SEC - Page 141

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Tether Boosts Investment in Eastern Europe, Partners with Georgian Crypto Payment Provider CityPay.io

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Stablecoin powerhouse Tether is boosting its investments in Eastern Europe’s cryptocurrency scene through additional funding for the Georgia-based crypto payment provider CityPay.io.

This development was formally announced on May 8, marking a significant step in CityPay.io’s growth and operational scale.

Tether’s investment into CityPay.io isn’t the company’s first; it follows a prior investment made in 2023 when Tether became one of the first stablecoin firms to back the payment platform.

This platform enables users to use cryptocurrencies like Bitcoin to pay for services at various locations, including Wendy’s and Radisson Hotels.

The latest round of investment aims to enhance CityPay.io’s penetration into the Eastern European markets, with a particular focus on countries like Georgia, Armenia, Azerbaijan, Kazakhstan, and Uzbekistan.

As of May 2024, CityPay.io has established over 600 service points in Georgia alone.

The company has ambitious plans to broaden its services to include e-wallet and card solutions within the next two years and is aiming to set up more than 500,000 cryptocurrency payment points across the planned expansion areas.

“Our previous collaboration with CityPay.io yielded exciting results in expanding convenient cryptocurrency use across Georgia,” said Paolo Ardoino, CEO of Tether, emphasizing the positive outcomes of their initial partnership.

He further stated, “With this second investment, we aim to build on those results and drive the adoption of cutting-edge technologies that disrupt traditional payment systems.”

READ MORE: Grayscale Halts Four-Month Outflow Streak with Positive Inflows into Bitcoin ETF

CityPay.io also marked a significant step towards integrating Tether as a payment option on the Polygon network in October 2023.

Additionally, meetings with governmental bodies in Georgia were conducted by CEO Ardoino in September 2023 to discuss expansion plans.

Moreover, Tether has been actively collaborating with the Georgian government since signing a memorandum of understanding in June 2023.

This agreement focuses on developing Bitcoin and peer-to-peer payment infrastructures within Georgia, signaling a robust governmental support for cryptocurrency initiatives.

Georgia’s emergence as a crypto-friendly hub is evident with its welcoming of major cryptocurrency firms like Binance and hosting a significant number of Bitcoin ATMs.

CoinATMRadar indicates that Tbilisi, the capital of Georgia, alone hosts 132 Bitcoin ATMs, highlighting the country’s advanced cryptocurrency infrastructure and its global aspirations in the digital finance arena.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

UK’s FCA Seeks Balanced Crypto Regulation by Merging TradFi and DeFi Approaches

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The UK’s Financial Conduct Authority (FCA) aims to strike a balance in regulating cryptocurrencies by merging the best elements of traditional finance (TradFi) and decentralized finance (DeFi).

This approach is to ensure neither over-regulation nor under-regulation disrupts the growing crypto market.

Matthew Long, the FCA’s director of payments and digital assets, emphasizes the necessity of this strategy for effective regulation during his speech at the FT Crypto and Digital Assets Summit on May 8.

Long stated, “What we’re trying to do is take the best of traditional finance and understand the nuance of the system that we’ve got.”

He elaborates that the regulatory framework should mirror the existing structures in traditional finance but adapt to the unique challenges of cryptocurrencies.

This includes recognizing the global nature of the crypto market which necessitates a responsive regulatory approach.

“The simplest and most straightforward answer is that they [FCA] are trying to take the best of traditional finance, so it’s the same risk, same regulation and not reinvent the wheel,” Long noted, adding: “But we must and we absolutely must respond to the differences in cross border globalization otherwise. So to be frank, it’s a bit of both.”

READ MORE: Sui Network Addresses Token Supply Concerns, Asserts Transparency and Third-Party Oversight

During his discussion, Long pointed out that some regulatory aspects previously considered straightforward by the FCA turned out to be complex, and vice versa, indicating a learning curve in adapting regulatory measures to crypto-specific issues.

Moreover, Long highlighted the existence of risks in both centralized (CeFi) and decentralized finance sectors, stressing that tools for combating issues like money laundering in CeFi could be tailored for the crypto environment.

This is part of a broader FCA initiative to foster a “cleaner, safer, and better” crypto market.

The UK’s increasing involvement in the cryptocurrency space is evidenced by the FCA’s recent activities. Since 2020, the authority has approved 38 out of 300 applications from crypto firms, reflecting its proactive stance in regulating the sector.

Additionally, the FCA has enhanced its capabilities in monitoring and preventing market abuse and illegal crypto advertising.

This underscores the UK’s commitment to establishing a regulated yet thriving crypto economy.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

Grayscale Halts Four-Month Outflow Streak with Positive Inflows into Bitcoin ETF

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Crypto asset manager Grayscale has ended its four-month outflow streak from its spot Bitcoin exchange-traded fund (ETF) with inflows into the Grayscale Bitcoin Trust (GBTC) occurring for two consecutive days.

On average, GBTC experienced a significant outflow of approximately $218 million daily over 78 days, totaling over $17.5 billion since January 11.

This trend reversed on May 3 when GBTC recorded an inflow of $63 million, marking a significant positive shift.

As a result, the overall spot Bitcoin ETF market observed net positive inflows of $378.3 million after a week of losses.

The subsequent inflow recorded on May 6 was $3.9 million, bringing GBTC’s total recent inflows to $66.9 million.

Despite this recent influx, GBTC’s net outflow remains at $17.4 billion.

However, the broader U.S. spot Bitcoin ETFs landscape shows a healthy balance sheet. BlackRock’s iShares Bitcoin Trust leads with the largest overall investment, capturing net inflows of $15.5 billion.

READ MORE: Sui Network Addresses Token Supply Concerns, Asserts Transparency and Third-Party Oversight

Other significant contributors to net inflows include Fidelity Investments’ Fidelity Wise Origin Bitcoin Fund with $8.1 billion, Cathie Wood’s ARK 21Shares Bitcoin ETF with $2.1 billion, and the Bitwise Bitcoin ETF Trust with $1.7 billion.

Collectively, these investments have brought the cumulative flow into the spot Bitcoin ETF market to nearly $11.8 billion as of the latest figures.

The U.S Securities and Exchange Commission (SEC) has delayed its decision on approving or denying spot Ether ETF applications from several providers, including BlackRock, Grayscale, and Invesco Galaxy, pushing decisions to July.

The SEC stated, “The Commission finds that it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein.”

The delay also affects other prospective Ether ETF issuers such as Fidelity, Franklin Templeton, Hashdex, and Ark 21Shares. This decision was aligned with analysts’ expectations.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

Sui Network Addresses Token Supply Concerns, Asserts Transparency and Third-Party Oversight

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The Sui Network recently addressed misconceptions regarding its token supply, rebutting critiques on the distribution and governance of its SUI token.

In a statement posted on X, the layer-1 blockchain asserted the integrity of its tokenomics and highlighted the involvement of reputable third parties in token storage and management.

According to Sui, tokens are released according to a predetermined schedule and are easily accessible to the public.

It emphasized that neither its founders nor the Sui Foundation can control the treasury or tokens allocated to investors, including those in the community reserve.

The Sui Foundation manages the primary wallet housing locked tokens, which are released under specific conditions to support various projects such as Move programming language development, network security enhancements, hackathons, and developer grants.

READ MORE: OpenAI Faces Privacy Complaint Over Chatbot Accuracy Concerns

Addressing concerns raised by Justin Bons from Cyber Capital, who highlighted potential centralization risks due to the team’s token holdings, Sui disputed these claims.

It asserted compliance with legal and regulatory standards overseen by reputable custodial service providers like BitGo, Anchorage, and Coinbase Prime, ensuring transparency and accountability.

Bons, however, challenged Sui to provide evidence demonstrating that founders cannot move or access allocated tokens, arguing that true transparency requires irrefutable proof of secure token holdings.

He cautioned against misrepresenting token status, which could undermine transparency claims.

In a separate development, in September 2023, the Sui Network streamlined Web3 logins for users on its apps, offering zero knowledge login options via platforms like Google, Facebook, and Twitch.

Renowned for its ability to handle high transaction volumes while maintaining low fees since its inception, the network continues to innovate in the realm of blockchain technology.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

Bitfinex CTO Dismisses Hacking Claims as “Fake” amid Data Breach Concerns

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Bitfinex‘s chief technology officer Paolo Ardoino dismissed claims by hacking group Fsociety that it hacked the cryptocurrency exchange’s database and leaked 22,500 customer emails and passwords.

Ardoino labeled the claims as “fake” and stated, “If they had any real information they would have asked a ransom through our bug bounty, customer support ticket, emails, Twitter, etc.

“We couldn’t find any request.” He emphasized that Bitfinex does not store plaintext passwords or 2FA secrets in clear text.

Out of the 22,500 records leaked, only 5,000 matched with Bitfinex users.

Ardoino suggested that the hackers likely obtained the data from other crypto data breaches, noting that many users use the same email and passwords across multiple sites.

A security researcher shared a message suggesting that the hackers might be using the claim to promote a data retrieval hacking tool.

READ MORE: Crypto Analyst Forecasts First Billion Users by 2025, Chart Reveals Path to Mainstream Adoption

According to the researcher, such claims serve as advertisements for the tool, enticing others to purchase it for exploiting companies.

Ardoino reassured users that investigations were ongoing, but no breach had been detected, and all funds remained safe.

This incident isn’t the first time Bitfinex has faced scrutiny over data breaches.

In November 2023, a minor information security incident occurred when one of its customer support agents was hacked, leading to phishing attacks targeting Bitfinex users.

However, Bitfinex stated that little harm resulted from the incident.

In 2016, Bitfinex experienced a major security breach resulting in the loss of 119,576 customers’ Bitcoin, valued at around $70 million at the time, equivalent to approximately $7.6 billion at current prices.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

Bullish Momentum Looms: Bitcoin’s Price Eyeing Upsurge on Inverse Head-and-Shoulders Confirmation

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Bitcoin’s price might witness a bullish reversal, igniting what one crypto trader calls the “next leg up,” should the inverse head-and-shoulders pattern, a well-regarded trading indicator, come into play.

Matthew Hyland, a crypto trader, shared his insights on May 4, suggesting that if Bitcoin doesn’t break through $67.5k directly, a scenario unfolding over the next month aligns with a potential bottom pattern reversal.

The inverse head-and-shoulders pattern, which he referenced, indicates a shift from a downtrend to a bullish phase, signaling increased buyer dominance.

“It would be a great setup to propel the next leg up,” Hyland asserted.

While maintaining Bitcoin’s bullish trend is contingent upon it staying above its short-term holder price of $59,500, noted pseudonymous crypto analyst Willy Woo emphasized to his 1.1 million followers on May 3.

The setup of this pattern emerges as Bitcoin’s price forms three troughs beneath a neckline resistance, with the middle trough (the head) deeper than the left and right shoulders.

Following a slight rebound from the “head” at $58,614 on May 1, if the pattern unfolds as per Hyland’s model, Bitcoin could find support around its second shoulder at $60,000, a critical level.

This projected decline would represent a 5% drop from its current price of $63,350, potentially leading to liquidation of $530 million in long positions, as per CoinGlass data.

READ MORE: Kraken Pro Expands Margin Trading with Shiba Inu Cryptocurrency, Emphasizing Community-Driven Growth

According to Hyland’s analysis, Bitcoin could surpass its current all-time high of $73,800 by June, aligning with increasing buyer interest in the crypto market, as evidenced by the Fear and Greed Index, which has recovered to a “Greed” score of 69 from a recent low of 43, indicating “Fear.”

Some traders anticipate Bitcoin’s price to remain stagnant in the short term, but they don’t perceive this as necessarily bearish.

“The longer the Bitcoin consolidation takes, the higher its price will meet the trendline,” noted pseudonymous crypto trader Titan of Crypto.

Echoing a similar sentiment, pseudonymous trader Daan Crypto Traders shared with his followers on X on May 4 that Bitcoin’s previous cycle all-time highs tend to decelerate price momentum, leading to temporary stalls.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

Dutch Authorities Arrest Suspect in $33 Million ZKasino Crypto Fraud Case, Seize Millions in Assets

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Dutch authorities have apprehended a 26-year-old man in connection with fraudulent activities related to the ZKasino online gambling platform.

The arrest, carried out by the Fiscal Information and Investigation Service (FIOD) on April 29, marks the first significant legal action in this case.

The suspect is currently being investigated for fraud, embezzlement, and money laundering.

FIOD’s investigation led to the seizure of assets worth over 11.4 million euros, including cryptocurrencies, real estate, and luxury vehicles.

These confiscations stem from allegations that ZKasino, which initially appeared as a promising blockchain-based gambling venture, was designed to defraud investors.

Launched on April 20, the platform quickly attracted significant attention, amassing more than 10,515 Ether from over 10,000 contributors.

It promised that these investments would be returned within 30 days.

However, the situation escalated when ZKasino transferred all collected Ether to the Lido staking protocol on the same day of its launch.

READ MORE: Bitcoin Price Plunges Following Lackluster Debut of Hong Kong ETF

Further doubts were raised when the platform altered its website, removing previous assurances that the invested Ether would be returned to the investors.

The case grew more intriguing following a March post on social media platform X, where ZKasino boasted about securing a Series A funding round valued at $350 million.

The purported round included investments from notable entities like crypto exchange MEXC and venture capital firm Big Brain Holdings.

However, Big Brain Holdings later refuted these claims, stating, “which appears to be fraudulent,” indicating that it had never actually invested in ZKasino, although it had been offered tokens on a pro-rata basis.

The controversy surrounding ZKasino underscores the risks associated with cryptocurrency investments, particularly in platforms promising high returns with minimal transparency.

As the investigation continues, with the suspect’s detention extended by 14 days for further inquiry, the crypto community remains vigilant, with many on X speculating about the suspect’s true identity.

This case serves as a critical reminder of the importance of due diligence in the volatile realm of crypto investments.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

Earn Using BetFury Crypto Loans With the Lowest Interest Rate

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BetFury is the 1st iGaming platform that launched competitive Crypto Loans, expanding its crypto ecosystem. Every BetFury user can now create positions with a minimum permissible 50% LTV and the lowest interest rate among the leading CEXs. Uncover how to seamlessly leverage your holdings for instant liquidity without selling!

What are Crypto Loans on BetFury?

BetFury Crypto Loans – a financial service that provides users with access to liquidity in exchange for collateral. You can create fixed-term loan positions with fixed interest rates throughout the loan terms. BetFury offers isolated loan positions meaning each collateral-loan pair position holds its distinct Loan-to-Value (LTV) ratios as well as margin call and liquidation LTV levels. 

Crypto Loans are helpful for those who want to use one currency instead of another without trading. If you’re confident in the growth of Bitcoin but want to keep holding it, you can borrow the most suitable currency and receive profit from this maneuver. 

Leading crypto for borrowing and collateral usage 

BetFury provides a diverse range of assets for loan and collateral, including USDT, BTC, and ETH. Still, the platform does not support the use of the same cryptocurrency for both collateral and loan within a single loan position. That’s why you cannot use BTC as collateral and borrow BTC in the same loan position.

Benefits of Using BetFury Crypto Loans
BetFury became a pioneer by introducing Crypto Loans into the iGaming area. Moreover, it has provided intense competition to well-known platforms. What are the main reasons for BetFury’s uniqueness in a crypto borrowing world?

👉https://betfury.io/

  • The Lowest Interest Rate
    BetFury offers the lowest interest rate among CEXs. Let’s say you borrow USDT for 30 days, your annual interest rate will be only 6.6%. It’s 5-6 times less than on some well-known exchanges. 
  • Creating Positions With LTV < Initial LTV
    You can create a position with a 50% minimum possible LTV. Simply put, when you place a higher collateral amount, you will be much further away from Liquidation.
  • The Gap Between Margin Call LTV & Liquidation LTV
    BetFury has increased the gap between Margin Call LTV and Liquidation LTV to ensure more time for users to react and stabilize the borrowing position.
  • Uniqueness Among Competitors
    The above aspects distinguish BetFury from its direct competitors, such as other online casinos and top centralized exchanges.

How to Earn via BetFury Crypto Loans?

You can utilize the loan for various purposes, such as placing bets, engaging in crypto swaps, depositing into BetFury Earn products, or withdrawing funds from the platform. However, the collateral will remain with BetFury Crypto Loans as security for the return of the digital assets you’ve borrowed.

Here are several key aspects to keep in mind while profitably earning from Crypto Loans: 

  1. Keep track of LTV levels

The BetFury Crypto Loans system is simple and centered around the LTV, which is the ratio (%) of the loan to the collateral amount. As one of the other perks, BetFury has a high initial LTV from 75% to 80%. The main thing when borrowing is the ability to control the LTV. This value has three levels: Initial LTV, Margin Call LTV, and Liquidation LTV.

  1. Earn with borrowed crypto assets on BetFury
    The platform has many gainful crypto products and exclusive offers for BFG holders. If you convert BFG to unique stBFG tokens and join BFG Staking, you will double your passive income and get up to 70% APY. There’s also an earning option via crypto Futures allowing for simple earning in a new entertaining format. Explore these and more options on BetFury!
  2. Avoid Liquidation
    Once you reach a Liquidation LTV, the platform automatically liquidates your collateral assets to repay the loan.  As mentioned above, BetFury has a significant gap between Margin Call LTV and Liquidation LTV, so controlling risks will be much easier. If you follow all the rules and create effective strategies, it’ll be easier to get income using Crypto Loans.

Conclusion

BetFury Crypto Loans is a tool that provides easy access to liquidity and opens a door to the crypto world for any user. Implementation of this feature takes a solid step toward further BetFury’s growth. Who thought the iGaming platform would add competitive crypto borrowing on par with top CEXs? BetFury has once again demonstrated that it could unite crypto enthusiasts and players in one place. Therefore, borrow top currencies and fill your digital balance.

About BetFury

BetFury is an established ecosystem with crypto-earning features, iGaming, and Sports betting. The platform has a global community of 2M+ users for over four years of progress. 

Multiple crypto-staking options are available on BetFury for users who prioritize competitive rewards and leading tokens for earning. When you sign up on BetFury, you receive a Welcome Pack with up to $10 500 Deposit Bonuses and 225 Free Spins.

If you prefer a team approach to gaining rewards, you can join a Referral Program. The referrer gets a $1,500 bonus and a 30% commission for the referral’s activity with an opportunity for reward. You can access all these crypto features directly on the BetFury website or use its Telegram Bot for faster platform access and boosted rewards.

Trader Loses $68 Million in Crypto to Address Poisoning Scam

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A substantial loss struck the cryptocurrency community when an unknown trader mistakenly sent $68 million worth of Wrapped Bitcoin (WBTC) to a scammer’s address in an address-poisoning scam. The loss was disclosed by the on-chain security firm Cyvers, which detailed the incident in a post dated May 3:

“Are we mistaken, or has someone truly lost $68 million worth of $WBTC? Our system has detected another address falling victim to address poisoning, losing 1,155 $WBTC.”

The affected wallet, known as “0x1E,” reportedly lost over 97% of its assets, which were valued at more than $67.8 million, according to analytics provided by CoinStats.

Address poisoning, also referred to as address spoofing, is a type of scam targeting the oversight and rush common among traders during transactions. Scammers deceive traders into sending cryptocurrency to similar-looking but fraudulent addresses.

The crypto industry continues to grapple with trust issues due to frequent scams.

For instance, in a separate incident related to the ZKasino gambling platform, investors were defrauded out of at least $33 million.

Dutch authorities managed to apprehend a suspect associated with this scam on April 29.

Despite the distressing news from ZKasino, April reported a relatively low total of $25.7 million lost to cryptocurrency scams and hacks—the lowest since 2021.

This figure comes from CertiK, an on-chain intelligence firm that began monitoring these incidents that year.

According to their analysis, losses were down by 141% from the previous month, primarily due to a decrease in private key compromises.

Notably, April saw only three such incidents, while March recorded more than 11.

However, CertiK’s recent report does not account for the $33 million lost in the ZKasino scam.

Although the report acknowledges ongoing controversy surrounding ZKasino, it stops short of labeling it a scam.

This stance may change, as indicated by a shift on April 22 when ZKasino moved all 10,515 Ether collected from investors to the Lido staking protocol, raising alarm among stakeholders.

CertiK has indicated that it will revise its findings should ZKasino be officially classified as a fraudulent enterprise.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

Choise.ai Ecosystem Set to Catapult CHO Token Beyond Its 700% Gain: What You Need to Know to Profit Big

Within the domain of small-cap cryptocurrencies, the CHO token has garnered significant attention in recent months. This is primarily due to its remarkable triple-digit growth, which starkly contrasts with the volatility observed in the pre-halving market.

Source: CoinGecko

Commencing in 2024, CHO has exhibited a pronounced upward trajectory, escalating from its February low of $0.0102 to reach a 10-month zenith of $0.1432 – representing an astounding 1,300% surge. Despite a subsequent retracement to stabilize between $0.075 and $0.1, the token currently trades at a 700% premium compared to its value three months prior, with its year-to-date appreciation surpassing 350%.

What We Know About CHO Token

The CHO token made a dramatic entrance onto the cryptocurrency stage in 2022, capturing market interest almost instantaneously. 

  • From January 2022, in the run-up to its token generation event (TGE), multiple sales rounds of CHO on various launchpads were executed with resounding success. 
  • In April, the project team concluded the final sales round by integrating CHO allocations into NFTs. Amid community’s overwhelming optimism, this stage was completed in less than 24 hours, resulting in over $1.6 million in allocations being acquired.
  • Following its launch in June on Uniswap and Raydium the token not only soared over 180% within days but also maintained a consistent upward trajectory throughout the year, defying the adversities of the crypto winter. At that time, CHO was propelled by the trailblazing MetaFi concept of its progenitor platform, Choise.com, which adeptly blended solid CeFi features with lucrative DeFi earning tools within a unified interface. 

This historical resilience against market downturns underscored the asset’s meteoric rise in 2024, particularly as it paralleled the significant dips of Bitcoin between March and May. 

New Wave of Growth Spurred by Vibrant Choise.ai Ecosystem

Market researchers attribute the ascent of the CHO token to the strategic transformation of Choise.com into the pioneering Choise.ai ecosystem. This was facilitated by a merger with Vault, a B2B company specializing in digital and crypto banking solutions, also founded by the same visionary team.

According to Choise.ai founder Vlad Gorbunov, apart from Choise.com and Vault, Choise.ai will comprise a multi-chain DEX protocol, Charism, and an enigmatic AI laboratory. “The ecosystem will transcend borders, bringing innovative, secure, and efficient blockchain solutions to the table, thereby accelerating the mass adoption of these technologies in the B2B sphere,” he said.

Also, Choise.ai is poised to enrich its ecosystem by integrating solutions from external partners and developers. Thus, it will not only showcase a range of financial services, spanning from basic digital asset management to advanced CEX/DEX, AI, and RWA technologies, but also extend Choise.ai’s reach beyond its substantial existing clientele to millions more users.

This fundamental evolution is designed to not only position Choise.ai as a leader in a nascent yet promising enterprise niche by amalgamating the strengths of both Choise.com and Vault – each noted for their sustainability and financial success – but also to significantly enhance the utility of the CHO token.

From Public Interest to Expert Acclaim: Choise.ai Elevates CHO’s Profile

Choise.ai first came to the fore in mid-March, igniting considerable excitement within the project community. Prior to the formal revelation, a cryptic teaser about a revolutionary upgrade to CHO’s tokenomics spurred investors to progressively increase their holdings of the asset, which saw its value rise from $0.027 to $0.076 by April 2, just before the initial update was unveiled.

Over the past month, the Choise.ai team has introduced several major revelations, methodically unveiling its ambitious initiatives and breakthroughs aimed to augment CHO’s functionality, market value, and allure to investors. Even esteemed cryptocurrency traders and analysts have recognized the token’s promising future, considering it an undiscovered jewel with potential for at least tenfold growth and incorporating it into their portfolios.

Therefore, keeping abreast of news related to Choise.ai could prove invaluable for those seeking intelligent portfolio diversification in the midst of post-halving market uncertainty. Presented below are the latest updates from the team, encompassing both completed developments and those on the horizon.

CHO Debuted on Binance Smart Chain and BingX Exchange

On April 19, the team at Choise.ai announced the integration of the CHO token into the Binance Smart Chain (BSC) network, marking a strategic expansion into new blockchain realms. Shortly thereafter, the CHO/USDT trading pair was listed on BingX, one of the largest spot crypto exchanges in the market.

Entering the BSC and appearing on BingX offers several benefits for CHO and its holders: 

  • As noted by Vlad Gorbunov, positioning the token within a broader and more actively engaged user base significantly increases its visibility, availability, and liquidity. The BSC network boasts over 440 million users and sees approximately 200,000 new wallets created daily, complemented by BingX’s 10 million traders and daily transactions amounting to half a billion dollars. 
  • Second, integration with BSC facilitates more fluid and cost-effective money transfers, which are ten times cheaper than those on Ethereum. This promotes seamless wallet creation, enhances the overall user experience, and positions CHO as an attractive option for micro-transactions and everyday crypto operations.
  • Lastly, the affiliation with a renowned and robust network like BSC can enhance the perceived stability and credibility of the CHO token, attracting not only individual investors but also institutional interest.

B2B Revenue Sharing and VLT Token to Boost CHO Staking Income

Choise.ai distinguishes itself through its unwavering commitment to enhancing user empowerment. Vlad Gorbunov repeatedly asserted that despite the company’s foray into B2B markets, its ultimate focus remained on the end-users. “And we have been thinking for a long time how to create value within our B2B division so that it creates additional value to the entire ecosystem,” he emphasized.

Eventually, this user-centric approach resulted in Choise.ai’s pledge to ensure that its steadfast supporters are the foremost beneficiaries of its expansion efforts. This commitment is manifested in the forthcoming revenue-sharing program, designed to allocate up to 20% of Vault’s B2B revenue via a new VLT token to CHO owners through staking. 

VLT will be awarded to each CHO staker, from initial purchasers to future participants. Current holders, however, will have the opportunity to earn enhanced rewards, presenting a compelling incentive for prospective investors to acquire CHO prior to the program’s initiation within the next month or two. The allocation of VLT will vary directly with the quantity of funds staked, with CHO owners eligible for receiving between 20% to 150% of the VLT volume. To preserve the exclusivity of these benefits, the Choise.ai team plans to restrict VLT from both primary and secondary markets in favor of the CHO/VLT community. 

CHO as Centerpiece of Next-Gen Tech for Ultimate Digital Wallet Security  

In their latest announcement, Choise.ai unveiled Tringlr, a hybrid SMPC (secure multiparty computation) technology aimed at revolutionizing crypto wallet security. This solution will combine the robustness of decentralized storage with the user-friendly aspects of centralized platforms, highlighted by superior customization and recovery options, such as:

  • Enabling users to set transaction thresholds for both transfers and withdrawals;
  • Allowing users to transfer funds to a specialized backup wallet in predefined critical situations, with access information securely shared with designated contacts.

Tringlr will introduce an innovative security framework, assigning wallet keys among the user, a centralized custodian, and a secure agent, ensuring that neither centralized nor decentralized components can be compromised individually to prevent unauthorized access and financial losses. Not only it will support safe and seamless crypto-to-fiat operations but also facilitate crypto-to-crypto exchanges across multiple blockchains with the account abstraction technology.

Scheduled for release within the next quarter, Trignlr will have all transactions, transfers, and services underpinned by the CHO token. Secure agents will also be remunerated in CHO. Once integrated into solutions of Choise.ai and its B2B partners, Tringlr will unleash the power of Web3 in finance, helping people regain full control over their money. Per Vlad Gorbunov, “With Tringlr, individuals truly own their funds, reaping all the benefits of various storage systems.”

More Exciting Milestones to Come – Where Will CHO Head Next?

The previously mentioned advancements at Choise.ai are just the beginning. The next significant update from the team is scheduled to emerge publicly within the next week, amid speculations that it will center on the introduction of their proprietary blockchain. Should this prove accurate, the inner blockchain could significantly empower the ecosystem by enabling greater autonomy, increasing the CHO token’s utility, reducing transaction costs, and adding advanced features such as smart contracts. 

Furthermore, by establishing its own blockchain, Choise.ai could position itself at the forefront of innovation in the crypto sector, setting a strong precedent for future growth and diversification of its services. This enhancement would likely boost investor confidence and attract a broader user base, thus driving up the demand and value of CHO in the market. Despite the token currently trading well below its historical peak of $1.38, it presents substantial potential for growth, with significant resistance levels identified at $0.1086 and $0.1233.

Given that the unveiling of Choise.ai precipitated a nearly 96% surge in CHO’s value within a few days, it remains plausible that the token will not only surpass the formidable resistance at $0.1543 but also revisit its prior apex. This scenario would offer investors the opportunity to significantly amplify their investments in the near term.

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