Flow(FLOW)

The data may reflect investors’ need for liquidity during the banking crisis, a CoinShares report says.

The recent collapse of three high-profile banks - Silicon Valley Bank, Silvergate Bank and Signature Bank - has caused worrying outflows at hundreds of regional banks. Now, with the U.S. Federal Reserve creating a new backstop facility reportedly worth $2 trillion and Switzerland’s central bank bailing out Credit Suisse to the tune of $54 billion, the echoes of prior crisis in 2008 and 2013 are loud.

Late on March 15th, Poolz Finance experienced a hack, with attackers exploiting a vulnerability in the arithmetic overflow of the platform. Upon discovery, the Poolz team leaped into action, rapidly disabling the point of entry and mitigating the worst of the effects. Due to the speedy response of Poolz, the hacker’s address was frozen, preventing further damages from occurring within the ecosystem. As little as 10 hours after the exploit was discovered, the Poolz management team had already planned out response systems, comprehensive compensation packages for their users, and a future roadmap. Thanks to the security and management team at Poolz, the event was not nearly as impactful as it could have been. The founder of Poolz, Liam Cohen, stated “We're proud of our team's swift and effective response to the cyber attack on our platform. Our top priority is our community, and we're committed to providing them with a secure and reliable platform for decentralized finance.” Let’s dive into the full story. What Happened? According to PeckShield, a blockchain security and data analytics company, the hack was caused due to an arithmetic overflow issue. The exploit was first discovered when the same sender repeatedly sent an identical transaction pattern in the token vesting smart contract. This allowed the hacker to extract tokens that were already allocated to public buyers. They could siphon off cryptocurrency into their accounts, then converting them to BNB and moving them out of the system. The Poolz ecosystem was heavily impacted by this, with the hacker making off with around $390,000 USD equivalent from their exploits. As this became public knowledge, the native token of Poolz - POOLZ - dropped more than 95%. How Poolz Stopped the Exploit Within two hours of the attack, Poolz was already in action defending their ecosystem. They had flagged the hacker’s address across the world’s leading blockchain explorers, preventing them from taking further action. On a wider scale, they also removed the remaining liquidity from both Sancakeswap and Uniswap in order to protect their community. This was in order to prevent further trading and buying, alongside arbitrage attempts. Over the next few hours, Poolz moved through a number of steps to lessen the impact of the exploit: Complete Freeze - All POOLz tokens porting on the ChainPort.io bridge were frozen. CMC Communications - Poolz got in contact and submitted their report to CMC, which was then approved. Flash Funding - Poolz released a flash fundraiser to help them with building a new system with strengthened security foundations. This raised over $600,000 USD in 12 hours. Thanks to the quick reaction of the Poolz team, the exploit was neutralized in a timely manner, preventing further consequences to the wider ecosystem. Building Back Better Following the event, Poolz has also released documentation and strategy planning for a new token within their ecosystem. The Poolz team rapidly began planning a new token for the platform, POOLX, which is now under audit by ChainPort Certik, and ArcadiaGroup. The platform is currently planning out a compensation model to ensure that their community is rewarded for their patience and support during this time. At present, Poolz has the full support of their community, with many being extremely impressed by the response that this ecosystem has lead with. Reflecting on the event, Cohen has stated, “While this event was a setback, we are confident that we will emerge from it stronger. Our new token, POOLX, is currently under audit by industry leaders and will provide a more secure and reliable future for our community and customers.” Beyond this, he comments on the devotion of the Poolz ecosystem to their community, We're proud of our team's swift and effective response to the cyber attack on our platform. Our top priority is our community, and we're committed to providing them with a secure and reliable platform for decentralized finance. Despite this setback, we'll come out stronger with our new token, POOLX, which is currently undergoing an audit. Our treasury is unaffected, and we remain financially stable. We're dedicated to our community and DeFi and we thank you for your support. Final Thoughts Despite a challenging 24 hours, the reaction and rapid crisis management that Poolz has displayed curtailed the impacts of this security event. While the original native token has devalued, the steadfast plans that Poolz have issued in terms of the new native token will allow the ecosystem to bounce back effectively. Across the impressive response from Poolz, the community support, and the backing of further investment, this is a wonderful example of the world of blockchain rallying behind an ecosystem. Luckily, this hack was far from the end of Poolz. 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.

While deposit outflows at First Republic have somewhat stabilized, the bank has opted to suspend dividend payments to shareholders as it recovers.

Billions worth of loans and payments flowed from FTX entities to Sam Bankman-Fried and five other former executives of FTX and Alameda Research.

The crypto market has been steadily on the rise, with plenty of coins showing an increase in value and trading volume. Analysts slowly reveal more confidence in coins such as Polkadot(DOT) and VeChain (VET). However, one project has full attention due to its real-world utility and growth potential - Orbeon Protocol (ORBN)! Currently, in Stage 10 of its presale, Orbeon Protocol (ORBN) is viewed by many as the next significant crypto asset. Let&rsquo;s see why! >>BUY ORBEON TOKENS HERE>BUY ORBEON TOKENS HERE>BUY ORBEON TOKENS HERE<< VeChain (VET) VeChain (VET) uses blockchain technology to trace the flow of goods and their validity to increase supply chain accountability and effectiveness. Holding the VeChain (VET) token can bring you governance and be used to pay transaction fees on the network. Recently, VeChain (VET) issued a new whitepaper for VET 3.0 with a particular focus on sustainability. The whitepaper states that VeChain (VET) would launch programs to give people the knowledge they need to get involved in the sustainability journey. Currently, VeChain (VET) is valued at $0.02002, a decrease of 9% in the past day alone. On a positive note, the VeChain (VET) trading volume increased by 69% in that same period. With VeChain (VET) having a good roadmap for its future, some analysts believe it will see a short-term price increase, but a $1 valuation may not come anytime soon. Find Out More About The Orbeon Protocol Presale Website: https://orbeonprotocol.com/ Presale: https://presale.orbeonprotocol.com/register 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.

On 10 February, 2023, the European Union published an exciting, but incredibly complicatedly named document, specifically The Common Union Toolbox for a Coordinated Approach Towards a European Digital Identity Framework: The European Digital Identity Wallet Architecture and Reference Framework, or ARF. We will dive into this document and what it means for Europe and for Dusk Network here, and to keep things brief, will follow the EU&rsquo;s own suggested abbreviations for this document: EUDI and ARF. What is EUDI? The concept of a European Digital Identity (EUDI) has been brewing for a while now. All the way back on the 3rd of June 2021, the European Commission announced its intention to lead the way in making this product available to all European citizens. Now, almost two years later, the EU is ready to start moving on to the piloting phase. But piloting what? In effect, EUDI is a form of identification that can be used by any citizen of any European Union member state, by any company operating in the European Union, and accepted by any business or government agency in the European Union. Rather than replacing pre-existing identity mechanisms (i.e. national ID cards), EUDI sits alongside those as an auxiliary digitized identity system. For example, a bank in the Netherlands would continue to accept the Dutch identity card for new account openings, but would also accept EUDI for non-Dutch residents, meaning that they would only need to support two forms of identity verification. This is a step forward from banks&rsquo; current options to either learn how to support a plethora of identity certificates OR to restrict services to only people with Dutch IDs. EUDI would not be limited, however, only by the services that a member state&rsquo;s identity card is used for, but rather would also extend to any interaction where attributes about a person need to be proven. The use cases that the EU itself identified are far and wide, including: Secure and trusted identification to access online services Mobility and digital driving license Professional business certifications Paying for things where different prices occur, such as toll roads Health records such as patent summaries, or ePrescriptions Educational credentials and professional qualifications Digital Finance products Digital Travel Credentials (such as passports and visas) Currently, proving identity and credentials in the European Union is confusing and prone to errors. In fact, a huge number of different certifications are needed for whatever it is that a citizen is trying to do, which also differ in number and style from member state to member state. True to the European mission to harmonize all member states into a single trade and travel area, they wish to solve this problem with one single EUDI for all. What is ARF? ARF is a recent document that marks the beginning of the EUDI pilot phase. It is essentially a checklist for each member state to agree upon and harmonize before piloting can commence. This includes: Defining roles and responsibilities of every player in the EUDI process. Outlining functional and non-functional requirements of the EUDI Wallet. Identifying potential building blocks. Since each member state&rsquo;s implementation of EUDI needs to be interoperable with all the others, it is critical that everyone starts by building on the same set of standards and using consistent terminology. This is important when it comes to specifics like certifying the validity of an ID or document. For example, if a certificate has an expiry date, it should automatically become invalid on or after that date. But should the issuer also have the ability to revoke the certificate at any point before the certificate naturally expires? And if something is valid &lsquo;until it is revoked&rsquo;, does it need an expiry date just in case? The ARF sets guidelines for how all these things should be set up, how the information would flow between the parties involved, and who should have access to what. This is crucial, given that multiple parties are involved in even a simple transaction like issuing a discount rail ticket to a student. In this example, the parties include: The student. The railway operator. The university (which verifies the student&rsquo;s status). A national student body (who may also have to verify the student). The operator of the railway station (if different from the operator). The train ticket website that sold the ticket. As you can see, even a seemingly simple transaction like purchasing a train ticket for a student can involve up to six different parties. Can you imagine what kind of complexity might be involved in dealing with sophisticated financial instruments? Why does Dusk Network welcome this? At Dusk Network we believe that the ARF specifications are an important step towards improving privacy and security in the EUDI process: two of our main priorities. The above (fairly simple) example of a student purchasing a train ticket highlights the need for selective disclosures. They would allow individuals to share only the necessary information, while simultaneously making unsafe practices like sharing copies of IDs or requiring personal data completely obsolete. You can think of selective disclosures like showing someone your driving license, but with your fingers covering all the information except your photo, since that is all that is really needed. Data leaks are becoming increasingly more common in society, and we at Dusk are alarmed that even the simplest of transactions carry a big potential for data leakage. The easiest way to protect users and organizations is to either store data in a secure encrypted format or to not get any exposure to it. To address this concern, the ARF specifications point to a EUDI that must-have features such as certificate issuance and revocation, encryption, secure transfer of identity and other personal information, and a range of selective disclosure options. That sounds a little familiar, doesn&rsquo;t it? Why use Citadel for EUDI? Citadel is Dusk&rsquo;s privacy-preserving digital identity solution that allows for privacy, compliance, decentralization, and a one-and-done approach to KYC. As such it would be a great choice for EUDI for multiple reasons, but mostly for privacy, compliance, and efficiency. Privacy is a key concern for everyone involved in the EUDI process. Citadel is built using zero-knowledge proofs (ZKPs), which means that private data does not need to be revealed in order to confirm that a person has legitimate access to a service, is authorized to enter a country, or has a legitimate right to be somewhere. This approach to privacy and identity is new and revolutionary and allows for a solution that preserves privacy while still providing secure identity verification. In that sense, it goes above and beyond the EUDI&rsquo;s current ambition of issuing a digital version of what already exists. ZKPs have the power to prove that something is true without any other disclosure and in the case of the EUDI, that would translate into giving people the power to prove eligibility without having to share their identity. Whether they enter a country, open a bank account, or even access a service, Citadel would ensure that their data remains private as well as dramatically reducing any chance of hackers&rsquo; attacks. Compliance is another advantage that Citadel offers, specifically programmable compliance. The EU can program its regulations into Citadel itself, which not only ensures compliance but it also makes it easier to update the regulations as things change. For example, during Brexit, Citadel as the EUDI could have been used to update the system and change what was and wasn&rsquo;t allowed, making it simpler to maintain compliance. Presumably, UK citizens&rsquo; EUDIs would have been made invalid. Finally, efficiency is a crucial advantage of Citadel. Unlike traditional systems that require extensive data storage and compliance departments, Citadel eliminates the need for these costs. With Citadel, there would be no need to maintain redundant copies of databases storing the digital identities of approximately 450 million people, alongside entire legal, compliance, and cybersecurity departments. Only proof of eligibility would be transmitted, while data would not. If there is nothing to hack, there&rsquo;s no need for all this overhead. In conclusion, Citadel has the potential to provide both the EU and its citizens with the privacy, programmable compliance, and efficiency that they need to make digital identities a success. Thanks to its use of zero-knowledge cryptography and programmable compliance, Citadel offers a new approach to digital identity that is both secure and efficient and has the potential to revolutionize the way we approach identity verification. 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.

Russian banks may currently be cut off from the SWIFT international payments network. But, despite wide-ranging international sanctions against the Kremlin, money keeps flowing between Russia and the West, and a range of brokers are ready to turn Russian rubles into foreign currency abroad, in cash.

The IMF warned the G20 nations that the widespread use of crypto assets could impact banks significantly. The International Monetary Fund (IMF) warned the Group of 20 (G20) nations that the widespread use of crypto assets could result in banks losings deposits and may impact lending. In a report issued to the G20 in February but only made public on March 13, the IMF says: A widespread proliferation of crypto assets comes with substantial risks to the effectiveness of monetary policy, exchange rate management, and capital flow management measures, as well as to fiscal sustainability. Moreover, changes may be required to central bank reserve holdings, and the global financial safety net, yielding potential instability. Finally, banks may lose deposits and have to curtail lending. The &ldquo;Macrofinancial Implication of Crypto Assets&rdquo; was made public just days after the collapse of three crypto-friendly banks: Signature Bank, Silicon Valley Bank (SVB) and Silvergate Bank. In the report, the IMF argues that the benefits of crypto assets currently being touted, such as faster and more cost-effective cross-border payments, more integrated financial markets and increased financial inclusion, have yet to be realized. Further, the IMF says that while the benefits of crypto have yet to be seen, the widespread adoption of crypto assets threatens the effectiveness of monetary policies. CoinDesk reports that the paper was produced after &ldquo;very helpful discussions with the Indian Ministry of Finance, as well as international focus group participants&rdquo; and contributed to the G20&rsquo;s decision to establish a global crypto framework which has yet to be created. G20 Outcome: FSB, IMF, and BIS to Provide Global Crypto Framework Following meetings of the G20, the Group of the world&rsquo;s 20 biggest economies, issued a document stating the Financial Stability Board, the IMF, and the Bank for International Settlements would release reports and recommendations for establishing standards for a global crypto regulatory framework. The FSB will offer guidance on regulating, supervising, and overseeing global stablecoins and crypto asset activities. The FSB and IMF will jointly submit &ldquo;a synthesis paper integrating the macroeconomic and regulatory perspectives of crypto assets.&rdquo; The IMF will independently report on the &ldquo;potential macro-financial implications of the widespread adoption&rdquo; of central bank digital currencies. 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.

Amid a U.S. banking crisis, value is flowing into bitcoin. Is this the beginning of the “Great Reset”? investor and author Tatiana Koffman asks.

The outflows rose for a fifth consecutive week and come amid rising uncertainty about the future of digital assets.

Fear and trepidation spread across the crypto market last week following the high-profile collapses of Silvergate Bank and Silicon Valley Bank.

According to an announcement by the Federal Reserve, New York-based Signature Bank, which had several clients in the cryptocurrency space, was shut down by state regulators. Signature Bank Shut Down New York State financial regulators on Sunday shut down Signature Bank. The move comes as the fallout from the implosion of SVB Financial Group&rsquo;s Silicon Valley Bank threatens to start a domino effect. According to regulatory authorities, depositors of the New York-based banks would be able to access their funds under a &ldquo;very similar systemic risk exception&rdquo; to that of Silicon Valley Bank, according to a joint statement by the Treasury Department, the Federal Reserve, and the Federal Insurance Deposit Corp. The statement stated, &ldquo;We are also announcing a similar systemic risk exception for Signature Bank, New York, New York, which was closed today by its state chartering authority. All depositors of this institution will be made whole. As with the resolution of Silicon Valley Bank, no losses will be borne by the taxpayer.&rdquo; The joint statement also outlined several actions that federal regulators would be undertaking to ensure the protection of depositors in SVB. &ldquo;Signature Bank is a New York state-chartered commercial bank and is FDIC-insured, with total assets of approximately $110.36 billion and total deposits of approximately $88.59 billion as of December 31, 2022. DFS is in close contact with all regulated entities in light of market events, monitoring market trends and collaborating closely with other state and federal regulators to protect consumers, ensure the health of the entities we regulate, and preserve the stability of the global financial system.&rdquo; An Unexpected Decision The decision by regulatory authorities to put Signature Bank into receivership came as a surprise to many, most of all to its managers, who, according to sources, found out about the decision just before the public announcement. As a result of the announcement, the bank faced a barrage of deposit outflows on Friday. However, the situation seemed to stabilize over the weekend, according to a person familiar with the matter. Silicon Valley Bank Contagion Spreading? Silicon Valley Bank&rsquo;s abrupt failure on Friday saw the bank unravel in less than 48 hours after announcing a plan to shore up capital in its support. SVB had taken a significant loss on the sale of its securities against the backdrop of soaring interest rates. As a result, worried depositors began pulling their money from the bank, with $42 billion withdrawn on Thursday alone. As a result, regulators are struggling to find a way to stop the SVB contagion from spreading to other lenders. Treasury Secretary Janet Yellen stated that she had approved a resolution for SVB that would protect all depositors. As the concern for the health of smaller banks focused on the startup and venture capital communities grows, regulators are considering extraordinary measures to protect depositors and financial institutions. Signature Was Looking To Reduce Crypto Exposure Signature Bank first came under scrutiny during the collapse of the FTX exchange, as it emerged that the exchange held accounts with the bank. Signature Bank stated at the time that these accounts represented less than 0.1% of its overall deposits. The bank also stated that it was planning to shed around $10 billion in deposits from digital assets clients. This would bring down its crypto-related deposits to around 15-20% of its total. Another bank hit by the FTX debacle was Silvergate, which as a result, lost all its depositors and business partners. As a result, the bank announced that it was shutting down its operations just days before the seizure of Silicon Valley Bank. 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.

[PR – Taipei, Taiwan, 13th March, 2023, Chainwire] Bloxmith, the player-first Web3 gaming studio, today announced that the open beta for Raiders Rumble, its unique 1v1 squad battler game for mobile powered by the Flow blockchain, is now available for download on Google Play and Apple App Store. Raiders Rumble challenges players to apply fast-paced […]

Taipei, Taiwan, 13th March, 2023, ChainwireBloxmith, the player-first Web3 gaming studio, today announced that the open beta for Raiders Rumble, its unique 1v1 squad battler game for mobile powered by the Flow blockchain, is now available for download on Google Play and Apple App Store. Raiders Rumble challenges players to apply fast-paced strategic decision making in countering the moves of their opponents. Built as a strategic esports game for the masses, it features a daily rotation of tournament modes where the top 50 percent of participants can win in-game items or RUMB tokens, Raiders Rumble&rsquo;s project token. Furthermore, players do not need a crypto wallet or digital collectibles (NFTs) to start playing and enjoying the game. To maintain competitive integrity, digital collectibles in Raiders Rumble do not provide any in-battle advantage, though they have several other unique features that make them highly valued by collectors. &ldquo;For our first game, we wanted to pioneer a new type of competitive mobile strategy game that would help bridge the gap between traditional and Web3 gamers,&rdquo; said Bloxmith Co-founder and CEO Wayne Lee. &ldquo;We are delighted to be working on the Flow blockchain &ndash; it solves the scalability problem for games and digital collectibles. With frictionless onboarding, social logins and familiar payment methods, Flow is built from the ground up to make it easier for mainstream users and brands to transition from Web2 to Web3.&rdquo; As part of the launch and esports nature of the game, Raiders Rumble will host three Flow-sponsored bonus tournaments. Strategy gamers will have the opportunity to win FLOW tokens, with a total prize pool worth $USD 120,000 in FLOW up for grabs for the best strategy gamers around. These Flow-sponsored tournaments are scheduled to take place between March 23-31, with more details on the Raiders Rumble website here. &ldquo;Raiders Rumble is a compelling example of a mobile game that can simultaneously appeal to a mainstream audience while introducing them to the power of Web3 gaming powered by Flow,&rdquo; said Chirag Narang, Head of Product at Flow. &ldquo;The Bloxmith team&rsquo;s innovative take on game design and player onboarding aligns strongly with Flow&rsquo;s vision and goals for our ecosystem around gaming and onboarding mainstream users to Web3.&rdquo; About Bloxmith Founded in December 2021 by a group of passionate gaming veterans from Riot Games, Blizzard Entertainment, Pumpkin VR and Facebook Gaming, Bloxmith&rsquo;s mission is to create player-first games that are still fun even after 1000+ plays. Bloxmith&rsquo;s investors include Infinity Ventures Crypto, Dapper Labs, Vayala, Moon Holdings, Bitoro, SEA Pixel, and Results.io. For more information, visit: Website | Twitter | LinkedIn | Discord About Flow Flow is a decentralized layer one blockchain designed for onboarding mainstream consumers. Frictionless, secure and eco-friendly, Flow empowers developers to innovate and push the limits that will bring the next billion to Web3. Today, Flow is home to a thriving ecosystem of creators from top brands, development studios, venture-backed startups, crypto leaders, and more. For more information, visit www.flow.comContactDeon [email protected]

The issuer of the second-largest stablecoin Circle has stated that it held an undisclosed portion of its $9.8 billion cash reserves at the failed Silicon Valley Bank as of 17th January 2023. Circle Still Has $3.3 Billion Held Up At SVB According to Circle&rsquo;s latest attestation, the US-based stablecoin issuer holds a part of the USDC&rsquo;s cash reserves at Silicon Valley Bank. USDC has a circulating supply of around $43 billion, fully backed by government bonds and cash-like assets. According to the company&rsquo;s January reserve report, the firm held nearly $10 billion in cash at various regulated banks to shore up USDC&rsquo;s value. On 10th March, cash deposits in its reserves stood at $11.1 billion, according to its website. USDC&rsquo;s banking partners included Silicon Valley Bank, Citizens Trust Bank, Bank of New York Mellon, Customers Bank, New York Community Bank, Signature Bank, and Silvergate Bank. Circle also holds a part of its reserves in a dedicated BlackRock fund. USDC Concerns Concerns around USDC have been growing recently after it emerged in Circle&rsquo;s latest audit that as of 31st January 2023, $8.6 billion, around 20% of its reserves, were held up at various financial institutions. These include the recently bankrupt Silvergate and now shuttered Silicon Valley Bank. However, Circle had stated last week that it had cut all ties with Silvergate bank. In an attempt to assuage fears and provide transparency, Circle stated that it had initiated wire transfers on Thursday to remove balances from SVB. However, these were not yet processed, leaving around $3.3 billion of its reserves stuck at the bank. Circle tweeted, stating, &ldquo;Following the confirmation at the end of today that the wires initiated on Thursday to remove balances were not yet processed, $3.3 billion of the ~$40 billion of USDC reserves remain at SVB.&rdquo; USDC Conversions Paused Piling on further misery on Circle, shortly after the USDC issuer&rsquo;s announcement, Coinbase stated that it is temporarily pausing USDC:USD conversions over the weekend. The exchange released a statement on Twitter, stating, &ldquo;We are temporarily pausing USDC:USD conversions over the weekend while banks are closed. During periods of heightened activity, conversions rely on USD transfers from the banks that clear during normal banking hours. When banks open on Monday, we plan to re-commence conversions.&rdquo; A little later, Binance also stated that it was temporarily suspending the conversion of USDC to BUSD due to &ldquo;ongoing market conditions&rdquo; related to high inflows and difficulty in supporting the conversion. However, the exchange called it a routine risk management step. &ldquo;Binance has temporarily suspended auto-conversion of USDC to BUSD due to current market conditions, specifically related to high inflows & the increasing burden to support the conversion. This is a normal risk-management procedural step to take while we monitor the situation.&rdquo; Clamor For Continuity Grows Circle also joined calls by other depositors and customers of SVB for the bank&rsquo;s continuity, stating that it is important for the larger U.S. economy. The firm also stated that it would be following the guidance provided by state and federal regulators. &ldquo;Like other customers and depositors who relied on SVB for banking services, Circle joins calls for continuity of this important bank in the U.S. economy and will follow the guidance provided by state and Federal regulators.&rdquo; Further adding to this statement, Circle&rsquo;s Chief Strategy Officer and head of global policy, Dante Disparte, stated, &ldquo;@circle is currently protecting #USDC from a black swan failure in the U.S. banking system. @SVB_Financial is a critical bank in the U.S. economy, and its failure - without a Federal rescue plan - will have broader implications for business, banking, and entrepreneurs. We join the calls from policymakers, regulators, investors, businesses, and, most of all, people who rely on a well-functioning U.S. banking system as a condition precedent of a growing economy.&rdquo; 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.

In Todays Headline TV CryptoDaily News: Vitalik Buterin dumps altcoins that have "no moral value." Vitalik Buterin, a co-founder of the Ethereum blockchain, liquidated a portion of his altcoin holdings this week, worth 220 ether, saying later that the tokens had "no cultural or moral value." Silvergate Bank announces 'wind down' to liquidate assets. One of the few major banks to support the cryptocurrency industry is winding down operations to begin the process of voluntary liquidation. Silvergate Capital Corporation, the holding company for the California-based Silvergate Bank, announced it would be shutting down the bank. CFTC chair calls Ethereum a commodity. Chairman of the Commodities and Futures Trading Commission Rostin Behnam has called Ethereum a commodity and not a security, in apparent contrast to SEC Chairman Gary Gensler who has consistently argued that every cryptocurrency other than Bitcoin falls under securities laws. BTC/USD dove 6.2% in the last session. The Bitcoin-Dollar pair dove 6.2% in the last session. According to the CCI, we are in an oversold market. Support is at 21209.3333 and resistance at 22537.3333. The CCI points to an oversold market. ETH/USD dove 6.0% in the last session. The Ethereum-Dollar pair dove 6.0% in the last session. The Ultimate Oscillator is giving a negative signal, which matches our overall technical analysis. Support is at 1506.3333 and resistance at 1583.0133. The Ultimate Oscillator is currently in the negative zone. XRP/USD dove 4.7% in the last session. The Ripple-Dollar pair fell 4.7% in the last session after gaining as much as 2.1% during the session. The RSI's negative signal is in line with the overall technical analysis. Support is at 0.3591 and resistance at 0.4157. The RSI is giving a negative signal. LTC/USD plummeted 8.2% in the last session. The Litecoin-Dollar pair dove 8.2% in the last session. The CCI indicates an oversold market. Support is at 78.7533 and resistance at 88.6533. The CCI is signalling an oversold market. Daily Economic Calendar: JP BoJ Monetary Policy Statement The Monetary Policy Statement is released by the Policy Board of the Bank of Japan. The statement gives clues for future changes in monetary policy. Japan's BoJ Monetary Policy Statement will be released at 03:00 GMT, Japan's BoJ Interest Rate Decision at 03:00 GMT, Finland's Current Account at 06:00 GMT. JP BoJ Interest Rate Decision The BoJ Interest Rate Decision is announced by the Bank of Japan. The interest rates are a key mechanism through which the central bank influences inflation. FI Current Account The Current Account measures net flow of current transactions, including goods, services and interest payments into and out of the local economy. US Nonfarm Payrolls The Nonfarm Payrolls presents the number of new jobs created during the previous month excluding the agricultural sector. The US Nonfarm Payrolls will be released at 13:30 GMT, the UK's Industrial Production at 07:00 GMT, Finland's Industrial Output at 06:00 GMT. UK Industrial Production Industry is a basic category of business activity. Changes in the volume of the physical output of the nation's factories, mines and utilities are measured by the index of the industrial production. FI Industrial Output The Industrial Output shows the volume of production of industries, i.e., factories and manufacturing. 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.

Singapore, Singapore, 10th March, 2023, ChainwireHuobi has announced a $100 million Liquidity Fund with the aim of enhancing currency liquidity across several markets. The purpose of this action is to reinforce the seamless flow of liquid assets through the Huobi platform. By allocating these funds, Huobi intends to improve cross-border transactions involving diverse digital tokens or fiat currencies worldwide by promoting greater fluidity. As a crucial goal for this initiative, traders will benefit from easier access to funds as they engage frequently in buying and selling activities on exchanges. Huobi has put together a plan to create a liquidity fund that will see $100 million US dollars deposited in order to improve the platform's liquidity capabilities. The announcement was made following some market turbulence caused by leveraged liquidations initiated by only a handful of users on the platform recently. H.E. Justin Sun expressed regret over the consequences resulting from a handful of users' leveraged liquidation on the market. Furthermore, Sun pledged to enhance liquidity depth for key cryptocurrencies and HT tokens while bolstering leverage risk alerts and capacity for available funds in an effort to reassure clients who rely on them. In recognition of its responsibility towards investors, Huobi has deposited $100 million USD as additional funding support through a new liquidity fund initiative. The spot and HT contract markets experienced a series of forced liquidations that resulted in recent market fluctuations. A few users triggered this cascade, which caused leveraged liquidations to occur as well. Despite these events, there is no need for concern about the safety of Huobi exchange's operations or wallets since they remain secure. Furthermore, all work continues at an even pace without any unexpected incidents occurring thus far. This clearly shows how the current fluctuations are just part of normal market behavior patterns. Huobi is making strides in enhancing their platform and user experience with a fresh liquidity fund. The objective of this investment will be to heighten the multi-currency liquidity on offer, ultimately improving ease-of-access for traders across global markets. This strategic move promises advantageous positioning within Huobi&rsquo;s competitive cryptocurrency exchange market sector as well. Sun expressed empathy towards Huobi users, acknowledging that the turbulent market changes have induced stress among them. This announcement is a promise to undertake measures aimed at mitigating these fears for their benefit. Additionally, Sun reassured the community of his resolve in keeping up with all developments regarding this issue, and will provide regular updates on any progress made moving forward. Huobi is dedicated to ensuring their platform is secure and dependable for those engaging in cryptocurrency trades. Huobi will bear all leverage-through position losses on the platform resulting from this market volatility event of HT token. Huobi&rsquo;s efforts towards enhancing the user experience are ongoing, with continuous strides taken towards improving the functioning of the platform. With additional support from their liquidity fund, Huobi looks forward to providing even more significant benefits while fortifying its presence as an esteemed hub for cryptocurrency exchange activities. Sun expressed his confidence in the actions being taken to enhance user experience and establish a safer, dependable cryptocurrency trading platform. He believes that these measures will result in more satisfied users who can trust the Huobi platform with ease. About Huobi Founded in 2013, Huobi has evolved from a crypto exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, wallets, research, investments, incubation and other areas. Huobi serves millions of users across international markets. Please refer to Huobi's official website for more information: www.huobi.com ContactMichael [email protected]

In the early days of the internet, the world wide web was a wild west of information, with centralised institutions controlling both the flow of data and how online experiences should play out. As internet technology has advanced, so too has our ability to decentralise and democratise the web, often to great advantage. Today, terms like Web3, Metaverse, Decentralisation, Democratisation, and Virtual Worlds are on everyone's lips as we explore the possibilities of a more equitable, immersive, and fairly-distributed digital world. Now, blockchains, dApps, NFTs and Metaverses are at the forefront of this movement, creating new spaces for us to explore, collaborate, and create in ways that were previously impossible. These digital playgrounds are not only part of the solution, but they are where like-minded thinkers unite to map out the next wave of ideas. &ldquo;Web3&rdquo;, &ldquo;Decentralisation&rdquo;, and &ldquo;Metaverse&rdquo; are more than just buzzwords - they're the building blocks of a newly democratised digital world. The Key to Decentralising & Democratising Virtual Worlds In decentralised virtual worlds, governance is often handled by the community itself, rather than a central authority. This is done smoothly through a combination of apps like Telegram, Discord, Signal, and the use of the Decentralised Autonomous Organisation (DAO). This means that players have more say in how the world is run, from the game's rules to the distribution of rewards. By giving players a voice, developers can create more engaging and inclusive experiences, while DAO governance motivates the players to become crucial to the evolution of the metaverses they use, through voting power and reward models. Another key aspect of decentralisation, and one that draws in huge numbers of players, is the ability to earn real-world value from their in-game activity. With the rise of play-to-earn (P2E) mechanics, players can earn cryptocurrency or other digital assets by participating in the in-game economy. This has the potential to create more equitable and sustainable virtual economies, where players are rewarded for their contributions to the community, paving the way for digital meritocracies. It also helps to create players or users who are engaged for the long term, driving them to become champions of the game and stakeholders in its success. Where Else Can We Find Models of Democratisation in the Metaverse? Governance and earning are the primary methods, but making games more inclusive, engaging, and fair, is not as simple as that. Developers must immerse themselves deeper into user psychology to understand what drives digital experiences and makes players feel more like a part of the community than a client of their service. One way of accomplishing this is through avatar and asset ownership. In a decentralised virtual world, digital assets like skins, weapons, and other items can be traded on the blockchain as non-fungible tokens (NFTs) NFTs have the potential to create new revenue streams for developers and players alike, while offering genuine, tangible ownership. This aspect is core to undoing the preconceived notion that we must buy our way to success in the gaming world, spending huge sums for downloadable content and asset packs that have no resale value. It&rsquo;s not just virtual assets either, in many metaverses, you own your characters and have the option to sell them, trade them, upgrade them, and experiment with different styles and strategies based on their attributes. As you evolve as a person, so can your character. In the metaverse, there will be nothing stopping a dragonslayer from one Metaverse racing F1 in another. The blockchain offers far greater autonomy for players and their avatars and in the future, players will be able to take their assets and avatars with them across different games and platforms, creating a more fluid and interconnected virtual ecosystem, where players can truly shape their own destinies. What Does a Decentralised & Democratised Metaverse Look Like? On the verge of reimagining what it means to be a metaverse is Heroes of NFT&rsquo;s &ldquo;Luminoria&rdquo;. Having already had great success in the NFT space and with PvP play-to-earn games, Heroes of NFT (HON) are set to release a metaverse like no other. Beyond futuristic graphics, a thoroughly developed storyline, functioning tokenomics, and a huge community already playing their games and taking advantage of their DeFi tools, HON has something other metaverses can&rsquo;t compete with. A real plan for democracy. Community-first and transparency have been core ideals of this project, started by a group of real-life friends who wanted to take their childhood affinity for trading card games onto the blockchain. From their original idea, to a fully-functioning metaverse, this has been a journey that has brought them a great deal of buy-in, respect, and community along the way. It&rsquo;s brought them closer together as a team too. They shared every milestone, went into depth about their personal journeys, and actively manage their flourishing communities. At the same time, they have handed over power and ownership to the community that allows them to dream, in the form of tokens, governance, and a considerable ambassador programme. Now, with a team of ambassadors, a growing community of enthusiasts, and a huge amount of transparency about everything in development, they are ready for the next step of democracy. Virtual real estate. The upcoming land sale will not just give players the chance to own a little slice of their metaverse, it will give them a key to the kingdom and a seat at the table. Upon purchasing land, the buyer will be able to stake this unique virtual space into a 5-year plan that will return their investment. Unlike real-world estate where it can take decades to pay back a property loan, in HON&rsquo;s metaverse, you pay upfront and the staking rewards pay you back for 5 years until your investment is returned. In the meantime, you can turn your land NFT (which is really a futuristic apartment) into your own, customising it and making use of your creative expression. For other projects looking to democratise, the use of community-sourced ambassadors, transparent reporting, and an open-to-the-public land sale with staking rewards are a few innovative ideas to do so. Democratised Digital Experiences: Enjoy in Your Own Way Democratised and decentralised metaverses offer players the chance to enjoy gaming in their own way, not having to fit into a box or be limited by the fixed dynamics of a game, as has almost always been the case. Whether it's creating new content, participating in the game economy, or simply exploring a new world, players can engage with virtual worlds on their own terms, and with greater depth. This new era will not be without its challenges. As developers embrace new models of governance and monetisation, they must also be mindful of issues like security, privacy, and inclusivity, as well as ethical and moral dilemmas. The benefits of decentralisation and democratisation are designed to be shared by all and ensure that virtual worlds remain safe and accessible to everyone. One thing is clear: the possibilities are endless. With decentralised technology and virtual worlds, we can create a more equitable, sustainable, and engaging future for gaming. So let's roll up our sleeves, dive into the Metaverse, and see what the future holds. 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.

BTC and altcoin prices succumbed to this week’s negative newsflow, but sentiment analysis and on-chain data point to the possibility of a short-term bounce.

Following the closure of crypto-friendly bank Silvergate, the focus will be on actions by Signature Bank and crypto exchange Binance, the report said.

The Heterosis project allows users to collect breedable, dynamic NFTs of digital flowers, all of which are housed in a metaverse rendition of London's National Gallery.

The Aussie authorities could set up a crypto regulatory roadmap in 2024 or 2025, believing investors are less interested in the industry.

The outflow comes in the wake of a massive crackdown on the digital asset industry in the United States.