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SpectrumNetwork(SPEC)

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Circulating Supply
949,512,740
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1h agocryptodaily
Do Kwon Wanted By Interpol
The International Criminal Police Organization or Interpol has slapped defunct Terraform Labs founder Do Kwon with a red notice. Arrest Warrant Out For Do Kwon The Terra Saga continues with the co-founder Do Kwon’s misfortune. After being investigated by numerous law enforcement agencies and having charges filed against him, Do Kwon has become an internationally wanted man. Interpol has slapped him with a red notice, signaling global law enforcement agencies to track him down and arrest him on fraud charges. Do Kwon’s troubles began with the collapse of the LUNA crypto and the depegging of the Terra stablecoin. The crash took down many other crypto companies in its wake, like the high-profile crypto hedge fund Three Arrows Capital, and wiped out $40 billion worth of investor funds. Is Do Kwon Absconding? South Korean law enforcement had already launched investigations into the Terraform founder and doubled down over the last few weeks. An arrest warrant has already been issued in his name. Earlier this month, the South Korean prosecutors appealed to Interpol to issue a red notice. They have claimed that Kwon has not been cooperative with the investigation and they are looking to revoke his passport as he has been absconding. It was thought that Kwon was in Singapore, where he maintains a residence, but police have confirmed that he's not there. Do Kwon, however, has dismissed such claims and has stated that he is not on the run from officials. He stated, “For any government agency that has shown interest to communicate, we are in full cooperation and we don’t have anything to hide. We are in the process of defending ourselves in multiple jurisdictions—we have held ourselves to an extremely high bar of integrity, and look forward to clarifying the truth over the next few months.” Dangerous Precedent Several industry experts have criticized the arrest warrant on Do Kwon’s name. They believe that it could set a wrong precedent in the industry, as it might deter innovators from launching their projects for fear of failure. Especially since Kwon has never admitted to knowingly defrauding investors and customers, the warrant on his name could be interpreted as regulatory persecution. Since the crash, Kwon has revived the project after support from a community-wide vote. However, he has been avoiding the algorithmic stablecoin component of the project for now, as that was at the core of the TerraUSD depegging that resulted in the LUNA crash. 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.
4h agocryptodaily
Short Guide To Uniglo (GLO), Bitcoin (BTC) And Fantom (FTM) Investing
Are you looking for a bit more info about certain crypto projects? Sometimes, it can be hard to know which advice to listen to. There's tons of info out there, but finding it and digesting it can be overwhelming. Especially if you're new to crypto investing. Even if you're not, you might have seen your portfolio struggle over recent months and be losing confidence about the future of the industry. But the industry still has an incredibly bright future. You just have to know where to look, listen to the right advice, and make the right choices. Crypto might be down right now, but it won't stay that way for the long-run. In fact, many investors are deciding now is the time to buy, and believe that current discount prices won't be available for much longer. So if you want to revolutionise your financial future, there's still money to be made in crypto. You just have to know where to look. Here's a quick guide on three of the top cryptos you should consider right now: Uniglo (GLO) Uniglo works by charging a small tax on transactions. This tax is then used to build up the GLO vault, which is a full asset-backed store of value that's diversified into a range of products. These assets include the likes of NFTs, cryptos, digital gold and fine art. It gives holders the opportunity to own a piece of products they might not have been able to afford before and also allows them to own a token that has a full store of value (something fiat currencies lost long ago when they scrapped the gold peg reserve). This makes GLO completely deflationary and so does the project's radical dual-burn mechanism. That’s why more and more investors are realizing the power of GLO. Bitcoin (BTC) Bitcoin is still the biggest coin in crypto, and while it might not have the same fundamentals of some newer projects, it will always have a future in the space. Experts think it could fire beyond all-time highs at some point in the future. So if you want to be able to enjoy more future gains, there could still be that opportunity with Bitcoin. Fantom (FTM) Fantom has recently been gaining a lot of attention. It's home to a ton of interesting projects and is an incredibly scalable development platform. As more use cases are created in the crypto space, FTM could be at the heart of its future. Conclusion FTM, GLO and BTC present great opportunities if you invest at the right time. The right time could be now, especially with GLO. Find Out More Here: Join Presale: https://presale.uniglo.io/register Website: https://uniglo.io Telegram: https://t.me/GloFoundation Discord: https://discord.gg/a38KRnjQvW Twitter: https://twitter.com/GloFoundation1 Disclaimer: This is a sponsored pressrelease andis 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.
5h agocryptopotato
Playdapp and Mikey NFT Stands Out and Gets Sold Out Within Three Hours
[PRESS RELEASE – Seoul, South Korea, 22nd September 2022] The NFT Marketplace Calls out To NFT Investors To Grab its Super Successful NFT Before The Launch Of Its New Game ‘Tournaments’ That Will Give Special Access To Existing NFT Holders. As soon as the Blockchain Gaming Platform and NFT Marketplace, PlayDapp, launched its Non-Fungible Token […]
9h agocryptodaily
Blockchain game “PROJECT XENO” collaborates with Floyd Mayweather Jr.
Tokyo, Japan, 26th September, 2022, ChainwireCROOZ, Inc. (Listed on Tokyo Stock Exchange Standard Market; Head office: Shibuya-Ku, Tokyo; CEO: Koji Obuchi; hereinafter: CROOZ) has announced that the blockchain game known as “PROJECT XENO” under development by CROOZ is going to collaborate with Floyd Mayweather Jr. who is a former professional boxing world champion in five weight classes. Collaboration with Floyd Mayweather Jr. As announced earlier, the token that is published by EPOCH FACTORY and used in “PROJECT XENO” is just about to be listed on the Cryptocurrency exchange “MEXC Global” on 3rd of Oct. “PROJECT XENO” is going to launch the first auction and for this memorial event, the project will collaborate with Floyd Mayweather Jr. The company will hold an NFT auction, including special limited Mayweather characters. Prizes for the participation will also be distributed for winners. For further information about the collaboration, please visit following URL: https://project-xeno.com/content/collaboration_mayweather/ For further information about the first auction, please visit following URL: https://project-xeno.com/auction-nft/ Upcoming in-game token listing (“GXE”) on MEXC Global on 3rd of Oct The token “GXE” published by EPOCH FACTORY which will be used in “PROJECT XENO” a blockchain game is going to be listed on the Cryptocurrency exchange “MEXC Global” on 3rd of Oct. The PROJECT XENO team hopes that this special event will raise awareness to this project, and will continue to expand the community. MEXC Global is known as a leading exchange of high performance and transaction matching technology. Founded in 2018 and currently caters to more than 6 million users in more than 70 countries around the world., MEXC Global aims to become the go-to platform for new traders and experienced investors as they move forward in their financial journey. YouTuber "Hikaru" has been appointed as an ambassador “PROJECT XENO” reached an agreement with The YouTuber “Hikaru”, one of the top and most popular YouTuber in Japan who has more than 4.8 million subscribers to become an ambassador. This year, which is said to be the first year of Web3, is attracting increasing attention to blockchain and NFTs as the next generation of the World Wide Web. Hikaru, who continues to challenge a lot of new efforts, has been appointed as the ambassador for the project.. XENO will continue to take on new challenges that will create a new wind in the NFT game industry with Hikaru and provide new experiences to everyone. "I am grateful to be appointed as the ambassador for “PROJECT XENO”, said Hikaru. "As some of you may know, my career as a YouTuber was started from a gaming channel. My starting point will challenge the industry that is attracting attention in the future. I will for sure fully enjoy these challenges! And I hope my viewers on YouTube and all parties related to the “PROJECT XENO” will also enjoy the project!" he adds. About "PROJECT XENO" PROJECT XENO is a tactics game with GameFi and e-sports aspects. Players who own NFT characters can acquire tokens and NFTs by playing this game. They can also trade NFTs seamlessly through the in-app wallet and marketplace. Their earnings are securely stored in the "General" in-app account. For further information, please visit the web site or follow the official Twitter account. PROJECT XENO:http://project-xeno.com/ PROJECT XENO Official Twitter(JP):https://twitter.com/PROJECTXENO_JP PROJECT XENO Official Twitter(ENG):https://twitter.com/PROJECTXENO_GLB About CROOZ Blockchain Lab, Inc. Crooz Blockchain Lab, Inc. is a company that focuses on blockchain technology and game development, and also a consolidated subsidiary of CROOZ, Inc. About CROOZ, Inc. https://crooz.co.jp CROOZ, Inc . is an "EC solution company" that develops multiple services related to the EC area, centered on "SHOPLIST.com by CROOZ". Based on the know-how and achievements cultivated through "SHOPLIST.com by CROOZ", we aim to become a leading company in the EC solutions field. Inquiries PR department, CROOZ, Inc. Email: [email protected] *The impact of this business on the consolidated earnings results of the current fiscal year is minor. CROOZ, Inc. Head Office :Ebisu SS building 1F, 4-3-14 Ebisu, Shibuya-Ku, Tokyo, JAPAN Established :May 24th, 2001 Capital :460.16 million yen(as of the end of March in 2022) Description : -Formulate management strategies for group companies as a pure holding company -Invest in subsidiaries -Formulate management targets and support efforts to attain the targets CROOZ Blockchain Lab, Inc. Head Office :Ebisu SS building 1F, 4-3-14 Ebisu, Shibuya-Ku, Tokyo, JAPAN Established :September 19th, 2018 Capital :40 million yen(including capital reserve. as of the end of March in 2022) Description :Planning and consulting services in the FINTECH area and NFT game planning and operation servicesContactPR [email protected]
9h agocryptodaily
SUMOTEX Presale Goes Live, First Protocol To Spearhead USD 250 Mil Tvl Tokenisation Worth Of Real Estate Upon Ido
Kuala Lumpur, Malaysia, 26th September, 2022, ChainwireSUMOTEX is a revolutionary coin that is currently in its presale status. The project is developed on the vision of the cofounders of bringing web3 into real estate and institutional finance. Started out as an NFT project on the IoTeX blockchain, Sumotex has quickly gained traction and popularity within the ecosystem and has risen to become one of the top projects. The protocol solves one of the largest and most pressing issues that is long present in real estate and institutional finance, liquidity. Sumotex AssetFi protocol tokenizes off-chain assets such as real estate, bonds, company shares and investment funds. Sumotex calls it (Tokenise-to-earn), where everybody will be able to tokenize their real estate/ real-world assets on the protocol where INSTANT liquidity is achieved. It is already proven as there are used case with Sumotex where they will be tokenizing a portfolio of real estate in Malaysia worth 2.5mil USD (Announcement: https://twitter.com/SumoTex/status/1556692633405181953?s=20&t=KseIKihU_mwEQbLynT2wlg). The CEO of Sumotex, Dexter mentioned: “ We are finalizing the details of a mega tokenization project on our protocol worth 250mil USD. It will be a mixed development with a Development Value of 1.1 Billion USD”. The blockchain community has never seen anything like this where liquidity is achieved almost instantaneously. In Sumotex's roadmap, Sumotex has also mentioned that they will be issuing the world's first over-collateralized Real Estate back stable coin, where asset’s owner will be able to tokenize their assets, choose to deposit their assets into Sumotex stablecoin vault for stablecoin issuance at a margin. With the vision, capability and potential of SUMOTEX’s goal of bringing web3 to traditional real estate and institutional finance. This presale is not one to be missed where Phase 1 goes for 0.07USD per SMTX while listing price on Uniswap will be 0.10USD per SMTX. Users can buy here: https://coin.sumotex.co TG: https://t.me/SumoTex About Sumotex Executive Summary Founded in 2021, Sumotex was established to revolutionize the long stagnated real estate industry. Traditional (Web2) Real Estates are known to be illiquid, expensive, and vague where we think that it is time for web3 Real Estate to take over. Our NFTs carry a special trait: Ownership to our investments (metaverse or off-chain assets). Furthermore, they will be able to stake their NFT on the IOTEX blockchain while mining token from the Ethereum Network. SMTX Token Institutional finance has always been the foundation of our economic growth, and a paradigm shift towards blockchain is unavoidable. SUMOTEX always believes that the stagnated institutional finance and real estate sector is poised to be disrupted with our Web3 solution, the AssetFi protocol. Our protocol is based on the tokenization of off-chain assets ( Real estates, bonds, funds, company shares). ContactPublic RelationsAdam [email protected]
1 day agocryptodaily
Space MMOs venture into the world of NFTs
Ever since Johannes Kepler and Jules Verne invented the space genre it has kept expanding the frontiers of our imaginations. In recent decades it has expanded into computer games, MMO games, and now into the world of NFTs and the metaverse. Players can create their own characters and stories, leading rebellions against whole worlds or fighting aliens on the fringes of the galaxy. But not all that shimmers is dilithium. Some NFT games promise a new frontier but so far have delivered little more than stardust. "The real challenge and the real opportunity is keeping our focus on gameplay … , when we start to forget about making great games and start thinking about games as a vehicle or an opportunity for something else, that's when we stray a little bit further from the path", Sid Meier, founder of the Civilization game franchise. Space Economics Space MMO games like Eve Online, Elite Dangerous, and the sprawling Star Citizen have created vast open galactic systems in virtual space. Players can fly and customize spacecraft, band together to fight wars, search for alien artifacts, and explore deep space. Most of these MMOs have game economies but with varying levels of detail. Most allow you to buy and sell spacecraft. Others like Star Wars: The Old Republic and Eve Online allow you to buy buildings and even planets. In 2010, an asteroid cum nightclub in the Entropia Universe was sold for $635,000! In Prosperous Universe you can even build an interplanetary supply chain and sell manufactured products on its Commodity Exchange. NFTs in space NFTs promise to take game economies to the next level by removing several of the problems with in-game currencies and trading. NFTs provide proof of ownership of in-game items. There have been several reported cases of theft of valuable items within games and there must be many more unreported cases. NFTs help prevent theft by showing an undisputable chain of ownership that anyone can look up on the blockchain. Further, an NFT item cannot be traded or taken unless the owner agrees to it on the blockchain. Combined with digital currencies (game specific or general crypto currencies like Bitcoin), NFTs also make trading items much easier. Sellers don’t have to rely on finding buyers in-game, they can sell the item outside the game. In the future, it may be possible to transfer NFT items between games, which creates a bigger market and increased liquidity for items. NFT trades also remove the problem of fraudulent transactions, where the seller transfers an item but the buyer does not send payment or vice-versa. Blockchains transactions which involve NFTs and crypto currencies enable an instantaneous exchange of the coin and NFT. This can even occur between wallets on different blockchains - an atomic swap. NFTs with smart contracts also allow for exciting new forms of transactions for games. Smart contracts allow contract terms to be automated in the blockchain so that enforcement is guaranteed. Items can be sold with a residual percentage share so that the original seller or creator benefits from future sales. There is also the potential for contracts for paid services within a game. If a term is codable it can be enforced. Early movers Early NFT movers in the space-themed MMO genre include CSC, Infinite Fleet, and Star Atlas. CSC (Crypto Space Commander) was founded in 2015 by LA gaming studio Lucid Light. Early access was launched on Steam in 2019. However, in June 2021 Hong Kong's Animoca Brands were brought in to revitalize the game because of a stagnant user base, a lack of recent development, and criticisms of a weighting towards pay-to-win. CSC allows players to fight, mine, and craft unique items. Ships are fully customizable NFTs that players can trade. Crafted items are also NFTs. Players earn royalties anytime a crafted item is sold. Players can also improve their crafting skills within the game. CSC also allows smart contracts between players. Players earn GRP tokens from successful missions, selling items, and mining planets. CSC uses the Ethereum blockchain. Infinite Fleet is a game of interstellar fleet combat that pays homage to 1980s anime such as Space Battleship Yamato. Players are a commander for the United Sol Federation fighting against the Atrox alien threat. Players start with a single ship but can build a whole fleet. Missions can even be run when players are AFK (Away From Keyboard). Infinite Fleet is the brainchild of gaming and crypto veteran Samson Mow who founded Pixelmatic in 2011. Mow cut his teeth at Relic Entertainment helping to develop titles like Company of Heroes and later Might & Magic when he joined Ubisoft. Infinite Fleet is produced by a small but hardcore team at Pixelmatic who are punching above their weight. The game went into Alpha release in March 2021 and entered Beta release on 28 July 2022. New updates seem to be popping regularly and the team are committing to a major release every two months. It’s worth noting that Infinite Fleet is one of the few games that’s delivering on promises and exists in an actual playable state. Players will earn INF crypto tokens from playing the game and participating in events. The tokens use the layer-2 solution Liquid on the Bitcoin blockchain and can be traded outside the game. However, the game can be played with no need for players to interact with the game’s cryptocurrencies - it is totally at their behest. “People should only buy these things if they plan to use them in the game itself,” Samson Mow. In addition to Mow’s gaming chops, Infinite Fleet is also being backed by Tether, crypto industry’s heavyweights. In 2020, Infinite Fleet also raised funds for the project by issuing a Security Token Offering - a token based security. Star Atlas is set in a futuristic universe where three factions vie for territory through space combat. Players can choose to join one of the three factions: one human and two alien. Star Atlas released its first ship JPEG NFTs in September 2021 and its game trailer in October 2021. The trailer was made by Hydra Studios. It has been reported that the graphics in the actual game will use the Unreal 5 engine. A limited mini game “SCORE” is currently available in which players can click a button to send their JPEG NFTs on missions and receive rewards. A DAO (Decentralized Autonomous Organization) and accompanying POLIS tokens were released in July 2022 to allow players to vote on certain governance issues for the universe. A “Galactic Marketplace” has recently been released and allows for trading of the game’s NFTs. According to Star Atlas’s website, the game’s crypto currency ATLAS will be play-to-earn. “I see the value proposition here because we truly understand what that value proposition is to the player”. Michael Wagner, CEO of ATMTA (lead developer of Star Atlas). Lead developers ATMA have a large team of over 200 employees and outsourcers and are backed by crypto exchange FTX and billionaire Sam Bankman-Fried. The NFTs use the Solana blockchain and decentralized finance (DeFi) features are provided through Serum. Early investors are excited to see the eventual release of the promising game. Final Thoughts Fans of the space combat genre are certainly spoiled for choice. With the release of new blockchain games they will have the freedom to trade and govern their favorite universes. Like any new enterprise, some games are more advanced than others, and it remains to be seen which titles can gather a critical mass. 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.
1 day agocryptodaily
Flasko (FLSK) likely to overtake king meme Dogecoin (DOGE) and Shiba Inu (SHIB) in 2023
Cryptocurrencies have appeared in finance, loans, and play-to-earn (P2E) games. As a result, new cryptocurrency users can select projects depending on their preferences and the sector's success. Flasko, Shiba Inu (SHIB), and Dogecoin (DOGE) are three ventures that have shown to be successful in their respective industries. Flasko is quickly becoming one of the most talked about cryptos this month. Dogecoin (DOGE) investors are investing in Flasko (FLSK) Dogecoin (DOGE) was the first meme coin launched in 2013. Veteran software developers Billy "Shibetoshi Nakamoto" Marcus, Jackson Palmer, Michi Lumin, and Ross Nicoll proposed it. Dogecoin gained popularity under the ticker DOGE and the sign. The new cryptocurrency named after the 2013 Reddit meme "doge" ("dog" in broken English) depicted a Shiba Inu dog named Kabosu. Dogecoin (DOGE) is a fork of Litecoin (LTC), which is a fork of Bitcoin (BTC), the first cryptocurrency. Dogecoin (DOGE), like Litecoin (LTC), employs the Scrypt algorithm and may thus be mined on Litecoin (LTC) hardware. Shiba Inu (SHIB) continues to show impressive performance Shiba Inu (SHIB) is the first widely accepted Dogecoin (DOGE) clone. SHIB, unlike Dogecoin (DOGE), does not have its blockchain: it is an ERC-20 token that operates on top of Ethereum (ETH). Shiba Inu (SHIB) launched in August 2020, and its developers handed 50% of its liquid supply to Vitalik Buterin, the founder of Ethereum (ETH). Shiba Inu (SHIB) was one of the most outstanding performers in 2021 and one of the most popular meme coin euphoric symbols. Shiba Inu (SHIB) is currently the only meme cryptocurrency that supports the "actual" Defi ecosystem with an NFT incubator and market, yielding module, and decentralized crypto exchange ShibaSwap. Flasko (FLSK) is new and offers excellent earning potential Flasko intends to introduce crypto enthusiasts to the rare whiskey, fine wine, and premium champagne industries. Flasko is the primary topic of conversation right now. Flasko aims to boost market liquidity for limited-edition premium wines, champagnes, and spirits. The presale of this enormous endeavor is currently underway, investors should view this as an excellent opportunity to participate in this revolutionary enterprise. The Flasko presale has begun, and now the price is at $0.04. Experts predict a 2,000% increase by the end of 2022. The smart contract has passed its audit, the initiative will lock liquidity for the next 33 years providing the ultimate safety for investors. To demonstrate their commitment to the project, the team is barred from selling any tokens for the first two years. It is a safe bet and our top cryptocurrency investment suggestion for the month. You can participate in the presale by clicking on the links below. Presale: https://presale.flasko.io Website: https://flasko.io Telegram: https://t.me/flaskoio Twitter: https://twitter.com/flasko_io Disclaimer: This is a sponsored pressrelease andis 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.
2 days agocryptodaily
Biggest Price Hikes in September: Uniglo (GLO), Ravencoin (RVN), Celsius (CEL) and Terra (LUNA)
September is said to be a sleepy month for Bitcoin (BTC). Historically, the price of Bitcoin has been sluggish at the start of the ‘ber’ months. However, the same is not the case for Uniglo (GLO), Ravencoin (RVN), Celsius (CEL), and Terra (LUNA). The four projects might be a mixture of familiar and not-so-familiar names. But one thing is constant: their prices have been soaring this month. Uniglo (GLO) Uniglo (GLO) is a top gainer this September. It is a new decentralized finance (DeFi) project based on Ethereum that recently deployed a special Community Asset Vault. The Uniglo community is busy selecting which digital currencies and non-fungible tokens (NFTs) to include in the vault. As a decentralized autonomous organization (DAO), each GLO investor would have a say in what assets to accumulate for the vault. The selection is crucial since the vault was designed to promote the price of GLO. As the curated assets appreciate, the GLO token increases its value, and investors benefit. Ravencoin (RVN) Ravencoin is showcasing some growth this month as well. As a Bitcoin fork, Ravencoin is a system of computers for peer-to-peer transactions. It also offers interesting and innovative features that enable a platform for developing a new class of crypto assets. A key feature of Ravencoin is its block time of only one minute, which is impressive compared to Bitcoin’s 10 minutes. Celsius (CEL) The price of Celsius’ CEL is also increasing despite an ongoing case before the Bankruptcy Court. The project announced its plans to give back $50 million worth of digital assets owed to clients. After realizing a $2.85 billion loss earlier this year, Celsius filed for Chapter 11 bankruptcy, which led to the freezing of over a million client accounts. Terra (LUNA) The Terra project is also on a resurgence. As you may already know, Terra experienced a devastating collapse in May caused by the downfall of its UST stablecoin and LUNA native token. This collapse resulted in a market-wide crypto crash. However, the team behind Terra is focused on recovery efforts, which seem to be paying off, as the price of LUNA increased by over 200% in mid-September. Final thought The four projects above prove to be top gainers. Uniglo particularly has strong potential to make gains. Its token GLO is currently on presale and is set to launch publicly in the middle of November. Research and learn more about this decentralized project and how it offers easy diversified investment opportunities. For More Information: Join Presale: https://presale.uniglo.io/register Website: https://uniglo.io Telegram: https://t.me/GloFoundation Discord: https://discord.gg/a38KRnjQvW Twitter: https://twitter.com/GloFoundation1 Disclaimer: This is a sponsored pressrelease andis 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.
2 days agocryptodaily
GitHub Reverses Tornado Cash Ban After OFAC Clarification
GitHub has announced that it has reversed a complete ban on Tornado Cash, meaning code repositories for the Ethereum-based mixer were relisted on the site. However, the code repositories remain restricted to “read-only.” After this partial restoration, developers have been urging GitHub to restore the code repositories fully. A Partial Restoration GitHub is the most widely used software hosting platform on the internet. The platform has announced that it is lifting a ban on Tornado Cash’s open-source repositories. Despite the lifting of the ban, the code remains in “read only” mode, which means the code cannot be worked on as of now. GitHub lifted the ban on Tornado Cash after the Office of Foreign Assets Control (OFAC) clarified that the sanctions against Tornado Cash did not apply to users sharing or reading the app code. The U.S. Treasury Department, in an official post, clarified the details around the ban, stating, “U.S. persons would not be prohibited by U.S. sanctions regulations from copying the open-source code and making it available online for others to view, as well as discussing, teaching about, or including open-source code in written publications.” Ethereum developer Preston Van Loon announced the news on Twitter, stating, “@github has unbanned the @TornadoCash organization and contributors on their platform!” The Sanctions Against Tornado Cash Tornado Cash and select Ethereum addresses linked to the application were blacklisted by the Office of Foreign Assets Control (OFAC) under the Specially Designated National List. The ban was put in place after it emerged that cybercriminals were using the application to launder money. Reports had also emerged that a notorious hacking group linked to North Korea had used the application in the past. As a result, GitHub removed all Tornado Cash to comply with the ban. However, after the clarification issued by the OFAC, GitHub modified the ban, although full functionality could be some way off, depending on the sanctions. Ethereum Developers Call For Complete Reversal Several Ethereum developers have now urged GitHub and other platforms that host the Tornado Cash code to reverse the bans in its entirety, stating that the code is protected under the First Amendment of the U.S. Constitution. Chief among them was Ethereum core developer Preston Van Loon, who had urged GitHub to relist the Tornado Cash code on the 13th of September. “Hey @github, please unban @TornadoCash code repositories now. OFAC has stated: ‘U.S. persons would not be prohibited by U.S. sanctions regulations from copying the open-source code and making it available online for others to view’” He called the relisting of the Tornado Cash code a step in the right direction, stating, “But that is progress from an outright ban. I still encourage GitHub to reverse all actions and return the repositories to their former status.” Tornado Cash has been blacklisted since the 8th of August, when the OFAC banned residents of the United States from accessing or using the application. It also blacklisted 44 USD Coin and ETH addresses that were associated with the application. Concerns In The Crypto Community Tornado Cash allows users to protect their privacy and anonymity by hiding their crypto transactions. It does this by obfuscating information trails on the blockchain. The application came under intense regulatory scrutiny after the OFAC announced its ban, triggering developer arrests after allegations of money laundering surfaced. The controversy around Tornado Cash has raised significant concerns and questions within the developer and cryptocurrency community. Developers are increasingly concerned about the legal ramifications of writing open-source code. Major crypto exchanges and companies have also waded into the fray, with Coinbase publicly supporting a lawsuit filed by Tornado Cash users against the OFAC. Ethereum co-founder has also publicly stated that he has used Tornado Cash to donate funds towards Ukraine to ensure the privacy of the recipients. 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.
2 days agocoindesk
California 'BitLicense' Bill Vetoed by Governor Gavin Newsom
California Governor Gavin Newsom vetoed Assembly Bill 2269, saying it would be "premature" to create a licensing regime specific to crypto without considering feedback from stakeholders and the cost of a new licensing structure.
2 days agocryptopotato
Lebanese People Turn to Crypto Amid the Country’s Financial Collapse: Report
Some residents of Lebanon have started looking for alternative financial tools, specifically stablecoins, due to the economic knockdown of the country.
2 days agocryptodaily
IRS Issues Summons on Users Who Don’t Pay Taxes on Crypto
The U.S. Internal Revenue Service (IRS) has been granted the authority to issue a “John Doe” summons to New York-based M.Y. Safra Bank. The summons forces the bank to hand over information about its customers who have failed to declare and pay taxes on cryptocurrency transactions conducted over crypto exchange SFOX. On Thursday it was announced by U.S. Attorney Damian Williams, Deputy Assistant Attorney General David Hubbert, and IRA Commissioner Charles Rettig that U.S. Judge Paul Gardephe authorized the IRS to issue John Doe summons on New York-based M.Y. Safra Bank. This is a term used when the IRS investigates unknown taxpayers. The summons orders the bank to submit information regarding customers that may have failed to report and pay taxes on their cryptocurrency transactions. To support the summons, the IRS is claiming that holders of cryptocurrencies often fail to report their tax returns on any profit made from crypto. The IRS is looking specifically at users of the prime dealer SFOX. Williams said in a statement: Taxpayers who transact with cryptocurrency should understand that income and gains from cryptocurrency transactions are taxable. Adding that information sought by the summons “will help to ensure that cryptocurrency owners are following tax laws.” Since 2015, SFOX’s 175,000 registered users have collectively completed over $12 billion in crypto transactions. The firm connects crypto exchanges, over-the-counter virtual currency brokers, and liquidity providers. IRS Commissioner Charles Rettig said: The government’s ability to obtain third-party information on those failing to report their gains from digital assets remains a critical tool in catching tax cheats. He added that authorisation of the summons “reinforces our ongoing, significant efforts to ensure that everyone pays their fair share.” He added: Taxpayers earning income from digital asset transactions need to come into compliance with their filing and reporting responsibilities. 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.
2 days agocryptodaily
Midas Investments releases new CeDeFi strategy
Over the last quarter, the underlying risks of CeFi have become evident to the global crypto community. While the accessibility, fixed interests, and cross-chain services of CeFi are unmatched by DeFi services, its lack of transparency and control is significantly concerning for the users. As the recent downfall of Celcius has shown, trusting your digital assets with centralized third parties can be significantly risky, particularly when the bear market kicks in. Midas Investment, a custodial crypto-investment platform is solving this issue by merging CeFi and DeFi strategies into the innovative CeDeFi model - the best of both worlds. This innovative model combines the user-friendly experience of CeFi with several DeFi strategies that can continuously maintain high-yield prospects and transparency. Midas has recently launched its new CeDeFi strategy called “GLP” - which generates 20-30% projected ROI (in ETH) for leveraged traders on the GMX exchange. This new strategy is poised to create sustainable income generation opportunities from leveraged traders during any market conditions. What is the GLP CeDeFi strategy? GLP is the new index liquidity provision strategy innovated by Midas Investments. It provides blue-chip liquidity for leveraged traders on GMX, a decentralized perpetual exchange. How does it work? Users on the GMX exchange supply liquidity into the GLP index. They earn a variable fee generated from the trader’s liquidation and from trader losses in the exchange. This strategy allows leveraged traders to retain 20-30% APR in ETH. The GLP index is very unique in terms of how its formulated. Nearly 98% of the index is composed of tier-1 tokens, including Bitcoin (BTC), Ethereum (ETH), and major stablecoins such as FRAX, USDC, USDT, and DAI. The stablecoins account for around 45% of the index, while the remaining 55% are BTC and ETH. So, when users buy GLP shares for stablecoins, they will also effectively enter a 0.25x soft long position on Bitcoin and Ethereum. This unique indexing mechanism will allow GLP shareholders to generate a strong and sustainable leveraged income. Once the strategy is launched, Midas will issue GLP shares for its users through the index token, which they can swap into on the GMX exchange. What are the sources of yield in GLP? GLP rewards its leveraged shareholders from two distinct sources. Around 20% of the yield comes from the fees paid by the traders when opening and closing their leveraged positions on the GMX exchange. Basically, for liquidation, they swap assets using GLP liquidity, which ultimately contributes a portion of the fees to the index shareholders. The second source of rewards is the losses incurred by traders. When traders lose money on the crypto market, their net losses are GLP’s net profits. Around 85% of the GLP yield comes from this source. Rewards are always given in ETH. The pros and cons of the GLP index strategy GLP is a very low-risk investment strategy to receive exposure to BTC and ETH. What’s more unique is that the index will particularly perform well during any market conditions, when traders are most likely to lose money. Being a liquidity index provision, GLP can potentially grow during high volatility, because most traders will experience negative PnL (profit and loss). This functional mechanism provides a high and sustainable yield for GLP holders. In terms of cons, users should understand that GLP is not the same as a single-sided liquidity provision. When depositing a token of their choice to buy the index shares, they will inevitably gain exposure to other tokens on the exchange. For instance, you might be depositing a stablecoin, but your index share will also be exposed to BTC and ETH. So, if one of the tokens in the index loses its value, GLP will lose value too. Also, in a bull market, trader profits will incur net losses on the index. Is CeDeFi the future? As the new GLP strategy from Midas shows, CeDeFi can potentially solve a lot of the major issues in the leverage trading market. By deploying such strategies on DeFi protocols, platforms can maintain transparency and high yield prospects. However, being governed by a custodial platform like Midas, the ease-of-access and comprehension are still intact. CeDeFi provides a very simple and easy approach to hedged complicated DeFi strategies which use several protocols to generate yield and are hard to be managed in one hand due to changes of market conditions,volatility, liquidity volume changes, and etc.. At the same time, allowing users to have full transparency and control over their funds. Midas Investments is innovating this CeDeFi model to lower the high-entry barrier of crypto and DeFi. Leveraging the CeDeFi model has allowed the platform to provide vetted yield opportunities at lower fees for its investors. First three CeDeFi investment strategies “Soft Long”, “Soft Short”, and “DeFi Token Farming” just a month ago, showed great user interest and gathered more than $4 million TVL from more than 1,500 active users. Midas is the first crypto platform to transparently talk about yield strategies and officially publish its monthly financial reports recapping product performance and portfolio structure - maintaining a fully transparent infrastructure. 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
3 days agocointelegraph
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About SpectrumNetwork

The live price of SpectrumNetwork (SPEC) today is ? USD, and with the current circulating supply of SpectrumNetwork at 949,512,740 SPEC, its market capitalization stands at ? USD. In the last 24 hours SPEC price has moved 1.052174 USD or 40981.62% while 31,593 USD worth of SPEC has been traded on various exchanges. The current valuation of SPEC puts it at #0 in cryptocurrency rankings based on market capitalization.

Learn more about the SpectrumNetwork blockchain network and how it works or follow the price of its native cryptocurrency SPEC and the broader market with our unique COIN360 cryptocurrency heatmap.

SpectrumNetwork Price? USD
Market Rank#0
Market Cap? USD
24h Volume? USD
Circulating Supply949,512,740 SPEC
Max SupplyNo Data
Yesterday's Market Cap999,077,300 USD
Yesterday's Open / Close0.000026 USD / 1.0522 USD
Yesterday's High / Low1.05526 USD / 0.00000006 USD
Yesterday's Change
40,981.62% ( 1.052174 USD )
Yesterday's Volume31,593.01 USD
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