Web3 and DeFi are still leading funding activity in the venture capital space, even as deals slow down, according to a new report. Investment in emerging technologies fell for the third consecutive quarter in the three months to September 2022, the latest Emerging Tech Indicator report from Pitchbook found, with deal values reaching $4.7 billion, down 32% on the spring’s…
This is an opinion editorial by Don McAllister, a technologist who has made several video tutorials on Bitcoin. At its inception, bitcoin was worthless; it had no monetary value. Early adopters could mine hundreds, if not thousands of bitcoin on simple laptops. As such, there was no need to enumerate it in other units than whole bitcoin. The Bitcoin protocol…
Ron Wyden, chair for the United States Senate Finance Committee, has requested information from six crypto firms on consumer protection following FTX’s liquidity issues and bankruptcy. In separate letters dated on Nov. 28, Wyden targeted Binance, Coinbase, Bitfinex, Gemini, Kraken and KuCoin, requesting information on what protections the exchanges had in place if a failure like the one that happened…
In brief Burn Ghost, a startup focused on casual games that reward NFT prizes to players, has raised $3.1 million in funding. Drive by DraftKings and Bitkraft Ventures co-led the seed round for the firm, which was founded by game industry veterans. As NFTs have taken hold, a growing number of games are using crypto assets for interactive in-game items,…
This is an opinion editorial by Anita Posch, the founder of Bitcoin For Fairness who has traveled extensively around the world to learn how the globally unbanked can benefit from sovereign money. In 2022, European politicians formed an initiative with the goal of banning proof-of-work mining because of its high electricity consumption. The underlying goal is to blame Bitcoin for…
The Spanish securities regulator (CNMV) has warned investors against putting funds in crypto-related companies. Montserrat Martinez Parera, vice president of the organization, stated that lack of control is one of the causes of the downfall of the crypto exchange FTX, and that anyone looking at crypto as an investment must be very careful due to the lack of regulation in…
Russian billionaire Vyacheslav Taran, president of Libertex Group and founder of Forex Club, died Nov. 25 in a helicopter crash in France while en route from Lausanne to Monaco, Switzerland. He was 53. The helicopter pilot, the only other person aboard the craft, also died. Libertex has confirmed Taran’s death, stating: “It is with great sadness that Libertex Group confirms…
The collapse of crypto exchange FTX highlights the need for Congress to “learn more” about cryptocurrency, said Sen. Cynthia Lummis (R-WY), known as the “Bitcoin Senator” for her cryptocurrency advocacy on Capitol Hill. Lummis, who introduced the bipartisan Responsible Financial Innovation Act alongside Kirsten Gillibrand (D-NY) earlier this year, spoke in a pre-recorded interview at the Financial Times’ Crypto and Digital Asset…
BlockFi has filed for chapter 11 bankruptcy, according to a press release. The lending platform is the latest victim of contagion within the industry that originated with the collapse of the cryptocurrency exchange FTX. According to the filing, BlockFi has over 100,000 estimated creditors and an estimated $1-10 billion in liabilities. The filing confirms that the firm has $256.9 million…
The collapse of Do Kwon’s Terra empire in May, and Sam Bankman-Fried’s FTX in early November 2022, will be remembered as two incidents that put the crypto industry on the back foot. It is now widely expected that regulators around the world will use the two incidents to justify the establishment of regulatory regimes that are likely to stifle further…
