Bitcoin Is The Answer: Paypal Bans Cybersecurity News Outlet 926

To many, Bitcoin is a censorship-resistant, decentralized, immutable, and borderless transactional tool that transcends centralized boundaries. But for many Westerners, these inherent features aren’t something that’s all too useful in day-to-day life. However, with the rise of Internet censorship and anti-“radical” narratives, some believe that the need for decentralized mediums of value and information cannot come fast enough.

Related Reading: Bitcoin Acceptance: The Changing Face of Mainstream Media CoveragePaypal Purges The Hacker News’ Accounts

On Saturday morning, reports arose that The Hacker News (THN), a trusted, world-renowned outlet for cybersecurity news, had all of its Paypal accounts shut down. THN took to its Twitter feed, which sports 514,000 followers, to convey the news.

That's so much frustrating.@PayPal has permanently banned all of our accounts without mentioning any reason and hold wallet funds wrongly for 180 days.

Upon asking, @AskPayPal also refused to share any details.

— The Hacker News (@TheHackersNews) December 29, 2018

The outlet claimed that Paypal, permanently banned its Paypal accounts without mentioning a specific rationale. Paypal even purportedly rubbed salt on THN’s wound, so to speak, claiming that it would be holding wallet funds for 180 days, failing to cite a reason yet again. After some back and forth, the financial services company explained that “specific reasons for such a decision is proprietary & it is not released,” skirting THN’s inquiry for the third time.

Bitcoin Is The Answer

As this news broke, spreading across the Twitter landscape like wildfire, the cryptosphere immediately took to THN’s side, claiming that the bans were non-sensical and censorship at its worst. Simultaneously, a number of leading Bitcoiners took some time to double-down on their aversion to the centralized establishment. Matt Odell, a Bitcoin proponent and cryptographer, claimed that when there’s nowhere left to turn, BTC is always there.

When there is no other option, there is bitcoin. https://t.co/YmJ7lJ8Dz1

— Matt Odell (@matt_odell) December 29, 2018

Marty Bent, a crypto-centric media creator, explained that payment processors have begun to lose their minds, likely referencing the increase in digital censorship. Bent added that it’s time to “level up” by the way of Bitcoin, which will leave the “power drunk companies” in the dust.

It seems as though the payment processors are losing their minds. Time to level up with Bitcoin and leave these power drunk companies behind. https://t.co/5hhPvrFdNw

— Marty Bent (@MartyBent) December 29, 2018

Other prominent industry commentators and crypto-friendly startups have also come out to laud Bitcoin. NVK, a pseudonymous decentralist, claimed that using, buying, and spreading the good name of Bitcoin, as it were, will lead to victory (presumably over the centralized powers that be). Rui Gomes, a developer at Tim Draper-backed OpenNode, claimed that case of seeming censorship only accentuates Bitcoin’s underlying value proposition.

This recent development comes just days after Patreon, a platform that allows consumers to give back to creators, banned Jordan Peterson, a psychology professor and prominent political commentator, for pushing ideas that purportedly weren’t in step with Patreon’s terms of service. Both of these bans, whether issued in malintent or otherwise, only underscore the fact that cryptocurrencies have value. But, the public at large hasn’t acknowledged this fact just yet, as they remain trapped in traditional systems, failing to comprehend the power of decentralization.

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Secure, Compliant but Flexible: FinchTrade Elevates Crypto Custody Offering with Fireblocks 8452

FinchTrade, a Swiss liquidity provider in the cryptocurrency sector, is proud to announce its integration with Fireblocks, an enterprise platform to manage digital asset operations and build innovative businesses on the blockchain. This strategic collaboration is set to enhance FinchTrade’s service offering, aligning with industry regulations and expanding its capabilities in asset custody.

The collaboration with Fireblocks introduces several key enhancements to FinchTrade’s operational framework:

  1. Regulatory Compliance: Fireblocks’ institutional-grade technology enables FinchTrade to generate unique blockchain addresses for each client, a critical feature for Travel Rule compliance, which mandates the collection and sharing of transactional information for AML purposes.
  2. Direct Custody Advantage: Fireblocks delivers a specific implementation of self-custody, providing a zero counterparty risk environment with multiple layers of security, meaning funds are never stored in an omnibus account or commingled with any other client funds, therefore eliminating the risks associated with traditional financial custodians. This approach elevates the security of client assets under FinchTrade’s management.
  3. Expanded Product Offerings: With Fireblocks, FinchTrade now offers individual client wallets, expanding its services to include crypto asset custody. This enhancement allows clients to store assets, execute conversions between cryptocurrencies and fiat, and make payments — all from within their FinchTrade account, without the need for external third-party services.
  4. Network Integration: By joining the Fireblocks Network, FinchTrade gains direct connectivity to a global network of over 1,800 trusted financial institutions, liquidity partners, trading venues and counterparties for secure transfers and payments.

“Collaborating with Fireblocks is a game-changer. It fortifies our commitment to IT security and enables offering a diversified service portfolio,” said Yuri Berg, Board Member of FinchTrade.

“We’re pleased to be working with FinchTrade to offer greater connectivity and security for their trading platform tailored to their clients’ needs. This collaboration highlights our mutual dedication to industry-leading security and operational efficiency, and we look forward to our continued efforts to advance the digital assets space together,” said Stephen Richardson, Managing Director, Financial Markets at Fireblocks.

The integration with Fireblocks positions FinchTrade at the forefront of digital asset security and compliance, ensuring that the company remains a trusted partner in the evolving world of cryptocurrency trading.

About FinchTrade:

FinchTrade is a Swiss-based liquidity provider specialising in cryptocurrency trading solutions. With a commitment to security, compliance, and innovation, FinchTrade offers seamless liquidity services to a global clientele.

STYLE Protocol Building to Empower Gamers Closes $2.5M Seed and Lists Token on Major Exchanges 8579

STYLE Protocol, which transforms NFTs into 3D assets that can be used in any game or metaverse, has listed its native utility token on major exchanges.

The cutting-edge digital asset — $STYLE — made its debut on Bitget and MEXC, and is also available on the decentralized exchange Uniswap.

Holding this token unlocks access to the protocol’s exclusive products, and makes in-game assets including objects and weapons truly interoperable in other titles.

Imagine collecting a rare skin in Sandbox, and being able to use it in any other virtual environment. Imagine being able to transform your favorite NFT into a living, breathing character. Imagine being able to type in a prompt for an avatar you want to create, with AI designing it for you in seconds. We’re making all of this possible on our world-leading platform — and the $STYLE token means you can get involved.

STYLE Protocol’s meticulously designed infrastructure means non-fungible tokens can become truly multi-world assets that are bridged across blockchains. Other powerful applications are available, including the ability to multiply blue-chip collectibles across virtual worlds. For example, this could allow a Bored Ape owner to rent their NFT out as an in-game avatar — and unlock brand-new revenue streams in the process.

The listing of $STYLE is only the beginning, with even more exhilarating features set to be added to the protocol in the not-too-distant future. Key objectives include rolling out compatibility for further games and Web3 environments, and continuing to tear down the silos that exist between operating systems and games.

All of this comes hot on the heels of STYLE Protocol raising $2.5 million in seed funding to further its mission. An all-star cast of prominent investors took part — including Morningstar Ventures, Dutch Crypto Investors, GBV Capital, Protocol Labs and Alpha Ventures — a powerful illustration of the potential and excitement surrounding this new ecosystem.

Making VR adoption a reality

STYLE Protocol is ready to level up the world of gaming like never before, and allow players to achieve the impossible.

The platform builds on Polkadot, which creates a “blockchain of blockchains” that champions interoperability — just like STYLE Protocol. Being based on this network means the project can capture interest across a plethora of EVM-compatible chains — Ethereum, Binance Smart Chain, Polygon and Avalanche among them. And as Web3 continues to go from strength to strength, $STYLE is the only token in town that delivers the future of GameFi: a unified world where digital assets are no longer fragmented.

Avid gamers have already been transporting their Azukis into GTA V for heart-pumping stunt races and strategic heists — breathing new life into the game. And STYLE Protocol believes that its technology will spark renewed interest in beloved titles by providing a degree of personalization that wasn’t possible before.

STYLE Protocol founder Leo Hilse said: “When it comes to virtual reality and the metaverse, we’re so early. Expensive VR headsets are only available to a few right now, but they’re on the cusp of becoming mainstream. STYLE Protocol is tackling a key barrier to adoption before it becomes an issue: making sure that any in-game item or NFT can travel between virtual worlds, just like a player sitting in their living room would. It takes hours of skill or a significant amount of cash for a gamer to earn rare items, and we want to ensure they get value for money by being able to take it with them wherever they go.”

About STYLE Protocol

STYLE aims to help gamers transcend identity across the multiverse — meaning NFTs and other virtual assets can be used in any game, anywhere. The protocol’s focus on interoperability is designed to enhance adoption, tear down barriers to entry, and deliver a world-class experience for players. Follow STYLE Protocol on X, Discord, Telegram and LinkedIn, or visit the website: https://www.protocol.style/

The gaming ecosystem giant E-PAL declares official entry in the Web3 gaming world 8695

E-PAL, the top gaming ecosystem platform in the world, has officially announced its entry into Web3 gaming. Headquartered in LA, California, E-PAL is the leading social network where gamers pay for skills and interest-related matching with skilled E-Pals.

With the aim to transform the Web3 gaming framework, E-PAL brings numerous innovations, such as an all-inclusive gaming ecosystem podium and a gaming chain. Being one of the most innovative gaming platforms, E-PAL will combine the customized AI gaming elements, which offers a smarter and more convenient gaming experience to the users.

Founded in 2020, E-PAL has experienced significant growth in the gaming industry with five million users downloading the E-PAL app. Such a huge number of downloads reflects E-PAL’s increasing user base, growing market penetration and widening reach among gamers. It has turned out to be the world’s foremost game companion platform in only four years, winning more than 2.4 million users, 300,000 companions and associating with 200 leading games.

Plus, E-PAL’s search for capable partners in the marketplace reflects its smart moves to widen its operational base and strongly boost its market share. The gaming platform’s aim to build partnerships is a proactive step to grow its business and presence in the Web3 gaming marketplace.

E-PAL has acquired two funding rounds led by Galaxy and A16Z with extra investors, including the director of League of Legends and the founders of Riot Games and YouTube. As per the latest reports, E-PAL will introduce the gaming platform Balance.game in May 2024, along with their entrance in the Web3 gaming world and releasing their platform’s 1.0 version, starting the new age of Web3 gaming.

Twitter: https://twitter.com/Balance_Games

Yuga Labs Partners With Somnia to Increase Metaverse Interoperability and Incentives 10260

Somnia, a high performance L1 blockchain and set of omni-chain protocols designed to scale the metaverse, partners with Yuga Labs, the creators of iconic Web3 projects like Bored Ape Yacht Club (BAYC) and the Otherside.

Somnia’s blockchain is optimized for gaming and the metaverse, with the potential to handle hundreds of millions of transactions per second, and its omni-chain protocols are designed to connect the metaverse, NFTs, and gaming ecosystems.

Yuga Labs is a media company best known as the creator of the Bored Ape Yacht Club NFTs and the owner of CryptoPunks. Yuga Labs was founded in 2021, when the Bored Ape Yacht Club was launched. Across all of its collections, Yuga Labs has generated roughly $19 billion in volume, accounting for a large portion of the NFT market.

With this partnership, The Somnia Protocol will unlock a new world of possibilities in Yuga Labs’ Otherside, bringing interoperability and new utility to their collections. Holders of Yuga collections will be able to join metaversal events with their avatars, show off their NFT collections and earn bonus points in Somnia quests.

Holders of select Yuga Labs NFTs will also get a bonus on points earned in Somnia’s upcoming Metaverse Browser quests, with other features and benefits to be announced.

The Metaverse Browser is designed to be a consumer front end to the metaverse. It will serve as a decentralized Steam or Epic Game Store. It lets users interact with metaverses and apps on the Somnia’s Ecosystem, without needing to know anything about web3. It’s designed to be open to allow anyone to deploy apps and content with it.

“Our collaboration with Yuga Labs is all about enhancing the NFT ecosystem, offering their holders not just utility, but a gateway to immersive, interactive experiences that push the boundaries of what NFTs can do” Somnia founder Paul Thomas said.

Yuga holders will be able to use their avatar in any world or experience that is built on Somnia. Their identities and digital assets will also be compatible across a wide range of experiences. They’ll be able to attend massive events, like the Twice listening party and MLB Virtual Ballpark that were hosted by MSquared.

About Somnia:

Somnia is creating a virtual society with an L1 blockchain and a set of omnichain protocols designed to bring millions of users into an open and unified metaverse, allowing users to move seamlessly across experiences. Somnia opens up endless possibilities for builders to create content that is portable and remixable content by upgrading existing NFTs.

For more information, please visit Somnia.Network

Polkadot-native Acala expands to multichain horizons through the Sinai Upgrade 10348

Acala, a foundational platform within the Polkadot ecosystem, unveils the Sinai Upgrade, a significant advancement in its Acala 2.0 initiative aimed at broadening the horizons of the overall crypto financial landscape. This upgrade is set to enhance the platform’s multichain capabilities, setting a new standard for decentralized finance (DeFi) not only on Polkadot, but across any layer 1, 2 or 3 blockchain network.

Multichain integration and enhanced DeFi accessibility

The cornerstone of the Sinai Upgrade is its focus on multichain integration, which facilitates seamless interactions across diverse blockchain environments. Acala dramatically simplifies the user multichain experience through the introduction of their advanced one-click multi-chain cross-stack DeFi feature. This feature leverages pioneering technologies, including XCM (Cross-Consensus Messaging) and Wormhole, to enable straightforward, efficient cross-chain transactions. Users will be able to easily engage in activities like staking, liquidity provisioning, and lending across major blockchain platforms such as Polkadot, Ethereum, Solana, and any select blockchain networks.

Empowering communities through open governance

Further enhancing its ecosystem, Acala introduces the open governance upgrade, empowering its community with direct involvement in governance decisions. This democratizes the process of ecosystem evolution, allowing users to influence treasury management, DEX listings, and more, fostering a transparent and inclusive community environment.

Security and performance at the forefront

The Sinai Upgrade also addresses the critical need for security in the expanding multichain landscape. The launch of Sentinel, along with asynchronous backing, bolsters security and increases transaction throughput, ensuring that Acala remains at the cutting edge of blockchain performance.

Strengthening the aSEED pathway

Accompanying these technical advances, the Sinai Upgrade finalizes the aSEED pathway, facilitating a stable and equitable process for converting and redeeming aSEED tokens. This includes establishing clear redemption criteria, which promises a fair and transparent framework for remaining aSEED holders, reflecting Acala’s commitment to maintaining trust and stability within its community.

Quote from Bryan Chen, Chief Technical Officer at Acala

“The Sinai Upgrade is a testament to Acala’s dedication to enhancing the DeFi ecosystem through robust multichain solutions,” said Bryan Chen. “As a Polkadot-native platform, we are uniquely positioned to lead the charge towards a more interconnected and efficient blockchain universe.”

About Acala

Acala is a premier platform for decentralized finance within the Polkadot network, offering innovative solutions designed to integrate and enhance liquidity across a wide range of blockchain environments. Committed to innovation, security, and community empowerment, Acala leads the way in advancing blockchain technology for global users and institutions.

RWA in Focus: MAS Regulated Digital Asset Custodian, Propine Introduces Support for Fathom Dollar $FXD Stablecoin on XDC Network 10499

MAS-regulated custodian Propine is announcing its support for Fathom Dollar’s FXD, a stablecoin pegged to the US dollar and designed to bridge the $5 trillion trade finance gap. This development positions FXD at the forefront of real-world assets (RWA), leveraging the power of blockchain to enhance global trade finance operations. Propine, licensed by the Monetary Authority of Singapore, is a prominent digital asset custodian serving large institutional clients.

FXD is a stable-price cryptocurrency over-collateralised by the XDC network token and RWA, including trade finance assets. It has emerged as a use case-driven solution amidst growing concerns over the trade finance gap. It has been a significant barrier to global trade, particularly affecting small and medium-sized enterprises (SMEs).

By offering a stable and reliable transaction medium and store of value, FXD aims to facilitate essential functions in a $30 trillion global trade finance market. This includes cross-border transactions, borrowing against receivables, and generally turning trade finance into an alternative investment class for non-banks.

Tuhina, Propine’s Founder and CEO, said, “Propine is dedicated to facilitating swift and secure adoption of digital assets and cryptocurrencies by institutional investors and regulated businesses. To this end, we have adopted compliance and security standards that serve as industry benchmarks. As the industry continues to expand, we see significant potential to further serve as a trusted partner for organizations seeking to enter the space seamlessly and securely.”

Manuel Rensink from Fathom: “Propine offers world-class services, and their battle-tested custody has been our choice. Despite all the shockwaves that enveloped the industry, Propine has been resilient because of its governance and internal controls & systems. They have consistently led innovation in the digital asset custody space and raised the bar. Propine’s support for FXD is a game-changer, providing a seamless ramp on/off service between digital assets and fiat currencies. This service is crucial for enhancing the liquidity and accessibility of FXD, making it an attractive option for businesses and financial institutions engaged in international trade.”

Rensink added, “The integration of Propine’s custody solutions with FXD ensures that users can enjoy the highest security and compliance standards, essential in the highly regulated financial sector. As FXD gains traction, Propine’s role in its custody and management will undoubtedly be a key factor in its success, marking a new era in integrating real-world assets with digital finance solutions.”

About Propine

Propine is a licensed, audited, and insured digital asset custodian headquartered in Singapore. The company is engaged in transforming how digital assets are stored and traded by providing reliable, secure, and scalable solutions to institutional clients. Propine also enables investors to tokenize previously illiquid asset classes such as corporate bonds, real estate, private equity, funds, art, natural resources, and derivatives. The company is geared to support clients in unlocking their potential within a regulatorily compliant and legally robust framework.

To learn more, users can visit Propine.com

About Fathom Protocol

Fathom is a liquidity protocol where users can deposit XDC tokens or RWA collateral and borrow the FXD. This opens up programmatic financing solutions for individuals and businesses that were previously not available. Furthermore, investors and savers can (re)invest their FXD for competitive yields. The Fathom DAO is governed by FTHM token holders who can vote on onboarding new collateral types, interest rates, and more. Fathom is built on the XDC network to be at the center of its Institutional DeFi ecosystem. https://fathom.fi/

About XDC Network

XDC Network is an open-source, carbon-neutral, enterprise-grade, EVM-compatible, Layer 1 blockchain that has been operationally successful since 2019. The network obtains consensus via a specially delegated proof-of-stake (XDPoS) technique that allows for 2-second transaction times, near-zero gas expenses ($0.0001), over 2000 TPS, and interoperability with ISO 20022 financial messaging standards. The XDC Network powers a wide range of novel blockchain use cases, including trade finance, payment, and RWA tokenization, that are secure, scalable, and highly efficient. Website: xinfin.org | xdc.org