Crypto Mountains

2023-04-08 11:57:32 ​Thai political party looking at PM race promises $300 in crypto upon victory

The country’s next general election will be held on May 14, at which time all 500 seats in Thailand’s House of Representatives will be up for grabs.

The Pheu Thai Party, a political party in opposition to the current prime minister’s in Thailand, has reportedly proposed giving nearly every citizen of the country roughly $300 in digital currency should it win the next election.

According to an April 7 report from the Bangkok Post, the Pheu Thai Party announced at an April 5 campaign event that it planned to give all Thai residents 16 years and older a stipend of 10,000 Thai baht — roughly $292 at the time of publication. One of the party’s candidates for prime minister, Srettha Thavisin, reportedly described the initiative as a stimulus project aimed at helping the local economy using blockchain technology.

Thailand’s next general election will be held on May 14, at which time all 500 seats in the country’s House of Representatives will be up for grabs. Current Prime Minister Prayut Chan-o-cha, a member of the United Thai Nation Party, is eligible to hold his position until 2025 if selected, following a decision from Thailand’s Constitutional Court regarding his term limit.

Though crypto exchanges and trading are generally permissible in Thailand, the country’s Securities and Exchange Commission has been considering a ban on staking and lending services and established stricter rules for crypto custody providers. The country’s central bank also warned crypto investors in 2021 about stablecoins pegged to the baht.

With Thailand’s population at more than 70 million, roughly 50 million–60 million of whom are older than 16, the crypto project could cost the government anywhere from $14 billion to $18 billion.

Thavisin’s plan to distribute funds equally to residents echoes that of United States presidential candidate Andrew Yang in the 2020 elections. Yang proposed that all eligible people in the U.S. receive $1,000 every month as part of a universal basic income initiative. Open / Comment

2023-04-06 15:00:04 ​Decentralized Futures - Traders' Salvation in 2023

After the collapse of FTX and many investment funds, most users questioned the reliability of centralized exchanges. CEX exchanges hold user funds and also require KYC verification with personal information about users.

On the other hand, centralized exchanges have the main tool of traders - futures, which help traders to maximize profits from each transaction.

So what to choose here? Safety or leverage?

There is an opportunity to choose both options. The Decentralized Dexilon exchange allows traders to trade derivatives so that can users keep their funds solely in their wallets.

The main features and benefit of Dexilon:
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- Minor 0.05-0.015% trading fee compared to other decentralized exchanges
- 50% of Takers Fee goes to chain validators
- Every limit order has a rebate - you are getting paid 0.01% for being Market Maker

Dexilon has recently released a trading terminal, which collects data from biggest centralized/decentralized exchanges, macro data, DeFI etc in order to provide traders with useful charts will can help to make better trading decisions.

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Other official links can be found on our website and in the Telegram EN chat Open / Comment

2023-04-04 23:30:00 ​73.3% of Q1 rug pulls happened on BNB Chain.

Rug pulls and other frauds made up a small percentage of losses compared to hacks and exploits, the report stated.

BNB Chain was the king of rug pulls in the first quarter of 2023, with over 73.3% of such scams in the entire crypto ecosystem happening on the network, according to an April 4 report from blockchain security firm Immunefi.

The report, titled “Crypto Losses in Q1 2023,” investigated a variety of crypto hacks and scams in the first quarter of the year. It found that Ethereum and BNB Chain were the two largest targets for hackers and scammers, with 68.8% of total losses from these networks combined. BNB Chain, in particular, made up 41.3% of total losses from hacks and scams.

One type of scam, in particular, reigned supreme on BNB Chain: rug pulls, a type of scam where developers raise funds and then close up shop without delivering a product or service. Immunefi stated that 73.3% of all rug pulls in the crypto ecosystem happened on BNB Chain in the first quarter.

Immunefi tech Lead Adrian Hetman speculated that the large number of rug pulls on the chain may be due to a culture that promotes forking open-source code :

“BNB Chain still has a serious issue with developers using forked code. Its community lacks a security-first approach and attracts many users looking for a quick way to earn money. That’s why we continue to see the biggest number of exploits and rug pulls in this ecosystem.”

Despite the prevalence of these scams on BNB Chain, Immunefi also stated that rug pulls and other frauds are a much smaller problem in the crypto community than hacks or exploits. Hacks were the “predominant cause” of losses in Q1 2023, the report said, whereas all frauds combined (including rug pulls and other scams) made up only 4.3% of total losses. Open / Comment

2023-04-02 16:00:04 ​Terra co-founder Daniel Shin’s arrest denied by court, citing low flight risk.

Shin currently faces multiple fraud charges, specifically concerning allegedly hiding risks associated with investing in the in-house tokens by Terraform Labs.

A local court in South Korea denied the prosecutor’s request to issue an arrest warrant for Terraform Labs co-founder Shin Hyun-Seong, also known as Daniel Shin. This was the second attempt made by South Korean authorities to reign in Shin following the recent arrest of Do Kwon — Terra’s other co-founder.

On March 23, Kwon was arrested at Podgorica airport in Montenegro while attempting to use fake documents to fly abroad. The Seoul Southern District Prosecutors Office took advantage of this situation and, on March 27, requested an arrest warrant for Shin, citing his involvement in cashing in illicit profits from Terra (LUNA) and TerraUSD (UST) sales.

However, the Seoul Southern District Court denied the request while citing unconfirmed allegations and the unlikeliness of Shin being a flight risk or destroying evidence, according to local media Yonhap.

Shin currently faces multiple fraud charges, specifically in relation to allegedly hiding risks associated with investing in the in-house tokens by Terraform Labs.

Following Kwon’s arrest in Montenegro, authorities from both the United States and South Korea have tried to extradite the entrepreneur.

As Cointelegraph reported, Montenegrin Justice Minister Marko Kovač said the U.S. made diplomatic efforts to ask for Kwon to be handed over, while South Korean officials have requested extradition.

“In the case when we receive several extradition requests, I would like to say that determining to which state they will be extradited is based on several factors like the severity of the committed criminal offense, the location and time when the criminal offense has been committed, the order in which we have received the request for extradition and several other factors,” said Kovač through an interpreter. Open / Comment

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2023-03-30 17:00:04 Some insider information about a new iGaming platform launch that you should not miss.

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They are launching in the upcoming weeks and hosting some pre-launch activities with an opportunity to win USDT.

So join their chat to be among the first ones to get all the updates and mine tokens at the most beneficial value. Open / Comment

2023-03-29 23:30:00 ​US and South Korea requested extradition of Terra co-founder Do Kwon — Montenegro justice minister.

Do Kwon may have to serve time in Montenegro if convicted of charges related to forged identification documents before any extradition to the U.S. or South Korea is granted.

Authorities from both the United States and South Korea have made efforts to have Terra co-founder Do Kwon extradited to their respective countries following his arrest in Montenegro.

At a March 29 press conference, Montenegrin Justice Minister Marko Kovač said the United States made diplomatic efforts to ask for Kwon to be handed over, while South Korean officials have requested extradition. Kovač made the announcement following Kwon’s arrest at Montenegro’s Podgorica airport on March 23, adding the Terra co-founder’s detainment had been extended to 30 days.

“In the case when we receive several extradition requests, I would like to say that determining to which state they will be extradited is based on several factors like the severity of the committed criminal offense, the location and time when the criminal offense has been committed, the order in which we have received the request for extradition and several other factors,” said Kovač through an interpreter.

Kovač said decisions regarding custody of Kwon will go to Montenegro’s high court. According to the justice minister, the Terra co-founder used allegedly forged passports while in Montenegro and may serve time in the country related to those charges if convicted before any extradition is granted.

Kwon’s whereabouts had largely been unknown following the collapse of Terra in May 2022, though he was often active on his Twitter account and said he was making “zero effort to hide” in September. In February, reports suggested that Kwon may have traveled to Serbia — the European country borders Montenegro to the north — after Interpol issued a Red Notice for his provisional arrest. Open / Comment

2023-03-28 16:00:05 New project: PassimPay
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2023-03-26 22:00:01 ​ Fujitsu interested in crypto trading services, trademark application reveals.

The brand wants to offer financial services, including accepting deposits, financing loans, financial management and the exchange of crypto assets.

Japanese tech giant Fujitsu filed a trademark application with the United States Patent and Trademark Office (USPTO), revealing its intent to offer brokerage services for cryptocurrency trading, among other crypto and non-crypto financial facilities.

Fujitsu’s trademark application aims to register a new mark which “consists of the stylized word FUJITSU with a sideways s-shaped swirl over the J and I,” according to the official document filed on March 16. The branding is dedicated to offering financial services, including accepting deposits, financing loans, financial management and the exchange of crypto assets.

The image above represents the updated logo Fujitsu intends to trademark for the services. In addition, the snippet below provides an overview of the services Fujitsu disclosed with the USPTO, along with the trademark request.

Fujitsu’s growing interest in Web3 became evident when it launched a Web3 acceleration platform for startups and partner companies in February. The platform aims to support the creation of a diverse ecosystem of Web3 applications across a range of use cases, such as digital content rights management, business transactions, contracts and processes.

At the beginning of 2023, financial regulators in Japan urged global regulators to introduce stricter banking rules for the crypto sector.

Deputy director general of the Financial Services Agency’s Strategy Development and Management Bureau, Mamoru Yanase, acknowledged that the problem wasn’t with crypto. “What’s brought about the latest scandal isn’t crypto technology itself,” he said, adding that the blame lay with “loose governance, lax internal controls, and the absence of regulation and supervision.” Open / Comment