LEAP - a new sports social media platform let’s youth athletes monetize their skills
In the U.S., home to many of the most prominent sports associations in the world as well as a high-class college and youth sports infrastructure, only one out of 16,000 high school athletes turns pro. In regions like Latin America and Africa, where sports are just as popular but resources more limited, the chances are even lower.
By specifically working with young athletes from impoverished and isolated communities, LEAP brings together a digital community of both youth sports talent and talent seekers and fans to help the athletes, not only gain recognition, but also get rewarded based on their skill levels.
In the newly released whitepaper, LEAP breaks down its $LEAP token, the tokenomics, as well as the distribution algorithm and many platform features including the marketplace, in-game experience, and NFT collections.
LEAP, founded in 2021 and based in Israel, is a sports discovery and monetization platform empowering young athletes from across the world to develop and improve their talent through a gamified online experience. On LEAP’s platform, youth talent can create short-form videos of their real-life skills and use them to compete online with other talents worldwide in the digital arena in order to gain recognition from peers and talent seekers, while also getting rewarded. By leveraging blockchain technology, using NFTs, and a real-life in-app gaming mode, LEAP is building a digital sports community to democratize talent discovery across the globe and ensure their social inclusion.
In the whitepaper LEAP’s introduces a sports economy powered by Web3.0 and Play-2-Earn elements, offering an alternative route to stardom for young athletes and a new way to monetize their skills
“Our whitepaper serves as our manifesto and marks an important milestone for the LEAP community because it's paving the way for our platform launch,” says Omri Lachman, CEO and Co-Founder of LEAP.
“Our platform approaches the sports industry from a completely new and different perspective. We are diligently building the framework to host a global network of sports talents as well as talent seekers, agents, and fans in a fun and interactive way that uses Web3.0 technology to help level the sports playing field for all, while delivering the Web3.0 visionary promise of individual ownership over data, content and digital assets.”
The release of LEAP’s whitepaper signals the upcoming launch of its platform, detailing the token creation (ERC-20) process, partnerships with exchanges, launch of the prototype, and more. In the whitepaper, LEAP chronicles $LEAP utility token’s potential to facilitate the entire platform’s economy and support a global community connecting young athletes with talent seekers. An athlete using LEAP receives a unique digital player card, backed by an NFT after completing certain milestones as they engage with the platform.
Player card NFTs upgrade as the athlete’s score and rank in LEAP’s gamified platform increases. Talent seekers, fans, pro athletes, and others who join the athlete’s “Fan Clan” can acquire his or her NFT player card and become active endorsers having a direct impact on the athlete’s growth. This offers an engaging way to reward and motivate digitally native, next-generation athletes and those who support them early on.
Through LEAP, youth athletes get to showcase their skill-sets in short-form videos uploaded to the platform. By specifically working with young athletes from impoverished and isolated communities, LEAP brings together a digital community of both youth sports talent and talent seekers to help the athletes, not only gain recognition, but also get rewarded based on their skill levels and continuous engagement in sport activities. The app features a customized video creator—LEAP Studio—with specific filters, sticks, and add-ons to help talents better highlight their individual skills based on their sport. Talents can use the videos to challenge each other in LEAP DARE Battles, where the community votes for whoever they think performed the skill better, and winning will boost the value and rarity of the users NFT Player Card.
For more information visit https://www.playleap.io/ and https://www.leaptoken.io/
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Green is The New Gold: The Top 3 Blockchain Projects Saving the Planet
In recent decades, discourse around the environment has become more significant and everpresent. People are rightfully worried about how our technologies affect our global ecosystem. With the recent heatwaves and fires that spread around Europe this summer, the topic of climate change has been on everybody's lips.
Blockchain tech is often a primary antagonist when the environment is discussed. Bitcoin is regularly cited as being deeply energy hungry and detrimental to the preservation of our world. However, several projects in this industry have the opposite effect, directly helping the environment. Let’s delve into three crucial blockchain projects that are making an effort to bring positive environmental change.
Megatech
Megatech is a project that promotes and incentivizes the use of solar power within Africa. To do this, Megatech has launched a cryptocurrency that gives token holders returns on the solar fields that the company owns. When these solar fields are used, token holders earn more money, incentivizing people to fund and promote sustainable energy sources.
Megatech is already in motion to set up one of its solar fields (named Project Beta) in Hertzogville Free state, South Africa. It is a 60-megawatt plant connected to a 100-megawatt per hour (MWh) state-of-the-art storage technology unit. This allows for maximum efficiency and, therefore, maximum sustainability.
The idea behind Megatech is to help solve the energy supply crisis in South Africa, where there is not enough electricity within the country to sufficiently power its national grid, causing blackouts and shortages. However, Megatech is also looking to help the global effort to bring sustainable energy, as they have teamed up with ZPN Energy, a UK energy and storage provider.
Nori
Nori is a blockchain-based carbon removal company aimed at helping people and organizations reduce or neutralize their carbon footprint. To do this, Nori has created a carbon removal marketplace– this is where people can choose to offset or eliminate their carbon footprint by paying other companies to remove carbon from the atmosphere. Currently, the marketplace focuses on allowing people to fund agriculture projects that store carbon within the soil.
When somebody pays for carbon removal on the marketplace, their transaction is logged to the blockchain. They are subsequently given a verifiable certificate proving they have made a positive environmental change. This is especially important as the carbon credit, and removal industry is rife with fraudulent behavior, pushing companies to use traceable and publicly visible records to prevent this.
Rewilder
Rewilder is a crypto-based non-profit focused on purchasing land for wildlife conservation. The project asks users to donate Ethereum, which goes directly towards purchasing and preserving land worldwide. After donating, each user is issued a special NFT that provides regular updates on how their money has been used and what environmental impact they have instigated.
Like Nori, Rewilder is mindful of the need for transparency regarding environmental procedures. Therefore, everything that happens within this project can be tracked and traced via the Ethereum blockchain. People can even find the specific location of the land they helped to conserve via their NFTs.
Shifting Perspectives
These three projects actively change the discourse around blockchain tech and the environment. They are moving the needle away from the damaging practices that projects like Bitcoin have been shown to employ and towards more eco-conscious efforts. And by doing this, they are changing people's opinions of blockchain tech and proving that this industry can act as a bastion of hope for the world.
The crypto and blockchain industry is becoming a champion of the environment, with Megatech and other projects leading the charge to transform the world back to a state of ecological and climate harmony.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Ripple Labs Wants To Buy Celsius Assets
The parent company behind the Ripple network has expressed interest in purchasing assets belonging to the bankrupt Celsius Network.
Ripple Looking For M&A Opportunities
A Ripple Labs spokesperson has expressed that the company is considering buying certain assets of the bankrupt crypto lender. However, when asked if Ripple was interested in acquiring Celsius outright, the spokesperson declined to comment.
The representative stated,
"We are interested in learning about Celsius and its assets, and whether any could be relevant to our business.”
They have also mentioned that the payment services company is actively looking for strategic mergers and acquisitions opportunities to scale the company.
Celsius’ Legal Troubles
The Celsius Network has been in a lot of hot water recently, with its CEO Alex Mashinsky drawing in the most criticism. Mashinsky had continued to reassure Celsius customers that everything was okay, even on the brink of bankruptcy. He is also under investigation by a creditor committee set up by the U.S. Trustee department. The lending platform was one of the casualties of the Terra LUNA implosion and had to declare bankruptcy in July after a month of freezing withdrawals.
On the other hand, Ripple Labs has been faring quite well, despite the SEC lawsuit and the bear market, primarily due to its focus on working with international clients and developing global payment networks.
Ripple Interested In Celsius Case
Ripple’s legal representatives applied to the bankruptcy court to be represented in the proceedings of the Celsius case, despite not being one of the lending platform’s major creditors. The filings were approved by the court earlier this week. The above comment was made in response to inquiries about the court filings. The representative declined to elaborate further on the matter.
The bankruptcy filings reveal that Celsius’ assets include digital assets held in custody accounts, loans, a bitcoin mining operation, the platform’s own CEL token, and liquid cash and crypto that the company holds at the moment. Since Ripple Labs has not signed any major deals till now, it should be interesting to see if this interest in the Celsius case actually amounts to something tangible.
Ripple’s Legal Troubles
Ripple has been going through its own legal issues since 2020 when the Securities and Exchanges Commission sued the crypto payments provider for allegedly operating unregistered securities. The Ripple team has denied these allegations, claiming that XRP is solely traded as a digital currency and not a security. The public consensus is that the lawsuit will settle in Ripple’s favor as the case presented by the SEC is flimsy at best.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Crypto.com Secures Virtual Asset Service Provider Registration in Cayman Islands
Cryptocurrency exchange Crypto.com continues its global expansion after securing approval to operate as a virtual asset service provider (VASP) in the Cayman Islands.
Singapore-based crypto exchange Crypto.com has managed to obtain regulatory approval to offer its services in the Cayman Islands it announced on Thursday, August 11. The company said it gained approval from the country’s primary financial market regulatory body, the Cayman Islands Monetary Authority (CIMA). The exchange noted explained that approval makes it possible for it to offer a range of digital asset products and services that are compliant with the islands’ regulations. Co-founder and CEO of Crypto.com Kris Marszalek, said in a statement that the approval is testament to the platform’s continued dedication to compliance. He added that the development proves Crypto.com’s “constructive approach to regulator engagement.” Marszelak said,
This regulatory approval in the Cayman Islands is the latest example of Crypto.com’s commitment to compliance and our constructive approach to regulator engagement. We look forward to expanding our suite of offerings and services available, and continuing to work with stakeholders across sectors on advancing blockchain technology.
With over 50 million users worldwide, Crypto.com continues to grow and expand its ecosystem actively. Thursday’s announcement follows a string of announcements that the exchange received approval to operate in a number of regions. On Monday, August 8, Crypto.com announced it had secured access to the South Korean crypto market after acquiring two local companies that will provide it with VASP registration in the country. Marszalek said of the acquisitions:
This is an exciting next step for Crypto.com in an important market. We are committed to working with regulators to continue to bring our products and services to market, particularly in countries like South Korea where consumers have shown strong interest and adoption of digital currencies.
In July, the exchange announced that it had secured approval from the Cyprus Securities and Exchange Commission to operate within regulations in Cyprus. Crypto.com has also successfully expanded its operations in Italy after securing a regulatory license in the country.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Revolutionary Cryptocurrencies to Purchase: Carlossy Caterpillar, Binance Coin, and Bitcoin
Cryptocurrencies are an integral part of the current financial market. This goes to show the influence and popularity of blockchain technology. Almost every sector of the world's economy has been revolutionized by blockchain technology, and these three cryptocurrencies are doing a great job of contributing to the revolution: Carlossy Caterpillar (CARL), Binance Coin (BNB), and Bitcoin (BTC).
Carlossy Caterpillar (CARL)
In a world of cryptocurrencies, like Bitcoin (BTC) and Ethereum (ETH), that are revolutionizing major industries in the world, Carlossy Caterpillar (CARL) is a new cryptocurrency positioning itself in the decentralized community.
During and after the pandemic, humans saw the need for relaxation and taking breaks. The lockdown brought about the realization of its effects on individual health and the collective well-being of society. As established earlier, cryptocurrency has found a place in most industries, and the area of entertainment is no exception, hence, the introduction of meme coins. Meme coins, as the name suggests, are cryptocurrencies that originated from a meme or a popular photo on social media.
Carlossy Caterpillar (CARL) is a meme coin inspired by the popular chocolate roll cake sold by Mark & Spencer. CarlossyCaterpillar (CARL) will run on the Binance Smart Chain (BSC) and will be used to buy, trade, and stake other digital assets in the blockchain network.
The Carlossy Caterpillar team hopes to integrate more people into blockchain technology by leveraging the growing interest in meme coins. Users who purchase the Carlossy Caterpillar token with Binance Coin (BNB) on the Binance Smart Chain (BSC) will receive a 20% bonus for using BNB.
Binance Coin (BNB)
Initially, based on the Ethereum blockchain as an ERC-20 token, Binance Coin (BNB) is now the native cryptocurrency of the Binance Smart Chain (BSC). With over one million transactions per second, Binance is considered the largest exchange platform globally. The Binance Coin (BNB) is used for all operations on Binance, including trading, payment of transaction fees, and collection of loans.
The Binance Coin (BNB) is similar to how Ether (ETH) works on the Ethereum blockchain. The coin, unlike other cryptocurrencies, cannot be mined. Binance makes sure the Binance Coin (BNB) has a limited supply by using 20% of its profits to repurchase BNB and burn them quarterly.
Bitcoin (BTC)
Being the standard cryptocurrency that first outlined the concept of blockchain, Bitcoin (BTC) is a purely peer-to-peer payment mechanism that allows direct payments from one party to another in a decentralized manner.
The creation of Bitcoin (BTC) brought about the emergence of every known cryptocurrency and has been considered the future of finance. The cryptocurrency is mined by users who give computing power for the verification of transactions on the blockchain. These miners receive Bitcoin (BTC) in exchange.
Bitcoins (BTC) are lines of code that are stored in a wallet online or offline; on a hard drive. The cryptocurrency can be bought and sold by anyone who has access to the internet.
Bitcoin (BTC) is gradually gaining acceptance from major companies and even countries around the world. Hosting more than 200,000 transactions daily, Bitcoin (BTC) has begun a financial revolution that is growing.
Carlossy Caterpillar (CARL), Binance Coin (BNB), and Bitcoin (BTC) are cryptocurrencies rapidly changing the world for good with their constant development.
To find more information on Carlossy Caterpillar (CARL), visit:
Presale: http://carl.carlossy.io/presale
Website: http://carlossy.io/
Telegram: https://t.me/CarlossyCaterpillarOfficial
Disclaimer: This is a sponsored press release, and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice
Buying Uniglo.io (GLO), Ethereum Classic (ETC) And Mina Protocol (MINA) Now Could Help You Reach Top Tier Wealth
The popularity of crypto has grown at an incredible rate in recent years, and many big players have entered the space in a bid to witness exponential growth. The retail is not far behind in chasing generational wealth made possible through investing in top-tier tokens like Uniglo, Ethereum Classic, and Mina Protocol. Let’s see what they have in store for you!
Uniglo (GLO)
Uniglo is a community-focused social currency backed by a wide range of assets, including rare NFTs, digitized art, and cryptocurrencies. A basket of valuable assets protect the floor price of a token that is designed to withstand volatile market conditions. This is made possible through a dedicated vault that is funded through taxation on each transaction. Uniglo embodies scarcity through an ultra-burn mechanism that involves leveraging profits to buy back GLO from the secondary market and burn them. This ensures long-term growth of the ecosystem as a whole, where every holder benefits from the growing strength of the treasury.
Ethereum Classic (ETC)
Ethereum Classic is an open-source decentralized platform that was created in 2016 after The DAO hack. It allows developers to create smart contracts without the involvement of a third party. Ever since the split happened, there have been numerous improvements and upgrades in an effort to become a global financial network with no central governance. Like other digital currencies, ETC will thrive as a store of value, and the recent surge in prices is evidence of how the asset will perform in the near future.
Mina Protocol (MINA)
Popularly known as the world’s lightest blockchain, Mina is building an infrastructure that provides security and privacy for Web 3 applications. The protocol is so small that it doesn’t even require third-party nodes for the network to run. Any user can quickly connect and conduct on-chain verification with complete privacy. The native currency of the blockchain, MINA is required to stake and participate in block production. Holders can also delegate their tokens to earn rewards in exchange for locking their assets. Compared to other blockchains, there’s no bonding or slashing period when it comes to staking MINA.
Find Out More Here
Join Presale: https://presale.uniglo.io/register
Website: https://uniglo.io
Telegram: https://t.me/GloFoundation
Discord: https://discord.gg/a38KRnjQvW
Twitter: https://twitter.com/GloFoundation1
Disclaimer: This is a sponsored press release, and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice
LongHash Ventures Launches Its $100 Million Web3 Venture Fund II with Successful First Close
Singapore, Singapore, 10th August, 2022, ChainwireLongHash Ventures, Asia’s first Web3 Accelerator and one of Asia’s leading Web3 venture funds, officially announces the launch of its $100 million LongHash Ventures Fund II.
LongHash Ventures has received strong support from global investors and industry veterans for its successful first close. It has raised capital from well-known Web3 VCs, single family offices, and Web3 founders such as Hashkey Capital, NGC Ventures, Protocol Labs, Gnosis Safe, MEXC, Synthetix founders Kain and Jordan Warwick, Qiming VC founding partner Duane Kuang, and Astar founder Sota Watanabe, amongst others. The fund will continue to take in capital until the end of the year. Meanwhile, its accelerator arm LongHashX has recently obtained funding at an undisclosed valuation from Superscrypt, a Web3 investment firm founded by Temasek, as well as few large fund LPs including NGC.
LongHash Ventures has earmarked its second fund for multi-chain Web3 infrastructure projects that support key verticals such as DeFi, NFT, GameFi, and the Metaverse. It will be investing in projects and teams from pre-seed to Series A. Thus far, LongHash Ventures has backed more than 60 projects, including Polkadot, Astar, Dodo, Coinshift, Acala, Zapper, Gnosis Safe and Balancer.
LongHash Ventures Fund II will also be investing in the pipeline of projects graduating from its accelerator arm LongHashX. Since its inception in 2018, the LongHashX Accelerator has emerged as Asia’s leading Web3 accelerator. It is the go-to partner for protocols like Polkadot, Filecoin, Algorand, and others looking to accelerate the growth of their respective ecosystems. Accelerator alumni include well known projects such as Astar, Xanpool, and Lit Protocol.
“By running both an accelerator and an early stage fund that provides hands-on support, our unique value lies in leveraging LongHashX to bootstrap the Asia ecosystem for the protocols that we invested in, as well as in identifying founders and projects with massive potential very early on, and using our crypto-native knowledge and resources to help the teams achieve their potential and succeed. The second fund will enable us to support more founders and through subsequent rounds,” said Emma Cui, Founding Partner and CEO of LongHash Ventures.
“In addition, being geographically headquartered in Singapore with team members distributed across Asia, including China, Malaysia, and India, we are uniquely positioned to help projects scale faster across the Asian region.”
About LongHash Ventures
LongHash Ventures is a leading Web3 investment fund and accelerator collaborating closely with founders to build their Web3 model and tap into the vast potential of Asia. We have invested in more than 60 projects including Polkadot, Instadapp, Zapper, Astar, and Balancer. We collaborated with their founders to develop their projects’ tokenomics, governance, and communities.
As Asia's first and leading Web 3 accelerator, LongHashX Accelerator has partnered with Polkadot, Algorand, Filecoin and others to build more than 50 global Web3 projects which have raised more than $150m in the past 4 years. We are committed to realizing our mission of catalyzing growth for the next generation of the Web.
LongHash Ventures is licensed by the Monetary Authority of Singapore.
ContactsSay [email protected]
Reddit Continues Web3 Efforts With FTX Partnership
The partnership with FTX will enhance the user experience on the Community Points project for over 400 million monthly active users on the Reddit platform.
FTX Pay Joins Reddit’s Community Points Project
On Tuesday, FTX announced its global partnership with social media network Reddit to roll out the tokenized Community Points program. FTX is acting as a third-party service provider through its FTX Pay feature.
In its statement, FTX noted,
“We are excited to help bring Reddit’s vision to life and help communities break free of walled gardens and take ownership of their existence online. We welcome you to check out Community Points!”
The project, announced in 2020 as a novel way to empower Redditors, has finally gone live with its beta version. After the NFT Avatar feature, the Community Points will allow users to “own a piece of their community” by adding a custom token to their subreddit. It also opens up opportunities for earning rewards, creating more quality content, and unlocking special features.
FTX Pay To Top Up Funds On Reddit Vault
FTX Pay is a regulated crypto payments service managed by FTX. As a Reddit partner, the FTX Pay feature is integrated into the Reddit Vault wallet app for users to top up their insufficient funds. Even though Community Points cannot be bought, they can be gifted; and FTX Pay enables a simple method of buying additional ETH to pay the Ethereum network “gas fees” to collect airdrops. Upon detecting insufficient funds, the app automatically prompts the user to redirect to FTX, where they can buy ETH via credit or debit card after completing authentication.
The project is being rolled out step-by-step, with the r/CryptoCurrency and r/FortnightBR subreddits being the first to experience it. Since it is still very much an opt-in feature, other subreddit moderators can sign up on a waitlist to join the project,
More About Community Points
These Community Points are ERC-20 tokens on the Arbitrum Nova blockchain, which are burned and removed from circulation once used. Unlike most other tokens, Points cannot be bought; they have to be earned through contributions like creating content and moderating subreddits.
According to the official sub on Reddit,
“Communities are the lifeblood of the Internet. But on today's Internet, they are not in charge of their own destiny. Instead, they are controlled by the large platforms that hold all the power online. It is time for a change. Community Points are the first step towards a different future for online communities. These tokens live on the blockchain, which means they are truly owned by the community. Over time, your community will benefit from even greater control and independence — on and off of Reddit.”
Furthermore, different Reddit communities can customize the Community Points tool to create tokens with new names, symbols, distribution rules, and purposes. Subreddits can also use them for community governance and moderation purposes, as well as for unlocking premium features.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Vitalik Buterin Defends Tornado Cash Use Cases Amid U.S. Sanctions
Days after the U.S. government announced sanctions against crypto mixing platform Tornado Cash, Ethereum co-founder and alpha developer Vitalik Buterin opined on the matter, defending the platform's use case for legitimate contexts.
According to Buterin, Tornado Cash is an example of a platform that can be used for legitimate use cases, such as donating to causes that are politically contentious. Buterin, for one, admitted that he has used the platform to donate to Ukraine, which has been needing aid from the international community due to its present geopolitical conflict with Russia.
I'll out myself as someone who has used TC to donate to this exact cause.
— vitalik.eth (@VitalikButerin) August 9, 2022
Donations in solidarity with Ukraine's predicament have poured in from around the world, and the concern with regards to the privacy measures in place for doing so have abound since then. Crypto mixing platform Tornado Cash has been identified as one of the key services used for this purpose.
In recent weeks, the U.S. Department of Justice (DoJ) has been scrutinizing crypto mixer services such as Tornado Cash for possible links to criminal activity, leading to the U.S. Treasury instituting a ban for alleged laundering of "proceeds of cybercrimes," among other reasons.
The U.S. Treasury's Office of Foreign Assets Control (OFAC) has placed Tornado Cash on its sanctions list, meaning that any crypto addresses associated with the platform are now blocked from receiving crypto from U.S.-based wallet services or exchanges. The OFAC has also warned that Americans who transact with sanctioned entities could face civil or criminal penalties. Despite this, Buterin argued that crypto mixers like Tornado Cash can still be used for legitimate purpose.
This move by the U.S. government is seen by the crypto community as yet another attack on crypto privacy and consumer privacy rights in general, with some even going so far as to call it a declaration of war against crypto users who value their privacy rights.
"Wanting to donate to Ukraine is a great example of a valid need for financial privacy. On this note, curious if there are documented examples of TC having been used for this," shares Jeff Coleman, co-founder of Counterfactual.
As a smart contract mixer built on Ethereum, Tornado Cash was built with privacy and security as its first principles, with its code fully open sourced and community-controlled. No single entity can manipulate the platform and decide on its evolution. The Tornado Cash platform relies solely on a decentralized decision process to forward upgrades to its protocol, ensuring that the protocol lives on without interference from bad actors.
According to the U.S. Treasury alleges that the platform “has been used to launder more than $7 billion worth of virtual currency since its creation in 2019,” including some $455 million stolen by the infamous Lazarus Group, a group of threat actors involved in recent DeFi heists. Sources from the U.S. state intelligence service also point to the DPRK (Democratic People's Republic of Korea) as the state sponsoring this said group.
Tornado Cash has disclosed that its operations have also been affected since the ban, despite the sanctions only going for the U.S. jurisdiction. According to its co-founder, Roman Semenov, his GitHub account has been suspended, with resources for the platform also being suspended. This includes the platform's smart contract addresses linked to Circle (for stablecoins) and for the Infura RPC (for its Web3 gateways).
These sanctions have sent shockwaves across the industry, prompting discussion among policy and lobbying groups. Jerry Brito, executive director at Coin Center, says that the sanctions were implemented on a tool that was designed to be neutral in character. Coin Center is a non-profit that works for the benefit of pushing policy issues in the crypto sector.
Blockchain Association's Head of Policy, Jake Chervinsky, opined that despite their association's support for the U.S. Treasury's rationale for the sanctions, they reserve some concern over the fact that the ban "crosses a line that the US government has always respected [and] should continue to uphold as a matter of good policy." According to Chervinsky, the decision "to sanction a decentralized protocol, threatens that smart [and] balanced approach to crypto," referring to the Treasury's previous decisions which have largely been supportive of the crypto sector.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Crypto Daily - Crypto And Financial News 10/08/2022 Crypto Contagion Spreads To Hodlnaut
In Todays Headline TV CryptoDaily News:
Renewable energy company closes $4.3M capital round.
Vespene Energy, a Berkeley, California-based company that converts methane gas released from landfills into power for bitcoin mining, closed a $4.3 million funding round led by blockchain investment firm Polychain Capital and other climate-focused funds.
Crypto hit by new security woes in incident at DeFi protocol.
Cryptocurrency exchange Curve Finance appeared to have been buffeted by a security incident, adding to a litany of recent breaches afflicting the digital-token sector.
Crypto lender Hodlnaut follows other firms in freezing withdrawals.
Cryptocurrency lender Hodlnaut is the latest firm to succumb to tumultuous market conditions and halt withdrawals. In a post on its website, the Singapore-based company announced that it’s freezing withdrawals, token swaps, and deposits due to an uncertain economy that some say triggered a “crypto winter.”
BTC/USD dove 3.2% in the last session.
The Bitcoin-Dollar pair plummeted 3.2% in the last session. The Ultimate Oscillator is giving a negative signal. Support is at 226751 and resistance at 247951.
The Ultimate Oscillator is giving a negative signal.
ETH/USD plummeted 4.9% in the last session.
The Ethereum-Dollar pair plummeted 4.9% in the last session. The Stochastic indicator is giving a negative signal. Support is at 1643.751 and resistance at 1880.471.
The Stochastic indicator is currently in negative territory.
XRP/USD plummeted 3.7% in the last session.
The Ripple-Dollar pair plummeted 3.7% in the last session. The MACD is giving a negative signal. Support is at 0.3651 and resistance at 0.3914.
The MACD is giving a negative signal.
LTC/USD dove 5.8% in the last session.
The Litecoin-Dollar pair dove 5.8% in the last session. The Williams indicator's negative signal is in line with the overall technical analysis. Support is at 59.2367 and resistance at 65.7767.
The Williams indicator is currently in the negative zone.
Daily Economic Calendar:
UK RICS Housing Price Balance
The RICS Housing Price Balance survey presents housing costs. It shows the strength of the housing market. The UK's RICS Housing Price Balance will be released at 23:01 GMT, the US MBA Mortgage Applications at 11:00 GMT, Germany's Consumer Price Index at 06:00 GMT.
US MBA Mortgage Applications
The MBA Mortgage Applications released by the Mortgage Bankers Association presents various mortgage applications. It is considered as a leading indicator of the U.S Housing Market.
DE Consumer Price Index
The Consumer Price Index measures price movements by comparing the retail prices of a representative shopping basket of goods and services.
US Monthly Budget Statement
The Monthly Budget Statement summarizes the financial activities of federal entities, disbursing officers, and Federal Reserve banks. The US Monthly Budget Statement will be released at 18:00 GMT, Finland's Industrial Output at 05:00 GMT, the US Consumer Price Index at 12:30 GMT.
FI Industrial Output
The Industrial Output shows the volume of production of industries, i.e., factories and manufacturing.
US Consumer Price Index
The Consumer Price Index measures price movements by comparing the retail prices of a representative shopping basket of goods and services.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Everdome Secures $10M Investment Commitment From GEM Digital Limited
[PRESS RELEASE – Dubai, UAE, 9th August, 2022] Everdome, the most hyper-realistic metaverse, has announced that GEM Digital Limited (GEM), a Bahamian-based, digital asset investment firm, that sources, structures and invests in utility tokens listed on over 30 CEXs and DEXs globally, has agreed to an investment commitment of US$10 million into the UAE-based metaverse […]
OWNIC Announces Release of the First-Ever Dynamic Sports NFTs
[PRESS RELEASE – Milan, Italy, 8th August 2022] Digital sports collectibles startup, OWNIC, has announced the date for their first dynamic NFT drop. The platform will launch on the 22nd of August 2022 and offer the collection of the captain of the Italian national football team and Juventus, Leonardo Bonucci, on pre-sale. The release will […]
ETH Price Analysis – Ethereum Price Rises to $1,800 as Trading Volume Increases
After an underwhelming performance this weekend, with Ethereum prices trading sideways within the $1,600-$1,700 range, ETH managed to break through the resistance and trade at $1,800. The global cryptocurrency market cap is up 5% today, currently at $1.137 trillion, and the 24-hour trading volume for ETHUSD is up by over 34%, currently at $14.4 billion. […]
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