BORA(BORA)

The strategic investment into Northern Data through Tether group company Damoon may involve collaborations leveraging AI, P2P communications, and data storage solutions.

[PRESS RELEASE – Dubai, UAE, September 20th, 2023] In the world of blockchain technology, where each day brings new possibilities and challenges, the spirit of collaboration and open-source development stands as the beacon guiding us forward. Ottochain, a trailblazing multi-chain ecosystem, is thrilled to pay homage to EVMOS and Eth L2, the giants on whose […]

[PRESS RELEASE – London, United Kingdom, September 20th, 2023] Metacade, the world’s first community-led gaming platform, has confirmed it will list its token, MCADE, on Bitget on the 20th of September – a strategic move welcomed by investors as it accompanies a number of recent announcements about new collaborations and product updates. Bitget is a […]

Metacade, the world’s first community-led gaming platform, has confirmed it will list its token, MCADE, on Bitget on the 20th of September - a strategic move welcomed by investors as it accompanies a number of recent announcements about new collaborations and product updates.

[PRESS RELEASE – Singapore, Singapore, September 20th, 2023] Registration is now open for global hackathon with $200,000 in prizes across five tracks The Algorand Foundation, the organization focused on growing the ecosystem for the world’s most advanced, secure and reliable layer-1 blockchain, announces the opening of registration for Build-A-Bull, a global virtual hackathon with $200,000 […]

Algorand Foundation Announces Build-A-Bull Hackathon in collaboration with AWS

The Philippine SEC is now collaborating with the U.S. SEC and the Asian Development Bank to better combat crypto-related crime.

Deutsche Bank AG has cemented a partnership with Swiss crypto technology firm, Taurus SA. This collaboration propels Deutsche Bank closer to unveiling its digital assets custody service.

[PRESS RELEASE – New York, USA, September 14th, 2023] The collaboration aims to enhance cross-chain interoperability and support the expansion of wstETH and other assets in the Cosmos ecosystem Neutron, the most secure cross-chain smart-contracting platform for DeFi, and Axelar, the full-stack interoperability layer for Web3, have been selected by Lido, the leading liquid staking […]

In the rapidly evolving landscape of cryptocurrency, integration and cooperation stand as crucial pillars.

[PRESS RELEASE – Singapore, Singapore, September 12th, 2023] The boundless realm of Web3 gaming holds immense collaborative potential, and today marks the announcement of a strategic partnership between two leaders in the space, MixMarvel and Yeeha Games. Possessing a mutual passion for delivering outstanding gaming experiences, this alliance aims to redefine the boundaries of decentralized […]

[PRESS RELEASE – Abuja, Nigeria/FCT, September 8th, 2023] Ottochain, a revolutionary application-specific blockchain (Appchain) within the Octopus Network, is poised to reshape the landscape of Web3 and redefine how communities engage with groundbreaking technology. With its focus on interoperability, security, and community-driven governance, Ottochain empowers users, developers, investors, and communities to collaboratively build the future […]

Andreessen Horowitz, Paris Hilton and Samsung have invested in the new blockchain-based open IP collaboration network, Story Protocol.

This collaboration aims to collectively safeguard against actors, whether state-affiliated or not, who seek to misuse AI for their objectives.

[PRESS RELEASE – London, United Kingdom, September 1st, 2023] Veloce, the world’s leading digital racing media network, will be launching its Utility and Governance token, VEXT, on September 4, 2023. VEXT will be launching exclusively on ByBit, a top three global crypto exchange. Veloce has collaborated with Polygon Labs, an international software development company building […]

The collaboration aims to digitize governmental processes, along with the healthcare and education sectors.

Binance exchange has decided to wind down support for its widely recognized stablecoin, BUSD, next year, in collaboration with Paxos.

Swift and Chainlink announced in June they were collaborating with dozens of financial institutions to test connecting blockchains.

Introduction If financial markets are an ocean, then liquidity is the water. Although definitions of liquidity vary between the availability of cash and the cash itself, one thing is for certain; just as an ocean cannot exist without water, a market cannot function without liquidity. Meanwhile, the flow of liquidity between markets can make or break them. Furthermore, the liquidity of a particular asset, cryptocurrency for example, is an important indicator of their viability as well as an essential element of their tradability. Thus, in financial markets, liquidity truly is king! Understanding Markets: Why Liquidity is King Before jumping into its importance, let us define the concept. Liquidity, in its most fundamental sense, refers to the ease with which an asset can be bought or sold in the market. This tradability often correlates with the availability of the asset and is therefore conflated with the relative quantity of the asset itself. Accordingly, liquidity is discussed in relation to an individual or group allocating their funds to an opportunity in addition to the liquidity of an asset or market itself. Nevertheless, liquidity in both forms is critical, with its importance having been recognised by numerous economists and financial theorists throughout history. For instance, Nobel laureate Eugene Fama highlighted liquidity's role in ensuring that asset prices fully reflect all available information, as stated in his Efficient Market Hypothesis. The concept of liquidity is multifaceted, encompassing aspects such as market depth, immediacy, and tightness. Market depth refers to the exchange’s ability to handle large orders without significant price changes that occur following a trade, known as slippage. Immediacy is the speed at which orders can be executed. Finally, tightness refers to the spread between the bid (purchase) and ask (sale) prices. A market is considered highly liquid if it possesses depth, immediacy, and tight spreads in the order book, allowing for efficient price discovery and minimal transaction costs. In the burgeoning world of decentralised finance (DeFi), liquidity takes on a newfound importance. Liquidity in these markets is often provided by liquidity providers (LPs) who pool their assets in smart contracts. These liquidity pools are used to facilitate trading activities on decentralised exchanges (DEXs), with LPs earning fees in return. The concept of Automated Market Makers (AMMs), pioneered by platforms like Uniswap, hinges on this principle of liquidity provision. The importance of liquidity in these markets cannot be overstated. It is the cornerstone upon which the promise of DeFi - a truly open, inclusive, and efficient financial system - is built. The Role of Liquidity in Driving DeFi Innovation The management of liquidity and the maximisation of capital efficiency have been pivotal in driving the continued innovation of DEXs in the DeFi landscape. As the backbone of DeFi, DEXs have had to constantly evolve and adapt to the challenges posed by the unique characteristics of the crypto market, particularly its volatility and the fragmentation of liquidity. The quest for efficient liquidity management and capital utilisation has led to the development of novel mechanisms and protocols. Uniswap, one of the pioneers of the AMM model, serves as a prime example of this liquidity-driven innovation In its initial iteration, Uniswap V1, the platform introduced the concept of liquidity pools, where users could deposit equal values of ETH and any Ethereum Request for Comment 20 standard token (ERC-20) to create a market. While this model was revolutionary, it had its limitations, particularly in terms of capital efficiency. The 50/50 liquidity provision requirement meant that capital was often underutilised, especially for pairs with significant price disparity. In response to this, Uniswap V2 introduced several improvements, including the ability to create direct pairs between any two ERC-20 tokens, thereby improving capital efficiency. However, the most significant leap came with Uniswap V3, which introduced concentrated liquidity. This feature allows liquidity providers to specify price ranges for their liquidity, thereby maximising capital efficiency. Using this model, LPs can provide liquidity only at price levels where they anticipate trading activity, ensuring they are constantly making use of the liquidity in pools. This innovation has not only improved capital efficiency but reduced slippage, benefiting traders. The evolution of Uniswap and the broader DeFi landscape underscores the critical role of liquidity management and capital efficiency in driving innovation. As the DeFi space continues to mature, the quest for improved liquidity and capital utilisation will undoubtedly continue to shape its trajectory. From the development of more sophisticated AMM models to the integration of cross-chain and layer 2 solutions, the pursuit of liquidity and capital efficiency will remain at the forefront of DeFi innovation. The role of liquidity in driving DeFi innovation is not only significant yet concurrently transformative, shaping the future of finance in profound and novel ways. Taking the Next Step with Elektrik Despite the progress made by protocols such as Uniswap V3, liquidity in web3 is still critically underutilised. While DeFi boasts a number of protocols that offer high levels of capital efficiency, the relatively small amount of liquidity present in the market often causes issues, particularly as it pertains to the cold start problem. At its core, the cold start problem refers to the challenge of launching a new product or service in a market where network effects are prevalent. In such markets, the value of the product or service increases with the number of users, creating a virtuous cycle of growth. However, this also means that when a product or service is first launched, it has little to no value as there are no users yet. Subsequently, at a fundamental level, the cold-start problem can be understood through a question - in an environment where users extract value from the existence of other users, why would the initial wave of users remain in the environment? This problem is faced not only by newly minted protocols aiming to facilitate the liquidity of their own token, but also newly created DEXs looking to establish a base of liquidity providers for trading. Without this base, tokens would be untradable and the DEX would subsequently be rendered ineffective. Hence, the importance of implementing effective measures to foster the highest level of capital efficiency possible becomes clear, DEXs are seeking to overcome the cold-start problem with as little liquidity as possible whereby traders always face a positive experience. Elektrik is one such DEX looking to solve this problem, implementing effective capital efficiency measures to facilitate high volume trading from its inception. Incidentally, this necessitates the adoption of novel and creative mechanisms to attract LPs and manipulate liquidity so that it is always available where needed. While traditional DEXs, such as Uniswap, have taken strides in this regard, Elektrik represents a new wave of DeFi protocols that can achieve more with less liquidity. How Does Elektrik Work? Elektrik is a DEX protocol built on the Lightlink Network. In its first iteration, Elektrik V1, the DEX plans to implement itself as a fork of the revolutionary Uniswap V3 architecture. As a fork of Uniswap V3, Elektrik carries forward the proven AMM model, enhancing it with the unique capabilities and features of the Lightlink network. This AMM model allows users to trade directly with the smart contract on the platform. Users can also become LPs by depositing assets into the liquidity pools and earn fees from the trading activity. This design is intended to provide efficient and flexible trading opportunities for all users. The protocol is built on Lightlink, a layer 2 blockchain secured by Ethereum, purposefully built for Metaverse, NFT, and Gaming applications. By harnessing the power of the Lightlink network, Elektrik is able to offer an efficient and seamless trading experience for its users. Most importantly, Lightlink offers a unique feature referred to as ‘enterprise mode’ which allows organisations to pay a monthly fee, covering its users’ gas costs, to simplify users' experiences when transacting with ERC20 and ERC721 smart contracts, effectively bypassing native gas costs. This feature, combined with Lightlink's low transaction fees and high speed, provides Elektrik with a significant advantage over other DEXs built on more traditional blockchains. Elektrik's design as a Uniswap V3 fork also brings with it a number of benefits. For instance, Elektrik, like Uniswap V3, provides higher capital efficiency compared to its predecessors by allowing liquidity providers to provide liquidity in concentrated price ranges, which, for sophisticated and active LPs, can potentially lead to higher returns. Furthermore, Elektrik supports single-sided liquidity provisioning, enabling LPs to deposit only one type of asset in a trading pair, reducing the risks associated with price fluctuations. In terms of fee structure, Elektrik implements an adaptive fee structure that dynamically adjusts fees based on market conditions and liquidity utilisation. This is achieved through the introduction of multiple fee tiers for each pair: 0.05%, 0.30%, and 1.00%. These options allow LPs to adjust their margins based on the expected volatility of the pair. For example, LPs can choose to take on more risk with non-correlated pairs like ETH/DAI, or minimal risk with correlated pairs like USDC/DAI, and select the fee tier that best compensates them for this risk. This ensures competitive fees for users while maintaining incentives for liquidity providers. By adapting fees to market conditions, Elektrik aims to promote efficient market participation and attract liquidity. Moreover, Elektrik introduces enhanced capital efficiency by utilising multiple fee tiers within liquidity pools. Liquidity providers can allocate their funds to different fee tiers, optimising their capital allocation and earning potential. This feature encourages efficient capital deployment and enables liquidity providers to maximise their returns. Understanding Elektrik V2’s Liquidity Model Although Elektrik is initially being released via the aforementioned Uniswap V3 model, Elektrik V2 plans to implement an innovative AMM. The Elektrik V2 platform represents a significant advancement in the realm of decentralised exchanges, distinguished by its incorporation of abstracted AMM, Artificial Intelligence (AI), Reinforced Learning (RL), and dynamic smart contracts. Central to Elektrik's proposition is its commitment to capital efficiency, ensuring that liquidity is not merely present but is deployed judiciously for optimal trading outcomes. The Dynamic Liquidity Provision (DLP) mechanism is pivotal in this regard, meticulously adjusting liquidity with each block on the LightLink network to meet the precise requirements of liquidity providers. While Elektrik V1 allows for LPs to add liquidity to particular price ranges, Elektrik V2 harnesses the power of AI to anticipate and modulate liquidity in the inherently unpredictable cryptocurrency market. While conventional AI models may falter in such volatile environments, Elektrik's model is characterised by its dynamic adaptability. It undergoes continuous training on a diverse array of data, both internal to Elektrik and from external sources, ensuring its models remain contemporaneous and pertinent. This perpetual refinement is instrumental in ensuring that liquidity is judiciously allocated, responding adeptly to market fluctuations and safeguarding optimal trading conditions. The decision-making prowess of this AI is further enhanced by the principles of Reinforcement Learning (RL). To elaborate, RL operates on a paradigm wherein the system discerns optimal actions through a process of iterative trial and error. Within Elektrik's operational framework, RL assists in determining the most efficacious deployment of liquidity, harmonising the dual objectives of return maximisation and risk minimization. By synergizing dynamic AI with RL, Elektrik underscores its commitment to the judicious management of liquidity, thereby promising an unparalleled trading experience driven by precision and efficiency. Comparing Elektrik to the Competition Since 2021, the DEX landscape has been dominated by Uniswap V2-style DEXs, with many implementing the tried-and-tested x * y = k algorithm and spreading liquidity evenly across all price ranges. This can lead to inefficiencies, especially those associated with use of capital. If liquidity is dispersed across all price ranges, each pool will require a larger amount of liquidity to facilitate the same amount of volume. Consequently, more trading fees are dispersed to a greater number of parties and traders must be charged higher fees in order to provide LPs with the same level of yield. With the advent of Uniswap V3 in 2022, the DEX landscape has likewise undergone a subsequent evolution, with concentrated liquidity models becoming increasingly prevalent in DeFi. Nevertheless, these types of models often require manual rebalancing of liquidity or custom automated strategies by LPs, which can be relatively inefficient. Thus, even the relatively recent AMM models possess inherent flaws with regards to their management of idle liquidity that make them ineffective solutions when compared to next generation AMMs such as that implemented by Elektrik V2. Elektrik V2 and similar DEXs will offer far greater flexibility than their contemporaries. The greater capital efficiency facilitated by the continuous rebalancing and concentration of liquidity will allow protocols to handle high volume trading with relatively insignificant liquidity. Thus trading fees for users can be reduced and those which are earned can be dispersed between fewer LPs, providing incentives for the participation of users and LPs alike. Another key advantage of an automatic liquidity rebalancing model is the potential reduction in impermanent loss. Impermanent loss is a risk faced by LPs in traditional AMMs when the price of the assets in a pool diverges. By automatically adjusting liquidity to follow price movements, a DEX implementing this model can ensure that a LP’s liquidity is never concentrated in one side of a pool, mitigating the effects of impermanent loss. This means LPs are less likely to be holding the wrong asset when prices change, which can lead to more stable and predictable returns. Notably, this model does possess some inherent challenges, particularly associated with the potential incorporation of machine learning for liquidity rebalancing. After all, if the AI makes an incorrect judgment, then the actual price range will have less liquidity than if the prediction were correct. However it is important to note that any particular price range would never be completely devoid of liquidity due to the use of a price weighting model by the AI, which allocates liquidity to certain price ranges depending on the likelihood that the price will be achieved. Furthermore, the learning curve for LPs in actually understanding and grasping this system may pose some challenges to adoption. Nevertheless, these challenges can be solved via frequent rebalancing and user interface abstraction for a more seamless user experience. Conclusion The very definition of liquidity as the ability to quickly and effortlessly buy or sell assets, is the essence of a functional market, be it the financial markets at large or the intricate DeFi space. Its influence extends throughout history, where liquidity has ruled the dynamic and ever-evolving landscape of markets and as we have found, continues to influence the modern financial system - even in the context of DeFi. Therefore, it's evident that DeFi markets, such as Elektrik, which foster liquidity and allocate it efficiently, are likely to remain at the forefront of their respective industries. Therefore, it's evident that DeFi markets, such as Elektrik, which foster liquidity and allocate it efficiently, are likely to remain at the forefront of their respective industries. Consequently, as one of the principal determinants of market and asset success, liquidity, as championed by platforms such as Elektrik, will continue to drive innovation, incentivize adoption, and remain paramount in financial markets. 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.

Seoul, South Korea, August 30th, 2023, Chainwire It brings together the most sought-after builders, enterprises, thought leaders, and innovators to spark crucial conversations that shape the future of the industry FactBlock, a Web3 ecosystem accelerator and the organizer of KBW2023 along with the co-host Hashed, a prominent Web3 venture fund based in South Korea, are delighted to announce that delegates attending the 6th Edition of the Korea Blockchain Week will get to witness the most influential people in the industry sharing their learnings and insights on every aspect of crypto, Web3 infrastructure and beyond. It’s where the change makers shape the narratives and set the agenda for the future. This year’s impressive speaker lineup features more than 200 thought leaders and builders including Ethereum Co-founder Vitalik Buterin, Circle CEO Jeremy Allaire, Wemade CEO Henry Chang, Maelstrom CIO Arthur Hayes, Hashed CEO Simon Kim, BitGo Co-founder and CEO Mike Belshe, Polygon Co-founder Sandeep Nailwal, Line Next’s Business Director Woosuk Kim, and SkyBridge Capital’s Founder and Managing Partner Anthony Scaramucci. Seonik Jeon, CEO of FactBlock, said, “Established in 2018 to rectify information imbalances in blockchain and cryptocurrency, KBW now enters its sixth year. Evolving annually, we provide global crypto communities with insightful knowledge, networking, and entertainment. This year, in addition to featuring renowned speakers and diverse sessions to share insights at the Impact conference, we are launching a Web 3-based art and music festival. We anticipate all KBW 2023 participants will relish an immersive week-long engagement with shared knowledge, art, music, and culture in Korea.” Attendees will also have more opportunities than ever before for networking, collaboration, and discussion. As Asia’s most impactful blockchain event, the week-long conference will be a platform where blockchain builders from all over the world discover the future of Web3, and explore its impact on various industries and cultures. The conference will take place from September 4 to September 10, with the main event, KBW: Impact, running from September 5 to 6 at The Shilla Seoul. Simon Kim, CEO of Hashed, stated “KBW is establishing itself as a B2B platform that goes beyond mere conferences and events, generating practical multinational business collaboration opportunities. In this event, we can anticipate not only the participation of exceptional speakers as mentioned above but also the excitement of more than 150 diverse side events scheduled to take place.” With the rising technology, institutional fever, and mass adoption in focus, the organizers aim to make KBW2023 an idea lab rather than an echo chamber. It’s where builders, investors, legacy finance executives, policymakers, and crypto-curious newcomers flock to exchange ideas, collaborate, and find solutions to some of the thorniest challenges facing the industry. The biggest highlight of the upcoming conference will be KBW: IMPACT, the main 2-day event that brings together thought leaders and crypto-curious from around the world to spark discussions along the following core themes: Fundamentals– Dedicated to answering the fundamental questions of blockchain and crypto. Kingdom of Ethereum – Shining light on the future of Ethereum infrastructure and community. Oil the Wheels – Addressing subjects that make blockchain ecosystem and developers’ growth. Way to Billions – Analyzing the key challenges and contributors to mass adoption. What's on Chain – Showcasing and harnessing the power of on-chain data for research, analysis, DeFi, risk management, and more. Regional Taste – A look at how the unique strengths of markets like Korea, Japan, India and Southeast Asia are helping them embrace blockchain technology. Tech Unleashed – A deep dive into emerging trends and technologies such as zero knowledge, shared sequencing, orderbook DEXes, privacy, interoperability, and more. Digital Nation – Dedicated to exploring how blockchain technology will shape the social structures with DAOs, decentralized social graphs, and metaverse. Institutional Fever – Dedicated to the B2B side of blockchain, it would serve as a bridge between Web2 enterprises, financial conglomerates, and Web3 projects. Code in Law – To help the industry players understand the regulatory landscape. The week-long industry gathering will spotlight three main events, an official afterparty, and almost two hundred side events. Highlights include the two-day keystone conference "Impact" on September 5th and 6th; the two-day immersive digital art experience "The Gateway: Korea” with nft now on September 7th and 8th; and the two-day music festival "Micro Seoul: Seoulbound" as the official closing ceremony of KBW. Rounding off the week, "Beyond Seoul" will take center stage as the official KBW afterparty from September 7th to 10th, celebrating the intersection of technology, culture, and self-expression. With over a hundred registered side events, attendees can expect a week brimming with engagement and insight. About Korea Blockchain Week Korea Blockchain Week is the premier blockchain and cryptocurrency event in Asia, bringing together industry leaders, investors, and enthusiasts worldwide to discuss and explore the latest developments and trends. Organized by Factblock and co-hosted by Hashed, the conference features a series of speeches and panel discussions by the leading minds of the blockchain space, as well as a rich selection of side events and networking opportunities to foster collaboration within the Korean and global blockchain community. Buy Tickets Attend as Media Discover Sponsors Check out FAQ Contact Itai [email protected]

Circle CEO Jeremy Allaire has announced that its USDC stablecoin will launch natively on the Base Network next week. A New Home For USDC Circle CEO Jeremy Allaire has revealed that the USDC stablecoin will soon find its native home on the Base Network, with the launch scheduled for next week. Allaire's announcement via X (formerly known as Twitter) has set the stage for a significant shift in the crypto landscape, stirring up discussions about the implications of this strategic move. The Circle team also confirmed the news via a blog post and revealed that the USDC issued by Circle will be considered the official version of the stablecoin on the Base platform. Although the exact launch date has not yet been announced, the contract for the new token has already been deployed to Base. Making Do With USDbC The Base Network did not have a native version of the USD Coin when it was launched on August 9 by Coinbase. This prevented users from depositing cash into a Circle account and receiving equivalent USDC on Base. The USDbC token was introduced as a temporary solution to address this concern, where users could bridge USD Coins from Ethereum via an official bridge app. Thanks to the launch of the native USDC on the Base platform, users will no longer have to resort to bridging their tokens from Ethereum. Streamlining Liquidity Users and developers on the Base Network will highly benefit from this development, especially due to the expanded liquidity. A key aspect of this integration is the potential to phase out bridged USDbC liquidity, which currently flows from Ethereum. As the native USDC becomes more popular in the ecosystem, the network will be able to function more autonomously, where transactions and value transfers occur natively, eliminating the reliance on external bridges. This transition will introduce enhanced scalability, security, efficiency, and an overall streamlined process. The network will collaborate with ecosystem apps to ensure the transition from bridged to native USDC liquidity goes through without a hitch. Empowering Developers and Institutional Investors Beyond its impact on liquidity, the integration of native USDC will allow developers to harness stablecoin functionality for their decentralized apps (dApps). Additionally, institutional investors will also be able to facilitate the smooth fusion of fiat currency with crypto. Incidentally, concerns of disruption can be put to bed as the Coinbase team has revealed that the Base Bridge will remain unaffected by the integration and will continue functioning as normal. 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.

BJ Investment Holdings, the parent company of the Hit Network that controls BitBoy Crypto, has announced that it has severed ties with YouTuber and Influencer Ben Armstrong. The company made the announcement on X and made several strong allegations attacking the crypto influencer’s character. A Parting Of Ways The announcement about the removal of Ben Armstrong was confirmed on X by BitBoy Crypto. According to the announcement, BJ Investment Holdings took decisive legal action to Remove Ben from the company and, more specifically, the BitBoy Crypto Brand. “Yesterday, BJ Investment Holdings, the parent company of Hit network, took decisive legal action in removing Ben Armstrong from the company, and specifically the Bitboy Crypto brand.” The reasons were revealed in a longer and more detailed YouTube announcement. According to a company spokesperson, the decision was made after several efforts to assist Ben Armstrong “during his relapse into substance abuse.” The spokesperson also expressed regret at the end of the business relationship between the company and Armstrong. The firm had earlier claimed that Armstrong had inflicted considerable emotional, physical, and financial damage on people in the space and on Hit employees. While the allegations include serious and personal allegations against Armstrong, the influencer has not spoken out or confirmed them himself. However, the BenCoin account on X responded to the news in a post that it claimed was written by Armstrong. However, it is still being determined as of now if Armstrong, indeed, was the one who wrote the message. “This is Ben. TJ Shedd & Justin Williams have attempted a coup at my company. Just confirming what is going around. It’s true. There has been a mutiny at BitBoy Crypto & Hit Network. But it won’t work. They have no leverage. Until they can clone me, I have nothing to worry about.” Possible Reasons? The announcement by BitBoy Crypto did not elaborate or point to any specific incidents that could have contributed to the end of its business relationship with Armstrong. However, the YouTuber and crypto influencer was involved in a class-action lawsuit after investors claimed that he and other influencers promoted the now-bankrupt FTX exchange without revealing compensation from the exchange. Court filings also suggested that Armstrong issued several threats against lawyers who were representing the plaintiffs. He had also openly mocked a federal judge’s authority by failing to appear in court as ordered. The case was stayed on the 16th of June. Armstrong also insulted several high-profile figures using his platforms, with over 1 million subscribers on X and YouTube. These figures included Christine Lagarde, the president of the European Central Bank, and Gary Gensler, the United States Securities and Exchange Commission (SEC) Chair. He had also filed a defamation suit against YouTuber Erling Mengshoel Jr, also called “Atozy.” However, he later dropped the case after Atozy managed to raise around $200,000 for his defense. Social Media Users React Many users on YouTube and X reacted in support of Armstrong following the announcement on X. They also expressed some concerns about the future of the BitBoy Crypto brand, given Armstrong was its most popular and recognizable face. One user on X stated, “I remember when I first got into crypto... I was still trading on Coinbase, I listened to bitboy tell me what coins to buy, and my charts were so full of indicators I could hardly see the candlesticks. It’s crazy how fast things can change in three days.” Many users on the YouTube livestream were unhappy with Armstrong’s removal, with many demanding the host’s return. However, the mood on Reddit was in stark contrast with that on the YouTube live stream, with many users cheering the news. It is also unclear if any of Armstrong’s previous legal problems led to the company parting ways with him. Authorities have been targeting crypto influencers globally for promoting fraudulent projects following the collapse of FTX. 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.

[PRESS RELEASE – HCMC, Vietnam, August 28th, 2023] Staynex has officially announced its collaboration with the highly acclaimed Miss Grand International in Vietnam. Spanning across major cities, this event promises to be an exhilarating fusion of culture, beauty, and hospitality. “Established based on the goal of ‘elevating the travel-resort experience’, Staynex hopes that collaborating with […]

The venture firm has introduced its crypto fund for Web3 infrastructure and applications, promising a collaborative approach with startup founders.