The Ultimate Crypto Boom Guide Of 2023

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Crypto Boom
February 15,2023

The Crypto Boom trading bot promises consumers daily earnings of up to 60% from trading cryptocurrencies. You may test the waters using the platforms demo mode and the low commission rate to determine whether its a good match before committing to real money.

Is Crypto Boom a fraud or an actual service? In this Crypto Boom review, well discover!

Explaining The Concept Of The Crypto Boom.

Crypto Boom is a programme that facilitates automated cryptocurrency exchange. An AI-powered system monitors the cryptocurrency market and makes transactions in your stead as needed on the site.

Users, according to Crypto Boom, may make as much as 60% every day in profits. Crypto Boom claims it can enhance your transaction size and fund growth by a factor of up to 5,000:1. If you simply have a few extra bucks to trade with, high leverage might boost your higher earnings. This may raise your profits with certain Bitcoin robots, but it could also boost your losses.

There are zero licence or registration costs associated with using Crypto Boom. A 2% commission of gross sales is all that is required of you. In other words, you dont have to worry about shelling out any cash until you start earning any.

The Crypto Boom: How Does It Operate?

The foundation of the Crypto Boom is an exclusive trading algorithm based on artificial intelligence. Thanks to its extensive training on market data spanning many years, this program can identify price patterns that are highly indicative of a successful transaction.

The algorithm behind Crypto Boom makes orders to purchase and sell cryptocurrencies when it detects a trading signal. When making these kinds of deals, traders often make advantage of the leveraging of up to 5,000:1.

A sell order will be issued by the algorithm when the predetermined price is achieved or when the trades momentum starts to wane. 

To trade successfully with Crypto Boom, traders dont need to keep a close eye on their accounts. It has a claimed 85% victory record in normal market circumstances and can operate around the clock. Crypto Boom claims a high percentage of success, however, we were unable to confirm this. Remember that employing leverage raises the possibility of your trading losses, which is something to keep in mind while engaging in any kind of trading.

Demo trading mode also allows you to test out different settings for the trading algorithm. To fine-tune the algorithm or instruct it to trade more or less aggressively, tinkering with the parameters might be useful.

Distinctive Characteristics of the Crypto Boom

In this section of our evaluation of the Crypto Boom, lets examine the main characteristics of this trading programme in more detail.

Purported Daily ROI of 60%

Crypto Boom boasts a 60 percent daily profit potential, which is one of the most eye-catching aspects of the service. In other words, if you invest $250, you have a chance of ending the first day with $150 more. Earnings would increase to $240 the next day, and another day after that, and so on. The trading algorithm may operate at all hours.

Remember that we couldnt confirm Crypto Booms promised success rate or daily return. The possibility of financial loss is inherent in trading, and this includes trading on Crypto Boom.

Utilise A Leverage Ratio

When trading CFD pairings involving cryptocurrencies, Crypto Boom claims to utilise the leverage of up to 5,000:1. If you simply possess a few extra bucks in your trading account, high leverage may help you make bigger trades.

Keep in mind that if your transaction goes against you, the high leverage will magnify your losses as well.

Buying And Selling In 14 Different Asset Classes

According to our Crypto Boom review, you may use this exchange to buy and sell 14 different digital currencies.

The Bitcoin CFD market also allows for the trading of altcoins. In this way, Crypto Boom provides traders with access to a wide variety of marketplaces.

Practice Market Mode

If youre interested in giving Crypto Boom a try but dont want to commit any real cash, you may use the softwares demo trading mode. This is significant since you can tweak the algorithms parameters in a practice trading environment. Before you start trading for real money, use the Crypto Boom demo mode to fine-tune your settings to the current market.

Commissions on the Crypto Boom

According to our analysis of Crypto Boom, there are no subscription or account fees associated with using this programme. Instead, Crypto Boom charges a 2% fee on all trading gains. Although a two percent fee might add up quickly for large accounts, this model ensures that you only pay for the software if and when it generates a profit for you.

To What Extent Is Crypto Boom Profitable?

Many investors want to know whether they can boost their earnings by using the crypto trading robot. The amount of money you make trading with this robot depends on how hard you work and how thoroughly you study the markets. Although Crypto Boom is programmed to manage your bitcoin holdings, you should still keep a close eye on your transactions.

Keep in mind that even though the Crypto Boom bot boasts a 95% success record, there is still a chance that it may miss out on certain profitable trends. Using Crypto Boom carries no assurance of financial success.

Can You Tell Me How To Close My Account At Crypto Boom?

If you know your way around the trading interface, closing your account on Crypto Boom is a breeze. This takes just a minute or two, but before you do it, you should phone their customer service and let them know what youre up to.

If they no longer want to use Crypto Boom, traders may cancel their accounts by contacting their corresponding broker. If you remove your brokers trading account, you will lose all associated data. If you want to succeed, you need to be prepared for the fallout of your approach, whatever it may be.

The Judgement

Our analysis of Crypto Boom showed that their trading platform allows users to delegate decision-making to an AI system that can trade cryptocurrencies around the clock.

The Crypto Boom website claims a success rate of 85% for the algorithm and claims that traders can expect daily earnings of 60%. Its important to remember that theres always a chance you might lose money if you decide to trade with Crypto Boom. We were unable to confirm Crypto Booms claims of success.

At Crypto Boom, you wont have to worry about paying any fees just to use your account or make a deposit. You may get started with as little as $250, and you only pay to utilise the platform when you generate money.

 







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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 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 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 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 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 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.

 

April 18,2024

Two NFT Games Offloaded As Yuga Labs Aims To Liberate BAYC Team

Yuga Labs, the company responsible for the NFT series Bored Ape Yacht Club (BAYC), has transferred the intellectual property rights for two of its games, HV-MTL and Legends of the Mara. This move aligns with their previously stated intention to refocus the company.

In a post dated April 17th, 2024, on X, Yuga Labs announced that Faraway, a Web3 gaming studio, had acquired the IP. Additionally, Spencer Tucker, the Chief Gaming Officer for Yuga Labs, will join Faraway as the new chief product officer to ensure continuity between the games at the new company.

 

Time For Change

HV-MTL is an NFT-focused mech game where players manage and upgrade their NFTs and local environments. On the other hand, Legends of the Mara is an adventure game integrated into the Otherside metaverse, which was launched on April 30th, 2022.

Yuga Labs and Faraway have had a close working relationship, with Faraway previously developing a game themed around the Mutant Ape Yacht Club called Serum City. The decision by Yuga to transfer its gaming IP to Faraway reflects a broader effort to liberate the team, which was initiated when co-founder Greg Solano returned to Yuga and replaced Daniel Allegre as CEO in February of this year.

 

NFTs Continue To Struggle

The announcement coincides with a general downturn in NFTs across the market, with the flagship BAYC collection being one of the hardest hit among top NFT collections. At the time of writing, the floor price of the BAYC collection is 11.7 Ether (ETH), equivalent to about $35,400 at current prices. This represents a significant decrease of 92% compared to its all-time high floor price of 153.7 ETH, recorded on May 1st, 2022.

Earlier this year, Yuga Labs caused controversy among NFT holders and community members on January 7th when it announced the acquisition of the controversial Moonbirds collection and the appointment of Kevin Rose, the creator of the project, as an advisor.

 

April 17,2024

Klickl Obtains FSP In Abu Dhabi As The UAE Looks Toward The Future

Klickl International, a progressive provider of financial infrastructure headquartered in Abu Dhabi, is proud to announce its recent achievement of securing the Financial Services Permission (FSP) via the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market.

This milestone underscores the commitment by Klickl to addressing challenges in the Web3 and virtual asset sectors by developing an integrated financial platform that seamlessly combines traditional finance (TradFi) with the evolving realm of cryptocurrency.

 

A Revolutionary System

Founded in Abu Dhabi, Klickl strategically leverages the local forward-thinking regulatory landscape and dynamic economic environment. This strategic positioning allows Klickl to streamline operations, bridging the divide between traditional financial markets and the digital economy. Such an approach not only ensures smoother transitions and enhanced accessibility but also lays the foundation for integrating the next billion users into the Web3 ecosystem.

Klickl is uniquely designed to be destination-agnostic, operating under a decentralized global licensing framework that empowers users across diverse jurisdictions. This innovative framework not only promotes inclusivity in financial services but also significantly impacts the global virtual assets community, facilitating seamless exchanges across varied financial domains.

 

Best Of Two Worlds

Michael Zhao, CEO of Klickl, articulated his vision by stating that securing the FSP license by the FSRA represents more than a regulatory milestone, as it affirms an overall vision to seamlessly merge traditional finance and cryptocurrency. Zhao further claimed that the local forward-looking regulatory initiatives are indispensable in terms of redefining financial infrastructure.

Looking ahead, Klickl is eager to continue forging ahead, ensuring the digital economy is accessible, secure, and efficient for all. With this latest licensing achievement, Klickl is poised to expand its operations, offering robust, secure, and compliant financial services tailored to the demands of the contemporary dynamic financial landscape and the future of digital horizons.