Almost half of Russia’s $630 billion reserves have been seized by foreign governments since the invasion of Ukraine. It was relatively easy to do given modern financial infrastructure. The mainstream temptation is to react favorably to this move. Russia will be poorer and so less able to fund its war. The baddies lose, the goodies win. Now consider the story…
Layerzero Labs, the firm behind the interoperability protocol Layerzero, has revealed the company has raised $135 million in a Series A+ finance round led by Andreessen Horowitz (a16z), FTX Ventures, and Sequoia Capital. The new financing brings Layerzero Labs’ overall valuation to $1 billion and the funds will be leveraged to develop cross-chain decentralized applications (dapps) powered by Layerzero. Layerzero…
U.S. companies that safeguard their clients’ crypto-assets received new accounting guidance Thursday in the form of a Securities and Exchange Commission, or SEC, Staff Accounting Bulletin. The guidance got a strong response from SEC commissioner Hester Peirce, a steadfast crypto advocate. Staff Accounting Bulletin 121 noted the high technological, legal and regulatory risks associated with the custody of crypto-assets, relative…
Bitcoin investment companies Seetee and Ten31 have partnered to drive investments in Bitcoin infrastructure. The partnership will see Seetee become Ten31’s lead investment partner for Bitcoin-based projects, companies and founders. The two companies have a track record of investing in over 20 Bitcoin companies and continue to represent values widely held in the space. Bitcoin investment companies Seetee and Ten31…
In brief Nike claims online retailers are selling swoosh-branded NFTs without its permission. The shoe giant has asked a court for an order to destroy the NFT, raising novel legal questions. When a company like Nike finds someone using its brand without permission, it can ask the courts to order the unauthorized goods to be destroyed. Nike has done this…
press release PRESS RELEASE. NovaTerra is a Metaverse MMORPG featuring a play-to-earn model. The game is set in a post-apocalyptic future, where humanity has turned the planet into a barren wasteland. Following the planet-wide devastation, massive drought has made water an extremely scarce and valuable resource. The player character is a survivor who is helping to rebuild society and terraform…
Introduction Several people have recently brought up the contention that bitcoin, as a deflationary money, cannot truly function as real money. This was brought to the surface again by Natasha Che (@RealNatashaChe) in a long Twitter thread. These arguments against a deflationary currency all condense to a belief that, since the money will have more purchasing power tomorrow, no one…
Digital asset sporting project Chiliz has announced the launch of the Scoville testnet for the newly-established layer-1 blockchain network Chiliz Chain 2.0, also known as CC2. CC2 will seek to advance the Web3 capabilities of high-profile sporting and entertainment firms to create nonfungible token (NFT) and fan tokens, construct decentralized finance (DeFi) applications and play-to-earn (P2E) games, as well as implement…
Is it time for a correction after ETH rallied 34% in two weeks? On-chain metrics and derivatives data say yes. Source: https://cointelegraph.com/news/traders-predict-3-800-ethereum-but-multiple-data-points-suggest-otherwise
Circle has selected Bank of New York Mellon as its primary custodian for USD Coin (USDC) reserves. In the past six months, Circle has seen its valuation double to $9 billion and the market cap of its USDC stablecoin increase 60% to $51 billion. “Building trust, stability and resilience in the digital asset economy is foundational to Circle’s mission,” said…
