TLDR:

Two Russian nationals charged by U.S. for crypto-related money laundering

Websites of three illicit cryptocurrency exchanges seized

International effort involving multiple countries and agencies

Charges related to “carding” and facilitating cybercrime

Over $1 billion in transactions processed through illicit platforms

In a coordinated international effort, U.S. authorities, along with partners from several European countries, have taken action against a global cryptocurrency network linked to Russian sanctions evasion and money laundering.

The operation resulted in charges against two Russian nationals and the seizure of multiple websites associated with illicit cryptocurrency exchanges.

Sergey Ivanov and Timur Shakhmametov were charged by U.S. authorities for their alleged roles in operating money laundering services that catered to cybercriminals using cryptocurrencies. The U.S. Department of State has announced rewards of up to $10 million each for information leading to their arrests.

The charges against Ivanov include one count of conspiracy to commit bank fraud and one count of conspiracy to commit money laundering. These charges stem from his alleged involvement in providing payment processing support to the carding website Rescator and his connections to the carding website Joker’s Stash. Ivanov is accused of conducting transactions worth over $1.15 billion in value over the past 11 years.

Shakhmametov, known online as “JokerStash” and “Vega,” faces similar charges to Ivanov, with an additional count of conspiracy to commit access device fraud. This additional charge relates to his alleged role in operating the carding website Joker’s Stash, which reportedly offered data from 40 million payment cards annually for sale.

The TOC Rewards Program offers rewards up to $10M each for info leading to the arrests and/or convictions of Russian nationals Timur Shakhmametov and Sergey Ivanov, and up to $1M for information leading to the identification of other leaders of Joker’s Stash, UAPS, PM2BTC, and… pic.twitter.com/1a0wZNb8IU

— US Dept of State INL (@StateINL) September 26, 2024

As part of the operation, U.S. authorities seized websites associated with three illicit cryptocurrency exchanges: Cryptex.net, UAPS, PinPays, and PM2BTC. These platforms are believed to have links to Russia and were allegedly used for payment processing and exchanging cryptocurrencies obtained through illegal activities.

The U.S. Secret Service played a crucial role in the operation, seizing two website domain names used to support the cryptocurrency money laundering exchange “Cryptex.net.” According to authorities, this platform facilitated approximately 37,500 transactions amounting to $1.4 billion.

The international nature of this operation highlights the growing cooperation between law enforcement agencies worldwide in combating cryptocurrency-related crimes. Authorities from the Netherlands, Latvia, Germany, and the United Kingdom, along with Europol, participated in this coordinated effort.

U.S. President Joe Biden commented on the operation, stating that it was part of efforts to counter Russian sanctions evasion and money laundering. The president emphasized the involvement of the Department of Justice, the Department of the Treasury, and the U.S. Secret Service in disrupting this global cryptocurrency network.

U.S. Deputy Attorney General Lisa Monaco provided further context, stating that the charged Russian nationals allegedly pocketed millions of dollars from prolific money laundering activities and fueled a network of cybercriminals around the world. Monaco specifically mentioned Ivanov’s alleged facilitation of darknet drug traffickers and ransomware operators.

This operation represents a significant blow to the infrastructure supporting cryptocurrency-based money laundering and sanctions evasion.

The post U.S. Charges Two Russians in Global Crypto Money Laundering Crackdown appeared first on Blockonomi.

TLDR:

WazirX exchange suffered a $230 million hack in July 2024

Hackers have nearly finished laundering stolen funds through Tornado Cash

Singapore court granted WazirX a 4-month moratorium to restructure

WazirX users unlikely to recover 100% of assets; partial withdrawals enabled

Binance denies responsibility, stating it never acquired WazirX

The Indian cryptocurrency exchange WazirX continues to grapple with the aftermath of a massive $230 million hack that occurred in July 2024.

The incident, which compromised over 45% of the exchange’s total reserves, has left the platform and its users in a precarious position.

The High Court of Singapore has granted WazirX a four-month moratorium to restructure its liabilities. This decision comes as a partial relief to the exchange, which had initially requested a six-month period.

The court-mandated conditions require WazirX to disclose its wallet addresses in a court affidavit, respond to user queries, and reveal its book of accounts within six weeks.

WazirX co-founder Nischal Shetty expressed gratitude for the court’s decision, stating that it allows the company to focus on “resolution, recovery and restructuring.”

The exchange’s parent company, Singapore-based Zettai, had filed for restructuring on August 23, seeking temporary relief from legal proceedings.

Hackers Nearly Finished Washing the Money

On-chain data reveals that the hackers responsible for the theft have nearly completed their efforts to launder the stolen funds.

Using the cryptocurrency mixer Tornado Cash, the attackers have systematically moved large amounts of Ethereum (ETH) through the platform, making it increasingly difficult to track the funds. As of the latest reports, only about $6 million worth of ETH remains in the hacker’s main wallet.

The use of Tornado Cash, a decentralized service that commingles cryptocurrencies to obscure their origin, has complicated recovery efforts. Despite being sanctioned by the United States Treasury in 2022, the mixer continues to operate due to its decentralized nature, handling nearly $2 billion in transactions through July 2024.

In an attempt to mitigate the impact on users, WazirX has partially lifted its withdrawal suspension, allowing customers to withdraw up to 66% of their Indian Rupee (INR) balances. However, the exchange has admitted that users are unlikely to recover 100% of their assets, particularly their cryptocurrency holdings, due to insufficient reserves.

The WazirX hack has also reignited discussions about the exchange’s ownership and responsibilities. Binance, previously thought to be associated with WazirX, has publicly denied any ownership or responsibility for the security breach. This contradicts earlier statements made by WazirX founder Nischal Shetty, adding another layer of complexity to the situation.

As part of its recovery strategy, WazirX is actively seeking partnerships to infuse cash and navigate through the crisis. The exchange has reportedly entered into discussions with at least 11 other exchanges and signed non-disclosure agreements with three potential partners.

Some analysts have speculated that the sophisticated nature of the attack might point to involvement from state-sponsored actors, such as the North Korean Lazarus Group, though this remains unconfirmed.

As the four-month restructuring period begins, WazirX faces the daunting task of rebuilding trust with its user base while working to recover as much of the stolen funds as possible.

The post WazirX Struggles to Recover After $230 Million Hack, Court Grants Restructuring Period appeared first on Blockonomi.

TLDR

Bedrock, a multi-asset liquid staking protocol, suffered a $2M exploit involving uniBTC

The exploit has been “handled” and remaining assets are safe

Bedrock is finalizing a reimbursement plan and will share a post-mortem report

Most losses were in DEX liquidity pools; wrapped BTC and BTC reserves are secure

Bedrock is the 8th largest liquid staking protocol with over $240M in TVL

On September 27, Bedrock, a multi-asset liquid staking protocol, confirmed it had fallen victim to a security exploit. The incident, which involved uniBTC, a synthetic Bitcoin token used in DeFi, resulted in the loss of approximately $2 million in assets.

Bedrock quickly addressed the situation, assuring users that the root cause had been “handled” and that all remaining funds were safe.

Bedrock, launched in February 2023 by Singapore-based blockchain firm RockX, is designed to attract institutional investors to liquid staking.

Important Announcement from the Bedrock Team

We want to inform you that the Bedrock team is aware of a security exploit involving uniBTC. The issue has been handled and funds are SAFU.

We want to reassure everyone that the underlying wrapped BTCs and BTCs in reserves are…

— Bedrock | Bitcoin Restaking LIVE (@Bedrock_DeFi) September 27, 2024

The protocol offers products such as uniBTC, uniETH, and uniIOTX, which are synthetic representations of major blockchain tokens allowing users to earn yield through staking.

Prior to the exploit, Bedrock had established itself as the eighth-largest liquid staking protocol in the market, with over $240 million in total value locked (TVL).

The exploit primarily affected decentralized exchange (DEX) liquidity pools. Bedrock was quick to clarify that the underlying wrapped BTC tokens and standard Bitcoin held in reserves remained secure. This information helped to alleviate some concerns about the extent of the breach.

In response to the incident, Bedrock announced that it is finalizing a comprehensive reimbursement plan for affected users.

The protocol also committed to sharing a detailed post-mortem report in the near future, demonstrating a commitment to transparency and learning from the incident.

The Bedrock team used social media to communicate with users and the wider crypto community. In a post on X (formerly Twitter), they acknowledged the exploit and provided initial details about the incident.

This swift communication helped to keep users informed and may have prevented further panic in the aftermath of the exploit.

Liquid restaking protocols like Bedrock have seen significant growth in recent months. The sector now boasts over $11.4 billion in TVL, indicating its increasing popularity among crypto investors.

Bedrock’s position as the eighth-largest protocol in this space underscores its importance in the ecosystem.

The incident at Bedrock occurs against the backdrop of rapid growth in liquid restaking and native restaking protocols.

Since the launch of ETH restaking protocol Eigenlayer in April, these sectors have become some of the largest in the crypto industry. Eigenlayer alone now has more than $12.1 billion in TVL on its mainnet, according to data from DefiLlama.

Bedrock’s approach to the exploit demonstrates the protocol’s focus on security and user trust. By prioritizing strict Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance, Bedrock has positioned itself as a platform suitable for institutional investors with large sums of capital.

The post Bedrock Protocol Reports $2M Exploit: Reimbursement Plan in Progress appeared first on Blockonomi.

TLDR:

Hamster Kombat conducted its HMSTR token airdrop, disappointing many players

HMSTR token price fell sharply after listing on exchanges

Many users received very small amounts of tokens worth less than $10

The hashtag #HMSTRSCAM is trending as users express outrage

Technical issues and accusations of unfair distribution have damaged the project’s reputation

The highly anticipated token launch for Hamster Kombat, a popular tap-to-earn game on Telegram, has encountered significant challenges and user backlash.

On September 26, 2024, the project conducted its long-awaited airdrop of HMSTR tokens, but the event quickly turned sour as many players expressed disappointment with their rewards and the token’s value plummeted on exchanges.

Hamster Kombat, which had amassed over 300 million users since its launch in March, distributed tokens to 131 million qualifying players. However, numerous users took to social media to voice their frustration, describing their HMSTR rewards as “dust” – a term often used to denote trivial amounts of cryptocurrency.

Many complained that their allocations were worth less than $10, despite months of active gameplay and promotion of the project.

The dissatisfaction was further compounded by the token’s performance on cryptocurrency exchanges. Upon listing, the price of HMSTR fell sharply, losing as much as 50% of its value within hours of trading.

According to data from CoinGecko, HMSTR’s price dropped from an initial $0.012 to $0.0087 in just 24 hours. This rapid decline left many players feeling shortchanged, especially those who had invested significant time and effort into the game.

Hamster Kombat Price at Coingecko

Technical issues also plagued the launch, with some users reporting difficulties accessing their tokens due to network overload. The project warned of “overwhelming demand” impacting users’ ability to trade the coin, which only added to the growing frustration within the community.

As news of the troubled launch spread, the hashtag #HMSTRSCAM began trending on social media platforms.

Users accused the project of unfairly disqualifying a large portion of participants from receiving tokens, while allegedly favoring influencers and YouTubers with larger allocations. These claims of inequitable distribution further eroded trust in the project.

The backlash has prompted calls within the community to boycott Hamster Kombat’s social media accounts and block its bot. This negative sentiment threatens to overshadow the game’s previous success and raises questions about its future viability.

Despite the controversy, some exchanges have embraced HMSTR. Binance, one of the world’s largest cryptocurrency exchanges, listed the token for spot trading and even opened futures trading with up to 75x leverage.

Binance included HMSTR in its Super Earn program, offering holders the opportunity to earn up to 300% annual percentage rate for a seven-day locked period.

The Open Network (TON), the blockchain on which HMSTR operates, has faced its own challenges recently. Last month, the network experienced two outages in a single week, linked to the launch of another meme coin.

These issues highlight the broader technical challenges facing blockchain projects as they attempt to scale and manage sudden influxes of user activity.

As of the latest reports, over 108,000 wallets hold HMSTR tokens, with a significant portion of the circulating supply held in a Binance hot wallet. This suggests that many players quickly moved to sell their tokens on the exchange, contributing to the price decline.

The Hamster Kombat team has stated that 15 billion HMSTR tokens have been reserved for the game’s second season, indicating plans to continue development and potentially address user concerns.

However, the immediate future of the project remains uncertain as it grapples with the fallout from its troubled token launch.

The post Hamster Kombat Token Launch Faces Backlash as HMSTR Price Plummets & Users Cry Foul appeared first on Blockonomi.

TLDR

Spot Bitcoin ETFs saw $365.7 million in net inflows on Sept. 26, a two-month high

ARK 21Shares’ ARKB led with $113.8 million in inflows

BlackRock’s IBIT drew $93.4 million, continuing its four-day inflow streak

Grayscale’s GBTC was the only Bitcoin ETF with outflows ($7.7 million)

Spot Ethereum ETFs recorded net outflows of $675,450 on the same day

On September 26, 2024, the spot Bitcoin exchange-traded funds (ETFs) in the United States witnessed a significant surge in inflows, reaching a two-month high of $365.7 million.

This marks a continuation of the six-day upward momentum for these investment vehicles. The last time such high inflows were observed was on July 22.

Leading the pack was ARK 21Shares’ ARKB, which attracted an impressive $113.8 million in new investments. BlackRock’s IBIT, the largest Bitcoin ETF, wasn’t far behind, drawing in $93.4 million.

This influx marks IBIT’s fourth consecutive day of inflows, pushing its total net inflows since launch to over $21.3 billion.

Other spot Bitcoin ETFs also experienced notable inflows. Fidelity’s FBTC brought in $74 million, while Bitwise’s BITB and VanEck’s HODL ETFs saw inflows of $50.4 million and $22.1 million, respectively.

Smaller funds like BTCO, EZBC, BRRR, and Grayscale Bitcoin Mini Trust also joined the positive trend with inflows ranging from $2.9 million to $6.5 million.

However, not all Bitcoin ETFs shared in the day’s success. Grayscale’s GBTC stood out as the sole Bitcoin ETF to record outflows, with $7.7 million exiting the fund.

This continued a trend for GBTC, which has now seen total outflows exceeding $20.1 billion since its launch.

The surge in activity wasn’t limited to inflows alone. The total trading volume for the 12 Bitcoin ETFs skyrocketed to $2.43 billion on September 26, more than tripling the previous day’s figure.

Since their launch, these funds have accumulated a total net inflow of $18.31 billion.

This increased interest in Bitcoin ETFs coincided with a rise in the price of Bitcoin itself. The leading cryptocurrency had risen 2.7% over the past day, trading at $65,323 at the time of reporting.

While Bitcoin ETFs were experiencing a boom, the story was different for Spot Ethereum ETFs. These funds recorded net outflows of $675,450 on September 26, ending a brief two-day streak of inflows.

The majority of these outflows came from Grayscale’s ETHE, which saw $36 million leave the fund.

However, not all Ethereum ETFs faced outflows. BlackRock’s ETHA and Fidelity’s FETH managed to attract $15.3 million and $15.9 million in inflows, respectively.

Smaller Ethereum ETFs like QETH, ETHW, ETHV, and CETH also saw modest inflows ranging from $663,000 to $2 million.

Despite the outflows, trading volume for Ethereum ETFs increased, jumping to $257.4 million on September 26 from $124 million the previous day. Since their inception, spot Ether ETFs have experienced total net outflows of $581.61 million.

The cryptocurrency market itself reflected these trends, with Ethereum trading at $2,652 at the time of publication.

These movements in both Bitcoin and Ethereum ETFs highlight the dynamic nature of the cryptocurrency investment landscape.

The post U.S. Spot Bitcoin ETFs See $365.7 Million Inflow as Ethereum ETFs Face Outflows appeared first on Blockonomi.

TLDR

Worldcoin (WLD) token surged 31% in the past week

World ID services expanded to Guatemala, Poland, and Malaysia

Expansion aims to combat AI-related fraud and privacy concerns

83-88% of Guatemalans support technologies distinguishing humans from bots

Orb locations for identity verification available in Guatemala from September 25

Worldcoin, a cryptocurrency project focused on digital identity verification, has seen significant growth in both its market value and global presence.

The project’s native token, WLD, experienced a 31% surge in value over the past week, despite a slight market pullback. This price increase coincides with Worldcoin’s expansion of its World ID services to three new countries: Guatemala, Poland, and Malaysia.

The expansion of Worldcoin’s services comes at a time when concerns about artificial intelligence (AI) and digital fraud are on the rise.

The project aims to provide a decentralized solution for verifying human identity, addressing the growing need for distinguishing between human users and AI bots online.

In Guatemala, where the service is set to launch, Worldcoin reports strong public interest in AI-related issues. According to the company, 83% of Guatemalans want to know if the content they’re viewing was created by AI.

Additionally, 84% express concern about AI advancements making it harder to differentiate between humans and bots, while 88% support technologies that can verify human identity in online interactions.

To facilitate identity verification, Worldcoin is introducing “orbs” – physical locations where individuals can verify their identity using the platform’s technology. These orbs will be available in Guatemala starting September 25, 2023.

Worldcoin Price on CoinGecko

While specific deployment details for Poland have not been announced, the World ID service has already been introduced in Malaysia earlier in the week.

Worldcoin’s approach to identity verification is based on what they call a “proof-of-personhood” system, which is detailed in the project’s whitepaper.

This system aims to provide a decentralized method for confirming an individual’s identity while maintaining privacy in an increasingly AI-driven world.

The recent developments in Worldcoin’s global expansion and the positive market response to its token highlight the growing interest in digital identity solutions.

As AI technology continues to advance rapidly, the demand for reliable methods to verify human identity in online interactions is likely to increase.

Worldcoin’s expansion into new markets suggests that the project is gaining traction in its mission to create a global identity verification system.

The introduction of orb locations for in-person verification represents a tangible step towards implementing this technology on a broader scale.

The surge in WLD token value may be attributed to increased investor interest resulting from these expansions and the growing awareness of the need for identity verification in the digital age.

The post WLD Token Surges 31% Amid Worldcoin’s Global Expansion appeared first on Blockonomi.

TLDR

Shiba Inu (SHIB) surged 22% to $0.00001893

SHIB’s trading volume increased 237% to $1.38 billion

Bitcoin also up 2%, reclaiming $65K mark

CoinCodex projects SHIB to hit $0.00002908 by October 3

Sentiment is bullish, but price may stabilize around $0.00001868 by late October

The cryptocurrency market has witnessed a notable development as Shiba Inu (SHIB), a popular meme-inspired digital token, experienced a substantial price increase of 22% on September 27, 2024.

This surge propelled SHIB to a new price level of $0.00001893, marking a significant milestone for the token after months of price consolidation.

According to data from CoinMarketCap, a leading cryptocurrency tracking website, SHIB’s trading volume skyrocketed by 237% during this period.

The total trading volume reached $1,385,064,509, with trillions of SHIB tokens changing hands within the cryptocurrency sector. This dramatic increase in trading activity played a crucial role in driving the token’s price upward.

The surge in Shiba Inu’s value coincides with a broader positive trend in the cryptocurrency market. Bitcoin, the largest cryptocurrency by market capitalization, also saw a 2% increase in the last 24 hours, reclaiming the $65,000 price mark.

This upward movement in Bitcoin’s price appears to have had a ripple effect on the altcoin market, with SHIB particularly catching the attention of investors and traders.

Industry analysts attribute this market-wide momentum to a combination of factors, including increased institutional interest, positive regulatory developments, and growing mainstream adoption of cryptocurrencies.

However, it’s important to note that cryptocurrency markets are known for their volatility, and price movements can be influenced by a variety of unpredictable factors.

Looking ahead, some market observers are speculating about the potential for continued growth in SHIB’s price.

Shiba Inu Price on CoinGecko

CoinCodex, a cryptocurrency analysis platform, has projected that Shiba Inu may reach a new high of $0.00002908 by October 3, 2024. This forecast is based on an analysis of positive and negative trends observed over the past 30 days.

However, the same analysis suggests that the price may stabilize or even decrease slightly in the latter part of October.

CoinCodex predicts that SHIB could settle around $0.00001868 by October 26, representing a small decrease from its current levels.

It’s worth noting that these projections are speculative and should be viewed with caution. The cryptocurrency market is known for its unpredictability, and past performance does not guarantee future results.

Investors and traders are always advised to conduct their own research and consider their risk tolerance before making financial decisions.

Despite the potential for price fluctuations, the current market sentiment surrounding Shiba Inu appears to be generally positive.

CoinCodex reports that its technical indicators suggest a bullish outlook, while the Fear & Greed Index, a popular metric for gauging market sentiment, currently stands at 50, indicating a neutral position.

The recent price surge has reignited interest in Shiba Inu among cryptocurrency enthusiasts and investors.

Originally created as a lighthearted alternative to Dogecoin, another meme-inspired cryptocurrency, SHIB has gained a significant following and has been listed on several major cryptocurrency exchanges.

The post Shiba Inu Token Sees 22% Price Increase Amid Market Uptrend appeared first on Blockonomi.

Currently, Solana has been seen as one of the most notable contenders in the cryptocurrency industry, owing to which there is high throughput with few transactions, the company racked in the moniker of ‘Ethereum Killer.’ However, while it hopes to achieve more future all-time-high records, many smart investors are shifting their focus to Rexas Finance (RXS), a new and growing company boasting a potential of 2000% appreciation. This paper analyzes the trends of the price behaviour of Solana, factors that will make it ascend, and how Rexas Finance is becoming popular as the next big thing in the decentralized finance ecosystem.

New All-Time High For Solana Price

As we reached the year 2024, Solana pricing remained consistent since the year commenced. Earlier this year, SOL made it big when its price hit the unimaginable height of $200. Nonetheless, following this sharp price increase, the altcoin entered a period of depreciation, dropping down to roughly 132 dollars. At the moment, most investors are bearishly biased toward the given cryptocurrency; however, many experts are convinced that Solana is capable of recuperating and even setting a new high. The growth of the cryptocurrency market as a whole helps the growth of some of the major altcoins, including Solana. So long as this positive trend remains, Solana may settle within the upward style and will remain one of the top-performing assets within the market. As per the recent report on the potential price forecasts of Solana by GSR Markets, it is evident that the anticipation surrounding Solana has been supported by facts. The report further denotes that once a spot Solana ETF is launched in the US, the potential to influence the price of the cryptocurrency will be tremendous. GSR in this case estimates that a Solana ETF could spike the value of the currency by up to 9x where it is currently.  The report is based on the assumption that up to 14% of the inflows currently attracted by Bitcoin ETFs will be devoted to spotting Solana ETFs when they are offered. In an optimistic scenario, Solana’s price could well cross $1,320 with a bumped-up market cap of $614 billion. Even in baseline or bearish scenarios where pessimism can creep in, the price of Solana is projected to grow between 1.4x and 3.4x from its current value. Still, various regulatory issues continue to impede development, with the leadership from SEC Gary Gensler being rather lukewarm about Solana.

Rexas Finance: A SOL Competitor That Will Increase By 2000%

As Solana takes over in search of its peak price, prudent investors are looking towards another blockchain project, Rexas Finance (RXS). Rexas Finance is a decentralized financial (DeFi) institution, that concentrates on the tokenization of real-world assets. The platform seeks to help users and businesses overcome the existing barriers in either the rental market or conventional asset classes by enabling, for example, property, art, and commodities to be easily and quickly lit up where liquidity is not available. Rexas Finance solves most of the challenges that are available in conventional finance and within the entire blockchain space. Whether you are an individual or an institution, Rexas enables you to trade tokenized assets as it gives a platform for asset tokenization that is secure and dependable. Its ecosystem comprises the Rexas Token Builder, AI threat detection, and the Treasury created for funding DeFi initiatives, among other tools. It is a superimposition of innovation, transparency, and usefulness that positions Rexas Finance among the strong players within the Defi space and a possible competitor to Solana.

Rexas Finance Presale Update

Moving forward with Rexas Finance as of today, there is a very exciting presale that has captured the interest of the smart money investors. Stage 1 of the presale, Rexas Finance, sold out in under 72 hours, depicting a huge appetite for the tokens. Stage 3: Investors have quickly taken advantage of the token first on presale at the price of $0.05, spending considerable amounts on the presale and selling tens of millions within a very short time. This kind of success in the early stages has made many analysts think Rexas Finance might rise by 2,000%, making early investors reap some good returns. From the most recent presale statistics, the amount Rexas Finance has already raised is  $1,387,307 and smart investors smell money. As there is a limited number of tokens, the fixed price increases with each successive presale stage, endowing higher appetites. Many analysts boasted that the RXS token is bullish, would surge exponentially, and would need no stress in every diversified crypto portfolio. For the early investors in the Rexas Finance project, this is the rare opportunity to invest in the next big thing in the crypto space.

Rexas Finance Giveaway

Posing another question to those already guessing beyond Rexas Finance or making new guesses is the recently launched Rexas Millionaire Giveaway, where 20 random winners pull $50,000 USDT each. The purpose of this promotion was to attract the community and get people interested in the presale. Thus motivating investors with this giveaway encourages them even more to invest in the project since they would also want to position themselves ahead of the rise in token prices. The giveaway is also constructed in such a way that participants will have to provide their ERC20 wallet and enter and complete creative and engaging tasks that have been crafted to promote participation and activity within the community. It adds to the rush of the possibilities of winning that such additional entries through referrals create excitement as it is possible for the investors to sell the project to other people on top of the ones that are already in it. The crash of a rich giveaway and its increase in value soon stand as a simple yet valid explanation of the increase in the number of investors in the Rexas Finance ecosystem.

Conclusion

Any looking into making a high-upside investment in the year 2024 need to have in their analysis the steps of Rexas Finance. The way the project tends to depersonalize asset ownership and moves from one stage of fanatical anticipation of the development of this presale to another with steady investor interest makes a great deal of sense. Invest now into Rexas Finance to secure your position ahead of the rising presale price. Take this chance to be part of the next big thing in blockchain technology!

For more information about Rexas Finance (RXS) visit the links below:

Website: https://rexas.com

Win $1 Million Giveaway: https://bit.ly/Rexas1M

Whitepaper: https://rexas.com/rexas-whitepaper.pdf

Twitter/X: https://x.com/rexasfinance

Telegram: https://t.me/rexasfinance

The post Solana Targets a New All-Time High, But Smart Investors Are Betting on a 2,000% Surge from This SOL Rival appeared first on Blockonomi.

Major fintech players are exploring entry into the lucrative stablecoin market – and there is more to come.

Robinhood Markets, an US-based prominent trading platform, and Revolut, a UK banking entity, are considering offering their own stablecoins, Bloomberg reported, citing a source with knowledge of the matter. If confirmed, the two major fintech firms would join PayPal in one of the most lucrative and highly competitive markets at this time.

Yet there are “no immediate plans” to issue a stablecoin coin, said a spokesperson of Robinhood, which already offers trading in a wide range of digital assets, including Circle’s USDC stablecoin.

The Next Money

Revolut did not comment on the potential move, but a spokesperson said that the company was looking to expand its cryptocurrency offerings.

The news comes at a time when stablecoins gain increased attention from financial institutions and leading companies. PayPal was among the first payment giants to enter the market with the launch of its PayPal USD, or PYUSD.

PayPal’s PYUSD stablecoin has already reached a $700 million market cap, becoming the fourth-largest stablecoin.

In the cryptocurrency sector, some entities are also bringing forward stablecoin plan. Ripple, the company behind the leading cryptocurrency in terms of market cap, is close to debuting its own stablecoin, the Ripple USD (RLUSD).

RLUSD is now being “rigorously tested” on XRP Ledger (XRPL) and Ethereum, where it will initially launch. Ripple is fine-tuning the mechanisms of minting and burning RLUSD before its official launch.

While the company has not confirmed the exact launch date, Ripple CEO Brad Garlinghouse has indicated that the product will come in the coming weeks.

Like Ripple, BitGo, the creator of the Wrapped Bitcoin, also plans to soon launch its stablecoin, USDS, as early as 2025. The company also aims to redistribute up to 98% of earnings to its network supporters, including institutions, exchanges, liquidity providers, and users.

EU Regulations and Tether’s Uncertainty

Stablecoins are becoming more widely used for payments, especially in emerging markets. The stablecoin market is also a highly profitable market. Tether reported $6.2 billion in net operating profits in 2023, largely from interest on the assets backing USDT’s value.

Tether and Circle are now controlling about 90% of the $170 billion industry. The arrival of newcomers could challenge the companies’ market share, especially as stricter regulations in Europe and elsewhere are believed to loosen Tether’s grip on the market.

Under the Markets in Crypto-Assets Regulation (MiCA), the European Union’s first established legal framework for digital assets, including stablecoins. Issuers will need to meet certain requirements to be able to operate in the area. However, Tether is now not registered under MiCA.

Tether CEO Paolo Ardoino previously expressed concerns about the risks of EU rules, but he noted the company is working on a solution to serve the EU market. Still, the future of Tether in the EU is uncertain as the MiCA regulations are expected to be fully implemented by the end of 2024.

Failing to comply with MiCA could force exchanges to delist stablecoins from issuers like Tether without appropriate permits. Some exchanges already limited USDT’s capabilities on their platforms.

The MiCA rules, however, are also anticipated to stimulate stablecoin activity. Legal clarity is the strength that any stablecoin issuers are looking for and the regulations indeed unify the fragmented regulatory environment across Europe, provide clarity and ensure financial stability and investor protection.

This can encourage more participants to enter the market, knowing they have a defined legal framework to operate within. As of now, Circle already has the required EU license.

USDT has not only faced competition from other cryptocurrency firms but also mainstream brands, neobanks, which are all considering entering the space. However, its head start gives it an edge over others. Despite the competition from PayPal, USDT’s market value has shown no sign of falling.

The post Fintech Giants Eye $170B Stablecoin Market: Robinhood & Revolut Considering Entry appeared first on Blockonomi.

Q4 has metrically been the most bullish for Bitcoin. BTC’s intraday 2.1% spike on Thursday further fueled excitement in the crypto community.

Investors are gearing themselves for the final quarter, accumulating the promising altcoins across the AI sector, meme-project sector, and foundational blockchains, i.e., Bittensor, Shiba Coin, and Bitgert, respectively.

Shiba leads the pack among top meme projects, reflecting a 25.3% rally in the last seven days. Ongoing developments within the Bitgert ecosystem have also intrigued investors ahead of the expected bullish trend.

Which of this week’s top gainers, Shiba and Bitgert, can offer investors better value in the last quarter? Let’s find out.

Can Shiba Delete Two Zeros in Q4?

Shiba, the largest meme-coin after $DOGE, has demonstrated reliability and dedication to meme enthusiasts. Shiba is one of the meme coins leading the ongoing meme rally. $SHIBA is trading at $0.00001846, reflecting an 18.3% surge on Thursday.

On-chain data shows fees on the Shibarium network jumped to 438, reflecting an over 1500% increase from its month low. Although this abrupt surge in gas fees can be traced to increased market activity in the Shibarium network, such price fluctuations have made Bitgert a suitable alternative that provides developers and users with zero gas fees on its blockchain.

Additional data from Nansen, an on-chain analytics platform, shows that Shiba had a net outflow of over 41 million tokens the past week, moving the $SHIBA total supply on significant exchanges to about 25.5%. This data translates to a bullish sign—investors are holding $SHIBA. Analysts are confident the Shiba could glide on the current meme craze and the increased market optimism and delete at least two zeros in Q4. Ahead of the bullish swing in October, Shiba has become one of the investors’ top options. 

Bitgert: A Long-term Alternative

Bitgert has grown into one of the most efficient L1 blockchain platforms. Bitgert’s growth could be traced to its mission of providing users with true digital ownership. Bitgert aims to achieve this by offering users top-level security, improved scalability, and user-friendly solutions in its ecosystem. These solutions include PayBrise, Bitgert.exchange, Startup Studio, etc.

These solutions have been unique entry points for developers and traders into the Bitgert ecosystem. For instance, Bitgert launched a Grant Program in a recent monthly campaign through Startup Studio under Bitgert Innovation Labs.

This program encourages developers to maximize Bitgert’s functionalities (100K transactions per second and close to zero gas fees) to build their applications on its blockchain to stand a chance to win rewards from a pool of $25K. Bitgert would offer top-performing projects with marketing and promotional aid in the long term. 

These developments would undoubtedly increase Bitgert’s market activity and value in the long term.

Buy $BRISE on the Bitgert website today; visit https://bitgert.com.

The post Shiba Coin Price Analysis: Can Bitgert Offer Better Value? appeared first on Blockonomi.

TLDR

Mark Cuban expressed interest in becoming SEC chair if Kamala Harris becomes president

Cuban criticized current SEC chair Gary Gensler as “awful” for crypto and businesses

Harris recently made crypto-positive remarks, promising to encourage innovative technologies

Cuban has been vocal in his criticism of Gensler’s approach to crypto regulation

Some view Cuban as a potential “breath of fresh air” for the SEC compared to Gensler

Mark Cuban, the billionaire entrepreneur and owner of the Dallas Mavericks, has expressed interest in becoming the chair of the U.S. Securities and Exchange Commission (SEC) if Kamala Harris becomes the next President of the United States.

This revelation came during an interview with Neil Caputo on Fox News, where Cuban was asked about potential positions in a Harris administration.

When presented with options such as Treasury Secretary or Commerce Secretary, Cuban’s response was clear: “Head of the SEC. That’s the job I would take.

” He emphasized the need to replace current SEC Chair Gary Gensler, stating, “somebody needs to replace Gary Gensler.”

Cuban’s interest in the SEC chair position comes amid his criticism of Gensler’s approach to cryptocurrency regulation. The billionaire didn’t mince words, describing Gensler as “awful, particularly for crypto and for businesses in general.”

This sentiment echoes Cuban’s previous statements on social media, where he called Gensler “a blight on the technology community.”

The timing of Cuban’s comments aligns with recent remarks made by Kamala Harris at a New York fundraiser. Harris promised to “encourage innovative technologies like AI and digital assets” under her administration, marking what are believed to be her first crypto-positive statements.

Gary Gensler is a blight on the technology community. He says Howey is the law of the land. If it was, there never would be a reason for Reves vs Ernst &Young to exist https://t.co/QebV6xb3uy

— Mark Cuban (@mcuban) September 24, 2024

Cuban highlighted this promise, noting Harris’s commitment to advancing technologies such as artificial intelligence and blockchain.

Cuban’s potential candidacy for SEC chair has garnered support from some in the crypto community. John Deaton, a lawyer and entrepreneur, suggested that Cuban would be a “breath of fresh air” compared to the “lawlessness of Gary Gensler.”

This sentiment reflects growing frustration within the crypto industry over what many perceive as a lack of regulatory clarity under Gensler’s leadership.

The current SEC chair has taken a hard-line approach to crypto companies, often labeling them as securities and pursuing legal action against those deemed to be in violation of securities laws.

This approach has been a source of contention, with many arguing that it stifles innovation and growth in the U.S. crypto industry.

Cuban’s criticism of Gensler extends beyond crypto regulation. In a recent post on X (formerly Twitter), Cuban argued against Gensler’s interpretation of the Howey Test, a standard used to determine whether a transaction qualifies as an investment contract.

Gensler is gone https://t.co/NbPd4RQkM7

— Mark Cuban (@mcuban) September 24, 2024

Cuban pointed out the existence of other legal precedents, such as Reves vs. Ernst & Young, suggesting that Gensler’s approach may be overly simplistic.

The billionaire’s interest in the SEC chair position highlights the growing importance of cryptocurrency regulation in mainstream finance and politics.

As digital assets continue to gain traction, the regulatory landscape will play a crucial role in shaping the industry’s future.

If appointed, Cuban would bring a different perspective to the SEC, potentially fostering a more innovation-friendly environment for crypto and other emerging technologies.

However, it’s important to note that any such appointment would be contingent on Harris winning the presidency and choosing to nominate Cuban for the position.

The post Mark Cuban Considers SEC Chair Role, Questions Gensler’s Crypto Policies appeared first on Blockonomi.

Despite SEC’s chair, Gary Gensler denying Bitcoin the status of a security on Thursday, Bitcoin experienced a surge. Bitcoin reached $65K, its highest price level since late July. This sudden spike is expected to increase investor interest in altcoins as we approach the final months of 2024. 

Worldcoin’s 31.2% rally last week will make it an obvious choice for investors in the upcoming bull cycle. Bitgert, another promising project, could experience growing investor interest. Bitgert’s ongoing campaigns and ecosystem developments make it one to watch.

In the following paragraphs, we will consider which of Worldcoin and Bitgert has more potential in the final quarter.

Worldcoin Could Reclaim a New-All Time High

Worldcoin is an open-source protocol developed to grant users access to the global economy. Since Worldcoin was launched in mid-2023, it has been an international success, registering over 16 million users across several countries worldwide. 

In mid-September, Worldcoin was launched in Poland, granting World IDs to new Polish users. Worldcoin soared by 10% during this period. Shortly after reclaiming the crucial $2.0 price level for the first time since August, Worldcoin’s WLD hit a new 30-day high around mid-day on Thursday. When writing, Worldcoin recorded a 31.2% week-long rally and a 17% daily spike, making it one of the top gainers in the entire crypto market. Worldcoin is showing more bullish signs, confirming an upside price reversal.

Despite the current security issues in South Korea, analysts believe Worldcoin’s increased adoption could see WLD reclaim a new all-time high in the coming bull market. 

Bitgert: Enjoying an Influx of Developers 

Bitgert, one of the fastest-growing L1 solutions, experienced another bump in developers’ immigration in September. Ongoing monthly campaigns like the Bitgert Startup Studio Campaign and the Bitgert Hackathon for memecoin developers significantly contributed to the influx of new users and developers into Bitgert’s ecosystem. The Bitgert community counts well over 600K users, processing over 2K transactions daily.

Bitgert community encourages active participation in its monthly contests, where users can win lucrative prizes. For instance, 10% of creators participating in the ongoing #BitgertVideoContest would win rewards of up to $10K. 

The influx of developers flocking into the Bitgert ecosystem could see steady growth in the next few weeks, skyrocketing Bitgert’s $BRISE market value. Now trading at $0.00000008, the current market momentum could see Bitgert experience a healthy correction before breakout next week.

Worldcoin and Bitgert are two promising projects investors could look to accumulate in Q4.

Buy $BRISE on the Bitgert website today; visit https://bitgert.com.

The post Worldcoin Price Analysis vs Bitgert: Which Has More Potential? appeared first on Blockonomi.

Quick Overview: 11 Proven Ways to Get Rich off Crypto In 2024

Read this short introduction to the 11 ways of getting rich through crypto in this vast era of earning opportunities.

1. Crypto Staking– Lock up your cryptocurrencies to earn rewards, contributing to network security. It’s a passive income strategy with lower risk compared to trading.

2. Cloud Mining- Mine cryptocurrencies without owning hardware by renting mining power from a cloud service. It’s user-friendly and accessible but relies on third-party providers.

3. HODLing- Buy and hold cryptocurrencies for the long term, banking on appreciation. This strategy requires patience and is less stressful but may tie up capital.

4. Day Trading- Engage in short-term buying and selling to capitalize on market volatility. It can yield quick profits but involves high risk and constant market monitoring.

5. Yield Farming & Staking- Lend your crypto to earn interest or rewards, often through DeFi platforms. High returns are possible, but this method involves complexity and market risks.

6. Investing in Altcoins- Invest in alternative cryptocurrencies with high growth potential. While many altcoins can outperform Bitcoin, they come with increased risk and require thorough research.

7. ICOs & Token Sales- Participate in initial coin offerings to invest early in new projects. Potentially lucrative but carries high risk due to scams and regulatory issues.

8. Crypto Lending & Borrowing- Earn interest by lending your crypto or access funds by borrowing against your assets. It offers liquidity but relies on the platform’s reliability.

9. Investing in Startups- Invest in blockchain or crypto startups for high return potential. This method involves high risk and requires in-depth research and patience.

10. Monetizing Crypto Content- Create and share crypto-related content to generate income through ads, sponsorships, or donations. It can be rewarding but requires consistent effort and faces stiff competition.

11. Leveraged Trading- Use borrowed funds to increase your trading position for amplified profits. High potential returns come with significant risk, making it suitable for experienced traders only.

1.       Crypto Staking-Earn passive income

Lock up your cryptocurrencies in a digital wallet to earn rewards while contributing to its network security. It’s a passive income strategy with lower risk compared to trading. How it works: The staking process involves locking some crypto within the blockchain network, allowing them to validate and deal with transactions by keeping the network secure. When the investors do transactions, they will get rewards in return. Users can either reinvest these rewards or withdraw them. Why Choose CryptoHeap for Staking? CryptoHeap could attract users because of its various staking plans. Also, it provides you with several options according to your wishes and goals related to your investment. 1. Variety of Staking Plans There are several staking plans available on CryptoHeap that deal with diverse cryptocurrencies such as Ethereum, Solana, Bitcoin, and Cardano. All these cryptocurrencies have different periods for locking up, rewards, and minimum quantities that are required for staking. 2. Competitive APYs A competitive annual percentage yield is offered by CryptoHeap when staking with CryptoHeap.  So you can boost up your portfolio when staking with CryptoHeap. Due to this scenario, APYs are often updated on the platform and this will enable the users to get maximum returns. 3. Ease of Use CryptoHeap is a user-friendly platform, that makes staking easy, by providing step-by-step guidance on return. Its user-friendly interface allows you to start staking easily whether you are a beginner or an experienced user. 4. Security and Reliability CryptoHeap platform is often associated with good security measures. Advanced security options such as multi-signature wallets and encryption protocols protect users’ assets. Also, CryptoHeap is a reliable platform because it has the best returns as mentioned in the platform.  Get Started Staking on CryptoHeap 1. Create an Account: The first action to get started with CryptoHeap is to make an account in CryptoHeap. This will request your basic information and verify it for compliance measures. Welcome Bonus: CryptoHeap offers a very generous $100 welcome bonus. New users who deposit the minimum amount will receive this bonus to boost their staking power. This is a great way to begin with the staking and ensure maximum advantages from the first day onwards. Here is the way of getting welcome rewards from CryptoHeap. 2. Fund Account: After you make the account on CryptoHeap you can fund it. CryptoHeap accepts various payment methods such as cryptocurrency deposits or else bank transfers 3. Investment Options Research: With the money available in your account you can follow various investment options that are included in the CryptoHeap store. 4. Start Investing: After selecting the staking plan you like, you can proceed with the transaction. 5. Track and Manage: After finishing the investment process you can flow up and monitor the performance of your investment plan by using the CryptoHeap dashboard.  More Than Staking: CryptoHeap Affiliate Program CryptoHeap has affiliate marketing programs apart from staking. This is a way to earn an extra income by bringing new users to the CryptoHeap platform. Affiliate Programs are also providing the best rewards as you bring new users to the platform via a Referral link. Level 1 user– when you bring an affiliate to the platform you will receive 3.5% cashback on all payments they made. Level 2 user– when your affiliate brings another participant to the platform, you will receive a 1.5% commission from the participant when they do transactions via the platform.  2.       Cloud Mining- Mine crypto effortlessly Cloud mining allows you to rent mining power from remote data centers and eliminate the requirement for expensive hardware. It’s an accessible option for those wanting to mine without the technical complexities. How it works: Cloud Mining allows users to mine cryptocurrencies without the costs associated with purchasing expensive hardware or paying for infant electricity. Users have the power to from a remote data center, instead of building their own mining rigs. Users purchase contracts in which they state the amount of hashing they would like to use including any technical details which concern the cloud mining provider implements. 3.       HODLing- Buy and hold Buy and hold cryptocurrencies for the long term, banking on appreciation. This strategy requires patience and is less stressful but may tie up capital. How it works: The strategy of HODLing (holding on for dear life) involves buying cryptocurrencies and holding them long-term, regardless of market fluctuations. This approach is rooted in the belief that many cryptocurrencies will appreciate significantly over time, especially established coins like Bitcoin and Ethereum. 4.       Day Trading- Profit from price swings Short-term buying and selling to capitalize on market volatility is simply known as day trading. It can yield quick profits but involves high risk and constant market monitoring. How it works: Day trading involves buying and selling cryptocurrencies on the same day to take advantage of short-term price changes. It is true that there is a risk in day trading with a lot of understanding of the market, experienced day traders can make big profits by using price fluctuations. 5.       Yield Farming & Staking- Lend your crypto for interest Users earn interest or rewards by lending out their cryptocurrency which usually comes from DeFi platforms. How it works: Yield farming provides a chance to lend your cryptocurrency to earn interest, while staking involves earning rewards by supporting a network. These methods will provide you high rewards, but with risks associated with market volatility. 6.       Investing in Altcoins- Discover hidden gems Investing in alternative cryptocurrencies allows you to get high growth potential. While many altcoins can outperform Bitcoin, they come with increased risk and require thorough research. How it works: Investing in altcoins allows you to buy other types of cryptocurrencies other than Bitcoin. These can have big chances to grow in value. Some altcoins might even have higher performance than Bitcoin, but they can also be more risky and need careful study before investing. 7.       ICOs & Token Sales- Get in early Participate in initial coin offerings to invest early in new projects. Potentially lucrative but carries high risk due to scams and regulatory issues. How it works: Initial Coin Offerings (ICOs) and token sales are ways that new cryptocurrency projects raise money. Investing in an ICO early can bring big profits, but it’s important to do careful research to avoid fraud and make sure the project is real. 8.       Crypto Lending & Borrowing- Earn interest Earn interest by lending your crypto or access funds by borrowing against your assets. It offers liquidity but relies on the platform’s reliability. How it works: Crypto lending refers to allowing others to rent your assets in return for interest, while borrowing means obtaining funds without necessarily selling your crypto. It is very flexible but depends on the insecurity of the lending platform. 9.       Investing in Startups- Support innovative startups Invest in blockchain or crypto startups for high return potential. This method involves high risk and requires in-depth research and patience. How it works: New blockchain and cryptocurrency ventures usually look for investors to grow their businesses. You can earn large returns, for instance, by identifying these companies at the very beginning and waiting for their growth. Such investment prospects can be available through equity-tokenization-oriented platforms. 10.   Monetizing Crypto Content- Turn your crypto knowledge into cash Create and share crypto-related content in order to generate income through ads, sponsorships, or donations. You can earn rewards but it is essential to have consistent effort and face stiff competition. How it works: As crypto-related media is continuously growing, content creators can make money by sharing their knowledge on blogs, podcasts, or YouTube channels. By providing insights, tutorials, and analysis, you can build an audience and generate income through ads, sponsorships, or even cryptocurrency donations. 11.   Leveraged Trading- Maximize profits Use borrowed funds to increase your trading position for amplified profits. High potential returns come with significant risk, making it suitable for experienced traders only. How it works: You can use borrowed funds in leveraged trading to increase your trading position, therefore increasing possible profits. However, it has come across with increased risks and is ideal for expert traders who can handle fluctuations. Conclusion The cryptocurrency landscape in 2024 provides a number of opportunities to create wealth. Whether you prefer passive income through staking or active strategies like day trading, there’s a method for everyone. Always remember to conduct thorough research, follow your portfolio to manage your risks, and invest wisely!

The post 11 Ways to Get Rich Through Cryptocurrency in 2024 appeared first on Blockonomi.

The rapid expansion of the blockchain sector has brought impressive advancements, yet a major obstacle persists: the difficulty of communication between different networks. How can prominent blockchains like Bitcoin, Ethereum, and Solana connect and collaborate without friction? Qubetics $(TICS), the world’s first Layer 1 Web3 aggregator, tackles this challenge by creating interoperability between these leading blockchains, unlocking the full potential of decentralised technology.

The Qubetics presale is set to begin next week. Stage one will offer the $TICS token at a low entry price for early participants. As each stage progresses, the price will increase, rewarding those who join early. Before this opportunity unfolds, let’s look at what makes $TICS stand out.

Qubetics Enhances Blockchain Interoperability with Web3 Aggregation

Currently, most blockchain networks operate in isolation, limiting the ability to transfer assets or share data across platforms. This hinders the adoption of decentralised applications (dApps) and restricts the capabilities of blockchain technology. Despite their strengths, Bitcoin, Ethereum, and Solana cannot natively communicate, leading to inefficiencies.

$TICS solves this by functioning as a Web3 aggregator, enabling seamless blockchain interaction. $TICS unites isolated networks into a cohesive framework through its unique cross-chain capabilities, facilitating easy asset transfers and data sharing. This unlocks broader opportunities for developers and users, enhancing the blockchain ecosystem’s overall functionality.

Qubetics Leading the Future of Layer 1 Blockchain with Scalability and Interoperability

Layer 1 blockchains serve as the base structure for decentralised applications and systems. They provide the security, scalability, and functionality necessary for blockchain networks to operate independently. However, early Layer 1 blockchain have encountered scalability and communication limitations, particularly in handling large transaction volumes or complex smart contracts.

Qubetics $(TICS) improves upon earlier Layer 1 solutions by offering built-in interoperability and scalability. This eliminates earlier blockchains’ challenges, such as high fees and slow transactions, and creates an environment where developers no longer need to sacrifice security or decentralisation. Qubetics’ Layer 1 infrastructure is designed to be faster, more flexible, and capable of natively supporting cross-chain interactions.

Qubetics Presale: A Timely Opportunity for Early Investors to Maximise Returns

With the Qubetics presale just days away, investors are closely watching the developments. Early-stage investors can buy the native token, $(TICS), at an entry-level price. As the presale advances through multiple phases, the token price will gradually increase, providing those who invest early with substantial return on investment (ROI) potential.

Beyond financial gain, investing in $TICS also means supporting a project that addresses critical challenges in the blockchain ecosystem, such as scalability and interoperability. Qubetics’ innovative Layer 1 Web3 aggregator offers real-world solutions, making it a long-term player in the evolving decentralised technology space.

Conclusion

Qubetics $(TICS) is pioneering a new era of blockchain by addressing the critical issue of cross-chain interoperability through its Web3-aggregated Layer 1 platform. This innovation will significantly enhance the blockchain ecosystem by allowing Bitcoin, Ethereum, Solana, and other major networks to interact seamlessly. 

As the Qubetics presale approaches, the opportunity to be part of this groundbreaking project has never been more appealing. Previous crypto presales have proven to offer significant benefits for those joining early. Now, it’s your chance to seize the moment and position yourself for potentially high returns with $TICS. 

Don’t Miss Your Chance, Launching Soon

Qubetics: https://www.qubetics.com/

Telegram: https://t.me/qubetics 

Twitter: https://twitter.com/qubetics

The post Qubetics Leads as the World’s First Layer 1 Web3 Aggregator for Bitcoin, Ethereum, and Solana appeared first on Blockonomi.

As the global economy continues to integrate, the volume of cross-border payments is expected to skyrocket to over $250 trillion by 2027. This surge highlights an urgent need for more efficient, cost-effective payment solutions that handle high-stakes government and corporate transactions and personal remittances.

While digital technology has transitioned from traditional bank wires to instantaneous mobile payments, the reality of seamless international transfers remains elusive for many. Enter Qubetics $(TICS), a pioneering blockchain platform that has identified gaps in this space and devised solutions ensuring that global payments are as straightforward and economical as domestic ones. 

With its upcoming presale on September 27th, Qubetics offers a unique opportunity for forward-thinking investors to participate in shaping the future of financial transactions across borders.

Challenges in Cross-Border Payments:

Despite advancements in technology, cross-border payments still face significant challenges. One major issue is that different countries have payment systems, which only sometimes work well together. This forces businesses to rely on several banks and payment providers that help manage money exchanges and complete transactions.

As a result, sending money across borders can be slow, taking several days, and expensive, sometimes costing up to ten times more than sending money within the same country.

The Revolutionary Solution by Qubetics:

Qubetics revolutionises international payments with its blockchain-based platform, making transactions faster, cheaper, and safer. Eliminating hassle cuts costs and reduces transfer times from days to minutes. Enhanced with blockchain’s inherent security features like encryption and decentralisation, Qubetics ensures each transaction is secure and fully transparent, allowing users to track their money in real-time easily.

This efficient and secure system addresses the main challenges of traditional cross-border payments. Despite slight regional improvements, global remittance costs remain a burden, reducing the funds that reach families and discouraging frequent transfers. Sometimes, when remittances are vital, these high costs create financial strain for both senders and recipients.

Qubetics’ Solution:

Qubetics offers a transformative solution to the financial burden of remittances with its blockchain-based platform, eliminating the need for costly intermediaries like banks and post offices. Through Qubetics’ technology, migrant workers can send money more frequently and affordably, ensuring a larger portion of their hard-earned income reaches their families in Egypt.

This shift to a more efficient, cost-effective digital transfer system has the potential to significantly improve the financial well-being of countless families who depend on international remittances for their livelihood.

Qubetics Presale: An Investment Opportunity:

With the presale of $TICS tokens scheduled for September 27th, Qubetics offers a unique investment opportunity. Early investors gain access at a preferential rate, with the potential for substantial returns as the platform gains traction and expands its reach. This presale isn’t merely a financial venture but a chance to be part of a revolutionary shift in financial technology.

Conclusion:

Qubetics stands at the forefront of financial innovation, aiming to redefine the mechanics of cross-border payments. As the demand for more efficient, cost-effective, and secure international payment solutions continues, Qubetics is uniquely positioned to lead this transformative era.

By investing in Qubetics $(TICS), stakeholders are not only contributing to the reshaping of global payment systems. Still, they are also positioning themselves to benefit from the tremendous growth anticipated in this sector.

By embracing the potential of blockchain technology, Qubetics aims to ensure that the future of cross-border payments is as frictionless and straightforward as domestic transactions, welcoming a new era of financial inclusivity and connectivity.

Don’t Miss Your Chance, Presale Launching Soon

Qubetics: https://www.qubetics.com/ 

Telegram: https://t.me/qubetics   

Twitter: https://twitter.com/qubetics 

The post Invest in the Future of Finance as Qubetics Drives the Growth of Cost-Effective Cross-Border Payment Solutions appeared first on Blockonomi.

Bangalore, India, September 26th, 2024, Chainwire

The Huddle01 decentralized Real-Time Communications Network is a multi-sided network with Media Nodes, suppliers of dRTC bandwidth for participants and consumers of audio/video meetings

On November 6, 2024, Huddle01, a leading decentralized real-time communications layer, will launch its media node sale. Huddle01 is setting new standards in decentralized communication, offering a robust and efficient solution to the challenges faced by traditional real-time communication (RTC) providers. Since 2023, Huddle01 has hosted 6 million minutes for more than 100,000 events. 

The first dRTC Network 

Huddle01 is the first Decentralized Physical Infrastructure Network (DePIN) for RTC or audio/video conferencing. Huddle01 coordinates unused internet bandwidth through node operators to enable seamless audio-video communication via its innovative decentralized, or dRTC network.

Unlike most DePINs, Huddle01 is built from the demand side, addressing the high operational costs and geographical latency issues faced by centralized RTC networks. Founded during Covid-19 as Indian schools moved online, Huddle01 replaced centralized communication systems, which route calls through distant servers — often halfway across the world — causing significant delays and poor performance for video conferencing.

By reducing the reliance on centralized data centers, Huddle01 also minimizes developers’ server costs for audio and video calls by up to 95% compared to AWS, ensuring cost-effective and high-performance communication. 

Huddle01’s app layer Huddle01 Meet integrates Web3-native tools, allowing users to connect wallets, use NFT profile pictures as avatars, and host token-gated meetings. Video recordings can be securely stored on the InterPlanetary File System (IPFS), emphasizing the platform’s commitment to decentralization and security. 

Led by CEO and Co-Founder Ayush Ranjan and Co-Founder and CTO Susmit Lavania, Huddle01 has an experienced team with 15+ years in RTC and 5+ years of token engineering. Key leadership positions at Huddle01 are held by alumni of BlockScience, ConsenSys, Polygon, Cardano, Persistence, CoinDCX, and Guardian Link.

Nodes lead to improved latency

Huddle01 Media Nodes – the atomic unit of Huddle01’s dRTC network – provide the necessary bandwidth to encode, decode and route audio/video packets for uninterrupted audio and video communication across the globe. 

“Google Meets and Zoom streams 300 million minutes per day. If Huddle01 captures just 1-5% of this market in the next 12 months, we would have triggered the highest web3 adoption ever.” CTO Susmit Lavania explained. 

While latency issues, or lags and glitches, in the developing world hinder innovation, in truth, they hinder productivity everywhere. Distance education, streaming, gaming and healthcare can all be improved by better internet services.

“These nodes will power a network that already outperforms the incumbent web2 competitors on latency where there is a large cluster of nodes, and is capable of improving lags across the globe,” says Ayush Ranjan, CEO of Huddle01. 

“We are excited to launch this node sale, because as we sell more nodes, the benefits for consumers and businesses will only grow. Node operators are incentivized to run a node, allowing them to create more value for themselves but more importantly, they can actually notice the improvement in latency in all their applications,” added Ranjan. 

Huddle01: Revolutionizing Real-Time Communication with DePIN 

Huddle01 Media Node Sale features

46,900 Huddle Media Nodes are available with pricing starting at $320

Huddle01 will be doing its Node Sales in 2 Phases

Phase 1 will consist of 20,000 nodes to be sold from the November 6th Whitelist and a Public Sale on November 8

Phase 1 sale participants are eligible for 2x rewards than Phase 2 participants 

Minimum requirement to run the node is a ~250 Mbps Internet connection, however buyers can also delegate to minimize operating expenses

The testnet will launch 2 weeks after the sale completes, with node operators earning up to 5 $HUDL per day during the testnet

21% of total TGE supply (200M $HUDL) will be offered as rewards for active nodes during the testnet phase, with immediate vesting and 5% unlocked at TGE

Key dates

Whitelist Opens – 9th October

Whitelist Sales – 6th November 

Public Sales – 8th November 

More details about the public node sale launching on 6th November can be found here, including how to whitelist: HERE.

-END-

About Huddle01 

Huddle01 is a decentralized real-time communication (dRTC) network for audio and video streaming – DePIN for RTC – that has clocked in 6 million+ minutes of meetings to date. The dRTC network eliminates the dependency on centralized servers for real-time communication across the globe. 

Huddle01 is democratizing connectivity over cyberspace by enabling people to access best in class bandwidth without relying on local physical infrastructure. The network has raised $6M to date and is backed by marquee angels like Balaji Srinivasa, Stani Kulechov and leading VC funds like Hivemind, Protocol Labs, Superscrypt, Consensys and others. 

Huddle01 makes it possible to build high-quality audio/video applications in minutes. Leveraging its suite of SDKs, multiple web3 applications have integrated the composable Huddle01 SDKs as their video communication layer. The infrastructure (developer SDKs) has been utilized by 100 projects including Lens Protocol, Solana, and CyberConnect. Soon Huddle01 will be onboarding 1.5M active users to their dRTC network with upcoming integrations.

To learn more visit, www.huddle01.com | Twitter | Website | Medium

Contact

Senior PR Manager
Patrick Kennedy
Serotonin
patrick@serotonin.co

The post Huddle01 to Launch Node Sale to Expand its Video Network, after hosting 6 million minutes of meetings appeared first on Blockonomi.

As expected, the US Fed rate cut has reignited the financial market, causing a good uptick in the stock and cryptocurrency markets. Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE) have been surging, drawing the attention of investors. However, experts say ETFSwap (ETFS), a $0.03846 altcoin, is set to surge higher than  Bitcoin (BTC) and other altcoins.

ETFSwap (ETFS) Set To Outperform Bitcoin (BTC) And Other Altcoins

According to experts, with the Fed rate cut, ETFSwap (ETFS) will lead the surge among altcoins as its presale is set to enjoy more investment. The ETFSwap (ETFS) is a DeFi platform that trades exchange-traded funds on the blockchain. With the ETF market enjoying a boost as more people are investing following the Fed rate cut, the ETFSwap (ETFS) platform is set to record an increase in the number of users who want to start trading ETFs on the platform. Already, over 100,000 people are waiting for the beta platform to launch. This number is set to increase in the coming weeks.

It’s not just the number of users that will increase in the coming weeks. The ETFSwap (ETFS) native token ETFS — in the presale phase — is set to see a huge boost. The token has raised about $4 million so far and is set to add to its tally as ETFSwap (ETFS) continues to gain momentum with many factors in the picture. One is the launch of the ETFSwap (ETFS) DeFi trading modern platform equipped with ultra-powerful AI ETF trading tools in a few days. The AI trading tools with a high capacity to collect and analyze data will help users by providing investment analysis and recommendations. These AI tools will allow users to make the most of the perpetual trading option with 50x long and short options as they can get accurate analysis and much more.

With the way the ETFSwap (ETFS) platform makes it possible to trade real-world ETFs and provides tools and options to get high gains, analysts say it will continue to record many users. And this type of market appeal is good for its native token. Market experts believe the ETFSwap (ETFS) native token, currently selling at $0.03846, is the real deal as the altcoin is tipped to launch over $5. Already in the last presale stage, the altcoin will soon be listed on major exchanges like Binance, OKX, Coinbase, etc. Its touted rise from $0.03846 to $5 represents a 15,000% increase, which can’t be matched by Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), or any other altcoin based on current predictions.

Crypto Market Revives Amid Fed Rate Cut

Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), and many other altcoins have been surging since the announcement of a 50-point rate cut by the US Federal Reserve. The goal of the Fed cut, which is to increase economic activities, is playing out well, as Bitcoin (BTC) went up by over 7%, Ethereum (ETH) by 5%, and Dogecoin (DOGE) by 7%. Many other altcoins have followed suit in the last 24 hours as the crypto market continues to pick pace.

With the rate cut set to be further relaxed in the coming days, the crypto market is set to rise more. However, analysts say premier coins like Bitcoin (BTC) and Ethereum (ETH) can not rise astronomically, and the same applies to meme coins like Dogecoin (DOGE). The exception in this case is the ETFSwap (ETFS) token, which has other factors apart from the rate cut to drive its growth. For the altcoin, other factors, such as the ETF market inflow, market appeal of the ETFSwap platform, and schedule listings on major exchanges, are set to drive its worth. While Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE) are set to rise to 20% at most, ETFSwap (ETFS) is set to rise to 15,000%.

Conclusion

The Fed rate cut has given Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE) a good pump. However, ETFSwap (ETFS) is set to benefit the most as it will add this to the list of factors set to drive its worth. With a potential 15,000% increase, buy ETFSwap (ETFS) at just $0.03846 to position for this huge gain.

For more information about the ETFS Presale:

 Visit ETFSwap Presale

Join The ETFSwap Community

The post Fed Rate Cuts Send Bitcoin (BTC), Ethereum (ETH), And Dogecoin (DOGE) Surging, But Expert Says This $0.03846 Altcoin Is The Real Deal appeared first on Blockonomi.

TLDR:

OpenAI is restructuring from a nonprofit to a for-profit benefit corporation

CTO Mira Murati and other executives have recently left the company

OpenAI is reportedly seeking $6.5 billion in new funding at a $150 billion valuation

CEO Sam Altman is expected to receive his first equity stake in the company

The restructuring aims to make OpenAI more attractive to investors

OpenAI, the company behind the popular AI chatbot ChatGPT, is undergoing significant changes in its corporate structure and leadership team.

The artificial intelligence research company, originally founded as a nonprofit in 2015, is reportedly planning to transition into a for-profit benefit corporation. This move comes as the company seeks to raise $6.5 billion in new funding at a valuation of $150 billion.

The restructuring process, which could extend into next year, is designed to make OpenAI more attractive to investors.

Under the proposed plan, the nonprofit arm of OpenAI will continue to exist but will hold a minority stake in the for-profit company. This shift represents a departure from OpenAI’s original mission as a nonprofit research lab dedicated to developing safe AI.

Coinciding with these structural changes, OpenAI has experienced a series of high-profile departures from its leadership team. Most notably, Chief Technology Officer Mira Murati announced her exit on Wednesday, September 25, 2024.

Murati, who had been with the company for six and a half years, played a crucial role in the development of ChatGPT and the AI image generator Dall-E. In her farewell note, Murati expressed gratitude for her time at OpenAI and stated that the timing felt right for her departure.

Following Murati’s announcement, two more senior technical staff members, Barret Zoph (VP of Research) and Bob McGrew (Chief Research Officer), also left the company. OpenAI CEO Sam Altman addressed these departures on social media, noting that while the decisions were made independently, the timing of Murati’s exit influenced the company’s decision to announce all three departures simultaneously.

These recent exits add to a growing list of departures from OpenAI’s leadership. Earlier this year, chief scientist and co-founder Ilya Sutskever left to start a new firm focused on safer AI development.

Another co-founder, John Schulman, departed in August to join rival company Anthropic. Additionally, president and co-founder Greg Brockman is currently on extended leave.

As part of the restructuring, CEO Sam Altman is expected to receive his first equity stake in the company. This move aligns with the shift towards a more traditional corporate structure and could potentially incentivize key leadership to remain with the company.

The changes at OpenAI come at a time of rapid growth and increasing competition in the AI industry. Since the public release of ChatGPT in 2022, OpenAI has seen its valuation skyrocket and has become a prominent player in the tech world.

The company recently unveiled GPT-4o, an AI model capable of human-like spoken conversations, and previewed OpenAI o1, which the company claims can reason through complex scientific and mathematical problems.

However, the restructuring and leadership changes have raised concerns among some in the AI safety community.

Critics worry that without nonprofit control, OpenAI may lack sufficient oversight in its pursuit of artificial general intelligence (AGI). The company recently disbanded its superalignment team, which focused on long-term AI risks, further fueling these concerns.

OpenAI has stated that it remains committed to its mission of building AI that benefits everyone. A company spokesperson emphasized that the nonprofit aspect of OpenAI will continue to exist and play a crucial role in the organization’s future.

The post Leadership Shake-Up at OpenAI as Company Restructures as For-Profit Entity, Seeks $6.5 Billion in Funding appeared first on Blockonomi.

TLDR:

China announced a massive stimulus package, including cuts to bank reserve requirements and mortgage rates

The stimulus aims to boost liquidity and support weak economic sectors

Cryptocurrency enthusiasts speculate this could benefit crypto prices

Bitcoin’s price has historically been correlated with global liquidity

The stimulus follows the US Federal Reserve’s recent rate cut

China’s central bank, the People’s Bank of China, has announced a significant stimulus package aimed at boosting the country’s economy.

This move comes shortly after the US Federal Reserve implemented its first rate cut in four years. The Chinese stimulus includes several measures designed to increase liquidity and support sectors that have been underperforming.

One of the key components of the stimulus is a reduction in the bank reserve requirements. This change allows banks to hold less money in reserve, freeing up more funds for lending and investment. The central bank has cut existing mortgage rates by 50 basis points, a move intended to support the housing sector.

The Chinese government has also taken steps to prop up the stock market. They have injected 800 billion yuan (approximately $113 billion) to support Chinese stocks and announced plans to create a stock market stabilization fund. These efforts have already shown some results, with the CSI 300 index, a key measure of Chinese stocks, rising 7% in the week following the announcement.

The timing of China’s stimulus package, coming so soon after the Federal Reserve’s rate cut, has created an unusual global economic environment. Typically, conditions of increased liquidity and lower interest rates are seen as favorable for risk assets, including stocks and cryptocurrencies.

Cryptocurrency enthusiasts and market analysts have been quick to speculate on the potential impact of these measures on digital asset prices. Su Zhu, founder of the now-defunct Three Arrows Capital, suggested that the “China stimulus cycle is kicking in,” implying that crypto prices could benefit from the increased liquidity.

China stimulus cycle begins

— 朱溯 (@zhusu) September 24, 2024

Economist Lyn Alden has noted that Bitcoin’s price has historically shown a strong correlation with global liquidity. This observation suggests that the Chinese stimulus could potentially support cryptocurrency valuations in the near future.

However, it’s important to note that the direct impact on cryptocurrency markets may be limited in China itself. Crypto trading has been banned in the country since 2021, which could mute the effect of increased liquidity on digital asset prices within China’s borders.

In Hong Kong, which has a degree of financial independence from mainland China, three spot Bitcoin ETFs were approved earlier this year. While these products saw some inflows following the stimulus announcement, the amounts were relatively modest, with one ETF receiving inflows of around 16 Bitcoin (valued at approximately $1 million) on the day after the announcement.

The Chinese stimulus package also includes measures aimed at boosting consumer spending and supporting the housing market, which have been areas of concern for the country’s economy.

The government hopes that by injecting liquidity and lowering borrowing costs, they can stimulate growth in these sectors.

While the stimulus package is significant, some analysts caution that it may not be enough to fully address China’s economic challenges.

Consumer confidence and demand have been soft, and it remains to be seen whether these measures will be sufficient to reverse those trends.

The post China Unveils Major Economic Stimulus Package: Potential Impact on Crypto Markets appeared first on Blockonomi.

The crypto community is getting set for a potential rally in October, otherwise known as Uptober, which is known for its bullish price movement. Analysts forecast the following altcoins – Solana (SOL), Ripple (XRP), and IntelMarkets are ready to soar this month.

While the price of Solana (SOL) and Ripple (XRP) could soar to $200 and $0.7343 in the coming weeks, that of IntelMarkets is predicted to pump high as well. Analysts say the price of IntelMarkets could skyrocket by 200% in the next few months.

Virtune Launch Solana (SOL) ETP Product

Virtune, a digital asset manager in Switzerland, has revealed the launch of the Virtune Staked Solana (SOL) Exchange Traded Product on Euronext Amsterdam. This ETP tracks the price of Solana (SOL) for its investors with extra staking income to the traded products.

The ETP has an annual management fee of 0.95% and represents the ongoing expansion of Virtune within the sphere of cryptocurrency investment. In other news, the Solana price has shown a remarkable recovery in the past week, soaring past the 50-SMA ($141.84) and 200-SMA ($146.39).

The Solana crypto tested the $120 support a few months ago. Presently, positive momentum has returned to the market and the value of the cryptocurrency is on a rally. If this upward price movement continues, analysts expect the Solana coin price to cross the $200 mark by October.

Ripple (XRP): Whales Moves 252M XRP Off Exchanges

Despite trading sideways in the past few weeks, Ripple (XRP) continues to enjoy a lot of attention from whales. Recent data from CryptoWuant shows over 252 million XRP were withdrawn from cryptocurrency exchanges on September 23rd.

This large withdrawal shows bullish sentiment among investors and a reduction in selling pressure. Analysts believe this removal of Ripple XRP from exchanges could lead to a bullish surge in the coming weeks.

Presently, the price of Ripple coin is consolidating above the 50-SMA ($0.567861) and 200-SMA ($0.550068) which is a bullish sign. They say the Ripple price USD could experience an upsurge in October, soaring to a peak of $0.7343. However, any bearish price movement would invalidate this prediction, and the DeFi coin could drop below the 50-SMA.

IntelMarkets (INTL) Price Prediction for October

IntelMarkets (INTL) is stirring buzz in the market and is one of the presales worth keeping an eye on. IntelMarkets secured over $520k in funding within the initial weeks of its startup and is now setting a goal of $1 million by the end of September.

In its essence, IntelMarkets is planning to introduce a sophisticated smart trading platform that will distinguish itself from the majority of existing platforms. Therefore, it has adopted AI technology and moved towards a dual-chain structure.

For instance, IntelMarkets will allow individuals to indefinitely maintain their positions when dealing with perpetual futures contracts. This is an achievable feat because these products are available for trading 24/7 and have a high leverage of over 1000x.

It will also benefit traders by giving them access to the advantages of two blockchains simultaneously since it will be linked to the Solana and Ethereum networks. IntelMarkets will grant traders access to fees that are low, rapid trades, and robust security. Currently in the second phase of its crypto ICO, analysts expect the price of IntelMarkets INTL coin to surge 200% in Uptober.

Top Crypto Coins To Buy in Uptober

Based on the current crypto market sentiment, the best coins to invest in right now are Solana (SOL), Ripple (XRP), and IntelMarkets. All three coins are currently among the top performers on the market and could give holders more gains in the coming month.

Discover More About IntelMarkets:

Presale: https://intelmarketspresale.com/

Telegram: https://t.me/IntelMarketsOfficial

Twitter: https://x.com/intel_markets

The post Top Crypto Coins To Invest in Uptober for Over 100% Gains – Solana (SOL), Ripple (XRP), IntelMarkets (INTL) appeared first on Blockonomi.