On Friday, the Avalanche-based options protocol, Arrow Markets, unveiled its successful million Series A fundraising initiative. The global project aiming to “revolutionize crypto options trading” garners support from prominent backers including Framework Ventures, Delphi Ventures, and the Avalanche Blizzard ecosystem fund. Crypto Options Platform Arrow Markets Bags M in Funding Arrow Markets, an options […]
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Wormhole and AMD Forge Alliance to Revolutionize Blockchain Interoperability
On Wednesday, the blockchain interoperability platform Wormhole revealed it is collaborating with the American multinational semiconductor company AMD (Advanced Micro Devices). Wormhole plans to utilize AMD’s Field Programmable Gate Array (FPGA) technology in order to bolster cross-chain communication and multi-chain scalability. AMD’s FPGA Tech to Power Wormhole’s Interoperability Ambitions Wormhole, an interoperability platform for blockchains, […]
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Kresus App and Worldcoin’s Tools for Humanity Forge Web3 Partnership
On Monday, Kresus, the Web3 platform specializing in cryptocurrencies and non-fungible tokens (NFTs), unveiled a collaboration with Tools for Humanity, the creators of the Worldcoin initiative and the World ID identification system.
World ID Meets Kresus App
Kresus and Tools for Humanity (TFH) have unveiled a new partnership. In a joint effort, TFH’s World ID will be integrated into the Kresus App, a crypto and NFT application accessible on both Apple’s App Store and Google Play. Furthermore, Kresus Labs will provide guidance to TFH on product strategy and engage in a collaborative effort for technical implementation, as outlined in the official announcement sent to Bitcoin.com News.
The Kresus App provides users with a Web3 .kresus address and an array of identity tools to streamline transfers with ease and security. “The goal of Kresus has always been to offer a tool for everyone to benefit from the blockchain,” Trevor Traina, the founder and chairman of Kresus Labs explained on Monday. “This is more than just dabbling in crypto since identity touches on all future use cases of Web3 technologies. Proof of personhood will become an essential component of the Web3 ecosystem.”
Traina added:
As such, this collaboration is an excellent enhancement to the work we have already done in supporting Web3 identity.
Following TFH’s revelation of a redesign for its iris-scanning orb architecture, the partnership with Kresus has come to light. In a conversation with Techcrunch, Alex Blania, CEO and co-founder of TFH, likened the upcoming iteration to an “Apple product.” As of January 16, 2024, the Worldcoin system had successfully processed a staggering 3 million unique individuals. In December 2023, the World App soared to the top of the finance charts in Portugal and secured the second spot in Spain. However, worldcoin (WLD), the project’s native crypto asset, has experienced a 40% decline in value over the past 30 days.
As stated in Monday’s announcement, further information on utilizing World ID to access the Kresus App will be unveiled “in due course.” Blania said “It is exciting to see another quality wallet developer team integrating World ID and joining the World App ecosystem. Through this collaboration, our teams expect to learn a lot from each other in terms of product strategy and technical implementation over the coming months,” the TFH CEO and co-founder added.
What do you think about the partnership between Kresus and Worldcoin’s TFH? Share your thoughts and opinions about this subject in the comments section below.
BingX Rebrands to Forge Better Crypto Traders
PRESS RELEASE. BingX, a global leading crypto exchange, proudly announces the launch of its transformative rebranding initiative, solidifying its position focusing on trader empowerment. The rebranding reflects BingX’s commitment to inspiring its users and keeping them ahead of the curve, ensuring secure, efficient, and effective trading experiences.
BingX has updated its visual identity to make the trading experience more intuitive and user-friendly. The revamped design simplifies its iconic logo by smoothing the outline and removing internal shading, focusing on a cleaner and more direct aesthetic that aligns with users’ trading goals. Over the next few months, BingX will undergo a comprehensive visual transformation, including updates to its color palette and typography across mobile and desktop platforms.
This rebranding is driven by BingX’s expansion of its target audience and services, adapting to the dynamic market and evolving needs of its users. Renowned for its focus on crypto adoption for beginners through copy trading, BingX now is broadening its reach to cater to crypto traders across the spectrum, introducing an array of state-of-the-art features to support a diverse user base. At the heart of this rebranding is BingX’s vision to empower traders with all-round innovation, including its established crypto trading functionalities and new tools.
As BingX’s new tagline, “Empowering Traders” is upgraded from previous “Trading Made Easy,” signifying its core mission to support crypto traders at every level to excel in their trading endeavors. Both taglines are deeply rooted in BingX’s consistent mission of providing trustworthy and transparent service for its users, and making crypto accessible and friendly to all. Positioned for the next phase, BingX remains dedicated to fostering user growth by providing customized products, services, and expertly crafted tools to enhance trading proficiency.
Megan Nyvold, Head of Branding at BingX, reflects on the company’s journey and the new brand direction: “Over the past five years, BingX’s vision to build a gateway for the next billion crypto users has been unwavering. As part of this evolution, we have refined our core values with a renewed emphasis on promoting diversity. As we introduce our refreshed brand identity, we reaffirm our assurance of empowering our users, focusing on a more professional and user-centric trading environment that aligns with our vision for collective success.”
As BingX continues to redefine the cryptocurrency exchange landscape, its steadfast focus on user empowerment, reliability, innovation, and wide accessibility fosters an inclusive ecosystem where everyone can confidently explore the potential value and benefits of cryptocurrency investment.
About BingX
Founded in 2018, BingX is a leading cryptocurrency exchange, serving over 5 million users worldwide. BingX offers diversified products and services, including spot, derivatives, copy trading, and asset management – all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency.
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Ark Invest, 21shares, and Vaneck Forge Ahead With Spot Ethereum ETF Applications
The U.S. Securities and Exchange Commission (SEC) has temporarily postponed its ruling on seven bitcoin exchange-traded fund (ETF) applications. Meanwhile, a fresh wave of applications has emerged, with Ark Invest and 21shares, in addition to Vaneck, seeking approval for spot ethereum ETFs. These forthcoming funds, should they receive the green light, will enable investors to gain direct access to ether’s price movements.
Ethereum ETF Frenzy
As fund managers eagerly pursue SEC approval for their spot bitcoin ETFs, this week has witnessed a dynamic twist with the introduction of two ethereum-based spot ETF applications. In the initial submission, Ark Invest and 21shares have joined forces, with the latter set to assume the role of the trust’s sponsor. Notably, the ETF will entrust Coinbase Custody with the crucial responsibility of safeguarding the fund’s valuable ether reserves.
“The trust will not invest in derivatives,” the Ark and 21shares’ filing details. “The sponsor believes that the shares are designed to provide investors with a cost-effective and convenient way to invest in ether without purchasing, holding and trading ether directly.”
BOOM: ARK just filed for a Spot Ether ETF, the first one.. prob more coming imminent pic.twitter.com/PjK5aSNPlS
— Eric Balchunas (@EricBalchunas) September 6, 2023
In a development that occurred back in June 2023, Coinbase was appointed as the surveillance-sharing agreement (SSA) partner for Ark Invest and 21shares. This strategic alliance comes as these entities gear up for their ETF venture. Meanwhile, the fund also secured a partnership with the Bank of New York Mellon and has its sights set on listing through Cboe’s BZX exchange.
Vaneck, in a parallel move, has embarked on a comparable journey, with Coinbase serving as their SSA partner as well. Vaneck assumes the crucial roles of market agent and sponsor for the ETH trust, with State Street Bank handling the administration aspects. According to Vaneck’s filing, each share will represent a fractional interest in the trust’s net assets, primarily comprising ETH securely held by the custodian on behalf of the trust.
“The trust generally does not intend to hold cash or cash equivalents,” Vaneck’s registration details. “However, there may be situations where the trust will unexpectedly hold cash on a temporary basis.”
What do you think about the two spot ether ETF filings? Share your thoughts and opinions about this subject in the comments section below.
Xi Jinping: BRICS to Forge Stronger Partnership, People Do Not Long for New Cold War or Small Exclusive Bloc
Chinese President Xi Jinping stated at the BRICS summit that “What people in various countries long for is definitely not a new Cold War or a small exclusive bloc.” He stressed that the BRICS group will expand and promote global multipolarity. “Hegemonism is not in China’s DNA; nor does China have any motivation to engage in major-power competition,” Xi claimed.
Xi Jinping’s BRICS Summit Speech
Chinese President Xi Jinping arrived in South Africa on Monday to attend the 15th BRICS Summit in Johannesburg. All leaders of the BRICS nations (Brazil, Russia, India, China, and South Africa) are attending, with Russian President Vladimir Putin participating via videoconference. In addition, more than 40 other heads of state are also attending, according to South Africa, the host of the BRICS summit this year.
On Tuesday, the Chinese leader was scheduled to deliver a speech at the BRICS Business Forum, a key event at the summit, alongside other BRICS leaders. However, Xi unexpectedly skipped the event. Instead, Chinese Commerce Minister Wang Wentao delivered Xi’s prepared statement at the forum.
According to Xi’s statement, “Right now, changes in the world, in our times and in history are unfolding in ways like never before, bringing human society to a critical juncture.” Noting that “Our world today has become a community with a shared future in which we all share a huge stake of survival,” the Chinese president stressed:
What people in various countries long for is definitely not a new Cold War or a small exclusive bloc; what they want is an open, inclusive, clean and beautiful world that enjoys enduring peace, universal security and common prosperity. Such is the logic of historical advance and the trend of our times.
Xi explained that the rise of emerging markets and developing countries (EMDCs) represented by the BRICS economic bloc is ”fundamentally changing the global landscape.” He stressed, “Whatever resistance there may be, BRICS, a positive and stable force for good, will continue to grow,” emphasizing:
We will forge stronger BRICS strategic partnership, expand the ‘BRICS Plus’ model, actively advance membership expansion, deepen solidarity and cooperation with other EMDCs, promote global multipolarity and greater democracy in international relations, and help make the international order more just and equitable.
“The gathering between BRICS countries and more than 50 other countries in South Africa today is not an exercise of asking countries to take sides, nor an exercise of creating bloc confrontation. Rather, it is an endeavor to expand the architecture of peace and development. I am glad to note that over 20 countries are knocking on the door of BRICS. China hopes to see more joining the BRICS cooperation mechanism,” Xi’s statement details. According to South Africa, 23 countries have formally applied for BRICS membership. The Chinese leader further stated:
Hegemonism is not in China’s DNA; nor does China have any motivation to engage in major-power competition. China stands firmly on the right side of history, and believes that a just cause should be pursued for the common good.
What do you think about the statements by Chinese President Xi Jinping? Let us know in the comments section below.
Societe Generale Division Forge Receives Crypto Services License From AMF
French banking giant Societe Generale’s subsidiary, Forge, has been issued with the first crypto services license issued under the country’s crypto assets laws. According to France’s Autorité des Marchés Financiers, the license allows Forge to offer services which include crypto custody, trading, and sales.
License Said to Enable Forge to Meet Institutional Demand for Digital Assets
Forge, the crypto division of France’s banking giant Societe Generale, recently received what is being described as the first crypto services license issued under the country’s crypto assets laws, a report has said. French market regulator Autorité des Marchés Financiers (AMF) stated on its website that the license allows Forge to offer services which include crypto custody, trading, and sales.
According to a Reuters report, the license given to Forge does not subject the Societe Generale’s subsidiary to the same onerous rules faced by other crypto entities, particularly in the areas of corporate governance, information technology, and compliance.
Jean-Marc Stenger, the CEO of Forge, said the license enables his company to meet demand from institutional clients for digital assets.
“This step will allow us to continue supporting our institutional clients wishing to benefit from services on digital assets that meet the highest standards of compliance and banking security,” Stenger said.
What are your thoughts on this story? Let us know what you think in the comments section below.
Ethereum Developers Forge On Despite ETH Price Slump FUD
When a crypto asset fails to perform in terms of price it rapidly gets a big dose of chagrin from mainstream media and those that have lost money trading it. Ethereum is currently the prime example as investors begin to sour despite ongoing developments to the technology.
Ethereum Roadmap Still Solid
A major part of the crypto angst directed at Ethereum stems from the delays in solving the scalability issues that have plagued the project as its user base has grown. In its current state the network is ill equipped to handle the load it is expected to in order to fulfill its destiny as a ‘global computer’.
Granted, there have been setbacks to Ethereum’s mammoth scaling project which is expected to get off the ground within the next couple of months and continue rolling out into 2020. Compared to its rivals, EOS which has been plagued with centralization concerns, and Cardano which has failed to materialize at all, ETH is still fundamentally strong.
Community leader and Ethhub developer Anthony Sassano is still bullish. A recent tweet serves as a reminder of the work still being carried out under the hood and the expected roll-out dates for Ethereum 2.0.
Ethereum 2.0's current status:
Phase 0/Beacon Chain: Spec frozen, short-lived testnets live, expected launch 2020
Phase 1/Shard Chains: Spec to be frozen soon
, testnets soon
, expected launch 2020
Phase 2/State Execution: Spec in heavy r&d, testnets & launch TBA
— Anthony Sassano (@sassal0x) September 5, 2019
Others have added that the developments will also be bullish for price as a lot of ETH will be locked up for phase 0 which will have the effect of lowering the token supply. Demand for ETH as a staking token will also have a positive effect on price as the current consensus model clearly has limitations.
Not All Are Convinced
Investors and traders usually only pay attention to price and not all are happy with Ethereum’s recent performance on that front. The fact that every altcoin has been battered as Bitcoin dominance surged to a two year high has been lost on some.
According to Bloomberg, co-founder and managing partner at Union Square Ventures, Fred Wilson, appears to be falling out of love with Ethereum. In 2017 he predicted that the market capitalization of ETH would surpass BTC but it has done the complete opposite, falling to ten percent of its big brother’s.
In a recent blog post Wilson added;
“Ethereum, as many of you know, confounds me. It has shown the way to so many important things; smart contracts, programmable trust-free computing, potentially proof of stake, and a lot more. But it remains hard to build on, scaling issues abound, and many developers are looking elsewhere.”
This could not be further from the truth since Ethereum still has far more developers than any other platform and remains the current smart contract standard for the industry with distribution that cannot be matched.
Unfortunately it is the price that most look at first and there is nothing good to say about that at the moment. At the time of writing ETH has dropped 2% on the day in a fall back to 5.
Image from Shutterstock
The post Ethereum Developers Forge On Despite ETH Price Slump FUD appeared first on NewsBTC.
Facebook Seeks Counsel to Forge Blockchain Partnerships for New Products
Facebook is looking to hire a lead commercial counsel for blockchain to negotiate partnerships needed to launch new products.
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