Seizure of Russian assets across the globe is picking up steam. According to Bloomberg, at the request of G7 state leaders, a group of legal experts greenlit the arrest of $300 billion, assets of Russia’s central bank, as such actions are permitted by the international law with regard to the scale of Russia’s invasion of Ukraine. The U.S. Department of Justice said they intend to seize the assets of the Russian oligarchs worth $700 million.
The West’s closing in on the Russian tycoons, the majority of whom are actively involved in financing the Russia’s barbaric war, one way or another. Hence, the oligarchs seek save havens for their money. Many try to make their stash go unnoticed in the UK and its jurisdictions.
Our investigation deals with German Kaplun, the former owner of the Russian propaganda media RBC, who’s now trying to create an image of a law-abiding British investor; Kaplun is looking to whitewash his money in the UK through TMT Investments, and in Ukraine – through the very same enterprise and his cousin Yosyp Pintus, the owner of RBC-Ukraine. However, the money Kaplun and Pintus are trying to launder are soaked in blood, since they came from the Russian government, the Ministry of the Interior in particular, with licenses for some of Kaplun’s companies issued by the FSB [Federal Security Service]. Let’s start from the top, shall we?
So, German Kaplun is known in the UK as the owner of TMT Investments. Company shares are traded at the London Stock Exchange. Company’s a typical close-end venture capitalist that mostly operates with its own money, bringing in the external investments in some high-risk operations. As you can tell, the enterprise does not shy away from outright manipulation of securities.
From Russia with frauded investors
For instance, a case that pops up in mind is a scandal with TMT Industries sale and purchase of shares of Cypriot Appsindep (developer of online games for social network platforms) among the Kaplun-affiliated companies. As a result of such manipulations, TMT investors lost their money, and turned to private investigators to establish facts of violations in the management of investors’ funds. According to the available at the time intel, collected by the detectives (Appsindep file), established are the facts of deliberate purchase of a “dummy” (Lightvision Interactive Ltd with no physical assets, founded in Hong Kong in 2010 by Kaplun’s business partner), failure to disclose affiliations in share transactions, manipulations of financial statements – a blatant violation of the LSE listing rules and British financial legislation.
Some of the law-breaking acts were committed by Kaplun’s cousin, Yosyp Plintus, and his British Virgin Islands company PARADY BUSINESS GROUP, namely the purchase of Lightvision Interactive shares from TMT in December 2013 (Lightvision Parady file). It’s hard to say when PARADY BUSINESS sold off Lightvision Interactive shares, the Hong Kong company was liquidated in 2017.
TMT Investments was founded in the fall of 2010, in Jersey (United Kingdom), by Kaplun and his RBC business partners. The information of the shareholders is public. Kaplun indirectly own 24% of company shares, and is the major shareholder. Most of the managerial staff are former Russian Federation citizens, RBC employees under Kaplun’s command. TMT managers and shareholders invested in an extensive network of offshore companies in various jurisdictions for the following facilitation of TMT operations with securities. The 2020 entry in the Jersey registry shows that TMT shareholders list has over 30 names, with brokerage companies, Belize and BVI-based trusts, Russian nationals (TMT 2020 file, closing pages). All TMT managers – former citizens of the Russian Federation – are now holders of UK passports.
This fact alone is a threat to the national security of the United Kingdom should you know the origins of money that Kaplun and TMT Investments operate. This money comes straight from the Russian government, namely the punitive state bodies. This money was made under supervision and with blessing of the FSB.
“British” investor with money off Gazprom, Rostec, and Russia’s law enforcers
Starting in the early-2000s, the Russian holding company RBC ran a separate IT business unit under the RBC SOFT brand. In 2007, RBC shareholders voted in favour of separating RBC’s IT business into a standalone holding company ARMADA.
In that same 2007, ARMADA shares were listed on the Moscow’s RTS and MICEX exchanges; for the $20 million proceeds from the sale of some company shares, was bought a string of other Russian IT-enterprises that developed and integrated software solutions in B2B sector (logistics, banking, trade, government structures).
Group of companies ARMADA had three business lines: Armada Soft (software development), Armada Center (software integration and hardware solutions), and Armada Online (cloud-based business services).
According to Russia’s Federal Treasury, between 2011 and 2017, ARMADA won 79 bids for the government agencies and companies, worth $80 million in total. Among the major clients of ARMADA were Moscow’s city hall, Ministry of the Interior, Ministry of Health of the Russian Federation, Ministry of Education and Science of the Russian Federation, Federal Treasury of Russia. Also, Gazprom, VEB, Sberbank, and “Russian Helicopters” that is part of Rostec military concern.
In 2013, ARMADA was granted a license issued by the Second Service of the FSB that permits the development of secure systems and encryption tools.
“Armada” was co-owned by Kaplun and some other Russian oligarch, Mikhail Fridman (Alfa Group). In the summer of 2014, ARMADA’s two central shareholders at the time, Kaplun and Fridman, had a fallout on the grounds of mutual claims to gain de facto control over the company. Kaplun came out victorious, and was in charge of ARMADA.
As reported by ARMADA Joint Stock Company, Kaplun still sits on the company’s Board of Directors and, despite the recorded claims of having no ARMADA share capital, is in fact in indirect possession of ARMADA shares via the offshore MENOSTAR HOLDINGS LIMITED (Cyprus) and ARSENAL ADVISOR LTD. (BVI).
Therefore, judging by the actions of German Kaplan and his cousin Yosyp Pintus, these two are clearly engaged in money laundering; it’s not just some Russian money, oh no, it’s the money from the Russian state agencies, some of which are either state secret services, or are part of Russia’s military complex.
The agent’s bazaar of good Russians in Ukraine
The second country where Kaplun whitewashes his Russian money is, which may come as a surprise, Ukraine. He is helped by his cousin Yosyp Pintus, the owner of one of Ukraine’s largest digital media, information agency RBC-Ukraine. The front for money laundering and, most likely, working for Russian interests is a venture IT-syndicate TOLOKA.
In June 2023, Ukrainian media announced the arrival of an investment community under the TOLOKA brand name. The reports said the co-founders of the project are Igor Shoifot (TMT Investments), Taras Kyrychenko (Nova Poshta), and Oleksandr Kolba (Promodo).
TOLOKA’s official site highlights the support of the entrepreneurial effort in Ukraine, charitable funds, and support of Ukraine in general.
The relevant “Ukrainian” picture was painted in his interview by one of TOLOKA’s declared co-founders, representative of TMT Investments, Igor Shoifot.
However, according to Shoifot’s LinkedIn page, he completed his higher education in Moscow, securing his PhD from the Russian Academy of Sciences.
Moreover, he’s been Kaplun’s business partner since March 2011, basically from the earliest days of TMT Investments.
Russian role in Shoifot’s life and experience was never part of TOLOKA’s discussion. The fact the largest investor of TMT Investments, German Kaplun, is a Russian national, was never brought up as well.
It’s worth pointing out, the most media coverage dedicated to TOLOKA came from the outlet ProIT, founded in the summer 2023 (inside the same timeframe as TOLOKA) by the former editor-in-chief of RBC-Ukraine Anton Podlutskyi, and former writer on economics, PR-expert Olesia Ostafiieva.
TOLOKA news were also posted on RBC-Ukraine.
Russians in control of one of Ukraine’s largest media
RBC-Ukraine is currently in Ukraine’s top-5 digital media outlets. Established in 2006, it’s a regional branch of the Russian media holding company RBC (short for “RosBusinessConsulting”), owned by German Kaplun. Ukrainian subsidiary of RBC is run by Yosyp Plintus, Kaplun’s cousin. The official narrative enforced by RBC-Ukraine, solidified on its Wikipedia page as well, is that Ukrainian agency parted ways with the Russian holding company in 2010, and has been fully under control of Pintus since 2015. RBC-Ukraine is painted as an independent company starting 2014, having nothing to do with the former Russian owners.
However, there’s ample evidence this is untrue. Our investigation found:
1. RBC-Ukraine can be controlled and financed by the Russian parties via anonymous offshore enterprises
2. Yosyp Pintus, owner of RBC-Ukraine, lies about severed ties with Russia. Pintus-controlled companies partake in fraudulent schemes targeting British investors
3. Pintus’ Ukrainian passport is used by Kaplun to legalize his endeavors in the UK and other countries, where Russian money is not welcome.
Let us look closer ay the evidence at hand. So, the de facto ownership of information portal rbc.ua, according to the information on the said site, is carried out by LLC UBT MEDIA. CEO is Yosyp Pintus, deputy CEO is Volodymyr Shultz. Both are listed as co-owners.
The basic structure of Pintus and Schultz’s ownership in all registered Ukrainian companies:
At the same time, Pintus is still the head of RBC-UKRAINE LLC, the “operator” of the rbc.ua website until 2015. The owner of RBC-UKRAINE LLC is MASS MEDIA GROUP LLC (100%). The owner of MASS MEDIA GROUP LLC is THORNLEY INVESTMENTS LTD (BVI, 100%). There is currently no information about the ultimate beneficiary of THORNLEY INVESTMENTS.
RBC-UKRAINE LLC, according to the Report on the listed affiliates, was a unit within the overall structure of the Russian RBC.
THORNLEY INVESTMENTS LTD (current owner of MASS MEDIA GROUP) is also among the companies affiliated with RBC Holding (RBC THORNLEY LTD file).
It’s worth mentioning that according to public sources, Belize company SOUTHBURY MARKETING INC., beneficiary company of New Business Media, was closed in 2019, yet in Ukrainian registers it is listed as the current owner of New Business Media.
RBC trademark ownership in Ukraine
Rather telling is the fact that, despite the claims of severed ties with the Russian company RBC, Yosyp Pintus went above and beyond to keep the Russian trade mark operational in Ukraine. As an example of such a strenuous effort on behalf of Mr. Pintus is a court case from 2015-2018, which revolved around the ownership rights for the RBC trademark. Plaintiff, MASS MEDIA GROUP, sought to invalidate the agreement on the transfer of rights to use the RBC trademark, alleging the former RBC-Media accountant signed the relevant paperwork in violation of the Law. The third party involved was the BVI-registered THORNLEY INVESTMENTS LTD, owner of MASS MEDIA GROUP. According to the State Register of Property Rights, RBC trademark is owned by RBC-MEDIA LLC. Also, MASS MEDIA GROUP remains the representative of the right to the Russian trademark C-NEWS (www.cnews.com) in Ukraine on behalf of ROSBUSINESSCONSULTING JSC.
RBC-RF and RBC-Ukraine pre-2015
Until 2014, RBC-UKRAINE was in possession of the BVI-registered offshore company NewMediaHosting Inc. It is impossible to produce physical evidence of the previous connection at the moment. By the looks of it, NewMediaHosting Inc. has been liquidated.
Until 2012 at least, MASS MEDIA GROUP was owned by the Cypriot RBC INVESTMENTS (CYPRUS) LIMITED and GAROUSENTO HOLDINGS LIMITED. German Kaplun was in ownership of the Cypriot legal entity. Kaplun was managing the bank accounts of RBC INVESTMENTS (CYPRUS) LIMITED in the Russian Federation (RBC INVESTMENTS HISTORY file). Cyprus-based company was closed in 2015.
Until 2012, Pintus and Ukrainian legal entities were listed in the Russian registers as a structural part of the Russian RBC.
Pintus’ offshore companies working for Kaplun
The basic structure of Pintus’s main connections in all known offshore companies:
As for Pintus’ first parent company from the BVI, Aquarius Market, it is known from the archival sources on the internet media that the company was used by Kaplun to conduct RBC-Holding securities deals disguised as a third-party entity; the company was, in effect, under complete control of Kaplun through Pintus as a front. Russian media mention Trafford Inc from Belize (owned by Pintus) was used by Kaplun as a shareholder of RBC stakes. TRAFFORD INC. was closed in 2019.
Another BVI parent offshore company of Pintus, PARADY BUSINESS GROUP (has a mutual registrant with THORNLEY INVESTMENTS), was employed by Kaplun to facilitate his fraudulent manipulations with shares of another BVI legal entity, Berryman Capital Group. The deal on Kaplun’s purchase of Berryman Capital Group, a developer of online games for social networks, was public. The relevant news on the investment in Berryman is available in the TMT’s official announcement on the London Stock Exchange from 2012 (LondonStock Berryman file). Berryman Capital Group is also mentioned on the TMT Investments website as an implemented investment project.
Between 2015 and 2017, Pintus’ PARADY BUSINESS GROUP was the ultimate owner of 60% shares of Berryman Capital Group (through 2 offshore companies from the British Virgin Islands and Belize). Running the two companies were Kaplun’s proxies – Aleksandr Pak, TMT Investments manager and former analyst at RBC, and Larisa Koryakina, wife of Kaplun’s business partner, co-founder (along with Kaplun) of a production cooperative in Russia (Orgtechnika file).
It is presently impossible to verify the chain of ownership of PARADY BUSINESS GROUP – Berryman Capital Group, as at least one of the companies in the Belizean “chain”, ABA UNIT CORP. was liquidated in 2019. In addition, all three Belizean companies mentioned earlier and linked to Pintus (ABA UNIT CORP., TRAFFORD INC. and SOUTHBURY MARKETING INC.) were terminated in the same period – April 2019, which implicitly suggests a strong connection between all these Belizean companies used by Kaplun and Pintus for various schemes.
Conclusions that might interest the law enforcers of the UK and Ukraine
So,
- German Kaplun owns and runs a group of IT companies ARMADA in Russia, which, supervised by the FSB, develop software for government bodies in the Russian Federation, namely the Ministry of the Interior, Gazprom, military concern Rostec, Moscow city officials etc.
- Pintus, as the offshore companies’ owner and a citizen of Ukraine, is a valuable “asset” to Kaplun and TMT, in particular, in overcoming the UK restrictions on assets transactions of companies affiliated with or owned by Russian citizens or dual citizens of Russia and the UK. Pintus’s offshore entities (AQUARIUS MARKET and PARADY BUSINESS) were used in Kaplun’s schemes in RBC and TMT.
- Kaplun’s company TMT Investments co-founded TOLOKA, a project designed to find promising IT startups in Ukraine. The project is promoted by the former RBC-Ukraine media managers, and news about TOLOKA are also duplicated on Pintus’ RBC-Ukraine, which is definitely tied to Kaplun through long-standing, close family and business ties (see conclusions to Part 1). The combination of facts suggests that TOLOKA may be utilized by Kaplun to find and use Ukrainian IT startups for the benefit of, among others, Russian government agencies, for whom Kaplun’s other Russian IT company, ARMADA, has been working for a number of years.
- Russian national Kaplun, who has connections to the Russian government and intelligence services, keeps influencing one of Ukraine’s largest media outlets, RBC-Ukraine. During the restructuring of the Russian RBC in 2013-14, the actual owner of RBC-Ukraine was Kaplun through the Cyprus-based RBC INVESTMENT. In 2014, the actual owner of RBC-Ukraine (MASS MEDIA GROUP) became an offshore company from BVI, THORNLEY INVESTMENTS. Accordingly, there was either a sale and purchase agreement, or Kaplun donated the company to Pintus, or Kaplun remains the ultimate shareholder of RBC-Ukraine (through THORNLEY INVESTMENTS). THORNLEY INVESTMENTS is listed as an affiliate of RBC-RF, so there is a valid link between RBC-Ukraine and RBC-RF (through MASS MEDIA GROUP and THORNLEY INVESTMENTS).
Can it be a sheer coincidence the Russian citizen, whose backstory includes work experience for the Russian government in a highly sensitive field, controlled by the Federal Security Service, is now trying to go legit in the countries opposing Russia – UK and Ukraine? Is it indeed a coincidence or a secret mission? The front of an “entrepreneur” or an “investor” has been among Russian secret services’ favourite covers for a while now. To recap, the same alias was used by Andrey Lugovoy, who poisoned Oleksandr Lytvynenko with polonium, and Petrov and Boshyrov, who tried to poison Serhii Skrypal – and accidentally killed an innocent British lady. We’re hoping the law enforcement agencies of the UK and Ukraine can answer these weighing questions.
- Introduction
What if the future of physical infrastructure is shared, secure, and powered by blockchain? Decentralized Physical Infrastructure Networks (DePINs) are making it happen, transforming the digital landscape with innovative, decentralized technologies. However, despite their potential, DePINs face several challenges that hinder widespread adoption. This article dives into the world of DePINs, explores the challenges they face, and unveils how AYDO’s data-oriented approach is pushing the landscape forward and simplifying the process
- What is DePIN and How it Works?
DePIN (Decentralized Physical Infrastructure Network) leverages blockchain technology to create decentralized, transparent, and secure public infrastructure systems, supporting services like transportation, energy management and communication networks. It incentivizes individuals to create and maintain these networks by rewarding them with cryptocurrency for sharing digital resources and powering hardware networks. Token holders pay for services, vote on strategic decisions, and help secure the network, democratizing ownership and enhancing efficiency.
DePIN harnesses the power of blockchain and IoT to create a decentralized data economy. IoT devices become active participants, collecting valuable data and sharing it directly onto the blockchain. This decentralized approach eliminates intermediaries, ensuring data ownership remains with the generators.
By incentivizing data contribution through token rewards, DePIN motivates users to actively participate in data collection and sharing, fostering a collaborative ecosystem where data is a valuable asset. The blockchain serves as an immutable ledger, transparently recording data provenance and ensuring data integrity, while smart contracts automate data exchange and reward distribution.
- AYDO’s Vision
AYDO facilitates universal IoT connectivity, aiming to reduce integration barriers for DePIN and expedite the convergence of the real world with blockchain technology. AYDO believes that emphasizing modularity and seamless collaboration with IoT devices and architectures is crucial for the widespread adoption of DePIN. Through the provision of modular IoT integration, AYDO aims to simplify the adoption and maintenance of DePIN systems for market players. This modular approach eases the process for developers working on decentralized applications (dApps) and enables them to concentrate on the core aspects of their products.
AYDO simplifies data monetization by enabling users to effortlessly stream data to various platforms, including DePIN projects and AI models. This eliminates the need for users to invest in specialized hardware or configure individual data streams for each platform. By streamlining data access, AYDO lowers the barrier to entry for both data providers and consumers, fostering a more dynamic and interconnected data ecosystem. Users are rewarded for their data contributions in tokens or stablecoins, creating new revenue streams and incentivizing data sharing.
In addition, AYDO’s feature allows users to stream data on request to AI models, similar to how they stream data to DePIN projects. AI developers and researchers can now purchase valuable, real-time data streams directly from users through AYDO’s platform. This access to diverse data is essential for real world application of AI models, driving advancements in its applications.
- Market Potential
As Cointelegraph highlights, “DePIN will become one of this decade’s most important crypto investments.” Data, whether environmental or behavioral, is considered the new oil. AYDO’s core principle revolves around respecting users’ privacy and acknowledging their rights to data ownership. Their system architecture is designed with these principles in mind, allowing users to decide what data they share and with whom.
Source: IoT Analytics, https://iot-analytics.com/iot-market-size/
The global IoT market is expected to grow significantly, reaching an estimated 27 billion connected devices by 2025. According to a Deloitte survey of 156 Chinese manufacturers, 89% believe industrial IoT is critical to business success in the next five years, yet only 46% have established clear IoT strategies and plans. This gap presents a significant opportunity for solutions like AYDO, which simplify the integration and management of IoT devices, enabling companies to fully harness the value of IoT data for efficiency improvement, business growth, and risk management.
- Challenges in the Landscape
Despite significant improvements in privacy, security, and the economic opportunities DePIN offers, several obstacles need to be overcome for the industry to reach its full potential. Here, we focus on data collection challenges:
- Data Silos and Inefficient Collection: Currently, DePIN projects often operate in data silos. They struggle to collect data from a wide range of devices because they require specialized hardware for each project. This creates a barrier to entry for users and limits the type of data DePINs can access. AYDO breaks down these silos by enabling data collection from various generic IoT devices using existing user hardware. This significantly reduces costs and streamlines data collection for DePIN applications.
- Hardware Dependency and Cost Inefficiency : Many DePIN projects require users to purchase specific, specialized hardware, which is expensive due to the high costs of small-volume production runs. This results in users paying a premium for project-specific hardware, whereas generic, readily available alternatives are significantly cheaper. AYDO eliminates this dependency by allowing users to leverage their existing devices, thus reducing costs and making participation more accessible.Here’s a comparison of the cost between specialized DePIN hardware and generic IoT devices supported by AYDO:
| Hardware Type | Cost (USD) |
|---|---|
| Specialized DePIN Device | $200 – $1000+ |
| Generic IoT Device | $5 – $100 |
- AYDO’s Solutions: Streamlining Data for DePIN Efficiency
AYDO believes the solution to these problems lies in user control over data and collaboration between DePIN projects. Here are the ways AYDO addresses data collection challenges in DePINs:
- Broad Device Integration and Management: AYDO Hub (any server/computer/Raspberry Pi where AYDO software is installed) functions as a decentralized network, enabling the integration of thousands of devices from various vendors. It provides capabilities for monitoring and managing connected devices.
- Data Streamlining and Optimization: AYDO goes beyond simple data collection. The AYDO Hub can filter and pre-process data based on user preferences and DePIN project requirements. This ensures that only relevant data is streamed to DePIN applications, reducing bandwidth usage and optimizing data flow for DePINs. Additionally, AYDO allows users to adjust data streaming in real-time based on their preferences or project needs.
- Enabling AI and Machine Learning: By facilitating the collection and flow of high-quality data from various devices, AYDO empowers DePINs to leverage the power of AI and machine learning. This allows DePINs to extract valuable insights from the data, automate tasks, and optimize decision-making within physical infrastructure networks. For instance, imagine a smart city scenario where traffic sensors stream live data to an AI model. The AI model analyzes this data in real-time to optimize traffic light patterns, reducing congestion and improving traffic flow.
- User-Centric Data Ownership and Control: AYDO put the power in the hands of device owners by giving them full control and ownership of their data. AYDO’s blockchain-based decentralized infrastructure ensures the secure storage of user data, preventing unauthorized alteration and ensuring transparency. Users will have full transparency regarding the types of data they decide to share/stream and full control of the data they store.
- Minimal Hardware Requirements: The AYDO server (AYDO Hub) is compatible with devices equivalent to or more powerful than the Raspberry Pi Zero and single-boarded computers that meet minimum hardware requirements.
- AYDO Architecture
AYDO uses a chain-agnostic approach for data hashing and decentralized user data ownership. Note that this architecture is subject to change. In a private setup, sensors send data to an AYDO Hub via Wi-Fi or wired connection. The AYDO Hub sends Zero-Knowledge proofs to a Blockchain node and data to the AYDO backend. Users interact through a mobile app, connecting to the AYDO backend via REST/WebSocket protocols.
The AYDO Hub communicates with sensors using Wi-Fi, wired, or IoT protocols (e.g., Zigbee, Z-Wave), generating ZK proofs sent to a blockchain or layer 2 network. It also sends data to the AYDO backend, which processes Blockchain node data. In a public environment, AYDO interfaces with internet-connected blockchains. The AYDO Hub exchanges data with these networks via Wi-Fi or wired connection.
- The Road Ahead
The adoption of Internet of Things (IoT) devices is rapidly expanding in both businesses and everyday life. Even with supply chain challenges and chip scarcities, worldwide IoT connections are expected to reach 27 billion by 2025.
However, the bulk of IoT devices are currently implemented using an outdated centralized approach, neglecting modern technologies such as blockchain and other proven, reliable protocols. This has led to several issues coming to light, including scalability challenges, elevated operational costs, privacy considerations, security threats, and a deficiency in practical value. These problems limit the potential of IoT devices and may even affect market growth despite current forecasts.
For DePIN, this presents a great opportunity to connect this growing IoT market on both the consumer and enterprise sides. Bringing more data where it is needed and eliminating information waste created by inefficiencies.
- Community and Real-World Value
DePINs are about creating tangible progress and real-world value. AYDO enhances this by breaking down data silos and empowering users to actively participate in the DePIN economy. Crucially, AYDO provides transparency regarding the types of data users share with DePINs without collecting the data itself. This approach fosters a more collaborative and inclusive DePIN ecosystem, driving innovation and enabling DePINs to address real-world challenges across various sectors.
- Conclusion
Integrating real-world sensor data into DePIN applications holds transformative potential for various industries. AYDO addresses the critical challenge of data collection by enabling DePINs to use data from generic, cost-effective IoT devices, which significantly lowers hardware costs and makes data streaming economically viable. Achieving such cost efficiency is essential for the widespread adoption of DePINs.
AYDO’s user-centric approach ensures secure data storage and ownership while streamlining data collection and flow. By making data streaming more cost-effective, AYDO not only supports the future of DePINs but also enhances their potential to harness AI and the Internet of Things. As the DePIN landscape evolves, AYDO’s focus on cost reduction and data efficiency will be pivotal in creating a more collaborative and impactful DePIN ecosystem.
Connect with AYDO: #JointheAYDO
Website: https://AYDO.ai/
Twitter: https://x.com/AYDO_ai
Telegram: @AYDOai
The talk in the crypto world is about the Bitcoin halving, which is anticipated to occur on April 19th, 2024. This happening might be a possible cause for an altcoin rally. History shows us that after halving, there has been a significant reduction in dominance by Bitcoin and typically this results in rising altcoin market caps. The upcoming halving of Bitcoin could result in a 50% reduction in mining rewards, making mining more difficult and potentially reducing the market power of Bitcoin. Similar events have seen a decline within 12 to 18 months after previous halvings.
The diminishing dominance of Bitcoin creates space for altcoins to experience increased capital rotation, much like what happened during past cycles. Following the adjustments made to mining rewards in both 2016 and 2020, there was a notable increase experienced by altcoin market caps many months after these halving events. This pattern strengthens the idea of growing interest towards altcoins after halvings.
In the shifting market scenario, some altcoins could attract significant attention and investment. Tokens like Sandbox (SAND), Chiliz (CHZ), Mina (MINA), and EOS (EOS) are anticipated to experience substantial growth in 2024. These cryptocurrencies are gaining popularity not just for speculative purposes but also due to their special use in areas like gaming, NFTs, and metaverse. This is appealing to both experienced persons who are interested in crypto investments and those who are new to this aspect of finance. The changing nature of the crypto world, thanks to Bitcoin’s halving, suggests that these altcoins may not only benefit from money being redistributed but also establish new norms within their respective sectors. This signifies an exciting year ahead for enthusiasts of altcoins.
Ride The Wave of Innovation with ScapesMania
The introduction of a new crypto project is usually met with very cautious optimism. But when its numerous past sales and token generation event (TGE) are a huge success, it all seems like the first step on a path full of growth potential. ScapesMania, the groundbreaking casual gaming project, has a lot to show for its unstoppable hype.
$MANIA has stepped into PancakeSwap, a decentralized exchange on the Binance Smart Chain network known for its extensive user base and liquidity. The debut trading day proved to be impressive. The token price demonstrated resilience, indicating robust tokenomics and promising prospects for the project. Unlike short-term ICOs, ScapesMania has proven itself to be a serious venture within a thriving market.
Just let the numbers speak for themselves:
- Holder count: 18.41K
- 24-hour trading volume: $2.25M
- Over 2,535 buys and 1,651 sells
ScapesMania also topped DEXTools’ Hot Pairs list right away after its debut.
This project started out with a presale event that garnered an incredible $6.125 million. The fact that it attracted over 60,000 followers across different social media networks and a vast number of holders is even more remarkable. This strong support and funding demonstrate how appealing and promising the project is to a wide audience. A real breakthrough might be just around the corner, so it would be a waste not to grab $MANIA tokens before they skyrocket.
The launch of liquidity pairings including MANIA/WBNB and MANIA/USDT marked the beginning of active trading. The demand from the community led to USDT becoming the main source of liquidity.
Why get involved with ScapesMania now that it’s listed? First, $MANIA tokenomics are balanced, with a cliff and vesting system helping maintain stability. Second, ScapesMania incentivizes community members through its staking program, rewarding commitment with extra tokens. Third, through DAO governance, community members can vote on ecosystem development decisions. Finally, ScapesMania continuously expands token utility, offering more benefits to $MANIA holders.
With a strong plan for promoting the project after listing, its success might keep up the record-breaking pace after its debut. The team’s dedication to long-term development and prominence in the cryptocurrency industry is shown by their impressive marketing efforts — 75K+ average monthly traffic is no joke.
Additional upsides that may be among the biggest deciding factors are:
- The project’s smart contract has been approved by BlockSafu. Holders may rest certain that the project’s infrastructure is reliable and up to par thanks to this endorsement.
- Enthusiastic support from numerous notable crypto influencers. It lends legitimacy and affirms ScapesMania’s status as one of the promising new projects.
- Experienced team. Innovating and executing a project successfully requires a team of seasoned specialists. This project is in a strong position to overcome any obstacles and take advantage of opportunities.
- Bright future. The project has come a long way, but it still has a long way to go. There are tentative plans to list on a centralized exchange (CEX), which will provide access to more markets and more liquidity.
Everything about ScapesMania was carefully designed to facilitate major growth potential. From successful, well-publicized sales to its advantageous alliances, seasoned staff, and strategic positioning in the casual gaming niche – it looks poised for big things.
Choosing ScapesMania right now, post-TGE, offers early access, exclusive benefits, diversification, lower competition within a dynamic niche, and, more importantly, a potentially perfectly-timed entry point. The coin’s stable post-listing price and strong initial support, coupled with an influx of newcomers, indicate long-term confidence, so it might be the time to make your decision.
Sandbox (SAND): A Virtual Real Estate Boom?
Sandbox (SAND), an NFT-based platform, is finding its place in the blockchain gaming and metaverse sector. It competes with other platforms such as Decentraland and Axie Infinity. This show of strength shows not only gamers but also marketers and developers are being drawn to it too; thus showing that the ecosystem is strong and growing well. The platform’s market presence benefits from a variety of applications – ranging from gaming to virtual real estate – which keep attracting interest in the wider digital assets market.
Sandbox (SAND) is keeping a careful equilibrium in its trading worth. The token has shown ups and downs, fluctuating from a lower support mark of $0.6503 to a higher resistance point of $0.8090.
In the future, Sandbox (SAND) has a chance to grow significantly. It is possible because it keeps on spreading its presence in gaming and metaverse areas. If the platform continues to develop and draw more users, there are forecasts that say the price could possibly go up to $1.133 by the end of 2024. But this hopeful situation depends greatly on successful introduction of planned improvements as well as ongoing fascination with NFTs and metaverse uses among people. On the other hand, if the platform encounters problems or does not make use of its updates in a way that investors find satisfactory, then the price might go back to about $0.610. The expected trading price that takes into account both positive and negative views could settle around $0.902 on average.
Chiliz (CHZ): Revolutionizing Fan Engagement
Chiliz (CHZ) has made a name for itself in the sports and entertainment industries by using blockchain technology in a new way to involve fans. The platform’s capacity to combine cryptocurrency with sports enthusiasm has drawn many users, leading it into important market positions. Even though there are some ups and downs, Chiliz (CHZ) continues showing strong performance which shows its ability to endure difficulties while having potential for continuous expansion.
The trading value of Chiliz (CHZ) is now around $0.147, showing a slight rise from its recent low point. The market has observed Chiliz (CHZ) holding support levels well above the yearly lows, which indicates that there exists strong backing from investors and an enduring interest in this coin. Having gone through different market cycles, it seems like Chiliz (CHZ) is standing steadily with its ups and downs handled smoothly – showing stability even in fluctuating cryptocurrency markets.
Chiliz (CHZ) has a good future because it is in a special place within the cryptocurrency fields related to sports and entertainment. The year 2024 might see its value increase, with prices possibly going up to $0.30. If the platform keeps growing its collaborations and improving technology, top price goals for next year could go higher still – they might potentially hit $0.42 by 2025 and $0.51 by 2026. Overall, these predictions show a positive outlook for Chiliz (CHZ). However, it is important to consider the effects of market competition and regulatory difficulties that may influence the growth path. The imaginative application of fan tokens and continuous advancement suggest a hopeful future for Chiliz (CHZ).
Mina (MINA): The Lightweight Blockchain Revolution
Mina (MINA) is unique in its claim as the “world’s lightest blockchain,” a quality that makes it different from other digital currencies. This feature keeps Mina (MINA) size constant even as more transactions occur, making it highly scalable and easy to access. This characteristic of Mina (MINA) has drawn interest within the blockchain community. At present, one unit of Mina (MINA) trades at approximately $1.28 with an increase just under 7% over last week’s period.
Mina (MINA) has shown good performance lately, as its price recovered from a low point and then kept increasing at a steady rate. The token’s ability to maintain its place in the market during times of ups and downs demonstrates strong trust from investors as well as usefulness within the blockchain industry.
The future of Mina (MINA) looks promising, as some forecasts say its price might even go up to $2.76 by the end of 2024. If it keeps being the only blockchain that is very small, Mina (MINA) could attract more value and perhaps even reach a price of $13.24 by 2030. These positive predictions depend on people continuing to use it and more generally, lightweight blockchain solutions becoming widely accepted. Yet, similar to all other cryptocurrencies, Mina (MINA) is not completely free from difficulties. It can still be influenced by market instability and competition forces that might affect the direction of its price.
EOS (EOS): Pioneering Decentralized Applications
EOS (EOS) has made its mark in the cryptocurrency market through its concentration on decentralized applications. The technological framework of this digital currency, which puts emphasis on scalability and ease for users, has helped it stay competitive. Even though it experienced some ups and downs before, the feeling of people in today’s market towards EOS (EOS) is hopeful but careful. The token is trading at about $1.11 now.
EOS (EOS) price actions have shown a combination of difficulties and rebounds. The token has seen significant ups and downs, yet it is still common in numerous crypto asset collections because its potential lies within the sphere of decentralized applications. The current direction shows a steadying or even slightly growing path for prices.
For the future, EOS (EOS) could have interesting growth possibilities, especially in the changing area of decentralized applications. In 2024, a prediction says that its price might be anywhere from $0.65 to $1.82 which indicates possible increase due to market acceptance and technological progressions over the time period mentioned above. By 2030 this could rise even higher at around $5.62 up until approximately $8.10 because more people are using it and there will continue being new developments made for it as well (Bencic, 2021). On the other hand, for the optimistic projections to come true, EOS (EOS) needs to handle tough competition in the blockchain field and keep up with its technological advantage.
Conclusion
As the Bitcoin halving approaches on April 19th, 2024, the cryptocurrency community is buzzing with anticipation of a potential altcoin rally, similar to previous cycles where Bitcoin’s dominance waned post-halving, benefiting altcoins. Historical patterns have shown that altcoin market caps tend to surge following the halving events, as seen in 2016 and 2020. This expected reduction in Bitcoin’s mining rewards and the consequent difficulty increase could decrease its market dominance again, setting the stage for substantial capital inflows into altcoins. This backdrop supports the growing interest in altcoins as investors look to diversify beyond Bitcoin in anticipation of these cyclical market shifts.
In light of this shifting landscape, several altcoins such as Sandbox (SAND), Chiliz (CHZ), Mina (MINA), and EOS (EOS) are forecasted to see significant appreciation in 2024. These tokens are gaining traction not only for speculative purposes but also for their unique roles in burgeoning fields like gaming, NFTs, and the metaverse. As the crypto environment evolves with Bitcoin’s halving, these altcoins are expected not only to benefit from a redistribution of capital but also to set new industry standards, making 2024 a potentially exciting year for altcoin enthusiasts and new market entrants alike.
Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of our site, nor is it intended to be used as legal, tax, investment, or financial advice.
Book of Meme (BOME) and Pepecoin (PEPE) both delivered astronomical returns to early investors.
Kitty Queen Coin (KITQUE) has burned 40% of the 5 billion tokens that were minted, by transferring all tokens in the Raydium liquidity pool to a dead wallet.
Specifically, 2 billion KITQUE tokens were burned just around three hours after the memecoin began trading today.
This comes after Kitty Queen Coin’s price has rallied 2,024% in the last three hours, with it currently trading at $0.00002478.
Despite this impressive rally, KITQUE (contract address: F6LdtNP9zThSuCwdweAGqngC9XufhDfMYjFio3mWZT9e) currently has a market cap of just $120,000, meaning it still could easily rally another 7,000%-10,000% in the coming weeks and months.
Its market cap is forecast to hit at least $2 million by the end of April, meaning investors who buy in at the current price will generate approximately 1,600% returns within a couple of weeks.
KITQUE is one of the most exciting Solana memecoins to be released this month, and it does appear to have the potential to eventually challenge coins such as Book of Meme (BOME) and Pepecoin (PEPE).
PEPE and BOME both generated massive returns for their early investors, as they surged and became mainstream.
It remains to be seen if KITQUE will be able to achieve a market cap of $100 million or over, but it certainly has plenty of potential to achieve a $5mn-$10mn market cap, so it’s not surprising that there is huge buying pressure on the token’s first day of launch.
Kitty Queen Coin is currently only available to trade on decentralized exchanges, such as Raydium and Jupiter, but it will be listed on several centralized exchanges later this month, providing another bullish catalyst which early investors will profit from.
Worldcoin (WLD), the cryptocurrency associated with Sam Altman’s innovative retina-scanning project, experienced significant fluctuations in its value in recent days, coinciding with Altman’s departure from OpenAI and subsequent rumors of his potential return before ultimately being replaced.
On November 16, WLD reached a high of $2.48, but its value began to decline shortly thereafter.
The decline intensified after Altman’s departure from OpenAI became public on November 17 in the United States, causing WLD to plummet to a low of nearly $1.84, according to data from CoinGecko.
However, the token managed to stage a recovery, surging by 12% within the following 24 hours, reaching an intraday high of $2.54 during Asian trading on Monday morning.
Nevertheless, WLD once again faced a drop in its value, falling to $2.30 after Altman was officially replaced as CEO by Emmett Shear, co-founder of Twitch.
It’s worth noting that Altman was one of the co-founders of Worldcoin, which was launched in July as a digital identity platform with grand ambitions of creating a global ID and financial system.
READ MORE:The Best Ways to Earn Passive Income with Cryptocurrency in 2023
This system would rely on retina scanning technology to authenticate individuals, addressing concerns related to privacy and security amidst the growing influence of artificial intelligence (AI) technology.
The launch of Worldcoin sparked a polarized response within the cryptocurrency community, with many questioning the project’s degree of centralization and its implications for user privacy.
Interestingly, over the past 24 hours, AI-related cryptocurrencies have exhibited strong performance.
The market capitalization of AI-related tokens recorded a notable 7.2% increase, reaching $6.5 billion.
Tokens like Fetch.ai (FET), SingularityNET (AGIX), and Akash Network (AKT) have witnessed double-digit gains during this period, as reported by CoinGecko.
In summary, Worldcoin’s recent volatility was closely tied to the developments surrounding Sam Altman, its co-founder, and his departure from OpenAI.
The cryptocurrency continues to be a subject of scrutiny and debate within the crypto community, while AI-related tokens as a whole are demonstrating resilience and growth in the market.
Coinbase, a prominent cryptocurrency exchange, made two attempts to acquire FTX Europe, with the intention of expanding its derivatives business internationally.
However, it has now been revealed that Coinbase has decided against pursuing this acquisition, as reported by Cointelegraph.
These acquisition endeavors occurred in November 2022, shortly after FTX’s parent company experienced a significant setback, and again in September 2023.
A spokesperson from Coinbase confirmed the reports, stating, “We’re always evaluating opportunities to strategically expand our business and meet with many teams around the world.”
Besides Coinbase, other entities expressing interest in acquiring FTX Europe include Crypto.com and Trek Labs.
The sale deadline for FTX Europe has been extended until September 24. FTX had previously invested nearly $400 million in its European branch.
FTX Europe conducted its derivatives trading activities under a regulatory license from Cyprus. At the time of its parent company’s downfall, it was the sole provider of several popular derivatives products, including perpetual futures.
Derivatives are financial instruments whose value is derived from an underlying asset, such as Bitcoin (BTC).
READ MORE: Creators Embrace Decentralized Platforms as Web3 Reshapes Adult Content Industry
They encompass various types, including options, futures, and swaps, and are commonly used by investors for hedging, leverage, and market speculation, making them a favored strategy among traders and institutional investors.
The potential acquisition of FTX Europe could have significantly boosted Coinbase’s fee revenue, given the growing popularity of crypto derivatives trading, even during bear markets.
Coinbase’s latest quarterly earnings report revealed $707 million in revenue for the second quarter of 2023, with $327 million attributed to spot trading—a 13% decline from the previous quarter.
Simultaneously, global derivatives trading volumes on centralized exchanges experienced a 13.7% surge in June, reaching $2.13 trillion, as per CCData.
Binance emerged as the leading platform for cryptocurrency derivatives trading, with a trading volume exceeding $1.21 trillion in June, followed by OKX exchange at $416 billion, marking a 44.9% increase in activity.
Bitcoin futures trading also spiked on the CME exchange, reaching $37.9 billion, a 28.6% increase in the same month.
Notably, Coinbase has also ventured into the derivatives markets in the United States. In August, it received regulatory approval to offer crypto futures investments to eligible customers in the country.
This approval enabled Coinbase to introduce Bitcoin and Ether (ETH) futures contracts through its Commodity Futures Trading Commission-regulated derivatives exchange, FairX.
The global crypto derivatives market, according to Coinbase, represents nearly 75% of crypto trading volume worldwide and serves as a critical access point for traders.
Other Stories:
ASIC Launches Legal Action Against Kraken’s Australian Operator Bit Trade
South Korea’s Cryptocurrency Holdings Surpass $98 Million, Dominating Overseas Assets
Bitcoin Holds Steady at $27,000 as Crypto Community Awaits Fed’s Decision
Several analysts have predicted that the price of Flasko (FLSK) will rally in the coming 18-24 months, but is this token a good investment for retail crypto traders. Read on to find out more about Flasko, including our price prediction and an overview of the platform.
What is Flasko?
In an innovative approach to wine and spirits investment, a new platform, Flasko, was launched in 2022 to offer users the chance to invest in high-end alcoholic beverages using non-fungible tokens (NFTs). The goal is to enable potential investors to purchase NFTs, each representing a certain amount of a bottle or case of alcoholic beverages, that can either be held onto or sold at a profit.
The unique aspect of Flasko’s approach lies in the fractionalization of the NFTs, allowing investors to purchase a part-NFT. This concept is similar to buying a fraction of an ether (ETH) token on a cryptocurrency exchange. Despite the fractionalization, part-NFT holders maintain their investments on the specific part of the tokenized item.
The system’s whitepaper describes the daily monitoring and analysis of the market by their experts to identify the products with the most potential for long-term growth. Flasko offers a range of wines, whiskeys, and champagnes, which are stored in insured and licensed-bonded warehouses.
One of the key features of Flasko’s system is the ability for users to purchase either a fraction or the entirety of an NFT, and have the represented alcoholic beverage delivered to their specified address free of charge. The NFTs represent individual investments or even a basket of various alcoholic beverages. These NFTs and their fractions are tradable via the Flasko platform, allowing users to buy and sell their investments.
Flasko price prediction and ROI
Flasko’s website claims that wine, whiskey, and champagne investments have delivered a 28% return on investment (ROI) in recent years. However, potential investors should conduct their own research to verify these claims and understand the implications for their prospective investments.
It’s important to understand that past performance does not guarantee future results. The value of these drinks could possibly stagnate or decline in the coming years. Therefore, investors are urged to exercise caution and carry out thorough research before committing their funds to such investments.
Every blockchain and blockchain-based network requires its own native cryptocurrency, and Flasko is no different. It features the Flasko token (FLSK), which serves to keep the system operational.
Owners of the Flasko cryptocurrency can use it to purchase the system-created NFTs and stake their Flasko tokens for rewards. Additionally, those holding a certain amount of Flasko, the specifics of which have yet to be announced, will gain access to in-person events.
However, there is ambiguity regarding the blockchain on which the Flasko cryptocurrency is based, making it unclear whether we are referring to the Flasko token or the Flasko coin. While every coin is a token, not all tokens are coins. At the time of writing, we have sought clarification from Flasko but received no immediate response.
The Flasko token is not yet available on the open market but is currently in the presale stage. During the presale, 35% of the total supply of one billion tokens will be up for sale. Other allocations include 12.5% for exchange listings, 17.5% for marketing, and 14% for the development team. Protocol community investments will receive 15%, while 5% goes to platform partnerships, and 0.5% will be directed towards charitable causes. The presale end date remains unspecified.
After the presale concludes and Flasko (FLSK) enters the open market, transactions will incur a tax. Purchases will carry a 7% tax, distributed between marketing (4%), liquidity pool (2%), and token burn (1%). Sales, on the other hand, will have a 14% tax, with distribution to marketing (9%), the liquidity pool (3%), and token burn (2%) intended to maintain a reasonably high price.
In summary
Flasko presents an innovative and unique opportunity to invest in high-end alcoholic beverages via fractional NFTs. Despite the promising prospects, potential investors should conduct their own due diligence and remain cognizant of potential risks. The evolution of Flasko’s business model and tokenomics will certainly be interesting to follow in the coming months.
Inclave Casino stands as a shining beacon of modern gambling entertainment, nestled within the hustle and bustle of the contemporary urban scene. As a symbol of a vibrant gaming culture, this establishment strikes a perfect balance between the classic essence of casino gaming and the innovation of digital age technology.
Stepping into Inclave Casino, one is greeted by an atmosphere that perfectly combines luxury and excitement. The beautifully decorated interior captures the spirit of elegance, with opulent chandeliers illuminating the space, intricate gold detailing along the walls, and plush, comfortable seating. Yet, amid this lavish setting, the thrill of the gamble pulses through the air, creating an exhilarating environment that invites visitors to engage in their favorite games.
The casino’s gaming floor is an awe-inspiring sight, presenting a grand assortment of traditional and modern games. Row upon row of slot machines fill the air with their playful, chiming melodies. Each machine offers a unique theme, from classic fruit designs to more adventurous concepts, ensuring that there’s something for everyone.
Table games are plentiful at Inclave, with numerous variations of poker, blackjack, baccarat, and roulette available. High-quality felt tables, impeccably maintained, and attended by professional dealers lend credibility and sophistication to the gaming experience. Whether a novice or a seasoned pro, the games are accessible to all, fostering an inclusive gaming community.
Poker at Inclave Casino
The Inclave Casino also boasts a world-class poker room, offering high-stakes games for the more serious players. These rooms have become a popular hub for both local and international poker enthusiasts, hosting a multitude of tournaments throughout the year.
What sets Inclave Casino apart is its innovative incorporation of technology. Reflecting the digital era, the casino has integrated modern tech solutions to enhance the gaming experience. Biometric identity verification ensures secure transactions, while digital game variants offer an alternative for tech-savvy players. Inclave has even introduced a digital currency system, allowing players to easily manage their gaming funds electronically. This symbiosis of tradition and innovation sets the benchmark for the future of the gambling industry.
Inclave Casino also offers an impressive array of dining options. Visitors can savor a wide range of cuisines at the establishment’s premium restaurants, from gourmet meals to comfort food. The casino’s cocktail bars offer an assortment of expertly crafted drinks, perfect for unwinding after a thrilling session on the gaming floor.
Entertainment
In terms of entertainment, Inclave Casino pulls out all the stops. Regular live music performances, comedy shows, and other events offer a rounded entertainment experience, providing visitors with more than just gaming. The casino’s dedication to providing diverse entertainment options helps to create an environment that caters to a broad audience.
Moreover, the casino prides itself on responsible gaming, promoting a healthy balance between gambling for entertainment and maintaining financial control. Inclave Casino has made it its mission to provide a safe and responsible environment for all players, with staff trained to identify and help manage problem gambling behavior. This commitment to responsible gaming reflects the casino’s values and adds another layer of trustworthiness to its brand.
In terms of customer service, Inclave Casino leads by example. With a highly trained staff always ready to assist, the casino ensures that all visitors receive a first-class experience. Be it a question about the games, help with reservations, or simply a need for recommendations, the staff handles all queries with the utmost professionalism.
Inclave Casino is more than a gambling establishment; it’s an institution that upholds the heritage of traditional gaming while forging a path for future innovations. It brings together diverse groups of people, all united by their love for gaming, in an environment that is luxurious, inclusive, and progressive.
Does Inclave Casino accept crypto?
Inclave Casino does not currently accept wagers in cryptocurrencies. If you’d like to gamble in crypto, you should use an online crypto casino, such as Wolf Bet.
Summary
In summary, Inclave Casino isn’t just about winning or losing; it’s about the experience of the game, the thrill of the gamble, and the joy of shared entertainment. It’s a shining example of how the classic and the modern can coexist, creating a rich and vibrant tapestry that satisfies all senses. It’s not just a casino; it’s a destination – a place where people come for the games but stay for the atmosphere, the service, and the total experience.
Bitcoin prices were unaffected by announcements from a Federal Reserve body, remaining roughly around $23,000 following the news, reports revealed.
The Federal Reserve’s Federal Open Market Committee (FOMC) announced on Wednesday it had increased federal fund rates 25 basis points to roughly 4.5 percent to 4.75 percent.
In its statement, the FOMC said that the US received “modest growth in spending and production,” along with low unemployment and high job gains.
It also cited the ongoing Russo-Ukrainian war, which caused “tremendous human and economic hardship” and “elevated global uncertainty.”
From Inflation to Elation
The Committee also aims to return inflation to 2 percent in the long term by raising federal fund rates, with additional increases in the future.
It explained, stating,
“In determining the extent of future increases in the target range, the Committee will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments.
According to analysts, the Federal Reserve could increase basis point rates in 25 point increments once or twice before ceasing measures.
Despite this, Bitcoin remained high amid the news, with Twitter users commenting on the matter. One person stated that crypto had made a “new high” after the meeting.
The user added: “Bitcoin, though, has been stronger than we expected, as it didn’t go down to 22200. After consolidating for a while, it looks ready to go higher.”
The news comes as Bitcoin maintains an upswing in value after recouping from a bearish 2022 market. In January, the cryptocurrency surpassed $23,000 multiple times, indicating a slow return to bullish markets.
Los Angeles, California, 22nd November, 2022, Chainwire
Salil Shah joins DeSo after holding exec roles at Meta and Pinterest, most recently leading global go-to-market for Meta Fintech
Key Takeaways
- Salil Shah, former Meta, and Pinterest executive, has joined DeSo, a blockchain platform that has raised $200 million from Sequoia, Andreessen Horowitz, CAA, and Coinbase.
- The announcement comes as DeSo has experienced two consecutive months of over 120% Month over Month growth, particularly as consumers seek open, decentralized alternatives with the turmoil at Twitter
- Shah’s motivation for joining stems from his belief that DeSo has the potential to transform the creator economy.
DeSo is the first layer-1 blockchain capable of supporting content-rich social applications, and has raised over $200 million in funding from Sequoia, Andreesen Horowitz, Coinbase, CAA, and others. DeSo is well positioned to power next-generation web3 apps that give more ownership, transparency, and control to both creators and their fans.
After years spent building the category-defining technology underlying the platform, DeSo has now hired Salil Shah to scale the business. Shah has deep experience in business development, go-to-market, and partner ecosystems, most recently leading global go-to-market for Meta’s Fintech group.
With Shah’s expertise, DeSo is primed to accelerate its mission to re-imagine the creator economy, and expand the scope of web3 from purely financial applications to creator-focused social applications.
“Empowering and supporting creators is a mission I’m deeply passionate about,” Shah says. Shah adds that DeSo has built “the first blockchain platform that allows social content to be stored directly on-chain, giving creators more ownership, the ability to engage with fans across platforms, and the opportunity to build direct financial relationships with fans.”
“I’m excited to join this incredible team and partner with Nader to build the business as the industry moves towards the next phase of the creator internet, powered by web3,” he continues.
Shah will complement DeSo founder Nader Al-Naji’s deep technical expertise with his extensive business experience as a tech executive and strategy leader.
Leading an Emerging Category
Shah joins as the emerging category of “decentralized social” is showing signs of early growth, with DeSo recently experiencing 120% month-over-month growth (following 160% growth the previous month).
“This growth is being driven by DeSo’s ecosystem of hundreds of third-party apps, which are now starting to find retention,” says Al-Naji. For example, Diamond and Desofy have earned creators over $20 million in their early days off of novel monetization primitives like social tipping, social NFTs, and social tokens.
Several promising apps have recently launched on the DeSo platform, including Pearl, a web3 Instagram, NFTz, a decentralized NFT marketplace, and DAODAO, a social Kickstarter-like fundraising tool. And tools like OpenProsper, a social block explorer, provide data and insights into the growing DeSo ecosystem of developers, partners, and users.
“We’re seeing a flywheel start to form,” says Al-Naji. “Now that we have a seed of users and content, developers are building apps like never before, which is growing usage and content even more in a virtuous cycle.”
About DeSo
DeSo is a new layer-1 blockchain built from the ground up to decentralize social media and scale storage-heavy applications to billions of users. The DeSo mission is to decentralize social media the same way Bitcoin and Ethereum decentralized finance.
You can learn more about DeSo and claim your username on deso.com.
Contact
Growth Marketing Lead
Arash Ghaemi
DeSo Foundation
Ash@deso.com