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• LiteFinance has launched a range of competitions and bonus programs to win valuable prizes.
• Top five profitable traders can receive a cash prize in the ‘Best Of The Best’ monthly demo contest.
• Trade Smart Challenge participants need to get 50% profitability during a month and meet certain conditions at a moderate floating loss.

LiteFinance Launches New Competitions and Promotions

ECN broker LiteFinance has unveiled a new selection of contests and bonus programs, with opportunities to win valuable prizes, as well as receive tradable bonuses for their accounts.

Monthly Demo Contest

New LiteFinance customers can participate in the monthly ‘Best Of The Best’ demo contest with a prize pool of $10,000. The top five most profitable traders will receive a cash prize which serves as initial capital to start real crypto asset trading.

Valuable Prizes & Tradable Bonus

Participants are able to win valuable prizes such as brand new gadgets, or even an unforgettable trip to the Maldives. During this time period they may also be eligible for up to 100% tradable deposit bonuses.

Lucky Ticket Draw Expands Geography

The Lucky Ticket Draw has been expanded over the past year into various countries such as Morocco, Ghana, Mexico and more regions will be added soon. Special promotions are also being launched for national holidays in different countries; for example clients from Thailand can double their deposits in honor of Songkran (Thai New Year).

Trade Smart Challenge LiteFinance has prepared something new for traders from Singapore, Morocco, Uganda, and Afghanistan called Trade Smart Challenge”. Participants must reach 50% profitability within a month whilst meeting certain conditions at moderate floating loss – those who achieve this will receive half of their initial investment back as a reward!

• The Arbitrum airdrop is slated to take place on March 23rd, 2021
• There is a point system to calculate the amount of tokens each user will get
• A maximum of 10,200 tokens can be received by any single address

What Is the Arbitrum Airdrop?

The Arbitrum airdrop is an event that allows users to receive ARB tokens. It’s one of the most highly anticipated events in the cryptocurrency industry and will take place on March 23rd, 2021.

Who Qualifies for the Airdrop?

In order to qualify for the airdrop, users must have at least three points according to their point score. This score is based on various actions such as bridging funds to Arbitrum One and doing transactions. The maximum allocation any single address can receive is 10,200 ARB tokens.

What Is the Purpose of ARB Tokens?

ARB tokens are governance tokens with an initial supply cap of 10 billion. 11.62% of these (1.162 billion) will be distributed through the airdrop while 1.13% will go towards DAOs who helped build applications on Arbitrum.

When Was the Snapshot Date For Eligibility?

The snapshot date for determining eligibility was February 6th, 2023. This means that any action taken after this date won’t contribute towards receiving more ARB tokens in the airdrop event.

How Can I Check My Eligibility & Claim?

Users can already check their eligibility and precise claim for ARB tokens here before the official airdrop takes place on March 23rd 2021 . By following this link, users will be able to see how many points they have accrued and how many ARB tokens they are eligible for in total depending on this point score

• Silvergate Bank, a crypto-friendly bank, has recently announced that they will be going through a voluntary liquidation process.
• This follows their involvement with the now defunct FTX Group and the subsequent inquiries into their business dealings.
• Silvergate has stated that all customer deposits will be paid in full throughout this winding down process.

Silvergate Announces Voluntary Liquidation

Silvergate Bank, a crypto-friendly bank, has recently announced that they will be going through a voluntary liquidation process following their involvement with the now defunct FTX Group and the subsequent inquiries into their business dealings. Silvergate has stated that all customer deposits will be paid in full throughout this winding down process.

FTX’s Implosion

Trouble began brewing for the bank after FTX’s collapse and the inquiries into just how much Silvergate knew about its business dealings. Looming trouble continued to compound as other crypto heavy-hitters like Coinbase and Kraken announced that they too would take their business elsewhere while Silvergate delayed releasing results of its K-10 report by several weeks – raising further concerns among investors. Last week, Silvergate also announced it was shutting down its crypto payment network – one of its main selling points for exchanges – which raised further questions over its intentions.

Voluntary Liquidation Confirmed

Today’s press release has confirmed Silvergate’s intention to shutter its doors and begin a voluntary liquidation – but not before paying back all customer deposits in full. It is hoped that this orderly wind down of operations bodes well for those involved as well as keeping disruption to customers minimal whilst allowing them to receive what is rightfully theirs from the bank.

What Does This Mean for Bitcoin?

It remains unclear at this stage what impact this news may have on Bitcoin prices or whether it could lead to wider implications for other cryptocurrencies or even traditional banking systems in general; however, it does serve as yet another reminder of just how fragile cryptocurrency can be – particularly when dealing with third parties like banks who can quickly come under scrutiny from authorities or have internal issues arise which could ultimately cause them to close up shop without warning or recourse for customers involved in transactions with them at the time of closure.

Conclusion

The announcement of today serves as an important reminder to those interested in trading cryptocurrencies: always ensure you do your due diligence before investing your money into any platform – regardless of whether it is backed by a trusted financial institution or not!

• Voyager Digital customers voted in favor of the restructuring plan to sell their assets to Binance.US with 97% of voters approving the deal.
• Over 59,000 users participated in the voting process which was handled by corporate restructuring firm Stretto and documented by Director Leticia Sanchez.
• The $1 billion deal between Voyager and Binance.US will see both businesses working together for a successful transition for all parties involved.

Voyager Digital Customers Vote To Sell Assets To Binance.US

More than 59,000 users agreed with Voyager’s plan to sell its assets to the American affiliate of crypto exchange Binance. Nearly all customers of bankrupt crypto broker Voyager Digital have voted in favor of the company’s plan to sell its assets to Binance.US, the American affiliate of the crypto giant. According to a Tuesday filing at the United States Bankruptcy Court for the Southern District Of New York, about 97% of Voyager’s account holders accepted the $1 billion deal with Binance.US.

Voting Process Handled By Stretto

The voting process was handled by the corporate restructuring firm Stretto and documented by Director Leticia Sanchez. According to Stretto, the voters were grouped into four, namely, Class 3 – Account Holder Claims, Class 4A – OpCo General Unsecured Claims, Class 4B – HoldCo General Unsecured Claims, and Class 4C – TopCo General Unsecured Claims. The ballots were released to voters on January 25 with a submission deadline of February 22. The restructuring company released both hard copies and virtual ballots in order for votes to be counted as valid they had to meet certain criteria set out by Solicitation and Voting Procedures including being properly completed, executed by Claim holder or authorized representative and received by Stretto before deadline date .

Voyager-Binance US Deal

The $1 billion deal between Voyager and Binance US will see both businesses working together for a successful transition for all parties involved allowing them access new markets but more importantly giving customers improved access , liquidity , security , services , speed and cost effectiveness when trading cryptocurrencies .

Benefits For Customers

Customers will benefit from an increase number of available trading pairs while also benefiting from lower fees due improved accessibility that comes alongside this partnership . Lower fee structure along with better customer service should lead higher satisfaction rates among those who trade cryptocurrency through these platforms .

Conclusion

This agreement is yet another example of how companies are looking towards partnerships between each other as way improve user experience when it comes trading digital assets . Overall this is great news as it further strengthens trust within cryptocurrency community making exchanges like this even more attractive than before .

• Polygon Labs announced that it would reduce its team by 20%, resulting in 100 job cuts.
• The job cut comes shortly after the firm outlined plans to hire more employees at the end of 2022.
• Employees affected by the layoffs will be paid a three-month severance pay.

Polygon Labs Reduces Workforce with 100 Job Cuts

Polygon Labs has announced that it will reduce its team by 20%, resulting in 100 job cuts. This follows the company’s earlier announcement at the end of 2022 to increase headcount by 40%. Affected employees will receive a three-month severance pay, regardless of their level or tenure at Polygon Labs.

Why is Polygon Cuttting Jobs?

Polygon Labs stated that the decision was necessary for their journey and was made despite maintaining a robust treasury. It is important to note that this is part of wider industry trend as many other crypto organizations have undertaken similar measures since the start of last year’s bear market.

What About Plans to Hire More Employees?

It is worth noting that just four months ago, Polygon Labs spokesperson Bhumika Srivastava said that they were planning on adding 200 people to their workforce by the end of 2022 – representing a 40% expansion.

What Are the Implications?

The reduction in staff size could mean significant changes in how projects are managed internally and externally. It may also affect customer service and product development as fewer personnel means less capacity to carry out tasks quickly and efficiently.

Conclusion

Given the current state of affairs, organizations must ensure they are able to make difficult decisions while still protecting their workforce as much as possible – something which Polygon Labs appears to be doing with its severance payments for affected employees.

• The U.S. Securities and Exchange Commission (SEC) has threatened legal action against the issuer of the Binance stablecoin, Paxos.
• In response, Paxos announced that it will no longer mint BUSD from February 21st.
• This announcement caused a run on the third-largest stablecoin, with redemptions of BUSD increasing dramatically over the past few hours.

SEC Threatens Legal Action Against Paxos

The U.S. Securities and Exchange Commission (SEC) has recently accused the New York Department of Financial Services (NYDFS) regulated company of selling unregistered securities, even though BUSD is a stablecoin. In response to this accusation, Paxos announced that it will no longer mint the dollar-pegged asset from Feb 21st.

Run on BUSD

This news caused panic and led to an increase in redemptions of BUSD over the past few hours. Although Paxos stated that its BUSD reserves are fully backed 1:1 to the dollar, investors have still chosen to withdraw their funds leading to a 2.2% decline in supply in just a few hours – falling from $16.15 billion circulating before the announcement to $13 billion now.

Attack On Binance?

The SEC’s decision to target BUSD has sparked speculation amongst industry analysts who view this as a “clandestine attack” on cryptocurrency exchange platform, Binance – which uses its own stablecoin -Binance USD (BUSD).

Increased Redemptions

Due to market uncertainty caused by this news, investors have chosen to withdraw their funds from exchanges and other services offering BUSD causing an increase in redemption requests for USDC, Tether and PAXG tokens which have all seen substantial increases since yesterday’s announcement .

Conclusion

It remains unclear how this news will affect both Paxos and crypto markets going forward but one thing is certain; investors are spooked by recent regulatory developments and are increasingly opting for more secure assets such as gold or cash instead of digital assets like cryptocurrencies or stablecoins

• Uniswap will be deploying on Ethereum’s layer 2 protocol Boba Network following a successful governance vote from the Uniswap community.
• The vote will result in Uniswap v3’s deployment to Boba in the coming weeks, which will support lightning-fast transactions and fees 40-100 times less than the Ethereum mainnet and other layer 1 networks.
• Boba Network’s Hybrid Compute technology will make it possible for developers to build new hybrid on-chain/off-chain DeFi applications atop of Uniswap.

Uniswap Set to Deploy on Boba Network

Leading decentralized exchange (DEX) Uniswap v3 will be deploying on Ethereum’s layer 2 protocol Boba Network following a successful governance vote from the Uniswap community. 51.01 million answered YES out of the 40 million needed to pass it, resulting in Uniswap v3’s deployment to Boba in the coming weeks.

Boba Network: Lightning-Fast Transactions & Low Fees

Boba Network is a layer 2 scaling solution powered by Hybrid Compute technology that supports lightning-fast transactions and fees 40-100 times less than the Ethereum mainnet and other layer 1 networks. The platform has already deployed multichain support for Avalanche, BNB, Moonbeam, and Fantom.

A New Generation of Hybrid On-Chain/Off-Chain DeFi Apps

Commenting on the development, Alan Chiu, Boba’s core contributor said that Boba Network’s Hybrid Compute will make it possible for ecosystem developers to build a new generation of hybrid on-chain/off-chain DeFi applications atop of Uniswap. While the Uniswap protocol will remain permissionless, developers will be able to build a compliant layered infrastructure across various blockchains.

Proposal Backers Include GFX Labs & Blockchain at Michigan

The proposal was earlier submitted by the Boba Foundation and FranklinDAO with backers including GFX Labs, Blockchain at Michigan, Gauntlet, and ConsenSys among others who voted yes for this move towards interchain communication between DEXs like Uniswap v3 and blockchains like Ethereum and Polkadot via cross chain bridges such as Thorchain or RenVM.

Conclusion: Improved Interoperability Across Blockchains

This development is significant as it opens up vast opportunities for improved interoperability between different blockchains while also enabling faster transactions at lower costs which could potentially lead to higher adoption rates amongst users across multiple chains.

• Bitcoin stands above $23K and is slightly in the green today.
• Litecoin is among the few altcoins with an impressive price surge, rising 7.5% to an 8-month high.
• Other altcoins are relatively calm today.

The cryptocurrency market has been quite active in the past week, with Bitcoin staying firmly above the $23,000 mark. After a surge from $21,000 to beyond $23,000 last weekend, BTC has been spending most of the week in a range between $22,000 and $23,000, aside from a couple of brief price pumps. The most notable one took the asset to beyond $23,500. However, it failed to stay above that level and is currently standing at around $23,200, slightly in the green today.

Meanwhile, the altcoins are relatively calm today, with only Litecoin standing out as a notable gainer. LTC has seen an impressive price surge over the past 24 hours, rising 7.5% to an 8-month high. This makes it one of the few altcoins to have an impressive price surge in the past few days.

Overall, the cryptocurrency market looks quite bullish, with investors expecting BTC to break the $23,500 resistance level soon. While the altcoins are relatively calm today, the market could still see some more volatility in the coming days. As such, it’s important to keep an eye on the market and be prepared for any potential changes.

• According to a study conducted by Bybit and Toluna, 64% of North Americans spend less than two hours or don’t research at all before investing in cryptocurrencies.
• 15% of North Americans don’t do any research before investing in crypto, while 49% spend less than two hours.
• Boomers (those aged 56-64) tend to be more cautious, focusing on technical factors and inspecting the market a few days before diving into it.

A recent study conducted by Bybit and Toluna has revealed that most North Americans don’t take the time to do the proper research and due diligence before investing in cryptocurrencies. The survey included over 10,000 individuals, with 64% of respondents reporting that they either spent less than two hours researching the market or didn’t do any research at all before investing.

The survey results indicated that 15% of North Americans don’t do any research before investing in crypto, while 49% spend less than two hours. These numbers are especially concerning when considering the volatile and unpredictable nature of the crypto market, as even a few hours of research can be the difference between a good and bad investment.

Interestingly, the survey also found that Boomers (those aged 56-64) tend to be more cautious than other age groups when it comes to investing in crypto. Boomers are more likely to focus on technical factors and inspect the market a few days before investing, which could be attributed to the fact that they have more experience in the financial world.

These findings are a stark reminder of the importance of doing proper research before investing in anything, particularly in the crypto market. Even a few hours of research can make a huge difference, and can help you make informed decisions that lead to successful investments.

Bullet Points:
• Illicit crypto transactions in 2022 have surpassed $20 billion for the first time, according to a report by Chainanalysis.
• This marks a $2 billion increase compared to 2021, during which digital assets facilitated criminal proceedings worth $18 billion.
• Despite the significant market decline, bankruptcies, and scandals, 2022 has been a flourishing year for illicit cryptocurrency transactions.

Illicit cryptocurrency transactions have reportedly hit an all-time high in 2022, surpassing $20 billion for the first time. According to Chainalysis, a data analysis firm that focuses on tracking digital currencies, criminal transactions involving digital currencies in 2022 totaled $20.1 billion, a $2 billion increase compared to 2021.

The previous record was in 2021, when digital assets facilitated criminal proceedings worth $18 billion. Despite the significant market decline, numerous bankruptcies, and scandals, 2022 will be remembered as a flourishing year for illicit cryptocurrency transactions. This goes to show how digital currencies have grown in popularity over the years, despite their involvement in criminal activities.

Chainalysis attributes the surge in illicit cryptocurrency transactions to the proliferation of darknet markets, which are online marketplaces that are used to facilitate the exchange of stolen data and illegal services and goods. These markets have become increasingly popular in recent years, allowing criminals to easily move funds and keep their identity hidden.

Another factor that has likely contributed to the increase in illegal cryptocurrency transactions is the rise of privacy-focused cryptocurrencies, such as Monero and Zcash. These cryptocurrencies are designed to ensure user privacy and anonymity, making it difficult to trace illicit activities.

The Chainalysis report also revealed that the majority of illicit cryptocurrency transactions were related to money laundering, accounting for $6.5 billion. Other criminal activities included fraud, theft, and extortion, among others.

Cryptocurrencies have come a long way since their introduction in 2009, and the recent surge in illicit activity is a testament to that. While this is a cause for concern, it is also an indication of just how far digital currencies have come. With increased regulation and better enforcement, it is hoped that criminal activities involving cryptocurrencies will decrease in the future.