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  • Stablecoin Issuer Tether Completes SOC 2 Type 1 Audit

    Stablecoin Issuer Tether Completes SOC 2 Type 1 Audit

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    Tether, the USDT stablecoin issuer, announced on April 1 that it had completed the System and Organization Controls (SOC) 2 Type 1 Audit, the highest level of security compliance achievable. Tether stated that the audit’s completion demonstrates the robust information technology control measures it has in place, ensuring the safety of its systems. Gold Standard […]

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  • Breaking Boundaries: Dubai Set to Redefine Blockchain Technology at WBS Dubai | by BitMedia Buzz | Apr, 2024

    Breaking Boundaries: Dubai Set to Redefine Blockchain Technology at WBS Dubai | by BitMedia Buzz | Apr, 2024

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    BitMedia Buzz

    Our PR partner, yourPRstrategist is a proud media partner of the World Blockchain Summit and we are pleased to extend their 15% discount to our community. Discount code: STRAT15

    Dubai, U.A.E., April 2, 2024 — The 29th edition of the World Blockchain Summit, organised by Trescon and co-hosted by Sun Minimeal, returns to Dubai on 22–23rd April 2024 at the iconic JW Marriott Hotel Marina. This highly anticipated event is set to become a major focal point for global web3 and blockchain innovators to take note of the region’s efforts towards a web3-driven future. This eagerly awaited edition is poised to become a critical hub for global web3 and blockchain innovators, highlighting UAE’s efforts towards a future driven by web3 technology.

    The Summit, one of the longest-running global blockchain series, has become a pivotal platform for leading and emerging blockchain and web3 innovators, visionaries, thought-leaders and policymakers to deliberate over the trending innovations and solutions that are driving the inclusion of blockchain-based solutions in critical sectors of the global economy.

    Benefiting from supportive government policies and a shift towards a digital-first economy, Dubai is solidifying its position as a leading global hub for blockchain innovation, enhancing its digital infrastructure comprehensively. The launch of the Dubai AI & Web3 Campus by the DIFC, alongside the Virtual Assets Regulatory Agency (VARA) Dubai, has attracted global investors and innovators eager to play a pivotal role in nurturing a dynamic digital ecosystem within the UAE.

    The Summit will host over 2,000 web3 decision-makers, 300+ investors, and more than 50 speakers. The event will also feature the regional finale of the Startup World Cup organised by the renowned US-based venture capital firm Pegasus Ventures, offering the winner a chance to secure a spot to pitch at the global finals in San Francisco, with a potential prize of US$1 million in funding.

    #WBSDubai showcases compelling keynote speeches, use-case presentations by prominent blockchain visionaries and experts, and engaging panel discussions on pivotal topics shaping the web3 landscape. Some of the themes that will be explored at the event include 2024 Blockchain Ecosystem Market Analysis, Decrypting the Regulatory Landscape of Virtual Assets, Emerging Trends in Enterprise Blockchain Adoption, The rise of AI-Blockchain integration and more.

    Some of the notable speakers attending the event include:

    • Pascal Gauthier, Chairman & CEO, Ledger
    • Roham Gharegozlou, Co-founder and CEO, Dapper Labs
    • Mike Belshe, Co-Founder & CEO, BitGo
    • Bertrand Levy, VP Global Partnerships, SANDBOX
    • George Gvazava, Chief Crypto Officer, Bank of Georgia
    • Miriam Kiwan, Vice President of MEA, the issuer of leading regulated stablecoin, USDC., Circle
    • Yosuke Yoshida, Co-CEO of EMURGO Middle East & Africa, CEO of EMURGO Kepple Ventures, EMURGO
    • Bandar Altunisi, Head of Development for Binance in Saudi Arabia Head of Institutional Relationships for Binance Dubai (FZE), Binance
    • Reece Merrick, Managing Director, Middle East & Africa, Ripple

    Sharing their enthusiasm about the event, George Gvazava, Chief Crypto Officer, Bank of Georgia said, “In the realm of innovation, the World Blockchain Summit serves not only as a gathering of minds but as a crucible, where ideas are forged into the connections, use-cases and technologies of tomorrow.”

    “In the heart of Dubai’s dynamic tech landscape, blockchain technology stands as a cornerstone in the UAE’s digital transformation. Trescon plays a pivotal role, connecting global entrepreneurs and startups with leading investors and experts. The World Blockchain Summit offers a prime venue for unveiling the latest in blockchain innovation and insights.” said Sharath Kumar, Commercial Director, Trescon

    Registration for the World Blockchain Summit Dubai is still open. Seize the chance to book your slots today and prepare to be a part of another thrilling blockchain and crypto event of the year. Don’t let this opportunity slip away!!

    The 29th edition of the World Blockchain Summit is supported by:

    Co-Host — Sun Minimeal

    Co-Powered By — Ecrox Chain

    Gold Sponsor — Medifakt, Crypto2Cash, Anbruggen,

    Silver Sponsor- Kreation, Coingames, Reat Capital

    Lanyard Sponsor- M2

    Badge Sponsor- Ledn

    Bronze Sponsor- BitGo, Block Convey, M2

    Exhibitors- Reltime, Qoneqt , C# Corner

    Official Accommodation Partner- HotelPlanner

    Business Broadcast Partner — CNBC Arabia

    Official Newspaper Partner- The Fintech Times

    Official Digital PR Distribution Partner — ZEX PR Wire

    ABM Partner- Demandify

    Association Partners- Crypto and Blockchain Association, Blockchain Council, Asia Web3 Alliance Japan, European Blockchain Association

    Prime Media Partner- Demandteq

    About World Blockchain Summit (WBS)

    World Blockchain Summit (WBS) is an event by Trescon that supports the growth of the blockchain, crypto and Web3 ecosystems globally.

    WBS is the world’s longest-running blockchain, crypto, and web3-focused summit series. Since our inception in 2017, we have hosted more than 20 editions in 11 countries as we strive to create the ultimate networking and deal flow platform for the Web3 ecosystem. Each edition brings together global leaders and emerging startups in the space, including investors, developers, IT leaders, entrepreneurs, government authorities, and others.

    To book your tickets, visit https://www.worldblockchainsummit.com/dxb-apr-24.

    Media Contact

    Shadi Dawi

    Director, Public Relations & Partnerships — MENA, Trescon

    shadi@tresconglobal.com

    +971 55 498 4989

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  • Crypto.com Unveils Tailored Trading Platform for Korean Market

    Crypto.com Unveils Tailored Trading Platform for Korean Market

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    Crypto.com, a global cryptocurrency exchange, unveiled plans
    today (Tuesday) to introduce a specialized trading platform application
    designed exclusively for the Korean market. The application, tailored to cater
    to the preferences and needs of Korean users, is set to be launched on April
    29, 2024, offering trading between various cryptocurrencies.

    With this development, Crypto.com becomes the first
    international cryptocurrency exchange to venture into the Korean market,
    signaling its focus on expanding its global footprint. The Chief Operating
    Officer of Crypto.com, Eric Anziani, highlighted Korea’s tech-savvy populace
    and its inclination towards embracing innovative technologies as key factors
    driving the decision to focus on the Korean market. Moreover, he emphasized
    Korea’s influence as a cultural powerhouse, indicating the exchange ‘s intention
    to support Korean creators and artists through strategic partnerships.

    Eric Anziani, Chief Operating Officer of Crypto.com, Source: LinkedIn

    “The first product we will be launching in Korea is the
    crypto.com app, which is our most popular product globally. It’s a fully mobile
    product offering a convenient and safe way to buy, sell and store digital
    assets, including non-fungible tokens, enabling Korean customers to access
    global prices in a regulated manner,” he commented.

    Patrick Yoon, the General Manager of Crypto.com’s Korean
    operations, emphasized the company’s dedication to catering to the unique
    demands of the Korean market. He stated that Crypto.com has been prioritizing
    localization efforts for the past two and a half years, ensuring that its
    services align with the preferences and regulatory requirements of Korean
    users.

    “Once our coin trading service is stabilized in the
    Korean market, we plan to ultimately advance into the Korean won-based trading
    market in the future,” Yoon added.

    Navigating Regulatory Landscape for Korean Market Entry

    Patrick Yoon, General Manager of Crypto.com, Korea, Source: LinkedIn

    One such regulatory requirement in Korea mandates
    cryptocurrency exchanges to establish partnerships with commercial banks to
    verify the real-name accounts of their customers. Yoon revealed ongoing
    discussions with local banks to secure potential partnerships for real-name
    account authentication.

    Presently, there are five won-based cryptocurrency exchanges
    authorized by Korean financial authorities, including UpBit, Bithumb, Coinone,
    Korbit, and GOPAX. By entering the Korean market, Crypto.com aims to provide
    users with an alternative trading platform while fostering healthy competition
    and innovation in the local cryptocurrency ecosystem.

    Crypto.com, a global cryptocurrency exchange, unveiled plans
    today (Tuesday) to introduce a specialized trading platform application
    designed exclusively for the Korean market. The application, tailored to cater
    to the preferences and needs of Korean users, is set to be launched on April
    29, 2024, offering trading between various cryptocurrencies.

    With this development, Crypto.com becomes the first
    international cryptocurrency exchange to venture into the Korean market,
    signaling its focus on expanding its global footprint. The Chief Operating
    Officer of Crypto.com, Eric Anziani, highlighted Korea’s tech-savvy populace
    and its inclination towards embracing innovative technologies as key factors
    driving the decision to focus on the Korean market. Moreover, he emphasized
    Korea’s influence as a cultural powerhouse, indicating the exchange ‘s intention
    to support Korean creators and artists through strategic partnerships.

    Eric Anziani, Chief Operating Officer of Crypto.com, Source: LinkedIn

    “The first product we will be launching in Korea is the
    crypto.com app, which is our most popular product globally. It’s a fully mobile
    product offering a convenient and safe way to buy, sell and store digital
    assets, including non-fungible tokens, enabling Korean customers to access
    global prices in a regulated manner,” he commented.

    Patrick Yoon, the General Manager of Crypto.com’s Korean
    operations, emphasized the company’s dedication to catering to the unique
    demands of the Korean market. He stated that Crypto.com has been prioritizing
    localization efforts for the past two and a half years, ensuring that its
    services align with the preferences and regulatory requirements of Korean
    users.

    “Once our coin trading service is stabilized in the
    Korean market, we plan to ultimately advance into the Korean won-based trading
    market in the future,” Yoon added.

    Navigating Regulatory Landscape for Korean Market Entry

    Patrick Yoon, General Manager of Crypto.com, Korea, Source: LinkedIn

    One such regulatory requirement in Korea mandates
    cryptocurrency exchanges to establish partnerships with commercial banks to
    verify the real-name accounts of their customers. Yoon revealed ongoing
    discussions with local banks to secure potential partnerships for real-name
    account authentication.

    Presently, there are five won-based cryptocurrency exchanges
    authorized by Korean financial authorities, including UpBit, Bithumb, Coinone,
    Korbit, and GOPAX. By entering the Korean market, Crypto.com aims to provide
    users with an alternative trading platform while fostering healthy competition
    and innovation in the local cryptocurrency ecosystem.



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  • Bitcoin Halving Inches Closer With Less Than 2,900 Blocks Left

    Bitcoin Halving Inches Closer With Less Than 2,900 Blocks Left

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    The Bitcoin Halving is fast approaching, with less than 2,900 blocks left before miners’ rewards are cut in half. This event, projected to take place sometime in April, is significant as Bitcoin’s price could enjoy a parabolic move to the upside after it takes place. 

    Bitcoin Halving Set For April 19

    Data from Coinwarz shows that the Bitcoin Halving is set to take place on April 19 at Block 840,000. This projection is based on Bitcoin’s current block time average, which means the Halving can come a little earlier or sometime after April 19. However, the main focus remains that miners’ supply will be cut in half. 

    The Halving event is a deflationary measure that Bitcoin’s founder, Satoshi Nakamoto, encoded in the flagship crypto and takes place after every 210,000 blocks. Three halving events have occurred since the Genesis block in 2009, when Bitcoin’s first block was mined. The first was on November 28, 2012, when miners’ rewards were cut from 50 BTC to 25 BTC.

    The next Halving event took place on July 9, 2016, cutting miners’ rewards to 12.5 BTC. The third one happened on May 11, 2020, reducing the reward to 6.25 BTC. Now, Miners’ rewards are set to be cut in half again, reducing them to 3.125 BTC.

    This reward is the amount of BTC miners receive for validating each block of new transactions on the blockchain. Although this event mainly affects miners, the crypto community closely monitors it due to the ripple effects it could have on the market. Bitcoin’s supply comes through these miners’ rewards, and a reduction in them usually drives Bitcoin’s value higher. 

    Bitcoin’s Performance After Each Halving

    The Halving has historically always led to a price appreciation for Bitcoin. Ninety days after the first Halving on November 28, 2012, Bitcoin’s price increased to $1,000 from $12 at the time of Halving. Subsequently, Bitcoin’s price saw a gain of over 8,000% one year after that Halving. 

    Bitcoin halving

    Source: MilkRoad

    This parabolic price surge also occurred after the second and third Halving events, with Bitcoin’s price rising from $650 and $8,821 (at the time of the Halving) to $2,506 and $56,612 (90 days after the Halving) in 2016 and 2020 respectively. Bitcoin also gained 284% and 559% one year after the event. 

    This time isn’t expected to be different as Bitcoin is again predicted to experience a massive move to the upside after April. This bullish sentiment is further strengthened by Bitcoin’s demand, which has continued to skyrocket in the face of a dwindling supply. 

    At the time of writing, Bitcoin is trading at around $70,400, up in the last 24 hours according to data from CoinMarketCap. 

    Bitcoin price chart from Tradingview.com

    BTC price struggles ahead of halving | Source: BTCUSD on Tradingview.com

    Featured image from 99Bitcoins, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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  • Bitcoin Miners’ Earnings Hit Record $2 Billion in March Ahead of Halving Event

    Bitcoin Miners’ Earnings Hit Record $2 Billion in March Ahead of Halving Event

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    Bitcoin Miners' Earnings Hit Record $2 Billion in March Ahead of Halving EventIn March, bitcoin miners amassed an unprecedented level of revenue not seen in the previous 12 months, hitting a high of $2.01 billion from rewards and transfer fees. Of this total, $85.81 million was earned from transaction fees over the past month. Historic Month for Bitcoin Miners — Income Peaks at $2 Billion As we […]

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  • Dogecoin Open Interest Hits Record $2.2 Billion

    Dogecoin Open Interest Hits Record $2.2 Billion

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    The Dogecoin open interest has been on the rise over the past few weeks, breaking and setting new all-time highs twice this March. Unsurprisingly, the price of the meme coin has been reflecting the growth seen by its open interest.

    This recent bullish momentum pushed the price of DOGE to break the $0.22 mark, its highest point in three years. However, the question is – how far can this rally go for the foremost meme token?

    Dogecoin Open Interest Breaks Above $2 Billion

    According to data from CoinGlass, the Dogecoin open interest broke through the $2 billion mark on Friday, March 29. Although DOGE’s open interest stands at around 1.96 billion at press time, it rose as high as $2.21 billion on Friday, a new record for the meme coin.

    Open interest is a metric that measures the total number of futures or options contracts of a particular cryptocurrency (Dogecoin, in this case) in the market at a given time. It provides insight into the amount of money investors are pouring into DOGE derivatives at this time.

    The meme token’s open interest has had quite a performance since the start of March. DOGE’s open interest rose to $1.6 billion (an all-time high at the time) earlier in the month before retracing to below $1 billion by March 20.

    It is worth noting that there has been a high correlation between open interest and Dogecoin’s price, with both climbing at the same time and at almost the same pace. Typically, a rising open interest can suggest a continuation of the trend around the asset’s price at the moment.

    Ultimately, the current high open interest for DOGE could mean a rapid price movement for the meme coin in the near future. However, it would be difficult to tell the direction in which this spurt of volatility would take the price of Dogecoin, especially as open interest is not the most optimal indicator of trends or price action.

    DOGE Price Overview

    As of this writing, the Dogecoin price stands at $0.204, reflecting a 4.6% decline in the last 24 hours. While the meme token’s price has somewhat struggled since hitting the three-year high, it has managed to retain most of its profit from the past week.

    According to CoinGecko data, the Dogecoin price is up by a whopping 18% in the past seven days. This positive performance has strengthened DOGE’s position as the largest meme coin in the market, with a market capitalization of $29 billion.

    Dogecoin

    Dogecoin price sees slight correction on the daily timeframe | Source: DOGEUSDT chart on TradingView

    Featured image from Pexels, chart from TradingView

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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  • Crypto Expert Predicts Massive Shiba Inu Run As Price Mirrors 2021

    Crypto Expert Predicts Massive Shiba Inu Run As Price Mirrors 2021

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    Crypto expert Rekt Capital has suggested that Shiba Inu (SHIB) could follow a similar trajectory to its move back in 2021. If so, this sets up the crypto token for a parabolic move that could see it hit its all-time high (ATH) and even surpass it. 

    2024 Shiba Inu To Mirror 2021 Action

    Rekt Capital mentioned in an X (formerly Twitter) post that SHIB’s retest was successful and that history was repeating itself. According to him, SHIB needs to break above the $0.000033285 price range to begin its uptrend continuation. In a previous post, the crypto analyst raised the possibility of SHIB’s price action mirroring the one from 2021. 

    He noted how SHIB came close to that price range but couldn’t break this resistance level. This was the same thing in late 2021, as Shiba Inu didn’t break that resistance level on the first attempt. That forced the meme coin to retest the $0.000026041 price level as a new support before confirming further upside. 

    Shiba Inu

    Source: X

    This time, Shiba Inu also retested that $0.000026041 price level during its recent price dip, which was partly caused by a wave of profit-taking. The meme coin showed great resolve and somehow managed to hold above that level, and it has since made a good recovery. 

    Now, it needs to break above the $0.000033285 price range to confirm that history is repeating itself and that a price surge to the one in 2021 is on the horizon. 2021 was SHIB’s breakout year when it enjoyed a mouth-watering gain of 46,000,000% on its way to an ATH of $0.00008845 in October 2021. 

    Analysts Optimistic About Shiba Inu’s Future Trajectory

    Rekt Capital isn’t the only one optimistic about SHIB’s future trajectory. Crypto analyst and trader Xanrox recently predicted that SHIB could rise to $0.00008854 by July, representing a new ATH for the meme coin. Interestingly, that looks to be only the starting point for the meme coin, as other analysts have predicted that SHIB could shed another zero. 

    One of them is crypto investor and analyst Oscar Ramos, who expressed his bullish sentiment about the meme coin when he predicted it could rise to $0.0001. Technical analyst Javon Marks also echoed similar sentiments when he suggested that SHIB could rise to as high as $0.0001553. 

    Meanwhile, crypto analyst Ali Martinez once suggested that SHIB’s price gain in 2021 could be nothing compared to what lies ahead for the meme coin. Specifically, Martinez predicted that Shiba Inu could see a historic 122,000% price surge to $0.011.

    At the time of writing, SHIB is trading around $0.00003116, up over 3% in the last 24 hours according to data from CoinMarketCap. 

    Shiba Inu price chart from Tradingview.com

    SHIB price at $0.00003 | Source: SHIBUSDT on Tradingview.com

    Featured image from Coinpedia, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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  • Bitcoin Technical Analysis: BTC Consolidation Points to Potential Shifts Ahead

    Bitcoin Technical Analysis: BTC Consolidation Points to Potential Shifts Ahead

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    Bitcoin Technical Analysis: BTC Consolidation Points to Potential Shifts AheadOn March 29, 2024, with a trading price of $70,075, and oscillating within a 24-hour range of $68,362 to $71,754, bitcoin’s current market behavior reveals significant consolidation and neutrality. Bitcoin Bitcoin’s 1-hour chart reveals recent volatility, with a significant bounce from a low of approximately $68,362, suggesting a strong support level. Conversely, the resistance near […]

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  • Expert’s Advice for 2024 and Beyond

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    Over the years, the rise of blockchain and its
    penetration into the financial sector has created all that is convenient to man. This includes streamlining payment systems to allow
    easier and cheaper cross-border transactions and the rise of the
    ever-popular and controversial cryptocurrency.

    All industries across the globe are
    experiencing the most drastic, exciting, and challenging innovation with the digitalization of the modern world and unstoppable technological advancements. These changes have been experienced in the financial sector.

    Blockchain is an unstoppable force that will continue to
    rock the entire financial industry and how we conduct business transactions in
    the future. Many investors have sacrificed money in their high savings interest accounts
    to trade cryptocurrency because of the significant returns. With the limitless possibilities of blockchain technology in finance,
    here’s what we’re looking forward to in 2024:

    Tokenization of Real-World Assets

    Boston Consulting Group believes that less than ten years
    from now, or by 2030, 10% of the global GDP will be held in tokenized illiquid assets valued at more than USD $16 trillion in the best-case scenario. This value can reach USD $68 trillion.

    Illiquid assets, such as real estate, land, commodities,
    natural resources, fine art, and private equity, pose challenges such as limited
    affordability to investors, inability to fractionalize, exclusivity, and
    regulatory issues. Once tokenized, illiquid assets can
    be fractionally owned and are affordable to small-scale
    investors, increasing their liquidity.

    Jim Pendergast, the Senior Vice President at altLINE Sobanco, mentioned: “This allows those rather ‘untradeable’ assets to become available to
    interested parties worldwide, even without being able to actually touch or see
    an asset, made through specifically defined smart contracts using asset or
    token trading platforms.”

    An example of this is four of Andy Warhol’s works being traded for a limited 1,000 tokenized lots each.

    According to Volodymyr Shchegel, the VP of Engineering at
    Clario: “Buying, selling, or trading tokenized assets is similar to stock
    exchanges. However, the challenge with globally dealing with asset token
    trading is that this practice is highly regulated, which can differ from
    jurisdiction to jurisdiction and involves a great understanding of legal
    requirements.”

    Stablecoins

    With cryptocurrency being the most popular arm of blockchain
    in the financial sector, the volatility and instability of most
    cryptocurrencies still deter many individuals from going all in (or going in at
    all) in the crypto world. This is where stablecoins come into the picture.

    Stablecoins are non-volatile cryptocurrencies, unlike most
    types of cryptocurrencies , because they are often tied to assets like currencies
    or commodities, making their value more ‘stable’ than the others.

    Government agencies are hesitant and negative when it comes
    to the conversation about the regulations of crypto assets. However, in 2024, the AICPA issued a reporting framework for stablecoins. This illustrates how
    stablecoins are becoming more acceptable in the financial sector.

    Jerry Han, the CMO at PrizeRebel, stated: “A reporting framework for stablecoins will allow better
    transparency and protection to token issuers, holders, regulators, and the
    entire financial industry.”

    Besides that, the stablecoin issuers in the EU will greatly benefit from
    the recently passed comprehensive crypto regulation called MiCA or Markets in
    Crypto Assets Regulation, the first major jurisdiction to introduce
    comprehensive rules for crypto assets. MiCA outlines stablecoins as e-money
    tokens tied to a fiat currency, and those stablecoins not tied to an EU
    currency will be outright banned from having more than one million transactions
    per day.

    The Rise of dApps

    We know of how DeFi, or decentralized finance,
    operates—challenging traditional centralized banking and financial institutions
    by eliminating the need for middlemen or brokers in loans and trading with the
    help of blockchain and secure distributed ledgers.

    According to Andrew Pierce, the CEO at LLC Attorney: “With
    security and safety being most at stake when it comes to digital assets, dApps,
    or decentralized applications, offer enhanced security and privacy
    features—from data being stored in a decentralized network to advanced
    cryptography.”

    Sustainable Cryptocurrency

    It is no secret how cryptocurrencies, especially Bitcoin,
    have done irreversible damage to the environment. Despite the business and
    financial sector benefiting from the rise of blockchain and crypto, scientists from the U.N. have reported the major impact of Bitcoin mining in increasing
    carbon footprint, as well as water and land footprints.

    Simply put, if Bitcoin were a country, it would have ranked
    27th in the world in terms of energy consumption. Comparatively, it uses an equivalent of half the entire U.K.’s energy consumption. With the negative environmental impact of digital assets, the popularity of sustainable cryptocurrencies is growing
    and will continue to grow in 2024.

    Puneet Gogia, the Founder at Excel Champs, mentioned: “So many individuals
    and businesses are finding joy in cryptocurrencies and how it has made such
    massive breakthroughs, especially in the financial sector, not knowing that
    these are the same things killing our planet.” He added: “We need
    sustainability, even while keeping up with technology.”

    Examples of sustainable cryptocurrencies on the rise are:

    • Green Bitcoin ($GBTC)
    • Solana (SOL)
    • IOTA
    • Cardano
    • eTukTuk
    • Nano

    Looking Forward: The Future of Blockchain in the Finance Industry

    There’s no stopping blockchain from changing how the
    financial sector, as well as the entire
    industry, works and operates. With illiquid asset tokenization, the rise of
    stablecoins, dApps, and sustainable cryptocurrency, blockchain is evolving and
    transforming a new era in finance that focuses on peer-to-peer transactions.

    With the ever-expanding and endless possibilities of DeFi in
    the financial blockchain, 2024 is going to be a year where blockchain is going
    to be more widely accepted and regulated, paving the way for safer and more
    transparent digital asset trading and exchange.

    Over the years, the rise of blockchain and its
    penetration into the financial sector has created all that is convenient to man. This includes streamlining payment systems to allow
    easier and cheaper cross-border transactions and the rise of the
    ever-popular and controversial cryptocurrency.

    All industries across the globe are
    experiencing the most drastic, exciting, and challenging innovation with the digitalization of the modern world and unstoppable technological advancements. These changes have been experienced in the financial sector.

    Blockchain is an unstoppable force that will continue to
    rock the entire financial industry and how we conduct business transactions in
    the future. Many investors have sacrificed money in their high savings interest accounts
    to trade cryptocurrency because of the significant returns. With the limitless possibilities of blockchain technology in finance,
    here’s what we’re looking forward to in 2024:

    Tokenization of Real-World Assets

    Boston Consulting Group believes that less than ten years
    from now, or by 2030, 10% of the global GDP will be held in tokenized illiquid assets valued at more than USD $16 trillion in the best-case scenario. This value can reach USD $68 trillion.

    Illiquid assets, such as real estate, land, commodities,
    natural resources, fine art, and private equity, pose challenges such as limited
    affordability to investors, inability to fractionalize, exclusivity, and
    regulatory issues. Once tokenized, illiquid assets can
    be fractionally owned and are affordable to small-scale
    investors, increasing their liquidity.

    Jim Pendergast, the Senior Vice President at altLINE Sobanco, mentioned: “This allows those rather ‘untradeable’ assets to become available to
    interested parties worldwide, even without being able to actually touch or see
    an asset, made through specifically defined smart contracts using asset or
    token trading platforms.”

    An example of this is four of Andy Warhol’s works being traded for a limited 1,000 tokenized lots each.

    According to Volodymyr Shchegel, the VP of Engineering at
    Clario: “Buying, selling, or trading tokenized assets is similar to stock
    exchanges. However, the challenge with globally dealing with asset token
    trading is that this practice is highly regulated, which can differ from
    jurisdiction to jurisdiction and involves a great understanding of legal
    requirements.”

    Stablecoins

    With cryptocurrency being the most popular arm of blockchain
    in the financial sector, the volatility and instability of most
    cryptocurrencies still deter many individuals from going all in (or going in at
    all) in the crypto world. This is where stablecoins come into the picture.

    Stablecoins are non-volatile cryptocurrencies, unlike most
    types of cryptocurrencies , because they are often tied to assets like currencies
    or commodities, making their value more ‘stable’ than the others.

    Government agencies are hesitant and negative when it comes
    to the conversation about the regulations of crypto assets. However, in 2024, the AICPA issued a reporting framework for stablecoins. This illustrates how
    stablecoins are becoming more acceptable in the financial sector.

    Jerry Han, the CMO at PrizeRebel, stated: “A reporting framework for stablecoins will allow better
    transparency and protection to token issuers, holders, regulators, and the
    entire financial industry.”

    Besides that, the stablecoin issuers in the EU will greatly benefit from
    the recently passed comprehensive crypto regulation called MiCA or Markets in
    Crypto Assets Regulation, the first major jurisdiction to introduce
    comprehensive rules for crypto assets. MiCA outlines stablecoins as e-money
    tokens tied to a fiat currency, and those stablecoins not tied to an EU
    currency will be outright banned from having more than one million transactions
    per day.

    The Rise of dApps

    We know of how DeFi, or decentralized finance,
    operates—challenging traditional centralized banking and financial institutions
    by eliminating the need for middlemen or brokers in loans and trading with the
    help of blockchain and secure distributed ledgers.

    According to Andrew Pierce, the CEO at LLC Attorney: “With
    security and safety being most at stake when it comes to digital assets, dApps,
    or decentralized applications, offer enhanced security and privacy
    features—from data being stored in a decentralized network to advanced
    cryptography.”

    Sustainable Cryptocurrency

    It is no secret how cryptocurrencies, especially Bitcoin,
    have done irreversible damage to the environment. Despite the business and
    financial sector benefiting from the rise of blockchain and crypto, scientists from the U.N. have reported the major impact of Bitcoin mining in increasing
    carbon footprint, as well as water and land footprints.

    Simply put, if Bitcoin were a country, it would have ranked
    27th in the world in terms of energy consumption. Comparatively, it uses an equivalent of half the entire U.K.’s energy consumption. With the negative environmental impact of digital assets, the popularity of sustainable cryptocurrencies is growing
    and will continue to grow in 2024.

    Puneet Gogia, the Founder at Excel Champs, mentioned: “So many individuals
    and businesses are finding joy in cryptocurrencies and how it has made such
    massive breakthroughs, especially in the financial sector, not knowing that
    these are the same things killing our planet.” He added: “We need
    sustainability, even while keeping up with technology.”

    Examples of sustainable cryptocurrencies on the rise are:

    • Green Bitcoin ($GBTC)
    • Solana (SOL)
    • IOTA
    • Cardano
    • eTukTuk
    • Nano

    Looking Forward: The Future of Blockchain in the Finance Industry

    There’s no stopping blockchain from changing how the
    financial sector, as well as the entire
    industry, works and operates. With illiquid asset tokenization, the rise of
    stablecoins, dApps, and sustainable cryptocurrency, blockchain is evolving and
    transforming a new era in finance that focuses on peer-to-peer transactions.

    With the ever-expanding and endless possibilities of DeFi in
    the financial blockchain, 2024 is going to be a year where blockchain is going
    to be more widely accepted and regulated, paving the way for safer and more
    transparent digital asset trading and exchange.



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  • US, UK Probe $20B Crypto Transfers Linked to Russian Exchange

    US, UK Probe $20B Crypto Transfers Linked to Russian Exchange

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    Authorities from the US and the UK are investigating
    cryptocurrency transactions traversing Russian exchanges. Recent revelations
    suggest that over $20 billion in crypto transfers have been flagged for
    investigation.

    According to a report by Bloomberg, the suspicions
    revolve around Moscow-based Garantex and its use of the Tether cryptocurrency.
    At the center of the scrutiny is Tether, a dollar-pegged stablecoin. The sizable volume of transactions sent through
    Garantex using Tether has raised red flags, prompting regulatory bodies to
    delve deeper into potential sanctions evasion and illicit financial activities.

    Tether Holdings, the issuer of the eponymous
    stablecoin, finds itself entangled in the investigation. Authorities caution
    that unraveling the intricacies of these transactions requires time and
    resources, with no immediate conclusions drawn.

    Garantex, founded in Estonia but operating primarily
    out of Moscow, finds itself in the regulatory crosshairs. Stripped of its
    license in Estonia and sanctioned by Western powers, the exchange denies
    allegations of complicity in illicit activities.

    However, evidence suggests a pattern of facilitating
    transactions involving sanctioned entities and criminal groups. As the
    investigation unfolds, the spotlight on cryptocurrency exchanges intensifies. While asserting cooperation with law enforcement, the
    company faces scrutiny over the role of Tether in facilitating criminal
    activities, including investment scams and money laundering schemes.

    Challenges and Complexity

    Despite concerted efforts to clamp down on illicit
    financial flows, the task remains daunting. Cryptocurrency transactions present
    a myriad of challenges, from their decentralized nature to the cloak of
    anonymity they afford.

    Regulatory bodies are poised to implement stricter
    oversight measures to curb abuse and safeguard the integrity of the financial
    system. Yet, the evolving landscape of digital currencies underscores the
    ongoing challenges in combating financial crime in the digital age.

    As geopolitical tensions escalate due to Russia’s
    invasion of Ukraine, Western powers are tightening their grip on financial
    networks to stem the flow of funds that could support Vladimir Putin’s regime.

    Authorities from the US and the UK are investigating
    cryptocurrency transactions traversing Russian exchanges. Recent revelations
    suggest that over $20 billion in crypto transfers have been flagged for
    investigation.

    According to a report by Bloomberg, the suspicions
    revolve around Moscow-based Garantex and its use of the Tether cryptocurrency.
    At the center of the scrutiny is Tether, a dollar-pegged stablecoin. The sizable volume of transactions sent through
    Garantex using Tether has raised red flags, prompting regulatory bodies to
    delve deeper into potential sanctions evasion and illicit financial activities.

    Tether Holdings, the issuer of the eponymous
    stablecoin, finds itself entangled in the investigation. Authorities caution
    that unraveling the intricacies of these transactions requires time and
    resources, with no immediate conclusions drawn.

    Garantex, founded in Estonia but operating primarily
    out of Moscow, finds itself in the regulatory crosshairs. Stripped of its
    license in Estonia and sanctioned by Western powers, the exchange denies
    allegations of complicity in illicit activities.

    However, evidence suggests a pattern of facilitating
    transactions involving sanctioned entities and criminal groups. As the
    investigation unfolds, the spotlight on cryptocurrency exchanges intensifies. While asserting cooperation with law enforcement, the
    company faces scrutiny over the role of Tether in facilitating criminal
    activities, including investment scams and money laundering schemes.

    Challenges and Complexity

    Despite concerted efforts to clamp down on illicit
    financial flows, the task remains daunting. Cryptocurrency transactions present
    a myriad of challenges, from their decentralized nature to the cloak of
    anonymity they afford.

    Regulatory bodies are poised to implement stricter
    oversight measures to curb abuse and safeguard the integrity of the financial
    system. Yet, the evolving landscape of digital currencies underscores the
    ongoing challenges in combating financial crime in the digital age.

    As geopolitical tensions escalate due to Russia’s
    invasion of Ukraine, Western powers are tightening their grip on financial
    networks to stem the flow of funds that could support Vladimir Putin’s regime.

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