Argentina Bitcoin Read CoinChapter.com on Google News

YEREVAN (CoinChapter.com) — On May 23, Argentina’s National Securities Commission (CNV) held a crucial meeting with El Salvador’s National Commission of Digital Assets (CNAD) to learn from its experience with Bitcoin adoption.

Key figures like CNV president Roberto Silva and vice president Patricia Boedo met with CNAD president Juan Carlos Reyes, with key discussions revolving around El Salvador’s journey since it became the first country to adopt Bitcoin as legal tender in September 2021. The officials exchanged insights on cryptocurrency use in global economies, focusing on Bitcoin’s impact and regulation.

CNV president Silva mentioned the potential for collaboration agreements between the two nations.

Argentina and El Salvador’s Bitcoin Meeting.” Source: @CNVArgentina Learning from El Salvador’s Bitcoin Adoption for Argentina

Boedo stressed the need for efficient collaboration to create appropriate regulations. “Argentina is a pioneer in technology,” she noted, “and the National Securities Commission understands and wants to work with the industry efficiently.”

CNAD president Reyes echoed this sentiment, highlighting Argentina’s commitment to technology and regulation. The exchange of knowledge between these two nations could pave the way for Argentina’s future in cryptocurrency.

Argentina’s Push for Cryptocurrency Regulation

Argentina has been actively moving towards regulating its cryptocurrency market. In April, the country introduced registration requirements for crypto firms, signaling a step towards formalizing the industry. The push for regulation has gained momentum, especially after Bitcoin-friendly politician Javier Milei became Argentina’s president in late 2023.

Foreign affairs minister Diana Mondino also contributed to this progression. She mentioned that the government was preparing a decree to legalize using Bitcoin and other cryptocurrencies for payments under certain conditions.

Argentina Explores Crypto Regulation with El Salvador – Source: @CNVArgentina

The post Argentina Looks to El Salvador for Bitcoin Adoption Success Secrets appeared first on CoinChapter.

Key Takeaways:

Pepe coin price gained over 100% in the last few days and tested the $0.0000172 zone.

There was a break above a key rising channel with resistance at $0.0000135 on the daily chart.

The price could consolidate near $0.0000145 before the next move higher.

Pepe Coin Consolidates Strong Gains: Presenting a Golden Buying Opportunity Read CoinChapter.com on Google News

NEW DELHI (CoinChapter.com) — Pepe coin (PEPE) rallied over 100% and broke many hurdles near $0.000014. The price is now consolidating gains and eyeing more gains.

Pepe coin Price Remains Supported for More Gains

In the last analysis, we discussed how Pepe coin rallied and tested an important resistance at $0.0000118. There was a minor pullback in PEPE, but the bulls were active above the $0.0000080 support and the 50-day simple moving average (blue).

As a result, there was a fresh increase and the price rallied over 100%, outperforming Bitcoin and Ethereum. There was a clear move above the $0.0000118 and $0.000020 resistance levels. Besides, there was a break above a key rising channel with resistance at $0.0000135 on the daily chart.

Pepe coin price daily chart | Source: PEPE/USD on TradingView.com

The bulls even pumped the price above $0.0000150. The price traded to a new high at $0.0000172. During the recent surge, Pepe even flipped MATIC in market cap and jumped to the 18th spot.

https://t.co/EccAVi8mkT pic.twitter.com/lnLUsHaJfN

— Pepe (@pepecoineth) May 27, 2024

The price is now consolidating gains and showing some signs of a minor downside correction. Immediate support is near the $0.0000150 level. The first major support is near the $0.0000145 zone and the same channel resistance (now support). It coincides with the 23.6% Fib retracement level of the upward move from the $0.00000514 swing low to the $0.0000172 high.

A downside break below the $0.0000145 support might spark a larger downside correction. The next key support sits near $0.000012 or the 50% Fib retracement level of the upward move from the $0.00000514 swing low to the $0.0000172 high.

A close below the $0.000012 support might spark heavy bearish moves and could initiate a larger decline. In the stated case, the price might decline toward the $0.0000080 support and the 50-day simple moving average (blue).

Another Surge?

Conversely, PEPE might start another increase from $0.0000150 or $0.0000145. Immediate resistance is seen near the $0.0000165 zone. The first major resistance is near the $0.0000172.

A close above the $0.0000172 level could set the pace for a move toward the $0.0000188 resistance. The main resistance is now near $0.000020. A daily close above the $0.000020 resistance zone could open the doors for a move toward the $0.000025 level.

Overall, PEPE price is holding gains above the 50-day simple moving average (blue). It seems like the bulls are not done yet and they might aim for more upsides above the $0.0000172 level.

The post Pepe Coin Consolidates Strong Gains: Presenting a Golden Buying Opportunity appeared first on CoinChapter.

xAI Funding, Elon Musk Startup, Boosts Memecoins

NAIROBI (CoinChapter.com) — Elon Musk’s AI startup, xAI, secured $6 billion in Series B funding. This funding round, which elevated xAI’s post-money valuation to $24 billion, saw significant backing from Andreessen Horowitz and Sequoia Capital. These funds will propel xAI’s first products to market and accelerate the development of advanced infrastructure and future technologies. Musk announced the pre-money valuation at $18 billion on X.

Mario Nawfal’s post on X

Musk’s announcement of the funding round indicates significant investor confidence in xAI’s potential to challenge industry leaders like OpenAI and Alphabet’s Gemini. As the race for AI dominance intensifies, xAI’s new funding highlights its strategic position in this evolving landscape. Musk hinted at more announcements in the coming weeks, signaling continued momentum for xAI.

Meme Coins Surge Amid xAI Funding News

Notably, the recent funding boost for xAI has also had a noticeable impact on the performance of popular memecoins. The memecoin market cap currently stands at $68.3 billion, marking a 4.4% change in the last 24 hours. Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), and Floki (FLOKI) are among the top performers.

Top memecoins by market cap CoinGenko

Dogecoin, valued at $0.1687, saw a 0.69% increase over 24 hours, with a market cap of $24.4 billion. Shiba Inu experienced a 5.52% rise, reaching a market cap of $15.1 billion. Pepe, with the most substantial gain of 6.60%, now has a market cap of $7.06 billion. Floki’s price surged by 21.08%, pushing its market cap to $2.61 billion.

Certainly, the recent funding round for xAI has undoubtedly added fuel to the meme coin fire, with investors eager to capitalize on the growing interest in AI-related projects. Moreover, while the long-term impact of this trend remains to be seen, it is clear that the meme coin market is evolving rapidly, driven by a combination of technological advancements, social media hype, and investor speculation.

In conclusion, Elon Musk’s funding activities continue to influence the performance and perception of memecoins. As xAI advances, the crypto community eagerly watches for further developments and their market impacts.

The post xAI Funding, Elon Musk’s AI Startup, Boosts Memecoin Performance appeared first on CoinChapter.

Crypto Influencer Accounts Hacked Read CoinChapter.com on Google News

NAIROBI (CoinChapter.com) — Prominent crypto influencer accounts were hacked over the weekend, used to shill suspicious new tokens in an apparent orchestrated hack. The affected included the anonymous trader GCR, rapper Rich The Kid, and even reality TV star Caitlyn Jenner.

A snippet Miles Deutscher’s post on X

The hacked accounts promoted various little-known cryptocurrencies to millions of followers, causing temporary price pumps. GCR’s account shilled ORDI and Luna2, briefly sending them up 6% and 274% respectively. Meanwhile, Rich The Kid and Jenner appeared to be promoting new meme tokens launched just hours before.

GCR Confirms Breach, Warns of Wider Attack

GCR (Gigantic-Cassocked-Rebirth), the pseudonymous trader, acknowledged their X account hack on May 26. Notably, they stated that they received notifications two months ago about bribery attempts to access the account. “There can’t be any security if X employees take money for admin access,” GCR stated. This hinted at potential insider involvement facilitating the hacks.

A screenshot of GCR post on X

Bitcoin developer Udi Wertheimer also cautioned the GCR incident could be “part of an operation going on hacking big [X] accounts.” Udi Wertheimer urged caution as more questionable celebrity-linked token launches emerged over the long weekend.

Celebrities Like Jenner and Rich The Kid Also Targeted

Moreover, the attacks went far beyond just GCR’s account. American media personality Caitlyn Jenner’s X feed began promoting a new meme coin called “JENNER”. This was accompanied by videos of Jenner urging followers to get in quickly. The account of rapper Rich The Kid also posted about a token dubbed “RICH” on the Solana blockchain.

Moreover, while the authenticity of these celebrity posts remains unclear, signs point to a coordinated hacking campaign timed for the holiday weekend. Certainly, this is when security staffing is most likely to have been reduced. Prominent developer Udi Wertheimer warned,

“GCR already told us today that there’s an operation going on hacking big twitter accounts…I recommend that you guys be very careful.”

Additionally, while some crypto influencer accounts that were hacked blatantly promoted tokens, the Caitlyn Jenner incident raised suspicions of deepfake technology involvement. Accompanying videos showed Jenner assuring followers of the token’s legitimacy and urged viewers to “get in on this” quickly. However, the associated crypto wallet address matched one previously used in a hack targeting adult content creator Kazumi, casting doubt on the videos’ authenticity.

The post Crypto Influencer Accounts Hacked in Suspicious Token Shilling Spree appeared first on CoinChapter.

Ronaldo Announces Fourth NFT Collection with Binance

NAIROBI (CoinChapter.com) — Football legend Cristiano Ronaldo has announced the imminent launch of his fourth non-fungible token (NFT) collection on the Binance NFT Marketplace. The collection, slated for a May 29 debut, will showcase iconic moments from Ronaldo’s illustrious career, inviting fans to “join the journey.” While the number of NFTs and pricing details remain under wraps, the announcement comes amidst ongoing legal troubles surrounding Binance and Ronaldo’s previous NFT ventures.

A snippet of Cristiano Ronaldo’s post on X Cristiano Ronaldo’s NFT Journey with Binance

Cristiano Ronaldo’s new NFT collection will highlight key moments from his illustrious football journey. The collection’s exact number of NFTs remains undisclosed until the launch. While most NFTs will have fixed prices, the final Super Rare NFT will have different pricing, per Binance’s blog post. Ronaldo commented,

“My football journey has seen me travel around the world, and I’ve been honored to play for some of the most prestigious clubs out there. Now it’s your turn to join me on that journey too.”

The collection not only celebrates his career but also aims to engage his fans in a unique way. Previous NFT events involving Ronaldo included perks beyond the digital realm. Holders were invited to play football with Ronaldo as part of the Binance promotion. This new collection might also include similar exciting benefits for NFT holders.

Cristiano Ronaldo 4th NFT collection count down. Source: Binance

This latest collection follows a series of successful NFT collaborations between Ronaldo and Binance. However, previous events have sparked controversy. In November 2023, a class-action lawsuit was filed against Ronaldo in a U.S. district court in Florida, alleging his involvement in the “offer and sale of unregistered securities” with Binance.

Ronaldo Defies Legal Headwinds, Gears Up for Binance Drop

The lawsuit claimed Cristiano Ronaldo “promoted, assisted in, and/or actively participated in the offer and sale of unregistered securities in coordination with Binance.” This stemmed from Binance’s broader legal troubles, including founder Changpeng “CZ” Zhao’s conviction in the U.S. for enabling fraud. Zhao received a four-month detention sentence in April 2024 for his role in an alleged money laundering scheme.

Despite these challenges, Ronaldo’s partnership with Binance remains strong. Fans and collectors expect the new collection to draw significant attention. It represents another chapter in Ronaldo’s digital ventures, blending sports and technology.

Above all, Binance remains optimistic about the new collection, seeing it as an opportunity to engage with Ronaldo’s global fanbase and the broader NFT community. As the launch date approaches, fans and collectors eagerly await the details of the new NFTs and the unique experiences they may offer.

The post Ronaldo Announces Fourth NFT Collection on Binance appeared first on CoinChapter.

Saylor Changes View on ETH

NAIROBI (CoinChapter.com) — MicroStrategy founder Michael Saylor has changed his view on the approval of spot Ether ETFs by the U.S. SEC and now sees it as good for Bitcoin. On May 25, during the “What Bitcoin Did” podcast, Saylor discussed with Peter McCormack the implications of this regulatory move. He now sees the approval as strengthening Bitcoin’s political and industry support.

Saylor’s Change of Heart

Michael Saylor’s change of heart and new view on Ether ETFs marks a significant shift from his earlier perspective. He believes the SEC’s approval of eight spot Ether ETFs on May 23 will accelerate institutional adoption. “Is this good for Bitcoin? Yeah, I think it’s good for Bitcoin,” Saylor said. He emphasized that this development enhances Bitcoin’s position by aligning the crypto industry politically.

Beagle’s post on X

Saylor argues that the approval of Ether ETFs could bolster Bitcoin’s position by providing additional political support from the broader crypto community.

“I think it may be better for Bitcoin because we are politically much more powerful [when] supported by the entire crypto industry,”

Furthermore, Saylor suggests that this development could accelerate institutional adoption of cryptocurrencies, as previously hesitant investors may now view the asset class as legitimate. He predicts that mainstream investors will allocate a portion of their portfolios to cryptocurrencies, with Bitcoin capturing the lion’s share, possibly 60% to 70% of the crypto allocation.

In the past, Saylor had expressed doubts about the likelihood of SEC approval for Ether and other cryptocurrencies like BNB, Solana, XRP, and Cardano. He had previously stated,

“None of [these tokens] will ever be wrapped by a spot ETF, none of them will be accepted by Wall Street, none of them will be accepted by mainstream institutional investors as crypto assets.”

Saylor on Ethereum Stirs Debate as Bitcoin Consolidates

Saylor’s shift has sparked discussions within the crypto community. Joe Carlasare, a Bitcoin commercial litigator, remarked on Saylor’s change of heart, noting it as a significant shift. Meanwhile, crypto analyst Ricky Bobbyy raised the question of whether Saylor’s endorsement might lead to him personally investing in Ethereum.

As of May 26, Bitcoin trades at $68,610.17, down 1.10% in the last 24 hours. The 50-day EMA at $65,158.96 serves as a critical support level, which, if breached, could lead to further downside towards the 200-day EMA at $54,877.25. Conversely, the resistance at $71,984.07 and $72,986.57 needs to be overcome for Bitcoin to regain bullish momentum.

BTC/USD 1-day price chart. Source: TradingView

The RSI at 57.14 indicates moderate momentum, suggesting that Bitcoin is neither overbought nor oversold. This level implies a potential for consolidation or a continuation of the current trend, depending on market conditions.

The approval of Ether ETFs is seen as a positive step for the entire crypto industry. Saylor highlighted that it serves as an additional line of defence for Bitcoin. He expects hesitant investors to view cryptocurrencies as a legitimate asset class now, leading to broader adoption.

The post Saylor Changes View on ETH ETF Approval – Now Sees it as Good for Bitcoin appeared first on CoinChapter.

Donald Trump Vows to Ensure the Future of Crypto in USA

NAIROBI (CoinChapter.com) — Donald Trump announced a bold plan, vowing to promote crypto and Bitcoin within the USA. He pledged to protect self-custody rights for 50 million crypto holders. Trump also firmly opposed central bank digital currencies (CBDCs), vowing never to allow their creation. His statements mark a significant stance in the ongoing crypto regulation debate.

Trump promises crypto support. Source: Bitcoin Magazine Trump’s Vision for Crypto’s Future

Trump’s commitment to crypto enthusiasts is clear. He emphasizes the importance of self-custody, which allows users to have full control over their digital assets. This stance resonates with many in the crypto community who value privacy and independence. By rejecting CBDCs, Trump distances himself from government-controlled digital currencies, appealing to those wary of excessive regulation.

“I will support the right to self custody to the nations 50 million crypto holders”

Donald Trump

His statements come as Bitcoin experiences significant market activity. With a current market cap of $1.35 trillion, Bitcoin remains a dominant force in the crypto space. Daily transactions reach 835,000, highlighting its widespread use. Trump’s support could further boost confidence in Bitcoin and other cryptocurrencies.

“I will keep Elizabeth Warren and her goons away from your Bitcoin And I will never allow the creation of a Central Bank Digital Currency (CBDC)”

Donald Trump

Moreover, Donald Trump took an unequivocal stand against central bank digital currencies (CBDCs), vowing, “I will never allow the creation of a central bank digital currency.” This bold declaration resonates with concerns over potential government overreach and erosion of financial privacy associated with CBDCs.

Bitcoin’s Performance Amidst Political Support

On May 27, 2024, Bitcoin’s price stands at $68,714.83, showing a slight decrease of 0.81% over the past 24 hours. Despite this minor dip, Bitcoin remains 5.38% below its all-time high of $73,797.35, recorded on March 14, 2024. This recent fluctuation can be attributed to market adjustments following Trump’s vow, as investors react to the news and its potential implications.

BTC/USD 1-day price chart. Source: TradingView

Bitcoin faces resistance at $72,986.57 and finds support at $60,723.03. The price remains above the 50-day EMA of $65,298.54, suggesting a bullish trend if support levels hold. Fibonacci retracement indicates critical zones at $68,316.17 and $60,065.22, providing critical zones for traders to watch.

Bitcoin Onchain data. Source: Artemis

Bitcoin’s performance metrics highlight its resilience and growing adoption. Daily active addresses have surged to 353,900, and decentralized exchange (DEX) trading volumes reached $80,200. Furthermore, the total value locked (TVL) in decentralized finance (DeFi) protocols utilizing Bitcoin exceeds $1.2 billion, showcasing the network’s growing adoption and utility.

The ex-president’s stance on crypto reflects a broader trend in American politics. Lawmakers and regulators are increasingly scrutinizing digital currencies, balancing innovation with regulation. Trump’s declaration could influence future policy directions, potentially fostering a more favorable environment for crypto growth in the USA.

The post Donald Trump Vows to Secure Bitcoin’s Future in the USA appeared first on CoinChapter.

Sam Bankman-Fried Transferred to Oklahoma

NAIROBI (CoinChapter.com) — According to Bloomberg, Sam Bankman-Fried, co-founder of FTX crypto exchange, has been transferred to a detention center in Oklahoma. This move occurred despite a federal judge’s request to keep him in New York to aid his appeal. Bankman-Fried faces this change while dealing with the fallout from his conviction for orchestrating significant fraud at FTX.

Bankman-Fried’s Unexpected Relocation

After his conviction for major fraud at FTX, Bankman-Fried faced unexpected changes. Originally housed at the Metropolitan Detention Center in Brooklyn, Sam Bankman-Fried’s sudden transfer to Oklahoma raises questions about the effectiveness of judicial recommendations in federal detainment procedures. The move not only complicates his ongoing appeal but also distances him from critical legal resources. This decision came after his public objection to the April ruling, exacerbating challenges in his legal defense.

Bankman-Fried’s allegations against Sullivan & Cromwell, the law firm representing FTX’s new management, add layers to the controversy. He accused the firm of colluding with prosecutors and obstructing his access to essential documents. These accusations highlight potential biases and procedural flaws that could influence the fairness of his trial and subsequent appeals.

Seeking a Favorable Appeal Outcome

With his appeal officially filed, Bankman-Fried hopes for a sentence reduction. He aims to introduce vital evidence and present key witnesses, which he claims his defense was denied during the trial. Mark Botnick, Bankman-Fried’s spokesman, expressed gratitude for the court’s consideration and hoped the Bureau of Prisons would follow the recommendation to ensure access to appellate counsel.

The Oklahoma facility, a temporary transfer center, holds inmates for about four to six weeks. According to the report, Sam Bankman-Fried might eventually be transferred closer to his family in California to serve the remainder of his sentence.

By moving closer to family, Bankman-Fried may find better conditions to support his appeal. This relocation could potentially provide a more conducive environment for legal preparations, increasing his chances for a reduced sentence.

FTT 1-day price chart. Source: CoinGenko

Notably, amidst the ongoing legal turmoil surrounding Sam Bankman-Fried and FTX, the exchange’s native FTT token has experienced volatility. At the time of writing, FTT is trading at $1.61, up 2.02% over the past 24 hours, with a market capitalization of around $529 million, ranking it as the 130th largest cryptocurrency.

The post Sam Bankman-Fried Transferred to Oklahoma Detention Center appeared first on CoinChapter.

Do Kwon’s Extradition From Montenegro

NAIROBI (CoinChapter.com) — Montenegro’s High Court will revisit Do Kwon’s extradition after an appeal. Since his March 2023 arrest, Kwon faces potential extradition to South Korea or the United States for fraud charges. The latest appeal complicates his legal battle.

Bitcoin News post on X

According to a recent report from Montenegrin news outlet Vijesti, the country’s court of appeals accepted arguments from Kwon’s lawyers, sending the extradition question back to the High Court “for retrial and decision.” This marks the latest legal maneuver employed by Kwon’s defense to delay his potential transfer to the U.S. or South Korea, where criminal charges await.

Kwon’s Legal Maneuvers Delay Extradition Decision

In March 2023, Montenegrin authorities arrested Kwon for using falsified travel documents. Subsequently, they sentenced him to four months in prison, releasing him afterward as the courts weighed competing extradition requests. Meanwhile, Kwon’s legal team has been active, employing numerous tactics to delay his extradition. However, the appeals court highlighted that if Kwon consents to extradition, a shorter procedure must be applied, emphasizing the need to ensure his consent is voluntary and irrevocable.

Additionally, in April, a U.S. court found Kwon and Terraform Labs liable for fraud in a civil case brought by the SEC. The court has scheduled a hearing on May 29 to hear proposed remedies from both parties. The outcome of this hearing could significantly influence Kwon’s extradition process.

Fraud Charges and International Implications

Kwon was sentenced to four months in prison after his arrest in March 2023 for using falsified travel documents. After his release, courts began to weigh competing extradition requests from the U.S. and South Korea. However, the situation grew more complicated in April when a U.S. court found Terraform Labs and Kwon liable for fraud. This civil case, brought by the SEC, adds yet another layer to Kwon’s legal troubles.

The international legal tangle continues to unfold, with both the U.S. and South Korea keen on bringing Kwon to justice. The latest development in the extradition saga keeps the crypto community and legal observers closely watching. The outcome will set a precedent for handling similar cases involving crypto-related fraud on an international scale.

The post Do Kwon’s Extradition Returns to Montenegro High Court After Appeal appeared first on CoinChapter.

Majuro, Marshall Islands, May 27th, 2024, Chainwire

Multipool, a leading innovator in the blockchain and cryptocurrency industry, concludes its Fjord Foundry LBP with a sell out of all 5 million tokens. With the close of the LBP, Multipool launched their native token, $MUL, on Uniswap V3 today with a market cap of $13M.

$MUL on Uniswap – here

“The LBP has come to a close and we’ve sold out all 5 million tokens. With the close of the LBP, we’ve now launched $MUL on Uniswap V3. A big thanks goes out to the Multipool community and Fjord Foundry for such a successful LBP. ” Steven Murray, a Core Contributor at Multipool

Following on from a successful over-subscribed LBP, $MUL launched today on Uniswap, giving enthusiasts who missed the LBP the chance to trade $MUL on Uniswap. For participants who took part in the LBP, their tokens can now be claimed on Fjord Foundry.

Users can review the details here – app.fjordfoundry.com

To learn more about Multipool and its features, users can visit Multipool’s

Website – www.multipool.finance

Telegram – t.me/multipoolfi

X – www.x.com/multipoolfi

About Multipool

Multipool is a cutting-edge decentralized exchange (DEX) transforming the trading landscape for real-world assets (RWAs) and cryptocurrencies. Multipool is designed for fairness and equality, featuring a fully decentralized on-chain order book, deep liquidity through dynamic bracket pools, and seamless trading of RWAs and cryptocurrencies. Utilizing world-class innovations including industry-first FIX APIs, low latency networks, zero price impact auctions, trustless RFQs, peer-to-peer repo lending, and MEV bot protection, Multipool sets a new standard in DeFi trading. Experience unparalleled efficiency and security in your trading journey with Multipool – The DEX with CEX appeal.

https://www.multipool.finance/

Multipool 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

Public Relations ManagerAngie HermosaMultipoolpress@multipool.finance

The post Multipool Sells Out Fjord Foundry LBP appeared first on CoinChapter.

SEC vs. Ripple lawsuit illustration Read CoinChapter.com on Google News

YEREVAN (CoinChapter.com) — The Ripple SEC lawsuit is reaching a critical phase, with Judge Torres expecting to deliver her final judgment sometime in the third quarter of 2024. This decision will follow the resolution of the motion to seal, a contentious issue between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs. Both sides have presented their arguments, with key disputes centering on the sealing of Ripple’s financial details and XRP sales to institutional investors.

Legal experts anticipate that this judgment could come much earlier than expected. The outcome of this phase is eagerly awaited by all parties involved, including third parties with vested interests.

Is XRP’s Legal Status in the U.S. in Danger?

The U.S. House of Representatives has taken a significant step by voting on the Financial Innovation and Technology for the 21st Century Act (FIT21). This bill aims to establish a regulatory framework for digital asset trading and issuance and define the roles of the CFTC and SEC in regulating the crypto industry in the United States. If enacted, this law will influence ongoing lawsuits against major players like Coinbase and Binance, alongside Ripple.

Impact of FIT21 Bill on SEC – Source: X

One noteworthy section of the bill mirrors Judge Torres’ ruling that XRP itself is not a security. The crypto bill states:

“A digital asset sold or transferred pursuant to an investment contract is not and does not become a security as a result of being sold or transferred under that contract.”

This legislative move has raised questions about XRP’s decentralization. Lawyer Bill Morgan clarified:

“The legislation is not retrospective. The court has already found XRP is not a security. The SEC will not challenge this judgment. The legislation will not change that.”

Bill Morgan Clarifies Legislation Impact on XRP – Source: X

Ripple’s Readiness for SEC Penalties

As of late, the SEC has opposed Ripple’s motion to seal evidence from the public.

The SEC argues that Ripple’s redaction requests would obscure critical public information essential for the court’s decisions and public understanding of the penalties involved. This includes details about Ripple’s current assets, recent sales, revenues, expenses, and discounts to institutional investors.

The SEC is seeking $2 billion in total fines. However, Ripple contends it should only pay civil penalties not exceeding $10 million. Courts generally do not accept the initial amounts requested by parties, suggesting the final amount may be significantly lower.

Discussion on Ripple’s ODL Sales and Legal Implications – Source: X

Bill Morgan predicts Ripple will largely lose the motion to seal. He also noted that the SEC clarified that none of the sales to institutions with discounts were ODL contracts. Despite this, the SEC still seeks a permanent injunction to stop ODL sales.

Amidst the legal proceedings, the price of XRP has remained range-bound. Market analysts suggest that this stability reflects the uncertainty surrounding the lawsuit’s outcome. Investors and traders are closely watching the developments, particularly the final judgment from Judge Torres and the potential impact of the FIT21 bill.

XRP 1-Month Price Chart – Source: CoinMarketCap

The post Ripple SEC Lawsuit: Could FIT21 Crypto Bill Influence The Outcome for XRP? appeared first on CoinChapter.

As the cryptocurrency market braces for volatility, BlockDAG stands out with a staggering 800% price surge, surpassing Optimism (OP) and generating significant buzz. Meanwhile, Polkadot and Optimism work to solidify their positions with strategic initiatives. Let’s explore the latest developments and how BlockDAG is revolutionizing the crypto scene.

Polkadot’s Web3 Vision: Integrating TikTok

Polkadot is making headlines with its ambitious plan to integrate TikTok into the Web3 ecosystem. This initiative aims to create a new version of TikTok on the Polkadot network, potentially buying and rebuilding the platform. This bold move has sparked considerable interest in Polkadot’s native cryptocurrency, DOT.

Despite recent market fluctuations, DOT has shown resilience with a 3.54% growth over the past 30 days and a 21.84% increase in trading volume. While speculation about a significant rise continues, investors are advised to remain cautious amidst market volatility. 

Optimism (OP) Poised for Growth

Optimism’s native token, OP, is considered undervalued by some analysts, who predict significant growth due to its association with Coinbase and Base. Coinbase’s extensive user base could drive substantial retail adoption of Base, boosting OP’s price and value.

Although the growth potential is promising, the market’s inherent volatility necessitates caution. OP’s undervaluation presents both opportunities and risks for investors, emphasizing the importance of careful consideration of its future trajectory. 

BlockDAG’s Profile Page Powers 800% Price Surge

BlockDAG has experienced a remarkable 800% price surge during its presale, with the coin’s value rising from $0.001 in Batch 1 to $0.009 in Batch 15. The platform has raised an impressive $34+ million so far, aiming for $600 million by year’s end. Analysts project a 30,000x ROI by 2030, making BlockDAG a top contender for 2024.

A key driver of BlockDAG’s success is its innovative Profile Page, which offers personalized information and settings. Users can easily check their current rank within the platform’s hierarchy, enhancing their engagement in ROI-generating activities. Additionally, the platform’s dynamic form fields and wallet signature mechanism ensure secure and efficient updates of delivery addresses, protecting sensitive information. 

BlockDAG’s high-visibility marketing efforts, including a spectacular showcase at London’s Piccadilly Circus, have further boosted its profile. This event celebrated BlockDAG’s CoinMarketCap listing and the upcoming launch of the X1 app in June 2024, attracting international attention and enhancing the platform’s credibility.

These bold marketing initiatives have positioned BlockDAG prominently within the global cryptocurrency community, drawing in new investors and users and significantly enhancing its overall appeal.

The Last Call

In summary, Optimism (OP) shows potential for substantial gains due to its ties with Coinbase, while Polkadot’s innovative move to integrate TikTok into Web3 generates excitement. Meanwhile, BlockDAG is making a significant impact, raising over $34 million and achieving an 800% presale surge.

BlockDAG’s cutting-edge Profile Page features and high-profile marketing efforts, including the Piccadilly Circus display, have garnered global attention and boosted user engagement. With these advancements, BlockDAG is poised for an extraordinary 30,000x ROI, making it a standout player in the cryptocurrency market.

Join BlockDAG Presale Now:Website: https://blockdag.networkPresale: https://purchase.blockdag.networkTelegram: https://t.me/blockDAGnetworkOfficialDiscord: https://discord.gg/Q7BxghMVyu

The post BlockDAG’s Impressive Rise: User Engagement Boosts 800% Price Surge ft Polkadot and Optimism Cryptos  appeared first on CoinChapter.

Kaleo’s DOGE price prediction indicates a potential surge to $1 this year, driven by increased investor sentiment risk. Meanwhile, the Uniswap vs SEC case has caused concern in the DeFi space, with many questioning the potential impact on UNI’s price. Amidst these developments, BlockDAG has been making significant strides. The company revamped its dashboard to boost user engagement and transparency, leading to a presale surge of $33.6 million. With its current price at $0.009 and eco-friendly mining machine offerings, BlockDAG’s potential continues to rise, attracting more investors.

Toncoin Sees Significant Growth in TVL and Network Activity

Crypto trader Kaleo has analysed Dogecoin’s potential, suggesting a bullish outlook. His prediction suggests DOGE could hit $1 this year, driven by a shift toward riskier assets among investors, with trends like the GameStop pump indicating increased retail interest.

Kaleo’s DOGE price prediction highlights the cryptocurrency’s position against Bitcoin. He expects Dogecoin to break its descending trend line, potentially tripling its value in BTC terms. This DOGE price prediction also suggests that as Bitcoin’s price rises, Dogecoin’s value in USD could see gains, attracting more attention from traders and investors.

Uniswap vs SEC: Legal Battle and Market Impact

On May 21, Uniswap Labs filed a 43-page document defending itself against the SEC’s allegations. The Uniswap vs SEC case has sparked concern in the DeFi space, with many questioning the potential impact on UNI’s price if the issue goes to court.

Marvin Ammori, Uniswap’s chief legal officer, argued that the SEC’s case relies on the incorrect assumption that all tokens are securities. Following the news, UNI saw significant gains, trading from $7.79 to $9.38. However, the outcome of the Uniswap vs SEC case remains uncertain, prompting comparisons to Ripple and LBRY Credits’ legal challenges, which had significant impacts on their respective token prices. Observers are keenly watching for any developments.

BlockDAG’s Dashboard and Eco-Friendly Mining Machines Set New Standards

Since the start of 2024, BlockDAG has been making headlines with its impressive updates for crypto investors. One of the most notable upgrades is its advanced dashboard. This new feature enhances user experience and transparency, providing a hot news section and wallet integration. Users can now view the latest announcements and monitor their balances directly on the dashboard.In addition to the dashboard, BlockDAG’s eco-friendly mining machines set it apart in the crypto industry. These advanced, energy-efficient rigs are designed to provide top-notch performance while being environmentally conscious. Key features include eco-conscious mining, no draining on device resources, hybrid consensus protocol, and high hashing power per watt. These innovations ensure that BlockDAG remains competitive and attractive to miners.

BlockDAG offers the X10 basic mining machine for beginners, a compact and efficient device perfect for home use. Despite its small size, the X10 can mine up to 200 BDAG daily with a 100 MH/s hash rate. Its plug-and-play setup, Wi-Fi and Ethernet connectivity make it user-friendly and convenient for any space.BlockDAG’s dashboard advancement functionality and mining technology highlight its potential to prosper in the evolving crypto landscape. With a presale figure reaching $33.6 million and the current price surging to $0.009, BlockDAG stands out as a promising investment opportunity for those looking to capitalise on the future of cryptocurrency mining.Comparing the Potential of BlockDAG, DOGE, and UniswapKaleo’s DOGE price prediction suggests a surge to $1 this year, while the Uniswap vs SEC case raises concerns about UNI’s future. BlockDAG shines with its advanced dashboard and eco-friendly mining machine amid these developments, leading to a $33.6 million presale and a price surge to $0.009. With its innovative features, BlockDAG offers greater investment potential, making now an ideal time to invest in its presale.

Join BlockDAG Now!Website: https://blockdag.networkPresale: https://purchase.blockdag.networkTelegram: https://t.me/blockDAGnetworkOfficialDiscord: https://discord.gg/Q7BxghMVyu

The post BlockDAG’s $33.6M Presale Boost Stuns Presale COmmunity Amid DOGE Price Prediction and Uniswap Legal Battle appeared first on CoinChapter.

Phoenix, USA, May 27th, 2024, Chainwire

Apu Apustaja, a new memecoin making waves in the industry, has announced impressive support from its rapidly growing community, including over 11,650 coin holders and more than 13,000 Telegram channel members. Leading a revolution in the sector, which sees frog memecoins replacing dog-themed coins. Behind its sudden surge in popularity are a highly enthusiastic community and an expert development team.

Apu also announced it has purchased APU.COM, which will become its official website with an imminent move from the former Apu.community domain. The event marked an important milestone in the project’s development as the new, ultra-rare domain will help it surge in brand awareness, authenticity, and recognition.

Apu Apustaja is a popular internet meme that translates to “Help Helper” in English and originates from a Finnish imageboard. Those with lesser knowledge of meme characters may mistake Apu for Pepe, another famous frog meme that spurred the now highly popular memecoin, Pepecoin. While the two characters have similar designs, Apu bears evidently different features, including softer lines, a somewhat sad expression, and a childlike appearance. Some would say that Apu is to Pepe what Shib is to Doge.

Moreover, the project secured listings for the $APU coin on MEXC, Bitget, Bitmart, Gate.io, BingX, CoinEx, and LBank Exchange. The team notes a partnership with a market maker and also that they passed an audit with Metatrust. Now, the team is actively focusing on its marketing efforts and building Apu’s presence on social media and beyond. Since the project did not have a marketing-dedicated wallet, most of its brand-building marketing comes from Grassroots campaigning and community funding.

Other important achievements for Apu include launching The Book of Apu, a comprehensive story of the meme’s lore developed by the community. The project also published its official whitepaper.

The $APU coin has a total supply of 420.69 billion coins, with 82.79 billion already burned. The coin’s tokenomics model does not charge any BUY or SELL taxes and reserves 100% of the total supply for liquidity providers.

About Apu

Apu, also known as Helper, is a new memecoin project seeking to establish a standout presence in the increasingly competitive memecoin niche. Apu has no IP or copyright. The project is quickly developing a loyal fan base, including memecoin enthusiasts, investors, liquidity providers, and contributors. The team refers to this growing community as “frens” and pledges its commitment to a fair and transparent evolution for Apu.

Apu Coin has an ambitious four-phase roadmap ahead. In fact, the project has already completed the first phase, which included the project’s launch, DEX listings, reaching 1,000+ holders, and community takeover. Now, the project is in the second phase, which includes CEX listings, strategic partnerships, and boasting over 10,000 holders. In the future, Apu aims to release original merch, an NFT collection, and reach over 100,000 holders.

The $APU token is currently for sale on Uniswap, where interested buyers can purchase it for ETH simply by connecting their wallets.

Users can follow the project and stay up to date with its development at these links: Website | X (Twitter) | Telegram | Instagram

Apu 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

Jim Jonestowncontact@apu.community

The post Apu Memecoin Soars, Reaching 11,600 Token Holders with Strong Community Support appeared first on CoinChapter.

Bermuda, Bermuda, May 27th, 2024, Chainwire

HashKey Global announced the launch of LaunchPool and initiated the first project Polyhedra Network（ZK) pledge to earn campaign, aiming to create a new trading and participation model, enhance user engagement and loyalty, and provide a platform for promotion and development for emerging projects.

HashKey Global’s Launchpool platform offers users an alternative cryptocurrency pledging solution. Users may pledge their existing cryptocurrencies to the pool and may redeem tokens at any time, adjusting their investment strategy flexibly to adapt to market changes. This platform not only provides projects with the opportunity for initial token distribution, enhancing their visibility, but also allows investors early access to innovative projects and potentially earning rewards through pledging.

As the flagship global digital asset exchange under HashKey Group, HashKey Global provides licensed digital asset trading services to users worldwide (save for restricted countries and regions). HashKey Global has been granted a license from the Bermuda Monetary Authority (BMA). HashKey Global Launchpool is the first platform of its kind among globally licensed exchanges to offer pledging for new coins. HashKey Global’s Launchpool platform provides investor asset protection and compliance measures such as AML, KYC, and KYT.

In recent times, Ethereum assets have gained further recognition in the market, with significant progress also seen in Ethereum Layer 2 networks such as Taiko, zkSync, Scroll, among others. HashKey Global Launchpool has launched its first project, Polyhedra Network (ZK), a star project based on zero-knowledge proofs interoperability protocol. It provides users with approximately 325,000 ZK tokens, valued at around $500,000 USDT in total, as rewards. The event runs from May 30th to June 4th, 2024.

For more details users can visit: https://support.global.hashkey.com/hc/en-us/articles/14133227056796-Introducing-1st-HashKey-Launchpool-Polyhedra-Network-ZK-Stake-USDT-to-Earn-from-325-000-ZK-Prize-Pool

About HashKey Global

HashKey Global is one of the flagship global digital asset exchanges under HashKey Group, offering licensed digital asset trading services to users worldwide. HashKey Global has obtained a license from the Bermuda Monetary Authority with the potential to provide mainstream trading and service products such as LaunchPad, contracts and leverage trading.

For more details, users can visit global.hashkey.com

Users can follow HashKey Global on Twitter, Discord and Instagram.

Disclaimer: In compliance with local regulations, HashKey Global does not offer services to individuals in the United States, mainland China, Hong Kong, and certain restricted countries or regions. This material is for informational purposes only and is not intended to be distributed or relied upon by individuals in Hong Kong. This material does not constitute an offer to buy or sell any financial products, nor should it be considered as investment advice. Investing in digital assets involves risks. Investors should not make investment decisions based solely on this press release, but should carefully evaluate their suitability to participate in any investment products based on their own investment experience, investment objectives, financial situation, and other relevant conditions.

Contact

Senior PR ManagerLunaHashKey Globalluna.wang@hashkey.com

The post HashKey Global Launchpool, the world’s first regulated platform for pledge to earn new tokens, is now live appeared first on CoinChapter.

Binance Nigeria Read CoinChapter.com on Google News

LUCKNOW (CoinChapter.com) — Tigran Gambaryan, a senior Binance executive detained in Nigeria, collapsed during a court hearing at the Federal High Court in Abuja. He had appeared in the court trial centered around alleged foreign exchange violations and money laundering offenses brought by the Nigerian Economic and Financial Crimes Commission (EFCC) on May 22.

Source: X

According to local media reports, Gambaryan had already informed the court that he was unwell on the morning of May 22. This caused him to miss a separate arraignment over tax evasion allegations brought by Nigeria’s Federal Inland Revenue Service (FIRS). However, he did make it to the Federal High Court for the money laundering case against him. 

Sudden Collapse or Deliberate Action?

During the money laundering court proceedings against Binance, the court registrar called the case. Gambaryan failed to respond, remaining seated in the back row. Judge Emeka Nwite noticed the executive’s absence and sought an explanation. In response, Gambaryan’s lawyer, Mark Mordi, then assisted him to the dock.

However, in a shocking moment, Gambaryan suddenly collapsed before making it to the dock. His lawyer had to help get him seated in the front row. Mordi explained to the court that a written application detailing Gambaryan’s poor health condition had been submitted prior.

Binance Trial Adjourned in Nigeria — Bail Denied

Citing Gambaryan’s sudden collapse, his lawyer requested an adjournment to allow the Binance executive to receive medical treatment. Mordi argued it would be “untenable” to proceed with the case given his client’s medical emergency.

Subsequently, the court set June 20 and 21 for cross-examination and the trial’s continuation. On May 16, the judge had denied Gambaryan’s request for bail. Emeka Nwite raised the EFCC’s concerns that Gambaryan posed a flight risk if released from the Kuje Correctional Centre, where he is currently detained.

Gambaryan was transferred to the Kuje Correctional Centre in Abuja in April 2024 after pleading not guilty to the money laundering charges brought against him by the EFCC.

You Might Also Like: Binance Fired Employee Who Found Evidence Of DWF Labs’ Inappropriate Activity — Report

Binance CEO Alleges Coercion Attempt

More broadly, the Nigerian government has accused Binance of improperly influencing foreign exchange rates through its cryptocurrency trading operations. In March, the FIRS filed tax evasion charges against Binance and its executives, Gambaryan and Nadeem Anjarwalla. The charges included failure to register with the FIRS, failure to pay company income tax, failure to pay value-added tax, and facilitating tax evasion.

The legal issues have culminated in Binance’s effective exit from the Nigerian crypto market. On March 5th, Binance announced it would cease all transactions denominated in the Nigerian naira currency. It had already delisted all naira trading pairs on its peer-to-peer platform in late February.

In a statement, Binance CEO Richard Teng alleged that during meetings in early 2024, Nigerian authorities had improperly tried to coerce the exchange’s representatives into an off-the-books settlement paid in cryptocurrency.

The post Binance Executive’s Sudden Collapse During Court Trial in Nigeria appeared first on CoinChapter.

cryptocurrency news of the day

Here is the top crypto news of the day curated by CoinChapter.com.

TON Blockchain’s TVL Surpasses $300 Million

The total value locked (TVL) of the TON blockchain crossed the $300 million mark for the first time, representing an over tenfold increase since early March. The network’s ongoing ecosystem initiative, The Open League, has contributed to this surge.

The Open League incentive program rewards users of TON’s top decentralized applications. Since its rollout, the network’s TVL has skyrocketed from $23 million in early March to $315 million.

Source: DeFiLlama

The rapid TVL growth has been primarily fueled by decentralized exchanges such as Ston.fi and Dedust, as well as liquid staking projects like Tonstakers and bemo.

You Might Also Like: Toncoin Surges Amid Growing Adoption, Eyes $9 Target by June

Crypto News: Normie Memecoin Team Negotiates with Hacker, Token Plunges 99%

The team behind the Base memecoin Normie (NORMIE) has confirmed negotiations with a hacker who exploited a vulnerability in the project’s smart contract. This exploit led to a $41.7 million plunge in NORMIE’s market cap within just three hours.

According to blockchain analytics firm Lookonchain, the hacker reached out to Normie’s deployer address on May 26 with an offer to return 90% of the stolen NORMIE tokens.

Source: Lookonchain

The Normie team reportedly accepted the offer on the condition that the stolen funds and $2.3 million from their development wallet would be used to launch a new token to reimburse NORMIE holders.

The hacker also demanded no reprisals and insisted that the token re-launch must occur before the funds are returned.

In the aftermath of the exploit, NORMIE’s price plummeted by 96% within an hour. It dropped from its initial value to $0.0032.

Source: Coingecko

Over the next two and a half hours, the price fell further, reaching a 99.5% decline.

Another Crypto News of the Day: Friend.tech Token Drops Over 20%

The native token for the Web3 social network Friend.tech, FRIEND, experienced a sharp decline of over 20%. This happened after one of the protocol’s co-founders, known pseudonymously as Racer, publicly expressed a desire to migrate the project off Base, the Ethereum Layer-2 network that hosts Friend.tech.

Racer cited a rocky relationship with the Base team and community. He said that “Farcaster investors went apeshit smearing us when we launched because they misunderstood what we were doing. Pushed it really hard on their team and users and the relationship has been downhill since then with us getting ostracized from anything that is for the ‘Base community’.”

In response, Jesse Pollak, who heads Base for Coinbase, acknowledged that Friend.tech’s team had felt “isolated and disconnected” from certain parts of the Base and Ethereum ecosystems. However, he expressed respect for whatever path the team decides to take.

Following Racer’s posts, the FRIEND token registered a decline of around 20%. 

Cristiano Ronaldo Launches 4th NFT Collection

Football superstar Cristiano Ronaldo has announced the launch of his fourth non-fungible token (NFT) collection. Inspite of facing $1 billion lawsuit over Binance ads, Ronaldo announced this partnership with Binance.

Source: X

The new collection, set to launch on May 29 on the Binance NFT Marketplace, will celebrate Ronaldo’s illustrious career and feature highlights from throughout his storied journey.

Cristiano has not disclosed number of NFTs and pricing details. Yet, the post stated that the price for each “Normal NFT” will be the same. Additionally, the “final Super Rare NFT” in the collection will have a different pricing structure.

Former CEO Pleads Guilty After Losing Kansas Bank’s $47M in Crypto Scheme

The former CEO of Heartland Tri-State Bank in Elkhart, Kansas, Shan Hanes, has pleaded guilty to embezzling millions of dollars and causing the bank’s failure.

According to court documents, Hanes pleaded guilty to one count of embezzlement by a bank officer. From May 2023 to July 2023, he sent 10 wire transfers totaling $47.1 million of the bank’s funds to an unidentified crypto wallet.

The court sentenced Hanes with a maximum of 30 years in prison.

Follow CoinChapter to read the top crypto news every day!

The post Top Crypto News Of The Day: TON Blockchain, Normie Memecoin Hack, and More! appeared first on CoinChapter.

MAOCAT, the first cat-themed memecoin on Ethereum, announced the first results of its newly-begun presale, which has exceeded all expectations. The pre-launch event for the $MAO coin has already raised over $300,000 after memecoin fans bought over 66% of the 1,300,000 $MAO (+ 20% bonus).

The initial success of the $MAO presale has taken the memecoin community and even the MAOCAT team by surprise. The up-and-coming project put up 60% of the 5 billion MAOCAT token supply up for sale before the coin’s official launch. Moreover, the presale event will take place over 10 phases stretching across the next month and a half.

Interested buyers can join the presale for $MAO tokens here.

The team announced that all the unsold coins subject to the presale will be burned at the event’s end. This practice should see a value spike for the token, considering its subsequent scarcity. As a result, early adopters have the opportunity of boarding a project with considerable potential and an already rising popularity.

The MAOCAT tokenomics plan is well-defined with several benefits for $MAO holders. For instance, users will not have to pay any Buy or Sell taxes within the MAOCAT ecosystem when using MAO tokens. The only transaction fees will go toward marketing (3%), the liquidity pool (3%), and development (2%). These small percentages on each transaction help the project grow and thrive into a sustainable and far-reaching DeFi ecosystem.

Meanwhile, the team will use the remaining 40% of the token supply to fund other initiatives that will help MAOCAT gain more traction in the crypto industry. The memecoin sector is already a highly competitive niche, but the MAOCAT developers believe the first Ethereum-based cat has what it takes to succeed.

More precisely, MAOCAT seeks to become a standout DeFi ecosystem, incorporating memecoins, NFTs, and farming pools. Users will have plenty of lucrative possibilities to mint, collect, and trade non-fungible tokens. Also, they will access passive income opportunities through the project’s upcoming MAOCAT Swap feature, a liquidity pool with advantageous staking options.

Additional future features include an IDO launchpad for users seeking to launch their own initiatives while harvesting MAOCAT’s increasing utility and popularity. A MAOCAT play-to-earn (P2E) game is also on the horizon, engaging players in fun and exciting quests using $MAO tokens and MAOCAT NFTs.

About MAOCAT

MAOCAT is a new memecoin project seeking to expand past the usually short lifespan of memecoin projects. To this end, it has developed an ambitious roadmap that includes several objectives pertaining to decentralized finance. A unique collection of 10,000 MAOCAT NFTs will also help it enter the NFT niche and cater to NFT collectors and traders everywhere.

For now, the MAOCAT team is focusing on the $MAO presale and its unexpected success. Crypto enthusiasts have nearly one month and a half to join the event, which will increase the token’s price with every new phase. This means that getting early behind the project will enable them to purchase the memecoin at a discount price.

You can connect your wallet to the presale platform and buy $MAO here.

You can learn more about MAOCAT at these links: Website | X (Twitter) | Telegram) | YouTube | Instagram

Disclaimer: This is a press release and does not contain any financial advice. Readers should do their own research before taking any actions related to the company mentioned. You are solely responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release. Cryptocurrency is volatile. 

The post MAOCAT Announces New $MAO Presale with Initial Results Exceeding All Expectations appeared first on CoinChapter.

Key Takeaways:

Bitcoin is consolidating gains above the $66,500 resistance.

BTC/USD cleared a crucial bullish flag pattern with resistance at $67,000 on the daily chart.

The price could start another increase unless it fails to stay above the 50-day simple moving average (blue) and $64,500.

Bitcoin Price Dips: Prime Opportunity for Smart Investors to Buy Low? Read CoinChapter.com on Google News

NEW DELHI (CoinChapter.com) — Bitcoin price is holding gains above the $65,000 pivot zone. BTC might consolidate for some time before it makes the next move higher.

Bitcoin Price Holds Gains Above Support

In the last analysis with a daily chart, we discussed how Bitcoin price showed signs of life above the $60,000 level. A base was formed, and the price started a steady increase above the $63,500 resistance zone. There was a clear move above the $65,000 resistance zone and the 50-day simple moving average (blue) and $64,500.

More importantly, BTC cleared a crucial bullish flag pattern with resistance at $67,000 on the daily chart. The recent Ethereum rally also helped Bitcoin and it pumped above the $70,000 resistance zone.

Bitcoin price daily chart | Source: BTC/USD on TradingView.com

Bitcoin price even spiked toward the $72,000 zone. A high was formed at $71,922 and the price settled well above the 50-day simple moving average (blue). Recently, there was a minor pullback below the 23.6% Fib retracement level of the upward move from the $56,711 swing low to the $71,922 high.

However, the bulls seem to be active near the same bullish flag trend line. The price seems to be consolidating gains above the channel resistance (now support).

Immediate resistance on the upside sits at the $70,000 zone. The first major resistance is still near the $72,000 zone. If BTC price breaks the $72,000 resistance, it could trigger another major upward move. The next key resistance sits at $72,800, above which the price could accelerate higher. In the stated case, the bulls could even aim for a move toward the $75,000 region.

Conversely, Bitcoin price might struggle near $72,000 or $72,800 and start another decline. Immediate support is now near the $67,000 level. The first major support is near the $65,000 zone and the 50-day simple moving average (blue).

The next support is now forming near the $64,300 zone. It is close to the 50% Fib retracement level of the upward move from the $56,711 swing low to the $71,922 high.  

If the bulls fail to protect the $64,300 support, there could be a larger decline. In the stated case, the price might decline toward the $60,500 support.

Overall, Bitcoin is consolidating gains above the key support at $65,000. BTC could soon resume upside above the $72,000 level and test the $75,000 level in the coming days.

The post Bitcoin Price Dips: Prime Opportunity for Smart Investors to Buy Low? appeared first on CoinChapter.

Cardiff, 英国, May 26th, 2024, Chainwire

On May 20, 2024, the Bitcoin Layer2 development team BEVM released the technical yellow paper titled “Taproot Consensus: A Decentralized BTC Layer2 Solution.” This paper details the implementation of Taproot Consensus, leveraging native Bitcoin technologies such as Schnorr signatures, MAST, and Bitcoin SPV nodes to build a fully decentralized BTC Layer2 solution. Taproot Consensus represents a significant leap in native Bitcoin scalability, combining existing Bitcoin technologies innovatively without modifying Bitcoin’s core code.

I. History of Bitcoin’s Technical Iterations

October 31, 2008: Satoshi Nakamoto published “Bitcoin: A Peer-to-Peer Electronic Cash System,” introducing Bitcoin and the concept of SPV (Simple Payment Verification).

January 3, 2009: Nakamoto mined the Genesis Block, launching Bitcoin. The original code used ECDSA for digital signatures instead of the more suitable Schnorr signatures, which were under patent protection at the time. Schnorr signatures retain all the functionalities and security assumptions of ECDSA and can surpass the 15-signature limit of ECDSA, enabling the management of Bitcoin with thousands of addresses without affecting signing speed.

2018: Bitcoin core developers proposed integrating Schnorr signatures into the Bitcoin network.

November 14, 2021: The Taproot upgrade integrated Schnorr signatures and introduced MAST (Merkelized Abstract Syntax Trees), enabling smart contract-like capabilities and decentralized multi-signature management.

The Taproot Consensus solution by BEVM builds on these advancements, combining Schnorr signatures and MAST to manage multi-signature addresses and enable complex business scenarios in Bitcoin Layer2.

II. Overview of the Taproot Consensus Solution:

The yellow paper begins by highlighting Bitcoin’s non-Turing complete nature and limited functionality for smart contracts. It argues for using Bitcoin’s existing capabilities to build a decentralized Layer2 solution rather than modifying Bitcoin Layer1.

BEVM’s Taproot Consensus combines Bitcoin’s Taproot technology (Schnorr signatures and MAST), Bitcoin SPV light nodes, and the BFT PoS consensus mechanism to create a decentralized and consistent Layer2 network.

III. Detailed Explanation of Taproot Consensus Architecture

The Taproot Consensus architecture comprises three main components: Schnorr+MAST, Bitcoin SPV, and Aura+Grandpa.

· Schnorr+MAST: Uses these technologies from the Taproot upgrade to achieve decentralized Bitcoin multi-signature management driven by Bitcoin code.

· Bitcoin SPV: Allows synchronization and verification of Bitcoin transactions without running a full node.

· Aura + Grandpa: Advanced PoS consensus protocols for Byzantine fault tolerance, ensuring high consistency among network nodes.

In the BEVM system, each validator holds a BTC private key for Schnorr signatures. The aggregated public key forms a MAST tree, enabling BTC transfers and inscriptions to the threshold signature address. Validators act as Bitcoin SPV light nodes, synchronizing the BTC network state securely and permissionlessly. Aura+Grandpa ensures the Layer2 network’s security and trustworthiness, with assets managed by BFT consensus.

The operating principle of Taproot Consensus is: “In the BEVM system, each validator holds a BTC private key for Schnorr signatures. The characteristic of Schnorr signatures enables efficient signature aggregation, thereby enhancing the system’s security and efficiency. The aggregated public key Pagg, generated through the Musig2 multi-signature scheme, forms a large MAST (Merkle Abstract Syntax Tree). After generating the root hash of the MAST tree, validators perform BTC transfers and inscriptions to the threshold signature address generated by the MAST tree, enabling the submission of data from the BTC mainnet to the BEVM network. Each validator also acts as a Bitcoin SPV (Simplified Payment Verification) light node, allowing them to securely and permissionlessly synchronize the BTC network state.”

IV. Other Technical Details in the Yellow Paper – True Decentralization

The yellow paper also details the implementation of Schnorr signatures, MAST, Bitcoin SPV light nodes, and Aura+Grandpa, providing a comprehensive technical outline for those interested in Bitcoin technologies. It explains the Musig2 implementation and contrasts with other BTC Layer2 projects like Mezo, which uses the tBTC protocol. Unlike tBTC, which relies on a network of nine signatories, Taproot Consensus integrates multi-signature networks with BFT PoS consensus, achieving true decentralization.

Moreover, the yellow paper explains the implementation process of Musig2 and the differences between other BTC Layer2 projects like Mezo and Taproot Consensus. Mezo’s underlying technical structure is based on the tBTC protocol, which uses Bitcoin multi-signature to construct a threshold signature network, offering strong consistency compared to traditional distributed networks. However, tBTC still relies on a network of nine signatories, whereas a truly decentralized system should be consensus-driven, combining multi-signature networks with BFT PoS (Byzantine Fault Tolerance Proof of Stake) consensus mechanisms. This is the difference between distributed networks and blockchains; distributed networks emphasize distribution but lack Byzantine fault-tolerant consensus, whereas blockchains, while also being distributed networks, are driven by Byzantine fault-tolerant consensus, achieving true decentralization. The Taproot Consensus solution adopts this more advanced design. By integrating Schnorr signatures, MAST, Bitcoin SPV light nodes, and Aura and Grandpa Byzantine fault-tolerant consensus mechanisms, it constructs a highly consistent and secure decentralized Layer2 scalability solution. This integration enhances the scalability and usability of the Bitcoin network and ensures the security and consistency of the BEVM network.

Conclusion

The BEVM team’s technical yellow paper comprehensively describes Taproot Consensus, a Bitcoin Layer2 solution built entirely on native Bitcoin technologies. It respects and innovates on Bitcoin’s original technological direction, making it a true evolution of native Bitcoin scalability technology. As the Bitcoin ecosystem evolves, solutions like Taproot Consensus will be crucial for its development, serving as major cornerstones for truly decentralized Bitcoin Layer2 solutions.

About BEVM

BEVM is the first fully decentralized, EVM-compatible Bitcoin Layer 2 solution. It allows Ethereum ecosystem DApps to operate on Bitcoin, using BTC as gas. BEVM enhances Bitcoin’s utility by providing a secure and scalable platform for decentralized applications. The system integrates advanced consensus mechanisms, cross-chain interaction, and robust data integrity to ensure a seamless experience. BEVM aims to innovate within the Bitcoin ecosystem by offering increased scalability, security, and compatibility with popular Ethereum tools and applications.

For more information, users can visit BEVm’s official website or follow BEVM on Twitter.

Contact

TommieBEVMtommie@bevm.io

The post BEVM Unveils Groundbreaking Taproot Consensus for Decentralized Bitcoin Layer 2 Solution appeared first on CoinChapter.