According to CoinShares, the recent decline in cryptocurrency prices can be attributed to outflows from the Grayscale Bitcoin Trust in the US, totaling $5 billion. This has likely led to further outflows in other regions, including Europe and Canada. During the trading week of January 22 to January 26, Switzerland and Germany experienced the highest outflows, with $59.8 million and $31.7 million respectively. Canadian digital asset products have seen the largest outflows over the month, totaling $209.8 million, followed by Germany and Sweden with $124.5 million and $34.2 million respectively. The only major inflow last week was observed in digital asset products from Brazil, amounting to $10.3 million.
In response to the recent approval of spot Bitcoin ETFs in the US and guidelines from Hong Kong's Securities and Futures Commission (SFC), there is speculation about the launch of a spot Bitcoin ETF in Hong Kong. Venture Smart Financial Holdings Ltd. has expressed its plans to apply for a spot Bitcoin ETF, and Harvest Fund Management has filed the first-ever spot Bitcoin ETF application in Hong Kong. The SFC aims to accelerate the approval process, and there is a possibility of approving all applications simultaneously. The performance of Hong Kong's spot ETFs may be similar to those in the US, but there may be a difference in the scale of subscriptions. It is also anticipated that Hong Kong's spot ETFs may offer direct Bitcoin subscriptions. Despite interest from other firms, no organization has applied for a Spot Bitcoin ETF yet. #CryptoNews
The Securities and Exchange Commission 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 allegedly raised funds from global investors by promoting HyperFund as a profitable mining investment opportunity. However, the SEC claims that the scheme was actually a pyramid scheme with no legitimate sources of revenue. The project collapsed in 2022, resulting in financial losses for investors. This case highlights the dangers of noncompliance in the crypto space and the need for proper investor protection disclosures. The SEC has filed a complaint against Lee and Chunga, with the U.S. Attorney's Office for the District of Maryland also pressing criminal charges. Chunga has already pleaded guilty to conspiracy to commit securities fraud and wire fraud. The Block, an independent media outlet, provided this article for informational purposes only and does not offer legal, tax, investment, financial, or other advice.
Join Hedera's community call on Discord on January 31st at 17:00 UTC. Hedera's COSO, Andrew Aitken, will discuss the company's open source strategy, along with Christian Hasker from Swirlds Labs and Solo Ceesay from Calaxy. They will also touch on Davos2024. Hedera HBAR offers a decentralized public network for individuals and businesses to create powerful dApps. With its native cryptocurrency, HBAR, Hedera facilitates peer-to-peer payment models and safeguards the network against malicious actors. What sets Hedera apart is its hashgraph consensus, which combines the benefits of blockchain with enhanced speed, efficiency, and scalability, processing thousands of transactions per second. Ideal for enterprise use cases. #CryptoNews
The SuperVerse project is set to make a significant announcement on January 30th. With a focus on revolutionizing the digital space through advanced NFT functionality and blockchain gaming experiences, SuperVerse aims to cater to both crypto-savvy individuals and newcomers. By offering a next-generation NFT marketplace called GigaMart and an interactive social-gaming metaverse called Impostors, SuperVerse creates a unified framework that integrates these technologies and services. The platform's ERC-20 token, SUPER, plays a crucial role in governing and supporting the various tools and features within the ecosystem. Its goal is to bridge the gap between traditional internet users and the emerging Web3 space, making blockchain technology and NFTs more accessible and mainstream. Stay tuned for the exciting updates from SuperVerse on the 30th of January! #CryptoNews
NymVPN, an alpha version of the privacy-enhancing software, is set to be released in February. Users can utilize NYM tokens to access the mixnet and improve their data privacy. These tokens also serve as a reward for mix nodes, which assist in traffic mixing and safeguarding the privacy of Nym network users. Fees collected in NYM will be directed to a reward pool and distributed amongst mix nodes based on their performance and reputation. Users are given the opportunity to delegate their NYM tokens to these nodes, validating their reputation and allowing the users to receive a share of the mix node's rewards. It is important to understand that NYM is not a general-purpose payment system like Bitcoin, but specifically designed for activities within the Nym network.
Sui's token price has hit a new all-time high, reaching $1.58, while its total value locked (TVL) surged 98% in just one month, reaching $436 million. This surge has positioned Sui ahead of Coinbase's Base and Cardano in TVL. The growth of the Sui ecosystem can be attributed to strategic partnerships with Alibaba Cloud and Solend. Mysten Labs, the team behind Sui, partnered with Alibaba Cloud to provide more resources for developers using the Move programming language, while Solend expanded onto the Sui network. The Sui Foundation also incentivizes projects and users within the network using SUI tokens. Sui's market cap has risen to approximately $1.5 billion, an increase of over 80% in the past month.
Merit Circle will be hosting an Ask-Me-Anything (AMA) session on January 31st, where they will discuss their mission to modernize the gaming industry through a web3 digital ecosystem. With a focus on investing in web3 technologies, developing quality gaming projects, creating new games, and providing a gamer-optimized NFT platform, Merit Circle aims to revolutionize the gaming experience. The MC token plays a vital role within this ecosystem, as it allows holders to influence DAO decisions, participate in games, exchange NFTs, and stake the token for enhanced voting rights and additional rewards. Stay informed with #CryptoNews.
Hey folks! Exciting news! API3 will be hosting an AMA on X on January 31st at 16:00 UTC. Join us as we delve into the fascinating world of decentralized applications (dApps) and explore the convergence of data, oracles, and decentralized finance (DeFi). Don't miss out on this opportunity to gain insights into the growing ecosystem of dApps. See you there! #CryptoNews
On January 29th, Fidelity's spot Bitcoin exchange-traded fund (ETF) reportedly received $208 million in daily inflows, surpassing the outflows from Grayscale Bitcoin Trust (GBTC) for the first time since their launch. Data from Farside Investors shows that Fidelity's FBTC attracted $208 million in inflows, while GBTC experienced outflows of $192 million, the lowest daily outflows apart from its re-launch. This marks a significant drop from the fund's peak daily outflows of $641 million on January 22nd. The decrease in GBTC outflows is being closely monitored by crypto traders, as it may indicate investors cashing out of their once-underwater positions. JPMorgan analysts have suggested that the downward price pressure caused by GBTC outflows should be mostly in the past. Additionally, on January 29th, the nine new US spot Bitcoin ETFs recorded a combined volume of $994.1 million, nearly double the volume of GBTC, which reached $570 million.
Star Atlas, the ambitious MMO game on the Solana blockchain, will be hosting an exciting DAC competition on February 29th. This event will showcase the unique qualities of each DAC (Guild) as they compete against each other to prove their superiority. Participants will have the opportunity to explore space, mine resources, build ships and colonies, and engage in battles, with every action being tokenized and exchangeable for real-world currency. With the grand prize being over $26,000 worth of Star Atlas land, the stakes are high. Star Atlas combines elements of strategy, exploration, and combat in a visually detailed game world, thanks to the integration of Unreal Engine 5 technology. By leveraging the scalability and low fees of the Solana blockchain, Star Atlas offers a seamless and immersive gaming experience. Don't miss out on this exciting competition in the metaverse of Star Atlas! #CryptoNews
Polygon is set to release a network upgrade on February 6th, introducing the zkEVM Type 2. This upgrade allows developers to deploy their code seamlessly on Polygon zkEVM, similar to Ethereum, without any modifications. With the Etrog upgrade now available for testing on the Cardano testnet, once live on the mainnet, end users can continue using Polygon zkEVM without having to take any action. Polygon, formerly known as Matic Network, is a layer-2 scaling solution for Ethereum, bringing significant scalability enhancements to decentralized applications through a modified version of Plasma with sidechains. The MATIC token serves as both a payment currency and settlement currency within the Polygon ecosystem. By leveraging innovative sidechain solutions, Polygon aims to overcome the limitations faced by traditional blockchain networks, such as low throughput, subpar user experience, and absence of community governance. Stay informed with #CryptoNews.
The Securities and Exchange Commission (SEC) has charged the founders of HyperVerse, Sam Lee and Brenda Bitcoin Beutee Chunga, with crypto fraud following a $2 billion Ponzi scheme. The lawsuit alleges that Lee and Chunga operated a pyramid and Ponzi scheme under different names, such as HyperFund and HyperTech, since 2020. They even went as far as hiring an actor to pose as the CEO of HyperVerse. The SEC claims that investor withdrawals were paid with deposits from newer victims, as there was no legitimate revenue. Lee and Chunga are also accused of using investor money for personal luxury purchases and illicit funds transfers. The collapse of HyperVerse is another example of failed crypto investment schemes. The US District Court in Maryland has indicted Lee and Chunga for conspiracy to commit wire fraud, and the SEC is demanding the return of all ill-gotten gains. Chunga has already agreed to a settlement that includes fines and the prohibition of future questionable deals. Rodney Burton has also been arrested for his alleged involvement in the fraudulent schemes, with claims that he funneled over $7.85 million into fraudulent HyperFund accounts. These accounts were falsely marketed as fueling HyperTech's cryptocurrency ventures.
@NatalieBrenda17 A French central banker is calling for a global regulatory framework on crypto assets. The need for standardization is crucial to prevent regulatory arbitrage and ensure consistent regulation across jurisdictions. #Crypto#Regulation#Standardization
@pelusithaxadoer The 11 spot ETF Bitcoin issuers have filed their 19b-4 amendment forms, bringing us one step closer to the approval of a spot Bitcoin ETF! 🚀🚀🚀 #Bitcoin#ETF#Approval#Crypto
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To make hot and fast spare ribs with a delicious mop sauce, gather 2 spare ribs and prepare the mop sauce by combining 1/2 cup of Appleisider, 1/2 cup of water, 1 teaspoon of mustard powder, 2 teaspoons of garlic powder, lemon slices from 1 lemon, 1 teaspoon of chili flakes, 1 tablespoon of smoked paprika, and 1/2 cup of brown sugar. Grill the spare ribs over direct heat for approximately 1.5 hours, ensuring to mop them every 30 minutes. Once the internal temperature reaches 195 degrees, carefully remove the ribs from the grill. Allow them to rest in foil for 15 minutes before serving. Enjoy the mouthwatering flavors of these perfectly cooked spare ribs with a tangy and sweet mop sauce!