roadrunner

PEGA Pool is an eco-friendly crypto mining pool currently in private beta testing and is expected to be open to the public in the first quarter of 2023. Regarding bitcoin mining, there have always been concerns about its environmental impact; however, now is the ideal time to make a difference and contribute to a greener future by helping create a more sustainable industry. As a means to offset CO2 emissions, a portion of the fees from the PEGA pool will be used to plant trees to offset the emissions. Those who sign up for the waiting list will receive a permanent 50% discount after launch. PEGA Pool to Help Miners Create a Greener Future To create a more eco-friendly industry, PEGA Pool is on a mission to reduce the carbon footprint of bitcoin mining so that it can be more sustainable. With PEGA Pool‘s robust Global Pool infrastructure, the team can handle equipment failures and outages with great confidence because the infrastructure is highly resilient. By strategically placing infrastructure in critical regions worldwide, the team has been able to mitigate the risk of traditional equipment outages and those caused by natural disasters, thereby ensuring solid up-time and availability for people who need mining services. The same core regions are also responsible for ensuring low-latency connections. It allows miners to meet deadlines promptly and experience a lower job rejection rate while increasing their profit margins regardless of location. PEGA Pool offers a competitive revenue model, a 50% reduction in pool fees for members using renewable energy sources. In addition, PEGA Pool will continue to accept clients who use non-renewable sources of energy, and PEGA Pool will use a portion of its pool fees to help offset its mining carbon footprint by planting trees to promote the renewal of natural resources. BTC.com Explorer has already ranked PEGA Pool 12th in terms of the largest pools in the world. (https://explorer.btc.com/pools) As well as being a British-owned and operated company, PEGA Pool’s sister company in the United Kingdom – PEGA Mining – has been in business since 2020 already. It is dedicated to using green energy sources for all its operations. Join the Waiting List Right Now Sign up now to be one of the first to be able to join PEGA Pool on the day of launch by joining the waiting list. There is currently a private beta testing phase for PEGA Pool, and the service will be made available to the public in the first quarter of 2023. In addition, there will be a permanent 50% reduction in pool fees for all early-access clients. If someone is interested in participating in beta testing, don’t hesitate to get in touch with the team with as much information as possible regarding the setup. In the early phases of the beta test, beta testers are entitled to 0% pool fees, and a 0.5% pool fee will be applied after the beta test period. Those interested in learning more about the project can visit the website and also join the waiting list. This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

Ramp, a fiat-to-crypto company, has announced it has raised $70 million as part of its Series B funding round. The round was co-led by Mubadala Capital and Korelya Capital, with Balderton Capital and Cogito Capital participation. The company explained that these funds would allow it to improve its app further and keep hiring talent. Ramp Raises $70 Million in Series B Funding Round Ramp, a company that specializes in providing fiat to crypto and crypto to fiat flows for different Web3 applications, announced it had raised $70 million in its latest funding round on Nov. 9. The funding round, which was co-led by Mubadala Capital and Korelya Capital, with participation from Balderton Capital and Cogito Capital, will allow the company to keep growing even with the current conditions of the market. According to a press release, these funds will facilitate the operation of the company in the future, giving it the possibility to “invest further into our product line, add local fiat currencies and payment methods, expand into new territories, and continue to hire the best talent in the market.” This round takes the number of funds raised by the company in the last 12 months to more than $120 million. With this capital injection, two new executives will also join the company’s board: Mubadala Capital’s Frederic Lardieg is now a director, and Paul Degueuse, partner at Korelya Capital, as an observer. Accelerated Growth While other companies in the crypto market have faced significant difficulties during the crypto winter, Ramp says it has managed to thrive even during these adverse conditions. This is related to the nature of its business model, which aims to facilitate users on and off-ramping from wallet apps and Web3 applications, letting users purchase crypto in an easy way using, for example, bank account deposits. The company also allows for Google Pay, Apple Pay, Visa, and Mastercard integrations, depending on the country. In fact, the number of employees in the company has grown sevenfold this year, and the transaction volumes have also grown 240% when compared to the same period in 2021. In the same way, the total unique number of users coming from customers that implement Ramp’s services as part of their apps also increased by 600%. On the future of the company and its objectives, Szymon Sypniewicz, co-founder and CEO at Ramp, stated: Our goal is to keep building infrastructure to make Web3 easy and accessible. Despite current market conditions, we see a growing trend of web2 companies looking to move into Web3, and we’re uniquely positioned to help them through this transformation. That’s why we’re doubling down on growth. Sypniewicz also stated that a bear market was suitable for building and that Ramp was fully committed to its vision in the future. What do you think about Ramp’s $70 million Series B funding round? Tell us in the comments section below. View the full article

A report shows Ukrainian Cyberpolice identified members of a group that defrauded people around the world through fake crypto investment offers. The criminal organization maintained offices and customer service centers with thousands of employees in a number of European countries. Cyberpolice Department Busts Ukrainian Arm of International Financial Fraud Scheme The cybercrime combatting unit of the National Police of Ukraine (NPU) has exposed five Ukrainian citizens accused of participating in a large-scale international scheme that lured victims with promises of high profits from fake investments in cryptocurrencies and securities. The entity behind the criminal undertaking had established representative offices and call centers across Europe, Ukrainian police officials revealed. The estimated annual losses resulting from its activities exceeded €200 million ($207 million), a press release detailed. The operation was carried out together with the NPU’s Main Investigative Department, the Prosecutor General’s Office of Ukraine and assisted by Europol, the European Union Agency for Law Enforcement Cooperation, and Eurojust, which is the EU’s body for judicial cooperation. Law enforcement authorities from Albania, Finland, Georgia, Germany, Latvia, and Spain also helped the investigation against the organization which launched in Ukraine in 2020. Seven countries have initiated court proceedings in relation to the case, the Cyberpolice said. Thousands of Investors Defrauded Globally, Investigators Say The customer service centers set up by the criminal group operated in several European countries and had more than 2,000 employees. Their main task was to convince investors they could make high profits by investing in cryptocurrency and trading stocks, bonds and options. Hundreds of thousands of people around the world have been affected by the illegal activities of the transnational group, according to Europol. The scheme simulated asset growth on its platforms but investors were never able to cash out their earnings. Three of the call centers, for which the five Ukrainians were responsible, were based in the capital Kyiv and the western Ukrainian city of Ivano-Frankivsk. If convicted, the organizers can receive up to eight years in prison under Ukrainian law. The existence of the network was first exposed in August. Law enforcement officers have searched the homes of the Ukrainian suspects as well as the places of residence of other members of the group in other countries. Over 500 computers and mobile phones have been seized during the searches, the Cyberpolice department added. Do you think the Ukraine Cyberpolice will identify more Ukrainian citizens involved in the international fraud scheme? Tell us in the comments section below. View the full article

Manhattan District Attorney (DA)’s Office has frozen more than $1.3 million in cryptocurrency “during fraud investigations conducted over the past ten months.” The authority said: “We are returning that money to the victims of these schemes — while raising awareness to prevent future fraud.” $1.3 Million in Cryptocurrency Frozen Manhattan District Attorney (DA) Alvin Bragg announced Thursday that his office has “frozen more than $1.3 million in cryptocurrency during fraud investigations conducted over the past ten months.” Bragg detailed, “Using our blockchain analysis expertise, our investigators, prosecutors, and specialized cryptocurrency analysts were able to locate and freeze more than $1.3 million of stolen cryptocurrency in the past 10 months alone,” elaborating: While many of these cyberthieves are overseas and currently out of our reach, the cryptocurrency they stole is not. We are returning that money to the victims of these schemes — while raising awareness to prevent future fraud. The announcement adds that cryptocurrency worth $200,000 was seized and is now held in the DA’s accounts. The Manhattan District Attorney’s Office explained that crypto scams involving romance, bitcoin ATMs, imposters, remote desktop downloads, and fake account balance screenshots have become increasingly popular. A trending scam involving cryptocurrency that has duped many investors worldwide is called “pig butchering.” In recent months, several U.S. authorities have warned about the rising popularity of this type of scam. What do you think about the Manhattan DA’s Office freezing cryptocurrency with a plan to return funds to fraud victims? Let us know in the comments section below. View the full article

When it was first discovered that FTX might be insolvent, a large slew of crypto exchange executives said that they aimed to provide proof-of-reserves audits. While exchanges like Binance and Crypto.com have provided wallet addresses tied to company wallets, blockchain analytics firm Nansen has detailed the company is in the midst of creating a display of crypto exchange proof-of-reserves. Proof-of-Reserves Concept Pushes Proof-of-Solvency to the Forefront of Crypto Conversations Three days ago, amid the chaos surrounding FTX, a group of crypto exchange executives detailed that they planned to provide proof-of-reserves via a Merkle tree and full audits. Following the discussions, Binance disclosed the company’s hot and cold wallet addresses and Crypto.com’s CEO Kris Marszalek shared his firm’s addresses. The blockchain analytics firm Nansen has gotten involved and the company is building a proof-of-reserves dashboard to display exchange reserves. “We are working with exchanges to display proof-of-reserves on [Nansen] for everyone to track their token holdings and transactions,” Nansen detailed on Nov. 11. Nansen shared a current list of exchange portfolios and said that it would update the thread when more exchanges joined. So far, the thread includes exchanges such as Binance, Crypto.com, Okx, Kucoin, and Deribit. Bitfinex CTO Paolo Ardoino has also shared Bitfinex’s reserve list as well, alongside a Github repo that hosts the trading platform’s addresses. “Bitfinex also developed in the past an open-source library called Antani,” Ardoino added. “Proof of Solvency, Custody and Off-chain Delegated Proof of Vote. We plan to revive it and have a way for users to cryptographically verify their balances respecting their privacy.” In addition to Crypto.com, Okx, Kucoin, Binance, Bitfinex, and Deribit, the crypto exchange Bybit promises to release proof-of-reserves. Cake Defi has also provided a compiled list of reserves as well. Reports further note that Huobi and Poloniex have plans to share proof-of-reserves. Exchanges listed on Nic Carter’s proof-of-reserves list or “Wall of Fame,” include Kraken, Bitmex, Nexo, Coinfloor, HBTC, Gate.io, and Ledn. Coinfloor, HBTC, Gate.io, and Ledn’s reserve assessments are older than Kraken and Bitmex’s. Nic Carter’s proof-of-reserves list says Nexo provides daily attestations. What do you think about all the crypto exchanges providing proof-of-reserves lists and promising audits and attestations in the near future? Let us know your thoughts about this subject in the comments section below. View the full article

On Nov. 11, 2022, FTX Trading Ltd. filed a voluntary petition for Chapter 11 bankruptcy protection in Delaware. The news followed a few days of speculation and evidence that had shown the digital currency exchange was likely insolvent. The company’s bankruptcy filing and information concerning Sam Bankman-Fried’s (SBF) quantitative cryptocurrency trading firm Alameda Research shed some more light on the situation. Moreover, crypto proponents have questioned why U.S. regulators let FTX fly under the radar. Bankruptcy Filing Highlights FTX’s and Alameda’s Long List of ‘Portfolio Companies’ This past Friday, the general public and even FTX employees kept in the dark, were informed that FTX Trading Ltd. filed for Chapter 11 bankruptcy in the United States. The filing explains that it has more than 100,000 creditors and the firm’s estimated liabilities equate to $10 billion to $50 billion. The bankruptcy filing is signed by FTX’s new CEO ​​John J. Ray III, an individual that worked on Enron’s bankruptcy proceedings. The bankruptcy filing includes FTX Trading Ltd. and 134 affiliates of the debtor including Alameda Research, Atlantis Technology, Bitpesa, Blockfolio, Cedar Bay, DAAG Trading, Global Compass Dynamics, Hawaii Digital Assets, GG Trading Terminal, Ledger Holdings Inc., Liquid Financial, Western Concord Enterprises, FTX US Derivatives, FTX US Services, and FTX US Trading. The filing is authorized and signed by former FTX CEO Samuel Benjamin Bankman-Fried, otherwise known as SBF. Alameda Called a ‘Financial Control Feedback Loop,’ Crypto Trading Reportedly Non-Existent While the filing was registered on Nov. 11, SBF’s signature on the filing was dated Nov. 10, 2022. Out of the 134 affiliates, 11 share the Alameda name with Sam Bankman-Fried’s (SBF) quantitative cryptocurrency trading firm called Alameda Research. While Alameda claims to be a quantitative crypto trading company, it has been said that Alameda did nothing of the sort. “Sam Bankman-Fried’s Alameda Research didn’t trade crypto so far as we can tell,” the investigative journalist and Twitter account @lordnefty wrote. “What did they do then? They ‘invested’ $8B across 448 venture-stage startups, most of which have ‘1-10’ employees and zero documentation. It only gets more crazy when you dig in to each and every one of the companies.” The journalist added: A financial control feedback loop that ultimately ends with the all the money going to Sam Bankman-Fried controlled companies, companies with no owner or financial data, splash-page websites, etc. While some claim Alameda didn’t really trade digital assets, it has also been said that Bankman-Fried and Alameda leveraged arbitrage schemes trading up to $25 million a day. The web portal crunchbase.com highlights the great number of portfolio companies associated with Alameda. Furthermore, on Nov. 2, 2022, Coindesk reporter Ian Allison published a story on Alameda’s balance sheet, which noted that the company held a massive amount of ftx (FTT) tokens in comparison to other assets held by the firm. The report says Alameda’s CEO Caroline Ellison declined to comment. Alameda Research’s day-to-day affairs were run by Ellison, Nate Parke, Charlie Tsang, Christian Drappi, Aditya Baradwaj, Oliver Hamilton, and Sam Trabucco as an advisor. Ellison’s father is an MIT faculty member and an expert in economics, game theory, and technology adoption. Following Coindesk’s Alameda balance sheet report, Binance CEO Changpeng Zhao (CZ) said his exchange would be dumping its FTT tokens. Prior to CZ’s statements, on Oct. 31, 2022, Dirty Bubble Media (DBM) published a post that showed Alameda happened to be one of Celsius’ largest unsecured creditors and the crypto lender owes Alameda $12.8 million. The DBM report further highlights Celsius had another large unsecured creditor called “Pharos Fund SP.” “This fund was, as far as we have found, not publicly known prior to the Celsius filing. It is managed by a firm called Lantern Ventures, which also has largely flown under the radar during its existence,” the DBM report explains. “According to a Bloomberg report, Lantern’s CEO, Tara Mac Auley, has claimed that she was a co-founder of Alameda Research. Mac Auley was also the CEO of a charity called the ‘Center For Effective Altruism.’ Sam Bankman-Fried is a member of that charity’s affiliate organization, ‘Giving What You Can.’” LBRY Team Questions SEC’s Enforcement Motives, Crypto Community Members Think SBF Was a ‘Patsy’ Due to Extensive Political Connections The issues associated with FTX and Alameda have caused a number of cryptocurrency proponents to ask why regulators like the U.S. Securities and Exchange Commission (SEC) did not catch FTX before it collapsed. Congressman Tom Emmer tweeted about allegations concerning the SEC chairman helping FTX obtain a regulatory monopoly. The LBRY Twitter account, operated by the blockchain project that lost a court case with the SEC, discussed the regulator’s harsh enforcement against LBRY, compared to the treatment FTX had seen. “Increasingly looking like that while the SEC had a team of staff working to crush us, a tiny actor and one of the actual honest ones, FTX was stealing billions and [SEC chairman Gary Gensler] was taking the time to personally meet with them,” LBRY wrote. Bankman-Fried’s effective altruism background, the million-dollar donations to Democratic super PACs and U.S. president Joe Biden, his reported meeting with SEC chairman Gary Gensler, and other connections have caused people to believe SBF was a political “patsy” meant to roughshod crypto regulations into the industry. What do you think about FTX’s Chapter 11 bankruptcy filing and the company’s subsidiary Alameda Research? What do you think about all the speculation tied to FTX’s and Alameda’s political connections? Let us know what you think about this subject in the comments section below. View the full article

Dogecoin was one of the only crypto tokens to trade higher on Saturday, as comments from Elon Musk boosted prices. Speaking in a Twitter Spaces centered around the FTX collapse, Musk was heard saying: “Doge to the moon.” Solana on the other hand extended its declines, falling by over 15%. Dogecoin (DOGE) Dogecoin (DOGE) was one of today’s only gainers, as the token was boosted by comments from Tesla and Twitter CEO Elon Musk. Following a low of $0.0793 on Friday, DOGE/USD rose to a peak of $0.09399 earlier in today’s session. This surge saw the token climb by as much as 6%, breaking out of a key resistance level of $0.08900 in the process. Speaking in a Twitter Spaces conversation hosted by Mario Nawfal, Musk added, “I think so, don’t bet the farm on DOGE, but I’m working hard on the DOGE.” As can be seen from the chart, today’s spike has helped push the relative strength index (RSI) of 14 days above a key ceiling of 49.30. Currently, the index is tracking at 50.87, with the next visible point of resistance at the 53.00 mark. Solana (SOL) Solana (SOL) on the other hand was trading significantly lower, as prices of the token dropped for a second straight session. After climbing to a high of $18.68 earlier in Friday’s session, SOL/USD sank to a bottom of $14.92 to start the weekend. Overall, solana is now trading by nearly 60% lower in the past seven days, with some expecting further upcoming declines. Looking at the chart, the downward trend caused by a crossover between the 10-day (red), and 25-day (blue) moving averages has extended. In addition to this, the RSI is tracking at a level of 34.67, with a floor of 33.55 a likely target for bears. However, should momentum take price strength below this point, many will likely expect SOL to fall towards a weaker floor of 23.30 on the index. Register your email here to get weekly price analysis updates sent to your inbox: Can solana survive the downfall of FTX? Let us know your thoughts in the comments. View the full article

In a week of turbulence, cryptocurrencies maintain this sentiment into the weekend, with both bitcoin and ethereum moving lower. Bitcoin once again slipped below $17,000 on Saturday, as it was reported that a hack on FTX had taken place. Ethereum also moved lower today, as the token remained below $1,300. Bitcoin Bitcoin (BTC) was back below $17,000 to start the weekend, as markets reacted to the latest news surrounding FTX. It was reported that FTX had suffered a hack, which saw $600 million withdrawn from the collapsing platform. In a week which has been dominated with FTX related news, crypto somewhat responded to the headlines, with BTC falling into the red as a result. BTC/USD dropped to an intraday low of $16,543.48 on Saturday, less than 24 hours after residing at a high of $17,480.18. As can be seen from the chart above, the 14-day relative strength index (RSI) is currently tracking at 34.82, which is below a ceiling of 38.00. Bulls hoping to move back towards $18,000 will likely need to force a breakout from the aforementioned resistance point. Ethereum Ethereum (ETH) started the weekend below $1,300, with the token moving below a key support level. Following a high of $1,301.80 on Friday, ETH/USD slipped to a bottom of $1,211.33 earlier in today’s session. This drop in price saw the world’s second largest cryptocurrency fall below a floor of $1,225 on Saturday. Looking at the chart, the sell-off transpired as a downward crossover between the 10-day (red) and 25-day (blue) moving averages occurred. As a result of this cross, some believe that ETH could be on its way to $1,000, with the possibility of further drops below this point. Currently, the RSI is tracking at 40.82, with the next visible floor at the 38.15 point. Should price strength fail to hold at this level, the chances of the aforementioned plummet to $1,000 occurring will increase. Register your email here to get weekly price analysis updates sent to your inbox: Do you expect any further fallout from the FTX saga? Leave your thoughts in the comments below. View the full article

Admins of the Telegram group of the FTX community stated that the platform had been hacked and all of the funds of the exchange seemed to be gone. FTX U.S. General Counsel Ryne Miller, who reportedly pinned the message in the group, explained he was investigating “abnormalities” regarding FTX balances across other exchanges. FTX Officials Report Being Victim Of Hack On Telegram An admin of the now-closed Telegram group of the FTX community announced that the exchange was the victim of a hack attempt on Nov. 12. The message, which was pinned by FTX U.S. General Counsel Ryne Miller, informed of a hack in progress and recommended customers to stay away from using FTX apps, reporting that they could be compromised too. The admin, identified as Rey, wrote: FTX has been hacked. FTX apps are malware. Delete them. Chat is open. Don’t go on FTX site as it might download Trojans. Several users on social media have reported having their wallets in the exchange drained of their funds, and seeing swaps of their tokens by stablecoins like Dai onchain. Nansen’s Martin Lee observed “massive withdrawals to the same wallet,” something that the exchange had not informed about before. General Counsel Sees Abnormalities, Onchain Funds Blocked By Tether While FTX’s regular communication channels have been silent on the issue, Ryne Miller, FTX U.S. General Counsel, reported being looking at these transactions earlier in the evening. Miller tweeted: Investigating abnormalities with wallet movements related to consolidation of ftx balances across exchanges – unclear facts as other movements not clear. Will share more info as soon as we have it. Funds that have been withdrawn in the form of USDT in different chains have been blocked by Tether, according to reports. More than 30 million USDT were involved in this move. Miller also reported the exchange is now moving the remaining funds to cold wallets to preserve the remaining capital after an investigation of these “unauthorized transactions”. He stated: Following the Chapter 11 bankruptcy filings – FTX US and FTX [dot] com initiated precautionary steps to move all digital assets to cold storage. Process was expedited this evening – to mitigate damage upon observing unauthorized transactions. According to a report from Reuters, former FTX CEO Sam Bankman-Fried allegedly had a backdoor in FTX’s system. “In a subsequent examination, FTX legal and finance teams also learned that Mr Bankman-Fried implemented what the two people described as a ‘backdoor’ in FTX’s book-keeping system, which was built using bespoke software,” Reuters reported. The news outlet also spoke with Bankman-Fried via text and Reuters said Bankman-Fried denied any existence of a backdoor. The exchange had filed for Chapter 11 Bankruptcy protection on Nov. 11. The story is still in development as the movement of funds still continues at the time of writing. What do you think of the announcement of FTX’s Hack in its Telegram group? Tell us in the comments section below. View the full article

PRESS RELEASE. INTERNET CITY, DUBAI, Nov. 12th, 2022 – Global crypto exchange, LBank, has recently announced that it will share its Merkle-tree proof-of-reserves, in view of recent concerns about the opaque nature of certain industry issues. LBank gave a public statement on November 9th stating that the exchange hopes to facilitate industry transparency and built a strong foundation of trust between exchanges and investors. LBank stated in an announcement and Twitter post to their users that “We believe that it is crucial for tier-one cryptocurrency exchanges to publicly share their auditable Merkle tree proof of reserves or POF……This is an important step in building fundamental trust in the industry, and at the same time, it is also an important means to ensure the transparency of user assets.” LBank believes that taking this step will be crucial in helping investors regain trust in the market and hopes that more exchanges will take similar steps to help with this effort. Merkle trees are used to help users easily verify specific transactions. It can reassure investors that the crypto holding is using public blockchain information. Crypto exchanges can provide accurate proof of held balances and strengthen the trust of users. Since recent events, many have taken to this path to avoid unnecessary speculation. LBank believes that these measures will give users the transparency they need to get through recent turbulent times. “We can’t simply ask people to take our word for things, this change is a great thing that will give investors what they need and deserve. LBank values our relationship with our users more than anything. We hope this will tie us closer to our users and communities” an LBank representative stated. About LBank LBank is one of the top crypto exchanges, established in 2015. It offers specialized financial derivatives, expert asset management services, and safe crypto trading to its users. The platform holds over 7 million users from more than 210 regions across the world. LBank is a cutting-edge growing platform that ensures the integrity of users’ funds and aims to contribute to the global adoption of cryptocurrencies. Start Trading Now: lbank.com Community & Social Media: l Telegram l Twitter l Facebook l LinkedIn l Instagram l YouTube Contact Details: LBK Blockchain Co. Limited LBank Exchange marketing@lbank.info business@lbank.info This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

User experience (UX) design affects nearly every waking moment of our lives. It’s not just digital either. Have you ever thought about the UX of doors? Perhaps a brief refresher of what UX is, will help. A useful definition of UX is as follows: ”A person’s perception and responses that result from the use or anticipated use of a product, system or service” (from The International Organization for Standardization). The following opinion editorial was written by Bitcoin.com’s head of product experience Alex Knight. Back to doors. We’ve all experienced a door that didn’t open the way it should. That’s a UX failure right there (there’s a name for such doors, search for “Norman doors”). Thankfully Norman doors are rare, as are their computer software and web2 counterparts. Unfortunately, web3, still in its infancy, is rife with Norman doors. Until we fix most of these proverbial doors, web3 mass adoption is unlikely. In this article I’m going to discuss three areas web3 needs to work on. Caveats: this list is not comprehensive and since my area of focus is web3 wallets I’m going to talk about UX challenges through that lens. The three areas are: Security Education Ease of use Security That security is vital for software that handles financial instruments is obvious. Two of the bigger security challenges right now are: Handling cryptographic keys Unintelligible crypto transactions. I believe that self-custody is the most important concept in crypto. This is not to say everyone must use self-custody. However, that it always remains a viable option is critical. I direct you to Bitcoin.com’s CEO Dennis Jarvis’ article on the topic for a compelling defense of self-custody. So far, self-custody has meant users must manage cryptographic keys. An early UX advancement was using recovery phrases, sometimes called seed phrases, instead of handling cumbersome unintelligible cryptographic keys. While recovery phrases improved upon cryptographic keys, recovery phrases have proven to also be pretty complicated. There is a constant drip of stolen crypto due to people not fully grasping the importance of their recovery phrases, for example exposing or losing them. This leads to the second security problem: unintelligible crypto transactions. In most crypto scams, people willingly enter into transactions they don’t fully understand that send their cryptoassets away. Moving Away From Recovery Phrases Many people are working on the problem of recovery phrases. Vitalik Buterin advocates something called social recovery wallets that don’t require recovery phrases. This concept has a lot of promise, though I believe a lot more work needs to be done to make it usable for most people. Another tactic is to replace recovery phrases with something more familiar — passwords. Just as a recovery phrase (set of random words) is more familiar than a cryptographic key (string of hexadecimal characters), a password is more familiar than a recovery phrase. We offer automatic cloud backup services. Create a single custom password that decrypts a file stored in your Google Drive or Apple iCloud account. If you lose access to your device, you can reinstall the Wallet app on a new device, enter your password, and you’ll again have access to all of your cryptoassets. By creating a mix of encryption and cloud services tied with custodial services to help retrieve things, we can maintain a self-custody service while leveraging centralized technologies to lower the burden on the user. The ease-of-use of automatic cloud backup compared to manual backups through recovery phrases is easy to visualize: Human Readable Transactions Wallets need to get better at warning users of unintended outcomes of transactions. For example, a common approach is to get users to sign a ‘SetApprovalForAll’ transaction, which allows an adversary to transfer assets out of your wallet into theirs. Wallets should alert users when this kind of transaction comes up, describing the dangers clearly. Even better, wallets could present users with a more human-readable summary of potential asset changes transactions allow. For example, you might think you are swapping one asset for an appropriate amount of another, when in fact you are swapping all of your assets for nothing. The following helps visualize better what assets a potential transaction can change. Education There are two ways that most people first interact with blockchain technology: a centralized exchange and a self-custodial software wallet. The first time people interact with a blockchain “directly” will almost always be through the latter. Software wallets entail a large amount of responsibility and an even larger challenge in easing new users into the “deep end” of crypto – decentralized finance (DeFi). Education is a major component of this. It’s essential for providing the right opportunities for users to upskill and build towards full self-custody and safely move away from reliance on centralized support. People being more comfortable/safe with crypto will help increase adoption and utility as it becomes a more viable alternative to traditional finance. The abundance of technical jargon doesn’t help. As is common with most new technology, early adopters are usually extremely technical. Continuing Education Every action your wallet has should keep in mind a future action that you wish the user to take. For example, let’s assume that the first action a new user should take upon downloading the wallet is buying crypto with fiat. You don’t want to overwhelm new users with hundreds of choices. It’s probably prudent to only give new users a curated list to purchase, with an option of the fully expanded list. First actions, such as buy, should lead to a chain of in-app prompts/notifications/emails to try other actions like swap. Swapping is a big step from buying since every action in a DApp requires paying a transaction fee in the blockchain’s native token, something that has no analog in web2. Jargon Wallets are full of technical jargon that is non-descriptive to most people. A great example of this is “non-custodial wallets.” What does this mean? It has recently been adjusted to “self-custody” which is better, but still not perfect. Another is “multisig wallet.” Even knowing the full meaning, “multiple signature wallet,” will not tell already-knowledgeable people what it means. Even users who persist, digging deeper by reading full explanations, will probably have some difficulty understanding what it is and how to use it. At Bitcoin.com we use “shared wallets,” which we believe anyone can understand while not compromising the original meaning. Ease of Use This last category is not only one of the biggest issues we face, but is interwoven into the previous categories. As crypto matures, it must find a wider audience. The developer-driven process must make room for design. We are slowly starting to see a shift to more design-driven solutions, but there is a long way to go. Let’s look at a couple of examples, starting with mulitsig wallets. No new user will be able to guess the usefulness of these from that name. Worse still, even advanced crypto users don’t use them because of complicated interfaces. This is tragic, because, like Vitalik Buterin co-founder of Ethereum says, multisig is likely the safest way to store your cryptoassets. IMO fancy hardware stuff is all overrated and most people should just store the bulk of their coins in a multisig (>= 5 participants) where most of the keys are held by trusted family and friends. — vitalik.eth (@VitalikButerin) August 14, 2022 Shared Wallets First, “multisig” needs to be retired. Next, multisig options need to be stripped out for most users. Most people would abandon the process when met at a screen like this: Sharing the newly created wallet should be as seamless as possible, unlike this: The QR code is enough, extraneous info like the public key can be taken away: A “share” button makes it even easier for users. Human Readable Send Transactions Sending crypto, arguably the most basic action one can take, is still too difficult. There have been attempts like those made by ENS, Unstoppable Domains, and FIO to solve the problem but it’s still a bit of a mess, with different providers using similar domain names and then relying on the wallet to choose which one is correct and so on. We’ve taken a different, I’d argue easier, approach: shareable links. You don’t need to know the person’s crypto address or ENS. Instead, you send the recipient a link via any messaging app (email, Whatsapp, SMS, etc.). The recipient just has to click on the link and follow the instructions to receive the payment. Conclusion I have no doubt that web3 will change the world. The future is already taking shape, but suboptimal designs must be relentlessly chiseled away. I am proud of the design choices Bitcoin.com has made, but have no illusions that they are destined to be the best ones. Bitcoin.com is one of many companies making products that push web3 design forward. I can’t wait to see all of the design innovations that will have helped bring our industry to mass adoption. What are your thoughts on this story? Be sure to let us know in the comments section below. View the full article

Bitso, one of the largest cryptocurrency exchanges in Latam, has launched a QR payments program geared towards travelers in Argentina. The service proposal seeks to ease the way in which travelers and tourists make payments in the country, using Bitso’s interoperable QR payment technology to avoid unnecessary and often confusing cash exchange transactions in the region, where there are multiple dollar exchange rates. Bitso Launches QR Payment Service for Travelers Bitso, one of the leading cryptocurrency exchanges in Latam, has launched a QR-based payments service that aims to allow travelers to pay with cryptocurrencies in Argentina. The service seeks to make the lives of tourists arriving in the country easier, by allowing them to pay for services and goods with cryptocurrencies at all merchants using the popular QR payments method. Bitso’s objective is to serve as an integral payment service, avoiding the hassle of exchanging foreign currency for cash in a country like Argentina where there are more than 14 different dollar exchange rates. About this development, Santiago Alvarado, SVP of product at Bitso, stated: Most restaurants, supermarkets, and shops accept QR payments. By offering this product to foreigners visiting Argentina, we are helping them make the most of their money and time by avoiding exchanging cash for local currency and letting them make contactless crypto payments in seconds right from their phones. The service will receive stablecoins, bitcoin, and ether, and will make instant exchanges at the time of payment, with the counterparty receiving Argentine pesos. Bitso aims to capture some of the growing streams of tourists that are traveling to the country after the Covid-19 quarantine season has ended. According to the company, Latam’s tourism industry is experiencing a resurgence, with searches for places to travel in the area growing by 113%. QR Payment Growth Bitso is able to offer this functionality due to the implementation of QR payments that the company announced in September, giving users the capability to pay in an immense number of stores and merchants that are already using this new form of payment. The company included this function to allow customers that had been using the platform as a savings tool to pay with their cryptocurrencies, avoiding external cash exchanges. QR payments have also been growing steadily in the country, reaching a record number of more than three million payments made using this tool in September. What do you think about Bitso’s QR payments program for tourists in Argentina? Tell us in the comments section below. View the full article

The European Commission is preparing to discuss with member states the adoption of a common tax regime for crypto assets, European officials have indicated. The talks with national treasuries are expected to start next year with the aim to end the differentiated tax treatment of cryptocurrencies across the bloc’s 27 jurisdictions. European Union to Consider Single Tax Regime for Crypto Income and Profits The executive body in Brussels, the European Commission, intends to soon launch talks with the financial ministries of the member states on whether establishing a Union-wide tax regime for crypto is warranted, a report by Politico revealed Thursday, quoting three EU officials. The discussions are set to begin in 2023, the sources told the publication. Their focus will be on sharing best practices as currently cryptocurrency wealth is subject to different taxes in each country. Commenting on the initiative, a spokesperson for the Commission elaborated: Difficulties in classifying, valuing and administering crypto assets pose challenges to tax administrations seeking to tax them fairly and effectively. Before implementing a single tax regime, however, the European Union needs to introduce new requirements for crypto companies to collect details of digital asset owners, both individuals and businesses, and share them with tax authorities across the EU, the report remarks. This would allow tax administrations to have a clear idea about crypto holdings. The European Commission is expected to propose such regulations in December or January but it is likely to start enforcing them in 2026, which will allow it to impose the crypto tax the following year. European institutions have been working on a comprehensive legislative framework for cryptocurrencies called Markets in Crypto Assets (MiCA) which was agreed upon this summer. Media reports attributed a delay in its adoption to the need to translate the complex legal document into all official languages of the EU. MiCA should come into force in 2024. At present, member states employ different rules to tax income and capital gains from crypto, with rates ranging between zero and 33%, Politico notes. Authorities in some European countries are revising policies in advance of a possible decision at the EU level. Portugal, for example, which was not taxing gains from crypto trading, unless they are part of a business activity, now intends to impose a levy on profits from short-term crypto investments starting from 2023. Traders who cash out any crypto gains made under a year will face a tax of 28%, according to the budget for next year. Do you think the EU will eventually introduce a single tax regime for crypto assets? Share your expectations in the comments section below. View the full article

PRESS RELEASE. FIFA has unveiled a portfolio of new future-focussed web 3.0 games to entertain and engage a wider group of fans ahead of FIFA World Cup Qatar 2022. Gaming and esports are some of the fastest-growing opportunities for FIFA as it continues to expand into new digital spaces, platforms and games that are already welcoming football fans on to them. With the communities growing organically, FIFA is expanding into new digital spaces – having earlier this year launched a landmark Roblox experience. The new gaming integrations, all of which are designed with web 3.0 and the future of digital engagement in mind, are playable around the tournament and each have a unique twist on the globe’s biggest football tournament. Among them are: Altered State Machine – AI League: FIFA World Cup Qatar 2022 Edition AI League is a 4-on-4 casual football game, played between AI-controlled characters, with player input at fun and tactical moments. Players act as the coach and owner of their AI teams and can improve their abilities through power-ups and training. Players can also collect and trade characters to create a team with their favourite talent combinations. The playing fields are set in stylized streetball locations around the world, from Paris to Rio, Yaoundé to Seoul. Uplandme – FIFA World Cup Qatar 2022 in the Upland Metaverse Upland is the largest blockchain-based metaverse mapped to the real world, where players can buy and sell virtual properties. Now they can collect official FIFA World Cup digital assets, including legendary video highlights of the tournament. They can travel to the replica FIFA World Cup Lusail Stadium and Village, shop for items representing their colours to customize their home in Upland, trade their assets with friends, and win one of many prizes. Matchday – Matchday Challenge: FIFA World Cup Qatar 2022 Edition Matchday targets the emotional high of football fandom through a highly engaging casual social prediction game based on football cards, where the essence of the fun is derived not just from “getting it right” but by being the best among your friends. Phygtl – FIFA World Cup Qatar 2022 on Phygtl Phygtl, a fan engagement mobile application that takes fandom into a new dimension. An immersive experience fans join forces on with the mission to co-create the global first fan generate digital reward. Fans can augment a golden-globe-football from the palm of their hands into their real-life environment, own a limited fragment of it to attach and eternalize their handpicked FIFA World Cup pictures and video moments. A digital representation of eternal fandom. FIFA Chief Business Officer, Romy Gai, said: “This is a hugely exciting group of partnerships that we’ve entered into as we embrace a new, digitally-native football fan and engage with them in the spaces that we know they are already active within. “As we continue to build our gaming strategy long into future, it’s certain that web 3.0 will have an important role to play, and this marks the start of our journey.” All of the gaming opportunities complement with the newly launched FIFA+ Playzone and FIFA+ Collect, and more launches are planned in the future. This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

Economic Daily, an economic newspaper run by the Chinese state, has published an article noting problems with investing in the metaverse. The article says that metaverse investments might not be suitable for all regions of the country, comparing the trend to the explosion of new green energies not long ago. Economic Daily Warns of Metaverse Euphoria While the metaverse has become a hot topic after the Covid-19 pandemic, some have been criticizing the euphoria surrounding it. Economic Daily, a state-run newspaper in China, has dedicated a whole article to warning Chinese citizens about putting significant amounts of funds into metaverse investments. The article, issued on Nov. 10, states: The metaverse industry sounds promising, but it may not fit every region. Be wary of feverishly following suit and betting big on it while detached from reality. The article explained that the current metaverse hype can be compared to the hype that new green energies saw not so long ago. At that time, many investments were dedicated to this area, creating a surplus of energy where it was not needed. China and Its Virtual World Initiatives The Chinese government has sent mixed signals when it comes to the metaverse and its development in mainland China. While some publications like the People’s Daily, the official newspaper of the Communist Party, have been critical of the sector, advising people to “stay rational in understanding the current metaverse mania,” at a local level, several cities have been active in presenting plans to integrate this virtual world in development processes. According to Economic Daily’s article, 30 local governments in China have come out in favor of supporting metaverse-related investments in their cities. However, the country is trying to steer in the direction of supporting these developments, but without including certain token-related elements. Wuhan, which had presented a virtual environments development program including NFTs, removed the non-fungible tokens in a new version of the document due to the stringent policies of the Chinese state on digital assets and cryptocurrencies. However, the Chinese government seems determined to advance its VR technology to build an immersive experience for its citizens. On Nov. 1, the government presented an ambitious plan that calls for the research of virtual reality (VR) and augmented reality (AR) elements to advance the creation of a metaverse platform that would be open to all citizens, among other applications of these technologies. What do you think about the warnings given by Chinese media against investing in digital world platforms? Tell us in the comments section below. View the full article

Just a few days after plummeting to its worst exchange rate against the U.S. dollar ever, the Nigerian currency was trading at around 820 units for every dollar on Nov. 8, a report has said. An economist has suggested that the Central Bank of Nigeria’s controversial currency plan is unlikely to halt the naira’s depreciation or tame inflation. EFCC’s Crackdown on Currency Dealers The Nigerian currency’s parallel market exchange rate versus the U.S. dollar rebounded from an all-time low — 900 units per dollar — seen at the start of the month to around 805:1 by Nov. 8. Some reports have attributed the naira’s recovery to the Economic and Financial Crimes Commission (EFCC)’s crackdown against suspected illegal foreign currency dealers. As reported by Bitcoin.com News on Nov. 5, the naira’s latest quick-fire depreciation was prompted by the Central Bank of Nigeria (CBN)’s new 100, 200, 500, and 1,000 banknotes announcement. While the central bank’s plan to replace old banknotes with redesigned banknotes has won the backing of President Muhammadu Buhari, some Nigerian experts, as well as the International Monetary Fund (IMF), have warned of the possible consequences of implementing the plan. Exacerbating the Naira’s Woes Yet, despite the mounting criticism and warnings, the CBN has stuck to its guns and will reportedly start issuing the new banknotes on Dec. 15 as planned. The central bank has said all the banknotes that are set to be demonetized must be returned on or before Jan. 31, 2023. However, according to one Nigerian economist, Bismarck Rewane, for the CBN’s plan to succeed, Nigerian banks will need to exchange banknotes worth over $105 million (87 billion naira) every day. Besides exacerbating the naira’s woes, Rewane reportedly said the CBN’s currency plan will not solve Nigeria’s inflation problem. Meanwhile, despite the naira’s fall to record levels versus the greenback on the parallel market, on Nov. 9 the currency was still pegged at around 450 per dollar on Nigeria’s official forex market. Register your email here to get a weekly update on African news sent to your inbox: What are your thoughts on this story? Let us know what you think in the comments section below. View the full article

Queen Maxima of the Netherlands has outlined multiple benefits central bank digital currencies (CBDCs) could bring, particularly in the area of financial inclusion. “Governments could use a digital euro to channel financial support to low-income households. This would deepen longer-term inclusion, and act as a gateway to other financial services,” she said. Queen Maxima Envisions a Better Future With CBDCs Queen Maxima of the Netherlands talked about central bank digital currencies (CBDCs) Monday at the “Towards a legislative framework enabling a digital euro for citizens and businesses” conference. She is the United Nations Secretary-General’s Special Advocate for Inclusive Finance for Development (UNSGSA). The conference was jointly organized by the European Commission and the European Central Bank (ECB). Focusing on financial inclusion and how a digital euro might “benefit underserved groups,” Queen Maxima explained that “Traditional financial services have created roadblocks for inclusion,” citing high transaction fees, minimum account balances, and onerous document requirements. She added, “New digital financial services suffer from a low level of trust, poor customer experiences, and the lack of digital capacities among some groups,” elaborating: While CBDCs are not the only way to overcome these barriers, they can help: both encouraging providers to lower costs and broaden access, while also incorporating the advantages of central-bank money — such as safety, finality, liquidity, and integrity. Noting that CBDCs could also “offer benefits for social policies,” she described: “Governments could use a digital euro to channel financial support to low-income households. This would deepen longer-term inclusion, and act as a gateway to other financial services.” Nonetheless, she warned that the benefits that CBDCs could bring “are not automatic,” suggesting: The implementation of any CBDC could be accompanied by policy reforms and safeguards, to address difficulties and risks. These include overcoming low levels of financial and digital literacy, and operational challenges, including cybersecurity. “The design of CBDCs could give people more control over their transaction data, and the ability to share it with a wider set of financial service providers,” she further opined. “This could support envisioned innovations from the Digital Markets and Digital Service Acts.” In conclusion, Queen Maxima said: I am encouraged by the technical work and ongoing consultation by the European Central Bank … So let us envision that better future and build a digital euro that works for all Europeans. The Eurosystem has launched the investigation phase of a digital euro project and the European Commission has announced a legislative proposal on a digital euro for early 2023. ECB Chief Christine Lagarde said in February that a digital euro will not replace cash but could offer a convenient, cost-free means of payment. In September, the ECB chose Amazon and four other companies to help develop a digital euro. What do you think about the comments by Queen Maxima of the Netherlands? Let us know in the comments section below. View the full article

Just days after registering marginal gains against the U.S. dollar, the Ghanaian currency — the cedi — slipped to C14:$1 versus the U.S. dollar on the foreign exchange parallel market on Nov. 7. The cedi’s reversal is said to have dented the currency’s recovery prospects. On the other hand, Ghana’s former president John Mahama and economist Steve Hanke have suggested that the country’s inflation rate is much higher than the 37.2% which was recorded in September. Cedi’s Interbank Exchange Rate Unchanged Just days after it marginally recovered from an all-time low, the Ghanaian currency’s exchange rate versus the U.S. dollar slipped beyond the 14:1 mark on Nov. 7, a report has said. According to the report, the cedi’s fall from C13.95 to C14.20 per dollar on the forex parallel market suggested that the currency’s much-talked-about recovery versus the greenback is unlikely to happen any time soon. Bank of Ghana Exchange Rates pic.twitter.com/oognH3AM42 — Bank of Ghana (@thebankofghana) November 4, 2022 Despite its latest fall versus major global currencies on the parallel market, the Bank of Ghana (BOG)’s Nov. 8 exchange rate data showed the cedi was trading at just above 13 units for every dollar. In fact, since the BOG’s Oct. 27 update, the cedi’s interbank exchange rate versus the dollar has remained largely unchanged. Ghana’s Real Inflation Rate After starting the year trading above 6:1, the cedi, according to the BOG, “has depreciated by 37.5 per cent, 24.1 per cent, and 27.5 per cent against the US dollar, the pound, and Euro, respectively.” The BOG blames higher crude oil prices, the “non-roll over of maturing bonds by non-resident investors,” as well as policy reversals, for the cedi’s woes. The cedi depreciation has, in turn, seen the country’s official inflation rate surge past 37% in September. Despite this being the country’s highest inflation rate in two decades, President Nana Akufo-Addo was recently quoted claiming that Ghana’s rate is still better than that of Togo and Senegal. However, former Ghanaian president John Mahama and Steve Hanke, a professor of applied economics at Johns Hopkins University, have cast doubts over the genuineness of Ghana’s official inflation rate figures. While Mahama suggested that Ghana’s food inflation is around 122%, Hanke placed Ghana’s inflation rate at 142%, the world’s third-highest rate. According to the economics professor’s latest inflation dashboard, the only countries whose inflation rates surpass that of Ghana are Zimbabwe (417%) and Cuba (151%). Register your email here to get a weekly update on African news sent to your inbox: What are your thoughts on this story? Let us know what you think in the comments section below. View the full article

PRESS RELEASE. ZOIDS WILD NFT ARENA, a blockchain trading card game presented by Z SPOT and developed by ACT Games, launches a two-week beta test named Frontier Test today, where players can experience various aspects of the game for free. The Test takes place from November 10th to November 23rd, and players can still signup for the Test throughout the two-week period. Frontier Test offers the players a full-fledged experience of the game, even offering monetized portions of the game for free. Players will periodically receive a set of new cards through Inbox, which can then be used to form a deck of thirty cards required to play against other players. Players can also upgrade these cards to higher grades by burning through three material cards of the same level and in-game Tokens, which the players will also receive periodically through Inbox. Players can test out the game in English on Android and PC. Players will finally get to experience the fast, dynamic gameplay featuring in-depth strategy involving card combinations, elements that have been scarce in blockchain games. Frontier Test offers prize money of $20,000 USDT to avid participants that partake and enjoy the game, with the rewards being assigned based on each player’s ranking and the accompanying tier. Accompanying the Test is ZOIDS WILD NFT ARENA’s second airdrop, which consists of 1,000 limited-edition NFT cards of Gilraptor. One of the conditions for this airdrop involves Frontier Testers leaving meaningful feedback on the game, as well as the usual prerequisites involved in the airdrop. Z SPOT revealed that the Frontier Test is designed to seek and acquire valuable opinions from the participants to balance the gameplay and prepare for the grand launch. ■ About ZOIDS The “ZOIDS” series encompasses substantial content that TOMY Company, Ltd. has been developing as original intellectual property since 1983. ZOIDS are a biomechanical lifeform themed on dinosaurs and animals, named by combining the two words “zoic” (pertaining to animals or living beings) and “android” (a robot with a human appearance). ZOIDS are Real Moving Kit toys (assembly-type motorized toys) that are equipped with electric motors or wind-up mechanisms and move similarly to a real lifeform once assembled. For the first time in 12 years, efforts to develop “ZOIDS WILD,” the latest ZOIDS series, were initiated in 2018. Official website: www.takaratomy.co.jp/products/zoidswild ■ About ZOIDS WILD NFT ARENA ZOIDS WILD NFT ARENA is a blockchain trading card game (TCG) incorporating units from TV Animations “ZOIDS WILD” and “ZOIDS WILD ZERO” franchises as NFT cards. ZOIDS WILD NFT ARENA allows players to purchase the NFT cards and store them on the blockchain, using them to battle against other players, like a real-life trading card game. ZOIDS WILD NFT ARENA is an officially-licensed project from TOMY Company, Ltd., developed by ACT Games and will be published by Z SPOT. ZOIDS WILD NFT ARENA is set to be released in January of 2023, and it will be serviced globally except for the following regions: Japan, China, and Korea. ■ About Z SPOT Z SPOT PTE. LTD. is a blockchain game publisher founded in 2022 in Singapore, specializing in publishing WEB 3.0 games. In addition, the company is a platform developer for popular Web 3.0 projects, with many more titles on the way. [Copyright] © TOMY /ZW, TX © TOMY /ZW, MBS © TOMY © 2022 ACT GAMES CO., LTD. ALL RIGHTS RESERVED. Published by Z SPOT PTE. LTD. For more information: Airdrop Gleam: https://gleam.io/GmXPX/zoids-wild-nft-arenas-2nd-airdrop Sign up for Frontier Test: https://bit.ly/3CQF3RL Official Website: https://zoidswild.io/ Official Twitter: https://twitter.com/ZoidsWild Official Discord: https://discord.gg/zoidswild For questions regarding this press release, please contact: Z SPOT PTE. LTD. zspot@zspot.io This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

Moneyfellows, an Egyptian fintech startup specializing in digitizing money circles, recently announced the close of its Series B funding round that raised $31 million. The funds will be used to finance Moneyfellows’ expansion into other markets as well as accelerate the fintech’s growth. Diversifying Moneyfellows’ Portfolio Egyptian fintech startup Moneyfellows recently revealed it had raised $31 million from its Series B funding round which was led by Commerz Ventures, Middle East Venture Partners (MEVP), and Arzan Venture Capital. Also participating in the round were the startup’s existing investors like Partech, Sawari Ventures, 4DX Ventures, and P1 Ventures. According to a Disrupt Africa report, Moneyfellows, a mobile platform-based that specializes in digitizing Egypt’s savings and credit associations, plans to use the capital raised to fund the startup’s expansion into new markets. There are plans to use the recently raised capital to hasten Moneyfellows’ growth and the diversification of its portfolio, the report added. ‘Facilitating Financial Inclusion’ Remarking on the startup’s latest fundraise, Ahmed Wadi, the founder and CEO of Moneyfellows, said: “We are proud to share with our stakeholders and our users the progress and growth which led MoneyFellows to become one of the market-leading fintechs in Egypt, facilitating financial inclusion and digital transformation in the country.” For her part, Hangwi Muambadzi, a partner at Commerz Ventures, commended the Moneyfellows team and expressed her organization’s excitement at partnering with a startup said to be committed to delivering “a transformative solution that will continue to enable millions to achieve their financial goals.” Register your email here to get a weekly update on African news sent to your inbox: What are your thoughts on this story? Let us know what you think in the comments section below. View the full article

The European Commission is going to present a legislative proposal for a digital euro in the near future, President of European Central Bank Christine Lagarde has indicated. EU legislators are expected to define the new currency’s legal tender status and determine its privacy features. EU Commission to Propose Legislation for Eurozone’s Digital Currency Authorities in the euro area have already made good progress in exploring the rationale and the potential benefits and risks of a central bank digital currency (CBDC), the head of the European Central Bank (ECB) noted during a conference devoted to the digital version of the common currency. In a video message, Christine Lagarde said that the focus of their efforts is now shifting to the concrete design of the digital euro and its embedding into a legal framework. This is an area where EU legislators will play an important role, the top executive stressed and revealed: I’m therefore very much looking forward to the legislative proposal for establishing a digital euro which the European Commission will propose shortly. The executive body in Brussels is one of the main participants in the European Union’s complex legislative process, along with the European Parliament and the Council of the EU, and is responsible for suggesting new laws. In her statements, published by the ECB, Lagarde pointed out that the co-legislators must now define the balance between competing public objectives. She marked two aspects in particular — privacy and the digital euro’s legal tender status. New Legislation to Determine Privacy Features and Legal Tender Status for Digital Euro Reminding that 43% of the respondents in the public consultation on the digital euro ranked privacy as the most important feature of the upcoming CBDC, the president of the eurozone’s monetary authority acknowledged that if the coin is to be attractive, it needs to meet people’s expectations in that respect. “We should at least provide a level of privacy equal to that of current electronic payment solutions,” Christine Lagarde emphasized while excluding full anonymity, such as offered by cash, citing anti-money laundering rules and the need to limit the use of the digital euro for investment. However, she did not rule out greater privacy for low-value, low-risk, and offline payments. Elaborating on the other aspect that she highlighted, Lagarde insisted that it is a constitutional feature of cash, as central bank money, to be legal tender and made it clear that the same principle should apply to the digital version of the euro, allowing citizens to use it to pay anywhere. This should include digital payments in physical stores, e-commerce, and peer-to-peer payments, the head of the ECB detailed. In her address, Christine Lagarde also emphasized the importance of the upcoming Markets in Crypto Assets legislation (MiCA) and listed the emergence of cryptocurrencies like bitcoin and ether among the major developments leading to a potentially disruptive transformation of the traditional model of payments. Do you expect the EU Commission to put forward draft legislation for the digital euro soon? Tell us in the comments section below. View the full article

According to a report published on Nov. 9, 2022, Temasek Holdings, the Singaporean state holding company owned by the government of Singapore is allegedly engaging with FTX amid Binance’s plans to bail out the crypto trading firm. Singapore’s state investor has been known to have invested in the cryptocurrency and blockchain industry for quite some time now. Singaporean State Holding Company Temasek Helped Fuel FTX’s Series B and C Funding Rounds, Spokesperson Says Company Is Engaging With FTX On Nov. 9, 2022, The Straits Times (TST) business correspondent Claire Huang reported that a spokesperson from Temasek Holdings has been engaging with FTX. Temasek is Singapore’s state-owned holding company that was established in 1974. Temasek’s assets under management (AUM) as of 2022 are estimated to be worth around S$403 billion. “We are aware of the developments between FTX and Binance, and are engaging FTX in our capacity as a shareholder,” the Temasek spokesperson reportedly told Huang. The news follows Binance CEO Changpeng Zhao (CZ) telling the public his company would acquire FTX, with details to be announced in the near future. However, following CZ’s initial statements, Binance revealed on Nov. 9 that it has officially backed out of the deal to acquire FTX. Temasek has been investing in cryptocurrency and blockchain industry-related companies for the last few years. For instance, the government-owned firm led a Series C round that saw Immutable (Immutable X) raise $200 million. As far as the trouble crypto exchange FTX is concerned, Temasek funding helped fuel FTX’s Series B and C rounds. Leveraging Vertex Ventures, Temasek is also invested in Binance, the TST business correspondent details in her report. Temasek led a funding round for the blockchain gaming publisher and Web3 firm Animoca Brands with Boyu Capital, and GGV Capital when Animoca Brands raised $110 million in September. What do you think about the reported comments from the spokesperson from Temasek Holdings concerning engaging with FTX? Let us know what you think about this subject in the comments section below. View the full article

FIFA and Upland have agreed to a multi-year partnership, starting with the FIFA World Cup Qatar 2022 The first of its kind partnership allows football fans from around the world to get a better understanding of Web3 and how to enjoy and benefit from a gamified metaverse experience Agreement includes access for fans to own collectibles of legendary video highlights from FIFA World Cup Qatar 2022 matches PALO ALTO, Calif. November 9, 2022 – Upland and FIFA have today announced a multi-year partnership that allows the Upland community and football fans worldwide to collect, trade, and own FIFA digital assets and game video highlights, pursuing a joint mission to help fans get a better understanding of how the metaverse and web3 work. Through the experience, fans will learn how to participate and contribute to the virtual community-driven environment. A broad variety of activities in Upland during and between tournaments will support the education efforts and the opportunities for fans to support their favorite national team. Upland will work with FIFA to create fun, gamified experiences in the largest open metaverse mapped to the real world with over 3 million registered accounts. For FIFA World Cup Qatar 2022 a fully constructed replica of the Lusail Stadium alongside a FIFA World Cup branded village, shops, and showrooms, will be added to their real-world addresses in Upland which fans can visit virtually. For FIFA World Cup Qatar 2022 Upland also introduces a collection game for the football fans, with a limited number of mystery bundles at multiple rarities available. They include country specific team crests, boots, shirts and historic Official World Cup logos, posters, and mascots so that fans can complete digital collection albums across all thirty-two (32) country teams represented. Completing collections will contribute to a user’s fan score, and those with the highest scores will win prizes, including, for example, the Lusail Stadium as virtual property in the metaverse. Other core game mechanics include the possibility to obtain special mementos of this year’s tournament; including video highlights of the games which cannot be purchased directly from Upland. There are twenty-two (22) real world cities open in Upland, where fans can start their metaverse journey by acquiring and trading virtual properties that are based on real-world addresses. Fans can now add buildings and prominently display their FIFA World Cup pride in the form of country flags and FIFA World Cup Qatar 2022 branded outdoor decor items adding more value to the properties themselves. Fans will also have the opportunity to become metaverse entrepreneurs and create shops on their properties to sell their collected assets to other players. “No other world competition unites countries and people worldwide quite like the FIFA World Cup,” says Dirk Lueth, Co-Founder and Co-CEO of Upland. “We’re excited to create a multi-touch web3 experience showcasing fun, innovation, entrepreneurialism and community as the first of many opportunities in the future of FIFA World Cups, where fans can now collect, own, and share a real moment in history.” The FIFA World Cup journey culminates with the final on December 18, 2022 and as the world celebrates the winner in reality, so too will Upland. Upland will announce its first ever capital city for the winning nation, and the legacy of the FIFA World Cup Qatar 2022 will remain intact in Upland with elements of the metaverse replica of the stadiums, shops, showrooms, and properties given as prizes to fans with the most album collections of digital assets and videos acquired in Upland. Upland is available to download for free on iOS, Android and the web, and can be played from anywhere in the world. ABOUT UPLAND Upland (https://upland.me/) is an open web3 platform for the metaverse mapped to the real world. The company’s mission is to build one of the leading and most dynamic maker-communities through a strong entrepreneur economy that allows players, creators, developers, and brands to manufacture goods and experiences, monetize assets, and provide utility and fun to other players. Headquartered in Silicon Valley with hubs in Las Vegas, Ukraine, and Brazil, Upland was named among Fast Company’s “Next Big Things in Tech” in 2021 and one of “22 San Francisco Startups To Watch in 2022” by Built In SF. Upland is committed to becoming carbon negative and is a proud partner of Carbonfuture. For more information about our sustainability commitment visit https://www.upland.me/sustainability. Upland is available on iOS, Android and the Web, and can be played from anywhere in the world. ABOUT FIFA FIFA exists to govern football and to develop the game around the world. Since 2016, the organization has been fast evolving into a body that can more effectively serve our game for the benefit of the entire world. CONTACT: Lindsay Anne Aamodt, Upland – lindsay.a@upland.me This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

Following the issues surrounding FTX, the publicly-listed firm Galaxy Digital published its third-quarter earnings report and noted it has an “exposure of approximately $76.8 million of cash and digital assets to FTX.” The news follows a great number of exchange executives announcing that they had zero material exposure to the troubled exchange. Galaxy Digital Has Close to $77 Million in FTX Exposure After Galaxy Digital was dealt with a blow from the Terra blockchain fallout and UST depegging event, the company has revealed exposure to the embattled crypto exchange FTX. It started on Nov. 6, when Binance CEO Changpeng Zhao (CZ) told the public his exchange would dump FTT, the FTX-built exchange token. Then, after a couple of days of confusion, CZ and FTX CEO Sam Bankman-Fried revealed Binance would be acquiring FTX, with details to be announced in the near future. However, Binance revealed on Nov. 9 that it has officially backed out of the deal to acquire FTX. The news has rattled the crypto economy and it has dropped below the $900 billion mark for the first time since January 2021. Furthermore, the news has pushed a number of exchange executives from companies like Coinbase, Circle, Deribit, and more to announce the firms had no material exposure to FTX. However, amid the swathe of platforms saying they held no exposure to the troubled exchange, third-quarter (Q3) earnings stemming from Galaxy Digital show the firm had close to $77 million in exposure to FTX. “On November 8, 2022, FTX.com (FTX), a digital asset exchange on which the partnership holds cash and digital assets, announced that it entered into a non-binding arrangement with Binance Holdings Ltd. to provide liquidity,” Galaxy’s Q3 report discloses. “As of the date of this filing, the partnership has an exposure of approximately $76.8 million of cash and digital assets to FTX, of which $47.5 million is currently in the withdrawal process.” It is uncertain how the “withdrawal process” is going for Galaxy at the moment but in the Q3 report the billionaire investor and founder of Galaxy Digital, Michael Novogratz, said Galaxy remains focused. “While our industry continues to face macroeconomic headwinds and structural evolution, Galaxy remains focused on building for the future state of institutional adoption by taking deliberate steps to transform and simplify our operations,” Novogratz wrote. What do you think about Galaxy Digital being exposed to FTX by close to $77 million? Let us know what you think about this subject in the comments section below. View the full article

FTX Token plunged by over 70% in today’s session, as sentiment surrounding Binance’s potential buyout of FTX continued to raise market eyebrows. Following speculation that FTX could be insolvent, Binance’s Changpeng “CZ” Zhao moved to acquire the firm, pending due diligence. Solana is also significantly lower, due to FTX’s sister company Alameda currently holding large amounts of SOL. FTX Token (FTT) FTX Token (FTT) continued to sink on Wednesday, as the token lost over 70% of its value in today’s session. Following yesterday’s high of $19.51, FTT/USD plunged to an intraday low of $3.15 earlier in the day. The move came as markets continued to digest Binance’s decision to agree to an acquisition of the firm, pending due diligence (DD). Many believe that the DD could show the true significance of FTX’s balance sheet, which some expect could intensify the current sell-off. As of writing, the 14-day relative strength index (RSI) is at 11.98, which is its weakest point on record, eclipsing yesterday’s record reading of 23.79. Despite prices already in the depths of bearish territory, there could be more still to come, should 1) an acquisition not be completed, or 2) damning news be revealed about FTX. Solana (SOL) In addition to FTT, solana (SOL) was another notable loser on Wednesday, as the once top 10 cryptocurrency fell by nearly 40%. SOL/USD dropped to a low of $16.47 on Wednesday, less than 24 hours after residing at a peak of $31.06. This decline in solana comes as traders believe that FTX’s sister company Alameda could move to sell its holdings of SOL, to obtain liquidity. Looking at the chart, SOL is now down for a fourth straight day, with its RSI currently tracking at 26.95, close to a floor of 27.00. In addition to this, the 10-day (red) moving average looks set for a downwards cross against its 25-day (blue) counterpart, which could trigger even more declines. As of writing, SOL has marginally rebounded, as is currently trading at $18.70. Register your email here to get weekly price analysis updates sent to your inbox: Do you expect solana to fall below $10.00 this week? Let us know your thoughts in the comments. View the full article