GMX, the perpetual trading decentralized exchange (DEX) allowing up to 50X leverage, now generatesย more trading fees than the BNB Smart Chain (BSC) and Bitcoin. GMX Is The Third Most Active Platform According to statistics, GMXโs 1-day fee on January 19 was around $589,000, while BSC and Bitcoin on-chain fees, over the same period, stood at $524,232 and $328,935, respectively.ย GMX Fees| Source: CryptoFees Ethereum and Uniswap are the only two major protocols more active than the perpetual trading decentralized exchange, per the above data. During this time, the total Gas…
Day: January 19, 2023
WEF Unveils Global Collaboration Village Metaverse Platform โ Metaverse Bitcoin News
The World Economic Forum (WEF) has announced the rollout of the Global Collaboration Village, its own metaverse platform, for this year. Klaus Schwab, chairman of the WEF, plans to leverage this representation of Davos to allow people and leaders to meet in virtual worlds and coordinate global collaboration efforts efficiently. WEF to Promote Metaverse-Based Collaboration The World Economic Forum (WEF) has announced the rollout of its own metaverse platform, dubbed the Global Collaboration Village. The digital world, designed to look like the actual town of Davos in which the organization…
Paxos Courts MakerDAO With Paying Yield for Holding Up to $1.5B USDP Stablecoin
USDP is a dollar-pegged stablecoin one-to-one backed by cash and cash-equivalent U.S. government debt instruments, according to independent attestations. Both Paxos and USDP are regulated by the New York Department of Financial Services (NYDFS), the stateโs leading financial regulatory agency. Effectively, Paxos would pass a part of the revenue earned on the government bonds backing USDP to Maker. Source
Bots are a critical tool for retail investors
The thing about the future, where robotic super traders battle over micromovements in stock price, is that itโs already here. With access to algorithmic trading bots a click away, we could be seeing the fall of human investors and the triumph of artificial intelligence.ย Algorithmic trading bots are programmed to buy and sell when they detect preprogrammed conditions and can execute pretty much any trading strategy. They have been used by professional traders for two decades, and these firms have taken them into the crypto markets too. Now, a new…
World Economic Forum Wraps Up Davos 2023 With Sparks
The World Economic Forum’s annual meeting wrapped up with a fiery panel on the role of regulators in crypto, plus more from Davos, Switzerland. Source
Tech Veteran-Backed Web3 Social Platform Plai Labs Raises $32M in Seed Round
โImagine being able to use your AI-based profile and putting it in any situation, like a piece of art. That has implications for games and the metaverse, inside Champions and also some other social platforms that we’re interested in developing down the road,โ said Whitcomb. Source
Nexo agrees to $45M settlement with SEC and states over earn product
Crypto lender Nexo Capital has agreed to pay $45 million in penalties to the U.S. Securities and Exchange Commission (SEC) and the North American Securities Administrators Association (NASAA) for failing to register the offer and sale of its Earn Interest Product (EIP). The news was announced by the SEC and NASAA in two separate statements on Jan. 19. According to the statement from the SEC, Nexo agreed to pay a $22.5 million penalty and cease its unregistered offer and sale of the EIP to U.S. investors. The additional $22.5 million…
Nexo agrees to $45M settlement with SEC and NASAA over earn product
Crypto lender Nexo Capital has agreed to pay $45 million in penalties to the United States Securities Exchange Commission (SEC) and The North American Securities Administrators Association (NASAA) for allegedly failing to register the offer and sale of its Earn Interest Product (EIP). The news was announced by the SEC and NASAA in two separate statements on Jan. 19. According to a statement from the SEC, Nexo agreed to pay a $22.5 million penalty and cease its unregistered offer and sale of the EIP to U.S. investors. The additional $22.5…
Crypto Lender Nexo to Pay $45M, Cease Offering EIP in Settlement With SEC
The U.S. Securities and Exchange Commission (SEC) charged crypto lender Nexo with failing to register the offer and sale of its Earn Interest Product (EIP). Nexo has agreed to pay a $22.5 million fine to the SEC and another $22.5 million to settle similar charges by state regulators. Source
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