Crypto Adoption Among Women on the Rise

According to a recent poll, conventional asset classes have not been successful in getting more women into the investment space. However, crypto seems to have been successful in bringing women on board. The findings of the poll indicate that there has been a notable increase in the number of women who possess cryptocurrency. According to the data, the percentage of people who owned their home rose from 29% in the third quarter of 2022 to 34% in the most recent quarter.

The team at eToro believes that this indicates that cryptocurrency is “succeeding where conventional financial markets have sometimes failed,” and one way that it is doing this is by attracting a greater number of women.

During the last three months of 2022, the rate of crypto adoption among women skyrocketed, whereas the rate of crypto ownership among males climbed by just one percent during the same time period. The percentage of worldwide investors that own cryptocurrency increased from 36% to 39% from the previous quarter, despite the fact that cryptocurrency was regarded as the asset class that performed the poorest over the course of the previous year.

In addition to being pushed by the participation of women, the data was also affected by the participation of elderly investors who bought the dip.

The percentage of retail investors aged 35–44 and 45–54 who own cryptocurrency increased by 5 percent apiece, which suggests that older investors are also acquiring crypto.

Regarding the question of why more investors are getting involved in cryptocurrency, 37% of those who took part in the survey said they are seizing the opportunity to make high returns, while 34% of those who took part in the survey said they believe in the power of blockchain and think cryptocurrency is a transformative asset class.

Retail investors aren’t the only ones who are showing their faith in blockchain technology by making investments; corporations are beginning to do the same thing.

The results of a poll conducted by Casper Labs on January 12 revealed that of the 603 companies that took part in the study, 90% had already used blockchain technology in some form.


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The Importance of NFTs in the Web3 industry

Over the course of the last year, nonfungible tokens, often known as NFTs, have maintained their position as an integral part of the expanding Web3 economy.

The introduction of NFTs marked the beginning of a transition away from hype-based drops and toward utility-centered programmes with long-term worth.

According to a recent estimate published by DappRadar on blockchain technology and the use of decentralised applications (DApps) in the year 2022, the number of NFTs sold in 2018 reached 101 million, representing a 67.57% rise from the previous year.

According to the findings of the study, the Ethereum ecosystem is now in first place in the NFT ecosystem. It currently controls 21% of the market share and has successfully completed over 21.2 million transactions.

Next on line is Wax, with 14.5 million, then Polygon, with 13.3 million, and finally Solana (12.9 million).

When compared to the previous year, transaction volume in the Solana and ImmutableX ecosystems exploded, increasing by a whopping 440% and 315%, respectively. Neither environment is showing any signs of slowing down anytime soon.

The statistics, meantime, suggest that the BNB ecosystem has not changed at all, with about 1 million transactions recorded for both 2021 and 2022.

Within the last year, there has been a movement in the DApp category that predominates across a number of chains.

By the year 2021, decentralised finance (DeFi) applications had established themselves as the industry standard on all but two of the 13 chains considered for this article.

This year, however, a significant movement toward high-risk, gambling, and non-fungible token decentralised applications (DApps) levelled the playing field.

In addition, the survey identified Ethereum and Cardano as the blockchains with the most active developers working on-chain, with 223 and 151 active protocols, respectively, for each of these two blockchains. While modular blockchains like Polkadot and Cosmos saw their network developer activity increase by 16% and 131.7% respectively during the same time period.

In 2018, not only did the significance of NFTs in the Web3 area spread into the general culture, but they also did so in a big way.

The National Basketball Association (NBA) is one of the legacy organisations that has continued to accept NFTs, and now Amazon is producing a documentary series about those who collect NFTs.

In December of the previous year, China made an announcement on the launch of its first national NFT marketplace. This market is intended to act as a secondary market for the trading of digital assets.


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Bybit CEO clarifies company’s exposure to Genesis

On January 20, 2019, renowned cryptocurrency lender Genesis Global Trading became the latest firm to declare bankruptcy in the aftermath of the collapse of FTX. Genesis Global Trading filed for protection under Chapter 11 in New York, becoming the fourth company to do so.

On the other hand, the attention of the cryptocurrency community has recently switched onto other companies that were exposed to the loan company.

According to one source, a total of nine different cryptocurrency companies, including Gemini, Bybit, VanEck, Decentraland, and others, have exposure to the Genesis blockchain.

Ben Zhou, the CEO of Bybit, was quick to reply to the claims and emphasised that his company did indeed have a $150 million exposure to the defunct cryptocurrency lender through its investment arm Mirana.

Zhou made the observation that Mirana only handled a part of Bybit’s assets, and that the estimated $151 million exposure included around $120 million of collateralized holdings, all of which Mirana had previously liquidated.

Additionally, he ensured that customer cash are kept separate and that the various products offered by Bybit do not utilise Mirana.

Although many people were grateful for the swift answer provided by the co-founder, many others still had further concerns about the clarification, particularly concerning the various items offered by the firm.

One of the users sought complete transparency about the earn items and the yield generation process.

Another user raised concerns over their connection with Mirana and inquired as to whether or not they follow a strategy comparable to that of FTX/Alameda.

Others were perplexed by the timing of the revelation, considering the many problems that have been associated with the book of Genesis.

Some of Genesis’s largest lenders, such as Gemini, have been quite vocal in their demands for action to be taken against the Digital Currency Group, which is Genesis’s parent business.

A user commented as follows: “If you tweet “full transparency” only after you have been discovered with your trousers down, then your claim is immediately invalidated.

ByBit would have disclosed this information some months ago if it were considered “full transparency.”

“Many other people wanted evidence that transactions had taken place between Bybit and Marina as a kind of reassurance while also reminding Zhou that previous FTX executives had made comments that were quite similar.

I appreciate the promptness with which you have responded to this.

Please be aware that despite this, everyone is still on edge.

People will have a more positive reaction and feel better about themselves if you can present more proof or evidence. The CryptoData Twitter Account (@TheCryptoData) January 20, 2023


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The Use of Blockchain in the Film Industry

Web 3.0 technologies are making further inroads into a variety of traditional businesses, hence introducing innovation to previously established protocols.

This encompasses creative industries that have a long history, such as the music business, as well as more contemporary creative sectors, such as the film industry.

The new film Fuzzy Head will have its world debut this year at the Slamdance Film Festival, which is an Oscar-accredited film festival for independent filmmakers. The production of the film was made possible by the blockchain-powered crowdfunding site “The most crucial part of crypto and blockchain integrations in the film business will be increasing fan interaction through NFTs and opening up a new asset class to all different sorts of investors via compliant security tokens,”

Dapper Labs and Untold have formed a partnership in order to advance Untold’s technology and provide its programmes with more accessibility.

Other noteworthy movies, such as “The Comeback Trail,” which stars Robert De Niro and Morgan Freeman, have also received financial backing via this platform. It is not the first time that a film festival has seen the use of cryptocurrency and blockchain technology in films that are making their world premieres.

In 2019, representatives from the Filmio blockchain platform went to the venerable Sundance Film Festival in order to explore potential ideas for the blockchain-based entertainment platform that they are developing.

During Sundance Film Festival of the previous year, Liquid Media Group made an announcement about their first blockchain film streaming with a slate of digital panel discussions.

Additionally, the business discussed the effect that nonfungible tokens (NFTs) have had on filmmakers and the communities in which they work.

The movie “Prizefighter,” which was directed by Russel Crowe and released in 2022, used non-traditional forms of financing (NFTs) in order to partially support its production. The director described the movie as being “audience-driven.”

According to Aksu, the use of blockchain-based technologies by heritage directors and large festivals adds awareness to these tools for small filmmakers, who stand to gain tremendously from using them. These are also wonderful possibilities to build a genuine community that supports ground-breaking initiatives like blockchain.

The previous year, film director Anthony Hopkins was successful in selling all of the items in an NFT collection that was based on characters from movies that he had previously produced.

In addition, Quentin Tarantino developed novel film techniques (NFTs) based on his groundbreaking film Pulp Fiction.

Later on, he became embroiled in a big legal dispute with the film production business, which centred on allegations of copyright infringement.


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Reactions to Genesis Global Trading’s Bankruptcy

Members of the cryptocurrency community expressed their opinions on the situation on social media shortly after the crypto lender Genesis Global Trading filed for protection under Chapter 11 of the United States Bankruptcy Code in the state of New York. Members of the crypto community shared their opinions on the most recent event in what appears to be an endless string of bankruptcies in the cryptocurrency space. These opinions ranged from the conviction that no one will be held accountable to the characterization of the entire concept of crypto lending as “stupid.”

There are others who feel that bankruptcy attorneys will emerge victorious in each of these competitions.

A member of this group who identified themselves as a creditor of Voyager said that consumer cash would be used to pay the legal team one million dollars, and in the end, “no one will be held responsible.”

Genesis has recently submitted its application for chapter 11.

Bankruptcy attorneys making profit on crypto bankruptcies.

— Coin Bureau (@coinbureau) January 20, 2023 Cameron Winklevoss, co-founder of Gemini, said that the bankruptcy is “excellent news” and a move toward Gemini subscribers receiving their money back. He referred to it as a “step.”

However, a member of the community responded to Winklevoss’ tweet by stating once again that the users are the only people who have been affected.

According to the user, Gemini is “also as culpable” for not doing enough research on the manner in which Genesis does business before to forming a partnership with the company. During this time, a crypto analyst drew up a diagram to show how crypto enterprises could have been linked during the current spate of bankruptcies that the sector has been experiencing.

The expert believes that the Genesis bankruptcy will shed light on the leverage cycle in the cryptocurrency market.

Some members of the community, who seem to be sick and weary of the negativity that surrounds the area, have stated their lack of faith in cryptocurrency firms.

A commenter on Twitter said that people couldn’t trust firms located in the United States anymore since all of the companies were interconnected.

Billy Markus, the developer of Dogecoin (DOGE), also weighed in on the controversy, labelling the whole notion of cryptocurrency lending as “dumb” and referring to everyone participating in the practise as a “idiot.”


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Former FTX US Head Launches New Crypto Software

According to Bloomberg, the former CEO of FTX US is creating a new bitcoin software firm and has already secured $5 million from different investors. Coinbase Ventures and Circle Ventures have provided funding for a new software company that will be founded by Brett Harrison, who formerly held the position of president of FTX US from May 2021 to September 2022.

Shari Glazer of Kalos Labs and Anthony Scaramucci were two of the individuals that joined in the seed round with SALT Fund, Motivate VC, P2P Validator, and Third Kind Venture Capital.

His new company, which will be known as Architect, will provide trading software for huge institutions who are interested in accessing the cryptocurrency markets.

He expressed to Bloomberg his optimism that “people would be able to recover their trust back in trading in this business” with the release of Architect.

Harrison left FTX US months before the company collapsed under the shoddy guidance of Sam Bankman-Fried, who headed the global FTX cryptocurrency exchange and several other companies under its purview. Harrison left FTX US because he was unhappy with the direction the company was being led in by Bankman-Fried.

In November, FTX US was one of around 130 firms that were a part of the FTX Group that filed for bankruptcy.

1/49 A lot of people have inquired about my tenure at FTX US and the reasons for my departure at the time that I did.

As I said earlier in the week, I’m excited to start sharing my experiences as well as my point of view with the public.

— Brett Harrison (@BrettHarrison88) The 14th of January, 2023 On January 14, Harrison detailed the reasons for his departure from the cryptocurrency exchange in a long discussion on Twitter.

He claimed that six months into his tenure, “cracks began to form” in his relationship with Bankman-Fried, and that the former CEO of FTX displayed “total insecurity and intransigence” whenever he was confronted with conflict. He stated that this behaviour occurred whenever he was put in a position of authority.

Among other alleged transgressions, Bankman-Fried is facing eight criminal accusations and may spend as much as 115 years in jail for allegedly scamming investors and breaking regulations pertaining to political funding.

On January 5, he entered a plea of not guilty to all of the charges.

As the bear market continued to wreak havoc on the cryptocurrency industry in the second half of 2022, venture capital funding started to dry up.

As cryptocurrency markets adjust to the new reality, the failure of FTX and the subsequent ripple effects it caused seem to have added further strain to the process of raising cash.

According to Bloomberg, Harrison’s first goal for Architect was to fund anywhere from $5 million to $10 million at a value of $100 million.


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Lawyers Speak on Motions Dealing With Potential conflicts

One of the attorneys defending debtors in FTX’s bankruptcy case, James Bromley, has denounced social media behaviour against his law practise that was fanned by tweets from FTX’s former chief executive officer, Sam Bankman-Fried. Bromley’s comments were made on Twitter.

At a hearing held on January 20 in the District of Delaware, attorneys discussed potential conflicts of interest between Sullivan & Cromwell, the law firm tasked with the investigation of FTX’s bankruptcy, and the cryptocurrency exchange. The attorneys spoke on motions dealing with the potential conflicts of interest.

Bromley, a partner at Sullivan & Cromwell, pushed back against the narrative that the law firm would be unable to act as a disinterested examiner given that it had previously provided legal services to FTX and one of its former partners, Ryne Miller, went on to become the FTX US lead counsel. Bromley was responding to the claim that the law firm would be unable to act as an impartial examiner due to the fact that it had previously provided legal services to

On January 19, former FTX Chief Regulatory Officer Daniel Friedberg filed a declaration with the court, alleging that Miller wanted to drive business to Sullivan & Cromwell, claiming that he wanted to become a partner with the firm following the conclusion of the bankruptcy case. Friedberg’s declaration alleged that Miller wanted to drive business to Sullivan & Cromwell.

Bromley argued in court that the debtors would be subject to “further assaults on Twitter” and other submissions of a similar kind if the judge were to grant an adjournment based on these claims. He said that this would likely result in the case being delayed.

Friedberg participated in the processes for the virtual bankruptcy, but since he was not physically present in court, he was not given the opportunity to speak.

The court came to the conclusion that there were no actual or prospective conflicts of interest that were serious enough to disqualify Sullivan & Cromwell from continuing to represent the debtors. ” One of the things that the debtors have been typically encountering is attack through Twitter,” said Bromley. “This is one of the things that the debtors have been normally facing in these situations.” ” It is extremely difficult, your honour, to cross examine a tweet, especially tweets that are being published by persons who are under criminal prosecution and whose movement is limited,” the attorney said.

Bromley later suggested that Friedberg and Bankman-Fried had been using social media to “throw stones” at debtors for providing information to authorities, with the declaration coming “hot on the heels of two very long and rambling tweets” from SBF. Bromley’s statement was made after Friedberg and Bankman-Fried had used social media to “throw stones” at debtors for providing information to authorities.

He also mentioned that Bankman-Fried was “immediately online” to respond to a report in which CEO John Ray had commented on FTX’s solvency and had criticised information that was intended to provide transparency for debtors. He said that Bankman-Fried was responding to the report because it was “immediately online.” “Mr. Bankman-Fried is the mastermind behind all of this, and if and when we decide to relocate this, regardless of where we decide to transfer it, I have no doubt in my mind that he will attempt to do anything to obstruct our progress in some manner.

He is hitting out at everyone.”

At the time of publishing, Bankman-Fried had not yet provided any commentary on the verdict; nevertheless, the company had retweeted rumours from other users that Sullivan & Cromwell would continue to defend FTX debtors.


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The UAE’s Minister of State for Foreign Trade Thani Al-Zeyoudi

Thani Al-Zeyoudi, the minister of state for international trade of the United Arab Emirates, has predicted that cryptocurrency would play a “significant role” in the country’s participation in global commerce in the future.

Al-Zeyoudi provided a number of updates regarding the United Arab Emirates’ trade partnerships and policies heading into 2023 during an interview with Bloomberg that took place on January 20 in Davos, Switzerland, which is the location where world leaders are currently gathered for the 2023 World Economic Forum.

In his remarks pertaining to the cryptocurrency industry, the minister claimed that “crypto will play a big role for UAE commerce moving ahead,” and he went on to emphasise that “the most important thing is that we establish global regulation when it comes to cryptocurrencies and crypto enterprises.”

Al-Zeyoudi went on to suggest that as the UAE works on its crypto regulatory regime, the focus will be on making the Gulf country a hub with crypto-friendly policies that also have sufficient protections in place: “We started attracting some of the companies to the country with the aim that we’ll build together the right governance and legal system, which is needed.” [Translation:] “We started attracting some of the companies to the country with the aim that we’ll build together the right governance and legal system,

Al-remarks Zeyoudi’s come less than a week after the UAE Cabinet adopted a new regulation, which, in essence, ensures that entities engaging in crypto activities must secure a licence and approval from the Virtual Asset Regulatory Authority. Al-remarks Zeyoudi’s come as a result of recent developments in the cryptocurrency market (VARA).

Under the terms of the new legislation, businesses who fail to comply risk incurring penalties of up to $2.7 million.

This action adds to the “Guiding Principles” for the regulation and supervision of digital assets that were released in September by the financial regulator of Abu Dhabi’s Global Market free economic zone.

The principles lay forth a welcoming attitude toward cryptocurrencies while also making a commitment to comply with international norms on anti-money laundering (AML), countering the funding of terrorism (CFT), and supporting financial sanctions.

In addition, Omar Sultan Al Olama, Minister of State for Artificial Intelligence and the Digital Economy of the United Arab Emirates, participated in a panel discussion at the World Economic Forum on January 19 that was centred on cryptocurrency.

Al Olama made the point that while the FTX scandal was a significant cause for worry, the United Arab Emirates (UAE) still intends to operate as a hub despite all that has transpired.

According to him, the fact that crypto firms choose the UAE to be their home is unquestionably a good thing.

The minister also distanced the United Arab Emirates from accusations that its towns, like as Dubai, tend to become major sites for discredited crypto personalities to run to. He said that “bad actors don’t have a country and don’t have a destination.”

However, he did emphasise that governments do need to collaborate in order to prevent bad actors from fleeing the country and going on the run internationally.

“They are there in every single place.

You will see them in the Bahamas, you will see them in New York, and you will see them in London. What we need to do as governments is work together, and we need to work with the industry as well, to ensure that if someone does something wrong, he can’t move from one place to the other, and you will see them there “he said.


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FTX Founder to Forfeit $700 Million

According to recent documents filed in court, in the event that disgraced FTX founder Sam Bankman-Fried (also known as SBF) is found guilty of fraud, he will be required to relinquish assets valued at over 700 million dollars.

U.S. federal prosecutor Damian Williams said, in a document that was submitted to the court on January 20, 2019, that the “government respectfully provides notice that the property susceptible to forfeiture” contains a comprehensive list of assets that include fiat currency, shares, and cryptocurrency.

According to the documents, the majority of the assets were taken by the government between January 4 and January 19, while the government is also attempting to lay claim to “all funds and assets” linked to three different accounts on Binance.

When looking at the list of assets that were seized, the largest allocations include 55,273,469 Robinhood (HOOD) shares, which had a market value of approximately $525.5 million at the time this article was written; $94.5 million was held at Silvergate Bank; $49.9 million was held at Farmington State Bank; and $20.7 million was held at ED&F Man Capital Markets, Inc. In this particular incident, the government has requested that the assets in question be forfeited since it believes that these assets were illegally gained via the use of consumer deposits.

Although other members of SBF’s inner circle, such as Caroline Ellison and Gary Wang, have confessed and cooperated with prosecutors over their involvement in the failure of FTX, the man himself has entered a not guilty plea to all eight of the criminal counts that have been brought against him.

In other developments pertaining to FTX, a story published on January 18 by the Wall Street Journal (WSJ) revealed improperly aged advertisements that the exchange issued in Africa not too long before it filed for bankruptcy in November.

The campaign in issue promoted USD-pegged stablecoins as more secure investments than local currencies with respect to inflation, while simultaneously advertising the ability to earn 8% annually via staking rewards schemes.

In spite of the fact that those inflation sentiments may generally be true given that African currencies such as the Nigerian naira and the Ghanaian cedi have plummeted against the USD, any African FTX customer who was persuaded by the marketing of the company went on to lose funds when the company went bankrupt.

Pius Okedinachi, a former FTX education lead for Africa, disclosed to the WSJ that the exchange managed over $500 million worth of monthly trading activity in Africa, with the majority of the volume originating from Nigeria.


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CFTC Commissioner Questions VCs’ Due Diligence

Commodity Futures Trading Commission (CFTC) raises questions regarding the level of due diligence carried out by institutional investors and their level of accountability regarding the loss of user funds in the context of ongoing investigations regarding the defunct cryptocurrency exchange FTX. These investigations are taking place in the context of ongoing investigations regarding the FTX. Concerning the extent of responsibility that should be taken for the misappropriation of user cash, some concerns have been posed. These investigations are now still being carried out. Concerns and questions have been voiced in connection to the amount of responsibility that has to be taken for the theft of user cash. These questions and concerns have been presented in a number of different ways.

In an interview with Bloomberg, CFTC Commissioner Christy Goldsmith Romero stated that venture capital firms that had to write down their investments in the millions of dollars to nearly zero raises “serious questions” about the level of due diligence that was performed over the course of the previous year. Romero was referring to the fact that these firms had to reduce their investments from nearly zero to almost zero. Romero was alluding to the fact that these companies were required to lower the amount of money they invested from practically nil to almost zero. Romero was making a reference to the fact that these businesses were mandated to reduce the amount of money they invested from almost little to basically nothing. Romero was making a reference to the fact that these companies were required to decrease the amount of money they invested from nearly nothing to essentially nothing, and he was saying this in the context of his comment.

She voiced her concerns to the magistrate in response to the revelations that the CEO of FTX, John Ray, had made in court regarding the fact that the exchange lacked both records of its financial transactions and procedures to oversee such operations. John Ray was testifying about the fact that the exchange lacked both records of its financial transactions and procedures to oversee such operations. The fact that the exchange did not keep records of its financial dealings and did not have policies and processes in place to monitor such dealings was a source of worry for her. She was made to feel uneasy as a result of these revelations.


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