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Hoops Game 'Rumble Kong League' Ditches Avalanche for Ethereum and Ronin
Backed by NBA stars Stephen Curry and Paul George, mobile basketball game Rumble Kong League will launch on Ronin instead of Avalanche.
Rumble Kong League, a mobile basketball game with ties to NBA superstars Steph Curry and Paul George, announced plans to migrate its game to Ethereum sidechain Ronin, leaving behind plans to launch on Avalanche.
Ronin is a prominent gaming chain that plays host to popular games such as Pixels and Axie Infinity. Rumble Kong League's developers cited Ronin’s 17.2 million wallet downloads and 18.9 million RON token holders as reasons why the migration is “massive” for RKL.
“This isn’t just a partnership, it’s a slam dunk for the future of RKL and our holders,” the project posted on X (formerly known as Twitter).
Rumble Kong League initially announced plans to launch its 3v3 basketball game on Avalanche back in August 2023 as it sought out a blockchain to help scale its game. The project still has “onchain Avalanche integration” listed among items that are “next up” in its publicly available roadmap items, but that integration will now happen on Ronin instead. Read More
How to buy Bitcoin in South Africa
Buying Bitcoin in South Africa involves choosing a reputable exchange, verifying your identity, depositing funds, placing an order and securing your Bitcoin in a personal wallet.
Bitcoin is legal in South Africa, and there is growing support for cryptocurrencies among individuals, businesses and the regulatory environment. It’s important to note that Bitcoin is not considered legal tender or money in South Africa.
The South African Reserve Bank (SARB) views Bitcoin as a digital asset rather than a currency. This means the use and acceptance are not yet widespread in day-to-day life. Many South Africans still invest in Bitcoin by buying, selling and trading it on several platforms and exchanges.
In fact, 18% of South African internet users under 64 years old hold cryptocurrencies. That’s the highest adoption rate across Africa. By the end of 2024, the South African government had issued 59 operating licenses for crypto businesses.
The legal status and growing adoption rate show a favorable environment for Bitcoin. The government has also established a regulatory framework to better protect investors against fraudulent activities while still fostering growth and innovation in the sector.
This regulation includes guidelines for “a digital representation of value,” making crypto a financial product subject to the Financial Advisory and Intermediary Services Act (FAIS). All crypto service providers must be granted permission by the FAIS to operate. Read More
Winklevoss twins’ Gemini exchange selects Malta as Europe MiCA hub
The biggest challenge in MiCA compliance was allocating resources to build the required infrastructure, Gemini’s head of Europe said.
Winklevoss twins-founded cryptocurrency exchange Gemini is working to ensure compliance with Europe’s crypto regulations by setting up a dedicated hub in Malta.
Gemini chose Malta as its hub for compliance with the European Union’s Markets in Crypto-Assets (MiCA) framework, according to an announcement shared with Cointelegraph on Jan. 20.
The move came shortly after Gemini received its sixth European virtual asset service provider (VASP) registration from the Malta Financial Services Authority (MFSA) in December 2024.
According to Gemini, Malta’s proactive approach to supporting fintech innovation and the crypto ecosystem presents an ideal environment for the exchange to drive its operations in Europe. Read More
Bitcoin DeFi takes center stage
A wave of new projects and innovations is increasing utility to the Bitcoin ecosystem, expanding its use beyond a static store of value.
Bitcoin is the oldest, most prominent, most secure blockchain and asset in the crypto space. Recently, it proved critics wrong by setting a new all-time high and breaking the psychologically significant barrier of $100,000, and continuing to break new all-time highs. While its adoption is steadily increasing, its primary use case has changed over the last 15 years since its inception. It was initially created as a peer-to-peer digital currency, but it has evolved to be seen as digital gold.
While the digital gold narrative is attracting increased institutional and retail interest — as can be seen by the record inflows in Bitcoin exchange-traded funds since their launch in January 2024 and the recent new all-time high — the vast majority of Bitcoin is sitting idle in wallets and is unproductive. With a market capitalization of over $2 billion, there is a vast untapped potential to put Bitcoin’s liquidity to work.
Fortunately, a fast-growing sector of Bitcoin decentralized finance (DeFi) applications and layer-2s is unlocking Bitcoin’s liquidity by creating a native DeFi ecosystem that will be one of the hottest new sectors in crypto during 2025.
Increased activity and adoption of Bitcoin L2 and DeFi projects:
Crucial for Bitcoin DeFi to become a reality are Bitcoin L2 solutions, as Bitcoin itself has limited smart contract capabilities. In the last three years, the number of L2s has grown to over 75 projects. Various L2s are gaining traction and maturing, such as Pantera-backed Mezo, which recently launched its testnet and is planning its mainnet launch for Q1 2025. Likewise, BOB, which enables Bitcoin DeFi in Ethereum Virtual Machine-compatible environments, has attracted over 300,000 unique users since its launch in May 2024. Read More
The Significance Of Markethive Amidst The Crypto Renaissance
A profound economic transformation is on the horizon, driven by the transformative power of cryptocurrency and the decentralized technologies of Web 3. This seismic shift will be remembered as a pivotal moment in human history, rivaling the transformative impact of the original Renaissance. In the 15th century, groundbreaking innovations like ledgers and the printing press sparked the Renaissance and forever altered the course of global development. Similarly, the crypto renaissance is set to bring about positive changes in the global economy, offering a sense of optimism and reassurance.
This article highlights the correlation between the historical Renaissance, where populations were essentially freed from a life of serfdom, and the pervading crypto renaissance we see unfolding today. We also discuss the importance of Markethive’s position and how it aligns with this economic resurgence. Markethive, a decentralized platform, plays a crucial role in this revolution, enabling autonomy, financial sovereignty, and wealth distribution in a dynamic crypto-enabled ecosystem. It marks the creation of a renaissance within Markethive, positioning it as a key player in the crypto renaissance.
In medieval times, access to education was primarily reserved for the upper echelons of society. Fewer than one in twenty individuals received any kind of formal instruction, which frequently excluded basic literacy skills. However, the Renaissance era ushered in two groundbreaking technological advancements that would have a lasting impact on human history: the development of ledgers and the invention of the Gutenberg printing press. Read More
Ethereum Foundation to set aside 50K ETH to support DeFi apps
The Ethereum Foundation’s move to support Ethereum’s DeFi ecosystem comes after months of criticism accusing it of not caring enough about the space.
The Ethereum Foundation said it will allocate 50,000 Ether worth around $165 million to support Ethereum’s decentralized finance ecosystem.
Ethereum co-founder Vitalik Buterin wrote on X on Jan. 20 that the nonprofit foundation would undergo organizational changes to more actively support app builders and provide more transparency to the community.
The funds will be secured in a three-of-five multisig wallet on Safe, which has already executed a test transaction on lending protocol Aave, the Ethereum Foundation’s Hsiao-Wei Wang said in a Jan. 20 X post.
However, it could take a few days to set the wallet up, Wang noted.
Reaping the rewards from the Ethereum network’s DeFi ecosystem could expand the foundation’s treasury, which has fallen 56% from 617,000 Ether in January 2020 to 269,000 Ether — worth around $894 million, Arkham Intelligence data shows.
The promised 50,000 Ether represents 18.5% of the Ethereum Foundation’s total holdings. Read More
Protecting Web3 users from phishing and scams — Interview with Web3 Antivirus
Web3 Antivirus founder Alex Dulub explains how innovative tools detect and neutralize risks in the decentralized web.
A new breed of cyber threats lurks in the shadows as the decentralized web continues to grow. Sophisticated phishing attacks and malicious smart contracts increasingly target unsuspecting users, exploiting the very features that make blockchain technology revolutionary.
Understanding these threats is crucial in Web3, where transactions are irreversible, and digital assets can be lost instantly. For participants, navigating this complex landscape requires vigilance and innovative solutions tailored to the challenges of the decentralized internet.
Amid these rising threats, industry experts like Web3 Antivirus founder Alex Dulub are hard at work to safeguard the Web3 community. With extensive experience in blockchain technology, Dulub recognized a critical gap in user protection and founded Web3 Antivirus (W3A), an open-source browser extension designed to shield users from the multifaceted dangers of the decentralized internet.
“Security is a major issue in the cryptocurrency world,” Dulub explained. “Cryptocurrencies, being decentralized and digital, are susceptible to various forms of cyberattacks. They can be easily transferred and stolen without the possibility of recovery, unlike traditional bank accounts.”
This vulnerability has made digital assets an attractive target for scammers who continuously devise new schemes to exploit users.
One of the most prevalent threats is phishing — malicious actors creating counterfeit websites or applications that mimic legitimate platforms to steal private keys and seed phrases. Read More
Ethereum Foundation exploring ways to minimize staking concerns — Vitalik
Ethereum co-founder Vitalik Buterin said that if the Ethereum Foundation stakes its ETH, that forces it to take a position on any future contentious hard fork.
As Ethereum community members call for the Ethereum Foundation to stake its Ether and earn interest to cover the organization’s expenses instead of selling its tokens, Ethereum co-founder Vitalik Buterin said the foundation is exploring ways to minimize its staking concerns.
On Jan. 20, Josh Stark, who works at the Ethereum Foundation, explained that the organization uses the Ethereum mainnet to swap Ether for stablecoins and to pay people with stablecoins and ETH, both on the mainnet and on layer-2 blockchains.
He said the organization also uses the mainnet for events like Devcon and Devconnect to take onchain payments.
In response, prominent members of the Ethereum community discussed the idea of the Ethereum Foundation staking their ETH to cover the nonprofit’s expenses instead of selling their ETH. Read More
Utah Proposes Bill to Invest Public Funds in Crypto
The state of Utah has introduced comprehensive legislation that would authorize its state treasurer to invest public funds in digital assets.
Joining a wave of national interest, the "Blockchain and Digital Innovation Amendments" bill (H.B. 230), introduced by State Representative Jordan Teuscher on Monday, establishes a framework that includes incorporating novel provisions for staking, lending, and self-custody rights.
"This bill reflects our commitment to embracing cutting-edge technology and preparing for the future of finance while ensuring fiscal sovereignty," Teuscher wrote on X following the bill’s submission.
The proposed legislation permits up to 10% investment from several state accounts, including the State Disaster Recovery Restricted Account, General Fund Budget Reserve Account, Income Tax Fund Budget Reserve Account, and Medicaid Growth Reduction and Budget Stabilization Account.
Based on its provisions, the bill empowers the state treasurer to “engage in staking and lending of digital assets," provided that those assets fall "under specified conditions."
To qualify for investment, digital assets must either maintain a market capitalization exceeding $500 billion (averaged over 12 months) or meet strict stablecoin criteria, including backing by dollars or high-quality liquid assets and regulatory approval from U.S. authorities. Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
Featured Image Source: Pixabay
