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International Organization of Securities Commissions (IOSCO) stated in its 2024 strategy that the organization is shifting its focus to tokenization and will prioritize tokenization use cases specific to securities markets and distributed ledger technology. IOSCO aims to reach a consensus among its members on the adoption and current use cases of tokenization of securities market assets and analyze whether further policy direction is needed.
Cryptocurrencies have become a top priority for IOSCO. The organization plans to develop an assessment method in the second half of this year and update its 2020 report on investor education for retail investors in cryptocurrency assets. According to the new strategy, the International Organization of Securities Commissions also plans to explore some of the challenges brought about by artificial intelligence.
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In the 8th week since the launch of Bitcoin spot ETFs, the top four ETFs have increased their holdings as follows:
BlackRock's iShares Bitcoin ETF (IBIT) increased its holdings by 34,270 BTC;
Fidelity's FBTC increased its holdings by 12,243 BTC;
ARK 21Shares ARKB increased its holdings by 3,922 BTC;
Bitwise's BITB increased its holdings by 2,192 BTC.
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EigenLabs developer kydo.eth revealed on X that the Blast ecosystem lending project Pac Finance suddenly modified the LTV (loan-to-value ratio) parameters of the ezETH pool, resulting in a liquidation of $24 million.
Blast block browser data shows that the Pac Finance developer wallet called a function on its PoolConfigurator-Proxy contract at 1:06 a.m. UTC on April 11, setting the LTV of ezETH to 60%. #feedfeverchallenge

Meme project LADYS posted on the X platform that due to the congestion of the Solana network, the LADYF claim portal was delayed. Its team is actively working to resolve this issue. In order to cope with the delay, the vesting time for eligible pre-sale holders will be shortened from 88 days to 80 days, and will be linearly vested according to each Solana blockchain. #feedfeverchallenge

IntoTheBlock posted on the X platform that according to data, $4 billion worth of ETH was withdrawn from exchanges in the first quarter of 2024, indicating that holders are accumulating ETH in large quantities. #feedfeverchallenge

Today, institutional holders of Bitcoin who want to earn a yield on their assets through commonly used DeFi protocols can only do so at scale by sending it to BitGo in exchange for wrapped Bitcoin (wBTC). DLC.Link's new trust-minimized way to wrap Bitcoin, launched today, promises to be a viable alternative. The "DLC" in the name stands for Discreet Log Contract, which pre-configures the conditions under which locked Bitcoin (BTC) can be transferred, meaning the owner retains full ownership of their coins on the Bitcoin network. #feedfeverchallenge

Crypto always have some trends. From Web3 trends to memecoins if you Failed to adapt the narrative you'll be in downside. The Web3 also got significant growth in some years. Even now in mainstream media there're shows hosted for Web3 discussion. Here are some current crypto trends and Web3 info

1. Increased Institutional Adoption: Institutional investors have been increasingly showing interest in cryptocurrencies, with some of the world's largest companies and financial institutions investing in Bitcoin and other digital assets.

2. The Rise of Decentralized Finance (DeFi): DeFi is an ecosystem of decentralized financial applications built on top of blockchain technology, enabling peer-to-peer financial transactions without intermediaries. It has been one of the most significant trends in the crypto industry.

3. Non-Fungible Tokens (NFTs): NFTs are digital assets that represent ownership of unique items such as art, music, and other collectibles. The market for NFTs has exploded in 2021, with some sales reaching tens of millions of dollars.

4. Increased Focus on Privacy: Privacy has become an important issue in the crypto industry, with many users seeking ways to transact anonymously. Several new privacy-focused cryptocurrencies and technologies have emerged to meet this demand.

5. Increased Adoption of Cryptocurrencies in Developing Countries: Cryptocurrencies have been gaining popularity in developing countries, where they are seen as an alternative to traditional banking systems that may be unreliable or inaccessible.

6. Memecoins : Memecoins are one of the trending thing in Crypto nowdays. Doge, Shiba, Floki some of names. First glance these are merely some stupid memecoins for fun but these got some of the largest  community. And top 50 in marketcap.

Are you tired of the same old internet experience? Well, get ready for something new and exciting! The Web3 industry is here and it's set to revolutionize the way we interact online.

What is Web3? 🤔

Web3 is the next generation of the internet that's built on top of blockchain technology. It's designed to be decentralized, meaning it doesn't rely on a single central authority or server. Instead, Web3 allows users to interact directly with each other, creating a more open and transparent internet.

What are some examples of Web3 applications? 🌟

There are already a number of Web3 applications that are gaining popularity. Here are a few examples:

🔹 Decentralized finance (DeFi) platforms such as Uniswap and Aave that allow users to lend, borrow, and trade cryptocurrencies without intermediaries.

🔹 Non-fungible tokens (NFTs) that allow creators to sell their unique digital content, such as artwork or music, as one-of-a-kind items that cannot be replicated.

🔹 Decentralized social media platforms such as Steemit and Minds that allow users to control their own data and content, rather than having it controlled by a single central authority.

Why is Web3 important for the future of the internet? 🌅

Web3 has the potential to transform the internet from a centralized, profit-driven system to a more decentralized, user-driven system. By allowing users to control their own data and content, Web3 can increase privacy, security, and transparency. It can also create more opportunities for innovation and entrepreneurship, as well as promote more equitable distribution of wealth and power.

What are some challenges that Web3 faces? 🤔

Like any new technology, Web3 faces its own set of challenges. Some of these challenges include:

🔹 Scalability: Currently, blockchain technology is still limited in terms of its processing power and speed, which can hinder the growth of Web3 applications.

🔹 Usability: Web3 applications can be difficult for the average user to navigate and understand, which can limit their adoption.

🔹 Regulation: As Web3 applications become more popular, governments and regulatory bodies may seek to impose more regulations, which could hinder innovation and development.

👋 Thank you for reading, and let's continue to explore the potential of Crypto together! This article is a part of #feedfeverchallenge so support my efforts by like & sharing this article and put your inputs in comments.

♥️ If you stuck in trading, check out our posts for more. Our Technical Analysis will help you to win. For more head up to our profile. Till then #trade_safe friends.

🪐 Ciatations

ConsenSys. (2021). What is Web3? A Beginner's Guide to the Decentralized Web.

Retrieved from https://consensys.net/blog/blockchain-explained/what-is-web3-a-beginners-guide-to-the-decentralized-web/

Hu, K. (2021). Web3: The Future of the Internet?

Retrieved from https://www.bbva.com/en/web3-the-future-of-the-internet/

Medium. (2021). What is Web3? A Simple Explanation.

Retrieved from   https://medium.com/coinmonks/what-is-web3-a-simple-explanation-48c0dbf33dda

A Manhattan jury in New York has found cryptocurrency trader Avi Eisenberg guilty of fraud and market manipulation for stealing $110 million from decentralized finance protocol Mango Markets in October 2022. Eisenberg was arrested in Puerto Rico in December 2022 and charged with commodities fraud, commodities manipulation, and wire fraud. New York District Court Judge Arun Subramanian will sentence him on July 29. Eisenberg faces up to 20 years in federal prison for his crimes. #feedfeverchallenge

Robert Palmquist stated in a document submitted to the Western District Court of Seattle, Washington on April 23 that if CZ is sentenced to prison, he may serve his sentence in the same prison as "crypto-anarchist" Jim Bell.
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Funkir x Saraba Seishun no Hikari Collaboration Event Offers Limited Characters and Luxury Gifts The collaboration event will be held by gumi on April 26, 2024, and will feature characters created in collaboration with comedian Saraba Seishun no Hikari, limited units can be won through gacha, and there will also be ranking events to win luxury gifts. #feedfeverchallenge

Market information shows that as Biden announced his withdrawal from the election and will support Vice President Harris's campaign, Biden concept Meme coins fell across the board, including:
-JILLBODEN is currently trading at $0.00001776, down 76.1% in 24 hours;
-BODEN is currently trading at $0.009401, down 59.59% in 24 hours;
-HUNTBODEN is currently trading at $0.0001059, down 29.04% in 24 hours.
In addition, the floor price of Solana's THE JEO BODENS NFT series dropped to 0.050 SOL, a 24-hour drop of 68.02%. #feedfeverchallenge

Cryptocurrencies, blockchain technology, and decentralized finance solutions have the potential to profoundly alter everyone's daily lives in a variety of ways. Here are a few examples:

Payment systems: Cryptocurrencies such as Bitcoin, Ethereum, and others are becoming more widely recognized as payment mechanisms. It's feasible that we'll witness a shift away from traditional payment methods like credit cards and toward digital currencies in the future. This might make payments faster, cheaper, and more secure.

Banking: Decentralized finance solutions like decentralized exchanges and lending platforms have the potential to disrupt traditional banking. With these platforms, individuals can earn interest on their crypto holdings or borrow and lend funds without the need for a traditional bank. This could increase financial inclusion and reduce the power of centralized financial institutions.

Supply chain management: Blockchain technology can be used to track products and ensure their authenticity. This could help to prevent counterfeit goods from entering the market and improve the transparency of supply chains.

Voting: Secure and open voting systems can be built using blockchain technology. This might increase election integrity and make it simpler for citizens to take part in the political process.

Digital identity: Decentralized digital identification systems can be developed using blockchain technology. This may increase people's control over their personal data and lower the possibility of identity theft.

Overall, cryptocurrencies, blockchain technology, and decentralized finance solutions have the potential to transform many aspects of our daily lives. We may anticipate even more innovation and disruption in the years to come as these technologies advance and are more extensively used.

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According to official data, Binance Launchpool's latest project, CATI Mining, has currently locked up more than 470,000 BNB and 198 million FDUSD, with more than 34,000 participants.
This mining will last for 4 days and is currently in the warm-up phase. It will officially start at 8:00 on September 16. #feedfeverchallenge

It's Friday! In today's Daily, the Ethereum Foundation is set to release a financial report amid community criticism of its spending, Japan's three megabanks plan a stablecoin trial, U.S. spot Bitcoin ETFs continue to bleed and more.
Meanwhile, former SEC Chair Jay Clayton says the crypto industry is "pushing U.S. market infrastructure forward" on the latest episode of The Scoop podcast.
Let's get started.
Ethereum Foundation to release financial report amid community criticism of its spending
The Ethereum Foundation plans to release a financial report "relatively soon" to address community concerns surrounding its spending, according to researcher Justin Drake.
In an AMA session on the r/ethereum subreddit, Drake said that, in his "limited personal understanding," the foundation spends around $100 million per year, currently holding about $650 million in its main Ethereum wallet.
Depending on ether prices, that provides the Ethereum Foundation with a financial runway of roughly 10 years, Drake added.
"The current approximate budget strategy is to spend 15% of our remaining money every year," Ethereum co-founder Vitalik Buterin said in a separate comment on the subreddit. "This implies a default path where the EF lasts forever but gets smaller and smaller (as a share of the ecosystem) over time."
Community members have heavily criticized the Ethereum Foundation regarding a series of unexplained large ether transfers in recent weeks, urging it to provide greater transparency.
Last month, blockchain analytics provider Lookonchain reported that the foundation transferred 35,000 ETH ($94 million) to the Kraken crypto exchange.
The Ethereum Foundation's budget management involves grants and salaries, with gradual and planned sales of ether going forward, according to Executive Director Aya Miyaguchi.
Japan's megabanks plan stablecoin trial
Japan's three major banks, MUFG, SMBC and Mizuho, are set to test a cross-border stablecoin transfer platform dubbed "Project Pax," with participation from other global banks anticipated.
The pilot, run by crypto firms, including Progmat, Datachain and TOKI, aims to provide faster international settlements for enterprises using blockchain technology.
Project Pax will leverage the stablecoins issued via Progmat and use SWIFT's existing API framework for banks to instruct Progmat to settle on blockchain networks and address compliance challenges.
The project aims to commercialize its platform by 2025, with stablecoins denominated in JPY, USD and EUR for domestic and international use.
US spot Bitcoin ETFs continue to bleed
RELATED INDICES
U.S. spot Bitcoin ETFs saw $211.1 million in net outflows on Thursday, marking the seventh consecutive day of negative flows totaling over $1 billion.
Fidelity's FBTC recorded the largest net outflows among the funds with $149.5 million, followed by Bitwise's BITB with $30 million.
Both Grayscale's GBTC and BTC Mini Trust products also witnessed net outflows of $23.2 million and $8.4 million, respectively, with the remaining ETFs experiencing zero flows.
Meanwhile, spot Ethereum ETFs saw relatively minor movements on Thursday, with Grayscale's ETHE showing the only net outflows of $7.4 million, nearly offset by its ETH Mini Trust, which reported the only net inflows of $7.2 million.
Spot Ethereum ETF issuer VanEck also announced plans to close its Ethereum futures ETF, EFUT, on Thursday.
Crypto micropayments are key to avoiding AI financial economy bottleneck
Bernstein analyst Gautam Chhugani argues that crypto micropayments are required to avoid financial bottlenecks in the emerging AI economy.
The traditional financial system's identity requirements and inability to handle micropayments make it unsuitable for AI consumption patterns compared to crypto solutions for frictionless payments, such as streaming money for data or content, he said.
Chhugani sees stablecoins as the greatest opportunity for enabling permissionless AI economies, offering fast, global digital payments for settling machine-to-machine transactions.
The integration of crypto wallets into AI systems could allow AI agents to manage financial transactions autonomously, unlocking new commercial applications for stablecoins, he added.
Telegram CEO Pavel Durov says he's prepared to 'leave markets that aren’t compatible' after France arrest
Telegram CEO Pavel Durov said the platform is prepared to leave markets incompatible with the popular messaging app's principles, emphasizing the company's commitment to privacy over profits.
Durov criticized his recent arrest in France, where he was indicted on charges related to cybercrime activities allegedly facilitated using the platform's cryptography tools and services.
Telegram, closely linked with TON's blockchain, generates significant revenue from crypto-related activities and holds $400 million in digital assets as of 2023.
Looking ahead to next week
U.S. CPI inflation data and UK GDP figures are released on Wednesday. The ECB's latest interest rate decision, U.S. PPI numbers and U.S. jobless claims are due on Thursday.
Korea Blockchain Week and ETH Warsaw 2024 conclude over the weekend as ETHSafari gets underway in Kenya.
Never miss a beat with The Block's daily digest of the most influential events happening across the digital asset ecosystem.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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In June, the SEC's decision to dismiss charges against Ethereum marked a significant step towards the platform's growth and acceptance in the financial industry. The SEC had accused Ethereum of selling unregistered stocks and not following certain regulations, but supporters of the platform argued that its decentralized nature did not classify it as an investment contract or security.
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