South Korea’s interest in the metaverse continues to grow rapidly, as highlighted in a new report on its market growth. The report provides valuable insights into the industry’s size, trends, and dynamics in the country, with investments from both government entities and private corporations. The government has demonstrated its commitment to emerging technologies, including metaverse,
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The play-to-earn (P2E) gaming industry has seen significant growth in recent years, with enthusiasts embracing the concept of earning cryptocurrencies or non-fungible tokens (NFTs) as rewards for completing in-game challenges. However, the P2E platform has been losing its structure due to the fall of in-game traction, which has impacted the value of native tokens such
Alex Mashinsky, founder of Celsius Network, has filed a motion to dismiss the civil lawsuit against him by New York State Attorney General Letitia James. The complaint accuses Mashinsky of defrauding investors by concealing the deteriorating financial state of the lending platform, leading to the company’s bankruptcy. James’ lawsuit seeks to prevent Mashinsky from operating
CoinMarketCap has partnered with Web3 entertainment company Hello Labs to create a new reality show called “Killer Whales.” The show is inspired by the popular series “Shark Tank” and aims to promote the entrepreneurial spirit of the Web3 domain to a wider audience. The Competition “Killer Whales” provides a platform for entrepreneurs to pitch their
Texas regulators have set their sights on an individual who is allegedly promoting two cryptocurrencies that aim to capitalize on Elon Musk’s artificial intelligence (AI) pursuits. The cryptocurrencies are named Elon Musk AI Token and TruthGPT Coin, which is named after Musk’s proposed ChatGPT competitor. The Texas State Securities Board (TSSB) has filed a cease-and-desist
During the previous bull cycle, the Crypto.com card offered members enticing benefits, such as substantial cashback and increased staking rewards for users locking CRO tokens up for a minimum of 180 days. However, after June 1, 2022, Crypto.com cut these benefits in response to deteriorating market conditions, such as halving cashback, capping monthly rewards, and
The cryptocurrency industry in the US is convinced that the country’s financial watchdogs are deliberately preventing it from flourishing, due to repeated regulatory failures. According to a report by the Intelligencer, both written and unwritten policies and rules are making it difficult or even impossible for crypto-related companies to operate in the US. The CEO
A Democratic presidential candidate has spoken out against the anti-crypto sentiment growing within his party. Environmental lawyer, Robert Kennedy Jr., has blamed regulatory agencies for the failure of several banks in March. Kennedy has opposed the bailout approach used by financial agencies and criticized the Federal Deposit Insurance Corporation (FDIC) and Securities and Exchange Commission
Iranian companies have been given permission to pay for imports using cryptocurrencies, the country’s Trade Promotion Organization (TPO) has confirmed. The head of the government body, Alireza Peymanpak, stated that the Central Bank of Iran (CBI) had authorized the use of digital coins for imported goods, with the final decision to be made by the
Sui’s mainnet has officially launched, and its native token is now trading on major exchanges such as Binance and Bybit. The token started trading for less than $2 and has already experienced a 72% decline in less than 30 minutes of trading, according to CoinMarketCap data. As of press time, the SUI token’s trading volume
As the popularity of NFTs rises, so does the risk of hacking and theft, making it essential to store them in a secure wallet. The SecuX Nifty NFT Hardware Wallet is the most secure way to store NFTs, providing users with complete control and ownership of their digital assets. SecuX is a blockchain security company
Kenya has announced that it will impose a 1.5% tax on all commissions earned by foreign crypto companies from their customers. The new regulations include all foreign crypto exchanges that earn interest from facilitating buying and selling transactions of digital assets in Kenya. This new tax service expands the existing 1.5% digital tax service that
Binance, a leading cryptocurrency exchange, believes that the key principles of a regulatory framework for crypto-assets should be geared towards consumer protection, market integrity, and financial stability. This was in response to the UK’s HM Treasury’s recent consultation on the regulation of crypto-assets. Binance emphasized the need for a balanced approach to regulation, ensuring that
The White House’s Council of Economic Advisors has raised concerns about the impact of crypto asset mining on the environment, stating that it leads to negative spillovers on the environment, quality of life, and electricity grids in the United States. In response to these concerns, the Biden administration is proposing the Digital Asset Mining Energy
As the impact of climate change continues to grow, people and companies are looking for ways to offset their carbon emissions. Ecoterra is a new cryptocurrency that offers a sustainable solution to support eco-friendly initiatives. With its token, ECOTERRA, this blockchain ecosystem encourages users to recycle and rewards them with digital carbon credits. According to
The Virtual Assets Regulatory Authority (VARA) in Dubai has issued a warning to the four founders of the OPNX Exchange and its CEO, Leslie Lamb. According to VARA, the exchange is unlicensed and unregulated, and therefore, the named individuals are breaking the law by operating and promoting it. The founders include Mark Lamb, Sudhu Arumugam,
Bitcoin (BTC) experienced a rebound on Wednesday, with all eyes on the Federal Reserve rate decision. After reaching a low of $27,935.73 on Tuesday, BTC/USD surged to an intraday high of $28,881.30. This came after bitcoin rejected a breakout below its long-term floor at $27,600 earlier in the week. Momentum has shifted slightly higher, with
Bitcoin’s price has been fluctuating between the 50-day moving average at $28,310 and the psychological resistance level of $30K. The direction of the upcoming rally heavily depends on whether Bitcoin breaks out of this range to the upside or downside. A breakout beyond the $30K region will significantly impact market sentiment, while a decline below
The Trust Wallet has been found to be a secure and reliable option for cryptocurrency users, according to recent research conducted by AX1. The researchers noted that the wallet uses strong encryption and multi-factor authentication to protect user data and prevent unauthorized access. Additionally, Trust Wallet has a track record of timely security updates and
Bitcoin has been on a bullish run since the beginning of the year, with crypto bulls predicting it could reach a new all-time high of $100,000 this year. However, a new player has entered the market in the form of AiDoge ($AI), an AI-powered meme coin that is tipped to offer a more lucrative alternative
Binance CEO Changpeng ‘CZ’ Zhao has announced that crypto entrepreneur Justin Sun will be prevented from farming Sui tokens with his $56.1 million deposit of True USD (TUSD) on the exchange. Sun’s deposit to Binance was made on May 1, leading many to speculate that he was attempting to farm SUI tokens through the LaunchPool
CoinShares, a European cryptocurrency investment firm, released its latest report on May 2, stating that the digital asset market has been experiencing bearish sentiment for the second consecutive week. This has resulted in outflows totaling $72 million, with crypto market funds experiencing outflows across all geographies and providers. The report mentioned that the bearish sentiment
Symmetry has launched its user interface on the Solana blockchain, which represents a groundbreaking step towards decentralized finance (DeFi). The platform aims to transform the way users manage their portfolios through crypto indices and actively managed funds, providing a comprehensive solution for creating, managing, buying, and selling funds. Symmetry’s Infrastructure Layer Symmetry’s infrastructure layer is
The U.S. Federal Reserve has raised its benchmark interest rate again, citing modest economic expansion in the first quarter of the year. While unemployment has remained low, inflation continues to be a concern for the central bank. In its press release, the Federal Open Market Committee (FOMC) emphasized the soundness and resilience of the U.S.
Recently, the Bitcoin community has been buzzing with excitement around the introduction of the BRC20 token standard. This new standard, introduced by a pseudonymous developer named Domo in March, leverages the Ordinals protocol, allowing creators to easily mint fungible crypto assets onchain. To create a BRC20 coin, individuals simply need to encode a JSON data
Druk Holding & Investments, the investment arm of the Royal Government of Bhutan, has joined forces with Bitdeer Technologies Group, a Nasdaq-listed company, to launch a $500 million fund that will support bitcoin mining activities in Bhutan. The country has been secretly producing BTC since 2017 using its vast amount of hydropower, and the government
Coinbase has announced the launch of its international exchange, which enables institutional traders outside the United States to trade Bitcoin (BTC) and Ethereum (ETH) perpetual futures. The trades for the new platform are settled in USD Coin (USDC) and do not require fiat on-ramps. The exchange also offers perpetual futures contracts with up to five