The cryptocurrency exchange landscape is undergoing a significant shift. While centralized exchanges (CEXs) like Binance and Crypto.com have dominated for years, they are facing increasing competition from smaller rivals and a growing trend towards decentralized exchanges (DEXs).

Binance, the undisputed king of crypto exchanges, has witnessed a 13% year-over-year decline in spot trading volume, dropping from 52.5% in October 2023 to its current 39.5% market share. This decline is mirrored in the derivatives market, with Binance’s share shrinking by 8.4% to 42.5%.

Smaller players like Bybit, Bitget, and OKX are seizing this opportunity to grab a larger slice of the pie. Bybit, in particular, has experienced a meteoric rise, surging from the 7th spot with a 3.2% market share to become the second-largest exchange with an impressive 8.51% share.

Bitget, another fast-growing contender, attributes its success to a focus on user-centric development, strategic partnerships, and educational initiatives. Their collaboration with sports celebrities like Lionel Messi and global teams like Juventus has been instrumental in building brand recognition and attracting new users.

Crypto.com, another major CEX, hasn’t fared as well. Their market share plummeted from a respectable 15% in October 2023 to below 4% by February 2024. This decline allegedly coincided with surges in market share for both Binance and Upbit, highlighting the unforgiving nature of the competitive landscape.

DEXs are emerging as a formidable force, challenging the dominance of centralized exchanges. Over the past year, DEX trading volumes have skyrocketed, even surpassing the monthly $250 billion mark in March and June, reaching a level not seen since late 2021. This growth signifies a growing preference for trustless, peer-to-peer trading facilitated by DEX platforms.

Despite the rise of DEXs, centralized exchanges still hold a significant advantage in terms of overall trading volume. The 22 largest CEXs processed a staggering $54 trillion worth of transactions in the past year, with Binance accounting for over $22.5 trillion alone.

However, the growing popularity of DEXs presents a unique challenge for CEXs. Binance’s recent upward trend in market share might suggest a temporary reprieve, but its competitors like OKX, Bybit, and Bitget are not far behind. Additionally, the sustained growth of DEX trading volumes paints a picture of a more decentralized future for cryptocurrency exchanges.

The future of cryptocurrency exchanges is in flux. While the established CEX giants are still formidable, their dominance is being challenged by a growing number of smaller, more nimble players. The rise of DEXs further complicates the picture, introducing a trustless and decentralized alternative for crypto traders. It will be interesting to see how CEXs adapt and innovate to stay relevant in this evolving landscape.

Stripe, a leading payment processing company, has reportedly acquired Bridge, a stablecoin-based payments network, for $1.1 billion. This acquisition marks a significant milestone for both companies and highlights the growing importance of stablecoins in the digital payments landscape.

Stripe has acquired Bridge for $1.1 billion, making it one of the largest acquisitions in the crypto space.

The acquisition aligns with Stripe’s expansion into stablecoin payments and its broader goal of providing comprehensive payment solutions.

This deal is done. $1.1b https://t.co/J7ppK4uHw0

— Michael Arrington 🏴‍☠️ (@arrington) October 20, 2024

Bridge is a relatively new company founded by former Coinbase executives, Zach Abrams and Sean Yu. It offers a stablecoin-based payments network that competes with traditional payment systems like SWIFT.

The acquisition of Bridge reinforces Stripe’s commitment to stablecoins as a crucial component of its payment services.

Stripe’s acquisition of Bridge has several implications for the cryptocurrency and payments industry:

Increased Adoption of Stablecoins: The deal could accelerate the adoption of stablecoins as a mainstream payment method, especially for businesses using Stripe’s platform.

Competition with Traditional Payment Systems: Bridge’s technology and expertise can help Stripe compete more effectively with traditional payment providers like Visa and Mastercard.

Synergy with Stripe’s Existing Services: The combination of Stripe’s payment processing capabilities and Bridge’s stablecoin infrastructure can create a powerful synergy, offering businesses a comprehensive solution for their payment needs.

Stripe’s acquisition of Bridge is a strategic move that positions the company as a major player in the stablecoin and digital payments space. This deal could have a significant impact on the adoption and growth of stablecoins, as well as the broader cryptocurrency industry.

Tether, the world’s largest stablecoin, has surpassed the $120 billion market capitalization mark for the first time. This surge in USDT supply could be a positive indicator for the cryptocurrency market, potentially fueling a Bitcoin rally.

Historically, October has been a bullish month for Bitcoin, with average returns exceeding 21%. The growing supply of USDT, coupled with the positive historical trend, suggests that a Bitcoin rally may be on the horizon.

The movement of USDT from Tether’s treasury to centralized exchanges (CEXs) indicates strong investor interest and potential buying pressure. This influx of stablecoins can fuel a rally in the broader cryptocurrency market, including Bitcoin.

While the growing USDT supply and positive historical trends suggest a potential Bitcoin rally, it’s important to consider other factors that could influence the market. The recent decline in Ethereum DApp volumes and the potential impact of Ethereum ETFs on Bitcoin’s price dynamics should also be taken into account.

To confirm a potential breakout, Bitcoin needs to close above $68,700. This technical level serves as a crucial resistance point that, if breached, could signal a significant upward move.

The growing supply of USDT and positive historical trends in October suggest that a Bitcoin rally may be imminent. However, various factors, including on-chain activity, Ethereum ETFs, and technical analysis, should be considered when assessing the potential for a breakout. Investors should closely monitor these indicators to make informed decisions about their cryptocurrency investments.

Worldcoin, the decentralized identity project founded by Sam Altman, has launched its new blockchain network, World Chain. This development marks a significant milestone for the project, which aims to revolutionize digital identity and promote crypto adoption.

World Chain will prioritize verified human users who possess a World ID, granting them access to block space and free gas allowances.

The blockchain will feature a roster of top applications and projects, including Optimism, Uniswap, Zerion, and Alchemy, to enhance its functionality and interoperability.

Worldcoin has also introduced a new version of its biometric device, the Orb. This upgraded device is powered by Nvidia hardware, making it more efficient, powerful, and compact. The new Orb will enable users to verify their identity more conveniently and securely.

Worldcoin has expanded its identity verification options to include partnerships with social media apps like FaceTime, WhatsApp, and Zoom. This will provide users with more flexibility and convenience when registering for a World ID.

Worldcoin’s mission is to address the challenges of digital identity in the age of AI. By providing a secure and verifiable identity solution, Worldcoin aims to empower individuals and promote financial inclusion. The launch of World Chain and the enhanced Orb device are key steps towards achieving this goal.

Worldcoin’s launch of its new blockchain and the upgraded Orb device demonstrate the project’s commitment to innovation and growth. As the company continues to expand its offerings and partnerships, it has the potential to become a leading player in the decentralized identity space.

The United States Department of the Treasury has leveraged artificial intelligence (AI) to recover a significant amount of taxpayer money lost to fraud and improper payments. In the 2024 fiscal year, AI-powered tools helped the Treasury recover nearly $4 billion, a substantial increase from the previous year’s recovery of $652.7 million.

The Treasury’s adoption of AI has proven to be a game-changer in the fight against fraud. By analyzing vast amounts of data and identifying patterns and anomalies, AI has enabled the Treasury to uncover hidden fraud schemes and prevent further losses.

Fraudsters are constantly evolving their tactics to evade detection. AI provides the Treasury with the necessary tools to stay ahead of these sophisticated criminals and protect taxpayer funds.

The Treasury recognizes its responsibility to safeguard taxpayer money and has taken proactive steps to enhance its fraud detection and prevention capabilities. By utilizing AI, the Treasury is demonstrating its commitment to protecting the financial integrity of the government.

Online payment fraud is a significant and growing concern. According to Juniper Research, the cumulative losses from online payment fraud are expected to exceed $362 billion by 2028.

The Treasury processes a massive volume of payments annually, making it a prime target for fraudsters. By employing AI, the Treasury can more effectively detect and prevent fraudulent activities, protecting both taxpayers and the government’s financial resources.

The Treasury is not the only government agency utilizing AI to combat fraud. The Internal Revenue Service has also deployed AI to detect tax evasion by analyzing complex tax returns from hedge funds and law firms.

The Treasury’s successful use of AI to recover billions of dollars in lost funds highlights the technology’s potential to transform the fight against fraud. As online payment fraud continues to evolve, AI will play a crucial role in safeguarding government finances and protecting taxpayers’ interests.

Radiant Capital, a cross-chain lending protocol, has fallen victim to a major cyberattack resulting in over $50 million in stolen user funds. This incident highlights the potential weaknesses in multisignature wallets (multisigs), a commonly used security mechanism in the Web3 space.

According to security experts and Radiant Capital itself, attackers exploited vulnerabilities in the protocol’s smart contracts on the Binance Chain (BSC) and Arbitrum blockchain. The exploit leveraged the “transferFrom” function, allowing attackers to drain user funds across various cryptocurrencies like USDC, WBNB, and ETH. Estimates suggest the total loss could be as high as $58 million.

🚨~$58,000,000 Exploit Alert🚨Radiant Capital contracts were exploited on BSC & ARB chains with the 'transferFrom' function, which allowed to drain users' funds, namely $USDC $WBNB $ETH and others⚠️Revoke approvals ASAP👇0xd50cf00b6e600dd036ba8ef475677d816d6c4281 pic.twitter.com/oUHyshwEmL

— De.Fi Antivirus Web3 🛡️ (@De_FiSecurity) October 16, 2024

Radiant Capital confirmed the attack and is collaborating with security firms like SEAL911, Hypernative, ZeroShadow, and Chainalysis to investigate and recover funds. The lending markets on BSC and Arbitrum have been paused until further notice, while operations on Base and Mainnet remain unaffected.

Investigation suggests the attackers gained control of several private keys belonging to signers in Radiant Capital’s multisig wallet. This compromised access allowed them to manipulate smart contracts and steal user funds. The incident underscores the potential vulnerabilities of multisigs, which are often seen as a secure way to manage cryptocurrency wallets.

The dominance of multisigs in Web3 security creates a single point of failure, making them susceptible to targeted attacks. Security experts like Sreeram Kannan, founder of EigenLayer, emphasize the need for more decentralized security solutions. He argues that reliance on multisigs undermines the core principles of trust and decentralization inherent in blockchain technology.

This incident serves as a wake-up call for the Web3 industry to explore alternative security solutions that offer a more robust and decentralized approach to protecting user funds.

Ethereum, the second-largest cryptocurrency, has experienced a decline in price in recent months, despite a brief surge in October. Several factors are contributing to this underperformance, including reduced on-chain activity, concerns about the impact of Ethereum ETFs, and the increasing competition from layer-2 solutions.

The Ethereum network has seen a decline in on-chain decentralized applications (DApp) volumes, which has raised concerns about the sustainability of its price. While other blockchains like BNB Chain and Solana have also experienced similar declines, Ethereum’s underperformance is notable.

Ethereum’s total value locked (TVL) has remained relatively stable compared to its competitors. However, the lack of significant growth in TVL indicates a potential slowdown in the network’s adoption.

The increasing popularity of Ethereum layer-2 solutions, which offer faster and cheaper transactions, has diverted some activity away from the main Ethereum network. This competition has contributed to the decline in Ethereum’s DApp volumes and overall network usage.

The recent launch of Ethereum ETFs in the US has failed to attract significant investor interest, leading to disappointing inflows. This lack of demand has negatively impacted the price of Ether.

The supply of Ether has continued to increase, despite efforts to reduce the burn rate through network upgrades like EIP-4844. This increase in supply can put downward pressure on the price.

Ethereum’s underperformance can be attributed to a combination of factors, including reduced on-chain activity, competition from layer-2 solutions, and limited investor interest in Ethereum ETFs. While the network’s fundamentals remain strong, the challenges it faces require careful consideration for investors.

Tesla, the electric vehicle giant, has made a series of unexpected Bitcoin transfers, raising questions about its future plans for its cryptocurrency holdings.

Tesla moved nearly all of its Bitcoin holdings, valued at over $765 million, to unknown wallets in a series of 26 transactions on October 15th.

Tesla’s Bitcoin wallet had been inactive since June 2022, prior to these transfers.

Tesla has not provided any official explanation for the transfers, leaving investors and analysts speculating about the company’s intentions.

While there is no concrete evidence, it’s possible that Tesla may have sold a portion or all of its Bitcoin holdings.

The transfers did not have a significant impact on Bitcoin’s price, which remained relatively stable.

Tesla has had a complex relationship with Bitcoin. The company initially purchased $1.5 billion worth of Bitcoin in February 2021, making it one of the largest corporate holders of the cryptocurrency. However, Tesla later sold a portion of its holdings and eventually suspended Bitcoin payments for its vehicles.

SpaceX’s Bitcoin Holdings

It’s worth noting that SpaceX, another company owned by Elon Musk, continues to hold a significant amount of Bitcoin. SpaceX’s holdings are valued at over $553 million, making it one of the largest private holders of Bitcoin.

Tesla’s mysterious Bitcoin transfers have sparked speculation and intrigue within the cryptocurrency community. While the company has not provided a clear explanation, it’s possible that they are exploring different strategies for managing their digital assets. As Tesla prepares to release its third-quarter financial results, investors will be eagerly awaiting more information about the company’s Bitcoin holdings and future plans.

Metaplanet, a Japanese investment firm, has continued to expand its Bitcoin holdings, making significant purchases throughout October. The firm’s strategy, inspired by MicroStrategy, has yielded substantial returns.

Metaplanet acquired 106.976 Bitcoin on October 15th, bringing its total holdings to 855.5 Bitcoin.

The firm’s Bitcoin investment has appreciated by 5.4%, with a total value of over $56.1 million.

Metaplanet has adopted a diversified investment strategy, including the use of loans to acquire Bitcoin.

The company’s Bitcoin holdings have increased significantly in recent months, positioning it among the top holders among public companies.

Metaplanet’s share price has surged by 480% since it unveiled its Bitcoin investment strategy in early April. The latest Bitcoin purchase has further boosted the company’s stock value.

Metaplanet’s strategy closely resembles that of MicroStrategy, a company known for its significant Bitcoin holdings. Both firms have adopted a proactive approach to accumulating Bitcoin, leveraging various financial instruments to maximize their investments.

Metaplanet’s successful Bitcoin investment strategy demonstrates the potential for companies to benefit from the cryptocurrency market. By strategically acquiring Bitcoin and diversifying their investments, companies can capitalize on the long-term growth potential of digital assets.

The Central Bank of the United Arab Emirates (CBUAE) has granted in-principle approval to AED Stablecoin, paving the way for its launch as a regulated dirham-pegged stablecoin in the UAE. This significant development addresses concerns about potential restrictions on cryptocurrency payments in the country.

AED Stablecoin has received preliminary approval from the CBUAE under its Payment Token Service Regulation framework.

The CBUAE’s licensing framework requires stablecoin issuers to maintain cash reserves and adhere to specific investment guidelines.

Tether has also announced plans to introduce a dirham-pegged stablecoin in partnership with local firms.

The UAE’s crypto-friendly regulatory environment has attracted major players like OKX, which recently launched a retail and institutional trading platform in the country.

The approval of AED Stablecoin has several positive implications for the UAE’s cryptocurrency ecosystem:

Enhanced Crypto Payments: AED Stablecoin can serve as a local trading pair for cryptocurrencies, facilitating seamless transactions within the UAE.

Merchants Adoption: Businesses can accept AED Stablecoin as a payment method, expanding its utility and adoption.

Regulatory Clarity: The CBUAE’s licensing framework provides clear guidelines for stablecoin issuers, fostering a more predictable and secure environment for the industry.

While the approval of AED Stablecoin is a significant milestone, the UAE’s cryptocurrency market still faces challenges. The competition from Tether and other stablecoin issuers will be intense. Additionally, the regulatory landscape may evolve, requiring continuous adaptation and compliance efforts.

The in-principle approval of AED Stablecoin marks a significant step forward for the cryptocurrency industry in the UAE. It demonstrates the country’s commitment to fostering a regulated and innovative ecosystem for digital assets. As the UAE continues to attract major players and develop its regulatory framework, it has the potential to become a leading hub for cryptocurrency activities in the region.

BNB, the native token of BNB Chain, has demonstrated remarkable resilience, maintaining its position as the third-largest cryptocurrency despite a recent decline in on-chain activity. While BNB’s price has remained relatively stable, concerns are emerging about the sustainability of its performance.

BNB’s value is partially driven by the benefits offered by the Binance exchange, such as exclusive launchpad access and trading fee discounts. These factors may reduce the reliance on BNB Chain usage.

A decline in BNB Chain activity, including network fees and DApp volumes, raises concerns about the long-term sustainability of BNB’s price.

The growing popularity of Ethereum layer-2 solutions, such as Base, poses a competitive threat to BNB Chain.

To assess the correlation between BNB Chain activity and BNB’s price, it’s essential to analyze on-chain deposits, network fees, and DApp volumes. While the total value locked (TVL) on BNB Chain has remained relatively stable, network fees have dropped significantly, indicating decreased activity.

Compared to Ethereum and Solana, BNB Chain has shown signs of lagging behind in terms of on-chain activity. Ethereum’s TVL has remained unchanged, while Solana’s has surged, indicating increased user interest and activity.

Binance’s launchpad offerings have faced criticism for their perceived unfairness. Some argue that the requirement for token issuers to hold a significant amount of BNB creates an uneven playing field and discourages long-term holding.

BNB’s recent price performance is influenced by a combination of factors, including its association with the Binance exchange, on-chain activity, and competitive pressures from other blockchains. While BNB has demonstrated resilience, the declining activity on BNB Chain raises concerns about the sustainability of its price appreciation. Investors should closely monitor these factors to make informed decisions about their BNB holdings.

Venture capital firms Gate Ventures and Boon Ventures have joined forces with Movement Labs to launch a $20 million fund dedicated to nurturing Web3 startups built on the Move programming language. This initiative marks a significant step towards fostering a more interconnected blockchain landscape.

The fund’s core focus lies in supporting the development of Move-based protocols. These protocols will primarily target projects bridging the gap between the Move network and Ethereum Virtual Machine (EVM) applications. This interoperability focus holds immense potential for expanding the reach and functionality of both ecosystems.

Investments will be strategically directed across various Web3 verticals within the Move ecosystem. Decentralized Finance (DeFi) projects, particularly those prioritizing security, will receive backing. Additionally, the fund aims to empower GameFi projects with secure in-game asset transactions and efficient NFT management solutions. Notably, the initiative prioritizes interoperability solutions that facilitate seamless data and asset transfers between Move and EVM ecosystems.

Startups receiving funding will benefit from a comprehensive support system. This includes participation in a mentorship program, access to hackathons, and the opportunity to secure research grants focused on advancing blockchain interoperability.

Movement Labs, the driving force behind this initiative, operates as a layer-2 solution built on the Move programming language, originally developed by Meta. Unlike Aptos Network, a layer-1 blockchain also utilizing Move, Movement Labs offers a unique approach. Its upcoming mainnet promises a layer-2 solution that elegantly integrates Move and Ethereum transactions.

Movement Labs recently secured $38 million in Series A funding, led by Polychain Capital. These funds will be used to advance their development of fast-finality rollups, cross-chain atomic transactions, and customizable transaction sequencing. These innovations aim to optimize scalability and security, ultimately attracting more developers to this burgeoning ecosystem.

The collective goal of these initiatives is to cultivate a unified blockchain environment. Within this environment, developers can freely build across various platforms without compromising on security or performance. This fosters a more collaborative and interconnected blockchain landscape.

Movement Labs: Investing in the Future of Move

Movement Labs’ dedication to fostering a thriving Move ecosystem is evident. In September, the first cohort of startups in their accelerator program secured a combined $13.2 million in seed funding. Additionally, another $10 million was secured from the Web3Port Foundation to support investments in native DeFi protocols, consumer applications, and game development within the Move network.

The $20 million fund from Gate Ventures, Boon Ventures, and Movement Labs is a powerful catalyst for the advancement of Web3 development within the Move ecosystem. By promoting interoperability solutions and fostering innovation, this initiative paves the way for a more integrated and user-friendly blockchain future.

Scroll, a prominent Ethereum layer-2 project, has recently been listed on the centralized cryptocurrency exchange Binance. This decision has sparked a debate within the crypto community regarding the potential impact on Scroll’s decentralization principles.

Supporters of the Binance listing argue that it will contribute to Scroll’s growth and expand its reach in emerging markets. By partnering with Binance, Scroll can leverage the exchange’s vast user base and facilitate easier access for new users.

However, critics express concerns about the potential centralization of Scroll. Some argue that partnering with a centralized exchange undermines the project’s decentralized ethos. Critics point to the example of Ethereum, which has maintained its decentralization despite being listed on various centralized exchanges.

It’s a tough decision to make. I strongly doubt that it’s a good decision long term. Imagine @VitalikButerin paying 5.5% to @okx when @star_okx refused to list $ETH.I like everyone in the scroll team, but kneeling to CEX is really disappointing. https://t.co/SsLYt5eFZU

— zjj.eth 曾嘉俊 (@zengjiajun_eth) October 11, 2024

Scroll’s co-founder, Ye Zhang, has defended the decision to partner with Binance. He emphasized that the partnership is a strategic move to expand the project’s ecosystem and attract new users. Zhang also clarified that the token distribution will not be affected by the Binance listing.

The crypto community has expressed mixed reactions to Scroll’s partnership with Binance. Some users support the decision as a means to accelerate growth, while others remain skeptical about the potential impact on decentralization.

Scroll’s listing on Binance is a significant development for the project. While it offers potential benefits in terms of growth and accessibility, it also raises important questions about decentralization. The crypto community will continue to closely monitor Scroll’s progress and assess the long-term implications of its partnership with Binance.

Heather Morgan, also known as the rapper “Razzlekhan,” faces up to 18 months in prison for her role in laundering 120,000 Bitcoin stolen from the Bitfinex exchange in 2016. However, prosecutors have recommended a lenient sentence due to her cooperation and assistance in the case.

Morgan pleaded guilty to money laundering and fraud charges in August 2023 as part of a plea bargain with the government.

Prosecutors have requested a reduced sentence for Morgan in recognition of her substantial assistance in the case.

While Morgan was initially unaware of her husband’s involvement in the Bitfinex hack, she later became complicit in laundering the stolen funds.

Morgan and her husband used various methods to conceal their involvement, including non-compliant crypto exchanges, darknet markets, and crypto mixers.

The government has seized crypto assets worth over $6 billion from the Bitfinex Hack Wallet, which will be returned to Bitfinex as restitution.

Morgan’s sentencing hearing is scheduled for November 15th, following her husband Ilya Lichtenstein’s sentencing on November 14th.

The case against Heather Morgan highlights the complexities of cryptocurrency-related crimes and the challenges faced by law enforcement agencies in investigating and prosecuting such cases. The outcome of the sentencing hearings will have significant implications for the cryptocurrency industry and the enforcement of laws related to digital assets.

A new AI-powered tool called ProKYC has emerged as a significant threat to cryptocurrency exchanges, demonstrating the increasing sophistication of cybercriminals. This tool enables fraudsters to bypass high-level KYC measures, allowing them to create fake identities and gain access to crypto exchange accounts.

ProKYC leverages AI to generate realistic deepfakes of individuals, including facial images and accompanying videos. These deepfakes are then used to deceive KYC systems on crypto exchanges and other financial platforms.

The emergence of ProKYC highlights the growing capabilities of cybercriminals in exploiting AI for fraudulent activities. By using AI-generated identities, fraudsters can easily bypass traditional KYC measures and open new accounts on crypto exchanges.

Identifying and preventing AI-powered fraud can be challenging. Overly restrictive biometric authentication systems may lead to false positives, while lax controls can increase the risk of fraud. A combination of human analysis and advanced detection techniques is necessary to effectively combat this threat.

Identity fraud is a serious crime with severe consequences. In the United States, individuals convicted of identity fraud can face up to 15 years in prison and substantial fines.

The development of AI-powered tools like ProKYC underscores the need for constant vigilance and innovation in the fight against cryptocurrency fraud. Crypto exchanges and other financial institutions must invest in robust security measures and stay ahead of evolving threats to protect their customers and maintain the integrity of the industry.

Economists Tyler Cowen and Alex Tabarrok have made their predictions for the upcoming Nobel Prize in Economics. While discussing potential candidates on their podcast, Marginal Revolution, they surprisingly suggested Vitalik Buterin, the co-founder of Ethereum, as a deserving recipient.

Cowen and Tabarrok praised Buterin’s significant contributions to the field of economics. They highlighted his role in building Ethereum, a groundbreaking platform that has revolutionized the cryptocurrency space. Buterin’s work has challenged traditional economic theories and introduced innovative concepts.

Although Buterin is a strong contender, the duo acknowledged the immense contributions of Satoshi Nakamoto, the anonymous creator of Bitcoin. While they believe Satoshi deserves recognition, they acknowledged the challenges of awarding a Nobel Prize to an anonymous individual.

The cryptocurrency community has shown mixed reactions to the suggestion of awarding the Nobel Prize to Buterin. While some support his contributions, others argue that Satoshi Nakamoto’s pioneering work in creating Bitcoin should be prioritized.

The Nobel Prize in Economics is highly prestigious, and the selection process is rigorous. While Vitalik Buterin’s contributions to the field of economics are undeniable, it remains to be seen whether he will be awarded the coveted prize. Regardless of the outcome, Buterin’s work has undoubtedly had a profound impact on the cryptocurrency industry and the broader field of economics.

The widespread collection of biometric data by tech companies raises significant concerns regarding privacy, security, and human rights. Decentralized identity solutions, based on blockchain technology, offer a promising approach to address these challenges.

The concentration of sensitive data in centralized systems creates a single point of failure, making them vulnerable to cyberattacks and data breaches.

Tech companies must comply with stringent data protection regulations like the GDPR, which can be complex and costly.

Historical examples demonstrate the potential for centralized biometric databases to be used for discriminatory purposes.

Decentralized Identity Solutions

Decentralized identity solutions, such as those based on zero-knowledge cryptography, offer several advantages:

Enhanced Privacy: By storing biometric data on individual devices, decentralized solutions minimize data exposure and reduce the risk of unauthorized access.

Improved Security: Decentralization eliminates the single point of failure associated with centralized systems, making it more difficult for malicious actors to exploit vulnerabilities.

Reduced Costs: Decentralized solutions can be more cost-effective for businesses as they eliminate the need for complex data management infrastructure and compliance efforts.

Enhanced User Control: Individuals have greater control over their own data, enabling them to decide who can access and use their biometric information.

The growing adoption of biometric data by tech companies necessitates a shift towards decentralized identity solutions. These solutions offer a more secure, private, and user-centric approach to managing personal information. By embracing decentralized identity, individuals and businesses can mitigate the risks associated with centralized data storage and protect fundamental human rights.

Paris, France, October 9th, 2024, Chainwire

Coded Estate has successfully closed an oversubscribed angel funding round with investments from Mozaik Capital, Hyperion Ventures, Black Dragon, Dutch Crypto Investors, and more. In addition, Coded Estate formally announces the launch of its “Pre-Season Mainnet Campaign”, an initiative aimed at bootstrapping the platform with early liquidity and setting the stage for its mainnet release on top of Sai Perpetuals, powered by Nibiru Chain.

“We’re thrilled to close our angel round and to have such esteemed investors on board,” said Co-founder, Didrik Angell. “Our mission is to redefine real estate transactions through the blockchain, making ownership more accessible and fun! Partnering with Nibiru enhances our capabilities, and the pre-season campaign is just the beginning as we prepare to launch a platform that will change how people invest in real estate forever.”

Leveraging Blockchain for Real Estate Innovation

Coded Estate seeks to transform the $280 trillion global real estate market through blockchain technology. Founded by a team of blockchain experts with experience building applications on Solana, Thorchain, and Sei Network, Coded Estate aims to create a Web3 hub for real estate. 

The platform will support on-chain property sales and rentals while offering fractional ownership and enhancing market transparency through the use of dynamic NFTs (dNFTs), hybrid smart contracts, and zero-knowledge proofs (ZKPs). 

“By integrating these technologies, Coded Estate will allow users to invest in fractional ownership of properties, making real estate markets more accessible and efficient. The platform is designed to overcome traditional barriers to property investment and speculation, with a focus on transparency and ease of use,” said Co-founder Didrik Angell.

Strategic Integration with Nibiru

Coded Estate’s strategic move to Nibiru—a blockchain and a smart contract ecosystem with a high-performance, EVM-equivalent execution layer (Nibiru EVM). The Nibiru blockchain is engineered to meet the growing demand for versatile, scalable, and easy-to-use Web3 applications. 

Nibiru EVM, which was released for alpha testing in June 2024, will significantly expand market reach and facilitate seamless integration with the broader cryptocurrency ecosystem. This functionality will also open up Coded Estate and other Wasm-based applications on Nibiru to the vast Ethereum user base. 

Pre-Season Mainnet Campaign to Introduce Early Liquidity

Coded Estate formally announces its Pre-Season Mainnet Campaign, designed to reward platform adopters with exclusive benefits. This campaign marks the culmination of Coded Estate’s journey from concept to execution and invites users to seed the initial liquidity pool and receive exclusive benefits, such as early adopter incentives. The campaign also integrates with Sai, a decentralized perpetual trading platform launching on Nibiru, which will offer RWA (real world asset) perpetual market opportunities for users. 

About Coded Estate

Coded Estate is the premier Real Estate hub of Web 3.0. The platform brings homes on-chain, rentals on-chain whilst transforming fractional ownership and housing market speculation into accessible, efficient and transparent markets leveraging dNFTS, hybrid smart contracts and zero-knowledge proofs (ZKp).

About Sai

Sai is a newly developed perpetual trading application built on Nibiru. Through its integration with Coded Estate, Sai supports enhanced trading and liquidity management solutions, strengthening the overall ecosystem.

For Media Inquiries:

 info@codedestate.com 

Contact

MediaCoded Estateinfo@codedestate.com

Elon Musk’s social media platform, X, is inching closer to a return in Brazil after paying substantial fines and fulfilling regulatory requirements. The platform’s suspension was imposed by the Supreme Federal Court in late August due to non-compliance with investigations into the spread of misinformation.

X has paid 28.6 million Brazilian reais ($5.5 million) in fines and fulfilled the necessary requirements to lift the suspension.

There were initial delays in transferring the funds due to a mistake in the bank account information.

X appointed a new legal representative in Brazil to comply with local regulations.

The platform blocked accounts of users accused of spreading misinformation related to Brazil’s electoral processes and justice system.

The final decision on whether to lift the suspension of X in Brazil rests with the Attorney General. If approved, Justice Moraes will review the case and issue a final ruling.

Elon Musk has publicly criticized Justice Moraes’ actions, accusing him of politically motivated censorship. Musk believes that the judge’s demands for content moderation are unlawful and violate free speech principles.

The ongoing legal battle between X and the Brazilian authorities highlights the challenges faced by social media platforms in navigating complex regulatory environments. While X has made significant progress in addressing the concerns raised by the Supreme Federal Court, the final decision on its return remains pending.

Scroll, a leading Ethereum layer-2 (L2) network, is set to launch its native token, SCR. The token will serve as a governance mechanism and protocol utility as Scroll transitions towards decentralization.

Scroll will list SCR on Binance on October 22nd and conduct an airdrop for existing users.

The total supply of SCR is 1 billion tokens, allocated to various stakeholders, including the Scroll Foundation, contributors, and ecosystem growth.

Scroll has outlined a detailed roadmap to decentralize its governance, provers, and sequencer.

As a ZK-rollup, Scroll offers faster transaction finality compared to optimistic rollups like Arbitrum and Base.

Scroll’s total value locked (TVL) has surged to $1.2 billion, surpassing competitors ZKsync Era and Starknet.

The launch of SCR is a crucial milestone for Scroll’s development. The token will empower the community to participate in governance decisions and contribute to the network’s growth. As Scroll becomes more decentralized, SCR will play a vital role in driving innovation and development on the platform.

Scroll’s launch of SCR and its commitment to decentralization demonstrate the growing maturity of the Ethereum ecosystem. The network’s rapid growth and strong fundamentals position it as a leading contender in the L2 landscape. As Scroll continues to evolve, the SCR token will likely play a significant role in shaping its future.