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26 Apr 2023

In the midst of a tumultuous week, First Republic Bank is struggling to regain its footing in the financial world. Reports have surfaced that the bank is poised to enter government receivership due to a massive outflow of $100 billion in customer withdrawals last month. This has prompted investors to flee the bank, causing its shares to dive-bomb by over 50% on Tuesday.

The situation only worsened as pre-market trading began, and by 11:00 a.m. on Wednesday, First Republic Bank’s shares had fallen by over 30%. The decline in market capitalization has been a major concern for investors, who are increasingly worried about the bank’s stability and future prospects.

SCOOP (1/2): Bankers working w @firstrepublic bank say they expect eventual govt receivership for the ailing bank after it exhausts private sector solutions such as asset sales and finding a buyer, both of which appear difficult. Officials at the big banks believed the Feds were

— Charles Gasparino (@CGasparino) April 25, 2023

Sources close to the matter have indicated that the banks which injected $30 billion into First Republic Bank may need to step in and provide additional assistance. Advisors to the banks have stated that failure to do so would result in a greater cost down the line. It is expected that the advisors to First Republic Bank will make a plea to the larger U.S. banks to provide further support.

The troubled bank has already taken significant steps to address its financial challenges, including the sale of assets and a significant reduction in its workforce, with 7,200 employees being laid off. However, it remains to be seen if these measures will be sufficient to restore investor confidence and ensure the bank’s long-term viability.

The only question remaining about First Republic Bank $FRC is whether or not they make it to Friday when banks are usually closed by the FDIC.pic.twitter.com/wGTYC2mYwi

— Wall Street Silver (@WallStreetSilv) April 25, 2023

The banks’ advisors reportedly disclosed that if they are not helped, the system will “pay more later when it fails,” according to CNBC. “Advisors to First Republic will attempt to cajole the big U.S. banks who’ve already propped it up into doing one more favor,” CNBC’s Hugh Son reported. Others have blamed a specific demographic of First Republic Bank’s customers for its downfall.

“Wealthy clientele such as the affluent individuals that banked at [First Republic] have no loyalty to any particular financial adviser,” Chris Whalen, chairman of Whalen Global Advisors, stated in a note received by CBS News. “First Republic was one of many advisers and service providers to their wealthy customers, people who find products like interest-only mortgages attractive,” Whalen added.

After dropping more than 30% on Wednesday, First Republic Bank’s shares managed to rise and currently, the stock is down between 21% to 26% after the rebound. Still, there’s another half day of Wall Street trading and First Republic Bank stock will be watched closely. Reports further detail that the bank’s stocks were halted due to volatility this afternoon.

What do you think the future holds for First Republic Bank, and do you believe that the steps taken by the bank thus far will be enough to restore investor confidence? Share your thoughts in the comments below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 7,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons, rblfmr / Shutterstock.com

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Goldman Predicts US Recession Odds at 35% in 2 Years, John Mauldin Wouldn't Be Surprised if Stocks Fell 40%

The American economy continues to look gloomy and signals pointing toward a looming recession continue to appear. In a note sent to clients this week, Goldman Sachs’ chief economist said the bank envisions the “odds of a recession as roughly ... read more.

In the midst of a tumultuous week, First Republic Bank is struggling to regain its footing in the financial world. Reports have surfaced that the bank is poised to enter government receivership due to a massive outflow of $100 billion in customer withdrawals last month. This has prompted investors to flee the bank, causing its shares to dive-bomb by over 50% on Tuesday.

The situation only worsened as pre-market trading began, and by 11:00 a.m. on Wednesday, First Republic Bank’s shares had fallen by over 30%. The decline in market capitalization has been a major concern for investors, who are increasingly worried about the bank’s stability and future prospects.

SCOOP (1/2): Bankers working w @firstrepublic bank say they expect eventual govt receivership for the ailing bank after it exhausts private sector solutions such as asset sales and finding a buyer, both of which appear difficult. Officials at the big banks believed the Feds were

— Charles Gasparino (@CGasparino) April 25, 2023

Sources close to the matter have indicated that the banks which injected $30 billion into First Republic Bank may need to step in and provide additional assistance. Advisors to the banks have stated that failure to do so would result in a greater cost down the line. It is expected that the advisors to First Republic Bank will make a plea to the larger U.S. banks to provide further support.

The troubled bank has already taken significant steps to address its financial challenges, including the sale of assets and a significant reduction in its workforce, with 7,200 employees being laid off. However, it remains to be seen if these measures will be sufficient to restore investor confidence and ensure the bank’s long-term viability.

The only question remaining about First Republic Bank $FRC is whether or not they make it to Friday when banks are usually closed by the FDIC.pic.twitter.com/wGTYC2mYwi

— Wall Street Silver (@WallStreetSilv) April 25, 2023

The banks’ advisors reportedly disclosed that if they are not helped, the system will “pay more later when it fails,” according to CNBC. “Advisors to First Republic will attempt to cajole the big U.S. banks who’ve already propped it up into doing one more favor,” CNBC’s Hugh Son reported. Others have blamed a specific demographic of First Republic Bank’s customers for its downfall.

“Wealthy clientele such as the affluent individuals that banked at [First Republic] have no loyalty to any particular financial adviser,” Chris Whalen, chairman of Whalen Global Advisors, stated in a note received by CBS News. “First Republic was one of many advisers and service providers to their wealthy customers, people who find products like interest-only mortgages attractive,” Whalen added.

After dropping more than 30% on Wednesday, First Republic Bank’s shares managed to rise and currently, the stock is down between 21% to 26% after the rebound. Still, there’s another half day of Wall Street trading and First Republic Bank stock will be watched closely. Reports further detail that the bank’s stocks were halted due to volatility this afternoon.

What do you think the future holds for First Republic Bank, and do you believe that the steps taken by the bank thus far will be enough to restore investor confidence? Share your thoughts in the comments below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 7,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons, rblfmr / Shutterstock.com

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Goldman Predicts US Recession Odds at 35% in 2 Years, John Mauldin Wouldn't Be Surprised if Stocks Fell 40%

The American economy continues to look gloomy and signals pointing toward a looming recession continue to appear. In a note sent to clients this week, Goldman Sachs’ chief economist said the bank envisions the “odds of a recession as roughly ... read more.

On April 20th, The European Parliament approved the first comprehensive crypto regulation EU-wide, the Markets in Crypto-Assets (MiCA). In the same day, a separate law, the Transfer of Funds regulation, was passed, requiring crypto operators to confirm the identity of their customers in order to halt money laundering transactions.

While the crypto regulation worldwide is becoming increasingly strict, Alchemy Pay is rapidly growing and rising in the cryptocurrency payment field as a payment solution provider bridging global fiat and cryptocurrencies for users in 173 countries. All these achievements started from a forward-looking insight about the revolutionary potential of crypto – the team believe that by creating a seamless gateway between traditional finance and crypto assets, they can make the emerging technology more widely available and provide easier access to financial services for businesses and individuals in different countries and regions.

Currently, it has established solid partnerships with international payment channels such as Visa, Mastercard, Discover, Diners Clubs, Google Pay, Apple Pay and hundreds of local payment channels, and is gradually expanding a larger network of partners.

Recently, Shawn Shi, the founder of Alchemy Pay, was selected as one of the “2022 Forbes China Web 3.0 Innovation Pioneers”. At the same time, Alchemy Pay has established a brand benchmark for its professionalism, trustworthiness and accessibility as a professional and serious payment solution provider that is bridging the gap between fiat and cryptocurrencies in the global economies.

Dedicated for Five Years to Provide Mainstream Friendly Crypto Payment Solution

In 2017, Alchemy Pay project was built and launched by a team of payments experts who had come from years of experience in Singapore, America, Europe with the likes of HSBC, Mastercard, Paypal, and Visa. A year later, the Alchemy Pay team followed up with Crypto Payment, the world’s first hybrid payment merchant acceptance system that allows merchants to accept payments in both cryptocurrencies and fiat currencies from their customers. “This is the equivalent of a ‘hands off’ system.” Robert McCracken, the head of the Alchemy Pay ecosystem explained, “We accept cryptocurrency payments on behalf of merchants and convert them to fiat currency for settlement in the merchant’s local fiat currency.”

From there, the services offered by Alchemy Pay have gradually expanded in four main directions, including on-ramp, off-ramp, NFT checkout and cryptocurrency payment acceptance systems, bringing forward a diverse range of solutions, while maintaining some convergence and crossover between the four segments.

“On & Off-ramp is our payment solution.” Robert explained in the interview, “On-ramp is deployed as a plugin that the Web3 platform can host on their website so that users can use legal payment methods such as Visa, Mastercard, Apple Pay, Google Pay, local bank transfers and commonly used local digital wallets to securely purchase cryptocurrencies. Off-ramp is also a feature of the plugin that operates in a reverse manner, allowing users to sell their cryptocurrency into fiat currency and send the funds directly to their personal bank account, which makes it very easy, straightforward, secure and compliant for users to buy and sell cryptocurrency. NFT checkout is a relatively new solution, with the ability to easily purchase NFT using fiat currency payment methods. This is an easier and more straightforward way for both crypto native and users unfamiliar with Web3.”

After more than five years of development, Alchemy Pay has gained more experience than any other project in the cryptocurrency payments industry – it pinpoints the needs of cryptocurrency-native users, constantly updates and iterates the service, and comes up with solutions with mainstream-friendly usability. Alchemy Pay is available almost anywhere in the world for people of all technical backgrounds, which has built the platform’s barriers within the crypto payments field.

In its first years of development, Alchemy Pay focused on the Asian market, and gradually expanded to Europe and the Americas. By 2021, Alchemy Pay has established payment touchpoints with over 2 million merchants in 70+ countries worldwide. In the last year, Alchemy Pay has focused its business on expanding its global network of payment and remittance partners, partnering with more exchanges and mainstream blockchain networks, and moving towards providing direct-to-customer (D2C) payment solutions.

Put Vision Into Global, Root in the Local

As the business continues to expand, Alchemy Pay has developed into a truly worldwide organization. At the same time, the team found that constructing a strict hierarchical structure may stifle creativity and productivity and limit the organization’s growth.

As a result, at the end of 2022, Alchemy Pay implemented an “Advisory Board Management System”, inviting global experts to take charge of different departments such as compliance, product, security, etc., where they can participate in decision-making, provide more professional advice and focus their talents on areas where they can achieve their true potential. “Because one person can’t be proficient in everything, we have implemented a committee based advisory and management system.” When asked about the original reason for the system, Robert explained, “We thought a decentralized structure would allow our team to thrive and grow healthily. This setup has been very successful in allowing a real sense of team collaboration to occur.

David Plouffe, the former White House Senior Advisor and legendary campaign manager, has also recently chosen to join Alchemy Pay and served as a committee member of Alchemy Pay’s management and advisory board, and is responsible for strategy, compliance, and government relations as a global strategic advisor. Plouffe is credited with the strategy and grass-roots public engagement savvy that won Obama’s 2008 presidential campaign. After his work for Obama, Plouffe became the Senior Vice President of Policy and Strategy for Uber, and in 2022 Plouffe joined the Binance Global Advisory Board.

Currently, Alchemy Pay has core talents and expert leaders in all departments. Ethan Wang has been a driving force for the tech team, he is the tech lead in Google Cloud Web3 team and one of the founding team members. He also formerly worked for Facebook Libra as a tech lead and founding team member; Andy Ng has over 20 years of experience deep-diving in product; Jonas Cernius head up the compliance team from Europe, for he has over 10 years of combined experience in civil service and finance compliance and has extensive experience in legal operations. Robert said, “We welcome talented people from around the world to join us and build Alchemy Pay with us!”

By building a group of talents with its roots in the local market, Alchemy Pay is putting more emphasis on local payments, making it easier and faster for local users to use the payment services it offers. Alchemy Pay has a significant advantage in the industry in terms of local payments, for it currently supports 300+ local payment channels such as OVO and DANA in Indonesia, GCash in the Philippines and many more. At the same time, this team model has allowed Alchemy Pay to gain an advantage in global policy and compliance, “Any changes in the global regional regulatory environment are important to us and can lead to changes and trends in the payments space, so we will keep a watchful eye to catch the latest trends and changes.” Robert said.

In recent years, Alchemy Pay has seen the potential for demand for cryptocurrencies in South East Asia and Latin America, tailoring its payment solutions and focusing its marketing efforts on these regions, developing operational strategies to promote its products in line with local market conditions. Alchemy Pay has also built a strong reputation and competitiveness for its products by partnering with celebrities and notable organizations to promote its payment products and expand brand local presence.

“Our mission is to bridge the fiat and crypto global economies.” Talking about Alchemy Pay’s long-term vision, Robert expressed the team’s desire to create a sustainable and evolutionary project that solves the problems of connecting the world of traditional finance to the world of cryptocurrencies.

He concluded Alchemy Pay’s mission and vision:“Our ultimate goal is to make it easy for people worldwide to use and access a more decentralized, open, and fair form of finance. We want Alchemy Pay to represent a crypto payment solution that stands the test of time and values users’ feedback. To achieve this, we will focus on refining and improving our product while adopting a long-termist mentality to meet the long term needs of our users.”

Source:Forbes

 

 

 

This is a sponsored post. Learn how to reach our audience here. Read disclaimer below.

Bitcoin.com is the premier source for everything crypto-related. Contact the Media team on ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Following a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days

Transaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized ... read more.

On April 20th, The European Parliament approved the first comprehensive crypto regulation EU-wide, the Markets in Crypto-Assets (MiCA). In the same day, a separate law, the Transfer of Funds regulation, was passed, requiring crypto operators to confirm the identity of their customers in order to halt money laundering transactions.

While the crypto regulation worldwide is becoming increasingly strict, Alchemy Pay is rapidly growing and rising in the cryptocurrency payment field as a payment solution provider bridging global fiat and cryptocurrencies for users in 173 countries. All these achievements started from a forward-looking insight about the revolutionary potential of crypto – the team believe that by creating a seamless gateway between traditional finance and crypto assets, they can make the emerging technology more widely available and provide easier access to financial services for businesses and individuals in different countries and regions.

Currently, it has established solid partnerships with international payment channels such as Visa, Mastercard, Discover, Diners Clubs, Google Pay, Apple Pay and hundreds of local payment channels, and is gradually expanding a larger network of partners.

Recently, Shawn Shi, the founder of Alchemy Pay, was selected as one of the “2022 Forbes China Web 3.0 Innovation Pioneers”. At the same time, Alchemy Pay has established a brand benchmark for its professionalism, trustworthiness and accessibility as a professional and serious payment solution provider that is bridging the gap between fiat and cryptocurrencies in the global economies.

Dedicated for Five Years to Provide Mainstream Friendly Crypto Payment Solution

In 2017, Alchemy Pay project was built and launched by a team of payments experts who had come from years of experience in Singapore, America, Europe with the likes of HSBC, Mastercard, Paypal, and Visa. A year later, the Alchemy Pay team followed up with Crypto Payment, the world’s first hybrid payment merchant acceptance system that allows merchants to accept payments in both cryptocurrencies and fiat currencies from their customers. “This is the equivalent of a ‘hands off’ system.” Robert McCracken, the head of the Alchemy Pay ecosystem explained, “We accept cryptocurrency payments on behalf of merchants and convert them to fiat currency for settlement in the merchant’s local fiat currency.”

From there, the services offered by Alchemy Pay have gradually expanded in four main directions, including on-ramp, off-ramp, NFT checkout and cryptocurrency payment acceptance systems, bringing forward a diverse range of solutions, while maintaining some convergence and crossover between the four segments.

“On & Off-ramp is our payment solution.” Robert explained in the interview, “On-ramp is deployed as a plugin that the Web3 platform can host on their website so that users can use legal payment methods such as Visa, Mastercard, Apple Pay, Google Pay, local bank transfers and commonly used local digital wallets to securely purchase cryptocurrencies. Off-ramp is also a feature of the plugin that operates in a reverse manner, allowing users to sell their cryptocurrency into fiat currency and send the funds directly to their personal bank account, which makes it very easy, straightforward, secure and compliant for users to buy and sell cryptocurrency. NFT checkout is a relatively new solution, with the ability to easily purchase NFT using fiat currency payment methods. This is an easier and more straightforward way for both crypto native and users unfamiliar with Web3.”

After more than five years of development, Alchemy Pay has gained more experience than any other project in the cryptocurrency payments industry – it pinpoints the needs of cryptocurrency-native users, constantly updates and iterates the service, and comes up with solutions with mainstream-friendly usability. Alchemy Pay is available almost anywhere in the world for people of all technical backgrounds, which has built the platform’s barriers within the crypto payments field.

In its first years of development, Alchemy Pay focused on the Asian market, and gradually expanded to Europe and the Americas. By 2021, Alchemy Pay has established payment touchpoints with over 2 million merchants in 70+ countries worldwide. In the last year, Alchemy Pay has focused its business on expanding its global network of payment and remittance partners, partnering with more exchanges and mainstream blockchain networks, and moving towards providing direct-to-customer (D2C) payment solutions.

Put Vision Into Global, Root in the Local

As the business continues to expand, Alchemy Pay has developed into a truly worldwide organization. At the same time, the team found that constructing a strict hierarchical structure may stifle creativity and productivity and limit the organization’s growth.

As a result, at the end of 2022, Alchemy Pay implemented an “Advisory Board Management System”, inviting global experts to take charge of different departments such as compliance, product, security, etc., where they can participate in decision-making, provide more professional advice and focus their talents on areas where they can achieve their true potential. “Because one person can’t be proficient in everything, we have implemented a committee based advisory and management system.” When asked about the original reason for the system, Robert explained, “We thought a decentralized structure would allow our team to thrive and grow healthily. This setup has been very successful in allowing a real sense of team collaboration to occur.

David Plouffe, the former White House Senior Advisor and legendary campaign manager, has also recently chosen to join Alchemy Pay and served as a committee member of Alchemy Pay’s management and advisory board, and is responsible for strategy, compliance, and government relations as a global strategic advisor. Plouffe is credited with the strategy and grass-roots public engagement savvy that won Obama’s 2008 presidential campaign. After his work for Obama, Plouffe became the Senior Vice President of Policy and Strategy for Uber, and in 2022 Plouffe joined the Binance Global Advisory Board.

Currently, Alchemy Pay has core talents and expert leaders in all departments. Ethan Wang has been a driving force for the tech team, he is the tech lead in Google Cloud Web3 team and one of the founding team members. He also formerly worked for Facebook Libra as a tech lead and founding team member; Andy Ng has over 20 years of experience deep-diving in product; Jonas Cernius head up the compliance team from Europe, for he has over 10 years of combined experience in civil service and finance compliance and has extensive experience in legal operations. Robert said, “We welcome talented people from around the world to join us and build Alchemy Pay with us!”

By building a group of talents with its roots in the local market, Alchemy Pay is putting more emphasis on local payments, making it easier and faster for local users to use the payment services it offers. Alchemy Pay has a significant advantage in the industry in terms of local payments, for it currently supports 300+ local payment channels such as OVO and DANA in Indonesia, GCash in the Philippines and many more. At the same time, this team model has allowed Alchemy Pay to gain an advantage in global policy and compliance, “Any changes in the global regional regulatory environment are important to us and can lead to changes and trends in the payments space, so we will keep a watchful eye to catch the latest trends and changes.” Robert said.

In recent years, Alchemy Pay has seen the potential for demand for cryptocurrencies in South East Asia and Latin America, tailoring its payment solutions and focusing its marketing efforts on these regions, developing operational strategies to promote its products in line with local market conditions. Alchemy Pay has also built a strong reputation and competitiveness for its products by partnering with celebrities and notable organizations to promote its payment products and expand brand local presence.

“Our mission is to bridge the fiat and crypto global economies.” Talking about Alchemy Pay’s long-term vision, Robert expressed the team’s desire to create a sustainable and evolutionary project that solves the problems of connecting the world of traditional finance to the world of cryptocurrencies.

He concluded Alchemy Pay’s mission and vision:“Our ultimate goal is to make it easy for people worldwide to use and access a more decentralized, open, and fair form of finance. We want Alchemy Pay to represent a crypto payment solution that stands the test of time and values users’ feedback. To achieve this, we will focus on refining and improving our product while adopting a long-termist mentality to meet the long term needs of our users.”

Source:Forbes

 

 

 

This is a sponsored post. Learn how to reach our audience here. Read disclaimer below.

Bitcoin.com is the premier source for everything crypto-related. Contact the Media team on ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year

The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.

PRESS RELEASE. MANCHESTER, UK, Date, Chainwire

OKX, a world-leading Web3 technology company and Training Kit Partner of Manchester City, have today kicked off a new interactive metaverse avatar campaign with the Club. The new experience at playforthecity.com gives fans the opportunity to personalise their own digital avatars in Manchester City training kits and pre-match warm-up apparel with OKX branding.

To mark the kick-off, a hero video featuring top Manchester City players as giant avatars exploring Manchester as fans make their way to the stadium will be debuted in a multi-channel campaign during Manchester City’s home clash with fellow Premier League title contenders Arsenal. The video will announce the new experience and inspire fans to “Play for the City” and get their own personalised digital avatars in the Manchester City x OKX kit.

Playforthecity.com allows fans to create their own bespoke avatars in seconds, giving them the ability to use their new avatars across 4,000 metaverse games and apps. By sharing their avatars on social media using #playforthecity fans are also entered into a prize draw for a chance to win epic Man City and OKX prizes.

Haider Rafique, Global Chief Marketing Officer, OKX, said: “The metaverse experiences we’ve been developing with Manchester City represent a whole world of exciting new opportunities, and your avatar grants you access to these. This campaign is another example of how Manchester City and OKX are delivering on the promise of Web3 to enhance the fan experience and help people get closer to what OKX considers ‘a new way to internet’.”

Gavin Johnson, Media Director at City Football Group, said: “We’re pleased to launch this exciting campaign with OKX and Yahoo today. Bringing together expertise from all three collaborators, we’re able to offer Manchester City fans across the world the ability to connect and engage with the club in a unique and interesting new way and we hope fans enjoy the experience on offer.”

The experience was created by Manchester City and OKX in collaboration with Yahoo, which utilised its premium content creation team and technology to bring the experience to life and spread the word to fans. Working with the Ready Player Me platform to build the bespoke AR and avatar experience, Yahoo created the hero video and will distribute the content through digital Out of Home (DOOH) locations as well as video, display and native formats across mobile, tablet and TV screens to inspire Manchester City fans to try it for themselves.

Josh Partridge, Head of EMEA at Yahoo, said: “We had a clear brief – to offer fans a fun, engaging and immersive experience that gives them new ways to interact with the team and players through digital touchpoints in the stadium, the city, and even the virtual world. Using Yahoo’s experience in producing premium quality digital content and distributing it at scale directly to the club’s target audience means we can help in forging deeper connections on digital platforms with their fans through new, interactive ways on match day and beyond.”

This is the latest Metaverse experience brought to fans by OKX and Manchester City following the launch of a training course with Rúben Dias and a tactical masterclass with İlkay Gündoğan in the OKX Collective metaverse. May will see fans invited into the metaverse for exclusive experiences with Jack Grealish and Alex Greenwood.

About OKX

OKX is the second biggest global crypto exchange by trading volume and a leading web3 technology company. Trusted by more than 50 million global users, OKX is known for being the fastest and most reliable crypto trading app for investors and professional traders everywhere.

As a top partner of English Premier League champions Manchester City FC, McLaren Formula 1, golfer Ian Poulter, Olympian Scotty James, and F1 driver Daniel Ricciardo, OKX aims to supercharge the fan experience with new financial and engagement opportunities. OKX is also the top partner of the Tribeca Festival as part of an initiative to bring more creators into web3.

Beyond OKX’s exchange, the OKX Wallet is the platform’s latest offering for people looking to explore the world of NFTs and the metaverse while trading GameFi and DeFi tokens.

To learn more about OKX, download our app or visit: okx.com

Disclaimer

This announcement is provided for informational purposes only. It is not intended to provide any investment, tax, or legal advice, nor should it be considered an offer to purchase, sell, or hold digital assets. Cryptocurrency is unregulated in the UK. Digital assets, including stablecoins, involve a high degree of risk, can fluctuate greatly, and can even become worthless. Profits may be subject to capital gains tax. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances

 

 

 

 

 

 

 

 

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Bitcoin.com is the premier source for everything crypto-related. Contact the Media team on ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Tony Hawk's Latest NFTs to Come With Signed Physical Skateboards

Last December, the renowned professional skateboarder Tony Hawk released his “Last Trick” non-fungible token (NFT) collection via the NFT marketplace Autograph. Next week, Hawk will be auctioning the skateboards he used during his last tricks, and each of the NFTs ... read more.

PRESS RELEASE. MANCHESTER, UK, Date, Chainwire

OKX, a world-leading Web3 technology company and Training Kit Partner of Manchester City, have today kicked off a new interactive metaverse avatar campaign with the Club. The new experience at playforthecity.com gives fans the opportunity to personalise their own digital avatars in Manchester City training kits and pre-match warm-up apparel with OKX branding.

To mark the kick-off, a hero video featuring top Manchester City players as giant avatars exploring Manchester as fans make their way to the stadium will be debuted in a multi-channel campaign during Manchester City’s home clash with fellow Premier League title contenders Arsenal. The video will announce the new experience and inspire fans to “Play for the City” and get their own personalised digital avatars in the Manchester City x OKX kit.

Playforthecity.com allows fans to create their own bespoke avatars in seconds, giving them the ability to use their new avatars across 4,000 metaverse games and apps. By sharing their avatars on social media using #playforthecity fans are also entered into a prize draw for a chance to win epic Man City and OKX prizes.

Haider Rafique, Global Chief Marketing Officer, OKX, said: “The metaverse experiences we’ve been developing with Manchester City represent a whole world of exciting new opportunities, and your avatar grants you access to these. This campaign is another example of how Manchester City and OKX are delivering on the promise of Web3 to enhance the fan experience and help people get closer to what OKX considers ‘a new way to internet’.”

Gavin Johnson, Media Director at City Football Group, said: “We’re pleased to launch this exciting campaign with OKX and Yahoo today. Bringing together expertise from all three collaborators, we’re able to offer Manchester City fans across the world the ability to connect and engage with the club in a unique and interesting new way and we hope fans enjoy the experience on offer.”

The experience was created by Manchester City and OKX in collaboration with Yahoo, which utilised its premium content creation team and technology to bring the experience to life and spread the word to fans. Working with the Ready Player Me platform to build the bespoke AR and avatar experience, Yahoo created the hero video and will distribute the content through digital Out of Home (DOOH) locations as well as video, display and native formats across mobile, tablet and TV screens to inspire Manchester City fans to try it for themselves.

Josh Partridge, Head of EMEA at Yahoo, said: “We had a clear brief – to offer fans a fun, engaging and immersive experience that gives them new ways to interact with the team and players through digital touchpoints in the stadium, the city, and even the virtual world. Using Yahoo’s experience in producing premium quality digital content and distributing it at scale directly to the club’s target audience means we can help in forging deeper connections on digital platforms with their fans through new, interactive ways on match day and beyond.”

This is the latest Metaverse experience brought to fans by OKX and Manchester City following the launch of a training course with Rúben Dias and a tactical masterclass with İlkay Gündoğan in the OKX Collective metaverse. May will see fans invited into the metaverse for exclusive experiences with Jack Grealish and Alex Greenwood.

About OKX

OKX is the second biggest global crypto exchange by trading volume and a leading web3 technology company. Trusted by more than 50 million global users, OKX is known for being the fastest and most reliable crypto trading app for investors and professional traders everywhere.

As a top partner of English Premier League champions Manchester City FC, McLaren Formula 1, golfer Ian Poulter, Olympian Scotty James, and F1 driver Daniel Ricciardo, OKX aims to supercharge the fan experience with new financial and engagement opportunities. OKX is also the top partner of the Tribeca Festival as part of an initiative to bring more creators into web3.

Beyond OKX’s exchange, the OKX Wallet is the platform’s latest offering for people looking to explore the world of NFTs and the metaverse while trading GameFi and DeFi tokens.

To learn more about OKX, download our app or visit: okx.com

Disclaimer

This announcement is provided for informational purposes only. It is not intended to provide any investment, tax, or legal advice, nor should it be considered an offer to purchase, sell, or hold digital assets. Cryptocurrency is unregulated in the UK. Digital assets, including stablecoins, involve a high degree of risk, can fluctuate greatly, and can even become worthless. Profits may be subject to capital gains tax. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances

 

 

 

 

 

 

 

 

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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Tony Hawk's Latest NFTs to Come With Signed Physical Skateboards

Last December, the renowned professional skateboarder Tony Hawk released his “Last Trick” non-fungible token (NFT) collection via the NFT marketplace Autograph. Next week, Hawk will be auctioning the skateboards he used during his last tricks, and each of the NFTs ... read more.

PRESS RELEASE. Los Angeles, USA, April 26th 2023, Chainwire

Today, an exciting announcement was made on decentralized social app Diamond that Bitclout 2.0, the highly-anticipated follow-up to 2021’s viral sensation that took the crypto world by storm, has been revealed by the infamous @diamondhands.

Bitclout 2.0 aims to build upon the success of the original by introducing several new products and features, effectively turning reputation into an asset class on par with what NFTs are today.

BitClout 2.0 is expected to launch with a sophisticated airdrop after the DeSo blockchain’s transition to its new Revolution Proof of Stake consensus mechanism is complete. The white paper for BitClout 2.0 can be accessed at bitclout2.deso.com, and the password can be obtained by sending a DM to @bitclout on any DeSo app like Diamond or DeSo Chat Protocol.

Bootstrapping A Stock Market for People

One of the most groundbreaking new products BitClout 2.0 introduces is Creator Coins V2, a reimagined version of the original trading product that sparked thousands of celebrities and influencers to join the platform.

Creator Coins are a new type of asset class introduced by BitClout 1.0 that are tied to the reputation of an individual rather than to a company or commodity, and Creator Coins allow creators, celebrities, influencers, and everyday users to monetize their work in ways never before possible in web2.

Since Creator Coins track the reputation of an individual, if Elon Musk successfully lands the first person on Mars or alternatively go bankrupt, it will affect the price of his Creator Coin.

Creator Coins V2 are fully backward compatible with V1, allowing users to transfer over seamlessly, and will be tradeable on DeSo DEX, the world’s fastest on-chain order-book exchange (showcased by Openfund).

Trading activity on BitClout 2.0 will be incentivized with a new $BITCLOUT token, allowing people to accrue fees through Creator Coin V2 trading activity.

Bitclout 2.0 will reward early adopters through a sophisticated and viral airdrop scheme that takes inspiration from both BitClout 1.0 and from NFT marketplace Blur. BitClout 2.0’s airdrop mechanics will not only drive trading liquidity but also “content liquidity” by compensating the most active creators on the platform.

Creators who post regularly and engage the community will also earn $BITCLOUT tokens through airdrops, adding an innovative new incentive structure for creators never seen on other platforms.

People interested in participating in the $BITCLOUT airdrop can start familiarizing themselves with DeSo apps like Diamond, Openfund, Desofy, or DeSocialWorld, and many more listed on deso.com, before the launch.

BitClout 2.0 will be built on the Decentralized Social Blockchain. According to the BitClout 2.0 white paper, “DeSo is the only blockchain that can support the storage and indexing requirements needed for a decentralized social platform like BitClout 2.0.” This is thanks to DeSo’s vastly-superior content storage costs, which make it finally feasible for apps to extend beyond DeFi to storage-intensive social applications, and much more.

The History of BitClout

In March of 2021, a mysterious password-protected link began to go viral.

The link allowed users to access a new app called BitClout, created by the pseudonymous founder known as @diamondhands. What started as just a white paper and an associated demo quickly evolved into an addictive worldwide phenomenon, thanks to BitClout’s introduction of a novel new concept known as Creator Coins.

BitClout and its concept of Creator Coins were initially so viral and engaging that the early prototype alone attracted organic signups from hundreds of influencers and celebrities.

It also spawned numerous articles about its burgeoning “stock market for people,” including a long-form piece in the New Yorker.

The Next Great Decentralized Social Application

With the launch of Bitclout 2.0, the true power and capabilities of the DeSo Blockchain will be on full display for the world to see.

Already one of the fastest and cheapest layer-1 blockchains on the market, DeSo’s move to Proof of Stake is likely to cement DeSo’s status as the industry leader for developers wanting to build storage-intensive infinite-state applications.

Once completed, DeSo will inch closer to its final form, “The Sovereign Internet” featuring a “Decentralized Web,” enabling developers to deploy censorship-resistant storage-intensive applications at scale from anywhere in the world.

Bitclout 2.0 will likely be the first example of what can be built on DeSo post-Proof of Stake, but it won’t be the last.

Currently, other proposals are circulating, including Bitfair, the first crypto-native sports betting app, and Pseudo, the first decentralized identity marketplace.

Learn more about the DeSo roadmap and what’s next here.

About Deso

DeSo is a new layer-1 blockchain built from the ground up to decentralize social media and scale storage-heavy applications to billions of users. It raised $200 million and is backed by Sequoia, Andreessen Horowitz, Coinbase Ventures, Social Capital, Polychain Capital, Winklevoss Capital, Pantera, and other blue chip funds.

Contact

Arash Ghaemi

ash@deso.org

 

 

 

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Bitcoin.com is the premier source for everything crypto-related. Contact the Media team on ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Tony Hawk's Latest NFTs to Come With Signed Physical Skateboards

Last December, the renowned professional skateboarder Tony Hawk released his “Last Trick” non-fungible token (NFT) collection via the NFT marketplace Autograph. Next week, Hawk will be auctioning the skateboards he used during his last tricks, and each of the NFTs ... read more.

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