Integrai

• OKX suffered a temporary server outage on March 17 due to an issue with its matching engine.
• The team resolved the issue within an hour while ensuring all funds remained safe.
• This is the second network outage OKX has encountered in the past three months.

OKX Suffers Network Outage

On March 17 crypto exchange OKX suffered a temporary server outage which was solved in about an hour. The OKX team said in a Twitter update that the outage was due to a matching engine problem, but assured investors that all funds remained safe. After solving the problem, OKX resumed service provision and had a cancel-only period for trades that had been initiated before the downtime.

Previous Outage

This is not the first time that OKX has experienced network outages– last December, their services were down for close to 24 hours due to a previous failure of Alibaba Cloud in Hong Kong. Following this most recent outage, the crypto exchange promised to carry out a postmortem to get to the root cause of it.

User Concerns

Users took to social networks such as Twitter with concerns regarding the downtime and its potential repercussions on their positions– with one user complaining they couldn’t sell @BabyDogeCoin pump during this time period. To reassure users, OKX responded by asking them to contact customer service if they had any issues or problems related to liquidations caused by the downtime.

Apology and Resumption of Services

OKX apologized for any inconvenience caused by this downtime and resumed full services from 5:27 pm UTC+8 after having started off with just a cancel-only session following resolution of their problem.

Post-Mortem

True to their word, once everything was back up and running smoothly again, OKX announced they would do a post-mortem review once everything was okay in order to prevent similar occurrences from happening again in future.

• Silicon Valley Bank (SVB) has seen a dramatic decrease in its shares due to a stock offering of $1.75 billion and the purchase of $500 million common stock by private equity firm General Atlantic.
• Many cryptocurrency-focused venture capital investors, such as Peter Thiel’s Founders Fund, have advised their portfolio companies to withdraw cash from SVB.
• The bank is now facing difficulties as cryptocurrency firms are looking for other banking choices following the failure of Silvergate Bank earlier this week.

Silicon Valley Bank Stock Plunges

Silicon Valley Bank (SVB) has seen its shares plunge by more than 60% after announcing a stock offering of $1.75 billion and the purchase of $500 million common stock by private equity firm General Atlantic earlier this week.

Crypto-Focused Venture Capital Investors Urge Firms To Withdraw Cash

In response to the announcement, many cryptocurrency-focused venture capital investors, such as Peter Thiel’s Founders Fund, have advised their portfolio companies to withdraw cash from SVB in order to protect their assets. Pantera Capital, both a hedge fund and a venture investor, has also urged its portfolio companies to investigate the possibility of opening several accounts at different banks or institutions.

Difficulties Arise For Cryptocurrency Firms

The failure of Silvergate Bank earlier this week has left many cryptocurrency firms scrambling for alternative banking options. This comes at an already difficult time for SVB which is struggling with numerous problems including difficulty logging into accounts reported by multiple users on Twitter.

SVB – Go-To Choice For Tech Businesses

With over 2,600 customers in the financial technology industry alone, Silicon Valley Bank is typically the go-to choice for many venture-backed technology businesses located in the United States. However due to recent events it seems that these customers may need to look elsewhere for financial services and support going forward.

Conclusion

The future of Silicon Valley Bank remains uncertain and only time will tell how much further stock prices will drop before it can recover from this shocking drop in value caused primarily by its own actions. In the meantime crypto firms should be doing all they can to secure alternative banking solutions and protect their assets while waiting out what could be an uncertain future ahead for SVB Financial Group

• Robinhood Wallet has launched globally for iOS users on the Apple App Store.
• Users can receive up to 5 USDC by transferring $10 of cryptocurrency from Robinhood to their new wallet or 1 USDC by transferring $10 from another wallet.
• Android users must wait until later in the year to access the wallet, however they can join a waitlist for notifications when it becomes available.

Robinhood Wallet Launches for iOS Users

Robinhood Wallet has launched globally on the Apple App Store and is now available in over 130 countries. The web3 wallet facilitates multi-chain, self-custody ownership, and cryptocurrency swapping with numerous decentralized applications (dapps). For a limited time, those who transfer $10 of cryptocurrency from Robinhood to their new wallet will receive up to 5 USDC or 1 USDC by transferring $10 from another wallet or exchange.

Features of Robinhood Wallet

In addition to its initial features, Robinhood intends to introduce a web3 browser, support additional coins, and broaden its rewards program in upcoming months. Johann Kerbrat, general manager of the Robinhood crypto exchange reported that feedback has been largely positive since launch in beta with users commending its accessibility and user-friendliness as well as being able to self-custody their digital assets and make swaps without incurring network fees on Polygon.

Android User Waitlist

Despite launching globally on the App Store for iOS users , Android users must wait until later this year before they can access the wallet. However they can join a waitlist so they can be notified when it becomes available.

Recent Turmoil in Cryptocurrency Markets

Recent turmoil in the cryptocurrency markets have not stopped Robinhood from striving toward its mission: becoming “the most reliable, cost-effective, and straightforward on-ramp to crypto”. They are still committed towards achieving this mission despite recent market conditions which could have discouraged them otherwise.

Conclusion

Robinhood is dedicated towards providing an easy way for people around the world to get into cryptocurrencies regardless of difficult market conditions; The company hopes that having an easy accessible platform will allow more people access into blockchain technology which would eventually lead us closer towards a cashless society driven by blockchain technology

• Blackrock, the world’s largest asset manager, recently launched a metaverse thematic ETF.
• The new iShares Future Metaverse Tech and Communications ETF (IVRS US) was recently listed on NYSE Arca with an expense ratio of 0.47%.
• Companies seeking to participate in the fund must have a $300 million market cap, with trading volumes of at least $2 million.

Blackrock Launches Metaverse-Focused ETF

Incoming reports indicate that Blackrock, the world’s largest asset manager, recently issued a metaverse-themed ETF, joining several others in the quest. The new iShares Future Metaverse Tech and Communications ETF (IVRS US) was recently listed on NYSE Arca using an expense ratio of 0.47%.

Targeting Companies Focusing On Further Developments Within The Metaverse Ecosystem

The fund is linked to Morningstar Global Metaverse & Virtual Interaction Select Index and targets companies focusing on further developments within the metaverse ecosystem. When writing this report, data indicated that the fund had only accumulated a net asset of about $5.02 million as of Feb. 17, with a daily volume of 410. Moreover, data from Feb. 17 shows that about 72.4% of the Index’s total constituted US-listed stocks while other countries well represented in the fund include China (10.2%), South Korea (3.6%), France (5.1%), and Japan (8.2%).

Companies Requirements For Participation In Fund

Reports indicate that companies seeking to participate in the fund must have a $300 million market cap, with trading volumes of at least $2 million.. The new Blackrock fund adopts a rating system where companies listed will be assigned at least one of 6 relevance scores related to the metaverse sub-theme which assesses their potential to benefit from any sub-theme including Wearable Technology and VR/AR; Enhanced Social Media; 3D Rendering and Simulation Software; Metaverse Platforms; Immersive Gaming; Digital Assets & Payments etc

Previous Rumors Of New ETF

Last October rumors surfaced about Blackrock’s new meta verse focused ETF which is just one of many already launched meta verse thematic ETFs in US such as Roundhill Ball Meta verse ETF which is currently largest among them all .

Conclusion

Blackrock’s newly launched exchange traded fund provides investors opportunity to capitalize on prospect created by developing technologies associated with virtual universes known as “meta verses” while also offering coverage for various industries related to it through its Morningstar Global Meta verse & Virtual Interaction Select Index based rating system for companies participating in it

• Optimism Protocol and Connext have collaborated to launch a donation system for earthquake victims in Turkey.
• This system allows people to donate funds directly and non-custodially through the blockchain.
• Optimism Protocol has also launched a new governance portal called Optimism Agora.

Earthquake Relief Efforts Through Blockchain

As Turkey recovers from the catastrophic earthquake that took thousands of lives, several blockchain projects are now launching donation campaigns to assist affected regions. On Feb 11th, Connext, a decentralized exchange and payment network, announced on Twitter that they had created a new system allowing TurkeyReliefDAO to accept donations across multiple chains. Shortly after, Optimism Protocol, a layer-2 scaling solution for Ethereum also tweeted that they had set up a donation address so people could send support directly to the affected areas.

Benefits of Noncustodial Donations

This coordinated effort by Connext and Optimism Protocol is an example of how blockchain can be leveraged for social good. By creating a system for noncustodial donations, these organizations are allowing people to contribute to relief efforts without relying on centralized intermediaries. This helps ensure transparency and accountability and enables funds to reach those in need more quickly than with traditional methods.

Optimism Agora Launched

In addition to setting up the donation address, Optimism Protocol also announced the launch of their new on-chain governance portal: Optimism Agora. This portal was built by Agora and brings Token House votes fully onto the chain which will help increase efficiency when it comes to voting processes as well as provide more transparency when it comes to decision making within projects using this protocol.

Social Good Initiatives

The collaboration between Connext and Optimism Protocol is just one example of how blockchain technology can be used for social good initiatives such as disaster relief. By leveraging distributed ledger technologies such as blockchain, these organizations are able to enable trustless transactions which increase speed while still providing necessary security measures needed when dealing with sensitive humanitarian issues such as this one.

Conclusion

The use cases for distributed ledger technology (DLT) continue growing daily from finance all the way into philanthropy and disaster relief initiatives such as this one in Turkey where many lives were tragically lost due to earthquakes recently hitting parts of Syria and Turkey alike earlier this month. With DLT protocols like Ethereum’s Layer 2 scaling solution “Optimistic” leading the way on coordinating donations among other projects like Connet Network’s platform—it looks likely that we may see these types of relief efforts become more commonplace over time as DLT continues gaining traction globally throughout various industries around us today

• Binance has stopped its wallet services for WazirX, an Indian cryptocurrency platform. This decision was made following a public argument over ownership of the exchange.
• Binance set a deadline of Feb. 3rd, 2023 at 11:59 UTC for Zanmai Labs to retrieve the funds utilized for WazirX’s operations.
• WazirX recently revealed in a proof of reserves report that 90% of its user assets are stored in Binance wallets.

Binance Stops Wallet Services for WazirX

Binance, the biggest crypto exchange globally, has discontinued its wallet support for WazirX, an Indian cryptocurrency platform, due to false claims made by Zanmai Labs which manages WazirX. In a recent blog post, Binance mentioned that it had given Zanmai Labs an opportunity to withdraw its untrue statements or end the partnership but since no satisfactory reply was received, it was forced to end the association and set a deadline of Feb. 3rd, 2023 at 11:59 UTC for Zanmai Labs to retrieve the funds utilized for WazirX’s operations.

False Claims Made by Zanmai Labs

The public argument between Binance and WazirX started when Indian authorities began investigating into the exchange’s operations due to alleged violations of foreign exchange regulations on Twitter between co-founder Nischal Shetty and CEO Changpeng Zhao regarding who holds authority over WazirX. The dispute ignited after CoinGabbar released a proof of reserves report showing that 90% of user assets are stored in Binance wallets with total user asset value being $285 million represented by stablecoin USDT tied to US dollar value.

Binance Does Not Own Wazirx

Despite announcements pointing otherwise back in 2019 saying otherwise about ownership, Binance emphasized that it does not own WazirX and only provides wallet and tech services to them as clarified in their recent statement.

Deadline Set By Biance

Biance has set a deadline of Feb 3rd 2023 at 11:59 UTCfor Zanimi labs to retrieve funds used in operation yet still clarifying that final responsibility lies on Zanimi labs itself to carry out these withdrawals despite their intentions stated publicly.

Proof Of Reserves Report

As per CoinGabbar’s proof f reserve report ,90%of user assets were held by binance wallets with other exchanges holding only 26 million dollars worth assets while total user asset value being 285 million dollars represented by stable coin USDT tied up with US dollar value .

• The US Commodity Futures Trading Commission (CFTC) commissioner Kristin Johnson recently proposed several legislative changes that would give the regulator more authority to examine the financial records of any firm seeking to acquire a significant interest in any registered market participant.
• Johnson cited the example of derivatives exchange LedgerX, which became a subsidiary of FTX in August 2021 and is currently entangled in the collapse of the crypto exchange.
• Johnson proposed granting the CFTC the authority to investigate any business wishing to acquire 10% or more of a CFTC-registered exchange or clearinghouse, as well as formalizing crypto firms‘ obligation to segregate customer funds.

The US Commodity Futures Trading Commission (CFTC) has recently pushed for additional oversight of acquisitions in the crypto space. During a speech at Duke University on January 21st, CFTC Commissioner Kristin Johnson proposed several legislative changes to give the regulator more authority to examine the financial records of any firm looking to acquire a significant interest in any registered market participant.

Johnson cited the example of derivatives exchange LedgerX, which became a subsidiary of FTX in August 2021 and is currently entangled in the collapse of the crypto exchange. She noted that the regulator was unable to conduct any due diligence on whichever company was acquiring the business, and that it was merely a passive bystander during the exchange’s sale process. To address this issue, Johnson proposed granting the CFTC the authority to investigate any business wishing to acquire 10% or more of a CFTC-registered exchange or clearinghouse.

In addition, the commissioner advocated for expanding the commodities regulator’s authority to improve customer protection, deter liquidity crises, and reduce conflicts of interest. One of the issues she raised was the co-mingling of customer funds, which was one of the more egregious charges against FTX after its demise. Johnson suggested legislation that would formalize crypto firms‘ obligation to segregate customer funds, to prevent such liquidity issues in the future.

The CFTC’s proposed legislative changes would give the regulator more power to regulate the crypto space, and to ensure the safety of customer funds. While the proposed changes have yet to be approved, they are a step in the right direction towards creating a more secure and reliable crypto space.

• A bored ape whale collector known as “Pokee” purchased 69 DeGods NFTs in one bulk purchase, spending close to $1 million.
• Pokee initiated and approved the transaction three days later, using a tool that allows buyers to ’sweep the floor‘ or purchase any amount of NFTs from a project.
• Magic Eden initially allowed only a maximum purchase of 50 NFTs, but Pokee requested them to increase the swipe option to 69 NFTs.

A bored ape whale collector under the pseudonym „Pokee“ has made a massive purchase of DeGods NFTs worth nearly $1 million. Pokee, who controls a private crypto fund, used a tool that allows buyers to ’sweep the floor‘ or purchase any amount of NFTs from a project to buy the 69 NFTs in one bulk purchase.

Before the purchase, Pokee had tweeted on Jan. 13 that he would sweep the 69 NFTs after his tweet got 1,000 likes. He added that his acquisition would be aimed at supporting the project’s highly anticipated move to Ethereum and the tweet garnered almost 3,000 likes at the time of writing. He initiated and approved the transaction three days later, spending about $900,000.

Pokee, in an interview, explained that his goal with the investment was to bridge the NFTs to Ethereum. He added that he could not invest more of his wealth into Solana due to on-chain dangers. At the time, he only had fun in Solana on little NFTs and mints.

Magic Eden initially allowed only a maximum purchase of 50 NFTs, but Pokee requested them to increase the swipe option to 69 NFTs, claiming that a 50 NFTs limit is „of ultimate inconvenience.“ Later, Magic Eden updated the sweep functionality to allow a larger mass sweep of NFTs.

The purchase of NFTs by the bored ape whale collector is expected to increase the interest in DeGods and Solana’s trading volume. DeGods was launched in the summer of 2020 and is one of the most popular NFT projects on Solana. The project has attracted a lot of attention with its recent move to Ethereum and its NFTs have become increasingly popular.

Pokee’s purchase is expected to bring more investors to DeGods and increase the trading volume of the NFTs. This could also result in a rise in value of the NFTs, which could be beneficial for Pokee and other investors. Pokee has also promised to donate a part of the proceeds from the sale of the NFTs to charities.

Overall, Pokee’s purchase is expected to have a positive effect on the DeGods project and the crypto industry as a whole. It is a reminder that whales have the capability to make significant investments in the crypto space, which can help to accelerate the growth of projects and the industry as a whole.

• HedgeUp (HDUP) and bitcoin cash (BCH) are two cryptocurrencies that could return a decent gain in 2023
• HedgeUp is a project that has been purpose-built to enable a more straightforward, alternative investment market through a marketplace that allows fractionalized investments within asset classes that are typically unreachable for many people
• With fractional NFT purchases, investors don’t have to own the whole NFT, allowing them to diversify and enhance their portfolios, possibly boosting their growth across the market

With the ever-changing crypto landscape, investors and traders are continually searching for the best opportunities to make the most of their investments. After the bear market of 2022, many investors are looking for cryptocurrencies that can be bullish in 2023 and beyond. Two of the projects that may have the potential to return a decent gain in 2023 are HedgeUp (HDUP) and bitcoin cash (BCH).

HedgeUp is a project that has been purpose-built to enable a more straightforward, alternative investment market through a marketplace that allows fractionalized investments within asset classes that are typically unreachable for many people. HDUP, HedgeUp’s native token, is the cryptocurrency behind the platform providing users with access to a wide range of products. The goal is to open up access to high-end luxury watches, fine art, gold, aviation, diamonds, fine wine, or anything else.

This way, investors can diversify and enhance their portfolios, possibly boosting their growth across the market. Anyone can buy and sell their HedgeUP investments within the non-fungible token (NFT) marketplace. With fractional NFT purchases, investors don’t have to own the whole NFT. They can hold a small percentage, beginning with just a $1 stake in the HDUP cryptocurrency. This simple entry to fractionalized investments can be bullish for HDUP, possibly powering it to greater heights in 2023.

Bitcoin cash, the hard-forked version of bitcoin, is one of the most popular cryptocurrencies in the world. Bitcoin cash is a decentralized, public blockchain that allows users to securely send and receive payments with low fees and fast confirmation times. Bitcoin cash has also seen a surge in popularity and adoption in recent years due to its low fees and fast transaction times compared to other cryptocurrencies.

In addition, bitcoin cash also has a large and active development community, which is working on scaling solutions, such as Schnorr signatures and gigabyte blocks, to help make the network more secure and efficient. This, along with its popularity, could bode well for bitcoin cash in 2023 and beyond.

With both HedgeUp and bitcoin cash looking up in 2023, investors and traders should consider their potential and features when making their investment decisions. While the crypto landscape is always changing, these two projects could be the ones to watch in the coming years.