In the dynamic world of cryptocurrency, opportunities abound for those seeking to generate passive income. Whether you’re a seasoned investor or a newcomer, exploring these top 8 strategies can help you harness the potential of the crypto market and build a sustainable stream of passive income. You can make crypto passive income through Cloud Mining,Affiliate programs,Liquidity mining,Running lightning crypto nodes,staking, Crypto games, Airdrops, Dividend-earning tokens, and more! Cloud Mining GDMining: GDmining offers efficient and accessible cloud mining solutions for cryptocurrency enthusiasts. By leveraging advanced technology, GDmining provides a hassle-free way to mine a variety of digital currencies without the need for expensive hardware or in-depth technical knowledge. What makes GDmining special? Sign up to get $50 immediately. Automated daily payouts. The free package can be purchased daily. An affiliate program with 3% lifetime rewards. Different Crypto contracts to choose from. No overhead or electricity fees. 24-hour online support. For more information, please visit the official website:https://gdmining.com/. Affiliate programs: Many crypto platforms offer affiliate marketing programs. By referring new users, you can earn commissions, often paid in cryptocurrency. This method suits those with a significant online presence or network and can be a steady income stream if leveraged effectively. Joining GDmining‘s alliance program allows you to operate it like a boss without investing a single penny and start making money. For instance, if someone invests $1000 in the program using your referral code, you’ll receive $30 for free. With unlimited referrals, your income potential is limitless! So why wait? Register now and start earning by sharing your referral link with friends and family. To find out more about the affiliate program, you can visit: Many crypto platforms offer affiliate marketing programs. By referring new users, you can earn commissions, often paid in cryptocurrency. This method suits those with a significant online presence or network and can be a steady income stream if leveraged effectively. For more information, please visit the official website:https://gdmining.com/. Liquidity mining Moving on, liquidity mining is another popular way to earn passive income from cryptocurrency. This has become popular due to the rise of decentralized exchanges (DEXes) and swap pools. Essentially, DEXes require liquidity pools that are used to facilitate transactions of a certain token. These tokens come from community members, called liquidity providers. They deposit their tokens into a liquidity pool, which is just a smart contract for the DEX. In exchange, users receive passive income for contributing to running the DEX. Running lightning crypto nodes The first method to earn passive income would be to run crypto nodes. More specifically, to run a lightning node on the Bitcoin network. This can potentially generate passive income for node operators who earn fees for routing transactions through their nodes. This occurs on Bitcoin’s Lightning Network (LN) — an L2 scaling solution allowing faster and cheaper transactions. Staking Crypto staking is a method of investing in cryptocurrency that entails keeping a set number of coins in your wallet for a set period of time. As a result, your crypto investments can generate passive income. The amount of interest you can earn is determined by the cryptocurrency and the number of coins you stake. Crypto games Halfway down the list, we have one of the most enjoyable ways to earn passive income in crypto. That is to play crypto games. Most crypto games today adopt the Play-To-Earn (P2E) model, meaning you can earn while playing. Different games offer different deals. Some of PvP games reward you for winning matches against other players. Other games let you mine or collect valuable resources and earn them by selling them. Airdrops Another popular way of earning cryptocurrencies passively is participating in airdrops. Airdrops are performed by crypto projects or sometimes crypto exchanges. What this means is that they’ll send free cryptocurrencies to users who fulfill certain requirements. Airdrops are often performed by new crypto projects that seek to distribute their assets. Often, such projects may be supported by exchanges or other larger projects. Dividend-earning tokens In tenth spot, we have dividend-earning tokens. As the name suggests, these are crypto tokens that have some regular dividend rewards for their holders. Although this isn’t common, certain tokens have this mechanism built into their code. One example is VeChain (VET); you earn Thor (VTHO) by holding it. Alternatively, you can get KuCoin Shares (KCS), which will grant you a share of KuCoin’s transaction fees. Advantages of Earning Crypto Passive Income With technological involvement, investors are using digital currencies such as Bitcoin to transfer money without the involvement of any financial institution. Other advantages include the following:   There is no active involvement needed It has lower risks involved, unlike active trading It’s flexible, as you get to choose your investment strategy You can earn income 24/7 It has higher returns compared to traditional investments Conclusion： Research shows that GDMining cloud mining is the best way to mine Bitcoin through cloud mining. It is the simplest, most convenient, and most affordable option.GDMining provides an paccessible athway to generating substantial income from home through cloud mining. Join GDMining now and witness your income rapidly grow in 2024! For more information, please visit the official website:https://gdmining.com/. The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff.  The information on this page does not constitute advice or a recommendation on any course of action and does not take into account your personal circumstances, financial situation, or individual needs. We strongly recommend you seek independent professional advice or conduct your own independent research before acting upon any information contained herein.

The German government has confirmed the emergency sale of 49,858 Bitcoin between June 19 and July 12, 2024, generating proceeds of about 2.6 billion euros (~$2.8 billion). The sale was carried out in cooperation with the Federal Criminal Police Office, and it was linked to ongoing criminal proceedings in the “Movie2k case.” According to an official statement from the state of Sachsen, the proceeds are currently held by the Leipzig Regional Court and are not yet considered a final state asset, pending court decisions on whether the funds can be permanently confiscated. The Dresden Public Prosecutor’s Office stated that an emergency sale is legally required if there’s a risk of a value loss of 10% or more before the conclusion of criminal proceedings. This large-scale sale contributed to a noticeable drop in Bitcoin’s price in June, with the cryptocurrency declining by 9.8% from $67,000 to around $60,000. The price continued to fall in July, briefly dropping below $55,000 before beginning to recover. The sale was executed through numerous small transactions over three and a half weeks to minimize market impact. Background on the Movie2k case The Movie2k platform, known for streaming pirated content, has been under investigation for several years. Authorities allege the operators used earnings from advertising fees and subscription revenue to buy large amounts of Bitcoin. In January, nearly 50,000 Bitcoin, valued at around 1.96 billion euros (~$2.1 billion), were transferred to German authorities by the individuals behind the platform. The government’s intent was to sell the Bitcoin quickly without optimizing for market impact or profitability. This involved transferring funds to multiple centralized cryptocurrency exchanges to maximize liquidity. The German government’s Bitcoin selling pressured Bitcoin’s price. The cryptocurrency recovered above the $60,000 mark on July 14, a day after the government’s wallet ran out of BTC. During June, Bitcoin’s price fell over 7%, but it rebounded by over 11% in the following week. Bitcoin’s price decline was not solely due to the German government’s sales. Other factors, such as incoming Mt. Gox creditor repayments and stagnating Bitcoin exchange-traded fund (ETF) flows, also played a role. The volume of Bitcoin sold by the German government had less impact than the market’s reaction to the news of the sales. Analysts suggest that the market will likely stabilize after digesting the Mt. Gox repayments, similar to the recovery observed following the German government’s Bitcoin sales.

State Street, one of the world’s largest custodian banks, is considering creating a stablecoin as part of its efforts to engage with blockchain technology for settling payments, Bloomberg reported on Wednesday. The financial services firm is also exploring the possibility of developing a deposit token, which would represent customer deposits on a blockchain, according to an anonymous source cited by Bloomberg. State Street, the 12th-largest bank in the U.S., has a history of involvement in the cryptocurrency sector. Last month, State Street Global Advisors partnered with Galaxy Asset Management to launch exchange-traded funds (ETFs) that provide exposure to crypto firms. In 2021, the firm established a new unit dedicated to digital assets, tokenization, and cryptocurrency. Other companies have already ventured into the stablecoin market. PayPal launched its dollar-backed stablecoin, PayPal USD (PYUSD), in partnership with Paxos last year. Currently, there is no federal regulatory framework for stablecoins in the U.S. But the regulators have been questioning crypto firms over their practices around handling clients’ digital assets. The probe has gathered pace in the wake of the collapse of Sam Bankman-Fried’s crypto empire. Representatives Maxine Waters (D-Calif.) and Patrick McHenry (R-N.C.) have been working on legislation to regulate stablecoins at the federal level. One of the primary challenges is determining which agency should oversee stablecoin issuers. Efforts to regulate stablecoins are also ongoing in the Senate. U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler has previously likened stablecoins to securities such as money market funds. However, the SEC recently dropped an investigation into Paxos concerning the stablecoin Binance USD. In a statement on July 11, Paxos said the SEC’s decision would “unlock a new wave of stablecoin adoption by leading global enterprises.” The news comes as JPMorgan Chase & Co.’s proprietary digital token, JPM Coin, is reportedly handling transactions worth $1 billion each day, signaling the growing acceptance and usage of the bank’s stablecoin. JPM Coin serves as a payment rail and deposit account ledger, enabling participating entities to transfer fiat money held in deposit with the largest bank in the United States. Since its launch in 2019, the token has facilitated over $350 billion in transactions, establishing itself as one of the most prominent applications of blockchain technology by a traditional financial institution. That compares to JPMorgan’s daily transaction volume of nearly $10 trillion through conventional means.

Chinese billionaire Ho Wan Kwok, also known as Miles Guo or Guo Wengui, was convicted by a U.S. jury on Tuesday on multiple counts, including racketeering conspiracy and wire fraud. Guo was arrested in March 2023 on suspicion of orchestrating a more than $1 billion fraud conspiracy that involved cryptocurrency. He was found guilty of nine out of 12 counts, primarily for soliciting investments in various entities through false statements and representations to hundreds of thousands of his online followers. The Department of Justice alleges that Kwok/Guo fraudulently obtained over $262 million from victims through the cryptocurrency platform Himalayan Exchange. Himalayan Exchange offered assets such as Himalaya Dollar (HDO) and Himalaya Coin (HCN). The indictment claims Guo misled investors about the backing and security of these assets, stating that HCN was 20% backed by gold and promising to cover 100% of trading losses personally. In a separate incident, Guo allegedly raised $452 million from over 5,500 investors in an initial public offering (IPO) for GTV Media Group shares. The U.S. Securities and Exchange Commission had previously taken enforcement action against three of Guo’s companies for unregistered ICOs and IPOs in 2021, resulting in fines and penalties totaling over $539 million. Guo, a close friend of former White House chief strategist Steve Bannon, gained prominence in real estate and construction in China before fleeing the country in 2014 amid charges of bribery, kidnapping, money laundering, fraud, and rape. Living in self-imposed exile in the U.S., he sought asylum and has been a vocal critic of the Chinese Communist Party (CCP). However, some documents he used in his critiques of the CCP have been alleged to be forged, and an Interpol red notice has been reportedly active since 2017. “Moments ago, a unanimous jury found Miles Guo guilty of racketeering conspiracy and various securities fraud, wire fraud, and money laundering charges. He faces decades in prison,” said US Attorney Damian Williams in a statement. “Thousands of Guo’s online followers were victimized so that Guo could live a life of excess,” the prosecutor stated. “Miles Guo, an exiled Chinese businessman and purported billionaire, brazenly operated several interrelated fraud schemes, all designed to fleece his loyal followers out of their hard-earned money so that Guo could spend his days in his 50,000-square-foot mansion, driving his $1 million Lamborghini, or lounging on his $37 million yacht.” The DOJ and FBI have seized $634 million from 21 bank accounts, alleging these to be proceeds of fraud, and are seeking permanent forfeiture. The government said that over $262 million in victim funds were fraudulently accessed through the Himalaya Exchange, which includes the Himalaya Dollar and Himalaya Coin. However, Bradford L. Geyer, representing the plaintiffs, claims that unlike typical fraud cases involving cryptocurrency exchanges, Himalaya Exchange has not been indicted, and there is no evidence that customer funds were improperly managed. Geyer argues that his clients, including business owners, educators, healthcare workers, students, and corporate employees, were not defrauded by the Exchange but have suffered due to the DOJ’s actions.

FIS has launched a new trade matching solution for the UK securities finance market that addresses the industry challenges of tightening margins and increased volumes by ensuring efficiency and automation. The Securities Finance Matching Platform facilitates secure, scalable, and cost-effective straight-through processing of securities finance trades. The automated matching and execution platform is offered as a cloud-native solution providing a brand-new enhanced route to market that mitigates single-point-of-failure risk. The automated solution identifies the best-match scenario by automating the evaluation of multiple factors involved in securities trading including fee or rebate rate, capital requirements, transaction and reporting costs, as well as counter-party trading patterns. These enhanced capabilities will allow customers to achieve the greatest possible depth and liquidity in the market, all while enhancing risk management by mitigating single-point-of-failure risk. “Margins are tightening and market volumes are increasing” Nasser Khodri, Head of Capital Markets, FIS said: “In an industry where margins are tightening and market volumes are increasing, efficiency and automation have become paramount. Lenders and borrowers have been searching for a service provider that can offer superior, automated matching services, reducing manual intervention for the most economical outcome. FIS’ new solution, coupled with our scale and industry expertise, will be transformative in securities lending, and by unlocking financial technology to the world we will be helping these financial institutions to reduce costs, minimize risks, and enhance returns.” The solution, the newest component of the FIS Securities Finance and Collateral Management product suite, is swiftly gaining interest among financial institutions, with many UK clients expected to come on board in the coming months. Non-UK institutions will be able to join the Platform with the planned expansion into EU and U.S. markets, pending additional regulatory approvals. FIS launched embedded finance solution, Atelio In May, FIS launched Atelio, a platform that provides the building blocks for financial institutions, businesses, and software developers to embed financial services into their offerings. Modern software solutions have fundamentally changed how we pay, get paid, borrow money, and invest, placing financial offerings at the point of need. This trend is accelerating. The fintech provider stated that Atelio allows companies from all industries to create financial experiences such as collecting deposits, moving money, issuing cards, sending invoices, or leveraging the platform’s tools to fight fraud, forecast cash flows, or better understand customer behavior. According to FIS, three lighthouse clients – KeyBank, College Ave, and RoyalPay Inc. – are already building on Atelio, which enables users to embed financial services into their products and workflows in a secure and compliant manner. FIS spun off Worldpay Last year, FIS decided to spin-off Worldpay, its Merchant Solutions business to strengthen its strategic and operational focus, capitalize on growth opportunities, and unlock shareholder value, the payments giant announced. Charles Drucker, former FIS chief executive, was named as a strategic advisor to aid with the separation and ongoing business review and to become CEO of the Merchant Solutions business after the spin-off. The spin-off was be named Worldpay because it is believed to offer the best path to enhance shareholder value, including by: Increasing strategic and operational focus to capitalize on growth and margin potential Aligning capital allocation and capital structures with long-term growth targets and underlying market needs, including potentially participating in M&A Enhancing the ability to align talent with shareholder returns, including through competitive and focused equity compensation programs

Ctrl, the new identity of XDEFI, aims to simplify Web3 onboarding and enhance the user experience for millions. Learn more about this next-generation non-custodial wallet. Web3 wallet XDEFI has rebranded to Ctrl, a new non-custodial wallet designed to streamline onboarding and improve user experience. Ctrl aims to facilitate millions of users in accessing web3 and starting their on-chain journey effortlessly. XDEFI is now Ctrl (pronounced Control), introducing the next-generation Ctrl wallet. Currently, over 90% of crypto users are not on-chain. Ctrl aims to change this by enhancing the non-custodial wallet experience, enabling crypto enthusiasts to explore DeFi and web3 opportunities seamlessly. XDEFI CEO Emile Dubié said: “I believe self-custody is a fundamental right, and as a wallet provider, our responsibility is to make it accessible and secure for everyone. People should be able to have full sovereignty over their financial assets without the hurdles associated with traditional crypto wallets. “As of today, we are the wallet with the most chain coverage. We have spent more than a year building a user experience on top of this technical advantage to make our products as intuitive as apps like Revolut. Ctrl is set to be the premier tool for onboarding millions of new users, regardless of their knowledge about crypto.” Ctrl incorporates web2 features to address web3 challenges. By removing the need to pay for gas on every chain, Ctrl ensures a smoother onboarding process and improved user experience. Supporting over 1,800 networks, it offers the broadest blockchain coverage of any web3 wallet. Ctrl utilizes social login, eliminating the need for seed phrase storage and enabling secure authentication through Google or social media. This simplifies secure on-chain interactions and economic opportunities across thousands of blockchains. It also streamlines multiple wallet management and removes the necessity for gas tokens. The Ctrl wallet beta will launch in August, offering early adopters a chance to experience its features. The public can join the waiting list for the mobile beta at Ctrl.xyz. Current XDEFI users will have their wallets automatically upgraded to Ctrl. Additionally, the $XDEFI token will be converted to $CTRL on a 1:1 basis in the future. Since 2015, non-custodial wallet design has seen little evolution. Ctrl represents a significant advancement in web3 wallet usability. It will enable users to access DeFi and web3 services across multiple chains and manage their digital assets with ease. This development will pave the way for millions of new web3 users, providing a universal wallet for all on-chain activities. About Ctrl Ctrl (formerly XDEFI) is the first wallet to cover every blockchain on Ethereum (EVM), all Cosmos chains, Solana, Bitcoin, TRON, THORChain, and more. Since its launch in 2021, Ctrl has become a leading multi-chain wallet. The new Ctrl wallet builds on this success by integrating web2 features to make web3 accessible to everyone. Learn more here.

Apex Fintech has launched Apex Ascend, a real-time, cloud-native, B2B investment infrastructure designed to enable two fundamental powers for companies to differentiate in a time of rapid industry change: build nimble, run vast. The firm further explained: Build nimble means “empowering companies to develop faster and adapt as needed through modern developer tools, cloud-based infrastructure, real-time data and business intelligence, and capabilities (like expanding asset class coverage) that can be modified more easily when companies are ready to grow or pivot their offerings.” Run vast means “operating with enterprise-grade efficiency, including the ability to navigate and address risk mitigation issues through real-time data to inform risk decisions on a global scale — all backed by Apex Clearing Corporation, a custodian with a proven track record of success, trust and security.” Apex Ascend’s cloud-based infrastructure gives firms the built-in tools and data to more easily build, integrate, scale, and operate globally. The solution is promised to make clients more nimble and ready for the future, while improving their ability to operate efficiently and helping to navigate risk on a global scale. “What the future of investment infrastructure has to be” Bill Capuzzi, Chief Executive Officer at Apex, said: “Platform breakthroughs like this don’t come around every year or even every decade. But serving hundreds of financial service companies and 20+ million investors has taught us a thing or two about what the future of investment infrastructure has to be.” “Industry changes come for everybody — whether they are threats or opportunities — and Apex Ascend is how companies can more efficiently wield finite resources to adapt to meet those challenges. No matter the size of your enterprise, whether you’re a global brand or a future-focused startup — Apex Ascend is designed for the future of your business.” Apex Ascend features: Real-Time Ledger: Providing 24/7 API-based delivery for a range of account activities, balances, buying power, and much more. The real-time ledger acts as a single source of truth for real-time custody and clearing, aggregated data, and closer integration across the ecosystem of fintech solutions. Cloud Data and Business Intelligence Platform: With customizable automated reporting, visualizations, and more — Ascend’s cloud-native platform enables you to better integrate data and insights into your business and operations processes. Make faster and more informed decisions with custom dashboards and reporting on your own real-time data. Modern Developer Experience: Enables tech teams to build digital-first retail investment and trading solutions across asset classes, account types, investment solutions, and delivery models. With a modern portal with sandbox, SDKs, APIs, and UIs, clients can more efficiently build what they need when they need it. Real-Time Account Onboarding & Maintenance: Straight-through processing with a variety of funding methods available. Trading, Execution, and Order Management: Platform featuring fractional trading capabilities, smart order routing, and a built-in order management system providing pre-trade controls. Rebalancing Tools: Built-in customizable, cloud-scale solution for automated portfolio rebalancing, model management and goals-based investing across multiple asset classes. Automation and simplification at your fingertips with customizable exception reporting and intuitive tooling. Apex launched solution for financial advisors In early 2024, Apex Advisor Solutions, a subsidiary of Apex Fintech Solutions Inc., launched Apex Astra to empower advisors by integrating Apex’s flexible APIs and a robust advisor platform. Apex Astra, designed to meet the increasing demands for speed and quality in financial services, streamlines client onboarding and data access, enhancing the advisory experience. The solution simplifies account opening and accelerates access to decision-making data by integrating with various tech solutions like Orion and AdvisorArch, featuring capabilities like fractional trading, automated account opening, and AI enhancements. Apex Astra’s efficiency is evident in its intuitive navigation and customizable dashboard, which streamline workflow management. The platform facilitates tasks such as state-specific tax withholding calculations for RMDs and other withdrawals, enhancing the user experience. Apex Advisor Solutions provides digital custody and clearing services through Apex Clearing Corporation, a subsidiary of Apex Fintech Solutions Inc.

Equiti Capital has reported a 3% year-on-year increase in revenue, a profit margin of 4%, and a robust balance sheet with net assets growing by 3%, equivalent to $1.1 million. In its financial year on December 31, 2023, the UK FCA-regulated entity of Equiti Group reported steady results whilst maintaining focus on ongoing investments and initiatives despite a year marked by industry-wide challenges. The London-headquartered team, which appointed several talented industry professionals throughout 2023, stated these results highlight Equiti’s resilience and strategic focus during a difficult year for the financial industry.  Strong revenues at Equiti despite challenging market conditions in 2023 Liam Conway, CEO of Equiti Capital, said: “Notwithstanding challenging market conditions experienced across the industry, we maintained strong revenues with a healthy net profit margin of 4%. We have grown the UK office to drive local and group initiatives, adding new skills particularly across Development and Quantitative teams.” Equiti Capital acknowledged that its 2023 success was driven by the well-being of employees. The brokerage firm promotes a culture of equality and diversity that actively values difference, providing an inclusive workplace. In 2023, Equiti launched several initiatives to support the team’s collective success. After increasing both its revenue and net assets by 3% in 2023, and achieving a profit margin of 4%, Equiti Capital intends to further refine services and optimize internal processes. Equiti to make further announcements in H2 2024 For 2024, Equiti Group plans to broaden its reach into new territories and sectors through strategic acquisitions and the development of new services in payment technology, physical commodities, digital assets, and asset management. Several of these initiatives are expected to launch during the second half of 2024, the company stated. As to payment technology, Equiti is expected to leverage Cloud Invest, a digital payment technology provider acquired last year. Cloud Invest specializes in transaction management and digital payment solutions for banks, retailers, micro-finance, and other industries to enable seamless customer payment services. The firm provides Omni-channel payment solutions that cover traditional electronic payment transactions and support new digital transactions, including various payment methods, including cash, bank accounts, cards, d-cards, d-wallets, and RFID tags. For accountholders, Cloud Invest offers digital payment experiences across multiple channels, whether through mobile devices, web platforms, self-service kiosks, point-of-sale (POS) systems, or ATMs. Liam Conway appointed CEO of Equiti Capital in April It was in April that Equiti Capital UK announced the appointment of Liam Conway as chief executive with an eye on capturing further market share. With more than 20 years’ experience in finance across a diverse range of industries and companies including, Intercontinental Exchange Inc., Toyota, and Deloitte, Conway joined Equiti Capital UK in 2018 as the Chief Financial Officer (CFO) and also worked directly with the global Equiti Group when he was appointed Group Financial Controller in 2019 and then Deputy Group CFO in December 2021. In that role, he led initiatives and drove improvements in operational efficiencies that resulted in substantial cost savings and revenue growth for the Group. As chief executive of Equiti Capital UK, Liam Conway will work closely with the company’s management team, Equiti Capital’s UK board, as well as the Equiti Group’s global executive leadership team, to develop and execute Equiti Capital UK’s strategic objectives and drive its growth strategy. Equiti Capital UK Ltd, which is regulated by the UK’s Financial Conduct Authority (FCA, is one of the several Equiti Group entities that include: Equiti Securities Currencies Brokers – LLC regulated and licensed by the UAE’s Securities and Commodities Authority (SCA); Equiti Group Limited Jordan – regulated and licensed by the Jordan Securities Commission (JSC); EGM Securities Ltd – regulated and licensed by Kenya’s Capital Markets Authority (CMA); Equiti Brokerage (Seychelles) Limited – regulated and licensed by the Seychelles Financial Services Authority (FSA); Equiti AM CJSC – regulated and licensed by the Central Bank of Armenia; Equiti Global Markets – regulated and licensed by the Cyprus Securities and Exchange Commission (CySEC).

DigitalArray, a Bermuda-based fund platform for digital asset funds launched by AI Global Strategies, has selected Komainu as its custodian for all digital asset funds and strategies. Komainu will provide custody services to all funds offered through Bermuda-based fund platform. Komainu is owned by Nomura, CoinShares, and Ledger AI Global Strategies ISA (AIGS) serves as the platform manager for traditional and digital asset funds. Headquartered in Bermuda, the company is an incorporated segregated account of Alpha Innovations International ISAC Ltd. and is registered to conduct investment business by the Bermuda Monetary Authority under the Investment Business Act 2003. The partnership allows AI Global Strategies to leverage Komainu’s tailored and comprehensive third-party digital asset custody services. Komainu is a regulated digital asset custodian built by institutions for institutions and created as a joint venture between Nomura, digital asset manager CoinShares, and digital asset security company Ledger. Komainu is regulated by the Jersey Financial Services Commission (JFSC), the Dubai Virtual Assets Regulatory Authority (VARA), and holds an MLR registration with the UK Financial Conduct Authority (FCA) and an OAM registration in Italy. “Top-tier custodial services in the digital asset space” Darren Jordan, Chief Commercial Officer at Komainu, said: “We are excited to announce our new partnership with AI Global Strategies. AI Global Strategies is a true innovator in the digital asset management ecosystem, providing operational efficiencies, enhancing transparency and scalability, and streamlining decision-making for investors. This collaboration underscores our commitment to delivering top-tier custodial services in the digital asset space which meet the exacting standards of institutional clients.” Lawrence Newhook, CEO of AI Global Strategies, commented: “We built DigitalArray to provide our curated selection of digital asset managers with the quality infrastructure and service providers necessary for funds to be investible by institutional investors. Custody is of utmost importance in the digital asset space, and having a reputable and regulated custodian is required. Komainu’s regulated custody solution is a critical addition to our offering, helping us fulfill our mandate to empower investors with secure and reliable infrastructure, facilitating their access to and enhancing the security of the digital asset investment opportunities on our DigitalArray platform. We look forward to continuing to offer compelling new products on DigitalArray which both leverage and invest in the evolving blockchain ecosystem and are thrilled to be partnering with Komainu on these funds.” Fireblocks recently announced that Komainu is among the first five partners of its Fireblocks Global Custodian Partner Program, which provides a secure and seamless way to connect to licensed custodians across the globe. Other partners include CloudTech Group, Zodia Custody, Zerocap, and Rakkar. Komainu appointed Paul Frost Smith as co-CEO In May, Komainu announced the appointment of Paul Frost Smith as co-CEO, working alongside Robert Johnson who has been serving as interim CEO and has now been appointed as co-CEO on a permanent basis. The Komainu board of directors made the strategic decision to create a co-CEO role due to the highly complementary nature of each candidate’s skill set. With dedicated areas of ownership, the co-CEO structure will provide the breadth and focus required to capture the opportunity presented by the rapid growth in the digital assets market. Mr. Frost Smith’s career spans over 30 years in international financial markets, including recent experience of scaling digital asset businesses. In his most recent role, Frost Smith was co-founder and CEO of Corinthian, a leading digital asset investment management and advisory firm. His previous multi-strategy hedge fund, Castlegrove, was acquired by Millennium Management, LLC in 2008. In his role as co-CEO, he will focus on business strategy, development and expansion as well as providing innovative and tailor-made client solutions. Robert Johnson joined Komainu as Chief Technology Officer (CTO) in October 2023 and has been interim CEO since February. Rob has extensive financial services experience having previously served as CTO and Partner at Coremont, as well as 18 years on the trading floor at MUFG Securities. In his role as co-CEO, Rob will continue to spearhead the development of Komainu’s institutional-grade digital asset infrastructure and drive innovation and excellence across the full tech offering.

Zodia Markets, the prominent UK-headquartered digital asset trading business backed by Standard Chartered, has agreed to acquire Elwood Capital Management Ltd (ECML), Elwood’s Digital Asset OTC trading business based in Jersey and regulated by the Jersey Financial Services Commission. ECML will integrate Zodia Markets’ line of institutional-grade SaaS products and services, which include an Execution Management System (“EMS”) with advanced tools for accessing liquidity, and a Portfolio & Risk Management System (“PMS”) with portfolio management and risk capabilities. ECML provides OTC liquidity to asset managers and digital asset businesses ECML, Elwood’s OTC trading business provides liquidity solutions to its global client base spanning asset managers, token foundations, family offices, and leading digital asset businesses. The acquisition will solidify ECML’s regulated presence as it will now operate under Zodia Markets’ umbrella, which is registered by the UK’s FCA, Central Bank of Ireland, and approved in principle in Abu Dhabi Global Market. Following the completion of the transaction, the entity will be known as Zodia Markets Jersey Ltd. “To further capitalize on the global institutional demand for digital asset solutions” Usman Ahmad, Co-Founder and CEO of Zodia Markets, stated: “This acquisition is a significant progression to create greater diversification in our service offering and footprint, enabling scale and accelerating product capability. Building on our exceptional growth in the first half of the year, we are well-positioned to further capitalize on the global institutional demand for digital asset solutions. “Acquiring a successful, established business with a similar regulatory-first mindset allows us to extend our offering to the clients we will welcome and provide our existing clients with a broader suite of capabilities and value. Our commitment to driving sustained growth remains paramount, as we continue to innovate at the forefront of the digital asset sector and be the go-to trading partner for institutions.” Chris Lawn, CEO of Elwood, said: “This sale marks an important new chapter for Elwood and strengthens our position as a leading provider of execution and portfolio management software for global institutions that trade and manage digital assets. The sale of our OTC trading business supports Elwood’s strategic plan to build a world-class end-to-end EMS and PMS software platform and allows us to fully dedicate our resources to the SaaS business. In line with our vision, Elwood has been investing heavily in our software platform and we recently completed the build-out and integration of our new PMS with advanced capabilities.” “We are confident that our strategic partner Zodia Markets will continue to provide exceptional service to OTC clients and we will be working closely with them to ensure a smooth transition.” Zodia Markets and Fireblocks joined forces Zodia Markets recently partnered with Fireblocks to deliver a pioneering solution that leverages Zodia Markets’ multi-currency digital asset execution and the Fireblocks Network, a digital asset transfer platform for rapid digital asset transactions and dynamic payment workflows. The integration will streamline Zodia Markets’ electronic execution and settlement for clients, providing a more comprehensive cross-border value transfer offering. Zodia Custody recently launched its Interchange Connect, described as a ‘network of networks’ that integrates various institutional-focused digital asset custody solutions. It initially features integrations with Metaco, Fireblocks, and Copper’s ClearLoop network. This network aims to simplify the management of digital assets for institutional clients. It promises seamless and secure transfers across trading accounts and bank-grade security. By reducing counterparty risk and offering off-exchange settlement, it enhances the safety of digital asset transactions. CoinMENA tapped Zodia Markets for G10 and GCC liquidity CoinMENA partnered with Zodia Markets to provide its users with enhanced liquidity and reduced slippage on high-volume trades for G10 and GCC currencies versus a list of vetted and well-researched stablecoins and crypto assets. CoinMENA is a crypto asset platform where retail and institutional investors can buy, sell, send, receive, and store digital assets. Licensed by the Central Bank of Bahrain, the entity is the sister company of CoinMENA FZE, licensed by the Dubai Virtual Asset Regulatory Authority (VARA).

More news coming from Abaxx, the new global commodity futures exchange and clearinghouse based in Singapore, which launched on June 28. After connecting to Trading Technologies’ TT platform, Abaxx Exchange has now partnered with renowned trading platform CQG to further expand traders’ options to access its five physically deliverable futures contracts in liquified natural gas (LNG) and carbon markets, soon to be followed by solutions for battery metals. The exchange’s offering is designed to help market participants execute their energy transition strategies, with improved price discovery and enhanced risk management tools. “Top-tier connectivity for our shared customers” CQG is a leading global provider of high-performance technology solutions for market makers, traders, brokers, commercial hedgers, and exchanges. The new partnership will allow clients to trade Abaxx-listed benchmark futures on energy, metals, and other energy transition-focused commodities. Mike Glista, Senior Vice President at CQG, said: “CQG is dedicated to supporting exchanges with solutions that address the diverse needs of traders. Our partnership with Abaxx exemplifies this commitment to the broader trading community. The Abaxx team has consistently demonstrated its commitment to providing top-tier connectivity for our shared customers. We eagerly anticipate the growth of products and clearing services that will further enhance CQG’s presence in Asia.” Abaxx Exchange recently selected Eventus and ION, to provide the trade surveillance platform for the new marketplace and for secure post-trade clearing and risk solutions, respectively. CQG launched AI tool that predicted 80% of E-mini S&P 500 moves CQG partners with the vast majority of futures brokerage and clearing firms and provides Direct Market Access (DMA) to more than 45 exchanges through its global network of co-located Hosted Exchange Gateways. The trading platform provider serves as the front end for a variety of exchanges and is increasingly employed as the over-the-counter matching engine for important new markets. CQG’s server-side order management tools for spreading, market aggregation, and smart orders are unsurpassed for speed and ease of use. Its market data feed consolidates 85 sources, including exchanges worldwide for futures, options, fixed income, foreign exchange, and equities, as well as data on debt securities, industry reports, and financial indices. CQG recently launched an artificial intelligence (AI) and machine learning (ML) trading toolkit aimed at predicting futures market movements. CQG deployed the toolkit in a live trading environment after rigorous training and testing using historical data and obtained astonishing results: an 80% accuracy in predicting the direction of the E-mini S&P 500 futures contract. The development process tackled numerous challenges, including data storage and curation, integration of ML infrastructure with financial industry standards, and the optimization of the ML training pipeline for generative time series prediction. Clients can utilize encrypted files and cloud computing resources to create customized models, leveraging CQG’s technology for charting and trading. With a 40-year history of delivering sophisticated trading tools, CQG views this new ML offering as a natural extension of its mission to provide traders with the resources needed to make informed, strategic decisions in the market. CQG’s play in the algo space is not new. Since acquiring software from Blue Trading Systems (BTS), the firm launched CQG Algos, a suite of execution technologies that includes pre-assembled trading algos and a software development kit. The algos run server side, accessible through a CQG GUI or API. This is Kevin Darby’s department, the Quant leader who joined CQG in 2020. At last year’s FIA Boca, Kevin Darby explained how the algo execution platform performed. Better than a market order with larger order sizes, and “70% of the time we got orders done within the bid-offer spread”, he said. In today’s market, trying to execute large orders is not easy without incurring slippage. CQG Algos have been successful in onboarding clients that need to execute large orders with minimal slippage. All the tools are generally made to help people make better decisions and avoid getting hurt on the risk side, but CQG Algos is the firm’s first offering that has a very direct correlation to the amount of money clients save. “Transaction cost savings for the customer is real tangible money that goes straight to their bottomline. We believe our tools help customers make more money or not lose money. This is the first time that direct correlation says ‘if you use this, on average, these are the savings you’re going to see,” said Moroney. Yes to AI but not unleashing something unintended When questioned about the integration of AI products, both CQG executives were cautious, especially in the name of data privacy, although the “magic behind” ChatGPT and lesser-known language models, such as Meta’s LLaMA AI, is “super cool”. The process, however, is very expensive and time-consuming, according to Kevin Darby, who says CQG is exploring various ways that AI can help its clients at a measured pace – with an eye toward privacy, including how to apply AI to optimize algo execution, on algos like Arrival Price or VWAP. For CQG, he said, this approach is a lot less scary than unleashing some horrible chimera black box algo on our clients. “We’re definitely not doing that. We’re actively working on training algos with AI, in a careful and measured way.”  

Bankrupt cryptocurrency exchange FTX and the US Commodity Futures Trading Commission (CFTC) have agreed to a $12.7 billion settlement, resolving a 19-month-long lawsuit. The agreement, which comes after extensive negotiations, is now pending court approval, according to a July 12 filing. “The proposed settlement is an integral and valuable component of the debtors’ proposed chapter 11 reorganization plan,” said CFTC senior trial attorney Carlin R. Metzger and FTX CEO John J. Ray III. “It resolves ongoing litigation and disputes with one of the largest creditors of the debtors, avoids the cost and delay of further litigation, and mitigates a significant risk of diminution of the assets available for distribution to creditors.” The CFTC sued FTX, its former CEO Sam Bankman-Fried, and FTX’s sister trading firm Alameda Research in December 2022, accusing the firm of fraud and misrepresentations by marketing FTX.com as a digital commodity asset platform. The settlement agreement includes $8.7 billion in restitution and $4 billion in disgorgement. Notably, the CFTC did not seek a civil monetary penalty. FTX acknowledged the liability, stating: “Given the conduct, guilty pleas, and convictions of the FTX insiders, the debtors face very substantial potential liability to the CFTC.” The commodities regulator is the “most significant single creditor” in the Chapter 11 bankruptcy cases, according to FTX. A hearing on the settlement is scheduled for Aug. 6 in the Bankruptcy Court for the District of Delaware. The proposed reorganization plan would provide a 118% return for 98% of the creditors—those with claims under $50,000—based on the US dollar value of asset prices at the time of FTX’s bankruptcy filing in November 2022. However, many FTX creditors said they want to receive payouts in cryptocurrency, which would factor in the market’s 166% increase in market cap since the bankruptcy filing. Creditors are currently voting on their preferred payout method, with the voting deadline set for Aug. 16. US Bankruptcy Court Judge John Dorsey will make a final decision on Oct. 7. The lawyers argue that a jury found Bankman-Fried guilty of stealing at least $8 billion from FTX customers. Additionally, Bankman-Fried has been ordered to forfeit $11 billion and plans to appeal his sentence and conviction.

Craig Wright issued a legal disclaimer on the home page of his website, stating that he is not the pseudonymous creator of Bitcoin, Satoshi Nakamoto. The disclaimer cited the recent ruling from the United Kingdom High Court of Justice and directed website traffic to the summary of the findings presented by the Crypto Open Patent Alliance (COPA). The bulk of the disclaimer was the admissions that Wright was not the author of the Bitcoin white paper and that he does not hold a copyright to the technology outlined in the white paper. In 2023, Wright sued several Bitcoin developers, alleging that they violated his copyrights on some of the underlying technology for the distributed ledger system and claimed rights to the Bitcoin database. Wright had been making claims since 2016 that he was the fabled, pseudonymous creator of Bitcoin, Satoshi Nakamoto. The legal battle reached a crescendo in 2024 when COPA presented over 50 pieces of evidence dismantling Wright’s claims. During the trial, COPA called on forensic experts and onchain analysts to testify that Wright had produced a trove of elaborate forgeries and metadata that showed signs of tampering. Ultimately, Judge James Mellor agreed that COPA’s arguments proved that the creator of a highly technical system like Bitcoin would not make the careless errors found in Wright’s forgeries and distorted metadata, conclusively ruling that Wright was not Satoshi. Further legal troubles for Wright More recently, Wright’s assets were frozen by the United Kingdom’s High Court to help podcaster Peter McCormack recoup $2 million in legal fees spent in defense against a defamation lawsuit filed by Wright in 2019. Additionally, Judge Mellor recommended that Wright be investigated by the Crown Prosecution Service for perjury following the ruling from the United Kingdom’s High Court. Judge Mellor’s written ruling on July 16 indicated that Wright’s conduct warranted referral to Britain’s Crown Prosecution Service (CPS) to consider perjury charges. The judge explained that the perjury charges should be considered due to Wright’s false testimony during the COPA-initiated trial. Prosecution, an arrest warrant, or extradition could be pursued due to the seriousness of Wright’s actions and false claims. According to a legal document filed on July 5, the High Court of the United Kingdom issued Wright with a World Freezing Order. This order resulted in Wright’s assets being frozen to help podcast host and entrepreneur Peter McCormack, who was sued by Wright for libel in 2019. The freezing of Wright’s assets allowed McCormack to recoup around £1.5 million ($1.9 million) in legal fees incurred in the libel case. On May 23, Judge Mellor issued a detailed ruling in the COPA-initiated case, dismantling Wright’s fabricated evidence and assertions regarding his true identity. COPA’s legal team presented a range of evidence and expert testimony exposing Wright’s false evidence and the inconsistencies in his proof of identity claims.

The Financial Commission has announced the admission of PU Prime as the newest approved Member of the self-regulatory forum. The brokerage firm is the latest to join the ranks of FinaCom amid increased interest and demand for independent external dispute resolution (EDR) services among FX industry participants. The Financial Commission provides unbiased 3rd party mediation to resolve disputes between brokers and their clients in instances when parties are unable to directly come to an agreement. FinaCom helps facilitate a simpler, swifter resolution process than through typical regulatory channels such as arbitration or local court systems. The organization not only mediates disputes but also provides execution certifications for approved brokers to mitigate execution-related disputes before they evolve into formal complaints. PU Prime users get protection for up to €20,000 per complaint Founded in 2016, PU Prime is a CFD broker offering access to over 900 instruments, including forex, indices, commodities, shares, bonds, and ETFs. As an Approved Broker Member of the Financial Commission since July 16th, 2024, PU Prime and its customers have access to a wide range of services and membership benefits including, but not limited to, protection for up to €20,000 per the submitted complaint, backed by the Financial Commission’s Compensation Fund. PU Prime joins a diverse range of brokerages and independent service providers (ISPs) within the CFD, foreign exchange (forex), and cryptocurrency markets, that utilize the services of FinaCom. Vantage Trading joined FinaCom in July The independent external dispute resolution (EDR) body recently announced the addition of multi-asset broker Vantage Trading as its latest member effective July 4, 2024. Vantage Trading is a global multi-asset CFD broker offering over 1,000 financial instruments, including forex, stocks, commodities, indices and ETFs.  “The platform emphasizes security, competitive spreads and advanced trading tools.  It also provides educational resources, a demo account for practice and 24/7 customer support.  Vantage Trading is committed to providing a reliable trading experience,” the statement reads. Earlier in March, the Financial Commission released insights from its 2023 case studies, spotlighting the main themes and results in disputes between traders and financial service providers. The results show the relevance and necessity of such organizations in today’s trading environment. In May, the Financial Commission appointed Aytugan Khafizov Founder and CEO of FastMT to its Dispute Resolution Committee (DRC). He is the 37th industry expert to join the Financial Commission’s DRC since its inception in 2013. The DRC consists of a diverse panel of industry professionals, who follow a non-bias protocol to process and resolve complaints from members’ clients. Aytugan joins the Financial Commission during a time of expansion for the self-regulatory association. The commission recently added several new members to its existing roster. FinaCom does not offer funds recovery or chargeback services The Financial Commission recently alerted the public to a scam involving fake FinaCom representatives. These impostors falsely claimed to be affiliated with FinaCom, aiming to exploit individuals who have suffered at the hands of illegitimate brokers. This alert follows a previous notice dated December 15, 2023, highlighting concerns over similar fraudulent activities. The scam targets traders who have encountered issues such as lost funds or blocked withdrawals with brokers including Umarkets, TPG Deals, Universe Financial Brokers, Kiexo, Izzi, Your Global Deal, among others. The fraudsters offered recovery and chargeback services for a fee, pretending to be employees of FinaCom. They also issued bogus letters of guarantee using the names of non-existent legal firms like Orbital Limited, Arbitrum Law Firm, AK Law, Guardians Recovery, and more. FinaCom stated that it does not offer funds recovery or chargeback services, nor does it engage in unsolicited communication with traders. Official interactions originate only from inbound inquiries through their website, financialcommission.org. The Commission also clarified that it never uses social networks or messengers for official communications, issues letters of guarantee, charges fees for its services to traders, or serves customers of non-member brokers. How to file a complaint against a broker Traders are urged to verify communication authenticity by checking for secure links to the Commission’s website and the official email address, info@financialcommission.org. Customers can check if their broker is a FinaCom member through this link: https://financialcommission.org/members/participating-members-of-the-financial-commission/ To file a complaint against a broker, traders can go through this link: https://financialcommission.org/resolving-a-dispute/how-to-file-a-complaintdispute/dispute-resolution-form/ The Financial Commission stands as an independent EDR forum, aiming to resolve disputes between consumers/traders and their financial service providers who are members of the Commission. It initially focused on disputes in electronic market trading, such as Forex, before expanding to CFDs, related derivatives, and certifying trading technology platforms.

The global cryptocurrency market has showcased extraordinary resilience and growth, reaching an impressive total market capitalization of US$2.27 trillion by mid-2024. This represents a significant 37.3% increase since the beginning of the year, driven by technological advancements, increased institutional participation, and evolving regulatory frameworks. Binance Research’s comprehensive Half-Year Report 2024 provides an in-depth analysis of these developments and their implications for the future of digital assets. Layer-1 Networks: Building the Foundation of the Future Bitcoin’s Continued Ascendancy: Bitcoin has solidified its position as the market leader, with its growth fueled by several key factors. The fourth Bitcoin Halving, which reduced the block reward from 6.25 BTC to 3.125 BTC, has tightened supply and increased scarcity, contributing to price stability and growth. Additionally, the successful launch of multiple U.S. spot Bitcoin ETFs has injected over US$14 billion into the market, attracting a new wave of institutional investors. “Bitcoin’s performance this year has set a robust tone for the entire crypto market, reinforcing its status as a digital store of value,” stated the Head of Research at Binance. Ethereum’s Technological Advancements: Ethereum has continued to lead in innovation, driven by the implementation of EIP-4844 and the rapid expansion of the restaking market. These advancements have significantly improved Ethereum’s scalability, reducing transaction fees and enhancing throughput. The restaking market, in particular, has introduced new ways for users to earn rewards by securing multiple applications, further solidifying Ethereum’s position as the leading smart contract platform. Other Layer-1 Innovations: Beyond Bitcoin and Ethereum, other Layer-1 networks like BNB Chain, Solana, and Avalanche have also made significant strides. BNB Chain has focused on scalability and decentralization with the development of opBNB and Greenfield. Solana has excelled in the memecoin space and launched blockchain links (“blinks”) to enhance interoperability. Avalanche has continued to innovate with its subnets, expanding its ecosystem and attracting new users. Layer-2 Solutions: Scaling New Heights The Layer-2 ecosystem has experienced unprecedented growth, with the total value locked (TVL) reaching US$43 billion, marking a 90% increase within just six months. This surge is attributed to the development of roll-up technologies and state channels that have dramatically reduced transaction costs and increased processing speeds. Notable Layer-2 solutions like Arbitrum, Optimism, and the newly launched Blast have played pivotal roles in this expansion, offering scalable solutions that maintain the security and decentralization of the underlying Layer-1 networks. Arbitrum’s Market Leadership: Arbitrum has retained its position as the leading Layer-2 solution, boasting the highest TVL among its peers. The Arbitrum Orbit stack has attracted several prominent projects, including ApeChain and AnimeChain, which leverage its technology to build robust decentralized applications (dApps). Optimism and Base: Optimism has continued to grow, supported by the launch of Base, which has quickly become a significant player in the Layer-2 space. These optimistic roll-ups have proven effective in reducing gas fees and increasing transaction throughput, making Ethereum more accessible to a broader audience. Decentralized Finance (DeFi): Revolutionizing Finance The DeFi sector has continued its explosive growth, with the total value locked rising to US$94.1 billion, up 72.8% year-to-date. This growth has been driven by the introduction of innovative financial instruments and services that democratize access to financial markets. Liquidity Pools and Automated Market Makers (AMMs): Innovations in AMMs and liquidity pools have enabled users to trade assets in a decentralized manner without the need for traditional intermediaries. These technologies have enhanced market efficiency and provided liquidity to a wide range of assets. Synthetic Assets and Yield Farming: The creation of synthetic assets has allowed users to gain exposure to traditional financial instruments in a decentralized manner. Yield farming has become increasingly popular, offering users high returns through staking and providing liquidity to various DeFi protocols. Stablecoins: Restoring Confidence The stablecoin market has shown remarkable resilience, nearing its pre-crash peak with a current market cap of 161 billion USD. This resurgence is largely driven by increased demand for stable, fiat-pegged digital currencies that offer stability amidst the volatility of the broader crypto market. USDT and USDC Leading the Market: Tether’s USDT and Circle’s USDC have continued to dominate the stablecoin market, expanding their market share significantly. These stablecoins are widely used for trading, remittances, and as a safe haven during market downturns. Emerging Stablecoins: New entrants like Ethena’s USDe and Paypal’s PYUSD have also gained traction, offering users more options for stable digital currencies. The diverse stablecoin ecosystem has contributed to overall market stability and increased adoption. Non-Fungible Tokens (NFTs): Evolving Use Cases The NFT market has evolved beyond digital art, exploring new use cases in identity verification, content monetization, and virtual real estate. Despite market fluctuations, strategic innovations and partnerships have maintained user engagement and investment interest. NFT Marketplaces and Physical Integration: Leading NFT marketplaces like Blur have introduced features that integrate physical items with digital assets, enhancing the utility and appeal of NFTs. Projects like Pudgy Penguins have successfully bridged the gap between physical and digital worlds, offering collectible toys alongside digital assets. Identity and Content Monetization: NFTs are increasingly used for identity verification and content monetization, providing new ways for creators to engage with their audiences and monetize their work. This trend is expected to grow as more platforms adopt NFT technology. Social Finance (SocialFi) and Web3 Gaming: Bridging Interaction and Finance SocialFi platforms are blending social media functionalities with financial capabilities, offering users innovative ways to interact and transact within digital communities. Meanwhile, Web3 gaming has emerged as a significant industry, with blockchain-based games creating decentralized economies where players can own and trade in-game assets. SocialFi Innovations: Platforms like Lens Protocol and Farcaster have introduced new models for blockchain-based social interaction, fostering robust community engagement and providing users with financial incentives for participation. Blockchain Gaming: Web3 gaming projects like Pixels and Hamster Kombat have attracted large numbers of players with innovative gameplay and token rewards. These games offer decentralized ownership of in-game assets, enhancing player engagement and investment. Regulatory Developments and Macro-Economic Factors The cryptocurrency market’s growth has been supported by significant regulatory developments in key jurisdictions. Regulatory clarity has improved market stability and attracted institutional investors, reducing systemic risks associated with digital asset investments. Institutional Adoption: Increased regulatory clarity has led to a wave of institutional adoption, with hedge funds, pension funds, and asset managers increasingly investing in cryptocurrencies. The approval of spot Bitcoin ETFs in the U.S. has been a pivotal moment, providing a straightforward way for institutional investors to gain exposure to the crypto market. Global Economic Factors: Macroeconomic factors such as inflation and changes in monetary policy have influenced the crypto market. Cryptocurrencies are increasingly viewed as a hedge against inflation and a viable alternative to traditional financial systems, driving demand from both retail and institutional investors. Future Outlook: Anticipated Trends and Innovations Looking ahead to the second half of 2024, Binance Research identifies several key themes expected to shape the cryptocurrency market’s trajectory. These include technological advancements in quantum computing, the integration of blockchain solutions in non-financial sectors, and the increased adoption of cryptocurrencies as legal tender. Quantum-Resistant Cryptography: As quantum computing advances, the need for quantum-resistant cryptographic methods is becoming more pressing. Research and development in this area are expected to accelerate, ensuring the security of blockchain networks in the quantum era. Blockchain Integration in Non-Financial Sectors: Blockchain technology is poised to make significant inroads into non-financial sectors such as healthcare, supply chain management, and real estate. These integrations will enhance transparency, efficiency, and security in various industries. Sovereign Digital Currencies: Several countries are exploring the issuance of sovereign digital currencies, which could further legitimize and mainstream the use of digital assets. These developments will likely drive increased adoption and integration of cryptocurrencies into the global financial system. Expert Commentary and Industry Perspectives “The remarkable growth of the cryptocurrency market in the first half of 2024 is a testament to the sector’s maturity and its increasing integration with traditional financial systems,” commented the CEO of Binance. “We expect the market to continue on this trajectory, driven by innovation, regulatory clarity, and growing institutional interest.” About Binance Research Binance Research provides industry-leading insights and in-depth analysis of cryptocurrency markets, project developments, and blockchain advancements. Our mission is to foster greater transparency and informed decision-making within the cryptocurrency space.

Ava Protocol’s mainnet launch on Ethereum, introducing automated Web3 transactions with enhanced smart contract capabilities. Explore the integration with EigenLayer AVS and its impact on dapp development. Ava Protocol, a Web3 infrastructure project, has officially launched its mainnet on Ethereum, utilizing EigenLayer AVS for smart contract automation. This significant development enables developers to integrate Ava Protocol’s advanced transaction automation, privacy, composability, and cost-efficiency into their decentralized applications (dapps) and projects, ensuring broad compatibility across the Ethereum Virtual Machine (EVM) ecosystem. Ava Protocol’s event-driven activation model simplifies complex on-chain operations by triggering autonomous “super-transactions” based on predefined conditions such as time, price, and smart contract updates. This streamlined approach to smart contract automation reduces friction for both developers and end-users, addressing a significant barrier to Web3 adoption with user-friendly, Stripe-like simplicity. Super-transactions require no custom code, making implementation straightforward for developers. Ava Protocol launches as an Actively Validated Service (AVS) on EigenLayer. AVSs offer developers capabilities beyond the limitations of the Ethereum Virtual Machine, providing advanced on-chain automation with strong execution guarantees for time-sensitive transactions and multi-step processes. This includes scheduling future and recurring payments, stop-loss and limit orders, streaming rewards, dynamic NFT minting, and more, making it a versatile tool for dapps. Chris Li, Founder of Ava Protocol, said: “With the support of our partners and community, we’ve reached a pivotal moment in our mission to deliver automated super-transactions on Ethereum. The launch of Ava Protocol’s mainnet will unlock new use cases for autonomous transactions that power smart contracts. We’re excited to showcase the versatility of EigenLayer’s AVS technology while addressing critical web3 automation challenges.” Ava Protocol is among the first 15 projects to launch an AVS, leveraging pooled security from Ethereum validators via EigenLayer’s restaking mechanism. The protocol is launching with 20 EigenLayer operators, sourced from the top 100 operators by Total Value Locked (TVL), including EigenYields, InfraSingularity, Kukis Global, Coinage, and Staking4All. Alex of EigenYields, a leading operator that runs actively validated services for EigenLayer, said: “We see immense potential in Ava Protocol’s automated super-transactions, and are thrilled to provide a secure and resilient foundation for this innovative technology. This aligns with our mission to maximize value for our delegators by pushing the Ethereum ecosystem forward.” Sam Shev, Ava Protocol Head of Marketing, added: “We’re excited to bring Ava Protcool’s technology to a live environment for the first time and to see what our community will build using super-transactions. Thanks to the EigenLayer operators who have joined us on this mission, Ava Protocol will launch with a strong foundation to anchor everything that comes next.” The Ava Protocol mainnet launch follows a successful testnet phase, which involved 10,000 wallets and generated more than 1,000 automated transactions daily. Ava Protocol will soon publish a detailed plan for AP token incentives aimed at initial operators, further enhancing its ecosystem. Ava Protocol’s mainnet launch marks a significant step forward in Web3 transaction automation, providing developers with advanced tools to enhance their dapps. By leveraging EigenLayer AVS, Ava Protocol is poised to drive innovation and efficiency in the Ethereum ecosystem. About Ava Protocol Ava Protocol offers advanced Web3 infrastructure for cross-chain automation, enabling composable and autonomous transactions. This innovative technology allows developers to quickly deploy powerful decentralized applications (dapps), enhancing efficiency and user-friendliness. Ava Protocol empowers Web3 builders to create high-performing solutions with ease. Twitter | Discord | LinkedIn | Telegram | YouTube

EURJPY currency pair can be expected to rise further toward the next resistance level 174.00. – EURJPY reversed from support area – Likely to rise to resistance level 174.00 EURJPY currency pair recently reversed up from the support area located between the key support level 171.66 (which is the former strong resistance from April, as can be seen below from the daily EURJPY chart below), 20-day moving average and the 50% Fibonacci correction of the previous sharp upward impulse wave 1 from the middle of June. The upward reversal from this support area created the two daily Japanese candlesticks reversal patterns Doji – highlighting the strength of this price level. Given the clear daily uptrend and the continuation of the bearish yen sentiment seen today, EURJPY currency pair can be expected to rise further toward the next resistance level 174.00. EURJPY The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff. The information does not constitute advice or a recommendation on any course of action and does not take into account your personal circumstances, financial situation, or individual needs. We strongly recommend you seek independent professional advice or conduct your own independent research before acting upon any information contained in this article.

XTransfer has received in-principle approval (IPA) from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) license, which allows XTransfer to provide services including account issuance, domestic money transfer, cross-border money transfer, and e-money issuance. The cross-border trade payment platform is set to introduce comprehensive e-business wallet services in Singapore, including account opening, top-up options, currency exchange services, and cross-border fund collection and payment solutions. Tailored specifically for small and medium-sized enterprises (SMEs) engaged in global trade, XTransfer’s e-business wallet services not only enhance trade facilitation between SMEs in China and Singapore but also facilitate smooth foreign trade transactions between Singaporean companies and their global counterparts. XTransfer to extend endeavor to Southeast Asia Bill Deng, Founder and CEO of XTransfer, commented: “We’re thrilled to have received IPA from the MAS. This approval marks a pivotal moment for us to strengthen our presence in Singapore and the region. Singapore, as the hub of Southeast Asia, enjoys a strategic geographic advantage, not only as an international financial centre but also as a leading centre of international trade, with one of the world’s top-ranked ports. In the following period, our focus will be on the prompt deployment of our localised solutions to cater the needs of Singaporean SMEs. Subsequently, our endeavour will extend to Southeast Asia, utilising technology to help SMEs efficiently participate in global trade and enhance their global competitiveness.” XTranscer was founded in 2017 and has grown to cater to over 450,000 enterprise clients in China with low-cost cross-border trade payment and fund collection solutions. Earlier this year, the company officially launched its international service. Trading companies worldwide are now starting to use XTransfer, which helps sellers address the challenging issue of fund collection and also caters to the global buyer side. When both buyers and sellers use XTransfer accounts, they can achieve secure and compliant 24/7 payment settlement, potentially saving 95% on remittance fees and 20% on currency conversion costs. This facilitates uninterrupted fund circulation throughout the entire trade process. In May, XTransfer partnered with TerraPay to leverage its global payments infrastructure to further enhance its service offerings. Customers will be able to execute local payments on a global scale and settle payments in local currencies across 136 countries and regions, including emerging markets such as Africa, Latin America, and Southeast Asia. TerraPay boasts an extensive cross-border payments network regulated in 31 global markets and enabling payments to 144+ receive countries, 210+ send countries, 7.5Bn+ bank accounts, and 2.1Bn+ mobile wallets. XTransfer making moves in the US, Thailand, Pakistan, Vietnam XTransfer is rapidly expanding across the globe and is preparing an official launch in the United States, having last week secured payment licenses in Delaware, Florida, and Colorado. XTransfer has built a unified global multi-currency clearing network and built a data-based, automated, Internet-based, and intelligent anti-money laundering risk control infrastructure. Having partnered with top-tier names such as JP Morgan, Deutsche Bank, DBS, and VISA, XTransfer allows SMEs to enjoy the same level of cross-border financial services as large multinational corporations. XTransfer intends to better address the pain points encountered in cross-border transactions between China and the US. In February, XTransfer executed its first onshore Thai Baht (THB) trade in Thailand by utilizing the latest Bank of Thailand’s Non-Resident Qualified Company (NRQC) rules. The trade was facilitated by Deutsche Bank. Payments in THB are converted to Hong Kong Dollars (HKD) and Renminbi (RMB) before being transferred to XTransfer’s international accounts. XTransfer’s CEO attended the 54th Annual Meeting of the World Economic Forum in Davos in Switzerland earlier this year intending to prepare the company’s expansion into Pakistan and Vietnam.

Bitcoin’s network went live in October 2008, but the first block was mined in January 2009, with Satoshi’s famous embedded message, “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.” Fast forward to today, BTC ‘the asset’ has grown into a market capitalization of $1.2 trillion and is now accessible to some of the largest fund managers in the U.S. following the approval of the Bitcoin Spot ETF earlier this year. BlackRock, which recently surpassed a record AUM of $10 trillion, is among the institutions that have been aggressively investing in BTC after the SEC’s green light. But amidst this success, one cannot help but notice that Bitcoin ‘the network’ has not thrived as much as BTC.  While Bitcoin’s Layer 1 has proven to be the most resilient with no downtime since its inception, it suffers largely from scalability issues. This shortcoming has contributed to Bitcoin lagging behind other Layer 1 networks such as Ethereum and Solana, which are designed to support decentralized applications (DApp) programmability and also address scalability to some extent. For context, Bitcoin’s Layer 1 only enjoys a total value locked (TVL) of $690 million; this is a drop in the ocean compared to Ethereum, which has a TVL of $57.4 billion, or Solana, with $4.6 billion as of this writing. Why Bitcoin’s Network is Yet to Witness Mainstream Adoption Bitcoin’s whitepaper is titled ‘A Peer-to-Peer Electronic Cash System,’ an inspiration that was likely derived from the prevailing chaos that led up to the 2008 financial crisis. Satoshi intended to create a form of money that was free from central authorities; over half a decade later, Bitcoin can only process 3-7 transactions per second (TPS), which is merely a handful compared to Visa’s 1500-2000 TPS. The slowness in Bitcoin’s transaction processing is one of the main reasons why this pioneering digital asset and network have yet to rise to the levels of payment multinationals. To add to it, transactions on the Bitcoin blockchain can cost more than traditional payment systems. This was the case recently with the Ordinals and Runes hype when the average transaction fee hit record highs of $37. Would it make economic sense to transfer $100 using a network where almost half the amount goes to fee payments? Lack of Smart Contracts  Another reason why Bitcoin’s network is struggling to unlock the over $1 trillion in idle BTC assets is because it does not support smart contracts or DApp development. Moreover, Bitcoin’s core architecture was designed based on the principles of security and decentralization, which means it lacks the third aspect of the blockchain trilemma; scalability. These two factors make the Bitcoin network unsuitable for building DApps or other types of applications that could attract more liquidity.  Cultural Alignment  Bitcoin’s community is famous for being the OGs of crypto, but despite this being a unifying factor, it has also led to some type of segregation. On one hand, there are some OGs who believe that the recent ‘Build on Bitcoin’ initiatives fueled by Ordinals and Inscriptions are a waste of the limited space on Bitcoin’s blockchain. On the other hand, there are some stakeholders, including miners, who support developments on the Bitcoin network mainly because of the increased fees they generate. Others who fall within the ‘Build on Bitcoin’ pro group believe the recent activity could be key to unlocking Bitcoin’s potential in supporting a global trustless financial ecosystem that is accessible by everyone. What Does the Future Hold?  The future is bright for Bitcoin, not just as a store of value (SoV) but as a network that will support the next era of financial innovations. For starters, there has been notable activity over the past year, with more developers joining the network, thanks to the Ordinals and Runes momentum. But what’s more intriguing are DApp-oriented ecosystems such as the Zeus Network, which are solving the interoperability gap between Bitcoin and super active DeFi chains like Solana. This chain-agnostic network aims to onboard the next billion users to Web3 and is already doing so through its first DApp, APOLLO. Technically, it is possible to transfer BTC to Solana through this DApp in the form of zBTC. Bitcoin Layer 2 solutions are also forging a future where Bitcoin could rival the likes of Ethereum in smart contract development or payment processing. Good examples of L2 projects that are building on Bitcoin include Stacks and the Lightning Network. The former was launched in 2017 with the main goal of bringing smart contracts to Bitcoin while leveraging the network’s unrivaled security. Today, there are over 10 DApps built on Stacks, totaling a TVL of $96 million. As for the Lightning Network, it is perhaps one of the most notable innovations. This protocol uses smart contracts to introduce a faster payment solution for BTC transactions. It can handle up to 1 million TPS, which explains why user growth has surged by over 1000% within the past two years. Conclusion  There have been multiple crypto projects that launched after Bitcoin, but what’s worth noting is that BTC is still king. The fundamentals laid out by Satoshi in the whitepaper are time-tested, unlike Ethereum, which underwent a fork, or Solana’s infamous network halts. This being the case, it makes sense for more developers across the crypto realm to focus on making Bitcoin’s liquidity more active. This can only be done by solving the innate challenges, which include scalability, interoperability, and DApp support. The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff.

Over the past six months, the crypto market has forged an incredible recovery, with the industry’s total market capitalization scaling up to an incredible $2.89 trillion earlier in March. Amid this growth, two projects, alongside their native tokens, have made immense strides. They include the Session Network and TON (The Open Network), with both platforms placing special emphasis on decentralized communication and finance.  This article will explore some of the key differences between the two offerings, focusing, particularly, on their privacy features and scalability potential. So, without any further ado, let’s get straight to the meat and bones of things. Privacy features en masse – A deep dive When it comes to privacy, both Session and TON offer unique solutions but with different emphases and approaches. For instance, TON — initially developed by the team behind the popular messaging service Telegram — places a strong emphasis on privacy within its blockchain infrastructure.  It utilizes a proof-of-stake (PoS) consensus mechanism, which inherently provides a degree of privacy by not revealing the identity of its validators. Additionally, by utilizing the TON Connect module, users have explicit control over the data they share, i.e., the info is not susceptible to any sort of leakage during app and wallet transfer.  In fact, to reinforce this design, wallets and apps employ strong cryptographic authentication systems that work together. However, it’s important to note that while TON provides these privacy features at the blockchain level, it doesn’t offer the same level of encryption for messaging as Session does. To elaborate, Session employs end-to-end encryption for all its internal communication, ensuring that only the intended recipients can read the messages. Furthermore, Session implements ephemeral messaging, allowing users to set self-destruct timers that leave no trace of the conversation.  Perhaps most importantly, Session doesn’t require users to provide a phone number or email address to create an account, offering a level of anonymity that surpasses most other messaging platforms in the market today. Another one of Session’s standout features is its use of onion routing. Similar to the Tor network, this technique routes messages through multiple nodes within its network, making it extremely difficult to trace the origin or destination of any given message.  This approach not only protects the content of all the messages being relayed but also shields its associated metadata – i.e., the information about who is communicating with whom, when, and how often – from potential surveillance. Lastly, Session Network’s functionality and scalability are enabled by a set of incentivized nodes called ‘Session Nodes.’ They are responsible for storing messages, routing them, securing and governing the network, and maintaining the work chain. A full node requires a stake of Session Tokens and a minimum level of computational resources (bandwidth, storage, and processing time) to the network. These resources are used to enable the function and network security of Session. In return for their services, node operators receive rewards from the staking reward pool. An analysis of scalability and performance  While privacy is undoubtedly crucial in today’s rapidly evolving blockchain landscape, the ability to handle a large number of transactions quickly and efficiently is equally important for any network aiming to garner widespread adoption. Both TON and Session have made immense strides in this area but with different approaches and results. TON, for example,  boasts an impressive theoretical scalability, claiming the ability to process millions of transactions per second. This is achieved through its unique multi-blockchain architecture and dynamic sharding mechanism.  The TON network consists of a master chain and multiple work chains, each capable of operating independently. This structure allows for parallel processing of transactions across different shards, significantly increasing the network’s overall throughput. Moreover, TON’s design allows for “infinite sharding,” where the network can automatically split into smaller segments as demand increases, allowing for unlimited scalability on paper. This approach also helps keep transaction fees low, as the increased capacity prevents network congestion that often leads to higher fees on other blockchain platforms. The Session Network and its associated cryptocurrency (i.e. Session Token), on the other hand, are set to launch on Arbitrum One, a leading Ethereum Layer 2 scaling solution known for its proven performance, reliability, and security.   Arbitrum’s drastically reduced gas fees (around $0.0008) and high transaction throughput capacity (of approx. 40,000) allow for the facilitation of various transactions (such as staking)  on an Ethereum-backed blockchain — one of the most widely used crypto networks in the world — with much lower costs.  Technically speaking, the Session Token contract itself exists on the Ethereum blockchain, while staking and rewards are distributed via Arbitrum One, making it possible to bridge the token between the two layers seamlessly.  Defining the token utility of the two platforms TonCoin and Session Token represent two distinct approaches to cryptocurrency integration within their respective platforms. TonCoin facilitates various functions within the TON ecosystem, including dApp operation, transaction processing, network security through staking, and governance via TON VOTE.  In contrast, Session Token stands as the backbone of its associated messaging app, which has carved out a niche in the privacy-focused sector with nearly 1 million active users. Set to launch sometime during Q3/Q4 2024, the token is designed to power a decentralized, end-to-end encrypted messaging platform. It can also be used for subscribing to Session Pro (a feature that allows users to unlock custom sticker packs, increased file sizes, and custom emojis), making registrations via the Session Name Service, and staking to run Session Nodes (earning lucrative rewards in the process).  Simply put, both assets are designed to onboard new users into the Web3 ecosystem, but their approaches differ.  A new era of decentralization is upon us From the outside looking in, the TON blockchain offers impressive theoretical scalability while supporting private smart contracts. Similarly, Session, while also offering an amazing transaction throughput rate, stands out due to its robust privacy features at the application level, particularly in relation to its messaging platform.  Therefore, as the digital currency realm continues to evolve, both projects seem to be demonstrating a high degree of innovation in balancing privacy, security, and performance within their respective decentralized networks. The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff.