The recent incident involving the Linea blockchain is about the ongoing challenges and slow pace of decentralization in Ethereum’s Layer 2 (L2) solutions. Linea’s decision to stop its sequencer after a hack stresses the urgent need for L2 firms to prioritize decentralization.

Key Points Table

Aspect Details Incident Date June 2 Stolen Amount Over $2.6 million (700 ETH) Hacker Target Velocore DEX Sequencer Pause Blocks 5081800 to 5081801 Key Figures Alex Gluchowski, Declan Fox Future Goals Decentralize Linea, Increase TVL to $3 billion Current TVL $1.2 billion Consensys Launch August 2023 Current Partners Over 50 Ether Bridged Over $26 million

The Incident

On June 2, over $2.6 million worth of Ether (ETH) was stolen from Linea, which was launched by Consensys. The hacker exploited Velocore, a decentralized exchange (DEX) based on Linea. This prompted Linea to pause and block production temporarily to prevent more funds from being bridged out. This incident was reported by Linea in a post on X (formerly Twitter).

Reactions to the Halt

According to Alex Gluchowski, CEO of Matter Labs, this decentralization is highly important. Gluchowski stated that decentralizing the sequencer is not optional and that all serious L2 solutions must prioritize it. Declan Fox, Linea’s product lead, agreed with Gluchowski. He mentioned that Linea is on a solid path to decentralization.

Linea’s Future Plans

Linea launched a campaign in April called “The Linea Voyage: Surge”. Its goal is to increase the total value locked (TVL) on Linea to $3 billion. Currently, about $1.2 billion is locked on the blockchain. Despite the recent hack, Linea continues to push forward with its plans.

The Decision to Halt

The Linea team described stopping the sequencer as a “last resort” to prevent further loss of funds. Hexagate, a cybersecurity firm, alerted Linea to the hack and helped trace the stolen funds and identify the exploiter’s addresses. Due to the time zone difference, Linea could not contact Velocore immediately. The sequencer was paused between blocks 5081800 and 5081801.

Decentralization Challenges

Most Ethereum Layer 2 solutions, including Linea, are still in the early stages of decentralization. These “training wheels” phases allow for certain safeguards, like halting the sequencer, to be used in emergencies. However, decentralizing these components is crucial to prevent single points of failure.

Velocore’s Response

Velocore is collaborating with external networks to reimburse the affected users. Linea reassured its users that the network remains safe and secure despite the incident.

Consensys and Linea

In August 2023 Consensys launched Linea. It onboarded over 50 partners and linked more than $26 million in Ether. Despite this progress, Linea, like many other L2 solutions, remains largely centralized.

The State of Ethereum L2 Solutions

The decentralization of L2 solutions is a work in progress. For instance, Coinbase’s Layer 2 solution, Base, is currently centralized with Coinbase as the sole sequencer. However, Coinbase has also expressed its intention to decentralize Base over time.

Key Points to Remember

Incident: Over $2.6 million was stolen from Linea via a hack on Velocore DEX.

Response: Linea halted the sequencer to prevent further losses.

Decentralization: Emphasized as crucial by industry leaders.

Future Plans: Linea aims to decentralize and increase its TVL to $3 billion.

Current State: Most L2 solutions, including Linea, remain centralized.

The incident with Linea underscores the critical need for rapid decentralization of Ethereum Layer 2 solutions. While immediate measures like halting the sequencer can mitigate damage, long-term security and reliability hinge on decentralizing the network.

When spot Ethereum ETFs were approved, it was a significant step for crypto policy. However, the SEC might have done themselves a counter favor since this move could undermine the SEC’s ongoing crypto crackdown.

 

Approval of Ethereum ETFs

As the deadline to approve Ethereum ETFs approached, a bipartisan group of House Representatives were in a hurry. They urged SEC Chair Gary Gensler to approve the funds and consider other digital asset ETFs in the future. Finally, the SEC announced approval of eight spot Ethereum ETF applications.

 

Implications for Ethereum and Regulation

According to Coinbase’s Chief Legal Officer, Paul Grewal, the SEC’s approval means that Ethereum (ETH) is a commodity. If correct, ETH would fall under the Commodity Futures Trading Commission (CFTC) oversight, not the SEC, which regulates securities.

This distinction is crucial. The SEC focuses on policing securities and protecting investors. The CFTC regulates commodities like raw materials, focusing on preventing market manipulation and fraud. The CFTC’s regulatory framework is generally less stringent strict than the SEC’s.

 

Ongoing Jurisdiction Debate

As digital assets gain mass adoption, there’s an ongoing debate over which federal agency should regulate them. In 2021, former CFTC Commissioner Dawn Stump highlighted this issue in the XRP SEC enforcement action case. The Ethereum ETF approval might bring the regulatory clarity the sector needs. If ETH and similar cryptocurrencies are not securities, the SEC lacks jurisdiction under the Securities Act of 1933 and the Securities Exchange Act of 1934.

This means the SEC can no longer argue that these tokens are investment contracts under the Howey Test. If ETH and similar tokens are commodities, crypto lawyers could argue they aren’t investment contracts with an “expectation of profits from the efforts of others”—a critical element the SEC must prove under the Howey Test.

 

Potential Impact on Pending Cases

By acknowledging Ethereum as a commodity, the SEC may have undermined its legal arguments in pending crypto enforcement cases. If courts agree that ETH and similar cryptocurrencies are commodities, this could affect lawsuits against major crypto platforms like Coinbase and Kraken. These lawsuits hinge on the SEC’s argument that certain tokens traded on these platforms are securities. If they are commodities, it could lead to dismissals of SEC lawsuits against Coinbase and Kraken.

Broader Implications

A favorable court ruling could weaken SEC Chair Gary Gensler’s regulatory approach, which critics argue suppresses digital asset innovation in the U.S. and pushes it overseas. As Paul Grewal noted, the SEC’s approval suggests that ETH sales aren’t securities because Ethereum ETFs can be registered with an S-1, much like Bitcoin.

The SEC’s approval of Ethereum ETFs could limit its power to police the crypto sector aggressively. This decision might embolden players in the digital asset sector to push back against enforcement actions, leading to more court battles and fewer settlements.

 

Long-Term Effects

Clarity on whether ETH is a security or commodity could reduce the SEC’s jurisdiction over Ethereum and similar cryptocurrencies. This could narrow the SEC’s regulatory reach in the digital asset sector. Crypto lawyers will likely use the ETF decision to challenge pending SEC actions, arguing the agency has overstepped its mandate.

If more digital assets are treated as commodities, Congress might pass laws to limit the SEC’s reach. This could subject these tokens to less stringent regulation under the CFTC, creating fewer regulatory hurdles for crypto startups and fostering innovation.

 

Legal and Regulatory Clarity

The ETF decision might lead to new strategies for advising clients in the digital asset space. Lawyers might emphasize the commodity nature of tokens to shield clients from SEC oversight.

Successful dismissals of SEC lawsuits against Coinbase and Kraken based on the ETF decision could set favorable legal precedents. This would influence future digital asset regulation and promote blockchain innovation in the U.S.

A clear regulatory environment benefits investigators and lawyers in both the SEC and CFTC by providing a stable framework. This would lead to more efficient use of resources and more consistent outcomes in digital asset cases.

Crypto lawyers play a vital role in the growth and adoption of crypto technology in the U.S. The Ethereum ETF decision empowers them to better advise and navigate clients in the digital asset sector, fostering further innovation.

Polkadot (DOT) becomes the most decentralized blockchain, but its price action continues to remain bearish.

DOT’s price chart remained red, but there were chances of a trend reversal.

Polkadot [DOT] recently reached a new milestone that reflected the reliability of transparency on the blockchain. Though this achievement was commendable, it didn’t have a positive impact on the token’s price as its daily and weekly charts were painted red. 

Polkadot’s New Milestone

Polkadot Insider, a popular X handle that posts updates related to the blockchain’s ecosystem, revealed that DOT ranked #1 on the list of blockchains by average Nakamoto coefficient.

TOP 10 BLOCKCHAINS BY THE AVERAGE NAKAMOTO COEFFICIENTS

The Nakamoto Coefficient presents the minimum entities needed to control one-third of the stake

The higher the Nakamoto Coefficient on a network, the more decentralized a blockchain, which means the more resilient the… pic.twitter.com/izKlRSWeYx

— Polkadot Insider (@PolkadotInsider) May 31, 2024

For starters, the Nakamoto Coefficient presents the minimum entities needed to control one-third of the stake. The higher the Nakamoto coefficient on a blockchain, the more decentralized it is.

Apart from this, Polkadot’s performance on the development front also remained commendable throughout the last week.

Bitcoinworld’s look at Santiment’s data revealed that DOT’s development activity surged sharply. On top of that, the blockchain’s dev activity contributor count also increased multiple times over the past seven days.

DOT Under Bears’ Influence 

However, none of this was enough to get rid of the bears, as the token’s price dropped last week.

According to CoinStats, DOT’s price has dropped by 1% in the last seven days. At the time of writing, Polkafot was trading at $6.99 with a market capitalization of over $10 billion.

A major reason behind this sluggish performance could be the current market condition, which has caused several coins’ graphs to turn red.

Apart from that, AMBCrypto found that DOT’s funding rate increased last week. Generally, prices tend to move in the opposite direction from the funding rate.

Nonetheless, things might change soon as investors’ confidence in the token improves slightly.

Bitcoinworld’’s analysis of Santiment’s data revealed that after a drop on the 28th of May, DOT’s weighted sentiment once again went into the positive zone.

This meant that bullish sentiment around the token increased. But, its social volume declined, reflecting a decline in popularity.

The chances of a trend reversal also seemed likely, as a key technical indicator looked bullish.

Polkadot’s Chaikin Money Flow (CMF) registered an uptick from the neutral mark. At press time, it had a value of 0.06, hinting at a price increase soon. But the Relative Strength Index (RSI) remained bearish as it went southward. 

Bitcoinworld’ then analyzed Hyblock Capital’s data to look for possible targets if DOT’s price action turns bullish. As per our analysis, if DOT turns bullish, investors might witness it go above $7 once again as liquidation would rise to $7.5.

However, if that doesn’t happen, then DOT’s price might plummet to its support level of $6.92.

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

A new token connected to a viral game on the encrypted messaging platform Telegram, Notcoin (NOT) printed fresh all-time highs this week after surging by nearly 160%.

NOT is a community token for the popular Telegram-based tap-to-earn mining game Notcoin that began trading on May 16th when Binance rolled out support for the asset via its Launchpool platform, which lets users stake coins to farm new assets.

Notcoin says it already has more than 1.6 million on-chain holders, more than the memecoins Shiba Inu (SHIB), Bonk (BONK) and Pepe (PEPE).

The token is issued on The Open Network (TON) blockchain, which was initially developed by Telegram. 

The messaging platform parted ways with the chain in 2020 following a legal battle with the U.S. Securities and Exchange Commission (SEC).

The Open Network, an open-source community of developers, took over management of the technology that year.

TON, however, can still be sent by Telegram’s 700 million users within the platform without entering long wallet addresses.

The 80th-ranked crypto asset by market cap is trading at $0.0127 at time of writing, up from $0.00489 seven days ago.

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

All unlicensed crypto exchanges will no longer be permitted to offer services within Hong Kong.

The grace period for unregistered crypto exchanges in Hong Kong has expired.

The Hong Kong SFC has outlined the list of unauthorized platforms.

Compliance standards across the region are tightening.

Crypto regulations in Hong Kong are undergoing an overhaul as the region’s financial watchdog tightens oversight on service providers. 

In February 2024, the commission mandated that all exchanges seeking to operate within the region acquire official operational licenses or risk shutdown.

With the grace period ending in May, the commission now requires unlicensed entities to cease operations.

Unlicensed Crypto Firms To Exit Hong Kong

As of Friday, May 31, 2024, the deadline has expired for exchanges in Hong Kong to operate in Hong Kong without the necessary licenses or exit the market.

The expiration mandates that all unlicensed exchanges, including those with refused or withdrawn license applications, cease operations within the region, except for activities solely related to winding down their businesses.

“During the closing down period, these platform operators are not allowed to provide their services except when such an act is done solely for the purpose of closing down their businesses,” the website read.

The impacted exchanges include Bybit, GateHK, OKX, Huobi Hk, among others. These exchanges are also required to cease all promotional activities to investors within the region, effective immediately. The SFC is also tightening regulations for license applicants 

Hong Kong Tightens Regulatory Scrutiny

According to a recently released statement, the SFC will require deemed-to-be-licensed VATP applicants in Hong Kong to fully comply with several pre-licensing conditions.

These include engaging external assessors to review the effectiveness of their systems, as well as welcoming authorized officials for physical screenings and inspections to ensure compliance with regional regulatory standards.

“The SFC will conduct on-site inspections to ascertain their compliance with the SFC’s regulatory requirements, with a particular focus on their safeguarding of client assets and know-your-client processes,” stated the commission.

Additionally, if the commission deems it necessary, it may refuse licenses to such crypto service providers, requiring them to wind down operations and exit the Hong Kong market.

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

President Biden has followed through on a promise to veto SEC-related crypto bill that recently passed the House and Senate to eliminate controversial SEC crypto policy.

The bill would have reversed guidance from the SEC that says certain companies should label crypto assets as liabilities on their balance sheet, even if they are simply holding the assets on behalf of customers.

In a letter to the House of Representatives, President Biden says the removal of the guidance would hinder the SEC’s ability to implement safeguards and protect investors.

“SAB 121 reflects considered technical SEC staff views regarding the accounting obligations of certain firms that safeguard crypto-assets. By virtue of invoking the Congressional Review Act, this Republican-led resolution would inappropriately constrain the SEC’s ability to set forth appropriate guardrails and address future issues.

This reversal of the considered judgment of SEC staff in this way risks undercutting the SEC’s broader authorities regarding accounting practices. My Administration will not support measures that jeopardize the well-being of consumers and investors.

Appropriate guardrails that protect consumers and investors are necessary to harness the potential benefits and opportunities of crypto-asset innovation. My Administration is eager to work with the Congress to ensure a comprehensive and balanced regulatory framework for digital assets, building on existing authorities, which will promote the responsible development of digital assets and payment innovation and help reinforce United States leadership in the global financial system.”

The Republican-led legislation passed the House in a 228 to 182 vote, with 21 Democrats on board. It passed the Senate 60 to 38, with eleven Democrats supporting the legislation.

President Biden’s veto comes with Bitcoin and crypto in both the political and regulatory spotlight.

Former President Trump began accepting donations in crypto last week, vowing to support the industry and investors’ rights to self-custody their assets.

Meanwhile, the SEC abruptly reversed course on Ethereum ETFs, paving the way for their imminent launch.

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

In a recent filing, US-based cryptocurrency exchange Coinbase has made sharp accusations against the US Securities and Exchange Commission (SEC) and its chairman, Gary Gensler, claiming their actions aim to stifle the crypto sector. 

The filing comes amid an ongoing legal battle between Coinbase and the SEC, which alleges that the exchange engaged in unregistered sales of what the regulator calls “securities.”

Coinbase Challenges SEC’s ‘Inconsistent Legal Claims’ 

Coinbase’s Friday filing highlights the SEC’s increasing enforcement actions in recent months, suggesting a deliberate effort to undermine the digital asset industry. 

The exchange accuses the SEC of advancing “inconsistent and unsupportable” legal claims and of perpetuating an oppressive campaign against the industry. 

Coinbase contends that the SEC denies its duty to make compliance with its rules feasible, treating regulations as “weapons” to dismantle disfavored industries rather than enabling compliance with federal law.

Coinbase rebuffs the SEC’s arguments, asserting that rulemaking is required under settled law. The exchange accuses the SEC of attempting to effect a major policy change by asserting “unlawful” jurisdiction over the digital asset industry through punitive enforcement actions. 

The exchange further contends that the SEC’s assurance to digital asset firms to “come in and register” was a sham, as the agency’s recent brief indicates a shift in its stance on digital assets.

Ripple Effects Across Cryptocurrency Exchanges

The legal case between Coinbase and the SEC has gained significant attention. The regulator initially filed a suit in June, alleging that Coinbase acted as an “unregistered broker and exchange.” 

US District Judge Katherine Polk Failla ruled in favor of the SEC in March, stating that the transactions in question fell within the framework used by courts to identify securities. 

This ruling has implications for Coinbase and other major cryptocurrency exchanges like Binance. The SEC has filed a notice of Failla’s decision in its ongoing lawsuit against Binance, accusing it of unregistered offers and sales of crypto asset securities.

Overall, the clash between Coinbase and the SEC underscores the broader regulatory challenges the cryptocurrency industry faces. 

The lack of clear guidelines and rulemaking has created uncertainty and hindered the industry’s growth. 

Industry participants argue that a court order directing the SEC to commence rulemaking is necessary to bring clarity and stability to the digital asset sector.

As the legal battle continues, the outcome will most likely have far-reaching implications for Coinbase and the broader cryptocurrency industry. It will shape the regulatory landscape and determine the sector’s future trajectory in the US.

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Changpeng Zhao (CZ) started a four-month prison sentence for inadequate anti-money laundering measures and agreed to a $50 million fine.

Binance’s founder sentence was lighter than expected as part of a settlement, while he expressed regret in court.

According to CNBC, Changpeng Zhao, the former CEO of Binance, has begun his four-month sentence in a low-security federal prison in Lompoc, California.

Binance’s Founder Sentence Follows Guilty Plea and $50 Million Fine

Zhao, also known as CZ, pleaded guilty in November 2023 to violating the Bank Secrecy Act by failing to implement effective anti-money laundering procedures at Binance, the world’s largest cryptocurrency exchange.

In April, Zhao was sentenced to four months in prison, a significantly lighter sentence than the three years federal investigators sought. 

Binance’s founder sentence was suggested a prison term of 12 to 18 months by statements’ guidelines, but Zhao’s defense team, Latham & Watkins, had requested five months of probation. 

Zhao also agreed to pay a $50 million fine, while Binance was ordered to pay $4.3 billion.

Before his judgment, Zhao expressed remorse to the US District Judge Richard Jones, saying, “I believe the first step of taking responsibility is to fully recognize the mistakes. Here I failed to implement an adequate anti-money laundering program. … I realize now the seriousness of that mistake.”

The Opposing Positions of the Two Founders

Binance’s founder sentence is part of a settlement to resolve a lengthy US government investigation into Binance. 

As part of this agreement, Zhao stepped down as CEO but remains a significant shareholder with an estimated 90% stake in the company.

In contrast, FTX’s founder Sam Bankman-Fried, who did not strike a deal with the government, is serving a 25-year sentence after being convicted on all seven criminal counts related to securities fraud that led to the collapse of his cryptocurrency exchange and hedge fund, Alameda Research. 

Unlike Zhao, several of Bankman-Fried’s former associates, including Caroline Ellison, cooperated with journalists and raised concerns against him.

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Devil Biden (DEVBIDEN), a new Solana meme coin that was launched this week, is poised to explode over 14,000% in price in the coming days.

The Solana meme coin craze continues amid larger meme coins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.

Devil Biden (DEVBIDEN), a new Solana meme coin that was launched this week, is poised to explode over 14,000% in price in the coming days.

Currently, Devil Biden can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.

Early investors in SHIB and DOGE made astronomical returns, and Devil Biden could become the next viral memecoin.

In fact, many early Shiba Inu and Dogecoin investors have been pouring funds into this new Solana memecoin.

Devil Biden launched with over $6,000 of locked liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.

To buy Devil Biden on Raydium or Jupiter ahead of the KuCoin listing, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Devil Biden by entering its contract address – Hu1cFazfpaEFyJ3ETdotpTSBModCC4pJoCvVyLNiTKm7 – in the receiving field.

In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these meme coins went viral and exploded in price.

If this happens, a new wave of meme coin millionaires could be created in a matter of weeks – or potentially even sooner.

The Solana meme coin craze continues amid larger meme coins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.

This is why many SHIB, DOGE and WIF investors are instead investing in new Solana meme coins, like DEVBIDEN.

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Port Charlotte, United States, June 2nd, 2024, Chainwire

TrumpCrypto.io announces the launch of the $TRUMP Coin Initial Coin Offering (ICO), a cryptocurrency designed to merge digital innovation with tangible real-world benefits. With a total supply of 8,000,000,000 tokens and a pre-sale price of 0.016 USDT per token, $TRUMP Coin aims to offer practical applications and support meaningful causes.

Features of $TRUMP Coin

Comprehensive Ecosystem: $TRUMP Coin is an ERC-20 token on the Ethereum network, designed to create a dynamic ecosystem with real-world applications.

Charitable Contributions: In commitment to social responsibility, 10% of the total project profits are donated monthly to Disabled American Veterans. Additionally, a 0.25% burn fee on transactions is allocated to the Trump National Committee Joint Fundraising Committee.

Merch Store Integration: Holders can use $TRUMP Coin to purchase products from the upcoming exclusive Merch Store, including clothing, digital artwork, and other merchandise, ensuring immediate utility.

Loyalty Rewards: Long-term holders of $TRUMP Coin will benefit from a loyalty rewards program, offering discounts, early access to new products, and special promotions.

Tokenomics and Pre-Sale Details

Total Supply: 8,000,000,000 $TRUMP tokens

Pre-Sale Price: 0.016 USDT per $TRUMP token (+ Bonus)

Participation Details

$TRUMP Coin’s pre-sale terms offer early access to the project at an initial rate. The ICO is available to investors, technology enthusiasts, and the broader community, providing an opportunity to learn more about and potentially support this innovative venture.

For more information, visit trumpcrypto.io and review the comprehensive whitepaper.

About $TRUMP Coin

$TRUMP Coin is a cryptocurrency project dedicated to creating a stable, transparent, and efficient digital currency with a focus on real-world utility and philanthropic contributions. Their mission is to create a token that offers real-world use and a direct impact on events.

This press release is for informational purposes only and does not constitute investment advice or an offer to invest.

Contact

Kyle Nelson

Rav LLC

web3@trumpcrypto.io

BlockDAG’s Rise After Moon Keynote Launch, GameStop Stocks, & Elon Musk’s Favorite Dogecoin

In a remarkable twist, as GameStop’s shares soared, meme coins like Dogecoin followed suit, capitalizing on market sentiments. Dogecoin, leveraging its proof-of-work mechanism, recently confirmed a bullish trend on macro levels. Amidst this, BlockDAG distinguished itself with a groundbreaking keynote from the moon, underscoring its transparency and technological development strides. This standout event propelled its ongoing presale past $40.8 million and introduced the innovative X1 Miner app, setting a new standard in the layer-1 blockchain arena.

 

GameStop’s Stock and Dog-Themed Cryptos

On Tuesday, dog-themed cryptocurrencies like Floki (FLOKI) and dogwifhat (WIF) saw gains of up to 8% as GameStop shares surged over 19% in pre-market trading. Dogecoin (DOGE) and Bonk (BONK) also experienced increases of 2% and 5.5%, respectively. Furthermore, these meme tokens often respond to stock movements in companies like GameStop and AMC Entertainment, with some investors seeing these shifts as signs of market euphoria that can lead to speculative trading.

Moreover, in 2021, during the GameStop frenzy, similar spikes were observed in meme coins, suggesting a potential repeat if GameStop continues to attract retail investor interest. Additionally, a post by Keith Gill, known for his significant role in the 2021 GameStop short squeeze, led to a 30% jump in DOGE and FLOKI prices in early May. Gill, who famously turned $58,000 into around $50 million via GameStop options, had recently reactivated his influential social media account, sparking renewed interest in the stock.

Tesla Embraces Dogecoin

Dogecoin (DOGE) is witnessing a resurgence in interest, propelled by its proof-of-work protocol and high-profile endorsements, notably from Elon Musk. The cryptocurrency has amassed over 7.3 million holders, fostering a robust trading environment. Currently, DOGE is tracing an ascending triangle pattern on the charts, hinting at an impending bullish breakout. It currently faces slight resistance around $0.17, but if it can sustain closures above $0.175, it might escalate beyond the $0.20 mark. Significantly, Dogecoin’s recent adoption by Tesla for payments underscores its growing utility and could attract more institutional interest, potentially steering it towards greater market stability and investor confidence.

BlockDAG’s Moon Keynote Highlights a Stellar Rise in Blockchain Tech

BlockDAG’s recent keynote, delivered uniquely from the moon, marks a significant advancement for the layer-1 blockchain project, which has now successfully raised over $40.8 million in its ongoing presale, currently in its 16th batch at $0.0095 per coin. This event not only highlighted BlockDAG’s commitment to transparency and innovation but also showcased the introduction of the X1 Miner app, now available in beta on Android and Apple platforms.

The app includes features such as Wireframe & UI Designing, User Onboarding, and Presale functionality, with future updates planned to introduce Wallet, Send/Receive modules, a Leaderboard, and a Community Section. Consequently, the keynote underscored BlockDAG’s robust development updates, including over 45 updates accessible via their website and a user-friendly low-code/no-code ecosystem that simplifies the creation of utility tokens, meme tokens, and NFTs.

This strategy accelerates development timelines and broadens access to blockchain technology, supporting diverse new projects. With the mainnet launch on the horizon and backing from notable publications like Forbes and Bloomberg, BlockDAG is positioning itself as a formidable force in the crypto world, making it a compelling choice for potential investors and participants in the blockchain space.

The Bottom Line

As meme coins like Dogecoin ride the waves of broader financial trends, they signal the robustness of cryptocurrency interactions with traditional stock movements. Dogecoin, powered by its enduring proof-of-work system, showcases sustained growth trends.

In contrast, BlockDAG’s recent lunar keynote highlighted its innovative approach and emphasized its significant progress in fundraising and technological advancements. This has boosted its presale significantly and positioned BlockDAG as a leader in reshaping blockchain technology’s future, underpinning its commitment to revolutionizing the digital asset space.

Invest in the BlockDAG Presale Now:

Presale: https://purchase.blockdag.network

Website: https://blockdag.network

Telegram: https://t.me/blockDAGnetwork

Discord: https://discord.gg/Q7BxghMVyu

 

Telega.io, a pioneer in innovative Telegram advertising solutions, is excited to announce a significant upgrade to its payment options. The platform has integrated Notcoin as a payment method for advertising on Telegram, aiming to enhance the flexibility and accessibility of digital marketing campaigns. This integration offers advertisers a streamlined top-up page with a single button that directs them to a Telegram bot, allowing for effortless and efficient Notcoin wallet top-ups.

About Telega.io

Telega.io provides advertisers with a robust platform to connect with an extensive network of over 6,000 Telegram channels and groups, including 400 specialized channels focusing on cryptocurrency communities. Known for its creative strategies and exceptional customer service, Telega.io enables effective advertising within the dynamic Telegram ecosystem. With the integration of Notcoin and the convenient top-up option via the Telegram bot, advertisers can now manage their campaigns more seamlessly than ever before.

Notcoin: A Game Changer in Telegram Advertising

Introduced in 2024, Notcoin quickly gained traction within the Telegram community. Initially launched as a meme coin, it has evolved into a widely recognized digital currency. This transformation underscores Notcoin’s reliability and the growing trust in its utility. Notcoin is designed to facilitate smooth transactions, simplifying financial exchanges and mitigating the complexities often associated with traditional currencies. Its user-friendly architecture ensures that transactions are both swift and secure, making it a top choice for advertisers.

Advertisers looking to amplify their impact on Telegram will find Notcoin particularly advantageous. The cryptocurrency’s efficient transaction mechanism allows advertisers to concentrate more on their marketing strategies rather than the complexities of payment methods. Notcoin’s rapid transaction speeds and lower fees compared to traditional payment systems provide a significant edge, enabling advertisers to allocate their budgets more effectively and efficiently.

The Significance of Notcoin Integration

Telega.io‘s acceptance of Notcoin represents a major step forward in leveraging emerging financial technologies. By expanding the range of payment options available to advertisers, Telega.io aims to remain at the forefront of digital marketing innovation, providing advertisers with more effective tools to manage their advertising budgets and engage with global audiences.

How to Use Notcoin for Payments on Telega.io

A key feature of this integration is the introduction of a top-up page equipped with a button that directs advertisers to the Telegram bot. Here, advertisers can seamlessly top up their Notcoin wallets in just a few clicks. This user-friendly addition ensures that topping up Notcoin is both convenient and swift, streamlining the process to enhance overall efficiency. The simplicity of using the Telegram bot for wallet refills highlights the practicality and convenience of Notcoin as a payment method.

Commitment to Innovation

Telega.io’s initiative to integrate Notcoin reflects the company’s commitment to innovation and enhancing the advertising experience for its clients worldwide. This move underscores Telega.io’s dedication to providing cutting-edge solutions that simplify transactions and improve overall efficiency for advertisers.

In conclusion, the integration of Notcoin as a payment method on Telega.io marks a significant advancement in the world of Telegram advertising. By offering a more flexible, accessible, and efficient payment solution, Telega.io continues to support advertisers in optimizing their campaigns and reaching broader audiences. This innovative approach not only simplifies transactions but also enhances the overall user experience, solidifying Telega.io’s position as a leader in the digital marketing landscape.

Seychelles, Seychelles, June 3rd, 2024, Chainwire

 

Milady Meme Coin ($LADYS) has announced a significant US$5 million investment from DWF Labs. This investment marks a pivotal moment for $LADYS, positioning it for accelerated growth and innovation within the cryptocurrency landscape.

A New Era for Milady Meme Coin

With the infusion of capital from DWF Labs, $LADYS is poised to lead the next wave of innovation in the meme coins space. The collaboration between Milady Meme Coin and DWF Labs is expected to unlock new avenues for development, collaboration, and community engagement within the $LADYS and meme ecosystem.

Value-added Investment Partnership from DWF Labs

DWF Labs as a Web3 investor and market maker, brings a wealth of experience and resources to the table. Aside from capital, DWF Labs’ strategic guidance, ecosystem support, will empower Milady Meme Coin to solidify its position as a leader in the meme coins space.

The synergy between Milady Meme Coin’s vision and DWF Labs’ expertise holds the potential to reshape the landscape of meme coins, driving forward the evolution of memes.

About Milady Meme Coin 

Milady Meme Coin ($LADYS) is a self-organised meme coin made in the image of Milady. Positioned at the vanguard of the meme coin revolution, $LADYS embodies the indomitable spirit of memetic power and internet love.

Website: https://milady.gg/

Twitter: https://twitter.com/miladymemecoin

About DWF Labs

DWF Labs is the new generation Web3 investor and market maker, one of the world’s largest high-frequency cryptocurrency trading entities, which trades spot and derivatives markets on over 60 top exchanges.

Website: https://www.dwf-labs.com

Twitter: https://twitter.com/DwfLabs

 

Contact

Founder Ryuko Milady Meme Coin milady@milady.gg

KoinBX is The Most Trusted and Fastest Growing Crypto Exchange, Registered in India, It ranks in Top 100 exchanges on CoinMarketCap, In an exclusive interview with BitcoinWorld, We will explore the vision of KoinBX, their journey & What are their thoughts on Indian Crypto Ecosystem. 

 

Can you share your journey within the crypto industry and what led you to join KoinBX as the Chief Strategy Officer?

My journey with bitcoin started way back in 2012, when I read up on it for the first time. I bought my first BTC in 2016-17. As an engineer working in IT, I was intrigued by blockchain as a technology and was keen on exploring it. As time went by, I worked with some blockchain development companies to learn more. As a life-long learner, and KoinBX’s innate values laid down by our founder Saravanan Pandian, of democratizing access to crypto assets, among others inspired me to join the exchange.

What is the overarching vision of KoinBX, and how do you see it evolving in the next five years?

Technology is ever-evolving and India is one of the largest markets for tech-savvy youngsters. KoinBX aspires to reach a billion youths and we aim to be in a position to be educate and empower them to make smart investments. With emergence of new investment instruments such as ETH ETFs, we are likely to see an inflow of more new-age tech-savvy Indians who will invest within seconds. We want to bring more improved features and opportunities through upcoming and emerging technology in the space. That is the populace we want to onboard as a part of our digital asset revolution.

How does KoinBX ensure a seamless user experience for buying, selling, and trading cryptocurrencies?

While KoinBX prioritizes a holistic user experience through easiest and fastest onboarding, our strongest USP is our 24/7 customer support service ensuring that any potential disruptions are resolved as quickly as they arise.

Could you elaborate on the ‘Learn’ blog series and its role in educating investors and removing misinformation in the crypto space?

The ‘Learn’ blog series is a cornerstone of KoinBX’s commitment to educating investors and combating misinformation in the cryptocurrency space. This series covers a wide range of topics, from basic cryptocurrency concepts and blockchain technology to advanced trading strategies and market analysis. By providing accurate, up-to-date information, the ‘Learn’ blog series helps users build a solid understanding of the crypto market, enabling them to make informed investment decisions. Furthermore, by addressing common myths and misconceptions, we aim to demystify the crypto space and promote a more knowledgeable and confident community of investors.

What are the key security measures KoinBX has implemented to ensure the safety of user funds?

KoinBX employs a multi-layered approach to security to protect user funds. Key measures include:

Two-Factor Authentication (2FA): Users are required to enable 2FA for an additional layer of security on their accounts.

Encryption: All sensitive data, both at rest and in transit, is encrypted using industry- standard protocols.

Regular Audits: We conduct regular security audits and vulnerability assessments to identify and address potential threats.

24/7 Support We understand the importance of providing a sturdy customer support. Users are empowered to reach out at any hour for assistance and we are happy to help

How does KoinBX maintain compliance with FIU regulations, and what benefits does this bring to your users?

KoinBX adheres strictly to the regulations set forth by the Financial Intelligence Unit (FIU). This includes implementing robust KYC (Know Your Customer) and AML (Anti-Money Laundering) procedures to prevent fraud and ensure the legitimacy of all transactions. By maintaining compliance, we offer users a secure and legally compliant trading environment, enhancing trust and reliability. Compliance also facilitates smoother interactions with banks and financial institutions, improving the overall ease of depositing and withdrawing funds.

Being listed as one of the top 100 exchanges on CoinMarketCap is a significant achievement. What strategies have contributed to this success?

Our success on CoinMarketCap can be attributed to several key strategies:

User-Centric Approach: Prioritizing user satisfaction and continuously improving the platform based on user feedback.

Security: Implementing stringent security measures to build trust and

Innovation: Continuously enhancing our platform with new features and tools to meet the evolving needs of our users.

Liquidity: Ensuring high liquidity for various trading pairs to facilitate smooth and eficient trading.

What are the major challenges KoinBX faces in the current crypto market, and how are you addressing them?

Regulatory Uncertainty: We maintain a proactive approach to regulatory compliance, engaging with regulators and staying updated on the latest legal developments.

Market Volatility: We provide users with advanced trading tools and educational resources to help them navigate volatile market conditions effectively.

Cybersecurity Threats: We continuously enhance our security measures, conduct regular audits, and invest in the latest cybersecurity technologies to protect our platform and users.

What upcoming features or developments can users look forward to from KoinBX?

Enhanced Mobile App: New features and improvements for an even better mobile trading experience.

New Trading Pairs: Introducing more cryptocurrencies and trading pairs to provide users with greater diversity and opportunities.

Educational Initiatives: Expanding our ‘Learn’ blog series and launching new educational programs and webinars to further empower our users.

 What trends in the cryptocurrency industry are you most excited about, and how is KoinBX positioning itself to leverage these trends?

Integrating DeFi Solutions: Developing and integrating DeFi services to offer users access to innovative financial products.

Blockchain Partnerships: Forming strategic partnerships with blockchain projects to enhance our ecosystem and offer users new opportunities.

Educational Outreach: Continuously educating our users about these trends and how they can benefit from them, ensuring that they are well-prepared to participate in the evolving crypto landscape.

As we saw that Binance & Kucoin recently comply with FIU, do you think Indian users will use Indian exchanges instead of Binance & Kucoin?

Yes we strongly feel Indian users will use Indian exchanges. The kind of ease, and sense of security, Indian crypto exchanges offer is second to none.

 

What is your take on Indian Crypto Tax Laws, Do you think its favorable? If not , are you in talks with govt to impose a better taxation on crypto?

The current crypto tax laws in India present both challenges and opportunities. While they provide a clear framework for taxation, the high tax rates can be seen as a deterrent for investors and traders. At KoinBX, we advocate for a more balanced approach to taxation that fosters innovation and growth in the crypto sector. We are actively engaging in discussions with government bodies to propose a more favorable tax regime that encourages participation while ensuring compliance and revenue for the state.

As an Indian exchange how you are managing the exchange liquidity, seems there are other Indian crypto exchanges are using international exchanges order books, Are you doing the same?

Liquidity is a critical aspect of any crypto exchange, and we take this very seriously at KoinBX. While some Indian exchanges rely on international order books to enhance liquidity, we have developed a hybrid approach. We ensure sufficient liquidity through a combination of our own reserves and strategic partnerships with other liquidity providers. This enables us to offer competitive trading conditions and meet the needs of our users effectively.

If the taxation in India doesn’t change, do you have plans to shift the business on ONCHAIN ( Making into Decentralized Exchange )

Taxation alone does not influence business decision. We firmly believe in the motto of democratizing crypto assets, and with regards to that, we will definitely consider stepping into DeFi space in future. At KoinBX, our mission is to be at the forefront of innovation and regulatory compliance in the Indian crypto market. We are committed to delivering a secure, efficient, and user-friendly platform that caters to the needs of Indian crypto enthusiasts.

For such insightful post, Visit BitcoinWorld.co.in

Hong Kong, May 29, 2024 – Anticipation surges within the global finance community as the inaugural Hong Kong Traders Fair, hosted by the esteemed financial event producer FINEXPO, approaches. Set to unfold at the illustrious Crowne Plaza Hong Kong Kowloon East on December 14, 2024, this landmark event signifies a new era of innovation and collaboration in the financial industry.

With over 18 years of expertise in orchestrating unparalleled financial events, FINEXPO has solidified its reputation as a global leader. Having united more than 30,000 traders, investors, and financial advisors across diverse markets including Forex, stocks, options, bonds, cryptocurrencies, and forward markets, FINEXPO has become synonymous with driving growth and fostering meaningful connections within the finance community.

Diverse Perspectives, Expert Insights

At the heart of the Hong Kong Traders Fair lies a promise of enrichment, featuring a diverse lineup of international speakers poised to share their invaluable insights and expertise on foreign exchange, stock markets, futures, and options. Attendees can anticipate deep insights from experts representing different corners of the globe, making this event an essential gathering for anyone passionate about finance and investment.

Moreover, the fair offers attendees exclusive access to leading international financial companies at dedicated booths, providing a unique opportunity to interact directly with industry leaders and gain firsthand knowledge about the latest trends and developments shaping the financial landscape.

But the Hong Kong Traders Fair transcends mere business; it offers a holistic experience filled with entertainment programs, lucky draws, live performances, and exciting prizes and giveaways, ensuring that attendees have a memorable and rewarding experience.

 

Traders Fair Award Ceremony 2024

Adding to the excitement, the Traders Fair Award Night will take place in Hong Kong, allowing supporters of the Traders Fair partners to cast their votes starting from June 1, 2024, at tradersawards.com. Notable award categories include the Best Forex Company in Thailand, Best Forex Company in the Philippines, and Best Advisor in Thailand.

“We are thrilled to bring the Traders Fair to Hong Kong for the first time, providing a platform for industry leaders, professionals, and enthusiasts to come together, share knowledge, and explore new opportunities,” commented a representative from FINEXPO. “We invite everyone to join us for this exciting event and look forward to fostering meaningful connections and driving innovation in the finance industry.”

 

Event Details:

Date: Saturday, December 14, 2024

Time: 9:30 AM – 6:00 PM

Venue: Crowne Plaza Hong Kong Kowloon East

For more information about the Hong Kong Traders Fair 2024 and to express interest in attending, please visit tradersfair.com. Media inquiries, speaker opportunities, and partnership requests are warmly welcomed. Kindly reach out to FINEXPO at info@finexpo.org.

 

Join TRADERS FAIR in social networks:

https://www.linkedin.com/company/tradersfair/ https://www.facebook.com/TradersFair https://www.instagram.com/tradersfair.asia https://www.youtube.com/@FINEXPO

Davao, Philippines — The much-anticipated Davao Traders Fair, hosted by FINEXPO, is set to take place on October 26, 2024, at the dusitD2 Davao Hotel. This event promises a day of financial enlightenment, offering traders, investors, and finance enthusiasts a unique opportunity to gain valuable insights and expand their financial horizons.

 

A Heaven For Financial Knowledge

The Davao Traders Fair will feature an array of engaging seminars, interactive workshops, and networking opportunities designed to equip attendees with the knowledge and skills needed to navigate the complex world of finance. With a focus on practical strategies and real-world applications, this event is set to be a game-changer for all participants.

 

Meet Our Speakers

The Davao Traders Fair boasts an impressive lineup of speakers, each bringing a wealth of experience and expertise to the stage.

Meet John Philip Billones, Business Development Section Head of Mindanao. a passionate advocate for personal finance and investment literacy, JP Billones is dedicated to helping Filipinos understand the importance of saving and investing. He regularly conducts seminars and webinars for various organizations, sharing his insights on achieving financial goals.

Bringing to you Ken Berry, CEO & Founder of ConnectWeb3 PH. Having vast experience as a marketing consultant and strategist with experience in over 200 crypto projects since 2020, he is now a leading figure in the blockchain community. Ken Berry is also the founder of Blockchain Network Philippines and Mindanao Blockchain Association, and his presentations will offer attendees a deep dive into the world of blockchain and digital assets.

In addition to the educational sessions, the Davao Traders Fair will feature interactive booths where international financial companies will provide firsthand information and resources. This is a unique opportunity to engage with industry professionals, network with like-minded individuals, and explore new avenues for financial growth.

As the Davao Traders Fair approaches, excitement is building for what promises to be an enriching and transformative experience. Stay connected with us on social media for updates and event details.

For registrations, comprehensive event details, exploring speaker opportunities, or discussing media partnerships? Drop by tradersfair.com/philippines or shoot us an email at info@tradersfair.com.

 

Get social with us:

Website: https://tradersfair.com/ Facebook: https://www.facebook.com/TradersFair Instagram: https://www.instagram.com/tradersfair.asia  YouTube: https://www.youtube.com/user/finexpo

Lawmakers want President Biden to overturn the Staff Accounting Bulletin (SAB) 121 he vetoed to allow regulated financial firms to hold crypto.

House Financial Services Committee Chairman Patrick McHenry (R-NC) and Senator Cynthia Lummis (R-WY) led a letter urging President Joe Biden to reconsider vetoing the bipartisan Congressional Review Act (CRA) resolution overturning Securities and Exchange Commission (SEC) Staff Accounting Bulletin 121 (SAB 121). 

The SAB 121 makes it prohibitive for highly regulated financial firms to custody Bitcoin and crypto.

“Given the overwhelming bipartisan votes, we urge you to sign H.J. Res. 109 into law or work with the SEC to rescind the staff guidance,” stated the letter. 

“Rescinding SAB 121 is well within the SEC’s authority and there is ample precedent for revisiting a staff accounting bulletin.”

This CRA passed the Senate 60-38 and House 228-182. McHenry said it protects essential custody services and consumers. 

Senators Kirsten Gillibrand (D-NY), Representatives French Hill (R-AR), Ritchie Torres (D-NY), and others also urged regulators to state SAB 121 is unenforceable after the Government Accountability Office deemed it a rule under the CRA.

On November 15, McHenry, Lummis, Flood, Nickel, Gillibrand, Hill, and Torres made this argument to federal regulators. On February 1, Lummis, Flood, and Nickel introduced the bipartisan CRA.

As earlier reported, a veto from Biden was almost certain, after the US President expressed his intentions, citing the need to protect investors and the financial system. 

Should a presidential veto occur, Congress would need a two-thirds majority to override it.

However, recent developments in the US regulatory landscape might increase the chances of Biden deciding not to veto the bill. 

According to Bloomberg ETF analyst Eric Balchunas, the sudden stance shift seen by SEC towards a spot Ethereum ETF approval was motivated by “political issues.”

Moreover, presidential candidate Donald Trump has recently displayed a crypto-friendly approach in his campaign, and Biden might want to stay on the good side of this electorate share.

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

 

#Binance #WRITE2EARN

Port Charlotte, United States, June 2nd, 2024, Chainwire

$TRUMP Coin: A Revolutionary Cryptocurrency with Real-World Utility and Philanthropic Mission.

TrumpCrypto.io is excited to announce the launch of the $TRUMP Coin Initial Coin Offering (ICO), a groundbreaking cryptocurrency designed to merge digital innovation with tangible real-world benefits. With a total supply of 8,000,000,000 tokens and a pre-sale price of 0.016 USDT per token, $TRUMP Coin offers a unique investment opportunity.

Why choose this $TRUMP Coin?

$TRUMP by TrumpCrypto.io is more than just a cryptocurrency; it is a comprehensive ecosystem offering practical uses and supporting meaningful causes. The whitepaper outlines the core features:

Robust Ecosystem: $TRUMP Coin is an ERC-20 token on the Ethereum network, aimed at creating a dynamic ecosystem with real-world applications.

Charitable Contributions: Demonstrating the commitment to social responsibility, 10% of the total project profits are donated monthly to Disabled American Veterans, aiding those who have served. Additionally, a 0.25% burn fee on transactions is donated to the Trump National Committee Joint Fundraising Committee.

Merch Store Integration: Holders can use $TRUMP Coin to purchase a variety of products from the upcoming exclusive Merch Store, including clothing, digital artwork, and other merchandise. This integration ensures that $TRUMP Coin has immediate utility for its users.

Loyalty Rewards: Long-term holders of $TRUMP will benefit from a loyalty rewards program, offering discounts, early access to new products, and special promotions.

Tokenomics and Pre-Sale Details

Total Supply: 8,000,000,000 $TRUMP tokens.

Pre-Sale Price: 0.016 USDT per $TRUMP token (+ Bonus)

These pre-sale terms offer early investors a prime opportunity to engage with $TRUMP Coin at an attractive rate.

Participate in $TRUMP Pre-Sale

Investment Potential

Investing in $TRUMP Coin means becoming part of a project with a clear roadmap for growth and a dual focus on utility and philanthropy. The strategic development plan outlined in our whitepaper ensures that $TRUMP Coin will be a formidable presence in the digital currency market.

Participate in the #1 Trump Coin ICO to not miss out.

TRUMP Coin invites investors, technology enthusiasts, and the broader community to participate in the $TRUMP Coin ICO and support this innovative venture. For more information, users can visit the website at trumpcrypto.io and review the comprehensive whitepaper.

About $TRUMP Coin

$TRUMPCoin is a pioneering cryptocurrency project dedicated to creating a stable, transparent, and efficient digital currency with a focus on real-world utility and philanthropic contributions. Their mission is to create a token offering a real-world use with direct impact on real-world events.

Rav LLC is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

Contact

Kyle NelsonRav LLCweb3@trumpcrypto.io

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SANTA CLARA, California, May 31st, 2024, Chainwire

CARV, the largest modular data layer for gaming and AI, announced today a strategic investment from Animoca Brands, the company advancing digital property rights for gaming and the open metaverse. In addition, Animoca Brands will become an operator of CARV’s Tier 6 verifier nodes in support of CARV’s decentralization of its data layer. The partnership will facilitate deeper integration and long-term synergies as they expand their respective gaming and open metaverse ecosystems.

Founded as a gaming credential platform, CARV has evolved into a modular data layer protocol with strong traction from over 2.7 million users, 790 integrated games, and partnerships across major chains like Linea, BNB Chain, zkSync, and Ronin. The company has come good on its gaming credential roots by initiating ERC-7231, the standard approved by the Ethereum Community that binds multiple Web2 and Web3 identities to a single NFT, and partnering with the likes of Google Cloud and Netmarble’s web3 arm, MARBLEX.

To support rapid scaling and growth, CARV is introducing community-operated verifier nodes that scrutinize outcomes at each protocol layer. These nodes are crucial for maintaining decentralization, security, and equitable value redistribution as the network expands. CARV aims to accelerate user onboarding and adoption to grow the pie for all stakeholders in its user-owned data ecosystem through partnering with Animoca Brands as a strategic node operator, relying on their experience and expertise in operating various blockchain infrastructures. Node holders will have the option for one-click delegating to Animoca Brands for node operations, ensuring network uptime and robustness.

The rewards from node operations will initially be in the form of $veCARV, the staked version of CARV tokens. This also allows Animoca Brands and its portfolio of more than 400 gaming and metaverse companies to participate in CARV’s Infinite Play, a token-lock voting bribery system (CURVE & CONVEX model for gaming) for governance voting. 

Yat Siu, co-founder and executive chairman of Animoca Brands, commented: “CARV’s mission to advance data self-sovereignty and the interoperability of personal assets in both Web2 and Web3 fits perfectly with the work we do at Animoca Brands. This strategic partnership with CARV will amplify our efforts to pioneer a more equitable framework via new asset classes, economies, and digital property rights.”

“This is a multi-faceted alliance between two leaders in their respective domains,” said Victor Yu, co-founder of CARV. “Through Animoca Brands’ strategic investment, its support as a node operator, and collaboration across our gaming ecosystems, we are taking a comprehensive approach over many years to come. By leveraging our modular data layer with Animoca Brands’ far-reaching ecosystem, we aim to unlock new frontiers in user-owned data economies.”

For more about CARV’s highly anticipated node sale, set to begin on June 3, 2024 for whitelisted participants and June 5, 2024 for the public, users can visit https://node.carv.io.

About CARV

CARV is the largest modular data layer for gaming, AI, and ∞, pioneering a future where data generates value for all. As the sole author of ERC7231, CARV has built CARV Protocol, the modular data layer which has integrated with 40+ blockchains, Google Cloud, and other identity, storage, infra and AI providers. CARV’s flagship gaming superapp, CARV Play, is integrated with more than 790 web2 & 3 games and serving 2.7M+ gamers. CARV is backed by top-tier funds and ecosystems such as Temasek’s Vertex Ventures, ConsenSys (developer of Metamask), Tribe Capital, IOSG Ventures, Animoca Brands, HashKey Capital, Infinity Ventures Crypto, MARBELX, and more. For more information, users can visit carv.io.

About Animoca Brands

Animoca Brands (ACN: 122 921 813), a Deloitte Tech Fast winner, a Fortune Crypto 40 company, and one of the Financial Times’ High Growth Companies Asia-Pacific 2023, is a Web3 leader that leverages blockchain to deliver digital property rights to consumers around the world to help to establish the open metaverse. The company develops and publishes a broad portfolio of products including original games such as The Sandbox, PHANTOM GALAXIES, Life Beyond, and Crazy Defense Heroes, and products utilizing popular intellectual properties from the worlds of sports and entertainment, such as The Walking Dead, Power Rangers, MotoGP, and Formula E. It has multiple subsidiaries, including The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, Forj, Lympo, Animoca Brands Japan, Grease Monkey Games, Eden Games, Darewise Entertainment, Notre Game, TinyTap, SPORTPASS, PIXELYNX, WePlay Media, Gryfyn, and Azarus. Animoca Brands is one of the most active investors in Web3, with a portfolio of over 400 Web3 investments, both directly and through Animoca Ventures, including Yuga Labs, Axie Infinity, Polygon, Consensys, Magic Eden, Fireblocks, OpenSea, Dapper Labs, Yield Guild Games, and many more. For more information users can visit www.animocabrands.com or follow on X (Twitter), YouTube, Instagram, LinkedIn, Facebook, and TikTok.

Contact

Co-Founder & COOVictor YuCARVmedia@carv.io