Crypto Power - Shilling

2024-01-14 18:14:57 ​Tokenized Digital Real Pilot to Use Ethereum-Compatible Hyperledger Besu

Brazil continues to move forward with its plan of delivering a working version of its own central bank digital currency (CBDC), the digital real, for the end of 2024. According to reports, the central bank of the country chose Hyperledger Besu, an open-source, Ethereum-compatible blockchain platform, as the base upon which to run the tokenized version of the digital real.

Local analysts believe the compatibility with Ethereum might bring a slew of third parties to develop applications and services using the tokenized digital real, opening the economic playing field to more competition. However, this could also minimize the role of banks in the new digital economy. On this, JC Bombardelli, CTO of ed-tech startup Gama Academy, stated:

I don’t think it’s a total nod to the defi world because that would mean giving up a lot of controls that the central bank would never want to have.

Another reason for choosing Hyperledger Besu would be its open-source origins, which would allow the government to use it without having to pay for licenses. Open / Comment

2024-01-10 23:31:43 Crypto Startups Secure $201.4M in Funding: Futureverse and RISC Zero Lead the Way

Last week, venture capital and investment firms invested $201.4 million in crypto projects, with metaverse startup Futureverse and RISC Zero receiving the largest fundraises.

Eleven companies recently announced funding rounds, with two standout raises. Metaverse startup Futureverse secured an impressive $54 million from its Series A funding round, led by 10T Holdings and Ripple Labs.

At the same time, RISC Zero, a provider of zero-knowledge-proof tools for developers, raised $40 million in a Series A round.

Futureverse has a clear mission: to empower developers and users by providing a collaborative ecosystem that consolidates 11 metaverse infrastructure and content companies.

Futureverse intends to use the funds from the funding round to enhance its comprehensive technology, which includes the Futureverse Platform and The Root Network, its blockchain.

Apart from RISC Zero, the funding round featured five other infrastructure sector companies: Cosmic Wire, Manta Network, Echooo Wallet, Side Protocol, and Over Protocol. Open / Comment

2024-01-05 00:22:17 Bitcoin NFT Sales Achieve Meteoric Rise: December 2023 Shatters Records with $881M Explosion!

In a stunning display of blockchain brilliance, December 2023 emerges as the pivotal moment when Bitcoin NFT sales soared to unprecedented heights, boasting an awe-inspiring $881,223,753.92. This astronomical figure not only crushes prior records but heralds a new era of dominance in single-month NFT sales.

Spotlight on Participation: 111,713 Buyers and 98,744 Sellers Illuminate Bitcoin NFT Transactions!

The latest report from Cryptoslam not only discloses the mind-boggling sales figure but also casts a spotlight on the extensive engagement within the crypto community. An astounding 111,713 buyer addresses actively participated in NFT transactions on the Bitcoin chain throughout December, showcasing the widespread interest and fervor for blockchain-based assets. Simultaneously, the number of seller addresses soared to an unprecedented 98,744—an achievement that cements a new record for the highest monthly sellers.

Decentralized Renaissance: Bitcoin NFT Surge Mirrors Rising Popularity and Adoption!

The surge in NFT sales on the Bitcoin blockchain paints a vibrant portrait of the escalating popularity and adoption of digital assets. Both buyers and sellers are not merely participants; they are the architects of a decentralized and dynamic NFT marketplace, creating a thriving ecosystem within the crypto space. Open / Comment

2023-12-29 13:12:14 India's Regulatory Roar: Nine Global Crypto Giants Face Compliance Heat!

Compliance Notices Shake Crypto Foundations:
In a paradigm-shifting move, India's Financial Intelligence Unit (FIU) has issued show cause notices under the Prevention of Money Laundering Act (PMLA). The regulatory wave is set to reshape the crypto landscape, emphasizing the need for stringent adherence.

Focus on Crypto Titans:
The regulatory crosshair is targeting nine offshore crypto exchanges, featuring industry giants like Binance, KuCoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global, and Bitfinex. The FIU's emphasis on PMLA compliance signals a pivotal moment in global crypto regulation.

URLs in the Line of Fire:
Breaking new ground, the Indian government is actively pursuing the blocking of URLs associated with these exchanges. This bold step underscores India's commitment to comprehensive oversight and regulation of crypto activities.

Unanswered Queries Cast a Shadow:
As India charts unexplored regulatory territory, uncertainties loom over the consequences and timelines of non-compliance. The lack of established precedents adds an element of intrigue to this unfolding chapter in the crypto regulatory playbook. Open / Comment

2023-12-25 02:12:21 SEC Insider Predicts Major Move: Gary Gensler's Legacy Could Feature Approval of Spot Bitcoin ETF!

In a surprising twist, former SEC heavyweight John Reed Stark hints at a potential crypto milestone – the approval of a spot Bitcoin exchange-traded fund (ETF) under the leadership of Gary Gensler. Stark, now spearheading cybersecurity at John Reed Stark Consulting, brings a wealth of SEC experience, having founded and led the SEC Office of Internet Enforcement for over a decade.

Unusual SEC Maneuvers: This week, the SEC made waves with "rare" communications to spot Bitcoin ETF applicants. Fox Business journalist Eleanor Terrett spilled the details on social media platform X Thursday, unveiling the SEC's focus on ensuring alignment on cash creates.

Issuers were urged to remove any traces of in-kind redemptions from their filings.

Gensler's Crypto Legacy: As speculation swirls around Gary Gensler's impact on the crypto landscape, the tantalizing prospect of a spot Bitcoin ETF approval takes center stage. Open / Comment

2023-12-20 01:43:04 Cathie Wood’s Ark Invest sold $59 million worth of Coinbase shares, $15 million of GBTC last week

Ark Invest’s Coinbase selling spree continued last week, offloading $59 million worth of shares after disposing of another 18,962 COIN ($2.8 million) on Friday, according to the company’s latest trade filing. Cathie Wood’s investment management firm sold 12,142 Coinbase shares ($1.8 million) from its Innovation ETF, 2,278 ($337,000) from its Next Generation Internet ETF and 4,542 ($672,000) from its Fintech Innovation ETF.

Adding to the $42.6 million worth of COIN it sold on Wednesday, $11.5 million on Tuesday and $1.9 million on Monday, Ark unloaded a total of $58.8 million in Coinbase shares last week as it continues to rebalance its fund weightings amid a surge in COIN stock over the past month. Ark also disposed of $100 million worth of Coinbase shares in the prior week. Coinbase stock traded for $147.90 at market close on Friday — up around 4.5% for the week, 50% for the past month and more than 305% year-to-date to reach its highest price since April 2022, according to TradingView. However, the stock remains roughly 60% down from an all-time high of approximately $343 set during November 2021’s peak crypto bull market. Open / Comment

2023-12-16 15:16:25 Bitcoin ‘sodlers’ dump $4B in two days as BTC sales hit 18-month high

Bitcoin speculators panic sold as the BTC price corrected toward $40,000, the latest on-chain data suggests. Figures from on-chain analytics firm Glassnode show short-term holders (STHs) offloading more than $2 billion in BTC on Dec. 12 alone. Bitcoin saw its biggest single-day drop of 2023 this week — one which at one point totaled 8.1%, data from Cointelegraph Markets Pro and TradingView confirms.

Reacting, the more speculative subsection of the Bitcoin investor base followed in step, reducing their exposure in what appears to be a bout of cold feet on the market outlook. Glassnode reveals that STHs, which constitute entities holding BTC for 155 days or less, sent $1.93 billion worth of coins to exchanges on Dec. 11, followed by another $2.08 billion the day after. The last time single-day selling passed the $2 billion mark was in June 2022 — a reaction to the impending collapse of blockchain firm Celsius. In a post on X (formerly Twitter) on Dec. 12, James Van Straten, research and data analyst at crypto insights firm CryptoSlate, noted the significance of the week’s STH movements. Open / Comment

2023-12-14 00:09:29 KuCoin settles with New York for $22 million and agrees to block users from state: Reuters

Crypto exchange KuCoin will exit the New York market and pay $22 million to settle a lawsuit brought by the state earlier this year, according to a report from Reuters. New York Attorney General Letitia James had sued the digital asset exchange in March for violating the state's laws. The suit had named ether, along with other tokens, as unregistered securities that KuCoin had listed in the state.

The settlement will see KuCoin pay $5.3 million to the state and refund $16.7 million worth of cryptocurrency to 177,800 New York investors, according to Reuters. New York has one of the most active U.S. states in terms of writing new crypto rules. Last month, the New York Department of Financial Services released guidance to strengthen how firms list or delist coins. Other crypto firms have been probed in New York as well. In 2021, crypto exchange Bitfinex and Tether settled with the New York attorney general's office for $18.5 million after a two-year dispute. KuCoin CEO Johnny Lyu announced the settlement as well on X. Open / Comment

2023-12-09 11:00:28 Seattle judge accepts former Binance CEO Changpeng Zhao's guilty plea

A U.S. district judge has accepted a guilty plea from former Binance CEO Changpeng Zhao on charges related to anti-money laundering violations. Zhao, also known as CZ, pleaded guilty last month to anti-money laundering and sanctions violations following years-long probes by federal regulators. Binance agreed to pay $4.3 billion in one of the largest corporate settlements in history. Zhao agreed to pay a $50 million fine and stepped down as CEO.

Zhao also stepped down as chairman of the board of directors for Binance.US last week, effectively removing his influence from Binance.US's governance and rendering his interest in the U.S. arm of the exchange "purely economic." Zhao has been active on X since stepping down as Binance CEO and pleading guilty. Over the past week, he has posted about his lunch, reposted the new Binance CEO Richard Teng and talked about taking risks. "10 years ago today, I quit my job, sold my house, and aped into #bitcoin," Zhao posted. "No, I am not saying you should do the same. Many people asked, how could you take such risks? Me, I knew I could easily get a job... Everyone's risk profile is different. Open / Comment

2023-12-05 21:11:39 Fortnite embraces the metaverse with 3 new ambitious games

LEGO Fortnite is described as “the ultimate survival crafting LEGO adventure,” introducing “vast, open worlds where the magic of LEGO building and Fortnite collide. Designed for people of all ages to enjoy together, the game will encourage creativity, experimentation and collaboration through play.” Rocket Racing meanwhile will be “a supersonic arcade racer where players drift, fly, and boost with friends through an ever-growing selection of tracks”.

Developed by Psyonix of Rocket League fame, this new mode offers a much more robust racing experience when compared to the standard Fortnite karting seen across the BR map. Last but certainly not least is Fortnite Festival: “a new music game where players can play in a band with friends or perform solo on stage with hit music by their favourite artists”. As with Rocket Racing, this rhythm game is developed by an Epic Games subsidiary – Harmonix – known best for creating both Guitar Hero. LEGO Fortnite will go live on the 7th of December, with Rocket Racing following closely just one day later on the 8th – and Fortnite Festival bringing up the rear on the 9th of December. Open / Comment