ZERAORA (@zeraora) • Hey
exploring the alluring world
Publications
- Polkadot’s Marketing Spend Backlash
Polkadot faced criticism for its $37 million marketing expenditure, which did not yield the expected returns.
Despite robust community growth on the Polkadot Forum, significant marketing costs failed to translate into desired market performance.
The community expressed concern about spending efficiency, especially given the high allocation for marketing initiatives.
Polkadot’s financial report revealed that it spent a total of $87 million (equivalent to 11 million DOTs) in the first half of 2024, with $37 million specifically earmarked for marketing efforts.
However, the impact of this spending remains a topic of debate.At the current consumption rate, Polkadot’s funds can still last for approximately 2 years.
Polkadot’s ambitious marketing strategy has sparked fury within the blockchain community, emphasizing the need for more effective approaches to achieve desired market outcomes.
- Cryptocurrency markets are abuzz with speculation following the German government’s recent transfer of 1,500 Bitcoin (BTC) worth approximately $95 million. Reported by Lookonchain, this move has alarmed both seasoned investors and market analysts. So, why do we occasionally witness such actions from Germany?
https://coinmarketcap.com/community/articles/6683ea7304db42623c1e557c/
- Sony is making waves in the crypto world by restarting the Japanese crypto exchange Whalefin, which it acquired from Amber Group in 2023.
Sony purchased Whalefin from Amber Group and rebranded it as S.BLOX Co. The acquisition took place in August 2023.
S.BLOX Co. aims to collaborate with other businesses under Sony's umbrella to enhance its crypto trading services. By leveraging Sony's resources and expertise, the platform seeks to generate value for its users.
While Sony has previously explored Web3 through investments and partnerships, this deal marks its official entry into the crypto market. The company's previous ventures include teaming up with the Astar Network for a Web3 incubation program and filing a patent for transferring non-fungible tokens (NFTs) between different games and consoles.
Last year, Amber Group had considered selling its Japanese unit due to strict regulations in the nation. Sony's move demonstrates its commitment to navigating the evolving crypto landscape.
Sony's rebranding of Whalefin as S.BLOX Co. signifies its strategic foray into the crypto exchange arena, bringing fresh opportunities and innovation to the Japanese market.
- Initially expected in early July, the launch of Ethereum ETFs has just been postponed by the SEC, plunging crypto investors into palpable uncertainty. This unexpected decision, underpinned by additional requests for reviews of the S-1 forms, highlights the persistent regulatory challenges faced by the adoption of digital assets.
https://www.cointribune.com/en/crypto-ethereum-etfs-launch-delayed-again/
- Crypto ATM Installations Rise in 2024, Adding 2,564 New Machines Globally
In 2024, the global deployment of cryptocurrency ATMs saw a significant expansion with the addition of 2,564 new machines. This surge underscores the growing popularity and integration of cryptocurrencies into mainstream financial systems worldwide.
Crypto ATMs serve as crucial infrastructure by enabling users to conveniently convert between fiat currencies and various digital assets. The rise in installations reflects increasing demand from both individual users and businesses seeking accessible avenues to engage with cryptocurrencies. These machines not only provide a user-friendly interface for transactions but also contribute to the normalization and acceptance of digital currencies in everyday financial activities.
The expansion of crypto ATMs signifies a pivotal step towards broader adoption and utilization of blockchain-based technologies, potentially paving the way for further innovation and integration within the global financial ecosystem.
- China, which had previously imposed a strict ban on crypto mining activities, is facing growing calls to reconsider its stance.
https://www.cointribune.com/en/crypto-china-could-restore-mining-4-billion-at-stake/
- The Central Bank of Bolivia (BCB) has taken a significant step by lifting its ban on Bitcoin and crypto payments. This regulatory change allows financial entities in Bolivia to conduct transactions involving digital assets.
Bolivia’s previous ban on crypto use, which began in 2014, has now come to an end. The government had prohibited banking entities from interacting with cryptocurrencies in December 2020.
Under the new regulations, banks are authorized to transact in cryptocurrencies via approved electronic channels. However, it’s essential to note that cryptocurrencies are not accepted as legal tender in Bolivia. Companies are not obligated to accept them as payment.
As part of its Economic and Financial Education Plan, the BCB plans to create an awareness program for the general public. This initiative aims to educate people about the potential risks associated with cryptocurrencies and how to manage them responsibly.
By allowing crypto transactions, Bolivia aligns itself with Latin American crypto regulations. Other countries in the region, such as El Salvador and Mexico, have also embraced cryptocurrencies to address economic challenges.
- The U.S. Securities and Exchange Commission (SEC) returned the S-1 forms to prospective Ethereum ETF issuers in the latest round of back and forth before they go effective.
https://www.theblock.co/amp/post/302687/sec-returns-s-1-forms-to-ethereum-etf-issuers-with-at-least-one-more-round-to-go-source
- The hottest month of $SOCIAL Summer will also feature its hottest event, the much-awaited listing! 🔥
With LayerZero OFT standard the token will be multi-chain just like Phaver, with cheap seamless transfer between ETH, BASE and others!⚡️ Stay tuned for more details! 🚀 ➡️
What are LayerZero OFTs? ✍️
- Omnichain Fungible Tokens live natively on multiple chains, no wrappers needed 🌐
- Transfer between chains is faster, cheaper, and safer than traditional bridging ⚡️
- #phairdrop can be redeemed for minimal gas fees 💸
Keep Phavering! 🎊 💜
Remember that $SOCIAL is not yet available to buy or trade anywhere. Stay safe and beware of scam links. ⚠️ Always verify through our official channels. 🫡
- The Securities and Exchange Commission (SEC) on Friday sued Consensys in federal court in Brooklyn, New York, over allegations that the company "engaged in the offer and sale of securities" and "acted as an unregistered broker" through its digital asset wallet called MetaMask.
https://www.cnbc.com/amp/2024/06/28/sec-sues-ethereum-company-consensys-expanding-industrywide-crackdown.html
- A federal judge dismissed part of the U.S. Securities and Exchange Commission's (SEC) lawsuit against crypto exchange Binance and founder Changpeng Zhao, but allowed other charges, including charges against the holding company for Binance.US, to proceed.
https://www.coindesk.com/policy/2024/06/29/us-judge-lets-most-of-sec-case-against-binance-proceed-dismisses-secondary-sales-charge/amp/
- A fake Phantom wallet on Apple’s app store is reportedly draining user funds when a user recovers their account using their private key.
https://crypto.news/fake-phantom-wallet-breaches-apples-app-store-draining-crypto-assets/
- Guess who grabbed the social trophie.. 🦈🦈
@cmon @1_CryptoMAN @Antonella @Monniverse
- Guess who grabbed the social trophie.. 🦈🦈
@cmon @1_CryptoMAN @Antonella @Monniverse
- Guess who grabbed the social trophie.. 🦈🦈
@cmon @1_CryptoMAN @Antonella @Monniverse
- Guess who grabbed the social trophie.. 🦈🦈
@cmon @1_CryptoMAN @Antonella @Monniverse
- Shello enchanting creatures!🦈
2 DAYS LEFT TO ANNOUNCE THE 3 SHARK WINNERS.
You can still participate:
-LIKE and MIRROR THIS POST
- POST your SHARK MEME
- TAG @cmon @1_CryptoMAN
@Antonella @Monniverse
⏰END OF THE CONTEST :06/29/24
https://opensea.io/assets/matic/0xbba2eaf8af13e5b79c77f7f67909af9c7a54ad03/4
- Hey New Phaverians, you should join Phaver Discord Server ! Trust me. Here’s why —>
Phaver has a huge and active Discord Server. We have amazing supporters, contributors and team @amazix to help you. You can find 24/7 answer for your questions.
Also, Phaver discord server has 25 different language channels. In these channels, you can chat with people in your native language and ask for help if you need to !
Discord Server is the best place to follow latest announcements of Phaver. I see some people cannot follow announcements because they may miss the Phaver’s post in app. Following the Phaver X account and joining to Discord Server can help you to follow updates/announcements.
Phaver Discord: discord.gg/phaver
Phaver X Account : https://x.com/phaverapp
I got 500+ DM request, mostly asking questions about how to level up, increasing points or technical issues etc… I'm trying to do my best however, I can’t handle all of them anymore. Kindly use discord. That will be much more helpful/ easier for you 🫶🏻
- Spot Bitcoin (BTC) ETF Issuer and asset manager VanEck submitted the first-ever bid for a Solana (SOL) exchange-traded fund in the U.S., per a Thursday filing with the Securities and Exchange Commission (SEC). CoinMarketCap data showed that the price of SOL surged over 8% shortly after the news broke.
https://crypto.news/solana-jumps-8-as-vaneck-files-first-sol-etf-bid/
- Crypto exchange Coinbase, through consultancy firm History Associates Inc, has sued the Securities and Exchange Commission (SEC) and the Federal Deposit Insurance Corporation (FDIC) in a U.S. District of Colombia court for unfairly rejecting Freedom of Information Act (FOIA) solicitations.
https://crypto.news/coinbase-sues-sec-and-fdic-over-freedom-of-information-requests/
- Turkey’s parliament passes crypto bill with prison terms and fines up to $182k
https://crypto.news/turkeys-parliament-passes-crypto-bill-with-prison-terms-and-fines-up-to-182k/
- Interpol says it’s waging war on online scam networks — and has seized $257 million in assets following a major sting spanning 61 countries.
https://crypto.news/huge-interpol-operation-exposes-how-prolific-crypto-scams-really-are/
- Worldcoin, the iris-scanning biometric digital identity project, and the Web3 development platform Alchemy revealed a new partnership to build out the infrastructure for the World Chain ecosystem.
https://cointelegraph.com/news/worldcoin-alchemy-build-world-chain-blockchain
- Node Capital just released a report titled “Airdropping: Some Truths,” revealing that airdrops are not risk-free promotions and offer few benefits.
https://crypto.news/crypto-airdrops-are-rigged-against-themselves-report-says/
- The German government has made significant moves in the crypto space by offloading a substantial amount of Bitcoin. Here’s a concise summary:
A German Government (BKA)-labeled cryptocurrency wallet recently sold over $54 million worth of Bitcoin. This wallet executed three individual transactions on June 25.
In the first transaction, 200 BTC were sent to the Coinbase exchange. Shortly after, another 200 BTC were transferred to the Kraken exchange.
However, the most intriguing part is a third transaction involving 500 BTC, equivalent to over $30 million, sent to a wallet labeled as “139Po”, which remains unknown.
Notably, this isn’t the first interaction between the German government and wallet “139Po”. In the past, they sent 800 BTC on June 20 and another 500 BTC on June 19.
Despite these transfers, the wallet still holds a substantial amount of Bitcoin, currently 46,359 BTC.
The government-labeled wallet’s holdings are valued at over $2.8 billion, potentially introducing significant selling pressure that could impact Bitcoin’s price, currently hovering around $61,000.
- The Solana Foundation has introduced an exciting feature called Solana Blinks, which bridges the gap between blockchain and the broader internet. Here’s a concise overview:
1. Blockchain Links (Blinks): These are specifications that empower users to perform on-chain transactions directly from any website displaying a URL. By clicking a blink, users can initiate Solana network transactions. Wallets like Backpack and Phantom provide transaction details, either by connecting to the actual decentralized app (dApp) or directing users to an interstitial signing site. Blinks can be shared like regular URLs, making crypto transactions accessible and seamless.
2. Solana Actions: These are API endpoints that return serialized Solana transaction messages. Actions enable deep integrations with the Solana blockchain beyond typical dApps. Imagine a content creator on platform X starting a donation campaign using Solana Actions. Readers can click buttons to donate specific amounts, and their wallets automatically open for transaction signing. Similarly, a DAO can set up voting channels on chat servers, allowing members to vote via in-chat polls.
- Coinbase could face regulatory challenges over its compliance with new FASB accounting rules that shift the accounting and disclosure for crypto to a fair-value model from a cost-less-impairment model, MarketWatch reported on June 24, citing accounting experts.
https://cryptonews.net/news/legal/29300383/
- One of the four largest banks in Australia, National Australia Bank (NAB) (NASDAQ: NAUBF), has pulled the plug on its AUDN stablecoin.
https://cryptonews.net/news/finance/29301167/
- Solana, a blockchain network known for its scalability and performance, has introduced a groundbreaking feature: ZK Compression. Developed in collaboration with Light Protocol and Helius Labs, this innovation aims to revolutionize on-chain costs and enhance efficiency.
How ZK Compression Works:
1. ZK compression leverages zero-knowledge proofs to reduce token and account creation expenses.
2. By storing only state roots on-chain and retaining other data off-chain, developers can drastically lower storage costs.
3. This technology offers significant scalability improvements, achieving up to 10,000x scale improvements.
Impact and Challenges:
1. Cost Reduction: Solana’s Head of Strategy, Austin Federa, emphasizes that ZK compression addresses the high costs of on-chain account storage. This breakthrough enables more companies to build on-chain products.
2. Layer-2 Debate: Some in the crypto community argue that ZK compression functions more like a layer-2 (L2) solution. Prominent voices, including Adam Cochran, suggest that it’s essential to be transparent about its nature.
- Behind the Crypto Curtain: Why Ethereum Might Be Gearing Up for a Surge
https://blockchainreporter.net/behind-the-crypto-curtain-why-ethereum-might-be-gearing-up-for-a-surge/
- Bitcoin experienced a sharp decline, tumbling toward the $60,900 mark, triggering concerns among crypto bulls. In the past 24 hours, major tokens faced significant losses, with Bitcoin dropping by 3. 53% (today). Other major cryptocurrencies like Ethereum, Cardano, and Solana also witnessed declines. This downward trend led to the liquidation of over $150 million in bullish bets.
Several factors contributed to this market turmoil. Large sales from Bitcoin miners added pressure, while the German government moved a substantial amount of BTC to exchanges. These actions influenced broader market sentiment. Notably, Solana dropped by 7%, and meme coins like Dogecoin and Shiba Inu also suffered losses. Long positions recorded more than $150 million in liquidations, while short positions incurred a smaller loss of $9 million.
The urgency to address these challenges is evident. Miners’ sales and the German government’s BTC movements underscore the need for vigilance. As the crypto landscape evolves, maintaining a balance between innovation and risk management becomes crucial. Bitcoin’s recent volatility highlights the importance of staying informed and adaptable in this dynamic market.
- Layer-2 rollups have been gaining traction in the Ethereum ecosystem, with over 50% of all Ethereum-based transactions occurring on these layer-2 solutions in the first half of June 2024. The recent Dencun (EIP-4844) upgrade played a crucial role in catalyzing this growth, driving the total value locked (TVL) in the layer-2 ecosystem to an all-time high of $48.2 billion.
However, there’s a critical issue: centralized sequencers. While they enhance throughput and performance, they pose significant risks. These risks include potential censorship, security vulnerabilities, and the risk of a single entity extracting the network’s accumulated value. The recent $2.6 million exploit on Linea, a Consensys-backed zkEVM rollup, highlighted the urgency of addressing this problem.
Decentralizing sequencers is essential. Ethereum’s creator, Vitalik Buterin, believes that yesterday’s fears (FUD) can become today’s solved problems. But complacency is dangerous. The incident with Linea underscores the need for prompt action. As the L2 ecosystem continues to grow, safeguarding user interests, investors, and builders becomes paramount.
- Bitcoin miners have been actively selling their holdings since the halving effect kicked in. As the on-chain data suggests, the amount of selling pressure coming from Bitcoin miners is not descending, and at the current pace, there will be very little BTC left to sell.
https://cryptonews.net/news/bitcoin/29289978/
- Hello Frens 👋🏻😊
I hope you're good...
I wanna share something because I think every new users in @phaver are not aware about that.
When you reach Level 2 ↗️2️⃣
You have to :
1- Open your Phaver App Everyday
2- Post one (Good) content or mirror one good
3- USE YOUR PHAVE... (and the good strategy to start to win points is put your 5 phaves to good content and/or good account, like mine ahahhaha or my frens @dedsec1 @erenxdolu @Casper @missionchimera @Jira @cartier @cmon @CoinEmpress @1_CryptoMAN @Crypto0xShep @Phaverator @Saskia @Sophette @Russell_Mc @TAIZAI .... And so much accounts)
And of course you have to follow founders :
@joonatan @dollowen @poolboy @saska @tomifyrqvist
4- Keep Phavering 🦄💪🏻🔥
- Rapper 50 Cent has been ensnared in a cryptocurrency scam where hackers exploited his account to siphon off $3 million. The incident highlights the vulnerabilities faced by celebrities and high-profile individuals in the digital asset realm despite purported security measures.
The hackers reportedly gained unauthorized access to 50 Cent's cryptocurrency holdings, leveraging his fame and financial standing to execute the theft. This breach underscores the ongoing challenges in securing digital assets and the attractiveness of highprofile accounts as targets for cybercriminals.
Authorities are actively investigating the breach to identify the perpetrators and mitigate further risks associated with such fraudulent activities in the cryptocurrency space. The case serves as a stark reminder of the importance of robust security measures and vigilance in managing digital assets especially for individuals with significant public profiles.
As cryptocurrencies continue to gain mainstream attention, incidents like these underscore the need for improved security protocols and awareness among users, including celebrities and influencers who may be particularly susceptible to targeted attack.
- The Solana ecosystem is facing turmoil. Transaction volumes on the blockchain’s decentralized exchanges (DEX) have reached their lowest level since March, marking a significant decline that worries investors and participants in the crypto market. As enthusiasm for memecoins wanes, this new development raises questions about the future and resilience of Solana.
https://www.cointribune.com/en/the-number-of-active-crypto-traders-on-solanas-dex-plummeting/
- Global non-fungible token (NFT) sales experienced a decline this week, dropping 21% from the previous week. Across 21 unique blockchains, the total sales just surpassed the $100 million mark over the past seven days.
https://news.bitcoin.com/nft-sales-plunge-21-amid-broad-crypto-market-decline/
- 🚀 EXCLUSIVE CONTEST 🚀
I'm offering you the chance to win an NFT from the "DenDekaKen Spirit Key Avatars" collection 🗝️ which earns 3 credits and 3 points daily on the Phaver app! 🎉✨
To enter:
1. Subscribe to my account 💥
2. Like + Mirror this post ❤️🔄
3. Comment "I'm participating" under this post 📝
The draw will take place one week from today at 12pm (UTC+2) 📅⏰
Don't miss this unique opportunity! 🏃♂️💨 Good luck to you all! 🍀🤞
- Italy is taking significant steps to enhance surveillance of crypto assets and address associated risks. According to a draft decree reviewed by a news agency, the plan includes imposing high fines on those who manipulate the market.
Enhanced Surveillance:
1. Italy aims to beef up surveillance over risks tied to the crypto asset market.
2. The draft decree designates Italy’s central bank and market watchdog, Consob, as the relevant authorities.
Proposed Fines:
1. The fines will range between 5,000 euros ($5,400) and 5 million euros.
2. These penalties apply to activities such as insider trading, unlawful disclosure of inside information, or market manipulation.
EU Regulatory Framework:
Countries in the European Union are gearing up to implement the bloc’s regulatory framework for the sector, known as the Markets in Crypto Asset (MiCA).
Italy’s Preparedness:
1. Italy has been preparing to follow the MiCA framework.
2. Despite limited exposure of Italian intermediaries to the crypto market, the country has set up a mandatory registration requirement for crypto companies operating within its borders.
- Bitcoin (BTC) is currently experiencing an unusual surge of FUD (fear, uncertainty, and doubt) on the social media platform X. Despite trading sideways around the $65,000 mark, the sentiment remains predominantly negative. Here are the key points:
FUD Intensity:
1. According to data from Santiment, this extended level of FUD is rare.
2. Traders are showing signs of capitulation, reflecting heightened fear and uncertainty.
Sentiment Metrics:
1. Santiment’s Weighted Sentiment Index measures Bitcoin mentions on X.
2. Since May 23, the index has remained negative (-0.738), indicating prevailing negativity.
3. Notable positive events (such as Bitcoin ETF approvals and halvings) briefly shifted sentiment in the past.
Consolidation Period:
1. Bitcoin has been in a sideways phase for around 60 days since the halving.
2. While this consolidation may seem dull, it could potentially pave the way for a significant upside rally.
Greed Index:
1. The Fear and Greed Index currently shows a Greed reading of 63, down 11 points in the last week.
2. This metric considers social media sentiment, volatility, market momentum, and other factors.
- India’s Financial Intelligence Unit (FIU) has imposed a fine of 188.2 million rupees ($2.25 million) on Binance, the world’s largest crypto exchange, for operating in violation of local anti-money laundering regulations. Binance provided services to Indian clients without adhering to the nation’s Anti-Money Laundering (AML) rules. In May, Binance registered with the FIU after the watchdog issued show-cause notices to nine offshore exchanges operating in violation of local rules. The FIU also requested the Ministry of Electronics and Information Technology to block online access to these exchanges. Unlike Tether (USDT), which has faced scrutiny over its reserves and regulatory status, Binance’s transparency aligns well with the new MiCA guidelines. This penalty underscores the importance of regulatory compliance in the crypto industry, and it highlights the need for exchanges to align with AML guidelines.
- Bitcoin’s most popular layer 2, the Lightning Network, had another bug that put users’ funds at risk. Lightning scales faster and cheaper than regular bitcoin transactions by allowing users to join payment channels, therein conducting off-blockchain, ‘bar tab’-like transactions.
By jotting down increases and decreases in bitcoin balances within these payment channels, Lightning users ‘send’ and ‘receive’ bitcoin faster and cheaper than paying miners for the full security and decentralization of on-blockchain transaction
https://cryptonews.net/news/bitcoin/29271502/
- The XRP community is crying foul over the SEC’s perceived favoritism towards Ethereum, sparking outrage and calls for legal action.
The controversy stems from the SEC’s recent decision to drop its lawsuit questioning Ethereum’s security status, shortly after approving a spot Ethereum ETF. This move has drawn stark comparisons to Ripple’s ongoing legal battles with the SEC, fueling accusations of regulatory inconsistency.
https://cryptonews.net/news/legal/29262717/
- Bitfinex, a leading digital asset trading platform, has pioneered the listing of a groundbreaking asset: AUSDT. This new USD-denominated Tethered Asset, developed by Alloy by Tether, introduces a fascinating blend of stability and innovation to the volatile cryptocurrency market.
Here’s what you need to know about AUSDT:
1. Tethered to Gold: AUSDT’s value is tethered to Tether Gold, which itself is backed by physical gold. This connection to a tangible asset adds a layer of reliability and security.
2. Efficiency and Familiarity: AUSDT combines the efficiency of digital assets with the security of gold. It allows institutions to engage in global trading using familiar currencies like the U.S. dollar.
3. Licensed Entities: The token will be available through two licensed entities: Moon Gold NA, S.A. de C.V. and Moon Gold El Salvador, S.A. de C.V. Each caters to specific customer segments.
This move by Bitfinex marks a significant step toward bridging the gap between traditional finance and the crypto world. By linking digital assets to physical gold, AUSDT offers a new level of stability that could reshape the landscape of cryptocurrency trading.
- Retail investors are currently displaying notable caution toward the crypto market. This behavior contrasts with past cycles when their involvement significantly influenced market trends.
Understanding the reasons behind this hesitance is crucial for predicting future market movements
https://cryptonews.net/news/analytics/29259837/
- Three reasons why the crypto market fell on TuesdayAn
@ analyst cited by CryptoQuant theorized that a bottom was in play with the recent market-wide slump.
The total cryptocurrency market declined by more than 7% over the past week and more than 3% in a month. Notably, Bitcoin (BTC) dropped below the $65,000 mark while altcoins suffered massive corrections.
Altcoins, typically more volatile than Bitcoin, have fared worse than the top virtual currency and lost over 4% of of market value in the last 30 days. BTC has shed around 3% in the same timeframe, but the token seems locked in a sideways pattern.
https://cryptonews.net/news/analytics/29259255/
- GameStop’s stock price plunged 13% early Monday afternoon to a price just above $25 as hype cooled following a delayed shareholder meeting, where the firm’s most prominent investor went unnamed.
https://cryptonews.net/news/finance/29251557/
- Coinbase International, the global version of cryptocurrency exchange Coinbase, announced that it will list the EIGEN token on the pre-launch market.
In its hot announcement earlier today, Coinbase International announced that it would now list “pre-launch” tokens that have not yet been released on its platform.
https://cryptonews.net/news/market/29251672/
- U.S. Congressman Ro Khanna, representing California's 17th congressional district, is set to host a Bitcoin and blockchain roundtable in Washington D.C. in early July, according to a private email sent by Khanna's Office, seen by Bitcoin Magazine.
https://cryptonews.net/news/legal/29242038/
- The Cybersecurity and Infrastructure Security Agency (CISA) issued an alert on June 12 about a rise in impersonation scams, often using “the names and titles of government employees.”
The CISA alert explained that its staff will never request money wiring, “cash, cryptocurrency, or use gift cards.”