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2024-05-15

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Customize: Go beyond the ordinary with a multitude of customization features that Torque Drift 2 offers. Every achievement you earn gets immortalized through the secure and transparent blockchain technology. Blockchain Projects that Utilize Zero-Knowledge Proof Ripple (XRP) price, market cap|$0.482949|ChartThe FCA's new regime for crypto asset financial promotions took effect on Oct. 8. The new rules apply to crypto promotions across various media forms, from websites and social media outlets to online advertising. The regulator said unregistered crypto asset firms who fail to comply with the new financial promotions guidelines are likely to be in breach of section 21 of the UK's Financial Services and Markets Act 2000. This would be a criminal offense, punishable by up to two years imprisonment, an unlimited fine, or both. Payment: To activate the mining contract, an upfront payment or ongoing costs are required. Pricing arrangements differ between suppliers and may involve one-time or ongoing fees.

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In this context, miners discover new blocks to be added to the chain. They receive newly-minted cryptocurrency as rewards for their efforts. The market seems to be more sensitive to SEC decision-making than it is to interest rates, Butterfill said. Big Crypto Exchange Goes BankruptThe Role of NFTs in Crypto Gaming VR46 Metaverse, the metaverse of Valentino Rossi, the celebrated nine-time MotoGPTM world champion, has entered into a new partnership with Animoca Brands and Gravitaslabs to launch ValeVerse on The Sandbox.

Source: Sam Cooling x XreschAbracadabra Finance has put forth a proposal aimed to adjust interest rates to mitigate the risk of bad debt resulting from an $18 million loan to Curve Finance founder Michael Egarov. The proposal suggests hiking interest rates on the loan to 200% on two specific pools known as "cauldrons," which consist of CRV tokens belonging to Michael Egarov. The current interest rate on Egarov's $18 million loan is 18%, but the proposed protocol aims to raise it to a whopping 200%, effectively squeezing Egarov out of his position. By doing so, Abracadabra hopes to limit its exposure to CRV tokens to only $5 million.The proposed interest rate hike is not a sudden increase in rates, but rather a gradual decrease that starts at 200% and decreases as the loan is repaid through the automatic sale of CRV tokens. Developers anticipate that this strategy will result in the loan being fully repaid within six months, with all proceeds going to the Abracabadra treasury. "The effect of collateral-based interest is such that all interest will be charged directly on the cauldron’s collateral and will immediately move into the protocol’s treasury to increase the reserve factor of the DAO," the proposal reads."We believe this solution will reduce negative externalities associated with such positions compared to a simple interest rate hike"Big Whale Opposes Abracadabra Finance's Proposal It is worth noting that the proposal initially gained substantial support from the Abracadabra community.As of Wednesday at 13:00 UTC, a majority 99% of votes were cast in favor of the prposal. However, the poll has since changed course after a big whale voted against the plan. Earlier today, whale masterofdisaster.eth cast 10 billion SPELL tokens against the proposal.As of now, a majority 72% of votes are against the proposal, with another 27% supporting the change.Abracadabra community member known as "0xthespaniard" had previously voiced concerns about the risks associated with such a large loan.In a June post, the user acknowledged that the 18% interest rate contributes significantly to the protocol's profitability, but also highlighted the platform's asymmetric downside risk. At the time, they said that a liquidation event could prove fatal for the Abracadabra protocol due to the anticipated price impact on Curve's decentralized exchange.As reported, Curve Finance, a major player in the stablecoin swapping landscape, recently experienced a security incident that led to the loss of more than $100 million worth of crypto assets. The exploit also resulted in a decline in the price of CRV tokens, putting a $168 million holding belonging to founder Michael Egorov at risk of being liquidated. Crypto Billionaire Arthur Hayes' Vision: AI DAOs to Become Invincible, Driving DeFi's Supremacy over TradFi Image Source: UnsplashItalian luxury watch manufacturer Panerai has revealed plans to include an NFT-based "digital passport" with every watch sold after October 3. The Panerai digital passport will serve as a record containing detailed information about each timepiece, establishing its digital identity and providing proof of authenticity at the time of purchase.To implement this blockchain-powered digital passport, Panerai has partnered with Arianee, a Web3 solutions provider. The luxury brand will showcase this initiative at the upcoming Watches and Wonders fair in Shanghai.The transferable nature of the passport allows it to be passed on to subsequent owners, documenting the watch's technical specifications and its journey throughout its lifespan. Panerai's NFT Passport Extends International Limited Warranty Panerai's NFT passport offers an additional advantage to holders by extending the international limited warranty of their watch for up to eight years, incentivizing registration. The company, with its 163-year heritage, anticipates that this functionality will open doors to "further value-added services and advantages."Panerai initially integrated Arianee's technology in March 2022 for a limited edition of its Radiomir Eilean Experience watch. This exclusive release included a one-of-a-kind NFT artwork and featured evolving content, with the digital passport playing a role in the artistic and experiential aspect of the offering. At that time, Panerai expressed its intention to expand the digital passport functionality to all its watches. Now, with the broader rollout, the focus is on the utility and enhanced customer experience, aligning with the luxury industry's current Web3 outlook.“Committed to elevating the client experience, we continually adapt and innovate to align with the changing times,” Panerai CEO Jean Marc Pontroué, said in a statement. “We firmly believe that digital identities are poised to transform possession of valuable assets, enabling our clients to trace the lifecycle of their watches, prove authenticity, and benefit from bespoke services tailored to each timepiece.”Watch owners can claim their digital passports either at the time of purchase from Panerai boutiques or by scanning a QR code on the warranty card. Arianee has established strong ties with the luxury watch industry, having collaborated with watchmaker Breitling on digital IDs as early as 2020. The company also works with renowned brands such as L'Oreal, Moncler, Lacoste, and the Richemont Group as a whole.Luxury Brands Adopt NFTs to Fight CounterfeitingPanerai's new feature comes as luxury brands are increasingly turning to NFTs to ensure the legitimacy of products. As reported, Prada Group, the parent company of Miu Miu, in cooperation with the Aura Blockchain Consortium, has launched blockchain services that allow customers to verify the authenticity of their purchased products.The Aura Consortium's blockchain technology enables customers to verify products by accessing a digital certificate of authenticity. Customers can tap their smartphones on items like Maison Margiela Tabi shoes, which contain embedded NFC chips. The chip then directs the phone to a website where the company provides an authenticity certificate, along with information about the product's origin. Animoca Brands Secures $20M Funding to Drive Ambitious Mocaverse Metaverse Project – NFT's Making a Comeback? Bitcoin rates in PKR and USD on April 25, 2023This is grid infrastructure provided by bitcoin mining. This is a national defense matter. This comes after the company's showcase of its latest S21 mining machine at a recent conference in Hong Kong.

That said, while the proposed rules aim to close the tax gap through accurate reporting and taxation of crypto transactions, experts have previously raised concerns over solely relying on Form 1099-DA, advocating a “trust, but verify” approach, particularly for off-chain transactions. Luckily, the Treasury and IRS remain open to public input as they work towards finalizing these regulations, which could give chance to more crypto friendly changes.UK Crypto Regulation: A Brief Look at The Legal Situation in Europe “When you’re regularly daydreaming about art, or you wake up in the middle of the night and start thinking about your next art piece instead of the Nikkei and S&P, it’s time to become an artist.” OKX Partners with Laevitas to Empower Traders with Enhanced Crypto Derivatives InsightsAfter reaching the specified TVL level in the crypto currency unit, the platform’s token saw a $2 million drop, but the rapid growth since the launch of the token has continued to see an increase in Friend. tech’s usage. At the time of writing, the protocol’s TVL was at $48.21 million. According to Dune Analytics data, Friend. tech has a cumulative user count of 315,858 and has completed at least one transaction on the decentralized social network since its launch on August 10th. “The No. 2 crypto was on an upswing in 2021 and liquidity was positive,” McGlone and Seyffart noted. “Both have reversed.”

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