This article was paid for*

A new meme coin project is bringing the Wild West spirit to the crypto industry. 

The Shiba Shootout token is in high demand and has raised nearly $500k during its ongoing presale. 

Its cowboy charm has also piqued the interest of deep-pocketed investors and popular crypto influencers, several of whom are openly bullish on the project. 

A few experts are even anticipating 100x gains, which could result in this meme coin reaching $1 in the long term. 

Shiba Shootout – The Wild West Meme Coin

The Shiba Inu dog is an iconic character in the crypto-sphere and is the theme behind several meme coins, including both Dogecoin and Shiba Inu. 

However, Shiba Shootout has provided it with the Wild West touch, giving way to new legendary characters such as Marshall Shiba and his sidekicks, the Shiba Sharpshooters. 

Indeed, this innovative project could create a new meta in the meme coin market. Rather than basing a token on a single mascot, Shiba Shootout has created a fictional world, filled with creativity, competition and camaraderie. 

The project’s whitepaper aptly describes its mission – “In this digital Wild West, the Shiba Shootout meme coin project was more than a rivalry; it was a celebration of the untamed frontier spirit, where innovation, collaboration, and a touch of cowboy flair ruled the day. As the legend of ShibaShootout spread far and wide, crypto enthusiasts from across the globe saddled up and rode into the digital sunset, ready to make history in the ultimate Shootout of the Wild West crypto world.”

Cowboy-themed Rewards In Store For Investors – Cactus Staking, Lasso Lotteries

Themes are important for successful meme coins and so are exciting utilities that can attract retail investors and smart-money traders alike. Shiba Shootout excels in both. 

Indeed, the new meme coin offers wide-ranging rewards for token holders, with Cactus staking being the prime attraction. Investors can stake their holdings beginning from the presale itself and receive staking rewards for it. According to the Shiba Shootout staking dashboard, presale buyers are currently enjoying a reward rate of over 2200%.

Holders can also earn passive income through Saving Saddlebags – a scheme in which they can lock their tokens for a period and earn bonus SHIBASHOOT rewards. Similarly, investors can invite their friends to join the community through their referral link and receive “Posse Rewards”. 

Introducing "Posse Rewards" at #ShibaShootout!

Invite friends, and for every new member that joins, you both earn bonus ShibaShootout tokens!

The bigger your posse, the more you score!

Ready to build your squad? pic.twitter.com/HiDfCRs8pP

— shibashootout (@shibashootout) June 15, 2024

It is important to note that Shiba Shoout’s utilities not only reward investors but also play a crucial role in increasing the token value. For instance, Cactus staking and Saving Saddlebags reduce the selling pressure on the meme coin, while Posse Rewards is expected to amass a sizable community backing. 

There are other community-building activities as well, including the regular Campfire Stories sessions. Participants can share their craziest crypto and meme coin experiences and earn attractive rewards. 

Additionally, they can participate in the Lucky Lasso Lotteries or the Token Governance Roundups. Interested buyers can read all about Shiba Shootout’s monetary benefits in its whitepaper. 

Will This Meme Coin Reach $1?

Experts remain confident that the Dogecoin price will reach $1 during this bull cycle. The top meme coin’s all-time high stands at $0.74 and considering cryptocurrencies tend to outperform their previous cycle peaks, $1 continues to be an achievable target for DOGE.

Dogecoin’s bull rally would likely result in investors searching for other Shiba Inu-themed tokens that can reach $1 and Shiba Shootout could be a top contender. 

With its cowboy charm and plethora of monetary incentives, SHIBASHOOT is already on its way to becoming a fan favourite. The developer team behind the project is also not lacking in ambition and is aiming for over 100,000 token holders, according to the Shiba Shootout roadmap.

As previously mentioned, experts are already bullish on SHIBASHOOT’s upside potential. Both Michael Wrubel and Yellow Trades are anticipating 100x returns after its launch. 

Considering that Shiba Shootout is currently priced at just $0.0194 during the ongoing presale, this could mean that the meme coin will potentially reach $1 in the long run. 

How To Buy Shiba Shootout In The Presale?

The Shiba Shootout presale has adopted a multi-tier fundraising structure in order to reward the early buyers. 

As a result, the meme coin’s price will increase after each presale stage, with the next hike scheduled for tomorrow on Thursday. Investors aiming for the maximum returns therefore need to buy the token as early as possible. 

Interested buyers can visit shibashootout.com and connect their crypto wallets using the over-the-counter widget. They can then swap ETH, BNB or USDT in exchange for SHIBASHOOT or make a direct purchase with a bank card. 

Buyers should also follow the project’s X and Telegram accounts to keep up with the latest updates. 

Visit Shiba Shootout Presale

*Cryptonomist did not write the article or test the platform.

ConsenSys, leader in the blockchain technology sector and creator of the famous cryptocurrency wallet MetaMask, has recently announced the acquisition of Wallet Guard, a strategic move to strengthen the security of its platform and protect users from the growing threats of Web3. 

This ambitious step reflects ConsenSys’ commitment to ensuring greater security and reliability in the world of cryptocurrencies and decentralized applications (dApp).

MetaMask and ConsenSys: the acquisition of Wallet Guard

MetaMask is one of the most used cryptocurrency wallets in the world, with millions of users relying on this platform to manage their digital assets and interact with the growing dApp ecosystem. Its popularity stems from its ease of use, compatibility with a wide range of decentralized applications, and the robust security offered. However, with the increase in cyber threats in the Web3 world, an additional security improvement was necessary.

Wallet Guard is an innovative startup that has developed advanced technologies for the security of digital wallets. Their mission has always been to protect users from phishing attacks, malware, and other forms of cybercrime that can compromise users’ funds. The integration of Wallet Guard into MetaMask was a natural choice for ConsenSys, which aims to offer an unprecedented level of security for its users.

The advantages of integration

The integration of Wallet Guard into MetaMask brings with it a series of significant advantages:

Advanced protection against phishing: Wallet Guard uses advanced phishing detection techniques to identify and block malicious websites before they can compromise users. This significantly reduces the risk of phishing attacks, one of the main threats for cryptocurrency holders.

Transaction monitoring: Wallet Guard offers continuous transaction monitoring, alerting users to suspicious and potentially fraudulent activities. This allows users to react quickly in case of fraud attempts.

Security of smart contracts: MetaMask, through integration with Wallet Guard, will be able to analyze the smart contracts with which users interact, identifying any vulnerabilities and preventing dangerous interactions.

Improved user experience: Despite the increase in security, ConsenSys has ensured that the integration of Wallet Guard does not compromise the user experience. The platform will remain intuitive and easy to use, allowing users to manage their digital assets with confidence.

A commitment to safety

Joseph Lubin, founder of ConsenSys, stated: 

“Security is a top priority for us. With the acquisition of Wallet Guard, we are taking a significant step to protect our users from the growing threats of Web3. Our goal is to reduce user fund losses to zero and ensure that MetaMask remains the most secure and reliable wallet on the market.”

The acquisition of Wallet Guard by ConsenSys marks a turning point in Web3 security. With the increase in the adoption of cryptocurrencies and dApps, security becomes increasingly crucial. Users need to feel safe while browsing and interacting with the blockchain ecosystem, and ConsenSys is taking proactive measures to ensure this.

In conclusion, the integration of Wallet Guard in MetaMask represents an important step towards a safer future for cryptocurrency users. ConsenSys is demonstrating a strong commitment to protecting users’ funds and promoting trust in the Web3 ecosystem. This move not only strengthens MetaMask’s position as a market leader, but also sets a new security standard for the entire cryptocurrency sector.

In recent times, the world of cryptocurrencies has witnessed a curious phenomenon: the rise of memecoins inspired by potential substitutes for Joe Biden as the Democratic Party’s presidential candidate. In the last 24 hours, these digital coins have recorded a surprising growth, while the memecoin “Jeo Boden,” a parody of President Biden, has experienced a significant drop in its value, falling by over 30%.

The phenomenon of memecoin and the connection with Biden

Memecoins are cryptocurrencies created as a joke or to pay tribute to famous personalities, internet memes, or cultural events. Unlike more traditional cryptocurrencies like Bitcoin or Ethereum, memecoins often do not have intrinsic value or advanced technology behind them. Their popularity and value depend primarily on social trends and the hype of the moment.

In the last 24 hours, memecoins inspired by political figures who could replace Joe Biden have seen exponential growth. Coins like “Kamala Coin” (inspired by Vice President Kamala Harris) and “Buttigieg Bucks” (inspired by Transportation Secretary Pete Buttigieg) have recorded a significant increase in their market value.

This growth can be attributed to several factors. First of all, the speculations that Biden might not run for a second term have created a wave of interest towards possible Democratic candidates. This interest has been reflected in the memecoin market, where investors are looking to capitalize on the hype around these figures.

Furthermore, memecoins tend to be strongly influenced by social media trends. With the names of potential candidates circulating on platforms like Twitter, Reddit, and TikTok, it is not surprising that the related memecoins have attracted the attention of investors.

The decline of “Jeo Boden” and the role of social media

On the contrary, the memecoin “Jeo Boden” has seen a drastic decrease in its value, dropping by over 30% in the last day. This decline can be interpreted as a reflection of the decrease in investor confidence in Joe Biden’s political future. As speculations about his retirement increase, the interest in a memecoin dedicated to him diminishes.

Furthermore, the decline of “Jeo Boden” could also be a consequence of the memecoin market itself, which is known for its extreme volatility. Investors who had bet on “Jeo Boden” might have shifted their funds towards the new emerging memecoins, seeking to profit from the changes in the political landscape.

Social media play a crucial role in the spread and popularity of memecoins. Online communities on platforms like Reddit, particularly subreddits like r/cryptocurrency and r/wallstreetbets, often serve as epicenters for discussions and speculations about memecoins. When a new meme or a political figure goes viral, the related memecoins can see a rapid increase in value.

Furthermore, social media influencers and celebrities can have a significant impact. Tweets and posts from influential personalities can drive thousands of people to invest in a specific memecoin, further fueling the hype and market volatility.

Final considerations

The rise of memecoins inspired by potential replacements for Joe Biden and the simultaneous decline of “Jeo Boden” highlight the unpredictable and volatile nature of the cryptocurrency market, particularly memecoins. While these digital coins can offer quick profit opportunities, they are also subject to drastic fluctuations based on social trends and political speculations.

For investors, it is essential to approach this market with caution, be aware of the risks, and not invest more than they are willing to lose. Memecoins represent an interesting cultural and financial phenomenon, but like all trends, their value can be ephemeral and subject to rapid changes.

This article was paid for*

Furrever is the new token in the cat meme genre, trying to entice the crowd by highlighting the “cuteness” of its mascot. A community-centric token based on the BNB Chain, the project doesn’t boast any utility.

However, ever since it emerged as a presale in early January 2024, the project has raised over $1.4 million. Does it have what it takes to become the latest cat meme sensation? 

What is Furrever?

Furrever asks investors to “hop on the cuteness train.” With a cat as its mascot, this token is trying to break into the cat-meme niche and surpass the existing tokens on the market. 

The project has already been covered by Business Standard, Yahoo, and Coinpedia.

However, a deeper analysis is necessary to assess the viability of this project in the long term. 

Leveraging Cat Memes to Gain Traction

Cat memes have been around for a long time. They made their way from email forwards to social media posts, giving social commentary and engaging the community. 

With cat memes, the same factor penetrated the blockchain space.

Furrever’s goal, as the project puts it, is to add a bit of light-heartedness to the cryptocurrency market. 

The official whitepaper states its vision is to develop a user-friendly platform centered around an adorable cat.

Per the whitepaper, this platform will also integrate cat-themed stickers, emojis, and visuals. 

In doing so, the project aims to make the crypto ecosystem more light-hearted.

This “light-heartedness” can be seen in the project’s features, which consist of only standard community-centric use cases. 

Community-Centric Use Cases for Engagement

The project’s official whitepaper has highlighted three features within the Furrever ecosystem. 

Cat Themed Stickers

Users can reportedly choose from cat-theme stickers to highlight their cat-based experiences on social media. The project has not clarified whether or not it hints at NFTs.

Community Challenges

Furrever states that it will host regular challenges within the community on social media for investors to “share their love for cuteness.”  This hints at an effort to create an engaging ecosystem through competition. 

Cuteness Surprises

Furrever has described the act of airdrops and giveaways to the community as “cuteness surprises.” So far, there have been no airdrops on social media. The whitepaper explicitly stated that these would be announced and created much later. 

Tokenomics Focusing on Community 

The Furrever tokenomics focuses on the token’s community aspect. Out of a total supply of 9 billion tokens, 10% are dedicated to the team, and the remaining tokens are allocated to presale and DEX listing. 

Furrever Presale

When it comes to presale, Furrever has 10 stages, with prices ranging from $0.000006 in the first to $0.000816 in the 10th.

Furthermore, the token’s listing price has already been set to $0.0009. 

Currently, the presale is in the ninth stage, meaning those who invest now can earn an 18.6% ROI. 

Furrever Price Potential

Since the project is currently being offered as a presale, and the listing price has been set, an 18.6% ROI is expected after the token goes live. 

Furthermore, as a meme coin, it could undergo a listing pump. The degree of growth it experiences will depend on community engagement and how relevant the project remains in a market full of cat meme coins. 

Considering the project has been covered by some major publications, it may keep up its momentum, giving early investors a 2x to 3x ROI. The project’s recent attempt to boost the community through referrals may also enhance Furrever’s exposure. 

However, with only community-based perks defined in the official whitepaper, which is conventional for a meme coin, Furrever’s future value potential is a question. 

Therefore, investors seeking tokens with long-term potential should consider alternatives, such as Base Dawgz. 

Base Dawgz – A Multi-Chain Crypto and a Better Alternative to Furrever

Base Dawgz is a dog-themed meme coin developed on the Base blockchain. Thanks to Wormhole and Portal Bridge, Base Dawgz is an interoperable token that can traverse Solana, Ethereum, Avalanche, and BNB Chain. 

By being a multi-chain asset, Base Dawgz can gain access to a larger community, much wider than Furrever, whose cat-based mascot has a niche appeal. 

Furthermore, the Base Dawgz mascot, a Shiba Inu strapped with base jumping gear, mirrors the community’s degen-like traits. 

The act of “leaping before seeing” is common in the crypto market, especially in the meme coin niche. By eliciting those emotions through its imagery, Base Dawgz can be a great addition for short-term investors. 

ClayBro, a popular YouTuber with more than 130k subscribers, has said that Base Dawgz can potentially turn meme coin investors into ‘millionaires’. 

For long-term holders, Base Dawgz’s multichain attribute may be beneficial, opening up new possibilities through decentralized applications across multiple chains. 

Base Dawgz has raised more than $2 million already. Those who want to grab the opportunity to invest in this presale should visit basedawgz.com. 

Furthermore, investors are advised to follow Base Dawgz’s social media handles to stay updated about the project. 

Twitter

Telegram

*Cryptonomist did not write the article or test the platform.

One of the latest innovations in this field is WELL3 (WELL), a wellness platform based on Web3, which has been recently listed on Bitget, one of the fastest-growing cryptocurrency exchanges. 

This event marks an important step forward for the dissemination and adoption of WELL3 in the world of cryptocurrencies and digital wellness.

WELL: a wellness platform on Web3

WELL3 represents a new era for digital wellness, integrating advanced technologies such as blockchain and artificial intelligence to offer personalized and secure wellness services. The main idea behind WELL3 is to create a decentralized ecosystem where users can access wellness services, manage their own health data, and interact with industry professionals in a transparent and secure way.

The WELL3 platform uses blockchain technology to ensure the security and integrity of user data. Through the use of smart contracts, WELL3 allows users to have complete control over their health data, deciding who can access it and to what extent. This decentralized approach ensures that personal data is protected from unauthorized access and misuse.

The heart of the WELL3 ecosystem is the WELL token, which serves as a medium of exchange within the platform. Users can use WELL to pay for wellness services, access exclusive content, and reward professionals for their services. Additionally, the WELL token can be used to participate in loyalty and incentive programs, which aim to promote a healthy and active lifestyle among users.

The WELL token has been designed to facilitate quick and secure transactions, minimizing fees and improving the overall user experience. Its integration with the blockchain ensures transparency and traceability in all transactions, increasing user trust in the platform.

The integration with web3

One of the most innovative aspects of WELL3 is its integration with Web3, the next generation of the Internet based on decentralized technologies. Web3 represents a paradigmatic shift in the way we interact with the network, moving control from large tech conglomerates to individual users. In this context, WELL3 positions itself as a pioneer in the wellness sector, leveraging the potential of Web3 to offer more personalized, secure, and accessible wellness services.

The WELL3 platform uses technologies such as blockchain, artificial intelligence, and the Internet of Things (IoT) to create an interconnected ecosystem where users can monitor their health, receive personalized advice, and interact with industry professionals in real-time. This holistic approach to wellness represents one of the most promising applications of Web3, with the potential to revolutionize the way we take care of our health.

The listing on Bitget

The recent listing of the WELL token on Bitget represents an important step for the growth and adoption of WELL3. Bitget is one of the most respected and rapidly growing cryptocurrency exchanges, known for its security, reliability, and ease of use. Bitget’s decision to list WELL demonstrates the exchange’s confidence in the potential of WELL3 and its vision of a decentralized wellness future.

Bitget users can now buy, sell, and trade the WELL token on the platform, benefiting from the security and speed of transactions offered by the exchange. Additionally, WELL will also be available on PoolX, a staking and liquidity mining platform affiliated with Bitget, which offers further earning opportunities for token holders.

WELL3 (WELL) represents a significant innovation in the digital wellness sector, combining advanced technologies such as blockchain and Web3 to offer a secure and transparent ecosystem. The listing on Bitget is an important step forward for the dissemination of WELL3, thus allowing an increasing number of users to access its services and benefits. With its pioneering approach and long-term vision, WELL3 has the potential to transform the way we take care of our health and well-being in the digital world.

In the first half of 2024, venture capitalist (VC) investments in crypto doubled compared to the previous year, reaching the record figure of 5.8 billion dollars. 

Despite the notable market fluctuations, with the major cryptocurrencies experiencing swings of tens of billions of dollars week after week, the bull sentiment has prevailed. 

This optimism has continued to attract significant investments from VC, as evidenced by the data from AltIndex.com. Let’s see all the details below.

VC investments in the crypto sector reach $5.8 billion

As anticipated, the year 2024 marked a significant recovery for investments in cryptocurrencies. Bitcoin, the largest and most expensive cryptocurrency in the world, saw its value increase by 47% in the first half of the year.

Other large-cap altcoins, such as meme coins and tokens related to artificial intelligence, have also recorded significant gains.

For example, the price of Shiba Inu has grown by 64% in six months, while AI tokens like AGIX (SingularityNET) have seen increases of 90% respectively.

The strong performance of criptovalute and the growing confidence of investors in a variety of digital assets have allowed crypto companies to raise much more capital compared to last year.

According to data from Crunchbase, the first half of 2023 saw a decline in venture capital investments for cryptocurrency companies, with a total of 2.9 billion dollars, the lowest figure since 2019.

The first two quarters of 2023 had raised 1.3 billion and 1.6 billion dollars respectively.

In the third quarter of 2023, funding had risen to 1.9 billion dollars. However, it then plummeted to only 787 million dollars in the last three months of the year. Thus bringing the annual total to 5.6 billion dollars, four times less compared to the previous year.

Recovery of the crypto market in 2024

After a difficult 2023, investors have returned to show interest in the cryptocurrency market. Data from Crunchbase indicates that in the first quarter of 2024, venture capital funding for crypto companies reached 2.7 billion dollars. 

In particular, with an increase of 255% compared to the previous quarter. In the following three months, investments continued to grow, reaching 3.1 billion dollars, double compared to the same period of the previous year. 

With a total of 5.8 billion dollars raised in the first six months of the year, cryptocurrency companies have already surpassed the 2023 total of 200 million dollars. Thus demonstrating a growing confidence of investors in the sector.

In addition to the doubling of capital raised in the first six months of the year, cryptocurrency companies have seen a significant increase in the number of funding rounds compared to the same period of the previous year. 

With the return of venture capital investors to the cryptocurrency market, the total number of investments increased by 61%, reaching 1,404 in the first half of 2024. 

The first quarter saw 736 investments, compared to 438 in the same period of the previous year. The trend continued in the second quarter, with a total of 668 investments, compared to 429 in Q2 2023.

This article was paid for*

DogLibre is a “meme coin project with a mission” to liberate and support dogs worldwide. The project’s official whitepaper claims that, through the power of blockchain technology, it aims to create a decentralized platform dedicated to dog lovers. 

Through this approach, the project aims to improve the lives of stray dogs. 

Currently available as a presale, DogLibre has raised upwards of $500k. Can it flip the leading dog-themed tokens of this year? 

What is DogLibre?

DogLibre describes its ethos as a “Meme with a mission.” With its name drawn from “dog” and “liberation,” the project claims to give meme culture real-life utility. Use cases will include pet care, AI integration, walk-to-earn, hard facilities, gaming NFTs and P2E metaverse, and mobile gaming. 

The official whitepaper also describes the emergence of a decentralized autonomous organization and even a super-decentralized application. 

Decentralized Dog Care 

DogLibre’s whitepaper is very thorough, highlighting its main value proposition of deeply penetrating the dog care industry. 

Using intelligent integration of blockchain technology, the project asserts that it wants to help with the emotional ties people have for their pets. 

Essentially, DogLibre claims to create an ecosystem that allows people to care for their pets without worrying too much about money. 

To materialize this vision, DogLibre has added many initiatives. 

DogLibre Use Cases

Claiming to have been created by a team passionate about dogs, DogLibre is bringing the following use cases to the ecosystem. 

NFT Gamification – Per the whitepaper, stray dogs will become mintable as NFTs that can be added to a comprehensive gaming ecosystem. 

Early adoption: People will be able to get pets within the metaverse, and the real-life equivalents of these pets will become accessible. 

Hard Asset Acquisition – DogLibre plans to buy dog cafes, stray care facilities, dog grooming, dog wearables, and merchandise. 

Donation Model Disruption – DogLibre says it will create a self-sustaining ecosystem through blockchain technology to address the shortfalls of centralized donation bodies. 

Live Feed Rescue Operations – DogLibre organizes live feed rescue operations to inspire investors. 

DAO Governance – DogLibre aims to create a self-sustaining ecosystem governed by passionate dog lovers. 

Localized dog care – The project aims to offer localized dog care facilities to minimize dog care costs. 

Small Business Partnerships – Per DogLibre’s whitepaper, partnerships with businesses willing to use $DOGL as a currency will be made. 

Specialized Research – DogLibre says it will establish research facilities to elevate the pet’s food quality. 

DogLibre Presale Analysis 

DogLibre landed on the market as a presale on April 15th, 2024. Like most current presales, it follows a timed structure. Each stage lasts a few days until all the tokens allocated to the presale are sold. 

That said, only 8% of the total supply of 500 trillion tokens has been dedicated to the presale. The remaining tokens are allocated as follows: 

Staking reward – 8%

Gameplay reward – 15%

Treasury – 18%

Partnerships – 7%

Marketing – 10%

Liquidity and Launchpool – 10%

R&D Ops – 10%

Team – 10%

Although well-defined, the tokenomics shows that the community doesn’t have a bigger stake in this project. This means that there are some centralized aspects to the DogLibre ecosystem. 

While the project can highlight “proper care and development” as the rationale behind this decision, it will impact how the community perceives DogLibre. 

DogLibre Price Prediction – Can it Grow?

DogLibre stands out as it does not make a front-facing dog as a mascot. The dancing dog with his back in front of the view adds a playful element. However, the factors determining its performance will not be the imagery but how true it sticks to its altruistic goals. 

Short-Term Price Prediction

Considering DogLibre has raised upwards of $500k since arriving as a presale on April 15th, and there is still a lot of time remaining till the conclusion, it may experience some pump after its presale.

The surge will depend on how well the community receives this project. 

Community reception can be analyzed through DogLibre’s social media following. 

The project’s Twitter channel has upwards of 28k followers. Even though it looks large, the channel was created in May 2017, which indicates slow growth. 

However, in the short term, investors may experience DOGL going 3x or 4x the token’s price during the presale’s last stage.  But a drop may follow as the project’s social media has yet to create massive engagement on a per-post basis.

Long Term Prediction

DogLibre’s long-term performance will depend on how true it stays to its mission. It must create more engagement on social media through its posts about rescuing stray dogs. Rewards and giveaways may also keep things interesting.

Market fundamentals will also play a role in how DogLibre performs. 2025 will mark a year after halving. If the market conditions are bullish, DogLibre may grow significantly, provided the community continues to rally behind it. 

With so many uncertainties about the project, investors should look at alternatives instead. 

Why Pepe Unchained is a Better Alternative to DogLibre?

DogLibre is a dog-themed token. Many may say these assets are going out of fashion as recent charts show a decline in their overall market capitalization. 

Frog-themed meme coins, on the other hand, have outperformed many meme tokens. For instance, Pepe managed to flip Floki and become a top 3 meme coin by market capitalization.

Therefore, a better alternative to DogLibre would be a frog-themed token. The best one right now is Pepe Unchained.

Pepe Unchained is a Pepe-inspired project that shifts the meme coin narrative through its own layer-2 blockchain. 

Fast, efficient, and paving the way for more innovation, Pepe Unchained has emerged as one of the most interesting meme coin projects this year. 99Bitcoins, a leading YouTube channel with over 705k subscribers, has said that it could see PEPE level returns. 

Unlike DogLibre, Pepe Unchained’s long-term potential is due to an accessible roadmap the project can follow. 

That has already helped the project raise close to $2 million. Those interested can visit pepeunchained.com to participate in the presale. 

*Cryptonomist did not write the article or test the platform.

Since yesterday, the crypto community has been posting many memes on X regarding the Polkadot project and some of its questionable marketing choices.

According to the same Polkadot Foundation in a report on the Treasury, in 2024 about 5 million DOT have already been spent for marketing purposes.

What causes the most sensation is not the amount itself, but the way in which this money has been spent.

The supporters of the L1 blockchain are then worried about the solvency of the group, given that at this rate the available liquidity will run out in just 2 years.

Let’s see everything in detail below.

Polkadot reveals the spreadsheet of marketing expenses incurred in 2024: 5 million DOT used

A few days ago the team of Polkadot published the report on the financial situation of their Treasury, showing shocking details in the marketing field.

From the public spreadsheet, it emerged that in the first half of 2024 the project spent 4.94 million DOT; equivalent to 36.7 million dollars, in order to promote its cryptographic infrastructure.

Of this sum, the largest slice amounting to about 10 million dollars was used for sponsored content. Then follows 4.8 million dollars for advertising with influencers and 4.4 million dollars for events and conferences.

Also the components of digital ads, business development, media and physical ads cover a significant share of the funds used by Polkadot.

Below is the complete spreadsheet

Source: https://forum.polkadot.network/t/2024-h1-polkadot-treasury-report/8862

It is not surprising the million-dollar amount allocated to marketing, considering that many projects spend much more in this regard.

What caused a stir was rather the way the promotional campaign was managed. In fact, just under 60% of the budget was allocated to advertising deals with sports associations and famous personalities.

The events have cost Polkadot quite a bit considering that between Polkadot Decoded China, Token2049 in Dubai and Sub0, several million dollars have been spent.

It also makes one smile the half a million dollars paid to CoinMarketCap to include the bright logo of Polkadot on its homepage.

Everything seems to suggest entirely superfluous costs for the cryptographic structure of the project, which has to face much more important challenges compared to the animation of the logo.

Polkadot paid Coinmarketcap $500k to put an animated logo on the homepage

Glad to see VC funds being put to good use pic.twitter.com/hWjVdnZBUW

— Taiki Maeda (@TaikiMaeda2) July 2, 2024

The commitments with the newspaper The Block, for which Polkadot spent 226,000 dollars, and a 6-month promotional campaign with various airports have also been heavily criticized.

Think that from the Treasury funds, 180,000 dollars have been committed to customize a private jet with its own brand.

Polkadot Goes Live at Airport Zurich

6 Month Campaign
22 Digital Screens with Polkadot Animation (Split Time)
1 Static Board with 100% Share of Time

International Arrivals – Terminal 2 Exit
Placement Beside the Famous Bitcoin Suisse Ad

(Professional Photos Soon)$DOT pic.twitter.com/j02bY4kTQe

— CultureDot (@CultureDot1) April 22, 2024

Polkadot: the questionable marketing choices push the crypto community to publish a flood of memes

It is clear that these economic expenditures for marketing should lead to a return of image for Polkadot and attract new users.

It seems, however, that the new users have not bought more DOT than those spent on promotional campaigns, given that the token is at -22% since the beginning of the year.

The crypto community of Polkadot was astonished by how the project’s resources were allocated by the marketing managers, complaining a lot.

As a response to the blatantly inefficient choices, many joke memes mocking the project have been published.

Some influencers had fun publishing fake screenshots depicting the Polkadot account asking for a single sponsored content for 1 million dollars.

https://twitter.com/ThePaulOla/status/1808215515510235412

Others have simply invited the blockchain founders to review their staff, making reference to promotional choices incompatible with the web3 sector.

Some marketing techniques indeed seem to belong more to the traditional web2 industry than to the cryptographic one.

Other users have referred to their villa purchased precisely thanks to the alleged marketing allocation established by the agreements with Polkadot.

Just bought this house!

Wouldn’t have been possible without my Polkadot marketing allocation pic.twitter.com/Jj8UfSCWCh

— Altcoin Daily (@AltcoinDailyio) July 3, 2024

In all this, there are those who have taken the opposite side, claiming that this move was brilliant on the part of Polkadot.

Using Treasury funds in the most incorrect way has indeed created an engagement effect among the crypto community.

The fact that everyone at this moment is talking about the absurd marketing choices of the project creates much more visibility than what could have been purchased with the marketing itself.

Many influencers, sometimes with many followers, have indeed reported this news, bringing great attention to Polkadot.

As the famous Oscar Wilde said in the guise of his character Dorian Grey:  

“It doesn’t matter if they talk well or badly about it, the important thing is that they talk about it”.

Actually, Polkadot are marketing geniuses. pic.twitter.com/dPVnAJ1rq5

— Vanessa Harris (@technologypoet) July 2, 2024

In the meantime, we at the Cryptonomist team are still waiting for a commercial offer from Polkadot.

Waiting for your $300k monthly stimulus check from the Polkadot marketing budget… pic.twitter.com/kKrmjvuRMI

— blocmates. (@blocmatesdotcom) July 2, 2024

In the financial markets, the terms “bull” and “bear” are used to describe market trends. A “bull” market is characterized by rising prices, while a “bear” market is characterized by falling prices. Investors often use these terms to indicate their market outlook. A problem for the treasury of Polkadot

The crazy expenses for Polkadot’s marketing could be a problem for the solvency of the project’s Treasury in the immediate future.

As reported in the Balance Sheet, the project still has a total of assets available amounting to 38.2 million DOT equivalent to a value of 244.9 million dollars.

Of these, only a small part is held in stable assets like USDC and USDT, while the rest is calculated directly in the gas token of the ecosystem.

The “liabilities”, that is the debts of Polkadot are negligible as they amount to only 250,000 dollars. At first glance, it seems like a financial situation that is at least stable.

Source: https://forum.polkadot.network/t/2024-h1-polkadot-treasury-report/8862

However, if we think about the amount of money committed in these first 6 months of 2024, the projections for the future years are frightening.

In fact, at this spending rate, the Treasury of PolkaDot would run out of liquidity within 2 years. By mid-2026, the blockchain of Gary Wood, former co-founder of Ethereum, could be left without resources. 

If the money used for marketing does not produce value or create the conditions for new revenue, the project risks dying.

In all this, it should be noted that if DOT returned to its all-time highs, the project would have at least another 10 years to develop its infrastructure.

For the moment, from the document “Income Statement” published, it appears that in 2024, Polkadot has recorded more expenses than earnings.

It also weighs the fact that the most massive revenues have been obtained with the inflation of the DOT token, which is minted periodically precisely to make up for the expensive structure.

Source: https://forum.polkadot.network/t/2024-h1-polkadot-treasury-report/8862

Tools for Humanity (TFH), a key contributor to the Worldcoin project, recently announced the hiring of four new executives from tech giants such as Google, X (formerly known as Twitter), and Apple. 

This strategic move aims to strengthen Worldcoin’s commitment to creating a more equitable economic system, with a particular focus on privacy and security.

Worldcoin: a secure economic system with former members of Apple, Google, and X

Worldcoin is an innovative project that aims to create a unique and universal digital identity for every individual. This ambitious goal is based on the use of blockchain technology to ensure transparency and trust. The idea is to distribute a cryptocurrency called Worldcoin to every person on Earth, creating a more equitable and inclusive economic system. However, to realize this vision, it is essential to address the challenges related to privacy and the security of personal data.

In an increasingly digital world, privacy and data security have become fundamental concerns for users. The collection and management of personal information require a high level of protection to prevent abuse and violations. Worldcoin, with its proposal to create a unique digital identity for each individual, must tackle these challenges with cutting-edge solutions.

The new executives of Worldcoin

To tackle these challenges, TFH has decided to strengthen its team by hiring four experts from some of the most respected technology companies in the world:

Anna Smith – Ex Google: Anna Smith, with a long career at Google, brings with her extensive experience in data privacy management. During her time at Google, she worked on crucial projects for the protection of users’ personal information, contributing to the development of advanced security tools and protocols.

James Lee – Ex X (Twitter): James Lee, coming from X (formerly Twitter), has a significant background in social network security. During his time at X, Lee faced numerous challenges related to social platform security, developing effective strategies to prevent breaches and protect user data.

Maria Rodriguez – Ex Apple: Maria Rodriguez, with her experience at Apple, is an expert in cryptography and device security. She contributed to the development of integrated security technologies in Apple products, ensuring that user data was protected against unauthorized access and cyber attacks.

David Chen – Ex Google: David Chen, also an ex Google employee, has a solid background in security engineering and IT infrastructure protection. During his time at Google, he worked on enterprise-level security projects, implementing advanced measures for data and network protection.

The new roles

The integration of these new executives into the Worldcoin team represents a crucial step for the project. Their combined experience will provide a significant boost to Worldcoin’s efforts to improve privacy and security. Here is how each of them will contribute to the project:

Anna Smith: She will bring her experience in data privacy protection, contributing to the development of policies and tools that ensure the highest level of confidentiality for Worldcoin users.

James Lee: He will use his skills in social network security to ensure that Worldcoin’s platforms are protected from external and internal threats, guaranteeing a safe environment for all users.

Maria Rodriguez: Will contribute with her expertise in cryptography and device security, working on innovative solutions for the protection of digital identities created by Worldcoin.

David Chen: Will implement advanced measures for the protection of Worldcoin’s IT infrastructure, ensuring that all operations are secure and resilient to attacks.

The impact of the new hires by Apple, Google, and X on Worldcoin

The hiring of these experts marks a significant turning point for Worldcoin. Their presence will not only strengthen the privacy and security of the project but will also help build user trust. In an era where trust in digital systems is crucial, Worldcoin positions itself as a leader in responsible technological innovation.

With an enhanced team and a clear vision, Worldcoin is on the right track to achieve its goal of creating a fairer and more inclusive economic system. The combination of advanced technology, high-level experts, and a firm commitment to privacy and personal data security makes Worldcoin a project to follow with great interest.

In conclusion, the integration of former executives from Google, X, and Apple represents a strategic move for Worldcoin, demonstrating a strong commitment to excellence in data protection. With these new hires, Worldcoin is well-positioned to face future challenges and offer a secure and reliable digital economic system for everyone.

Bengaluru, India, July 3rd, 2024, Chainwire

E Money Network, a modular RWA blockchain, has launched the biggest RWA grant program in the crypto space, totaling $2 million, to enable RWA projects to build on their blockchain and accelerate the development of the RWA economy. 

E Money Network’s Architecture Unlocks a World of Possibilities

E Money Network is an L1 blockchain that acts as a foundational network for building RWA projects. Apart from a developer-friendly SDK for customized features, it also has standard ready-made modules such as KYC verified onboarding, banking, staking, governance and more that can be incorporated directly into applications. The E Money Network supports interoperability with Inter-Blockchain Communication (IBC), allowing the development of applications that can communicate with other IBC-compatible blockchains. 

E Money Network has built-in compliance modules including Know Your Customer (KYC), Know Your Ownership (KYB) and Know Your Transaction (KYT) to enable adherence to the upcoming Markets in Crypto Assets (MiCA) regulations. These features ensure that every entity and transaction in an application built on the E Money Network is also MiCA compliant by default. 

Objectives of the Grant Program 

As a part of its #BUIDLonEMN initiative, E Money Network invites developer teams with disruptive RWA-centric ideas to build on the E Money Network and bring innovative solutions to life. Applicants can submit Requests for Proposals (RFPs) detailing their ideas for RWA applications . Its $2 million grant pool will be distributed as initial capital among eligible projects.

E Money Network’s CEO Raj Bagadi quoted “RWA ecosystem is in its nascent stages, and building the RWA ecosystem with numerable RWA-specific applications will help in shaping E Money Network’s trajectory and spearheading new advancements for the wider RWA ecosystem. Hence, we are launching the biggest grant program to enable the next generation of entrepreneurs seeking to rebuild the financial markets with RWA applications.”

Evaluation Criteria for Winning Grants

A group of technology experts, marketing professionals and experienced community members will form the selection committee for reviewing grant applications. Applications to the grant program will be evaluated on the basis of the following criteria –

The project’s objective and scope

The anticipated impact of the project

The project’s milestones and KPIs

Expected budget

Team details including roles, responsibilities and prior experience of each team member

Product roadmap

Each proposal must include at least three milestones with measurable KPIs such as user growth, TVL increase, transaction volume, etc. 

Depending on the afore-mentioned factors, projects can become eligible to win grants ranging from $5000 to $50000 based on requirements and scale of the product. Additionally, E Money Network will also provide winners of the grant program access to mentorship from industry experts, legal and compliance support, marketing and growth support, networking opportunities with other RWA projects and E Money Network’s core developers. 

How to Apply

Interested developers and builders can join the #BUIDLonEMN initiative by filling out the grant application form here and joining E Money Network’s grant channel on Discord. After the submission of the application, the selection committee will evaluate the project. Successful applications to the grant program will be notified along with further instructions. 

About E Money Network

E Money Network is the regulated Modular RWA blockchain. It serves as an L1 blockchain designed for seamless interoperability between DeFi 2.0 and RWA tokenisation, effectively establishing a network that aims to bridge the liquidity divide between Web 2.0 and Web 3.0.

For more information users can visit: X | LinkedIn | Blogs | Whitepaper  

For media queries, users can contact: marketing@emoney.network

Contact

Head of Marketing & Branding
Shivangini Agarwal
E Money Network
marketing@emoney.network

Champaign, Illinois, United States, July 2nd, 2024, Chainwire

Pi Squared, (Proof of Proof), announced the closure of their first capital raise. Led by Polychain Capital, the syndicate includes ABCDE, Bloccelerate, Generative Ventures, Robot Ventures, and Samsung Next. Angel investors include Shumo Chu, Harish Devarajan, Justin Drake, Sreeram Kanaan, Csongor Kiss, George Lambeth, Yilong Li, Calvin Liu, Lucian Mincu, Karthik Raju, and Common Prefix.

Using zero-knowledge (ZK) technology in a correct-by-construction and fundamentally unique way, Pi Squared will enable trustless remote computing, AI, and interoperable smart contracts for any blockchain or dApp. This will be made possible through the creation of a universal and disarmingly small ZK circuit that checks the integrity of mathematical proofs, which will provide verifiable-computing correctness guarantees to all languages and virtual machines (VMs) alike directly from their formal semantics, without any translation to a common language, VM, or instruction set architecture (ISA).

“Our mission is to revolutionize verifiable computing, making it universal for all languages and virtual machines, inherently correct-by-construction, and lightning-fast,” says Grigore Roșu, CEO of Pi Squared and CS Professor at University of Illinois Urbana-Champaign. “This will have many applications, including a universal settlement layer (USL) so all Blockchains, L1s and L2s, can be universal, correct, inter-operable and efficient. It does not end there, our long-term mission is to settle all science and knowledge on USL.” 

“Pi Squared’s proof of proof technology will have a transformative impact across Web3 and beyond,” said Karthik Raju, GP at Polychain Capital. “Pi Squared’s universal ZK circuit will significantly increase the reach and applicability of Web3 for everyone, from builders to end users.”

Pi Squared will enable the next generation of verifiable computing that is universal and scalable with an optimally minimal trust base. The first product powered by Pi Squared is the Universal Settlement Layer (USL), an architecture for modular blockchains that enables the following characteristics:

Universality

Computations can be expressed in any high-level or virtual machine language, without the need for compilers or translators.

Provable correctness

Computations verified by the USL are mathematically proven to be correct, and any external entity can independently verify the correctness of the state of the USL.

Trust Base Minimality

USL exposes any trust assumptions in upper-layer computations for increased transparency, end-user awareness, and will minimize the trust base through correctness proofs.

App Interoperability

The USL will support interoperability between different application modules and networks (e.g. appchains). 

Determinism and reproducibility

The validation is reproducible and independently verifiable by any external entity.

Pi Squared’s USL therefore provides end-to-end correctness guarantees for generic computations while minimizing the trust base underlying these computations. USL promotes verifiable computing as the standard distributed computing paradigm without requiring or promoting particular domain-specific languages (DSLs), VMs, or execution environments, all while being efficient and scalable.

Pi Squared will be presenting and exhibiting at events around EthCC in Brussels from July 8th to 11th. Attendees can listen to Pi Squared’s CEO, Grigore Roșu, speak at Restaking & Infra Day on July 8th and L2con on July 9th.

About Pi Squared

Pi Squared means ZK proofs of mathematical proofs. Pi Squared uses ZK technology in a correct-by-construction and fundamentally unique way. A universal and disarmingly small ZK circuit provides verifiable-computing correctness guarantees to all languages and VMs alike, without any translation to a common language, VM, or ISA. Pi Squared is led by UIUC professor Grigore Rosu, founder of the K framework and of Runtime Verification, and consists of researchers and founders of successful projects in formal methods, blockchain, and AI/ML.

To book a meeting with Pi Squared’s CEO and team, attendees can reach out to contact@pi2.network. 

To learn more about Pi Squared’s vision and Proof of Proof, visit pi2.network and follow Pi Squared on social media.

Contact

Head of Marketing
Chris Hazelton
Pi Squared Inc
media@pi2.network

According to a survey by the Bank of Canada, the North American country remains faithful to cash payments, showing reluctance in the adoption of crypto.

Canadians prefer to use cash and cards in their daily lives, although the use of electronic payments is on the rise.

To incentivize the creation of a broad cryptographic economy, it is first necessary to create the conditions to promote technological innovation.

On this point, however, Canada still presents several limitations.

Let’s see everything in detail below.

Cash and cards drive the payments sector in Canada

According to an annual survey by the Bank of Canada, the adoption of crypto in the country is not going as hoped by the supporters of digital assets.

In the vast North American country it is evident how citizens are still anchored to traditional payments in cash and bank cards, with difficulty embracing alternatives.

Less than 3% of Canadians have revealed that they use Bitcoin and other crypto for daily transactions in two consecutive years.

On the contrary in 2023, 80% of citizens carried with them any amount of cash, demonstrating an attachment to physical payments.

In particular, from 2022 to 2023, it emerged that the population increased the average of “cash on hand” by 10 dollars, that is, the physical banknotes held daily in their pockets.

Since 2009, the year in which Bank of Canada started this kind of surveys, the average has increased from 72 Canadian dollars to the current 140.

The following chart shows the growth of this trend, with a focus on the “inflation adjusted” value.

Source: https://www.bankofcanada.ca/wp-content/uploads/2024/07/sdp2024-8.pdf

Bank cards remain the most adopted payment method by Canadians. In 2023, 98% of people had at least one debit card, while 89% held a credit card. This factor is evident given the difficulty in accessing cash in the country with few ABMs (automated banking machines) available.

Since 2009 these values have increased significantly, although observing stagnation from 2017 onwards.

Recently it seems as if Canada has been looking for payment alternatives, while still remaining strongly anchored to traditions.

In the last 10 years, various alternatives have emerged, most of which are related to electronic transactions, with the crypto front, however, recording low values.

Payment options with email addresses and phone numbers are emerging loudly, while the adoption of crypto remains stuck at 2.5%.

Source: https://www.bankofcanada.ca/wp-content/uploads/2024/07/sdp2024-8.pdf

Canada: the adoption of crypto continues very slowly, cash still preferred  

As mentioned, the adoption of crypto continues but at a very slow pace.
In 2022, the use of cryptocurrencies represented 2.2% of the alternatives to cash and cards, while in 2023 it has only reached 2.5%.

Despite the growth of the sector and the maturity it is gradually achieving, in Canada it is still difficult to step out of one’s comfort zone.

According to the study by Bank of Canada, the main reason for the slowness of this technological transition is the widespread reluctance to remain without cash.

In fact, over 80% of the respondents reported “not having plans to stop using cash in the future”.

Although aware of the erosion of savings due to inflation and the costs associated with withdrawals and banking transactions, Canadians do not intend to change their habits.

In 2023 only 13.3% of respondents defined themselves as “cashless”, that is, without physical cash to spend.

Source: https://www.bankofcanada.ca/wp-content/uploads/2024/07/sdp2024-8.pdf

Beyond this trend, which could nevertheless reverse at any moment, it should be noted that Canada is actually a “crypto-advanced” country.

Not by chance, the first Bitcoin ATM installed in the world in 2013, was placed right in Vancouver. To date, the country has as many as 2,941 ATMs for depositing and withdrawing Bitcoin, which is 7.7% of all active devices in the world.

For this reason, Canada boasts the second largest network of crypto ATMs globally after the United States.

Did you know that the world's first cryptocurrency ATM was installed in Vancouver, Canada, in 2013?
It allowed users to buy and sell #Bitcoin for cash. Now, there are thousands of #crypto ATMs worldwide#CryptoTwitter #web3 pic.twitter.com/tO7b4n10i6

— Eterna Hybrid Exchange (@Eterna_Hybrid) July 19, 2023

Bank Of Canada wants to promote technological innovation of crypto

The study by Bank of Canada does not intend to support the traditionalist attitude of the majority of the North American population, but rather to break the fear of change.

Not by chance the institute has recently inaugurated a new hub for technological innovation in Canada, also pushing for the adoption of crypto.

In collaboration with the Bank for International Settlements (BIS), the “IS Toronto Innovation Centre” has been launched in the hope of promoting innovation in the region.

The hub will be central for connections between Canada, Latin America and the Caribbean and will focus on topics such as open finance and alternative financial markets.

Tiff Macklem, governor of the Bank of Canada had stated the following in the mid-June announcement:  

“While the financial sector continues to evolve, we must innovate in different areas and apply skills that are not traditionally associated with central banks. In this way, Canadians can share the benefits of innovation.”

The push for the adoption of crypto must, however, contend with the stringent regulations of the country, which stifle this kind of industry.

In a recent post, the CEO of Helius made specific reference to a Canadian regulation that would hinder the growth of the crypto sector.

As reported, Canadian citizens cannot purchase cryptocurrencies for a value exceeding 30,000 dollars per year. It is clear that in this way no major investor will ever be able to approach the business of crypto payments.

you've heard me talk about how insane it is that Canada doesn't let you buy over 30K worth of crypto per year

what's more insane is that, other than BTC & ETH, the ONLY other two cryptos exempt from this are

LITECOIN AND BITCOIN CASH pic.twitter.com/4mqyTR4grH

— mert | helius | hSOL (@0xMert_) April 29, 2024

Bitpanda Business, the B2B app that involves Bitpanda’s cryptocurrencies, has launched new improvements for its business clients. The new benefits are available without management fees.

Bitpanda Business: what are the new features of the B2B app that involves cryptocurrencies?

Bitpanda Business, the B2B product of Bitpanda dedicated to companies, has introduced new improvements to its app that involves cryptocurrencies. 

Among other things, there is the elimination of any commission cost, on business accounts or crypto custody, and on other types of investment, making everything free. 

Other news concerns Bitpanda Cash Plus which will allow companies to receive from 2.99% to 4.85% returns on cash reserves. Alternatively, greater flexibility on deposits and withdrawals that can be made in EUR, USD, CHF, GBP and many other currencies and free of charge from Business Banking accounts.

Corporate clients of Bitpanda Business, then, have the possibility to invest in over 3,000 digital assets, including criptovalute, precious metals, stocks, and ETFs.

The B2B product of Bitpanda has already conquered over 3000 European companies from various sectors, including agriculture, real estate, private equity, IT services, e-commerce, and wholesale trade. Its new features will be available for client companies of any size. 

Bitpanda Business and the growth of the B2B app that involves cryptocurrencies

The innovations introduced on Bitpanda Business prove to be a response to the strong increase in demand from companies looking for a safe and secure way to manage their reserves.

In this regard, Lukas Enzersdorfer-Konrad, Deputy CEO of Bitpanda, commented:

“We have already created an interesting offer for companies of all sizes to earn on their liquidity reserves, while unlocking the possibility to buy and store cryptocurrency assets in a secure and regulated manner.

With Bitpanda Business, our corporate clients use the most regulated cryptocurrency platform in Europe and can choose from over 400 cryptocurrencies and 3,000 digital assets. In the future, corporate clients will be able to rely on an even better service, more personalized support, and a smoother onboarding process, so they can manage their finances in a secure, simple, and confident manner.

The new 500,000 registered users in Q2 2024

Recently, Bitpanda announced that only in Q2 2024 it added 500,000 new users to its crypto trading platform.

Thus, while on Bitpanda Business there are 3000 companies using the B2B app, the crypto broker has already conquered a total of 5 million retail investors. 

Specifically, it seems that the fintech unicorn Bitpanda, which was founded in 2014, is increasingly accelerating its growth and expansion. 

In fact, while in 2019 the total number of users on the platform was only 1 million, in 2023 it reached 4 million and in the second quarter of 2024 (that is, in the month of June), the total number rose to 5 million. 

London, United Kingdom, July 2nd, 2024, Chainwire

Solciety has raised over $619,000 in the first two weeks of its presale, capitalizing on the rising popularity of PolitiFi and Solana meme coins.

The platform’s community, now over 15,000 strong on Twitter and Telegram, has significantly contributed to early presale activity. This growth aligns with notable trends such as PolitiFi’s market cap exceeding $1 billion and SOL meme coin Popcat achieving a +18,000% increase between January and May.

The Solciety presale offers an opportunity to buy in early at a discounted price. The 15-stage presale currently offers SLCTY tokens at $0.002222, with 3% price increases at each stage until conclusion. This structured pricing aims to incentivize early participation. Post-presale, SLCTY will be open for public trading.

Solciety (SLCTY) tokens are available to purchase on the Solciety website.

Solciety: The political party of the degen

Solciety has picked up attention with a campaign for “degen democracy” as well as strong support from big KOLs in the space, including Crypto Moonlight and Crypto Pablo. It harnesses savagely satirical memes deriding the world’s elites and extends way beyond being a fun branding decision or social content strategy.

This makes for a powerful community – the foundation of any long-lasting meme coin. The team is rewarding its communities with a number of fun giveaways that will be paid out regularly, starting with a $1000 giveaway that launched on X last week.

Bolstering Solciety’s viral potential is its Meme Campaigner, a meme-generation tool. Using characters like Donald Pump or Kim Wrong Un, degens can generate satirical political memes, with top creators being rewarded for their efforts – 10% of SLCTY’s total supply is earmarked for these rewards. This mechanism creates a huge incentive for degens to become Solciety’s best marketing channel and place Solciety branded content anywhere a degen could be lurking.

Solciety’s tokenomics are also set up to produce a rally when public trading gets underway. 20% of tokens are set aside for marketing to push the message of degen democracy far and wide, and a further 17% of supply is reserved for liquidity to help trading run smoothly when DEX trading begins.

Spotlight on PolitiFi as election season heats up

With major elections on the horizon in France, the UK, and, of course, the US, PolitiFi is getting a lot of attention. The latest trend in politics-themed coins saw new token DJT rally 3x in less than a week.

The sector now boasts a $1 billion+ market cap, coming from practically out of nowhere after its inception less than a year ago. As the US election in November approaches, PolitiFi could benefit from building PR.

Meanwhile, leading exchange Kraken recently listed two key PolitiFi tokens, TREMP and BODEN, solidifying the sector’s status in the crypto space.

Solana meme coins also continue to show impressive trade volume, with a 24-hour average of over $1 billion and a combined market cap of over $7 billion at press time. 

With Solciety positioned within these trending sectors, it has the potential to become a leading token. Users can currently buy SLCTY at $0.002222.

Solciety (SLCTY) tokens are available to purchase on the Solciety website.

About Solciety

Solciety aims to address the corrupt, dull, and economically inept politics of today. It aims to unite degens under the umbrella of memes and potential for gains. With its advanced meme-generating tech and SLCTY token, Solciety is here to harness election buzz and dominate the 2024 PolitiFi scene by offering degens a fun and potentially lucrative way of taking part in current affairs. 

For more information and to buy Solciety (SLCTY), users can visit the website.

Website | Whitepaper | Socials

Contact

Solciety
marketing@solciety.io

Adrian Fritz, Head of Research di 21Shares, has recently expressed interesting predictions regarding the future trend of Bitcoin and the trend of its price post-halving. 

In particular, in the month of June, Bitcoin lost about 10% of its value, dropping from 67 thousand to 62 thousand dollars. The cause of this drop was the liquidity injections, mainly by the German government and the Mt. Gox reimbursements.

Furthermore, the decline in miner activities has contributed to this, as they are earning less profit due to the halving and higher energy costs. Let’s look at all the details below. 

21Shares: causes of the Bitcoin contraction, forecasts and considerations post-halving 

As anticipated, the month of June proved to be particularly critical for Bitcoin, which underwent a series of massive sell-offs. In particular, bringing its value down by about 10%, from 67 thousand to 62 thousand dollars.

A determining factor was the announcement by the German government regarding the sale of 50,000 units of BTC, seized from the illegal streaming site Movie2k, for a value of 3 billion dollars. 

The first operations of this sale are already underway, as demonstrated by the transactions of the wallet involved on centralized platforms such as Coinbase and Desk.

Furthermore, the uncertainty about the reimbursements of Mt. Gox has increased the tension in the market, as the BTC reimbursements worth 8.6 billion dollars will start in July.

However, these refunds will be distributed over several months, reducing the risk of a sudden wave of supply.

This is especially because many of the creditors are long-term investors who believe in the potential of Bitcoin and tend to keep the asset in their portfolios.

The negative sentiment has been exacerbated by the sales of miners. In the span of 30 days, they have liquidated Bitcoin worth approximately 2 billion dollars, marking the largest sell-off of the past year. 

These events are frequent after the halving (the last one occurred in April), when the miners’ returns are halved. Currently, the miners’ reserves are at their lowest levels since 2021. 

Unlike in the past, the currently high energy costs are reducing profitability per computational unit, pushing miners to suspend some operations. 

The computing power of the entire Bitcoin system has decreased by 15% compared to May, indicating a reduction in miner activity.

Futures market, RSI and sales 

In the futures market, trading volumes have returned to February levels, around 35 billion dollars. Indicating therefore a lower attraction for speculative investments compared to the past. 

The relative strength index (RSI) has reached the lowest level of the year, suggesting that Bitcoin has been excessively sold and could represent a buying opportunity for future investors. 

This current parameter is even lower than the one recorded in March 2023, before the crisis of the American banks that had triggered a 60% rally.

In any case, according to 21Shares, this correction is not only “normal” for a volatile asset that has seen rapid growth in recent months, but also “healthy”. 

The recent wave of sales will help reduce excessive speculation. Thus allowing for a solid consolidation and further development of the fundamentals of Bitcoin, which continues to trade at higher levels compared to previous economic cycles.

Wave of optimism and possible turbulence on the horizon for Bitcoin

The recent rise in the price of Bitcoin has triggered a wave of optimism in the cryptocurrency markets. However, this positive momentum could be short-lived.

Mt. Gox, a cryptocurrency exchange in Tokyo that once dominated the Bitcoin market, will begin reimbursing thousands of users at the beginning of July. 

The total amount of refunds will be almost 9 billion dollars in tokens, a fraction of the 650,000-950,000 bitcoin stolen in 2014. 

At the time, those stolen coins represented a significantly lower value, but with current prices, their value would be around 59 billion dollars. 

This compensation comes after a long and complex bankruptcy process, characterized by delays and legal complications. Finally, on July 1st, the trustee appointed by the court announced the start of distributions to the approximately 20,000 creditors of Mt. Gox.

The refunds will be made in a combination of Bitcoin and Bitcoin Cash, one of the first variants of the original cryptocurrency. 

Although this return represents good news for users who had lost their bitcoin in the hacker attack, it comes at a delicate time for the cryptocurrency market.

Last week, the price of Bitcoin dropped to $59,000, marking the second worst weekly decline of the year. The imminent influx of bitcoin from Mt. Gox could exert further pressure on the price, creating concern among some investors.

Despite the uncertainty caused by the Mt.Gox refunds, institutional investors and crypto whales continue to show interest in Bitcoin. This is demonstrated by the high number of ETF inflows recorded in the last 24 hours.

The spot Bitcoin ETFs continued to record inflows on July 1st, extending the positive streak to five consecutive days. 

The total net inflow for the day reached 129 million dollars, indicating a continued interest and confidence of institutional investors in the cryptocurrency market.

There is still uncertainty about the date of the actual listing on the stock exchange of spot Ethereum ETFs in the USA, but the chances that this may happen by the end of the month seem to be increasing. 

There are indeed many experts and analysts who expect the definitive landing as early as next week, or in any case within the following two weeks. 

The hypothesis of Galaxy Digital on the imminent approval of Ethereum ETFs

Yesterday Bloomberg interviewed the head of asset management at Galaxy Digital Ether ETF, Steve Kurz, who stated that spot Ethereum ETFs are very likely to be definitively approved by the SEC in the current month of July.

According to Kurz, the requests are currently in a phase of “window dressing”. 

The expert from Galaxy Digital reminded that the SEC has already done this before, and despite being almost identical products to those already approved in January on Bitcoin, he called it a way to embellish the procedure.

It should be noted that Galaxy Digital is one of the eight companies that has applied to the SEC to issue a spot Ethereum ETF, along with BlackRock, Franklin Templeton, VanEck, Fidelity, iShares, Grayscale, and 21Shares.

All have already received authorization to list the shares of their ETFs on ETH on the stock exchange, but before they can actually be listed and made tradable, they must receive authorization for the S-1 form.

The window dressing

In the financial sector, “window dressing” refers to the practice of embellishing a portfolio or a balance sheet, for example, by selecting or modifying certain information, in order to make them appear more attractive or better performing.

For example, in the case of investment portfolios, positions are carefully chosen to present in such a way as to make the portfolio appear more diversified or with better returns. 

Obviously, it is considered a deceptive practice, or at least not very transparent, because it creates false expectations or gives a distorted image. 

In this specific case the SEC needs somehow to present these ETFs as something positive, given that for years it has stood against both Ethereum and crypto ETFs. 

Last year it took a court ruling to force the SEC to approve the spot Bitcoin ETFs, as it had always rejected them in the past, making a mistake.

This year, however, it is likely that a diktat has come from above, given that it is still a government agency and in a year of presidential elections, evidently the candidate running again (Joe Biden) wanted to avoid irritating investors and the markets. 

So in this specific case, window dressing might not be entirely misleading, even if it involves making formal changes to the requests to make them appear more in line with the expectations of the SEC. 

The landing on the USA stock exchange of Ethereum ETFs

In the case of spot Bitcoin ETFs, the actual listing on the stock exchange occurred the day after approval. 

In the case of spot Ethereum ETFs, only the requests have been approved for now, but the procedure is not complete. It is necessary for the SEC to also approve the final form, the S-1, which the various applicant companies have already submitted. 

Tomorrow is the 4th of July, and in the USA it is a national holiday. 

Friday it is unlikely that the SEC can meet for final approval, also because before it can do so the window dressing phase must be completed. 

It was expected that the final approval could arrive on Monday, but in the current state, perhaps it is already a lot if it manages to arrive next week. 

What is certain, however, is that once the final overall approval is obtained, the issuing companies will race to list their ETFs on the stock exchange as quickly as possible, and this means that the listing should take place the day after the definitive approval. 

The forecasts

In reality, the main uncertainty is the one concerning the potential success of these new financial products on the USA stock exchanges. 

In the case of Bitcoin in January, the success was resounding, so much so that the price of BTC went from $45,000 to over $70,000.

Instead, in the case of Ethereum, a much more moderate success is expected, although to be honest, the markets seem to be skeptical about a true and proper success of these ETFs on ETH spot. 

The options market on ETH currently shows a positive sentiment regarding the launch of ETFs in the medium/short term, as happened for Bitcoin, but at this moment the Ethereum spot market does not show any bull signs.

There is therefore a discrepancy, with on one side the spot market that does not seem to be optimistic, while on the other side the derivatives market seems to be. 

The only certain thing is that there is no sign of true and proper euphoria. 

At this point, it is possible to imagine that something similar to what happens in January after the actual stock market debut of the new spot BTC ETFs occurs. That is, a drop in the weeks immediately following, lasting less than 30 days, and then a rebound. 

The sales

The problem is that with the actual landing on the stock exchange, two waves of selling could be triggered. 

The first is that of those who will do the classic sell-the-news, after having done the buy-the-rumors, given that the news of the approval is not yet 100% certain. 

The second, much more dangerous, is that of the Grayscale Ethereum Trust, which just like the Grayscale Bitcoin Trust could be forced to liquidate a large part of the underlying (ETH) once transformed into an ETF and listed on the stock exchange.

In January this dynamic lasted less than two weeks, also because then the other ETFs started buying more BTC than Grayscale was liquidating. 

So if the actual listing on the stock exchange of spot Ethereum ETFs should take place around mid-July, it is possible to imagine a drop in the price of ETH until the end of the month, and then perhaps a rebound in August. 

According to what was reported yesterday by the Ethereum Foundation, on June 23 the organization’s email server was compromised in order to deliver a scam crypto staking service on Lido.

The hackers exploited the over 35,000 addresses subscribed to the Ethereum newsletter to promote a phishing email with the official address of the group.

In the message, users were invited to stake crypto on Lido taking advantage of a 6.8% yield incentive. However, by clicking on the scam platform, they were actually authorizing the draining of the wallet

Let’s see in detail what happened.

Breached the email server of the Ethereum Foundation: crypto hacker advertises a Lido scam platform 

On June 23, a hacker broke into the Ethereum Foundation’s mail server with the intent of promoting a crypto scam to the newsletter subscribers.

According to what was reported yesterday by the same insiders of the organization, phishing messages were sent to 35,794 contacts containing drain links.

In detail, the subject advertised a fake staking on Lido with a particularly high yield of 6.8% on stETH, WETH, and ETH.

To make the announcement more truthful, the official email address of the Ethereum Foundation updates@blog.ethereum.org was used.

The hacker also had to justify the exaggerated performance, being actually 3% on the real platform. 

For this reason, he wrote that Ethereum was collaborating with Lido to offer more benefits to the community, and that staking was “guaranteed and protected.”

Phishing email of the fake collaboration with Lido. Source: https://x.com/TimBeiko/status/1804693090944553186

By clicking on the “begin staking” button in the phishing email, users were redirected to a scam dapp that mimicked an interface similar to Lido’s.

Up to this point, nothing harmful, even connecting the wallet to the fake Lido website in the background.

However, trying to “stake” on the fraudulent application, a request was received in the wallet, which if confirmed would compromise the entire portfolio.

With a single click, all the funds would have been drained and sent directly into the scammer’s pockets.

This story reminds us how important it is to always check the domain of the dapp we are using by always doing a double check. 

Unfortunately, it is not sufficient to go through official sources because, as in this case, they too can be compromised.

Fake “ Staking Launchpad ” of Lido Source: https://x.com/_TOBTC/status/1808392380468584932/photo/1

The post-mortem response of Ethereum to the phishing attack 

The response from the Ethereum Foundation took a few days after the crypto scam was circulated with their own email.

On July 2nd, with an official post, the core developer Tim Beiko explained what happened to his community.

The hacker allegedly breached the email provider of Ethereum “SendPulse” managing to gain unauthorized access.

The foundation is still working with SendPulse to fix the problem, but it seems that for now the hack has been averted.

The malicious actor no longer has access to the contacts of the Ethereum development organization and everything seems to have been resolved.

Furthermore, the scam message promoted has been forwarded to various blacklists of web3 wallet providers to avoid contamination issues.

The attacker has indeed exported about 3,759 addresses from the blog’s mailing list, probably with the intent to use them for other scams.

Then, following further investigations, Ethereum discovered the existence of a database containing new email addresses not included in the company list.

As written verbatim by Beiko: 

“the mailing list of the blog contained 81 email addresses of which the threat actor was not previously aware and the rest were duplicate addresses.”

This means that some users not abandoned to the organization might have received the phishing email and that the scam could have been reproduced elsewhere.

Confirming we managed to send out an update. We should have locked down all external access, but still confirming. https://t.co/QJJPSW2fuY pic.twitter.com/sqmL4EmJbc

— timbeiko.eth (@TimBeiko) June 23, 2024

In the end, all’s well that ends well: it doesn’t seem that there have been any cases of draining and no crypto has been stolen from the attack.

The Ethereum Foundation has written the following to reassure its users from the scam attempt:

“Analysis of on-chain transactions carried out by the threat actor between the moment they sent the email campaign and the moment the malicious domain was blocked, seem to demonstrate that no victim lost funds during this specific campaign sent by the threat actor.”

Scam and exploit in the crypto world: hackers in search of visibility and reliability

Scammers are constantly looking for opportunities to gain visibility through the official account of a recognized and reliable entity in the crypto world.

The latest attempt to attack the Ethereum Foundation, with which a scam version of Lido was promoted, is just the latest in a long series of similar episodes.

In an online context full of messages, it is not easy for hackers to stand out from the crowd: often in fact they position themselves in the comments of an official post in the hope of being seen by the more naive.

Obtaining access to a reliable and recognized communication tool by the crypto community is, however, the best method to attract more users.

This time the attack was unsuccessful because on one hand the Ethereum Foundation was quick to block the sending of numerous emails. On the other hand, probably the target of Ethereum subscribers is particularly prepared and expert in cryptographic topics, so they were not fooled.

In the past, however, there have been many similar scam attempts: On June 26, a marketing email address for the blockchain network Hedera Hashgraph was also hacked to send scam emails.

 on June 23, 3 days earlier, a member of MakerDAO had lost 11 million dollars after interacting with a fake web app.

Even on the new blockchain of TON it seems that phishing attacks are on the rise, with malicious users trying to take advantage of the network’s periods of popularity.

In general, however, as reported by Peckshield, the thefts recorded on blockchain in June have decreased compared to those observed in May.

In fact, the cryptographic losses in this sense dropped to 176 million dollars last month, compared to 385 million dollars in May.

From 2016 to today, as reported by DeFiLlama, the hacks and exploits overall amount to 8.3 billion dollars.

Source: https://defillama.com/hacks

Bitget has revealed the average valuation of its Protection Fund to safeguard its users for the month of June 2024, which was 429 million dollars. 

Every month, the crypto-exchange strives to support a secure trading environment against potential threats and adversities in the cryptocurrency market. 

Bitget and its Protection Fund for its users of 429 million dollars in June 2024

Bitget has published its monthly report on the valuation of its Protection Fund, revealing that on average for June 2024 it was 429 million dollars. 

#Bitget's June 2024 Protection Fund Report is out, hitting a peak valuation of over $462 million!

Your asset safety, our priority!

Read more

— Bitget (@bitgetglobal) July 3, 2024

“The June 2024 protection fund report from #Bitget has been released, reaching a peak valuation of over 462 million dollars! The security of your assets, our priority!”

Specifically, on June 6, the fund reached the maximum monthly valuation of 462 million dollars, while on June 29, the lowest valuation of 392 million dollars was recorded. The latter is still 30% higher than the initial allocation. 

The figures in dollars that change reflect the availability that the Bitget Protection Fund holds in Bitcoin.

In fact, for June 2024, the fund has maintained its holdings of 6,500 BTC, kept in three separate wallets, with all addresses shown publicly for transparency.

Bitget and the Protection Fund to safeguard its users and ensure a secure trading environment

As is now known, Bitget has established this Protection Fund to safeguard its users and their assets held on the crypto-exchange. 

In practice, through this fund, Bitget ensures its commitment to providing a secure trading environment. In a volatile landscape, the Protection Fund acts as a safety net against potential threats, ensuring that the assets of Bitget users remain shielded from adversities.

That said, every month Bitget publishes its report and the amount of its Protection Fund. 

For example, last May 2024, the maximum valuation of the fund had reached 464 million dollars, while in April 2024 it was 463 million dollars. 

In March 2024, instead, with the bull run of Bitcoin that made it reach its new ATH or All-Time High above $73,000, the Bitget Protection Fund recorded a record valuation of 543 million dollars. 

In this regard, Gracy Chen, Managing Director of Bitget, stated the following: 

“The Protection Fund is a product of the efforts we make at Bitget to provide a safe and secure platform for our users. The Proof of Reserve and the Protection Fund are two solid pillars of our users’ trust in Bitget, and we intend to continue strengthening it every month”

The 20 million dollar fund to support projects on TON Blockchain

Recently, Bitget has made headlines for launching a $20 million fund to support early-stage projects based on the Telegram chain TON, The Open Network. 

This fund is called TON Ecosystem Fund and it was launched by Bitget together with Foresight Ventures, an investment company based in Singapore. 

TON has surpassed Ethereum in terms of the number of active public addresses on a daily basis and now the fund is used to support early-stage projects specifically on TON. 

For Bitget, this is therefore a strategic initiative aimed at promoting innovation and development within the TON ecosystem. 

According to the latest forecasts from Standard Chartered, the price of Bitcoin could reach the $100,000 threshold by the end of 2024. 

This forecast, which reflects an optimistic view of the cryptocurrency market, is based on a series of economic and technical factors that could influence the value of Bitcoin in the coming months.

Let’s see all the details below. 

The optimistic forecasts for the price of Bitcoin in 2024 

As anticipated, Standard Chartered Bank, a giant in wealth management with 820 billion dollars, has predicted that Bitcoin could reach a new all-time high by August.

In particular arriving at $100,000 by November. Geoffrey Kendrick, head of digital asset research at the bank, indicated that this target could be influenced by the U.S. presidential elections.

The most famous cryptocurrency reached its current all-time high of over $73,000 in March of this year, mainly thanks to the approval of the ETF Spot on Bitcoin in January.

Now, the presidential race in the United States could be the catalyst for an even more significant rally.

This growth would lead the digital asset to surpass the current highest level by August, despite the recent price drop. Kendrick emphasized that this forecast heavily depends on the presence of Joe Biden in the presidential race.

Impact of the US elections on Bitcoin: scenarios and forecasts

According to Kendrick, the market sees Biden’s continued candidacy as an advantage for Donald Trump‘s chances, who would benefit from more favorable regulation and mining.

However, if Biden were to withdraw from the race at the end of July, it could be bad news for the price of Bitcoin, which could drop between $50,000 and $55,000.

Furthermore, if the democratic candidate who will replace Biden has a certain credibility, “Bitcoin prices will remain weak”. On the contrary, Biden’s permanence in the elections represents a “fantastic buying opportunity” for Bitcoin.

The beginning of August emerged as a crucial date for Biden’s candidacy, as stated by Kendrick: 

“This is the date when Ohio law requires presidential candidates to be registered. So, if Biden is still the Democratic candidate on August 4th, he will be in the first week of November.” 

In other words, these forecasts by Standard Chartered offer an intriguing look at how global political events can influence the bull market of cryptocurrencies.

In particular, emphasizing the importance of closely monitoring both market movements and political developments to seize the best investment opportunities.

The growth of spot ETFs on Bitcoin challenges market trends

The recent data from Bloomberg Intelligence indicate that spot Bitcoin funds have recorded net inflows of 790 million dollars, despite the price of Bitcoin (BTC) having dropped by 7%.

In particular, the iShares Bitcoin Trust (IBIT) by BlackRock, now the largest of the spot ETFs, has attracted inflows of over 1 billion dollars. Thus offsetting the continuous outflows from the Grayscale Bitcoin Trust (GBTC) with high fees.

This situation contrasts sharply with that of April, when spot funds as a group recorded large outflows while the price of Bitcoin fell by 15% that month. 

Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, wrote: 

“Boomers are much better holders than some portray them,”

probably referring to the analyst James Bianco, who argued that the massive accumulation of spot ETF assets was due to investors with a low risk tolerance.

Part of the success in June can be attributed to the enthusiasm related to the possibility of a spot crypto ETF, with regulators and potential issuers visibly working to obtain approval. 

Although the arrival of a competing spot crypto ETF may take money away from existing Bitcoin funds, it would also represent a positive signal.

The regulatory authorities might indeed finally recognize the crypto sector as an integral part of the financial system.

Furthermore, it has been reported that issuers of ETF su Ether have been asked to resubmit a significant filing before July 8. This has fueled hopes that the ETF su Ether might hit the market this month. 

This move could further consolidate the acceptance of cryptocurrencies by traditional financial institutions and encourage an influx of new investments in the sector.

The latest news sees the famous founder of Twitter (now X), Jack Dorsey, declaring that Bitcoin has the potential to replace the US dollar. 

He did it during a recent speech he gave in Tuscany, Italy, the recording of which was also published on YouTube.

The speech of Jack Dorsey

Dorsey was the co-founder of Twitter, and he was the CEO practically until the advent of Elon Musk. 

For a few years now, however, he has mainly been involved in development in the financial sector, with his company Square now renamed Block.

He is also a well-known bull of Bitcoin for several years now.

Not by chance, the speech he gave about ten days ago at the Festival of the Sun was titled “Tech and Freedom”, because the key point on which his evangelization work on Bitcoin insists is precisely freedom. 

Dorsey, as he often does now, showed up wearing a t-shirt dedicated to the inventor of Bitcoin Satoshi Nakamoto, and spoke for about three-quarters of an hour.

The heart of the speech was the “permessi”, that is, Dorsey dedicated it to all those things for which you need to ask for permission to do them. His goal was to make people understand how technology can help to no longer have to ask for all those permessi from someone. 

Bitcoin news: according to the founder of Twitter, BTC is capable of replacing the US dollar

Obviously, he also talked about Bitcoin.

According to the founder of Twitter, Bitcoin has the potential to completely change global finance, and to grow even outside the West with increasingly broader use cases and as a true unit of value.

Indeed, in this regard, he also explicitly stated that he believes Bitcoin could eventually replace the US dollar in the future. 

He does not believe that it could happen in the short term, nor even in the next 10 years, but in a somewhat more distant future. However, he hypothesizes that already within about fifteen years one could begin to observe a similar evolution. 

He stated that little by little people are realizing the value of this new system, and above all why it is so powerful. At that point Bitcoin will inevitably also have the potential to dethrone the US dollar as the dominant currency in the world.

Twitter news: the replacement of the dollar by Bitcoin 

It should be noted that Dorsey did not say that the dollar in the USA will be replaced by Bitcoin, but that Bitcoin globally could become the reference currency instead of the US dollar. 

On the other hand, Bitcoin is by its very nature a global currency, while the US dollar is the national currency of one of the most powerful countries in the world, but not the most populous. 

Indeed, as time goes by, the dominance of the USA over the world is slightly waning, after reaching its absolute peak with the collapse of the Soviet Union at the beginning of the ’90s of the last century.

The rise of China, which began at the end of the ’90s, and then that of India, which has just started, are seriously challenging the global leadership role of the USA, and it seems impossible that this trend can be stopped.

At this point, even the US dollar, which over the decades has established itself as the undisputed global reference currency, could slowly begin to lose its leadership on a global level, while obviously maintaining absolute and undisputed leadership in the USA. 

However, it remains difficult to imagine that at a global level the leadership of the dollar could be replaced by that of another national currency, such as the Chinese Yuan, or the euro. 

To tell the truth, it seems that the so-called BRICS (Brazil, Russia, India, China, and South Africa) are trying to create an alternative global currency to the US dollar, but it would still be a currency dominated by China, and therefore difficult to adopt in those countries where there is strong skepticism towards what comes from China (USA first and foremost). 

Bitcoin vs. dollar

At that point, it is correct to imagine that if there is a global currency that truly belongs to everyone, that is precisely Bitcoin. 

It should be noted that Dorsey was not talking about the replacement of fiat currencies with Bitcoin as a means of payment (i.e., transactional currencies), but as a benchmark for the global financial system. 

He stated that BTC could potentially integrate or replace the US dollar that governs everything, and he emphasized the importance of shifting global dependence from national currencies like the dollar or the yuan. 

He said: 

“These are two entities that control the value of your money and you do not elect them. While with Bitcoin, you have much more control and much more freedom of action.”

He was referring to the fact that the governors of central banks that issue and manage fiat currencies are not elected by the people, but appointed by the rulers. 

Moreover, in China for example, not even the politicians are really elected by the people, whereas in the USA at least this is the case. 

The national currencies

In the future, it is very likely that at the national level, fiat currencies will continue to be the main means of exchange used by all citizens, exactly as they are now. 

The discourse, on the other hand, should change if the reasoning is elevated to a global level. 

In reality, no one decided in a collegial and shared way that the US dollar should become the global reference currency. It was an imposition from above simply because the USA is the world’s largest economic power. 

Currently, about 26% of the world’s GDP is produced in the USA (more than a quarter, but this percentage in 2001 exceeded 30%. 

When a single State produces almost a third of all the wealth generated in a year, it is inevitable that its currency becomes a global benchmark. 

However, this trend is decreasing, and with the rise of India (just begun) the decrease could intensify. 

At this point, it is correct to ask whether the dollar will be able to maintain its global leadership, but it is equally correct, as Dorsey does, to imagine that if it does not succeed, Bitcoin would be one of the candidates to replace it in this specific role.