Crypto Box Shilling

Coinbase Secures MPI License From MAS Singapore, Details https://coingape.com/coinbase-secures-mpi-license-from-mas-singapore-details/?utm_source=elena&utm_medium=telegram

Xiang Xiang Unicoin Arrested By Hong Kong Police In JPEX Case: Report Two other people and Xiang Xiang Unicoin arrested by Hong Kong police in the Unicoin crypto case. Investigation ongoing; total funds involved reach HK$1.499 billion. According to Sing Tao Daily, the Hong Kong police have made significant strides in the ongoing JPEX case, with three more individuals taken into custody, bringing the total number of arrests to 15. One of the newly apprehended suspects is a 29-year-old Internet celebrity, “Xiang Xiang,” whose real name is Liang. The other two individuals arrested are a 23-year-old named Zhong and a 28-year-old named Huang. Zhong Nan, the 23-year-old, holds the position of director at Lupin, another over-the-counter cryptocurrency exchange store. She is an employee of Unicoin, an over-the-counter cryptocurrency exchange shop, and is popularly referred to as the “Unicoin Resident Analyst” on social media. Her YouTube channel and Instagram account, where she shares investment insights and photos, have earned her the “Goddess of the Coin Industry” title among local netizens. The police have emphasized that their investigation is ongoing, and further arrests are not ruled out. The Commercial Crime Bureau’s officers are actively pursuing leads to provide crucial information to aid the investigation.

FTX Files Lawsuit Against Former Employees Of Salameda With $157 Million Lost FTX, the crypto exchange that recently filed for bankruptcy, has filed a lawsuit against former employees of Salameda, an entity linked to the exchange, CoinDesk first discovered related court documents. FTX claims that the defendant, taking advantage of their positions and connections, orchestrated preferential transfers of assets, prioritizing their own interests over other customers. They controlled multiple firms with accounts on FTX.com and FTX US, allegedly making fraudulent withdrawals shortly before FTX suspended withdrawals on November 8, 2022. The total sum involved in these questionable transfers amounted to over $123 million out of a total of $157.3 million (based on August 31, 2023, pricing), and a significant portion of these transfers occurred on or after November 7, just hours before the suspension of withdrawals. Meanwhile, Bankman-Fried‘s legal battles continue to mount. His request for release on bond was previously denied, with allegations of witness tampering. An appeals court has now rejected his latest attempt to secure his release. Bankman-Fried faces a potential sentence of over 100 years if found guilty on all charges. His trial is set to commence on October 3 and is expected to last approximately six weeks.

Magic Eden Introduces Solana cNFTs for Effortless NFT Minting Magic Eden, where cutting-edge technology meets the thriving NFT industry. In this article, we will explore how Magic Eden is transforming the landscape of NFT minting through the integration of Solana compressed NFTs (cNFTs). We’ll delve into the benefits of cNFTs, their impact on scalability and affordability, and the potential they hold for various sectors, including gaming, events, music, and the Metaverse. Let’s dive in! cNFTs offer a revolutionary approach to digital collectibles by incorporating compact off-chain data storage. One of the key advantages of cNFTs is their unparalleled scalability. By leveraging off-chain data storage, Magic Eden enables the creation of up to 1 million cNFTs for a fraction of the cost compared to Ethereum-based NFTs. While Ethereum transactions can range from $2.9 to over $30 for a single NFT, cNFTs offer a cost-efficient alternative, with approximately $110 enabling the minting of 1 million cNFTs. This remarkable cost-effectiveness paves the way for broader adoption and accessibility within the NFT ecosystem. Magic Eden’s introduction of cNFTs is a significant step towards democratizing digital collectibles.

Senco Gold & Diamonds launches virtual jewellery showroom ‘Sencoverse’ on the Metaverse Senco Gold & Diamonds, the Indian jewellery retailer with a legacy of over five decades, has taken a major step forward in the fast-evolving digital landscape by launching its first virtual showroom, ‘Sencoverse’ on the metaverse. It is India’s first virtual jewellery showroom on metaverse aimed at connecting with the new age customers to redefine their shopping by providing them a more customized and seamless experience. Sencoverse, the digital platform from Eastern India’s largest jewellery retailer, is a convergence of technology and artistry to bring the brand’s exquisite jewellery to life in the virtual realm. The initiative offers an end to end shopping experience to customers, from hassle-free browsing of the virtual showroom to selection of items to receiving the chosen pieces at their doorsteps. Expressing his delight at the launch of this new initiative, Suvankar Sen, MD & CEO of Senco Gold & Diamonds, said, ‘The launch of Sencoverse marks a significant leap in our digital transformation journey and our commitment to offer exceptional and hassle-free shopping experiences to our valued customers. We believe that the digitally savvy millennials and Gen Z shoppers are the future of retail.

Hong Kong Police Arrest Six In JPEX Case Involving Approximately HK$1 Billion According to the Hong Kong Police, the total sum at stake in the JPEX investigation is close to HK$1 billion. In the ongoing investigation into the virtual asset trading platform JPEX, Hong Kong police have made significant progress, resulting in the arrest of four men and two women across different districts. The individuals are detained for investigation, facing charges of “conspiracy to defraud.”. This case underscores the significant scale and impact of alleged fraudulent activities associated with JPEX. JPEX, in response to the investigation, has criticized the approach taken by the Securities and Futures Commission (SFC), labeling it as unfair and in contradiction to the government’s policy of positioning Hong Kong as a WEB3.0 capital. Despite the ongoing legal proceedings, JPEX has affirmed its commitment to continuing its operations and providing priority withdrawal assistance to its users. The arrests and ongoing investigation demonstrate the Hong Kong authorities’ dedication to addressing potential fraudulent activities within the virtual asset trading sector. It serves as a reminder of the importance of regulatory oversight and vigilance in ensuring the integrity and security of the cryptocurrency and blockchain space.

Grayscale Champions Ethereum’s Future With ETHW Initiative Grayscale has made a significant decision regarding Ethereum’s Ethereum World (ETHW) tokens. This decision stems from the firm’s assessment that the product’s custodian does not offer support for ETHPoW (Ethereum Proof of Work) and has not established a liquid trading venue for ETHPoW tokens. Grayscale’s actions signify the challenges faced by cryptocurrency asset managers when dealing with assets that may not align with their intended strategies or face insufficient infrastructure support. On behalf of its shareholders, Grayscale has chosen to irrevocably forfeit the ETHW tokens allocated to record date shareholders as of September 26, 2022. Grayscale’s ETHE and GDLC funds passively received approximately 3.06 million and 40,000 ETHW airdrop tokens last year, representing a substantial amount of assets. By relinquishing the rights to these tokens, the firm is acting in its capacity as an agent of the record date shareholders, prioritizing their interests. It’s important to clarify that Grayscale‘s decision is solely related to its role as the agent of the record date shareholders and does not impact its status as the sponsor or manager of the respective products.

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CZ says Binance.US CEO departed to take a break Binance CEO Changpeng 'CZ' Zhao attributed the recent departure of the head of the crypto exchange's U.S. arm to the need for a break. "Brian Shroder is taking a deserved break after accomplishing what he set out to do when he joined two years ago," Zhao wrote on X on Friday. "Under his leadership, Binance.US raised capital, improved its product and service offerings, solidified internal processes, and gained significant market share, all of which helped to build a more resilient company for the benefit of customers." "The crypto market is in a different place now than it was two years ago, with a rapidly evolving and increasingly hostile regulatory environment. Norman Reed — former SEC, New York Fed, Ripple and DTCC executive — is the right person to lead Binance.US in this market," he added. The Block reported earlier in the week that Shroder will be departing from the exchange, two years after he joined in 2021. Binance.US also let go nearly a third of its staff. The workforce reduction comes as Binance.US brings in ever decreasing cryptocurrency trading volumes. The exchange has seen volume decline over the past five months, with Binance.US seeing trades total just $290.4 million in August compared to $17.6 billion in March, according to The Block's Data Dashboard.

🟠 CZ says Binance.US CEO departed to take a break Binance CEO Changpeng 'CZ' Zhao attributed the recent departure of the head of the crypto exchange's U.S. arm to the need for a break. "Brian Shroder is taking a deserved break after accomplishing what he set out to do when he joined two years ago," Zhao wrote on X on Friday. "Under his leadership, Binance.US raised capital, improved its product and service offerings, solidified internal processes, and gained significant market share, all of which helped to build a more resilient company for the benefit of customers." "The crypto market is in a different place now than it was two years ago, with a rapidly evolving and increasingly hostile regulatory environment. Norman Reed — former SEC, New York Fed, Ripple and DTCC executive — is the right person to lead Binance.US in this market," he added. The Block reported earlier in the week that Shroder will be departing from the exchange, two years after he joined in 2021. Binance.US also let go nearly a third of its staff. The workforce reduction comes as Binance.US brings in ever decreasing cryptocurrency trading volumes. The exchange has seen volume decline over the past five months, with Binance.US seeing trades total just $290.4 million in August compared to $17.6 billion in March, according to The Block's Data Dashboard. Source @DeFi_Updates

Islamic Coin is now available on Republic ahead of its exchanges launch! According to the Islamic Coin's socials the official public token offering via Reg D is now live. Before its grand entry on both centralized and decentralized exchanges coming later in September, Islamic Coin is offering a golden opportunity to secure $ISLM at a presumably better price. Islamic coin is the native currency of HAQQ Network, a blockchain with a Proof-of-Stake algorithm and high transaction processing speed. Islamic Coin is supported by UAE Royal Family and has already secured $400M from private investments and from ABO Digital and now is ready to go public. Collaborations with Sushi and Pyypl further expand Islamic Coin's ecosystem, providing liquidity and staking assets, and setting the stage for lucrative token mining opportunities. The coin has a potential audience of over 2 billion holders and they already have the biggest Twitter account among crypto Muslim community with 1.3M followers. If you also want to participate in public sale and buy Islamic Coin - here's the link.

​​Chinese Province Fujian Releases New Policy on NFT Trading A “Reminder Letter” from the “Working Group of Fujian Province to Clean Up and Rectify Various Trading Venues on Preventing NFT Violations” has been extensively disseminated online. The paper cites four warnings on NFT-related transactions on Fujian Province trading platforms, notably “no NFT transactions without authorization” and no covert involvement in NFT operations in contravention of rules. Fujian Provincial-Local Financial Supervision and Administration acknowledged the document’s legitimacy on June 10. The paper says Fujian trading venues can’t conduct NFT-related activity. Many NFT platforms don’t fit the article’s definition of trading venues. The person that confirmed the documents said added that they follow ‘7+4’ local financial oversight. The document noted that several NFT items had surfaced lately. The group claims NFTs are readily linked to criminal activities including fraud, speculation, and money laundering, producing cascading dangers, and therefore, added that from now on Fujian trading venues must get authorization for NFT trades. According to the letter, criminals might use trading venues’ compliance credentials to engage in illicit operations since they participate in NFT issuance and trading on behalf of co-sponsors, strategic partners, technical support parties, etc. If the trading venue is not officially known, it will be blacklisted, suspended for rectification, or both. Concerning investor protection, the group said all trading venues should advise clients to build proper trading conceptions, oppose speculation, and prevent trading product prices from being inflated and straying from the law of value. If unlawful acts are detected, they should swiftly report them. Furthermore, the document instructs all trading platforms in Fujian Province to not engage in NFT issuance and trading activity.

MetaMask Launches New Feature To Expand Compatibility Beyond Ethereum On September 12, wallet provider MetaMask introduced a groundbreaking feature called “Snaps,” signaling a significant expansion of its capabilities beyond the Ethereum Virtual Machine (EVM). Snaps, essentially software modules, can be seamlessly integrated into the wallet. This integration empowers the wallet to function efficiently across a diverse range of blockchain ecosystems, thanks to specialized code. Until now, it primarily served Ethereum and Ethereum-compatible blockchains, such as BNB Chain, Polygon, Arbitrum, and Optimism. The wallet plans to launch more than 25 Snaps initially, each rigorously audited and whitelisted by the team. Furthermore, it will extend the privilege of independent publishing and maintenance of Snaps to third-party developers. In an official announcement, MetaMask expressed excitement about the launch of Snaps, describing it as the result of years of dedicated research and development. They emphasized the flexibility and adaptability of Snaps, allowing users to incorporate additional enhancements to their wallets at runtime.

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🪙 Ethereum Plummeted In The Short Term, Falling Below $1,600 Ethereum (ETH) has taken a concerning bearish turn, breaching critical support levels and raising concerns about a potential death cross. With its price falling below $1,600, ETH is currently trading at $1,595, experiencing a daily decline of 1.35%, according to CoinMarketCap data. The crypto community is on edge as Ethereum’s decline continues for the second consecutive month since breaking above the $2,000 mark in mid-July. This bearish sentiment comes despite Grayscale‘s recent victory in its Spot ETF appeal. Adding to the unease is the specter of an impending $3 billion liquidation. The defunct crypto exchange FTX reportedly holds digital assets worth $3 billion, with Ethereum and Solana making up a significant portion of its holdings. Fears of FTX‘s potential liquidation have prompted traders to sell their assets, contributing to a lack of sustained price action in these cryptocurrencies. Strategic crypto traders are closely watching market sentiment, looking for opportunities to capitalize on the prevailing fear, uncertainty, and doubt (FUD). In these challenging times for the crypto market, investors are keeping a keen eye on Ethereum’s performance and hoping for a reversal in its bearish trend as they navigate the turbulent waters of digital assets.

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🇰🇷 South Korea’s Neowiz Levels Up With Avalanche In Web3 Gaming Collaboration Leading South Korean game publisher Neowiz is making waves in the world of blockchain gaming, as it announces its foray into the burgeoning Web3 gaming space through its division, IntellaX. Neowiz, a top-five game company in South Korea by market value, is set to join forces with the Web3 game education project, Avalanche Arcad3. The collaboration between Neowiz and Avalanche Arcad3 will be officially sealed at Avalanche House Seoul 2023, a one-day conference within Korea Blockchain Week. IntellaX, Neowiz’s Web3 arm, will take center stage for a strategy chat with Ed Chang, Head of Gaming at Ava Labs, the organization behind the blockchain. This strategic alliance comes amid the network’s rising momentum in Asia, particularly in South Korea and the gaming sector. Neowiz becomes the fourth top-100 gaming company by market cap to align with Avalanche, joining East Asian giants like Alibaba, Tencent, and GREE. Avalanche Arcad3, a collaborative Web3 gaming education program, boasts an impressive first cohort, including TSM/Blitz, Shrapnel, Merit Circle, and Neowiz. This initiative offers in-depth content, technical support, networking, and more, positioning Neowiz to make a substantial entry into the exciting world of Web3 gaming.