ABBC Trade Plan To Achieve Target Soon; Burn Event Of 300M ABBC Coin Commences

The ABBC Foundation is pleased to announce that the ABBC Trade Plan is rapidly approaching its target of 320 million ABBC Coins. Thanks to our dedicated community, we have come within reach of this milestone. Our CEO Jason Daniel Paul Philip extends his heartfelt thanks to the ABBC community for making this possible. 

As announced previously, the ABBC Foundation is marking the Plan’s success with a scheduled burn of ABBC Coins to maximize the value in the ABBC ecosystem. After a careful analysis of our tokenomics, we have decided to burn 300 million ABBC coins

The ABBC Trade Plan represents a strategic retrieval of the community’s ABBC coins through the use of the ABBC Foundation’s funds. The plan’s structure empowers users by offering BUSD rewards in exchange for ABBC coins. 

The ABBC Foundation provides users with exciting rewards and earning opportunities. The opening rate was a wholesome 300% BUSD reward for every subscriber and the final reward rate is running at 240% BUSD. The rewards are being distributed on a weekly basis for a period of 365 days. 

The ABBC Foundation has also incentivized users with referral reward systems and have offered them a user-friendly interface that enables them to instantly track and claim their BUSD rewards whenever they want, with top-tier security.

Through this burn event, we are aiming to reduce inflation and maintain a healthy balance between supply and demand. By eliminating the 300 million ABBC Coins through an eater address, we are creating a safer, more robust and sustainable project economy. 

Further details about the burn event will be announced soon, through the ABBC Foundation’s official channels. 

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Lady Ape Club Launches LAC Rewards With Native Token Airdrop

  • Lady Ape Club (LAC) announced the launch of its native token, LAC.
  • Furthermore, the trending NFT collection has already begun airdrop of LAC tokens for its users from May 22 onwards.
  • Eligible users will need to hold Lady Ape Club NFTs, Baby Ape NFTs, and DNA to claim the LAC token airdrop.

On May 22, trending NFT collection Lady Ape Club (LAC) announced the launch of its native LAC token. Out of the total supply of the native token, 45% will be airdropped to eligible users through the LAC Shop. Users will be eligible to receive the tokens if they hold Lady Ape Club NFTs, Baby Ape NFTs, and DNA. 

According to reports, upon securing the position of the top selling NFT, LAC wanted to celebrate the success with their users. As an act of thanking the users for their continuous support, these native tokens will be airdropped to the holders of Lady Ape Club, Baby Ape, and DNA into their Aladdin Pro Wallet. 

According to LAC, Lady Ape Club NFT holders will be eligible to receive 1500 LAC tokens; if they held NFTs of both Lady Ape Club and Baby Ape Club, they would be eligible to receive 2500 LAC tokens; and finally for the users who hit the trifecta, holding all three — Lady Ape Club NFT, Baby Ape NFT, and DNA — would be eligible to receive 4000 LAC tokens. 

To claim the airdrop, users must visit the Lady Ape Club’s newly launched LAC Shop. The LAC Shop is a portal where users can order merchandise such as shirts and hats, and use their Lady Ape Club or Baby Ape NFTs as designs. Users must sign up to the LAC Shop using their previously registered STRMNFT email address. 

LAC says it aimed to make the claiming process convenient while still being secure. Eligible users must use the Aladdin Pro wallet before claiming their airdrop. When claiming their LAC airdrop, a verification will be sent to the eligible holders’ registered Aladdin Pro wallet email address. Afterward, the transaction will be verified by the Lady Ape Club administration team.

Staying in-tune with their brand qualities, LAC has also released a help guide for their users to help smooth the reward claiming process.The manual has a step-by-step instructional format to guide its users through the reward claiming process. 


LAC also shared a breakdown of its tokenomics. 45% of their native LAC tokens will be channeled towards LAC and BAC airdrop, 15% will be used in TNC Art, 13% will be offered to the early adopters and supporters of the LAC NFT community, 7% will be given to LAC founders, 10% will be directed to donations, and 10% will be used in ecosystem marketing. 

Income Sharks Correlates Memecoin Trends with the Total Market Cap

  • Income Sharks, the Twitter crypto analyst recently posted about the behavior of meme coins in the total market cap.
  • PEPE, LADYS, DOGE, and SHIB are seen as the top trending performers.
  • SHIB seems to have reached the rock bottom; it could be early signs of a bull run.

Income Sharks, the Crypto and market education, analysis and predictions page on Twitter recently posted a graph depicting the total market cap of the crypto with reference to trending memecoins.

Taking into account the memecoin’s behavior in the past four hours, PEPE is seen within the stipulated ranges of the bollinger band and since the width of the bands are contracting, PEPE can be expected to move sideways or consolidate.

However, when considering the previous bull run that occured from the same price where PEPE is of now, PEPE has the tendency to break Resistance 1 and reach Resistance 2. Hence, if the coin is on a bull run it is expected to test Resistance Level 1 at $0.00000301. If the bulls are strong enough to break Resistance Level 1, PEPE will move to test Resistance Level 2 at $ 0.0000371.

Contrastingly, if the bears overtake the market, PEPE may seek assistance from Support Level 1 at $0.000001109. Furthermore, if the bear’s stranglehold remains the memecoin may  break through Support Level 1 and move to test Support Level 2 at $0.000001571.

Considering the memecoin’s behavior for the past four hours, LADYS is seen moving inside the stipulated range of the bollinger bands. Since LADY has retraced after touching the upper band and is close to SMA, it could move in either direction. 

However, that occurred from the same price where LADYS is at now, LADYS has the tendency to reach Resistance 1. Hence, if the coin is on a bull run it is expected to test Resistance Level 1 at $0.000001594. Moreover, when considering the rise of LADYS, we could see that every rise was followed by a period of consolidation.

Interestingly, LADYS seems to be emitting the same behavior while it is falling down — every fall followed by consolidation. Since LADYS seems to be consolidating near the SMA, we could expect the prices to fall into the lower half of the Bollinger band.

As such  LADYS may seek assistance from Support Level 1 at $0.0000000612.

When considering the behavior of DOGE since April, we could see that it tested Resistance 2 a couple of times before falling below Resistance 1.

Currently, DOGE is fluctuating below Resistance 1. In particular, DOGE has been moving approximately within the $0.0773 and $0.08106 range. Thereafter, DOGE further fell and now it’s fluctuating with the $0.07102 and $0.07369 range. Since the Bollinger bands are squeezing, there could be more consolidation.

When considering the behavior of Shiba Inu we could see that it heavily depended on Resistance 1, which acted as a support level for SHIBA during its fall. We could see that even after falling below Resistance 1, SHIB still tested it. Nonetheless, the bulls were not strong enough to break through.

However, SHIB showed resilience as it was falling. The preceding thesis could be proven by the period of consolidation that was followed after every fall. Unfortunately, the bulls couldn’t hold onto SHIB for long. As such we could see the time period of consolidation shrinking with every fall.

Now it seems that SHIB has reached the rock bottom of the fall, hence, we may expect it to rise from the ashes. If this is the case for Shiba Inu, we could expect it to test Resistance 1 at $0.000017. However, once SHIB is on a bull run, Resistance 1 has not been able to contend its rise. As such, it may rise further and reach Resistance 2 at $0.00001112.

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

PEPE Tops LunarCrush AltRank; More Social Activity Than BTC

  • Memecoin PEPE ranked first on LunarCrush AltRank with more social activity than BTC.
  • PEPE is trading at $0.000002 with an increase of 9.86% during the last 24-hours.
  • PEPE Bears and bulls fight tooth and nail; but bears have the last say.

LunarCrush takes to Twitter to announce that Memecoin PEPE has topped LunarCrush AltRank and has showcased more social activity than Bitcoin (BTC).

According to LunarCrush, $PEPE ranked first on LunarCrush Altrank reaching a price of $0.000001903 earlier on Sunday. At press time, LunarCrush AtlRank is at 671st position out of the 4389 coin/token in the market.

AltRank is LunarCrush’ parameter that accesses a cryptocurrency’s community and traction and compares that across the entire cryptocurrency marketplace. AltRank is a culmination of metrics which makes a top 25 ranking coin/token attention worthy. The metrics include Market Volume Rank, Social Volume Rank, Percent Change versus Bitcoin Rank, and Social Score Rank.

According to LunarCrush’s  social dominance 24- hour-graph, $PEPE also projected more social activity than Bitcoin (BTC). $PEPE was valued at $0.000001730 at the time and was endorsed by five top influencers, namely, Ash Crypto, David Gokhshtein, SlumDOGE Millionaire, Crypto Rover, and BSC Gems Alert.

LunarCrush determines social dominance as the “share of voice” across all social media data. This is similar to Market dominance; however, instead of dividing a coin’s market cap by the entire cryptocurrency market, Lunarcrush divides a coin’s social volume by the entire cryptocurrency market’s social volume.

As per CoinMarketCap, at press time, the memecoin $PEPE is valued at $0.000002 which is a fall of 9.86% in the last 24-hours. $PEPE has a 24-hour trading volume of $433, 228, 314 and has a coinmarketcap ranking of 64. It has a live market cap of $676,842,556 with a circulating supply of 391,790,000,000,000 and maximum supply of 420, 690, 000, 000, 000 PEPE coins.

PEPE/USDT 4-hr Chart (Source: Tradingview)PEPE/USDT 4-hr Chart (Source: Tradingview)
PEPE/USDT 4-hr Chart (Source: Tradingview)

Taking into account the memecoin’s behavior in the past four hours, PEPE is seen within the stipulated ranges of the bollinger band and since the width of the bands are constant, PEPE can be expected to move sideways or consolidate.

However, when considering the previous bull run that occured from the same price where PEPE is of now, PEPE has the tendency to break Resistance 1 and reach Resistance 2. Hence, if the coin is on a bull run it is expected to test Resistance Level 1 at $0.00000301. If the bulls are strong enough to break Resistance Level 1, PEPEwill move to test Resistance Level 2 at $ 0.0000371.

Correspondingly, if the bears overtake the market, PEPE may seek assistance from Support Level 1 at $0.000001109. Furthermore, if the bear’s stranglehold remains the memecoin may  break through Support Level 1 and move to test Support Level 2 at $0.000001571.

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

Shariah-Compliant Coin’s Release Set To Spur Crypto Adoption in Muslim Nations

  • Haqq’s Shariah-compliant Islamic coin plans its public launch in 2023.
  • The 100% halal coin has helped boost crypto adoption in Muslim countries.
  • Haqq’s co-founder Mohammed Alkaff Alhashmi says, “The coin has the potential to become a tier-1 asset.”

Islamic coin ($ISLM), the native coin of the Haqq ecosystem, plans its public launch in 2023. Haqq is reported to be the world’s first ecosystem that abides by the principles and traditions of Islam. This particular coin focuses on providing the global Muslim population with a financial platform and is a 100% halal cryptocurrency.

According to the team, Islamic coin is poised to help alleviate the reservation Muslims hold about digital assets as it abides by the customs of Islam. Focused on driving crypto adoption in the region and boosting Islamic finance across 185 countries, Islamic Coin has received accreditation and authorization through the Fatwa of several Muslim authorities.

The organization states that its mission is to provide the global Muslim population with a financial platform enabling real-time, transparent, and cross-border transactions while supporting Web3 innovations and philanthropy. To this end, the network will dedicate 10% of each Islamic Coin issuance to philanthropic pursuits across the Muslim world.

Haqq Association, the ecosystem’s non-profit, has partnered with the International Islamic University of Malaysia (IIUM) to increase blockchain and crypto awareness with a positive learning environment. Haqq and Islamic Coin recently partnered with DDCap Group, and will be working on a Web3 Shariah-compliant alternative to SWIFT as well as other products.

Haqq is also forming several commercial partnerships with retail and e-commerce platforms to introduce Sharia-compliant Web3 technologies into traditional Web2 environments. Most recently, it has partnered with Holiday Swap, the world’s largest home exchange platform, to transition the company’s tokenized operations to Web3.

Claiming that the coin has the potential to become a tier-1 asset, Haqq’s co-founder Mohammed Alkaff Alhashmi states:

If only 3-4% of the online Muslim community holds the coin, it could become a Bitcoin-scale asset.

Given last year’s bear market, the Islamic coin placed a record-shattering feat securing over $200 million in August 2022. It’s also interesting to note that, in 2022 alone, cryptocurrency transactions in the MENA region accounted for $566 billion: a 48% increase from the previous year.

Venom Foundation Partners With Kenyan Govt. To Establish Blockchain Hub

  • Venom Foundation partners with the Kenyan Government to establish a blockchain hub in Africa.
  • It will foster knowledge sharing, networking, and collaboration in Africa’s blockchain space.
  • Cabinet Secretary Moses Kuria says that he is excited about this partnership.

Venom Foundation, a global blockchain company, announced a partnership with the Government of Kenya to establish a blockchain hub in Africa. Cabinet Secretary, Ministry of Investments, Trade & Industry of The Republic of Kenya Moses Kuria took to Twitter to announce this partnership.

In the post, Kuria said, “This partnership signifies Kenya’s stance towards next-gen technology, financial development, and will catalyze further innovations in various industries, benefitting people both nationally and globally.” Furthermore, the partnership will focus on the development of Web3 and blockchain technology applications.

Reportedly, the blockchain hub will act as a central platform for forging partnerships with innovative companies. It will help in fostering knowledge sharing, networking, and collaboration among key stakeholders in the blockchain space based in Africa.

Additionally, Venom also planned to supply crucial tools and resources to support African countries to establish a solid foundation for digital transformation. It would include areas where blockchain technology can make a significant impact such as supply chain management, land registry, voting systems, tokenizations of assets, and others.

The partnership aims to promote transparency, efficiency, and trust across various sectors throughout the continent by implementing these solutions. Christopher Louis Tsu, CTO for the Venom Foundation, commented that Africa is already rich in natural resources and human capital.

 Suggesting the entry of next-generation blockchain technology to Africa, he adds:

It [blockchain technology] will empower the people and help not only Kenya but many other African nations to capitalize on their assets and participate in new global markets.

The Kenyan government also expressed enthusiasm for the partnership. Kuria stated, “We are excited to work together with the Venom Foundation.”

TOADY Burns Another 1.5% Buy Back; Hopes for Favorable Future

  • Memecoin TOADY takes out another 1.5% of their market supply.
  • On Monday, TOADY secured the eighth position while trending on
  • TOADY is currently valued at $1.95e-10.

Toady (TOADY), the plump but adorable toad memecoin, recently took to Twitter to announce the burn of another 15,000,000,000,000 of their memecoins. In detail, TOADY has taken out a 1.5% buy back from the market.

On Tuesday, TOADY took 1.5% out of its total 1 quadrillion market supply. In effect, this leaves the current market supply of TOADY at 9.7e+14. They had previously burned 0.5% of the memecoin on Thursday, May 4. To date, the memecoin has burned a total of 30,000,000,000,000 coins, taking out a whole of 3% from their market supply.

According to the transaction details, the transaction took place for a gas price of 0.000109248 BNB at 3 gwei. Reportedly, the gas limit for this transaction was at 66.67%. It is interesting to note that this burn has created a hopeful wave among the memecoin followers as a Twitter user was seen replying, “Good things are …

The post TOADY Burns Another 1.5% Buy Back; Hopes for Favorable Future appeared first on Coin Edition.

Warner Music SG Partners With Affyn For Web3 Gaming Content Push

  • Warner Music SG and Affyn are collaborating to create new opportunities for Web3 gaming content.
  • A custom song with bilingual artist J.M3 will be produced for Affyn’s new game.
  • Affyn will be revealing its new game at its keynote event, Evolution, on May 10.

Warner Music Singapore and Affyn, a prominent Singapore-based Web3 company, announced today that they are partnering to create new opportunities for artists and audiences in the gaming industry.

The deal aims to motivate and inspire creators to explore the endless possibilities of the Web3 gaming world, and provide everyone with unique experiences that have never been seen before.

Lucaz Lee, the CEO of Affyn, believes that this collaboration with Warner Music Singapore will represent a new era of digital content consumption. The collab will leverage Web3 technology to support musicians, artists, creators, and collaborators to deliver an even more immersive and interactive experience for the audiences, according to Lee.

We look forward to the exciting possibilities that this partnership will bring to our platform and to the wider entertainment industry.

Gerald Ang, the Managing Director of Warner Music Singapore, added that they are delighted to collaborate with Affyn. The Warner Music SG team is looking forward to exploring innovative and creative approaches to promote Warner Music Singapore’s artists by taking audience engagement to unprecedented levels. Looking to tap into new avenues, Ang said:

We can broaden our reach in ground-breaking ways. We look forward to continuing our close partnership with Affyn and identifying more exciting opportunities for collaboration.

Affyn will be revealing more details about its new game set to launch this year at their keynote event, Evolution, on May 10. As part of the partnership, Warner Music Singapore will produce a customized song featuring bilingual artist J.M3 (pronounced Jamie) for Affyn’s new game. In addition, she will also be performing as a main character via an avatar in the game’s trailer, creating an immersive audio-visual experience for fans.

In related news, J.M3, with her recent releases such as ‘Castle’, ‘Don’t lmk’, and ‘Hot Sauce’, will also be dropping her highly anticipated debut EP titled 180:Athena on all major DSPs on May 19.

Crypto Analyst Aurelien Predicts BTC to Hit $200K in 2024, Will it ?

  • Crypto Analyst Aurelein predicted BTC to Hit $200K by 2024.
  • At press time, BTC is trading at $129,113 with a decrease of 0.38% in the last 24 hours.
  • BTC drops after a period of consolidation; it could fall following the present consolidation.

Crypto analyst Aurelien Ohayon aka TAnalyst took to Twitter to share some observations on the crypto market leader Bitcoin (BTC). The analyst predicted that BTC is heading for a bull run. It could be that he placed his bets on the upcoming Bitcoin halving in April 2024.

According to the infographics shown in the tweet, TAnalyst predicted that if BTC was to follow the same pattern within the linear regression, then it had the possibility of reaching $200K by 2024.

BTC At Press Time (Source: CoinMarketCap)

According to CoinMarketCap, BTC is currently valued at $29,113.11 with a fall of 0.38% in the last 24 hours.

BTC’s current CoinMarketCap ranking is at 1st position with a 24-hour trading volume of $15, 975, 921, 546 and a live market cap of $563,766,994,045. It has a circulating supply of 19, 364, 712 BTC coins and a maximum supply of 21,000,000 BTC coins.

BTC was consolidated around the end of April, hitting three monthly highs. It started showing a rise in value at the beginning of May, however, as the month progressed, BTC started falling and has since then been in the red. BTC hit four monthly lows and only rose above the opening market price once on May 5 with a value of $29,460.12.

BTC/USDT 1D- Chart (Source: TradingView)

When considering the chart above, we could see that BTC is on an uptrend rising within the linear regression. If BTC continues its trajectory within the linear regression it has the possibility of reaching Resistance 2 at $47.9K. However, during its march to Resistance 2, it may find Resistance 1 as a hard barrier to break.

In the event BTC is obstructed by Resistance 1, it may seek support at $32.4K. However, if the support at 32.4K fails to act as a launch pad for BTC’s next bull run, we could expect BTC to test Resistance 1 a few times and consolidate. 

However, BTC’s brief periods of consolidations have been followed by a drastic drop during the past months. And every contraction of Bollinger bands have been followed by an expansion. Hence, if this is the calm before the storm, BTC could fall. If it does fall, it may land on Support 2. But the question is, will the preceding happen with an impending halving. The wait is on.  

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

CryptoQuant’s Author MAC.D Explains Drop In ETH Price

  • Author at CryptoQuant MAC. D reveals the reasons for the fall in ETH price.
  • “When ETH transaction failures rise, it shows a market overheating and has often seen a price correction,” says MAC. D
  • Ethereum is currently valued at $1,900.12.

Leading on-chain data analytics provider CryptoQuant’s author MAC.D diagnosed the fall of Ethereum’s (ETH) price. The cause and effect relation is intricately explained in an article published by CryptoQuant on Twitter.

In the article, MAC.D pointed out that the recent Ethereum Shanghai upgrade and the activation of the network led to the occurrence of excessive transactions. “When the number of transactions increases, the network overheats,” he stated.

MAC.D further observed that if the gas limit is set too low as the network overheats, the transaction may not be completed and more Ethereum transactions may fail. Hence, in order to prevent damage to gas costs, he explained that the users, “compete to pay higher gas fees to complete transactions.”

Following that, MAC.D offered an insight into Ethereum’s average gas limit. He said, “Ethereum average gas limit allows users to specify a maximum gas limit to prevent transaction fees from being too high.” He remarked that ETH’s average gas limit has recently increased. As per ETH’s official page, ETH currently has an average gas limit of 21,000 units of gas.

The author indicated the fall of ETH’s price by taking an anecdote from the past:

When ETH transaction failures rise above 200,000, it shows a market overheating and has often seen a price correction.

Furthermore, MAC. D stated that even though there seemed to be an adjustment tax due to overheating, it may be a short-term phenomenon. Subsequently, looking at the BTC MVRV cycle indicator, MAC.D denoted that ETH is currently at a low. He suggested, “there is still room for further upside.” He also advises that it would be a good idea to use the ‘corrective market’ to ‘accumulate’ ETH.

According to CoinMarketCap, ETH is currently valued at $1,900.12 with a surge of 1.80% in the last 24-hours. — A Bridge Between Creators and Fans, Launched by Mariana Avila, a blockchain-based social app, enables content creators to create a loyal and active community of fans, helping them access more funding and engagement while the fans connect directly with their favorite creators and receive exclusive benefits and real-value rewards based on their engagement.

Content creation is increasingly skewing towards social networks across the globe, and Mexico has proven no different. The country has a dynamic, diverse, and attractive country in terms of digital content creation, and the latest move aims to boost’s presence in the region. Despite the growing presence of content creators on social sites, many creators are unable to keep the connection with their fans, especially when their follower count starts to increase. As such, fostering an authentic community grounded in common beliefs becomes progressively difficult, given the prevailing social media landscape hinders creators from connecting in a mutually beneficial manner.

“We know social media very well. Our first venture is a royalty-free music company for social media creators and there our tracks brought life and identity to millions of content, mainly on YouTube,” said Moris Alhale, CEO of during the launch. “After working with creators for years, we learned the difficulties creators face when trying to get access to funding to grow their channels and connect with their communities in a more personal way. So we decided to create to help them overcome that challenge.”

The launch of aims to solve this particular challenge, enabling fans and their favorite content creators to connect in an innovative way and create communities that offer real value to both the fan and the creator. The platform allows creators to raise funds and capital through various initiatives on the platform while boosting engagements. Flipping the board, fans are able to acquire ‘CreatorPasses’, which gives them access to exclusive channels of their favorite creators for three months. Additionally, loyal and active fans will receive rewards and benefits as they increase their engagement.

To liven up the launch, popular Mexican artist and the first Latin creator to join, Mariana Avila will run a live watch party on her exclusive Discord channel, this Thursday, May 4 at 3:00 pm (Central Mexico time). During the live watch party, Avila will celebrate the release of her new music video. The live party will be shown exclusively on and all subscribers can follow it live. Additionally, new subscribers will receive a special video message from the artist.

“ will allow me to watch the live premiere of my video ‘Tempura’ with my fans, as well as interact with them. But beyond this beautiful experience, the platform is all about empowering creators and giving us the tools to reward our most engaged fans. For me, the launch is the beginning of a great story and one of the most important stops on my artistic journey; I’m very flattered,” Mariana Avila said.

Following the launch of the ‘Tempura’ video, Mariana Avila’s fans will also get a CreatorPass, giving them access to the singer’s exclusive community where they will be rewarded for supporting her and giving them an opportunity to chat with the creator.

Apart from fan engagement, also aims to help connect Web 2.0 audiences to the growing Web 3.0 ecosystem via several features including building tools, NFTs and blockchain infrastructure with a seamless user experience that facilitates the purchase of digital collectibles.

Speaking on the growing ecosystem, Alhale said, “What we want is to offer creators a robust new monetization platform, which at the same time incentivizes and rewards fan engagement to foster loyal and highly active communities. Content creators who join this project that we are launching in Mexico, will eventually have the opportunity to fund their channels and projects while interacting with their most loyal followers uniquely. Our main objective is to empower creators and revolutionize the social media experience for millions.”

‘Someone Wants To Orchestrate A Pump For XRP,’ Says John Deaton

  • Founder of CryptoLaw John E Deaton believes that someone wants to orchestrate a pump for XRP.
  • Deaton arrived at this idea due to an update provided by a crypto news outlet on the Ripple Vs SEC case.
  • XRP market price surged by 0.20% in the last 24 hours.

Founder of CryptoLaw John E Deaton alleges XRP price orchestration following a tweet posted by Blockchain Daily, a cryptocurrency news publishing platform. In the Tweet, it was stated that Ripple and Securities and Exchange Commission (SEC) were to hold an undisclosed meeting.

Offering a stirring update on the trailblazing Ripple vs SEC case, the tweet from Blockchain Daily’s official handle read, “Just In: Reportedly Ripple and SEC to hold undisclosed meeting on May 8th – Unconfirmed Source.”

Deaton responded by challenging the authenticity of this news. “I’m willing to bet this is false,” says Deaton, as he points out that the SEC and Ripple layers could meet anytime they so desire. He further adds,  “I don’t think they would pick a date a week from now and then leak it out.”

The lawyer goes on to explain that this is not how a settlement happens. He emphasizes that the only time a settlement occurs is after a ruling by the judge happens. In this case, it will be by Hon. Judge Torres. Deaton highlights that this scenario will only arise if Ripple gets a big victory. In that event, it could lead to offering a political win for the SEC and help Gary Gensler, SEC Chair, save face via settlement.

However, Deaton does not believe there is any way Gensler can save face, as he states, “Sorry, not going to happen.” He further questions on what basis Gensler would agree that the sale of XRP, now and in the future, would not be treated as a security, while he [Gensler] continues to challenge Coinbase and the others. Deaton observes critically:

He [Gensler] could somehow claim that XRP is like no other token after claiming that it was like others for over two years.

It is under these circumstances that Deaton believes that this might be a deliberate attempt to pump the value of XRP in the market. Referring to the claims of market manipulation and insider trading, he says, “They wouldn’t set a meeting and run the risk of a leak and influence the market.” Deaton reconfirms that they would just meet, come to terms, and only then would report a settlement to the judge.

According to Coinmarketcap, XRP is currently valued at $0.465240 with a 24-hour trading volume of $858,183,678 showing a surge of 0.20% in the last 24 hours. XRP was consolidating at a price of $0.4638 at the time Blockchain Daily posted the tweet and has not shown much change since.

ADA Hits Highest Cumulative Code; ADA Whale Explains In 25 Tweets

  • Twitter crypto researcher Emperor Osmo states, “$ADA has the highest cumulative code commits.”
  • Inquisitive Emperor Osmo asks, “What are they building over there?”
  • ADA Whale replies with a 25-tweet-long Twitter thread on the latest Cardano updates.

Referring to Cardano’s native coin ADA’s high code commits, Twitter cryptocurrency researcher Emperor Osmo wondered what the Cardano ecosystem was building. To this, an ADA Whale responded with a 25-tweet-long thread that sparked conversations.

In Emperor Osmo’s Tweet he stated, “$ADA has the highest cumulative code commits” posting a graph that denoted Cardano to be the highest project with 106 cumulative code commits. Cardano is the highest among top 25 projects in all market sectors based on daily cumulative code commits.

Cardano is followed by Polkadot and Kusama, both of which have cumulative code commits at 75. When compared with Cardano, there is a vast gap between itself and the others. The response thread held Cardano’s latest updates referring to its vibrant ecosystem.

The ADA whale highlighted their minor and major news, L1+L2 upgrades, stats, Dapps, Spores Network Price (SPO), NFT, governance, community and more in the thread. It also included updates on the rise in native tokens, progress in more projects such as portfolio self-management platform, multi-transaction sending DApp, gamified NFT, and a hackathon.

The updates further included projects from across different sectors like banking, DeFi, RealFi, new wallets, and bridges among other ventures that are growing in the Cardano ecosystem. Apart from the updates within the Cardano network provided by the official ADA channel, many more projects were brought into the spotlight by other Twitter users.

One Twitter user enquired as to why there is no mention to VyFinance, another upcoming project in Cardano. The Twitter user had asked if there was something wrong with the project and why it lacked support, to which ADA Whale responded that they had been supporting the project from day one. As a justification to this almost-allegation, the ADA whale revealed, “I’m just an anon amateur doing this [All Things Cardano] in my free time.”

Senator Ted Cruz Endorses BTC, Reignites Crypto Market Interest

  • MicroStrategy Founder Michael Saylor posted a video of Senator Ted Cruz on Twitter.
  • Cruz says, “I’m incredibly bullish about crypto as a whole and bitcoin in particular.”
  • The senator reveals he’s a Bitcoin investor and owns more every Monday.

MicroStrategy Founder and Chairman Michael Saylor recently posted a video of Senator Ted Cruz on Twitter, where Cruz is seen explaining that he is incredibly bullish on Bitcoin (BTC).

The clip, which was recorded during the Senators talk at the Bitcoin Policy summit on Wednesday, April 26, depicted that Cruz was incredibly excited about crypto as a whole. He also said he was particularly bullish on BTC. Cruz was of the opinion that BTC is the alpha in the crypto sphere, both in terms of ranking first and being the most dominant coin.

Cruz further described that the analogy of BTC being called as digital gold is powerful and that the insight that led to its creation is still extraordinary. In the video, Cruz was seen establishing his confidence in BTC by stating that he makes personal investments in them. He said that every Monday morning he has a standing order to add more BTCs to his ownership. The senator revealed: 

I’m a BTC investor personally, I own a little more than 2 BTCs and every Monday I earn a little bit more.

Cruz went on to say that he bought the dip, and that he was happy with it which was when he disclosed that he is a long-term investor and finds the volatility in the market completely normal. Referring to the 21 million BTC cap, Cruz said:

There’s going to be ups and there’s going to be down, but 21M is a firm [constant] number.

BTC has seen a promising increase in the last 24 hours, rising over 8% to touch $30,000 on Thursday, April 27, despite falling back to the $29,000 mark. At press time, BTC is valued at $29,309.10.

Furthermore, Cruz believes that one of the attractions of BTC is that it works as a hedge against inflation, especially he adds, “when politicians in Washington carry on a spending binge.” Additionally, the fact that BTC is decentralized makes it powerful as it is far less susceptible to government control, says Cruz.

Cruz’s endorsement of BTC is significant given his past criticisms of crypto. He had previously called for a ban due to concerns about illegal use but now seems to have shifted his views, with actually vouching for the same now. This comes as cryptocurrencies face scrutiny from regulators worldwide, making Cruz’s support a milestone for the industry, showing that traditional institutions are gradually embracing crypto.

Blur Ranks First Among Top 10 NFT Marketplaces By Trading Volume

  • Crypto analyst Ben GCrypto announced the top NFT projects based on their trading volume.
  • In the list, Blur, OpenSea, and X2Y2 are ranked in the top three positions.
  • Blur ranked first, amongst the top 10, with a trading volume of $899M.

Crypto analyst Ben GCrypto took to Twitter to announce the top 10 NFT marketplaces based on their trading volume for the last 30 days. From the analyst’s list, Blur, OpenSea, and X2Y2 are ranking in the top three positions at $899M, $303M, and $36M, respectively.

As seen in the projection of the list, Blur was ranked first with a trading volume of $899 million. At press time, BLUR, which is the native token of Blur, is priced at $0.6361 experiencing a surge of 71.65% trading volume over a day, hitting a one-month high at $0.8329.

Second to Blur is OpenSea with a trading volume of $303 million. However, OpenSea has shown a visible drop of 48.2% which is, 262,498 traders in 30 days. The NFT marketplace X2Y2 is valued at 36 million, holding the fort at rank 3. At the time of writing, the native token of X2Y2, also called X2Y2 is priced at $0.04097 with a 24-hour trading volume of $330,691.

In the fourth place stands Immutable X Marketplace valued at $27 million and has a native token IMX that has a live price of $1.01 with a 24-hour trading volume of $49,404,624. It is observed that Immutable is down 0.22% in the last twenty-four hours with CoinMarketCap ranking it at 53. 

Right at the median stands CryptoPunks and JPG Stores which hold the fifth and sixth positions and are valued at $20 and $4.7 million respectively. CryptoPunk has a native coin called UPUNK that has a live price of $0.030288 and a 24-hour trading volume of $142.57.

NFT marketplace ThetaDrop holds the seventh position with a trading volume of $4.6 million and LooksRare is in the eighth position with a trading volume of $2.7 million. The native token of ThetaDrop is called TDROP and is priced at $0.003225 at the time of writing and has a 24-hour trading volume of $40,883.50.

LOOKS the token of LooksRare is currently priced at $0.129567 with a 24-hour trading volume of $4,855,856. LooksRare is down by 4.43% in the last 24 hours and has ranked 258 on CoinMarketCap.

The ninth position is taken up by Element, while the tenth and the last position of the NFT Marketplace race is taken up by Axie Marketplace. Both these NFT marketplaces are valued at $2.6 million, respectively.

Crypto Twitter Personalities Celebrate Troll Video of SEC’s Gary Gensler

  • Head of SEC Gary Gensler takes heat on Twitter over his latest appearance in the Oversight hearing.
  • Crypto personality The Dev created a troll video on Gensler which has been retweeted by Bitboy Crypto.
  • The troll video mocks the lack of clarity Gensler has over his regulatory rules.

Crypto influencer Ben Armstrong, known on Twitter as Bitboy Crypto, has recently retweeted a troll video created by The Dev, another popular crypto personality, on Gary Gensler, the infamous Chairperson of the U.S. Securities and Exchange Commission (SEC).

In the video, an actor is seen mockingly impersonating Gensler while he makes regulatory rules on the tokens. The video satirically points out that Gensler heads out to make regulatory rules on securities and tokens according to his whims and fancy.

Armstrong explicitly celebrates this video, as he says, “OMG this is hilarious. The Dev for the win.”

The lashing out from the crypto community was in response to the stance, or lack thereof, taken by Gensler in the recent Oversight Hearing. Gensler had appeared, on Tuesday, in front of the House Financial Services Committee to provide regulatory clarifications.

According to a US Senate Banking Committee hearing video published on YouTube, it is seen that Gensler was far from providing clarity to any of the regulatory measures taken by the SEC upon being questioned repeatedly by Committee Chairman Patrick McHenry (R-N.C.) and Rep. Patrick Toomey.

Gensler, it seems, managed to evade questions by the lawmakers so skillfully that the questioners had to give up, as they were either out of time, or out of patience. The community strongly believes that Gensler had no intention of pointing out what factors would classify a token as a security, even though he was repeatedly questioned about the same.

Gensler’s approach to establishing a policy of regulation by enforcement, without providing confirmation on how crypto companies should operate has always been widely criticized by the Twitter community. Gensler is now viewed as their arch nemesis, and as being aggressively anti-crypto by the crypto industry that once saw him as a potential ally.

BNB Chain Launches Decentralized Storage Initiative ‘BNB Greenfield’

  • Zoe Wei, Head of Developer Relations and Marketing of BNB Chain speaks about their latest launches — BNB Greenfield and the Zero2Hero Hackathon.
  • BNB Greenfield is a decentralized storage network solution that aims to solve the current industry challenges.
  • The Zero2Hero Hackathon started on April 17 and will last till May 14.

Zoe Wei, Head of Developer Relations and Marketing of BNB Chain speaks about her recent initiative ‘BNB Greenfield’ which focuses on decentralized storage and the Zero2Hero hackathon in an exclusive YouTube interview with Coin Edition.

In the video, Zoe Wei can be seen speaking about BNB Greenfield and explains it as a decentralized storage infrastructure within the broader BNB chain ecosystem. She tells Coin Edition that the idea is to help users and DApp to trade, store, and exchange data with full ownership and to form a new data economy.

Wei explains that BNB Greenfield stands apart from other decentralized storage systems with its data access, programmability, full ownership, and speed. Furthermore, she highlights that BNB Greenfield is teaming up with various decentralized networks such as AWS or GOOGLE, which can still remain as an individual’s primary storage provider, while BNB Greenfield acts as a secondary provider.

To help large-scale adoption, “We’re trying to provide a user-friendly infrastructure to develop apps that can create a user experience very similar to Web2,” says Wei. When asked about how BNB Greenfield will tackle the challenges in the current decentralized storage network landscape, she replied, “BNB Greenfield can minimize the speed taken to compile encrypted data from different providers. We can also offer ownership to data which can then be commercialized, unlike other blockchains.”

Wei also spoke about some industries that could benefit from this technology such as personal cloud storage, web hosting, and content creators. Further in the interview, she announced that their Zero2Hero Hackathon had launched on April 17 and would last until May 14. This hackathon is a “technology bootcamp” that is aimed at aiding individuals who wish to join Web3 but do not have the technical skills required.

Wei states that this four to five week long bootcamp offers more than 20 workshops across seven tracks. The participant will be able to find project partners from across the world and then bring their ideas to life.

“It does not stop there,” Wei adds; if the projects are valid then the winners will be moved to an ‘incubation round’ which is incentivized by both their web2 and web3 partners. BNB Greenfield has partnered with AWS, Google Cloud, Tencent, Channelling, Acceler, UniSwap, Pancake, and more for the same.

Crypto Market Recap Q1: 2023 Reflects A Steady Climb

The crypto market in 2023 is breaking out afresh! With the previous year closing with tumultuous lows rather than highs, the new year is ushered in on an upbeat note. The crypto market is making the most out of this year, showcasing massive growth, unveiling airdrops, new projects, token sales, and increasing investment activity in Web3.

With the rapid growth in the first quarter of 2023 that is likened to the pace of the pre-FTX-crash era, CryptoRank believes that the tough days of 2022’s market are in the past. That being said, Q1 2023 did not pass without problems: the most worrying one came from outside DeFi, the commotion in Traditional Finance (TradFi).

The banking crisis posed a great threat to the crypto markets. As crypto is still mostly an investment instrument, the global financial market’s fight with inflation that could lead to a recession will hurt crypto. The threat could be deflected, but these conditions tend to create a hostile market for crypto in a way. However, from another perspective, the challenges of TradFi can also stimulate the adoption of crypto and trust in crypto.

In this 2023 Q1 recap, we will go through the following:

  • Heralding of the bull market
  • Onset of the airdrop season
  • Comeback of DeFi
  • Trend that is Layer 2
  • Inclination towards fundraising
  • Status of the NFT market

Heralding of the Bull Market

After several weeks of volatility from the domino effects that came from the FTX collapse, such as the Genesis panic, BlockFi bankruptcy, Galaxy fiasco, and many more, we still witnessed growth in Bitcoin in January 2023. This growth was followed by an average performance in February and some peaks offered in March.

Among the top ten performers in Q1 was Bitcoin, along with other notable top 100 projects. The Bitcoin moment was marked by the performance of BTC through the weeks of collapsing banks. It was at this point that BTC marked its dominance as one of the highest points in almost a year. Next was Solana, which made a head-turning comeback, after performing poorly in Q3 due to its strong bonds with FTX. Surprisingly, it showed 109% gains in Q1. The next in line was Lido, with a growth of 134%. The last was Aptos, with an exemplary increase of 230% in this quarter.

Even though several incidents took place, such as USDC being de-pegged from $1, BUSD being banned by the government, and the suitcases against crypto firms and entities, the market remained strong. Thanks to the market recovery and strong growth in particular ecosystems, many projects showed commendable numbers this quarter. DeFi was one of the best-performing categories of Q1 overall, especially decentralized exchanges. Other projects, such as those based on Layer 2 Arbitrum and Optimism blockchains, performed better than others, such as Camelot, Radiant, Capital, Velodrome, and Gains Network.

Onset of the Airdrop Season

The first big airdrop happened in February by Blur, one of the biggest NFT marketplaces that airdropped about $300 million worth of tokens. With this action, Blur surpassed OpenSea, the largest NFT marketplace. March had even bigger airdrops, as Arbitrum announced the airdrop plan and launch of the DAO. With its success, ARB seamlessly got into the top 50 and held a strong position.

DeFi Rises From the Dead

DeFi started on the path of recovery as the market improved. The latest trend in DeFi is liquid staking, which is the key element of Proof-of-Stake networks. Liquid staking has many benefits to its credit – it’s a significant source of income for thousands of validators and delegators. The Shapella update is now enabling ETH withdrawals, increasing the popularity of liquid staking. Lido and Rocket Pool, the derivative coin, showed outstanding performances in the first months of 2023.

Arbitrum, Solana, and Optimism showed a notable increase in total value locked (TVL) in Q1 2023 as Ethereum retained the leading position among the blockchains with a noticeable gap from Tron and others.

In terms of combined TVL, liquid staking protocols were the second after DEXs having surpassed Lending and Borrowing protocols. A total of over $16 billion in TVL combined was second to DExs 759 protocols. This means that the total value locked increased by nearly 40% since the start of the year. Protocols based on Layer 2, such as Camelot, Velodrome, and Gains Network, saw a sizable increase in total value locked. Lightning Network showcased an outstanding performance thanks to the growing adoption of Bitcoin as a means of payment.

Trading volume of DEXs experienced an approximate 30% increase in the first quarter of 2023 after two quarters of decline. Also, the DEX/CEX ratio has now increased to a level similar to November 2022. It is observed that while the DEX/CEX ratio remains 4% below the January 2022 all-time high, the rising popularity of blockchain tech may propel this indicator to new record levels.

The Trend That Is Layer 2

Layer 2 blockchains are estimated to gain more traction among crypto users in 2023, with the initial attention being drawn towards Optimism, which offered a substantial airdrop to the wider crypto crowd. Following that, Arbitrum gained recognition for its incentivizing activity called the Arbitrum Odyssey. The launch time of these Layer 2 blockchains was impeccable as it came at a time the users benefitted from the features they offered – all the benefits of Ethereum but with faster transaction times, lower costs, and higher capacity.

At the start of this year, the Layer 2 landscape shifted once again, thanks to the airdrop from Arbitrum. Soon after the ARB airdrop, zkSync announced the launch of the first zkEVM mainnet, called zkSync Era, which generated a lot of interest and drove transaction numbers to new heights. After which, Polygon launched its highly anticipated zkEVM as a mainnet beta. ConsenSys, a major player in the crypto industry, has recently unveiled its zkEVM public testnet, named Linea. Furthermore, Coinbase has launched its own Layer 2 network, known as Base. Even though we are still in the early stages of Layer 2 tech, there is great potential for the emergence of new and exciting rollups.

Inclination Towards Fundraising

The trend has been gradually reversing for fundraising activities as opposed to the significant drop that it experienced following the FTX collapse. In February 2023, token sale activities saw a significant boost. This positive trend continued into March, with monthly fundraising exceeding that of May. While initial exchange offerings (IEOs) brought the highest returns to token sale participants, initial decentralized offerings (IDOs) were more prevalent. The top 10 projects by current return on investment (ROI) indicate that AI projects performed exceptionally well, with Space ID being one of the best performers on Binance.

Projects on Arbitrum raised the most funds through token sales in Q1 2023, largely due to several successful token sales on Camelot. However, both Binance Chain and Ethereum surpassed Arbitrum in terms of the number of projects that held a public sale during the quarter.

Status of the NFT Market

The NFT market is surely expanding to innovative cases beyond just art and collectibles even though it may not be experiencing explosive growth at the moment. As such, NFTs are distinguishing themselves in their use to represent ownership of physical assets such as real estate or even carbon credits. Additionally, NFTs can be used to create unique experiences and unlock access to exclusive content or events. Hence, the potential for this technology to disrupt various industries and create new opportunities is still very much alive.

Sensorium Joins Hands with DWF Labs To Develop Sensorium Galaxy Metaverse

  • Tech company Sensorium secures purchase of $2.5 million worth of SENSO tokens from DWF Labs.
  • The goal is to develop the Sensorium Galaxy metaverse beyond the VR metaverse landscape into Web3.
  • Starship and UNDER will be the first two virtual environments to become available on the platform.

Tech company Sensorium announced a purchase of $2.5 million worth of SENSO tokens from DWF Labs, a leading industry blockchain market maker. This investment will help to develop Sensorium Galaxy metaverse beyond its influential role in the VR metaverse landscape and into the vast Web3 space.

Andrei Grachev, the Managing Partner of DWF Labs, expressed his excitement in supporting Sensorium Galaxy in their growth. He stated:

“We are proud to back the visionary project that is Sensorium Galaxy as they continue to redefine the metaverse and unlock new opportunities within the Web3 space.”

Grachev also says that they firmly believe in the potential of SENSO as a driving force in Sensorium’s expansion and that they look forward to witnessing the transformative impact this collaboration will have on the future of entertainment and blockchain gaming. To this, Alex Firsov, Web3 Director at Sensorium responds:

“We’re thrilled to have the support of DWF Labs as we continue to push the boundaries of the metaverse and explore new possibilities in the Web3 space.”

Currently, Sensorium is developing a parallel web-based platform where the company, external developers, and content creators will be able to release virtual worlds and experiences that seamlessly integrate to Web3 native features fueled by SENSO. This will include NFT minting, marketplace operations, AI integrations, VR and AR mode for digital assets, and blockchain game mechanics.

Moreover, the first two virtual environments to become available on the platform will be Starship and UNDER, which are dedicated to social interactions and blockchain gaming respectively. The launch for these is planned for H1 2024.

Additionally, the company had also entered a public playtest on Steam earlier this year and created a AAA metaverse. It featured the company’s first virtual world PRISM, which was dedicated to music and provided access to 24/7 immersive parties. In the coming months, the firm is planning to release three VR performances from their chart-topping line-up of DJs, including David Guetta, Carl Cox, Black Coffee, and Armin van Buuren among others.

“Bitcoiners Only Care About Price Go Up” Says CakeDeFi CEO

  • “MicroStrategy now owns 1 out of every 150 Bitcoin that will ever exist,” tweets Bitcoin Magazine.
  • DiFrancesco responds, “One of the least bullish things about Bitcoin I’ve heard recently. No idea why anyone pro-Bitcoin would celebrate this.”
  • Hosp says, “Bitcoiners don’t care about the mission, they just care about ‘price go up’.”

CakeDeFi CEO Julian Hosp took to Twitter to suggest that many Bitcoiners who claim to support Bitcoin’s mission of decentralization and financial freedom are actually more concerned with their personal financial gain.

Hosp was seen responding to ScopeLift founder Ben DiFrancesco’s reaction to MicroStrategy’s announcement of owning 1 out of every 150 Bitcoin that will ever exist. Interestingly, DiFrancesco belittles Microstrategy’s announcement by saying “Honestly one of the least bullish things about Bitcoin I’ve heard recently. No idea why anyone pro-Bitcoin would celebrate this.”

DeFrancesco’s statement sparked a discussion on Twitter regarding the true philosophy of Bitcoin. Furthermore, many Twitter users and Bitcoin enthusiasts were seen responding to this statement including Hosp. Hosp says:

“Because deep inside, Bitcoiners don’t care about the mission, they just care about ‘price go up’ like everyone else.”

Additionally, he also states that Bitcoin holders hide behind a fake mission by calling everything else “shitcoin.” He can be seen implying that Bitcoin supporters dismiss all other cryptocurrencies as inferior because they do not have the same potential for financial gain as Bitcoin.

Moreover, Hosp supports this argument as he puts out a simple thought experiment. He asks, “Would you be ok for Bitcoin to be the global world reserve, but neither you, nor anyone you know keeping their bitcoins, meaning you would have the same purchase power as today?”

Hosp believes that most Bitcoin holders would not be satisfied with this outcome as they would answer with, “No, that would be unfair, I have been holding for so long.” He adds, that’s exactly his point, that their [Bitcoin holder’s] primary motivation is not the success of Bitcoin’s mission but rather their own financial gain. Hosp believes this is totally fine and only urges people to be honest about it without hiding behind a facade of supporting a particular mission or ideology.

“Craig Wright Sues Everybody,” Says Hoskinson During His AMA

  • Cardano founder Charles Hoskinson holds a surprise AMA session on his YouTube channel with Tamara Hassan, President of IO, as guest.
  • Hoskinson shrugs off Craig’s accusation and calls it futile.
  • An announcement was made on the launch of a new decentralized exchange (DEX) that will run on a layer 2 solution.

Cardano founder Charles Hoskinson held a Surprise Ask Me Anything (AMA) session to which Tamara Hassan, President of IO was invited as a guest. The two were seen speaking about several topics related to cryptocurrency and blockchain technology.

The host of the show, Hoskinson, and guest Hassan were seen answering questions asked by the viewers on Hoskinson’s YouTube live. One such viewer’s question was, “Will Craig Wright be getting a Xmas present from you this year?” to which Hoskinson replied, “This is a need for crypto media or crypto podcasts to create drama by giving some inflammatory gas.”

Citing a podcast interview incident that happened to Hoskinson, he explains how the media picks up topics of the crypto feud. When talking about an interview given by Wright, Hoskinson quotes, “Craig always says the same thing, that Charles is a scammer”, adding that Wright thinks everybody is a scammer. Subsequently, this remark was tweeted to Hoskinson by a podcaster to whom Hoskinson said he replied, “I don’t care.”

When the podcaster had invited Hoskinson to speak up about this rebut, Hoskinson goes on to say that the best case scenario is, “no one cares” and the worst case scenario is that Wright sues him. Furthermore, Hoskinson says, “It’s such a nuisance dealing with this guy [Wright]!” Hoskinson explains that it is like fighting somebody made out of molten tar, that even if you win the fight, the tar never comes off.

Hoskinson says that we should focus on things of value. Furthermore, his guest, Hassan also adds to this by saying, “It’s not going to add any value to anybody, not the people who are watching either.” However, she suggests that a discussion between Hoskinson and Vitalik would be very interesting and would have substantial things to say. Hoskinson agreed to this saying that there are plenty of productive ways to engage with Vitalik.

During the YouTube live, a major announcement on the launch of a new decentralized exchange (DEX) that will run on a layer 2 solution was made. The DEX will also integrate several popular DeFi protocols, providing users with a seamless experience for trading, lending, and borrowing.

Crypto Exchanges Should Be Transparent About User Accounts: FatMan

  • FatMan tweets about the need to be more transparent around the user’s trading details.
  • CSO of Binance affirms that trades made are primarily algorithmic for market stability purposes.
  • The FTX fiasco holds back the crypto netizen from giving the benefit of the doubt to exchanges.

Cryptocurrency enthusiast FatMan took to Twitter to put forward the notion that there needs to be more transparency around trading details on user account while responding to Patrick Hillmann, Chief Strategy Officer of Binance.

In his tweet, FatMan says that he believes Binance will not, straight up, steal customer balances. However, he feels, “there needs to be more transparency around this facet of the business.”

FatMan creates such an opinion while responding to a tweet from Patrick Hillmann, Chief Strategy Officer of Binance:

In Hillmann’s tweet, he says, “Unlike other exchanges Binance does not, nor ever has, hunted user stops or liquidation prices.” He assures the public that any trades made are primarily algorithmic for market stability purposes or to reduce slippage.

Hillmann states that the huge difference between true market makers and Alameda Research is, “User protection [that] has always and still remains our [Binance’s] top priority and we [Binance] will never aggressively trade against users to their detriment.”

FatMan reacts to Hillmann’s tweet by saying that a good first step would be publishing details on the internal accounts, about what they trade, how much, what is their profit, etc.

While the crypto enthusiast amicably shares the fact that he understands the profit making nature of crypto exchanges, however, he believes that requesting transparency around the user’s accounts is very reasonable.

The crypto lover quotes in his tweet, “We trade against you, but not aggressively” and, “we try to make profit, but not too much profit” is true for crypto exchanges. He says that, however, after the FTX fiasco, it is hard to give exchanges the benefit of the doubt as he asserts his take on transparency in trading details for user’s account.

To add on, FatMan offers specifics about the information preferred. He says, “Just general audited information such as pairs traded, periodic volume & profit” implying this would be enough to get an idea of how much their internal desk affects the market.”

He observes that sharing specific trades or strategies is probably not the necessary first step. However, he is of the opinion that complete opaqueness is worse than both.

What Is Decentralized Application (dApps)? Everything You Need To Know

In technology, we need revolutionary change, not incremental change.

Larry Page

What is Decentralized Application (dApps)?

An open source software application that is distributed on a peer-to-peer (P2P) blockchain network rather than on a single computer is called decentralized application or dApp. The decentralized apps are smart contract-powered versions of apps popularized by and built on the Ethereum network

According to blockchain pioneer David Johnston’s book “The General Theory of Decentralized Applications, Dapps”, for an application to be considered a dApp it must meet the following criteria: 

  1. The application must be completely open-source, it must operate autonomously, and with no entity controlling the majority of its tokens. The application may adapt its protocol in response to proposed improvements and market feedback but all changes must be decided by consensus of its users. 
  2. The application must use a cryptographic token (bitcoin or a token native to its system) which is necessary for access to the application and any contribution of value from (miners/farmers) should be rewarded in the application’s tokens. 
  3. The application must generate tokens according to a standard cryptographic algorithm acting as a proof of the value nodes are contributing to the application.  

How are Decentralized Applications different from software applications? 

A software application — also called an application program — is designed to handle specific tasks for users. Such software directs the computer to execute commands given by the user and may be said to include any program that processes data for a user. Some examples include payroll apps, spreadsheets, or word processors. 

Similarly, dApps use the same front-end code that is supported on a website or mobile device for a user. However, a dApp’s back-end code is different and will provide much more in terms of a feature set. Once a developer has released the dApps codebase, others can build on top of it without the control of a single authority as it runs on a decentralized P2P network. A dApp supports a variety of industry applications, including those for self-executing financial contracts, multi-user gaming, and social media platforms. 

Scope of DApps

Dapps represent a new way of managing personal finance. If you think about traditional finance, often financial tasks such as money lending, borrowing, and savings are all powered by a central authority such as banks or other financial institutions. 

However, how would financial tasks work in a decentralized world? Especially where many consider cryptocurrencies and the blockchain to be the future of finance? 

Dapps enable financial tasks to be performed in a decentralized environment. These dApps are supported by a blockchain-distributed ledger and run on a decentralized network. The dApp is used by the user to process data across remote networks and carry out financial operations.

DApps are used to 

  • Facilitate secure, blockchain-based voting and governance. 
  • Function as plugins integrated to web browsers that serve ads, track user behavior, and solicit crypto donations. 

Some industries that employ dApps are

  • Financial services 
  • Supply chain management 
  • Identity verification 
  • Real estate 
  • Healthcare 
  • Education 
  • Social media 
  • and Predictive markets

Advantages and Disadvantages of dApps


  • They have zero downtime, are always accessible to serve clients, and do not have a single point of failure for malicious actors to launch denial-of-service attacks. 
  • DApps safeguard user privacy as there is no need to provide real-world identity. It uses smart-contracts to complete transactions between two anonymous parties without the need to rely on a central authority. 
  • It is resistant to censorship because no single entity on the blockchain can delete messages, prevent transactions, deploy dApps, or read data. 
  • DApps created on Ethereum, a flexible platform, provides developers with the infrastructure to find innovative uses for digital applications in a variety of industries. 
  • They offer complete data integrity as hackers cannot forge transactions or other data that has already been made public on the blockchain. 


  • They are difficult to maintain as the already published code and data are harder to modify. Even if bugs or security issues are identified in the once deployed versions, it’s hard for developers to make updates. 
  • Effective scaling is challenging due to performance overhead. Nodes run and store every transaction to get the level of security, integrity, transparency, and reliability.
  • It is difficult for an average end-user to set up a tool stack necessary to securely interact with the blockchain. This will in turn be harder to engineer user-friendly experiences. Since dApps are fairly new, users aren’t seeing the support they need. 
  • A lack of central authority will also mean slower updates and platform changes. Even for a minor bug fix, dApps will need a consensus of the acting government. This could take up to weeks or months while users debate the pros and cons of the fix. 
  • Currently, dApps are not for those who aren’t tech savvy. It’s not a download away, users need dApp supported browsers, send the required crypto to that wallet and interact from there. 


This US-based decentralized protocol was launched in November 2018 and enables users to swap and trade ERC-20 tokens. With more than 150k monthly users and $2.5 billion daily trading volume on average, it is at present one of the largest crypto exchanges on the internet. 


Even though it uses Uniswap’s source code which is built on Ethereum blockchain, Pancake Swap is an Automated Market Maker which is part of Binance Smart Chain (BSC) network. On it you can trade BEP-20 tokens. It allows users to swap, stake, farm, and participate in contests, lottery, and offers many more such features. 


This is an open-sourced liquidity protocol, providing complete transparency to the users. The users can lend, borrow, stake, and earn interest on digital asset deposits on this decentralized platform. The highlight of Aave is to carry out flash loans within a few seconds, participate in policy-making, and vote on important decisions using the native token. 


The first NFT marketplace to gain mainstream attention, OpenSea was launched in December 2017. Initially developed on the Ethereum network, it was later integrated on the Polygon blockchain to minimize the transaction costs. Hosting more than 10K different NFT projects, it features some of the biggest brands in the NFT industry like Bored Ape Yacht Club, Crypto Punks, The Meebits, and more. 


This NFT marketplace is developed on the Ethereum blockchain and can yet trade NFTs on multiple chains. It allows users to trade, mint, and list NFTs. Rarible includes various NFT genres such as photography, music, 3D illustrations, etc. The native token RARI enables participation in governing the platform and vote on future decisions. 

The Future of Decentralized Applications or dApps

Decentralization comes with distributing control or authority. It implies the distribution of authority or control over something, including a piece of information or any system of an organization. With decentralization this distribution is achieved without relying on a controlling authority, such as a centralized server, a central computer, big corporations or a government. 

DApps hold an immense level of potential to drastically change the way we work, communicate, commute and more. This also means it has the power to change the web, contributing towards the battle against internet censorship while providing increased trust in the system. DApps can work to reshape the business landscape through decentralization and make use of a peer-to-peer system. 

Involved in our day-to-day living, reducing costs and eliminating third parties from many of our personal and business transactions, these applications are expected to take automations and transaction security to the next level. Many enthusiasts in the field are expecting a steady growth and popularity of decentralized applications. 

Kleros Founder Federico Ast reassures that criticism of blockchain technology is only natural. He adds that any criticism about dApps is only temporary, and he is optimistic about dApps’ future. 

New technologies are usually received with skepticism. It’s easy to dismiss a new technology when you compare its very first iteration with the established versions of previous technologies.

Dapps offer so many benefits that some consider them to be the internet’s future. These benefits include distributed storage for increased security and redundancy, distributed computation for increased scalability and efficiency, and more.  

However, dApps are currently at the state of infancy and waiting to be evolved. Once it has reached its peak, how this power will be leveraged and what will happen is something only time can tell. Some even think that with the number of advantages that decentralized apps have to offer, they will most likely replace some centralized apps in the coming future. 

Analyst Discloses Intricate Information About Do Kwon’s Arrest

  • Popular Twitter personality discloses detailed information about Kwon’s and Chang-Joon’s arrest.
  • Montenegro officials discover that Do Kwon had entered as an illegal immigrant.
  • Authorities confiscate electronic gadgets and two passports; Belgium and Korean from Kwon. 

Twitter personality FatMan tweeted about a report from Bloomberg that covered the recent updates on the arrest made by Montenegro authorities of crypto fugitives Do Kwon and Han Chang-Joon, CFO of Terraform Labs.

In his tweet, FatMan offers three major highlights of the report. FatMan states that reportedly Do Kwon was being held in medical quarantine for COVID for an additional five days, that the Montenegro officials have gone through his phones and had found “very interesting,” information, and that Do Kwon had entered as an illegal immigrant, without an entry record.

According to the report, the authorities seized three laptops and five mobile phones along with a forged Belgium passport and a South Korean passport in another name. Rade Vojvodic, Head of Montenegro Correctional Facilities stated:

Do Kwon is being held in standard medical quarantine in Montenegro and will remain there to rule out coronavirus infection through April 3. He can be visited only by his lawyer or doctor.

Do Kwon and Han Chang-Joon were arrested on Thursday by Montenegro police at Montenegro’s Podgorica airport, while they were trying to fly to Dubai using falsified travel documents. They were detained to formally assess their identity.

The Montenegro Interior Minister Filip Adzic who had information that the two people could be in the country, said that they came into the country illegally as they were found to not be registered upon entry anywhere in Montenegro. He added, “Do Kwon and his companion acted especially surprised and they told our officials that elsewhere in the world they have been used to VIP treatment.”

Ever since the South Korean authorities issued a warrant for Do Kwon’s arrest, his whereabouts were the source of constant speculation. Subsequently, South Korean officials were looking for Kwon in Serbia. Additionally, the Minister said that they were found to have spent some time before then [the arrest] in an unspecified neighboring country.

Both the US Federal Prosecutors and South Korea have said they intend to seek Kwon’s extradition, however, Montenegro authorities say that they have not yet received any formal extradition request yet.

Bitget Partners with Space and Time to Offer Financial Transparency

  • Derivatives Trading Platform Bitget has announced its partnership with data warehouse Space and Time.
  • Bitget is the first centralized exchange to leverage a decentralized data warehouse.
  • Moreover, Bitget has launched its Proof-of-Reserves (POR) page to show that it is a full-reserve exchange.

Early today, crypto copy trading platform Bitget announced its strategic partnership with Space and Time (SxT), a decentralized data warehouse. The two firms believe this collaboration will help Bitget offer unparalleled transparency of exchange operations with a verifiably tamperproof audit trail of data and computation to its users.

Managing Director of Bitget Gracy Chen states, “Bitget strives to be the all-in-one global trading platform, and our partnership with Space and Time highlights our commitment to that.”

According to the Bitget team, it is the first centralized exchange to leverage a decentralized data warehouse. The trustless Space and Time platform, the team says, will offer Bitget’s users verifiable evidence that the exchange holds the assets it claims to own on behalf of its clients.

Bitget users will be able to experience complete transparency about the exchange’s activity, liquidity, assets, and liabilities with the assurance that the data and computation powering the exchange are accurate and haven’t been tampered with.

Moreover, Bitget has launched its Proof-of-Reserves (POR) page to show that it is a full-reserve exchange. Bitget’s Proof of Reserves, which uses the cryptographic-audited Merkle tree method, will also validate that users’ assets stored on the platform are safeguarded.

To support further transparency, the exchange will work with Space and Time, which allows Bitget to provide proof of accounting and assure its users that all exchange operations are both valid and verifiable. Chen adds:

Bitget is first to work toward transparency of proof of accounting and operations through Space and Time. We aim to inspire people to embrace crypto with more protection, transparency and security, which serve as pillars for building a robust platform.

Space and Time is the first decentralized data warehouse that joins tamper-proof on-chain and off-chain data. Expressing his excitement about the partnership, Nate Holiday, CEO and Co-Founder of Space and Time, says:

We’re thrilled to work with Bitget to provide market-leading proofs for accounting and verifiability of operations. This partnership marks a new era of transparency for centralized businesses.

As per data of March 6, 2023, the total reserve ratio is 231%, meaning that Bitget holds more than 100% of the user’s total assets as BTC, ETH, USDT, and USDC. Bitget assures that the transparency enabled by Space and Time will help Bitget strengthen the trust it has built with its growing user base.

20-Yr-Old Cryptocurrency Investor Scams $29M; Tortured For Ransom

  • A 20-year-old Ontario cryptocurrency investor Aiden Pleterski was kidnapped and held for ransom.
  • Pleterski was accused of defrauding investors out of $29 million, out of which he only invested two percent.
  • The Twitter community had strong reactions to the incident.

In an alarming news, a 20-year-old cryptocurrency investor who was allegedly defrauding investors out of $29 million was kidnapped, tortured, and held hostage for a ransom.

An online crypto news portal took to Twitter to state that his family members had to pay a hefty sum of money, only after which he was let go. Furthermore, the portal tweeted that the young investor had claimed he promised his alleged victims high returns on investments but instead chose to use his investors’ money to fund his own lavish lifestyle.

Interestingly, no source was cited nor was details given about this 20-year-old. Responding to this there were multiple tweets from…

The post 20-Yr-Old Cryptocurrency Investor Scams $29M; Tortured For Ransom appeared first on Coin Edition.

SEC Sues Influencer Jake Paul for Illegally Touting TRX and BTT

  • SEC sues YouTube personality Jake Paul for illegally touting cryptocurrencies.
  • Jake Paul paid-promoted TRX and/or BTT, Tron Founder Justin Sun’s crypto without disclosing the information to the public.
  • Justin Sun has been sued by the SEC for potential fraud and market manipulation.

Following a lawsuit against the Tron founder, Justin Sun, the Securities and Exchange Commission (SEC) has its focus on celebrities connected to the crypto company. YouTube personality Jake Paul has joined the list for “illegally touting” cryptocurrencies.

According to a report, Jake Paul is being sued by the SEC for promotion of cryptocurrencies, “TRX and/or BTT” which are both connected to Tron founder Justin Sun. Subsequently, Paul was alleged of partaking in paid promotion of the assets without disclosing those payments to the public.

According to the SEC, Paul had “illegally touted,” the cryptocurrencies, “TRX and or BTT” while refraining from sharing that he was paid for his endorsement. Additionally, the SEC has a list of several celebrities that they have connected with the lawsuit of Sun cryptocurrencies and Paul’s name is the latest addition to it.

Furthermore, the US regulatory lawsuit against Tron Founder Justin Sun is for potential fraud and market manipulation. The SEC calls Sun’s orchestration of the unregistered offer and sale as manipulative trading and unlawful touting of crypto asset securities.

To note, SEC accuses Sun of being, “engaged in a scheme to distribute billions of TRX and BTT to the public while also creating active secondary markets on which TRX and BTT could be traded.”

Youtuber Coffeezilla responded positively in a tweet to SEC’s actions. His tweets says:

Good. Influencer scams will stop when it starts hurting their wallets.

Crypto Twitter was seen responding with mixed reactions. Some are in favor of the SEC’s current action while still being worried about the future of the crypto if the SEC keeps being rampant in the coming days.

Crypto Journalist Discusses: “Who Will Win? Ripple Vs SEC”

  • Crypto journalist Eleanor Terrett publishes an article on SEC vs. Ripple Case.
  • Terrett observes that the verdict may come at a pivotal time for the crypto industry.
  • “Ripple will not back off, but will the SEC take the win?” asks Terrett in her latest op-ed.

Crypto journalist Eleanor Terrett tweeted about her new feature piece titled, “SEC vs Ripple: verdict could come at a pivotal time for the crypto industry.” The featured article discussed the unphased spirit of Ripple, the currency exchange firm in its battle with the US Securities and Exchange Commission (SEC), and what the outcome will mean to the crypto industry.

According to the Fox Business article, Terrett pointed out the tactical placement of Ripple’s sponsored billboard in the Union Station Washington DC, which carried the message “Crypto Means Business.” This large billboard is placed on the route of commuting securities lawyers who take their way to the US SEC headquarters.

As the SEC has been embroiled in a lawsuit with Ripple for nearly two years, Terrett observed:

The ad in Union Station is not just a way for the company to tout its product — it’s also a clear message from Ripple to the SEC that it’s not backing down.

The outcome of the case could decide the scope of crypto enforcement proposed by SEC Chairman Gary Gensler and whether the SEC’s test for classifying securities should be applied to digital assets.

As per the report, In 2020 the SEC pressed charges against Ripple and its executives, claiming that they had breached securities laws by utilizing the digital token XRP to finance their business. The SEC asserted that XRP ought to have been registered as a security, while Ripple argued that XRP is not a security and that the sales were fully legitimate.

As for Gensler, the reports suggested that the SEC chairman had agendas of his own. All of which the “Crypto business had been left in a regulatory void.” Terrett in her article anticipates that the “legal quandary will soon draw to a close.” A key ruling by the federal district judge from Manhattan, Analisa Torres, on summary judgment could be made in the coming days.

Terrett ends her piece observing that the ruling could either give Ripple or the SEC a victory. She adds, “As many factors like the unsurety of judge’s favor, the May implosion of the blockchain platform Terra, the November collapse of the FTX crypto exchange which led to the indictment of its founder Sam Bankman-Fried on fraud charges,the collapse of the two largest crypto-friendly banks, Silvergate and Signature, could also have an impact on the final outcome.”

How the Fall of Swiss Pride For 166 Years Affects Crypto Assets

  • Scandal and mistrust brought the fall of 166 years of Credit Suisse.
  • Banking mishaps like SVB and Credit Suisse are causing panic among investors.
  • Meanwhile, Bitcoin and Ethereum reach highs of this year.

“Credit Suisse is no more,” reports Bloomberg on Twitter, explaining the downfall of the bank that faced decades of scandals, legal issues, and management upheavals.

“Credit Suisse stock has tumbled more than 95% from its pre-financial crisis peak,” tweets Bloomberg page quoting that the firm was valued at a mere 7.4 billion Swiss francs ($8 billion) at the close on Friday.

Credit Suisse Group AG was a global investment bank and financial services firm founded and based in Switzerland, becoming an emblem of Swiss pride for 166 years. However, recently the bank suffered a revolving door of senior management which came with leadership changes that put pressure on performance.

The risky business of the bank began with “the burning bed” incident of 1990. According to the report, “Then CEO of Credit Suisse Rainer Gut influenced the bank’s US partner, First Boston, for a modest capital injection to backstop bad loans.” Subsequently, Boston had yielded the lucrative debt markets of the 1980s and loaned billions to fund buyout transactions. However,  the industry imploded, which left the bank in ruins.

Afterward, the successor, Lukas Muehlemann, bought Winterthur Insurance in 1997, then acquired Donaldson, Lufkin & Jenrette in 2000. “This turned out to be an expensive misstep,” comments Bloomberg. Later, in January 2019, a feud between the CEO Tidjane Thiam and Iqbal Khan “became a lurid corporate scandal,” reports Bloomberg, which shattered the Swiss bank’s reputation.

The bank, infamous for its discretion and broadcasting a culture where personal vanities outweighed ethical and legal boundaries, was under investigation in the wake of the Thiam-Khan episode. The banking regulator uncovered five additional cases of surveillance from 2016-2019.

Later in 2021, the bank suffered a $5.5 billion loss when its biggest client Bill Hwang’s hedge fund Archegos Capital Management imploded. Finally, the new leadership duo of Chairman Axel Lehmann and CEO Ulrich Koerner had pitched a return to Credit Suisse’s Swiss roots as the best way forward but could not deliver in time.

Although fractional reserve banking systems such as SVB and Credit Suisse are facing a crisis, it is giving a boost to crypto prices. According to Coinmarketcap, Bitcoin is seen at a nine-month high at present, as panicking investors are moving towards “safe havens” like cryptocurrencies.

Bitcoin has reached its highest jump this year at $28,474, a 26% jump since last week, showing a growth of 35% in just ten days. Furthermore, Ethereum, the second-biggest cryptocurrency, is seen to have a seven-month high of $1,846.50.

Evertas’ Ryan Lackey Makes Feature Requests To Armstrong

  • CSO Evertas Insurance Ryan Lackey made feature requests to Coinbase CEO Brian Armstrong in a tweet.
  • Armstrong consents to Lackey’s request to make Coinbase a high-net-worth business neo bank.
  • Lackey suggests that Coinbase start alpha testing for other crypto industry firms. 

Chief Security Officer at Evertas Insurance Ryan Lackey took to Twitter to offer Co-Founder Brian Armstrong of crypto exchange Coinbase a few useful suggestions regarding the insurance features they can offer to the crypto audience.

In the light of the abrupt implosion of Silicon Valley Bank (SVB), the second largest U.S. bank failure, Ryan Lackey was seen making feature suggestions with Brian Armstrong, CEO of Coinbase.

Lackey asks, “Why don’t you set up Coinbase as some kind of HNW [High Net Worth] business neobank, which has a pass through assets to community banks and treasuries as a first-class option in parallel with crypto?” 

To this Armstrong replies, “Definitely something we’ve thought about.” Armstrong adds that more features like outbound wires, multi-user support, etc., are all needed,” and suggests that non-fractional reserve banking is definitely something he wants to look further into now. Armstrong further asks Lackey, “What are the key features you’d want?”

Lackey goes on to explain a few features he would like to see from the Coinbase team, such as better-than-bank customer service. To add more insight, he says, “A key thing would be *better* than bank customer service, even when things are going crazy (something similar to how you handle Prime today/etc., not retail). Possibly even retail branches in SF/NY/etc. for exceptions (like FRC in footprint, not BOA).”

Lackey adds that Coinbase should maybe start with alpha testing the service for other crypto industry firms, or some other technically-sophisticated vertical. “Maybe in a specific geography, too?” asks Lackey. Furthermore, he puts forward ideas like in/out ACH and wires with tracking, multi-user with separate initiators/approvers, and some way to link to payroll.

The CSO says that people already in crypto know, trust, and love Coinbase, so that’s a natural market. However, Lackey says that it will also make sense to pick some vertical at the start which is super safe and positive PR for either charity or non-profit with easy banking needs.

In Lackey’s opinion Mercury is a most valuable player that has been able to do what Brex does in the long-term like invoicing in crypto or fiat, expense management, payment cards, etc., would be better. He suggests that the tricky part would be capital gains accounting if crypto is treated other than stablecoins, but he asserts that solving that problem will result in massive crypto adoption.

In the thread, a fellow Twitter user, Fred Ostiabs, is also seen contributing to the discussion by adding a feature request, “Automate all the tax reporting as a feature for accounts holding X amount in account.”