Gate.io Threatens Legal Action Against Speculators

Bitgamo Set to Launch 150 Crypto ATMs in AsiaIn a press release published on Monday, Luxembourg-registered crypto startup Bitgamo outlined its intention to roll out crypto ATMs across Asia.Photo by Monstera Production on PexelsAsian network rolloutDescribing itself as a no KYC (Know Your Customer) exchange for crypto-to-fiat transactions, the firm has the intention of embarking on a crypto expansion initiative that will see it deploy 150 crypto ATMs across key Asian markets.The press release quotes “official sources” as having confirmed that these crypto ATMs will be operational across the region by February 2024. The firm intends to locate the machines within markets such as Australia, Japan, Hong Kong, and Indonesia.European expansionIn alignment with its growth strategy, Bitgamo has also unveiled plans to introduce an additional 75 cryptocurrency ATMs across Europe over the course of 2024.Founded in 2020, Bitgamo claims that its objective is to address privacy concerns while promoting the adoption of cryptocurrencies in regions where acquiring and holding digital assets can be challenging.Gabriel Weber, the company’s Director of Communications, expressed his excitement about the expansion initiative. He stated:“We are thrilled to be able to offer this innovative service in Australia, Japan, Hong Kong, and Indonesia. The addition of our ATMs will make it super easy for users to sell crypto, and we are confident that they will be valuable resources for the thriving crypto communities in these countries.”No KYCThe crypto exchange and ATM business claims to offer a no KYC exchange policy, which sets it apart in an increasingly regulated landscape. As a Luxembourg-registered entity, Bitgamo classifies cryptocurrencies as commodities, adhering it says, to the legal framework of its home country.While the convenience of a no KYC approach is evident, it appears to be going against the current trend and recent regulatory pressures. Earlier this year Seychelles-based cryptocurrency exchange KuCoin implemented mandatory KYC. Bitget, another Seychelles-based exchange, followed suit earlier this month, while another Asia-centric exchange, OKX, has tightened its KYC policy.Online concernBitgamo isn’t well known and with that, this recent announcement has sparked some in the crypto community to express doubt. One individual on crypto-Twitter wrote: “This is a scam…don’t fall for it!” . . . “Raising awareness as their paid press releases are currently doing the rounds, trying to lure in victims.”Meanwhile, a YouTuber called “Negocios TV” urged caution relative to what it described as a possible scam. It’s certainly true to say that there’s very little information in the public sphere relative to Bitgamo and with that, market participants will need to do their own due diligence. Equally, we are not aware if these concerns are real or misplaced.If the offering is in fact legitimate, then it’s a very positive development. Crypto ATMs have often acted as the first touch-point for many individuals in accessing digital currency. Recent years have seen a considerable increase in the global network of crypto ATMs, offering those who want to onboard into the crypto sphere easy access to doing so and possibly purchasing their first digital currency.

South Korean NFT trading platform Eggverse has signed a strategic business agreement with blockchain gaming platform operator Weracle to target the global market for NFT-linked gaming and expand the ecosystem, according to local news site ZDNet on Thursday (KST). The two firms plan to sketch a business model and implement specific strategies to provide differentiated and more convenient gaming experiences for users by making trading NFTs faster and easier.Photo by Choong Deng Xiang on UnsplashCollaborative expansion"With our years of project experience with leading partners in each field and our in-house technology, we expect to create strong synergies in expanding the global gaming ecosystem of both companies," Eggverse said. "Through this collaboration, we will promote various types of Web3 games in new marketplaces. We expect it will yield the biggest progress among the events we plan to organize in the first half of 2024." Popularizing digital assetsBased in Singapore, Weracle provides a variety of services, including swapping its own governance token, Weracle (WERAC), and Weracle Wallet, which allows users to store and manage game NFTs. Eggverse, on the other hand, is known for its Web3-compatible service that allows customers to mint and resell real-life items like hotel vouchers and artwork as NFTs – the first of its kind in South Korea. Last November, the platform signed a business deal with Asian blockchain hub SPLabs to venture into the Southeast Asian Web3 market.

Rotonda and Bithumb META to Co-Host Next Block 2023 Conference for Web3 CollaborationsRotonda, a subsidiary of Korean crypto exchange Bithumb and the operator of the Web3 Burrito Wallet, and Bithumb META, the exchange’s metaverse subsidiary, said Friday they will jointly host the Next Block 2023 conference. The conference’s main objective is to explore new business collaboration opportunities in building a new ecosystem for accelerating Web3 projects.“We are pleased to offer a space for interaction where virtual asset exchanges, wallets, and NFT marketplaces — which constitute the core infrastructure of the Web3 industry — can work together to set the stage for an innovative future of blockchain business,” a representative from Burrito Wallet said.Photo by CHUTTERSNAP on UnsplashExploring Web3 and industry insightsThe inaugural Next Block conference is scheduled for September 4 at Amoris Hall in Yeoksam GS Tower located in Seoul.Bithumb is the main sponsor of the conference, and more than 15 companies from various sectors including decentralized finance (DeFi), Play-to-Earn (P2E) gaming, venture capital, and securities are set to attend. A total of ten companies will pitch business ideas, deliver keynote speeches, and participate in panel and networking sessions. Topics to be covered for the event include transitioning to Web3 and discovering new opportunities and paradigms through blockchain.Junbo Yang, investment manager at Hong Kong’s HashKey Capital, and Kim Do-hyung, CEO of blockchain-based investment banking platform Finhaven, will deliver the keynote speeches, discussing the various perspectives of investment and security tokens. Companies like Property Heroes, Oasis, Mineral Hub, and more will participate in the panel discussions.Key business opportunitiesIn particular, the companies that give business pitches will have the chance to present their business models directly to venture capitalists and key industry figures. They can subsequently gain access to broader networking and promotional possibilities.