CoinShares suggests that the recent price decline in cryptocurrencies, triggered by the significant outflows from Grayscale Bitcoin Trust (GBTC) in the US totaling $5 billion, has likely resulted in outflows from digital asset investment products in other regions. According to CoinShares' report, digital asset products in Switzerland and Germany were the most affected during the trading week of January 22 to January 26, experiencing outflows of $59.8 million and $31.7 million, respectively. Additionally, Canadian digital asset products have seen the largest outflows for the month at $209.8 million, followed by Germany and Sweden with $124.5 million and $34.2 million respectively. Only digital asset products from Brazil reported a major inflow last week, totaling $10.3 million.
Join us for an exciting AMA hosted by API3 on January 31st at 16:00 UTC, diving deep into the world of decentralized applications (dApps). Discover how the convergence of data, oracles, and DeFi is shaping the future of the ecosystem. Don't miss out on this opportunity to learn more about API3's mission to deliver traditional dAPI services in a fully decentralized manner, tackling issues of transparency, security, and reliability. Engage with network participants and get involved in the governance of the API3 DAO ecosystem using the API3 token. #CryptoNews
The Securities and Exchange Commission has filed charges against the founders of the HyperFund scheme, Xue Lee and Brenda Chunga, for fraud and unregistered securities offering. The scheme allegedly raised over $1.7 billion from investors worldwide, promising profitable mining operations but ultimately operating as a pyramid scheme with no legitimate sources of revenue. The SEC stated that Lee and Chunga either knew or were willfully ignorant of the scheme's deceptive nature. The collapse of the project in 2022 resulted in significant losses for investors. This case highlights the dangers of noncompliance in the crypto space, where promoters take advantage of the allure of quick profits without adhering to the necessary investor protection measures required by federal securities laws. The SEC filed a complaint in federal district court, accusing Lee and Chunga of violating anti-fraud and registration provisions, and the U.S. Attorney's Office for the District of Maryland has also pressed criminal charges. Chunga has already pleaded guilty to conspiracy to commit securities fraud and wire fraud, agreeing to settle the charges and make court-determined disgorgement and civil penalty payments. This article is for informational purposes only and does not constitute legal, tax, investment, financial, or other advice.
The SuperVerse project is set to make a significant announcement on January 30th, aiming to revolutionize the digital space with advanced NFT functionality and blockchain gaming experiences. It caters to both crypto-savvy individuals and newcomers from the Web2 realm, offering a next-generation NFT marketplace and immersive video games. With a holistic approach, the SuperVerse utilizes modern Web3 technology to create an engaging and inclusive ecosystem, bridging the gap between traditional internet users and the emerging Web3 space. The project's driving force is the SUPER token, which governs and supports various tools and features within the SuperVerse ecosystem, enabling innovation and leadership in the Web3 space. Stay tuned for exciting developments in NFT marketplace technology and Web3 gaming! #CryptoNews
Following the US approval of spot Bitcoin ETFs and guidelines from Hong Kong's Securities and Futures Commission, there is speculation about the launch of a spot Bitcoin ETF in Hong Kong this year. Venture Smart Financial Holdings and Harvest Fund Management have expressed plans to apply for approval. Hong Kong's SFC aims to accelerate the approval process and potentially approve all applications simultaneously. Some experts predict similar performance to the US market, while others believe there may be differences in subscription scale. Hong Kong's spot ETFs may also allow for direct Bitcoin subscriptions. However, no organization has yet applied for a Spot Bitcoin ETF.
Merit Circle, a web3 digital ecosystem for the gaming industry, will be hosting an AMA (Ask Me Anything) on January 31st regarding their latest advancements. With a focus on innovation and utilizing blockchain technology, Merit Circle aims to revolutionize the gaming industry by combining cutting-edge solutions with quality gaming projects. Their ecosystem comprises Merit Circle Investments, Merit Circle Gaming, Merit Circle Studios, and Sphere Marketplace, a gamer-optimized NFT platform. At the heart of this ecosystem is the MC token, which empowers holders to influence DAO decisions, engage in games, trade NFTs, and stake their tokens for enhanced voting rights and additional rewards. Stay tuned for the exciting updates and discussions during their upcoming AMA.
NymVPN, a privacy-enhancing mixnet, will be launching its Alpha version in February. Users will utilize NYM tokens to access the mixnet, which not only improves data privacy but also serves as a reward for mix nodes. Fees collected in NYM are directed towards a reward pool, which will be distributed among mix nodes based on their performance and reputation. Users can also delegate their NYM tokens to mix nodes, validating their reputation and earning a portion of the node's rewards. It is important to note that NYM is not a general-purpose payment mechanism or a traditional cryptocurrency, but rather designed solely for activities within the Nym network. #CryptoNews
Polygon is rolling out a network upgrade on February 6th, which will transition its zkEVM to a Type 2 ZK-EVM. This upgrade empowers developers to effortlessly deploy their Ethereum-compatible code on Polygon zkEVM without making any modifications; it can be simply copied and pasted. The Etrog upgrade is currently being tested on Cardona, the new Sepolia-anchored testnet for Polygon zkEVM, and will go live on the mainnet soon. Users won't need to take any action to continue using Polygon zkEVM once the Etrog upgrade is implemented. Polygon, previously known as Matic Network, is a layer-2 scaling solution for Ethereum that aims to enhance scalability for decentralized applications by utilizing a modified version of Plasma with sidechains. The native token, MATIC, is utilized for payment services and settlement within the Polygon ecosystem. The ultimate objective of Polygon is to overcome the limitations of traditional blockchain networks, such as low throughput, subpar user experience, and the absence of community governance, by leveraging an innovative sidechain solution. #CryptoNews
Fidelity's Bitcoin ETF, FBTC, has seen impressive daily inflows of $208 million on January 29th, surpassing the outflows from Grayscale Bitcoin Trust (GBTC) for the first time since their respective launches. The GBTC recorded its lowest daily outflows, totaling $192 million, demonstrating a 25% decrease from January 26th and a significant 70% drop from its peak outflows of $641 million on January 22nd. This positive trend follows a day of minimal outflows of $95 million on January 11th, which coincided with the conversion of GBTC into a spot Bitcoin ETF. Crypto traders eagerly anticipate a slowdown in GBTC outflows as investors capitalize on the chance to cash out their formerly underwater positions. JPMorgan analysts have suggested that the downward price pressure caused by GBTC outflows is likely to subside. Additionally, data from January 29th reveals that the combined volume of the new U.S. spot Bitcoin ETFs reached $994.1 million, almost double the volume of GBTC, which recorded $570 million in volume. #CryptoNews
Sui has reached a new all-time high, with its token price surging to $1.58, surpassing Coinbase's Base and Cardano in total value locked (TVL). The TVL on Sui has increased by 98% in just one month, reaching $436 million. This growth can be attributed to the expansion of the Sui ecosystem through strategic partnerships with prominent entities such as Alibaba Cloud and Solend. Mysten Labs, the team behind Sui, has partnered with Alibaba Cloud to provide more resources for developers, while Solend has expanded onto the Sui network. Furthermore, the Sui Foundation incentivizes projects and users within the network through infrastructure-friendly tokenomics that utilize SUI tokens. With a market cap of approximately $1.5 billion, Sui has experienced an impressive 80% growth in the past month, according to Token Terminal's statistics. #CryptoNews
Star Atlas, the ambitious MMO game on the Solana blockchain, will be hosting a DAC competition on February 29th. This event will bring together various DACs (Guilds) to showcase their unique qualities and compete for the grand prize of over $26,000 worth of Star Atlas land. As players explore space, mine resources, build ships and colonies, and engage in battles, they can tokenize their actions and earn real money through the game's in-game economy based on cryptocurrencies. With the use of non-fungible tokens (NFTs), players can trade unique digital assets on the in-game marketplace, including spaceships and land plots. Powered by the scalability and low fees of the Solana blockchain, Star Atlas creates a seamless and immersive gaming environment, enhanced by the visually detailed game world crafted with Unreal Engine 5 technology. The in-game currency, ATLAS token, empowers players for various activities in the Star Atlas metaverse. #CryptoNews
Join us on January 31st at 17:00 UTC for a Hedera community call on Discord. This event will feature Hedera's COSO Andrew Aitken discussing our open source strategy, along with Christian Hasker from Swirlds Labs and Solo Ceesay from Calaxy, who will be discussing Davos2024. Hedera HBAR is a decentralized public network that empowers individuals and businesses to create powerful dApps. With its native cryptocurrency HBAR, the network facilitates peer-to-peer payments, micropayment models, and ensures security against malicious actors. What sets Hedera apart is its innovative use of hashgraph consensus, combining the benefits of blockchain with enhanced speed and efficiency to process thousands of transactions per second. This makes Hedera an ideal choice for enterprise use cases. #CryptoNews #Hedera
The US Securities and Exchange Commission has charged the founders of HyperVerse, Sam Lee and Brenda Bitcoin Beutee Chunga, with crypto fraud amounting to a $2 billion Ponzi scheme. According to the lawsuit, the founders operated a pyramid and Ponzi scheme under different names since 2020, with fake crypto mining operations and even hiring an actor to play the CEO. The SEC alleges that investor withdrawals were paid using newer victims' deposits, as the venture had no legitimate revenue. The founders also created Blockchain Global, which went bankrupt owing $58 million. Chunga spent $3.7 million on luxury purchases, while Lee transferred illicit funds to his wallet. The US District Court in Maryland has indicted Lee and Chunga on conspiracy charges, and the SEC has demanded the return of ill-gotten gains. Rodney Burton has also been arrested for his involvement in the fraudulent schemes, with claims of funneling $7.85 million into HyperFund accounts.
@TumblrMichelle “State-owned bank Bpifrance is making waves in the world of crypto with its first investment in lightning-focused bitcoin startup ACINQ.
@NatalieBrenda17 The world needs a standardized regulatory framework for crypto assets, according to a French central banker. This will help prevent regulatory arbitrage and ensure consistent regulation across jurisdictions. #Crypto#Regulation#Standardization
@pelusithaxadoer The filing of 19b-4 amendment forms by all 11 spot ETF Bitcoin issuers is a promising development for the approval of a spot Bitcoin ETF! 🤞🤞🤞 #Bitcoin#ETF#Approval#Crypto