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Ether ETFs See Initial Outflows, But Net Inflows Signal Positive Turn

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The launch of new Ether exchange-traded funds (ETFs) faced significant challenges, with nearly $750 million flowing out of these funds over four of the five initial trading days.

However, on July 30, the trend shifted as net inflows across all nine spot Ether ETFs reached $33.6 million, marking the first day of positive flows since the launch.

According to Nansen’s data, this trend differs significantly from the debut of Bitcoin ETFs, highlighting distinct regulatory conditions.

On July 30, Bitwise surpassed BlackRock in trading volume, aided by Bitwise’s decision to waive its 0.2% fee for the first six months to encourage inflows.

However, as of July 31, BlackRock regained its lead in trading volume, accounting for 5.59% of assets under management (AUM).

Regulatory scrutiny has played a crucial role in the development of Ether ETFs.

The U.S. Securities and Exchange Commission (SEC) has previously raised concerns about the staking aspects of Ethereum’s proof-of-stake (PoS) consensus mechanism.

Consensys addressed these concerns on March 31, asserting that Ethereum’s PoS mechanism “meets and even exceeds the security of Bitcoin’s proof-of-work (PoW),” which the SEC has already approved for trading.

READ MORE: Kamala Harris Considering Michigan Senator Gary Peters as Potential 2024 Running Mate, Sources Say

Despite the regulatory hurdles, there is a notable divide in investor interest in crypto ETFs.

On July 25, BlackRock indicated that client interest is primarily concentrated on Bitcoin and Ethereum ETFs.

At the Bitcoin 2024 conference, Robert Mitchnick, BlackRock’s head of digital assets, noted that while interest in Ethereum exists, it diminishes significantly beyond BTC and ETH products.

On July 18, Bitwise’s chief investment officer, Matt Hougan, expressed optimism about the future impact of U.S. spot Ether ETFs on the asset’s price.

He acknowledged potential volatility in the initial weeks, especially as the Grayscale Ethereum Trust transitions to an exchange-traded product (ETP), but predicted new highs for Ether by the end of 2024.

Hougan’s optimism is based on Ethereum’s widespread use, the forced sell-offs by BTC miners, and the substantial portion of ETH (around 28%) locked away through staking.

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

German Kaplun: What Gazprom Trader and FSB Contractor Does in London?

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,

  1. 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.

Bitcoin Struggles to Break $70K as Traders Eye Lower Highs and Seller Resistance

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Bitcoin‘s recent price movements have been characterized by a pattern of lower highs, with attempts to reach all-time highs being consistently thwarted by sellers.

This pattern has caught the attention of traders, who are monitoring the market closely.

Data from Cointelegraph Markets Pro and TradingView indicates that the $70,000 mark has been a significant resistance level for Bitcoin’s price rebound in July.

Despite hopes among Bitcoin bulls for a return to the $73,800 all-time high reached in March, sellers have kept the market in check.

Traders are now noting this repeated phenomenon, which has resulted in Bitcoin’s price being pushed down within a five-month trading range.

Daan Crypto Trades, a popular trader, highlighted the abundance of liquidity above $70,000, suggesting that stop losses and liquidation levels from short positions are clustered there.

In a post on X on July 30, he noted, “Bitcoin With a couple of lower highs in close proximity of each other. Likely for a lot of liquidity to sit above these levels in the form of stop losses/liquidation levels from shorts.”

READ MORE: SEC Approves Grayscale’s New BTC Mini Trust ETF for NYSE Listing, Introducing Lower Fees and Tax Advantages for Shareholder

Daan Crypto Trades identified $72,000 as a critical level for bulls to surpass, and mentioned potential buy-liquidity below the current price.

According to analysis, if BTC/USD falls below $64,000, this liquidity could become significant.

He predicted, “Seeing it’s also at all time high, I think once we take the June 7th high we’ll break all.” He also pointed out support around $63,000-$63,500, noting that “we got some wicks around $63K-$63.5K which likely got some long stops below.”

Josh Rager, another trader and analyst, expressed disinterest in trading without a clear breakout, stating, “Not much has changed here for BTC… Get a daily close higher and I’ll be interested again.”

Pseudonymous trader Horse on X also questioned the strength of Bitcoin’s recent rise to $70,000, pointing out a lack of spot buyer interest and suggesting that the movement was driven by open interest rather than actual price increases.

He commented, “Market depth has shifted unfavorably across the board… This could just mean the ride upward is a bit more melty and grindy before things get slippery higher.”

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

Grayscale Launches Bitcoin Mini Trust ETF on NYSE Arca, Expanding Bitcoin Investment Accessibility

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American cryptocurrency investment firm Grayscale has introduced a new investment product, the Grayscale Bitcoin Mini Trust, as a “spin-off” of its existing Grayscale Bitcoin Trust ETF (GBTC).

This new product started trading on the NYSE Arca electronic securities exchange at 8 am UTC on July 31.

The Grayscale Bitcoin Mini Trust is an extension of the spot Bitcoin ETF that Grayscale launched in January 2024, following approval from the United States Securities and Exchange Commission.

The new trust is listed under the ticker “BTC” and is designed to offer investors exposure to Bitcoin.

Grayscale explained that the Mini Trust was created by reallocating 10% of the Bitcoin held by GBTC to the new trust, a process described as involving innovative mechanics of initial seeding.

This spot Bitcoin ETP begins trading with a net asset value per share of $5.84 and $1.7 billion in assets under management as of July 30.

READ MORE: Kamala Harris Considering Michigan Senator Gary Peters as Potential 2024 Running Mate, Sources Say

Notably, the Grayscale Bitcoin Mini Trust is not registered under the Investment Company Act of 1940, differentiating it from most mutual funds.

The firm clarified: “BTC’s distribution event is colloquially known as a ‘spin-off,’ and is a corporate action that is not expected to be a taxable event for GBTC nor any beneficial owner of GBTC shares as of the previously announced record date of July 30, 2024.

Investors are encouraged to consult a tax advisor for related tax guidance.”

David LaValle, Grayscale’s head of ETFs, stated that the Grayscale Bitcoin Mini Trust aims to lower the barrier to accessing Bitcoin within an SEC-regulated investment framework.

John Hoffman, Grayscale’s head of strategic partnerships, noted that this is the first “mini” Bitcoin ETP launched in the US, emphasizing its liquidity, diverse shareholder base, and accessible share price.

He said, “BTC is one of the most efficient tools for investors and financial professionals seeking to add low-cost, long-term exposure to Bitcoin to their investment accounts.”

The Grayscale Bitcoin Mini Trust has a management fee of 0.15%, with additional brokerage fees and other expenses potentially applying.

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

Polymarket Surpasses $1 Billion in Trading Volume, Driven by U.S. Election Betting Surge

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Polymarket, a prominent crypto betting platform, has exceeded $1 billion in trading volume, with a notable surge in activity over the past month.

According to Dune Analytics, Polymarket saw $343 million in betting volume by July 30, up from $111 million in June and $63 million in May.

The primary driver behind this spike in activity has been intense speculation surrounding the upcoming United States presidential election.

As of now, over $429 million has been wagered on the outcome of the election set for November 4.

Former President Donald Trump maintains a strong lead with 60% odds, while Vice President Kamala Harris has seen her odds improve significantly, moving from a 1% chance to 38% following President Biden’s unexpected withdrawal from the race.

Polymarket, while mainly used for betting on political outcomes, also offers markets on various topics, including cryptocurrency, sports, business events, and recently, the 2024 Olympic Games.

READ MORE: Bitcoin Stabilizes Ahead of Critical Weekly Close Amid Presidential Candidates’ Crypto Plans

On May 14, Polymarket secured $70 million in a Series B funding round led by Peter Thiel’s Founder Fund, with participation from Ethereum co-founder Vitalik Buterin.

This funding round has bolstered the platform’s growth and expansion.

In an effort to streamline user access, especially for those outside the cryptocurrency community, Polymarket partnered with payments platform MoonPay on July 24.

This partnership allows users to make deposits using debit and credit cards, simplifying the onboarding process.

Further capitalizing on the growing interest in U.S. political betting markets, Polymarket enlisted election analyst and statistician Nate Silver as an adviser on July 16.

Despite its focus on U.S. events, Polymarket is not available to American users.

The platform continues to thrive as a leading destination for speculative betting, appealing to a global audience interested in a wide range of prediction markets.

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

Ethernity Launches the First Entertainment-Focused Layer 2 Chain on Optimism’s Superchain

Los Angeles, United States, July 31st, 2024, Chainwire

Ethernity, a pioneer in blockchain entertainment technology, announces the launch of its testnet for Ethernity Chain, a Layer 2 solution purpose-built for Fortune 500 entertainment brands. This launch positions Ethernity Chain as the Entertainment Layer within Optimism’s Superchain ecosystem, joining industry leaders such as Coinbase’s ‘Base’, Worldcoin, Zora and Camp Network. The Superchain is a network of chains that share a common tech stack, Optimism’s OP Stack, and contribute protocol fees back to the Optimism Collective.

Ethernity Chain is uniquely designed to address the challenges faced by the global entertainment industry in adopting blockchain technology, packed with consumer-first infrastructure that harnesses all the benefits of web3 abstracting away the complexities. Enhanced by AI-powered Digital Rights Management (DRM), Ethernity Chain ensures robust IP protection, crucial for safeguarding users’ on-chain assets. Ethernity launches its testnet on Optimism’s Superchain – a unified network of chains with shared liquidity, security, communication, governance tapping into a vibrant ecosystem counting over 20 chains, 800+ Apps, and $16B TVL, leveraging Optimism’s OP Stack, deployed and hosted by Gelato RaaS.

“By joining the Superchain, Ethernity becomes part of a community of builders dedicated to scaling Ethereum and giving back to the ecosystem,” said Urv Goel, VP and Head of Global Business Development at Optimism Unlimited. “We look forward to supporting Ethernity as they continue to innovate at the intersection of Web3 and entertainment.”

The Ethernity Layer 2 testnet is now live, empowering developers to explore, build, test, their Applications ahead of the mainnet launch. Ethernity is actively onboarding products into its ecosystem and a number of entertainment applications like games, NFTs, RWA collectibles and interactive media projects have already partnered with Ethernity, with announcements of their launches lined up in the next few weeks.

“Joining the Superchain ecosystem with the launch of Ethernity Chain marks a significant milestone for us,” said Marcelo Pham, Co-Founder and Chief Engineer of Ethernity. “Our goal is to bridge the gap between traditional entertainment and blockchain technology, providing a platform where major brands can thrive and innovate.”

Ethernity Chain is supported by a network of partners committed to delivering top-tier tooling and infrastructure for developers. Ethernity Layer 2 is deployed and managed on Gelato RaaS Platform. In addition to chain infrastructure, Gelato is set to service the new Layer 2 with its suite of Web3 Cloud Services enabling zero gas UX, connect Ethernity Apps to any web2 API and bring verified onchain randomness for fair onchain sweepstakes and dynamic NFT creation. Further 3rd party infrastructure integrations will be announced soon covering everything from social logins for easy access, credit card payments, bridges, indexers and more with an aim to launch on mainnet with use-case specific developer tooling enabling entertainment brands onboard the next wave of mainstream users.

“The entertainment industry is ripe for disruption by blockchain technology, and Gelato RaaS is proud to support Ethernity’s vision coming to life” said Luis Schliesske, co-founder of Gelato. “Our Rollup-as-a-Service platform and our suite of native integrations ensure that Ethernity can focus on building and scaling their products, while we handle the underlying technical complexities.”

To further support the developer community, Ethernity will soon launch a Grant Program, providing funding and resources to build on the Ethernity L2. This program will offer marketing, business development, technical support, and investor connections, ensuring developers have the tools they need to succeed.

The launch of the Ethernity testnet follows the success of Ethernity’s initiatives in bringing renowned entertainment icons like Lionel Messi and Shaquille O’Neal onto the blockchain. Ethernity Chain aims to continue this legacy by creating a robust and scalable environment for the next generation of entertainment.

For more information about Ethernity and to join the testnet, users can visit www.ethernity.io.

About Ethernity

Ethernity is an Ethereum Layer 2 solution designed specifically for global entertainment brands. It features built-in AI-powered security and Digital Rights Management (DRM) to protect intellectual property on-chain. Leveraging its robust infrastructure and partnerships, Ethernity is set to become the premier web3 entertainment ecosystem, providing a secure, eco-friendly, and intuitive platform for the next generation of entertainment and enterprise products.

For more information, users can visit Ethernity’s: Official Website | Telegram | Twitter

About Optimism

Optimism is a project dedicated to scaling Ethereum’s technology and expanding its ability to coordinate people from across the world to build effective, decentralized power structures. The Optimism Collective builds best-in-class software for running L2 blockchains and aims to address key governance and economic challenges in the wider crypto ecosystem. The Optimism Collective is also committed to building a sustainable ecosystem through Retroactive Public Goods Funding. By rewarding the impactful projects, Optimism is scaling Ethereum’s present to provide funding for its future.

For more information, users can visit Optimism’s: Official Website | Twitter

About Gelato

Gelato is an all-in-one Ethereum Rollup as a Service Platform built without limits. Designed to be super-fast, incredibly secure, and infinitely scalable, Gelato rollups allow anyone to build and deploy their fully serviced Layer 2 chains at a pace natively integrated with Web3’s favorite tools and services launching a production-ready web3 development environment from the Genesis block.

For more information, users can visit Gelato’s: Official Website | Telegram | Twitter

Contact

CMO
James Aitken
Ethernity Chain
james@ethernity.io

Venom Continues Global Expansion with Listing on Coins.ph

Manila, Philippines, July 31st, 2024, Chainwire

Venom Foundation is thrilled to announce that $VENOM is now listed on Coins.ph, the leading crypto platform in the Philippines with over 18 million users. This strategic move represents the next significant step in Venom’s global expansion efforts, particularly into the dynamic Southeast Asian market.

Key Highlights

Expanding Reach in Southeast Asia: Coins.ph provides a robust platform for $VENOM, offering increased accessibility to a vast and engaged user base. With over 18 million users, Coins.ph is instrumental in the adoption and exposure of crypto in the region, making it an ideal partner for Venom’s continued expansion.

Enhanced Liquidity and Market Presence: Listing $VENOM on Coins.ph will enhance the liquidity and market presence of the token. Filipino users will now have the opportunity to trade $VENOM easily, benefiting from the seamless and user-friendly experience that Coins.ph is known for. This listing not only broadens $VENOM’s availability but also reinforces Venom’s commitment to making blockchain technology accessible to everyone.

Increasing Accessibility in the Philippine Market: As the largest crypto exchange licensed by the central bank in the Philippines, Coins.ph plays a crucial role in the local blockchain ecosystem. Listing $VENOM on Coins.ph enhances the accessibility of our token, allowing more users to easily trade and interact with the project. 

Strategic Alignment with Global Expansion: This listing aligns with Venom’s strategic goal of global expansion, particularly into Southeast Asia. By partnering with established and reputable exchanges like Coins.ph, Venom is poised to extend its reach and influence across key markets worldwide. The Philippines, with its dynamic and rapidly growing crypto community, represents a critical market for Venom’s international growth strategy.

Leadership Perspective

Jen Bilango, Country Manager – Philippines at Coins.ph, expressed enthusiasm for the partnership: “At Coins.ph, we are excited to announce the listing of the VENOM token on our platform. This aligns with our mission to drive financial inclusion and empower our 18 million users with innovative blockchain technology. We look forward to helping VENOM grow its presence in the Philippines and supporting its integration into global financial structures.”

Christopher Louis Tsu, CEO of Venom Foundation, commented on the new listing: “Listing $VENOM on Coins.ph is a strategic step in our global expansion strategy into Southeast Asia. Coins.ph’s extensive user base and reputation in the Philippines make it an excellent partner for Venom. This listing not only enhances the accessibility of $VENOM but also strengthens our presence in the vibrant Southeast Asian crypto market. We are excited to bring Venom to a wider audience and look forward to furthering our mission of global blockchain adoption.”

About Coins.ph

Launched in 2014, Coins.ph is the most established crypto brand in The Philippines and has gained the trust of more than 16 million users. Through the easy-to-use mobile app, users can buy and sell a variety of different cryptocurrencies and access a wide range of financial services.

Coins.ph is fully regulated by the Bangko Sentral ng Pilipinas (BSP) and is the first ever crypto-based company in Asia to hold both Virtual Currency and Electronic Money Issuer licenses from a central bank.

To learn more, uses can visit https://coins.ph

About Venom Foundation

Venom is a cutting-edge layer-0 and layer-1 network, seamlessly integrating with other independent networks through innovative Mesh technology. Anchored by a masterchain for overall state and consensus management, Venom supports unlimited autonomous workchains for user accounts, smart contracts, and dApps. Mesh technology optimizes inter-chain communication, ensuring speed and scalability. With rapid finality, comprehensive security, stability, and user-friendly interfaces, Venom is ideal for hosting CBDCs and large-scale platforms.

For more information, users can visit https://venom.foundation

Contact

Venom Foundation
media@venom.network

Kamala Harris Considering Michigan Senator Gary Peters as Potential 2024 Running Mate, Sources Say

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Kamala Harris is reportedly considering Michigan Senator Gary Peters as her running mate for the 2024 presidential election, according to a recent article from Axios.

The suggestion to include Peters on the ticket is primarily driven by labor unions, who believe his addition could boost Harris’s appeal in the crucial battleground state of Michigan.

Axios reports that Peters is open to the idea of joining Harris as her vice-presidential candidate and is currently seeking support from fellow Democrats to bolster his position.

Gary Peters has a notable stance on cryptocurrency. Stand With Crypto, a nonprofit political advocacy group, describes him as “strongly against crypto.”

The group highlights his co-sponsorship of the Digital Asset Money Laundering Act in 2023, aimed at preventing the use of cryptocurrencies in financing terrorism.

This legislation sought to restrict the use of digital assets in such activities, with Peters writing to National Security Advisor Jake Sullivan: “Given the clear and present danger posed by the financing of these and other militant organizations, we ask the Administration to provide additional details on its plan to prevent the use of crypto for the financing of terrorism.”

READ MORE: Trump Vows to Make U.S. ‘Crypto Capital of the World’ if Elected; Promises Bold Bitcoin Policies at Conference

Despite his tough stance on crypto, Peters has shown some flexibility.

He supported the repeal of SAB-121, which would have required banks holding digital assets for customers to record these as liabilities on their balance sheets.

In contrast, Kamala Harris has remained largely silent on her policy direction for digital assets under a potential administration.

However, there are differing views on her approach. Entrepreneur Mark Cuban suggests Harris is “far more open” to business and innovation than is commonly believed, while Riot Platforms CEO Jason Les is skeptical that she would diverge significantly from the Biden administration’s policies.

Adding to the discourse, some Congressional Democrats have urged Harris to shift from the party’s perceived hostility toward cryptocurrencies and engage in dialogue with the digital asset industry.

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

The Best Crypto PR and Marketing Agencies in 2024

The emergence of crypto and blockchain technology to its present degree of worldwide acceptability and attention is mainly due to the work of crypto PR and marketing agencies. In 2024, these agencies have exhibited their ability to elevate projects from invisibility to popularity, implementing a wide range of tailored techniques.

Notably, Crypto PR and marketing agencies stand out for their thorough knowledge of the crypto ecosystem and their ability to create multifaceted campaigns that appeal to both the general public and industry insiders.

In general, they ensure proper company promotion using influencer marketing and community development, arranging targeted sponsored publications, and obtaining organic media coverage in top-tier media outlets. Hence, their knowledge goes beyond simple visibility; they are adept at creating a sense of credibility and stimulating significant interaction in the crypto niche.

This article will consider the top crypto PR and marketing agencies in 2024 and how they help projects gain proper paid and organic visibility.

Market Across

Market Across is one of the most well-established and reputable PR agencies in the crypto and Web 3.0 space. They have worked with an impressive array of clients, including Polkadot, Binance and eToro, and they offer a free consultation to all companies interested in using their marketing services.

Aside from offering press release distribution and earned media coverage, Market Across has several other services which are ideal for crypto projects. These other services include search engine optimization, content distribution and reputation management.

You can reach out to Market Across via Telegram or email to discuss your marketing needs.

News Coverage Agency

News Coverage Agency understands the dynamic nature of the digital landscape, especially within rapidly evolving sectors like Crypto, Blockchain, AI, Gaming, and NFTs. The team, made of seasoned professionals, ensures their clients’ brand messages reach the right audience through precise Press Release distribution, strategic Guest posting, impactful Organic news coverage, well-placed Sponsored content, or compelling interview publications.

Their expertise in search engine optimization (SEO) and data analytics enables them to track performance meticulously, refine strategies in real-time, and deliver measurable results. Moreover, the company’s commitment to transparency and client collaboration ensures that each campaign is aligned with its client’s business goals and brand vision.

LKI Consulting

LKI Consulting is an award-winning Web3 Marketing & Design Agency. In crypto since 2016, LKI worked with 252+ projects, including Binance, Waves, MELD, io.net, Raiser, and Playbux. They manage aggressive campaigns to help crypto projects grow the community before TGE and acquire users after the launch.

LKI Consulting’s expertise is in marketing strategy, product advisory, Twitter (X) growth, community management, growth hacking, KOLs management, crypto ads management, and design. In particular, they specialize in Web3 marketing for infrastructure, DeFi, and gaming projects. LKI Consulting presents itself as a data-driven Agency focused on hitting ambitious KPIs such as TVL growth, number of FTDs, downloads, unique users, and community members.

The Opinion

The Opinion is a UK-based strategic PR & marketing agency specialising in Web 3.0 and emerging tech. The company was founded by Dana Kachan, a blockchain marketing leader with an outstanding track record and author of viral business articles in big media such as Entrepreneur, Yahoo Finance, and The Economist. 

The Opinion has established a reputation as a reliable marketing partner thanks to unparalleled results delivered for their clients, such as a $5.5M NFT sale, growth hacking campaigns with 3,566% returns on investment (ROI), successful token launches for projects, and many others. What sets Opinion PR apart from competitors is its unique marketing strategies, which have proved to be highly efficient for dozens of blockchain and gaming projects to date. 

ICL Comms 

ICL agency stands at the forefront of tech communications, offering innovative strategies for companies at every growth stage. The agency’s approach is characterized by creativity, high cost/value efficiency, flexibility and commitment to results, making it a preferred partner for Web3, AI and Music Tech projects. ICL offers a comprehensive suite of services, including Media and Kol Relations, Press Release Distribution, Crisis Communications and Personal Brand, Display Advertising and Community Growth. 

Since its inception in 2018, ICL has produced thousands of articles featuring stories for industry leaders like Animoca Brands, Polygon, Gavin Wood, Blockchain.com, Wirex, Gate.io and early-stage startups. Free PR consultation is available for tech founders on the website.

CTRL-PR

CTRL-PR is a full-service success-based PR firm based in Berlin, offering effective and affordable media and public relations services tailored to your needs. They prioritize the success of every campaign first over financial commitment. Their expertise spans tech PR, crypto PR, and success-based PR, making them a trusted Crypto PR agency for your specialized requirements. 

CTRL-PR doesn’t just promise outcomes; it delivers them. Their narrative-shaping prowess and seamless communication distinguish them from others. With rapid turnarounds, cost-effectiveness, and unmatched flexibility, they are established as the go-to Tech PR agency and Web3 (blockchain and cryptocurrencies). Everyone would experience a paradigm shift with CTRL-PR, where success-based campaigns aren’t just strived for but secured.

KAP Digital

KAP Digital, a Crypto marketing agency or, as its tagline, Not Just ANOTHER Crypto Marketing Agency, has a seasoned bunch of degen natives that powerhouse public launches and make them listings hyped to the moon.

No website, no active brand position, actions speaking more than words, with a team of over 1000+ individuals spread across the globe. Providing social media, graphics, KOL support, PR assistance and, best of all, the right hype picking on catchy narratives. The only way to reach them is through TG. A team full of Degens, positivity and always aiming for the moon! Chat with KAP now and dive into deep crypto. 

PolyGrowth

Specializing in communications and PR, PolyGrowth is a success-based agency that is known for managing campaigns of big ticket clients such as Gate.io, Dusk Network, and Verasity. Founded in 2018, PolyGrowth has a solid track record and an outstanding network of journalists, podcasts, and KOLs.

You can request case studies and custom proposal by reaching out to PolyGrowth here. 

In Summary

The top 2024 crypto PR and marketing agencies have established themselves as essential collaborators for projects aiming to create a long-lasting influence in the blockchain space. Their ability to customize campaigns to fit different budgets and their track record of getting publicity in prominent media channels make them the preferred option for both new and established firms in the cryptocurrency field.

As the sector evolves, these firms remain at the forefront, continually modifying their methods to guarantee that their clients keep up with the quick developments and stay ahead of the curve, cementing their reputations as genuine pioneers in the crypto PR and marketing space.

Why Do We Need an RWA Tokenized Lending Blockchain Protocol?

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Real-world asset tokenization is taking the world by storm. A few years ago, trading rights to real assets on blockchain was nothing more than an amusing idea. Today, the largest investment funds in the world are fighting tooth and nail over the leadership in asset tokenization. This topic is enormous, so today, we will focus on one specific aspect – using RWA tokens to get financing and the necessary infrastructure to facilitate it.

What is RWA tokenization?

Real-world asset tokenization is the representing property rights to various assets, such as real estate, stocks, commodities and so on, in the form of digital blockchain-based tokens. 

Source: Outlier Ventures

Tokenization reduces the entry threshold for purchasing assets, allows for faster and more efficient transactions, since no intermediaries or paperwork are required and makes the entire process much more transparent. At the same time, tokens grant their holders all the rights coming with the underlying assets, such as dividends or the ability to use these tokens as collateral for loans.

RWA tokenization market state and prospects

According to RWA.xyz data, tokenised RWA’s total value locked (TVL), excluding stablecoins, is currently about $13.8 billion. Ethereum blockchain is the leading chain with the highest TVL, with Stellar, Mantle, Base, Arbitrum, Tron, BSC, Solana and other chains taking up the rest. 

The total yearly RWA-tokens trading volume is already about $1 trillion. By 2030, the tokenized market will grow to between $10 trillion (21.co forecast) and $16 trillion (Transak). Some researchers, like Outlier Ventures, consider these predictions to be an underestimation. In other words, the growth potential of the tokenized market is immense, as the CEO of BlackRock, Larry Fink, acknowledged.

RWA-tokenisation market size forecast from 2023 to 2030. Source – Statista

At the moment, the main applications of RWA tokenization are:

  • Government treasury bonds. The volume of US tokenized bonds alone is $2 billion, with an average yield to maturity of 4.95%.
  • Private asset-backed credit – $8.5 billion with an average APR of 9.45%
  • Tokenized commodities with a market cap of $873 million

However, the market structure is expected to change in the coming years, with real estate, public and private debt, and equity becoming the dominant positions.

RWA-tokens as collateral 

In traditional capital markets, it is a standard practice for investors to pledge asset-backed securities or bonds for extra financing. Holders of RWA tokens may use them as collateral in a similar manner.

Borrowed funds can be used to increase existing RWA positions or to gain exposure to other investment opportunities. For example, if the investor anticipates a bullish trend in the crypto market, they can pledge RWA tokens as collateral, borrow stablecoins, and execute any DeFi strategy or just buy crypto.

There are some key advantages over traditional capital markets:

  • Additional financing can be obtained very quickly
  • There is no need for paperwork
  • Financing can be obtained globally with ease

Unfortunately, holders of RWA tokens do not have access to flexible, liquid borrowing / lending solutions.

RWA tokenization challenges and possible solutions

Some risks associated with RWA tokenization, such as reliable physical asset custody and the legal enforcement of smart contracts in the real world, are more organizational than technological. Therefore, we leave these topics outside the scope of today’s article and will discuss them later. However, other issues can be effectively addressed through technology.

Currently, there are numerous platforms and protocols that facilitate the initial sale of tokenized assets to investors, including Ondo, Securitize, Goldfinch, Maple, Credix, Midas, Arca Labs, and others. Despite this, secondary market solutions are not yet well-developed enough to meet the growing market’s needs. Consequently, a significant amount of value remains “stuck” on-chain, accessible only to investors operating on specific blockchains.

Another significant challenge the market faces is fragmentation. The diverse array of tokenization protocols lacks interconnectivity, as they are deployed on different blockchains without effective communication and liquidity exchange mechanisms. 

A potential solution to these market issues is the creation of a cross-chain lending protocol, where tokenized Real-World Assets (RWAs) serve as foundational collateral. Modern cross-chain messaging technologies can eliminate liquidity movement barriers between networks, enabling more fluid asset exchange and lending opportunities.

A Glimpse into the Future of Tokenized Assets: Asterizm’s Cross-Chain Lending Protocol Liqvid

Today, Asterizm, a web3 venture company backed by TechStars, Blockchain Founders Fund, Optic Capital, v3ntures, and other VCs specializing in blockchain interoperability and already facilitating cross-chain communication across 20 blockchains with its messaging protocol, published the first version of the white paper for the Liqvid protocol — a cross-chain lending protocol for RWAs. Previously, the Asterizm team published on X that the Liqvid protocol is in development. Moreover, a newly registered domain, liqvid.xyz, features a landing page with general information about the upcoming product and the white paper.

In a personal conversation with the project’s founding team members Denis Polulyakhov and Konstantin Gamalev, we learned that work on the protocol is in full swing. They also confirmed significant interest and support for the Liqvid protocol from RWA market players (issuers), venture investors, and L1 networks focused on real-world asset tokenization. While they didn’t provide a specific launch date, the team aims to release the first version of the protocol by the end of 2024. 

Clearly, Asterizm’s cross-chain technology has the potential to transform the entire market and accelerate its development. The Asterizm and Liqvid protocol, as an application layer on top of it, enables the creation of a Layer-0 protocol facilitating using on-chain RWA-backed tokens as collateral to borrow stablecoins. This will replace the current landscape of numerous isolated platforms and protocols that “can’t talk to each other” with a unified ecosystem for tokenized assets. Holders of RWA tokens will gain greater access to additional financing, and will no longer be restricted by the liquidity available within their specific blockchain network. This will not only foster the growth of the RWA token market but also accelerate the growth of underlying assets and economic development as a whole.

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