$PRF Fair Sale is Live on the Parifi Website!
Parifi revolutionizes perpetual contracts with a dynamic pricing mechanism, utilizing liquidity curves, on-chain oracles, and advanced math models for stable and predictable market pricing.
Community Round 1: A Resounding Success!
- The LBP on @FjordFoundry sold out
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🔥 $PRF soaring on BitMart, 131.58% above sale price: https://www.bitmart.com/trade/en-US?symbol=PRF_USDT
⬇️ $PRF Fair Sale Details ⬇️
- Ends On: March 26th at 6 PM UTC
- Token Price: $0.012
- Chain: Chain agnostic
- 8.6M+ tokens snapped up in just 24 hrs
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📣 Polygon PoS Sidechain Leads the Way with Napoli Hard Fork, Embracing Dencun Upgrades
📌 The Napoli hard fork has propelled the Polygon Proof-of-Stake (PoS) sidechain to new heights, becoming the first network to embrace the groundbreaking RIP-7212 and other Dencun features.
💡 With EIP-1153, the network optimizes block space utilization, boosting overall performance and efficiency.
🔒 Enhanced security comes in the form of EIP-6780, which adds a layer of control to selfdestruct operations.
⚙️ Streamlining processes, EIP-5656 reduces technical overhead by improving memory copying instructions.
🌱 Not stopping there, Polygon plans to incorporate support for the fee-reducing upgrade EIP-4844 in its upcoming Feijoa release.
🤝 RollCall's work on RIP-7212 extends beyond Polygon, with other Layer 2 solutions like ZkSync Era and Optimism also joining the interoperability revolution.
🌐 David Silverman of Polygon Labs sees this as a pivotal moment for Ethereum's scaling strategy, with Layer 2 solutions emerging as an "innovation hub" and user-friendly onboarding point.
‼️ Crypto Council Stands with Coinbase Against SEC: A Battle for Fair Regulation
💼 In a show of solidarity, the Crypto Council for Innovation (CCI) has come forward as a friend of the court to support Coinbase in its ongoing legal tussle with the Securities and Exchange Commission (SEC).
🛡 Coinbase's plea for clearer rules was met with a disappointing denial from the SEC back in December 2023. But it seems the exchange isn't backing down, arguing that the regulatory body's actions have been nothing short of arbitrary.
📝 An amicus brief might sound fancy, but it's essentially a way for those not directly involved in a case to lend their voice. And the CCI, with its diverse membership from across the crypto landscape, is doing just that – advocating for responsible global regulation.
📌 Ji Kim, the CCI's General Counsel, minces no words when he says that the SEC's approach is tantamount to "regulation by enforcement," which not only flouts the rulebook but also spells trouble for the burgeoning digital assets industry.
📣 Coinbase isn't just playing defense; it's gone on the offensive too. In March, it fired back at the SEC with a lawsuit demanding that the agency get its act together and provide some much-needed clarity for crypto companies.
🌍 The CCI warns that this regulatory quagmire isn't just hurting American innovation; it's also pushing businesses and investors toward more welcoming shores abroad. The U.S., once at the forefront of digital finance, risks losing its edge if it doesn't catch up soon.
🔍 It's not just about empty promises either. The CCI points out that the SEC's dismissal of Coinbase's request lacked substance, offering little more than a single sentence to justify its stance. That, according to Kim, is a far cry from what the law demands.
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We’re so back: Bitcoin reaches ATH, Altcoins are pumping, but the main hype is still around MEMECOINS 🤫
There are so many, but PublicMemeCoin was the one to grab my attention. The project is super secure as of the KYC compliance by Certik.
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📣 Philippine Central Banker Unveils Project Agila: A Leap into wCBDC Pilot
💡 Philippines' Central Bank (BSP) Sets Sights on CBDC Pilot Completion by Year-End
Deputy Governor Mamerto Tangonan of the BSP has announced an exciting initiative, revealing plans to launch a pilot for a Central Bank Digital Currency (CBDC) by the end of this year. The goal? To explore the potential of this technology and its claims.
✔️ Six Financial Institutions Join Forces for CBDC Testing
In collaboration with BDO Unibank, China Banking Corp., Land Bank, Rizal Commercial Banking Corp., Union Bank, and Maya Philippines Inc., the BSP aims to test the CBDC's capabilities in transferring funds between these institutions. But that's not all; they're also eyeing higher-value services like securities settlement.
🌐 Democratizing Access to Securities: A Vision for All Filipinos
Imagine a future where even Juan or Maria can easily own securities! Deputy Governor Tangonan envisions a more inclusive financial landscape, where smaller issue sizes and lower fees make investing accessible to all. This leap into CBDCs could be a game-changer for democratizing investments in the Philippines.
🔒 A Wholesale Approach: BSP's Strategy for CBDC Implementation
Governor Eli Remolona previously shared insights on the project, emphasizing that this would be a wholesale CBDC (wCBDC), available only through licensed intermediaries. By complementing cash rather than replacing it, the BSP aims to navigate potential challenges like disintermediation and financial stress.
📱 Crypto Caution: NTC Blocks Unlicensed Platforms, SEC Eyes Binance
While the BSP explores CBDCs, the Philippine National Telecommunications Commission (NTC) is cracking down on unlicensed crypto platforms. The Securities and Exchange Commission (SEC) is also keeping a close watch on Binance, with plans to block it in due course. Crypto's convenience is winning regulators over, but with caution.
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🚫 Republican Senators Take Aim at CBDCs: A Blow to Digital Currency?
💡 The U.S. Republican senators are not holding back in their opposition to central bank digital currency (CBDC). In a recent move, they introduced a bill that would prohibit the Federal Reserve from venturing into the world of programmable money.
🔍 This legislation comes at a time when the Biden administration and the Fed are actively exploring the potential of CBDCs. But Senator Ted Cruz (R-TX) is raising concerns about the intrusive nature of such digital cash.
🛑 The GOP's proposal goes beyond just stopping the Fed. It aims to block credit unions, banks, and other financial institutions from offering these digital currencies to their customers. The debate is heating up, and it seems partisan lines may shape the future of stablecoin technology.
💼 While Fed Chair Jerome Powell sees a CBDC as a secure asset for the public, he acknowledges that any progress on this front will require Congress to give it the green light. It's not just about convenience; it's about ensuring safety in the digital realm.
🛑 Avalanche Network Hit by Block Production Failure: Community Developers on the Case!
⏳ Nearly Two Hours of Disruption
Avalanche, the layer-1 network, faced a major setback with a block production failure that lasted for almost two hours. The incident was flagged on Avalanche's status page, catching the attention of users.
🔍 Avascan Browser Spots the Issue
The problem became evident when the Avascan browser showed no activity beyond block 42046853 at 19:13 UTC+8. This raised concerns about the network's health and stability.
➡️ Block Finalization Stall Under Scrutiny
The Avalanche team wasted no time and swiftly addressed the situation, labeling it as a "Block Finalization Stall." They assured users that diligent developers were already digging deep to identify and resolve the root cause.
⚠️ C-Chain Block Production Takes a Hit
On February 23, at 12:02:27 pm UTC, Avalanche's primary network encountered an unexpected roadblock in its block production journey. This impacted not only the primary network but also its P-chain and X-chain subnets.
🔎 Avalanche Explorer Shows Time Lag
Users browsing through Avalanche's blockchain explorer noticed a concerning delay in new block updates. It was clear that something was amiss, prompting further investigation.
💡 Importance of Smooth Block Production
Block production is the lifeblood of any blockchain network, ensuring smooth transaction validation and record-keeping. When this process falters, as seen here, it can lead to frustrating delays and operational hiccups.
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🚀 Bithumb IPO Plans ‘Accelerate’ as South Korean Crypto Exchange Eyes Public Listing
✔️ Exchange Takes Decisive Steps
In a bold move, Bithumb is spinning off its holdings operations into a separate company called Bithumb Investment. This strategic decision, outlined in a regulatory filing, will allow the exchange to focus on its core business of operating the crypto trading platform.
📈 Could Bithumb Bring Forward its Listing Plans?
With the recent surge in retail Bitcoin trading and the aim to boost market share, Bithumb hopes that this spinoff will pave the way for an accelerated IPO launch. By creating a new entity centered on the exchange business, the exchange aims to distance itself from ongoing legal issues and ensure the success of its public listing.
💼 Promoting Efficiency and Growth
According to a Bithumb spokesperson, this move will not only enhance operational efficiency but also boost the growth of the exchange. By adopting separate ownership models, Bithumb seeks to expand its reach and solidify its position as South Korea's first publicly listed trading platform.
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✅ Hong Kong's e-HKD Pilot Enters Phase Two: Innovating the Future of Digital Currency!
💡 The Hong Kong Monetary Authority (HKMA) is taking the next big step in its digital currency journey, launching phase two of the e-HKD pilot program. This isn't just a test run; it's an invitation for industry pioneers to propose exciting use cases for the central bank digital currency (CBDC).
🌐 The first phase, which concluded in October 2023, already showcased the potential of e-HKD in retail transactions, including programmable payments and tokenized asset settlements. Now, the HKMA wants to go even further, exploring areas like programmability, tokenization, and atomic settlement.
🟥 To supercharge this exploration, the HKMA is teaming up with Project Ensemble, a cutting-edge initiative focused on wholesale CBDCs. This collaboration aims to accelerate development while ensuring seamless integration with Hong Kong's financial system.
⏰ But time is ticking! The second phase is set to run until mid-2025, and organizations eager to contribute must submit their applications by May 17. The HKMA is particularly keen on proposals that prioritize innovation, consumer experience, regulatory compliance, and maximizing the use of e-HKD in Hong Kong.
🤝 It's not just about the central bank; key players from major financial institutions and payment firms are already onboard. Alipay, Bank of China, HSBC, Mastercard, Visa – these are just a few of the names that joined forces during phase one. Their expertise will be crucial as Hong Kong paves the way for a digital currency revolution!
🔒 EU Takes Aim at Crypto: Tightening the Noose on Sanctions Evasion
🚫 In a resolute move, the European Union (EU) has turned its attention to tackling sanctions violations, with a particular focus on the role of cryptocurrencies in evading restrictions.
💼 MEPs Vote for Tougher Measures
This Tuesday, Members of the European Parliament (MEPs) voted overwhelmingly in favor of implementing stringent new laws. The aim? To crack down on offenses like arms embargoes, travel bans, and asset freezes, with a keen eye on the role of crypto-assets.
💰 Crypto Assets Under Scrutiny
The updated legislation now explicitly includes provisions for "crypto-assets and wallets," expanding the scope of EU restrictive measures. This means that assets held in cryptocurrencies could be subject to freezing if linked to sanctions violations.
🟥 Standardizing Definitions and Penalties
Aiming for clarity and consistency, the new rules establish consistent definitions for violations across EU member states. By doing so, they hope to close any loopholes that might allow sanctions evasion.
🌍 Uniformity Across Borders
While these regulations are an important step forward, it's worth noting that enforcement still falls under the purview of individual member states. This can lead to discrepancies in how sanctions are defined and penalties imposed.
🟢 Enhancing Effectiveness
To bolster the effectiveness of EU sanctions, the directive also seeks to introduce more uniform and rigorous penalties for breaches. By doing so, they hope to create a stronger deterrent against sanctions evasion.
➡️ Overwhelming Support
With an impressive 543 votes in favor, only 45 against, and 27 abstentions, it's clear that parliamentarians from all 27 EU member states are united in their determination to tackle sanctions circumvention.
🇷🇺 Targeting Russian Sanctions
These new measures come as a response to concerns that EU financial sanctions against Russia were being sidestepped, highlighting the need for a more robust and unified approach.
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🏆 Binance Honored with Cyber Security Professional Award by Hong Kong Authorities
🌐 In the ever-evolving Web3 landscape, Binance, a leading cryptocurrency exchange, has been recognized by the Hong Kong government for its unwavering commitment to user protection.
💼 Under the prestigious banking and finance category, Binance proudly stands as the sole Web3 recipient of this esteemed accolade in 2024, solidifying its position as a cybersecurity trailblazer.
👮♂️ The Hong Kong Police Force has been a crucial ally in Binance's fight against virtual asset crimes. Their collaboration has not gone unnoticed, as Binance's efforts have earned them the Cyber Security Professional Merit Award.
🔒 Since its inception in 2016, these awards have celebrated the exceptional contributions of Hong Kong's cybersecurity professionals, and Binance's recognition further cements their dedication to safeguarding the finance and banking sectors.
🤝 By actively participating in initiatives like the Virtual Asset Investigation Course organized by the Cyber Security and Technology Crime Bureau, Binance has proven its commitment to knowledge-sharing and empowering law enforcement in tackling cyber threats head-on.
🌟 The selection committee praised Binance's proactive approach and partnership with local authorities, emphasizing that collective action is key in combating digital crime patterns and ensuring a secure cyberspace for all users.
🚀 Alfa-bank Takes Off: A New Era for Russian Finance with Digital Assets
🟢 Alfa-bank, the financial giant of Russia, is making waves in the industry with its latest offering – a groundbreaking "digital financial asset" backed by gold, stocks, and cash.
🔑 This innovative tool allows customers to diversify their investments across four asset classes, all conveniently accessible through the bank's own tokens.
🌱 The launch of Alfa-bank's DFA, called the Evergreen Portfolio, on its cutting-edge A-Token platform marks a significant milestone for the country's emerging digital asset scene.
➡️ Following in the footsteps of state-owned Sberbank, it seems that Russian banks are embracing the future. Sberbank even hints at exploring the exciting realm of NFTs on its new blockchain-powered platform.
📈 It's not just banks getting in on the action. Other players in Russia, including a major mining company and a locomotive producer, are also gearing up to issue their own DFAs.
💼 Alfa-bank is already making waves as a market leader, with their A-Token platform accounting for a whopping 45% of domestic digital financial transactions.
🌍 IOTA's $10 Million Boost for African Tokenization Startups
💰 The IOTA Ecosystem Foundation is investing $10 million in early-stage startups focused on tokenized trading of real-world assets (RWAs), with a particular focus on the United Arab Emirates (UAE) and Africa.
🚀 This funding will support tradetech ventures and accelerator programs, paving the way for a more interconnected and efficient global trade ecosystem, according to IOTA Foundation's Dominik Schiener.
🌐 IOTA sees immense potential in Africa and the UAE as leaders in advancing digital trade, aiming to reduce costs, shorten processing times, and boost SME efficiency by embracing digital payments.
📈 Despite a recent 9% surge in price to $0.29, IOTA remains 94% below its all-time high, but this bold move signals their commitment to driving innovation in the tokenization space.
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🚀 CME Group Takes Crypto Derivatives to New Heights with Micro-Euro Futures!
📈 In a move to cater to the growing demand for cryptocurrency derivatives, CME Group is set to launch Micro Bitcoin Euro and Micro Ether Euro futures on March 18, pending regulatory approval. This expansion aims to provide investors with more options and protect them in this ever-evolving market.
💡 As the popularity of digital assets like Bitcoin and Ethereum continues to soar, savvy investors are seeking innovative ways to manage their risk. CME Group's new offerings will allow them to hedge their crypto exposure more precisely, empowering them in their investment strategies.
➡️ The choice of the Euro as the base currency for these futures is strategic, given its status as the second most traded fiat. With the success of their USD-denominated contracts, it's clear that there's a strong appetite for such products in the market.
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🌟 Coinbase's GiveCrypto Donates $3.6M to Brink for Bitcoin Development
🤝 GiveCrypto's Generosity
In a heartwarming move, Coinbase's philanthropic arm, GiveCrypto, has announced a $3.6 million donation to Brink, a nonprofit dedicated to advancing Bitcoin. This exciting news was shared on February 16, leaving the crypto community buzzing with anticipation.
🚀 Fueling Open-Source Innovation
Brink wasted no time in expressing their gratitude, revealing that every cent of this substantial contribution will be channeled towards empowering their talented engineers and bolstering their impactful work on Bitcoin's open-source development. It's a win-win for innovation and progress!
🎁 The Evolution of GiveCrypto
While GiveCrypto may have faced challenges in the past, Coinbase's decision to redirect its resources towards organizations like Brink demonstrates a commitment to making a lasting difference. By focusing on sustainable initiatives, they aim to create an enduring positive impact within the crypto ecosystem.
💡 A Bright Future Ahead
Although the exact breakdown of funds between Brink and another charitable platform, GiveDirectly, remains undisclosed, this generous gesture from Coinbase signals a renewed focus on fostering growth and technological advancement in the world of digital currencies. The future looks promising indeed!
🚨 South Korean Police Bust Scam Coin Ring Linked to Winnerz: Arrests Made!
🔒 In a major breakthrough, South Korean authorities have apprehended a suspected scam coin operator in Gimpo, Gyeonggi Province. This arrest seems to be connected to the ongoing controversy surrounding the blockchain firm Winnerz.
💼 The individual charged with fraud, known as "A" in local media, is believed to be the CEO of a cryptoasset-related company. Shockingly, this enterprise allegedly used the allure of celebrities, including a former national soccer player, to promote their dubious coin.
➡️ However, the soccer star in question, Lee Chun-soo, has now come forward, stating that his images were used without his consent by the GDG coin project. This revelation adds another layer of intrigue to an already complex case.
💰 Investors were lured into buying this token with promises of early access and future profits. Sadly, their hopes were dashed as the coin never made it onto any domestic exchanges. Instead, they found themselves locked out of their investments on a GDG-related platform.
📉 The financial impact is staggering, with around 30 investors allegedly defrauded out of more than $2.25 million. It's worth noting that this virtual currency venture only started operating in March 2021 – a relatively short but destructive run.
👮♂️ After an initial setback last year, when their request for an arrest warrant was denied, the police have finally succeeded in bringing A to justice. This recent breakthrough likely stems from Lee's public statements and the mounting pressure on projects like Winnerz that are tarnishing the crypto industry's reputation.