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Memecoin Mania Boils Over! Join Bybit Web3’s Live Stream Debate: Fad or Future?

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Featuring CryptoYapper, AltCryptoGems, BeInCrypto, and Ronny Roehrig (CEO of Cripto Avances).

DUBAI, UAE, May 22, 2024 /PRNewswire/ — Bybit Web3, the Web3 division of Bybit – one of the top three global crypto exchanges by trading volume, today announced its upcoming live stream event, “Memecoin Mavericks: Where Will the Winds of Memecoin Fate Blow?” 

Scheduled for Friday, May 24, 2024, at 8:00 AM UTC, this hotly anticipated debate composed of renowned industry experts will go head-to-head on the significance and future of memecoins within the ever-evolving Web3 landscape.

In addition to the expert firefight, the event boasts a popularity voting contest featuring nine trending and charismatic memecoins: AllYourBase, Toshi, BaseGod, Brett, Based Fellas, FOMO, Based Peaches, Poncho, and EZ. Attendees who participate in the voting will have the chance to win the most popular memecoin based on the collective votes.

“We’re thrilled to present ‘Memecoin Mavericks,’ an engaging live stream debate where industry leaders will dissect the future prospects of memecoins,” said Emily Bao, Bybit Web3 Evangelist. “This event captures the dynamic spirit of Web3 and provides a unique platform for our community to gain valuable insights, participate in lively discussions, and even win big. Join us on May 24th to explore whether meme coins are just a fleeting trend or the next big thing in crypto.”

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Why You Can’t Miss This Livestream

Meme Mania Heats Up

The memecoin market is experiencing a red-hot surge, with trading volume reaching its highest level since May 2021! This surge signifies a massive influx of interest in memecoins, with popular tokens like Dogecoin, Shiba Inu, Pepe, Floki Inu, Dogwifhat, BONK, Brett, and Toshi leading the charge. This trend coincides with the thriving network usage of Base. DeFiLlama data shows its 24-hour trading volume currently exceeding $250 million, a tenfold increase from just $25 million at the end of January.

Memecoins themselves have seen a phenomenal 195% annual increase, significantly outperforming Bitcoin’s respectable 123% rise. The total market cap for memecoins has ballooned to a whopping $51 billion, showcasing the immense potential – and inherent risk – this sector holds. But is this a sustainable trend, or a fleeting frenzy? Join our live stream to find out!

Renowned Experts. Fiery Debate.

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Witness CryptoYapper, AltCryptoGems, BeInCrypto, and Ronny Roehrig (CEO of Cripto Avances) engage in a lively debate on a range of thought-provoking themes. From the true spirit of meme culture in Web3 to the potential of memecoins on Base versus Ethereum, prepare for explosive discussions on investment drivers, memecoin trajectories, and the future of this fascinating crypto niche. 

DEX Pro Demo & Quiz with Big Rewards!

Learn about Bybit’s cutting-edge DEX Pro platform through an insightful walkthrough. Plus, test your memecoin knowledge and win up to $5,000 in trending memecoins on Base by participating in our interactive quiz during the live stream! Don’t miss out – the voting window is open now until May 31, 2024, at 11:59 PM UTC.

Bybit: Your Gateway to the Memecoin Conversation

This live stream is your chance to delve into the fascinating world of memecoins and gain valuable insights from industry leaders. Don’t be left on the sidelines – tune in and join the conversation: https://www.bybit.com/en/press/live/web3-memecoins

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#Bybit / #TheCryptoArk / #BybitWeb3

About Bybit Web3

Bybit Web3 is redefining openness in the decentralized world, creating a simpler, open, and equal ecosystem for everyone. We are committed to welcoming builders, creators, and partners in the blockchain space, extending an invitation to both crypto enthusiasts and the curious, with a community of over 1 million wallet users, over 10 major ecosystem partners, and counting. 

Bybit Web3 provides a comprehensive suite of Web3 products designed to make accessing, swapping, collecting and growing Web3 assets as open and simple as possible. Our wallets, marketplaces and platforms are all backed by the security and expertise that define Bybit as a top 3 global crypto exchange, trusted by 30 million users globally.

Join the revolution now and open the door to your Web3 future with Bybit.

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For more details about Bybit, please visit Bybit Web3.

About Bybit

Bybit is one of the world’s top three crypto exchanges by trading volume with 30 million users. Established in 2018, it offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media

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InScope secures $4.3m to revolutionise financial reporting and auditing

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InScope, a newly launched FinTech company, has successfully raised $4.3 million to expand its innovative financial reporting and auditing platform.

According to PYMNTS, the funding round included significant contributions from prominent investors such as Lightspeed and Better Tomorrow Ventures.

InScope is focused on transforming the traditional processes of financial reporting and auditing for private companies. The company leverages advanced technologies, including generative AI and large language models, to automate and streamline the compilation of financial statements—tasks that have historically been prone to errors and required extensive manual effort.

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The new capital will be used to enhance InScope’s platform capabilities. The company aims to shift accountants’ focus from laborious manual tasks to more strategic initiatives, thereby empowering finance professionals with tools to complete reporting and auditing tasks quickly and efficiently.

InScope’s system compiles data from a company’s core systems, such as ERP, along with publicly available information, and transforms these inputs into GAAP-compliant financial and audit documents.

InScope CEO and co-founder Mary Antony stated, “Our technology dramatically reduces the time and effort required for financial reporting and auditing, eliminating the need for outdated manual processes.” Her co-founder and COO, Kelsey Gootnick, also emphasized the transformative potential of InScope, which they conceived out of their own frustrations with existing financial processes.

The company has already begun collaborating with a select group of companies to refine and enhance their financial reporting capabilities. JC Bahr-de Stefano, a venture capital investor at Better Tomorrow Ventures, commented on this partnership: “InScope is already working with a handful of companies to help streamline their financial reporting needs and enable accountants to complete their reporting tasks in minutes instead of months.”

Source: fintech.global

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Citi extends USD Clearing service to Middle East in partnership with Emirates NBD

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Citi has partnered with Dubai-based banking group Emirates NBD to launch its USD Clearing service in the Middle East.

Through this collaboration, Emirates NBD will offer the USD Clearing service, along with its commercial and treasury payment execution capabilities, to corporate and retail clients via its branch networks in the UAE and Saudi Arabia. This service will enable clients to make cross-border USD payments with continuous availability, addressing current payment flow challenges posed by varying transaction cut-off times in the UAE.

“The introduction of 24/7 USD Clearing will support the growth ambitions of our clients by giving them the ability to seamlessly transfer funds in a timely manner without having to worry about cutoffs and holidays,” said Ahmed Al Qassim, group head of wholesale banking at Emirates NBD.

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Following the initial launch, the service will be extended to all Emirates NBD branches in the Middle East and globally, including partnerships with third-party institutions.

According to its website, Emirates NBD currently operates 853 branches in the UAE, Egypt, India, Turkey, Saudi Arabia, Singapore, the UK, Austria, Germany, Russia, and Bahrain.

Shahmir Khaliq, Citi’s head of services, described the collaboration as “an important step in our journey to creating a multibank solution that is designed to deliver an end-to-end, ‘always on’ experience for participant banks and their customers.”

“Our 24/7 USD Clearing service is a clear differentiator in the market,” Khaliq continued. “It demonstrates the full value of our globally leading cross-border payments and clearing capabilities, which enable our clients to make payments faster and in a more efficient and transparent manner.”

Source: fintechfutures.com

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New partnership between BIS and MAS targets climate risks in finance

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The Bank for International Settlements (BIS) and the Monetary Authority of Singapore (MAS) have recently collaborated on an innovative initiative.

The BIS, an institution dedicated to fostering international monetary and financial cooperation, and the MAS, Singapore’s central bank responsible for monetary policy, financial regulation, and supervision, have teamed up to tackle a pressing global challenge.

Their partnership aims to develop a blueprint for a climate risk platform designed to integrate regulatory and climate data. This platform will enable financial authorities worldwide to better identify, monitor, and manage climate-related risks within the financial system.

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The BIS, through its Innovation Hub Centre in Singapore, is addressing financial stability concerns posed by climate change. The MAS adds its regulatory expertise and focus on sustainable finance to the effort. Both institutions recognize the complex challenges posed by climate change, including significant data gaps and the difficulty of assessing associated risks.

Project Viridis, led by the BIS Innovation Hub, outlines the essential features and metrics of the proposed climate risk platform. This platform is designed to provide comprehensive data on financed emissions, exposure to physical risks, and forward-looking assessments under various climate scenarios. As the impact of climate change on global financial markets escalates, adaptive and innovative responses are necessary.

The partnership also leverages advanced technologies such as natural language processing to extract and analyze climate-related data from corporate disclosures. This enables a deeper understanding of financial institutions’ climate-related risks and identifies potential areas requiring more intensive risk assessment.

Maha El Dimachki, head of the BIS Innovation Hub Singapore Centre, stated, “Project Viridis demonstrates how regulatory data can be integrated with climate data, extracted from corporate disclosure documents using natural language processing techniques. This provides authorities with insights into climate-related financial risks, helping them form an initial view of financial institutions’ risk exposures and identify areas that may require deeper risk assessment.”

Source: fintech.global

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