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Crypto Controversy in D.C., Cardano (ADA-USD) and Helium (HNT-USD)




Crypto Controversy in D.C., Cardano (ADA-USD) and Helium (HNT-USD)

Welcome to The New Digital World, where (as I write) the major cryptos look to end the week on a high note. Behind the scenes, we’re learning what’s going on in Washington, D.C., Cardano (ADA-USD), Helium (HNT-USD), and more. Here are the details.

Source: Marie Shearin Images /

Regulators, Politicians Getting Loud About Crypto

Not only does SEC Chair Gary Gensler have a Twitter account… He posts lots of videos there. Watching his latest one, I suspect he’ll continue to annoy people in the crypto industry with them.

In Thursday’s video, Gensler said he’s urged staff to “get [platforms] registered and regulated, to ensure that those crypto tokens come in as well and register where appropriate as securities.” Otherwise, we might “risk undermining 90 years of securities law.”

Gensler also criticized crypto exchanges for operating differently than stock exchanges. Namely, for “act[ing] as market makers,” as “that creates inherent conflicts of interest. I’ve asked staff to consider whether it would be appropriate to segregate out the market-making functions on these crypto platforms.”

For what it’s worth: There are decentralized market makers available for crypto trades. In other words, there’s no (human) middleman. The decentralized exchange (DEX) itself uses a protocol that defines prices and provides “liquidity pools” – automatically.

Many of the most popular DeFis are in this business. There’s Uniswap (UNI-USD), a mainstay of our Crypto Investor Network portfolio for nearly two years. Other automated market makers include Curve (CRV-USD), PancakeSwap (CAKE-USD), Raydium (RAY-USD) and Kyber (KNC-USD), to name a few.

If crypto exchanges feel compelled to operate more like the NYSE or Nasdaq, I’d expect them to benefit – and proliferate. For example, there are over 500 market-maker firms for the Nasdaq alone.

Also looking to oversee crypto: the Commodities and Futures Trading Commission (CFTC). They’re the preferred regulator in the new crypto bill from Republican Sen. Cynthia Lummis and Democratic Sen. Kirsten Gillibrand (likely to come into play in 2023). To prepare, CFTC Chair Rostin Behnam is creating an “Office of Technology Innovation.”

We also heard from three Democratic senators that it “seems ill-advised” for Fidelity Investments CEO Abby Johnson to be allowing Bitcoin (BTC-USD) in 401(k)s…

While the Federal Deposit Insurance Commission also entered the chat!

On Thursday: The FDIC (along with the Federal Reserve) sent a cease-and-desist to troubled “crypto bank” Voyager Digital.

According to them, Voyager’s marketing implied that it is FDIC insured, therefore customers would be insured if Voyager collapsed. “In reality, the company simply had a deposit account at Metropolitan Commercial Bank, and customers investing via the company’s platform had no FDIC insurance, the regulators said,” per Reuters.

How to check: Look up the legal policies on your crypto app’s website. Oftentimes, it’s just like Voyager: They’re not FDIC insured directly – but send deposits to someone who is. If you go on the FDIC’s BankFind site, you can confirm the Voyager partner (Metropolitan Commercial Bank), and Coinbase (NASDAQ:COIN) partners like Silvergate (NYSE:SI), for example.

Cardano Upgrade Pushed Back “A Few More Weeks”

Cardano (ADA-USD) developers were expected to make a “hard fork” of the blockchain this Sunday, July 31, to roll out some major upgrades for an all-new version of Cardano…

But yesterday, in the July Cardano360 video, we learned that the team needs more time.

“When we make a roll-out plan, we give dates to help the community plan their own rollout… [But] from where we are, there could be a few more weeks before we go to the actual Vasil hard fork,” explained Kevin Hammond, technical manager on the project.

“All the use [cases] have to be ready to progress to the hard fork, to make sure there’s a smooth process. Both for them, but also very important, for the end users of the Cardano blockchain.” Hammond came off very sensibly in the video…

And ADA prices haven’t reacted badly to the news. Like many other major cryptos, Cardano is up about +6% since then (as I write).

Context: This upgrade nicknamed “Vasil” is about scalability. The goal is “increasing throughput and reducing latency in block transmission, to “allow for the network to process a larger number of transactions…without affecting network performance,” as I’ve written before.

Cardano hasn’t made a hard fork like this since last September, when “Alonzo” introduced smart contracts (so developers could build apps and NFTs). ADA has a history of rallying sharply ahead of each major upgrade.

Controversy Over Helium Hotspot Revenues

Liron Shapira, who created a dating-coach site called Relationship Hero and shares the wisdom he learned in this blog, “Bloated MVP,” has been trolling Helium (HNT-USD) all week on Twitter.

First he wrote this: “Helium, often cited as one of the best examples of a Web3 use case, has received $365M of investment led by @a16z. Regular folks have also been convinced to spend $250M buying hotspot nodes, in hopes of earning passive income.

“The result? Helium’s total revenue is $6.5k/month,” Shapira ends his tweet, citing this report from The Generalist. It went viral and landed Shapira an interview with popular crypto YouTuber Tactical Investing, who’s posted excited videos about Helium Hotspots in the past.

Helium founder Amir Haleem responded with some corrections in his own Twitter thread and provided context.

“So, why is there only $6,500 worth of data being paid for? Unlike cellular networks, there aren’t millions of existing devices that can switch to @Helium. The best applications haven’t been built yet, and it takes months or years to build them,” is how Haleem addressed the main criticism.

“Expand your time horizons and focus on projects that do real work and keep their heads down during the hard times. Everything else is just noise,” Haleem advises us in his final tweet.

For what it’s worth: The Generalist’s conclusion on Helium was way different than the guy citing them on Twitter. And I generally find their content valuable, although you should note that their sources tend to work at venture-capital firms.

“It’s clear Helium’s network has room to grow. Indeed, it needs to. While it has done an exceptional job scaling the supply side of the project, nearing 1 million hotspots, more demand is necessary. Embracing 5G could send that side of the market through the roof… Indeed, winning the 5G war could set it on the path to becoming one of the world’s most valuable entities,” concludes The Generalist’s report.

Crypto Wallet Maker Gets Into NFTs – And They’re Very Popular

If you go to OpenSea to check out the top NFTs of the past 7 days, you’ll see a surprising face among the apes, “Potatoz,” and Otherside metaverse plots…

Ledger just launched its own NFT marketplace that you can access directly in its hardware crypto wallets. “Ledger Market will simply be the only safe place to mint and buy NFTs,” claims the company… And to celebrate, Ledger dropped its own NFT collection. It was a huge success:


Ledger’s NFT was basically a VIP ticket. It gets you “privileged access to new Ledger hardware” and your own “limited edition black-on-black Nano X” wallet, as well as exclusive NFT collaborations.

Ledger is targeting luxury brands in the fashion world and is a French company…so perhaps when it comes up in conversation, we should pronounce it “Ledgé.”

Speaking of which:Redeem-and-retain NFTs are the future of luxury goods,” according to this thoughtful essay by Nic Carter.

The deep-dive and enthusiasm for NFTs is notable because Carter was better known as a poster-boy for Bitcoin (BTC-USD) in financial TV and media… Until he was “excommunicated” after investing in a Web3 startup that’s multi-chain – not just Bitcoin/Lighting Network. Gasp! Now, his essay is a great read to see why a hardware company (or any consumer business) would find NFTs well worth their while.

On the date of publication, Ashley Cassell did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines. To have more news from The New Digital World sent to your inbox, click here to sign up for the newsletter.

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PrivaCrip to Power a Blockchain Network That Could Follow Cardano & XRP




PrivaCrip to Power a Blockchain Network That Could Follow Cardano & XRP




When the first decentralised blockchain was popularised in 2008 by Satoshi Nakamoto, the door was open for people across the globe to transact more securely and seamlessly. Many blockchain networks have been built and powered by native crypto tokens, including PrivaCrip (PRCR).

Native tokens exist for several reasons. Aside from acting as digital currencies, they perform various functions. Helping blockchains improve data traceability, security, transparency, and trustworthiness shared throughout the network. They also assist in reducing costs through their ever-evolving efficient methods.

Cardano (ADA) and Ripple (XRP) are among the best blockchain-based cryptos that this article will discuss. We will also look at how PrivaCrip (PRCR) will power a blockchain network set to launch into the crypto space.

Top Tier Crypto Makes its Mark – Cardano (ADA)

Cardano (ADA) has been around in the crypto space since 2017. The Proof-of-Stake (PoS), Ouroborous Cardano (ADA), was established using a research-based methodology.

Research is the backbone of Cardano (ADA) and is integral to its success in the cryptocurrency market. Cardano (ADA) uses an evidence-driven mechanism and peer-reviewed research to run its ecosystem to drive its evolution.




Among many things, Cardano (ADA) helps establish DeFi products and provides a suite of financial solutions. Crypto enthusiasts can stake Cardano (ADA) for a chance to earn rewards for their holdings.

With 2022 providing challenges in cryptocurrencies across the globe, Cardano (ADA) is one of the few cryptos to see a surge in on-chain trading volume this year. CoinMarketCap lists Cardano (ADA) as the 7th largest crypto by market capitalization at the time of writing.

Making Waves – Ripple (XRP)

Launched in 2012, Ripple (XRP) is a leading provider of crypto solutions for businesses. Ripple (XRP) provides developers with a solid open-source foundation for executing demanding projects. It is fast, energy-efficient, cost-effective, and reliable.

The solutions provided by Ripple (XRP) enable developers to solve inefficiencies, including asset tokenization and remittance. Therefore, individuals and businesses may apply Ripple (XRP) for DeFi, payments, tokenization, and more.

Crypto enthusiasts with a long-term focus may find Ripple (XRP) a valuable investing tool. Token holders can use Ripple (XRP) for staking its mainnet platform for a chance to grow their earnings and maximise profit.

At the time of writing, it ranks number 6 on CoinMarketCap, making it a cryptocurrency to buy now.

The New Face Of Privacy – PrivaCrip (PRCR)

The soon-to-launch PrivaCrip (PRCR) is a cryptocurrency built for Web3 data privacy. It will allow users to develop and use permissionless and privacy-preserving applications. This unique feature of PrivaCrip (PRCR) secures apps, protects users, and fosters the creation of many new Web3 uses.

PrivaCrip (PRCR) will drive a blockchain that creates a more empowering and inclusive internet. It will enable developers to build secure dApps using private contracts based on original privacy research (OPR) to revolutionise Web3.

PrivaCrip (PRCR) will begin pre-sale soon and has an initial token price of 0.10 USD. According to the whitepaper, there will be a total supply of 190 million tokens, of which 40% of the total supply will go to the pre-sale.

Crypto enthusiasts who purchase PrivaCrip (PRCR) during the pre-sale will receive the most significant long-term rewards and bonuses. Those who buy with Bitcoin (BTC) will receive a 10% bonus. Also, those using Ethereum (ETH) to purchase will receive 15% of the total PrivaCrip (PRCR) they purchase as a bonus.

10% of PrivaCrip’s (PRCR) total supply is up for distribution as staking rewards, meaning that token holders who stake will receive rewards for their contribution to the crypto’s advancement.

The Bottomline 

Blockchain networks are continuously evolving, and so are the crypto tokens that power them. Cardano (ADA) and Ripple (XRP) have contributed tremendously to the success of their blockchain networks, gathering mass appeal.

PrivaCrip (PRCR), for its part, will drive a security-enabled blockchain and scalability in private DeFi, empower data tokenization, and bring together a fast-growing community. Acting on its promise, it has the potential to become the next big mover in cryptocurrency.

For more on PrivaCrip (PRCR), check below:





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Cardano (ADA) Withdrawal Fees Waved by Bitrue Exchange




Cardano Reaches “Important Milestone” on Road to Vasil Upgrade

Alex Dovbnya

Singapore-based cryptocurrency exchange made Cardano one of its base trading pairs earlier this year

Singapore-based cryptocurrency exchange Bitrue announced that it had temporarily waived withdrawal fees for the Cardano (ADA) cryptocurrency.

The trading platform says that the move is meant to celebrate the support it received from the community behind the cryptocurrency.

Users will be able to withdraw ADA without paying any fees until mid-September.

Bitrue has stressed that it wants users to have “as much choice as possible” when it comes to custody options. Those who want to hold their ADA tokens will not be able to do so without paying an additional commission.

At the same time, Bitrue has touted its “Power Piggy” yield-farm investment program for those who want to earn passive income with ADA.

As reported by U.Today, Bitrue introduced the token as its base currency back in February.

In June 2021, it also became the first cryptocurrency trading platform to add support for Cardano-based native tokens.

Last month, Bitrue also announced a staking initiative with the ADA cryptocurrency. It decided to contribute a million tokens to some of the top Cardano staking pools in an effort to boost the level of decentralization.

Earlier this year, SundaeSwap (SUNDAE), the native token of the SundaeSwap exchange, also became available on Bitrue.

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WingRiders Losses 59% Of Its Total Value Locked, Plunges Cardano TVL Below $100M




Cardano Founder Charles Hoskinson Criticize SEC Cracking Down on Companies Outside Its Jurisdiction

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Popular Cardano-based decentralized exchange WingRiders has lost its position as the most valuable DEX on Cardano. 

WingRiders slumped from the first position to third after losing more than 59% of the total value locked (TVL) on the platform in the past 30 days. 

At the time of writing this line, WingRiders is now the third-largest DEX by total value locked, with a TVL of $19.66 million. It is noteworthy that WingRiders maintained the top spot for more than two months, claiming  42% of TVL On Cardano. However, the DEX has fallen from glory ever since. 

Minswap Is Now Cardano’s Most Valuable DEX

The development also affected the total value locked on Cardano. The total value locked on Cardano has fallen below $100 million in the last 30 days after the WingRiders TVL slumped. 

cardano total value locked
Cardano total value locked

Interestingly, Minswap has taken the lead to become the most valuable decentralized exchange on Cardano after the massive decline of WingRiders’ TVL. 

At press time, Minswap is leading, with a $49.09 million total value locked on the platform. The DEX hit the milestone after recording a massive growth of 30.9% in its TVL in the past 30 days. Minswap accounts for 51.82% of the total value locked on Cardano. 

SundaeSwap, the first decentralized exchange on Cardano, is now the second most valuable DEX in the ecosystem. SundaeSwap is second in the ranking, with $19.72 million in TVL. 

Like WingRiders, SundaeSwap has also lost a significant amount of its TVL over the past 30 days. In the past month, SundaeSwap has lost nearly 10% of the funds locked on the platform.

Commenting on the development, Cardano Daily, a platform that shares new developments about Cardano, said: 

“After the major decline of @wingriderscom, the TVL scenario of the Cardano ecosystem has stabilized back to normal as we have seen in the past few weeks. @MinswapDEX still led the ecosystem with $51M TVL, contributing 50% of the ecosystem.” 

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