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ChainityX | Crypto Insights
Your gateway to the blockchain universe. ๐Ÿš€
โšก๏ธ Breaking News
๐Ÿ“Š Market Analytics
๐Ÿ”— Uniting the Chain Community
Stay ahead of the curve.
Join the X-evolution.

Communication via channel: @TeadorHell

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โ€‹โ€‹Deloitte and NYDIG set up alliance to help businesses adopt Bitcoin.

Deloitte wants to enable blockchain and digital asset-based services across many areas involving Bitcoin products like banking, rewards programs and others.

Professional services giant Deloitte is getting increasingly serious about Bitcoin (BTC) amid the ongoing market downturn, setting up a major initiative to promote BTC adoption.

Deloitte has partnered with the Bitcoin-focused financial services firm, New York Digital Investment Group (NYDIG), to help companies of all sizes implement digital assets.

According to a joint announcement on Monday, NYDIG and Deloitte are launching a strategic alliance to create a centralized approach for clients seeking advice to adopt Bitcoin products and services.

The companies will work together to enable blockchain and digital asset-based services across multiple areas involving Bitcoin-related products, including banking, loyalty and rewards programs, employee benefits and others.

According to the announcement, global financial institutions and banks have been facing an increasing demand to provide trusted exposure to Bitcoin. The alliance between Deloitte and NYDIG aims to help accelerate adoption while ensuring compliance, Deloitte's digital assets banking regulatory practice lead Richard Rosenthal said, adding:

"The future of financial services will center around the use of digital assets, and we are focused on advising our clients on ways to engage in a regulated and compliant way.โ€

Rosenthal told Cointelegraph that the partnership became active on June 21. The launch comes amid a major drop in cryptocurrency prices, with Bitcoin losing about 50% of its value since the beginning of 2022. "We take a longer view and expect that many companies will continue to build out their own digital asset infrastructure and products," the executive noted.

The news comes months after NYDIG launched a benefits program allowing employees to convert a portion of their paychecks into Bitcoin in February 2022. The company previously raised $1 billion in equity investment in late 2021, bringing NYDIGโ€™s valuation to roughly $7 billion.
โ€‹๐ŸŽ $50,000 AIRDROP IS FINALLY ON IMMOBILIUM'S TELEGRAM! ๐Ÿฅณ
Prepare yourself and be among the first for the upcoming revolution in Crypto Real Estate! ๐Ÿ˜

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โ€‹โ€‹Basel Committee wants to limit banks' digital asset exposure to just 1% of equity.

Volatile cryptocurrencies such as Bitcoin would also be subjected to a 1,250% risk premium.

On Thursday, the Basel Committee on Banking Supervision suggested during its second consultation on the prudential treatment of crypto-asset exposures that banks limit their exposure to so-called Group 2 crypto assets to just 1% of their Tier 1 capital.

Group 1 digital assets consist of tokenized traditional assets, such as synthetic stocks, or those with effective stabilization mechanisms, such as regulated stablecoins. Under the new proposal, Group 1 digital assets would be subject to at least equivalent risk-based capital requirements as traditional capital assets within the current capital framework, Basel III.

However, cryptocurrencies that do not meet the above requirements will be classified as Group 2 digital assets, which would theoretically include major non-stablecoin, non-tokenized cryptocurrencies like Bitcoin (BTC) and most altcoins. Therefore, banks would only be able to commit 1% of their total equity or net asset value in either long or short positions toward Group 2 digital assets.

Moreover, the Basel Committee is considering banks adopting a 1,250% risk premium for Group 2 digital assets. In comparison, stocks typically have a 20% to 150% risk premium attached to their nominal values, depending on the company's credit rating. Under Basel III, a bank's risk-weighted assets must not surpass 10.5% of its Tier 1 capital for prudent leverage.

The move would likely severely constrain banks' ability to purchase volatile cryptocurrency in the future as, for the sake of argument, a bank would need to add $125 million worth of risk-weighted assets to its portfolio for every $10 million in Bitcoin purchased, making them far less lucrative than assets with less risk-weighting premiums. Basel III is an international regulatory accord that nearly all financial institutions in developed countries must abide by and is enforced by law.
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โ€‹โ€‹Binance users support 0-fee trading despite CZ's wash trading concerns.

CZ is open to implementing the changes regardless of the challenges that a new system would bring, as he said, โ€œLetโ€™s see what the poll say. We listen to our users.โ€

Both traditional and crypto investors consider trading fees as one of the most significant liabilities when it comes to investing over exchanges. So no wonder when Changpeng โ€œCZโ€ Zhao, the founder and CEO of Binance, asked investors about their interest in trading on the crypto exchange with no fees, the response was a resounding yes despite the inherent risks pointed out by the entrepreneur.

Binance stands as the biggest crypto exchange, outdoing its nearest competition FTX by 10x in terms of the trading volume. Zhao, known for implementing features based on community feedback, reached out over Twitter to gauge investor sentiment regarding the complete removal of trading fees.

While 0-fee trading may seem ideal for investors, CZ pointed out some of the issues it may sprout in the process โ€” one of them being wash trading. Wash trading, wherein a user makes a series of buys and sells to manipulate market activity, can be used to go up the VIP tiers on Binance.

Moreover, CZ stated that bringing 0-fee trading to the masses will require Binance to implement numerous safeguards, which include detection tools for identifying illegitimate trades. Each VIP tier is tied to certain trading benefits including lower trading fees. As a result, professional poker player Brian Rast asked โ€œSo if there are no fees, why do you need VIP tiers?โ€

Over 30,600 investors voted on CZโ€™s poll at the time of writing โ€” with around 65.5% inclined to trade with no fee whatsoever. CZ is open to implementing the changes regardless of the challenges that a new system would bring:

โ€œLet's see what the poll say. We listen to our users.โ€

Binance continues to spread its roots across the world as it steadily acquires registrations and operational licenses from regulators.

Maintaining its expansion streak, Binanceโ€™s Spanish subsidiary, Moon Tech Spain, got registered as a VASP by Spainโ€™s central bank on Thursday.
โ€‹Utopia P2P beta for mobile is available on early access [Android OS]

๐ŸŽ‰Utopia P2P continues to surprise users with its novelties!

Most people know Utopia P2P for PC with various built-in tools for messaging, browsing, file transfer, online payments, etc.

Recently, Utopia P2P has released its beta version for mobile to ensure users with a pocket application for communication on Android first:
https://play.google.com/store/apps/details?id=is.u.utopia


What should you pay attention to?

๐Ÿ“œUtopia P2P is a Web 3.0 decentralized network with a strong foundation basis:


- A ready-to-work product, especially a PC version of Utopia P2P
- Conduction of weekly marketing advertising campaigns
- CRP Listings on major crypto exchanges
- Proof-of-Stake rewards that add to each user's Minimum Monthly Balance
- Release of the Utopia P2P beta for mobile on Android
- Upcoming Launchpad release ๐Ÿฅ‡
Upcoming release of anonymous NFT marketplace ๐Ÿฅ‡

๐Ÿ‘ฉโ€๐Ÿ’ปJoin the Utopia P2P community and enjoy the benefits of the decentralized network for both PC and mobile devices!

Utopia P2P: https://u.is/en/
Telegram: https://t.me/utopiachatoff
โ€‹โ€‹Liquidity protocol uses stablecoins to ensure zero impermanent loss.

The cross-chain liquidity protocol has put a special focus on user experience with a simple user interface that doesnโ€™t require dealing with complex virtual networks.

At a time when decentralized finance (DeFi) protocols have seen a significant outflow of funds from the market, maintaining liquidity has become even more challenging. Liquidity plays a central role in the DeFi ecosystem, and many protocols have, over time, come up with various new solutions to keep liquidity pools brimming. The latest trend in the liquidity market is focused on cross-chain solutions.

Many experts believe cross-chain solutions are the future of DeFi, and liquidity protocol Symbiosis Finance has come up with its own stablecoin-based cross-chain liquidity solution. The protocol uses stablecoins to ensure liquidity providers (LPs) donโ€™t incur any impermanent loss.

Nick Avramov, co-founder of Symbiosis, told Cointelegraph that the protocol has secured initial liquidity from Binance Labs, Blockchain, Amber and a few others, and is hoping to gain more LPs once it hits a transaction volume of around $100 million.

Regarding the importance of using stablecoins instead of different crypto assets, Avramov explained that stablecoins not only help eliminate impermanent loss but also ensure seamless transactions across different blockchain platforms, allowing for one-click swaps. Avramov explained:

โ€œWe enable native assets swaps, not just pegged illiquid yet-another USDTxyz.โ€

Symbiosis Finance supports cross-chain swaps between any blockchain that enables the generation of EdDSA and ECDSA keys. This effectively means anyone can exchange, for example, an ERC-20 token for tokens on Solana, Polygon or BNB Smart Chain. Regarding the future of Web3, Avramov said:

โ€œThe quest of interoperability is vital for further adoption, so cross-chain and multichain solutions are the very building blocks of the Web3 economy.โ€
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๐Ÿ‘พKunciCoin Ecosystem๐Ÿ•น

#1 Biggest Project in Indonesia ๐Ÿ‡ฎ๐Ÿ‡ฉ
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โœ… Listed in 24 Top Exchanges
โœ… $8-10 Millions Trading Volume/Day
โœ… Game Studio with 20Million Downloads
โœ… Licensed payment gateway
โœ… 70+ companies in conventional business chain ready to integrate
โœ… 6 months old (since listed on PancakeSwap in 16 February 2022)
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KUNCI is the only Token in the world integrated with the Physical offices and Physical utilities like Theme parks Hotels apart from Virtual assets like NFT MARKET PLACE ,KUNCISCAN ,KUNCI GAMES

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๐Ÿ’ฅ๐Ÿ’ฅDrum Rollsโ€ฆ!๐Ÿฅ๐Ÿฅ

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The Worldโ€™s First Play-to-earn Cricket NFT Game, the โ€˜META CRICKET LEAGUEโ€™ is all set to make itโ€™s royal entry into the realm of NFT gaming on Friday, July 22, 2022. ๐Ÿ’ซ

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โ€‹โ€‹BlockFi had $1.8B in outstanding loans in Q2.

Crypto lender BlockFi outlined the total amount of loans and net risk exposure it carried at the end of Q2 2022 and shared how it is managing liquidity and credit risk.

Centralized crypto lender BlockFi disclosed that as of the end of Q2, it had $1.8 billion in outstanding loans from institutional and retail investors and $600 million in โ€œnet exposure.โ€

The disclosure came from its Thursday โ€œQ2 2022 Transparency Report,โ€ where the firm outlined its risks relating to liquidity and credit and shared details on its institutional and retail loan portfolios. Of the outstanding loans to borrowers โ€” valued at $1.8 billion โ€” the firm reported that $600 million are uncollateralized loans.

Institutional loans accounted for $1.5 billion of the total outstanding loans, while retail loans made up the remaining $300 million. The firm based its holdings and outstanding loan amounts on a Bitcoin (BTC) price of $19,986 as a reference point.

BlockFi said it has established guidelines to help it โ€œmaintain the liquidity necessary to meet all our obligations under our core business activities, which includes institutional and retail borrowing and trading activities.โ€

Those guidelines stipulate that it will hold at least 10% of the total amount due to clients upon demand in inventory, which will be ready to be returned to clients.

It will also hold at least 50% of owed funds in places that can be retrieved and returned to clients within seven days and will hold at least 90% of the total amounts owed to clients upon demand, either in inventory or in loans that can be called back within one year.

The new liquidity guidelines come a few weeks after BlockFi and crypto exchange FTXUS signed an agreement to send $400 million to BlockFi as a โ€œcredit facilityโ€ with the option to acquire the firm for up to $240 million based on performance triggers.

The deal came together after major crypto investment enterprise Three Arrows Capital reportedly defaulted on its loan from BlockFi.

In a Wednesday post outlining its risk management, BlockFi explained that it only provides uncollateralized loans to borrowers it considers โ€œTier 1โ€ clients.
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Have you heard yet about the most promising project of 2022 - Ampere?

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TG News: @amprnetwork

Ampere is a neobank for businesses that unites fiat accounts and crypto wallets in one unique ecosystem. The goal of Ampere is to introduce crypto to the masses, so that even traditional businesses like restaurants or shops can run all their financial operations in Ampere and benefit from crypto.

Ampere allows businesses to:

โ–ช๏ธAccept payments by cards and bank transfers in fiat or crypto

โ–ช๏ธMake payments with fiat via SWIFT or SEPA as well as make payments by card or in crypto

โ–ช๏ธStake on business crypto assets and uncover up to 20% interest on a business working capital

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Join now or regret later ๐Ÿ’ธโณ

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TG News: @amprnetwork
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โ€‹Hey everyone,
APIZ here!

Weโ€™d like to remind you that we are the worldโ€™s first project aimed at tokenising a living being! Particularly, tokenising a bee!

Weโ€™re delighted to announce that we gained over 30 thousand followers in our social media channels and even managed to get a shout out from Bloomberg!

Right now, weโ€™d like to present our unique roadmap - a merger of blockchain, innovative tech (telemetry), agriculture and animal husbandry. Its purpose is to unify all the key aspects of our ambitious project and streamline its development.

The roadmap covers all four of those directions and intend to reach a broader audience. Itโ€™s a synergy between the four, with a 10-year long lifecycle. By the end of this decade-long journey, we intend to not only revolutionize crypto markets and beekeeping โ€“ we also aim at popularizing honey consumption as much as possible. After all, itโ€™s a sustainable and much more beneficial option than sugar.

Our end goal is increasing the efficiency of a bee tenfold! That way, weโ€™ll have a unique possibility to redefine all beekeeping boundaries on our own terms.

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At 10:50 UTC 18 July 2022 7.59% (1,252.3 BNB / 212,240,000 IBAT) of presale allocation has been sold.
Presale allocation is 2,800,000,000 (28% of the 10 billion total supply).

PRESALE INFO:
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โ€‹โ€‹Pro-Russian groups raised only 4% of crypto donations sent to Ukraine.

โ€œWhile significant, the $2.2M worth of crypto donated to pro-Russian orgs still pales in comparison to the tens of millions in crypto donated to Ukraine,โ€ said Chainalysis.

According to data from crypto analytics firm Chainalysis, users have sent more than $2 million in crypto to 54 pro-Russian groups since Feb. 24, a fraction of that received by many wallets controlled by the Ukrainian government.

In a Friday blog post, Chainalysis said it had tracked funds sent to social media accounts controlled by pro-Russian groups in Bitcoin (BTC), Ether (ETH), Litecoin (LTC), USDT-TRX, and Dogecoin (DOGE) starting with the countryโ€™s invasion of Ukraine in February. According to Chainalysisโ€™ data, users sent roughly $2.2 million to the pro-Russian groups, with more than $1 million going to a single unnamed account.

While there may be other groups outside of Chainalysisโ€™ investigation of those supporting pro-Russian forces, the available data suggested that the $2.2 million in donations amounted to roughly 4% of crypto sent in support of Ukraine. Wallet addresses connected to Aid for Ukraine, a platform backed by the governmentโ€™s Ministry of Digital Transformation, showed the organization had received more than $45 million in crypto since launching in March. Crypto exchange Binance, which facilitates donations through its Ukraine Emergency Relief Fund, reported more than $10 million received since February.

Both Russia and Ukraine have taken heavy losses and casualties since the invasion began. Aid for Ukraine reported that crypto sent to its wallets would be used to support the countryโ€™s military as well as humanitarian projects; meanwhile, Chainalysis reported the $2.2 million sent to pro-Russian groups could be used primarily for military equipment and to finance propaganda sites.

โ€œWhile significant, the $2.2M worth of crypto donated to pro-Russian orgs still pales in comparison to the tens of millions in crypto donated to Ukraine,โ€ said Chainalysis.

The donations to Ukraine have seemingly been in accordance with international laws. However, Chainalysis reported that roughly half of the crypto sent to the pro-Russian groups would be used to support military forces in the Donetsk and Luhansk territories of Ukraineโ€™s Donbas region โ€” areas specifically sanctioned by the Office of Foreign Assets Control, or OFAC, at United States Department of the Treasury.
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๐Ÿš€Run into the hype game Crypto Pirates at the start ๐Ÿš€ a great opportunity to become a pioneer and earn tokens before IDO starts

๐Ÿ’ฅFight. Travel. Earn๐Ÿ’ฅ

โ›ต๏ธ Crypto Pirates is an amazing mix of P2E, ZPG game, pixelart, space travel and real cursed monsters๐Ÿ˜‚
And their NFTs are integrated into the game and help to farm tokens๐ŸŒš

โœ… Go to the site click Mint NFT (50 busd) pick up - you have access to the game
โœ… Press the Play button, you are in the game, you need to put on NFT before flying in the port. Max amount 10 NFT per account, average ARP 220%
๐Ÿง Is the game not yours? Ok - NFT also gives you the opportunity to buy $PST tokens at a price below the IDO start ๐Ÿ‘‰ Seed round

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โžก๏ธTelegram group
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โ€‹โ€‹Solana wallets โ€˜compromised and abandonedโ€™ as users warned of scam solutions.

Solana users have been urged to move their funds to cold storage and be alert to possible scams after a major exploit of thousands of wallets sees more than $8 million stolen.

The cryptocurrency ecosystem has been rocked by a widespread exploit targeting Solana wallets that have been ongoing since Wednesday. Phantom and Slope, two Solana-based wallet services, initially flagged the attack on their social media platforms, alongside a host of cryptocurrency influencers, blockchain analytic and security firms and victims of the hack as it continued to unfold.

A handful of commentators noted that attackers had gained access to user private keys, as transactions were signed on the chain legitimately. Ava Labs CEO and founder Emin Gun Sirer estimated that more than 7,000 wallets had been affected, a number cited by various other individuals and firms online.

As investigations begin to unpack the root cause that allowed an attacker to pillage thousands of wallets, affected users are being warned not to accept help from individuals online purporting to have solutions to the hack. Heidi Chakos, the host of the YouTube channel Crypto Tips, stressed that scammers would be looking to exploit the ongoing situation.

Solana Status has been providing updates since the exploit began and noted that 7,767 wallets had been affected at 5:00 am UTC on Wednesday. Several wallets were affected across mobile and browser extensions.

Solana stressed that users move funds to cold storage and create new seed phrases, while the owners of the 8,000 drained wallets were told that these should โ€œbe treated as compromised, and abandoned.โ€

A spokesperson from Solana told Cointelegraph that engineers from several ecosystems as well as audit and security firms were continuing to explore the root cause that saw affected wallets drained.

"This does not appear to be a bug with Solana core code, but in software used by several wallets popular among Solana users."

Users affected by the exploit are being asked to provide their compromised wallet addresses to the Solana Foundation to assist in the investigation.