Crypto News by Satoshi Club

🇺🇸The U.S. SEC has concluded its investigation into Paxos with no enforcement action against the company regarding its Binance USD $BUSD stablecoin This decision follows a Wells Notice issued last year, suggesting potential action. Paxos has maintained that BUSD is not a security under federal laws and views the end of the investigation as a positive development, likely spurring further stablecoin adoption.

🖼️Ubisoft is incorporating NFTs into its upcoming RPG, Champions Tactics This integration will leverage the HOME Verse blockchain, certified by Oasys. Despite previous market challenges with NFTs, Ubisoft continues to explore blockchain technology, aiming to enhance the gaming experience with unique digital assets.

Tron is developing a gas-free stablecoin solution aimed at addressing the high transaction fees associated with decentralized finance This initiative involves leveraging technologies that allow transactions on the Tron network to be executed without incurring traditional gas fees, which are typically a significant barrier for users. One of the key strategies being employed is the use of meta-transactions, where the gas fees are paid by liquidity providers instead of the end-users. This approach enhances the user experience by eliminating the need for users to manage and pay for transaction costs, thus making DeFi more accessible and user-friendly. Additionally, Tron is exploring the potential of staking mechanisms to offset gas fees. By staking TRX, users can earn energy and bandwidth, which are used to cover transaction costs, thereby enabling gas-free transactions for TRC-20 tokens. This not only makes transactions more cost-effective but also promotes greater network efficiency and scalability

📈**Polymarket, a prediction market platform, experienced record trading volumes in June 2024, reaching $111.56 million** This surge was driven by bets on the 2024 U.S. presidential election, particularly during the first debate between Donald Trump and Joe Biden, which alone saw $8.2 million in betting volume. The platform now holds over 85% of the global market share for election betting, with popular bets focusing on the election winner, party nominees, and key political figures’ participation.

⏳Mt. Gox creditors may need to wait up to three more months to receive their Bitcoin repayments Initially expected to start from March 10, 2023, with a final deadline of September 30, the repayment process has now been extended to October 31, 2024. This extension is due to the time required for verifying repayment information and coordinating with financial institutions. Despite the overall delay, some creditors might start receiving their payments by the end of this year, as repayments will be processed sequentially based on the submission of necessary information. The total repayment includes a mix of Bitcoin, Bitcoin Cash, and Japanese Yen, with the first 200,000 yen worth of each creditor’s claim paid in yen and the remaining amount split between crypto and fiat.

🔥DOP — Enhancing Blockchain User Privacy DOP is a platform that introduces the concept of user-controlled selective disclosure of on-chain data. Users can choose to selectively disclose certain account information and transaction details, while keeping other data points private. For example, a user could showcase their NFT publicly to build their brand, while keeping their account balances or transaction patterns concealed. Or only share transaction data with certain approved counterparties, while keeping it hidden from the general public👀 ⚔️By empowering users with control and flexibility over their data exposure, DOP enables wider mainstream blockchain adoption by those who value their financial privacy. At the same time, the project provides tools to blacklist illicit activity, maintaining accountability and ethical standards. DOP platform, built as a protocol on top of Ethereum, enables this new paradigm of selective transparency. Users can transact freely with the selectivity and control they desire over their data and visibility🚀 Today, the platform went live on Bitget, Kucoin, Gate, Bitfinex, Bybit and Mexc with $DOP, its governance and utility token. The $DOP token has two main utilities: 🔸Fees Payments: Usage of DOP’s data ownership features incurs fees payable in DOP tokens. Of the paid fees, 75% gets burned and 25% is distributed to stakers. 🔸Governance: When new proposals are introduced by the community, such as adding a new feature or changing parameters, eligible DOP holders can participate in determining the outcome through a convenient UI dashboard. For more information about the project and its token, follow the links below👇 Website | Twitter | Discord | Telegram #NFA #DYOR

🖼Ubisoft continues to pursue its interest in blockchain technology and NFTs despite mixed reactions from the gaming community The company has partnered with Immutable to enhance its efforts in the web3 space. Previously, Ubisoft launched its own NFT platform, Quartz, which allowed players to buy and sell in-game items as NFTs. However, the platform faced criticism and skepticism from gamers who were wary of the integration of blockchain elements into traditional gaming.

🏦DBS Bank has become the first financial institution to offer stablecoin custody services The collaboration with Paxos will allow DBS Bank to provide secure and regulated custody solutions for stablecoins, catering to the increasing demand for digital asset management among institutional clients.

💳Farcaster, the decentralized social network rival to X, is integrating USDC payments within its app. This development allows users to make seamless, fast, and secure transactions using USDC, enhancing the platform's functionality and user experience. The integration aims to promote the adoption of digital payments within the Farcaster community, offering an efficient way to manage and transfer funds.

📉The T-Rex Group has filed for a new ETF that offers 2x long and inverse exposure to MicroStrategy stocks This proposed ETF aims to provide leveraged and inverse performance linked to MicroStrategy's stock, allowing investors to capitalize on both upward and downward movements of the stock's price. MicroStrategy is known for its substantial Bitcoin holdings, making its stock price highly sensitive to Bitcoin's market performance. By offering both long and inverse leveraged positions, the T-Rex Group's ETF would enable investors to potentially amplify their gains based on MicroStrategy's stock volatility, which is largely influenced by Bitcoin's price fluctuations.