The Worldcoin Foundation and its partner, Tools for Humanity (TFH), were fined a total of $860,000 by South Korea’s Personal Information Protection Commission (PIPC) on Thursday for violations related to the collection and transfer of biometric data.
According to the announcement published by the PIPC, the organizations were penalized for improperly collecting iris data without adequate consent and for failing to inform users about the transfer of their data abroad.
South Korea Fines Worldcoin Foundation and TFH
The investigation, initiated in February, found that the Worldcoin Foundation and TFH collected sensitive biometric information from nearly 30,000 individuals in South Korea without meeting the legal requirements for data processing.
The Commission highlighted that the information provided to users about the data collection and its purpose was insufficient and only available in English until March 2024, which further contributed to the lack of proper consent.
Both parties were also criticized for not having a robust deletion process for iris data and for failing to implement age verification procedures for users under 14.

In response to the violations, the Worldcoin Foundation and TFH have been instructed to obtain separate and explicit consent for the processing of sensitive data, to ensure data is not used beyond its original purpose, and to enhance their data deletion capabilities upon user request.
The commission emphasized the importance of compliance with data protection laws, especially as the use of biometric data becomes more prevalent.
World ID Verification Expands to Three More Countries
Worldcoin has recently expanded its World ID verification services to Guatemala, Malaysia, and Poland, targeting the demand for advanced methods to distinguish between human users and bots in cyberspace.
The organization stated that several surveys conducted in various regions have indicated the growing demand for human verification services, responding to new threats posted by AI-powered bots.
South Korea’s PIPC decision sends a clear message: compliance with data protection laws is non-negotiable.
For Worldcoin and TFH, correcting these missteps will be essential as they pursue global expansion.

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It has been a whole week since the U.S. Securities and Exchange Commission (SEC) approved Spot Bitcoin exchange-traded funds (ETFs) and unsurprisingly this has been a “sell-the-news” type of event.
Many cryptocurrency traders decided to use this event as the perfect opportunity to sell, according to South Korean data firm CryptoQuant.
The Spot Bitcoin ETF products started trading with record volumes for an ETF launch and additionally, Coinbase exchange saw record-high OTC desk transfer volumes. Most Bitcoin ETFs are trading at a premium to spot Bitcoin, reports CryptoQuant.
The data firm explains the approval of the Bitcoin ETFs would be a “sell-the-news” event, with price declining as much as 15% since January 11 from $48,70 to as low as $41,500.
During press time, Bitcoin was seeing support within the $41,000 and $43,000 range, although the possibility of a downtrend cannot be ruled out. Nonetheless, the crypto bellwether still maintains positive momentum, supported by several factors.
However, CryptoQuant notes that several on-chain metrics and indicators still suggest the price correction may not be over or at least that a new rally is still not on the cards. Short-term traders and large Bitcoin holders are still doing significant selling in a context of “risk-off” attitude.
US Spot Bitcoin ETFs See Massive Inflows 
The spot Bitcoin ETFs are seeing huge inflows having achieved a cumulative trading volume of nearly $10 billion within just three days, reports Ruholamin Haqshanas from Cryptonews.
According to Bloomberg analyst James Seyffart, the standout performer among the spot Bitcoin ETFs is Grayscale’s GBTC, which recorded an impressive three-day trading volume of $5.174 billion. BlackRock’s IBIT also saw substantial engagement, reaching $1.997 billion in trading volume, while FBTC recorded $1.479 billion during the same period. Together, these three ETFs accounted for an impressive $9.771 billion in trading volume, indicating strong investor interest in the cryptocurrency market.
ETFs are the Talk of the Town in Davos 
Once again the social elite are gathered in Davos for the World Economic Forum (WEF) – a global event bringing together the most influential players in politics and business to discuss the upcoming trends in business. Crypto attendees are showing signs of optimism this year all due to the SEC approving the ETFs.
“The recent ETF approval symbolizes a new era and the recognition of the potential of cryptocurrency and blockchain as a technology and as digital assets that can now be invested and supported more broadly by all types of investors,” said Sebastien Borget, COO and co-founder of The Sandbox, from Davos.
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The Ethereum network is prospering
The world’s second-biggest cryptocurrency by market capitalization, Ethereum (ETH), is holding the fort above $3,000 after crossing this psychologically important threshold yesterday afternoon, according to data by CoinGecko.
Due to its high-functionality contracts, Ethereum is crypto’s most commercially successful blockchain.
If we go by total value locked (TVL), according to DefiLlama, the amount of money strapped into the network is currently an eye-watering $48 billion, up 50% from 30 days ago.
Ethereum’s biggest rival, market leader Bitcoin (BTC), is down more than 2% in the last 7 days. It fell 1% in the last 24 hours.
Binance’s BNB is the only other one of the ten biggest cryptocurrencies by market cap posting a rally today. BNB is up 10% in the last seven days and currently trades for $387.37.
A couple of other top projects are down bad, including Avalanche (AVAX), Cardano (ADA) and Solana (SOL). All of them have fallen more than 8% short of their prices this time last week.
Ethereum’s resilience to the broader market-wide pullback could be attributed to anticipation over spot Ethereum ETFs coming soon.
In January, the US Securities and Exchange Commission (SEC) approved ten different spot Bitcoin ETFs to begin trading on exchanges.
ETFs are regulated investment products that buy, store, and track the price of their underlying asset.
The Bitcoin ETF narrative was the main driver of crypto prices before and after the round of SEC approvals on January 10 this year.
The SEC has given companies applying for a US spot Ethereum ETF a deadline of May 23 this year.
Several in the industry believe that this is the date when the agency will make a round of approvals, based on historic precedent.
Glancing at the chart, Ethereum has been on a clear upward trend since January.
It’s currently trading a little under its 30-day moving average, represented by the blue line, and it has a Relative Strength Index (RSI) of 45, which indicates sober market activity.
Since mid-February, things have been looking a little bullish for ETH. Frequent shallow cup-and-handle patterns indicate bursts of buying followed by short periods of market consolidation.

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Cryptonews Price Predictions  Solana Price Prediction as SOL Transaction Volume Reaches Record-High $1 Trillion – Adoption Rising?
Solana Price Prediction as SOL Transaction Volume Reaches Record-High $1 Trillion – Adoption Rising?

Joel Frank
Last updated: February 1, 2024 05:15 EST | 2 min read
    

The Solana (SOL) price is holding firmly above key short-term support levels and eyeing a retest of $100 amid optimism about a recent strengthening of network activity, as indicated by total SOL transfer volumes on the network nearly reaching a stunning $1 trillion in January.
Last around $98, the Solana price is up 6% from earlier session lows in the $92.50 region.
Crypto prices were pressured during late Wednesday and early Thursday trade by this week’s hawkish Fed policy announcement.
But optimism about strong network fundamentals and positive recent technical developments have seen the Solana price rebound strongly.
As per data presented by TheBlock, the number of active addresses on Solana has bene shooting up in recent days.
The 7DMA was last at 842,000, while the 7DMA of daily new addresses was last around 520,000.
That’s a new record high.
The 7DMA of daily value moved on-chain has also shot up to $44 billion, its highest since late 2022.
The explosion in on-chain activity comes amid Jupiter’s successful JUP token airdrop on the blockchain.
Jupiter is a Solana-based decentralized exchange liquidity aggregator and one of the blockchain’s most popular decentralized finance applications.
The airdrop event released 13.5% of the token’s total 10 billion supply and immediately created a new crypto unicorn.
JUP has a fully diluted market cap of nearly $6 billion.
Importantly, the Solana network held up perfectly under the strain of airdrop-related activity.
The recent surge in interest for the blockchain is a sign of its growing adoption.
That, combined with recent bullish technical developments, means Solana price predictions are likely to remain optimistic.
Solana Price Prediction – Where Next for Solana (SOL)?
Chart analysis suggests that the Solana price’s next stop is a retest of last year’s highs in the $126 area.
That’s because SOL recently broke a downtrend and bounced a retest of its 21 and 50DMAs in the $93-95 area.

Solana (SOL) Price Chart / Source: TradingView
That could mean fast and easy gains in the region of 30% for Solana from here.
But that could be just the beginning for the Solana price.
Indeed, SOL remains over 60% lower versus its 2021 record highs in the $260s.
But with adoption clearly fast on the rise and a broader crypto bull market in full swing, the Solana price could be on course to blast past its prior record levels.
It wouldn’t be out of the question for Solana to reach a market cap of $200 billion this bull market cycle.
That could mean 5x gains for the Solana price.
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Cryptonews Altcoin News  New Solana Meme Coin ‘WEN’ Airdropped to 1 Million Wallets – Here’s How to Check Eligibility
New Solana Meme Coin ‘WEN’ Airdropped to 1 Million Wallets – Here’s How to Check Eligibility

Ruholamin Haqshanas
Last updated: January 27, 2024 04:11 EST | 2 min read
    

Source: AdobeStock / Aleksandra Sova
WEN, a new Solana meme coin, has gained significant traction after being airdropped to over a million wallets.
The airdrop, which took place on Friday morning, was facilitated through the decentralized exchange (DEX) aggregator Jupiter, as part of a large-scale test of its new launchpad.
Jupiter will continue its airdrop spree next week with its own token, JUP, which is eagerly anticipated by nearly a million eligible wallets.
However, the WEN airdrop had an even wider reach, extending eligibility to over a million Solana wallets.
This included active Jupiter users from the past six months, holders of various popular NFT projects on the platform, and even owners of the Solana Saga smartphone.
Each wallet that met the eligibility criteria could claim an airdrop of 643,652 WEN tokens.
At the current price of $0.00009095, this translates to a value of over $58, according to CoinGecko. Since the airdrop, WEN has experienced a price increase of approximately 483%.
Different data sources reported temporary price spikes, with CoinMarketCap noting a peak at $2,915 and Birdeye recording a peak at $4,836.
However, both platforms currently show a significant drop in value from those peaks, with WEN now trading at a fraction of a penny.
While these price fluctuations may have caught some traders off guard, it is important to remember that token prices can be highly volatile, particularly during and immediately after an airdrop.
Meme coins, in particular, are known for their wild price swings.
Solana Meme Coins Continue to Make Waves
Despite the initial chaos, there is a history of Solana meme coins experiencing significant price surges, leading some WEN recipients to hold onto their tokens in the hope of a similar jump.
Specifically, some have speculated that the meme coin may follow in the footsteps of popular Solana tokens like BONK and Dogwifhat (WIF), which have seen their price skyrocket.
According to data from CoinMarketCap, BONK has gained more than 1,000% over the past year while WIF has surged by more than 110% over the past month alone.
Meanwhile, the Solana network managed to handle the immense demand during the airdrop, with approximately 118,000 wallets attempting to connect simultaneously, according to data from Solana Floor.
However, there were some technical issues reported during the early stages of the drop, particularly by the Phantom wallet, which experienced performance issues.
The Phantom team assured users that they would address these problems to ensure a smoother experience during next week’s JUP airdrop.
Solana continues to make waves in the crypto community as it achieves several significant milestones.
Earlier this month, the network surpassed Ethereum (ETH) in 7-day stablecoin trading volume for the first time ever.
As reported, the value of stablecoin transfers on Solana reached a staggering $103 billion last week, outperforming all other networks.
Ethereum secured the second position with $90.9 billion, followed by Tron with $82.3 billion and BNB Chain with $14.6 billion.
In addition to stablecoin trading volume, Solana also surpassed Ethereum in NFT trade volume for the month of December.

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Cryptonews Price Predictions  Bonk Price Prediction as BONK Jumps 5% in 24 Hours – Time to Buy?
Bonk Price Prediction as BONK Jumps 5% in 24 Hours – Time to Buy?

Tim Hakki
Last updated: 18:51 GMT+7 8 tháng 2, 2024 | 2 min read
    

The market’s third biggest Doge-inspired meme coin, BONK, has rallied 6% in the last 24 hours to trade at $0.00001055 at the time of writing.
That’s just over 1% higher than it was this time last week, but the token has shedded 20.5% of its price in the last thirty days due to bearish sentiment.
Today’s breakout spurt is buoyed in part by a market-wide rally that added 4.6% to market leader Bitcoin and 3% to its closest contender, Ethereum.
BONK is issued on the Solana blockchain.
The network’s native SOL token is also doing well, posting growth of 7.4%. Since late 2023, BONK’s rallies have often mirrored those of its parent network token.
BONK’s Relative Strength Index (RSI) is currently sitting at around 58, which indicates healthy buying. When that number increases to 70, as it did earlier today and several times throughout January, the token is considered overbought, and thus overvalued.
The coin is currently sitting above its 30-day moving average, as seen by the pale blue line. This indicates better than normal near-term performance.

Source: TradingView
Memecoin BONK: A Primer
BONK launched on Christmas Day, 2022, shortly after the collapse of FTX dealt a major blow to the public image of the closely affiliated Solana blockchain.
Its creators airdropped 50% of the token’s total supply to various developers, NFT holders, creators and artists.
It hit an all-time high in the middle of the following December, when it traded at $0.00003416. Today’s price reflects a 70% pullback from that.
With its current market cap of $641,624,033, BONK is the 109th biggest cryptocurrency by market capitalization. That’s some way off the capitalization of the original, number one, Doge-based memecoin, Dogecoin (DOGE), which corners $11.5 billion of the market and sits in eleventh place. Dogecoin also utilizes its own Proof-of-Work blockchain.
Shiba Inu (SHIB) over on Ethereum is also way ahead, capitalizing $5.5 billion of the market.
Still, today’s BONK rally outdoes both its competitors in the last 24 hours. DOGE added 2.2% and SHIB added 4%.
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