Author: CryptoCurrencyNews

DUBAI, UAE, Oct. 8, 2024 /PRNewswire/ — Ben Zhou, co-founder and CEO of Bybit, shared his candid views on crypto compliance, sensible AI deployments, and new growth drivers at TOKEN2049. Sharing the main stage with panelists from other leading exchanges, Ben addressed the growing pains of mainstreaming exchanges, and how they are adapting to meet increasing regulatory requirements at the annual premier crypto event, attended by over 30,000 participants and amplifying leading voices in the blockchain and crypto economy.

Advance Compliance: A Necessary Luxury

“Compliance is not cheap, but the penalties are more expensive. And it comes with not just monetary but also other consequences,” Ben Zhou, co-founder and CEO of Bybit remarked.

Steering the world’s second-largest cryptocurrency exchange by trading volume, Ben Zhou admitted Bybit was on the same learning curve as other major exchanges.

“We are not the first ones, and we have the opportunities to learn and adapt the business,” he said about the rapid changes in the compliance landscape, acknowledging that all exchanges including Bybit are ramping up their compliance efforts.

Only a year ago, exchanges used to place an amount limit on compliance checks; but Bybit has been taking a prudent approach of standardizing compliance and safety checks on practically transaction of any amount, after witnessing “what had happened in the industry,” he disclosed.

Compliance overhead has increased accordingly. “The operations are getting a lot heavier with a lot more manpower,” he said, adding that third-party tools such as Chainalysis have been useful in improving due diligence and KYC, adding costs but also efficiency.

At the time of writing, a team of over 50 risk experts operate Bybit’s AI-enhanced risk engine alongside a growing legal and compliance function comprising compliance officers of various specialities and in-house counsel.

Ben also took pride in crypto‘s contribution to improving compliance practices and raised the bar to make it harder for rogue actors to bypass sanctions. “In our industry, we have revolutionized how compliance has been done. For instance, someone trying to access our platform from a sanctioned address would be identified within minutes and the address would be blocked. The industry is revolutionizing the old ways of doing things in compliance,” he said.  

Incorporating AI Tools and Finding Growth

Bybit takes a “slightly different approach” to AI and recognizes the gap between the native interfaces and users’ demands.

“We don’t like to use APIs because retail users don’t understand them. Instead, we think about the user experience when they interact with exchanges: we use AI to make it a little easier with automation,” he explains.

In the fast-moving world of crypto, users seek not Wikipedia-style explanations of a newly listed token, but hard data and community feedback. Bybit uses AI as a co-pilot to produce a timely summary to break down data points and guide users doing their research to analysis, project background, and social noise. “Basically we look at which part of the process is mundane, and try to streamline it,” he said of the way Bybit deploys AI.

Ben also revealed the geography of growth as crypto continues to serve as a driver for financial inclusion. He commented on the fast-growing TON ecosystem and play-to-earn games, drawing in diverse user groups from Africa, India to parts of Eastern Europe, mapping out a new trend of onboarding users from emerging economies.

Crypto offers an engaging way to empower these communities, he said, where traditional financial infrastructure may fall short for retail users.

Themed “Exchanges at the Helm: Driving Crypto from Niche to Mainstream”, the panel was moderated by Michael Casey, Chairman of the Decentralized AI Society featuring prominent speakers including Ben Zhou at Bybit, Gracy Chen at Bitget, Vivien Lin at BingX, Sonia Shaw at Coin W and Alicia Kao at KuCoin.

#Bybit / #TheCryptoArk / #TOKEN2049

About Bybit

Bybit is one of the world’s top three crypto exchanges by trading volume with 50 million users. Established in 2018, it offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: media@bybit.com
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media

Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

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SOURCE Bybit

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NEW YORK, Oct. 4, 2024 /PRNewswire/ — Bit Digital, Inc. (Nasdaq: BTBT) (“Bit Digital” or the “Company”), a sustainable platform for digital assets and artificial intelligence (“AI”) infrastructure headquartered in New York, announced its unaudited digital asset production, HPC services revenue, and corporate updates for the month of September 2024.

Corporate Highlights for September 2024

• The Company had 256 servers actively generating revenue from its initial Bit Digital AI contract, as of September 30, 2024. The Company earned approximately $4.2 million of unaudited revenue from this contract during the month of September 2024.
• In September 2024, the Company produced 51.5 BTC, a 3.6% decrease compared to the prior month.
• The Company’s active hash rate was approximately 2.43 EH/s as of September 30, 2024.
• Treasury holdings of BTC and ETH were 731.3 and 27,388.9 with a fair market value of approximately $46.3 million and $71.3 million, respectively, on September 30, 2024.
• The BTC equivalent^[1] of our digital asset holdings as of September 30, 2024, was approximately 1,863.0 or approximately $118.0 million.
• The Company had cash and cash equivalents of $104.0 million and total liquidity (defined as cash and cash equivalents, USDC, and the fair market value of digital assets) of approximately $222.0 million, as of September 30, 2024.

Proof-of-Stake Highlights

• The Company had approximately 21,568 ETH actively staked in native staking protocols as of September 30, 2024.
• Bit Digital earned a blended APY of approximately 3.3% on its staked ETH position for the month of September 2024.
• The Company earned aggregate staking rewards of approximately 57.9 ETH during September 2024.

Upcoming Events

• AIM Summit Dubai Conference, Dubai, United Arab Emirates on October 21-22

About Bit Digital

Bit Digital, Inc. is a sustainable platform for digital assets and artificial intelligence (“AI”) infrastructure headquartered in New York City. Our bitcoin mining operations are located in the US, Canada, and Iceland. The Company has established a business line, Bit Digital AI, that offers specialized cloud-infrastructure services for artificial intelligence applications. For additional information, please contact ir@bit-digital.com or visit our website at www.bit-digital.com.

Investor Notice

Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under “Risk Factors” in Item 3.D of our most recent Annual Report on Form 20-F for the fiscal year ended December 31, 2023. If any material risk was to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. Future changes in the network-wide mining difficulty rate or bitcoin hash rate may also materially affect the future performance of Bit Digital’s production of bitcoin. Actual operating results will vary depending on many factors including network difficulty rate, total hash rate of the network, the operations of our facilities, the status of our miners, and other factors.

Safe Harbor Statement

This press release may contain certain “forward-looking statements” relating to the business of Bit Digital, Inc., and its subsidiary companies. All statements, other than statements of historical fact included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects,” or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

^[1] “BTC equivalent” is a hypothetical illustration of the value of our digital asset treasury holdings in bitcoin terms. BTC equivalent is defined as if all non-BTC digital assets, comprised of ETH, and USDC, were converted into BTC as of September 30, 2024, and added to our existing BTC balance. Conversion values are found using the closing price on coinmarketcap.com. Our digital asset portfolio excludes digital assets invested in a third-party managed fund.

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SOURCE Bit Digital, Inc.

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NEW YORK, Oct. 4, 2024 /PRNewswire/ — Get ready for one of the most influential Web3 events of the year— BCrypt Conference 2024! Hosted by CSharpCorner, this groundbreaking event promises to shape the future of blockchain, Web3, and AI. Taking place from October 16-18, the conference will bring over 50,000 participants from across the globe virtually and in person to the Radisson Blu Kaushambi, Delhi. This year’s event is set to be a defining moment for decentralized technologies, with visionary leaders ready to ignite conversations that will drive the industry forward.

About BCrypt 2024

Presented by The Sharp Economy, BCrypt is India’s premier event for exploring the cutting edge of blockchain and Web3, BCrypt will bring together industry leaders, visionaries, and technology enthusiasts for keynotes, panels and sessions such as:

• Nikil Viswanathan , Co-Founder of Alchemy : As the driving force behind one of the leading blockchain developer platforms, Nikil will share his insights into the future of blockchain infrastructure and how Alchemy is shaping the Web3 ecosystem.
  
• Miko Matsumura , Managing Partner at gumi Cryptos Capital : A visionary in the blockchain investment space, Miko Matsumura will deliver a keynote address on emerging trends in cryptocurrency and decentralized finance, drawing from his extensive experience as a venture capitalist and thought leader in the industry.
  
• Phillip Shoemaker , CEO/Executive Director of Identity.com : With a wealth of experience in digital identity and blockchain, Phillip Shoemaker will discuss the role of decentralized identity solutions in empowering secure and privacy-focused online interactions.

Top industry players from Ava Labs, SolanaU, and Capgemini will also lead discussions on topics like the role of AI in decentralized systems, Web3 development, tokenomics, Web3 security, crypto regulations, and the virtual economy of the metaverse.

BCrypt + The Sharp Economy: Shaping the Future of Web3 Talent

The Sharp Economy is building the next generation of Web3 talent. Powered by the The Sharp Token (SHARP), this ecosystem allows developers to learn, earn, and grow. Unlike traditional platforms like GitHub or Stack Overflow, The Sharp Economy rewards contributions with real, redeemable tokens—not just badges. This creates a vibrant community where learning translates directly into opportunities and resources, making it the go-to platform for developers to advance their careers.

About CSharpCorner

With over three million members, CSharpCorner is the world’s leading online community for developers, offering unparalleled resources to keep them at the forefront of the ever-evolving tech landscape.

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SOURCE CSharp Inc

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KUALA LUMPUR, Malaysia, Oct. 4, 2024 /PRNewswire/ — EBSWARE, a leading financial technology firm is excited to announce the official launch of its innovative multi-asset online trading platform – EBSWARE xTrader. The platform offers traders and investors the ability to engage in a wide range of financial markets, including crypto currencies, Forex, and global equity.

As the demand for diversified investment portfolios grows, xTrader is designed to cater to both beginner and advanced traders who seek seamless access to multiple asset classes in one user-friendly interface.

Key Features of EBSWARE’s xTrader:

1. Multi-Asset Trading Capabilities: EBS xTrader supports a broad spectrum of tradable assets, including Crypto Currencies, Forex and Global Equity.
   
2. Advanced Security Measures: EBSWARE prioritizes the security of its users with cutting-edge encryption technology and multi-factor authentication to ensure that trading activities remain safe from cyber threats.
   
3. Real-Time Data and Analytics: Users benefit from real-time market data, advanced charting tools, and personalized analytics, allowing them to make informed trading decisions.
   
4. 24/7 Customer Support: The platform features around-the-clock support to assist traders with any questions or concerns, always ensuring a smooth trading experience.

xTrader comes at a time when global markets are becoming increasingly interconnected, and investors are seeking easy access to diverse markets and asset classes.

“The financial markets are evolving rapidly, and we want to offer our clients a sophisticated platform that meets the demands of today’s dynamic trading environment,” said William Douglas, CEO of EBSWARE. “With xTrader, users can now easily diversify their portfolios by trading Crypto Currencies, Forex, and Equity from a single account.”

EBSWARE leverages state-of-the-art technology to deliver a secure, efficient, and high-performing trading platform. The firm has invested heavily in cloud infrastructure to ensure the platform’s stability and speed, even during periods of high market volatility.

“Crypto Currencies are increasingly becoming an integral part of global finance,” said Thomas Lee, Chief Technology Officer of EBSWARE. “Our platform recognizes this trend and provides traders with the flexibility to access both traditional assets and cryptocurrencies, making it easier for them to navigate and capitalize on this evolving market.”

About EBSWARE

EBSWARE is a leading financial technology and service provider in Fintech industry. Specializes in building and growing Stock/FX brokerages and Cryptocurrency Exchanges.

For more information about EBSWARE and to sign up for the new trading platform, please visit trader.ebsware.com.

Media Contact:
Vivian Wong
1-680-888-3690
384211@email4pr.com 

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SOURCE EBSWARE Software Inc

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Integration of the BOB Stake SDK will allow Everstake to offer their retail and institutional users access to Bitcoin staking with just one click

LONDON, Oct. 3, 2024 /PRNewswire/ — BOB (“Build on Bitcoin“), a first-of-its-kind hybrid Layer-2 combining the best of both Bitcoin and Ethereum, announced that Everstake, a leading blockchain service provider focused on staking, is bringing the BOB Stake one-click Bitcoin staking solution to the Everstake platform. This collaboration will provide up to 900,000 retail and institutional users secure and simple access to Bitcoin staking. The integration will be rolled out gradually, starting with Bitcoin holders, offering a phased release for specific customer segments.

Founded in 2018 by a team of experienced blockchain engineers, Everstake has made its name as one of the most reliable validators on the Proof-of-Stake scene. This latest integration underscores Everstake’s commitment to building solutions that will enhance people’s interactions with Bitcoin, unlocking opportunities that were once beyond reach.

“Many of our long-standing customers, who have staked with us on a wide variety of POS chains, also hold significant BTC assets,” said Sergii Vasylchuk, CEO of Everstake. “With the integration of BOB Stake, we are excited to offer them an easy, one-click BTC staking solution—directly from the staking platform they know and trust. Our customers can confidently maximize the potential of their BTC with the same level of security and reliability they’ve come to expect.”

BOB Stake is a one-click Bitcoin staking portal and SDK that seamlessly connects Bitcoin stakers to leading liquid staking providers. By simplifying the on-ramping process, BOB Stake integrates the multi-billion-dollar Bitcoin market into its thriving DeFi ecosystem.

“Everstake is an incredibly well-regarded retail and institutional staking provider,” Alexei Zamyatin, co-founder of BOB, added. Their integration of the BOB Stake SDK opens up one-click BTC staking to a whole new audience group, dramatically increasing the potential BTC liquidity that could be deployed into the large number of premium LST and DeFi partners integrated into the BOB Stake ecosystem.”

This collaboration is particularly significant for institutional users, who have increasingly sought secure ways to better utilize their Bitcoin holdings. By integrating BOB Stake into Everstake’s platform, institutional investors can now easily stake their Bitcoin and access liquid staking functionalities, optimizing their assets while maintaining full security. The simplified process of one-click staking enables both retail and institutional users to engage in the growing DeFi ecosystem effortlessly.

The BOB Stake integration opens the door to a larger audience of BTC holders, enabling them to participate in DeFi with ease. The result is a potential influx of BTC liquidity into the DeFi market on BOB, expanding opportunities for users, BTC LST providers and DeFi protocols.

To learn more about Everstake, visit everstake.one. To learn more about the BOB ecosystem and BOB Stake, visit gobob.xyz, or follow BOB on X at @build_on_bob.

About BOB (“Build on Bitcoin“)

BOB (“Build on Bitcoin“) is a first-of-its-kind hybrid Layer-2 powered by Bitcoin and Ethereum. By combining the security, liquidity, userbase, and innovation of the two largest blockchain ecosystems, BOB closes the gap between Bitcoin as a vehicle for mass adoption and Ethereum as a hub for innovation. This is achieved through BOB’s rollup ecosystem that will use Bitcoin for security while enabling users to access all the on and off-ramps, dapps, stablecoins, NFTs, DeFi, etc. made possible by Ethereum‘s EVM. BOB is backed by Castle Island Ventures, Coinbase Ventures, Mechanism Capital, Bankless Ventures, and other high-profile VCs and is positioned to become the most secure and accessible Layer-2 for builders and users.

View original content:https://www.prnewswire.com/news-releases/bob-build-on-bitcoin-announces-integration-of-one-click-btc-staking-into-the-everstake-platform-302266190.html

SOURCE Build on Bitcoin

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