The recent decline in cryptocurrency prices, caused by the significant outflows from the Grayscale Bitcoin Trust (GBTC) in the US, has likely resulted in outflows from digital asset investment products in other regions, such as Europe and Canada, according to CoinShares. Data from CoinShares reveals that during the trading week of January 22 to January 26, digital asset products from Switzerland and Germany experienced the largest outflows of $59.8 million and $31.7 million respectively. However, Canadian digital asset products saw the largest outflows over the month, totaling $209.8 million, followed by products in Germany and Sweden with $124.5 million and $34.2 million respectively. The only major inflow observed last week was from digital asset products in Brazil, amounting to $10.3 million.
Hedera, the decentralized public network, is organizing a community call on January 31st at 17:00 UTC via Discord. During this event, Hedera's COSO Andrew Aitken will delve into the company's open source strategy, accompanied by Swirlds Labs' CMO Christian Hasker and Calaxy Co-Founder Solo Ceesay discussing Davos2024. Hedera's unique utilization of hashgraph consensus sets it apart from other blockchain technologies, providing the benefits of decentralization, distribution, and security while offering enhanced speed, efficiency, and scalability. With the ability to process thousands of transactions per second, Hedera presents an enticing option for enterprise applications. #CryptoNews
SUI has made headlines by hitting a new all-time high, with its token price reaching $1.58. Its impressive performance doesn't stop there, as the total value locked (TVL) on SUI has surged by 98% in just one month, reaching $436 million. This growth has allowed SUI to surpass both Coinbase's Base and Cardano in terms of TVL. The strategic partnerships with Alibaba Cloud and Solend have played a significant role in fueling this surge, providing more resources for developers using the Move programming language and expanding onto the Sui network.
Furthermore, the Sui Foundation has implemented infrastructure-friendly tokenomics, incentivizing projects and users within the Sui ecosystem with SUI tokens. This approach has contributed to SUI's market cap reaching approximately $1.5 billion, an increase of over 80% in the past month. These remarkable achievements highlight the strong growth and potential of the Sui ecosystem in the world of cryptocurrencies. #CryptoNews
Merit Circle, a web3 digital ecosystem revolutionizing the gaming industry through blockchain technology, is hosting an AMA on X on January 31st. Comprising Merit Circle Investments, Merit Circle Gaming, Merit Circle Studios, and Sphere Marketplace, this platform excels in investing in web3 technologies, developing top-notch gaming projects, creating new games, and offering a gamer-centric NFT platform. The MC token serves as the core of the ecosystem, empowering token holders to influence DAO decisions, participate in games, trade NFTs, stake tokens for enhanced voting rights, and earn additional rewards. Join the conversation and explore the future of gaming with Merit Circle! #CryptoNews
Fidelity's Bitcoin ETF has seen a surge in daily inflows, attracting $208 million on January 29th, surpassing the outflows from Grayscale Bitcoin Trust (GBTC) for the first time since its launch. The GBTC outflows dropped nearly 25% from $255 million on January 26th, indicating a potential slowdown in investor withdrawals. This has sparked interest among crypto traders, who are closely monitoring the situation. Furthermore, nine new spot Bitcoin ETFs in the US have generated a combined volume of $994.1 million, almost double that of GBTC, which recorded $570 million in volume.
The leaders of the cryptocurrency investment scheme HyperVerse have been charged by US authorities for defrauding investors with a $2 billion Ponzi scheme. The Securities and Exchange Commission lawsuit alleges that HyperVerse founders Sam Lee and Brenda Chunga operated a pyramid and Ponzi scheme under various names, including HyperFund and HyperTech. They even went as far as hiring an actor to pose as CEO. The scheme relied on using deposits from new victims to pay off withdrawals, as there was no legitimate revenue. HyperVerse's founders also created Blockchain Global, which went bankrupt in 2021, owing creditors $58 million. Chunga spent millions of dollars on luxury purchases, while Lee transferred illicit funds to his wallet. Both founders have been charged with conspiracy to commit wire fraud. Chunga has settled with the SEC, agreeing to a ban on future questionable deals and undisclosed fines. The SEC is demanding that all ill-gotten gains be returned. The collapse of HyperVerse is reminiscent of other failed crypto investment scams.
Polygon will release a network upgrade on February 6th, which will upgrade its existing zkEVM to a Type 2 ZK-EVM. This upgrade will allow developers to seamlessly deploy their code on Polygon zkEVM, similar to Ethereum, without making any modifications. The code can be easily copied and pasted. The Etrog upgrade is currently available for testing on Cardona, the new testnet for Polygon zkEVM. Once the Etrog upgrade goes live on the mainnet, end users will not be required to take any action to continue using Polygon zkEVM. 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 Polygon token MATIC is used for payment services and settling transactions within the Polygon ecosystem. The objective of Polygon is to overcome the limitations of traditional blockchain networks by leveraging innovative sidechain technology, addressing issues such as low throughput, poor user experience, and lack of community governance.
Star Atlas, an ambitious MMO game on the Solana blockchain, is organizing a DAC competition on February 29th. Different DACs will compete to showcase their unique qualities and vie for the grand prize of $26,000 worth of Star Atlas land. The game offers players the chance to explore space, mine resources, build ships and colonies, and engage in battles with other players. With an in-game economy based on cryptocurrencies, players can earn real money by participating. Star Atlas utilizes NFTs to create unique digital assets, including spaceships and land plots that can be traded on its marketplace. By leveraging the scalability of the Solana blockchain and using Unreal Engine 5 technology, Star Atlas creates a visually detailed and immersive gaming experience. The ATLAS token acts as the in-game currency, offering players various functionalities within the metaverse.
NymVPN alpha, set to be released in February, introduces NYM tokens as a means for users to enhance their data privacy within the mixnet. Furthermore, these tokens serve as rewards for mix nodes, based on their performance and reputation, with fees collected in NYM contributing to a reward pool. Users also have the option to delegate their tokens, validating a mix node's reputation and earning a share of the rewards. However, it is important to note that NYM is not a general-purpose payment mechanism or a typical cryptocurrency, limited solely to activities within the Nym network. #CryptoNews
API3 will be hosting an exciting AMA session on January 31st at 16:00 UTC, focusing on the ever-growing ecosystem of decentralized applications (dApps). Join us as we explore the convergence of data, oracles, and decentralized finance (DeFi), and discuss how API3 is revolutionizing the traditional dAPI services for Web3 applications. Say goodbye to centralized API services and their associated issues, such as lack of transparency, security, and reliability. With API3's fully decentralized APIs, powered by the API3 token, participants like node operators and developers are incentivized to engage in voting and DAO governance. Don't miss out on this opportunity to learn more about the future of decentralized technologies! #CryptoNews
The SuperVerse project, with its revolutionary NFT functionality and immersive blockchain gaming experiences, aims to transform the digital space. Targeting both crypto-savvy individuals and newcomers, it offers a next-generation NFT marketplace called GigaMart, providing advanced analytics and unique social features, as well as Impostors, a social-gaming metaverse enhancing user engagement. By bridging the gap between Web2 and Web3, the SuperVerse strives to make blockchain technology and NFTs more accessible and mainstream. The SUPER token, governing the ecosystem, enables transactions and interactions, pushing the boundaries of NFT marketplace technology and Web3 gaming. Stay tuned for their announcement on January 30th! #CryptoNews
A Chinese financial giant, Harvest Fund Management, has filed the first-ever spot Bitcoin ETF application in Hong Kong, following the recent approval of spot Bitcoin ETFs in the US. The Hong Kong Securities and Futures Commission (SFC) aims to expedite the approval process after the US Securities and Exchange Commission (SEC) authorized the listing of spot crypto products. It is speculated that the performance of Hong Kong spot ETFs may be similar to the US market, but there could be differences in the scale of subscriptions. Additionally, Hong Kong spot ETFs may offer the possibility of direct Bitcoin subscriptions.
The Securities and Exchange Commission (SEC) has charged the founders of the $1.7 billion HyperFund scheme, Xue Lee and Brenda Chunga, with fraud and unregistered securities offering. Lee and Chunga raised a significant amount of money from investors worldwide by promoting HyperFund as a profitable investment opportunity in mining operations. However, according to the SEC, HyperFund was in reality a pyramid scheme with no legitimate sources of revenue. The project eventually collapsed in 2022, resulting in investors losing their funds. This case highlights the dangers of noncompliance in the crypto space, allowing promoters to exploit the allure of easy money without providing the necessary investor protections. The SEC has filed a complaint against Lee and Chunga in federal district court, accusing them of violating anti-fraud and registration provisions. The U.S. Attorney's Office for the District of Maryland has also pressed criminal charges. Chunga has pleaded guilty to conspiracy to commit securities fraud and wire fraud, and will be required to pay disgorgement and civil penalties. Please note that this information is for informational purposes only and does not constitute legal, tax, investment, or financial advice.
@TumblrMichelle “Exciting news! State-owned bank Bpifrance has made its first crypto investment by joining the cap table of lightning-focused bitcoin startup ACINQ. #CryptoInvestment#BitcoinStartup”
@TumblrMichelle 7 Ethereum projects are receiving $175,000 in grants from ConsenSys to support under-resourced areas of development in the Ethereum ecosystem. This is great news for the Ethereum community! #Ethereum#ConsenSys#Blockchain
@TumblrMichelle ConsenSys is helping to build a better future for Ethereum by awarding $175,000 in grants to 7 projects that support under-resourced areas of development in the Ethereum ecosystem. #ConsenSys#Ethereum#Blockchain