In brief Crypto analytics firm Nansen has launched a messaging app called Nansen Connect. The app requires a crypto wallet to use and is targeted at NFT and crypto communities. Discord is the reigning chat app of choice for the Web3 community, ranging from NFT projects to DAO communities—but frequent scams are taking the shine off of the service. Now,…
ETH was close to falling below $1,000 on Wednesday, as markets began to prepare for the latest Fed policy meeting. Many expect that the FOMC will opt to hike interest rates today, as inflation continues to peak. BTC was also lower, hovering slightly above $20,000. Bitcoin BTC was hovering marginally above $20,000 in today’s session, as markets were anticipating the…
Tech billionaire, and currently the world’s fourth-richest person, Bill Gates, spoke at the TechCrunch climate change conference Tuesday about the progress society has made in supporting the climate movement, his assessment of current global economics, alongside his skepticism of NFTs. The NFT market has closely correlated the tumultuous financial decline of cryptocurrencies over the past few months, as previously sought-after…
Billionaire Microsoft co-founder Bill Gates has dismissed investments in cryptocurrencies and NFTs, arguing that the digital assets market is largely driven by speculation. “As an asset class, it’s 100% based on the greater fool theory—that somebody’s going to pay more for it than I do,” Gates said during the TechCrunch Sessions: Climate 2022 conference on Tuesday. The greater fool theory…
Celsius isn’t the only decentralized finance (DeFi) lending platform having a bad week; yesterday, competitor BlockFi was asked to pay a $943,396.22 fine from the state of Iowa’s Insurance Division Fines (IID) for selling unregistered securities. The IID fine is part of a broader multi-state investigation that has resulted in BlockFi agreeing to pay a total of $100 million to…
The price of Nexo (NEXO) continued to fall on June 15, as Nexo denied rumors of exposure to Three Arrows Capital (3AC), a Dubai-based crypto fund facing insolvency risks. NEXO price suffers on DeFi contagion fears NEXO, which serves as a security token at a cryptocurrency lending platform of the same name, fell nearly 25% to $0.61 a unit, its…
U.S. Securities and Exchange Commission chairman Gary Gensler has expressed concerns that a proposed bill on how cryptocurrencies are regulated could weaken consumer protections. The bipartisan bill, called the Responsible Financial Innovation Act, would clarify the role of various regulators in regards to cryptocurrency and shift some responsibility for the sector from the SEC over to the Commodity Futures Trading…
Thousands of Ukrainians have ordered a crypto card issued by the world’s leading digital asset exchange, Binance, for its users from the war-torn country. The card allows people displaced by the ongoing conflict with Russia to make payments and receive financial support. Binance Announces Results From Efforts to Help Ukrainian Refugees Between April 26 and June 10, almost 70,000 people…
A bill that had been introduced a week ago to the State Duma, the lower chamber of Russian Parliament, made a swift passing through first reading. Should it become a law, it would prohibit using “digital financial actives” (DFA) to pay for goods or services. As reported by local media on Tuesday, the bill, sponsored by the head of the…
In light of the recent fragility in the decentralized finance (DeFi) sector, Bitcoin (BTC) maximalist and MicroStrategy CEO Michael Saylor feels that Bitcoin and the Lightning network can come to the rescue of the DeFi market. With two enormous protocols, Terra and Celcius, facing acute difficulties within a month of each other, the DeFi sector is going through a tough time.…
