We have some amazing news for you: Recently, in the seed round, CoinStats received $3.2M from a number of prominent investors in the field. The round was led by Alex Pack’s Hack VC and included Mike Dudas’s 6th Man Ventures. This means that extended DeFi functionality is coming to CoinStats sooner rather than later!
On the occasion of CoinStats stepping into this new stage of development, CoinStats Founder & CEO Narek Gevorgyan sent you an official letter, saying:
“I am writing first and foremost to break the good news: CoinStats closed its seed round with $3.2M of funding. Congratulations, this is also your achievement, because you — our community — are the main reason why we do what we do. With the new funds, we will expedite our product development and growth delivering better financial products and helping you achieve financial freedom.
We are living in a very transformative stage and this directly applies to the field of finance. The future of financial institutions is decentralized finance, which is why CoinStats is working to become a lively hub that houses all your holdings, the one place where you can manage all your DeFi operations. Soon enough everyone, from the goth next door to the grandma on the bench in the park, will be able to access DeFi hassle-free via CoinStats. Crypto is everyone! Accessibility is key.
We’re taking our mission of empowering people to effectively manage their crypto portfolio via an easy-to-use platform to the next level. The funding we received will serve this goal. Read more about it here.
Thanks for being with us. Let’s march on!”
Excited to announce that @CoinStats has raised $3.2m in funding.
Thanks to @alpackaP & @hack_vc for joining us in our mission to shape the future of DeFi.
And, of course, thanks to our community for empowering us to be better every day.https://t.co/AQcYH2QqzZ
CoinStats is in for a big change. Soon enough you will be able to earn on your crypto, instead of just hodling. CoinStats will become a DeFi aggregator, curating the safest and most profitable opportunities for the community to take advantage of. Stay tuned for our own cryptolution!
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD still trading above $41,000 Thursday, having reclaimed the $40,000 mark during the move higher.
“So far so good, I expected a move to 41k but I doubt about going for an extra leg down to the green box (blue),” popular trader Crypto Ed commented overnight alongside a chart with near-term price targets.
“Coming hours a bit more up, followed by a correction. Retest of 40.5k and when that holds, we’ll go for 42-43k (white). Lose 40.5k and we’ll go for green box.”
BTC/USD chart. Source: Crypto Ed/ Twitter
$40,500 showed no signs of falling at the time of writing, with volatility ebbing into Thursday and Bitcoin seeing no major threat to its bounce.
Zooming out, others took the opportunity to argue that despite the lack of bullish sentiment, Bitcoin itself was far from bearish this year.
The lower the time preference, the less cause for panic — year to year, fellow analyst TechDev demonstrated, Bitcoin had more than a passing resemblance to traditional market behavior, even after dropping over 50% from November’s all-time highs.
In focus this month was a similar chart pattern between Bitcoin now and the Dow Jones from the start of the 1990s.
“Times change. Assets change. Macro aggregate human behavior usually doesn’t,” TechDev summarized.
Bitcoin’s stocks correlation is nonetheless a cause for concern for some, with a drawdown tipped to impact price significantly.
Exchange withdrawals heat up
For Blockware lead insights analyst William Clemente, meanwhile, there were other reasons to keep the faith.
Cryptocurrency exchanges were losing BTC reserves at a rate rarely seen before, he noted Wednesday, implying that any rise in demand would compete with a rapidly-dwindling supply, boosting price performance further.
“On only 3 other occasions have we ever seen Bitcoin withdrawn from exchanges at this rate,” he wrote alongside data from on-chain analytics firm Glassnode.
Glassnode’s net position change indicator tracks both upwards and downwards changes in balances on 18 exchanges.
Exchange net position change annotated chart. Source: William Clemente/ Twitter
Exchange withdrawal spikes are a much debated phenomenon, and excitement among pundits has increased this year in line with accelerating demand.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
Who Was GameFi’s Biggest Winner in March | March Monthly Report
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GameFi projects showed strong resistance to the negative macro environment in February and March, with many areas of development not only growing steadily but breaking out against market trends.
Footprint Analytics data shows that the number of GameFi game projects went up to 1,406, up 5% MoM. Trading volume at the end of the month was $129 million, up 154% MoM. Active users increased 56% from February. It is worth noting that the two game projects, Par War Online and DeFi Kingdoms, have increased by more than 25,000% in active users in the past 30 days.
The following will analyze the overall situation for GameFi in March using data.
GameFi Market Overview
GameFi Project Count Up 5% MoM, BSC Project Count Up 1303% YoY
Looking at the overall development of GameFi, many blockchains and gaming projects have emerged in the past year. According to Footprint Analytics, as of March 31, there were 35 blockchains participating in the GameFi sector, with 1,406 game projects in total, up 5% MoM.
Footprint Analytics – Number of GameFi Protocols by Chains
Although most of the early projects were concentrated on Ethereum, due to the impact of network congestion and high gas fees, the poor user experience slowed down the pace of development. Instead, on-chain gaming projects such as BSC, Polygon, WAX and EOS are gradually increasing.
Notably, BSC has the fastest growing project count, up 1303% YoY. It has low gas fees and a throughput 5 times higher than Ethereum, with 449 gaming projects deployed on BSC by the end of March.
At the same time, some chain’s have faced the problem of having one project driving the entire ecosystem.
For example, Splinterlands has single-handedly driven the development of Hive, which has been a Top 5 GameFi project by number of users for the past three months. There is also DeFi Kingdoms on Harmony, which surpassed Axie Infinity multiple times in March in daily trading volume the become the largest project according to this metric.
Footprint Analytics – Top 10 Games Ranking by Volume
GameFi’s Trading Volume Picks Up, Active Users Up 56% MoM
The number of users is the key to the healthy operation of the entire GameFi ecosystem. If there are no users, the game project will become worthless. As of March 31, the total number of active users was 10.96 million, including 1.27 million new users. Compared to February, the number of active users increased by 56%.
Footprint Analytics – Monthly Gamers TrendFootprint Analytics – GameFi New Users by Chain
Par War Online and DeFi Kingdoms are the games that are driving GameFi’s rapid growth in active users. In the last 30 days, active user growth has been 28,931% and 25,319%, respectively. These two games are attracting users primarily because of their high revenue generation opportunities, such as the 300% to 400% APY LP for DeFi Kingdoms.
According to Footprint Analytics data, GameFi’s trading volume has been on a downward trend due to the Russian-Ukrainian conflict. It was only after March 21 that volume picked up quickly, ending the month at $129 million, up 154 percent from February. It gradually recovered from a per capita volume of about $30 to $105 per capita.
Footprint Analytics – GameFi of Volume TrendFootprint Analytics – GameFi Volume and Transactions per User
As can be seen, although the GameFi market showed a downward trend in transaction volume due to the macroeconomic impact, it quickly rebounded after late March with more new users engaging in the GameFi sector. This means that sensible tokenomics and products can create games that engage users.
The data shows that GameFi investments in March were $458 million, an increase of 307% compared to February. In terms of investment sector, NFT and Web3 in the GameFi category saw the largest increases.
As the number of GameFi protocols increases, the influx of blockchains such as BSC has broken the slow pace of Ethereum in the GameFi sector, contributing to the continued inflow of funding.
Footprint Analytics – Gaming Financing distribution
The financing received by GameFi projects mainly comes from seed rounds, the main reason behind this phenomenon is that the GameFi industry is in the early stage, and the development cycle of quality game projects is long, which is also the trend cycle for investors to observe the industry.
Footprint Analytics – Monthly Number of GameFi Projects Funded
Game Projects That Accelerate GameFi’s out of the Circle in March
Footprint Analytics believes that GameFi is one of the most effective means of attracting new users into crypto. Opportunities with stronger gameplay and higher yields will become the main focus in GameFi in the future.
Footprint Analytics – Ranking of Daily Gamers (March 31)
Hot Game Projects
Having a multi-game ecosystem and interoperability between games is more attractive for user participation.
From the number of users and the number of transactions, it can be seen that in March, there were many GameFi projects in which users participated in transactions. But the more popular ones were DeFi Kingdoms, StarSharks and Thetan Arena. The number of users and transactions of the three game projects are on the rise.
Starsharks is the BSC project with the largest user growth. It leverages the innovative Rent to Play model, where players can buy or rent NFTs through the platform’s native leasing feature to facilitate full utilization and liquidity of NFT assets.
Starsharks’ retention rate in March was 13%, and the overall user retention rate is declining. By comparison. Cryptokitties (a popular Ethereum chain game) had a retention rate of 1.2% in March.
This shows that innovation and project liquidity are important to retain users.
According to Footprint Analytics data, MetaverseMiner’s user numbers and transactions are crashing. Once players earn less revenue (in terms of a stable token or fiat), highly experimental games like this often face the loss of traffic.
March also saw one of the largest security breaches in GameFi history. On March 23, cybercriminals stole $622 million from Axie Infinity users in cryptocurrency. As a result, the number of users decreased.
Despite the tense situation in Europe and a negative market trend, the GameFi industry continued to expand in number of projects, transaction volume, users, and investments.
On the other hand, the industry suffered several setbacks, especially in terms of security. The news about Axie Infinity, considered extremely secure, shook confidence and highlighted the need for increased diligence and research when investing.
March Events Review
NFT & GameFi
Axie Infinity Tokens AXS, SLP Reeling After $622M Ronin Hack
Average weekly trading for NFTs fell 54% MoM
Card game Cross the Ages completes $12 million seed round
Fidenza #692 NFT Sold for 320 ETH, Worth Nearly $1M
Estee Lauder to Distribute NFTs During Decentraland Metaverse Fashion Week
Metaverse & Web3
Meta launches Metaverse Engineering Center in Canada, will recruit up to 2,500 staff
Web3 portal project Mask Network announces a partnership with decentralized privacy protocol Mystiko
Web3 Platform Op3n and Avalanche Foundation launch a $100 million creator fund
Polygon Studios and Metaverse AI Enter into Strategic Partnership
Web 3 Game Development Platform Joyride Raises $14M Ahead of Launch
DeFi & Tokens
$100M Wave Financial Fund Offers Liquidity to New Cardano DeFi Platforms
iZUMi Finance Lists Arbitrum, TVL on Arbitrum Chain Exceeds $16 Million Within 24 Hours
Cashio attackers will refund users who lost less than $100,000
New York Fed Brandon Neal appointed COO of DeFi protocol Euler Finance
IoTeX Launches $100M Sustainable Ecosystem Fund
Network & Infrastructure
Astar Network Total Value Locked (TVL) crosses $1 billion
Terra’s market cap hits all-time high
USDC issuance on the Avalanche chain exceeds $900 million
The total amount of NFT transactions on the Avalanche chain exceeded $200 million, a record high
Terra founder talks about “$10 billion Bitcoin reserve” plan again
Institutions
Italian banking giant UniCredit fined $144 million for illegally closing accounts of crypto miners
Crypto.com to run ads during Oscars in support of Ukraine
Sequoia China plans to raise more than $8 billion through four new funds
Fidelity Launches Two New Bitcoin ETPs on Swiss SIX Exchange
Bank of America gives crypto bank Silvergate Capital a buy rating and $200 price target
Worldwide
Indian MP proposes raising crypto tax higher than 30%
The city of Rio de Janeiro plans to accept Bitcoin payments for real estate taxes starting in 2023
Russia’s Central Bank Steps Up Monitoring of P2P Transactions Including Cryptocurrencies
US Lawmaker Says Bitcoin Is Aligned With American Values, Will Strengthen the Dollar
New U.S. bill bans crypto firms from doing business with sanctioned companies
The Footprint Community is a place where data and crypto enthusiasts worldwide help each other understand and gain insights about Web3, the metaverse, DeFi, GameFi, or any other area of the fledgling world of blockchain. Here you’ll find active, diverse voices supporting each other and driving the community forward.
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Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.
Metaverse Fashion Week 2022 | CoinStats Blog
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With Metaverse’s growing popularity, the digitalization of the fashion industry is inevitable, but for it to gain traction in the mainstream, we still need new technologies and digital breakthroughs.
Digital fashion has progressed so far that it already needs its own fashion week, with everything it implies: from runway shows and new collection presentations to public talks and parties with true DJs. The first digital fashion week was held March 24-27, 2022, in Decentraland, a decentralized virtual social platform built on the Ethereum blockchain.
Highlights From 2022 Metaverse Fashion Week
According to reports, the Metaverse Fashion Week (MVFW) featured over 60 fashion brands and over 500 looks. Among other highlights were four after-parties and the presence of well-known artists throughout the four-day event.
Selfridges, Bulova, Estée Lauder, Dolce & Gabbana, Tommy Hilfiger, and Etro were among the many prominent brands and stores present at the event.
The MVFW was a completely free event open to all visitors on Decentraland, where visitors could purchase the fashion brands’ NFTs using the platform’s native decentralized cryptocurrency MANA via their digital wallets.
The MVFW also included exclusive digital events. The VIP events included runway shows, tech demos, and meet-and-greets with designers.
Selfridges Store Opening
The MVFW started with Selfridges, a London-based retailer, launching its flagship shop, where NFT of the real exposition currently held in London was presented. It featured Paco Rabanne and Victor Vasarely’s work that had influenced it. collection. Players could purchase NFT dresses and Fondation Vasarely artworks. Here are the non-fungible tokens (NFTs) in the virtual store in Decentraland.
Selfridges&co shop in Decentraland
The Selfridges new store is said to be inspired by the retailer’s Birmingham store and offers a guided tour of past works, history, and highlights using NFTs.
Estée Lauder Launches NFT Wearable
Estée Lauder introduced an original NFT wearable based on its famous product, Advanced Night Repair, in collaboration with metaverse artist Alex Box.
For the duration of MVFW, a limited number of 10,000 complimentary Advanced Night Repair NFTs were offered.
By walking virtually inside the Advanced Night Repair’s “Little Brown Bottle” and unlocking a Proof of Attendance Protocol (POAP) badge, users could claim one NFT wearable to give their avatars a distinctive illuminating aura.
Estée Lauder was the only beauty brand at Decentraland.
Bulova Releases Computrom Watch Version
Bulova, a watchmaker, collaborated with D-Cave, a “lifestyle metaverse marketplace,” to provide a reimagined version of their renowned Computrom wristwatch.
Besides their NFT, visitors could purchase the watch in wearable avatars and physical versions.
The watch’s Special Edition version is only available as NFT and is limited to 1,000 pieces. It comes in black and green and has an exhibiting mineral crystal case top that shows off the circuit board inside. According to D-CAVE, it features a sleek black IP stainless steel case and matching bracelet with a green LED time display with dual time zone functionality.
Bulova, a watchmaker, collaborated with D-Cave, a “lifestyle metaverse marketplace,” to provide a reimagined version of their renowned Computrom wristwatch.
Besides their NFT, visitors could purchase the watch in wearable avatars and physical versions.
The watch’s Special Edition version is only available as NFT and is limited to 1,000 pieces. It comes in black and green and has an exhibiting mineral crystal case top that shows off the circuit board inside. According to D-CAVE, it features a sleek black IP stainless steel case and matching bracelet with a green LED time display with dual time zone functionality.
Bulova accepts cryptocurrencies as payment via BitPay for the actual Standard Edition Computron D-CAVE, which is rumored to cost USD 450.
Dolce & Gabbana’s First Runway Presentation at MVFW
Dolce & Gabbana debuted a collection of designs on the MVFW runway featuring feline models.
Dolce & Gabbana during MVFW
The cat-faced models posed on what appeared to be a galactic discotheque, wearing distinctive D&G clothes, including a yellow dress with the brand logo printed all over it.
Fresh Couture, which made its metaverse debut with a boutique store in Decentraland at the MVFW, was also among those that staged a catwalk presentation.
Philipp Plein Show
Philipp Plein opened his show with a massive skull as the brand’s symbol. The skull opened, and its tongue was uncoiled to reveal the models strolling through the exhibition. In this metaverse season, Philip Plein fans are expected to wear sparkling spectacles or respirator masks, helmets with cat ears, down jackets, wings, and bathrobes.
Philipp Plein show
On the brand’s website, prices for skins sold right off the runway ranged from $1,500 for Moon $urfer to $15,000 for Platinum $urfer. These skins come with a bonus: a little skeleton perched on the shoulder, most likely to justify the price.
Following the exhibition, everyone was invited to a party, where Plein broadcasted himself from home, bragging on his Instagram stories that his garments were shown for the first time in them. The designer was wearing his brand’s unique skin: a cat-eared helmet. Cats are popular in the metaverse.
Etro’s New Liquid Paisley Pattern
Etro’s digital collection launched the new Liquid Paisley pattern, a modern spin on one of the brand’s most well-known motifs, in a vibrant palette of fresh and happy colors, with a gender flexible approach influenced by Etro’s open and inclusive vision.
The entire event took place in Decentraland’s digital Luxury Fashion District. As part of this, Etro is creating its first virtual pop-up store, where customers will be able to purchase Etro’s ready-to-wear and accessories and customize their avatars with collection items.
Veronica Etro, the womenswear Creative Director, stated that she chose to launch the Liquid Paisley Capsule via a completely new and inclusive runway dimension, right in the metaverse, where everything is possible.
Sophia Robot Attends Metaverse Fashion Week
Sophia Robot at MVFW
The arrival of Sophia, the world-famous humanoid robot built and created by Hong Kong-based Hanson Robotics, was one of the main highlights of Metaverse Fashion Week. Sophia was seen visiting numerous places in the Decentraland world, particularly around MVFW locations such as Rarible Fresh Drip Zone.
Decentraland invited visitors to discover Sophia anywhere on the platform and tweet selfies with her using the hashtag #findingsophiatherobot. As a result, users were given the opportunity to participate in a unique NFT giveaway.
Rarible’s Fresh Drip Zone
Rarible’s Fresh Drip Zone, inspired by the streets of New York City, included pop-up stores from 12 companies, including PUMA, Fred Segal, and Perry Ellis.
The Fabricant, Placebo, Girl Gang Label, Artisant, and other designers were also featured in the Fresh Drip Zone.
Rarible street
Special collections from Vault Swiss watches and Miss J, offered by Crypto Couture, were also available here.
In the center of the area, a dome-shaped Rarible store displayed exceptional NFTs and curated unique objects. Visitors could also take part in-store giveaways.
Marc-O-Matic
Marc-O-Matic store
Marc-O-Matic, an independent artist, opened a store during Metaverse Fashion Week. The store visitors could discover intriguing items like the Space Jockey three-piece set, which resembled a futuristic spacesuit.
On Twitter, the designer thanked Rarible and Metakey for the opportunity.
Dundas World
Fashion designer Dundas World closed the show with a set of digital garments displayed at its pop-up store in the Luxury Fashion District.
Fashion show “Dundas World”
The UNXD fashion show and store featured a handpicked capsule of the brand’s latest looks, which were available for pre-order on the brand’s official website. Peter Dundas created bespoke outfits exclusively for the MVFW.
Grimes Show Brings Curtains Down on MVFW
At the event’s conclusion, singer-songwriter Claire Elise Boucher, better known as Grimes, took the MVFW by storm with an electric DJ set for the spectators.
Grimes show
The AUROBOROS X Grimes show at the MVFW featured a performance in a gigantic set that appeared to be a fusion of nature and the sky. Avatars of the attendees were observed climbing a massive spiral staircase to the top of what seemed to be a suspended platform.
Closing Thoughts
After five days of watching MVFW, it’s exciting to see so many brands participating in the new chapter of fashion history, even if they couldn’t predict the outcome of this experiment. The shows didn’t turn out the way the brands expected, as seen by posts on their social media platforms. This is because brands posted the finest photographs from the exhibition rather than the reality of pixelated avatars and simple looks.
Perhaps the visuals were designed to make viewers nostalgic and only then to amaze them with beautiful results and development of how the future of MVFW will look, even with realistic impressions of the clothing and the models wearing them.
All we can do now is hope that the next fashion week will be more technologically advanced. Balenciaga will be added to the list because it appears to be the pioneer of digital fashion in the world of luxury.
You can also check out our CoinStats blog to learn more about wallets, cryptocurrency exchanges, portfolio trackers, tokens, etc., and explore our in-depth buying guides on how to buy various cryptocurrencies, such as How to Buy Ethereum Classic, What Is DeFi, How to Buy Cryptocurrency, etc.
March 2022 Market Recap and Outlook — Shrugging It Off
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While the past few months have been relatively bearish for the crypto space, the bulls emerged victorious in March as nearly all sectors regained lost ground. DeFi, Layer 1, and Metaverse sectors led the way with stellar gains in March, with +27%, +18%, and +17% returns, respectively.
How did BTC, ETH, and the NFT sector fare last month? Kraken Intelligence’s latest report, Shrugging It Off, takes a closer look at the events that shaped the crypto market in March.
The bulls came charging back
March proved to be a less volatile month for cryptocurrencies than February. While the month started off with a slump for BTC, the bulls came charging back in mid-March, posting a +3% return by the end of the month.
ETH posted even stronger gains, ending the month 11% higher although the asset experienced slightly less trading volatility than BTC. Network activity on Ethereum held steady over the course of the month as average gas fees remained flat month-over-month, while the number of whales and the total ETH they hold both increased sharply, meaning ETH’s price performance was more strongly associated with whale accumulation than an increase in network activity.
NFT activity cooled off
The NFT markets slowed down in March as the number of daily users and transactions fell 30% and 34%, respectively. Interestingly, volume fell only 11% due to an offsetting increase in the average volume per transaction by 33%. This implies high value buyers are sticking around as broader market activity cooled off, reflected in the increase in average prices of blue chip collections.
Prominent NFT brands have also made big moves in March. Bored Ape Yacht Club creators Yuga Labs, announced its IP rights acquisition of popular NFT projects CryptoPunks and Meebits from Larva Labs.
Want to learn more about what went down and what’s ahead? Download the Kraken Intelligence report Shrugging It Off to understand what’s moving the crypto market.
With lots of cryptocurrency protocols in the virtual space, there’s still a need to create a balance between fiat and digital currencies. The major bridge comes on compliance and AML levels, as many people have devised their means of circumventing the necessary procedure. Wallex brings outstanding measures and is pioneering as the lead in creating stability and compliance in the world economy through digital assets.
What is Wallex?
Wallex is a technological ecosystem that offers assets and digital assets to several users to carry out their business and daily lives. It serves different individuals, businesses, exchanges, broker-dealers, fintech projects, real estate platforms, financial institutions, OTC desks, crowdfunding portals, and others. The activities of Wallex are in over 200 parts of the world, including South America, Europe, North America, Africa, Asia, etc.
The operations of Wallex cut across numerous aspects and phases of lives. Some of its services are linked to the following:
Payments
AML and Compliance
Custody
Neobanking
Trading
Tokenization
White label solutions
Decentralized investment
Wealth management
Trustee
Pillars of Wallex Ecosystem
Wallex divided its general functionality into five major pillars, namely:
Neobanking – Through neobanking, Wallet offers its customers unlimited access to several cryptos and fiat currency accounts. They could easily deposit, withdraw, exchange and spend their cryptocurrencies with cards. Also, neobanking inculcates wallet, business banking, institutional engagements, staking, and
Custody – With the Wallex custody account, users could perform different activities. They could transfer assets from the crypto accounts, make exchanges with fiat currencies, and others. Custody involves the account’s vault, Escrow, and Custody Pro.
Trust – Wallex Trust operations cut across wealth management, wealth container, tokenization, and insurance.
Pay – Payment in Wallet passes through several methods. These include payment gateway, Eurst, Tokask, and Trustchain.
Exchange – Wallex maintains several activities through its exchange. These include borrowing, earning, ProTrade and others.
Founder and CEO
The founder and CEO of Wallex is Simone Mazzuca. He applies a combination of traditional financial and blockchain technology to create a formidable, strong, and reliable ecosystem that will secure even the future. Mazzuca has several years of experience in financial consulting and was a manager of private and institutional clients in the USA, UK, and Italy.
Wallex Contributory Strategy
Wallex is building its ecosystem using a contributory strategy that helps it to improve the economy. The protocol creates a bridge for millions of investors and users such that they can easily access the dividends of the virtual space through blockchain technology.
Wallex strategy is built on the following 5 pillars:
To create a link to the new financial world.
Develop a transparent and reliable financial ecosystem.
Impact the masses on how to utilize the blockchain
Keep up good contact with the customers.
Harness its organizational structure to proper maintenance and development of talents.
Wallex Past Achievements
Wallex has made several great achievements in the past that depict the great stance of its ecosystem.
Here are some of its milestones.
Launch of Wallex Custody
Initiation and launch of the EURST project. This made a great wave for Wallex as the project enabled the pegging of fiat currency to the digital stablecoin. It’s a method to control the high volatility of digital assets.
Wallex Bank and Statutory Trust incorporation.
Launch of Wallex Bank.
Launch of Wallex 2
Wallex Future RoadMap
Wallex has laid out some plans that will help it to keep up with its strategies in providing continuous services to its customers. Some of its roadmaps include:
Launch of WLLXB V.3
Issuance of more than 13 stablecoins.
Launch of crowdfunding platform.
Launch of Tokash
Increasing its number of customers to 1 million.
Launch of asset tokenization platform.
Opening of First Wallex Store
Establish a full ecosystem and become a Commercial Trust of Digital currencies.
Latest updates from the Cointelegraph team on the ground
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Disclaimer: This article is updated all day long. All time codes are in the UTC time zone, updates in reverse order (the latest update is placed at the top).
Paris Blockchain Week Summit (PBWS) hosts multiple thought leaders from the crypto and blockchain universe on its second day, and the Cointelegraph ground team is at the venue to deliver the most recent developments from the event.
Paris NFT Day, the prequel event to the PBWS, saw the announcement of Cointelegraph France. On Wednesday, the Cointelegraph team delivered the important tidbits from sessions, as well as quotes from exclusive interviews, in a near real-time manner. CT reporters had the chance to interview key people from the crypto ecosystem, including Binance CEO CZ, Tether chief technology officer Paolo Ardoino and Binance’s NFT platform lead Helen Hai.
Don’t forget to check this article regularly to get notified about the most recent announcements from the event.
8:00 — The second day kicked off with The Future of Crypto Exchanges in Emerging Markets session.
Bitfinex CTO Paolo Ardoino noted that Tether (USDT), a stablecoin, is seen as a reserve asset in Turkey, Venezuela, Argentina and other similar countries. It’s sad because it should be supposed to work as an FX currency, he added:
“Bitcoin, DEX and CEX are financial solutions for nearly 2 billion unbanked population around the world.”
Crypto Exchange With Belarusian Roots Halts Operations for Russian Users – Exchanges Bitcoin News
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Currency.com, a crypto exchange founded and initially licensed in Belarus, has suspended operations for Russian clients. The restrictive measure comes in response to Russia’s assault on Ukraine, the platform said, noting that customers in other jurisdictions will not be affected.
Currency.com Exchange Denounces ‘Terrible War’ in Ukraine, Denies Services to Russian Traders
Crypto trading platform Currency.com has announced its decision to halt operations for residents of the Russian Federation over Moscow’s military aggression against neighboring Ukraine. The move comes after, earlier, the Belarus-born exchange stopped opening new accounts for Russian users.
📢 halts operations for residents of the Russian Federation (Russia). Clients from other countries and regions will not be impacted by this decision.
In a statement released by the platform late Tuesday, the chief executive of the company’s Ukrainian division, Vitaly Kedyk, said that the Russian invasion has brought violence and disorder to the people of Ukraine and added:
We condemn the Russian aggression in the strongest possible terms. We stand with Ukraine and everyone who denounces this terrible war. In these circumstances, we can no longer continue to serve our clients from Russia.
Customers from other countries and regions will not be impacted by the decision. Currency.com emphasized it will continue to provide services to its global client base through its international network. The exchange maintains offices in New York, London, Gibraltar, Vilnius, and Warsaw.
Currency.com, founded by Belarusian tech entrepreneur Viktor Prokopenya, was initially based and licensed in Belarus, a close political, economic, and military ally of Russia. According to information on its website, Currency Com Bel LLC is a legal entity registered in Minsk in 2018.
The company is a resident of the Belarus High Technologies Park (HTP) and a token platform operator authorized under President Alexander Lukashenko’s Decree “On the development of the digital economy,” which legalized crypto business activities four years ago. Its Gibraltar-registered merchant company, Currency Com Limited, is a licensed money services business in Canada and the U.S.
In late February, right after Russian forces crossed the Ukrainian border, representatives of Currency.com were quoted by the crypto news edition of the Russian business portal RBC as stating that the exchange does not plan to ban Russian users.
Since the beginning of the hostilities, Currency.com has donated over $1 million toward humanitarian initiatives in Ukraine. The funds are used by government institutions and volunteer organizations helping Ukrainians displaced by the conflict with food, shelter, and medical care.
Do you expect other cryptocurrency platforms operating in Eastern Europe to introduce similar restrictions for Russian users? Tell us in the comments section below.
Lubomir Tassev
Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
