Crypto Bubble

2023-02-25 16:00:14 ​ChatGPT is Helping This New Project Take Crypto Search to The Next Level

Ai-powered Web3-focused search engine Kaito just raised $5.3 million in a seed fundraising round, according to a recent TechCrunch report. Kaito says the funds will be used to increase the size of the team and speed up product development.

Participants in the round, which was led by Dragonfly Capital, include Sequoia Capital China, Jane Street, Folius Ventures, Alpha Lab Capital and Mirana Ventures.

Kaito utilizes AI technology to aggregate Web3-relevant information into a one-click product, scraping and summarizing information from platforms like Twitter, Discord, governance forums, Medium and podcast transcriptions.

Kaito’s search engine will also optimize search results by using similar techniques to the established giants like Google and Bing, such as ranking, topic mining and personalized recommendations. Open / Comment

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2023-02-24 10:03:22 ​Dapper Labs Ruling Could Spell Trouble for Other Centralized NFT Projects, Experts Say

A recent legal decision may offer some much-needed – though not much-liked – clarity on the regulatory landscape ahead for non-fungible tokens (NFT) that may define how centralized companies proceed in entering Web3.

The federal judge in New York overseeing a class-action lawsuit against Dapper Labs ruled Wednesday to deny the company’s motion to dismiss the suit, writing that the plaintiffs’ claims that Dapper Labs’ NBA-branded Top Shot Moments NFTs are securities – and that selling them without first registering with the U.S. Securities and Exchange Commission (SEC) was a violation of federal securities laws – are “plausible.”

In his 64-page Wednesday ruling, U.S. District Court Judge Victor Marrero of the Southern District of New York considered Dapper Labs’ NFT collection under the four prongs of the Howey test, a 90-year-old method devised by the U.S. Supreme Court to determine whether certain transactions qualify as “investment contracts.”

Marrero stated that the plaintiffs adequately argued that the Top Shot NFTs met each of the four prongs of the Howey Test. The fourth prong – that the profits expected from an investment must be derived from the efforts of others – was particularly important to Marrero’s analysis.

Because Dapper Labs controls the Flow blockchain the NFT collection is built on as well as the marketplace where the NFTs are bought and sold, Marrero suggested that the financial viability of the project was dependent on Dapper Labs’ continued success. Open / Comment

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2023-02-23 18:00:16 ​SolanaFM becomes the official explorer for Solanart Marketplace

SolanaFM recently announced their intention to become the official explorer for Solanart. With the collaboration, the zero-fee NFT marketplace will enhance its UI. SolanaFM is known for its elevated transaction overview. The explorer will allow Solanart users to trade and track their NFTs smoothly.

Despite launching in August 2022, SolanaFM has established a widespread audience. The next-generation Solana Explorer has been making headlines ever since its launch. It started with the explorer managing to secure 4.5 million dollars in the seed funding round.

SBI Holdings served as the funding round’s leader, along with companies like K3 Ventures, Etherscan, Zee Prime, etc. A year before that, Coinhako and Etherscan led another large investment round in which SolanaFM brought in a lot of money.

The Explorer exudes reliability, with the Solana network backing its services. Its accumulation of funding rounds helped the explorer expand its services and hire talented individuals. As an explorer, SolanaFM stands out on multiple fronts. Open / Comment

2023-02-22 19:40:12 Crypto 4 A Cause helps to solve the problems in DeFi charity!

With C4C you control your donations at all levels.
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C4C is an ERC-20 token project.

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C4C project successfully launches Game Pitch Deck & more!
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2023-02-22 12:00:17 ​Nigerian President Barred From Extending Old Naira Banknote Demonetization Deadline

With just a few days left before the old naira banknotes are demonetized on Feb. 10 as scheduled, a court in Nigeria has blocked the country’s president, Muhammadu Buhari, and the central bank governor, Godwin Emefiele, from further extending the deadline. Opponents of the central bank’s old naira demonetization plan have asked Buhari and Emefiele to extend the deadline again.

A Nigerian High Court recently issued a restraining order that stops the country’s president Muhammadu Buhari and the Central Bank of Nigeria (CBN) governor Godwin Emefiele from further extending the old naira demonetization deadline, a report has said. In the order, the court’s Eneojo Eneche reportedly said the duo, along with 27 commercial banks, must not extend or interfere “with the currency redesign terminal date of February 10 or issue any directive contrary to the February 10 date.”

According to a report, the restraining order was issued after four Nigerian political parties sought the court’s help in blocking the potential extension of the currency swap deadline by the central bank. As recently reported by Bitcoin News, the CBN extended the demonetization deadline from Jan. 31 to Feb. 10 in response to pleas by several pressure groups and politicians. Open / Comment

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2023-02-21 17:31:34 ​​Binance Sees Crypto Potential In India, But There's A Catch

The Indian Government has taken a strict stance on cryptocurrency adoption and trading in the country. However, the administration is yet to announce a regulatory framework over digital assets. Meanwhile, Binance, World’s biggest cryptocurrency exchange, seeks a potential future of crypto in India.

India holds huge potential
As per reports, Leon Foong, Head of APAC at Binance, looks at many possibilities of evolving cryptocurrency industry in India. He mentioned that nation’s developing Blockchain startups have gained the recognition of Binance and other tech experts. Foong highlighted that India possesses some basic advantages over other countries. The country can be a very large crypto market while it has many well trained engineers.

Binance APAC head added that India’s tech venture capital investment grew over $44 Billion in 2021. The huge4 amount of crypto and Web 3 related projects can outflow from the country if correct blockchain entrepreneurs get matched with the required capital and talent.

Restrictive policies hinder crypto growth
India still awaits a proper regulatory framework to govern digital assets. Meanwhile, the government has imposed a straight 30% tax on the crypto gains and a 1% Tax Deducted at Source (TDS) on every trade. This has eventually resulted in huge a drop in the investors getting into the digital assets markets. The traders feel skeptical about its future in the country.

Leon Foong noted that restrictive policies prevent the ecosystem from flourishing to its full potential. The digital assets market is very large and as the Web 3 industry will develop it will certainly generate huge amounts of jobs for the country. Eventually, this will certainly help the Indian economy to boost the future.

The report mentions a survey done by Binance to identify the trends in the Indian population. The survey depicts that more than 50% of the indian population is under the age bracket of 25 years. While around 34% of the people recognize them as the Millennials. These are the perfect conditions for digital assets to prosper in a country as young generations tend to be good at adopting new technologies. Open / Comment