Altcoin News by Thebittimes.Com

Zug, Switzerland, November 21st, 2023, Chainwire Future3 Campus, in partnership with The Open Network (TON) Foundation, has today announced the launch of The TON Bootcamp, an incubation program to foster mini-app development within TON’s Web3 eco system in Telegram. The 15 selected teams may receive support for integrating into TON’s Web3 eco system and stand a chance to get up to USD $500,000 in funding from Future3 Campus. Applications to be selected for The TON Bootcamp are open until December 18, 2023. The TON Bootcamp is a Web2.5 incubator, empowering developers to create mini-apps that bridge the Web2 experience with the decentralized benefits of Web3. The program will run for five months and offer selected participants a chance to receive significant funding for their projects. The Bootcamp is focused on supporting projects building real-world payment and gaming solutions to seamlessly integrate into TON’s flourishing Web3 eco syst...

Join Our Telegram channel to stay up to date on breaking news coverage The abrupt implosion of the FTX cryptocurrency exchange has shook the industry and beyond. The company’s financial difficulties surprised many, as the company and its CEO and founder Sam Bankman-Fried had emerged as the saviors of many struggling crypto businesses in the summer. They had bailed out prominent crypto lenders such as BlockFi, Voyager Digital, Celsius Network, and Robinhood (HOOD) – Get Free Report, which had experienced a liquidity crisis as a result of the abrupt collapse of sister cryptocurrencies Luna and UST, or TerraUSD. What no one seemed to realize was that FTX’s business practices and balance sheet were not what Bankman-Fried and the company claimed. As a cryptocurrency exchange, FTX fulfilled orders for their clients, accepting cash and purchasing crypto currencies on their behalf. FTX served as a custodian, holding the crypto currencies of its clients. FTX then used...

Join Our Telegram channel to stay up to date on breaking news coverage When Lebanese first heard about bitcoin, years ago, many thought it was a hoax.  By 2019, however, as Lebanon faced a financial crisis as a result of decades of costly wars and poor spending decisions, a decentralized and borderless digital currency operating outside the reach of bankers and politicians sounded like salvation. “Not everyone believes the banks are bankrupt, but the reality is that they are,” said Ray Hindi, CEO of a Zurich-based digital asset management firm. “The situation hasn’t changed much since 2019.” Banks restricted withdrawals, and deposits became IOUs. “You could have taken out your money with a 15% haircut, then 35%, and now we’re at 85%,” Hindi, who was born and raised in Lebanon before leaving at the age of 19, explained. “People still look at their bank statements and believe they’ll be made whole at some point,...