gm: Inside NFT Unicorn Magic Eden With CEO Jack Lu Magic Eden launched 1 year ago and already has a $1.6 billion valuation. It started as a marketplace only for Solana NFTs, but now it’s opening up to Ethereum. Co-founder and CEO Jack Lu tells Dan Roberts and Stephen Graves all about the company’s goals, his take on NFT backlash,…
NFTs are a game-changing technology, providing ownership for digital assets and serving as certificates for holders or access keys for the underlying content, which could be music, movies, art, real estate, and a lot of other stuff. However, what makes nonfungible tokens (NFTs) useful in real terms is metadata. It may not be a buzzword exactly but it ensures the…
The largest non-fungible token (NFT) marketplace by sales volume, Opensea, has announced a new “immersive and secure minting experience” by giving NFT creators the ability to showcase “collections with dedicated drop pages and greater discoverability” on Opensea’s new homepage. Moreover, the company also announced on Tuesday that the NFT marketplace will soon support the layer two (L2) protocol Arbitrum. Opensea…
The global digital bank FV Bank is the latest financial platform to enable deposits in Circle-backed stablecoin USD Coin (USDC). FV Bank on Wednesday announced the launch of a new service allowing its account holders to make direct deposits in USDC to the bank’s U.S. dollar accounts. The new feature enables customers to receive USDC on their accounts similar to…
Crypto exchanges Binance and FTX have reportedly made the top bids of approximately $50 million each for the assets of the bankrupt crypto lending firm Voyager Digital. Binance’s current bid is slightly higher than that offered by FTX, according to a Tuesday report by the Wall Street Journal citing sources familiar with the matter. The WSJ’s sources said that neither…
The judge for the United States District Court for the Southern District of New York, Katherine Polk Failla, ordered Tether to prove 1-to-1 backing of its eponymous stablecoin, Tether (USDT). The company is required to provide “general ledgers, balance sheets, income statements, cash-flow statements, and profit and loss statements” and other documents to the court. The order was published on…
A judge in New York has ordered stablecoin issuer Tether to produce financial documents proving the dollar backing of USDT, as part of a lawsuit alleging the firm manipulated crypto markets. Tether, which is owned by the same company as crypto exchange Bitfinex, has been ordered to release “general ledgers, balance sheets, income statements, cash-flow statements, and profit and loss…
Africa-focused crypto exchange Yellow Card recently revealed it has closed its $40 million Series B funding round. The exchange’s announcement of its latest capital raise comes just over a year after it raised $15 million from its Series A round. Funds to Be Used for Development of New Products Yellow Card, an Africa-focused cryptocurrency exchange, recently disclosed it had closed…
After a successful Ethereum Merge, all eyes are set on the next phase of transition that would introduce key scalability solutions on the platform, including sharding. Market experts believe sharding would be a game changer for the Ethereum network as it could potentially solve the scalability trilemma. In an exclusive conversation with Cointelegraph, Uphold’s head of research, Dr. Martin Hiesboeck, explained how…
China’s central bank intends to enlarge the area covered by trials of its digital yuan currency in four regions of the country. A top representative of the monetary authority announced the move while highlighting that the People’s Bank has been stepping up digitalization efforts this year. Government to Increase Digital Yuan Coverage in 4 Provinces of China Chinese authorities are…
