Lethbridge College teams up with Liquid Avatar Technologies to create a virtual campus in the metaverse

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Ray Speers
March 04,2022

Lethbridge College teams up with Liquid Avatar Technologies to 
create a virtual campus in the metaverse


A virtual Lethbridge College will be the first of its kind, allowing students to occupy property in 
the metaverse

March 3, 2022  Today, Lethbridge Colleges Centre for Technology, Environment and Design
(CTED) announced that it is partnering with Liquid Avatar Technologies Inc., a publicly traded 
global blockchain and fintech solutions company, to launch a first of its kind work-integrated 
learning opportunity for students. Liquid Avatar Technologies is providing 9,000 plots of land 
within its Aftermath Islands Metaverse a network of spaces where users can create a virtual 
world parallel to their physical one. Students will begin engaging in the new program and 
mentorship opportunities by the end of the winter 2022 semester.


Collectively named Lethbridge College Island, on Aftermath Islands, Lethbridge students will 
learn how to work, play, learn, game, entertain and earn in the metaverse. In addition to the 
virtual land, up to 100,000 in-game currency credits are being made available to the college. 
Those credits can be used to build, buy and trade assets like additional property, objects, 
landscape items and even avatars.


Students in Interior Design Technology, Virtual and Augmented Reality and Architectural 
Animation Technology programs will build on the virtual island creating structures and 
businesses and completing transactions. Each student will receive a plot of virtual land. The plot 
and all the assets they create for it will remain their property for as long as they choose. The 
college will also have a significant parcel of virtual land to provide students with virtual events, 
learning and other services.


Im so excited for this partnership with Liquid Avatar Technologies, says Cherie Bowker, chair 
of Lethbridge Colleges School of Spatial Design Technologies. Our students will learn so much 
about entrepreneurship and building in the metaverse and will gain a much greater 
understanding of digital space and digital identity while these worlds evolve and grow. We are 
proud of how we lead in this space, and we are thrilled to work with the skillful, talented and 
creative Liquid Avatar team.


David Lucatch, President, CEO and Chair of Liquid Avatar Technologies, has spent the past 25 
years developing technologies and taking them to market. Part of his recent resume includes 
co-founding Aftermath Islands Metaverse a planned virtual environment that provides online 
users with theme-based first-person Augmented Reality (AR) and Virtual Reality (VR) 
experiences, quests, games and integrated e-commerce activities. David, and the team at 
Liquid Avatar Technologies will also be mentoring Lethbridge College students to further 
process their education in the metaverse.


Providing the next generation of creative and technical thinkers with the tools to engage in 
new technologies that are primed to change consumer behaviour is an exciting opportunity for 
Liquid Avatar Technologies and Aftermath Islands, said David Lucatch, President, CEO & Chair, 
Liquid Avatar Technologies and Managing Director of Aftermath Islands Metaverse Limited. We 
envision this collaboration with Lethbridge College as a sandbox for learning and acquiring 
significant tangible experience, providing Canadian students with an advantage when entering 
the evolving job market.


CTED students will have hands-on opportunities to build out Lethbridge College Island by 
working closely with experts in the field, as well as faculty, who will mentor them in the 
development of the property. 


Our students are sure to gain a better sense of working outside their comfort zones as they 
tackle real-world problems and develop core competencies such as collaboration and leadership, 
while at the same time increasing their employability, says Candace Lewko, Associate Dean of 
the Centre for Technology, Environment and Design. We are confident our students will be 
making an impact and will be equipped with all the skills necessary to join the workforce.

About Lethbridge College 

Established in 1957 as Canadas first publicly funded community college, Lethbridge College is a 
board-governed institution serving the training and applied research needs of southern Alberta. 
As we approach our 65th anniversary, we look to the horizon and recognize the need to address 
our growing populations of learners, and to facilitate innovation and new opportunities. We will 
continue to build on our successes and stay in tune with the changing world of technology and 
sustainability. 


About Aftermath Islands Metaverse Limited - www.aftermathislands.com

Aftermath Islands Metaverse Limited is a Barbados corporation which is 50% owned and is 
controlled by Oasis Digital Studios Limited, a wholly owned subsidiary of Liquid Avatar 
Technologies Inc.


Aftermath Islands as first described in the initial whitepaper published in 2017 and then 
subsequently updated, was based on the premise of a water-world with islands that 
represented destinations in a global virtual game. Since then, the Aftermath Islands metaverse 
has evolved and now represents exciting themed based islands, communities, and estates 
where players can experience a wide range of adventures and opportunities.


In Aftermath Islands virtual world, users can buy, develop, trade, and sell Virtual Land (VL), 
property and assets, like buildings, crafted items, transport, and other items all through NFTs, a 
non-fungible token that represents the ownership of virtual and other assets. Each plot or 
parcel of VL is unique and owners get to choose what content they want to publish on their VL. 
This can range from simple scenery and structures to an interactive game, store, warehouse, 
dwelling, facility, or destination. Users can purchase VL as well as all other goods and services 
in Aftermath Islands with CREDITS, the current code name for in-game currency, fiat and other 
authorized currencies, coins, and tokens.


Aftermath Islands is a shared virtual world, much like the Metaverse described by author Ernest 
Cline in his science-fiction novels Ready Player One and Ready Player Two. Expected to launch 
mid-2022, Aftermath Islands will allow users to connect and interact with each other, create 
content, craft, participate in activities and quests and play games. Aftermath Islands will have a 
virtual economy where users can engage in a myriad of in-world economic transactions as well 
as monetize the content, items, quests, and applications they build.


For more information about Aftermath Islands, please visit www.aftermathislands.com

About Liquid Avatar Technologies Inc. - www.liquidavatartechnologies.com

Liquid Avatar Technologies Inc. focuses on the verification, management and monetization of 
Self Sovereign Identity, empowering users to control and benefit from the use of their online 
identity.

The Liquid Avatar Mobile App, available in the Apple App Store and Google Play is a verified Self 
Sovereign Identity platform that empowers users to create high quality digital icons 
representing their online personas. These icons allow users to manage and control their digital 
identity and Verifiable Access and Identity Credentials, and to use Liquid Avatars to share public 
and permission based private data when they want and with whom they want.

The Liquid Avatar Verifiable Credentials Ecosystem (LAVCE) has been developed to support all 
participants in a digital credential ecosystem, including the Holder, Issuer and Verifier, using 
state-of-the-art blockchain and open standards technologies initially as a node on the Indicio 
Network. The Company is a voting and steering committee member of the Trust over IP 
Foundation, founding and steering committee member of Cardea, a Linux Foundation Public 
Health project, member of the Good Health Pass collaborative, DIACC, the Covid Credentials 
Initiative ("CCI"), The Linux Foundation and a founding member of the Lumedic Exchange.
The Company has a suite of early-stage revenue generating programs that support the Liquid 
Avatar Mobile App program, including KABN KASH, a cash back and reward program that has 
over 500 leading online merchants and is working to release its own branded network payment 
card.


The Companys subsidiary, Oasis Digital Studios, is a creative and development agency that 
supports a wide range of artists, talent, and enterprises with Non-Fungible Token (NFT) 
solutions and has acquired 50% and control of the Aftermath Islands Metaverse program.
Liquid Avatar Technologies Inc. is publicly listed on the Canadian Securities Exchange (CSE) 
under the symbol "LQID" (CSE:LQID).

The Company also trades in the United States, on the OTCQB under the symbol "LQAVF" and in 
Frankfurt under the symbol "4T51".

If you have not already joined our mailing list and would like to receive updates on Liquid 
Avatar Technologies Inc., please click here to join!

For more information, please visit www.liquidavatartechnologies.com

For further information, please contact: 
David Lucatch
Chief Executive Officer
647-725-7742 Ext. 701
[email protected]

Media Contact:
Amber Mulder
No Fixed Address
[email protected]

Tina Karst
Media Relations Specialist, Lethbridge College
[email protected]


The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

All websites referred to are expressly not incorporated by reference into this press release.

Forward-Looking Information and Statements

This press release contains certain forward-looking information within the meaning of applicable 
Canadian securities legislation and may also contain statements that may constitute forward-looking 
statements within the meaning of the safe harbor provisions of the United States Private Securities 
Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not 
representative of historical facts or information or current condition, but instead represent only the 
Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are 
inherently uncertain and outside of the Companys control. Generally, such forward-looking information or 
forward-looking statements can be identified by the use of forward-looking terminology such as plans, 
expects or does not expect, is expected, budget, scheduled, estimates, forecasts, intends, 
anticipates or does not anticipate, or believes, or variations of such words and phrases or may contain 
statements that certain actions, events or results may, could, would, might or will be taken, will 
continue, will occur or will be achieved. 

The forward-looking information and forward-looking statements contained herein include, but is not 
limited to, statements regarding the future launch of in-game activities, sales of digital and physical 
collectibles, Non-Fungible Tokens and other related products through Oasis Digital Studios and / or its 
clients, partners and other service providers, statements regarding the future capabilities of LAVCE or the 
operation of an Indicio Network Node, expected geographic expansion, the ability of the Company to 
generate revenues, roll out new programs and to successfully achieve business objectives, and expectations 
for other economic, business, and/or competitive factors.


By identifying such information and statements in this manner, the Company is alerting the reader that 
such information and statements are subject to known and unknown risks, uncertainties and other factors 
that may cause the actual results, level of activity, performance, or achievements of the Company to be 
materially different from those expressed or implied by such information and statements. 

Although the Company believes that the assumptions and factors used in preparing, and the expectations 
contained in, the forward-looking information and statements are reasonable, undue reliance should not 
be placed on such information and statements, and no assurance or guarantee can be given that such 
forward-looking information and statements will prove to be accurate, as actual results and future events 
could differ materially from those anticipated in such information and statements. The forward-looking 
information and forward-looking statements contained in this press release are made as of the date of this 
press release, and the Company does not undertake to update any forward-looking information and/or 
forward-looking statements that are contained or referenced herein, except in accordance with applicable 
securities laws







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April 24,2024

HBAR Skyrockets After BlackRock Successfully Tokenizes MMF On Hedera

Archax, Ownera, and The HBAR Foundation recently facilitated the initial tokenization of the BlackRock Money Market Fund (MMF) on the Hedera blockchain, marking a significant milestone in the real-world assets (RWAs) domain.

 

The Importance Of MMFs

In a historic moment for the RWAs industry, Archax, a digital asset exchange based in London, successfully digitized the BlackRock ICS US Treasury MMF on the Hedera (HBAR) blockchain. Collaborating with the HBAR Foundation and the institutional-grade digital assets platform Ownera, Archax brought the MMF onto the Hedera network.

MMFs play a pivotal role in boosting the RWAs sector, offering attractive investment options characterized by institutional stability and yield. Tokenized MMFs allow for share trading on exchanges like Archax, offering additional benefits such as instant transfer and collateral deployment, beyond traditional subscriptions and redemptions.

 

HBAR Surges

Shayne Higdon, CEO of The HBAR Foundation, expressed confidence in Hedera and its innovative as well as reliable infrastructure, emphasizing its unmatched speed, security, and cost-effectiveness for institutional-grade tokenization, enabled by Archax.

Following the announcement, the price of HBAR surged to a four-week high, increasing by over 46% to reach $0.1314 on Tuesday. Preceding the news, the token traded around $0.087 and has now reached its highest level since March 27th. CoinGecko data indicates a more than 600% spike in the 24-hour trading volume of HBAR, surpassing $346 million.

April 24,2024

Jack Dorsey Will Tap Into Africa For New Bitcoin Mining Initiative

Jack Dorsey unveiled that Block (formerly Square) is broadening its Bitcoin (BTC) mining endeavors, as the company will no longer simply design chips as they will also be developing an entire BTC mining system going forward. The new mining system will reportedly tap into solar, hydro, and geothermal energy to run Bitcoin mines across Africa.

 

Improving Accessibility

The global tech company recently announced the completion of its proprietary three-nanometer Bitcoin mining chip and its ongoing collaboration with a leading global semiconductor foundry for the design of said chip. Additionally, Block revealed intentions to expand the scope of its mining project to encompass system design, aiming to address challenges identified through discussions with various bitcoin miners. Their objective is to foster mining decentralization by offering both standalone mining chips and complete mining systems.

The overall mission statement emphasizes democratizing access to Bitcoin mining, making the process of creating new BTC more accessible to a wider audience. Dorsey initially expressed this sentiment when Block ventured into mining hardware in 2021, highlighting the complexity and lack of incentive for individuals to engage in mining.

 

Addressing Key Concerns

Concerns within the crypto community regarding hardware vulnerabilities and the concentration of ASIC chip manufacturing in China have also influenced this new initiative. By decentralizing the supply of mining hardware and the distribution of hashrate, Block aims to enhance industry competition and mitigate network stability risks.

To address barriers to entry such as cost and availability of mining rigs, Block aims to improve reliability and user experience by focusing on issues like heat dissipation and noise reduction. The recent announcement coincides with the most recent Bitcoin halving, a significant event that occurs approximately every four years, reducing the issuance of new BTC.

Dorsey views the accessibility of the mining process as essential for a fully decentralized and permissionless future, emphasizing the importance of decentralization for network resilience. Block has also previously supported Gridless, a company operating Bitcoin mines powered by renewable energy sources in Africa.

 

April 23,2024

12 Solana Meme Coin Projects Listed As Scams By ZachXBT

Scammers tend to exploit the frenzy around meme coins by capitalizing on increased risk tolerance driven by FOMO. ZachXBT acknowledged this and recently claimed that 12 Solana presale meme coin projects have been completely abandoned in the last month, collectively raising $26.7 million via investors.

 

Meme Coins Continue To Nosedive

In a post on X dated April 21st, ZachXBT singled out the aforementioned projects and cautioned investors against engaging with any future projects by the listed founders. These projects faced a downturn shortly after launch, with some failing to release an actual token.

The LIKE project, led by pseudonymous founder pokeee.eth, raised 52,220 Solana (SOL), equivalent to $7.7 million. However, its value plummeted by over 90% within the first eight hours of trading, now suffering a 99.2% decline compared to its launch price.

Elsewhere, the meme coin MOONKE, initiated by another anonymous figure, RockyXBT, faced a similar fate, witnessing a drop of over 99% in value shortly after its $500 million initial valuation. Finally, another project by founder Jared_eth, raising 4,567 SOL worth approximately $812,000, failed to launch a token.

 

Scammers On The Rise

A study by cybersecurity firm Blockaid found that 50% of presale tokens on the Solana blockchain between November 2023 and February 2024 were malicious, attributing the rise in scammer activity to increased presale token adoption during February and March, driven by the massive popularity of meme coins as well as FOMO in general.

Individuals like Jared_eth and Bluekirbyftm, mentioned by ZachXBT, were identified as scammers. In March, a notable incident involved a Solana presale token when the developer of meme coin Slerf claimed to have mistakenly burned the entire presale allocation due to a fat finger burn error. Market enthusiasm for meme coins has declined in recent weeks, with several Solana-based tokens experiencing slides of over 40%, such as WIF.

 

 

April 23,2024

Drama At The SEC As Two Lawyers Accused Of Cheating In Crypto Case

Two attorneys with the U.S. Securities and Exchange Commission (SEC), Michael Welsh and Joseph Watkins, stepped down following reprimands and criticism by a federal judge for their gross abuse of authority in a notable cryptocurrency case.

 

SEC In Hot Water

Welsh and Watkins co-founded Digital Licensing Inc., creators of DEBT Box, a cryptocurrency platform. Welsh was the lead attorney in a case against him. Both resigned after an SEC official warned them of termination if they stayed.

The lawsuit against DEBT Box was marred by inaccuracies, false claims, and insufficient evidence. Federal District Court Judge Robert Shelby, overseeing the case, criticized the agency for misconduct in March. The head of SEC enforcement has since apologized for these errors. In July, the SEC accused DEBT Box and its executives of defrauding investors of at least $49 million. 

 

More Than Meets The Eye

The asset freeze was lifted after Shelby found possible materially false and misleading statements by the SEC. He penalized the agency for gross abuse of authority and ordered payment of some of the legal fees.

Shelby criticized the arguments made by Welsh and the evidence presented by Watkins and his team. Watkins was the lead investigator on the case. For instance, Welsh claimed DEBT Box had closed its bank accounts and moved assets overseas, which the court found to be untrue.

An SEC investigator attributed the error to miscommunication, and Welsh apologized to the court. In December, SEC enforcement chief Gurbir Grewal apologized to the court for the conduct of his department. He appointed new lawyers to the case and mandated training for the enforcement staff.

 

 

April 22,2024

Crypto Community Highly Concerned About Section 702 Renewal

The US Senate has given the green light to extend Section 702 of the Foreign Intelligence Surveillance Act (FISA), prompting discussions among privacy advocates and the cryptocurrency community. This provision empowers the government to gather data via major tech giants like Google and Meta without needing warrants.

 

Privacy Under Threat

The measure passed with a 60-34 vote and now awaits endorsement by President Joe Biden to prolong surveillance authority for another two years. Unsurprisingly, this move has unsettled the crypto community, which values privacy and decentralization, due to the broad scope of these surveillance capabilities.

Outside of the crypto sphere, several detractors, including Senator Ron Wyden, fear Section 702 could be abused to gather superfluous data on US citizens and violate their right to freedom and privacy. Conversely, some legislators, such as Senator Elizabeth Warren, argue that monitoring the crypto industry is crucial for regulatory oversight.

 

A Turning Point

With the renewal of Section 702, crypto enterprises could very well encounter increased regulatory scrutiny by entities like the SEC, CFTC, and DOJ, ensuring compliance with surveillance and data collection standards.

Despite the risk of misuse, there are instances of collaboration between crypto firms and law enforcement to combat illicit activities. For instance, the CEO of Tether has cooperated with the FBI and the Secret Service in counter-terrorism financing efforts.

As debates around Section 702 persist, the crypto sector finds itself at a pivotal moment. The extension of the law could challenge the core tenets of privacy and decentralization fundamental to cryptocurrency, prompting concerns about government intervention in innovative technologies.

 

April 22,2024

Adidas Remains Committed To NFTs Despite Lack Of Institutional Interest

Adidas has decided to persist in its dedication to the metaverse, debuting various NFTs (non-fungible tokens) as other companies retreat. While interest in NFTs and the metaverse has waned, numerous companies are scaling back their involvement, with prominent departures such as the termination of the Starbucks Odyssey Web3 initiative.

 

Adidas Going All In

Adidas bucks this trend by staying engaged in the metaverse through its recent collaboration with the move-to-earn application STEPN. So far, they have introduced 1,000 NFTs representing Adidas sneakers on the Solana blockchain. These digital assets, essential for engaging in reward-earning activities via STEPN, debuted at 10,000 GMT each, equivalent to approximately $2,400 at current exchange rates.

Evgeniy Medvedev spearheads the Web3 initiatives for Adidas, leveraging his prior experience which he earned during his time at Rarible. Additionally, the brand was featured in Crypto The Game, a Web3 survival game show offering Adidas tracksuits as prizes in a special challenge. Lastly, the contentious conclusion to Crypto The Game saw one participant walk away with a whopping 80 Ether.

 

Interest In NFTs Still Persists

Several sports companies have delved into the realm of NFTs, embracing the digital trend. Among them, Adidas stands out with its release of NFTs representing sneakers on the Solana blockchain, alongside its partnership with tSTEPN. Additionally, other notable players like Nike, UFC, and the NBA have all explored the potential of NFTs, leveraging them for fan engagement, collectibles, and digital memorabilia.

Outside the realm of sports, TRON Founder Justin Sun made headlines with a new music release, collaborating with renowned composer Hans Zimmer. This development occurs amidst legal scrutiny by the SEC, which is pursuing Sun for alleged securities violations. The collaboration, described as a groundbreaking fusion of blockchain and musical creativity, stemmed via an in-depth conversation between Zimmer and Sun early last year.

Elsewhere, PayPal is instituting changes, as it will no longer cover NFTs under its Purchase Protection Program starting May 20th. Moreover, the NFT marketplace Magic Eden is preparing for a new partnership with the blockchain Base on April 25th.

 

April 22,2024

Web3 Fundraising Deals - April 16th To April 22nd, 2024

Scallop received a strategic investment by DWF Labs on April 22nd. Scallop is the pioneering next generation P2P money market for the Sui ecosystem and is also the first DeFi protocol to receive an official grant by the Sui Foundation.

 

 

MetaBlox Labs secured an undisclosed investment by SamsungNext on April 22nd. MetaBlox is delivering enterprise-grade WiFi roaming to the public worldwide, ensuring uninterrupted, low-cost access to Web3 and the metaverse compared to cellular services.

 

 

Only1 attracted a $1,300,000 strategic investment by Newman Capital on April 21st. Only1 is the first NFT-powered social platform built on the Solana blockchain.

 

 

SatScreener secured a $500,000 pre-seed investment by Sora Ventures on April 20th. By offering extensive analytics on various facets of Bitcoin, SatScreener provides valuable insights for investors navigating the crypto market.

 

 

Superlogic received a substantial $7,600,000 strategic investment by Nima Capital LLC on April 18th. Superlogic is tailored for enterprise clients on a SaaS basis, and it seamlessly integrates with existing CRM, CDP, and traditional loyalty management systems.

 

 

Lambda Finance obtained an angel investment of $1,800,000 by AladdinDAO on April 18th. Lambda is a Bitcoin-oriented USD stablecoin protocol that empowers BTC holders to tap into DeFi-based wealth building opportunities.

 

 

Plena - Crypto Super App received an undisclosed investment of $5,000,000 on April 17th. Plena is a cutting-edge crypto super app that combines the security of self-custodial wallets with the convenience of a centralized application. It allows users to invest in over 100,000 cryptocurrencies, facilitating transactions, asset swaps, and bridging with just a single tap.

 

 

Zeko secured a $3,000,000 pre-seed investment by Signum Capital on April 17th. Zeko is a Layer 2 ZK Rollup ecosystem tailored for zero-knowledge applications (zkApps), settled by Mina Protocol.

 

 

Usual attracted a significant $7,000,000 strategic investment by IOSG on April 17th. Usual aims to tackle prevalent stablecoin market challenges by redistributing profits to the community, providing token holders with real yields generated by the RWAs.

 

 

Ord.io received a $2,000,000 pre-seed investment by Sora Ventures on April 17th. Ord allows users to participate in the selection and voting process for inscriptions, contributing to the creation of a dynamic and community-driven marketplace experience.

 

 

Aark Digital secured a $6,000,000 seed investment by HashKey Capital on April 17th. Aark Digital allows any whitelisted asset to be used as collateral for perpetual contract transactions.

 

 

Nebra received a $4,500,000 seed investment by Nascent on April 17th. Nebra is pioneering the development of the first proof aggregation service on Ethereum.

 

April 21,2024

Bitcoin Stabilizes Post-Halving As Geopolitical Tensions Intensify

Bitcoin (BTC) experienced significant fluctuations in the days leading up to the highly-anticipated fourth halving but has since stabilized. Meanwhile, Tether announced the launch of its two largest stablecoins on the Ton network, impacting the price of TON with an initial surge followed by a significant decline, currently down by around 12%.

Conversely, ICP surged by 13%, trading above $14, while ADA rose by 7%, nearing $0.5. Other larger-cap alternative cryptocurrencies are also experiencing gains, albeit more modestly. The total cryptocurrency market cap remains stable at around $2.450 trillion on CoinGecko.

 

Stability Post-Halving

Bitcoin encountered downward price movements starting last Friday, dropping to $65,000. While it saw a partial recovery the following day, it then dipped further to $61,000 amidst escalating tensions between Israel and Iran. The flagship crypto continued to lose value throughout the business week, with the recent attack on Iran leading to another price decline, pushing BTC below $60,000. However, it swiftly rebounded, reaching $65,000 as Iran indicated a lack of immediate retaliation. The past 24 hours have been less eventful despite the anticipation surrounding the fourth halving.

The completion of the halving event occurred recently, reducing block rewards to 3.125 BTC. Thus far, the price of Bitcoin has maintained relative stability, hovering around $64,000, with a market capitalization exceeding $1.250 trillion and dominance over alternative cryptocurrencies at 51.5% on CoinGecko.

 

Other Markets

As a result of the ongoing international conflict, The S&P 500 index stands at 4,967.23, showing a decrease of 0.88%, while the Nasdaq index records 15,282.01, marking a decrease of 2.05%. Crude oil prices are at 83.24, reflecting an increase of 0.62%, and the Euro is trading at 1.07, up by 0.12%. Meanwhile, the Dow Jones index is at 37,986.40, indicating a rise of 0.56%, and the Russell 2000 index is at 1,947.66, up by 0.24%. Gold prices are at 2,406.70, showing an increase of 0.36%, and silver is at 28.69, up by 1.57%. 

Elsewhere, Shanghai reports robust economic growth primarily driven by its industrial sector. Additionally, various Chinese companies are facing increasing scrutiny amid trade investigations. The Federal Reserve is also expected to maintain patience on interest rate cuts, supported by the upcoming release of its preferred inflation gauge. Earnings reports by major companies coincide with a crucial juncture in the stock market, with some valuations beginning to falter amidst concerns in debt markets.

Finally, Tesla announced massive workforce reductions and price cuts in response to slowing sales and growing inventories. The United States also passed new sanctions on Iran as part of a foreign aid package, and Petrobras settled a dispute by endorsing a 50% dividend payout.

 

 

April 20,2024

The 2024 Bitcoin Halving Has Successfully Been Completed

Bitcoin (BTC) has successfully undergone its fourth-ever halving event after reaching its 840,000th block, marking the point where mining rewards are halved once more. The significant event witnessed a decrease in Bitcoin miner rewards, dropping to 3.125 BTC per mined block compared to the previous 6.25 BTC.

Billionaire investor Tim Draper believes that the halving will help drive the price of Bitcoin to $250,000 or more, a prediction he has consistently made, particularly in 2022. Elsewhere, Bitcoin enthusiast Herbert Sim stated that there are other factors currently affecting price speculation, and that the halving is not the sole factor to consider.

 

Mining Rewards Decreased Once More

Starting today, Bitcoin miners will receive 3.125 BTC per mined block, as previously mentioned. This is a programmed process within the Bitcoin protocol occurring every 210,000 blocks mined, roughly every four years. The previous three halvings took place in 2012, 2016, and 2020, resulting in significant reductions in mining rewards over time. The initial Bitcoin halving in 2012 reduced the block reward 25 BTC.

The primary objective of the Bitcoin halving is to control scarcity and regulate the inflationary supply of Bitcoin. Satoshi Nakamoto, the pseudonymous founder of Bitcoin, incorporated this mechanism into the code. By halving mining rewards, this process effectively slows down the rate of new Bitcoin creation. The system will persist until approximately 2140 when all Bitcoin is mined.

 

Plenty Of Anticipation

Major Bitcoin miners have been preparing for the event. Marathon Digital recently announced its intention to acquire a 200-megawatt (MW) Bitcoin mining facility in Texas for $87.3 million. In December 2023, competitor Bitcoin mining firm Riot Platforms purchased 66,560 mining rigs through manufacturer MicroBT in one of the largest expansions of hash rate in history.

In any case, the Bitcoin halving is a crucial event that historically indicates a shift in the market, typically initiating a bullish trend over the following months. Despite short-term forecasts of price volatility within the crypto community, there is optimism about the long-term price potential of both BTC and the crypto industry in general.

 

April 19,2024

Everything You Need To Know About World Chain

Blockchain technology has undergone significant evolution since its inception with Bitcoin (BTC), promising a revolutionary approach to digital interaction. However, this progression faces challenges, particularly in scalability and governance, which are consistently undermined by bot activity.

Under the leadership of Sam Altman, Worldcoin is preparing to introduce World Chain in the upcoming summer of 2024, a fresh blockchain network that seamlessly integrates with the World ID system. The objective is to prioritize transactions by authenticated human users.

 

Validating Genuine Users

On April 17th, 2024, Worldcoin revealed World Chain, a blockchain network interconnected with World ID, prioritizing transactions made by humans. Utilizing the Worldcoin Proof of Personhood system and iris-scanning orbs, biometric data ensures the authenticity of human users on the network.

On the technical front, World Chain will operate as an L2 solution on Ethereum, leveraging the security of the largest smart-contract-enabled blockchain networks while retaining the speed of an L2 network. The network, scheduled for launch in the summer of 2024, will give preference to transactions originating through verified human users, which includes the 5 million individuals by 160 countries who have authenticated their World ID through the iris-scanning orb.

Through this, World Chain can authenticate users as genuine humans, enabling expedited transaction processing for humans. Moreover, verified users will receive a designated amount of free gas for transactions, facilitating cost-free transfers across the network, further encouraging participation.

 

Targeting Bots

Bot activity has become a growing concern for blockchain networks, impacting network congestion, airdrops, and decentralized governance systems within the blockchain ecosystem. Most recently, bot traffic has caused significant congestion issues on the Solana network.

Regarding cryptocurrency airdrops, bots often dominate rewards, with airdrop farmers programming bots to create multiple wallets, thus acquiring a disproportionate share of rewards, distorting distribution and devaluing rewards for genuine participants.

In governance, bots can accumulate substantial voting power, leading to manipulated outcomes that do not align with the intentions of the community. Additionally, in systems where governance participation is incentivized, bots can exploit these mechanisms, diverting valuable resources.

 

On The Other Hand

Several countries, including Kenya and Spain, have prohibited the aforementioned iris scanning technology, citing various privacy concerns. To make matters worse, Worldcoin encountered a significant hack last year, exposing sensitive user data. The project has since addressed its vulnerabilities.

Still, by alleviating congestion and prioritizing human transactions, World Chain has the potential to enhance the blockchain user experience, rendering it faster and more economical for everyday users.

 

April 19,2024

Ethereum TPS Charts Have A New Leader In Degen Chain

Degen Chain, a recent addition to the Ethereum layer-3 network, has demonstrated the highest transaction per second (TPS) rate within the Ethereum ecosystem in the past 24 hours. In this period, Degen saw its TPS surge by 62%, reaching 35.7 TPS, surpassing its foundation blockchain, Base, which achieved 29.7 TPS, as reported by L2BEAT. Other contenders in the top five include Arbitrum One, Ethereum, and zkSync Era.

 

The Importance Of TPS

TPS is an essential metric in blockchain technology because it measures the capacity to process transactions within a given timeframe. A higher TPS indicates greater scalability and efficiency, allowing more transactions to be confirmed quickly and reducing congestion on the network. This is crucial for mainstream adoption of blockchain technology, especially in applications requiring high throughput, such as payment systems or DeFi platforms.

Calculating the aforementioned 35.7 TPS over 86,400 seconds in a day implies that the meme coin chain handled 3.08 million transactions during that time frame. Despite this, Degen Chain saw a modest trading volume of $819,600 in the last day, ranking it 35th out of 44 blockchains monitored by CoinGecko.

This results in an average transaction value of $0.27, significantly lower than Ethereum and Base, which stand at $1,867 and $170, respectively. Although TPS is commonly used to gauge the scalability of a blockchain, industry experts argue its limitations, as it overlooks the computational complexity of each transaction.

 

Accumulating Social Worth

Degen Chain operates on the Degen (DEGEN) token, originally conceived as a tipping mechanism for users engaging with the Degen channel on Farcaster, a decentralized social media platform. According to Thomas Tang of Ryze Labs, this demonstrates how a meme coin can accumulate social worth through widespread usage.

With $4.1 million locked in total value and a $326 million market capitalization for the three-month-old DEGEN token, Degen Chain represents an ultra low cost, application specific layer 3 blockchain, utilizing Arbitrum Orbit and building upon the settlement layer of Base, an Ethereum layer-2 scaling solution.

 

April 18,2024

New AML And CFT Policies Supported By Senator Elizabeth Warren

United States Senator Elizabeth Warren responded to the recent testimony by Deputy Treasury Secretary Wally Adeyemo before the Senate Banking Committee. In a letter addressed to Treasury Secretary Janet Yellen, she expressed support for Adeyemo and his stance on policies concerning anti-money laundering (AML) and countering terrorism financing (CFT).

 

Endorsing Regulatory Measures For Stablecoins

Senator Warren voiced her full backing for a legislative proposal aimed at implementing additional AML and CFT measures for stablecoins. During the hearing, the Deputy Treasury Secretary discussed various Treasury proposals, including extending its authority to sanction blockchain node operators and other regulatory measures. In a document labeled Letter to Congress by Senator Warren, the Treasury outlined steps it could take to achieve its enforcement objectives and address regulatory gaps.

In her correspondence, Senator Warren emphasized that the proposals outlined in the letter should be carefully considered and incorporated into any forthcoming legislation. She argued that doing so would help establish a regulatory framework for the $157 billion stablecoin market. Notably, Senator Warren was not referring to the stablecoin bill introduced by Senator Kirsten Gillibrand and Cynthia Lummis, which was unveiled after the date of her letter and does not tackle AML/CFT issues.

 

Legislative Initiatives And Regulatory Framework

According to the letter, the bill which Senator Warren referenced is anticipated to originate via the House of Representatives. It is expected to be crafted by Finance Committee Chairman Patrick McHenry and ranking member Maxine Waters. Senator Warren communicated similar concerns to them in a letter, echoing the issues raised in her recent correspondence to Janet Yellen. She stressed the importance of incorporating all the tools requested by the Treasury in its letter to Congress into stablecoin regulations.

Senator Warren underscored the critical necessity of these tools in combating the threats of financial terrorism. Taylor Barr, Senior Policy Associate at the Digital Chamber, expressed interest in what Senator Warren had to say regarding the new Gillibrand and Lummis bill. He observed that her points of discussion did not encompass proposals such as consumer protection language, the Office of the Comptroller regarding currency enforcement authority, and additional receivership provisions in the bill.