In brief Immutable X is used by firms like GameStop, TikTok, and ESL for NFT collectibles and crypto-powered video games. Funds will support development, building upon success with blockchain games Gods Unchained and Guild of Guardians. Immutable, the firm behind the Immutable X layer-2 scaling solution for Ethereum, announced the launch of a $500 million fund to boost developer adoption…
The 2022 version of crypto winter has been unlike anything we’ve seen before. As I warned last month, the meltdown of the Terra ecosystem didn’t end with Luna Classic (LUNC) hitting zero. The biggest threat was contagion. As the dust began to settle, we finally got a glimpse of who was left holding the bag. Crypto lender Celsius and Singapore-based…
In brief Entrepreneur and investor Gary Vaynerchuk founded Web3 consultancy VaynerNFT to help companies navigate the industry. VaynerNFT President Avery Akkineni said that brands shouldn’t let the crypto market downturn scare them away from NFTs and Web3. It’s been a whirlwind year for the NFT space, and that’s especially true when it comes to brands trying to wrap their arms…
Two days ago, Bitcoin.com News reported on the crypto hedge fund Three Arrows Capital (3AC) after reports claimed that the company was allegedly struggling with financial hardship and possible insolvency. Now the crypto firm Finblox is feeling the effects of 3AC’s troubles, and a few digital currency companies have liquidated the hedge fund’s leveraged positions. Speculation Concerning Financial Hardships Tied…
This past week, the decentralized finance (DeFi) ecosystem faced the brunt of the bears fueled by liquidation rumors of Three Arrow Capital (3AC) and Celsius liquidations. MakerDAO decided to cut off Aave (AAVE) from its direct deposit module as a safeguard in light of the possibility that Celsius folds and crashes the price of staked Ether (stETH). Trading firm 8…
The total crypto market capitalization fell off a cliff between June 10 and June 13 as it broke below $1 trillion for the first time since January 2021. Bitcoin (BTC) fell by 28% within a week and Ether (ETH) faced an agonizing 34.5% correction. Total crypto market cap, USD billion. Source: TradingView Presently, the total crypto capitalization is at $890…
The co-founder and vice president of growth at NFTNYC shared insights into their community-first values and ethos. Source: https://cointelegraph.com/news/nftnyc-expecting-diverse-and-eclectic-audience-to-drive-utility-narrative-of-nfts
United States Senator Bill Hagerty has sent a letter, cosigned by four other Republican senators, to Securities and Exchange (SEC) Commission chair Gary Gensler urging the withdrawal of a staff accounting bulletin, referred to as SAB 121, issued by the agency March 31. According to the senators, the bulletin amounts to “regulation disguised as staff guidance” and does not adhere…
Many in the crypto world have been glued to their screens with eyes dead set on financial conditions this week. That isn’t the case for everyone though, as thousands are suddenly experiencing woes of sudden unemployment. Words of encouragement and sympathy also poured out across Twitter and LinkedIn consoling individuals released from their responsibilities. Some expressed frustration, confusion, and anger…
With concerns about financial stability in mind, the European Central Bank (ECB) plans to limit digital euro holdings, according to Board Member Fabio Panetta. The plan is to have a maximum amount of digital cash in circulation similar to that of euro banknotes today, the official unveiled. Eurozone’s Central Bank to Keep Total Digital Euro Holdings Below 1.5 Trillion A…
