Artur Schaback, co-founder and former CTO of Paxful, faces up to five years in prison after admitting to failing to implement essential Anti-Money Laundering (AML) protocols at the cryptocurrency exchange.

The US Justice Department revealed that Schaback’s sentencing is set for November 4, following his guilty plea on July 8.

Schaback’s plea deal includes a $5 million fine, payable in three installments: $1 million immediately, $3 million by the sentencing date, and the final $1 million over the next two years. He will also step down from Paxful’s board.

Prosecutors indicated that Schaback, along with Paxful’s then-CEO, neglected to establish a required AML program within the initial 90 days of the business’s operation, as mandated by the Bank Secrecy Act. They also failed to create a Know Your Customer (KYC) process to verify users’ identities.

This oversight allowed Paxful to be used for money laundering and other illegal activities between July 2015 and June 2019. 

Schaback and his partner permitted trading on the platform without adequate user verification and falsely advertised Paxful as not requiring KYC.

The Exodus Passkeys Wallet allows users to set limits on crypto transactions while ensuring that users have full control over their assets.

Exodus, a major software self-custodial wallet for cryptocurrency, is expanding its ecosystem beyond its platform with a new solution that allows users to integrate the wallet into any application.

Exodus Movement, the United States-based firm that created the Exodus wallet, on July 9 announced the launch of Exodus Passkeys Wallet.

The tool allows users to create and fund their embedded wallet directly in any platform or application, aiming to further boost Web3 onboarding and integration of decentralized applications (DApps). 

The new product can also be used as a standalone application, the announcement notes.

No Need For Seed Phrases Or Verifications

With Passkeys Wallet, developers and users can create and fund an embedded wallet directly within the used application. According to the announcement, the process does not require users to fill in any seed phrases, browser extensions or email verifications, significantly simplifying the integration process.

“With just one click, users can create their wallet, or ‘Passkey,’ and seamlessly connect to an application, able to market-integrate in less than 10 minutes, with just a few lines of code,” Exodus co-founder and CEO JP Richardson said.

While simplifying wallet integrations across DApps, Exodus still ensures that users have complete control over their assets in a secured ecosystem.

Exodus Passkeys Wallet Allows Transaction Limits But Still Maintains Self-Custody

According to the announcement, the Exodus Passkeys Wallet is built using Multi-Party Computation (MPC) technology, which aims to enhance security by distributing private key control across multiple parties.

The Passkeys Wallet also expands user safety with features like spending limits while maintaining self-custody, the announcement notes.

Additionally, Passkeys Wallet uniquely supports Ethereum Virtual Machine (EVM), Bitcoin (BTC), and Solana (SOL), providing users with flexibility and access to diverse blockchain ecosystems and DApps.

Announcing the news, Exodus Movement mentioned that the waitlist for Passkeys Wallet is now live. Interested users are invited to sign up to be among the first to test out the new wallet using the link to the Passkeys Foundation.

Officially launched in 2016, Exodus is one of the most popular self-custody crypto wallets. It allows users to store crypto without intermediaries. 

The multi-chain wallet doesn’t require users to sign up for an account and supports more than 50 crypto networks.

Exodus became a publicly traded company in 2021, after listing its stock with broker-dealer tZero.

Singapore Exchange (SGX) sidelines crypto products, citing the local market is “not ready.”

Singapore Exchange (SGX) has no immediate plans for listing crypto.

Singapore’s MAS banned local crypto ETF listings in January.

As Singapore lags, other countries are embracing crypto exchange-traded funds.

Singapore Exchange (SGX) CEO Loh Boon Chye said Tuesday that the bourse has no immediate plans to list cryptocurrencies, citing unripe conditions for such a move.  

Formed in 1999 through the merger of the Stock Exchange of Singapore and the Singapore Intl Monetary Exchange, SGX has an interest in the Asian derivatives business and has built up a global listing venue for real estate trusts.

SGX Sidelines Crypto Products

Speaking in an interview at the Reuters NEXT conference in Singapore on July 9, Loh said “Not at the moment” when asked whether SGX would welcome crypto listings.

“I think for any new product launches, it’s important for this to have a sustainable ecosystem support. That really means demand, that really means governance, that really means structure.” Loh explained. The ecosystem, I feel, at this point in time, is not ready for such products in Singapore.”

Loh’s comment comes after the Monetary Authority of Singapore (MAS) took a similar stand against crypto-centric exchange-traded products (ETFs) on January 18, a week following the approval of spot Bitcoin ETFs in the U.S.

While MAS has banned the local listing of Bitcoin ETFs, citing volatility and user eligibility concerns, the regulator allows retail investors to access these funds in overseas markets and encourages them to “exercise extreme caution.”

But as Singapore continues with its reserved approach toward crypto ETFs, other parts of the world are embracing the innovation.

The Crypto ETF Wave

Thailand was among the first countries to reverse its stance against crypto ETFs. 

After showing unwillingness to allow Bitcoin ETFs within its territory in January, citing a policy lacuna, the Thai SEC finally caved in and approved the first spot BTC exchange-traded fund on June 4.

In Australia, the Australian Securities Exchange (ASX) welcomed the second spot crypto product on Tuesday, allowing DigitalX’s Bitcoin ETF to be listed for trading under the ticker “BTXX”. Monochrome launched the first spot Bitcoin ETF on ASX on June 4.

MetaMask, the leading Web3 self-custodied wallet provider, is introducing new tools to enhance user experience and facilitate easy onboarding processes within the crypto economy. 

MetaMask, along with its parent company ConsenSys, has been in the business of simplifying the Web3 economy and making it accessible globally.

The tools, known as the MetaMask Delegation Toolkit, were unveiled by ConsenSys, the parent firm of MetaMask, at the Ethereum Community Conference (EthCC) event that commenced on July 8 in Brussels.

Addressing Crypto Accessibility

MetaMask said the toolkit aims to address public perceptions regarding crypto accessibility. 

A poll conducted by ConsenSys with approximately 15,000 participants before the product launch revealed that many perceive crypto as overly complex and challenging for everyday use.

In response to these perceived barriers to adopting Web3 concepts, MetaMask introduced the Delegation Toolkit. This initiative aims to resolve inefficiencies and provide a more accessible pathway for widespread adoption. 

However, currently, the toolkit supports only the Ethereum ecosystem, although components of the MetaMask Delegation Toolkit could potentially be extended to other chains across the industry.

According to an official press release accompanying the unveiling, ConsenSys highlighted that the toolkit is designed to support software developers in creating innovative solutions and decentralized applications (dApps) within the crypto economy to enhance user engagement.

Developers building applications and other crypto solutions compatible with the Ethereum Virtual Machine (EVM) chain can utilize the MetaMask Delegation Toolkit for their projects. 

The toolkit is fully accessible across various EVM-supported networks, supported by a User Operation Bundler. Some of these protocols include popular blockchains like Arbitrum, Avalanche, Base, Linea, Optimism, and Polygon.

Streamlining Onboarding Processes

In addition to enhancing user experience, the MetaMask toolkit streamlines onboarding processes. 

It features capabilities that facilitate instant user onboarding without the need for extensions or application downloads. Additionally, the toolkit eliminates the requirement for seed phrase management.

As stated in the press release, the MetaMask toolkit is designed to enhance the user experience by “eliminating user friction completely”. This includes removing pop-ups and constant confirmation prompts, ensuring smoother interactions.

Moreover, the toolkit introduces advanced features for managing gas fees. Users can choose gasless transactions or adjust gas costs as needed, providing greater control and convenience in handling transaction expenses, and accommodating various preferences and requirements effectively.

Further Developments In Web3

MetaMask, along with its parent company ConsenSys, has been in the business of simplifying the Web3 economy and making it accessible globally.

Earlier this month, MetaMask secured a strategic partnership with Meld, a Web3 platform that prides itself as the “next-gen multi-chain crypto wallet for a new age of modern money and digital,” aimed at enhancing crypto adoption in Africa, Europe, and Northern America.

The collaboration will enable MetaMask to support additional payment solutions for buying and selling cryptocurrencies on these continents. 

ConsenSys also recently announced the acquisition of Wallet Guard, a security tool developed to protect users’ data and funds from malicious actors. 

The company said the acquisition aims to enhance user protection within the Web3 ecosystem by integrating Wallet Guard’s robust security features directly into MetaMask.

Bithumb lists BRETT and TAIKO in Korean won markets, trading to begin on July 9.

The listing has led to a price surge for both tokens, signaling a positive trend.

Bithumb’s trust score and active trading pairs indicate a strong market position.

On July 9, Bithumb, the second-largest crypto exchange in South Korea announced the launch of the Brett (BRETT) and Taiko (TAIKO) Korean won markets. The time scheduled for the launch was at 18:00 local time on July 9. 

Bithumb announced listing the tokens in Korean won markets through X (formerly Twitter) and a blog post. 

타이코(#TAIKO) 원화 마켓 추가 안내New Listing : $TAIKO will be added to the KRW market today.

For more details https://t.co/zRiM48GfDW#bithumb #Listing #KRWmarket #TAIKO @taikoxyz pic.twitter.com/cSg8Esho6x

— Bithumb (@BithumbOfficial) July 9, 2024

The exchange will begin accepting deposits by 03:00 PM and trading/withdrawal by 06:00 PM. TAIKO is a zkEVM Ethereum layer 2 network supported by Vitalik Buterin whereas Brett is a meme coin deployed on the Base chain.

According to CoinGecko, Bithumb holds a trust score of 7/10 and offers 295 coins and 305 trading pairs with USDT/KRW as the most active pair generating $74,159,213.00 in 24-hour volume. 

Moreover, the exchange’s 24-hour volume was reported at $676,231,935.33, a change of 58.51% in the last 24 hours and 6.32 Million monthly visits.   

Furthermore, listing Brett and Taiko tokens on the exchange would surge Bithumb’s value and performance in the cryptocurrency market. 

Brett Trading Support Details 

BRETT is a meme coin streaming on the Base blockchain, inspired by a character in the “Boy’s Club” comic. Currently, the base network will support the coinsits at a base price of 140 won. The number of deposit confirmations for the BRETT coin is 200.  

After a decline from $0.1617 on July 2 to $0.1096 on July 8, over a 26.00% drop in the past 7 days, the meme coin recorded a sudden rise just after the listing news.

At press time, the BRETT coin was trading at $0.1232, a change of 8.55% in the last 24 hours with $1.22 Billion in market cap and $55.42 Million in 24-hour volume. 

Taiko’s Current Performance 

TAIKO, an Ethereum layer 2 project based on technologies such as Based rollup, Contestable rollup, and Booster rollup, will be supported by the Taiko network at a base price of 2,938 won. The number of deposit confirmations for the TAIKO coin is 30. 

The announcement of token listing, surged TAIKO’s price by 10.15% in a day, trading at $2.28, at the time of writing. 

The token holds a market cap of $150,112,632 and $55,189,470 in 24-hour volume. Recently, the token was listed on Upbit, South Korea’s most trusted cryptocurrency exchange.    

Conclusion

Bithumb’s announcement of listing Brett (BRETT) and Taiko (TAIKO) tokens in Korean won markets has positively impacted their prices. 

BRETT, a memecoin, and TAIKO, a zkEVM Ethereum layer 2 network, have both seen significant price increases following the news. 

The platform’s robust trading volume and high trust score suggest that the addition of these tokens could enhance the exchange’s market performance.

South Korea’s largest cryptocurrency exchange Upbit said it has listed the altcoin named Ethereum Name Service (ENS).

Upbit, South Korea’s largest cryptocurrency exchange, started the day with altcoin announcements. 

At this point, Upbit announced that it would list a new altcoin and stated that this altcoin is Ethereum Name Service (ENS).

Upbit announced that it will list ENS on KRW trading pairs.

“On July 9, 2024, ENS will be added to the KRW market on Upbit.

Listing for ENS is planned on the KRW trading pair on the Ethereum network.

Be sure to check the network before depositing digital assets. Deposits and withdrawals via networks other than those specified are not supported.”

Following the news, ENS price increased by up to 20%.

Ethereum Name Service (ENS) is a decentralized naming system on the Ethereum network. Users can buy human-readable names like ‘bob.eth’ and map it to identifiers such as addresses, content hashes, and metadata.

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Hexagate, a Web3 security frontrunner, is launching The Gate Security Oracle, a decentralized security protocol built on the eOracle stack, the leading Actively Validated Service (AVS) on EigenLayer, as per the latest updates disclosed to Finbold on July 9. 

The collaboration introduces the first decentralized, machine learning-based security protocol to enhance trust within the decentralized finance (DeFi) community.

Yaniv Nissenboim, Co-Founder and CEO at Hexagate, commented on the groundbreaking innovation the partnership would bring, stating:

“In the past two years, we pioneered real-time proactive security and built a battle-tested ML and invariant monitoring engines that today protects over $50 billion in TVL across various protocols, chains, bridges, and asset managers. But a decentralized space also needs decentralized security. As a first move in this direction we decided to partner with eOracle as the OVS model represents a groundbreaking innovation to enable modularity in the middleware layer. We’re really excited about this, and fully believe it will spark a new wave of innovation in the space.”

Addressing Challenges In Decentralized Protocols

Trust and security are paramount in developing secure decentralized protocols, but many projects are forced to choose between decentralization and robust infrastructure.

The advent of EigenLayer’s AVSs, supported by billions of dollars worth of staked Ethereum (ETH), seeks to resolve these issues by leveraging the inherent security of staked Ethereum.

eOracle, a leading AVS protocol, utilizes re-staked ETH to ensure the security of its oracle network. 

With over $5 billion in staked ETH and the support of over 120,000 stakers and 110 globally distributed validators, eOracle is the most resilient crypto oracle solution.

Matan Si, founder of eOracle, commented on eOracle’s role in addressing these issues, stating:

“When we started building eOracle, we aimed to closely follow Justin Drake and Vitalik Buterin’s enshrined Oracle EIP proposals. However, we soon realized that while Ethereum provides an ideal architecture, it is not practical for most use cases. Heavy computation and fast connectivity require a dedicated, immutable layer. To address this, we developed eOracle as a modular and programmable layer designed for both data and computation. This system leverages Ethereum validators and staked ETH to ensure shared security. The future is modular and not just for blockchains but for middleware as well. Just as Layer 2 solutions have significantly broadened the scope of scalable applications, AVS will usher in a similar wave of innovation in the coming years. AVS are the new L2s.’’

eOracle’s DeFi Firewall

Built on the eOracle stack, The Gate Protocol Security Oracle leverages the Oracle Validated Service (OVS) model to help developers integrate Hexagate’s ML models and protect their on-chain protocols. 

This creates a native ‘DeFi Firewall’ that preemptively mitigates risks.

OVSs enhance blockchain modularity via fast connectivity and computational bandwidth, which allows protocols to maintain decentralization without sacrificing security.

Three Arrows Capital (3AC) did not close a bid on an NFT, finally spending 20 ETH on Neon Village.

3AC had a sizable NFT collection, which it had to liquidate for around $10.3M as part of its bankruptcy process.

The 2021 NFT craze apparently had some after-effects, as an old image was finally sold automatically for 20 ETH. The NFT was offered at an auction, before the final sale was approved through a smart contract. 

An NFT that held peak valuations in 2021 finally sold for 20 ETH. A wallet had posted enough funds to wait for the bid to be filled during the most competitive time of NFT trading. 

What is more curious, the wallet that bought the NFT may be linked to Three Arrows Capital. The crypto investment firm participated in some of the hottest trends before crashing along with the FTX exchange. 

oh my god. It’s the 3AC wallet https://t.co/gmTAvKSqho

— Brian (@0xBriann) July 5, 2024

The purchase of the NFT followed a trend, and even the FTX team admitted to buying all tokens and NFTs, hoping to score a winner. 

Neon Night NFT Previously Sold For 100 ETH

The NFT had sold for around $31 at an earlier auction, through the SuperRare platform interface. The entire Ninja Village collection has seen its floor go to zero. 

The Neon Village NFT is an ERC-271 token, generated by artist Seerlight. The NFT was minted on July 24, 2021, and received initial bids of 0.07 ETH and 7 ETH. 

The biggest resale success for this particular NFT was the purchase by @anonymoux for 100 ETH, back when ETH was also trading close to $3,800. It was @anonymoux that finally accepted the dormant bid.

Blockchain data confirms that the buyer placed an offer of 20 ETH for token ID # 26497 (Neon Village) on Aug. 21, 2021, nearly two years and 11 months before it was accepted by the seller.

On the Arkham Intelligence platform, the buyer account sent 2,615.65 ETH (worth $7.8 million at the time) to Three Arrows Capital on Aug. 1, 2021, which implies that the account is either owned by the hedge fund or is one of its creditors or debtors.

The artist who created the NFT, @seerlight, was last active in 2022, right before one of the biggest disasters wiped out the NFT market and other crypto projects. The NFT created by @seerlight relied on exclusive images that took weeks to complete. 

'High-Rise' This piece took 7 weeks of my life to complete Do you prefer the original anime or Netflix adaptation? pic.twitter.com/8WaZUVZAXZ

— SeerLight (@seerlight) January 17, 2022

On the SuperRare platform, SeerLight has 22 creations, the highest successful sale of which was 150 ETH, resold on August 2, 2023. 

The next bid from August 2021 was placed in escrow, while all other funds belonging to 3AC are now in conservation after the 2022 bankruptcy. 

The bid record on the Ethereum blockchain reveals the wallet address. Arkham has identified that same address as a known entity. It is one of the wallets of 3AC, which is now down to $23.98. The wallet’s biggest holding is 8.8M CIA tokens, with a value of around $21.

All other 3AC funds were moved to the Teneo conservatorship wallet, which now holds more than $229M. 

The 3AC fund was no stranger to hot NFT collections. One of its most notable hauls was Pudgy Penguins. This collection hinged on a simple set of images that nevertheless went on to appreciate and trade with significant activity. Pudgy Penguins is also in the top 3 collections with a floor price above 10 ETH. 

3AC Forced To Liquidate Its NFT Collection To Pay Out Creditors

Unfortunately, 3AC’s early-bird bid did not pay out. The defunct fund was used to liquidate the NFT at a lower price. 3AC reportedly owned 100 Pudgy Penguins and sold them just before their valuation peaked at 50 ETH for some of the most valuable images.

Reportedly, 3AC was deep into NFT, also owning the obligatory blue chips, Cryptopunks and BAYC. Since the NFT themselves held no utility, 3AC looked for ways to use the items as collateral and find liquidity in decentralized products. 

Some of the 3AC NFT may still be held by counterparties like Nexo, which at one point negotiated to use the valuable NFT as collateral. 

For 3AC, perhaps the riskiest move was to borrow crypto and use it to buy any emerging collection that minted during the 2021 boom. 

The entire 3AC crypto collection was resold by Sotheby’s, with some Punks going as high as $6.2M and still used as an avatar on active crypto social media accounts. 

Nansen estimated the whole liquidation of the NFT collection at around $10.3M, with some items carrying the bulk of the value.

Ripple, the XRP Ledger (XRP) developer and largest holder, spent 150 million XRP from this month’s reserves on July 9. 

The sale is worth $64.5 million, $13.5 million less than the same activity last month, as reported.

On July 1, the company released 1 billion XRP from the initial distribution, locked in monthly escrows until 2027. Ripple then sent 200 million XRP to its treasury account and relocked the remaining 800 million in new escrows.

Additionally, the ‘Ripple (35)‘ account sent an extra 100 million tokens to the sell-off reserves, totaling 300 million XRP.

Ripple (1) account summary, assets, transactions

 

As usual, the selling activity resulted from the treasury account, labeled ‘Ripple (1),’ sending tokens to the unlabeled account ‘rP4X2hTa‘. This action causes XRP supply inflation—by putting tokens that have never circulated before into circulation for the first time.

rP4X2hTa7A7udDbE6wczXvPz7XZ63sKxv3 account summary, assets, transactions.

 

So far, 100 million tokens still remain in the ‘rP4X2hTa’ account. However, 50 million are already left to ‘rhWt2bhR‘, another usual intermediary address, before landing in cryptocurrency exchanges, as has happened in previous months.

XRP Price Analysis Amid Ripple Sell-offs

It is noteworthy how Ripple sales directly impact XRP’s price, considering the supply pressure they create on the spot market. Historically, XRP suffered a local crash most of the time Ripple sold its tokens.

XRP-USD daily price chart, with Ripple dump activity

 

Year-to-date, only five of the 14 sell-off days had positive price action: February 5, 11, April 14, May 13, and 20. All nine other days were of local crashes, evidencing the importance of monitoring the company’s activities.

Moreover, XRP had a negative monthly performance in four of the first six months of 2024. So far, Ripple has sold 1.676 billion XRP this year, inflating the supply by 3.10%.

As of this writing, XRP trades at $0.43, down 30% year-to-date and 17% from June 7’s selling activity.

XRP Price Chart | Source: Coinstats

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has announced the launch of the Bybit Card in Argentina, according to the latest information shared with Bitcoinworld on July 9. 

Bybit Card Welcome Packs And Bonuses

To celebrate the launch, Bybit is offering welcome packs and bonuses. 

New users who apply for a Bybit Card will receive a generous 10,000 ARS card bonus and be able to enjoy up to 10% cashback on all expenses. 

Existing cardholders who add their Bybit Card to major local payment platforms like Mercado Pago will also receive an additional 10% cashback on all purchases.

As such, the card aims to bridge the gap between digital finance and everyday transactions, providing users with a seamless experience.

Joan Han, Sales and Marketing Director of Bybit, commented on the significance of the card launch, stating:

“The introduction of Bybit Card to Argentina signifies an important milestone for both Bybit and the local community. Argentina’s rapid growth in digital assets has created a demand for innovative solutions that enhance financial inclusivity and convenience. We are excited to bring the Bybit Card to Argentina, offering our users a unique opportunity to benefit from the growth of digital assets while enjoying the convenience of everyday spending.” 

The Bybit Card seamlessly blends digital finance with everyday transactions, making it easier for users to spend their digital assets.

Zurich, Switzerland – July 10, 2024 –  $PONZIO, a meme token by Ponzio the cat, introduces its smart debase mechanics. This project’s architecture, particularly its tokenomics, redefines the industry standard and further expands the bounds of what’s possible within the niche of memecoins. For the first time, a token has been programmed to solely increase in price, as shown on the chart. This has never been done before due to technological obstacles experienced in the crypto space.

Notably, the project’s halving timing is comparable to that of other cryptocurrencies, but it is completed in a faster time frame, putting $PONZIO ahead of the pack. As a result of this development, holders of the token profits from its long-term growth. 

 

Further, $PONZIO doesn’t end with a decrease in supply. The project also rewards investors who add to the liquidity pool and stake their tokens. This further promotes community involvement and long-term holding, thus boosting the token’s liquidity. 

 

These creative strategies used by $PONZIO have already drawn in close to 1,000 holders, demonstrating the trust of the expanding community behind the project. 

 

One of the most appealing aspects of $PONZIO is its sizable liquidity pool, which now stands at a staggering $7 million on Uniswap. Such large liquidity reflects the market’s belief in the project and lays the groundwork for reduced price swing, ease of entry and exit, and general market confidence. 

 

Ponzio the Cat established this unique meme project, and since its inception, more than 50 ETH has been burned in the liquidity pool simply for its pure pleasure. As much as this move challenges industry conventions and illustrates the project’s commitment to value creation, it also adds suspense to the $PONZIO story of fortune. 

 

$PONZIO is more than just another meme coin among the many others that exist in the industry, rather, it features a distinctive mechanism for l its token value positively and ensuring liquidity.   

 

About $PONZIO

$PONZIO is a meme token created by Ponzio the Cat, with an innovative design that increases its token value over time. Having designed a one-of-a-kind halving process, lucrative staking structure, and strong community support, $PONZIO intends to make its imprint on the cryptocurrency market clear and straightforward – to create value for its token and its community.

Follow us on social media:

Twitter: https://x.com/PonzioTheCat

Github: https://github.com/PonzioTheCat/contracts

 

Contact

Name: R. Astley

Website: https://ponzio.io/

Email: r.astley@gmail.com

Company: Ponzio

Warsaw, Poland, July 10th, 2024, Chainwire

Flipster, a cryptocurrency derivatives trading platform, is celebrating its 1st anniversary by launching two competitions and giving away 150,000 USDT worth of prizes. 

Since its launch, the Flipster platform has been fueled by a 1,943% trading volume growth and 3,998% net asset growth. These figures accompany an equally impressive 190% sign-up growth, and a 565% growth in active traders, with users spanning across 177 countries, reflecting strong user retention and platform satisfaction.

A fast-growing cryptocurrency trading platform, Flipster has a daily trading volume exceeding $480,000,000, according to CoinMarketCap data as of the date of this release.

Source: CoinMarketCap

Platform Highlights

Wide variety of crypto: Traders can access over 250 perpetual futures listings with leverage of up to 100x, including tokens not readily found on other futures trading platforms and some with low visibility in spot markets, offering more diversification opportunities.

Zero Trading Fees: Our zero trading fees allows traders to maximize their profits by eliminating transaction costs, making Flipster attractive for retail users seeking the best prices compared to other exchanges.

High Liquidity: Flipster offers narrower bid-ask spreads and higher liquidity than larger trading platforms, facilitating seamless trading regardless of market conditions.

The past year has been packed with top-tier partnerships to bring the Flipster trading experience to a whole new level, including TON (The Open Network), Over Protocol, and Scallop (SCALLOP).

Flipster’s commitment to being the fastest trading platform to offer the world’s first perpetual futures listings on the latest cryptocurrencies, with recent listings including ZRO, ZK, AEVO, BLAST, and ETHFI, appeals to serious traders looking to elevate their crypto game. 

The Flipster team aims to continually reimagine what exists in the crypto space to unlock unprecedented value for users. Through its Earn Campaign, users can trade while earning a 20% APR* (varies daily) on their USDT wallet balance simultaneously, with no lock-up period and automatic daily reward distribution. Other latest innovations include multi-position trading, launchpool, and position airdrops. 

User safety and asset security comes first on Flipster. The trading platform adheres to strict Anti-Money Laundering (AML) and Know Your Customer (KYC) protocols. Industry standard security measures such as two-factor authentication is compulsory for all user accounts, and the Flipster team performs continuous monitoring of all transactions for suspicious activity. To protect users’ accounts, Flipster continuously updates and improves its security measures in response to emerging threats and technological advancements, and performs ongoing security assessments and compliance checks. 

Source: https://flipster.io/support/proof-of-reserves

As part of its commitment to transparency, Flipster conducts regular audits of its reserves and has published its Proof of Reserves (PoR) on its website. PoR is a form of verification that ensures all user assets held on Flipster’s platform are fully backed on a 1:1 basis and are securely managed. The safeguarding of their assets is always a top priority for Flipster. By doing this, users can easily authenticate that their assets are fully accounted for, reinforcing the trust and confidence they have in Flipster, and giving them peace of mind.

To celebrate this 1st anniversary milestone and appreciate the community’s support, Flipster is excited to announce two competitions, with prize pools of 75,000 USDT each. Users can take part in a trading volume competition or profit and loss (P&L) trading competition from 17 July 2024 at 00:00 UTC to 25 July 2024 at 00:00 UTC. 

Be among the first 12,000 users to register for each competition from 10 July 2024 at 00:00 UTC to 25 July 2024 at 00:00 UTC for participation eligibility. To claim rewards, users need to contribute a trade volume value of at least 10,000 USDT. The top 200 traders for each competition can get their share of rewards. For more information, click here.  

Flipster plans to host in-person meet-ups, offline events, social media contests, and more trading competitions. Stay tuned for more information.

About Flipster

Flipster is among the fastest-growing crypto derivatives trading platforms, offering lightning-fast perpetual futures listings on the latest cryptocurrencies. The easy-to-use platform provides users with an all-in-one trading experience with leverage of up to 100x on over 250 tokens with high liquidity and zero trading fees. For media enquiries or interview requests with the team, please reach out to pr@flipster.io.

Contact

Marketing SpecialistShirlyn TanFlipsterpr@flipster.io

Los Angeles, United States, July 9th, 2024, Chainwire

Phoenix Memecoin ($PHNX) is gaining attention for its unique combination of innovative technology and a strong, community-oriented approach.

About Phoenix Memecoin ($PHNX)

Phoenix Memecoin ($PHNX) is a new cryptocurrency designed to symbolize rebirth and innovation within the crypto world. Supported by a dedicated and rapidly growing community, Phoenix Memecoin aims to offer stability and long-term growth through its thoughtful tokenomics and strategic planning.

Key Features of Phoenix Memecoin ($PHNX)

Thoughtful Tokenomics: Phoenix Memecoin ($PHNX) employs a carefully designed tokenomics strategy to ensure stability and growth. The total supply of tokens is limited, providing a sustainable foundation. The presale offers tokens at a fixed rate of 2000 PHNX per 1 Solana (SOL), with a purchase limit of 30 SOL per wallet to promote broad participation and prevent market manipulation.

Strategic Fund Allocation: Funds raised from the presale are allocated to liquidity, team development, exchange listings, partnerships, marketing, and token buyback and burn. This diversified approach aims to support the project’s long-term success.

Community and Transparency: The Phoenix Memecoin team prioritizes transparency and community involvement. Active community members and content creators are rewarded for their contributions. Token holders can access exclusive content and events, enhancing engagement and value for the community.

Roadmap and Governance: Phoenix Memecoin has a detailed roadmap outlining its plans, including presale, DEX listings, community events, and rewards. Governance mechanisms allow token holders to participate in project decisions, fostering a collaborative environment.

Experienced Team: The project is led by a team of four developers with extensive experience in cryptocurrencies and a commitment to transparent communication. The team holds a modest 6% of the total tokens, ensuring that the focus remains on community growth and project sustainability.

Phoenix Academy: The Phoenix Academy on the project’s website offers free educational resources on cryptocurrencies, providing valuable knowledge without financial commitment.

For More Information

Website: www.phoenixonsol.com

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The recent increase in power fees enacted by the National Power Administration of Paraguay (ANDE) has bitcoin mining firms seeking alternatives in neighboring countries, such as Argentina and Brazil. 

A joint venture between Argentine and Brazilian companies recently announced an 8 MW initiative aiming to generate 200 MW by 2026, and more will migrate according to industry insiders.

Paraguay Facing Bitcoin Mining Exodus Due to Power Fee Increase

Paraguay is at risk of having a large part of its Bitcoin mining industry vacated. 

According to industry insiders, the recent power fee increase for bitcoin mining operations is making companies reconsider their permanence in the country due to better conditions in other countries. 

Industry insiders have reported that the 14% increase might be too much for some companies already seeking alternatives in countries like Brazil and Argentina.

One of these projects is a joint venture between Argentine and Brazilian companies, that will now settle in the Zapala region in Argentina, to take advantage of the energy incentives for companies setting up there.

The joint venture between “Zapala Mining” and “Patagonia 360” will seek to exploit the possibilities for bitcoin mining by taking advantage of non-conventional energy exploitation methods in Vaca Muerta, one of the biggest oil fields in Argentina.

The project seeks to reach a generation of 200 MW by 2026, starting with 8 MW in October. Nonetheless, this is not the only project seeking to migrate to other countries after the recent fee hike. 

Fernando Arriola, president of the Paraguayan Fintech Chamber, declared that several companies had already signed documents to take their business to Argentina.

Arriola stated:

“Around six of our partners have already obtained contracts in Argentina, since energy prices are more convenient. The cost varies between 28 to 37 dollars.”

Arriola also assessed that the migration is imminent given the current conditions in Paraguay and that only certain difficulties in importing bitcoin mining gear might prevent it. 

“Beyond that, I see a migration from Paraguay to Argentina and Brazil in the next six months, without a doubt,” he stressed.

What do you think about the migration of bitcoin mining companies from Paraguay to Argentina and Brazil? Tell us in the comments section below.

The access to Hamster Kombat tokens on Bybit’s OTC pre-market platform allows users to secure HMSTR tokens ahead of the market and to lock in their purchase early.

Cryptocurrency exchange Bybit is advancing its support for emerging projects on the Telegram Open Network (TON) by listing the token for the record-breaking game Hamster Kombat for pre-market trading.

Bybit on July 8 officially announced the listing of the Hamster Kombat (HMSTR) token on its over-the-counter (OTC) platform, Bybit Pre-Market Trading.

The platform is designed for trading new tokens before their official listing, enabling buyers and sellers to establish quotes and execute trades at predetermined prices.

HMSTR Debuted Trading On Bybit’s Pre-Market Platform On July 8, 2024

According to the announcement, Bybit’s pre-market OTC platform launched trading for HMSTR on July 8 at 10:00 am UTC. Details of the delivery schedule will be released shortly, the exchange said.

HMSTR prices on Bybit Pre-Market Trading on Jul 8, 2024.

 

Bybit stressed that the inclusion of HMSTR tokens on its pre-market platform represents a “significant step forward,” providing users with the chance to get their hands on HMSTR tokens before they become listed for spot trading. 

The firm added:

“This exclusive access allows users to secure HMSTR tokens ahead of the market and to lock in their purchase or sale prices early, marking an innovative advancement in our trading offerings.”

Will Pre-Market Trading Affect HMSTR’s Listing Price?

While HMSTR is now listed on Bybit Pre-Market Trading, it’s unknown when the Hamster Kombat’s token will start spot trading.

“While pre-market trading may reflect market expectations, the official listing price itself may be influenced by other different factors,” Bybit said on its website regarding pre-market trading, adding:

“It is worth noting that both the pre-market price and the official listing price are ultimately determined by the market and there is not necessarily a direct correlation between the two.”

According to data from Bybit Pre-Market Trading, the pre-market price of HMSTR has been varying between around $0.001 and $0.1 at the time of writing, quoted in Tether USDT.

Hamster Kombat is a tap-to-earn, or clicker, game on Telegram in which players take on the role of a CEO running a virtual cryptocurrency exchange. 

Since its launch in March 2024, the game has been breaking records in terms of engagement, with Hamster Kombat creators claiming that the game is the third-fastest app in history to reach 150 million users.

Hamster Kombat Is Often Referred To As The “Next Notcoin”

The launch of Hamster Kombat followed the success of another Telegram-based clicker game and the eponymous token, Notcoin (NOT). By the time of spot trading listing in mid-May 2024, Notcoin amassed 11.5 million holders.

Before the spot trading listing, Notcoin was also listed on Bybit Pre-Market Trading. According to the platform, the last traded pre-market price of Notcoin was $0.0059.

After debuting trading at around $0.007 on May 16, Notcoin surged to as high as $0.2 by June 1, according to data from Coinstats. 

At the time of writing, NOT is trading at $0.01585, down about 16% over the past 30 days but up around 25% over the past 14 days.

NOT Price Chart | Source: Coinstats

Ubisoft, the French AAA game developer, has recently announced a partnership with Double Jump.Tokyo, a Web3 gaming company, to accelerate the implementation of Web3 elements in their games. 

As a first step, Double Jump.Tokyo will issue NFTs for Champion Tactics, a game still in development, on top of Home Verse, an Oasys L2 structure with zero gas fees.

Ubisoft Teams With Double Jump.Tokyo to Bring Web3 Elements to Its Games

Ubisoft, a France-based AAA gaming publisher and developer, is pushing its Web3 and blockchain agenda. Last week, the company inked a partnership with Double Jump.Tokyo, a developer specializing in Web3 elements and gaming, to implement such elements in some of its games moving forward.

The first part of this partnership involves the issuance of non-fungible tokens for Champions Tactics, a tactical role-playing game (RPG) currently still under development at Ubisoft. 

For this task, Double Jump.Tokyo will leverage Home Verse, an L2 structure on top of Oasys, a gaming-oriented blockchain, given its high transaction speeds and zero gas fees.

Ubisoft has been consistent in trying to add Web3 elements to some of its franchises, having received mixed reactions so far. 

The company has invested in Web3 startups such as Animoca Brands and also launched an in-house NFT platform in 2021.

On the benefits of this particular alliance, Didier Genevois, Ubisoft Web3 Technical and Product Director, stated:

“We’re always on the lookout for new partnerships that take gaming and entertainment to the next level. We think this partnership will offer valuable insights on how decentralized technology can mix with gaming.”

Double Jump.Tokyo will help the project reach Asian gamers more easily, facilitating the entrance to the Asian market. 

“Partnering with a renowned global industry leader like Ubisoft empowers us to continue our unwavering pursuit of delivering exceptional games to communities while accelerating the worldwide adoption of web3 gaming technology,” said Hironobu Ueno, CEO of Double Jump.Tokyo.

Ubisoft and Double Jump.Tokyo are both validators of Oasys, the blockchain that hosts Home Verse.

What do you think about the partnership between Ubisoft and Double Jump.Tokyo? Tell us in the comments section below.

Like Hulk Hogan, 50 Cent and Metallica before her, the X account of rap superstar Doja Cat was allegedly hacked to pump $DOJA meme coin.

American rapper and singer Doja Cat has joined the growing ranks of celebrities to have her account on Twitter (aka X) hacked to promote a Solana-based meme coin. She quickly announced to her 24 million followers on Instagram that she was not responsible for the posts.

The Doja Cat account began tweeting crypto content at 7:15 pm ET on Monday, with the first post linking to a holding address with a message imploring users to “buy $DOJA or else.”

The hacker has posted more than two dozen times and removed Doja Cat’s profile picture and description from her account, which has some 5.6 million followers.

Twitter users were quick to flag the tweets as being the result of a hacked account.

The hacker posted about other celebrities, including Iggy Azalea, who has apparently embraced crypto and tweets frequently about her $MOTHER meme coin and Crypto Twitter.

In response to the Doja Cat hack, Azalea tweeted, “Get rugged if yall want, but I’m cool with that girl in real life so yall fucked up with that tweet, hackers.”

According to blockchain records and market data, the new $DOJA token—housed on Solana market maker Raydium—appears to have seen relatively muted activity compared to prior incidents, with fewer than 15,000 transactions generating about $2.2 million in volume.

It’s the latest in several incidents involving hacked social accounts belonging to celebrities, usually with tens of millions of followers, and involving Solana-based meme coins.

Last month, the Twitter account of former wrestling star Hulk Hogan was compromised to promote a similar scam. 

That was followed by the account belonging to rapper 50 Cent getting compromised and Metallica a week later.

The crypto community has raised the alarm about an ongoing phishing scam targeting crypto investors after scammers posing as crypto exchange Coinbase successfully drained nearly $2 million over the weekend. 

The scam is reportedly related to the CoinTracker security breach from 2022.

$1.7 Million Drained From Ledger Wallet

On Monday, Edge & Node’s CEO, Tegan Kline, reported that a crypto investor had fallen victim to a phishing attack. 

The scammers impersonated a Coinbase security member to target crypto investors. As a result, a user’s self-custody wallet was drained after revealing half of their seed phrase.

Per the report, a crypto investor was contacted via Google Voice by a scammer pretending to be from the crypto exchange’s security team. The scammer, falsely claiming to be named “David Brown,” contacted the victim to “confirm” suspicious transactions from their account.

CT, a member of the community urgently needs your help.

$1.7 Million stolen – A good friend's self custody wallet was drained by a scammer yesterday, July 6th.

TLDR of how it went down below (3 pages)

You can find the Ethereum transactions with links in the comment below.… pic.twitter.com/OTx3wslz6R

— Tegan.eth , (@theklineventure) July 7, 2024

The victim received an email from a fake Coinbase address “verifying” that the person on the phone was an official exchange representative. 

The crypto investor received another email after verification claiming their alleged transaction had been delayed.

The email shows that a transaction for $3,050.87 in Ethereum (ETH) had been delayed for 72 hours for “security reasons.” The scammer continued the call, talking to the victim about their previous addresses, which raised suspicions.

When questioned about their identity and the information he disclosed, the scammer stated that he “knows these things because he is from Coinbase.” The alleged Coinbase representative acknowledged the victim’s concerns but claimed the transaction was still coming through.

The scammer claimed to need the victim’s seed phrase as their Ledger wallet was connecting directly to the blockchain, and he was “trying to disconnect it.” 

After directing the victim to a website, they argued with the scammer about the safety of this action but eventually entered a portion of their seed phrase.

A few hours later, the investor received CoinTracker alerts. Upon checking their Ledger live, the victim saw that $1.7 million had been drained in Bitcoin (BTC), ETH, GRT, MATIC, and DOT.

CoinTracker Breach Linked To New Phishing Scam?

Many community members speculated about the scam, wondering how the scammer obtained some of the victim’s information. 

To some, this scheme was conducted by someone who knew the investor and their holdings.

However, Alex Miller, CEO of Hiro, suggested that the scam was linked to the CoinTracker security breach from 2022. The data breach compromised the information of over 1.5 million users who used the cryptocurrency portfolio and tax management platform.

If your info was in the Cointracker breach a few months ago make sure your Coinbase account is locked down.

Just got a call from Coinbase security that someone was trying to access my account, using info gleaned from that breach.

Specifically they were using the coinbase API…

— Alex Miller (@alexlmiller) July 7, 2024

Miller revealed that someone was trying to access his Coinbase account using information obtained during the CoinTracker breach.

Never enter any information into a site you have a bad feeling on – even if you never hit submit, the bad guys are capturing data as you enter it.

sounds like this user put in part of his seed phrase, which was enough to reduce the entropy and the bad guys brute force the rest. https://t.co/NMpeLcHmdv

— Alex Miller (@alexlmiller) July 8, 2024

The scammers seemingly used Coinbases’ API key, alongside other information, to verify they were the CEO. Nonetheless, the crypto exchange’s security team informed him of the ongoing login attempt.

An X user informed the community that scammers were able to “generate a (legitimate) support ticket + email” that could be used to “reference when calling you posing as Coinbase support.”

as of a few months ago they were also able to generate a (legitimate) support ticket + email which they could then reference when calling you posing as coinbase support which seems like a massive security flaw, not sure if they still allow ticket creation with just an email

— █̶̳̘͛̄̃͒̄̃͜█̴͇̱̅͒̅█̵̻̣̝͒̈̄̈͝͝█̴̞̜̻̝͍̂̽͜█̴̵̴̶̸̡̨̢̞̜ (@SHL0MS) July 8, 2024

Other users shared their scamming attempts from this month. Several investors reported receiving calls from alleged Coinbase representatives to confirm suspicious transactions or login activity.

Ultimately, Miller suggested users “make sure your Coinbase account is locked down” and “cycle your API keys if you have been using cointracker.”

Bitfarms Ltd (Nasdaq: BITF), a global bitcoin mining company, has appointed Ben Gagnon as chief executive officer (CEO), effective immediately. 

Gagnon, previously chief mining officer, has significantly contributed to Bitfarms’ growth over the past five years, the company said. 

Chairman Nicolas Bonta praised his leadership and strategic impact, highlighting plans to leverage Gagnon’s expertise to diversify into energy generation, heat recycling, energy trading, and high-performance computing (HPC) for artificial intelligence (AI). 

Meanwhile, Riot Platforms is attempting to acquire Bitfarms, aiming to merge and create the largest publicly listed bitcoin miner. 

This hostile takeover attempt includes calls for changes in Bitfarms’ leadership and has led Bitfarms to adopt a “poison pill” strategy to fend off Riot’s advances.

The DigitalX spot Bitcoin ETF will become the exchange’s second such product following VanEck’s ASX listing on June 20.

Perth-based crypto fund manager DigitalX said Monday it has received regulatory approval to begin listing its spot Bitcoin exchange-traded fund on the country’s largest stock exchange as early as this week.

The DigitalX spot Bitcoin ETF (BTXX) will become the Australian Securities Exchange’s second, following VanEck’s listing on June 20.

The product will provide ASX customers with direct access to Bitcoin “via a regulated and liquid fund structure,” DigitalX CEO Lisa Wade said in a statement.

Trading will commence on Thursday at 8:00 pm ET with K2 Assessment Management acting as the “Responsible Entity and Issuer.” Digital asset investment firm 3iQ and DigitalX will help promote and distribute the ETF domestically and abroad.

The ASX, which accounts for roughly 80% of the country’s equities trading volume, is considered by investors to be more liquid and broadly accepted than its main rival, Cboe Australia.

Getting a listing on the ASX typically involves ensuring that the ETF meets all regulatory requirements, including disclosures, financial standards, and compliance with exchange rules.

Once approved for quotation, the ETF is officially listed on the exchange, allowing public trading to commence on the specified start date.

Unlike VanEck’s VBTC, which provides exposure to Bitcoin by investing in the VanEck Bitcoin Trust (HODL), a U.S.-listed ETF on the Cboe exchange, DigitalX’s offering is not beholden to U.S. politics, according to a person familiar with the matter.

That should insulate Australian investors from developments in the U.S., as BTXX is only answerable to Australia’s domestic rules and laws, unlike other Bitcoin fund offerings, they said.

While it is set to be the second of such a listing on the ASX, Australia is no stranger to similar products, stretching back over two years.

In April 2022, Global X 21Shares’ Bitcoin ETF (EBTC) launched on Cboe Australia, which became the first product to debut in the country using a wholesale-retail feeder fund structure.

Shortly after, Cosmos Asset Management introduced the Cosmos Purpose Bitcoin Access ETF, which was later delisted due to market instability following the collapse of Terra/Luna and large crypto lenders.

While the crypto market downturn put future domestic listings on hold, Sydney-based Monochrome Asset Management kicked things off again this year by listing its own product, IBTC, on the Cboe Australia exchange on June 4.

That was followed by VanEck’s offering two weeks later.