$56 million worth of Bitcoin shorts get liquidated at BitMEX

The beleaguered Ukrainian government is spending $54 million in cryptocurrency donations on military and medical supplies, according to a senior minister.

The post Ukraine Government Breaks Down How it Spent $54M in Crypto appeared first on BeInCrypto.

Coinbase CEO Brian Armstrong said he would rather shut down the exchange’s Ethereum staking service than bow to U.S. government demands to censor sanctioned transactions.

The post Coinbase Would Quit Ethereum Staking if Pressured to Censor Transactions, Says CEO appeared first on BeInCrypto.

Facebook is the latest major technology corporation to initiate mass layoffs, randomly selecting 60 contractual staff using an algorithm. The displaced contractors at Accenture’s Austin, Texas headquarters were informed of the decision in a Tuesday video call and were not provided a clear explanation as to why they will lose their positions, Business Insider reported […]

The crypto market has shed more than $2 trillion of its value since November last year. As a safeguard against the market’s heightened volatility, a number of investors and traders opted to remain in the backseat. However, the industry is being led by the founder of a Hong Kong-headquartered game software company and venture capital […]

Bitcoin’s (BTC) price is retracing to $21,000 after the massive sell-off negates the uptrend, as predicted in the previous report. The BTC price is now trading below the 200-weekly moving average (WMA) after falling nearly 9% to below $22,000 in the last 24 hours. Bitcoin (BTC) Price Risks Falling to $20,000-$21,000 Range Bitcoin (BTC) price

The post Bitcoin (BTC) Price Retracing To $21,000, This Remains Key Resistance Level appeared first on CoinGape.

The Korea Financial Intelligence Unit (KoFIU) has decided to pursue some crypto firms that lack proper regulatory approval. A total of 16 firms have been in the regulator’s radar as they have not aligned with the regulatory approval. These firms had advertised crypto and and had offered the services to the Koreans without having appropriate […]

Bear market: Those who wait until the crypto winter has thawed to build the Metaverse will be late to the game.

The post Bear Market: It’s Here, So Let’s Get To Work On The Metaverse<strong></strong> appeared first on BeInCrypto.

Solana network and Jump Crypto has recently collaborated to improve Solana network’s stability. Solana network especially this year has fallen prey to numerous network outages and congestion which has frequently caused slowing down of the network. Jump Crypto, a Web3 infrastructure developer and investor has decided to partner its efforts in order to improve decentralization […]

Shitcoins are here, and they are a stroke of genius. This is definitely one of the coolest things in crypto so far.

The post <strong>Shitcoins: South Korean Toilet Turns Poop into Cryptocurrency</strong> appeared first on BeInCrypto.

Women in Blockchain Talks (WiBT), the UK’s leading diversity-driven blockchain education and networking ecosystem, is holding its “Crypto – How to Get Started” Workshop (online) on August 23. The half-day workshop will cover an introduction to crypto, how to invest in digital assets, how to manage risk, and the opportunities in the space to grow … Continued

The post WiBT’s Inclusive Workshop to Help Investors Navigate Crypto Winter appeared first on BeInCrypto.

Axie Infinity trading volume seen to have capsized by over 2% in the past few days. Price drops 4.7% in the past 24 hours AXS value set to jump in price when full version of Axie Infinity game rolls out in 2023 Price down 0.87% or trading at $16.97 as of press time AXS price has fallen 4.7% in the last 24 hours or is trading at $17.25. This gives traders an idea of how the week’s AXS price trend will go. It continued to hover in the negative area or red zone since the past week wherein it registered a detrimental loss of 7%. Related Reading: Avalanche Grinds To A Halt As AVAX Breaks 2-Month Uptrend Axie Infinity Trading Volume Down By 2% On the daily chart, Axie Infinity’s trading volume is seen to have capsized by over 2% in the past few days. On the other hand, AXS circulation has jumped by 0.6%. The total circulating supply is now capped at 89.83 million. To date, Axie Infinity ranks as the 44th largest crypto in terms of market cap at $1.54 billion. According to CoinMarketCap, AXS’s price is down by 0.87% or trading at $16.97 as of press time. Axie Infinity is an exciting play-to-earn blockchain gaming platform that has enabled multiple game modes used to collect, train, and battle Axies. Additionally, players can explore other opportunities to earn by joining weekly tournaments and contests on the platform. Axie Infinity players use AXS to trade, buy, and sell game characters called Axies. Despite the bearish trend, analysts are optimistic that AXS price will increase once Axie Infinity launches its full version at the end of the year. As Ethereum backs the platform, this makes a lucrative investment despite the bearish market. Axie Transitioning To Origin Phase 3 In other news, Axie Infinity will be making a transition to Origin Phase 3 with a milestone moment for the reveal as the next phase boasts of epic gameplay and updates. The new game mode makes the transmission from Classic to Origin. An update on August 11 revealed that Axie Infinity is trying to enhance its rewards structure and scraping off SLP from its basic gameplay. Axie has made over $4.24 billion in total sales to date. Associates of Axie have recently acquired a large pie of ownership of the Fire-Tier versions of Trilogy or the 2021 BIG3 defending champions. This recent acquisition in April 2022 is one pivotal part of the BIG3 FEAT new ownership model. Snoop Dogg, Gary Vaynerchuk, DeGods, VeeFriends, MyDoge/DogeCoin, Bill Lee, Ken Howery, and Krause House are some popular owners of the BIG3 FEAT. Related Reading: Dogecoin Jumps 15% In 24 Hours As DOGE Overcomes Critical Level AXS total market cap at $1.4 billion on the daily chart | Source: TradingView.com Featured image from Bitcoin.com, Chart from TradingView.com

Over the past few years, cryptocurrencies have become increasingly associated with the world of sports, with a recent example of this being the renaming of the Staples Center to the Crypto.com Arena and Crypto.com being named the official sponsor of this year’s FIFA World Cup in Qatar. Plenty of prominent sports celebrities such as Floyd Mayweather have also previously expressed their support for the crypto and blockchain industry, with boxing champion Oleksandr Usyk now joining that list by partnering up with the QMALL crypto exchange. What is QMALL? QMALL is a cryptocurrency exchange that is legally allowed to operate in Europe as it has a license there. To date, the exchange has attracted over 300,000 European traders and in September of this year, the exchange will launch several launchpads for new European crypto projects. QMALL users will also be able to invest in a variety of new projects, albeit only through the exchange’s token. This token also offers a variety of extra benefits to holders and has a direct impact on growth too. Like most other crypto exchanges, QMALL wishes to establish key strategic partnerships in order to both help the crypto industry gain additional mainstream attention and help the European market recover after the COVID-19 pandemic and the still ongoing Russia-Ukraine conflict. To that end, the exchange has partnered up with Oleksandr Usyk, a Ukrainian professional boxer who is scheduled to face Anthony Joshua on August 20th, 2022. What is QMALL planning for the future and what has it already accomplished? The proclamation by QMALL concerning the establishment of Europe’s largest launchpad (QPad), which will be available to crypto startup companies from all over the world, was a major moment in the cryptocurrency sector’s relatively short history. The project will be introduced through collaborative efforts with Sophia Antipolis, Silicon Valley’s French counterpart. QMALL has also incorporated the Euro for its features and services in order to further enhance its trading capabilities for the users. Moreover, not only is the very first Ukrainian Crypto Bank currently in the works, but QMALL will also release crypto cards along with the world’s inaugural meta crypto exchange in the future. Why is the partnership important? Russia attacked Ukraine earlier on in 2022  and the ensuing conflict continues to this very day. During these trying times, Ukraine received an enormous amount of crypto and NFT-based donations, which it used to obtain food, medicine, water, and other necessities. The key takeaway here is that crypto succeeded where traditional financial institutions such as banks failed. The goal of the partnership is to hence successfully utilize the collaborative power between QMALL and Oleksandr to support Ukraine and highlight the unification of the brands to viewers across the globe. After all, Ukraine needs to bolster its economy and ensure that there can be some semblance of financial security and prosperity once the war with Russia eventually ends. To that end, Oleksandr Usyk wants to do his part for his country and will therefore be wearing official QMALL merchandise for his upcoming match in order to promote the new partnership. Be sure to check out QMALL’s official website and keep up to date with all of the latest updates through the Twitter, LinkedIn and Telegram channels.

Community engagement can make or break any project in the cryptocurrency space. Snook, the online multiplayer IO game, has developed a new solution to help more projects connect with their communities. The BBT-themed rooms are an exciting addition, and the venture has a strong lineup of initial partners. Snook Goes The Extra Mile Despite the popularity of non-fungible tokens (NFTs) and GameFi, some industry inefficiencies still need to be addressed. For example, Snook acknowledges there is s degree of inflation that needs to be flattened sooner rather than later. In addition, the project has cracked the code to capture the value of skills and performance. That makes it different from the traditional buzz and speculation song and dance one would associate with NFTs. As a leading game on the Polygon blockchain, Snook has proven very successful since its launch. Measuring skilled work invested in the creation and development of NFTs is what brings out the true value of these non-fungible tokens. While artists deserve to make money, not everything they create will be valuable. It all comes down to applying oneself, getting better, and reaping the rewards from doing so. That different mindset enables the Snook team to tackle NFTs from a very different angle. The recent introduction of BTT-themed rooms illustrates that point rather well. Every BBT-themed room is a branded and token-gated experience where projects can engage with their community. In addition, every partner project can leverage Snook’s Snake-like gameplay to create a branded environment where they can organize game nights and tournaments. There are many opportunities ahead for partner projects. Teams can design in-game assets with their brands to make community members feel they are part of something much bigger. In addition, these rooms and environments offer utility to token holders and community members. What is pretty interesting is how non-token holders can still see a project’s BBT-themed room but not enter it. They will be prompted to acquire the token when they try to enter, creating a new onramp to bring in new community members. Strong Initial Partner Lineup The vision by Snook and its BBT-themed rooms strikes a chord with many projects and communities. The first collaboration is with Unstoppable Domains, one of the biggest blockchain and web3 communities. That partnership will offer a new place to hang out for UD members and enables Snook to continue its growth curve in the broader industry. Through this partnership, Snook users can log in with their Unstoppable Domain and play against other UD holders. They gain access to an exclusive room with Unstoppable Domain branding and theming. Moreover, the games feature special Snooks tailored to the Unstoppable Domains brand, which is used to earn $SNK tokens and/or native chain tokens. A second top-tier partner materialized in LobsterDAO, which also received dedicated BBT-themed rooms. The team plans to host an exclusive game night for all LobsterDAO NFT holders. In proper DAO fashion, the community could vote on the game night idea and how they would organize things. With more partnerships looming on the horizon, these BBT-themed rooms will become more commonplace over the next few months. It is essential for projects to engage their communities, and creating a safe and fun space to hang out and play games – with potential rewards – is a welcome addition.      

The NFT industry is riddled with projects that suffer from a short-term vision rather than a long-term mindset. Speculation and greed reign supreme, and community engagement is often an afterthought. With the help of Snook’s BBT-themed rooms, all of that may finally begin to improve. NFTs Are About More Than Speculation Many people agree there […]

Per a press release from the U.S. Justice Department, an alleged crypto money laundering scheme has taken a hit. Authorities from this country managed to extradite a Russian national that allegedly laundered as much as $70 million. Related Reading: Vitalik Buterin’s Take On Possible Ethereum Censorship By OFAC The suspect is called Denis Mihaqlovic Dubnikov […]