of the STC Wallet will also have until Oct. 9, 2024 to exchange their STC holdings on centralized platforms. Meanwhile, the Student Coin Redemption cut-off date for holders using the decentralized exchange Uniswap V3 is Apr. 9, 2029.

Tokens that are not redeemed by the above dates and are kept in the STC Wallet will automatically be burned. The funds that were reserved for the redemption of these STC coins will then be utilized as liquidity in the open market. More specifically, the capital will be used to enhance the pricing of STC on the open market to ensure the economic stability and value retention of the crypto over time, the announcement said.

Several Options Have Been Made Available for Holders

Token holders have several avenues to exchange their tokens during the Student Coin Redemption. For anyone who has tokens in the STC Wallet, the process can be completed directly within the application. Tokens on centralized exchanges or platforms other than the STC Wallet will need to be sold on the open market. For more information regarding the different ways STC can be redeemed.

The Student Coin team also emphasized that it will no longer be possible to deposit or withdraw STC tokens with the STC Wallet after Apr. 4, 2024. This is because prices for these tokens have already been locked in based on a snapshot taken that day.

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A recent X post from ZackXBT revealed that numerous Solana meme coin projects have been abandoned after raising millions from investors. Meanwhile, Base has seen a surge in meme coin activity and transaction volume, fueled by the reduced fees from Ethereum's Dencun upgrade. Meme coins also continue to attract attention for their potential to engage and expand communities in the crypto space.

 presale meme coins have been abandoned over the past month after raising a total of $26.7 million from investors. One of the most costly abandoned meme coin projects was "I like this coin" (LIKE), raising 52,220 SOL, which is worth approximately $7.7 million. Despite launching with a market capitalization of $577 million on Mar. 17, LIKE's value plummeted by more than 90% in just the first eight hours.

The second-largest project, MOONKE, which was created by RockyXBT, also faced a similar fate. It started with a $500 million market cap but saw a drastic decline of over 99% very shortly after its launch on Mar. 20. Additionally, another project managed to raise 4,567 SOL  worth about $812,000, but completely failed to launch its token at all.

The broader meme coin market has also been showing signs of cooling, with major tokens like Dogwifhat (WIF) losing more than 40% of their value since the beginning of April. At press time, 

 was worth about $2.95 after its price slipped by 5.31% in just the past 24 hours of trading, according to CoinMarketCap. This meme coin trend and the skepticism now surrounding these tokens are very similar to the Ethereum ICO boom in 2017, which also saw many projects failing to deliver after raising huge amounts of money from investors.

Another incident happened with the meme coin Slerf (

), where the developer accidentally destroyed the entire presale allocation in a mishap, leading to a temporary surge in its popularity despite the major loss of funds. 

Memes Are Fueling Base's Explosive Growth

On the other hand, Jesse Pollak, the creator of 

, believes that memes will be instrumental in attracting millions of users to the Coinbase layer-2 network. He shared his confidence during a meme coin hackathon in New York on Apr. 20, where Pollak pointed out the growing role of memes in the on-chain economy. According to Pollak, memes have already helped onboard thousands to Base, and he believes they have the potential to expand the network's user base even more.

 in mid-March, which reduced fees on layer-2 networks, Base has seen a big increase in both meme coin activity and transaction volume. This surge caused a nearly 250% increase in Base's total value locked (TVL), reaching an all-time high of $1.61 billion on Apr. 21, according to data from 

Pollak believes that beyond mere speculation, meme coin creators are exploring very innovative ways to engage and grow their communities. This has resulted in a variety of onboarding experiments aimed at integrating more people into their cultural and economic structures. He believes that this ongoing creative outreach will be a key driver in Base's growth. He even predicts that memes will bring millions more users to the platform in the coming years.

Despite these optimistic views, a Cointelegraph 

 has cast a shadow over the meme coin ecosystem on Base. The report found that 16.7% of new Base meme coins were 

, and more than 90% had serious vulnerabilities. Nonetheless, the popularity of certain meme coins like 

, indicates a strong and growing interest in these digital assets.

 are cryptocurrencies inspired by internet memes or jokes, and they gained prominence with the launch of Dogecoin (

) back in 2013. Meme coins are known for their high volatility and community-driven nature, and they often see rapid surges in value due to endorsements from online communities or influential people, only to experience massive price drops just as quickly. These coins typically have large or unlimited supplies, which keeps their individual token prices low, allowing investors to buy millions of tokens with a rather small amount of money.

The popularity of meme coins surged during the COVID-19 pandemic, partly influenced by the meme stock phenomena like GameStop and AMC, where retail investors drove prices up dramatically. A similar sentiment carried into the crypto market, especially after a Reddit group proposed making Dogecoin the crypto counterpart to GameStop. This led to massive rallies in meme coins, spurred on by social media and celebrity endorsements. However, their prices can also plummet quickly, which was very evident with Dogecoin after a public joke by 

Despite the potential for quick profits, investing in meme coins comes with a lot of risks. Many lack fundamental economic structures, robust use cases, or technological backing, making them more speculative and volatile compared to more established cryptocurrencies like Bitcoin. Their market is prone to manipulation, evidenced by events like the Squid Game token's rug pull, where developers completely abandoned the project, leading to massive losses for holders.

The Double-Edged Sword of Memecoin Popularity

The good and the bad aspects of meme coins have led to a lot of conversations about where exactly these tokens fit in. In an episode of 

, hosts Jonathan DeYoung and Ray Salmond discussed the impact of meme coins on the cryptocurrency sector with Andreas Brekken, the founder of SideShift.ai.

Brekken shared his insights on both the advantages and challenges presented by the meme coin phenomenon. He believes that meme coins serve as an accessible entry point into the crypto world, making it easier for the average person to engage with blockchain technology. This not only educates them about cryptocurrencies but also tests and potentially improves blockchain technology's capabilities in a real-world environment.

Brekken also pointed out that the meme coin frenzy, while congesting networks like Solana, still helps improve network speed and reliability, ultimately benefiting the blockchain infrastructure as a whole. He is also quite impressed by the ability of meme coins to quickly build strong communities and shed some light on the practice among meme coin developers of burning their liquidity provider tokens to show commitment to their projects, a strategy he even suggested could be adopted by more serious crypto initiatives.

However, Brekken also acknowledged the risks associated with meme coins, comparing investment in them to gambling. With many meme coins holding no intrinsic value and a high incidence of scams and rug pulls, investors often face the potential of losing their entire investment. He did point out that the huge number of people gambling on meme coins might actually reflect much broader societal issues, like distrust in the financial system and concerns about inflation and stagnant wages.

Meme Coins Take Center Stage at Token2049

 conference held in Dubai, a panel titled "Emerging Trends in Consumer web3 Apps" talked about the major role of meme coins in the landscape of blockchain technology. The discussion mostly centered around the concept of 

 user attention, a trend that is gaining a lot of momentum in the blockchain sector, especially in the meme coin industry.

Imran Khan from AllianceDAO pointed out that many recent blockchain projects are leveraging memes to broaden their user base, with tokens being used as incentives that align with user interests. Tristan Yver, founder of Backpack, also shed some light on the growing focus on meme coins in crypto, noting their effectiveness in attracting new users to the industry. Investor Santiago Roel Santos agreed with this and pointed out that while meme coins are often dismissed as fleeting or insubstantial, they actually hold a lot of  influence and should not be underestimated.

Despite their shared recognition of the importance of meme coins in the crypto space, the panelists had a completely different view about the fundamental role of these tokens in consumer web3 applications and the broader concept of attention tokenization.

In addition to these discussions, a recent 

 by CoinGecko revealed that meme coins  outperformed all other crypto sectors in the first quarter of 2024. The top ten meme tokens yielded an average return of 1,313%, surpassing other categories like real-world assets and 

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In the latest developments surrounding Ripple, the cryptocurrency giant continues to make headlines with a series of significant events that are shaping its trajectory in the digital currency landscape. From pivotal legal battles with the U.S. Securities and Exchange Commission to strategic technological initiatives and revealing insights from its key executives, Ripple is at the forefront of discussions that could influence the future of blockchain technology and its integration into global systems and events.

Ripple vs. SEC: A Crucial Turn in a Landmark Case as Ripple Readies for Its Next Legal Move

 Labs and the U.S. Securities and Exchange Commission (SEC), a critical juncture is fast approaching. Within the next 24 hours, specifically on Apr. 22, Ripple Labs is set to file a pivotal reply to the SEC's remedies briefing. This step signals a decisive moment in a lawsuit that has riveted the cryptocurrency community and could have far-reaching implications for the digital currency landscape.

The lawsuit, initiated by the SEC, hinges on the allegation that Ripple engaged in the sale of XRP as unregistered securities. The SEC's remedies briefing, a recent development in the case, proposes substantial financial penalties and the disgorgement of profits obtained from these sales, summing up to a staggering demand of approximately $2 billion.

As the deadline looms, speculation is rife about Ripple's strategic approach to its forthcoming filing. Market analysts and legal experts are keenly watching for signs of Ripple's counterarguments, which are expected to robustly challenge the SEC's demands. Ripple's response could potentially pivot on recent judicial precedents and evolving regulatory frameworks that may tilt the legal scales in its favor.

Ripple's Chief Legal Officer, Stuart Alderoty, has already highlighted the significance of the recent SEC v. Govil case. The court's decision in that case may prove advantageous for Ripple. The ruling stated that if there is no financial loss to the buyer, the SEC might not be entitled to disgorgement from the seller. This could form a cornerstone of Ripple’s argument, emphasizing the absence of financial harm to XRP buyers and challenging the basis of the SEC's disgorgement claim.

Depending on the content of the opposition brief, particularly regarding sensitive information designated as confidential by the SEC, Ripple's filings might initially be under seal. A public, redacted version of the document is expected to be filed by Apr. 24. This procedural move ensures compliance with confidentiality requirements while maintaining transparency where possible.

Broader Implications for the Cryptocurrency Market

The outcome of this legal dispute holds considerable weight for the cryptocurrency industry at large. A decision favoring Ripple could not only vindicate its business practices but also set a precedent regarding the regulatory treatment of cryptocurrencies as securities. Conversely, a win for the SEC could lead to increased regulatory scrutiny and potentially stringent requirements for crypto enterprises.

With the SEC scheduled to file its reply brief by May 6, the legal community and investors alike are bracing for more developments. The Ripple case is not just a legal battle but a litmus test for the cryptocurrency industry’s relationship with regulatory bodies in the United States.

As Ripple prepares its response, the cryptocurrency world watches with bated breath, aware that the repercussions of this case will resonate well beyond the courtroom, potentially shaping the regulatory landscape of digital currencies for years to come.

Inside the Mind of Ripple’s CTO: David Schwartz Shares Candid Thoughts on Loyalty, Leadership, and Regret

, the Chief Technology Officer of Ripple, has made some eye-opening revelations on the X/Twitter social media platform, providing a rare glimpse into his personal sentiments and professional commitments within the blockchain giant. Known by his handle @JoelKatz, Schwartz has been a pivotal figure at Ripple, offering insights into what drives his loyalty and how he perceives his future with the company.

The Genesis of Schwartz’s Role at Ripple

In a candid disclosure, Schwartz recounted the origins of his engagement with Ripple, detailing how co-founder and former CEO Chris Larsen personally recruited him. The recruitment was heavily influenced by Schwartz's reputation for loyalty—a trait Larsen valued highly. Schwartz affirmed that his commitment to Ripple was predicated on his belief in Larsen's leadership qualities, describing him as “rational” and possessing a compelling perspective that is difficult to challenge.

Despite his loyalty to the company, Schwartz clarified that his allegiance was to Ripple as an institution, not solely to Larsen. This distinction serves as an indication of a broader professional ethos where organizational goals supersede personal loyalties.

When Work Stops Being Fun: Schwartz’s Exit Strategy

In a revelation that has sparked discussions across the tech and financial sectors, Schwartz stated that he would relinquish his position at Ripple the moment it ceased to be enjoyable. Holding a significant amount of Ripple stock, he pointed out that he isn't financially compelled to remain at the company, which gives him the freedom to leave if his work no longer brings him satisfaction.

Financial Regrets and the Ripple Stock vs. XRP Dilemma

Schwartz also touched on a personal financial decision that he now views as a misstep. Unlike Ripple’s other founders—Arthur Britto, Jed McCaleb, and Chris Larsen—who chose to receive their stakes in XRP, Schwartz opted for company stock. This decision, he now admits, was a "big mistake." His co-founders received a combined total of 20 billion XRP, a move that positioned them differently in the cryptocurrency landscape, especially highlighted during the legal battles with the SEC over unregistered securities sales.

The SEC’s Legal Battles with Ripple Executives

The backdrop to these revelations is the ongoing legal tussle involving Ripple, where the SEC has historically taken action against key figures like Larsen and current CEO Brad Garlinghouse for their roles in selling XRP to institutional investors. Although the SEC later dropped its cases against Larsen and Garlinghouse, the lawsuit against Ripple persists, continuing to cast a shadow over the company and its leadership.

Schwartz's Vision and the Ripple Community’s Response

Despite the controversies and challenges, Schwartz’s leadership at Ripple has been instrumental in navigating through regulatory and market turbulences. His recent admissions have not only shed light on his personal and professional ethos but have also sparked a dialogue within the cryptocurrency community about leadership, loyalty, and the choices that define the careers of those at the helm of blockchain innovation.

As Ripple continues to evolve in a complex regulatory and economic environment, the insights shared by Schwartz provide a more nuanced understanding of the internal dynamics at one of the leading firms in the cryptocurrency space. His future at Ripple, contingent as it is on his continued enjoyment of his role, remains a topic of interest and speculation within industry circles.

Ripple and SBI Holdings to Launch Innovative NFT Initiative at Expo 2025 Osaka

In a recent announcement that has stirred considerable excitement within the digital and physical realms alike, Emi Yoshikawa, Ripple's Vice President of Corporate Strategy and Operations, highlighted a groundbreaking initiative involving the use of the XRP Ledger for issuing non-fungible tokens (NFTs) at the forthcoming World Expo 2025 in Osaka, Japan. This development, spearheaded by Japanese financial giant SBI Holdings, marks a significant moment in the blending of technology and global cultural events.

The XRP Ledger at the Forefront of Digital Innovation

SBI Holdings plans to utilize the XRP Ledger (XRPL) to issue unique visitor NFTs at Expo 2025. These digital tokens will feature MYAKU-MYAKU, the official mascot of the Expo, and will be awarded to visitors who engage with various activities and missions throughout the event. Additionally, further NFTs can be obtained through the use of the Expo's mobile app, enriching the visitor experience and integrating a digital layer to the physical exploration of the Expo.

The initiative is not just a technological showcase but is poised to enhance the visitor experience by integrating digital collectibles with event participation. This approach is expected to significantly boost the visibility of XRPL's capabilities in handling high-volume, real-world applications. According to XRPL validator Vet, the deployment of NFTs at such a large scale is set to demonstrate the ledger's robustness and utility in real-world applications beyond mere speculative assets.

Historical and Cultural Significance of World Expos

World Expos have a storied history of highlighting advancements in science, technology, and economics, with the first such event held in London in 1851. These Expos are monumental, held every five years, and regulated by the Paris-based Bureau International des Expositions since the late 1920s. Japan, which previously hosted Expos in the 1970s and 1990s, aims to continue this tradition of showcasing global innovations and fostering international dialogue.

Expo 2025 Osaka: A Convergence of Technology and Culture

Scheduled from April to October 2025, Expo 2025 will be staged on an artificial island in Osaka Bay near the Yodo River. This setting is symbolic of Japan's forward-thinking approach to technology and environmental management. The theme for the Expo—"Saving, Empowering, and Connecting Lives"—reflects a commitment to addressing global challenges through innovation and cooperation.

Implications for Ripple and the Cryptocurrency Sector

 and SBI Holdings at Expo 2025 shows the growing acceptance and integration of blockchain technologies into mainstream and high-profile international events. For Ripple, this represents a significant opportunity to showcase the versatility and efficiency of the XRP Ledger, potentially encouraging broader adoption in various sectors, including entertainment, tourism, and event management.

With an anticipated attendance of 28 million visitors, Expo 2025 is set to be a landmark event with substantial implications for the future of digital tokens in enhancing user interaction and engagement in large-scale public events. As the Expo approaches, the eyes of the world will not only be on the technological and cultural exhibits but also on the innovative use of NFTs, setting a precedent for future global gatherings. This initiative may well mark a pivotal moment in how technology is leveraged to create a more interactive and memorable experience for attendees of major global events.