Category: Crypto Trends

Bitcoins, Ether and stablecoins have been lying low recently, but the reverberations of a scandal are still being felt in the crypto world. This past November, a humbling saga of widespread fraud and money mismanagement unfolded. Following the collapse of crypto trading platform FTX, the U.S. Department of Justice has charged its CEO, Sam Bankman-Fried (SBF), with misusing upwards of a million dollars of customers’ funds.

The fruits of discontent given the misdeeds of SBF have extended beyond the crypto markets and seeped into the politics surrounding them. As one of the largest and most powerful figures in the crypto world, SBF’s misdeeds have had dramatic implications on government attitudes toward the wider industry. Over $74 million in political donations from FTX and its associates have led to massive efforts of retribution from U.S. lawmakers. Allowing such a leader to commit several crimes and then walk away without punishment was simply not an option, and it has angered many politicians and officials. This brings us back to the recent enforcement actions; if the goal of the new regulations is to punish SBF, then the mission is accomplished.

Indeed, in a recent Money Reimagined column from CoinDesk, Chief Content Officer Michael Casey argued that the recent backlash against the crypto industry stemmed from the SBF’s alleged misdeeds. As part of the investigations and additional tracking, Congress had blurred the lines between responsibility and responsibility, creating a mess that the Biden administration had to clean up. They’ve decided to send a message to the crypto markets by raising the penalty for SBF and those around them, and in doing so, they’ve shown that they are determined to protect participants and customers of the crypto world.

As the future of global crypto leadership develops, regulations may be tightened and enforcement could become more aggressive. This represents a vital step in creating a safe and reliable trading atmosphere and restoring trust in the markets. As SBF’s spectacular fall from grace continues to shake the crypto world, the time for revenge and change has arrived. What we can expect from lawmakers and regulators is that if a certain individual or institution has misappropriated funds and made risky investments without proper risk assessment, they will pay for the consequences.

This incident reminds us once again of the importance of having clear, inviolable rules of governance, whether that’s within democratic institutions or in consensus mechanisms used by open-source communities, like those in blockchain protocols. The FTX scandal is also a reminder not to underestimate the emotions that can drive decision-making like anger and embarrassment can be a motivator more powerful than a simple desire to protect customers. Regardless, the industry will continue to innovate, and crypto will keep moving toward widespread adoption in the years to come.

With Donald Trump’s expected indictment looming closer, investors have flocked to his digital trading cards in droves, leading to a surge in prices and even spawning a knockoff of the originals. Trump’s public downfall has been documented through a burgeoning collection of NFTs – Non-Fungible Tokens – meant to capture the mood and reactions of this unprecedented event.

On March 15th, the Manhattan District Attorney’s Office issued an indictment against former president Trump, the first U.S. President ever to face criminal charges. Following the news, both Trump’s official installment of digital trading cards, Trump Digital Trading Cards, and the unauthorized take, Trump Criminal Digital Cards, saw a dramatic spike in sales.

Trump Digital Trading Cards saw 35 ETH or $64,00 worth of sales within the past day, according to data from NFT Price Floor, with the cheapest one listed at $937. The NFTs had an initial mint of $99 apiece and are up over 1000% in the secondary market. Trump’s legitimate collection also has a current market capitalization of $42 million.

In comparison, Trump Criminal Trading Cards have a lower floor price and far less volume. With a total estimated market cap of 12 ETH or less than $23,000, according to Nansen, they have seen a 3600% spike in their trading volume. The current floor price stands at 0.017 ETH or $31.

This alternative take on Trump’s trading cards features the former president in various jail cells and wearing different types of prison garb – including a metal ball and chain on one of the rarer NFTs. They capture the public’s current mood and overall sentiment surrounding Trump’s indictment and arrest.

In addition to the digital trading cards, Trump’s legal saga is documented through a “Polymarket” contract, which puts the chance of him being indicted and arrested in the month of March at 68%. Investors are also predicting if Trump will tweet or smile in his mugshot.

Whether you want to purchase Trump Digital Trading Cards for their monetary value or the Trump Criminal Digital Collection for the gritty representation of his possible imprisonment, these NFTs will provide an ongoing visual timeline of one of the most historic legal cases in United States history. It only takes a few clicks to collect these digital criminal cards and own a piece of history – so make sure to hit the buy button before they’re gone!

In a move that could secure its long-term sustainability and help pave the way for wider non-fungible token (NFT) adoption, leading NFT attendance badge service Proof of Attendance Protocol (POAP) announced Tuesday that it will begin charging commercial clients for access to its services. The news, an abrupt departure from the company’s years-long policy of offering free POAP minting to all users, sent ripple effects across the Web3 space, sparking widespread debate as to the implications of limiting free access to the technology.

POAP, a Ethereum-based app, helps event organizers give out attendance badges in the form of NFTs, which can be used to prove attendance at physical or virtual events. Starting April 17, companies and individuals who distribute POAPs at commercial events may be subject to charges based on the number of POAPs issued. According to Isabel Gonzalez, POAP’s co-founder, prices for commercial clients will likely converge around $1 per POAP issued. Special pricing, however, will be available for current commercial users at one quarter of that cost.

Not all commercial customers will be charged for their use of POAPs, though. Certain ventures may continue to be subsidized by the company on a case-by-case basis if they further POAP’s artistic and creative mandate. “We like people creating true precious digital collectibles more than we care that they pay,” Gonzalez told Decrypt. “The efforts that go into good storytelling are worth their own weight in gold.”

The move does present some difficulty in distinguishing personal events from commercial ones. For instance, a wedding with under 200 attendees could be perceived either way. POAP has released guidelines to help interpret the differentiating factors between the two, such as whether “an emotional connection” exists between a POAP issuer and collector, or whether a large number of POAPs are issued (especially in an automated fashion).

Gonzalez hopes the new pricing model will encourage its users to consider the best applications of its services while also solidifying POAP’s staying power. “We believe this evolution will expand the range of possibilities for how POAP can be used sustainably, in part by giving issuers tools to align their plans with POAP’s mission of creating precious digital collectibles,” she said.

It remains to be seen how stakeholders will react to the news of POAP’s new commercial pricing model. Despite early pushback, Aptos Labs’ co-founder Mo Shaikh pointed to the value of tokenizing communities across the world and using NFTs to expand into the mainstream via big brands and as a form of payment. As organizations and communities grow increasingly reliant on digital and automated technologies, the value of web3 services like POAP can help them unlock new opportunities, experiences, access, and rewards. Through Community Tokenization and its own utility token, Bulls & Apes Project is taking this mission to heart, investing heavily in the technology and gamification design to provide an own-to-earn model that rewards holders simply for engaging with them.

Sustainable and ethical operations will remain central to the successful adoptions of NFTs and all web3 services. With its new pricing model, POAP can work towards greater financial security and wider use of its service, while also encouraging its users to experience and create true digital collectibles. By combining a passionate, dedicated community, engaged users, and responsible teams, the web3 world can enter a new era of growth, stability, and value creation.

The future of digital identity is now as we enter the dawn of a new age with the integration of Masa Finance’s soulbound tokens into Coinbase’s Base network. As described in Masa’s April 4 announcement, the new tokens allow users to link identifying and reputational characteristics to their wallet addresses, allowing them to benefit from transactional-based credit underwriting through the implementation of blockchain technologies. (Valium) Masa had previously released its Soulbound Token protocol for the Ethereum and Celer networks, but its integration with Coinbase embodies a whole new era of possibilities for Web3 users.

Coinbase is the largest centralized crypto exchange in North America, launching its Base Network testnet in Feb. 23, aiming to implement it as an optimistic rollup layer 2 for Ethereum. Traditional credit scores for the crypto industry had been stagnant for a while, until now.

Masa’s soulbound protocol can be used for a multitude of applications, such as human-readable domain names, membership badges, loyalty programs, achievement badges, and offering users the ability to prove their identity when participating in services and games, thus eliminating spam and bots.

To make the protocol readily available to users, Masa is set to release its Base SBT Developer Toolkit, an easy to use bundle which contains a quickstart guide, Masa command line interface, software development kit, REACT developer tools, and examples of how to build applications using the Masa soulbound tokens.

The protocol allows for standardized soulbound tokens to be minted for Know Your Customer (KYC) verifications, credit scores, and other use cases. Unlike ENS names, SBTs added benefit of being able to link to various Masa identity characteristics.

The concept of SBTs are attached to a user who, through the protocol, can represent their credit score and a “.soul” domain name for the Web3 space. Over 10,000 data points are taken into account in a Masa credit score, including a user’s FICO score, Plaid transaction data for credit and debit cards, Web3 wallet transaction history, centralized exchange balances, and other data.

All of these points, along with the risk-based underwriting factor, make Masa’s soulbound tokens a revolutionary step forward in the world of digital finance.

The SBT protocol also has a third use case called “Masa Green”, a feature set to be released soon which allows users to mint a Masa Green token to prove their identity– thus allowing them to take part in play-to-earn games and other applications without the worry of bots ruining the experience.

Masa is currently the first soulbound token protocol available on the Ethereum network, but Binance has released its own version, called BAB, which can be used to verify a users identity.

The European Union (EU) recently suggested using zero-knowledge proofs for digital IDs, and the Japanese financial firm Sumitomo Mitsui is looking into SBTs for social reasons. All of this, compounded by the metaverse’s keenness for digital identity solutions, set to be provided by Masa’s soulbound tokens, leads us all to the inescapable conclusion that, with the help of Coinbase’s Base Network, we are now on the path towards total onboarding.

It’s been an exciting month in the world of cryptocurrencies and digital gold assets, as both Bitcoin and gold have surged to record highs. Tokenized gold assets have now surpassed $1 billion in market capitalization and the correlation between Bitcoin and gold has hit its highest point in over a year.

The rise in gold and Bitcoin’s collective value come as banks face turmoil and investors search for a safe haven asset to put their money in. While investors traditionally flock to gold during times of economic uncertainty, the emergence of cryptocurrencies has opened up new opportunities to gain exposure to the precious metal.

In lieu of traditional exchange-traded funds (ETFs) or storing gold bullion physically, investors are now turning to tokenized gold assets like pax gold (PAXG) and tether gold (XAUT) to gain exposure to gold without the high management fees. PAXG and XAUT boast a combined market capitalization of $517 million and $499 million respectively and have helped to push the value of tokenized gold assets over the $1 billion mark.

At the same time, Bitcoin has rallied to nearly $30,000 per coin as its correlation to gold reaches an all-time high. According to data by blockchain analytics firm Kaiko, the correlation between the two assets stands at roughly 50%. To put this into perspective, Bitcoin behaved more like the world’s most historic currencies in March, while its correlation to the stock market dropped to 20%, thus highlighting its potential to become a safe haven asset.

Former Coinbase CTO Balaji Srinivasan has gone as far as to stake 2 million dollars on the price of Bitcoin reaching $1 million due to the hyperinflation caused by the worsening banking sector. However, this prediction is doubtful, as even Saifedean Ammous, author of ‘The Bitcoin Standard’, doubts it will manifest.

On the cultural front, rapper Snoop Dogg stepped into the Wrestling Ring at WrestleMania 39 and was seen sporting a golden hardware wallet like a luxurious chain, indicating a growing crossover between gold and Bitcoin in public consciousness.

It is clear that gold and Bitcoin have re-aligned in the past month, largely due to the uncertainties plaguing the banking sector. Investors now have the option to gain exposure to gold without the burden of management fees or physical storage, while simultaneously taking advantage of the benefits of digitization offered by cryptocurrencies. Surely, Bitcoin’s potential as a safe haven asset will be tested in the near future and it would not be a surprise to see the correlation between gold and Bitcoin remain strong.

Cryptocurrency regulations are a hot-button topic throughout the world, with the United States taking a hardline stance on companies toiling in the space. This means companies like Coinbase and Kraken have come into the crosshairs of the Securities and Exchange Commission (SEC) with fines and cease-and-desist orders.

As a result, Shark Tank investor Kevin O’Leary is advocating for companies to work with regulation, not against it. O’Leary, who is a venture capitalist and strategic investor in Canadian crypto exchange WonderFi, recently made his stance clear.
“Litigating your regulator, in my opinion, is a really stupid idea,” he said. “You’ve got to read the room,” he added. “You have to read the writing on the wall.”

So, if the crypto space wants to fit into the current global financial services system, compliance is necessary. While Coinbase has bravely decided to push back on the SEC’s claims, O’Leary warns that it’ll prove to not be worth it in the long run.

To stay within the good graces of regulators, one of O’Leary’s advice is for companies to move their assets to Canada, citing that the country is already forging ahead with regulations that are effectively working. Perhaps this could pave the way for Canada becoming a new mecca of digital asset trading?

Because of its current moves, it’s not a surprise that Venture capital money is fleeing crypto as regulators tighten their noose around the industry in a post-FTX crackdown, according to Shark Tank star Kevin O’Leary.
The investor claimed on Monday that VC funding is now headed toward artificial intelligence.

But while O’Leary is now fully on board with regulations, this hasn’t always been the case. The Shark Tank investor previously threw shade at decentralized players in the industry and compared them to “crypto cowboys” that “mess with the primal forces of regulation.”
Not surprisingly, he suggested Dutch authorities should have arrested the creator of Ethereum-based crypto mixer Tornado Cash, Alexey Pertsev, for the same reason.

To move the industry forward, though, O’Leary believes that “necessary mergers” are needed for scaling, due to the hefty compliance cost associated with the industry.

O’Leary’s venture owns a Canadian crypto exchange called WonderFi, which plans to merge with Coinsquare and CoinSmart, two other Canadian crypto exchanges, to combine 1.65 million users and over $600 million in assets under custody.
According to O’Leary, this wouldn’t be possible without scaling — which is only achievable through merging — and would make it one of the largest regulated crypto trading platforms in the world.

So, is Canada the guinea pig of regulated crypto platforms?
It’s definitely a possibility. What’s clear is that O’Leary’s stance on regulation is setting a precedent for others to follow and allowing the industry to become part of the existing global financial services system.
Whether or not it’s for the better remains to be seen, but it’s a paradigm shift in the cryptocurrency world and should be monitored closely.

March was an incredible month of drama in the cryptocurrency market, as news broke of wrongdoers siphoning over $211 million worth of digital assets in just one month alone. The biggest theft by far was the Euler Finance exploit that made headlines worldwide. This hack resulted in almost $200 million worth of digital assets being stolen, accounting for over 93% of the total stash.

The hacker behind the exploit, referred to only as Jacob, used a flash loan attack to exploit the decentralized finance (DeFi) platform. Initially, the entity behind the project offered Jacob to keep 10 percent of the loot if they returned the remaining funds, but after the deadline passed, the protocol publicly announced a $1 million reward for information leading to the hacker’s arrest and the return of all funds.

Despite the reward, Jacob seemed determined to keep the funds. On March 16, the hacker transferred 1,000 Ether – worth around $1.8 million at the time – to the crypto mixer Tornado Cash. However, they soon had a change of heart, sending back over $100 million worth of ETH to the protocol and apologizing for their crime.

Jacob’s move comes as blockchain Security Company, PeckShield, recognized 26 different cryptourrency exploits that occurred in March – costing investors $211.5 million. Decentralized Finance project SafeMoon came in second with $8.7 million in losses, while $5.2 million departed from ParaSpace. Also hit were General Bytes ATM ($1.7 million), Tender.fi ($1.58 million), and Swerve Finance ($1.3 million).

The involvement of North Korean state-sponsored Lazarus hacking group in the Euler Finance attack can’t be ruled out either, according to blockchain analysis firm Chainalysis. The firm reported that some of the ETH stolen was sent to a wallet linked to the Axie Infinity Ronin bridge hack, which Lazarus is believed to have conducted.

Well, whatever the case may be, it’s clear that Jacob’s exploits stole over $200 million in the biggest DeFi heist story of the year. It will be interesting to see if Jacob takes the on-chain ultimatum seriously and returns the remaining funds, but, until then, it looks like investors have to wait and see.

From the 2022 FIFA World Cup triumph of Argentina to the ongoing partnership between FIFA and the crypto world, the soccer industry is unlocking the digital door to an exciting new world of gaming and fan engagement. And the latest addition to the scene is FIFA’s World Cup AI League (WCAL), a 4v4 soccer strategy game with AI-powered characters and exciting NFT (non-fungible token) surprises.

Clocking in at over 40 million downloads since its launch back in November 2021, the recently released open beta of WCAL has set a new standard for casual gamers wanting to explore the world of Web3 gaming and the metaverse. Developed by the Web3 AI firm Altered State Machine, this free-to-play mobile game brings the cartoonish, brightly-colored creatures of your childhood Pixar movies and the popular Fall Guys series to life.

The mission of WCAL is to lead gamers into the AI-driven world of the metaverse. All the game’s characters are AI-controlled, each with their own unique strengths and weaknesses. Your job is to act as team coach and owner and manage your team’s performance using tactics and ultimate skill. Currently, four international locales by the names of Paris, Rio de Janeiro, Yaoundé, and Seoul have been designed into the game’s maps, with new locations set to be added in the future.

As per Altered State Machine co-founder Aaron McDonald, the beauty of WCAL is that “[it provides] football fans around the globe to interact with their favorite sport.”

But this game is more than just soccer. An Altered State representative recently confirmed that an NFT marketplace for the game is in the works and set for launch in the near future. The characters first created for the game will be minted into NFTs and all future characters will be represented via the same tokens. Several in-game cosmetic elements can be purchased using the game’s in-game currency, although cryptocurrency is prohibited due to Apple and Google restrictions.

By choosing to release WCAL in a traditional Web2 setting before adding the NFT and crypto elements, FIFA is catering to the gamers who expose a certain level of skepticism when it comes to Web3 games. This move follows a growing trend among game developers in recent months, as more and more teams choose to align with the notion of a frictionless user experience that isn’t overly focused on or distracted by the NFT elements.

That being said, this isn’t the first blockchain-based World Cup move made by FIFA. In addition to partnering with Web3 game studios for World Cup-themed integrations, the international governing body of soccer had also enlisted an official crypto sponsor for the 2022 FIFA World Cup, launched an NFT platform, and collaborated with Upland for a licensing agreement on its official metaverse platform. And with the recent $21 million seed funding raised by Matchday—soccer-centric Web3 gaming startup backed by Lionel Messi’s venture capital firm—Web3 gaming’s presence in the soccer scene is expected to keep growing.

Right now, FIFA World Cup AI League is providing a unique opportunity for soccer fans and casual gamers alike to immerse themselves in the AI-driven metaverse that’s slowly but steadily capturing the global soccer industry. And with rumors of launch-exclusive surprises and NFT-backed rewards, there’s no better time than now to join in the game and unlock the magic.

The future of finance is here—tokenization of public company shares is now a reality! On Apr. 3, INX, a leading tokenization platform, launched its first security token issued by a public company, marking a revolutionary moment for the world of traditional finance. The token represents shares of Greenbriar Capital, a public U. (cashcofinancial.com) S. over-the-counter (OTC) and Toronto Stock Exchange-listed company that develops entry-level housing and green energy products.

The launch of tokenized public company shares on a public blockchain network signals a turning point in the world of tokens and financial services. Companies have often tried to avoid having their tokens classified as securities, since this designation requires certain rules, guidelines, and disclosures to government bodies like the Securities and Exchange Commission. Tokenization of securities, though, is set to bring greater transparency, efficiency, and accessibility to the traditional financial industry.

At the same time, government bodies are taking strong steps towards the promotion of tokenized asset and securities trading. In Hong Kong, the government issued 800 million Hong Kong dollars (roughly $100 million) in tokenized green bonds under its Green Bond Programme in February. The bonds were underwritten by four banks and priced at a yield of 4.05%, marking a successful issuance of tokenized securities.

In addition to the public sector, private banks are beginning to get involved in tokenization as well. Cité Gestion, an independent Swiss private bank founded in 2009, is partnering with digital asset firm Taurus to issue its tokenized shares. Moreover, investment management firm Hamilton Lane (HLNE) is tokenizing three of its funds in a partnership with digital asset securities company Securitize.

INX, which launched its first security token issued by a public company, currently charges a $25 commission for each token purchased to cover Ethereum gas fees. According to the platform’s help files, INX security tokens exist on the Ethereum network and conform to the ERC-1404 restricted token standard. INX also offers traditional cryptocurrencies such as Bitcoin (BTC), Ether (ETH), Zcash (ZEC), and others.

The possibilities made available by tokenization of securities have the power to revolutionize the traditional banking industry. As governments and private enterprises adopt tokenized settlement processes, the world is rapidly transitioning to a future of financial inclusion, which will bring accessible and transparent services to those previously excluded from traditional finance.

So, take a step forward and join the world of asset and securities tokenization now! Investing in tokenized public company shares from the comfort of your home is possible with INX, unlocking a new level of accessibility and convenience. Don’t miss out on the future of finance – act now and open a window to the new world of trading!

Have you heard the new buzzword in the crypto space? NFTs, or non-fungible tokens, are becoming a rapidly growing asset in the crypto-market, sparking the interest of not only seasoned pros but average people as well. It can be hard to keep up with all the latest developments, so let’s take a deep dive into this booming trend and explore it from multiple angles and from the ground up.

2020 was a landmark year for the NFT market, and it only has continued to expand. In March of 2021, the NFT market saw an impressive 900K Ethereum traded in a staggering 2 million sales across 601K users. Most of the volume occurred on Blur, a trading platform built on the Ethereum blockchain, with 69%, while OpenSea, LooksRare and x2Y2 trailed slightly behind with 20%, 3% and 2.5%, respectively.

The Blur platform had the highest rate of sales per user, with an average of 4.9 sales per user, more than double of OpenSea’s 2.4 sales per user. Blur also saw higher volume per sale ratios, with 0.74 ETH per sale compared to OpenSea’s 0.23 ETH per sale.

Polygon has been playing a major role in this boom, having seen a massive surge in user adoption as a result of partnerships with brands like Reddit. In March of 2021, Polygon announced the migration of y00ts, a generative art project of 15K NFTs, to their network. 12,207 of them were bridged to Polygon, and 10,020 of them were quickly staked- a huge 82%. It has since seen $3.3M in secondary sales, coming from a total of 751 distinct sales, averaging $4,455 per sale.

Lens Protocol, the decentralized social graph built on the Polygon blockchain, also saw a jump in its user monthly engagements, surpassing 3M total monthly engagements (posts, comments, and mirrors) in March of 2021. As its popularity grew, the platform hit an important milestone with over 100,000 profile owners, with each user engaging an average of 45 times per month. The team also added a new Token Gated Publication feature which lets users token-gate their own content.

Lastly, Reddit created new Polygon-based NFTs to promote awareness about endangered animals, leading to a total of 156,500 “Endangered Animals” Reddit NFTs being minted, with an average of 14K avatars per day.

The Bitcoin-based NFTs, or Ordinals, are also seeing high amounts of inscriptions, with over 150 Bitcoin paid in network fees to mint new Bitcoin NFTs. To date, there have been over 714K Bitcoin NFT inscriptions.

What is clear is that the NFT market shows no signs of slowing down. This can be attributed both to the ongoing crypto winter, and first-time and returning buyers peaking during the last month of the year, as well as the work of Polygon Studios CEO Ryan Wyatt in making NFTs seem more than just speculation.

If you want to stay informed about all the latest developments from the NFT market, be sure to check out our On-Chain NFTs section where you can get your NFT insights first. This is the perfect opportunity to hop onto the NFT train and get a good look at what this Boom is turning into. (www.curlygirldesign.com)