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In the digital asset arena, a rivalry has ensued between dYdX (dYdX) and BorroeFinance ($ROE) as the top DeFi projects yearn to achieve a tenfold increase.

Notably, market watchers spotlighted a remarkable development in the dYdX chain, spurring a growth in the value of dYdX. Also, BorroeFinance ($ROE) has advanced to the next stage of its presale, marking a significant milestone for the new DeFi project.

Which of these top crypto coins can grow ten times higher? Lets find out!

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The dYdX Chain, an independent Layer 1 blockchain based on Cosmos, has successfully entered its beta mainnet phase, representing a significant progression in the decentralized derivatives trading sector.

The transition from alpha to beta mainnet occurred on November 13 at 8:45 a.m. EST, following a decisive community-supported governance vote with over 99% approval. The dYdX Operations subDAO, overseeing the decentralized infrastructure, verified this development through a blog post on its website.

The governance vote has enabled active trading functionalities across 33 markets. Through the dydx.trade platform, users can now participate in dynamic trading across 33 perpetual markets, enjoying leverage of up to 20x.

While users wont be receiving trading rewards in this beta stage, validators and stakers stand to accumulate trading fees. This stage plays a crucial role in conducting comprehensive testing of the active trading landscape on the dYdX Chain.

The progression to the beta mainnet phase included a deliberate transition from depending on Ethereum Layer 2 scaling solution StarkEx in version 3 to establishing itself as an independent Layer 1 blockchain within the Cosmos ecosystem with the release of version 4. The Introduction of the alpha mainnet for dYdX version 4 and its blockchain-based on Cosmos was launched on October 26.

As the leading decentralized derivatives trading platform in cryptocurrency, dYdX has accumulated a total trading volume surpassing $1 trillion since 2020. Also, dYdX soared 19.31% between November 13 and November 17, ranging from $3.20 to $3.83.

Experts declared that dYdX is heading to $4.00, anticipating a 1.17% increase in its price.

BorroeFinance ($ROE) recently emerged as an active player in the crypto industry, posing among established entities in the decentralized finance space.

It leads the DeFi frontier with its innovative AI-powered funding marketplace, explicitly designed for transactions involving future earnings like invoices, subscriptions, and royalties in the Web3 realm. Content creators within the Web3 ecosystem turn to BorroeFinances marketplace, where they exchange their outstanding invoices for immediate cash.

Buyers, also participants in the Web3 space, seize the opportunity to acquire these future earnings at discounted rates, forging a synchronized relationship within the platform. Moreover, BorroeFinance incorporates a repayment system that allows buyers to apply for a refund. This strategy consolidates buyers confidence in the platform and its activities.

Distinguished for its pivotal role in addressing the limitations of traditional finance, BorroeFinance leverages advanced AI tools to tackle conventional financial challenges.

The platforms blockchain technology empowers users to tokenize their assets, rendering them tradable within the BorroeFinance ecosystem. This unique approach sets BorroeFinance ($ROE) apart as a forerunner in revolutionizing financial transactions by fusing AI and blockchain technology.

$ROE, the native token of BorroeFinance, is undergoing its public presale with a 300% growth target. So far, $ROE has gained 50%, rising from its Beta Stage price of $0.01 to the second stage at $0.0150. Given the current rate of $ROE adoption, experts believe $ROE could achieve a tenfold increase in the imminent bull market.

Visit BorroeFinance Presale | Join The Telegram Group | Follow BorroeFinance on Twitter

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Cryptocurrency Showdown: dYdX vs. BorroeFinance Who Will ... - Analytics Insight

1.12 million in cryptocurrency has been seized as part of a national and international investigation into money laundering and fraudulent text messages.

It is the first major seizure of cryptocurrency in the area of organised cyber-enabled frauds by An Garda Sochna.

Garda attached to the Waterford Division Crime Hub have been conducting what they described as a "complex criminal investigation" focusing on the bulk transmission of smishing texts (Fraudulent text or WhatsApp Messages).

Nine men were arrested in Waterford between September and October as part of this investigation.

Two of the men subsequently appeared before Waterford District Court, where they were charged with offences related to money laundering, theft and fraud offences.

Garda said the investigation had also resulted in the freezing of 30,000 in other monies, the seizure of two vehicles - a Volkswagen Golf and a Mercedes - and the identification of a property in Dubai.

The criminal activity involved fraudulent text and WhatsApp messages claiming to be from national postal offices, delivery companies and financial institutions.

The investigation is being coordinated by the Waterford Crime Office with the assistance of GNECB (Virtual Assets Investigation Unit and FIU Ireland), GNCCB, Europol, Garda Passenger Information Unit (GPIU) and other Garda Divisions.

Europol and garda liaisons in Irish embassies are also facilitating the investigation team in conjunction with other police forces to progress the investigation internationally.

The investigation has established that the criminal activity is operating in a number of countries in Europe, the UK, Dubai and South Africa.

See the article here:

1.2m in cryptocurrency seized in major fraud operation - RTE.ie

NetCents and its CEO Clayton Leigh Moore refute the allegations brought by the B.C. Securities Commission that their cryptocurrency exchange was illegal and insider trading regulations were violated.

A former Vancouver resident is facing a hearing before the B.C. Securities Commission for allegedly creating an illegal cryptocurrency exchange administered by a non-existent Swiss-based foundation and promoted with a slew of misrepresentations.

Clayton Leigh Moore and NetCents Technology Inc. face various allegations of breaking the B.C. Securities Act, according to a hearing notice issued Monday.

Moore is the founder of NetCents, a Vancouver-headquartered cryptocurrency payment processing company that traded on the Canadian Securities Exchange from 2016 until May 2021, when the commission halted trading when it says Moore made changes to the beneficial ownership or control of company shares without filing insider trading reports.

On Nov. 27, 2018, the commission froze $3.3 million of company assets derived from the sale of a cryptocurrency Moore created and sold, in 2017, dubbed the NetCents Coin.

The commission alleges that the coin was an investment contract, and thus a security;however, Moore sold it without registering it with the commission (with a prospectus document, or approved exemption).

Moore and the company then created an exchange for investors to buy and sell the coin;however, this was also done without approval from the commission, according to the notice.

Through it all the commission says Moore and the company made misrepresentations to the public via its social media accounts and news releases.

NetCents, said the commission, purported to create a foundation called the NetCents Coin Foundation, to promote and administer the coin. Managing the coin network would be the NetCents Coin Organization, a non-profit the company advertised.

In fact, neither the NCC Organization nor the NCC Foundation, nor any similar independent entity existed during the distribution period and therefore could not have done any of the things NetCents claimed they didand all of the proceed from sales of the Coin went to NetCents.

The company also issued news releases in November 2017 to claim the coin had sold out, but the commission alleges this was not the case.

And in a YouTube video, the company claimed monthly revenue of $100,000 when in fact, NetCents own financial disclosure indicated that its revenue for the entire fiscal year 2017 was less than $100,000, the notice states.

NetCents and Moore knew or ought reasonably have known that the statements on its websites, and in the new releases and YouTube video were misrepresentations, the commission alleges.

NetCents also established an online exchange named the NC Exchange where customers opened accounts and submitted orders to buy and sell the coin. This was done without registering with the commission, the notice states.

Moore issued a statement on Nov. 21, stating the company holds on record a written acknowledgment from the BCSC confirming that its operations were not deemed an illegal exchange prior to the implementation of new registration requirements, announced by the BCSC on Aug.15, 2022, for all cryptocurrency exchanges.

Moore has also taken issue with the protracted nature of the commissions investigation, spanning almost five years. The company, stated Moore, is prepared to defend against the allegations.

The Company anticipates that the outcome will reflect its dedication to compliance and the innovative spirit that drives the company, stated Moore, who added that the company is registered as a Money Services Business (MSB) with Fintrac.

The notice stated Moore resided in Vancouver at the time of the alleged infractions. Moores LinkedInprofile places him in Dubai, where on July 5, 2022 Moore and NetCents announced a partnership with His Highness Sheikh Mohammed Bin Maktoum Bin Juma Al Maktoum.

Moores yet to file annual financial statements for 2021 and 2022.

In the year ending Oct.31, 2020, the company, after raising millions of dollars from investors, reported revenue of $271,492 and expenses of $21.7 million, including $5.1 million on consultants, $1 million on professional fees and $3.2 million in employee salaries; this also includes $9.8 million of share-based payments.

Moore reported a salary of $269,000 and $414,029 of shares in 2020.

In 2018, when the company cleared $120,578 in revenue, Moore reported remuneration of $311,000 cash and $997,503 worth of shares.

The companys CFO Christopher Cherry resigned in July 2021.

Its frozen stock sits at 69 cents per share.

gwood@glaciermedia.ca

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B.C. crypto exchange built on misrepresentations, says BCSC - Vancouver Is Awesome

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP), taking notice of the increasing trend of surrogate advertisements on certain internet-based cryptocurrency exchanges and betting platforms, has directed all companies, including limited liability partnerships (LLPs), not to enter into any type of advertisement or sponsorship agreements with entities involved in surrogate advertising.

Surrogate advertising is a loophole. For example in India there has long been a law in some states that bans the advertising of alcohol. So what alcohol companies do to get around this is launch a product with very similar brand recognition to their alcohol.

Similarly, one of the main sponsors of Pakistan Cricket Board used to be Dafa News. Now, a website called Dafa News definitely existed and was a news website. But it was owned and operated by DafaBet, which is a well known betting company. While the law does not allow DafaBet to sponsor in Pakistan, there is nothing stopping a news website like Dafa News from sponsoring. Hence, a loophole.

The SECP expanded on this by saying that the surrogate advertising is the promotion of banned products, digital coins, and betting platforms as substitute goods, often through indirect means like sponsorship of sports events, aiming to implant the brand in consumers minds. It has also been observed that various online platforms, disguised as sports blogs and news websites, are promoting illegal digital coins, online betting, and cryptocurrency investments.

The Notification issued under Section 40B of the SECP Act advised all companies and LLPs to immediately terminate all existing agreements with such surrogate entities/companies and ensure compliance in true letter and spirit.

As per the regulations by the government of Pakistan, any kind of betting is illegal under the Prevention of Gambling Act 1977, whereas cryptocurrency through online platforms was recently suspended in May 2023.

According to the SECP, the public is strongly advised to exercise extreme caution while making investments in such internet platforms and mobile apps. None of the individuals, companies, or entities advertising cryptocurrencies in Pakistan have been recognized or authorized by the SECP or other regulatory bodies. Thus, the investments promoted by these entities carry risks and may be part of fraudulent schemes.

Read more:

SECP takes notice of surrogate ads by cryptocurrency exchanges ... - Profit by Pakistan Today

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