Crypto Guides, Knowledge & Insights

Cryptopunk goes mainstream with Hollywood, but Loot could be the next Bandersnatch

The latest update in the NFT market saw the mainstream CryptoPunks compete with the newly launched Loot. While top NFT, CryptoPunks signed a deal with Hollywood‘s leading United Talent Agency (UTA), to represent its NFT project created by Larva Labs. Followed by the CryptoPunks’ mainstream choice, the newly launched co-creation token, Loot experienced skyrocketing popularity in a weeks span.　　Loot eliminates the need for IP authorization　　Dom Hofmann, the co-founder of Vine and NFT project Blitmap, initiated the NFT project Loop to allow users to create on top of the original token without the concern of Intellectual Property authorization. Loot provides an NFT base with randomized text and a set of random adventure gear. These do not have any images and data, so they can be autonomously interpreted by every individual differently. Loot NFTs also facilitate free casting, but the gas fee is still charged.　　“A lot of people have been wanting some sort of game that takes place in a fantasy realm, or a science-fiction realm…They want it to be compatible with other realms. They want to be able to build on top of that. They want to know that the items that they have will always be with them. [I was]

2021-09-07Deep Dive

Regulation Update: Thai SEC to annul Huobi’s license in the country

The Thailand Securities and Exchange Commission (SEC) has announced to propose to the Ministry of Finance, permanent revocation of Huobi‘s business license in the nation. Additionally, the Thai SEC has instructed Huobi exchange to subsist the suspension of its services in the country. Huobi has three months to return or buy back customers’ assets. This ban has come instead of Huobis failure to fix flaws pointed out by the commission months ago.　　“During the suspension of such services, Huobi must return all assets to customers within 3 months from the date the SEC has the resolution to order.”, the SEC mentioned in its latest announcement.　　 SEC highlighted systematic flaws in Huobis functioning　　SEC‘s investigation into the exchange between February 2021 and March 2021 scouted systematic flaws within the functioning of the exchange. SEC highlighted inadequacy in Huobi’s trading, customer asset retention, information technology systems, etc. After SEC‘s first notification of Huobi’s systematic flaws, the commission decided to temporarily suspend the exchanges services in another follow-up meeting in April. Furthermore, the commission emphasized that it had extended the correction period several times as requested by Huobi, including the total amendment period of 5 months and 12 days.　　SEC denied exchanges further appeals for extension　　The

2021-09-07Deep Dive

How individuals can ‘unbank’ from TradFi using crypto

Cryptocurrencies are becoming increasingly popular as the world transitions to a more digital society. With this trend, many people are looking for ways to securely store their coins and tokens without worrying about fraud or theft.　　Crypto credit cards are a promising solution that allows users to spend cryptocurrencies similarly to fiat currency. An initiative that may help bridge the gap between crypto skeptics and adopters. The rise of these credit cards, therefore, could have profound implications on not just blockchain, but the financial sector as a whole.　　Over the last decade, a financial revolution has taken place. The internet has created an entirely new way for people to bank themselves with cryptocurrency, creating an innovative and exciting way of making money in todays world. This blog post will explore how individuals can unbank themselves from their current financial service providers using digital currencies.　　How the Blockchain is Designed to Help Everyone　　Cryptocurrency and blockchain have the potential to change lives by aiding those who struggle with access to financial services.　　There are billions of people in emerging countries who lack access to a bank account, which is a major contributor to economic mobility. Among those who are able to set up an account, many

2021-09-07Deep Dive

Mexican Retail Giant Grupo Elektra to Add Bitcoin Lightning Payments

Mexican retailing and banking corporation Grupo Elektra will enable support for the Bitcoin Lightning network, according to a Twitter announcement made by owner Ricardo Salinas Pliego.　　The billionaire says that the new payment feature will come to Electras stores “very soon.”　　Salinas Pliego, the third-richest person in Mexico with an estimated net worth of $15.4 billion, has been a staunch Bitcoin supporter for quite a while.　　In November, he made an announcement about putting 10 percent of his portfolio into the largest cryptocurrency.　　As reported by U.Today, the businessman recently tweeted that his Banco Azteca would soon become the first Mexican lender to start accepting Bitcoin.　　Bitcoins main scaling solution has seen increasing adoption over the past year, with social media giant Twitter reportedly testing a tipping feature powered by the technology.　　For more blockchain news, please download WikiBit- the Global Blockchain Regulatory Inquiry APP.

2021-09-07Deep Dive

UK FCA’s Chief Cites Kim Kardashian to Warn Against This Crypto Risk

Charles Randell, Chief of the Financial Conduct Authority (FCA), the top financial watchdog in the UK today in his address at Cambridge International Symposium laid out risks associated with crypto regulations. During his address, he talked about the speculative nature of crypto assets and how it is not easy to regulate something which hasnt been around for so long. He said,　　“There are no assets or real-world cashflows underpinning the price of speculative digital tokens, even the better-known ones like Bitcoin, and many cannot even boast a scarcity value,” said Randall. “These tokens have only been around for a few years, so we haven‘t seen what will happen over a full financial cycle. We simply don’t know when or how this story will end, but – as with any new speculation – it may not end well.”　　During his address, Randell also talked about the rising number of social media scams promoted by some of the top celebrities. He cited the recent example of Kim Kardashian who was seen promoting an unknown project called ‘Ethereum Max Community.’　　“Of course, I cant say whether this particular token is a scam,” he explained. “But social media influencers are routinely paid by scammers to help them

2021-09-07Deep Dive

Billionaire Hedge Fund Manager: Bill Miller buys $1.5 million Grayscale Bitcoin.

The legendary veteran hedge fund manager: Bill Miller who has become a billionaire out of his earlier investments in Bitcoin has further increased his Bitcoin holdings with Grayscale shares by acquiring a total of 1.5 million Grayscale Bitcoin worth over $49.5 million presently.　　In a recent filing with the U.S. Securities and Exchange Commission, the Miller Opportunity Trust has been reported as acquiring 1.5 million shares of Grayscale Bitcoin worth $49.5 million presently.　　Remarkably, the Miller Opportunity Trust seem to be toeing the part of increasing their Bitcoin holdings with Grayscale periodically as the maximum percentage of the funds assets that can be allocated to GBTC shares is limited to 15%.　　Over the years the Crypto Billionaire and Bitcoin lover Miller has always rendered great support for the promotion Crypto currencies especially Bitcoin. In February, the Miller Opportunity Trust filed with the SEC to invest up to 15% of its assets in the GBTC.　　Miller has been one of the earliest Wall Streeters to endorse Bitcoin, and had purchased the largest cryptocurrency back in 2014 when it was worth roughly $200 and had relatively little coverage in financial media. This early foresight and adventure into Bitcoin has made Miller a Billionaire today.　　Still more, Millers

2021-09-07Deep Dive

Alibaba, TikTok, NetEase Join The Craze, Why China’s NFT Market Has Seen An Explosive Growth

The NFT Craze has been reaching new levels across the world, as many big companies and players jump into the scene. Investment firm Sino Global Capital believes the sector is “growing rapidly”, predominantly in China.　　Companies based in the Asian Giant, such as Alibaba, visual content media agency Visual China Group (VSG), NetEase, a major internet technology company, and ByteDance, the parent company of social media platform TikTok, already announced a stake in the NFT market.　　This has coincided with an equally amount of participation from western companies, and high net worth individuals. The payment giant VISA recently purchased one of the NFTs that comprised popular collection CryptoPunks. This could lead to another wave of mass adoption, driven a new stage in the NFT Craze.　　As Sino Global Capital claimed, there are key events that suggest this possibility. The first is the acquisition of CryptoPunks from founders of major companies, such as Cai Wensheng, founder of Meitu, Feng Bo, founder of Dragonfly Capital, and others.　　As Bitcoinist reported, these individuals purchased CryptoPunks #8236 and #7252 for 125 ETH and 1600 ETH, respectively.　　In addition, the participation of retail investors into the market. The NFT Craze has been partially driven by small investors looking to flip

2021-09-07Deep Dive

Komuniti Ziliqa (ZIL) Teruja Dengan Kemunculan Platform NFT

Berdasarkan pengumuman itu, hub kewangan desentralisasi Ziliqa, Switcheo Labs melalui kerjasama bersama ZilSwap mahu mewujudkan ekosistem NFT yang dapat diakses dengan lebih inklusif.　　Tidak cukup dengan itu, marketplace tersebut dibangunkan dengan ciri saling kendali bersama Ethereum (ETH) dengan kehadiran cross-chain yang dikuasakan oleh Switcheo Network.　　Melalui cara itu, inisiatif NFT di Ethereum boleh migrasi ke Ziliqa.　　Switcheo Network percaya kehadiran sektor NFT dalam ekosistem mereka turut akan memampankan lagi kedudukan ZilSwap sebagai platform utama di Ziliqa.　　Dijangkakan marketplace NFT akan dilancarkan pada 15 September 2021, bersama koleksi terhad NFT daripada The Bear Market.

2021-09-07Deep Dive

Grayscale Litecoin Trust (LTCN) Meningkat Lebih 32%

Ada dua faktor utama kepada peningkatan ini:　　Pelumba kereta, Landon Cassil menjadi individu pertama dibayar di dalam kripto iaitu Litecoin (LTC) dalam perlumbaan di Darlington semalam waktu tempatan.　　Lonjakan LTC sebanyak 34.72% ke paras $200 menyebabkan minat dalam kalangan pelabur runcit dan institusi meningkat mendadak.　　Pada masa yang sama, faktor disebut turut disokong kuat oleh volatility (ketidaktentuan) yang rendah iaitu sekitar 58%, melindungi aset ini daripada turun naik harga yang tiba-tiba.　　LTC/BTC juga menunjukkan kolerasi yang tinggi iaitu 0.97, mengekalkan nilai aset yang mengukuh.　　Ternyata prestasi Litecoin jauh daripada apa yang dijangkakan oleh 76% panelis pada Ogos lalu. Pada hemat mereka, Litecoin akan gagal dan tidak mustahil akan terus lenyap kerana kerelevanannya yang semakin menghilang.　　Ketika penulisan, Litecoin mencatatkan nilai dagangan $226.4, meningkat hampir 6% dalam 24 jam. Aset ini bagaimanapun menyaksikan penyusutan lebih 45% daripada paras tertinggi sepanjang masa (ATH) yang direkod pada 10 Mei, $412.96.

2021-09-07Deep Dive

World Economic Forum Identifies 4 Factors Driving Worldwide Interest in Crypto: Report

The World Economic Forum (WEF) says there are four main factors sparking a tidal wave of crypto adoption across the world.　　In a new report, the independent international organization says that interest in cryptocurrencies is growing due to a combination of economic drivers.　　“Central bank policies, hyperinflation, and macroeconomic instability have driven volatility and devaluation of local fiat currencies relative to other global currencies before and particularly during the COVID-19 pandemic. This has caused individuals and corporations such as Microstrategy, Tesla and Square to hold bitcoin and other digital monies. It has also inspired increased advocacy by users and awareness among policymakers from the US to El Salvador who are crafting new policies around cryptocurrencies.”　　The WEF also notes that remittance costs are eating up a larger-than-ideal percentage of transactions, potentially explaining the growing attention toward P2P (peer-to-peer) systems found in many cryptos.　　Another factor driving interest in crypto assets is the creation and rapid scaling of stablecoins as a much more efficient medium of exchange.　　“The market cap of USD Coin (USDC), for instance, has passed $25 billion with a compound annual growth rate of more than 6,100%. Such traction has even inspired Sweden to pivot its planned e-krona in order to compete with

2021-09-07Deep Dive

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