Today’s social media landscape is dominated by Web2 corporations — mostly Meta (Facebook) and Twitter. The companies collect data from billions of users and collect billions of dollars in revenue from user-generated content. While it’s great for the corporations and their shareholders, it comes at a cost for average users and professional content creators. But in the near future, decentralized…
An analyst at the New York-based financial services and investment management company Morgan Stanley detailed on Monday that crypto liquidity seems to be recovering. Morgan Stanley’s Sheena Shah highlighted in a note to investors that the stablecoin market capitalization is seeing fewer redemptions for the first time since April. Morgan Stanley Investors’ Note Says Crypto Winter Could Be Thawing, but…
Lawyers representing Nathaniel Chastain, the former OpenSea product manager accused of insider trading, have claimed United States authorities only filed charges in an attempt to set a legal precedent that nonfungible tokens (NFTs) are securities. In a Friday filing with the Southern District of New York court, Chastain’s legal team from Greenberg Traurig filed a motion to dismiss the indictment…
BendDAO, which uses NFTs as collateral to loan Ethereum to borrowers, is in hot water. The project’s DAO—a community centered around a shared initiative that uses blockchain-based tokens for collective voting—must now decide whether to adopt a new policy on its liquidation thresholds after seeing its treasury all but drained. “They’ve run out of ETH,” Proof’s head of research, “punk9059,”…
The European stock markets and the United States equities markets are both deep in the red on Aug. 22 as investors fear that aggressive rate hikes may not be off the table. Another thing keeping investors nervous could be the upcoming Jackson Hole economic symposium, which is scheduled to begin on Aug. 25. Investors are concerned that Federal Reserve chairman…
According to local news outlet 36kr.com, Chinese technology conglomerate Tencent recently received a novel patent for a blockchain-based missing persons poster. The patent took nearly three years to be awarded from the date of its first submission in December 2019. The paten consists of a data generation request upon user submission that a person has gone missing. The proposal is…
The number of unregistered cryptocurrency-related businesses continues to outweigh those signed up with the United Kingdom’s Financial Conduct Authority. Crypto.com became the latest business from the cryptocurrency ecosystem to register with the FCA, joining a list of a confirmed 37 companies with the green light to offer services in the country. Just seven businesses have gone through the registration process in…
The U.S. dollar has been very strong compared to a myriad of fiat currencies worldwide and this week, the euro dropped below the USD for the second time in 20 years after meeting parity with the dollar in mid-July. The dollar’s recent brawniness has resulted in the largest weekly rise since March 2020, according to Commodity Futures Trading Commission (CFTC)…
Despite announcing it would cut its staff by roughly 5% in June and the recent market downturn, cryptocurrency exchange Crypto.com has continued to move forward with an agreement to rebrand the Los Angeles-based venue formerly known as the Staples Center. In a Monday tweet, Crypto.com released an artist’s rendering of some of the changes it planned to implement at the…
Coinbase is pleased to share the addition of PayPal to the Travel Rule Universal Solution Technology (TRUST) network. TRUST is a global, industry-driven solution designed to increase compliance with a requirement known as the Travel Rule while prioritizing the security and privacy of customers. PayPal has been a leader in digital payments for more than 20 years by leveraging technology…
