5th Annual Blockchain Futurist Conference

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Haider Jamal
July 30,2023

CryptoWeekly is proud to be an official media partner for the 5th Annual Blockchain Futurist Conference, scheduled to take place in Toronto, Canada, from August 15th-16th, 2023.

Use our promo code WEEKLY30 to get 30% off upon signing up at https://lnkd.in/giMPK-qG.

The conference is set to be the largest event of its kind and will serve as a platform for exploring the future possibilities and advancements in blockchain technology. It brings together experts in the fields of Web3, crypto, DeFi, GameFi, NFTs, DAOs, the metaverse, and more.

Put simply, the annual event offers an immersive crypto experience with features such as crypto-powered marketplaces, NFT galleries, crypto ATMs, and the integration of blockchain technology in the context of real world use cases.

With a consistent attendance of over 6,000 participants each year, the event provides an excellent opportunity to network with prominent founders, investors, and projects. Attendees can connect with industry leaders at the VIP Cabanas, participate in exciting networking events, and explore exhibitor booths located on multiple levels.

The event also aims to educate participants about the future trends and advancements in the field, encouraging them to become active contributors to the Web3 movement. Notable speakers at the event include Charles Hoskinson, Michele Romanow, Anthony Di Iorio, Ethan Buchman, Jaime Leverton, Tamara Haasen, Miko Matsumura, Silvina Moschini, Adam Cai, Sascha Darius Mojtahedi, Pamela Draper, Ben Armstrong, Trevor Koverko, and many more esteemed individuals.

Additional details will follow in the weeks building up to the event.







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July 22,2024

Elon Musk Adds Lazer Eyes Following Rumours Of His Attendance At Upcoming BTC Conference

Elon Musk recently made headlines by changing his profile photo on social media to depict laser eyes, a widely recognized symbol within the Bitcoin community. This update coincided with flight data indicating his private jet had touched down in Tennessee, where the Bitcoin Conference was scheduled to take place.

 

Tracking His Movements

The news was initially reported by Fox Business journalist Eleanor Terrett, renowned for her coverage of cryptocurrency, and later confirmed by an Instagram account dedicated to tracking Musk and his aviation movements.

Historically, Musk has been proactive in managing his online presence, including taking steps to restrict Twitter accounts that track his movements. However, similar accounts on Instagram have continued to operate without interruption.

 

History Repeats Itself

Musk has had countless past interactions with the crypto community on social media which have included displaying Bitcoin-themed imagery and mentioning Bitcoin in his Twitter bio, although these references have since been removed over time. These actions have drawn significant attention by both cryptocurrency enthusiasts and the broader public, reflecting the ongoing influence that Elon has in the digital currency sphere.

Musk and his tweets have often caused significant price movements for the entire crypto market in the past, making him a central figure in the cryptocurrency community. His involvement has also sparked debates about the influence of prominent figures on decentralized currencies and their future adoption.

 

July 22,2024

Biden Officially Quits Presidential Race As Trump Supporters Celebrate

The U.S. political scene recently underwent seismic changes as President Joe Biden announced that he will no longer be competing in the 2024 election, conceding to his long-time rival Donald Trump. This significant development introduced new volatility into cryptocurrencies associated with Trump, who is seen favorably by some in the crypto community.

 

Selling Activity Spikes

MAGA Coin, linked to the Make America Great Again movement which was introduced by Trump years ago, experienced an 8% decline over the past 24 hours. Trading volume for this Ethereum-based token surged by 140%, reflecting intense selling activity. Meanwhile, a meme coin named after the former President, based on Solana, surged by 53% in the same period, accompanied by a 265% increase in trading volume.

The negative market response may stem due to Biden exiting the race, but it is worth noting that crypto speculators have been betting against Biden for a while, with odds of his withdrawal soaring on platforms like Polymarket even before the formal announcement.

 

Trump Continues To Gain Momentum

Trump-themed cryptocurrencies have seen strong rallies this year, buoyed by his supportive stance on the U.S. cryptocurrency industry. His advocacy has resonated with crypto enthusiasts, whether through promises to make the U.S. a crypto-friendly destination, his portrayal as a crypto president, or his acceptance of crypto donations.

With odds favoring Trump and his electoral prospects standing at 65% on Polymarket, the cryptocurrency market remains bullish on his potential return to office. The 2024 United States Presidential Election will be held on Tuesday, November 5th, later this year. Voters will elect a President and Vice President for a term of four years.

 

July 22,2024

Web3 Fundraising Deals - July 16th to July 22nd, 2024

etherfuse raised $3.00M in Seed funding by North Island Ventures. Etherfuse is a blockchain infrastructure platform that launched Stablebond, a tokenized bond issuance product based on Solana.

 

 

Nirvana Labs decured $4.00M in Seed funding led by Castle Island Ventures. Nirvana Cloud is a Web3 optimized bare-metal cloud that is built to handle the most demanding web3 workloads.

 

 

ZKEX.com secured an undisclosed amount in Seed funding with support by Fenbushi Capital. ZKEX is a multi-chain order DEX that facilitates buying and selling crypto assets across multiple blockchains. It operates in a trust-minimized, non-custodial manner and leverages zero-knowledge proofs to ensure transaction security and reliability.

 

 

Truvius raised $3.20M in Pre-Seed funding with support by Galaxy. Truvius is a platform designed to support systematic and accessible investing in digital assets.

 

 

Zivoe secured an undisclosed amount of funding via Concave, showcasing strong investor interest. Zivoe is a real-world asset credit protocol aiming to disrupt predatory high-interest consumer lending by bringing yield from consumer loans on-chain.

 

 

Liquidium obtainerd $2.75M in Seed funding led by CMS Holdings, LLC. Liquidium is a platform for P2P Ordinals lending. It offers users the option to either lend or borrow Bitcoin, utilizing a special type of Bitcoin-based assets known as Ordinal Inscriptions as collateral.

 

 

Chainbase raised $15.00M in Series A funding with support by Tencent. Chainbase is a Web3 interaction layer infrastructure, providing APIs, node services, and data cloud solutions.

 

 

zkLink received strategic support by OKX Ventures, although the exact amount was undisclosed. zkLink is a trading-focused multi-chain L2 network with unified liquidity secured by ZK-Rollups.

 

 

Allium secured $16.50M in Series A funding through Theory VC. Allium provides a unified data platform for blockchain analytics teams to extract insights and monitor on-chain patterns in real time.

 

July 21,2024

Bitcoin Hovers Around $67K As Altcoins Rally

Bitcoin (BTC) has remained strong over the last 24 hours, achieving gains exceeding 5%. In a broader sense, the cryptocurrency market experienced a significant recovery yesterday after a sluggish start and notable declines.

Buyers intervened and propelled Bitcoin above $67K, with numerous altcoins also showing impressive returns. Remarkably, all of the top 100 cryptocurrencies by total market capitalization are in the green.

 

Bitcoin Reaches Above $67K

BTC hit a local daily high of $67,400 on Bitstamp but has since decreased to its current level of $66,600. Despite this, it remains a strong performance, and the bulls might be consolidating in preparation for a new rally toward the $70K mark.

When viewed on an hourly scale, the price appears to be on an upward trend, raising the question of whether it will reach $70K, the next significant level. Moreover, it is not just Bitcoin experiencing gains, as the entire market is showing strength. In fact, all large-cap altcoins have risen significantly. Notable performers include DOGE, which increased by approximately 7.3%, SOL by nearly 6%, AVAX by 5.4%, NEAR by over 6%, and various others. SEI and ORDI rose by 18.5% and 16.4%, respectively. Among meme coins, POPCAT and BONK performed best, increasing by 16% and 13.2%.

 

Other Markets

The 2024 Republican National Convention is a focal point amidst various economic developments. Investors are increasingly drawn to junk debt and industrial sectors under the influence of the Trump trade surge, while the tech sector faces pressure to deliver on earnings amidst a significant stock slump. Additionally, the US economy anticipates the release of Personal Consumption Expenditures Price Index figures amid easing inflation, which could reassure the Federal Reserve.

Meanwhile, Ghana teeters on the brink of a debt default, and Nigeria celebrates the opening of the $21 billion Dangote Mega Oil Refinery, aiming for a daily output of 550,000 barrels. Across the Pacific, Xi Jinping is still trying to reclaim wasteland for agricultural use which underscores his efforts to bolster food security and reduce reliance on imports, reflecting broader global economic dynamics.

 

July 20,2024

Crypto Companies Show Resilience As Microsoft Outage Affects Millions

A recent incident resulted in widespread global disruption as a cybersecurity software update by CrowdStrike encountered several unexpected bugs that caused issues across various industries including banks, airports, and media outlets.

The update led to widespread failures in Windows operating systems, resulting in the infamous blue screen of death. CrowdStrike has reassured that the outages were not due to a cyberattack and has implemented a fix to mitigate the issue. Despite the significant impact, the cryptocurrency sector appears to have remained unaffected.

 

Damage Control

CrowdStrike, a cloud-based cybersecurity platform aimed at preventing viruses and hacker attacks, faced system collapses for many users due to its latest update. However, leading companies in the crypto industry, such as Binance, Worldcoin, Tools for Humanity, and the Algorand Foundation, confirmed that their operations continued smoothly. Kraken also reported no disruptions because of the CrowdStrike service issue.

CrowdStrike is actively assisting affected customers due to a flaw found in a single update for Windows hosts, while Mac and Linux systems are unaffected. The incident is not attributed to a security breach or cyberattack. The problem has been identified, isolated, and a fix has been deployed.

 

Crypto Firms Remained Unaffected

The crypto industry demonstrated resilience during the disruption. For instance, the meme coin platform Pumpfun, operating on the Solana blockchain, highlighted its continued functionality while the London Stock Exchange faced issues. Bitcoin (BTC) and its decentralized structure was praised for contributing to its stability throughout the disruption.

While crypto platforms remained stable, it is important to note that the Solana blockchain has experienced past outages. Protos, the source of the report, is currently contacting various cryptocurrency entities to assess the impact of the CrowdStrike outage. Companies like Coinbase, Solana, and Bitfinex have yet to provide comments.

 

July 19,2024

Trillions Of SHIB Tokens Stolen As WazirX Gets Hacked

The Shiba Inu (SHIB) team has responded to the WazirX hack, where a substantial amount of SHIB tokens were stolen, urging holders to stay resilient and highlighting the necessity for enhanced security measures.

 

Dealing With The Loss

Shiba Inu is a popular cryptocurrency featuring a dog-themed motif, whereas WazirX is a prominent Indian crypto exchange. Trillions of SHIB tokens were reportedly taken, resulting in considerable financial losses. Lucie, the Marketing Head at Shiba Inu, extended sympathies to those affected by the hack, which resulted in millions of dollars being seized.

Cryptocurrency hacking has seen a rise in recent years, causing billions in losses and exposing vulnerabilities within the crypto ecosystem. WazirX is the latest victim of such attacks. Just hours ago, hackers exploited WazirX, according to reports by Lookonchain, a widely-used on-chain tracker on the X platform (formerly Twitter). The hackers absconded with over $230 million in various crypto assets, including Shiba Inu, Ethereum, MATIC, PEPE, USDT, and GALA.

 

Cause For Concern

The breach has caused alarm among cryptocurrency investors, particularly those holding SHIB tokens on WazirX. Lucie addressed affected SHIB holders, expressing her hopes for their recovery of funds and urging WazirXIndia to resolve the issue promptly. She acknowledged the significant amount stolen but underscored its proportion relative to total SHIB circulation. Lucie encouraged the community to remain united and supportive in the face of adversity, viewing it as an opportunity for growth.

Kaal Dhairya, a developer at Shiba Inu, echoed sympathy for impacted SHIB holders, voicing frustration over the attack and urging community solidarity. This incident underscores the critical need for crypto exchanges to bolster security measures to safeguard investor assets. Strengthening security protocols is imperative to uphold trust in the digital asset sector. As the industry evolves, robust cybersecurity practices remain essential for both exchanges and projects to protect investors.

 

July 19,2024

John Deaton Receives Donations By Winklevoss Twins For His Political Campaign

Tyler and Cameron Winklevoss, co-founders of the popular cryptocurrency exchange Gemini, have contributed $1 million in Bitcoin (BTC) to support John Deaton and his political campaign against Senator Elizabeth Warren (D-Mass.), known for her adversarial stance towards cryptocurrencies.

 

Huge Donations

Tyler Winklevoss announced a $500,000 donation to Deaton, endorsing him as a candidate who champions Bitcoin, cryptocurrency, and business interests, contrasting sharply with Senator Warren and her opposition to the industry. In a similar move, Cameron Winklevoss confirmed a matching $500,000 Bitcoin donation to Deaton, emphasizing his alignment with pro-Bitcoin, pro-crypto, and pro-business values.

This donation marks another instance where the Winklevoss twins have used their cryptocurrency wealth to support political causes. Previously, they donated $2 million in Bitcoin to former President Donald Trump and his 2024 election campaign, aiming to counter what they perceive as anti-crypto policies under the Biden administration.

 

A Key issue

The aforementioned donations come amid ongoing debates over cryptocurrency regulation, with Senator Warren advocating for stringent regulations to curb potential illicit activities associated with digital currencies. In contrast, Deaton has been critical of the SEC and its regulatory approach towards cryptocurrencies and has served as legal counsel in prominent crypto-related cases, such as representing XRP. Crypto has become a key political issue for many in the United States, particularly among the youth.

Overall, the support shown by the Winklevoss twins for Deaton underscores their commitment to defending the interests of the cryptocurrency industry in the face of regulatory challenges. Their Gemini crypto exchange is generally regarded as a reputable platform with a strong emphasis on security and regulatory compliance. It offers a user-friendly interface and supports a variety of cryptocurrencies for trading.

 

July 18,2024

Bitwise Discloses New Fee Details As Spot ETF Approval Draws Near

Recently, Bitwise, a contender in the race for an Ethereum Spot ETF, made a notable update by revising its S-1 form and setting a fee of 0.20%. This move came shortly after the United States Securities And Exchange Commission (SEC) approved Ethereum Spot ETF applications by ProShares and Grayscale.

 

No Green Light Yet

The aforementioned ETF applications marked a significant milestone as the overall tally of approved ETFs in this category reached 10. Despite these approvals, the ETFs still await the official green light by the SEC in order to commence trading activities.

Several Bloomberg ETF analysts reported receiving news of these approvals on July 23rd, indicating a big step forward in the ETF approval process. Meanwhile, some key players like BlackRock have not yet disclosed their fee structures. The SEC aims for uniformity in the approval process, suggesting that once all companies reveal their compensation policies, final approvals may be imminent.

 

High Fees

In addition to Bitwise, both Grayscale and BlackRock have updated their S-1 forms. BlackRock proposed a fee of 0.25%, whereas Grayscale set theirs notably higher at 2.5%. Experts have expressed reservations about fees put forth by Grayscale, noting similarities with the Bitcoin trust where high fees led to investor outflows. This could potentially impact the Grayscale Ethereum Spot ETF, should it be approved for trading.

In any case, ETF approval could be massive because it would provide institutional investors easier access to cryptocurrency markets, increasing liquidity, legitimizing the asset class, and potentially driving significant capital inflows into various cryptocurrencies.

 

July 18,2024

The Wait Is Over As Uniswap Launches Chrome Wallet Extension

Uniswap Labs has officially launched its wallet browser extension for Google Chrome after a wait exceeding six months, during which more than 793,000 users signed up on the waitlist. This new tool enables Uniswap wallet users to conduct on-chain activities, such as token swaps, across 11 different networks, including Ethereum, Polygon, and Arbitrum.

 

Bolstering Capabilities

The expansion broadens the numerous capabilities that Uniswap users already possess, which also encompass the leading decentralized exchange handling $2.4 billion in daily trading volume and $5.6 billion in total value locked.

Crypto wallets are crucial as they provide secure storage and management of digital assets like cryptocurrencies. They enable users to send, receive, and store funds independently of centralized institutions, promoting financial autonomy and enabling participation in decentralized finance and blockchain ecosystems.

 

Competition Heats Up

With nearly a million users now able to utilize this new storage solution, Uniswap Labs is solidifying its position in the competitive crypto storage and trading market. The release also coincides with a wave of new features by other wallet providers. Coinbase recently introduced a platform for managing wallets and on-chain portfolios, while Block, founded by Jack Dorsey, partnered with MoonPay for Bitcoin purchases.

Not one to be deterred, MetaMask has also integrated advanced security features and introduced direct Ethereum validator staking. These advancements underscore the intensifying competition among wallet providers to innovate and attract the next billion users in the Web3 arena, as blockchain technology and cryptocurrencies continue to captivate global interest.

 

July 17,2024

Meme Coin Investments Still Going Strong Thanks To Roaring Kitty

Cryptocurrencies associated with the renowned trader Roaring Kitty saw significant gains on Tuesday due to high short interest in GameStop Corp. The Solana-based meme coin inspired by the 2021 short squeeze surged 10% in the past day. Additionally, Kitty AI saw a 25% increase, accompanied by a 10% rise in trading volumes over the same period.

 

Reigniting Market Interest

Both of the aforementioned meme coins capitalize on speculation surrounding a potential short squeeze similar to the 2021 event, unrelated to any fundamental ties with GameStop or Roaring Kitty.

Keith Gill, also known as Roaring Kitty, has reinvigorated market interest through his social media presence since May. His updates on Reddit and live streams on YouTube have continued to drive volatility in GameStop and memecoins themed around Kitty.

As of the latest data by Benzinga Pro, GME was trading at $0.00661, marking a 10.84% increase over the past 24 hours. GameStop shares closed 5.85% higher at $28.58 during regular trading hours on Tuesday.

 

Pros And Cons

Meme coins in the crypto space offer both advantages and disadvantages. On the positive side, they often generate significant attention and trading volume due to their association with popular culture or figures, which can lead to quick and substantial gains for early investors. These coins can also serve as a gateway for newcomers to enter the cryptocurrency market, driving broader adoption and interest in digital assets.

However, meme coins are highly speculative and volatile, often lacking fundamental value or utility beyond their meme status. This volatility can lead to rapid price fluctuations and substantial losses for investors who are not prepared for the risks involved. Additionally, regulatory scrutiny and the potential for market manipulation are heightened in meme coin markets, posing additional risks for investors and the broader cryptocurrency ecosystem.

Lastly, Roaring Kitty himself, also known as Keith Gill, faced a class-action lawsuit over suspected securities fraud involving GameStop stock. According to the lawsuit, he affected the stock price via his influential social media presence. However, the plaintiff voluntarily dismissed the lawsuit.

 

July 16,2024

Larry Fink Calls Bitcoin Digital Gold During CNBC Interview

In a recent interview with CNBC, Larry Fink openly discussed Bitcoin (BTC) and confidently affirmed its long-term profitability, describing it as an investment with substantial potential. This development comes at a time where an increasing number of CEOs and politicians are becoming more open to the idea of bringing crypto into the mainstream.

 

Changing His Mind

Larry, previously known for his skepticism towards cryptocurrencies, has undergone a notable transformation in his views this year. As early as March, he began expressing strong optimism about the future of Bitcoin, especially buoyed by the successful launch of the BlackRock Bitcoin ETF (IBIT) earlier in January of this year.

During a conversation with Jim Cramer, Fink reiterated his belief that Bitcoin functions akin to digital gold, symbolizing his journey which began with him heavily scrutinizing cryptocurrencies to now endorsing the flagship crypto itself.

 

A Legitimate Financial Instrument

Reflecting on his earlier stance, Fink admitted that he used to be a proud skeptic, but after a deep study and understanding of Bitcoin, he came to realize his previous views were misguided. Similarly, former United States Donald Trump has also recently started supporting Bitcoin, which has since become one of his key policies for his potential re-election later this year.

Fink elaborated that Bitcoin represents a legitimate financial instrument with inherent value, offering an appealing investment opportunity for those seeking assets outside the traditional bounds of their local respective financial systems. His evolving perspective underscores a growing acceptance and recognition of the role Bitcoin and crypto have in the broader financial landscape.

 

 

July 15,2024

Phishing Victim Receives His Money Back After Being Scammed

A hacker has unexpectedly returned nearly $9.3 million to a victim, having previously stolen $24 million in a phishing incident last September. The return was first reported by Scam Sniffer on July 13th. The scammer utilized the DAI stablecoin in two transactions last week to refund the funds. The initial transfer of $5.23 million occurred on July 8th, followed by another $4.04 million sent on July 13th at 12:06 pm UTC, as per Etherscan data.

 

A Change Of Heart

The victim had fallen prey to a $24.2 million phishing scam on September 6th, 2023, losing 9,579 Lido Staked Ether (stETH) and 4,850 Rocket Pool (rETH) tokens. During the incident, the victim unwittingly authorized token approvals to the scammer through Increase Allowance transactions, according to Scam Sniffer.

Allowance, an ERC-20 token feature, grants a third party the ability to spend tokens belonging to the owner. Market observers, including CoinMarketCap, have flagged such vulnerabilities, warning about potential exploitation by anonymous developers using malicious smart contracts to deceive users.

 

Still No Explanation

Despite the recent return of $9.3 million, representing a 38.4% reimbursement based on September 6th prices, the staked-Ether tokens would now be valued at $47.5 million. The DAI used in the transactions passed through an address associated with Railgun Relay, an intermediary for a privacy protocol, before reaching the victim.

However, there remains no explanation for the sudden transfers, as the scammer did not include any on-chain message to the victim in either transaction. According to Etherscan data, the scammer now holds slightly over $3 million, primarily in METAGALAXY LAND (MEGALAND) tokens on the BNB Chain, constituting nearly 99% of the remaining funds.