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21/04/2022

Ethereum's native token Ether (ETH) rose above $3,000 as fresh data suggests Three Arrows Capital staked at least $110 million worth of ETH into Lido's liquidity pools.

The Singapore-based hedge fund manager provided liquidity worth 36,401 ETH to Lido's "Curve stETH pool" using a third-party Ether wallet, data from Etherscan shows. As a result, it became eligible to receive at least 36,401 stacked Ether (stETH) tokens from Lido: to ensure low slippage when un-staking those tokens for real ETH plus staking reward."

The Three Arrows Capital's massive Ether inflow into Lido staking pools came ahead of the launch of Ethereum's new validation system in summer 2022.

Ethereum will switch its network protocol from energy-intensive proof-of-work to proof-of-stake, which lets users validate transactions and add blocks to the Ethereum blockchain by staking 32 ETH or its multiples for at least one year to earn annual yields.

21/04/2022

One project that is looking to capitalize on this growing trend by establishing tools for the new Web3 data economy is Ocean Protocol (OCEAN), a blockchain ecosystem that helps individuals and businesses unlock the value of their data and monetize it through the use of datatokens.

According to the project, Ocean v4 will include several upgrades including a mechanism that purports to solve rug pulls in the datatoken pools by eliminating the initial datatokens provided to publishers. The new protocol upgrade will also see the introduction of data NFTs, which add nonfungible token capabilities to base intellectual property (IP) as a way to help increase revenue streams, as well as the addition of new ways for the community to monetized data.

Ocean v4 will initially be deployed on the Ethereum Virtual Machine (EVM) chains that currently support v3, including the Ethereum mainnet, Polygon, BNB Smart Chain, Moonriver and Energy Web Chain, and will be deployed on additional EVM chains over time.

20/04/2022

A new week in the cryptocurrency market has brought more of the same sideways price action that the wider ecosystem has experienced in recent months, as Bitcoin (BTC) continues to hold support near $41,000 while some analysts warn that high inflation and rising interest rates could see the top cryptocurrency fall to $30,000.

On the altcoin front, Ether (ETH) appears to be showing some signs of life as noted by cryptocurrency analyst W***y Woo, who recently tweeted that “Ether [is] setting up to break upwards out of a very long term, 3.5-month bearish trend line.”

Data from TradingView shows that the ETH price is now trading above support at $2,900, with bulls looking to make another run at breaking the $3,000 resistance after being firmly rejected at that level over the past few days.

20/04/2022

A survey on investors across the United Kingdom has revealed a growing interest in the new asset classes that threaten to overshadow traditional finance, which is driven by factors such as ease of access and an adolescent crypto market.

Among the 2,000 U.K. residents who were surveyed by OnePoll via Tokenise, 81% of the responders chose tokens as the safer and securer alternative to traditional investments such as gold, oil, shares and real estate:

“Driven by a difficult climate for traditional investment vehicles due to the pandemic, low-interest rates and inflation, the time is right for tokens to take centre stage.”

Out of the lot, 24% revealed interest in investments in tokens or nonfungible tokens (NFT) in 2022, which highlights a “critical tipping point” for token adoption. As a result, the rising interest is complemented by a growing number of providers and exchanges that intend to capitalize on the demand.

Some of the key drivers for nearly 55% of the existing crypto investors across the U.K. include influencer marketing via artists, musicians and collectors, while 49% got roped in by the ability to make purchases through app-based marketplaces.

19/04/2022

According to the latest data from Crypto Head, more than 900 people worldwide have inked themselves with the Bitcoin (BTC) “B” while Dogecoin (DOGE) and Ethereum (ETH) tattoos are on the rise.

The research analyzed “Instagram hashtags and Google search volumes,” revealing crypto tattoo searches have increased by 222%. Despite lackluster price action, more and more crypto enthusiasts seek to get inked with a crypto logo.

19/04/2022

Yuga Labs, the creators of Bored Ape Yacht Club (BAYC) and new owners of the CryptoPunks and Meebits brands, announced it is now valued at $4 billion after its latest $450 million seed funding round. VC firm Andreessen Horowitz, or a16z, led the company's first institutional investment, marking one of the largest seed rounds for any nonfungible token (NFT) collection to date.

Other investors included Animoca Brands, FTX and MoonPay, as well as LionTree, Sound Ventures and Thrive Capital. The company plans to use the funds to scale its team, attract more creative, engineering and operations talent, as well as for future joint ventures and partnerships.

To celebrate the occasion, Chris Lyons, a general partner at Andreessen Horowitz, loaned his Bored Ape to a16z, which uploaded it as the firm's new profile picture on Twitter. Lyons tweeted that he will be joining the board of Yuga Labs to help "define the future of culture and innovation."

18/04/2022

Goldman Sachs continues to expand its cryptocurrency trading expertise by executing its first-ever over-the-counter (OTC) crypto options trade.

Goldman Sachs executed its first OTC crypto transaction in collaboration with the trading unit of Michael Novogratz’s cryptocurrency investment management firm Galaxy Digital. The OTC transaction was in the form of a Bitcoin (BTC) non-deliverable option, representing one of the first OTC crypto transactions by a major bank in the United States.

The latest collaboration between Goldman Sachs and Galaxy Digital also represents a continuation of the bank’s partnership with Galaxy to improve its crypto capabilities.

Galaxy facilitated the launch of Goldman Sachs’ Bitcoin futures trading product for CME Group in June 2021. According to data from the U.S. Securities and Exchange Commission, Goldman Sachs also offers its clients exposure to the Ether cryptocurrency (ETH) through Galaxy Digital’s Ethereum Fund.

18/04/2022

Cryptocurrency exchange Gemini has received an electronic money license from the Central Bank of Ireland. It was the 18th organization to receive the license, and the first since October 2020. Gemini joined such license holders as Coinbase, Stripe, Square and Meta.

The e-money license, for which Gemini applied in early 2020 and received oMarch 14, will allow it to issue electronic money, provide electronic payment services and handle electronic payments for third parties. It will also enable the company to passport those services to European Economic Area countries, which are European Union members, Iceland, Liechtenstein and Norway. Gemini already provides exchange services in those countries.

Gemini also provides exchange and e-money services in the United Kingdom, thanks to its authorization by that country’s Financial Conduct Authority.

There is increasing consciousness in the country of the need for cryptocurrency regulation. The Oireachtas Finance Committee agreed to consider regulation in February when it requested briefing documents from the Central Bank and the Revenue Commissioners tax authority. The Central Bank already enforces European Anti-Money Laundering laws for virtual asset services providers.

17/04/2022

Euroclear, a securities clearing firm that claims it has over 37.6 trillion euros in assets under custody, announced an investment into Fnality, a consortium of financial institutions focused on the regulated adoption of tokenized assets and marketplaces, for an undisclosed amount. Meanwhile, Euroclear is also focusing on developing its distributed ledger technology, or DLT, to settle digital securities against digital cash through the partnership.

The solution aims to increase the speed and efficiency of post-trade operations in areas such as market issuance, collateral trades and servicing interest payments. Founded in 2019, Fnality International said that it seeks to improve the efficiency of central banks for payment settlements. Its notable shareholders include Barclays, CIBC, Credit Suisse, ING, Mizuho Bank Nasdaq and UBS. Regarding the development, CEO of Fnality International Rhomaios Ram said:

"Welcoming Euroclear Group as an investor into the Fnality International consortium will significantly enhance the diversification of Fnality’s network and expand our footprint around Financial Market Infrastructure."

16/04/2022

Businesses in El Salvador have been slow to adopt Bitcoin (BTC) ever since the country famously recognized the digital asset as legal tender in September 2021, according to a recent survey by the Salvadoran Chamber of Commerce.

While the low adoption rate may appear underwhelming at the surface, El Salvador has been on the United States dollar standard since 2001. Unlike the currencies of other emerging economies, El Salvador’s primary medium of exchange is not prone to exchange-rate volatility. Even in this environment, more than one-in-ten businesses in the country reported Bitcoin usage over a five-month period.

Salvadoran President Nayib Bukele has put Bitcoin near the center of his economic growth strategy even as institutions like the International Monetary Fund and Moody‘s Investors Service have warned against embracing the flagship cryptocurrency. In January, Moody’s analyst Jaime Reusche opined that Bukele’s Bitcoin gambit could undermine his country’s sovereign credit outlook.

15/04/2022

Much loved retail video game store chain GameStop (GME) is looking ahead to its long-awaited NFT marketplace and Web3 gaming unit after suffering a net loss of $147.5 million during Q4 2021

GameStop quietly built a barebones NFT website in mid-2021 but has significantly ramped up efforts this year after unveiling an NFT and Web3 gaming division in January along with penning a major partnership with Ethereum (ETH) scaling solution Immutable X the following month to build an NFT marketplace.

The firm also highlighted that the Immutable X deal is set to fetch the firm $150 million worth of IMX tokens upon the “achievement of certain milestones,” and noted that it has hired “dozens of additional individuals with experience in areas such as blockchain gaming, e-commerce and technology, product refurbishment and operations.”

14/04/2022

Deputy communications and multimedia minister Datuk Zahidi Zainul Abidin has urged Malaysia’s regulators to legalize certain use cases of cryptocurrencies and nonfungible tokens (NFT), local news agency Harian Metro reported on Monday.

Zahidi pointed out that such measures would significantly support young people, as the cryptocurrency industry has been growing increasingly popular among the younger generation. He also said that the KKMM is exploring ways to increase the participation of young people in the industry.

The deputy minister noted that the decision on crypto regulation is up to Malaysia’s financial regulators including the central bank and the Securities Commission Malaysia.

However, the ministry is willing to bring this issue up because the crypto industry is the “business and financial program of the future, especially for young people now,” Zahidi said, adding:

“We hope the government can try to legalize this matter so that we can expand the participation of young people in cryptocurrencies and help them in terms of energy consumption and so on.”

13/04/2022

The founder of Terraform Labs (TFL) and Ethereum competitor Terra (LUNA) Do Kwon has outlined plans to accumulate a whopping $10 billion worth of Bitcoin (BTC) to add to the project’s stablecoin reserves.

Terra is a decentralized blockchain platform that specializes in stablecoin minting. Its Terra USD (UST) is an algorithmic stablecoin pegged to the value of the U.S. dollar, with the USD value partly maintained via an equivalent amount of its native token LUNA.

Specific details are sparse at this stage that Terra will not sell its native asset LUNA to build its reserves, and that more information is coming soon.

Kwon also bullishly emphasized that its stablecoin TerraUSD (UST) backed by $10 billion plus in BTC reserves will “open a new monetary era of the Bitcoin standard.”

12/04/2022

Described by many users and outsiders as the Wild West, Web3 is open-source and decentralized, and it has been prompting many to look for ways to profit from its features, especially with the growing Metaverse.

While some companies and investors are sorting out where to place their best bets, popular rapper and nonfungible token collector Snoop Dogg seems to have found his rhythm and is beating many to the market.

The cannabis and NFT connoisseur announced he had joined the digitally native lifestyle and gaming platform FaZe Clan on March 7, with the intention of strengthening the cultural connection between music and gaming. Through his participation with digital collectibles, Snoop Dogg has elevated his credentials in the Web3 sector and is considered by pundits to be a prominent voice.

11/04/2022

Solana (SOL) Pay is considered by many to be the next innovation in the payments processing arena, facilitating payments while taking nonfungible tokens (NFTs) and Web3 into account. Some are going so far as to call Solana’s new payment protocol the Visa or PayPal of Web3.

Digital payment platform Solana Pay offers businesses and customers immediate, fee-free transactions that allegedly have zero effect on the environment by harnessing the power of the Solana blockchain network. The network claims to support 65,000 transactions per second and provides an easy-to-implement software development kit for businesses to integrate the product.

Developers building DApps on Solana can integrate Solana Pay for easy transactions, just as traditional retailers can implement it if they have a Solana wallet. That accessibility is why many compare Solana to PayPal, stating that Solana can do for crypto payments what PayPal did for traditional online payments.

10/04/2022

nce is looking to diversify its business interests by acquiring companies outside the scope of cryptocurrency, according to a report from the Financial Times.

Already holding the title of the world’s largest crypto exchange, Binance is aiming to bring in companies from traditional markets in an attempt to further increase broad-scale crypto adoption and diversify its own business. Nudging traditional companies to embrace crypto will put pressure on the slow-movers and increase overall market competition.

This announcement comes not long after Binance’s monumental $200 million investment in publisher Forbes in early Feb, solidifying Binance as one of the two largest owners of the media company.

09/04/2022

The much-anticipated ‘Merge’ on the Ethereum network is another step closer to becoming a reality after the final public testnet Kiln launched to put it through its paces.

The Ethereum Foundation urged network stakeholders to run tests using Kiln to ensure a smooth transition on existing public testnets. It is strongly recommended that developers run through a full testing & deployment cycle on Kiln and report any issues with tools or dependencies to those projects’ maintainers.

Ethereum developer Tim Beiko confirmed that Kiln has gone live and will soon be ready to merge with the Beacon Chain in a Monday tweet. The testnet launched late last week in proof-of-work (PoW) mode only.

08/04/2022

The crypto exchange officially announced the launch of Bifinity, Binance’s official fiat-to-crypto payment company, to connect crypto service providers with the traditional financial system.

Bifinity supports more than 50 cryptocurrencies, including major coins like Bitcoin (BTC) and Ether (ETH), as well as popular payment platforms like Visa, Mastercard and others. It specifically allows merchants and businesses to adopt and provide crypto services to their customers via offering buy-and-sell crypto services as well as API crypto payments integrations.

Bifinity entered a strategic partnership with Eqonex to provide a $36 million convertible loan to jointly expand the companies' products, including Eqonex’s crypto custody solution Digivault, according to a separate announcement by Eqonex. Bifinity will also have the right to appoint the CEO, the chief financial officer and the chief legal officer of Eqonex as well as nominate two seats on Eqonex’s Board of Directors — all from within its company. Eqonex is known for offering Bitcoin investment products like BTC futures.

07/04/2022

Financial services giant Goldman Sachs has been offering clients exposure to Ether (ETH) through Galaxy Digital’s Ethereum Fund, according to a new Securities and Exchange Commission filing.

Goldman Sachs clients keen on spot exposure to ETH have been offered space in Galaxy’s ETH Fund. This strategy became apparent, filing from Galaxy which listed Goldman as a recipient of introduction fees for referring clients to the fund.

Galaxy Digital is billionaire Mike Novogratz’s crypto-focused financial service provider. It controlled $2.8 billion assets under management (AUM) as of the end of Q4 2021.

It is unclear exactly how much Goldman clients have bought, but the minimum investment per investor is $250,000. The filing also states that Galaxy’s ETH Fund has had sales of just over $50.5 million since inception.

06/04/2022

The utilization of security tokens covers a wide variety of industries from fine art, wine and insurance, but none are growing as fast as the real estate sector, which makes up 89% of all traded security tokens. Breaking down that 89% further, residential real estate accounts for 87%, while commercial only takes up 2% of what has been transacted as a security token. The global real estate market in 2021 was around $3.38 trillion, and with the rise in different applications that make use of blockchain technology, it is no surprise that the crypto revolution would find its way into real estate.

Ownership of title and property is well-suited for blockchain applications, as triple-ledger accounting (who sold, who bought, and signatures) is built directly into the systems that make up the process of exchange. The verifiability and trustlessness of the technology make it ideal for removing many different barriers to transactions that plague the traditional real estate space.

An example is title searchers and the process of insuring them. It takes both time and money for mortgage lenders and buyers to go through a title search on a property to ensure that the seller has the legal ability to transfer property rights to the buyer. With a tokenized property asset, this becomes a simple task of conducting a blockchain search. This is just the tip of the real estate toaken iceberg. Purchase the report to find out more.

05/04/2022

According to a survey conducted by Art Tactic and published by Bloomberg, female artists accounted for only 5% of sales in the NFT market. In comparison, male artist creations made up 77% of sales (16% were byunknown artists, and 2% were collectively created).

The challenges faced by female creators when they first enter the NFT sector as based on "the broader technology industry. The traditional technology industry has historically catered towards male ambitions and success, creating a misguided expectation that tech is primarily for men.

Awareness is a crucial first step in encouraging more women to get involved in the NFT industry. As she puts it, by championing successful female creators and women-led initiatives, we establish a precedent for future generations of innovators that the NFT sector is a "community for women."

According to XBTO's Rebekah Keida, two important measures for increasing the number of women involved in the NFT and Web3 spaces are "enrolling more people in cryptocurrency education and fostering a greater sense of inclusion."

04/04/2022

Visa is inviting new college graduates to join its 18-month rotational Crypto Development Program. Applicants will alternate between the three departments of Visa's current crypto ecosystem: crypto product, crypto solutions and digital partnership, where they are given training, development, mentoring, networking and leadership exposure on top of practical experience in the industry.

The job listing does not require any specific majors, although those studying the liberal arts, business, computer science and related fields are preferred. In addition, only applicants who graduated or will graduate from a baccalaureate program between December 2021 and August 2022 qualify.

Notable duties include building subject matter expertise in specific areas of crypto, learning how to build new products inside of Visa, discovering how crypto companies operate, supporting product partnerships and learning about new crypto business models.

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