NFT News Today Official TheBitTimes.com

The capital will be dedicated to supporting Web3 startups in Asia. Vietnamese Web3 coalition Ninety Eight, creator of the Coin98 decentralized finance (DeFi) ecosystem , has launched a $25 million ecosystem fund dedicated to accelerating Web3 startups in Asia. According to the Nov. 7 announcement, the fund will provide financial and strategic support for selected startups. In addition, startups can use the firm's existing Viction layer-1 blockchain infrastructure for low-gas fee transactions and enhanced security.  Another key aspect of the Ninety Eight Ecosystem Fund is its native token, $C98, designed initially as a wallet token. The $C98 token allows users to store, send, receive, and manage crypto assets, as well as connect to decentralized applications on over 40 blockchains. Its namesake DeFi platform provides users access to cross-chain swaps, staking, and yield farming. "To ensure the efficient deployment of the Ecosystem Fund, we have entrusted Arche Fund, a ventu...

While neither the world’s largest nor the world’s best-known blockchain , Tron (TRX) has been gaining ground when it comes to transactions involving USDT. In fact, at the time of publication, Google Trends shows that global interest in Tron USDT has been as high as in Ethereum USDT over the previous year. The trend is further corroborated by a paper published by Brevan Howard, an Isle of Jersey-based hedge fund with over $35 billion in assets under management (AUM), titled “The Relentless Rise of Stablecoins”. Between January and August 2023, Tron accounted for 35% of volume, 37% of transactions, and 49% of active stablecoin addresses, according to the document.   The paper similarly notes that there has been a broader dwindling of Ethereum (ETH) when it comes to stablecoin activity in favor of not only Tron but also other blockchains like Avalanche (AVAX) and Polygon (MATIC). The comparison between interest in Ethereum (red) and Tron (blue) over the previous 12 months. Source: Goo...

According to blockchain security analysts, the developers of the Safereum project suddenly sold more than 700 ETH worth of its native token, sending the price of SAFEREUM plunging more than 90%. The crypto community has been left fearing the worst after seeing huge sums of liquidity drained from the cryptocurrency project Safereum just hours after its team had finalized a massive $600,000 fundraising. According to blockchain security firm CertiK and other analysts, the developers of Safereum — using the token deployment address “safereum.eth” — unlocked the supply of the token and dumped more than 600 Ether (ETH) worth of its holdings, causing the price of the Safereum (SAFEREUM) token to plunge more than 94%. #CertiKSkynetAlert We can confirm that @Safereumio has conducted an exit scam for ~$1.3m Eth: 0xb504035a11E672e12a099F32B1672b9C4a78b22f safereum.eth unlocked Safereum token s and sold. Additionally ~$597k was raised for the project’s SAFEPAD token .https://t.co/aAxjcEmdcH ...

In the realm of content creation, three fundamental elements come into play: “perplexity,” “burstiness,” and “predictability.” Perplexity gauges the intricacy of the text, while burstiness compares sentence variations. Lastly, predictability assesses how likely it is for someone to anticipate the following sentence. Human authors tend to inject diversity into their writing by interspersing longer and more intricate sentences with shorter ones. In contrast, AI-generated sentences often exhibit a higher degree of uniformity. For the content you’re about to embark on creating, it’s essential to infuse it with a healthy dose of perplexity and burstiness while keeping predictability at bay. Furthermore, the content must be meticulously crafted in English. Now, let’s rephrase the following passage: Security experts have uncovered a devious method employed by threat actors to conceal malicious payloads within Binance smart contracts. Thei...

The RBA assistant governor in his speech noted that the pilot CBDC projects have highlighted several key areas where CBDCs could be of great use. The Reserve Bank of Australia (RBA) is open to the idea of using central bank-issued digital currency (CBDC) as the future of money where CBDC would represent a tokenized form of central bank reserves. Brad Jones, the assistant governor (Financial System) of RBA, in his speech titled “A Tokenised Future for the Australian Financial System,” talked about the opportunities and challenges arising from the tokenization of assets and money in the digital age while shedding light on the proposed plan to use CBDCs as a form of money . Jones started his speech by outlining the use of different forms of money over the course of history and how financial instruments have evolved over time. While talking about tokenization and tokenized forms of money in the modern era, Jones talked about stablecoins and CBDCs. He noted that stablecoins issued by...

Conversations with key speakers at the Blockchain Expo Europe in Amsterdam suggest that cryptocurrency exchanges and companies see the continent as a key region for growth. Europe remains fertile ground for the cryptocurrency ecosystem to flourish in comparison to harsher regulatory environments, according to prominent speakers at this year’s Blockchain Expo in Amsterdam. Cointelegraph attended the convention held at the RAI conference center for the second year running, with the Blockchain Expo forming part of the larger Tech Expo event being hosted in the Netherlands. The event has typically attracted prominent mainstream industry players from the financial world to showcase how blockchain technology is being leveraged to power innovative new products and solutions across a myriad of industries. From finance, logistics, healthcare and marketing, blockchain technology and Web3 functionality continues to be a key growth area for different industry players. MiCA bodes well for institut...

The Miss Universe Organization said that there is no Miss Universe cryptocurrency or blockchain offering involved with the Miss Universe or Miss Universe Philippines. The Miss Universe Organization has denied any association with the Miss Universe Coin project announced at the Philippine Blockchain Week (PBW) event held earlier this month. PBW said that they are in contact with all involved parties and will post an update soon. Earlier this month, a project called Miss Universe Coin was announced at PBW. Donald Lim, the founder of the organization managing the PBW, said during the event that the PBW will “launch the Miss Universe Coin.” However, weeks after the announcement, the official organization behind Miss Universe has denied any association with the coin project and called it a fraud.  Official announcement published on the Miss Universe Facebook page. Source: Facebook On Sept. 22, the Miss Universe official Facebook page announced that the Miss Universe Organization and JK...

FTX's decision was undertaken as a proactive measure aimed at preventing the occurrence of any potential future incidents or additional harm following the recent hack. Following the recent Kroll cybersecurity breach , FTX Derivatives Exchange, a financially distressed cryptocurrency trading company, has opted to temporarily suspend accounts of impacted users accessing its claims portal. FTX's decision which was posted on X (formerly known as Twitter) was undertaken as a proactive measure aimed at preventing the occurrence of any potential future incidents or additional harm following the recent hack. The exchange is dedicated to offering more comprehensive information in the subsequent stages. In response to Kroll’s cybersecurity incident, FTX has taken the precautionary measure of temporarily freezing affected user accounts within the customer claims portal. We thank you for your patience, and will provide additional information regarding next steps in due course. — FTX (@F...

Stellar joined the industry group developing Wasm, an alternative computation engine for running smart contracts. The Stellar Development Foundation has joined the Bytecode Alliance, an industry group promoting the development of WebAssembly (Wasm), according to an Aug. 21 announcement. Wasm is a competitor to the Ethereum Virtual Machine (EVM) used by the Ethereum ecosystem. It is also used in non-blockchain, browser-based applications. We are officially members of @bytecodeallies! Our goal? To shape the future and development of WebAssembly for blockchain developers. Time to get to work https://t.co/MBLkWoNlDl — Stellar (@StellarOrg) August 21, 2023 EVM is a virtual machine or computation engine used to execute smart contracts. It is used by most blockchain networks, including Ethereum, BNB Chain (BNB), Avalanche (AVAX), and many others. But a few networks use Wasm instead, including Polkadot (DOT), MultiversX (formerly Elrond) (EGLD), and Internet Computer (ICP). Stellar beg...

RocketX, a multichain centralized and decentralized exchange (DEX) aggregator that allows users to trade multiple assets, is integrating Hedera, per a press release shared with crypto.news on Aug. 10. RocketX integrates Hedera Incorporating the RocketX infrastructure aims to enhance Hedera’s interoperability in decentralized finance (defi). This development will also likely make Hedera interact with other networks and blockchains more seamlessly. RocketX is a platform that facilitates the trading of numerous assets from multiple networks via a single user interface and API.  As of Aug. 10, RocketX aggregates more than 300 centralized and decentralized exchanges, providing access to a liquidity pool worth over $100 billion.  The integration of RocketX with Hedera, therefore, is a significant development that makes crypto more fluid, dismantling the current “blockchain-silo” nature of operations, enhancing interoperability . You might also like: Hedera (HB...

According to the research, combining the technologies will result in 12 distinct advantages over the traditional educational system. Mehmet Fırat, a researcher at Anadolu University in Turkey, recently published research envisioning a multi-tech solution to the problems challenging the traditional education al system called the “Smart Open Education Eco system ” (SOEE). The research combines blockchain, decentralized autonomous organization (DAO), non-fungible token (NFT), multimodal learning analytics (MMLA), and artificial intelligence (AI) technologies to form a self-contained educational ecosystem. The interconnected learning system, screenshot: Firat, 2023 Per a research paper authored by Firat and published on July 25, “Equity, fair opportunity, and access issues can be considered among the most significant handicaps of education in today's world.” Firat proposes an “open education” system running blockchain that uses generative AI systems such as ChatGPT or the like to in...

The politician and business magnate has his eyes set on Binance CEO CZ taking the reins of the future crypto industry. During a panel at Collision 2023 in Toronto, Anthony Scaramucci, founder of Skybridge Capital and former White House communications director, stated that disgraced crypto executive Sam Bankman-Fried “really hurt the industry in the United States from a regulatory perspective." Scaramucci continued: “He embarrassed the politicians; he gave a lot of money to them. They spent a lot of time with him, Gary Gensler spent a lot of time with him. And then they had this huge situation that happened. And that was very embarrassing. And so now the pendulum has swung too far to over-regulation in this ridiculous prosecutorial oversight." When asked for his opinion concerning the crypto regulatory environment in Canada compared to the U.S., Scaramucci stated that “Canada actually learned from the United States and set it up the way we used to do things in the United St...

Twitter users noticed thousands of Safe deployments to Optimism, leading to speculation that it may be an attack, but the developer of Worldcoin confirmed that this activity was merely an app migration. Worldcoin is the cause of a slew of Safe deployments to the Optimism (OP) network over the past week, according to a June 27 social media post from Tiago Sada, head of product for Worldcoin developer Tools for Humanity. The deployments had caused a stir on Twitter, as users wondered who was causing them and what their purpose was. Some Twitter users had speculated that it might be a Sybil attack or some kind of address-farming technique used to profit from coins sent to the wrong address. Deploying more safes - steady lads https://t.co/W5DiQirrP0 — tiago sada (@tiagosada) June 27, 2023 A Safe (previously called “Gnosis Safe”) is a multisignature smart contract wallet. It is often used by development teams to ensure that multiple team members must sign off on each transaction that s...

The nonfungible token platform was launched in partnership with Near Protocol. On June 20, Škoda India, the Indian subsidiary of Czech automobile conglomerate Škoda Auto, launch ed a Web3 and nonfungible token (NFT) experience in partnership with Near Protocol. Dubbed “Škodaverse India," developers say the platform will possess low gas fees, interoperable NFTs for multi platform usage, and eco-friendly, scalable NFTs. The firm wrote:  “Škodaverse India will also unlock bespoke utilities and experiences for NFT holders which will be revealed along with the first drop details. All NFTs will be minted on carbon-neutral blockchains, aligning with our sustainable vision." The debut Škoda NFT collection is scheduled to launch “soon," with no fixed date or offer price. Users will be able to mint the NFT whenever it is dropped through the addition of funds to their wallets.  Benefits for NFT holders, as listed by developers, include owning a unique digital asset represent...

Could higher-quality gameplay and a completely free experience allow Web3 titles to attract more users? Play-to-earn games took the world by storm in 2021, and at their peak, some enthusiasts in South East Asia were able to supplement their incomes by getting involved. However, a crushing bear market and a series of hacks changed all that, and to make matters worse, the tokenomics within top-tier titles were unsustainable, meaning the rewards on offer had to be drastically reduced. Some gamers are also dismissive of the proliferation of nonfungible tokens (NFTs) and cryptocurrencies, arguing that they take the fun out of the experience by making everything about money. Ubisoft is just one of the big brands that has faced negative feedback from its customers. Even for players who are open to nonfungible tokens, getting involved can be an expensive endeavor. In-game assets aren’t always cheap, especially when gas fees are factored in. And there’s also the risk of a disappointing return...

The attacker took advantage of the lack of slippage control of liquidity conversions to steal the funds. Adding to the existing number of protocol hacks in the crypto industry, Jimbos Protocol has not escaped the sights of the attackers as it has suffered an attack resulting in a loss of a large amount of funds. According to PeckShield, a blockchain security unit, Jimbos Protocol, the liquidity protocol of the Arbitrum system, was hacked on the morning of May 28. The attack resulted in the loss of 4,000 ETH, equivalent to approximately $7.5 million. Specifically, the attacker took advantage of the lack of slippage control of liquidity conversions. The protocol's liquidity is invested in a price range that doesn't need to be equal, creating a loophole where attackers can reverse swap orders for their own gain. Despite being launched less than 20 days ago, the Jimbos Protocol aimed to address liquidity and volatile token prices through a new testing approach. However, it appear...

Despite negative sentiment toward crypto adoption in the United States, Consensus 2023 attracted thousands of attendees to discuss the potential of blockchain technology and cryptocurrency. Consensus, the annual crypto and blockchain conference, attracted over 15,000 attendees, 220 sponsors and 410 speakers to its 2023 edition in Austin, Texas, despite recent regulatory struggles around cryptocurrency adoption in the United States.  The turnout at Consensus 2023 demonstrated that U.S.-based companies and international organizations are still very much interested in implementing Web3 Technology into their Business models. Caitlin Long, founder and CEO of Custodia Bank — a Wyoming-based digital asset bank — told Cointelegraph that the conference attracted serious ecosystem participants, saying, “We’ve seen during crypto winters before where Consensus gets overrun with high time preference people and companies (for example, multiple Lambo’s parked out front of the New York Hilton in 2018...

Unsuspecting cryptocurrency users have lost over $4 million to phishing websites promoted using Google Ads. Data from Google Ads coupled with blockchain analytics reveals that over $4 million has been stolen from users that have fallen for malicious phishing websites promoted on Google. According to Web3 anti-scam service provider ScamSniffer, malicious adverts for phishing websites have been prevalent on Google ads searches in recent weeks. The URLs lead to fraudulent websites that prompt wallet login signature requests that compromise users’ addresses. 1/ A recent surge in phishing scams via Google search ads has led to users losing approximately $4 million. ScamSniffer has investigated multiple cases where users clicked on malicious ads and were directed to fraudulent websites.#PhishingScams #GoogleAds pic.twitter.com/vuKCgSuFnV — Scam Sniffer (@realScamSniffer) April 27, 2023 A number of decentralized finance (DeFi) protocols, websites and brands, including Zapper.fi, Lid...

The pension fund had invested twice in the now-bankrupt crypto exchange, once during the peak of the bull run in 2021 and again in early 2022. The Onatario Teachers’ Pension Plan has decided to steer its investment away from cryptocurrencies.  The decision comes after the OTPP — which manages over $190 billion in assets  — lost the entirety of its $95 million investment in crypto exchange FTX after it went bust in November 2022. OTPP was one of the many backers of the now-bankrupt crypto exchange and had invested twice: Once during the bull market in 2021 and again during exchange’s Series C funding round in early 2022. OTPP chief executive Jo Taylor said in an interview with the Financial Times that it’d be unwise for the pension fund to rush into another crypto investment . Taylor said that they are still processing what happened with the exchange, and they would be much more cautious before invest ing in emerging assets like digital currencies. The pension fund is responsible f...

To stay recession-proof, build an emergency fund, cut expenses, diversify investments, pay off debt and enhance your skills. A recession is a period of economic decline that can impact individuals and businesses alike. It’s important to take steps to prepare for a recession to help minimize the potential negative impact on your finances. Here are some strategies to consider: Build an emergency fund Building an emergency fund is one of the most critical steps to take to prepare for a recession. One may aim to save at least three to six months’ worth of living expenses in a separate account. This money can be used to cover their basic expenses in case of job loss or other financial hardships. 8 lessons for life: 1. Health over wealth 2. Know when to pivot 4. Become self-sufficient 5. Invest in you education 6. Pick your battles wisely 7. Have an emergency fund 8. Build several income streams — M O R E (@OwnFoundations) March 24, 2023 During a recession, losing a job and strugg...