MELEGA

<p>Welcome to the latest edition of MelegaSwap&#39;s weekly cryptocurrency news roundup. In our usual roundup, we bring you up to speed on the latest happenings in the dynamic and ever-changing world of digital currencies. This week, which spans from April 16th to 22nd, 2023, has been an exhilarating time for cryptocurrency enthusiasts, as the long-standing and enigmatic crypto regulator has faced a contentious session from United States lawmakers.</p><p>However, Bitcoin (BTC) experienced a significant drop below the $30,000 mark, while <a href="https://www.coinlore.com/coin/ethereum" rel="noopener noreferrer nofollow">ether (ETH)</a> similarly plummeted below its $2,000 threshold, which had only been achieved late last week. These drops can be attributed to a range of regulatory uncertainties and other fundamental factors.</p><p>This week&#39;s updates include the launch of a new Euro-pegged stablecoin, the comprehensive crypto legislation adopted by the European Parliament, the forthcoming release of Nike&#39;s sneakers with non-fungible tokens (NFT), and the possibility of Gary Gensler, the Chair of the American SEC and a skeptic of cryptocurrency, being removed from his position.</p><p>As we continue to stay ahead of the curve, we are delighted to bring you all the latest developments every step of the way. Without further ado, let&#39;s dive in!</p><h2 id="header-0">TOP STORIES THIS WEEK (APRIL 16-22 2023)</h2><p>● Societe Generale-Forge Joins the Stablecoin Race with Euro-Backed Digital Asset</p><p>● EU Sets Standard Crypto Regulations with MiCA</p><p>● Nike launches virtual sneaker collection &#34;Our Force 1&#34; as NFTs on .Swoosh platform.</p><p>● Tribe Capital is reportedly considering reviving FTX</p><p>● Bittrex and its former CEO charged by SEC for unregistered operations</p><p>● Silvergate Bank in trouble as it faces class-action suit and multiple lawsuits</p><h3 id="societe-generale-forge-joins-the-stablecoin-race-with-euro-backed-digital-asset">Societe Generale-Forge Joins the Stablecoin Race with Euro-Backed Digital Asset</h3><p>Societe Generale-Forge (SG-Forge), a subsidiary of French bank Societe Generale, has launched<a href="https://www.sgforge.com/societe-generale-forge-launches-coinvertible-the-first-institutional-stablecoin-deployed-on-a-public-blockchain/" rel="noopener noreferrer nofollow"> EUR CoinVertible</a>, a new euro-pegged stablecoin for institutional clients. The Ethereum blockchain-based stablecoin, with the ticker symbol EURCV, will only be available to Societe Generale&#39;s investors who have undergone Know Your Customer and Anti-Money Laundering procedures.</p><p>However, the coin&#39;s centralized nature and &#34;worst code&#34; assessment has<a href="https://twitter.com/alpeh_v/status/1649043491648081920?s&#61;20" rel="noopener noreferrer nofollow"> drawn criticism</a> from researchers who analyzed its smart contract code. ERC-20 transfers of the stablecoin require authorization from an in-house registrar, which some experts argue is incompatible with the blockchain&#39;s decentralized ethics. Each transfer must be authorized in a separate ETH transaction submitted by the centralized registrar, causing concerns about the coin&#39;s security and potential impact on the broader cryptocurrency market.</p><h3 id="eu-sets-standard-crypto-regulations-with-mica">EU Sets Standard Crypto Regulations with MiCA</h3><p>The European Parliament <a href="https://www.cnbc.com/2023/04/20/eu-lawmakers-approve-worlds-first-comprehensive-crypto-regulation.html" rel="noopener noreferrer nofollow">has approved</a> the Markets in Crypto-Assets Act (MiCA), marking a significant milestone for the crypto industry. This new legislation aims to establish clear regulations and harmonized rules for crypto assets at the EU level, providing legal certainty for the industry and investors.</p><p>Moreover, the regulation will establish guidelines for digital asset token issuers&#39; operation, structure, and governance, as well as offer rules on transparency and disclosure requirements for issuing and trading crypto.</p><p>EU financial services commissioner Mairead McGuinness hopes the regulation will serve as a model for other countries, ensuring a robust global approach that safeguards consumers and financial stability.</p><h3 id="nike-launches-virtual-sneaker-collection-34-our-force-1-34-as-nfts-on-swoosh-platform">Nike launches virtual sneaker collection &#34;Our Force 1&#34; as NFTs on .Swoosh platform.</h3><p>Nike introduces its first-ever NFT sneaker collection called &#34;Our Force 1&#34; on the new <a href="https://www.nike.com/launch/s/dotswoosh-our-force-1/1" rel="noopener noreferrer nofollow">.Swoosh platform</a>. The virtual sneaker is based on Nike&#39;s iconic Air Force 1 design and will be available for purchase on May 10 via the .Swoosh marketplace.</p><p>Early access to the sale on May 8 is granted through virtual &#34;AF1 posters&#34; airdropped to randomly selected .Swoosh users. This marks a significant move by Nike to capitalize on the NFT trend that has taken the art and fashion worlds by storm.</p><h3 id="tribe-capital-is-reportedly-considering-reviving-ftx">Tribe Capital is reportedly considering reviving FTX</h3><p>Tribe Capital, a San Francisco-based investment firm that previously invested in FTX, is reportedly considering injecting more funds into the insolvent centralized cryptocurrency exchange.</p><p>Sources familiar with the matter revealed that Tribe Capital is planning to lead a $250 million fundraising effort, with $100 million coming from the company and its limited partners. The venture capital firm is said to be interested in working with other investors to bring the struggling crypto firm back to life.</p><p>While the talks are still in the early stages, <a href="https://www.bloomberg.com/news/articles/2023-04-18/ftx-crypto-exchange-restart-plan-draws-interest-from-tribe-capital-vc?" rel="noopener noreferrer nofollow">sources </a>say that Tribe Capital is optimistic about the potential for a successful revival of FTX. If successful, the exchange’s name would remain FTX.</p><h3 id="bittrex-and-its-former-ceo-charged-by-sec-for-unregistered-operations">Bittrex and its former CEO charged by SEC for unregistered operations</h3><p>Crypto asset trading platform Bittrex and its former CEO, William Shihara, have<a href="https://www.sec.gov/litigation/complaints/2023/comp-pr2023-78.pdf" rel="noopener noreferrer nofollow"> been charged</a> by the United States Securities and Exchange Commission (SEC) for operating an unregistered national securities exchange, broker, and clearing agency.</p><p>Bittrex Global is also being charged for its operation of a single shared order book along with Bittrex. The SEC argued that six tokens traded on Bittrex, including OMG, Dash, and Algorand, are securities. However, the SEC has been criticized for claiming tokens are securities only at the time it files such complaints.</p><h3 id="silvergate-bank-in-trouble-as-it-faces-class-action-suit-and-multiple-lawsuits">Silvergate Bank in trouble as it faces class-action suit and multiple lawsuits</h3><p>Silvergate Bank, a California-based bank that offered banking services to cryptocurrency clients, is facing three combined lawsuits from investors alleging that the bank assisted FTX, a cryptocurrency exchange, in fraudulently stealing their funds.</p><p>The US District Judge for the Northern District of California, Jacqueline Scott Corley, consolidated the three separate lawsuits against Silvergate Bank, stating that they all shared common legal and factual questions. In February, four investors filed lawsuits, accusing the bank of knowingly supporting FTX&#39;s alleged inappropriate conduct. The bank had already disclosed plans to liquidate assets and shut down operations following a bank run in March.</p><h2 id="header-1">NEW TOKEN LISTINGS ON MELEGASWAP</h2><h3 id="a-href-https-www-nerveflux-io-rel-noopener-noreferrer-nofollow-nerveflux-nerve-a"><a href="https://www.nerveflux.io/" rel="noopener noreferrer nofollow">NerveFlux (NERVE)</a></h3><p>The idea of NerveFlux is to build an ecosystem where everyone will be able to invest (buy and sell) in real estate properties without converting cryptocurrency to fiat. NerveFlux has other use cases like Metaverse, NFT, P2E games, and its Charity Program (an innovative Tree Planting Program) aimed at fighting climate change. Read the full announcement <a href="https://coinmarketcap.com/community/articles/6443e1d62b33e55ba67ce831/" rel="noopener noreferrer nofollow">HERE</a>.</p><h3 id="a-href-https-c6digital-com-rel-noopener-noreferrer-nofollow-c6digital-cdig-a"><a href="https://c6digital.com/" rel="noopener noreferrer nofollow">C6DIgital (CDIG)</a></h3><p>C6Digital is developing a world-class event metaverse ecosystem. The platform provides a seamless convergence of our physical and digital lives, creating a unified, virtual community for people to attend business events, social events, concerts, sporting events, and private meetups.</p><h3 id="a-href-https-www-karencoin-finance-rel-noopener-noreferrer-nofollow-karencoin-karen-a"><a href="https://www.karencoin.finance/" rel="noopener noreferrer nofollow">KarenCoin (KAREN)</a></h3><p>KarenCoin is a meme coin with tokenomics designed to reward holders and punish whales while generating liquidity. 8% is taxed on every transaction, 4% of which is rewarded to holders, and the other 4% is put back into liquidity. Read the full announcement <a href="https://coinmarketcap.com/community/articles/643f8f756e1f593b80f4528b/" rel="noopener noreferrer nofollow">HERE</a>.</p><h3 id="a-href-https-ufcb-world-rel-noopener-noreferrer-nofollow-ufc-bets-ufcb-a"><a href="https://ufcb.world/" rel="noopener noreferrer nofollow">UFC Bets (UFCB)</a></h3><p>The UFC brand has a huge influence on the project. As a company, it has a net worth of around $10 billion, with the global gambling industry valued at over $565 billion, not to mention the cryptocurrency market as a whole. The team has a huge passion for those three and decided to combine them all under one roof with some amazing utilities. Read the full announcement <a href="https://coinmarketcap.com/community/articles/64410648866feb7c81cf8f3a/" rel="noopener noreferrer nofollow">HERE</a>.</p><h3 id="phoenixco-dao-token-phdao">PhoenixCo DAO Token (PHDAO)</h3><p>The PhoenixCo DAO Token (PHDAO) is issued by PhoenixCo as the governance token and will be used as the community voting tool and within the NFT ecosystem.</p><h3 id="a-href-https-www-extremebtc-org-rel-noopener-noreferrer-nofollow-extreme-btc-ebtc-a"><a href="https://www.extremebtc.org/" rel="noopener noreferrer nofollow">Extreme BTC (EBTC)</a></h3><p>The ExtremeBTC.org project is committed to helping people make a real impact with their cryptocurrency donations. The team has recently launched several projects to make donating to charities and other causes easier and more efficient.</p><h3 id="melega-launches-new-project-match-events">Melega launches new “Project Match” events</h3><p>This type of event will allow projects the great opportunity to get in touch with others to evaluate operational and marketing synergies, but above all, to create a match between the respective communities that will benefit from mutual attention and growth. <a href="https://t.me/melegacommunity/129255" rel="noopener noreferrer nofollow">Learn more.</a></p><p><em><strong>Risk warning: </strong>Cryptocurrency investment or trading is subject to high market risk. Hence, you might lose your money in the process. Please do adequate research and plan your investments cautiously. We at MelegaSwap will always make the best efforts to list high-quality and potential coins, but we will not be responsible for your losses.</em></p><h2 id="header-2">•••</h2><h2 id="header-3"></h2><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/a189a0c205c4436b927ed876a69b04e3.png" /><p></p><h2 id="header-4">Trade with the best decentralized AMM cryptocurrency exchange</h2><p><em>Do you want to buy, sell, and invest in cryptocurrencies and still have 100% control over your crypto assets? If yes, then Melega Finance is for you. <strong>MelegaSwap</strong> is a leading automated market maker (AMM) decentralized exchange that provides users with a variety of options to trade and earn free tokens at extraordinarily high-interest rates and low charges.</em></p><p><em>At Melega, nobody manages your funds for you because you manage them directly from your personal wallet, while smart contracts transparently take care of everything else.</em></p><p><strong>Learn More About the Melega Ecosystem</strong></p><p>Website: <a href="https://melegaswap.finance/" rel="noopener noreferrer nofollow">https://melegaswap.finance</a></p><p>Telegram: <a href="https://t.me/melegacommunity" rel="noopener noreferrer nofollow">https://t.me/melegacommunity</a></p><p>Twitter: <a href="https://twitter.com/meleganza" rel="noopener noreferrer nofollow">https://twitter.com/meleganza</a></p><p>Instagram: <a href="https://www.instagram.com/melega.finance/" rel="noopener noreferrer nofollow">https://www.instagram.com/melega.finance/</a></p><p>YouTube:<a href="https://www.youtube.com/channel/UC_kjHoXOkPSSB4HeHNZMq-Q" rel="noopener noreferrer nofollow"> Melega Finance Official</a></p><p>DAPP: <a href="https://melega.finance/" rel="noopener noreferrer nofollow">https://melega.finance/</a></p><p>Crypto Services Hub: <a href="https://melega.space/" rel="noopener noreferrer nofollow">https://melega.space/</a></p>

April 16-22 Crypto Top Stories: Euro stablecoin goes live, NIKE's NFT sneakers, SEC boss in hot water, FTX’s potential revival, and more

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