Crypto Guides, Knowledge & Insights

Countdown to WikiEXPO Dubai 2024 — “Seeing Diversity, Trading Safely”

The exhibition will cover popular sectors including forex, digital assets, online trading, and financial technology. Additionally, WikiGlobal will introduce several events focusing on trading security amid the diverse trends in investment development. Renowned influencers and industry elites from the global investment arena will gather at the WikiFX Community to share their professional insights and experiences, helping investors grasp market dynamics and investment opportunities better.　　Since its launch, the WikiFX Community has attracted widespread attention from industry insiders. As the WikiEXPO Dubai approaches, the platform will host a variety of online and offline events, providing more business opportunities and avenues for participants. Companies are encouraged to collaboration with WikiFX to share resources, expand business networks, and create a more open industry ecosystem, collectively building a healthier and more trustworthy financial market environment.　　The expo is expected to attract over 6,000 attendees, including nearly 100 prominent figures and industry leaders. They come from hot sectors such as forex, digital assets, online trading, and Fintech, bringing cutting-edge information and deep insights.Strong Guest Lineup (Partial List)　　▶ Braden Perry：Partner - Kennyhertz Perry Arbitrator - NFA&FINRA　　▶ Dr. Mohamed Damak: Sector Lead Financial Institutions & Global Head of Islamic Finance　　▶ Hasnae Taleb: Mintiply Capital Managing Partner　　▶ Gustavo Antonio Montero：Founder&Chairman

2024-11-22Deep Dive

WikiBit Industry Insights: Key Crypto Market Trends and Updates

Crypto Market Updates　　This Weeks Hot Topics　　• BTC Reaches New All-Time High: Bitcoin (BTC) has surged to a new peak, touching $97,852 USDT.　　• BlackRock‘s Spot Bitcoin ETF Options Launch on Nasdaq: The official listing of options trading for BlackRock’s spot Bitcoin ETF on Nasdaq has propelled BTC prices upward.　　• Solana Meme Tokens Maintain Momentum: The popularity of Solana-based meme tokens remains strong, with platforms like pump.fun achieving record daily revenues.　　• Decentralized Science (DeSci) Gains Traction: The DeSci sector is attracting market attention, bolstered by endorsements from industry leaders CZ and Vitalik.Market Environment　　This week, BTC‘s price continued its ascent, reaching a new high of $97,852. The introduction of spot BTC options has contributed to this upward trend. The ETH/BTC exchange rate has declined, hitting a low of 0.03187. Historically, BTC’s dominance increases following new highs; currently, BTCs market share stands at 60.49%. Stablecoin market capitalization has reached $186.62 billion, marking a $4 billion increase over the past week.　　The meme token sector is experiencing heightened enthusiasm, with pump.fun reporting record daily earnings, though daily trends are shifting rapidly. The DeSci sector is gaining attention, primarily due to Binance Labs investment in BIO Protocol. CZ has expressed interest in biotechnology adoption, and both CZ

2024-11-21Deep Dive

Solana-Based Trading Terminal DEXX Hacked, Over $21M in User Losses

In the early hours of January 16, the on-chain trading terminal DEXX suffered an attack, with multiple users confirming that their funds were transferred. According to community feedback, the losses from the DEXX hack are estimated to reach tens of millions of dollars. Slowmist founder Cos stated, “The private keys of DEXX users affected by the hack have been compromised, though the method of leakage remains under investigation.” This large-scale breach has delivered a significant blow to the recently thriving on-chain meme market and has once again highlighted the importance of on-chain asset security.　　According to incomplete statistics from Slowmist, as of the November 18 DEXX incident report update, more than 1,100 reports of stolen funds have been submitted by the community. After removing duplicate reports, it was confirmed that over 900 victims were affected, with total losses estimated at $21 million.　　DEXX has announced that a formal lawsuit has been filed, and the Slowmist team is actively assisting law enforcement in the investigation. Meanwhile, DEXX is working on a compensation plan. The platform stated:　　1.If all stolen assets are recovered, DEXX will provide full compensation immediately to ensure user interests are not impacted.　　2.If only partial recovery is possible, the platform will still

2024-11-21Deep Dive

MacBook Users with Intel Chips Urged to Update for Enhanced Security

According to SecurityWeek, Apple has confirmed that macOS systems have been targeted by zero-day attacks and has urgently released major macOS and iOS security updates to address two widely exploited vulnerabilities. Apple stated that these vulnerabilities are being actively exploited on Intel-based macOS systems and urged users across the ecosystem to apply the updates immediately. The recommended updates include iOS 18.1.1, macOS Sequoia 15.1.1, and the older iOS 17.7.2.　　

2024-11-21Deep Dive

South Korea: Upbit Investigated for Over 500,000 KYC Violations

Upbit, the largest cryptocurrency exchange in South Korea, reportedly violated know-your-customer (KYC) rules for over 500,000 identifications, as discovered by the countrys financial watchdog during its license renewal review.　　Maeil Business Newspaper, a local newspaper, reported today that the Financial Services Commission has found that Upbit failed to properly implement KYC procedures for at least 500,000 to 600,000 cases. For example, a user account was opened with a blurred identification card, and some accounts were created without proper verification, the report said. 　　Violations of KYC rules can result in fines of up to 100 million won ($71,740), and Upbit could also encounter challenges with its license renewal.　　

2024-11-21Deep Dive

South Korea to Enforce 20% Crypto Tax in 2025 with Increased Exemption Limit

South Koreas ruling political party intends to push ahead with the plan to tax cryptocurrency gains from the beginning of 2025 instead of approving a further delay, the Seoul Shinmun reported Wednesday.　　Originally, a 20% taxation (22% with local tax) on crypto gains was scheduled to take effect on Jan. 1, 2022. The plan has been pushed back twice to Jan. 1, 2025, due to heavy backlash from investors and industry experts. 　　While there were discussions and proposals of a further delay, with one suggesting a start in 2028, the Democratic Party of Korea (DPK) is committed to implementing the tax plan on schedule, according to the local media report. 　　However, the party is making an amendment to the plan by raising the tax deductible limit from cryptocurrency gains of under 2.5 million Korean won ($1,795) to 50 million won ($35,919). 　　Given the volatile nature of the cryptocurrency market, the amended plan reportedly allows taxpayers to use a percentage of the sale price as a proxy for the original purchase price, in cases where precise acquisition records are unavailable.　　According to the report, the Democratic Party noted that raising the tax exemption limit to 50 million won would be the same as

2024-11-21Deep Dive

Beam Chain: The End of Layer 2? Exploring the So-Called “ETH 3.0” Proposal

Beam Chain is a consensus layer upgrade proposal introduced by Ethereum Foundation researcher Justin Drake at the Ethereum Devcon conference in November 2024. The proposal aims to enhance Ethereum‘s performance and security by introducing faster block times, reducing validator staking requirements, implementing on-chain SNARKs, and incorporating quantum security improvements. The plan, referred to as “ETH 3.0,” has sparked speculation about its potential to displace Layer 2 solutions. But what’s the reality？What is Beam Chain？　　Beam Chain is a proposal specifically targeting Ethereum‘s consensus layer. It includes the following technical upgrades to improve the network’s performance and security:　　1. Faster Block Times: By optimizing the consensus mechanism, the proposal shortens block generation intervals, improving transaction processing speed and user experience.　　2. Reduced Validator Staking Requirements: By lowering the threshold for validators, the proposal encourages more participants, enhances decentralization, and strengthens network security.　　3. On-Chain SNARKs: The integration of zero-knowledge proof technology (e.g., zk-SNARKs) improves transaction privacy and scalability, reduces on-chain data volume, and enhances network efficiency.　　4. Quantum Security Improvements: By adopting quantum-resistant cryptographic algorithms, the proposal aims to mitigate future quantum computing threats, ensuring long-term security.Analysis　　In the early stages of Ethereum, which relied on the Proof of Work (PoW) consensus mechanism, there was no clear

2024-11-19Deep Dive

This Week's Noteworthy Events(Nov 18, 2024–Nov 24, 2024)

Token Unlocks　　• Avalanche (AVAX): Unlocking approximately 1.67 million tokens (0.41% of circulating supply) valued at $61.3 million on November 18, 2024, at 00:00 UTC.　　• Oasis (ROSE): Unlocking approximately 176 million tokens (2.62% of circulating supply) valued at $14.6 million on November 18, 2024, at 16:00 UTC.　　• Pixels (PIXEL): Unlocking approximately 54.37 million tokens (7.05% of circulating supply) valued at $11.4 million on November 19, 2024, at 10:00 UTC.　　• Eigenlayer (EIGEN): Unlocking approximately 1.29 million tokens (0.69% of circulating supply) valued at $3.2 million on November 19, 2024, at 19:00 UTC.　　• Cardano (ADA): Unlocking approximately 18.53 million tokens (0.05% of circulating supply) valued at $13.4 million on November 20, 2024, at 00:00 UTC.　　• Ethena (ENA): Unlocking approximately 12.86 million tokens (0.45% of circulating supply) valued at $7.4 million on November 20, 2024, at 00:00 UTC.　　• SPACE ID (ID): Unlocking approximately 18.49 million tokens (4.29% of circulating supply) valued at $8.3 million on November 21, 2024, at 00:00 UTC.Magic Eden: $ME Tokenomics to Launch on November 18　　According to an official announcement from Magic Eden, the tokenomics model for its $ME token will officially be released on November 18.McDonald‘s and NFT Brand Doodles to Launch Co-Branded Coffee Cups on November 18　　Fast-food giant McDonald’s

2024-11-18Deep Dive

Thune helped cosponsor a crypto bill in 2022 called the Digital Commodities Consumer Protection Act

Sen. John Thune, who has backed crypto-related bills in the past, has been elected to serve as Senate Majority Leader next year.　　The Republican from South Dakota was picked during a closed-door process on Wednesday, according to news reports.　　“I am extremely honored to have earned the support of my colleagues to lead the Senate in the 119th Congress, and I am beyond proud of the work we have done to secure our majority and the White House,” Thune posted on X.　　Thune currently has a spot on the Senate Finance Committee, which has jurisdiction over taxes and revenue. He helped cosponsor a crypto bill in 2022 called the Digital Commodities Consumer Protection Act or DCCPA, alongside Sen. Cory Booker, D-N.J., and sponsors Sens. Debbie Stabenow, D-Mich., and John Boozman, R-Ark.　　Former FTX CEO Sam Bankman-Fried reportedly backed DCCPA. Bankman-Frieds exchange later collapsed following a liquidity crisis and fraud allegations. Later, the Senate Agriculture Committee chaired by Stabenow released a statementthat said DCCPA would have blocked FTXs wrongdoings.　　The bill aimed to establish a legal definition for digital commodities and place their trading under the jurisdiction of the Commodity Futures Trading Commission.　　“Technology continues to transform digital commodities, and its critical that the Commodity Futures Trading

2024-11-14Deep Dive

Polymarket Founder Raided by FBI After Trump Win, Company Says

Polymarket has confirmed that its CEO, Shayne Coplan, was the target of a raid conducted by law enforcement on Wednesday. During the raid, which took place in Manhattan, Coplan‘s phone and electronic devices were seized, though he was not arrested. Coplan’s team claims he is a victim of “political retaliation.”　　A spokesperson alleged that Polymarket “accurately predicted the 2024 presidential election,” as bettors on the platform correctly forecast Republican Donald Trumps victory in the White House. The spokesperson further suggested this accuracy may have led to Coplan being targeted.　　The New York Post first reported the raid, noting that FBI agents executed the operation without providing any explanation for their actions.　　“Polymarket is a fully transparent prediction market that helps people better understand the events that matter most to them,” the spokesperson said. “We charge no fees, conduct no trading, and allow observers from around the globe to analyze market data as a public resource.”　　While polls before Election Day described the U.S. presidential race as too close to call, Polymarket and other prediction markets favored the eventual winner, Donald Trump, over Vice President Kamala Harris. Following Trump‘s overwhelming victory, some in the industry lauded Polymarket’s accuracy as a “crystal ball moment,” while critics

2024-11-14Deep Dive

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