Herake Casino is a newer casino which accepts crypto payments with an impressive and feature-packed platform.

This fresh and innovative casino hits all the right notes by providing a large selection of games, exciting bonuses and promotions, secure payment options including cryptocurrencies, and more.

Whether you are a slots enthusiast, a table games shark, a sports bettor, or an esports fan, Herake Casino promises endless entertainment tailored perfectly to your preferences. Let’s dive in and explore all the standout features that make this casino truly exceptional.

Visit Herake Casino

Quick Verdict: Herake Casino is an online gaming hub boasting over 7,000 games, dedicated sportsbook and esports platforms, featuring generous bonuses up to €900, crypto payment and a rewarding loyalty program.

Quick Facts

Category Information Games Over 7,000 games including slots, table games, live casino, sportsbook, and esports Bonuses Generous welcome package up to €900 bonus + crypto bonus up to 110% Payment Options Credit cards, e-wallets, bank transfer, and cryptocurrencies like Bitcoin, Ethereum, Dogecoin Mobile Compatibility Fully mobile optimized website for seamless gaming on the go Customer Support 24/7 live chat and email support available in multiple languages Security Licensed by Curacao eGaming, SSL encryption, KYC procedures User Experience Modern design, easy navigation, instant withdrawals Extra Features Live streaming, bet builders, tournaments, loyalty program

Casino Games

Slots

The slots section is a true wonderland with over 7,000 titles from top providers like NetEnt, Microgaming, and Play’n GO.

You’ll find all the latest releases as well as timeless classics, each bursting with dazzling graphics, innovative features, and lucrative jackpots. Whether you prefer action-packed adventures, classic fruit machines, or mythological odysseys, Herake’s slots have something for every taste.

Slots

Table Games

For those who appreciate the thrill of traditional casino games, Herake’s table games selection is second to none.

Immerse yourself in classic experiences like blackjack, roulette, baccarat, and more, with both virtual and live dealer variants. The live casino games, powered by Evolution Gaming, recreate the authentic ambiance of a land-based casino with professional dealers and stunning visuals.

Table Games

Virtual Games

In addition to slots and table games, Herake offers a diverse array of virtual games that combine skill, strategy, and entertainment.

From scratch cards and keno to virtual sports and fantasy games, this category promises endless excitement and variety. These games are perfect for those seeking a quick dose of adrenaline or a break from the traditional casino fare.

Virtual Games

Poker

Poker enthusiasts will feel right at home at Herake Casino. The poker room features multiple variations, including Texas Hold’em, Omaha, and Seven Card Stud, catering to both casual players and seasoned pros.

Join cash games or participate in exciting tournaments with generous prize pools. The user-friendly interface and realistic gameplay make Herake’s poker experience truly immersive.

Poker

Sports Betting

Herake Casino goes beyond traditional casino games by offering an outstanding sportsbook experience that caters to sports enthusiasts of all kinds. With a diverse range of sports and betting markets, Herake ensures that every bettor finds their perfect match.

The sportsbook covers all major sports, including football, basketball, tennis, and more, with a vast selection of leagues and tournaments from around the globe. Whether you’re a fan of the Premier League, NBA, or Grand Slams, you’ll find ample opportunities to put your knowledge to the test and potentially reap rewarding payouts.

Sports Betting

What sets Herake’s sportsbook apart is the incredible depth of betting markets offered for each event. From classic moneyline and spread bets to intricate player props and same-game parlays, the options are virtually endless. This level of variety ensures that even the most discerning bettors can find their preferred wagers.

The sportsbook also shines when it comes to live betting, allowing you to place wagers as the action unfolds. With real-time updates and constantly shifting odds, live betting adds an extra layer of excitement and strategy to your sports wagering experience.

Other Products

Live Casino

Herake Casino’s live casino section is a true masterpiece, offering an unparalleled selection of games that cater to every player’s preference. From the classic thrills of blackjack and roulette to the exhilarating game show experiences, this virtual live casino leaves no stone unturned in delivering an authentic and captivating gaming experience.

At the heart of the live casino lies a comprehensive array of blackjack variants, each with its own unique twist.

Whether you’re a fan of the traditional seven-seat table or prefer the electrifying atmosphere of Infinite Blackjack, where an unlimited number of players can join the action, Herake has you covered.

Explore options like Vegas Downtown Blackjack, featuring a lively Las Vegas ambiance, or indulge in the sophistication of VIP tables for high-stakes action.

Live Casino

The roulette enthusiasts are in for a treat as well, with an impressive lineup of variants that include European, American, and French roulette. Immerse yourself in the mesmerizing spin of the wheel and the anticipation of where the ball will land.

For those seeking an extra level of excitement, games like Lightning Roulette and Double Ball Roulette add unique twists to the classic gameplay.

Baccarat aficionados will find their sanctuary in Herake’s live baccarat rooms, where skilled dealers oversee the action with utmost professionalism. From the traditional Baccarat Squeeze to the fast-paced Speed Baccarat, there’s a variant to suit every playing style and preference.

Welcome Bonuses

Herake Casino rolls out the red carpet with an incredible welcome bonus package for new players. The centerpiece is a 100% match bonus up to €250 on your first deposit, doubling your bankroll right off the bat.

Crypto enthusiasts can revel in a special 110% match bonus up to €250 on their first crypto deposit.

Welcome Bonuses

But the generosity doesn’t stop there! Herake extends lucrative match bonuses on your second (120% up to €250) and third (140% up to €400) deposits as well. This flexible package caters to all players, seasoned or new, with reasonable wagering requirements.

With up to €900 in bonus funds available, Herake Casino ensures an extraordinary welcome, demonstrating its commitment to an unparalleled gaming adventure from day one. Get ready for excitement, adventure, and potentially massive wins!

How to Signup

Go to Herake.com and click the “Join Now” button.

Fill out the registration form with your personal details like name, date of birth, email address, and choose a username and password.

Select your preferred currency for playing – options include fiat currencies like EUR as well as cryptocurrencies like BTC, ETH, DOGE, and more.

Check the box to confirm you are at least 18 years old and agree to the site’s terms and conditions.

Click “Register” to complete the sign-up process.

That’s it! Your account is now ready to use.

How to Signup

After signing up, you can log in, make your first deposit using any of the available payment methods, and claim the generous welcome bonus package. You may need to verify your account later by providing documentation for withdrawal purposes.

Herake Casino prides itself on a fast, hassle-free registration process suitable for all players. No lengthy personal details or document uploads are required upfront.

However, it’s important to note that while anonymous gameplay is allowed initially, identity verification via the standard Know Your Customer (KYC) process is mandatory at licensed online casinos like Herake.

You will eventually need to provide identification documents to access all features and cash out potential winnings.

Payment Methods

Herake Casino offers a wide range of convenient and secure payment methods to cater to the diverse preferences of its global player base. Whether you prefer traditional banking options or the cutting-edge world of cryptocurrencies, Herake Casino has you covered.

Deposit Options

Credit/Debit Cards (Visa, Mastercard)

Bank Transfer

E-wallets (Skrill, Neteller)

Cryptocurrencies (Bitcoin, Ethereum, Litecoin, Dogecoin, Tether)

With a variety of deposit methods available, funding your account at Herake Casino is a breeze. Credit and debit cards, such as Visa and Mastercard, provide a familiar and straightforward option for those accustomed to traditional banking.

Bank transfers offer a secure and reliable way to move funds, while e-wallets like Skrill and Neteller provide an added layer of anonymity and convenience.

For those who prefer the cutting-edge world of digital currencies, Herake Casino embraces cryptocurrencies with open arms.

Players can make deposits using popular options like Bitcoin, Ethereum, Litecoin, Dogecoin, and Tether, ensuring fast and secure transactions with enhanced privacy.

Deposit Options

Withdrawal Options

Credit/Debit Cards (Visa, Mastercard)

Bank Transfer

E-wallets (Skrill, Neteller)

Cryptocurrencies (Bitcoin, Ethereum, Litecoin, Dogecoin, Tether)

When it comes to withdrawing your winnings, Herake Casino maintains the same level of flexibility and convenience. Players can choose to receive their payouts via the same methods used for deposits, ensuring a seamless and familiar experience.

Withdrawal requests are processed swiftly, with most traditional banking methods taking just a few business days to complete. However, for those seeking lightning-fast payouts, cryptocurrency withdrawals are hard to beat, with funds typically arriving in your digital wallet within minutes.

Herake Casino’s commitment to offering a diverse range of payment methods underscores its dedication to providing a user-friendly and inclusive gaming experience for all players, regardless of their geographical location or financial preferences.

Is Herake Legit?

Properly Licensed and Regulated

Holds a gaming license from the respected Curacao authority (No. 365/JAZ)

Owned and operated by established DvG Capital B.V. company

Adheres to regulatory requirements for fair gaming and player protection

Secure and Safeguarded

Implements robust 128-bit SSL encryption to safeguard user data

Allows secure cryptocurrency transactions and anonymous play options

Provides responsible gambling tools like self-exclusion, limits, and reality checks

Reputable Game Providers

Games supplied by trusted and renowned developers like NetEnt, Microgaming, Evolution

All games are regularly tested and certified for fair and random outcomes

Fast Payouts with High Limits

Offers instant cryptocurrency withdrawals processed 24/7

Permits high withdrawal limits of up to €50,000 per month

No widespread complaints found about delayed or unfair payouts

Established Reputation

Operating successfully in the online gambling industry since its launch in 2024

Part of the DvG Capital B.V. group running multiple respected casino brands

Generally positive reputation with very few legitimacy complaints or concerns

With proper licensing, robust security measures, games from top-tier providers, fast payouts, high limits, and an increasingly reputable track record – Herake Casino demonstrates all the hallmarks of a legitimate, trustworthy, and safe online gambling destination.

Is it Safe to Use?

Robust Security Protocols

Employs advanced 256-bit SSL encryption to protect user data

Implements multi-factor authentication for added account security

Adheres to strict data protection and privacy regulations

Responsible Gaming Measures

Offers comprehensive self-exclusion and cooling-off period options

Provides reality check reminders and session time limits

Promotes responsible gambling with educational resources

Player Protection Policies

Employs stringent anti-fraud and anti-money laundering measures

Implements rigorous age verification checks for all players

Ensures fair gaming with regular third-party audits and certifications

Safe Banking and Transactions

Supports secure cryptocurrency transactions for enhanced privacy

Offers a wide range of trusted fiat and digital currency payment methods

Processes withdrawals promptly with no reported delays or issues

Licensed and Regulated Platform

Operates under a legitimate Curacao gaming license (No. 365/JAZ)

Owned by reputable DvG Capital B.V. company with a clean track record

Follows strict licensing requirements for player safety and security

Design & Usability

Herake Casino’s design and user experience are a true standout, offering a sleek and modern interface that immerses players in an engaging gaming atmosphere. The website’s clean and uncluttered layout, complemented by a stylish dark color scheme, creates a visually appealing environment that sets the tone for an enjoyable gaming session.

Navigation is intuitive and user-friendly, with menus and game categories logically organized for easy browsing. Quick filters and search functions further streamline the process of discovering and accessing desired games.

The entire website is fully optimized for mobile devices, ensuring a seamless experience across all screen sizes without compromising functionality or features.

Herake Homepage

Performance is a top priority at Herake Casino, with the website loading quickly and games running smoothly without delays or interruptions. Players can enjoy a consistently reliable gaming experience, backed by fast server response times. Customization options abound, allowing players to personalize various settings, such as game window sizes, bet limits, and sound preferences, for a tailored experience that carries over across devices.

Quality of life features further enhance the overall user experience. Quick access to essential sections like banking, cashier, and account management ensures a seamless flow. Useful tools like game history, favorites lists, and jackpot trackers provide added convenience.

Live chat and customer support are readily available on all pages, ensuring prompt assistance whenever needed.

Mobile Offering

Herake Casino understands the need for flexibility and has developed an exceptional mobile gaming experience that allows seamless transition from desktop to mobile devices. The entire website is fully optimized for smartphones and tablets, with a sleek and responsive interface that adapts flawlessly to any screen size.

Navigating the mobile platform is intuitive, with user-friendly menus and all the features you’d expect, including access to the vast game library, banking options, promotions, and customer support.

The game selection is truly impressive, with a vast array of mobile-compatible slots, table games, live dealer titles, and more, ensuring an immersive experience on the go.

Mobile Offering

For added convenience, Herake offers a mobile-friendly cashier for secure deposits and withdrawals directly from your device. The process is seamless, allowing you to easily manage your bankroll while on the move.

Rest assured, the mobile platform integrates robust security measures, including SSL encryption and secure payment gateways, safeguarding your personal and financial information at all times.

Herake Casino’s mobile offering delivers an exceptional gaming experience, allowing you to indulge in the thrill of online casino gaming wherever you are.

Ease of Use

Herake Casino excels in providing a seamless and user-friendly experience, ensuring your gaming journey is as hassle-free as it is exciting. The well-organized layout and clean interface present all essential elements logically and accessibly, with intuitive navigation menus that cater to both seasoned players and newcomers.

The game library is a prime example of user-friendliness, with clear categorization, filters, and search functions that make discovering your preferred titles effortless. Managing your transactions is also streamlined, with a wide range of trusted payment methods and intuitive processes for deposits and withdrawals.

Customer support is another pillar of Herake’s user-friendly approach, with knowledgeable staff readily available via live chat, email, or comprehensive FAQs to promptly address any issues or queries in a friendly and easy-to-understand manner.

From the website’s intuitive design to the well-organized game library, seamless banking, and accessible support, Herake Casino’s commitment to ease of use is evident at every step. This allows you to focus solely on the thrill of the gaming experience without any unnecessary hurdles or complications.

Customer Support

Herake Casino understands that exceptional customer service is key to a positive gaming experience. To ensure that players receive prompt and effective assistance, the casino offers a variety of customer support channels, catering to different needs and preferences.

Live Chat Support

For immediate assistance, players can access Herake Casino’s 24/7 live chat support. This convenient option allows for real-time communication with knowledgeable support agents, who are ready to address any queries or concerns promptly. Whether you need help with account-related issues, game rules, or technical difficulties, the live chat feature provides a direct line to friendly and efficient support.

Email Support

In situations where an immediate response is not required, players can opt for email support. By sending their inquiries to the dedicated support email address, players can expect a comprehensive and well-structured response within a reasonable timeframe. This channel is particularly useful for more complex queries or for those who prefer written communication.

Live Chat

Comprehensive FAQ Section

Herake Casino’s extensive FAQ section serves as a valuable self-help resource. This knowledge base covers a wide range of topics, from account management and banking procedures to game rules and responsible gaming practices. Players can easily search for answers to common questions, empowering them to find solutions independently and efficiently.

Multilingual Support

To cater to a global audience, Herake Casino offers multilingual customer support. Players can communicate with support agents in various languages, ensuring that language barriers do not hinder their ability to receive effective assistance. This commitment to multilingual support demonstrates Herake’s dedication to providing an inclusive and accessible gaming experience.

Conclusion

Herake Casino stands out with a diverse game selection and innovative features with top-notch customer support, this casino has raised the bar.

With a library boasting over 7,000 games, ranging from classic slots to cutting-edge live dealer tables, Herake Casino caters to the diverse preferences of players worldwide. The addition of a comprehensive sportsbook and esports platform further solidifies its position as a one-stop destination for all your gaming needs.

The casino’s sleek and intuitive website design, coupled with its seamless mobile compatibility, ensures that players can enjoy a smooth and uninterrupted gaming session, regardless of their device or location.

The generosity of Herake Casino is evident in its attractive welcome bonus package and regular promotions, which not only reward new players but also keep the excitement alive for loyal patrons.

The inclusion of cryptocurrency payment options demonstrates the casino’s forward-thinking approach, catering to the growing demand for secure and anonymous transactions.

Whether you’re a seasoned gambler seeking new thrills or a newcomer looking to explore the world of online gaming, Herake Casino promises an excellent experience that will keep you coming back.

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FAQs

Q: Is Herake Casino licensed and regulated?

A: Yes, Herake Casino operates under a legitimate gaming license from the jurisdiction of Curacao (license no. 365/JAZ), ensuring fair play and player protection.

Q: What games can I play at Herake Casino?

A: Herake Casino offers an extensive game library with over 7,000 titles, including slots, table games, live dealer games, a sportsbook, and an esports platform. Top software providers like NetEnt, Microgaming, and Evolution Gaming power the games.

Q: Does Herake Casino offer a welcome bonus?

A: Absolutely! New players can take advantage of an generous welcome package that includes a 100% match bonus up to €250 on their first deposit, as well as additional bonuses on the second and third deposits.

Q: Are cryptocurrencies accepted at Herake Casino?

A: Yes, Herake Casino embraces cryptocurrencies and offers a 110% match bonus up to €250 on your first crypto deposit. Accepted cryptocurrencies include Bitcoin, Ethereum, Litecoin, Dogecoin, and more.

Q: Is there a mobile app or mobile-friendly website?

A: While Herake Casino does not currently have a dedicated mobile app, their website is fully optimized for mobile devices, ensuring a seamless gaming experience on smartphones and tablets.

Q: What customer support options are available?

A: Herake Casino provides 24/7 customer support via live chat and email. Additionally, there is a comprehensive FAQ section and multilingual support available.

Q: Are there any loyalty or VIP programs?

A: Yes, Herake Casino offers a rewarding loyalty program where players can accumulate points and progress through different tiers to unlock exclusive bonuses, higher withdrawal limits, and personalized support.

Q: Is Herake Casino safe and secure?

A: Absolutely. Herake Casino implements robust security measures, including SSL encryption, to protect player data and transactions. It also follows strict responsible gambling practices and player protection policies.

The post Herake Casino Review: 110% Crypto Welcome Bonus & Free Spins, Is it Legit? appeared first on Blockonomi.

The European Parliament has taken a step towards combating money laundering in the cryptocurrency industry by approving new regulations that establish formal due diligence obligations for crypto companies.

The legislation, passed on April 24, 2024, aims to improve “due diligence measures and identity checks” for customers, extending to entities such as crypto asset managers and centralized crypto exchanges.

TLDR

The European Parliament has approved new regulations that establish formal due diligence obligations for cryptocurrency companies to combat money laundering.

The new laws aim to improve “due diligence measures and identity checks” for customers and will impact crypto-asset service providers (CASPs) such as centralized crypto exchanges under the Markets in Crypto-Assets (MiCA) regulation.

CASPs will be required to report suspicious activities to authorities and follow standard Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures, such as customer due diligence (CDD).

A new agency, the Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA), will oversee and supervise the implementation of the new rule.

The final version of the law is considered a “positive result” for the crypto sector, as earlier iterations suggested a stricter approach that would have required KYC on self-custody originator/beneficiary.

Under the new laws, crypto-asset service providers (CASPs), which include entities regulated under the Markets in Crypto-Assets (MiCA) regulation, will be required to adhere to standard Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures.

These measures involve customer due diligence (CDD) and reporting any suspicious activities to the relevant authorities.

The introduction of these regulations comes as part of the European Union’s ongoing efforts to create a comprehensive framework for governing digital assets and their markets. MiCA, which came into force in June 2023, is set to be fully applicable by the end of the year, and the new anti-money laundering rules will work in tandem with this framework to ensure a more secure and transparent crypto ecosystem.

To oversee the implementation of the new rule, a dedicated agency called the Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) has been designated.

With its office situated in Frankfurt, Germany, AMLA will be responsible for supervising and ensuring compliance among CASPs and other affected entities.

While the law has been approved by the European Parliament, it still needs to be formally adopted by the Council of the European Union and published in the EU Office Journal before it can take effect.

Once these steps are completed, the legislation will come into application three years later, as confirmed by Patrick Hansen, EU strategy and policy director at Circle, in a post on X (formerly Twitter).

4/ The AMLR will apply to all CASPs (exchanges, brokers etc.) that are regulated under MiCA. These CASPs will need to follow standard KYC/AML procedures like customer due diligence (CDD) etc.

This is nothing new, as all crypto exchanges & custodial wallet providers in the EU are… pic.twitter.com/ZN1AsWdBpw

— Patrick Hansen (@paddi_hansen) March 24, 2024

Hansen also noted that the new requirements for CASPs are not entirely novel, as all crypto exchanges and custodial wallet providers in the EU are already subject to similar obligations under the existing Anti-Money Laundering Directive 5 (AMLD5).

However, the formalization of these requirements through the new legislation reinforces the EU’s commitment to creating a more secure and compliant crypto industry.

Interestingly, earlier versions of the proposed Anti-Money Laundering Regulation (AMLR) had suggested a much stricter approach, which would have necessitated KYC on the self-custody originator/beneficiary. This proposal had raised concerns among industry participants, who feared that it could hinder innovation and adoption in the crypto space.

However, thanks to the efforts of the crypto industry in advocating for a more balanced and risk-based approach, the final version of the law has been described as a “positive result” by Hansen.

The consensus reached allows for multiple options and a more nuanced application of the rules, taking into account the unique characteristics of the crypto ecosystem.

The adoption of these new anti-money laundering regulations by the European Parliament marks a significant milestone in the ongoing evolution of the crypto regulatory landscape.

As the industry continues to grow and mature, it is essential for regulators to strike a balance between fostering innovation and ensuring the integrity and security of the financial system.

The EU’s proactive stance in establishing a comprehensive framework for crypto assets, encompassing both MiCA and the new anti-money laundering rules, sets a strong precedent for other jurisdictions around the world.

The post EU Parliament Approves New Anti-Money Laundering Rules for Crypto Industry appeared first on Blockonomi.

President Joe Biden’s recent proposal to increase the capital gains tax rate to a historic high of 44.6% has sparked widespread discussions and concerns among investors, particularly those in the cryptocurrency space.

However, upon closer examination, it appears that the impact of this proposed tax hike on the average crypto investor may be minimal, if not entirely negligible.

TLDR

President Biden’s proposal to increase the capital gains tax rate to 44.6% for certain people is likely a “nothing burger” for the average crypto investor.

The 44.6% figure would only come into effect if two separate proposals were approved, targeting high-income earners with over $1 million in taxable income and $400,000 in investment income.

The average income earner, including most crypto investors, will not be affected by this proposal, as it targets only the highest earners.

Biden’s Federal Budget proposal also included a 25% tax on unrealized gains, but this would only apply to individuals with more than $100 million in net assets.

Some experts suggest that Biden’s tax proposals could be seen as political posturing designed to appeal to a lower-income voter base.

The 44.6% figure, which has been making headlines and causing a stir on social media, is not a blanket rate that would apply to all capital gains. Instead, it is the result of two separate proposals outlined in the Biden administration’s budget plan for the 2025 fiscal year.

The first proposal seeks to raise the top ordinary tax rate to 39.6%, while the second aims to increase the net investment income tax rate by 1.2 percentage points for those earning above $400,000.

When combined, these proposals would result in a top marginal rate of 44.6% on long-term capital gains and qualified dividends.

However, it is crucial to note that this proposed rate would only affect a small segment of the population—specifically, those with taxable income exceeding $1 million and investment income above $400,000.

For the vast majority of crypto investors, whose annual incomes fall well below these thresholds, the proposed changes would likely have little to no impact on their tax obligations.

Matthew Walrath, founder of Crypto Tax Made Easy, echoed this sentiment, stating that for

“99.9% of people, it’s a big, fat nothing burger.”

He emphasized that the proposed tax hike is essentially just that—a proposal—and that it would not affect the average crypto user even if it were to be signed into law.

Similarly, pseudonymous crypto accountant SqueezeTaxes described the backlash against the proposal as a “headline catfish,” noting that Biden’s tax proposals are targeting high-income earners, not the average investor.

3/ How does Boden propose to do this?

The TLDR is this:

– Bring back 39.6% as the highest tax bracket
– Increase NIIT to 5%
– High-income earners over $1 million will pay the ordinary tax rate on long-term capital gains

That’s where the 44.6% comes from.

Lets go deeper! pic.twitter.com/5L4XAVi3af

— Squeeze ???????????????? (@SqueezeTaxes) April 24, 2024

According to data from crypto payment firm TripleA, the annual income for the average crypto investor internationally stands at around $25,000, far below the thresholds outlined in the proposed tax changes.

In addition to the capital gains tax proposal, Biden’s Federal Budget also includes a 25% tax on unrealized gains for ultra-high-net-worth individuals.

While this proposal has been met with some criticism, it is important to note that it would only apply to individual taxpayers with more than $100 million in net assets, as reported by tax analysts at Grant Thornton.

Once again, this proposal targets a very small, wealthy subset of the population and is unlikely to impact the average crypto investor.

Some experts, like Walrath, suggest that Biden’s tax proposals could be seen as a form of political posturing, designed to appeal to a lower-income voter base.

By targeting the wealthy and positioning them as an “enemy,” the Democratic Party may be attempting to garner support from those who feel that the current tax system favors the rich.

Despite the limited impact on the average crypto investor, the proposed tax changes have sparked a broader discussion about the potential for high taxes to drive investors towards cryptocurrencies as a means of achieving economic freedom.

While the laws surrounding crypto tax reporting are still evolving, the current tax rates for digital assets remain lower than the proposed 44.6% capital gains tax rate.

The post Biden’s 44.6% Capital Gains Tax: A Political Play or Genuine Effort to Level the Playing Field? appeared first on Blockonomi.

The iconic “Buy Bitcoin” sign, famously held up behind then-Federal Reserve Chair Janet Yellen during her 2017 congressional testimony, has been auctioned off for a staggering 16 BTC, equivalent to just over $1 million.

The auction, which took place at PubKey, a Bitcoin-themed bar in New York City, was facilitated by the auction house Scarce.City and has set a new record for the platform.

TLDR

The iconic “Buy Bitcoin” sign held up behind Janet Yellen during her 2017 congressional testimony has been auctioned off for 16 BTC, or just over $1 million.

The auction was held at PubKey, a Bitcoin-themed bar in New York City, and facilitated by the auction house Scarce.City.

The sign’s new owner is a pseudonymous bidder known as “Squirrekkywrath” or “Justin,” described as a “bitcoin OG that no one has ever heard of.”

Christian Langalis, the original “Bitcoin Sign Guy” who held up the sign, will use the proceeds to fund his startup, Tirrel Corp, which is developing a Bitcoin Lightning network wallet on Urbit.

The auctioned notepad also includes Langalis’ notes and mock drawings of the sign from the day of the hearing.

The sign, hastily scrawled on a yellow legal pad by Christian Langalis, gained instant fame when it was flashed behind Yellen during the televised House Financial Services Committee hearing in July 2017.

The moment marked a significant milestone in Bitcoin’s journey, as it symbolized the cryptocurrency’s growing presence in the global monetary landscape and its ability to capture the attention of mainstream audiences.

Langalis, who was a 22-year-old intern at the Cato Institute at the time, was escorted out of the hearing room for violating committee rules by displaying the sign.

However, the impact of his action was immediate and far-reaching. CNBC reported that following the sign’s appearance, the price of Bitcoin rose by 3.7%, reaching over $2,418.

The winning bidder, known only by the pseudonym “Squirrekkywrath” or “Justin,” has been described by Alex Thorn, the head of research at Galaxy, as a “bitcoin OG that no one has ever heard of.” The mystery surrounding the buyer has only added to the allure of the auction and the significance of the “Buy Bitcoin” sign.

Congratulations to Justin, A.K.A. Squirrekkywrath, winner of the #BitcoinSignGuy auction for 16 #BTC. ????@tpacchia Get this man a Whale! ???? pic.twitter.com/DPpczcEzkJ

— PUBKEY (@PubKey_NYC) April 24, 2024

Christian Langalis, now known as the “Bitcoin Sign Guy,” has revealed that the proceeds from the auction will be used to fund his startup, Tirrel Corp, which is developing a Bitcoin Lightning network wallet on Urbit.

The Lightning Network is a layer-2 solution designed to improve the scalability and speed of Bitcoin transactions, while Urbit is a decentralized personal server platform.

By channeling the funds from the auction into this innovative project, Langalis is demonstrating his ongoing commitment to the growth and development of the Bitcoin ecosystem.

The auctioned item was not merely the sign itself, but also the yellow legal pad on which it was written. The notepad contains Langalis’ notes from the hearing, as well as mock drawings of the sign, providing a unique glimpse into the moments leading up to the iconic photobomb.

Although the page with the handwritten sign had been removed from the notepad shortly after the hearing, it was reattached using clear archival wire, ensuring its preservation as a piece of Bitcoin history.

Prior to this record-breaking auction, Langalis had created and sold 21 replicas of the sign in 2019, which fetched an average price of 0.8 BTC each, equivalent to approximately $51,300 at today’s prices.

These replicas have found homes in the offices of prominent venture firms such as Paradigm, Blockchain Capital, and Castle Island Ventures, as well as the crypto think-tank Coin Center, further cementing the sign’s status as a symbol of Bitcoin’s growing influence.

The post Janet Yellen Photobomb “Buy Bitcoin” Sign Sells for $1 Million At Auction appeared first on Blockonomi.

Hong Kong is set to make history on April 30 with the launch of its first-ever spot Bitcoin and Ether exchange-traded funds (ETFs).

The Securities and Futures Commission (SFC) of Hong Kong has officially approved the first batch of these ETFs, marking a significant milestone in the city’s commitment to becoming a hub for digital asset investments.

TLDR

Hong Kong’s Securities and Futures Commission (SFC) has officially approved the first batch of spot Bitcoin and Ether ETFs to start trading on April 30.

The approved ETFs include offerings from China Asset Management (ChinaAMC), Harvest Fund Management, and Bosera Asset Management in partnership with HashKey.

Hong Kong’s ETFs will utilize an ‘in-kind’ creation model, allowing the direct exchange of cryptocurrencies for fund shares, unlike the cash-creation model used in the United States.

Analysts predict that the new ETFs will accumulate around $1 billion in assets under management within their first one to two years, despite the regulatory environment in Mainland China.

The success of Hong Kong’s ETFs could prompt other markets, particularly in Asia, to consider similar structures and spur further innovation in digital asset trading.

The approved ETFs are managed by the Hong Kong units of China Asset Management (ChinaAMC), Harvest Fund Management, and Bosera Asset Management in partnership with HashKey.

These products are expected to provide investors with a more straightforward and regulated way to invest in Bitcoin and Ethereum without owning the cryptocurrencies directly.

JUST IN: ???????? Hong Kong spot #Bitcoin ETFs will begin trading on April 30: HashKey Capital

Asia is ready ???? pic.twitter.com/TDfNZTqPQU

— Bitcoin Magazine (@BitcoinMagazine) April 24, 2024

One of the key differentiators of Hong Kong’s ETFs is their use of an ‘in-kind’ creation model, which sets them apart from similar products in the United States. Unlike the cash-creation model used in the U.S., Hong Kong’s ETFs allow for the direct exchange of cryptocurrencies for fund shares.

This approach streamlines transactions, lowers costs for investors, and is expected to enhance liquidity and provide more accurate tracking of the underlying digital assets.

According to Thomas Zhu, head of digital assets and family office business at ChinaAMC, the in-kind feature of these ETFs will attract coin holders by offering them the ease of converting their coins to fully regulated ETFs managed by professional fund managers and regulated custodians.

With the growing adoption of ETFs in institutional asset allocation and retail trading in Hong Kong, Zhu expects robust demand for these offerings.

Market analysts predict that the new ETFs will accumulate around $1 billion in assets under management within their first one to two years.

While these figures are modest compared to the inflows seen by similar ETFs in the U.S., they represent a significant development for Hong Kong’s financial landscape, especially given the regulatory environment in Mainland China, where cryptocurrencies remain banned.

Rebecca Sin, an ETF analyst at Bloomberg, highlighted that the ‘in-kind’ model allows existing cryptocurrency holders to directly engage with the ETF market, potentially broadening the investor base.

Looks like Hong Kong is going to allow in-kind creations and redemptions for spot bitcoin ETFs in 2Q (unlike US which is cash creations only), which could help spark aum and volume in the fast-growing region via new note today from @Rebeccasin_SK https://t.co/IxcdWEFDvC pic.twitter.com/sDsS4nbzGi

— Eric Balchunas (@EricBalchunas) March 26, 2024

This unique feature of Hong Kong’s ETFs could serve as a key differentiator in attracting global investors looking for efficient ways to gain exposure to cryptocurrencies through established financial channels.

The launch of these ETFs is especially timely, as it coincides with a significant uptick in Bitcoin prices, which have surged more than 50% in the current year, reaching new heights.

This positive trend in the cryptocurrency market may increase investor interest in the ETFs at launch, providing a robust start to their trading on the Hong Kong Stock Exchange.

As Hong Kong prepares to launch these pioneering products, the global financial community is watching closely. The success of these ETFs could prompt other markets, particularly in Asia, to consider similar structures.

The introduction of these ETFs not only reinforces Hong Kong’s position as a leading financial hub but also showcases its forward-thinking approach to digital asset innovation.

As trading begins on April 30, the financial world will closely monitor the uptake and performance of these ‘in-kind’ spot Bitcoin and Ether ETFs as a gauge of the evolving landscape of cryptocurrency investment products.

The post Hong Kong’s ‘In-Kind’ Crypto ETFs: First Batch of Spot Bitcoin & Ether ETFs to Go Live April 30th appeared first on Blockonomi.

The cryptocurrency market has once again demonstrated its volatile nature, with major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) experiencing significant declines in value.

On April 25, Bitcoin’s price dipped below $64,000, triggering a wave of liquidations across the market and sending shockwaves through the crypto community.

TLDR

Bitcoin’s price dipped under $64,000 on April 25, triggering widespread liquidations of long positions across the crypto market.

The price drop is attributed to several factors, including escalating geopolitical tensions in the Middle East, the arrest of Samourai Wallet founders, and post-halving volatility.

Over $200 million in liquidations occurred in the past 24 hours, with Bitcoin and Ethereum experiencing $37.83 million and $34.17 million in long position liquidations, respectively.

Altcoins, such as Solana, Dogecoin, Cardano, Shiba Inu, and Avalanche, have suffered even more significant declines than Bitcoin.

The crypto market crash is occurring amid a backdrop of uncertainty and instability, with investors seeking safer assets and adapting to changing market conditions.

The sudden drop in prices has been attributed to a combination of factors, including escalating geopolitical tensions in the Middle East, the arrest of Samourai Wallet founders, and post-halving volatility.

These events have created an atmosphere of uncertainty and instability, prompting investors to seek safer assets and reevaluate their positions in the market.

One of the primary drivers behind the current market crash is the ongoing military conflict between Israel and Lebanon.

Recent strikes by the Israeli military on 40 sites in Southern Lebanon have heightened geopolitical tensions in the region, leading to increased risk aversion among investors. As a result, the demand for cryptocurrencies has temporarily waned, contributing to the downward pressure on prices.

Another significant factor behind the market downturn is the arrest of Keonne Rodriguez and William Hill, the co-founders of cryptocurrency mixer Samourai Wallet.

The United States Department of Justice has charged the pair with conspiracy to commit money laundering and operating an unlicensed money transmitting business.

The DOJ alleges that Samourai Wallet facilitated over $2 billion in illegal transactions and aided in money laundering activities, generating millions in fees for its services.

The news of the arrest has sent shockwaves through the crypto community, fueling uncertainty and prompting investors to reassess their holdings.

The recent Bitcoin halving event, which occurred on April 20, has also played a role in the current market volatility. Historically, post-halving periods have been characterized by increased price fluctuations as miners and investors adjust to the reduced supply of new Bitcoins entering circulation.

The anticipation of short-term volatility following the halving had already set the stage for a turbulent market, and the combination of external factors has only amplified the instability.

The sharp price drops in Bitcoin and Ethereum have led to widespread liquidation of long positions across the market.

According to data from Coinglass, over $200 million in liquidations occurred in the past 24 hours, with Bitcoin and Ethereum experiencing $37.83 million and $34.17 million in long position liquidations, respectively.

The mass liquidation has further exacerbated the downward pressure on prices, as traders scramble to minimize their losses and protect their positions.

Altcoins have not been spared from the market downturn, with many experiencing even more significant declines than Bitcoin. Solana, Dogecoin, Cardano, Shiba Inu, and Avalanche have all suffered substantial losses, ranging from 7% to 10%.

The widespread selloff across the altcoin market has contributed to the overall decline in the global cryptocurrency market value, which currently stands at $2.37 trillion, a decrease of 4.28% in the past 24 hours.

Looking ahead, the market’s recovery will depend on a variety of factors, including the resolution of geopolitical tensions, the outcome of the Samourai Wallet case, and the stabilization of post-halving volatility.

While some analysts, such as Rekt Capital, predict that the next bull market peak may occur 518-546 days after the halving, the current market conditions underscore the need for investors to remain vigilant and prepared for further volatility in the short term.

#BTC

If history repeats…

Next Bull Market peak may occur 518-546 days after the Halving

That's mid-September or mid-October 2025$BTC #Bitcoin #BitcoinHalving pic.twitter.com/2pZVFYmnJX

— Rekt Capital (@rektcapital) April 24, 2024

The post Why Is Crypto Down Today? Geopolitical Tensions, Samourai Wallet Arrests, & Post-Halving Volatility appeared first on Blockonomi.

Federal prosecutors have charged Keonne Rodriguez and William Lonergan Hill, founders of the privacy-focused Bitcoin wallet and mixer Samourai Wallet, with conspiracy to commit money laundering and conspiracy to operate an unlicensed money transmitting business.

The charges, announced by the U.S. Department of Justice (DOJ) on Wednesday, follow an extensive investigation into the pair’s activities and the operations of Samourai Wallet.

TLDR

Federal prosecutors charged Samourai Wallet founders Keonne Rodriguez and William Lonergan Hill with conspiracy to commit money laundering and conspiracy to operate an unlicensed money transmitting business.

Samourai Wallet allegedly facilitated more than $100 million in money laundering transactions from illegal dark web markets and over $2 billion in unlawful transactions between 2015 and the present.

Rodriguez and Hill collected approximately $4.5 million in fees for their mixing services and marketed the wallet to “dark/grey market participants.”

The Samourai Wallet website has been seized, and a seizure warrant was issued for the mobile application on the Google Play Store.

Following the announcement of the arrests, Bitcoin, Ether, and major altcoins briefly tumbled, with Bitcoin dropping 3.6% and Ether declining 2.51%.

According to the DOJ, Samourai Wallet allegedly facilitated more than $100 million in money laundering transactions from illegal dark web markets and over $2 billion in unlawful transactions between 2015 and the present.

The $2 billion figure was calculated by converting the value of bitcoin laundered through the platform to U.S. dollars based on the cryptocurrency’s price at the time of each transaction.

Prosecutors allege that Rodriguez, 35, and Hill, 65, collected approximately $4.5 million in fees for their mixing services. The pair is accused of developing, marketing, and operating the mixer, which provided a platform for criminals to engage in large-scale money laundering.

The Samourai wallet domain name has been seized

The charges carry a maximum sentence of 20 years for conspiracy to commit money laundering and five years for conspiracy to operate an unlicensed money transmitting business.

The DOJ’s press release cited tweets and private messages in which Rodriguez and Hill allegedly encouraged and openly invited users to launder criminal proceeds through the mixer.

The pair also reportedly sought investors by marketing the premise that “dark/grey market participants” would be included in their user base, with a screenshot from marketing materials listing “Restricted Markets” as a target demographic alongside online gambling and asset protection.

As part of the coordinated effort by law enforcement agencies, Rodriguez was arrested on Wednesday morning in Pennsylvania, while Hill, Samourai Wallet’s CTO, was apprehended in Portugal.

The United States plans to seek Hill’s extradition to stand trial in the country. The Samourai Wallet website, which was hosted in Iceland, has been seized, and a seizure warrant was issued for the mobile application on the Google Play Store.

The news of the arrests sent shockwaves through the cryptocurrency market, with Bitcoin, Ether, and major altcoins briefly tumbling in the aftermath of the announcement.

Within an hour of the DOJ’s press release, Bitcoin’s price dropped 3.6%, dipping below key support levels to $63,710 before recovering slightly to $64,546. Ether, the second-largest cryptocurrency by market capitalization, dropped 2.51% within the same time frame and continued to decline further to $3,158.

The sharp price drops in the top two cryptocurrencies triggered widespread liquidation of long positions, with Bitcoin seeing $33.08 million worth of long positions liquidated and Ether experiencing $29.88 million in liquidations over a 12-hour period.

Approximately $23 million in long positions were liquidated across the rest of the crypto market, according to CoinGlass data.

As the case against Rodriguez and Hill unfolds, the cryptocurrency community will closely watch the implications of this development for privacy-focused crypto services and the broader landscape of government regulation in the digital asset space.

The post The Samourai Wallet Takedown: U.S. Government’s Latest Crackdown on Crypto Privacy appeared first on Blockonomi.

Morgan Stanley, one of the largest investment banks in the United States, is exploring the possibility of expanding its bitcoin exchange-traded fund (ETF) offerings by allowing its approximately 15,000 brokers to recommend these products to customers.

TLDR

Morgan Stanley is considering allowing its 15,000 brokers to recommend spot bitcoin ETFs to customers.

Currently, the firm allows bitcoin ETF purchases only on an unsolicited basis, meaning customers must approach their advisors about investing.

The firm is establishing requirements for risk tolerance and limits on allocation and trading frequency before allowing solicited purchases.

Major brokerage firms like Merrill Lynch and Wells Fargo also offer spot bitcoin ETFs but only on an unsolicited basis and with certain restrictions.

This move could potentially bring fresh energy and capital into the spot bitcoin ETF market, which has seen significant growth since the Securities and Exchange Commission (SEC) approved 11 spot bitcoin ETFs in January 2024.

Currently, Morgan Stanley allows its customers to purchase bitcoin ETFs, but only on an unsolicited basis. This means that customers must approach their advisors about investing in these products, rather than the advisors actively recommending them.

The firm’s potential policy change would enable brokers to pitch bitcoin ETFs directly to their clients, potentially increasing demand for these investment vehicles.

However, before allowing solicited purchases, Morgan Stanley is working to establish “guardrails” to manage the associated risks.

These include requirements for risk tolerance and limits on allocation and trading frequency. The firm aims to ensure that the expansion of bitcoin ETF sales is done in a controlled manner, providing access to all interested customers while prioritizing caution.

Two senior executives familiar with the company’s plans confirmed that Morgan Stanley is laying the groundwork for this change, although they did not provide a specific timeline for when the new policy might be implemented.

One executive emphasized the firm’s commitment to careful implementation, stating,

“We’re going to make sure that we’re very careful about it…we are going to make sure everybody has access to it. We just want to do it in a controlled way.”

If Morgan Stanley proceeds with allowing its brokers to recommend bitcoin ETFs, it would be the first among its peers to do so.

Other major brokerage firms, such as Bank of America’s Merrill Lynch and Wells Fargo, have taken a similarly cautious approach since the approval of spot bitcoin ETFs.

These firms offer the products but only on an unsolicited basis and, in some cases, with additional restrictions. For example, Merrill Lynch requires customers to have at least $10 million in assets to purchase a bitcoin ETF.

The potential move by Morgan Stanley is a testament to the growing demand for spot bitcoin ETFs, which allow investors to gain exposure to the oldest cryptocurrency without directly holding the asset.

Since their approval, these ETFs have attracted significant inflows, with U.S.-traded spot bitcoin ETFs from major financial institutions amassing a cumulative net inflow of $12.29 billion and over $53.6 billion in assets under management as of Wednesday, according to SoSoValue data.

Total Bitcoin Spot ETF Net Inflow

However, some firms remain hesitant to embrace bitcoin ETFs. Raymond James Financial does not currently offer cryptocurrency products on its platform, while Vanguard has openly expressed its skepticism about the role of these products in long-term portfolios.

LPL Financial, the largest independent brokerage with over 22,000 brokers, planned to take three months to determine which bitcoin funds it could offer to customers.

Cetera Financial Group, another independent broker-dealer, has approved four bitcoin ETFs for its advisors to offer, along with additional education and training. Cetera has also implemented allocation limits and requires customers to have aggressive risk tolerances.

As Morgan Stanley continues to explore the expansion of its bitcoin ETF offerings, it remains conscious of the speculative nature of these investments.

A senior executive noted that while customers have shown strong interest in bitcoin ETFs, most are not “betting the ranch” on the cryptocurrency, instead allocating a small portion of their portfolio to these products.

The post Morgan Stanley: About to Unleash 15,000 Brokers to Promote Bitcoin ETFs appeared first on Blockonomi.

GnosisDAO, the community behind the EVM-compatible layer 1 Gnosis Chain, has announced a strategic investment of US$1.5M and 500 GNO tokens in HOPR, a pioneer in providing fully private, uncensorable data exchange between peers.

The investment will facilitate the development of GnosisVPN, a fully decentralized Web3 VPN built on HOPR’s incentivized private mixnet.

TLDR

GnosisDAO has decided to invest US$1.5M and 500 GNO tokens in HOPR to develop GnosisVPN, a fully decentralized Web3 VPN on an incentivized private mixnet.

GnosisVPN will utilize HOPR’s mixnet technology to enhance data privacy and strengthen the resilience of decentralized infrastructure and services in the Gnosis ecosystem.

The investment aligns with Gnosis’ commitment to building scalable and accessible infrastructure and services for individuals, prioritizing privacy and safety.

The development of GnosisVPN follows a series of recent advancements from Gnosis, including uRamp, Gnosis Pay, and the integration of Hashi.

Gnosis Chain has surpassed 200,000 validators, solidifying its position as the second-largest blockchain validator community globally.

The decision to invest in HOPR and develop GnosisVPN aligns with Gnosis’ commitment to building scalable and accessible infrastructure and services for individuals while prioritizing privacy and safety.

By utilizing HOPR’s mixnet technology, GnosisVPN aims to enhance data privacy and strengthen the resilience of decentralized infrastructure and services within the broader Gnosis ecosystem.

Mixnets, short for Mix Networks, are an anonymity solution that keeps information sent over the internet private and secure by mixing up data from different sources before sending it to its destination.

HOPR’s incentivized private mixnet is the first of its kind, ensuring that node runners receive fair compensation for their valuable service.

Friederike Ernst of Gnosis emphasized the importance of privacy for the future of an open and equitable internet, stating that while privacy is not a native element of most blockchain technologies, it can be layered and interwoven into Web3.

GnosisVPN will initially deliver a service tailored to the requirements of typical Gnosis users, with a clear route towards adoption by the several billion users who currently use traditional VPNs with centralized chokepoints.

Supporting the development of a structurally superior decentralized alternative aligns with the overarching Gnosis 3.0 initiative, which aims to apply Web3 services for practical needs.

Sebastian Bürgel, Founder of HOPR, highlighted the close alignment of values between HOPR and Gnosis, with both projects sharing a steadfast commitment to furnishing infrastructure and services catered to individuals.

Building on a longstanding history of collaboration between the two projects, GnosisVPN represents one of GnosisDAO’s largest investments, solidifying their joint commitment to building scalable and accessible infrastructure and services for individuals.

This milestone follows a string of recent developments from Gnosis, including the introduction of uRamp, a platform aimed at streamlining transactions between on-chain assets and traditional fiat currencies, and Gnosis Pay, the world’s first decentralized payments network.

Earlier this month, GnosisDAO voted for the integration of Hashi, upgrading Gnosis Chain’s canonical bridges and setting a new standard for cross-chain security.

As of March 2024, Gnosis Chain surpassed 200,000 validators, solidifying its position as the second-largest blockchain validator community globally.

The post GnosisDAO Invests in HOPR to Develop GnosisVPN: A Decentralized Web3 VPN appeared first on Blockonomi.

Two lawyers from the Securities and Exchange Commission (SEC), Michael Welsh and Joseph Watkins, have stepped down from their roles after Robert Shelby, the Chief United States district judge of the United States District Court for the District of Utah, criticized and sanctioned the handling of the SEC in a case involving crypto company Digital Licensing Inc. (DEBT Box), according to Bloomberg.

As reported, the lawyers abused their power by making false statements, misrepresentations, and failing to provide adequate evidence. Their departures are remarkable due to their direct connection to the SEC’s legal action against DEBT Box.

The SEC’s lawsuit against DEBT Box faced sharp criticism from Judge Robert Shelby. The honorable judge denounced the lawsuit for containing false statements and lacking sufficient evidence to substantiate its claims. This critical evaluation shed light on the shortcomings of the SEC’s case.

As a consequence of the court’s scrutiny, Judge Shelby took decisive action by ordering the SEC to assume responsibility for a portion of DEBT Box’s legal expenses.

The SEC is Playing Fast And Loose

Gurbir Grewal, the enforcement chief of the SEC, admitted that the agency needs improvement and publicly apologized for the agency’s conduct. To rectify the situation, Grewal initiated changes within the SEC, including appointing new attorneys to handle the DEBT Box case and implementing mandatory training programs for the enforcement staff. These measures were aimed at preventing similar missteps in the future and rebuilding public trust.

Meanwhile, DEBT Box’s legal representatives filed motions seeking reimbursement of over $1.5 million in fees and costs incurred during the case. The SEC, however, countered by trying to get the case dropped without admitting fault. Judge Shelby’s decision will determine if the case goes forward or will come to a resolution.

Last July, the regulator sued DEBT Box- a decentralized blockchain network that uses eco-friendly technology to help people cover their household debt and is being backed by commodities and assets, such as gold, silver, platinum, oil, natural gas, agriculture, real estate, and royalties, accusing it of defrauding investors, opening a new tab of nearly $50 million.

The SEC accused DEBT Box of attempting to transfer its assets abroad. Referring to a YouTube video released by the company, it asserted that DEBT Box was relocating its activities to the United Arab Emirates as a means to circumvent United States securities laws.

Time For Retribution

The SEC’s action against DEBT Box is considered unfair or excessive. As reported, its “abuse of power” made it impossible for DEBT Box’s owners to pay their staff, leading to the cancellation of loans, and causing credit card companies and banks to decline cooperation with them in DEFT’s filing.

Two lawyers’ resignations from the SEC have fueled rumors that SEC chair Gary Gensler may also resign.

The SEC frequently faces criticism for its aggressive stance toward cryptocurrency firms, with its chair, Gary Gensler, being a vocal skeptic of the industry. However, a reporter said Gensler is unlikely to resign voluntarily and the White House may block him from doing so.

The SEC functions as an autonomous body within the federal government of the United States and supervises securities exchanges, brokers, dealers, investment advisors, and mutual funds intending to foster equitable transactions, ensuring the disclosure of significant market information, and combating fraud.

Under Gensler’s leadership, the SEC has initiated numerous lawsuits against crypto entities.

Similar to the DEBT Box’s case, Binance also faces struggles following the SEC’s charges against the exchange in June last year.. In court documents dated March 5, Binance.US COO Christopher Blodgett revealed that the exchange had to lay off over 200 staff, equivalent to two-thirds of the workforce.

Blodgett added that the lawsuit also caused the exchange’s revenue to decrease by 75%. The number of corporate partners has also decreased from 20 to 5 in a few months.

The post SEC Faces Shakeup After Judge Blasts Lawyers in DEBT Box Suit appeared first on Blockonomi.

As the bitcoin turns bullish, various altcoins in the crypto world also follow the same bullish patterns. Near Protocol and PEPE gain massive support in the prevalence of a strong buying sentiment.

Near Protocol, the market’s leading AI cryptocurrency by market cap, has enjoyed unwavering success recently, pumping over 6% today and 17% this week. The market’s interest in AI projects has been increasing recently, as evidenced by a 2.6% increase in the sector’s total market capitalization.

PEPE price increased by more than 35% in just one week after a well-known cryptocurrency exchange declared that it would list the altcoin’s perpetual contracts for the first time.

Near Protocol Climbs As Analysts Support AI Coins To Boom

The exponential price movement of Near Protocol helps market analysts anticipate a decisive upswing for AI cryptocurrencies, suggesting a 5X increase from their local highs. Near protocol recently exhibited a 6% pump outpacing the market average.

The bouncing back of Near protocol above the green box with a good trading volume is a testament that NEAR is about to make new highs, moving forward to a local $9 high. The latest ecosystem developments are the reason for this price surge.

The introduction of Near Protocol’s technology to telegram has created self-custodial wallets and eased the users by bypassing seed phrases. Near Protocol announced it will power the technology, garnering notable attention on social media with a tweet amassing over 100K views.

However, Near Protocol is not the only project on the cusp of technological breakthroughs. The PEPE price storm has taken the market analysts by a shock.

PEPE Price Analysis Suggests Market Optimism

PEPE is currently trading at $0.000006692, making it the fourth-highest rising cryptocurrency over the last seven days. PEPE price analysis suggests a significant drop in bearish sentiment and the emergence of bulls, as the MACD line for PEPE crossed above the signal line.

The transition for PEPE price signals the gearing up of the token’s market momentum for further increases. Analysts interpret this as a buying signal with further expectations of a PEPE price increase. PEPE’s Elder-Ray index has moved to a positive value, confirming the increase in positive momentum.

PEPE’s mentioned index is at 0.0000014. Additionally, data from PEPE’s Directional Movement Index (DMI) shows that the positive direction index surpassed the negative index on April 22, giving a bullish signal for PEPE price.

On the other hand, DTX Exchange creates history with its unprecedented presale soaring above $330K. Its DeFi features have attracted investors.

DTX Exchange (DTX) Becomes A Magnet For Investors

DTX Exchange (DTX) is a trading exchange that enables users to trade cryptocurrencies, forex, equities, and contract-for-differences (CFDs). The platform boasts state-of-the-art infrastructure and innovative trading features, offering users unparalleled opportunities. Notably, DTX will be the first large-scale exchange to provide users with 1000X leverage, all while eliminating the need for KYC (Know Your Customer) requirements.

With minimal trading costs, traders can maximize their investments thanks to the platform’s community-centric strategy. In addition to having access to prospective airdrops, community members are entitled to governance and voting rights. The platform offers various products, including the DTX wallet and multitier accounts, catering to a wide range of user requirements and enhancing the overall trading experience.

DTX Presale Goes Unprecedented As It Raises Over $330K in Presale Stage 1

DTX’s recent presale success has got tremendous relevance due to its over $330,000 stage 1 raise. This news has sent shivers down the spine of the bull market, casting a shadow over several new projects. The crypto sphere regards it as a disruptive force as it successfully gathers over 3,000 holders within days. This makes DTX Exchange a compulsory tool for massive growth.

The ongoing presale presents marks a prime time for investors to be a part of DTX Exchange and play an integral role in shaping its future. DTX is poised to capitalize on this market opportunity, especially given its presale price of $0.02. It has readily raised over $200K within no time. It will soon sell at the $0.075 level in stage 2.

Learn more:

Visit DTX Presale

Read Whitepaper

Join The DTX Community

The post DTX Exchange (DTX) Pre-Sale Becomes Center of Attention With DeFi Features as NEAR Protocol (NEAR) and PEPE Build Momentum appeared first on Blockonomi.

Every investor in the crypto market has been waiting for the cryptocurrencies to bounce back out of the bearish correction that happened recently. People are thinking of the best currencies in the market to invest in. The experts have identified some of the tokens that may prove to be the best option for investors.

The BEFE coin is growing in the market at a rate that has been astonishing for the experts as well. The BEFE coin started its journey as a meme currency but has now grown to become one of the fastest-growing currencies in the market. The BEFE coin is being supported by the investors to build the community that it has.

If you wish to understand more about why to invest in the BEFE coin then let’s begin this tale for BEFE coin profits.

The BEFE Coin Interaction 

The BEFE coin was initially launched as a meme token and was not given many tasks to finish as a currency. The launch of the BEFE coin was finished in late 2023 and since then, there have been many changes to the BEFE coin. Recently, the BEFE coin turned around completely and is now working to get more credibility in the market.

The BEFE coin is based on the Ethereum chain and has also partnered with the Bitgert chain. The Bitgert chain offers the fastest transaction speeds to the BEFE coin which makes BEFE such a useful option. Then the BEFE coin has also been able to create a community around smart investments and parody for itself.

The BEFE coin has been in the talks for the latest upgrades but the token might gain the status of fastest growing cryptocurrency. Moreover, the BEFE coin is making it to be listed on another two exchanges. These few changes can make the BEFE coin boost in price and have better performance.

The Price Calculations for BEFE Coin 

The price increase for the BEFE coin is predicted to be taken out of the collaborations and projects that it is adding to the arsenal. The BEFE coin has recently announced that it will be added to two new exchanges. This news has helped the price of the token to be increased by a lot. Then the token is going to enter phase 5 too, this is also another positive news for the cryptocurrency.

The BEFE coin is growing at a rapid rate and it is predicted that the BEFE coin may increase by at least 500% by the end of this year. The RSI score of BEFE coin is also over 55 which makes it the perfect choice for a strong buy signal. Other price indicators like the MACD value and moving average of the BEFE coin are adding to the positive sentiment related to the BEFE coin.

The BEFE coin is predicted to get to the top of the chain soon because of the utility of the BEFE coin has been increased on my floor.

Conclusion

There have been multiple additions to the BEFE coin and the market is ready to have at it for the BEFE coin. It seems as if the BEFE coin is growing to be the largest token in the market after a few years. The investment experts suggest that putting money in the BEFE coin will definitely be profitable for the users. So, if you wish to make quick money, then the BEFE coin is the best choice.

The post Could BEFE Coin Hit All-Time Highs? appeared first on Blockonomi.

In case you are not conversant with the crypto market, you should know that it’s an industry that relies on hype and buzz. That’s why, many altcoins face several problems because of the inconsistencies surrounding the hype created around them. Bitgert is unique thanks to a solid community that ensures the hype around the coin never goes down. And how does that happen? Through sharing of created humored content that constantly ensures engagement even across social media platforms.

Should we talk about how Bitgert isn’t just depending on its innovations but looking for other ways to keep developing and ensure the Bitgert coin appreciates more in value? Yeah, this particular reason makes Bitgert an interesting coin to observe and watch keenly by investors. Hasn’t it ever crossed your mind about how Bitgert is rising consistently in value while other coins are regressing? Yeah, even this week, the Bitgert coin keeps growing. So, let’s check out factors propelling its rise weekly.

Bitgert: Enhanced Technical Features

If you ask many crypto investors and enthusiasts today about what problems they currently experience. Many of them will tell you how they spend a great deal of money just to quickly trade their assets on the platform. This has often frustrated them and left some with no chance of withdrawing all their investments.

Well, Bitgert has a blockchain that enables anyone to perform multiple transactions with quick speed and doesn’t require them to pay any fee. Who would see such an opportunity and not want to take advantage of it? That’s Bitgert for you!

Expansion Growth Strategy

An altcoin can only witness a positive rise in value if it’s accessible to a variety of users. You see, Bitgert didn’t just stop at producing the token but is putting in place every effort to ensure that the Bitgert coin is present on every exchange listing. With its partnership with other decentralized financial platforms, the Bitgert coin isn’t just a digital asset, but a very valuable one at that.

For instance, the Bitgert coin is present on popular platforms like Binance, Kucoin, CoinmarketCap, and Bitmart. Its presence on listings like this and several others ensures its accessibility to global investors. This increases the confidence of investors to get the coin which ultimately influenced the market in Bitgert’s favour!

Unlike other altcoins, Bitgert isn’t just making promises but fulfilling them through its groundbreaking features that it’s bringing into the crypto community. These features are attracting investors from far and wide and it’s not stopping anytime soon. 

Bitgert is rising daily and that means, you shouldn’t ignore the token to avoid regretting not investing both now and in the short run. Get a Bitgert coin now and watch your investment transcend to massive crypto wealth!

The post Bitgert Coin Price Poised for Significant Gains This Week appeared first on Blockonomi.

Zug, Switzerland, April 24th, 2024, Chainwire

Researchers from the University of Zürich’s Communication Systems Group, in collaboration with the Acurast Association building on Polkadot and other ecosystems, have unveiled groundbreaking results in their latest study, “Performance Analysis of Decentralized Physical Infrastructure Networks and Centralized Clouds.” This work demonstrates the viability of Decentralized Physical Infrastructure Networks (DePIN) as a robust alternative to traditional centralized cloud computing platforms.

DePINs, leveraging blockchain technology and the Internet of Things (IoT), aim to enhance data sovereignty, reduce dependency on centralized models, and improve system resilience against potential failures. The research specifically highlights and evaluates Acurast, a new decentralized serverless cloud network that capitalizes on underutilized resources of smartphones to perform complex computing tasks with enhanced security and efficiency. 

Key Findings:

Enhanced Efficiency: Acurast has shown potential to perform computationally intensive tasks more efficiently than traditional cloud services like Google Cloud Platform and Amazon AWS.

Power Efficiency: Acurast significantly reduce power consumption, compared to existing centralized server infrastructure, making it an environmentally friendly alternative to existing solutions.

Empirical Evidence: The study provides empirical evidence supporting the theoretical benefits of DePINs, demonstrating Acurast’s ability to handle computationally intensive applications with reliability and cost-effectiveness.

“The advent of decentralized technologies presents a unique opportunity to rethink how we manage and operate digital infrastructures,” said Jan von der Assen, PhD student and Junior Researcher of the Communication Systems Group (CSG) at the University of Zurich (UZH) on the project. “Acurast not only challenges the status quo but may also present a scalable, secure, and sustainable model for future computing needs.”

This research marks a significant step toward understanding and harnessing the power of DePINs for computing. It opens up a real alternative to existing cloud providers for applications in all industries, especially where confidentiality is paramount.

The full research paper is publicly available and has been accepted at the upcoming DePIN Workshop of the International Conference on Blockchain Technology (ICBC) 2024.

About University of Zürich’s Communication Systems Group

The Communication Systems Group (CSG) at the University of Zurich focuses on research and development in networked systems and communication mechanisms. The group is dedicated to advancing the state of the art in communication systems, network security, and infrastructure development.

About Acurast Association

The Acurast Association is dedicated to breaking up the cloud monopoly with Acurast using mobile hardware, thereby democratizing and decentralizing the cloud. Allowing everyone to become a part of the cloud through their mobile devices. Providing developers with unrestricted, permissionless access to computing resources that are secure, cost-effective, and confidential.

Contact

Co-Founder
Pascal Brun
Acurast
hi@acurast.com

The post Research Reveals Mobile Devices as Catalysts for Efficient Decentralized Infrastructure Networks (DePINs) appeared first on Blockonomi.

In the growing cryptocurrency space, certain altcoins like Pepe (PEPE) and Floki (FLOKI) are making headlines with their remarkable price surges, signaling a potential new era for meme coins.

Meanwhile, the DTX Exchange is capturing the attention of the crypto community with its unprecedented $325,000 presale, promising to revolutionize trading with features like 1000X leverage and no KYC requirements.

Floki (FLOKI) Gets Listed on Revolut: Price Soars by 26.2%

Floki (FLOKI) has quickly become a buzzword in the meme coin community, named after Elon Musk’s famed Shiba Inu, aiming to blend cryptocurrency with popular culture. Unlike many fleeting crypto projects, FLOKI presents a more curated approach, attempting to establish a tangible ecosystem that includes NFTs, games, and a dedicated marketplace.

This alignment with cultural phenomena helps to secure its place not just within the crypto space but also in mainstream discussions, enhancing its appeal and adoption. In the past week, FLOKI has seen an impressive 42.29% increase in its price, propelling its market cap to a robust $1.86 billion.

After getting listed on Revolut, FLOKI is now available to be purchased directly from the Revolut app. The platform will allow traders to buy the altcoin with 25+ fiat currencies including GBP, EUR, USD, and more.

Pepe (PEPE) Pumps Another 5% – Sees a Total of 38.4% Surge In a Week

Pepe coin (PEPE), inspired by the internet meme “Pepe the Frog,” has evolved into more than just a humorous or satirical crypto asset. It’s forging a unique identity in the blockchain sector, emphasizing community-driven growth and transparent transactions.

With a design that encourages participation and reward, PEPE is slowly carving a niche that supports a decentralized finance (DeFi) framework and broader financial inclusivity. Over the past week, PEPE’s value soared by 39.36%, pushing its market cap to $2.89 billion through an increase of 5.75%.

This growth highlights its acceptance and viability as a digital asset and shows the increasing trust and enthusiasm of its community and investors. Such trends provide a strong foundation for PEPE’s future, hinting at its potential to break away from the typical volatility associated with meme coins.

DTX Exchange Makes Waves After Bitcoin Halving: Hits a Historic $325,000 Presale

As meme coins like PEPE and FLOKI are showing a positive outlook, another strong competitor is entering the competition, DTX Exchange. This platform is not merely a marketplace but a frontier of crypto innovation, facilitating the trade of digital assets alongside forex, equities, and CFDs with unmatched leverage options.

DTX stands out with its bold offering of 1000X leverage and a non-custodial wallet system, ensuring that traders can operate with huge potential for high returns without compromising security. The recent presale success shows market confidence by raising over $100,000 in just two days and a staggering $2 million in the private seed round.

DTX Exchange Draws Investors with Its Mind-Blowing Trading Features

As the platform progresses to its second presale stage with tokens priced at $0.075, the future looks promising. The integration of distributed liquidity pools and the absence of KYC requirements further position DTX as a beacon for traders seeking flexibility and anonymity.

In times of innovation and rapid growth, both the meme coins and DTX are set to redefine their respective arenas. While PEPE and FLOKI continue to capture and expand their communities, DTX is poised to become a pivotal player in the trading space, offering tools and features that could potentially set new standards in the industry.

 Learn more:

Visit DTX Presale

Read Whitepaper

Join The DTX Community

The post PEPE and FLOKI Price Boosts, DTX Exchange Mind-Blowing $325,000 Presale Eclipses Meme Run appeared first on Blockonomi.

In a world where digital currencies are revolutionizing financial operations, several new crypto projects are emerging, promising a wide variety of advantages. Among them is an Ethereum-based platform, ETFSwap (ETFS).

Based on its vision, unique infrastructure, and presale that is selling out fast, ETFSwap (ETFS) is tipped to outdo seasoned competitors Uniswap (UNI) and Raydium (RAY) by the last quarter of this year.

Can Uniswap (UNI) Sustain The Uptrend?

Uniswap (UNI), a leading decentralized finance (DeFi) platform, is currently dominating the decentralized exchange (DEX) space. The platform was created to enable peer-to-peer (P2P) market-making, allowing users to buy and invest in cryptocurrencies without the involvement of a centralized third party.

Uniswap (UNI) is experiencing an uptick in its price, and this current price increase could be due to the recently launched limit orders with no gas fee. This upgrade was made to improve user experience.

After an in-depth analysis by well-known crypto analyst Ali Martinez, he spotted a buy signal on the Uniswap (UNI) price chart, suggesting a potential upswing that may see Uniswap (UNI) hit $10 in the next few days.

However, despite the price spike, concerns linger within the Uniswap (UNI) community, as it is rumoured that Uniswap Labs faces a potential lawsuit from the SEC. Likewise, Uniswap’s (UNI) dominance in the DeFi sector has been challenged by inventive projects like ETFSwap (ETFS).

A recent report suggests that bots now represent a significant portion of trading activity on Uniswap (UNI) and might be the dealbreaker for many Uniswap (UNI) investors.

Raydium (RAY) Price Prediction

Raydium (RAY) is an automated market maker (AMM) and liquidity provider built on the Solana blockchain. Users can swap, buy, invest, and provide liquidity to earn yield on digital assets. However, unlike regular AMM platforms, Raydium’s (RAY) AMM provides on-chain liquidity to OpenBook’s central limit order book, suggesting that Raydium’s users and investors can access serum’s entire order flow and liquidity.

Over the past year, the AMM guru saw a remarkable transformation in its market activity, although summed up by significant price fluctuations. According to data on CoinMarketCap, Raydium (RAY) is valued at $1.76, reflecting a 2.1% increase in the last 24 hours. The total circulating supply of Raydium (RAY) at the time of press is 262,745,806, with a market cap of $462,260,106.

The Raydium (RAY) community is determined to push for a sustained price uptrend; however, the unique playing field offered by the new DeFi, ETFSwap (ETFS), may be a hindrance.

Ethereum-Based ETFSwap (ETFS) Outshines Competitors

 There’s good news for the decentralized finance (DeFi) sector, as ETFSwap (ETFS), a new player, is set to transform the way tokenized assets are traded. The innovative platform bridges the gap between the centralized world of exchange-traded Funds (ETFs) and the decentralized ethos of DeFi inside its unique ecosystem.

At a time when Real-World Assets (RWA) are gaining momentum, ETFSwap (ETFS) is at the forefront, offering users and investors a platform to buy, trade, and invest in a wide range of tokenized assets. Investors can purchase and trade fixed-income Funds, commodity ETFs, and leveraged ETFs, with the added advantage that RWAs are quite resistant to the crypto market’s volatility.

ETFSwaps (ETFS) also seamlessly leverages the potential of blockchain technology to provide fast, transparent, secure, and efficient trading services. This allows it to operate on a trusted network, enabling transparency, unalterableness of data, and decentralized governance. In the same manner, intermediaries and regulated bodies are snuffed out, as no KYC is needed for ETFSwap (ETFS) users and investors to invest in ETFs.

Investors can also be assured of the safety of their assets, as the ETFSwap (ETFS) platform is designed with users’ safety in mind. Consequently, its smart contracts have undergone critical auditing by Cyberscope, a top blockchain cybersecurity firm. The results reaffirm ETFSwap’s (ETFS) stance on prioritizing assets’ security, as no security flaws were found in the contract.

Additionally, investors are able to increase their profit margins on ETFSwap (ETFS) with the 10x trade leverage feature.

ETFS is ETFSwap’s native token, which powers the ecosystem and provides trading access. The tokenomics is designed to drive the ecosystem and nurture a community of people who are invested in the project’s growth.

As a result, 4% has been allocated to the community to reward them for participating in activities. Likewise, a substantial portion, 40% to be precise, is reserved for public sale. This will grant enthusiasts who believe in ETFSwap’s (ETFS) vision an opportunity to participate early and acquire mouthwatering returns.

With its rapid adoption, the ETFSwap (ETFS) presale has caused a frenzy in the crypto community. Currently, in its stage 1 presale, the highly-rated project has sold over 21.6 million tokens, selling out faster than expected at a price of $0.00854.

With stage 2 of the presale poised to sell for $0.01831, early investors are set to acquire an easy return of over 100% on their invested amounts even before the token launches on centralized and decentralized exchanges.

For more information about the ETFS Presale:

 Visit ETFSwap Presale

Join The ETFSwap Community

The post Ethereum-Based ETFSwap (ETFS) Set To Overtake Uniswap (UNI) And Raydium (RAY) appeared first on Blockonomi.

The race for the approval of a Spot Ethereum ETF in the United States has taken another turn, with the Securities and Exchange Commission (SEC) delaying its decision on applications from leading asset managers Grayscale Investments and Franklin Templeton.

TLDR

Grayscale filed Form S-3 with the SEC for its Spot Ethereum ETF application, aiming to convert its Ethereum Trust (ETHE) into a Spot Ethereum ETF.

Grayscale also filed an S-1 filing for a mini Ethereum ETF, following a similar move for a mini Bitcoin ETF.

The SEC delayed its decision on Grayscale’s and Franklin Templeton’s Spot Ethereum ETF applications until June 23 and June 11, respectively.

The SEC cited the need for more time to consider the proposed rule changes and the issues raised therein.

Analysts express pessimism about the SEC’s approval of Spot Ethereum ETFs, with concerns over Ethereum’s staking feature and the SEC Chair’s stance on crypto assets as securities.

Grayscale, a prominent player in the crypto space, has been actively pursuing the conversion of its Ethereum Trust (ETHE) into a Spot Ethereum ETF. In a significant move, the company filed Form S-3 with the SEC, a crucial step in its strategy to gain approval for its Spot Ethereum ETF application. By submitting this form, Grayscale positions itself with the necessary documentation for the SEC to consider its proposal.

Grayscale has filed an S-1 filing for a mini Ethereum ETF, marked by the ticker “ETH.” This follows a similar move in March when the asset manager submitted an S-1 filing for a mini Bitcoin ETF, under the ticker “BTC,” which is still pending SEC approval.

Today, we filed a registration statement on Form S-3 to register shares of Grayscale Ethereum Trust (OTCQX: $ETHE) under the Securities Act of 1933. This is another important step toward uplisting ETHE as an ETF*. (1/6) pic.twitter.com/Siy0fUkXTl

— Grayscale (@Grayscale) April 23, 2024

Grayscale’s efforts extend beyond regulatory filings, as the company is also actively pursuing the listing of its Ethereum Trust on the NYSE Arca exchange as a Spot Ethereum ETF. This involves NYSE Arca’s filing of Form 19b-4, complemented by Grayscale’s Form S-3 submission. If approved, the Ethereum Trust shares would trade under the ticker symbol “ETHE,” with ongoing share issuance contingent upon NYSE Arca’s application effectiveness and Form S-3 registration.

However, despite Grayscale’s proactive approach, the SEC has delayed decisions on applications from both Grayscale and Franklin Templeton. The regulator cited the need for more time to consider the proposed rule changes and the issues raised therein, pushing the deadline for Grayscale’s application to June 23 and Franklin Templeton’s to June 11.

This delay has fueled speculation and sentiment among industry players, with some expressing concerns over the lack of substantial engagement from the SEC staff. They interpret this as a potential precursor to denial on the looming deadlines. While some issuers remain hopeful, citing similarities between Ethereum and Bitcoin ETF circumstances, others are less optimistic.

The SEC is again dragging its feet on Ethereum ETF proposals, delaying decisions on applications from both Grayscale and Franklin Templeton. Click to read: https://t.co/Sm6dvEodSO

— Decrypt ???? (@decryptmedia) April 23, 2024

Critics point to unresolved issues surrounding Ethereum’s staking feature, suggesting that these complexities could hinder approval. There is also speculation about SEC Chairman Gary Gensler’s stance, as some believe he would not approve the Spot Ethereum ETFs and may find new grounds for denial, potentially leading to a renewed lawsuit from Grayscale, similar to the legal battle over Spot Bitcoin ETFs.

Analysts at investment bank JP Morgan estimate that there is less than a 50% chance that a Spot Ethereum ETF will be approved by the May deadline. This cautious outlook reflects the SEC’s determination to thoroughly examine the submitted files to ensure adequate protection of investors’ interests.

While Bitcoin ETFs have already made their entrance on the American markets, their Ethereum counterparts are still awaiting their turn. The SEC’s decision, whether positive or negative, will undoubtedly have a significant impact on the cryptocurrency industry and the democratization of these digital assets to the general public.

The post Spot Ethereum ETF Proposals Face Extended Review by SEC appeared first on Blockonomi.

The Worldcoin project, a cryptocurrency initiative aiming to create a global financial network based on digital identities, has been making strategic moves to address privacy concerns and strengthen government relations. Recently, Sam Altman and Alex Blania, the main proponents of Worldcoin, met with Malaysian leaders, including the nation’s Prime Minister Anwar Ibrahim, as part of their efforts to bolster ties with governments worldwide.

TLDR

Sam Altman and Alex Blania, the main proponents of the Worldcoin project, met with Malaysian officials, including the Prime Minister, to improve government relations.

Worldcoin has faced scrutiny from regulators in several countries over privacy concerns surrounding its iris-scanning technology and data collection practices.

The project has implemented measures like “Personal Custody” and allowing users to request deletion of their iris codes to address privacy issues.

Worldcoin is aiming to demonstrate its commitment to protecting user privacy and personal data while seeking to expand its operations globally.

Ethereum co-founder Vitalik Buterin acknowledged Worldcoin’s efforts to improve data privacy and security through cryptographic measures.

Worldcoin’s approach to verifying user identities through iris-scanning technology has faced scrutiny from regulators in several countries over privacy concerns and data collection practices. The project offers users WLD tokens, its native cryptocurrency, in exchange for having their eyeballs scanned to create a “World ID.” This process has raised concerns among privacy advocates about how Worldcoin manages the biometric data it collects.

To address these concerns, Worldcoin has implemented a series of measures designed to demonstrate its commitment to protecting user privacy and personal data. In March, the project rolled out “Personal Custody,” an initiative that allows new World ID signups to opt out of having their biometric data stored and encrypted by Worldcoin. Additionally, the project announced that existing World ID holders could request the permanent deletion of their iris codes, further enhancing user control over their personal information.

Exciting discussions today as we met with Nordstar and its impressive lineup of portfolio companies including Nothing, Airwallex, and Worldcoin.

The meeting was attended by YB Tuan Gobind Singh Deo, Minister of Digital; YBrs. Tuan Ma Sivanesan, pic.twitter.com/GOpn6L6qmR

— Malaysia Digital Economy Corporation (@mymdec) April 23, 2024

These measures were developed in consultation with third-party privacy and security experts and were based on preliminary assessments and questions raised by data protection authorities in various regions where Worldcoin operates. The project has also stated its intention to take age verification more seriously to prevent minors from signing up.

Worldcoin’s recent meetings with Malaysian officials, including the Deputy General Secretary of the Ministry of Digital, the CEO of the Malaysia Digital Economy Corporation, and the Director General of the Department of Personal Data Protection, highlight its efforts to engage with governments and address regulatory concerns.

During the virtual meeting with Prime Minister Anwar Ibrahim, Altman and Blania discussed the development of the Worldcoin project and its focus on creating an inclusive financial network while prioritizing user privacy and data protection. The discussions explored potential collaboration opportunities, including the strategic expansion of Worldcoin’s operations into Malaysia.

Thank you @anwaribrahim for meeting with @sama, @OleRuch, and me. It was a great honor! https://t.co/eRUmV18Ved

— Alex Blania (@alexblania) April 23, 2024

Vitalik Buterin, the co-founder of Ethereum, recently acknowledged Worldcoin’s efforts to secure user data privacy, recognizing the improvements made by the project.

Buterin stated that Worldcoin has been “doing quite a good job of taking the privacy critiques seriously and designing their system to be more and more data-minimal.”

As the adoption of blockchain technology and cryptocurrencies continues to grow, projects like Worldcoin face the challenge of balancing innovation with regulatory compliance and user privacy concerns. By engaging with governments, implementing privacy-focused measures, and seeking guidance from experts, Worldcoin aims to navigate these challenges and establish itself as a responsible and trustworthy player in the crypto space.

The post Worldcoin Executives Discuss Privacy and Expansion with Malaysian Officials appeared first on Blockonomi.

A year from now, the people who invested in BEFE coin today will be said to be fortunate for investing in a million-dollar idea. Well, that is the kind of praise that people who plan for the future respectfully well within the time. Many people still don’t know about the BEFE coin and will want to learn more about it.

The BEFE coin is an outstanding move to combine the meme community of cryptocurrencies with utility tokens. The BEFE coin has pivoted to be on the utility side as well and this proves that the meme currencies can be used for multiple other cases as well. The BEFE coin is probably the first one in their fields.

Let’s find out more about the BEFE coin and how it becomes profitable for the users.

The Specialty of BEFE Coin 

The BEFE coin is growing to be one of the fastest tokens to touch the $1 mark in the market. BEFE coin was initially launched in the crypto market to be a utility token and support multiple starting crypto projects. Making it clear to the audience, the BEFE coin announced that the token will be going on phase 5 transformation and that too with the help of the Sala chain.

The BEFE coin has been growing at a rate of more than 20% per month and that too at a time when the market is going through correction and getting the people to bowl. The actual growth rate of the market is much higher but the small changes in the economy also affect the BEFE coin investors.

The BEFE coin has compatibility with the EVM as well for making smart contracts on the chain quite easily adaptable. In many cases, the BEFE coin has been connected with utility and staking as well. The BEFE coin is rewarded to the users who make use of the Bitgert chain some days.

The Market Performance of BEFE Coin 

The market has been considerably kinder to the BEFE coin. The BEFE coin was introduced to the crypto market, and there was surprisingly no competition to the BEFE coin. And then the bull run at the beginning of the year made it possible for people to easily cross the road and reach the exact location in less time.

The BEFE coin is already growing at an average rate of 20% for the last few weeks. This growth is fueled by the fact that people want the crypto market to grow faster than any other market. Multiple exchanges have already accepted the listing of BEFE coins on them.

The BEFE coin has a great greed & feed ratio along with a good moving average as well. The volatility rate of the BEFE coin is quite low as well, making it a great option for early investors. The RSI score, MACD value, etc. for the BEFE coin suggest that the token may have a huge market capitalization soon.

Conclusion 

The BEFE coin is going to grow at a faster rate than the exchanges themselves. The BEFE coin investors can be sure that their money will grow into thousands of dollars or even a million dollars soon. The BEFE coin may soon touch the price of $1 in the market for providing explosive returns to the investors in the coin. So, if you are one of the people who want to invest, then this is the time that will be the best for it.

The post The BEFE Coin Jackpot: Turning $100 into a Million-Dollar Fortune appeared first on Blockonomi.

The emergence of Bitgert has taken so many top cryptocurrencies by surprise considering the massive uptrends it has gotten and amazing returns it has given to investors since its emergence into the crypto market. 

This has incredibly made strides in its offer, with numerous experts and traders seeing it as an opportunity to utilize for the future. Moreover, experts are forecasting this month to be an explosive month for bitgert coin Price.

The appealing nature of Bitgert is as a result of what it offers financial specialists. The venture is built on an establishment that cultivates investors’ satisfaction and this has brought about the driving constraint for the fast-rising development it is attaining. 

As a result of its radiant offerings, it has become a target to purchase for individuals of the crypto community with numerous looking to appreciate its possibilities which ensures monetary opportunity.

BITGERT: Bringing Thriving To Investors In The Crypto World This Month 

Bitgert, having surged so high, has brought about innovative resources and made it available to investors who are willing to contribute to its success and invest for long term benefits. Bitgert is reducing the prevention of investors into certain areas of the crypto blockchain, whereas making gigantic openings for development. 

In today’s crypto world Bitgert has been a driving drive to the victory of genuine blockchains. Bitgert is setting the standard for another era, which will see its price surge high this month as it makes for more promising features. 

Bitgert’s inventive crave has seen it set up a part of openings for traders to capitalize on and broaden their portfolio for a promising future. Bitgert is adapting towards an effective stage, permitting its investors to appreciate the potential of its genuineness, thereby creating a hike in its price. 

Utility Of BITGERT, Giving A Positive Insight To A Rise In Its Coin 

Contrasted with other cryptocurrencies, strengthened by the exposure and potential investors feeling, Bitgert is maintained with utilities which goes around as a trigger to offer assistance in the advancement of its coin. 

With so much stock in hand, it has grasped a commanding instrument which has led to  an intriguing increase in its price. The resultant effect of this is a regular upturn. 

The Bitgert team has been instrumental in its advancement. Potential investors can presently stake in the organization and get returns thus, provoking a commonly useful course of action. Potential investors moreover have basic permission to Bitgert commitments counting zero gas cost and unmatched flexibility. This has caused a rise in its coin and exchange expansion.

Conclusion 

The bitgert coin is making an upward movement signal, we should be seeing a massive uptrend in its price this month as we approach the bull run. It’s best to get in on it and enjoy the benefits.

DYOR by checking out their website 

The post The Price is Right: Bitgert Coin Could See Explosive Growth This Month appeared first on Blockonomi.