A recent collaboration between Crypto.com and Samsung seeks a better cryptocurrency trading experience for users. To provide a more full and seamless user experience, the collaboration entails optimising the Crypto.com software for Samsung Galaxy Z Fold devices, including the most recent Galaxy Z Fold4.
Crypto.com announced in a press release on April 27 that the new version of their app is designed to enhance trading and analysis capabilities, aiming to provide a more robust user experience.
We've collaborated with @Samsung to empower #Web3 communities with the best smartphone experience in the market.
Advanced app features on Galaxy Z Fold devices will enable increased productivity and enhanced trading & analysis capabilities.
Crypto.com is the dominant platform to offer a “tailored experience” for Galaxy Z Fold devices. Additional tools and materials will be available on a single screen. Eric Anziani, President and COO of Crypto.com, commented on the latest partnership.
“This collaboration with Samsung will allow users to experience our app like never before. Together, Samsung and Crypto.com have optimized the Crypto.com App for the large screen experience, taking advantage of the foldable form factor, to bring a more productive way of using the app for the trading and analysis of cryptocurrencies.”
Samsung has been involved in the world of cryptocurrency for some time, starting from the launch of a crypto wallet in the Galaxy S10 smartphone in 2019. This wallet, known as the Samsung Blockchain Wallet, included support for several well-known cryptocurrencies like Bitcoin and Ethereum, and it was also integrated with decentralised applications (DApps).
Additionally, the advancement of blockchain technology has been actively explored by Samsung SDS, a division of the Samsung Group.
Leading trading platform, Crypto.com, provides a variety of goods and services, such as trading, staking, and lending. Crypto.com has established itself as one of the most well-known and dependable platforms, boasting over 10 million members worldwide. The platform is renowned for its intuitive user interface and first-rate customer service.
The update gives users access to additional tools and information on a single screen, making it easier than on other mobile devices to compare a variety of tokens at once.
Partnerships are one strategy used by Crypto.com to promote widespread adoption. The business has also been growing geographically to serve more customers. It has also started listing out tokens focused on the community to meet the rising demand.
The Dubai Virtual Assets Regulatory Authority granted Crypto.com an “MVP Preparatory Licence” last month. For approved applicants, the MVP phase of the preparatory stage provided the opportunity to satisfy all prerequisites for starting MVP market operations. This indicates that once Crypto.com obtains the necessary permits to begin operating, it can “extend” the approved range of virtual asset-related operations.
Today’s strong increase was recognised by the native token of the exchange, CRO. In fact, it continued and reached $0.835, which was a level last reached in February, to establish a multi-week high. However, immediately afterward, there was a pullback. However, CRO had gained 4.91% on a daily basis and was up at $0.747 at the time of publication.
EMURGO, the blockchain technology company and one of Cardano’s founding entities has announced its upcoming hackathon, Cardano EMURGO BUILD 2023, in collaboration with DoraHacks, the world’s most active multi-chain Web3 developer community.
EMURGO has some exciting news to announce to the Cardano dev community. Read the thread🧵below and let us hear your thoughts!
The upcoming web3 hackathon, which is organized by a founding entity of Cardano, will be the biggest ever and is scheduled to commence next month. A total prize pool of $2 million will be awarded to the winners of this online event, which is open to all.
EMURGO invites all the network’s builders and those interested in building on the network to participate in their BUILD competition, which offers three different tracks to choose from and develop upon: DeFi Derivatives, Aggregators, and Zero-Knowledge (ZK).
Cardano Dev Community Excited For EMURGO’s Latest Announcement
According to community response, the network’s OG Chris stated that EMURGO is looking for someone to build a Cardano version of GMX, which includes options, futures, margin trading, and aggregators. This type of platform brings together all the Defi platforms in an ecosystem, allowing users to find the best price for their transactions.
They are looking for someone to build a Cardano version of GMX, options, futures, margin trading, aggregators = Cardano 1-inch type, brings together all the Defi platforms in an ecosystem. So from your wallet you can to a defi transaction and the aggregator will find best price
The hackathon aims to drive the growth of startup building on the network through 1:1 mentoring and workshops involving the Cardano blockchain roadmap.
It aligns with EMURGO’s focus on the network across Fintech and Infrastructure with YoroiWallet, AnzensOfficial for Cardano stablecoin USDA, emurgo_in for its devs, CardanoSpot for the community, and EmurgoAfrica for incubation and investments in the Middle East & Africa.
The investment division of EMURGO, known as EMURGO Ventures, finances projects that are compatible with the network’s ecosystem and have the potential to expand to other blockchains as well.
They recently organized a business pitch event and mini-hackathon in Thailand in collaboration with Bitkub, a digital asset leader in the country.
However, the community response to the hackathon announcement has been positive, with some expressing excitement for the event and others promoting their own projects.
EMURGO encourages everyone to follow their account for more information and to share the news with the Cardano community.
Nevertheless, the EMURGO BUILD 2023 Hackathon is a promising opportunity for developers to showcase their skills and build on the network’s growing ecosystem.
Solana, the layer-1 blockchain platform, has introduced a new solution that is expected to reduce the cost of on-chain storage significantly. The platform is known for its speed, low gas fees, and minimal environmental impact, making it the ideal choice for building Web3 experiences at scale.
1/ Solana's low fees have made it an industry leader. But thanks to a recent innovation from teams across the ecosystem, it's about to cost even less.
Introducing state compression, a new way to store data on Solana that lowers cost significantly. https://t.co/0baMJ0vOn1
With the introduction of state compression, a new method of storing data on-chain, the cost of building user-first Web3 projects is set to decrease dramatically.
The network has introduced state compression for NFTs, reducing the cost of minting by 2,400-24,000x. The technique uses Merkle trees to store data on-chain, cutting storage costs while maintaining security.
State Compression: How it Works & Who’s Using It On Solana
Several teams within the Solana ecosystem are already using state compression to power large, user-friendly experiences. Blockchain-based messaging service Dialect uses state compression to cover the minting cost of compressed NFTs for thousands of users.
Crossmint, an NFT and API tooling company, uses state compression to create integrations that enhance customer loyalty for companies worldwide. Other projects such as Helium, DRiP, and Wordcel also use state compression to bring scalable, user-first experiences to the network.
Even though state compression has the ability to hold all sorts of data on-chain, its primary use currently lies in compressed NFTs. These NFTs are similar to the regular ones but cost considerably less. Storing 100 million compressed NFTs on-chain costs approximately ◎50, whereas uncompressed NFTs require ◎1.2mm.
The cost of an NFT on Solana has significantly decreased, as every newly created compressed NFT is essentially a modification of a pre-existing tree. It is due to the implementation of state compression, a cutting-edge technology that leverages Merkle trees.
Developers can use this data structure, which is friendly to compression, to store a small amount of data on the Solana ledger and update it directly. This approach reduces data storage costs while still benefiting from the security and decentralization of its base layer.
The technology was built by developers at Solana Labs and Metaplex and is powered by RPC providers and indexers Helius, Triton, and SimpleHash, with support from Solflare, Phantom, and the Solana Foundation.
Nevertheless, with the introduction of state compression, Solana has once again demonstrated its commitment to being the best place to build scalable, user-first Web3 products.
OKX, the second-largest crypto exchange, has announced that it will turn over approximately $157 million in frozen assets related to FTX and Alameda Research to debtors in response to a motion filed today in the FTX bankruptcy proceedings.
The move comes after OKX initiated investigations following FTX’s collapse in November 2022 to determine whether there had been any FTX-related transactions on its platform. During these investigations, the exchange discovered assets and accounts associated with FTX and Alameda Research and immediately froze them, ensuring the safeguarding of the assets.
In a press release, OKX expressed their approval of the proposal and highlighted their collaboration with FTX debtors and law enforcement authorities, aiming to restore these assets to FTX users via the bankruptcy process.
This news is a significant development for FTX users who have been left in limbo since the exchange’s collapse. The return of assets will provide some relief to those who lost funds in the process and help move the bankruptcy proceedings forward.
The return on frozen assets is a positive step for the crypto industry as a whole. It underscores the importance of exchanges taking proactive measures to safeguard users’ assets and demonstrates the necessity of regulatory oversight to prevent fraudulent activities.
The announcement also highlights the critical role that Web3 technology companies such as OKX can play in ensuring the integrity of the crypto market. As the industry evolves, companies like OKX will be crucial in establishing a secure and transparent ecosystem for all stakeholders involved.
However, the decision by OKX to turn over frozen assets is a win for FTX users and the wider crypto community. It serves as a reminder that protecting users’ assets must always be a top priority for all players in the industry.
Controversy Over FTX’ Ex-CEO Legal Fee Reimbursement Request
In another FTX-related update, its ex-CEO Sam Bankman-Fried is facing fierce opposition to his attempt to reimburse his legal expenses. Lawyers representing the exchange and its creditors’ committee have filed objections to his motion to cover his court costs by directors’ and officers’ (D&O) insurance policies.
If the judge were to approve SBF’s motion, he would be placed at the top of the payout queue, which has been met with outrage from FTX’s legal team.
In their filing, they argued that it would be “unfair, inequitable, and contrary to the interests of justice” to prioritize Bankman-Fried’s legal fees at the expense of other potential claimants.
They also suggested that if the court approves his request, the insurance payout should apply to other directors and officers who have a claim to the funds.
The Official Committee of Unsecured Creditors also objected, pointing out that D&O insurance policies only apply “where they make honest decisions in the ordinary course of the business,” which they claim is not the case regarding SBF’s request.
They labeled Bankman-Fried the “alleged perpetrator of one of the largest criminal frauds in the last decade” and urged the court to decline his request.
Williams Racing and Kraken, one of the world’s largest digital asset platforms, have announced a major global partnership ahead of this weekend’s Australian Grand Prix in Melbourne.
According to the press release, Kraken will become Williams Racing’s first-ever Official Crypto and Web3 Partner, with the cryptocurrency platform’s branding set to feature on the FW45 halo and rear wing, driver race suits, and team caps for the remainder of the 2023 FIA Formula One World Championship season.
Several Formula 1 team canceled their crypto sponsorship deals due to industry challenges towards the end of 2022. Mercedes F1 ended their $27 million partnership with FTX exchange in November, Ferrari parted ways with Velas after a long-standing arrangement in January, and Alfa Romeo terminated their partnership with Vauld after issues with the crypto lender.
Kraken: Showcasing Digital Collectibles & Promoting Crypto Education
James Bower, Commercial Director at Williams Racing, expressed his pride in the partnership and noted the shared values of innovation, integrity, and commitment to providing excellent experiences for fans and clients that both companies possess.
He added that the partnership would enable Williams Racing to offer its fans cutting-edge crypto and Web3 experiences while also providing Kraken with access to new institutional clients and businesses through its network and events.
The collaboration was praised by Kraken’s Chief Marketing Officer, Mayur Gupta, who sees it as a chance to connect with enthusiasts and cryptocurrency holders in innovative ways within one of the world’s rapidly expanding sports.
Gupta said:
Kraken’s partnership with Williams Racing shows what is possible when you combine a great mission with excellence, innovation, and breakthrough performance. These are both iconic brands that have stood the test of time. We’re excited to engage with both Kraken’s and Williams Racing’s global communities, showcasing the power and life-changing impact of crypto and Web3.
Kraken will also showcase customer-owned digital collectibles artwork from leading third-party NFT projects at select Grands Prix and collaborate with Williams Racing on the design of limited-edition caps for select Grands Prix.
By prioritizing the involvement of fans and the community in its activities, Kraken intends to take part in certain fan zone initiatives organized by Williams Racing during the season. The company will establish temporary, on-site encounters in various cities featured on the schedule.
Additionally, the exchange plans to create educational and interactive content and events that focus on the importance and purpose of crypto and Web3, with the aim of captivating and informing fans, as per the press release.
Kraken, established in 2011, has 10 million clients worldwide, trading 200+ crypto assets and six fiat currencies. Its secure access, funding options, and products are well-known. However, partnering with Williams Racing will help Kraken expand its reach and raise awareness of the transformative potential of crypto and Web3.
OKX, the world’s second-largest crypto exchange, has announced the establishment of a Hong Kong entity to offer virtual asset services in the region.
According to the press release, the company also intends to apply for the virtual asset service provider (VASP) license and Type 1 & 7 licenses under the Securities and Futures Ordinance in compliance with the Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Ordinance 2022, set to take effect on 1 June 2023.
OKX has spent over a year preparing for anticipated regulatory requirements and meeting organizational, product, security, and compliance standards. According to Lennix Lai, the Managing Director of Global Institutional at OKX, regulation, and licensing are crucial to the success of the crypto and Web3 sectors.
The company sees immense potential in Hong Kong and plans to invest in talent and collaborate with regulators to build the local ecosystem.
Bing Zhao, OKX General Counsel, added that the company is committed to working with the SFC throughout the application process and will exceed the robust standards expected of virtual asset service providers under the regulatory regime.
Hong Kong has become a hub for the crypto industry in recent years, making it an increasingly important location for innovative firms, entrepreneurs, and top talent. The company will sponsor two industry conferences in Hong Kong, the WOW Summit and the Hong Kong Web3 Festival. It will participate in keynote and panel discussions to outline its growth plans.
OKX launches Turkish Lira Deposits & Withdrawals
Along with this addition to its developments, the company has recently expanded its offerings by launching Turkish Lira (TRY) deposits and withdrawals on Android, iOS, and the web.
The move is part of OKX’s strategy to deepen its focus on the fast-growing Turkish market and provide more worldwide options for users wishing to trade cryptocurrencies with TRY.
According to Haider Rafique, Chief Marketing Officer at OKX, the company’s goal is to become the leading crypto platform in Turkey. He added that the company is listening to the community about their needs and investing in the market to give the Turkish community a platform to explore, experiment, and dream up the future with OKX and other crypto companies.
To further its presence in Turkey, the company has announced its name sponsorship of Istanbul Fintech Week, which will be held on 13-14 April. OKX’s Global Government Relations Officer, Tim Byun, will deliver a keynote at the event.
Binance, one of the world’s largest crypto exchanges, has opened a new regional hub in Georgia. The move is part of the exchange’s efforts to attract top talent to the blockchain sector, facilitate educational initiatives related to digital finance, and further develop Georgia’s crypto industry.
The exchange’s Georgia team currently comprises 25 people, but with the launch of the regional hub, the exchange expects to add dozens more jobs by the end of 2023. The company also plans to step up its efforts to strengthen blockchain education and accelerate the adoption of crypto in the region.
The arrival of Binance’s new regional hub comes after months of productive cooperation with local public and private sector organizations and a series of community events.
Binance Partnerships To Advance Web3 Initiatives
Earlier this year, it announced partnerships with crypto payment gateway CityPay and GITA and launched its Charity initiative to support women-focused Web3 education and a BNB Chain hackathon.
The partnership with GITA will support the exchange’s large-scale educational and community initiatives designed to accelerate the development of the digital asset industry in Georgia.
The exchange has also signed agreements with several top educational institutions in Georgia, including the Georgian Business and Technology University (BTU), Alte University, Kutaisi International University, Georgian American University (GAU), and Caucasus University.
Under these agreements, the exchange and Binance Academy will provide educational materials and organizational support to help partner institutions up their game in blockchain education.
Vladimir Smerkis, Binance’s regional director, considers Georgia one of the region’s most innovative countries, with huge potential and interest in developing digital assets in the country.
Binance’s Georgia general manager Giorgi Chagelishvili said:
The opening of the hub in Georgia is a logical continuation of the dialogue that we started with the government last year. Thanks to the hub, we will strengthen the development of the recruiting program in the country, as well as make an even greater focus on the regional presence of Binance.”
Nevertheless, the opening of its brand-new blockchain hub in Georgia is set to strengthen the development of the recruiting program and focus on the regional presence of Binance, accelerating the adoption of crypto in the region.
Polygon has recorded a spike in transaction volume, hitting over $40 million in its network. Data analytics platform Santiment noted that this is MATIC’s biggest 8-figure move in 2023.
However, in the price movement, MATIC is still down by over 10% in the past seven days. The 9-ranked asset is currently trading at $1.1 with a slight dip in the last 24 hours.
Notwithstanding this, the rise in transaction volume is supported by the positive attitudes of investors, who are solidly on the purchase side as development activity reaches new highs.
Polygon Transaction Volume Taps Over $40M Amid Price Drop 4
The Layer-2 Ethereum scaling solution has attracted a lot of high-profile brands to its ecosystem, especially in the Web3 gaming and NFT domain.
As reported by TronWeekly, Korea’s largest game developer, Nexon has announced that its famed Web3 game MapleStory Universe would be deployed in Polygon and to support the new game, it would be opening a private Supernet on Polygon.
The launch would expose the blockchain to the game’s over 180 million registered users
Ryan Wyatt, President of the Polygon labs acknowledged that South Korea is “a critical market,” for Web3 gaming.
Wyatt also tweeted, that with this, Nexon joined other AAA developers like Square Enix in choosing to build on Polygon.
Earlier, Square Enix, the Tokyo-based video game behemoth known for popular series like Final Fantasy and Kingdom Hearts, said that it will be collaborating with the team Polygon to introduce a gamified art-collecting experience.
Another noteworthy brand to mention is Starbucks, which just partnered with Polygon for a Web3 push, along with Meta, whose NFT is already trending on Instagram.
Polygon’s Recent Alliances With Top Brands
Other popular brands building on Polygon are Reddit, whose NFT avatars have amassed more than 3 million users, and Nike’s future digital apparel platform.
Furthermore, Immutable, a Web3 game entity, recently tapped the layer-2 blockchain as well. The two entities declared their new strategic partnership at the Game Developer conference this week.
Both sides anticipate that it would boost innovation and adoption in the emerging crypto-gaming industry.
Most recently, a well-known market leader in customer relationship management, software entity Salesforce has forged alliances with the layer 2 blockchain platform for an NFT-based loyalty program.
MetaMask, the world’s leading Web3 wallet support, has announced that it is now compatible with EIP-4361, also known as Sign In with Ethereum. The wallet’s implementation includes a “domain binding” feature that can detect signatures and approvals from malicious URLs. The addition of this feature could significantly reduce the risk of phishing attacks.
🦊MetaMask is now compatible with EIP-4361, aka Sign In with Ethereum!
This is part of our ongoing effort to make confirmations more legible to our community. Our implementation also offers a “domain binding” feature, which will detect signatures/approvals from malicious URLs. pic.twitter.com/2jkFRhLDsx
In a recent tweet, MetaMask announced that it has partnered with SpruceID, the toolkit for decentralized identity, to implement this feature. The company supports SpruceID’s efforts to help users control their identity and data across digital interactions.
The community’s response to the tweet has been mixed. Some people have praised the move, with one user calling it “amazing news.” Others have expressed frustration with their token airdrops and have asked when MetaMask’s own airdrop will occur.
One user wrote, “Wen $Mask airdrop?” while another said, “Sorry but I have to ask this, ‘wen airdrop see?'” However, it seems that MetaMask is not currently planning an airdrop.
Despite the mixed reactions, many users are excited about the possibilities that its new feature could bring. One user asked when the wallet will support NFT domains from Unstoppable Web, saying that they are “burning hot” in the digital identity space.
However, the addition of the “domain binding” feature to MetaMask’s wallet could have a significant impact on the security of its users’ data and assets. The partnership with SpruceID is another step in the company’s ongoing efforts to make confirmations more legible to its community.
MetaMask Launches Staking Marketplace: Four Vendors To Manage Ethereum Staking
Moreover, MetaMask Institutional has announced the launch of a staking marketplace for its institutional clients, providing an avenue for the creation of new Ethereum validators. The marketplace will allow institutions to manage Ether staking through four vendors, including ConsenSys Staking, Allnodes, Blockdaemon, and Kiln, simplifying the complexity of institutional staking.
MetaMask Institutional has been live since October 2021, offering a platform with a wider set of controls and functionality more suited to organizations and businesses. The launch of the staking marketplace will coincide with the rollout of an advanced dashboard, including institutional controls, portfolio management, digital asset monitoring, and transaction reporting.
The move comes amid a shift from liquid staking to 32-ETH staking, with Ethereum’s Merge and Shanghai/Capella upgrades on the horizon. MetaMask Institutional’s staking marketplace aims to simplify access and management of solo staking, enabling institutions to become Ethereum network validators.
The service’s focus is to solve for Eth2 staking, given the importance of data validation of Ethereum in the present and future. MetaMask Institutional rolled out access to ETH LP pool staking through Lido and Rocket Pool protocols in January 2023, giving institutions initial access to DeFi pool staking.
In a major development for the world of Web3, ZettaBlock, and QuickNode have announced their partnership with Polygon for the upcoming zkEVM Mainnet Beta Launch on March 27th.
The news was confirmed through tweets by both ZettaBlock and QuickNode, who expressed their excitement to be a part of this game-changing project.
We’re thrilled to announce that ZettaBlock is partnering with @0xPolygon for the #zkEVM Mainnet Beta Launch on March 27th! As a launch participant of the ecosystem, we're ready to help shape the future of Ethereum scaling. The future is purple, and we're so excited for it! 💜 pic.twitter.com/VnjcyZPolv
Polygon Labs, the developer of zkEVM, also shared details about the launch, stating that it represents the next phase of Ethereum scaling on Mainnet BETA.
The new system will enable Ethereum developers to deploy their smart contracts while maintaining Ethereum’s inherent security and offering fast finality and low transaction costs. It is a major milestone in the ongoing efforts to support the creators of web3 and elevate the world of decentralized applications.
The community has responded with enthusiasm to the news of the launch, with many expressing their excitement for the future of Polygon. Some have even marveled at how the network has managed to partner with every major brand in the industry while still suffering from a low token price.
Polygon Labs Breaks Down Features Of zkEVM
Polygon Labs has broken down the features of zkEVM that the community can expect from the upcoming launch. The first feature is EVM-equivalence, which will provide a clear path to achieving EVM equivalence type 2 for zkEVM rollup.
Polygon Labs is preparing for the end-game of Ethereum scaling.
Since we’re closing in on the launch of Polygon zkEVM’s Mainnet Beta, we wanted to break down what this next-gen system will unlock for the community, FEATURE BY FEATURE👇🏽
This means higher TPS performance and cost reductions are on the horizon. The second feature is speed, as zkEVM harnesses the power of ZK proofs to decrease transaction costs and increase throughput while maintaining Ethereum L1’s security.
The third feature is bridge security, which ensures the security of all cross-chain interactions. Finally, the fourth feature is low costs, as zkEVM will enable low-cost transactions for everyone using web3 applications.
The Polygon zkEVM Mainnet Beta Launch is expected to be a much-anticipated event for the blockchain community. It is a significant step forward in the development of Web3 and the future of blockchain technology.
However, with the support of ZettaBlock and QuickNode, and the many other major brands that have partnered with Polygon, the future of Web3 looks bright indeed.
