Crypto.com Expands into the US Equity Market with Watchdog Acquisition
In a tactical move to expand its presence in the United States, Crypto.com has announced its acquisition of Watchdog Capital LLC. In an official press release, Crypto.com stated: “Crypto.com announced today the acquisition of the SEC registered broker-dealer and member of FINRA and SIPC, Watchdog Capital, LLC.” The acquisition will allow Crypto.com to offer equities and equity options alongside its existing crypto services for eligible US traders. Furthermore, it is also part of an elaborate plan to merge the exchange’s crypto-native offerings and core traditional financial entities. As a registered broker-dealer with the US Securities and Exchange Commission (SEC), Watchdog offers a platform for traditional asset trading for investors in the United States. These assets include stocks and bonds. In an October 31 X Post, Crypto.com CEO Kris Marzalek expressed optimism over the acquisition. Part of his tweet read thus: “This acquisition is a massive step forward in bridging traditional and digital finance in the US market.” Crypto.com New Acquisition Offers Opportunities for American Investors It is worth noting that Crypto.com’s latest acquisition could usher American investors into an era of streamlined crypto and traditional assets trading. Interestingly, the procurement implies it will offer both trading options via a single platform. Consequently, it will allow stock and crypto traders to explore alternative forms of finance seamlessly. While a fixed date for the offerings remained undisclosed, CEO Kris Marzalek’s X post hinted at a possible timeframe. The CEO wrote: “By the end of this year, Crypto.com will offer a full range of services through its family of companies, including crypto derivatives and now stocks.” This acquisition is a massive step forward in bridging traditional and digital finance in the U.S. market. By the end of this year, https://t.co/pFc4Pz9nFR will offer a full range of services through its family of companies, including crypto derivatives and now stocks:… — Kris | Crypto.com (@kris) October 31, 2024 Crypto Space Acquisition Trends Notably, acquisitions are becoming increasingly common in the crypto industry, serving as portals for companies seeking to explore opportunities. For instance, Robinhood acquired Bitstamp earlier this year to expand its European Union presence. Luckily, the deal was successful, resulting in an overall business boost for the parent firm.
Bybit Faces €2.25 Million Fine from Dutch Authorities for Unregistered Crypto Activities
Dubai-based exchange Bybit has received a €2.25 million ($2.4 million) sanction from the Dutch central bank. Per reports, Bybit faulted by dishing unregulated services to Netherland indigenes. The gravity of the offense warranted a much higher penalty fee, but the exchange’s compliance efforts reduced the penalty cost. The regulatory body, however, hinted that the fine was in line with the region’s anti-money laundering structure. The penalty aims to deter other business enterprises from repeating similar acts in the future. Bybit’s Defiant Actions That Warranted The €2.25 million Sanction Bybit was sanctioned following two violations. Firstly, it has been operating without a functional license from a regulatory institution. The firm has been reluctant to register under the DNB registration schedule since October 2020. On the other hand, it is not wrong to assume that the company has been supporting illegal services in this region as they are unlicensed. Hence, the financial intelligence unit has no idea about the transactions on the exchange. Plans To Mitigate Future Occurrences In response to the sanction, Bybit acknowledged its misdoings and stated its readiness to pay the fines. A recent investigation revealed that Bybit collaborated with SATOS B.V. as part of efforts to acquire the DNB virtual Asset Service Provider (VASP) partnership license. The collaboration will qualify them to take transaction orders until permanent paperwork is authorized. Ben Zhou, Co-founder and CEO at Bybit, stated: “Since our partnership with SATOS, we have operated fully within the regulatory framework. Currently, Bybit Powered by Satos is growing into the number two exchange in the market with 10 million users. Bybit Powered by Satos is also working closely with local universities. “ Meanwhile, following the Market in Crypto-Assets Regulation (MiCAR) proposed adoption in the Netherlands, all business and financial firms must obtain a full registration certificate on or before December 30, 2024, or risk the consequences. With these measures, the Netherlands is en route to mitigating fraudulent activities within its vicinity.
All You Need to Know About Yield Guild Games (YGG) Coin
Yield Guild Games (YGG) Coin was launched in 2021 with the goal of building a decentralized gaming guild. Its main focus is to invest in non-fungible tokens (NFTs) and virtual assets that exist in various online games and virtual worlds. The purpose of YGG Coin is to make it easier for users to join the play-to-earn (P2E) gaming economy, where players can earn rewards and income by participating in blockchain-based games. Yield Guild Games operates on a community-driven model, which means that users collectively own and manage the assets the guild invests in. For example, in games like Axie Infinity, YGG buys in-game characters called Axies. These characters are then rented or loaned out to players, who use them to play and earn tokens. The earnings are shared between the players and the guild. This model allows people who may not be able to afford these digital assets on their own to participate in play-to-earn games. YGG also invests in virtual land and other digital assets in games such as The Sandbox and Decentraland. These assets are owned by the guild but used by community members to generate income. This collective approach allows the guild to maximize its reach across many games and platforms, offering users more opportunities to earn rewards. By building a network of gamers, investors, and players who work together to own and use in-game assets, YGG helps its community members get involved in blockchain gaming without the need for large personal investments. This model has proven to be an effective way of making play-to-earn games accessible to a broader audience. Read Also: 10 Best Free Crypto Mining Sites in 2024 Key Takeaways Since its launch, YGG has invested in over 20 major blockchain games, significantly impacting the play-to-earn ecosystem. Technology and Underlying Blockchain Let’s take a closer look at the blockchain infrastructure and consensus mechanism that make Yield Guild Games (YGG) Coin secure and scalable. Consensus Mechanism Yield Guild Games (YGG) Coin operates on the Ethereum blockchain, which is one of the most widely used and secure blockchains in the world. Ethereum recently transitioned from Proof of Work (PoW) to a Proof of Stake (PoS) consensus mechanism, a change that improves efficiency and reduces energy consumption. In the PoS system, validators are chosen to create new blocks and verify transactions based on the number of tokens they hold and are willing to “stake” as collateral. This shift to Proof of Stake means that transactions involving YGG Coin are secure and decentralized, while consuming far less energy than traditional mining. By building on Ethereum, YGG benefits from this network’s stability and global infrastructure, which includes thousands of nodes that maintain the blockchain. This ensures that YGG transactions are verified quickly and securely, without depending on energy-intensive mining processes. Blockchain Features The YGG token is built using Ethereum’s ERC-20 token standard, which is a technical standard for tokens that can be issued on the Ethereum blockchain. This standard allows YGG to be easily integrated into a wide range of decentralized applications (dApps) and platforms, providing it with greater versatility and functionality. For example, ERC-20 tokens like YGG can be stored in popular Ethereum wallets such as MetaMask, traded on decentralized exchanges like Uniswap, and even used in decentralized finance (DeFi) applications for staking, lending, or yield farming. The compatibility of the ERC-20 standard ensures that YGG can be used across a variety of blockchain ecosystems. Also, Ethereum is undergoing continuous upgrades to improve its performance. One of the most significant updates is Ethereum 2.0, which aims to address issues like high transaction fees and scalability. These upgrades will allow the network to process more transactions per second, reducing congestion and lowering the costs of using the network. For YGG Coin, this means faster transactions and lower fees for users who participate in the Yield Guild Games ecosystem. By using Ethereum’s robust infrastructure and upcoming improvements, YGG is well-positioned to scale as the play-to-earn gaming industry grows. This allows for seamless interaction between the YGG token and a wide range of platforms, ensuring that it remains relevant in the evolving blockchain space. Read Also: Blockchain in the Automotive Industry: The Future of Cars Use Cases and Applications These examples demonstrate how Yield Guild Games is building a broad network of opportunities for players and token holders across multiple blockchain platforms, increasing the value and use of YGG Coin within the growing play-to-earn economy. Primary Use Cases Yield Guild Games (YGG) Coin serves multiple purposes within the Yield Guild Games ecosystem, making it an important tool for both governance and participation in various activities. Here are the key use cases for YGG Coin: Governance One of the primary uses of YGG Coin is for governance. Token holders are given the ability to vote on important decisions that impact the future direction of the Yield Guild Games platform. These decisions can range from how the guild’s funds are allocated to investments in new in-game assets or partnerships with other blockchain projects. For example, if Yield Guild Games wants to invest in a new play-to-earn game, YGG holders can vote to approve or reject that investment. This governance system ensures that the community has a direct say in how the guild is managed, making it a decentralized organization. Staking Another major use case for YGG Coin is staking. Users can stake their YGG tokens to earn rewards, such as additional tokens or other in-game benefits. Staking helps support the general network by encouraging long-term participation. By staking tokens, users show their commitment to the guild and are rewarded in return. This system helps strengthen the community and provides a way for token holders to passively earn income while supporting the ecosystem. The average staking reward for YGG token holders can exceed 10% annually, reflecting the token’s utility and the guild’s success in its investments. Access to Exclusive Content Holding YGG tokens also provides exclusive access to certain opportunities within the play-to-earn space. For example, Yield Guild Games frequently acquires valuable NFTs
Top DEX (Decentralized Exchange) Statistics for 2024
If you’re into crypto or just curious about how people are trading without using traditional banks or brokers, then decentralized exchanges (DEXs) are for you. These platforms have completely changed the way we think about trading crypto. Just recently, most decentralized exchanges even support anonymous trading without you opening an account. This has exploded the numbers behind DEXs. For instance, massive trading volumes are now becoming a norm. These top DEX (Decentralized Exchange) statistics in 2025 come with some pretty big surprises. You won’t want to miss what’s been happening so far. Recommended reading: 20 Best Decentralized Crypto Exchange in 2024 (Ranked) Here are the top Decentralized Exchange (DEX) statistics for 2024: Decentralized exchanges (DEXs) reached $370.7 billion in Q2 2024 This number shows the total amount of cryptocurrency traded on DEXs in 2024. This highlights the growing use of decentralized exchanges as more people trade through them instead of centralized platforms. In a nutshell, DEXs are becoming popular. By the end of 2024, this number could continue growing if DEXs keep improving security and user experience. Top DEX by Volume: Uniswap (55%) Uniswap remains the largest decentralized exchange, processing over half of all DEX trades. This dominance shows its strong reputation, high liquidity, and ease of use. Uniswap is likely to remain a leader but could face competition as newer DEXs improve their features. Average Daily Trading Volume: $4.93 billion On average, DEXs handle almost $5 billion in daily trades. And these DEXs daily trading volume might rise as crypto markets recover from bearish trends, and DEXs become more user-friendly. Read Also: Top DeFi Yield Farming Statistics for 2025 Number of DEXs: Over 800 Over 800 decentralized exchanges are operating in 2024. The competition in DEXs keeps increasing yearly, but only those offering better security and liquidity may thrive. Average transaction fee for DEX Fees is 0.2% The average transaction fee on DEXs is around 0.2%, which is cheaper than fees on centralized exchanges. These lower fees make DEXs more attractive to traders, especially those with smaller transactions. Over 1.5 million people provide liquidity on DEXs Over 1.5 million people provide liquidity on DEXs, enabling smooth and efficient trading. Liquidity providers ensure that users can trade quickly without large price fluctuations. This number is expected to increase as more people seek to earn passive income through decentralized finance (DeFi). Over 10,000 Unique Token Listings There are over 10,000 unique tokens available on DEXs in 2024, reflecting the open nature of these platforms. Compared to CEXs, DEXs gives users access to smaller and newer projects. Fun fact? Token listings could grow as more projects opt for decentralized platforms for their initial offerings. DEX Transaction Growth: 800 million+ DEX transactions are expected to exceed 800 million by the end of 2024, up 25% from 2023. The growth rate could accelerate if DeFi continues to expand, driving more on-chain activity. More than 7 million people will have used DEXs by the end of 2024 More than 7 million people will have used DEXs by the end of 2024, compared to 5.5 million in 2023. This growing user base reflects the increasing popularity and accessibility of decentralized exchanges. The user base will likely expand further as DEX interfaces improve and onboarding becomes easier. Recommended reading: Comparison Between Centralized and Decentralized Crypto Exchanges Governance Token Market Cap: $35 billion Governance tokens like UNI, SUSHI, and CAKE have a combined market value of $35 billion. These tokens give holders voting power over DEX decisions, reflecting the decentralized nature of these platforms. As more people get involved in DEX governance, the value of these tokens could rise, especially if DEXs introduce more features tied to token ownership. Just in case you’re wondering what Decentralized exchanges are, and how they differ from Centralized exchanges, continue reading. What Are Decentralized Exchanges? Decentralized exchanges (DEXs) are platforms that allow users to trade cryptocurrencies directly with one another, without the need for intermediaries like banks or brokers. They operate on blockchain technology. This means that trades are processed automatically through smart contracts, ensuring transparency and security. Unlike centralized exchanges, where trades go through a single point of control, DEXs offer a peer-to-peer trading experience that puts users in control of their assets at all times.There is no single entity in charge. While CEXs typically offer faster transaction times and more liquidity, DEXs provide greater security, anonymity, and control over your assets. There is lower risk of hacks and data breaches since there’s no central authority managing user funds. However, DEXs may have slower transaction speeds and lower liquidity in comparison. Read Also: Key Crypto Exchanges Statistics and Trends Conclusion These top DEX (Decentralized Exchange) statistics reveal that decentralized exchanges are growing rapidly, driven by the demand for privacy, control, and lower fees. If current trends continue, DEXs will take an even larger share of the crypto market by the end of 2024, competing strongly with centralized exchanges. Frequently Asked Questions
How Does Blockchain Support Data Privacy: A Simple Guide
Blockchain technology has gained a lot of attention for its ability to change industries like finance and supply chain management. However, one of its most important yet less talked about features is how it can help protect data privacy. At a time when data breaches, identity theft, and unauthorized access are growing concerns, safeguarding our digital footprints has become crucial, blockchain offers a robust solution for safeguarding sensitive information. This is especially important for individuals and corporations handling vast amounts of sensitive data, as ensuring privacy and security is essential to maintain trust and compliance in an increasingly connected world. In that case, if you are wondering how does blockchain support data privacy? This article will explore the various methods, discussing key concepts, use cases, and potential challenges. Read Also: Everything You Need To Know About Security Token Offering (STO) Key Takeaways: The Growing Importance of Data Privacy With the digitalization of personal and business information, the volume of data generated globally has surged to unprecedented levels. According to research, it’s estimated that 463 exabytes of data will be generated daily worldwide by 2025, and much of this data is personal or sensitive. Governments and organizations are grappling with the task of protecting this data, given that breaches can result in financial losses, reputational damage, and violations of privacy rights. “A 2023 study by IBM found that the average cost of a data breach has reached a staggering $4.35 million.” Data privacy regulations like the General Data Protection Regulation (GDPR) in the European Union and the California Consumer Privacy Act (CCPA) in the United States are increasingly stringent. These laws mandate that organizations handle data responsibly, giving users more control over how their personal information is collected, used, and shared. Traditional methods of data storage and protection, often relying on centralized systems, have proven to be inadequate in the face of sophisticated cyberattacks. This is where blockchain technology comes into play, offering a decentralized, secure, and transparent solution for data privacy. Traditional Centralized Systems Blockchain Ledger System Dependent on a single point of failure Eliminates single points of failure Data is managed by a centralized authority Data is distributed across numerous nodes Susceptible to unauthorized access and security breaches Improved security and privacy safeguards Restricted by the security protocols enforced by the central authority Robust cryptographic techniques and decentralized verification methods Table showing differences between Traditional system and Blockchain system Overview of Blockchain Technology Blockchain is a decentralized, distributed ledger system that records transactions across multiple nodes or computers. Blockchain offers a secure, transparent, and tamper-resistant method for recording and storing data, making it applicable across numerous industries beyond cryptocurrencies. This includes use cases like supply chain management, voting systems, and digital identity verification. In blockchain’s data structure, information is stored in blocks, each linked to the previous one in chronological order. Every block has a unique identifier and a reference to the prior block, creating an unchangeable record. This design ensures that once data is recorded, it cannot be altered or tampered with. Types of Blockchains Blockchains networks come in types and we’ll explore each of these technologies. Public Blockchain A public blockchain, where cryptocurrencies like Bitcoin originated, is a decentralized, permissionless network that distributes data across a peer-to-peer system. It uses consensus algorithms, such as proof of work (PoW) and proof of stake (PoS), to verify data and ensure transparency. Anyone with internet access can join the network, access records, and conduct mining activities. Public blockchains are independent of any organization, and their transparency is an advantage. However, they can be slow, vulnerable to 51% attacks, and don’t scale well. Common use cases include cryptocurrency mining, electronic notarization, and public records. Private businesses typically avoid public blockchains due to transparency concerns. Private Blockchain A private blockchain operates within a closed network or under a single entity’s control, using peer-to-peer connections like public blockchains but on a smaller scale. Known as permissioned or enterprise blockchains, they allow the controlling organization to set permissions, security, and access levels, offering more control over data visibility and modification. Private blockchains are fast and process transactions quickly due to their limited size. However, they face criticism for not being “true” blockchains due to their centralized nature, reduced trust, and potential security risks from rogue nodes. Use cases include supply chain management, asset ownership, and internal voting, where speed and data privacy are prioritized. As noted by Godefroy, principal and deputy enforcement head at Rouse, an intellectual property services provider; “Private blockchains can be compared to an intranet, offering restricted access within a specific organization or group, while public blockchains resemble the internet, providing open access to everyone.” Hybrid Blockchain Hybrid blockchain merges private and public blockchain elements, enabling organizations to control data access. It combines a private, permission-based system with a public, permissionless one, allowing confidential information to remain secure while still verifiable through smart contracts. Users have full network access but reveal their identity only during transactions. Key advantages include protection against 51% attacks, enhanced privacy, faster transactions, and better scalability. However, it lacks full transparency, can be challenging to upgrade, and offers no user incentives. Use cases include real estate for private systems with public listings, retail for streamlined processes, regulated financial markets, and secure medical and governmental data management. Consortium Blockchain A consortium blockchain, also known as a federated blockchain, combines features of both private and public blockchains. Unlike a fully private blockchain controlled by one entity, a consortium blockchain is managed by multiple organizations, enhancing security and decentralization. Consensus is achieved through preset validator nodes, with member nodes able to initiate or receive transactions. This type of blockchain is more secure, scalable, and more efficient than public blockchains, with controlled access. However, it is less transparent and can be compromised if a member node is breached. Consortium blockchains are well-suited for banking, payments, supply chains, and research organizations, where multiple parties need to collaborate securely. Key Components of Blockchain Technology The key attributes that make blockchain technology a
What is Block Finality in Cryptocurrency?
Have you ever wondered why, while sending Bitcoin, your wallet prompts you to “confirm” the transaction? By clicking “Confirm,” you are doing more than giving permission. You’re signaling your transaction to join the queue for the next block on the blockchain. This process might seem instant. But, complex systems work behind the scenes. They validate and finalize your transaction. They ensure it is secure and permanent. This process, known as “block finality,” is the cornerstone of cryptocurrency security. It guarantees that once a transaction is confirmed, it’s written in stone, immune to being tampered with or reversed. Knowing how block finality works will help you appreciate the integrity of every transaction in the $1 trillion crypto market. It’s why you can trust that your digital assets are truly yours and that your transactions, once confirmed, are set in stone. Key Takeaways What is Block Finality in Cryptocurrency? Block finality is the assurance that once confirmed, a transaction can’t be changed or undone. In simpler terms, finality means a transaction is permanent. It is immutable. This gives all network participants certainty. They can trust the recorded state of the blockchain. Finality is achieved through consensus mechanisms, which validate and confirm transactions. These mechanisms, such as Proof of Work (PoW) and Proof of Stake (PoS), require a majority of network participants (nodes or validators) to agree on the validity of a transaction before it is added to the blockchain. Once a transaction reaches finality, it becomes part of the immutable ledger, making it nearly impossible to tamper with without overwhelming the network’s security, which is extremely costly and impractical. For example, in Bitcoin’s PoW consensus, a transaction is considered final and irreversible after six confirmations due to the immense computational effort required to alter the blockchain history. Importance of Block Finality Finality is crucial for the security and stability of cryptocurrency networks for several reasons: Prevents Double-Spending Block finality is essential in preventing double-spending, a scenario where a digital currency is spent more than once. In a decentralized system like Bitcoin, ensuring that once a transaction is confirmed, it cannot be undone or altered is critical to maintaining the currency’s integrity. Without finality, malicious actors could reverse transactions after purchases. They could spend the same coins twice. The 51% attack on Bitcoin Gold in 2018 is a prime example of a situation where insufficient finality allowed attackers to double-spend and reverse transactions, leading to a loss of over $18 million. Ensures Trust and Confidence Finality ensures that all participants in the network can trust that a confirmed transaction will not change. This certainty is vital for those who use the blockchain. They include individuals, businesses, and developers. They rely on it for apps, from financial transactions to smart contracts. For instance, the Ethereum DAO hack in 2016 showcased the importance of finality. Ethereum’s community decided to hard fork to recover stolen funds. This event highlighted the need for clear, immutable finality rules in the blockchain. Supports Legal and Regulatory Compliance In the United States, for example, the finality of transactions is a legal requirement, especially for financial services. Block finality ensures that once a transaction is added to the blockchain, it meets legal standards for non-reversibility, making it compliant with regulatory frameworks. This aspect of finality is significant for institutions that need to maintain accurate records for auditing and reporting purposes. The SEC’s guidelines on digital assets emphasize the importance of transaction finality for ensuring compliance with financial regulations. Strengthens Network Security Finality enhances the security of the blockchain network by making it incredibly difficult for attackers to alter confirmed transactions. In proof-of-work (PoW) systems like Bitcoin, altering a block that has reached finality would require an attacker to redo the computational work for that block and all subsequent blocks, which is practically impossible due to the immense resources required. This security feature is why Bitcoin is often considered one of the most secure cryptocurrencies. In proof-of-stake (PoS) systems, finality is achieved by validators who lock up their stakes as collateral, making it economically irrational for them to attack the network. “The absence of finality would render cryptocurrencies useless. Without it, there would be no security, no trust, and no way to build the complex financial systems that we envision.” Read Also: Bitcoin vs Ethereum: Which Is The Better Store Of Value? How Block Finality Works Block finality is central to blockchain security and relies on consensus mechanisms. These mechanisms ensure that all participants (nodes) in the network agree on the validity of transactions and the current state of the blockchain. Two major consensus mechanisms in cryptocurrencies are Proof-of-Work (PoW) and Proof-of-Stake (PoS): Proof-of-Work (PoW) In PoW, miners compete to solve complex mathematical puzzles. The first miner to solve the puzzle gets to add the next block of transactions to the blockchain. As more blocks are added on top of the confirmed block, the transaction within it becomes more secure and final. Bitcoin uses PoW, and transactions are considered finalized after six confirmations, meaning six blocks have been added after the one containing the transaction. Proof-of-Stake (PoS) PoS operates differently by selecting validators based on the amount of cryptocurrency they hold (or “stake”). Validators propose and confirm blocks, and when a majority agrees, the block is finalized. PoS is more energy-efficient compared to PoW. For example, in the Ethereum PoS system, validators who act dishonestly can lose their entire stake, making it financially impractical to attack the network. In PoW systems like Bitcoin, miners perform a similar role, with computational power replacing financial stakes as the validator’s “skin in the game.” Types of Block Finality Blockchains can achieve finality differently, depending on their underlying design and consensus mechanism. Finality types can be categorized into probabilistic, economic, absolute, and instant finality. Understanding these types helps you assess how secure and irreversible their transactions are. Probabilistic Finality Probabilistic finality means that the probability of a transaction being reversed decreases as more blocks are added after the block containing the transaction. While a transaction