Non-Fungible Token Marketplace for Customers Based in US Launched by FTX Exchange 0 20

Since the year 2020 turned into the year 2021, the non-fungible token (NFT) ecosystem has experienced a significant rise in demand and supply. This is the reason why most of the major cryptocurrency trading exchanges have now started adopting non-fungible tokens.

At present, the growth rate of the non-fungible token industry is parabolic and it is one of the most profitable spaces within the crypto-verse. The latest cryptocurrency exchange that has decided to adopt and explore non-fungible tokens is FTX.

FTX is currently ranked as one of the largest and top cryptocurrency exchanges in the entire cryptocurrency industry. It is making itself known globally by adding more and more jurisdictions and the recent addition is The Bahamas.

The exchange is determined that its users not only get to profit/benefit from cryptocurrencies but also from non-fungible tokens. Therefore, the exchange has announced that it is adopting non-fungible token technology and will be adding its innovation into the sector.

Following the announcement of adopting non-fungible token technology, the FTX exchange has revealed that it will soon be opening up a marketplace for non-fungible tokens. The exchange has clarified that for now, the NFT marketplace would only be accessible for users based in the United State.

Through the non-fungible token marketplace, the users based in the United States will be able to benefit a lot from their new service. The users will reportedly be abler to mint non-fungible tokens. They would also be able to buy the non-fungible tokens from the marketplace, as well as sell non-fungible tokens to earn profits.

One of the best features they will be able to offer their users is the ability to perform cross-chain trades for the non-fungible tokens. For now, the blockchains the users will be able to interact with include Solana and Ethereum blockchains.

FTX has announced that in the upcoming days, it will be launching the depositing and withdrawal facilities through the NFT marketplace. Once the depositing feature has been launched, the users will be able to deposit external non-fungible tokens into the FTX NFT marketplace.

In order to demonstrate its new market for the users, FTX has even released an image that is in the word-art style. There is no particular reason that the particular word-art serves, but only reads “Test”.

This is the first-ever NFT that will be sold through the FTX NFT marketplace. So far, the bid on the particular image has been set to $1,100.

According to the majority of the high-profile investors and the operatives from the cryptocurrency industry, NFT’s growth is just the beginning. The sector has caught the attention of the crypto-industry and mainstream sector alike. Therefore, the sector is only going to grow larger with time and make its name known throughout the world.

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Sentenced ‘Bitcoin Czar’ Named Among Pandora Papers 0 8

Juts couple of days ago ICIJ published its new research about some of the world’s top leaders’ and influential peoples’ stories of financial misconducts.  The reports by ICIJ also argued that “Bitcoin czar” may have been the member of the Carbanak hacking group. The International Consortium of Investigation Journalists (ICIJ) have also discussed the crypto criminal in their new leaks called “Pandora Papers.’

The ICIJ’s Pandora Papers have claimed “Bitcoin czar” a famous criminal who masterminded the largest “cyberheist in history” own the offshore assets. However, the Pandora Papers also said that those offshore assets being managed by a third independent firm.

Pandora Papers have exposed how some of the world’s most influential people have hidden their wealth. Where those papers have exposed world’s top 300 politicians and businessmen. The report has also discussed the operations of hacker group Carbanak. The cybergang according to the reports have stolen around $1.24 billion from financial institutes and the digital crypto exchnages as well. The network operated over more than 100 countries from 2013 to 2017.

However, the most famous arrest of this network’s members came in 2018, when the authorities finally managed to arrest the master mind Denis Tokarenko (also known as Denis Katana), and many people have voiced that Pandora Papers indirectly called his name.

The reports published by the Bloomberg’s business research and network team concluded that at the time of Tokarenko’s arrest back in the month of March 2018, the Spanish National Police recovered 15,000 Bitcoin (BTC), worth $162 million from his possession. This is history’s biggest crypto scam till today.

The illegal approach adopted by the Tokarenko did not just end here. The Chief inspector of the Spanish police, Carlos Yuste also told the sources that Tokarenko also purchased a bitcoin mining system in China. He used his mining system to launder his illegal Bitcoins as well.

Despite the fact that Pandora Papers have not directly covered the crypto thefts and other cyber-attacks, but these papers have partially included the incidents from digital trading as well. This leads to the future possibility the ICICJ might decided to open up about the digital thefts and cybercrimes incidents as well.

But the fact is that Pandora Papers have provide quite the useful insight about the some of world’s most famous cyber-attacks on the recent time. If authorities decided to put investigate these facts, then there might be multiple people who find them behind the bar. The primary issue regarding the cyber-attacks culprits is that majority of them gets away because of the lack of the profs. The only notable person who was sent to prison on committing a cybercrime was former Rizal Commercial Banking Corporation employee Maia Santos Deguito.

Uzbekistani Citizens Warned Against the Use of Unauthorized Exchanges 0 9

The government of Uzbekistan has been quite proactive when it comes to the use of crypto exchanges. As most of you may know, there has been a fair bit of commotion in the crypto world and most of it exists because of the regulations being implemented by a large number of governments. While some people are not in the favor of these regulations, many people, including a large number of crypto experts believe that they will be quite handy.

This is because regulating crypto will ensure that people don’t have to worry about false transactions, scams, frauds, and a large number of other issues prevalent in the world of crypto. The government of Uzbekistan has been especially quite determined to eliminate crypto-related corruption in the country. One of the first steps that the country has taken is to make sure that people in the country steer clear from making transactions with unauthorized exchanges.

For those who don’t know, there are loads and loads of exchanges operating in Uzbekistan and other countries in the world. Sure, not all of them are unauthorized but you will be surprised to learn that a large number of them happen to not be authorized.  What makes things so complicated is the fact that knowing which exchange is legit and which one isn’t can be quite challenging. This is because most exchanges, if not all, look one in the same and it is difficult for people to tell them apart.

This is one of the main reasons why the government of Uzbekistan has stepped in and tried to take matters into its own hands. One of the main aims of this exchange is to make sure that people do not have to worry about checking which exchange they would choose to invest crypto in. Instead, the government has been helping people quite a bit by creating teams just for the purpose of checking these exchanges.

In addition to that, the Uzbekistani government has also issued a notice against unauthorized crypto exchanges, stating that using them could result in serious action. Upon checking some of the exchanges operating in Uzbekistan, it was learned that there were more than 5 of them that did not have their own offices in the country. Instead, research teams found out, after a thorough investigation that these unauthorized exchanges were operating from somewhere else.

This was enough to suggest that the government is indeed hard at work to steer clear from crypto corruption in the country. Because of this, governments of other countries have also become quite proactive in order to eliminate any sort of corruption to keep investors safe.

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