Today, I’ve been thinking about the legal side of crypto. MiCA, a fresh crypto regulation in the EU law, has just come into effect and taken the situation with digital assets under control.
Crypto exchanges may delist certain noncompliant stablecoins or restrict services for the EU and some crypto exchanges have already started delisting USDT.
As regulatory frameworks tighten, some stablecoins and certain services might indeed face challenges or choose to leave EU exchanges to comply with stringent requirements.
They make it seem like building #Web3 is a huge hassle. It’s not. The problem is that many vie to set industry standards, but the field is cluttered with promising ventures lacking leadership and utility.
The success formula is pretty straightforward:
Find your product-market fit. Get the right people to build it. Scale through partnerships.
Ever wondered why clicker games are so addictive?
They're designed for easy play, constant rewards, and a sense of achievement even with minimal effort. You maybe a casual player or a perfectionist, there's something for everyone.
🏅Speaking of achievements: Time Farm has onboarded 14 million users in less than a month!
And here are more stats to prove the point: TON already outperformed the Bitcoin network by 118%, largely thanks to clicker games.
Telegram's user base is massive, with around 1 billion users, and they are slightly more tech-savvy than the rest.
And with all the new crypto mechanics Telegram is about to introduce... I have a good feeling about it.
✈️Checked off a bucket list item: my Telegram channel is now verified!
Can't deny, loving the massive audience boost these days.
The best part about premeditated initiatives is that they always get noticed.
Guess who thanked us for launching the Base Incubator? Jesse Pollak, the creator of Base.
At moments like this you know you’re on the right track.
And of course, the pleasure is ours!
LaborX has recently integrated with Optimism, and since then, we’ve managed to feature in their weekly updates twice and even interviewed OP Labs’ Talent Lead.
Personally, I see this partnership as a major milestone: partnering with a tier-1 US project that everyone in the crypto space knows is definitely a win!
Setting the stage for even more exciting opportunities and growth in the near future!
🕯 Daily review of the cryptocurrency market
There are no significant changes in the market. BTC is trying to break above $60,700. ETH is trading below $3,400.
🔼 There are few growing assets: KAS +6%, TON +3%.
🔽 There are many more falling assets: CFX -8%, ENS -8%, FET -7%, WLD -7%, AGIX -6%, INJ -6%, JASMY-6%, PEPE -6%, WIF -6%, TAO -5%, VET -5%.
💩 Protect your finances
In the second quarter of this year, the crypto industry suffered losses totaling $572.7 million due to hacker attacks and fraud.
💩 This is nearly as much as was stolen throughout all of 2023.
💩 The majority of thefts occurred on the Ethereum and BNB Chain networks.
💩 Why is the crypto industry vulnerable to hacker attacks and fraud?
It's all due to transaction anonymity, weak regulation, lack of investor education, and the potential for quick enrichment amidst the high volatility of the cryptocurrency market.
💩How to protect yourself?
Make sure to use reliable and verified platforms, master basic security principles like two-factor authentication, and exercise caution when investing.
Also, enhance your knowledge in this field to stay one step ahead of malicious actors!
💩 Weekly Crypto News Recap
It's time to recall the most significant events in the crypto industry this week.
💩 Tether will cease support for EOS and Algorand.
💩 Mt Gox starts BTC and BCH payouts in July.
💩 Solana introduced the Blinks tool.
💩 Blast Foundation launched the BLAST tokenomics, along with an airdrop and the second season of token farming.
💩 Bitstamp will delist the euro-backed stablecoin Tether EURT.
💩 Binance receives full VASP license in Dubai.
💩 VanEck applies to launch an exchange-traded fund based on SOL.
💩 Launch of spot ETFs for ETH may occur on July 4.
💩 FTX denies withdrawals to users whose bank accounts had significantly less money than on the exchange.
🕯 Daily review of the cryptocurrency market
The market is trying to recover. BTC is trading just below $61,600. ETH has risen above $3,400.
🔼 There are many growing assets: AKT +17%, ENS +13%, BOME +13%, CFX +10%, AVAX +10%, DOT +9%.
🔽 There are much fewer falling assets: FET -10%, AGIX -8%, QNT -4%.
💩 Blockchain: The Future or a Utopia?
A few years ago, I would have said without a doubt that it is the future. Today, things are different...
At the dawn of its inception, this technology fully embodied the concept of decentralization and followed Satoshi Nakamoto's principles of decentralization. Back then, it truly seemed that blockchain was the future.
💩 Answering this question now, I can unequivocally say that today and in the future, blockchain is a utopia.
Why?
Even the largest blockchains, such as BTC and ETH, are too concentrated in a few hands:
💩 For BTC, just three major pools (Foundry USA and Antpool) control over 50% of the network's total hash rate.
💩 For ETH, over 40% of the asset is concentrated in the hands of a certain group of validators.
Naturally, with such a distribution, it does not fit the concept of decentralization at all.
💩 New Requirements Come Into Force
Representatives of the cryptocurrency exchange Binance have announced that they will disable copy trading for users in the EU.
💩These measures are related to the enforcement of the MiCA law, which will take effect on June 30.
The exchange urged users to close existing positions by June 27. Otherwise, they will be forcibly closed "at market."
💩 Simultaneously, Bitstamp announced the delisting of the euro stablecoin Tether EURT and other stablecoins that do not comply with the new EU requirements.
🕯 Daily review of the cryptocurrency market
There are no significant changes in the market. BTC rose slightly to $61,600. ETH is trading below $3,400.
🔼 There are several growing assets: NOT +10%, ENS +9%, STX +8%, PEPE +7%, BRETT +6%, MKR +6%.
🔽 There are fewer falling assets: PENDLE -5%, LDO -5%, ZRO -4%, NEAR -4%, AR -4%, SUI -4%, FTM -4%.
💩 Which is more popular: Time Farm or Hamster Combat?
With the launch of our new project, Time Farm, I've been flooded with questions about whether we plan to replicate the success of "Hamster". Let me clarify the situation.
💩 Obviously, with an audience of 150 million users, "Hamster" is the mega-boss of all tap games. At least for now. By the way, the project was launched by a good friend of mine, so I believe in its success.
💩 What’s the difference?
Hamster Combat is a game that will be available in the App Store in the future.
💩 Time Farm is a completely different product. It's part of a larger ecosystem. It's a platform that gives people a real opportunity to earn real, already existing, cryptocurrency, not dubious tokens.
💩 It's important to understand that the community of Time Farm is somewhat different from the audience of "Hamster". We are building a community of people who want to do something and work for crypto, which is what we've been doing for the last 7-8 years.
Therefore, it's not about who is losing to whom. The difference lies not only in the number of users but also in the goals of the projects.
🪙 Tether Discontinues Issuance of USDT on EOS and Algorand Blockchains Due to Low Interest
💵The total supply volume on the two chains is just over $102 million. The exchange will be available for a year. During this time, Tether may change its decision.
🔼Meanwhile, the amount of issued USDT on the TON network has exceeded 580 million tokens.
Old and unnecessary blockchains are fading into the past, replaced by more progressive ones.
LaborX is a product-market fit in action. The issue of hiring and getting hired is perpetual, yet before LaborX there wasn’t a place for that.
We’ve simply made a platform that brings together top employers and talent, added the crypto payment functionality, and started actively attracting well-established companies.
Jump into collaboration mode and form teams with other complementary Web3 projects as soon as you identify your product-market fit. Build up your infrastructure. Engage more enthusiastic people. Continue building and working on that UI/UX and narrative.
As the Web3 ecosystem evolves, adapting and expanding collaboratively will ensure enduring success.
Visibility goes beyond spending; often, it can be achieved without cost.
Polkadot's challenge underscores the importance of aligning strategically with community interests and fostering organic engagement.
With the right team and a focus on targeted strategies, everything falls into place.
Since a whole lot of you are interested in clicker games, let’s talk about that.
Everyone in Web3 is obsessed with bridging Web3 and Web2 because the space needs new users desperately. Can clicker games play a role in that? I do believe in interactive experiences leading the way to a decentralized future.
🪁 Crypto incentives, decentralized mechanics, and smooth onboarding can make clicker games a great entry point for non-native Web2 users.
I came across this article claiming AI might harm employee well-being due to social isolation. As the founder of a Web3 jobs marketplace, this resonates with me. Although I haven't met anyone saying, "I wish I could go back to the office," the problem is real.
What practices should employers implement to address this issue once and for all?
First, we integrated Optimism. Then, we moved on to Op Stack-based Base and integrated it too. Then, we came up with the Base Incubator idea.
The Base Incubator was designed to empower builders, providing them the freedom to innovate on Base. This initiative perfectly aligns with our vision of fostering innovation and nurturing talent and creativity within the community.
When you're tired of waiting for changes in the market 😅
Читать полностью…
💩 The SEC has sued MetaMask developer ConsenSys
According to the commission, this wallet is an unregistered broker engaged in offering and selling securities.
💩 The SEC's attention was drawn to the collection of over $250 million in fees generated by ConsenSys' activities.
Earlier, ConsenSys had reported the SEC's investigation into Ethereum had been terminated, but here's the twist!
Important point:
💩 However, the SEC does not oppose Ethereum staking. They even promote it. But they advocate for people to do it themselves rather than through various providers.
There's no threat to Ethereum and its staking. But those promoting such services may face tough times.
🕯 Daily review of the cryptocurrency market
The market went into correction again. BTC has dropped to $60,700. ETH is trading below $3,400.
🔼 There are few growing assets: QNT +7%, AR +4%.
🔽 There are many more falling assets: LDO -15%, ENA -8%, STRK -7%, GNO -7%, TAO -6%, NOT -6%, BONK -6%, BOME -6%, UNI -6%, PEPE -5%.
💩What to expect from TimeFarm?
Let me tell you the main thing — this is just the beginning of something great and new...
As you can see, Chrono.tech, LaborX, TimeX, and our other platforms are aimed at mass adoption.
💩 In the future, TimeFarm will feature many more gaming mechanics and mini-tasks, where successful completion will earn you in-game tokens and other rewards.
💩Currently, people earn $SECOND for activities in the app, but in the future, they will be able to earn tokens from various projects, as we plan a huge number of partnerships and collaborations.
Stay tuned for updates! The project roadmap will be published soon, and there's plenty to surprise you!
💩 Coinbase is suing the SEC and the Federal Deposit Insurance Corporation (FDIC)
The reason is the refusal to clarify the situation regarding cryptocurrency sector regulation.
💩 The exchange stated that the regulators did not comply with the requirements of the Freedom of Information Act. Specifically, this concerns past inquiries about Ethereum and the regulator's interpretation of the asset.
Here is a quote from the case:
"For nearly two years, various federal financial regulators, including the Securities and Exchange Commission, the Federal Deposit Insurance Corporation, and the Board of Governors of the Federal Reserve System, have employed the full arsenal of their tools, actively attempting to harm the digital asset industry."
🕯 Daily review of the cryptocurrency market
There are no significant changes in the market. BTC is barely holding on at $61,000. ETH is trading below $3,400.
🔼 There are several growing assets: KAS +12%, MKR +9%, AKT +5%, LDO +4%.
🔽 There are many more falling assets: BRETT -9%, AR -8%, AGIX -6%, BEAM -6%, ENA -6%, FLOKI -4%, WLD -6%.
💩 I often say that cryptocurrency has radically changed my life... why?
💩 Firstly, cryptocurrency has given me the understanding that anything in this world is possible and achievable. The blockchain industry has shaken even such established spheres as traditional finance and banks. This is the brightest proof that nothing is impossible!
💩 The second aspect is people. After immersing myself in the crypto industry, I am constantly amazed at how unique the human brain is and how great its possibilities and potential are. I am truly impressed by the number of talented and intelligent people capable not only of inventing new projects and technologies but also of bringing them to life.
💩 Solana Introduces a New Primitive - Blinks
Now, in absolutely any place where there is an opportunity to share a link on the Internet, it is possible to initiate activity on the Solana network.
💩 The Solana network has introduced "blinks," or "blockchain links." These are links for further dissemination directly to a blockchain transaction, allowing it to be conducted from anywhere.
💩 These can include operations for sending coins, exchanges, payments, crypto donations, voting, and so on.
💩 The idea is that such links are suitable for use on a variety of platforms, including Twitter. And the corresponding operations will be instantaneous.
🕯 Daily review of the cryptocurrency market
Assets on the market are trading in different directions. BTC fell to $61,100. ETH is trading below $3,400.
Yesterday, the team of the bankrupt crypto exchange Mt․Gox announced that the exchange’s clients will begin to return their assets in early July. Of course, the market reacted with a fall, since the exchange must pay out as much as 142,000 BTC and 143,000 BCH.
🔼 BTC was hit the hardest. Some altcoins have already started to recover: FET +20%, AGIX +20%, WIF +17%, LDO +17%, BONK +14%, INJ +13%, TIA +13%, ONDO +13%, AAVE +12%.
🔽 There are fewer falling assets: ORDI -6%, GNO -5%, KCS -3%.
🤖 ChatGPT-4 Passes the Turing Test
Specialists from the University of California asked about 500 participants to interact with both humans and AI models in a blind test. The main task for each participant was to determine whether they were interacting with a human or a computer.
56% of the participants mistakenly identified ChatGPT as a human. According to Vitalik Buterin, OpenAI’s creation has passed the Turing Test:
"The ability of people to determine who is in front of them — a human or a bot — is practically identical to a coin toss! Well, that's not quite true, because people are identified as humans in 66% of cases, and as bots in 54% of cases, but the 12% difference is negligible; in any real-world setting, this is considered a pass."Читать полностью…
