Author: Andy Josh

Japanese manga-inspired game Captain Tsubasa has made its debut on the Oasys blockchain platform, offering players the opportunity to collect 5,000 non-fungible tokens (NFTs). In an announcement shared via a blog post, Oasys Blockchain revealed that the game was developed by Mint Town, Co., Ltd. and BLOCKSMITH&Co., a subsidiary of the renowned mobile gaming company KLab Inc. in Japan. BLOCKSMITH&Co. specializes in the development and distribution of blockchain technology and crypto assets utilizing NFTs. Oasys, a decentralized blockchain gaming protocol, distinguishes itself with a dual-layer approach within the Layer 1 blockchain landscape. Players can engage in Captain Tsubasa by collecting…

Presidential candidate Donald Trump recently announced his support for cryptocurrencies, pledging to end the hostility towards the crypto industry in the U.S. if re-elected. He emphasized, “If we’re going to embrace it, we have to let them be,” and urged crypto enthusiasts to vote for him. Previously, Trump had criticized Bitcoin and other cryptocurrencies. In July 2019, he described them as “not money,” condemning their volatility and lack of intrinsic value, and expressing concerns about their potential use in illegal activities such as drug trafficking. Crypto’s Influence on Voter Preferences According to Coinbase, around 20% of American adults, or over…

Developer Alexey Pertsev, associated with Tornado Cash, has filed an appeal with the s-Hertogenbosch court of appeal following a conviction for money laundering. The appeal process is expected to last several months, though it’s uncertain if the appeal has been granted. Pertsev, facing a 64-month prison term, may seek home confinement during the appeal trial. Following the verdict, Pertsev was immediately taken into custody to begin serving the sentence. The court concluded that Tornado Cash facilitated money laundering activities, leading to Pertsev’s conviction. Pertsev was apprehended in the Netherlands in August 2022, coinciding with Tornado Cash’s blacklisting by the U.S.…

Since the start of April, the cryptocurrency market has experienced a surge in new token launches, totaling over 1 million new tokens. Ethereum and Solana have emerged as primary platforms for this token frenzy, with Ethereum hosting more than 370,000 new tokens and Solana boasting an impressive 640,000 new tokens, primarily consisting of memecoins, as per a Dune Analytics dashboard. Ethereum has seen an overwhelming 372,642 new tokens introduced since April 1. A significant portion of these tokens, approximately 88%, totaling 327,553, were launched on Coinbase’s layer-2 blockchain, Base. The surge in Base activity can be attributed to the increasing…

Real-world asset (RWA) tokenization is reshaping the landscape of traditional assets by digitizing assets like real estate, commodities, and intellectual property into digital tokens, opening up a broader spectrum of investment opportunities. John Patrick Mullin, CEO and co-founder of MANTRA Chain, provided insights into the vast potential and inherent challenges of RWA tokenization. Mullin, offering an Asian perspective, also discussed the diverse regulatory frameworks and market dynamics across regions like Hong Kong, Dubai, and Singapore, underscoring their unique approaches to blockchain and digital asset regulations. RWA Tokenization: Bridging Traditional Assets and Digital Economy Mullin elucidated that RWA tokenization involves the…

Coinbase finds itself entangled in yet another legal battle as customers initiate a class-action lawsuit against two of its subsidiaries, Coinbase Global and Coinbase Asset Management. The lawsuit, filed on Friday, accuses the exchange of repeatedly violating securities laws since its inception. Central to the lawsuit are allegations of contradictions within Coinbase’s user agreement. While some cryptocurrencies are identified as securities, the lawsuit claims that Coinbase failed to register them for sale. Moreover, the lawsuit asserts that Coinbase openly acknowledges its role as a “securities broker” and “securities intermediary.” Specific digital assets listed on Coinbase, including Algorand, Decentraland, Polygon, Near…

Federal prosecutors have initiated an inquiry into Block, the financial technology firm co-founded by Twitter’s Jack Dorsey. The investigation centers on alleged compliance deficiencies within its core entities, Square and Cash App. Insiders familiar with the matter disclosed that discussions with a former staff member have unearthed undisclosed documents highlighting various compliance inadequacies, as reported by NBC News on Wednesday. Concerns Over Block’s Compliance Allegations leveled against Block encompass insufficient collection of customer information, processing transactions involving nations under U.S. sanctions, and facilitating cryptocurrency transactions for extremist organizations. These revelations pose a significant regulatory hurdle for Block, with the former…

The Securities and Exchange Commission (SEC) of Thailand is intensifying efforts to shield crypto investors from deceptive advertisements. Recently, on April 29, the Thai SEC issued a stern warning to all crypto exchanges, urging them to avoid glamorizing crypto investments and adhere strictly to advertising standards as outlined by the regulatory framework, according to a report from Bangkok Post. Deputy Secretary-General Anek Yooyuen voiced concern about crypto exchanges enticing users with special privileges, emphasizing the need for compliance. Violations of Thailand’s regulations, including advertisements containing false, exaggerated, or misleading information, will face legal repercussions. This move by the Thai SEC…

In a significant move within the financial industry, Morgan Stanley is contemplating allowing its brokers to recommend spot Bitcoin ETFs to clients. This potential shift marks a notable departure from traditional approaches, indicating a growing acceptance of cryptocurrency investments within mainstream financial institutions. The consideration comes amidst increasing demand from investors to gain exposure to digital assets like Bitcoin through regulated investment vehicles. While Bitcoin ETFs have been available in various forms, spot Bitcoin ETFs offer direct exposure to the cryptocurrency itself, rather than futures contracts or other derivatives. Morgan Stanley’s move reflects a broader trend in the finance sector,…

South Korean authorities have apprehended 49 individuals in connection with a suspected drug trading syndicate facilitated by cryptocurrencies, as announced by officers on April 23. According to reports from Newsis, the Drug Crime Investigation Unit of the Busan Police Agency revealed that the gang had illicitly trafficked and distributed narcotics valued at nearly $1.5 million to buyers who paid in cryptocurrencies. The alleged ringleader of the gang, believed to be residing in the Philippines, is currently being pursued for extradition by South Korean authorities. The gang is accused of smuggling drugs, including methamphetamine (crystal meth) and synthetic marijuana, from the…

Thailand is poised to restrict access to unlicensed crypto platforms over concerns about law enforcement effectiveness and the risks of money laundering. In an announcement made on Friday, the Securities & Exchange Commission (SEC) revealed its intention to refer the matter to the Ministry of Digital Economy and Society (MDES) for further action. The MDES will then initiate the necessary legal proceedings, potentially including a court petition. Citing examples from India and the Philippines, where access to unauthorized cryptocurrency platforms has been restricted, the regulator emphasized the need for similar measures in Thailand. Acknowledging potential inconvenience to users, the SEC…

Franklin Templeton, an asset manager, anticipates that Bitcoin’s forthcoming “Runes” token standard will bring the premier cryptocurrency network up to speed with its competitors in the DeFi sector, as stated in a report released on Monday. The firm shared a detailed fact sheet on the upcoming technology via Twitter, revealing that it is slated to launch concurrently with the Bitcoin halving event. “Runes introduces a novel token standard on Bitcoin’s layer 1, enhancing the existing fungible token standards on Bitcoin (BRC-20s),” Franklin elaborated. Tokens, distinct from a blockchain’s native currency like BTC on Bitcoin or ETH on Ethereum, were previously…

Coinbase’s institutional-oriented subsidiary has unveiled its intention to introduce perpetual futures contracts for the BRC-20 tokens Ordinals (ORDI) and Worldcoin (WLD) on April 11. In an announcement shared on April 5 via Coinbase International Exchange, the platform disclosed its plans to make perpetual futures products for ORDI and WLD available starting April 11. These contracts will cater specifically to institutional investors and will be accessible on both Coinbase International and Coinbase Advanced platforms. Both ORDI and WLD have experienced notable price fluctuations and increased trading activity in recent months. Worldcoin has emerged as a prominent choice among crypto investors seeking…

DRIFE, a decentralized taxi app, has recently integrated the Layer 1 Sui blockchain to enhance the user experience and streamline the onboarding process for ride-hailing users. Operating in India and the UAE, DRIFE aims to provide a fair and transparent ride-hailing experience by eliminating intermediaries and enabling direct transactions between riders and drivers. The integration with Sui blockchain offers several benefits to DRIFE, including the utilization of features such as ZKlogin, which facilitates frictionless user interaction. According to a company release, Sui blockchain provides a fair solution for drivers by addressing issues related to centralization and high commission rates. Firdosh…

According to a survey published on Tuesday covering 49 crypto portfolio companies in 2023, US-based cryptocurrency firms tend to provide higher salaries and more generous equity and token packages compared to their international counterparts. On average, US crypto salaries surpass those abroad by 13%, with equity and token packages being 30% more lucrative. The survey data indicates that entry-level crypto engineer positions in the US command salaries ranging from $105,000 to $154,000, whereas similar roles overseas offer compensation between $86,000 to $136,000. For founders of seed-stage startups, US-based executives typically receive around $143,900, slightly exceeding the compensation of their overseas…

The People’s Bank of China (PBOC), China’s central bank, has released a digital yuan service handbook for foreign visitors, facilitating contactless payments with the e-CNY. According to a local news report, titled “Explore the Splendors of China with e-CNY Service Guide for Visitors in China,” published by the central bank, international tourists can now utilize the digital yuan for payments through accounts linked to their cards via the official mobile app. The “e-CNY” app, available for download on the App Store and Google Play, provides registration services for China’s central bank digital currency (CBDC) accounts through authorized operators, namely local…

A recent study by the Atlantic Council revealed that 98% of the global Gross Domestic Product (GDP), representing 134 countries, are actively exploring the adoption of central bank digital currencies (CBDCs). This marks a significant surge from just 35 countries since May 2020. Currently, 68 countries are in advanced stages of CBDC exploration, including development, pilot programs, or even launching phases. Most notably, the majority of G20 nations, except Argentina, are at advanced stages, with 11 already piloting CBDCs. These nations encompass Brazil, Japan, India, Australia, South Korea, South Africa, Russia, and Turkey. In contrast, progress on retail CBDCs has…

The UK’s financial regulatory body will permit recognized exchanges to introduce crypto asset exchange-traded notes (cETNs), but access will be restricted to professional investors, such as investment firms and authorized credit institutions, announced the Financial Conduct Authority on Monday. To ensure smooth trading operations and safeguard professional investors, exchanges must implement adequate controls. Additionally, cETNs must comply with all requirements of the UK Listing Regime regarding prospectuses and disclosures. The decision to greenlight cETN applications comes in the wake of the US approval of Spot Bitcoin exchange-traded funds (ETFs), which has seen notable success and contributed to a surge in…

Ethereum’s layer-2 scaling solutions are experiencing unprecedented growth, with the total value locked (TVL) across prominent platforms such as Arbitrum, Optimism, and Base now exceeding $36.7 billion. Arbitrum One, an early pioneer in the layer-2 space, leads the pack with a TVL of $15.7 billion, nearly double that of its closest competitor, Optimism. This dominance can be attributed to Arbitrum’s first-mover advantage and superior security features. The surge in TVL on Ethereum layer-2 platforms reflects increasing demand for faster and more cost-effective transactions. This uptick in assets under management coincides with the remarkable rise in cryptocurrency and Ethereum prices. As…

A South Korean committee responsible for personal information matters is conducting an inquiry into Worldcoin for its collection and processing of sensitive data. According to a government notice issued on Monday, the Personal Information Protection Committee initiated an investigation into the digital identity project on February 29th, prompted by complaints regarding the collection and processing of personal information, including iris scanning. The notice reveals that Worldcoin affiliates are currently gathering facial and iris recognition data at approximately 10 locations in Korea. Consequently, the commission plans to scrutinize the overall collection and overseas transfer of personal information. It asserts that action…

A group of eight state attorneys general in the United States has jointly filed an amicus brief challenging the Securities and Exchange Commission’s (SEC) enforcement action against the cryptocurrency exchange Kraken. The brief, submitted on February 29, contends that the SEC has exceeded its delegated authority in the lawsuit. Representatives from Arkansas, Iowa, Mississippi, Montana, Nebraska, Ohio, South Dakota, and Texas, along with industry lobbyists, participated in filing the brief. They argue that the SEC’s attempt to regulate crypto assets as securities without a clear investment contract goes beyond its jurisdiction. The attorneys general emphasize the importance of preserving state…

The Ethereum Name Service (ENS) developer has reached a settlement with Manifold Finance regarding the ownership of the eth.link domain. Approved by the decentralized autonomous organization (DAO) of ENS, the settlement entails a payment of $300,000 to Manifold, along with ENS retaining the rights to the domain name. Additionally, ENS Labs’ legal expenses of $750,000 will be reimbursed, as confirmed by a recent ENS DAO vote. This resolution marks the end of an 18-month legal battle, during which ENS Labs filed a lawsuit against Manifold and domain registrars GoDaddy and Dynadot in an Arizona District Court. ENS Labs had obtained…

Ripple CEO Brad Garlinghouse has expressed his support for an XRP ETF, highlighting the potential for investors to benefit from increased diversification. In a Bloomberg interview on Tuesday, Garlinghouse stated, “I think it only makes sense.” He likened the situation to the early days of the stock market, emphasizing the importance of diversifying risk. Garlinghouse also suggested that other ETFs could emerge in the future but noted the difficulty in predicting exactly when. When asked about potential discussions with issuers regarding an XRP ETF, Garlinghouse chose not to provide further comment. Garlinghouse also commented on recent developments with the US…

Worldcoin, co-founded by OpenAI’s Sam Altman, has seen an impressive surge of 170% in price following the unveiling of OpenAI’s video creation model, Sora. As per CoinMarketCap data, Worldcoin is currently trading at $6.83, marking a substantial increase from $2.50 just a week ago. With this surge, Worldcoin’s market cap approaches $900 million. On February 18, the project celebrated surpassing one million daily active users on the World App, reaching a significant milestone. Spot On Chain, a blockchain analytics platform, highlighted that Alameda Research holds 25 million WLD tokens, equivalent to about 19% of the circulating supply. These tokens were…

A recent report from Galaxy Research suggests that the emergence of spot Bitcoin ETFs poses a long-term challenge for publicly traded cryptocurrency miners. Traditionally, public mining stocks served as one of the primary avenues for investors to gain exposure to Bitcoin’s price movements. However, with the approval of Bitcoin ETFs, more sophisticated investors are entering the market, reshaping the landscape for miners. Galaxy analysts, led by Brandon Bailey, Galaxy’s Vice President of Mining, note that the approval of ETFs is likely to influence investor decisions in the short term. Retail investors may continue to view mining stocks as a leveraged…

The recent post of US President Joe Biden’s featuring laser-eyed avatars on his X and Instagram accounts has piqued the interest of the crypto community. The post, shared late Sunday, was accompanied by the caption: “Just like we drew it up.” Biden’s social media activity followed the Kansas City Chiefs’ victory over the San Francisco 49ers in the Super Bowl, securing their third title in five years. “Just like we drew it up” is a phrase commonly used in sports to signify that plans were executed successfully. However, the inclusion of the laser-eyed graphic in Biden’s post led to speculation…

RBI Governor Shaktikanta Das Proposes Offline Solutions to Drive Digital Rupee Adoption in Remote Regions Reserve Bank of India (RBI) Governor Shaktikanta Das has recommended leveraging offline strategies to promote the adoption of the central bank’s digital rupee in remote areas. As per the Press Trust of India, the RBI plans to assess various offline methods, both proximity-based and non-proximity-based, suitable for hilly, rural, and urban environments to overcome connectivity challenges. During a review meeting of the Monetary Policy Committee on February 8, Governor Das announced the intention to introduce offline functionality in the Central Bank Digital Currency (CBDC-R) to…

Thailand’s Finance Ministry has unveiled a bold initiative to bolster the country’s position as a digital asset hub by waiving the value-added tax (VAT) on digital asset trading. The move, highlighted in a recent Bangkok Post report, seeks to position digital assets as a viable fundraising tool and propel the growth of Thailand’s digital asset industry. Paopoom Rojanasakul, the secretary to the finance minister, articulated the ministry’s strategy to harness digital assets’ potential to drive the nation’s digital economy forward. VAT Suspension Fuels Digital Asset Market Effective from January 1, 2024, the Finance Ministry’s decision suspends the 7% VAT requirement…

South Korean entertainer PSY, famed for his global hit “Gangnam Style,” finds himself embroiled in a clash with regulators over his foray into NFT-powered concert ticket sales in his homeland. According to reports from Biz World, PSY’s entertainment agency P Nation initiated an NFT-based pre-sale project for his 2023 concert tour. The project, tied to a fan community named soPSYety, introduced NFTs like the PSYger range, offering holders exclusive opportunities to purchase advance tickets for his Summer Swag and All Night Stand concerts. However, this innovative approach has attracted the attention of the South Korean Fair Trade Commission (FTC), which…

Meta’s Reality Labs, the tech giant’s division dedicated to virtual and augmented reality (VR/AR) innovation, experienced a notable setback despite achieving impressive revenue figures in the fourth quarter of 2023. During a recent earnings call, Meta’s chief financial officer, Susan Li, disclosed that the company anticipates Reality Labs’ losses to escalate significantly year-over-year. In the fourth quarter of 2023, Reality Labs recorded an operating loss exceeding $4.6 billion, even as it reported one of its most robust quarterly revenue performances to date, reaching nearly $1.1 billion. This marks the largest quarterly operating loss for the division since Meta began incorporating…