Wawasan Hayes datang pada saat ekonomi global menghadapi ketidakpastian signifikan, dengan penekanan khusus pada sektor perbankan AS dan pasar properti.
Harga BTC ke US$1 Juta
Dalam tweet-nya, Hayes menyarankan adanya kontaminasi finansial yang akan datang, mengisyaratkan situasi yang genting dari ekonomi AS dan sektor perbankannya. Inti dari argumennya berputar pada respons potensial Federal Reserve terhadap ketidakstabilan finansial yang muncul.
Meskipun The Fed enggan untuk memotong suku bunga, Hayes berspekulasi bahwa bisa ada perubahan kebijakan mengenai persyaratan kolateral untuk properti komersial (CRE).
Ia menyarankan bahwa dengan menjadikan CRE sebagai kolateral yang memenuhi syarat untuk pinjaman, bank sentral AS pada dasarnya akan terlibat dalam bentuk pelonggaran moneter tanpa perlu secara resmi memotong suku bunga.
“Manuver ini dapat dilihat sebagai bentuk pencetakan uang yang terselubung, memungkinkan The Fed untuk mempertahankan fasad ekonomi yang kuat,” ungkapnya.
Hayes secara langsung merujuk pada respons The Fed dan Departemen Keuangan AS terhadap krisis finansial sebelumnya, terutama krisis keuangan 2008, di mana penurunan harga properti AS yang signifikan menyebabkan kebangkrutan bank secara global.
Respons saat itu, yang secara kolokial diringkas sebagai pencetakan uang berlebih yang melibatkan pelonggaran kuantitatif dan paket bailout masif untuk menstabilkan ekonomi. Hayes menyiratkan bahwa strategi serupa bisa digunakan sebagai respons terhadap gangguan finansial saat ini atau yang akan datang.
Masuk ke ranah kripto, Hayes mengekspresikan prospek bullish terhadap Solana (SOL), menyarankan bahwa kekacauan perbankan potensial selama akhir pekan bisa menyajikan kesempatan yang menguntungkan bagi investor untuk terlibat kembali dengan kripto ini.
“Saya pikir ini mungkin saatnya untuk [SOL] kembali ke keretanya. Mungkin setelah beberapa bank AS mengalami kegagalan akhir pekan ini,” ujar Hayes dalam tweet lainnya.
Sentimennya terhadap Bitcoin bahkan lebih optimistis, dengan prediksi berani tentang harga BTC untuk mencapai US$1 juta per koin.
Prediksi ini didasarkan pada keyakinan bahwa Bitcoin, sebagai aset terdesentralisasi, menawarkan transparansi dan kekebalan terhadap jenis manipulasi kebijakan moneter yang ia tuduhkan pada bank sentral.
Analisis Hayes mengangkat beberapa poin kritis untuk dipertimbangkan. Pertama, ia menyoroti debat berkelanjutan mengenai efektivitas dan konsekuensi dari kebijakan bank sentral, terutama dalam waktu krisis ekonomi.
Saran bahwa The Fed mungkin akan beralih ke metode tidak langsung dari pelonggaran moneter untuk mendukung ekonomi tanpa tampak melakukannya secara langsung menekankan dinamika kompleks dari kebijakan moneter dan persepsi publiknya.
Kedua, komentarnya mencerminkan sentimen yang berkembang di antara para pendukung kripto bahwa mata uang digital menawarkan alternatif yang layak untuk sistem keuangan tradisional, yang dilihat sebagai rentan terhadap manipulasi dan ketidakstabilan.
Hayes menempatkan Bitcoin dan, dengan perpanjangan, kripto lain sebagai bukan hanya kendaraan investasi, tetapi sebagai kritik fundamental dan alternatif terhadap kebijakan moneter konvensional. [st]
Wednesday, February 7, 2024 – In a landmark launch for the Jupiter DEX, a new Solana meme coin called Smog (SMOG) has been revealed via a fair launch ahead of an upcoming major airdrop event.
Much to the excitement of JUP holders and traders on the fresh-faced Jupiter DEX, the new Smog token promises the launch of a new saga for meme coins on Solana, with an ambitious airdrop campaign.
The Smog token pool went live at 16:00 UTC on January 7.
View the latest Smog price chart on Birdeye here.
Welcome to #SMOG, noble adventurers! ????✨ The time has come for a grand ceremony under the watchful gaze of the dragon! ???? The greatest #SOL #Airdrop in history, where loyalty is rewarded with treasures as radiant as the treasures of gold. ???????????? Let the quest begin! ???? pic.twitter.com/22npUXx2Z5 — SMOGToken (@SMOGToken) February 6, 2024
Building on the success of recent breakout launches on Solana such as Myro, Bonk and Dogwifhat, Smog token is aiming to ignite sensational success with a supercharged airdrop campaign.
Smog Token Explained: How Will SMOG Airdrop Campaign Ignite Earthquake Rally?
Leading the charge with the rallying call “No meme coin can survive the fiery flames of SMOG”, the innovative $SMOG will grant holders access to an expert crypto community dubbed ‘The Dragon’s Court’.
The aim of this hidden community is to unlock unstoppable virality in the meme coin vertical, with the promise and excitement of interactive sustained multi-airdrop campaigns that gamify the experience for the user.
This interactive element involves a user buying and holding $SMOG in order to generate and earn airdrop points, although the specific rewards and plans for the airdrop campaign still remain shrouded in mystery.
To add to the fun, $SMOG holders will be able to qualify for their slice of a community bounty generated by the campaign, doubling down the holding incentive for investors.
SMOG Token Aims To Unlock Major Virality Through Airdrop Campaign Community – Huge 50% of Token Supply Designated to Marketing
A closer look at the project’s tokenomics reveals the effort being put by the team into unlocking viral success for the airdrop campaign, with a huge 50% slice of supply designated for use in marketing efforts – it’s clear the Smog developers are cooking up something big.
This is matched by a respectable 35% of supply being allocated for future airdrop rewards – alluding to the potential wealth of the airdrop prizes ahead.
Furthermore, with tokenomic dynamics reducing the circulating supply, SMOG token has a much stronger comparative start than previous Solana meme coin pumps such as BONK – which still stands at an incredible +862% YTD despite its retracement.
Discover The Dragon’s Lair: Exploring Smog Token’s Extensive Roadmap
Looking forward to the future of the project, an extensive roadmap can be found, which features a number of exciting milestones ahead.
Notably, the launch of a staking feature could hint at airdrop plans ahead, and there is also comment on a possible burn mechanism alongside multiple future airdrop launches.
Uniquely, the project also lists the milestone target of achieving 10,000+ so-called ‘Loyal Chosen’.
To join this elusive and mysterious group, holders have to be chosen and then pledge to the realm of SMOG through a number of community initiation rituals – with the promise of supercharged airdrop rewards.
How to Buy SMOG Token and Participate in SMOG Airdrop Campaign?
In order to participate in the SMOG airdrop campaign, traders will need to use a Solana-compatible wallet such as Phantom.
Then using SOL, USDT, or BONK tokens users can swap for Smog via the Jupiter DEX aggregator or Birdeye.
To boost your chances of being selected for the Loyal Chosen and to increase your airdrop earnings, take on the challenge of completing the community task list on Zealy.
"You can never have too much Bitcoin... we're big bitcoin bulls," Saylor said in response to his company's 158,400 BTC total holdings. ".
Then he talked about whether investors' interest in MicroStrategy stock (MSTR) would be impacted by the potential approval of a spot Bitcoin ETF. Said Saylor:.
"I believe it will be beneficial. It will speed up adoption as well as Wall Street's institutional awareness-building and education campaigns to explain Bitcoin to the 99 percent of investors who are unaware of it. ".
He called MicroStrategy a “differentiated offering,” pointing out that his company leverages smart leverage to produce a tax-deferred Bitcoin premium for its investors without charging a fee. This was described by him as a "pretty attractive" substitute for a spot Bitcoin ETF.
Saylor wrapped up by talking about Bitcoin's impending halving, which in 2024 will cut miner block rewards by half. Saylor pointed out that as a result of this development, the quantity of Bitcoin that miners sell to the market is probably going to decrease from $12 billion to $6 billion, which will raise demand for already-existing Bitcoin. He said that the halving, along with the demand generated by ETFs, is the reason he and many others are "fairly bullish over the next twelve months.". ".
Under "adult supervision," Bitcoin can grow tenfold.
In addition, CNBC brought up a number of current cryptocurrency-related issues, such as Israel's prohibition of Binance accounts linked to Hamas and Sam Bankman-trial Fried's.
Saylor stated that the cryptocurrency industry needs to "migrate to adult supervision," with Wall Street and big banks acting as custodians of the market, even though he did not address those issues directly. Additionally, he argued that Bitcoin should replace altcoins as the only cryptocurrency that is accepted by all. He declared:.
"I believe the industry moves to the next level and we 10X from here when it shifts its focus away from the shiny little tokens that have diverted attention and destroyed shareholder value.". ".
Saylor held the interview just one day following the release of MicroStrategy's quarterly financial results. The company stated there that it now possesses more than $4 billion in Bitcoin after purchasing $167 million since the end of Q2 2023.
2020 saw MicroStrategy begin purchasing Bitcoin for the first time. Overtaking other purchasers like Tesla and Marathon, it is by far the publicly traded company with the most Bitcoin.
.
Dissolving and distributing the majority of its assets to tokenholders, the Aragon Association is one of the largest cryptocurrency projects that builds tools to support decentralized governance.
In a blog post published on November 2, the Aragon Association (AA) declared that it would be dissolving and that, as part of the process, tokenholders would receive the majority of its assets. Notably, tokenholders will receive 86,343 Ether (ETH), which is estimated to be worth $155 million, from the AA's Treasury.
Tension was caused by "bureaucratic complexities, misaligned stakeholders, and failed attempts at modifying governance," which are among the internal issues the AA is dealing with at the time of this decision. Under new, more focused leadership, the AA decided to start over completely in an effort to protect and further the project's goal.
We would like to provide all @AragonProject stakeholders with an important update. A resolution was passed directing the following: - Use the majority of the Treasury to enable all ANT holders to exchange their ANT for Ethereum.
Eliminate the AA.
Continue the mission in a structure that is product-focused: https://t . co/S0GjRtzhZJ — November 2, 2023, Aragon Association (@AragonAssoc).
Years of experimenting with various governance initiatives and the difficulty of striking a balance between the token's market capitalization and the Treasury's expansion also had an impact.
With a fixed redemption rate, The AA will redeem ANT tokens for ETH.
The AA intends to transfer 86,343 Ether (ETH) to an Ethereum redemption contract, which is estimated to be worth $155 million. With this deployment, holders of ANT tokens can exchange them for ETH at a fixed rate of 0.0025376 ETH per ANT.
Redeeming all outstanding circulating supplies is the aim of the AA. The redemption period for token holders ends on November 2, 2024, after which time they will no longer be able to do so.
Any remaining ETH will be allocated to a new structure with a focus on products, and the redeemed ANT will be burned at the conclusion of the redemption period.
The Aragon Project will implement a new leadership style and a product-focused organizational structure to further its mission within decentralized organizations (DAOs).
The goal of the Aragon project, which is to develop safe and adaptable tools for decentralized organizations (DAOs), will nevertheless continue with a new executive team and a more compact, product-focused organizational structure.
As part of the new arrangement, a Product Council made up of professionals in the field will be established to provide direction for the creation and management of Aragon's DAO framework. ASF and the Aragon OSx team representatives will seed it. Furthermore, a business consisting of the present Aragon OSx team will carry on producing goods.
This restructuring is intended to give users and partners—who are most in line with the project's goals—the ability to take the initiative. In addition to allocating funds and supervising Aragon OSx governance, the Product Council will provide recommendations on the priorities for product development.
The Aragon Network, a new digital jurisdiction, will host a dispute resolution system. Aragon raised approximately $25 million in 2017 through a successful ANT sale, which raised 275,000 ETH. Launched in 2018, the project's grants program, Aragon Nest, provided funding to a number of initiatives within the Ethereum network.
By obtaining ANT tokens and using their voting power to overrule the AA, the "Risk-Free Value (RFV) Raiders" made a determined attempt earlier this year to take over the Aragon treasury. This bold move was classified by the AA as a "51 percent attack.". ".
The AA chose to scrap plans to give tokenholders governance authority in response to this circumstance.
.
Three of Sam Bankman-Fried's former close friends and coworkers have testified against him, possibly resulting in little to no jail time for them.
Important witnesses in Bankman-trial Fried's included Caroline Ellison, CEO of Alameda Research; Gary Wang, co-founder of FTX; and Nishad Singh, chief engineer of FTX.
With regard to the transfer of billions of dollars' worth of FTX customer funds to Alameda, a hedge fund that Bankman-Fried primarily owns, all three admitted to taking part in fraudulent activities that were carried out under his supervision.
Because of their cooperation agreements with the prosecutors, which led to their guilty pleas, their testimonies carried weight.
Cooperating witnesses usually get off lightly, especially if their testimony leads to the conviction of a well-known person.
According to a Bloomberg report, Bankman-Fried, a well-known figure in the cryptocurrency industry, could receive a lengthy prison sentence if found guilty in March.
Singh, Wang, and Ellison Will See Minimal to No Prison Terms.
Ellison, Wang, and Singh are probably going to serve little to no time in prison for their cooperation, according to legal experts familiar with the case who spoke with the media.
They might still experience other repercussions, though. In addition to ordering victims to make restitution payments, the government may demand the return of gains obtained unlawfully.
The financial burden on the three witnesses could be significant, considering the government's claim that FTX customers lost billions of dollars.
For instance, due to his role in the company's catastrophic collapse, Andrew Fastow, the CFO of Enron, was forced to turn over $20 million.
Ellison, Wang, and Singh might have difficulties reestablishing their careers even if they are able to avoid going to jail.
Their connection to the demise of FTX and the ensuing legal proceedings may cause them to lose favor with prospective employers.
All three have strong educational backgrounds from esteemed universities, but because of the perceived risk they represent to investors, they might not be allowed to work in industries like finance, cryptocurrency, or any other area where handling other people's money is involved.
Their ability to function at the same level inside an organization as they had in the past is something that worries Chris Rice, a partner with the tech executive recruiting firm Riviera Partners.
Their involvement in FTX's demise may have damaged their reputation, which could limit their future opportunities.
Their actions may also have long-term financial repercussions.
Significant assets, including a multimillion-dollar home and priceless shares in an AI startup, that Singh accumulated while working at FTX and Alameda have already been agreed to be given up by Singh.
The US. S. Those involved may find it difficult to completely move on from the consequences of their actions, as the Justice Department has the power to pursue restitution payments for up to 20 years.
.
The US. S. In its lawsuit against Do Kwon and Terraform Labs, the Securities and Exchange Commission (SEC) has asked a federal judge for a summary judgment.
There is "no genuine dispute as to any material fact," according to the SEC's filing in support of its allegations against Do Kwon and Terraform Labs.
Do Kwon and Terraform Are Taking Part in the Securities Sale.
The US SEC asserts that there is no question about the fact that buyers invested money using both fiat money and cryptocurrency, and that Do Kwon and Terraform Labs sold securities. The document also stated that the market lost $45 billion as a result of Terra's collapse.
The securities regulator said that investing a collective sum of money in a business with the promoters' efforts expected to generate the majority of the profits is compliant with the Howey test. If a transaction is to be classified as an investment contract, it must pass the Howey test, which is an important legal standard.
Additionally, according to the SEC, Kwon and Terraform had made false claims and engaged in fraudulent activity.
The regulator restated claims that investors were misled about the stability of the UST stablecoin. Concealing its arrangement of outside intervention, the company misrepresented its algorithm as a means of stabilizing prices.
The SEC argues that because of these actions, their statements regarding the efficacy of the algorithm were misleading and omitted important details.
The SEC's arguments were strengthened by the fact that investor wealth was significantly lost as a result of Terra's collapse in May of last year.
The Founder of Terraform Is Still in Montenegro Prison.
Do Kwon's defense team had earlier pleaded with the court to find in their favor, claiming the SEC had not provided enough evidence to support its claims that securities were being offered.
Currently serving a sentence for document forgery in Montenegro, Do Kwon was caught in possession of forged passports.
Daniel Shin, a co-founder of Terraform, blamed Do Kwon's poor management for the company's collapse during his trial in South Korea. Two years before the company's demise, he claimed to have cut ties with it and its operations.
.
According to the Kremlin, transfer volumes have doubled and there has been a threefold increase in the number of cryptocurrency transactions in Russia in 2023. ".
In an interview with the Russian media site Izvestia, Rosfinmonitoring's chief, Yuri Chikhanchin, made the assertions.
Rosfinmonitoring, formerly the Federal Financial Monitoring Service, is a Kremlin-run organization that fights the nation's money laundering and terrorism funding issues. Chikhanchin expressed:.
We are witnessing a noteworthy volume of cryptocurrency transactions: Over the course of the year, the volume of transactions has increased multiple times. Based on the information we have, more than 185,000 [crypto] transactions were made in Russia during the first nine months of 2023. ".
The organization declared that it had used its monitoring tools to identify 60,000 cryptocurrency transactions in the first nine months of 2022.
Conceding that “the volume of transactions” had “almost doubled” this year, Chikhanchin added that Russians are now sending and receiving more cryptocurrency than they have ever done before.
Russian Lawmakers Seek to Prohibit Individuals from Mining Cryptocurrency ???????? According to a prominent member of the Russian parliament, the goal is to prevent individuals from engaging in cryptocurrency mining, while permitting industrial miners to do so. November 1, 2023, CryptoNews Russiahttps://t . co/O50zmLC1UR — Cryptonews . com (@cryptonews).
And he pushed the government to expedite the long-awaited crypto regulation, which has been on hold due to a standoff between the Ministry of Finance, which is more progressive, and the Central Bank, which is anti-crypto. Chikhanchin expressed:.
Our position is that decisions should be made as soon as possible. If the use of cryptocurrencies for payments is approved or outright prohibited, we already know how we will operate. But we must comprehend the game's guidelines. It's imperative that a choice be made right away. ".
How Is Cryptocurrency Transaction Tracked in Russia?
Chikhanchin led the creation of a tool that the organization says can de-anonymize and track cryptocurrency transactions. Chikhanchin was appointed head of Rosfinmonitoring in 2012.
Transparent Blockchain, as the tool is known, was co-developed by one of the largest commercial banks in the nation, VTB, according to Rosfinmonitoring.
According to Chikhanchin, Russia's foreign allies and commercial banks have recently been given access to this tool. He stated:.
Several nations in Central Asia are presently introducing transparent blockchain technology. Also expressing interest are states in Latin America, Africa, and the Arab world. It enables banks to comply with cryptocurrency regulations. It's being used by financial institutions. ".
With regard to "more than 30 cryptocurrencies," the Rosfinmonitoring head clarified that the tool "makes it possible to identify" both crypto "senders and recipients.". ".
In order to "create a unified database" of "gray addresses," or cryptocurrency wallets linked to suspected money launderers and criminals, he continued, the agency was collaborating with its domestic partners.
In addition to claiming the agency was keeping an eye on about 25,000 Russian cryptocurrency holders, Chikhanchin stated that this database currently contains information on about "19,000 wallet addresses."
.
Over a quarter of a million people have downloaded Worldcoin's cryptocurrency wallet app, the World App, in just six weeks since its release.
One of the most well-known hot wallets worldwide, World App has over 4 million downloads in just six months. Worldcoin (@worldcoin) November 1, 2023 https://t . co/GTq5RmGUPl.
World App reported 500K weekly active users and 100,000+ daily active users in an official statement on November 1. In the past six months, the number of monthly users has increased by 50% to 1 million.
The development and management team behind World App, Tools for Technology (TFT), reported that over 22 million transactions have been made using the self-custodial wallet by active users.
More than a million people use World App each month, and there have been 22 million transactions and 4 million downloads. Pretty good for six months ???? pic . twitter . com/pagXxTfc8E — Tools for Humanity (@tfh_technology) November 1, 2023.
The main cause of this growth is the most recent update to the app, which reduced transaction costs and increased scalability for users.
Global Inspection Expands Worldcoin's Usage.
On July 24, 2023, Worldcoin formally launched following three years in the testnet and development phases.
Now, the Worldcoin project is operational. Pic by Worldcoin (@worldcoin) on July 24, 2023, at ..com/xZXG4w56Ps.
Sam Altman, CEO of OpenAI, co-founded the platform, which declared its intention to offer users a crypto token, a verified digital identity, and a feature-rich wallet app.
Major players in decentralized finance (DeFi) and cryptocurrency enthusiasts expressed disapproval of the digital ID platform's announcement.
Twitter's (now-X) former CEO, Jack Dorsey, minimized the platform's objectives, calling them fragile and unachievable.
July 24, 2023 — Jack (@jack) — cute https://t . co/VbsX3KcKds "Worldcoin is an attempt at global scale alignment...".
The concept behind Worldcoin was intended to be a scam structure, as Yan, the co-founder of Swan's cryptocurrency investment platform, repeated.
There was not a single encouraging response to this notice of scam. — Yan | swan . com (@skwp) July 24, 2023 https://t . co/IXIv2pstJE.
After overcoming early setbacks, the digital identity platform developed to offer traders and investors essential use cases.
The platform unveiled the World App, its first-ever cryptocurrency wallet, on May 8. Its purpose is to allow users to conveniently access and store WLD, the platform's native cryptocurrency, and other Ethereum assets by using their digital identity.
We announced on Monday that World App, the first Worldcoin wallet created by @tfh_technology ., will go live on May 13, 2023. — Worldcoin (@worldcoin).
In order to optimize inclusivity, the digital ID platform supported current smartphones (96.5% compatible with iPhones and 98.2% compatible with Androids) and allowed users to personalize their wallet app to their preferred languages.
By using a Layer 1 and Layer 2 gas fee structure, Worldcoin also reduced the cost of their app.
In order to optimize the Groth16 proof verifier in the gnark library for both L1 and L2 gas consumption, Worldcoin project contributors have created and made available for public use an optimization technique. 2023 September 20 — Worldcoin (@worldcoin) https://t . co/p1tUnqQJSf.
Despite the remarkable features of mobile wallets, governments and regulators from Germany, Argentina, France, the United Kingdom, and Argentina are continuing to closely monitor them.
Kenya is the most recent nation to suspend the digital identity platform due to growing apprehensions regarding data collection methods through orbs.
Using the orbs device, Worldcoin requires users to scan their retinas for verification before granting them a digital ID and awarding them with WLD tokens.
As part of its ongoing efforts to protect user data and work with regulatory bodies, the platform has stated repeatedly that it either deletes or securely encrypts user data.
.
As per the Wall Street Journal, Binance intends to terminate its collaboration with the payment service provider Advcash, thereby discontinuing the transactions based on rubles. The cryptocurrency exchange is continuing its strategy to leave the Russian market with this action.
The partnership between Binance and Advcash began in 2019. Customers of Binance were able to deposit and withdraw rubles, which made transactions easier for Russian traders who used the service.
Customers could transfer money from the sanctioned Russian banks to Binance using Advcash. Connectivity to "independent exchange providers" on the Advcash website allowed users to transfer money from their Russian bank accounts to the platform. After that, users could transfer money between their Binance and Advcash accounts.
Regarding ending the partnership, an Advcash representative stated that they had not heard anything new from Binance. Nonetheless, the situation that is developing is similar to the change in Binance's operational approach in Russia.
The Compliance Exit of Binance from Russia.
The cryptocurrency exchange CommEX will purchase Binance's Russian operations, the company announced in September. Considering the constantly changing legal environment surrounding cryptocurrencies, this was a major step in Binance's effort to adhere to international regulatory standards.
The departure was motivated by compliance, as Binance's Chief Compliance Officer, Noah Perlman, highlighted. Perlman said on September 27 that "as we look toward the future, we recognize that operating in Russia is not compatible with Binance's compliance strategy.".
Binance's adherence to regulatory standards was exhibited through this realignment of operations. As a key turning point in its global business strategy, Binance is demonstrating its commitment to a compliance-driven business ethos by choosing to withdraw from its partnership with Advcash for the ruble payment.
.
The Inter-Blockchain Communication Protocol of Cosmos now has a token tied to Bitcoin thanks to a Nomic upgrade that was recently finished.
Some announcements on October 1st stated that an update integrating Bitcoin (BTC) into the Cosmos ecosystem was finished. 32.
The transfer of nBTC, a token that represents 1:1 ownership of Bitcoin, is now possible via Cosmos' Inter-Blockchain Communication Protocol (IBC), the company announced in a tweet. Cosmos claimed that Nomic, a different organization, made this feasible while it finished its interchain upgrade.
Cosmos continued, "Nomic's non-custodial Bitcoin bridge is now "fully functioning," expanding its reach through IBC throughout the blockchain sector.
Nomic itself declared that nBTC is accessible on Kujira, a decentralized cryptocurrency ecosystem, and Osmosis, a leading Cosmos decentralized exchange.
According to Nomic's official dashboard, $105,900 in Bitcoin (3 BTC) have already been bridged to the network. Only 1.85 BTC ($63,109) had been bridged one day prior to the upgrade, according to Atlas Staking, a genesis validator on Nomic. (31). The 21 BTC initial maximum capacity is currently valued at over $737,000.
October saw advancements with the upgrade.
Nomic clarified in an October. 3 announcement that the most recent version enables users to use nBTC on different Cosmos applications and deposit BTC.
Furthermore, according to Nomic, until Cosmos' most recent update—dubbed the nBTC Interchain Upgrade—there were not many seamless and decentralized methods to use Bitcoin. As an alternative, Cosmos is renowned for establishing connections with a number of different blockchains and resources, such as Ethereum (ETH) and its different ERC-20 tokens.
At the beginning of October, Nomic announced that it had completed some upgrades ahead of schedule, even though the full upgrade that added support for nBTC on Cosmos was not finished until the end of the month. Other updates indicate that in January 2022, Nomic introduced nBTC, and in July of the same year, it launched a staking network for its NOM token.
On October, Nomic also offered insights about the project to CryptoSlate. Three. A representative announced that the bridge had undergone security upgrades and that the team plans to eventually transfer some authority to a decentralized autonomous organization (DAO).
.
The German Federal Financial Supervisory Authority (BaFin) reportedly granted cryptocurrency custodial company BitGo a custody license, according to Financial Magnate's report on Nov. 26. 1.
As per BitGo Europe's managing director, Dejan Maljevic, the licensing signifies a noteworthy achievement for the company and emphasizes the crucial role that BaFin plays in establishing regulations surrounding cryptocurrencies.
As a major global trendsetter in cryptocurrency regulation, BaFin is acknowledged. According to reports, Maljevic stated, "It creates a secure regulatory framework while enabling the progress that digital currencies entail.".
Prior to this licensing, BitGo helped its clients protect their cryptocurrency holdings under BaFin's oversight via a temporary agreement set up in 2019.
This progression also continues BitGo's recent string of successful developments. The company raised $1.75 billion in valuation in August after securing $100 million in a funding round. CEO Mike Belshe noted at the time that "regulatory safety is just on everybody's minds right now," emphasizing the value of having a license and following regulations. ".
In order to comply with the New York State Banking Law and function as a qualified custodian independently and under regulation, BitGo obtained a New York Trust license in March 2021.
The role of Germany in the European crypto economy.
Germany is regarded as having one of the most accommodating crypto-regulatory frameworks in all of Europe.
This places the country as the second-biggest cryptocurrency economy in Europe, according to a recent Chainalysis analysis. Germany was also named the world's most crypto-friendly nation in a 2022 CoinCub ranking, which cited the country's robust legal frameworks and regulatory clarity.
In light of this, the nation passed laws enabling businesses to issue cryptocurrency shares. In addition, a number of measures have been developed by the nation's regulatory bodies to safeguard individuals within their purview.
Large, established financial firms such as Deutsche Bank AG have consequently applied to the authorities for licensing related to cryptocurrencies.
Though the region is pro-crypto, cryptocurrency companies like Binance and WorldCoin have had trouble there.
.
With the purchase of an additional 155 Bitcoin at a cost of $5.3 million, the well-known business intelligence and software company MicroStrategy has demonstrated its unwavering commitment to the cryptocurrency.
The company bought an extra 155 bitcoins for $5.3 million in October, according to information disclosed by Michael Saylor, chairman and founder of MicroStrategy, on November 1. With Bitcoin's price rising and having recently hit an annual high of $35,000, this announcement comes at a positive moment in time.
In a filing made just over a month ago, the business revealed that it had paid $147.3 million for 5,445 bitcoins between August 1 and September 24, or an average price of $27,053 per bitcoin.
With a sizable $250 million Bitcoin investment, MicroStrategy made its debut in the market in August 2020. The business has steadily increased its bitcoin holdings ever since, creating a treasury reserve strategy that currently has over 158,400 bitcoins.
With an estimated valuation of $5.44 billion as of October 31, MicroStrategy has amassed an impressive holding of 158,400 Bitcoin, which it purchased at an average cost of $29,586 per Bitcoin as of October 31.
With total revenues of $129.5 million, up 3% from the previous year, the company's financial performance is still strong. Interestingly, software and subscriptions account for $66 million of this revenue.
For $167 million, MicroStrategy purchased 6,067 bitcoins in the time after the second quarter ended. The strategic acquisitions of Bitcoin by MicroStrategy have proven profitable, as the digital asset's price increased in October and at one point approached $35,000.
Momentum is building that spot Bitcoin exchange-traded funds (ETFs) may soon get the required regulatory approval, potentially drawing large investment. At the moment, Bitcoin's value is hovering just below this level.
In addition, Saylor disclosed on X that MicroStrategy currently owns 158,400 bitcoins, hinting at the impending publication of the business's third-quarter earnings call.
MicroStrategy's Chief Financial Officer (CFO), Andrew Kang, stated:.
By adding 6,067 bitcoins since the end of the second quarter, we have now increased our total bitcoin holdings to 158,400. Particularly in light of the encouraging prospect of perhaps greater institutional adoption, our resolve to purchase and retain bitcoin is unwavering. ****.
Amid ongoing cryptocurrency expansion, MicroStrategy reports a $900 million paper gain on its Bitcoin holdings.
MicroStrategy did, however, also disclose in its November results filing that it has realized a significant paper gain of $900 million on its substantial holdings of Bitcoin, which total 158,400 BTC. The optimism surrounding the possible approval of spot Bitcoin exchange-traded funds (ETFs) is what is driving this value surge.
Since the third quarter, the company has also added 6,067 bitcoins to its holdings, with an additional 155 in October.
Despite a 3 percent year-over-year increase in revenue to $130 million for the quarter, MicroStrategy still posted a $143 million net loss. At $33.6 million and $109.6 million, respectively, income taxes and digital asset impairment losses were cited as the causes of the losses.
The company reported a net loss of $27 million for the same period last year, so this financial result is a sharp contrast.
MicroStrategy jumped at the chance to buy 6,067 BTC at an average price of $27,590 despite the fact that the price of Bitcoin fluctuated during the quarter, dropping from $30,480 to $26,970.
With a 28% increase in subscription services and a 16% increase in software licenses year over year, the company further demonstrated its confidence in its artificial intelligence-integrated business analytics products.
Le claims that MicroStrategy is in a good position to gain from the characteristics of the Bitcoin market as well as the expansion of its business intelligence division. As a result of these events, MicroStrategy's stock price (MSTR) increased in after-hours trading to $438, up 2.7 percent, as per Google Finance.
.
One instance of cryptocurrency becoming popular is Matias' Buenos Aires-based online store. The majority of Ditel customers purchase electronics with stablecoins.
Yet contrary to what most cryptocurrency insiders would probably assume (or hope), they're not using the blockchain. Argentines are not using the Bitcoin network to pay for their iPhones. They also don't use Ethereum.
They use Tron as payment.
About 95% of his customers, according to Matias, selected USDT on Tron as their method of payment. Matias requested that The Defiant only use his first name in order to protect his privacy. The shop owner expressed his belief that the network's popularity was largely due to Tron's cheap fees and speedy transactions.
Not Only in Argentina.
This Argentine store reflects a larger trend that indicates Tron is becoming more and more popular in emerging economies.
During the bear market, there has been an increase in global Google searches for "USDT Tron," with Nigeria, Côte d'Ivoire, and Pakistan showing the highest level of interest, respectively.
Google searches for "USDT Tron" worldwide.
On the other hand, since early 2022, searches for "USDT Ethereum," where the stablecoin is also the biggest dollar-pegged asset, have been trending lower. Though Tron's market capitalization is significantly smaller than Ethereum's, the two are currently tied for the most searches using "USDT.".
searches for "USDT Tron" (blue) versus "USDT Ethereum" (red).
Tron is the most active stablecoin right now, thanks to activity in emerging markets.
Weekdays DeFi Daily | DeFi Alpha Premium Content.
The Weekly DeFi Alpha Letter.
Weekly podcast transcript for Defiant.
Saturday Inbox Dump.
Weekly Recap | Sunday: Searching for Alpha? Upgrade to The Defiant's premium membership to get access to our DeFi Alpha community. Begin at no cost.
A chart that showed the Tron blockchain as the undisputed leader for fiat-backed stablecoin transactions in a recent stablecoin paper from a major hedge fund attracted attention.
The study revealed Tron with over 2.4M weekly active addresses interacting with stablecoins. It was written by staff members of Brevan Howard, a hedge fund with $23.4B in assets under management and a growing interest in cryptocurrency.
Activity by Chain for Stablecoin.
The amount exceeded both the total for Ethereum and Layer 2 applications developed on Ethereum, such as Arbitrum and Optimism.
Gateway for Payments.
Tron is being widely used as a network for simple transfer payments, according to key indicators.
The median USDT transaction on Tron has varied between $100 and $300 over the last three years, according to data from Allium, a data provider that collaborated with the Brevan Howard team to create the stablecoin report. The market capitalization of USDT, the largest stablecoin in cryptocurrency, is $84 point two billion.
Additionally, the distribution of amounts above and below that range was evenly distributed, indicating that a variety of parties are using Tron to send USDT. However, according to Allium's data, the majority of Ethereum's stablecoin volume was made up of big transactions that cost more than $100,000.
Reduced Transaction Costs.
One significant benefit of Tron over Ethereum is its lower cost of use. Based on Etherscan, sending USDT on Ethereum currently costs roughly $3.50 at this writing.
It is difficult to find information about Tron transaction fees, but The Defiant's test transaction on the network indicated that sending USDT cost about 13.7 TRX. The native token of Tron is called TRX. With the current exchange rate of $0.095 the transfer should have cost about $1.30.
A Successful Transaction with Tron.
According to Matias, the network's appeal was partly fueled by Tron's cheap fees and speedy transactions.
Diego Diaz, an Argentine bank's payments specialist, concurred.
He claimed that "the Tron network's affordability and speed" are its main draws. It is also extensively utilized in markets that are not subject to government regulation. ".
Diaz continued by saying that USDT is available on Tron through any fintech business in Argentina that makes use of cryptocurrencies. According to Diaz, there was less awareness of Layer 2 solutions, which have been hailed as a more affordable method of transacting with Ethereum's security.
Tron's price does not outperform Layer 2s; at $0.11, USDT transfers on industry-leading solutions such as Optimism and Arbitrum were nearly ten times less expensive than Tron.
How Come Stablecoins?
One of the most common use cases in emerging markets, where users frequently struggle with depreciating local currencies and capital controls, is the transfer of stablecoins over inexpensive and quick networks.
Argentinean Fernando Volpe, the owner of the peer-to-peer exchange Calypso, claimed that people are turning to cryptocurrency as a result of Argentina's severe regulations on official dollar purchases. Depending on how the dollars will be used, there are various exchange rates and limits on the amount of foreign currency that people can purchase in the South American country.
Additionally, Argentine peso holders can avoid holding this currency, as stablecoins have helped during much of 2023 to avoid over 100% annual inflation. People turn to stablecoins and the dollar as a haven because the peso is continuously losing value, according to Volpe.
To beat inflation, according to Diaz, a lot of people receive their paychecks in USDT and then exchange the stablecoin for pesos to cover everyday expenses. According to Diaz, platforms where people get their salaries also aid in maintaining privacy. Because he keeps a working relationship with the companies, the bank employee declined to name them.
"They can easily save money and protect their cryptocurrency holdings from government oversight with the help of these platforms," Diaz continued.
Everyone Makes Use of It.
Stablecoin use allows users to avoid inflation and capital controls. They will also choose the option with the lowest fees and highest volume because they are concerned about protecting their savings rather than yield farming or flipping NFTs.
The owner of the online store, Matias, claims he uses USDT on Tron because it's the standard and he wants to take coins that people own.
Via the messaging app Telegram, Volpe's peer-to-peer exchange enables users to trade Pesos for dollar-pegged stablecoins. He claims that every day, he helps with USDT sales on Tron.
Decentralization is lacking.
To be sure, Tron does not have a reputation for upholding the decentralization benefits of cryptocurrency. The blockchain is based on a system of 27 parties known as "super representatives," who must be elected in order for transactions to be approved. According to Beaconscan, Ethereum's proof-of-stake system has almost one million validators.
Justin Sun, the creator of Tron, has also frequently stirred up controversy. Prominent figures in the cryptocurrency world, such as Vitalik Buterin, have accused the whitepaper describing Tron's design of being plagiarized.
Before agreeing to the date six months later, Sun had infamously canceled a charity lunch with Warren Buffet. Also, the Securities and Exchange Commission charged Sun in March of paying celebrities for covert advertisements and offering unregistered securities for sale.
Volpe implied that individuals were preoccupied with other matters when talking about Tron's image.
He claimed, "They do not pay attention to security when they see that the network works for them.".
Tron's accomplishments as a stablecoin transfer network, however, represent a significant advancement for the cryptocurrency industry, whose supporters have frequently highlighted the technology's capacity to "bank the unbanked.". ".
It appears that Tron, an unlikely candidate, is the one making the difference in that mission.
.
In light of the most recent US Guidelines, the Web3 platform WalletConnect, which connects cryptocurrency wallets, has limited its services in Russia.
Russian and some Ukrainian sanctions were announced by the US Treasury's Office of Foreign Assets Control (OFAC). On October 1, the restrictions went into force. thirty.
WalletConnect has limited the availability of the WalletConnect Protocol in Russia due to recent legal and OFAC guidance. Service has now resumed after a brief interruption in some areas of Ukraine. WalletConnect (@WalletConnect) October 31, 2023 We sincerely apologize for any inconvenience this may have caused.
"WalletConnect has limited the availability of the WalletConnect Protocol in Russia in light of the most recent legal and OFAC guidance," the company stated in a post on X (Twitter).
Pedro Gomes, CEO of WalletConnect, made it clear in a message to users that the company did not obstruct services in other nations.
"Some false reports claimed that we had blocked other non-sanctioned nations. We can attest that no other nations were restricted. ".
A temporary IP address restriction for Ukraine was also announced by WalletConnet. The statement continued, "until we could compliantly switch back on regions of Ukraine that are not affected by sanctions.".
Blockchain wallets and decentralized applications (dapps) are separated by the open-source Web3 standard known as WalletConnect.
WalletConnect and other crypto platforms will have to make difficult choices as the industry struggles with unclear global regulations. But the platform's recent removal from countries that the US has sanctioned highlights how crucial it is to follow international laws.
US Sanctions on Companies that Handle Digital Assets.
A new pamphlet from OFAC offering advice on navigating U.S. S. penalties in October of 2021. Like other financial institutions, the agency expects cryptocurrency operators to bear the same responsibility for avoiding sanctions violations.
The directive said as follows: "Generally speaking, U. S. Individuals are in charge of making sure they don't deal with prohibited parties or engage in unlawful transactions, including those in the virtual currency sector. ".
US sanctions have tightened on cryptocurrency gateways to these countries amid geopolitical unrest in Russia and the Middle East. For example, under U.S. law, cryptocurrency asset service providers Coinbase and Binance have blocked the wallets of Russian citizens. S. punishments.
.
A security breach has resulted in the loss of cryptocurrency assets valued at over $2 million for the DeFi project Onyx Protocol.
The attacker took advantage of a rounding bug in the Onyx Protocol, according to a recent post by blockchain security company Polyzoa, to steal $2.11 million in cryptocurrency from the network.
The post stated that the attacker took advantage of this weakness to steal $2.1 million from the oPEPE market, which had only been launched five days earlier and had no liquidity.
An apparently harmless small donation to the oPEPE market was made by the attacker to kick off their scheme and carry out the exploit.
This made it possible for them to borrow a sizeable sum of money from other markets with plenty of liquidity. Collateral for the loan process was provided by the donated funds.
The attacker then repaid the loans, profiting from the rounding error. ".
It is noteworthy that the exploit used in the Hundred Finance hack and this attack are similar.
That was an example of an attacker manipulating interest rates in order to borrow more money than they had planned to, thus accomplishing their malicious goals.
Technology company Onyx Protocol, founded on the blockchain, says it can offer a more sensible economic model.
In order to support Web3 services and financial products, the project builds cloud infrastructure and cryptographic ledgers.
The attack has not yet been handled by Onyx Protocol.
To steal $2.1M, an attacker took advantage of a known rounding vulnerability in the Onyx Protocol. A well-known rounding bug in the well-liked CompoundV2 fork led to the Onyx Protocol hack. This vulnerability was exploited by the attacker, who took $2.1 million from the oPEPE market, which had only recently been launched. — Polyzoa (@Polyzoa_xyz) November 1, 2023.
Players in the Crypto Space Unite to Fight Scams.
A new feature aimed at enhancing user security has just been unveiled by MetaMask in collaboration with security company Blockaid, according to an announcement made yesterday.
Currently, users of MetaMask desktop can choose to add the Privacy Preserving Offline Module (PPOM) and enable the MetaMask experimental setting in order to enable the new security feature.
PPOM is an offline security engine created by MetaMask that, prior to signing documents, simulates and verifies transactions.
This is accomplished by using node RPC communication requests to a node provider that has been configured, guaranteeing that no private information is transmitted to outside servers.
As part of yet another effort to combat miscreants, a U. S. -led coalition made up of forty nations has promised to never give ransom to cybercriminals.
The International Counter Ransomware Initiative aims to shut down the source of funding for cybercriminals.
With 46% of ransomware attacks occurring in the US, the country is the most affected globally. The decision was made in light of this growing trend.
In Q3 2023, there were 76 hacks on crypto and Web3 projects and firms, according to a report by blockchain security platform Immunefi. This is a significant increase over the 30 hacks reported during the same period in 2022.
September was a record-breaking month for cryptocurrency exploits, with an estimated $332 million lost to various hacks, scams, and exploits.
.
BTC is currently trading at $34,432 after rising 0.64% on Wednesday. The significant influence of crypto whales is helping BTC move closer to this significant barrier. As a result, the price prediction for bitcoin is still optimistic.
The cryptoverse is preparing for the possible impact of spot bitcoin ETFs in the US with the goal of increasing demand as the world commemorates 15 years of Bitcoin and considers Satoshi Nakamoto's seminal white paper.
For investors and enthusiasts alike, the key question at this pivotal time is whether or not Bitcoin can maintain its momentum above $35,000.
Whale Movements: The $35K threshold for bitcoin is approaching.
A number of factors are boosting investor optimism as the outlook for the Bitcoin market is improving. The price of Bitcoin is expected to continue its long-term upward trend for a number of reasons, despite the fact that it recently approached $34,500, sparking hopes that a bull market would soon materialize.
The expectation that spot Bitcoin exchange-traded funds (ETFs) will be approved by the Securities and Exchange Commission (SEC) has significantly improved market sentiment. In addition, a further rise is expected because of the potential for Quantitative Easing and the impending Bitcoin halving event.
The next bull market peak could happen 518–546 days after the April 2024 Bitcoin halving. By October 29, 2023, Bitcoin could have peaked in mid-September or mid-October 2025.
It's crucial to realize, though, that although there are frequently brief increases in the value of Bitcoin prior to or following halving events, significant gains might not appear for up to a year following the event. Previous Bitcoin halves have, according to historical data, led to notable price increases in the months that followed the halves.
Spotlight on Cryptoverse: Can Bitcoin ETFs Outperform Gold?
One major step closer to the mainstream acceptance of the leading cryptocurrency, Bitcoin, is the upcoming launch of a spot Bitcoin exchange-traded fund (ETF). Because of the expected regulatory approval of a spot Bitcoin ETF in the US, the value of Bitcoin increased by 28 percent in October. Analysts' estimates of the possible capital inflow from a spot Bitcoin ETF range greatly, from $3 billion on the first day to $55 billion over the course of five years.
Spot bitcoin ETFs seek to ignite US demand through the following link: https://t . co/lpgmAg6pNa pic . twitter . com/itHeXcwjRU — Reuters (@Reuters) October 31, 2023. Cryptoverse: As decent as gold?
Significantly, financial heavyweights like BlackRock and Fidelity as well as organizations focused on cryptocurrencies like Grayscale have taken notice of this development. However, pointing to their lack of intrinsic value, some conventional investors are still dubious about cryptocurrencies.
The price of Bitcoin has surged to $34,432, the highest since May 2022, due to the possibility of a spot ETF. Although analysts have differing opinions about expected demand, they agree that a new asset class in the ETF market makes it difficult to predict demand with precision.
A Decade and a Half Later: Unpacking Satoshi’s Vision.
Recalling the revolutionary impact of Bitcoin on money and financial systems, today marks the fifteenth anniversary of Satoshi Nakamoto's initial release of the cryptocurrency. A decentralized electronic cash system was proposed in Nakamoto's white paper, "Bitcoin: A Peer-to-Peer Electronic Cash System," eliminating the need for intermediaries like banks. Since then, the value of the cryptocurrency market has grown to $1.22 trillion, with over $670 billion as of October 31, 2023, thanks to the rise of bitcoin.
It has fixed the double-spending problem with decentralized verification utilizing mining and a proof-of-work technique. It has also promoted community trust and brought triple-entry accounting.
On October 31, 2008, exactly 15 years ago, the Bitcoin Whitepaper was released. We are grateful to Satoshi! ???? pic at twitter.com/VSpNjCeKDk — Bitcoin Archive (@BTC_Archive) October 31, 2023.
Bitcoin remains a symbol of the ingenuity and resilience of decentralized systems in the face of challenges such as energy consumption and regulatory scrutiny. With its adherence to security, transparency, and decentralization in an evolving financial landscape, it continues to have promising future prospects. Bitcoin is a symbol of what can be possible if people band together to achieve financial independence.
Estimated Price of Bitcoin.
Important price levels have been determined by concentrating on the 4-hour chart. Bitcoin is currently facing immediate resistance at $37,738, with the pivot point at $32,203. The next resistance levels at $40,954 and $46,488 may be tested if the bullish momentum continues. Reversal points include $23,453 and $20,386 as additional support levels, with immediate support located at $29,062.
A more thorough understanding of market sentiment is offered by technical indicators. The overbought conditions and possible pullbacks are indicated by the Relative Strength Index (RSI) reading of 78.
Without disclosing precise numbers, the Moving Average Convergence Divergence (MACD) shows a bullish trend. Additionally, the price is above the $29,842 50-Day Exponential Moving Average (EMA), supporting a bullish short-term outlook.
The current chart pattern shows a sideways channel in action along with a choppy trend. This pattern usually indicates traders are unsure of themselves and are waiting for a clearer trend to emerge.
In summary, the general trend for BTC/USD is positive, provided that the price stays above $32,200. If this level holds, we expect the asset to test the near-term resistance levels.
Since the overbought RSI may indicate a brief retracement, traders should exercise caution. As they will be crucial to the asset's short-term trajectory, caution is advised and the identified support and resistance levels should be closely monitored.
The city of Busan in South Korea is formally looking for operators for its upcoming Busan Digital Asset Exchange.
Selection of operators for the Busan Digital Asset Exchange is presently in progress, according to a notice published by Busan City and picked up by MarsBit news.
Next month, there will be an operator for the Busan Digital Asset Exchange.
The Busan Digital Asset Exchange Promotion Group is in charge of the selection process and will announce the operator selection results next month.
This decision is subject to a detailed examination and demonstration assessment of the documentation that the Busan City Government has provided.
The establishment and management of the digital asset exchange should proceed more quickly after the operator is selected formally; the exchange should be up and running by the end of the year. The fact that all funding for the digital asset exchange project is coming from private sources is an interesting feature of this endeavor.
Because of this, company owners who take part in the venture bear dual responsibility for maintaining ownership stakes in the company in addition to being accountable for the financial outlay needed to build the infrastructure and maintain operations.
It's noteworthy that administrative support from Busan City may be provided to aid in the development of this emerging industry, depending on the type and scope of future projects.
By 2026, Busan wants to be a hub for blockchain technology.
Before the 28th of the month in question, prospective business owners who would like to help establish the city's digital asset exchange, are required to submit their business proposals.
The comprehensive plan detailing the creation of the digital asset exchange and the suggested timeline for its future development are among the materials available to those who would like to participate in this project.
Enabling the city to become a blockchain hub by 2026 is the main goal of Busan's larger transformation project, of which this initiative is a crucial component.
The ultimate goal is to establish Busan as a leader in the blockchain ecosystem and industry.
Following project completion, the South Korean city of Busan dissolved the Busan Digital Asset Exchange Establishment Promotion Committee, acting as a blockchain free supervision zone.
.
Renowned web3 and digital asset investment firm Hivemind Capital Partners has announced plans to grow into Hong Kong.
A press release on Tuesday stated that the company has also named seasoned investment banker Stanley Huo as its head of Asia.
Huo has worked in investment banking for more than 15 years, gaining experience at prestigious companies in Asia and Europe like China Renaissance, UBS, Citi, and BAML.
In a comment, Huo stated, "I'm excited to be joining Hivemind at such an amazing time.".
"The convergence of emerging digital asset technologies and traditional finance in Hong Kong offers unparalleled prospects, and I'm excited to spearhead our endeavors within this dynamic environment. ".
Hong Kong is praised as a cryptocurrency hub by Hivemind.
A major crypto hub, Hivemind also highlighted the benefits of operating in the city-state of Hong Kong.
According to the company, the city offers an ecosystem that makes it easier to raise capital, access traditional financial infrastructure, and investigate blockchain-related innovations.
"Matt Zhang, the founder and managing partner of Hivemind, stated that our firm's growth into Hong Kong is a testament to our commitment to being at the forefront of financial innovation and technology.".
We are well-positioned to make a substantial contribution to and impact the developing story of blockchain technology and digital assets in the Asia-Pacific region, with Stanley spearheading our business there. ".
There are still funds available for Hivemind to deploy from its recent $1.05 billion investment vehicle launch.
Furthermore, earlier this year, the business unveiled the $300 million Liquid Opportunity Fund.
Obtaining $60 million for the fund was confirmed by Hivemind's founder, Matt Zhang, in June.
Web3 Companies Keep Coming to Hong Kong.
Hivemind's move into Hong Kong is consistent with a trend in which other cryptocurrency companies are realizing the potential of the area and taking it into consideration for future growth.
For instance, Standard Chartered-backed digital asset custodian Zodia Custody just declared its arrival in Hong Kong.
With recent initiatives like the launch of retail trading for authorized cryptocurrency exchanges in August, Hong Kong has been promoting itself as a center for Web3 businesses; however, it has not been without difficulties.
The city recently saw the biggest Ponzi scheme in its history, with users of the JPEX cryptocurrency exchange losing about $166 million.
The incident is still being looked into.
Analysts and business professionals are worried that the consequences of the JPEX fiasco will pose serious obstacles for virtual asset firms and impede government initiatives to grow the industry.
Cyrus Ip, a crypto venture investor and the chief business officer of artificial intelligence start-up DreamWld Technology, stated that "the JPEX case has created a negative impression for people in Hong Kong on digital assets and the broader Web3 industry at a time when people still don't completely understand what Web3 is."
.
Active Ethereum Layer 2 users, Osmosis and Cosmos Hub stakers, and cryptocurrency developers received an airdrop of 60 million TIA tokens from Celestia.
According to a press release from the Celestia Foundation, the new blockchain Celestia successfully launched its mainnet beta on Tuesday. In their wallets, TIA tokens were given to active cryptocurrency users.
By making it easier for users to start their own blockchain, Celestia claims to be the first scalable modular data availability network.
During the initial stages of its mainnet launch, Celestia may experience instability due to the untested technology known as data availability sampling (DAS), which they announced on X.
Light nodes can check for data availability using the DAS mechanism without having to download all of the data for a block.
Four years after the LazyLedger whitepaper was released, "what was once considered a wild moonshot is now a reality," stated Ekram Ahmed, a spokesman for the Celestia Foundation. "Anyone can easily start their own blockchain with Celestia, the first modular blockchain network that securely scales with the number of users.". ****.
Promo photo for Celestia.
TIA Currency.
According to Coingecko, in the minutes following the launch, Celestia's native token, TIA, began trading at $2.16.
Crypto developers, as well as stakers on Cosmos Hub and Osmosis and active Ethereum Layer 2 users, received an airdrop of 60 million TIA tokens from Celestia. There will be a maximum of 1B tokens produced.
Tokens are listed on several exchanges, including Binance, Kucoin, and Bybit.
Novel Modular Stack.
According to a news release from Celestia Foundation, the blockchain industry has witnessed the emergence of numerous new rollup frameworks and execution layers since 2022, which have helped to create the modular stack.
"Verifiability, abundant blockspace, and collaborative blockchains define the new, modular era that the industry has entered," Ahmed stated. "We want to make deploying chains as simple as smart contracts, and the Celestia mainnet is a huge step toward that goal. "
.
Bitget, a platform for copy trading and cryptocurrency derivatives, will celebrate the release of Bitcoin to commemorate the coin's 15th birthday.
Sara works consistently on news, analyses, and price swings of digital currencies. She writes as a guest author and is connected to numerous cryptocurrency admins. She actively informs readers about the latest developments in virtual currencies.
The Bitcoin Whitepaper will be released on October 31, 2023, to commemorate the 15th anniversary of Bitcoin, according to cryptocurrency derivatives and copy trading platform Bitget.
These days, there's an intriguing street performance to commemorate the birthday of Bitcoin. People can see a statue performer carrying a Bitcoin Briefcase, which represents the cryptocurrency's creator Satoshi Nakamoto, in many European and Asian countries. The media has already shown interest in the event hosted by cryptocurrency exchange Bitget.
By raising awareness and promoting widespread adoption, the cryptocurrency derivatives exchange hopes to honor Bitcoin's status as the global phenomenon that represents all cryptocurrencies. Bitget kicked off its celebrations for Bitcoin Whitepaper Day with an amazing street show in Taiwan and Austria at the end of October.
In areas where the event had already started, the street acts were successful in drawing spectators' attention, which generated a lot of media coverage and increased the event's social media presence.
The performers are chosen to represent the event from each participating region, according to Bitget's release. In the online portion of the event, attendees can also anticipate receiving prizes, reports on Bitcoin analysis, and giveaways.
In an effort to draw in more internet users, the team also planned a number of intriguing online teasers ahead of Bitcoin Whitepaper Day. In order to entice viewers to actively participate in the event as well as spread the word about it, these teasers featured captivating social media videos and live performances.
In addition, Bitget went above and beyond in order to provide participants with thrilling chances to take part in unique promotional events and exceptional giveaways, guaranteeing that Bitcoin gets the warm birthday wishes it genuinely deserves from a wide and varied community.
A BTC airdrop is one of the many giveaways, gift packages, and prizes that participants in the celebration of Bitcoin Whitepaper Day can win. To add even more excitement and nostalgia to the day's events, live artists would also take to the streets to hand out souvenirs with a Bitcoin theme.
The "forefather" of all cryptocurrencies, according to Bitget's Managing Director Gracy Chen, was Bitcoin. He made this acknowledgment while speaking about the event. She explained that this is why it's so important to honor the coin.
And for that reason, we're trying to make this event as exciting and interesting as we can. ".
The company states that the event's main goal is to introduce new audiences to cryptocurrency while also promoting the use and acceptance of digital assets as relevant and affordable financial products for people of all ages.
.
Daniel Shin, a co-founder of Terraform Labs, has blamed former CEO Do Kwon for the Terra Network's demise but has denied any role in it.
As he was not a part of the company prior to its collapse, Shin is blaming Do Kwon's poor policies, according to reports that have circulated from the local news media since his trial.
Even though Shin departed the company three years prior, he was accused of breaking capital markets laws by South Korean authorities because of his network affiliation. Shin has consistently insisted on leaving the company despite the accusations against him.
After a months-long investigation, Daniel Shin, the co-founder of TerraformLabs, and nine other people were formally charged in South Korea. The charges include several counts of asset freezing totaling $185 million. April 26, 2023 — Cryptonews . com (@cryptonews) — https://t . co/5hr9yONIMp.
According to the report, two years prior to the infamous incident, in 2022, the defendant, Shin Hyun-Seong, broke away from Do Kwon for business purposes. Shin Hyun-Seong was represented by lawyers at the Criminal Agreement Division 14 of the Seoul Southern District Court.
"External attacks and CEO Kwon's irrational use of the Anchor Protocol were the root causes of the coin plunge.". It's unrelated to Shin at all. ".
This belief that executive decisions that are not up to par, coupled with stringent regulations and general market downturns, are the main causes of cryptocurrency crashes has been expressed by several members of the community.
On the Terra Network, Anchor Protocol was a lending platform that let users borrow against their holdings and earn up to 20 percent interest against their deposits.
With user assets contributing to the entire story, Anchor also took a severe hit.
Shin is accused of more things.
The prosecution claimed that Shin issued tokens to investors and made billion-won profits doing so, all the while knowing that the platform would eventually collapse.
Shin's attorney added that the government started pursuing legal action because of regulatory oversight and that rules prevented the Terra project from moving forward.
He maintained that since the creation of virtual asset payment services was not illegal in the nation, no laws were broken.
Observe Kwon's struggles.
Following a year-long pursuit, Do Kwon is imprisoned in Montenegro for document falsification and may be extradited to the US or South Korea upon serving out his sentence.
In a related development, Do Kwon continues to assert his innocence in a lawsuit brought by the US Securities and Exchange Commission (SEC), which asserts that assets linked to Terra are securities.
Do Kwon and Terraform Labs File Motion to Dismiss U.S. Case. S. A motion has been filed against the U.S. by SEC Terraform Labs and co-founder Do Kwon. S. SEC, attempting to have accusations of multibillion-dollar securities fraud dismissed. 31 October 2023
The former CEO's attorneys have requested that the court dismiss the entire lawsuit on the grounds that the SEC lacks evidence to support any of the charges.
The SEC is demonstrably no closer to establishing that the Defendants committed any wrongdoing after two years of investigation, the conclusion of a discovery period that saw the taking of more than 20 depositions, and the exchange of more than two million pages of documents and data. ".
.
To improve user security, MetaMask and security company Blockaid have partnered to launch a new feature.
With the addition of the Privacy Preserving Offline Module (PPOM) and activation of the MetaMask experimental setting, MetaMask desktop users will now have the choice to opt-in to the upgraded security feature.
PPOM, created by MetaMask, is an offline security engine that verifies and simulates signatures and transactions prior to signing them.
In order to accomplish this, no sensitive data is transmitted to outside servers by using node RPC communication requests to a configured node provider.
Blockaid and MetaMask have teamed to introduce an alert feature that guards against phishing scams for users. Any dApp can be fully simulated by Blockaid's dApp scanning solution, which can then determine whether or not those interactions are malicious. On October 31, 2023, by Wu Blockchain (@WuBlockchain).
Blockaid's dApp scanning solution is essential to the new feature, according to Bárbara Schorchit, senior product owner at MetaMask.
It has the ability to mimic user interactions in any decentralized application (dApp) and determine whether or not they are malicious.
The system can assess if a dApp is dangerous for users by looking at its behavior as a whole.
If a transaction looks suspicious during the first phase of integration, opt-in users will receive an alert.
In November, MetaMask intends to release the feature on its mobile app as well.
In order to make the new feature available to all MetaMask users, MetaMask plans to seamlessly integrate it and enable it by default by the first quarter of 2024.
In order to avoid false positives and make sure that legitimate operations are not tagged as malicious, the rollout will be phased.
In response to queries about privacy, Schorchit stressed that the new module does away with the requirement to disclose each transaction and signature request to outside parties.
The user's device performs the simulation and validation procedures, and communication is restricted to the blockchain via the user-selected node provider.
Scams and Phishing Attacks Abound in the Crypto Industry.
Scams and phishing attempts have become ongoing problems in the cryptocurrency space.
10% of dApps currently in use, according to Blockaid, are malicious. A recent Consensys survey found that 47% of global respondents view "too many scams" as a major deterrent to entering the cryptocurrency ecosystem.
In Q3 2023, there were 76 hacks on crypto and Web3 projects and firms, according to a report by blockchain security platform Immunefi. This is a significant increase over the 30 hacks reported during the same period in 2022.
September was a record-breaking month for cryptocurrency exploits, with an estimated $332 million lost to hacks, scams, and other exploits.
The download of phony wallet applications from search engines is one of the main reasons for the loss of cryptocurrency assets, according to Bitrace.
In terms of appearance and user experience, these phony apps are very similar to real ones, which makes it simple for gullible users to become victims.
Tokens are permanently lost once the user synchronizes their mnemonic phrase or deposits funds into the fictitious wallet.
.
A twenty percent stake in a future governance token that the project intends to launch would be obtained by investing three million UNI tokens, or $12 million, in Ekubo, according to the proposal, which The Block reported on Sunday.
The investment, according to Ekubo founder Moody Salem, is a "vitally important step" toward decentralizing Uniswap's protocol development by enlisting the Ekubo team as core developers.
A large number of people in the Uniswap community agreed with this sentiment.
After 21 million UNI tokens voted in favor of the proposal and 12 million against, the proposal received 63 percent of participating tokens in the preliminary vote on the Snapshot platform.
considerable TVL growth.
DefiLlama reports that Ekubo, which functions as a decentralized exchange on Starknet, has $21.6 million in total value locked (TVL) in its smart contracts as of right now.
Since its modest beginnings in September of this year, TVL has witnessed a significant and steady growth for the protocol.
The 3 million UNI tokens allotted for the investment will support both the Uniswap protocol and Ekubo's operations if the proposal passes the required voting stages.
According to Ekubo, if the proposal is approved, it wants to develop a governance token in less than a month, allocating 20% of its supply to the Uniswap DAO Treasury.
Uniswap will update its license to allow Ekubo to use Uniswap v4 indefinitely in exchange.
The plan has encountered resistance despite widespread support, with some Uniswap community members raising issues with accountability, governance, and valuation.
.
In order to have the SEC's securities fraud lawsuit against Terraform Labs dismissed, co-founder Do Kwon and the company filed a move for summary judgment with a federal court.
After its native token, LUNA, lost 99 percent of its value due to the linked algorithmic stablecoin, UST, losing its peg to the dollar, Terraform Labs collapsed in May of 2022. The incident cost investors more than $60 billion in losses, and lawsuits have been filed in a number of nations, including South Korea and the U.S. S.
Kwon is currently serving a four-month sentence for using forged documents after being arrested in Montenegro in 2023. The two U. S. and South Korea are requesting his extradition in order to prosecute him for his part in the collapse.
Move to Dismiss.
In the filing, Terraform contended that the SEC had not produced sufficient evidence to establish that Terraform Labs was engaging in fraudulent activities or the sale of securities. The business asserts that none of the accusations made in the lawsuit have been supported by any evidence that the regulator has given.
As stated in the filing:.
"The SEC is not getting any closer to establishing that the defendants committed any wrongdoing, even after two years of investigation, the conclusion of a discovery period that included the taking of over 20 depositions, and the exchange of over two million pages of documents and data. ".
The business further expressed concerns that the Rutgers University economics professor's analysis, which served as the foundation for the regulator's lawsuit, was "conceptually and methodologically flawed.". ".
Named for its author, Bruce Mizrach, the Mizrach Report asserts that a "Trading Firm" working with Terraform Labs was responsible for the 2021 UST re-peg.
Terraform counters that the SEC lacks admissible evidence to back up this assertion. Furthermore, the business said:.
The Supreme Court and the Second Circuit have repeatedly denounced certain aspects of the SEC's analytical modeling, especially in relation to Professor Mizrach's opinions, as "junk science" because of the ridiculous results they produce. ".
The motion submitted to U.S. District Judge Jed Rakoff is unclear. S. It will be granted to the District Court for the Southern District of New York. Prior to this attempt, Terraform failed to get the case dismissed.
Co-founder of Terraform's trial.
Daniel Shin, a co-founder of Terraform Labs, started his trial in South Korea on October. thirty. Shin is accused of breaking laws governing the capital markets and engaging in illicit fundraising.
DeFi lending protocol Anchor Protocol, which enabled users to lend and borrow UST, was primarily managed by Kwon, according to Shin, who refuted all accusations made against him.
In defense of himself, Shin claimed that since he broke off contact with Kwon in 2020, he is not to blame for the Terra ecosystem's collapse.
.
After the first e-HKD pilot project came to an end, the Hong Kong Monetary Authority (HKMA) is still unsure about its policy position regarding the launch of a retail central bank digital currency (CBDC).
According to the HKMA, further study and inquiry are required to determine whether the introduction of CBDCs would materially enhance the monetary system, even though they may provide special advantages in some situations.
The HKMA further stated that while many of the system's inefficiencies are caused by antiquated procedures that cannot be resolved by technology, CBDCs are not a panacea for these issues.
e-HKD Project.
In order to improve Hong Kong's digital financial infrastructure, the HKMA has been actively researching the potential of wholesale and retail CBDCs as part of its "Fintech 2025" strategy.
November 2022 saw the start of the e-HKD Pilot Program. It was carried out in concert by the HKMA and industry stakeholders to investigate and assess the viability from a business standpoint of a range of e-HKD use cases.
The program's first phase thoroughly examined possible domestic and retail use cases in six different areas: tokenized deposits, full-fledged payments, programmable payments, offline payments, Web 3 transaction settlement, and tokenized asset settlement.
For the experiments, a total of sixteen companies from the payment, technology, and financial sectors were chosen.
The potential of wholesale and retail CBDCs has been actively investigated by the HKMA as a crucial component of its "Fintech 2025" strategy, which aims to advance Hong Kong's digital financial infrastructure.
The report states that transactions could be facilitated by CBDCs more quickly, more affordably, and more inclusively. They also make new kinds of business transactions possible.
Still, market development and more research are necessary to realize such unique value on a large scale. Furthermore, some of the inefficiencies that currently exist have less to do with technology and more to do with ingrained business procedures and standards.
Therefore, the regulator stated that even though e-HKD has the potential to utilize new technologies, it might not be a cure-all for inefficiencies.
Additional research is required.
In order to maintain caution, the HKMA has not yet committed to a policy regarding the introduction and timing of an e-HKD.
The industry's and the HKMA's roles in the implementation and operation of a CBDC should be taken into account, the regulator continued. Furthermore, policy, technical design, and legal considerations will be crucial to any further advancements in this area.
A number of areas that call for additional research have been identified by the watchdog in the first phase of the e-HKD Pilot Programme.
In the coming program phases, the HKMA will continue to explore the potential of a retail CBDC by delving deeper into these business and implementation issues.
.
The USA. KK. Treasury has completed the regulatory strategy for the cryptocurrency market. It will be implemented in stages, the first of which will place fiat-backed stablecoins under the watchful eyes of financial regulators.
On October, a policy update was published. 30). The Treasury presented its plan to control stablecoins, emphasizing that the first phase would concentrate on stablecoins backed by fiat. Phase two will address the various service providers in the crypto industry as well as the industry as a whole.
Early in 2024, a phased regulatory introduction pertaining to fiat-backed stablecoins will begin with legislation.
Key regulators, such as the Bank of England, the Financial Conduct Authority (FCA), and the Payment Systems Regulator (PSR), will closely coordinate during the regulatory process.
Reduced potential risks and regulatory framework overlaps are the goals of the collaboration. Systematic and acknowledged digital settlement asset (DSA) payment systems and service providers will be subject to additional regulatory authority.
First phase: regulating stablecoins.
In the first phase, the main objective of the government is to make it easier and more regulated for fiat-backed stablecoins to be used in UK payment chains. This strategy acknowledges their potential to overtake other payment methods in retail settings.
Stablecoins that endeavor to uphold a consistent value through reference to one or more designated fiat currencies are known as fiat-backed stablecoins. Furthermore, any stablecoins that are not supported by conventional fiat currencies will not be accepted by the government.
This phase of regulation will cover the Payment Services Regulations 2017 as well as the Financial Services and Markets Act 2000's provisions regarding the issuance and custody of fiat-backed stablecoins.
The PSR and the central bank will provide supplementary supervision as needed, with the FCA serving as the principal regulatory body for all stablecoin-related activities. This strategy seeks to lessen the risks connected with their use in transactions and lessen potential harm to consumers.
Step 2: Regulation of cryptocurrencies.
Phase 2 involves the U. G. will expand the scope of the country's cryptoasset activities covered by the regulatory framework.
The regulation of lending, exchange, custody, and market abuse activities are all included in this phase. Firms concentrating on various facets of cryptoasset operations are intended to have flexibility thanks to the phased system.
In an affirmation of its continued adherence to international norms and practices, the Treasury declared that unbacked cryptocurrency, like Bitcoin (BTC) and Ethereum (ETH), will not be subject to the same laws as gambling.
The government intends to establish a comprehensive regulatory framework by concentrating on regulating activities pertaining to cryptoassets, including lending, trading, and custody.
The USA. KK. has the intention of creating equivalent measures for foreign companies that do business in the nation, like cryptocurrency exchanges. This includes the option for trading venues subject to foreign regulation to request authorization for their U. KK. branches, under the guidance of the FCA.
The document also made it clear that non-fungible tokens (NFTs) that are distinctive and resemble collectibles or artwork will not be governed by financial services regulations. NFTs utilized as exchange tokens, especially those with little fluctuation in price, may, nevertheless, be subject to future financial services regulations.
In addition, the government reiterated its support for decentralized finance (DeFi). Regulating the DeFi industry, it was added, would be premature because it might impede innovation and growth.
An important turning point in the U.S. legal system has been reached with the release of the final regulatory framework. KK. is on a mission to become the premier worldwide hub for companies that deal in cryptocurrency. The crypto industry and its stakeholders can look forward to a defined and regulated environment in the near future with a clear roadmap in place.
.
PancakeSwap, one of the top decentralized exchanges, has recently made a move toward streamlining its service offerings as decentralized finance (DeFi) keeps pushing forward in its attempt to gain market share. In addition to launching a portfolio manager feature, PancakeSwap announced on Monday that it would be collaborating with DeFi protocol Bril Finance.
By spreading out investments across multiple liquidity pools, this feature aims to improve PancakeSwap users' financial strategies.
Users can now deposit single assets into vaults with the addition of a portfolio manager. With an improved risk-adjusted return on investment, the assets are then automatically allocated to various liquidity pools. A shift in the way users manage their cryptocurrency portfolios on decentralized exchanges may result from the eligibility of cryptocurrencies such as USDT, BTC, BNB, and Ether for deposits.
A System for Maximum Returns.
In line with the statement.
an automatic liquidity provision algorithm with rebalancing features is implemented by the portfolio manager. PancakeSwap and Bril Finance's partnership makes asset management easier for customers. According to preliminary tests, this system has already produced an internal rate of return (IRR) of more than 24 percent, which is a measure of an investment's compound annual growth rate.
Users who use PancakeSwap's governance token, CAKE, will be eligible for extra rewards for the first four weeks after the feature launches. Access to Bril's portfolio management system will initially only be available on PancakeSwap. This exclusivity demonstrates PancakeSwap's concentration on expanding and improving its suite of financial products as well as its leadership in the DeFi exchange market.
broader ramifications for decentralized exchanges.
"Our goal is to become the center of attention for all DeFi and integrations like this, which will enable us to serve as a one-stop shop for portfolio management," stated the CEO of PancakeSwap, also referred to as the Head Chef. "Users of PancakeSwap will be able to take advantage of the fundamental features and functionalities they are already used to, as well as easily and passively earn on their assets thanks to Bril's automated technology and seamless integration with PancakeSwap.". ".
Considered the second-biggest decentralized exchange by daily volume, PancakeSwap's introduction of this new feature appears to be a deliberate attempt to strengthen its position in the market. It is a calculated move to advance PancakeSwap and possibly create a model for other decentralized exchanges by integrating Bril's portfolio manager.
In partnership with Bril Finance, PancakeSwap has integrated a portfolio manager feature, which marks a significant change in the way decentralized exchanges are responding to the changing demands of their user base. In addition to aiming to maximize returns for individual investors, this update highlights the increasing sophistication of financial tools within the DeFi industry.
.
Elena is a specialist in risk management and technical analysis in the bitcoin space. Having worked as a writer for over ten years, she is a passionate journalist who is always looking for fresh perspectives on the cryptocurrency industry.
In an ironic turn of events, SEC Chairman Gary Gensler has been seen criticizing the agency he now leads for its "inconsistent" approach to spot Bitcoin ETF approvals in a recently discovered 2019 video. The timing of this information is perfect, coming at a time when discussions about the viability and potential of cryptocurrency exchange-traded funds (ETFs) are heating up.
The video clip from 2019 features a pre-SEC Gensler at the MIT Bitcoin Expo having a fireside chat with SEC commissioner Hester Peirce. Gensler brought up the differences between how the SEC handles Bitcoin futures and exchange-traded funds (ETFs) during the discussion. He states, "It feels a little inconsistent to me that Bitcoin ETFs have not existed, but Ethereum futures and so forth, and Bitcoin futures will exist.". ".
NEW: A video purporting to show Gary Gensler lecturing at MIT in the past acknowledges that it was contradictory that there was a Bitcoin futures ETF but not a spot Bitcoin ETF. ????.
Though the SEC seems to be at ease with Ethereum and Bitcoin futures exchange-traded funds (ETFs), it has persisted in blocking efforts to launch spot Bitcoin ETFs, claiming that these funds lack adequate safeguards against market manipulation.
The SEC has consistently denied applications for spot Bitcoin ETFs since 2017, and Gensler's tenure has not changed this pattern. The SEC has declined, postponed, or rejected new applications under his direction.
After being denied permission to change its current Bitcoin trust into a spot ETF, Grayscale's asset manager filed a lawsuit against the regulatory body. Subsequently, a court declared that the SEC's decision was "arbitrary and capricious," but the agency declined to file an appeal.
The discrepancy between Gensler's prior and present positions has been brought to light by market analysts and cryptocurrency enthusiasts on social media. Well-known market analyst Zack Voell said, jokingly, "Gary Gensler says Gary Gensler is wrong. ".
Even though regulatory inconsistency continues to be a major obstacle, the revelation of Gensler's 2019 remarks may increase scrutiny and even spark a shift in the SEC's position on cryptocurrency exchange-traded funds.
Concurrently, SEC Chairman Gary Gensler has stoked optimistic beliefs that the U.S. is currently reviewing eight to ten spot Bitcoin ETF applications. S. may soon see the approval of its first Bitcoin ETF.
.
Kasikorn Bank, also referred to as K-Bank, is the second-largest bank in Thailand. It recently purchased a 97% share in the parent company of the well-known Satang cryptocurrency exchange.
With this calculated acquisition, K-Bank is stepping up its efforts in the cryptocurrency space in an attempt to provide a wide range of services compliant with Thai regulations.
Ten2 million is paid to K-Bank to acquire the majority stake.
According to Thailand Posts, a recently formed K-Bank subsidiary called Unita Capital carried out the transaction, which had a value of 3.705 billion Thai baht, or roughly $102.8 million.
Unita Capital is mandated to invest in companies that provide digital assets, which is in line with K-Bank's objective to increase its market share in the cryptocurrency and digital asset space.
After the deal is completed, Satang will change its name and become Orbix.
Because Orbix will now include three more subsidiaries—Orbix Custodian, Orbix Invest, a manager of digital asset funds, and Orbix Technology, a developer of blockchain technology—this transition represents a more significant change in K-Bank's digital strategy.
A $100 million Web3 investment fund was launched by Thai Bank.
The bank recently launched a $100 million fund devoted to investments in web3, fintech, and artificial intelligence. This move into the cryptocurrency space comes shortly after.
Notably, Siam Commercial Bank (SCB), K-Bank's competitor, has also been aggressively seeking opportunities in the web3 and cryptocurrency domains, demonstrating the growing significance of these fields in the Thai financial landscape.
According to Udomsak Rakwongwan, a professor at Kasetsart University and co-founder of FWX . finance, a business that K-Bank has invested in, K-Bank has acquired a license to operate as a cryptocurrency exchange and is actively seeking further licenses for activities related to cryptocurrencies in Thailand.
Rakwongwan emphasized the unique characteristics of the Thai market, which has strong institutional backing and offers a special range of opportunities in the realm of cryptocurrencies and digital assets.
Previously, to create a regulated, localized exchange in the Thai market, Gulf, the country's largest energy company, partnered with Binance through its Gulf Innova fund.
K-Bank disclosed to the local media that it hopes to hold a twenty percent market share in Thailand's cryptocurrency industry by the year 2024.
.
The download of phony wallet apps from search engines is one of the main reasons for cryptocurrency asset losses.
According to a recent post by Bitrace, fraudsters use search engine optimization (SEO) and search engine marketing (SEM) strategies to spread phishing links that direct users to phony wallet apps that contain dangerous backdoors.
Because of their striking similarity to real apps in terms of design and user interface, it is simple for gullible users to become victims of these fake ones.
The user's tokens are permanently lost as soon as they synchronize their mnemonic phrase or add funds to the fictitious wallet.
Fake Bitpie wallets are a prime example of this kind of scam.
Many phishing links appear on the first page of search engine results when one searches for "Bitpie wallet.".
The website for the phony wallet might look just like the real one, but a closer look reveals irregularities in the URL, disclosing its fraudulent nature.
Scammers Take Advantage of Clipboard Hijacking to Take Cryptocurrencies.
Theft of clipboards by malevolent actors is another method of coin theft.
By taking over the victim's computer clipboard, this traditional attack substitutes malicious cryptocurrency addresses for copied ones.
Hackers take advantage of cryptocurrency investors by inserting malicious code into phony versions of the Telegram messaging app.
Attackers persuade users to download or update the fraudulent app by means of social engineering tactics.
A malicious address is substituted for the user's pasted blockchain address in the chat box by the malware once it recognizes the user's address.
Thus, without realizing the scam, gullible people unintentionally send money to the attacker's address.
Apart from these focused assaults, scams involving cryptocurrency investments frequently lure victims in with claims of large profits and minimal dangers.
Liquidity staking arbitrage is one such program where users reload a specific amount of cryptocurrency into a wallet in the hopes of generating a steady income.
But these websites frequently include malicious code into their smart contracts, which gives hackers access to users' tokens and their money whenever they want.
In an attempt to increase their legitimacy, con artists even request that victims download popular wallets such as Trust Wallet and OKXweb3.
It's important to keep in mind, though, that permissionless wallet services do not ensure asset security, even if you download a trustworthy wallet.
In Q3, users lost over $330 million due to cryptocurrency hacks.
Since the year's beginning, the cryptocurrency industry has been beset by numerous hacks and scams, especially in the third quarter of 2023.
In comparison to the 30 hacks reported during the same period in 2022, there were 76 hacks on cryptocurrency and Web3 projects and businesses in Q3 2023, according to a report by blockchain security platform Immunefi.
September set a record for the most cryptocurrency exploits, with hackers, scams, and exploits losing a total of about $332 million.
The attack on Mixin Network on September 23 was one noteworthy occasion. A significant breach of the cloud service provider resulted in a $200 million loss for the Hong Kong-based decentralized cross-chain transfer protocol.
The cryptocurrency exchange CoinEx suffered a suspected attack on September 12 in response to a significant withdrawal from four of its hot wallets. This incident was another significant one. Over $53 point one million was lost as a result of this breach in all of the hot wallets.
.
As part of the current investigation into the alleged $240 million cryptocurrency scam, a Special Investigation Team (SIT) in India conducted thorough searches at 41 locations in the state of Himachal Pradesh on Sunday.
One of the primary accused who had been eluding capture, Abhishek Sharma, was apprehended as a consequence of the operation, police told local media today.
One of the key players in the scam, which started its illegal operations back in 2018, was revealed to be Abhishek Sharma, a resident of the Una district.
Still at large is Subash, the alleged mastermind of the multimillion-dollar cryptocurrency scam.
Promising large returns via an investment plan linked to a locally developed cryptocurrency called "Korvio Coin," or KRO coin, was at the heart of this fraudulent scheme.
Although the scam's initial estimated value was $24 million, police are currently conducting investigations and now estimate the scam to be closer to 2000 crore INR ($240 million).
Authorities Find Vital Proof in Cryptocurrency Fraud.
Important information essential to the current investigation has been found thanks to the SIT's extensive searches at 25 separate locations throughout Himachal.
According to an official release, this evidence includes mobile phones, various digital devices, property records, and incriminating documents.
Raid locations included many isolated villages, and there were hints that some high-ranking people were among those whose homes were searched.
The scope of the people under investigation was broad, ranging from government employees to former employees to police personnel, demonstrating the extent to which the scheme had permeated numerous industries.
Two important suspects, Sukhdev and Hemraj, had previously been captured in Gujarat. They admitted to startlingly high outstanding debts totaling ₹400 crore during the course of investigations.
accused will spend five days in police custody.
A local court has remanded newly arrested accused Abhishek Sharma to five days of police custody, which is a major development in this case.
The evidence gathered from these searches is expected to be very important to the current investigation and move the authorities closer to apprehending the guilty parties.
Ten people have been detained thus far in relation to the extensive cryptocurrency scam.
The SIT uncovered 250,000 IDs, some of which belonged to the same individual, and over 100,000 victims were tricked by this purported scam.
As was previously reported, more than a thousand police officers were among the victims, some of whom sustained significant financial losses.
The investigation is moving forward methodically, stresses Director General of Police Sanjay Kundu, and everyone involved in the scam will face legal consequences.
India is currently seeing a sharp increase in scams involving cryptocurrency because there are no laws governing the sector.
.
The cryptocurrency community is excited and filled with hope about the possibility of another bull market, and observers of the market speculate that shrewd investors are keeping an eye out for opportunities in promising assets like Ethereum (ETH) and Bitcoin Spark (BTCS).
Ethereum: What is it?
One blockchain that has become extremely popular is Ethereum. Its capacity to facilitate decentralized apps (DApps) and smart contracts makes it stand out. As a result, Ethereum has taken center stage, making up a sizeable portion of the decentralized finance (DeFi) TVL and Ether (ETH), which is currently the second-largest cryptocurrency by market capitalization. Ethereum and its investors are well-positioned to benefit as the next bull market draws near.
Bull markets in the past have seen a spike in ETH demand, leading to notable price increases. Moreover, Ethereum's speed and scalability were improved with the Ethereum 2.0 upgrade, increasing its appeal to users and developers. A number of Ethereum ETFs (exchange-traded funds) have been approved, indicating a rise in institutional interest in ETH. Ethereum (ETH) appears to be in a favorable position to profit from the current bull market based on these variables.
Tell me about Bitcoin Spark.
With its cutting-edge features, Bitcoin Spark is a trailblazing blockchain project that portends a bright future for digital transactions. This cutting-edge blockchain achieves astonishing transaction throughput while charging users the least amount of fees possible by utilizing a large network of nodes, a short block time, and a high individual block transaction capacity.
Additionally, Bitcoin Spark provides a strong ecosystem for decentralized apps (DApps) and smart contracts. With numerous execution systems that all reach finality on the main network, it features a specialized and flawlessly integrated smart contract layer. This architectural design promotes diversity in development by supporting a variety of high-level and low-level programming languages in addition to guaranteeing scalability.
The Proof-of-Process (PoP) consensus mechanism, however, is this blockchain's most innovative feature. By validating blocks and lending their processing power to the network, users are rewarded non-linearly through this amazing mechanism.
An enormous number of validators are encouraged by the non-linear reward system and the vast node network, which makes the network extremely safe, effective, and decentralized. To increase accessibility and user involvement even more, the Bitcoin Spark team plans to release a network validation application that runs on Windows, Android, iOS, and macOS.
The Bitcoin Spark network, it turns out, offers a very alluring chance for people and companies in need of remote computing capacity.
With validators contributing processing power in exchange for BTCS, the network's native cryptocurrency, they will be able to use it effectively and economically. In return, the validators will receive 97% of the income produced, in addition to newly issued BTCS and transaction fees from blocks that have been validated.
Additionally, Bitcoin Spark offers a way for users to advertise on its website and application, with BTCS payments made possible. The community will actively participate in supervising the advertisements in order to preserve credibility and uphold the decentralization principles. In addition to receiving a portion of the revenue generated, network participants will also receive extra rewards for overseeing ads.
Bitcoin Spark's Prospects.
On November 30, Bitcoin Spark (BTCS), which represents a 320 percent increase from its current price, will commence its Initial Coin Offering (ICO) at $10. Bitcoin Spark is receiving a lot of support from analysts who point to its revolutionary technology, practical real-world applications, and complex reward structures as reasons for a significant increase in demand and adoption.
Furthermore, the supply of BTCS coins is capped at 21 million, reflecting the scarcity principle that has caused substantial long-term price increases for Bitcoin (BTC). Furthermore, the deliberate timing of Bitcoin Spark's launch, which comes just before the projected bull market, fits with past trends that have produced astounding rallies for low-cap treasures.
.
The introduction of the "Virtual Asset Management Regulations Draft," a new bill that seeks to establish a thorough regulatory framework for the cryptocurrency industry, represents a significant step forward for Taiwan in regulating its burgeoning virtual asset market.
Taiwan is struggling with the rapid increase of virtual assets in the nation, which is why the move was made.
Establishing regulations for virtual asset service providers that guarantee investor protection and prompt identification and resolution of any threats to financial stability is the main objective of the bill.
Current regime.
As of right now, Taiwan only requires virtual asset service providers to follow anti-money laundering laws, which was instituted in July 2021 by the Financial Supervisory Commission (FSC).
Opponents contend that the FSC's regulations need to be updated because they haven't kept up with the industry's expansion. Though the number of virtual asset operators has increased and their products have broadened, the FSC mainly concentrates on anti-money laundering compliance.
Most of the cryptocurrency market is still unregulated, and lawmakers think the nation needs a comprehensive regulatory framework to support the emerging crypto industry.
As of August, the "Taiwan Blockchain Industry Map/Key Report" states that 200 domestic blockchain companies were based in the nation. ".
The amount.
According to the proposed legislation, cryptocurrency platforms operating in Taiwan will need to obtain a permit in order to operate within the nation. Failure to comply with this requirement may result in regulatory action, which may include a possible suspension of operations.
The second reading of the bill is not yet scheduled, but experts speculate that it might take place after January 2024, when the current Taiwanese legislators' terms come to an end.
Taiwan's "Virtual Asset Management Regulations Draft" introduces the following provisions in an effort to improve regulation, establish market order, and protect investor rights.
Operator classification and the definition of virtual asset scope.
requirements set by industry associations, permission processes, and qualifications for leadership positions.
obligating involvement in specific industry associations.
Regulation of virtual assets and derivatives.
Separation and retention records of customer assets.
Disclosures about custody and data protection policies for customers.
Regulations for the public trading of virtual assets and safeguards for customers.
open marketing and advertising procedures.
Standards for information security and reporting of incidents.
requirements for internal controls, audits, compliance, and risk management.
Standards for financial reporting and capital punishment.
Penalties under regulations for noncompliance.
Procedures for resolving customer disputes and payment.
uniform maintenance procedures for information systems.
This historic law intends to promote responsible industry growth, increase investor confidence, and stabilize Taiwan's virtual asset market.
The government's proactive approach highlights its commitment to promoting a well-regulated virtual asset ecosystem, even though implementation presents challenges.
.
Presently trading at an impressive $0.000065 is Terra Classic, also known as LUNC. This cryptocurrency has slightly decreased by 0.25 percent over the last 24 hours, but has increased by more than 12 percent over the previous seven days, adding to its significance.
As per CoinMarketCap, Terra Classic holds the 94th rank and has a substantial market capitalization of about $375 million .. When it comes to supply metrics, there are an astounding nearly 5.7 trillion LUNC coins in circulation.
Still unknown, though, are the specifics of its maximum supply. With an amazing 12 percent increase in the last week, LUNC's performance has drawn attention and rekindled the long-running discussion: Is the sell-off really over?
Here's our analysis of the dynamics at work and the price prediction for Terra Luna Classic.
Terra Luna Classic Price Forecast.
Crucial price points that traders and investors should closely monitor are revealed by analyzing the daily chart. Terrifyingly, $0.00006721 is the pivot point for Terra Classic.
This is significant because it's not just any old number—it's the 50% Fibonacci retracement level and it also lines up with the triple top pattern, an important technical indicator.
The cryptocurrency faces resistance at $0.00007033, which is also known as the 61.8% Fibonacci level, as it moves higher. After that, traders should watch the $0.00007464 resistance level.
Conversely, in the event that Terra Classic encounters bearish pressure, the 38.2 percent Fibonacci retracement level, or $0.00006423, serves as its immediate support.
The deeper supports are located at $0.00006059 and $0.00005449, respectively.
Examining additional technical indicators, we find that the Relative Strength Index (RSI) is 64. It is evident from this that sentiment is bullish.
For those who are unaware, an RSI reading above 70 usually indicates an overbought situation, while a reading below 30 may indicate an oversold situation.
Terra Classic is leaning toward bullishness because its RSI is sitting pretty at 64.
In conclusion.
Finally, as long as the price stays above the crucial $0.00006059 mark, the general trend for Terra Classic seems to be bullish. On the other hand, falling below this mark could encourage bearish impulses.
Terra Classic may test the $0.00007033 resistance level in the coming days, depending on the state of the market and technical indicators.
In this unstable cryptocurrency environment, traders and investors must as always remain informed and exercise caution.
Final Chance Alert: Bitcoin Minetrix (BTCMTX).
Enter the innovative world of Bitcoin Minetrix and experience its distinct stake-to-mine methodology. Remarkably, the presale has surpassed the $2 point 6 million mark, demonstrating its growing appeal.
There are just 3 days and 14 hours left before the planned price increase, so time is of the essence. Don't let this once-in-a-lifetime opportunity pass you by.
Keep Up to Date: For real-time news, follow the rapidly growing Bitcoin Minetrix community on Telegram, X, and Discord.
Participate in the BTCMTX presale to guarantee your place in this ground-breaking endeavor right away.
Purchase BTCMTX Right Here.
$850K is the Meme Kombat Presale Slice.
Explore Meme Kombat, a cutting-edge project that combines GambleFi, meme culture, and the nostalgic appeal of vintage video games in a decentralized Web3 environment.
Meme Kombat's iconic arena, representing distinct crypto tribes, is the center of action where players battle fiercely with avatars.
Fans can wager on these live battles, forecasting results and potentially winning a sizable sum of money. With a total of $851K, the current USDT collection is getting close to its $1,000,000 target. The price of each MK token is $0.1667. Take advantage of the opportunity.
It is now the ideal moment to participate, with only 3 days and 21 hours remaining before an anticipated price spike.
Chimpzee, the hottest new cryptocurrency sensation, is nearing the end of its presale. Out of its presale target, $1 point 7 million has already been raised. The last few days have seen a sharp increase in presale traffic due to the token's great relevance in the meme coin and sustainability markets.
Every Presale Objective Has a Donation Attached.
As a demonstration of its dedication to wildlife conservation, Chimpzee strives to meet predefined goals when reaching new presale milestones.
For instance, the project has planted 20,000 trees in Guatemala, given $15,000 to the preservation of the last herd of elephants adapted to the desert, and helped reforest the Brazilian rainforest with the planting of 1200 trees.
Chimpzee announced a donation to support the forgotten animals in war-torn Ukraine upon reaching its final presale milestone.
MANY THANKS! ????.
The Chimpzee Project (@RealChimpzee) is pleased to announce that it has achieved yet another fundraising goal! Tomorrow, it will burn an additional 1 billion tokens, bringing the total supply to 36 billion tokens! The image is from the Chimpzee website.
Each milestone includes a token burn to reward early investors in addition to donations intended for the greater good. One billion tokens were burned as part of the most recent presale milestone, for instance, bringing the total supply down to 36 billion tokens.
Chimpzee is working to reduce the overall quantity of CHMPZ tokens in circulation. The purpose of the burning mechanism is to maintain advantageous price dynamics for initial investors.
The Completely Functioning Chimpzee Store Will Open Soon.
Explore the Chimpzee Shop, which opened a few days ago. It presently has a range of merchandise on display, including mugs, tank tops, and t-shirts with powerful sayings supporting climate action and animal protection.
Chimpzee wants to create a community of environmentally conscious users and give them a platform to show off their commitment to a cleaner future through merchandise. The Chimpzee Shop as it is now is the first of two parts that will open.
Only browsing the wide variety of products on the website and creating customized shop accounts are available at this time. For now, the purchase functionality is deactivated. However, the fully functional store where customers can purchase Chimpzee gear and receive CHMPZ tokens as rewards will go live following quality control testing and last-minute negotiations with the payment provider.
Protecting Wildlife with a Blockchain Perspective.
With the addition of blockchain tokenization and cryptocurrency incentivization, Chimpzee transforms the field of wildlife conservation and exhibits a strong commitment to the cause.
By collaborating with groups like WILD Foundation, Rainforest Rescue, The Giving Block, and One Tree Planted, to mention a few, it has committed a portion of its earnings to support respectable environmental endeavours.
The aforementioned initiatives have progressed beyond their intended timeline.
The project Chimpzee will keep supporting more significant projects as it reaches new benchmarks in its ongoing presale, which has now surpassed the $1 point 7 million mark.
The reward structure of Chimpzee is another important tenet. By using the shop2earn, play2earn, or trade2earn platforms, users can make money from the platform in addition to staking. They provide users the ability to accrue and monitor rewards.
The Chimpzee Shop is one of these three online stores. In this ecosystem, users can participate in the Play-to-Earn and Trade-to-Earn sectors, among other ways, to earn rewards outside of shopping.
Chimpzee offers eco-aware users the opportunity to earn additional revenue while actively promoting environmental conservation. The NFT marketplace for Chimpzee is presently in development.
Made to Fight Unpredictability.
In order to guarantee the stability of its value appreciation even in the face of frequent market ups and downs, Chimpzee has introduced staking and burning mechanisms. Holders of NFT Passports are intended to be encouraged by the possibility of rewards. As the token supply is steadily decreased through burning.
As the project grows, both allow the early investors to maximize their gains.
????Chimpzee burned an additional 1 billion tokens, bringing the total supply down to 36 billion! This week, we will announce our next raise goal and create a new press release to celebrate this accomplishment! The Chimpzee Army came together once more to support these people. pic . twitter . com/mgUF2y5js4 — Official Chimpzee Project (@RealChimpzee) October 22, 2023...
restricted amount of time to obtain the tokens.
On Chimpzee, there are primarily two investment choices. The first of these is the Chimpzee cryptocurrency tokens, which are awarded and used as a form of payment throughout the ecosystem. Next are the Chimpzee NFT passports, which enhance holders' earning potential on the play2earn, trade2earn, and shop2earn platforms.
We are currently in the final stages of the Chimpzee presale. With $1.7M raised so far, it will sell out in a few days. Pre-sale offers to early investors include discounts and enticing bonuses of up to 4X.
Please visit https://chimpzee . io/calculate to see how much your presale purchase will cost after deducting the bonus.
After the presale ends, the token will prove to be a costly purchase because it may initially rise in value by 10X or 12X due to Chimpzee's meme coin elements.
.
Since Q1, There Has Been A Significant Drop In Activity On Decentralized Social Media Platform.
The Aave team's decentralized social media platform Lens is moving to its V2 mainnet. The procedure is scheduled to start in October. 30 and seeks to provide a developer-friendly and more modular ecosystem.
Lens users will have automatic access to Lens V2 and won't need to do anything.
The team claimed that switching to the Lens API V2 alone would result in a system that is more scalable and at least twice as fast.
During the first half of this year, Lens saw a spike in activity and users; a Dune dashboard shows that in April, daily posts reached a peak of over 50,000.
Lens Posts Every Day.
Since then, though, activity has sharply decreased to only 4,000–5,000 posts per day.
The Lens V1 API will no longer accept writes after October 30 due to the migration process. It will only be able to retrieve historical data before going read-only and staying operational for an additional three months, until January 30, 2024.
It is anticipated that 20 million transactions will be needed in the background to migrate on-chain data. Active and legitimate users will be given priority in the migration order, which will be determined by user activity and other variables. To guarantee security, a few operations will be put on hold while the data migrates.
Updating User Onboarding Prior To V2 Migration: The SocialFi industry's rise will be a backdrop for Lens's V2 migration.
On or before November 13, the migration is expected to conclude.
.
Two of the main characteristics of the dYdX Chain are the extended utility of the DYDX token and the distinct allocation of protocol fees in USDC.
A new dYdX layer 1 chain has launched on the mainnet, which is a noteworthy development that increases the utility of the DYDX token in the areas of staking, security, and governance.
By positioning DYDX as its Layer 1 token, this proof-of-stake network—which was constructed utilizing the Cosmos SDK—further solidifies its place in the dYdX Chain.
Data shared with CryptoSlate indicates that the dYdX Chain mainnet's first block was generated on October 18. 26, signaling the start of DYDX's new chapter.
This proposal is especially appealing to potential validators and stakers, as the dYdX exchange collected a substantial $137M in fees in the previous year.
What then does the dYdX Chain provide to its stakeholders?
The DYDX token's increased utility is one important feature. first appeared in August of last year as the governance token for the dYdX Layer 2 protocol on Ethereum (dYdX v3). Now, in 2021, the function of the DYDX token has grown. In addition to creating a one-way bridge from Ethereum to the dYdX Chain, the dYdX community voted to accept DYDX as the Layer 1 token of the dYdX Chain. With dYdX v3, Wrapped Ethereum DYDX (wethDYDX) will now have access to the same governance functionalities as ethDYDX.
As per standard procedures in proof-of-stake networks, holders of DYDX can now opt to act as validators or assign their stake to current validators. Holders of DYDX who stake their tokens help to safeguard the network and receive a share of the dYdX Chain protocol fees based on the weight of their stake.
By having a large financial interest in the network, validators are tasked with confirming and verifying transactions, which further strengthens the dYdX Chain's security.
A coordinated attack finds it harder and harder to influence consensus decisions as more holders of DYDX stake their tokens across a wider variety of validators.
Due to the standard x/gov module in the Cosmos SDK, the governance component of the dYdX Chain also promises greater accessibility when compared to dYdX v3. In the dYdX Chain governance, all staked DYDX tokens will be usable, and validators will inherit their stakers' voting weight unless they specifically choose to vote.
.
The Chimpzee project (CHMPZ) is making incredible progress in its endeavors, and the excitement surrounding the impending opening of the Chimpzee shop is only growing. Investors are pouring money into the project, which has raised an astounding $1.07 million toward its launch.
To help WeForest plant over 5000 trees in Tanzania and burn an additional 1 billion tokens, the team has just announced a new fundraising target.
Here, we give you all the information you need to know about the project, including the alluring perks of being a part of the presale and a detailed analysis of the project's overall ecology and nature.
Pre-sale surpasses $1.77 million, with 1 billion CHMPZ burned.
We're on our way to planting over 5000 trees in Tanzania!???????? Take advantage of the current… pic . twitter . com/muuU5z5wxE — Official Chimpzee Project (@RealChimpzee) October 26, 2023. Chimpzee will burn an additional 1 billion tokens to bring the total supply down to 35 billion tokens.
The fervor surrounding the CHMPZ burn is only intensifying the remarkable success of the CHMPZ presale. It has been so successful that the CHMPZ presale has surpassed the $1 million mark, and the next $1 million raise target appears to be becoming closer.
In addition to burning an additional 1 billion tokens to bring the total supply down to 35 billion tokens, the team will assist WeForest in planting over 5000 trees in Tanzania to combat climate change once the fundraising goal is met.
With a final listing price of $0.00185, the token, which is currently priced at $0.00125, is expected to rise to $0.00140 in the next phase. The Chimpzee Diamond NFT passport, which offers the biggest rewards, is another unique opportunity available to participants. Investors also receive a 4x bonus coin reward, bringing the total cost down to less than $0.00093.
As the main currency guiding all platform incentives and activities, the CHMPZ token is seamlessly incorporated into the Chimpzee ecosystem. Users of this framework are able to transact with the CHMPZ token in a variety of ways and can earn rewards in the form of more CHMPZ tokens.
If anyone misses out on obtaining Chimpzee Diamond NFT passports during the presale, they will become available later at a premium price, but supply will be restricted. Those who did not take part in the presale will have to wait until the whitelist NFT passport prelaunch, which is a chance that is only available to those who took part in the presale. Only those who bought a ticket during the first presale round will be able to obtain the Chimpzee Diamond NFT passport. An activation mechanism will occur when Chimpzee NFT passports are obtained with CHMPZ coins; this could result in a 10% decrease in the total amount of coins in circulation.
There are more features that users can anticipate.
With a strong commitment to solving pressing problems like climate change mitigation and animal conservation, Chimpzee also offers its users a way to make passive income. The project's team has promised to donate 10% of the token supply and a portion of profits to organizations that fight these issues in order to support these causes. To further highlight the value of generating awareness and money for conservation-related projects, Chimpzee has also laid out plans for an ambassador program and a community outreach project that will be supported by project funds.
A wide range of features, such as Play-to-Earn, Shop-to-Earn, and Trade-to-Earn mechanisms, are available on Chimpzee. These features enable users to actively contribute to the project's overall goals and earn rewards. Notable among them is the Chimpzee store.
In addition to earning you passive income in the form of CHMPZ coins, the shop sells a variety of unique goods. Your fight against climate change and defense against animal abuse will benefit from this. A portion of the store's earnings will be donated to charitable causes.
The Chimpzee shop is not your typical online marketplace; rather, it's a single location where a diverse range of goods and commodities can be found. On the other hand, the NFT marketplace facilitates the trading of NFTs, offering a way to participate in a portion of the platform's trading fees and create passive income.
Chimpzee presents a wide range of features designed to attract cryptocurrency enthusiasts, with a focus on the Zero Tolerance Game, NFT marketplace, and Chimpzee shop. These three components are particularly noteworthy among the range of features that are available.
In the ecologically conscious Zero Tolerance Game, players can earn CHMPZ tokens by reaching particular objectives. Chimpzee NFT passport holders get extra benefits for a better passive income experience within the Chimpzee ecosystem, which adds to the total number of CHMPZ tokens. The process for obtaining a Chimpzee NFT passport is described below in detail.
Also, Chimpzee is about to release a smartphone app that uses AI to generate customized Chimpzee AI avatars. With the help of this creative smartphone app, users can create unique chimpanzee avatars. Users must obtain the Diamond NFT Passport in order to utilize this feature, which allows them to personalize a Chimpzee NFT passport that acts as their digital identity within the ecosystem.
In summary.
Because of its charitable endeavors, Chimpzee has the power to revolutionize how people interact with cryptocurrency ecosystems. These initiatives demonstrate how cryptocurrencies can improve the well-being of all living things in ways that go beyond their obvious financial advantages. Contribute a little by looking into the CHMPZ presale right away.
.
Securities and Exchange Commission (SEC) commissioner Hester Peirce has voiced her vehement disapproval of the way the SEC has handled the charges against cryptocurrency startup LBRY.
Peirce, who has a reputation for supporting the cryptocurrency sector, stated in a statement that was made public on Friday that the SEC's assertions that securities laws are clearly applied to token projects are baseless.
Peirce asserted that there is presently no practical way for businesses such as LBRY to register their functional token offerings with the SEC, in contrast to the agency's claims.
She also stressed the fact that registration would be a pointless exercise even if it were feasible.
"It wouldn't be a very beneficial endeavor even if a business succeeded in registering its token offering. ".
Peirce emphasized the value of compliance in safeguarding investors, but he also emphasized the dearth of practical choices that token projects requesting regulatory clearance have.
Plans to Close Operations are Announced by LBRY.
Peirce made these remarks following LBRY's recent announcement that it would be closing.
The ruling comes after years of legal battle with the SEC, which first accused LBRY of selling unregistered securities and claimed the company had raised more than $11 million in U.S. S. at its token offering, including dollars, Bitcoin, and services.
Peirce expressed her frustration, saying she did not agree with the SEC's choice to go after LBRY but had been unable to speak out about her concerns in public while the case was pending.
A judge's decision that LBRY's token was subject to regulatory oversight and that the company had to pay more than $111,614 was previously appealed by the company. Nevertheless, the business eventually gave up on its plea.
Given the circumstances, LBRY stated that it is indebted to the SEC, its legal counsel, and an unrepayable private debtor.
Odysee is one of the company's assets that are being placed into receivership as a result.
All LBRY executives, staff members, and board members have resigned as of this writing. The startup stated last week that everyone will be complying with the legal requirements that remain unfulfilled, but no more.
If LBRY's token, LBC, should be categorized as a security or not, that question was not specifically addressed in the judge's July 2022 ruling.
Peirce drew attention to the fact that this ambiguity suggests that the LBRY blockchain might survive, albeit with more difficulties.
In March 2021, the SEC filed a lawsuit against LBRY, alleging that between 2016 and 2020, the company sold unregistered securities to institutional investors and platform users.
Additionally, according to the SEC's lawsuit, its LBRY Credit token (LBC) met the requirements of the 1933 Securities Act for classification as a security. From May 2018 to the present, the SEC had been looking into the blockchain-based publishing platform.
In November 2022, the SEC prevailed in the case, and the presiding judge determined that LBC (LBRY Credits) qualified as a security.
A court order to stop further sales of LBC was sought by the SEC along with a $44 million total penalty, divided equally between a civil penalty and disgorgement.
But after realizing that LBRY was not going to be able to afford the $22 million fine, the SEC asked the court to lower the fine to $111,614, citing LBRY's financial hardships and almost-bankrupt status.
.
At last, US regulators are having a conversation about digital assets backed by fiat, or stablecoins.
Stablecoins must be subject to government supervision as well, according to Federal Reserve Vice Chair for Supervision Michael Barr.
When Barr introduced his concept at a conference held in Washington, DC, he made it clear that a stablecoin is private money because it can be fixed to any form of money that the government issues.
They are also using the central bank's trust by using these digitalized fiat currencies as mechanisms for value storage and as a means of payment.
In light of these encouraging signs, Barr—who was chosen by President Biden to be the head of the Federal Reserve's bank enforcement division—has maintained that stablecoins need to be governed.
Extending his position, he said that in order to prevent endangering the integrity of payment systems or financial stability, stablecoins must be subject to an appropriate prudential financial framework.
Barr continued, "We have also given the banks under our supervision the appropriate guidance on how they should interact with their supervisors when considering use of these products.".
Barr's comments are in line with the growing consensus among US regulators that a firm grasp of the cryptocurrency space is necessary.
Calls for proper regulation of the rapidly expanding decentralized economy have been echoing inside the walls of Washington, DC, in recent years. Stablecoins, however, have received the least attention.
The US central bank, known as the Fed, has examined the possible effects on the economy of a privately managed digitalized sovereign currency only very briefly thus far this year.
To that end, in August of this year, the Federal Reserve introduced a new set of regulations aimed particularly at stablecoins and cryptocurrency assets.
The FBI announced the introduction of a new program in its set of regulations under the codename SR 23-7, or its Novel Activities Supervision Program.
The Federal Reserve stated that in this new environment, it aims to improve the oversight of cutting-edge technologies used by financial institutions that fall under its jurisdiction.
These cutting-edge technologies focused on blockchain technology, cryptocurrency assets, and intricate, tech-driven alliances with non-banking organizations to provide financial services to consumers.
With respect to the goals of the SR 23-7 program, the central bank delineated that it would be risk-oriented and supplementary to the current supervisory protocols intended to govern banking operations.
The Federal Reserve said in a press release that banks would not be prohibited from taking part in stablecoin activities.
Before starting, though, they would have to demonstrate to the country's lender of last resort that the necessary safety precautions are in place.
Not Yet Made by the CBDC Decision.
The vice chair for supervision, Barr, also mentioned in his speech the long-standing search for a central bank digital currency (CBDC).
He said that in order to determine the most reliable and suitable cutting-edge technology to support a digital currency backed by a sovereign, the central bank is currently conferring with a wide range of experts.
Tokenization models for CBDCs, security, verification, and end-to-end system architecture are the main areas of focus for this research. He did, however, point out that there had not been a unanimous decision regarding the issue of a CBDC.
But according to the Fed official, the US Congress and the White House have the final say in matters of policy.
While Europe is moving full steam ahead with plans for a digital Euro, the United States has been hesitant to launch a CBDC program.
Our European unity depends on the euro. Our currency would be future-proofed by a digital euro that coexists with cash. It would be cost-free, user-friendly, and safe. We're starting the preparation stage now, but the decision to issue a digital euro will come later. Christine Lagarde (@Lagarde) October 19, 2023. pic . twitter . com/fs81p7otVW.
European Central Bank (ECB) head Christine Lagarde said in a tweet on October 19 on X (formerly Twitter) that the ECB's governing council has approved initiating the preparatory phase.
.
Due to an ongoing email phishing campaign, Trezor, a cryptocurrency hardware wallet company, is looking into the possibility of a data breach.
Using his Telegram channel, anonymous blockchain investigator ZachXBT revealed a phishing attempt aimed at Trezor users on October 26. ZachXBT referenced a post from the account JHDN on X (formerly Twitter), which sparked worries that Trezor may have been compromised.
These worries stemmed from the discovery of phishing emails that appeared to have compromised user data and were delivered to the particular email addresses used to buy Trezor wallets.
Users claimed to have received phishing emails urging them to install an app from the "trezor . us" domain, which is distinct from the official "trezor . io" domain.
Users are urged not to click on links from unauthorized sources in order to protect their security while Trezor looks into the scope of the breach. Joséf Tetek, a brand ambassador for Trezor, acknowledged knowledge of the phishing campaign and described the company's continuous efforts to counter such threats.
Trezor notifies domain registrars of fraudulent websites, alerts users to potential dangers of phishing attempts, and does all of the above.
Users should never type their recovery seed into a computer or enter it directly into any website or mobile app. Following the directions on a connected Trezor hardware wallet is the only secure way to use the recovery seed. ".
In an earlier blog post from 2022, Trezor described how a phishing email scam works. Users who fall for these scams usually end up on a fake Trezor Suite app after clicking on a link in the email. After that, users are prompted by this phony app to connect their wallet and enter their seed. The app is compromised once the seed is entered, allowing the attacker to quickly move money to their wallet.
Although Trezor hardware wallets are renowned for their security features, phishing is still a serious threat to the cryptocurrency industry because it can trick users into giving up their private keys or wallets.
The crypto community is facing an increasing threat from phishing attacks, as Trezor has issued alerts.
Throughout the years, Trezor has faced numerous phishing attacks. The business offers users assistance in spotting scams and keeps an up-to-date blacklist of fraudulent websites. It has previously alerted users to a fresh phishing attempt that aims to steal their private keys in order to target their cryptocurrency investments.
Trezor used its X account to alert users early this year to an ongoing phishing attempt that aims to steal investors' money by tricking them into entering the recovery phrase for their wallet on a phony website. But Trezos isn't the only platform battling phishing. It has been reported by some cybersecurity experts that in 2022, there will be 40% more cryptocurrency phishing attacks.
Over 270,000 Ledger customers' personal information was made public by hackers in a significant data breach that occurred in 2020 at the competitor hardware wallet company Ledger. A massive phishing attack also happened to a crypto whale in September, causing them to lose millions of dollars in Ether that they had staked on the liquid staking provider Rocket Pool.
The investor's whole Lido Staked ETH (stETH) and Rocket Pool ETH (rETH) address balance was lost. The stolen funds were valued at an astounding $24 million at the time of the attack—$15.5 million in stETH and $8.5 million in rETH.
Notwithstanding numerous attempts to stop these frauds, cryptocurrency investors have been subjected to numerous phishing attacks.
.
On October, Kraken sent users an email. 25 stating that the Internal Revenue Service (IRS) must receive specific customer information.
On October, Kraken sent users an email alert. 25 That it would give the Internal Revenue Service (IRS) specific customer information. In May 2021, the IRS allegedly sent a summons to the cryptocurrency exchange company requesting a range of documents and information.
In an effort to counter those demands in court, Kraken said, it was able to restrict the number of clients impacted and lower the volume of data in question.
Despite this, Kraken stated that it is required to give the IRS access to customer profiles and transaction histories for any customer that made a transaction of more than $20,000 in any given year between 2016 and 2020. Names, birthdates, tax ID numbers, addresses, phone numbers, and transaction histories of users are among the details Kraken specifically demanded.
Kraken added that early in November 2023, the following month, it intends to release the data covered by the court's order.
The case between Kraken and the IRS was resolved in July.
Previous reports state that the relevant court case was resolved in July of 2023. In a public statement at the time, Kraken claimed that it had battled the IRS because the tax agency was requesting "intrusive and unnecessary information" regarding its U.S. S. Customers.
The business voiced worries that the IRS might release this information, putting its clients at risk of identity theft and other issues.
In addition to the more common information that the company still needs to supply, the IRS's initial order sought to have Kraken turn over the IP addresses, banking information, employment information, and wealth sources of users.
The IRS is required to receive specific on-chain data, according to those earlier reports; Kraken did not address this in its most recent email.
Coinbase, Circle, and Kraken are just a couple of the cryptocurrency businesses that the IRS has targeted. But cryptocurrency holders in the U.S. S. are often obligated, independent of any particular action, to disclose all cryptocurrency activity in their tax returns.
.
With the eight additional arrests made by Hong Kong Police on Thursday, the number of people detained in connection with the JPEX scandal now stands at 36.
Additionally, according to the police, 2,595 individuals have reported losses on the JPEX cryptocurrency exchange. By now, the total amount of money purportedly lost in the scam has risen to 11.6 billion yuan, or $213 million. The initial estimate of the amount defrauded was close to $154 million.
The Dubai-based JPEX was found to be operating without a valid license for cryptocurrency trading in the city state of Hong Kong, according to information released by the Securities and Futures Commission (SFC) of Hong Kong last month.
The JPEX scandal investigation is ongoing.
According to the police, all those who had been detained were freed on bond pending the completion of their investigations and would report to the authorities between the end of this month and the end of December. There are well-known influencers among those under investigation in connection with the purported fraud.
Joseph Lam, an insurance salesman turned barrister who calls himself Hong Kong's "Trolling King" on Instagram, was detained and interrogated by the police last month. YouTuber Chan Yee, who has 200,000 subscribers, was also taken into custody by the police.
Local media was informed by Hong Kong police that additional arrests are possible and that the investigation into the cryptocurrency exchange is still ongoing.
Authorities in Hong Kong Will Tighten Crypto Regulations.
In response to growing concerns about money laundering in the cryptocurrency industry following the JPEX scandal, Hong Kong's Commissioner of Customs and Excise, Louise Ho Pui-shan, has called for more oversight and regulatory actions.
A review of governance options for companies that enable the exchange of cash for cryptocurrencies—also known as cash-for-crypto shops—has been prompted by the fallout from the multimillion dollar scam.
In reaction to this scandal, the securities regulator and central bank of Hong Kong also imposed more stringent laws governing cryptocurrencies.
According to the updated guidelines, some cryptocurrency offerings will only be available to accredited investors.
The Securities and Futures Commission and the Hong Kong Monetary Authority stressed that retail investors may not be able to understand the complexities and risks involved in products related to virtual assets.
.
With a remarkable 80% market share, Upbit has cemented its leadership in South Korea's cryptocurrency exchange industry.
Upbit has dominated the market, according to recent research by DeSpread, with only a brief decline to 70% in August and a swift recovery to 80% in September.
Even though Upbit is the market leader, other significant South Korean exchanges like Bithumb, Coinone, and Korbit have also left their mark—albeit with much smaller market shares.
With about 15–20 percent of all trading volume across the four major exchanges, Bithumb, the second-biggest player in the market, continues to hold a dominant position.
Korbit has a market share of less than 1%, demonstrating its small presence in the market, whereas Coinone has a market share ranging from 3% to 5%.
Investors in Korea Reacted Well to Ripple News.
The trading volume of Korean exchanges saw a spike in July due to news about Ripple, while Binance, the largest cryptocurrency exchange in the world, saw a comparatively stable trading volume.
Selling XRP on exchanges by itself does not amount to an investment contract, according to a US court's ruling in favor of Ripple back in May in the SEC's ongoing lawsuit.
"Offer and sale of XRP on digital asset exchanges did not amount to offers and sales of investment contracts," the District Court for the Southern District of New York ruled in its ruling. ".
In the wake of Ripple's partial triumph, which caused XRP prices to soar by 80%, trading volume on the four main Korean exchanges rose from $27 billion in June to $37 billion in July, indicating a significant 37 percent monthly increase.
Trading volume on Korean exchanges has increased.
Korean exchanges have increased their market share and trading volume in spite of a general downward trend in trading volume across centralized exchanges (CEX).
The total trading volume saw a decrease, peaking at $45 billion in February and falling to $23 billion in May.
Since then, though, it has demonstrated an upward trajectory, rising to $37 billion in July. The relative strength of Korean exchanges in the global market is demonstrated by this growth, which exceeded Binance's.
As a matter of fact, the four main Korean exchanges continuously displayed higher trading volumes in comparison to Binance and Coinbase, demonstrating their noteworthy global presence.
In comparison to Binance, these exchanges' market share has increased significantly over the year, going from 7% in March to 16% in September.
This upward trend points to domestic exchanges' growing power in the cryptocurrency space.
As previously reported, a few high-ranking government officials in the Gyeonggi province of South Korea recently disclosed their cryptocurrency holdings.
.
The central bank digital currency (CBDC), the digital-rupee, is being actively promoted by Indian banks through a variety of incentives to users to encourage them to transact with the national digital currency.
Reward points and cash-back incentives are among these incentives, according to Reuters, which cited people with knowledge of the situation.
Banks Are Pressed by RBI to Increase CBDC Transaction Volume.
The Reserve Bank of India (RBI) has been pushing for increased transaction volumes using the digital currency, which is why the push to promote the digital rupee, or e-rupee, has been made.
The RBI launched the e-rupee pilot program in December with the audacious goal of reaching one million daily transactions by the end of the year.
Retail e-rupee transactions, which average about 25,000 per day, are currently, however, below the targeted amount.
The central bank is stepping up its efforts to boost adoption in order to address this. According to a previous report by CryptoNews, the RBI has added new features to the e-rupee, such as connecting it to India's well-liked real-time payments system, Unified Payment Interface (UPI).
Large Banks Provide Rewards to Encourage e-Rupee Adoption.
By providing incentives, a few of India's largest banks have embraced the drive to increase the use of e-rupee.
A number of banks have launched promotions to encourage e-rupee transactions, including HDFC Bank, the biggest private lender in the nation. The bank has not released any specific information regarding these incentives.
In this endeavor, smaller private banks such as Yes Bank and IDFC First Bank are also involved, providing reward points that users can exchange for a range of benefits, such as bookings for travel, mobile recharges, and cashbacks via the FastTag system, which is frequently utilized for highway toll collection.
It is anticipated that additional banks, such as Union Bank and ICICI Bank, will launch comparable incentive schemes soon in order to encourage e-rupee transactions.
It is believed that these incentives are primarily short-term in nature, even though they are referred to as "time-bound promotional incentives" and are a component of Yes Bank's digital strategy.
.
Didi Chuxing, the dominant ride-sharing company in China, has launched a new digital yuan service that enables residents in 250 cities to rent motorcycles with their CBDC coins.
The move concerns Didi Qingjue, a Didi Chuxing affiliate that runs a motorbike-sharing service powered by an app, according to the Xi'an Business News Network.
Affiliates of Didi Chuxing have previously been able to provide digital yuan-holding clients with CBDC payment options for bicycles and ride-hailing services similar to Uber.
When renting motorbikes, users in the pilot zone will now have the option to pay with e-CNY through the Didi Chuxing app. They can also initiate quick CBDC payment options on mobile widgets.
In June 2020, Didi, one of the first private transportation companies involved in the e-CNY project, started a trial program for bicycle sharing.
The Digital Currency Research Institute, the CBDC arm of the central People's Bank of China, and the company signed a "strategic cooperation agreement.".
The parties committed to "jointly study and explore the application of the digital yuan in the field of smart travel" at the time. ".
China's Didi is looking into options for digital Yuan payments.
Didi stated that it will "continue to promote the application of the digital yuan in the travel sector" and that its most recent action would help increase adoption and give its customers more payment options. ".
State-run public transportation companies in China have been among the nation's most enthusiastic adopters of the CBDC: Civil servants on public bus routes conducted some of the first "real-world" e-CNY transactions.
Rail networks, toll booths on highways, and city metro systems have all seen an increase in adoption in recent years. All bus lines in Jinan are now able to take digital yuan payments.
In some regions of the country—especially those that hosted the Asian Games earlier this month—inter-city rail networks have also been modified to accept e-CNY payment.
In the B2B space, Chinese banks have been developing supply chain financing solutions powered by digital yuan and e-CNY smart contract technology.
.
In the cryptocurrency market, real-world asset tokens are becoming more and more popular. Securing strong utility and use cases, they embody tokenized projects having a real presence in the real world.
The top real-world asset tokens to purchase right now are examined in this guide. Discover the most popular cryptocurrencies that connect the blockchain to real-world environments by reading on.
The Best Crypto Tokens with Real World Assets to Purchase.
The top tokens representing real assets in the real world as of 2023 are listed below in short order:.
Bitcoin Minetrix (BTCMTX): The Stake-to-Mine concept has been developed by this recently launched project. Staking BTCMTX tokens earns credits, which can then be traded for mining capacity for Bitcoin. Without having to purchase pricey hardware, Bitcoin Minetrix users can earn passive mining rewards. With over $2.3 million raised thus far, BTCMTX tokens are currently available for presale. Early investors can still purchase tokens at a discounted rate of $0.0112 each. Smart contracts and real-world data are connected by the Web 3.0 project Chainlink (LINK). Chainlink uses Oracle technology to provide real-time data from independent and verifiable sources to smart contracts. The project has practical utility because developers require LINK tokens to access Chainlink Oracles. Maker (MKR): Establishes a link between the blockchain and the ownership of tangible assets. Real-world assets can be tokenized by users and used as collateral with Maker. In the Maker ecosystem, this gives access to financial services. The price of Maker's native token, MKR, is 77% lower than in a bull market. Real-world financial assets like gold, oil, natural gas, and fiat money are tokenized by Synthetix (SNX). By allowing users to trade leveraged tokens, the Synthetix ecosystem provides access to traditional assets without requiring actual ownership. The collateralized assets are backed by SNX, which is trading at a discount of ninety-one percent. Internet Computer (ICP): By regaining control of the internet from Big Tech and giving it back to regular users, this real-world cryptocurrency project is revolutionizing the internet. With servers dispersed across an infinite number of nodes, Internet Computer is creating a decentralized, publicly accessible version of the web. The Polymesh (POLYX) project is integrating physical securities onto the blockchain. In addition to eliminating traditional entry barriers like compliance and delayed settlement times, Polymesh tokenizes regulated assets. Bonds and stocks alike can move to Polymesh, along with anything valuable. Connects offline lenders and blockchain technology with TrueFi (TRU). Traditional lenders are able to submit loan books to TrueFi's ecosystem, giving investors access to them. Both lenders and investors benefit from the situation, which allows them to partially offset their risk. Investors receive passive yields. Centrifuge (CFG): Tokenizing physical assets is the purpose of this layer 1 blockchain. It enables small-to-medium businesses to raise financing by using their inventory and other physical items as collateral. Through NFTs, assets are tokenized and used to obtain loans from DeFi investors.
Examining the Top Real World Asset Tokens.
Let's examine the investment thesis for the cryptocurrencies that are real-world assets and are mentioned above.
1. The ongoing presale of Bitcoin Minetrix, a Stake-to-Mine concept that enables remote mining, has raised over $2.03 million.
Bitcoin Minetrix, which is presently in presale, is the first cryptocurrency project to take into account in the real world. A revolution in Bitcoin mining is being brought about by Bitcoin Minetrix. Only those with abundant resources can engage in Bitcoin mining in its current form. In order to have any chance of mining Bitcoin successfully, you would need a whole rig full of ASICs. Not to mention a substantial energy expenditure.
With its stake-to-mine model, Bitcoin Minetrix is reintroducing Bitcoin mining to the general public. This is how it operates: users of Bitcoin Minetrix must first buy and stake BTCMTX, the native token of the platform. This ERC20 token yields Bitcoin Minetrix credits when it is deposited into a staking pool. After that, these credits can be exchanged for cloud mining capacity for Bitcoin.
It is that easy, really. It follows that neither the purchase of pricey hardware nor the consumption of large amounts of electricity are necessary. Rather, the whole procedure is economical and passive. Most notably, Bitcoin Minetrix is decentralized, in contrast to traditional cloud mining websites. Ethereum smart contracts provide security and allow BTCMTX holders to govern the mining ecosystem.
The fact that Bitcoin Minetrix releases users from lengthy mining contracts is another remedy. Conversely, users possess the ability to stake and unstake their tokens at will. As previously indicated, investors can now buy BTCMTX at a competitive entry price as Bitcoin Minetrix is presently holding its presale campaign. More than $2.3 million has been raised thus far.
This demonstrates how many cryptocurrency investors share Bitcoin Minetrix's vision. The current price per token for the Bitcoin Minetrix presale is $0.0112. The presale price will rise over the next few days. Up until the presale ends, prices will keep rising, rewarding early investors.
Just keep in mind that investing carries risks. Make sure you have a diverse portfolio because even the best cryptocurrency presales are notorious for their volatility and speculation. The Bitcoin Minetrix presale takes Tether, Ethereum, and debit/credit cards, should you choose to move forward. Since fiat purchases are subject to AML regulations, the latter requires KYC verification.
Start Date of Presale: September 26, 2023; Methods of Purchase: ETH, USDT, BNB Chain Ethereum; Minimum Investment: $10; Maximum Investment: None.
2. Chainlink is an Oracle technology that links smart contracts with real-world data.
One of the top real-world asset tokens to purchase at the moment is Chainlink. Since its founding in 2017, Chainlink has addressed a critical gap in the blockchain space by bridging the gap between smart contracts and real-world data. Through the development of Oracle technology, real-time data extracted from independent sources is fed into smart contracts.
This implies that smart contracts are not limited to blockchain transactions; they can also function independently based on actual events. As an illustration, let's say a decentralized sportsbook provides a market for wagering on the US elections of 2024. In order to verify the outcome, Chainlink smart contracts are able to scan thousands of news sources per second.
After the Chainlink Oracles have reached a consensus, the smart contract may then automatically pay out winning bets. Chainlink has applications in all sectors of the economy; this is just one example. This covers everything, from supply chain management and healthcare to financial markets and aviation.
LINK, one of the best utility tokens available for purchase, powers the Chainlink ecosystem. The explanation is straightforward: Chainlink Oracles cannot be used without LINK. Demand for LINK will increase over time as more people use the network. The best part is that bear market conditions have caused LINK tokens to drop, which allows new investors to get a steep discount.
LINK reached an all-time high of $52.88 in 2021, for example. The current value of LINK tokens is almost 79% less than its previous peak. Nevertheless, since its founding, Chainlink has grown by more than 7,000 percent, ranking among the top tokens representing real assets. eToro, a regulated cryptocurrency exchange that accepts fee-free debit/credit card and e-wallet payments, is the greatest place to purchase LINK.
In certain EU nations, investing in cryptocurrency is unregulated and extremely volatile. zero safeguards for customers. There might be a profit tax.
Three. Maker: Utilizing Oracle Technology to Link Smart Contracts with Actual Data.
Maker is a decentralized finance project that was introduced in 2017 and offers a wide range of tools and features. Taking out collateralized cryptocurrency loans is made possible by a fully functional lending ecosystem. Due to Maker's use of blockchain and smart contract technology, centralized lenders like banks are no longer necessary.
Among the best tokens for real assets is Maker. This is so that users can tokenize physical assets on the blockchain thanks to its ecosystem. Assume, for illustration purposes, that you possess one of the rarest Pokemon cards in circulation. In order to obtain financing, you wish to pledge your Pokemon card as security.
This is exactly what Maker allows you to do—it allows you to tokenize the Pokemon card and use its ecosystem's financial services. Thus, Maker establishes a connection between actual asset ownership and the blockchain realm. The native governance token of Maker is called MKR. In addition to having a finite supply, all of MKR's tokens are currently in use.
MKR tokens are currently trading for close to $1,500 apiece. But in the last bull market, MKR was valued $6,339; therefore, it is trading at a 77 percent discount. Thankfully, you can fractionize MKR tokens, so investing in Maker won't require you to take a $1,500 risk. Those on a tight budget will find MKR at eToro affordable, starting at just $10.
Investing in cryptocurrency can be extremely risky and unregulated in certain EU nations. No safeguards for consumers. Profits tax could be applicable.
4. Tokenizing real-world financial assets is possible with Synthetix, a decentralized ecosystem.
On our list of the top tokens representing real assets, Synthetix is also included. To put it briefly, Synthetix is a decentralized ecosystem creator that tokenizes financial assets. Assume, for instance, that you wish to learn more about gold. You may purchase "Synths," or synthetic gold bars, as an alternative to real gold bars and avoid the hassles of storage and security.
Because synths track the underlying asset's real-world value, they bear some similarities to contracts-for-differences (CFDs). But in contrast to CFDs, Synths are supported and collateralized by SNX, a native component of the Synthetix network. Furthermore, investors don't have to rely on online brokers or financial institutions because Synths uses smart contracts to operate on the blockchain.
Because Synthetix's ecosystem can tokenize almost anything, its use cases aren't limited to the gold industry. For example, other fiat currencies, cryptocurrencies, and commodities like silver and oil. Additionally, Synthetix supports inverse assets, enabling short-selling by users.
Leveraged derivatives are provided by Synthetix, where users can increase their positions by up to 50 times, just like with CFDs. One of the best emerging cryptocurrencies to purchase is SNX because of its strong use cases and real-world integration. With the SNX trading 91% below its all-time high, this is particularly true given the state of the market right now.
Investing in cryptocurrency can be extremely risky and unregulated in certain European Union nations. No safeguards for customers. Profits tax may be applicable.
5. Through Decentralized Super Computers and Canisters, Internet Computer is Revolutionizing the Internet Landscape.
The second-largest real-world asset token for valuation is Internet Computer, according to CoinMarketCap. Internet Computer is currently valued at more than $10.6 billion on the market. The "Super Computer" that Internet Computer refers to as its next generation of the internet is being built. By decentralizing online interactions, it seeks to usurp authority from Big Tech.
It distributes internet access without censorship or bias by utilizing blockchain networks. "Canisters" are websites that run on the modern internet, a concept created by Internet Computer. Let's look at a practical illustration. Let's say your goal is to create an internet-based sports memorabilia marketplace.
In the past, retailers had to go through a centralized online marketplace such as eBay or Amazon. In exchange for having to follow each platform's rules, merchants must cede control. On the other hand, the Internet Computer could be used to create the sports memorabilia marketplace.
Since servers are dispersed throughout the world, neither centralization nor control is a problem. Furthermore, the community, not a single person or organization, sets the rules for the marketplace. Play-to-earn games, decentralized finance, and metaverse ecosystems are just a few of the many use cases that this project has.
This gives the native token of the Internet Computer, ICP, significant utility because it is needed to access the World Computer. ICP is among the top winter crypto tokens to invest in, based on current prices. ICP reached its peak in 2021 at $750.73. The current price of ICP tokens is less than $4. This implies that investors will be able to obtain a discount of more than 99 percent.
6. The institutional-grade blockchain system Polymesh is used to digitize assets that are regulated.
Next up is Polymesh, a cutting-edge blockchain initiative targeted at banks and other regulated businesses. Simply said, Polymesh uses the blockchain to let businesses digitize regulated securities. Take bonds and stocks, for instance. It assists in removing traditional obstacles to investment entry.
Issues with identity verification, compliance, and delayed settlement times are resolved by doing this. Furthermore, because regulated assets are supported by smart contracts, Polymesh offers an extra degree of security to them. Let's examine a real-world illustration. Assume a development firm intends to construct a brand-new hotel complex in London.
Through regulated securities, they hope to raise money from investors. Along with being extremely time-consuming, the traditional process is also rife with red tape. Tokenized assets, or fractional ownership of the hotel complex, can be issued by the development company through Polymesh.
There are numerous applications for Polymesh's native cryptocurrency token. For instance, handling fees in POLYX are required of anyone wishing to issue security tokens. In addition, holders can vote on important proposals, making it a governance token. With a market valuation of just $165 million, POLYX presents a lot of opportunity for growth.
6. A company called TrueFi uploads offline loan books to the blockchain for investment opportunities and risk mitigation.
The blockchain industry and traditional finance are linked by the TrueFi cryptocurrency project. The purpose of this is to empower lending institutions to better manage loans and provide credit facilities.
Stated differently, it facilitates communication between lenders and borrowers through the blockchain, providing funding and investment opportunities for all parties involved. Take into account, for instance, a Kenyan lender who provides actual loans to locals.
Investors can access its loan book once it has been uploaded to the TrueFi ecosystem. These loans are accessible to anybody with cryptocurrency, generating passive income. According to the lender, TrueFi makes it possible for them to reduce some of the risk.
TrueFi is a small-cap project with a $42 million current market value. The value of its native token, TRU, is markedly lower. 96 percent below its peak, investors can now purchase TRU.
8. The Layer 1 Blockchain Network Centrifuge Was Designed to Finance Physical Assets.
Using CFG as its native cryptocurrency, Centrifuge is a layer 1 blockchain. To finance physical assets on the blockchain, its network was created exclusively. Small-to-medium sized enterprises that might find it difficult to obtain funding in the real world are the target audience for this project.
By tokenizing their physical assets, Centrifuge allows them to use those assets as collateral. Consider the scenario where a tiny clothes retailer needs to raise money. Together with the store, they choose to tokenize their current inventory.
On the Centrifuge blockchain, NFTs stand in for the assets. The owner of the company could then borrow money against the assets and repay investors with interest. With only $134 million in market capitalization at the moment, Centrifuge's CFG tokens are trading 86% below their peak value.
Genuine Asset Tokens: What Are They?
Cryptocurrencies with a physical connection are known as real-world asset tokens. This closes the gap that exists between the blockchain ecosystem and everyday life. Since real-world asset tokens are frequently backed by physical assets, cryptocurrency investors consider them to be sound investment opportunities.
This provides strong use cases for the corresponding project, increasing the likelihood of long-term appreciation. For instance, Bitcoin Minetrix provides its decentralized community with the space for conventional Bitcoin mining. Credits earned by staking BTCMTX tokens can be exchanged for mining power.
It follows that users of Bitcoin Minetrix can mine Bitcoin without requiring any ASICs to be owned. Consequently, Bitcoin Minetrix is an excellent illustration of how blockchain technology can be combined with physical assets. Chainlink does the same thing by taking data out of the real world and feeding it into smart contracts.
This allows decentralized apps to decide not just on the basis of blockchain data but also on actual occurrences in the real world. Next is Maker, a blockchain-based platform that enables users to tokenize physical objects and utilize them as collateral. In response, users can obtain financial services by using their tangible possessions.
Coins with Real World Assets: Why Invest?
Let's delve deeply into the real-world asset coin investment thesis. Continue reading to find out why actual cryptocurrency coins are currently the hottest thing.
Access Point to Offline Resources and Marketplaces.
Tokens representing real assets in the real world give access to markets that might otherwise be hard to reach. Think about the difficulties involved in purchasing a hard commodity such as oil.
Most investors would need to think about alternatives, like oil stocks or ETFs, unless they have the space to store actual barrels.
By tokenizing any real-world asset, including oil, Synthetix resolves this problem. In short, Synths give investors exposure to the global oil market in real time without requiring them to physically hold any oil.
In a similar vein, think about the problems with conventional Bitcoin mining. Fully operational mining farms with ASICs, rigs, and cooling fans valued at millions of dollars dominate this market. In addition, there are substantial energy consumption costs and full-time staff.
Through the Stake-to-Mine framework, Bitcoin Minetrix resolves this problem. By staking BTCMTX tokens, users can mine Bitcoin without requiring any hardware. Bitcoin mining power can be obtained by converting BTCMTX tokens as profits mount up.
Eliminate Real-World Financing Frictions.
Securing funding in a reasonable and economical manner is a problem that the greatest real-world asset tokens address. Indeed, with interest rates at almost all-time highs, financing has become unfeasible for small- to medium-sized enterprises.
Centrifuge is useful in this situation. Businesses can tokenize their assets on the blockchain with Centrifuge. They do this by using their tokenized assets as loan collateral. Take an Amazon seller of virtual reality (VR) headsets, for instance.
In order to grow the company into augmented reality, the merchant is looking to raise capital. They can tokenize their existing VR inventory through Centrifuge in order to obtain a loan. Investors fund the loan, and the Amazon merchant pays interest to them.
TrueFi is another project in this field. In short, TrueFi serves as a bridge between the blockchain ecosystem and actual lenders. To reduce some of the risk, lenders can send their loan books to DeFi investors.
This implies that DeFi investors can experience real-world loans without having to get out of their cozy home. The possibilities are truly endless, which is why investors are becoming more and more interested in real-world asset crypto tokens.
Great Potential for Growth in the Present Market Environment.
There has never been a better moment to purchase physical cryptocurrency tokens. Except for Bitcoin Minetrix, which is presently conducting its presale campaign, every project that was covered today is trading at a significant discount.
This is a result of general bear market circumstances that have affected most of the cryptocurrency market.
Consider the case of Chainlink. Offering real-time data to decentralized smart contracts, Chainlink has a sound business model.
For Chainlink Oracles to be accessed, LINK tokens are necessary, but since they peaked in 2021, their value has drastically decreased.
In actuality, the price of LINK tokens is currently 79% less than its peak.
With other real-world asset tokens, even greater savings are possible. As an illustration, Synthetix and Internet Computer are currently trading at discounts of 91% and 99%, respectively. In the eyes of many investors, quality real-world asset tokens will rise again when the next bull market happens.
Invest Initial Investments.
While some cryptocurrencies based on real-world assets are well-established projects, others are just getting started. For instance, Bitcoin Minetrix isn't even yet listed on cryptocurrency exchanges. Investors in presales are presently able to purchase BTCMTX, the company's native token.
In other words, you can make a start-up investment in Bitcoin Minetrix. Early-stage purchases are eligible for a significant discount, and presale investors receive the best price available. BTCMTX will be listed on cryptocurrency exchanges following the conclusion of the presale.
Pre-sale investments come with a high degree of risk, but they also present a unique opportunity for significant reward, particularly if the project is successful. Additionally, one of the greatest low-cap cryptocurrencies for 2023 is Bitcoin Minetrix, as it will close with a relatively modest valuation.
How to Select Real World Asset Tokens for Investment.
Continue reading to learn the best practices we recommend for developing a portfolio of tokens representing actual assets.
Make a shortlist and try to expand your horizons.
Diving into a wide range of projects is the optimal strategy. Investing in diverse markets, niches, and use cases is necessary for this. You should therefore compile a shortlist of possible investments by reading through a few whitepapers first.
You can learn about the actual Bitcoin mining sector, for instance, by using Bitcoin Minetrix. Staking BTCMTX, the native token, will yield passive benefits. You can access Bitcoin mining power by exchanging these rewards for credits.
Take Synthetix, which tokenizes tradable assets like gold, oil, and currencies, as an example in the financial sphere. Chainlink Oracles are another avenue for diversification. They supply blockchain networks with real-world data.
Crucially, a good risk-mitigation tactic is to invest in as many real-world asset tokens as you can. To get things started, CoinMarketCap provides a list of real-world cryptocurrency assets ranked by market capitalization.
Important Research Metrics: Exchanges, Volume, and Valuation.
Examine the important performance indicators of each project after you've narrowed down your list of possible investments. Chainlink, for instance, might catch your eye if you're searching for large-cap initiatives.
At over $6 billion, its current valuation is far less than the $21 billion Chainlink was valued at the height of the last bull market. Although it is listed on the biggest cryptocurrency exchanges in the world, Chainlink nevertheless provides a high volume of trading.
Tokens representing real assets with much lower market capitalizations are preferred by certain investors. This has a far bigger upside potential even though the risks are higher. TrueFi, for instance, is only currently worth $42 million. Even so, TrueFi continues to draw respectable trading volumes and is available on numerous tier-one exchanges, such as KuCoin and Binance.
Instead of picking one or the other, think about investing in both large- and small-cap projects. Your portfolio will become more well-balanced as a result of this.
Examine Use Cases for Tokens.
Since each real-world asset token is exclusive to its own ecosystem, they are all distinct from one another. This does not imply, however, that the token has any distinct use cases. For instance, the primary purpose of many real-world asset tokens is governance.
Despite the fact that holders can cast votes on important proposals, governance tokens serve no practical purpose.
Let us now juxtapose this with an initiative such as Bitcoin Minetrix.
Its native token, BTCMTX, powers the Stake-to-Mine framework, as we previously mentioned.
Staking BTCMTX tokens, therefore, enables you to mine Bitcoin passively.
Miners cannot operate without BTCMTX.
Synthetix is an additional project of great utility. Real-world assets need to be collateralized with SNX tokens in order to be tokenized. Because it is supported by real value, this lends credibility to the tokenized asset.
Get the Best Deal on Premium Tokens When You Load Up.
We are still in the middle of a bear market for cryptocurrencies. These markets move in cycles. Although it may not be to everyone's liking, new investors can purchase a variety of high-quality tokens at a substantial discount.
The greatest tokens representing real assets may experience a significant resurgence during the next bull market, though there are no guarantees.
In 2021, Internet Computer, for instance, reached an all-time high of $750.73.
You'll only pay $3.64 today, though. Compared to its peak, this amounts to a 99 percent discount.
Assume that Internet Computer rebounds to $750.73 in the upcoming bull market. This would require an upside of more than 20,500% from the current prices.
It's unlikely, but Internet Computer would only need to recoup a small portion of its previous all-time high in order to produce meaningful growth.
Several real-world asset tokens that have fallen since the peak of the bull market could go through the same procedure again.
Consider supply and circulation when evaluating the tokenomics.
Additionally, before making an investment in a project, we advise looking into the tokenomics. To be more precise, assess the entire quantity of tokens that have been produced. We favor initiatives that cap the quantity of tokens issued so as to prevent inflation.
The 21 million token cap on Bitcoin is based on the same idea. The 4 billion BTCMTX tokens that Bitcoin Minetrix has produced are the only ones that will ever exist.
Some real-world asset tokens, though, do not have a cap on the overall supply. As a result, existing token holders lose value as the developers are free to continue issuing new tokens.
Furthermore, you should evaluate the proportion of tokens in circulation to the total supply. This is dangerous if there are very few in circulation, particularly if the developers own the remaining portion. They could, after all, always dump the tokens onto the public market.
In conclusion.
In conclusion, tokens representing real-world assets are currently one of the most popular cryptocurrency niches. Since projects are tied to goods or services that exist in the real world, they provide strong utility and use cases.
All things considered, we think Bitcoin Minetrix, which is tokenizing the Bitcoin mining industry, looks good. With the Stake-to-Mine concept offered by Bitcoin Minetrix, staked tokens can be turned into mining power. Growing inventors are showing a strong interest in the Bitcoin Minetrix presale, which has raised over $2.3 million.
.
The rise of machine learning technologies is causing a significant change in the dynamics of investing. The shift is most apparent in erratic markets, such as cryptocurrency, where there is a strong correlation between high risk and high reward. Traditional financial strategies have been altered by these developments in machine learning algorithms, allowing market players to use predictive analysis for more sophisticated decision-making.
In light of these technological developments, new platforms are emerging that combine price prediction and artificial intelligence to provide sophisticated investment strategies. The cryptocurrency industry is witnessing a surge in opportunity as machine learning algorithms are becoming the foundation of financial decision-making.
Crypto experts are taking notice of a specific startup that focuses on predictive analytics driven by artificial intelligence. yPredict is seeking to use AI-powered cryptocurrency investment strategies as it enters the seventh phase of its fundraising campaign.
Go here to yPredict.
The Figures That Drive yPredict's Crypto Presale.
yPredict is in the process of raising $4.5 million for its campaign; if it reaches $4.58 million, the campaign will progress to its final phase. The token price will now change from $0.10 to $0.11.
Enter the thrilling realm of cryptocurrency trading with yPredict! Our state-of-the-art AI and machine learning technology provides traders with priceless insights for more profitable decisions. We also provide opportunities for AI enthusiasts to make money off of their passion. yPredict . ai (@yPredict_ai) October 17, 2023. pic . twitter . com/ZtWFZVxJV6.
Eighty million tokens, out of the 100 million total, are reserved for the presale. About $1.9 million worth of tokens will be up for sale when the eighth stage gets underway, with the goal of raising $6.5 million in total presale funds.
How yPredict Fits Into AI and Crypto?
With the use of cutting-edge AI, yPredict provides a range of services that go beyond what is typically offered by cryptocurrencies. The AI crypto service provider is expanding the realm of cryptocurrency investment and price prediction, offering services ranging from crypto signals to technical and sentiment analysis of well-known cryptocurrencies. yPredict intends to release its analytics product following the conclusion of its crypto presale.
There are many AI cryptocurrency projects in an industry valued at about $2 point 3 billion. But unlike other AI projects in the cryptocurrency space valued between $50 and $100 million, yPredict has a market capitalization goal of $6.5 million.
Unleash the Power of AI with $YPRED! Explore the realm of AI and trade benefits like never before. Discover the yPredict ecosystem, which offers discounted access to data repositories, prediction platforms, and more! Hold $YPRED tokens to secure privileged access! — yPredict . ai (@yPredict_ai) October 3, 2023. pic . twitter . com/k3sogrbDzr.
A rewards program that will direct 10% of subscription income toward a staking pool is being developed by yPredict, further solidifying its unique positioning and possibly providing an annual percentage yield that is higher than the industry average of 5–10%.
In addition to receiving discounted access to the various platforms in the yPredict ecosystem, such as data repositories and analytical tools, token holders will also benefit in other ways. The price prediction tool yPredict Analytics, which touts "extreme precision" in its capabilities, demands a $500 minimum token holding.
By strengthening its position in the domains of cryptocurrency investment and price prediction, yPredict is taking action as the presale draws to a close. Market analysts and potential investors are keeping a close eye on the startup as it carves out a niche at the nexus of cryptocurrencies and artificial intelligence.
.
In order to promote web3 integrations, create connections, and improve marketing tools, MoonPay, a digital asset payment platform, announced a partnership with Mastercard, a global payment company.
The company's Enterprise President, Keith Grossman, and Mastercard's Chief Marketing Officer, Raja Rajamannar, discussed the move at the Money20/20 event in Las Vegas, according to a blog post published by MoonPay on X (Twitter).
"We are thrilled to be working together to redefine customer loyalty and engagement with Mastercard, a well-known advocate of Web3 and the digital economy. ".
As Mastercard looks for cutting-edge ways to increase customer engagement and loyalty while building on a partnership the company started in 2022, digital marketing will continue to be integral to the partnership.
Introducing our official partnership with @Mastercard, a leading technology company in the payments industry ???????? pic . twitter . com/zdWzYefsPN — MoonPay ???? (@moonpay) on October 25, 2023. We are filled with excitement.
"Together, MoonPay and Mastercard will investigate how Web3 tools can improve experiential marketing to reach new audiences—including throughout Mastercard's well-known sponsorship portfolio. ".
As per the press release, Otherlife, a MoonPay subsidiary, is set to offer web3 creative services to both companies, with the solutions generated being crucial to the partnership.
All businesses aim for expansion.
In light of the recent regulatory scrutiny on the markets, MoonPay will incorporate Mastercard's tools, such as Click-to-Pay, Crypto Credentials, and Send, into its services to help guarantee that transactions on the cryptocurrency firm are reliable and compliant with regulations.
With an eye toward expansion and increased adoption, established payment companies such as Mastercard have made inroads into the digital asset market in recent years.
MoonPay's co-founder and CEO, Ivan Soto-Wright, outlined the importance of the collaboration for both companies' policies and added that it will change the way customers interact with brands.
Combining forces will increase the overall reach of our industry and open up new avenues for showcasing blockchain's potential to forge meaningful connections and moments. ".
According to Grossman, in order to meet their goals, the massive payment company will make use of every product in its portfolio, including ETHPass. "Mastercard will leverage MoonPay's full Web3 offering, from auth to minting to ETHPass and beyond, and collaborate closely with our agency, Otherlife, on strategy, creative, and front-end development work for their experiential projects. ".
Although the company has not yet released an official statement, Mastercard staff members have praised the partnership on a number of platforms.
The Mastercard web3 campaign continues.
With the goal of taking advantage of the increasing uptake and expanding the reach of its services, the company has been involved in the digital asset market.
The Chief of Mastercard Says Blockchain Can Provide Much More Value to Financial Services: According to Mastercard, blockchain technology and cryptocurrencies are beneficial and have the potential to provide significant benefits to the financial sector in general. — Cryptonews . com (@cryptonews) May 25, 2023; CryptoNews blockchainhttps://t . co/opxXriQLuQ.
A major shift in the adoption of traditional digital assets was predicted when Mastercard and Paxos announced their partnership last year, enabling banks to engage in cryptocurrency trading.
Paxos will offer custodial services in addition to other features, while Mastercard incorporates the service into the bank's interfaces to onboard additional users.
Similar actions were taken by the company in relation to non-fungible tokens by Coinbase and cryptocurrency hardware wallets."
.
With the recent developments in the market, the cryptocurrency exchange division of SBI Group, a major financial player in Japan, has forecast a minor increase in the value of XRP, the native token of Ripple.
As of press time, the price of XRP was $0.56; however, SBI VC Trade predicted in its most recent market report that it would rise to $0.62. The exchange also covered current events pertaining to Ripple's litigation against the Securities and Exchange Commission (SEC) of the United States.
However, given the growth of XRP-based international remittance services, it is undeniable that this recent good news has significantly lessened the pressure on XRP. Going forward, XRP will be widely embraced by individual investors, making it more well-known than ever. When the price of XRP stabilizes, it is probably going to increase if high liquidity is obtained. ".
The XRP token's price fluctuations were unexpectedly impacted by the US regulator's July 13 ruling in the legal dispute between Ripple and the SEC, which began in December 2020.
According to the report, "XRP surged immediately following the summary judgment on July 13th, but fell due to a wave of large profit-taking sell-offs.".
XRP Price History Recently.
Shortly after the decision, the value of the XRP token increased to almost reach a high of $0.90. SBI VC Trade noted that the rally did not hold, though.
With the SEC filing an interlocutory appeal on August 9, the price of XRP later reversed all of the gains from that day, falling to $0.63. An additional explanation for the slump was the increase in U. S. rates of interest over the long term.
The report also stated that XRP dropped below the pre-judgment level to $0.4405, following the sharp decline in Bitcoin on August 18.
The SEC's request to file an interlocutory appeal was denied by Judge Analisa Torres on October. 3. This caused the price to rise above $0.548 once more. But the October surge was short-lived, and on October, XRP dropped to $0.47. Twelve.
Amidst anticipations for the US to approve a Bitcoin spot ETF, XRP spiked higher to 0 points,5860, on October 24.
When Is the Best Time to Purchase XRP?
In light of the current market volatility and problems with external borders, SBI VC Trade underlined once more that "XRP is a risky asset.".
However, it is unlikely that XRP will rise steadily given that it is a risky asset with a number of underlying risk factors. ".
The issue of Russia's invasion of Ukraine and the ongoing Middle East conflict between Israel and Hamas were mentioned in the report. Concerns regarding the US fiscal deterioration, longer-term high interest rates, and slower US inflation were also mentioned.
It is challenging to choose to actively buy cryptocurrency assets other than XRP in this scenario. "
.