Category: Cryptocurrency

Cryptocurrency

Paris Listing Bitcoin Mining ETF as Gold’s Record Broken

Paris Listing Bitcoin Mining ETF as Gold’s Record Broken

US’ bitcoin ETF has broken all records in surpassing $1 billion of assets under management (AUM) within two days, faster than the decades long held record by Gold’s ETF which surpassed $1 billion within three days as pictured above.

“The Proshares BITO ETF is the fastest ETF ever to get to $1 billion dollars (two days). The second fastest was the first gold ETF (GLD) which got to $1 billion in five days. 3 years after the GLD ETF launched in 2004, the AUM was $10 billion. 5 years after launch it was at $75 billion,” Bitwise’s CIO said.

There’s going to be competition however with another futures ETF, Vaneck’s Bitcoin Futures ETF, expected to start trading this Monday.

While in Paris we’re goin to get the world’s first bitcoin mining ETF. Approved in August, the Melanion BTC Equities Universe UCITS ETF is listed to start trading tomorrow, Friday 22nd of October, on Paris’ NYSE Euronext stock exchange, which has some €5.6 trillion in listed assets.

It will trade under the ticker of BTC FP with a management charge of 0.75%, lower than the above ETFs.

The Exposure index is made up of primarily bitcoin miners like Argo Blockchain, Hut 8, or Bitfarms with this effectively being a way to invest in part of the mining sector in one go.

This is a fairly direct way of investing in bitcoin as a number of these stock traded miners hold their coins. Mara for example announced a further increase in their bitcoin holdings to 7,035 bitcoin as of October the 1st, now worth $450 million.

As they can raise funds from the stock market itself, they tend to have less pressure to sell their coins to fund business operations, so increasing bitcoin’s effective scarcity.

The ETF scene thus is becoming more diverse and more competitive as bitcoin enters the world’s biggest markets.

Crypto remittances see adoption, but volatility may be a deal breaker

Crypto remittances see adoption, but volatility may be a deal breaker

Cryptocurrency adoption has been growing for a number of reasons. In emerging markets, research suggests crypto remittances are a factor, although some argue that the idea of using cryptocurrencies for these transactions is nothing more than a purist’s dream.The CEO of cryptocurrency derivatives trading platform BitMEX, Alexander Höptner, predicted earlier this month that by the end of next year, at least five countries will have accepted Bitcoin (BTC) as a legal tender, as crypto assets can be faster and cheaper for remittances.He believes that all five will be developing countries and that they would adopt cryptocurrencies because of the growing need for cheaper and faster cross-border transactions, increasing inflation and growing political issues.Various other commentators have suggested that Bitcoin and other cryptocurrencies are a solution to the high costs associated with remittance payments, as a cryptocurrency transaction can be much cheaper than a remittance payment while settling in a shorter amount of time.El Salvador was the first country in the world to adopt Bitcoin as legal tender with the country’sBitcoin Law officially coming into effect on September 7. The government launched a cryptocurrency wallet called Chivo that uses the Lightning Network, a layer-two scaling solution, to transact. The country has also purchased 700 BTC over time.Global remittances reached over $689 billion in 2018, and commissions were so high a $49 billion industry grew around them. To crypto proponents, El Salvador is a perfect example of how cryptocurrencies can positively change the world, but to others, volatility and a general lack of trust in the market make cryptocurrency adoption impractical and unadvisable.Are cryptocurrencies banking the unbanked?With the Chivo wallet, Bitcoin could effectively help offer financial services to El Salvador’s un- and underbanked population. The country’s president Nayib Bukele revealed in September 2021 that 2.1 million Salvadorans are actively using the wallet, despite the pushback against the new law that saw protests even burn a Bitcoin ATM machine.2.1 million Salvadorans are ACTIVELY USING @chivowallet (not downloads).Chivo is not a bank, but in less than 3 weeks, it now has more users than any bank in El Salvador and is moving fast to have more users that ALL BANKS IN EL SALVADOR combined.This is wild!#Bitcoin— Nayib Bukele (@nayibbukele) September 25, 2021Per his words, Chivo isn’t a bank, but in three weeks gained more users than any bank in the country. That adoption may, however, be related to a $30 in BTC airdrop El Salvador sent to every adult citizen with the government’s wallet app.Speaking to Cointelegraph, Eric Berman, senior legal editor of U.S. finance at Thomson Reuters Practical Law, said remittances using cryptocurrencies are a “purist’s pipe dream.” While Höptner pointed out that remittances made up 23% of El Salvador’s gross domestic product in 2020, Berman countered that only a fraction of the nation’s businesses has taken a Bitcoin payment and that the government’s cryptocurrency app has been plagued by technical issues.Berman further added that “most of El Salvador’s $6 billion in annual remittances still comes via money transfers,” as many are wary of the cryptocurrency’s volatility. Because of the volatility’s impracticality, he said, Bitcoin hasn’t been widely adopted as a payment method among merchants, adding:“This impracticability is magnified exponentially for the disenfranchised and unbanked. No one wants to send mom $100 only to have it be worth $80 by the time it gets to her.”Berman added that “rather than the populist uprising that BTC purists have been touting for years,” Bitcoin’s adoption has instead been growing thanks to “some perhaps long overdue happy noises from U.S. and global regulators.”Indeed, the United States Securities and Exchange Commission (SEC) head Gary Gensler has confirmed the regulator won’t ban crypto. In fact, the SEC approved the first Bitcoin futures-linked exchange-traded fund (ETF) in the United States, ProShares’ Bitcoin Strategy ETF, this week.Bitcoin’s growing adoption and price, Berman suggested, are the result of “institutional enthusiasm that is quite the antithesis of the grassroots movement for the disenfranchised and unbanked that spawned BTC over a decade ago.”Oleksandr Lutskevych, the founder and CEO of cryptocurrency exchange CEX.IO, seemingly disagrees with Berman’s assessment, saying El Salvador’s adoption highlights Bitcoin as “replacing the traditional, centralized rails used for remittances.”To Lutskevych, Bitcoin’s infrastructure is being adopted to also promote the transfer of stablecoins on top of its network, ensuring the cryptocurrency’s volatility won’t affect remittances. El Salvador’s move, he said, promotes financial inclusion by helping cut down remittance costs.Adoption out of “pure necessity”In emerging markets, crypto proponents suggest adoption may be a result of “pure necessity,” as the transaction fees paid on most blockchain networks dwarf the fees paid to some remittance vendors. According to Lutskevych, it’s “abundantly clear in the rationale behind Bukele’s campaign that made BTC legal tender” that the nature of the move was to drive BTC adoption forward through remittances. Lutskevych went on to add further:“One of the primary reasons why the country passed such legislation was to lower remittance costs, promote financial inclusion and boost GDP by leveraging BTC and its transfer infrastructure to promote financial inclusion.”Per his words, the adoption of new technology is often the result of “pure necessity,” and that may be the case with Bitcoin and cryptocurrencies in developing nations whose populations are heavily affected by remittance costs, which according to Markus Franke, a partner at cross-border crypto payments firm Celo Labs, averages 6.38% and can often go over 10% of the amount being sent.Driving his point forward, Lutskevych added that the Chainalysis Global Crypto Adoption Index for 2021 shows that out of the top 20 countries by cryptocurrency adoption, two-thirds are “developing countries with a high percentage of GDP coming from remittances.”He added that developing countries are now recognizing the value of “BTC’s scalable transfer infrastructure, combined with Bitcoin’s sound money properties and decentralization.”Lutskevych also noted that Bitcoin’s Lightning Network capacity is up over 25% since El Salvador’s Bitcoin Law came into effect, while the number of payment channels routing payments on the network also moved up significantly and began a “parabolic trend right around the time of the law becoming effective.”To him, growing peer-to-peer (P2P) trading volumes in countries like Nigeria suggest cryptocurrencies like BTC are playing a role in “getting foreign money into the country.”Franke added to the line of thought, saying cryptocurrencies can be programmed, allowing for more complex financial operations without third parties. These features, Franke said, have seen remittance giants take an interest in cryptocurrencies.As an example, he pointed to MoneyGram launching USDC settlement using the Stellar blockchain, and added that the Asian Development Bank has revealed services like Ripple, Mobile Money and bKash helped “deliver faster settlement, greater operational efficiencies and more competitive foreign exchange rates during the COVID-19 pandemic.”Amr Shady, CEO of business-to-business payment and financing platform Tribal Credit, told Cointelegraph that Mexico could be another example of a country adopting cryptocurrencies for remittances, as estimates have shown they could reduce costs by 50% to 90%.It all comes down to numbersIf, indeed, five countries do adopt Bitcoin or any other cryptocurrency as legal tender, adoption seems likely going to keep on growing. Emerging markets rely on remittances and the use of stablecoins appears to be a viable solution to the volatility of crypto assets like BTC.Projects like Facebook’s Novi are already using stablecoins to facilitate cross-border transactions, with the project’s marketing efforts having a heavy focus on remittances. Central bank digital currencies (CBDCs) may offer similar cheap transactions that will help users move money across borders at a low cost.Related: Asian CBDC projects: What are they doing now?The problem with these two solutions is the central entities behind them who can easily start discriminating, and for example, geoblock users. Decentralized blockchains are working on scaling to accommodate thousands of transactions per second, bringing down remittance costs. Add in stablecoins, and the only thing blocking mass crypto adoption could very well be the specific knowledge needed to navigate different blockchains and understand how addresses work.User-experience improvements have for long been moving addresses and blockchain navigation to the back while helping users focus on payments. Once the use of blockchain technology happens behind the scenes at a low cost, remittances will inevitably turn to crypto. Yet, those transactions may be years away.

AGM Group Announces Significant Order for 25,000 Digital Currency Mining Machines

AGM Group Announces Significant Order for 25,000 Digital Currency Mining Machines

BEIJING, China, October 21, 2021,  – AGM Group Holdings Inc. (“AGMH” or the “Company”) (Nasdaq: AGMH), an integrated technology company focused on providing fintech software services and producing high-performance hardware and computing equipment, today announced that it agreed to supply MinerVa Semiconductor Corp. (“MinerVa”) with 25,000 units of its 100 TH/S MinerVa MV7 ASIC
to build the MinerVa family of crypto miners.  MinerVa is a premier high-performance ASIC design and manufacturing company and is the exclusive distributor of industrial-grade crypto miners to leading global large-scale mining companies.
MinerVa has influential relationships and resource networks within the Fintech and Blockchain ecosystems and provides top-tier end-to-end technology solutions to notable global blockchain players like Terawulf Inc. and TrueNorth Data Solutions.  The Company will soon receive a US$20 million deposit for the crypto miners.  The remainder of the order value will be paid before delivery commences.
Mr. Steven Sim, Chief Financial Officer of AGMH, commented, “This order builds on the previous Nowlit order from October 13th and is a testament to the effectiveness of our new growth strategy as we continue to solidify our pioneering position in the market.  The purchase enables us to increase our cashflow, which gives us a sound financial footing as we begin our plans for mass production in 2022. Leveraging our advanced hardware and computing equipment production capabilities, we believe we are well-positioned to capture the vast growth opportunities in this thriving industry.”
About AGM Group Holdings Inc.
Incorporated in April 2015 and headquartered in Beijing, China, AGM Group Holdings Inc. (NASDAQ: AGMH) is an integrated technology company focusing on providing fintech software services and producing high-performance hardware and computing equipment. AGMH’s mission is to become one of the key participants and contributors in the global fintech and blockchain ecosystem. For more information, please visit www.agmprime.com.
Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. All statements other than statements of historical fact in this press release are forward-looking statements and involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These forward-looking statements are based on management’s current expectations, assumptions, estimates and projections about the Company and the industry in which the Company operates, but involve a number of unknown risks and uncertainties, Further information regarding these and other risks is included in the Company’s filings with the U.S. Securities and Exchange Commission. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and actual results may differ materially from the anticipated results. You are urged to consider these factors carefully in evaluating the forward-looking statements contained herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements.
For more information, please contact:
At the Company:
Email: [email protected]
Investor Relations:
Sherry Zheng
Weitian Group LLC
Email: [email protected]
Phone: +1-718-213-7386

Does DeFi Trading Have to Be Complicated?

Does DeFi Trading Have to Be Complicated?

Currently, DeFi is too separated and disjointed. This complicates DeFi trading to the point where it becomes confusing, time-consuming, arduous and expensive. The number of total DeFi users has surpassed 3.5 million people, and overall DEX trading volume is at $816 Billion for the last year. The average number of weekly DEX traders is more than 200,000, and approximately 40% of them are facing problems with multi-step transactions.
Swapping an ERC-20 token for a BEP-20 token requires the following steps:

A token swap on an Ethereum DEX to a bridge-compatible token;
Then a swap across the bridge;
Then an additional swap on a BSC-based DEX, to get to your targeted BEP-20 token.

This process is clunky, can be very confusing, requires both source and target network’s native assets, and ultimately it ends up being very expensive.
There are numerous projects that aim to solve one or two issues. However, no one is trying to consolidate everything into one location… except for Rubic.
Among other projects, Rubic has come up with a helpful feature – Multi-Chain Routing, which massively simplifies the process of trading tokens across different networks. Rubic combines the first step (bridge) and the second steps (exchange) into one Swap, offering the best route; taking into account the liquidity and cost of gas, to give the user the best value possible.
Rubic is a Multi-Chain swap protocol with an opportunity to swap more than 9,500 tokens between 4 blockchains: Ethereum, BSC, Polygon and now Avalanche. Rubic has a year-long experience in DeFi and a trading volume of $53,970,125.
Rubic’s goal is to integrate one blockchain every month; the last one, Avalanche, took place in October.  It included the integration of three major DEXs on the Avalanche ecosystem: SushiSwap, Trader Joe and Pangolin. It will provide its users with significantly better rates and lower fees for Multi-Chain Swaps on Avalanche.
In regards to the Avalanche Multi-Chain Routing integration into Rubic.exchange, Rubic is offering users a Gas Refund for Multi-Chain Protocol transactions of $200 or more within the Avalanche ecosystem. Currently, Rubic has built partnerships with  $DUN, $TUN, $EXP, $CYCLE, $SING, $TSD, $AVE, $GB, $VSO, $YAK, $PNG, $MKC, $SWIFT, and $JOE. The Gas Refund campaign started on October 19th and lasts until November 2nd.

PayPal Co-founder Peter Thiel Admits He Underinvested In Bitcoin

PayPal Co-founder Peter Thiel Admits He Underinvested In Bitcoin

Billionaire entrepreneur, venture capitalist, and PayPal co-founder Peter Thiel said he should have bought more Bitcoin. During an interview hosted by the Lincoln Network in Miami on Wednesday, he spoke about cryptocurrencies, central banks, and Artificial Intelligence.
Miami has become a hotspot for crypto investors. Several crypto startups recently announced new offices in the city. The PayPal co-founder’s venture capital firm, Founders Fund, was also an early promoter of Miami as a new tech hub.
Peter Thiel Praises Crypto
During the Miami event, Thiel praised cryptocurrencies and admitted that he may have underinvested in Bitcoin.“You’re supposed to just buy Bitcoin,” he said, adding: “I feel like I’ve been underinvested in it.” Thiel further pointed out that his only hesitation about investing was that he thought “the secret was already known by everybody.” He concluded by saying “I think the answers are still to go long. Maybe it still is enough of a secret.”
He made these statements after Bitcoin blasted to an all-time high of over $67,000 on Wednesday. Thiel deliberated whether it would rise further. “Bitcoin at $66,000. Is it going to go up? Maybe,” He also added that the surge in crypto prices, “tells us that we are at a complete bankruptcy moment for the central banks.”
Related Reading | As Bitcoin Makes New ATH, Netflow Hints BTC Will Explode Here
In the interview, the tech investor also criticized Artificial Intelligence as a disputant to cryptocurrency. He likened crypto to his political philosophy of being libertarian because it’s a “force for decentralization,”Therefore, “AI, especially the sort of low-tech, surveillance form, is essentially communist,” because it’s a force for centralization. Thiel further said that he does not want to outlaw AI. Instead, he would like the people building it to “think about how they’re working on a technology that’s going to destroy the world.”
Thiel’s Relationship With Bitcoin
The tech investor has been a Bitcoin believer for a while now. Even in 2018, when Bitcoin’s price was bottoming, Thiel maintained his stance. “I would be long on bitcoin,” he stated.
Related Reading | Billionaire Peter Thiel: Bitcoin’s Potential is Underestimated
Earlier this week, he also talked about Bitcoin at an event hosted by conservative law group Federalist Society. The PayPal co-founder suggested that Bitcoin’s current bull run points to weaknesses in the U.S. political system. “I don’t know that you should put all your money into Bitcoin at $60,000 a Bitcoin right now,” he said.“But surely the fact that it is at $60,000 is an extremely hopeful sign,” he continued. Describing Bitcoin as “the canary in the coal mine,” Thiel said, “It’s the most honest market we have in the country, and it’s telling us that this decrepit … regime is just about to blow up.”

BTC trading at over $65K | Source: BTCUSD on TradingView.com
In April, while suggesting that Bitcoin may be ‘Chinese financial weapon against the U.S.’, Thiel described himself as a “pro-crypto, pro-Bitcoin maximalist,”
Thiel explained that “From China’s point of view, they want to get — they don’t like the U.S. having this reserve currency, because it gives us a lot of leverage over Iranian oil supply chains and all sorts of things like that,”
He expressed concern with the Chinese government’s goal to weaken the U.S. dollar. However, weeks later, China defied his predictions by launching a wide-ranging crackdown on Bitcoin and other cryptocurrencies.
Featured image by Real Daily, Chart from TradingView.com

Ethereum Jumps 21% Higher This Week, Second Largest Crypto Market Nears All-Time High

Ethereum Jumps 21% Higher This Week, Second Largest Crypto Market Nears All-Time High

After bitcoin reached its all-time high (ATH) on Wednesday, the second-largest crypto asset in terms of market capitalization, ethereum, is nearing its own ATH. The last time the crypto asset hit an ATH was five months ago on May 12.
Ethereum Climbs 46% in 30 Days, Commands Half Trillion Market Cap
The digital currency ethereum (ETH) came awfully close to surpassing its all-time high this week, reaching $4,379 per unit on the exchange Deribit. That’s only 0.1141% away from the ATH ethereum tapped five months ago ($4,384) on May 12, 2021.
Ethereum’s market movements have been slower over the last week, taking a backseat to bitcoin (BTC) after the first U.S.-based bitcoin exchange-traded fund (ETF) was launched. Three days after the listing, ethereum and a slew of other crypto assets started to pick up the pace in terms of market performance.
Ethereum/USD prices on Deribit as of Thursday, October 21, 2021.
Seven-day statistics show ethereum is up 21.0% this week and during the last month, ether has risen 46.5%. Year-to-date, ether has gained more than BTC, rising 1,084.4% during the last 12 months. ETH has a market capitalization of $513.6 billion today and is hovering at half of a $1 trillion market cap. Additionally, ether is much more valuable than it was during the bull run in 2017, as it has increased 8,985% since the high in December that year.

ETH Dominance Increases Over Last 2 Days, Ethereum Blockchain Still the Defi King
As far as dominance is concerned, BTC currently has 44.5% of the aggregate market cap of $2.79 trillion. Ether has 18.3% and its dominance has increased a great deal during the last 48 hours. At the time of writing, Ethereum’s network hashrate is 717 terahash per second (TH/s) which is equal to 0.717 petahash per second (PH/s). Ethereum proponents that stake ETH with a validator get around 4.89% annualized staking yield.
The top trading pair with ethereum today is tether (USDT) with 43.85% of all ether trades on Thursday. This is followed by USD (19.46%), BTC (12.11%), BUSD (7.38%), EUR (4.14%), KRW (2.68%), and JPY (1.74%). The top exchanges swapping the most ether today include Binance, Coinbase, FTX, Huobi Pro, Bitforex, and Huobi Japan.
The gray section of the chart represents the decentralized finance (defi) TVL held in the Ethereum blockchain on Thursday.
Furthermore, there is $240 billion total value locked in decentralized finance (defi) today and the Ethereum network commands $165.25 billion of that aggregate total. That’s 45.45% of the entire TVL in defi today which is lower than ETH’s 69% defi dominance just a few weeks ago.
Today there’s $86.25 billion in stablecoins on Ethereum, alongside 284,009 BTC, or $18.4 billion using today’s BTC exchange rates. Charts measuring bridges to Ethereum indicate there is $15.29 billion in cross-chain bridge funds held.
What do you think about ether’s market performance this week and the second-largest crypto asset nearing its all-time high? Let us know what you think about this subject in the comments section below.

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Bitcoin price flash crashes by 87% to $8K on Binance US

Bitcoin price flash crashes by 87% to $8K on Binance US

Bitcoin (BTC) crashed to just $8,100 on Oct. 21 — but only if you were trading on Binance’s dedicated United States exchange, Binance U.S.On Thursday, Binance U.S. suddenly printed a one-minute candle which took BTC/USD from $65,815 to $8,200 — a drop of 87%.”Shouldn’t be happening”In what traders call a “scam wick,” the one-minute BTC/USD differed dramatically from other major exchanges, which logged a one-minute candle with a floor around $64,200.The phenomenon has occurred more frequently in recent days, with Bitstamp also seeing freak order book events. The scope of the Binance U.S. error, however, was in a league of its own, and did not go unnoticed by market participants.”Well done Binance U.S.,” popular Twitter trader Crypto Chase summarized.”Good thing Americans are forced on to these dogshit exchanges where they can get completely scammed on unreasonably thin books. This type of shit just shouldn’t be happening. It’s not fair that some get stopped out and some stay in, some get fills and some don’t.”BTC/USD 1-hour candle chart (Binance). Source: TradingViewCrypto Chase referred to the implications sudden erratic price movements on exchanges, these serving to liquidate traders who should have retained their positions.The debacle was tinged with irony, coming just as Binance CEO Changpeng Zhao, known as CZ, warned about incoming volatility.”Expect very high volatility in crypto over the next few months,” he tweeted on the day.Leverage builds in overly long marketMeanwhile, concerns were also mounting Thursday that leveraged traders had taken on more risk than they could chew.Related: Bitcoin futures ETF hits $1B AUM in a record-breaking two daysA look at funding rates across exchanges hinted at excessive optimism, with traders going long BTC en masse — a classic indicator of a correction.Funding rates had increased significantly in the hours after BTC/USD passed its recent all-time high and went on to hit $67,100.Bitcoin funding rates chart. Source: Bybt

Trace Networks Onboards 883 Police, To Launch Digital Fashion NFTs on the Bling Marketplace

Trace Networks Onboards 883 Police, To Launch Digital Fashion NFTs on the Bling Marketplace

The popular Italian designer brand, 883 Police is all set to launch the special edition “883 Police NFT Collection” on Bling lifestyle and luxury NFT marketplace as a part of its collaboration with Trace Network Labs.
The 883 Police NFT Collection includes digitized versions of special edition apparel and fashionwear NFTs that can be owned and carried in multiple metaverses. As a fabric that brings together luxury goods and the digital world together, Bling will be auctioning this limited edition, exclusive NFTs on its platform.
In a recent media interaction, the CEO of 883 Police India Seetharaman Kannan said, “We are delighted to partner with Trace Network Labs to bring forth a revolutionary phase of digital fashion with 883 Police branded NFTs. We are confident that with the 883 Police brand’s legacy of many years we can bring in extraordinarily quirky digital fashion that can be transaction as NFTs and also worn by users of a metaverse.”
Tracing back in time, the 883 Police brand was started in 1995 in Italy. Over the past two and a half decades, the company has been at the forefront of clothing innovation, “Denims” in particular, and expanded its reach to become one of the aspirational brands across multiple continents. The ultra-rich style statement of the apparel produced by 883 Police has brought global recognition as well as invited the attention of some great celebrity endorsements.
Meanwhile, Trace Network Labs, as one of the leading protocols in the NFT and Metaverse space, introduces lifestyle and luxury to multichain metaverses by enabling brands to create digital avatars of their actual products.
The CEO and Cofounder of Trace Network Labs, Lokesh Rao said, “We are thrilled to onboard 883 Police on the Lifestyle for the Metaverse journey at Trace Network Labs. What I find most interesting in fashion is that it reflects your moment. 883 Police has a rich history and roadmap in creating those perfect moments by making a differentiating fashion statement. It is exciting to bring 883 Police limited edition wearable NFTs to Bling marketplace to further enhance the user experience on various metaverses!”
Trace Network’s Bling NFT Marketplace and 883 Police will soon announce the dates for the action of these specifically designed NFTs for gaming metaverses.
Learn more about 833 Police NFTs on Bling luxury NFT marketplace at  https://medium.com/trace-network/popular-brand-883-police-to-launch-digital-apparel-nfts-in-collaboration-with-bling-4d3f6905b8b0

Iota launches beta smart contracts to foster interoperability

Iota launches beta smart contracts to foster interoperability

The Iota Foundation has announced the release of its beta version smart contract functionality, with the objective to solve market challenges of scalability limitations and high transaction fees, as well as reportedly debuting components not witnessed thus far in the space.Iota’s nonprofit foundation is focused on open-source research and development initiatives to drive adoption in the distributed ledger technology space, alongside its native platform, the Tangle.The smart contract service will foster interoperability and standardization through the integration of Ethereum Virtual Machine; multi-capacity for developers to write program languages with Tiny Go, Rust, and Ethereum’s Solidity; as well as enabling developers to mark unique execution fees, among other features.The latter is a prominent difference from the Ethereum blockchain and could drastically foster the reduction of fees across the network, as the pool of competitors seeking to validate the smart contract increases. Related: Iota Foundation to support EU blockchain initiativeIn March, the platform announced the release of its alpha Iota Smart Contracts Protocol, designed to encourage developers to build smart contracts in addition to decentralized finance (DeFi) and nonfungible token (NFT) applications.Dominik Schiener, co-founder and chairman of the Iota Foundation, told Cointelegraph that the addition of smart contract functionality will “add a vital component to the Iota ecosystem. They allow anyone to build composable and complex dApps using industry standard Ethereum tooling while relying on a feeless base layer and predictable, low execution fees.”“IOTA Smart Contracts also enable the feeless transfer of assets across chains, which offers the IOTA ecosystem — and anyone else interested — unprecedented opportunities in terms of utility, composability, and scalability,” Schiener said.Schiener claimed that Iota smart contracts are unique in that they offer low, predictable, transparent fees, adding: “Smart contract chains enjoy permissionless deployment, without setup fees, auctions, or gatekeepers of any kind. The smart contract execution fees are predictable, non-volatile, and entirely up to the chain owner to set.”“The possibility for chains to compete for the ‘work’ of executing a smart contract creates an additional incentive to push execution fees to their absolute minimum — including zero. Non-zero fees are payable in whatever form the chain owner demands, giving additional flexibility. In a nutshell, it is a DeFi operator’s ‘wet dream’.”

FTX crypto exchange raises $420M from 69 investors

FTX crypto exchange raises $420M from 69 investors

FTX, one of the largest cryptocurrency exchanges in the world, has raised $420 million in fresh funding, bringing its total valuation to $25 billion.The firm officially announced Thursday that FTX’s operator, FTX Trading, has completed a new Series B-1 fundraise involving 69 investors, including Ontario Teachers’ Pension Plan Board and Singapore’s state investment firm Temasek.Other investors included major venture capital firms such as Sequoia Capital, Tiger Global, Sea Capital, Ribbit Capital, Lightspeed Venture Partners, and funds and accounts managed by BlackRock.According to FTX head of product Ramnik Arora, the new funding will help the company further expand its market opportunities across equities, prediction markets, nonfungible tokens (NFT) and videogame partnerships. “We expect to make strategic investments designed to grow the business and expand our regulatory coverage,” he said.FTX founder and CEO Sam Bankman-Fried said that he founded his company with the idea of “creating a better financial marketplace.” “For this round, we capitalized on those strides and were able to partner with investors that prioritize positioning FTX as the world’s most transparent and compliant cryptocurrency exchange,” he added.The news comes shortly after FTX obtained registration for its Bahamian subsidiary in the Bahamas in September. The exchange has been actively involved in the NFT industry recently, announcing the launch of its own native NFT marketplace last month.This article is developing and will be updated.

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