Since the founding of Ethereum in 2015, an animating question that plagued the community was answered at exactly 06:42:59 UTC on Thursday, Sept. 15, 2022. Ethereum, the technological layer where a new class of applications and self-organizing organizations are being built, eliminated its reliance on an energy-intensive consensus mechanism called proof-of-work (PoW) to a more sustainable and secure consensus mechanism…
Grayscale Investment’s Bitcoin Trust (GBTC) has dropped to a new low this week as the bitcoin fund tapped a record 35.18% low against bitcoin spot prices. GBTC’s discount to spot has been underwater for a total of 577 consecutive days. GBTC Discount to NAV Widens by 35% — Fund Reaches an All-Time Low Against BTC Spot Price The Grayscale Bitcoin…
Michael J. Burry, the financial wizard who was portrayed in the movie “The Big Short”, is known for predicting crises. For instance, his investment fund made billions from the 2008 housing crash, and Burry liquidated almost all his entire portfolio during the 2Q of 2022. Given that no one seems to know whether traditional markets will bounce before entering a…
State securities regulators in California and several other states took action against Nexo Group, the parent company of crypto lender Nexo, on Monday, calling the company’s Earn Interest Product an unregistered security. “These crypto interest accounts are securities and are subject to investor protections under the law, including adequate disclosure of the risk involved,” California Department of Financial Protection and…
The European Central Bank (ECB) needs a wholesale central bank digital currency (CBDC) because market players expect it, ECB executive board member Fabio Panetta told a banking symposium in Germany on Monday. Two options for wholesale CBDCs are currently under consideration. Wholesale CBDC is not a new concept, Panetta said. Eurosystem’s Target2 uses a centralized CBDC, strictly speaking. Target2 is…
In brief Pixelmon, a Web3 game project that raised $70 million from primary NFT sales, has announced new leadership and development plans. The project was widely panned after its February artwork reveal, but the original creature artwork has since been replaced. Perhaps no project was a greater sign of the NFT world’s excess and speculative frenzy earlier this year than…
How Web3 Music App Audius Hit 7.5 Million Users: CEO Roneil Rumburg at Mainnet 2022 Audius founder and CEO Roneil Rumburg joins Decrypt’s Kate Irwin and Andrew Hayward in our Decrypting Mainnet series at Mainnet 2022 to tell us what’s new with the decentralized music-streaming app and who its competitors in web3 music services are. Source: https://decrypt.co/videos/live-events/yDPsxe8Y/how-web3-music-app-audius-hit-75-million-users-ceo-roneil-rumburg-at-mainnet-2022
Steven Goldfeder of Offchain Labs Talks Arbitrum Bug and Layer-2 Competition Steven Goldfeder, co-founder and CEO of Arbitrum developer Offchain Labs, tells Decrypt’s Liam Kelly in our Decrypting Mainnet series at Mainnet 2022 how Arbitrum is handling its recent bug, how he thinks about competitors to Arbitrum, and how to convince DeFi users that bridging funds is safe even when…
According to a new analysis posted by Reddit user u/Warfared, Reddit Avatar nonfungible tokens, or NFTs, have seen erratic price performance in the past months. The analysis tracked the exchange of NFTs on popular NFT trading platform OpenSea.io. Among the top performers were the Fishy Foustling #1 and Mio Armor #1 NFT pieces, boasting a last sale price of 6…
Ernst & Young Is ‘All In on Public Blockchains’: Paul Brody at Mainnet 2022 Paul Brody tells Decrypt’s Dan Roberts and Stacy Elliott in our Decrypting Mainnet series at Mainnet 2022 why EY is “all in on public blockchains” and why any big companies that are still building private, closed blockchains don’t get it. Source: https://decrypt.co/videos/live-events/U03QVVpr/ernst-young-is-all-in-on-public-blockchains-paul-brody-at-mainnet-2022
