Crypto Sale

2024-02-11 22:47:00 Binance Seeks License to Reenter Japanese Crypto Market After Exiting 4 Years Ago

Crypto exchange Binance is reportedly seeking to reenter the Japanese crypto market. The company exited Japan four years ago after the country’s financial regulator warned that Binance was operating illegally without a license.

Crypto exchange Binance is seeking a license to return to the Japanese crypto market, four years after exiting the country, Bloomberg reported Monday, citing people familiar with the matter.

The key reasons behind Binance’s renewed interest in Japan are the Japanese government’s easing regulatory approach to crypto and substantial potential for user growth, according to one of the people.

A spokesperson for Binance told the publication that the company is “committed to working with regulators and policymakers to shape policies that protect consumers, encourage innovation, and move our industry forward.” However, the spokesperson would not comment on specific license applications, noting that “It would be inappropriate to comment on any conversations with regulators.” Open / Comment

2024-02-10 11:21:36 Eversheds Sutherland demands judicial protection of assets of foreign FTX clients

Eversheds Sutherland is demanding that the U.S. judiciary protect the interests of foreign FTX users and proposes to allocate the funds owed to them from the general bankruptcy estate. According to preliminary data, clients outside the U.S. account for about $2 billion.

"The FTX bankruptcy case is in its fourth month. However, the legally important question of who owns and how much of the assets on the FTX.cоm exchange has not yet been resolved," said a spokesman for Eversheds Sutherland.

In their appeal to the court, lawyers have expressed fears that their clients' funds may be used unnecessarily to cover the significant operating costs associated with litigation and legal costs.

According to documents available to Eversheds Sutherland, various legal and financial advisers to FTX's bankruptcy liquidation committee have already billed about $20 million for work done.

Earlier, FTX's interim administration sued FTX Digital Markets and its Bahamian liquidators, claiming they were improperly claiming the cryptocurrency exchange's assets. Open / Comment

2024-02-09 14:03:49 BNB Chain-Based DEX Level Finance Votes on Transferring $200M to Treasury

The community of Level Finance, the decentralized crypto derivatives exchange, is voting on moving over $200 million of its native LVL tokens to its decentralized autonomous organization (DAOs) in a move that is expected to bolster value for token holders.

The proposal, which began on Thursday and is set to close on Friday, comes ahead of a protocol upgrade meant for mid-April.

“The entirety of the remaining ~$200m LVL [ex-team allocation] will be transferred to the DAO’s administration and fully owned by the Treasury,” the proposal read.

“Rewards, incentives, as well as all emissions will be made directly out of the DAO. Proposals and delegations of votes will be live, and the community (along with our new ecosystem partners), will collectively materialize the full potential of the project alongside our team,” it added.

At writing time, 100% of all voters were in favor of the move. Level’s native LVL tokens were nominally down – but may gain in the weeks ahead as newer incentives are created for token holders from the capital infusion.

Level allows users to trade financial derivatives, such as futures on bitcoin (BTC) and ether (ETH), with low slippage and cheap fees. It also offers high leverage of up to 30 times the initial collateral.

The protocol has seen immense growth despite launching in early January. Over $6 billion worth of tokens has been traded on Level in the past three months, with liquidity providers earning over $7 million in cumulative fees. Open / Comment

2024-02-03 12:33:01 Latin American Crypto Company Ripio Launches U.S. Dollar-Pegged Stablecoin

Latin American crypto services provider Ripio has introduced a stablecoin pegged to the U.S. dollar, in part to offer Argentinians a way of protecting their assets from inflation.

Ripio users in Argentina, where annual inflation is running at 115%, are already able to purchase the UXD stablecoin, also called Criptodólar, the company said Thursday. The stablecoin, which is also available in Brazil, is hosted on LaChain, a Latin America-focused layer 1 blockchain launched in June by Ripio in collaboration with SenseiNode, Num Finance, Cedalio and Buenbit, among others.

In June, Ripio CEO Sebastian Serrano told CoinDeskTV that despite the bearish crypto context, the use of stablecoins in Latin America is growing and becoming more common.

“In response to the complex economic situation facing Latin America, in particular Argentina, we have created Criptodólar: an innovative solution to help individuals combat inflation and protect their assets,” Serrano said in a statement, adding that the company plans to incorporate UXD to its Ripio Card.

Ripio was founded in Argentina and also now operates in Brazil, Uruguay, Colombia, Chile, Mexico, the U.S. and Spain, where it recently obtained approval to operate as a crypto exchange. The company has 8 million users and transacts $200 million a month. Open / Comment

2024-02-02 15:01:49 Waterfall is the most decentralized BlockDAG protocol currently available

Key Features:

This decentralized platform has the potential to attract much more validators than other protocols.
Minimal hardware requirements: Dual-Core CPU, 4GB RAM (your cellphone has 2-4 times more than that).
High performance and scalability, thanks to parallelism in BlockDAG compared or even higher potentially that the most scalable currently popular protocols
Compatible with EVM and Ethereum API.

The team includes senior people who were successfully building the ecosystem for Ethereum and those who were successfully competing against it:

Ron Resnick is the CEO of the company-developer of Waterfall, is also a former Executive Director of Enterprise Ethereum Alliance and a former Investment Director of Intel Capital.

Jeff McDonald is the Director at the Board of Directors for Swiss Association, is also a Former Co-Founder of Nem, which used to be in Top-5 and for a short time in Top-3 right after Ethereum.

The Chairman of Board of Swiss Association is Richard Wang, who is also General Partner at Draper Dragon Fund.

R&D team has been rigorously testing technology since 2021.

More than 275 Workers(block producers) on the TestNet are owned by the developers and future users of Waterfall.

On the first day after the new TestNet announcement, 115 Workers connected and more than 450 000 transactions were processed.

On January the 2nd more than 650 000 transactions was successfully processed.

Find out more details in our communities:
https://t.me/waterfall_network
https://twitter.com/waterfall_dag
https://discord.gg/Nwb8aR2XvR Open / Comment

2024-02-01 15:19:01 Latin American Crypto Company Ripio Launches U.S. Dollar-Pegged Stablecoin

Latin American crypto services provider Ripio has introduced a stablecoin pegged to the U.S. dollar, in part to offer Argentinians a way of protecting their assets from inflation.

Ripio users in Argentina, where annual inflation is running at 115%, are already able to purchase the UXD stablecoin, also called Criptodólar, the company said Thursday. The stablecoin, which is also available in Brazil, is hosted on LaChain, a Latin America-focused layer 1 blockchain launched in June by Ripio in collaboration with SenseiNode, Num Finance, Cedalio and Buenbit, among others.

In June, Ripio CEO Sebastian Serrano told CoinDeskTV that despite the bearish crypto context, the use of stablecoins in Latin America is growing and becoming more common.

“In response to the complex economic situation facing Latin America, in particular Argentina, we have created Criptodólar: an innovative solution to help individuals combat inflation and protect their assets,” Serrano said in a statement, adding that the company plans to incorporate UXD to its Ripio Card.

Ripio was founded in Argentina and also now operates in Brazil, Uruguay, Colombia, Chile, Mexico, the U.S. and Spain, where it recently obtained approval to operate as a crypto exchange. The company has 8 million users and transacts $200 million a month. Open / Comment

2024-01-31 15:02:48 Venezuelan Crypto Ecosystem Still in Shambles 4 Months After Sunacrip Intervention

The Venezuelan cryptocurrency ecosystem remains on shaky ground four months after the intervention of national crypto watchdog Sunacrip, and the arrest of its head, Joselit Ramirez, due to alleged participation in a $20 billion corruption scandal involving the undeclared sale of crude oil for crypto. There have been no official updates from Sunacrip’s restructuring board, but Bitcoin mining activities are still halted per local sources’ reports.

The government of Nicolas Maduro issued an executive order to intervene in the superintendence on March 17 after the arrest of its head Joselit Ramirez, who was accused of intermediating payments for $3 billion in undeclared crude sales to third parties.

The intervention of Sunacrip was followed by other measures that were not officially corroborated but were reported by local Bitcoin miners and media sources, like the operation’s pause in local exchanges.

This brought heavy losses for Bitcoin miners based in the country, with some mulling moving to more crypto-friendly nations, such as Paraguay or El Salvador. Open / Comment

2024-01-29 12:04:36 I Don’t Trust in Music NFTs”: French Electronic Producer DJ Agoria

While some see music NFTs—unique digital assets that often have both musical and visual components—are the future of the music industry, opening up new opportunities for both artists and fans, DJ Agoria, a prominent French electronic producer, composer, and DJ isn't too keen on the hype.

“Since the beginning, I was saying that I don't trust in music NFTs, even if I'm a DJ, an artist, and a musician. We don’t want to make music NFTs mainstream, we want music NFTs to be rare, and the fact that we develop things that people desire or fight to get, excites me more,” DJ Agoria told Decrypt at this year's NFT Paris.

For him, it's about going beyond platforms like Spotify where "for $10, you can have any type of music at any time."

DJ Agoria started his career back in the 1990s when raves dotted clubs around Europe, and those vibes are still alive today, making him “really believe in the desire and the need to look for something more.” Open / Comment

2024-01-23 10:42:40 ​CFPB not planning crypto crackdown, says Bureau Director Chopra

The Consumer Financial Protection Bureau is not planning an immediate crypto crackdown, its director said today, while choosing his words carefully.

“Crypto is not a product. Certain electronic consumer transactions are,” CFPB Director Rohit Chopra told The Block after an hours-long congressional hearing.

Digital asset policy came up frequently during a regular appearance by Chopra before the House Financial Services Committee, including further prodding around whether a recently published consumer alert bulletin related to crypto meant the bureau would step up enforcement on crypto companies.

“Do you anticipate expanding your enforcement in this area?” asked Rep. Bill Huizenga, R-Mich., referring to those reports.
“No,” answered Chopra.

The bureau has also moved ahead on an inquiry into crypto lender Nexo, which led to the company’s announcement that it would gradually leave the U.S. Open / Comment

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