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SpankChain and Blockchain Tech: Freedom of Self-Expression

SpankChain has managed to differentiate itself from its ICO and actually deliver a stable, usable platform for many users. Since

The post SpankChain and Blockchain Tech: Freedom of Self-Expression appeared first on CoinStaker | Bitcoin News.

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SpankChain is not your typical startup. It’s actually centered around porn and it managed to raise $6 million for its ICO back in 2017. Maybe not being a typical startup or ICO is just what SpankChain needs to make it nowadays.

SpankChain has managed to differentiate itself from its ICO and actually deliver a stable, usable platform for many users. Since the site launched in April to late October, it has paid over $70 000 to over 30 camgirls. Some of the camgirls are actually making more on SpankChain than on any other porn site out there.

A camgirl by the name of River Sunshine said that she is in the business for over 5 years now. The model stated that working on 3 websites simultaneously earned her 6% of her current profits from a single month on SpankChain alone. Molly Mae Meow has been in the business even longer and she also makes way more money on the porn startup than on mainstream porn sites.

The key reason for camgirls getting so much money off SpankChain is that it charges only 5% of the models’ earnings. Traditional sites usually charge between 40 and 50%. Sunshine and Molly are now prime examples of how crypto can help camgirls take more of their earned money.

SpankChain gives users the option to become HODLers

The girls will usually cash out the SPANK tokens for weekly expenses and keep the majority of crypto as a long-term investment. If this same system was used by camgirls exactly one year ago, they would be making more in a day than the highest paid porn actresses. Even now, despite the very harsh market conditions, SpankChain has over 20 new performers signing up each week.

There are of course many questions about how legal everything is, especially in the United States. Ameen Soleimani, the CEO of SpankChain used to company’s public discord to assure users on their safety from regulators. He stated that there are absolutely no concerns about regulators hindering the growth of SpankChain’s ecosystem. That’s because the developers are keeping the token off major exchanges and they never discussed price appreciation for the token.

SpankChain’s CEO also commented that his company was not in any cotact with the United States Securities and Exchange Commission, but he would be more than happy to cooperate with them if the need ever arises.

The tokenized holdings however, are not the sole reason camgirls are joining SpankChain. Models having more control over their assets is great, but SpankChain also gives far more room for creativity. Mainstream porn sites, usually work with credit card processors and they ban many of the fetish performances like fake blood, roleplay etc. Models on SpankChain can do many such shows without any fear of being shut down.

Many performers were also affected by the SESTA-FOSTA bill, which passed through Congress earlier this year. So models on SpankChain are more than happy to have control over their own cash out process. The site’s system allows for instant access to funds due to not having to deal with credit card chargebacks.

One of the biggest benefits for performers is that they have freedom to shape their own shows. This means that even if they decide to do a reading or cooking show, no one can force them to do otherwise. The freedom and growth achieved in this sector alone is just a glimpse of what crypto can do for the entire world.

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Source: https://www.coinstaker.com/spankchain-blockchain-freedom/

Blockchain

Avalanche raises $230M following sale of >1500% returning AVAX

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This season of the crypto-market has highlighted altcoins and altcoin projects that have been striving to bridge the gaps existing in the industry. Avalanche is one such project, with the same in the news today after it raised $230 million from the sale of its cryptocurrency, AVAX.

According to the foundation behind the blockchain, Avalanche received this sum of investment through a private sale to a group led by Polychain and Three Arrows Capital.

Reportedly, R/Crypto Fund, Dragonfly, CMS Holdings, Collab+Currency, Lvna Capital, and a group of angel investors and family offices also participated in the investment round. The token sale was completed in June and the objectives of the foundation were to support and accelerate the growth of decentralized finance [DeFi], enterprise application, and other use cases on the Avalanche public blockchain.

Its token AVAX has recorded tremendous growth, despite the market trend being increasingly bearish. The asset, at press time, was returning 1,589% to investors year-to-date after it rallied to $63.62. AVAX also registered a strong surge of almost 30% in one 24-hour window, a consequence of the latest updates to the ecosystem.

Another reason why the blockchain surged higher was the onboarding of several blue-chip DeFi projects like Aave, Curve, and SushiSwap. On Wednesday, Avalanche Foundation asked for ‘signaling’ from the Aave community to accept a deployment of the Aave protocol into Avalanche.

Aave ecosystem could leverage Avalanche’s blockchain due to scalability, high throughput, and near-instant finality. According to the blog,

“Through the Avalanche Rush program, the Avalanche foundation has allocated up to $20M AVAX for users of the Aave protocol over a three-month period to earn AVAX rewards while using Aave on Avalanche for the first phase of the program. This program will bring new users to the platform, and reach more users from the established Avalanche community.”

It added,

“Having the Aave community embrace deployment on established chains like Avalanche will allow more users to access Aave’s offerings across the DeFi ecosystem.”

With competition between layer one protocols heating up, Avalanche has been trying to secure a top position. According to Emin Gün Sirer, Director at the Avalanche Foundation, there is “still so much potential yet to be tapped at the intersection of institutional and decentralized finance on Avalanche.”

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Source: https://ambcrypto.com/avalanche-raises-230m-following-sale-of-1500-returning-avax

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Scaramucci’s SkyBridge Capital Secures $100M For Algorand Fund, Files For Crypto ETF

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Scaramucci’s SkyBridge Capital Secures $100M For Algorand Fund, Files For Crypto ETF

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The number of cryptocurrency-focused exchange-traded funds (ETFs) applications in the U.S. has been growing as several asset management companies have shown interest in offering their clients exposure to cryptocurrencies via regulated exchanges.

In an SEC filing on September 14, SkyBridge Capital became the latest to apply for a crypto-focused ETF – the First Trust SkyBridge Crypto Industry and Digital Economy ETF. According to the filing, if approved, the ETF will invest about 80% of its assets in companies representing the crypto-industry. This also means that the ETF will not have direct exposure to cryptocurrencies.

More recently, Anthony Scaramucci, the founder of the firm and former Whitehouse Communications Director, revealed that the investment firm now had over $700 million in crypto investments and intends to increase its positions in the market even further.

He stated this during an interview with CNBC Television yesterday in the aftermath of the ongoing SALT Conference New York 2021. During the interview, Scaramucci revealed that the firm was starting an Algorand fund that will be capped at $250 million and had already raised over $100 million.

Remarkably, the firm first added Bitcoin to its portfolio last and in July revealed that Bitcoin was the largest contributor to gains this year at the firm according to a Financial Times report. The firm has previously filed applications for both Bitcoin and Ethereum ETFs.

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Another notable cryptocurrency ETF development was the report that Fidelity Digital Assets met with SEC officials privately to push for the approval of their proposed bitcoin exchange-traded fund and argued the cryptocurrency market is now big enough to support it.

According to a Business Insider report, in the meeting, the firm cited an in-house survey that showed that bitcoin exchange-traded products held massive appeal to US institutions. They also argued that institutions had a strong interest in digital assets, and a significant number of institutional investors already hold cryptocurrencies. 

This argument has been made by other companies but has so far not swayed the SEC. The crypto-industry has been applying for cryptocurrency-focused ETFs for around eight years with the first being from Bitcoin billionaires, the Winklevoss brothers. Since then the SEC has been denying the application.

In 2021, there are more than 20 companies that have filed for crypto-focused ETFs with the SEC. Some include Galaxy Digital, VanEck, and Valkyrie Investments, all notable investment managers.

The SEC is yet to approve any of the applications. Gary Gensler, the SEC chair has stated that the commission is being cautious with the industry so as to be able to protect consumers maximally. However, there are speculations that approval may arrive before the end of this year. Just last month, Eric Balchunas and James Seyffart – Bloomberg’s in-house ETF analysts – on Tuesday published an investor note that speculated that a Bitcoin ETF approval may likely arrive in October.

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Source: https://zycrypto.com/scaramuccis-skybridge-capital-secures-100m-for-algorand-fund-files-for-crypto-etf/

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Shiba Inu Token Is Up 25% Following Coinbase Listing

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Source: https://cryptobriefing.com/shiba-inu-token-is-up-25-following-coinbase-listing/?utm_source=main_feed&utm_medium=rss

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