GM. Welcome back to BitPinas Key points: easily digestible news in concise formats for easy reading. Our feature article today – the Metamax Scam Unraveled.
Here are the latest crypto news stories in the last 24 hours.
Market analysis and updates 📈
Crypto price update
Here are the crypto highlights of the day:
Bitcoin (BTC): $62,972, down 0.8% over the past 24 hours. Ethereum (ETH): $3,446, down 1.5% over the past 24 hours. Solana (SOL): $148.06, up 0.2% from the previous day.
Trending Coins Update
Billy: $0.1006, up 46.3% from the previous day. Peak: $0.036, up 26.6% over the last 24 hours. Notcoin: $0.013, down 7.7% from the previous day.
For the daily price update, check our post on Facebook.
📺 Upcoming Webcast: Beginner’s Guide to DeFi
Join us for the next installment of our Beginner’s Guide Series, where we’ll be talking with Paolo Dioquino from Pendle Finance, DeFi Philippines and ETH63. In this session, Paolo will cover the basics of Decentralized Finance (DeFi) and share practical tips to help you navigate this innovative financial landscape.
Register here!
Feature News: Metamax Unraveled
MetaMax has quietly shut down its social media accounts as users suspect the scam is slowly revealing itself.
Background: SEC issued an advisory against METAMAX for unauthorized investment activities in the Philippines.
Loyal investors argue that there is a Metamax company that is legally registered with the SEC. However, it is just that – company registration. Metamax should have had a secondary license that would allow it to solicit investment from the public.
What happened after:
Some investors blame the SEC, arguing that if there had been no SEC advice, Metamax would not have closed:
The reality:
Metamax seems to have been running since 2023, just rotating through various regions. Over the past few days, Metamax has had numerous promotions intended to attract more from investors. Users see this as a sign that the investment scheme is on its last legs: Blockchain experts see funds being drained:
Comment by u/Due_East_3503 from discussion in investment
What we do know: Metamax is supposed to have an event in Manila:
Apparently people showed up:
But no one from Metamax leadership showed up based on this report:
As of yesterday, Metamax investors are being asked to stop posting on social media:
What’s Next: Expect more influencers who promoted Metamax to slowly remove their content.
Philippine Crypto News 🇵🇭
Coins.ph has listed the coin Metalcore (MCG). SuperteamPH held their founding camp in Tagaytay last June 29. Own announced the new date for the rescheduled Ownchain Node Key NFT presale. BreederDAO works with web3 game WildForest.
Educational corner 🎓
Check out our new Beginner’s Guide to Peso Cost Averaging, this article was made in collaboration with PDAX.
Regulation check 📜
Stay up to date on the latest regulatory updates and what they mean for you:
The European Union’s MiCA crypto law imposes strict regulations on stablecoins, limiting daily transactions for those used in payments to 1 million or less. Coinbase is suing the SEC and FDIC, alleging that they illegally withheld documents related to closed investigations, including those regarding Ethereum’s status as a security, under Freedom of Information Act requests. A federal judge upheld most of the SEC’s charges against Binance, ruling that the exchange may have violated securities laws by offering unregistered investment products and engaged in fraudulent activities. Obinna Uzoije advocates for Nigeria and ECOWAS to adopt regulatory frameworks inspired by Europe’s MiCA to attract crypto investors by providing clarity and addressing regulatory uncertainties across member states.
Community Spotlight 🔦
Meet John Sedano: He is known for his community development expertise at Yield GuildGames.
His initiative #YGGTV is the first web3 gaming news show. He is also one of the hosts of the web3 podcast gm! Crypto. Sedano is also one of the founders of ReQuest, a Filipino-led ticketing and events dApp.
It recently won 2nd place at the Solana APAC Summit hackathon in Kuala Lumpur.
More Web3 and AI News 💡
Discover the latest in web3 and AI innovation.
Animoca Brands is considering a return to the public market with a potential listing in Hong Kong or the Middle East in the second half of 2025. Sony Group, through its subsidiary Quetta Web Co., is preparing to launch a cryptocurrency- exchange to launch in Japan by rebranding the acquired platform WhaleFin as S.BLOX Co. PinEye has launched a platform in Dubai that combines gaming entertainment with community-driven engagement and cryptocurrency rewards to financially empower users.
Web3 Games Section 🎮
The future of web3 is games, and here’s the latest news.
Sequence, a web3 game development platform, has partnered with Transak to streamline payment processes within the web3 game sector. Wild Forest, a web3 real-time strategy game, recently sold $1 million of NFTs in less than a minute. Telegram game Yescoin quickly gained popularity with more than 18 million players in the first month.
Event announcements 📅
Don’t Miss: Upcoming Events, Webinars and Meetups in the Crypto Space!
Upcoming Events:
Notable 🌟
Key updates and announcements from around the crypto and blockchain world:
According to Immunefi, in the second quarter of this year, crypto industry losses due to hacks and scams rose to $573 million. The Aptos Foundation and Alibaba Cloud are partnering with Alcove Pro to revolutionize Japan’s Web3 landscape through collaborative initiatives including hackathons, educational programs and industry events. The number of cryptocurrency ATMs installed worldwide increased by 17.8% in the past year to 38,279, approaching the record high of 39,541 set in December 2022.
Stay connected:
We look forward to hearing from you! Reply with your thoughts or questions.
This article is published on BitPinas: Amid SEC advisory, Metamax event canceled in PH, wants investors to stop posting on social media | Key Points | 2 July 2024
Disclaimer for Uncirculars, with a Touch of Personality:
While we love diving into the exciting world of crypto here at Uncirculars, remember that this post, and all our content, is purely for your information and exploration. Think of it as your crypto compass, pointing you in the right direction to do your own research and make informed decisions.
No legal, tax, investment, or financial advice should be inferred from these pixels. We’re not fortune tellers or stockbrokers, just passionate crypto enthusiasts sharing our knowledge.
And just like that rollercoaster ride in your favorite DeFi protocol, past performance isn’t a guarantee of future thrills. The value of crypto assets can be as unpredictable as a moon landing, so buckle up and do your due diligence before taking the plunge.
Ultimately, any crypto adventure you embark on is yours alone. We’re just happy to be your crypto companion, cheering you on from the sidelines (and maybe sharing some snacks along the way). So research, explore, and remember, with a little knowledge and a lot of curiosity, you can navigate the crypto cosmos like a pro!
UnCirculars – Cutting through the noise, delivering unbiased crypto news
