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Introduction
IO.NET is the world’s largest decentralized AI computing network that allows machine learning engineers to access scalable distributed clusters at a small fraction of the cost of comparable centralized services. io.net is uniquely capable of creating clusters of tens of thousands of GPUs, whether they are co-located or geo-distributed, while maintaining low latency for deployers.
The long holiday is over, and on the first day of work, I was overwhelmed by the rise of the A-share market next door, but there were still many major events that needed attention in the 7*24 encryption field during this week. BlockBeats sorted out the important news worth paying attention to during the holiday for readers as follows. HBO will release a documentary film that attempts to decipher the identity of Satoshi Nakamoto On October 4, documentary producer Cullen Hoback and HBO announced the upcoming documentary film "MoneyElectric: The Mystery of Bitcoin", which attempts to decipher the identity of Satoshi Nakamoto. "MoneyElectric: The Mystery of Bitcoin" will be broadcast on HBO on October 8. The film interviews people who claim to have been in close contact with the founder after the issuance of Bitcoin. It said that Satoshi Nakamoto may not be one person, but a group of people. However, the trailer does not provide enough information to reveal the identity of Satoshi Nakamoto. Related reading: "The biggest mystery in the currency circle will be revealed this week? Who is "Satoshi Nakamoto"? " The film is directed by Emmy nominee Cullen Hoback, director of "Q: Into the Storm". Currently, users on Polymarket believe that Len Sassaman will be the "Satoshi Nakamoto" revealed in this documentary. It is reported that Len Sassaman committed suicide in 2011 after struggling with depression. Because he has long published academic works on cryptography, which often show his firm ideological commitment to privacy and decentralization, some people think he is Satoshi Nakamoto. MOODENG on Ethereum has risen sharply, and meme donations for charity have become a new way of publicity On October 5, the market value of the Meme coin MOODENG on the Ethereum chain exceeded 11 million US dollars. The surge was caused by Ethereum co-founder Vitalik Buterin selling 11.76 billion MOODENGs through KyberSwap for 21.033 ETH (about 50,900 US dollars). On October 7, Vitalik's address sold 10 billion MOODENGs again for 308.69 ETH (762,000 US dollars) and transferred 260.16 ETH (642,000 US dollars) to the charity Kanro. Ethereum co-founder Vitalik Buterin posted on social media that "any tokens sent to me will be donated to charity (thanks to Moodeng, the 10 billion tokens received today will be donated to the prevention and treatment of airborne disease technology), but I would rather donate the tokens directly to charity, and maybe set up a DAO to allow the community to directly participate in decision-making and processes." Bybit launches global mainstream market index trading services On October 3, Bybit announced that in order to enhance the user's trading experience on MetaTrader 5 (MT5). From October 2, 2024, users will have access to index trading, thereby expanding opportunities in the global market. Users can access 17 major global market index CFDs, including FTSE China A50, Dow Jones, Nasdaq 100, and Nikkei 225. Through index trading, users can participate in the performance of major markets in the global economy. Indices such as FTSE China A50 and Nikkei 225 represent the situation in the Asian market, while Dow Jones and Nasdaq 100 reflect the economic dynamics of the US market. For investors who pay attention to global economic trends, this is an efficient way to gain global market exposure. Bybit's addition of index trading means that it is transforming from a pure cryptocurrency exchange to a more comprehensive investment platform, attracting more types of investors, especially those who are accustomed to the stock and foreign exchange markets, which will help enhance Bybit's market competitiveness. For traders, they can not only operate in the cryptocurrency field, but also get involved in the volatility of traditional markets, thereby enhancing risk management capabilities and creating more profit opportunities. It is reported that MetaTrader 5 is a popular online trading platform designed for foreign exchange, stock and delivery contract trading. It provides advanced functions, technical analysis tools and automatic trading functions, which is suitable for senior traders. BlockBeats Note: The full name of CFD is Contract for Difference. Through this form of trading, investors do not actually own the underlying assets, but take positions on the rise and fall of their prices. "Big Mouth Cat" POPCAT's market value hits a new high On October 7, Solana's on-chain Meme coin POPCAT broke through $1.46, with a market value of $1.42 billion, a record high. As of writing, POPCAT's market value is $1.21 billion, ranking seventh in the meme coin sector. On October 5, Andrew Kang, co-founder and partner of crypto venture capital firm Mechanism Capital, posted on social media, "It looks like @MustStopMurad's speech at Token2049 has catalyzed the next wave of capital reallocation into Meme coins. Popcat appears to be one of the beneficiaries of these capital flows and is now undergoing price discovery. The four major Meme coins that are preparing to join this cycle are BONK, WIF, PEPE and FLOKI." Musk all in Trump On October 5, the campaign team of former US President and Republican presidential candidate Trump said that Trump will return to Butler, Pennsylvania, on October 5 local time to hold another campaign rally. Since Trump suffered the first "attempted assassination" at a campaign rally in Butler on July 13, he has stated several times that he will return to Butler for another rally. On October 6, Trump and Musk returned to Butler, Pennsylvania, and held a campaign rally. The two spoke together, and multiple series of MEME tokens rose. Musk also posted "Make America Based Again" on the social platform. Musk updated the profile of his Twitter account to "Read @America to understand why I'm supporting Trump for President" and updated the profile link to the "American Political Action Committee" website. Among them, @America is a newly created account, which is the propaganda channel of the American Political Action Committee, aiming to support key values and leaders who fight for safe borders, reasonable spending, urban safety, and a fair judicial system. Other important news EIGEN hit $4.94 on Binance and then fell back, now quoted at $4.13 On October 1, according to market data, EigenLayer (EIGEN) hit a high of $4.94 on Binance and then fell back, now quoted at $4.13, with a trading volume of $21 million on Binance and a chain trading volume of $12.4 million. Coinbase includes io.net (IO) and Degen (DEGEN) in its listing roadmap On October 2, according to the official announcement, Coinbase included io.net (IO) and Degen (DEGEN) in its listing roadmap. Upbit will list Wormhole (W) won, BTC, USDT trading pairs On October 2, according to the official announcement, Upbit will list Wormhole (W) won, BTC, USDT markets, and is expected to be launched at 19:00 on October 2 (Korean time). Grayscale Launches Aave Trust On October 3, Rayhaneh Sharif-Askary, head of product and research at Grayscale, said in a statement: Grayscale has launched a new fund that provides investment in Aave's AAVE token. Sources: FTX is seeking to sell 22.3 million locked WLD at a significant discount On October 3, The Block quoted sources as saying that FTX is seeking to sell 22.3 million locked WLD at a discount, currently worth approximately US$37.7 million. The sale is part of the agency's ongoing efforts to recover funds for creditors. Visa launches tokenized asset platform VTAP On October 4, according to official news, Visa launched the Visa Tokenized Asset Platform (VTAP), which will help banks issue fiat-backed tokens. BBVA will use VTAP to create tokens on the public Ethereum blockchain, and a live pilot is expected in 2025. The VTAP solution is available on the Visa developer platform for participating financial institution partners to create and experiment with their own fiat-backed tokens in the VTAP sandbox. Bitwise to launch Bitcoin and Treasury rotation strategy ETF (BITC) On October 5, Bitwise is converting its three futures-based ETFs into a single ETF, and the conversion is expected to take place on December 3. Bitwise announced on Friday the launch of the Bitwise Trendwise Bitcoin and Treasury Rotation Strategy ETF (BITC), which combines the Bitwise Bitcoin Strategy Optm Roll ETF (BITC), the Bitwise Ethereum Strategy ETF (AETH) and the Bitwise Bitcoin and Eth Eq Wgh Str ETF (BTOP). IntoTheBlock: Ethereum mainnet fees hit a record low after Dencun upgrade, ETH turns to inflation On October 6, according to IntoTheBlock data, Ethereum mainnet fees hit a record low as L2 transactions surged after the Dencun upgrade. EIP-4844 cut L2 costs by 10 times, driving a record number of transactions. However, due to the reduction in the number of Ethereum destruction, ETH has turned from deflation to inflation. BGB rebounded to $1.2, and once plunged "halved" On October 7, according to Bitget market data, BGB rebounded to $1.2, and is now quoted at $1.1, with a 24-hour increase of 4.43%. Previously, BGB once plunged downward to $0.5344, and fell by more than 50% in a short period of time. Ethereum community launches new proposal EIP-7781, which aims to increase throughput by 50% On October 7, developers claimed that a new Ethereum Improvement Proposal (EIP) would reduce Ethereum’s block time by 33% and increase data capacity — thereby increasing overall throughput by 50%. Introduced on October 5 by Illyriad Games co-founder Ben Adams, EIP-7781 aims to reduce block times on the Ethereum network from the current 12 seconds to 8 seconds, increase rollup-based latency, and increase the capacity of blobs (a temporary data structure used to reduce fees on the Layer 2 network).
Important Crypto News You Might Have Missed During the National Day HolidayCardano’s Prism has transitioned into Hyperledger Identus, an open-source framework for decentralized identity applications. IO Engineering and community developers maintain Identus, which supports products like Midnight, RealFi, and Lace. Charles Hoskinson stresses that identity should enhance products, not turn users into a product themselves. Cardano founder Charles Hoskinson announced that Prism has become Hyperledger Identus , a decentralized identity framework. Hoskinson highlighted the importance of self-sovereign identity (SSI), where users control their own identity without being commodified by centralized entities. Hyperledger Identus is an open-source identity framework under the Apache2 license. Cardano’s research wing, IO Engineering, is developing this identity framework with community contributions. It forms the backbone for key Cardano products like Midnight, RealFi, and Lace, which use it for their identity needs. Hoskinson said identity should improve the user experience without turning individuals into the product. Hoskinson’s comment aligns with Cardano’s emphasis on decentralization. Frameworks like Identus are crucial for blockchain projects because they allow users to maintain control over their personal data, ensuring privacy without compromising product functionality. Hyperledger Identus Powers Midnight’s Testnet Launch Midnight , one of the products built on Cardano that leverages Hyperledger Identus, has launched its public testnet. Being a Cardano sidechain, Midnight combines data privacy along with blockchain transparency. It uses zero-knowledge cryptography to protect sensitive data while ensuring regulatory compliance. The sidechain, designed to address privacy concerns in decentralized applications (dApps), also ensures regulatory compliance through zero-knowledge cryptography. Combined with Hyperledger Identus, Midnight can play a crucial role in Cardano’s ecosystem, providing essential identity management services. Regarding the launch, Hoskinson praised the development team, encouraging the community to recognize their efforts. “It’s worth giving some love their way.” That said, Cardano’s focus on decentralized identity, powered by Hyperledger Identus, is a step toward reshaping how identity works in the digital age and creating secure and privacy-preserving decentralized applications. With products like Midnight and RealFi already utilizing this framework, the vision for self-sovereign identity is becoming a reality, ensuring that identity remains in the hands of users, not corporations. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
Cardano’s Prism Becomes Hyperledger Identus: A Decentralized Identity FrameworkDegen rose by more than 160% in 24 hours after Coinbase announced trading support for the Base token. io.net token will also list on Coinbase, but its price fell amid a crypto downturn on geopolitical events. Degen (DEGEN) rose sharply after US-based cryptocurrency exchange Coinbase announced it had added DEGEN to its listing roadmap. Per market data on CoinGecko, DEGEN skyrocketed from lows of $0.004 to near $0.012 after the news. In terms of 24-hour gains, the meme coin’s price spiked more than 160%, pushing the Degen token’s value to levels last seen in June this year. DEGEN to list on Coinbase Degen, a community token and blockchain for the decentralised social platform Farcaster, will be added to Coinbase for spot trading. GM Degens! Huge news—$DEGEN is getting listed on Coinbase Spot trading, becoming the 4th @base token. This journey’s been wild, and we’ve got plenty ahead. Big thanks to the Degen and Base fam for sticking with us. Let’s keep building! https://t.co/m9j1FcTYMs — Degen 🎩 (@degentokenbase) October 1, 2024 Coinbase unveiled its listing roadmap in July 2022, noting the move to be a way of ensuring transparency. The exchange also uses this to prevent front-running, with only assets Coinbase has decided to list now added to the roadmap. Degen launched as a reward token for the community on Farcaster. While its adoption as a meme coin helped create a strong user base, the project has increasingly attracted fresh interest amid rising developer activity and content creation. The DEGEN token currently trades on platforms such as OKX, Bybit, KuCoin and Gate.io among others. Its price has increased by more than 330% over the past 30 days. However, it remains significantly off its all-time high above $0.064 reached in March 2024. Degen (DEGEN) token price chart on CoinMarketCap Coinbase to also list io.net io.net (IO) is the other token that Coinbase has announced trading support for with its addition to the roadmap. However, while DEGEN rose sharply, IO traded lower alongside other cryptocurrencies amid the geopolitical uncertainty in the Middle East . The io.net is a decentralised AI computing platform built on Solana . While the IO price is down 14% in the past 24 hours, it’s largely bullish after rallying over the past month. Currently, its price is over 25% higher in the past 30 days, with most of the gains coming in late September after io.net announced a partnership with Phala Network . IO price hovered around $1.78.
DEGEN surges 160% after Coinbase adds token to listing roadmapAccording to BlockBeats, on October 2, according to Bitget market information, DEGEN is currently quoted at $0.007597, with a 24-hour increase of 76.68%. This morning, Coinbase announced that it would include io.net (IO) and Degen (DEGEN) in its listing roadmap.
Stimulated by the news of Coinbase listing, DEGEN increased by more than 76% in a single day1. Bitwise submitted an application for XRP ETF in Delaware; 2. The White House said Iran is preparing to attack Israel; 3. BlackRock completed the acquisition of Global Infrastructure Partners (GIP); 4. Hashdex submitted a revised S-1 application for the Nasdaq Crypto Index ETF; 5. The Nibiru Foundation launched Nibiru Ventures, an ecological project investment department; 6. Coinbase included io.net (IO) and Degen (DEGEN) in the coin listing roadmap.
Overview of important overnight developments on October 2Dubai, UAE, September 26th, 2024, Chainwire GPU cloud network io.net has announced a strategic partnership with Phala Network to advance secure computation and decentralized AI. The collaboration will see Phala extend the capabilities of decentralized AI by accessing GPU hardware via io.net’s cloud network, IO Cloud. The partnership will enhance Phala’s ability to support TEE (Trusted Execution Environment) CPU nodes, providing the infrastructure for computationally intensive dapps to flourish. Phala Network relies on Nvidia H100 and H200 GPUs to power its TEE technology. Its collaboration with io.net will ensure access to these essential GPUs that form the cornerstone of Phala’s decentralized AI ecosystem. In August, Phala released the first benchmark for TEE-enabled GPUs, setting a new standard for decentralized AI. By extending Trusted Execution Environments (TEEs) to include AI accelerators like GPUs, the collaboration with io.net ensures that sensitive AI workloads are securely processed with advanced cryptographic protections. Nvidia’s H100 Tensor Core GPUs, equipped with confidential computing features such as encrypted memory and secure boot, further enhance Phala’s security layer. The ability to access Nvidia H100 and H200 GPUs IO Cloud will enable Phala to offer the computational power required for training and running large AI models such as LLaMA 3 and Microsoft Phi. Since launching its mainnet in 2021, Phala Network has built a robust infrastructure of over 40,000 TEE CPU nodes, enabling web3 developers to offload complex computations from smart contracts to Phala’s secure, off-chain network. These nodes play a pivotal role in maintaining data privacy and security while delivering verifiable proofs and oracles, supporting a wide range of web3 applications from social apps to AI-driven agents. IO Cloud enables users to deploy and manage decentralized GPU clusters on demand, offering access to powerful GPU resources without the need for costly hardware investments or complex infrastructure management. By delivering a cloud-like experience, IO Cloud democratizes GPU access for ML engineers and developers, making advanced computing power more accessible and affordable by offering up to 90% savings compared to traditional cloud services. Together, io.net and Phala will conduct research, testing and benchmarking, starting with cutting-edge NVIDIA H100s and H200s. The partners will explore deploying Phala Network’s autonomous AI agents and AI agent contracts on the IO Network as well as integrating Phala Network’s TEE hardware and workers into the IO Network of GPUs. About io.net io.net is a decentralized distributed compute network that enables ML engineers to deploy a GPU cluster of any scale within seconds at a fraction of the cost of centralized cloud providers. io.net sources compute resources from multiple locations and deploys them into a single cluster at massive scale. io.net has successfully supported training, fine tuning, and inference for a wide range of ML models. About Phala Phala is a pioneer in confidential computing and secure data processing. They specialize in leveraging Trusted Execution Environments (TEEs) and secure enclaves to enable secure and verifiable computations. Their expertise in confidential computing makes them a valuable partner in advancing the field of verifiable AI computing. Contact Dan Edelstein [email protected]
io.net Partners With Phala Network to Advance Secure Computation and Decentralized AIOn September 26, GPU cloud network io.net announced a strategic partnership with PhalaNetwork to advance secure computing and decentralized AI. Through this partnership, Phala will leverage io.net's cloud network, IOCloud, to access GPU hardware to extend the capabilities of decentralized AI. phala Network will rely on Nvidia H100 and H200 GPUs to support its TEE (Trusted Execution Environment) technology.
io.net Partners with Phala Network to Advance Secure Computing and Decentralized AIThe Partnership enables affordable, secure, on-demand GPU clusters for AI workloads. Phala integrates TEE technology using Nvidia GPUs for advanced AI capabilities. IO Cloud offers on-demand GPU clusters, democratizing access and reducing costs. GPU cloud network io.net has entered into a strategic partnership with Phala Network to advance secure computation and decentralized artificial intelligence (AI). This collaboration will enable Phala to expand its decentralized AI capabilities by leveraging GPU hardware through io.net’s advanced cloud network, IO Cloud. As part of the partnership, Phala Network will integrate its Trusted Execution Environment (TEE) nodes with io.net’s infrastructure, enabling secure and computationally intensive decentralized applications (dapps) to thrive. Integrating Phala’s TEE nodes with io.net’s infrastructure Phala Network, which uses Nvidia H100 and H200 GPUs to power its TEE technology, will benefit from enhanced access to these critical hardware resources, strengthening the foundation of its decentralized AI ecosystem. In a notable achievement, Phala recently set a benchmark for TEE-enabled GPUs, raising the standard for decentralized AI processing. By extending TEE capabilities to AI accelerators like GPUs, this collaboration ensures that sensitive AI workloads are handled with strong cryptographic protection. Nvidia’s H100 Tensor Core GPUs, featuring confidential computing technologies such as encrypted memory and secure boot, are pivotal in Phala’s security strategy. The integration with io.net’s cloud infrastructure will provide Phala with the necessary computational power to support the training and execution of large-scale AI models, including LLaMA 3 and Microsoft Phi. Since its mainnet launch in 2021, Phala has built an infrastructure of over 40,000 TEE CPU nodes, empowering web3 developers to offload complex computations securely. These nodes are essential in maintaining data privacy, offering verifiable proofs, and enabling a range of web3 applications, from AI-driven agents to decentralized social apps. Deploying decentralized on-demand GPU clusters With io.net’s IO Cloud, users can deploy decentralized GPU clusters on demand, eliminating the need for costly hardware investments. The platform offers up to 90% cost savings compared to traditional cloud providers, democratizing access to advanced computational resources. The partnership will also focus on research and benchmarking, starting with cutting-edge Nvidia H100 and H200 GPUs, as both companies explore deploying autonomous AI agents and integrating Phala Network’s TEE technology into io.net’s decentralized GPU network.
GPU Cloud Network io.net partners with Phala NetworkIO Research presents solutions for decentralized finance challenges at the AFT conference. Blockchain Space Tokenization improves scalability by ensuring predictable fees and delays. New strategies enhance online collateral management for efficient Layer 2 protocols. Input Output (IO) Research is tackling critical issues in DeFi and blockchain scalability. The team’s upcoming presentations at the Sixth International Conference on Advances in Financial Technologies (AFT) in Vienna showcase their work. Read also: Input Output Updates Cardano Community on Latest Status Concerning Vasil These contributions aim to boost the efficiency and scalability of decentralized systems, addressing critical technical problems that have long affected blockchain networks. By concentrating on both the theoretical and practical aspects of DeFi systems, IO is at the forefront of blockchain innovation. Blockchain Space Tokenization: A Breakthrough in Blockchain Capacity Management One of the major breakthroughs that IO Research is set to present involves tokenizing blockchain space, a concept that could revolutionize how blockchain networks manage capacity. On Monday, September 23, Giorgos Panagiotakos, an IO research fellow, will present the concept of Blockchain Space Tokenization (BST). This project, co-authored with Elias Koutsoupias, Philip Lazos, and Solon Nikolaou, proposes a new method for optimizing blockchain scalability. It offers a way to tokenize blockchain capacity, leading to predictable fees and transaction delays. Therefore, BST is presented as a way to address one of the blockchain’s major bottlenecks: unpredictable delays and excessive fees caused by worst-case attacks. By creating a more predictable and stable system, BST enhances the overall reliability of decentralized financial platforms. Improving Collateral Management in Layer 2 Protocols In addition to tackling blockchain scalability, IO Research is also advancing the management of online collateral within decentralized protocols. On Tuesday, September 24, another paper, titled “Competitive Policies for Online Collateral Maintenance,” will be presented by Alexander Russell, Ghada Almashaqbeh, and Sixia Chen. This work explores strategies for handling collateral in Layer 2 protocols. These systems offer a way to increase efficiency without compromising the decentralized nature of blockchain. Moreover, the research examines the balance between settled value and transaction fees, a crucial factor in decentralized finance. The strategies developed aim to achieve a consistent tradeoff between the two, providing a more efficient approach to collateral management. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
Blockchain Space Tokenization: IO’s Novel Approach at AFTIn an announcement this Wednesday, Solana-based firms io.net, the decentralized distributed compute network designed to power machine learning at scale, and TARS Protocol, an AI-driven, scalable Web3 infrastructure for platforms native to Solana blockchain, announced a strategic partnership to advance AI-powered Web 3 infrastructure. The partnership will see the two tech firms join forces to “explore a range of integrations and joint initiatives aimed at accelerating the adoption of decentralized AI, machine learning and Blockchain-as-a-Service (BaaS) solutions”, the press release further stated. As humanity increasingly adopts AI, the TARS AI protocol aims to be at the forefront of driving this future, especially in Web 3. The platform offers a singularity point between Solana and AI, aiming at driving massive adoption natively on-chain through progressive AI architecture to the Solana ecosystem. TARS’ application stack provides access to modular applications via its AI Console, real-time Web 3 data on its Consumer AI app, an AI Hub for consumer building tools, and a search engine, TGPT. The partnership with io.net aims to combine the strengths of the two firms to develop cutting-edge tools and services for AI and Web 3 developers. Building synergy will allow their users to seamlessly integrate AI with blockchain technology, accelerating the transition from Web2 to Web3 for organizations and developers. On its part, io.net will provide a network of over 11,000+ GPUs and CPUs to the TARS AI Hub, enabling faster and more efficient deployment of AI models. Notwithstanding, TARS users will also benefit from access to io.net’s decentralized GPU clusters, cutting AI model training costs by up to 30%, while ensuring the scalability and performance needed for complex AI applications. Finally, the partnership will also create new opportunities for ecosystem growth across both communities, as the developers build for the next stage of decentralized AI applications. To see this through, the announcement also confirmed a joint roadmap that will feature key co-marketing activities over the next six months. The roadmap aims to drive ongoing innovation and adoption efforts to benefit the 1,000+ developers and businesses across both platforms. Users will also enjoy quicker AI deployments, reduced costs, and greater flexibility, all within a more decentralized infrastructure. Follow The Crypto Times on Google News to Stay Updated!
io.net Partners With TARS Protocol To Advance AI Within SolanaKey Takeaways CEX.IO is collaborating with MoneyGram. MoneyGram’s partnership with CEX.IO marks its first-ever collaboration with a global cryptocurrency exchange. CEX.IO customers across 152 countries will be able to convert their USDC for cash. CEX.IO has become the first crypto exchange to integrate MoneyGram’s international money transfer infrastructure to enable users across 152 countries to exchange digital assets for fiat currencies. The integration, powered by the Stellar network , aims to make it easier for users to enter and exit the crypto market, particularly in regions with limited financial infrastructure. By streamlining the onboarding and off-ramping process, CEX.IO looks to address a longstanding pain point for crypto users and help bridge the gap between the crypto ecosystem and traditional finance, which has been cautious about engaging with the sector due to regulatory uncertainty. CEX.IO To Allow USDC Conversion To Cash In a press release shared with CCN, CEX.IO revealed that to use the service, users must provide personal information, including the address of their nearest MoneyGram kiosk or office, after which they can withdraw their USDC in cash. Additionally, customers will also be able to convert their cash into USDC and add it to their exchange wallet using MoneyGram’s partner offices. Availability of this feature, however, is currently restricted to select European markets, including Austria, Hungary, Ireland, Lithuania, and Poland. CEX.IO’s crypto-to-cash conversion services will be available in 152 countries across several regions , including the EEA, Africa, EMEA, and LATAM. However, some major markets are absent, such as the United States, the United Kingdom, Pakistan, Singapore, Iran, Japan, and Russia, among others. Arina Dudko, Director of Lithuania and Head of Corporate Payment Solutions at CEX.IO said the exchange has always sought partners to offer off-ramp services. “Our integration with MoneyGram’s cash-to-crypto service built on the Stellar network increases the versatility of payment methods available to our six million global users. Not only will this give customers a greater range of access points, but the two-way functionality helps extend critical services to under or un-banked participants.” CEX.IO will offer its USDC withdrawal service for free through the remainder of 2024, the company told CCN. Made Possible By Stellar CEX.IO’s MoneyGram integration wouldn’t have been possible without Stellar. Stellar and MoneyGram jointly developed MoneyGram Access, the partnership’s underlying technology, in 2022. MoneyGram Access leverages the Stellar blockchain, its financial network, Stellar-compatible crypto wallets, and USDC to facilitate the exchange of USDC for cash and vice versa. MoneyGram’s entry into the crypto space dates back to 2019, when it partnered with Ripple. However, MoneyGram terminated the partnership in the wake of a Securities and Exchange Commission (SEC) lawsuit against Ripple , which led to a significant reputational and financial blow to the company.
CEX.IO Integrates MoneyGram, Makes Crypto Cash-Outs Accessible in 152 CountriesLast updated: September 18, 2024 08:59 EDT Crypto exchange CEX.io has partnered with financial services company MoneyGram and the Stellar blockchain to enhance its crypto cash-in and cash-out capabilities. The collaboration aims to provide CEX.io users with access to seamless conversion between Circle’s USD Coin (USDC) and physical cash, available at participating MoneyGram locations, the firms said in a press release shared with CryptoNews. The integration will initially target customers across regions such as the European Economic Area (EEA), Africa, and Latin America. Currently, users in Austria, Hungary, Ireland, Lithuania, and Poland can utilize physical cash for these services, with more countries expected to join the list soon. Stellar to Enable Cost-Effective Transactions Stellar’s blockchain technology will also play a key role in the partnership, enabling efficient and cost-effective transactions. Stellar, known for facilitating the tokenization of traditional currencies, will support CEX.io’s fiat-to-USDC and USDC-to-fiat conversion processes. The blockchain’s integration is expected to streamline these services, ensuring smooth transactions for users at MoneyGram locations. “Our integration with MoneyGram’s cash-to-crypto service built on the Stellar network increases the versatility of payment methods available to our six million global users,” said Arina Dudko, CEX.io’s Head of Corporate Payment Solutions. “Not only will this give customers a greater range of access points, but the two-way functionality helps extend critical services to under or un-banked participants.” 🆕 CEX•IO enables cash-in and cash-out transactions in USDC at participating @MoneyGram locations! ➕ We’re thrilled to add this reputable service integration to the existing plethora of methods available on our platform. 🔄 Enjoy the convenience of converting your local… pic.twitter.com/xKsyq2rUG3 — CEX.IO (@cex_io) September 18, 2024 Additionally, CEX.io’s collaboration comes amid the growing development of a euro-pegged stablecoin (EURT) on the Stellar network. The stablecoin project, led by fintech firms Next Generation and Decta, aligns with the European Union’s Markets in Crypto-Assets Regulation (MiCA), which took effect in July 2024. The full MiCA framework, which regulates stablecoins and crypto service providers, is expected to be fully enforced by December, further shaping the regulatory landscape for digital assets in Europe. Last week, CEX.IO resumed operations in the UK after successfully complying with the Financial Conduct Authority’s (FCA) regulations. The company had voluntarily paused its UK services following the introduction of new crypto asset financial promotion regulations by the FCA in October 2023. Stellar Buys Minority Stake in MoneyGram Earlier this year, the Stellar Development Foundation (SDF) announced that it has become a minority investor in payments provider MoneyGram International. According to an announcement, the investment was made out of SDF’s cash treasury, using the assets set aside to support the SDF operations, rather than the Enterprise Fund, used to invest in startups and earlier-stage companies. In February, the SDF announced the successful deployment of smart contracts on the Stellar network. To encourage developers to embrace the Soroban smart contract platform, the SDF initiated a $100 million funding initiative in October 2022.
CEX.io Partners with MoneyGram and Stellar to Enhance Crypto Cash-In and Cash-Out ServicesIllia Otychenko, chief analyst at CEX.IO, said that while lower rates are usually good for risky assets like bitcoin, investors should focus on the Fed's forward guidance. Even if the Fed chooses to cut rates by 50 basis points, the market's reaction will likely depend on Fed Chairman Jerome Powell's comments on future monetary policy actions. Without clear forward guidance, institutional investors may reduce their exposure, which could dampen bitcoin's bullish momentum.
Analyst: Bitcoin Investors Should Focus on Fed's Forward Guidanceio.net, a decentralized distributed compute network designed to enable machine learning at scale, has formed a strategic partnership with TARS Protocol, one of the only AI-driven, scalable Web3 infrastructure platforms native to Solana and backed by the Solana Foundation. The two firms have decided to work together to find ways to integrate their respective platforms and launch cooperative projects to hasten the spread of decentralized artificial intelligence (AI) and Blockchain-as-a-Service (BaaS) solutions. Together, io.net and TARS Protocol are developing innovative services and solutions for the AI and Web3 ecosystems. By working together, the two firms want to quickly help developers and organizations make the shift from Web2 to Web3 by combining blockchain technology and artificial intelligence. In order to facilitate the efficient and rapid deployment of AI models, io.net will bring its network of more than 11,000 distributed devices (Gpus + Cpus: https://id.io.net/explorer/home ) to the TARS AI Hub. The integration between TARS and io.net’s decentralized GPU clusters will allow customers to train AI models for up to 30% less money, all while getting the speed and scalability required for advanced AI applications. As the firms push the limits of decentralized AI, this alliance creates new technological and strategic prospects for ecosystem development. io.net and TARS Protocol want to further innovation for the benefit of the 1,000+ developers and companies on both platforms. To that end, they have developed a combined roadmap that includes important co-marketing initiatives over the next six months. Users will benefit from more decentralized infrastructure, faster AI implementations, lower costs, and more flexibility.
io.net Partners with TARS Protocol to Accelerate Decentralized AI and Web3 SolutionsA popular crypto analyst thinks the modular blockchain network Celestia ( TIA ) will collapse in price over the long term. Pseudonymous analyst Altcoin Sherpa tells his 222,800 followers on the social media platform X that TIA will plunge to below $1 eventually, though he acknowledges it could see some “random short squeezes” before that. “Psyops would be to pump price going into unlocks so all early shorters get rekt; plebs buy this thing and chase, and seed investors slowly get to dump. Wouldn’t hold this thing for a long time, but I’d probably lean towards longing it in the short term? Probabaly grab an entry around 4.60ish-4.40?” Source: Altcoin Sherpa/X Market participants have been uncertain about the future price action of Celestia, given that the project is slated to unlock 175.74 million TIA tokens on October 31st, according to the digital asset research website CryptoRank.io . A token unlock adds more coins to the circulating supply, which could induce selling pressure from investors who got in first. TIA is trading at $4.65 at time of writing, a fractional decrease over the past day. Altcoin Sherpa also says he’s not currently accumulating FET , the native token of the Artificial Superintelligence Alliance, an artificial intelligence (AI)-focused project. “I think looks good but I am not personally buying here. S/R (support/resistance) level + 200-day EMA (expontential moving average) that’s acted as resistance. Happy to buy this higher though because breaking the $1.48 area would mean a higher high/shift in trend.” Source: Altcoin Sherpa/X FET is trading at $1.26 at time of writing and is down more than 2% in the past 24 hours. Conversely, the analyst thinks layer-1 blockchain Sui ( SUI ) is a “decent one to trade.” “Don’t think much about it long term given unlocks/everything else but in the mid-term it looks like you should only be longing this thing. Higher low + 1-day EMAs all strong.” Source: Altcoin Sherpa/X SUI is trading at $1.02 at time of writing and is down 1.74% in the past 24 hours. Altcoin Sherpa also notes that he accumulated IO , the native token of the decentralized computing network IO.NET, at $1.76. The trader shares a chart suggesting that IO has flipped a former resistance level into support. Source: Altcoin Sherpa/X IO is trading at $1.73 at time of writing. Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Generated Image: Midjourney
Analyst Predicts Massive Collapse for Celestia (TIA), Updates Outlook on FET and Two Additional AltcoinsLast updated: September 16, 2024 07:34 EDT Prominnet crypto fund Hack VC has raised $77 million for its third fund, nearing its target of $80 million. The fund has exceeded expectations and is now considered “oversubscribed,” Fortune reported , citing filings with the Securities and Exchange Commission (SEC), internal documents, and sources familiar with the matter. Founded by Alex Pack and Ed Roman, two seasoned blockchain experts, Hack VC is focusing its latest fund on seed-stage investments. Hack VC’s Latest Fund Achieves Impressive Returns The firm started deploying capital from this fund in 2023, achieving impressive early returns. Documents shared with investors reveal a net return of 1.7 times the initial capital invested, benefiting from a recent upswing in the crypto market. Hack VC launched its first fund in 2021, closing with $206 million in commitments. The fund, however, saw some early challenges, returning 90% of its invested capital and showing a slight loss overall. Nonetheless, this did not deter the firm from moving forward, raising a $150 million second fund in 2022, this time focusing on later-stage companies and token investments. The second fund delivered a net return of 150%, with notable success in projects such as io.net, a decentralized cloud computing network, and Elixir, a liquidity network for crypto exchanges. JUST IN: @hack_vc , a crypto venture fund founded by blockchain veterans @alpackaP and @ed_roman , has raised $77 million for an oversubscribed third blockchain fund, documents show. pic.twitter.com/S3gwuz3KLM — Satoshi Club (@esatoshiclub) September 16, 2024 In a recent interview, Pack described the crypto industry as being in a similar phase to the internet in the mid-90s, underscoring the long-term potential for infrastructure investments. The second fund has already deployed $75 million—half of the committed capital—and its holdings are currently valued at $150 million. Hack VC’s third fund, initially expected to raise at least $100 million, has seen strong demand from investors, despite a lower target of $80 million. As of late August, the fund has already secured more than $77 million across two vehicles, including a feeder fund for international investments. Hack VC Secures One of Largest Crypto Fund Raises Hack VC’s third fund places it among the largest crypto-focused venture capital raises in 2024. Other notable funds include ParaFi’s $120 million raise and Lemniscap’s $70 million. Accolade, a blockchain fund of funds, also recently secured $135 million across two vehicles, while Paradigm announced an $850 million fund, significantly smaller than its 2021 offering of $2.5 billion. Despite new capital inflows into the sector, the cryptocurrency market remains at a crossroads. Prices for leading assets like Bitcoin have stabilized after a brief rally earlier this year, fueled by the U.S. SEC’s approval of Bitcoin and Ethereum ETFs. However, regulatory uncertainty continues to weigh on the industry, and mainstream adoption has been slower than anticipated. As reported, in the second quarter of 2024, crypto startups managed to attract $2.7 billion in funding across 503 deals, marking a slight increase in capital raised despite a noticeable decline in deal volume. Infrastructure startups led the funding race during Q2, with significant rounds raised by Monad, a parallelization Layer 1 platform, which secured $225 million in Series A funding.
Crypto Venture Giant Hack VC Raises $77M for its ‘Oversubscribed’ Third FundTennessee Congressman John Rose has introduced a significant piece of legislation called the “BRIDGE Digital Assets Act,” aimed at reshaping the U.S. regulatory framework for cryptocurrencies. The proposed bill suggests the creation of a Joint Advisory Committee, composed of representatives from both the SEC and the CFTC. This committee would work to reconcile the current conflicting regulations between these two agencies, which oversee different aspects of digital assets. Rose criticizes the existing “regulation-by-enforcement” model, arguing that it hampers innovation and pushes investment abroad. He advocates for a more supportive regulatory environment for digital asset development. The BRIDGE Act proposes a committee with at least 20 members from the private sector, including digital asset issuers, researchers, and users, to offer recommendations on various aspects of digital assets like decentralization and security. This committee is expected to meet biannually, with its findings presented to both the SEC and CFTC. READ MORE: Crypto Exchange CEX.IO Resumes UK Operations Amid Regulatory Changes A central goal of the BRIDGE Act is to address the regulatory confusion caused by differing interpretations of digital assets by the SEC and CFTC. By fostering cooperation between these agencies, the act aims to create a unified regulatory approach, enhancing consumer protection, disclosure, and reducing transaction costs. The bill outlines a specific timeline for implementation: within 90 days of enactment, the SEC and CFTC must establish the committee’s charter, appoint members within 120 days, and hold the first meeting within 180 days. The BRIDGE Digital Assets Act could potentially bring a balanced regulatory framework, benefiting the U.S. economy and its position in the global digital asset market. SHARE: 0 SHARES
New Bill Seeks to Simplify U.S. Crypto RegulationsAiFi Summit 2024 will be held at Grand Hyatt Singapore on September 17, 2024, focusing on how to promote Ai Financialization (AiFi) through blockchain technology. As one of the key events during TOKEN2049, the summit invited first-line institutions such as Hack VC, Faction VC, Hashed, The Spartan Group, L2IV, CMCC Global, CoinFund, MH Ventures, Paramita VC, and guests from GAIB, Codatta, PingPong, GamePlus, Plume, MetaStreet, ORA, Aspecta, Aethir, Hyperbolic, Akash, Kaisar, CoinFund, OpenLedger, Zettablock, Public AI, SuperAlignment, Nimble, 0G, Sahara AI, Mira, Orochi, dappOS, Movement, Polyhedra, Monad, Talus, Hetu and Exocore to discuss the key role of blockchain in supporting the Ai economy. The summit will have in-depth exchanges on model ownership, data management, tokenization of computing power assets, decentralized financial (DeFi) tools, Ai infrastructure and its applications. We look forward to inspiring more innovative ideas through the collision of ideas, and looking forward to the infinite possibilities and future opportunities brought by Ai + Web3! Date: September 17, 2024 Time: 1:00 pm - 6:30 pm (GMT+8) Venue: Grand Salon, 2nd Floor, Grand Hyatt Singapore Register now: https://lu.ma/hp2qx40n Organizer: GAIB: The economic layer of Ai and computing power. We create a new asset class that allows anyone to directly invest in the Ai, GPU and computing power markets. Realize true AiFi, GPU tokenization, GPU-backed stablecoins, derivatives, and more. Codatta: Codatta is a universal annotation and labeling platform that aims to transform human intelligence into Ai. By reducing costs and providing incentives for data contributors, Codatta drives the development of Ai with cutting-edge data solutions. PINGPONG: PINGPONG is the world's first DePINFi funding market and service aggregator, leading the innovation of decentralized finance and infrastructure. Game Plus: Game Plus improves the intelligence of game Ai tools and agents by training them with user-owned data. By deploying on-chain LLMs and Ai agents, Game Plus enables developers to create highly interactive and intelligent games through its Ai asset generation engine. Co-organizers: Polyhedra, Hyperbolic, dappOS, Aethir, Talus, Nimble, Plume Sponsors and partners: Akash, Public AI, Mira, OpenLedger, Orochi, SuperAlignment, Kaisar, Zettablock, ORA, Metastreet, IO.net, 0G, Sahara, Movement, Monad, Nansen, DNA House, Aspecta, Exocore, Witness Chain VC partners: Hack VC, Faction, Hashed, Spartan, L2IV, CMCC Global, CoinFund, MH Ventures, Paramita Media partners: PANews, Odaily, Tech Flow, Blockbeats, Foresight News, Wu Blockchain Community partners: Edge Intelligence, AiFi Consortium This article is from a contribution and does not represent the views of BlockBeats
Meet TOKEN2049 and explore the future of AiFi with GAIB, Codatta, PingPong, GamePlus and many other projects at "AiFi Summit 2024"Hong Kong’s Securities and Futures Commission (SFC) has sought opinions from industry participants on whether to introduce a new licensing regime for cryptocurrency over-the-counter (OTC) services. The new regime would see SFC, the securities and futures markets regulator, working with the Customs and Excise Department (C&ED) to supervise the companies offering crypto OTC trading services. According to a South China Morning Post report , the planned regulations and licensing for OTC services were initially to be handled exclusively by the C&ED under a proposal made public in February. OTC trading services allow users to buy and sell cryptocurrencies privately. Check out Cointelegraph’s guide to learn more about how crypto OTC trading works . The SFC has recently sought input from companies that currently provide OTC trading services on implementing a new licensing regime for cryptocurrency custodian services. Discussions on both these licenses are still in the early stages, the SCMP report said, quoting sources it did not identify. SFC puts suspicious crypto platforms on ‘alert list’ The SFC, meanwhile, has published an ‘alert list’ that names “suspicious virtual asset trading platforms,” or unlicensed entities operating in Hong Kong. SFC said these entities could be targeting Hong Kong investors. The alert list names suspicious websites or unlicensed entities since Jan. 2020. Related: Hong Kong accepts crypto license application past deadline A few names of unlicensed or suspicious entities on Hong Kong SFC’s alert list. Source: SFC Hong Kong tightening oversight as it eyes global crypto hub status Hong Kong has been striving to establish itself as a global cryptocurrency hub , attracting investors and related businesses to the city’s digital assets industry. As of June 1, operating an unlicensed virtual asset trading platform (VATP) in Hong Kong became a criminal offense. At present, there are only two fully licensed virtual asset trading platforms in Hong Kong: Hash Blockchain and OSL Digital Securities. OSL did not immediately reply to Cointelegraph’s request for comments. Crypto exchanges that have yet to receive full operational licenses in Hong Kong include Crypto.com, Bullish, HKbitEX, PantherTrade, Accumulus, DFX Labs, Bixin.com, EX.IO, YAX, WhaleFin and Matrixport HK. Magazine: How Chinese traders and miners get around China’s crypto ban
Hong Kong considers new licensing regime for OTC crypto tradingLast updated: September 12, 2024 07:09 EDT Crypto exchange CEX.IO has resumed operations in the UK after successfully complying with the Financial Conduct Authority’s (FCA) regulations. The company had voluntarily paused its UK services following the introduction of new crypto asset financial promotion regulations by the FCA in October 2023. The UK had been a significant market for CEX.IO before the suspension, with 69% of its European Economic Area customers based in the country, the exchange said in a press release shared with CryptoNews. CEX.IO Offers Access to 190 Digital Assets The exchange currently offers access to 190 digital assets to its UK users. “We aim to strengthen our presence in the U.K. by aligning with new regulatory standards and supporting the region’s growth as a hub for the cryptocurrency market,” Rich Evans, Managing Director of CEX.IO UK, said in a comment. He also highlighted CEX.IO’s strong security measures and its clean record with regulators over its 11-year history. According to Evans, prioritizing legal compliance and customer trust has always been at the forefront of the company’s business model, even at the cost of short-term growth. JUST IN 🇬🇧Crypto exchange @cex_io resumed operations in UK, after collaboration with @Nexo , now meeting guidelines of the FCA-authorized and regulated financial promotion approver Gateway 21.💱 pic.twitter.com/MUh4lXFUw0 — CryptoToday.com (@CryptooToday) September 12, 2024 Although CEX.IO is still in the process of obtaining full Anti-Money Laundering (AML) registration with the FCA, the exchange was able to return to the UK market through a partnership with Gateway 21. This FCA-authorized firm acts as a financial promotion approver, helping CEX.IO meet compliance requirements. CEX.IO’s services are currently provided from Lithuania, a strategy increasingly adopted by crypto companies to navigate the UK’s regulatory environment. For example, crypto lender Nexo recently resumed UK operations through a similar arrangement with Gateway 21. As part of the compliance process, UK-based crypto firms must implement measures like cool-off periods and risk warnings tailored specifically for UK clients. Additionally, users are required to complete investor categorization questionnaires and undergo assessments to ensure the appropriateness of their investment decisions. These steps have become standard practice for crypto companies operating in the UK under the new regulatory regime. CEX.IO Started as Bitcoin Mining Pool CEX.IO’s origins trace back to 2013 when it launched as the GHash.IO mining pool. The pool connected miners who collectively produced over 583,000 Bitcoins before ceasing operations. At its peak, GHash.IO controlled nearly 51% of Bitcoin’s hash rate, raising concerns in the crypto community about the risk of a “51% attack,” which could theoretically allow the pool to manipulate transactions. To avoid this, several miners left the pool, and GHash.IO eventually closed its doors. The FCA’s new rules for crypto asset financial promotions, which took effect in October 2023, were aimed at improving the transparency of marketing in the sector. Since its implementation, the FCA has issued over 450 alerts related to illegal promotions. The regulator has been stringent in enforcing these rules, warning that even social media posts, such as crypto memes, could violate the guidelines. Crypto exchanges, including Coinbase and Binance, have responded by modifying their services for UK users to avoid non-compliance. The new regulatory framework has proven challenging for many companies, with some, like Bybit, choosing to exit the UK market entirely. However, several major exchanges, including Coinbase , OKX , and Binance, have partnered with third-party firms authorized by the FCA to continue operating within the UK.
CEX.IO Resumes UK Operations After Meeting FCA Compliance RequirementsDelivery scenarios