Crypto Guides, Knowledge & Insights

Michael Saylor: BTC to Enter High Growth Phase from 2024 to 2028, Embraced by BigTech and Banks

MicroStrategy co-founder Michael Saylor recently provided a comprehensive outlook on the future trajectory of Bitcoin (BTC) at the 2023 Australian Cryptocurrency Conference. He discussed the BTC halving event scheduled for 2024 and predicted next year to be crucial for BTC. He anticipates it becoming a “mainstream asset in its adolescence” by the end of next year.　　Looking ahead to 2024-2028, Saylor forecasts that BTC will enter a phase of significant growth, expecting wide adoption within major tech industries and large banks. These sectors are projected to integrate BTC into their respective products and services.　　Moreover, he pointed out the potential participation of major financial institutions such as JPMorgan, Morgan Stanley, Goldman Sachs, Bank of America, and Deutsche Bank in activities including lending, offering mortgage loans, customization, and trading of Bitcoin.　　Taking a long-term view of approximately 25 years, Saylor predicts that BTC will dominate among high-quality assets, emphasizing its potential to outperform the S&P 500 index and the growth of diversified investment portfolios.　　

2023-11-13Deep Dive

Gitcoin: GG19 will commence at 12:00 UTC on November 15, 2023

Gitcoins official announcement on X platform reveals the commencement of GG19 on November 15, 2023, at 12:00 UTC, ending on November 29, 2023, at 23:59 UTC.　　The round consists of three project rounds, over nine community rounds, and funding totaling $1.24 million. Applications will remain open throughout the round, but its encouraged to submit applications promptly. Reviews will be conducted on a first-come, first-served basis. The deadline for ensuring early bird review before the round begins is November 8.　　Given that Gitcoin Passport scores reset after 90 days, users are advised to refresh their scores before GG19 begins on November 15. Note: A minimum score of 15 is required to be eligible for matching. The matching capacity increases proportionally when scores are between 15 and 25.　　GG19s planned rounds OSS and Web3 communities will take place on the Public Goods Network.　　

2023-11-13Deep Dive

FTX Bankruptcy Trustee Sues Bybit to Recover $953 Million in Assets

FTXs bankruptcy trustee has filed a lawsuit against the cryptocurrency exchange Bybit Fintech Ltd and its two subsidiaries this Friday in a Delaware court. The suit seeks to recover approximately $953 million in cash and crypto assets that were withdrawn from the platform before FTXs collapse.　　The lawsuit alleges that Mirana Corp., an investment arm under Bybit, possessed special VIP privileges that most FTX customers did not have, utilizing these privileges to move a significant portion of its assets out of FTXs platform during the FTX collapse. While FTX clients were waiting in line for withdrawals, Mirana exerted pressure on FTX employees to meet its withdrawal requests.　　Another subsidiary named in the suit is Time Research Ltd.　　

2023-11-13Deep Dive

DeFi Platform Raft Under $3.3 Million Attack, But Hackers Face Losses

The decentralized finance platform Raft suffered a hack on Friday afternoon, resulting in a loss of approximately $3.3 million worth of Ethereum. However, the attacker might have incurred losses during this theft.　　On-chain data indicates that the attacker siphoned off 1,577 ETH from Raft and subsequently sent 1,570 ETH to a burn address—essentially destroying the majority of the stolen assets, leaving only 7 ETH. Prior to the attack, the hackers address received 18 ETH via the encrypted mixing service Tornado Cash, seemingly to fund transactions.　　After executing transfers and paying blockchain fees, the hackers crypto wallet was left with only 14 ETH, which is less than the initial 18 ETH received.　　

2023-11-13Deep Dive

NEAR Foundation Partners with Eigen Labs to Co-Develop Layer 2 Project EigenLayer

The NEAR Foundation has announced a collaboration with Eigen Labs to facilitate faster and more cost-effective Web3 transactions on Ethereums rollup through EigenLayer. EigenLayer aims to be the worlds first “fast finality layer” for Ethereum Layer 2. The team states that transaction times on this network will be reduced to 3-4 seconds, and the cost of transacting on this layer will be approximately 4,000 times cheaper than the current options.　　

2023-11-13Deep Dive

This Week: CYBER, APE, ROSE, and More Tokens Scheduled for Major Unlocks

Token Unlocks data reveals that this week (November 13th to November 19th), five tokens - CYBER, FLOW, 1INCH, APE, and ROSE - are set to undergo substantial unlocks:　　At 2:14 UTC on November 15th, CyberConnect is scheduled to unlock 1.26 million CYBER tokens (approximately $8.56 million), accounting for 11.43% of the circulating supply.　　At 8:00 UTC on November 16th, Flow will unlock 2.6 million FLOW tokens (about $1.82 million), representing 0.25% of the circulating supply.　　At 20:00 UTC on November 16th, 1inch will unlock 21,430 1INCH tokens (approximately $8,160).　　At 8:00 UTC on November 17th, ApeCoin is set to unlock 15.6 million APE tokens (around $23.56 million), comprising 4.23% of the circulating supply.　　On November 19th at 12:00 UTC, Oasis Network will unlock 196 million ROSE tokens (approximately $14.83 million), representing 3.9% of the circulating supply.　　

2023-11-13Deep Dive

Standard Chartered's Investment Arm Teams Up with SBI Holdings for $100M Crypto Startup Investment

Standard Chartereds investment arm, SC Ventures, has partnered with the Japanese financial giant SBI Holdings to establish a $100 million cryptocurrency fund in the United Arab Emirates.　　Announced on Thursday, the two companies are creating this fund as a joint venture to invest in cryptocurrency startups in areas such as decentralized finance, tokenization, infrastructure, payments, and the metaverse. The fund aims to invest globally across various funding rounds, from seed to Series C. (The Block)　　Prior news revealed that the Japanese financial powerhouse SBI Holdings plans to operate a fund for startups in Web3, AI, and the metaverse within the current year. Each investment is expected to range from several hundred million to several billion yen, with the fund likely targeting around 150 to 200 companies. The largest-scale fund is anticipated to reach 100 billion yen (approximately $663 million). Leading banks in Japan, including Sumitomo Mitsui Banking Corporation, Mizuho Bank, and others, have committed to investing over 50 billion yen in this fund.　　

2023-11-10Deep Dive

Fusionist Set to Launch Second Beta Test on November 22, Expanding to 3000 Participants

According to a recent report from the Japanese gaming magazine Famitsu, the blockchain game Fusionist is set to officially commence its second Beta test on November 22.　　This test is expected to accommodate up to 3000 participants, aiming to further enhance the games quality. It will take place on the Steam platform, and the 3000 test activation codes will be distributed through the Fusionist teams PvP web game, Expedition 3.0, and operational activities.　　In addition, through exclusive information from Odaily, its been revealed that the Fusionist team, responsible for developing the Endurance game, will soon disclose the development of its Layer 2 and AA wallet. Fusionist, in partnership with a South Korean gaming company, will be launching new gaming products on the Endurance ecosystem, aiming to establish a more comprehensive Endurance ecosystem.　　In June of this year, Fusionist completed a $6.6 million seed funding round, led by Binance Labs and FunPlus. Famitsu, the gaming magazine, has given Fusionists gameplay and visual quality exceptionally high ratings, with a 9/10 rating for its anticipated success.　　

2023-11-10Deep Dive

Expanding Sanctions on Hamas: U.S. Treasury Targets Cryptocurrency Use

Wally Adeyemo, the U.S. Deputy Secretary of the Treasury, stated on Thursday that, in the aftermath of Hamas attacks on Israel last month, the United States and its allies are set to enforce more sanctions in the coming days and weeks to prevent Hamas from accessing funds, including targeting their use of crypto assets.　　Adeyemo mentioned that while cryptocurrency isnt the primary source of funding for Hamas today, without proper safeguards and stringent adherence to anti-money laundering responsibilities in the cryptocurrency industry, the use of crypto by groups like Hamas to acquire funds could become more rampant over time.　　Additionally, Brian Nelson, the highest-ranking sanctions official at the U.S. Treasury Department, met with private sector entities, including cryptocurrency firms and payment processors on Thursday, to discuss techniques to combat Hamas fundraising methods.　　

2023-11-10Deep Dive

U.S. Treasury Targets Hamas Crypto Funding For Financial Disruption: Report

U.S. Deputy Treasury Secretary Wally Adeyemo recently announced that the United States, along with its allies, is planning to intensify its efforts to deny funds to Hamas, particularly by cracking down on Hamas crypto funding.　　In response to Hamass deadly attack on Israel in October, the U.S. government has already implemented two rounds of sanctions on the Palestinian militant group, as per Reuters.　　These sanctions have targeted Hamas‘s investment portfolio and included issuing an alert to financial institutions to counter Hamas financing. Senior officials have also been engaged in discussions regarding the group’s access to funds during trips abroad.　　To further counter Hamas‘s fundraising techniques, the Treasury’s top sanctions official, Brian Nelson, recently held a meeting with representatives from the private sector, including cryptocurrency firms and payment processors.U.S. Governments Efforts to Counter Hamas Crypto Funding　　The purpose of this meeting was to gain insights into the techniques employed by Hamas for raising and moving funds. The Treasury Department stated that Nelson has pledged to continue engaging with those who have taken proactive steps to investigate, identify, and disrupt Hamas-related financial activities.　　While crypto assets may not currently constitute the majority of Hamass assets, Adeyemo warned that if the crypto industry fails to implement necessary safeguards

2023-11-10Deep Dive

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