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Excitement grows with airdrop requests and the release of version 2

BlockChainGuardian Staff

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Excitement grows with airdrop requests and the release of version 2
  • Friend.tech, the social media app on Base, has launched version 2 (V2) and distributed its FRIEND token to its first users.
  • The event did not go smoothly, with several eligible airdrop recipients unable to claim their tokens and the first recipients dumping all their tokens and dropping the price.

FriendTech, the decentralized social media app that launched to wide reception and has quickly become a cryptocurrency industry darling, has launched its version 2 and airdropped its FRIEND token.

The platform launched last August and was an instant success, for a short time overcoming Bitcoin and Uniswap for transaction fees and bringing the Basic Layer 2 network to the mainstream, as reported by Crytpo News Flash. However, shortly after, the hype faded and by the end of the year, few were using it.

To reignite the buzz, the developers of the social media project announced that they would launch the FRIEND token in late April before delaying it to May 3. They kept their word and distributed 13,349,967 FRIEND tokens to early adopters of its platform.

However, the airdrop and launch of the V2 did not go as planned. For starters, several users were unable to claim their tokens, prompting X’s outrage. One of these offended users, famed cryptocurrency investor and analyst Luke Martin, he wrote:

I watch the value of my airdrop go from 7 figs to 5 figs in the span of 2 hours as I keep refreshing the page trying to claim…still can’t claim. Meanwhile I have to watch this guy cash out while my wallet doesn’t even charge. He adds insult to injury.

Many others expressed similar sentiments. A user complained: “Literally all my friend.tech points are gone, and I have 0 FRIENDS to claim?”

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Friend.tech airdrop goes wrong, V2 glitch

Beyond the airdrop issues, FRIEND tokens are off to a horrible start. Second DexScreenerthe token launched at around $3 and rose rapidly, hitting a high of $18.3 shortly thereafter (it also reached a high of $169, but only for a few seconds before normal market conditions resumed).

However, once users started receiving the tokens, some immediately abandoned them, causing the price to plummet. As of this writing, FRIEND is trading at $1.19.

The largest airdrop recipient, known only as Murphys1d, received 50,000 FRIEND tokens and immediately dumped them, drawing the ire of the entire Friend.tech community.

However, whale dumping in the community is nothing new. Each launch is followed by an immediate dump from a growing group of launch farmers. According to Andy Lian, an industry expert, this should not faze true believers in the underlying value of blockchain. He told an outlet:

While it may cause a short-term price drop due to increased supply and potential panic selling, it does not always mean a long-term downward trend. For me that’s a good thing […] The sell-off would mean a more decentralized distribution of tokens. Wider distribution reduces the risk of a single entity having too much control over the project.

It’s not just airdrop glitches and token dumps that plague Friend.tech. The most recent version of the project, V2, launched with major problems. Users interested in the Club feature were unable to access it with V2.

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Hollywood.ai by FAME King Sheeraz Hasan Promulgates a Complete Ecosystem that Unites Web3, Cryptography, AI and Entertainment for Spectacular Global Tech Innovation

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Hollywood.ai by FAME King Sheeraz Hasan Promulgates a Complete Ecosystem that Unites Web3, Cryptography, AI and Entertainment for Spectacular Global Tech Innovation

The one and only FAME King Sheeraz Hasan is launching Hollywood.ai, a revolutionary platform designed to integrate the cutting-edge realms of Web3, cryptocurrency, AI, finance and entertainment. This revolutionary initiative is set to create a seamless, interactive and intuitive ecosystem where the world’s leading technology luminaries can collaborate on innovations, ultimately redefining the future of digital interaction.

Hollywood.ai represents the convergence of the most complex technologies of all time. Fusing Web3 principles, cryptocurrency utilities, AI advances, and financial machinery, Sheeraz’s platform aims to become the nucleus for innovation and modernization. It provides a high-tech environment where technology and creativity collide harmoniously, paving the way for new paths in the digital economy.

A defining feature of Hollywood.ai is the integration of cryptocurrency into the AI ​​ecosystem, transforming AI into a tokenized asset with full cryptographic utility. Sheeraz’s novel approach presents new avenues to leverage the myriad capabilities of AI in the financial realm, unlocking unprecedented opportunities for developers and users alike. Through the amalgamation of AI and cryptocurrency, Hollywood.ai is paving the way for an incredibly interconnected digital space unlike anything seen before.

The platform’s design emphasizes the undeniable symbiosis between various technology sectors. Under Sheeraz’s careful orchestration, Web3 technologies facilitate decentralized collaboration, while AI tools offer enhanced potential for data analytics, content creation, and audience engagement. Additionally, the inclusion of financial innovations ensures rapid mobility of both monetization and investments, providing a holistic environment that meets the ever-evolving demands of the technology and entertainment segments.

Sheeraz’s Hollywood.ai is poised to become the premier hub for industry leaders, developers, and creators to support and empower the next generation of digital experiences. This initiative aspires to drive the emergence of new tools, applications, and services that set new standards for advanced engagement and interaction.

Known for making the impossible possible, Sheeraz envisions a future where global audiences actively participate in designing the next A-list stars from scratch. Hollywood.ai will allow users to watch their creations evolve from simple concepts to 3D talents that can act, sing and perform just like human actors.

The Hollywood.ai platform leverages AI technology to deliver personalized fan engagement, real-time sentiment analysis, and informed content creation. By combining cutting-edge AI capabilities with Sheeraz’s deep understanding of celebrity branding, Hollywood.ai gains immense control over public figures.

Undeniably, FAME’s number one strategist Sheeraz Hasan continues to cement his reputation as a pioneer in the fields of FAME and technology. The power and influence of this latest development brings him closer to total world domination.

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Online Broker Futu Offers Cryptocurrency Trading in Hong Kong, With Nvidia and Alibaba Stock as Rewards

BlockChainGuardian Staff

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Online Broker Futu Offers Cryptocurrency Trading in Hong Kong, With Nvidia and Alibaba Stock as Rewards

Futu Securities International, Hong Kong’s largest online broker, has launched retail cryptocurrency trading in the city, offering shares of Alibaba Holding Group AND Nvidia as a reward in an attempt to attract investors. Futu has begun allowing Hong Kong residents to trade Bitcoin and ether, the world’s two largest cryptocurrencies, directly on the brokerage platform using Hong Kong or U.S. dollars, the company announced Thursday.

The online retail broker said last month that it had received an upgrade to its securities license from the Securities and Futures Commission (SFC), allowing Futu to offer virtual asset trading services to both professional and retail clients in the city.

Futu’s move comes as Hong Kong seeks to boost its attractiveness as a business hub for virtual assets, with the city government launching a series of new cryptocurrency policy initiatives over the past two years, including a mandatory licensing regime for cryptocurrency exchanges.

In addition to offering cryptocurrency trading on its flagship brokerage app, Futu is also seeking a cryptocurrency trading license for its new PantherTrade platform. That platform is among 11 in Hong Kong that are currently “deemed licensed” for cryptocurrency trading, an arrangement that allows them to operate in the city while they await full approval from the SFC.

Hong Kong’s progress in becoming a crypto hub has encountered various challenges, including exit of the major global platforms and relatively low trading activity for cryptocurrency exchange-traded funds offered on local stock exchanges.

Futu is now offering a series of incentives to potential investors, amid a cryptocurrency bull market that has seen the price of bitcoin rise 45 percent this year.

Hong Kong investors who open accounts in August and deposit HK$10,000 (US$1,280) over the next 60 days can receive HK$600 worth of bitcoin, a HK$400 supermarket voucher or a single Chinese stock. e-commerce giant Alibaba. Alibaba owns the South China Morning Post.

By holding 80,000 U.S. dollars for the same period, users can get 1,000 Hong Kong dollars in bitcoin or a share of U.S. artificial intelligence (AI) chip maker Nvidia, whose shares have risen more than 140 percent this year.

A Futu representative said the brokerage firm will also waive cryptocurrency trading fees starting Thursday until further notice.

Futu is the first online brokerage in Hong Kong to allow retail investors to buy cryptocurrency directly on its platform. SFC rules require it to offer this service through a tie-up with a licensed cryptocurrency exchange. Futu is partnering with HashKey Exchange, one of only two licensed exchanges in Hong Kong, according to the representative.

Futu’s local rival Tiger Brokers also said in May that it had begun offering cryptocurrency trading services to professional investors on its platform following a license update. The SFC defines professional investors as those with more than HK$8 million in their investment portfolios or corporate entities with assets exceeding HK$40 million.

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Tech Crash: $2.6 Trillion Market Cap Vanishes as ‘Magnificent 7’ Prices Stumble

BlockChainGuardian Staff

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Tech Crash: $2.6 Trillion Market Cap Vanishes as ‘Magnificent 7’ Prices Stumble

A group of seven megacap tech stocks, often called the Magnificent 7, have lost more than $2.6 trillion in value over the past 20 days, or an average of $125 billion per day over the period. In total, these stocks have lost “three times the value of the entire Brazilian stock market.”

This according to the economic news agency Letter from Kobeissiwho noted on the microblogging platform X (formerly known as Twitter) that the Magnificent 7 batch “is worth as much as Nvidia’s entire current market cap in 20 days,” with Nvidia itself having lost $1 trillion from its high.

Source:Letter from Kobeissi on the X

The group, which includes Nvidia, Microsoft, Amazon, Apple, Alphabet, Meta and Tesla, has undergone a significant correction: in the last 20 days Nvidia has lost 23% of its value, or about $800 billion, while Tesla has fallen 19%, losing $164 billion.

Microsoft, Apple, Amazon, Alphabet and Meta all posted losses of between 9% and 15%, losing between $257 billion and $554 billion in market capitalization, wiping out a total of $200 billion more “than every single German stock market tock combined.”

Tech titans, which have outperformed the broader S&P 500 index since the market bottom of 2022, are now facing a reckoning as investors grow increasingly wary about the sustainability of their meteoric rise, with Nvidia taking the lead soaring 110% since the beginning of the year and over 2,300% in the last five years.

Earnings reports from these companies, starting with Microsoft and culminating with Nvidia in late August, will be closely watched for signs of weakness. Their performance could set the tone for broader market sentiment, with implications for everything from cryptocurrency to other high-risk assets.

Their poor performance comes after a leading macroeconomist, Henrik Zeberg, reiterated his forecast of an impending recession that will be preceded by a final wave in key sectors of the market, but which can potentially be the worst the market has seen since 1929the worst bear market in Wall Street history.

In particular, the Hindenburg Omen, a technical indicator designed to identify potential stock market crashes, began flashing just a month after its previous signal, raising concerns about a possible impending stock market downturn.

The indicator compares the percentage of stocks hitting new 52-week highs and lows to a specific threshold. When the number of stocks hitting both extremes exceeds a certain level, the indicator is said to be triggered, suggesting a greater risk of a crash.

Featured Image via Disinfect.

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Trump Fights for Cryptocurrency Vote at Bitcoin Conference

BlockChainGuardian Staff

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A large conference hall filled with enthusiastic attendees, Bitcoin logos prominently displayed, and a podium with an American flag

To the Bitcoin Conference 2024 In Nashville, Tennessee, former President Donald Trump delivered a keynote speech.

Trump, the Republican presidential candidate, used the platform to appeal to the tech community and solicit donations for the campaign. During the conference, He said:

I promise the Bitcoin community that the day I take the oath of office, Joe Biden and Kamala Harris’ anti-crypto crusade will be over… If we don’t embrace cryptocurrency and Bitcoin technology, China will, other countries will. They will dominate, and we can’t let China dominate. They are making too much progress as it is.

Trump’s speech focused heavily on cryptocurrency policy, positioning it as a partisan issue. He said that if reelected, he would fire SEC Chairman Gary Gensler on his first day in office, a statement that drew enthusiastic applause from the audience. This statement marked a stark contrast to Gensler’s tenure, which has been characterized by rigorous oversight of the cryptocurrency industry.

The former president outlined several pro-crypto initiatives he would undertake if elected. These include transforming the United States into a global cryptocurrency hub, keeping all government-held Bitcoin as a “national Bitcoin reserve,” establishing a presidential advisory council on Bitcoin and cryptocurrency, and developing power plants to support cryptocurrency mining, emphasizing the use of fossil fuels.

Trump’s current embrace of cryptocurrencies represents a reversal from his stance in 2021, when described Bitcoin as a “scam against the dollar.” He also noted that his campaign has received $25 million in donations since accepting cryptocurrency payments two months ago.

The event featured other political figures, including Republican Senators Tim Scott and Tommy Tuberville, as well as Democratic Representatives Wiley Nickel and Ro Khanna. Independent presidential candidate Robert F. Kennedy Jr. also spoke at the conference.

Trump’s appearance at Bitcoin 2024 reflects growing support for his campaign from some tech leaders, including Tesla CEO Elon Musk and cryptocurrency entrepreneurs Cameron and Tyler Winklevoss.

While Trump has described the current administration as “anti-crypto,” Democratic Congressman Wiley Nickel said Vice President Kamala Harris is taking a “forward-thinking approach to digital assets and blockchain technology.”

This event underscores the growing political importance of cryptocurrency policy in the upcoming presidential election.

Kamala Harris and Democrats Respond on Cryptocurrencies

In a strategic move to repair strained relations, Vice President Kamala Harris’ team has initiated a dialogue with major cryptocurrency industry players. This outreach aims to restore the Democratic Party’s stance on digital assets and promote a more collaborative approach.

THE Financial Times reports that Harris’s advisors have reached out to representatives from industry leaders like Coinbase, Circle, and Ripple Labs. This move comes as the cryptocurrency community increasingly supports Republican candidate Donald Trump, reflecting growing dissatisfaction with the current administration’s cryptocurrency policies.

THE disclosure follows a letter from Democratic lawmakers and 2024 candidates urging the party to reevaluate its approach to digital assets. Harris’s team stresses that this effort is less about securing campaign contributions and more about engaging in constructive dialogue to develop sensible regulations.

The move is part of a broader strategy to reshape the Democratic Party’s image among business leaders, countering perceptions of an anti-business stance. Harris’ campaign aims to project a “pro-business, responsible business” message.

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