91 day ago • cryptopotato
Bracket Labs Expands Cross-Chain to Deliver Volatility Trading Product, Passage, to BNB Chain’s 1+ Million Users
[PRESS RELEASE – Panama City, Panama, February 1st, 2024] Integration Comes on the Heels of $2 Million Investment Led By Binance Labs Bracket Labs, a leader in on-chain volatility trading, announces the integration of its trading product, Passage, with BNB Chain, expanding Bracket’s simple, one-click trading platform to the most active trading blockchain in Decentralized […]
246 days ago • cryptodaily
Korea Blockchain Week 2023, Asia’s Most Impactful Blockchain Conference, Presents Web3’s Leading Voices
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.
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247 days ago • cryptodaily
1inch Investment Fund Acquires $10m in $ETH
Blockchain data indications have revealed that 1inch Investment Fund, the investment arm of 1inch Network, recently acquired acquired a substantial amount of Ether (ETH) on itscrypto wallet.
The purchase, which amounts to 6,088 ETH bought at a price of $1,655 each, translates to an investment exceeding $10 million at the time of purchase. Blockchain analytics platform Lookonchain first highlighted this large transaction, drawing attention to the fund's continued interest in the crypto market.
1inch Investment Fund wallet spent $10M to buy 6,088 $ETH at $1,655 6 hrs ago.The wallet bought a total of 17K $ETH($26.8M) at an average price of $1,569 on Jan 13, Feb 9 and Mar 14.Then sold 11K $ETH($21M) at $1,906 on July 5, making ~$3.7M.https://t.co/QhEm3M9Mm7 pic.twitter.com/JUxzA8hFom
— Lookonchain (@lookonchain) August 28, 2023
The investment comes on the heels of a profitable period for the 1inch-affiliated wallet. Earlier this year, the wallet had made sizable investments inETH, buying around 17,000 ETH at an average price of $1,569 across three different instances—January 13, February 9, and March 14. The cumulative spend for these earlier investments was approximately $26.8 million.
In July, the fund took advantage of favorable market conditions and sold off 11,000 ETH when the cryptocurrency's price peaked at $1,906. This sale resulted in a revenue of roughly $21 million, thereby fetching a profit of around $3.7 million from its Ether holdings alone. According to blockchain data, this calculated approach to buying low and selling high has paid off well for the fund.
The acquisition and sale pattern indicates a strategic investment approach that appears to rely on dollar-cost averaging (DCA) and taking profits when market conditions are optimal. It also showcases the fund's risk diversification tactics, as the wallet reportedly holds a broad range of digital assets currently valued at around $80 million. Such portfolio diversification is often seen as a prudent strategy in the volatile cryptocurrency markets. The fund's recent actions raise pertinent questions about its future investment orientation and whether it will continue to realize profits through similarly strategic engagements in the cryptlo markets.
This acquisition is not merely a one-off purchase but also offers broader insights into market behavior and sentiment. Given that Ethereum is one of the main blockchains and cryptocurrencies that often influences and reflects market dynamics, such large-scale buying activity suggests a level of confidence in the digital asset’s future performance.
Disclaimer: This article is for informational purposes only and should not be construed as financial or investment advice.
247 days ago • cryptodaily
1inch Investment Fund Acquires $10m in $ETH
Blockchain data indications have revealed that 1inch Investment Fund, the investment arm of 1inch Network, recently acquired acquired a substantial amount of Ether (ETH) on itscrypto wallet.
The purchase, which amounts to 6,088 ETH bought at a price of $1,655 each, translates to an investment exceeding $10 million at the time of purchase. Blockchain analytics platform Lookonchain first highlighted this large transaction, drawing attention to the fund's continued interest in the crypto market.
1inch Investment Fund wallet spent $10M to buy 6,088 $ETH at $1,655 6 hrs ago.The wallet bought a total of 17K $ETH($26.8M) at an average price of $1,569 on Jan 13, Feb 9 and Mar 14.Then sold 11K $ETH($21M) at $1,906 on July 5, making ~$3.7M.https://t.co/QhEm3M9Mm7 pic.twitter.com/JUxzA8hFom
— Lookonchain (@lookonchain) August 28, 2023
The investment comes on the heels of a profitable period for the 1inch-affiliated wallet. Earlier this year, the wallet had made sizable investments inETH, buying around 17,000 ETH at an average price of $1,569 across three different instances—January 13, February 9, and March 14. The cumulative spend for these earlier investments was approximately $26.8 million.
In July, the fund took advantage of favorable market conditions and sold off 11,000 ETH when the cryptocurrency's price peaked at $1,906. This sale resulted in a revenue of roughly $21 million, thereby fetching a profit of around $3.7 million from its Ether holdings alone. According to blockchain data, this calculated approach to buying low and selling high has paid off well for the fund.
The acquisition and sale pattern indicates a strategic investment approach that appears to rely on dollar-cost averaging (DCA) and taking profits when market conditions are optimal. It also showcases the fund's risk diversification tactics, as the wallet reportedly holds a broad range of digital assets currently valued at around $80 million. Such portfolio diversification is often seen as a prudent strategy in the volatile cryptocurrency markets. The fund's recent actions raise pertinent questions about its future investment orientation and whether it will continue to realize profits through similarly strategic engagements in the cryptlo markets.
This acquisition is not merely a one-off purchase but also offers broader insights into market behavior and sentiment. Given that Ethereum is one of the main blockchains and cryptocurrencies that often influences and reflects market dynamics, such large-scale buying activity suggests a level of confidence in the digital asset’s future performance.
Disclaimer: This article is for informational purposes only and should not be construed as financial or investment advice.
248 days ago • cryptodaily
dYdX Founder: Crypto Industry Should “Give Up” On US Markets
dYdX founder Antonio Juliano has suggested that the crypto space should “give up” on the US markets for the next five to ten years and focus on other markets.
Juliano argued that crypto projects could scale faster by not serving the US markets because they would not have to deal with a hostile regulatory climate.
Prioritize Markets Outside The US
In a thread posted on X on the 25th of August, Juliano put forward his argument that builders in the crypto space must look to prioritizing markets and customers outside of the United States. He added that doing so will ensure the project’s growth, given that developers will face fewer regulatory hurdles and will be able to focus on user adoption and platform growth. Juliano primarily addressed startup projects rather than fully established players and emphasized that they could scale faster overseas in friendlier markets.
“Crypto builders should just give up serving US customers for now and try to re-enter in 5-10 years. It’s not really worth the hassle/compromises. Most of the market is overseas anyway. Innovate there, find PMF [product market fit], then come back with more leverage. The only thing that matters for all of us is crypto finding 10x stronger product market fit.”
He further added,
“In the grand scheme of things, barely anyone uses or cares about crypto today. I personally don’t care about any outcome except growing crypto 100x+ long term.”
Lack Of Clear Rules A Major Concern
Many in the crypto space have stated that the United States needs more clarity when it comes to rules and regulations around crypto. A key example of this need for more clarity is the gray area surrounding the jurisdiction of the United States Securities Exchange (SEC) and the Commodity Futures Trading Commission (CFTC) over the crypto space. The United States government has continued to drag its heels on crypto regulations, and the dYdX founder has suggested that the crypto space needs to grow further in order to have greater sway over US policy.
Juliano argued that it makes more sense for startups and builders to focus on finding product market fits overseas before returning to the US with the added leverage of large user bases.
“This does not mean crypto US policy work is not important. It absolutely is, as it takes a really long time (must be ready for the re-entry), and much of the world will follow the US’s lead. Crypto not yet having world-scale usage/product market fit means we don’t yet have much influence in policy. We need to have products with massive usage where users (voters) say, ‘wait, I need this.’”
A Different Perspective
The CEO of Coinbase, Brian Armstrong, responded to the post and offered a different perspective to the argument. Armstrong struck a much more optimistic note, stating that the situation would get better in due time.
“I see your point - but I think it will be better in a much shorter time. Probably by next year, if I had to guess. The US always gets it right after exhausting every other option. It will heal from these wounds, no matter how hard a small group of people try to stop progress.”
Antonio responded with similar optimism but highlighted in his reply that the situation is different for fully scaled businesses and startups.
“I’m optimistic! And we’re helping our small part with policy, too. I just think it’s different for startups vs. scaled businesses. If you haven’t yet found a strong product market fit, the tradeoff to move faster & more freely seems worth the somewhat smaller market size.”
Wintermute CEO Evgeny Gaevoy also chimed in, agreeing with Juliano’s view, stating things would get better in 2-3 years, or never if not.
Lack Of Regulatory Clarity Hurting US
The ambiguity regarding regulations only hurts the US markets as big crypto firms look at other markets with regulatory clarity. Coinbase has made several efforts to influence crypto policy in the US. However, the firm is also expanding its global footprint, establishing operations in Ireland, Germany, the Netherlands, and Italy. Additionally, it is also considering a permanent move to the UK or Dubai. Binance, the world’s largest cryptocurrency exchange, is also attempting to be regulated in the UK. This comes despite the UK regulator issuing a ban on the exchange.
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.
248 days ago • cryptodaily
dYdX Founder: Crypto Industry Should “Give Up” On US Markets
dYdX founder Antonio Juliano has suggested that the crypto space should “give up” on the US markets for the next five to ten years and focus on other markets.
Juliano argued that crypto projects could scale faster by not serving the US markets because they would not have to deal with a hostile regulatory climate.
Prioritize Markets Outside The US
In a thread posted on X on the 25th of August, Juliano put forward his argument that builders in the crypto space must look to prioritizing markets and customers outside of the United States. He added that doing so will ensure the project’s growth, given that developers will face fewer regulatory hurdles and will be able to focus on user adoption and platform growth. Juliano primarily addressed startup projects rather than fully established players and emphasized that they could scale faster overseas in friendlier markets.
“Crypto builders should just give up serving US customers for now and try to re-enter in 5-10 years. It’s not really worth the hassle/compromises. Most of the market is overseas anyway. Innovate there, find PMF [product market fit], then come back with more leverage. The only thing that matters for all of us is crypto finding 10x stronger product market fit.”
He further added,
“In the grand scheme of things, barely anyone uses or cares about crypto today. I personally don’t care about any outcome except growing crypto 100x+ long term.”
Lack Of Clear Rules A Major Concern
Many in the crypto space have stated that the United States needs more clarity when it comes to rules and regulations around crypto. A key example of this need for more clarity is the gray area surrounding the jurisdiction of the United States Securities Exchange (SEC) and the Commodity Futures Trading Commission (CFTC) over the crypto space. The United States government has continued to drag its heels on crypto regulations, and the dYdX founder has suggested that the crypto space needs to grow further in order to have greater sway over US policy.
Juliano argued that it makes more sense for startups and builders to focus on finding product market fits overseas before returning to the US with the added leverage of large user bases.
“This does not mean crypto US policy work is not important. It absolutely is, as it takes a really long time (must be ready for the re-entry), and much of the world will follow the US’s lead. Crypto not yet having world-scale usage/product market fit means we don’t yet have much influence in policy. We need to have products with massive usage where users (voters) say, ‘wait, I need this.’”
A Different Perspective
The CEO of Coinbase, Brian Armstrong, responded to the post and offered a different perspective to the argument. Armstrong struck a much more optimistic note, stating that the situation would get better in due time.
“I see your point - but I think it will be better in a much shorter time. Probably by next year, if I had to guess. The US always gets it right after exhausting every other option. It will heal from these wounds, no matter how hard a small group of people try to stop progress.”
Antonio responded with similar optimism but highlighted in his reply that the situation is different for fully scaled businesses and startups.
“I’m optimistic! And we’re helping our small part with policy, too. I just think it’s different for startups vs. scaled businesses. If you haven’t yet found a strong product market fit, the tradeoff to move faster & more freely seems worth the somewhat smaller market size.”
Wintermute CEO Evgeny Gaevoy also chimed in, agreeing with Juliano’s view, stating things would get better in 2-3 years, or never if not.
Lack Of Regulatory Clarity Hurting US
The ambiguity regarding regulations only hurts the US markets as big crypto firms look at other markets with regulatory clarity. Coinbase has made several efforts to influence crypto policy in the US. However, the firm is also expanding its global footprint, establishing operations in Ireland, Germany, the Netherlands, and Italy. Additionally, it is also considering a permanent move to the UK or Dubai. Binance, the world’s largest cryptocurrency exchange, is also attempting to be regulated in the UK. This comes despite the UK regulator issuing a ban on the exchange.
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.
266 days ago • cryptodaily
MakerDAO's Spark Protocol Sparks Privacy Concerns
MakerDAO, a decentralized finance (DeFi) stalwart, is facing heightened scrutiny after the introduction of its new platform, Spark Protocol.
The controversy arises from Spark Protocol's terms of service, which actively prevent users from accessing the platform via virtual private networks (VPNs). By limiting VPN access, it appears MakerDAO is attempting to restrict U.S. users from the platform, causing a ripple effect on global user rights and igniting concerns over privacy in the DeFi sector.
The decision to restrict VPN access follows closely on the heels of Rune Christensen, MakerDAO's founder, announcing the potential for DAI stablecoin holders to earn up to 8% returns via the DAI Savings Rate (DSR) on Spark Protocol. The appeal of these high yields comes from a system adjustment: when DSR adoption is sparse, the rate increases to attract users. Despite only 9% of DAI holders currently participating in DSR, the platform's mechanism automatically optimizes rates based on user engagement.
Despite these prospective states, behind this innovative yield mechanism lies a broader issue. The DeFi space, characterized by its decentralized ethos and user autonomy, is now confronting questions about the balance between regulatory compliance and individual privacy rights.
Chris Blec, a DeFi analyst, voiced strong concerns over Spark Protocol's VPN restrictions. Blec's stance is that MakerDAO's decision could compromise global user privacy, potentially prioritizing profit motives over decentralized principles.
This contention around user rights and access isn't isolated. Over the past year, DAI's market trajectory experienced turbulence. Its market cap plummeted by 43%, from $7B to $4B, after a destabilizing event in March when both DAI and USDC stablecoins momentarily dropped below their usual peg. Concerns arose about the solvency of USDC's banking partners, and since DAI's collateral heavily comprised USDC, both tokens suffered.
MakerDAO's strategy, introducing high DSR yields through Spark Protocol, aims to bolster its position in the volatile stablecoin ecosystem.
On the contrary, by blocking VPN access, MakerDAO has placed itself in the crosshairs of a larger debate around the intersection of regulatory compliance, decentralized operations, and user rights in the crypto domain.
While it remains that there is a need to evaluate the implications of MakerDAO's recent decisions, the line between user privacy and platform governance is set to be a defining conversation in the industry's DeFi 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.