Category: Cryptocurrency

Cryptocurrency is digital money that works online. It lets people send and receive payments directly without banks. It runs on secure networks called blockchains, making it fast and global.

Standard Chartered and Ant International Settle SGD Transaction on Blockchain

Summary

Standard Chartered and Ant International successfully completed SGD liquidity transfers via Ant’s Whale platform, enhancing cross-border transaction efficiency and transparency. The companies aim to expand their blockchain partnership in Singapore.

Blockchain-Based SGD Settlement Completed

British banking giant Standard Chartered and Ant International, a division of Ant Group, have completed an SGD-denominated liquidity transfer using Ant’s blockchain-powered Whale platform. The transaction aims to improve the transparency and efficiency of fund transfers between bank accounts, according to a Nov. 5 report by The Asian Banker.

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Enhanced Liquidity Management

The integration of Standard Chartered with Ant’s Whale platform optimizes intra-group liquidity management for cross-border transactions. Mahesh Kini, global head of cash management at Standard Chartered, highlighted blockchain’s transformative impact, stating, “The technology is revolutionizing treasury management, and we are pleased to be early adopters of its use cases to enable our clients to take advantage of its extensive benefits.” Kini emphasized the goal of providing real-time, transparent liquidity flows.

Expanding Collaboration to Singapore

Following successful tests in Hong Kong, Kelvin Li, head of platform tech at Ant International, revealed plans to extend blockchain-based settlements to Singapore. “We hope to build on the momentum of our previous collaboration and continue developing new solutions to make global liquidity management even more seamless and secure,” said Li.

Participation in Ensemble Sandbox Project

Both Standard Chartered and Ant International are active in the Hong Kong Monetary Authority’s Ensemble Sandbox, where they explore various tokenization use cases. Standard Chartered’s Hong Kong branch has been involved in Project Ensemble since May, working to establish industry standards for tokenized transactions with Ant International’s Whale platform supporting two use cases.

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Hamster Kombat Faces Major Decline, Users Drop 86% Amid Controversy and Criticism

Summary

Hamster Kombat, once, one of the most popular Telegram tap to earn game, just took a massive hit. According to recent reports, number of active users dropped like crazy, from 300 million to just mere 41million. Yep, that’s 86% plunge in just few months.

A report made by Protos highlighted on how Hamster Kombat’s user count has fallen down significantly over the recent months. Hamster Kombat is basically a tap to earn platform available on Telegram. Players control a virtual hamster and battle against another player controlling their virtual hamster, its kinda like a Pokemon game but here players can earn actual money. Its basic play style goes, “you tap, level up and collect rewards”. This easy setup made it quickly appealed by lots of users and its player count was super high at one point but as of recent it is seeing major decline in active players. Its active player count once hit an all time high of 300 million, but now its just 41 million which indicates a major decline. In August, active players totaled 87 million, briefly rising to 94 million in September before falling to 55 million in October, with finally it declined to 41 million by November.

Russian expert Viktor Pershikov earlier warned about players about the games sustainability and noted that many users had unrealistic expectations of rewards. This might be one of the main reasons why its slacking off. Further fueling negative sentiment, Russian official Anatoly Aksakov criticized Hamster Kombat, labeling it “manipulative” and potentially misleading to players.

This had everyone freaked out, which led to Hamster Kombat responding with a disclaimer making it clear they’re not vibing with Gotbit, a firm the SEC called out for sketchy market manipulation moves. Despite this it looks like nothing can save the downfall of Hamster Kombat.

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Internet Computer Reports 1,230% Surge in Cross-Chain Activity with Chain Fusion Protocol

To put it briefly

The DFINITY Foundation’s 2024 Ecosystem Report highlights the growing importance of blockchain in interoperability, citing a 1,230% increase in cross-chain activity on the Internet Computer’s Chain Fusion protocol. Despite difficulties in the Web3 labor market, the study also reveals a rise in developer excitement.

Major Growth in Cross-Chain Interoperability

The Swiss-based DFINITY Foundation has reported significant growth in cross-chain activity on its Internet Computer (ICP) blockchain platform. ICP’s Chain Fusion protocol, which allows smart contracts to directly connect with other blockchain networks like Bitcoin and Ethereum, saw a 1,230% increase in activity over the past year, according to a press release. The report also shows an increase in developer excitement despite challenges in the Web3 labor market.

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The Chain Fusion Protocol’s Impact on Developer Activity

ICP’s Chain Fusion handled 2,040% more messages in the past year, in addition to the 1,230% increase in activity, suggesting a spike in developer interest and adoption. As seen by the report’s 150% rise in overall network activity and 30% growth in full-time developers on the platform, ICP is positioned as a strong development environment during a slowdown in employment in the Web3 industry.

Direct Bitcoin Integration Increases the Allure of ICP

One of ICP’s most notable characteristics is its direct interaction with Bitcoin, which enables developers to incorporate the security of Bitcoin into decentralized applications without the need for risky “bridges.” Projects like Rainbow Protocol and Tap Protocol have been able to leverage ICP’s smart contract functionality to safely and effectively expand the use cases of Bitcoin by bringing sophisticated financial applications to the network.

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Bitcoin Surges as Election Day Voting Boosts Market Hype

Summary

Crypto prices absolutely spiked Tuesday night, with Bitcoin smashing a new all time high. It managed to get as close as staggering $75K as U.S. election votes rolled in. Analysts believe no matter who sits on the White House, BTC is not backing down. Even so, we might see some short term bumps along the way.

Cryptocurrency prices looking good right now as its market cap spiked this late Tuesday, coincidently U.S. president elections also started the very same day. The top crypto platform Bitcoin even managed to hit its all time high of nearly $75,000 and analysts are strongly claiming bitcoin will continue to surge no matter who wins the sits on the White House but we might expect some minor bumps here and there.

There has always been a lot of uncertainty in the global markets during US election and its no different this time. People have started to become concerned about whether these volatility are short term or not. A renowned financial firm, Bernstein predicts Bitcoin could hit $200,000 in 2025 and that too regardless of the outcome of Tuesday’s election.

Justin Kruger and LMAX expect a stellar performance from Bitcoin during Q4, setting the stage for a record high by reaching as high as $100K by late December. This will result in a solid start of next year for this top crypto token.

There is history of Bitcoin popping up during the time of election. At 2012, Bitcoin’s price skyrocketed about 12000% between Nov. 5, 2012 and November 2013. Following next election in 2016, it got about 3,600% surge by December 2017. At 2020, even midst of covid, Bitcoin railed 478% in 12 months following the election. Considering these trends experts predict this time it could reach almost $103K by the end of Q4.

Read more about Bitcoin: exSat Network Launches Bitcoin Staking Services for BTC Holders

exSat Network Launches Bitcoin Staking Services for BTC Holders

In brief

With the debut of staking services, Singapore-based exSat Network enables Bitcoin holders to generate yield using the native XSAT currency of the network. The service intends to improve Bitcoin’s popularity and scalability after exSat launches its mainnet.

exSat Network Launches Staking for Bitcoin Holders

Bitcoin scaling solution exSat Network, based in Singapore, introduced its staking services on Nov. 5, shortly after launching its mainnet. The new service, accessible through the exSat bridge, offers Bitcoin holders the chance to stake BTC in exchange for XSAT tokens, exSat’s native cryptocurrency.

Staking Potential and XSAT Tokens

XSAT tokens are awarded to users who stake Bitcoin via the exSat bridge; exchange listings are possible. XSAT seeks to offer yield and liquidity to its holders, creating new financial opportunities inside the exSat ecosystem, even if there is no established schedule for market listings.

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Safe Cooperation and Audits

The exSat bridge was created in collaboration with industry partners Ceffu, ChainUp, Cobo, and Cactus. To guarantee platform dependability, Blocksec conducted security checks on the bridge. ExSat is backed by 41 validators and has secured more over $488 million in total value locked (TVL) to far.

Looking for Solutions to Bitcoin’s Scalability Issues

Introduced in late October, exSat is a hybrid consensus mechanism that uses a combination of proof-of-work and proof-of-stake algorithms to address the scalability issue with Bitcoin. This architecture enhances security and promotes broader adoption by overcoming Bitcoin’s historical limitations on scalability and usefulness.

OKX exchange joined the exSat Network in September as a validator, demonstrating institutional support for exSat’s scalability objectives. Validators are required to stake at least 100 BTC and hold XSAT tokens to gain revenue rights, underscoring the network’s commitment to a secure and sustainable ecosystem.

AI-Powered Phishing Scams Take Aim at Crypto Users

Summary

Kaspersky’s AI Research Center says that cybercriminals are using Large Language Models (LLMs) to pump out tons of phishing and scam content. Their goal is simply to produce fake websites, especially to steal from crypto investors and wallet users. But there’s a trick that helps us differ these sites from actual legit ones.

Experts from Kaspersky’s AI Research Center claims to have discovered an increase in the use of Large Language Models used by cybercriminals, in order to scam people using large-scale scam and phishing attacks. They say these websites are created in bulks and every single one of them is specifically designed to lure the investors into their scam. But there’s a kick: every such website contains a distinguishable artifacts such as AI-specific phrases which makes them a bit easier to avoid. Reportedly, most of these phishing websites target users of cryptocurrency exchanges and wallets.

A big giveaway of such AI created sites is using phrases such as “As an AI language model…” and refusal to do certain tasks like, acting like a search engine or logging into sites, which are showing up on fake crypto sites targeting KuCoin, Gemini, and Exodus users. Another major giveaway is using phrases like “While I can’t do exactly what you want, I can try something similar,” this feels really obvious machine-made style of talk. According to Vladislav Tushkanov, threat actors can now pump out lots of these scam pages quickly with AI, filling entire sites, text, and even hidden tags with these tells.

But lately, cybercriminals have started to throw in non-standard symbols to dodge detection. Tushkanov further said that these AI powered scams are evolving rapidly, there are even records of AI writing malware scripts on their own, one way to defend is to catch AI made mistakes but even so, advanced security tools are must use. To stay safe, always double check links, type site addresses manually and only use modern security software.

Semler Scientific Eyes Further Bitcoin Purchases after Q3 Acquisition of 47 BTC

Summary

Medical device maker Semler Scientific plans to increase its Bitcoin holdings, with crypto reserves now exceeding 1,050 BTC. The company remains focused on further acquisitions despite a dip in quarterly revenue.

X post regarding Semlar’s Bitcoin addition

Semler Boosts Bitcoin Reserves, Eyes Further Purchases

Healthcare manufacturer Semler Scientific now holds over 1,050 BTC, valued at $71 million, after acquiring 47 BTC in Q3. CEO Doug Murphy-Chutorian emphasized the company’s dedication to growing its Bitcoin reserves, stating that Semler remains “laser focused on acquiring and holding Bitcoin” to support both innovation and growth in its healthcare sector.

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Plans for Further Acquisition

The dedication to Bitcoin was reiterated by Eric Semler, chairman of Semler Scientific, who clarified that future acquisitions will be financed by operating cash and earnings from their ATM program. He continued, indicating the company’s intention to fortify its position in the cryptocurrency market by saying, “We are looking into other financing options that will allow us to purchase even more Bitcoin.”

Financial Setback and Market Performance

Despite Semler’s obvious crypto-focused strategy, the company faced financial difficulties in Q3, as operating income fell by 20% and revenue fell 17% year over year to $13.5 million. Nasdaq shares fell 2.3% after the report, but they were still up 18% over the previous month.

Bitcoin as a “Store of Value”

Semler entered the Bitcoin market in May with a 581 BTC purchase, viewing Bitcoin as a “reliable store of value” and a preferable alternative to gold due to its digital resilience and scarcity amid global uncertainty.

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Bybit is fined $2.4 million by the Dutch Central Bank for a regulatory violation.

In brief

De Nederlandsche Bank (DNB) fined cryptocurrency exchange Bybit $2.4 million for operating in the Netherlands without requiring registration. The fine is an example of how anti-money laundering regulations are strictly enforced in order to prevent illegal financial activities in the bitcoin industry.

X (formerly Twitter) post about Dutch Central Bank

Bybit’s breach of Dutch legislation resulted in their punishment

De Nederlandsche Bank (DNB), the central bank of the Netherlands, fined Bybit €2.2 million ($2.4 million) for providing bitcoin services in the country without the necessary registration. The Anti-Money Laundering and Anti-Terrorist Financing Act requires cryptocurrency providers to register with the DNB in order to prevent illicit financial activity, and Bybit was fined on October 22 for breaking this law.

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In order to prevent illicit money transfers, registration is required

Bybit’s noncompliance, according to DNB, made it more difficult for the business to record odd transactions, which is a crucial legal requirement in the Netherlands. Given that “Bybit was unable to report unusual transactions to the Financial Intelligence Unit-Netherlands during the period of non-compliance,” DNB emphasized the dangers associated with the absence of regulatory control in the cryptocurrency sector.

Consideration of Severity and Mitigation Measures in Fine

The fine amount, according to the central bank, is indicative of the “severity, extent, and duration of Bybit’s non-compliance.” However, DNB pointed out that Bybit’s efforts to resolve the matter resulted in a minor reduction in the punishment, since the company moved its Dutch clients to SATOS B.V., a local partner that possesses the required registration to serve Dutch clients.

Bybit’s Response and Committed Adherence

In reaction to the penalties, Bybit reaffirmed its commitment to regulatory compliance and acknowledged DNB’s ruling. The firm stated in a news release that “remediation efforts were initiated in 2022 to minimize potential financial damage.” Bybit CEO Ben Zhou emphasized the company’s dedication to “responsible growth” within the EU regulatory framework, saying, “We remain committed to working closely with European regulators to build a responsible and transparent ecosystem.”

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Trump’s Lead Over Harris Narrows on Polymarket as Bitcoin Dips to $68,000

Summary

As Election Day draws closer, the contest between Donald Trump and Kamala Harris is getting closer, according to polymarket statistics. Harris’s odds have increased while Trump’s have decreased, indicating a change in the mood of the market. The reduction happens at the same time that Bitcoin falls to $68,000 due to market volatility.

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Trump Loses His Polymarket Lead

Donald Trump’s probabilities have decreased from 66.9% to 54%, according to Polymarket, a blockchain-based prediction tool, while Kamala Harris’s odds have increased from 33.5% to 46.1%. This indicates a rising mistrust of Trump’s hegemony as the November 5 election approaches.

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Harris Gains Momentum in Iowa Poll

The latest Des Moines Register/Mediacom poll reveals Harris leading Trump by three percentage points in Iowa, a significant swing from prior polls. According to pollster Ann Selzer, Harris now holds 47% of the likely voter support versus Trump’s 44%.

The Epstein Tapes Reappear

Recorded interviews with Jeffrey Epstein about his acquaintance with Trump are a new aspect in the election. As both campaigns step up their outreach, the rediscovered tapes might affect voters’ opinions.

The Crypto Positions of Candidates Vary

Trump has demonstrated his support for cryptocurrencies by taking donations in the form of cryptocurrency and endorsing laws that benefit digital assets. However, Harris has advocated for a more cautious approach, despite the backing of prominent crypto personalities like Chris Larsen, a co-founder of Ripple.

Bitcoin Dips Amid Political Uncertainty

The political environment’s volatility is mirrored in the crypto market, with Bitcoin dropping to $68,000. Ethereum has also declined, showing how investor sentiment may be affected by the ongoing presidential race.

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STAKING AI Unveils No-Cost Crypto Staking, Bringing Staking Opportunities to Everyone

Summary

STAKING AI just dropped a game-changer with its new Free Crypto Staking Plan. This lets everyone from newbies to crypto pros in on earning staking rewards without risks of pushing any cash down. This daily, zero deposit staking option will make crypto more accessible to normies and even to the ones that don’t know crypto.

STAKING AI, one of the big names in PoS infrastructure space announced the release of its brand new Free Crypto Staking Plan. This plan provides crypto users with a risk-free entry into the staking world, where zero deposits are made which means it allows users to earn without any upfront investment. This plan mostly enhances new players’ staking experience and it is also beneficial for seasoned crypto users.

In short, this free crypto plan offers daily staking opportunities that doesn’t require any deposits, this makes it an ideal choice for anyone new to staking. STAKING AI says this mission will help expand blockchain’s access through its secure infrastructure and unique staking solutions.

Users require to sign up with their respective email, username and optional referral code to start accessing STAKING AI’s staking network which covers major assets and various staking plans. With such simple sign up users can enjoy Crypto Staking without risks. The company’s top tier setup guarantees non-stop access, worldwide reach and full time node support.

The platform also gives non-custodial delegation services, which basically means users have full control over their staked assets throughout the staking process. Additionally they use high quality PoS networks managed by a big international teams who work round-the-clock ensuring platform’s security.

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