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Best cryptos to buy now for February 2023

Despite what the merchants of doom are predicting, there are still many great investment opportunities out there, especially in a bear market and especially…

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8 months ago

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Despite what the merchants of doom are predicting, there are still many great investment opportunities out there, especially in a bear market and especially in the crypto presale space. So as the overall economy starts to recover, what are the best cryptos to buy now for February 2023? Read on for a detailed examination of the top contenders:

The best cryptos to buy now

1. Metacade (MCADE)

2. Polygon (MATIC)

3. Gummys (GMY)

4. Decentraland (MANA)

5. Bitcoin (BTC)

6. Ethereum (ETH)

7. My Neighbor Alice (ALICE)

8. Orbeon Protocol (ORBN)

9. LuxWorld (LUX)

10. Sandbox (SAND)

1. Metacade (MCADE)

The metaverse and P2E sectors are set to explode in 2023, and that’s why so many investors are so excited by blockchain gaming newcomer Metacade (MCADE). Metacade (MCADE) offers a superb selection of futuristic metaverse and classic arcade games. Players benefit from genuine P2E functionality and can also earn income and rewards through competitions, content creation, testing new games, and employment opportunities.

Another big attraction for investors is that Metacade (MCADE) appeals equally to developers, investors, and crypto fanatics. External companies can use the platform to test and promote their products, run competitions, and recruit qualified staff. Developers have the chance to source funding for new games under the company’s innovative Metagrants initiative. And crypto fanatics and investors can generate income from staking and investment opportunities. 

Metacade (MCADE) has already successfully raised over $4.5m in its crypto presale, proving that investors endorse both the company, its concept, and planned DAO structure. Metacade (MCADE) is top of the best cryptos to buy now, thanks to its unrivaled choice of quality games, the huge potential of the crypto gaming market, and the attractive crypto presale price. Get in early while you still can!

>>> You can participate in the Metacade crypto presale here <<<

2. Polygon (MATIC)

In January 2021, Polygon (MATIC) didn’t feature anywhere on the list of the top cryptocurrencies by market capitalization. Yet just a year later, it ranked #14. And as of January 2023, Polygon (MATIC) sits just one place off the top ten most valuable crypto companies. Although there’s something to the old adage “past performance is no guarantee of future results,” Polygon (MATIC)’s spectacular rise is surely indicative of something exceptional.

So just what is it that makes Polygon (MATIC) a shoo-in for the best cryptos to buy now? Simple. First, it offers a layer-2 solution that is faster, more cost-effective, and scalable than Ethereum (ETH). Second, developers like Polygon (MATIC) because it’s so flexible and easy to use. And third, investors love its popularity, performance to date, and comprehensive plans for the future. Polygon (MATIC) is an easy choice as a top contender for the best crypto to buy in 2023.

3. Gummys (GMY)

The crypto world is starting to crisscross with many different areas, and crypto presale Gummys (GMY) is a prime example. Web3 video streaming opens up a host of new and intriguing possibilities, and Gummys (GMY) taps into that potential. Instead of play-to-earn games, Gummys (GMY) offers stream-to-earn and watch-to-earn services. Viewers can generate revenues by watching shows, interacting with producers, and creating content and NFTs.

The Gummys (GMY) crypto presale is now underway, and its innovative approach has already struck a chord with investors. This selection of the best cryptos to buy includes many familiar names, but Gummys (GMY) proves that there is always room for a new kid on the blockchain. Its crypto presale is well worth checking out.

4. Decentraland (MANA)

Decentraland (MANA) is widely recognized as a top metaverse game and is extremely popular with creatives. Artists can build a gallery where they can create and sell real and digital works of art. Designers can open a boutique to showcase wearables, jewelry, wallpaper, or anything. Developers can create new games. DJs can create their own discotheque. In short, Decentraland (MANA) is centered on creating events and experiences that could earn you revenues.

Decentraland (MANA) has been established since 2017, and that makes it a veritable veteran in metaverse blockchain gaming. That longevity, reputation, and presence are why Decentraland (MANA) makes this list of the best cryptos to buy now. But there’s more. The impressive partnerships, the potential for its metaverse to go mainstream, and the enhanced user experience all mean that Decentraland (MANA) is of great appeal to investors.

5. Bitcoin (BTC)

It’s fair to say that if the economy, in general, is doing well, then so is Bitcoin (BTC). That means positive economic forecasts and signs of recovery are welcome news for Bitcoin (BTC) investors. If you believe that the worst is over, interest rates will fall, US / China relations will improve, the Covid pandemic is now under control, and the Russia-Ukraine war has reached a stalemate – then there’s every good reason to see Bitcoin (BTC) as one of the best cryptos to buy now.

Bitcoin (BTC) still reigns supreme as the biggest and most important player in the market. That hugeness gives it structural importance in the crypto world. It’s now widely accepted by institutional investors worldwide as an integral part of their portfolios. Bitcoin (BTC)’s stature, stability, and popularity have rightly earned it the nickname of “digital gold,” and that valid comparison to actual gold is why it deserves its place here.

6. Ethereum (ETH)

In terms of market capitalization, Bitcoin (BTC) is more than twice the size of its nearest competitor, Ethereum (ETH). But just as impressively, Ethereum (ETH) is approaching three times the size of the next company on the list, Tether (USDT). The point is that Ethereum (ETH) is a market giant in its own right – and some industry watchers believe it could even overtake Bitcoin (BTC) in the future. That potential alone makes it one of the best cryptos to buy now.

But why do expert analysts believe Ethereum (ETH) could reach #1? The reason is obvious. While Bitcoin (BTC) is solely a cryptocurrency, Ethereum (ETH) takes things to the next level with its smart contract functionality. It leads the market with its support of decentralized apps and DeFi services and continues to enjoy widespread acceptance. Resilient, long-established, strong, secure, and forward-looking, Ethereum (ETH) remains among the best investment choices.

7. My Neighbor Alice (ALICE)

Prospective players can sometimes be scared off by the complexities of blockchain gaming, but My Neighbor Alice (ALICE) is a welcome antidote. Through fun games, friendly storylines, and charming graphics, players are gently introduced to the joys of crypto gaming and NFTs. My Neighbor Alice (ALICE) is free to play once players have bought their plots of land, and they can earn a profit through P2E games or by lending out their assets. 

The excellent reputation of game developer Antler Interactive underlines My Neighbor Alice (ALICE)’s credentials as a contender for the best cryptos to buy now. DeFi fans will also be attracted to My Neighbor Alice (ALICE) thanks to its extensive staking, borrowing, and lending functionality. My Neighbor Alice (ALICE) has already gathered an impressive list of partners and investors, and its appeal to both gamers and DeFi enthusiasts will surely see its popularity grow.

8. Orbeon Protocol (ORBN)

Any list of the best cryptos to buy now should include companies that have the potential to disrupt existing market dynamics. Orbeon Protocol (ORBN) fits the bill with its crypto presale and its proposed shake-up of crowdfunding and VC markets. Orbeon Protocol (ORBN) works by minting new business ventures into NFTs, which are then fractionalized. Every day investors can thus buy into the best new companies, while start-ups gain from an efficient route to funding.

Following the success of the initial stages, Orbeon Protocol (ORBN) is still available as part of its crypto presale. Investors can see the value of the company’s business proposition as a trailblazing and alternative funding platform. But it’s the additional benefits, such as a private investors club, and the ability to manage all their crypto business in one place, that marks Orbeon Protocol (ORBN) out as a candidate for best cryptos to buy now.

9. LuxWorld (LUX)

LuxWorld (LUX) is another great example of crossover in the crypto industry. Sure, there are other metaverses out there poised to take advantage of advances in Web3 technology – but LuxWorld (LUX) differentiates itself with pioneering “travel to earn” functionality. That cutting-edge approach also extends to impressive NFT collections, an immersive Social-Fi experience, establishing a green tourist community, and an excellent crypto presale offer.

LuxWorld (LUX) hits a lot of the right notes: NFTs, eco-tourism, GameFi, and the merging of real and virtual worlds. That helps to explain why it makes the cut for the best cryptos to buy now. LuxWorld (LUX)’s success to date with its crypto presale also highlights its appeal to investors, big brands, and gamers alike. LuxWorld (LUX) really looks like it’s going places!

10. Sandbox (SAND)

Sandbox (SAND) is perhaps the most well-known metaverse in the blockchain gaming industry, and that popularity puts it among the best cryptos to buy now. Blockchain gaming fans can create, manage and make money from their gaming experiences. Sandbox (SAND) gamers can purchase and develop virtual plots of land, and thereafter, the game is in their hands: renting out land, designing new games, or creating and trading NFTs are all potential revenue streams.

Sandbox (SAND) is well-placed to benefit from the predicted explosion in blockchain gaming and P2E. It has a proven product and the backing of big brands and household names, plus it offers a fun and immersive experience. Sandbox (SAND)’s durability, transparency, continuous development, income streams, high levels of fun, and DAO structure all commend it to investors.

The best cryptos to buy now: Metacade (MCADE) hits the high spot

All of the companies listed here could thrive and prosper in 2023. But it’s Metacade (MCADE) that triumphs in this analysis of the best cryptos to buy now. It wins out thanks to its stunning selection of games, its appeal to all sides of the blockchain gaming industry, its community-focused approach, and its potential to deliver high returns. The great value crypto presale is just the icing on the cake, but you need to act now to avail yourself of the best price.

You can find the best cryptos to buy now at eToro here.

You can participate in the Metacade crypto presale here.

The post Best cryptos to buy now for February 2023 appeared first on Invezz.

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SEC initiates legal action against FTX’s auditor

The SEC alleges that Prager Metis, an accounting firm engaged by bankrupt crypto exchange FTX in 2021, committed hundreds of violations related to auditor…

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56 mins ago

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October 1, 2023

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The SEC alleges that Prager Metis, an accounting firm engaged by bankrupt crypto exchange FTX in 2021, committed hundreds of violations related to auditor independence.

The United States Securities and Exchange Commission (SEC) has commenced legal proceedings against an accounting firm that had provided services to cryptocurrency exchange FTX before its bankruptcy declaration.

According to a Sept. 29 statement, the SEC alleged that accounting firm Prager Metis provided auditing services to its clients without maintaining the necessary independence as it continued to offer accounting services. This practice is prohibited under the auditor independence framework.

Extract from the SEC's September 29 statement. Source: SEC

To prevent conflicts of interest, accounting and audit tasks must be kept clearly separate. However, the SEC claims that these entwined activities spanned over a period of approximately three years:

“As alleged in our complaint, over a period of nearly three years, Prager’s audits, reviews, and exams fell short of these fundamental principles. Our complaint is an important reminder that auditor independence is crucial to investor protection.”

While the statement doesn't explicitly mention FTX or any other clients, it does emphasize that there were allegedly "hundreds" of auditor independence violations throughout the three-year period.

Furthermore, a previous court filing pointed out that the FTX Group engaged Metis to audit FTX US and FTX at some point in 2021. Subsequently, FTX declared bankruptcy in November 2022. 

The filing alleged that since former FTX CEO Sam Bankman-Fried publicly announced previous FTX audit results, Metis should have recognized that its work would be used by FTX to bolster public trust.

Related: FTX founder’s plea for temporary release should be denied, prosecution says

Concerns were previously reported about the material presented in FTX audit reports.

On Jan. 25, current FTX CEO John J. Ray III told a bankruptcy court that he had “substantial concerns as to the information presented in these audited financial statements.”

Furthermore, Senators Elizabeth Warren and Ron Wyden raised concerns about Prager Metis' impartiality. They argued that it functioned as an advocate for the crypto industry.

Meanwhile, a law firm that provided services to FTX has come under scrutiny in recent times.

In a Sept. 21 court filing, plaintiffs allege that U.S. based law firm, Fenwick & West, should be held partially liable for FTX's collapse because it reportedly exceeded the norm when it came to its service offerings to the exchange.

However, Fenwick & West asserts that it cannot be held accountable for a client's misconduct as long as its actions remain within the bounds of the client's representation.

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DOJ readies witnesses in Bankman-Fried trial, highlights FTX asset management

The DOJ intends to highlight the experiences of retail and institutional clients who entrusted substantial assets to FTX.
The Department…

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1 hour ago

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October 1, 2023

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The DOJ intends to highlight the experiences of retail and institutional clients who entrusted substantial assets to FTX.

The Department of Justice (DOJ) has confirmed its intention to summon former FTX clients, investors and staff as witnesses in the upcoming trial involving Sam Bankman-Fried, the former FTX CEO.

The DOJ submitted a letter motion in limine on Sept. 30 describing the witnesses it intends to call concerning FTX’s treatment of customer assets.

The testimonies intend to provide perspectives on the interactions between the accused and the witnesses. It also aims to get the witnesses’ understanding of Bankman-Fried’s remarks and conduct, particularly regarding FTX’s asset management. The DOJ intends to highlight the experiences of retail and institutional clients who entrusted substantial assets to FTX, believing that the platform would safeguard them securely.

Court filing in the United States District Court for the Southern District of New York. Source: CourtListener

Furthermore, a situation has emerged concerning one of the DOJ’s witnesses, “FTX Customer-1,” who resides in Ukraine. Given the ongoing conflict in Ukraine, traveling to the U.S. to provide testimony is associated with difficulties. The DOJ has suggested using video conferencing as a viable alternative. However, Bankman-Fried’s defense has not yet approved this proposal.

Nonetheless, the legal team representing Bankman-Fried, led by lawyer Mark Cohen, has voiced concerns about the jury questions put forth by the DOJ. According to Bankman-Fried’s defense, these interrogations insinuate guilt on Bankman-Fried’s part, potentially undermining the principle of “innocent until proven guilty.“

Additionally, the defense contends that these inquiries may not effectively uncover the jurors’ inherent biases, especially related to their encounters with cryptocurrencies. Moreover, specific questions could inadvertently guide the jury’s perspective instead of eliciting authentic insights, possibly compromising the trial’s impartiality.

Related: Sam Bankman-Fried’s lawyer challenges US gov’t proposed jury questions

With the jury selection scheduled to start on Oct. 3, closely followed by the trial, the spotlight is firmly on this high-stakes legal confrontation. This case underscores not only its immediate consequences but also underscores the vital importance of transparent communication and unbiased questioning in upholding the principles of justice.

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Vitalik Buterin voices concerns over DAOs approving ETH staking pool operators

The Ethereum co-founder proposes a solution that could lower the likelihood of any individual liquid staking provider growing to a point where it poses…

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2 hours ago

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October 1, 2023

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The Ethereum co-founder proposes a solution that could lower the likelihood of any individual liquid staking provider growing to a point where it poses a systemic risk.

Vitalik Buterin, the co-founder of Ethereum, has expressed worries regarding decentralized autonomous organizations (DAOs) exerting a monopoly over the selection of node operators in liquidity staking pools.

In a September 30 blog post, Buterin issues a warning that as staking pools adopt the DAO approach for governance over node operators—who are ultimately responsible for the pool's funds—it can expose them to potential risks from malicious actors.

“With the DAO approach, if a single such staking token dominates, that leads to a single, potentially attackable governance gadget controlling a very large portion of all Ethereum validators.”

Buterin highlights the liquid staking provider Lido (LDO) as an example with a DAO that validates node operators. However, he emphasizes that relying on just one layer of protection may prove insufficient:

“To the credit of protocols like Lido, they have implemented safeguards against this, but one layer of defense may not be enough,” he noted.

ETH staked by category chart. Source: Vitalik Buterin

Meanwhile, he explains that Rocket Pool offers the opportunity for anyone to become a node operator by placing an 8 Ether (ETH) deposit, which, at the time of this publication, is equivalent to approximately $13,406.

However, he notes this comes with its risks. "The Rocket Pool approach allows attackers to 51% attack the network, and force users to pay most of the costs," he stated.

On the other hand, Buterin highlights that having a mechanism to ascertain who can act as the underlying node operators is an inevitable necessity:

"It can't be unrestricted, because then attackers would join and amplify their attacks with users' funds."

Related: Ethereum is about to get crushed by liquid staking tokens

Buterin further outlines that a possible approach to address this issue involves encouraging ecosystem participants to utilize a variety of liquid staking providers. 

He clarifies this would decrease the likelihood of any one provider becoming excessively large and posing a systemic risk.

“In the longer term, however, this is an unstable equilibrium, and there is peril in relying too much on moralistic pressure to solve problems," he stated.

Magazine: Are DAOs overhyped and unworkable? Lessons from the front lines

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