Author: Ava Patel

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Ava Patel

Ava Patel's expertise lies in creating engaging and informative content about the latest trends, developments, and opportunities in the crypto space. Her writing is known for its clarity, accuracy, and ability to convey complex concepts in a way that is accessible to both novice and advanced readers.

Articles by Ava Patel

A group of developers working on the Terra Classic blockchain

Terra Classic Developers Push Back V2.1.0 Upgrade

2 hours ago 1 min read

The L1 Joint Task Force (L1JTF), a group of developers working on the Terra Classic blockchain, has announced that the v2.1.0 upgrade will be delayed from May 31 to June 14. The delay is due to the need for additional testing. The v2.1.0 upgrade is a major update that will introduce a number of new features to Terra Classic, including: The L1JTF team has been working hard on the v2.1.0 upgrade and is confident that it will be a major improvement for Terra Classic. However, the team also wants to make sure that the upgrade is thoroughly tested before it

The price of Floki (FLOKI) spiked over 10% and saw its highest trading volumes jump to over $60 million

Floki Inu Trading Volume Jumps to Over $60 Million as China Considers Crypto Regulation

6 hours ago 1 min read

The price of Floki (FLOKI) spiked over 10% on Sunday and saw its highest trading volumes in over three weeks. The spike comes as the cryptocurrency’s developers announced a focus on China as a target market for its Valhalla metaverse game. Trading volumes for FLOKI jumped to over $60 million on Sunday, up from last week’s $25 million average. The spike comes as ads for Floki’s Valhalla game featured in some Chinese sporting tournaments. This could have attracted some speculators who hypothesized that the move might attract new traders from China. “We’re seeing a lot of new interest from China,”

China has released a white paper on Web3

Is China’s Web3 White Paper a Bullish Sign for Crypto?

1 day ago 2 mins read

China has released a white paper on Web3, signaling a potential shift in the country’s stance on cryptocurrencies. The white paper, titled “Web3 Innovation and Development White Paper (2023),” was released by the Beijing Municipal Science & Technology Commission (Zhongguancun Chaoyang Park). The white paper defines Web3 as “the third generation of the Internet,” and it emphasizes the technology’s potential to “reinvent the Internet.” The white paper also acknowledges the rapid growth of emerging applications like digital populations and collections. However, the white paper also recognizes the development challenges and the need for policy changes. The white paper proposes that

China's Zhengzhou

China’s Zhengzhou Unveils Metaverse Development Strategy

3 days ago 1 min read

The Chinese city of Zhengzhou has announced a series of policy proposals to support the development of the metaverse industry in the region. The plan includes a dedicated fund worth 10 billion yuan ($1.42 billion) to foster growth and development in the industry. The plan also includes a number of incentives for metaverse companies, such as startup capital investments, rent subsidies, and cash rewards for companies that list on China’s primary stock exchanges. The Zhengzhou government believes that the metaverse has the potential to become a major economic driver for the city. The plan aims to make Zhengzhou a leading

Mastercard's Chief Executive

Mastercard’s Chief Executive Sees Blockchain as Key to Financial Services Future

3 days ago 1 min read

Payment giant Mastercard believes that crypto and blockchain technologies have the potential to revolutionize the financial services industry. However, the company says that these technologies need to address security and ease of use issues in order to build trust with consumers and businesses. In a recent speech, Mastercard’s EVP of crypto and blockchain, Raj Dhamodharan, said that the company is “very bullish” on the potential of crypto and blockchain. He noted that these technologies have the potential to make payments faster, cheaper, and more secure. However, Dhamodharan also acknowledged that there are challenges that need to be addressed before crypto

Ripple, the company behind XRP

Ripple Invests in $40M Fund to Support Decentralized Infrastructure

5 days ago 1 min read

Ripple, the San Francisco-based blockchain company, has announced that it has led a $40 million investment in a new fund focused on decentralized infrastructure. The fund, called Dispersion Capital, will invest in early-stage companies that are building decentralized infrastructure, such as decentralized finance (DeFi) platforms, decentralized exchanges (DEXes), and decentralized storage solutions. Dispersion Capital is led by Patrick Chang, who previously worked at Samsung Next, where he led the company’s blockchain investments. Chang said that he believes that decentralized infrastructure is the future of the Internet and that Dispersion Capital is committed to supporting the companies that are building it.

Hong Kong's Crypto Exchanges to Open to Retail Investors

Hong Kong to Allow Retail Investors to Trade Crypto, with Restrictions

6 days ago 1 min read

The Securities and Futures Commission (SFC) in Hong Kong announced today that it will soon allow licensed crypto platforms to serve retail investors. The SFC said that operators of virtual asset trading platforms who are willing to comply with its proposed guidelines are welcome to apply for a license. The guidelines to be followed for virtual asset trading platforms will include aspects such as asset custody safety requirements, segregation of client assets, and cybersecurity standards. While the guidelines will become effective as of June 2023, the SFC has yet to approve any virtual asset trading platform to provide services to

A 57-year-old Las Vegas resident was charged to commit wire fraud and money laundering in connection with a $45 million crypto scam.

Las Vegas Man Charged in $45M CoinDeal Crypto Scam

1 week ago 1 min read

A 57-year-old Las Vegas resident, Bryan Lee, was charged on May 19, 2023, with conspiring to commit wire fraud and money laundering in connection with a $45 million cryptocurrency scam. According to the U.S. Department of Justice, Lee conspired with the main culprit behind the scam, identified as 44-year-old Ukrainian national Dmitrii Dudchenko, to defraud investors by falsely claiming that CoinDeal was a legitimate cryptocurrency exchange. Dudchenko, who is currently at large, allegedly created CoinDeal in 2017 and used it to lure investors with promises of high returns. However, the exchange was actually a Ponzi scheme, and Dudchenko used investors’

Wormhole Ventures Launches $50M Fund to Support Cross-Chain Projects

Polygon, Solana, and Algorand Launch $50M Cross-Chain Investment Fund

1 week ago 1 min read

Leading blockchains Polygon, Solana, and Algorand have announced a joint $50 million investment fund to support cross-chain projects. The fund, called the Wormhole Fund, will be used to invest in projects that are built on multiple blockchains. The Wormhole Fund is a significant development in the cross-chain space. By investing in projects that are built on multiple blockchains, the fund will help to accelerate the adoption of cross-chain technology. Cross-chain technology allows users to transfer assets and data between different blockchains. This can be a major benefit for users, as it allows them to access a wider range of dApps

The European Commission has approved a new tax directive that will require crypto companies

EU Approves New Tax Rules for Crypto Companies

1 week ago 2 mins read

The European Commission has approved a new tax directive that will require crypto companies to report certain information to tax authorities. The directive is part of a broader effort by the European Union to regulate the cryptocurrency industry and curb crypto crime. The directive requires crypto companies to report information on transactions, including the identity of the parties involved, the value of the transaction, and the date of the transaction. The information must be reported to tax authorities in the European Union where the transaction takes place. The directive also requires crypto companies to keep records of transactions for at

The Cardano (ADA) staking value has been steadily increasing

Cardano Staking Value Surpasses $148 Million

1 week ago 1 min read

The Cardano (ADA) staking value has been steadily increasing in recent months, and it is now nearing the 400 million ADA mark. The current total value locked (TVL) is 398.55 million ADA, which is equivalent to $148.55 million. This growth is being driven by a number of factors, including the increasing popularity of DeFi on Cardano, the launch of new staking pools, and the overall growth of the Cardano ecosystem. DeFi on Cardano has been growing rapidly in recent months. The Cardano DeFi ecosystem now has over 20 projects, including lending protocols, decentralized exchanges, and yield farming platforms. The launch

Binance Australia has announced that it will be suspending Australian dollar (AUD) deposits

Binance Australia Suspends AUD Deposits and Withdrawals

2 weeks ago 1 min read

Binance Australia has announced that it will be suspending Australian dollar (AUD) deposits and withdrawals via bank transfer. The suspension will take effect on May 18, 2023. Binance Australia said that the decision to suspend AUD bank transfers was made by its third-party payment service provider. The company said that it is working to find an alternative provider to continue offering AUD deposits and withdrawals to its users. In the meantime, Binance Australia users will still be able to deposit and withdraw AUD using credit or debit cards. Users will also be able to use the Binance P2P marketplace to

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