Bitcoin Industry

2023-12-13 15:00:08 CHREMA Confirmation Airdrop EVENT

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Period: 2023.12.13 ~ 12.20(UTC)

Date of receipt: 2024.01.08 Open / Comment

2023-12-11 15:00:02 Binance P2P to Discontinue Russian Ruble Trading Pair From January 31 Next Year

Digital asset exchange Binance has announced a discontinuation of the Russian Ruble trading pairs on its peer-to-peer (P2P) platforms from Jan 31, 2024.

In a Dec 11 official announcement, the company disclosed that it would no longer support the Russian Ruble trading pairs for digital assets after the firm marked an exit from the country following wider regulatory and compliance concerns.

Fellow Binancians. Following the decision of exiting Russia with sale to CommEX, Binance P2P will no longer support the Russian Ruble (RUB) trading pairs, i.e., USDT/RUB, BTC/RUB, FDUSD/RUB, BNB/RUB, ETH/RUB, BUSD/RUB and RUB/RUB P2P trading pairs, starting from 2024-01-31 00:00 (UTC).

Users are expected to continue trading with the Russian Ruble on the CommEx platform and can connect the accounts to a corresponding Binance account to transfer assets held on Binance to CommEX following the market exit.

On the other hand, users can also opt to convert RUB for crypto via the spot market or withdraw the assets directly through fiat partners before the deadline on Jan 31. Open / Comment

2023-12-08 15:00:16 Reebok’s Blockchain-Powered Gaming Experience Set to Transform Fashion

AI and metaverse technologies firm Futureverse and American sports culture brand Reebok have joined hands to create AI, Web3, blockchain-based gaming, and metaverse experiences.

While the two are expected to make digital versions of Reebok wearables linked to non-fungible tokens (NFTs), it seems that they will focus heavily on gaming and metaverse.

According to the press release, the premier collaboration ‘Reebok Impact’ – digital shoes merged with AI and on-chain digital wearables – is set to launch in 2024.

It stated that,

“Reebok and Futureverse will debut “Reebok Impact,” a mind and heart-bending digital shoe experience that will allow mass consumers to dive into artificial intelligence and digital wearables.”

Futureverse co-founders Shara Senderoff and Aaron McDonald commented that the collaboration is a fusion of artificial intelligence (AI), Web3, gaming, and metaverse technologies. It will transform how consumers define digital fashion, they argued.

“It’s an invitation for consumers to step into a world in which their digital footprint is as significant as their physical one,” said the co-founders. Open / Comment

2023-12-05 15:00:03 Robinhood Reports a 75% Surge in Crypto Trading Volume in November

Robinhood has reported a substantial 75% increase in cryptocurrency trading volume for November compared to October, highlighted in a recent filing with the U.S. Securities and Exchange Commission (SEC).

In their detailed 8-K update to the SEC, Robinhood’s significant uptick in crypto trading in November was noted to mark a notable shift in the platform’s recent performance. This increase in trading activity comes after a period of comparatively lower engagement, suggesting a renewed interest in cryptocurrency trading among Robinhood’s user base.

The file provided by Robinhood to the SEC explicitly stated, “November Crypto Notional Trading Volumes were roughly 75% above October 2023 levels.” The “Notional Trading Volume” was defined as “the aggregate dollar value (purchase price or sale price as applicable) of trades executed in that asset class over a specified period of time,” November in this case.

Prior to this notable surge, Robinhood’s cryptocurrency trading had been witnessing a decline. The exchange had reported a significant decrease in transaction-based revenues from cryptocurrencies, with a 55% drop to $23 million in the third quarter of 2023. Open / Comment

2023-12-02 15:00:00 KuCoin Ventures Release $20K Grant to Build TON-Based Mini-Apps

KuCoin Ventures, the investment arm of crypto exchange KuCoin, has pledged a grant of $20,000 to the Open Network (TON) blockchain platform.

In a statement on December 1, KuCoin revealed that the funding is intended to support the growth and expansion of the TON ecosystem.

This includes financial support for five mini-applications that focus on payments, game finance (GameFi) platforms, research and development efforts, community-building initiatives, marketing activities, and incubation programs such as the TON Bootcamp.

By funding these innovative projects and empowering research and developments, the platform aims to create a vibrant community and effective marketing initiatives about the TON blockchain.

This grant initiative results from the collaboration between KuCoin Ventures and TON Foundation, a non-profit organization aiming to pave the way for future collaborations between crypto platforms and public chains. Open / Comment

2023-11-29 15:00:02 Zipmex Proposes Repayment of 3.35 Cents Per Dollar to Creditors in Latest Restructuring Plan

Zipmex has put forward a new proposal to repay creditors, initially offering 3.35 cents for each dollar of their claims as part of its restructuring efforts, according to Bloomberg.

This initial payout is part of a broader plan to address the crypto exchange’s $97.1 million debt and is contingent on the future recovery of assets, according to “people familiar with the matter.” The proposal could potentially increase the repayment to as much as 29.35 cents per dollar, depending on the success of these recovery efforts.

The sources also addressed that major creditors have expressed reservations about Zipmex’s latest plan. They are advocating for an independent review to closely examine the recent changes in the company’s assets and liabilities as reported in the October 4 court document. This scrutiny is seen as crucial for ensuring transparency and fairness in the restructuring process.

Zipmex’s Group Chief Executive Officer Marcus Lim commented on the situation, stating, “I am unable to comment on the on-going scheme of arrangement as this is confidential.” He acknowledged the presence of inaccuracies in the information obtained from the sources but chose not to elaborate on them. Open / Comment

2023-11-26 15:01:02 CoinFLEX Crypto Exchange Creditors Accuse Other Exchange OPNX of Wrongful Use of Assets

Creditors of the crypto derivatives exchange CoinFLEX are alleging that the newly established creditor claims marketplace OPNX, founded by bankrupt crypto hedge fund Three Arrows Capital (3AC) co-founders Kyle Davies and Su Zhu, wrongfully used CoinFLEX assets without their consent.

The accusations are detailed in a writ of summons filed in the High Court of Hong Kong and was first reported on by Cointelegraph on Thursday.

The plaintiffs, Liquidity Technologies and Liquidity Technologies Software, entities associated with CoinFLEX’s original operations, claim that OPNX co-founder and former CoinFLEX CEO Mark Lamb misappropriated assets, intellectual properties, and trade secrets of CoinFLEX during his tenure. The filing alleged that Lamb diverted clients and business opportunities to OPNX, solicited employees and contractors, and engaged in actions detrimental to CoinFLEX creditors.

Critics argue that Lamb’s actions have included forging a fake non-disclosure agreement and falsely representing OPNX’s association with CoinFLEX creditors. The accusations also highlight Lamb’s simultaneous involvement in setting up OPNX while serving as CoinFLEX’s CEO.

The legal action is a response to dissatisfaction with the restructuring of CoinFLEX, which halted withdrawals, leading creditors to form an ad hoc committee for deliberations. After the restructuring’s approval on March 7, creditors claim to have discovered Lamb’s actions against their interests, leading to the filing of the writ of summons. Open / Comment

2023-11-23 15:00:55 Lugano Integrates Polygon Protocol into MyLugano Payment App for Crypto Transactions

In a significant move towards solidifying its position as Europe’s emerging crypto-capital, Lugano city in the southern Switzerland Ticino region has seamlessly integrated the Polygon proof-of-stake (PoS) protocol into its crypto-friendly payment app, MyLugano.

Polygon, as revealed in a November 22 blog post, announced the successful integration of its PoS protocol into the MyLugano payment app, enabling Lugano residents to conduct transactions seamlessly within the broader Polygon ecosystem.

According to the announcement, the updated version of MyLugano introduces a cutting-edge multichain digital wallet for personal custody. The press release indicates that several tokens have already been integrated into this app section, with plans in place to incorporate more in the future.

Lugano has emerged as a global leader in crypto adoption with MyLugano, developed in collaboration with crypto company Tether, serving a substantial user base of 30,000 individuals, nearly half of the city’s population. This user-friendly app facilitates payments in digital currencies for local small- to medium-sized traders.

The MyLugano app, recognized with the prestigious IEEE Smart City Award, has enabled over 30,000 users to access a loyalty circuit through LVGA, the city’s proprietary stablecoin. The integration of Polygon PoS not only enhances MyLugano’s functionality as a local payment tool but also opens doors for users to explore a myriad of decentralized apps within the Polygon network. Open / Comment

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2023-11-20 17:01:48 Web3 Game Adoption Hinges on Free-to-Play Approach, Says YGG Co-Founder

To increase adoption, in 2024, most successful Web3 games will move away from the play-to-earn (P2E) model to free-to-play, according to Gabby Dizon, the co-founder of Yield Guild Games.

Now we see games like Axie Infinity Classic, where players must buy a minimum of three non-fungible token (NFT) Axies to play. The new games will want to do away with technical and financial entry barriers.

The point is, Dizon argued, that in order for mass adoption to happen, games need to be free to play first.

He said that,

“There’s an evolution of the business model where the games are free to play, and then at some point along the way while you’re playing, then you’re able to mint an NFT or start earning tokens, but a lot of new games aren’t really starting with requiring NFT ownership at the start.”

Dizon said that there is a wider effort among Web3 game developers to put gameplay first and tokenomics second.

Additionally, there is an issue of speculative Web3 gaming bubbles – and this pivot will be a part of the solution. Per Dizon, developers are focusing more on making games that players will continue playing, reinvesting money in the game, thus preventing “the in-game economy from becoming a cash-generating machine.” Open / Comment