The cryptocurrency world is still hanging in the balance, but more opportunities are here, especially from Bybit's upcoming World Series of Trading (WSOT) 2023 in August.
Last week, Google Play has eased its policies regarding blockchain-related apps. However, there is still some negativity in the industry, especially with fraud cases present and the recent one leading to the arrest of Celsius' former CEO and CRO.
Bybit's Upcoming World Series of Trade 2023
Bybit unveiled its grand crypto spectacle last week. The World Series of Trade 2023 will reportedly open its gates for general registration from July 24 to August 17. It will offer traders a chance to secure their spot among elite contenders worldwide. The leader registration phase happened on July 13.
The main event begins on August 7 when traders clash using strategies and lightning-quick decisions. This year's competition is one of the world's largest crypto trading events, featuring another record-breaking prize of up to $8 million and a live stream giveaway that offers traders a chance to win Huracan Evo Spyder Lamborghinis and Rolex Explorers on August 24.
This is the event's fourth edition, but this will be the first time the exchange will make demo trading available to participants to make trading competitions more accessible to beginners. Influential traders and megastars such as The Moon, CryptoBanter, GINAREA, and Cornix will reportedly participate.
Bybit's WSOT has grown in recent years, with almost 117,000 traders worldwide between 2020 and 2022, which resulted in a trading volume of more than $177 billion.
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In this photo illustration of the litecoin, ripple and ethereum cryptocurrency 'altcoins' sit arranged for a photograph on April 25, 2018 in London, England. Cryptocurrency markets began to recover this month following a massive crash during the first quarter of 2018, seeing more than $550 billion wiped from the total market capitalisation.
Google Play's Blockchain-Based Games
Google Play is now easing its policies regarding blockchain-related apps. As it updated its store policy, Google Play revealed new rules allowing and regulating blockchain games and apps, which are set to completely roll out before the year ends.
The latest policy change will allow apps and games which incorporate NFTs into the store. It will open new ways to transact with NFTs and other tokenized digital assets within apps and games on Google Play. The move is the company's response to the growing interest in tokenized digital assets, such as non-fungible tokens (NFTs).
However, the policy change comes with a few limitations, such as apps must be transparent with users about tokenized digital assets, and developers are not allowed to promote or glamorize any potential earnings from playing or trading activities.
The apps should also meet Google Play's gambling eligibility requirements. If not, they cannot accept money for a chance to win assets of unknown real-world monetary value, including NFTs.
Former Celsius CEO, CRO Charged With Crypto Fraud
Law enforcement officials arrested Celsius CEO Alex Mashinsky because of alleged securities fraud, suspected of misleading and manipulating investors on the company's token price, CEL.
The company recently collapsed and declared bankruptcy, with Celsius agreeing to a $4.7 billion settlement to pay off its investors and customers.
The federal regulators charged Celsius with defrauding investors of billions, while Mashinksy faced securities, commodities wire, and fraud charges.
However, it was not only Mashinsky who was charged as the company's former chief revenue officer (CRO) Roni Cohen-Pavon also faced a fraud case.
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