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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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Pakistan Offers Legislation to Acknowledge Digital Currency

Summary

In an effort to establish a central bank digital currency (CBDC), the State Bank of Pakistan (SBP) has suggested that digital currencies be officially recognized as legal money. The framework, if implemented, will drastically change the country’s position on cryptocurrencies by giving the SBP the ability to keep an eye on digital assets and punish unapproved issuers.

X (formerly Twitter) post regarding Pakistan’s legislation

A Novel Approach to Digital Currency Recognition

To enable digital currencies to be accepted as official forms of currency, the State Bank of Pakistan has proposed changes to the State Bank of Pakistan Act. Adoption of this idea would allow the SBP to issue digital currency, which would fundamentally change the country’s view of digital assets.

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Legal Cryptocurrency Tender Status

According to the suggestion, it would be lawful for Pakistan to accept digital currencies like Bitcoin as payment methods. In contrast to the SBP’s previous cautious approach to virtual assets, legal tender status allows these digital currencies to be used for debt payments, products, and services.

Penalties and SBP Oversight for Unauthorized Issuers

The proposed framework grants the SBP the power to regulate both digital and conventional currency and includes provisions for punishing unlicensed digital currency producers. The goal of this monitoring is to further solidify the SBP’s authority over the nation’s financial system by reducing the issuance of unregulated digital currency.

Modification of Policy Concerning Dual Nationals in Executive Roles

The plan would also let dual nationals to occupy key roles within the SBP, reversing previous restrictions. In keeping with this measure are the government’s broader economic reforms aimed at modernizing Pakistan’s banking sector and attracting more expertise.

A Step Toward Digital Finance Modernization

The shift in Pakistan’s approach to digital assets supports the government’s economic goals, including projected GDP growth of 2.5-3.5%. As global finance becomes increasingly digital, Pakistan aims to keep pace by updating its regulatory framework to support a digital financial landscape.

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Top AI Bot Truth Terminal Struggles to Go Live with Its Own Website

Summary

Crypto influencers hype up AI bots whenever they get their chance and rightfully so because AI bots and AI managed funds are no doubt incredible advancement in artificial intelligence but these bots still require humans for performing basic tasks. The most popular AI agent Truth Terminal has faced same problem as this incredibly intelligent AI couldn’t even set up a website without human intervention.

AI is being more and more mainstream everyday and consequently talks about AI agents buzz over the internet every now and then. Crypto influencers and big investors praise these bots whenever they get the chance. Among these AI agents, one of the most popular ones is Truth Terminal, known profoundly for being the first AI millionaire. This powerful AI bot couldn’t make its own website live without any helps from humans, this proved AI bots are not fully independent and actually need human intervention.

According to Andy Ayrey, the programmer behind Terminal of Truths, the bot could not create its own website and so Terminal of Truths created a website and also co-registered a domain name for memecoin Goatseus Maximus (GOAT). Although there is no proof, it is said that the bot actually tried to register a domain name for the GOAT website via GoDaddy using Ayrey’s 2-factor authentication procedures but, not only did these actions require human involvement to enable this in the first place, it also needed a person to fix a DNS issue at GoDaddy.

To make events even worse, Andy’s X account got hacked and he apparently managed to steal Terminal of Truths’ website and used that to steal from innocent victims who believed blindly on the hacker thinking its the bot’s marketing strategy.

In the end, the hype for AI bots and their supposed independence is not as bright as we thought. However, with so many questionable claims surrounding this bot, some people are convinced the whole story might just be a hoax.

Polkadot’s 300% Surge Prediction Grabs Attention, But CYBRO’s AI Edge Dominates the Market Buzz

Summary

Polkadot making it big with a potential 3x gain on the horizon but CYBRO’s AI game is putting it in the spotlight. The hype is real as both sides battle it out for the top spot. Its got everyone wondering: who is going to dethrone other? This showdown might shake up the entire crypto scene and its interesting to see who wins.

CYBRO

CYBRO is changing the landscape of DeFi by utilizing the power of artificial intelligence to maximize their earning potential on the Blast Blockchain. Even in its early stage it crossed a staggering $3 million mark in its presale. CYBRO token has cemented itself as the power platform in the crypto scene and is poised to become indispensable in the crypto world. Considering its current undervaluation, expert believe this token has 1200% growth potential, making it a must have for savvy investors.

Polkadot (DOT)

The side is not so bright on Polkadot as it has been in a slump for the past 6 month which led to its drop by over 42%. It is currently trading in the price ranging from $3.77 to $4.55 and its scarily close to its support level at $3.41. Indicators are hinting this is all due to overselling of the token. The RSI is sitting at 43.53, and the Stochastic at 22.68, which could mean it’s hitting bottom soon.

But even though this seems hopeless, the 10-day and 100-day moving averages are nearly the same at $4.17 and $4.14 which means that its stable and the MACD indicator is only slightly negative which means that even though the momentum is weak there is a chance for comeback.

Therefore, Polkadot (DOT) might be eyeing a 300% boost, but CYBRO’s got the edge with its AI-driven DeFi platform on the Blast blockchain. The showdown has already begun and investors are watching closely on both sides, its interesting to see where this will go.

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Solana Breaks Records Across the Board – Is SOL About to Skyrocket?

Summary

Solana is absolutely booming right now, hitting some major heights that are getting investors all pumped up. With such insane improvements in how fast it handles transactions and a serious boost in active users, Solana is popping off like a rocket. This momentum could mean big things for SOL itself, pointing towards some serious gain if this keeps up.

Solana, a high-performance blockchain platform designed to support dApps (Decentralized apps) and crypto projects at lighting speed has recently made it to impressive heights across various metrics, sparking enthusiasm among investors. The networks’ improvement is most seen in transaction speed and user adoption. These indicate a strong growing trajectory and it only suggests upward momentum in the future. This rise is also setting a stage for rise of Solana’s native token SOL.

During the last week of October, Solana (SOL) started getting massive gains, increasing by almost 8.07%. Its price rose as high as $181.04 during that time but this momentum shifted downwards as by October 26 its price reached $160, despite bitcoins effort to push altcoins similar to Solana. As the time of writing, trading volume for Solana has jumped by 38% in the past 24 hour, reaching $3.89 billion. With a circulating supply of 470 Million SOL and a market cap of almost  $81,149,286,215, SOL is comfortably placed at number 5 in the crypto market.

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