Kategorie: Crypto Markets

• Yuga Labs has concluded its first inaugural Bitcoin Ordinal NFT collection auction.
• The collection comprises a limited edition of 300 generative pieces inscribed on Satoshis on the BTC network.
• The auction brought in $16.5 million for the firm in 24 hours.

Yuga Labs, Inc. announced its first Bitcoin Ordinal Non-Fungible token (NFT) collection auction in late February. The collection comprises a limited edition collection of 300 generative NFT pieces inscribed on Satoshis on the BTC network.

Yuga Labs described the collection as a “base 12 art system localized around a 12×12 grid, a visual allegory for the cartography of data on the Bitcoin blockchain.”

Yuga Labs has created several NFT collections including Bored Ape Yacht Club (BAYC), spinoff Mutant Ape Yacht Club (MAYC), and virtual land plots for the Otherside metaverse game. It also owns CryptoPunks and Meebits, two “blue chip” Ethereum NFT projects created by Larva Labs that Yuga Labs purchased their IP rights last year.

The highest bidder paid 7 BTC

There were a total of 288 bidders for the Bitcoin Ordinal Non-Fungible token (NFT) collection auction and the highest bidder paid 7 bitcoins (BTC).

The auction which was conducted on the TwelveFold NFT marketplace has been concluded and it has netted a total of (735 Bitcoin) $16.5 million in 24 hours.

Yuga Labs in a tweet said that the bid winners of the NFTs will receive their inscription in one week’s time and the successful bidders will be refunded their bid amounts within 24 hours.

However, despite the smooth running of the auction, Yuga Labs received some backlash from the crypto community over some identified flaws in how the auction was conducted.

The post Yuga Labs’ inaugural Bitcoin NFT auction nets $16.5M in just 24 hours appeared first on CoinJournal.

• USD payments suspension impacts both national and international bank transfers.
• Bybit will also pause USD withdrawals as from 10 March 2023.
• Customers can however continue to buy crypto with credit or debit cards.

Bybit, one of the world’s leading crypto exchanges, will be suspending the US dollar (USD) payment option “until further notice,” a notice issued to customers on Saturday detailed.

The move follows a similar one taken earlier this year by Binance, the world’s largest crypto exchange. CoinJournal highlighted Binance’s announcement in early February, and recently reported on how crypto-friendly bank Silvergate has increasingly found itself in trouble amid concerns about its solvency.

Bybit suspends USD deposits and withdrawals

According to the crypto platform, the suspension of USD deposits is down to service outages involving a partner. The exchange will also be halting USD withdrawals beginning 10 March 2023.

“We have temporarily suspended USD deposits via Wire Transfer (including SWIFT) due to service outages from our end-point processing partner until further notice,” the crypto exchange notified its customers.

While users can still withdraw USD via WireTransfer up to 10 March, that option will be temporarily disabled on the noted dates. Instead, customers will be able to buy crypto with credit card or withdraw cryptocurrencies to their wallet.

Notice on Suspension of USD Payments via Bank Transfer

You may continue to make USD deposits via the Advcash Wallet, or buy cryptocurrencies with your credit card on our One-Click Buy page.

More details here: https://t.co/Roae3T4pYJ#Bybit #TheCryptoArk pic.twitter.com/XAUI2AeDJC

— Bybit (@Bybit_Official) March 4, 2023

Bybit has also announced that it is delisting several cryptocurrency trading pairs. The spot trading pairs whose support ends as of 10 March include NXD/USDT, POSI/USDT, GAS/USDT, and DRIV/USDT among others. 

The delisted tokens have failed to meet listing requirements, the exchange noted.

The post Bybit suspends USD payments via bank transfer appeared first on CoinJournal.

• Silvergate bank in a filing on Wednesday said losses might leave it with less capital than it needs.
• The bank recently closed its SEN Platform which institutions used to move money to crypto exchanges.
• Coinbase, Galaxy, and Paxos have stopped accepting transfers via Silvergate Network.

USDC stablecoin issuer Circle has today announced that it has moved its USDC reserve deposits out of Silvergate Bank to other banks as the bank’s woes deepen.

In the press statement, Circle said that it had made the decision to move the small percentage of USDC it held in Silvergate because of the ongoing uncertainty at the bank. On Wednesday, Silvergate set off alarms with a filing that said losses might leave the bank with less capital than it needs, and that it was evaluating its ability to continue.  The bank also suspended preferred stock dividends.

The bank’s shares immediately started to plummet following the turn of events and key partners including Paxos Trust Co., Coinbase Global Inc., and Galaxy Digital Holdings Ltd. Cut off ties with the bank. Other crypto firms also decided to stop accepting of making payments through Silvergate.

The huge exodus of partners threatens the bank’s key source of deposits seeing that it was a major cryptocurrency player in the US.

Protecting reserve funds

In the press statement, Circle noted that its top priority is protecting the reserve funds backing USDC even if it meant cutting off ties with Silvergate Bank.

Interestingly, Circle started withdrawing its USDC deposits from Silvergate last year as signs of trouble and broader crypto asset risk exposure became increasingly visible on Silvergatee’s end.

Circle has maintained that its USDC reserves are held in the Circle Reserve Fund and several well-capitalized US banks. The Circle Reserve Fund holds 80% of the USDC reserves. The reserves are reviewed on a monthly basis by Deloitte, a leading audit firm.

The post Circle moves its USDC reserve deposits out of troubled Silvergate Bank appeared first on CoinJournal.

• CryptoUnity is a cryptocurrency exchange that seeks to make it easier for beginners to navigate the crypto ecosystem.

• The exchange doesn’t hold its users’ funds but stores them with an independent, highly regulated custodian. 

• The comprehensive research and educational resource section empowers users to learn more about cryptocurrencies. 

CryptoUnity is targeting beginners in the ecosystem

CryptoUnity is a Slovenian start-up that is building a beginner-focused crypto exchange. The cryptocurrency exchange seeks to close the gap for beginners in the ecosystem.

The user-friendly interface and comprehensive educational resources on CryptoUnity are designed to make the world of cryptocurrency more accessible and less intimidating to beginners. 

In addition to its user-friendly nature, CryptoUnity is also focusing on the safety aspect of crypto. The crypto exchange has implemented the cold wallet with an NFC card, providing its users with a secure way of storing funds.

Its partnership with Lenovo, one of the leading tech companies in the world, also serves as a positive for the company. 

The crypto space is all about transparency, and CryptoUnity also pays attention to that. So far, CryptoUnity has passed audits by QuilAudits and CertiK. The project received a CertiK KYC Gold badge (meaning that the entire core team provided the highest amount of verifiable background information, demonstrating a very high level of transparency and accountability).

The CUT token powers the CryptoUnity ecosystem

CUT is the utility token that powers the CryptoUnity ecosystem. The token has a total supply of one million and provides holders with many different benefits and utility cases on the CryptoUnity platform. 

Besides profiting from lower fees and other loyalty programs, users can leverage CUT to access further education and secure a spot in other legitimate ICO presales. With the development of the platform, additional utility cases are expected.

Holders of the token also get to enjoy other benefits, including airdrops, holder rewards, and advantages on giveaways. 

Perhaps the best part of CryptoUnity is its platform. The CryptoUnity platform combines all of the necessary tools and resources for easy trading, safe storage, and education.

The platform has various sections, including;

• A portfolio, where the user can keep track of his funds and base price.

• A cold wallet with an NFC card.

• CryptoUnity Workshops: the educational part of the platform

• CryptoUnity Research: where reviewed potential ICOs will be published, and 

• Physical traveling exchanges.

CryptoUnity claims it is one of the first centralised exchanges that doesn’t hold their users’ funds. The funds are securely stored with an independent, highly regulated custodian, meaning that those funds are completely separated from those of the project and can, therefore, not be manipulated or influenced by the company’s operations or potential financial challenges. 

The post CryptoUnity exchange targets beginners in the crypto ecosystem appeared first on CoinJournal.