DWF Labs Renews Collaboration with DMCC to Propel MENA Blockchain Ecosystem Forward

DWF Labs is committed to investing in 50 startups operating in the web3 space, with a significant investment of USD $500,000 reserved for the most promising business. The partnership builds upon the foundation laid by the previous agreement, which included the establishment of a $5 million growth platform for Web3 businesses at the DMCC Crypto Centre.

The collaboration centers around the DWF Venture Studio, which offers a range of benefits to startups based in DMCC, such as consultancy services, market-making services on tier one and two exchanges, and workshops. The DMCC Crypto Centre serves as a comprehensive ecosystem for companies developing Web3 and blockchain technologies, with 600 businesses currently operating in the space, making it the highest concentration of crypto firms in the region.

With TOKEN2049 Dubai on the horizon, DWF Labs is preparing to showcase the transformative opportunities available within the MENA blockchain landscape. Startups and entrepreneurs are encouraged to join the DMCC Crypto Centre and leverage the resources and support provided by the DWF Venture Studio.

Andrei Grachev, Managing Partner at DWF Labs, expressed excitement about the partnership renewal, stating, “We are excited to renew our partnership with DMCC and continue our mission of driving innovation and growth within the MENA blockchain ecosystem. As we prepare for TOKEN2049 Dubai, we encourage startups and entrepreneurs to join us in harnessing the potential of the DMCC Crypto Centre and the DWF Venture Studio.”

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Binance Academy Introduces University-Accredited Programs with Discount and Rewards

Binance Academy has recently unveiled a range of university-accredited programs in partnership with leading educational institutions in Europe. These programs are designed to provide learners with in-depth knowledge and understanding of blockchain technology and digital assets.

The participating universities include the Prague University of Economics and Business (VŠE), the European Business Institute (EBI) of Luxembourg, and the ESCP Business School. Each program has been developed in collaboration with experienced professors who teach crypto and blockchain-related courses on campus.

To ensure accessibility and affordability, Binance Academy has priced the enrollment fees for these programs at just 10 USDT. This discounted rate aims to make high-quality education in the field of blockchain accessible to learners worldwide.

Upon successful completion of a program, participants will receive a co-branded certificate from the respective university and Binance Academy, enhancing their credentials and knowledge in the blockchain industry.

To celebrate the launch of these university-accredited programs, Binance Academy is offering a limited-time discount and rewarding participants. During the activity period, users who enroll in any of the new programs using Binance Pay will receive a 60% discount on the enrollment fees. This means that the enrollment fee for each program is reduced to 4 USDT during the promotional period.

Furthermore, the first 2,000 new users who complete the program and meet specific requirements will receive a 4 USDT token voucher as a reward. The tasks include registering for a Binance account, completing identity verification, purchasing a university program using Binance Pay, completing the program, and sharing the certificate of completion on social media.

It is important to note that this activity may not be available in all regions, and only verified Binance users from qualified regions where Binance Pay is available are eligible to participate and receive rewards. The token voucher rewards will be distributed within 21 working days after the activity ends.

Binance Academy aims to provide comprehensive and accessible education in the field of blockchain and digital assets. Through these university-accredited programs, learners can enhance their knowledge and skills, bolstering their understanding of the rapidly evolving blockchain industry.

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Israeli Central Bank Official Embraces CBDC Competition with Banks for Economic Growth

Israeli central bank official, Andrew Abir, sees the introduction of the digital shekel as a catalyst for technological advancements that will drive competition in the banking sector. He acknowledges the ongoing efforts to increase competition in the Israeli banking industry and states that there is still a long way to go. Abir notes that public sentiment towards commercial banks in Israel is not always favorable, and part of the discontent stems from the need to improve competition in certain segments of the industry.

The digital shekel, currently in the planning stages, is designed to include an option for paying interest. Abir assures the public that the digital shekel will be developed by the Bank of Israel, a trusted institution that stands behind the traditional cash system. He emphasizes that the digital shekel will not be created by an anonymous entity like Satoshi Nakamoto, the pseudonymous creator of Bitcoin, but rather by a transparent and accountable central bank.

Abir highlights the advantages of introducing a digital shekel for the Bank of Israel as well. It would provide the central bank with greater accessibility to central bank money, facilitating its use in digital payments. This would counteract the declining trend in central bank money usage resulting from advancements in the private sector. Additionally, the digital shekel could incentivize commercial banks to offer higher interest rates to customers, as the option to hold digital shekels would increase competition.

The digital shekel has garnered strong support among the Israeli public, indicating a positive reception for the potential benefits it offers. The introduction of a CBDC like the digital shekel is seen as a step towards enhancing competition in the financial system, driving innovation, and ultimately benefiting the Israeli economy.

As the Bank of Israel continues to develop the digital shekel, it aims to create a trusted and efficient digital currency that aligns with the country’s financial goals. With the support of central bank officials like Andrew Abir, the digital shekel has the potential to revolutionize the Israeli banking industry and pave the way for a more competitive and technologically advanced financial system.

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UK Finance Launches Experimental Phase for Regulated Liability Network (RLN)

UK Finance, a pivotal entity in the banking and finance sector of the United Kingdom, has initiated an experimental phase to delve into the capabilities and benefits of the UK Regulated Liability Network (RLN). This innovative phase involves a strategic partnership with eleven member organizations, aiming to unlock new possibilities in digital transactions and finance management through the RLN.

The experiments conducted under this initiative will scrutinize three distinct use cases: payment-upon-delivery for physical products, improvements in the homebuying process, and digital bond settlement. These cases are chosen to address specific challenges in the current financial ecosystem, ranging from online transaction fraud to inefficiencies in property transactions and bond settlements.

Payment-upon-Delivery for Physical Products

This use case is designed to combat fraud in online transactions by ensuring that payments are made only when the physical product is successfully delivered. By leveraging the capabilities of the RLN, this approach promises to bolster security and trust in e-commerce, offering a more reliable shopping experience for consumers.

Homebuying Process Improvements

Focusing on the real estate sector, this use case aims at enhancing transparency for customers and reducing conveyance fraud, a prevalent issue where deceit is used to evade creditor claims. The RLN’s application in this area is expected to provide a secure and transparent platform for property transactions, significantly mitigating risks associated with property dealings.

Digital Bond Settlement

The third use case explores the use of digital money for settling digital bonds. By incorporating the RLN, this initiative seeks to streamline the settlement process, potentially reducing costs and improving operational efficiency in financial markets.

Alignment with Project Rosalind

The experimental phase of the RLN is closely aligned with Project Rosalind, a collaborative initiative between the Bank for International Settlements and the Bank of England. Project Rosalind is focused on developing an application programming interface (API) for a potential digital pound. The RLN experiments are set to explore foundational capabilities that ensure compatibility and interoperability with future digital currency initiatives, thereby paving the way for more integrated and efficient financial operations.

The collaboration between UK Finance and its member organizations through the RLN experiments marks a significant step towards modernizing the financial landscape of the UK. By addressing critical issues through tailored use cases and aligning with broader digital currency projects like Project Rosalind, the initiative not only promises enhanced operational efficiencies but also positions the UK at the forefront of financial innovation.

As these experiments unfold, the outcomes are expected to contribute substantially to the shaping of a safer, more transparent, and efficient financial future.

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CoinGecko: 2024 Q1 Strong Crypto Industry Growth Propels Market Cap to $2.9 Trillion

The 2024 Q1 Crypto Industry Report by CoinGecko showcases the continued growth and development of the cryptocurrency market. The report highlights key statistics and trends observed during the first quarter of 2024.

Bitcoin (BTC) emerged as a top performer, growing by 68.8% and reaching an all-time high of $73,098. This growth was attributed to the approval of US spot Bitcoin ETFs in early January. The report also indicates that Bitcoin ETFs held over $55.1 billion in assets under management (AUM) by April 2, 2024.

Ethereum (ETH) also witnessed positive growth, with the total number of restaked ETH on the EigenLayer platform increasing by 36% to 4.3 million. Additionally, Solana memecoins experienced a surge in market cap, growing by $8.32 billion in Q1.

The NFT market remained active, with NFT trading volume across the top 10 marketplaces reaching $4.7 billion. Magic Eden emerged as the leading marketplace in terms of market share.

Spot trading volume on centralized exchanges (CEX) reached $4.29 trillion in Q1, the highest since Q4 2021. However, Ethereum’s share of decentralized exchanges (DEX) trading volume fell below 40%, indicating the increased attention given to other blockchain networks.

The report provides comprehensive insights into these developments, featuring 50 slides of analysis and data. It offers valuable information for investors, traders, and industry enthusiasts seeking to understand the current state of the crypto market.

CoinGecko’s 2024 Q1 Crypto Industry Report demonstrates the continued growth and innovation within the cryptocurrency industry. As the market expands and evolves, it is crucial to stay informed about the latest trends and developments to make informed decisions.

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Binance Launches Megadrop: A Token Launch Platform with Airdrops and Web3 Quests

Binance, the largest cryptocurrency exchange, has recently announced the launch of Binance Megadrop, a new token launch platform that offers a unique combination of airdrops and Web3 quests. This platform allows users to subscribe BNB to Locked Products and complete tasks in their Web3 Wallet to gain early access to rewards from selected Web3 projects before their tokens are listed on the Binance Exchange.

The first project to be introduced on Binance Megadrop is BounceBit (BB), a BTC restaking chain. The token details for BounceBit are as follows: Max Token Supply: 2,100,000,000 BB, Megadrop Token Rewards: 168,000,000 BB (8% of max token supply), Initial Circulating Supply: 409,500,000 BB (19.5% of max token supply).

To get started with Binance Megadrop, users need to log into their Binance account and ensure they have at least one active Binance Web3 Wallet. They can then subscribe to BNB Locked Products and/or complete Web3 Quests to accrue scores. These scores will determine the rewards received through the Megadrop program.

The scoring system for Megadrop is based on the Locked BNB Score, which is calculated based on the quantity of BNB subscribed and the length of the subscription period. Users will also receive a Web3 Quest Bonus and a Web3 Quest Multiplier when they complete the designated Web3 Quests. The total score is calculated by applying the Web3 Quest Multiplier to the Locked BNB Score and adding the Web3 Quest Bonus.

It is important to note that external wallets imported to the Binance Web3 Wallet will not count, and only backed-up wallets created within the Binance Web3 Wallet can participate in Megadrop. The Megadrop rewards will be airdropped to users’ Binance Spot Wallets.

It is crucial for users to complete identity verification and hold at least one active Binance Web3 Wallet to qualify for Megadrop rewards. Additionally, there are certain eligibility criteria for participants based on their jurisdiction. Users from Australia, Canada, Cuba, Crimea Region, Hong Kong, Iran, Japan, New Zealand, Netherlands, North Korea, Russia, Singapore, Syria, United Kingdom, United States of America, and its territories are currently not eligible to participate in BB Megadrop.

Binance Megadrop aims to provide users with an interactive and rewarding experience within the crypto ecosystem. More details regarding the Megadrop amount, Web3 Quests, and the detailed listing plan will be announced separately.

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Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins

In a letter addressed to Treasury Secretary Janet Yellen, US Senator Elizabeth Warren has expressed her support for the implementation of robust Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) measures for stablecoins. Warren’s letter emphasizes the importance of adopting the full suite of AML tools requested by the Treasury Department in a November 2023 letter to Congress.

Warren highlights the growing threat that cryptocurrencies, particularly stablecoins, pose to national security. She specifically mentions the reliance of Iran and Hamas on crypto to fundraise and finance terrorist attacks. To effectively combat this threat, Warren argues that any new crypto legislation must include the comprehensive AML/CFT authorities requested by the Treasury Department.

The Senator references Deputy Secretary Adewale O. ‘Wally’ Adeyemo’s testimony before the Senate Committee on Banking, Housing, and Urban Affairs, where he emphasized the need for additional AML authorities to counter the threat posed by cryptocurrencies. Warren points out that excluding key players in the digital asset ecosystem, such as miners and validators, from AML/CFT requirements would allow bad actors to profit from the increased crypto trading facilitated by stablecoin legislation.

Warren’s stance on the regulation and oversight of crypto aligns with her previous efforts to rein in illegal activities and protect consumers, the financial system, and national security. She has been an advocate for closing loopholes in AML rules that allow sanctioned entities like Iran to earn revenue through crypto transactions. Additionally, Warren has raised concerns about the use of crypto in terrorist financing and has called for stronger rules to protect consumers and national security in stablecoin-related legislation.

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Binance Adds APT/USDC, GALA/USDC, NEO/USDC, OMNI/BRL, and STX/USDC Trading Pairs

Binance, a leading cryptocurrency exchange, has unveiled its latest update, which introduces new trading pairs and the availability of Trading Bots services on the Binance Spot platform. This move is in line with Binance’s commitment to delivering an exceptional trading experience to its users and expanding their trading options.

Effective from April 19, 2024, Binance Spot users will have access to a selection of new trading pairs. The newly added pairs include APT/USDC, GALA/USDC, NEO/USDC, OMNI/BRL, and STX/USDC. By offering these additional trading pairs, Binance aims to provide users with more opportunities to diversify their cryptocurrency portfolios and engage in a wider range of trading activities.

One of the notable features introduced alongside the new trading pairs is the Trading Bots services. Trading Bots allow users to automate their trading strategies, enabling them to execute trades based on predefined algorithms. This feature is designed to facilitate faster and more efficient trading, saving users valuable time and effort.

However, it’s important to note that eligibility to trade these new pairs is subject to certain restrictions based on the user’s country or region of residence. Binance has identified a list of countries that are currently restricted from trading the new pairs. These countries include Canada, Cuba, Crimea Region, Iran, Netherlands, North Korea, Syria, the United States of America, and its territories (American Samoa, Guam, Puerto Rico, the Northern Mariana Islands, the U.S. Virgin Islands), as well as any non-government controlled areas of Ukraine. Binance reserves the right to update this list in accordance with relevant laws and regulations.

To gain access to the new trading pairs and utilize the Trading Bots services, Binance Spot users are required to complete the account verification process. This verification procedure ensures compliance with regulatory requirements and contributes to maintaining the security and integrity of the platform.

Binance remains committed to enhancing users’ trading experiences by continuously introducing new features and expanding its services. In addition to the new trading pairs and Trading Bots, Binance offers a range of other services such as margin trading, peer-to-peer trading, options trading, and more. Users can also benefit from educational resources provided by Binance Academy, stay informed through the blog and research section, and explore various opportunities within the cryptocurrency industry.

Please note that the value of digital assets is subject to high market risk and volatility. Users are advised to exercise caution and seek professional advice before making any investment decisions. Binance cannot be held responsible for any losses incurred by users.

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Introducing Scroll Sessions: Native zkEVM Layer 2 for Ethereum

Scroll, a prominent player in the blockchain space, has recently announced the launch of Scroll Sessions, a native zkEVM Layer 2 solution designed specifically for the Ethereum network. This innovative technology aims to address the scalability and high transaction costs associated with the Ethereum blockchain.

With the rapid growth of decentralized applications (dApps) and the increasing popularity of the Ethereum network, scalability has become a pressing issue. The current limitations of Ethereum’s Layer 1 infrastructure have resulted in congestion and skyrocketing gas fees, hindering the seamless user experience and adoption of dApps.

Scroll Sessions introduces a unique approach to scalability by leveraging zero-knowledge proofs (zkSNARKs) technology. By incorporating zkEVM, a native Layer 2 solution, Scroll aims to significantly enhance Ethereum’s throughput, allowing for faster and more cost-effective transactions.

The integration of zkEVM enables the execution of Ethereum smart contracts off-chain, while maintaining the same level of security and trust as the Layer 1 Ethereum network. This off-chain execution reduces the computational burden on Ethereum’s mainnet, resulting in improved scalability and reduced gas fees for users.

One of the key advantages of Scroll Sessions is its compatibility with existing Ethereum smart contracts. Developers can seamlessly migrate their contracts to Scroll Sessions without the need for any modifications, ensuring a smooth transition to the Layer 2 solution.

In addition to enhanced scalability, Scroll Sessions also offers privacy features through zkSNARKs technology. This allows users to maintain the confidentiality of their transactions and data, further enhancing the overall security of the platform.

The introduction of Scroll Sessions has garnered significant attention within the blockchain community, as it has the potential to address the scalability challenges faced by Ethereum. By providing a seamless and cost-effective Layer 2 solution, Scroll aims to unlock the full potential of the Ethereum ecosystem, enabling greater adoption of dApps and facilitating a more efficient blockchain experience.

As the development of Layer 2 solutions continues to gain momentum, Scroll’s native zkEVM Layer 2 technology holds great promise for the future of Ethereum. With its focus on scalability, cost-effectiveness, and privacy, Scroll Sessions could pave the way for a more scalable and inclusive blockchain ecosystem.

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Binance Pool Introduces Zero Pool Fees for Nervos Network (CKB) Mining

Binance Pool, one of the leading cryptocurrency mining pools, has introduced a new mining service for the Nervos Network (CKB). This announcement comes as part of Binance’s ongoing efforts to expand its mining offerings and provide users with more opportunities to participate in the crypto mining ecosystem.

During the promotion period, which runs from 2024-04-18 00:00 (UTC) to 2024-05-18 00:00 (UTC), all users of the CKB mining pool on Binance Pool will enjoy zero pool fees for mining CKB. This means that miners can maximize their earnings without incurring any additional costs.

To get started, users are required to complete identity verification (KYC) and refer to the CKB Mining Tutorial provided by Binance Pool. By following these steps, users can join the CKB mining pool and begin mining CKB with zero pool fees.

It is worth noting that users can track their current hashrate on Binance Pool and monitor their mining earnings. This allows miners to stay informed about their performance and optimize their mining activities.

Furthermore, users who reach the Binance Pool VIP level requirements based on their hashrate level can apply for VIP status by sending an email to poolvip@binance.com. VIP status provides additional benefits and rewards for eligible participants.

To ensure eligibility for the rewards, users must have their accounts verified. Binance reserves the right to disqualify participants who engage in fraudulent activities or fail to comply with the terms and conditions of the promotion.

As with any investment in digital assets, users should be aware of the high market risk and price volatility. The value of investments can fluctuate, and there is no guarantee of returns. It is crucial for individuals to carefully consider their investment experience, financial situation, objectives, and risk tolerance before making any investment decisions.

Binance remains committed to providing a secure and reliable platform for cryptocurrency mining and trading. Users can access Binance’s crypto trading app for seamless trading on-the-go and stay connected through Telegram, Facebook, and Instagram for the latest updates.

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