The House Financial Services Committee (HFSC) passed the CBDC Anti-Surveillance State Act on Wednesday, readying the legislation for a future vote on the House floor. Proposed by crypto-supportive Congressman Tom Emmer (R-MN), the legislation aims to bar the Federal Reserve from issuing a Central Bank Digital Currency (CBDC) to individuals. Emmer has referred to CBDCs as “financial surveillance tools.” Numerous…
Principles written almost 500 years ago by Niccolò Machiavelli — author of the controversial political work “The Prince” — are the path to solving decentralized governance issues on autonomous organizations, according to a blog post by venture capital firm Andreessen Horowitz (a16z). The piece is signed by a16z’s general counsel and head of decentralization Miles Jennings, who believes that “applying…
The Financial Conduct Authority (FCA), the United Kingdom’s financial markets regulator, has again expressed its concern over the lack of engagement on the part of crypto firms that will soon be subject to new marketing rules. The consequences of noncompliance could be severe, it warned. In a letter dated Sept. 21, the FCA said it was making a final warning…
Stablecoin issuer Tether has resumed providing new loans denominated in USDT to clients, a move that comes nearly a year after the company had announced its intention to discontinue offering collateralized loans in 2023. The revelation comes from the company’s latest quarterly financial update, which indicates an increase in USDT-denominated loans. As of June 30, the report showed assets that…
An executive at the cryptocurrency exchange Binance said in a public hearing with the European Banking Authority (EBA) that it plans to delist stablecoins for the European market by June 2024. Marina Parthuisot, the head of legal at Binance France, said that since no project has yet to receive approval, “we are heading to a delisting of all stablecoins in…
Venmo, a versatile financial application, provides a range of features, including peer-to-peer (P2P) money transfers and cryptocurrency transactions. Serving as a comprehensive financial tool, Venmo enables users to seamlessly handle transactions, including the option to participate in digital currencies like Bitcoin (BTC). The app is designed to simplify financial operations and assist users in navigating contemporary economic systems. What is…
Proof of Play, the game studio behind the blockchain-based social role-playing game Pirate Nation, announced today that it has raised $33 million in seed funding in a round co-led by Andreessen Horowitz and Greenoaks Capital. The studio, co-founded by CEO Amitt Mahajan—previously co-creator of the smash casual game FarmVille at Zynga—says it will use the funding to grow the company…
Proof of Play, a company led by Farmville co-creator Amitt Mahajan, raised $33 million to create Web3 games, according to a Sept. 21 announcement. Majahan is the CEO of Proof of Play, and Twitch co-founder Emmett Shear is a board member. The funding was co-led by Chris Dixon at Andreessen Horowitz (a16z) and Neil Mehta at Greenoaks. Investors Naval Ravikant,…
South Korean entertainment and events firm Dreamus, a subsidiary of SK Planet, is now offering NFT ticketing services through SK Planet’s OK Cashbag loyalty rewards app, allowing fans to buy tickets to events like K-pop concerts and other shows as Avalanche NFTs. OK Cashbag rewards members with points for making qualifying purchases. OK Cashbag also offers games and quizzes on…
Marieke Flament, CEO of Near Foundation, the developer of the namesake community layer-one protocol, has resigned. According to the September 21 announcement, Chris Donovan, Near Foundation’s general counsel, will replace Flament as the new CEO following the resignation. Flament gave no specific reason for her departure. Speaking on her tenure, Flament said: “Two years ago, I had never heard of…
