Shiba Inu and Rexas Finance grab eyeballs with strong performances, is now still a good time to buy?

As we head towards the end of the year, the cryptocurrency market is still demanding attention with a lot of exciting activities and surprises. Among these are Shiba Inu (SHIB) and Rexas Finance (RXS), which have recently been recognised by investors as possessing the potential to record strong growth in a short period. Owing to their robust infrastructure and great recent results, the debate about investing in these assets now has even intensified. Is now still a good time to buy?

Shiba Inu (SHIB): Riding a wave of momentum

The SHIB project at first was regarded as merely a trial run but ever since it has shown that there is a lot more than meets the eye. For instance, As of today, SHIB costs $0.0000194, with an enormous 24-hour trading volume of $2.06 billion. Even in these figures alone, one may appreciate the level of liquidity and deepening popularity of the token. In the last 7 days and the last 30 days, the SHIB growth performance has grown by 34.73% and 36.04%, as accompanied by making a bullish continuity more visible. With a Circulating Supply of 589.26 trillion tokens with a market capitalization of $11.48 Billion, SHIB is positioned as one of the most interesting tokens in the market. As a result of the price increase, those investors with the speculative mind that SHIB will increase in value by up to 1,500% saw the opening with this being the best time.

Rexas Finance (RXS): The new defi star on the rise

Although Shiba Inu remains strong in the market, Rexas Finance (RXS) is confidently growing strong in the DeFi space. During the presale stages, RXS went very well and attracted many investors who wanted to invest at early stages in what could be a major project. It is worth noting that the current price for the token is $0.05 since it is at the third stage of its presale. The project presale has attracted more than $1.85 million. With Stage 3 nearly sold out at over 70%, it’s evident that Rexas Finance has caught the attention of investors like never before.

Rexas Finance’s growth

Rexas Finance is positioning itself as the only DeFi platform that provides safe, clear, and effective financial services. With a successful presale, there is already some demonstrated interest on the part of both retail and institutional audiences in the project. Anyone registered on the platform can already earn on their crypto assets by utilizing advanced features such as yield farming, staking, and liquidity mining.

At the same time, Réxas Finance flaunts a solid governance structure as well, which enables all the holders of the tokens to participate in the governance of the platform. Potential ROI is one of the most interesting features when it comes to the RXS token. Market research indicates that investors could enjoy a 4x return before the token gets launched. Looking at the presale price of $0.05, it implies it will be $0.20 or more after launch.

This candidate is perfect for all those who plan to make quite good profits. Besides, there is the $1 million giveaway with 20 people taking home $50,000. To date, over 85,000 people have already contributed to this number and only 125 days remain in the battle.

Is now the right time to buy?

With SHIB gathering considerable appreciation as is with RXS, the question on everyone’s lips is, is it a good time to buy? In the case of the Shiba Inu token, the upward price movements, expanding market, and hot community stand to reason its upward trend might be rather persistent, more so if the wider market stays positive. This however does not excuse SHIB’s erratic fluctuation, and caution is advised for investors looking to buy in at the top. In contrast, Rexas Finance provides a more traditional subsidized opportunity with its successive presale and clear future outlook. It is positioned well as an ideal project for early backers due to its focus on DeFi and its highly interactive community. The attractive presale fee and promises of 4x returns are enough to help it seek the interest of growth-oriented investors.

Conclusion

Like many other investors, it is worth having a closer look at Shiba Inu and Rexas Finance due to the peculiarities these two have. If you are on the hunt for a well-established token that has millions of followers or you want an emerging star in the DeFi market that has a massive promise, this might be the time to think of investing in these assets.

For more information about Rexas Finance (RXS) visit the links below:

Website: https://rexas.com

Win $1 Million Giveaway: https://bit.ly/Rexas1M

Whitepaper: https://rexas.com/rexas-whitepaper.pdf

Twitter/X: https://x.com/rexasfinance

Telegram: https://t.me/rexasfinance

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IMF recommends El Salvador to limit the public’s exposure to Bitcoin

• The IMF wants El Salvador to limit “public sector exposure to Bitcoin”
• The financial agency’s remarks follow an August statement, which talked about “mitigat[ing] the risks from Bitcoin”

The International Monetary Fund (IMF) has recommended that El Salvador reduce the scope of its Bitcoin law and limit the public’s exposure to Bitcoin.

During a press conference, IMF spokesperson Julie Kozack said:

“What we have recommended is a narrowing of the scope of the Bitcoin law, strengthening the regulatory framework and oversight of the Bitcoin ecosystem, and limiting public sector exposure to Bitcoin.”

Kozack added that the IMF continues talking with El Salvador and that “addressing risks arising from Bitcoin is a key element of these discussions.”

The Central American country is no stranger to the IMF’s views on its use of Bitcoin. Notably, the issue goes back to 2021 when El Salvador made Bitcoin legal tender. Following its official adoption, the IMF released a statement in November 2021 “recommend[ing] narrowing the scope of the Bitcoin law” while “strengthening the regulation and supervision of the new payment system.”

This was again called for in January 2022 when the IMF advised El Salvador to reconsider its decision on Bitcoin as the country’s legal tender.

More recently, the IMF released a statement in August that focused on, among other things, the need to “mitigate the risks from Bitcoin.” However, the financial agency did note that while “many of the risks have not materialized, there is joint recognition that further efforts are needed to enhance transparency..” in Bitcoin.

Still committed to Bitcoin

Despite these remarks from the IMF and the continued back-and-forth, El Salvador remains unchanged in its mission to see Bitcoin rise in the country.

However, while the government is keen to see adoption numbers rise, Nayib Bukele, El Salvador’s pro-Bitcoin president, knows more work needs to be done. In a recent interview with TIME magazine, Bukele admitted that his Bitcoin strategy for El Salvador had been “net positive,” but it hasn’t witnessed the “widespread adoption” they hoped for.

Despite this, Bukele remains committed, even going so far as to buy additional Bitcoin when the price drops. The country also promised to use the profit it makes from its Bitcoin Trusts to build 20 schools as it works at making crypto more appealing to its citizens.

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0G transforms into the world’s first Decentralized AI Operating System (dAIOS)

• 0G has transitioned into a Decentralized AI Operating System (dAIOS).
• Initially, OG was a leading modular AI blockchain.
• 0G aims to democratize AI as a public good, attracting interest across various sectors.

On October 1, 2024, 0G announced a groundbreaking shift in its identity, evolving from a leading modular AI blockchain to the world’s first Decentralized AI Operating System (dAIOS).

This transformation underscores 0G’s commitment to decentralizing artificial intelligence and providing users with complete control over their data while promoting transparency, monetization, and incentive alignment.

Decentralizing AI workflows

In today’s highly centralized AI landscape, data ownership and decision-making processes often lack clarity. 0G aims to change that by leveraging blockchain technology to coordinate distributed hardware resources such as storage, computation, and data availability.

This innovative approach enables scalable, transparent, and auditable AI infrastructures that integrate seamlessly into various workflows.

The architecture of 0G comprises modular components including 0G Storage, 0G Data Availability (DA), and 0G Serving. Each of these components is designed to cater to distinct aspects of AI workflows, facilitating efficient management of vast data loads and real-time interaction with decentralized AI applications.

For instance, 0G Storage utilizes erasure coding to secure data while maintaining accessibility, all managed by incentivized miners through a unique consensus mechanism known as Proof of Random Access (PoRA).

With throughput speeds of 50 GB/second, 0G is positioned to outperform competitors by a staggering 50,000 times at 100 times lower cost. This capability makes on-chain AI applications feasible, addressing critical issues such as ownership, transparency, monetization, and alignment that plague centralized AI systems.

0G’s mission is to democratize AI

Looking ahead, 0G’s mission is to democratize AI as a public good, fostering an extensive ecosystem that encompasses various sectors including gaming and decentralized finance (DeFi).

The platform’s rapid scalability and efficient data management solutions are already attracting significant interest from key players in the Web3 space.

As 0G continues to advance its dAIOS infrastructure, it stands at the forefront of the decentralized AI revolution, committed to reshaping the future of technology and data management.

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First Telegram ICO Dogizen goes live, quickly hits $100k

Dogizen, the tap-to-earn game that’s attracting huge attention from the gaming community, has launched its highly anticipated presale.

The world’s first Telegram ICO, which brings the DOGIZ token to the over 950 million Telegram users, went live today, October 4, 2024 at 8am UTC.

Dogizen’s presale has attracted over $110k in under two hours, with DOGIZ priced at $0.00007 in the first stage.

Dogizen’s ICO: A new era for Telegram gaming

The global crypto community is growing at a breathtaking speed. However, the number of people who own crypto currently stands around 550 million.

In comparison, Telegram has more than 950 million users and the global mobile gaming community will be 1.9 billion players by 2027. Elsewhere, the T2E market cap is roughly $1.2 billion today while crypto gaming is just over $9 billion. All of these segments are forecast to experience significant growth.

Putting these numbers together suggests that Dogizen’s entry into the Telegram tap-to-earn market puts its right at the center of a potentially explosive ecosystem.

Dogizen makes it easy for ordinary users to join this nascent industry via its game. Now, with this first ICO within Telegram, Dogizen is tapping into a segment that could see it challenge and possibly outpace Hamster Kombat and Catizen among other TON-powered Telegram games.

DOGIZ is designed to add to the project’s long term success by moving Dogizen beyond the hype and speculation into a world of real utility. As well as its use in the rewards and airdrops, DOGIZ will play a big role in the Dogizen Universe.

The Dogizen Universe

Dogizen Universe is a platform that will offer several key features designed to empower both developers and creators as well as rewards for users.

Within the Dogizen Universe, a Developer SDK will allow for the creation and launch of gaming apps, with monetisation helping catalyze further growth.

A Launchpad and an arcade offering a central hub for everything Telegram gaming. Meanwhile, the ecosystem will benefit from a revenue-sharing opportunity from in-game ads and partnerships.

The Dogizen Universe, as the project’s whitepaper indicates, therefore envisions a whole economic ecosystem. Devs will be able to create and earn as gamers scoop in-game rewards while DOGIZ holders will benefit from the revenue-share model.

The DOGIZ presale is the first phase of this growth and innovation and early adopters will play a big role in bringing it to reality. But it also means an early entry for ICO participants as the tap-to-earn becomes one of crypto’s big plays.

Notably, all major TON blockchain tokens on Telegram have listed on Binance, the world’s largest cryptocurrency exchange. This includes Notcoin, Hamster Kombat, and Catizen – the top 3 T2E projects by market cap. Dogizen, with 1.3 million players and growing, could be the next to list on the exchange.

Learn more about Dogizen here.

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Alabama grants Transak a Money Transmitter License (MTL)

• Transak secures its first Money Transmitter License (MTL) in Alabama.
• The license boosts security, speed, and compliance for US cryptocurrency services.
• Transak targets further state licenses as it enhances its Web3 payments infrastructure.

On October 3, 2024, Transak USA LLC achieved a significant milestone by securing its first Money Transmitter License (MTL) from the Alabama Securities Commission.

This regulatory approval positions Transak as a fully licensed financial institution in the state, a key step in its mission to provide secure and accessible cryptocurrency services across the United States.

Transak expanding its foothold in the US

The Alabama MTL solidifies Transak’s commitment to regulatory compliance, underscoring the company’s efforts to build a secure and transparent infrastructure for crypto transactions in the US.

With cryptocurrency purchases already enabled in 46 states, the company is actively working to secure additional licenses across the country. This proactive approach highlights Transak’s determination to make cryptocurrency widely accessible and compliant with stringent financial regulations.

As a registered Money Service Business with FinCEN, Transak’s new license is a significant trust signal for its users. It allows the company to provide enhanced security, faster transactions, and a more seamless user experience for crypto purchases in Alabama. The move also benefits decentralized platforms integrated with Transak’s services, enabling them to offer their users a smoother and more compliant crypto purchasing experience.

Bryan Keane, the Compliance Officer at Transak, remarked, “Obtaining the Money Transmitter License in Alabama showcases our commitment to compliance and our mission to make cryptocurrency accessible and secure for everyone.”

In the same breath, Sami Start, the CEO of Transak, emphasized the importance of the US market, stating, “Securing state licenses like this one is essential to delivering the best possible services here.”

With over 5.7 million users across 160 countries, Transak continues to expand its presence as the largest Web3 payments infrastructure provider. Headquartered in Miami, with additional offices and tech hubs globally, Transak remains focused on obtaining more state licenses in the US, ensuring its users enjoy an increasingly reliable and legally compliant crypto experience.

The Alabama MTL marks a major step forward for Transak as it strengthens its foothold in one of the world’s most regulated and lucrative markets.

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CleanSpark mined 493 Bitcoin in September

• CleanSpark also increased its hashrate by 187% between September 30, 2023 and September, 30, 2024.
• Expansion and acquisitions are crucial for the organic growth.

Bitcoin miner CleanSpark mined a total of 493 BTC in September, according to details in an unaudited update published on Oct. 4.

This brought the company’s total bitcoin mined year-to-end of September to 5,079.

Moreover, total BTC mined in FY2024 rose to 7,098. With these figures, the total Bitcoin treasury holdings rose to 8,049 as of Sept. 30. While the increase marked a 258% spike over the past year as of the end of Sept., CleanSpark noted it sold 2.5 BTC during the month.

Another year, another proven track record. 🏎️🛣️🏁$CLSK finished FY2024 with over 8,000 #bitcoin in treasury, reaching 27.6 EH/s in hashrate and 552 MW of operational capacity at wholly-owned sites. These are increases of 258%, 187% and 132% from FY2023 respectively.

Despite… pic.twitter.com/alcSQ6BIFw

— CleanSpark Inc. (@CleanSpark_Inc) October 3, 2024

Hashrate jumped to 27.6 EH/s

CleanSpark, a publicly-traded miner whose share price also rose significantly in the past year, also announced a surge in its hashrate.

As of September 30, 2024, CleanSpark’s hashrate stood at 27.6 EH/s – up from 9.6 EH/s and indicating a one year increase of 187%. The company added 5 EH/s to its capacity in September.

In a comment, CleanSpark CEO Zach Bradford said:

“During the past year, we grew our hashrate from 9.6 EH/s to 27.6 EH/s, or 187%, with 5 EH/s coming online just during the month of September. The Company executed its plan to strategically diversify its portfolio across three new states and completed multiple expansions at existing data centers.”

What helped CleanSpark to grow its hashrate?

Growth was down to CleanSpark getting through the pre-halving and post-halving period and the closure of multiple acquisitions. It includes the GRIID Infrastructure deal and expansion to new sites in the US.

With the expansion efforts, and emerging from Hurricane Helene relatively unscathed means further hashrate growth. According to Bradford, CleanSpark could hit 30 EH/s by the end of October 2024 and forecast 50 EH/s in 2025.

The Bitcoin miner released its unaudited update as BTC price struggled amid negative sentiment around geopolitical chaos in the Middle East. At the time of writing, the flagship cryptocurrency traded around $60,663, down 1.5% in the past 24 hours and -7.3% over the past week.

CLSK, on the other hand, changed hands at $8.58, about 2.5% down on the day. The crypto stock was down 17.7% in the past five days.

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Visa unveils tokenized digital asset platform

• Visa plans to help banks explore blockchain technology and smart contracts with fiat-backed tokens.
• The digital payments giant has unveiled a tokenization platform for this – called Visa Tokenized Asset Platform (VTAP).
• BBVA plans to launch its own stablecoin in partnership with Visa in 2025.

Visa has launched a new service aimed at helping financial institutions with the issuance and management of fiat-backed tokens.

The company announced its blockchain project dubbed Visa Tokenized Asset Platform (VTAP) on Oct. 3, and will allow partners to create and trial various tokenized assets.

VTAP offers a B2B solution which banks can leverage to integrate blockchain technology to bring fiat currencies on-chain. The venture will allow for the creation of stablecoins and other fiat-backed tokens.

“Visa has been at the forefront of digital payments for nearly sixty years, and with the introduction of VTAP, we are once again setting the pace for the industry,” Vanessa Colella, global head of innovation and digital partnerships at Visa, said in a statement.

BBVA to launch Visa-backed stablecoin

According to Visa, banking giant BBVA is set to tap into VTAP for its stablecoin project expected to launch in 2025.

BBVA has explored the VTAP sandbox throughout 2024, testing core functionalities ahead of a live pilot of its stablecoin in 2025. The launch will be on the Ethereum network.

“This collaboration marks a significant milestone in our exploration of the potential of blockchain technology and will ultimately help enable us to broaden our banking services and expand the market with new financial solutions,” said Francisco Maroto, head of blockchain and digital assets at BBVA.

With VTAP, banks can leverage stablecoins within smart contracts, allowing for the digitization and automation of workflows. This will also help power adoption of real-world assets, with banks for instance using the technology to manage complex lines of credit or smart contracts-enabled payments.

Bank customers can also utilize fiat-backed tokens to buy tokenized commodities or treasuries.

Such products include the Franklin Templeton fund FOBXX, which the asset manager just expanded to Aptos.

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Crypto.com achieves PCI DSS v4.0 certification

• com achieved PCI DSS v4.0 certification on October 3, 2024.
• This certification enhances flexibility in addressing evolving security threats.
• com remains committed to privacy, security, and compliance leadership.

Crypto.com has marked a significant milestone by becoming one of the first cryptocurrency platforms to achieve the Payment Card Industry Data Security Standard (PCI DSS) v4.0 certification according to an announcement made on October 3, 2024.

This certification is a testament to the company’s commitment to upholding the highest security and data privacy standards.

The upgrade to PCI DSS v4.0, which retains the core 12 security requirements while integrating new technologies and enhanced validation methods, reflects the evolving demands of the payment industry. It introduces greater flexibility and adaptability in addressing security threats.

Though the industry deadline for v4.0 certification is March 2025, Crypto.com’s early compliance demonstrates its proactive approach to security.

Jason Lau, Chief Information Security Officer at Crypto.com, emphasized that this achievement reinforces the company’s dedication to building trust with its customers. “Achieving PCI DSS v4.0 certification further solidifies Crypto.com’s unwavering commitment to security and data privacy by design,” Lau stated.

The company’s CEO, Kris Marszalek, echoed these sentiments, expressing pride in the certification as part of Crypto.com’s larger mission to maintain the highest standards of security, privacy, and compliance. “We will continue investing aggressively in building the most trusted platform for our users,” he added.

Crypto.com has previously attained multiple certifications, including SOC2 Type 2, ISO 27017, ISO 27018, ISO 27701, and ISO 22301. By continually achieving stringent regulatory standards, the platform strengthens its reputation as a leader in security within the cryptocurrency sector.

Founded in 2016, Crypto.com serves over 100 million customers globally and remains dedicated to driving cryptocurrency adoption through innovation and a firm focus on user trust and security.

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Telegram tap-to-earn gaming community fired up as Dogizen presale launches tomorrow

• Dogizen presale launches tomorrow, opening up investment into a Telegram game combining social interaction with a tap-to-earn model.
• The presale offers exclusive benefits, with plans for a Developer SDK.
• Dogizen players will earn Treatz by exploring, completing challenges, and can earn passively.

The excitement in the Telegram gaming community is palpable as Dogizen prepares to launch the first Telegram ICO tomorrow.

This innovative tap-to-earn gaming platform combines social interaction and rewards, allowing users to engage with friends while embarking on adventures with their digital canine companions. With its unique features and a vibrant community, Dogizen is set to redefine mobile gaming on Telegram, paving the way for a new era in gaming experiences.

The rise of Telegram tap-to-earn gaming

Telegram tap-to-earn gaming has emerged as a transformative model within the mobile gaming landscape. This approach allows players to earn rewards simply by participating in gameplay, creating a more engaging and interactive experience.

Unlike traditional gaming models, where monetary investment is often required to progress, tap-to-earn enables players to earn in-game currency like Treatz in Dogizen, while having fun with friends.

The surge in popularity of this gaming model can be attributed to its accessibility. With a large audience on Telegram, which boasts over 900 million users. Dogizen leverages this platform to attract both seasoned gamers and newcomers alike.

The intuitive interface and social features embedded within the Dogizen platform ensure a seamless experience, encouraging users to invite friends and engage in shared adventures. The upcoming presale offers a unique opportunity for early adopters to become part of this burgeoning community.

A unique gaming experience with Dogizen

Dogizen sets itself apart from other gaming platforms through its unique blend of exploration, social interaction, and earning potential. Players will not just be passive participants; they will become integral members of a community driven by shared goals.

The game encourages users to explore diverse locations, complete challenges, and collect Treatz, which can be spent on upgrades or saved for future rewards.

The Dogizen experience is further enriched by the opportunity for passive income and idle earnings. Players can earn Treatz even when they are not actively playing, making the gaming experience rewarding and continuous.

This innovative mechanism allows users to engage with the platform at their own pace, fostering a sense of belonging and community that is often missing in traditional gaming environments.

At the heart of Dogizen’s success lies its commitment to building a thriving community. With an already established user base of over 1 million players, Dogizen fosters a collaborative environment where players can connect, refer new users, and embark on adventures together.

The platform encourages social interactions, making it more than just a game; it becomes a space for friendships and shared experiences.

The upcoming presale is not merely a fundraising event; it’s an opportunity for the community to rally together and support a project that prioritizes user engagement and satisfaction.

Early supporters can expect to be rewarded with exclusive benefits, such as the Dogiz airdrop for Treatz holders, incentivizing participation and commitment to the platform.

What next after the Dogizen presale?

As Dogizen embarks on this exciting journey, the roadmap for future development is ambitious and promising.

After the presale ends, the project will launch the Dogiz Token on exchanges, allowing players to engage further with the ecosystem.

Subsequent phases will introduce the Developer SDK, enabling developers to create and launch games seamlessly within the Dogizen Universe.

With plans for an innovative ads platform and revenue-sharing opportunities for Dogiz holders, the future looks bright for both developers and players. The platform aims to transform the advertising landscape by integrating meaningful brand interactions directly into the gaming experience, ensuring that players receive value while engaging with the brands they love.

As the Dogizen presale launches tomorrow, the tap-to-earn gaming community on Telegram is fired up with anticipation. With its unique features, commitment to community engagement, and an ambitious roadmap, Dogizen is poised to redefine mobile gaming.

Dogizen investors and future gamers can look forward to an exciting journey filled with rewards, exploration, and lasting connections in the Dogizen Universe.

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DEGEN surges 160% after Coinbase adds token to listing roadmap

• Degen rose by more than 160% in 24 hours after Coinbase announced trading support for the Base token.
• io.net token will also list on Coinbase, but its price fell amid a crypto downturn on geopolitical events.

Degen (DEGEN) rose sharply after US-based cryptocurrency exchange Coinbase announced it had added DEGEN to its listing roadmap.

Per market data on CoinGecko, DEGEN skyrocketed from lows of $0.004 to near $0.012 after the news. In terms of 24-hour gains, the meme coin’s price spiked more than 160%, pushing the Degen token’s value to levels last seen in June this year.

DEGEN to list on Coinbase

Degen, a community token and blockchain for the decentralised social platform Farcaster, will be added to Coinbase for spot trading.

GM Degens! Huge news—$DEGEN is getting listed on Coinbase Spot trading, becoming the 4th @base token. This journey’s been wild, and we’ve got plenty ahead. Big thanks to the Degen and Base fam for sticking with us. Let’s keep building! https://t.co/m9j1FcTYMs

— Degen 🎩 (@degentokenbase) October 1, 2024

Coinbase unveiled its listing roadmap in July 2022, noting the move to be a way of ensuring transparency. The exchange also uses this to prevent front-running, with only assets Coinbase has decided to list now added to the roadmap.

Degen launched as a reward token for the community on Farcaster.

While its adoption as a meme coin helped create a strong user base, the project has increasingly attracted fresh interest amid rising developer activity and content creation.

The DEGEN token currently trades on platforms such as OKX, Bybit, KuCoin and Gate.io among others. Its price has increased by more than 330% over the past 30 days. However, it remains significantly off its all-time high above $0.064 reached in March 2024.

Degen (DEGEN) token price chart on CoinMarketCap

Coinbase to also list io.net

io.net (IO) is the other token that Coinbase has announced trading support for with its addition to the roadmap. However, while DEGEN rose sharply, IO traded lower alongside other cryptocurrencies amid the geopolitical uncertainty in the Middle East.

The io.net is a decentralised AI computing platform built on Solana.

While the IO price is down 14% in the past 24 hours, it’s largely bullish after rallying over the past month. Currently, its price is over 25% higher in the past 30 days, with most of the gains coming in late September after io.net announced a partnership with Phala Network.

IO price hovered around $1.78.

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Skygate Token Launches Presale, Aims to Digitalize Global Aviation

Salzburg, Austria, October 1st, 2024, Chainwire

The Skygate Token is positioned as a utility-focused cryptocurrency designed to offer real-world applications in the aviation sector, moving beyond the realm of speculative assets. With a structured financing model, clear development strategies, and practical use cases, Skygate Token aims to contribute to the digital transformation of aviation.

Who is Behind the Skygate Token?

The Skygate Token is issued by Skygate Network Holding GmbH, a company based in Salzburg, Austria. The company is led by CEO Gerhard Wimmer, who brings over 27 years of experience in the aviation industry. Wimmer is supported by a team of specialists in finance, marketing, and IT. Strategic partnerships with various companies are also crucial to the project’s development, as well as key advisors such as the former Austrian Vice-Chancellor and Minister of Transport.

Skygate Network has spent several years developing and testing its technologies in a model operation in Salzburg. According to the company, this model has already generated millions in revenue, showcasing the company’s potential to introduce innovative solutions to the aviation sector.

The Skygate Project: Digitalizing Aviation

The main goal of the Skygate project is to digitalize the global aviation industry through Extended Reality (XR) technologies. This includes Augmented Reality (AR), Virtual Reality (VR), and Mixed Reality (MR), aiming to guide the aviation sector into a new era of digital transformation. The project envisions the creation of a digital 3D VR world where commercial and private users can access services and products globally.

The Skygate Token at the Core of the Ecosystem

The Skygate Token is designed to be the primary currency within the Skygate digital ecosystem. With a total supply of 10 billion tokens, the presale will take place in multiple phases. In the first phase of the presale, the token is offered at a price of only €0.005, which represents a 95% discount on the listing price. Early investors stand to benefit from significant price advantages.

One distinctive feature of the Skygate Token is its planned token burn strategy. The company plans to regularly burn tokens to reduce the total supply in circulation, leading to a potential price increase as demand grows while supply diminishes.

Benefits for the Skygate Community

The Skygate community is central to the project. Out of the total 10 billion tokens, 7 billion are allocated to benefit the community. A reward and bonus program provides incentives for users to actively participate in the development and spread of the Skygate Token. Users can enjoy rewards, airdrops, and exclusive benefits as they support the company’s vision.

Additionally, investors can take advantage of the growth potential. Tokens allocated to the team and partners are locked for several years, ensuring sustainable price development and preventing a rapid sell-off.

The Roadmap: A Clear Path Forward

Since 2020, Skygate has taken numerous steps to prepare for the project launch. These include developing a comprehensive concept, conducting security reviews, and submitting the project to the Financial Market Authority. The official presale phase started on September 15, 2024, and tokens have been distributed to investors since then. After the presale, the public sale phase will begin, granting token holders access to various services from Skygate. As the project progresses, new features will be rolled out, and strategic alliances with technology providers will be established. All services will be fully accessible upon project completion.

Ongoing Commitment to Growth

Skygate Network has committed to reinvesting 50% of its annual profits back into the project and its ecosystem. As part of its long-term strategy, Skygate will continue to expand its services to the aviation industry, particularly airlines. This approach is aimed at driving demand for the token within the ecosystem.

About Skygate Network Holding GmbH

Skygate Network Holding GmbH, based in Salzburg, Austria, is focused on digitalizing the aviation industry using Extended Reality (XR) technologies. Led by CEO Gerhard Wimmer, with over 27 years of aviation experience, the company has developed the Skygate Token as the core currency of its digital ecosystem. Skygate is committed to innovation, strategic partnerships, and sustainable growth within the aviation sector.

For more information, users can visit www.skygatetoken.com.

Contact

CEO
Gerhard Wimmer
Skygate Network GmbH
info@skygatetoken.at

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Ripple secures in-principle approval to expand services in the UAE

• Ripple announced the in-principle license from the Dubai Financial Services Authority (DFSA) on Tuesday, Oct. 1.
• DFSA’s approval could see Ripple unlock its end-to-end payment services in the UAE as well as boost overall Middle East presence.

Ripple announced on October 1 that the blockchain company has hit another regulatory milestone in the United Arab Emirates.

Specifically, the Dubai Financial Services Authority (DFSA) has granted Ripple an in-principle approval, allowing the company to expand its services and strengthen its presence in the UAE and broader Middle East.

The approval means Ripple can now offer its services across other locations in the country, expanding from the Dubai International Financial Centre (DIFC).

“This is a pivotal moment for Ripple’s operations in the Middle East. The DFSA is a globally renowned independent regulator with a rigorous regulatory process and we are delighted to have received their in-principal approval,” Reece Merrick, Ripple managing director, Middle East and Africa, said in a statement.

According to Merrick, more than 20% of Ripple’s global user base is in the UAE, and the expansion will help bring products and services to a growing number of people and businesses. Among key developments will be Ripple’s offering of its cross-border payment solutions, including the Ripple Payments Direct, or RPD service.

Ripple’s regulatory compliance

The milestone sets Ripple, the company behind the XRP cryptocurrency, on the path to becoming the first blockchain-based payments provider to secure a license from the DFSA.

UAE is the regional MENA and South Asia headquarter for Ripple, which the company established in Dubai in 2020.

But apart from regulatory compliance in the UAE, added to with this new in-principle license, Ripple has a broader traction in this quest. The company has secured over 55 licenses across various jurisdictions across the world, including the New York Department of Financial Services (NYDFS), the Monetary Authority of Singapore (MAS) and the Central Bank of Ireland (CBI).

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Gemini announces exit from the Canadian market

• Gemini exits Canadian market, citing strict regulations and compliance costs.
• Users must withdraw funds by Dec. 31 as all accounts will close by that date.
• Canada’s new crypto rules, set for 2026, further restrict decentralized markets.

Crypto exchange Gemini has become the latest platform to withdraw from the Canadian market, following in the footsteps of major players like Binance, OKX, dYdX, and Bybit.

Gemini’s departure highlights the challenges that crypto companies face in navigating Canada’s increasingly stringent regulatory landscape.

The exchange’s decision marks a significant shift, as Gemini had previously described Canada as a critical part of its international expansion strategy.

Why are crypto platforms exiting Canada?

Gemini’s move follows a broader trend of crypto platforms exiting Canada due to rising compliance costs and complex regulatory hurdles.

Canadian authorities have been tightening their grip on the crypto market since February 2023, when the Canadian Securities Administrators (CSA) required all crypto exchanges operating in the country to sign legally binding pre-registration agreements. These agreements came on top of existing restrictions, such as the prohibition of margin trading for Canadian users and limitations on offering stablecoins, which many exchanges found challenging to adhere to.

Though Gemini initially complied with the new regulations by submitting a pre-registration undertaking in April 2023, the evolving regulatory climate has proven too burdensome. The exchange’s exit echoes that of Binance and OKX, which similarly cited the high cost and complexity of complying with Canada’s increasingly restrictive rules.

Looking ahead, the regulatory environment for crypto in Canada is set to become even more stringent. In April 2024, the Canadian government introduced the Crypto-Asset Reporting Framework, which will come into effect in 2026.

This framework will require crypto service providers to report detailed transaction data annually, including sensitive client information such as residential addresses and taxpayer identification numbers.

Gemini Canadian users have 90 days to withdraw funds

Gemini issued a formal notice to its Canadian users on September 30, urging them to withdraw their assets by December 31, 2024.

The Winklevoss-founded exchange has provided customers with a 90-day window to move both their cryptocurrency holdings and fiat balances before all Canadian accounts are closed.

As Gemini bows out, Canadian users are left with fewer options to access decentralized markets, while global exchanges like Coinbase, Kraken, and Crypto.com continue to operate within the country’s borders.

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