December 18, 2024 – Dubai, India Sophon has launched its mainnet, introducing the first-ever Validium on ZKsync powered by Avail DA . With over $500 million in TVL (total value locked) through the Sophon farming program , and a growing ecosystem of established partners, Sophon is paving the way for scalable, consumer-focused blockchain applications. The launch comes with significant community support – over 120,000 node licenses purchased by more than 5,800 unique participants are now open for claiming. The SOPH token deploys today in a non-transferable state, with all transactions free for users during this initial phase. Node holders will begin getting rewards from January 1, 2025, with full token transferability and trading expected in Q1 2025. Launch partners driving adoption Sophon’s consumer-first approach focuses on delivering user experiences that encourage mainstream crypto engagement. Debuting with industry leaders selected for their ability to bring blockchain benefits to everyday users. Mirai Labs – Leading mobile gaming studio with over 27 million onboarded wallets to date OPEN Ticketing – Already powering over 7 million tickets across 24,000 events globally Aethir – Delivering next-generation distributed computing solutions Rivalry – The publicly listed betting company bringing community ownership to the billion-dollar betting industry Anomaly – AI-Powered agent orchestration across Reddit, Telegram and Discord NooN, Brutal Knights, Gamp and more Pioneering consumer-first crypto Sophon understands that mainstream users prioritize experiences and value over the underlying blockchain technology. By focusing on entertainment applications that naturally benefit from blockchain’s capabilities, Sophon is creating an ecosystem where the technology enhances rather than complicates the user experience. This vision is reinforced through strategic collaborations with industry pioneers, like Beam, which is launching the first gaming-focused fund and accelerator in Abu Dhabi with a target size of $150 million. Sophon is a strategic partner in this accelerator, supporting the advancement of blockchain-based gaming. Additionally, Sophon has seeded the $40 million Tactical Compute initiative , targeting projects building at the intersection of crypto and AI. These partnerships ensure Sophon is not just building infrastructure – it’s contributing to the growth of the entire ecosystem. History in the making Sophon’s mainnet launch is the first-ever Validium on ZKsync to leverage an external data availability layer powered by Avail, bringing unmatched scalability, security and savings. By using Avail’s modular application development stack to create its own ‘light nodes,’ Sophon ensures high performance, maintaining full decentralization and data availability, working to set a new standard for modular blockchain designs. Anurag Arjun, co-founder of Avail, said, “Sophon embraces the full potential of the Avail Network, illustrating how blockchains can maintain provable decentralization even in high-volume use cases like entertainment.” ZKsync is a protocol to deploy layer-two blockchains designed to scale Ethereum while maintaining data privacy through a Validium implementation utilizing Avail DA. The ZK (zero-knowledge) protocol is leveraged to effectively scale the network while also enhancing interoperability Alex Gluchowski, co-inventor of ZKsync, said, “Sophon’s mainnet launch on ZKsync marks a pivotal moment in the evolution of blockchain technology. “As a ZKsync Validium leveraging Avail, Sophon is poised to transform the industry by offering enhanced scalability, security and cost-efficiency. “With a strong focus on user experience and a growing ecosystem of innovative partners, Sophon is well-positioned to unlock the full potential of blockchain for consumers around the world.” This modular architecture establishes a new benchmark in blockchain design, making Sophon well-suited for high-throughput applications aiming for mainstream adoption. Sebastien, co-founder and CEO of Sophon, said, “The internet didn’t need to explain how it worked to change the world. Crypto shouldn’t either.” “Sophon is building the destination where digital culture, entertainment and value seamlessly flow together – making crypto a natural part of everyday lifestyle applications. Today is day zero of that journey.” About Sophon Sophon is the ultimate platform for next-gen entertainment applications, spanning everything from gaming to AI-powered experiences. It’s primed to be the go-to destination for entrepreneurs and major players in the entertainment industry looking to build their products onchain, offering users novel ways to earn, engage and enjoy themselves. To learn more about Sophon, users can visit the website . Media contact – Oskari Tempakka About Avail The Avail Network is a modular application development stack designed to establish blockchains as the verification system for the internet. By addressing key challenges in rollup scalability, interoperability and usability, Avail provides a foundational DA (data availability) layer built on the same technology planned for Ethereum’s danksharding roadmap, including KZG Commitments and DAS (data availability sampling). Avail is led by Polygon’s former co-founder Anurag Arjun and research lead Prabal Banerjee. Start your Avail journey today. To learn more about Avail, users can visit the website . Media contact – Luke Richardson About ZKsync ZKsync is the pioneering ZK (zero-knowledge) technology powering the next generation of builders with limitless scale. Secured by math and designed for native interoperability, ZKsync enables the elastic network, an ever-expanding ecosystem of customizable chains. Deeply rooted in its mission to advance personal freedom for all, the ZKsync technology makes digital self-ownership universally available. To learn more about ZKsync, users can visit the website . Contact Annu Shekhawat , Avail This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility. Follow Us on Twitter Facebook Telegram Check out the Latest Industry Announcements The post Sophon Mainnet Goes Live With $500 Million Total Value Locked and Strategic Industry Collaborations appeared first on The Daily Hodl .
Musk Loves Bitcoin could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did. Musk Loves Bitcoin (MUSKBTC), a new Solana memecoin that was launched today, is set to explode over 13,000% in price in the coming days. This is because MUSKBTC is set to soon be listed on numerous crypto exchanges, according to reports. This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up. Currently, Musk Loves Bitcoin can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days. Early investors in SHIB and DOGE made astronomical returns, and Musk Loves Bitcoin could become the next viral memecoin. Musk Loves Bitcoin launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains. How to Buy To buy Musk Loves Bitcoin on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Musk Loves Bitcoin by entering its contract address – 35GthqqwTd9HokNVfUzGpjsALCJbeUXXeKeJcrPCZsJB – in the receiving field. If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others. In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price. If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner. The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum. This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like MUSKBTC. Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
The post BlackRock’s ETF Makes Historic Blockchain-Settled Municipal Bond Purchase appeared first on Coinpedia Fintech News As per a latest Bloomberg report, BlackRock’s iShares Short Maturity Municipal Bond ETF, also known as MEAR, just made a historic purchase of municipal bonds issued and settled entirely on blockchain. The fund was founded in 2015 and has roughly $750 million in client assets. The securities were issued by the city of Quincy, Massachusetts, in April and underwriter JPMorgan Chase & Co. used an application on its private, permissioned blockchain-based platform to facilitate the sale. Notably, it was the first deal where muni debt was purchased, settled and held all in blockchain on the platform, completely bypassing traditional methods. A $6.5 Million Deal! BlackRock is the first investor to purchase a portion of the deal. The Quincy transaction involved $6.5 million in municipal debt purchased by BlackRock. Notably, the city of Quincy made waves earlier this year when it issued bonds using blockchain technology instead of the traditional system. JPMorgan’s blockchain platform, Digital Debt Service, was at the center of this innovation. “The use of blockchain throughout the lifecycle of bonds is just one example of the potential for this technology to transform capital markets,” said Pat Haskell, head of the municipal bond group at BlackRock. “This transaction marks a significant moment for the municipal bond market and is a testament to BlackRock’s dedication to innovation.” The prospectus for MEAR was updated to allow the fund to invest in muni bonds settled on JPMorgan’s application Digital Debt Service, according to a US SEC filing dated Dec. 17. The firm updated its ETF’s prospectus to allow blockchain-based bond investments. This required a filing with the U.S. Securities and Exchange Commission, which also outlined the risks, like limited liquidity and the possibility of bugs or errors in the blockchain application. Some issuers and underwriters have been exploring the use of blockchain technology in the muni market. For example, the Michigan State University board of trustees considered a deal to be registered on a digital platform provided by Goldman Sachs. IBIT Smashing Records Blackrock’s iShares Bitcoin Trust (IBIT), launched earlier this year, is smashing records. Over the past day, IBIT pulled in $740 million in inflows. It now manages over $51 billion in assets, making it one of the fastest-growing ETFs in history. Over the past 24 hours alone, IBIT pulled in $740 million. Combined with Ethereum ETF inflows, BlackRock’s crypto ETFs hit $860 million in just one day.
Sportsbet.io , the world’s favourite crypto sportsbook, is celebrating the holiday season with two more blockbuster additions to its roster of ambassadors. Navy Kenzo, the renowned and award-winning Tanzanian afrobeats duo, become the latest superstars from the world of music to ‘Join the Crypto Experience’ with Sportsbet.io. Consisting of Aika and Nahreel, Navy Kenzo are known for hits including ‘Company’, ‘Fella’ and ‘Manzese’. They are excited to join other music sensations, like rapper King Kaka, in joining the Sportsbet.io team. Also becoming a Sportsbet.io ambassador is Nigerian broadcaster, actor and sports presenter Jimmie Akinsola. Jimmie is well known in Nigeria and beyond for his work on Beat FM, SuperSport and more. He’ll be helping to spread the word about Sportsbet.io across his extensive network in the entertainment world. Sportsbet.io’s ‘Join the Crypto Experience’ ambassador program has rapidly expanded across sports, entertainment and other areas, with globally recognised names, like Nigerian actor and model JayPaul, joining the fray. If you are a natural-born networker with world-class content creation skills, you may also be able to join. Find out more here: https://jointhecryptoexperience.io/ . About Sportsbet.io Founded in 2016 as part of Yolo Group, Sportsbet.io is the leading crypto sportsbook. Sportsbet.io has redefined the online betting space by combining cutting-edge technology, with cryptocurrency expertise and a passion for offering its players with the ultimate fun, fast and fair gaming experience. Official Regional Partner of LALIGA, Official Turkish Betting Partner of English football team, Hull City and a Club Partner of Premier League team Newcastle United, Sportsbet.io provides an expansive range of betting action across all major sports and eSports, offering players more than 1M pre-match events per year and comprehensive in-play content. As the first crypto sportsbook to introduce a cash out function, Sportsbet.io is recognised as a leader in both online sports betting and within the crypto community. In December 2023, a lucky Sportsbet.io won the biggest ever online slots jackpot while playing on the site, turning a $50 spin into a prize of more than $42 million. Sportsbet.io prides itself on its secure and trustworthy betting service, with withdrawal times of less than 90 seconds, among the fastest in the industry. For more information about Sportsbet.io, please visit https://sportsbet.io . Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
The U.S. Securities and Exchange Commission (SEC) recently sent a Wells notice to CyberKongz, indicating the regulator plans to take enforcement action against the non-fungible token (NFT) project. CyberKongz announced the notice this week and says it plans to “stand up and fight” in response to the SEC’s crackdown. “We have been suffering in silence for the last two years, ever since we first received contact from the SEC. Throughout the entire process they have showcased a complete lack of understanding of blockchain technologies that has resulted in unjust accusations and information inaccuracies. CyberKongz is a project deep-rooted in gaming and the SEC’s Division of Enforcement have approached us with very concerning rhetoric that you can not have a token (ERC-20) in tandem with a blockchain game without registering it as a security. This discourse would have major implications for the entire web3 gaming industry, and we will defend against this stance for the wider space.” The SEC also sent a Wells notice to the NFT marketplace OpenSea in August, claiming that NFTs on the platform are securities. CyberKongz also says the regulator’s Wells notice “demonstrated a perplexing interpretation of smart contracts.” “One of their major concerns with CyberKongz is around the ‘sale’ of Genesis Kongz in April 2021, which was actually a contract migration. If they cannot distinguish between a primary sale and a contract migration, what hope do we currently have for a clear regulatory pathway going forward?” Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post NFT Project CyberKongz Vows To ‘Stand Up and Fight’ After Receiving Wells Notice From SEC appeared first on The Daily Hodl .
Bitcoin investors realized profits as BTC price hit new all-time highs throughout November. Now that the metric has reset, new highs could be in store.
Fed indicates a slower approach to interest rate cuts. Powell emphasizes a stable economic outlook and labor market. Continue Reading: Fed Signals Slower Rate Cuts as Economic Outlook Shifts The post Fed Signals Slower Rate Cuts as Economic Outlook Shifts appeared first on COINTURK NEWS .
What Chairman Jerome Powell will say at the press conference after the FED cut interest rates by 25 basis points as expected is of great importance. The dot plot graph and statements published by the FED along with its interest rate decision were evaluated in favor of the hawkish. Here's what Powell said at the live press conference (refresh the page for new statements): Overall economic performance is strong. The job market has cooled due to overheating. Inflation is closer to the 2% target. Consumer spending remains resilient. Economic activities continue to expand steadily. The labor market remains robust. Although the unemployment rate has risen, it remains at a low level. Wage growth is slowing. Current labor market conditions are looser compared to 2019. The labor market is not a significant source of inflationary pressure. Long-term inflation expectations appear robust. The risks to achieving the objectives are roughly balanced. The interest rate range was lowered today and is moving towards a more neutral level. Today, the policy stance is significantly less restrictive. We may be more cautious in considering further interest rate adjustments. The Fed does not follow a predetermined path for interest rates. Reducing policy restrictions too slowly could severely weaken the economy and employment. If inflation cannot move sustainably towards 2%, policy restrictions can be lifted more slowly. Today's interest rate decision was a difficult one. We believe that inflation is still developing more or less as expected. The inclusion of the phrase “magnitude and timing” in the statement regarding interest rate adjustments suggests that we are at or close to a time when we will slow down interest rate cuts. We are clearly closer to a neutral interest rate. The slowdown in the pace of rate cuts reflects stronger economic data this year. We believe the policy remains largely restrictive. As long as the labor market and economy remain robust, further rate cuts may be considered cautious. We believe that inflation risks and uncertainties are high. The decision to cut interest rates next year will be based on data. Economic growth will be faster than expected in the second half of 2024. The fact that it is close to a neutral interest rate is another reason to be cautious. Related News: BREAKING: The Anticipated Moment Has Arrived! FED Announced Interest Rate Decision! Here is Bitcoin's First Reaction Investors had largely expected the Federal Reserve to cut interest rates, but officials signaled some skepticism about how much and how quickly the central bank will cut rates in the future. “What really drives long-term interest rates and the market is the expectations for a rate cut,” said Jay Hatfield, CEO of Infrastructure Capital Advisors. Analysts say that's consistent with the possibility that the Fed could pause interest rate cuts in January, if not longer, while central bankers assess the economy and the impact of new policies the new president will implement. *This is not investment advice. Continue Reading: JUST IN: FED Chairman Jerome Powell Speaks After Interest Rate Decision – LIVE
Ethena Labs ( ENA ), a synthetic dollar protocol backed by BitMEX founder Arthur Hayes, is announcing a partnership with President-elect Donald Trump’s decentralized finance (DeFi) project. In a new announcement on the social media platform X, Ethena Labs says it has entered into a strategic partnership with World Liberty Financial (WLFI). According to Ethena Labs, the collaboration will bring over Ethena Staked USDe (sUSDe) – a yield-bearing token that inventors can stake – to the DeFi platform. “A governance proposal has been submitted to add sUSDe to WLFI’s upcoming Aave instance as a core collateral asset, Should it pass, this proposal will enable World Liberty Financial users to benefit from sUSDe rewards and also WLFI token rewards This integration will increase stablecoin liquidity and utilization rates on the protocol, as sUSDe’s integration has on Aave’s Core instance.” However, the proposed changes must go through Ethena’s governance process before implementation. “We propose the implementation of sUSDe as the first new collateral asset to the World Liberty Financial market… Should this proposal pass and be implemented, the Ethena Foundation is willing to co-incentivize supply of sUSDe to come to the instance via its points program, making World Liberty Financial users eligible for additional Ethena Rewards on top of sUSDe APY.” World Liberty Financial launched earlier this year. At the time, the project released a roadmap, noting that its goal was to spread stablecoins pegged to the US dollar and the concept of decentralized finance around the world, and help those disenfranchised by banks. Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Trump Family’s World Liberty Financial (WLFI) Forms Partnership With Arthur Hayes-Backed Ethena Labs appeared first on The Daily Hodl .
In a move that highlights the growing convergence of real estate and blockchain technology, RealNOI , a platform focused on real estate investment, has joined forces with Chintai , a compliance-oriented tokenization platform, to debut a solution that brings multifamily rental property cash flows into the digital asset ecosystem. This initiative introduces a long sought after concept of tokenizing monthly rental income streams, making them accessible to a broader range of investors, particularly those interested in DeFi. A New Era for Real Estate Investment The collaboration will launch with two, one New York and one New Jersey based, properties valued at $124 million, offering a digital pathway for investors to engage with real estate income streams. Chintai Nexus's blockchain platform ensures that the process adheres to global standards, providing institutional investors with secure access to these tokenized assets. An example of this technology in action is the DNZ carbon exchange, launched by ChintaiNexus in early 2024. This platform successfully tokenizes and trades real-world assets like carbon credits, showcasing its capability to handle complex asset classes and paving the way for similar innovations in real estate. Solving Liquidity and Access Challenges Tokenized real estate cash flows aim to address persistent challenges in the market, such as limited liquidity and cross-border access. By leveraging blockchain, RealNOI and ChintaiNexus are creating a system that facilitates international participation while ensuring transparency. Chintai Nexus's infrastructure incorporates elements of decentralized finance (DeFi), including automated market making and inter-blockchain connectivity to major networks such as Ethereum, Solana, and Avalanche. This setup enhances liquidity and accessibility for tokenized real estate assets, allowing investors from diverse backgrounds to participate in high-value markets. Rethinking Real Estate Investment Models This approach diverges from traditional real estate equity models, focusing instead on cash flow tokenization. Investors can expect monthly distributions of rental income through the platform, with future prospects for secondary market trading. A notable application of this model is seen in DNA Holdings Venture Inc., which has launched DNA Deal Desk—an exclusive investment platform built on Chintai's blockchain. This platform tokenizes projects as special purpose vehicles (SPVs), allowing investments to be securely managed on-chain. Such innovations could similarly transform how real estate cash flows are structured and traded. Broader Implications The partnership between RealNOI and Chintai Nexus represents a significant shift in real estate investment, underscoring the growing importance of tokenization in the digital age. The global real estate tokenization market, valued at $2.81 billion in 2023, is projected to reach $11.80 billion by 2031 , with a compound annual growth rate (CAGR) of 19.9%. This rapid growth reflects increasing adoption of blockchain technology within the sector. Tokenization could democratize property investment by lowering barriers that have historically favored institutional and high-net-worth investors. By fragmenting high-value assets into tradable tokens, these platforms may unlock unprecedented liquidity in a traditionally illiquid market. A recent EY survey found that 80% of high-net-worth investors and 67% of institutional investors are either investing or planning to invest in tokenized assets. This approach may also redefine property ownership, allowing investors to acquire targeted income streams or fractional interests rather than entire properties. Projections indicate that by 2030, tokenized real estate offerings could account for 13.58% of the total commercial real estate industry . As blockchain technology matures and regulatory frameworks evolve, tokenized real estate has the potential to transition from an experimental concept to a mainstream investment strategy, reshaping both the real estate and digital asset markets for a broader range of participants. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.