Circle Internet Financial, the issuer of the US Dollar Coin (USDC) stablecoin, is making significant strides in its growth and expansion. The company is preparing for an initial public offering (IPO) and has announced plans to relocate its headquarters to Wall Street in 2025.

Circle’s IPO plans are contingent upon the approval of the United States Securities and Exchange Commission (SEC). In addition to the IPO, the company has been actively expanding the reach of USDC. The recent integration of USDC with the national banking systems of Brazil and Mexico allows businesses in these countries to access USDC directly through local financial institutions.

Despite these positive developments, Circle faces stiff competition from Tether, which remains the dominant stablecoin with a market share of over 70%. Tether has further strengthened its position by hiring Jesse Spiro, a former regulatory expert at PayPal and Chainalysis, as its new head of government affairs.

Circle’s strategic moves, including the planned IPO and expansion of USDC, demonstrate its commitment to growth and innovation. While the company faces competition from Tether, its focus on regulatory compliance and strategic partnerships positions it well for future success.

The cryptocurrency industry continues to evolve rapidly, with new developments emerging on a regular basis. Stay tuned for more updates on Circle, USDC, and other key players in the space.

The United States Securities and Exchange Commission (SEC) has given the green light to Nasdaq to list and trade options for BlackRock’s spot Bitcoin exchange-traded fund (ETF). This approval marks a significant milestone in the growing adoption of Bitcoin and its derivatives in the United States.

Nasdaq will allow trading for options on the iShares Bitcoin Trust (IBIT) under the ticker symbol IBIT. These options will be physically settled with American-style exercise and will be subject to the same rules as other ETF options.

While the SEC’s approval for IBIT options is a positive development, it’s important to note that other spot Bitcoin ETFs are still awaiting approval. Bloomberg ETF analyst Eric Balchunas speculates that more approvals could be forthcoming in the near future.

The approval process for spot Bitcoin ETFs involves multiple regulatory bodies. In addition to the SEC, the Office of the Comptroller of the Currency (OCC) and the Commodity Futures Trading Commission (CFTC) also need to provide their approval.

The approval of IBIT options comes amidst a surge in interest in Bitcoin ETFs. Trading volume for IBIT has reached over $875 million, and the total trading volume for all spot Bitcoin investment vehicles has surpassed $1.3 billion.

Nasdaq has also filed with the SEC to allow options trading for spot Ethereum ETFs on its exchange. This further demonstrates the growing acceptance and demand for cryptocurrency-related products in the traditional financial markets.

The SEC’s approval of options trading for BlackRock’s Bitcoin ETF is a significant step forward for the cryptocurrency industry. It signals a growing acceptance of Bitcoin and its derivatives within the regulated financial markets. As the regulatory landscape continues to evolve, we can expect to see further advancements in the trading and investment of cryptocurrencies.

Singapore, Singapore, September 20th, 2024, Chainwire

Mantle’s flagship game, Catizen, officially launched its token, $CATI, on multiple exchanges today, including Binance, OKX, Bybit, Gate.io, and Bitget. As the most profitable mini-game on Telegram, Catizen seamlessly integrates Telegram with The Open Network / TON (L1) and Mantle Network (L2). $CATI, as the universal token of the Catizen ecosystem, is issued on both the TON and Mantle. It can be used in the mini-app center and open tasks, providing users with the opportunity to participate in the Launchpool “Stake to Earn,” further promoting the development of the entire gaming ecosystem.

The $CATI token will exist in a parallel relationship on TON and Mantle, with a maximum supply of 1 billion tokens on each. However, the actual total supply will remain at 1 billion across the two blockchains through a locking mechanism. Currently, cross-chain transfers of $CATI can be done through Bybit exchange. The balance between the two chains is maintained through mutual locking contracts. For example, if Catizen airdrops 10 million $CATI to Mantle game users, 990 million $CATI of the 1 billion on Mantle Network will enter the locking contract, while 10 million $CATI of the 1 billion on TON will enter the locking contract to ensure that the total circulation on both chains remains capped at 1 billion.

Since receiving Mantle EcoFund’s major investment in February 2023, Catizen, developed by Pluto Studio, has skyrocketed in popularity, becoming one of the most successful blockchain games globally, with over 36 million players. Catizen’s success can be reflected in the following impressive metrics:

Over $30 million in revenue generated within just 6 months

Over 7 million Daily Active Users (DAU)

3 million on-chain users, with over 600,000 on the Mantle blockchain

Over 1 million paying users, with an Average Revenue per Paying User (ARPPU) of $27, totaling $27 million in revenue

More than 1 million MNT and 40 million $FISH tokens distributed as rewards exclusively to Mantle Catizen users

High-quality transactions: users bind wallets, sign contracts, and pay gas fees in MNT or TON for each transaction. More than half of the wallets hold at least $10 or more in assets

By providing exclusive benefits through the Mantle and TON, Catizen has demonstrated its unparalleled ability to onboard users into Web3 on a massive scale, leading the next wave of Web3 gaming economies.

For more information:

Catizen on Mantle statistics: https://dune.com/hashed_official/catizen-mantle 

$CATI airdrop details: https://x.com/CatizenAI/status/1833554571219898749

About Mantle

Mantle Ecosystem comprises an Ethereum layer 2 (L2) — Mantle Network, a decentralized autonomous organization (DAO) — Mantle Governance, one of the largest on-chain treasuries — Mantle Treasury, and an Ether (ETH) liquid staking protocol — Mantle LSP: all built on Ethereum. Mantle token ($MNT) is the unified product and governance token of the ecosystem. 

Mantle’s first core product is Mantle Network, an Ethereum L2. Mantle Network strives to be compatible with the Ethereum Virtual Machine (EVM). Mantle Network’s modular architecture separates transaction execution, data availability, and transaction finality into modules — which can be individually upgraded and adopt the latest innovations. Mantle Network is the first L2 to partner with ETH restaking protocol EigenLayer for the data availability module. By adopting a rollup architecture, Mantle Network is secured by Ethereum. As the world’s first DAO-spawned L2, Mantle Network is pioneering a vision for the mass adoption of token-governed technologies. The current mainnet version, Mantle Network Mainnet v2 Tectonic (Mantle v2 Tectonic), went live on March 15, 2024.

Mantle Network’s infrastructure is meticulously designed to handle the demands of the web3 gaming stack, enabling the creation of a connected and expansive gaming universe where assets have real value beyond a single game’s ecosystem. Closely intertwined with Mantle initiatives such as Hyperplay, Mantle Network’s ecosystem of expertise and resources facilitates a streamlined process for developers to build and deploy their gaming projects.

To support the next-generation of innovators, builders, and developers, Mantle is growing its ecosystem via Mantle Grants Program and Mantle EcoFund, a catalyzed capital pool of $200M. Mantle’s Showcase Apps program lends additional support and publicity to ecosystem projects in categories such as real world assets (RWA). 

For more information, readers can please visit:

Website | X/Twitter | Devs X/Twitter | Discord | Telegram | YouTube | Blog | GitHub

About Catizen

Catizen is a revolutionary gaming bot on Telegram that seamlessly integrates the messaging app Telegram with multiple blockchains, including TON and Mantle Network. It redefines Web 3.0 experiences by enabling mobile payments with both crypto currencies and fiat currencies. By tapping into Telegram’s vast user base, Catizen aims to create a Web 3.0 traffic hub on an unprecedented scale.

Additionally, Catizen is evolving into a Mini-app Center, integrating features from launchpool platforms, such as early access to new projects, token-based activities, transaction capabilities, along with short videos and e-commerce functionalities. This innovative approach will attract and engage users through gamification and strategic Play-to-Airdrop initiatives, transforming how users access and engage with the Web 3.0 ecosystem.

For more information, readers can please visit: 

X | Official Website | Telegram | Telegram Chat | Bot

Contact

Mantle’s Communications TeamMantlewindrangerlabs@wachsman.com

Amsterdam, Netherlands, September 20th, 2024, Chainwire

Nosana, the decentralized AI inference engine powered by a global network of consumer GPUs, reveals the official launch date for its Nosana Mainnet: January 14, 2025.

Nosana, a leader in decentralized AI computing, is proud to announce the upcoming launch of its Nosana Mainnet, set for January 14, 2025. This marks a significant milestone for Nosana, following a year of rigorous testing and preparation for full-scale deployment.

“When we first envisioned Nosana, we imagined a world where AI computing would be decentralized, accessible, and limitless—a place where developers could access GPU resources without the traditional barriers of centralized infrastructure,” said Jesse Eisses, co-founder of Nosana. “We recognized early on that existing AI compute solutions were too centralized or too complex, limiting innovation. Our mission from the start was to create a decentralized network that offers scalable, affordable, and open AI computing resources for the next generation of builders and innovators.”

Over the past nine months, the Nosana team has worked alongside its community to test, refine, and prepare the platform for its mainnet release. The network has engaged with over 4000 nodes from 60 countries across 6 continents, tapping into a global GPU provider network and gaining valuable insights from various AI projects to refine its technology.

What Nosana’s Mainnet Brings

Nosana’s Mainnet will transform access to decentralized GPU resources, unlocking crucial power and efficiency for AI inference workloads. With the launch, Nosana’s users and GPU providers will enjoy new features and significant improvements:

Nosana Console: A sleek and refined UI for seamless management of AI inference jobs.

Client SDK: A robust software development kit enabling developers to easily connect their projects to the Nosana GPU network.

Dynamic Pricing: Real-time, market-driven pricing to optimize resource allocation and ensure fair pricing.

Advanced Job-to-Node Matching: Efficient job distribution to maximize performance across the network.

Unrestricted GPU Grid Access: Clients will have full access to Nosana’s decentralized GPU network, enabling scalable AI operations.

“We are excited to take Nosana to the next level with its mainnet launch, offering full access to decentralized GPU computing” added Eisses.

Test Grid Phase 3: The Final Step Toward Mainnet

On September 30, 2024, Nosana will begin Test Grid Phase 3, its final stage of testing, focusing on refining pricing models, implementing staking, and ensuring the platform is fully prepared for the January launch. This phase will be the last opportunity to test critical components before the mainnet goes live.

Nosana’s Vision for 2025

The mainnet launch is just the beginning for Nosana. As the platform goes live, the company plans to expand its ecosystem and attract a broader range of projects. In Q2 2025, Nosana will host its first global hackathon, inviting developers and startups to explore new applications for AI inference on its decentralized GPU grid.

“As open-source developers, Jesse Eisses and I wanted to create a solution that moves away from the high costs, inflexibility, and control of centralized cloud providers,” said Sjoerd Dijkstra, co-founder of Nosana. “We couldn’t have reached this milestone without the support of our community, investors, and partners who believed in our vision for making AI computing more accessible for everyone.”

Nosana’s AI inference marketplace will continue to evolve, with ongoing improvements and new features to keep it at the forefront of decentralized AI technology.

Timeline Overview:

September 30, 2024: Start of Test Grid Phase 3

January 14, 2025: Nosana Mainnet Launch

Q2 2025: Global Hackathon for AI applications on Nosana’s network

About Nosana

Nosana is a decentralized AI inference engine powered by a global network of consumer GPUs. Built on the Solana blockchain, Nosana provides scalable and efficient access to GPU resources for AI workloads. With its cutting-edge infrastructure, dynamic pricing model, and advanced job-to-node matching, Nosana leads the way in decentralized AI computing.

https://nosana.com

Contact

CMOCaroline JohnovaNosanacaroline@nosana.io

The decentralized finance (DeFi) platform Sky, formerly known as MakerDAO, has approved a proposal to offload its exposure to wrapped Bitcoin (WBTC). This decision follows concerns raised by advisors regarding the potential risks associated with WBTC.

A governance vote conducted within the Sky community overwhelmingly supported the proposal to remove WBTC from the platform’s collateral. The proposal garnered 88.17% approval, with 95,826 MKR tokens pledged in support.

Sky will implement a multi-phase process to offload WBTC from its system. The first phase is scheduled to begin on October 3rd, with the final phase concluding on November 28th.

BA Labs, an advisor to Sky, raised concerns about the recent changes in WBTC ownership and control. The team expressed concerns about the potential counterparty risks associated with entities affiliated with Justin Sun, the founder of Tron.

Sky is exploring alternative wrapped Bitcoin options, such as Coinbase’s cbBTC and Threshold’s tBTC. These alternatives may offer greater transparency and security compared to WBTC.

Another DeFi platform, Aave, has also expressed concerns regarding WBTC. The Aave community is considering a proposal to reduce the platform’s exposure to WBTC. Similar to Sky, Aave’s concerns are related to the potential risks associated with WBTC’s ownership and control.

The concerns surrounding WBTC have had an impact on the market. The market capitalization of wrapped Bitcoin on Ethereum has declined by almost 40% since its peak in November 2021.

The decision by Sky to offload its WBTC collateral reflects the growing concerns within the DeFi community about the potential risks associated with this particular wrapped Bitcoin variant. As the industry continues to evolve, it is likely that other DeFi platforms will also reassess their exposure to WBTC and explore alternative options.

In a significant move to combat crypto-related money laundering, the German government has shut down 47 cryptocurrency exchanges. These exchanges are accused of deliberately facilitating an “underground economy” for cybercriminals.

A joint statement released on September 19th by Germany’s Federal Criminal Police Office, Frankfurt’s Main Public Prosecutor’s Office, and the country’s Office for Combating Cybercrime accuses the seized exchanges of knowingly violating anti-money laundering (AML) regulations. The authorities claim that these exchanges failed to properly implement legal requirements, allowing cybercriminals to conceal the origins of illegally obtained funds.

The statement further alleges that the targeted exchanges played a role in laundering funds for various criminal activities. This includes transactions made by ransomware operators, botnet operators, and black market traders who aimed to integrate their illicitly obtained funds into the mainstream financial system.

The German authorities have seized servers belonging to the targeted exchanges. These servers include development servers, production servers, and backup servers. This capture grants access to a vast amount of user data, including transaction details, registration information, and IP addresses.

A message displayed on the websites of the seized exchanges warns users that the authorities have acquired their data and are actively investigating their activities: “We have found their servers and seized them… We have their data – and therefore we have your data. Transactions, registration data, IP addresses… Our search for traces begins. See you soon.”

While the German authorities acknowledge the presence of criminal users on these platforms, they recognize the difficulty in prosecuting them due to their international presence. The statement acknowledges that many cybercriminals reside in countries that do not cooperate with German law enforcement, making them virtually inaccessible for prosecution.

Given the international nature of the crime, the German government may prioritize tracing and disrupting criminal activities over widespread user prosecution.

One notable example is Xchange.cash, which allegedly facilitated nearly 1.3 million transactions for 410,000 users since 2012. Other seized platforms with significant user and transaction volumes include 60cek.org, Baksman.com, and Prostocash.com.

The German government was previously one of the world’s largest Bitcoin holders, having seized nearly 50,000 Bitcoin (worth approximately $3.15 billion at current prices) from the piracy site Movie2k.to in 2020. These holdings were subsequently sold across several transactions in June and July of 2024.

The German government’s crackdown on these cryptocurrency exchanges sends a strong message to the industry regarding the importance of adhering to AML regulations. This action also highlights the international challenges of combating cybercrime in the digital age. As the cryptocurrency landscape evolves, regulators like Germany will likely continue to develop strategies to address the potential misuse of these assets for criminal activities.

LAS VEGAS, United States, September 19th, 2024, Chainwire

Blockchain storage layer Xandeum has announced that it will reveal its blueprint for scaling Solana storage at Breakpoint 2024 on September 20, 2024. At the flagship Solana conference in Singapore, Xandeum will also share details of its new storage-enabled liquid staking program and officially announce the launch of the XAND token.

Designed to overcome the limitations of Solana’s current storage model, Xandeum’s technology will allow dapps to scale by accessing virtually unlimited storage. Solana can be looked at as a “world computer”, and Solana accounts are its “RAM”. At Breakpoint 2024, Xandeum will share its vision for adding the “hard drive” via their scalable storage layer, the missing piece to a full-fledged world computer. This innovation enables a Cambrian Explosion of storage-enabled dapps.

The smart contract native storage layer introduces “Xandeum buckets,” an exabytes+ scalable file system integrated directly into Solana RPC nodes. Storage will be offloaded to a decentralized network of hundreds of thousands of storage provider nodes (pNodes), supervised by Xandeum-enabled Solana validators. pNodes, validators, and liquid stakers will earn additional rewards in SOL, thanks to highly dynamic fee markets designed to optimize storage efficiency and profitability.

“A low-cost, decentralized storage solution will drastically expand the application landscape.” says Tommy Johnson, early Solana builder, co-founder, and lead engineer at Armada. “It can unlock a new revenue stream for SOL validators and stakers. The Xandeum solution will have an enormous impact on the growth of the Solana ecosystem.”

More details of Xandeum’s Solana scaling solution will be shared at Breakpoint 2024. In addition, Xandeum will use the event to announce its storage-enabled liquid staking platform. Scheduled to go live on October 29, the platform will capture future Xandeum storage fees for xandSOL stakers. Early adopters who stake with Xandeum will be eligible for boosted rewards of up to 10x with more details at https://xandeum.network

As an event sponsor, the Xandeum team will have its own booth at Solana Breakpoint 2024 in Singapore, with community members able to learn more about key initiatives including the liquid staking pool, XAND token, and forthcoming airdrops. The first airdrop snapshot will take place on October 8, with the XAND token launch scheduled for October 29.

Xandeum’s development of new storage primitives to enhance Solana’s programming model will solve the issues with the current storage system, known as “accounts,” which has proven insufficient to hold even a few gigabytes per dapp. These limitations threaten to stifle the growth of web3 applications on Solana.

Xandeum lead developer Xandeum Labs has raised $2.8M to build out its scaling solution and has seen significant interest from Solana’s builder community, with over 4B transactions completed on its community-run devnet. Xandeum will support a new wave of scalable web3 dapps while maintaining Solana’s security and decentralization. 

About Xandeum Labs

Xandeum Labs is a web3 startup dedicated to building the scalable storage layer for Solana. As a major contributor to the world’s first storage-enabled liquid staking platform, operated by the XAND DAO, Xandeum has already raised $2.8 million from its community and is on track to launch its pNode network in early 2025.

Users can learn more: https://xandeum.com

Contact

Bernie BlumeXandeum Labshello@xandeum.com

Tecumseh, Canada / Ontario, September 19th, 2024, Chainwire

Agile Coretime Paves the Way for Polkadot 2.0 Improving the Network’s Scalability, Cost, Speed, and Flexibility

The Polkadot community celebrates the release of its latest major product, “Agile Coretime”, as part of the ongoing Polkadot 2.0 upgrade. This new feature represents a significant advancement in how computational resources are allocated and managed within the Polkadot ecosystem, delivering unprecedented efficiency, scalability, and accessibility for projects of all sizes.

Agile Coretime is not just a technical upgrade; it is the most important product launch this year for Polkadot as it evolves, through seamless on-chain governance, into a network ready to onboard the Web3 masses. It also serves as a primary catalyst for the rebirth of the entire ecosystem. By making it easier for projects to build and scale on Polkadot, this feature is designed to attract a new wave of innovative applications and use cases.

As the second crucial component on the path to Polkadot 2.0, which previously saw Asynchronous Backing go live and will later allow for Elastic Scaling, Agile Coretime redefines how blockchain resources are allocated by offering a dynamic, on-demand blockspace model. This new approach replaces the previous auction system, in which single cores were leased for two years at a time. The new approach makes it easier and more cost-effective for projects to access the resources they need, when they need them.

Eskimor, lead developer at Parity Technologies, Polkadot’s leading technical contributor, said: “Agile Coretime is a huge milestone in making the high quality blockspace Polkadot offers more accessible. With this and other features we have in the pipeline, I expect more experimentation and awesome projects to be launched on Polkadot, showcasing its amazing capabilities. Let’s wake our sleeping giant!”

One of the key advantages of Agile Coretime is its ability to align resource availability with actual network demand. By dynamically allocating computational resources, Polkadot ensures that no resources are wasted during low activity periods, while also preventing congestion during peak times. This adaptability is crucial for projects with varying needs, enabling them to scale and operate more efficiently without the burden of high upfront costs.

“Devs have historically faced a binary choice: deploy a smart contract and compete with other protocols for limited blockspace, or deploy a blockchain and pay for a large amount of dedicated blockspace,” says Derek Yoo, CEO of Moonsong Labs, “Agile Coretime addresses this challenge by offering a flexible approach. For projects starting out, you can harness the power and customizability of a blockchain while paying only for the blockspace you need. For mature projects with product-market fit, Agile Coretime allows scaling to meet high levels of demand without the need for sharding.”

For new developers and smaller projects, Agile Coretime lowers the barrier of entry by providing access to Polkadot’s robust infrastructure without the need for significant DOT collateral. This democratizes access, fostering greater innovation and participation within the ecosystem.

Projects can purchase coretime either on-demand or in bulk, providing flexibility or predictability depending on their specific needs. On-demand purchases are ideal for projects with fluctuating demands, while bulk purchases offer stable and reliable resource allocation for teams requiring a steady flow of blockspace.

For media inquiries, please contact Jonathan Duran at Jonathan(at)Distractive(dot)xyz

About Polkadot

Polkadot is the powerful, secure core of Web3, providing a shared foundation that unites some of the world’s most transformative apps and blockchains. Polkadot offers advanced modular architecture that allows devs to easily design and build their own specialized blockchain projects, pooled security that ensures the same high standard for secure block production across all connected chains and apps connected to it, and robust governance that ensures a transparent system where everyone has say in shaping the blockchain ecosystem for growth and sustainability. With Polkadot, you’re not just a participant, you’re a co-creator with the power to shape its future.

Contact

Marketing Communications DirectorJen WheatleyDistractivejen@distractive.xyz

Arthur Hayes, co-founder of BitMEX, has expressed skepticism about the recent interest rate cut by the Federal Reserve. He believes the decision may have been politically motivated and could have significant implications for both traditional and cryptocurrency markets.

Hayes suggests that the Fed’s rate cut could be part of a broader strategy to boost support for the Democratic Party in the upcoming elections. He argues that the decision to lower interest rates despite strong economic indicators contradicts concerns about government spending.

Hayes believes that the rate cut could have a delayed impact on financial markets. He predicts that the real market reaction may occur after the close of traditional financial markets on Friday.

The rate cut has already had a positive effect on cryptocurrency markets, with Bitcoin gaining over 4% since the announcement. However, Hayes cautions that the long-term consequences could be more significant, including potential inflation and economic instability.

The Bank of Japan’s upcoming rate decision could also impact Bitcoin’s price. A weaker Japanese yen could strengthen Bitcoin, while a strengthening yen and unwinding of yen carry trades could put pressure on Bitcoin and other asset prices.

Hayes has been vocal in his criticism of the Fed’s monetary policy. He has previously argued that rate cuts will not benefit the cryptocurrency market and that the Fed’s actions could lead to inflation.

Arthur Hayes’ analysis of the Federal Reserve’s rate cut provides valuable insights into the potential implications for both traditional and cryptocurrency markets. While the short-term impact may be positive, Hayes warns of potential long-term consequences.

As the cryptocurrency market continues to evolve, it is essential to closely monitor macroeconomic factors and their impact on digital assets.

The blockchain security firm PeckShield has issued a warning about a phishing scam targeting users of the Decentraland virtual reality platform. The attackers are using a compromised official Decentraland account to distribute malicious links that appear to offer a MANA token airdrop.

The phishing scam involves a link that redirects users to a fraudulent website. Users are prompted to connect their wallets to claim the supposed airdrop, but doing so results in their funds being compromised.

PeckShield advises users to exercise caution and avoid interacting with the compromised Decentraland account. The security firm recommends waiting for official announcements from the platform to confirm that the account has been restored and is safe to use.

This incident is part of a growing trend of social media accounts being compromised by scammers. In recent weeks, several high-profile accounts have been hacked, leading to the distribution of phishing links and scams.

The attackers behind the Decentraland scam gained control of the official account on September 19th. They posted about a MANA token airdrop and pinned the post to the top of their profile. The scammers also disabled comments on the post to prevent users from raising concerns or sharing information about the scam.

Kitboga, a well-known scam baiter, has shared tips on how to avoid falling victim to scams. One of the key strategies is to remain calm and avoid rushing into decisions. Scammers often create a sense of urgency to pressure victims into making hasty actions.

The Decentraland account hack serves as a reminder of the ongoing threat of phishing scams in the cryptocurrency space. Users should be vigilant and exercise caution when interacting with social media accounts, especially when dealing with offers of free tokens or other incentives.

By following the advice of security experts and remaining aware of common scam tactics, users can significantly reduce their risk of falling victim to these malicious attacks.

Singapore, Singapore, September 18th, 2024, Chainwire

Parachains and developers can register now to test NFT XCM functionality and get an exclusive first look at this innovation in action.

Unique Network has announced it will be launching the first developer environment for NFT XCM transfers (Cross-Chain NFTs), starting with two major networks for developers and parachains in the Polkadot ecosystem. Using NFT XCM’s technology at the start of the developer environment, blockchain developers can move NFTs between Asset Hub, and Unique Network. Interested parachains can be added to the developer environment to develop NFT XCM functionality.

What is NFT XCM?

NFT XCM is a groundbreaking initiative developed by Unique Network, designed to simplify the transfer of NFTs (Non-Fungible Tokens) across parachains. By enabling seamless movement between different chains, NFT XCM is not just expanding accessibility but also unlocking new possibilities for creators, developers, and users alike.

NFT XCM extends the limits of Web3 games and NFT collections, supporting greater use cases and making non-fungible tokens available to a larger group of on-chain users. Unique Network invites parachains, and developers to register their interest in the upcoming testing phase of NFT XCM transfers, to demonstrate its efficacy and explore applications for the technology.

NFT XCM utilizes Polkadot’s Cross-Chain Messaging, the messaging format and language used to communicate between consensus systems. 

Developers and parachains interested in testing NFT XCM transfers are encouraged to register their interest via this form. Polkadot parachains will be added to the developer environment to develop and test NFT XCM functionality. EVM teams interested in pioneering EVM implementations of the technology in a development/test environment are also invited to register their interest.

Following the development work of NFT XCM, the Unique Network team unveiled the Cross-Chain NFTs Think Tank earlier this year at Polkadot’s Sub0 conference. This initiative is designed to foster collaboration, drive innovation, and explore new use cases for Cross-Chain NFTs within the Polkadot ecosystem. Leading projects, such as Acala Network and Zeitgeist, are already exploring ways to integrate Cross-Chain NFTs into their own projects.

Alexander Mitrovich, CEO of Unique Network shared:

This milestone represents not just technical progress but the unification of an ecosystem. NFTs are no longer confined to one parachain; we’re building a future where they can flow freely across multiple chains.”

The importance of cross-chain interoperability for assets such as NFTs was first highlighted in the Polkadot Whitepaper by Polkadot creator, Gavin Wood. The launch of XCM v3 in May of 2022 introduced this capability but was only viable for Fungible Tokens (FTs). NFT XCM is a breakthrough that will enable users to seamlessly transfer digital assets between Polkadot parachains, making NFTs more accessible and versatile than ever.

Following this, Chief Marketing Officer at Unique Network, Charu Sethi discussed the company’s efforts to foster collaboration and streamline the NFT ecosystem across Polkadot’s various blockchain networks.

As we advance NFT XCM technical capabilities, it’s critical to address the complexity and fragmentation within the ecosystem. We are now working on organizational bridges and aligning leadership across all NFT blockchains in Polkadot.

About Unique Network

Unique Network is the first NFT chain built on Polkadot and Kusama, offering the most sustainable and green NFTs with advanced features for gaming, art, and fan engagement. 

Unique Network offers unparalleled customization, scalability, and interoperability, making it the ideal platform for advanced and innovative NFT applications.

Users can learn more here: https://unique.network

Contact

Chief Marketing OfficerCharu SethiUnique Networkcs@unique.network

The Ethereum Name Service (ENS) has taken a significant step towards mainstream adoption by partnering with payment giants PayPal and Venmo. This integration allows users to utilize their ENS usernames for crypto transactions, simplifying the process and reducing the risk of human errors.

Marta Cura, director of business development at ENS Labs, believes that this partnership is a crucial step in bridging the gap between Web2 and Web3 users. By integrating ENS with popular payment platforms like PayPal and Venmo, ENS aims to make cryptocurrency payments more accessible and user-friendly.

ENS names offer a significant advantage over traditional Ethereum addresses, which are complex and prone to errors. By using a human-readable name, users can easily send and receive cryptocurrencies without the risk of mistyping addresses.

The number of ENS names has been steadily increasing, approaching the 2 million mark. This growth indicates a growing interest in using ENS as a convenient and secure way to interact with the Ethereum blockchain.

While the integration with PayPal and Venmo is a positive development, mainstream adoption of cryptocurrencies still faces challenges. One of the key obstacles is the need for greater collaboration between traditional financial institutions and blockchain companies.

ENS Labs recognizes the importance of working with traditional finance (TradFi) players to drive adoption. However, partnering with TradFi firms can be time-consuming due to their stringent approval and governance processes.

The integration of ENS can help mitigate the risk of address poisoning scams, a common tactic used by cybercriminals to deceive users into sending funds to fraudulent addresses. By using ENS names, users can avoid the confusion and potential losses associated with these scams.

The partnership between ENS and PayPal and Venmo represents a significant milestone in the adoption of cryptocurrencies. By simplifying the payment process and reducing the risk of errors, ENS can make cryptocurrencies more accessible to a wider audience.

As the cryptocurrency industry continues to evolve, collaborations between traditional finance and blockchain companies will be crucial for driving mainstream adoption. ENS is leading the way in this regard, demonstrating the potential for innovative solutions to bridge the gap between the two worlds.

Tether’s USDT stablecoin has achieved a significant milestone, surpassing $1 billion in circulating supply on The Open Network (TON) chain. This development underscores the growing popularity of both USDT and TON, despite the challenges faced by Telegram, the social media platform that originally created TON.

USDT remains the leading stablecoin, commanding a market capitalization of approximately $118 billion. Its dominance is evident on various blockchains, including TON. The integration of USDT with TON has contributed to the chain’s rising popularity, particularly within the Telegram ecosystem.

Stablecoins have witnessed a surge in adoption, with the number of active wallets doubling from 2022 to over 20 million. This growth is fueled by the increasing demand for stable, digital currencies that can be used for various purposes, including payments, remittances, and investments.

Tether has demonstrated its financial strength through its substantial profits. In 2023, the company generated $6.2 billion in profits, surpassing even the world’s largest asset manager, BlackRock.

Tether’s investment strategy involves swapping USDT for US dollars and investing the funds in low-risk, yield-bearing assets. This approach has generated significant returns, enabling Tether to expand its investments into emerging technology companies.

Tether has been actively pursuing strategic partnerships to broaden its reach and enhance its product offerings. In April 2024, Tether acquired a $200 million stake in BlackRock Neurotech, becoming the largest shareholder in the brain implant company.

Additionally, Tether has been expanding its stablecoin offerings. In September 2024, Circle announced the integration of USDC with Sui, a layer 1 blockchain network. This move aims to increase the accessibility and usability of USDC for users on different blockchains.

USDT’s achievement of surpassing $1 billion on TON chain highlights the growing adoption of stablecoins and the potential of blockchain technology. Tether’s strategic investments and partnerships demonstrate its commitment to innovation and expansion.

As the cryptocurrency market continues to evolve, stablecoins like USDT are likely to play a crucial role in facilitating various financial transactions and bridging the gap between traditional finance and the digital economy.

Circle Internet Financial, the issuer of the US Dollar Coin (USDC) stablecoin, has made significant strides in expanding the reach of USDC in Latin America. The company has successfully integrated USDC with Brazil’s PIX and Mexico’s SPEI, the real-time payment systems of these countries.

The integration of USDC into these national payment systems offers several advantages. Businesses in Brazil and Mexico can now access USDC directly from local financial institutions, eliminating the need for time-consuming international wire transfers. This significantly reduces transaction times and improves efficiency.

USDC can be accessed in local fiat currencies, such as the Brazilian Real (BRL) and the Mexican Peso (MXN). This makes it more convenient for businesses and individuals to use USDC for various purposes, including corporate transactions and retail payments.

Circle’s move to Latin America is strategically aligned with the growing demand for cross-border transactions. Remittances from the United States to Mexico have reached significant levels, totaling $63 billion in 2023. This represents a 7% increase from the previous year and accounts for a substantial portion of the Mexican economy.

Mexico and Brazil are major trading partners with the United States. The integration of USDC provides a more efficient and cost-effective way for businesses in these countries to conduct cross-border transactions.

USDC is currently the second-largest stablecoin by market capitalization, trailing behind Tether’s USDT. However, Circle’s expansion into Latin America positions USDC as a strong competitor in the region. By offering seamless integration with local payment systems, USDC can attract more users and businesses.

Circle’s integration of USDC with Brazil and Mexico’s real-time payment systems is a significant development for the cryptocurrency industry. It opens up new opportunities for cross-border transactions, enhances the accessibility of USDC, and strengthens Circle’s position in the Latin American market.

As the demand for digital assets continues to grow, stablecoins like USDC are playing an increasingly important role in facilitating global commerce and financial transactions.

Amsterdam, Netherlands, September 18th, 2024, Chainwire

Token 2049 Attendees Can Collect DOTphin Proof of Presence Digital Avatars and Contribute to Real-World Environmental Impact

 Sovereign Nature Initiative (SNI) has joined forces with Unique Network and WalletConnect to launch DOTphin, an innovative Polkadot NFT project for attendees of Token 2049 in Singapore. Attendees are invited to visit the Polkadot booth (Booth #P34 and 42, located on level 5 of the Marina Bay Sands Convention Center) and collect their Proof of Presence (PoP) and begin their journey with DOTphin avatars which evolve through user interaction and contribute to real-world marine conservation efforts.

By participating in the DOTphin experience, Token 2049 attendees can collect a PoP, unlocking stages in the avatar’s evolution, which is influenced by ecological data from SNI’s marine conservation partner, Aquasearch. This innovative fusion of blockchain and ecological impact empowers users to play a role in preserving marine life while engaging with cutting-edge technology.

Catherine Bischoff, CEO of SNI shared, “Our goal at Sovereign Nature Initiative is to rethink the economics of biodiversity conservation and restoration. Through DOTphin, we have pioneered a groundbreaking approach to merge community engagement and the protection of our natural world by connecting digital collectibles with living entities. We add meaning to virtual realms by distributing dynamic assets that are verifiably making real world impact.”

To claim PoPs or other Proofs, users can visit the SNI Website or scan QR codes encountered at events. This will direct attendees to the claim process, which involves logging into an account. For those without an account, it can be created easily using an email address, social profiles, or digital wallets. The process is designed for simplicity and efficiency, making it easy to manage and claim Proofs.

Once PoPs are collected, the next step is evolving the DOTphin. This can be done by visiting the REAL Evolution page on the REAL portal. The same sign-in credentials used to claim Proofs are required to connect the account. The evolution process begins with the acquisition of the primordial “orbo”, which acts as the starting point; once hatched, it marks the commencement of the DOTphin’s evolution.

To evolve the DOTphin, other collected PoPs and Proofs are utilized. On the REAL Evolution page, select the evolve option, choose the Proofs to be applied, and the DOTphin will develop accordingly. Each Proof influences the characteristics of the DOTphin, making it a personalized representation of individual engagement and achievements. The selected Proofs will shape the DOTphin’s evolution, creating a unique avatar.

The DOTphin avatar aesthetic is heavily influenced by the artistic style seen in Japanese anime. This design decision creates a significant and relatable connection between the general audience and the digital companion and promotes the idea of caring for an object as it evolves over time. The acclaimed designer behind the art is Daria Smakhtina, from Ephemera One.

About Sovereign Nature Initiative

Sovereign Nature Initiative (SNI) is a non-profit organization dedicated to rethinking the economics of biodiversity conservation and restoration. Leveraging cutting-edge technologies, SNI creates innovative solutions that connect digital assets with real-world ecological impact. Through its proprietary tech stack—DEEP Protocol and the REAL Portal—SNI integrates live ecological data into digital collectibles, ensuring a sustainable funding channel for biodiversity efforts. The DEEP protocol gathers data from biodiversity stewards, while the REAL Portal continuously verifies commitments, linking users to tangible proof of their environmental contributions. SNI’s work, including pioneering projects like DOTphin, fosters community engagement and creates a new form of digital accountability for conservation.

About Polkadot

Polkadot is the powerful, secure core of Web3, providing a shared foundation that unites some of the world’s most transformative apps and blockchains. Polkadot offers advanced modular architecture that allows devs to easily design and build their own specialized blockchain projects, pooled security that ensures the same high standard for secure block production across all connected chains and apps connected to it, and robust governance that ensures a transparent system where everyone has say in shaping the blockchain ecosystem for growth and sustainability. With Polkadot, users are not just participants, they’re co-creators with the power to shape its future.

Contact

PRJonathan DuranDistractiveJonathan@distractive.xyz

Singapore, Singapore, September 18th, 2024, Chainwire

New global crypto exchange offers competitive leverage and yield-earning cash sweeps, offering users up to 8% on cash and stablecoin balances.

Figure Markets, a leading decentralized custody marketplace for digital assets, today unveiled its global crypto exchange based out of the Cayman Islands, offering a wide array of new features and yield-earning opportunities. One of the standout offerings is a new yield sweep for eligible global users on cash and stablecoin balances with rates up to 8% annualized. U.S. users may also benefit from earning up to 3% annualized on USD balances held at an FDIC-insured bank.

Following its U.S. launch in August, the launch of the Cayman-licensed global crypto exchange is part of Figure Markets’ ongoing mission to democratize finance by providing robust trading options and advanced financial products to users worldwide. The global platform is designed to enhance the trading experience by offering a high cash leverage and a decentralized custody solution and cross-collateralization that keeps users in control of their assets, reducing the risks associated with traditional centralized exchanges.

“We’re committed to righting the wrongs of the past and providing users with the tools they need to trade, borrow, and invest on the platform while minimizing exchange risk,” said Mike Cagney, CEO and Co-Founder of Figure Markets. “This global expansion is a major milestone for us in addressing the issues caused by centralized exchanges and leveling the playing field for all traders. We are building a financial ecosystem where everyone has the opportunity to be an owner.”

Cash yields on non-USD and stablecoin balances are derived from an innovative fund backed by real-world assets on blockchain. The fund operates with daily liquidity and automatic sweeps to ensure user funds are always working to generate returns.

“We are excited to introduce this innovative feature that directly addresses the needs of our members,” said June Ou, President of Figure Markets. “By offering the ability to earn high returns on idle cash while mitigating trading friction, we are empowering our traders to optimize their capital and enhance their overall trading experience.”

Along with the new yield offering, the exchange is also offering qualified members up to 5:1 margin. Exchange members can cross-collateralize their positions seamlessly – using BTC balances to buy ETH, for example. This will be complemented by upcoming higher and expanded leverage offerings, including a broad set of perpetuals covering crypto, commodities, FX and equities by year-end.

About Figure Markets

Figure Markets is democratizing finance through blockchain. Figure Markets is building the exchange for everything – a decentralized custody marketplace for crypto, stocks, bonds, credit and more. The company is bringing best-in-class leverage, margining, and liquidity to our exchange, while offering our members extensive borrowing options and unique investment opportunities. Figure Markets puts its members in control of their assets and data, disintermediating legacy brokers, exchanges and lenders.

Figure Markets is backed by leading venture capital firms and strategic partners, including Jump Crypto, Pantera, Distributed Global, Faction Lightspeed, NewForm Capital and CMT Digital. Figure Markets was founded by a seasoned team of entrepreneurs and operators from TradFi, fintech, and DeFi, including Mike Cagney and June Ou.

Learn more at www.figuremarkets.com.

Contact information

Paula Machado Jackler

Director, Marketing

Figure Markets

press@figuremarkets.com 

Contact

Paula Jacklerpjackler@figuremarkets.com

New York, NY, September 17th, 2024, Chainwire

tBTC on EigenLayer offers users new restaking opportunities to earn rewards as Bitcoin demand outpaces other crypto markets 

EigenLayer’s adoption of tBTC spotlights tBTC’s role as one of the most decentralized assets for securely growing the BitcoinFi ecosystem 

Threshold Network, the DAO behind tBTC, the first decentralized asset bridging Bitcoin and Ethereum, announced that EigenLayer, the restaking protocol built by Eigen Labs, has officially started accepting tBTC deposits, making tBTC the first incentivized bitcoin asset on EigenLayer.

Threshold’s integration with EigenLayer underscores the BitcoinFi community’s outpaced demand for staked Bitcoin—a major shift towards maximizing the full earning power of Bitcoin for users,” commented MacLane Wilkison, Contributor to Threshold. “It is a testament to tBTC’s strength in securing the BitcoinFi ecosystem through the diversification of assets available. To date, leading protocols including Curve, GMX, and Compound, among others, have integrated the asset for its flexibility as one of most decentralized wrapped assets on the market.” 

The Threshold Network DAO, which governs tBTC, offers incentives of up to $45K in T over the first 3 months for new users who deposit tBTC into EigenLayer. With Eigenlayer, users have a new way to maximize capital efficiency: opting in to secure additional protocols through restaking. This method strengthens economic security by leveraging Bitcoin’s stability—an asset that accounts for over 50% of the total crypto market cap—and merging its long-term non-inflationary nature with the Proof of Stake (PoS) consensus model. Notably, restaking just 7% of Bitcoin’s total supply would provide the same level of economic security as Ethereum, underscoring Bitcoin’s potential as a PoS asset.

“The inclusion of Threshold’s tBTC as a restakeable asset on EigenLayer is another major step forward towards open innovation by building connectivity with the bitcoin ecosystem, broadening the scope of assets that can contribute to securing decentralized networks, and providing greater optionality and utility for AVSs and restakers,” stated Sreeram Kannan, Founder and CEO of Eigen Labs.

Following the emergence of Bitcoin staking projects like Babylon, Lombard, and Acre, EigenLayer’s adoption of tBTC is a testament to the power of Bitcoin restaking in incentivizing users to put Bitcoin to use beyond a store of value. tBTC’s ability to bridge the Bitcoin and Ethereum ecosystem makes it the optimal solution for driving the development of the BitcoinFi ecosystem. 

About Threshold Network:  

Threshold Network offers decentralized cryptography services that enhance privacy and security on public blockchains by distributing operations across independent nodes. Powered by the T token, users can stake and operate nodes to support key services like tBTC, a Bitcoin bridge, and TACo, an access control tool. By minimizing reliance on centralized entities, Threshold ensures trustless, secure, and privacy-focused solutions for decentralized applications in the evolving Web 3.0 landscape. To learn more, please visit: https://threshold.network/  

About EigenLayer: 

EigenLayer is a protocol built on Ethereum that pioneered restaking, a new primitive in cryptoeconomic security. Through a system of interconnected smart contracts, any ERC-20 token, such as tBTC, can be “restaked” to participate in not one, but any number of Actively Validated Services (AVSs) in exchange for fees and/or rewards. Operators opt into these opportunities by running additional node software and in some cases grant the EigenLayer smart contracts the ability to impose additional slashing conditions on their assets as specified by the AVS. 

Contact

M Group on Behalf of Thresholdtkaufmann@mgroupsc.com

The Hong Kong government is set to unveil new policies governing the use of artificial intelligence (AI) in the financial sector. This move aims to promote the adoption of AI technologies in traditional trading, investment banking, and cryptocurrency markets.

The Financial Services and the Treasury Bureau (FSTB) is leading the development of the AI framework. Officials are currently drafting the policy document while gathering feedback from industry stakeholders. The finalized guidelines are expected to be released at the Hong Kong FinTech Week event in October.

The FSTB is closely monitoring global developments in AI adoption to ensure that Hong Kong’s policies are effective and responsible. By studying the experiences of other jurisdictions, the government aims to create a framework that promotes innovation while mitigating risks.

The US-China tech conflict has limited the availability of advanced AI tools like ChatGPT and Gemini in Hong Kong. This has created an opportunity for grassroots development and adoption of AI services within the jurisdiction.

The Hong Kong Monetary Authority (HKMA) has already issued guiding principles for the use of generative AI in consumer-facing applications. These principles emphasize the importance of governance, transparency, and data protection.

The HKMA has also stressed the need for accountability, requiring authorized institutions to hold their boards and senior management responsible for any AI-related decisions. Additionally, the HKMA has urged institutions to prioritize the protection of customer data.

Hong Kong’s initiative to introduce AI guidelines for the finance sector demonstrates its commitment to embracing technological advancements. By promoting responsible AI adoption, the government aims to enhance the competitiveness of the financial industry and foster innovation.

As the cryptocurrency market continues to evolve, AI technologies are likely to play an increasingly important role. Hong Kong’s proactive approach can position the jurisdiction as a leader in AI-driven financial services.

The cryptocurrency market is experiencing increased volatility as investors anticipate the Federal Reserve’s upcoming interest rate decision. Bitcoin’s price has fluctuated around the $60,000 mark, with analysts closely monitoring the potential impact of the Fed’s actions.

The market is widely expecting the Fed to deliver its first interest rate cut since the start of the COVID-19 pandemic. However, there is uncertainty regarding the magnitude of the cut, with predictions ranging from 25 basis points to 50 basis points.

Bitfinex analysts believe that the market’s reaction to the Fed’s decision could be volatile, with potential swings in both bullish and bearish directions. The decision may significantly impact the flow of funds into Bitcoin ETFs and perpetual markets.

Bitcoin’s price has shown resilience, recovering above the $60,000 psychological level after dipping below it in early September. Bitfinex analysts have suggested that this recent price action indicates a potential local bottom around the $52,000 mark.

Many analysts remain optimistic about Bitcoin’s prospects, particularly in the context of the upcoming Fed rate cut. The combination of a potential rate cut and historical chart patterns suggests that Bitcoin could be poised for a significant rally in the coming months.

The cryptocurrency market is currently experiencing a mix of fear and greed. While there are concerns about potential downside risks, the overall sentiment remains relatively positive. Analysts are predicting a 50 basis point rate cut, which could further fuel Bitcoin’s rally.

Singapore, Singapore, September 17th, 2024, Chainwire

The world’s largest martial arts organization will leverage Sui’s technology for its products and highly anticipated mobile game ONE Fight Arena built in partnership with Animoca Brands

Sui, a cutting-edge Layer 1 blockchain, today announced it will be the official blockchain partner of ONE Championship (“ONE”), the world’s largest martial arts organization. ONE events represent the full spectrum of martial arts, with world-class athletes from more than 80 countries competing across MMA, Muay Thai, kickboxing, submission grappling, and other disciplines. The partnership was announced during a panel at Sui’s Singapore Builder House during Token2049, the world’s largest crypto event.

Through this partnership, Sui will be integrated into various ONE products, including ONE Fight Arena, the promotion’s highly anticipated official Web3-enabled free-to-play mobile game, built in partnership with Animoca Brands and its subsidiary Notre Game. ONE Fight Arena features ONE’s robust roster of world champion martial artists and vast IP library.

The mobile game will leverage Sui’s world-class technology to provide a novel gaming experience with true digital ownership at its core, while allowing ONE to directly engage with its global fan base in a deeper manner. 

Sui’s integrations will include a comic/manga series about ONE athletes accessible through zkLogin and powered by the Walrus protocol on Sui, a free-to-play pick’em game where fans can win a variety of rewards and phygital collectibles that blend physical and digital aspects.

“ONE Championship is the fastest-growing major global sports property and has established a reputation for being extremely forward-thinking and technologically innovative,” said Jameel Khalfan, Head of Ecosystem Development at Sui Foundation. “Being chosen as their official blockchain partner and being integrated into their tech stack is a validation of Sui’s growth and adoption trajectory and another opportunity to serve the sports community with Sui’s technology.”

As ONE’s official blockchain partner, Sui is expected to gain significant visibility and brand exposure during marquee scheduled events, which will be accessible in-person for thousands of people and broadcasted to millions globally into over 190 countries through a network of partners, including Prime Video, Sky Sports, Globo, Channel 7 HD, U-Next, Seven Network, and Disney+ Hotstar.

“In today’s competitive landscape, capturing attention demands high-quality, interconnected, and engaging experiences. By offering world-class events, innovative gaming, second-screen features, and leveraging Web3 technology, we aim to connect with fans on a deeper level,”, said Hua Fung Teh, Co-Founder and Group President of ONE Championship. “Sui perfectly aligns with these objectives, and we are thrilled to partner with them as our official blockchain partner to bring this vision to life.”

Contact

Sui Foundationmedia@sui.io