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The Argentinian superstar footballer playing for Paris Saint-Germain is joining Sorare NFT trading game as an investor and a brand ambassador.

With the help of Lionel Messi, Sorare hopes to set a new standard for connecting with fans and players as they work together to create new content and fan experiences.

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​​Tether, Circle and Coinbase deny having exposure to FTX and Alameda

Coinbase CEO Brian Armstrong said that the recent FTX and Alameda debacle was a result of risky practices such as the misuse of user funds.

Amid the liquidity crisis that fell over crypto exchange FTX and trading firm Alameda Research, some of the largest crypto companies face calls for transparency to let users know if there are risks. However, executives assured the community that they do not have exposure to either of the troubled firms.

In response to concerns brought up by the crypto community, Tether chief technology officer Paolo Ardoino clarified in a tweet that the stablecoin issuer has no exposure to either of the distressed firms. According to the Tether executive, Alameda has previously redeemed a lot of Tether Despite this, Ardoino highlighted that no credit exposure has matured.

Similarly, Circle CEO Jeremy Allaire also denied rumors of the firm having exposure to FTX and Alameda. The stablecoin executive said that their firm does not have any material exposure to both firms. Allaire highlighted that while both FTX and Alameda have been customers of Circle, the stablecoin issuer has not made loans, received FTX tokens as collateral or taken any positions on FTT.

Brian Armstrong, the CEO of crypto exchange Coinbase, also took this opportunity to assure its users that the firm has no material exposure to FTX or FTT. Armstrong also highlighted that the crypto exchange has no exposure to Alameda. The exchange executive also criticized the event as a result of risky business practices such as the misuse of customer funds and conflicts of interest.

Despite the assurances given by the executives, some community members are still dissatisfied and called for accountability. According to a Twitter user, no one would believe it anymore, as this was also what FTX CEO Sam-Bankman Fried said before the crisis. The community member said that there have to be consequences for these types of events. “You want credibility: Find SBF and put him in a hole,” they said.

As the FTX and Alameda crisis ensued, Binance CEO Changpeng Zhao promised to implement a way to provide full transparency of its reserves by using a Proof-of-Reserve mechanism using Merkle Trees. Apart from Zhao, other high-profile industry figures have also supported the use of Proof-of-Reserves to give consumers more confidence and establish trust within the industry.

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​​SEC issues subpoena to influencers promoting HEX, PulseChain and PulseX

The SEC issued subpoena as part of the investigation, which demanded the influencers in question to produce the required documents by Nov. 15, 2022.

Over several years, social media influencers have earned a bad rep among regulators for shilling risky and unvetted tokens to millions of investors. Pursuing the crackdown on such scenarios, the U.S. Securities and Exchange Commission (SEC) reportedly issued a subpoena to influencers who were found promoting cryptocurrencies such as HEX, PulseChain and PulseX.

Swedish researcher Eric Wall shared an official letter from the SEC dated Nov. 1, which was addressed to influencers. It read:

“We believe that you may possess documents and data that are relevant to an ongoing investigation being conducted by the staff of the United States Securities and Exchange Commission.”

The letter was accompanied by a subpoena that was issued as part of the investigation, which demanded the influencers in question to produce the required documents by Nov. 15, 2022.

"GUYS. IT’S HAPPENING. Hexicans influencers are getting subpoenad by the SEC over HEX, PulseChain and PulseX. The HEX information channels are filled with information about how to shred your digital evidence"
— Eric Wall X November 5, 2022

While the HEX community members retaliated against the finding as fake news, Wall quickly pointed out that HEX information channels on Discord and Telegram were filled with information on preserving anonymity on data and discussions.

He further challenged the Hexians those who claimed that the subpoena was fake, stating:

“Hexicans: time to post the unblurred versions here. If they’re fake—no harm right?”

On Nov. 3, Richard Heart, the founder of HEX, tweeted:
“Do you accept the good advice you're given? You think you do, but do you really? Are you using secret chats with self-destruct timers? Or are you a slow learner? Is it hard for you to click buttons?”

The above tweet supports Wall’s claims. However, Wall maintains that he has no respect for the SEC and that he’s just sharing the information.

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📈 DYDX Coin Leads Sunday Gainers, Crypto Total Market Cap Dips Below $840 BN

FTX exchange, specifically events around it, have been the biggest headline in the digital asset sector this past week. The exchange saw massive withdrawals earlier this week from users reacting to Binance’s announcement of dumping the FTT token. Further unraveling and knock-off goings-on sent the cryptocurrency market tumbling before Thursday’s October US CPI report brought a much-needed repose going into Friday. Things have worsened for FTX, at least its main international exchange entity. Various new outlets citing people in the know reported on Saturday (Nov 12) that the bankrupt exchange suffered a $400 million drain late on Friday.

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As we continue into this fiasco with FTX and Almaeda's possible Solana liquidation, Ethereum and Solana NFTs have fallen drastically in the past 24 hours.

Dune Analytics report shows that OpenSea's daily NFT trading volume on Solana has fallen from 4,900 SOL to just shy of 1,000 SOL which is about $55,000 in difference. The Solana-based leading NFT marketplace Magic Eden saw a drop from 153,000 SOL to 84,000 SOL, a difference of $1.1 million.

The situation isn't any different for Ethereum NFTs. Based on the data by Dune, OpenSea Ethereum NFTs trading volume dropped from about 6,000 ETH to 3,900 ETH, about $2.5 million in difference.

As Binance backed out of the FTX acquisition deal, the NFTs on the FTX's NFT marketplace may look to be on their way to liquidation as well.

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The total crypto, including NFT and metaverse trademark applications up to October 2022, adds up to 4,697, whereas 2021, the total was 3547.

However, with the crypto winter and US inflation hiking, the numbers have dropped compared to early months in 2022.

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📈 dYdX (DYDX), Moderate Volatility and Rising Sunday

dYdX (DYDX) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Sunday, the Derivatives has added 27.25% to $2.42. The Volatility Gauge analyzes this means that the rank represents its recent trends and isn't overly influenced by a sudden spike - or two - in volatility. DYDX's moderate volatility reading is coupled with a low reading on the Risk/Reward Gauge, meaning that the token has moderate price swings and is well protected from price manipulation. dYdX price is trading above resistance. With support near $1.74 and resistance near $2.07. This leaves dYdX out of range and potentially in a volatile position if the rally burns out.

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FTX's wallet that is holding 92-NFT collection featuring 31 rare Bored Ape Yacht Club and 26 Otherdeed NFTs is currently under Alameda Research's possession, which have traded BAYC NFTs as part of its NFT trading strategy.

And if FTX and Alameda's solvency crisis does go south, it will most likely be sold to cover the debt owed by FTX.

The founder of NFT valuation site DeepNFTValue, the collection holds an estimated value of between 4,000 and 5,000 ETH, roughly $4.7 million to $5.8 million).

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💰 Uniswap Overtakes Coinbase as Second-Largest Exchange Trading Ethereum Today

Traders
are flocking to decentralized exchanges (DEXs) in the wake of FTX’s sudden, catastrophic implosion. One DEX, in particular, has risen overnight to become the world’s second-largest venue for trading Ethereum: Uniswap. Uniswap inventor Hayden Adams shared the news on Twitter today, citing analysis by Nansen CEO Alex Svanevik. DEXs let customers trade crypto while retaining full control over their funds, unlike centralized platforms, providing a greater level of protection against withdrawal freezes or network outages. At the time of tweeting, Uniswap had hosted north of $1 billion in Ethereum trades in the last 24 hours, nearly double the volume of Coinbase, the second-largest centralized exchange (CEX) in the world by total trading volume.

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Binance and Cristiano Ronaldo have teamed up for an NFT collection.

“My relationship with the fans is very important to me, so the idea of bringing unprecedented experiences and access through this NFT platform is something that I wanted to be a part of." - Cristiano

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🪙 FTX hacker begins possible Pump & Dump scam as troll messages & cryptic tokens sent to Uniswap

The FTX Hacker address — 0x59AB…fd32b — is sending cryptic tokens, including one labeled “WHAT HAPPENED” to addresses across the blockchain, including exchanges, Vitalik, and Uniswap.A deeper analysis of the on-chain transactions by CryptoSlate revealed the messages have been going on for multiple days using newly created tokens such as “WHAT HAPPENED,” “CRO NEXT,” and “FTX SUCKS.”The image below showcases the token, “WHAT HAPPENED,” which was created at 9.40 AM GMT and minted directly to the FTX Hacker’s address with a supply of 1 billion tokens. Within 2 minutes, 90% of the tokens were sent to the Uniswap V2 contract, with many others distributed among other addresses linked to the Hacker.

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Famous pop star Justin Bieber purchased his Bored Ape NFT #3001 in January for 500 ETH, equivalent to $1.3 million.

Today its only worth about $69,000, or 59.16 ETH representing a loss of over 90% of its original value.

Data from NFT price floor shows that the collection's floor price has fallen to 58.2 ETH, reflecting the recent events in the crypto.

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🏘 Spitfire customers able to view homes in the metaverse

Spitfire
Homes has launched a show home and customer suite in the metaverse. Using virtual reality technology, Spitfire has developed a concept that enables customers to experience an immersive tour of Spitfire’s new house-type range before it has even been built.

Customers will be able to see Spitfire’s latest off-plan property Dovecliff, a new three-bedroom detached property led by a Spitfire Homes representative. Mark Swaddle, senior marketing manager at Spitfire Homes said: “At Spitfire Homes, we like to think differently about how we can engage with our customers in new and exciting ways. We understand that it can be hard to visualise new homes off-plan, and harnessing the metaverse.

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Harmony POS blockchain has partnered with Game Space to transform GameFi by helping Web2 games to easily transition into Web3, reducing the time and cost of on-chain development.

Game Space will provide embedded SDK allowing Web2 gaming companies to embed an NFT marketplace and token wallet directly into their game.

Both Harmony and Game Space will continue to promote GameFi and NFT projects to boost Web3 adoption.

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2024/10/01 04:49:06
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