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CyberKongz receives “concerning rhetoric” in Wells notice from the SEC – CoinJournal

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CyberKongz receives “concerning rhetoric” in Wells notice from the SEC – CoinJournal


Crypto.com sues the US SEC after Wells notice
  • CyberKongz said it has been “suffering in silence for the last two years” since being contacted by the US SEC
  • The SEC has an issue with the “sale” of its Genesis Kongz NFTs in April 2021; however, CyberKongz said this was a contract migration and not a token sale
  • CyberKongz said the Biden administration is attempting last-minute enforcement action

CyberKongz, a non-fungible token (NFT) platform, has received a Wells notice from the US Securities and Exchange Commission (SEC).

In a post on X, CyberKongz said that they have “been suffering in silence for the last two years, ever since we first received contact from the SEC,” adding that it had received some “concerning rhetoric” that an ERC-20 token can’t be issued with a blockchain game without being registered 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,” wrote CyberKongz.

By issuing a Wells notice, the SEC believes there may be securities law violations and is preparing to take action against the platform. One of the issues the SEC has with CyberKongz is the “sale” of its Genesis Kongz NFTs in April 2021. According to CyberKongz, this was a contract migration and not a sale.

“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?”

CyberKongz added that the Biden administration is attempting enforcement action at the last minute, adding:

“We hope that the new administration puts an end to this unjustness on our industry, but until then we will fight for NFT projects on all chains.”

Earlier this year, crypto exchange Coinbase received a Wells notice from the SEC followed by OpenSea, an NFT marketplace, and blockchain gaming platform Immutable.

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Binance Wallet Launches Binance Alpha to Highlight Early-Stage Projects – Crypto-News.net

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Binance Wallet Launches Binance Alpha to Highlight Early-Stage Projects – Crypto-News.net


Binance, the world’s largest cryptocurrency exchange by trading volume and users, has launched Binance Alpha, a new feature within Binance Wallet designed to spotlight early-stage crypto projects. Binance Alpha aims to enhance transparency in pre-listing processes while providing users with insights into tokens with growth potential.

“Binance Alpha serves as a pre-listing token selection pool, designed to enhance transparency in the process of token consideration for Binance Exchange listings,” said Winson Liu, Global Lead of Binance Wallet. “By publicly highlighting a curated selection of early-stage projects, Binance Alpha fosters community trust, offering users insights into tokens with potential for future growth within the Binance ecosystem.“

Key Features of Binance Alpha

Binance Alpha selects projects based on Binance’s industry expertise, their traction, and alignment with evolving trends in the crypto ecosystem. The platform provides users with detailed information about featured tokens, giving them the opportunity to explore and assess the growth potential of these projects. By showcasing tokens before they are considered for Binance Exchange listings, Binance Alpha enhances transparency and clarity in the selection process.

Tokens featured on Binance Alpha will be announced through Binance Wallet‘s and Binance’s official social media channels. The platform will launch on December 18, 2024, with five tokens to be introduced over three days. The first token will go live on December 18, followed by a second on December 19, and three additional tokens on December 20. Users can stay updated on announcements through Binance Wallet’s official X account.

How Binance Alpha Works

Upon announcement, users can access details about featured tokens through the Binance Wallet’s Markets tab. Tokens will be available for a 24-hour showcase period, during which users can explore project details and purchase tokens via the integrated “Quick Buy” feature. After the showcase ends, tokens will remain visible in the Alpha section, enabling users to track and trade them.

Optimized Trading with “Quick Buy”

The Binance Wallet also enhances its trading experience through the Quick Buy feature. Leveraging Binance’s Swap functionality, Quick Buy streamlines token purchases with automatic chain token selection, default trading amounts based on wallet holdings, and dynamic slippage adjustment to improve transaction success rates. Additionally, an anti-MEV (Maximal Extractable Value) mechanism minimises price impact on large trades, ensuring faster and more efficient transactions with better pricing than decentralised exchanges (DEXes) or trading bots.



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XRP Market Update: Price Holds at $2.60 as Bulls Eye Breakout to $3 – Markets and Prices Bitcoin News

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XRP Market Update: Price Holds at $2.60 as Bulls Eye Breakout to $3 – Markets and Prices Bitcoin News



XRP Market Update: Price Holds at $2.60 as Bulls Eye Breakout to $3XRP is buzzing at $2.62, boasting a market cap of $147 billion, a trading volume of $18.35 billion, and an intraday price range from $2.37 to $2.71. XRP The 1-hour chart shows a thrilling spike to $2.72, followed by a dip with lots of trading action. Support is clinging around $2.55 to $2.60, while resistance […]



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ESMA unveils final guidance for MiCA as Europe braces for crypto regulation rollout

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ESMA unveils final guidance for MiCA as Europe braces for crypto regulation rollout


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The European Securities and Markets Authority (ESMA) has released its final guidance ahead of the full implementation of the Markets in Crypto-Assets (MiCA) regulations across the region, according to a Dec. 17 statement.

This marks a culmination of 18 months of regulatory efforts, during which ESMA developed over 30 Technical Standards and Guidelines in collaboration with the European Banking Authority (EBA).

Strengthening market oversight

A significant focus of ESMA’s guidance is tackling market abuse in crypto markets. The publication includes a structured reporting format for suspected abuse and establishes protocols for cooperation between regulators across borders.

These measures aim to equip authorities with tools to identify market manipulation and enforce penalties effectively.

The document also addressed reverse solicitation, outlining the conditions under which crypto-asset service providers (CASPs) can engage with clients.

Additionally, it sets guidelines for suitability assessments, ensuring CASPs provide advice tailored to investors’ needs. ESMA emphasized the alignment with existing financial regulations to promote consistency across advisory services.

Meanwhile, investor protection remains central to the framework. The guidance highlighted policies CASPs must implement to safeguard client transfers and outlined requirements for classifying crypto-assets as financial instruments.

MiCA implementation phases

Europe’s MiCA regulation will take full effect at the end of this month. The first phase, which came into force six months ago, targeted stablecoins.

Since its rollout, stablecoin issuers like Tether have faced significant compliance challenges, resulting in its USDT stablecoin being delisted across some platforms.

The second phase will focus on broader crypto industry regulations, addressing crypto-asset operations, market integrity, and investor protections.

ESMA believes its final guidance will support the consistent and effective implementation of MiCA across the region. However, Verena Ross, ESMA Chair, noted:

“It is crucial to recognize that the new regime would not suffice to eliminate the inherent uncertainty and volatility in the crypto-assets market, and investors should fully understand the risks before engaging in this space.”

Posted In: EU, Regulation



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GOLFIN Revolutionizes Golfing Experience with First Golf2Earn Platform – Crypto-News.net

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GOLFIN Revolutionizes Golfing Experience with First Golf2Earn Platform – Crypto-News.net


TOKYO, Dec. 17, 2024 /PRNewswire/ – GOLFIN, a groundbreaking platform merging the physical aspects of golf with the digital innovation of gaming, aimed to address challenges in both realms and create a powerful synergy. Through the use of GPS technology and gaming, Golfin aspires to drive a transformative movement on a global scale.

A Game-Changer for Golf Enthusiasts

GOLFIN’s Key highlights include:

  • Elite Partnerships: Collaborations with the globally renowned PGA Tour’s ZOZO Championship and professional golfers enhance credibility within the golf industry.
  • Strong Market Support: Over 4 Million USD in NFT sales and millions more raised in equity funding signal robust community and investor confidence.
  • Sustainable Rewards: GOLFIN rewards users in USDT & USDC instead of the project’s native token. Eliminating common Ponzi Schemes and high sell pressure, unlike most Play-to-Earn systems.
  • Thriving Community: Boasting over 210,000 community members, GOLFIN is rapidly expanding globally.
  • Special Collaboration: GOLFIN launched various limited NFTs in special collaboration with Ooi Tonbo!, a popular Japanese anime.

Advanced Technology for Real-World Golfers

GOLFIN utilizes GPS technology to track gameplay at certified golf courses all around the world, where real golf experience enhances the strength of in-game avatars. Users earn rewards through tournaments and gameplay while utilizing NFT-based items like customizable characters, clubs, and gear. The platform promotes health and outdoor engagement while enhancing the traditional golf experience.

What’s Next for GOLFIN?

The roadmap is packed with exciting milestones:

  • Global Expansion: GOLFIN aims to bring Golf2Earn to the international stage, introducing millions to its innovative model.
  • CEXs Listing Confirmed: Multiple cryptocurrency exchange listings in 2025 will increase visibility and adoption.
  • New Partnerships: More exciting collaborations are in the pipeline, further enriching the GOLFIN ecosystem.
  • $GON listing: GOLFIN’s native token $GON will be listed in exchanges on December 20th, 2024.

Join the Movement

Explore the world of Golf2Earn and discover what’s next for golf and blockchain. Visit https://golfin.io/en, or follow GOLFIN on Twitter, Instagram, Telegram





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Buy the breakout game’s token… and token of the chain it’s on: Jiho, X Hall of Flame

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Axie Infinity and Ronin founder — and Pixels character — Jiho advises investors to buy gaming ecosystems, not just game tokens. Hall of Flame



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Wormhole and Nuffle Labs partner to revamp multichain restaking – CoinJournal

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Wormhole and Nuffle Labs partner to revamp multichain restaking – CoinJournal


  • Wormhole and restaking provider Nuffle Labs have partnered to bring multichain restaking to users on any chain.
  • Nuffle Labs announced the integration on Dec. 17.

Interoperability platform Wormhole and restaking provider Nuffle Labs are partnering to offer a multichain restaking solution that users can tap into to stake from any chain.

The Wormhole (W) and Nuffle Labs teams announced the integration via a news release on Dec. 17. With its unveiling, users can stake their tokens on any chain without having to go for cross-chain bridging.

Addressing liquidity fragmentation within the multi-chain staking ecosystem, the new solution leverages Wormhole’s message-passing architecture, Nuffle Labs’ NUFF Protocol and EigenLayer’s staking infrastructure.

Firat Sertgoz, the co-founder and chief technology officer of Nuffle Labs, noted via X that the collaboration with Wormhole will bring ‘x from anywhere’ restaking to the multi-chain environment. While the current economic layout across layer-1 and 3 ecosystems is still fragmented, having the capacity to natively stake on any chain from anywhere comes to the market via Nuff Protocol.

“In today’s world, economic zones (L1s/L2s/Lx) are fragmented and the assets that live in a specific economic zone cannot contribute or benefit from an application in another economic zone,” Sertgoz said.

The solution is the first to offer native cross-chain restaking and launches with initial support for Eigenlayer, a restaking protocol on Ethereum that currently boasts a total value locked of over $18.4 billion. Other top restaking protocols by TVL are Babylon, Symbiotic and Karak.

Users on the Nuff Protocol can restake tokens from any blockchain on EigenLayer, with the solution tapping into NEAR DA and Nuffle First Finality Layer. NEAR DA provides for data availability while the Nuffle Fast Finality Layer allows for multi-chain messaging.

Flow Traders, Securitize, Agora and Infinex are some of the platforms and protocols to recently integrate Wormhole’s technology.

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Here’s The Only Way MicroStrategy’s Bitcoin Strategy Can Lead To Bankruptcy

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Here’s The Only Way MicroStrategy’s Bitcoin Strategy Can Lead To Bankruptcy


CryptoQuant CEO Ki Young Ju has revealed that there is only one way that MicroStrategy’s ‘Bitcoin Strategy’ could lead to bankruptcy for the software company. The company’s BTC strategy has led to massive success despite criticisms about how it accumulates more Bitcoin.

How MicroStrategy’s Bitcoin Strategy Could Lead To Bankruptcy

In an X post, Ki Young Ju indicated that MicroStrategy’s Bitcoin Strategy could only lead to bankruptcy if the Bitcoin price drops to $16,500. He explained that MSTR has $7 billion in debt and $46 billion in BTC holdings.

Therefore, based on Bitcoin alone, the company’s liquidation price is $16,500. The CryptoQuant CEO also explained why it is almost impossible for the company to go bankrupt, stating that this would only happen “if an asteroid hits Earth.”

Ki Young Ju mentioned that since its inception, Bitcoin has never dropped below the cost basis of long-term whales, which currently stands at $30,000. In another X post, the crypto CEO noted that $16,000 was the last cycle’s bottom.

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In this regard, Ki Young Ju believes that talking about this price target is like alluding to the $3,000 price level when the Bitcoin price hit $60,000. Basically, the crypto CEO is confident that the flagship crypto will never touch the $16,000 price level again. As such, he remarked that BTC dropped to $16,000 again after all the institutional adoption, ETFs, and MSTR buying, it is as bad as an asteroid hitting Earth.

MicroStrategy also looks to be confident that the Bitcoin price would never drop to such a level as it has continued to accumulate more BTC despite criticisms. The software company recently acquired 15,350 BTC for $1.5 billion, bringing its total Bitcoin holdings to 439,000 BTC.

Saylor Highlights Company’s Success

In an X post, MicroStrategy’s co-founder also highlighted his company’s success thanks to its Bitcoin Strategy. Saylor mentioned that MSTR treasury operations have delivered a BTC yield of 72.4% year-to-date (YTD).

Furthermore, this has led to a net benefit of 136,965 BTC to the company’s shareholders. At $107,000 per BTC, these Bitcoin profits equate to around $14.66 billion for the year. These shareholders have also witnessed a significant increase in the value of their MSTR shareholdings as MicroStaretgy’s stock is up over 540% YTD.

Saylor continues to advocate for other corporations and even governments to adopt Bitcoin. Recently, he laid a framework for the US to pay off its $36 trillion debt with Bitcoin.

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Bitcoin’s Stellar 2024 Sets Stage for a 2025 State-Led Crypto Policy Blitz – Crypto-News.net

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Bitcoin’s Stellar 2024 Sets Stage for a 2025 State-Led Crypto Policy Blitz – Crypto-News.net


Bitcoin ended 2024 on a high note, solidifying its position as the world’s leading cryptocurrency with unprecedented price milestones and adoption levels. Surpassing key price thresholds, Bitcoin’s stellar performance came on the back of robust institutional interest, favorable economic conditions, and expanding regulatory clarity in global markets. Investors flocked to Bitcoin as both a store of value and a hedge against inflation, leading to a 150% year-to-date gain.

This success has shifted focus to 2025, as U.S. states begin to chart a path for proactive crypto policies. Lawmakers are increasingly exploring frameworks that allow Bitcoin and other digital assets to play a formal role in public investments, treasuries, and pension funds.

States Push for Crypto Policy Adoption

Several states, including Wisconsin and Michigan, have already led the charge by allocating portions of their public funds into Bitcoin ETFs, demonstrating a willingness to diversify investment strategies. These early moves signal a growing acknowledgment of crypto’s long-term potential to reshape traditional finance.

The momentum for a 2025 crypto policy blitz stems from two key factors. The key factors resonate in growing public confidence in Bitcoin and a desire to harness its success to drive economic growth. States are actively considering legislation that could establish Bitcoin reserves, permit pension fund investments, and create tax-friendly regulations for crypto businesses. If adopted, such measures would not only attract crypto companies but also solidify Bitcoin’s role as a cornerstone asset in state portfolios.

Balancing Innovation and Risk

Despite the enthusiasm, policymakers remain cautious about the inherent volatility of cryptocurrencies. The impressive rise of Bitcoin throughout 2024 brought with it periods of sharp price swings, highlighting the risks of integrating digital assets into public funds. Legislators are balancing innovation with investor protection, ensuring frameworks promote adoption without exposing taxpayers to undue risk.

However, proponents argue that a strong crypto policy framework will bring much-needed stability and transparency to the sector. By creating clear regulations, states can protect investors while capitalizing on Bitcoin’s immense growth potential.

Why 2025 Could Be a Pivotal Year

The convergence of Bitcoin’s stellar 2024 performance and forward-thinking state legislation marks 2025 as a defining year for crypto policy adoption in the United States. As Web3 technologies gain traction and blockchain-based tools continue to evolve, Bitcoin’s role as a decentralized, inflation-resistant asset becomes increasingly relevant.

For investors, the state-led push for crypto policies signals opportunity. If successful, these policies could pave the way for nationwide adoption and create ripple effects across financial markets, driving further interest and investment into Bitcoin and digital assets.

Looking Ahead

With Bitcoin’s momentum unlikely to slow, all eyes are on state lawmakers as they finalize proposals to integrate crypto into public systems. The outcome of this policy blitz will determine not just the future of Bitcoin in state treasuries but also how the broader financial landscape adapts to decentralized assets.

As 2025 approaches, stakeholders—from investors to policymakers—are preparing for what could be a transformative year for Bitcoin, cementing its status as a powerful force in both finance and policy.



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Are You Buying Bitcoin? Whales Add $7.3 Billion in BTC

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Are You Buying Bitcoin? Whales Add $7.3 Billion in BTC


Bitcoin (BTC), the world’s largest cryptocurrency by market cap is gaining significant attention from crypto enthusiasts following its impressive performance. Today, December 17, 2024, a prominent crypto expert made a post on X (previously Twitter) that whales have purchased a significant 70,000 BTC worth nearly $7.30 billion.

Bitcoin Whales’ Rising Interest 

This notable BTC purchase was made over a 48-hour period, during which BTC experienced an impressive upside rally and marked a new high today. However, the current market sentiment seems quite confusing, as BTC and only a few major assets are experiencing upside momentum, while the majority are struggling to gain traction.

Source: X (Previously Twitter)

Current BTC Price Momentum

With this massive purchase, BTC reached a new high of $108,353 today. At press time, BTC is trading near $107,850 and has experienced a price surge of over 2.25% in the past 24 hours. During the same period, its trading volume increased by a modest 8%, indicating heightened participation from traders and investors amid the ongoing bull run.

$117 Million in BTC Inflow

Despite notable participation and whale acquisitions, data shows that some long-term holders continue to dump their holdings onto exchanges, as reported by the on-chain analytics firm Coinglass. Data from Bitcoin spot inflow/outflow revealed that exchanges have witnessed a significant $117.66 million worth of BTC inflow.

Source: Coinglass

This inflow refers to the transfer of assets from the long-term holder’s wallet to the exchanges, which suggests potential selling pressure and a possible price decline in the coming days. However, the recent accumulation is significantly higher than the inflow, which suggests that this won’t impact the BTC price.

Why is the BTC Price Increasing?

Besides the recent accumulation by whales, demand from institutions has skyrocketed as of December 16, 2024. Major firms like MicroStrategy and Semler Scientific acquired 15,350 BTC and 211 BTC, respectively, as reported by CoinPedia.

The acquisitions by these whales and institutions could be a potential reason behind the ongoing bull run.



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