The extreme heat of the summer has subsided, so crypto mining has been given the green light as it can no longer be blamed for stressing the electricity grid.
Following the announcement of a few days ago, the decentralized multiverse platform OVR, which unites the physical and virtual worlds through Augmented Reality, has launched “The ARwards” contest open to all creators who are looking for an opportunity to gain wide visibility and possibly win interesting prizes.
First of all, The ARwards is completely free for any participant who will simply be asked to register. Creators will be required to provide: username, password, email and nationality, thus completing the registration in less than five minutes.
The platform offers content creators the opportunity not only to project their 3D experiences to the world, but also to encourage competition among creators to make augmented reality experiences even better.
In concrete terms, through an OVRLand NFT, the famous virtual hexagon developed by OVR to create three-dimensional objects on top of it, participants can upload a 3D model to the dedicated workspace, edit it, refine it and finally send it to the OVR team for approval.
Once the project has been approved, the content will be shown in the list of candidates for the competition and can receive its vote. Each registered user of the OVR platform will be able to vote until the end of the competition according to three specific criteria, namely creativity, design and relevance of the theme.
Users can vote regardless of whether they have OVR tokens in their wallet or not. However, the vote of users who have tokens in their wallet will carry more weight due to the fact that the contest uses a quadratic voting system powered by blockchain.
In addition to securing a space on the official website where the model created is seen by lots of users, participants will be able to win additional prizes in OVR tokens which, at the time of publication, are worth $0.69 and can be traded on Uniswap, ZT, Gate.io, BitMart and PancakeSwap.
It is already possible to admire the works via representative videos, to read the original captions written by the creators and to vote for the NFT OVRland with the 3D work you enjoy the most.
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Billy Markus, the co-founder of Dogecoin, explained on Wednesday that an Ethereum bridge to the Doge network would bolster the dogecoin ecosystem. Markus also said that non-fungible token (NFT) markets “would help Dogecoin” as well.
The popular crypto asset dogecoin (DOGE) has gained a whopping 7,500% during the last 12 months and reached a high of $0.731 per unit on May 8, 2021. However, DOGE is down 72% since that all-time high and 25.4% during the last month.
While the Dogecoin co-founder Jackson Palmer criticized the crypto world and said it was managed by powerful cartels, Billy Markus speaks about crypto in a positive manner.
On Wednesday, Markus tweeted about the meme-based crypto network he helped create and discussed how the project could be helped by adding two things.
“Two things I believe would help Dogecoin: [The] completion of DOGE
ETH bridge, [and] NFT platforms (e.g. Opensea) allowing for the DOGE-ETH token to be used for purchases,” Markus added:
NFT purchasing is [in] high demand with crypto. Allowing for DOGE purchases of NFTs greatly increases its utility.
Ethereum BridgeMarkus’s idea follows the suggestions from the co-founder of Ethereum Vitalik Buterin during the first week of September.
“Personally, I hope that doge can switch to PoS soon, perhaps using Ethereum code,” Buterin said at the time. “I also hope they don’t cancel the 5b/year annual PoW issuance, instead they put it in some kind of DAO that funds global public goods. Would fit well with dogecoin’s non-greedy wholesome ethos.”
Meanwhile, a number of individuals liked Markus’s concept of an ETH DOGE bridge and NFT utility. “DOGE being implemented into the NFT ecosystem would be a huge benefit to the community,” one individual said in response to the DOGE co-creator’s tweet.
A Twitter account dubbed “DogeX” tweeted: “HEY Billy Markus our metaverse developer spoke with Steven Steele about this last week. We are actively trying to work with you on this concept while we build out the Doge X ecosystem.”
What do you think about the ideas the co-creator of DOGE shared on Twitter? Let us know what you think about this subject in the comments section below.
Former federal prosecutor Katie Haun says that regulators really need to take stock of the fact that we’re beyond just financial use cases of cryptocurrency. “There’s much more to crypto than that,” she said, adding that “Regulation cannot be one size fits all.” Haun further said that crypto is not the Wild West and the industry wants clarity, not lack of regulation.
Katie Haun talked about cryptocurrency and its regulation at CNBC’s Delivering Alpha Conference Wednesday.
Haun is a general partner at venture capital firm Andreessen Horowitz. She previously spent a decade as a federal prosecutor focusing on fraud, cyber, and corporate crime alongside agencies including the Securities and Exchange Commission (SEC), Federal Bureau of Investigation (FBI), and Treasury. She created the government’s first cryptocurrency task force and led investigations into the Mt. Gox hack and the corrupt agents on the Silk Road task force.
She explained that there’s “still such a focus on the financial applications of the crypto ecosystem.” While acknowledging that “it makes sense” regulators would think of crypto as synonymous with financial use cases, she opined:
Regulators really need to take stock of the fact that we’re beyond just financial use cases. There’s much more to crypto than that … Regulation cannot be one size fits all. We think regulation plays a really important role.
Regarding whether the crypto space is like the Wild West, as suggested by SEC Chairman this week, the former federal prosecutor said: “There’s this myth that there’s the Wild West and that no agencies have any regulation that speaks to crypto. And that’s not the case.”
She explained that the Treasury Department put out guidance on cryptocurrencies in 2013, noting that “a lot of innovators and responsible actors and companies in the space started following that guidance, although it was difficult to implement.”
Haun proceeded to address another myth about crypto. She said “a lot of people” believe that “those in the crypto industry don’t want regulation.” Debunking the myth, she affirmed:
That is, actually, I can say a myth. It’s not that the industry does not want regulation. I always say it wants clarity. But it also does not want to be treated as a monolith.
Tesla CEO Elon Musk, however, said Wednesday that governments should “do nothing” about crypto instead of trying to regulate and control it.
Haun stressed the need for “even application.” She explained that those in the crypto industry, “who were trying to make good faith efforts, who were going above and beyond in terms of compliance,” are “the ones that are being really examined under the microscope.”
Meanwhile, companies and platforms that “made very little effort in terms of following regulations and laws” are “really getting a free pass.” She emphasized:
I think what we need is … even application. I think that’s really important and I’m hopeful that the SEC will do that. And, under Chairman Gensler leadership, that will happen.
Do you agree with Katie Haun? Let us know in the comments section below.
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, explains that some laws provide “significant investor protections” for exchange-traded funds (ETFs), including those seeking to invest in bitcoin futures. He looks forward to seeing the SEC’s review of such filings.
SEC Chairman Gary Gensler talked about crypto regulation and bitcoin exchange-traded funds (ETFs) at the Financial Times’ Future of Asset Management North America conference Wednesday.
In prepared remarks, he discussed “investment vehicles providing exposure to crypto assets,” noting that “Earlier this year, a number of open-end mutual funds launched that invested in Chicago Mercantile Exchange (CME)-traded bitcoin futures.”
Gensler added, “Subsequently, we’ve started to see filings under the Investment Company Act [’40 Act] with regard to exchange-traded funds (ETFs) seeking to invest in CME-traded bitcoin futures,” elaborating:
When combined with the other federal securities laws, the ’40 Act provides significant investor protections for mutual funds and ETFs. I look forward to staff’s review of such filings.
In August, Gensler similarly said he looked forward to the staff’s review of ETF filings, “particularly if those are limited to these CME-traded bitcoin futures.”
He also emphasized at the conference on wednesday the need for investor protection. “This crypto space is now certainly of a size that without those investor protections of banking, insurance, securities laws, [and] market oversight, I do think somebody is going to get hurt. A lot of people are likely to get hurt,” Gensler was quoted by the Financial Times as saying.
The chairman has been urging crypto companies to come in and discuss whether they need to register with the SEC. Without naming specific platforms, he said, some companies have “said things publicly about some of those conversations.” Recently, Coinbase took to Twitter to talk about its lending product that the SEC threatened to sue over if it is launched. CEO Brian Armstrong called the securities watchdog’s behavior “sketchy.” The Nasdaq-listed company subsequently abandoned its plan to launch the product.
Gensler said Wednesday:
There are going to be times that people come in and we say: ‘Register.’ It’s not going to be everybody comes in and says: ‘Can you please tell us we are not a security.’
Do you think the SEC will approve a bitcoin ETF or bitcoin futures ETF this year? Let us know in the comments section below.
Data shows that crypto holders are increasingly shifting to DeFi protocols and DEXs as China continues its cryptocurrency crackdown and fears of heavy-handed regulation scare US-based traders.
Orlando Bravo, the billionaire who co-founded private equity firm Thoma Bravo, says he is very bullish on bitcoin, expecting the cryptocurrency to “increase significantly.” He described: “Crypto is just a great system. It’s frictionless. It’s decentralized. And young people want their own financial system. So it is here to stay.”
Orlando Bravo, co-founder and managing partner of private equity firm Thoma Bravo, talked about bitcoin Wednesday at CNBC’s Delivering Alpha conference. His net worth as of Sept. 29 is $6.3 billion, according to Forbes. Bravo is reportedly the first Puerto Rican-born billionaire.
“How could you not love crypto?” he said at the conference, elaborating:
Crypto is just a great system. It’s frictionless. It’s decentralized. And young people want their own financial system. So it is here to stay.
“The underlying technology of blockchain, regardless of what protocol or what system you are building upon, can be very powerful and sometimes provides better use cases than data-based software,” the billionaire investor added.
In July, Thomas Bravo participated in a funding round for FTX Trading Ltd., owner and operator of the cryptocurrency exchange FTX.
Bravo also revealed Wednesday that he has personally invested in bitcoin, stating:
For me, it’s pretty simple. More people are going to use in the future than today, and it’s going to be more established. Institutions are just beginning to go there, and once that happens, I think it will increase significantly over the years. I’m very bullish.
What do you think about billionaire Orlando Bravo’s comments on bitcoin and crypto? Let us know in the comments section below.
$700 million in BTC options expire on Friday, and derivatives data signals that bears are positioned to profit from a sub-$45,000 Bitcoin price.
One of the backbones of crypto market in today’s world are decentralized exchanges that took the world by the storm in recent years. And as the crypto exchange market is moving and developing rapidly, it is absolutely no surprise that the exchanges have to evolve in accordance.
Therefore, today, The CEO of Soldex.ai, John Robertson will present you with the next step in crypto exchanges, which is the AI powered trading that may be the future of the token trading.
One of the most salient blockchain in the recent times is Solana. It took the world by storm while offering many benefits, hence it has been chosen for the Soldex.ai. Soldex.ai was created to solve certain issues caused by order-matching centralized exchanges and the trust-less custody found in the exchanges of the today. Soldex.ai will power the new avalanche of flexible financial markets. The protocols will serve as a foundational layer for such things as liquidity, custody, market making and the settlement. As mentioned previously Solana has some benefits compared to other DEXs such as Ethereum. Those would be an extremely fast transaction speed, which can hit up to 50,000 transactions per second and as if that would not be enough, the gas fees are only $0.00025 per transaction. For comparison, Ethereum can only squeeze 30 transactions per second and boasts menacing transaction fees of $12.
Since the AI is overtaking more and more of the industries around the world it is no surprise that Crypto Exchanges will not be left behind. The initial driving force behind the Solana DEX will be the implementation of the AI trading bots, which will create trading strategies and will work relentlessly 24/7. Later, the traders will be able to create their own bot trading strategies and lend them to others for the commission fee. Consequently this will incentivize community for the further development of Soldex.ai through voting rights.
One of the main reasons for the demand for automated trading is the fact that 80% of traders loose due to the blunders they make. Therefore, Soldex thought that the DEX will give people the ability to choose the trading strategy that fits them best. Different bots are being developed according to the criteria such as: margins; trading risks; 90 day success rate; trading pairs. It will also include the different criteria in the future.
As previously mentioned, the exchange is being built on Solana. The team is hoping that it will attract the new users due to the rapidness of the trades and the technical potential in the future. Also one thing that new traders usually find annoying is the entire debacle that they have to go trough while opening new accounts. Soldex fully recognized this and have managed to make Soldex.ai completely permission-less, that is to say no KYC and ID checking, so you could jump into trading, providing liquidity and staking in absolutely no time.
Solana will have its own toke SOLX. Soldex is hoping that the token will help to fulfill the mission, which is to have a transparent revenue system, which would be fair and profitable.
The 30% of the tokens will go through the private sale, they make the majority. Around 5% will be released for the public sale. 14% will be allocated for the liquidity and the rest will be for the developers, advisors and others.
The token itself will be used for protocol governance, transaction fees and staking for profits. But in the long term the team is planning to make a bunch of improvements as Solana blockchain offers a great opportunity for technical growth in the future.
Besides the ability to make a profit on Soldex.ai, people will also have access to Soldex AI Academy. The team is hoping that it will help to build a strong community and help users to become more familiar with Solana and DeFi. Other purposes are that it will help new developers to start building, expose people to the technology offered by Solana and overall to unite the community.
As of today Soldex have seen a great interest in the SOLX token. They are on round II of sales since the round I was oversubscribed. The current price for the token is $0.06 however, on the launch on December 10 it will be $0.1. “We are happy to see high participation of the private investors, funds and many more,” CEO John Robertson Explains.
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On September 27, the digital currency firm Coinbase announced that U.S. customers will soon be able to directly deposit their paycheck into their Coinbase accounts. With the new direct deposit feature, Coinbase customers can leverage their funds to make investments, generate yield, or add value to their Coinbase prepaid debit card.
Coinbase has come a long way since the firm was created in 2012, and now as a publicly-listed company, the crypto firm offers a myriad of services and is still one of the top gateways to the crypto world. On Monday, the company’s senior director of product, Prakash Hariramani, published a blog post explaining how U.S. Coinbase customers will soon be able to directly deposit their paycheck into their Coinbase accounts.
“Over the next few weeks,” Hariramani announced, “we’re rolling out the ability for customers in the U.S. to deposit their paycheck into Coinbase to more easily make regular crypto trades, spend on Coinbase Card, earn crypto rewards, and more. Get paid in crypto or in U.S. dollars and deposit as much or as little of your paycheck as you want. The future of payroll is coming.” Hariramani’s post adds:
Now, you’ll save time on the extra steps it takes to move money so you can immediately earn interest on your income or earn crypto rewards with your Coinbase Card. Plus, you’ll pay zero transaction fees on direct deposit funds so you have instant and free access to the crypto economy.
According to Hariramani, users can deposit as little or as much as they want from their paychecks and can get the funds paid in over 100 crypto assets. The funds can be transferred into stablecoins like USDC and DAI, or remain as USD, as well. Hariramani says the setup can be done easily without leaving the Coinbase application.
“Tap direct deposit in the settings, follow the instructions, and find your current payroll company or employer, and we’ll automatically update your paycheck allocation,” the Coinbase executive said. If you’d prefer to set up direct deposit manually, we’ll provide instructions on what to share with your HR department or employer payroll website. You can modify your direct deposit preferences at any time within your settings,” Hariramani concludes.
The Coinbase direct deposit feature adds more ways for people to access crypto which increases the crypto economy’s accessibility overall. There are a few other firms that offer direct deposit solutions in order to access crypto, like the company Bitwage. Founded in 2014, Bitwage specializes in crypto payroll services and human resources (HR) for companies with employees that want to be paid in digital assets.
What do you think about Coinbase adding direct deposit access for U.S. customers to its crypto markets? Let us know what you think about this subject in the comments section below.
