NFT GUIDE

📌 Fourth-Gen Coins: The New Frontier in Stablecoin Market 🟥 Exchanges and Beyond: The Current Use Case Stablecoins have become the go-to choice for many investors, primarily for asset purchases on exchanges. But their utility doesn't stop there; these coins are also making waves in the remittance and payments sectors. ✅ From USDT to DAI: The Evolution Unveiled Bithumb, a leading exchange, sheds light on the four generations of stablecoins. It all started with the first-gen like USDT, backed by fiat reserves. Transparency concerns were raised initially, but now regular reports reveal holdings, including Bitcoin and US Treasury bonds. 📊 Market Cap Leaders: The Power Trio According to CoinMarketCap, the top three stablecoins dominate the market. These stalwarts provide stability by matching their circulating supply with real-world assets, giving investors a sense of security. ⚡️ Balancing Act: Volatility vs. Decentralization While second-gen coins like DAI bring decentralized value from crypto reserves, they face the challenge of price volatility. To tackle this, collateral reserves expand to include US Treasury bonds and other tangible assets. 📉 Scaling Up: Challenges on the Road to Stability As we move into third-gen territory, algorithmic stablecoins step up. With no fiat or crypto backing, these coins rely on smart algorithms to maintain price stability. Scalability shines in favorable conditions but falters without collateral support. 🟠 The Future Beckons: Navigating Uncharted Waters As we venture into uncharted waters with fourth-gen coins, the stablecoin market faces fresh challenges. Will these new entrants strike a balance between innovation and stability? Only time will tell as the quest for the perfect stablecoin continues.

🚫 US House Proposes Bill to Ban Cryptocurrency Mixers for Two Years 💡 US Lawmakers Look to Ban Crypto Mixers Cryptocurrency mixers, often used for illicit activities, are in the crosshairs of Democratic representatives. Led by Sean Casten, they aim to crack down on these tools that obscure financial trails and hinder law enforcement efforts. 🔒 Promoting Transparency and Disrupting Illicit Funds The proposed legislation seeks to prohibit financial institutions from accepting mixer-processed funds, with penalties of up to $100,000 for violations. It also calls for a comprehensive report on mixer transactions during the ban period. ⚡️ Political Challenges and Innovation Concerns While Democrats push for tighter regulations, Republicans express worries about stifling innovation. The bill's fate in the Republican-majority House remains uncertain, highlighting the need for balanced oversight. 🌐 Stablecoins and Offshore Concerns Lawmakers are not only targeting mixers but also raising questions about offshore-issued stablecoins like Tether. The focus is on transparency and regulatory oversight in this growing sector of the cryptocurrency ecosystem.

🚨 Swifter Justice Needed for Crypto Offenders, Says South Korean Prosecution Chief 💨 The wheels of justice are turning too slowly in South Korea's crypto world, according to Lee Jeong-ryeol, the head of the Seoul Southern District Prosecutors’ Office’s joint crypto investigation unit. In an interview with Hanguk Kyungjae, he emphasized the need for faster trials and sentencing. 📌 Lee believes that the current pace of regulation and punishment for crypto crimes is lagging behind, leaving the virtual assets market feeling like a "lawless zone." He argues that these offenses should be treated no differently from traditional financial fraud. 🔍 With a team of around 30 professionals from various government agencies, Lee's unit is South Korea's first and only dedicated crypto investigation organization. Since its launch in July 2023, they've been tackling a range of cases, including a notorious art-themed altcoin scandal and illegal OTC trade networks worth nearly half a billion dollars. 💎 Lee stresses the importance of an integrated government response to combat these fast-evolving financial crimes. He believes that by swiftly resolving cases, they can not only restore trust in the market but also help victims recover their funds. 🏁 In this race against time, it seems that South Korea's crypto crackdown is gaining momentum.

🔒 Hacker Strikes Back: Hundred Finance Thief Returns, Transfers Stolen Crypto Assets Worth $6.48M 💰 After a year of silence, the notorious Hundred Finance hacker is back in action! This cybercriminal, responsible for a staggering $7.4 million crypto heist, has resurfaced and is making moves on the decentralized exchange Curve. 📈 The hacker's cunning strategy becomes evident as we delve into the Etherscan data: around $800,000 worth of ETH and USDT were withdrawn a year ago, serving as liquidity on Curve. 💸 But that's not all – this digital bandit has been busy converting those ill-gotten gains into Ethereum, reaping a cool profit of over $1 million in the process. 🔢 The hacker's newfound wealth includes a stash of crypto assets worth a jaw-dropping total of $6.48 million, with the lion's share being $4.39 million in Ether. DAI, Wrapped Ether, FRAX, and even a sprinkle of Wrapped Bitcoin complete this digital treasure trove. 🔓 Rewind to 2023 when Hundred Finance fell victim to an audacious attack. The criminal mastermind exploited vulnerabilities in the system, employing a mix of flash loans, clever manipulation, and critical rounding errors. ⚠️ This saga takes an eerily familiar turn as we draw parallels to another recent breach at Poloniex. It seems these hackers have learned from each other's playbooks, with both opting for long periods of dormancy before moving their spoils. 📌 As investigators scramble to trace the origins of these illicit funds, one thing is clear: the world of crypto remains an enticing playground for those with both skill and malintent.

👌 GFAL Secures $3.2M Funding Led by Supercell and Benchmark 💰 Web3 gaming startup GFAL has hit the jackpot, raising a whopping $3.2 million in seed funding. The round was spearheaded by Supercell and tech titan Mitch Lasky from Benchmark. 📈 With this fresh injection of capital, GFAL is set to level up its team and accelerate its production plans. This comes on top of the $4.4 million raised through token pre-sales last year. 🎮 Boasting an all-star lineup, GFAL's roster includes talent from industry giants like King Entertainment, Activision Blizzard, and Netflix. 🔥 The hype is real for GFAL's mobile game, "Elemental Raiders", which has been gaining traction since its soft launch in March. The game's metrics are on the rise, and the community is growing stronger. 🌐 Web3 gaming is taking off like a rocket in 2024, with VC investments pouring in. Last year alone, blockchain gaming rounds reached a staggering $1.7 billion. 💸 The funding frenzy doesn't stop there! Elixir Games recently scored $14 million, while Illuvium raised an impressive $12 million in their respective funding rounds.

📣Venezuela’s Digital Currency Use to Face Tighter Regulatory Scrutiny ➡️Experts warn that Venezuela’s likely shift towards digital currency necessitates stricter regulations. 🖱The development comes as Venezuela’s state oil company PDVSA is ramping up digital currency use for crude oil and fuel exports, according to Reuters. This decision follows the Biden administration declining to renew a license that had eased restrictions. Essentially, this led to reimposed sanctions on Venezuela’s oil industry. ⏳In response, Venezuelan opposition politician Leopoldo Lopez and a Chainalysis director Kristofer Doucette presented a report on Monday, calling for democratic governments to take action. Their report detailed financial transactions conducted since Venezuelan President Nicolas Maduro’s inauguration. ❕Government efforts should be taken to counter “Maduro’s attempts to exploit cryptocurrency to move illicit proceeds into the international financial system,” the report said. ➡️Venezuela Turns to Digital Currency to Bypass Oil Sanctions Since last year, PDVSA has reportedly been quietly ramping up its use of digital currency. The company has particularly been using Tether (USDT) for oil sales to avoid having accounts frozen by US oil sanctions. 🔔Maduro earlier suggested there are countries interested in doing business with Venezuela. But they would be willing to do so if they could use digital currency to avoid the traditional financial system. ⚡️The report further stated that other autocratic leaders under international sanctions, like those in Iran and Russia, have launched their own crypto programs. These programs, the report alleges, are a way to dodge financial systems reliant on US dollars or Euros, currencies vulnerable to sanctions.

👏Bitcoin Price Chops Either Side of $64,000 Following Latest US Inflation Report – Here’s What You Need To Know ☄️The Bitcoin (BTC) price chopped either side of the $64,000 level on Friday in the wake of the latest US inflation data report, which showed the Core PCE index rising 0.3% MoM in March, in line with the market’s expectations. 🔥A MoM inflation rate of 0.3% translates to an annualized inflation rate of around 3.6%. That’s well above the Fed’s 2% inflation target, pointing to still uncomfortably high inflation in the US. 🕯Economists highlighted that stubbornly high housing and utility inflation could keep MoM price pressures elevated for some time. ⁉️That will likely encourage the Fed to keep interest rates higher for longer. Given the strong data reports in recent weeks (manufacturing PMI, jobs, etc.), it’s no surprise to see the DXY and US bond yields near multi-month highs. ➡️The unfavorable macro backdrop, where markets are pricing stickier inflation and a Fed that is more reluctant to cut rates signals a near-term headwind for Bitcoin. 💸Bitcoin has historically performed better in an environment of falling US yields and a falling US dollar. 💎There is some evidence that the US economy is slowing, however. This week’s flash PMI report showed weakness in economic activity in April. And the latest GDP numbers for Q1 were a disappointment. ⚡️Until that weakness translates into lower inflation, the Fed will likely remain cautious about rate cuts, which will remain a headwind for BTC.

👌 Institutional Interest Soars, but Public Participation Lags: Are Bitcoin ETFs Facing an Uphill Battle? ⚡️ Despite Fidelity's groundbreaking $40 million investment in their Bitcoin ETF, the spotlight is now on the low public participation in these digital asset vehicles. While institutions are flocking to Bitcoin, everyday investors seem to be holding back. What's causing this discrepancy? 💼 Institutional Influx: With Fidelity's move, it's clear that big players are increasingly recognizing the potential of Bitcoin. The institutional interest in cryptocurrencies is reaching new heights, as traditional finance giants dip their toes into the digital realm. 📉 Public Pondering: However, retail investors are yet to fully embrace Bitcoin ETFs. Whether it's due to lingering doubts about digital currencies or a lack of awareness about these investment options, the public's caution is evident. 🔒 Challenges Ahead: Broader adoption of Bitcoin ETFs faces hurdles. Regulatory uncertainties and concerns over market volatility continue to cast a shadow on these investment vehicles. It seems that while institutions dive in, retail investors are taking a more measured approach. 🌐 The Great Divide: As the gap between institutional and public interest widens, it raises questions about the future of Bitcoin ETFs. Will we see a convergence or a continued divergence? Only time will tell if retail investors will join the institutional party or remain on the sidelines.

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