Während sich das Bankenwesen zunehmend von der Kryptobranche abkoppelt, betont die Gemini, dass ihre Geschäftsbeziehung zur JPMorgan von diesen Entwicklungen unberührt bleibt.
Silvergate stock just crashed again: explore why
- Silvergate Capital Corp says it has decided to wind down operations.
- The crypto company will liquidate the Silvergate Bank as well.
- Silvergate stock is now down close to 75% versus the start of 2023.
Shares of Silvergate Capital Corp (NYSE: SI) crashed about 40% in extended hours on Wednesday after the crypto bank confirmed that it has decided to wind down operations.
Silvergate to liquidate the ‘Bank’ as well
The announcement arrives about a week after Silvergate Capital Corp delayed the submission of its annual 10-K report. In a press release today, it also revealed plans of liquidating the Silvergate Bank.
In light of recent industry and regulatory developments, Silvergate believes that an orderly wind down of Bank operations and a voluntary liquidation of the Bank is the best path forward.
The California-based company has been struggling for a while and opted to lower its headcount by 40% in January. Versus the start of the new year, Silvergate stock is now down close to 75% at writing.
Silvergate discontinues its crypto-payments network
Silvergate Capital Corp has picked Centerview Partners LLC as its financial advisor while Cravath, Swaine & Moore LLP will act as its legal advisor through the process. The press release also reads:
Bank’s wind down and liquidation plan includes full repayment of all deposits. The Company is also considering how best to resolve claims and preserve the residual value of its assets.
Last week, the crypto company discontinued one of its core offerings – the Silvergate Exchange Network (SEN) but clarified that its other deposit-related services were still operational.
Silvergate currently has more than $11 billion in total assets. It’s the only crypto bank other than its bigger rival Signature Bank that has over $114 billion instead.
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Crypto News Shows Broader Market Stall, But Investors Are Still Swarming To Metacade
The beginning of 2023 saw further positive signs of improvement for crypto markets, which have had to endure a prolonged period of red candles for most of 2022. A spattering of green has produced some positive sentiment across the wider industry, although judging by certain price movements and the crypto news over recent weeks, the market is seeing signs of a plateau.
While the markets can change faster than crypto news can keep up, one thing that crypto news sites have all been in agreement on is the flood of ferocious interest, focused intensely on the presale of a disruptive new project called Metacade.
This project has been turning heads across the entire crypto scene, in no small part thanks to the revolutionary plans laid out in its recently released whitepaper. Metacade’s remarkable strategy could see it taking a leading role in the explosive development of GameFi expected over the next few years, delivering huge returns for holders of its utility token, MCADE.
Metacade: potentially one of the best crypto to invest in now
Seasoned investors appreciate that the best time to get in on a project, to generate huge returns that everyone dreams of, is in its early presale stages. By acquiring tokens as early as possible, investors can capitalize on significant growth, and it’s well understood now that these opportunities can turn into incredible gains.
It’s exceedingly rare to be able to invest early in a project with such high potential, but Metacade is clearly a project which falls into this category. It certainly explains why the project has seen incredibly heated presale action, already raising an unprecedented $9.4m in just the first 15 weeks, with the presale now on stage 6.
With GameFi bringing all of the benefits of decentralized finance (DeFi) to the $200 billion gaming market, Metacade has a potential total addressable market (TAM) of 3 billion gamers worldwide — a number of target customers that most projects can only dream of.
Can MCADE reach $5 in 2025?
With the amazing potential of the project established, many are now looking at just how high MCADE could reach. With many projects in the GameFi arena already having posted strong performance, they can offer some guidance as to a floor price for the future of MCADE.
Looking back to the cryptocurrency prices at the height of the 2021 bull run, GameFi project Axie Infinity reached a market cap of around $10 billion. Metacade seems set to comfortably exceed the performance of the Axie Infinity ecosystem, and with the MCADE token benefiting from just 2 billion tokens in its supply, this would result in an MCADE price of $5.
Of course, MCADE could go even further than this, but as a $5 MCADE represents a 250x from the end of presale price, this could still mean unbelievable returns for investors savvy enough to get in early.
What is Metacade?
Metacade is an incredible new project that is putting itself at the heart of the GameFi revolution. The Metacade team has outlined its plans to construct the biggest play-to-earn arcade of its kind, which could have a huge impact on the way that people game.
The project has a robust rewards system that rewards players for enjoying games of all types, regardless of whether their preferred playstyle is casual or more competitive. The platform also benefits from a number of smart design choices, such as the extension of rewards to non-playing activities that benefit the ecosystem. In creating these systems, many believe that Metacade should see consistently strong user growth over time.
The project uses a utility token called MCADE to enable its ecosystem, with the token acting as the currency for all exchanges of value across the platform, as well as having a number of practical use cases.
Metacade could be an incredible investment choice
The coming years are likely to represent an extended period where Metacade begins to lead the crypto market and dominate crypto news. Its projected user base is expected to be massive, and once the platform goes live later in the year, there will be substantial demand to drive up the token price. This, coupled with the investor-friendly tokenomics and staking options, means that Metacade is incredibly well-positioned in order to capitalize on its vision.
Those users who are able to get hold of MCADE during its frenzied presale (with now only 3 stages remaining) are likely to have an exciting year ahead of them in the world of cryptocurrency prices. With more and more investors realizing the platform’s incredible potential, the presale is all but guaranteed to sell out sooner than later.
You can participate in the MCADE presale here.
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Verichains issues security advisories on security vulnerabilities on Tendermint Core
- Verichains has identified several significant vulnerabilities on Tendermint Core
- Projects using IAVL proof verification in Tendermint Core are advised to secure their assets to mitigate exploitation.
- Many popular projects including BNB Smart Chain (BSC) are built on Tendermint
Leading blockchain security firm Verichains has identified several significant vulnerabilities in Tendermint Core and as part of its Responsible Vulnerability Disclosure Policy has released two public advisories.
The first advisory titled VSA-2022-100 discusses a critical Empty Merkle Tree vulnerability in the IAVL proof. The second advisory is titled VSA-2022-101 and discusses a critical IAVL Spoofing Attack via multiple vulnerabilities on Tendermint Core.
Verichain advises that projects using IAVL-proof verification in Tendermint Core should secure their assets to mitigate exploitation risks.
Linked to recent BNB Chain bridge hack
Tendermint BFT consensus engine and Cosmos SDK are popular blockchain platforms that are used by several popular blockchain projects including the now defunct Terra (LUNA), Band Chain, OKX Chain, and BNB Smart Chain (BSC).
Verichains indicated that it discovered the Tendermint Core vulnerabilities while working on the BNB Chain bridge hack that took place in October last year. Security specialists, who identified the critical IAVL Spoofing Attack via multiple vulnerabilities found in BNB Chain and Tendermint, say it could have resulted in a significant loss of funds.
However, although the vulnerabilities were disclosed to the Tendermint/Cosmos maintainer, no patch was released for the Tendermint Core library since the Cosmos-SDK and IBC had migrated from IAVL Merkle proof verification to ICS-23.
Verichains Responsible Vulnerability Disclosure Policy
Verichains followed its Responsible Vulnerability Disclosure Policy to notify the public after the requisite 120 days. If not fixed, the critical nature of the bugs may lead to further hacks and consequent loss of funds, which in some cases could result in millions or even billions of dollars lost.
Verichains regularly posts the Security flaws and vulnerabilities that it identifies on its website for public consumption.
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The 7 Best New ICOs To Buy in 2023
Crypto ICOs and presales are some of the most lucrative investment opportunities around. Early adopters of promising crypto projects can often enjoy major investment gains, making finding the next 100x gem a rewarding endeavor.
Here are some of the best new crypto ICOs and presales that are launching right now:
- Metacade (MCADE)
- Brigade Thugs (BTHG)
- Artyfact (ARTY)
- Metablaze (MBLZ)
- Fancythattoken (FNCY)
- EstateX (ESX)
- Mr Bob Token (MRBOB)
1. Metacade (MCADE)
Metacade is one of the best ICOs to buy now. The platform combines casual and competitive gameplay to deliver a comprehensive GameFi experience. The number of different play-to-earn games in the Metacade makes it the biggest on-chain arcade, with each gaming experience offering its users the best new ICO game mechanics.
As well as this, Metacade also offers a social hub for Web3 users. The social hub offers additional earning mechanics beyond the best new crypto games in the Metacade, including Create2Earn, Compete2Earn, and Work2Earn. The focus Metacade gives to building its social aspect makes it one of the best new ICOs to buy now.
Create2Earn is one of the best features planned for the project. Metacade will reward content creators with MCADE tokens for sharing alpha, posting game reviews, and interacting with other users’ posts in the Metacade. This incentivizes GameFi knowledge-sharing in the Metacade and helps to boost the community spirit on the platform.
And finally, the MCADE token is one of the best ICOs for 2023 because it creates new job opportunities for users through the Work2Earn mechanic. This will connect crypto enthusiasts to paid work in Web3, ranging from part-time to full-time positions. Without a doubt, Metacade is right up there with the best cryptos to buy now.
2. Brigade Thugs (BTHG)
Like Metacade, Brigade Thugs aims to deliver a vast GameFi experience, which is a reason the project is one of the best ICOs to buy now. This play-to-earn combat game offers a variety of standout features including integrated financial rewards and seemingly endless NFT customizable options.
Gamers can explore the vast world and complete quests while earning financial rewards for their progress. Brigade Thugs is a battle game at its core, meaning that users can team up and fight it out against enemy tribes that threaten their in-game settlement.
BTHG has recently started its token presale, which gives early-stage crypto investors a rare chance to get involved in one of the best new ICOs before it takes off. The platform is ready to become a popular title in the GameFi sector, offering dynamic gameplay, an in-depth plotline, and plenty of incentives to keep players playing for hours.
3. Artyfact (ARTY)
As GameFi continues to expand throughout the blockchain, Artyfact’s addictive gameplay and advanced graphics mean that it’s one of the best new ICO projects to invest in. Described as one of the earliest AAA game-quality projects to be released, Artyfact will deliver a ground-breaking playing experience over time.
By combining Unreal Engine 5 with Binance Smart Chain, Artyfact is able to support a hugely scalable and fully immersive gaming experience on the blockchain. The virtual world is home to many NFT collectible items for gamers to discover and unlock, with each one having ingrained financial value.
As one of the best cryptos to buy now, ARTY token remains in its earliest stage of investment. For long-term believers in the Artyfact project, this event could produce major returns. The game has a strong product-market fit and the ability to grow exponentially if it can deliver on its early promise for the future.
4. Metablaze (MBLZ)
The Metablaze platform provides a unique gaming experience bolstered by some of the most advanced blockchain capabilities, undoubtedly making it one of the best new ICOs to buy now.
With many innovative gameplay features and mechanics, Metablaze is sure to become one of the most beloved crypto games within its genre. At its core, Metablaze is an NFT collectible card game and a top contender for the best new ICOs to hit the market. As one of the best new crypto games, players can buy, sell and collect NFTs while generating a steady income stream through P2E mechanics.
Users can explore the open world to find treasure, battling against the environment or other players and completing challenges. As this new project stands to bring immense potential in the future, making the Metablaze presale one of the best new ICOs to invest in now.
5. Fancythattoken (FNCY)
The I Fancy That brand is now introducing Fancythattoken – a new token on the blockchain to facilitate digital asset payments. With FNCY, users can process transactions on the platform through a tailor-made cryptocurrency wallet and exchange that perfectly suits the business’ needs.
The release of FNCY comes with several blockchain services to give holders the best user experience possible, which is a key reason why it’s one of the best ICOs to buy now. The platform gives token buyers access to an expansive selection of real estate products offered by the brand, which range across several major industries.
The crypto wallet and integrated digital asset exchange provide an easy way for anyone to transact using decentralized technologies. On top of this, I Fancy That will launch a Visa debit card that allows users to spend their FNCY tokens in stores worldwide with both ease and low fees. As one of the best new ICOs running at the moment, the FNCY token presale is a fantastic investment opportunity.
6. EstateX (ESX)
EstateX is a revolutionary blockchain solution that opens the real estate market to interested parties worldwide. This fractal investment method allows users to purchase a part of many real buildings, with every listed property able to be bought, sold, and traded for a profit.
What’s more, the unique value of EstateX lies in the fact that it is an accessible entry point into the property ladder and equalizes access to real estate investment. For this reason, the ESX ICO is a promising investment opportunity that may produce major gains in years to come.
EstateX is one of the best new ICOs to buy now because it combines traditional real estate investment with brand-new technology and could capture a significant portion of the market. EstateX is the best new crypto to try out for anyone looking to trade tokenized real estate.
7. Mr Bob Token (MRBOB)
Mr Bob is a unique meme-inspired GameFi platform that combines the best elements of blockchain gaming and virtual reality technologies. As an expansive metaverse world, users can explore freely while making friends in Mr Bob and earning integrated financial rewards through play-to-earn mechanics.
As one of the best new ICOs being launched right now, Mr Bob delivers endless fun with advanced incentive structures. These kinds of projects have historically performed very well, which highlights Mr Bob’s potential as one of the best cryptos to buy now.
The MRBOB token is launching during a crypto presale event. These ICOs can be some of the most lucrative investment opportunities in Web3, and Mr Bob’s fun GameFi platform can help make any early participant some impressive gains. It’s certainly one of the best cryptos to buy now for anyone looking to diversify their investment portfolio with early-stage gems.
The best investment opportunity of the year?
Metacade is building the biggest on-chain arcade with the largest selection of P2E games on any crypto platform. As well as this, the project is helping to drive progress in GameFi by creating jobs for blockchain users and funding developers through the Metagrants program.
With such high long-term potential for the best new crypto project, the MCADE token presale is a no-brainer. The token launched at just $0.008 per token and will rise to $0.02 throughout the event. This gives investors a limited time only to get involved in the number one project on this list especially with the end of the presale in sight.
You can participate in the Metacade presale here.
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