131280
🔹 Daily DeFi & Ethereum News 🔹 Join also: @Metaverse_Defi_Nfts_Trading Contact for cooperations only: @ChengTF
🇪🇸 Crypto.com Achieves Important Regulatory Win To Expand Services In Spain
Singapore-based cryptocurrency exchange Crypto.com announced that it had obtained the Bank of Spain’s Virtual Asset Service Provider (VASP) registration. The registration came after a thorough examination of the exchange’s compliance with the Anti-Money Laundering Directive (AMLD) and other financial crime legislation, as well as its user protection measures. It will be able to provide a variety of goods and services to Spanish users as a result of this registration.
Crypto.com has announced further progress in obtaining regulatory licenses and approvals across multiple countries and regions. The company has received a Major Payment Institution (MPI) license for Digital Payment Token (DPT), as well as an MPI for e-money issuance, account issuance, and cross-border and domestic money transfer services from the Monetary Authority of Singapore. In addition to these approvals, Crypto.com has also been registered as a Digital Asset Service Provider (DASP) by the Autorité des marchés financiers (AMF) in France. The platform has also obtained registration approval as a crypto asset business from the UK Financial Conduct Authority (FCA).
Source
/channel/DeFi_Ethereum
💰 Cardano founder Charles Hoskinson goes hunting for aliens and UFOs
Cardano founder Charles Hoskinson is currently searching for an unidentified flying object — or some sort of space entity — that has crashed near the coast of Papua New Guinea in the Pacific Ocean. The project is operating an expedition led by Harvard astronomer Avi Loeb and his student Amir Siraj, who identified a “meteor of interstellar origin” that crashed into Earth from outer space in 2014. The search is part of the Galileo Project, which received $1.5 million in funding from Hoskinson in March.
The object’s interstellar origin has been verified by the United States Department of Defence, and the Galileo team may have already found a couple of its remnants. In a June 16 tweet, Hoskinson confirmed he is currently with the expedition team, saying they have found strange pieces of wire and fragments that could be from the crash. “Plenty of ground to cover and we haven’t even broken out the sluice sled yet,” he said. In a blog post on the same day, Loeb wrote: “Gladly, we already have one anomaly: a manganese-platinum wire with an abundance pattern that differs from common commercial products.”. This isn’t the first time Hoskinson has thrown capital behind a quirky project.
Source
/channel/DeFi_Ethereum
📣 Do Kwon Can Avoid SEC Charges Thanks To Hinman Emails
Dentons, the legal firm representing Terraform Labs and co-founder Do Kwon, has submitted new documents, including Hinman emails, in support of a motion to dismiss a complaint brought by the Securities and Exchange Commission in the United States (SEC). On June 15, attorneys for Terraform Labs and co-founder Do Kwon, as well as lawyers for the US Securities and Exchange Commission, submitted replies to the request to dismiss the complaint in the US District Court for the Southern District of New York.
Dentons previously represented Do Kwon in opposing a US SEC subpoena in its Mirror Protocol inquiry in 2021 and a class action lawsuit in the Singapore High Court in 2022. Terra is also represented by the legal firm in other litigation. Dentons, the world’s biggest legal company, was engaged by Terraform Labs and Do Kwon to assist with prosecution and investigation by US federal prosecutors. Dentons lawyers, who represent Terraform Labs and co-founder Do Kwon, argue that the algorithmic stablecoin UST (now USTC) is not a security since it was created for practical reasons rather than as an investment contract. The court hearing on Thursday focused on whether Terraform Labs’ digital assets qualify as securities under an investment contract.
Source
/channel/DeFi_Ethereum
📣 BLUR’s 196 Million Token Will Unlock Tomorrow
According to Token Unlocks, the unlock comprises several allocations, with roughly 115.6 million tokens distributed to previous and future core contributors, 75.4 million tokens allotted to investors, and 4.9 million tokens assigned to advisors. This unlocking event raises concerns about the possible influence on market mood and the purchasing or selling activity of SmartMoney and whales. The company secured $11 million in seed funding in March 2022 from Paradigm, eGirl Capital, 0xMaki, and LedgerStatus.
Many in the cryptocurrency world have speculated on the possible effect of the unlock on the market, with BLUR down over 5% in the previous 24 hours due to pre-emptive whale action. According to Token Economics statistics, the total tokens given to investors presently number 565,633,826 BLUR. In terms of whale activity, “0x06cD,” the eighth-largest holder, has withdrawn 10.5 million tokens from OKX since April 4th, with the most recent transaction taking place two days ago. “0x06cD” now has 13.5 million tokens ($4.3 million). A famous trader, oilysirs.eth, just acquired 100,000 tokens for $0.35, spending 20 ETH. The trader profited from the increase in the price of BLUR by 455 ETH.
Source
/channel/DeFi_Ethereum
🇭🇰 Hong Kong Official Invites Coinbase Despite SEC Investigation, June 11
Hong Kong’s Legislative Council member Johnny Ng has expressed his support for the crypto industry in Hong Kong and has invited Coinbase and other crypto exchanges to establish operations in the region. In a tweet, Ng acknowledged the important role that crypto trading operators like Coinbase play in the industry and offered his assistance to help them set up. He also hinted at potential stock listing opportunities, which could further bolster the industry’s growth in HK.
This move by Ng comes at a time when major players like Binance and Coinbase are facing lawsuits from the SEC. Despite this, Hong Kong has taken a progressive stance towards cryptocurrencies and has actively overseen crypto assets through regulation. In fact, the Financial Secretary of Hong Kong, Paul Chan, declared the government’s dedication to establishing a strong ecosystem for crypto and fintech in January 2023. Since then, Hong Kong has been working on formulating regulations and implementing compliance measures to nurture the expansion of the cryptocurrency industry. HKMA revealed its intentions to establish the groundwork for the introduction of a retail Central Bank Digital Currency (CBDC).
Source
/channel/DeFi_Ethereum
📣 New Stablecoin Bill Drafted by House Republicans as Compromise With Democrats
The Republican chair of the House Financial Services Committee has released a new draft of the leading U.S. legislative proposal for overseeing stablecoins, and it includes some of the positions of Democratic lawmakers. The bill posted Thursday is still just a draft, meant to be further discussed at a June 13 committee hearing, but it marks another potential move toward a bipartisan negotiation on the legislation.
This considerably shorter new draft is meant to start melding some of the two parties’ positions, according to a committee spokesperson, and also adds further points from Republican committee members. This version would call for the Fed to write requirements for issuing stablecoins but would still let state regulators oversee the companies issuing the tokens. It gives the Fed a few additional authorities of the Republican’s previous bill, including a power in emergency situations to intervene against state-regulated issuers. States could also pass their supervision duties over to the federal watchdog.
Source
/channel/DeFi_Ethereum
🇺🇸 SEC Sues Coinbase Alleging Unregistered Securities Sales
SEC sues Coinbase for unregistered securities sales after suing Binance one day prior. The SEC alleges Coinbase has been operating as an unregistered broker, exchange, and clearing agency since 2019. According to the lawsuit document, Coinbase has operated as an unregistered broker, exchange, and clearing agency since 2019. The SEC alleges that the US exchange has offered and sold securities without registering its offers and sales.
Coinbase has serviced over 108 million customers, accounting for billions of dollars in daily trading volume in hundreds of crypto assets. The platform merges three functions that are typically separated in traditional securities markets—those of brokers, exchanges, and clearing agencies. The SEC stated that the exchange has never registered with the SEC as a broker, national securities exchange, or clearing agency, thus evading the disclosure regime that Congress has established for our securities markets. The assets that Coinbase makes available include crypto asset securities, and the SEC alleges that the following tokens are securities: SOL, ADA, MATIC, FIL, SAND, AXS, CHZ, FLOW, ICP, NEAR, VGX, DASH, and NEXO.
Source
/channel/DeFi_Ethereum
📣 The Number Of Crypto ATMs Installed Increases Again After 4 Months Of Decline
After 4 months of seeing a decrease in the number of Bitcoin and crypto ATMs, this past May has recorded a positive increase. Over the first four months of 2023, the total number of crypto ATMs decreased steadily. At this time, the number of net crypto ATMs globally fell by 5,850. Yet, according to Coin ATM Radar data, 1,397 machines were added back to the worldwide crypto ATM network in May. Although large economies like as the United States and Europe contributed to the decline.
Crypto ATMs, also known as Bitcoin ATMs, are electronic kiosks where consumers may perform financial transactions, however they are built for cryptocurrency rather than cash. According to the research company How Many Bitcoin ATMs, there are around 63,000 of these crypto ATMs in the United States. If you’ve ever contemplated using one, here’s what you should know about them. Although Bitcoin ATMs do not contribute to the expansion of the Bitcoin network, they do act as a physical gateway for users to exchange fiat currency for crypto. Australia deployed a total of 233 ATMs in 2023, propelling it to the third-largest crypto ATM hub in the world.
Source
/channel/DeFi_Ethereum
🪙 Elon Musk Faces New Lawsuit Alleging Dogecoin Manipulation
The lawsuit claims that Elon Musk’s actions caused significant financial losses to the investors, amounting to hundreds of billions of dollars. The lawsuit, filed in a Manhattan court, alleges that during 2021, Elon Musk engaged in various activities to promote Dogecoin, including frequent mentions on his personal Twitter page and promoting the cryptocurrency on US television. The investors claim that these actions artificially inflated the price of Dogecoin.
The group of investors also highlights an incident in April 2023 when Musk sold $124 million worth of DOGE shortly after replacing the Twitter logo with the Dogecoin logo on his social media profile. This move allegedly triggered a 30% price spike in Dogecoin at that time. The lawsuit, which began in June 2022, also accuses Musk of directing his companies, Tesla and SpaceX, to accept DOGE payments to create a false perception that Dogecoin was a viable investment. The investors are seeking $258 billion in damages from Musk, Tesla, and SpaceX. Elon Musk’s legal team has been attempting to dismiss the case, dismissing the presented details as “fictitious.”
Source
/channel/DeFi_Ethereum
⚡️ Stunning $12M TVL Growth Sets New Record For Yield Farming App
A new yield farming application called Origin Ether has been making waves in the decentralized finance (DeFi) space. According to data from blockchain analytics platform DefiLlama, the app has amassed over $12 million in total value locked (TVL) just 14 days after its launch on May 16. TVL is a metric that measures the dollar value of assets inside an app’s smart contracts. Before the official launch, team members and early partners had already locked in $793,000 inside Origin Ether’s smart contracts.
Origin Ether’s official documentation reveals that the app generates yield from Ether by depositing it into multiple liquid staking and DeFi protocols. The app utilizes an algorithmic market operations strategy on Curve and Convex to maximize returns. Before being deposited into these protocols, some of the ETH is converted into liquid staking derivatives, such as Lido Staked Ether (stETH), Rocket Pool Ether (rETH), and Frax Staked Ether (sfrxETH). This allows users to gain additional farming rewards from these providers. the public launch on May 16 led to a rapid accumulation of deposits, which resulted in a staggering TVL of over $13 million by May 30. This represents a gain of approximately $12.6 million in just two weeks.
Source
/channel/DeFi_Ethereum
🔻 3.6% Optimism (OP) Tokens Worth $258 Million Will Be Unlocked This Week
According to data from Unlock Tokens, on May 31 of this week, 3.6% of Optimism tokens worth $258 million will be unlocked. This month there is one last major unlock on May 31 from the layer-2 Optimism project, with 154 million OP tokens – worth $248 million at current exchange rates. This amount of tokens is equivalent to 3.6% of the total OP supply. The amount of unlocked tokens will be allocated to the primary investor group and the development team.
Until June 6, Optimism will conduct an extremely important upgrade that is the foundation to improve many technical aspects and optimize transaction fees for this layer-2. Bedrock will also pave the way for another layer-2 solution that uses Optimism’s technology, Base, for mainnet deployment. One of the main advantages of the Bedrock upgrade is the expected reduction in transaction fees. OP Labs, the developer of the protocol for Optimism, estimates that transaction fees will drop by an impressive 47%. After a sideways period, the OP price recorded a 3% increase along with the positive news from Bitcoin today after the threat of US debt default waning. OP is currently trading at $1.66.
Source
/channel/DeFi_Ethereum
💰 Crypto Critics Peter Schiff To Launch Bitcoin Ordinals NFT Collection
Peter Schiff, an economist, gold supporter, and crypto skeptic, has announced a collaborative nonfungible token (NFT) art collection on Bitcoin that will soon be auctioned off. The crypto community’s response has been divided, with individuals usually perplexed, amused, and welcome, particularly Ordinals supporters or those willing to point out the obvious hypocrisy. For years, Schiff has openly criticized cryptocurrency, particularly Bitcoin, at every opportunity.
Despite this, Schiff launched the “Golden Victory” collection on May 27 through a Twitter thread co-created with one of his favorite artists, Market Price. The Golden Victory features the original painting (oil on linen – 48 x 60 inches) signed by both artists and copies numbered 1 through 50, according to the link given by Peter Schiff. Each print has a one-of-a-kind Signature etched on the Bitcoin blockchain. The auction will begin on June 2 and conclude on June 9. The first auction is for originals, while the second is for both originals and copies. On June 9, Peter and the artist attended the New York auction (295 Madison Ave, NY). In addition to criticizing Bitcoin, Peter Schiff pointed out two years ago that NFTs.
Source
/channel/DeFi_Ethereum
📣 Whales Transfer 9.7 Million FTMs To Binance Exchange Amidst Multichain Concerns
In recent news, a significant transfer of 9.7 million FTMs (Fantom tokens) to Binance Exchange has raised eyebrows in the cryptocurrency community. This transaction comes at a time when concerns over the Multichain incident have sparked panic regarding the status of Fantom. The whale address involved made the deposit at an average price of $0.33 per FTM, with an average purchase cost of $0.4.
On May 25th, Web3 knowledge graph protocol 0xScope took to Twitter to highlight the Multichain incident, which caused significant alarm regarding the state of FTM and the Fantom ecosystem. Adding to the growing concerns, a whale address recently transferred a substantial amount of 9.7 million FTMs to the renowned cryptocurrency exchange, Binance. The tokens were deposited at an average price of $0.33 per FTM, which indicates a considerable investment by the whale. It’s worth noting that the whale’s average purchase cost for the tokens was $0.4, suggesting that they may have acquired the FTMs at a higher price.
Source
/channel/DeFi_Ethereum
🇨🇳 Nanjing Launches China Government Backed Metaverse Platform
Nanjing City launched the China Blockchain Technology and Application Innovation Platform to build the China Metaverse technology and application innovation platform. This newly established Chinese state-backed organization is led by Nanjing University of Information Science & Technology (NUIST). According to the announcement on the official NUIST social media account, the platform is comprised of founding members representing diverse academic institutions and blockchain-related companies across mainland China.
According to a media report on Tuesday, Wu Zhong-ze, former Vice Minister of Science and Technology, emphasized the need for Chinese state agencies to introduce a series of metaverse applications in fields such as education, commerce, healthcare, and entertainment. He also urged the setting of metaverse industry standards. Nanjing is one of many Chinese cities vying for a leading role in the nation’s multi-dimensional development. The city announced its metaverse strategy in February 2023, setting the ambitious goal of establishing this industry generating annual revenue in excess of 135 billion yuan ($19.13 billion) by the end of the 2025.
Source
/channel/DeFi_Ethereum
EOS Network Participants Should Consider Legal Action Against Block.one: EOS Foundation CEO
EOS Network participants should consider taking legal action against major investor Block.one (B1) for "broken promises" over its investment in the ecosystem, according to the founder of the EOS Network Foundation. Yves La Rose said legal action is one of two possible ways to hold B1 to account for not investing the $1 billion it promised during the network's initial coin offering (ICO) in January 2018.
The other option is a hard fork to exclude EOS tokens held by B1 to fully disassociate itself from its former backer. "As a result of B1’s broken promises, the EOS Network is under-capitalized and the development of the EOS Network has been significantly stunted," La Rose wrote in a letter dated May 20. EOS token holders purchased their tokens "relying on representations of ongoing investment in the EOS ecosystem," which never came leading one to conclusion that B1 never intended to make the promised investments, according to La Rose. The EOS token is currently trading at $0.85 having slumped by 32% since April 14.
Source
/channel/DeFi_Ethereum
💰 Bitcoin Whales Acquire $3.5 Billion Worth Of BTC Despite Market Crash
As the cryptocurrency market tries to recover from the downturn it has been going through in recent weeks, it is interesting to note that the largest holders of Bitcoin (BTC) have been taking the opportunity to increase their holdings while the prices remained relatively low. This has been observed in the activities of Bitcoin whales, or crypto wallets holding between 1,000 and 10,000 BTC, who have collectively amassed around 131,600 BTC (presently worth over $3.5 billion) in the last 11 weeks.
Large part of the above accumulation took place in the last week alone, when Bitcoin holders with 1,000 – 10,000 BTC added more than 60,000 BTC to their holdings, worth nearly $1.62 billion, as per the information shared by crypto trading expert Ali Martinez in a tweet published on June 20. This trend is quite significant, as these Bitcoin whales have brought back their collective accumulation supply levels to seven-week highs, soaring from around 4.51 million BTC in early April to close to the 4.65 million BTC at the time of publication. Interestingly, during this time, the price of Bitcoin slightly declined and remained relatively stagnant, as the chart suggests.
Source
/channel/DeFi_Ethereum
🇺🇸 Binance.US And SEC Reach Agreement On Access To US Customers’ Money
According to Coindesk, Binance, Binance.US and the Securities and Exchange Commission (SEC) have announced an agreement to ensure that only US-based employees can access customer funds. Under the proposed agreement, Binance.US will ensure that no employee of Binance Holdings (referring to Binance exchange) has access to the private keys for critical wallets, hardware wallets, or other access rights – administrative access to Binance.US Amazon Web Services tools.
Furthermore, the US crypto exchange platform will share details on business expenses, including cost estimates, in the coming weeks. This proposed settlement comes in response to the SEC’s proposal to freeze the assets of Binance.US while pursuing the exchange over securities-related allegations. The regulator said it was concerned that funds could be moved overseas or that records would be destroyed if a temporary containment order (TRO) was not issued. Lawyers for Binance.US protested, arguing that freezing all of their assets would be tantamount to a “death sentence.”. On Thursday, the two sides released a report saying the parties worked hard to reach an agreement.
Source
/channel/DeFi_Ethereum
Join now with just 1 Click All important Crypto Channels:
/channel/addlist/1H7No7OFbZE2YzVk
💰 Cardano Developer IOG Adopts New Venture Studio Model, June 12
Cardano developer Input Output Global (IOG) has recently undergone restructuring, transforming into a “venture studio” with a smaller core business model. As a result of this change, the company has laid off some of its employees. Charles Hoskinson, IOG and Cardano co-founder, explained that the restructuring has resulted in many spin-offs, such as a wallet division, Lace, and an identity framework called Prism, and Cardano-related infrastructures.
Although Hoskinson did not specify the number of employees affected by the restructuring, he did note that executive staff at the IOG level were mostly the ones affected. However, the company has hired CEOs for Midnight and RealFi and these new hires have recruited additional staff. Hoskinson also revealed his long-term vision for the company, stating that he expects to spin out an average of 3-5 companies per year. Under this new business model, the strategy and commercial aspects will not be monolithic, but will be delegated to the spinouts under the CEOs. This will enable IOG to focus on its core business while still exploring new ventures that will benefit the company and its clients in the long run.
Source
/channel/DeFi_Ethereum
📣 Scimitar Capital Confirms Liquidation Of All Altcoins, Suspects $2B Caused Market Dump
The decision to liquidate crypto holdings by Scimitar Capital, a crypto-exclusive trading firm, is rumored to be the reason for the widespread altcoin price drop on Saturday. While the Bitcoin price is down around 3% in the past 24 hours, the global crypto market value is now $1.04 trillion, down 5.74% in the last 24 hours. Among the top cryptocurrencies, Cardano (ADA) and Solana (SOL) lost the most value, with over 24% in the last 24h for each token.
The situation is that the altcoin drop will continue to linger. For ADA, SOL, and MATIC may be at least 3 more weeks due to the influence of the Robinhood crypto exchange’s delist announcement. For the rest of altcoins in the market, the SEC is a big threat as it is unknown which tokens will be the next target. In a new development, Scimitar Capital, a cryptocurrency trading platform, said it strategically decided to liquidate our crypto holdings. The crypto community believes this is most likely the reason behind the sudden and widespread drop in cryptocurrency prices. The company said in a statement.
Source
/channel/DeFi_Ethereum
🟠 Binance.US Updated New Delist List From More Than 100 Trading Pairs To 10
According to the official announcement, Binance.US issued a delisting update because of community feedback. The exchange will no longer delete any USDT advanced trading pairs, and all cryptocurrencies and USDT pairs can still be traded. Only some advanced trading pairs of BTC and BUSD are removed. Binance.US will delete the following advanced trading pairs of BTC and BUSD at 12 p.m. EDT on June 8: ATOM/BTC, BCH/BTC, DOT/BTC, LRC/BTC, MANA/BTC, UNI/BTC, VET/BTC, XTZ/BTC, HBAR/BUSD, and ONE/BUSD.
In addition, Binance.US will simplify buying, selling, and switching products and reduce the number of supported switching trading pairs to 226, and the maximum order amount has been updated to $10,000. The exchange has suspended its OTC trading portal services until further notice in the coming weeks and months. The move comes after pressure from the U.S. Securities and Exchange Commission (SEC) with exchanges Binance and Coinbase. With back-to-back enforcement proceedings against two of the most famous digital asset companies, Binance and Coinbase, the SEC ultimately established its legal case against the sector and set up future court confrontations that might determine everything.
Source
/channel/DeFi_Ethereum
🇺🇸 SEC Sues Crypto Exchange Binance, CEO Changpeng Zhao Over Multiple Securities Violation Allegations
The U.S. Securities and Exchange Commission sued crypto exchange Binance, the operating company for Binance.US and Binance founder and CEO Changpeng "CZ" Zhao on allegations of violating federal securities laws on Monday. Binance, Binance.US and CZ offered unregistered securities to the general public in the form of the BNB token and Binance-linked BUSD stablecoin, said the suit, which also alleges that Binance's staking service violated securities law.
The suit also alleged multiple times that Binance allowed U.S. persons (meaning U.S. citizens or people living in the U.S.) to trade on its platform, despite saying it wasn't. "As a second part of Zhao’s and Binance’s plan to shield themselves from U.S. regulation, they consistently claimed to the public that the Binance.com Platform did not serve U.S. persons, while simultaneously concealing their efforts to ensure that the most valuable U.S. customers continued trading on the platform," the suit said. "When the Binance.US Platform launched in 2019, Binance announced that it was implementing controls to block U.S. customers from the Binance.com Platform.
Source
/channel/DeFi_Ethereum
📣 Do Kwon Once Again Out Of Jail, Montenegro Court Accepts Over $400,000 Bail
According to the Financial Associated Press, the Court of Montenegro again granted bail from failed Terraform Labs crypto executive Do Kwon. On June 3, a primary court in Montenegro once again agreed to the bail request of Do Kwon, co-founder of Terraform Labs, and his associate Han Chang-joon. Although it is unclear why the case was overturned, the country’s prosecutors will have three days to appeal the ruling.
On May 12, the Basic Court in Montenegro agreed to a $436,000 bail for Terraform Labs co-founder and CEO Do Kwon and Terra CFO Han Chang- joon with the same condition. At the time, the court ordered that the men be placed under house arrest in Montenegro pending trial. However, two weeks later, the decision was revoked after prosecutors appealed the decision. It is known that when the judgment was revoked, the Court of Montenegro had not yet received bail from the two defendants. Kwon and Chang-joon have been charged with forging official documents after attempting to fly to Dubai from Podgorica in March with alleged fake Belgian and Costa Rican passports.
Source
/channel/DeFi_Ethereum
📣 Kraken Experiences 25% Surge In Canadian Customer Deposits Following Binance’s Exit
Kraken, a prominent cryptocurrency exchange, has witnessed a notable 25% increase in customer deposits from Canada since Binance announced its departure from the crypto industry in early May. The tightening of Canada’s regulatory framework for digital asset trading has led to the exodus of several major crypto exchanges, including Binance and OKX. In response, Kraken has emerged as a preferred alternative for Canadian cryptocurrency traders.
Data shared by Kraken reveals a significant surge in customer deposits from Canada following Binance’s decision to exit the crypto industry. Within the weeks following Binance’s announcement, Kraken observed a 25% increase in customer deposits, indicating a growing preference for their services among Canadian traders. Moreover, when OKX expressed its intention to depart in March, Kraken witnessed a fivefold increase in downloads of its mobile apps among Canadian customers during the subsequent week. This suggests that Canadian traders are actively seeking reliable alternatives in the wake of regulatory changes impacting the crypto exchange landscape.
Source
/channel/DeFi_Ethereum
📣 SPACE ID Launches New Function To Help Users Sell Domain Names At Custom Prices
SPACE ID, a decentralized domain name service protocol, announced a new feature, allowing sellers to sell domain names at their desired custom price instead of only according to the price offered by buyers in the past. SPACE ID is a blockchain-based decentralized global name service network (Ethereum, BSC, and Arbitrum). It also functions as a Web3 domain and identity management platform, allowing users to register, trade, and administer crypto-based domain names.
Web3 domains are human-readable names that may be used to access dApps, smart contracts, NFTs, and other blockchain-based services, such as pintu.eth and pintuacademy.eth on the Ethereum network. The Web3 domain name is a tradable non-tradeable. Users may generate, sell, and maintain SPACE IDs all in one spot. Users must utilize a separate marketplace to acquire and sell domain names than the Ethereum Name Service (ENS). SPACE ID includes Web3 names for Software Development Kit (SDK) and Application Programming Interface (API) for cross-blockchain developers in addition to people. Its goal is to make it easier to integrate web3 domains into diverse applications.
Source
/channel/DeFi_Ethereum
📣 Worldcoin and the Intellectual Decline of Venture Capital
Yesterday, the company behind the Sam Altman-fronted Worldcoin project announced it had raised $115 million dollars in venture capital. The raise looks like an atavistic last gasp for the kind of prestige-driven, slot-machine structured Silicon Valley fundraising fostered by a decade of cheap money. Because whether on ethical or financial grounds, there seems little rational explanation for supporting the project.
To review, Worldcoin’s pitch is essentially twofold. At its core is The Orb, a device that scans the retinas of users, so they can later confirm their identity online. The Worldcoin token, in turn, is intended to be distributed as a form of “universal basic income” (UBI) and is currently being offered as an incentive for early eyeball-scan volunteers. That makes it easy to deduce that the UBI element of the project is simply window dressing for its real goal: solving the problem of digital identity. But in fact, Worldcoin’s approach to that problem is equally terrible, presenting a dazzling array of privacy risks and moral entanglements. The company’s messaging goes to great lengths to depict both a charitable project and an opportunity for immense profits.
Source
/channel/DeFi_Ethereum
📣 Bithumb CEO Accused Of Taking $3.7B Bribe To List FANC And Manipulating Price
The CEO of Bithumb is suspected of taking a $3.7 million bribe to list the FANC token. CELEbe Korea, the issuer of the FANC coin, was searched. According to an exclusive report by Digital Asset, the prosecution recently arrested and searched CELEbe Korea, the issuer of the FANC coin, in connection with allegations that the CEO of Bithumb Holdings received a bribe of 5 billion won (about $3.7 million).
The prosecutor’s office confiscated and searched CELEbe Korea, the issuer of the FANC (Fancy) Coin, on the grounds that there was evidence. The media added, among South Korean crypto exchanges, only Bithumb listed the FANC token (online as of March 2023), and about 87% of the transactions are taking place on the platform. This cryptocurrency exchange. Besides, FANC’s price trend is suspected of market manipulation centered on May 25-26. According to the data, the trading volume more than doubled, and the price increased by about 6.6%. This range is not large in the crypto market but it is questionable due to the small volume of FANC trading.
Source
/channel/DeFi_Ethereum
Join now with just 1 Click All important Crypto Channels:
/channel/addlist/1H7No7OFbZE2YzVk
⬜️ Crypto Exchange OKX Targets France as Regional Hub With Plan to Hire 100 People
Cryptocurrency exchange OKX is targeting France as a regional hub in Europe with plans to hire around 100 people there in the next three years, looking to join 74 other companies that have so far won regulatory approval from the country's Financial Markets Authority (AMF). The Seychelles-based firm has filed an application to become registered as a Digital Asset Service Provider (DASP).
It's not the only crypto exchange seeking a base in the European Union's second-largest economy. France last year emerged as the destination of choice for Binance as a European Union (EU) hub following its DASP registration. The world's largest crypto exchange had hired around 150 people for its Paris office by September, according to founder Changpeng "CZ" Zhao. "We would aspire to hire 100 full-time employees within three years," Byun said in an interview. "I think in the first year, we forecast [hiring] about 30 colleagues." Byun said he expects the registration process to take up to six months.
Source
/channel/DeFi_Ethereum
📣 Hedge Fund Turkcorp To Launch Crypto Exchange Turkex In Turkey
Hedge fund Turkcorp announced that it would launch a new cryptocurrency exchange Turkex in Ankara, Turkey. In addition to offering crypto trading, the new exchange also supports real-time market data, charting tools, and multiple order execution methods. The crypto exchange will launch in the next few weeks, and early adopters can sign up early. Turkex’s debut comes as demand for cryptocurrency trading in the area grows and conventional investment channels.
Turkcorp’s expertise in finance and technology will be used to provide a trader-focused platform that helps them by providing strong liquidity, fair trade pricing, and minimal trading costs. The corporation has already committed considerable amounts to the new exchange’s development and marketing. To build a world-class trading experience, they have employed elite professionals that understand UI and UX. Turkey is also one of the nations that want to boost its economy using anti-inflationary methods such as cryptocurrency. According to GWI Research, Turkey saw the biggest rise in crypto ownership, with 27.1% from July-September 2021 to July-September 2022.
Source
/channel/DeFi_Ethereum