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  • Coinbase Misses Earnings Estimates, COIN Drops To All-Time Low

    Coinbase Misses Earnings Estimates, COIN Drops To All-Time Low

    Key takeaways:

    • Coinbase released its business results for the first quarter of 2022
    • Trading volume, user activity, and revenue were all down in the first quarter of this year compared to the last quarter of 2022
    • The price of Coinbase stock hit an all-time low of $52.80 on the news

    Coinbase misses revenue estimates by $310 million

    On Tuesday, Coinbase crypto exchange published its Q1 2022 business results. The US-based publicly traded exchange reported a significant drop in both user activity and trading volume.

    According to the quarterly earnings call report, the number of retail monthly transaction users (MTUs) dropped from 11.4 million in Q4 2021 to 9.2 million. At the same time, the total trading volume facilitated by Coinbase slid from $547 billion in Q4 to $309 billion in Q1. 

    In contrast to the estimated revenue of $1.48 billion, Coinbase’s real revenue reached only $1.17 billion, for a total discrepancy of $310 million. The negative business metrics led to a net loss of $430 million during the first quarter of 2022.

    The latest quarterly results come as a stark contrast to Coinbase’s previous earnings call in which the exchange reported record-breaking revenue of $2.49 billion. It is worth noting that the US-based trading platform did point out at the time that it expects the growth to stall in Q1 2022.

    As a result of poor business results, the price of Coinbase stock plummeted by 15% on Tuesday and hit an all-time low of $52.80 per share. Due to broader negative market sentiment and retracement in the value of virtually all digital assets this year, the Coinbase stock is now changing hands down over 75% year to date.

  • KuCoin Crypto Exchange Reaches $10B Valuation After $150M Funding Round

    KuCoin Crypto Exchange Reaches $10B Valuation After $150M Funding Round

    Key takeaways:

    • Popular digital asset trading platform KuCoin raises $150 million during pre-Series B funding round
    • The round saw the exchange’s valuation grow to $10 billion
    • KuCoin intends to use the newly acquired capital to play a more prominent role in the development of Web3 products and services

    KuCoin raises $150 million to “expand its presence in Web 3.0”

    The KuCoin cryptocurrency exchange has announced it raised $150 million at a $10 billion valuation during the recently concluded pre-Series B financing round. The funding round saw participation from a number of prominent venture investment firms, including Circle Ventures, IDG Capital, and Matrix Partners.

    According to a blog post published on Tuesday, KuCoin intends to use the newly acquired funds to “expand its presence in Web 3.0,” which involves crypto wallets, blockchain gaming, decentralized finance (DeFi), and non-fungible token (NFT) features. In addition, the exchange aims to enhance the KCC ecosystem and boost the development of new products and services running on the KCC public chain.

    The CEO of the Singapore-based exchange, Johnny Lyu, commented on the massive fundraising: 

    “The vote of confidence from prominent investors, including Jump Crypto and Circle Ventures, solidifies our vision that one day everyone will be with crypto. KuCoin is built for all classes of investors, and we believe these new investors and partners will contribute to making KuCoin synonymous with a reliable and trustworthy gateway into crypto space.”

    The pre-Series B funding round comes almost four years after the exchange secured $20 million in funding during the Series A round.

    In related news, KuCoin’s global competitor FTX hit a $32 billion valuation on the heels of its January Series C funding round. 

    Create KuCoin Account
  • Meet Michael Arrington and Dr. Chandra Duggirala at the World Crypto Economic Forum

    Meet Michael Arrington and Dr. Chandra Duggirala at the World Crypto Economic Forum

    The World Crypto Economic Forum (WCEF) is scheduled for June 2&3rd, 2022 in San Francisco and will gather over a hundred of speakers and 2.000 attendees, entrepreneurs, crypto enthusiasts, and industry leaders for a discussion of the latest trends both in the business (Web3, DeFi, DAO, NFT, Meta, IDO, etc.) and technological worlds (everything blockchain).

    It was just announced that Michael Arrington – Founder of TechCrunch, Crunchbase, and XRP Capital, named as one of Time Magazine’s 100 most influential people – will perform at the event. Another keynote speaker is Dr. Chandra Duggirala, Co-Founder and CEO of Portal, decentralized financial platform that blends the best of Bitcoin and Layer 2. Starting out as a doctor, Chandra found his calling through entrepreneurship. He is passionate about reducing real barriers to entrepreneurship and decentralizing finance and opportunity.

    A number of notable entrepreneurs and blockchain professionals are also expected to attend, such as Vinny Lingham (Waitroom/Civic Technologies), Jonathan Nelson (HF.Capital), Nathalie Kara (Propy), Lori Corpuz (@ NFT OASIS), Miko Matsumura (Gumi Cryptos Capital), Greg Osuri (Akash Network), William Bear (Nearverse) and others. The participants will cover various aspects of the digital economy – from blockchain technology to new economic models based on tokens.

    The WCEF will also include lightning talks, networking sessions with top executives, a token pitch, and a hackathon.

    Get 20% off using the code Coincheckup20 here now: https://www.eventbrite.com/e/wcef-2022-world-crypto-economic-forum-tickets-303259225507  

  • Media Embedded Product Blockchain Incube Chain Unveils Early Stage ICB Buy Opportunity on ProBit Global

    Media Embedded Product Blockchain Incube Chain Unveils Early Stage ICB Buy Opportunity on ProBit Global

    Following its latest partnership with ProBit Global, Incube Chain has launched its first IEO to further its mission of mining and extracting embedded product data from various media content to distribute trillions of data to primary search engines.

    Incube Chain intersects between the OTT sector and product placement, with the former projected to climb to a $257.37B market value by 2025.

    With a primary value proposition of mining and extracting metadata from products to optimize organic searches, particularly for popular media, the project strives to provide more effective advertising routes to reach intended audiences.

    Demand for products in media ranging from merchandise popularized by TV shows, for example, has been on the rise due to the OTT sector. To meet this surge in interest, Incube Chain is positioned to optimize the search process for the end-user by assisting search engines to deliver highly relevant data to answer user queries.

    The ICB token primarily provides more efficient advertising streams for brands seeking to connect to their target audience without being priced out by competitors with deeper pockets.

    ICB incentives include rewards for participants and data providers while providing a cost-efficient and convenient payment for interested parties to register their ads.

    ABOUT INCUBE CHAIN

    The Incube platform connects the needs of brand advertisers and viewers. Brand companies can maximize the advertising effect of sponsored products, and viewers can watch media and get product information for free at the same time.

    The Incube Chain Ecosystem improves the integrity and irreversibility of information through three major layers: Incube Partners, Blockchain & Data, and APIs services layers to connect participants, viewers, and advertisers with a streamlined platform.

    ABOUT PROBIT GLOBAL

    ProBit Global is a Top 20 crypto exchange worldwide servicing crypto enthusiasts with unlimited access to trade and buy Bitcoin, Ethereum and 800+ altcoins in 1000+ markets.

    PROBIT GLOBAL IS A BRAND TRUSTED BY MILLIONS OF USERS

    200,000+ community members
    1,000,000+ monthly active users
    3,000,000 monthly web visitors
    50,000,000 users on partnering aggregators and wallets
    User interface of Multilingual website supporting 46 different languages
    Marketing and community support in 11 key languages

    Join our active programs and get huge benefits!

    1. Trading Fee Discount: Buy PROB, pay trading fees with PROB & get as low as 0.03% trading fee

    2. Referral Program: Earn 10-30% of trading fees for referring friends to ProBit

    3. ProBit Exclusive: Subscribe to 50% off Top 200 tokens

    4. Auto Hold Campaigns: Hold tokens and get 6% annualized returns

    ProBit Global: www.probit.com ProBit Telegram: https://t.me/ProbitEnglish

  • NTH’s User Data Reward Token Lists on ProBit Global

    NTH’s User Data Reward Token Lists on ProBit Global

    The token of the NTH platform which seeks to break data monopolization and reward users for their data usage has been listed on ProBit Global.

    The NTH token is used to compensate for user privacy. Users get rewarded with NTH for voluntarily providing their geolocational information and uploading as much quality content of interest on the NTH platform which combines donation, advertisement, and commerce activities based on data accumulated from users.

    The NTH platform taps into the power of social media platforms like Facebook which generate profits by attracting content creators frustrated by an inability to generate a fair share in line with their efforts. These content producers also often get exposed to unsolicited advertisements whose profits have been mostly monopolized by Facebook and Google.

    The NTH platform aims to address the reckless use of users’ privacy to generate profits without returning compensation to the users. It wants to deal with issues like data imbalance or distortion as it contributes to improving a data transaction and donation ecosystem.

    As data gathered from users is shared on the platform, rewards in NTH tokens are issued proportionately to a user’s data usage according to other users’ evaluations, its use for customized advertisements, or any other activity connected to the ecosystem.

    The NTH token is also to be used as a currency for donations, investments, ads, and e-commerce transactions. It will play a key role in empowering the NTH service platform to achieve its overall goal to build a fair data reward system that decentralizes secondary copyrights and improves trust for universal human values.

    ABOUT NTH

    The NTH token is the medium of exchange for associated services on the NTH blockchain-based data transaction platform to create an organically-linked system. It connects the NTH ecosystem as it aims to realize decentralized data capitalism for all people who produce and consume data for donations, advertisements, and related transactions to benefit.

    ABOUT PROBIT GLOBAL

    ProBit Global is a Top 20 crypto exchange worldwide servicing crypto enthusiasts with unlimited access to trade and buy Bitcoin, Ethereum, and 800+ altcoins in 1000+ markets.

    PROBIT GLOBAL IS A BRAND TRUSTED BY MILLIONS OF USERS

    • 200,000+ community members
    • 1,000,000+ monthly active users
    • 3,000,000 monthly web visitors
    • 50,000,000 users on partnering aggregators and wallets
    • The user interface of the multilingual website supports 46 different languages
    • Marketing and community support in 11 key languages

    Join our active programs and get huge benefits!

    1. Trading Fee Discount: Buy PROB, pay trading fees with PROB & get as low as a 0.03% trading fee

    2. Referral Program: Earn 10-30% of trading fees for referring friends to ProBit

    3. ProBit Exclusive: Subscribe to 50% off the Top 200 tokens

    4. Auto Hold Campaigns: Hold tokens and get 6% annualized returns

    ProBit Global: www.probit.com

    ProBit Telegram: https://t.me/ProbitEnglish

  • TCG World Partners with Shark Tank Backed Jigsaw Puzzle International Convention (JPiC) to Co-Host The Metaverse Expo 2022, Las Vegas

    TCG World Partners with Shark Tank Backed Jigsaw Puzzle International Convention (JPiC) to Co-Host The Metaverse Expo 2022, Las Vegas

    The Metaverse Expo 2022 is a 3 day event held at the Las Vegas Convention Center on 8th – 10th July 2022 that will bring together entrepreneurs, industry experts and crypto enthusiasts in the Metaverse, Gaming and NFT Space.

    Showcasing a wide range of exhibitors, The Metaverse Expo 2022 features a host of key speakers & panelists including motivational speaker Agon Hare, from Project Nightfall Organization and Academia Professor & TEDx speaker Justin Goldston, PHD.

    The Metaverse Expo will cover topics within Metaverse, NFTs and blockchain. These include:

    • Introduction to Blockchain • Introduction to Cryptocurrencies and Digital Assets • Artificial Intelligence • Introduction to the Metaverse • Metaverse Architecture • Digital Fashion and Technology • Business and Web3 Economics • Metaverse Entrepreneurship • Decentralized Finance • eSports and Blockchain Gaming • Understanding the power of the Metaverse • Reinventing Education in the Metaverse • Metaverse applications powered by blockchain

    The event is taking place over three days in the renowned Las Vegas Convention Center and also includes on stage panel discussions, live performances, virtual land and NFT giveaways as well as the opportunity to network with a range of high value industry professionals.

    Exhibitors can choose from three different sized booth packages, Diamond (30’x30’), Platinum (20’x20’) and Gold (10×10) which also includes 20 free tickets for the team and a speaking slot at the event. You can register for a booth at The Metaverse Expo 2022 through their website.

    TCG World, is one of the largest open world metaverse projects currently in development on Binance Smart Chain and has recently started to roll out Alpha access to some of their users. Everything inside TCG World is owned as an NFT – virtual land, cars, pets and even player avatars.

    Co-hosts JPiC is a company dedicated to the organization of the first ever Jigsaw Puzzle International Convention and will run alongside The Metaverse Expo 22 as well as offering free entry to individuals who purchase a Metaverse Expo 22 ticket. JPiC recently appeared on Shark Tank, Malta and secured a record breaking investment of €200,000 from Alexander Fenech, a Shark Tank investor, for a 15% stake in their Jigsaw Puzzle Convention business.

    The 3 day event will bring over 6000 visitors from around the world.Tickets for The Metaverse Expo 22 and Jigsaw Puzzle International Convention can be found on their official website.

  • Lina Valentina’s “No More” NFT Collection Denounces Domestic Violence

    Lina Valentina’s “No More” NFT Collection Denounces Domestic Violence

    Los Angeles, United States, 11th May, 2022, Chainwire

    Renowned and respected feminist artist Lina Valentina is preparing to launch her first NFT series. Under the “No More” banner, the collection will solidify women’s position within the Web3 environment and denounce domestic violence. 

    The name Lina Valentina is synonymous with the artistic scene across New York and Los Angeles. Lina has created various impactful art on walls from New York to Brooklyn. Furthermore, her works can be found in the most prominent contemporary art galleries in Los Angeles and on the covers of INKspired and GoodweekendMag, and more. Additionally, Lina’s collaboration with Adidas in 2018 is still fresh in people’s minds.

    Lina Valentina uses painting and other art forms to encourage women to speak out against domestic violence, a pressing matter even today. She borrows elements from Salvator Dali and her favourite music, creating some interesting artwork capable of kickstarting a meaningful conversation. 

    The NFT collection, dubbed “No More”, follows the same path as Valentina’s paintings and other artwork. It is a tribute to women who suffer[ed] from domestic violence and decided to denounce it. Additionally, the collection will offer courage and hope to women who face this abuse but remain silent about it.” No More” will feature 7,777 unique NFTs representing a female face. 

    Lina Valentina comments on her upcoming collection:

    “NFTs and art seem obvious, a new way for artists to express themselves and be heard. Many artists around me position themselves in the NFT sector. Unfortunately there are still too few female artists in the field, only 5%. The “No More” series also aims to encourage women to invest in this booming sector.”

    The collection will serve several utilities as the project unfolds, including:

    • Creating a digital gallery in the metaverse to promote works by Lina Valentina and other artists promoting beneficial causes.
    • 300 “No More” owners will receive a digital frame valued at $800, bringing the digital artworks to the real world. 
    • A special exhibition for fans to meet Lina Valentina at The Cool HeArt Gallery in Los Angeles. NFT Holders receive preferential prices on physical works being exhibited. 
    • Donate 10% of the income generated by the “No More” drop to the Safe Horizon association, helping victims of domestic violence and sexual assault.

    The upcoming “No More” NFT collection by Lina Valentina combines strong utility with a clear message and has the backing of a renowned artist. It may become the next major iconic collection sparking important conversations regarding a topic that is often avoided. Additionally, Valentina plans collaborations with famous personalities, with more information to be revealed in the coming months. 

    Keep tabs on the latest information on the series by following the social accounts of “No More” as well as those of Lina Valentina and The Cool HeArt.

    Contacts
    • Lina Valentina
    • Lina@no.more.io
  • Instagram ‘Starting to Test’ NFT Profile Images, According to CEO Mark Zuckerberg

    Instagram ‘Starting to Test’ NFT Profile Images, According to CEO Mark Zuckerberg

    Key takeaways:

    • Leading photo-sharing platform Instagram is gearing up for the launch of NFT features
    • Meta CEO Mark Zuckerberg first announced NFTs are coming to Instagram in March
    • The CEO revealed in an interview with Impact Theory’s Tom Bilyeu that NFTs are soon coming to Facebook as well

    Instagram set to trial NFT features 

    Speaking to the co-founder and host of Impact Theory, Tom Bilyeu, Meta CEO Mark Zuckerberg unveiled the social media giant will trial NFT functionality on Instagram this week. The news comes roughly two months after the tech billionaire first announced that NFTs are coming to Instagram at this year’s SXSW conference in March.

    At the time, Zuckerberg hinted that native Instagram NFT minting might be in the pipeline. It is worth noting that the CEO was relatively restrained when discussing the minting functionality, saying only that the feature is “hopefully” coming “over time.”

    According to Zuckerberg, during the trial phase, “creators and collectors” will be able to “display their NFTs on their profile.” He added that “similar functionality” will make its way to Facebook in the near term. Moreover, users can expect augmented reality NFTs to launch on Instagram Stories.

    The social media giant, which renamed to Meta last year to showcase its commitment to the metaverse and Web3 space in general, is just one of the major social media companies looking to expand their selection of products and services with blockchain solutions. Earlier this year, Youtube CEO Susan Wojnicki stated the streaming platform is looking to incorporate NFTs as a new monetization mechanic. Reddit and Twitter have also announced deeper integration with crypto and NFTs in recent months.

    The NFT market experienced meteoric growth in 2021 – according to a study done by market research firm L’Atelier, the NFT market reached $17.6 billion in trading volume in 2021, up from $82 million in the year prior. This year started on a similarly bullish note, with the world’s largest NFT marketplace OpenSea having its best month to date in January, reaching a record number of NFTs sold, transaction volume, and generated fee.

  • Primex Launches Alpha Version of Decentralized Prime Brokerage Protocol on Testnet

    Primex Launches Alpha Version of Decentralized Prime Brokerage Protocol on Testnet

    Tallinn, Estonia, 10th May, 2022,

    Primex Finance, a DeFi platform connecting passive allocators with traders, is launching its first Alpha version on the upcoming testnet. The Alpha offers the vast majority of the features intended for mainnet, marking the last testing stage before full release.

    Primex offers utility to two classes of users: the Lenders and the Traders. Lenders take their assets and supply them into buckets with different assets and trading rules. The rules limit how Traders can use the funds they borrow from these buckets, indicating which pairs they can use and what is their max leverage. 

    The primary benefit for traders using Primex is that they can access leverage trading and other trading tools on-chain, without using derivatives and in a completely decentralized way. Lenders in their turn have an opportunity to generate significantly higher interest compared to regular lending platforms, as it’s backed by trading profits and fees. Because trades are conducted through Primex smart contracts and not their trader personal wallets, the traders do not need to collateralize their margin debt, only lock their initial trading deposit on a Primex smart-contract. This is similar to margin trading on centralized exchanges, where the platforms know that the trading positions will remain liable to liquidation.

    Buckets and Traders in Primex are evaluated by community-nominated notaries, special community members who have the expertise to assess the activity on the platform. High on-chain reputation and history of success makes it more likely that traders will be allowed into riskier buckets. For lenders, higher leverage equals higher yield than on regular DeFi lending platforms, with little added risk.

    The Primex Alpha release includes all the core functionality of the platform, with three initial buckets available for Lenders. These use test ERC-20 tokens that can be minted from the Primex faucet. Lenders can provide funds, see their balances and history of actions. Traders will be able to borrow these tokens and conduct complex trading operations with stop loss and limit orders. While this first stage doesn’t involve real money, attracting testers to use the system and find out potential bugs is critical for the platform’s success.

    “It’s been a few months after we started the development process and finally, we’re launching the Primex Alpha, the first major step toward mainnet launch,” said Vlad Kostanda, co-founder of Primex Finance. “The Alpha includes all the key features for mainnet, offering both Lenders and Traders a fun playground to check out the platform and test its functionality.”

    Primex will also be running its anticipated referral program where all the referred liquidity/trading volume will later be rewarded. The connections between ERC-20 addresses will be stored on-chain in a smart contract.

    ###

    About Primex
    Primex is the cross-chain prime brokerage liquidity protocol for cross-DEX margin trading with trader scoring mechanisms. In Primex, lenders provide liquidity to pools where traders can use it for leveraged trading in cross-DEX environments. Lenders will have the flexibility to manage their risks and return by providing liquidity to a variety of risk buckets, subsets of liquidity pools that regulate trader risk strategies.

    Contacts

    Co-founder

    • Dmitry
    • info@primex.finance