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Gate.io Advances Blockchain Innovation at Lead Asia Demo Day and Seoul Meta Week 2024

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Editorial Note: The following content does not reflect the views or opinions of BeInCrypto. It is provided for informational purposes only and should not be interpreted as financial advice. Please conduct your own research before making any investment decisions.

Gate.io, a world-leading crypto exchange, recently concluded its prominent hosting of Lead Asia Demo Day, alongside its participation in Seoul Meta Week 2024 as a Platinum Sponsor, reaffirming its leadership in both events. These platforms served as a stage for the future and advancement of blockchain technology, highlighted by keynote speeches delivered by Gate.io CEO Dr. Han Lin during Seoul Meta Week 2024.

Empowering Startups at Lead Asia Demo Day

On June 28th, Gate.io partnered with Wemade, a leading game developer in Korea known for its flagship IP, MIR, to host Lead Asia Demo Day in Seoul, drawing over 300 attendees. The event began with a welcome speech by Leo, Director of Strategy & Operations in East Asia, and Tiffany Chang, Investment Associate, highlighting Gate.io’s dedication to fostering innovation and driving industry growth.

They detailed Gate Ventures’ proactive investments and support for innovative blockchain startups, emphasizing their focus on community-driven tokenomics, genuine innovation, robust engineering, and sustainable business models across the Asia Pacific Region. Gate Ventures offers comprehensive support in areas like product development, code auditing, liquidity provision, and market making, ensuring startups receive essential resources and strategic guidance in today’s dynamic blockchain ecosystem.

Showcasing Promising Startups

During Lead Asia Demo Day, four promising startups—Batching.ai, CYRUS, Amnis Finance, and Quranium—presented their groundbreaking projects, each contributing to the limitless potential of Web3 development.

  • Batching.ai: An AI-driven NFT Gaming Platform that utilizes NFT information and incorporates AI technology for image generation, allowing users to play games with their NFT decks.
  • CYRUS: A blockchain startup focused on environmental and healthcare solutions, seamlessly integrating personal well-being, eco-friendly initiatives, and blockchain technology.
  • Amnis Finance: The top #1 liquid staking platform on Aptos, with an impressive 10% staking apr and many farming yields. It has achieved over $104 millions in Total Value Locked (TVL) and more than 200K stakers.
  • Quranium: The world’s first quantum-proof hybrid distributed ledger technology (DLT), designed to build a groundbreaking decentralized infrastructure prepared for the quantum computing era. This innovative solution stands out for its unparalleled speed and scalability, ensuring robust and future-ready performance in an evolving technological landscape.

Driving Forward with Vision and Passion

The startups showcased their innovative potential, making it a close competition for the Best Innovation Award. Ultimately, Batching.ai stood out for its groundbreaking work. Tiffany Chang commented, “We believe their cutting-edge AI-driven NFT gaming platform is set to revolutionize the Web3.0 gaming experience.”

At the end of the event, Gate.io extended its heartfelt gratitude to co-host Wemade, a pioneer among game developers in South Korea which adopted blockchain technology early to operate the world’s largest web3 game platform, Wemix Play, along with Golden Sponsors Quranium, Batching.ai, CYRUS, and Amnis, and Silver Sponsors Burrito Wallet, TetherMax, UNICE, WEMIX, and Kroma. Their generous contributions and invaluable support made this event possible.

Lead Asia Demo Day was a resounding success in fostering connections among Korean Web3 industry leaders and the community. “It was an absolute pleasure to be a part of this well-curated event by Gate.io. South Korea is a crucial market focus for Quranium, and Gate.io’s leadership in advancing Web3 initiatives in Asia will contribute significantly to building a strong ecosystem. We eagerly anticipate closer collaboration,” remarked Benjamin Shin, Chief Business Officer at Quranium.

Building Trust Beyond Blockchain

During June 26th – 28th, Gate.io also participated in Seoul Meta Week 2024 as a Platinum Sponsor, contributing to the gathering of industry leaders and enthusiasts to explore the future of blockchain technology. Dr. Lin Han, Founder and CEO of Gate.io, delivered a keynote speech titled “How We Build Trust Beyond The Blockchain,” focusing on recent security challenges in the industry and Gate.io’s mission to establish a secure and user-friendly environment, emphasizing blockchain development and financial innovation.

In addition to Dr. Han’s keynote, Tiffany Chang, Investment Associate at Gate.io, participated in a panel discussion on “AI in Web3: Transforming the Future of Decentralized Technology,” highlighting Gate Ventures’ belief in AI’s transformative potential within Web3. Gate.io also showcased a variety of technologies and innovations at its booth during Seoul Meta Week.

Seoul Meta Week 2024 and Lead Asia Demo Day were both successful events for promoting blockchain technology and its use cases and showed Gate.io’s commitment to driving Web3 innovation and industry development.

Disclaimer:

This event is for professional knowledge sharing and networking purposes only. The content herein does not constitute any offer, solicitation, or recommendation of any products or services. Please note that Gate.io may restrict or prohibit the use of all or a portion of the Services from Restricted Locations. For more information, please read the User Agreement via https://www.gate.io/user-agreement.

Disclaimer

This article contains a press release provided by an external source and may not necessarily reflect the views or opinions of BeInCrypto. In compliance with the Trust Project guidelines, BeInCrypto remains committed to transparent and unbiased reporting. Readers are advised to verify information independently and consult with a professional before making decisions based on this press release content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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US Senators Question Trump’s Involvement in USD1 Stablecoin

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A coalition of US Senators is raising serious concerns about a potential conflict of interest involving President Donald Trump and an upcoming stablecoin project called USD1.

The digital asset, backed by World Liberty Financial (WLF), has drawn scrutiny due to Trump’s reported ties to the company behind it.

Warren-Led Group Flags Risks of Presidential Involvement in USD1 Approval

On March 28, a group of lawmakers led by Senator Elizabeth Warren sent a letter to the Federal Reserve and the Office of the Comptroller of the Currency (OCC).

They asked both agencies to clarify how they plan to uphold regulatory integrity regarding the impending USD1 stablecoin.

The request comes as Congress considers the GENIUS Act, a bill that would grant the Fed and OCC broad authority over stablecoin regulation.

“The President of the United States could sign legislation that would facilitate his own product launch and then retain authority to regulate his own financial company,” they noted.

The Senators warned that allowing a sitting president to profit from a digital currency regulated by federal agencies under his influence poses a major threat to financial stability. They argue that such a situation is without precedent and could erode public trust in the regulatory process.

“The launch of a stablecoin directly tied to a sitting President who stands to benefit financially from the stablecoin’s success presents unprecedented risks to our financial system,” They argued.

The letter outlines scenarios where Trump could directly or indirectly influence decisions involving USD1.

For instance, the President could interfere with the OCC’s evaluation of the stablecoin’s application or discourage enforcement actions against WLF.

They also suggested that Trump could pressure the Federal Reserve to provide emergency financial support for USD1 during market volatility—support that may not extend to competing stablecoins.

“[Trump] could also attempt to direct the Fed to establish a master account at the central bank for WLF. He could intervene to deny such assistance to USD1’s competitors,” the lawmakers stressed.

In addition, the Senators noted that the GENIUS Act contains no conflict-of-interest provisions that would prevent Trump from using his office to benefit financially from the stablecoin’s success.

This absence of guardrails, they say, opens the door to regulatory favoritism and economic manipulation.

Considering this, the lawmakers demanded clarification on how the Fed and OCC would handle key issues. These include the approval process for USD1, the potential creation of liquidity support during crises, and WLF’s oversight of potentially unsafe business practices.

The agencies must submit their responses by April 11, 2025. The letter was signed by Senators Elizabeth Warren, Ron Wyden, Chris Van Hollen, Jack Reed, and Cory Booker.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Ethereum Drops As Two Whales Face $235 Million Liquidation Risk

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Ethereum (ETH) is under pressure once again, dropping around 3% in the last 24 hours and falling below the $1,800 level. This decline is putting several large leveraged positions at risk, including two massive whale vaults on Maker that collectively hold over $235 million worth of ETH.

With on-chain indicators flashing warning signs and technical levels being tested, the stakes are rising for both bulls and bears. As ETH hovers near critical support, the coming days could prove pivotal for its short-term price trajectory.

Ethereum Whales Could Get Liquidated

Ethereum has dropped around 3% in the past 24 hours, slipping below the $1,900 mark once again. This decline is putting pressure on large leveraged positions within the DeFi ecosystem.

According to on-chain data from Lookonchain, two major whale vaults on Maker—one of the leading decentralized lending protocols—are now approaching critical levels.

Whale data on DeBank.
First Whale data on DeBank. Source: Lookonchain on X.

Together, these vaults hold 125,603 ETH, valued at approximately $235 million. With ETH’s price nearing their liquidation thresholds, both vaults are at risk of being forcibly closed if the downward trend continues.

In Maker’s system, users can deposit ETH into vaults as collateral to borrow the DAI stablecoin. To avoid liquidation, the collateral must stay above a certain health ratio—essentially a safety buffer.

Whale data on DeBank.
Second Whale data on DeBank. Source: Lookonchain on X.

When that buffer gets too low, the protocol automatically sells off the collateral to cover the debt. In this case, the health ratio of the whale positions has fallen to just 1.07, dangerously close to the minimum threshold.

One vault faces liquidation at an ETH price of $1,805, and the other at $1,787. If ETH continues to dip, these vaults could trigger significant sell pressure, potentially accelerating the downward move.

Indicators Suggest The Downtrend Could Continue

Ethereum’s recent price drop has pushed its Relative Strength Index (RSI) back into oversold territory, currently sitting at 24.37. Just three days ago, the RSI was at 58.92, indicating how quickly sentiment has shifted.

The RSI is a momentum indicator that measures the speed and change of price movements, with readings below 30 typically signaling that an asset is oversold.

ETH RSI.
ETH RSI. Source: TradingView.

While this suggests that Ethereum may be due for a short-term bounce or relief rally, historical data shows that RSI can remain oversold for extended periods—or even drop further—if bearish momentum stays strong.

Ethereum’s Directional Movement Index (DMI), which signals a strong downtrend, adds to the bearish outlook. The Average Directional Index (ADX), which measures the strength of a trend, surged to 38.6 from 23.47 just a day ago, indicating growing momentum behind the current move.

ETH DMI.
ETH DMI. Source: TradingView.

Meanwhile, the +DI (positive directional indicator) has fallen to 10.6, while the -DI (negative directional indicator) has spiked to 40.23, showing that sellers are firmly in control.

This combination—rising ADX, high -DI, and falling +DI—typically suggests an intensifying bearish trend, meaning Ethereum’s price could remain under pressure in the near term despite already being technically oversold.

Will Ethereum Fall Below $1,800 Soon?

If Ethereum’s downtrend continues, the next key level to watch is the support at $1,823. A break below this level could quickly push the price down toward $1,759—a move that would trigger the liquidation of two major whale vaults on Maker, which are already hovering near their thresholds.

These potential liquidations could amplify sell pressure, making it even harder for Ethereum price to stabilize in the short term. Given the current bearish momentum and weak technical indicators, this scenario remains a real risk if bulls fail to step in.

ETH Price Analysis. Source: TradingView.

However, if sentiment shifts and the trend reverses, Ethereum could regain ground and test the resistance level at $1,938.

Breaking above that could open the path toward $2,104, a level that has previously acted as both resistance and support. Should buying momentum strengthen further, ETH might continue climbing toward $2,320 and potentially even $2,546.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Dark Web Criminals Are Selling Binance and Gemini User Data

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More than 100,000 users of popular crypto exchanges Binance and Gemini may be at risk after a trove of sensitive information appeared for sale on the dark web.

The leaked data reportedly includes full names, email addresses, phone numbers, and location details—raising alarms over growing cyber threats in the crypto sector.

Dark Web Actors Are Targeting Crypto Users

On March 27, a dark web user operating under the alias AKM69 listed a large database allegedly tied to Gemini, one of the largest crypto trading platforms in the US.

According to Dark Web Informer, the dataset mainly includes information about users from the United States, with a few entries from Singapore and the United Kingdom. The attacker claims the data could be used for marketing, fraud, or crypto recovery scams.

“The database for sale reportedly includes 100,000 records, each containing full names, emails, phone numbers, and location data of individuals from the United States and a few entries from Singapore and the UK,” the report stated.

It is unclear whether the leak resulted from a direct breach of Gemini’s systems or from other vulnerabilities, such as compromised user accounts or phishing campaigns.

Meanwhile, this incident followed another alarming listing on March 26.

According to the report, a separate dark web actor, kiki88888, allegedly offered a trove of Binance user data for sale. The database is said to hold over 132,000 entries, including the exchange users’ login information.

Threat Actor Selling Binance Users' Data.
Threat Actor Selling Binance Users’ Data. Source: X/Dark Web Informer

The Dark Web Informer suggests phishing attacks likely caused the breach rather than a compromise of the exchange’s systems.

“Some of you really need to stop clicking random stuff,” the Informer stated.

Binance and Gemini have yet to publicly comment on these incidents. However, phishing remains one of the most effective methods cybercriminals use to exploit crypto holders.

Scammers often impersonate official accounts or place misleading ads that redirect users to fake websites. Coinbase users are also being extensively targeted through phishing campaigns.

As BeInCrypto reported earlier, in March, Coinbase users lost over $46 million to social engineering scams.

Blockchain security firm Scam Sniffer revealed that phishing-related losses exceeded $15 million in the first two months of the year. This figure highlights the growing scale of the threat.

Given the rising threats, crypto users should stay vigilant and avoid unfamiliar links. They should also protect their accounts with two-factor authentication and hardware wallets whenever possible.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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