Category: Cryptocurrency

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HONG KONG, Oct. 13, 2024 /PRNewswire/ — iSHANG Technology Limited (“iSHANG”), a leading technology company specializing in Web3 enterprise solutions, is delighted to announce its collaboration with 3Business, the corporate brand of Hutchison Telecommunications (Hong Kong) Limited, under the Cyberport Web3 Proof-of-Concept Subsidy Scheme to implement the Web3 Coupon Enterprise Solution (Web3-Coupon) leveraging 5G.  This new collaboration represents a major leap forward in enhancing customer engagement and rewards. For more information, please visit – https://ishang.com/web3-coupon-enterprise-solution/

The Web3 Coupon Enterprise solution enables customers to earn unique high-valuable rewards through the Web3 Coupon platform. By introducing personalized, exclusive rewards, it has the potential to transform customer acquisition and reward programs.

The solution will also add a new dimension to 3Business current mobile advertising services for enterprises by revolutionizing the way businesses manage customer engagement and loyalty campaigns. Leveraging Web3 technologies, the solution can ensure secure and traceable transactions, instilling trust and confidence in customers.  

By integrating 5G, artificial intelligence (AI), blockchain technologies and smart contracts, iSHANG Web3-Coupon provides an innovative, secure and transparent platform to simplify coupon management processes such as creation, distribution, redemption and tracking. This streamlines operations and enhances overall efficiency. It addresses the limitations of traditional mass promotion messages by offering a comprehensive solution for merchants to manage and analyze promotion results, conversion rates, and customer consumption data.

The transparency and immutability of the Web3 Coupon System, powered by blockchain technology, establish a trustworthy environment for customers. They can easily verify the authenticity and validity of coupons.

“Web3 seeks to transform various aspects of our digital lives, including how businesses incentivize and reward customers,” said Samson Lee, Co-founder and CEO of iSHANG. “We are thrilled to collaborate with 3Business in implementing the Web3-Coupon. This collaboration represents a significant step towards revolutionizing the customer incentives and loyalty programs. Leveraging the power of Web3 technologies, 5G and the support from the Cyberport Web3 Proof-of-Concept Subsidy Scheme, the solution will provide business customers with a secure, transparent, and efficient coupon system that drives customer engagement and enhances their overall experience.”

The Cyberport Web3 Proof-of-Concept Subsidy Scheme plays a vital role in fostering innovation and adoption of Web3 technologies across various industries. By providing financial support, the scheme empowers businesses to explore the potential of emerging technologies and accelerate the commercial adoption of Web3 in different industry sectors.

Blockchain technology ensures the transparency and security of commercial transactions and enhances the trust of merchants and consumers. Web3-Coupon revolutionizes traditional coupons by introducing an element of uniqueness and exclusivity. The model shifts from general points accumulation to earning unique digital assets, potentially transforming customer loyalty. It adds a layer of personalization and value, enhancing customer engagement and fostering a deeper connection with the brand. Web3-Coupon represents a major leap forward in customer engagement and loyalty programs, providing customers with a more dynamic, engaging and rewarding experience.

About iSHANG Technology Limited (iSHANG)

iSHANG operates a “Web3-as-a-Service” (W3aaS) platform that provides the infrastructure and a gateway for brands & enterprises to enter into the Web3 market. iSHANG W3aaS platform developed 10 x Web3 Solutions that are built on Ethereum and Polygon blockchain using IPFS (Inter Planetary Filing System) decentralized storage system. In addition, iSHANG provides Campaign Driven Launchpad & Marketplace, designed for brands & enterprises to launch their web3 marketing campaigns & facilitates the promotion, customer acquisition, retention programs and also secondary exchange of NFTs. Ultimately, iSHANG also offers one-stop consulting campaign management which develop tailor-made Web3 marketing campaigns empowering brands and enterprises to transform their businesses in various use-cases to capitalize new market opportunities.

For more information about iSHANG, please visit – https://ishang.com/

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SOURCE iSHANG

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SINGAPORE, Oct. 10, 2024 /CNW/ — Worldwide Stablecoin Payment Network (WSPN), a leading provider of next-generation stablecoin infrastructure, and dtcpay, a leading regulated digital payment platform, are making history with a strategic partnership that will revolutionize access to stablecoins. For the first time ever, users will have the ability to on-ramp WUSD, a fiat-collateralized stablecoin pegged 1:1 to the US dollar, through dtcpay with zero fees, marking a paradigm shift in the accessibility and affordability of digital assets.

This groundbreaking move marks a new era for stablecoins, breaking down barriers to entry and empowering individuals and businesses worldwide. Now, with a more inclusive and cost-effective way to utilize stablecoin solutions, WSPN and dtcpay are making WUSD a truly borderless and accessible digital currency. By eliminating fees, the partnership will save users significant amounts annually in transaction fees. WUSD will be gradually rolled out to the many merchants supported by dtcpay, including high-end establishments such as 35A Scotts Whisky Club and Capella Hotel Group’s flagship properties, Capella Singapore and Patina Maldives, Fari Islands. This practical implementation demonstrates the immediate impact and versatility of WUSD in everyday transactions, from luxury experiences to hospitality services.

“This zero-fee WUSD on-ramp with dtcpay is a game-changer for Stablecoin 2.0,” said Raymond Yuan, Founder & CEO of WSPN. “This partnership embodies our vision of making digital assets truly accessible to all, accelerating the adoption of stablecoins in the world. WSPN is proud to lead this financial revolution, reshaping the future of borderless transactions.”

“Partnering with WSPN to offer a zero-fee on-ramp for WUSD is a monumental step in making digital assets more accessible and affordable for dtcpay’s users. At dtcpay, we are excited to lead this charge toward a more i­nclusive financial future, breaking down barriers and creating new opportunities”,  said Anson Zeall, Chief Strategy Officer & Head of Compliance, dtcpay.

By eliminating fees for on-ramping WUSD, WSPN and dtcpay are democratizing access to stablecoins, fostering greater adoption and paving the way for a more efficient, transparent, and equitable financial system globally.

About WSPN

WSPN is a leading provider of next-generation stablecoin infrastructure, committed to building a more secure, efficient, and transparent payment solution for the global economy. Their flagship product, WUSD stablecoin, is pegged 1:1 to the U.S. Dollar and aims to optimize secure and licensed digital payments for Web3 users. WSPN ‘s Stablecoin 2.0 approach prioritizes user-centricity, community governance, and accessibility, paving the way for widespread stablecoin adoption.

Learn more: www.wspn.io | X | LinkedIn

About dtcpay

dtcpay is a regulated Major Payment Institution (MPI) licensed by the Monetary Authority of Singapore (MAS) to conduct Digital Payment Token (DPT) services and other payment services under the Payment Services Act (PSA).

As a leading provider of digital payment solutions, we pioneer the integration of cryptocurrency acceptance into traditional financial systems. With a vision to make global transactions seamless and sustainable, dtcpay empowers individuals and businesses to embrace the future of payments. 
Learn more at dtcpay.com.

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SOURCE WSPN

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DUBAI, UAE, Oct. 11, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, in collaboration with Blocks Scholes, is excited to unveil its latest crypto derivatives report. This insightful report explores the market’s response to recent price fluctuations and the backdrop of the upcoming U.S. election.

Key Insights:

Decline in BTC Options Implied Volatility: Surprisingly, implied volatility for Bitcoin (BTC) options has dropped, despite the looming U.S. election. Traditionally, market uncertainty would lead to increased volatility ahead of major events, like the much-anticipated BTC Spot ETF launch, making this a noteworthy deviation.

Surge in Call Option Volumes: BTC call option trading volumes have surged significantly in recent weeks, potentially signaling a shift towards a bullish market sentiment.

Muted Futures Activity: While futures trading saw positive momentum with early October’s market volatility, open interest has remained relatively subdued compared to pre-September expiration levels.

Spike in BTC Perpetual Swap Volumes: Open interest in BTC perpetual swaps remained stable; however, trading volumes surged in response to early October’s volatility spike, marking an important market movement.

Cautious Sentiment in ETH Options: Ethereum (ETH) options also saw a decline in implied volatility. Put option volumes have surpassed call volumes over the past week, suggesting traders are taking a more cautious stance regarding ETH‘s future price movements.

Access the Full Report:

Gain deeper insights and explore the potential impacts on your crypto trading strategies by downloading the full report here: https://learn.bybit.com/crypto-insight/bybit-x-block-scholes-crypto-derivatives-analytics-report-oct-9-2024/

#Bybit / #TheCryptoArk /#BybitResearch

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: media@bybit.com
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media

Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

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SOURCE Bybit

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The First Trading Arena Where 1,149 Traders Put Real Cash on the Line

SINGAPORE, Oct. 10, 2024 /PRNewswire/ — The Alpha Trading Cup 2024 is a high-stakes, live trading competition in which traders worldwide showcase their skills and dominate the financial markets. Hosted by Next Level Academy, Ascension Profits, and Monaxa, the event runs from August 15 to September 30, 2024.

This competition brings together top traders who compete in various asset classes, including crypto, forex, precious metals, indices, and stocks. With a prize pool of USD 44,000, participants also gain the unique opportunity to learn from seasoned professionals, test their strategies in real time, and potentially secure positions with hedge funds scouting for fresh talent.

“The purpose of the Alpha Trading Cup (ATC) is to discover the best traders and foster a culture of learning and collaboration,” says Sean Seah, Founder of Next Level Academy. “Our goal is to build a tribe of successful traders who are eager to share their knowledge and learn from one another. Throughout the competition, I’ve seen traders step up to share valuable lessons, strategies, and even their mistakes, while others have supported and guided newer participants. Together, we’ve helped over 1,000 traders progress, creating a thriving, supportive community.”

Over 1,149 traders from 22 countries have not only risked real money but also benefited from training by over a dozen world-class experts in diverse trading techniques, including algorithmic charting, crypto, forex, hedge fund strategies, and options. This is the first trading competition that combines high-stakes practical implementation with comprehensive education.

“While emotions may sway others, the quant trader focuses on data. The patterns are always there if you know how to find them, and that’s where the real opportunities lie,” says Alison Gan, AI Quant Trader at Next Level Academy.

Eric Ong, a Private Hedge Fund Advisor, adds, “The Alpha Trading Cup has enriched the trading community by fostering innovation, skill development, and collaboration. It provides a dynamic platform for traders of all levels to exchange knowledge and showcase their talents, driving the industry forward. The competition reinforces our commitment to integrity and sustainability by emphasizing ethical and responsible trading practices. As we celebrate this year’s participants, we recognize how the Alpha Trading Cup strengthens the entire trading ecosystem, creating a more informed, engaged, and resilient community. Together, we are shaping the future of trading.”

“When the Alpha Trading Cup (ATC) was first conceived, the idea was to create an enriching and informative environment for people from all walks of life to be able to learn and immerse themselves in the journey towards creating income in the financial markets. All too often, many people have the pre-conceived notion that being able to create income in the financial markets is only for proficient traders. Through this ATC and its related sharing sessions and tools and services provided, I’ve seen not just experienced traders profit but also beginner and novice participants alike.There has been tremendous growth in the community in terms of knowledge, financial gains, and breakthroughs. I sincerely wish that the vibrant ATC community continues their journey towards financial betterment through what they’ve learned and experienced in this ATC,” says Terence Tan, founder of Ascension Profits.

In the Alpha Trading Cup, participants invest their own capital, applying live strategies such as algorithmic trading and quantitative modeling, rather than relying on virtual capital or demo accounts. This ensures that every trader leaves the competition with actionable, practical techniques that can help them achieve financial independence.

About Next Level Academy

Next Level Academy is a premier educational platform offering comprehensive training and mentorship for investors and traders.

Known for its hands-on approach and expert-led events, Next Level empowers individuals to achieve financial freedom and transform their lives through effective wealth-building strategies.

About Monaxa

Monaxa is a leading online trading platform that empowers traders of all levels to achieve financial success. Through its educational resources, hands-on training, and cutting-edge technology, Monaxa enables individuals to trade a wide variety of assets and make informed financial decisions.

About Ascension Profits:

Ascension Profits empowers individuals to achieve financial freedom through strategic passive income generation and wealth compounding. We serve a diverse clientele—from busy professionals to entrepreneurs and retirees—all seeking to maximize their financial potential without additional time investment. Our proven methods enable clients to build wealth efficiently, allowing them to prioritize what truly matters: family, passions, and life experiences. At Ascension Profits, we don’t just build wealth; we pave the way for lives well-lived.

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SOURCE Next Level Academy

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The U.S. Securities and Exchange Commission (SEC) has taken significant steps to combat crypto market manipulation, an issue that has plagued the digital asset space for years. In a recent wave of enforcement actions, the SEC filed civil fraud charges against nine individuals and three companies accused of using market manipulation schemes to artificially inflate the value and trading volume of various cryptoassets. These cases highlight the ongoing challenges of regulating a nascent industry prone to exploitation

Crypto Market Manipulation: A Growing Concern

Crypto market manipulation has become a central concern for regulators as the digital asset market continues to evolve. The focus keyword, “crypto market manipulation,” has surfaced in numerous discussions as authorities attempt to curb illegal trading practices that deceive retail investors. The SEC’s charges are centered on fraudulent tactics that created the illusion of a thriving market, leading to substantial financial losses for unsuspecting investors.

One notable method used in these schemes is “wash trading,” a practice where traders simultaneously buy and sell the same cryptoasset to generate fake trading volume. By creating the appearance of liquidity and demand, fraudsters can manipulate prices, making the asset more attractive to potential investors. Wash trading has been illegal in traditional financial markets for decades, and U.S. regulators are now applying these standards to cryptocurrency as well.

SEC Targets Crypto Manipulation-as-a-Service

According to the SEC, two companies—ZM Quant and Gotbit—offered “market-manipulation-as-a-service.” These firms provided services to artificially inflate the trading volumes or manipulate the prices of certain cryptoassets, all while duping retail investors. By fostering an illusion of activity, they drove up interest and investment in assets that otherwise had little to no value.

One of the cryptoassets targeted by these manipulators was actually created by the FBI as part of an investigation into fraudulent activity within the crypto market. The asset’s creation allowed authorities to track illegal transactions and gather evidence against those involved in the manipulation schemes. This operation marks the first of its kind and signals that regulators are becoming more sophisticated in their approach to cracking down on crypto market manipulation.

Criminal Charges in Parallel Cases

In addition to the SEC’s civil charges, the U.S. Attorney’s Office for the District of Massachusetts filed parallel criminal charges. Several individuals were accused of market manipulation and wash trading in the crypto sector. Four defendants, including a Canadian resident, have pleaded guilty, and three others have been arrested in Texas, the U.K., and Portugal.

More than $25 million in cryptocurrency has been seized during the investigation, and multiple trading bots responsible for millions of dollars in wash trades across 60 different cryptocurrencies have been deactivated. This operation has significantly disrupted the infrastructure of these manipulation schemes, marking a critical victory for U.S. authorities in their effort to regulate the crypto market.

Implications for the Crypto Industry

The SEC’s actions reflect the growing concern over crypto market manipulation and its potential to harm investors. While the technology behind cryptocurrency is innovative, it has also opened the door to age-old financial scams like pump-and-dump schemes, where promoters artificially drive up the price of an asset before selling off their holdings, leaving investors with significant losses.

“We remain concerned about the ease with which the market for a cryptoasset can be manipulated and are committed to rooting out instances of such misconduct when it involves securities,” said Jorge Tenreiro, acting chief of the SEC enforcement division’s cryptoasset and cyber unit.

The allegations have not been proven, but three individuals have agreed to settlements with the SEC, subject to court approval. These settlements include conduct-based injunctions to prevent further violations of securities laws. The court will later determine financial penalties and disgorgement in these cases.

The Road Ahead for Crypto Regulation

As the crypto market grows, so does the need for stronger regulatory frameworks to protect investors from fraud. The SEC and other U.S. authorities have made it clear that they will not tolerate market manipulation in any form, whether in traditional securities or digital assets.

This crackdown on crypto market manipulation represents a turning point in the ongoing effort to regulate the industry. Investors can expect increased scrutiny on crypto exchanges, token issuers, and other market participants as regulators work to ensure transparency and fairness in the market.

The SEC’s focus on crypto market manipulation signals a new chapter in cryptocurrency regulation, one where enforcement actions and technological innovations work hand in hand to safeguard investors and uphold the integrity of the financial system.

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Crypto.com has taken a bold step in its ongoing battle against the U.S. Securities and Exchange Commission (SEC) by filing a lawsuit challenging the agency’s regulatory stance on cryptocurrencies. The legal action comes in response to a Wells Notice issued to Crypto.com, signaling potential enforcement actions due to alleged securities law violations.

The Wells Notice, which serves as a formal warning, has sparked significant debate in the cryptocurrency industry. Crypto.com argues that the SEC’s approach to regulating digital assets is overly broad and stifles innovation. The company claims that the lack of clear guidelines has left crypto businesses in a state of uncertainty, hindering their ability to operate effectively.

The lawsuit filed by Crypto.com seeks to compel the SEC to provide more precise regulatory frameworks. The company emphasizes the importance of clarity in regulations to foster growth and protect investors. Crypto.com insists that without such clarity, the U.S. risks falling behind in the global race for blockchain and cryptocurrency innovation.

Crypto.com’s legal team is building its case on the premise that cryptocurrencies represent a fundamentally different asset class that requires tailored regulatory treatment. They argue that applying traditional securities laws to digital assets is not only inappropriate but also detrimental to the industry’s growth.

In its defense, the SEC maintains that its regulatory actions are necessary to protect investors from potential fraud and market manipulation. The agency argues that many cryptocurrencies function similarly to securities and should therefore be subject to the same regulatory scrutiny.

This legal confrontation could set a significant precedent for how cryptocurrencies are regulated in the United States. Industry experts are closely monitoring the case, as its outcome could influence future regulatory policies and the broader acceptance of digital currencies.

As Crypto.com continues its legal battle, other crypto companies are expressing solidarity, with some considering similar actions. The case highlights the ongoing tensions between regulatory authorities and the rapidly evolving cryptocurrency market.

Crypto.com, known for its user-friendly platform and innovative financial products, is determined to lead the charge for clearer regulations. The company believes that with the right legal framework, cryptocurrencies can thrive and provide immense value to both individual investors and the global financial system.

This lawsuit marks a pivotal moment for the cryptocurrency industry, as it seeks to balance regulatory compliance with the need for innovation and growth. The outcome of this case could redefine the future of digital assets in the U.S., setting a course for more defined and supportive regulatory environments.

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The ongoing battle between Ripple and the U.S. Securities and Exchange Commission (SEC) has taken another turn as the SEC filed an appeal against the recent court ruling that declared XRP not to be a security. This legal struggle has captured the attention of the crypto industry, as it holds significant implications for the regulatory landscape of digital assets.

Ripple, a prominent blockchain company, has been embroiled in a legal conflict with the SEC since December 2020. The crux of the dispute lies in whether XRP, Ripple’s native cryptocurrency, should be classified as a security. The initial ruling in July 2023 was a major victory for Ripple, as the court determined that XRP does not meet the criteria of a security, thereby exempting it from the stringent regulations that securities must adhere to.

However, the SEC’s decision to appeal this ruling underscores its firm stance on maintaining regulatory control over cryptocurrencies that it believes fall under its jurisdiction. The appeal process is expected to prolong the legal proceedings, causing further uncertainty in the crypto markets.

This case is pivotal for the broader cryptocurrency industry as it could set a precedent for how digital assets are classified and regulated in the United States. A ruling in favor of the SEC could lead to increased regulatory scrutiny over other cryptocurrencies, potentially impacting their market dynamics and prices.

Investors and crypto enthusiasts alike are closely monitoring the situation, aware that the outcome could influence the future of blockchain technology and its adoption across various sectors. The case also highlights the necessity for clear regulatory guidelines to promote innovation while safeguarding investor interests.

As the appeal process unfolds, Ripple remains optimistic. The company continues to argue that XRP functions primarily as a digital currency and not as an investment contract, a key characteristic of securities. Ripple’s legal team is preparing to counter the SEC’s arguments, emphasizing the importance of technological advancement and the need for regulatory frameworks that align with the evolving nature of digital assets.

Moreover, the crypto community is rallying behind Ripple, viewing the SEC’s actions as an overreach that could stifle innovation. Industry leaders are advocating for a balanced approach that fosters growth while ensuring compliance and consumer protection.

While the appeal is unlikely to be resolved quickly, its outcome will have lasting implications. The legal battle between Ripple and the SEC serves as a microcosm of the broader regulatory challenges facing the cryptocurrency industry. As stakeholders await the next developments, the case underscores the urgency for comprehensive regulatory clarity to guide the future of digital finance.

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