🚀 Binance to Support Viction (VIC) Network Upgrade and Hard Fork
#Binance #Viction #VIC #networkupgrade #hardfork #tokensupply #cryptocurrency #trading #riskwarning
Binance has announced its support for the upcoming Viction (VIC) network upgrade and hard fork. To ensure a seamless user experience, Binance will temporarily suspend deposits and withdrawals of VIC tokens starting from 07:00 UTC on October 29, 2024.Key Details of the Upgrade:Upgrade Timing: The upgrade and hard fork will occur at block height 86,158,494, expected around 08:00 UTC on October 29, 2024.Tokenomics Changes:Total Supply Increase: The total supply of VIC tokens will rise from 100,000,000 to 210,000,000.Circulating Supply Boost: An additional 20,000,000 tokens will be added to the circulating supply immediately following the upgrade.Risk Warning for Traders: Before trading VIC, users will see a risk warning banner and pop-up notification.#Binance #Viction #VIC #networkupgrade #hardfork #tokensupply #cryptocurrency #trading #riskwarning
🚀 India Considers Banning Private Cryptocurrencies While Promoting CBDC Adoption
#India #Cryptocurrency #CBDC #Bitcoin #ReserveBankofIndia #FinancialRegulation #DigitalCurrency #Economy
According to BlockBeats, the Indian government is contemplating a ban on private cryptocurrencies such as Bitcoin while actively promoting the adoption of a Central Bank Digital Currency (CBDC). This development follows consultations with several key institutions, as reported by the Hindustan Times.
India's stance on cryptocurrencies has seen multiple shifts over the years. In 2018, the Reserve Bank of India (RBI) prohibited banks from handling cryptocurrency transactions, a decision that was overturned by the Supreme Court in 2020. In November 2023, RBI Governor Shaktikanta Das highlighted the potential risks that cryptocurrencies pose to the Indian economy, advocating for CBDCs as a safer alternative.#India #Cryptocurrency #CBDC #Bitcoin #ReserveBankofIndia #FinancialRegulation #DigitalCurrency #Economy
🚀 IcomTech Co-Founder Gustavo Rodriguez Convicted Of Wire Fraud
#IcomTech #GustavoRodriguez #wirefraud #cryptocurrency #PonziScheme #DavidCarmona #NewYorkCourt #cryptocurrencynews #fraudinvestigation
According to Odaily, Gustavo Rodriguez, one of the founders of the cryptocurrency mining and trading company IcomTech, has been convicted of wire fraud. Rodriguez will have a few days to prepare his testimony and cross-examination before the sentencing in a New York court. During a hearing on October 22 at the Southern District Court of New York, Rodriguez's lawyer requested Judge Jennifer Rochon to allow an evidentiary hearing, expressing the intention to testify during the trial scheduled for March 2024. The judge stated that the court would hear testimonies from Rodriguez and a witness on October 25.
Rodriguez, along with his colleague David Brend, is one of the two founders of IcomTech. Both were implicated in the indictment against the project's founder, David Carmona. Authorities have accused IcomTech of being a cryptocurrency Ponzi scheme that defrauded users of over $8 million between 2018 and 2019. Carmona pleaded guilty to wire fraud in December 2023 and was sentenced to ten years in prison in October 2024.#IcomTech #GustavoRodriguez #wirefraud #cryptocurrency #PonziScheme #DavidCarmona #NewYorkCourt #cryptocurrencynews #fraudinvestigation
🚀 Meta Tests Facial Recognition To Combat Fake Celebrity Scam Ads
#Meta #FacialRecognition #CelebrityScams #ScamAds #CyberCrime #Privacy #BiometricData #Deepfakes #SocialMedia #UserProtection
According to Cointelegraph, Meta, a social network company with nearly 4 billion users, is testing facial recognition technology to combat fake celebrity scam ads on its platforms. Early testing with a small group of celebrities has shown promising results, and the company plans to trial the technology with 50,000 celebrities and public figures in the coming weeks.
The system compares images in the ads against the celebrity’s Facebook and Instagram profile pictures to identify scams. If a match is confirmed and the ad is determined to be a scam, it will be blocked. Celebrities such as Tesla CEO Elon Musk, American TV host Oprah Winfrey, and Australian mining billionaires Andrew Forrest and Gina Rinehart have been impersonated in scam ads in the past.
Meta’s initiative is part of a broader crackdown against “celeb-bait” scams, where cyber criminals use sophisticated methods to steal personal information or money from victims. The company stated that this scheme violates its policies and is harmful to users. Meta will soon start sending in-app notifications to many targeted celebrities, informing them of their enrollment in the protection measure, with an option to opt-out.
However, Meta must proceed with caution following a recent $1.4 billion settlement with Texas for using personal biometric data without legal authorization. The company assured that it would immediately delete facial data generated when determining whether a celebrity ad is a scam. Additionally, facial recognition technology will be used to help people verify their identity and regain access to compromised accounts.
Despite the rise in crypto scam advertisements on Facebook, Meta refuted claims from Australia’s consumer regulator that nearly 60% of crypto investment schemes seen on Facebook were scams in August. Many victims are lured into these scams via AI-generated deepfakes.#Meta #FacialRecognition #CelebrityScams #ScamAds #CyberCrime #Privacy #BiometricData #Deepfakes #SocialMedia #UserProtection
🚀 ECB Report Criticizes Bitcoin, Highlights Wealth Gap and Volatility
#ECB #Bitcoin #WealthInequality #Volatility #SpeculativeAsset #CBDC #FinancialInclusion #StoreOfValue #HedgingTool #CrossBorderRemittances #BTC
According to BlockBeats, a recent report by the European Central Bank (ECB) on October 23, 2023, suggests that Bitcoin's appreciation is exacerbating wealth inequality, benefiting early adopters at the expense of latecomers. The report highlights Bitcoin's volatility and categorizes it as a speculative asset with minimal productive economic contribution. Additionally, the paper positions central bank digital currencies (CBDCs) as a superior alternative to Bitcoin, citing their stability and financial inclusivity.
This characterization portrays Bitcoin as a potentially destabilizing force within the existing economic order. However, critics argue that the ECB's analysis misunderstands Bitcoin's development and its role in the financial system. They contend that the focus on Bitcoin's volatility overlooks its function as a store of value, similar to gold. The rising price of Bitcoin, they argue, indicates its growing recognition as a hedging tool rather than merely a speculative asset.
Freddy, the policy director at Bitcoin Policy UK, expressed regret that the authors of such papers often fail to review the latest research and developments in the field. He pointed out Bitcoin's increasing importance for activists working under oppressive regimes where other payment methods may not be available, and its role in providing cheap, fast, and secure cross-border remittances. Freddy emphasized that neglecting the latest research significantly diminishes the value of any such report.#ECB #Bitcoin #WealthInequality #Volatility #SpeculativeAsset #CBDC #FinancialInclusion #StoreOfValue #HedgingTool #CrossBorderRemittances #BTC
🚀 Neo Enhances Security of EVM-Compatible Sidechain Neo X
#Neo #Blockchain #SecurityAudit #EVM #NeoX #CrossChain #OpenSource #Mainnet #Developers #Crypto
According to Foresight News, the community-driven open-source blockchain platform Neo has recently announced a collaboration with security audit firms BlockSec, Secure3, and Red4Sec. This partnership has successfully completed a security audit of Neo's EVM-compatible sidechain, Neo X, enhancing the security of the Neo X mainnet and providing assurance to developers and users.
The audit covered various aspects of Neo X, including its nodes, the native cross-chain bridge between Neo X and Neo, and the governance contracts of Neo X. The Neo X mainnet officially launched in July 2024, and over 50 projects have already joined or are in discussions to join the ecosystem.#Neo #Blockchain #SecurityAudit #EVM #NeoX #CrossChain #OpenSource #Mainnet #Developers #Crypto
🚀 Worldcoin Distributes 5.3 Million WLD to Market Makers in a Week
#Worldcoin #WLD #marketmakers #cryptocurrency #blockchain #token_distribution #Odaily
According to Odaily, blockchain analyst Yujin has reported that Worldcoin's multi-signature wallet (0xE79...1a3) distributed 5.3 million WLD tokens (worth $12 million) to five market makers over the past week. Since April 29, this wallet has been consistently distributing WLD tokens to market makers. Over the past six months, a total of 44.9 million WLD tokens (valued at $103.27 million) have been distributed to five market makers: Wintermute, GSR, Flow Traders, Auros Global, and Amber. These WLD tokens originate from the Worldcoin Foundation's cold wallet.#Worldcoin #WLD #marketmakers #cryptocurrency #blockchain #token_distribution #Odaily
🚀 BitVM Alliance Formed to Develop First BitVM Bridge by Year-End
#BitVM #BitVMAlliance #ZKP #Fiamma #Zerosync #ElementLabs #Citrea #Strata #Blockchain #Crypto
According to Foresight News, the on-chain ZKP verification infrastructure based on BitVM2 and the Babylon ecosystem infrastructure project Fiamma have joined the BitVM Alliance. This alliance, organized by BitVM founder and core developer Robin Linus, was internally established a month ago. The alliance includes five teams: Fiamma, Zerosync, Element Labs, Citrea, and Strata (incubated by Alpen Labs). These teams are all core contributors to the BitVM code. The primary goal of the alliance is to develop the first BitVM bridge by the end of the year.#BitVM #BitVMAlliance #ZKP #Fiamma #Zerosync #ElementLabs #Citrea #Strata #Blockchain #Crypto
👍1
🚀 Bitcoin(BTC) Drops Below 67,000 USDT with a 0.68% Decrease in 24 Hours
#Bitcoin #BTC #USDT #cryptocurrency #marketdata #trading
On Oct 23, 2024, 03:20 AM(UTC). According to Binance Market Data, Bitcoin has dropped below 67,000 USDT and is now trading at 66,984.007813 USDT, with a narrowed 0.68% decrease in 24 hours.#Bitcoin #BTC #USDT #cryptocurrency #marketdata #trading
🚀 US Lawmakers Push for Cryptocurrency Legislation by Year-End
#Cryptocurrency #Legislation #USLawmakers #Bipartisan #DigitalAssets #FIT21 #Stablecoin #WashingtonFintechWeek #MarketStructure #RegulatoryFramework
According to Odaily, an increasing number of bipartisan U.S. lawmakers are expressing hope that Congress will pass significant cryptocurrency-related legislation by the end of the year. Both Democrats and Republicans in the House and Senate are optimistic that the so-called 'lame-duck' session—from the November presidential election until the dissolution of the 118th Congress at the end of the year—can be utilized to finally legalize many areas of the cryptocurrency industry.
New York Senator Kirsten Gillibrand, speaking at Washington Fintech Week, stated, 'I think it would be great if we could complete a market structure bill during the lame-duck session.' She referred to bills like FIT21, which would create a federal framework for regulating digital assets. Gillibrand elaborated that with several pro-cryptocurrency lawmakers retiring from Congress over the Christmas period, including House Financial Services Committee Chairman Patrick McHenry and Senator Debbie Stabenow, there might be enough collective willpower in December to finally push through some cryptocurrency legislation.
'I know Chairman McHenry is leaving, and this is his top priority,' Gillibrand said. 'I hope he can work with me and Senator Cynthia Lummis, along with senior members of the House Financial Services Committee like Maxine Waters, to propose some market structure or stablecoin recommendations before this Congress ends. That would be very powerful.'
On Tuesday, House Financial Services Committee Vice Chairman, Representative French Hill, echoed similar sentiments during his speech at Washington Fintech Week. He agreed that multiple cryptocurrency legislations are likely to become law before the new year, stating, 'I remain optimistic that the regulatory framework bill FIT21 and the stablecoin bill might be considered during the lame-duck session.'#Cryptocurrency #Legislation #USLawmakers #Bipartisan #DigitalAssets #FIT21 #Stablecoin #WashingtonFintechWeek #MarketStructure #RegulatoryFramework
🚀 BNB Drops Below 590 USDT with a 1.54% Decrease in 24 Hours
#BNB #USDT #cryptocurrency #Binance #marketdata #trading #priceupdate #decrease
On Oct 23, 2024, 03:30 AM(UTC). According to Binance Market Data, BNB has dropped below 590 USDT and is now trading at 589.599976 USDT, with a narrowed 1.54% decrease in 24 hours.#BNB #USDT #cryptocurrency #Binance #marketdata #trading #priceupdate #decrease
🚀 Amber Group Receives 2000 ETH From Unknown Address
#AmberGroup #ETH #iChainfo #cryptocurrency #blockchain #unknownaddress
According to Odaily, monitoring by iChainfo has revealed that Amber Group (0xba29…f59c) received 2000 ETH, approximately valued at $5.23 million, from an unknown address (0x7746…3224).#AmberGroup #ETH #iChainfo #cryptocurrency #blockchain #unknownaddress
🚀 Opti Games Secures $2 Million Funding For Sparkball Development
#OptiGames #Sparkball #funding #investment #L1D #CMSHoldings #ImpossibleFinance #YGG #Monad #gaming #sports #event
According to Foresight News, Opti Games, the studio behind the sports fighting game Sparkball, has announced the completion of a $2 million funding round. The investment was led by L1D, with participation from CMS Holdings, Impossible Finance, YGG, Monad CEO Keone Hon, and his angel investment group Purple. Sparkball is planned to be built on the Monad chain. Opti Games is set to launch the Sparkball Season Zero event soon.#OptiGames #Sparkball #funding #investment #L1D #CMSHoldings #ImpossibleFinance #YGG #Monad #gaming #sports #event
🚀 US Spot Ethereum ETF Sees Significant Inflow
#Ethereum #ETF #BlackRock #inflow #investment
According to BlockBeats, on October 23, Farside monitoring reported a net inflow of $11.9 million into the US spot Ethereum ETF. Notably, all of this inflow was attributed to BlackRock's ETHA, which saw an influx of $11.9 million.#Ethereum #ETF #BlackRock #inflow #investment
🚀 Anthropic Unveils Claude 3.5 Sonnet With Advanced Computer Usage Feature
#Anthropic #Claude3.5 #AI #ArtificialIntelligence #Technology #ComputerUsage #PublicTesting #ScreenInteraction #MouseOperations #TextInput #Coding #Efficiency
According to PANews, artificial intelligence company Anthropic has announced the release of an upgraded version of its AI, Claude 3.5 Sonnet. This new version introduces a groundbreaking 'computer usage' feature, enabling the AI to operate a computer like a human and perform complex tasks. Currently in the public testing phase, this technology supports task execution through screen interaction, mouse operations, and text input.
In addition to Claude 3.5 Sonnet, Anthropic has also introduced a new model named Claude 3.5 Haiku. This model is designed to handle code tasks with greater speed and cost-efficiency. The release of Claude 3.5 Haiku is scheduled for the end of this month.#Anthropic #Claude3.5 #AI #ArtificialIntelligence #Technology #ComputerUsage #PublicTesting #ScreenInteraction #MouseOperations #TextInput #Coding #Efficiency
🚀 European Central Bank Discusses Potential Rate Cuts Below Neutral Level
#EuropeanCentralBank #RateCuts #InterestRates #EasingCycle #MonetaryPolicy
According to Odaily, sources have revealed that policymakers at the European Central Bank have initiated discussions on whether interest rates should be reduced below the neutral level during the current easing cycle.#EuropeanCentralBank #RateCuts #InterestRates #EasingCycle #MonetaryPolicy
🚀 Blackstone CEO Predicts U.S. Economic Stability Post-Election
#Blackstone #StephenSchwarzman #USEconomy #EconomicStability #PresidentialElection #InterestRates #EconomicGrowth #Investment #GlobalTransactions
According to Odaily, Blackstone Group Chairman and CEO Stephen Schwarzman stated in an interview in Tokyo on Wednesday that the United States is likely to avoid an economic recession regardless of the outcome of the presidential election. Schwarzman emphasized that both candidates have policies aimed at stimulating economic growth.
Schwarzman noted that with U.S. interest rates potentially continuing to decline, the environment for transactions and investment exits is improving. He remarked, 'It is essentially a matter of interest rates and economic growth. Interest rates will continue to fall, which will drive more buying and selling transactions.'
He also mentioned that transactions in Japan, India, and Australia are expected to remain active. Despite Europe's economic growth being potentially the lowest among developed countries, Schwarzman believes this could still present opportunities.#Blackstone #StephenSchwarzman #USEconomy #EconomicStability #PresidentialElection #InterestRates #EconomicGrowth #Investment #GlobalTransactions
🚀 Vitalik Buterin Discusses Future Digital Society On ETHPanda Talk
#VitalikButerin #ETHPandaTalk #DigitalSociety #Ethereum #FutureTechnology #Innovation #Podcasts #Humanity #LongevityTechnology
According to PANews, Ethereum founder Vitalik Buterin recently appeared on ETHPanda Talk to discuss the potential digital society 100 years from now. Over the past decade, Ethereum has established a robust infrastructure, and the next ten years will focus on exploring more applications based on Ethereum to benefit humanity.
The decision to envision a society 100 years into the future aims to break free from current constraints and imagine an ideal digital future. This timeframe is considered manageable, given the rapid advancements in longevity technology, allowing many to witness this transformation firsthand.
The video is a repost from ETHPanda Talk, a podcast series that interviews prominent Ethereum builders, sharing their stories, ideas, and thoughts to inspire further development.#VitalikButerin #ETHPandaTalk #DigitalSociety #Ethereum #FutureTechnology #Innovation #Podcasts #Humanity #LongevityTechnology
🚀 Andre Cronje Reveals Blockchain Operation Costs for Sonic Labs
#AndreCronje #SonicLabs #Blockchain #OperationCosts #Fantom #CryptoExpenses #Oracles #Stablecoins #RPC #Indexing #Dashboards #VRF #Governance #RiskManagement #LegalFees #Compliance #Infrastructure #Marketing #Bounties #Sponsorships #Media #RegulatoryCosts #EventCosts #CryptoFinance
According to Foresight News, Andre Cronje, co-founder of Sonic Labs (formerly Fantom), has disclosed the real costs associated with running a blockchain, even if only partially successful. Cronje detailed that the initial costs for oracles and stablecoins amount to $7.5 million, with annual costs of $3.5 million. Additionally, the initial costs for RPC, indexing, and dashboards are $200,000, with yearly expenses of $70,000. Other annual costs include $50,000 for VRF, keepers, wallet support, and governance, and $80,000 for explorers, custody, and risk management, totaling $13.2 million. These figures apply specifically to Sonic Labs.
Cronje also provided a breakdown of Sonic Labs' expenses from the previous year. Research and development costs were $10.9 million, while the ecosystem expenses reached $10.7 million. Legal fees amounted to $410,000, and compliance costs were $3.8 million. Infrastructure expenses were $2.4 million, marketing costs were $1.4 million, bounties were $1.2 million, sponsorships were $400,000, media expenses were $350,000, regulatory costs were $200,000, and event costs were $100,000. The total costs for the year amounted to $35.6 million. Cronje noted that these figures do not include the costs associated with listing on exchanges, which they fortunately do not need to do this year.#AndreCronje #SonicLabs #Blockchain #OperationCosts #Fantom #CryptoExpenses #Oracles #Stablecoins #RPC #Indexing #Dashboards #VRF #Governance #RiskManagement #LegalFees #Compliance #Infrastructure #Marketing #Bounties #Sponsorships #Media #RegulatoryCosts #EventCosts #CryptoFinance
🚀 Japan's Conservative Stance on Cryptocurrency ETFs Highlights Regulatory Hesitation
#Japan #Cryptocurrency #ETFs #Regulation #DigitalAssets #TaxPolicy #Investment #AssetManagement #MarketDistinction
According to BlockBeats, the approval of spot cryptocurrency ETFs in the United States, Hong Kong, and other markets has highlighted Japan's conservative and distinct regulatory approach. Japan has long positioned itself as a digital asset-friendly nation, aiming to become a larger asset management hub. However, at the policy level, Japan remains hesitant to relax restrictions, remove tax and regulatory barriers, and promote widespread adoption of cryptocurrencies. Despite some Japanese companies preparing to launch digital asset products, tax and regulatory constraints remain significant obstacles.
In Japan, general cryptocurrency investment gains are classified as miscellaneous income, with a maximum tax rate of 55%. However, ETFs traded on the securities market are considered capital gains, subject to a lower tax rate of approximately 20%, making it a more attractive option for investors seeking portfolio diversification through digital assets. Spot cryptocurrency ETFs would also benefit from tax advantages such as loss carryforwards. However, according to Keisuke Kimura, Vice President of the Japan Crypto Asset Business Association and former financial advisor at SMBC Nikko Securities, significant changes are needed for regulators to take action and introduce these potential tax benefits.#Japan #Cryptocurrency #ETFs #Regulation #DigitalAssets #TaxPolicy #Investment #AssetManagement #MarketDistinction
🚀 Web3 Platform Talent Protocol To Launch Talent Token On Base Chain
#Web3 #TalentProtocol #TALENTtoken #BaseChain #Basecoin #ReputationEcosystem
According to Odaily, Web3 platform Talent Protocol has announced that it will launch the TALENT token on the Base chain on October 29 at 20:00 UTC+8. TALENT is a Basecoin designed to create an open reputation ecosystem.#Web3 #TalentProtocol #TALENTtoken #BaseChain #Basecoin #ReputationEcosystem