Welcome back to BitPinas Key Points: easily digestible news in concise formats for easy reading. Let’s check the latest crypto news stories in the last 24 hours.
Crypto Price Update
Feature News: Notcoin Update
Starting May 14, users will be unable to send Notcoin tokens to crypto exchanges until the coin’s listing on May 16, as announced by the Notcoin team.
The team advises users to initiate transfers to exchanges if they wish to start trading immediately upon listing. Notcoin is a Web3 gaming project within the Telegram messenger ecosystem, offering users the ability to earn coins through various activities.
Check out our article and guide on everything about Notcoin here.
Local News Updates
Superteam Philippines shared that 21 Pinoy-made projects qualified for the hackathon, 11 of which were among the shortlisted projects in the top 200.
While there were previous peso stablecoin initiatives through the years, the Coins.ph announcement raise the conversation about it at a higher level. Here’s an article with insights from key crypto personalities in the country.
Regulation
The Group of Central Bank Governors and Heads of Supervision (GHOS) has extended the deadline for implementing prudential standards regarding banks’ exposure to crypto-assets from January 2025 to January 1, 2026, aiming to establish a cohesive global regulatory framework and enhance financial stability.
The US Securities and Exchange Commission (SEC) remains firm against Coinbase’s call for an overhaul of crypto regulations, asserting that current laws are sufficient and necessary for industry integrity and investor protection. Despite this, Coinbase continues to advocate for a streamlined regulatory environment, highlighting a significant debate on the future of cryptocurrency governance.
Gov. Sarah Huckabee Sanders has signed two laws regulating cryptocurrency mining in Arkansas following complaints about noise, environmental impact, and foreign ownership. The laws mandate that crypto mines must comply with noise ordinances, maintain a 2,000-foot distance from residences, and avoid ownership by prohibited foreign parties, with civil penalties for non-compliance.
DeFi
Zest Protocol, a bitcoin lending startup, has secured $3.5 million in funding led by Tim Draper of Draper Associates. The platform enables direct, peer-to-peer Bitcoin transactions, which Zest noted eliminates traditional intermediaries and regulatory challenges from the SEC. Further, with backing from Binance Labs and Flow Traders, Zest plans to expand its platform, aiming to make Bitcoin a more versatile financial tool and promoting its use for generating passive income.
Israeli startup Kima is partnering with Mastercard’s FinSec Innovation Lab to integrate decentralized finance (DeFi) applications with traditional fiat systems, aiming to develop a ‘DeFi credit card.’ Funded by a grant from the Israel Innovation Authority, this project seeks to link bank accounts and credit cards to DeFi protocols.
Indian crypto exchange CoinDCX has expanded its Okto wallet into a comprehensive Okto ecosystem, aiming to provide users with a seamless Web3 mobile experience. The expansion includes the launch of a blockchain and the $OKTO token, alongside the introduction of a points program to incentivize on-chain transactions.
Web3 Gaming
OKX Ventures recently invested in Blade of God X, an action role-playing game featuring a “play-to-train” concept that allows gamers to steer an AI model’s training through gameplay. This approach merges advanced AI agents with blockchain technology, enabling players to train their AI agents while playing. However, details regarding the specific models being trained and how gameplay contributes to this training remain unclear.
Noteworthy
ZachXBT, a known crypto investigator, suggests that the Bahrain-based cryptocurrency exchange Rain was likely exploited for $14.8 million, with suspicious outflows detected from its BTC, ETH, SOL, and XRP wallets on April 29. Funds were reportedly swiftly moved to instant exchanges and converted into BTC and ETH.
US President Joe Biden has directed MineOne Partners, a Chinese-owned cryptocurrency miner, to divest its land near a U.S. nuclear missile base within 120 days due to national security concerns. The White House cited fears of potential surveillance and espionage activities facilitated by the proximity of the land to the strategic missile base in Wyoming.
Upcoming BitPinas Webcast 50
The CEOs of two leading crypto organizations, Wei Zhou from Coins.ph and Lawrence Linker from XD Academy, will join BitPinas webcast episode #50.
The discussion will delve into recent significant events such as the fourth Bitcoin halving and the approval of the Bitcoin ETF, exploring their immediate and medium-term impacts on cryptocurrency markets.
The agenda includes topics like the role of education in crypto adoption, partnership highlights, market trends, projections, and future initiatives from both Coins and XD Academy. Attendees can anticipate a comprehensive analysis and Q&A session covering upcoming trends over the next six months and the importance of education in fostering crypto awareness.
This article is published on BitPinas: Notcoin, Blade of God X | Key Points | May 15, 2024
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