SEC - Page 167

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Coinbase to Introduce Dogecoin Futures Trading, Emphasizing Cryptocurrency’s Leap Beyond Meme Status

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Coinbase has recently underscored the remarkable evolution of Dogecoin, from a meme-inspired currency to a mainstay in the cryptocurrency domain.

This recognition of Dogecoin’s “enduring popularity” is leading the exchange to introduce futures trading for the cryptocurrency.

In its communications with the United States Commodity Futures Trading Commission (CFTC) on March 7, Coinbase Derivatives expressed intentions to unveil cash-settled futures contracts for Dogecoin, along with Litecoin and Bitcoin Cash, aiming for an April 1 launch date.

Highlighting an unconventional path to market expansion, Coinbase mentioned its strategy to leverage the “self-certification” process for these futures contracts, adhering to CFTC’s regulatory framework, without waiting for formal approval.

The company stated, “Coinbase Derivatives […] hereby submits for self-certification its initial listing of the Dogecoin Futures contract to be offered for trading on the Exchange on or after April 1, 2024.”

This move reflects Coinbase’s belief in Dogecoin’s significant transformation and its established role within the crypto industry.

The price of DOGE, in response to these developments, surged by 17%, showcasing its trading value at $0.15.

The decision to list futures contracts for Dogecoin, Litecoin, and Bitcoin Cash sparked varied reactions among market observers and social media commentators.

READ MORE: Analysts Forecast Bitcoin Surge Post-Halving Amid Recent Price Volatility and Increased Institutional Interest

Some analysts perceive this as a strategic attempt by Coinbase to challenge the Securities and Exchange Commission (SEC) in its classification of crypto assets.

Bloomberg exchange-traded fund analyst James Seyffart suggested on X (formerly Twitter) that this could be a maneuver to prevent these cryptocurrencies from being classified as securities, especially those based on the Bitcoin’s proof-of-work consensus mechanism.

Seyffart’s observation points to a broader strategy of influencing how regulatory bodies view crypto assets following the approval of spot Bitcoin ETFs.

Coinbase’s venture into the derivatives market traces back to its 2022 acquisition of FairX, a CFTC-regulated derivatives exchange, aiming to democratize the derivatives trading landscape for its vast retail customer base.

This initiative is part of Coinbase’s broader mission to make derivative markets more accessible and understandable for everyday investors, further cementing its position as a pioneering platform in the cryptocurrency trading arena.


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

Pyth Oracle Goes Live on Merlin Chain

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The Pyth oracle’s integration with Merlin Chain, a Layer 2 solution on Bitcoin that combines ZK-Rollup technology, a decentralized oracle network, and BTC fraud detection modules, marks a significant leap forward. This move underscores Pyth Price Feeds’ position as a critical resource for developers in the burgeoning Bitcoin ecosystem.

“The team is looking forward to join hands with Pyth, a leading oracle, to help build the foundation of Merlin Chain. With the price feeds and market data Pyth provides, we are now ready to welcome the next generation of Bitcoin and DeFi to Merlin Chain,” Jeff, Founder of BitmapTech and Merlin Chain, said.

With Pyth Price Feeds going live on Merlin Chain, developers now have unrestricted access to over 400 real-time data feeds from a vast array of asset classes, enhancing the security and functionality of diverse smart contract applications, including trading, lending, and borrowing platforms. Pyth’s unique pull oracle architecture offers an efficient way for applications to obtain the latest price data, ensuring accuracy and timeliness for end-users.

Merlin Chain stands out as a Layer 2 enhancement for Bitcoin, focusing on enriching Bitcoin’s Layer 1 assets, protocols, and products with advanced technologies. As a branch of Bitmap Tech, Merlin Chain brings significant credibility and innovation to the Bitcoin ecosystem, highlighted by its successful BRC-420 “Blue Box” collection among the Ordinals.

The Pyth Network, known for delivering secure, low-latency financial data, gathers proprietary data from leading exchanges and trading firms, making it a backbone for smart contracts and decentralized applications. In a relatively short span, Pyth has managed to secure over $2 billion in value, now supporting more than $3 billion across numerous markets. With its comprehensive coverage across cryptocurrencies, stocks, ETFs, forex pairs, and commodities, Pyth has become instrumental in powering over $120 billion in trading volume across more than 50 blockchain ecosystems.

Discover the Crypto Intelligence Blockchain Council

Crypto Fees Hiked to Boost State Revenue, Regulates Market with New Licensing Mandate

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The Uzbekistan National Agency for Prospective Projects (NAPP) announced an increase in monthly fees for cryptocurrency market participants on March 19, 2024.

This move revises an initial directive from the Ministry of Justice back in September 2022, aimed at enhancing the financial contributions from the crypto sector to state revenues.

This decision comes after NAPP’s evaluation of the sector’s profitability, leading to a new fee structure affecting crypto exchanges and retailers alike.

Crypto exchanges in Uzbekistan will now incur a monthly fee of 740 basic reference values (BRV), equivalent to about 251.6 million Uzbekistani som ($20,015), a significant hike from the previous 400 BRV or 136 million som ($10,819).

The BRV, a unit used for calculating various financial obligations like taxes and fines, has thus become a more substantial burden for these businesses.

Similarly, the fees for crypto retailers have risen sharply to 185 BRV per month, translating to 62.9 million som ($5,003), up from a mere 20 BRV or about 6.8 million som ($540) previously.

NAPP’s rationale behind these adjustments is to double the revenue from the crypto sector while ensuring these changes do not adversely affect the service providers’ financial health.

READ MORE: SBF’s Legal Team Calls 50-Year Sentence Proposal ‘Medieval’, Advocates for Leniency in High-Profile Crypto Case

The revised fee system is set to be implemented on June 20, giving stakeholders three months to adjust.

This regulatory adjustment follows a Memorandum of Understanding between NAPP and Tether, focusing on fostering blockchain innovations within Uzbekistan, such as stablecoins and digital asset tokenization.

Although the finer details of this partnership remain confidential, Tether has expressed its commitment to working with local authorities to develop a conducive legal and regulatory environment for crypto assets.

Additionally, this development is in line with NAPP’s legal action against Binance for operating without a proper license and failing to settle fines. Uzbekistan mandates that all crypto exchanges operate with a license and house their trading servers within the country.

This policy, enforcing licensed operation of crypto services, was established in 2023, with the first batch of licenses awarded in November 2022.

Prior to this, Uzbekistan had already restricted access to major international crypto exchanges like Binance, FTX, and Huobi over unlicensed activities accusations.


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3AC Co-Founder Kyle Davies Expresses No Regret Over Fund Collapse, Evades Jail With Global Moves

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Kyle Davies, co-founder of the now-defunct crypto hedge fund Three Arrows Capital (3AC), expressed no regret over the billions in investor funds lost due to the company’s bankruptcy.

In a March 19 episode of the Unchained Podcast, Davies maintained that the failure of 3AC and the subsequent backlash did not tarnish his professional reputation.

He stated, “Am I sorry for a company going bankrupt? No. Like, companies go bankrupt all the time,” highlighting his lack of remorse with laughter.

Discussing future endeavors, Davies hinted at advising potential successors on how to better manage a bankruptcy scenario, suggesting a nonchalant approach to the dissolution of his hedge fund.

He also revealed his intention to steer clear of Singapore, fearing possible incarceration, and noted that he has been moving between Europe and Asia, with a recent stay in Portugal.

In April 2023, amidst the fallout, Davies and his partner Su Zhu initiated OPNX, a venture combining bankruptcy claims processing with a crypto exchange.

Davies praised the launch as “very impressive,” asserting his enduring respect within the cryptocurrency community.

However, the venture was short-lived, with OPNX announcing its closure by February 14.

Davies countered claims of non-cooperation with the liquidators, Teneo, overseeing 3AC’s dissolution, describing such allegations as overstated.

He argued that portraying them as uncooperative was a strategic move by the liquidators to reclaim more assets.

READ MORE: Binance Offers Up to $5 Million Reward for Insider Trading Tips Amid Memecoin Listing Controversy

Despite these assertions, Davies and Zhu faced subpoenas via Twitter on January 5, 2023, for evading communication and not sufficiently cooperating with the liquidation process.

In the wake of 3AC’s collapse in 2022, a British Virgin Islands court froze $1.14 billion of Davies and Zhu’s assets.

Teneo has estimated the outstanding debt to 3AC creditors at approximately $3.3 billion and is actively seeking $1.3 billion directly from the co-founders.

This pursuit comes after allegations that Davies and Zhu engaged in excessive borrowing against investor funds post-insolvency.

Adding to their challenges, Singapore’s central bank imposed nine-year prohibition orders against Davies and Zhu in September of the previous year for alleged breaches of the nation’s securities regulations while at the helm of 3AC.


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

CryptoQuant CEO Warns Meme Coin Craze Threatens Crypto Industry’s Integrity Amid SHIB, WIF and BOME Rally

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The recent surge in popularity and value of meme coins such as Shiba Inu (SHIB), Dogwifhat (WIF), and BOME has sparked concerns from Ki Young Ju, CEO of CryptoQuant.

Ju argues that the viral and speculative nature of these cryptocurrencies poses a significant threat to the integrity and advancement of the cryptocurrency sector.

He points out the detrimental effect of these billion-dollar meme coins on legitimate projects that aim to innovate within the industry.

Ju’s frustration stems from the speculative frenzy similar to the initial coin offering (ICO) boom, which ended in substantial losses for many investors.

Ju counters the argument that meme coins might serve as an entry point for newcomers into the crypto space by highlighting the risks associated with their speculative nature.

He draws parallels with the ICO craze of 2018, noting that many projects failed to deliver real value.

READ MORE: Bitcoin Nears $60K Amid Weekend Sell-Off; Market Eyes ETF Resurgence and Futures Gap for Recovery

Ju is particularly critical of the lack of industry leadership advocating for genuine product development, observing a worrying trend towards gambling rather than innovation and the creation of tangible solutions.

Despite some viewing meme coins as an introduction to cryptocurrency, Ju warns of their potential harm, emphasizing the need for leadership in the industry.

He admires figures like Changpeng Zhao, the former CEO of Binance, for their commitment to driving the industry forward with innovative and substantial products.

The discussion also touches on Zhao’s current situation, awaiting a court decision while being restricted from leaving the United States, underscoring the importance of responsible leadership in the cryptocurrency field.

Ju’s commentary reflects a call for a shift in focus towards sustainable development and away from speculative ventures that could undermine the crypto industry’s legitimacy.


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

FOMO BULL CLUB: Revolutionizing Memecoin Launches with a Decentralized Launchpad

Singapore, Singapore, March 26th, 2024, Chainwire

FOMO BULL CLUB, an exclusive, multichain, decentralized launchpad and liquidity hub for memecoins, targets key challenges in their launch process. By creating a launch framework on networks such as Polygon, Solana, Ethereum, Manta Network, and SUI, it removes the risk of rug pulls and guarantees instant utility for newly launched memecoins.

FOMO BULL CLUB has been generating buzz on X, thanks to its highly successful member sale last month, which sold out in just 15 minutes, and its confirmed exchange listings of the $FMBC token on Bitget, Mexc, LBank, and Bitmart.

Without gatekeepers, Member NFT holders are empowered to propose, launch, or relaunch memecoins by contributing liquidity to the launch pool of a memecoin. Upon reaching the launch pool’s threshold, the memecoin is minted, assuring instant liquidity, staking, and farming.

Highlighting its member-centric approach, FMBC announces the launch of the first memecoin, $FUSD – “THE UNSTABLE COIN,” at MEMECON, Lisbon, on May 28th.

About FOMO BULL CLUB

FOMO BULL CLUB is a members-only, decentralized launchpad and liquidity club. It initially supports memecoins on the Polygon network and is set to expand its platform to include Ethereum, Solana, Manta Network, and SUI. Member NFT holders propose and vote on either the launch of new or the re-launch of existing memecoins on FMBC, by contributing to their launch liquidity pools. Launches are fully automated, decentralized, and created with liquidity farming, LPT staking, and LPT farming. This approach grants memecoins launched on FMBC instant utility and maximized sustainability. Once the minimum required for a memecoin launch pool has been staked by members (LPs), the pool is automatically created on a leading DEX like Uniswap and then shared with non-club members of our herd and the general public. Memecoins are immediately distributed to LP’s wallets without any lockups or vesting. Smart contracts are audited, and ownership is renounced with zero possibility of a rug pull.

Users can join the meme coin revolution at https://fomobull.club

Secure your spot in the $FMBC Community Sale: https://fomobull.club/sale

Twitter: https://x.com/fomobullclub

Telegram: https://t.me/fomobullclub

Discord: https://discord.gg/fomobullclub

Contact

FOMO BULL CLUB
fomobullclub@gmail.com

DeMi Platform Announces a Strategic Partnership with BitCluster

Addis Ababa, Ethiopia, March 26th, 2024, Chainwire

DeMi, an innovative tokenized mining platform, has announced a partnership with BitCluster, a leading mining solutions provider, and this is an important step to expanding the capacity for both companies.

DeMi, an innovative tokenized mining platform revolutionizing the industry, has announced a strategic partnership with BitCluster, a leading mining solutions provider. This collaboration means DeMi can scale up multiple times while optimizing energy costs. This will also allow platform users to mine cryptocurrency more effectively since the price of electricity is only $0.049 per kWh.

Equipment power is transformed into DEMI tokens, the process involves the conversion of computational power from mining equipment into DEMI tokens, serving as a tangible representation and confirmation of purchasing a designated hashrate. To begin mining on the platform, users simply need to purchase and stake these tokens. This innovative approach allows users to actively participate in the mining process with ease. This system not only democratizes access to mining by simplifying the entry process but also ensures that participants can directly contribute to and benefit from the network’s security and consensus mechanisms.

At the end of December 2023, BitCluster announced the launch of a 120 MW data center in Ethiopia with a total area of 30 thousand square meters. This amount of power allows them to place over 30 thousand mining machines such as Antminer S21 200Th.

“We considered many options to place our equipment,” Andrey Mashitskiy, DeMi Product Owner said. “And after months of searching, we finally found the ideal solution—the BitCluster facility in Ethiopia. This is a country with a perfect climate: the average daily temperature ranges from 12 to 23 degrees, and there is no dust or heat. The BitCluster data center is located in the capital, Addis Ababa, which is convenient for logistics. And the main reason for this decision was the low electricity price.”

DeMi has already placed more than 500 devices at the new facility with a total capacity of 59 Petahash and plans to further expand mining capabilities at the BitCluster data center in Ethiopia.

For more information about DeMi and their partnership with BitCluster, users can visit here.

About DeMi

DeMi is a tokenized mining platform that enables users to get BTC rewards using DEMI token. By offering a unique mining experience, DeMi allows users to effectively engage in cryptocurrency mining.

About BitCluster

BitCluster is a modern mining solutions provider. BitCluster provides end-to-end solutions for hosting and maintaining high-power computing hardware for users looking to scale their Bitcoin mining capabilities while keeping energy costs at the lowest possible level.

Contact

DeMi Product Owner
Andrey Mashitskiy
DeMi
info@demi.gg

Spectral Launches Syntax, an LLM Enabling Web3 Users to Build Autonomous Agents and Deploy Onchain Products

New York, New York, March 26th, 2024, Chainwire

Syntax takes natural language and converts it into Solidity code, enabling individuals and enterprises to ship production grade smart contracts, arbitrage agents, NFTs, rollups, and more. Syntax marks the manifestation of the Agent Economy in Web3.

Today, Spectral Labs has launched Syntax, a new LLM enabling people to ship agents that automate onchain projects and tasks, thereby manifesting their Web3 product ideas. While still in beta, Syntax’s vision is to create an open onchain Agent Economy, where developers, individuals, and enterprises can for the first time select the agents they would want to delegate their Web3 tasks, projects, and product development to. These projects and products include production grade smart contracts, arbitrage agents, NFTs, rollups, and more.

Scaling web3 engineering efforts and shipping new onchain products is limited by the number of solidity developers, as well as enterprises’ ability to test and ship smart contract code in a fast and effective way without burning through engineering resources. 

Spectral has set out to solve this with its new LLM, Syntax, a development environment designed to manifest Web3 product ideas by converting natural language into Solidity code that can be deployed instantly onchain. For professional developers, Syntax can accelerate and optimize bandwidth by writing large libraries and components. 

Syntax provides an Agentic experience, where users tell Syntax what they want to build, and Syntax writes and deploys the code onchain at the click of a button. Spectral defines an Onchain Agent as a set of instructions and code capable of deploying itself onchain and possessing a dedicated provisioned wallet for doing so. Loosely similar to custom instructions in ChatGPT, Syntax Agents also have their own identity and can autonomously figure out ways to interact with deployment infrastructure.

With Syntax, users can compile, debug, and deploy AI-generated solidity code. Syntax gives users and the industry the ability to quickly test, ship and scale new products, as well as determining the usability and functional relevance of the code generated while also giving them control to quickly edit code snippets. Initially, Spectral’s Onchain Agents will be curated and built by Spectral, but soon every user will be able to create their own Agent and monetize it in future Syntax releases.

“At Spectral, we’re pioneering a future where autonomous Agents redefine what’s possible onchain. With Spectral Syntax, we empower these agents to operate independently, making it simpler for everyone to bring their blockchain ideas to life.” – Sishir Varghese, Founder.

What truly sets Syntax apart is its capability to deploy code directly onchain, executing deployments through Foundry by writing instructions that Foundry can process, including code compilation, onchain deployment, and signing transactions. Syntax is pioneering an accessible onchain Agent Economy, inviting users to select agents tailored for their specific Web3 tasks. Users can either interact with the foundational agent or opt for one of the specialized agents, each adept in distinct tasks and operations—like the Code Forker assistant, ideal for those aiming to fork and customize a codebase. Additionally, users can discern an agent’s expertise and trustworthiness by reviewing its category listing and the popularity reflected through its user engagement.

“Syntax by Spectral is at the forefront of merging AI with web3, pioneering the onchain agent economy and making it easier and more accessible for users to create their own blockchain products,” said Josh Rosenthal, Partner, Polychain

Syntax produces accurate and gas-optimized Solidity code for a variety of prompts ranging from low to medium complexity, and it outperforms baseline models on Spectral’s Solidity evaluation dataset. As Spectral’s modeling efforts continue to evolve, the company expects Syntax to deliver optimized code for increasingly complex problems. These Solidity models are explicitly designed to assist developers in writing optimized, modern, well-tested, and secure code.

About Spectral

Spectral, a pioneer of the agent economy behind Syntax, is at the forefront of integrating AI with blockchain to democratize development in Web3. Our mission is to simplify the creation and deployment of decentralized applications through autonomous Onchain Agents. Syntax, Spectral’s flagship product, translates natural language into Solidity code, enabling both novices and experts to build on the blockchain effortlessly. With a commitment to transparency and user empowerment, Spectral is shaping a future where anyone can participate in the blockchain revolution. Join us in making this vision a reality and explore the potential of autonomous agents with Spectral. For more information, visit https://spectrallabs.xyz/

For more information, users can follow Spectral on Twitter and Discord.

Contact

Spectral Labs
Spectral
info@spectrallabs.xyz

$COOKIE, the Cookie3 MarketingFi Ecosystem Token, will Launch on ChainGPT Pad and Polkastarter

Tallinn, Estonia, March 26th, 2024, Chainwire

This first MarketingFi utility token will launch within the Cookie3 ecosystem. $COOKIE represents digital marketing value passed on to users who drive projects forward instead of on advertising giants like Google or Facebook.

Cookie3, a MarketingFi Protocol and AI Data Layer, has just announced that $COOKIE—the Cookie DAO-powered token, will launch on ChainGPT Pad and Polkastarter in Q2 2024. Using the Cookie3 technological stack, $COOKIE aims to move $366B digital marketing value from advertising giants onto users who bring quality to projects and help them grow. The project is backed by industry’s top names, including Spartan Group (Lead Investor), GSR, Big Brain Holdings, CMT Digital, Hartmann Capital, Jsquare, Orange DAO, and two top launchpads — Polkastarter and ChainGPT, second of which is also the project’s accelerator.

“Cookie3 and its ecosystem token $COOKIE are something the market has not seen yet but has needed for long. This revolutionary approach, which combines AI, DeFi, and marketing with Cookie3’s amazing data processing technology, gives $COOKIE an amazing utility within the Web3 and Web2 digital marketing economy,” said Ilan Rakhmanov, the CEO and Founder of ChainGPT, $COOKIE launchpad, and Cookie3 accelerator. “We were lucky to find this project and be closely involved in Cookie3’s development. We see Cookie3 use cases across all corners of Web3 and its entire user base—from degens through KOLs and businesses. Cookie3 finds ways to unlock marketing value and put it exactly where it needs to be, using $COOKIE as a medium. We are honored to support Cookie3’s journey and awaiting to see $COOKIE in action within the Cookie3 multi-platform ecosystem.”

“We are delighted that $COOKIE will launch on Polkastarter. We have been following Cookie3 for the past two years and are excited that $COOKIE will find its home and multiple utilities across Cookie3 platforms,” said João Leite, the Managing Partner of Polkastarter, $COOKIE launchpad. “Today is the day when MarketingFi has become an even stronger term. I look forward to seeing the Cookie3 vision unfold even further with $COOKIE as the medium and carrier of MarketingFi value.” 

Unlocking $366B value with MarketingFi Protocol and AI Data Layer

Cookie3 is able to push marketing value into its ecosystem and users with the $COOKIE token thanks to its unique technological stack based on propriety off- and on-chain analytics engine and an AI Data Layer. This value exchange is possible due to the unique synergies between the Cookie DAO community with its $COOKIE token impacting the Cookie3 multiplaform ecosystem. The Cookie3 tech enables understanding the user journey from off-chain activities to on-chain conversions and further activity. This way, Cookie3 can determine which users bring value to projects and should be rewarded. At the same time, having used AI to analyze over 15 unique behavioral characteristics, Cookie3 can distinguish between quality users, bots, or Sybil attackers to ensure that rewards go to truly engaged audiences rather than malicious actors trying to take advantage of the Web3 economy.

This technology is prevalent across the Cookie3 three-platform ecosystem, where analytics and AI are integrated to:

  1. Help marketers understand their users better, tailor marketing campaigns, and ensure their marketing budgets are passed on to quality users through Cookie3 Analytics.
  2. Reward creators with airdrops, allocations, and tokens for bringing quality audiences to projects through the Cookie3 Affiliate.
  3. Allow individual users to explore their MarketingFi score based on their off- and on-chain activity. Users can market themselves to projects worth investing in with rewards such as airdrops, exclusive campaigns, or tailored offerings through Cookie3 Score (the platform is set to launch in Q3 2024).

In short, Cookie3 helps businesses find ways to connect with valuable audiences while, at the same time, helping users to market themselves as worth rewarding for further ecosystem growth.

Cookie3 technology has already been trusted by top names in the industry, such as Kyber Swap, Mantle, Polkastarter, Linea, GameSwift, eesee, Insomnia Labs, and over 170 more, who integrated into Cookie3 MarketingFi Protocol.

“Our team has been building the Cookie3 technology for over two years, and our current business traction proves that we are the industry’s most advanced user analytics platform. We have over 600M unique wallets and 9B transactions processed on 16 chains, with over 170 businesses integrated into our proprietary data infrastructure,” said Filip Wielanier, the CEO and Co-Founder of Cookie3. “Today marks a historic breakthrough in the Cookie3 history. The solutions we’ve been developing find utility across three different platforms, designed not only for analytics but also for user acquisition and engagement. We believe that MarketingFi can and will change the value distribution game. We are excited to contribute to this ecosystem with the Cookie3 multiplatform ecosystem, fueled by the $COOKIE token—the future carrier of the MarketingFi value.”

$COOKIE Utility: One token, many platforms

The $COOKIE token will find utility in all parts and corners of the Cookie3 ecosystem—Cookie3 Analytics, Cookie3 Affiliate, and Cookie3 Score—generating rewards for its holders and stakers. Moreover, it will grant governance rights within the Cookie DAO with voting rights on matters relating to its treasury, comprising 8% of the $COOKIE supply. The Cookie3 core team also shared that $COOKIE token holders will often get to decide the future of Cookie3 products, platforms, and the token’s role within the ecosystem, alongside benefiting from exclusive access to token-gated features.

The Cookie3 team has also teased a gamified $COOKIE Airdrop, with more information to be released soon on the Cookie Community platform, which will launch on March 28th.

About Cookie3

Cookie3 pioneers MarketingFi with an AI Data Layer— a transparent marketing economy unlocking value for Web3 users, creators, and businesses, with over 170 dapps such as Kyber Swap, Mantle, Polkastarter, Linea, GameSwift, eesee, and Insomnia Labs already using Cookie3 technology. To realize its mission, Cookie3 is building a set of MarketingFi platforms and Web3 AI marketing solutions that connect projects with the right audiences, creating profitable opportunities for both. Cookie3 uses off- and on-chain analytics alongside a Web3 AI data layer to ensure only valuable user and project interactions benefit from the MarketingFi ecosystem. In an economy where lines between business owners, investors, and consumers are blurred, effective marketing becomes collaborative, and value flows freely between all stakeholders. Backed by top institutional investors such as Spartan Group (Lead Investor), GSR, Big Brain Holdings, CMT Digital, Hartmann Capital, Jsquare, Orange DAO, Polkastarter, and Chain GPT, Cookie3 fills the gap where Web2 marketing comes short.

Users can learn more at cookie3.com

About Cookie DAO

The Cookie DAO is a collective of MarketingFi enthusiasts aiming to bolster decentralization through innovative blockchain solutions. It created the $COOKIE token and injected it into the Cookie3 ecosystem to drive the MarketingFi ethos forward through governance and tokenized support. Anyone can become a member of the Cookie DAO. The sole requirement is to believe in MarketingFi and want to drive the MarketingFi economy forward. Cookie DAO members are encouraged to hold and stake $COOKIE for access to additional rewards and voting rights on matters relating to the Cookie DAO’s treasury and future.

Users can learn more at cookie.community

About ChainGPT

ChainGPT is an advanced AI infrastructure dedicated to developing AI-powered technologies for the Web3, Blockchain, and Crypto space. Our mission is to improve the Web3 space for retail users & startups by developing AI-powered solutions.

Users can learn more at chaingpt.org

About Polkastarter

Polkastarter is the leading early-stage fundraising protocol enabling web3’s most innovative projects to kick-start their journey and grow their communities. Polkastarter allows its users to make research-based decisions to participate in high-potential public sales.

Users can learn more at polkastarter.com

Contact

Chief Marketing Officer
Krystyna Kozak-Kornacka
Cookie3
krystyna@cookie3.co

Hong Kong’s Crypto Landscape Transforms as Boyaa Interactive’s Shares Surge Following $100 Million Cryptocurrency Investment

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Over the last month, Boyaa Interactive, a Hong Kong-based online gaming company, has seen its shares skyrocket by 318% following its decision to diversify investments into cryptocurrencies.

The company announced a $100 million initiative to invest in Bitcoin (BTC), Ether (ETH), and stablecoins such as Tether (USDT) and USD Coin (USDC), allocating $45 million to BTC, $45 million to ETH, and $10 million to stablecoins.

As part of this strategic move, Boyaa Interactive disclosed the purchase of 1,110 Bitcoin at an average price of $41,790 each, 14,855 Ether at approximately $2,777 per unit, and around 8,000,000 units of Tether.

The firm expressed its intention to double down on its crypto investments with an additional $100 million.

This investment comes at a time when Boyaa’s core business, online gaming, continues to perform solidly, generating 100 million yuan ($13.90 million) in revenue and 32.05 million yuan ($4.46 million) in earnings, witnessing growth rates of 6% and 72%, respectively.

The broader context includes a bearish stock market in China, with many firms holding large cash balances and trading below their book values.

The NFT market has shown varying degrees of volatility, illustrated by the floor price of “Nobody,” a collection by legendary director Stephen Chow, which dropped over 70% within a month.

READ MORE: Bitcoin Nears $60K Amid Weekend Sell-Off; Market Eyes ETF Resurgence and Futures Gap for Recovery

Despite promotional efforts, the collection’s trading volume has stagnated after an initial surge.

Similarly, the Bruce Lee Foundation’s NFT collection and Wassie Avatars have experienced dramatic price fluctuations, reflecting the speculative nature of the NFT market despite its recovery from lows in 2020-2021.

Regulatory scrutiny in Hong Kong has increased, with the Securities & Futures Commission (SFC) adding crypto exchange Bybit and its investment products to its investment warning list.

This action underscores the regulatory requirements for operating within the city and the criminal implications of non-compliance.

Concurrently, discussions about a potential spot Bitcoin ETF in Hong Kong hint at a more direct and cost-efficient structure compared to those in the United States, indicating a keen interest in pioneering such financial products in the region.

This period signifies a dynamic phase for Hong Kong’s crypto landscape, marked by significant investments, regulatory developments, and speculative NFT market movements.


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

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