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Blockchain Press Releases

Bitget Wallet Launches Ecosystem Token BWB with an Airdrop Points Program

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VICTORIA, Seychelles, March 18, 2024 /PRNewswire/ — On March 18th, Bitget Wallet, the leading Web3 wallet in Asia, proudly announced the launch of its official ecosystem token, BWB, along with an innovative BWB Points airdrop event. This marks a significant milestone in the platform’s commitment to enhancing user engagement and fostering a vibrant community ecosystem.

Introduction of the BWB Token and Its Airdrop Initiative

According to the announcement, the total supply of BWB tokens is set at 1 billion, with a generous allocation of 5% dedicated to community airdrops. These airdrops will be distributed as BWB points, offering users the future opportunity to exchange points for actual BWB tokens. This strategic move aims to energize the community and boost participation.

To engage its diverse user base, Bitget Wallet has rolled out a six-week airdrop campaign from March 18th to April 28th. This initiative is divided into two main parts: the “Initial Airdrop”, rewarding loyal users, and the “Task Airdrop”, designed for users who complete certain activities. This streamlined approach aims to enhance participation across the board.

For the “Initial Airdrop”, Bitget Wallet looked back and rewarded existing users based on their previous use of the wallet, such as how many assets they held, their swap transactions, and their participation in various activities. It also gave bonus airdrops to users who had used the Swap feature in other well-known Web3 wallets such as MetaMask, Trust Wallet, and Coinbase Wallet. Additionally, new users who download the Bitget Wallet App during the campaign will receive an airdrop of 50 BWB points.

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On the “Task Airdrop”, all Bitget Wallet users have the opportunity to earn BWB points by completing specific tasks. These include keeping assets in the wallet, conducting swap transactions, and inviting friends. Each task offers a different number of points, allowing users to gather points every day.

Speaking about BWB’s future, Bitget Wallet’s COO, Alvin Kan shared, “We are eagerly anticipating the official release of BWB tokens in the second quarter of 2024, which will empower users to convert their accrued BWB points into tokens. It’s important to us that BWB serves as a key to unlocking exclusive benefits for its holders, offering them a voice in community governance, access to ecosystem airdrops, and a dividend in the rewards driven by the growth of Bitget Wallet.”

Asia’s Leading Web3 Wallet and a Global Top Five Contender

With over five years under its belt, Bitget Wallet has navigated through several market cycles, capitalizing on the rise of DeFi and the mainstreaming of Web3. This strategic navigation has spurred rapid growth in its user base, now exceeding 19 million globally, positioning Bitget Wallet as the largest Web3 wallet in Asia and one of the top five globally.

The wallet’s journey of innovation and growth was further propelled by a $15 million Series A financing round led by Dragonfly. This milestone was followed by a significant acquisition in 2023 by Bitget, one of the top ten global centralized exchanges and top five derivatives exchanges, at a valuation of $300 million. This acquisition not only came with a $30 million investment but also marked a pivotal brand upgrade for Bitget Wallet. Today, anchored in the Bitget Group’s ecosystem, Bitget Wallet plays a crucial role as the gateway to decentralized ecosystems. The upcoming BWB token will thus serve not only as Bitget Wallet’s core asset but also as a fundamental asset and Web3 equity certificate across the Bitget decentralized ecosystem, bridging practical use cases within Bitget Wallet and broader ecosystem engagement.

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As the industry shifts towards decentralized asset management and trading, the narrative is also evolving towards a focus on community-driven stories, with Web3 wallets emerging as leaders in this space. Over the years, Bitget Wallet has refined the standards for Web3 wallet products, being the first to offer a full-chain perspective, aggregate DEX prices across all-chains, facilitate seamless cross-chain transactions, and launch an NFT marketplace and Launchpad platform.

Bitget Wallet has evolved beyond a multifunctional Web3 wallet to become a comprehensive platform encompassing a DEX aggregator, NFT marketplace, market analytics tool, Launchpad platform, inscription portal, and a Web3 task platform. This breadth of features and exemplary user experience are the pillars of Bitget Wallet’s competitive edge.

Empowering Users with New Assets and Opportunities

Another cornerstone of Bitget Wallet’s success is its ability to unveil the latest assets and investment opportunities, enabling users to maximize their earnings through innovative product features and strategic operations.

Focusing on new assets and earning opportunities, Bitget Wallet has consistently centered its development around these themes, embedding them into nearly every key feature to ensure users have access to fresh opportunities and enhanced wealth potential.

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Bitget Wallet’s unmatched support spans more than 100 major blockchains and numerous EVM-compatible networks, facilitating a seamless Web3 experience. Users can effortlessly manage assets, trade tokens, engage with NFTs, and explore DApps.

At the heart of the wallet, Bitget Swap stands out by supporting multi-chain transactions across more than 40 networks, aggregating data from hundreds of DEXs and cross-chain bridges, and offering an extensive selection of tokens paired with innovative features like gas-free transactions and automatic slippage adjustments. Additionally, its intelligent market analysis tools provide users with real-time insights, helping them make informed trading decisions.

To further enhance user earnings, Bitget Wallet has introduced a comprehensive portal featuring Task2Get, Fair Launchpool, and Invite2Get, among others, providing users with a rich array of rewarding tasks and airdrop activities.

Security is paramount for Bitget Wallet, which has established the GetShield security system to safeguard every transaction and interaction. This system addresses a range of security challenges, including on-chain phishing and fraud, through comprehensive measures such as risk token detection, contract analysis, and more. Additionally, Bitget Wallet benefits from a shared $300 million risk protection fund with Bitget, bolstering its risk mitigation capabilities.

Looking ahead, Alvin elaborated, “The launch of BWB marks a new beginning for us. As we enter this new phase, we’re excited to introduce more innovative products and expand our ecosystem. Our goal with BWB is to bring a billion users into Web3, uncovering new assets and opportunities, and accelerating our journey towards a more community-driven governance model. We want our users to be an integral part of our growth and to share in the successes of Bitget Wallet’s development.”

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About Bitget Wallet

Bitget Wallet is Asia’s largest and leading global Web3 trading wallet with over 19 million users worldwide. It offers a comprehensive range of features, including asset management, intelligent market data, swap trading, launchpad, inscribing, and DApp browsing. Currently, it supports more than 100 major blockchains, hundreds of EVM-compatible chains, and over 250,000 cryptocurrencies. Bitget Wallet enhances liquidity by aggregating it across hundreds of top DEXs and cross-chain bridges, facilitating seamless trading on over 40 blockchains.

For more information, visit: Website | Twitter | Telegram | Discord

View original content:https://www.prnewswire.co.uk/news-releases/bitget-wallet-launches-ecosystem-token-bwb-with-an-airdrop-points-program-302091403.html

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Blockchain Press Releases

Taiwan’s Leading Crypto Market Leader BitoGroup Partners with Digital Bank to Launch World’s First Crypto-Friendly Bank Account

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TAIPEI, June 21, 2024 /PRNewswire/ — BitoGroup, the leading cryptocurrency market leader in Taiwan, today announced its partnership with Far Eastern International Bank Bankee to launch the world’s first dedicated crypto-friendly bank account. As cryptocurrency adoption by international institutions continues to grow, BitoGroup began serving financial institutions two years ago, setting a precedent as the first cryptocurrency exchange to form an alliance with financial institutions. This partnership promotes seamless integration between traditional banks and third-party payment processors. It represents a significant breakthrough for the financial market and has sparked considerable interest within Taiwan’s financial sectors. By collaborating with large institutions, BitoGroup aims to strengthen the cryptocurrency ecosystem and plays a crucial role in driving innovation in financial technology.

The world’s first dedicated bank account for cryptocurrency users is the result of three years of research and effort by BitoGroup and Bankee. This innovative service was achieved by integrating the systems and service processes of the two companies, while ensuring compliance with regulations and supervisory measures, and prioritizing user’s experience.

“Both BitoGroup and Bankee place great emphasis on the security of member assets, platform stability, and user transaction experience,” said Titan Cheng, Founder and CEO of BitoGroup., “Since the initial pilot phase, we have received positive feedback from the community. The Bankee dedicated account can be linked to BitoPro’s exchange account and set up in as little as one hour, significantly enhancing user’s convenience. During the pilot phase, the average daily transaction amount per user increased by 25%. With over one million members in Taiwan, we expect explosive growth once the service is officially launched.

Cheng emphasized that the cryptocurrency community is excited about the collaboration between exchanges and traditional financial institutions. This collaboration will positively improve user confidence in transactions and reverse the negative image of cryptocurrency scams. In the future, BitoGroup will join forces with Bankee to introduce more services, enriching the flexibility of utilizing both fiat and cryptocurrencies.

BitoPro has also partnered with Taiwan’s largest third-party payment processors, Neweb Technologies, to launch “BitoPay”, enabling 300,000 merchants and millions of members to use cryptocurrency for payments, making “BitoPay” the most widely accepted crypto payment solution in Taiwan.

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BitoGroup believes that partnering with large institutions to integrate cryptocurrency use into existing operational systems is not only the best way to promote cryptocurrency usage but also fosters innovation. Initiatives such as exchanging convenience store loyalty points for digital currency, enabling cryptocurrency payments through e-commerce third-party payment services, and the recent launch of crypto-friendly accounts with Bankee, all contribute to expanding the existing ecosystem. BitoGroup’s robust blockchain infrastructure, combined with a focus on optimizing service processes through technology, will create a win-win situation for institutions, exchanges, and users.

Taiwan’s cryptocurrency industry has officially entered a new era of regulation with the establishment of the Virtual Asset Service Provider (VASP) Association. BitoGroup’s founder and CEO, Titan Cheng, has been elected as the first Chairman of the VASP Association. This close cooperation between cryptocurrency and traditional financial institutions will help strengthen the trust of regulatory authorities and financial institutions in the cryptocurrency industry, laying a solid foundation for the crypto-financial system.

About BitoGroup

Founded in 2014, BitoGroup aims to use blockchain technology to achieve the goal of inclusive finance, including assisting companies and consumers to enter the new era of Web3. The businesses of the group include BitoPro (a cryptocurrency exchange), BELS (an NFT empowerment platform), and O2 META (a metaverse-focused social media platform).

View original content:https://www.prnewswire.co.uk/news-releases/taiwans-leading-crypto-market-leader-bitogroup-partners-with-digital-bank-to-launch-worlds-first-crypto-friendly-bank-account-302178876.html

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Blockchain

Digital Currency Initiative Launches in Taiwan by Collaborating with Prestigious University

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In an innovative effort to revolutionize digital financial education, a prominent digital currency provider has teamed up with a renowned university in Taiwan. This strategic collaboration aims to equip students with advanced knowledge and practical experience, preparing them for the future of finance.

Empowering Future Financial Professional

The partnership focuses on immersing students in the complex world of digital assets, blockchain technology, and cutting-edge financial instruments. Industry experts will offer invaluable insights and mentorship, enhancing students’ understanding and skills in this rapidly evolving field.

Curriculum Highlights:

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  • Blockchain Principles: Foundational knowledge of blockchain technology.
  • Critical Thinking: Developing analytical skills for problem-solving in digital finance.
  • Risk Assessment: Strategies for identifying and managing financial risks.
  • Legal Compliance: Understanding the regulatory landscape and compliance requirements.
  • Career Insights: Exploring potential career paths in the digital finance industry.

Commitment to Digital Economy Growth

This initiative underscores a commitment to fostering the digital economy’s growth by highlighting the stability of digital assets against traditional currencies. The newly introduced digital token combines traditional asset stability with blockchain security, offering a robust financial instrument for the future.

The digital currency provider has a long-standing history of promoting blockchain education and advocating for financial inclusivity. By facilitating cross-border transactions and investing in emerging markets, the organization continues to play a crucial role in shaping digital finance’s future.

Advancing Financial Literacy and Inclusivity

This collaborative effort represents a significant step towards democratizing financial literacy and empowering individuals worldwide to engage with the evolving digital currency landscape.

Additional Facts:

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  • Taiwan’s Blockchain Hub: Taiwan actively promotes itself as a hub for blockchain and digital currency innovation through various initiatives.
  • Research and Development: The partnership is expected to spur increased R&D activities in digital assets, benefiting both academia and industry.
  • Regulatory Exploration: Taiwan’s government is interested in exploring regulatory frameworks for digital currencies and blockchain technology, creating a supportive environment for such collaborations.

Key Questions Addressed

  1. Impact on Adoption: How will the collaboration between the digital currency provider and the university impact the adoption of digital currencies in Taiwan?
  2. Skills and Knowledge: What specific skills and knowledge will students gain from the curriculum focusing on blockchain technology and digital assets?
  3. Regulatory Compliance: How does the initiative address potential regulatory challenges and compliance issues in the digital currency space?

Advantages and Disadvantages

Advantages:

  • Enhanced Education: Offering students unique educational opportunities in digital finance and blockchain technology.
  • Industry-Academia Bridge: Providing hands-on experience and mentorship to bridge the gap between academia and industry.
  • Economic Growth: Contributing to the growth and development of the digital economy in Taiwan and beyond.

Disadvantages:

  • Curriculum Updates: Potential challenges in keeping the curriculum up-to-date with the rapidly evolving digital currency landscape.
  • Practical Exposure: Ensuring students receive practical, real-world experience to complement theoretical knowledge.
  • Regulatory Balance: Balancing the promotion of digital currencies with the need for regulatory compliance and risk management.

The collaboration between the digital currency provider and the Taiwanese university marks a significant milestone in digital financial education. By integrating industry expertise with academic rigor, this partnership aims to nurture the next generation of financial professionals and foster the growth of the digital economy.

Source: smartphonemagazine.com

The post Digital Currency Initiative Launches in Taiwan by Collaborating with Prestigious University appeared first on HIPTHER Alerts.

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Binance Appeals Against $4.3M Penalty Imposed by Canada Regulator

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In a recent court appeal, Binance argued that it does not specifically target Canadian customers, claiming its activity in Canada is merely a byproduct of its international operations, according to a June 19 report by the Canadian Press. The exchange revealed that although it had previously attempted to establish a Canadian presence, these plans were abandoned. By May 2023, Binance had fully exited the Canadian market, citing new regulations on stablecoins and investor restrictions that made continued operations unfeasible. Despite its departure, Binance acknowledged the sentimental value of Canada, being the home country of its founder.

In May, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) imposed a $4.3 million fine on Binance for non-compliance with anti-money laundering (AML) and terrorist financing rules. FINTRAC claimed that between June 2021 and July 2023, Binance failed to report over 5,000 transactions of $10,000 or more. Additionally, despite having multiple opportunities, Binance failed to register as a money services business within the deadlines set by the regulator.

Beyond its issues in Canada, Binance is facing a multitude of legal challenges globally. In April, a class-action lawsuit was filed against the exchange in Canada, accusing it of violating securities laws. The plaintiffs allege that Binance sold crypto derivative products to everyday investors without proper registration, breaching Ontario’s Securities Act and federal regulations. This lawsuit, representing tens of thousands of Canadian investors, seeks compensation and the reversal of unauthorized trades.

Globally, Binance has also faced significant financial penalties. In November, the exchange settled with US authorities, agreeing to a $4 billion fine for violations of anti-money laundering and sanctions laws. Similarly, the Indian Financial Intelligence Unit imposed a $2.24 million fine, the largest ever against a crypto entity in the country, for failing to comply with AML regulations.

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Binance’s regulatory and legal troubles illustrate the significant challenges faced by cryptocurrency exchanges operating across multiple jurisdictions. While the exchange continues to navigate these complexities, its ability to comply with global regulatory standards and address legal disputes will be critical to its long-term viability and reputation in the market.

Source: cryptonews.com

The post Binance Appeals Against $4.3M Penalty Imposed by Canada Regulator appeared first on HIPTHER Alerts.

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