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  • Aptos Ranks #1 As the NFT Sector’s Renaissance Sparked Increased Activity on the Aptos Blockchain — Top 3 Coins to Watch for Jan 30 — Feb 5

    Aptos Ranks #1 As the NFT Sector’s Renaissance Sparked Increased Activity on the Aptos Blockchain — Top 3 Coins to Watch for Jan 30 — Feb 5

    Aptos Ranks #1 as the NFT sector’s renaissance sparked increased activity on the Aptos blockchain — Top 3 Coins to Watch for Jan 30 — Feb 5

    The uptrend continued throughout Week 4 of 2023, causing the total cryptocurrency market capitalization to climb from $1.07 trillion towards $1.09 trillion. While the uptrend appears to have slowed down last week, the vast majority of cryptocurrencies has ended the week in the green. In fact, from the Top 20 cryptos only ETH (Ethereum), and SHIB (Shiba Inu) ended last week in the res, posting losses of 1% and 1.5% respectively. AVAX (Avalanche) and MATIC (Polygon) on the other hand, both appreciated for more than 15% during the same period.  Who are going to be the gainers of this week?

    3. dYdX (DYDX)

    dYdX is a non-custodial decentralized cryptocurrency derivatives exchange. The same named DYDX token is a governance token for the dYdX exchange protocol. Token holders govern the dYdX Layer 2 protocol to align incentives between traders, liquidity providers, and partners. Aside from governance, traders are eligible for trading discounts of up to 50% when trading on dYdX provided they hold the required number of tokens. dYdX governance token, which launched in early September 2021, was airdropped to protocol users retroactively based on their trading volumes on the platform prior to its full decentralization. 25% of the initial token supply were distributed to users who traded on the dYdX in the form of trading rewards, while liquidity providers benefited from the reward pool that consisted of 7,5% of the initial supply. In addition, a community treasury was put in place to grow the ecosystem through grants and liquidity mining programmes.

    Buy/Sell DYDX

    dYdX decides to postpone token unlocks for investors, employees, and consultants to the end of 2023

    dYdX has recently announced that the dYdX Foundation, dYdX Trading Inc. And certain other parties have signed an amendment which among other things extended the lock-up period of tokens issued to investors, employees, and consultants at dYdX governance token inception in September 2021. This means that the 150 million tokens (worth around $282 million) that would have released on February 3, will be locked for 10 more months (more precisely until December 1, 2023). 

    If the whole number of tokens were to be released in the beginning of February, this would have more than doubled the circulating supply of DYDX, which would inevitably affect the token’s pricing. It is therefore not surprising that the decision to postpone the unlocks was well received by investors and that the DYDX token appreciated by more than 30% last week. However, extending the locked period only shifted a significant part of the impact to the end of the year, when we will, whether you like it or not, likely see the significant dYdX market dilution.

    2. Uniswap (UNI)

    UNI is the governance token of the automated market maker (AMM) protocol Uniswap. UNI tokens are ERC-20 tokens that allow holders to decide on the future of Uniswap by voting on proposals. Uniswap – the platform, which facilitates quick swaps between various Ethereum-based tokens, has recently been struggling to keep its users and market share because of high fees on Ethereum. In March this year the project released Uniswap V3, a new and improved version of the AMM protocol on Ethereum mainnet. In July 2021 Uniswap tried to reduce the costs of trades by launching on two Ethereum Layer 2 networks: Optimistic Ethereum and Arbitrum. In its 4 years of existence, Uniswap has pioneered several DeFi functionalities and supported almost $1.3 trillion in cumulative volume.

    Buy/Sell UNI

    Uniswap DAO favours the deployment of Uniswap v3 on BNB Chain

    A recent survey of Uniswap DAO users showed that the community is clearly favouring a deployment of Uniswap v3 on BNB Chain. The community survey saw participation of 6,495 Uniswap addresses, which is the highest number of voters to participate in a single Uniswap Governance vote in the DAO’s history. 0xPlasma Labs, the proposer of the deployment of Uniswap v3 to BNB Chain noted:

    While the vote held earlier this month was just a “temperature check” to gauge how the community feels about the deployment, a “real” vote could be taking place very soon due to the overwhelming support of the integration. Uniswap expects that the integration with the BNB Chain could bring in more than $1 billion of additional TVL and increased trading volume by giving BNB Chain’s large and growing user base exposure to this AMM protocol. It is estimated that the integration could bring in from 1 to 2 million new Uniswap v3 users and new UNI holders. Once Uniswap v3 is live on the BNB Chain, we can therefore expect positive influence on Uniswap ecosystem and UNI price performance.

    1. Aptos (APT)

    The Aptos Lab officially launched officially launched Aptos mainnet in October 2022, after raising more than $350 million in funding from several prominent investors in early 2022. Aptos is therefore a relatively new but highly scalable Layer 1 network that was brought to life by a team of ex-Diem stablecoin (previously known as Libra project) developers. However, team members are not the only thing that Aptos has in common with Diem, as the new blockchain utilizes Move, a programming language that was initially developed for Meta’s Diem project. The low latency Byzantine Fault Tolerant (BFT) engine allows Aptos to reach consensus extremely quickly – we are talking about sub-second block finality. Combined with high scalability the team believes that Aptos is the most product-ready blockchain in the world that can withstand the industry’s move to Web3.

    Buy/Sell APT

    Aptos surpassed 75 million transactions per week as the blockchain is gaining popularity among NFT creators and buyers

    Several collections that have attracted a large amount of attention have recently launched on Aptos blockchain, including Aptomingos, a collection of comic flamingos, and Aptos Monkeys, a collection of cute monkeys with jungle vibes. Combined with other NFT drops the sale of these non-fungible tokens generated tens of thousands in trading volume per day on Aptos. In addition, last week Aptos blockchain has facilitated more than 75 million transactions. The huge interest in Aptos NFTs seems to be the key fuel of the currently ongoing APT rally. But the growth of NFT sales on Aptos is not at all coincidental as the Aptos team had made a structured plan to improve operations on NFT data by dropping prices for dynamic NFTs (by up to 10x) and building gas-efficient data structures with end-to-end support already in 2022. According to the goals Aptos developers set last year, they also plan to deploy an advanced gas model that would separate storage and execution costs and thereby provide a purely demand-driven gas costs for execution in late Q1/early Q2 this year. To further popularise and promote Aptos as a NFT friendly blockchain, the Aptos team recently held an NFT meetup event and will be holding the Aptos World Tour event with the first out of three stops being in Seoul, South Korea next week.

    On the tailwind of increased usage that has resulted in extraordinary on-chain metrics, Aptos has gained more than 30% last week. In fact, Aptos is the most profitable cryptocurrency from the top 100 cryptocurrencies year-to-date, having gained more than 430% since the beginning of the year, whereas the second-placed Gala (GALA) trails with “just” a +260% price increase in the same period. During the bull run, on January 26, APT has also set its ATH price of $19.92. At the time of writing APT is trading 10% below its ATH at around $18 per token. While it seems that the bull run could continue for a bit, it should be noted that the extreme bullish activity could quickly turn into a sharp correction of the price of Aptos.

  • Amazon Is Launching Its Own Crypto Program, With NFT Initiative Expected in Spring, per Report

    Amazon Is Launching Its Own Crypto Program, With NFT Initiative Expected in Spring, per Report

    Key takeaways:

    • Amazon could be launching its own cryptocurrency enterprise this spring, per a report by Blockworks
    • According to sources, Amazon’s crypto initiative focused on NFTs and gaming could be launching in April
    • Amazon has been eyeing the Web3 sector for a while but made no major moves so far

    Amazon is in contact with several high-profile crypto companies, according to sources

    E-commerce giant Amazon is planning to launch a digital assets enterprise, according to unnamed sources cited in a January 26th report by Blockworks.

    The initiative is expected to include non-fungible tokens (NFTs) and is focused on the blockchain-based gaming sector and related NFT applications. According to one source, an example of what Amazon has in mind is giving Amazon customers free NFTs to play games. The type of games and what blockchain the NFTs will be minted on are unknown.

    The effort is still developing, and April has been mentioned as a possible launch date. Amazon is reported to have been shopping the digital collectibles effort to various players in the industry, including layer-1 blockchains, blockchain-based gaming startups and developers, and digital asset exchanges. 

    It is not yet clear who is leading the NFT initiative at Amazon or the extent of Amazon’s Web3 ambitions and end goals. One source reportedly said: 

    “We knew [Amazon’s cryptocurrency enterprise] was possible. But now it seems like it’s really happening. That’s going to affect the existing players in the space — if they execute and do this right and are smart about it.”

    The e-commerce and cloud computing giant has been eyeing the blockchain space for a while, but has never made any concrete moves, apart from hiring Web3 developers to enhance digital currency payments for AWS users.

    The direct involvement of Amazon in the crypto industry could be a major catalyst for the markets. Case in point, in the summer of 2021, Bitcoin rallied over 10% mere moments after the rumors started circulating that Amazon was gearing up to accept Bitcoin as a payment option. Ultimately, the rumor proved to be false.

  • 80% of Voters Support Deployment of Uniswap v3 on BNB Chain

    80% of Voters Support Deployment of Uniswap v3 on BNB Chain

    Uniswap (UNI) decentralized exchange (DEX) image cover

    Key takeaways:

    • 0xPlasma Lab proposed integration of Uniswap v3 with BNB Chain
    • The proposal was meant to gauge the interest of the Uniswap community and received 80% of the vote
    • The authors of the proposal argue that deployment of Uniswap v3 on BNB Chain could greatly benefit both blockchain products

    20 million UNI tokens were cast in favor of BNB Chain integration

    A proposal by DeFi and NFT aggregator 0xPlasma Labs to deploy the decentralized exchange protocol Uniswap on BNB Chain garnered 80% of the vote on the Uniswap DAO. In total, 20 million UNI tokens were cast in favor of the proposal, while 4.9 million were cast against it.

    BNB Chain (formerly Binance Smart Chain) is the blockchain platform that powers the BNB cryptocurrency. It is a high-performance, decentralized network that enables the creation of digital assets and the execution of smart contracts. BNB is used to pay for transaction fees on the Binance exchange, as well as other services on the Binance ecosystem.

    0xPlasma Labs cited several reasons why it would be beneficial for the world’s most popular DEX to integrate with BNB Chain. The company argued that BNB Chain is the logical next step for Uniswap v3’s expansion due to a multitude of reasons, including:

    • A large and growing user base
    • High transaction speeds and low fees
    • BNB Chain’s robust DeFi and dApp ecosystem 
    • BNB Chain’s support for tokenization and inclination to support new DeFi use cases
    • Potential integration with Binance’s products and services
    • $1 billion+ of TVL and increased trading volume (which should result in new inflows in the form of collected trading fees)
    • Potential increase in the adoption of Uniswap’s NFT offering
    • 1 to 2 million new Uniswap v3 users and new UNI holders

    The 0xPlasma Labs team highlighted several reasons why the BNB Chain ecosystem would benefit from Uniswap deployment. “BNB Chain has a big DeFi development community that needs a more advanced DEX ecosystem to boost the general DeFi ecosystem development,” wrote the authors and added, “We need to educate all BNB community about what is real DeFi and yield using Uniswap v3 as a reference.”

    At the time of the proposal, Uniswap v3 had a TVL (total value locked) of $3.65 billion, split among 5 chains: Ethereum ($3.41B in TVL), Polygon ($101.93M in TVL), Arbitrum ($85.98M in TVL), Optimism ($47.04M in TVL), and Celo ($1.26M in TVL).

    The authors estimate that a potential TVL from BNB Chain integration would amount to $1.18 billion, which would position BNB Chain firmly in second place, trailing only Ethereum.

    Last week’s proposal was just a “temperature check” to see whether the Uniswap community would support the expansion to BNB Chain. Given the overwhelming support, it is safe to assume that a “real” vote will be taking place soon.

    Buy/Sell UNI
  • Crypto.com Obtains Cloud Security and Privacy ISO Certifications as First Crypto Trading Platform

    Crypto.com Obtains Cloud Security and Privacy ISO Certifications as First Crypto Trading Platform

    Crypto.com logo cover image

    Key highlights:

    • Crypto.com has been awarded two new security and privacy certifications in addition to the existing ISO 27001, ISO 27701, and ISO 22301 certifications.
    • The CEO said investments will continue to ensure the highest standards for security and privacy.
    • Two new certificates will help Crypto.com continue to process customers’ personal data securely.

    Crypto.com, the cryptocurrency platform with more than 80 million customers worldwide, is also among the industry leaders in security, regulatory compliance and privacy. Focusing on cloud security and privacy protection, the platform is certified with ISO 27017 and ISO 27018.

    Crypto.com has strengthened its “commitment to ensure the secure processing of personal data” to its customers with these two digital asset platform certifications focused on cloud service security. Jason Lau, the platform’s Chief Information Security Officer, considers these certifications a testament to Crypto.com’s industry leadership.

    What is ISO 27017?

    ISO 27017 is a cloud-specific security standard that provides guidelines for information security controls applicable to the use and provision of cloud services. Developed to comply with information security management system (ISMS) certification and reduce the risk of security issues, this standard provides a more secure cloud environment.

    What is ISO 27018?

    ISO27018 is a standard that establishes objectives for protecting personally identifiable information (PII) in government agencies and gives privacy-specific guidelines to organizations acting as privacy data processors and controllers to improve information security by assessing risks. ISO 27018, the first international standard for cloud privacy, mandates strict security controls.

    Crypto.com’s Privacy Information Management System (PIMS), Information Security Management System (ISMS), and Business Continuity Management System (BCMS) are audited at least annually by third-party certification bodies to ensure continued compliance with multiple ISO standards. Crypto.com, the first virtual asset platform to receive ISO 27001 (Information Security Management System) and ISO 27701 (Privacy Information Management System) certificates in 2019 and 2020, respectively, and ISO 22301 (Business Continuity Management) and ISO 22301 (Business Continuity Management) in 2021. It has also complied with the NIST Cybersecurity and Privacy Frameworks.

    “Security and privacy are foundational pillars of our commitment to our 80 million users around the world,” said Kris Marszalek, CEO of Crypto.com. “We will continue to invest in ensuring the highest standards for safety, security and privacy.”

    “Security and privacy continue to be a core focus for us, particularly as we scale our services globally through the use of cloud infrastructure,” said Jason Lau, Chief Information Security Officer at Crypto.com. “These most recent certifications are a testament to our industry leadership and continued commitment.”

    Crypto.com, which set out with the vision of “Cryptocurrency in Every Wallet” in 2016 and became one of the largest cryptocurrency platforms in the world after the past couple of years, leads innovations in the sector. Focusing on empowering the next generation of creators, developers and entrepreneurs to develop a fairer digital ecosystem, the platform aims to accelerate cryptocurrency adoption around the world.

    The exchange’s native Cronos (CRO) token was trading at $0.0797 at press time, up +34.8% in the past month.

    Open Crypto.com Account
  • Quadrans, the Blockchain for Industrial Use Cases

    Quadrans, the Blockchain for Industrial Use Cases

    Quadrans Crypto

    Quadrans is certainly open to individuals, but its viability doesn’t end there. There are many different partners who have contributed to the evolution of Quadrans technology. The Quadrans team also gains valuable knowledge through the expertise shared by the many companies, institutions, government agencies, and academic partners with which it collaborates. 

    The focus on use cases reflects the desire to build technology with certain applications in mind. This allows for a more streamlined development process and a final product that is better suited to solve real-world problems.

    Some of the industrial use cases that Quadrans is focusing on include:

    • Traceability and provenance: The technology can be used to track the movement of goods throughout the supply chain. This information can then be used to verify the authenticity of products and ensure that they meet certain standards.
    • Internet of Things: Quadrans’s technology can be used to manage and secure the data generated by devices in the Internet of Things. This data can be used to improve the efficiency of industrial processes and make sure that devices are functioning properly.
    • Smart cities: Quadrans’s technology can be used to manage the data generated by the various systems in a smart city. This data can be used to improve urban planning, optimize traffic flow, and provide other benefits to city residents.
    • Predictive maintenance: The data generated by industrial equipment can be used to predict when that equipment will need to be serviced. This information can be used to improve the efficiency of maintenance operations and avoid unexpected downtime.

    These are just a few of the many different ways in which Quadrans technology can be used in the industrial sector. 

    Why should any company choose Quadrans? Quadrans is 100% EVM compatible, any existing project on the Ethereum network can thus be transferred effortlessly to the Quadrans network with the benefit of reduced transaction costs. For this, Quadrans is attracting real-world use cases from industry-related projects seeking a secure, decentralized, and cost-efficient infrastructure. 

    The Quadrans team is always looking for new partners who can help to further their development efforts. They value contributions by other experts in the field and work continuously to develop partnerships that will improve sustainability, usability, and scalability.

    Quadrans is an open-source, public, decentralized platform enabled by blockchain technology with the bandage to build a digital infrastructure that combines customizable data sharing, cryptography and smart-contract automation and establish a self-governed digital economy between businesses, institutions and individuals globally. Do you want to use Quadrans? Get started!

  • China’s “Instagram” chooses Conflux Network for permissionless blockchain integration

    China’s “Instagram” chooses Conflux Network for permissionless blockchain integration

    Toronto, Canada, 24th January, 2023, Chainwire

    Little Red Book, (XiaohongShu), the Chinese version of Instagram integrates Conflux Network as permissionless blockchain allowing users to showcase NFTs minted on Conflux on their profile page in the digital collection section called ‘R-Space’.

    The platform has more than 200 million active monthly users and this integration brings NFTs a step closer to mass adoption, where people are actively using Web3 technology on a daily basis within a Web2 system.  

    Little Red Book has previous alliances with blockchains and NFTs but never a permissionless network. 

    Ming Wu, CTO of Conflux said “large internet industry players in China have initiated efforts embracing the Web3 transition. Conflux is becoming the major bridge connecting the two worlds and taking a leadership role to expand Web3 technology into traditional industry scenarios.”

    From a regulation perspective, having such a large-scale company integrate a permissionless blockchain further solidifies China’s pro-NFT position and suggests we can expect an increase in local companies considering blockchain technology integration with existing Web2 companies. 

    The first Conflux NFT supported by Little Red Book is from the Mimic Shhans community, which has a large Chinese community base, and owners of the original NFT can go through a predefined process to receive the Conflux NFT that can be shown on their Little Red Book profile page.

    To see full images please see the Dropbox link:  https://www.dropbox.com/sh/s2i440p5hf2s2aw/AAC-JfdxXApMResEpMSqCjDEa?dl=0

    About Conflux
    Conflux is a permissionless Layer 1 blockchain connecting decentralized economies across borders and protocols. Recently migrated to hybrid PoW/PoS consensus, Conflux provides a fast, secure, and scalable blockchain environment with zero congestion, low fees, and improved network security.

    As the only regulatory-compliant public blockchain in China, Conflux provides a unique advantage for projects building and expanding into Asia. In the region, Conflux has collaborated with global brands and government entities on blockchain and metaverse initiatives, including the city of Shanghai, McDonald’s China, and Oreo.

    To learn more about Conflux, visit confluxnetwork.org

    Contact

    Melissa Tirey
    Shift6 Studios
    conflux@shift6studios.com

  • Bunzz Raises $4.5M Seed Round to Expand its Smart Contract Hub for DApp Development

    Bunzz Raises $4.5M Seed Round to Expand its Smart Contract Hub for DApp Development

    Singpore, Singapore, 24th January, 2023, Chainwire

    Bunzz a web3 development platform for decentralized applications, has completed a $4.5M seed round. Investors included gjmp, DG Daiwa Ventures, Coincheck, and Ceres. Funding will be used to help build out Bunzz’s Smart Contract Hub, which is already used by more than 8,000 dApp developers. (Product page: https://bunzz.dev/ )

    Bunzz has established a strong track record since its launch 11 months ago. Over 8,000 DApp developers have been using the platform, and more than 3,000 DApp projects have been deployed on-chain, making it one of the largest DApp development infrastructures in Asia. 

    The platform has been recognized by top-tier landmarks as a major infrastructure service in the smart contract development sector. It has been featured on the web3 development infrastructure chaos map published by Coinbase. Additionally, Bunzz was also a finalist in Icetea Lab, Singapore’s largest web3 accelerator program.

    Currently, engineers who can handle DApp development are very rare. The reason is that the barrier to developing smart contracts, which are web3-specific programs, is high. In other words, if web2 software engineers could handle contract development, it would be much easier to enter the web3 space.

    Bunzz has succeeded in simplifying the previously complex development process by providing frequently used contracts as modules and wrapping the preparation of nodes and the launch of the development environment. 

    About Bunzz’s core feature “Smart Contract Hub”

    Bunzz offers a modularized version of frequently used smart contracts. These are freely available to general users and can be reused by other DApp developers.

    On the other hand, there is a similar service called Open Zeppelin, an open-source library. The difference between this and Bunzz is convenience. While OZ’s code is just a library and cannot be deployed right away as it requires a development environment and nodes, Bunzz’s modules can be deployed with just a GUI. It is truly the “web3 version of Docker Hub”.

    Partial list of smart contract modules offered by Bunzz

    NFT related modules:

    DeFi related modules:

    Kenta Akutsu, CEO & Co-Founder of Bunzz, explained: “Bunzz ultimately aims to become web3’s equivalent to Docker Hub. Immutable smart contracts on the blockchain are open programs, also called ‘public goods,’ because anyone can access and use them without permission. However, the usage flow and the logic of their operation are difficult to understand, making it inconvenient for engineers who want to reuse them. Bunzz aims to solve this problem by incentivizing creators of smart contract modules to create more accurate coding and documentation. Please feel free to contact us via twitter or discord.”

    The 13 participating investors:

    Bunzz pte ltd company profile:

    • Company name: Bunzz pte ltd
    • Representative: Kenta Akutsu
    • Head Office: 6 Eu Tong Sen Street #12-17 The Central Singapore 059817 
    • Business: Operation of web3 development infrastructure “Bunzz”
    • Establishment: May, 2022
    • Capital: 4,500,000 USD
    • URL: https://bunzz.dev

    Contact

    CEO
    Kenta Akutsu
    Bunzz pte ltd
    kenta@bunzz.dev

  • Genesis Coin Inc, Powering 35% of Global Bitcoin ATM Transactions, Acquired by Bitstop Founders

    Genesis Coin Inc, Powering 35% of Global Bitcoin ATM Transactions, Acquired by Bitstop Founders

    Miami, Florida, 24th January, 2023, Chainwire

    Genesis Coin Inc, the first and largest Bitcoin ATM software platform worldwide announced today that they have been acquired by early Bitcoin ATM pioneers Andrew Barnard and Doug Carrillo. 

    Founded in 2013, Genesis Coin’s technology powers approximately 35% of global Bitcoin ATM transactions. Barnard and Carrillo, who also founded Bitstop, built the first and largest private-label Bitcoin ATM platform based in Miami, FL with over 2,500+ Bitcoin ATMs worldwide. Genesis Coin and Bitstop represent over 75+ operators operating 12,000+ Bitcoin ATMs in the United States and international markets powering billions of dollars in annual sales volume.

    As part of the acquisition, Andrew Barnard will become Chief Executive Officer and Doug Carrillo will become Chief Strategy Officer and both will join the Board of Directors of Genesis Coin. Evan Rose, Genesis Coin’s founder, will stay on as a technical advisor and remain a member of the company’s Board of Directors. The Genesis Coin headquarters will move to Miami, Florida.

    “Genesis Coin gave birth to the Bitcoin ATM industry,” said Barnard. “It’s the first and largest Bitcoin ATM software platform in The World. Evan built a platform trusted by some of the largest Bitcoin ATM operators in our industry, both domestically and internationally, including the Chivo network in partnership with the Government of El Salvador. 

    Our industry is now rapidly changing and Genesis Coin will lead the way into the future. Accomplishing this requires a solid team of world-class visionaries and developers. At Bitstop, we built an incredible software team and platform which has partnered with some of the largest companies both private and publicly traded from the traditional ATM industry. We plan to bring our background and expertise in building the best technology and team in the Bitcoin ATM industry to Genesis Coin. We believe this is a win-win for all stakeholders,” furthered Barnard.

    “Andrew, Doug, and I have been friends for a long time and have also been friendly competitors,” commented Rose. “They have a reputation for their innovative and creative thinking. In addition, they have been successful in establishing key relationships in the Bitcoin space and their technical expertise and knowledge of Bitcoin is very impressive. In turn, this has allowed them to attract and retain top-tier talent and build great products. This transaction represents the coming together of the two leading software platforms in the industry and creates value for both companies’ stakeholders. It combines the best product, engineering, and leadership teams in the space. I’m thrilled to work alongside them and look forward to introducing very exciting new products and services we have planned for this year,” commented Rose.

    Barnard, Carrillo and Rose stressed the importance of continuing to provide stability to both platforms and continuing to service the needs of operators on both platforms. For the time being, both the Genesis Coin and Bitstop platforms will continue to run independently while exploring technical synergies. Genesis Coin has already made several key hires to its development team with a core focus on product development. 

    “This acquisition represents the most significant event in the Bitcoin ATM industry to date,” said Carrillo. “Our commitment is to provide Genesis Coin with the proper resources it needs to pave the way for continued growth and innovation. We truly believe that this new combination of the best minds in our space will be the catalyst for the Bitcoin ATM industry evolving into its next phase. We are hyper-focused on building the best software for Bitcoin ATMs in the world. Today, the most sophisticated operators in our industry rely on Genesis Coin and Bitstop technology to power their businesses. As a result, we have become ‘The Standard’ in the Bitcoin ATM space where virtually all industry organic M&A activity today is occurring on the Genesis Coin and Bitstop networks.” concluded Carrillo. 

    “Leverage dominated the entire cryptocurrency space over the last two years. Many other platforms in our industry couldn’t resist the siren song,” said Barnard. “This is a capital-intensive industry where you do not want to be in a lot of debt. Genesis Coin is financially secure with a strong balance sheet, no debt, and strong cash flow. The company does not have external investors. The result of this is that operators can build their future on the Genesis Coin platform with confidence. In a volatile industry, we are a beacon of stability. We are bullish on the potential of this industry. We see significant market growth from here over the next 10 years. We believe we are in the best position in the industry to unite the very best operators and support their growth. Our goal is to listen to our operators and deliver the very best products and features to them so they can deliver maximum value to their customers at scale,” concluded Barnard.   

    About Genesis Coin

    Genesis Coin is the first and largest white-label Bitcoin ATM network worldwide. We are the premier provider of autonomous vending solutions for bitcoin. Genesis Coin’s proprietary managed infrastructure software solution has propelled it to become the largest provider of Bitcoin ATMs and software facilitating self-service buying and selling billions of dollars in cryptocurrencies across the world annually. Genesis Coin’s software provides customers with a reliable, tailored operating platform. Genesis Coin delivers its software by selling BTMs to third-party operators who provide opportunities for businesses looking to diversify their revenue and drive foot traffic to their locations. Our machines make bitcoin simple for everyone. www.bitcoinatm.com 

    Contact

    CEO
    Andrew Barnard
    Genesis Coin Inc
    media@bitcoinatm.com

  • Nexo Ranks #2 as One of the Few Remaining Centralized Crypto Lenders Settles for $45 Million With the SEC — Top 3 Coins to Watch for Jan 23 — Jan 29

    Nexo Ranks #2 as One of the Few Remaining Centralized Crypto Lenders Settles for $45 Million With the SEC — Top 3 Coins to Watch for Jan 23 — Jan 29

    Nexo Ranks #2 as one of the few remaining centralized crypto lenders settles for $45 million with the SEC — Top 3 Coins to Watch for Jan 23 — Jan 29

    The third week of 2023 brought us the continuation of the uptrend, which carried the total market capitalization from $1.00 trillion at the beginning of the week to $1.07 trillion. Bitcoin is up by almost 10% last week, while the second largest cryptocurrency, Ethereum, has posted a weekly gain of a bit less than 7%. Top gainer from the Top 10 cryptocurrencies was OKB, which appreciated by 17% last week and thereby managed to overtake SOL (Solana) and re-enter the 10 largest cryptocurrencies by market capitalization. But you are likely asking yourself which coins are in for some interesting price movement this week? Read through and familiarize yourself with our Top 3 Coins to Watch in Week 4.

    3. FTX Token (FTT)

    FTX is a now defunct cryptocurrency derivatives exchange that offered futures, leveraged ERC-20 tokens and OTC trading but went bankrupt in November 2022. FTX Token (FTT) was the official token and the backbone of the FTX cryptocurrency derivatives exchange and its ecosystem, dropped from $26 to below $2 in a matter of a few days after the exchange’s collapse. The maximum supply of FTT was capped at 350 million tokens, but the FTX exchange used a portion of its profits to buy back and burn FTT, so the current circulating supply stands at 328.9 million tokens. While users could once utilize FTT as collateral for futures positions, for earning rebates on trading fees, or even stake tokens to earn additional rewards, the use cases of FTT have become very limited following the collapse of its issuer.

    Buy/Sell FTT

    New FTX CEO sends FTT price on the move again by hinting at a plausible exchange revival

    The FTT token price has seen a rapid decline of almost 95% after the FTX exchange turned out to be built like a house of cards and collapsed in November 2022. Furthermore, the collapse of the FTX exchange, did not only cause the price of FTT to plummet, but also caused the wipe-out of several billion USD from the total cryptocurrency market capitalization. But after trading below the $1.50 valuation for more than a month the FTT price is on the move and investors seem to be flocking in again. The reason for this revived interest is the appointment of John J. Ray as the new CEO of FTX, who in his first public interview after taking over the company revealed that he is considering resuming operation (in other words reviving the exchange and all its activities). The FTT price has increased by 60% over the past week and over 170% in the past month, outperforming almost all other top 100 cryptocurrencies over both periods. The main question remains – is it possible for the FTX exchange to resume operation?

    Slika, ki vsebuje besede besedilo, elektronika, posnetek zaslona, prikaz Opis je samodejno ustvarjen
    FTT/USD price chart for the past 30 days demonstrating FTT’s bull run that caused it to appreciate by 170%.

    2. Nexo (NEXO)

    Nexo started out as a centralized lending and borrowing platform that allows people to take out stablecoin loans as well as fiat cash loans by depositing their crypto holdings as collateral. The platform also offers high yield interest accounts, which act as the source of liquidity for the platform’s loans. Through its history Nexo kept expanding its range of services, which now also include a cryptocurrency exchange with over 300 trading pairs and a Nexo Card, which allows you to spend your crypto without selling it. Nexo Token is the native cryptocurrency of the ecosystem and the basis of the Nexo loyalty program. Users who hold a larger percentage of their portfolio in NEXO can enjoy reduced trading fees as well as higher interest rates when lending and lower interest rates when borrowing. In addition, Nexo has also committed to buy and burning $50 million worth of Nexo Tokens as part of its most recent Buyback Program.

    Buy/Sell NEXO

    Nexo settled the case with the U.S. SEC for $45 million

    After years of litigation, the cryptocurrency lender Nexo agreed to pay $45 million to settle a case with the U.S. Securities and Exchange Commission (SEC) over the unregistered offering of its crypto asset product, the company announced on Twitter:

    The SEC claimed that Nexo’s Earn Interest Product (EIP) constituted an unregistered securities offering, but since day one of the allegations Nexo has cooperated with the U.S. regulator and even voluntary stopped offering its EIP on U.S. territory. Nevertheless, the legal saga dragged out over the course of a few years and has only recently reached the end with Nexo agreeing to pay a monetary penalty of $45 million, payable over a 12-month period. Nexo’s representatives were content with the result and highlighted that the settlement was reached on a no-admit-no-deny basis. The SEC also confirmed the news in their own press release. NEXO token rallied on the news of the settlement, gaining 16% in a single day on January 20 and peaking at the price of $0.85 per token. At the time of writing, NEXO is changing hands at a price of a bit less than $0.84 and is up by 12% in last 7 days. In addition, Nexo is one of the few remaining centralized cryptocurrency lenders in the market, as its competitors Celsius, BlockFi, Vauld, Voyager, and several others either went bankrupt or massively restructured their businesses during the bear market of 2022.

    3. Kava (KAVA)

    Kava is a high throughput Layer 1 blockchain developed by Kava Labs. It is designed to use an innovative blockchain architecture of two co-chains working side by side to create a unified scalable network and facilitate a myriad of decentralized finance (DeFi) use cases. Kava’s own Tendermint consensus engine combines Ethereum’s smart contract capabilities with Cosmos’ interoperability to facilitate transactions for thousands of supported decentralized applications. To achieve cross-chain communication and asset transfers, the Kava ecosystem utilizes IBC Protocol and ChainLink’s decentralized blockchain oracle network. Kava Labs have also established close partnerships with industry leaders such as Binance, Kraken and Ripple. The platform’s native token KAVA is used to transfer value on the network and plays a key role in the governance of the blockchain.

    Buy/Sell KAVA

    Coinbase listed KAVA just a few days before the scheduled launch of Kava 12

    Kava earned the top spot on our this week’s list due to the upcoming launch of Kava 12. According to Kava developers, the update that is scheduled to roll-out on January 25 will be a total game-changer.

    By implementing a new module called x/kavamint, the platform will give Cosmos chain DAOs far more control and flexibility over their emissions. In addition, Kava 12 will also improve the transparency of Kava DAO communities, giving all participants a clear insight into community portfolio and flow of funds. Kava 12 will also implement the ability to set burning mechanisms based tied to various on-chain parameters and a few other innovative features. The full list of features included in the new module can be found here. In addition, KAVA recently got listed on Coinbase. KAVA trading on the largest U.S.-based cryptocurrency exchange commenced on January 19, but KAVA pumped by more than 15% already the day before, when the listing was announced on Kava’s official Twitter. Kava representatives also highlighted that the listing will not only benefit KAVA but the whole Cosmos ecosystem. According to Kava developers, all Cosmos Inter Blockchain Communication (IBC) Protocol compatible projects will now enjoy a far shorter time to listing on Coinbase, which could be reduced from current 18 months to as short as 1 month. KAVA is currently trading at $1.05 and is up by 24% in the last 7 days and 83% YTD. Will this positive trend continue and push KAVA price even higher?