Crypto News Digest: Floki Partners with OG Esports, Bitcoin Holding Trends, FBI Alert

September 6, 2024

Crypto World

Maciej Zerelik

Stay updated with the latest from StealthEX and CryptoDaily! This week, we’re sharing the top stories from the cryptocurrency world. Curious about the current trends? Our roundup provides concise insights, new perspectives, and all the freshest developments in the crypto industry. Stay informed with our quick and thorough coverage, ensuring you never miss out on the latest in the crypto space!

Floki Partners with OG Esports to Bring Valhalla to the Gaming World

Floki has announced an exciting new partnership with OG Esports, marking a significant move for its blockchain-based play-to-earn game, Valhalla. This innovative metaverse game is designed to offer a rewarding experience for players, blending open-world exploration with strategic, turn-based combat.

Valhalla allows players to earn in-game rewards through skillful gameplay, unlocking special advantages along the way. This partnership includes Valhalla’s logo being displayed as a jersey sleeve sponsor for OG Esports at all upcoming events, creating new ways for fans to engage with both brands.

Mr. Brown Whale, Valhalla’s lead and core advisor, expressed his excitement, stating that the collaboration with OG Esports will “redefine the battlegrounds of the web3 and GameFi space.” Sujoy Roy, Head of Partnerships at OG Esports, added that this partnership aligns with their goal of staying at the forefront of the gaming industry and enhancing the gaming experience for their fans.

Valhalla, inspired by Norse mythology, features a vibrant MMORPG world where players collect, train, and battle with unique creatures called Veras. Whether solo or as part of a clan, players participate in a player-driven economy to rise in ranks and dominate the battlefield.

Almost Half of Bitcoin Supply Remains Unmoved Amid Market Uncertainty

Recent data reveals that 45% of Bitcoin’s supply hasn’t been touched by users in six months, signaling a strong hold despite volatile market conditions. While Bitcoin had a promising start to the year with the approval of BTC ETFs, its momentum shifted as institutions halted stablecoin purchases, and prices stagnated early in the month.

The unpredictable nature of the crypto market has led many investors to adopt a cautious approach. Rather than trading, they choose to hold onto their Bitcoin, waiting for better opportunities to either spend or invest further.

Long-term holders (LTH) have seen gains despite the market’s ups and downs. However, the sharp fluctuations in value highlight the growing uncertainty among investors. For now, many prefer to wait, trusting in Bitcoin’s future potential while weathering current challenges.

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FBI Warns US Crypto Firms of North Korean Cyber Threats Targeting Bitcoin ETFs

The FBI has issued a stark warning to US cryptocurrency and DeFi firms about sophisticated North Korean cyber threats. The agency revealed that state-sponsored hackers are launching tailored attacks aimed at stealing digital assets and targeting Bitcoin ETFs.

According to the FBI’s alert, North Korean hackers are employing complex social engineering tactics to breach the security of DeFi and cryptocurrency businesses. These campaigns, which are difficult to detect, often involve impersonating contacts, crafting fake scenarios, and offering unrealistic job or investment opportunities to employees.

The recent surge in Bitcoin ETFs, which pushed Bitcoin prices to an all-time high of $73,000, has drawn the attention of these cyber actors. The FBI believes these malicious groups are preparing for potential attacks on companies connected to cryptocurrency ETFs, posing a significant risk to the sector.

To help protect against these threats, the FBI highlighted several warning signs. These include unusual job offers, requests to download suspicious apps, and attempts to move communication to unverified platforms. Firms are urged to remain vigilant and enhance their cybersecurity measures to prevent unauthorized access to their networks.

Metaplanet Partners with SBI VC Trade to Strengthen Bitcoin Custody Services

Japanese asset manager Metaplanet has entered into a strategic partnership with SBI VC Trade, the cryptocurrency exchange branch of Tokyo-based SBI Holdings. This collaboration is designed to enhance Metaplanet’s Bitcoin custody services as part of its effort to safeguard against Japanese Yen volatility and expand its cryptocurrency reserves.

Metaplanet’s decision to strengthen its Bitcoin holdings is part of a broader corporate strategy. By partnering with SBI VC Trade, the company aims to align with top industry stakeholders in Japan to advance its Bitcoin accumulation plan.

Earlier this year, Metaplanet announced its plan to adopt Bitcoin as a reserve asset, similar to the approach taken by MicroStrategy in the U.S. The firm is working to build a significant Bitcoin portfolio, positioning itself as Japan’s equivalent of MicroStrategy. 

So far, Metaplanet has accumulated 360 BTC under its “Bitcoin First, Bitcoin Only” strategy, with the recent partnership marking a major milestone in its journey to solidify Bitcoin as a core reserve asset.

Qatar Launches Comprehensive Digital Assets Framework to Boost Innovation

Qatar has unveiled a new regulatory framework for digital assets within its Qatar Financial Centre (QFC), aimed at fostering innovation, ensuring market integrity, and attracting global players. The QFC Digital Assets Framework 2024 is a significant step in the nation’s digital transformation, offering a clear regulatory environment for businesses in the sector.

QFC CEO Yousuf Mohamed Al-Jaida expressed pride in setting a blueprint for digital assets, highlighting that the regulatory clarity will enhance market confidence and draw both domestic and international investors. The framework, developed through collaboration with industry stakeholders like exchanges and custodians, will be supervised by the Qatar Financial Centre Regulatory Authority (QFCRA).

The framework outlines strict guidelines, focusing on anti-money laundering (AML), counter-financing of terrorism (CFT), and market conduct. It also includes measures to protect investors and maintain market stability. Notably, the creation and trading of cryptocurrencies and stablecoins as currency substitutes are prohibited within the QFC. Only permitted tokens, licensed by the QFCA, can be traded. Furthermore, the framework grants legal recognition to smart contracts, making them enforceable under Qatari law, positioning Qatar as a leader in the digital asset space.

This article is not supposed to provide financial advice. Digital assets are risky. Be sure to do your own research and consult your financial advisor before investing.