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Following Fall of FTX & Silvergate, The Crypto Market Needs Sensible Regulation

Published

2 years ago

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The FTX collapse guarantees that crypto regulation will be on the US legislative agenda for 2023 — at long last. In total, six bills were introduced in 2022, focusing on a mix of aspects connected to the crypto industry for investor protection or compliance. 

As the SEC and the CFTC are jockeying for positions, the number of voices in the room is going to increase. Some don’t want any sort of regulation to exist, but others people in the industry and anti-crypto lawmakers think regulating crypto will legitimize its existence. 

The time is right for crypto custody and all other types of platforms to be supervised with certain regulations. The US has the strongest financial market in the world, and that is due in large part to regulation. Regulation will make crypto markets stronger.

No regulatory regime administering traditional finance is created in one fell swoop. Along with the system, the regime also evolves to become better, inclusive, and stronger according to the needs. Disasters like FTX become a teaching lesson for the rulemakers to improve the regulatory system. 

The digital asset industry is still in its infancy, but problems like FTX are familiar. There have been previous such events at QuadrigaCX and at Mt. Gox. To prevent these types of massive losses that also deteriorate the market trust, regulatory oversight must begin. Here are five modest, sensible steps that could be taken now that don’t even require much crypto knowledge.

  • Stablecoin Reserves

As stablecoins are intended to be less volatile, they play an important role in the digital asset ecosystem. Moreover, they are more practical for everyday transactions. However, these stablecoins have not always been so stable.

These stablecoins are intended to be exchangeable for the underlying asset at a 1:1 ratio. However, stablecoin issuers are not required by law to maintain reserves that are equivalent to the available supply. There is a chance that holders will rush to redeem their coins when a stablecoin loses its peg, creating a situation that resembles a bank run.

That’s exactly what happened with TerraUSD in May of 2022. Recently, the US SEC has found another strong point of concern against the platform, making the former stronger. It relied on trading based on a mint and burn algorithm linked to the supply of LUNA, a cryptocurrency issued by Terra. Ironically, Sam Bankman-Fried is now under investigation for manipulating the market for TerraUSD, whose collapse touched off the industry crisis that ultimately exposed his other misdeeds at FTX.

Yet, none of that is necessary to know in order to determine whether a stablecoin is backed by a dollar. The quantity of circulating stablecoins is equal to the number of dollars in reserve. Stablecoin issuers should be required to keep 1:1 reserves at FDIC-insured banks.

The birth of FDIC insurance came after the bank failures during the early 1800s. Quarterly audits of reserves and real-time reporting on mint and burn activity should be mandatory. We also need to implement safety and soundness controls with a diversity of banks proportional to reserve size.

  • Separate Trading And Custody

Customers’ requirement to maintain their money with the exchange under the current market structure is fundamentally wrong. It is not necessary to be an expert in cryptography to understand why that is a bad idea. Imagine that the Nasdaq asked the SEC to serve as its own custodian, is it possible?

The issue with counterparty risk persists even after being entirely honest. Many of these crypto custody platforms and exchanges also engage in different kinds of lending. They engage in market-making and arbitrage. As they continue to trade and hedge on other exchanges, identifying the counterparty risk on the exchange is impossible. The reason being it’s the sum of the exchange’s risk plus the risk of whatever other markets they’re participating in that plays an important role in risk assessment. 

If there’s anything one should learn from the FTX collapse, it’s that assets should be stored until required for trading by external, qualified, regulated, and insured custodians. This creates a check-and-balance for verifying reserve assets under any exchange’s control.

The public may have learned sooner that FTX was in a crisis in a fractional reserve position if trading and custody had been kept separate. After the bankruptcy, it would have been simpler to stop asset theft and hacking.

  • Require Digital Asset Exchanges To Be 100% Digital

Discontinuing direct trading of digital assets with fiat or off-chain assets will make all exchanges on-chain auditable. As a result, it will enable Proof-of-Reserves that actually work. At present, Proof of Reserves does bring some level of transparency, but they are not a foolproof solution for separating who’s solvent and who’s not, for two reasons.

  1. No one can practice it for reserves on fiat because they cannot be represented in a digital way. 
  2. It’s not possible to give proof of non-liabilities, which is really the thing that matters most. FTX combined fiat, and digital reserve components and their liabilities far outstripped their reserves. 

With pure digital exchanges representing fiat digitally as a regulated stablecoin, Proof of Reserves for everything can become a reality. The last thing to be solved is the liabilities component. 

A reasonably solid and effective system with compliance can be built by fixing settlement and clearing to be entirely digital. Exchanges are currently attempting to establish a business in a hybrid world because they have no other option. So, as a transition, it is preferable to package fiat and securities in digital form. The ability to work in a digital environment will be significantly improved after the archaic wrappers have been removed.

  • Regulate Digital Asset Exchanges’ Use Of Omnibus Wallets

In an omnibus wallet, the funds of multiple clients are stored under a single address. The benefit is that it makes key management easier for the custodian and also makes it easier to enable efficient off-chain transactions.

However, one of the main limitations is that individual customers no longer have visibility into the transactions. Neither do they have any information on the counterparty risk. It’s also unclear what happens to each customer’s funds in the event of bankruptcy.

Omnibus wallets are only acceptable when the qualified crypto custody platform is aware of each of the exchange’s clients in the omnibus pool and assets are segregated in such a way as to provide bankruptcy protection to each client. The custodian must also participate in AML/KYC compliance of exchange clients.

  • Define Securities For The Digital Era

The SEC is still using an ancient definition of securities which was developed in the 1940s. The result is it leads to underpinning their enforcement efforts. Builders in crypto have honest questions about how the rule applies to them, and they deserve answers.

Can the SEC not update their definition and upgrade the meaning of securities while taking into account the crypto era? How hard would it be for the SEC to provide an updated definition, detailed guidance, and sensible grandfathering policies? Having that clarity would go a long way toward providing protection to innovators and investors alike.

They should listen more to Commissioner @HesterPeirce, who has an open opinion that the agency should not be leading with enforcement. Enforcement is clearly in their purview, but there’s an opportunity to make the enforcement load a lot lighter by providing appropriate guidance, to begin with.

What occurred at FTX was a common form of financial fraud that has been practiced for ages. The sole connection between cryptocurrency and blockchain technology is that a lack of regulation created a level playing field for dishonest players.

Conclusion

At present, the crypto community understands SEC’s Custody Rule. These rules are meant to safeguard the crypto industry. As per this rule, the crypto custody and other types of platforms are required to separate custody from trading. This move is hailed as a positive aspect of the crypto industry. 

The crypto industry is in dire need of regulatory administration aimed at preventing catastrophic investor losses. Designers and builders are more than capable of architecting a better system to meet the requirements of regulators. Once people can’t be rug pulled or defrauded, the next discussion will be about more nuanced issues and building something more comprehensive.

It will take a collective effort to get through this phase. FTX isn’t the first exchange to run into trouble; it’s just the biggest. It is easy to compartmentalize it as one guy who was a charlatan and go back to business as usual. However, doing so will be like setting the industry up for the next failure. To come out stronger and better, it is essential to use this opportunity to take a few simple steps in the direction to lead the industry into a new direction in order to thrive.

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Press Release

Free cloud mining starts here: Recommended top 3 cloud mining platforms in the United States to earn Bitcoin

Published

7 days ago

on

March 28, 2025

By

Exploring the world of cryptocurrency can feel like stepping into the unknown, especially when it comes to cloud mining. The promise of earning passive income through cloud mining is undeniably tempting, but it’s essential to be cautious and select a reliable platform. To make an informed decision, you’ll need to evaluate more than just potential returns. You must also consider factors such as legality, security, and long-term sustainability.

Here, we highlight the top 3 cloud mining platforms that are not only legal but also highly trustworthy in 2025. In this comprehensive guide, we compare the performance and reliability of Snxcrypto, ECOS, and Binance.

Platform Comparison:

PlatformKey FeaturesDifficulty of UseOverall Rating
SnxcryptoReal-time mining statistics, excellent price-to-performance ratio, user-friendly interface, free Bitcoin planVery Easy★★★★★
ECOSCloud mining and trading features, built-in wallet, intuitive interface (though slightly cluttered)Easy★★★★☆
BinanceMultiple mining contracts, wide range of features and active community for trading, earning, and reinvesting cryptocurrenciesModerate★★★★★

Introduction to Top 3 USA Cloud Mining Providers:

Snxcrypto
Snxcrypto is one of the best-known cloud mining platforms in the US and UK. It stands out for its strong security features, eco-friendly mining practices, and user-friendly design. New users even receive a $100 bonus upon registration. Whether you’re new to mining or an experienced user, Snxcrypto offers a smooth experience with mining rewards delivered daily.

OK000

Key advantages include its detailed, real-time mining statistics, a powerful price-to-performance ratio, and a no-cost Bitcoin mining plan. While it doesn’t offer physical hardware ownership, it ensures efficient mining with the latest technology. However, it has limited cryptocurrency options compared to larger platforms.

ECOS
ECOS is another trusted cloud mining provider, offering diverse contracts to suit different investment levels. The platform also supports a mobile app for performance tracking, allowing miners to stay updated on their cloud mining activities.

ECOS offers a good combination of energy-efficient operations, detailed analytics, and excellent customer service. However, its misleading profit calculator and limitation to Bitcoin mining may not appeal to those looking for more diverse investment opportunities.

Binance
Binance, a major player in the cryptocurrency exchange world, extends its services to cloud mining through Binance Pool. The platform allows users to mine popular cryptocurrencies like Bitcoin and Ethereum while taking advantage of a range of other crypto services such as trading and reinvesting.

Binance stands out for its beginner-friendly interface and free mining plans, although users will have limited control over mining operations. Additionally, while it offers a range of contracts, it’s more suited for traders looking for integration with their broader cryptocurrency activities.


Why Is Snxcrypto the Best Cloud Mining Platform Right Now?

Snxcrypto has earned a solid reputation as one of the leading cloud mining platforms. The platform’s success is due to its commitment to transparency, cutting-edge technology, and a user-first approach. Here’s why Snxcrypto stands out in 2025:

Transparency and Trustworthiness
One of Snxcrypto’s core values is transparency. Unlike many competitors, the platform provides users with detailed real-time data about the mining process, including pool performance, equipment efficiency, and earnings. This level of transparency builds trust with users, giving them a clear understanding of how their investments are performing.

Competitive Pricing and Flexible Plans
Snxcrypto offers flexible pricing plans to cater to various budgets. Whether you’re a beginner with modest investment goals or a large investor seeking higher returns, Snxcrypto’s diverse options allow for tailored strategies. This flexibility makes cloud mining accessible to a broader audience, ensuring that everyone can participate regardless of their investment level.

Cutting-edge Technology and Efficiency
Snxcrypto stays ahead of the curve by using the latest mining technology, maximizing efficiency while minimizing operational costs. This competitive edge helps boost returns for users and ensures that mining operations remain cost-effective and high-performing.

Top-notch Customer Support and Community Engagement
Snxcrypto’s customer service is responsive and knowledgeable, providing users with timely assistance whenever needed. The platform also fosters a strong sense of community, allowing miners to exchange insights and collaborate, which enhances the overall user experience.


Conclusion
Selecting the right cloud mining platform is crucial for anyone serious about cryptocurrency mining. While the idea of earning passive income through cloud mining is tempting, it’s vital to do so with caution. Informed decision-making is key to ensuring that your investments are secure, sustainable, and rewarding.

Whether you’re an experienced miner or a newcomer, Snxcrypto offers one of the safest, most reliable cloud mining platforms in the market. By prioritizing transparency, efficiency, and customer satisfaction, Snxcrypto has earned its spot as the top cloud mining choice in 2025.
Want to get started with Snxcrypto? Visit Snxcrypto’s official website for more information.

Company Information：

Company name: SNXCRYPTO LIMITED

Company Website：https://snxcrypto.com

Company Video：https://youtu.be/ICSteeVYao4

Company mail:  info@snxcrypto.com

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Press Release

Free Cloud Mining with SnxCrypto: A Revolutionary Way to Make Money with Cryptocurrency Without Investment

Published

7 days ago

on

March 28, 2025

By

In the world of cryptocurrency, mining has become one of the most popular methods to earn digital currencies. However, traditional mining can be a costly, complicated, and time-consuming process, requiring expensive hardware, constant maintenance, and significant energy consumption. Enter SnxCrypto – a leading platform that offers an innovative solution to these challenges through cloud mining.

What is Cloud Mining?

Cloud mining is a method that allows users to mine cryptocurrencies without the need to invest in or manage the physical hardware themselves. Instead of purchasing and setting up expensive mining rigs, individuals can rent computing power from a remote data center and participate in cryptocurrency mining from the comfort of their own homes. Cloud mining has revolutionized the way people access the mining market, making it more accessible and less risky for beginners and experienced miners alike.

Why Choose SnxCrypto for Cloud Mining?

SnxCrypto stands out in the crowded world of cloud mining platforms due to its advanced cloud mining equipment and cutting-edge technology. Here’s why SnxCrypto is quickly becoming a go-to platform for cloud miners:

· State-of-the-Art Mining Equipment
SnxCrypto has invested heavily in the latest cloud mining hardware to ensure that users can enjoy the best possible performance. With the most advanced mining rigs available, the platform guarantees stable and efficient operations, allowing users to maximize their mining rewards with minimal downtime.

· Experienced and Highly Skilled Technical Team
Behind SnxCrypto’s platform is a dedicated and professional team of technical experts. These specialists are constantly optimizing the platform’s mining algorithms and ensuring the highest levels of security and efficiency. Whether it’s troubleshooting issues or innovating new ways to improve the system, the team is committed to providing users with a seamless experience.

· Stable High Returns
One of the key advantages of using SnxCrypto is the platform’s ability to provide stable, high yields. While cryptocurrency mining can sometimes be unpredictable, SnxCrypto’s robust infrastructure and optimized algorithms help users achieve consistent, profitable results. This stability has made SnxCrypto a trusted platform for both novice and experienced miners.

· Free $100 Trial for New Members
SnxCrypto makes it easy for new users to get started by offering a generous promotion: a free $100 experience trial. This allows newcomers to dive into cloud mining without having to invest any of their own money upfront. With this bonus, new users can start mining immediately, test the platform’s features, and see how the system works in real-time. This risk-free entry point makes SnxCrypto the perfect choice for those who are curious about cryptocurrency mining but are hesitant to commit their funds at the outset.

OK000

· No Investment Required to Earn
One of the most unique features of SnxCrypto is that users can start earning without making an initial investment. The platform’s design allows anyone to register, use the free $100 trial, and start mining without the need for any upfront capital. This is a game-changer for those who want to dip their toes into the world of cloud mining but don’t have the funds to invest in hardware or software. Whether you’re a complete beginner or an experienced miner, SnxCrypto offers an easy entry into the world of cryptocurrency mining with no financial risk.

· Fast Withdrawal System
Time is money, especially in the world of cryptocurrency. SnxCrypto understands the importance of fast and efficient transactions. The platform’s withdrawal system ensures that users can quickly access their earnings without unnecessary delays. Whether you’ve earned through the free $100 trial or made a personal investment, you can rest assured that your withdrawals will be processed in a timely manner.

· User-Friendly Interface
Even for those who have never mined before, SnxCrypto’s platform is intuitive and easy to navigate. The user interface is designed with simplicity in mind, ensuring that even beginners can quickly understand how to start mining. From signing up to withdrawing earnings, the entire process is streamlined for efficiency and ease of use.

The Benefits of Cloud Mining with SnxCrypto

There are numerous advantages to cloud mining with SnxCrypto, making it a highly appealing option for anyone interested in earning cryptocurrency without the complexities of traditional mining.

No Need for Expensive Hardware
Cloud mining eliminates the need to buy expensive mining rigs. All you need is an internet connection and a device to access the platform. SnxCrypto handles all the technical aspects, including hardware maintenance and software updates, so users don’t have to worry about the high costs of mining equipment or dealing with system failures.


Energy Efficiency
Traditional mining can be highly energy-intensive, with miners consuming vast amounts of electricity to power their rigs. SnxCrypto’s cloud mining solution runs on state-of-the-art, energy-efficient equipment that minimizes the environmental impact while maximizing profits. By using shared resources in data centers, users can mine without the excessive energy consumption associated with home-based mining setups.

Accessibility and Convenience
Cloud mining makes cryptocurrency mining accessible to anyone, regardless of location or technical knowledge. With SnxCrypto’s platform, anyone can start mining in minutes, from anywhere in the world, without needing to set up or maintain complex hardware.

Scalability
As users gain experience and grow their investments, they can scale up their mining operations on SnxCrypto’s platform. Whether you’re starting small or aiming for larger profits, SnxCrypto offers flexible plans to meet the needs of every miner, allowing them to adjust their mining power as needed.

Final Thoughts
SnxCrypto is leading the charge in making cryptocurrency mining easier, more efficient, and accessible to everyone. Whether you’re a complete beginner or a seasoned miner, SnxCrypto’s platform offers a range of benefits that make it the ideal choice for cloud mining. From cutting-edge equipment to fast withdrawals and no initial investment required, SnxCrypto provides all the tools and resources you need to start earning cryptocurrency with ease.

With the free $100 trial, there’s no better time to join SnxCrypto and experience the future of cryptocurrency mining firsthand. Sign up today and start earning with the best cloud mining platform available!

Company Information：

Company name: SNXCRYPTO LIMITED

Company Website：https://snxcrypto.com

Company Video：https://youtu.be/ICSteeVYao4

Company mail:  info@snxcrypto.com

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Press Release

Cequire Capital Announces $500K Investment and Strategic Partnership with BBA Chain to Drive Web3 Innovation

Published

1 week ago

on

March 27, 2025

By

Cequire Capital, a leading Web3 investment firm, is thrilled to announce a $500,000 investment and strategic partnership with BBA Chain, a next-generation blockchain infrastructure provider. This collaboration marks a significant step forward in fostering innovation and accelerating the adoption of decentralized technologies.

Cequire Capital is dedicated to backing bold ideas and pioneering blockchain projects through strategic investments, early-stage token support, and startup growth. By providing in-house tools and industry expertise, Cequire aims to be a catalyst for the next wave of decentralized success. This new partnership with BBA Chain underscores Cequire’s commitment to advancing the Web3 ecosystem and empowering blockchain projects with financial backing and strategic guidance.

BBA Chain is a high-performance blockchain platform designed to enhance scalability, security, and interoperability in decentralized applications. By aligning with Cequire Capital, BBA Chain gains access to crucial resources that will drive its mission of building a more efficient and decentralized future. The $500,000 investment will support the development, expansion, and adoption of BBA Chain’s innovative blockchain solutions.

Key Benefits of the Partnership:

  • Significant Financial Backing: Cequire Capital’s $500,000 investment in BBA Chain will fuel its expansion and provide essential support for its ecosystem.
  • Innovation & Development: The collaboration will focus on fostering technological advancements and supporting early-stage blockchain projects to push the boundaries of decentralized technology.
  • Strengthening Web3 Adoption: By leveraging Cequire’s industry expertise and BBA Chain’s scalable solutions, the partnership aims to drive mainstream adoption of blockchain technology and decentralized applications.

“We are excited to partner with BBA Chain, a forward-thinking blockchain platform that aligns with our vision of decentralized innovation,” said Salman Parcy, General Partner at Cequire Capital. “Our investment will help accelerate their mission and further cement our commitment to fostering groundbreaking Web3 projects.”

This investment follows Cequire Capital’s strategy of backing promising blockchain projects and empowering them with the financial and strategic resources necessary for success. Similar to previous investments, such as the recent funding of Wyscale, Cequire continues to identify and support projects that have the potential to revolutionize the blockchain industry.

The partnership announcement was shared on Cequire Capital’s LinkedIn and Twitter channels, as well as on BBA Chain’s Twitter.

For more information, visit:

About Cequire Capital:

Cequire Capital is a Web3 investment firm committed to supporting blockchain projects through strategic investments and in-house solutions. With a focus on liquidity provision, early-stage token investments, and startup growth, Cequire is a trusted partner for innovators in the decentralized space. By investing in promising blockchain ventures, Cequire aims to shape the future of Web3 and drive sustainable growth across the industry.

About BBA Chain:

BBA Chain is a cutting-edge blockchain platform designed to provide scalable, secure, and interoperable solutions for decentralized applications. Through its innovative technology, BBA Chain is shaping the future of blockchain adoption and development. With Cequire Capital’s investment and strategic partnership, BBA Chain is poised to further expand its influence and enhance its technological capabilities.

Contact Details:

Company Name: Cequire Capital
Website: https://cequire.com/

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