DUBAI, UAE, Oct. 24, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, announces the WSOT Copy Trading Fest, inviting crypto traders and investors to compete for their share of an exciting 100,000 USDT prize pool. Running until October 31, 2024, the event offers participants the opportunity to showcase their expertise or leverage the strategies of top traders.

The World Series of Trading (WSOT) 2024 marks the fifth edition of Bybit’s premier crypto trading event, renowned for bringing global traders together. This year’s WSOT features a total prize pool of up to 10,000,000 USDT, with the Copy Trading Fest adding a unique competitive element for both seasoned and beginner traders.

Tailored for All Traders

• Experienced Traders:
  • Compete as Master Trader by executing winning strategies and aiming for the 100,000 USDT prize pool. The top 50 Master Traders with the highest PnL will split the 50,000 USDT pool.
• New and Aspiring Investors:
  • Join as Follower, copying the strategies of Master Traders to maximize returns without needing advanced technical skills. The top 100 Followers by PnL will split an additional 50,000 USDT pool.

How to Join and Compete

• Choose Your Role: Decide whether you’ll lead as a Master Trader or copy trades as a Follower.
• Meet the Eligibility Criteria: Ensure a minimum $50,000 trading volume during the event to qualify for rewards.
• Accumulate PnL: Both realized and unrealized profits count towards your leaderboard ranking.
• Fast Rewards: All prizes will be credited to the Bybit Rewards Hub within 10 days after the event ends.

Seize the Opportunity Today!

Whether you’re aiming to showcase your expertise or earn passively by following seasoned traders, the WSOT Copy Trading Fest offers a competitive, transparent, and rewarding experience. With the trading community buzzing, now is the time to jump in and claim your share of the 100,000 USDT prize pool.

#Bybit / #TheCryptoArk / #WSOT2024

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides 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

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BitMEX reports a 35% lower on-chain risk exposure than global averages, demonstrating its commitment to cutting-edge security and regulatory adherence.

VICTORIA, Seychelles, Oct. 22, 2024 /PRNewswire/ — BitMEX, the world’s leading crypto derivatives exchange, has announced that it continues to maintain a low on-chain Anti-Money Laundering (AML) risk profile, successfully reducing its risk exposure from 1.7% in 2019 to just 0.2% in 2024. This 88% reduction in on-chain risk exposure over the past five years is a direct result of BitMEX’s collaboration with Chainalysis, combined with substantial investments in compliance controls and advanced blockchain analytics. With its on-chain risk exposure 35% below the global average of 0.304%, BitMEX demonstrates its steadfast commitment to security and regulatory adherence, setting a new industry standard since 2019.

As the industry navigates complex regulatory environments, BitMEX has turned compliance into an opportunity for leadership. Ongoing compliance efforts include bi-weekly updates to its Proof of Reserves and Liabilities, the use of geo-blocking technology to minimise sanctions-related risks, and regular external AML audits to ensure compliance accuracy. BitMEX also integrates advanced tools to monitor both on-chain and off-chain activity, reinforcing its comprehensive approach to risk management.

Leveraging Chainalysis’ cutting-edge blockchain analytics, BitMEX has implemented robust mechanisms to assess, monitor, and mitigate on-chain risks. On-chain risk exposure refers to the risks associated with the flow of digital assets, especially concerning their origin or destination, and BitMEX’s proactive stance on mitigating these risks reinforces its leadership in safeguarding the crypto ecosystem.

Stephan Lutz, CEO at BitMEX said, “As we continue to prioritise the safety of our users and create a secure trading environment, our collaboration with Chainalysis has allowed us to stay ahead of evolving compliance standards. By integrating advanced blockchain analytics into our comprehensive risk management strategy, we have not only reduced on-chain risk exposure but also strengthened the trust our users place in us. This partnership ensures that BitMEX leads the industry in both security and regulatory adherence, giving our traders confidence in the safety of their assets.”

The BitMEX compliance framework has evolved to reflect the highest standards in the industry. Central to this transformation is its risk-based approach to threshold tuning, which integrates insights from Chainalysis’ detailed typologies and behavioural analytics. The platform’s commitment to data integrity is evidenced by periodic testing and scenario selection based on the latest threat models, ensuring that its AML programme consistently meets regulatory expectations.

“BitMEX has continuously taken an innovative and proactive approach towards enhancing their risk management strategy and prioritising consumer safety,” said Diederik Van Wersch, Regional Director, ASEAN & Hong Kong, Chainalysis. “The team has always valued a strong collaboration when working with Chainalysis, and it’s really impressive to see their investment in a skilled investigations and compliance team, and the adoption of advanced tools – which have yielded impressive results.”

BitMEX’s efforts highlight its leadership in setting new benchmarks for transparency and regulatory adherence in the crypto space. With the continuous implementation of rigorous AML programmes and real-time monitoring systems, the platform is uniquely positioned to offer a secure and compliant environment for traders worldwide. More details on BitMEX’s transformation of its risk profile is available via a Chainalysis case study here.

About BitMEX
BitMEX is the leading crypto derivatives exchange, providing professional crypto traders with a platform that caters to their needs with low latency, deep liquidity and unmatched reliability.

Since our founding, no cryptocurrency has been lost through intrusion or hacking, allowing BitMEX users to trade safely in the knowledge that their funds are secure. So too that they have access to the products and tools they require to be profitable.

BitMEX was also one of the first exchanges to publish their on-chain Proof of Reserves and Proof of Liabilities data. The exchange continues to publish this data twice a week – proving assurance that they safely store and segregate the funds they are entrusted with.

For more information on BitMEX, please visit the BitMEX Blog or www.bitmex.com, and follow Discord, Telegram and Twitter. 

View original content:https://www.prnewswire.com/news-releases/bitmex-achieves-industry-leading-low-on-chain-aml-risk-profile-through-strategic-partnership-with-chainalysis-302282410.html

SOURCE BitMEX

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The collaboration between EMURGO’s Yoroi Wallet and Bring will unite web3 and 775+ real-world retailers and brands, offering up to 10% ADA cashback.

SINGAPORE, Oct. 21, 2024 /PRNewswire/ — Yoroi Wallet, a premier Cardano ecosystem light wallet, and Bring, the first white-label crypto cashback platform, are announcing a collaboration to introduce a new way to passively accumulate ADA via shopping-based rewards. This collaboration will unite the world of blockchain and real-world retailers, allowing users to earn “cashback” in ADA, Cardano‘s native cryptocurrency, for shopping with over 775 global retailers.

This upcoming integration will offer Yoroi users rewarding opportunities from various top-tier brands, including Vaio, JBL, StockX, Samsonite, and Nubul. Users can shop using their credit card or any other payment method and earn up to 10% cashback in ADA. This integration offers a truly seamless, rewarding experience, demonstrating how blockchain can be a part of everyday shopping for the next billion crypto investors. With a simple click of a button on the wallet popup, the user will receive ADA cashback for his credit card purchase.

Vineeth Bhuvanagiri, a Managing Director at EMURGO, said, “Our collaboration with Bring is an exciting development in the world of crypto rewards, creating a new avenue for Yoroi Wallet’s ADA holders to benefit from their assets through qualified shopping purchases at some of the most recognized brand names.”

“Collaborating with Yoroi is a key step toward expanding the reach of our platform and offering users more value,” said Meir (Iri) Zohar, CEO of Bring. “Together, we are unlocking the potential of blockchain technology for mainstream users, making it easier to earn and spend ADA in real-world transactions. We believe this collaboration will accelerate the adoption of Cardano within the retail sector.”

This breakthrough has been made possible, in part, by the support of the Cardano Catalyst program, which provided a grant to fund Bring’s expansion into the Cardano ecosystem, enabling the platform’s continued growth and innovation. The Catalyst program empowers projects that bring blockchain technology closer to mainstream adoption; this new business alliance is a testament to that vision.

The Bring integration in Yoroi marks an essential milestone in the evolution of the Cardano ecosystem. It connects it with the real world in a way that benefits both users and retailers. As blockchain adoption grows, this collaboration will serve as a model for how decentralized technology can be seamlessly integrated into traditional commerce.

The future of ADA just became even more rewarding. The integration is expected to go live later this year.

About EMURGO
EMURGO is a blockchain technology company and a founding entity of the Cardano blockchain that provides products and services to drive the adoption of Cardano‘s Web3 ecosystem. Originally established in Japan, EMURGO exists to facilitate commercial growth of the Cardano ecosystem and unlock the full potential of the ecosystem through partnerships, investments, education, and infrastructure development.

To connect and learn more, visit https://emurgo.io.

About Bring
Bring is the creator of the world’s first white-label crypto cashback service for web3 wallets and exchanges. By partnering with Bring, wallets and exchanges offer their users to earn a variety of cryptocurrencies, in the form of cashback, from 775+ retailers in fashion, electronics, jewelry, travel, software, home decor, beauty, and more.

For media inquiries, please contact:

Bring Web Ltd:
David Amichi
385022@email4pr.com
+972*587225679

https://x.com/BringWeb3
https://www.linkedin.com/company/bringweb3/

Disclaimer
You should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained herein shall constitute a solicitation, recommendation, endorsement, or offer by EMURGO to invest.

View original content:https://www.prnewswire.com/news-releases/yoroi-wallet-users-will-unlock-ada-rewards-when-shopping-via-upcoming-bring-integration-302280406.html

SOURCE EMURGO

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Proposed Voluntary Framework for Digital Asset Tokens Designed to Identify Material Information Enabling the Market to Make Informed Decisions

CHICAGO, Oct. 20, 2024 /PRNewswire/ — The Global Digital Asset and Cryptocurrency Association (Global DCA), in collaboration with Global Blockchain Business Council (BGGC), The Digital Chamber and the Proof of Stake Alliance, today announced the Proposed Information Guidelines for Certain Tokens Made Available in the United States, a comprehensive, voluntary framework designed to enhance transparency and enable informed decision-making in the rapidly evolving digital asset market.

Prominent attorneys along with distinguished law and finance scholars leading in the fields of blockchain, digital assets and Web3, developed and proposed the Guidelines as members of an impartial Senior Steering Committee:

• Chris Brummer – Professor of Law, Georgetown University, and Faculty Director, Georgetown’s Institute of International Economic Law
• Lewis R. Cohen – Partner and Co-Head of the CahillNXT practice, Cahill Gordon & Reindel LLP
• Patrick Daugherty – Partner and Head of Digital Assets Practice, Foley & Lardner LLP; Adjunct Professor of Law at Cornell and Northwestern
• Daniel Davis – Partner and Co-Chair Financial Markets Regulation, Katten Muchin Rosenman LLP; Former General Counsel, U.S. Commodity Futures Trading Commission
• Zachary O. Fallon – Partner, Ketsal PLLC
• Merritt B. Fox – Professor of Law & Director of the Program in Law and Economics of Capital Markets, Columbia Law School
• Carol Goforth – Distinguished Professor of Law, University of Arkansas School of Law
• Yuliya Guseva – Professor of Law, Rutgers Law School
• Joel Hasbrouck – Kenneth G. Langone Professor of Business Administration and Professor of Finance, NYU Stern School of Business
• Lilya Tessler – Partner & Head of FinTech and Blockchain Group, Sidley Austin LLP
• Yesha Yadav – Professor of Law, Vanderbilt University Law School

The Steering Committee was advised by the Advisory Committee composed of key industry stakeholders:

• Rachel Barnett – Chief Legal Officer, IEX
• Jason Civalleri – Product Counsel, Grayscale
• William Costello – General Counsel, Gemini Trust Company
• Robert Krugman – Chief Digital Officer, Broadridge
• Ajay Mittal, CFA – Product Strategy, ConsenSys
• Nilmini Rubin – Chief Policy Officer, Hedera
• Craig Salm – Chief Legal Officer, Grayscale
• Lee Schneider – General Counsel, Ava Labs
• Annemarie Tierney – Founder and Principal, Liquid Advisors

The proposed Guidelines focus on native distributed ledger technology (DLT) tokens and are informed by U.S. securities, commodities, and consumer protection regulations as well as industry best practice. The framework seeks to align with global standards, including the European Union’s Markets in Crypto-Assets Regulation (MiCA), ensuring flexibility for the adoption within different regulatory regimes. Further, the Guidelines do not impose mandatory disclosures but instead provides a fit-for-purpose, comprehensive model that stakeholders may voluntarily adopt.

“Global DCA expresses its sincere gratitude to members of the Steering Committee and the Advisory Committee for their unwavering dedication and leadership in this groundbreaking effort. Your collective expertise, insights, and hard work were instrumental in shaping a framework that will enhance transparency and trust in the Web3 industry,” said Renata Szkoda, the Chair of Global Digital Asset & Cryptocurrency Association.

The Guidelines are open for public comments from October 21, 2024 to January 31, 2025. Global DCA invites feedback from all interested stakeholders. Timely comments will be publicly available and considered by the Steering Committee for inclusion in the proposed Guidelines.

How to Submit Comments:
Interested parties can submit comments via email to: comments@globaldca.org

About the Global Digital Asset and Cryptocurrency Association
The Global DCA is a global leading trade association for the digital asset & cryptocurrency industry. It was established to guide the evolution of digital assets, cryptocurrencies, and the underlying blockchain technology within a regulatory framework designed to build public trust, foster market integrity, and maximize economic opportunity for all participants.

For more information, visit https://global-dca.org/proposed-u-s-disclosure-guidelines/

Media Contact:
Christina Sciotto
c.sciotto@globaldca.org
312-593-5119

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SOURCE The Global Digital Assets Cryptocurrency Association

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Crypto lending is on the rise, with the market experiencing significant growth in 2024. Leading the charge is crypto lending platform Ledn, which has set a new record by processing $1.67 billion in loans as of the third quarter. The crypto lending market is flourishing, driven by increased demand from both retail and institutional investors. Market events such as the Bitcoin halving and the expansion of Ethereum ETFs in Asia have further fueled this demand.

Ledn’s Growth in 2024

Ledn has had an exceptional year, with $1.67 billion in loans processed up to Q3 2024. The loans were split between $258.7 million for individual retail users and $1.41 billion for institutional clients. In Q3 alone, Ledn processed loan transactions amounting to $506 million. The retail sector, in particular, saw explosive growth, with loans increasing by 225% year-over-year. This surge is largely attributed to Ledn’s Celsius refinancing program, the launch of crypto ETFs, and a reduction in market volatility.

Institutional loans accounted for the majority of Ledn’s loan volume, growing to $437.7 million in the third quarter. This increase reflects a broader industry trend, where institutions are seeking digital asset-backed financing as traditional funding avenues become more restrictive due to tight monetary policies.

Ledn’s services include Bitcoin-backed loans, Ether-backed loans, and B2X loans, which allow clients to double their exposure to Bitcoin. The company also prides itself on its third-party proof-of-reserves standard, enhancing transparency and trust in its operations. Since its inception in 2018, Ledn has facilitated over $6.5 billion in loans across both retail and institutional markets.

Bitcoin Halving and Ethereum ETFs Drive Demand

Several market events have contributed to the growth of the crypto lending market, particularly for platforms like Ledn. The Bitcoin halving event, which occurs every four years and reduces the number of new bitcoins generated, has sparked significant interest among investors. Historically, Bitcoin’s price tends to surge following the halving, prompting investors to seek alternative financing options, including Bitcoin-backed loans, to take advantage of the anticipated price appreciation.

Similarly, the rise of Ethereum ETFs, particularly in Asian markets, has driven demand for Ethereum-backed loans. Investors are increasingly using these loans to gain exposure to Ethereum and other digital assets, capitalizing on the growth of crypto ETFs. This trend underscores how traditional financial instruments are blending with the crypto world, offering investors new avenues for participation in the digital asset market.

John Glover, Ledn’s Chief Investment Officer, highlighted this development: “We’ve seen a surge in institutional demand since July, especially as Ethereum ETFs have gained traction. These trends have been critical in driving the growth of our loan volume.”

Institutional Demand Continues to Rise

Institutional investors have been a key driver of the crypto lending market in 2024. As traditional lending options become more expensive and difficult to secure, many institutions are turning to digital asset-backed loans as a viable alternative. The combination of restrictive monetary policies and increased competition for dollar funding has made crypto-backed loans an attractive option for institutions seeking liquidity.

According to Ledn, institutional loans saw significant growth in Q3 2024, with $437.7 million in loan transactions processed during the quarter. This reflects the broader appetite among institutions for digital assets like Bitcoin and Ethereum, both as a store of value and as collateral for loans.

November Elections: A Catalyst for Bitcoin Prices?

Another potential catalyst for the crypto lending market is the upcoming November elections in the United States. Ledn’s Chief Investment Officer, John Glover, pointed to the elections as a possible turning point for Bitcoin prices, which could further drive demand for crypto-backed loans. “There’s a lot of speculation that the November elections could be the next big event to push Bitcoin past its previous peak,” Glover noted. He added that institutional borrowing demand has been closely aligned with overall ETF demand, with a noticeable jump in July.

If Bitcoin prices surge following the elections, the demand for Bitcoin-backed loans is likely to increase even further, providing a significant boost to platforms like Ledn.

The Future of the Crypto Lending Market

As the crypto lending market continues to grow, Ledn’s record-setting performance in 2024 is a testament to the increasing demand for digital asset-backed loans. Both retail and institutional investors are turning to crypto lending as a way to access liquidity, capitalize on market events like the Bitcoin halving, and take advantage of the growing Ethereum ETF market.

With over $1.6 billion in loans processed so far this year, Ledn is positioned to continue leading the crypto lending market. As the year progresses, factors like the November elections and further developments in the digital asset space could push demand even higher, making crypto lending an increasingly integral part of the broader financial ecosystem.

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