When most people think of Coinbase, the decade-old publicly traded crypto company, product innovation may not be the first thing that comes to mind. At ETH Denver, however, Coinbase head of protocols Jesse Pollak says the company aims to change that. “If we look at the history of Coinbase and crypto over the last 10 years, it’s been very trading-centric,”…
Kevin Owocki is something of a celebrity at ETHDenver, the Web3 hackathon and conference taking place this week in Colorado’s capital. Now the Gitcoin co-founder and erstwhile CEO is using the event to go public with his latest venture: Supermodular. Supermodular aims to be a venture studio for regenerative Web3 projects. Whereas millions of people lassoed onto decentralized finance during…
On March 4, 2023, cryptocurrency exchange Bybit announced that it had suspended U.S. dollar deposits via bank transfer. Bybit cited “outages” from its partner as the reason for the suspension of USD deposits via bank transfers and the SWIFT network. Bybit Suspends USD Deposits, Wire Transfer Withdrawals Open Until March 10 The cryptocurrency exchange Bybit, founded in 2018, announced on…
According to the proposal submitted to District Judge Lewis Kaplan of the Southern District of New York, Bankman-Fried should be prohibited from using smartphones, tablets, computers and any type of video game platforms or devices that allow chat and voice communication. The proposal restricts his communication to “a flip phone or other non-smartphone with either no internet capabilities or internet…
Neal Stephenson coined the word “metaverse” in his seminal 1992 sci-fi novel Snow Crash. 30 years later, Sotheby’s is auctioning off rare items associated with the book, and Stephenson is working on a new layer-1 blockchain company for the metaverse, Lamina1. The company’s stated purpose is to help creators build the “open metaverse,” the term Stephenson says he uses to…
As the number of Bitcoin-based Ordinal inscriptions nears the 300,000 mark, Galaxy Digital’s research team published a report on the subject that says the market size of non-fungible tokens (NFTs) built on Bitcoin could reach $4.5 billion over the next two years. The researchers at Galaxy think that new use cases stemming from the inscription trend will “drive growing interest…
As the number of Bitcoin-based Ordinal inscriptions nears the 300,000 mark, Galaxy Digital’s research team published a report on the subject that says the market size of non-fungible tokens (NFTs) built on Bitcoin could reach $4.5 billion over the next two years. The researchers at Galaxy think that new use cases stemming from the inscription trend will “drive growing interest…
Decrypting DeFi is Decrypt’s DeFi email newsletter. (art: Grant Kempster) Ethereum’s Shanghai upgrade is just around the corner and that means users are starting to place their bets. All of the attention on this specific upgrade revolves around one thing: withdrawing staked Ethereum. Since staking launched back in December 2020, the network just embarking on its journey to a proof-of-stake…
Crypto bank Silvergate announced on March 3 that it is discontinuing its digital assets’ payment network, claiming the termination is a “risk-based decision”. The move comes after the bank’s stock fell over 59% in the past five days due to fears of a potential bankruptcy. A disclaimer on Silvergate’s website stated: “Effective immediately Silvergate Bank has made a risk-based decision…
Binance’s third-place ranking as the market’s largest stablecoin may soon change. On February 13, Paxos Trust, the stablecoin’s operator, announced that it would stop minting the Binance-branded stablecoin BUSD. The move followed more news that the SEC intended to sue Paxos for violating investor protection laws. Stablecoins are cryptocurrencies pegged to fiat currencies, like the dollar or the euro. It’s…
