Unstoppable Domains and Blockchain.com Partner for DNS-Enabled Web3 Domain
Unstoppable Domains and Blockchain.com have announced a collaboration to create a DNS-enabled Web3 domain. The initiative aims to integrate Web3 domains into the traditional web ecosystem through an application with the Internet Corporation for Assigned Names and Numbers (ICANN).
Unstoppable Domains and Blockchain.com Collaborate on DNS-Enabled Web3 Domain
Unstoppable Domains and Blockchain.com plan to submit the “.blockchain” domain for ICANN’s upcoming six-year registration program. If approved, this domain would join established top-level domains like .com and .org. The collaboration seeks to bridge the gap between Web2 and Web3 domains, leveraging Blockchain.com’s large user base and transaction history to foster adoption.
“We are thrilled to partner with Blockchain.com on this ambitious venture,” Sandy Carter, COO of Unstoppable Domains remarked in a press release sent to Bitcoin.com News. “Our alliance is poised to start with a Web3 domain to test and deliver a low-cost solution. This is a step towards ensuring we can plan and strategize for the upcoming ICANN work.”
The .blockchain domain is designed to offer a low-cost, integrated naming solution for businesses, cities, and localities, building on Unstoppable Domains’ existing initiatives. The companies emphasize that their partnership is a strategic step towards a user-focused web, with the potential to introduce more Web3 domains alongside their traditional counterparts.
What do you think about Unstoppable Domains and Blockchain.com partnering? Share your thoughts and opinions about this subject in the comments section below. #Write2Earn

SEC Chair Gensler: Spot Ether ETFs 'Will Take Some Time' to Begin Trading

U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler has stated that spot ethereum exchange-traded funds (ETFs) “will take some time” to commence trading, highlighting the necessity for a thorough disclosure process. Additionally, Gensler emphasized the lack of proper disclosure provided by crypto exchanges to investors.
Spot Ether ETFs ‘Will Take Some Time’
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, addressed several issues, including compliance challenges in the cryptocurrency industry and the approval of spot ethereum exchange-traded funds (ETFs) in an interview with CNBC on Wednesday.
“In January, we approved an exchange-traded product on bitcoin, and about a week and a half ago, similar filings to list on the New York Stock exchange, list on Nasdaq, and the like, exchange-traded products on ethereum,” Gensler said. “Ethereum had been traded on the Chicago Mercantile Exchange [CME] futures for three plus years and the staff looked at that closely and that was approved .” The SEC chief added:
Now the underlying exchange-traded products still need to go through a process to have the disclosure about that. That will take some time but they’re working on that right now.
Last month, the SEC approved Form 19b-4 filings for eight spot ether ETFs. Nonetheless, the funds’ S-1 filings (registration statements) must also receive approval before they can commence trading.
During the interview on Wednesday, Gensler also raised concerns about the crypto sector’s lack of compliance and proper disclosure. “In the crypto markets, they aren’t giving you that disclosure,” he stressed, emphasizing that crypto exchanges must be “regulated to prevent fraud and manipulation,” and must ensure “they don’t trade against you.” Gensler cautioned:
These crypto exchanges … are doing things we would never allow this New York Stock Exchange to do. Our laws don’t allow you to trade against your customers.
“And so you’ve seen the bankruptcies in this space, and … some of the most leading lights in this field are either in jail about to go to jail or waiting extradition,” the SEC chairman concluded.
What do you think about SEC Chair Gary Gensler’s statements regarding spot ether ETFs and the issues surrounding the crypto industry? Let us know in the comments section below. #Write2Earn

Investor Confidence Soars With $488M Inflows Into US Bitcoin ETFs

On Wednesday, U.S. spot bitcoin exchange-traded funds (ETFs) saw inflows amounting to $488.1 million, with Fidelity’s FBTC leading the way. These inflows marked the 17th consecutive day of contributions from the 11 publicly traded funds.
U.S. Spot Bitcoin ETFs See More Inflows on 17th Consecutive Winning Day
U.S. spot bitcoin ETFs have been enjoying a winning streak for 17 consecutive days, with $488.1 million in positive inflows recorded on Wednesday. This followed Tuesday’s record-setting inflow of $886.6 million. Leading the pack on Wednesday, Fidelity recorded $221 million, and as of June 6, 2024, FBTC holds 173,715.33 BTC, valued at approximately $12.37 billion.
Blackrock’s IBIT attracted around $155 million, bringing it close to holding 300,000 BTC. At press time, IBIT commands 297,643.72 BTC, worth $21.20 billion. Following FBTC, inflows came from ARKB, BITB, GBTC, HODL, and BTCO. The funds’ BRRR, EZBC, and BTCW experienced neutral flows. Ark Invest and 21Shares’ ARKB fund has surpassed the 50,000 BTC mark, holding about 50,303 BTC.
Currently, ARKB’s bitcoin reserve is valued at $358 billion based on current BTC exchange rates. Bitwise’s BITB fund now holds 38,106.02 BTC, worth $2.71 billion. GBTC’s $15 million inflow brings the Grayscale fund to approximately 285,458.14 BTC, currently valued at $20.36 billion. During Wednesday’s trading sessions, the ETFs recorded $2.08 billion in trade volume.
The continued strong inflows into U.S. spot bitcoin ETFs underscore a burgeoning confidence among investors, heralding a potentially transformative era for these cryptocurrency investments. With FBTC and other funds consistently attracting significant capital, the sustained interest could signal a shift toward a more retail-focused financial embrace of bitcoin.
What do you think about the spot bitcoin ETF action on Wednesday? Share your thoughts and opinions about this subject in the comments section below. #Write2Earn

Gold Rush: Long Lines to Purchase Bullion in Vietnam

Local reports indicate that lines of several dozen people are waiting to purchase gold bullion from various state-owned banks in Vietnam, primarily in Hanoi and Ho Chi Minh. The interest in buying the precious metal at this time seems to be driven by the lower prices these banks offer to retail investors, in line with the Central Bank of Vietnam’s objective of aligning domestic gold prices with global ones.
Investors Endure Long Lines to Buy Gold Bullion in Vietnam
Vietnamese investors are showing an increasing interest in gold. According to local reports, long lines of people interested in acquiring gold bullion were observed in different branches of banks in Hanoi and Ho Chi Minh. The investors, counted in the dozens, were hoping to take advantage of the direct sale of gold from four state banks in Vietnam, including the Saigon Jewelry Company (SJC), Agribank, Vietcombank, BIDV, and Vietinbank.
The gold rush ensued as the central bank announced that it would sell gold directly to these banks to offer it to the general public. This move is expected to lower domestic gold prices that recently reached historic highs compared to foreign market prices. Prices for a tael (37.5g) of gold reached $3,620 last month in Vietnam, and since then, prices have come down to $3,107, with banks allowed to sell each tael with a 1.2% discount over market prices.
The bank is currently investigating the source of this imbalance, with officials stating that there might be illicit factors behind it. However, other reports state demand has increased as the Vietnamese dong loses value.
People interviewed while waiting in line stated that they were buying gold as an asset, believing that gold prices would maintain their stability over time. In the foreign market, gold prices have seen a significant rise this year, driven by geopolitical affairs and the increasing demand from central banks seeking to diversify their reserves.
Predictions indicate that gold prices will reach even higher numbers. Jim Rickards has forecasted that gold prices will touch $27,000 levels by 2026, updating its previous prediction that set gold at $17,000 levels by that same year.
What do you think about the increasing gold demand in Vietnam? Tell us in the comments section below. #Write2Earn

Associate Professor Rejects Alleged Link Between Nigerian Currency Depreciation and Crypto Trading

Nigeria’s decision to halt naira trading on cryptocurrency exchanges is likely to worsen matters for its volatile currency,” an associate professor at the University of East London has argued. The associate professor said Nigeria can effectively regulate the cryptocurrency industry through a framework introduced by its securities regulator in 2022.
Crypto Trading Not Linked to Naira Depreciation
An associate professor at the University of East London, Iwa Salami, has stated that Nigeria’s attempt to halt naira trading on cryptocurrency exchanges will likely exacerbate issues for the local currency. Salami also refutes the official Nigerian narrative that global cryptocurrency platforms contributed to the naira’s depreciation.
In her recently published opinion piece, the associate professor argues that while crypto has been associated with money laundering and drug trade, it has never been directly linked to the devaluation of national currencies, as alleged by the Nigerian government. Instead of completely banning crypto trading, Nigerian authorities should consider a more balanced regulatory approach, according to Salami.
“Nigeria needs a balanced approach to regulation if the industry is to thrive without harming financial and monetary stability. A stable financial system is capable of allocating resources efficiently and managing financial risks. The approach must protect consumers and investors,” Salami argued.
Associate Professor Favors Regulation Over Ostracizing Cryptocurrency Exchanges
As widely reported by several publications, including Bitcoin.com News, Nigeria has cracked down on cryptocurrency trading platforms. Authorities blame these platforms for the naira’s rapid depreciation earlier in the year. The West African nation specifically singled out Binance and has since filed several charges, including tax evasion allegations, against the crypto exchange giant.
However, in her opinion piece, Salami argues that Nigerian authorities can still achieve their objectives by regulating rather than ostracizing cryptocurrency exchanges. Using a regulatory framework established by the Nigerian Securities and Exchange Commission in 2022, authorities can request that exchanges disclose the identities of crypto wallet holders linked to suspicious activities, she said.
The associate professor suggests that if all global regulators were to adopt international standards for crypto asset activities, such as the Financial Stability Board’s recommendations, the concerns raised by Nigerian authorities could be easily resolved.
What are your thoughts on Iwa Salami’s recommendations to Nigerian authorities? Share your views in the comments section below. #Write2Earn

Edward Snowden on NYSE Trading Halts: ‘Bitcoin Fixes This’

On Monday, the New York Stock Exchange (NYSE) encountered a series of unexpected trading halts affecting stocks such as Chipotle and Berkshire Hathaway. Berkshire shares plummeted 99.7%, while Chipotle’s stock fell 66%. In response to the event, renowned whistleblower Edward Snowden took to social media, asserting that “bitcoin fixes this.”
NYSE Disruptions Trigger Stock Falls; Crypto and Blockchain Advocates Call for Change
The NYSE, the largest stock exchange globally by market capitalization, experienced multiple trading interruptions on Monday. The exchange, owned by Intercontinental Exchange (ICE), attributed these pauses to the “Limit Up/Limit Down” guidelines. The disruptions led to significant declines in “dozens” of stocks, including major companies like Warren Buffett’s Berkshire Hathaway and Chipotle Mexican Grill.
The NYSE faced significant criticism on social media. Experts in the Web3 space, such as those at Linkpool, suggested that traditional exchanges should transition to blockchain infrastructure. “Global markets cannot afford API errors and technical glitches that entirely pauses market operations,” Linkpool said. “In order to achieve refined financial markets, a robust blockchain-agnostic architecture is needed to ensure capital markets have access to accurate, secure, real-time financial market data.”
Additionally, Edward Snowden, the American whistleblower and former National Security Agency (NSA) contractor took to the social media platform X and stated:
Bitcoin fixes this.
Snowden’s comment was in direct response to the trading halts on the NYSE and it suggests that he sees its underlying technology as a solution to the vulnerabilities and centralization in traditional financial systems. It is well known that Bitcoin’s decentralized nature eliminates the need for a central authority that can fail, as seen in the technical issues that halted stock trading on Monday.
The decentralized ledger used by Bitcoin enables continuous and transparent operations without a single point of failure, theoretically reducing the risks of similar disruptions. Following Snowden’s comment, several of his followers agreed with the statement. “Can’t halt Bitcoin,” the crypto exchange Kraken replied to Snowden’s X post. “Actually, Chainlink fixes this,” a LINK supporter wrote to Snowden.
Another individual added:
Bitcoin fixes this but Roaring Kitty broke the stock market — LOL.
What do you think about the NYSE halts and Edward Snowden’s comments about Bitcoin fixing the situation? Share your thoughts and opinions about this subject in the comments section below. #Write2Earn

Study: Half of Surveyed Germans 'Imagine Using a Digital Euro as an Additional Payment Option'

A new report has found that half of Germans who participated in a survey study can “imagine using a digital euro as an additional payment option.” However, the study also revealed that some three-quarters of the respondents view the “aspect of privacy in connection with the use of the digital euro as very important or important.”
Nearly 60% of Respondents Were Unaware of the Digital Euro
According to a survey study commissioned by the Deutsche Bundesbank, many Germans are open to the idea of the digital euro. The survey, which involved 2,012 German residents, found that half of the respondents could “generally imagine using a digital euro as an additional payment option.” This sentiment also applies to Germans who were previously unaware of the digital euro.
The study revealed that 41% of participants had heard, read, or seen information about the digital euro, while 59% indicated lacked awareness of it. However, privacy concerns were prevalent among most respondents.
“More than three-quarters of respondents rated the aspect of privacy in connection with the use of the digital euro as very important or important. Of those surveyed, 59% stated that the planned offline version of the digital euro, which is intended to provide a level of privacy protection similar to that of cash, was very important or important,” the study report stated.
Respondents Highlight Privacy Concerns
Despite these findings, Joachim Nagel, the Bundesbank President, claimed that Eurosystem central banks have no interest in users’ data. Nagel added that the eurozone digital currency “would protect people’s privacy far better than current commercial payment solutions.”
Meanwhile, the study also found that some respondents (15%) believed that the digital euro was intended to replace cash, while 12% thought that cash would be abolished once the digital euro became functional. Only 17% were aware that digital currency would serve as “an additional means of payment and will be issued by the ECB [European Central Bank] or the Bundesbank.” Some 16% of the respondents believed the digital euro to be a cryptocurrency.
According to a press release, the Eurosystem, the monetary authority of the euro area, will only be able to determine when to introduce the digital euro after EU legislators create the necessary legal basis.
What are your thoughts on these findings? Share your opinions in the comments section below. #Write2Earn

Central Bank of Qatar Announces CBDC Project

The Central Bank of Qatar recently announced the completion of the infrastructure development supporting an in-house-built CBDC. The bank estimates that the project will enter its experimental stages this year in October, allowing several national and international banks to test the functionality of this pilot by facilitating large payments among them.
Qatar Announces CBDC Experimental Pilot Project
More countries are interested in issuing their central bank digital currencies. The Central Bank of Qatar recently announced the completion of the development stages for its central bank digital currency (CBDC) infrastructure. According to official news reports, Qatar’s CBDC project will serve “to keep pace with the rapid global developments in this field.”
The project seems to be a wholesale CBDC, as the bank announced it will start to test the implementation of this development in October 2024 with national and international banks, testing transactions of large payments in a trial environment.
Qatar’s CBDC pilot will focus on institutional adoption, mentioning increased access to capital markets for banks operating in the country, enhancing domestic settlement, and improving the efficiency of securities transactions as the objectives of this project.
This move is part of a national strategy involving new technologies like blockchain and artificial intelligence (AI) to enhance Qatar’s liquidity in financial capital markets, considering information security aspects. The results of this upcoming experimentation phase will be considered in identifying the main use cases that the central bank will adopt to enhance the current capabilities of the Qatari financial system in the future.
Before, the bank had made statements regarding its exploration of digital banks and central bank digital currencies. In 2022, Alanood Abdullah Al Muftah, the head of the bank’s fintech division, clarified that the bank would study these elements, but stressed that the decision to issue a CBDC was still being considered and would not be taken until after examining all the circumstances surrounding it.
What do you think about the Central Bank of Qatar’s CBDC pilot announcement? Tell us in the comments section below. #Write2Earn

Hong Kong Police Advisory Group Warns of Surge in Digital Asset-Linked Crime

The Hong Kong Technology Crime Police Advisory Group has warned about the rise of digital asset-linked crime, calling for the establishment of a regulatory system to identify and eliminate risks associated with this tech. According to police data, almost $550 million was involved in digital asset crimes during 2023, with 90% of these cases involving fraud schemes.
Hong Kong Police Consultancy Group Calls to Reduce Digital Asset Crime
Digital asset-linked crime has experienced a resurgence in Hong Kong. The Hong Kong Technology Crime Police Advisory Group, a consultancy group comprised of 12 experts in the technology sector, has issued an alert about the increase in digital asset crime. According to police data, Web3-related crime grew from 2,336 cases in 2022 to more than 3,415 cases in 2023. Almost $550 million was involved in these crimes, with 90% involving fraud scams.
The team, created back in 2022, recently had its fifth meeting where it categorized these crimes into two classes. The first involves using different techniques to push victims to transfer anonymized digital assets into the criminals’ wallets. This makes it difficult for authorities to trace the identity of the users behind these wallets due to the traits of this kind of crypto asset.
The second kind of fraud has to do with investment scam schemes, given the popularity of cryptocurrency as an investment. These crimes involve fooling investors by promoting fraudulent digital asset-based investment schemes.
This situation has caused the public to associate the “blockchain” and “Web3” terms with these crimes, creating a stigma that links even legal industries to illegal schemes. The group suggests that to fight this perception, public awareness must be raised on the issue of digital assets.
In addition, the group calls to establish a regulatory system capable of identifying and reducing the risks related to criminals leveraging digital assets, as well as fostering a climate to allow the development of blockchain and Web3 industries in a legal and compliant manner.
What do you think about the recommendations of the Hong Kong Technology Crime Police Advisory Group? Tell us in the comments section below. #Write2Earn

India Repatriates 100 Tonnes of Gold From UK, Aims to Move More

According to local media reports, the Reserve Bank of India has repatriated 100 tonnes of gold that was held in the vaults of the Bank of England. The operation, carried out in special circumstances due to the quantity of gold moved, may be repeated as India seeks to hold more gold domestically for logistical reasons and diversified storage.
India Repatriates 100 Tonnes of Gold Held by the Bank of England
The Reserve Bank of India (RBI) has repatriated 100 tonnes of gold previously held in the U.K., in the vaults of the Bank of England. Reports from the Times of India indicate that this operation is the first of its kind since 1991 when a similar amount had to be moved abroad due to a crisis in the foreign payments balance.
Given the large amount of bullion being moved, the operation involved a logistic challenge. Transportation had to include a special permit for the gold to be moved across customs, and specialized aircraft and security had to be implemented.
The repatriated gold will now be held in the RBI vaults on Mumbai’s Mint Road and Nagpur. A source from the bank indicated that this was part of a process that reviews the bank’s holdings and examines the storage possibilities for these assets. “Since stock was building up overseas, it was decided to get some of the gold to India,” a bank official stated.
According to another bank source, this shows how India has improved its economic and financial standing compared to several years ago. The source stated:
It shows the strength of the economy and the confidence, which is in sharp contrast to the situation in 1991.
Official sources stressed that a similar transaction to move roughly the same amount of gold might repeat in the coming months, as India seeks to hold more of its gold holdings domestically.
Countries like Venezuela faced difficulties repatriating gold assets before. The nation is currently embroiled in a legal battle with the Bank of England as the institution has denied control of these assets to Nicolas Maduro’s administration.
What do you think about repatriating 100 tonnes of gold to India? Tell us in the comments section below. #Write2Earn

Google Partners With Magic Leap to Bolster the Potential of Augmented Reality Technologies

One of the leaders in the augmented reality industry, Magic Leap, announced on May 30 that it had partnered with Google to enhance the potential of augmented reality technologies. This new collaboration aims to release unique product offerings while further expanding the longstanding relationship between the two companies.
Magic Leap’s Optics Expertise Combined With Google’s Technology Platforms
Magic Leap, an early pioneer in the Augmented Reality (AR) industry, recently entered into a strategic technology partnership with Google. This collaboration will see the two companies combine Magic Leap’s AR expertise and leadership in optics with Google’s technology platforms.
According to a statement, the new partnership aims to unveil unique product offerings. It also expands the long-standing relationship between the two companies.
Shahram Izadi, Vice President and General Manager of AR/XR at Google, expressed excitement about the collaboration. He said:
We look forward to bringing together Magic Leap’s leadership in optics and manufacturing with our technologies to bring a wider range of immersive experiences to market. By combining efforts, we can foster the future of the XR ecosystem with unique and innovative product offerings.
For her part, Julie Larson-Green, the Chief Technology Officer at Magic Leap, described the partnership as a step likely to accelerate what she called the transformative power of augmented reality (AR) by piggybacking on the two companies’ expertise. Larson-Green also revealed that Magic Leap is looking forward to “expanding the potential of extended reality (XR) – blending the physical world with valuable, contextually relevant solutions.”
As explained in the statement, Magic Leap has made groundbreaking advancements in the areas of text legibility, color fidelity, and rich visuals. These advancements have empowered it to create devices that run customized applications, boasting some of the highest computational performance capabilities among standalone AR products available in the market.
What are your thoughts on Magic Leap’s partnership with Google? Share your views in the comments section below. #Write2Earn

Ethereum Technical Analysis: Bulls Face Critical Resistance at $3,900

Ethereum’s price over the past hour has been $3,785 to $3,816, showing an intraday range between $3,746 and $3,837 in the last 24 hours. The crypto’s market capitalization today stands at $458 billion, with a 24-hour trade volume of $10.75 billion.
Ethereum
On the 1-hour chart, ethereum demonstrates strong support at $3,750 and resistance at $3,842. The recent spike in volume corresponding with a significant upswing indicates strong buying interest. Ether’s price oscillation between $3,750 and $3,840, followed by a slight pullback from the resistance at $3,842.5, suggests a potential retracement.

The 4-hour chart reveals broader support at $3,700 and resistance at $3,885. Lower trading activity is indicated by relatively lower volume compared to the 1-hour chart. The price has shown an upward movement from the support at $3,700 to the resistance at $3,885, with consolidation around the $3,800-$3,840 range.

On the daily chart, ethereum shows a strong support level at $2,813 and resistance at $3,980. Volume spikes during significant price movements highlight the rally from the support at $2,813.4. The overall trend has been bullish, with a notable uptrend from $2,813 to around $3,980. The recent consolidation below $3,980 suggests the potential for either continuation or reversal.
Oscillators present a mixed yet slightly bullish picture. The relative strength index (RSI) at 64.9 and the Stochastic at 75.0 both indicate neutral conditions, while the commodity channel index (CCI) at 52.2 and the average directional index at 41.7 also remain neutral. However, the momentum at 85.7 and the moving average convergence divergence (MACD) level at 170.2 both suggest a bullish signal, indicating positive momentum and potential for further price increases.
All moving averages (MAs) signal optimism, supporting the bullish trend. The exponential moving average (EMA-10) at $3,752 and the simple moving average (SMA-10) at $3,797 both support short-term bullish sentiment. Similarly, the EMAs (20, 30, 50, 100, 200) and the SMAs (20, 30, 50, 100, 200) consistently indicate buy signals across different time frames, further reinforcing the positive outlook for ethereum.
Bull Verdict:
Based on the technical analysis, ethereum demonstrates a strong bullish trend supported by critical moving averages and key support and resistance levels. Positive momentum indicated by the MACD and momentum oscillators, along with buy signals across all MAs, suggests potential for continued upward movement. Strategic entry and exit points aligned with volume analysis further enhance the bullish outlook for ethereum.
Bear Verdict:
Despite the overall bullish indicators, caution is warranted due to the neutral readings from several oscillators and the recent consolidation below key resistance levels. If bearish downturns or volume decreases appear near resistance levels, it could indicate a potential retracement. Monitoring these signals and setting stop-losses is advisable to mitigate downside risk.
What do you think about ether’s market action on Monday? Share your thoughts and opinions about this subject in the comments section below. #Write2Earn

Mexican Billionaire Ricardo Salinas Urges Followers to Buy Bitcoin as Nigerian Naira Falls Under a Satoshi

Ricardo Salinas Pliego, one of the wealthiest billionaires in Mexico, has urged his followers to purchase Bitcoin as a hedge against the devaluation of fiat currencies. Salinas Pliego recommended purchasing bitcoin in response to a social media post reporting on the fall of the value of the Nigerian naira under a satoshi.
Mexican Billionaire Ricardo Salinas Pliego Advises to Buy Bitcoin to Shield From Fiat Devaluation
The top 1% is starting to realize the opportunities that bitcoin, as a financial asset, can bring as a hedge for fiat currency devaluation. Ricardo Salinas Pliego, a Mexican entrepreneur with a fortune worth over $14 billion and owner of Salinas Group, has recommended its followers on X to purchase bitcoin and take advantage of its constant appreciation in value.
Commenting on a social media post describing how the value of the Nigerian naira fell under a satoshi, Salinas Pliego stated:
Buy Bitcoin and save it, pay attention!!!
The Nigerian official currency has been facing a rough period, becoming the worst-performing currency against the U.S. dollar in May. This has prompted a series of measures from the Nigerian government to try stabilizing the currency, cracking down on crypto operators to force them to withdraw it from their platforms, and accusing them of currency manipulation.
However, these measures have not stabilized the currency’s value, which remains in constant decline.
Salinas Pliego was further asked which exchange-traded funds (ETF), stocks, and cryptocurrencies he would recommend as an investment option. He answered “bitcoin,” showing his faith and trust in the investment aspect of the cryptocurrency.
Salinas Pliego, famous for his anti-state stance, has favored bitcoin and bitcoin-linked policies in Mexico. In 2021, he declared his allegiance to Bitcoin, stating that it “had extraordinary properties,” and describing it as “gold for the modern world.” At that time, he explained he was working for Banco Azteca, his bank, to be the first institution to accept bitcoin in Mexico.
Also, in 2022, he reported that Elektra Group, a chain of department stores owned by Salinas Group, might start selling bitcoin as merchandise.
What do you think about Ricardo Salinas Pliego’s advice? Tell us in the comments section below. #Write2Earn

New York Tightens Customer Service Regulations for Crypto Companies

The New York State Department of Financial Services (DFS) has introduced new guidance mandating regulated cryptocurrency entities to implement customer service policies and procedures. Crypto entities must collect data to ensure timely and fair resolution of issues, maintain records for regulatory review, and provide quarterly analyses.
New York Regulator Requires Crypto Firms to Adopt New Customer Service Guidelines
New York State Department of Financial Services (DFS) announced Thursday that Superintendent Adrienne A. Harris has issued “guidance regarding customer service requests and complaints.” The guidance requires DFS-regulated virtual currency entities (VCEs) “to maintain and implement effective policies and procedures to promptly address customer service requests and complaints,” the announcement details, adding:
The guidance requires VCEs to collect relevant data so that the Department can assess whether they are resolving customer service requests and complaints in a timely and fair manner.
“Today’s guidance reflects DFS expectations of VCEs regarding customer service policies and procedures, including channels or mechanisms, response and resolution monitoring, and reporting,” the DFS added. “The guidance requires licensees to maintain for Departmental review records of their own policies and procedures, as well as quarterly analysis of requests and complaints they receive. Through examinations and supervisory monitoring, the Department will assess the application of these policies and procedures as well as their efficacy.”
The announcement also highlights several key policies and procedures from the guidance. They include offering phone and electronic text options for submitting requests and complaints, providing regular updates and estimated resolution timelines, publishing FAQs accessible without login, tracking requests and complaints with customer satisfaction feedback, and reporting quarterly on the number and nature of requests and complaints along with resolution times. Additionally, entities must provide a copy of their customer service policies, align with the described standards, and specify responsible individuals for overseeing these policies.
What are your thoughts on the New York State Department of Financial Services’ issuance of customer service guidance for cryptocurrency firms? Let us know in the comments section below. #Write2Earn

Nigerian Artist Davido’s Meme Coin Plummets Shortly After He Pockets $474,000 From Token Sale

Nigerian artist Davido has been accused of perpetrating an “outright scam” after pocketing over $468,000 from selling his recently launched meme coin. A prominent Nigerian crypto enthusiast claims Davido’s actions create problems for many legitimate crypto businesses and startups operating in good faith.
Davido Offloads Meme Coin Hours After Promoting It to Followers
The Nigerian musician and celebrity, Davido, stands accused of orchestrating another pump-and-dump scheme after his latest crypto token surged by 200% before plummeting 56% just an hour later. According to a report, the Nigerian celebrity purchased 203 million DAVIDO or 20.3% of the token’s total supply using seven SOL tokens. Davido subsequently sold 121.88 million of these and pocketed a profit of 2,791 SOL (approximately $474,000).
The Nigerian singer, known for his substantial social media following, reportedly launched the token on May 29 using the meme coin launchpad Pump.fun. He actively promoted the meme coin to his followers before offloading millions of it on May 30.
In July 2021, Bitcoin.com News reported that Davido vigorously promoted the so-called deflationary token rapdoge, encouraging his followers to buy it. The token’s value briefly surged by 100% before returning to pre-promotion levels. Prior to that, Davido also promoted another token, racksterli, which suffered a similar fate.
An ‘Outright Scam’
Meanwhile, reports that Davido may have offloaded the meme coin just before it crashed sparked a furious reaction from Nigerian crypto enthusiasts, who have branded the celebrity a scammer. Rume Ophi, a prominent crypto and blockchain educator, strongly criticized the Afrobeats superstar Davido for perpetrating an “outright scam.”
Hours before the meme coin’s spectacular collapse, Ophi had informed Davido’s followers who purchased the token that they were likely victims of the singer’s latest crypto scam.
“If you bought the $DAVIDO meme coin expecting to cash out profits, I’m here to tell you that you were outright scammed by Davido himself. This is textbook behavior for a crypto rug pull scam,” Ophi, who is also known as the cryptopreacher, warned.
Ophi noted that if U.S. citizens also invested in the meme coins, there is a distinct possibility that U.S. regulators would pursue Davido. In addition to his troubles, Davido’s token event is likely to cause issues for “many legitimate businesses and startups operating in good faith across our crypto markets.”
As the backlash over his latest “pump and dump scheme” continued to unfold, a South African online publication revealed that Davido was vacationing in Cape Town. The publication also shared pictures of Davido as he toured the city.
Do you agree that Davido’s promotion of his meme coin amounts to a pump-and-dump operation? Share your opinions in the comments section below. #Write2Earn

Transak and Cometh Launch Industry-First Fiat-to-Layer 3 Crypto Onboarding Solution

Transak, a Web3 payments provider, has teamed up with blockchain development platform Cometh to introduce a streamlined fiat-to-Layer three (L3) onboarding solution. This new system reportedly simplifies the purchase of crypto assets directly on Cometh’s L3 blockchain, Arbitrum Orbit.
Transak Partners With Cometh to Simplify Fiat-to-L3 Crypto Transactions
According to the company’s announcement, Transak and Cometh‘s partnership marks a significant advancement in simplifying crypto asset transactions on layer three (L3) blockchains. The integration enables users to buy ethereum (ETH) on Muster, Cometh’s Arbitrum Orbit platform, without dealing with crypto and gas tokens.
By automating interactions directly at the protocol level through Transak One and the Web3 development platform Cometh’s smart contracts, the solution eliminates the need for intermediate steps like token bridging, significantly cutting down transaction times.
According to Steven Goldfeder, co-founder and CEO of Arbitrum’s development firm Offchain Labs, the collaboration “simplifies [the] user experience, unlocks mainstream adoption potential, and showcases the power of building innovative solutions on Arbitrum’s scalable infrastructure.”
Goldfeder added:
It marks a significant milestone in the growth of our Layer 3 ecosystem.
Before this integration, users had to navigate a multi-step process involving purchases on a Layer 2 solution and subsequent bridging to Muster, which was cumbersome and time-consuming. Transak says users can now directly purchase cryptocurrencies using credit cards on Muster, making entry into non-fungible token (NFT) marketplaces and other blockchain interactions a whole lot faster.
What do you think about Transak’s and Cometh’s partnership? Share your thoughts and opinions about this subject in the comments section below. #Write2Earn

Analyzing Tether's 111 Billion Supply: Top USDT Wallets on Tron and Ethereum
This year, the supply of the stablecoin tether has surpassed the $100 billion mark, and today, the leading dollar-pegged token boasts a market valuation of $111.9 billion. The majority of this supply resides on Tron, with the network hosting $58 billion in tethers, while Ethereum accounts for $51 billion. This editorial examines the top wallets on both networks and identifies the largest tether holders today.
The Distribution of Tether’s 111 Billion Supply on 2 Major Networks
While there are 111.9 billion tethers in circulation, the bulk of them are on the Tron and Ethereum networks. Currently, Tether’s transparency page reports over 109 billion tether (USDT) are hosted across both blockchains. Data from etherscan.io reveals that 5.73 million unique addresses hold USDT on Ethereum, whereas tokenview.io shows Tron has 43.47 million addresses holding tether. Binance, the world’s largest crypto exchange by trade volume, possesses a significant amount of Tron-based tethers.
Binance controls the largest tether wallet on the Tron network, with 9.12% of the total supply stored in its cold wallet. As of this week, Binance holds 5.36 billion TRC20-native tethers in that wallet. Binance also manages the second, third, and fourth largest Tron-based USDT wallets. The second-largest wallet holds 6.80% of the supply, the third holds 3.9%, and another Binance address holds 3.68% of the USDT supply on Tron. The Tether Treasury wallet ranks as the fifth-largest Tron-based USDT holder with 1.11% or 655,364,163 tethers.
Interestingly, Binance also owns the sixth-largest Tron-centric USDT wallet. On Ethereum, Binance is the largest holder of ERC20-based USDTs. The Binance wallet secures 5.6 billion Ethereum-native tethers, accounting for 10.78% of the supply. The second-largest holder is Arbitrum One, which holds 4.6% of the supply, valued at $2.39 billion. Below Arbitrum, Binance holds the third-largest ERC20-styled tether wallet with 1.82 billion, or 3.5% of all the USDTs on Ethereum.
Bybit, a crypto exchange, is the fourth-largest USDT holder on the Ethereum blockchain, with 2.35% of the supply, or 1.22 billion tethers. The Tether Treasury is again the fifth-largest holder on the Ethereum network with 922 million tethers. The Polygon bridge is the sixth-largest ERC20 tether holder with 901 million USDTs. The Polygon bridge wallet is followed by Mexc, the Optimism Gateway, and another Binance wallet. The top 100 holders collectively own 54.55% of the Ethereum-based tether supply.
The concentration of tether (USDT) among a handful of major players, particularly Binance, highlights their substantial influence in the stablecoin market. The tether landscape showcases a complex network of interconnected blockchains and wallets, emphasizing the top stablecoin’s dominance in the crypto economy. As cryptocurrency adoption accelerates, keeping an eye on the evolving dynamics of the stablecoin ecosystem and its principal holders becomes crucial for understanding market trends.
What do you think about the 111 billion tethers and the top wallets holding this stablecoin? Share your thoughts and opinions about this subject in the comments section below. #Write2Earn

Dormant Bitcoin Address Awakens After a Decade, Moves $9.8 Million in BTC

May has emerged as a notable month for ‘sleeping bitcoin’ transactions, with a long-dormant address, inactive for ten years and six months, awakening on May 28 to move 145.89 BTC, valued at $9.8 million.
Over $109 Million in Bitcoin From 2013 Moved in May
After a much quieter April, May has witnessed numerous dormant bitcoin addresses becoming active after years of inactivity. Notably, a significant holder from 2010 reappeared this month, spending 2,050 BTC from a cache of block rewards.
Additionally, $9.6 billion in Mt Gox bitcoins was transferred on Tuesday morning. On the same day, May 28, 2024, at block height 845,533, another entity decided to transfer 145.89 BTC worth $9.8 million from a dormant 2013 address.
The wallet was initially created on Nov. 20, 2013, when BTC traded at $590 per coin. Consequently, the bitcoins were worth $86,075 on the acquisition day. If sold, the entity would realize an 11,388% gain against the U.S. dollar since Nov. 20, 2013.
The transaction was tracked and discovered by btcparser.com, and the funds moved from a Pay-to-Public-Key-Hash (P2PKH) address to another legacy-styled P2PKH wallet. The bitcoins moved again from the new address created on May 28.
However, the associated bitcoin cash (BCH) remains inactive, valued at $68,181 for the 145.89 BCH. The transaction had two privacy issues, scoring a low 45 out of 100 in overall stealth due to the use of the “send everything” option (sweep) and repeated address inputs.
May has seen several 2013 ‘sleeping bitcoin’ transactions, with 17 occurring this month. A total of 1,613.93 BTC from 2013, valued at $109.39 million today, has been transferred over the past 29 days.
What do you think about the bitcoin holder who decided to move nearly $10 million in bitcoin after more than a decade? Share your thoughts and opinions about this subject in the comments section below. #Write2Earn

Medical Tech Firm Semler Scientific Invests in Bitcoin, Acquires 581 BTC

On Tuesday, the publicly traded medical technology firm Semler Scientific announced its decision to allocate bitcoin to its treasury. The company disclosed that it had acquired 581 bitcoins for a total of $40 million.
Semler Scientific Embraces Bitcoin
Joining the trend initiated by Microstrategy in 2020, another company has reportedly begun holding bitcoin on its balance sheet. Semler Scientific, Inc., known for developing, manufacturing, and marketing products and services for early detection and treatment of chronic diseases, was co-founded by Dr. Herbert J. Semler in 2007. Eric Semler, the company’s chairman, expressed a strong belief in bitcoin’s future.
“Our bitcoin treasury strategy and purchase of bitcoin underscore our belief that bitcoin is a reliable store of value and a compelling investment,” Semler stated. “Bitcoin is now a major asset class with more than $1 trillion of market value. We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability.”
The chairman added:
We also believe its digital, architectural resilience makes it preferable to gold, which has a market value of approximately 10 times that of bitcoin. Given the gap in value between gold and bitcoin, we believe that bitcoin has the potential to generate outsize returns as it gains increasing acceptance as digital gold.
The company claims that the board and senior management dedicated considerable time to exploring possible uses for their cash reserves, including acquisitions. After evaluating different options, the company concluded that holding bitcoin was the most advantageous use of their excess funds, Semler explained. Following the announcement, Semler Scientific (Nasdaq: SMLR) increased by over 20% at the beginning of Tuesday’s trading sessions.
Some companies have been criticized for using announcements of BTC reserves to boost their stock. Nilam Resources, a South American gold miner, faced accusations of engaging in a mere publicity stunt. After Nilam announced plans to acquire bitcoins, the company later issued a press release retracting the statement following a sharp rise in its stock. Following the Semler announcement, Microstrategy’s founder Michael Saylor shared the medical company’s news on the social media platform X.
What do you think about the medical company buying bitcoin for its reserves? Let us know what you think about this subject in the comments section below. #Write2Earn