People worldwide are increasingly interested in crypto and its possibilities in the casino industry. BetFury has built a strong bridge between these areas and has been rewarded with the trust of over one and a half million people. Where do these huge numbers come from, and what makes BetFury unique?
Casino and Crypto Combination
Earning people’s trust is quite difficult. Casinos often resort to various offers for new users and retain their audience. Although, most often, this is not enough. Many experienced players know they are dealing with luck and are looking for ways to make extra money. They are starting to play with cryptocurrency and taking advantage of new lucrative opportunities.
Since crypto technologies are developing, and casinos have long become high-quality entertainment, many people combine them. They select platforms like BetFury due to some basic criteria. Special offers, a variety of games, fair algorithms, and the presence of many currencies – these things attract users the most. For example, BetFury has gathered 1.6 million players and investors under its wing thanks to unique features, the BFG token, and the excellent gaming side of the platform. More than 250,000 people are subscribed and active on BetFury’s social networks, which only confirms the trust of the entire community.
BetFury Casino and Fairness
BetFury has over 8,000 Slots from top providers such as Pragmatic Play, Evoplay, Spinomenal, NetGaming, etc. The most popular Slots are Fury Pharaoh, Aztec Magic Bonanza by BGaming, Gates of Olympus, and Sweet Bonanza by Pragmatic Play. BetFury offers more than 16 Original games with one of the highest RTP on the market (up to 99.02%). The most popular Original games are Fury Pharaoh, Fury Wild, and Space Dice. In addition, the platform has over 80 types of Sports with coefficients higher than the market average.
The result of each bet is random, which can be easily proven. BetFury has a Fairness page where every user can verify the independence of the outcome. This greatly increased confidence in the platform – if bets are honest, no one will hide the iGaming algorithms!
Cryptocurrency and Investing
Firstly, the platform provides more than 50+ cryptocurrencies for gaming. Secondly, coins and tokens can be obtained from Jackpots, Daily Tasks, and free Crypto Boxes. You can also win up to 1 BTC in Fury Wheel. Finally, the main source of income is the BFG token – the native holy grail of the platform.
Today, more than 55,000 people are BFG holders – large market participants who can influence the exchange rate. Holders can direct a vector of the whole project because they have about 51% of all BFG tokens. Regarding the total BFG emission, it reached 5 billion tokens after the end of BFG Mining. It created a fundament for value rising, and the resource received strong potential. Over 45 Monthly Burnings also affected this, which totaled more than 1,600,000,000 BFG. They help maintain the stability of the tokeconomy and the balance between holders and developers. Besides, BetFury holds grand events, which attract new users and create a competitive spirit. The most popular were Xmas Party for $1,200,000, BetFury Birthday 2022 for $1,000,000, and Crypto Rush for $800,000.
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About BetFury
BetFury is an ecosystem of crypto products for entertainment and additional income. In addition to a huge number of games and events, the platform offers profitable bonuses. Depending on the Rank, the user receives up to 25% Cashback, 10% Rakeback, and 2x FuryCharge. BetFury also offers a Referral and Affiliate program of up to 60% RevShare for influencers and users with a wide audience.
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The criminal trial of Sam “SBF” Bankman-Fried entered its third day with Adam Yedidia, FTX developer and Bankman-Fried’s former MIT roommate, testifying about the $8-billion deficit FTX disclosed before its bankruptcy.
On October 5, at the United States District Court for the Southern District of New York, Yedidia discussed the association between the cryptocurrency exchange, FTX, and Alameda Research.
This connection is crucial in allegations of fraud against SBF. Yedidia revealed a bug in FTX’s code that made Alameda’s liabilities stay constant, causing an approximately $8 billion miscalculation.
When Yedidia asked SBF about rectifying the issue, the latter estimated it would take “six months to three years.”
Under Assistant U.S. Attorney Danielle Sassoon’s interrogation, Yedidia shared that he left FTX after discovering Alameda had misused customer funds to settle its loans.
READ MORE: DOJ Asserts Lack of Crypto Regulations Doesn’t Bar Charges Against Former FTX CEO
He also noted that Bankman-Fried had instructed him to discuss FTX’s code issues using the encrypted messaging app, Signal.
The app, which has an auto-delete feature, was promoted by SBF to the entire company.
Yedidia quoted SBF emphasizing the risks of retaining messages, especially if regulators unearthed unfavorable information.
Another significant revelation was Yedidia’s confrontation with SBF in the Bahamas concerning the $8-billion discrepancy.
The ex-CEO allegedly tried to provide assurances then. Furthermore, Sassoon’s queries probed Yedidia about Bankman-Fried’s intimacy with ex-Alameda Research CEO, Caroline Ellison.
Yedidia shared an awkward conversation where SBF confessed to their physical relationship and pondered dating her, to which Yedidia responded negatively.
Ellison will reportedly testify against Bankman-Fried, based on her plea deal.
The trial saw a twist in August when Judge Lewis Kaplan canceled SBF’s bail, convinced by the prosecution’s claims that he attempted to intimidate witnesses, including Ellison, by disclosing some of her personal diaries to journalists.
Starting with jury selection on October 3, the trial is set to continue till November.
Key witnesses, including Gary Wang, an FTX co-founder, might take the stand post-Yedidia.
The prosecution might also summon ex-FTX officials like Nishad Singh and Constance Wang.
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Blockchain data analysts at Nansen have delved into the events leading up to the collapse of FTX, particularly focusing on the transfer of $4.1 billion worth of FTT tokens between FTX and Alameda Research, two companies founded by Sam Bankman-Fried.
This analysis comes as the former FTX CEO faces a barrage of charges in relation to the exchange’s downfall.
The demise of FTX was primarily triggered by initial reports highlighting that a substantial 40% chunk of Alameda’s $14.6 billion in assets was held in FTT tokens in September 2022.
However, Nansen’s findings reveal intriguing on-chain interactions between FTX and Alameda before these reports surfaced.
Between September 28 and November 1, Alameda transferred $4.1 billion worth of FTT tokens to FTX, along with numerous transactions involving US dollar-pegged stablecoins totaling $388 million.
Blockchain data further indicated that FTX possessed approximately 280 million FTT tokens, which accounted for 80% of the total FTT supply of 350 million tokens.
The data also revealed substantial FTT trading volume, amounting to billions of dollars, moving between various FTX and Alameda wallets.
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Nansen’s report highlighted that the majority of the FTT token supply, comprising company tokens and unsold non-company tokens, was locked in a three-year vesting contract controlled by an Alameda-owned wallet.
Considering that both companies controlled around 90% of the FTT token supply, Nansen suggests that they may have mutually supported each other’s balance sheets.
The report also proposes that Alameda likely sold FTT tokens over-the-counter and used them as collateral for loans from cryptocurrency lending firms, supported by historical on-chain data showing substantial inflows and outflows between FTX, Alameda, and Genesis Trading wallets, with transfer volumes reaching $1.7 billion in December 2021.
The collapse of the Terra ecosystem and the subsequent bankruptcy of Three Arrows Capital (3AC) seemingly led to liquidity problems for Alameda due to the drop in FTT’s value. This resulted in a concealed $4 billion FTT-backed loan from FTX.
Nansen’s on-chain data aligns with this theory, showing that around June 2022, Alameda sent approximately 163 million FTT tokens to FTX wallets, valued at roughly $4 billion at the time—a figure consistent with statements made by Bankman-Fried’s associates in an interview with Reuters.
Lastly, blockchain data indicates that Alameda was unable to fulfill an offer to purchase FTT tokens from Binance at $22 on November 6, following negative reports about Alameda’s financial health, as announced by Binance CEO Changpeng Zhao.
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Q3 2023 Records $700 Million in Digital Asset Losses, CertiK Report Reveals
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The third quarter of 2023 has proven to be the most financially detrimental period of the year for the cryptocurrency market, as disclosed in the quarterly report by blockchain security firm CertiK.
During this quarter, an alarming tally of $700 million in digital assets succumbed to various security breaches and incidents.
CertiK’s report documented a total of 184 security incidents transpiring in July, August, and September 2023.
These incidents resulted in crypto asset losses exceeding $699 million for the quarter, a substantial escalation compared to the $320 million loss incurred in the first quarter and the $313 million loss in the second quarter.
Private key compromises were identified as the most pernicious of these incidents, siphoning over $204 million across 14 separate cases.
A pivotal example was the Multichain incident, wherein private keys rested solely in the control of the project’s CEO, ultimately leading to a staggering $125 million loss.
This incident underscored the vulnerability posed by centralized control of private keys for businesses and resulted in the cessation of Multichain’s operations.
Beyond private key exploits, exit scams and oracle manipulation surfaced as prominent issues during the quarter.
The report highlighted a total of 93 exit scam incidents, which collectively seized more than $55 million in digital assets.
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Furthermore, 38 incidents of oracle manipulation resulted in crypto losses surpassing $16 million.
In September, the cryptocurrency world experienced its largest exploit of the year when the cross-chain protocol Mixin Network fell victim to an attack.
On September 25th, Mixin Network halted all withdrawals and deposits in the wake of the breach, which ultimately drained $200 million worth of assets from its mainnet.
CertiK’s quarterly report also cast a spotlight on the persistent threat posed by North Korea’s state-affiliated hacking group, Lazarus. The report identified Lazarus as a dominant threat actor, accountable for confirmed losses totaling at least $291 million in 2023.
The group continued its malicious activities throughout the third quarter, underscoring the ongoing challenges faced by the cryptocurrency ecosystem in combating cyber threats.
In summary, the third quarter of 2023 has been marked by unprecedented financial losses in the cryptocurrency market, driven by a range of security incidents.
The report by CertiK underscores the urgent need for enhanced security measures and vigilance within the blockchain and cryptocurrency industry to safeguard digital assets against evolving threats.
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The Brazilian government has announced a groundbreaking initiative to implement blockchain technology for digital identity, which will impact over 214 million Brazilians.
This transformative project is set to roll out initially in the states of Rio de Janeiro, Goiás, and Paraná.
Serpro, Brazil’s national data processing service, has developed a private blockchain specifically for this purpose.
According to a decree issued on September 25th, the entire nation is expected to adopt blockchain technology for identity documents by November 6th.
The president of Serpro, Alexandre Amorim, emphasized the importance of blockchain for this digital identification project.
He highlighted blockchain’s key attributes, such as immutability and decentralization, which are instrumental in safeguarding personal data and preventing fraudulent activities.
The adoption of the b-Cadastros blockchain platform significantly enhances the security and reliability of the National Identity Card project.
The government has underscored the significance of the national ID project in combating organized crime, facilitating collaboration between government sectors, simplifying access to services, and streamlining administrative records.
READ MORE: New U.S. Bill Proposes Enhanced Oversight for Cryptocurrency Transactions
This initiative mirrors a similar effort in Buenos Aires, Argentina, where residents can access identity documents through a digital wallet.
Over recent years, Brazil has been working towards a unified identity issuance system across its nearly 30 states.
The adoption of blockchain technology will foster more secure data exchange between the Federal Revenue and various government departments, enhancing overall efficiency and security.
In addition to the digital identity project, Brazil is also making strides in the realm of central bank digital currencies (CBDCs).
In August, the government provided further details about this initiative, which has been rebranded as “Drex.”
The central bank plans to expand business access to capital through a tokenization system associated with Drex.
However, concerns have been raised about the Drex code, as it could potentially allow a central authority to freeze funds or reduce balances, as noted by a local developer.
As Brazil takes pioneering steps in the realms of blockchain-based digital identity and CBDCs, the nation is poised to transform the way its citizens access services, conduct financial transactions, and protect their personal data, all while enhancing security and efficiency in government operations.
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A celebrated nonfungible token (NFT) artist, Trevor Jones, hailing from the picturesque landscapes of Scotland, has emerged as a beacon of hope for the cause of cancer treatment.
His recent efforts at an art event in the enchanting city of Edinburgh, Scotland, have managed to raise an impressive sum of nearly $140,000, equivalent to 114,000 British pounds.
This substantial contribution is intended to bolster the noble mission of Maggie’s Edinburgh, an institution wholeheartedly dedicated to providing free cancer treatment.
Trevor Jones, known for his prowess in the world of crypto art, orchestrated a charity exhibition and auction at the annual Web3 Castle Party, a vibrant gathering situated near the enchanting city of Paris.
This remarkable endeavor culminated in the remarkable donation of 114,000 pounds to Maggie’s Edinburgh, marking an unprecedented milestone in the institution’s 27-year history.
A spokesperson representing Maggie’s Edinburgh gratefully attributed this resounding success to the unwavering support and enthusiasm of the NFT art community.
The substantial funds collected through Trevor Jones’s charitable efforts are poised to be a lifeline for over 4,000 individuals grappling with the dire effects of cancer and for the local communities in need of critical support.
The exhibition, hosted within the enchanting confines of Château de Vallery near Paris, brought together a consortium of 30 gifted artists, all uniting for a common cause.
In heartfelt words, Trevor Jones shared his sentiments regarding the event, stating, “The funds raised from NFT artists will make a huge difference and will go to support services for those affected by a cancer diagnosis — patients and their families.
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This is certainly a wonderful way to remember such a beloved artist, also taken by this disease.”
The world of NFTs catapulted into mainstream consciousness in 2021, ushering in a sub-ecosystem that has played a pivotal role in numerous philanthropic endeavors.
From bolstering mental health initiatives to aiding war victims and supporting the United Nations Children’s Fund (UNICEF), NFT and cryptocurrency enthusiasts have consistently contributed to the betterment of global society.
Notably, the United States Federal Election Commission granted approval for the utilization of NFTs as a campaign fundraising incentive last year, underlining the growing acceptance and significance of these digital assets.
Major corporate entities like Coca-Cola, humanitarian organizations such as the Singapore Red Cross, and government bodies have also embraced NFTs and cryptocurrency donations as a means to fuel various philanthropic initiatives.
This fusion of technology and charity exemplifies the potential for positive change when innovation meets compassion.
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Terraform Labs co-founder Do Kwon’s legal team has filed a request with a federal court to deny the United States Securities and Exchange Commission’s (SEC) request for his interrogation in the United States regarding the Terra ecosystem’s collapse.
In a filing dated September 27, Kwon’s legal representatives argued that the SEC’s demand for questioning in the U.S. before October 13 was unfeasible due to Kwon’s current detention in Montenegro, where there is no established release or extradition timeline.
Moreover, Kwon’s defense asserted that providing written testimony to address the SEC’s inquiries would violate his right to due process under U.S. law, stating that “an order mandating something that is impossible serves no practical purpose and risks undermining judicial authority.”
Notably, Kwon’s legal team clarified that Kwon did not outright oppose a deposition but suggested that it should be conducted in Montenegro, where the Terra founder is currently out on bail.
The filing highlighted that the cut-off date for discovery in the SEC’s case against Kwon and Terraform Labs is October 13.
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Kwon’s lawyers also noted that a Montenegrin court had “informally” indicated the possibility of holding a hearing on October 13 or October 26, during which Kwon would be asked the SEC’s questions.
However, the SEC indicated that it might consider this process as “inadequate” and could pursue another deposition of Kwon after the discovery cut-off date.
The SEC had filed a lawsuit against Terraform Labs and Kwon on February 16, alleging their involvement in a “multi-billion dollar crypto asset securities fraud.”
According to the SEC, Terraform and Kwon promoted their Anchor Protocol, which at one point promised a 20% interest rate on TerraUSD (UST) deposits, while also misleading investors about Terra’s stablecoin’s stability.
Kwon and Terraform Labs’ chief financial officer, Han Chang-Joon, were arrested in Montenegro in March 2023 for allegedly using false travel documents while attempting to leave the country.
Their original passports had been confiscated in South Korea in October 2022.
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Binance, a prominent cryptocurrency exchange, has issued a call to action for its European user base, urging them to swiftly convert their euros into Tether (USDT) before the conclusion of October.
This plea comes in response to the loss of support from their banking partner, Paysafe.
On September 28th, Binance issued a notice to European Paysafe users, instructing them to convert their EUR balances within their Binance accounts to USDT by October 31st.
The reason cited was Paysafe’s unilateral decision to cease processing EUR deposits for Binance users.
Despite this setback, Binance clarified that users would still retain the ability to withdraw their EUR balances from their Binance accounts to their bank accounts, providing a semblance of relief to those affected.
The exchange emphasized the importance of Paysafe users taking preemptive measures.
Paysafe’s suspension of euro deposits occurred on September 25th, signaling the abrupt end of their support for fiat deposits and withdrawals for Binance users in Europe.
This included facilitating transactions via bank transfers within the European Union’s Single Euro Payments Area (SEPA).
Binance revealed that as a response to these developments, EUR spot trading pairs would no longer be accessible as of September 28th at 4:00 am UTC, with open orders being canceled an hour later.
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Furthermore, the usage of Binance Convert, which functions like a token swap, would also be limited for EUR transactions.
Concerns regarding these changes prompted questions from users on social media platforms such as Twitter, with some inquiring about the apparent delisting of Euro options on the exchange.
Binance’s recent struggles with regulatory compliance and the loss of banking partners have compounded its challenges in Western markets.
Paysafe had already withdrawn support for transactions in British pounds earlier in the year due to concerns raised by UK financial regulators.
Additionally, Binance announced its departure from the Netherlands in June, and Belgian authorities ordered the cessation of its services within a week.
However, it was reported on September 26th that new registrations from Belgian residents had been reopened, offering a glimmer of hope amidst the tumultuous situation.
In light of these challenges, Binance has committed to working towards integrating new fiat channels onto its platform, signaling its determination to navigate the evolving regulatory landscape in the cryptocurrency industry.
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Arkham, a blockchain intelligence platform, recently unveiled a startling revelation: cryptocurrency giant Coinbase boasts an astonishing stash of nearly 1 million Bitcoins within its wallets.
In the current volatile crypto market, these coins carry a staggering valuation of over $25 billion.
To put this revelation into perspective, Arkham’s findings indicate that Coinbase’s holdings represent approximately 5% of the entire global Bitcoin supply.
Their meticulous analysis discerned a grand total of 947,755 BTC under Coinbase’s control, while the circulating supply of Bitcoin stands at approximately 19,493,537 according to CoinGecko, a trusted source for crypto data.
What’s more, Arkham’s investigations didn’t stop at the sheer volume of holdings.
They went on to identify a staggering 36 million Bitcoin deposit and holding addresses linked to the exchange.
In particular, Arkham pointed out that Coinbase’s largest cold wallet alone shelters around 10,000 BTC.
Remarkably, the intelligence experts at Arkham speculate that Coinbase might have undisclosed Bitcoin holdings that remain off the radar, eluding identification.
However, there’s a twist in the tale. Despite Coinbase’s colossal BTC holdings, the exchange technically only “owns” a fraction of this digital goldmine.
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In fact, recent data shows that Coinbase has direct ownership of roughly 10,000 of the Bitcoins it houses, which translates to a value of approximately $200 million.
This revelation highlights the complex dynamics of cryptocurrency exchanges and their role as custodians of user assets.
The cryptocurrency community erupted in a flurry of reactions upon learning about Coinbase’s substantial Bitcoin reserves.
Some individuals took it as a warning sign, advocating for the withdrawal of BTC from centralized exchanges, cautioning against waiting until withdrawals are suspended.
Others argued that concerns surrounding the security of cold wallets make it challenging for holders to find a truly safe storage solution for their digital assets.
It’s worth noting that when it comes to corporate Bitcoin ownership, MicroStrategy, a business intelligence firm, continues to reign supreme.
As of the latest available data, MicroStrategy’s co-founder Michael Saylor proudly declared the company’s possession of a staggering 152,800 BTC, with a valuation exceeding $4 billion.
This further underscores the growing trend of institutional adoption of Bitcoin as a store of value.
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August marked a somber chapter in the world of cryptocurrencies, echoing the depths of despair seen since Bitcoin’s slump in November 2022.
Initially dismissed as a typical summer downturn, this month took a grave turn as liquidations rippled through the derivatives market, erasing 7.3% of Bitcoin’s value and 6.9% of Ether’s.
Even Grayscale’s court victory proved ephemeral as prices reverted to their August beginnings, resulting in a staggering $1 billion in liquidation losses when Bitcoin plummeted to $26,000.
Adding to the industry’s woes, venture capital (VC) investments declined by 42.7% from July to August, amassing a mere $401.9 million across 77 transactions. What had been a thriving crypto investment landscape until May this year is now dwindling.
The Cointelegraph Research “Investor Insights Report” offers a comprehensive monthly overview of the crypto realm, encompassing venture capital, derivatives, decentralized finance (DeFi), regulation, mining, and more.
VC investments in blockchain have been on the decline since Q2 2022, plummeting to a new low of $401 million in 2023.
Infrastructure projects secured 18 separate deals, accumulating $107 million in August, while centralized finance (CeFi) raised $100 million across just three deals.
These investments are typically lagging indicators, suggesting a potential resurgence when overall market sentiment shifts positively.
Yet, as Tim Draper aptly noted in a Cointelegraph Research interview, investors often miss the mark, implying that investing during the downturn may present opportunities to discover quality projects for the future bull market.
The expiration of $1.9 billion in monthly Bitcoin options on August 25 spurred market speculation.
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Although Bitcoin’s price remained relatively stable, excitement swirled when news of the SEC’s court loss against Grayscale surfaced, hinting at a future spot Bitcoin ETF.
The resulting price surge to $28,000 was short-lived, reverting to $26,000. Nonetheless, this range shows signs of market support.
Cointelegraph Research’s team boasts expertise in various fields, merging academic rigor with practical experience.
Their dedication ensures the delivery of the most precise and insightful content in the blockchain domain.
In conclusion, August brought crypto markets to their knees, with dwindling VC investments and a rollercoaster of price fluctuations.
While the landscape may appear bleak, seasoned investors see potential in these trying times, keeping an eye on quality projects for the impending bull market resurgence.
Remember, these opinions serve as general information and are not intended as specific financial advice or recommendations.
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