• Magic Eden Launches Bitcoin NFT Marketplace
• Ordinal NFTs are inscribed in the witness portion of BTC transactions
• The marketplace allows users to list, bid, buy, and sell these inscriptions

Magic Eden Launches Bitcoin NFT Marketplace

Multi-chain non-fungible token (NFT) marketplace Magic Eden has launched a „fully audited“ marketplace on the Bitcoin network as interest in Ordinal NFTs continues to grow. The platform aims to empower collectors and creators, giving them access to appropriate tools.

What are Ordinal NFTs?

Ordinals are Non-Fungible Tokens inscribed in the witness portion of BTC transactions. The inscriptions can be images or videos, and they leverage the Taproot soft fork. They are also used to number satoshis on the Bitcoin protocol.

The Impact of Ordinals on User Activity

The launch of Ordinal NFTs increased user activity on Bitcoin, as users with non-zero bitcoin balances found a non-monetary purpose to be on the network. More than 500,000 inscriptions have been made on the Bitcoin protocol, with the average number of Ordinals transactions per block being 250.

Features of Magic Eden’s Marketplace

Magic Eden’s new marketplace allows users to list, bid, buy, and sell these inscriptions or NFTs. To make this easier, the company has partnered with Bitcoin wallets Hiro and Xverse.

Conclusion

The launch of Magic Eden’s marketplace showcases their ability to overcome technical barriers while providing users with an easy way to buy and sell collectibles using Bitcoin transactions.

• Kialara is a cold-storage wallet created 10 years ago to protect private keys over a long period of time.
• The latest edition, Kialara Builders, is made from .999 Monocrystalline silicon and features a robot made up of mining parts.
• A new trustless wallet model will soon be released, responding to the growing need for self-custodial design.

Kialara Project: Preserving Bitcoin Using Art

Kialara is a cold-storage wallet created ten years ago by Max Mellenbruch with the aim of preserving private keys over a long period of time and safeguarding them against physical deterioration. This innovative concept uses beauty itself as an agent of preservation, turning Kialara into an intriguing piece of contemporary art.

Kialara Builders Edition

The latest edition, Kialara Builders, pays tribute to the technologies that led to the advent of Bitcoin. It is crowned with a shiny chunk of .999 Monocrystalline silicon and features a little robot made up of mining parts representing the incessant „race towards the block“ undertaken by each miner that makes up the Bitcoin network worldwide.

Trustless Wallet Model

A forthcoming edition will mark a transition towards a trustless wallet model enabled by self-custodial design; this release responds to the growing need for such models in order to protect users’ funds more securely.

Precision Craftsmanship

Each edition has been meticulously hand-assembled using precision-machined SUS304 stainless steel housing for added protection. The aesthetic and conceptual themes developed for each edition have gained admiration from loyal customers keen on collecting them all.

Conclusion

Kialaras provide an interesting way for bitcoin holders to store their funds securely while also gaining access to unique pieces of art – making them attractive investments in both form and function!

• Grizzly.fi, a DeFi platform, is giving away a Tesla Model 3 to celebrate the release of their new roadmap.
• The giveaway will end on March 20th and was organized in collaboration with many well-known DeFi companies.
• To participate in the giveaway, users should access the giveaway page and complete certain actions.

Grizzly.fi Announces Tesla Model 3 Giveaway

Grizzly.fi, a DeFi platform that wants to make DeFi accessible to everyone, announced a collaboration with some big names in the DeFi world to give away a Tesla Model 3 on March 6th, 2023. The giveaway was organized to celebrate the release of Grizzly.fi’s new roadmap which will take place on March 10th and will end on March 20th.

Why Is Grizzly.fi Doing this?

The team at Grizzly.fi hopes that by offering such an amazing prize, more people will be encouraged to join the DeFI movement and see how it can benefit them. They are thrilled to announce this giveaway to its community as it aims to bring as many users as possible into the world of DeFI.

Who Is Involved?

The Tesla Model 3 giveaway is being organized by Grizzly.fi along with Vacabee, Stader, XCAD Network, DEUS Finance, Persistence, Fear, Thena Coin98 Finance Galactic and Biswap – all renowned companies within the industry!

How Can You Participate?

To participate in the Grizzly fi Tesla Model 3 Giveaway you need to access their dedicated webpage and sign up with your details then complete a series of actions which will increase your chances of winning!

Conclusion

Keep an eye out for more updates from Grizzly fi and don’t miss your chance of winning a Tesla Model 3!

• Binance, the world’s largest cryptocurrency exchange, was accused of moving almost $2Bn without permission.
• Forbes published a report titled „Binance’s Asset Shuffling Eerily Similar To Maneuvers By FTX,“ which argued that the crypto giant transferred $1.8 billion associated with its users‘ funds.
• Binance denied the allegations, claiming that it had fully audited its reserves and never touched its clients‘ deposits.

Accusations Against Binance

Binance, the world’s largest cryptocurrency exchange, was accused of moving almost $2 billion without permission. Forbes published a report titled „Binance’s Asset Shuffling Eerily Similar To Maneuvers By FTX,“ arguing that the crypto giant transferred $1.8 billion associated with its users‘ funds between August 17 and early December 2022.

The Allegations

According to Forbes, $1.1 billion of the funds extracted from customers in USDC tokens, the stablecoin issued by Circle, were sent to Cumberland/DWR – a Chicago-based high-frequency trading firm – which may have assisted Binance in its efforts to transform the collateral into its own BUSD stablecoin. Other relevant actors in the crypto ecosystem such as Amber Group, Sam Bankman-Fried’s Alameda Research and Justin Sun’s Tron also allegedly received hundreds of millions of dollars in funds from Binance.

Binance Denies The Allegations

In response to these allegations, Binance denied having moved any user funds and stated that it had fully audited its reserves and never touched clients‘ deposits. Moreover, they noted that all customer assets are safe and secure at all times due to their multi-signature wallet architecture system which requires multiple private keys for each transaction before any money is moved out of their wallets.

CTO Comments on The Incident

The Chief Technology Officer (CTO) at Binance Changpeng Zhao wrote on Twitter: “I don’t know where this FUD came from but I can assure you we did not move any user funds without permission.“ He further elaborated: „We do have protocols for inactive accounts but it does not involve moving anyone’s funds without prior notice.“

Conclusion

It remains unclear whether or not these accusations against Binance are true or simply FUD spread by malicious actors looking to damage the reputation of one of the most dominant exchanges in the industry. Only time will tell if there is any truth behind them or if they will remain unfounded rumors with no basis in reality whatsoever.

• FTX Japan announced that customers can now withdraw their assets from February 21, 2023.
• The withdrawals will be processed through the Japanese crypto exchange Liquid.
• Other services on the platform are expected to resume soon.

FTX Japan Resumes Withdrawals

FTX Japan, the Japanese arm of the bankrupt crypto exchange, has announced that it will resume its withdrawal function for customers as of February 21, 2023. The announcement was made via a press release on Monday (Feb. 20, 2023).

Processing Through Liquid Exchange

The platform stated that both fiat and crypto asset withdrawals can be processed through the Japanese crypto exchange Liquid. Customers who do not have an account with Liquid Japan must open one before moving their funds.

Notification Process

FTX Japan further said it has already notified eligible customers about the procedures for withdrawals but warned that processing times may take longer due to the large volume of requests being made by users.

Directive From FSA

The latest development comes after the Japanese subsidiary halted withdrawals in Nov. 2022 following a directive from Japan’s Financial Services Agency (FSA). Since then, FTX Japan has been making efforts to restore services for its customers.

Other Services To Resume Soon

Other services on FTX Japan are expected to resume soon according to Monday’s press release.

• Coinbase, the largest US-based crypto exchange, recently published a blog post claiming that its staking products do not meet the SEC’s Howey test criteria and should thus not be considered securities.
• Paul Grewal, Chief Legal Officer of Coinbase, argued that crypto staking rewards are simply payments for validation services provided to the blockchain and not a return on investment.
• All of these statements come as COIN, an exchange-traded product backed by Bitcoin and Ethereum, has dropped 22% in the last week.

Coinbase Claims Staking Products Not Securities

Coinbase, one of the largest US-based cryptocurrency exchanges, recently released a blog post in which they claim their staking products do not meet the criteria set out by the SEC’s Howey Test and should thus not be considered securities.

Paul Grewal, Chief Legal Officer of Coinbase, stated in his post that crypto assets are staked on decentralized platforms and therefore do not meet the common enterprise element of Howey’s test. He further explained that staking rewards are merely payments for validation services provided to blockchains and cannot be seen as returns on investments.

COIN Prices Drop 22% Weekly

All this comes at a time when COIN, an exchange-traded product backed by Bitcoin and Ethereum has dropped 22% in just one week. The sudden drop is likely due to investors‘ concerns regarding Coinbase’s ability to settle with regulators without any potential penalties or fines being imposed upon them.

SEC Criteria For Security Classification

The SEC uses four criteria when determining whether an asset falls under their security classification – efforts of other parties involved in producing profits from investments; money invested; expectation of profit; and common enterprise among all parties involved. As per Coinbase’s claims none of these apply to their staking products so it would make sense for them to avoid any potential legal issues or otherwise unfavorable outcomes if investigated further by regulatory authorities.

Coinbase Assurance Regarding Staked Assets

Grewal also reassured customers that they retain full ownership over their crypto funds while staking them on Coinbase: „They own exactly the same thing they did before.“ This statement could potentially encourage more people to take up such services since it eliminates any doubts about losing control over one’s assets while participating in coin staking programs offered by the platform.

Conclusion

Throughout its blog post Coinbase was adamant about its stance regarding its staking products – they do not constitute securities according to SEC guidelines and hence should remain unaffected by any future investigations or enforcement actions taken against them.. In addition to this assurance, customers can rest assured that their assets will remain fully theirs during any participation in such programs offered by Coinbase itself as well as other third party service providers available through its platform.

• Randall Crater – the Founder of the fraudulent cryptocurrency business „My Big Coin“ – will spend 100 months in prison for stealing $7.5 million from investors via his „My Big Coin“ scam.
• U.S. District Judge Denise Casper ruled that Crater should stay in prison for more than eight years for running a cryptocurrency scam called „My Big Coin“.
• Federal prosecutors revealed he used stolen investor funds to purchase expensive items including cars, artwork, jewelry, and antique coins.

Randall Crater Sentenced to 8 Years in Prison

U.S. District Judge Denise Casper has sentenced Randall Crater to eight years and four months in prison for running a cryptocurrency scam called „My Big Coin.“ Crater stole $7.5 million from investors between 2014 and 2017 by luring them to invest in a digital asset backed by gold and falsely claiming it was partnered with Mastercard.

Stolen Funds Used To Buy Luxury Items

Federal prosecutors also revealed that Crater used the stolen investor funds to purchase expensive items such as cars, artwork, jewelry, and antique coins. They had urged the authorities to impose a 13-year punishment on Casper in order to serve as a message of deterrence to other crypto scammers.

Crypto Scam Age-Old Scheme

Upon announcing the sentence, Judge Casper said: “Certainly, cryptocurrency is a newer enterprise, a newer market, a 21st Century market. But the scheme at its core was age-old, and that was a fraud.“ This serves as an important reminder that while cryptocurrencies are relatively new financial instruments they can still be susceptible to traditional scams like any other asset class or currency.

Protect Yourself From Crypto Scams

In order to protect yourself against crypto scams like these it’s important to do your due diligence before investing in any digital assets or cryptocurrencies and familiarize yourself with common warning signs of fraud such as promises of guaranteed returns or ‚too good to be true‘ offers of high returns with minimal risk involved. Additionally, make sure you research any company you’re considering investing with thoroughly online before committing any capital or providing any personal information associated with your identity or finances.

Conclusion

Randall Crater has been sentenced by US District Judge Denise Casper for running the fraudulent cryptocurrency business „My Big Coin“ which resulted in him stealing $7.5 million from unsuspecting investors between 2014-2017 via false promises regarding partnerships with Mastercard and gold backing their digital asset.. It’s important for anyone looking into investing in cryptocurrencies or digital assets do their due diligence beforehand and familiarize themselves with common warning signs of fraud so they don’t fall victim like those who invested with My Big Coin did

• The United States Securities and Exchange Commission (SEC) is investigating investment advisors for potentially offering digital asset custody to their clients without meeting proper criteria.
• The investigation follows the implosion of FTX and seeks details from advisers about the steps taken to assess custody for platforms.
• Three unnamed sources reported that the SEC is targeting investment advisors for potentially not following the rules around the custody of clients’ digital assets.

The United States Securities and Exchange Commission (SEC) is actively pursuing an investigation into investment advisors offering digital asset custody to their clients without meeting proper criteria. This is in light of the recent implosion of FTX, a cryptocurrency exchange.

The SEC enforcement staff is actively seeking details from the investment advisors in question and is requesting information regarding the steps taken by the advisors to assess custody for crypto platforms, including FTX.

The investigation has not been made public yet, however, three unnamed sources revealed to Reuters that the SEC is targeting investment advisors for potentially not following the rules around the custody of clients’ digital assets.

The SEC is currently examining the intersection of crypto and traditional finance and wants to ensure that investors are protected from any potential risks associated with digital asset custody. The regulator is looking to ascertain whether investment advisors are taking the necessary steps to identify, manage, and mitigate risks when offering digital asset services to their clients.

The SEC has also indicated that it is closely monitoring investment advisers’ activities in the crypto space and is prepared to take enforcement actions against those that fail to abide by the rules. The Commission has already taken action against several entities for failing to register their cryptocurrency activities as well as for failing to properly disclose their activities.

It is clear that the SEC is taking a proactive approach to regulating the crypto space and is committed to ensuring that investors’ interests are protected. The regulator is now targeting investment advisors who may not be following the rules around digital asset custody and is sending a strong signal that such activities will not be tolerated.

• Charles Hoskinson, CEO of Input Output Global, is interested in purchasing the crypto news website CoinDesk.
• CoinDesk’s Kevin Worth recently asserted that the publication was receiving „numerous inbound indications of interest.“
• In the latest livestream, Hoskinson said his media interest is broad and would like to „figure out how to get to journalistic integrity again.“

Cardano’s Charles Hoskinson has recently expressed his interest in potentially acquiring the cryptocurrency news website CoinDesk. This news comes as CoinDesk’s sister firm slid into bankruptcy, and the publication has been exploring a potential sale. Kevin Worth, the CEO of CoinDesk, recently asserted that the publication has been receiving “numerous inbound indications of interest.”

In the latest livestream, Hoskinson, who is the CEO of Input Output Global and the brain behind the Cardano blockchain, said that he is interested in broadening his media interests. He also said that he wants to “figure out how to get to journalistic integrity again” and that he would review the financial data before making any decisions. Hoskinson also highlighted the need to find a way to build a strong media outlet that is focused on providing accurate information, rather than taking a sensationalistic approach.

Hoskinson’s interest in potentially acquiring CoinDesk is especially interesting given the current climate in the cryptocurrency industry. With so much news and information circulating, it is important to have reliable sources of news and information that can be trusted to provide accurate information. CoinDesk has been one of the leading sources of news and information in the cryptocurrency industry for many years, and an acquisition by Hoskinson could potentially help to strengthen CoinDesk’s reputation for providing accurate information.

It remains to be seen whether or not Hoskinson will actually purchase CoinDesk, but his interest in potentially doing so is an interesting development. If Hoskinson is successful in acquiring CoinDesk, it could potentially be a major boon for the cryptocurrency industry, as it would provide a reliable source of news and information that can be trusted.