Bittime - News about crypto today is quite diverse, ranging from airdrops, staking, company mergers, FTX creditor payments, to the new South Korean crypto policy. The following are the highlights of today's crypto news, June 7, 2024.
Hamster Kombat Airdrop
A game in the TON ecosystem, Hamster Kombat, just announced that user airdrop distribution will be based on hourly profits. This is different from the previous airdrop scheme which was based on the user's token balance.
This change in the airdrop distribution scheme was made by the Hamster Kombat team to ensure that airdrops are distributed fairly to users who are actively playing and contributing to the game ecosystem.
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Staked LIT Airdrop
Staked LIT Airdrop is now officially launched. This is an opportunity to get rewards while participating in building the future of the Litentry ecosystem.
A total of 25,000 $LIT was allocated for this airdrop program, which was divided into 5,000 shares with each containing 5 $LIT. This Staked LIT Airdrop is the first to use the concept of identity-based staking.
Kaia Project: Merger of Finschia and Klaytn
Kaia Project, the result of a collaboration between Finschia and Klaytn, has just announced the launch of its first testnet, named Kairos v1.0.0.
The launch of the Kairos testnet is the first step for the Kaia network which will switch to the Klaytn network through the transition hard fork process.
The launch of the Kairos testnet is also the first step towards the launch of the Kaia mainnet which is expected to follow after thorough testing on the testnet is completed.
Also Read: South Korean Crypto Law: Add Virtual Asset Crime Investigation
FTX Creditor Payments
FTX's creditor group recently filed an objection to the reorganization plan submitted by FTX's bankruptcy administrator because it was deemed not to meet the criteria of the best interest test, contained clauses that were unfavorable to creditors, and ignored asset ownership issues.
Creditors argued that the cash payments proposed in the reorganization plan would actually be detrimental to them because they would potentially result in tax liabilities on the money received. They proposed that payments be made using crypto assets to avoid this tax problem.
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South Korean Crypto Law
South Korea's Ministry of Justice announced it will include virtual asset crimes within the scope of direct investigations by prosecutors. Later, South Korean prosecutors will be able to directly investigate economic crimes, including those related to the Virtual Asset User Protection Act.
The law, which came into effect on July 19, 2024, aims to protect virtual asset users and ensure healthy trading practices in the crypto market. Violation of this law carries a prison sentence of more than one year or a fine.
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How to Buy Crypto with Bittime
You can buy and sell crypto assets in an easy and safe way through Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also Read:
Staked LIT Airdrop, Staking Litentry with a Unique Concept!
Kaia Project, Result of Finschia and Klaytn Merger, Launches Kairos Testnet!
Hamster Kombat: Airdrop Distribution Based on Hourly Profit, Not Token Balance!
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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