Author: CryptoCurrencyNews

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Ripple Labs Inc., a prominent player in the cryptocurrency space, recently faced a substantial setback with a $125 million fine imposed by the U.S. Securities and Exchange Commission (SEC). This penalty was levied due to allegations that Ripple had conducted an unregistered securities offering by selling XRP tokens. The fine has significant implications for Ripple and the broader cryptocurrency industry.

The SEC’s decision came after a protracted legal battle, with the regulatory body arguing that XRP should be classified as a security, akin to stocks or bonds. Ripple, on the other hand, has consistently maintained that XRP is a currency and not subject to the same regulatory scrutiny. The settlement, however, suggests a partial acceptance of the SEC’s stance, which could have broader ramifications for other cryptocurrencies that operate in a similar legal grey area.

One immediate consequence of the settlement is Ripple’s commitment to enhance its compliance procedures. The company must now adhere to stricter regulatory guidelines, which could affect its operational flexibility. This is a significant shift for a company that has prided itself on pushing the boundaries of traditional financial systems with its innovative blockchain technology.

Furthermore, the fine has financial implications. While $125 million is a substantial amount, Ripple’s robust financial health means the company can absorb this cost without jeopardizing its operations. However, the fine could deter potential investors and partners, wary of future regulatory interventions. This might slow down Ripple’s ambitious expansion plans, particularly in markets where regulatory frameworks are still evolving.

The broader cryptocurrency market is also watching closely. The SEC’s action against Ripple could set a precedent for how other digital assets are regulated in the future. Cryptocurrencies like Ethereum and Bitcoin, which have thus far evaded similar scrutiny, might find themselves under the regulatory microscope. This could lead to a wave of compliance efforts across the industry, as companies seek to avoid Ripple’s fate.

Despite these challenges, Ripple remains optimistic about its future. The company is doubling down on its core mission of revolutionizing cross-border payments. Ripple’s technology enables faster, cheaper, and more secure international transactions, a value proposition that remains compelling despite regulatory headwinds. The company is also exploring new use cases for its blockchain technology, including decentralized finance (DeFi) and non-fungible tokens (NFTs).

Moreover, Ripple is actively engaging with regulators worldwide to shape a more favorable regulatory environment for cryptocurrencies. By participating in policy discussions and demonstrating a willingness to comply with regulations, Ripple aims to position itself as a leader in the digital finance space.

In conclusion, while the $125 million fine is a significant hurdle, it is not an insurmountable one for Ripple. The company’s financial strength, coupled with its commitment to innovation and regulatory compliance, positions it well for future growth. The broader cryptocurrency industry will also be keenly observing Ripple’s next steps, as they could herald a new era of regulatory clarity and innovation in the digital asset space.

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Marathon Digital Holdings (NASDAQ:MARA) has announced plans to raise $250 million through a convertible senior notes offering. The company intends to use the proceeds for acquiring more Bitcoin and general corporate purposes. This move comes as part of Marathon’s strategy to strengthen its position in the cryptocurrency mining industry.

The offering will consist of unsecured notes due in 2026, with an option for initial purchasers to buy an additional $37.5 million in notes. These notes will be convertible into Marathon’s common stock or cash, at Marathon’s discretion, providing flexibility for future financial maneuvers.

Marathon has been a significant player in the cryptocurrency mining sector, known for its aggressive accumulation of Bitcoin. As of the latest reports, the company holds approximately 8,133 Bitcoin, valued at over $350 million at current market prices. This new influx of capital will enable Marathon to purchase additional Bitcoin, further expanding its digital asset portfolio.

The decision to raise funds through convertible notes is seen as a strategic move to capitalize on the current market conditions. Convertible notes are appealing to investors because they offer the potential for equity upside while providing downside protection through the debt component. For Marathon, this approach reduces dilution risk compared to issuing new equity directly.

Fred Thiel, Marathon’s CEO, emphasized the company’s commitment to growing its Bitcoin holdings, stating that the additional capital will support their long-term vision of becoming one of the largest and most efficient Bitcoin miners globally. Thiel noted that the company’s strong balance sheet and strategic investments have positioned them well to take advantage of opportunities in the cryptocurrency market.

Market analysts have mixed reactions to Marathon’s capital raising efforts. Some view it as a prudent move to leverage the current favorable market conditions for Bitcoin, while others express concerns about the volatility of the cryptocurrency market and the risks associated with such a high concentration of assets in Bitcoin.

Despite these concerns, Marathon remains bullish on Bitcoin’s future. The company has been investing heavily in expanding its mining operations, including the purchase of thousands of new mining rigs. These investments are aimed at increasing the company’s hash rate, which is a critical metric in Bitcoin mining that measures the computational power used to process transactions and secure the network.

Additionally, Marathon’s focus on sustainability and energy efficiency has been a key part of its strategy. The company has been exploring partnerships with renewable energy providers to power its mining operations, aligning with broader industry trends towards greener and more sustainable practices.

As the cryptocurrency market continues to evolve, Marathon’s aggressive stance on Bitcoin accumulation and mining expansion positions it as a formidable player in the industry. The success of this capital raising initiative will likely have significant implications for the company’s future growth and its ability to navigate the dynamic landscape of digital assets.

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As we step into September, Bitcoin enthusiasts and investors are keenly observing several critical price levels. The $25,000 support level has been a significant marker for the cryptocurrency, offering a potential floor that could prevent further declines. If Bitcoin breaches this level, it may signal a bearish trend, potentially leading to more substantial losses.

On the upside, the $30,000 resistance level remains a crucial point to watch. Breaking through this level could indicate a bullish trend, encouraging more investors to enter the market. The market sentiment around these levels will largely be influenced by macroeconomic factors, including inflation rates and regulatory developments.

Moreover, the $28,000 price point serves as an intermediate level, offering insights into short-term market movements. Analysts suggest that maintaining stability around this level could provide a balanced outlook for Bitcoin, neither too bullish nor too bearish.

In recent months, Bitcoin has shown resilience, bouncing back from significant drops and reclaiming lost ground. This behavior highlights the cryptocurrency’s volatility but also its potential for substantial gains. Investors are advised to keep a close eye on these key levels as they navigate their investment strategies in the coming weeks.

Furthermore, the impact of global economic conditions cannot be understated. Factors such as interest rate changes by the Federal Reserve, geopolitical tensions, and technological advancements in the blockchain space could all play pivotal roles in Bitcoin’s price movements. Staying informed about these external influences is crucial for making well-informed investment decisions.

As always, it’s essential for investors to conduct thorough research and consider their risk tolerance before making any investment decisions. The cryptocurrency market is known for its rapid changes, and being prepared for various scenarios can help mitigate potential losses.

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The number of crypto millionaires has seen a remarkable surge in 2024, reaching unprecedented levels. This increase can be attributed to the significant rise in cryptocurrency values over the past year. Bitcoin, Ethereum, and other major cryptocurrencies have experienced substantial gains, leading to a significant increase in the number of individuals whose crypto holdings are now worth millions.

The boom in the crypto market has been driven by several factors. Institutional investment has played a crucial role, with major financial institutions and corporations allocating significant resources to cryptocurrency investments. For example, Tesla (NASDAQ:TSLA) made headlines with its substantial Bitcoin purchase, which not only boosted the company’s portfolio but also validated the cryptocurrency’s potential as a mainstream investment.

Additionally, the advancements in blockchain technology have contributed to the growing interest in cryptocurrencies. Innovations such as decentralized finance (DeFi) and non-fungible tokens (NFTs) have opened new avenues for investment and wealth creation. These developments have attracted a diverse range of investors, from tech-savvy millennials to seasoned financial experts.

Another factor contributing to the rise in crypto millionaires is the increasing acceptance and adoption of cryptocurrencies as a legitimate form of payment. Major companies like PayPal and Square have integrated cryptocurrency payments into their platforms, making it easier for consumers to buy, hold, and spend digital currencies. This increased accessibility has led to a broader demographic participating in the crypto market.

Moreover, regulatory clarity has played a significant role in boosting investor confidence. Governments and regulatory bodies in various countries have started to establish clear guidelines for cryptocurrency transactions and investments. This has reduced the uncertainty and perceived risk associated with crypto investments, encouraging more individuals to enter the market.

The demographic profile of crypto millionaires is also noteworthy. Many of the new crypto millionaires are younger investors who have capitalized on the early adoption of cryptocurrencies. These individuals often have a deep understanding of technology and finance, allowing them to navigate the volatile market effectively. Their success stories have inspired a new generation of investors to explore the potential of digital currencies.

However, the rapid rise in crypto wealth has not been without its challenges. The volatile nature of the cryptocurrency market means that fortunes can change quickly. While some investors have seen tremendous gains, others have faced significant losses. It is essential for investors to approach the crypto market with caution and conduct thorough research before making any investment decisions.

Looking ahead, the future of cryptocurrencies appears promising. As blockchain technology continues to evolve and more use cases for digital currencies emerge, the potential for wealth creation remains substantial. However, investors must remain vigilant and stay informed about market trends and regulatory developments to capitalize on these opportunities.

In conclusion, the surge in the number of crypto millionaires in 2024 highlights the transformative impact of cryptocurrencies on the global financial landscape. With the right strategies and a keen understanding of market dynamics, investors can potentially achieve significant wealth through cryptocurrency investments. As the market continues to grow and mature, it is likely that we will see even more individuals joining the ranks of crypto millionaires in the coming years.

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Bitcoin, the pioneering cryptocurrency, has always been a focal point for investors and analysts alike. As the market evolves, keeping an eye on specific price levels becomes essential for making informed decisions. In recent times, Bitcoin has been experiencing significant fluctuations, prompting investors to seek safe havens and reconsider their positions in risk-on assets.

One of the critical price levels to monitor is $30,000. This level has historically shown strong support and resistance, making it a psychological barrier for investors. Breaching this level could indicate a potential shift in market sentiment. Another important level is $40,000, which has been a resistance point during the recent rallies. Breaking through this level might signal a renewed bullish trend.

As traditional financial markets face uncertainties, Bitcoin’s correlation with these markets also plays a crucial role. For instance, when the stock market experiences volatility, Bitcoin often reacts in tandem, reflecting investors’ risk appetite. Additionally, macroeconomic factors such as inflation rates and monetary policies influence Bitcoin’s price movements.

Technical analysis further aids in understanding Bitcoin’s price trajectory. Moving averages, particularly the 50-day and 200-day moving averages, provide insights into potential support and resistance levels. When Bitcoin’s price crosses above these moving averages, it often indicates a bullish trend, while crossing below suggests a bearish outlook.

Moreover, the role of institutional investors cannot be overlooked. Companies like MicroStrategy (NASDAQ:MSTR) have made substantial investments in Bitcoin, impacting its price dynamics. Institutional interest often leads to increased market stability and higher price floors.

In conclusion, monitoring key Bitcoin price levels is crucial for navigating the volatile crypto market. By understanding the interplay between psychological barriers, technical indicators, and macroeconomic factors, investors can better position themselves to capitalize on market movements.

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VICTORIA, Seychelles, Sept. 14, 2024 /PRNewswire/ — In a prompt response to the devastating impact of Typhoon Yagi in Northern Vietnam, KuCoin is committed to airdropping up to 10,000 KCS to support the communities affected by the disaster. This donation is designed to provide immediate aid and support the recovery efforts of those impacted.

KuCoin will use backend access logs to identify users in the affected regions. Vietnamese KYC3/KYB users who engaged in trading on the KuCoin platform between August 1, 2024, 00:00 (UTC+8) and September 12, 2024, 23:59 (UTC+8), will be eligible to receive this compassionate donation. Each eligible user will have an equivalent of US$20 in KCS airdropped into their KuCoin accounts starting from September 18, 2024.

This philanthropic effort underscores KuCoin’s commitment to delivering timely assistance. The initial distribution is set to begin shortly, ensuring that aid reaches those in need without delay. In KuCoin’s announcement stated, “Our thoughts and concerns are with the people of Vietnam during this challenging time. Through our donation, we aim to provide relief and stand in solidarity with the communities as they rebuild and recover.”

This initiative is part of KuCoin’s ongoing commitment to support global communities in times of crisis. More detailed information regarding this humanitarian aid can be found in KuCoin’s official announcement.

KuCoin encourages the global community to come together to support the recovery efforts and thanks its users and partners for their continued trust and support.

About KuCoin

Launched in September 2017, KuCoin is a leading cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community engagement. It offers over 900 digital assets across Spot trading, Margin trading, P2P Fiat trading, Futures trading, and Staking to its 34 million users in more than 200 countries and regions. KuCoin ranks as one of the top 5 crypto exchanges. KuCoin was acclaimed as “One of the Best Crypto Apps & Exchanges of June & September 2024” by Forbes Advisor and has been included as one of the top 50 companies in the “2023 & 2024 Hurun Global Unicorn List”. Learn more at https://www.kucoin.com/.

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• DeFi Technologies’ subsidiary Reflexivity Research announces its inaugural Crypto Investor Day, set for October 25th, 2024, in New York City.
  
• The event is expected to bring together nearly 1,000 industry leaders and top minds from both crypto and traditional finance, including speakers from VanEck, Nelson Mullins, Tether, Ripple Labs, Fidelity Digital Assets, White & Case, Sei, Lekker Capital, and more.
  
• Crypto Investor Day will be moderated by Anthony Pompliano and is supported by prominent sponsors, including Coinbase, Ledger, Grayscale, Near, 3iQ, Ripple, Blockware, B2C2, Copper, Nelson Mullins, Liquid Mercury, and more.

TORONTO, Sept. 13, 2024 /PRNewswire/ – DeFi Technologies Inc. (the “Company” or “DeFi Technologies“) (CBOE CA: DEFI) (GR: R9B) (OTC: DEFTF), a financial technology company that pioneers the convergence of traditional capital markets with the world of decentralised finance (“DeFi“), is pleased to announce its subsidiary, Reflexivity Research LLC (“Reflexivity Research“), a leading crypto research firm, has announced its inaugural Crypto Investor Day, set to take place in New York City on October 25th, 2024.

Reflexivity Research’s Crypto Investor Day is expected to attract up to 1,000 industry leaders, investors, and entrepreneurs to midtown Manhattan this fall. The event will feature a full day of fireside chats with prominent figures from both the crypto and traditional finance sectors. The event will be moderated by Anthony Pompliano, Co-Founder of Reflexivity Research, who is known for his extensive work both building and investing at the intersection of finance, technology, entrepreneurship, and economics.

The event will feature an impressive lineup of speakers, including Jan van Eck (CEO of VanEck), Paolo Ardoino (CEO at Tether), Chris Kuiper (Director of Research at Fidelity Digital Assets), Ladan Stewart (Partner at White & Case), Quinn Thompson (Founder and CIO of Lekker Capital), Richard B. Levin (Chair – FinTech and Regulation Practice at Nelson Mullins), Brad Garlinghouse (CEO of Ripple Labs), Austin Federa (Head of Strategy at Solana), Jay Jog (Co-founder at Sei Labs), and several more. Tickets and a full list of speakers can be found at: https://lu.ma/cryptoinvestorday24

The event is supported by a host of esteemed sponsors and partners, including Coinbase, Ledger, Grayscale, Blockware, Near, 3iQ, Ripple, B2C2, Copper, Nelson Mullins, Liquid Mercury, Token Relations, and more.

“We’re thrilled to launch Crypto Investor Day, an event that will highlight the convergence of traditional finance and the digital asset space,” said Anthony Pompliano, Co-Founder of Reflexivity Research. “Our mission is to bridge the knowledge gap between these two worlds, maximizing our insights-per-minute KPI through some of the top minds in the industry.”

Olivier Roussy Newton, CEO of DeFi Technologies, added, “This event represents a great milestone for Reflexivity Research, as it builds off its successful Bitcoin Investor Day event earlier this year and continues to complement the growth seen in its research business. We’re excited to create a platform where leaders from both traditional and digital finance can collaborate and share ideas.”

For tickets and more information, please visit https://lu.ma/cryptoinvestorday24

About Reflexivity Research
Reflexivity Research LLC is a leading research firm specializing in the creation of high-quality, in-depth research reports for the bitcoin and digital asset industry, empowering investors with valuable insights. Reflexivity is a wholly owned subsidiary of DeFi Technologies Inc. For more information please visit https://www.reflexivityresearch.com/ 

About DeFi Technologies
DeFi Technologies Inc. (CBOE CA: DEFI) (GR: R9B) (OTC: DEFTF) is a financial technology company that pioneers the convergence of traditional capital markets with the world of decentralized finance (DeFi). With a dedicated focus on industry-leading Web3 technologies, DeFi Technologies aims to provide widespread investor access to the future of finance. Backed by an esteemed team of experts with extensive experience in financial markets and digital assets, we are committed to revolutionising the way individuals and institutions interact with the evolving financial ecosystem. Follow DeFi Technologies on Linkedin and Twitter, and for more details, visit https://defi.tech/ 

About Valour
Valour Inc. and Valour Digital Securities Limited (together, “Valour“) issues exchange traded products (“ETPs”) that enable retail and institutional investors to access digital assets in a simple and secure way via their traditional bank account. Valour is part of the asset management business line of DeFi Technologies Inc. (CBOE CA: DEFI) (GR: R9B) (OTC: DEFTF).

In addition to their novel physical backed digital asset platform, which includes 1Valour Bitcoin Physical Carbon Neutral ETP, 1Valour Ethereum Physical Staking, and 1Valour Internet Computer Physical Staking, Valour offers fully hedged digital asset ETPs with low to zero management fees, with product listings across European exchanges, banks and broker platforms. Valour’s existing product range includes Valour Uniswap (UNI), Cardano (ADA), Polkadot (DOT), Solana (SOL), Avalanche (AVAX), Cosmos (ATOM), Binance (BNB), Ripple (XRP), Toncoin (TON), Internet Computer (ICP), Chainlink (LINK) Enjin (ENJ), Valour Bitcoin Staking (BTC), Bitcoin Carbon Neutral (BTCN), Valour Digital Asset Basket 10 (VDAB10) and 1Valour STOXX Bitcoin Suisse Digital Asset Blue Chip ETPs with low management fees. Valour’s flagship products are Bitcoin Zero and Ethereum Zero, the first fully hedged, passive investment products with Bitcoin (BTC) and Ethereum (ETH) as underlyings which are completely fee free. For more information about Valour, to subscribe, or to receive updates, visit valour.com

Cautionary note regarding forward-looking information:

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to the Crypto Investor Day held by Reflexivity Research; the regulatory environment with respect to the growth and adoption of decentralized finance; the pursuit by DeFi Technologies and its subsidiaries of business opportunities; and the merits or potential returns of any such opportunities. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, but is not limited the acceptance of Valour exchange traded products by exchanges; growth and development of DeFi and digital asset sector; rules and regulations with respect to DeFi and digital asset; general business, economic, competitive, political and social uncertainties. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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SOURCE DeFi Technologies Inc.

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SINGAPORE, Sept. 12, 2024 /PRNewswire/ — Alchemy Pay, the world-leading fiat-crypto payment gateway, has announced its official support for the BNB ecosystem. With this support, Alchemy Pay’s On & Off- Ramp now supports popular tokens on BNB Chain, including its native token BNB and stablecoins like USDC and USDT. This integration highlights Alchemy Pay’s expanded support for the BNB ecosystem, facilitating seamless fiat-crypto transactions for users.

By leveraging Alchemy Pay’s extensive network, which spans over 300 fiat payment channels across 173 countries with 50+ fiat currencies supported, including traditional payment methods like Visa and Mastercard, local mobile wallets and domestic bank transfers, users worldwide can effortlessly purchase and sell mentioned tokens on BNB Chain using their preferred payment methods, significantly enhancing the accessibility and reach of the BNB Chain.

BNB Chain is a leading blockchain ecosystem designed to support the growing demands of Web3. Offering a unique combination of speed, scalability, and affordability, BNB Chain has become a popular choice for developers building DApps and for users seeking to participate in the world of DeFi.

Through Alchemy Pay’s support, popular tokens on BNB Chain extend their global reach and strengthen BNB Chain’s position in the cryptocurrency market. By integrating with a globally recognized fiat-crypto payment gateway, these tokens gain increased visibility and ease of use, making them more attractive to both new and existing users. This integration further underscores Alchemy Pay’s commitment to advancing the adoption of digital currencies, lowering entry barriers for global users, making cryptocurrency more accessible to a broader audience and actively contributing to the growth of the emerging crypto market.

This further solidifies Alchemy Pay’s position as a pioneer in seamless crypto adoption. Building upon collaborations with leading networks and platforms like Polygon, TON, Arbitrum, ICP, Linea, Celo, Neo, Binance Pay, OKX, Bitget, and Lido, this latest alliance marks a pivotal step in Alchemy Pay’s mission to bridge the divide between fiat and crypto, paving the way for a more inclusive and accessible financial future.

About BNB Chain

BNB Chain is a community-driven blockchain ecosystem that is removing barriers to Web3 adoption. It is composed of:

• BNB Smart Chain (BSC): A secure DeFi hub with the lowest gas fees of any EVM-compatible L1; serves as the ecosystem’s governance chain.
• opBNB: A scalability L2 that delivers some of the lowest gas fees of any L2 and rapid processing speeds.
• BNB Greenfield: Meets decentralized storage needs for the ecosystem and lets users establish their own data marketplaces.

Setting a high bar for security, the AvengerDAO community protects BNB Chain users while Red Alarm provides a real-time risk-scanner for Dapps. The ecosystem also offers a range of monetary and ecosystem rewards as part of its Builder Support Program.

For more, follow BNB Chain on X or start exploring via our Dapp library.

About Alchemy Pay

Founded in Singapore in 2017, Alchemy Pay is a payment gateway that seamlessly connects crypto with traditional fiat currencies for businesses, developers, and end users. With its offerings including On & Off Ramp, Crypto Card, Web3 Digital Bank, Crypto Payments and NFT Checkout, Alchemy Pay supports payments in 173 countries.

The Ramp is a one-stop solution to buy and sell crypto and fiat, easily integrated by platforms and dApps according to requirements. The Crypto Card solution empowers businesses and token issuers to provide users with branded virtual and physical cards for instant global spending. Additionally, our Web3 Digital Bank supports Web3 enterprises by providing multi-fiat accounts and instant fiat-crypto conversion capabilities. The crypto payment solution enables merchants to accept crypto payments globally, while allowing users to conveniently spend their crypto assets for everyday purchases. ACH is the Alchemy Pay network token on the Ethereum blockchain.

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SOURCE Alchemy Pay

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SEOUL, South Korea, Sept. 12, 2024 /PRNewswire/ — HYBE announced today that its subsidiary BINARY KOREA (hereafter “BINARY”) has signed a memorandum of understanding (MOU) with Coinbase, the world’s most reputable cryptocurrency company, to work together on developing BINARY’s Onchain Engagement Protocol that aims to revolutionize the creator economy through blockchain technology.

BINARY, HYBE’s arm dedicated to prioritizing Web3 user experience in building a new entertainment ecosystem, is partnering with Coinbase to launch the Onchain Engagement Protocol, an innovative creator enablement platform that harnesses the power of AI and blockchain technology. This technology will help connect creators with resources needed to help facilitate payments between fans and creators. Set to launch in 2025, this platform will be integrated into BINARY’s creator fandom platform, THEUS, enhancing the overall experience for creators and their fans.

By utilizing the Coinbase Developer Platform and Base blockchain, this initiative aims to equip creators with essential tools for secure exchanges of rewards, donations, and incentives, fostering deeper connections within their communities. The Onchain Engagement Protocol highlights BINARY’s commitment to revolutionizing the creator economy and building a dynamic new entertainment ecosystem that empowers creators and enriches fan engagement.

Anticipated features of the Onchain Engagement Protocol include:

• AI-Powered Influencer Discovery: Advanced models to identify emerging influencers and connect them with supporters.
• Autonomous Engagement Management: AI agents that manage fan interactions and automate the distribution of digital rewards.
• Integrated Token Economy: An intuitive system for easy donations between fans and creators, integrated with Coinbase wallets on the Base blockchain.

Sungmin Kim, CEO of BINARY, stated, “We have always been committed to fostering a more meaningful and enjoyable creator economy tailored to the needs of an IP-centric landscape, going beyond the traditional business model. In partnership with Coinbase, we believe that the new Onchain Engagement Protocol will significantly enhance engagement between creators and fans by promoting active user participation within THEUS and other communities to be involved.”

“We are truly excited to partner with BINARY on this innovative platform,” said Dan Kim, VP of Business Development at Coinbase. “The Onchain Engagement Protocol empowers creators to deepen their connections with fans and get paid directly for their work, aligning with our mission of increasing economic freedom in the world. By leveraging blockchain and AI technology, we aim to provide creators with the tools they need to build engaged communities and support the future of creative expression.”

As part of this partnership, BINARY will leverage tools provided by the Coinbase Developer Platform that will help creators easily accept donations onchain and build onchain functionality into their platforms. These tools include access to Coinbase Wallet, with transactions powered by the Base network, allowing for faster and cheaper payments that alleviate costs for fans and influencers.

Meanwhile, BINARY’s creator platform THEUS, which launched earlier this year, has already surpassed 50,000 user signups and features an impressive roster of over 35 creators including Dotty, SISTERYELL, and Cheezefilm.

About HYBE
HYBE Corp. (HYBE), rebranded from Big Hit Entertainment in March 2021, is a global entertainment lifestyle platform company that seeks boundless expansion in order to innovate the music industry. Ever since, HYBE has been expanding its multi-label system including BIGHIT MUSIC, BELIFT LAB, SOURCE MUSIC, PLEDIS Entertainment, KOZ ENTERTAINMENT, ADOR, HYBE LABELS JAPAN, NAECO, while HYBE AMERICA also manages its affiliate labels including Big Machine Label Group and Quality Control. In addition to the music business, HYBE established an integrated structure with its tech-driven future growth initiatives that creates concert, video content, game, original story and retail, as well as a platform business through Weverse, a global superfan platform. Composed of its global offices based in Korea, Japan, the US, and Mexico, the company works towards bringing innovative change throughout the global music industry.

About BINARY KOREA
BINARY KOREA is a subsidiary of HYBE that provides new services through the integration of entertainment and technology, aiming to enhance user experience. The company introduced South Korea’s first creator-fandom platform, THEUS, which expands the boundaries for creators while also encouraging meaningful communication between creators and fans under its company slogan, ‘CREATOR AND FAN, WE BECOME ONE.’

Media Inquiries
HYBE
Global Corporate Communications: globalcpr@hybecorp.com

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SOURCE HYBE

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