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1 hour left!! Remember our pump instructions and remember the main objective of this pump: Buying, holding and waiting for outside traders to enter our coin before selling.
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1 hour left!! Remember our pump instructions and remember the main objective of this pump: Buying, holding and waiting for outside traders to enter our coin before selling.
Investors lament potentially lost ‘millions’ on Voyager bankruptcy.
One user, referred to as Robert for anonymity purposes, stated he put roughly six figures on Voyager, representing 70% of his life savings, and feels lost on what to do moving forward.
Many Investors are reeling from Voyager Digital’s recent bankruptcy filing, with some claiming to have either ‘millions’ worth of crypto assets or most of their life savings locked on the crypto exchange.
As previously reported, Voyager paused withdrawals at the start of this month amid its liquidity issues as a result of Three Arrows Capital (3AC) defaulting on a $650 million loan from the firm. Despite Alameda supplying the firm with a $500 million loan in June, Voyager went on to file for bankruptcy on July 6.
In a July 9 article, Fortune spoke to several Voyager users who are reeling from the recent bankruptcy filing. Some put nearly all of their life savings onto the platform, while others are said to have millions hanging in limbo.
One user, referred to as Robert for anonymity purposes, stated he put roughly six figures on the platform, representing 70% of his life savings.
“Every day, honestly, I cry,” Robert said, adding, “I don’t know what to tell my wife. As partners, we decided to invest on Voyager, but she trusted me, more than anyone else, to make the proper decision.”
As an investor of six years, Robert went on to note that while he had conducted a relative amount of research on Voyager before using the platform, he would have never done so if he knew that the firm was going to lend out customer funds to a hedge fund:
“I had no idea that Voyager would be lending customers’ USDC out to a hedge fund. Had I known that it would be possibly lent out, I probably would have just kept it in cash in my safe.”
Fortune also spoke to popular crypto influencer Scott Melker, who is also known as The Wolf Of All Streets online and claims to have seven figures worth of funds stuck on Voyager.
“Listen, I’m out millions of dollars,” he said, adding that he was embarrassed about being over-exposed to Voyager despite often talking about risk management and protecting your assets.
One user, referred to as Robert for anonymity purposes, stated he put roughly six figures on Voyager, representing 70% of his life savings, and feels lost on what to do moving forward.
Many Investors are reeling from Voyager Digital’s recent bankruptcy filing, with some claiming to have either ‘millions’ worth of crypto assets or most of their life savings locked on the crypto exchange.
As previously reported, Voyager paused withdrawals at the start of this month amid its liquidity issues as a result of Three Arrows Capital (3AC) defaulting on a $650 million loan from the firm. Despite Alameda supplying the firm with a $500 million loan in June, Voyager went on to file for bankruptcy on July 6.
In a July 9 article, Fortune spoke to several Voyager users who are reeling from the recent bankruptcy filing. Some put nearly all of their life savings onto the platform, while others are said to have millions hanging in limbo.
One user, referred to as Robert for anonymity purposes, stated he put roughly six figures on the platform, representing 70% of his life savings.
“Every day, honestly, I cry,” Robert said, adding, “I don’t know what to tell my wife. As partners, we decided to invest on Voyager, but she trusted me, more than anyone else, to make the proper decision.”
As an investor of six years, Robert went on to note that while he had conducted a relative amount of research on Voyager before using the platform, he would have never done so if he knew that the firm was going to lend out customer funds to a hedge fund:
“I had no idea that Voyager would be lending customers’ USDC out to a hedge fund. Had I known that it would be possibly lent out, I probably would have just kept it in cash in my safe.”
Fortune also spoke to popular crypto influencer Scott Melker, who is also known as The Wolf Of All Streets online and claims to have seven figures worth of funds stuck on Voyager.
“Listen, I’m out millions of dollars,” he said, adding that he was embarrassed about being over-exposed to Voyager despite often talking about risk management and protecting your assets.
EURAUD - TP1✅ 20pips🔥
Trade moved nicely to our TP before striking breakeven👍
Markets are choppy so we will wait for a reentry💪
#FreeSignal
Trade moved nicely to our TP before striking breakeven👍
Markets are choppy so we will wait for a reentry💪
#FreeSignal
Good Morning Team🔥
Its midweek! We have experienced some choppy and inconsistent market movements this week. Lets see if everything turns around starting today😎
Im hoping to see continuous movements and good volatility enter the market as we place more trades in🔥
Sit tight and be patient! More signals on the way🚀🚀🚀
Its midweek! We have experienced some choppy and inconsistent market movements this week. Lets see if everything turns around starting today😎
Im hoping to see continuous movements and good volatility enter the market as we place more trades in🔥
Sit tight and be patient! More signals on the way🚀🚀🚀
Tether, Bitfinex, Hypercore collab to launch encrypted P2P apps.
The trio launched Holepunch with a vision to bestow control over data while breaking technology monopolies, among others.
Staying true to the “bear market is for building” motto, crypto exchange Bitfinex along with Tether (USDT) and Hypercore announced the launch of a fully encrypted platform, Holepunch, for building peer-to-peer applications. As part of the initiative, the trio launched Keet, an encrypted application capable of facilitating real-time audio and video calls, text chat and file sharing.
Partners aim to bestow control over data while breaking technology monopolies with Holepunch, according to the announcement. Tether and Bitfinex funded the development of the Holepunch platform. Paolo Ardoino, the chief technology officer of Tether and Bitfinex, will lead the new initiative as the chief strategy officer.
Speaking on behalf of Tether and Bitfinex, Ardoino highlighted the need to address the growing privacy concerns, stating:
“It Tether and Bitfinex believes that freedom of choice, communication and finances are the lifeblood of the future, and anything that will enhance those freedoms is worth amplifying.”
Holepunch currently operates as a closed source protocol in its alpha or pre-release phase, which will be moved to open source code by the end of 2022. In doing so, Holepunch will not use blockchain technology at its core and will instead move to an in-house payments API powered by the Lightning Network.
Developers building solutions on the Holepunch protocol will be able to use USDT as default for micropayments. However, the company is yet to disclose support for other cryptocurrencies and stablecoins.
Blockchain-based metaverse and Web3 platforms joined hands to form Open Metaverse Alliance for Web3 (OMA3), an alliance built on four core principles — transparency, inclusiveness, decentralization and democratization.
As Cointelegraph reported, the alliance will focus its efforts on specific metaverse-related topics, which include setting standards for nonfungible tokens (NFTs), protocols, transferable identity, portals between virtual worlds, mapping and indexing.
The trio launched Holepunch with a vision to bestow control over data while breaking technology monopolies, among others.
Staying true to the “bear market is for building” motto, crypto exchange Bitfinex along with Tether (USDT) and Hypercore announced the launch of a fully encrypted platform, Holepunch, for building peer-to-peer applications. As part of the initiative, the trio launched Keet, an encrypted application capable of facilitating real-time audio and video calls, text chat and file sharing.
Partners aim to bestow control over data while breaking technology monopolies with Holepunch, according to the announcement. Tether and Bitfinex funded the development of the Holepunch platform. Paolo Ardoino, the chief technology officer of Tether and Bitfinex, will lead the new initiative as the chief strategy officer.
Speaking on behalf of Tether and Bitfinex, Ardoino highlighted the need to address the growing privacy concerns, stating:
“It Tether and Bitfinex believes that freedom of choice, communication and finances are the lifeblood of the future, and anything that will enhance those freedoms is worth amplifying.”
Holepunch currently operates as a closed source protocol in its alpha or pre-release phase, which will be moved to open source code by the end of 2022. In doing so, Holepunch will not use blockchain technology at its core and will instead move to an in-house payments API powered by the Lightning Network.
Developers building solutions on the Holepunch protocol will be able to use USDT as default for micropayments. However, the company is yet to disclose support for other cryptocurrencies and stablecoins.
Blockchain-based metaverse and Web3 platforms joined hands to form Open Metaverse Alliance for Web3 (OMA3), an alliance built on four core principles — transparency, inclusiveness, decentralization and democratization.
As Cointelegraph reported, the alliance will focus its efforts on specific metaverse-related topics, which include setting standards for nonfungible tokens (NFTs), protocols, transferable identity, portals between virtual worlds, mapping and indexing.
Condense to live stream IRL events into the metaverse.
Metaverse infrastructure company Condense closes a $4.5M seed round with plans to livestream real-world events into the Metaverse.
The Metaverse infrastructure company closed a seed funding round to continue the development of 3D live streaming technology. Condense raised $4.5 million in a round led by LocalGlobe, 7percent Ventures and Deeptech Labs.
The technology employed by Condense live streams 3D videos into the Metaverse via games and existing platforms. The firm states that such technology has the potential to create an entirely new world of content creation and entertainment engagement with real-time connections.
Additionally, Condense had participation from angel investors and music industry insiders such as English footballer and platinum-selling artist Tom Blomfield (Mozo) and music manager Grace Ladoja.
Funding from this round will go toward relationship building with content creators, artists, labels and existing Metaverse platforms.
The underlying technology of Condense utilizes, “cutting-edge computer vision, machine learning and proprietary streaming infrastructure to capture and embed live 3D video (Video 3.0).” This live video experience is then streamed into metaverse games, mobile applications or platforms created with Unity or Unreal Engine.
The 3D aspect of these live streamed events will allow a unique and dynamic perspective for every player simulating a physical live event. Such technology adds a level of individualism to Metaverse events, moreover, to simply watching a standard event live stream.
This development comes as the music industry continues its push for engagement with Web3. technologies and digital interactions.
Metaverse infrastructure company Condense closes a $4.5M seed round with plans to livestream real-world events into the Metaverse.
The Metaverse infrastructure company closed a seed funding round to continue the development of 3D live streaming technology. Condense raised $4.5 million in a round led by LocalGlobe, 7percent Ventures and Deeptech Labs.
The technology employed by Condense live streams 3D videos into the Metaverse via games and existing platforms. The firm states that such technology has the potential to create an entirely new world of content creation and entertainment engagement with real-time connections.
Additionally, Condense had participation from angel investors and music industry insiders such as English footballer and platinum-selling artist Tom Blomfield (Mozo) and music manager Grace Ladoja.
Funding from this round will go toward relationship building with content creators, artists, labels and existing Metaverse platforms.
The underlying technology of Condense utilizes, “cutting-edge computer vision, machine learning and proprietary streaming infrastructure to capture and embed live 3D video (Video 3.0).” This live video experience is then streamed into metaverse games, mobile applications or platforms created with Unity or Unreal Engine.
The 3D aspect of these live streamed events will allow a unique and dynamic perspective for every player simulating a physical live event. Such technology adds a level of individualism to Metaverse events, moreover, to simply watching a standard event live stream.
This development comes as the music industry continues its push for engagement with Web3. technologies and digital interactions.
Chips bill provides for blockchain specialist position in White House science office.
The $280 billion bill, which aids the semiconductor industry, also incorporated Representative Darren Soto’s bill to create a position to advise the president on blockchain.
The United States House of Representatives passed the Chips and Science Act on Thursday by a vote of 243 to 187. The bill, which was introduced into the Senate over a year ago, provides grants and incentives to the semiconductor industry and encourages research. It also creates a blockchain and cryptocurrency specialist position in the White House Office of Science and Technology Policy (OSTP).
The bill passed the Senate on Wednesday. It has an overall price tag of $280 billion, which includes $52 billion in grants and incentives for U.S. semiconductor manufacturers who face fierce competition from China, and $170 billion in incentives for research. It is expected to contribute to the easing of supply chain issues in the industry as well.
Tucked into the lengthy “Miscellaneous Science and Technology Provisions” chapter of the bill is a section creating a blockchain and cryptocurrency specialist position in the OSTP to “advise the President on matters relating to blockchain and cryptocurrencies.” According to a statement released by Democratic Florida Representative Darren Soto, the language of that provision comes from a bill he introduced separately. Soto said in the statement:
“As a co-chair of the Congressional Blockchain Caucus and a member of the House Energy and Commerce Committee, I am proud to foster the policy needed to ensure innovation continues to take shape in our government and the CHIPS and Science Act will do just that.”
Soto has a long record of crypto advocacy. He was a co-sponsor with Republican Tom Emmer of the 2020 bill to exclude small purchases made with crypto from the capital gains tax. He and Emmer were also among the co-sponsors of the reintroduced Digital Commodity Exchange Act in April 2022. The OSTP was given a role in several of the initiatives mandated by President Joe Biden’s Executive Order on Ensuring Responsible Development of Digital Assets.
The $280 billion bill, which aids the semiconductor industry, also incorporated Representative Darren Soto’s bill to create a position to advise the president on blockchain.
The United States House of Representatives passed the Chips and Science Act on Thursday by a vote of 243 to 187. The bill, which was introduced into the Senate over a year ago, provides grants and incentives to the semiconductor industry and encourages research. It also creates a blockchain and cryptocurrency specialist position in the White House Office of Science and Technology Policy (OSTP).
The bill passed the Senate on Wednesday. It has an overall price tag of $280 billion, which includes $52 billion in grants and incentives for U.S. semiconductor manufacturers who face fierce competition from China, and $170 billion in incentives for research. It is expected to contribute to the easing of supply chain issues in the industry as well.
Tucked into the lengthy “Miscellaneous Science and Technology Provisions” chapter of the bill is a section creating a blockchain and cryptocurrency specialist position in the OSTP to “advise the President on matters relating to blockchain and cryptocurrencies.” According to a statement released by Democratic Florida Representative Darren Soto, the language of that provision comes from a bill he introduced separately. Soto said in the statement:
“As a co-chair of the Congressional Blockchain Caucus and a member of the House Energy and Commerce Committee, I am proud to foster the policy needed to ensure innovation continues to take shape in our government and the CHIPS and Science Act will do just that.”
Soto has a long record of crypto advocacy. He was a co-sponsor with Republican Tom Emmer of the 2020 bill to exclude small purchases made with crypto from the capital gains tax. He and Emmer were also among the co-sponsors of the reintroduced Digital Commodity Exchange Act in April 2022. The OSTP was given a role in several of the initiatives mandated by President Joe Biden’s Executive Order on Ensuring Responsible Development of Digital Assets.
GitHub faces widespread malware attacks affecting projects, including crypto.
The developer who found the vulnerability requested developers sign their revisions with the GPG key to ensure all their revisions on the project can be verified.
Major developer platform GitHub faced a widespread malware attack and reported 35,000 “code hits” on a day that saw thousands of Solana-based wallets drained for millions of dollars.
The widespread attack was highlighted by GitHub developer Stephen Lucy, who first reported the incident earlier on Wednesday. The developer came across the issue while reviewing a project he found on a Google search.
So far, various projects — from crypto, Golang, Python, JavaScript, Bash, Docker and Kubernetes — have been found to be affected by the attack. The malware attack is targeted at the docker images, install docs and NPM script, which is a convenient way to bundle common shell commands for a project.
To dupe developers and access critical data, the attacker first creates a fake repository (a repository contains all of the project’s files and each file’s revision history) and pushes clones of legit projects to GitHub. For example, the following two snapshots show this legit crypto miner project and its clone.
Many of these clone repositories were pushed as “pull requests,” which let developers tell others about changes they have pushed to a branch in a repository on GitHub.
Once the developer falls prey to the malware attack, the entire environment variable (ENV) of the script, application or laptop (Electron apps) is sent to the attacker’s server. The ENV includes security keys, Amazon Web Services access keys, crypto keys and much more.
The developer has reported the issue to GitHub and advised developers to GPG-sign their revisions made to the repository. GPG keys add an extra layer of security to GitHub accounts and software projects by providing a way of verifying all revisions come from a trusted source.
The developer who found the vulnerability requested developers sign their revisions with the GPG key to ensure all their revisions on the project can be verified.
Major developer platform GitHub faced a widespread malware attack and reported 35,000 “code hits” on a day that saw thousands of Solana-based wallets drained for millions of dollars.
The widespread attack was highlighted by GitHub developer Stephen Lucy, who first reported the incident earlier on Wednesday. The developer came across the issue while reviewing a project he found on a Google search.
So far, various projects — from crypto, Golang, Python, JavaScript, Bash, Docker and Kubernetes — have been found to be affected by the attack. The malware attack is targeted at the docker images, install docs and NPM script, which is a convenient way to bundle common shell commands for a project.
To dupe developers and access critical data, the attacker first creates a fake repository (a repository contains all of the project’s files and each file’s revision history) and pushes clones of legit projects to GitHub. For example, the following two snapshots show this legit crypto miner project and its clone.
Many of these clone repositories were pushed as “pull requests,” which let developers tell others about changes they have pushed to a branch in a repository on GitHub.
Once the developer falls prey to the malware attack, the entire environment variable (ENV) of the script, application or laptop (Electron apps) is sent to the attacker’s server. The ENV includes security keys, Amazon Web Services access keys, crypto keys and much more.
The developer has reported the issue to GitHub and advised developers to GPG-sign their revisions made to the repository. GPG keys add an extra layer of security to GitHub accounts and software projects by providing a way of verifying all revisions come from a trusted source.
S&P Global downgrades Coinbase credit rating for weak Q2 earnings, competitive pressures.
Coinbase Global sees its credit rating downgraded by S&P Global amid regulatory pressures, weakened market performance and competitors.
Major American cryptocurrency exchange Coinbase saw its long-term issuer credit rating downgraded from BB+ to BB status by rating agency S&P Global following its latest earnings report this year.
The agency confirmed the downgrade in a note on Thursday, pointing toward Coinbase’s weaker performance in the second quarter of 2022 as a driving factor. Intensified competitive risk in the cryptocurrency exchange sector was also highlighted, with Coinbase losing market share to competitors this year.
“The negative outlook reflects uncertainties about the duration of the crypto market downturn and the company's ability to operate efficiently by managing operating expenses prudently.”
The downgrade also reflected the potential for "further market share deterioration" driven by the competitive landscape and regulatory risk. The rating agency noted that total trading volume at Coinbase declined 30% quarter on quarter, while total cryptocurrency spot trading volume across all venues declined only 3%, leading to a lower market share.
The note conceded that spot trading has become more concentrated among market-makers and high-frequency trading firms, of which Coinbase has a far smaller market share.
The ongoing cryptocurrency bear market has also left its mark, with S&P Global highlighting total assets on Coinbase declining 63% to $96 billion from the first quarter, which has been driven by weakened cryptocurrency values and net outflows from institutional clients.
Binance’s move to do away with its Bitcoin trading fees around the world also led the rating agency to believe that Coinbase could be forced to review its own fee structures, which remain a major revenue source for the company:
“We believe higher trading fees at Coinbase compared with peers, combined with such aggressive pricing actions by competitors, could increase the risk of fee compression in its retail channel (which generated about 80% of the company's total revenues in the first half of 2022).”
Coinbase Global sees its credit rating downgraded by S&P Global amid regulatory pressures, weakened market performance and competitors.
Major American cryptocurrency exchange Coinbase saw its long-term issuer credit rating downgraded from BB+ to BB status by rating agency S&P Global following its latest earnings report this year.
The agency confirmed the downgrade in a note on Thursday, pointing toward Coinbase’s weaker performance in the second quarter of 2022 as a driving factor. Intensified competitive risk in the cryptocurrency exchange sector was also highlighted, with Coinbase losing market share to competitors this year.
“The negative outlook reflects uncertainties about the duration of the crypto market downturn and the company's ability to operate efficiently by managing operating expenses prudently.”
The downgrade also reflected the potential for "further market share deterioration" driven by the competitive landscape and regulatory risk. The rating agency noted that total trading volume at Coinbase declined 30% quarter on quarter, while total cryptocurrency spot trading volume across all venues declined only 3%, leading to a lower market share.
The note conceded that spot trading has become more concentrated among market-makers and high-frequency trading firms, of which Coinbase has a far smaller market share.
The ongoing cryptocurrency bear market has also left its mark, with S&P Global highlighting total assets on Coinbase declining 63% to $96 billion from the first quarter, which has been driven by weakened cryptocurrency values and net outflows from institutional clients.
Binance’s move to do away with its Bitcoin trading fees around the world also led the rating agency to believe that Coinbase could be forced to review its own fee structures, which remain a major revenue source for the company:
“We believe higher trading fees at Coinbase compared with peers, combined with such aggressive pricing actions by competitors, could increase the risk of fee compression in its retail channel (which generated about 80% of the company's total revenues in the first half of 2022).”
🎁 Join The Festivities And Win With Duelbits $500К Christmas Giveaway 🎁
To get into the festive season, Duelbits is giving you the opportunity to win a share of their $500К cash prizes. The giveaway starts on December 1st and ends on the day after Christmas. Duelbits’ users can win the following:
Daily Rewards
Each day until Christmas, there will be a present that needs to be opened. Inside, you can find Free Spins or a challenge to complete for a reward.
Prize Draw
For every $100 you wager on the site, you get one entry to the prize draw. A total of 203 winners will share the $200,000 Prize Pool, as follows:
- 1x $100,000
- 1x $50,000
- 1x $30,000
- 200x $100
Ornamental Hunt
Duelbits will hide a special Christmas ornament on a specific page every day. One lucky winner will get $500 cash every day. The ornament can be hidden anywhere on the slot, live game, or sportsbook market page. Follow Duelbits’ Twitter account for daily clues and find the ornament hidden on the site.
Get Your Reward Now
To get into the festive season, Duelbits is giving you the opportunity to win a share of their $500К cash prizes. The giveaway starts on December 1st and ends on the day after Christmas. Duelbits’ users can win the following:
Daily Rewards
Each day until Christmas, there will be a present that needs to be opened. Inside, you can find Free Spins or a challenge to complete for a reward.
Prize Draw
For every $100 you wager on the site, you get one entry to the prize draw. A total of 203 winners will share the $200,000 Prize Pool, as follows:
- 1x $100,000
- 1x $50,000
- 1x $30,000
- 200x $100
Ornamental Hunt
Duelbits will hide a special Christmas ornament on a specific page every day. One lucky winner will get $500 cash every day. The ornament can be hidden anywhere on the slot, live game, or sportsbook market page. Follow Duelbits’ Twitter account for daily clues and find the ornament hidden on the site.
Get Your Reward Now
More than 90% of consumers are curious about the Metaverse: Capgemini.
The volatility of the crypto market hasn’t stopped the metaverse from gaining potential as a utility for businesses and consumers alike.
Despite turbulent market conditions over the last year, the metaverse and its potential utility remain steady in the minds of consumers.
According to data from a new survey by Capgemini, a business and technology strategy advisor, over three-quarters of consumers expect their interactions with brands and individuals to be impacted by the metaverse.
This also goes for organizations, as 7 out of 10 believe that the metaverse and immersive experiences will be a market differentiator in terms of customer experience.
The report surveyed 8,000 consumers, along with 1,000 organizations in 12 countries across different sectors to understand metaverse competency, interest and impact.
Included in the mix was a group of 380 consumers who self-identified as “metaverse-experienced,” of which three-quarters said they actively participate in the metaverse.
Data revealed that 93% of surveyed consumers said they are curious about the metaverse. Of that number, 51% said they would use the metaverse as it becomes more accessible to them.
Charlton Monsanto, the global immersive experiences offer leader at Capgemini, said the “consumer-facing metaverse” needs to address the challenges of accessibility and privacy among other things in order to move forward.
“The potential of the metaverse is transformative and consumer curiosity remains high."
Education and accessibility go hand in hand for emerging technologies and remain the biggest challenges for tech-savvy brands to communicate with consumers.
The survey also touched on the type of metaverse interactions consumers look for, to which 43% of respondents said they would like to interact with friends and family. This was followed by interactions with colleagues (39%), gaming-related experiences (33%), and commercial activity (28%).
With such an emphasis on connectivity, development in the metaverse has seen a rise in events which allow people to connect with one another, such as festivals and concerts.
The volatility of the crypto market hasn’t stopped the metaverse from gaining potential as a utility for businesses and consumers alike.
Despite turbulent market conditions over the last year, the metaverse and its potential utility remain steady in the minds of consumers.
According to data from a new survey by Capgemini, a business and technology strategy advisor, over three-quarters of consumers expect their interactions with brands and individuals to be impacted by the metaverse.
This also goes for organizations, as 7 out of 10 believe that the metaverse and immersive experiences will be a market differentiator in terms of customer experience.
The report surveyed 8,000 consumers, along with 1,000 organizations in 12 countries across different sectors to understand metaverse competency, interest and impact.
Included in the mix was a group of 380 consumers who self-identified as “metaverse-experienced,” of which three-quarters said they actively participate in the metaverse.
Data revealed that 93% of surveyed consumers said they are curious about the metaverse. Of that number, 51% said they would use the metaverse as it becomes more accessible to them.
Charlton Monsanto, the global immersive experiences offer leader at Capgemini, said the “consumer-facing metaverse” needs to address the challenges of accessibility and privacy among other things in order to move forward.
“The potential of the metaverse is transformative and consumer curiosity remains high."
Education and accessibility go hand in hand for emerging technologies and remain the biggest challenges for tech-savvy brands to communicate with consumers.
The survey also touched on the type of metaverse interactions consumers look for, to which 43% of respondents said they would like to interact with friends and family. This was followed by interactions with colleagues (39%), gaming-related experiences (33%), and commercial activity (28%).
With such an emphasis on connectivity, development in the metaverse has seen a rise in events which allow people to connect with one another, such as festivals and concerts.
Cryptocom Crypto Exchange Provides Proof of Reserves After Panic by Investors – Here’s What You Need to Know.
Crypto com has become the latest cryptocurrency exchange to release its Proof of Reserves data from auditing firm Mazars Group, proving that its clients' assets are fully backed one-to-one.
According to a Friday blog post, auditing firm Mazars conducted the verification process, revealing that the exchange's bitcoin reserves have a 102% collateralization ratio, its Ethereum reserves a 101% collateralization ratio, and its USDC and USDT reserves a 102% and 106% collateralization ratio.
"This independent third-party audited report performed under ISRS 4400 as set forth by the International Auditing and Assurance Standards Board (IAASB) used advanced cryptographic procedures to confirm the availability and backing of our customer balances," Crypto com said.
A Proof of Reserves (PoR) is an independent check conducted on centralized crypto exchanges by third parties. The goal is to make sure those platforms hold the assets they claim on behalf of their clients.
The audit comes as it was revealed in mid-November that Crypto com mistakenly sent 320,000 ETH to a wallet address linked to Gate io. While the exchange claims it has recovered the assets, it somehow impacted the credibility of the platform.
“Providing audited Proof of Reserves is an important step for the entire industry to increase transparency and begin the process of restoring trust,” said Kris Marszalek, CEO of Crypto com. “Crypto com is fully committed to providing customers around the world a safe, secure, and compliant means of engaging with digital currencies.”
As reported, Binance, the world's largest cryptocurrency exchange, also shared its Proof of Reserves report. Audited by Mazars, the report revealed that Binance's bitcoin reserves have a 101% collateralization ratio.
Other crypto platforms that have completed their Proof of Reserves audits include Kraken, Bitmex, Coinfloor, Gate io, and HBTC, according to data accumulated by Nic Carter, a partner at Castle Island Ventures and the cofounder of blockchain data aggregator Coinmetrics io.
It is worth noting that some industry veterans have argued that Proof of Reserves alone is not enough. That is because this practice does not reveal the overall balance sheet and the liabilities of a platform, which makes it hard for users to thoroughly verify the financial health of a company.
“Proof of Reserves is a good start, but it needs to be coupled with Proof of Liabilities in order to be useful,” said Ava Labs CEO Emin Gün Sirer. In other words, crypto platforms could simply borrow funds for a short term to complete their PoR.
Crypto com has become the latest cryptocurrency exchange to release its Proof of Reserves data from auditing firm Mazars Group, proving that its clients' assets are fully backed one-to-one.
According to a Friday blog post, auditing firm Mazars conducted the verification process, revealing that the exchange's bitcoin reserves have a 102% collateralization ratio, its Ethereum reserves a 101% collateralization ratio, and its USDC and USDT reserves a 102% and 106% collateralization ratio.
"This independent third-party audited report performed under ISRS 4400 as set forth by the International Auditing and Assurance Standards Board (IAASB) used advanced cryptographic procedures to confirm the availability and backing of our customer balances," Crypto com said.
A Proof of Reserves (PoR) is an independent check conducted on centralized crypto exchanges by third parties. The goal is to make sure those platforms hold the assets they claim on behalf of their clients.
The audit comes as it was revealed in mid-November that Crypto com mistakenly sent 320,000 ETH to a wallet address linked to Gate io. While the exchange claims it has recovered the assets, it somehow impacted the credibility of the platform.
“Providing audited Proof of Reserves is an important step for the entire industry to increase transparency and begin the process of restoring trust,” said Kris Marszalek, CEO of Crypto com. “Crypto com is fully committed to providing customers around the world a safe, secure, and compliant means of engaging with digital currencies.”
As reported, Binance, the world's largest cryptocurrency exchange, also shared its Proof of Reserves report. Audited by Mazars, the report revealed that Binance's bitcoin reserves have a 101% collateralization ratio.
Other crypto platforms that have completed their Proof of Reserves audits include Kraken, Bitmex, Coinfloor, Gate io, and HBTC, according to data accumulated by Nic Carter, a partner at Castle Island Ventures and the cofounder of blockchain data aggregator Coinmetrics io.
It is worth noting that some industry veterans have argued that Proof of Reserves alone is not enough. That is because this practice does not reveal the overall balance sheet and the liabilities of a platform, which makes it hard for users to thoroughly verify the financial health of a company.
“Proof of Reserves is a good start, but it needs to be coupled with Proof of Liabilities in order to be useful,” said Ava Labs CEO Emin Gün Sirer. In other words, crypto platforms could simply borrow funds for a short term to complete their PoR.
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Bahamian securities regulator slams new FTX CEO over 'misstatements'.
Bahamian regulators say that they were the first to take action against SBF, and that recent actions of the current CEO hindered their investigation.
The Securities Commission of Bahamas has slammed FTX's new CEO for his statements regarding the ongoing investigation into the bankrupt crypto exchange.
In a press release sent to Cointelegraph, the Bahaman regulator didn't directly point to the exact statement of John J. Ray III it has issues with, but addressed recent reports that the Bahamas' government had asked former CEO Sam Bankman-Fried to create a new multi-million token and hand over control to them.
The report also alleged Bahamas officials tried to help Bankman-Fried regain access to key computer systems of FTX. According to United States lawyers, Bahamas officials were “responsible for directing unauthorized access” to FTX systems in order to take over control of digital assets under the supervision of a U.S. court.
The securities regulator said that they were the first regulators to take strict action against the collapsed exchange and its CEO. Addressing the rumors over digital assets custody, the press release noted that the authorities secured the transfer of potentially “commingled digital assets” of FTX exchange on orders issued by the supreme court of the Bahamas. The press release read:
“The Commission holds those assets as trustee only (under Bahamian Law), and they will be ultimately distributed, to creditors and clients of FTX, wherever they may be located, in accordance with the court’s direction.”
The Bahamas regulator also slammed Ray for using “redacted email correspondence” between officials and Bankman-Fried. The release said that those redactions were designed to create a false impression of communications and that Ray was well aware of the complete scenario.
The securities regulator requested Ray and his representatives to not “obstruct the investigation,” and accused the CEO of not clearing his concerns with the commission first before airing them publically.
Bankman-Fried was arrested late on Dec. 12 by the Bahamas authorities at the request of the U.S. government. A day later, the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission charged Bankman Fried with defrauding U.S. investors.
Bahamian regulators say that they were the first to take action against SBF, and that recent actions of the current CEO hindered their investigation.
The Securities Commission of Bahamas has slammed FTX's new CEO for his statements regarding the ongoing investigation into the bankrupt crypto exchange.
In a press release sent to Cointelegraph, the Bahaman regulator didn't directly point to the exact statement of John J. Ray III it has issues with, but addressed recent reports that the Bahamas' government had asked former CEO Sam Bankman-Fried to create a new multi-million token and hand over control to them.
The report also alleged Bahamas officials tried to help Bankman-Fried regain access to key computer systems of FTX. According to United States lawyers, Bahamas officials were “responsible for directing unauthorized access” to FTX systems in order to take over control of digital assets under the supervision of a U.S. court.
The securities regulator said that they were the first regulators to take strict action against the collapsed exchange and its CEO. Addressing the rumors over digital assets custody, the press release noted that the authorities secured the transfer of potentially “commingled digital assets” of FTX exchange on orders issued by the supreme court of the Bahamas. The press release read:
“The Commission holds those assets as trustee only (under Bahamian Law), and they will be ultimately distributed, to creditors and clients of FTX, wherever they may be located, in accordance with the court’s direction.”
The Bahamas regulator also slammed Ray for using “redacted email correspondence” between officials and Bankman-Fried. The release said that those redactions were designed to create a false impression of communications and that Ray was well aware of the complete scenario.
The securities regulator requested Ray and his representatives to not “obstruct the investigation,” and accused the CEO of not clearing his concerns with the commission first before airing them publically.
Bankman-Fried was arrested late on Dec. 12 by the Bahamas authorities at the request of the U.S. government. A day later, the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission charged Bankman Fried with defrauding U.S. investors.
Crypto community reacts to Ledger wallet's secret recovery phrase service😜
Many members of the crypto community believe Ledger's latest seed phrase recovery feature is a bad idea.
🤩Several crypto community members, including Ledger wallet owners, have taken to social media to express their discontent following the release of Ledger's latest feature. The newly introduced retrieval solution for itshardware crypto wallets, known as Ledger Recover, aims to offer a safeguard in case users misplace their seed phrase.
👉Ledger Recover is a subscription service that allows users to utilize an additional layer of protection for their private keys. This service employs a technique where the user's seed phrase is divided into three encrypted fragments, each sent to different external entities. Once these fragments are combined and decrypted, they can be used to reconstruct the original seed phrase.
🙊The wallet provider shared that Ledger Recover is an optional subscription for users who want to back up their secret recovery phrase. "You don’t have to use it, and can continue managing your recovery phrase yourself if that’s why you bought a Ledger,” the company explained.
Nevertheless, the concept has enraged many in the crypto community, including security specialists.
😘Mudit Gupta, the chief information security officer at Polygon Labs, shared, “It's a horrendous idea, DON'T🥵 enable this feature.” Gupta expanded further in his Twitter thread that “The problem here is that the encrypted keys parts are sent to 3 corporations and they can reconstruct your keys.”
Many members of the crypto community believe Ledger's latest seed phrase recovery feature is a bad idea.
🤩Several crypto community members, including Ledger wallet owners, have taken to social media to express their discontent following the release of Ledger's latest feature. The newly introduced retrieval solution for itshardware crypto wallets, known as Ledger Recover, aims to offer a safeguard in case users misplace their seed phrase.
👉Ledger Recover is a subscription service that allows users to utilize an additional layer of protection for their private keys. This service employs a technique where the user's seed phrase is divided into three encrypted fragments, each sent to different external entities. Once these fragments are combined and decrypted, they can be used to reconstruct the original seed phrase.
🙊The wallet provider shared that Ledger Recover is an optional subscription for users who want to back up their secret recovery phrase. "You don’t have to use it, and can continue managing your recovery phrase yourself if that’s why you bought a Ledger,” the company explained.
Nevertheless, the concept has enraged many in the crypto community, including security specialists.
😘Mudit Gupta, the chief information security officer at Polygon Labs, shared, “It's a horrendous idea, DON'T🥵 enable this feature.” Gupta expanded further in his Twitter thread that “The problem here is that the encrypted keys parts are sent to 3 corporations and they can reconstruct your keys.”
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➡️ CWs mission is to revolutionize the investment landscape. Imagine retail investors getting crypto private sale deals like VCs! What if you got into Arbitrum before anyone even knew about it? Common Wealth is a mobile-first platform democratizing investment with Web3 tech. Everyone is welcome, crypto knowledge or not!
🚨HOLDER BENEFITS🚨
1. Share of 22 million $WLTH tokens
2. Share of 3% protocol profits for life
3. Gated access to premium groups, events and alpha
4. Additional benefits will be added
👉Check out our Telegram Chat (meet the team): https://t.me/commonwealth_chat
🌐 Website: joincommonwealth.xyz
Forwarded from Crypto LVL
Responsible AI can create policies to help ‘better serve society’ ✅
👌 Artificial intelligence (AI) has been a talking point for governments and thought leaders worldwide since ChatGPT emerged in late November 2022. While some question the ramifications of AI becoming a mainstay in society, others are embracing the technology head-on.
🔥 Recently, the Romanian government unveiled a new AI chatbot, Ion, created to source community concerns and opinions to develop policy recommendations based on collected data.
⭐️ “The potential benefits of AI are substantial and further exploration of its application in the public sector is warranted for enhancing public services, policies, and to improve citizens’ lives.”
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