• Dubai Free Trade Zone DMCC has collaborated with South Korean Web3 firms to promote decentralized technology in the area.
• The emirate-owned zone is home to over 20,000 registered businesses and has signed multiple agreements after holding roadshows in Korea.
• Dubai is aiming to become a global Web3 hub by encouraging the development of a metaverse-based local economy.

Dubai Free Trade Zone DMCC Collaborates with South Korean Web3 Firms

The Dubai Multi Commodities Centre (DMCC), one of the largest free trade zones in the area, has formed collaborations with organizations based in South Korea as part of Dubai’s efforts to expand its presence in the Web3 sector. The emirate-owned zone, which is home to over 20,000 registered businesses, signed these agreements after holding roadshows in several cities throughout Korea.

Organizations Inked MOUs

The Korea Blockchain Industry Promotion Association (KBIPA) and Seongnam City have both signed memorandums of understanding (MoUs). These agreements are intended to facilitate the formation of Korean Web3 and metaverse enterprises inside DMCC’s borders.

Dubai Establishes Metaverse Task Force

Dubai is among the first emirates to employ blockchain technology as part of an organized government strategy. To encourage the development of a metaverse-based local economy, Dubai established a metaverse task committee in May 2022. In July last year, they created their plan which anticipated that this industry will contribute $4 billion to its economy by 2030 and create 40,000 new jobs by 2025.

Dubai Moves Administrative Operations To Metaverse

It was reported that Dubai was looking at moving some of its administrative operations such as agencies and departments into a digital environment within the metaverse realm. This would enable efficient and secure communication between departments while also allowing them to work more quickly than ever before.

Conclusion

With all these initiatives from DMCC and other organizations in place, it seems likely that Dubai will continue its push towards becoming a global hub for Web3 technology and decentralized applications

Summary

• Binance and Coinbase have temporarily suspended USDC conversions.
• This is due to fears that USDC stablecoin issuer Circle was keeping part of the cash reserves at Silicon Valley Bank, which was closed by California’s banking regulator.
• Circle said that Silicon Valley Bank still has $3.3 billion underpinning USDC.

Binance and Coinbase Temporarily Suspend USDC Conversions

The two leading cryptocurrency exchanges, Binance and Coinbase, announced on Friday night that they will temporarily halt USDC conversions until the ripple effect of the collapse of Silicon Valley Bank plays out. The action was taken because of fears that USDC stablecoin issuer Circle was keeping part of the stablecoin’s cash reserves at Silicon Valley Bank, which was closed on Friday by California’s banking regulator.

Binance Halts Conversion

Binance has announced that automatic USDC-to-BUSD conversion would be temporarily disabled due to present market circumstances, however, it did not specify Silicon Valley Bank by name. When Binance said it will halt USDC conversion to USD over the weekend, the biggest cryptocurrency exchange in the United States, Coinbase, also announced it would do the same.

Coinbase Statement

Coinbase stated: “During periods of heightened activity, conversions rely on USD transfers from the banks that clear during normal banking hours.” Shockwaves Across the Sector The exchange also did not mention Silicon Valley Bank by name but did say that conversions will resume on Monday when the institutions reopened.

Silicon Valley Bank Exposure

The SVB bankruptcy on Friday sent shockwaves across the entire IT and crypto sector. Circle, Pantera, Avalanche, and even insolvent crypto business BlockFi have all acknowledged their current exposure to the California bank, showing that the industry as a whole has not been spared. Late on Friday, Circle said that Silicon Valley Bank still has $3.3 billion underpinning USDC. Silicon Valley Bank is one of six banks Circle employs to manage 25% of USDC reserves , according to the company . The trading price of USDC , which is supposed to be fixed at $1 , plummeted from $1 .00 as the news broke . The price of USDC at time of writing is $0 .9091 as per CMC .

< h2 >Conclusion In conclusion , both Binance and Coinbase have temporarily halted conversion for their respective platforms due to fears about exposure to collapsed bank ,Silicon Valley Bank . Despite this , Circle reported having $3 .3 billion underpinning their currency with this institution . We can hope for further clarification soon after markets open again Monday morning .

• The Sandbox team recently issued a security alert to its users after discovering that a third party had breached an employee’s computer and sent out phishing emails.
• Malware-infested URLs were disguised as advertisements in the emails, potentially giving the exploiter complete access to the compromised system and all of its data.
• The Sandbox urged users not to click on any links included in the suspicious email and advised them to use strong passwords and two-factor authentication for added security.

Security Breach at The Sandbox

The Sandbox team recently issued a security warning due to a malware programme that an outsider was able to breach an employee’s computer. Purporting to come from The Sandbox, according to a company blog post, this third party had access to a number of email addresses and sent out phishing emails with malicious URLs disguised as advertisements.

Potential Damage Caused By Exploiter

By infiltrating user systems through these phoney ads, the exploiter could have had complete access to the compromised system and all of its data without the user’s knowledge or consent. This could have caused serious damage if left unchecked by users.

Warnings Issued By The Sandbox

The Sandbox warned users not to click on any links included in the suspicious email or any other strange emails they might receive in future. Furthermore, they advised them to use strong passwords and two-factor authentication for added security.

Steps Taken By The Sandbox Team

In response, those affected were contacted via email directly by The Sandbox while the employee’s compromised password has been changed immediately after discovery of this incident. Additionally, they are keeping an eye on things while trying their best improve security rules and procedures within their organization.

Conclusion

The security breach at The Sandbox should be taken as a lesson for everyone as it demonstrates how easily hackers can gain access into our personal information if we are not careful enough when it comes our online safety measures such as using strong passwords with two-factor authentication whenever possible .

• Coinbase has launched a layer-2 Ethereum-based network called Base, which is the first publicly listed business to establish such a network.
• This will help enable the next million decentralized applications and bring in the next billion users.
• Base is powered by Optimism and has several partners such as Chainlink, Etherscan, and Aave that have pledged to develop and support this ecosystem.

Coinbase Launches Layer-2 Ethereum Network

Coinbase has announced the launch of their layer-2 Ethereum-based network called Base. This is the first ever publicly listed business to establish such a network on top of Ethereum, trading under the COIN ticker since April 2021. With Base, millions of new decentralized applications can be enabled quickly and cheaply than on an underlying blockchain like Ethereum.

Testnet for Base Operational Since Beginning of Month

Base has been operating with a testnet since the beginning of this month according to Jesse Pollak, Coinbase’s director of engineering. He believes that this will help enable the next million dapps and bring in another billion users within 5 to 10 years time. The goal is to launch mainnet in just a few months from now.

Transaction Quicker & Cheaper with Layer-2 Networks

Layer-2 networks assist make transactions quicker and cheaper than an underlying blockchain like Ethereum by processing batches of transactions on a secondary chain then delivering receipts back to mainnet. Coinbase stated in their blog post that Base would be “a rollup agnostic superchain powered by Optimism.” A few partners who have pledged their support for this ecosystem include Oracle network Chainlink, Ethereum block explorer Etherscan, and DeFi protocol Aave amongst others.

COIN Stock Price After Q4 Earnings Beat

COIN stock closed at $61.18 per share on Wednesday after reaching a high of $67.17 after Coinbase’s Q4 earnings beat earlier today. It was down 1% from its previous closing price due to some investors taking profits from their investment in Coinbase’s stock after seeing it rise so quickly over the past few weeks.

Conclusion

With its layer- 2 based network now operational on top of Ethereum’s blockchain technology, Coinbase hopes that this will provide easier access for developers looking into building decentralized applications as well as enabling more users within 5 – 10 years time period making use of these dapps built upon its platform

• Shytoshi Kusama, the pseudonymous co-founder of Shiba Inu (SHIB), released a medium blog introducing Shibarium.
• The launch of Shibarium was delayed due to Kaal’s absence from the team.
• The blog encourages users to burn SHIB on every Shibarium project and prioritize “Do Our Own Research (D.O.O.R)” for protection against scams and FUDs.

Shiba Inu Co-founder’s Update on Shibarium Launch

Shytoshi Kusama, the pseudonymous co-founder of Shiba Inu (SHIB), released a medium blog introducing Shibarium in order to provide details about the project and what sets it apart from other emerging blockchains. The launch date was previously assumed to be February 14th based on Shytoshi’s Twitter bio, but this was delayed due to Kaal’s absence from the team due to his father’s demise.

Burn SHIB on Every Project

The blog encourages users to burn SHIB on every Shibarium project as a way of expanding the Shiba ecosystem and bolstering decentralization. This is one of four basal values that are necessary for success – Burn, Protect, Help, and Grow – which should be prioritized by all users in order to ensure success.

Prioritize DOOF

In addition to burning SHIB, users are encouraged prioritize “Do Our Own Research (DOOF)” when engaging with projects in order help mitigate scams and FUDs as much as possible. By doing so, people can receive feedback from others in order make informed decisions about their investments or involvement with certain projects or initiatives.

Social Media Activity

The crypto Twitter has been active recently discussing snapshots involving Shytoshi Kusama which hinted at the L2 blockchain’s launch date prior to its introduction via medium blog post Although the launch date has yet to be officially announced by the team, social media activity indicates that it could happen sooner rather than later if all goes according plans set forth by Shytoshi himself .

Conclusion

Overall, this medium blog post serves as an introduction into what makes Shibarium unique compared other blockchains while also providing insight into how investors can protect themselves against scams and FUDs through research and collaboration within the community itself. Despite delays caused by developer Kaal’s absence due mourning his father’s demise,, there is still excitement surrounding this blockchain technology that many believe could revolutionize online transactions in some way once launched .

• UNest and Wealth have partnered to bring together financial and estate planning tools for families and individuals.
• UNest customers receive exclusive discounts on Wealth’s suite of products, as well as a $25 reward deposited in their UNest account when they purchase a will or trust from Wealth.
• The goals of both companies are to make complex financial solutions available to everyone in an easy and affordable way.

UNest & Wealth Strategic Partnership

UNest, a leading fintech company that makes it easier than ever for parents to invest in their kids’ future, has announced that they have partnered with Wealth, an emerging leader in digital estate planning. This strategic partnership brings together two category leaders that share a focus on helping families and individuals address the financial requirements of key life stages.

Benefits For Customers

Through this partnership, members of both platforms will access special resources and pricing to address some of the most critical aspects of financial and life planning. UNest customers get an exclusive discount on Wealth’s suite of modern estate planning products. In addition, UNest customers will receive a $25 reward deposited in their UNest investment account when they purchase a will or trust from Wealth.

Aligning Missions

UNest and Wealth share a similar mission to make complex and previously unattainable financial planning solutions available to more people. Since its market launch in 2020, UNest has helped over 550,000 parents and kids build a lasting financial legacy for their families through investments including traditional ETFs alongside selected crypto currencies, green funds, contributions from friends/family members, etc., with rewards from over 150 brands including Nike, DoorDash, Haven Life & Disney+.

Objectives Of The Partnership

The goal is for both companies is to help protect family assets by making complex financial solutions easily accessible and affordable for everyone. Through the app parents manage an advisor-guided portfolio while also having access to estate planning services which are vital components in creating a sound financial future for them and their kids alike.

Conclusion

The synergies between the two companies have already generated an impressive response during the pilot program which drove high levels of engagement among users – proving just how beneficial this strategic partnership is proving to be!

– Strike, a digital payments platform built on Bitcoin’s Lightning Network, has expanded its “Send Globally” product to the Philippines.
– This expansion enables fast, secure, and low-cost money transfers between the U.S. and the Philippines.
– Strike has partnered with Pouch.ph in the Philippines, enabling transfers from U.S. dollars that are received as Philippine pesos in a recipient’s bank or mobile money account.

Strike, the world’s leading digital payments platform built on Bitcoin’s Lightning Network, has announced the expansion of its “Send Globally” product to the Philippines. This expansion is a revolutionary development in traditional cross-border payment services, as it allows for fast, secure, and low-cost money transfers between the U.S. and the Philippines.

The Philippines is one of the world’s largest remittance markets, with its people and economy relying on more than $35 billion annually in money sent from abroad, including more than $12 billion from the U.S. alone. This makes it an ideal partner for Strike, which has partnered with Pouch.ph in the Philippines to enable transfers from U.S. dollars that are received as Philippine pesos in a recipient’s bank or mobile money account.

“Remittances are a broken system and Strike delivers an incredibly empowering experience for people to send money around the world in nearly an instant,” said Jack Mallers, Founder and CEO of Strike. “We’re excited to partner with Pouch.ph to advance financial inclusion and bring fast, low-cost cross-border payments via the Lightning Network to the Philippines. Our technology allows us to both improve on the existing cross-border experience and include those that have previously been excluded by legacy payment rails.”

Strike is utilizing the Lightning Network to make digital payments faster, cheaper, and more accessible for people globally, particularly in countries with a high number of unbanked individuals. With Send Globally, U.S. dollars are converted into bitcoin, which is sent through the Lightning Network to the recipient in the Philippines, who then receives the funds in Philippine pesos. This process can take as little as a few minutes, in contrast to traditional banking transfers that can take days or even weeks.

The partnership between Strike and Pouch.ph is an important step forward in increasing access to financial services for both individuals and businesses in the Philippines. It also has the potential to greatly reduce the cost of remittances for those sending money abroad, allowing them to keep more of the money they send to loved ones. This is an exciting development for both Strike and the Philippines and will have a lasting impact on the way money is sent around the world.

Bullet points
• Aptos (APT) has seen an impressive amount of gains, surpassing 300% since November lows
• Nearly 80% of the increase occurred over the last three days
• The surge appears to be driven by the overall crypto market relief since the new year

Aptos (APT) has been a shining star in the crypto market this week, as the native token of the Aptos blockchain has surged nearly 100% over a seven-day period. This impressive gain has been supported by the overall crypto market relief since the turn of the new year and has helped propel APT to a new all-time high.

APT began its impressive surge this week with a price of $7.36 – the price it had held since hitting its November low of $3. Since then, the token has seen an impressive amount of gains, with nearly 80% of the increase taking place over the last three days. As of this writing, APT is trading at $14.4 – its highest ever price, and a gain of over 300% since its November low.

The surge of APT appears to be driven by the overall crypto market relief since the turn of the new year. This has led to a surge in the prices of many digital assets, with Bitcoin (BTC) and Ethereum (ETH) both seeing significant gains in recent weeks. As the crypto market continues to rally, investors have been looking for promising tokens to buy, and APT has clearly been one of their go-to choices.

The future looks bright for APT, as the token appears to be well-positioned to continue its rally. With the crypto market continuing to gain momentum, APT could potentially see further gains over the coming weeks. In addition, the token is expected to benefit from the launch of the Aptos blockchain later this year, which could add to its value. With all these factors in mind, it appears that APT is on track to become one of the top-performing crypto assets of 2021.

• StorX Network ($SRX) is now listed on Coinstore.com, a global cryptocurrency exchange.
• Users have access to the StorX Network’s low-cost and high-efficient decentralized cloud storage network to safely store their data.
• Coinstore.com offers $SRX and the SRX/USDT pair is available for trade on the exchange.

StorX Network, a decentralized cloud storage network, is excited to announce that $SRX is now listed on Coinstore.com – a global cryptocurrency exchange with over 2,300,000 users. This listing will enable users to access the low-cost and high-efficient decentralized cloud storage network to safely store their data.

Coinstore.com is a global cryptocurrency exchange that was established in Singapore in April 2021. The exchange is on a mission to disrupt the crypto industry by bringing in “fun” in finance. The exchange will offer the SRX community a simple buy/sell crypto feature for beginners, advanced cryptocurrency spots, and futures trading dashboards. Furthermore, the SRX/USDT pair would be available for trade on the exchange.

The StorX Network’s listing on Coinstore.com will enable the community to access the platform’s about 2 million users and enjoy the fast, relatable and secure manner of trading. The listing of $SRX will also provide the community with access to the StorX Network’s low-cost and high-efficient decentralized cloud storage network.

The listing of $SRX on Coinstore.com was made available on January 23rd, 2023 at 10:15 am UTC. The deposit time was 2023/01/20 00:00 (UTC+8), the trade time was 2023/01/20 13:00 (UTC+8) and the withdrawal time was 2023/01/21 00:00 (UTC+8). The StorX Community can download the Coinstore App to trade anytime, anywhere.

The listing of $SRX on Coinstore.com is sure to provide the StorX Network community with a reliable and secure platform to trade the cryptocurrency. The listing will also make the StorX Network’s low-cost and high-efficient decentralized cloud storage network available to a larger community.

StorX Network is excited to provide its community with the listing of $SRX on Coinstore.com and aims to provide a secure and reliable platform to trade the cryptocurrency. The listing of $SRX is sure to provide the community with access to the StorX Network’s low-cost and high-efficient decentralized cloud storage network.

Die Binance Exchange hat die zwölfte vierteljährliche Verbrennung ihrer einheimischen BNB-Münzen (BNB = Binance Coin) angekündigt. Diesmal war der Prozess der größte, der jemals durchgeführt wurde, und reduzierte die Menge der im Umlauf befindlichen BNB um 3,4 Milliarden Einheiten.

Dies war nicht nur die größte symbolische Verbrennung in der Geschichte, was das Angebot betrifft, sondern auch ein Wert von 60,5 Millionen Dollar heute.

Verbrennung der BNB

Der führende Krypto-Austausch begann im dritten Quartal 2017 zum ersten Mal mit dem Verbrennen von Jetons. Damals verwendete das Unternehmen 20% der Gewinne seiner Plattform, um diese Marken zu kaufen und sie zu verbrennen. Im vergangenen Jahr, im April, hat das Unternehmen die Klausel stillschweigend aus dem Weißbuch gestrichen.

Der Zweck der Ausgabe des Weißbuchs bestand darin, zu erklären, dass die Börse die BNB eigentlich nicht zurückkauft, sondern sie einfach verbrennt. Offenbar wurden die Änderungen eingeführt, weil Gewinne bei BitQT normalerweise an Investitionsverträge gebunden sind. Nun verbrennt das Unternehmen die Wertmarken auf der Grundlage des Handelsvolumens.

“Die Menge der zu verbrennenden BNB-Münzen basiert auf der Anzahl der an der Börse in 3 Monaten getätigten Transaktionen. Nach jedem Quartal verbrennt die Binance also die BNB auf der Grundlage des Gesamtvolumens der Transaktionen”.

Aufgrund der rekordverdächtigen Verbrennung der BNB ist es zu einem Volumensprung an der Börse gekommen. Das Volumen der Termingeschäfte stieg im Vergleich zum Vorquartal um 68%, während das Volumen der Kassageschäfte einen leichten Rückgang von 4% verzeichnete.

Einige sagen, dass dies ein nutzloser Prozess sei, weil der Austausch zuvor ausgegebene Wertmarken verbrennt.

“Die Verbrennung der BNB ist für jedes Quartal geplant, bis 100.000.000 BNB endgültig vernichtet sind, was 50% des maximalen Betrags der jemals ausgegebenen BNB (200.000.000 BNB) ausmachen wird.

– heißt es in der Binance-Börse.

Die kurzfristige kryptische Zukunft wird instabil sein

Die zehntgrößte kryptische Marktkapitalisierung, die 2,6 Milliarden Dollar beträgt, kostet derzeit 17,16 Dollar und ist in diesem Jahr um 23,19% gestiegen. Messari zufolge beläuft sich sein Flüssigkeitsvorrat auf etwas mehr als 108 Millionen Dollar.

In seiner offiziellen Erklärung zu den Aussichten auf eine kryptische Zukunft sagte der CEO von Binance, Changpeng Zhao: “Ich sehe, dass die kurzfristige Zukunft sehr instabil sein wird.

“Enorme Mengen an Reichtum werden den Menschen weggenommen und durch quantitative Lockerung auf einige wenige ausgewählte Gruppen verteilt. Angesichts der Menge der gedruckten Fiats werden die Fiat-Währungen weltweit gegenüber den meisten Hard Assets an Wert verlieren. Und bei kryptographischen Währungen mit begrenztem Angebot ist Ihre Vermutung so gut wie meine, was den Empfang und den Preis betrifft.

– sagte CZ.