WILLEMSTAD, Curacao, Sept. 27, 2024 /PRNewswire/ — BC.GAME, a leading crypto gaming platform, has officially announced the launch of the $BC Mining Rush, an exclusive event with a staggering prize pool of 1 billion $BC tokens. The event will run from October 1 to October 20, 2024, with pre-registration starting on September 24, offering players the chance to win daily rewards simply by placing bets of $1 or more.

This event is designed to offer participants an easy entry into the crypto space, providing opportunities for daily wins while keeping participation straightforward and accessible.

Key Highlights of the $BC Mining Rush

Massive Daily Prize Pool: Win Big with Just $1

The $BC Mining Rush features an impressive 50 million $BC daily prize pool. With just a $1 wager, participants can enter the daily prize draw, and larger wagers can boost their share of the winnings. This setup allows players of all experience levels to compete for a portion of the 1 billion $BC total prize pool, maximizing their potential returns.

Pre-Registration for Early Access: Don’t Miss Out

Registration for the event begins on September 24, 2024, and remains open until the event’s conclusion on October 20, 2024. Pre-registering ensures early access and maximizes a player’s chances of winning. Late registrants can still join, but with each passing day, the opportunities to win decrease.

Easy and Accessible Participation

The $BC Mining Rush has simplified the participation process to ensure that both new and seasoned players can easily take part. There are no complicated requirements or technical barriers—users simply place their wagers daily and watch their potential winnings grow. Daily winners will receive their rewards the following day, ensuring a smooth and transparent payout process.

Daily Rewards Structure: A Chance to Win Every Day

Each day of the event offers a fresh opportunity to claim a portion of the 50 million $BC prize pool. The more a player wagers, the greater their share of the daily prize pool. Players’ rewards are based on their percentage of total wagers for that day, making the event as fair as it is rewarding.

How to Join the Rush

Step 1: Register for the $BC Mining Rush on the BC.GAME website, starting September 24, 2024.

Step 2: Place a wager of at least $1 every day from October 1 to October 20, 2024.

Step 3: Watch your rewards grow daily, as the prize pool is distributed to participants each day.

A New Era of Crypto Gaming and Rewards

BC.GAME is known for pushing the boundaries of crypto gaming, and the $BC Mining Rush is no exception. By creating an event that combines ease of use with significant rewards, BC.GAME continues to set the standard for innovative promotions in the crypto space.

“We are thrilled to bring the $BC Mining Rush to our community,” said Jack Dorset, CEO of BC.GAME. “This event is our way of rewarding loyal players while introducing new users to the thrill of crypto gaming with the chance to win big.”

The $BC Mining Rush promises to be a landmark event in the crypto world, offering an unparalleled opportunity for participants to boost their portfolios with substantial rewards. Don’t miss your chance to be part of this exciting giveaway—register now and join the rush.

For more information, visit BC.GAME’s official website and follow them on social media to stay updated on all the latest developments.

About BC.GAME

BC.GAME is a leading online crypto gaming platform offering a wide range of games and sports betting opportunities. Known for its user-friendly interface, robust security, and commitment to innovation, BC.GAME continues to be a top choice for crypto enthusiasts worldwide. With exciting events like the $BC Mining Rush, BC.GAME provides unparalleled opportunities for both gaming and earning within the crypto ecosystem.

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SOURCE BC.GAME

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New Dubai crypto regulations are set to enforce stricter guidelines for virtual asset companies operating within the United Arab Emirates (UAE). The Virtual Assets Regulatory Authority (VARA), Dubai’s cryptocurrency regulator, has updated its advertising policies, requiring crypto companies to provide clear risk disclaimers. This move aims to enhance consumer awareness of the volatile nature of digital currencies, which have the potential to lose their value entirely.

Updated Guidelines for Crypto Advertising

Starting October 1st, crypto companies that want to market their services in the UAE must comply with the new regulations. The VARA’s updated guidelines demand that these companies include prominent disclaimers in their advertising to inform consumers that “virtual assets may lose their value in full or in part and are subject to extreme volatility.” This aims to address the growing need for greater transparency in the crypto market.

According to VARA CEO Matthew White, the new rules are intended to help virtual asset service providers (VASPs) deliver their services responsibly, ensuring that they build trust and transparency within the market. The UAE’s regulatory updates align with global trends, as various countries are taking action to control crypto advertising.

Aligning With Global Crypto Advertising Trends

Dubai’s new crypto regulations follow global trends in enhancing transparency in the rapidly growing digital asset market. For instance, the United Kingdom’s Financial Conduct Authority (FCA) introduced new guidelines in 2022 and, in 2023, took additional steps by banning “refer a friend” bonuses to prevent irresponsible promotion of crypto investments.

Belgium has also imposed rules to mitigate the risks associated with crypto advertising. Companies promoting digital currencies are required to include a disclaimer: “The only guarantee in crypto is risk.” This highlights the potentially unstable and high-risk nature of the assets and aligns with Dubai’s recent push for greater consumer protection.

Companies in the UAE looking to offer any kind of incentives or bonuses related to virtual assets must secure compliance confirmation from VARA. Incentive programs should not “divert or mislead” investors from properly assessing the risks associated with their investments. These updated guidelines aim to foster a more responsible approach to crypto marketing and to help protect consumers from potential financial pitfalls.

The Rise of Crypto Payments in Everyday Commerce

While the UAE strengthens its Dubai crypto regulations, cryptocurrency payments are making strides in the digital commerce sector globally. This trend has led to a growing acceptance of digital currencies as a payment method for various products and services.

For example, Alchemy Pay, a fiat-cryptocurrency payment gateway, announced on September 18th that its Virtual Card now supports Google Pay, allowing users to integrate digital currencies into their everyday purchases. This development indicates that despite regulatory challenges, cryptocurrencies continue to gain traction in the payments ecosystem.

Moreover, Visa (NYSE:V) has expanded its crypto initiatives by partnering with Singapore-based payments provider dtcpay to facilitate the conversion of digital currencies to fiat. This move will enable consumers and businesses to make seamless digital payments, further bridging the gap between traditional finance and emerging crypto technologies.

Tech-Driven Consumers Embrace Crypto Payments

The rise of Dubai crypto regulations mirrors a broader shift in how consumers perceive and use digital currencies. According to a PYMNTS Intelligence report titled “Shopping With Cryptocurrency: Tech-Driven Consumers Drive Market Acceptance,” tech-savvy consumers are increasingly adopting crypto payments as part of their daily transactions. The study shows that about 24% of these tech-driven consumers use cryptocurrency for 10 to 20 purchases per month, indicating a growing acceptance of digital assets in regular commerce.

This trend highlights the role of crypto in shaping the future of payments and the importance of ensuring transparency and consumer protection. With more consumers embracing cryptocurrency for online shopping, services, and even in-store purchases, regulations like those being implemented in Dubai are timely and crucial for the sustainable growth of the market.

What the Future Holds for Crypto in the UAE

The Dubai crypto regulations are part of a growing effort by the UAE to position itself as a responsible and regulated hub for digital assets. By ensuring that consumers are well-informed about the risks associated with crypto investments, VARA aims to build a secure and transparent environment for both investors and service providers. These measures not only protect consumers but also support the long-term stability and credibility of the cryptocurrency market in Dubai and the UAE as a whole.

As the digital asset market continues to expand, the balance between innovation and consumer protection remains critical. The UAE’s proactive approach in implementing risk disclaimers and controlling marketing practices demonstrates a commitment to fostering a responsible and transparent crypto ecosystem.

Investors and crypto companies alike will need to navigate these new regulations carefully, ensuring compliance while continuing to capitalize on the opportunities that digital assets present. With more developments likely on the horizon, Dubai’s crypto landscape will serve as an example of how regulators and market participants can work together to ensure safe and responsible growth in this fast-evolving sector.

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A recent crypto investment success has caught the attention of both the crypto community and skeptics alike. A trader transformed an investment of just $1,300 into a jaw-dropping $3.4 million within 15 days. While this story of turning a small investment into a life-changing fortune is inspiring, it also raises questions of insider trading or market manipulation.

The Moo Deng (MOODENG) Token Journey

On September 25, the on-chain analytics firm Lookonchain revealed the staggering returns of a crypto investor who used the Solana (SOL) blockchain to make this fortune. The trader initially sold 9.8 Solana tokens worth $1,331 to purchase 38.7 million Moo Deng (MOODENG) tokens on September 10. Over the next two weeks, the hippo-themed memecoin experienced an exponential price surge, ultimately turning the investor’s modest outlay into a $3.4 million windfall.

The meteoric rise of the MOODENG token drew both applause and suspicion from the crypto community. Such extreme gains are rare, and with a relatively low liquidity pool of $1.8 million, some speculate that it would be difficult to cash out this entire amount without significantly affecting the token’s price. This led to theories that the trader might have insider knowledge or connections to the token’s development.

Pure Luck or Insider Trading?

The staggering returns on this crypto investment success prompted mixed reactions. On one hand, some community members celebrated the trader’s luck, hoping to replicate similar gains with their own investments. On the other hand, the price appreciation and liquidity concerns raised doubts about the nature of the trade. Given the volatile and speculative nature of memecoins, such extreme returns often spark discussions around insider trading or coordinated price pumping by those with vested interests.

In a related instance on September 26, Lookonchain reported another rapid profit-taking event. An investor transformed a $95 purchase of INCEPT tokens into a fortune of $96,900 in under 12 hours. Similar to the MOODENG case, many of the wallet addresses linked to the INCEPT transactions were suspected to belong to insiders.

Memecoins vs. The “Hodl” Strategy

While investing in memecoins and altcoins can yield incredible returns, they also come with high risks and potential market manipulation. Alternatively, some investors adopt a “hodl” strategy, where they hold their assets through market volatility, banking on long-term gains rather than quick profits.

One notable example of this approach involved an investor who capitalized on the bear market of 2022 to accumulate Ethereum (ETH). The investor purchased 96,639 ETH from Coinbase (NASDAQ:COIN) between September 3 and 4, 2022, when the token was trading at roughly $1,567. By holding their investment through uncertain market conditions, the trader eventually profited by $131.72 million — a stark contrast to the fast-paced, high-risk nature of memecoin trading.

This example of crypto investment success highlights how both strategies — short-term altcoin speculation and long-term holding of established cryptocurrencies like Ethereum — can yield substantial returns, albeit with different risk profiles and time horizons.

The Challenges of Crypto Investing

While stories of sudden fortunes make headlines, they are not necessarily indicative of the average investor’s experience. The rapid price swings of memecoins and altcoins can lead to both dramatic gains and significant losses. Furthermore, the speculation around potential insider trading in some of these trades underscores the need for greater transparency in the crypto space.

The rise in decentralized finance (DeFi) has also contributed to the rapid growth and trading of memecoins and niche tokens, creating opportunities but also increasing risks. For example, MOODENG’s sudden price jump highlights the potential for life-changing returns, but also emphasizes the importance of due diligence, understanding market liquidity, and being aware of potential market manipulation.

Conclusion: Can Lightning Strike Twice?

The case of the crypto investment success with Moo Deng (MOODENG) and other instances of rapid wealth creation from altcoins may seem like pure luck to many, but they reveal the multifaceted world of crypto investing. Whether it’s holding mainstream tokens like Ethereum through market turbulence or diving headfirst into memecoin speculation, investors must weigh the potential gains against the inherent risks.

While such stories can inspire and draw more attention to the crypto market, they also serve as a reminder to approach every investment with caution and to thoroughly research opportunities before taking action. As the crypto market continues to grow and evolve, understanding its dynamics and potential pitfalls is essential for those looking to participate in this high-stakes game.

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DUBAI, UAE, Sept. 26, 2024 /PRNewswire/ — Bybit, the world’s second-largest crypto exchange by trading volume, is delighted to announce a major milestone as its registered user base surpasses 50 million worldwide. This extraordinary achievement underscores Bybit’s rapid growth and solidifies its position as a preferred platform for millions of crypto enthusiasts and traders globally.

Strengthening Global Compliance

Bybit has made significant strides in strengthening its global compliance efforts. The platform has actively engaged with local authorities in key markets such as Dubai, Netherlands, Turkey, and Kazakhstan, fostering collaborative relationships and ensuring adherence to regulatory standards. These initiatives underscore Bybit’s commitment to operating in a transparent and responsible manner.

Leading the Web3 Revolution

Bybit’s commitment to driving Web3 adoption remains unwavering. The platform’s Web3 team has achieved a remarkable feat, expanding its integration to over 130 million wallet addresses across 30+ chains. This expansion demonstrates Bybit’s dedication to providing users with access to a diverse range of decentralized ecosystems and opportunities. In the upcoming World Series of Trading (WSOT), Bybit’s DEX Wave will feature over 100 partners, including prominent names like Yescoin, Bonk, Catizen, Navi Protocol, Blackcardcoin, and Character X. Traders will have the unique opportunity to explore more than 1 million decentralized tokens, ranging from DeFi projects and GameFi assets to memecoins

Engaging Livestream Events

Bybit has also continued to foster community engagement through its popular livestream events. These interactive sessions offer users valuable insights into trading strategies, market trends, and the evolving crypto landscape. By providing educational content and fostering a sense of community, Bybit has enhanced user experience and driven growth.

Ben Zhou, Co-founder and CEO of Bybit, stated, “Reaching 50 million users represents the trust and enthusiasm of our community. We are grateful for the overwhelming support we have received and remain committed to delivering innovative solutions that enhance our users’ trading experiences. Our Web3 team’s achievements and our ongoing commitment to global compliance demonstrate our dedication to fostering a secure and reliable trading environment.”

Key Highlights:

• 50 Million Users: Bybit has achieved a significant milestone with over 50 million registered users.
• Web3 Leadership: Bybit’s Web3 team has integrated with over 130 million wallet addresses across 30+ chains.
• WSOT 2024: The platform will host the DEX Pro competition, featuring over 100 partners and 1 million+ decentralized tokens.
• Global Compliance: Bybit has strengthened its compliance efforts in a wide array of markets, including Dubai, Netherlands, Turkey, and Kazakhstan.
• Engaging Livestreams: Popular livestream events provide valuable insights and foster community engagement.
• Bybit remains steadfast in its mission to provide a secure, reliable, and user-friendly trading environment while continuously innovating to meet the needs of its vibrant community.

#Bybit /#BybitWeb3 / #Bybit50M

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

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PayPal Holdings, Inc. (NASDAQ:PYPL) has taken a significant step in the world of digital currencies by expanding its cryptocurrency offerings to U.S. business accounts. With this move, PayPal is responding to the growing demand from merchants who wish to engage in the cryptocurrency market. The company announced that U.S. businesses can now buy, hold, and sell cryptocurrencies directly through their PayPal accounts, enhancing their ability to transact in the evolving financial landscape.

This expansion comes as a natural progression after PayPal enabled retail consumers to access cryptocurrency services via both PayPal and Venmo accounts. Now, business owners can utilize these same features, allowing them to participate in a market that is becoming increasingly mainstream.

A New Era for Business Accounts

The move to allow PayPal cryptocurrency for businesses is seen as a major opportunity for the payment giant to tap into a growing market. According to PayPal’s Senior Vice President of Blockchain and Digital Currencies, Jose Fernandez da Ponte, there has been an increasing demand from business clients for the same cryptocurrency capabilities that have been available to consumers for years.

“Business owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers,” said da Ponte. The ability to buy, hold, and sell cryptocurrency provides businesses with a new level of financial flexibility, helping them integrate more seamlessly into a digital-first world. Furthermore, this initiative could open up opportunities for small and medium-sized businesses (SMBs) that seek to engage with the cryptocurrency economy but lack the infrastructure or resources to do so.

Expanding Payment Options for Merchants

PayPal’s new service also allows U.S. merchants to transfer cryptocurrency on-chain to eligible third-party wallets. This added feature gives businesses more control and flexibility in how they manage their digital assets, allowing them to operate beyond PayPal’s ecosystem. However, this service will initially exclude business clients based in New York due to the state’s stringent BitLicense regulations. Although PayPal holds both a BitLicense and a trust license from the New York Department of Financial Services, the company has not provided a timeline for when business services will become available in the state.

As cryptocurrencies become more widely accepted in commerce, businesses are keen to offer customers more payment options. With the introduction of PayPal cryptocurrency for businesses, merchants can better cater to crypto-savvy customers, expanding their reach and customer base.

The Growth of PayPal’s Cryptocurrency Services

PayPal’s foray into the cryptocurrency space began in 2020, when the company allowed consumers to buy, hold, and sell crypto assets directly from their accounts. Since then, PayPal has expanded these services to include a broader range of cryptocurrencies and integrations. In 2022, the company introduced PayPal USD (PYUSD), a stablecoin that is pegged to the U.S. dollar. In just a short time, PYUSD reached a significant milestone, surpassing a $1 billion market cap, further solidifying PayPal’s role in the digital currency space.

The launch of PYUSD is another key aspect of PayPal’s crypto strategy. As a stablecoin, PYUSD offers businesses and consumers a stable and secure way to transact in the digital currency market without the volatility associated with other cryptocurrencies like Bitcoin or Ethereum. This could prove especially beneficial for businesses that wish to accept crypto payments but are wary of price fluctuations.

Implications for the Financial Landscape

PayPal’s decision to broaden its cryptocurrency offerings for businesses could have far-reaching implications for the wider financial landscape. As one of the largest payment platforms globally, PayPal’s endorsement of digital currencies adds credibility to cryptocurrencies and encourages their adoption in mainstream financial transactions. This move also places pressure on other payment service providers like Visa (NYSE:V) and Mastercard (NYSE:MA), which have also shown interest in integrating cryptocurrency solutions.

Moreover, this shift could pave the way for other financial institutions to follow suit, potentially leading to more widespread adoption of digital currencies for business transactions. By enabling PayPal cryptocurrency for businesses, the company is positioning itself as a key player in shaping the future of digital payments.

Conclusion: A Step Forward for Crypto and Business

PayPal’s expansion of cryptocurrency services to business accounts marks a significant milestone for both the company and the crypto industry. By giving businesses the ability to buy, hold, and sell cryptocurrencies, PayPal is helping bridge the gap between traditional finance and the emerging world of digital assets. With increasing demand for crypto solutions from businesses, PayPal’s latest move could further cement its role as a leader in the future of digital payments.

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