In brief Gemini is a cryptocurrency exchange and platform. It’s taking in outside funding for the first time. The Bitcoin billionaire brothers who made a fortune off of Facebook have decided to finally raise outside capital. Gemini, the cryptocurrency platform and exchange founded by twins Cameron and Tyler Winklevoss, has announced $400 million in funding in a round led by…
Decentralized finance (DeFi) protocols have gained significant traction in the cryptocurrency sector, with a total value locked surpassing $271 billion, based on data from DefiLlama. One exceptionally popular category of DeFi services is that of decentralized borrowing and lending, where users can pledge their crypto as collateral and take out stablecoin loans (or vice versa) to pay for everyday expenses…
On November 17, a report disclosed that the leading non-fungible token (NFT) marketplace, Opensea, is “fielding new investment offers” according to two unknown sources familiar with the matter. The investment could propel Opensea’s valuation by six times to a $10 billion market valuation, according to the sources. Report Claims Opensea Offered a $10 Billion Valuation During the first week of…
Ether’s (ETH) 330% year-to-date gain has been largely fueled by the growth of decentralized finance and the explosion of non-fungible tokens. Proof of this comes from OpenSea, the largest NFT marketplace, surpassing the impressive mark of $10 billion in accumulated trading volume. However, traders worry that the 15% correction that followed the $4,870 all-time high on Nov. 10 could indicate…
Bitcoin evangelist Max Keiser got up on stage today at the Labitconf Bitcoin Conference in El Salvador to chat about the role central bank digital currencies (CBDCs) might play in the monetary future of our society and the associated implications for Bitcoin. The panel, moderated by Bitcoin Magazine’s journalist Aaron van Wirdum, was live-streamed for those who couldn’t attend the…
On Thursday morning, Acala, a decentralized finance (DeFi) protocol operating on the Polkadot (DOT) network, announced it had won the first-ever Polkadot parachain auction. Acala raised a total of 32.5 million DOT, worth roughly $1.28 billion, from 24,934 contributors via an initial coin offering (ICO) structured as a crowdloan. As the proceeds are classified as ‘crypto debt,’ Acala would eventually need to…
Many people don’t like using the D-word. But most would agree it’s better than bandying about the C-word. We’re talking, of course, about dips and crashes. Bitcoin has dipped another 4% over the last 24 hours. As the largest cryptocurrency, its downward movement has helped take down the market with it, as the global crypto market cap has declined 5%.…
Representatives Patrick McHenry (NC-10) and Tim Ryan (OH-13) have today introduced the Keep Innovation in America Act, a bipartisan bill seeking to fix the “digital asset” reporting requirements in the infrastructure bill turned into law this week. “We have to figure out how to balance consumer protections and reasonable oversight while simultaneously providing these technologies and companies with the necessary…
Join Cointelegraph host and analyst Benton Yaun alongside resident market experts Jordan Finneseth and Marcel Pechman as they break down the latest news in the markets. Here’s what to expect in this week’s markets news breakdown: After the markets news update, special guest Michael Kong, CEO and chief information officer of Fantom Foundation, discusses the inner workings of the Fantom platform,…
As outlined in a prepared statement obtained by Cointelegraph, Game7 is an upcoming $500 million blockchain ecosystem acceleration decentralized autonomous organization, or DAO, with the goal of onboarding gamers worldwide to the blockchain ecosystem. Entities backing the proposal include BitDAO, Forte, Alameda Research, Mirana Ventures, Warner Music Group, Aleo, Avalanche, Interchain Foundation, Offchain Labs, OP Games, Polygon Studios, and Solana…
