Hong Kong is preparing to introduce new regulations for virtual asset regulation. The Securities and Futures Commission (SFC) has released its conclusions from weeks of consultation on regulatory guidelines for cryptocurrency platforms. The new guidelines will come into force on June 1, and Hong Kong crypto exchanges will have to seek licenses under the Securities
yPredict is a new crypto trading and market intelligence platform that has been developed using state-of-the-art predictive models and data insights. It is also a first-of-its-kind, institutional-grade crypto price prediction system that is powered by yPredict’s in-house deep data analysis. This tool will help crypto investors discover the next explosive crypto with ease. The best
Cameron and Tyler Winklevoss, the founders of Gemini, are reportedly considering opening a second headquarters in the United Kingdom. The move comes as regulatory scrutiny increases in the United States. Several crypto exchanges have complained about the regulatory environment in the US, as regulators have doubled their enforcement actions against crypto firms in response to
The world of cryptocurrency has taken the financial industry by storm, with digital assets like Bitcoin, Ethereum, and Dogecoin surging to new heights. Futures contracts allow traders to speculate on the future price of a particular cryptocurrency, with the potential for profits if they correctly predict market movements. However, it is important to understand that
CEDEN Network Ltd, a Network-as-a-Service (NaaS) open-source infrastructure company, has acquired Galaxy Rendered Limited, a Web3 gaming innovator, for an undisclosed sum. The acquisition strengthens the foundation of the EDEN Content Creation Ecosystem with a wholly-owned subsidiary Web3 development studio and its debut metaverse game title, Rocket Monsters. The Acquisition The acquisition of Galaxy Rendered
UPbit, a South Korean exchange, announced that the Digital Asset Exchange Association (DAXA) has removed investment warnings on KAVA and WAVES and resumed deposits for these assets. DAXA had issued warnings about KAVA and WAVES in the past when stablecoins linked to them were discovered to be “not normally linked to 1 dollar”. At the
Bitcoin, the primary cryptocurrency, saw a reversal of its trajectory after slipping to $26,600 on Bitcoin pizza day, rising by almost $1000. Other altcoins like Ethereum (ETH), Polygon (MATIC), Shiba Inu (SHIB), Tron (TRX), and Avalanche (AVAX) also saw a slight increase, jumping by around 3% daily. Glassnode, an analytics resource, acknowledged that BTC had
Bitcoin NFTs have recently secured the second spot in the NFT sales per blockchain, proving their growing prominence in the market. This is a significant achievement since Bitcoin NFTs were almost non-existent until the emergence of Bitcoin Ordinals earlier this year. Over the past 30 days, Bitcoin NFTs recorded gross sales of $167 million, which
Upstream, a Web3 infrastructure company, is set to launch a comprehensive 24-week program called “My First DAO” to educate individuals interested in building decentralized autonomous organizations (DAOs). The program aims to cover topics such as governance structures, tokenomics, and compliance concepts, providing participants with the necessary tools for creating autonomous online communities. What sets this
ConsenSys, the blockchain firm behind MetaMask, recently issued a clarification that its self-custodial wallet does not collect taxes on crypto transactions. The company addressed rumors that had been circulating on social media, stating that the rumors were based on inaccurate information. The clarification comes after several users raised concerns over MetaMask withholding customers’ crypto assets
Web3 game development is revolutionizing the gaming industry by creating games that seamlessly interact with public blockchains. Blockchain-based game development platforms, such as Unity and Unreal Engine, are paving the way for developers to create engaging games with innovative features such as Non-Fungible Tokens (NFTs) and cryptocurrencies. In this article, we will explore the best
Hotbit, a cryptocurrency exchange based in Shanghai, has announced that it will cease all operations on May 22nd, citing the increasing complexity and regulation of centralized exchanges. The platform has urged its users to withdraw their remaining assets before June 21st. Reasons for Closure The team behind Hotbit believes that centralized exchanges are becoming increasingly
The South Korean crypto exchange Coinone has been embroiled in a listing scandal, which has led to the indictment of four individuals, according to The JoongAng newspaper on May 21. The indictment was brought against Coinone listing team leader Kim Mo and Coinone listing broker Hwang Mo, as well as two others who were not
Pascal Gauthier, the CEO of Ledger, recently addressed concerns over the new Recover program, which allows user wallet seeds to be shared and stored by three different parties. The crypto community raised concerns that shard holders could reveal user seeds or gain direct control of user wallets through this feature. Gauthier Addresses Concerns on What
Bitcoin has experienced losses recently after failing to overcome the $27,000 mark over the weekend. The asset slipped by almost $500 earlier today, charting a new multi-day low. This lack of substantial volatility has seen its market capitalization decline to $520 billion once again. Bitcoin tried twice last week to take down $27,500, but ultimately
Hotbit, a China-based cryptocurrency exchange, has announced that it will cease operations on June 21, 2022. The company has cited several challenges that have impacted the industry and its operating conditions as reasons for the decision. In a statement released on May 22, the exchange urged its users to withdraw their assets before the deadline.
The US Department of Justice (DOJ) has charged Bryan Lee, a Las Vegas resident, with conspiring to defraud investors in a $45 million cryptocurrency scam. Lee is accused of working with Neil Chandran and other parties to defraud over 10,000 investors through one of the companies controlled by Chandran. The DOJ alleges that Lee was
A Russian man named Mikhail Pavlovich Matveev has been charged by US authorities for his alleged involvement in multiple ransomware schemes that earned him and other attackers nearly $200 million, much of which came through cryptocurrencies. These ransomware attacks targeted hospitals, schools, and police departments, among others. Matveev was reportedly part of three different ransomware
ConsenSys, the owner of Ethereum wallet MetaMask, has clarified that it does not collect taxes from cryptocurrency users. The company made this statement in response to rumors circulating in the crypto community that MetaMask and ConsenSys’s terms of service indicated that certain parties were required to pay taxes, and that MetaMask could freeze user funds
Pudgy Penguin’s recent foray into the world of physical toys has taken Amazon by storm. The launch of their NFT-inspired toy collection has ignited speculations about a potential resurgence for the NFT market. Within the first two days of the launch, Pudgy Penguin’s toy collection garnered an astounding $500,000 in purchases, surpassing all expectations. More
Coinbase Cloud, the Web3 infrastructure unit of Coinbase, has announced that it will become a Chainlink (LINK) oracle node operator to enhance smart contract security. In a statement shared with CryptoSlate on May 18, Coinbase Cloud stated that Chainlink plays a significant role in providing real-world data for Web3 through decentralized Oracle networks. Since many
The Foundation for Art and Blockchain (FAB) has launched FAB DAO, a Decentralized Autonomous Organization that aims to merge art and technology in the Web 3 space through blockchain technology. The new collector platform seeks to expand the reach and potential of FAB’s mission. Additionally, it will leverage blockchain technology’s power to democratize art patronage,
Bankrupt cryptocurrency firms FTX, FTX.US, and Alameda Research have filed a lawsuit against their former executives, Sam Bankman-Fried (SBF), Nishad Singh, and Gary Wang. The lawsuit, filed in the United States Bankruptcy Court for the District of Delaware, seeks to recover the funds spent on the acquisition of stock clearing firm Embed Financial Technologies. The
A Nevada man has been charged by the U.S. Department of Justice (DOJ) for his role in a cryptocurrency scheme called CoinDeal. Bryan Lee, the Nevada resident, was charged for his involvement in defrauding investors through CoinDeal leader Neil Chandran’s companies. The Scheme The DOJ alleges that Lee conspired with Chandran to defraud investors. Lee
Futureverse is an advanced blockchain network that combines multiple technologies to create a robust foundation for metaverse applications, prioritizing user safety and experience. It is not just another blockchain network, but a vision conceived by Aaron McDonald, Shara Senderoff, and Marco Brondani. The primary goal of Futureverse is to build a strong community network that
On May 19, the US Treasury and the Office of Foreign Assets Control (OFAC) imposed sanctions on several entities that have ties to Russia. One of the firms that have been sanctioned is Huriya Private FZ LLE, a UAE-based company that has been accused of money laundering and procuring passports for Russian actors since Russia’s
Sotheby’s, one of the world’s oldest and largest auction houses, announced on Friday the auction of seven NFTs that belonged to the bankrupt cryptocurrency hedge fund, Three Arrows Capital (3AC). The auction saw the collection of digital art pieces being sold for an impressive sum of approximately $2.5 million. This significant event was a testament