Web3 Security Company Cyvers Releases DeFi Threat Detection Report.
Cyvers, a web3 security company founded by Deddy Lavid and Meir Dolev, has released a security report analyzing the major events, types of threats, and best practices for protecting assets in the DeFi space. The comprehensive report provides valuable insights for projects and organizations looking to securely participate in the web3 ecosystem.
The state of web3 security in 2022 was a major concern for industry participants and regulators alike. The rapid evolution of financial technology in the space led to an increase in security vulnerabilities and a corresponding rise in hacking incidents. Over $3.1 billion was lost by well-established projects and protocols.
The year saw a significant increase in both smart contract exploits and bridge hacks, with the former accounting for 50% of total funds lost. Despite this, the industry also saw positive developments such as the successful Ethereum merge and increased institutional adoption.
Cyvers’ report documents 61 of the most significant web3 hacks and provides industry participants with practical guidance for minimizing risk and protecting assets.
Auditing is a widespread practice, but smart contract vulnerabilities are still the main source of exploitation. The average attack usually takes more than one hour to complete and 98% of all hacked protocols didn’t respond within the first hour.
Cyvers CEO Deddy Lavid said: “This shows how important it is to have a solution for monitoring smart contracts that can provide safety, ensuring preventative measures are in place before the exploit occurs.”
Cyvers, a web3 security company founded by Deddy Lavid and Meir Dolev, has released a security report analyzing the major events, types of threats, and best practices for protecting assets in the DeFi space. The comprehensive report provides valuable insights for projects and organizations looking to securely participate in the web3 ecosystem.
The state of web3 security in 2022 was a major concern for industry participants and regulators alike. The rapid evolution of financial technology in the space led to an increase in security vulnerabilities and a corresponding rise in hacking incidents. Over $3.1 billion was lost by well-established projects and protocols.
The year saw a significant increase in both smart contract exploits and bridge hacks, with the former accounting for 50% of total funds lost. Despite this, the industry also saw positive developments such as the successful Ethereum merge and increased institutional adoption.
Cyvers’ report documents 61 of the most significant web3 hacks and provides industry participants with practical guidance for minimizing risk and protecting assets.
Auditing is a widespread practice, but smart contract vulnerabilities are still the main source of exploitation. The average attack usually takes more than one hour to complete and 98% of all hacked protocols didn’t respond within the first hour.
Cyvers CEO Deddy Lavid said: “This shows how important it is to have a solution for monitoring smart contracts that can provide safety, ensuring preventative measures are in place before the exploit occurs.”
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💎 Future-AI:
Is a fully decentralized, self-managed wallet protocol where we grant our investors to easily and securely interact with their tokens, all supported by superior risk analysis and smart contract management tools.
💎 Future-AI's Mission:
Our main mission is to use AI and all DeFi technologies to integrate democratic and decentralized properties. We will grant our investors a bot for social networks (Telegram, Discord and Twiiter) and character creation through AI (personalities, voices, bodies, using totally natural language) among other applications that we will grant to our public.
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Links: 🚀 Pinksale | 👍 Telegram | 🌐 Website | 👍 Twitter
ADA-backed algorithmic stablecoin ‘Djed’ launched on Cardano.
After its successful security audit, the algorithmic stablecoin, Djed, from DeFi service provider COTI, deployed on the Cardano mainnet.
Since the fall of the TerraUSD (UST) algorithmic stablecoin in May 2022, many users in the crypto space have developed a weariness toward that particular asset class. The market for algorithmic stablecoins has declined 10x from its all-time high before the Terra collapse.
However, this has not stopped Cardano network developers from pushing forward with the launch of the ecosystem’s overcollateralized stablecoin on Jan.31. The new algorithmic stablecoin, Djed (DJED), launched on the Cardano mainnet and is pegged to the United States dollar and backed by Cardano’s native cryptocurrency, It uses the Shen (SHEN) token as its reserve coin.
According to the announcement, the new token recently completed a successful security audit and was under development for over a year. DJED is a product of Coti, a decentralized finance (DeFi) solutions developer on the Cardano blockchain, as a means for new DeFi and payment opportunities.
Prior to the launch of the new Cardano stablecoin, the idea of bringing another algorithmic stablecoin into existence caused tremors among the online crypto community.
This is one of the latest in a series of recent updates coming out of the Cardano network, which included an announcement from co-founder Charles Hoskinson on Jan.12 that the ecosystem will expand via custom-built sidechains.
On Jan. 23, due to an anomaly, 50% of Cardano nodes disconnected and had to restart, which caused a network outage. This was only one week before the launch of the new algorithmic stablecoin.
At the beginning of 2023, Bloomberg reported that the risk assessment firm Moody’s Corporation is developing a scoring system for stablecoins, including an initial analysis for up to 20 digital assets.
After its successful security audit, the algorithmic stablecoin, Djed, from DeFi service provider COTI, deployed on the Cardano mainnet.
Since the fall of the TerraUSD (UST) algorithmic stablecoin in May 2022, many users in the crypto space have developed a weariness toward that particular asset class. The market for algorithmic stablecoins has declined 10x from its all-time high before the Terra collapse.
However, this has not stopped Cardano network developers from pushing forward with the launch of the ecosystem’s overcollateralized stablecoin on Jan.31. The new algorithmic stablecoin, Djed (DJED), launched on the Cardano mainnet and is pegged to the United States dollar and backed by Cardano’s native cryptocurrency, It uses the Shen (SHEN) token as its reserve coin.
According to the announcement, the new token recently completed a successful security audit and was under development for over a year. DJED is a product of Coti, a decentralized finance (DeFi) solutions developer on the Cardano blockchain, as a means for new DeFi and payment opportunities.
Prior to the launch of the new Cardano stablecoin, the idea of bringing another algorithmic stablecoin into existence caused tremors among the online crypto community.
This is one of the latest in a series of recent updates coming out of the Cardano network, which included an announcement from co-founder Charles Hoskinson on Jan.12 that the ecosystem will expand via custom-built sidechains.
On Jan. 23, due to an anomaly, 50% of Cardano nodes disconnected and had to restart, which caused a network outage. This was only one week before the launch of the new algorithmic stablecoin.
At the beginning of 2023, Bloomberg reported that the risk assessment firm Moody’s Corporation is developing a scoring system for stablecoins, including an initial analysis for up to 20 digital assets.
📢 Trading of $GTO has been stopped and $GTO tokens will be swapped automatically to $GFT on Binance.
$GFT listing date: 8th Feb 8:00 UTC
❗️ Details of the $GTO > $GFT swap:
https://www.binance.com/en/support/announcement/binance-will-support-the-gifto-gto-token-swap-to-gifto-gft-2300adb470e54d4ba8db292e54e85a93
#Crypto #Blockchain #Gifto #BSC
#Megaexpansion #Day19
$GFT listing date: 8th Feb 8:00 UTC
❗️ Details of the $GTO > $GFT swap:
https://www.binance.com/en/support/announcement/binance-will-support-the-gifto-gto-token-swap-to-gifto-gft-2300adb470e54d4ba8db292e54e85a93
#Crypto #Blockchain #Gifto #BSC
#Megaexpansion #Day19
Hong Kong securities regulator adds crypto personnel for industry supervision.
Regulators in Hong Kong plan for the addition of personnel to “better supervise” the activities of local virtual asset providers.
Regulators in Hong Kong are stepping up their game when it comes to monitoring the activities of the crypto industry.
According to a Securities and Futures Commission report filed on Feb. 6, it plans to hire four additional staff to “better supervise” the activities of local virtual asset (VA) providers. Moreover, the extra oversight will help “better assess the compliance and risk” by allowing retail investors to trade virtual assets on regulated platforms.
The commission wrote:
“This is in response to an increasing number of operators who have expressed interest in carrying on VA activities such as trading platforms and the management of VA funds.”
This comes at the onset of the introduction of a new licensing regime to allow greater retail crypto investment.
Previously trading platforms licensed in Hong Kong were only permitted to serve professional investors, or investors with portfolios of at least $1 million (HK $8 million), according to regulators.
In December 2022, the new licensing regime was approved as an amendment to the Anti-Money Laundering and Counter-Terrorist Financing Bill. However, it takes effect in June 2023, which gives time for regulators and local businesses time to prepare for a new wave of participation in the industry.
Hong Kong has been active in its plan to revamp its crypto industry and become a hub for Web3 innovation. Part of this plan included an investment fund of $500 million to push for mass adoption in the local industry.
Most recently, the Hong Kong Monetary Authority recently released a statement saying that it will not tolerate algorithmic stablecoins in its newest regulation. However, the regulator said that it intends to develop a full-bodied regulatory framework for stablecoins, which will be based on the full backing of such assets.
Regulators in Hong Kong plan for the addition of personnel to “better supervise” the activities of local virtual asset providers.
Regulators in Hong Kong are stepping up their game when it comes to monitoring the activities of the crypto industry.
According to a Securities and Futures Commission report filed on Feb. 6, it plans to hire four additional staff to “better supervise” the activities of local virtual asset (VA) providers. Moreover, the extra oversight will help “better assess the compliance and risk” by allowing retail investors to trade virtual assets on regulated platforms.
The commission wrote:
“This is in response to an increasing number of operators who have expressed interest in carrying on VA activities such as trading platforms and the management of VA funds.”
This comes at the onset of the introduction of a new licensing regime to allow greater retail crypto investment.
Previously trading platforms licensed in Hong Kong were only permitted to serve professional investors, or investors with portfolios of at least $1 million (HK $8 million), according to regulators.
In December 2022, the new licensing regime was approved as an amendment to the Anti-Money Laundering and Counter-Terrorist Financing Bill. However, it takes effect in June 2023, which gives time for regulators and local businesses time to prepare for a new wave of participation in the industry.
Hong Kong has been active in its plan to revamp its crypto industry and become a hub for Web3 innovation. Part of this plan included an investment fund of $500 million to push for mass adoption in the local industry.
Most recently, the Hong Kong Monetary Authority recently released a statement saying that it will not tolerate algorithmic stablecoins in its newest regulation. However, the regulator said that it intends to develop a full-bodied regulatory framework for stablecoins, which will be based on the full backing of such assets.
#NFA #DYOR
GymAI $GYMAI
https://www.pinksale.finance/launchpad/0xaC47aEC28C62cf7b454237c51ff9B633f5475442?chain=BSC
GymAI is a project part of the AI trend, that uses AI to provide users with custom suggestions for improving their well-being and fitness. The user can input data like their fitness goals, dietary preferences and their current fitness level, in order to receive AI-generated recommendations tailored to their needs. The project provides a GymAI Chat Bot which can answer questions about dieting and working out, and a mobile app which makes it easier to track your progress.
The team is audited and KYC’ed, and the token $GYMAI is 0% tax.
For more info:
Website | Telegram | Twitter
GymAI $GYMAI
https://www.pinksale.finance/launchpad/0xaC47aEC28C62cf7b454237c51ff9B633f5475442?chain=BSC
GymAI is a project part of the AI trend, that uses AI to provide users with custom suggestions for improving their well-being and fitness. The user can input data like their fitness goals, dietary preferences and their current fitness level, in order to receive AI-generated recommendations tailored to their needs. The project provides a GymAI Chat Bot which can answer questions about dieting and working out, and a mobile app which makes it easier to track your progress.
The team is audited and KYC’ed, and the token $GYMAI is 0% tax.
For more info:
Website | Telegram | Twitter
PayPal Reveals Massive Cryptocurrency Holdings Totaling $604 Million.
Global payment giant PayPal held $604 million of cryptocurrencies for its customers by the end of 2022, with Bitcoin and Ethereum accounting for almost 90% of that figure.
PayPal held $291 million in BTC, $250 million in ETH, and another $63 million in Litecoin and Bitcoin Cash as of December 31, according to its annual report to the U.S. Securities and Exchange Commission (SEC).
The company's crypto holding of $604 million at the end of 2022 is down from the $690 million the company held as of September. The drop comes amid plunging crypto prices and exacerbating user trust in the industry following the disastrous collapse of cryptocurrency exchange FTX.
The amount of PayPal’s crypto holdings account for 67% of the company’s total financial liabilities, amounting to $902 million as of December 31. As per the filing, the company's total financial assets stood at more than $25 billion, according to the filing.
PayPal introduced the service allowing U.S.-based customers to buy and sell specific cryptocurrencies in October 2020. The company has since expanded the service to the UK, and plans for more international expansion.
Notably, this marks the first time the payments giant has included a breakdown of its crypto holdings, as its previous annual financial report did not disclose its crypto assets. In the filing, PayPal said they felt the need to include the breakdown of its crypto holdings due to the recent developments in the industry. It wrote:
“Due to the unique risks associated with cryptocurrencies, including technological, legal, and regulatory risks, we recognize a crypto asset safeguarding liability to reflect our obligation to safeguard the crypto assets held for the benefit of our customers.”
PayPal further detailed that they store customers’ digital assets through a third-party custodian. The company noted that it contractually requires the custodian to segregate customer assets and not mix them with proprietary or other assets, adding:
“We cannot be certain that these contractual obligations, even if duly observed by the custodian, will be effective in preventing such assets from being treated as part of the custodian’s estate under bankruptcy or other insolvency law.”
Global payment giant PayPal held $604 million of cryptocurrencies for its customers by the end of 2022, with Bitcoin and Ethereum accounting for almost 90% of that figure.
PayPal held $291 million in BTC, $250 million in ETH, and another $63 million in Litecoin and Bitcoin Cash as of December 31, according to its annual report to the U.S. Securities and Exchange Commission (SEC).
The company's crypto holding of $604 million at the end of 2022 is down from the $690 million the company held as of September. The drop comes amid plunging crypto prices and exacerbating user trust in the industry following the disastrous collapse of cryptocurrency exchange FTX.
The amount of PayPal’s crypto holdings account for 67% of the company’s total financial liabilities, amounting to $902 million as of December 31. As per the filing, the company's total financial assets stood at more than $25 billion, according to the filing.
PayPal introduced the service allowing U.S.-based customers to buy and sell specific cryptocurrencies in October 2020. The company has since expanded the service to the UK, and plans for more international expansion.
Notably, this marks the first time the payments giant has included a breakdown of its crypto holdings, as its previous annual financial report did not disclose its crypto assets. In the filing, PayPal said they felt the need to include the breakdown of its crypto holdings due to the recent developments in the industry. It wrote:
“Due to the unique risks associated with cryptocurrencies, including technological, legal, and regulatory risks, we recognize a crypto asset safeguarding liability to reflect our obligation to safeguard the crypto assets held for the benefit of our customers.”
PayPal further detailed that they store customers’ digital assets through a third-party custodian. The company noted that it contractually requires the custodian to segregate customer assets and not mix them with proprietary or other assets, adding:
“We cannot be certain that these contractual obligations, even if duly observed by the custodian, will be effective in preventing such assets from being treated as part of the custodian’s estate under bankruptcy or other insolvency law.”
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Price prediction 0.035 (28%+) in ~3 days
📅 Change story Live inside Telegram
↗️24 hours: +5.31%
↗️7 days: +16.79%
Automatic withdrawal from Telegram without hold in all directions!
Official Website
Powered by artificial intelligence and created by a team of developers next to Telegram
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📉 Optimism Drops 10% Following 11M Token Airdrop
Optimism airdropped 11.7 million tokens to more than 300,000 wallets, bringing the total number of OP tokens in circulation to 234.74 million. The airdrop is intended to reward “positive-sum governance participation and power users of Optimism Mainnet,” according to a statement made on February 9.
As a result of the revelation, the OP token dropped 13% in the last 24 hours to $2.33 as of the time of this writing, according to data from CryptoSlate. OP has increased by more than 200% since January 1 and is one of the best-performing digital assets year to date. On February 3, thanks to its strong price development, it hit a brand-new all-time high (ATH) of $3.20. The airdrop is intended to reward “positive-sum governance participation and power users of Optimism Mainnet,” according to a statement made on February 9. Users who have spent more than $6.10 on gas since March 25, 2022.
Optimism airdropped 11.7 million tokens to more than 300,000 wallets, bringing the total number of OP tokens in circulation to 234.74 million. The airdrop is intended to reward “positive-sum governance participation and power users of Optimism Mainnet,” according to a statement made on February 9.
As a result of the revelation, the OP token dropped 13% in the last 24 hours to $2.33 as of the time of this writing, according to data from CryptoSlate. OP has increased by more than 200% since January 1 and is one of the best-performing digital assets year to date. On February 3, thanks to its strong price development, it hit a brand-new all-time high (ATH) of $3.20. The airdrop is intended to reward “positive-sum governance participation and power users of Optimism Mainnet,” according to a statement made on February 9. Users who have spent more than $6.10 on gas since March 25, 2022.
🔼GoFitter AI Fairlaunch live🔼
▶️Fairlaunch link:
https://www.pinksale.finance/launchpad/0xDA8a40AB45D68f560580822d225ca153ef21238D?chain=BSC
🤔Taxes:
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3% on Sell
Utilities:
App Live on playStore Gofitter AI is All utility is already live no fake promises you can start earning Tokens instantly.
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✅TG: - https://t.me/GoFitterai
🌍Web: - http://gofitter.io
✅ https://twitter.com/GoFitterAI
🗞Medium:-https://medium.com/@GoFitter
🪩Discord:-https://discord.gg/ftNkHAM9jB
▶️Fairlaunch link:
https://www.pinksale.finance/launchpad/0xDA8a40AB45D68f560580822d225ca153ef21238D?chain=BSC
🤔Taxes:
0% on Buy
3% on Sell
Utilities:
App Live on playStore Gofitter AI is All utility is already live no fake promises you can start earning Tokens instantly.
App Live on playStore Experienced team with 30x+ projects before this line
App Live on playStore Both App Live on playStore
App Live on playStore NFT Live
App Live on playStore Staking live
App Live on playStore Token Claim Portal for P2E+M2E
Join our community to stay updated
✅TG: - https://t.me/GoFitterai
🌍Web: - http://gofitter.io
✅ https://twitter.com/GoFitterAI
🗞Medium:-https://medium.com/@GoFitter
🪩Discord:-https://discord.gg/ftNkHAM9jB
🇧🇷 Tether dominates Brazil as bitcoin, ether fall out of favor
In a country where economic instability is as common as coconuts, Brazilians appear to favor the stablecoin tether as their cryptocurrency of choice. The federal tax authority, which compiles data from foreign and local exchanges on cryptocurrency usage, said that the value of all transactions for tether jumped 58%.
Last year, Brazil approved a law regulating cryptocurrencies, a major step forward as the country embraces digital assets. “Customers want a way to expand their earnings,” he said in October. “The retail growth in the number of users in crypto has been much faster than in the equities market." The main use case for Brazilians is as a speculative investment, Chainalysis reported Thomaz Fortes, the crypto lead at Brazil's Nubank, as saying. Nubank reached 1.8 million crypto customers about four months after launching the service.
In a country where economic instability is as common as coconuts, Brazilians appear to favor the stablecoin tether as their cryptocurrency of choice. The federal tax authority, which compiles data from foreign and local exchanges on cryptocurrency usage, said that the value of all transactions for tether jumped 58%.
Last year, Brazil approved a law regulating cryptocurrencies, a major step forward as the country embraces digital assets. “Customers want a way to expand their earnings,” he said in October. “The retail growth in the number of users in crypto has been much faster than in the equities market." The main use case for Brazilians is as a speculative investment, Chainalysis reported Thomaz Fortes, the crypto lead at Brazil's Nubank, as saying. Nubank reached 1.8 million crypto customers about four months after launching the service.
🚨 Gensler opens new regulatory front for crypto firms: custody
SEC Chair Gary Gensler signaled an escalation to his post-FTX crackdown on the crypto industry on Wednesday, saying that digital asset firms are in broad violation of current custodial rules meant to safeguard customers. It’s the latest area where the SEC chair plans to expand scrutiny of digital asset firms.
The custodial moves come in reaction to hundreds of thousands of FTX, Celsius, BlockFi and Voyager customers becoming unsecured creditors in the bankruptcies of those firms last year. That status makes it unlikely customers will fully recover assets they parked with those companies, which legally must maximize payments to as many entities and people they owe money to as possible. The markets regulator noted that other agencies on the state and federal level define what companies constitute a bank.
SEC Chair Gary Gensler signaled an escalation to his post-FTX crackdown on the crypto industry on Wednesday, saying that digital asset firms are in broad violation of current custodial rules meant to safeguard customers. It’s the latest area where the SEC chair plans to expand scrutiny of digital asset firms.
The custodial moves come in reaction to hundreds of thousands of FTX, Celsius, BlockFi and Voyager customers becoming unsecured creditors in the bankruptcies of those firms last year. That status makes it unlikely customers will fully recover assets they parked with those companies, which legally must maximize payments to as many entities and people they owe money to as possible. The markets regulator noted that other agencies on the state and federal level define what companies constitute a bank.
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CryptoGPT on DaoMaker, is nothing but an icing on the cake 🥂
CryptoGPT.org is the ZK Layer-2 blockchain that powers the AI revolution.
Turn every task of your daily life into a source of income - own the monetisation of your data with #AItoEarn
CryptoGPT (Token: $GPT) blockchain hosts apps with 2+ million active users, placing it as one of the biggest blockchains at launch.
Full Research Page: https://daomaker.com/company/cryptogpt
Socials👇
Website: CryptoGPT.org
Twitter: twitter.com/CryptoGPT_org
Telegram: https://t.me/CryptoGPTorg
CryptoGPT.org is the ZK Layer-2 blockchain that powers the AI revolution.
Turn every task of your daily life into a source of income - own the monetisation of your data with #AItoEarn
CryptoGPT (Token: $GPT) blockchain hosts apps with 2+ million active users, placing it as one of the biggest blockchains at launch.
Full Research Page: https://daomaker.com/company/cryptogpt
Socials👇
Website: CryptoGPT.org
Twitter: twitter.com/CryptoGPT_org
Telegram: https://t.me/CryptoGPTorg
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dStorage (dSt) Pre-Sale 🧑🚀🚀
✅dStorage (dSt) token is built on Binance Smart Chain. Our token allows to save data over the network and use the dStorage data protocol.
✅Get your place in the pre-sale now in this project where cloud technology turns into a decentralized world!
✅You don't need a password for extra security. Meet with dStorage technology, access all your data only with your web3 wallet!
✅ Safe storage, simultaneous operation with all devices, low energy consumption and environmentally friendly.
🔸Important links:
💠Website: https://dstorage.pro/presale
💠Telegram group : https://t.me/dstoragepro
💠Twitter: https://twitter.com/dstoragepro
✅dStorage (dSt) token is built on Binance Smart Chain. Our token allows to save data over the network and use the dStorage data protocol.
✅Get your place in the pre-sale now in this project where cloud technology turns into a decentralized world!
✅You don't need a password for extra security. Meet with dStorage technology, access all your data only with your web3 wallet!
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The crypto industry has ‘already started’ moving outside US, says Ripple CEO.
Ripple’s CEO Brad Garlinghouse said the SEC’s lawsuit against Ripple is the regulator playing “offense” and “attacking” the industry as a whole.
The United States Securities and Exchange Commission’s (SEC) regulation through “enforcement” is not a “healthy way” to regulate an industry, and may result in the U.S. being a less attractive location for crypto firms, suggests Ripple’s CEO.
In a March🌸 3 Bloomberg interview, Brad Garlinghouse, CEO of blockchain-based digital payment network Ripple, suggested that the SEC’s regulation approach puts the U.S. at “severe risk” of missing out on being an attractive hub for the next evolution of blockchain and crypto innovation.
Garlinghouse noted that the SEC’s case against Ripple is the SEC simply playing “offense” and “attacking” the industry as a whole, adding that if the SEC is “able to prevail,” there will be “a lot of other cases.”
💰He suggested that the crypto industry has “already started moving outside” of the U.S., given its crypto regulation process is “behind” other countries like “Australia, the United Kingdom, Japan, Singapore and Switzerland.”
He commended these countries for taking “the time and thoughtfulness” to create “clear rules of the road,” adding that the approach taken by the U.S. is not a “healthy way to regulate an industry.”
Garlinghouse recalled when he “first got into the tech industry in the late 90s,” there were proposals to ban the internet due to “illicit activity,” but the government refuted the idea and decided to “create a framework.”
👉He emphasized “the benefits” this early adoption brought on a “geopolitical basis,” to have the “Amazon’s and Google’s” based in the U.S., suggesting that the same opportunity is currently on the table with creating a framework for crypto.
Garlinghouse believes the framework process should begin with outlining “clear protections for consumers.”
He added that consumers are suffering from the “lag,” as they lack the “same protection” that regulatory frameworks “can provide.“
Garlinghouse believes that a decision should come this year in the SEC’s case against Ripple.
Ripple’s CEO Brad Garlinghouse said the SEC’s lawsuit against Ripple is the regulator playing “offense” and “attacking” the industry as a whole.
The United States Securities and Exchange Commission’s (SEC) regulation through “enforcement” is not a “healthy way” to regulate an industry, and may result in the U.S. being a less attractive location for crypto firms, suggests Ripple’s CEO.
In a March🌸 3 Bloomberg interview, Brad Garlinghouse, CEO of blockchain-based digital payment network Ripple, suggested that the SEC’s regulation approach puts the U.S. at “severe risk” of missing out on being an attractive hub for the next evolution of blockchain and crypto innovation.
Garlinghouse noted that the SEC’s case against Ripple is the SEC simply playing “offense” and “attacking” the industry as a whole, adding that if the SEC is “able to prevail,” there will be “a lot of other cases.”
💰He suggested that the crypto industry has “already started moving outside” of the U.S., given its crypto regulation process is “behind” other countries like “Australia, the United Kingdom, Japan, Singapore and Switzerland.”
He commended these countries for taking “the time and thoughtfulness” to create “clear rules of the road,” adding that the approach taken by the U.S. is not a “healthy way to regulate an industry.”
Garlinghouse recalled when he “first got into the tech industry in the late 90s,” there were proposals to ban the internet due to “illicit activity,” but the government refuted the idea and decided to “create a framework.”
👉He emphasized “the benefits” this early adoption brought on a “geopolitical basis,” to have the “Amazon’s and Google’s” based in the U.S., suggesting that the same opportunity is currently on the table with creating a framework for crypto.
Garlinghouse believes the framework process should begin with outlining “clear protections for consumers.”
He added that consumers are suffering from the “lag,” as they lack the “same protection” that regulatory frameworks “can provide.“
Garlinghouse believes that a decision should come this year in the SEC’s case against Ripple.
In March, the Tournament Banners Fly.
The GFAL Ignite Tournament ⚔️
Start date: Thursday, March 2, 2023 15:00 UTC
End date: Wednesday, March 8, 2023 15:00 UTC
Prize Pool: $35,000
Time is of the essence, train hard to claim the title of Champion.
More info:
https://elementalraiders.gamesforaliving.com/gfal-ignite-tournament/
The GFAL Ignite Tournament ⚔️
Start date: Thursday, March 2, 2023 15:00 UTC
End date: Wednesday, March 8, 2023 15:00 UTC
Prize Pool: $35,000
Time is of the essence, train hard to claim the title of Champion.
More info:
https://elementalraiders.gamesforaliving.com/gfal-ignite-tournament/
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Figure DAO is a decentralized community middleware between the Foundations of leading L1/L2s and their project pipelines. Proudly working with ETH, BSC SmartChain, Arbitrum, for interchain future.
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Token Info
Token Name: Figure DAO
Token Symbol: FDAO
Token Network: Smartchain
Token Supply: 20,000,000 FDAO
Social :
Twitter | Medium | Telegram
Links :
▪️Website
▪️CoinGecko
▪️Whitepaper
▪️Buy Presale
The next-gen decentralized protocol for Interchain Swaps, Fundraising and more 😎
Figure DAO is a decentralized community middleware between the Foundations of leading L1/L2s and their project pipelines. Proudly working with ETH, BSC SmartChain, Arbitrum, for interchain future.
Interchain incubator DAO & DeFi Powerhouse : Figure DAO is the next-generation protocol for decentralized fundraising. It will enable projects to raise funds, with one of the most diverse type of profiles in the market.
Token Info
Token Name: Figure DAO
Token Symbol: FDAO
Token Network: Smartchain
Token Supply: 20,000,000 FDAO
Social :
Twitter | Medium | Telegram
Links :
▪️Website
▪️CoinGecko
▪️Whitepaper
▪️Buy Presale
The next-gen decentralized protocol for Interchain Swaps, Fundraising and more 😎
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Start a Telegram bot. Put in a brief description about yourself. A neural network, based on your preferences will choose you a perfect match for communicating — like that, every week.
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We are creating a space in WEB3, where people can trust each other, share their experiences, partner up without wasting time on empty conversations and scams.
Are you a founder? Find investors.
Are you a venture investor? Find like-minded people and have an opportunity to invest in an already verified project.
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