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Former FTX cryptocurrency exchange ambassadors in various African regions are now grappling with severe backlash and personal safety threats. These ambassadors, mainly students, were once part of a program aimed at expanding FTX's presence in Africa, but they now face a grim situation. FTX, led by Sam Bankman-Fried, launched an ambitious ambassador program targeting university students in Africa. These young individuals, enticed by the potential of the crypto world and the promise of financial success, worked to recruit friends and family onto the FTX platform. Operating as "Brand Ambassadors" for about two years, they organized meetups and promotional events on campuses to spread the word about FTX. Their compensation came from a 30% share of transaction fees from referred users and performance-based monthly incentives. However, many of these students lacked experience in crypto trading and were unaware of the financial risks involved. When FTX experienced a collapse l

In a world where it's a rare occurrence to find complete agreement with others, the subtle distinctions that set individuals apart often give rise to intriguing discussions. Andrew Tate, a figure well-known for his unconventional views, presents a compelling perspective on Bitcoin that merits exploration. Andrew Tate, renowned for his distinctive opinions, offers a viewpoint on Bitcoin that warrants attention. While the debate around his alleged behavior may persist, his insights on the importance of personal financial control resonate with many. Tate recounts a personal experience from approximately four years ago when he had to navigate the intricate process of transferring a substantial sum, $900,000, for legitimate purposes – the acquisition of a corporate asset. The paperwork, legal intricacies, and banking hurdles turned the process into a travel list nightmare, prompting him to question the security of leaving substantial sums in a traditional bank. When faced with advers

“The Unibot exploit underscores the ever-present vulnerabilities in the crypto space, even among tools designed to help traders.” Unibot, a popular Telegram bot specialising in rapid-fire trades on the decentralised Uniswap exchange, fell victim to a contract exploit. Imagine if you had a vault and someone managed to find the blueprint to its security mechanisms. The perpetrator then used that knowledge to unlock the vault without anyone noticing. That's akin to what happened here. An exploit is a loophole in a contract's code that a hacker can manipulate to steal assets. Unibot broke its silence about the hack, stating, "We experienced a token approval exploit from our new router and have paused our router to contain the issue." In light of this breach, Scopescan, a blockchain security firm, issued warnings to Unibot users. They recommended revoking any authorisations linked to the compromised contract and swiftly moving funds to a new digital wallet. To put it sim

The cryptocurrency market recently saw a remarkable surge in investments, particularly in exchange-traded products (ETPs), marking their most substantial weekly influx in over a year. According to data presented in a report by CoinShares on October 30, a notable $326 million flowed into the crypto ETP space for the week ending on October 27. This marked a substantial increase from the previous week's $66 million, reflecting heightened investor interest and financial commitment to the crypto sector. Crypto ETPs function as investment funds designed to replicate the price movements of major cryptocurrencies like Bitcoin (BTC) and Ether (ETH). Investors are increasingly drawn to these funds because they provide exposure to crypto prices without requiring them to hold the digital assets directly. This approach allows for the inclusion of crypto investments in traditional brokerage accounts, seamlessly integrating with existing investment portfolios. In the context of ETPs, the term &

Note: Views presented in this article represents the perspective and opinions of the author and do not necessarily represent Coinlive or of its official policies. Artificial Intelligence (AI) has rapidly become an integral part of our lives, from virtual assistants on our smartphones to autonomous vehicles navigating our streets. It is clear that AI has the potential to revolutionise countless industries, but with great power comes great responsibility (a timeless and apt quote from Spiderman that I cannot get out of my head). The rapid advancement of AI technology has raised critical questions about its safety , ethical implications, and the need for international regulation. AI safety standards are of paramount importance. Without them, AI can pose significant dangers. Think Terminator-goes-rogue kind of scenario. The Biden administration recently unveiled a comprehensive executive order that ushers in a new era for artificial intelligence (AI). President Joe Biden explained at

Two weeks ago, the French National Assembly passed the Sorare Law, which introduces the first dedicated regulatory framework for video games incorporating Non-Fungible Tokens (NFTs) and crypto-powered monetisation schemes. The legislative move addresses the need to distinguish these games from traditional gambling activities, acknowledging the unique characteristics of crypto assets.The law aims to establish a regulatory framework for games with crypto elements, distinguishing them from traditional gambling activities. The law received substantial support in the National Assembly, with 437 members voting in favour and 77 against its adoption. The Jonum regime seeks to strike a balance between encouraging innovation in French startups and ensuring user protection. The Sorare Law, part of the broader Digital Space Regulation Law (SREN), defines a new category of games referred to as "Jonum" or "games with monetizable digital objects." This nomenclature is a key aspe

Established in 2009, BRICS refers to the coalition of five emerging national economies, Brazil, Russia, India, China, and South Africa. China's role in the BRICS alliance has been pivotal, with the nation's economic growth and global influence shaping the collective trajectory of the coalition. China has actively supported initiatives aimed at reducing reliance on the U.S. dollar within the BRICS economies. Digital Yuan Recent developments in the digital yuan have enabled the alliance and its constituent members to contemplate a future with reduced dependence on the U.S. dollar, signalling a shift in global economic dynamics. Earlier this month, Petrochina, a leading Asian oil and gas corporation, declared the acquisition of one million barrels of crude oil using the digital yuan. This achievement, combined with the launch of BRICS Pay , has set the stage for a digitalised future for the coalition, suggesting a potential decrease in dependence on individual currencies. The di

The world of cryptocurrencies witnesses a resurgence as memecoins regain prominence alongside the broader market's upward trajectory, primarily fueled by the anticipation of Bitcoin exchange-traded funds (ETFs). Notably, FLOKI and PEPE have surged, outperforming major currencies like Ethereum . In recent days, memecoins have made significant strides in the cryptocurrency landscape, particularly FLOKI and PEPE . Surprisingly, they have outshone established cryptocurrencies, including Ethereum. However, these remarkable memecoin price surges are not directly linked to any specific events within their respective networks but rather a reflection of the mounting interest in Bitcoin spot ETFs. The ongoing surge in investor appetite for Bitcoin ETFs is underpinned by potential SEC approval, following amendments to ETF applications by major players in the crypto industry. This growing enthusiasm for Bitcoin ETFs coincides with a renewed frenzy surrounding memecoins. One highly-anticipate

The prospect of a US spot Bitcoin Exchange-Traded Fund (ETF) has sent ripples of optimism throughout the cryptocurrency industry. It is seen as a means to enhance Bitcoin's credibility in the investment sphere, spark institutional interest, and potentially drive Bitcoin's price to new heights. However, this enthusiasm is not limited to the broader crypto community. Even Bitcoin mining firms, which operate substantial computer networks to secure the Bitcoin network and generate new coins, are looking forward to the potential benefits. Isaac Holyoak , Chief Communications Officer of CleanSpark , voiced his optimism, saying that "we are optimistic about the ETFs, and there are indications it will be positive." He also noted that mining stocks tend to align with Bitcoin's upward momentum during bullish market phases. While Bitcoin's price has surged by over 100% this year, publicly traded mining stocks have outperformed it , providing investors with a regulate

In an endeavour to enhance security, BNB Chain has unveiled a secure multi-signature wallet service, known as BNB SafeWallet, established on the Gnosis Safe protocol. This service is now accessible on both the Binance Smart Chain (BSC) and opBNB networks. The BNB Chain has recently launched a multi-signature wallet service, named BNB SafeWallet, which is constructed on the Gnosis Safe protocol. This smart contract wallet is well-regarded for its top-tier security features, robust access control, and intricate execution logic. It stands out due to its capability to allow one or more owners to control multiple wallets, thus adding an extra layer of security. BNB Chain's Safe multi-signature wallet service offers secure storage of digital assets, featuring user-centric security measures. Users can tailor their security preferences by selecting owner accounts and specifying the minimum number of confirmations required for transactions. To commence using the BNB Chain multi-signature

“The Axie Infinity resurgence seems less like riding Bitcoin ETF coattails and more like a fundamental comeback, underpinned by actual network activity and user engagement.” Axie Infinity's (AXS) valuation took a nosedive, hitting a two-year low at $4.20 in early September. Yet, recent data signals a potential resurgence for both the game and its native token. Consider this: In the last 10 days of October, the price of AXS escalated by 43%. This isn't merely a ripple effect of the broader crypto rally, mind you. Let's delve into "active addresses" for a moment. Think of them as bustling train stations where all the transactions happen. This metric has shown a steady uptick, indicating more users are hopping aboard the Axie Infinity train. Image: The Gamer From October 15 to October 29, the number of active addresses surged, reaching a 100-day high. This metric essentially serves as the pulse of a blockchain network, telling us how many unique wallets are partici

The cryptocurrency industry, while still in its early stages, is no stranger to spirited debates and differing perspectives, often leading to passionate controversies. The latest crypto disputes have revolved around a back-and-forth exchange between Charles Hoskinson, the founder of Cardano , and certain members of the XRP community. Within this context, an older video has resurfaced, featuring journalist Laura Shin who claimed to possess potentially damaging information regarding Charles. However, the Cardano founder has been swift in responding to these allegations. XRP enthusiast Mr Huber recently shared a 2022 video of journalist Laura Shin on the social media platform X (formerly known as Twitter) , where she discussed a series of topics that might be perceived as conspiracy theories. In the video, Laura suggested that Charles had presented himself as Satoshi Nakamoto, the anonymous creator of Bitcoin . She also alleged that early members of the Ethereum team had compiled a doss

South Korea’s crypto crimes unit has reportedly been ‘overloaded’ with cases within a year of being launched. The unit, which operates as part of the Seoul Southern District Prosecutors’ Office, is tasked with handling high level crypto-related crimes. The first case that the unit handled was an investigation into Terraform Labs and its top executives, including CEO and founder Do Kwon, who has since been arrested. Other cases that the unit is currently handling include investigations into WeMade and Wemix coin, investigations into accusations of embezzlement with Kakao, and the Coin Gate political scandal, which involves suspected insider trading among politicians. However, legal experts in Korea have raised concerns that the unit is ‘suffering from an overload of work and understaffing problems as crypto-related crime cases increase’. Legal community officials claim that the unit requires more support, with one former prosecutor saying that ‘the unit is the only public authority th

The Monetary Authority of Singapore (MAS) has announced its partnership with global financial regulatory authorities, including the Financial Services Agency of Japan (FSA), the Swiss Financial Market Supervisory Authority (FINMA), and the United Kingdom’s Financial Conduct Authority (FCA) . These collaborative efforts will aim to tackle potential risks and deficiencies in current regulations related to tokenised solutions. Deputy Managing Director of Markets and Development at MAS, Leong Sing Chiong, stressed that the international collaboration with FSA, FCA and FINMA highlights a shared enthusiasm among regulators to understand the opportunities and risks associated with digital asset innovations. This move builds on Singapore's continued dedication to asset tokenisation, demonstrated through Project Guardian's launch in 2022 Project Guardian Singapore has expressed its ambition to become a digital asset hub. Ravi Menon, Managing Director of Central Bank of Monetary of Sin

A group of five foreign visitors to Singapore attending the TOKEN2049 cryptocurrency conference found themselves in a baffling situation when they were charged S$100 for a 3km ride from the Sands Expo & Convention Centre to Park Royal Collection Pickering in Chinatown. The incident, captured on video and posted on YouTube, has sparked discussions about the fairness of the fare. During the TOKEN2049 event held on September 18 and 19, 2023, the group, including a cameraman, was seen attempting to secure transportation from the event venue to their destination. Highlights of TOKEN2049 Singapore 2023 When they approached a seven-seater limousine taxi parked in the taxi zone with the "Taxi" sign, the driver initially quoted them a steep S$100 for the short ride, citing traffic congestion. Dissuaded by the high cost, one member of the group suggested booking a private hire vehicle, and they quickly secured one for a fixed fare of S$20. However, due to a misunderstanding rega

Xumm, the self-custodial wallet for the XRP ledger, announced its successful partnership with Uphold to introduce a 0% transaction fee event tailored for Topper-related transactions. The event kicked off on 30 October and will run until 31 October, within the PST time zone. This initiative provides a two-day window of zero transaction fees for Topper on-ramps, as well as fee-free XRP on-ramping through Topper. Miguel Vias, head of XRP markets at Ripple expressed: "The XRP ecosystem is diversifying and growing rapidly. The listing of XRP on Uphold, a strong retail platform that offers customers easy access to digital assets, underscores the significant increase in interest for XRP." Uphold Inc, a prominent global digital money platform, has made history by becoming the first and only platform to offer widespread access to XRP in the United States (US). This development allows Uphold consumers to seamlessly purchase and sell XRP, which holds the distinction of being the thi

The Monetary Authority of Singapore (MAS) has partnered with the Financial Services Agency of Japan (FSA), the Swiss Financial Market Supervisory Authority (FINMA), and the United Kingdom’s Financial Conduct Authority (FCA) to promote joint digital asset pilots. This collaboration builds upon Singapore’s ongoing asset tokenization project, Project Guardian, initiated in 2022. Under Project Guardian, MAS collaborated with 15 financial institutions to conduct pilots on asset tokenization, demonstrating significant potential for transaction efficiency. MAS officials emphasised the need for closer cross-border collaboration as the pilots grow in scale and sophistication. To address this, MAS has established a Project Guardian policymaker group comprising the FSA, FCA, and FINMA. The collaborative group aims to initiate policy and accounting discussions, identify potential risks and legal gaps related to digital assets and tokenized solutions, and explore the development of common standar

Co-founder of Terraform Labs, Do Kwon, has taken a legal step by petitioning a United States (US) district judge to dismiss a securities and fraud lawsuit filed by the federal securities regulator. His defence argues that the Securities and Exchange Commission (SEC) has failed to provide sufficient evidence to substantiate their allegations of wrongdoing. In a filling submitted to the New York District Court on 27 October, legal representatives for Do Kwon and Terraform Labs presented a counterargument. They contended that the cryptocurrencies in question, including Terra Luna Classic (LUNC), TerraClassicUSD (USTC), Mirror Protocol (MIR), and its Mirrored Assets (mAssets) designed to mirror stocks on-chain, do not fall under the classification of securities as claimed by the SEC. The lawyers wrote: “After two years of investigation, the completion of a discovery period that resulted in the taking of more than 20 depositions, and the exchange of over two million pages of documents a

In a visionary leap towards the future, the prominent blockchain gaming powerhouse, Animoca Brands Corporation Limited , has joined hands with NEOM Company in a monumental $50 million partnership , propelling the evolution of Web3 technology . This strategic alliance, celebrated widely across tech spheres, signifies a crucial milestone in the digital landscape. https://twitter.com/animocabrands/status/1718951030728331352?ref_src=twsrc%5Etfw The collaboration unfolds with the NEOM Investment Fund's investment of $50 million in Animoca Brands . This substantial sum is divided strategically, with $25 million allocated through convertible notes and an equal amount dedicated to the direct purchase of company shares. This financial infusion stands as a testament to the confidence and belief NEOM places in Animoca Brands' expertise and innovative prowess. The core objective of this groundbreaking partnership revolves around enhancing Web3 enterprise services with a

In a cosmic event set to redefine the crypto universe, the much-anticipated Celestia mainnet launch is on the horizon, promising a celestial experience for crypto enthusiasts. The project, adorned with innovation and promise, is all set to introduce its native token, TIA , for trading on various exchanges, heralding a new era of possibilities. The countdown has begun, with KuCoin and Bybit poised to initiate trading of TIA against USDT at the stroke of 10 a.m. EST. Meanwhile, crypto juggernaut Binance joins the celestial dance, planning to list TIA and commence trading around 12 p.m. EST. Binance’s involvement adds a powerful cosmic force, emphasizing the project’s potential and drawing attention from across the crypto galaxy. https://twitter.com/binance/status/1718982971796168778?ref_src=twsrc%5Etfw The excitement doesn’t end there. In a gesture of cosmic generosity, the Celestia project is giving away 60 million TIA tokens to active users on Ethereum Layer 2s,

In a surprising turn of events, the Chicago Mercantile Exchange (CME) is making significant waves in the world of cryptocurrency, particularly in Bitcoin futures . Recent data from Coinglass reveals a remarkable rise, propelling CME from fourth place to the coveted second position within a week. The notional open interest (OI) for Bitcoin futures at CME now stands at an impressive $3.54 billion, showcasing a remarkable climb reminiscent of the early days of the 2020-21 bull market. Despite this remarkable feat, the offshore unregulated exchange Binance still maintains its stronghold at the top, boasting a staggering $3.83 billion in open interest. However, CME's rise is nothing short of impressive, standing at 8% below Binance. What's catching the eye of experts is the fact that, for the first time, open interest in CME’s cash-settled futures contracts has surpassed 100,000 BTC. Simultaneously, CME's share in the Bitcoin futures market has soared to an unprecede

In a strategic maneuver aimed at reshaping the landscape of digital currencies, Polkadot is making waves with its groundbreaking proposal : burning revenues generated from the sales of unused Coretime . This audacious move, outlined in a new Request for Comments (RFC) titled “Burn Coretime Revenue,” signifies a pivotal shift in Polkadot's approach to the DOT token . Traditionally, DOT has been an inflationary utility token, gradually minted over time. However, this new proposal seeks to introduce a deflationary mechanism, countering the existing inflationary pressures that have defined DOT's journey so far. The crux of the matter lies in balancing inflation and making DOT more enticing for long-term holders. The strategy is ingeniously simple: by burning Coretime sales revenue instead of channeling it into the Polkadot Treasury, a clear deflationary force is created. This means taking these funds out of circulation, thereby reducing the overall supply of DOT. This

In a significant stride toward financial clarity, the UK government has officially rolled out its comprehensive regulations governing the cryptoasset ecosystem . This much-anticipated move signals a new era for the industry, emphasizing the government's commitment to fostering a secure and regulated environment for digital currencies. Under these regulations, activities such as lending and trading within the crypto sphere will be brought under the purview of traditional financial oversight, falling directly under the watchful eye of the Financial Conduct Authority (FCA) . What's noteworthy is that this development aligns seamlessly with the vision outlined in the April 2022 policy spearheaded by Chancellor Rishi Sunak . Industry insiders and enthusiasts have eagerly awaited this announcement, having expressed concerns about the government's perceived sluggishness in addressing crypto-related matters. The community's collective sigh of relief is palpable, giv

In a groundbreaking move, the Monetary Authority of Singapore ( MAS ) has unveiled its strategic collaboration with Japan, Switzerland, and the United Kingdom. This collaborative initiative, focusing on digital asset pilots , marks a significant step towards revolutionizing the global financial landscape. https://twitter.com/MAS_sg/status/1718921610491777332?ref_src=twsrc%5Etfw Officially announced on October 30, MAS has partnered with Japan's Financial Services Agency ( FSA ), S witzerland's Financial Market Supervisory Authority ( FINMA ), and the United Kingdom's Financial Conduct Authority ( FCA ). Together, these regulatory powerhouses are spearheading efforts to test asset tokenization for fixed income, foreign exchange, and asset management products. Tokenization , the process of digitizing real-world assets using blockchain technology, has captured the attention of major financial institutions worldwide. Its potential to enhance the efficiency

In a recent announcement , OKX Wallet proudly declares its pioneering step into uncharted territories. OKX Wallet has now become one of the first multi-chain wallets to seamlessly integrate the Bitcoin testnet, marking a significant leap forward in the world of cryptocurrency experimentation and development. But what exactly is the Bitcoin testnet, you ask? It's a parallel universe, an alternative blockchain designed exclusively for testing new ideas and features within the realm of Bitcoin. Unlike the mainnet, this sandbox environment isn't linked to real-world transactions. The bitcoins on the testnet hold no tangible value. Instead, it serves as a playground for developers and individuals, offering them a risk-free space to tinker with Bitcoin-related projects. Why is this integration such a game-changer? For starters, it opens the door to a realm of possibilities for developers and enthusiasts alike. Imagine a space where you can experiment, innovate, and create

El Salvador's President Nayib Bukele has filed the necessary paperwork for re-election in the country's 2024 presidential election. The national election is scheduled for February 2024. Bukele, known otherwise by the moniker of the "Bitcoin President", garnered significant public backing during his ascent to power in 2019. His appointment marked the end of three decades of two-party rule dominated by the Nationalist Republican Alliance and the Farabundo Martí National Liberation Front (FMNLB). His political party, Neuva Ideas, enjoys overwhelming support. This research was done by a Salvadoran university, namely, Universidad Francisco Gavida (UFG) in conjunction with two other university-led organisations - Disruptiva, and Centro De Estudios Ciudadanos (Centre for Citizen Studies) The study indicates it has the backing of close to 70% of the country's voters, while its closest competitor only secured 4% of the total votes. Interestingly, the Salvadoran Preside