tag:blogger.com,1999:blog-57386221874912228062024-02-19T01:33:52.860-05:00OhNo WTF CryptoCrypto Currency Blogs from a huge number of web journals on the web positioned by significance, social commitment, area authority, web traffic, freshness and social. Helping You Manage, Grow, and Stay Informed About Your Cryptocurrency Holdings.
by Khareem Sudlow
https://www.OhNoCrypto.comUnknownnoreply@blogger.comBlogger30118125tag:blogger.com,1999:blog-5738622187491222806.post-15476059763319163352023-05-31T17:25:00.001-04:002023-05-31T17:25:13.305-04:00A Comprehensive Guide on Crypto Plinko For Beginners#ETH #Ethereum
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<p>Regarding features and promotions, the <a href="https://www.ccn.com/crypto-plinko/" target="_blank" rel="noopener noreferrer">crypto Plinko</a> Game is more akin to an arcade game and is accessible at blockchain casinos. These promos include free spins from different suppliers. The winning sum is determined by the box in which the player’s ball falls after rolling it down a maze of pins.</p>
<p>On January 3rd, 1983, the program “The Price is Right” famed-priced Plinko casino games were first shown on television. Since then, they have been rather popular among gamblers looking to try their luck in cryptocurrency gaming.</p>
<h2>What Are the Rules of Crypto Plinko Games?</h2>
<p>Whether participants play live at a casino or crypto Plinko games online, the fundamental game possibilities are the same. The gameplay is straightforward. Every Bitcoin Plinko game has a pyramid-shaped gaming board that is made up of a maze of pegs.</p>
<p>Online casino players must roll a ball from the top of the pyramid when the price games begin, and the ball falls and is deflected by the pegs. The pegs then plot the ball’s path until it reaches the pyramid’s base and rests on a certain slot machine, establishing the winning sum for the crypto Plinko games.</p>
<p>Before pressing the “play” button to play Bitcoin Plinko and the ball rolling down the pyramid, Bitcoin players may decide which of the ball’s alternatives or Bitcoin Plinko chips they want to use and make a minimum wager.</p>
<p>The online Bitcoin slots at the pyramids’ bottom corners often have bigger reward values than those at the bottom centers.</p>
<h2>Key Characteristics of Crypto Plinko</h2>
<p>The rules of Bitcoin Plinko are clear-cut and basic, much like those of other crypto arcade games. There are several fantastic alternatives and free spins available to users on the Bitcoin Plinko online platform, including:</p>
<h3>Auto Mode</h3>
<p>The auto mode is available in the free spins slot machines provided by game providers is distinct from that seen in crypto Plinko. If players have enough casino chips and free spins, they may simultaneously press the “Play” button and roll down a stream of balls, quickly placing bets on each ball.</p>
<p>Playing online Bitcoin Plinko games, players can select any of the three colors simultaneously. Red had the largest reward value but also carried the <a href="https://corporatefinanceinstitute.com/resources/risk-management/major-risks-for-banks/" target="_blank" rel="noopener noreferrer">biggest risk of loss</a> throughout the game.</p>
<p>As a result, players should choose their balls carefully. The Auto Mode in a Bitcoin Plinko game online lets Bitcoin players decide how many bets and bonus spins they want to put at once. There is a minimum stake of 10 and a maximum wager of 1000. Users only need to click the “Stop Auto Betting” button to end the Auto Mode.</p>
<h3>Risk Level</h3>
<p>Bitcoin online Players can choose between high, low, normal, and low-risk levels when playing Bitcoin Plinko; the higher the risk level, the bigger the reward. In contrast, crypto Plinko balls of various colors in certain casinos provide Bitcoin Plinko games instead of the risk level classification.</p>
<p>For example, the danger is greatest for the red ball, moderate for the yellow, and highest for the green.</p>
<h3>Provably Fair</h3>
<p>All of the games on an online casino’s website that provide crypto Plinko games are guaranteed to be unbiased by third parties. Each consumer receives a casino hash code that they may use to check the games at Bitcoin Plinko’s are provably fair on a blockchain network.</p>
<h2>Tips for New Players on Crypto Plinko Games</h2>
<p>The outcome is determined by the path a dropped ball follows, and the ball’s final location is determined by how carefully the pegs are positioned at the base of the pyramid. To get the best returns, members should throw the ball in and determine whether the ball would go in an all-left or all-right direction.</p>
<p>To benefit from maximum payments, beginners should strive to drop the ball in the following ways:-</p>
<ul>
<li>The ball should be dropped from either the left or right side to enhance the likelihood that the ball will land on the upper slots.</li>
<li>The ball should be dropped a few spaces from the center to enhance the likelihood of receiving the maximum number of deflections to fall on the higher reward slots.</li>
<li>Change the number of pegs to drop the ball in the slots with more significant rewards towards the lowest corners of the pyramid.</li>
</ul>
<h2>Guidelines for crypto Plinko</h2>
<p>The online version of Bitcoin Plinko differs slightly from the TV version in that players don’t need to throw the disc manually to begin; instead, they just hit the “bet” button. The following are the game’s guidelines: –</p>
<ul>
<li>A ball descends from the top of the pyramid once players hit the “bet” button after selecting their deposit amount and minimum bet size.</li>
<li>As the ball descends, it strikes the pegs.</li>
<li>Depending on whatever slot the ball falls in, a reward is awarded.</li>
<li>A sophisticated program and VIP program automate the whole gaming and produce the game’s conclusion randomly after each round.</li>
</ul>
<h2>How to Keep Track of Your Crypto Plinko Wins and Losses?</h2>
<p>Every time players win or lose anything, they are responsible for keeping track of it by flipping to their left table. According to the slot machines, the ball lands in, and the left table shows their bet and the multiplier. The Bitcoin Plinko games’ following two features likewise make it easier for online gamers to keep track of their victories and losses:</p>
<h3>Line Bets</h3>
<p>Players can use line bets to predict the <a href="https://math.washington.edu/~greenber/PiPyr.html" target="_blank" rel="noopener noreferrer">breadth of the pyramid</a> foundation. The line can be estimated between 8 and 16; the higher the number, the larger the pyramid base will be, and as a result, the greater the likelihood of a future return.</p>
<h3>Risk Level</h3>
<p>The defined risk levels of the players determine the magnitude of the reward.</p>
<p>The default setting for the Plinko game is low risk, but the user can change it to a lower or higher level as desired.</p>
<h2>Future Of Crypto Plinko</h2>
<p>Online gambling enthusiasts worldwide have expressed appreciation for the change from the conventional to the online form of Bitcoin Plinko. As a result, a <a href="https://smartereum.com/2011/bitcoin-real-time-price-what-is-bitcoin-worth-bitcoin-price-today-usd-latest-price-chart-analysis-and-bitcoin-price-prediction-bitcoin-price-news-today/" target="_blank" rel="noopener noreferrer">better future is anticipated for crypto</a> Plinko games.</p>
<h2>Conclusion</h2>
<p>Crypto Plinko games online are among the simplest games enjoyed by gamblers worldwide. Bitcoin Plinko is a casino game that doesn’t need players to employ complicated techniques, so players may enjoy themselves and even win additional cash by playing it at the casino.</p>
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<p>Carolyn Coley is a blockchain reporter. She joined Smartereum after graduating from UC Berkeley in 2018.</p>
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OhNoEthereum via https://www.ohnocrypto.com/ @Carolyn Coley, @Khareem Sudlow
<div class="blogger-post-footer">This article first appeared on <a href='https://www.ohnocrypto.com'>Oh No "WTF" Crypto</a>
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<p><span>The Securities and Exchange Commission (SEC) announced on Tuesday that ex-Coinbase manager Ishan Wahi and his brother, Nikhil Wahi, agreed to settle charges for insider trading using knowledge from the exchange. </span></p>
<p><span>The former has been forced to forfeit 10.97 ETH ($20,848.92) and 9,440 USDT, while the latter was made to forfeit $$892,500.</span></p>
<h2>The End of Crypto’s First Insider Trading Case</h2>
<p><span>According to the SEC’s</span> <a href="https://www.sec.gov/news/press-release/2023-98" data-wpel-link="external" target="_blank"><span>press release</span></a><span>, the brothers’ fines represent penalties for disgorgement of ill-gotten gains from their trading scheme, plus prejudgment interest.</span></p>
<p><span>The brothers – in addition to one of their friends, Sameer Ramani – were charged by the Department of Justice in July 2021 in the first-ever insider trading case involving cryptocurrencies. Specifically, Ishan Wahi was accused of tipping his brother and friend with information about coins that would soon be listed at Coinbase, who would buy them in advance of public listing announcements. </span></p>
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<p><span>“Coinbase treated such information as confidential and warned its employees not to trade on the basis of, or tip others with, that information,” explained the SEC.</span></p>
</blockquote>
<p><a href="https://medium.com/coinmonks/analysis-a-binance-listing-adds-41-on-crypto-prices-2f6cd72e8dff#:~:text=In%20most%20cases%2C%20a%20Binance,varies%20from%20project%20to%20project." data-wpel-link="external" target="_blank"><span>Analysis</span></a> <span>has shown that public listings at popular exchanges have a largely appreciative impact on a coin’s price. Indeed, the co-conspirators were alleged by prosecutors to have profited $1.5 million across 55 different token trades between June 2021 and April 2022. </span></p>
<p><span>Though Ishan Wahi initially</span> <a data-wpel-link="internal" href="https://cryptopotato.com/ex-coinbase-executive-pleads-not-guilty-to-insider-trading-case-report/"><span>fought</span></a> <span>allegations against him, he ultimately</span> <a data-wpel-link="internal" href="https://cryptopotato.com/former-coinbase-exec-pleads-guilty-to-insider-trading-report/"><span>pled guilty</span></a> <span>to two counts of conspiracy to commit wire fraud in February. His brother already did the same in September,</span> <a data-wpel-link="internal" href="https://cryptopotato.com/coinbase-execs-brother-pleads-guilty-to-cryptocurrency-wire-fraud/"><span>lamenting</span></a> <span>that his crime was “something that I will have to live with forever.”</span></p>
<h2>Punishment From the SEC</h2>
<p><span>Both brothers agreed not to deny the SEC’s allegations as part of the settlement deal.</span></p>
<p><span>Though Nikhil paid the larger fine, he will only spend</span> <a data-wpel-link="internal" href="https://cryptopotato.com/brother-of-former-coinbase-manager-sentenced-to-10-months-in-prison/"><span>10 months</span></a> <span>behind bars, as opposed to his brother’s</span> <a data-wpel-link="internal" href="https://cryptopotato.com/fired-coinbase-exec-caught-with-insider-trading-sentenced-to-2-years-in-prison/"><span>2-year prison sentence</span></a><span>. </span></p>
<p><span>The SEC said that at least nine of the assets purchased by the group “were securities,” defying claims by Coinbase that the exchange doesn’t list any securities. Ishan Wahi’s lawyers</span> <a data-wpel-link="internal" href="https://cryptopotato.com/lawyers-challenge-secs-attempt-at-labelling-9-tokens-as-securities/"><span>challenged</span></a> <span>these claims in February, and Coinbase continues to spat with the agency regarding legal classifications for crypto as a whole </span></p>
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<p><span>“The federal securities laws do not exempt crypto asset securities from the prohibition against insider trading, nor does the SEC,” said Gurbir S. Grewal, Director of the SEC’s Division of Enforcement, in the agency’s statement. “I am grateful to the SEC staff for successfully working to resolve this matter.”</span></p>
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<p>The post <a rel="nofollow" href="https://cryptopotato.com/sec-settles-with-coinbase-employee-for-insider-trading-charges/">SEC Settles With Coinbase Employee For Insider Trading Charges</a> appeared first on <a rel="nofollow" href="https://cryptopotato.com/">CryptoPotato</a>.</p>
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OhNoRipple via https://www.ohnocrypto.com/ @Andrew Throuvalas, @Khareem Sudlow
<div class="blogger-post-footer">This article first appeared on <a href='https://www.ohnocrypto.com'>Oh No "WTF" Crypto</a>
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<h2>5/31 (Tue) morning market trends (compared to the previous day)</h2>
<ul>
<p><span>traditional finance</span></p>
<li>NY Dow: $33,042 -0.1%</li>
<li>Nasdaq: $13,017 +0.3%</li>
<li>Nikkei Average: ¥31,328 +0.3%</li>
<li>USD/JPY: 139.7 -0.4%</li>
<li>USD Index: 104 -0.1%</li>
<li>10 year US Treasury yield: 3.69 -3.3% annual yield</li>
<li>Gold Futures: $1,977 -0.01%</li>
<p><span>crypto assets</span></p>
<li>Bitcoin: $27,731 +0.1%</li>
<li>Ethereum: $1,904 +0.7%</li>
</ul>
<p><span>NY Dow Nasdaq today</span></p>
<p>Today’s NY Dow fell slightly to -50.5 dollars. The Nasdaq closed at +41.7 dollars. Despite the market’s positive reaction to a deal over the weekend between President Biden and Speaker of the House McCarthy on the U.S. debt ceiling negotiations, risks remain in Congress’ vote.</p>
<p><span>connection</span>: Bitcoin rises to a halt, watch the future of the US debt ceiling bill</p>
<p><span>Agreed on US debt ceiling negotiations</span></p>
<p>U.S. President Joe Biden and House Speaker McCarthy reached a final deal on Friday night to raise the federal debt ceiling. A default by the U.S. government, which had been a concern, seems likely to be avoided.</p>
<p>The bill is scheduled to be voted on by the House of Representatives on the 31st of the US time. Some Democratic radicals and Republican conservative lawmakers (League of Freedom) have criticized the bill, but President Biden said yesterday, “There is no reason why it can’t be enacted by June 5 (X-day). It will pass in both houses.” I have the confidence to do it,” he said confidently.</p>
<p>On the other hand, the bill, if passed, would curb some government spending, adding downside risks to the U.S. economy already weighed down by recent high interest rates and declining credit in the wake of banking problems. There is a view that there is a risk that it will be lost.</p>
<p>Diane Swonk, chief economist at KPMG, said, “With monetary policy being, and likely to become, more constraining, fiscal policy could also be somewhat constraining,” according to Bloomberg. .</p>
<p>Recent economic indicators, such as the revised GDP figures announced last week and the PCE deflator, continue to indicate the underlying strength of the economy. raising.</p>
<p><span>connection</span>: Details of the US debt ceiling agreement</p>
<p><span>connection</span>: “X Day” approaching US debt ceiling problem, possible scenarios and their impact</p>
<p><span>US Treasuries</span></p>
<p>Yields fell, especially on 3- to 10-year bonds, on hopes that the above-mentioned deal would be passed.</p>
<p>The dollar/yen continues to fall. Selling intensified against the backdrop of a decline in US bond yields, and the price temporarily dropped to 139.58 yen.</p>
<div class="wp-caption"><img src="https://imgs.coinpost-ext.com/uploads/2023/05/IMG_3048-437x640.jpeg" alt="" width="437" srcset="https://imgs.coinpost-ext.com/uploads/2023/05/IMG_3048-437x640.jpeg 437w, https://imgs.coinpost-ext.com/uploads/2023/05/IMG_3048-699x1024.jpeg 699w, https://imgs.coinpost-ext.com/uploads/2023/05/IMG_3048-768x1126.jpeg 768w, https://imgs.coinpost-ext.com/uploads/2023/05/IMG_3048-1048x1536.jpeg 1048w, https://imgs.coinpost-ext.com/uploads/2023/05/IMG_3048-120x176.jpeg 120w, https://imgs.coinpost-ext.com/uploads/2023/05/IMG_3048-320x469.jpeg 320w, https://imgs.coinpost-ext.com/uploads/2023/05/IMG_3048.jpeg 1125w" class="wp-image-464100" height="640" />
<p class="wp-caption-text">Source: Yahoo! Finance</p>
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<p><span>connection</span>: The background of the “strong dollar” that affects the virtual currency market also explains the correlation and factors of the weak yen</p>
<p><span>connection</span>: Top 3 rankings of ETFs (listed investment trusts) in Japan and overseas that can be purchased with NISA</p>
<p><span>economic data of the week</span></p>
<ul>
<li>Thursday, June 1, 21:15: U.S. May ADP Employment Statistics</li>
<li>June 1, 22:45 (Thursday): US May Manufacturing Purchasing Managers Index (PMI, revised value)</li>
<li>June 1, 23:00 (Thursday): US May ISM Manufacturing Index</li>
</ul>
<h3>US stock Nvidia hits $1 trillion market capitalization</h3>
<p>IT/tech stocks continued to perform strongly today. Stocks YoY: NVIDIA +2.9%, AMD -1.3%, c3.ai +33.4%, Tesla +4.1%, Microsoft -0.5%, Alphabet -0.7%, Amazon +1.2%, Apple +1%, Meta +0.1 %.</p>
<p><span>Nvidia</span></p>
<p>NVIDIA, a major US GPU maker, has become the world’s first semiconductor manufacturer to reach $1 trillion in market capitalization. As a leading player in artificial intelligence (AI), it looks like it has pushed up AI-related stocks around the world.</p>
<div class="wp-caption"><img src="https://imgs.coinpost-ext.com/uploads/2023/05/nv-1000bi-640x459.png" alt="" width="640" srcset="https://imgs.coinpost-ext.com/uploads/2023/05/nv-1000bi-640x459.png 640w, https://imgs.coinpost-ext.com/uploads/2023/05/nv-1000bi-1024x734.png 1024w, https://imgs.coinpost-ext.com/uploads/2023/05/nv-1000bi-768x551.png 768w, https://imgs.coinpost-ext.com/uploads/2023/05/nv-1000bi-120x86.png 120w, https://imgs.coinpost-ext.com/uploads/2023/05/nv-1000bi-320x229.png 320w, https://imgs.coinpost-ext.com/uploads/2023/05/nv-1000bi.png 1236w" class="wp-image-464101" height="459" />
<p class="wp-caption-text">Source: companiesmarketcap.com</p>
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<p>In addition to the company’s bullish May-July sales forecast announced last week, it seems that the announcement of the supercomputer “DGX GH200” for AI on the 29th was also considered.</p>
<p>The DGX GH200 is a supercomputer that enables the development of gigantic generative AI applications, and is scheduled to be available within the year. Big companies like Google Cloud, Microsoft and Meta are also planning to use it.</p>
<p><span>connection</span>: Google, Microsoft, etc. to use Nvidia announces supercomputer for AI</p>
<p>NVIDIA is the largest semiconductor manufacturer driving the new-generation artificial intelligence-related product market. Rivals include US Advanced Micro Devices (AMD), Intel, and Japan’s Advantest.</p>
<h4>Cryptocurrency-related stocks high</h4>
<ul>
<li>Coinbase|$61.1 (+7.4%/+7.4%)</li>
<li>MicroStrategy | $299.2 (+4.9%/+4.9%)</li>
<li>Marathon Digital | $9.4 (+5.4%/+5.4%)</li>
<li>Riot Platforms | $12 (+10.1%/+10.2%)</li>
</ul>
<p>Cryptocurrency mining stocks such as Marathon and Riot surged after the White House’s proposed Digital Asset Mining Energy (DAME) excise tax was dropped from the deal to raise the debt ceiling.</p>
<p><span>connection</span>: Good news for the cryptocurrency industry with the US debt ceiling agreement The mining tax increase proposal is postponed</p>
<p><span>connection</span>: Ranking of investment trusts that can be selected under the tax incentive system “Tsumitate NISA”</p>
<p>The post <a rel="nofollow" href="https://ourbitcoinnews.com/ai-virtual-currency-mining-related-stocks-soar-nvidia-reaches-1-trillion-in-market-capitalization-31st-financial-tankan/">AI/virtual currency mining-related stocks soar NVIDIA reaches $1 trillion in market capitalization | 31st Financial Tankan</a> appeared first on <a rel="nofollow" href="https://ourbitcoinnews.com">Our Bitcoin News</a>.</p>
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OhNoCryptocurrency via https://www.ohnocrypto.com/ @Kurt Ebenzer, @Khareem Sudlow
<div class="blogger-post-footer">This article first appeared on <a href='https://www.ohnocrypto.com'>Oh No "WTF" Crypto</a>
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<p><span>On Tuesday, the prices of bitcoin and other crypto assets were seen trading at a discount on the Australian arm of Binance, the world’s largest crypto exchange by trading volume, compared to rival local platforms.</span></p>
<p><span>As of 1:10 pm, bitcoin (BTC) was trading at A$34,863 ($22,670) on</span> <a href="https://www.binance.com/en-AU/crypto" data-wpel-link="external" target="_blank"><span>Binance Australia,</span></a> <span>about A$7,516 ($4,913) lower than the average price on most exchanges, including</span> <a href="https://www.btcmarkets.net/prices?show=lastPrice,pricePct24h,volumeQte24h,volume24h,chart" data-wpel-link="external" target="_blank"><span>BTC Markets,</span></a> <span>where it was trading at A$43,000 ($28,130), Coinjar and Independent Reserve. Other assets like Ether (ETH) and Solana (SOL) also traded at about 20% discounts.</span></p>
<h2><span>Bitcoin Trades at a Discount in Binance Australia</span></h2>
<p><span>The discounts on crypto prices on Aussie exchanges could be attributed to users trying to exit their positions quickly to avoid being cut off from a local withdrawal route scheduled to cease soon.</span></p>
<p><span>Earlier this month, Binance Australia</span> <a href="https://twitter.com/Binance_AUS/status/1659018600496373760?s=20" data-wpel-link="external" target="_blank"><span>informed</span></a> <span>its users that they would be unable to withdraw fiat to their bank accounts using the Australian PayID service, a popular payment method, from 5 pm on June 1, 2023. The exchange said the halt was due to a decision made by its third-party payment service provider and that it was searching for an alternative.</span></p>
<p><span>On the same day of the announcement, Australian big four bank Westpac</span> <a data-wpel-link="internal" href="https://cryptopotato.com/binance-australia-banned-by-big-four-bank-westpac-report/"><span>banned</span></a> <span>its customers from transacting with all crypto exchanges, including Binance Australia. Westpac revealed that the ban is part of a trial aimed at clamping down on scams and saving the millions lost to such fraudulent activities. Analysis conducted by the bank found that a third of all scam payments were directly moved to crypto exchanges, hence the decision.</span></p>
<h2><span>Binance Australia Faces Challenges</span></h2>
<p><span>Binance Australia has faced many challenges in recent times. Last month, the crypto exchange</span> <a data-wpel-link="internal" href="https://cryptopotato.com/binance-winds-down-australian-derivatives-division/"><span>wound down</span></a> <span>its Aussie derivatives business due to regulatory issues with the Australian Securities and Investments Commission (ASIC). The agency canceled the exchange’s license as it reviewed its local operations.</span></p>
<p><span>Meanwhile, a Binance Australia spokesperson said that after June 1, users could convert their Australian dollar balances into Tether USD (USDT) to facilitate trading activities until the exchange finds a provider to continue offering deposits and withdrawals.</span></p>
<p>The post <a rel="nofollow" href="https://cryptopotato.com/bitcoin-trades-at-5k-discount-on-binance-australia-as-withdrawal-closure-approaches/">Bitcoin Trades at $5K Discount on Binance Australia as Withdrawal Closure Approaches</a> appeared first on <a rel="nofollow" href="https://cryptopotato.com/">CryptoPotato</a>.</p>
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<div>
<p>Over the past year, the general public’s sentiments toward cryptocurrencies (virtual currencies) have deteriorated significantly. So, at least until there is more certainty about the market and the drivers that move it, there may be a mindset to stay away from crypto.</p>
<p>But if we take a long-term view, we can see things differently. Crypto-assets are still new technology, and new technology always has an adoption curve. And a good way to measure it is “Metcalfe’s Law”. The effect of the network is the square of the number of nodes in the network, so if the network has 10 nodes, its intrinsic value is 100 (10 x 10).</p>
<p>Given that crypto-assets are in the early stages of their evolution (indeed, they are), they have unrivaled potential to grow exponentially. It’s not a perfect analogy, but the toughest time to buy Amazon stock was the 2000s, when the company was stagnating. But in retrospect, of course it was time to buy.</p>
<p>In addition to their potential, crypto-assets and blockchains are becoming defined by characteristics such as decentralization, security, transparency, efficiency, innovation and financial inclusion. Many of these characteristics are attractive when examining macroeconomic conditions for investment. After a tough 2022, when nearly every asset class fell and traditional 60/40 portfolios performed their worst in more than 100 years, to rebuild and grow portfolios, the future It is important to be open to the possibilities of</p>
<h2>Possibilities of crypto assets and blockchain</h2>
<p>There are many big problems in America. With record debt-to-GDP ratios, a depreciating dollar, and an aging population with no end in sight.</p>
<p>How do we find opportunities to overcome these challenges?</p>
<p>It is important to recognize that the economy often takes time to reflect economic conditions. Expect worsening earnings, a credit crunch, and uncertainty around the Federal Reserve. One solution is blockchain and crypto assets.</p>
<p>There are several reasons why investing in crypto assets makes sense. These include diversification, high growth potential, cutting-edge technology, inflation hedges, and self-custody. The question is what percentage of the portfolio should be allocated to crypto assets.</p>
<p>As the U.S. Securities and Exchange Commission (SEC) stubbornly refuses to approve Bitcoin (BTC) spot ETFs (exchange-traded funds), investors should avoid investing only in a single crypto asset and avoiding risks from third parties.24 What options do you have to keep up with the 24×7 crypto market?</p>
<p>Warren Buffett once said, “Be vigilant when others are greedy, and be greedy when others are wary.”</p>
<p>Now is the time. To look to the long-term future, we must free ourselves from the noise of everyday life. Will crypto assets continue to rise in 5, 10, 15 years, and beyond? I think it will, and just as investing in Amazon in the early 2000s was smart, researching crypto now and allocating a portion of your portfolio is a smart move. .</p>
<p>Crypto-assets and blockchain are important as new ways to manage and secure financial transactions, increase transparency and accountability, and enable innovation across a wide range of industries.</p>
<h2>Hedging uncertainty</h2>
<p>Debt underpins the global economy. As debt rises and credit tightens, all facets of the market face challenges. Ultimately, it will devalue the fiat currency.</p>
<p>The US dollar remains the world’s reserve currency for now, but there is no guarantee that it will remain so in the future. Ultimately, all fiat currencies depreciate. Because the system is like that.</p>
<p>As an investor, it’s important to maintain purchasing power. Going forward, 60/40 portfolios and traditional asset management strategies will not suffice. That’s why investing in crypto assets is a responsible decision in the future, in order not to miss a big opportunity.</p>
<p>Cryptoassets as an asset class are directly tied to international liquidity. This faucet cannot be closed. As the money supply increases over time, we need to be prepared to profit from such an environment.</p>
<p>What position will commercial real estate hold in a new world where ‘work from home’ is the norm?</p>
<p>Office vacancy rates will rise to a record high of nearly 13% in Q1 2023. higher than after the 2008 financial crisis. Commercial real estate loans account for nearly 40% of bank lending. This problem, and the new risk of bank runs fueled by smartphones, are adding pressure to the system and further complicating matters. Crypto assets expand the tools for dealing with such situations.</p>
<p>Given that the system is debt-based and Fed Chairman Jerome Powell is in big trouble, it’s time to consider alternative investment options. No single solution is a panacea, but a combination of strategies increases the chances of a successful investment.</p>
<p>|Translation and editing: Akiko Yamaguchi, Takayuki Masuda<br />
|Image: Shutterstock<br />
|Original: If Crypto Is the Future, Advisors Need to Embrace It Now</p>
</div>
<p>The post <a rel="nofollow" href="https://ourbitcoinnews.com/if-crypto-assets-are-the-future-now-is-the-chancecolumn-coindesk-japan-coindesk-japan/">If crypto assets are the future, now is the chance[Column]| coindesk JAPAN | Coindesk Japan</a> appeared first on <a rel="nofollow" href="https://ourbitcoinnews.com">Our Bitcoin News</a>.</p>
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<div>
<p>RNDR, the utility token of decentralized rendering service Render Network, rose in sync with tech stocks in May, bucking a lull in the overall crypto market.</p>
<p>RNDR rose 6.5% to $2.55, according to TradingView data. It hit a 13-month high of $2.93 earlier this month. Wall Street’s tech index, the Nasdaq, is up nearly 8%. Meanwhile, Bitcoin (BTC) diverged from the Nasdaq and fell 5%, while the market cap of all crypto assets fell 3.5%.</p>
<p>“RNDR has been highly aligned with the Nasdaq over the past few weeks,” said Lewis Harland, portfolio manager at Decentral Park Capital, in a May 26 Market Update. He pointed to the story as a factor in the rally in both tech stocks and the RNDR.</p>
<figure class="wp-block-image">
<div class="feedlyNoScript"><img sizes="(max-width: 1024px) 100vw, 1024px" src="https://www.coindeskjapan.com/wp-content/uploads/2023/05/000001-1-1024x410.png" width="1024" alt="" srcset="https://www.coindeskjapan.com/wp-content/uploads/2023/05/000001-1-1024x410.png 1024w, https://www.coindeskjapan.com/wp-content/uploads/2023/05/000001-1-300x120.png 300w, https://www.coindeskjapan.com/wp-content/uploads/2023/05/000001-1-768x308.png 768w, https://www.coindeskjapan.com/wp-content/uploads/2023/05/000001-1-1536x615.png 1536w, https://www.coindeskjapan.com/wp-content/uploads/2023/05/000001-1-2048x820.png 2048w" class="wp-image-187030" height="410" /></div>
<figcaption class="wp-element-caption">RNDR, Nasdaq, daily chart of all crypto assets market capitalization (TradingView/CoinDesk)</figcaption>
</figure>
<p>A week ago, American chip maker Nvidia predicted a surge in revenue while meeting surging demand for its artificial intelligence (AI) chips used to power ChatGPT and similar services. He said he was increasing supply.</p>
<p>Since then, investors have scrambled to increase their exposure to NVIDIA stock and AI storytelling assets like Render’s RNDR.</p>
<p>“RNDR stands out because it brings together important stories such as its integration with the Apple ecosystem, its involvement in the Metaverse, its integration with artificial intelligence, and its 3D rendering capabilities,” said Crypto Fundamentals analyst. List’s Jason Choi said in the May 22 research newsletter Blockcrunch VIP.</p>
<p>“With the expected surge in demand for GPU computing power in areas such as games, metaverse development, architecture, animation, product design, augmented reality (AR), and most recently AI tools, RNDR is commonly used to create 3D graphics. It could replace the expensive computing equipment you need,” Choi added.</p>
<p>RNDR also benefits from speculation that Apple’s virtual reality headset will utilize Render Network’s distributed graphics processing network.</p>
<blockquote class="twitter-tweet">
<p lang="en" dir="ltr" xml:lang="en">June 5th mark your calendar!<a href="https://twitter.com/search?q=%24rndr&src=ctag&ref_src=twsrc%5Etfw">$rndr</a> & <a href="https://twitter.com/hashtag/apple?src=hash&ref_src=twsrc%5Etfw">#apple</a> set to make history <img alt="🔥" src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f525.png" class="wp-smiley" /><img alt="🔥" src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f525.png" class="wp-smiley" /><img alt="🔥" src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f525.png" class="wp-smiley" /> https://t.co/DkOXvjic4D <a href="https://t.co/BHDL57RHT8">pic.twitter.com/BHDL57RHT8</a></p>
<p>— Diffusion <img alt="⭕" src="https://s.w.org/images/core/emoji/14.0.0/72x72/2b55.png" class="wp-smiley" /> (@Diffusion_x) <a href="https://twitter.com/Diffusion_x/status/1662474003536048130?ref_src=twsrc%5Etfw">May 27, 2023</a></p>
</blockquote>
<p>|Translation: coindesk JAPAN<br />
|Editing: Toshihiko Inoue<br />
|Image: TradingView/CoinDesk<br />
|Original: Blockchain-Based Render Network’s Token Tracks Tech Stocks as Broader Crypto Market Decouples</p>
</div>
<p>The post <a rel="nofollow" href="https://ourbitcoinnews.com/distributed-rendering-service-token-rndr-rises-in-tandem-with-nasdaq-coindesk-japan-coindesk-japan/">Distributed rendering service token “RNDR” rises in tandem with Nasdaq | coindesk JAPAN | Coindesk Japan</a> appeared first on <a rel="nofollow" href="https://ourbitcoinnews.com">Our Bitcoin News</a>.</p>
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<p><span>El Salvador President Nayib Bukele has onboarded Saiffedean Ammous – author of</span> <i><span>The Bitcoin Standard</span></i> <span>– as an Economic Advisor to the National Bitcoin Office of El Salvador.</span></p>
<p><span>In his role, the author will “advise on matters related to various economic policies,” while supporting Bukele’s policy of “economic liberty and bitcoin,” according to a Bitcoin office statement. </span></p>
<h2>Economic Advice From Bitcoiners</h2>
<p><span>President Bukele</span> <a href="https://twitter.com/nayibbukele/status/1661376373477330947" data-wpel-link="external" target="_blank"><span>met</span></a> <span>with the Ammous last week to discuss a range of topics including “economics, hydroponics, cattle breeding, urban planning,” according to a</span> <a href="https://twitter.com/maxkeiser/status/1662288676657790976" data-wpel-link="external" target="_blank"><span>retweeted Twitter post</span></a> <span>from the author’s account. </span></p>
<p><span>According to the</span> <a href="https://twitter.com/bitcoinofficesv/status/1663530702791655424" data-wpel-link="external" target="_blank"><span>National Bitcoin Office</span></a><span>, Ammous also lectured students of El Salvador’s Bitcoin and Lightning</span> <a data-wpel-link="internal" href="https://cryptopotato.com/el-salvador-launches-bitcoin-lightning-dev-training-office/"><span>developer program</span></a><span>, Cubo+, during his stay.<br /></span></p>
<blockquote data-width="500" class="twitter-tweet" data-dnt="true">
<p lang="en" dir="ltr" xml:lang="en">When the author of the Bitcoin Standard met the leader of Bitcoin Country, great things were bound to happen.</p>
<p>We are excited to announce that <a href="https://twitter.com/saifedean?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank">@saifedean</a> is joining us as Economic Advisor to the National Bitcoin Office of El Salvador.</p>
<p>Welcome to the winning team, Dr Ammous! <a href="https://t.co/LyIljvKvtz" data-wpel-link="external" target="_blank">pic.twitter.com/LyIljvKvtz</a></p>
<p>— The Bitcoin Office (@bitcoinofficesv) <a href="https://twitter.com/bitcoinofficesv/status/1663530702791655424?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank">May 30, 2023</a></p>
</blockquote>
<blockquote>
<p><span>“As an Austrian economist, best-selling author & well-known bitcoiner Saifedean will make a great addition to President Bukele’s bitcoin team,” stated the office on Tuesday. </span></p>
</blockquote>
<p><span>Austrian economics is a school of thought that advocates for little to no government intervention in the economy, and allowing the free market to determine the price of goods and services. This contrasts with the “Keynesian” school of economics taught in most Universities today, which advocates for government intervention through monetary and fiscal policy to stimulate the economy. </span></p>
<p><span>In</span> <i><span>The Bitcoin Standard</span></i><span>, Saifedean makes the case for why the world would fare better on an Austrian model. As such, he promotes Bitcoin as an ideal currency for the world to use, since its code-enforced supply of 21 million units prevents governments from mismanaging the economy and diluting its citizens’ savings.</span></p>
<h2>Teaming Up With Bitcoin Maximalists</h2>
<p><span>The Bitcoin Office is</span> <a data-wpel-link="internal" href="https://cryptopotato.com/el-salvador-launches-a-national-bitcoin-office-onbtc/"><span>designed</span></a> <span>to oversee all Bitcoin-related projects in El Salvador, and to coordinate with other countries on initiatives related to the asset. It’s also worked closely with the nation’s officials to develop policies related to the crypto sector at large. </span></p>
<p><span>Ammous is widely regarded as a “Bitcoin maximalist” – someone who is incredibly bullish on Bitcoin, but rejects most other cryptocurrencies as either redundant technology or outright scams. Existing members of the agency – including former television host</span> <a data-wpel-link="internal" href="https://cryptopotato.com/max-keiser-in-el-salvador-bitcoin-as-perfect-money-creates-confidence-in-leaders-like-president-bukele/"><span>Max Keiser</span></a> <span>and Stacey Herbert – also fall into this camp. </span></p>
<p><span>El Salvador’s crypto policy has already evolved to reflect this view to some degree. While being the first and only country to establish Bitcoin as legal tender, the nation passed a law in January</span> <a href="https://twitter.com/maxkeiser/status/1595978606785732611" data-wpel-link="external" target="_blank"><span>requiring</span></a> <span>non-Bitcoin assets to be approved by the national securities regulator. </span></p>
<p>The post <a rel="nofollow" href="https://cryptopotato.com/el-salvador-president-hires-bitcoin-standard-author-as-economic-advisor/">El Salvador President Hires Bitcoin Standard Author As Economic Advisor</a> appeared first on <a rel="nofollow" href="https://cryptopotato.com/">CryptoPotato</a>.</p>
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<div>
<p>The European Central Bank (ECB) has completed a digital euro prototype in preparation for deciding later this year on whether to develop a new form of EU legal tender, according to a report released on May 26. .</p>
<p>The ECB says central bank digital currencies (CBDCs) can be designed to foster innovation, but is skeptical about using Web3-style distributed ledger technology or smart contracts.</p>
<p>In a letter to European Parliament member Irene Tinagli, ECB Managing Director Fabio Panetta said: , shows that digital euro design options can be smoothly integrated into existing payment environments,” he said, adding that its findings “will serve as input to both the functional and technical design of the digital euro.” rice field.</p>
<p>At one point, the digital euro emerged as a response to Facebook’s own currency, Libra (later renamed Diem and then discontinued), but it became a prototype for the ECB. has been the subject of controversy, involving American tech giant Amazon.</p>
<p>As EU lawmakers called for a change in plans, Panetta downplayed the importance of Amazon’s long-term involvement, calling the prototype a “laboratory experiment” and “not to be scrapped and used any further.” No,’ he said.</p>
<h2>Prototype design</h2>
<p>As for the central bank’s own prototype backend, the ECB rejected distributed ledger technology, but favored a centralized model based on UTXO (Unspent Transaction Output), which is also used in cryptocurrency trading.</p>
<p>The UTXO system “allows for fast and efficient verification of transactions and supports a variety of payment types while preserving privacy,” the ECB report said, adding that smart contracts — a type of automated software popular in decentralized finance ) to make conditional payments, he added.</p>
<p>The European Commission is set to release draft legislation in June covering privacy protections for the digital euro and other key issues. But lawmakers have expressed skepticism about the benefits of CBDCs if they don’t allow innovations like programmable money that allow users to control how their money is spent afterwards.</p>
<p>The EU is one of many jurisdictions around the world currently considering a CBDC, including its neighbor, the Bank of England.</p>
<p>|Translation: coindesk JAPAN<br />
|Editing: Toshihiko Inoue<br />
|Image: Shutterstock<br />
|Original: ECB Finalizes Digital Euro Prototypes as Development Decision Looms</p>
</div>
<p>The post <a rel="nofollow" href="https://ourbitcoinnews.com/ecb-finalizes-digital-euro-prototype-coindesk-japan-coindesk-japan/">ECB Finalizes Digital Euro Prototype | coindesk JAPAN | Coindesk Japan</a> appeared first on <a rel="nofollow" href="https://ourbitcoinnews.com">Our Bitcoin News</a>.</p>
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<h2>Second listing of Oasis (OAS) in Japan</h2>
<p>It was revealed on the 30th that the listing of the native token “Oasis (OAS)” of the game-dedicated blockchain platform “Oasys” was confirmed on the domestic crypto asset exchange SBI VC Trade.</p>
<p>The scheduled listing date is May 31 (Wednesday), and the domestic handling of OAS tokens will be the second exchange after bitbank.</p>
<p>The Oasys project, which is being promoted by Singapore-based developer Oasys Pte. Ltd, announced a partnership with SBI VC Trade in March of this year. This alliance aims to spread the OAS token issued by Oasys and the “Oasys network” in Japan, and both parties have indicated a policy to work together.</p>
<p>In addition to this listing, the “SBI Web3 Wallet” provided by SBI VC Trade will soon be compatible with the Oasys network. As a result, users will be able to freely exchange OAS tokens and Japanese yen with the automatic yen conversion function of the wallet. In particular, it is expected that this will enable a new user experience (UX) such as trading items NFT (non-fungible tokens) in blockchain games only in Japanese yen.</p>
<p>Future prospects for collaboration between Oasys and SBI VC Trade include support for NFT marketplace SBINFT Market and liquidity supply at international market maker B2C2. The policy is to explore multi-faceted cooperation.</p>
<p>Oasys has also indicated its intention to aim for further listings on domestic and foreign exchanges in order to enhance domestic users’ options for trading OAS tokens.</p>
<p><span>connection:</span>SBI VC Trade Forms a Business Alliance with Oasys, Supporting Efforts for Domestic Dissemination</p>
<p>SBI VC Trade is a wholly owned subsidiary of the SBI Group, a comprehensive Internet financial group. As a crypto asset exchange business and a type 1 financial instruments business, in addition to spot trading (markets and exchanges), we provide various trading services such as leverage trading, accumulated crypto assets, and staking. It is possible to trade more than 16 stocks such as Bitcoin (BTC), XRP, Ethereum (ETH), Cardano (ADA), Dogecoin (DOGE), Solana (SOL).</p>
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<h3>What is Oasys</h3>
<p>Oasys is a blockchain built for gaming IP (intellectual property) holders and gamers based on the concept of “Blockchain for The Games”. By adopting the consensus building algorithm PoS (Proof of Stake), we will eliminate the transaction fee (Gas fee) for game players, which has been a major issue so far, and speed up the transaction process.</p>
<p><span>connection:</span>What is “Oasys (OAS)” that even beginners can understand? | Explanation of features and mechanism</p>
<p>Japan’s largest game company and Web3-related companies are participating in the Oasys project, and 21 partner companies include Square Enix, Sega, Bandai Namco Labs, GREE, bitFlyer and Astar. In February, Softbank participated as a validator (verifier) for the Oasys network. From April 3, handling of Oasis (OAS) began on the domestic exchange bitbank.</p>
<p><span>connection:</span>First listing in Japan, bitbank announces handling of game specialty chain Oasys (OAS)</p>
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<p>The post <a rel="nofollow" href="https://ourbitcoinnews.com/game-specialized-chain-oasys-oas-to-be-listed-on-sbi-vc-trade/">Game specialized chain Oasys (OAS) to be listed on SBI VC Trade</a> appeared first on <a rel="nofollow" href="https://ourbitcoinnews.com">Our Bitcoin News</a>.</p>
<br />
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OhNoCryptocurrency via https://www.ohnocrypto.com/ @Kurt Ebenzer, @Khareem Sudlow
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<p dir="ltr">Indonesian province Bali has stated that tourists are not allowed to make payments with cryptocurrency, warning that violators “will be dealt with firmly.”</p>
<p dir="ltr">The government is looking to curb the influx of foreign tourists as a way to tackle problematic foreigners who violate local laws.</p>
<h2 dir="ltr">Offending Foreign Tourists to Face Tough Sanctions</h2>
<p dir="ltr">Bali will take action against foreign tourists who use cryptocurrency for payment, according to the province’s Governor Wayan Koster, who spoke at a tourism development press conference on Sunday, May 28. Koster <a href="https://en.antaranews.com/news/283182/bali-to-crack-down-on-foreign-tourists-using-crypto-as-payment" data-wpel-link="external" target="_blank">said</a> offenders could face deportation, criminal penalties, and other tough sanctions.</p>
<blockquote>
<p dir="ltr">“Foreign tourists who behave inappropriately, do activities that are not allowed in their visa permit, use crypto as a means of payment, and violate other provisions will be dealt with firmly.”</p>
</blockquote>
<p dir="ltr">The Bali provincial Governor buttressed that the Indonesian rupiah was the only legal currency allowed as a payment means, stating that the use of any other currency contravened Indonesia’s law and offenders could face one-year imprisonment along with a fine of up to 200 million rupiah ($13,000).</p>
<p dir="ltr">Koster’s warning comes amid reports about the Governor’s plan to implement a <a href="https://asumsi.co/post/78608/pemprov-bali-akan-terapkan-sistem-kuota-bagi-wisatawan-asing/" data-wpel-link="external" target="_blank">quota system</a> to limit the number of foreign tourists entering the province and also curb the influx of foreigners who violate local rules. Bali’s tourism sector, which peaked in 2019, took a hit in 2020 during the COVID-19 pandemic, causing the island to close international flights, thereby severely restricting foreign tourists into the country.</p>
<p dir="ltr">While Bali has since reopened its borders, the province stated that there has been a rise in unruly behavior from tourists, which is seemingly <a href="https://www.washingtonpost.com/travel/2023/04/11/bali-bad-tourists-deported/" data-wpel-link="external" target="_blank">causing</a> headaches for locals and the government.</p>
<h2 dir="ltr">Crypto is Allowed, But Not for Payments</h2>
<p dir="ltr">The Head of the Bank of Indonesia for Bali, Trisno Nugroho, said that while crypto was acceptable in the province, its use for payment was not. As previously <a data-wpel-link="internal" href="https://cryptopotato.com/indonesias-central-bank-bans-the-use-of-cryptocurrencies-for-payments/">reported</a> by <em>CryptoPotato</em>, the Bank of Indonesia warned financial institutions against facilitating cryptocurrency payments.</p>
<p dir="ltr">Koster also stated that foreign exchange business activities can only happen with permission from Indonesia’s central bank, adding that operating without a license could attract a maximum prison sentence of five years and a maximum fine of 22 billion rupiah ($1.4 million).</p>
<blockquote>
<p dir="ltr">“Violations will be subject to administrative sanctions in the form of written reprimands, obligations to pay fines, and prohibitions from payment transactions.”</p>
</blockquote>
<p>The post <a rel="nofollow" href="https://cryptopotato.com/bali-warns-tourists-against-using-crypto-for-payments/">Bali Warns Tourists Against Using Crypto for Payments</a> appeared first on <a rel="nofollow" href="https://cryptopotato.com/">CryptoPotato</a>.</p>
<br />
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OhNoRipple via https://www.ohnocrypto.com/ @Anthonia Isichei, @Khareem Sudlow
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<h2>CBDC to pilot</h2>
<p>The Bank of Japan has released a report on the results of “Proof of Concept Phase 2” of its demonstration experiment on Central Bank Digital Currency (CBDC).</p>
<p>The Japanese version of the report was released last month, but the release of the English version yesterday has sparked renewed interest. In its report, the Bank of Japan has not yet decided whether to issue a CBDC (digital yen) in Japan, but it is important to continue preparations so that it can respond to future changes in the environment. I thought I was thinking.</p>
<p>In the final conclusion part, it is explained that the proof of concept, which is the process of confirming whether the basic idea of CBDC is technically feasible, will be completed in 2022 as planned because the purpose has been achieved. As previously announced, the company plans to conduct a pilot experiment from 2023.</p>
<p>In the pilot experiment, the following contents were carried out.</p>
<ul>
<li>End-to-end processing flow confirmation</li>
<li>Examination of issues and countermeasures for connection with external systems</li>
<li>Investigate ideas and countermeasures that were shown to be necessary in the proof of concept</li>
</ul>
<p>In addition, as previously announced, the CBDC Forum will be established to solicit ideas and knowledge from private business operators involved in retail payments and deepen their consideration.</p>
<p><span>connection</span>: Bank of Japan to start pilot experiment of central bank digital currency (CBDC) from April</p>
<p>The Bank of Japan said that whether to introduce CBDC will be decided through future public discussions.</p>
<p><span>connection</span>: Governor of the Bank of Japan “Whether or not the digital yen can be issued can be decided by 2026”</p>
<div>
<p><span>What are CBDCs</span></p>
<p>An abbreviation for “Central Bank Digital Currency”, it refers to a digitized currency issued by the central bank of each country or region. The big difference from crypto assets (virtual currency) is that CBDC is a digital legal currency.</p>
<p><img alt="▶" src="https://s.w.org/images/core/emoji/14.0.0/72x72/25b6.png" class="wp-smiley" />Cryptocurrency Glossary</p>
</div>
<p><span>connection</span>: What is Central Bank Digital Currency (CBDC) | Differences from Bitcoin and Main Advantages</p>
<h3>Assuming cooperation with DLT</h3>
<p>In the result report of this time, there is an item called “peripheral functions for cooperation between intermediary institutions and external systems”. In that item, the Bank of Japan said, “The external systems to be linked may not only be based on existing technologies, but may also be based on new technologies such as distributed ledger technology (DLT). ‘ said. DLT generally includes blockchain.</p>
<p>The Bank of Japan said, “In overseas CBDC demonstration experiments, there are also cases of collaboration between CBDC systems and DLT platforms, with an awareness of so-called asset tokenization, in which assets are tokenized and distributed on a platform that utilizes DLT. There are many.”</p>
<p>Therefore, in the proof of concept of the Bank of Japan, when considering the exchange of assets on the CBDC and DLT platforms, the assets to be exchanged are once secured in each system, and if the securement is successful in both systems, the final exchange is performed. It is explained that it is assumed that processing interlocking with maintenance (escrow) is assumed.</p>
<p><span>connection</span>: Ripple Launches CBDC and Stablecoin Platform</p>
<p>In addition, in the proof of concept of Phase 2, he said that limits on the holding amount, transaction amount, and number of transactions were also verified in order to ensure the stability of the financial system.</p>
<p>According to data from the American organization “Atlantic Council,” 18 countries and regions around the world are conducting CBDC pilot tests. The actual number launched is 11.</p>
<div class="wp-caption"><img src="https://imgs.coinpost-ext.com/uploads/2023/05/Atlantic-Council-CBDC-tracker-05-30-640x314.png" alt="" width="640" srcset="https://imgs.coinpost-ext.com/uploads/2023/05/Atlantic-Council-CBDC-tracker-05-30-640x314.png 640w, https://imgs.coinpost-ext.com/uploads/2023/05/Atlantic-Council-CBDC-tracker-05-30-768x377.png 768w, https://imgs.coinpost-ext.com/uploads/2023/05/Atlantic-Council-CBDC-tracker-05-30-120x59.png 120w, https://imgs.coinpost-ext.com/uploads/2023/05/Atlantic-Council-CBDC-tracker-05-30-320x157.png 320w, https://imgs.coinpost-ext.com/uploads/2023/05/Atlantic-Council-CBDC-tracker-05-30.png 780w" class="wp-image-463818" height="314" />
<p class="wp-caption-text">Source: Atlantic Council</p>
</div>
<p><span>connection</span>: G7 Finance Ministers and Central Bank Governors Meeting Encourages CBDC Development and International Regulations for Virtual Currencies</p>
<p>The post <a rel="nofollow" href="https://ourbitcoinnews.com/pilot-test-of-digital-yen-by-bank-of-japan-proof-of-concept-is-expected-to-link-with-distributed-ledger-technology/">Pilot test of digital yen by Bank of Japan Proof-of-concept is expected to link with distributed ledger technology</a> appeared first on <a rel="nofollow" href="https://ourbitcoinnews.com">Our Bitcoin News</a>.</p>
<br />
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OhNoCryptocurrency via https://www.ohnocrypto.com/ @Kurt Ebenzer, @Khareem Sudlow
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<div>
<p>Shiba Inu-themed FLOKI soared more than 10% on May 28, hitting its highest trading volume in over three weeks. Traders bet on the token in anticipation of the spread in China of the metaverse game Valhalla, which uses the token.</p>
<p>Trading volume for the Shiba Inu breed-themed token surged from $25 million last week to more than $60 million. This increase<a rel="noreferrer noopener" href="https://twitter.com/btcc77/status/1662791761402671105" target="_blank">Chinese table tennis match broadcast</a>It seems to be due to the fact that the advertisement of “Floki” was reflected in. That may have attracted some speculators who thought it might attract new traders from China.</p>
<p>Floki developers say social media groups have seen an influx of Chinese community members<a rel="noreferrer noopener" href="https://twitter.com/RealFlokiInu/status/1662806003992199169" target="_blank">tweeted</a>.</p>
<p>Floki Project has previously announced that it is targeting China as its latest effort to acquire users for Valhalla. The game’s content and technical documentation will be available in both Traditional and Simplified Chinese, specifically targeting the Chinese gaming market, the developer added at the time.</p>
<p>Ahead of Hong Kong’s easing of restrictions on cryptocurrency trading, “stories about China” have spread among some people on Crypto Twitter, and in recent weeks, Conflux (CFX) and other Asian media outlets have increased the price of tokens focused on</p>
<p>Starting June 1, Hong Kong will allow traders to invest in tokens such as Bitcoin (BTC), Ethereum (ETH) and Solana (SOL) on regulated exchanges in the country. While you can’t own a stablecoin, the move raises the specter that wealthy Chinese traders may soon pour money into the cryptocurrency market.</p>
<p>“The Chinese economy is projected to grow strongly this year while most major economies are expected to slow down,” Floki core developer 100bviking said in a Twitter DM to CoinDesk. “JP Morgan forecasts China’s GDP growth of 4% in 2023, which is 2.5 times the global economic growth forecast and 4 times the US economic growth forecast.”</p>
<p>“This strong growth will also spill over to crypto assets. In particular, Hong Kong will legalize crypto assets in a few days, which is also a sign that China will embrace crypto assets. China will launch the next crypto bull run. It is very likely that it will be towed,” 100bviking added.</p>
<p>|Translation: coindesk JAPAN<br />
|Editing: Toshihiko Inoue<br />
|Image: Shutterstock<br />
|Original: Shiba Inu-Themed Floki Sees Trading Volume Surge Amid China Plans</p>
</div>
<p>The post <a rel="nofollow" href="https://ourbitcoinnews.com/trading-volume-of-shiba-inu-themed-coin-floki-soars-%e2%94%80-investors-bet-on-its-spread-in-china-coindesk-japan-coindesk-japan/">Trading volume of Shiba Inu-themed coin “Floki” soars ─ Investors bet on its spread in China | coindesk JAPAN | Coindesk Japan</a> appeared first on <a rel="nofollow" href="https://ourbitcoinnews.com">Our Bitcoin News</a>.</p>
<br />
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OhNoCryptocurrency via https://www.ohnocrypto.com/ @Damien Martin, @Khareem Sudlow
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<p><span>Bitcoin users have registered over 10 million inscriptions into the Bitcoin blockchain using the newly popular Ordinals protocol. </span></p>
<p><span>The milestone comes shortly after Ordinals founder Casey Rordamor stepped down as the project’s lead maintainer on Saturday.</span></p>
<h2>Ordinals’ Blistering Growth</h2>
<p><span>According to data from</span> <a href="https://dune.com/dgtl_assets/bitcoin-ordinals-analysis" data-wpel-link="external" target="_blank"><span>Dune Analytics</span></a><span>, Bitcoin sports exactly 10,018,046 Ordinals inscriptions at writing time – the vast majority of which were recorded over the past month alone. </span></p>
<p><span>An inscription refers to data embedded into a Bitcoin transaction’s witness data. Inscriptions have always been possible on Bitcoin, but Ordinals allows users to inscribe data into a single identifiable satoshi, opening up a range of potential applications.</span></p>
<p><span>When Ordinals inscriptions first gained traction in February, their primary use case was for producing</span> <a data-wpel-link="internal" href="https://cryptopotato.com/binance-to-support-bitcoin-ordinals-in-its-ntf-marketplace/"><span>non-fungible tokens (NFTs)</span></a><span>. This has already turned Bitcoin into the second most popular network for trading NFTs next to Ethereum, according to</span> <a href="https://www.cryptoslam.io/" data-wpel-link="external" target="_blank"><span>CryptoSlam</span></a><span>. </span></p>
<p><span>However, Ordinals inscriptions ramped up in April as users started leveraging the technology to issue fungible crypto tokens, through the experimental</span> <a data-wpel-link="internal" href="https://cryptopotato.com/pros-and-cons-for-bitcoin-related-to-brc-20-token-standard-bitfinex-report/"><span>BRC-20</span></a> <span>token standard. The standard was highly popular for issuing memecoins at first, but is now used to host the first Bitcoin-based stablecoin</span> <a data-wpel-link="internal" href="https://cryptopotato.com/stably-launches-bitcoins-first-brc-20-stablecoin/"><span>Stably USD (USD)</span></a><span>. </span></p>
<p><span>After its unveiling in early March, BRC-20 triggered an avalanche of new inscriptions beginning in late April, and peaking in early May. The transition in Ordinals’ dominance from NFTs to BRC-20 tokens is visible on the blockchain, through the takeover of text-based inscriptions over image-based ones at that time. </span></p>
<h2>Roaring Inscriptions and Fees</h2>
<p><span>As of April 20, Ordinals inscriptions totaled 1,193,102, per data from Dune. That number more than tripled by May 5 to 3,776,366, at which time daily transaction fees generated by related transactions</span> <a data-wpel-link="internal" href="https://cryptopotato.com/bitcoins-fees-explode-amid-brc-20-memecoin-mania-miners-benefit/"><span>skyrocketed</span></a><span>. To this day, Ordinals has netted Bitcoin miners an additional $44 million in fees, and 91% of inscriptions have been text-based. </span></p>
<p>Certain Bitcoiners like Blockstream CEO Adam Back have <a href="https://twitter.com/adam3us/status/1619824591580598272?lang=en" data-wpel-link="external" target="_blank">objected</a> to Ordinals ‘clogging’ Bitcoin’s blockchain by making transfers more expensive for those using the for its intended purpose. On the other hand, billionaire Bitcoin investor Michael Saylor <a href="https://www.youtube.com/watch?v=6kFltZAqk4U" data-wpel-link="external" target="_blank">sees</a> Ordinals as a potential foundation of future innovation, including trading digital securities on Bitcoin.</p>
<p><span>Ordinals proponents were quick to celebrate the protocol’s milestone on Monday. Dan Held – former Product Manager at Kraken – said on Twitter that he’s confident Ordinals is more than just a fad. </span></p>
<blockquote data-width="500" class="twitter-tweet" data-dnt="true">
<p lang="en" dir="ltr" xml:lang="en">I've been in Bitcoin since 2012 and haven't seen this much excitement almost ever.</p>
<p>I'll take the other side of that bet. Any qualitative reasons why you feel that way or just Fudding bc you don't personally like it?</p>
<p>— Dan Held <img alt="🧙♂️" src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f9d9-200d-2642-fe0f.png" class="wp-smiley" /> (@danheld) <a href="https://twitter.com/danheld/status/1663200791358832640?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank">May 29, 2023</a></p>
</blockquote>
<p><span>Ordinals founder Casey Rodarmor</span> <a href="https://twitter.com/rodarmor/status/1662617512700420096" data-wpel-link="external" target="_blank"><span>handed</span></a> <span>lead maintainer status to @raphjaph on Twitter on Saturday, saying he hasn’t been “able to give [Ordinals] the attention it deserves.</span></p>
<p>The post <a rel="nofollow" href="https://cryptopotato.com/bitcoin-now-has-over-10-million-ordinals-inscriptions/">Bitcoin Now Has Over 10 Million Ordinals Inscriptions</a> appeared first on <a rel="nofollow" href="https://cryptopotato.com/">CryptoPotato</a>.</p>
<br />
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OhNoRipple via https://www.ohnocrypto.com/ @Andrew Throuvalas, @Khareem Sudlow
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<div>
<p>The Fantom blockchain will reward projects that use the network to contribute to gas tariffs (transaction fees) to drive increased demand for its blockspace, developers said on May 28.<a rel="noreferrer noopener" href="https://twitter.com/AndreCronjeTech/status/1662762820155342848" target="_blank">tweeted</a>.</p>
<p>Eligible applications will be rewarded with 15% of the fees, providing developers with a small extra income.</p>
<p>This is part of a planned move called the dApp Gas Monetization Program, which was approved in a community governance vote earlier this year.</p>
<p>The proposal called for lowering the Phantom (FTM) burn rate in order to redirect more network charges directly to applications built on the Phantom. Now that it’s passed, Phantom’s burn rate has been reduced from 20% to 5%, with the 15% reduction going to applications.</p>
<p>This return is said to contribute to retaining developers and maintaining the Phantom’s network infrastructure as a reward for in-demand applications.</p>
<p>Gas is a type of fee that blockchain users pay with the blockchain’s native token, in this case the Phantom (FTM). Phantom’s fees are a few cents per transaction, but over time add up to a substantial amount, which will be borne by the users of Phantom-based projects.</p>
<p>The data suggests that some projects are already benefiting from the monetization program within hours of implementation.</p>
<p>Cross-chain bridge Stargate Finance earned 8300 FTM, just over $2600 at the time of writing, while decentralized exchange (DEX) SpookySwap earned 978 FTM, or just over $300.</p>
<p>|Translation: coindesk JAPAN<br />
|Editing: Toshihiko Inoue<br />
|Image: Shutterstock<br />
|Original: Fantom Will Pay Back 15% of Token Fees to Some Projects</p>
</div>
<p>The post <a rel="nofollow" href="https://ourbitcoinnews.com/phantom-returns-15-of-transaction-fees-to-some-projects-coindesk-japan-coindesk-japan/">Phantom returns 15% of transaction fees to some projects | coindesk JAPAN | Coindesk Japan</a> appeared first on <a rel="nofollow" href="https://ourbitcoinnews.com">Our Bitcoin News</a>.</p>
<br />
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OhNoCryptocurrency via https://www.ohnocrypto.com/ @Damien Martin, @Khareem Sudlow
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<h2>“Web3 is an inevitable trend”</h2>
<p>The Science and Technology Commission of Beijing, China has released a white paper titled “Web3 Innovation and Development in Beijing”. Web3 says it’s an inevitable trend in the future of the Internet.</p>
<p>Beijing’s Chaoyang district also plans to invest more than 2 billion yen (100 million yuan) each year to develop the Web3 industry. 27, local media reported.</p>
<p>The Beijing Municipal Science and Technology Commission is also known as the Beijing Zhongguancun Science Park Management Commission. Zhongguancun is home to a concentration of IT companies and, along with Shenzhen, is also known as China’s Silicon Valley.</p>
<p>The committee pointed out that the Web3 industry is being developed around the world. In China, Beijing is in a position to lead China in the development of the Web3 industry in terms of policy efforts, innovative enterprises, and scientific research infrastructure.</p>
<p>He added that the city of Beijing is planning and launching a series of initiatives on technology platforms, implementation scenarios, and oversight mechanisms to become a hub of Web3 innovation with international impact. .</p>
<p>On the other hand, he also pointed out problems. The development of the Web3 industry in Beijing still faces challenges in terms of technology and talent support, industry chain integration, and legal regulations.</p>
<p>As the next step, Beijing will strengthen policy support for Web3, promote technology research and common platform construction, develop Web3 adoption scenarios, risk management, etc., to build a better ecosystem for the development of Web3. said to go.</p>
<h3>Chaoyang Ward to invest more than 2 billion yen annually</h3>
<p>In addition, at the Web3-related forum where this white paper was published, the director of the Zhongguancun Chaoyang Park Management Committee said that Beijing’s Chaoyang District will invest about 2 billion yen (100 million yen) every year from this year for the development of the Web3 industry ecosystem. (more than yuan) will be invested in special funds.</p>
<p>By 2025, we aim to make Chaoyang District a leading area for the Web3 industry.</p>
<div>
<p><span>What is Web3</span></p>
<p>The current centralized web is defined as Web2, and refers to an attempt to realize a non-centralized network using blockchain. A typical feature is the use case of decentralized networks such as blockchain, such as access to dApps using virtual currency wallets.</p>
<p><img alt="▶" src="https://s.w.org/images/core/emoji/14.0.0/72x72/25b6.png" class="wp-smiley" />Cryptocurrency Glossary</p>
</div>
<h4>Are virtual currencies excluded?</h4>
<blockquote data-width="550" class="twitter-tweet" data-dnt="true">
<p lang="en" dir="ltr" xml:lang="en">Interesting timing on this Web 3.0 white paper from the Beijing government tech committee with the June 1st anticipation in Hong Kong. <a href="https://t.co/0Ts1UB0jnL">pic.twitter.com/0Ts1UB0jnL</a></p>
<p>— CZ <img alt="🔶" src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f536.png" class="wp-smiley" /> Binance (@cz_binance) <a href="https://twitter.com/cz_binance/status/1662334590332153868?ref_src=twsrc%5Etfw">May 27, 2023</a></p>
</blockquote>
<p>Changpeng Zhao (CZ), CEO of major cryptocurrency exchange Binance, also commented that it was interesting that the white paper came out at the same time as Hong Kong’s new cryptocurrency regulations came into force.</p>
<p>He also points out that the white paper includes terms such as NFT (non-fungible token), VR, AI, and metaverse.</p>
<p>The other day, China’s state-owned Central Television (CCTV) reported news about a Bitcoin (BTC) ATM in Hong Kong. There are also expectations.</p>
<p><span>connection</span>: Chinese state TV reports Hong Kong cryptocurrency news, commented by Binance CZ</p>
<p>However, cryptocurrency media WuBlockchain took a cautious view on such speculation.</p>
<p>Although the Web3 industry will be supported, he pointed out that AI (artificial intelligence) and the Metaverse are the main topics in the white paper, and that only NFTs are mentioned in the blockchain chapter. He said that it does not suggest that the ban on trading crypto assets (virtual currency) in China will be lifted.</p>
<blockquote data-width="550" class="twitter-tweet" data-dnt="true">
<p lang="en" dir="ltr" xml:lang="en">We obtained the full text of this Beijing Web3 white paper. The article acknowledges that Gavin Wood proposed Web3 and the content of the blockchain; but in the Chinese-style Web3, AI and metaverse are the main topics, and the blockchain part only mentions NFT .<br />
Read the full… https://t.co/1Y2FggL3TZ <a href="https://t.co/knDe1lBtcI">pic.twitter.com/knDe1lBtcI</a></p>
<p>— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1662680985379684352?ref_src=twsrc%5Etfw">May 28, 2023</a></p>
</blockquote>
<p><span>connection:</span>Bitcoin rebounds due to receding default concerns, 3 backgrounds that change the tide</p>
<p>The post <a rel="nofollow" href="https://ourbitcoinnews.com/beijing-china-plans-to-invest-more-than-2-billion-yen-a-year-to-strengthen-policy-support-for-web3-industries/">Beijing, China plans to invest more than 2 billion yen a year to strengthen policy support for Web3 industries</a> appeared first on <a rel="nofollow" href="https://ourbitcoinnews.com">Our Bitcoin News</a>.</p>
<br />
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OhNoCryptocurrency via https://www.ohnocrypto.com/ @Kurt Ebenzer, @Khareem Sudlow
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<div>
<p>Crypto markets started May 29 Asian time higher after a deal was reportedly reached on the US debt ceiling.</p>
<p>As of this writing, Bitcoin (BTC) is up 5% to $28,249, while Ethereum (ETH) is up 4.9% to $1,917. The CoinDesk Market Index (CMI) is up 4% to 1209.</p>
<p>Bitcoin is still down 2.8% over the past month, weighed down by debt ceiling issues.</p>
<p>“Bitcoin found support around $25,000 and remained flat for about two weeks before today’s rally,” said Joe DiPasquale, CEO of crypto manager BitBull Capital. Whether it will continue to the dollar remains to be seen, but we expect to test another key resistance in the near future,” he said in an email.</p>
<p>“On the flip side, the range between $22,000 and $25,000 is acting as reliable support for bulls.”</p>
<p>House Republican Speaker Kevin McCarthy told reporters over the weekend that there was still work to be done on the debt ceiling deal and that the bill would be finalized on Friday and voted on by Friday.</p>
<p>In a statement, however, President Biden called the deal an “important step forward” and a compromise.</p>
<p>Asian stock markets also started the week strong after news of the deal. The Nikkei Stock Average is up 2% in the first half hour of trading, while Australia’s ASX200 is also up 1.18%.</p>
<p>|Translation: coindesk JAPAN<br />
|Editing: Takayuki Masuda<br />
|Image: CoinDesk<br />
|Original: First Mover Asia: Bitcoin Rises Past $28K on Debt Ceiling Deal</p>
</div>
<p>The post <a rel="nofollow" href="https://ourbitcoinnews.com/bitcoin-recovers-28000-coindesk-japan-coindesk-japan-2/">Bitcoin Recovers $28,000 | coindesk JAPAN | Coindesk Japan</a> appeared first on <a rel="nofollow" href="https://ourbitcoinnews.com">Our Bitcoin News</a>.</p>
<br />
<br />
OhNoCryptocurrency via https://www.ohnocrypto.com/ @Damien Martin, @Khareem Sudlow
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<div>
<p>The burgeoning on-chain economy of the Bitcoin blockchain is getting its own dollar-backed stablecoin.</p>
<p>According to publisher Stably, the new stablecoin Stably USD aims to be the go-to currency for traders trading new assets built on the Bitcoin blockchain. According to the company, Stably USD will enable transactions such as Bitcoin NFTs that are cheaper and more efficient than Bitcoin (BTC) and fiat currencies.</p>
<p>The Ordinals protocol, which emerged as a method of recording NFTs in Satoshi, the smallest unit of Bitcoin, has rapidly evolved and matured to become a method for creating all kinds of tokens, including the Stably USD. .</p>
<p>All Ordinals-based trading could become easier once this latest so-called ‘BRC-20’ token becomes widespread. Currently, there are only two options: fiat currency, which is stable but cumbersome to handle on-chain, or bitcoin, which is easy to use but unstable. Stably says it solves these problems by maintaining a stable value and providing an on-chain, easy-to-use method.</p>
<p>According to Stably documents, Stably USD is backed by Prime Trust, a crypto-focused fintech company. Users will go through Know Your Customer (KYC) and Anti-Money Laundering (AML) processes to exchange dollars for stablecoins.</p>
<p>For Stably USD to be successful in the long term, it must outperform its other stablecoins. Its stablecoin on the Ethereum blockchain, StableUSD (USDS), has just over 750 holders and a market cap of just $264,000, according to Etherscan. It does not even compare to Tether (USDT) and USD Coin (USDC), which lead the stablecoin market.</p>
<p>But Stably believes it can capture the market with Stably USD. When the token issuance began on May 22, the maximum supply was set at 69.42 trillion.</p>
<p>|Translation: coindesk JAPAN<br />
|Editing: Takayuki Masuda<br />
|Image: Shutterstock<br />
| Original: Bitcoin’s Hot Ordinals Economy is Getting a Dollar-Backed Stablecoin</p>
</div>
<p>The post <a rel="nofollow" href="https://ourbitcoinnews.com/bitcoin-nft-popularity-appears-new-stablecoin-coindesk-japan-coindesk-japan/">Bitcoin NFT Popularity Appears New Stablecoin | coindesk JAPAN | Coindesk Japan</a> appeared first on <a rel="nofollow" href="https://ourbitcoinnews.com">Our Bitcoin News</a>.</p>
<br />
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OhNoCryptocurrency via https://www.ohnocrypto.com/ @Damien Martin, @Khareem Sudlow
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<div>
<p>Pudgy Penguins, an NFT collection of round, cute penguins, has seen waves of success and failure since its debut in July 2021. The company suffered a sharp drop in price and plummeting popularity, especially when allegations surfaced about its founders last year.</p>
<p>The holding community, dubbed “Pengus” or “the Huddle,” was upset that the founders were unable to deliver on the project’s original roadmap. The outrage was further heightened by allegations that the founders stole the project’s funds.</p>
<p>Some holders will kick the founders out in a community vote in January 2022. Normally, the story would end here. Hopes dashed by ambitious promises and bad guys. What remains is a community united by a common despair.</p>
<p>However, the story took a new turn. Los Angeles entrepreneur and Penguin NFT holder Luca Netz bought the brand for 750 Ethereum (ETH), promising to turn things around and improve communication.</p>
<p>It’s been about a year since then. Penguin NFT’s spirit of ‘good mood and positivity for everyone’ has been restored thanks to new investments, real-world toys, and a rebound in NFT sales, with prices hitting record highs.</p>
<h2>Penguin march to success</h2>
<p>After Netz and his new team took over the project, they focused on building the project’s intellectual property (IP), laying out a plan to “become the leading brand in onboarding from Web2 to Web3.” Unlike the original founders, they have definitely taken steps to put their roadmap into action, announcing the production of penguin NFT-based toys and children’s books in the summer of 2022.</p>
<p>“I believe IP will be the Trojan horse that will bring hundreds of millions of people to crypto and Web3,” Netz said in an interview with CoinDesk.</p>
<p>“In order to get people to want to get involved in this field, you have to fall in love with a character, and that character is the Pudgy Penguins,” said Netz.</p>
<p>Despite the change in mood and momentum, and the overall “crypto asset winter” continuing, August 2022 recorded the highest sales ever. It also rose at Christmas in December 2022.</p>
<blockquote class="twitter-tweet" data-lang="ja">
<p lang="en" dir="ltr" xml:lang="en">Stoked for the pengs! <a href="https://twitter.com/LucaNetz?ref_src=twsrc%5Etfw">@LucaNetz</a> but excited to see where he and the new leadership takes em. https://t.co/bwro4rnHXx</p>
<p>— Garga.eth (Greg Solano) (@CryptoGarga) <a href="https://twitter.com/CryptoGarga/status/1561791839312773120?ref_src=twsrc%5Etfw">August 22, 2022</a></p>
</blockquote>
<blockquote class="wp-block-quote">
<p>“Congratulations Penguins! I haven’t met Mr. Netz, but I’m looking forward to what’s ahead with him and the new leadership.</p>
</blockquote>
<h2>toys and online experiences</h2>
<p>In May 2023, the company announced another $9 million in funding, followed shortly after by the promised toy launch. 20,000 units were reportedly sold in a few days, and the floor price rose to 6.2 ETH on May 20, 2023, according to NFT marketplace OpenSea.</p>
<blockquote class="twitter-tweet" data-lang="ja">
<p lang="en" dir="ltr" xml:lang="en">.<a href="https://twitter.com/pudgypenguins?ref_src=twsrc%5Etfw">@pudgypenguins</a> toys are dominating the Amazon sales charts.</p>
<p>They are currently #1 in Toys & Games beating out legacy brands such as:</p>
<p>– Disney<br />
– Transformers<br />
– Pokemon<br />
– Barbie<br />
– Legos</p>
<p><img alt="🤯" src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92f.png" class="wp-smiley" /> <a href="https://t.co/MhsYLrfujW">pic.twitter.com/MhsYLrfujW</a></p>
<p>—ALΞJANDRO <img alt="🍄" src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f344.png" class="wp-smiley" /> (@AlejNavia) <a href="https://twitter.com/AlejNavia/status/1659542720266772485?ref_src=twsrc%5Etfw">May 19, 2023</a></p>
</blockquote>
<blockquote class="wp-block-quote">
<p>“Pudgy Penguins toys are dominating Amazon sales charts.</p>
<p>Currently top in the Toys & Games category, with the following legacy brands.<br />
– Disney<br />
– Transformers<br />
– Pokémon<br />
– Barbie<br />
– Lego</p>
</blockquote>
<p>Launched at the same time as the toy, “Pudgy World” connects toy buyers with the digital world and onboards them to Web3 in a seamless way. It was exactly the “Trojan horse” that Mr. Netz said he would create.</p>
<p>Buyers of toys who registered their email addresses unknowingly received NFTs and cryptocurrency wallets, making the cumbersome process of setting up cryptocurrency wallets and depositing funds a breeze.</p>
<blockquote class="twitter-tweet" data-lang="ja">
<p lang="en" dir="ltr" xml:lang="en">The <a href="https://twitter.com/pudgypenguins?ref_src=twsrc%5Etfw">@pudgypenguins</a> The team released their Pudgy World online experience which allows users to create and customize digital penguins via NFTs.</p>
<p>They use physical toys and loot boxes to onboard users to NFTs without users even knowing they own NFTs.</p>
<p>Here’s how the system works <img alt="🧵" src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f9f5.png" class="wp-smiley" />: <a href="https://t.co/9zzhJJ13mO">pic.twitter.com/9zzhJJ13mO</a></p>
<p>— cygaar (@0xCygaar) <a href="https://twitter.com/0xCygaar/status/1660732316636033024?ref_src=twsrc%5Etfw">May 22, 2023</a></p>
</blockquote>
<p>“The Pudgy Penguins team has announced Pudgy World, an online experience where you can create and customize a digital penguin through NFT.</p>
<p>Physical toys and earned items can be used to onboard NFTs without users knowing they own them.</p>
<p>Here’s how it works</p>
<p>To cap off a strong first half of 2023, NFT lending platform Blend has announced the addition of Pudgy Penguins to its platform. It has established a position alongside popular collections such as “Azuki” and “Bored Ape Yacht Club (BAYC)”.</p>
<h2>community is key</h2>
<p>Among the NFT projects, there are many projects that have ended in failure, even though they foretell the next leap forward. On the other hand, a small number of projects have survived the dark, frosty “winter.” What’s so good about penguins?</p>
<p>In the world of Web3, don’t underestimate the power of community. New leaders like Netz knew that without the trust and support of the community, they would suffer the same fate as the original founders.</p>
<p>For that reason, he fulfilled his promise to “provide update information every month” and regularly provided information on Twitter and Discord. In addition, we gave the authority to create sub-communities within the community and planned real and virtual events that connect the communities.</p>
<p>By contrast, NFT projects like “More than Gamers” suffer from unclear communication and lack of transparency, with the Pixelmon NFT promising “the biggest, highest quality games” but admitting, laughingly. Providing art of extremely low quality. Neither have been able to recover at the time of writing this article.</p>
<p>The community can also share in the success of Pudgy Penguins. The project also allows holders to leverage and benefit from the IP through licensing agreements and other deals.</p>
<p>Netz said in a Twitter space with NFT marketplace Blur founder Pacman on May 25 that the toy was made using “IP from 16 different holders.” He continued that he felt it was his and the team’s responsibility to support that as it would be difficult for the average person to leverage the license and generate revenue on their own.</p>
<blockquote class="twitter-tweet" data-lang="ja">
<p lang="en" dir="ltr" xml:lang="en">They said nobody would ever put Penguins on a billboard.</p>
<p>Now, we’re putting them on Amazon best sellers lists. https://t.co/GLNKbc8WmX</p>
<p>— Elmo’s Pudgy Penguin Fund (<img alt="🐧" src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f427.png" class="wp-smiley" />, <img alt="🐧" src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f427.png" class="wp-smiley" />) (@0xElm0) <a href="https://twitter.com/0xElm0/status/1659834400979267584?ref_src=twsrc%5Etfw">May 20, 2023</a></p>
</blockquote>
<blockquote class="wp-block-quote">
<p>“I was told that no one put penguins in advertisements anywhere.</p>
<p>But now we have successfully put Penguin on Amazon’s bestseller list.”</p>
</blockquote>
<p>Similarly, Web3 giant Yuga Labs has given Bored Apes and other NFT holders full commercial rights to the NFT’s IP, giving Apes has appeared as an avatar holder.</p>
<p>Only time will tell if Penguin continues to be successful, but so far the outlook looks good. At the time of writing, the Pudgy Penguin NFT has a total trading volume of 170,457 ETH, worth over $300 million, and a floor price of 5.4 ETH, worth about $9,700.</p>
<p>|Translation and editing: Akiko Yamaguchi, Takayuki Masuda<br />
|Image: Pudgy World customization screen (pudgyworld.com)<br />
|Original: Pudgy Penguins NFT Project, Once Endangered, Proves Web3 Turnaround Is Possible</p>
</div>
<p>The post <a rel="nofollow" href="https://ourbitcoinnews.com/the-collapsed-nft-project-is-revived-%e2%94%80-why-did-the-penguin-survive-coindesk-japan-coindesk-japan/">The collapsed NFT project is revived ─ Why did the penguin survive | coindesk JAPAN | Coindesk Japan</a> appeared first on <a rel="nofollow" href="https://ourbitcoinnews.com">Our Bitcoin News</a>.</p>
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OhNoCryptocurrency via https://www.ohnocrypto.com/ @Damien Martin, @Khareem Sudlow
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<p dir="ltr">The Commodities Futures Trading Commission (CFTC) has sued five individuals for falsely promoting bitcoin and crypto trading services, thereby swindling unsuspecting investors.</p>
<p dir="ltr">The defendants in the case, according to the CFTC, mainly targeted Spanish-speaking users.</p>
<h2 dir="ltr">Majority of Victims Were From Spanish-speaking Communities</h2>
<p dir="ltr">The CFTC alleged that five people — David Carmona, Juan Arellano Para, Moses Valdez, David Brend, and Marco A. Ruiz Ochoa — solicited funds from customers to help them trade bitcoin and other cryptocurrencies but ended up misappropriating users’ funds.</p>
<p dir="ltr">The defendants jointly ran a business called Icomtech, which was supposedly a crypto trading venture. According to the CFTC, between 2018 and 2019, Icomtech stated that customers would receive 0.9% and 2.8% in daily returns from crypto trading. The fraudulent scheme also promised to double customers’ investments between four and eight months.</p>
<p dir="ltr">However, the regulator alleged that Icomtech, along with the defendants mentioned, did not use the funds received for bitcoin or crypto trading, nor did the scheme deliver on the aforementioned promises.</p>
<p dir="ltr">Also, the CFTC stated that the Icomtech agents solicited funds worth “hundreds of thousands of dollars” from over 170 people in the United States and other countries. Furthermore, most of the customers came from Spanish-speaking communities.</p>
<p dir="ltr">In addition to the CFTC enforcement action, the U.S. Attorney’s Office for the Southern District of New York (SDNY) also charged the five defendants for wire fraud in October 2022 in connection with the Icomtech fraudulent venture.</p>
<h2 dir="ltr">CFTC not More Crypto-Friendly Than the SEC</h2>
<p dir="ltr">The latest enforcement action comes shortly after the CFTC <a data-wpel-link="internal" href="https://cryptopotato.com/south-african-ceo-ordered-to-pay-a-record-3-4-billion-penalty-in-cftc-bitcoin-fraud-case/">recorded</a> its highest bitcoin fraud case involving a $3.4 billion penalty fee. The case involved a South African CEO who ran an unregistered commodity pool to solicit bitcoin from people and also embezzled customers’ funds.</p>
<p dir="ltr">Meanwhile, CFTC Commissioner Christy Goldsmith Romero recently said it was <a href="https://www.reuters.com/technology/no-way-police-all-cryptocurrency-fraud-cftc-commissioner-says-2023-05-23/" data-wpel-link="external" target="_blank">impossible to monitor</a> all the fraud going on in the cryptocurrency space, as it was a lot. According to Romero, 20% of the agency’s portfolio comprised crypto cases, including the <a data-wpel-link="internal" href="https://cryptopotato.com/cz-addresses-the-cftc-in-house-trading-allegations/">lawsuits</a> against crypto giant Binance and the bankrupt FTX.</p>
<p dir="ltr">The CFTC Commissioner also stated that the regulatory agency should not be seen as a “friendlier regulator” towards the crypto sector, compared to the Securities and Exchange Commission (SEC), which has adopted a <a data-wpel-link="internal" href="https://cryptopotato.com/sec-targets-bitcoin-miner-marathon-in-latest-action-against-the-industry/">more aggressive approach</a> towards the industry in recent times.</p>
<p>The post <a rel="nofollow" href="https://cryptopotato.com/cftc-sues-5-individuals-for-bitcoin-trading-services-fraud/">CFTC Sues 5 Individuals for Bitcoin Trading Services Fraud</a> appeared first on <a rel="nofollow" href="https://cryptopotato.com/">CryptoPotato</a>.</p>
<br />
<br />
OhNoRipple via https://www.ohnocrypto.com/ @Anthonia Isichei, @Khareem Sudlow
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<div>
<p>With the United States in a political stalemate, other regions are building regulatory frameworks for crypto assets (virtual currencies). Now, it would be important to consider the evolution and prospects of citizen demand for crypto assets.</p>
<p>As big nations suffer from inflation, fiat currency instability and monopoly control over financial access, citizens are becoming more familiar with crypto assets and growing distrust of centralized mechanisms.</p>
<h2>Crypto Asset Situation in Pakistan</h2>
<p>The government of Pakistan (population over 239 million, 5th largest in the world) recently announced that cryptocurrencies would not be legalized in the country to avoid penalties from the FATF (Financial Action Task Force on Money Laundering). Never,” he was quoted as saying.</p>
<p>On the surface, it may look like an overreaction to the FTAF’s position. The FATF chair recently released a letter titled “An end to the laws of crypto space,” calling for regulation rather than outright bans on crypto assets.</p>
<p>However, Pakistan has a somewhat tense relationship with the FTAF, and was removed from the “grey list” (designated as a country with “deficiencies” in anti-money laundering controls and restricted from participating in international finance) in October last year. I just got it.</p>
<p>Moreover, it is not difficult to see the influence of the IMF (International Monetary Fund) here. Pakistan is currently negotiating with the IMF over a relief program. But negotiations have stalled, and concerns about Pakistan’s political and economic problems are beginning to spill over into its neighbors. The IMF has made no secret of its distrust of the cryptocurrency market, and several months ago it included clauses in its negotiations with Argentina to curb its use of cryptocurrencies.</p>
<p>Nevertheless, crypto assets are actively used in Pakistan. Citizens are reportedly replacing their salaries with stablecoins out of fear that the fiat currency will depreciate. The legal tender Pakistani rupee has fallen more than 20% against the US dollar since the beginning of the year, and more than 30% in the past year.</p>
<p>on the other hand,<strong>Bitcoin (BTC) price in Pakistani rupees rises 103% since the beginning of the year (63% in US dollars)</strong>. It is no coincidence that a 2022 report from blockchain analytics firm Chainalysis ranks Pakistan as sixth in the world in terms of cryptocurrency penetration.</p>
<h2>Nigeria, Türkiye and even Japan</h2>
<p>Nigeria (population of over 218 million, 6th in the world) is also active in cryptocurrency use. If a new president takes office, the country is likely to devalue its currency to address trade imbalances and a shortage of dollars.</p>
<p>According to Chainalysis, Nigeria ranks 11th in global cryptocurrency penetration. Looking back over the past 90 days on Google Trends,<strong>The search term “crypto” was the most frequently used search term in the world, and “bitcoin” was the second most frequently used search term.</strong>.</p>
<figure class="wp-block-image">
<div class="feedlyNoScript"><img sizes="(max-width: 512px) 100vw, 512px" src="https://www.coindeskjapan.com/wp-content/uploads/2023/05/VNNC4NI5RRCQPEPJA5WUZBQXHI.png" width="512" alt="" srcset="https://www.coindeskjapan.com/wp-content/uploads/2023/05/VNNC4NI5RRCQPEPJA5WUZBQXHI.png 512w, https://www.coindeskjapan.com/wp-content/uploads/2023/05/VNNC4NI5RRCQPEPJA5WUZBQXHI-300x96.png 300w" class="wp-image-186064" height="164" /></div>
<figcaption>Ranking of the number of times the search term “crypto” was used (Google Trends)</figcaption>
</figure>
<p>The Turkish lira, the country’s 18th-largest country with a population of more than 85 million, recently hit a record low as markets braced for the prospect of Erdogan’s re-election.</p>
<p>According to the chart released by Kaiko, a crypto asset market data company,<strong>Cryptocurrency trading in the lira soars, outpacing trading in euros</strong>. In the aforementioned Chainalysis 2022 report, Turkey was ranked 22nd in terms of cryptocurrency penetration, but currency troubles and the need for hedging and diversification in preparation for such troubles are probably the reasons for its high ranking.</p>
<figure class="wp-block-image"><img sizes="(max-width: 512px) 100vw, 512px" src="https://www.coindeskjapan.com/wp-content/uploads/2023/05/3CHVUGT3MJAOROJNZNMOKWUUZI.png" width="512" alt="" srcset="https://www.coindeskjapan.com/wp-content/uploads/2023/05/3CHVUGT3MJAOROJNZNMOKWUUZI.png 512w, https://www.coindeskjapan.com/wp-content/uploads/2023/05/3CHVUGT3MJAOROJNZNMOKWUUZI-300x148.png 300w" class="wp-image-186065" height="252" />
<div class="feedlyNoScript"><img sizes="(max-width: 512px) 100vw, 512px" src="https://www.coindeskjapan.com/wp-content/uploads/2023/05/3CHVUGT3MJAOROJNZNMOKWUUZI.png" width="512" alt="" srcset="https://www.coindeskjapan.com/wp-content/uploads/2023/05/3CHVUGT3MJAOROJNZNMOKWUUZI.png 512w, https://www.coindeskjapan.com/wp-content/uploads/2023/05/3CHVUGT3MJAOROJNZNMOKWUUZI-300x148.png 300w" class="wp-image-186065" height="252" /></div>
<figcaption>Breakdown of cryptocurrency transactions by currency (Turkish lira/TRY is brown)/Kaiko</figcaption>
</figure>
<p>Japan is an unexpected addition to my list of “watch for penetration”. With a population of more than 124 million, it ranks 11th in the world and 3rd in nominal GDP.</p>
<p>James Butterfill, head of research at cryptocurrency manager CoinShares, recently shared a chart showing spot volume growth on cryptocurrency exchanges.<strong>Japan came in first, followed by the world’s second-largest average daily trading volume (first in the United States), and the highest growth rate by far (about 55% since the beginning of the year).</strong>.</p>
<figure class="wp-block-image"><img sizes="(max-width: 512px) 100vw, 512px" src="https://www.coindeskjapan.com/wp-content/uploads/2023/05/5QRHDUWCARH45ADUEVYMTD66OI.png" width="512" alt="" srcset="https://www.coindeskjapan.com/wp-content/uploads/2023/05/5QRHDUWCARH45ADUEVYMTD66OI.png 512w, https://www.coindeskjapan.com/wp-content/uploads/2023/05/5QRHDUWCARH45ADUEVYMTD66OI-300x207.png 300w" class="wp-image-186066" height="354" />
<div class="feedlyNoScript"><img sizes="(max-width: 512px) 100vw, 512px" src="https://www.coindeskjapan.com/wp-content/uploads/2023/05/5QRHDUWCARH45ADUEVYMTD66OI.png" width="512" alt="" srcset="https://www.coindeskjapan.com/wp-content/uploads/2023/05/5QRHDUWCARH45ADUEVYMTD66OI.png 512w, https://www.coindeskjapan.com/wp-content/uploads/2023/05/5QRHDUWCARH45ADUEVYMTD66OI-300x207.png 300w" class="wp-image-186066" height="354" /></div>
<figcaption>Bitcoin spot trading volume growth on exchanges in 2023 (CoinShares)</figcaption>
</figure>
<p>Given Japan’s low inflation rate and relatively stable fiat currency, it may be primarily for speculative purposes. Or it could be a sign investors are preparing for rising inflation and currency instability.</p>
<p>But higher inflation is likely to lead to rate hikes, which should strengthen the yen. If so, it’s not clear what bitcoin is a hedge for in Japan.</p>
<h2>Crypto assets as a hedge</h2>
<p>There are many other examples of citizens around the world relying on Bitcoin as a hedge against the volatility and depreciation of their currencies, including Ukraine, Argentina and Lebanon.</p>
<p>Many suffer from the lack of a reliable on-ramp and the difficulty of custody. But few are even remotely concerned about hostility from US regulators.</p>
<p>What these facts make us keenly aware is that the purpose of crypto assets goes far beyond the speculation offered by financial markets. Moreover, many emerging economies are accustomed to regulators’ overreach in restricting financial freedom, and citizens of such countries are more likely than those living under more open governments. It is easy to understand the decentralized nature of many crypto-assets, and it tends to be easy to evaluate their merits.</p>
<p>Furthermore, considering the increasing possibility of major currency turmoil expected in emerging countries in the future, inflationary pressure, the strength of the dollar, the possibility of political turmoil, etc., Bitcoin and stablecoins You can understand why the “insurance” and “hedging” nature of cryptoassets is even more attractive.</p>
<p>Currency liquidity may be a big headwind, but the crypto market is not all about it.</p>
<blockquote class="wp-block-quote">
<p><strong>Mr. Noelle Acheson</strong>: Former head of research at CoinDesk and Genesis Trading.</p>
</blockquote>
<p>|Translation and editing: Akiko Yamaguchi, Takayuki Masuda<br />
|Image: Lahore, Pakistan’s second largest city (Katja Tsvetkova / Shutterstock.com)<br />
|Original: Why the Biggest Emerging Markets Are Turning to Crypto</p>
</div>
<p>The post <a rel="nofollow" href="https://ourbitcoinnews.com/why-major-emerging-markets-are-turning-to-crypto-assets-%e2%94%80-japan-is-also-a-strange-movecolumn-coindesk-japan-coindesk-japan/">Why Major Emerging Markets Are Turning to Crypto Assets ─ Japan is also a strange move[Column]| coindesk JAPAN | Coindesk Japan</a> appeared first on <a rel="nofollow" href="https://ourbitcoinnews.com">Our Bitcoin News</a>.</p>
<br />
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OhNoCryptocurrency via https://www.ohnocrypto.com/ @Damien Martin, @Khareem Sudlow
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https://open.spotify.com/playlist/1kjiXdJdclcPaWJiCqfLPN</div>Khareem Sudlow http://www.blogger.com/profile/08896505403201352823noreply@blogger.comtag:blogger.com,1999:blog-5738622187491222806.post-38408438331083777362023-05-27T21:37:00.001-04:002023-05-27T21:37:48.949-04:00Popular series latest work “GTA 6”, rumors of virtual currency introduction resurface#OhNoCrypto <img sizes="(max-width: 300px) 100vw, 300px" src="https://files.ourbitcoinnews.com/wp-content/uploads/2023/05/28065127/Popular-series-latest-work-GTA-6-rumors-of-virtual-currency-300x158.jpg" width="300" alt="" srcset="https://files.ourbitcoinnews.com/wp-content/uploads/2023/05/28065127/Popular-series-latest-work-GTA-6-rumors-of-virtual-currency-300x158.jpg 300w, https://files.ourbitcoinnews.com/wp-content/uploads/2023/05/28065127/Popular-series-latest-work-GTA-6-rumors-of-virtual-currency-1024x538.jpg 1024w, https://files.ourbitcoinnews.com/wp-content/uploads/2023/05/28065127/Popular-series-latest-work-GTA-6-rumors-of-virtual-currency-768x403.jpg 768w, https://files.ourbitcoinnews.com/wp-content/uploads/2023/05/28065127/Popular-series-latest-work-GTA-6-rumors-of-virtual-currency-750x394.jpg 750w, https://files.ourbitcoinnews.com/wp-content/uploads/2023/05/28065127/Popular-series-latest-work-GTA-6-rumors-of-virtual-currency-1140x599.jpg 1140w, https://files.ourbitcoinnews.com/wp-content/uploads/2023/05/28065127/Popular-series-latest-work-GTA-6-rumors-of-virtual-currency.jpg 1200w" class="webfeedsFeaturedVisual wp-post-image" height="158" />
<h2>Rumors of GTA 6</h2>
<p>Rumors have recently reignited that crypto assets (virtual currency) may be introduced in Grand Theft Auto 6, a new version of the popular game produced by major game studio Rockstar Games.</p>
<blockquote data-width="550" class="twitter-tweet" data-dnt="true">
<p lang="en" dir="ltr" xml:lang="en">1/ Rumors surrounding <a href="https://twitter.com/hashtag/GTA6?src=hash&ref_src=twsrc%5Etfw">#GTA6</a> will keep gamers busy for a long time. Despite being debunked, these rumors keep popping up:</p>
<p><img alt="💱" src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4b1.png" class="wp-smiley" /> Crypto trading?<br />
<img alt="🤑" src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f911.png" class="wp-smiley" /> <a href="https://twitter.com/hashtag/playtoearn?src=hash&ref_src=twsrc%5Etfw">#playtoearn</a> quest rewards?<br />
<img alt="🏠" src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f3e0.png" class="wp-smiley" /> Your own digital home?<br />
<img alt="⛓" src="https://s.w.org/images/core/emoji/14.0.0/72x72/26d3.png" class="wp-smiley" /> Private chain?</p>
<p>Many of these can be found in other Web3 projects… <a href="https://t.co/ALwCaRrL7x">pic.twitter.com/ALwCaRrL7x</a></p>
<p>— DappRadar (@DappRadar) <a href="https://twitter.com/DappRadar/status/1662111179827826689?ref_src=twsrc%5Etfw">May 26, 2023</a></p>
</blockquote>
<p>The GTA series is a world-famous open-world crime action game. As of February 2010, the previous work “GTA5” is a huge hit with cumulative sales exceeding 160 million units.</p>
<p>According to a Forbes India article on the 27th, the next installment in the Grand Theft Auto series, GTA 6, may introduce a cryptocurrency reward system. The game is expected to be released in 2023 at the earliest and 2024 at the latest.</p>
<p>However, there is currently no evidence to support these rumors. The source cited by Forbes India is a cryptocurrency-related Twitter account, the accuracy of which is unknown. That source cited a Tweet from Watcher.Guru on June 26th of last year, which read, “GTA 6 leaks say the story will take place in Columbia and Miami, where players can earn and trade. Virtual currency rewards that can be used will be introduced in-game.”</p>
<blockquote data-width="550" class="twitter-tweet" data-dnt="true">
<p lang="en" dir="ltr" xml:lang="en">BREAKING: GTA 6 will be Played to Earn! <a href="https://t.co/ZwQZdXhaVd">pic.twitter.com/ZwQZdXhaVd</a></p>
<p>—Mat (@MatDefies) <a href="https://twitter.com/MatDefies/status/1661820136469176339?ref_src=twsrc%5Etfw">May 25, 2023</a></p>
</blockquote>
<p>A Twitter user added a “community note” to a tweet related to the Forbes India article, clarifying that neither Rockstar Games nor anyone involved with GTA 6 has confirmed the rumor. “Community Notes” is a feature introduced by Twitter to prevent misinformation, allowing users to add information to unclear tweets.</p>
<p><span>connection:</span>Popular series latest work “GTA 6” introduces virtual currency related elements = report</p>
<h3>Development company trends</h3>
<p>The cryptocurrency rumor itself first surfaced in 2021 and resurfaced last year. Take-Two Interactive CEO Strauss Zelnick revealed in January 2022 that the company was exploring Web3 opportunities. The comments came after the company acquired mobile/casual game studio Zynga for $12.7 billion. However, nothing has been revealed about concrete plans or strategies since then.</p>
<p>On the other hand, Rockstar Games, a subsidiary of Take-Two, announced in November last year that the use of NFTs and virtual currencies on the fan management server of “Grand Theft Auto V” was prohibited from the viewpoint of copyright management. These fan-operated servers used modified versions of PC games created by fans, and it was possible to use functions that could not be tried in normal play. For example, the servers for Grand Theft Auto V were offering special cars and weapons as NFT assets.</p>
<p>Crypto enthusiasts have been clamoring for the introduction of GTA’s original cryptocurrency, but as of yet there is no concrete evidence to support these claims. Until there is an official announcement from Rockstar Games and Take-Two Interactive, information about the introduction of cryptocurrencies and NFTs in GTA 6 remains uncertain.</p>
<p>With the increase in information like this, fraudulent token and NFT sales information may fly around, so it is very important for users to check and verify information rather than take it for granted. It is wise to be especially vigilant when dealing with information of uncertain origin or of low credibility.</p>
<p><span>connection:</span>Keyp Unveils ‘Game Wallet’, a Game Boy Hardware Wallet</p>
<div>
<p><span>What is Web3</span></p>
<p>The current centralized web is defined as Web 2.0, and refers to an attempt to realize a non-centralized network using blockchain. A typical feature is the use case of decentralized networks such as blockchain, such as access to dApps using virtual currency wallets.</p>
<p><img alt="▶" src="https://s.w.org/images/core/emoji/14.0.0/72x72/25b6.png" class="wp-smiley" />Cryptocurrency Glossary</p>
</div>
<p>The post <a rel="nofollow" href="https://ourbitcoinnews.com/popular-series-latest-work-gta-6-rumors-of-virtual-currency-introduction-resurface/">Popular series latest work “GTA 6”, rumors of virtual currency introduction resurface</a> appeared first on <a rel="nofollow" href="https://ourbitcoinnews.com">Our Bitcoin News</a>.</p>
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<p>A debt ceiling deal may remove a lot of economic uncertainty, but it could hurt assets like Bitcoin, which are heavily dependent on US dollar liquidity, in a column and interview published this week. Carefully select 10 books you want to read on Sunday.</p>
<h2>If the US debt ceiling agreement is agreed, will it have a negative impact on Bitcoin?</h2>
<p>With the debate on the US debt ceiling stalled and the market uncertain, some analysts warn that a deal could hurt the cryptocurrency market.</p>
<p>The United States reached the $31.4 trillion debt ceiling mandated by law on January 19. To keep the government running, the Treasury Department has been forced to resort to emergency measures and use the balance of its Government Savings Account (TGA). …read more</p>
<h2>Stablecoin will be the key to the ecosystem ─ Binance Japan Representative Mr. Chino talks about the Japanese market and development[Exclusive Interview]</h2>
<figure class="wp-block-image">
<div class="feedlyNoScript"><img alt="" src="https://www.coindeskjapan.com/wp-content/uploads/2023/05/DSC_5837%E3%81%AE%E3%82%B3%E3%83%92%E3%82%9A%E3%83%BC-1024x684.jpg" class="wp-image-186353" /></div>
</figure>
<p>On May 26, the cryptocurrency exchange Binance sent a guide to migration procedures associated with the establishment of a new trading platform to residents of Japan who use global trading platforms.</p>
<p>On November 30, 2023, the global trading platform will stop providing services to Japanese residents and start the full-scale entry process into the Japanese market. …read more</p>
<h2>Ethereum Transaction Finalization Paused, What Happened?</h2>
<p>The Ethereum blockchain has recently been unable to finalize blocks for two short periods of time. It was a volatile and undesirable event that poses a risk to blockchain security, but it is not an imminent crisis.</p>
<p>There has been a lot of confusion about how the delay in “finality” has affected the functionality of the Ethereum blockchain, sparking discussions about security concerns. It’s worth looking back at what happened. …read more</p>
<h2>Drowning in Sam ─ Excerpt from Amazon bestseller book about former FTX founder</h2>
<figure class="wp-block-image"><img alt="Drowning in Sam ─ Excerpt from Amazon bestseller book about former FTX founder" src="https://www.coindeskjapan.com/wp-content/uploads/2023/05/LMHMPDHWTRB2VD5SM65C2Y3RUM-1356x%E3%81%AE%E3%82%B3%E3%83%92%E3%82%9A%E3%83%BC-1-710x458.jpeg" />
<div class="feedlyNoScript"><img alt="Drowning in Sam ─ Excerpt from Amazon bestseller book about former FTX founder" src="https://www.coindeskjapan.com/wp-content/uploads/2023/05/LMHMPDHWTRB2VD5SM65C2Y3RUM-1356x%E3%81%AE%E3%82%B3%E3%83%92%E3%82%9A%E3%83%BC-1-710x458.jpeg" /></div>
</figure>
<p>Axios reporter Brady Dale believes it was his pursuit of SBF fame that ultimately led to his downfall.</p>
<p>Dale’s best-selling Amazon Economics book, SBF: How The FTX Bankruptcy Unwound Crypto’s Very Bad Good Guy. I will give you the chapter. …read more</p>
<h2>Opportunity for Japan: Consensus 2023 report meeting[event report]</h2>
<p>After being held online twice during the COVID-19 pandemic, it will be held in Austin, Texas this year following 2022, where developers, business people, investors, VCs, and regulators will gather and exchange opinions. “Consensus by CoinDesk 2023” was an opportunity.</p>
<p>At the debriefing session, Mr. Hosho Karasawa of Accenture picked up the themes that were attracting attention locally. …read more</p>
<h2>Happy Bitcoin Pizza Day! ──The day you bought two pizzas with 10,000 Bitcoins</h2>
<figure class="wp-block-image"><img alt="Happy Bitcoin Pizza Day! ──The day you bought two pizzas with 10,000 Bitcoins" src="https://www.coindeskjapan.com/wp-content/uploads/2023/05/VX6SY4BOTBFXVL6WMBM57OEORE-710x458.jpeg" />
<div class="feedlyNoScript"><img alt="Happy Bitcoin Pizza Day! ──The day you bought two pizzas with 10,000 Bitcoins" src="https://www.coindeskjapan.com/wp-content/uploads/2023/05/VX6SY4BOTBFXVL6WMBM57OEORE-710x458.jpeg" /></div>
</figure>
<p>Happy Bitcoin Pizza Day!</p>
<p>On May 22, 2010, Laszlo Hanyecz paid Jeremy Sturdivant 10,000 Bitcoins (BTC) for two Papa John’s pizzas delivered to his home. John’s Pizza).</p>
<p>The transaction is believed to be the first commercial transaction using Bitcoin, and May 22 is being dubbed “Bitcoin Pizza Day.” …read more</p>
<h2>Should Tether’s Bitcoin Buying Plans Concern?</h2>
<p>Tether, the issuer of the #1 market cap stablecoin Tether (USDT), recently said it would use its surplus profits to “continuously” buy Bitcoin (BTC) to boost its reserves. Announced.</p>
<p>Tether already holds more than 52,000 bitcoins, making it one of the top holdings of bitcoins among companies. In addition, 15% of the “tangible profit from operation” will be used for Bitcoin purchases. …read more</p>
<h2>Bitcoin, which threatens energy, can solve the energy problem</h2>
<p>Regardless of your position on Bitcoin, one thing is certain. In other words, Bitcoin is creating innovation that will enable not only the financial industry, but multiple industries to break the status quo.</p>
<p>From healthcare to energy, the innovations and ideas that emerge from the Bitcoin industry will change the important pillars that support society for the better.</p>
<p>However, there is the problem of greenhouse gases… …read more</p>
<h2>Institutional Investors Bullish on Long-Term Prospects for Crypto Assets: Consensus Survey</h2>
<figure class="wp-block-image"><img alt="Institutional Investors Bullish on Long-Term Prospects for Crypto Assets: Consensus Survey" src="https://www.coindeskjapan.com/wp-content/uploads/2023/05/IL6RFOV3XFEDPCSD2RS2NMSQF4-710x458.jpg" />
<div class="feedlyNoScript"><img alt="Institutional Investors Bullish on Long-Term Prospects for Crypto Assets: Consensus Survey" src="https://www.coindeskjapan.com/wp-content/uploads/2023/05/IL6RFOV3XFEDPCSD2RS2NMSQF4-710x458.jpg" /></div>
</figure>
<p>At Consensus 2023 last month, CoinDesk hosted two invitation-only investment manager roundtables. One for institutional investors (pension funds, family offices, sovereign wealth funds, university endowments, foundations) and one for asset allocators (funds of funds, asset managers, pension consultants).</p>
<p>With the help of Michelle Noyes of the Alternative Investment Management Association (AIMA), we posed the same 10 questions to both forums. …read more</p>
<h2>AI will change cryptocurrency trading</h2>
<p>If you ask a Large Language Model (LLM) like ChatGPT how to choose an LLM, you’ll get an answer like this:</p>
<p>“Choosing a large language model is like speed dating. Make a wish, and decide if you want to use it all the time for work etc.”…Read more</p>
<p>|Text and editing: coindesk JAPAN editorial department<br />
|Image: Shutterstock</p>
</div>
<p>The post <a rel="nofollow" href="https://ourbitcoinnews.com/will-the-us-debt-ceiling-deal-hurt-bitcoin-binance-japan-representative-exclusive-interview10-carefully-selected-books-you-want-to-read-on-sunday-coindesk-japan/">Will the US debt ceiling deal hurt Bitcoin? / Binance Japan representative exclusive interview[10 carefully selected books you want to read on Sunday]| coindesk JAPAN</a> appeared first on <a rel="nofollow" href="https://ourbitcoinnews.com">Our Bitcoin News</a>.</p>
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OhNoCryptocurrency via https://www.ohnocrypto.com/ @Damien Martin, @Khareem Sudlow
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<p>When Gary Gensler took over as chairman of the U.S. Securities and Exchange Commission (SEC) in 2021, he warned cryptocurrency projects that they were skeptical of “decentralized theater.” This is misleading as DAOs (Decentralized Autonomous Organizations) and protocols apparently have a core leadership team, but ostensibly lack a leader (and thus may not be prosecutable). I had in mind to make such a claim.</p>
<p>The ongoing crackdown on crypto assets by Gensler and the Biden administration now appears to be driving a different type of decentralization. It’s a major crypto asset company’s “America away”.</p>
<h2>Geographic shifts are possible</h2>
<p>Exchanges Coinbase and Gemini, bitcoin app company Strike and asset management platform Bakkt have all recently made plans to leave the United States.</p>
<p>Investor Kathy Wood, known for her huge long positions in Tesla and Coinbase, recently said that the US is “losing the Bitcoin movement” as the crypto industry moves away from it. bottom.</p>
<blockquote class="wp-block-quote">
<p>Related article: America is ‘losing’ the Bitcoin movement: Wood</p>
</blockquote>
<p>Such a geographic shift is real and can have very negative consequences for over-regulated regions. Pharmaceutical maker Bayer, for example, recently announced it was moving its main business out of Europe for regulatory reasons.</p>
<p>But if you dig deeper, some of the crypto firms that say they’re leaving the United States may be a different kind of “decentralized theater” rather than really planning a move. And this, too, is unlikely to have any impact on regulators.</p>
<h2>lip service</h2>
<p>There are two ways to understand the cryptocurrency companies suggesting they are leaving America. For one, some companies really think so because of the regulatory uncertainty and expected crackdowns. Another is that they may be trying to influence regulators by threatening to move jobs and revenues to other countries.</p>
<p>So far, much of the news reporting the massive exodus of cryptocurrency firms from America seems to be the latter. It’s pretty close, if not a perfect sham.</p>
<p>Some of the news will be the result of thoughtless media overrepresentation. An executive at Bakkt, a subsidiary of the US Intercontinental Exchange (ICE) that provides digital asset services, said he intended to leave the United States only after suggesting an expansion plan in favor of the EU’s cryptocurrency regulation “MiCA”. did not express it. Gemini’s overseas expansion was also misrepresented as an “exit.” Similarly, Coinbase has hinted at global expansion, but so far it has not materialized, and the international version of the exchange offers very limited services.</p>
<p>Some movements seem more tangible, but their influence is less clear. At the Bitcoin 2023 conference in Miami, Strike CEO Jack Mallers lashed out at US regulators. He declared that he would be “based” in El Salvador.</p>
<p>But the company has since explained that this will be its “global headquarters” and that its US headquarters in Chicago will remain. It seems safe to assume that Chicago, where Mullers lives, will remain the true heart of the company.</p>
<p>Mullers also mentioned bitcoin investment platform Swan Bitcoin and wallet developer Fold while talking about companies “headquartered in El Salvador.” However, these companies are likely to be increasing their presence in El Salvador rather than relocating their headquarters.</p>
<h2>Why You Can’t Leave America</h2>
<p>It has been about two months since the anti-crypto asset policy by the Biden administration became clear. It’s not a long time, but if these companies were serious about relocating, it would be nice to see more substantive progress.</p>
<p>If the regulatory environment is so hostile, why aren’t crypto companies leaving the US in droves?</p>
<p>There are a myriad of possible answers, all of which have far-reaching implications for the crypto industry. First, staff living in the United States are unlikely to welcome a move to El Salvador or Malta. America is still a huge center of talent for the crypto industry.</p>
<p>Second, despite the crackdown by regulators, the US law and stock system offer many advantages for cryptocurrency companies. And America has an almost unparalleled financial sector, including an abundance of venture capital money that continues to flow in despite the SEC’s hostile stance.</p>
<p>However, the biggest reason why cryptocurrency companies do not actively transfer is that the benefits are small compared to the difficulty. At its most obvious, the past two years have shown that the SEC’s de facto global influence cannot be escaped by claiming it is not an American company.</p>
<p>What’s more, it’s unclear whether the president will react to the exodus of cryptocurrency companies from the United States by changing course in cracking down on cryptoassets.</p>
<h2>What’s the point in taking action?</h2>
<p>Employment in the U.S. accounts for the majority of employment in the crypto industry, but the percentage of employment in the crypto industry to total U.S. employment is very small (although salaries are often high).</p>
<p>To put it bluntly, fighting inflation is far more important to the Biden administration than cryptoassets, and the disappearance of hundreds of jobs is more of an intriguing proposition than a terrifying threat. it might look</p>
<p>Democrats, especially those in the executive branch, seem to be completely deaf to the idea that cryptocurrencies can be anything other than a scam. Republicans are making noise about jobs, but they seem too disorganized and powerless despite holding a majority in the House.</p>
<p>So if the goal is to convince authorities to stop cracking down on cryptocurrencies, leaving the US is only as effective as threatening to actually act. In other words, it has no effect at all.</p>
<p>|Translation and editing: Akiko Yamaguchi, Takayuki Masuda<br />
|Image: Shutterstock<br />
|Original: Cathie Wood Thinks the US Crypto Exodus Is Here. Is It?</p>
</div>
<p>The post <a rel="nofollow" href="https://ourbitcoinnews.com/is-it-true-that-crypto-asset-companies-are-moving-away-from-the-united-statescolumn-coindesk-japan-coindesk-japan/">Is it true that crypto asset companies are moving away from the United States?[Column]| coindesk JAPAN | Coindesk Japan</a> appeared first on <a rel="nofollow" href="https://ourbitcoinnews.com">Our Bitcoin News</a>.</p>
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<div>
<p>This week’s US unemployment insurance claims and GDP (gross domestic product) were solid, but the crypto asset (virtual currency) market price movements did not have a big impact. In the past, the relationship of “good economic news = falling cryptocurrency prices” may be a sign that things are starting to change.</p>
<p>For most of the past year and a half, crypto markets have fallen as employment and productivity conditions have improved. If these things get better, it shows that the economy is still expanding and that high inflation, which is negative for the cryptocurrency market, is not under control. Today, however, good economic news can drive cryptocurrency prices higher, or at least have minimal impact.</p>
<h2>Even with economic improvement, crypto asset prices will not fall</h2>
<p>The U.S. Department of Labor announced on Thursday that 229,000 initial unemployment claims were filed last week, an increase of 4,000 from the previous month, but well below the expected 245,000. In addition, GDP in the second quarter increased by 1.3%, expanding for the third consecutive quarter.</p>
<p>The cryptocurrency market initially reacted positively, with Bitcoin (BTC) and Ethereum (ETH) trading volumes rising, with prices up 0.44% and 0.71%, respectively. Over the next few hours, the price rebounded and leveled off.</p>
<h2>Slowing inflation leads to a ‘good news = good news’ relationship</h2>
<p>What is noteworthy is the direction and magnitude of the change after the release of the economic data. What happened over the past year tells us a few things.</p>
<ol>
<li>Rising inflation remains a concern for the US Federal Open Market Committee (FOMC).</li>
<li>Federal Reserve Chairman Jerome Powell said he sees a strong job market as a barrier to keeping inflation in check as prices rise as the economy expands. Employment growth is a sign of economic strength.</li>
<li>As a result, crypto-asset prices often responded to good employment data with a decline and weak employment data with an increase.</li>
</ol>
<p>For example, in December, crypto asset values fell due to a drop in initial unemployment claims and an economic expansion.</p>
<p>With interest rates currently at 5.25% and inflation slowing, the market reaction to good data is likely to be more positively correlated (up), which bodes well for crypto assets as the economy improves. It will be.</p>
<p>Fed officials expect rates to remain between 5% and 5.25% until January 2024, according to the FOMC minutes earlier this month.</p>
<p>Officials did not signal whether to tighten or loosen the Fed’s current financial hawkish stance and remained cautious. There was also a scene where he pointed out the possibility that the cumulative tightening of monetary policy would affect economic activity more than expected.</p>
<p>But he also said he expects a mild recession to begin in the second half of the year, followed by a gradual recovery.</p>
<h2>Scenarios for profiting with Bitcoin</h2>
<p>Bitcoin holders could benefit if the recession and subsequent economic recovery happens as expected.</p>
<p>If the relationship between cryptoassets and the macroeconomy shifts to a “good news = good news” relationship, the expected recession is likely to have a negative impact on prices, making it possible to buy Bitcoin cheaply. become.</p>
<p>And if a moderate recovery materializes, those who have accumulated positions can reap big profits.</p>
<p>One indication of the relationship between Bitcoin and economic growth is its correlation with copper. Copper is called “Dr. Copper” because it tends to quickly reflect trends in the world economy. The correlation between Bitcoin and copper rose from -0.63 on May 9 to 0.85, indicating a strong relationship between the two.</p>
<figure class="wp-block-image">
<div class="feedlyNoScript"><img sizes="(max-width: 1024px) 100vw, 1024px" src="https://www.coindeskjapan.com/wp-content/uploads/2023/05/ZUSKSXEFEVAMRBLASAOEMWK4HA-1024x518.png" width="1024" alt="" srcset="https://www.coindeskjapan.com/wp-content/uploads/2023/05/ZUSKSXEFEVAMRBLASAOEMWK4HA-1024x518.png 1024w, https://www.coindeskjapan.com/wp-content/uploads/2023/05/ZUSKSXEFEVAMRBLASAOEMWK4HA-300x152.png 300w, https://www.coindeskjapan.com/wp-content/uploads/2023/05/ZUSKSXEFEVAMRBLASAOEMWK4HA-768x389.png 768w, https://www.coindeskjapan.com/wp-content/uploads/2023/05/ZUSKSXEFEVAMRBLASAOEMWK4HA-1536x778.png 1536w, https://www.coindeskjapan.com/wp-content/uploads/2023/05/ZUSKSXEFEVAMRBLASAOEMWK4HA.png 1616w" class="wp-image-186481" height="518" /></div>
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<p>|Translation: coindesk JAPAN<br />
|Editing: Rinan Hayashi<br />
|Image: TradingView<br />
|Original: The Relationship Between Economic News and Crypto Prices May Be Improving</p>
</div>
<p>The post <a rel="nofollow" href="https://ourbitcoinnews.com/a-sign-of-change-in-the-relationship-between-good-economic-news-crypto-asset-price-decline-coindesk-japan-coindesk-japan/">A sign of change in the relationship between “good economic news = crypto asset price decline” | coindesk JAPAN | Coindesk Japan</a> appeared first on <a rel="nofollow" href="https://ourbitcoinnews.com">Our Bitcoin News</a>.</p>
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OhNoCryptocurrency via https://www.ohnocrypto.com/ @Damien Martin, @Khareem Sudlow
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Music by:
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https://open.spotify.com/playlist/1kjiXdJdclcPaWJiCqfLPN</div>Khareem Sudlow http://www.blogger.com/profile/08896505403201352823noreply@blogger.comtag:blogger.com,1999:blog-5738622187491222806.post-65189214425873641052023-05-27T18:21:00.001-04:002023-05-27T18:21:16.808-04:00Value Stolen in Exploits Down By 70% Since Last Year, More Funds Returned (Report)#Ripple #XRP
<p>A good number of high-profile attacks on the crypto ecosystem took place last year, targeting everything and everyone from Phantom wallets to smart contracts themselves.</p>
<p>A common choice of <a data-wpel-link="internal" href="https://cryptopotato.com/random-numbers-dont-lie-a-closer-technical-look-into-recent-defi-hacks/">target</a> was cross-chain bridges, which allowed hackers to make off with serious bounties, most notably in the case of Harmony.</p>
<h2>Sharp Decrease in Attacks</h2>
<p>However, times seem to be changing, according to a new report from cybersecurity researchers at TRMLabs.</p>
<p>According to the <a href="https://www.trmlabs.com/post/crypto-hacks-down-70-in-q1-2023" data-wpel-link="external" target="_blank">paper</a>, the total value stolen via exploits and hacks has decreased by 70% year-over-year since Q1 2022. Although this may seem biased, considering that Q1 2022 was when the $600 million Ronin bridge <a data-wpel-link="internal" href="https://cryptopotato.com/largest-crypto-hack-ever-ronin-bridge-exploited-for-600m-in-eth-and-usdc/">attack</a> took place, the data holds up even when the rest of 2022 is taken into account. In total, almost $3.7 billion worth of funds were stolen by bad actors last year.</p>
<p>In fact, less value was stolen during Q1 2023 than in any quarter of 2022. In the previous quarter of 2023, the total value stolen only added up to about $400 million across nearly 40 separate attacks – about two-thirds were from the Ronin Bridge hack alone.</p>
<p>Furthermore, the victims of the attacks often manage to get back part of the stolen bounty, which is already, on average, a third of what it was a year ago.</p>
<blockquote>
<p>“The average hack size also took a hit in Q1 2023 – to USD 10.5 million from nearly USD 30 million in the same quarter of 2022, even as the number of incidents was similar (around 40). To date, hacking victims have recovered over half of all stolen funds in Q1 2023.”</p>
</blockquote>
<h2>Increased Scrutiny Prevents Losses</h2>
<p>Although it is impossible to tell the exact reason for the decline in the scope of the attacks – which could be anything between better cybersecurity measures, sheer boredom, or a guilty conscience – the researchers at TRMLabs believe increased attention from law enforcement officials may be the main contributor here.</p>
<p>Even in cases where the exploit that took place did not violate hacking laws, regulators still took action for other reasons. For instance, Avraham Eisenberg’s “profitable trading strategy” has landed him in <a data-wpel-link="internal" href="https://cryptopotato.com/mango-markets-exploiter-avraham-eisenberg-wants-to-keep-47m-as-bounty/">trouble</a> with the SEC, which charged him with manipulating securities.</p>
<p>Illegal exploits have also declined. Ever since Tornado Cash, the most well-known instrument for laundering dirty crypto, was sanctioned by the U.S., all addresses related to the mixer have been blacklisted, making it harder for cybercriminals to cash out the proceeds of their attacks.</p>
<p>However, the researchers warn that this lull in attacks may be temporary and urge crypto devs to remain alert.</p>
<p>The post <a rel="nofollow" href="https://cryptopotato.com/value-stolen-in-exploits-down-by-70-since-last-year-more-funds-returned-report/">Value Stolen in Exploits Down By 70% Since Last Year, More Funds Returned (Report)</a> appeared first on <a rel="nofollow" href="https://cryptopotato.com/">CryptoPotato</a>.</p>
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OhNoRipple via https://www.ohnocrypto.com/ @Jordan Lyanchev, @Khareem Sudlow
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