Blockchain
Leading Web3 app, Chingari Breaks into India’s Top 10 Grossing Social Apps on App Store by Revenue
World’s leading Web3 short video app, Chingari has achieved a remarkable milestone by securing a place in the top 10 grossing apps by revenue on the App Store in India. The home-grown app accomplished this feat in the last week of May in the social free apps segment. Additionally, the app has entered into the top 10 free social apps category on the App Store.
This accomplishment highlights Chingari’s growing influence and dominance in the highly competitive market. With its innovative features like Chingari Live, GARI Mining, Audio Rooms, user-friendly interface, and diverse short video content, Chingari has consistently delivered an exceptional user experience. Chingari clocked revenue of $ 10 million in the financial year 2022-23 and is expected to generate $ 25 million in revenue for the next financial year.
Just six months ago, Chingari was ranked outside the top 200 apps on the App Store. Since then, the platform has experienced exponential growth to achieve its current standing. One of the key factors contributing to its rise is the recent launch of the Chingari Live feature, allowing creators to showcase their talents, while users can interact with their favorite celebrities and content creators in real time.
Chingari being a Web3 app not only rewards creators but also the users for engaging on the app in the form of GARI, the native crypto tokens under the GARI Mining program, making it the only social app in the world to offer such incentives. Chingari has distributed rewards worth INR 8 crore to its users and creators since the launch of the mining program last year.
With its availability in 174 countries on the App Store, Chingari, the Indian app, has truly solidified its position as a global app, showcasing its widespread popularity and reach across the globe.
Sumit Ghosh, CEO & Co-Founder, Chingari said, “As Chingari gains tremendous popularity, it is evident that users are finding true value in our app. Our mission is to empower individuals and provide them with a platform that not only entertains but also rewards their active participation. We remain dedicated to enhancing user experiences, introducing new features, and expanding its global reach.”
A recent warning from the FBI regarding a crypto money transmitter seems to be aimed at the Samourai Wallet. This development highlights the increasing scrutiny and regulatory challenges faced by privacy-focused cryptocurrency wallets and services.
The FBI warning raises concerns about the use of certain cryptocurrency wallets that prioritize user privacy and anonymity, potentially enabling illicit activities such as money laundering and terrorist financing. While the warning does not explicitly name any specific wallet or service, the language used suggests that the Samourai Wallet may be the target of the advisory.
Samourai Wallet is known for its focus on privacy and security features, including coin mixing and stealth addresses, which aim to enhance user privacy and protect against surveillance and tracking. However, these features have drawn the attention of law enforcement agencies and regulators, who are increasingly concerned about their potential misuse by criminals.
The FBI warning underscores the challenges faced by privacy-focused cryptocurrency wallets in navigating regulatory compliance and law enforcement scrutiny. While these wallets aim to empower users with greater control over their financial privacy, they must also address regulatory requirements and law enforcement concerns to avoid legal and reputational risks.
As the cryptocurrency industry continues to evolve, privacy-focused wallets like Samourai Wallet will need to strike a balance between privacy and compliance, ensuring that they can provide robust privacy features while also addressing regulatory concerns and maintaining transparency with authorities. This delicate balance is essential to foster trust and confidence among users and regulators alike, ultimately enabling the continued growth and adoption of privacy-enhancing technologies in the cryptocurrency space.
Source: cointelegraph.com
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Blockchain
Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets
Pantera Capital is reportedly planning to raise $1 billion for a new fund that offers exposure to various crypto assets, as reported by Blockchain.News. This ambitious fundraising initiative underscores Pantera’s continued confidence in the potential of the cryptocurrency market and its commitment to providing investors with diversified investment opportunities in the digital asset space.
The new fund from Pantera Capital aims to capitalize on the growing demand for exposure to cryptocurrencies and blockchain-based assets among institutional and retail investors. By offering a comprehensive portfolio of crypto assets, the fund seeks to provide investors with access to a wide range of investment opportunities, spanning cryptocurrencies, tokens, and other digital assets.
Pantera’s decision to raise $1 billion for the new fund reflects its optimistic outlook on the long-term growth prospects of the cryptocurrency market. With increasing mainstream adoption and institutional interest in cryptocurrencies, Pantera sees significant potential for value creation and capital appreciation in the digital asset space.
As one of the leading blockchain-focused investment firms, Pantera Capital is well-positioned to attract capital from investors seeking exposure to the cryptocurrency market. The firm’s track record of successful investments and its experienced team of investment professionals are likely to bolster investor confidence and support for the new fund.
Pantera Capital’s plans to raise $1 billion for its new fund underscore its commitment to driving innovation and growth in the cryptocurrency market. As the fund attracts capital and deploys it into promising investment opportunities, it is poised to play a key role in shaping the future of the digital asset ecosystem.
Source: blockchain.news
The post Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets appeared first on HIPTHER Alerts.
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