Hong Kong wants to be a Web3 hub, Financial Secretary Paul Chan said. Source
Hong Kong Sets Up Task Force for Web3 Development
Day: July 3, 2023
5 blockchain-based social media platforms to know
Social media networks built on the blockchain are revolutionizing the way we share, interact and communicate with people online. These systems offer improved transparency, data ownership and decentralized incentives by utilizing the power of blockchain technology. This article will discuss five well-known blockchain-based social media sites: Steemit, Verasity, Binded, Audius and Sapien. Steemit Based on the Steem blockchain, Steemit is an innovative decentralized social media network. Users are paid for curating and creating content in this novel incentive approach. Users are motivated to create high-quality content and interact with the…
Rari governance token surges 26% amid market consolidation
Despite the prevalent consolidation observed across the market, the Rari governance token (RGT) has rallied by over 26% in the last 24 hours. The recent upsurge comes after the asset traded within a range for the most of last month. RGT is up 26.27%, which ranks 788 on CoinMarketCap (CMC), and has witnessed higher gains over the past 24 hours than the majority of mainstream assets on the top 100 list. RGT price – July 3 | Source: CoinMarketCap Notably, bitcoin (BTC) is seeing a meager 0.45% increase. This impressive…
U.S. SEC Approval of a Spot BTC ETF Is Likely: Bernstein
The lack of a bitcoin spot ETF leads to the growth of over-the-counter products like the Grayscale Bitcoin Trust (GBTC), which are more expensive, illiquid and inefficient, the broker said. Grayscale is owned by CoinDesk’s parent company, Digital Currency Group (DCG). Source
Robot guest-conducts the Korean National Symphony Orchestra
A robot graced the stage at the National Theatre of Korea to conduct the Korean National Symphony Orchestra on June 30, marking South Korea’s first robot-conductor public appearance. EveR 6, the android that co-conducted the performance titled “Absence,“ is a design produced by the Korea Institute of Industrial Technology (KITECH). The robot is equipped with a humanoid face and has a human-life form with a torso, two arms, a neck and a head. KITECH trained EveR 6 through “motion capture” technology via sensor attachments that digitally record a conductor’s baton…
Thai SEC bans the use of customer crypto assets for lending and investment
Thailand’s Securities and Exchange Commission (SEC) has issued new rules for digital asset service providers focused on investor protection. The new guidelines require digital asset service providers to offer adequate warnings highlighting risks associated with cryptocurrency trading. All platforms must display a message that reads: “Cryptocurrencies are high risk. Please study and understand the risks of cryptocurrencies thoroughly, because you may lose the entire investment amount.” The warning message must be clearly visible, and before customers can use the service, the business operator must arrange for the users to give consent…
Crypto Twitter has a persistent ‘fake followers’ problem, data reveals
Despite changes introduced by Twitter management since Elon Musk’s takeover, the issue around fake followers remains a persistent problem. As many as 10% of the followers of accounts belonging to crypto influencers and companies are fake, new data from dappGambl has revealed. In April 2023, Musk introduced Twitter Blue — an $8 monthly subscription for verification — to increase the platform’s revenue while making it financially inviable for bots and fake accounts to operate. However, months later, dappGambl’s investigation found that up to 10% of followers from the most followed crypto…
Belarus wants to ban P2P cryptocurrency transactions
The Belarusian foreign ministry is working on legal amendments to prohibit peer-to-peer, or P2P, transactions in cryptocurrencies like Bitcoin (BTC). The Ministry of Foreign Affairs (MFA) of the Republic of Belarus on July 2 issued an official announcement on Telegram about new legislation that would ban P2P crypto exchange for individuals. The authority cited a high cybercrime rate in Belarus, stating that local prosecutors have suppressed the activity of 27 citizens providing “illegal crypto exchange services” since the beginning of the year. Their total illegal revenues amounted to nearly 22…
Hut 8 relocates 6,400 rigs, sees growth in AI and high-performance computing
Hut 8 Mining is seeing new demand for artificial intelligence (AI) and high-performance computing as it looks to reenergize some 6,400 rigs being moved from its inactive North Bay site in Ontario, Canada. As previously reported, Hut 8 is in an ongoing legal battle with its third-party energy supplier Validus Power over alleged failure to meet contractual obligations. Operations at the mining facility have been suspended since November 2022. Hut 8 declined to comment on court case proceedings in correspondence with Cointelegraph, but it confirmed that 6,400 miners are being…
Singapore’s MAS Orders Crypto Firms to Safeguard Customer Assets in a Trust by Year-End
“This latest tightening of retail access to crypto should be no surprise to anyone following the Singapore market,” said Angela Ang, Senior Policy Advisor for blockchain intelligence firm TRM Labs and former MAS regulator. “MAS’ decision to hold back on certain proposals, such as requiring an independent custodian for customer assets, shows it’s listening to the industry and is sensitive to practical considerations such as a dearth of third-party custodians.” Source