The TON Foundation team announced the launch of an incentive program dedicated to cooperation with Tether.

According to a recent post, 11 million Toncoin (TON) have been allocated to reward early USDT users in the TON network. The campaign aims to encourage the adoption of the stablecoin online.

🔈 @Tether_to’s USDt now available on #TON!Making cross-border payments INSTANT, FREE, and as EASY as sending a text message for @telegram's 900M users.TON Foundation offers 11M $TON in incentives 💸💎Check out this thread to learn more! 🧵⬇️ pic.twitter.com/yvqihsuBR9

— TON 💎 (@ton_blockchain) April 19, 2024

“USDt on TON will be accompanied by fully integrated on-ramps from most fiat currencies globally at launch. Soon, integrated global off-ramps will enable users to withdraw supported fiat currencies directly to bank accounts or cards.”

TON Foundation announcement

The TON Foundation team said five million TON will be allocated to increase rewards in the liquidity pools of the decentralized platforms DeDust and STON.fi. Another five million tokens will be distributed to users using USDT to participate in the Wallet’s Earn campaign.

Toncoin’s 1.2 million tokens will be provided to ensure the free withdrawal of funds through centralized TON partner exchanges. Users can purchase USDT or any other blockchain-based asset and transfer it to TON without commission.

According to CoinMarketCap, Toncoin’s price surged to $7.21 earlier in the day but had fallen to $6.43 per coin at the time of writing. Its market capitalization is $22.3 billion.

Source: CoinMarketCap

TON experienced a significant drop today after Telegram Founder Pavel Durov said the messenger could tokenize stickers. Sticker creators will receive 95% of the income from the sale through the use of the TON blockchain.

You might also like: TON jumps 17% as Tether mints $10m in USDT on TON blockchain

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

As Dogwifhat and The Graph communities explore alternatives amid market fluctuations, Fezoo Exchange emerges as a promising option, offering a feature-rich and stable defi platform during its presale phase.

The cryptocurrency market is in constant flux. Even once-promising projects can struggle. Dogwifhat (WIF) and The Graph (GRT) are no strangers to this reality. WIF, despite a recent surge, remains far below its all-time high. GRT, while experiencing some growth, it has lost its momentum. 

Fezoo Exchange recently launched its presale at a price of  $0.013, and the DEX came out as a promising answer to the limitations of cryptocurrency exchanges.

You might also like: Bitcoin dips to $65k as Fezoo positions itself against Binance and OKX

Dogwifhat: The reality of a once-hot memecoin

Dogwifhat (WIF) has been on a rollercoaster ride recently. While its recent trend may show a positive uptick, it’s a far cry from its all-time high. The meme coin frenzy can be short-lived, raising questions about WIF’s long-term viability. The hype surrounding meme coins often fades quickly, leaving investors holding tokens with limited utility. 

WIF holders see Fezoo as a platform that provides more established DEX functionalities and the potential for growth fueled by real-world use cases.

You might also like: Fezoo’s potential 2000% surge attracts Fetch.AI & Lido DAO investors

The Graph: A promising project in search of wider adoption

The Graph (GRT) holds immense potential within the defi space. Its recent price action is very positive, but not at the heights it achieved earlier. While GRT’s technology offers significant promise for indexing and querying data from blockchain applications, it needs a wider adoption to unlock its full value.

GRT investors want a platform that leverages The Graph’s technology while offering additional features to enhance their holdings. An ideal platform would allow them to not only hold GRT but also explore ways to generate returns on their investment through functionalities beyond just trading. That’s where Fezoo comes in.

You might also like: Fezoo’s exchange platform presale attracts THORChain, Fantom investors 

Fezoo Exchange: A feature-rich platform for strategic investors

Fezoo Exchange presents a compelling alternative for WIF and GRT holders seeking a more interactive and intuitive defi experience. Fezoo offers several advantages that cater to investors of all levels.

Fezoo’s user-friendly interface and advanced features make it attractive. For WIF holders seeking a platform beyond the meme coin hype, Fezoo offers a more mature and feature-rich trading environment where the focus is on positive user experience.

Unlike meme coins focused solely on speculation, Fezoo focuses on real-world use cases within defi. This alignment with utility-driven growth takes Fezoo beyond just trading coins. Users can lend, borrow, and stake tokens to unlock new revenue avenues. 

Fezoo integrates with a vast network of defi applications and trading bots. WIF and GRT holders can earn passive income and benefit from the potential price appreciation of both tokens within the Fezoo ecosystem.

Fezoo DEX has carved a unique position for itself in the crypo-verse. Its presale results and robust feature set position Fezoo as a potential safe haven for WIF and GRT holders. The Fezoo platform fosters secure and efficient trading, empowers users with diverse earning opportunities, and boasts a thriving community.

To learn more, visit Fezoo’s website.

Read more: Bitcoin’s decline drives investors toward Fezoo presale 

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

On-chain token infrastructure provider Hedgey Finance suffered two exploits as attackers leveraged a bug in its token claims contract. 

According to alerts from security startup Cyvers, Hedgey Finance was hacked on April 19 across the Ethereum (ETH) and Arbitrutm (ARB) blockchains. Cyvers reported that the first attack was deployed on ETH’s chain, and hackers stole around $1.9 million in crypto.

On-chain analytics showed that the attacker’s address was funded from web3 crypto exchange ChangeNOW, while stolen funds were swapped into Maker’s stablecoin DAI after the exploit. 

Hedgey Finance issued a notice confirming the incident and said an investigation was ongoing. Users were advised to revoke token claim permission until further notice. 

“We are actively working with our auditors and team to understand the attack and stop any ongoing attacks. We will share more information as we learn more.”

Hedgey Finance team

The protocol allows anyone to create an options market for digital assets, enabling users to buy and sell calls and puts on cryptocurrencies issued on EVM-compatible chains. No listing requirement exists, and users can immediately engage in peer-to-peer ERC20 options trading. 

Hedgey Finance hit on ARB’s network

Shortly after the first alert, Cyvers issued a follow-up notice pointing to a second attack. This time, hackers siphoned $42.8 million and transferred some of the proceeds to Bybit. The attackers leveraged the same Hedgey Finance vulnerability on both Ethereum and Abritrum. 

🚨ALERT🚨Hey @hedgeyfinance, Our system has detected multiple more transactions on #ARB.We tried to reach you out but no one has responded to us.Suspicious address https://t.co/Jp99YtnBVj has executed the same vulnerability on #ARB chain and gained around $42.8M(see… https://t.co/XTTwc8FetH pic.twitter.com/MOD29gwOk3

— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) April 19, 2024

Hedgey Finance’s exploit echoes security veterans’ sentiments that protocols must dedicate additional resources and expertise toward safeguarding defi platforms.  As crypto continues to capture mainstream attention, on-chain security will likely remain a front-boiler topic for industry stalwarts and newcomers. However, statistics show that hacks may be declining. 

Last month, Peckshield noted that crypto exploits decreased by 50%, resulting in smaller investor losses. White hat experts have also provided a help desk to report hacks in real-time and distribute information exploit strategies. 

Read more: Defi white hats SEAL 911 unveil info-sharing tool

In a new document, the U.S. SEC explained why it could pursue Tron Founder Justin Sun.

In an amended complaint against Sun, the SEC claimed that his frequent visits to the United States gave rise to legal action. The Commission said in its updated complaint that Sun spent more than 380 days in the United States between 2017 and 2019. The department also believes Sun manipulated the TRX secondary market through wash trading.

Sun’s business trips included major cities such as New York, Boston, and San Francisco. According to the SEC, entrepreneurs with controlled companies purposefully took actions in the United States directed against them.

“During Sun’s business trips to the United States in 2019, he spent time in various cities, including New York City, Boston, Massachusetts, and San Francisco. Rainberry also rented an apartment where Sun stayed during some of his business trips to the United States in 2019.”

SEC statement

The original lawsuit regarding TRX token wash trading allegations involved an unnamed platform. This time, the Commission clarified that it was a Bittrex exchange.

According to the SEC, Sun personally communicated with the platform team regarding TRX’s listing in 2018. The entrepreneur also personally signed many documents related to the company’s attributes.

The department considered that the fact that Bittrex is based in the United States also confirms the right of jurisdiction over the defendants. The exchange and its head settled the SEC’s claims in August 2023, agreeing to pay $24 million. Before this, Bittrex unsuccessfully challenged the agency’s authority to regulate cryptocurrencies.

In March 2023, the regulator accused Sun and three associated companies of an unregistered offering of securities in the form of Tron and BitTorrent tokens.

You might also like: Justin Sun makes huge moves amid insolvency allegations

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

The crypto market has recovered after a brief pullback today, and Dogecoin has enjoyed an explosive rebound, up 6%.

Meanwhile, the new Dogecoin-inspired meme coin Dogeverse surged past $7.5 million in its presale, hinting that this could be the next crypto to explode.

DOGE bounces as traders take long-term bullish stance

Dogecoin’s recent bounce outpaces the market average. Today, the total crypto market cap is up by 4.6%, while Dogecoin is up 6%.

The DOGE price is also up 17% this month but remains down 23% this week.

It currently has a $21 billion market cap and a $2.4 billion 24-hour trading volume, up 15% from the previous day.

Analysts are looking beyond its short-term price action, instead focusing on the bigger picture.

Max Schwartzman, CEO of Because Bitcoin and prominent meme coin analyst, recently speculated on Dogecoin’s macro potential. According to the analyst, the market is nearing a phase where Dogecoin could extend its share of the total crypto market cap.

You might also like: Dogeverse presale soars, eyeing major gains across chains

The analyst explained, “Look at what happened last cycle when Bitcoin went into clear price discovery! Doge.D (Dogecoin dominance) became much larger.”

He continued, “Doge is the king altcoin… it’s even older than ETH. If DOGE can make a big push up here this quarter, it will drag most all other altcoins with it. IMO, the best is still yet to come, and this is the season of risk we’re potentially entering into.”

Meanwhile, a popular tweet from commentator Rafaela Rigo forecasts Dogecoin will surge to $1 this cycle.

“Price expectation for this cycle is above $1.00.  I would like to see 25X from its lower price point for my first target. The short term is still bearish, and the entry price can be lower. But I am in,” wrote the analyst.

Prominent trader The CryptoBull also anticipates a new ATH for Dogecoin this cycle. 

However, in a nod toward Dogecoin alternatives, The CryptoBull says that “holding solid Dogecoin-betas should not be underestimated.”

One of the most promising new Dogecoin-related projects is Dogeverse. It is undergoing a presale and has raised a whopping $7.5 million in its opening weeks.

You might also like: Nervos, Bittensor, Dogeverse emerge as Wednesday’s lead gainers

Could Dogeverse be the next Dogecoin?

With such momentum already generated, it is easy to see how this newer, lower-market-cap Dogecoin alternative is poised for a bright future.

However, Dogeverse is more than a run-of-the-mill Dogecoin derivative. The new project has made an unprecedented feat, launching on the six hottest smart contract-enabled blockchains.

The move primes Dogeverse for ubiquitous accessibility, ensuring price stability amid the fickle and fast-changing meme coin landscape where traders often hop between chains.

Dogeverse is the only meme coin protected against this risk. Launching on Ethereum, BSC, and Polygon, it will soon bridge to Solana, Base, and Avalanche.

The project’s multichain approach also interconnects the once differential blockchain communities, uniting them under the banner of “Cosmos the Chain Hopping Dog.”

Indeed, with $7.5 million raised so far, this is the perfect time for market participants to secure their tokens before word spreads.

Presale investors can also stake their DOGE20 tokens, earning passive rewards valued at a 143% APY. This yield will decrease as more tokens are staked, so potential buyers should not wait around.

In a two-pronged approach to rewarding early adopters, the Dogeverse presale price will increase throughout the campaign. The next uptick will come in one day or when the total raise hits $7.9 million.

To learn more about this project, visit the Dogeverse presale website.

Read more: Pepe, Shiba Inu, prices pump; New meme coin Dogeverse raises $6M

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

What exactly is surveillance capitalism, and why should you be worried about your online footprint?

Table of Contents

Surveillance capitalism explained

Surveillance capitalism examples

Can crypto really help avoid surveillance?

Real-world applications and future outlook

The future of crypto and surveillance

In today’s digital age, your personal data is a commodity, a cornerstone of what has been termed by Harvard professor Shoshana Zuboff as “surveillance capitalism.” 

#SurveillanceCapitalism ate the world because democracy stood down, failing to protect us from digital violence. Our children are canaries in the digital coal mines unprotected from surveillance, addictive design, dark patterns, behavior modification… Enough is enough. (5)

— Shoshana Zuboff (@shoshanazuboff) August 26, 2022

What is Surveillance capitalism? It is a business model in which tech companies harvest personal data to predict and influence behavior, primarily for monetization through advertising. 

But how does surveillance capitalism work? In this model, your searches, clicks, likes, and even the time you spend staring at your screen are valuable data points that are collected, analyzed, and sold.

For instance, companies like Facebook and Google offer services that many of us use daily. These platforms act as data collection hubs, capturing vast amounts of information about our habits and preferences. 

This data is then used to build detailed profiles that can predict and even influence our decisions and behaviors, often without explicit consent from us.

This model has flourished in the digital age. For instance, in 2023, the digital advertising industry, which heavily relies on user data, was valued at over $602 billion globally and is projected to reach $965 billion by 2028.

What are the benefits of surveillance capitalism? For large companies, surveillance capitalism has clear advantages. It allows them to tailor user experiences precisely and make their services more efficient. This can make customers happier and boost company profits.

As the industry grows, the scale and depth of data collection expand, raising significant ethical and privacy concerns. According to a 2019 Pew Research Center survey, 81% of Americans feel they have little or no control over the data companies collect about them.

In search of solutions to these pressing concerns, blockchain emerges as a promising alternative. 

Blockchain is designed to be decentralized and transparent. Transactions on a blockchain are encrypted and can be verified by any participant in the network without needing access to personal identity information. 

This architecture not only enhances privacy but also limits the ability of any single entity to extract and monetize user data on a massive scale.

Let’s explore how surveillance capitalism works and how crypto and blockchain technology could mitigate the effects of it.

Surveillance capitalism explained

Surveillance capitalism has fundamentally transformed how companies interact with consumer data.

Google’s business model revolves around collecting detailed user data—from search history to YouTube preferences—and utilizing this information to sell targeted advertising spaces.

A 2018 Associated Press investigation revealed that Google tracks location data from smartphones even when users have explicitly turned off location history.

In 2021, advertising accounted for approximately $257.63 billion, or 81% of Alphabet’s (Google’s parent company) total revenue.

Similarly, Facebook leverages its deep integration into users’ social lives to tailor advertisements.

In 2021, Facebook generated nearly $114 billion in revenue from advertising, up from $84 billion the previous year, showcasing the high monetary value of personal data.

Surveillance capitalism examples

A particularly egregious example of surveillance capitalism was reported by The Markup in 2023, which found that a tracking tool called the Meta Pixel had been installed on many of America’s top hospital websites.

This tool collected sensitive health information—including details about medical conditions, prescriptions, and doctor’s appointments—and sent it to Facebook.

On 33 of the top 100 hospitals tested, every click on a “schedule an appointment” button sent Facebook a packet of data linked to the user’s IP address, effectively handing over confidential health information without patient consent.

The Markup’s real-time web privacy inspector, Blacklight, revealed that over 30% of popular websites contain encoded Facebook pixels. During a 2018 congressional inquiry, Facebook disclosed that its pixels have been installed on more than two million websites.

Another infamous example of surveillance capitalism’s risks is the Cambridge Analytica scandal. Investigations found that Facebook allowed the political consulting firm to harvest the data of millions of Facebook users without their consent, which was then used to influence voter behavior in the 2016 U.S. presidential election.

Other firms, like Amazon and Apple, also engage in forms of surveillance capitalism.

Amazon uses customer data not just to sell products more effectively but also to control marketplaces and undercut competitors, a practice scrutinized in a 2021 report by the U.S. House Judiciary Committee.

Apple, despite its privacy-centric marketing, collects large amounts of user data through Siri and iCloud, which are used to enhance user profiling for targeted advertising within its ecosystem.

The implications of surveillance capitalism extend beyond just targeted advertising.

This practice raises looming privacy concerns, as individuals often do not fully understand the extent to which their data is collected, stored, and utilized.

Moreover, the aggregation and analysis of personal data have broader societal effects, influencing everything from creditworthiness assessments to job eligibility decisions without transparent oversight or the opportunity for individuals to contest inaccuracies.

The monetization of private data under surveillance capitalism not only compromises individual privacy but also poses ethical questions about the balance of power between consumers and corporations.

It challenges the very notion of consent, as users must often choose between using essential services and protecting their personal information.

Then, what’s the solution?

Can crypto really help avoid surveillance?

Crypto, by design, offers a novel approach to data privacy that is fundamentally different from traditional financial systems. 

Built on blockchain, transactions in the crypto space do not inherently require personal information such as names or physical addresses, enhancing user anonymity and privacy. 

Bitcoin (BTC) and similar cryptos use public key cryptography to safeguard user identities. Each user has a public address that appears on the blockchain while their true identity remains concealed. 

This method hampers the ability of companies to build comprehensive profiles of individual spending habits—a common practice under surveillance capitalism. 

According to a 2021 research paper, blockchain ensures that personal data cannot be commoditized by third parties without user consent—a major shift away from the current norms of surveillance capitalism. 

Moreover, crypto also opens avenues for creating economic models that move away from advertising revenue and the exploitation of user data.

With blockchain, content creators can receive payments directly from consumers through crypto, bypassing the need for ad-based revenue streams that rely on extensive data mining and personal profiling. 

Crypto-based platforms like the Brave browser offer an innovative example. Brave uses its native cryptocurrency, Basic Attention Tokens (BAT), to reward users for viewing advertisements. 

This opt-in approach not only respects user privacy but also disrupts the traditional ad model by directly compensating viewers rather than using their data as a bargaining chip. 

According to a Brave user growth report, the browser had accumulated over 50 million active users by early 2021, which had grown to over 172 million by April 2023. 

However, regulatory hurdles continue to impact the broader acceptance and use of crypto. 

Different countries have varying stances on cryptocurrency regulation. Some, such as China, banned their use outright, and others, like El Salvador, integrated them into existing financial systems under guidelines. 

These challenges not only complicate user access but also limit crypto’s growth potential as a mainstream tool for combating surveillance capitalism.

You might also like: Chinese traders prosper despite crypto ban. Here is how they evade it

Real-world applications and future outlook

Current implementations 

Blockchain and crypto are making strides in reducing surveillance capitalism. Here are a few ways they’re currently being applied:

Decentralized Identities (DIDs): Microsoft’s ION project on the Bitcoin blockchain lets users create their own digital identities. This reduces the control of personal data by central authorities and decreases the chance of misuse.

Secure healthcare data management: Companies like BurstIQ are using blockchain to protect healthcare data. This technology lets patients control who can see their medical records, keeping the information secure and private.

Private transactions: Cryptocurrencies like Monero (XMR) and Zcash (ZEC) enhance user privacy by masking transaction details. Monero, for example, uses techniques that make transactions anonymous and hard to trace. It has attracted global legal scrutiny, offering a privacy level that traditional financial systems can’t.

Blockchain and AI for data integrity: Integrating blockchain with artificial intelligence (AI) adds another layer to data security. AI analyzes blockchain data to detect fraud and optimize security, while the blockchain ensures that AI-generated data remains secure and unaltered.

You might also like: AI meets blockchain: exploring integration, benefits, and challenges

Future potential

The future of blockchain and crypto in addressing surveillance capitalism includes some promising developments:

Adoption of privacy coins: Increased use of privacy-focused cryptocurrencies could shift how personal data is handled, moving away from traditional data-exploitation models.

Blockchain in consumer data rights: New blockchain projects may allow people to own and monetize their data. For instance, the Ocean Protocol provides a marketplace for secure, transparent data trading, ensuring users are compensated.

Regulation and standardization: Clearer regulations could support the growth of crypto and blockchain, making them safer and more reliable for users.

Integration with IoT: Blockchain’s role in the Internet of Things (IoT) is expanding. It could help secure vast amounts of data generated by IoT devices, from fitness trackers to smart home systems, ensuring this information is used ethically.

The future of crypto and surveillance

Expect greater integration of blockchain across various sectors, extending beyond financial transactions to include healthcare, digital identity verification, and even governance. 

These implementations could diminish the ability of any single entity to exploit personal data as blockchain acts as a barrier against such practices.

Moreover, as public awareness of data privacy issues increases, driven by high-profile data breaches and surveillance scandals, consumer demand for solutions offering greater control and transparency could likely surge.

However, the path forward is not without obstacles. Regulatory frameworks need to evolve to better accommodate and nurture the growth of crypto while ensuring user protection. 

Additionally, the scalability of blockchain technology must be addressed to meet the demands of global usage.

Still, with each step forward in blockchain and crypto innovation, we move closer to a fairer, more secure digital world.

Read more: How big players in crypto can manipulate data

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Pushd’s Stage 6 presale garners significant interest from the Polkadot and VeChain communities, promising enhanced e-commerce solutions and stability in a volatile market.

Polkadot and VeChain communities, known for their focus on stable investments, are lining up for Pushd’s e-commerce platform. In these uncertain times, investors are looking for safe bets, and Pushd’s promise of stability in a growing market is turning heads.

Pushd is shaking things up in e-commerce with unique solutions, and investors are betting it could be a profitable ride. This presale could be a major launchpad for Pushd, establishing them as a frontrunner in the new wave of online shopping.

You might also like: Bittensor sparks interest but Pushd presale steals the spotlight

Polkadot looks to broaden its ecosystem

Polkadot is a new blockchain platform that enables interoperability and scalability across multiple blockchains. Created by Dr. Gavin Wood, one of the co-founders of Ethereum, Polkadot allows different blockchains to transfer messages and value in a trust-free fashion, sharing their unique features while pooling their security.

Polkadot aims to create a decentralized web where independent blockchains can exchange information and transactions seamlessly under one roof.

It uses a sharding mechanism that allows multiple blockchains called parachains to run in parallel. Each parachain can have its own unique characteristics and operate independently yet securely interact with others via the Polkadot Relay Chain.

This architecture enhances scalability by processing multiple transactions on different chains simultaneously and boosts inventiveness by allowing developers to create specific blockchain solutions for different use cases.

You might also like: Ripple and Dogecoin enthusiasts flock to Pushd presale 

VeChain targets enhanced supply chain solutions

Launched in 2015, VeChain aims to use distributed ledger technology to streamline these operations and ensure product quality and authenticity across global supply chains.

By integrating Internet of Things devices with a robust blockchain layer, VeChain provides a secure and scalable framework for collecting and managing data throughout the lifecycle of products.

Its blockchain solution provides unparalleled transparency across the supply chain, allowing businesses to trace products’ origins and history from production to delivery. This transparency not only helps combat counterfeit products but also enhances consumer trust and satisfaction.

VeChain is a blockchain platform that enhances supply chain management and business processes. It sees a natural extension of its capabilities in the e-commerce sector. Investors are drawn to Pushd’s potential to integrate VeChain’s solutions to improve product tracking, verification, and the overall logistics of online retail, areas ripe for innovation and growth. 

You might also like: Cosmos, Solana buyers captivated by Pushd presale

Pushd capitalizes on advanced blockchain functionality

The significant interest in Pushd’s Stage 6 presale from Polkadot and VeChain communities underscores the platform’s potential to stabilize and enrich the e-commerce market. By harnessing advanced blockchain functionalities, Pushd aims to create a more connected, secure, and efficient online shopping experience, attracting investors who value stability and smart solutions in their blockchain investments.

This convergence of technology and market needs places Pushd at the forefront of the next wave of e-commerce evolution.

Pushd facilitates a safer trading environment with its long-term liquidity lock, which ensures that the platform remains financially stable and capable of supporting large volumes of transactions without the risk of liquidity crises. This stability is crucial for maintaining user trust and encouraging continuous engagement with the platform.

The stage six presale is investors’ chance to get in early for $0.144. Analysts predict potential gains of 19x by September, making it an attractive option for those seeking long-term returns.

To learn more, visit the Pushd website.

Read more: Pushd stage 6 wins over Bitcoin Cash, Dogecoin market movers

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

The founder of the Telegram messenger, Pavel Durov, spoke about the future of the TON cryptocurrency.

At the Token2049 conference in Dubai, Durov explained how ordinary Telegram users can use Toncoin (TON). Starting on April 19, the first payments in TON for advertising to Telegram channel administrators will begin. In addition, starting next week, users will be able to leave tips to administrators in TON, with content makers receiving a portion of the income.

Buying and selling stickers in TON as NFTs will also be possible, and sticker artists will receive 95% of the proceeds. Telegram will also have mini-applications where users can buy content for crypto. Telegram users can also share TON with other contacts in correspondence.

“Imagine if someone owned this sticker as an NFT when it came out a few years ago. I think the price increases with the challenge. What we’ve experienced with again, stickers are very, very popular.”

Pavel Durov, Telegram Founder

The founder of Telegram noted that messenger users will also be able to log into their accounts using cryptocurrency wallets. In addition, it will soon be possible to register the rights to an account’s name so users can sell it if they wish.

Per the Telegram founder, all innovations will be available to all users, and no programming skills will be required to use the new functions.

“For the first time in social media history, you can directly own your username, sell it, put it up for auction, buy multiple usernames, and attach them to your account. “

Pavel Durov, Telegram Founder

TON recently appeared on the list of blockchain networks on which the largest stablecoin operates by capitalization. The first rumors about the launch of USDT in TON appeared in early April when a joint speech by Telegram founder Durov and Tether head Paolo Ardoino was announced at a crypto conference in Dubai.

You might also like: Toncoin flips Cardano by market capitalization, reaches new all-time high

In an exclusive interview with Kadan Stadelmann, CTO of non-custodial wallet and atomic swap DEX platform Komodo, we discussed the implications that the upcoming halving might have on Bitcoin and the broader cryptocurrency market.  

The Bitcoin halving is almost here, and all eyes are on the flagship cryptocurrency. This key event will slash block rewards in half, affecting the premiere cryptocurrency’s supply and availability. 

Investors and market observers are currently divided on how such an event might impact Bitcoin’s future trajectory. Some claim that Bitcoin will follow past trends, while others believe this market cycle is different.

Kadan Stadelmann, who has been leading Komodo since 2016, shared a number of insights on the what the future may hold for Bitcoin.

What are your thoughts on this Bitcoin halving? Do you think the halving will drive public interest in crypto?

Each Bitcoin halving is important because it reduces the amount of new BTC mined each block, leading to supply shock. Because Bitcoin halvings have historically kicked off new bull market cycles, there is a lot of optimism surrounding them within the crypto community. As a result of price increases, mainstream media outlets have started to talk about Bitcoin and other cryptocurrencies more positively and more often, which leads to greater interest from retail investors and institutional investors alike.

What about the risks? Will the halving impact the number of miners since the costs per token will double? What effect would that have, if any?

There is a definite possibility that the 2024 halving or future halvings will reduce mining profitability, leading to fewer miners. However, if the price per Bitcoin continues to increase over time, it should at least partially offset the potential losses from the reduced mining reward. We’re also likely to see more large-scale corporate enterprises begin to mine Bitcoin.

Institutional demand has been touted as a key propellent for sparking the 2024 bull run. Do you think the demand is big enough to create a supply shock?

There is enough institutional demand to create a supply shock. From the demand side, the inflow of capital into Bitcoin ETFs has been massive. It took just seven weeks to reach the same inflow level that took gold ETFs three years to achieve. MicroStrategy is also ramping up its purchases. On March 11, Michael Saylor announced the purchase of 12,000 BTC for $821.7 million and days later announced plans to raise an additional $500 million to acquire more. From the supply side, April’s Bitcoin halving will reduce new supply issued by one-half. Combined, these events are enough to create a major sense of FOMO among investors.

Do you mean the demand is already priced, or is it yet to kick in?

During the early part of the current market cycle, it appears that retail demand is lagging behind institutional demand. However, it’s also possible that a large percentage of retail demand from this cycle is being met by spot Bitcoin ETFs. In other words, there is potentially a cohort of first-time crypto investors who have chosen to purchase Bitcoin indirectly via ETFs, rather than via crypto exchanges.

And do you think the halving will inspire confidence among retail investors?

Generally speaking, the halving inspires market confidence for a couple of reasons. First, it’s a counter-narrative to fiat currency. Investors know that Bitcoin is becoming more deflationary, consistently every four years. Meanwhile, fiat currency is becoming more inflationary on a regular basis, as demonstrated by this week’s disappointing US economic numbers (CPI and PPI). Second, the entire crypto market is usually propelled by the success of Bitcoin. Bitcoin typically gains more market value post-halving, leading to a lot of media attention. As a result, so do numerous other cryptocurrencies.

We have seen in the past that altcoins always tend to follow Bitcoin. Do you see any particular altcoin benefiting from the halving?

It’s difficult to pinpoint one specific cryptocurrency that is likely to benefit the most from the Bitcoin halving. Rather, the vast majority of cryptocurrencies will likely go up in value sometime during the second half of 2024 and through early 2025. When deciding which cryptocurrency to buy, it’s crucial to look at whether it offers long-term value — independent of crypto market trends — by considering factors such as tokenomics, technology, and use cases.

You might also like: Bitcoin mining stocks continue to slump ahead of halving

Coming to the most anticipated question, how do you estimate the price of Bitcoin to respond after halving? Let’s say after a 3-month or a 6-month period.

BTC may trade sideways for 3 months after the halving, due to sell-offs from miners. However, across the longer term (i.e. 6 to 12 months), BTC price should increase if the historical post-halving trend repeats itself this cycle. I expect this bull cycle to go strong through 2025, and would not be surprised to see it continue up from there with the institutional demand being seen so early.

And what about the more immediate implications of halving the Bitcoin price?

The price of Bitcoin is highly volatile, leading up to the halving. Although the market looks very bearish at the moment, this has been the norm around previous halvings. During the post-halving period, just when people think Bitcoin will remain dormant or even bearish, the market historically wakes up extremely quickly.

So, are you bullish on Bitcoin?

I am bullish on the mid to long-term future of Bitcoin. Based on the current amount of new adoption among institutional investors and the proliferation of spot Bitcoin ETFs, Bitcoin may reach $100k by the end of the year. After a major Bitcoin rally starts, we are likely to see a market-wide rally for most altcoins later this year or early 2025.

Read more: Arkansas State House passes bills to limit cryptocurrency mining

Tether has allegedly minted $10 million in its largest stablecoin by market value on the TON blockchain in a move signaling potential expansion.

Tether Holdings Ltd.’s USDT, the world’s largest stablecoin, is now available on the TON blockchain, as the firm’s transparency report indicates an issuance of $10 million on the network. As of press time, Tether made no public announcement on the matter.

Tether’s transparency report | Source: Tether

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With the latest expansion, USDT is now availalbe on 16 networks, including Solana, TRON, and Avalanche among others. Amid the news, TON’s native token Toncoin jumped by over 17%, surging to $7.15, according to data from CoinMarketCap.

The move comes shortly after Tether announced reorganization plans to expand into other areas besides stablecoins. In an Apr. 18 announcement, the firm said it plans to change its structure into four divisions and unveiled a new vision to expand beyond the stablecoin sector.

This is a developing story. Stay tuned for updates as more information becomes available regarding Tether’s integration of USDT on the TON blockchain.

Read more: Tether again mints 1b USDT on Tron network

Spectra Chain’s native token, SPCT, experienced a significant decline, plummeting 43% on Friday morning following emerging allegations of a potential rug pull by its team.

At the time of writing, the token was trading at $0.0094, marking a 27% fall within the last 24 hours.

SPCT 24-hour price chart | Source: CoinMarketCap

Previously reaching an all-time high of $0.05065 on April 9, 2024, the current price of SPCT is now 81.66% lower than its peak.

Spectra Chain, which recently launched its Layer 2 solutions on April 16, is known for its Proof of Stake consensus mechanism designed to improve scalability, lower transaction costs, and enable the development of complex smart contracts. The ecosystem also comprises a Chain Explorer for enhanced transparency and security, a Decentralized Exchange (DEX), and an NFT Marketplace for digital asset trading.

However, the community’s confidence was shaken when several SPCT token holders reported on social media platform X that the official Telegram channel of Spectra Chain had been abruptly closed.

Did @SpectraChain closed the telegram channel ? Or they blocked me ? Can anyone please confirm ?

— coinco (@SURAJ_041) April 7, 2024

Further aggravating the situation, a user identified as ‘lean’ alleged that the founders of Spectra Chain were previously involved with other projects known for similar fraudulent activities.

The user found apparent connections between the founders of Spectra Chain and those involved in VC Spectra, a project previously identified as a rug pull.

He went on to suggest that the project might soon face a collapse, particularly if the team’s promised transparency or “team dox” is proven to be deceptive or indefinitely delayed.

same devs as Gambit (rugged), VDZ (rugged) and NEX (slow rugging). SCAM!

— Diamond Pearl (@LoveAlwaysot5) April 18, 2024

You might also like: Solana-based meme coin team suspected of nearly $1m rug pull

Per a Dec. 21 Medium post by a private investigator, Michael Gugliotti, VC Spectra has been evading multiple launch dates and adjusting their token goals on their website, which further compounds the mistrust.

Gugliotti mentioned, “After an interaction with someone claiming to be the accounts manager, a client of mine found their account suspended and all forms of communication cut off. We have since reported this as a fraud to agencies including the FBI, FTC, and SEC.”

This situation is not isolated within the crypto industry. For instance, on April 15, Grand Base’s token value dropped nearly 100% following an incident where the protocol’s deployer minted millions of new tokens.

The sudden increase in token supply led to suspicions of a rug pull, which were later attributed to an exploit by the project’s spokesperson via a Telegram channel statement.

Read more: AssangeDAO sparks rug pull concerns with suspicious transfers

Learn how to earn defi passive income by lending crypto, including Bitcoin, on decentralized finance platforms.

Table of Contents

Generating passive income on Bitcoin

What is defi lending?

How does defi lending work?

How to choose a defi lending platform

How to sign up for a defi lending platform

Risks of lending crypto

Final thoughts

One of the biggest buzzwords in the crypto space today—defi, short for decentralized finance—has made finance cool again. Apart from making financial products decentralized and easily accessible to users from all walks of life, defi platforms also offer them the option to generate passive income from their crypto holdings, including Bitcoin (BTC).

In a previous live Q&A broadcast, prominent crypto personality Andreas Antonopoulos shared the best ways to generate passive income with defi on your Bitcoin.

Generating passive income on Bitcoin

Crypto is known for its ups and downs, which has led to the rise of hodling. This term, originating from a typo in a Bitcoin forum back in 2013, describes crypto owners who cling to their assets regardless of market conditions.

It is now possible to lend your Bitcoin or other cryptocurrencies to defi protocols based on the Ethereum (ETH) blockchain, which offer attractive interest rates on the lent crypto.

Lending Bitcoin is one of several ways to earn defi passive income, turning your crypto stash into a business opportunity. According to Antonopoulos, through defi, one can put their crypto holdings to productive use. Specifically, one could lend their Bitcoin to a defi platform such as MakerDAO and start earning interest on it.

The tech entrepreneur added that by using defi smart contracts, one could convert their BTC into Ethereum or other cryptocurrencies and subsequently put it on a platform where it could be lent out.

Through crypto lending, hodlers and other crypto users can earn interest by lending their digital currencies. For comparison, traditional savings accounts at banks are currently offering an average annual percentage yield (APY) of around 0.57%. With crypto lending, the potential to earn significantly higher interest on your crypto assets without selling them is on the table.

Moreover, crypto lending platforms simplify the process of taking out loans by using digital assets as collateral.

If you’re interested in knowing how to make money with defi through crypto lending, this article should be a good place to start before you dive in.

What is defi lending?

Defi lending involves lending your crypto to a decentralized finance platform and receiving interest on the loaned amount. Like in traditional finance, some people want to put their assets to work while others need to borrow. 

Decentralized lending platforms facilitate these connections between lenders and borrowers, allowing you to make money with defi by lending crypto while managing your risk.

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How does defi lending work?

Defi lending, akin to traditional lending, is usually facilitated through institutions that act as intermediaries by finding borrowers for your loaned funds. These platforms then distribute the interest earned from these loans to you as yield rewards.

You’ll earn interest in the form of APY whenever you lend your Bitcoin, Ether, Dai, or whatever other digital asset you hold. It operates similarly to how APY works with traditional savings accounts at banks. However, crypto APYs tend to be higher due to the increased risk associated with the asset class.

APY accrues during the period when your crypto is deposited with a decentralized lending service. To maximize APY, some platforms may require you to lock up your crypto for a specific duration, during which you won’t be able to access or withdraw it.

Your loaned crypto is provided to borrowers, who, unlike traditional lenders that assess a borrower’s creditworthiness through factors like credit scores, must deposit collateral to ensure loan repayment.

This setup means you don’t need to worry about losing your loaned funds if borrowers default, as crypto loans are typically fully secured by collateral originating from your funds.

How to choose a defi lending platform

The decentralized lending space is booming, and there are numerous names you could pick from to make money with defi. However, not all lending platforms are created equal. While they all offer returns on invested tokens, you’ll need to consider differences in APYs, lockup terms, and supported assets, among others, before you decide where you’ll lend your crypto.

Here are some key considerations when choosing defi projects for passive income:

Security: When entrusting your crypto to a third party for custody, you must consider the platform’s security. While defi platforms endeavor to have the best security features, they are not immune to hacks or technical glitches. Therefore, it is essential to do your due diligence before choosing a lending platform.

Fees: Lending platforms deduct some of the fees when loaning out your funds. These fees are often included in the interest payouts and may not be explicitly stated. It’s important to compare platform costs and be aware of potential hidden fees, especially with higher APYs.

Lockup rules: Certain platforms also mandate locking up your crypto for a set period while it’s loaned out. Lockup periods often offer higher APYs compared to flexible lending terms. Ultimately, it is up to you to choose what works best for you, whether flexible terms or fixed lockups.

Annual percentage yield: With your main interest being defi passive income, a platform’s APY rate should be of great importance to you. Since they usually offer varying APYs for your loaned crypto, comparing these rates and balancing them with other factors is crucial.

Yield terms: Different platforms also have distinct schedules for interest yield payouts and handling new fund inflows. Some may pay interest after every 30 days or after every seven days, while others do so daily. Some platforms may allow additional fund deposits at any time, while others have specific periods. Consider all these things as you pick a defi lending platform.

How to sign up for a defi lending platform

While different defi platforms may have slightly different onboarding experiences for new users, the general steps to follow are broadly similar. Here, we look at what you’ll most likely need to do to sign up for a lending platform: 

First, visit the website of your chosen defi platform and log in or sign up for an account.

After logging in, access the “Lending” dashboard. Here, you’ll usually find information on expected APYs and other details for your cryptocurrency.

If there is a “Details” option, use it to get specific information on the cryptocurrency you wish to lend. Ensure you understand the batch process before proceeding.

You can transfer your crypto to the lending platform by locating it in the “Balances” section of your dashboard and clicking “Deposit” beside it.

Most platforms offer you the choice of scanning a QR code, copying and pasting a displayed address into your crypto wallet, or using an exchange to transfer your crypto to the lending protocol.

Your transferred crypto should be reflected in your account instantly. 

When ready to lend your crypto, click “Enter” and specify the amount to deposit into a yield-generating program on the platform.

Risks of lending crypto

As Andreas Antonopoulos stated in his Q&A, moving from a Bitcoin platform to an Ethereum platform carries risks.

“You’re going to be moving from Bitcoin to an Ethereum-based platform, and the security isn’t quite equivalent. Ethereum has advantages and flexibility, and it pays a small price in security as a result.”

Antonopoulos further stated that moving funds to defi platforms could expose you to increased gas prices. According to him, such things can cause you to lose some or all of your invested capital.

The author of several best-selling books on cryptocurrencies, including “Mastering Ethereum,” noted that despite the technical robustness of smart contracts, they are still at a very early stage, and it is almost impossible to guarantee that a smart contract has no bugs.

These fears are not unfounded, as, to date, there have been numerous incidents of defi protocols being exploited by sophisticated cyber attacks, duping investors to the tune of billions of dollars.

Other risks associated with lending crypto include:

Regulatory concerns: There is still quite a fair bit of regulatory uncertainty surrounding crypto. As such, regulators could implement new rules anytime that could impact lending viability or require compliance changes during your loan term, thus affecting your defi crypto passive income stream.

Platform risks: As earlier stated, defi platforms are prone to several security challenges. They can be hacked, the team can orchestrate a rug pull where they disappear with user funds, or they could even become insolvent due to the unpredictable nature of the crypto market. Furthermore, unlike traditional finance, funds kept on defi platforms aren’t government-secured. All these can put your defi income at risk, so it is important that you be aware of them and how the platform you choose mitigates against them.

Asset lockup: While lockup periods could result in higher yields and improve your passive income with defi, they also restrict access to your crypto while it’s loaned. It may not be ideal during market fluctuations that could impact potential gains or losses.

Final thoughts

As we explore the world of decentralized finance lending, it’s crucial to balance the potential for defi income with the inherent risks. Defi is undeniably changing how we interact with financial products, offering attractive yields and opportunities to grow our crypto assets. However, it’s essential to proceed cautiously, considering factors like platform security, regulatory uncertainties, and the trade-offs of lockup periods. 

By staying informed, conducting thorough research, and choosing reputable platforms, you can harness the power of defi lending to enhance your passive income-earning strategies using crypto.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Read more: What are crypto airdrops: how they work and where to find them

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

99Bitcoins has launched a new cryptocurrency, raising $500k in early presale days, aimed at powering its unique learn-to-earn platform designed to reward users for their educational engagement in crypto.

99Bitcoins, a prestigious media outlet, has launched a new presale cryptocurrency 99Bitcoins token. The project has enjoyed significant early success as it raised $500k in its opening days.

Investors can still buy in at its presale price of $0.00101, but this will incrementally increase throughout the presale. 

The token will power the project’s new learn-to-earn platform, which rewards individuals for learning about cryptocurrency.

You might also like: 99Bitcoins raises $100k on day 1 of token presale 

99Bitcoins strives for mass adoption with learn-to-earn 

The ingenious learn-to-earn model incentivizes crypto education while providing 99BTC holders with tangible benefits.

However, 99Bitcoins does not rest on its laurels. The project will gamify the learn-to-earn experience to inject excitement and competitiveness. Through its gamification efforts, users can partake in interactive learning modules, quizzes, and tutorials.

Success in these domains gives players higher rankings, enabling them to earn more 99BTC. Users will unlock more rewards as they advance through the platform’s challenges, forging a self-motivating cycle that ensures long-term user retention.

Alongside learn-to-earn rewards, 99BTC holders can also access trading signals, VIP community groups and mentoring, staking rewards, and price appreciation potential.

Specifically, the 99Bitcoins website speculates that the Bitcoin halving’s effect on the BTC price could ignite interest in Bitcoin, drawing more users to the 99Bitcoins platform and 99BTC.

Adding to its price potential, 99Bitcoins is one of the industry’s leading media outlets, boasting an expansive audience across different mediums.

In addition to its vast news site readership, the 99Bitcoins YouTube channel hosts 700k subscribers, and it has over 2.8 million email subscribers. The advent of its learn-to-earn platform could further expand these audiences. 

99Bitcoins’ positive outlook is also enhanced by cutting-edge tokenomics, focused on community incentives and long-term price stability.

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99BTC tokenomics and community rewards

According to its presale website, the 99Bitcoins token has a total supply of 99 billion. 10.5% is allocated to the presale, enabling investors to participate at the lowest price.

Another 14% is withheld for staking rewards. Staking is already live and currently offers a 3,700% APY. However, this generous yield is on a first-come, first-served basis, with the figure decreasing as the staking pool grows.

27.5% of tokens are allocated to the project’s fund to ensure its long-term ecosystem development. Meanwhile, 17% is earmarked for community rewards, 8% for exchange liquidity, and 23% for marketing.

In celebration of the presale, 99Bitcoins launched an airdrop campaign that rewards winners with free Bitcoin. 

$99K worth of BTC is up for grabs, and community members have 11 ways to enter the giveaway. The tasks are simple and involve things like following the project’s social media channels. Readers can learn more about the airdrop on the 99Bitcoins presale website.

The current 99BTC presale price is $0.00101. However, this will rise throughout the campaign, with the next increase coming in four days or when the total raise hits $1.1 million. Therefore, traders seeking the most upside potential should not wait around.

For more information, follow the 99Bitcoins X or join its Telegram to keep updated.

Alternatively, visit its website to buy and stake tokens. To learn more, visit the 99Bitcoins token presale.

Read more: 5 important facts about the Bitcoin halving

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Amid market uncertainty, Altcoin Sherpa remains bullish on Bitcoin’s stability, while meme coins like Dogwifhat and KangaMoon capture investor interest.

According to Altcoin Sherpa, despite the uncertainty in the cryptocurrency market, Bitcoin (BTC) has proven itself to be a stable asset. Meanwhile, Dogwifhat (WIF) and KangaMoon (KANG) continue to soar in the meme coin space. Prominent market analysts hint that KANG, which is now in Stage 5 of its presale, may soar by 100x in 2024.

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Bitcoin price remains in the same range as before

Recently, Bitcoin (BTC) has been facing some turbulence as the Middle East tension sparked a market-wide drop. CoinMarketCap data shows that the Bitcoin price fell from $68,410 to $66,587 in the last 30 days alone. In that period, its market cap also sank from $1.33T to $1.30T.

However, Altcoin Sherpa remains bullish. His new tweet states that Bitcoin crypto is now in the same range as before. He believes that everything is fine overall. The technical analysis of BTC backs this statement, as 15 indicators are in the buy zone. Thus, market analysts have made a bullish Bitcoin price prediction—reaching $85,763 within Q2 of 2024.

Dogwifhat is now listed on OKX

Meanwhile, Dogwifhat (WIF) has gained more traction in the meme coin market. Most importantly, OKX announced a new spot listing for Dogwifhat. This bullish Dogwifhat news may trigger a rally for this crypto. This meme coin’s value grew from $2.64 to $3.04 in the past month. WIF’s market cap rose from $2.53B to $3.03B in that time.

Moreover, the technical analysis for the Dogwifhat crypto shows bullish signs, as its RSI is now in the buy zone. Due to all these reasons, experts in the crypto field predict that Dogwifhat will hit $0.25 before Q2 of 2024 ends. This makes WIF one of the meme coins to watch.

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KangaMoon on pace to hit $5m in ongoing presale

KangaMoon (KANG) is another meme coin making waves in this flourishing sector. This rising crypto has already raised over $4.9m and may reach $6m before April 2024 ends. Furthermore, there are now 20,000 registered community members and 5,800 KANG holders, which shows the level of interest this new meme coin is getting.

Unlike most meme coins, which are essentially hype-driven, KANG stands out as it has actual utility. It will serve as in-game currency for KangaMoon’s upcoming Play-to-Earn (P2E) game. With this meme coin, investors will be able to buy in-game items or character upgrades.

But what makes KangaMoon unique is its focus on giving back to the community. Before its official launch, KangaMoon rewards its most active community members with free KANG tokens. Therefore, countless traders now like and comment on KangaMoon’s social media posts to earn this meme coin without spending anything.

One KANG token now costs just $0.0196 since it is in Stage 5 of its presale. Those that bought it early on are experiencing a 290% ROI. This meme coin aims to tap into the P2E gaming market, projected to reach $885m by 2028. Thus, market analysts predict a potential 100x jump once a Tier-1 CEX lists it in Q2 of 2024.

You might also like: Crypto analyst predicts explosive gains for XRP; Toncoin and KangaMoon dominate the altcoin market

Conclusion

KangaMoon’s market cap is $19.6m, drastically lower than Bitcoin and Dogwifhat’s. This means that KangaMoon may have higher growth rates than other cryptos since it does not need vast amounts of money to increase its prices. With this advantage, KangaMoon could emerge as one of the meme coin titans to buy and obtain a 10% bonus.

To learn more about Kangamoon, visit the website or join the Telegram community. 

Read more: KangaMoon predicted to hit 5,000% in 2024; Sherpa, Solana, Cardano, price forecasts 

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Jeremy Allaire, CEO of Circle, recently discussed USDC’s operations and the growing importance of stablecoins within the global economy. 

“We’re now seeing essentially stablecoin rules coming into place all around the world. And alongside that, that’s enabling us to really expand the market infrastructure that supports USDC,” Allaire said during a fireside chat at Token2049 in Dubai on April 19.

In 2024, regulators worldwide moved to create a regulated environment for stablecoins. While the U.S. saw politicians calling for outright bans, authorities in the EU seemed eager to regular the asset class. According to Allaire, such regulatory frameworks have been advantageous for expanding USDC’s market infrastructure.

Highlighting Circle’s global initiatives, Allaire shared details about Cricle’s plans to set up local banking infrastructures in key financial centers, including Singapore, Hong Kong, and the European Union. 

Further, the CEO revealed that the stablecoin issuer has already started rolling out natively in Brazil and Mexico. 

Circle is “working with dozens of banks and advancing the technology of the protocols.” Circle currently exists on 16 different blockchain networks and protocols, Allaire stated, stressing the technological strides being made. These efforts are significantly enhancing USDC’s adaptability and reach as a stable digital currency.

The Circle CEO also touched upon the evolving role of money as a tool for business and banking efficiencies.

Money as a utility “is going to be hugely valuable for the biggest corporations in the world in developed markets, and it’s going to be hugely valuable in international markets,” Allaire noted, suggesting a shift towards digital currencies that serve broader, more strategic roles than traditional fiat currencies.

Furthermore, Allaire also pointed out the importance of stablecoins in cross-border finance, noting that the role of stablecoins in this area is “very significant.” He went on to tout stablecoins as a means to facilitate a smoother and cost-effective payment channel. 

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The Circle CEO considers this a crucial feature in a globalized economy where financial transactions often span multiple countries.

Per Allaire, Circle’s commitment to technological innovation was evident in its development of new protocols, such as the “cross-chain transfer protocol.” Allaire initially announced this protocol in January 2023 and claims that it enhances USDC’s fluidity across different blockchain ecosystems.

“We’re making that infrastructure faster and easier to use, and then working with developers in hundreds of countries now who are building on top of those protocols and building applications, utilities, and other things to help grow the stablecoin network,” the Circle CEO added.

The fireside chat concluded with a forward-looking discussion about the future challenges and opportunities within the stablecoin ecosystem, prompted by Arslanian’s inquiries about recent market fluctuations and the outlook for digital currencies.

“I think if we’re talking about what’s going to be used for real economic activity that is going to be used by households in terms of financial institutions, you’re going to need to have legal forms of digital currency money, and those are going to be regulated issuers. And those are going to be fully reserved,” Allaire concluded.

Read more: US senators to unveil bipartisan stablecoin legislation

Binance COO Noah Perlman says monitoring agreement with U.S. regulators is now posing challenges for the exchange despite viewing the deal as an opportunity for improvement.

Binance‘s plea agreement with the U.S. Department of Justice, which includes an independent compliance monitor for three years, poses challenges for the exchange to expand its services globally, as the U.S. now acts as an “authorized referee,” according to Binance chief operating officer Noah Perlman.

Speaking at the Token2049 conference, Perlman emphasized the necessity of fostering constructive dialogue with regulators, saying “the key to great regulation […] is being open to collaboration.”

Addressing Binance’s settlement with the DOJ, the Binance COO noted the exchange now has to comply with enhanced requirements, given that the U.S. government now acts as the “imposed-and-authorized referee overseeing compliance” for the exchange.

“Not thrilled to have it, but [we’re] doing it as an opportunity to continue to enhance the programs, procedures we have.”

Noah Perlman, COO Binance

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In November 2023, Binance pleaded guilty and agreed to pay $4.3 billion to settle criminal money laundering charges levied by the DOJ. As part of the agreement, Binance’s founder and CEO, Changpeng Zhao, also pleaded guilty and agreed to step down from his position. Additionally, Binance also agreed to retain an independent compliance monitor for three years and remediate and enhance its anti-money laundering and sanctions compliance programs.

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Discover the synergy between AI and blockchain technology. Explore integration, benefits, challenges, and future trends.

Artificial Intelligence (AI) and blockchain are making profound impacts across various sectors, but their potential is amplified when integrated. 

AI brings advanced data processing capabilities, enhancing decision-making with speed and precision. Meanwhile, blockchain offers a secure, decentralized ledger that ensures data integrity and transparency. 

Together, they create a powerful combination that can address some of the fundamental challenges in technology today.

According to a WSJ report, the integration of blockchain in AI could solve the “black box” problem of AI, where blockchain’s transparency helps demystify AI decisions and makes them verifiable.

Scott Zoldi, FICO’s chief analytics officer, suggests that blockchain can precisely track the data used to train algorithms, providing transparent and reliable records. While it won’t prevent algorithms from exhibiting bias, blockchain offers an auditable trail to understand their behavior.

Interestingly, a survey involving IT decision-makers from the U.S., Europe, and China found that 71% view these technologies as fully complementary, with many noting that blockchain could enhance trust and reliability in AI systems.

Let’s delve deeper into this subject and try to understand what the convergence of AI and blockchain holds.

What is artificial intelligence?

AI is the ability of computer systems to perform tasks that typically require human intelligence, such as recognizing speech, understanding language, making decisions, and identifying patterns. 

AI is not just a single technology but a broad field encompassing various techniques and technologies, including machine learning, computer vision, and natural language processing (NLP).

Machine learning involves training algorithms on data, allowing them to improve their performance over time without being explicitly programmed for each task. 

For example, AI can analyze vast amounts of data to identify trends or make predictions, which is useful in fields like healthcare for diagnosing diseases or in finance for predicting market trends.

Computer vision allows machines to interpret and make decisions based on visual data, helping in areas such as autonomous driving and facial recognition technologies.

Automakers like Tesla, Volvo, BMW, and Audi utilize computer vision in their self-driving cars. This technology allows the vehicles to detect objects, recognize lane markings, and interpret traffic signals for safe travel.

Meanwhile, NLP enables computers to understand and interact with humans in a natural way, which is used in virtual assistants like Siri and Alexa.

In a nutshell, AI’s combined capabilities are advancing quickly, contributing to its integration across various sectors. According to a report by PwC, AI could contribute up to $15.7 trillion to the global economy by 2030, with gains from increased productivity and consumer demand​.

What is blockchain?

Blockchain is a digital ledger technology that records transactions in a decentralized and secure manner. 

It is the underlying technology behind cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) but has applications far beyond digital currencies. 

Each transaction or “block” in blockchain is linked to the previous and subsequent blocks, forming a chronological chain that is nearly impossible to alter. This inherent security feature is why blockchain is highly prized in fields requiring transparency and trust.

To put it into perspective, blockchain is not just about financial transactions; it’s useful in various sectors by enhancing supply chain transparency, securing medical records, streamlining government operations, and so on.

For instance, a blockchain can track the journey of food products from farm to table, ensuring food safety. In healthcare, blockchain helps maintain tamper-proof records, improving patient privacy and trust in the system​.

According to Gartner, blockchain will generate an annual business value of over $3.1 trillion by 2030.

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Blockchain vs AI: how do blockchain and AI work together?

Here is a breakdown of how artificial intelligence and blockchain work together:

Blockchain contribution AI contribution Combined benefit Ensures data immutability and secure, transparent transactions Detects fraudulent activity through pattern recognition Enhances data reliability, aiding in compliance and auditing processes​  Automates contractual obligations with smart contracts Streamlines decision-making by processing data efficiently Improves business processes, reducing time and costs in operations​  Provides a secure and decentralized data storage solution Analyzes and manages vast amounts of data Protects and leverages data for better decision-making and integrity​  Supports loyalty programs and secure customer data management Personalizes customer interactions based on data analysis Creates tailored experiences, increasing customer satisfaction and retention​  Maintains a permanent and transparent record of all transactions Assists in monitoring and ensuring compliance in real-time Streamlines compliance with regulations, ensuring transparency and traceability​ 

Benefits of combining AI and blockchain

AI in blockchain creates powerful synergies that extend beyond their individual capabilities. Here are some examples of how they can work together to improve industries:

Data integrity and security

By securing AI data on a blockchain, industries such as logistics and supply chain management can ensure the authenticity and accuracy of data across the entire supply network. 

This setup can prevent tampering and ensures that records from the manufacturing stage to delivery are intact, which is crucial for compliance and tracing origins in pharmaceuticals​.

Improved decision-making

In the energy sector, integrating AI with blockchain can allow for better management of data across distributed energy grids. 

AI can analyze consumption patterns and predict load demands, while blockchain can ensure the data integrity of meter readings, transaction records, and user data, facilitating accurate and transparent billing and distribution decisions​.

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Automation and efficiency

The real estate industry can also benefit from the automation of land registry and lease management processes. 

Smart contracts on blockchain can automatically execute rental agreements, release payments, and manage property rights transfers. Meanwhile, AI-assisted checks can validate conditions such as payment clearance or contract expiry, reducing the administrative burden​.

Decentralized AI

In media and entertainment, decentralized AI networks on blockchain can allow creators and consumers to interact without intermediaries. 

AI algorithms can personalize user experiences by suggesting content based on viewing habits, while blockchain can provide a platform for transparent royalty distribution and copyright enforcement, promoting fair compensation and reducing piracy​.

Governance and transparency

In the automotive industry, particularly in autonomous vehicles, blockchain can log all sensor and operational data while AI can interpret this data for vehicle performance and safety enhancements. 

The transparent nature of blockchain records can help in audit trails, liability determinations, and compliance with safety regulations, ensuring that AI decisions are traceable and accountable​.

The future of AI and blockchain

The future of AI and blockchain could bring critical changes. Both technologies are evolving, and their integration could enhance operational efficiencies and create new opportunities for innovation.

AI is becoming more accessible and efficient thanks to advancements such as low-rank adaptation, which simplifies the modification of pre-trained models, making it easier for smaller entities to utilize advanced AI capabilities​.

On the blockchain front, the technology is seeing greater enterprise adoption and improved regulatory clarity. This could enable more efficient transactions in several industries in the future.

Moreover, the synergy between AI and blockchain could be useful in the development of virtual environments, such as the Metaverse. 

While AI could enhance the interactivity and realism of virtual spaces, blockchain could ensure the security of digital identities and transactions​.

Overall, critical advancements in both these sectors could reshape digital interactions and business processes across various industries.

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Smart contract platform Nibiru Chain has unveiled a $15 million initiative in NIBI tokens to fuel its developer ecosystem.

Nibiru Chain, a proof-of-stake blockchain backed by HashKey Capital and Kraken Ventures, has allocated $15 million in NIBI tokens as part of the so-called Nibiru Builder Grants initiative aimed at fueling its developer ecosystem. In a press release shared with crypto.news, the developers said the allocated sum is equivalent to ~2.5% of the token supply.

Erick Pinos, ecosystem lead at Nibiru Chain, says the grant will “supplement ongoing aid in partnership pairings and access to mentors, industry experts, and experienced developers.” Commenting on the initiative, Jonathan Chang, COO of Nibiru, told crypto.news the firm wants to lower barriers to entry and create “opportunities for those who may not have access to traditional VC funding.”

“We’re expecting Nibiru’s grant program to propel further growth in tokenization of real-world assets (RWA) — joining projects like Coded Estate which specialises in bringing homes and rentals on-chain, democratizing access to the real estate system; as well as on-chain gaming, where platforms like IntoTheVerse and Chess3 are already building on Nibiru.” Jonathan Chang

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Beyond the initiative, Nibiru also plans to host multiple hackathons with prize pools of up to $100,000 per event. Additionally, Nibiru wants to bring more developers into the ecosystem by introducing a reward mechanism that would allow blockchain creators to earn a portion of transaction fees every time their smart contracts are executed on the Nibiru Chain network.

Following the announcement of the initiative, Nibiru’s native token NIBI surged by over 4%, reaching $0.34, according to data from CoinGecko.

Founded in 2022, Nibiru Chain has secured millions of dollars in funding, propelling its valuation to around $100 million. The blockchain is backed by Tribe Capital, Kraken Ventures, HashKey Capital, Republic Capital, NGC Ventures, and Original Capital, among others.

Read more: Crypto startups lead the charge in February’s $485m VC boom

Google Ads again appears to be promoting a faked version of a crypto website that directs users to a phishing website clone that drains users’ crypto.

Google seems to be once again promoting malware crypto websites through Google Ads, an online advertising platform that allows businesses to display ads on Google’s search engine results pages.

As per a report from BleepingComputer, this time threat actors have found a way to promote a faked version of Whales Market, an over-the-counter (OTC) crypto platform that allows users to trade airdropped tokens. According to the report, the compromised version is being promoted as a sponsored ad atop Google search results. Crypto.news can confirm that as of press time, Google is indeed promoting the fake version of Whales Market.

Fake version of Whales Market promoted by Google Ads | Source: Google

Despite its appearance on the search results page with a seemingly legitimate domain address, users are redirected to [www.whaels.market] instead of the authentic [www.whales.market] upon interaction. BleepingComputer further highlights that the bad actors have allegedly registered numerous domains targeting Whales Market, with at least one domain, [www.whaless.market], already inactive.

The faked clone mimics the interface of the legitimate version of the Whales Market website, tricking users into linking their digital wallets. However, upon doing so, malicious scripts are triggered, draining crypto from victims’ digital wallets.

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The latest incident adds to a series of similar instances where scammers exploited Google’s platform to promote fraudulent services. For example, an unidentified hacker previously duped billionaire Mark Cuban into downloading a compromised version of MetaMask, resulting in the theft of nearly $900,000 worth of crypto.

While the perpetrators behind this latest phishing campaign remain unidentified, Google Google seems to be fighting back against scammers. In early April, the company sued two people from China, Yunfeng Sun and Hongnam Cheung, for using the Google Play store to trick people into fake crypto investments.

While the lawsuit didn’t specify the names of the implicated applications, Google disclosed that it had deactivated 87 fraudulent apps attributed to Sun and Cheung over the past four years, which had collectively garnered nearly 100,000 downloads worldwide.

Read more: Trader loses $800k in crypto to malicious Google Chrome extension

Analysts from JPMorgan Chase & Co and Deutsche Bank AG say the upcoming halving is mostly priced in, shifting focus to how mining will be affected.

JPMorgan Chase & Co and Deutsche Bank AG don’t expect big changes for Bitcoin’s price after the halving, saying the market has already mostly priced in this software update, which occurs once every four years. According to a Bloomberg report, the focus will now shift toward the implications for Bitcoin mining, with expectations of consolidation among publicly-traded firms gaining market share as unprofitable miners exit the network.

“Publicly-listed Bitcoin miners are well positioned to take advantage of the new environment, mainly due to greater access to funding and in particular equity financing. This helps them to scale their operations and invest into more efficient equipment.”

JPMorgan analysts

Similarly, analysts at German financial giant Deutsche Bank also foresee no significant increase in Bitcoin prices post-halving, saying the network’s algorithm has already accounted for the update.

The halving, which reduces the mining reward every four years by half, is anticipated to arrive on Apr. 19 at 22:07 (UTC), according to data from NiceHash. Historically, shortly after Bitcoin halvings, the crypto industry witnessed a decline in the hashrate, indicating a reduction in mining capacity as less profitable miners exit the market, according to Deutsche Bank analysts.

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Despite expectations of limited price volatility, Deutsche Bank maintains a positive outlook on Bitcoin’s trajectory, citing potential catalysts such as anticipated Ethereum exchange-traded funds (ETFs) approvals, adjustments in central bank interest rates, and regulatory changes, all of which could make favorable conditions for the broader crypto ecosystem.

According to Fred Thiel, CEO of Marathon Digital Holdings, the firm’s break-even after the halving rate would hover around $46,000 per Bitcoin to maintain profitability. As of press time, Bitcoin (BTC) was trading at $64,574, representing a 12.8% decrease.

Read more: Miner earns 6.36 BTC on 1 block of Bitcoin as halving approaches