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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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  • Top-selling Devilman Manga Launch NFTs on PlayMining Platform in Collaboration with JobTribes Game | by BitMedia Buzz

    Top-selling Devilman Manga Launch NFTs on PlayMining Platform in Collaboration with JobTribes Game | by BitMedia Buzz

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    BitMedia Buzz

    The limited edition Devilman NFTs can be bought with PlayMining’s DEP token which is leading in the current gamefi rally ahead of Immutable ($IMX), Oasys ($OAS), Guild of Guardians ($GOG) and Axie Infinity ($AXS) in terms of one-month and three-month gains in both token price and market cap.

    SINGAPORE, Jan. 24, 2024 — Digital Entertainment Asset Pte. Ltd. (DEA), a Singapore-based global GameFi company and owner of the PlayMining gaming platform, has announced the launch of a limited edition NFT collection for the Job Tribes Play-and-Earn (P&E) card battle game in collaboration with the popular Devilman manga and anime series. The announcement comes at the height of PlayMining’s DEAPcoin ($DEP) rebound, with prices and market cap up 115% and 166% respectively from where they stood when the GameFi market rally began three months ago.

    Limited quantities of six different Devilman NFTs will be available for purchase from the PlayMining NFT marketplace from Jan. 24 at 14:00 to Jan. 31 at 10:59 (UTC+8). The limited edition collaboration NFTs will feature artwork of characters from the Devilman series across three Epic and three Legendary cards. After the sale ends, a limited quantity of cards will still be available to win via random draw by spending DEP to purchase “Premium Recruitment” tickets in the Job Tribes game. Premium Recruitment will be available from Jan. 31 at 16:00 until Feb. 14 at 10:59 (UTC+8), or while supplies last. As a special incentive, a one-of-a-kind “Rage of Fire Devilman” Legendary collaboration NFT will be awarded as a bonus prize to the player who draws the very last Premium Recruitment NFT.

    To commemorate the Devilman collaboration, JobTribes will feature an in-game event called “Devilman’s Invasion!” from Jan. 31 at 16:00 until Feb. 14 at 10:59 (UTC+8). The tie-in event will see players competing to win Devilman’s amulet in the form of a Legendary collaboration NFT. Other game items will also be available to be won.

    Devilman is a well-known manga and anime series that has had numerous iterations since it first launched in 1972. Over 50 million copies of the manga have been sold worldwide, placing it as a top-60 best selling manga series.

    Sales Information

    Legendary NFTs:

    • 3 types, each limited to 10 pieces (total 30 pieces)
    • Immediate sale price: 360,000 DEAPcoin
    • One bonus Legendary NFT exclusively available through “Premium Recruitment”

    Epic NFTs:

    • 3 types, each limited to 10 pieces (total 30 pieces)
    • Immediate sale price: 60,000 DEAPcoin

    $DEP: Dominating the GameFi Market Rally for Over Three Months

    Late October 2023 saw a massive spike in many GameFi token prices, and the bullish market performance continued in a sustained GameFi rally through the new year. PlayMining’s DEP is one of the strongest performing high-profile GameFi tokens on the market today, surpassing Immutable ($IMX), Oasys ($OAS), Guild of Guardians ($GOG) and Axie Infinity ($AXS) in terms of one-month and three-month gains in both token price and market cap.

    DEP is the proprietary token used to purchase NFTs on PlayMining’s marketplaces, and can be earned as a reward for playing PlayMining GameFi games. With DEP’s rising market price, PlayMining NFTs are also increasing in intrinsic value.

    DEP listed on Tokenize Xchange recently where it is tradable with USD and SGD, and can also be traded on other popular cryptocurrency exchanges including OKX, Uniswap, Gate.io, Bitrue and Bitmart.

    Boasting a Brand New Business Model: #GamifyingWork Across All Industries

    DEP’s strong rebound immediately followed an official announcement by PlayMining of multiple high-profile partnerships with whom PlayMining is co-developing a new business model called “Gamifying Work”. The initiative will see new P&E games developed for the PlayMining GameFi platform that gamify work tasks for real-world companies.

    “There are serious labor shortages across many industries all around the world these days, but many of these jobs feature work tasks that could be performed remotely. We can help alleviate labor shortages by gamifying some of these work tasks in PlayMining games, where players are incentivized with DEP tokens in exchange for ‘doing the work’ as in-game quests,” said DEA co-founder and co-CEO Kozo Yamada.

    PlayMining’s labor shortage solution tackles a severe problem — four out of five companies suffer from a lack of talent worldwide, according to a 2023 ManpowerGroup report. In addition, a significant proportion of businesses suffering from labor shortages are in the heavy industries — a space that PlayMining is specifically addressing with a number of their recent partnerships.

    For example, a pilot project is launching in Japan this spring for PlayMining’s partnership with TEPCO Power Grid, the fourth-largest electric power company in the world. TEPCO has had a hard time employing enough power pole inspectors to maintain their aging power infrastructure around Japan. But soon, PlayMining gamers will be able to fill this demand — a new game will send teams of players out into their local communities to photograph power poles, with winning teams earning DEP rewards.

    Another ‘gamifying work’ collaboration underway is PlayMining’s novel solution for the waste management industry — a game that will allow players to remotely control actual physical waste-sorting robots at Japanese waste-processing facilities, thus alleviating a labor shortage in that space. Additionally, DEA has secured investment from KDDI, the second-largest telecom operator in Japan, opening the company up to business collaborations through their network. New projects revealed in PlayMining’s October announcement included initiatives across a wide range of industries, ranging from disaster prevention, local revitalization and CO2 reduction to social good projects targeting elderly quality-of-life, animal welfare, employment for people with disabilities and inheritance.

    The PlayMining GameFi platform’s catalog of P&E games includes: JobTribes, Menya Dragon Ramen, Cookin’ Burger, Lucky Farmer, Graffiti Racer, SOUL Fusers and Rogue Roll Ruler’s. The platform also has two NFT marketplaces, a manga-integrated metaverse project and a ‘Watch-and-Earn’ streaming video application. And soon, it will feature a growing number of ‘gamifying work’ games!

    Businesses and individuals interested in discussing collaboration opportunities with PlayMining can use the following email address to get in touch with the PlayMining business development team: recruit@dea.sg

    About Digital Entertainment Asset

    Digital Entertainment Asset Pte. Ltd. (DEA) is a Singapore-based global Web3 entertainment company founded in August 2018. DEA is a developer of Play-to-Earn (P2E) games — also referred to as Play-and-Earn (P&E) games. DEA also operates the PlayMining gamefi platform, NFT marketplace and ‘Verse’ metaverse project as well as DEAPcoin ($DEP) — the first P&E token approved by the Financial Service Agency (FSA) of Japan. The team is headed by two co-CEOs — Naohito Yoshida and Kozo Yamada — who together bring decades of experience in founding successful startups (with 3 IPOs), creating hit video games, producing Web TV programs and displaying a deep understanding of NFT gaming.

    About PlayMining

    PlayMining is a GameFi and metaverse platform that empowers creators who would otherwise benefit very little in the traditional IP creation industry. The PlayMining platform is a new business model for content creation, featuring an NFT Marketplace powered by the PlayMining DEAPcoin ($DEP), paired with an NFT gaming and Metaverse platform. Featuring both in-house games as well as third-party projects with their own native tokens that allow creators to capture much of the value they create, the PlayMining platform has 2.7 million users and a catalog of P&E game titles including Job Tribes, Cookin’ Burger, Menya Dragon Ramen, Graffiti Racer, Lucky Farmer, Rogue Roll Ruler’s and SOUL Fusers, as well as the metaverse project Fujiwara Kamui Verse.

    About JobTribes

    JobTribes is a card battle game themed around various occupations, featuring characters that personify different jobs. NFTs can be used as powerful battle cards significantly influencing the outcome of battles. The game’s story is handled by Shin Kibayashi, one of the top six creators in Japan selected by Netflix, offering a grand world view.

    Official Channels

    PlayMining Website: https://playmining.com

    PlayMining Discord: https://discord.com/invite/xWeHGdt

    PlayMining X (formerly Twitter): https://twitter.com/PlayMining_SG

    PlayMining Facebook: https://www.facebook.com/PlayMining/

    PlayMining Medium: https://medium.com/playmining-game

    PlayMining Youtube: https://www.youtube.com/channel/UCGWmK0RLV4SB_PSXpj2j6dw

    JobTribes Website: https://jobtribes.playmining.com/

    JobTribes X (formerly Twitter): https://twitter.com/JobtribesJP

    JobTribes Discord: https://discord.com/invite/UcEAuyZGCV

    DEA Website: https://dea.sg

    About Devilman

    Devilman is one of the representative works of manga artist Go Nagai. It depicts a fierce battle between a demon army intent on destroying humanity and Devilman, who betrays them to side with the humans. This work, which was simultaneously serialized in manga and broadcast as a TV anime series, was a pioneer of mixed media projects in Japan.



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  • ETH platform Blocknative adds bundles, cancellation, replacement

    ETH platform Blocknative adds bundles, cancellation, replacement

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    Blocknative, a real-time Ethereum (ETH) infrastructure platform, has newly introduced features including transaction bundle send, cancellation, and replacement support for the Blocknative Builder.

    Searchers can now submit MEV bundles privately to the Blocknative Builder to be included on-chain.

    This market utility builds upon Blocknative’s reliable, real-time infrastructure that is systematically important to the Ethereum ecosystem.

    “MEV bundle control is an important element of our block-building capabilities. As Ethereum evolves, we remain committed to providing real-time infrastructure that supports transparency, accessibility, and decentralization block by block. To reduce friction and facilitate adoption, we have prioritized ease of use by ensuring that our API-level implementation is cross-compatible with the broader builder ecosystem.”
    – Matt Cutler, CEO & Co-Founder of Blocknative

    Searchers can quickly add the Blocknative Builder to their bundle workflow. The bundle RPC endpoint uses direct payments instead of gas prices to make payments conditional on their transaction succeeding, thus avoiding having to pay for failed bids.

    With over 269,000 validators connected to the Blocknative Relay via MEV-Boost, searchers can use the Blocknative bundle RPC endpoint to increase their Builder reach and increase the likelihood that their bundles successfully get on-chain.

    Searchers can learn more here or interact with the RPC endpoint here.

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  • Coinbase Removes Crypto ‘Rug Pull’ Links from Its Platform

    Coinbase Removes Crypto ‘Rug Pull’ Links from Its Platform

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    Coinbase Global, a major cryptocurrency exchange in the US, announced on Wednesday that it has removed ‘how to buy’ instructions for at least three crypto tokens which have been identified as ‘rug pulls’ that could make investors lose their money.

    The three said tokens include ‘DeFi100’, ‘Mercenary’, and the ‘SQUID token’. Last week, Reuters media outlets brought attention to the tokens on Coinbase sales pages that were suspected to be rug pulls.

    Jaclyn Sales, a spokesperson at Coinbase, stated yesterday that the links associated with such tokens were removed from the crypto exchange’s website after they were brought into the limelight by Reuters.

    CoinMarketCap was identified to have automatically created the sales pages. Since its establishment, CoinMarketCap has had the goal of collecting all of the data about the crypto space and putting them in one, online location, so that anyone, anywhere can find out more about any particular crypto coin they are interested in.

    However, Shaun Heng, the Vice-President of Growth and Operations at CoinMarketCap, talked about the ‘crypto tokens’ in question, and stated that CoinMarket did not create the pages as there was no partnership with Coinbase.

    So, Coinbase pulled down the pages that featured ‘DeFi100’ ‘Mercenary’, and ‘Squid Game’ crypto tokens on its website.

    In addition, the Coinbase spokesperson said that the
     
     exchange      plans to conduct an upgrade to safeguard its auto-created webpages.

    Crypto Funds Go Missing

    Coinbase is the most popular consumer-facing cryptocurrency exchange in the US. Formed in 2012, the firm allows users to hold, purchase and sell crypto coins like
     
     Bitcoin      . The online platform has gained much popularity and turned itself into a reliable exchange for mainstream crypto investors. However, Coinbase said, as a disclaimer, that its online pages offering tips on investing in tokens are informational rather than investment advice and that the exchange is not liable for ‘errors and delays’.

    While the popularity of crypto adoption has significantly grown, scams in the industry have continued to make headlines. Chainalysis research company revealed that scams scooped over $7.7 billion from investors last year. The most common form of scam was the ‘rug pull’, where developers launch a scam project, attract investors and then abandon the project, escaping with the investors’ funds. Last year, Squid Game crypto token crashed to zero after the developers did a rug pull that robbed over $3.38 million from investors.

    Coinbase Global, a major cryptocurrency exchange in the US, announced on Wednesday that it has removed ‘how to buy’ instructions for at least three crypto tokens which have been identified as ‘rug pulls’ that could make investors lose their money.

    The three said tokens include ‘DeFi100’, ‘Mercenary’, and the ‘SQUID token’. Last week, Reuters media outlets brought attention to the tokens on Coinbase sales pages that were suspected to be rug pulls.

    Jaclyn Sales, a spokesperson at Coinbase, stated yesterday that the links associated with such tokens were removed from the crypto exchange’s website after they were brought into the limelight by Reuters.

    CoinMarketCap was identified to have automatically created the sales pages. Since its establishment, CoinMarketCap has had the goal of collecting all of the data about the crypto space and putting them in one, online location, so that anyone, anywhere can find out more about any particular crypto coin they are interested in.

    However, Shaun Heng, the Vice-President of Growth and Operations at CoinMarketCap, talked about the ‘crypto tokens’ in question, and stated that CoinMarket did not create the pages as there was no partnership with Coinbase.

    So, Coinbase pulled down the pages that featured ‘DeFi100’ ‘Mercenary’, and ‘Squid Game’ crypto tokens on its website.

    In addition, the Coinbase spokesperson said that the
     
     exchange      plans to conduct an upgrade to safeguard its auto-created webpages.

    Crypto Funds Go Missing

    Coinbase is the most popular consumer-facing cryptocurrency exchange in the US. Formed in 2012, the firm allows users to hold, purchase and sell crypto coins like
     
     Bitcoin      . The online platform has gained much popularity and turned itself into a reliable exchange for mainstream crypto investors. However, Coinbase said, as a disclaimer, that its online pages offering tips on investing in tokens are informational rather than investment advice and that the exchange is not liable for ‘errors and delays’.

    While the popularity of crypto adoption has significantly grown, scams in the industry have continued to make headlines. Chainalysis research company revealed that scams scooped over $7.7 billion from investors last year. The most common form of scam was the ‘rug pull’, where developers launch a scam project, attract investors and then abandon the project, escaping with the investors’ funds. Last year, Squid Game crypto token crashed to zero after the developers did a rug pull that robbed over $3.38 million from investors.

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  • Rainmaker Games Announces Its Native Token $RAIN Is Staking on Rainmaker Platform

    Rainmaker Games Announces Its Native Token $RAIN Is Staking on Rainmaker Platform

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    $RAIN is the token behind Rainmaker Games, a platform dedicated to helping users all around the world engage in play-to-earn games in the most seamless way possible. 25 million rain tokens are currently sitting in the reserve. Those tokens are the ones that went unsold during the project’s fair token launch that took place via Copper Launch last month.

    That reserve is how users are going to get paid for staking their tokens and supporting the project. But just because it’s starting out with 25 million tokens, doesn’t mean it’s going to stay that way. The project might increase the amount of $RAIN tokens available and staking pools as tokens begin to vest and get unlocked through the Community Incentives reserve.

    Rainmaker Games is going to make it much easier for gamers to earn revenue while playing games and interacting with each other, and with staking now live, it’s going to reward even those that aren’t playing games but are clearly dedicated to supporting the platform.

    It’s time to learn more about the $RAIN token, how to stake $RAIN tokens, and what the potential payout is for users.

    The Two Staking Options That Put More $RAIN In User’s Wallets

    Rainmaker Games is giving users two simple ways to stake $RAIN tokens: single-side staking and liquidity pool (LP) staking.

    Earning $RAIN with Single-side Staking

    In single-side staking, users simply deposit $RAIN directly into the staking pool and earn rewards. The pool pays out 20% of the total daily rewards provided by the staking reserve. Users don’t have to do anything else to get that 20%.

    The other option is to stake through liquidity pools.

    LP Staking $RAIN Tokens

    Rainmaker Games is using Uniswap V2 for its liquidity pools. Users can deposit RAIN-ETH Uniswap LP tokens after adding liquidity to the exchange. Anybody using a different version of Uniswap (V1 or V3) will not receive staking rewards, so be sure to use V2. This pool receives 80% of the staking rewards paid out by the Community Incentives reserve.

    Staking Bonuses for Making It $RAIN Even More

    Rainmaker Games’ staking initiative provides users with a linear bonus structure that multiplies the number of token rewards for stakers that lock in their tokens for a set period of time. The longer tokens are staked for, the greater the bonus.

    Here’s a quick look at the bonus reward formula:

    1 (standard weight) + The Amount of Weeks locked/52 weeks = The Time Waited Ratio Being Used

    Here’s a quick breakdown of the results the bonuses can yield for users:

    • No bonus— staker does not want to lock their tokens
    • 25x bonus— staker locks their tokens for a period of 13 weeks
    • 5x bonus— staker locks their tokens for a period of 26 weeks
    • 75x bonus— staker locks their tokens for a period of 37 weeks
    • 2x bonus— staker locks their tokens for a period of 52 weeks

    Instructions for Staking $RAIN

    The first step to staking $RAIN is to simply log onto the project’s staking portal. Users then connect their MetaMask wallet by clicking the Connect button in the right-hand corner of the page. Support for other wallets is coming soon.

    The next step is to select the desired staking pool (make sure you’re using Uniswap V2). Before clicking the Stake button, users can take a look at the specific details of the pool selected. Clicking the Stake button leads to another screen where the user can choose either flexible or locked-in options for their staking. Locking in means earning greater rewards in exchange for giving up flexibility.

    The Rainmaker Games blog offers a more in-depth step-by-step guide to staking.

    It’s about to be pouring $RAIN in the crypto gaming world. Gamers and interested stakers can join the revolution by staking tokens or by following the RAIN community on Telegram or the project’s website.

     

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  • WonderFi to Buy Crypto Platform Bitbuy

    WonderFi to Buy Crypto Platform Bitbuy

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    WonderFi Technologies announced yesterday that the company has entered into a definitive agreement to purchase First Ledger Corp, the parent company of Canada’s Bitbuy Technologies, one of the leading crypto platforms in the country.

    Founded in 2016, Bitbuy is an approved cryptocurrency marketplace in Canada. Through the acquisition, WonderFi is planning to establish itself as a prominent crypto and DeFi platform in the region. Due to surging interest in digital assets, Bitbuy saw immense growth in 2021.

    The crypto platform serves more than 375,000 users. Over $4.4 billion has been transacted through the platform. In November last year, Bitbuy became the first approved crypto marketplace in Canada.

    During the 12 months ended 30 September 2021, Bitbuy generated more than $31 million in revenue. Approved by both Boards of Directors of WonderFi and Bitbuy, the mentioned acquisition is expected to close in Q1 of 2022.

    “The integration of WonderFi and Bitbuy is a huge step forward in our mission of democratizing finance through easy and secure access to DeFi and crypto,” said Ben Samaroo, the CEO of WonderFi. “A licensed marketplace serves as a crucial gateway to the digital asset economy and facilitates a robust end-to-end, unified client experience. The integration of Bitbuy’s product suite will accelerate and expand the reach and scope that WonderFi can offer to the market, and will drive long-term growth and value for the Company.”

    Details of the Acquisition

    Providing details of the acquisition, WonderFi highlighted that the company is planning to retain all employees of Bitbuy. Moreover, the acquisition will add more than 375,000 registered users to the WonderFi ecosystem.

    “Under the terms of the agreement, the consideration to Bitbuy shareholders will consist of 70 million newly issued common shares of WonderFi, $20 million in upfront cash, and $30 million in deferred cash via a vendor-takeback note due in 12 months, implying an aggregate transaction value of approximately $206 million. WonderFi will use its balance sheet to fund the cash consideration,” the company added.

    WonderFi Technologies announced yesterday that the company has entered into a definitive agreement to purchase First Ledger Corp, the parent company of Canada’s Bitbuy Technologies, one of the leading crypto platforms in the country.

    Founded in 2016, Bitbuy is an approved cryptocurrency marketplace in Canada. Through the acquisition, WonderFi is planning to establish itself as a prominent crypto and DeFi platform in the region. Due to surging interest in digital assets, Bitbuy saw immense growth in 2021.

    The crypto platform serves more than 375,000 users. Over $4.4 billion has been transacted through the platform. In November last year, Bitbuy became the first approved crypto marketplace in Canada.

    During the 12 months ended 30 September 2021, Bitbuy generated more than $31 million in revenue. Approved by both Boards of Directors of WonderFi and Bitbuy, the mentioned acquisition is expected to close in Q1 of 2022.

    “The integration of WonderFi and Bitbuy is a huge step forward in our mission of democratizing finance through easy and secure access to DeFi and crypto,” said Ben Samaroo, the CEO of WonderFi. “A licensed marketplace serves as a crucial gateway to the digital asset economy and facilitates a robust end-to-end, unified client experience. The integration of Bitbuy’s product suite will accelerate and expand the reach and scope that WonderFi can offer to the market, and will drive long-term growth and value for the Company.”

    Details of the Acquisition

    Providing details of the acquisition, WonderFi highlighted that the company is planning to retain all employees of Bitbuy. Moreover, the acquisition will add more than 375,000 registered users to the WonderFi ecosystem.

    “Under the terms of the agreement, the consideration to Bitbuy shareholders will consist of 70 million newly issued common shares of WonderFi, $20 million in upfront cash, and $30 million in deferred cash via a vendor-takeback note due in 12 months, implying an aggregate transaction value of approximately $206 million. WonderFi will use its balance sheet to fund the cash consideration,” the company added.

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  • DeFi Platform Grim Finance Hacked, Lost $30M in Crypto

    DeFi Platform Grim Finance Hacked, Lost $30M in Crypto

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    Another decentralized finance (DeFi) platform has fallen victim to a cyberattack, this time its Grim Finance. On Sunday, the Yield compounding tool was siphoned off $30 million worth of fantom tokens, the platform officially confirmed.

    “The attackers’ address has been identified with over 30 million dollars worth of theft here,” Grim Finance developers tweeted on Sunday morning. “The exploit was found in the vault contract so all of the vaults and deposited funds are currently at risk.”

    Hello Grim Community,

    It is with heavy hearts that we inform you that our platform was exploited today by an external attacker roughly 6 hours ago. The attackers address has been identified with over 30 million dollars worth of theft here https://t.co/qA3iBTSepb

    — Grim Finance (@financegrim) December 19, 2021

    The developers detailed that the attack was an advanced one as the attacker exploited Grim’s vault strategy by entering a malicious token contract. It used five reentrancy loops to fake five deposits while the platform was still processing the first deposit.

    As a measure of safety, the developers have paused all of the vaults to prevent any future funds from being placed at risk and also urged users to ‘IMMEDIATELY’ withdraw all funds.

    “The exploit was found in the vault contract so all of the vaults and deposited funds are currently at risk,” the developers detailed.

    They have also contacted and notified USD Coin issuer Circle, AnySwap, and Maker to block the hackers’ addresses and freeze the funds.

    DeFi evolved from blockchain as the true challenger of the existing banking industry, but remains vulnerable to cyber-attacks. Most recently Vulcan Forged, which is a crypto gaming ecosystem, lost $140 million that already refunded most of the victims. Another platform Cream Finance suffered three attacks within months, losing more than $192 million worth of cryptocurrencies.



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  • Halal Crypto Platform MRHB DeFi Receives Investment from Australian Gulf Capital | by Bit Media Buzz | Dec, 2021

    Halal Crypto Platform MRHB DeFi Receives Investment from Australian Gulf Capital | by Bit Media Buzz | Dec, 2021

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    Bit Media Buzz

    Melbourne, Australia, December 17th, 2021 — Community-focused platform MRHB DeFi has received an investment from Australian Gulf Capital, a global investment management company, as part of the strategic venture round of the world’s first inclusive and ethical DeFi ecosystem platform.

    The funding from Australian Gulf (AG) Capital is not the first from the region, with the Islamic DeFi pioneer having received investments from institutions such as Blockchain Australia and other Aussie angel investors. The AG Capital investment presents further opportunity to expand MRHB DeFi’s presence and growth in this key market.

    “We are pleased to have an early-stage opportunity to support first-mover Marhaba in the development of their high-growth, disruptive venture in ethical and halal DeFi,” commented CEO and founder of AG Capital, Salman Masaud. “Our investments are typically focused on a company’s early funding stages when the product is nascent and the upside potential is the greatest. We expect to support the project by bringing our legal, consulting and investment banking expertise to assist the Marhaba team in launching their socially impactful vision.”

    The Australian PE/VC funds management company is also currently in the process of establishing a license under ADGM in the UAE, a key growth hub for MRHB DeFi, having recently signed a partnership with local partner Masary Capital to provide halal crypto solutions to the retail and institutional sectors in the UAE.

    “Australia Gulf Capital’s ethos of actively supporting startups who align with their ambitious growth vision makes them a strong partner for us,” said MRHB DeFi CEO Naquib Mohammed. “As we continue on our journey of building the world’s first ethical DeFi platform, it is this shared vision and support from amongst our family of investors and partners that will help transform our dream into reality.”

    MRHB DeFi: An Islamic Finance DeFi Pioneer

    MRHB DeFi was created to bridge a perceived gap — by providing excluded and crypto-cautious communities greater access to the growing opportunities and utilities of the cryptosphere. The project is underpinned by faith-based DeFi offerings which adhere to the ethical investment and financing principles rooted in Islamic Finance. Many values upheld by the halal platform also align with the United Nations Sustainable Development Goals. Business practices deemed ethical include those that avoid interest, usury, social exploitation as well as support sustainability, asset or utility backed financing, transparency and equitable risk-reward sharing. These principles have universal appeal far beyond the faith conscious community.

    With the Islamic Finance market sized at around USD 3 trillion of assets, bringing even a small portion of Shariah-sensitive liquidity into DeFi will represent a major boost to the total value of the DeFi sector worldwide.

    About MRHB DeFi

    MRHB DeFi is a halal, decentralized finance platform built to embody the true spirit of an “Ethical and Inclusive DeFi” by following faith-based financial and business principles, where all excluded communities can benefit from the full empowerment potential of DeFi.

    The diverse team comprises researchers, technocrats, influencers, Islamic fintech experts & business entrepreneurs, who came together to ensure that MRHB DeFi prevails in a manner that will impact society as a whole, essentially bridging the gap between the faith-conscious communities and the blockchain world.

    MRHB DeFi Official Channels

    Website: https://marhabadefi.com

    Twitter: https://twitter.com/marhabadefi

    Telegram: https://t.me/mdf_official

    Telegram Announcements: https://t.me/marhabadefi_ANN

    YouTube: https://www.youtube.com/channel/UCHuvZG9DbS5ffeoqLX_bERg

    Medium: https://medium.com/@mrhbdefi

    LinkedIn: https://www.linkedin.com/company/marhabadefi

    Facebook: https://www.facebook.com/MRHB-DeFi-105893235209147

    Telegram (Arabic): https://t.me/mdf_arabic

    Telegram (Russian): https://t.me/marhabadefi_russia

    Telegram (Turkish): https://t.me/MarhabaDefiTR

    About Australian Gulf Capital

    Australian Gulf Capital is a prominent global investment management company specializing in alternative investments and providing innovative world-class products and services. AG’s substantial and diversified investor base includes corporations, financial institutions, sovereign wealth funds, superannuation/pension funds, insurance companies, qualified high-net-worth investors, and family offices.

    Australian Gulf Capital’s business activities are distinguished by exceptional vigor and a profound understanding of clients’ needs and risk profiles. They have become the company of choice because of their insightful approach to creating partnerships with clients for sourcing and investing in attractive investment opportunities. Australian Gulf Capital employs high-caliber teams with diverse expertise and extensive experience.



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  • Robinhood Buys Trading Platform Cove Markets

    Robinhood Buys Trading Platform Cove Markets

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    American no-fee broker Robinhood announced on Tuesday that it has acquired cross-exchange trading platform Cove Markets. This will allow investors on Robinhood to easily manage their cryptocurrency accounts.

    The official blog post highlighted that both the companies ‘share a common goal of making investing in cryptocurrencies simpler and lower cost’.

    As a part of the acquisition, Cove Markets co-founders Scott Knudsen and Victor Glava, along with their team, will join Robinhood’s crypto unit. However, neither of the companies have disclosed the amount involved in the
     
     acquisition      deal.

    “Scott, Victor and the Cove Markets team will bolster our crypto trading platform and help us strengthen our leadership in the crypto industry,” Christine Brown, Chief Operating Officer of Robinhood Crypto, said.

    “Their wealth of experience in trading
     
     execution      and crypto market infrastructure will help us to build more powerful trading capabilities, bringing the benefits of better competition in the crypto markets to our customers.”

    Filling the Gap Between Crypto Exchanges

    Founded three years ago, Cove Markets is building tools to help crypto investors manage their accounts maintained across multiple exchanges.

    “Now, we are excited to join Robinhood to help build a world-class platform that can improve trading for millions of customers,” Cove Markets CEO, Knudsen, said.

    Robinhood started to offer cryptocurrency investment services in 2018 in addition to its regular commission-free stock trading services. Though it does not allow investors to own and move crypto like other dedicated crypto exchanges, it is in the process of rolling out a crypto wallet.

    Meanwhile, crypto trading demand on Robinhood soared with the initial rally of meme tokens earlier this year as it was the only credible American exchange to list them at the time. The platform generated more than half of its transaction-based revenue in Q2 2021 from crypto trading, but the demand faded away in the next quarter.

    American no-fee broker Robinhood announced on Tuesday that it has acquired cross-exchange trading platform Cove Markets. This will allow investors on Robinhood to easily manage their cryptocurrency accounts.

    The official blog post highlighted that both the companies ‘share a common goal of making investing in cryptocurrencies simpler and lower cost’.

    As a part of the acquisition, Cove Markets co-founders Scott Knudsen and Victor Glava, along with their team, will join Robinhood’s crypto unit. However, neither of the companies have disclosed the amount involved in the
     
     acquisition      deal.

    “Scott, Victor and the Cove Markets team will bolster our crypto trading platform and help us strengthen our leadership in the crypto industry,” Christine Brown, Chief Operating Officer of Robinhood Crypto, said.

    “Their wealth of experience in trading
     
     execution      and crypto market infrastructure will help us to build more powerful trading capabilities, bringing the benefits of better competition in the crypto markets to our customers.”

    Filling the Gap Between Crypto Exchanges

    Founded three years ago, Cove Markets is building tools to help crypto investors manage their accounts maintained across multiple exchanges.

    “Now, we are excited to join Robinhood to help build a world-class platform that can improve trading for millions of customers,” Cove Markets CEO, Knudsen, said.

    Robinhood started to offer cryptocurrency investment services in 2018 in addition to its regular commission-free stock trading services. Though it does not allow investors to own and move crypto like other dedicated crypto exchanges, it is in the process of rolling out a crypto wallet.

    Meanwhile, crypto trading demand on Robinhood soared with the initial rally of meme tokens earlier this year as it was the only credible American exchange to list them at the time. The platform generated more than half of its transaction-based revenue in Q2 2021 from crypto trading, but the demand faded away in the next quarter.

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  • Asia-based crypto exchange Coinhako introduces new pro platform

    Asia-based crypto exchange Coinhako introduces new pro platform

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    Coinhako, an Asia-based cryptocurrency exchange, announced today the launch of its platform for institutional and high-net-worth customers, Coinhako Privé.

    With the launch, all Coinhako Privé clients enjoy access to the following suite of services:

    • Institutional grade liquidity and digital asset management tools
    • Round-the-clock white-glove services provided by a dedicated personal relationship manager
    • Zero percent trading fees and competitive pricing

    “After years of consultations, experiments and research, we are pleased to officially unveil Coinhako Privé. Created to suit the growing demands for Coinhako services from institutional and High-Networth Individual (HNWI) customers. In order to better serve this growing customer segment, our team set out to craft this bespoke solution to better suit their needs. Coinhako Privé offers specially tailored bespoke services for an esteemed class of clients to manage their digital assets like Bitcoin, Ethereum, and more. Think of it as visiting a bespoke tailor where every detail of your custom-made suit is crafted to perfection, except that with Coinhako Privé, our team of dedicated experts assists you with managing your digital asset portfolio.”
    – The Coinhako Team

    Offer for opening an account at Coinhako Privé

    Upon the creation of a new Coinhako Privé account, clients will be gifted a welcome pack (shown below) to make the onboarding experience a special one. Moreover, those who are among the first 25 to register their interest for Coinhako Privé until November 12th will receive a $200 sign-up bonus.

    Source:
    prive.coinhako.com

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