Tokens.com Corp. (NEO Exchange Canada: COIN)(Frankfurt Stock Exchange: 76M) (OTCQB US: SMURF) (“Tokens.com” or the “Company”), a publicly-traded company that invests in web3 assets and builds businesses linked to crypto staking, the metaverse and play-to-earn gaming. The UPS Store launched its first step into the metaverse by building a content destination to help promote its new campaign ‘Be Unstoppable.’ This installation was developed in the Decentraland metaverse platform by Coffee Digital and Metaverse Group. It includes a multi-level building, where small business owners and the next generation of entrepreneurs are able to visit and learn how to build a successful and sustainable business.
Broker-dealer and digital assets trading platform INX is making a play for bankrupt crypto lender Voyager Digital’s assets. INX joins other industry players such as CrossTower, Wave Financial and Binance.US in the bidding process. Voyager filed for Chapter 11 bankruptcy protection in July due to its over $650 million exposure to the collapsed crypto hedge fund Three Arrows Capital (3AC). Crypto exchange FTX.US initially won the bidding process for Voyager’s assets in September. The auction process for Voyager’s assets reopened after the FTX Group filed for Chapter 11 bankruptcy protection.
Senate Finance Committee Chair Ron Wyden, D-Ore., wants information on how large crypto exchanges conduct business, including whether they use customer funds for undisclosed purposes, following the collapse of FTX.
After a series of legislative twists and turns spanning seven years, Brazil’s long-awaited crypto bill could finally reach the president’s desk. Brazil’s Chamber of Deputies voted on Tuesday to pass on a crypto regulation bill to Brazil’s president, Jair Bolsonaro, whose term ends on Dec. 31.
OpenSea took to Twitter to share that by listing non-fungible tokens built on the BNB Chain it would be able to handle trades for collections created by players like Goodfellas NFT and Pixelsweeper. Last month, OpenSea announced users could list and sell Avalanche-based NFTs.
The Seoul Southern District Prosecutors Office said Wednesday that it is seeking the arrest warrant over Shin allegedly taking illegal profits from Terra, the blockchain ecosystem overseen by Terraform Labs.
The same authorities reportedly raided the offices of Chai Corporation, a payments technology company founded by Shin, earlier this month. Authorities in South Korea have previously issued a warrant for the arrest of Shin’s co-founder at Terraform Labs, its CEO Do Kwon, as well as asking Interpol to issue a red notice for Kwon’s arrest. That came despite Kwon’s claims that he is not on the run.https://www.theblock.co/post/190856/prosecutors-seek-arrest-warrant-for-terraform-labs-co-founder-daniel-shin-yonhap
Crypto lender Nexo has gained a registration as a “virtual currency operator” in Italy, the company said in an announcement today. This allows the European-based firm to legally provide its services to Italian citizens. The license is issued by Organismo Agenti e Mediatori. The European Union is set to pass a set of laws on crypto assets that will allow firms to passport their license across the 27-nation bloc. Nexo plans to take advantage of this under the Markets in Crypto Assets regulation, according to the statement. The new rules are anticipated to come into force in 2024. Nexo’s website shows registrations in several U.S. states and six other countries.
Six exchanges — including Binance, Coinbase, Luno and Kraken — will have to share user data to help trace $10.7 million in funds stolen from an unnamed UK-based exchange in 2020. Two of the six exchanges involved were not named.
The anonymous exchange — which has not shared its name to avoid “tipping off” the hackers.The amount in question was deposited into 26 accounts on the exchanges in cryptocurrencies including bitcoin, XRP, ether and tether. It’s one of the first applications of a new law in the UK to help track assets in cyber-fraud cases, even if the companies holding the information are based overseas, according to FT. https://www.theblock.co/post/190967/binance-coinbase-kraken-ordered-to-disclose-user-data-in-hack-probe-ft
EU policymakers laid pressure on enforcing bloc-wide crypto regulations in the European Parliament’s economic committee today following the spectacular collapse of FTX. is a sufficient band aid for the implications of the debacle.
“The collapse calls for urgent need of the MiCA regulation,” said Alexandra Jour-Schroeder, the European Commission’s financial unit deputy. FTX saw a dramatic demise after the collapse of its native token, FTT, a crash that affected millions of users and numerous firms. The exchange, which was valued at $32 billion at the start of the year, filed for bankruptcy protection on Nov. 11.https://www.theblock.co/post/190659/policymakers-crank-the-heat-on-new-eu-crypto-laws-in-ftx-hearing
Web3 gaming and software giant Animoca Brands is set to debut a fund of up to $2 billion to invest in metaverse companies. The fund, named Animoca Capital, is expected to make its first investment next year, co-founder and executive chairman Yat Siu said in an interview with Nikkei.
Animoca Brands is one of the most active investors in web3. It made over 60 investments in the first half of 2022, bringing its total to more than 340 as of September this year, according to The Block Research. The primary purpose of the fund will be to develop the ecosystem and create more opportunities for investors to access web3 companies, Siu said. It opened up two membership tiers to other web3 builders earlier this month. https://www.theblock.co/post/190902/animoca-plots-2-billion-metaverse-investment-fund
U.S. Treasury Secretary Janet Yellen says that the collapse of crypto exchange FTX shows that the crypto industry “really needs to have adequate regulation.” She added: “It’s a Lehman moment within crypto, and crypto is big enough that we’ve had substantial harm with investors.”
Treasury Secretary Janet Yellen on FTX Implosion and the Need for Adequate Crypto Regulation
U.S. Treasury Secretary Janet Yellen talked about the need for adequate crypto regulation following the collapse of crypto exchange FTX at an event hosted by the New York Times Dealbook Wednesday. She said:https://dorkye.com/us-treasurys-yellen-says-crypto-doesnt-have-adequate-regulation-calls-ftx-collapse-a-lehman-moment/?ch=cryto
Equities, precious metals, and cryptocurrencies shined on Wednesday following Federal Reserve chairman Jerome Powell’s speech at the Brookings Institution in Washington. The crypto economy increased 3.11% to $860 billion, while the top four stock indexes jumped between 2% to 5% higher on Nov. 30.
Stocks, Crypto, and Precious Metal Markets Jump Higher Against the Greenback Following Powell’s Speech at Brookings Institution
On the last day of November, the U.S. central bank’s chief Jerome Powell offered a “progress report on the Federal Open Market Committee’s (FOMC) efforts.” The Fed chair’s speech at the Brookings Institution in Washington hinted at the possibility of smaller rate hikes starting in December.https://dorkye.com/markets-spike-after-fed-chair-says-it-makes-sense-to-moderate-the-pace-of-rate-hikes-hints-easing-could-happen-in-december/?ch=cryto
Today we talked to PULI Game Studio, an up-and-coming P2E cryptocurrency game development company.
We heard a lot about their story and also their first game: PULI Runner, that can be found on both the Apple and Android stores. If you have not joined BlockStar join here: https://blockstar.site/?refer=WHpINDN… All future AMAs and/or podcasts will be held in the BlockStar group on BlockStar.site: https://blockstar.site/page/view-grou…
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Binance has managed to expand its services throughout the past year by either acquiring an operating license or buying a stake in a regulated entity.
Cryptocurrency exchange Binance plans to reenter the Japanese market after acquiring a 100% stake in a licensed crypto service provider in the country, Cointelegraph Japan reported.
In an official public announcement on Nov. 30, Binance CEO Changpeng Zhao said the crypto exchange was committed to re-entering the Japanese market under regulatory compliance. The acquisition of Sakura Exchange BitCoin (SEBC), a Japan Financial Services Agency-licensed business, would mark the re-entry of global exchange in the Japanese market after four years.
Serious art collectors known to frequent the opening day of the Art Basel Miami Beach fair had the ability to take something home completely for free on Tuesday — a “generative” NFT minted on the Tezos blockchain. Only 2,500 of the NFTs will be minted during the week. The Tezos exhibit at the exclusive fair featured an interactive, live-minting experience that lets visitors scan a QR code to start production of an algorithmic NFT designed by either Tyler Boswell, DistCollective or Ivona Tau. The whole process takes about two minutes, and the work is quickly delivered to the visitor’s wallet and then displayed on a large screen with information.
Digital collectibles firm Candy Digital, financially backed by industry heavyweights Mike Novogratz and Gary Vaynerchuk, has cut a large number of jobs — perhaps as much as half of its employees. One laid off employee, who preferred to remain anonymous, told The Block that as many as half of Candy Digital employees may have been let go. The employee added their dismissal didn’t come as a surprise given the current downturn engulfing companies operating in crypto-related fields.
Last week, the world’s largest crypto exchange Binance formally unveiled a $1 billion “industry recovery fund” to help contain the damage dealt to the industry by the spectacular implosion of FTX. Binance’s CEO Changpeng Zhao had played a pivotal role.
Daylight, a software solution for aggregating web3 perks, raised $3 million in a seed round co-led by Framework Ventures and Chapter One. Investors in the round include Framework Ventures, Chapter One, 6th Man Ventures and OpenSea. Other backers in the round include 6th Man Ventures, Spice Capital and OpenSea, as well as several angel investors such as Syndicate’s Will Papper and Friends With Benefits’ Alex Zhang, according to an announcement. Founded in April this year, Daylight provides an API that aggregates all web3 perks that users can qualify for based on their wallet address. The API can be integrated into crypto applications and wallets.https://www.theblock.co/post/189974/framework-ventures-and-chapter-one-back-web3-software-solution-daylight-exclusive
Crypto data firm Kaiko announced the launch of a product tracking market data for DeFi lending and borrowing protocols on Ethereum. optimize trading strategies, analyze yield and track wallet movements, among other things.
Although it has been in development for a while, the product has “come into focus more after recent events in the market,” Philippe Redaelli, managing director for on-chain market data, told The Block. Redaelli said the collapse of FTX has led to an increase in the use of DeFi protocols, which are needed now more than ever due to the transparency and financial opportunities they offer.
Crypto taxation is climbing up on the European Union’s agenda as speakers in a Brussels tax symposium highlighted the need to crack down on tax avoidance in crypto.
Dombrovskis pointed to the upcoming proposal from the European Commission’s new iteration of EU taxation guidelines “so that EU rules stay in line with evolving economies and include areas such as crypto assets.”.European Commissioner for trade. “We have already started to address these challenges.” .https://www.theblock.co/post/190270/crypto-taxation-talks-gain-traction-in-the-eu
Fear of ‘angry people’ drove Bankman-Fried to open withdrawals for Bahamians
The former FTX CEO has explained why the exchange only reopened withdrawals for Bahamian citizens shortly before filing for bankruptcy.
FTX’s former CEO Sam Bankman-Fried has divulged what really went on in the days before it filed for bankruptcy when the exchange selectively reopened withdrawals — only for Bahamian users.
In a telephone interview with crypto blogger Tiffany Fong, dated Nov. 16, Bankman-Fried claims to have made the decision to reopen withdrawals to Bahamian citizens, as he did not want himself nor the exchange to be in a country “with a lot of angry people in it.”
“The reason I did it was it was critical to the exchange being able to have a future because that’s where I am right now, and you do not want to be in a country with a lot of angry people in it and you do not want your company to be incorporated in a country with a lot of angry people in it,” he said.
Bankman-Fried claims he gave Bahamian securities regulators a “one-day heads up”https://cointelegraph.com/news/sbf-reveals-what-was-behind-ftx-s-reopening-of-bahamian-withdrawals
Popular American grantmaker Fidelity Charitable has announced a brand new NFT project. The project is not a token drop, as we have typically seen with other brands, but rather a raffle.
The raffle will see lucky participants claim several NFTs, and 50 more will win $1,000 each! The winners can then donate the funds to several charitable entities.
As Fidelity Charitable explains, the crypto contributions received to its donor-advised funds have grown massively over the years. The total amount was $28 million in 2020 and has since risen to a staggering $331 million in 2021. Given this shift in donation demographics, the management of Fidelity Charity felt that it was best to meet the public where they are and engage with them.
“I think it’ll be a unique way to engage with next gen investors. It’s another way that I think Fidelity is innovating and leaning into a new space.” – Jacob Pruitt, president of Fidelity Charitable.
The NFTs have been created on the Polygon blockchain, and those who win have to make a digital asset wallet to claim them. The NFTs will be available on OpenSea.
Following our plan perfectly. Currently, trading around $16.8k level. We have two important resistance ahead one is at $17k and another one is at $17.7k level. First, BTC needs to break and hold above $17k level for more upside continuation.
Nearby support for BTC is at $16.5k level. If BTC rejected from here then it must hold the $16.5k level for another bullish movement.
Let’s see how this goes. Stay tuned and pin to top our channel for more updates.
Ethereum (ETH) recently became the most deflationary it had historically ever been amid the FTX collapse, reaching a deflationary percentage of -0.00514%, but as of Nov 29, ETH has lost almost all deflationary gains.
ETH now sits at a deflationary percentage of -0.00090%. This loss of deflationary gain equates to over an 80% retracement back toward inflationary ETH percentages. Despite the fall in deflationary gains and the current ATL burn volume, ETH addresses with a balance equal to or greater than 32 ETH are however at an all-time high (ATH). https://cryptoslate.com/eth-deflationary-gains-erased-post-ftx-collapse/
SK Telecom (SKT) highlighted a metaverse cooperation with Singtel Group aimed at jointly expanding the business across the Asia-Pacific region in countries where the group operates, starting with Singapore. SKT outlined an ambitious metaverse plan. Singtel CEO for Consumer Anna Yip stated: “Together with SKT, we will help drive innovation and unlock new digital use cases in Ifland, creating growth opportunities for enterprises and enriching experiences for consumers.”.SKT noted Singtel will share its 5G expertise, while the Korean operator will provide insights gained from running Ifland in its home market.
MetaExpo Singapore, the Web3 and Metaverse Education, Danielius Stasiulis, CEO of Learnoverse and BitDegree, inaugurated the Metaverse Education Alliance (MEA), a global initiative aimed at promoting cooperation among leading Web3 and Metaverse EdTech operators and related stakeholders. The Forum included panels and addresses by prominent Web3 and Metaverse ecosystem developers, investors and educators. Danielius Stasiulis shared a panel discussion with Taizo Son, CEO of Mistletoe Inc., one of the most prolific investors in Asia. Their talk focused on repositioning the Asian market as the next global hotspot for Web3 and Metaverse education.
Huobi has said that it will be launching the world’s first national token called Dominica Coin (DMC) — endorsed by the Commonwealth of Dominica. As the world’s first national token, DMC will be issued on the Tron blockchain (TRC20) initially. Furthermore, Huobi state that the DMC token will allow holders the opportunity to obtain passports issued by the Government of Dominica, enabling holders access to over 130 countries without a visa. The DMC token “is granted a statutory status as an authorized crypto in the Commonwealth of Dominica and can be circulated locally in Dominica as a means of payment.”
Bitcoin (BTC) bulls were hopeful that the Nov. 21 dip to $15,500 would mark the cycle bottom, but BTC has not been able to produce a daily close above $17,600 for the past eighteen days.
Traders are clearly uncomfortable with the current price action and the confirmation of BlockFi’s demise on Nov. 28 was not helpful for any potential Bitcoin price recovery. The cryptocurrency lending platform filed for Chapter 11 bankruptcy in the United States a couple of weeks after the firm halted withdrawals.
In a statement sent to Cointelegraph, Ripple’s APAC policy lead Rahul Advani said he expects the FTX exchange bankruptcy to lead to greater scrutiny on crypto regulations.” Following the event, several global regulators pledged to focus on developing greater crypto regulation.
Unfortunately, there is no way to know when investors’ sentiment will improve and trigger a new bull run. Despite this, for traders who believe BTC will reach $20,000 by Dec. 30, there is a low-risk options strategy that could yield a decent return with limited risk.https://cointelegraph.com/news/this-simple-bitcoin-options-strategy-allows-traders-to-go-long-with-limited-downside-risk
Sony has launched a set of wearable motion trackers that will bring users into the metaverse with their smartphones. The Mocopi system comprises six pucks worn around the user’s wrist, ankles, hands and hips. The Mocopi system allows users to capture full-body motion capture without needing expensive equipment. YouTubers and people working in content development are the key target audiences for the Mocopi motion trackers. With the Mocopi system, Sony is essentially expanding the market for metaverse which is in its early stages.https://indianexpress.com/article/technology/tech-news-technology/sony-brings-metaverse-to-smartphones-with-wearable-motion-trackers-8295767/
Binance has moved 127,351 bitcoin ($2 billion) to verify to an auditor it has control over the claimed address. The transfer of such a large amount of bitcoin today from Binance to an unknown wallet led to questions among the crypto community.
The pressure on centralized crypto exchanges to adopt “proof of reserves” has increased dramatically after the collapse of crypto exchange FTX. By publishing both the total amount of assets and liabilities, exchanges can indicate that they have the reserves on hand to meet customer withdrawal requests. However, these initial reserves don’t necessarily show the full picture, as they don’t provide details on the exchange’s liabilities.https://www.theblock.co/post/190240/binance-moves-2-billion-of-bitcoin-as-part-of-reserves-audit
ConsenSys and the venture arm of crypto exchange Kraken have backed institutional staking platform Kiln in a €17 million ($17.6 million) round. Illuminate Financial led the equity round, which closed in October and featured participation from GSR, LeadBlock Partners, Sparkle Ventures, Alven and Blue Yard Capital.
Kiln is part of a group of service providers that has garnered investor interest by enabling institutions to tap into staking, a process of locking up crypto for rewards in return for securing the blockchain. Competitor Figment raised $50 million last year and Staked was the subject of a buyout from Kraken. Kiln says it differs from the competition by offering aggregation tooling. https://www.theblock.co/post/190196/kraken-and-consensys-back-staking-platform-kiln-in-17-million-round
Web3, or Web 3.0, is an idea for a new iteration of the World Wide Web. Its advocates insist it is seeking to use technology to incorporate concepts such as decentralisation, transparency and fairness into a modern transaction economy. Whether that is at all feasible remains a wider question – but in the case of Web3 at least, the results so far seem to suggest not. More than a decade of decentralisation via eternally-nascent cryptocurrency technology has yielded speculative bubble after speculative bubble, each time somehow underwritten by even fewer fundamentals than the last time. The transparency of blockchain technologies have done little to prevent various Web3 ‘entrepreneurs’ withdrawing investors’ funds.
The Salvador government reported the creation of a bitcoin office (ONBTC), which will function as a “specialized administrative unit with a functional and technical autonomy consisting of the presidium of the republic.”
The goal of the ONBTC will be the development, diagnosis, planning, programming, coordination, control, measurement, analysis and evaluation of plans, programs and projects related to BTC for the country’s economic development.
Ryan Pinder, Attorney-General and Minister of Legal Affairs for The Bahamas, held a late Sunday press conference to defend the “integrity of our jurisdiction,” asserting that—despite his country’s reputation as a “crypto paradise” and haven for cryptocurrency schemes.
The 20 minute address, broadcast live online, mentioned the failed cryptocurrency exchange FTX more than 40 times, but named its disgraced founder, Sam Bankman-Fried, only once. Pinder acknowledged “the enormous interest” in the FTX case, but warned that “the basic facts have been obscured by guessing games and rumors.”https://decrypt.co/115682/bahamas-attorney-general-ryan-pinder-ftx-deltec-bank
Texas wants to be the centerpiece of Bitcoin innovation, says Governor Abbott
Texas Governor Greg Abbott sees value in what Bitcoin means to the entire world, adding that his state “wants to be the centerpiece of that.”. Texas Blockchain Council, Abbott encouraged Bitcoin entities to set up shop in Texas.
According to a recent SmartAsset study on crypto-friendly U.S. states, Texas ranked joint fourth with New Jersey, behind Nevada in first place, then Florida, followed by California. In compiling the rankings, the study examined factors including crypto job availability and the friendliness of local state legislation. Texas announced it would divest state funds from several providers.
According to the analysts at Glassnode, this cohort now holds over 1.21 million BTC, which is equivalent to 6.3% of the world’s flagship cryptocurrency’s circulating supply. have added 96,200 BTC to their collective stashes since FTX exchange’s.
Another category of smaller Bitcoin holders that took an opportunity to buy this month’s dip is “crabs,” a demographic holding between 1 BTC and 10 BTC. For both shrimps and crabs, November purchases also marked all-time-high increases in balances, with the latter eclipsing the July 2022 peak of 126,000 BTC. https://decrypt.co/115724/shrimp-crab-bitcoin-balances-hit-record-highs-amid-ftx-collapse
The intersection of gaming and finance in an environment driven by use of blockchain, non-fungible tokens (NFTs) and smart contracts is often called as GameFi. It is often cited at the crossroads of decentralized finance (DeFi) and play-to-earn (P2E) blockchain gaming. Metaverse Awareness Survey, 40% of respondents stated that they are “interested in pursuing a mix of both the ‘playing’ and ‘earning’ aspects of the metaverse”. While 11% indicated they are more interested in earning, and 49% stated they are only interested in playing. Another interesting finding of the survey was that more than half (53%) of respondents stated.
Louis Rosenberg founded VR start-up Immersion Corporation in the early nineties. Years of research in VR labs at Stanford University, the U.S. space agency NASA, and the U.S. Air Force convinced Rosenberg that virtual reality and augmented reality.
VR enthusiasm peaked and the industry fell into what Rosenberg calls “the VR winter.” From 1997 to 2012, he says, venture capitalists didn’t take you seriously if you even mentioned the term virtual reality. Many of the early VR companies disappeared, even though they had pioneered many key virtual world technologies. https://mixed-news.com/en/an-early-vr-pioneer-now-believes-in-the-ar-metaverse/
The revenue earned by Bitcoin (BTC) miners fell to two-year lows owing to poor market performance and a heavier computational demand amid rising network difficulty. However, an ongoing downturn in the Bitcoin hash rate over the past month. The total Bitcoin mining revenue — block rewards and transaction fees — in U.S. dollars fell down to $11.67 million, a number last seen on Nov. 2, 2020, when Bitcoin’s trading price was around $13,500. Adding to the above, the difficulty of mining a Bitcoin block has skyrocketed to an all-time high of almost 37 trillion — forcing Bitcoin miners to spend more energy and computational power to stay competitive.
Lamina1, the Layer 1 blockchain optimized for the open Metaverse, officially opened online ticketing/registration for the Open Metaverse Conference (the OMC) – a first-of-its-kind event bringing together leaders, creators, and innovators in the Metaverse. Curated to connect thought leaders that must collaborate in order to develop a truly diverse, decentralized, and open-source Internet, the OMC will bring people together from sectors spanning gaming, crypto, Web3, art, entertainment, enterprise, and commerce to debate and discuss the foundation of the next era of the Internet. At the same time, attendees will get hands-on with the Metaverse.https://www.businesswire.com/news/home/20221128005612/en/The-Open-Metaverse-Conference-Opens-Ticket-Registration-Announces-Additional-Headliners-and-Reveals-Event-Location-in-Downtown-Los-Angeles
Nothing shines a light on the importance of energy as much as a fast-approaching winter. When the temperature drops, the scarcity of energy becomes obvious and global efforts to preserve it begin. This year, the fight for energy is more aggressive than it’s ever been.
The fiscal and monetary policies set in place during the COVID-19 pandemic caused dangerous inflation in almost every country in the world. The quantitative easing that set out to curb the consequences of the pandemic resulted in a historically unprecedented increase in the M2 money supply. This decision diluted the purchasing power and led to an increase in energy prices, sparking a crisis that is set to culminate this winter. https://cryptoslate.com/energy-is-the-master-resource-but-it-could-be-bitcoin-that-reigns-supreme/
The Russian President criticized Western’s sanctions and urged for a system “independent of external interference”. Russian President Vladimir Putin criticized monopoly in global financial payment systems and called for an independent and blockchain-based settlement network on Nov 24. Putin also noted that global payments and nations are at risk due to tense relations between Russia and the West following Ukraine’s invasion, labeling sanctions imposed by countries as “illegitimate restrictions”. Another recent development, a bill was introduced into the Russian State Duma, the lower house of parliament, on Nov. 17 legalizing cryptocurrency mining and the sale of the cryptocurrency mined , laying down a legal framework for a national exchange.
Content-based information categorization is important. There is a type of tool that helps us in this field which is called web directory, we will explain this topic more detailed. join free below check it our
Web-Directory is a website that has a list of links to other websites, all of which are related to a common topic and provide an organized way to find websites. (newline) In fact, unlike search engines, which provide users with a list of websites related to the user’s keywords, web directories only categorize the list of websites depending on the type of content and activity. Users log in to this section to search the websites which have worked in their field of interest. (newline) The difference between a web-directory and a search engine: (newline) In a web-directory, websites are categorized by topic, while in a search engine, the website categorization is based on keywords. (newline) Plus, in the directory, related topics and existing links are collected and listed by humans, while in the search engine, all available links are automatically collected and ranked by robots. (newline) As a result of the point mentioned above about the difference between a search engine and a directory, it can be concluded that a web-directory which is created by humans gives more relevant results to the searched topic, and due to the fact that it is done by robots in search engines, results are irrelevant to the topic being searched and are only based on keywords. https://tiredofgettingrugpulled.com/web3-directory-free-registration-join-today/ join free today only new
According to Powell, a complete proof-of-reserve audit must include the sum of client liabilities, user-verifiable cryptographic proof that each account was included in the sum and signatures proving the custodian’s control over the wallets.
The collapse of the crypto exchange FTX revealed the importance of proof of reserves in avoiding situations involving the misappropriation of users’ funds. While exchanges have proactively started sharing wallet addresses to prove the existence of users’ funds, several entrepreneurs, including Kraken CEO and co-founder Jesse Powell, called the practice “pointless” as exchanges fail to include liabilities. https://cointelegraph.com/news/binance-proof-of-reserves-is-pointless-without-liabilities-kraken-ceo
News of the upcoming series was broken by Variety, who had previously reported on Hollywood’s interest in the crypto fiasco. Although this little witticism is often overused, the FTX saga is one of the few times the use of the phrase would be completely accurate.
According to Jennifer Salke – the head of Amazon Studios – the FTX docuseries will be created with the help of well-known directors who have already worked with Amazon in the past. As reported by Variety, Amazon has contracted the Russo Brothers and David Weil to direct the film. David Weil will reportedly be in charge of writing the pilot and producing it.https://cryptopotato.com/amazon-reportedly-making-a-docuseries-on-ftxs-collapse/
Bored Ape Yacht Club (BAYC) has been the title winner of the NFT collection sales revenue chart. As of press time, BAYC has a 24-hour sales revenue of $1,699,826 with 21 transactions. BAYC recorded twenty transactions. The sales revenue of BAYC NFT collections saw a drop of 61.86%. Interestingly, Bored Ape Kennel Club (BAKC) overhauled BAYC in sales volume with more transactions than BAYC. BAKC recorded 233 transactions, an increase of 2018.18%, while BAYC had only twenty-one transactions. Meanwhile, Ethereum topped the chart for blockchains by NFT sales volume. Ethereum recorded a sales revenue of $9,501,213 and is down by 31.00% within the last 24 hours. Additionally, Ethereum recorded 25,569 transactions with 9,708 buyers.
Blockchain operator Tron DAO and Justin Sun, its billionaire founder, have applied to contribute capital to Binance’s industry recovery fund. The application comes after seven crypto industry heavyweights were unveiled as its initial contributors yesterday.
Ethereum core developers are moving toward putting EIP-4844 — a highly-anticipated scaling proposal — live in a future mainnet upgrade, according to an Ethereum core developer meeting.
Since leaving The Walt Disney Company, Bob Iger has been acting as an adviser and board member for the digital avatar platform Genies.
Metaverse-backer Bob Iger has announced a surprise return to his former role as CEO of Disney, taking over from now-former CEO Bob Chapek.
While Iger is most well known for serving 15 years as the CEO of the global entertainment conglomerate, the Disney executive became known in the crypto community after becoming a director, adviser and investor in Genies, a digital avatar platform running on Dapper Labs’ Flow blockchain.
“Thrilled to be joining the Genies Board of Directors to help Akash Nigam and company empower humans to create the ‘mobile apps of Web3’: avatar ecosystems,” Iger said at the time.
Iger was still at Disney as an executive and board chairman when the company filed for a metaverse-related patent on Dec. 28.
The patent was for a “virtual-world simulator in a real-world venue,” and according to the filing, would allow visitors to Disney theme parks to use mobile phones to generate and project personalized 3D effects onto nearby physical spaces, such as walls and other objects.
However, Disney said at the time there were “no current plans” to use the “virtual-world simulator” patent, and the company has yet to announce any products related to the patent.
According to the Hollywood Reporter, Iger’s return will reportedly only be temporary, though, with Iger only agreeing to serve as Disney’s CEO for the next two years.
During his new term as CEO, Iger will reportedly work with the board to set the strategic direction for the company and work to develop a successor.
In his absence, Disney has continued to work toward projects involving the metaverse, nonfungible tokens (NFTs) and blockchain throughout the year.
In September, Disney started hiring a principal counsel to work on transactions involving NFTs, the metaverse, blockchain and decentralized finance (DeFi).
Bitcoin (BTC) investment firm NYDIG’s report revealed that 35.1% of Bitcoin’s core developer team is residing in the U.S., and the core team grows by 5 to 20 people every month. NYDIG’s report examines the technical development of this open-source technology.
According to the report, there are 13,057 unique developers who contributed to the broader Bitcoin ecosystem, excluding the ones who work on closed-source solutions. Another 1,140 unique developers, on the other hand, have contributed to the Bitcoin Core. The average monthly number of active unique developers for Bitcoin Core varies between 40-60.https://cryptoslate.com/35-of-bitcoin-core-team-is-from-the-u-s-as-monthly-active-developers-falls-in-2022/
A federal judge granted a preliminary request to maintain the anonymity of creditors in the FTX bankruptcy case, but noted that more information on the company’s creditors could become public in the near future. A judge will keep the information of all creditors in the FTX case sealed, for now.
A representative for the U.S. Trustee, an office within the Justice Department responsible for overseeing bankruptcy cases, argued in favor of disclosing more information on businesses that FTX or its related entities owe money than is currently available. Making creditor information public is standard practice in U.S. bankruptcy proceedings, although Celsius creditors were upset after a similar disclosure in that proceeding.https://www.theblock.co/post/189247/ftx-creditor-information-to-remain-confidential-at-least-for-now
Entertainment and electronics giant Sony has recently completed the acquisition of Beyond Sports, a company specializing in using real-world data to produce 3D animation. With this purchase, the company is now reportedly. Sony is now making a foray into the sports metaverse world. The company recently closed the acquisition of Beyond Sports, a 3D imaging and animation company that possesses tech to transform real information from a sports match into a metaverse representation. Numbers for the acquisition were not released, but are believed to be as high as $70 million dollars.
The European Parliament passed a vote on the Digital Decade policy program, which will help businesses and public services digitalize their work and promises support for a “pan-European blockchain-based infrastructure.”.The plenary meeting vote passed by 529 to 22 on Thursday.
The U.S. made the list of regions blocked from using an upcoming website for ApeCoin staking with the related DAO claiming regulations are to blame.
$3.25 holders could miss out on staking rewards after the U.S. was added to a list of regions geo-blocked from using an upcoming APE staking service.
Blockchain infrastructure company Horizen Labs, which is building the site on behalf of the ApeCoin decentralized autonomous organization (DAO), revealed the news in a Nov. 24 update regarding ApeStake.io on Twitter, saying, “unfortunately, in today’s regulatory environment, we had no good alternative.”https://cointelegraph.com/news/apecoin-geo-blocks-us-stakers-two-apes-sell-for-1m-each-marketplace-launched
Several Chinese platforms are introducing metaverse tech in their coverage of Qatar’s 2022 soccer World Cup. The experiences, which will use virtual reality (VR) headsets and 5G as base tech, will allow the users to enjoy a metaverse-like view of the event. The FIFA World Cup 2022 in Qatar, one of the biggest sports events in the world, provides a chance for many companies to test their implementations of metaverse tech. In China, where soccer is very popular, several platforms are introducing metaverse technology to enrich the broadcasts of the different matches of the event.https://news.bitcoin.com/chinese-platforms-to-test-metaverse-tech-during-qatar-world-cup-2022-broadcasts/
It is worth noting that funds have not moved from the now-defunct Mt.Gox exchange’s cold wallets since 2018. A crypto wallet attributed to the failed BTC-e linked to the 2014 Mt. Gox hack moved 10,000 Bitcoin, now worth over $165 million, to a group of personal wallets, exchanges, and other services on November 23rd.
The Binance CEO also said the industry allowed FTX to get too big before it started questioning its actions. As FTX will not be able to follow through on its commitment to purchase Voyager and its assets, Binance US will return to the table, said Changpeng Zhao.
The cryptocurrency winter that started earlier this year and was significantly intensified by Terra’s collapse resulted in a lot of trouble for multiple industry companies, some of which, including Voyager, had to file for bankruptcy. The two favorites to win the bid were the two US affiliates of FTX and Binance, and the former’s American branch won it.
Ripple intends to buy FTX’s assets According to a recent report by The Times, Ripple, a San Francisco-based fintech company, is interested in purchasing the assets of failed cryptocurrency exchange FTX. Ripple CEO Brad Garlinghouse said that he would buy the parts of FTX that served business customers, as well as its stakes in other companies. Thus, he would be able to strategically scale the company, which aspires to continue growing even during the current bear market. As previously reported by U.Today, on Nov. 11, FTX filed for Chapter 11 bankruptcy after failing to secure a bailout from a slew of investors.
Users’s IP address and Ethereum address will be collected when they send a transaction.
The update applies to users who use Infura as their Remote Procedure Call (RPC) provider in MetaMask. Infura is an affiliate of ConsenSys and is set as the default RPC provider in all MetaMask wallets.
Deloitte estimates the metaverse could add $1.4 trillion to Asia’s GDP annually by 2035. Noting that the metaverse market could be as large as $13 trillion by 2030, the global financial services firm said: “The metaverse is no longer science fiction. Early metaverse platforms are already being used by millions.”. Deloitte, titled “The Metaverse in Asia: Strategies for Accelerating Economic Impact,” estimates that the metaverse is a trillion-dollar opportunity in Asia. The study takes an in-depth look at 12 selected Asian economies: Hong Kong, India, Indonesia, Japan, mainland China, Pakistan, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam.
Chinese metaverse services provider Global Mofy Metaverse (GMM) has filed to raise a proposed $30M through a US initial public offering. The company hopes to list its shares on Nasdaq under the symbol GMM. Maxim Group is serving as lead bookrunner. Global Mofy said in a filing that it’s looking to offer 6M ordinary shares priced $4.50 to $5.50, which would raise around $30M if priced at the midpoint. Underwriters would be granted a 45-day option to buy up to 15% additional shares to cover any over-allotments. Global Mofy has been profitable. For the six-month period ended March 31.
A prolific NFT collector who goes by the pseudonym “Vincent Van Dough (VVD)” has launched a new NFT gallery called Art of This Millennium. VVD’s new project comes shortly after they had to bid adieu to their NFT fund Starry Night Capital, which had been launched last year. VVD was once friends with Zhu and Davies, having known them outside of crypto for over ten years. When asked if they are still in touch with the 3AC founders, VVD said they last had contact with them before 3AC’s collapse was reported in June. VVD added that Zhu and Davies are “not at all” involved with AOTM. Starry Night Capital had aimed to raise $100 million and collected hundreds of NFTs.
Growfitter has partnered with NEAR India to expand its operations globally, as reported by the company in an official release. The company further informed that Growfitter’s integration into the NEAR blockchain is a step forward to expanding its presence in Vietnam, the Philippines, Dubai, and Singapore. “Growfitter has launched an ecosystem that will enable brands to engage with customers in a loyalty program using Growfitter’s utility token (GFIT) and its supporting Smart Contract. Our goal is to revolutionize the consumer engagement and loyalty model. Growfitter token holders will be able to redeem tokens for products from 100+ sponsored brand partners,” Sanmati Pande, CEO of Growfitter, said.https://www.financialexpress.com/blockchain/near-india-backs-wellness-platform-growfitter-for-web3-0-expansion/2888403/
Beleaguered crypto exchange FTX’s connection with Tether remains in question as the banks used by both companies are run by the same person. FTX’s Alameda Research invested $11.5 million in Farmington State Bank’s parent FBH, run by Jean Chalopin. Surprisingly, Chalopin is also the chairman of Bahamas-based Deltec Bank, the main bank of Tether.
FTX and Alameda’s Tether Connection
The bankruptcy of FTX uncovers surprising investments by SBF and raises questions about its operations, reported the New York Times on November 23. In March, FTX through its trading firm Alameda Research invested $11.5 million in a small Farmington State Bank’s parent FBH based in Washington. The bank has a single branch and three employees, with no online banking or credit card facilities. https://dorkye.com/ftx-tether-connection-involvement-of-banks-raises-questions/?ch=cryto
Audio File – Crypto is breaking the Google-Amazon-Apple monopoly on user data
Blockchain is undermining Big Tech companies and cloud providers, particularly when it comes to the Internet of Things.
For decades, banks and insurance firms employed the same mostly static but highly profitable and centralized business models. Also for decades, Big Tech firms such as Facebook, Microsoft, Amazon, Apple and Google have monopolized user data for their profit. However, blockchain projects could significantly challenge Big Tech’s grip on user data.
In 2015, the future of money was at the forefront of financial experts’ minds at the World Economic Forum in Davos. There, they started to seriously focus on the challenges presented by the rise of Bitcoin
$16,537, digital assets and fintech. The world of finance began to realize that new technologies were upending everything in the sector, from savings to trading to making payments and cross-border and peer-to-peer transactions.https://cointelegraph.com/news/crypto-is-breaking-the-google-amazon-apple-monopoly-on-user-data
The ongoing crypto bear market has proven itself to be a builders market as investments continue to find projects with promise.
Onomy, a Cosmos blockchain-based ecosystem, just secured millions from investors for the development of its new protocol. The project merges decentralized finance (DeFi) and the foreign exchange market to bring the latter on-chain.
According to the developers, the latest funding round garnered $10 million from big industry players such as Bitfinex, Ava Labs, the Maker Foundation and CMS Holdings among others.
Lalo Bazzi, co-founder of Onomy, said the underlying goal of building a decentralized autonomous organization with a public infrastructure should serve the “core tenant of crypto — self-custody — without sacrificing on the user experience.”
Both DeFi and self-custody have been hot topics in the crypto community due to the FTX liquidity-bankruptcy scandal. Some experts have said that one of the major lessons to take away from the situation is the value of DeFi platforms compared to centralized gatekeepers.
Forecasts for the near future of the industry have shown a mixture of another tough year while still holding investors’ interest.
According to a Coinbase-sponsored survey that was conducted between Sept. 21 and Oct. 27, institutional investors are still keen on the space. It revealed that 62% of surveyed institutional investors with crypto investments increased their positions in the past year.
On Nov. 9, just days into the FTX scandal, Cathie Wood of ARK Investment added an additional $12.1 million to the company’s existing shares in Coinbase. Additionally, banks continue to show interest in the industry, with JP Morgan using DeFi for cross-border transactions and BNY Mellon launching its own Digital Asset Custody Platform.
New York Governor Kathy Hochul has signed a bill cracking down on crypto mining in the state. The New York Senate already approved the bill in June, but Hochul had until now held off from signing it in the face of fierce industry lobbying, according to Bloomberg. New York Governor Kathy Hochul has signed a bill cracking down on crypto mining in the state. An earlier version of crypto mining bill, which called for a three-year moratorium on a broader scope of mining facilities, died in the Assembly in June of last year. Opponents of the current iteration of the moratorium, such as Republican Assemblyman Robert Smullen, had described it as “anti-tech.”
KPMG has appointed software engineer and tech entrepreneur Alyse Sue as its new head of metaverse future, with the goal of creating a multimillion-dollar business based on metaverse technology and cryptocurrency over the next two years. KPMG after working as a senior consultant on the KPMG Innovate team between 2012 and 2015 before focusing on her own startup projects. Sue co-founded Transhumanism Australia and cryptocurrency Transhuman Coin, which are both dedicated to funding research and development of technologies that enhance human biology, and Genomix, a data machine-learning startup.
“Metaverse” is among the leading three contenders for Oxford’s Word of the Year (WotY). The metaverse is an unsurprising inclusion for WotY—not everyone understands it, but most will have at least heard the term.Facebook changing its company name to Meta towards the end of 2021.
Over the last year, the word has been thrown around a little too easily. One school of thought is that it should resemble a web 3.0 of decentralised, interoperable experiences. Another belief is that a metaverse should integrate elements of the real world. Some believe it requires a combination of both.https://www.iottechnews.com/news/2022/nov/23/metaverse-contender-oxford-word-of-the-year/
Magic Eden has improved its capacity to collaborate with gaming projects on the Polygon network by adding support for trade of non-fungible tokens (NFTs). The company intends to develop and take advantage of the growing blockchain gaming market on Polygon rather than only serving as a forum for NFT trading. The initiative switched to using multiple blockchains earlier this year, initially launching its marketplace on the Ethereum blockchain in August https://www.theblock.co/post/189035/magic-eden-expands-nft-support-to-polygon-network-embargo-9-am-et?utm_source=cryptopanic&%3Butm_medium=rss
Democrats on the Senate Banking Committee are worried that trading activities by SoFi Digital Assets could pose consumer risks, and warned that taxpayers “may be on the hook” to bail out the firm’s parent company if things go wrong. SoFi is under scrutiny by Senate Democrats, months after it received approval to be considered a bank holding company.
SoFi’s digital assets branch is hit by contagion in the crypto markets, lawmakers warned that taxpayers may foot the bill if the firm’s parent company or an affiliated national bank is impacted. SoFi received approval to be considered a bank holding company earlier this year, which would allow it to seek assistance from the Federal Reserve during a liquidity crisis. cost taxpayers if the firm’s parent company seeks assistance from the Federal Reserve. https://www.theblock.co/post/188931/senators-warn-of-sofi-consumer-risks-amid-crypto-crash
The U.S. Attorney’s Office for the Southern District of New York was investigating FTX months before the crypto exchange filed for bankruptcy protection, Bloomberg reported. The House of Representatives’ Financial Services Committee also said last week it will hold a hearing on the FTX implosion.
Prosecutors were specifically looking into compliance with the Bank Secrecy Act, Bloomberg said, citing unnamed sources. The probe was aimed at cryptocurrency platforms with U.S. and offshore arms, including Sam Bankman-Fried’s Bahamas-based firm, which also operated FTX US. FTX is now facing additional investigations from the Securities and Exchange Commission.https://www.theblock.co/post/188890/prosecutors-investigated-ftx-for-months-before-collapse-bloomberg
Three U.S. senators have again asked Fidelity Investments to reconsider a decision to allow retirement plan participants to invest in bitcoin, saying the industry has become increasingly “volatile, tumultuous and chaotic.”. Senators say the digital asset industry is full of “charismatic wunderkinds, opportunistic fraudsters.
Fidelity Investments has opted to expand beyond traditional finance and delve into the highly unstable and increasingly risky digital asset market,” the senators wrote. “The recent implosion of FTX, a cryptocurrency exchange, has made it abundantly clear the digital asset industry has serious problems. The industry is full of charismatic wunderkinds, opportunistic fraudsters and self-proclaimed investment advisers promoting financial products. https://www.theblock.co/post/188869/three-u-s-senators-ask-fidelity-to-reconsider-bitcoin-exposure-in-retirement-plans
Bitpreco, a Brazilian cryptocurrency exchange, has decided to extend its functionality to offer banking services through a new platform called Bitybank. The company, which will also open payment and digital account services, plans to attract users to crypto through cashback programs that counter the fears of users purchasing cryptocurrencies in today’s uncertain market.
Bitpreco to Launch Banking Services Through Bitybank
While several traditional banking institutions are now offering or considering offering cryptocurrency-related services in Brazil, crypto-centric applications are also seeking to include traditional financial instruments in their services portfolio. Bitpreco, a Brazilian exchange, is now expanding its services to offer banking functions. The company is one of the largest in Brazil, accounting for 13% of all bitcoin transactions in the last three months. https://dorkye.com/brazilian-exchange-bitpreco-to-expand-to-banking-services-bets-on-cashback-to-counter-crypto-fears/?ch=cryto
Genesis is having a hard time raising cash for its lending unit, and it is warning potential investors it could possibly file for bankruptcy if it is unable to do so, Bloomberg reported, citing people with knowledge of the matter. FTX’s bankruptcy filing earlier this month and has been trying to raise at least $1 billion.
Crypto founders such as The Sandbox’s Sébastien Borget, Exclusible’s Thibault Launay, Geometry’s Grégoire le Jeune, and Lorens Huculak, founder of the OpenSea-acquired Gem, also participated in the equity round, which closed in August. The startup declined to share its valuation.
Grand Theft Auto has followed Minecraft in banning NFTs from its third-party online servers. Developers cannot integrate cryptocurrencies or crypto assets such as NFTs, creator Rockstar Games confirmed in a statement last week. The company stressed that it still supports these servers despite the new restrictions. Rockstar Games has always believed in reasonable fan creativity and wants creators to showcase their passion for our games. Third party ‘Roleplay’ servers are an extension of the rich array of community-created experiences within Grand Theft Auto that we hope will continue to thrive in a safe and friendly way for many years to come,” the company said. The company stressed that it still supports these servers despite the new restrictions.
The fallout from FTX’s collapse has been devastating, and the market is poised for more losses. But according to a recent report by DappRadar, Web3 remains resilient. decentralized finance (DeFi) sector, too, has been impacted. But the user activity in the sector appears to be returning to levels from the previous month. According to a recent Dapp Radar report shared with CryptoPotato, the total value locked (TVL) across DeFi platforms has plunged over 20%, from $83 billion to $65 billion, since the beginning of the month. The TVL of the market leader – Ethereum – fell from $51 billion on November 1 to $41 billion on November 13, noting a 14% decrease. However, stETH lost its peg to ETH and is currently trading at 0.9883.
Story Audio File below
On this week’s episode of The Market Report, Cointelegraph’s resident experts discuss the potential collapse of the Grayscale Bitcoin Trust and its implications on the market.
On this week’s The Market Report show, Cointelegraph’s resident experts discuss what the ramifications would be if Grayscale Bitcoin Trust were to collapse.
We start off this week’s show with the latest news in the markets:
$16,163, the largest cryptocurrency, just like the rest of the crypto industry, remains highly susceptible to downside risk as it continues to deal with the fallout from the implosion of exchange FTX.
Contagion is the word on everyone’s lips as November grinds on — just like the Terra collapse earlier this year — and fears are that new victims of FTX’s giant liquidity vortex will continue to surface. Grayscale Bitcoin Trust (GBTC) seems to be on everyone’s radar this week for all the wrong reasons. Will it be the next black swan event? We break down all the details surrounding GBTC to keep you up-to-date. https://cointelegraph.com/news/could-a-grayscale-bitcoin-trust-collapse-be-the-next-black-swan-event-watch-the-market-report
Non-fungible token (NFT) market appears to have received the death blow with the FTX fiasco. Executives in the industry are hopeful about the space’s resurgence, nevertheless. Users have tried oblique methods to withdraw their funds due to the sizeable amount of user funds that are still trapped in the FTX exchange during its liquidity crisis. Purchasing NFTs based in the Bahamas is one of the alleged ways to withdraw balances https://cointelegraph.com/news/industry-expresses-confidence-in-the-nft-space-amid-the-ftx-collapse
Nike is launching a new web3 digital community called .SWOOSH. The new metaverse experience uses blockchain-powered technology to offer a place for athletes, creators, collectors, and consumers to design their own Nike virtual creations. To ensure it is a safe, trusted space, .SWOOSH has its own domain: welcome.swoosh.nike where Nike Members will be able to learn about and collect interactive digital objects, such as virtual shoes or jerseys, that community members will be able to wear in digital games and experiences. Some community members will be able to unlock access to physical products or events like one-on-one encounters with athletes or designers.
The Monetary Authority of Singapore (MAS) said it placed Binance on its Investor Alert List (IAL) and not the bankrupt FTX because the former is actively looking for users in the country, while the latter is not, according to a Nov. 21 statement.
The regulator noted that the Changpeng Zhao-led exchange introduced features like “offering listings in Singapore dollars and accepted Singapore-specific payment modes such as PayNow and PayLah” to entice Singaporeans. MAS further highlighted that it had urged Singapore’s Commercial Affairs Department to investigate whether Binance violated its Payment Service Act (PS Act).
FTX announced on Nov. 20 that exchanges should remain alert regarding unauthorized fund transfers from FTX Global and related debtors on Nov. 11. FTX warned exchanges to take all measures to ensure the unauthorized funds be seized.
Prior to the FTX announcement, blockchain data platform, Chainalysis tweeted out a thread explaining that funds stolen from FTX were on the move and that exchanges should be ready to freeze them if the hacker decides to cash out. FTX’s stolen funds were sent to the Securities Commission of The Bahamas (SCB) were false.
On Nov. 20, the FTX Exploiter account began to start shifting the stolen funds once again — totaling 50,000 Ethereum (ETH) valued at an estimated $60 million.Spread roughly across a four-hour window, the hacker first shifted 5000 ETH, then 10,000 ETH twice, and then finally a further 25,000 ETH to another wallet.
With $60 million in ETH on the new ‘0x866’ wallet, the FTX Exploiter then began bridging portions of the 50,000 ETH using RenBridge, the blockchain bridging platform backed by Alameda Research. The FTX Exploiter continued to swap the majority of the 50,000 ETH into renBTC and bridged a total of 692 renBTC. explained by the founder of YCC, Duo Nine.https://cryptoslate.com/ftx-exploiter-swaps-50k-eth-to-btc-swap-sparking-concern-for-ethereum-as-eth-dips-3/
Binance Labs, the venture arm of the Binance crypto exchange, has made a strategic investment in hardware wallet maker Ngrave. The investment is part of Ngrave’s series A funding round that Binance Labs will be leading, an Ngrave spokesperson said. The amount of funding wasn’t disclosed. Ngrave makes a hardware wallet called Zero, which aims to compete with larger providers like Ledger and Trezor. The devices, which secure private keys of crypto assets inside hardware in an attempt to guard users against hacks, can offer what some perceive to be better security than web-based private wallets, including MetaMask and TrustWallet. Binance Labs said the company is eager to capitalize on the emerging hardware wallet.
Nexo is being sued in London by a family of fintech entrepreneurs who allege that it froze their ability to withdraw up to £107 million ($126 million) of their assets and then intimidated them into selling it all to the crypto lender at a 60% discount.
According to a report by City AM, brothers Jason and Owen and cousin Shane Morton together held millions of Nexo’s NEXO token, along with tens of millions in Bitcoin and other cryptocurrencies. They claim to have first aired concerns about Nexo’s compliance and transparency in December 2020.
Japan’s Financial Services Agency requested the exchange suspend business orders on Nov. 10, prior to FTX Group declaring bankruptcy in the United States
Crypto exchange FTX’s subsidiary in Japan, FTX Japan, reportedly plans to resume withdrawals by the end of 2022.
According to a Nov. 21 report from Japan-based news outlet NHK, FTX Japan has been making preparations to resume withdrawals. Japan’s Financial Services Agency, or FSA, requested that the exchange suspend business orders on Nov. 10, prior to FTX Group declaring bankruptcy in the United States for more than 130 associated companies, including FTX Japan Holdings, FTX Japan and FTX Japan Services.
On Nov. 11, the FSA announced that it had taken administrative actions against FTX Japan amid reports that its parent company was “facing credit uncertainties.” The orders required FTX Japan to suspend over-the-counter derivatives transactions and related margins as well as new deposits from users from Nov. 10 to Dec. 9 unless directed otherwise by the financial regulator. FTX Japan should have also submitted a plan by Nov. 16 on how the exchange intended to protect investors and provide transparency on the ongoing situation
Citing an unnamed executive at the Japanese exchange, NHK reported that FTX Japan had roughly 19.6 billion yen in cash — more than $138 million — as of Nov. 10 when it ceased operations. The Japan-based company was also reportedly for sale amid FTX Trading’s bankruptcy proceedings in the United States.
Other FTX subsidiaries have taken similar actions in response to ongoing litigation against the company. Liquid, another FTX Group company based in Japan, announced on Nov. 20 that it had paused “all forms of trading” due to the firm filing for bankruptcy under Chapter 11. LedgerX, owned by FTX US under the firm West Realm Shire Services, may be exempt as a debtor in FTX’s bankruptcy filing.
Diamond, a decentralized Twitter alternative, recently launched on the DeSo blockchain. Creators are excited about posting on Diamond because all of their posts and social graph are stored on-chain and thus portable to any other app built on the DeSo blockchain, giving creators and their followers much more control and ownership. Users have been posting about alternatives as the Twitter turmoil continues. Blockchain technology offers a compelling alternative to the walled garden approach. Putting content and social graphs on-chain instead of on private servers ensures that a single centralized app like Twitter wouldn’t have so much control over public discourse.https://www.prnewswire.com/news-releases/web3-social-app-diamond-launches-and-quickly-crosses-130-000-monthly-active-users-301684149.html
- Grayscale will not show proof of reserves due to “security concerns,” after its bitcoin and ether products fell to all-time lows this week.
- Crypto firms are under pressure to share information about the health of their reserves after FTX filed for bankruptcy protection.
- Crypto investment firm Grayscale won’t show proof of reserves after bitcoin and ether products fall to new all-time lows.
- “Due to security concerns, we do not make such on-chain wallet information and confirmation information publicly available through a cryptographic Proof-of-Reserve, or other advanced cryptographic accounting procedure,” Grayscale said Friday afternoon on Twitter.
- The firm acknowledged its decision to keep its reserve information private would be a “disappointment” to some investors. Crypto firms are being pressed to show more information about their reserves after crypto behemoth FTX filed for bankruptcy protection earlier this month.https://www.theblock.co/post/188606/grayscale-wont-share-proof-of-reserves-citing-security-concerns
Shiba Inu (SHIB) has a lot of launches in the works. However, the most anticipated of the lot is the project’s layer-2 network, Shibarium. The team was supposed to launch the project sometime in Q3 of this year but decided to push the release date due to development delays. Although the bear market has brought a lot of fear among investors, it has not stopped developers from building new applications. PawZone is one such community that is building Dapps for Shiba Inu’s Shibarium network. The team has published a blog updating the community on its work. PawZone is working on an NFT marketplace for Shibarium called Pawzaar.
Tether, the issuer of the USDT stablecoin, said it was conducting a chain swap to move 1 billion USDT from Solana to Ethereum. This announcement came after a rival exchange, OKX, delisted both USDC and USDT on Solana, and also stopped accepting deposits or withdrawals. The Solana Foundation declined to comment on the situation and referred to an article Tether posted yesterday. “Alameda’s heavy involvement in Solana doesn’t impact the underlying dynamics of how USDT functions and USDT issuance works whatsoever,” Tether said in the post, referring to the sister trading firm of FTX that filed for bankruptcy protection last week. The Solana Foundation declined to comment on the situation and referred to an article Tether posted yesterday.
A special council under Ukraine’s securities regulator will be tasked to develop rules for crypto taxation in the country. The new body will be also responsible for coordinating the regulation of various crypto activities and adjustments to the applicable legislation.
Advisory Board to Take On Matters Related to Cryptocurrency Taxation in Ukraine
The National Securities and Stock Market Commission of Ukraine (NSSMC) has set up an advisory council that will be entrusted with the further development of the regulations for the digital asset market in the Eastern European nation.
The NFT, or non-fungible token, is admittedly one of those hot venture sectors I never really got. But I don’t write the checks or do the diligence. So, when well-known VCs started financing big NFT-related rounds last year and early this year, it seemed like a space to watch. The NFT space is no longer nearly as hot as it was earlier this year. Fewer deals are getting done, and much less money is going into them.The fourth quarter of 2021, a record-setting period for global venture funding across all industries, was also a hot time for NFTs. Startups in the space raised over $1.5 billion, with $725 million of that going to Forte, a blockchain gaming platform.
The largest Bitcoin (BTC) institutional investment vehicle is coming under suspicion as it trades at a record discount. With contagion and fears over a deeper market rout everywhere in Bitcoin and altcoins at present, misgivings are impacting even the best-known — and trusted — crypto industry names.
Former Twitter CEO Jack Dorsey and Elon Musk, Tesla’s CEO and the new owner of Twitter, have addressed suggestions that the social media platform should have less anonymity. Clinical psychologist Dr. Jordan B. Peterson is among the users who want less anonymity on the platform while Dorsey believes it would be a big mistake to impose a policy allowing less anonymity.
Elon Musk and Jack Dorsey Discuss Twitter’s Anonymity
The topic of how much anonymity Twitter should allow its users to have has been heavily discussed on the social media platform. Clinical psychologist Dr. Jordan B. Peterson is among the Twitter users who want less anonymity on the platform. On Friday, he tweeted to Elon Musk, who recently bought Twitter for $44 billion:https://dorkye.com/elon-musk-jack-dorsey-address-suggestions-to-allow-less-anonymity-on-twitter/?ch=cryto
The ethereum wallet known as the “FTX Accounts Drainer” has started to offload the ethereum it collected this past week after becoming the 27th largest ether address. On Nov. 19, 2022, the wallet held 250,735 ether, but by 7:44 a.m. (ET) on Nov. 20, the “FTX Accounts Drainer” transferred roughly 50,000 ether out of the wallet. By leveraging Ren’s bitcoin gateway, the entity has been swapping out the ethereum in exchange for bitcoin.
The ‘FTX Accounts Drainer’ Entity Wants Bitcoin
The wallet known as “FTX Accounts Drainer” has dropped from the 27th largest ethereum wallet position to the 37th position after unloading roughly 50,000 ether worth around $58.3 million on Sunday, Nov. 20, 2022. The day prior, Bitcoin.com News reported on the wallet becoming the 27th largest ether wallet after it consolidated more than 250,000 ETH.
Cardano will finally have its own fiat-backed stablecoin after one of its founding entities, EMURGO, announced that the USDA stablecoin will launch on the proof-of-stake network in the first quarter of 2023. The US Dollar will fully back the stablecoin to ensure that it provides long-term price stability
TX fiasco, the embattled crypto exchange has got it hot from all corners. On one side is the intensive investigation by the regulators, then legal actions from creditors. A few days after the collapse, the legal actions against the FTX exchange increased. Moreover, the latest update from the bankruptcy filings suggests the firm committed severe offences.
Cristiano Ronaldo seems to be hoarding football headlines this week. First, it is his defeat of Manchester United and his manager. We are now receiving news that Ronaldo has teamed up to launch the Cristiano Ronaldo NFT Collection with Binance. The first collection of NFTs will appear on the Binance NFT Marketplace on November 18th.
The agreement represents a multi-year partnership with the world’s leading crypto exchange. This is part of Binance’s global marketing strategy that could potentially bring new blood to the NFT space.
CR7 NFT Collection Exclusively on Binance
The collapse of numerous major crypto ecosystems in 2022 revealed the urgent need for revamping the way crypto exchanges operate. Ethereum co-founder Vitalik Buterin believed in exploring beyond “fiat” methods to ensure the stability of crypto exchanges, including technologies such as Zero-Knowledge.
Following a discussion with angel investor Balaji Srinivasan and crypto exchanges such as Coinbase, Kraken and Binance, Buterin recommended options for the creation of cryptographic proofs of on-chain funds that can cover investor liabilities when required, also known as safe centralized exchanges (CEX). The best case scenario, in this instance, would be a system that does not allow crypto exchanges to withdraw a depositor’s funds without consent. https://cointelegraph.com/news/binance-ceo-cz-begins-working-on-vitalik-buterin-s-safe-cex-ideas
FTX’s customers, former employees, and the public deserve answers,” Raja Krishnamoorthi, Chairman of the Subcommittee on Economic and Consumer Policy wrote in a Nov. 18 letter addressed to both former FTX CEO Sam Bankman-Fried and the exchange’s current CEO John J. Ray III.
The university is testing a simulated hurricane with residents on Georgia’s coast. The goal is to allow people to see the dangerous effects of a storm such as wind, rain and storm surge without risking their lives. Then, in the event of a real evacuation homeowners would be more willing to respond.
After a quick demonstration, Monahan went through the experience. The metaverse is different than other virtual reality like video games because it involves almost all your senses. The simulation begins inside a beach house. Monahan got a feel for the area and learned the layout. Then he is navigated to the “bedroom,” where the television is warning about the incoming storm.
Man Group, the biggest publicly traded hedge fund firm, is reportedly close to starting a crypto hedge fund. The crypto hedge fund strategy has been in development for several months, Bloomberg reported, citing people with knowledge of the matter who asked not to be identified. The crypto fund beginning operations is contingent on its assessment of counterparty risks, one of the people told Bloomberg. The effort is being led by money manager Andre Rzym. Man Group’s AHL already trades cryptocurrency futures. This announcement comes amid the unraveling of crypto exchange FTX, one of the most significant crypto market events in recent years.
Natascha Che of Tascha Labs, well-known strategist, angel investor and advisor, tracked two crucial metrics: the number of daily active addresses and daily transactions.The first network is “killing it,” as per the analyst: the number of its daily active addresses has jumped by 152%.
Optimism’s daily active addresses have added over 231%, while the daily transactions have more than doubled. These statistics say that both networks are actively onboarding new users while increasing the engagement of existing ones. Solana, the worst L1 sufferer of the ongoing FTX/Alameda drama, is seeing both metrics bleed. It has lost one third of its users, while its daily transactions have dropped by 42%. https://u.today/arbitrum-usage-spikes-by-almost-500-in-90-days
Alameda’s CEO made a suspicious offer to CZ, which the latter ultimately refused. After Hacktober, which saw countless DeFi projects being exploited for hundreds of millions of dollars in total, November was expected to be a calmer month for crypto. However, that was not the case as the industry saw one of the fastest, loudest, and most shocking deterioration of a giant – FTX.
According to some estimations, Binance held more than 23 million tokens, valued at over $500 million back then. This was approximately 10% of FTT’s market cap at the time. Alameda’s CEO, Caroline Elison, quickly responded to CZ, offering to purchase all FTT coins at $22 per one. The problem stemmed from the fact that this offer was below the market’s price. Zhao refuted the proposition, saying Binance will “stay in the free market.” But there might be bigger ramifications from Elison’s tweet than just trying to buy tokens below their market price. https://cryptopotato.com/ftxs-beginning-of-the-end-traced-back-to-this-alameda-tweet-analysis/
FTX founder Sam Bankman-Fried quietly cashed out $300 million in personal stakes in the midst of a $420 million fundraise in October 2021, the Wall Street Journal reported. The move was unusual in the world of startups, as founders don’t typically see a profit prior to investors.
The stock sale in October 2021 came during a six-month fundraising effort that brought in $2 billion from investors like BlackRock, Sequoia Capital and Temasek and that valued FTX at $25 billion, the Journal said. For its FTX shares, Binance received $2.1 billion in the form of BUSD and FTT tokens. Those FTT tokens seemed to become the catalyst for a market tip-off that something was off. https://www.theblock.co/post/188526/bankman-fried-cashed-out-300-million-during-ftx-fundraise-last-year-wsj
The Securities and Exchange Commission has started administrative proceedings against American CryptoFed, a Wyoming-based decentralized autonomous organization (DAO), to weigh a stop order to suspend the registration of the offer and sale of its Ducat and Locke tokens.
An issuer seeking to register the offer and sale of crypto assets as securities transactions must furnish the required disclosure information to the SEC,” David Hirsch, chief of the enforcement division’s crypto assets and cyber unit, said in a statement. “American CryptoFed not only failed to comply with the disclosure requirements of the federal securities laws, but it also claimed that the securities transactions. https://www.theblock.co/post/188464/sec-moves-to-suspend-sale-of-american-cryptofed-dao-tokens
NFTs are Non-Fungible Tokens. Essentially, NFTs are digital representations of unique and indivisible things – both digital and physical. They can be used to represent digital collectables, artwork and music.
An NFT is only a signature showing ownership of the art or song and pointing to where the item actually exists, such as a location on the internet.
It may be useful to contrast this with cryptocurrencies such as Bitcoin that are fungible. For Bitcoin to function as a currency, it has to be fungible. In other words, all Bitcoin are equal and mutually interchangeable. You can’t have a unique Bitcoin.
NFTs on the other hand, are used to represent unique assets. Unlike banknotes or Bitcoin, no two NFTs are alike. They are unique and the information that identifies them, shows previous owners and can program rights around how they are used is defined in a smart contract.
One way to think about NFTs is that they are file format for blockchains. Just like file formats such as jpeg, gifs, or mp3 are used to transfer information (or data) over the internet, NFTs are used to transfer ownership information over blockchains such as Ethereum.
NFTs have various use cases including list below and so much more See unstoppable Domain for the next elevation of NFTdomains https://unstoppabledomains.com/ and check out the youtube channel
Certificates of Authenticity
This page and information will evolve and change over time #TOGRP
FTX’s rapid debacle has caused widespread pain for the crypto community, but certainly not close to that of the Solana community. Since November 6th, Solana’s token (SOL) price has plunged by just over 63%, making it only second to FTX’s native token, FTT, which is down over 93%.
Many believe that Solana’s fate was sealed by FTX’s ex-CEO Sam BankMan-Fried’s close association with the proof-of-stake blockchain. Over the past 2 years, Solana had rapidly risen to become one of the largest blockchains thanks to Fried, who was both a massive investor and voice for the ecosystem.
Earlier this week, it emerged that Alameda and FTX owned 58.08M SOL tokens, representing nearly 11% of the SOL total supply, raising fears of a dump. Those holdings placed Bankman-Fried at the center of much of Solana-based decentralized finance, enraging investors who have been emptying their bags.
On Thursday, Solana’s woes only seemed to worsen, with Binance temporarily halting all deposits of USDC and USDT on the Solana blockchain. Earlier, OKX had announced it would delist both USDC and USDC on Solana and suspend deposits and withdrawals. That said, following the filing of Chapter 11 bankruptcy protection by FTX, regulators may extend their reach to tokens which had close ties with the exchange, further plunging SOL. https://dorkye.com/despite-solanas-tumble-amid-the-ftx-collapse-the-community-is-keeping-its-hopes-high/?ch=cryto
With the kickoff of the 2022 FIFA World Cup in Qatar just around the corner, Chinese soccer fans are eager to embrace the mega event, which is set to take on a metaverselike look for many sporting enthusiasts watching from afar. metaverse loosely refers to a shared virtual environment or digital space. Virtual reality-enabled game watching experiences, humanlike virtual soccer commentators and soccer-themed digital collections will all provide World Cup fans in China a virtual front-row seat not only to stunning competitions but also first-hand knowledge of how the metaverse is starting to reshape the multibillion-dollar global sports industry.
The Decentraland DAO – the metaverse platform’s community decision-making tool – is holding a vote on whether to temporarily pause its grants program and reassess its structure. any community member can request funding for efforts to improve the platform or implement new features. Specifically, the proposal notes that its DAO treasury holds funds equal to $19.3 million, with 99.1% of those assets held in MANA, Decentraland’s native cryptocurrency, and only 0.9% held in “other” tokens. the time might be right to pause and review its current structure, identifying valuable lessons from its shortcomings. Specifically, the proposal notes that its DAO treasury holds funds equal to $19.3 million.https://finance.yahoo.com/news/decentraland-dao-considers-pausing-grants-223920490.html
This month, gold has outperformed bitcoin after crypto markets shuddered from the recent FTX collapse, and the precious yellow metal climbed 6.12% since the first of November. The U.S. housing market has shown weaknesses and October’s U.S. inflation rate was lower than expected. Analysts believe these economic trends contributed to pushing gold’s price up by 3.81% against the greenback on Nov. 10, 2022, after the U.S. Bureau of Labor Statistics published October’s consumer price index (CPI).
So Far Gold’s Market Performance in November Has Outpaced Bitcoin’s
Bitcoin has seen better days as the leading crypto asset is down more than 18% lower than it was during the first of November. A great deal of the crypto asset’s USD losses can be contributed to the FTX collapse and the chaotic aftermath that followed.https://dorkye.com/gold-outshined-bitcoin-this-month-climbing-6-higher-amid-us-real-estate-slump-lower-cpi-data/?ch=cryto
The leading institutional Web3 summit will kick off in Miami soon — and has attracted high-profile speakers from across TradFi and Web3. MiamiWeb3 — which is being held at the InterContinental Hotel from Nov. 28 to 30 — will provide a platform to discuss key trends in this fast-moving sector, as well as policy and where the industry is heading next. The city’s mayor, Francis Suarez, will be among the attendees — alongside Senator Cynthia Lummis, who has made a name for herself as one of the staunchest cryptocurrency supporters in Congress. She has also played an instrumental role in driving Washington, DC, to enact forward-thinking legislation. https://cointelegraph.com/news/miamis-next-big-web3-summit-announces-packed-agenda-featuring-high-profile-speakers
Crypto News Today Live Updates November and Latest News: (19 November 2022) The global crypto market registered a decline on Saturday after witnessing a marginal recovery on the day before. However, FTX former Chief Sam Bankman-Fried (SBF) has suffered a major blow as legal challenges mount up.
The Cumulative digital asset market cap has received a major blow due to the collapse of FTX. It now stands at $831 billion. The 24 hour trading volume has also dropped by 20% to stand at $41.2 billion.
Crypto News Today Live Updates
Crypto payments company Ripple is seeking a virtual asset service provider license from the Irish regulator as it expands its operations in Europe, according to CNBC. The U.S.-based company is involved in a dispute with the Securities and Exchange Commission that is driving the company to look for business abroad. “Effectively, Ripple is operating outside of the U.S.,” Alderoty said in the report. The SEC filed a lawsuit against Ripple in 2020 alleging that the sale of its XRP tokens counted as unregistered securities worth $1.3 billion. Ripple’s head of public policy, Susan Friedman, recently told The Block that they are in the process of filing a reply brief to summary judgment and are expecting a ruling in 2023. Ireland granted the currently troubled Gemini exchange a virtual asset service provider license in October.
This integration enables users to enter the Web3 world in an easier and seamless way. Users can now transfer crypto assets from their Binance Funding Wallet to their Trust Wallet app without withdrawal fees or needing to scan/input a wallet address. Currently, the function is supported on Android, and will be available on iOS soon.
Despite being dismissed as a niche fad by critics for years, NFTs continue to forge ahead in the corporate world, being adopted by some of the most famous brands on the planet. One of the newest brands to do this is Rolex, a luxury watch manufacturer.
This is because the brand has filed a trademark application for NFT-related products, according to documents filed at the end of October 2022.
Rolex comes to the metaverse
According to the filing, Rolex could potentially launch not only the NFTs themselves, but also software to facilitate auction sales of digital assets, including watches. The brand is also considering creating a platform for buyers and sellers to trade similar assets.
Recent questionable antics in the FTX house have rocked the halls of Web3. One such casualty was that the Bored Ape Yacht Club significantly lowered its once unassailable floor price.
After the recent drop in FTX, there was a sell-off that has all the hallmarks of a panic sell-off. In essence, trading giant OpenSea’s surveillance witnessed a spike in WETH sales on the Ethereum network, meaning that a huge number of buyers were quick to accept low offers as the floor prices began to drop.
WHAT IS WEB 3 AND WHY IS EVERYONE TALKING ABOUT IT
“Web 3 represents the next generation of the internet, one that focuses on shifting power from big tech companies to individual users“#web3grandpappa #togrp ZentaPost #CryptoWhitePapers #ZentaWhitePapers
Web 3 – also known as “Web3″ or “Web 3.0″ – is a term you may of heard thrown around a lot lately. It simply refers to the next iteration of the internet that promotes decentralized protocols and aims to reduce dependency on large tech companies like Youtube, Netflix and Amazon. But what is it, and why is it on everyone’s minds?
What is Web3?
To understand Web 3, it makes sense to understand what came before. The first version of the Internet – known as Web 1 – arrived in the late 1990s and comprised a collection of links and homepages. Websites weren’t particularly interactive. You couldn’t do much apart from read things and publish basic content for others to read.
Brian Brooks, the CEO of Bitfury, put it smartly in a speech to the U.S. Congress in December 2021: “If people remember their original AOL account, it was an ability to look in a curated ‘walled garden’ at a set of content that was not interactive, but was presented to you on AOL, the way that Time Magazine used to show you the articles they wanted you to see inside of their magazine, just you could see it on a screen.”
Web 2 came next. Some people call this the “read/write” version of the internet, in reference to a computer code that lets you both open and edit files rather than just view them. This version of the Internet allowed people to not only consume content, but create their own and publish it on blogs like Tumblr, Internet forums and marketplaces like Craigslist. Later, the emergence of social media platforms including Facebook, Twitter and Instagram took content sharing to new heights.
After a while, the general public became cognizant about the way their personal data was being harvested by tech giants and used to create tailored advertisements and marketing campaigns. Facebook, in particular, has had the spotlight shone on it innumerable times for breaching data privacy laws and was hit with a $5 billion fine in 2019 – the largest penalty ever issued by the Federal Trade Commission (FTC.)
Although Web 2 has brought the world amazing free services, a lot of people have grown tired of the new “walled gardens” these huge tech companies have created and want to have more control over their data and content. This is where Web 3 comes in.
Web 3 can be understood as the “read/write/own” phase of the Internet. Rather than just using free tech platforms in exchange for our data, users can participate in the governance and operation of the protocols themselves. This means people can become participants and shareholders, not just customers or products.
In Web 3, these shares are called tokens or cryptocurrencies, and they represent ownership of decentralized networks known as blockchains. If you hold enough of these tokens, you have a say over the network. Holders of governance tokens can spend their assets to vote on the future of, say, a decentralized lending protocol.
Again, here’s Brooks: “The real message here is that what happens on the decentralized internet is decided by the investors versus what happens on the main internet is decided by Twitter, Facebook, Google and a small number of other companies.”
Web3 Terms 101 -Web3 Terminology
When you decide to buy your first Unstoppable Domain, you’re going to start seeing a lot of terms like blockchain, decentralized, NFT, web3, and more. While they’re all related to owning an Unstoppable domain , they don’t all mean the same thing.
Lucky for you, we’re here to demystify all this crypto-speak for you! Once you’re better equipped with the, you’ll be ready to navigate the decentralized web with more confidence and swag.
a publicly-accessible digital ledger used to store and transfer information without the need for a central authority. Blockchains are the core technology on which cryptocurrency protocols like Bitcoin and Ethereum are built.
a system operated by a distributed, peer-to-peer network instead of a central figure or authority.
the process of validating information, such as domain ownership, and registering that onto the blockchain.
- NFT (Non-fungible token)
a digital certificate of authenticity used to assign and verify ownership of a unique digital or physical asset. Unlike fungible tokens, NFTs are not interchangeable with one another. Unstoppable Domains are NFTs themselves, meaning you have complete ownership and control over them.
a software application or hardware device used to store the private keys to blockchain assets, such as cryptocurrencies and NFTs. Unlike a traditional wallet, a blockchain wallet does not actually store the coins or tokens themselves. Instead, it stores the private key that proves ownership of a given digital asset. (e.g. Metamask, Coinbase Wallet, Ledger, Trezor)
- Wallet Address
also known as a public key, this is an alphanumeric code that serves as the address for a blockchain wallet, similar to a bank account number. Unstoppable Domains replaces these complicated addresses with easily-readable domain names. Anyone can send digital assets to your wallet via your public key or domain name, but only you can access your wallet’s contents by using the corresponding private key.
the next iteration of the web being ushered in as we speak, which leverages blockchain technology, open-source applications, and the decentralization of data and information. Web3 aims to remove control of the web from monopolistic tech companies, and return ownership of data and content to its users. Also referred to as the “decentralized web” and the “read-write-trust web.”
- Airdrop (noun, verb)
a marketing technique in which crypto projects send their native tokens directly to the wallets of their users in an effort to increase awareness and adoption.
- Alpha (noun)
valuable or insider information, usually regarding the value of digital assets like cryptocurrencies and NFTs; a measure of the return on an investment over and above the return offered by the market or other benchmark.
- Altcoin (noun)
initially used to refer to any cryptocurrency that wasn’t Bitcoin, altcoin may now refer to any new cryptocurrency with a relatively small market cap.
- Alts (noun)
short for altcoins.
- Ape (noun, verb)
someone who invests heavily into a cryptocurrency or stock, or the act of doing so. This is sometimes a reaction to hype and FOMO, or done without much knowledge of the asset. It should be noted, though, that this is generally a self-assigned term and does not carry a negative connotation. Is it a Planet of the Apes reference? Maybe a reference to the sheer physical strength of apes? The origins are a bit blurry, but one thing is certain — apes together strong.
- ATH- All Time High (noun)
the highest price an asset has ever had.
- ATL- All Time Low (noun)
the lowest price an asset has ever had.
- Bear Market (noun)
a prolonged period of decline in a financial market.
- Bearish (adjective)
similar to a bear market, this refers to holding a pessimistic view of a market or asset’s value. If you are bearish on a certain cryptocurrency, you believe its value will decrease over time. Those who are bearish may be referred to as bears, sometimes purposely misspelled as beras
- Bitcoin (noun)
the very first decentralized, peer-to-peer, digital currency, created by the pseudonymous Satoshi Nakamoto in 2009.
- Block (noun)
a batch of transactions written to the blockchain. Every block contains information about the previous block, thus, chaining them together.
- Blockchain (noun)
a publicly-accessible digital ledger used to store and transfer information without the need for a central authority. Blockchains are the core technology on which cryptocurrency protocols like Bitcoin and Ethereum are built.
- Blockchain Domains (noun)
See: NFT Domains
- Block Explorer (noun)
a tool for browsing information on a blockchain, such as transactions, wallet addresses, market caps, and hash rates.
- Bridge (noun)
a protocol allowing separate blockchains to interact with one another, enabling the transfer of data, tokens, and other information between systems.
- Buidl (verb)(verb)
meaning “build,” a common intentional misspelling used in crypto circles in reference to the term HODL
- Bull Market (noun)
a period where market prices are rising.
- Bullish (adjective)
similar to a bull market, this refers to holding an optimistic view that a market or asset will rise in price. If you are bullish on Bitcoin, you believe that its value will continue to rise over time.
- Burn (verb)
the process of removing tokens from a cryptocurrency’s circulating supply, usually done by sending them to an inaccessible wallet address. Other digital assets, such as NFTs, can also be burned via the same process.
- Centralized (adjective)
a hierarchical structure in which authority and control are concentrated within a small group of decision makers.
- CEX- Centralized Exchange (noun)
a cryptocurrency exchange managed by a centralized business or entity.
i.e. Coinbase, Gemini, Kraken
- CeFi- Centralized Finance (noun)
centralized businesses that participate in crypto.
I.e. BlockFi, DCG, Grayscale
- Coin (noun)
a cryptocurrency built on its own native blockchain, intended to be used as a store of value and medium of exchange within that ecosystem.
i.e. BTC, ETH
- Collateral (noun)
any asset accepted as security for a loan, such as a physical asset like real estate, or a digital asset like an NFT.
- Cold Wallet (noun)
an offline device used to store cryptocurrencies. Cold wallets can be hardware devices or simply sheets of paper containing a user’s private keys. Because cold wallets are not connected to the internet, they are generally a safer method of storing cryptocurrencies.
See also: hot wallet (antonym)
- Consensus (noun)
the state of agreement amongst the nodes on a blockchain. Reaching consensus is necessary for new transactions to be verified and new blocks to be added to the blockchain.
- Consensus Mechanism (noun)
a process through which nodes on a blockchain come into agreement on a transaction or state of the network.
See: Proof of Work, Proof of Stake
- Cryptocurrency (noun)
a digital asset designed to be used as a medium of exchange. Cryptocurrencies are borderless, secure, and maintained by blockchains as opposed to centralized banks or governments.
- DAO- Decentralized Autonomous Organization (noun)
an organization based on open-source code and governed by its users. DAOs typically focus on a specific project or mission and trade the traditional hierarchical systems of legacy corporations for guidelines written on the blockchain.
- Dapp- Decentralized Application (noun)
an application built on open-source code that lives on the blockchain. Dapps exist independent of centralized groups or figures and often incentivize users to maintain them through rewarded tokens.
- Data (noun)
in the context of the internet, data refers to a user’s personal information, such as name, age, location, interests, browsing history, device usage, purchasing habits, etc. Web3 aims to protect this personal data and give ownership of it back to the user.
- DD- Due Diligence (noun)
the process of conducting your own research on a cryptocurrency, stock, or other asset before investing. Doing your own DD is essential, as opposed to making an investment based on what someone else says or does.
“This is just based on my own research, so do your DD before investing yourself.”
- Decentralized (adjective)
a system that operates without the control of a central figure or authority, and replaces it with a distributed peer-to-peer network.
- Degen (noun, adjective)
initially short for “degenerate gambler.” While this still refers to individuals involved with risky bets, degen may also refer more broadly to anyone involved in crypto and financial spaces. Like with “ape,” this is generally a self-assigned term and does not carry a negative connotation. Degens are a proud people who enjoy ridiculous call options on GME, buying the dip before paying their rent, and occasionally aping into shitcoins.
“Which one of you degens just bought $50K of XRP at its ATH?!”
- DeFi- Decentralized Finance (noun)
the ecosystem of borderless, trustless, peer-to-peer financial tools being built on public blockchains without the use of banks. DeFi apps are built to be open and interconnected, allowing them to be used in conjunction with one another.
- DEX- Decentralized Exchange (noun)
a peer-to-peer cryptocurrency exchange built on the blockchain. A DEX is run by its users and smart contracts instead of an intermediary figure or centralized institution.
i.e. Uniswap, 1inch, Sushiswap
- Diamond Hands (noun, adjective)
a term implying that you are extremely bullish on a certain asset, and have no plans to sell regardless of market volatility, FUD, or extreme drops in price. Someone who holds onto a cryptocurrency or stock as it drops 40% in a day is said to have diamond hands.
See also: paper hands (antonym)
- Difficulty (adjective)
the level of computing power needed to verify transactions and mine blocks on a proof-of-work blockchain.
- Difficulty Bomb (noun)
the process of increasing the difficulty of a proof-of-work blockchain in order to motivate the transition to another consensus algorithm (such as proof-of-stake in the case of Ethereum).
- DYOR- Do Your Own Research
similar to DD, this phrase is used to remind people to conduct their own investigation into an asset before investing in it.
“I’m very bullish on this, but obviously DYOR.”
- EIP- Ethereum Improvement Proposal (noun)
a standard format for presenting a new feature or process to the Ethereum community.
- ERC- Ethereum Request for Comments (noun)
the standard smart contract outline on which Ethereum-based smart contracts are built.
- ERC-20 (noun)
the Ethereum token standard, providing a standardized smart contract structure for fungible tokens.
- ERC-721 (noun)
an Ethereum token standard that allows for the formation of unique tokens, otherwise known as NFTs, or non-fungible tokens. Unlike the ERC-20 standard, ERC-721 tokens have specific properties that allow each to be uniquely identified and valued independently of one another.
- ERC-1155 (noun)
an Ethereum token standard which allows for fungible, non-fungible, and semi-fungible tokens to be managed by a single smart contract simultaneously. These are commonly used in gaming and collectible trading to reduce the number of necessary transactions.
- Ethereum (noun)
a public blockchain serving as the foundation for decentralized applications. Ethereum is a turing complete language, allowing for users to write and deploy complex, self-executing smart contracts which live on the blockchain.
short for “Few understand”. A rallying cry that crypto folks are still early in this space and will make a lot of money when mass adoption comes.
- Fiat (noun)
a currency established as legal tender, often backed and regulated by a government, such as the US Dollar.
- Flippening (noun)
a reference to the possible event of Ethereum becoming more valuable than Bitcoin, in terms of market cap. DISCLAIMER: Please do not mention the flippening to Bitcoin maxis. They will not think it is funny, and they will proceed to explain why Ethereum is a shitcoin.
- FOMO- Fear Of Missing Out (noun)
a feeling of anxiety, stemming from missing out on an opportunity. In investing, this usually coincides with investors buying an asset after it has already seen a considerable increase in price, hoping to get in and out before a pullback occurs. This is known as “FOMOing in” or “aping in.”
- Fork (noun, verb)
a change to a blockchain’s protocol. When these changes are minor, this results in a soft fork. When the changes are more fundamental, this may result in a hard fork, leading to the formation of a separate chain with different rules.
See also: hard-fork, soft-fork
- Fractionalize (verb)
the process of locking an NFT into a smart contract, and then dividing it into smaller parts which are issued as fungible tokens. This lowers the price of ownership and allows artwork and other digital assets to be owned by a community.
- FUD- Fear, Uncertainty, and Doubt (noun)
news around an asset that seems negative, but turns out to be false or blown out of proportion.
- Full Node (noun)
a blockchain node which stores the blockchain’s complete history, as well as verifies and relays transactions.
See also: node, light node, master node
- Fungible (adjective)
interchangeable; exchangeable with something else of the same kind.
See also: non-fungible (antonym)
- Gas (noun)
a fee paid by a user to conduct a transaction or execute a smart contract on the Ethereum blockchain. This fee is dependent upon the transaction’s complexity as well as the current demand on the network.
See also: gwei
- Genesis Block (noun)
the very first block of a blockchain network.
simply meaning “good morning,” gm is a common greeting used in crypto circles
short for “gonna make it.” This term is frequently thrown around on Twitter to voice support for a project or person.
See also: NGMI (antonym)
- Gwei (noun)
a denomination of ether used as the unit of measure for Ethereum gas prices. 10^9 gwei = 1 ether.
See also: gas, wei
- Hard Fork (noun, verb)
a fundamental change to a blockchain that is not compatible with the existing protocol, requiring the formation of a new chain.
i.e. Bitcoin vs. Bitcoin Cash, Ethereum vs. Ethereum Classic
- Hashing (verb)
the process of taking an input of any size and producing a corresponding fingerprint of a fixed-length. Hashing allows a set of data to be secured, stored, and recalled using a unique identifier code. This is the backbone of blockchain technology, allowing data and transactions to be verified and stored in a secure manner.
See also: SHA-256, txn hash
- Hash Rate (noun)
also referred to as hash power, this is the rate at which a computer can generate guesses to a cryptographic puzzle. Hash rate can also refer to the overall power being used by the entire network on a proof of work blockchain.
- HFSP- Have Fun Staying Poor
a phrase commonly aimed at individuals who do not own any cryptocurrencies, or don’t believe in the value of a certain asset.
“Did you buy some ETH yet?”
“No, crypto is a ponzi-scheme that will crash any day now.”
“LOL okay HFSP.”
an expression meaning “hold” and frequently taken to be an acronym for Hold On for Dear Life. This term actually began its life as a typo on an old forum, Bitcointalk.org, where user GameKyuuby explained that he was “HODLING” his bitcoin as the price dropped. The misspelling quickly caught on and is still used today.
- Holding the bag
this is the unfortunate position you find yourself in when an asset you own quickly drops in value but you do not sell. You are thus left holding a bag of worthless coins or stocks. Those who end up in this position are referred to, unsurprisingly, as bagholders.
“I’m not holding the bag. I’m HODLING. The bull market isn’t over.”
- ICO- Initial Coin Offering (noun)
the selling of tokens to the public in order to raise capital for a crypto-based project . ICOs are a crowdfunding approach, similar to a traditional company’s IPO.
- IEO- Initial Exchange Offering (noun)
similar to an initial coin offering, or ICO, an initial exchange offering is a method of selling tokens to raise capital, but with increased regulation. Unlike an ICO, which sells new tokens directly to the public, an IEO is managed by an existing cryptocurrency exchange. By working with a known and trusted exchange, IEOs seek to make the ICO process more secure.
- Key (noun)
See public key, private key
- L1- Layer 1 (noun)
this is the blockchain platform itself, also referred to as the base layer, mainchain, or mainnet.
i.e. Bitcoin, Ethereum, Cardano, Litecoin, Solana, Polkadot
- L2- Layer 2 (noun)
protocols, also referred to as solutions, built on top of a layer 1 blockchain and commonly used to improve scalability, privacy, and add cross-chain communication. Unlike sidechains, which use their own consensus mechanisms, layer 2 solutions are secured by their underlying mainchain.
i.e. Lightning Network, Optimism, Arbitrum
- Lambo (noun)
short for Lamborghini. The ability to purchase Lambo is a goalpost for success, used in a myriad of phrases in the crypto and degen spaces. For instance “wen Lambo?” roughly translates to “I just purchased $43 worth of Dogecoin. When will the value of said investment increase enough to enable the purchase of a Lamborghini?”
- Light Node (noun)
a blockchain node that downloads just enough data from the blockchain in order to process and verify transactions. Unlike full or master nodes, light nodes do not store a blockchain’s complete history.
- Liquidity (adjective)
a measure of how easily an asset can be bought, sold, or traded in a given market or on an exchange.
- Liquidity Pool (noun)
a collection of user-provided funds locked into a smart contract to facilitate trading on a DeFi platform. On decentralized exchanges and lending protocols liquidity must be provided by the users, as there is no central bank or figure to do so.
- Mainnet (noun)
short for main network, this is a main layer 1 blockchain, as opposed to a testnet or layer 2 solution.
See also: L1, testnet (antonym)
- Market Cap (noun)
the total value of an asset based on its current market price. A cryptocurrency’s market cap is found by multiplying the price of a single coin by its circulating supply.
- Master Node (noun)
a blockchain node that verifies and relays transactions, stores the blockchain’s complete history, and may participate in voting, governance of the blockchain, and other special operations. Master nodes generally operate on a collateral based system, similar to a Proof-of-Stake protocol.
See also: node, full node, light node
- Metaverse (noun)
a theoretical or emergent networked online space with digitally persistent environments that people inhabit, as avatars, for synchronous interactions and experiences, accessing the shared virtual space through virtual reality, augmented reality, game consoles, mobile devices, or conventional computers.
- Mining (verb)
in a Proof of Work system, this is the process of verifying transactions, organizing them into blocks, and then adding blocks to the blockchain. Participants who perform this process are called miners.
- Minting (verb)
the process of validating information, such as domain ownership, and registering that onto the blockchain.
- Moon / To the moon!
this phrase implies that the value of an asset will go so high that it will reach the literal moon. This is used by shills, bulls, and during a bull market, essentially everyone. Another form of this is “wen moon?” This is used to express one’s impatience with an asset which is not increasing in value as quickly as they had hoped.
See also: Lambo
- Moonboy (noun)
a term for social media “financial experts” and YouTubers who are overly optimistic and constantly explaining how a given asset is “about to go to the moon!”
See also: shill
- NFT- Non-fungible token (noun)
a digital certificate of authenticity used to assign and verify ownership of a unique digital or physical asset. Unlike fungible tokens, NFTs are not interchangeable with one another.
See also: ERC-721, non-fungible
- NFT Domains (noun)
domain names minted on the blockchain which allow people to govern their own data, set their Web3 username, take control of their digital worlds, and harness the power of the internet.
short for “not gonna make it.” This is used to imply that a certain project or asset has a low chance of becoming valuable. This can also be directed at an individual, usually someone who had made a poor trade or investment.
“Everyone who sold their ETH during that dip ngmi.”
- Nocoiner (noun)
a term used to describe someone who does not hold any cryptocurrencies, or who is generally unfamiliar with crypto.
- Node (noun)
any device connected to a blockchain network. Different nodes have varying levels of responsibility, and may help validate transactions, store the blockchain’s history, relay data, and perform other functions. Because blockchains are distributed peer-to-peer networks, nodes come together to create the network’s infrastructure.
See also: full node, light node, master node
- Non-fungible (adjective)
unique; not interchangeable.
See also: NFT
- Oracle (noun)
a service supplying smart contracts with data from the outside world. Smart contracts are unable to access data that exists off-chain, so they rely on oracles to retrieve, verify, and provide external information.
i.e. Chainlink, Band Protocol
- P2P- Peer-to-Peer (adjective)
a distributed network of two or more computers which interact directly without a central server or entity.
- Paper Hands (noun, adjective)
a term used to describe someone who sold a cryptocurrency or stock as its price was falling, usually for a loss. Someone with paper hands is said to be weak and unable to stomach market volatility.
- PFP (noun)
profile picture, usually referring to one of an NFT
see red pilled
- Private Key (noun)
an alphanumeric passcode required to withdraw assets from a blockchain wallet and authorize digital transactions. Because these private keys are long and difficult to memorize, wallets will generally associate them with a seed or recovery phrase that is easier to remember.
See also: public key, seed phrase
- Potentially Promising
first used by Elon Musk to refer to planned upgrades to Dogecoin. Referring to something as being potentially promising quickly caught on, being used both sarcastically and in a serious manner, albeit tongue-in-cheek.
- PoS- Proof of Stake (noun)
a consensus mechanism that requires nodes, called validators, to stake a set amount of cryptocurrency on the blockchain in order to verify transactions and mint blocks. If a validator approves fraudulent transactions, then a portion of their stake will be slashed.
See also: slash
- PoW- Proof of Work (noun)
a consensus mechanism that requires miners to complete complex mathematical puzzles in order to verify transactions and mint blocks. When a miner correctly solves a puzzle, they gain access to mint the next block and receive the corresponding block reward and transaction fees.
See also: miners
- Protocol (noun)
the foundational software layer of a program. Protocol has become a general term used to refer to both layer 1 blockchain networks and the layer 2 applications built on top of them — Bitcoin, Ethereum, Uniswap, and Lightning Network can all be considered protocols.
- Public Key (noun)
uses to point to your wallet address, this is an alphanumeric code that serves as the address for a blockchain wallet, similar to a bank account number. Other users can send digital assets to your wallet via your public key, but only you can access your wallet’s contents by using the corresponding private key.
See also: wallet address, private key
- Pump and dump (noun, verb)
a scheme where a cryptocurrency or other asset is hyped up, leading many to buy into it, raising its price. Those who did the hyping then sell their holdings of the asset as the price rises for a short period of time. This then leads to a sharp selloff where anyone who did not sell suffers a loss.
See also: holding the bag, rekt, rug pull
- Red Pilled (adjective, verb)
- Rekt (adjective, verb)
as in “wrecked,” used to express that one has suffered a huge loss.
- Rug pull (noun, verb)
a scam maneuver where a crypto project takes the funds that have been invested into its protocol and runs. An inside job pump-and-dump, if you will. A rug pull can also occur in assets with highly centralized ownership. If someone is able to sell a large portion of the circulating supply at once, this rapidly increases the supply, which can cause the price of the asset to plummet.
- Rollup (noun)
a scaling solution that aims to improve transaction throughput and decrease fees by batching multiple transactions off-chain and then submitting them to the main chain as a single transaction.
i.e. Optimism, ZK, Arbitrum
- Satoshis/Sats (noun)
the smallest denomination of BTC, equal to 0.00000001 bitcoin. Satoshis are named after Bitcoin’s pseudonymous creator, Satoshi Nakamoto.
- Scalability (adjective)
a protocol’s capacity to handle higher demand and increase transaction throughput as the network grows.
- Seed Phrase (noun)
a string of words used as a master password to access a crypto wallet. Because a single wallet can contain multiple accounts, all with their own private keys, a seed phrase makes it easy to access them all with the same password.
- Ser (noun)
meaning “sir,” a common intentional misspelling used in crypto circles
- SHA-256 (noun)
SHA stands for Secure Hashing Algorithm, a set of cryptographic hashing functions designed by the NSA. Essentially, SHA-256 takes an input of data and generates a long sequence of letters and numbers, called a hash. This hash is then used as a secure placeholder for the data it represents.
See also: hashing
- Sharding (verb)
a method of separating a network’s nodes out into smaller groups (shards) in an attempt to increase scalability. These shards are then able to reach consensus on behalf of the entire network, removing the need for every node to process every transaction.
- Shill (verb, noun)
the act of heavily promoting a cryptocurrency, stock, or other asset in an effort to increase adoption and, in turn, raise its price. This is usually done via spamming on social media, and generally carries a negative connotation. A person who performs the act of shilling may also be referred to as a shill.
“I’ve been shilling this new dog coin on Twitter all month, wen Lambo?!”
- Shitcoin (noun)
a cryptocurrency with weak fundamentals and little to no use case.
- Sidechain (noun)
a parallel blockchain used to offload transactions from the main chain in order to increase scalability or add other functionality. Sidechains are connected to their main chain, or parent chain, via a two-way link which allows data and assets to be seamlessly transferred.
i.e. Matic, Dai
- Slashing (verb)
the process of burning or redistributing a validator’s staked cryptocurrency as punishment for approving fraudulent charges or otherwise endangering the network.
- Slippage (noun, adjective)
the price of a cryptocurrency may change between the time an order is placed and the time that order is ultimately filled. Slippage is the difference between a cryptocurrency’s quoted price and the price that a trade actually executes at.
- Smart Contract (noun)
self-executing code deployed on a blockchain. Smart contracts allow transactions to be made without an intermediary figure and without the parties involved having to trust one another.
- Soft Fork (noun, verb)
a backwards compatible update to a blockchain. Unlike a hard fork, these changes do not require the creation of a separate chain.
See also: fork, hard fork
- Solidity (noun)
the native programming language of Ethereum, mainly used to write smart contracts.
- Stablecoin (noun)
a token with its value pegged to another asset. Stablecoins are usually backed by a fiat currency, like the US dollar, but can also be pegged to physical assets like precious metals, or even other cryptocurrencies like Bitcoin.
i.e. USDT, Dai, USDC
- Testnet (noun)
a software environment that mimics a mainnet blockchain, used to test network upgrades and smart contracts before deploying them to the mainnet.
- TLD- Top Level Domain (noun)
the last segment of a domain name, or the part that follows immediately after the “dot” symbol.
i.e. .crypto, .nft, .x
- Token (noun)
unlike a coin, a token is a digital asset created on an existing blockchain. Tokens can be used to represent digital and physical assets, or used to interact with dapps.
i.e. LINK, UNI, AAVE
- TPS- Transactions per second (noun)
the number of transactions that a blockchain can handle per second, used as a benchmark to measure its computational power.
- Transaction (noun)
data written to a blockchain. New transactions are verified by nodes on the network and then broadcasted to other nodes. Once enough nodes have verified the transaction, it is considered valid and added to a block.
- TVL- Total Value Locked (noun)
a measure of the assets locked into an dapp’s smart contract, usually expressed in USD.
- Txn Hash (noun)
short for transaction hash, or transaction ID. This is a unique identifier used to represent a specific transaction, written as a long string of letters and numbers. By pasting a txn hash into a block explorer like Etherscan, you can find the details of the transaction it represents.
See also: hashing, SHA-256
- Ultrasound Money
- a rebuttal against the argument that Bitcoin is “sound money” or the “hardest form of currency” by saying that Ethereum post-EIP 1559 and post-ETH2 merge will be more sound than Bitcoin.
- Up Only
- a tongue-in-cheek saying, implying that a cryptocurrency or other asset can only increase in value. This is used to voice one’s bullish stance on an asset, although it may also be used sarcastically.
- Vaporware (noun)
a product or project that is announced and marketed but never actually materializes.
“We’re All Gonna Make It,” a common saying in crypto and trading circles signaling camaraderie and a positive outlook.
See also: GMI, NGMI
- Wallet (noun)
a software application or hardware device used to store the private keys to blockchain assets and accounts. Unlike a traditional wallet, a blockchain wallet does not actually store the coins or tokens themselves. Instead, they store the private key that proves ownership of a given digital asset.
i.e. Metamask, Coinbase Wallet, Ledger, Trezor
- Wallet Address (noun)
also known as a public key, this is an alphanumeric code that serves as the address for a blockchain wallet, similar to a bank account number. Other users can send digital assets to your wallet via your public key, but only you can access your wallet’s contents by using the corresponding private key.
- Web1 (noun, adjective)
the first iteration of the web, commonly referred to as the “read-only web.” Web1 was characterized by static websites that displayed information. There was little to no user interaction or user-generated content.
- Web2 (noun, adjective)
starting in the 90s, the “read-write web” is characterized by user-generated content and improved user interfaces. This led to the creation of blogs and social media platforms, as well as sites like Wikipedia and YouTube. Web2 placed more emphasis on user experience and interoperability between different applications and websites, giving us the vast network of connected websites and resources that we are familiar with today.
- Web3 (noun, adjective)
the next iteration of the web being ushered in as we speak, which leverages blockchain technology, open-source applications, and the decentralization of data and information. Web3 aims to remove control of the web from monopolistic tech companies, and return ownership of data and content to its users. Also referred to as the “read-write-trust web.”
- Wei (noun)
the smallest denomination of ether, named after cypherpunk and cryptocurrency pioneer, Wei Dai. 10^18 gwei = 1 ether.
- YOLO- You Only Live Once
investing too much money into a single asset; making a generally risky bet.
- 51% Attack (noun)#
an attack in which a single entity or organization gains control of over half of the nodes or mining power on a network. This then allows the entity to disrupt the network by excluding certain transactions, double spending cryptocurrency, and performing other malicious acts.
What can you do on Web 3?
Web 3 makes the proliferation of cooperative governance structures for once-centralized products possible. Anything at all can be tokenized, whether it’s a meme, a piece of art, a person’s social media output or tickets to Gary Vee’s conferences.
A great example of the paradigm shift is in the gaming industry. Gamers grumble endlessly about the bugs that developers leave in their favourite video game, or how the latest patch has upset the balance of their favourite weapon. With Web 3, gamers can invest in the game itself and vote on how things should be run. Large Web 2 companies, like Meta and Ubisoft, are creating virtual worlds powered in part by Web 3. Non-fungible tokens (NFT) will also play a huge role in reshaping the gaming industry by allowing players to become the immutable owners of the items they accrue.
What is an NFT domain?
TLDR; NFT domains are domains that live on a public blockchain and give users complete ownership of their stored data. The main benefits to owning one are simplifying crypto transactions by replacing wallet addresses with the domain name and easily creating and hosting websites on web3.
If you haven’t heard yet, NFT domains are the newest kids on the block(chain) and they have the power to change what we know of as the internet today. But before we dive into all that goodness, let’s take a step back to run through what traditional domains are and define NFTs — that way, you can truly understand the superpowers behind NFT domains.
Typically, you interact with a traditional domain when you type the address (like Twitter.com) into your browser. But did you know traditional domains were originally built to do so much more on the internet? Think of functionalities like email and payments. Hard to believe, right?
But as we can see, traditional domains haven’t progressed much beyond displaying websites. This might be because traditional domains have been controlled by centralized servers since the internet was created. This made it much more difficult for developers to innovate on top of that technology.
Luckily for us, the tech that powers NFT domains (a.k.a. blockchains) opens up a whole new realm of possibilities for us on the web!
FTX customers around the world have assets frozen on the cryptocurrency exchange after its sudden collapse last week, apparently to the tune of billions of dollars’ worth in total. And it’s not just cryptocurrency or DeFi tokens either—some users have NFTs stuck in FTX, too. Discord servers tied to projects that launched via the FTX NFTs platform over the last year are now filling up with complaints from users who cannot withdraw their Solana-based assets from the FTX account wallet. Links to many of the projects launched through the FTX NFTs marketplace are likewise now broken. FTX announced on Friday that it had filed for Chapter 11 bankruptcy protection. #Web3GrandPappa #ZentaNews
Grayscale cites security concerns for withholding on-chain proof of reserves
Grayscale shared a letter from Coinbase Custody attesting that each of Grayscale’s crypto products is fully backed, but stopped short of providing the wallet addresses
Cryptocurrency investment product provider Grayscale Investments has refused to provide on-chain proof of reserves or wallet addresses to show the underlying assets of its digital currency products citing “security concerns.”
In a Nov. 18 Twitter thread addressing investor concerns, Grayscale laid out information regarding the security and storage of its crypto holdings and said all crypto underlying its investment products are stored with Coinbase’s custody service, stopping short of revealing the wallet addresses. https://cointelegraph.com/news/grayscale-cites-security-concerns-for-withholding-on-chain-proof-of-reserves
According to the regulator, the directive was aimed at “safekeeping” the assets and “was necessary to protect the interests of clients and creditors” of the bankrupt exchange.
FTX court filing reveals the firm sent assets to Bahamas authorities
A Nov. 17 court filing from FTX revealed that it has recorded and verified text evidence that the Bahamas regulators directed the unauthorized access and withdrawal from the bankrupt exchange.
According to the filing, former CEO Sam Bankman-Fried and CTO Gary Wang were behind the Nov. 13 events. The exchange said the assets were “custodied on FireBlocks under control of Bahamian gov’t.” https://cryptoslate.com/bahamas-ordered-ftx-to-send-digital-assets-under-its-control/
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After FTX crushed, the crypto market revealed a liquidity problem. Regulators are turning their eyes to the overflow of liquidity from many major crypto exchanges to stabilize their reputation on the eve of reporting periods.
This turbulence leads to game-changing strategies and offers, and big market players start considering new sources of investments and even changes of beneficiaries. Experienced investors are taking advantage of this. Today we discovered the noteworthy proposal of $200M investments into a global crypto exchange from the European crypto millionaire and founder of two short video platforms – Cheelee and NUTSon.
This way Roman Alekseev intends to “diversify his crypto market presence and create a new comfort and secure zone for storing and managing digital assets of a multi-million audience that has absolutely no confidence in any crypto exchange now”.
Blockchain and decentralized finance (DeFi) focused security platform Certik’s investigation led to the discovery of the professional “KYC actors” who bypass KYC processes to scam crypto communities, according to a Nov. 17 Certik blog post. A KYC actor is defined as an individual who rogue developers hire to spoof the KYC process on crypto projects. Certik uncovered tactics used to carry out hacks and exit scams from an interview with a KYC actor and through probing into activities taking place in over 20 over-the-counter (OTC) underground markets, mainly concentrated on Telegram, Discord, low-requirement phone-based applications, and job advertisements. Certik found that of 4,000 to 300,000 KYC actors based in South-East Asia.https://cryptoslate.com/certik-investigates-kyc-actors-hired-to-scam-the-web3-community/
One of the ASEAN nations with the fastest growing economies has real-time cross-border payments available thanks to Ripple partner Tranglo. The business had previously said its end-of-August expansion will be into the UAE and the opening of a payment corridor there. Tranglo hopes to strengthen its position in the cross-border transfer market by introducing new and pertinent tech. Tranglo sees opportunities not just in Malaysia but also the Asia-Pacific region https://u.today/ripple-partner-tranglo-expands-in-asias-most-developing-country
Binance sent answers to questions from the UK’s parliamentary committee investigating the downfall of FTX following a hearing on Monday, including on its role in the collapse of FTX. FTX was a major competitor of Binance’s prior to its failure and subsequent bankruptcy. UK lawmakers are not convinced by the evidence Binance provided to understand its role in the collapse of FTX, according to a member of Parliament. In response to the question of what role it played in FTX’s collapse, Binance shared a series of news articles since the catalytic leak incriminating FTX for mishandling its funds on Nov. 2. The Treasury Committee reportedly expected to review Binance’s internal records.
The new browser extension lets users store, send and receive crypto across all EVM chains and Solana.
Following the collapse of FTX and the bank run on crypto exchanges in general, self-custody Trust Wallet is gaining momentum. In one week, the company launched the long-anticipated browser extension and collaborated with Binance Pay and Coinbase Pay, whose users can now transfer their funds directly to a Trust Wallet account.
On Nov. 14, Trust Wallet launched its browser extension, now available in Google Chrome and Opera browsers. The extension lets users store, send and receive crypto across all EVM chains and Solana. A network auto-detect function provides users with a seamless dApp experience without the need to manually add networks.
The extension also includes multi-wallet support, NFT support, fiat on-ramp providers, and non-EVM blockchain integrations, as well as hardware wallet support.
On Nov. 16, the world’s biggest crypto exchange, Binance, reported the launch of Binance Pay’s Trust Wallet integration. Now, Binance users won’t have to scan or input a wallet address, having their Trust Wallet among the direct withdrawal options. And it won’t cost anything above the blockchain gas fees. By press time, the function is supported solely on Trust Wallet App’s Android version, but Binance announces the iOS version “soon.”
The same integration will work with Coinbase Pay. According to Bipul Sinha, Group Product Manager at Coinbase, an ability for users to easily fund their self-custody wallet or dapps corresponds with the company’s mission to “build a bridge to Web3.”
Earlier, Binance CEO Changpeng Zhao publicly endorsed Trust Wallet, stating that “self-custody is a fundamental human right.” The move comes as no surprise, given that Binance owns the U.S.-founded wallet provider since 2018.
By Nov. 15, Trust Wallet Token (TWT) has surged by nearly 150% in six days, bucking the downturn in the cryptocurrency market, whose net capitalization has crashed by almost $100 billion in the same period. Meanwhile, the token’s trading volume has soared from 279 million TWT to 593.25 TWT in the same period, showcasing the market’s conviction in its uptrend.
Two crypto-unfriendly Democratic senators have sent a letter to the executives with a list of detailed and penetrating questions about the behavior of Bankman-Fried and his businesses.
United States Senators Elizabeth Warren and Richard Durbin wrote to the former and current CEOs of FTX — Sam Bankman-Fried and John Jay Ray III, respectively — on Nov. 16 to ask for more information on the collapse of the cryptocurrency exchange. They made 13 requests for documents, lists and answers.
“The public is owed a complete and transparent accounting of the business practices and financial activities leading up to and following FTX’s collapse,” the lawmakers wrote. They provided a summary of the major press coverage of the unfolding events and reconstructed a timeline from the media sources. Noting “the apparent lack of due diligence by venture capital and other big investment funds eager to get rich off crypto” among the issues they identified, they wrote:
“These developments justify our long-standing concerns that the crypto industry ‘is built to favor scammers’ and ‘designed to reward insiders and to defraud mom-and-pop investors.’”
Sam Bankman-Fried a.k.a SBF, the former CEO of FTX, acquired a $1 billion personal loan from Alameda Research, one of the four silo firms that played a significant role in the demise of the FTX crypto exchange.
New FTX CEO Spits Facts In Latest Court Filing
John Ray III, the new CEO of FTX, made a formal declaration in the continuing Chapter 11 bankruptcy papers that showed additional financial embezzlement by Bankman Fried. According to the filing, Nishad Singh, Director of Engineering of FTX, also received a $543 million loan from Alameda Research.
A Step-by-Step Guide to the DEX Aggregator
How do you pick the best exchange rate for cryptocurrencies? On centralized exchanges (CEXs), the difference is often minimal because CEXes tend to have deep liquidity. But on decentralized exchanges (DEXs), which rely on network participants and fees, the exchange rate is meaningful.
This is where a DEX aggregator like 1inch comes in. The exchange draws swap rates from other DEXs to find both the optimal price and the lowest fees.
1inch Origin and Purpose
Sergej Kunz and Anton Bukov came up with the concept of smart contract aggregation during the ETHGlobal hackathon in May 2019. Bukov had software development experience in NEAR Protocol, while Kunz worked for Mimacom, a cybersecurity consultancy.
Kunz developed a text message aggregator that allowed users to see the best rates for sending text messages. This led to his employment at the Herzog communication and marketing agency, having developed a product price aggregator. Following his full employment at Porsche, Kunz became an Ethereum miner all the way up to 2018 when he launched.
1inch made the cheapest gas in DeFi with 1inch Router v5
1inch Network has released an updated version of 1inch Router v5 – one of the main components of the project. The new version makes the exchange of 1inch users on the Ethereum network even more profitable. In 1inch Router v5, swaps will be about 5% more efficient than the previous version and 10% more efficient than the second-best performer in the DEX segment.
For example: 50 ETH swap into USDC through a Balancer pool was 6% more efficient than with v4, 14% more efficient than with the DEX segment’s second best performing player and 26% more efficient than other offerings. In addition, the new version of the router has the highest level of security: it has been thoroughly audited by almost a dozen of the industry’s most reputed projects, including Consensys, OpenZeppelin and ABDK Consulting. The results of the audits can be viewed
The new solution is designed to enable sports organisations to easily create new metaverse experiences by simply embedding existing web-based applications into a metaverse environment. As a modular solution, rights holders and broadcasters can choose only the add-ons they require. The new solution also builds on Accedo’s immersive experience to bring sports to the metaverse. Powered by Amazon Web Services (AWS), the software is designed to enables remote configuration and customisation. Video hosting, encoding and streaming is all managed using AWS Media Services, enabling sports organisations to create high quality XR content.
The Australian government has doubled down on its commitment towards a robust regulatory framework for crypto following the catastrophic collapse of FTX last week.
A spokesperson for Australian Treasurer Jim Chalmers said the Treasury said it is now planning on regulations to improve investor protection next year, according to a Nov. 16 report from the AFR.
The spokesperson made the announcement in light of the FTX’s fall last week, stating that it was closely monitoring the fallout from the FTX collapse, “including further volatility in crypto-asset markets and any spillovers into financial markets more broadly,” adding:https://cointelegraph.com/news/aussie-treasurer-promises-crypto-regulation-next-year-amid-ftx-debacle
The Seoul Southern District Prosecutors’ Office raided Chai Corporation, a payments technology company founded by Terraform Labs cofounder Daniel Shin (Shin Hyun-seung), according to a report from Forkast. Earlier this week, it also summoned Shin as part of an investigation into whether he breached capital markets law.
Terra’s won-pegged stablecoin KRT into its payment service, Forkast said. Prosecutors allege that the company used customers’ personal information in launching the service, without consent. Shin has attempted to distance himself from Terraform Labs and claimed that he cut ties with both in 2020 to focus on Chai Corporation, which has been operating independently from Terra since Q1 2020, according to the company. He was also due to testify in parliament on Oct. 6 but pulled out the day before.https://www.theblock.co/post/187469/south-korean-authorities-raid-terraform-labs-co-founders-company-forkast
Blockchain.com is adding a banking expert to its board of directors, Joseph Otting, the former U.S. Comptroller of the Currency, the company said in a blog post. “I’m honored to join the board of Blockchain.com and help it navigate the regulatory landscape as one of the most established firms in its space,” Otting said in a statement.
Otting served as comptroller during the Trump administration, from 2017 to 2020. The comptroller oversees federally chartered banks, savings associations and federal branches of foreign banks that operate in the United States. Otting previously worked in the banking industry, serving as president of CIT Bank and OneWest Bank. Otting has also held roles at U.S. Bancorp, Union Bank of California and Bank of America. Obama-era White House deputy chief of staff, and former American Airlines CEO Tom Horton.https://www.theblock.co/post/186956/former-comptroller-otting-joins-blockchain-com-board
Binance has secured permission from regulators in Abu Dhabi to operate as a crypto custodian for institutional clients. The crypto exchange received the regulatory nod from Abu Dhabi’s Financial Services Regulatory Authority. This body is a unit of the Abu Dhabi Global Market, which functions as the financial center of the United Arab Emirate’s capital city.
Binance previously received in-principle approval from Abu Dhabi authorities to operate as a crypto broker-dealer. Wednesday’s regulatory nod expands the company’s presence in the UAE and the Persian Gulf at large. The exchange giant also has license approval from regulators in Dubai, UAE’s commercial capital. Binance’s operations in the UAE and the Persian Gulf are under a subsidiary called Binance AD. Dominic Longman, senior executive officer at Binance AD. https://www.theblock.co/post/187467/binance-gets-regulatory-nod-for-institutional-crypto-custody-in-abu-dhabi
Genesis Global Capital, the lending business of Genesis Trading, temporarily suspended redemptions and new loan originations in the wake of FTX’s recent collapse and the earlier Three Arrows Capital implosion, kicking off another wave of reactions from crypto players with which it did business.
The parent company last week gave its Genesis Trading unit a $140 million equity infusion after it said its derivatives business had $175 million locked up on the FTX platform. The trading unit said last week that its operating capital and net positions in FTX were not material to its business. Genesis will continue to offer over-the-counter trading for spot and derivatives trading, plus its custody services. https://www.theblock.co/post/187545/genesis-global-capital-suspends-redemptions-with-impact-spreading-to-gemini
The TRON team was present at ETH San Francisco (ETHSF), a gathering of developers building on Ethereum and the blockchains that bridge it. The TRON team taught in several breakouts and held a meetup luncheon. The developers who attended the TRON Developer Meetup.
TRON Grand Hackathon 2022 (#HackaTRON) features the new track “Ecosystem.” This track’s purpose is to attract existing Ethereum developers to TRON, encouraging them to consider expanding their reach by leveraging the BitTorrent Chain (BTTC) cross-chain bridge solution. The BTTC Bridge allows developers to move data over from Ethereum and easily build projects on TRON.#web3grandpappa #togrp7
Binance CEO Changpeng “CZ” Zhao said he wants to set up an association of the largest crypto players to help work with policymakers and regulators worldwide. “The association will try to maintain communication with regulators and also maintain best practices in the industry, including proof of reserves, transparency,” Zhao sai
English soccer giants Manchester United have launched their first ever official non-fungible token (NFT) collection, with the first drop of digital collectibles being given away to fans for free. The Premier League outfit says it wants to create a Web 3.0 community that will ‘educate, reward, and unite’ their global fanbase through digital and real-world experiences. The club describes NFTs as a new form of digital memorabilia and an opportunity for supporters to ‘own’ a part of the club’s history, while receiving rewards tied to ownership of their token. The digital collectibles are based on official training kit partner Tezos’ blockchain platform, wit h future collections inspired by the club’s history made available for purchase later this season.https://www.sportspromedia.com/news/man-utd-manchester-united-tezos-nft-collectibles/
Changpeng “CZ” Zhao, CEO of Binance, stated that he wants to create an organization of the biggest cryptocurrency companies to assist in collaborating with international policymakers and regulators. Zhao stated that a third party that has done this many times for different industries would be in charge of the association rather than Binance. The CEO of Binance claimed that numerous regulators had asked him to establish such an association.https://www.theblock.co/post/186789/cz-plans-industry-association-to-communicate-with-regulators-worldwide?utm_source=cryptopanic&%3Butm_medium=rss
The biggest crypto conference in Latin America, LaBitConf 2022, kicked off Friday. The mood was bright and shiny in Buenos Aires, Argentina, where Bitcoiners flooded into “The Paris of the South” to express their stimulant-charged adoption exhortations to anyone who will listen. But one dark topic overshadowed the event: FTX.
The fall of one of the world’s biggest digital asset exchanges and its CEO had everyone talking from the moment the event kicked off. By the time the big speakers hit the main stage on Saturday, there was even a rumor spreading on Twitter that former billionaire Sam Bankman-Fried had fled from his base in the Bahamas to Argentina on a private plane. (It later turned out to be nonsense.) https://decrypt.co/114338/labitconf-ftx-crisis-hottest-topic-bitcoin-conference-latin-america
El Salvador’s President Nayib Bukele took to Twitter to proclaim the Bitcoin protocol as the opposite of FTX and likened FTX to a Ponzi scheme in the wake of the exchange’s collapse on Nov. 14.
Bukele, a staunch promoter and believer of Bitcoin, said the flagship crypto was designed to prevent Ponzi schemes, bank runs, and fraud committed by institutions in the financial system.
Examples cited by the President include Enron’s abuse of accounting practices to inflate the company’s revenues and conceal debt in its subsidiaries in 2021, American fraudster Bernie Madoff’s $64.8 billion Ponzi scheme in 2019, and most recently, Sam Bankman-Fried (SBF) secretly transferring customers’ funds to Alameda Research.
The Bitcoin blockchain is an open-source protocol, upon which any transaction can be verified by the public, as opposed to a Ponzi scheme, where investment funds are shrouded in secrecy.https://cryptoslate.com/president-of-el-salvador-says-ftx-is-the-opposite-of-bitcoin/
Crypto Contagion Spreads After FTX Collapse
BlockFi Inc. is now said to be in preparation for filing bankruptcy, as per the latest reports. The potential Chapter 11 filing by the ailing crypto lender comes soon after it temporarily halted client withdrawals last week owing to a “lack of clarity” over Sam Bankman-Fried’s FTX empire at the time. https://dorkye.com/breaking-blockfi-preps-for-potential-bankruptcy-after-ftx-collapse/?ch=cryto
Sports brand Nike already is one of the most successful brands in web3. Now, it’s going to promote virtual shoes and other items on its own platform. Currently in beta but expected to launch its first digital collection next year, .Swoosh (pronounced “dot swoosh”) will let Nike fans to collect and even co-create virtual items with the company. Nike has earned a total of $185 million in NFT revenue, according to data published on Dune Analytics. Of that, $93 million came from primary sales revenue and $92 million from royalties. It launched an experience in November 2021 on the ever more brand-crowded gaming platform Roblox, attracting more than 26 million visits to date. The following month it acquired NFT studio RTFKT and has been pumping out collections ever since. https://www.theblock.co/post/186733/nike-to-debut-its-own-platform-for-web3-wearables
Following the effects of the FTX exchange’s crisis, the crypto market remains down, but, crypto projects like Cardano (ADA) are still seeing growing network activity as investors don’t seem to be concerned about the state of the market. Cardano has seen a surge in wallet additions of 33,097 in a single week. The number was 3,671,522 as of November 13 while on November 7, there were 3,638,425 wallets on the platform https://finbold.com/cardano-wallets-growth-accelerate-adding-30000-in-a-week-amid-ftx-collapse/
Nike today announced the launch of .Swoosh, a new metaverse marketplace platform meant to foster a “inclusive digital community” for athletes and Nike consumers. The blockchain-powered platform will allow users to connect with other athletes and consumers, obtain virtual products and engage in immersive experiences. The news marks Nike’s latest investment in the web3 and the metaverse. In December 2021, Nike Inc. acquired RTFKT, a digital creator of virtual sneakers, collectibles and accessories. Before that, Nike filed seven trademark applications related to its goal to create and sell virtual sneakers and apparel. In the wake of the deal, Stifel analysts said the acquisition had “strategic value”. https://footwearnews.com/2022/business/retail/nike-launches-metaverse-experience-swoosh-1203369168/
MicroStrategy Inc, the largest corporate holder of Bitcoin, is reportedly sitting on $1.8 billion in unrealized losses from its purchases. The Bitcoins were bought at an aggregate price of almost $4 billion, with each Bitcoin costing around $30,369. This now places the company $1.8 billion in the red.
Executive chairman Michael Saylor had previously said the company would never sell its Bitcoin. The refusal to sell means that the company sits on substantial paper losses. Additionally, the company recorded a $917.8 million impairment charge after it reported losses related to the decline in the price of Bitcoin earlier this year. If it chooses to sell its Bitcoin, it must report capital gains tax to the Internal Revenue Service. https://beincrypto.com/microstrategy-reportedly-loses-1-8-billion-as-crypto-prices-plummet/
Karntaka minister Ashwath Narayan on Sunday said the new theme park near the Kempegowda statue, which will have a metaverse experience for the tourists visiting the place. Responding to a Twitter user’s query on the government’s efforts to boost tourism like the one undertaken by Gujarat through the Statue of Unity. The minister shared the blueprint of the theme park, which he said will attract tourists at the airport. On Friday, Prime Minister Narendra Modi unveiled the the statue of Kempegowda, the ruler who is known as the fortifier of Bengaluru. The statue is also being known as the ‘Statue of Prosperity’. The prime minister had also unveiled the latest terminal 2 at the Kempegowda International Airport.
Binance CEO Changpeng Zhao clarified that the project is for other potentially strong projects and not FTX, saying that “liars or fraud” would never qualify.
As the effects of the FTX crisis continue to affect the markets negatively, crypto exchange Binance is creating a fund to help potentially strong projects that are having liquidity issues.
In a tweet, Binance CEO Changpeng Zhao said that the fund aims to reduce the cascading negative effects of the collapse of FTX by helping projects that the Binance CEO described as “strong, but in a liquidity crisis.” https://cointelegraph.com/news/binance-creates-industry-recovery-fund-to-help-projects-struggling-with-liquidity
Robert Kiyosaki, the author of Rich Dad Poor Dad, said he is unconcerned with the price of bitcoin despite the fact that BTC dropped below $17K amid the collapse of cryptocurrency exchange FTX. He stated that in addition to betting on gold, silver, and bitcoin, he also wagers against the Federal Reserve, the Treasury, and Vice President Joe Biden, recommending people to invest in crypto now, before the largest economic crisis occurs, in September https://news.bitcoin.com/robert-kiyosaki-im-a-bitcoin-investor-when-btc-hits-new-bottom-i-get-excited/
The largest payments processor in the world, Visa, has terminated its agreement with FTX following the FTX bankruptcy.
The companies planned to issue account-linked Visa debit cards to 40 countries and more.
Ambitious plans for a dying company.
Now-bankrupt crypto exchange FTX Group went on a real estate splurge this year, according to government documents obtained by The Block and confirmed by two former FTX employees. The bulk of that money, $67,440,193.99, went to entities surrounding Albany Bahamas, a luxury condo resort in New Providence.
FTX is known for its unique communal setup in the Bahamas, where teammates at the firm and other companies with ties to FTX work and live side by side. The Caribbean luxury oasis is striking, considering Bankman-Fried’s commitment to effective altruism and much-promoted indifference to the trappings of wealth. For reference, the Bahamian dollar is pegged to and maintains parity with the U.S. dollar. https://www.theblock.co/post/186386/ftx-spent-74-million-on-real-estate-in-the-bahamas-this-year-exclusive
Founded in 1867, Morehouse College has been a staple in the Black community. As the only HBCU to exclusively serve Black men, the school is known for its academic prowess, notable alumni, and community impact. The Atlanta-based institution is now taking its historic impact.
According to Atlanta’s WSB-TV, Morehouse College is the first college or university to offer classes in the metaverseStudents interested in the virtual program step into their classroom by putting on a headset and immediately engaging in learning.“The metaverse is what I call the world’s greatest playground. But besides that, what it really is, is the next iteration of the web said Muhsinah Morris, Ph.D., virtual reality program. https://news.yahoo.com/morehouse-college-makes-history-first-181959703.html
Huobi disclosed balance details of its hot and cold wallets, revealing a total value of about $3.5 billion. The Seychelles-based crypto exchange said it holds 32,000 bitcoins, 274,000 ether, 820 million tether and 9.7 billion tronix. Huobi’s report follows the high-profile collapse of crypto exchange FTX. Huobie — which was acquired by About Capital last month — said it is planning a Merkle tree audit to prove its reserves within the next 30 days. “It is also our promise and commitment that users’ assets shall be protected intact, not appropriated, and fully redeemable and withdrawable,” it added. On Friday, crypto exchange Bitfinex also published details of its reserves — which included $3.4 billion in bitcoin and $1.5 billion in ether.
Wrapped tokens on Solana issued by FTX or Alameda Research are experiencing sharp declines after both entities filed for Chapter 11 bankruptcy protection.Wrapped ether on Sollet is only down 9% to $1,138 over the same time frame. Native ether is trading at $1,255. CoinGecko is displaying the same warning for soETH as for soBTC. Wrapping coins, such as bitcoin or ether, on Solana makes those assets available to use on the Solana blockchain — opening them up to usage in Solana’s decentralized finance ecosystem. Many Solana-wrapped assets were custodied by FTX or Alameda, according to open-source portfolio tracker Rotkiapp’s founder on Twitter, which added: “That means they are no longer redeemable and will probably go to 0.”.
Kryptomon, a Web 3.0 gaming startup that produces the live NFT-based metaverse game with play-and-earn gaming principles, has teamed up with Unstoppable Domains, the premier distributor of Web 3.0 domains. The relationship comprises unique cooperation between the two businesses. Kryptomon NFT holder will earn an additional $50 towards Unstoppable Domains to safeguard their Web 3.0 identity. Sandy Carter, SVP and channel head of Unstoppable Domains, stated, “Web 3.0 domains provide gamers with an unique identifier that they can utilize to display their accomplishments, get rewards, and much more. We’re thrilled to partner with Kryptomon to provide gamers with new Web 3.0 opportunities.
Apple is looking for a software producer to create VR content. Further, it wants to build a video service for playing back 3D content in VR. Another posting points to Apple’s AR headset taking advantage of App Intents to work with Siri, Shortcuts, and Search. Interestingly, one job posting talks about creating a 3D mixed-reality world. The latest Power On newsletter highlights the position’s requirements to “build tools and frameworks to enable connected experiences in a 3D mixed-reality world.”. In early January 2022, a report claimed that Apple was not interested in building a complete virtual world for its AR headset. So, while the company might build a 3D mixed-reality world, its approach could be different from that of the metaverse. https://www.cultofmac.com/796947/apple-building-rival-metaverse/
The NFT vending machine’s first outing saw 390 NFT’s sold over the two days (one NFT sold every two minutes), raising £3,900 for charity Giveth, who fund public goods and services and education in developing nations, and Roald Dahl’s Marvellous Children’s Charity, who provide specialist nurses to seriously ill children. To buy an NFT through myNFT’s vending machine, customers simply had to select one of the envelopes on display, then key in the code provided. After paying £10 via Apple Pay, Google Pay or an alternative contactless payment method, they received a card with a QR code. Once they’d set this up, complete with an NFT wallet, they received their NFT that could be worth up to £1,000. my NFT’s first NFT collection included an assortment of iconic NFTs.https://thefintechtimes.com/nft-vending-machine-lands-in-europe-raising-3900-for-charity/
Europe’s largest digital asset investment and trading group – CoinShares – revealed that approximately 11% of its total net asset value is situated on the crypto exchange FTX. Another firm experiencing similar issues is Mike Novogratz’s Galaxy Digital, which holds more than $76 million worth of exposure to the troubled firm.
The company’s CEO – Jean-Marie Mognetti – stated the assets were part of the capital markets division and accounted for proprietary trading operations. The boss added that potential losses had not affected CoinShares’ exchange-traded funds. The organization also has no exposure to FTX’s sister company Alameda Research. The problems for SBF’s trading venue started a few days ago when Binance decided to liquidate all its FTT tokens. https://cryptopotato.com/coinshares-reports-over-30-million-worth-of-crypto-stuck-on-ftx/
The Securities Commission of The Bahamas (SCB) has denied instructing or authorizing crypto exchange FTX to prioritize withdrawals of Bahamian clients.
In a statement on Nov. 12, the securities commission vehemently denied the contents of a Nov. 11 statement from FTX on Twitter that suggested it had been instructed by “Bahamian HQ’s regulation and regulators” to facilitate the withdrawal of Bahamian funds.
“The Commission wishes to advise that it has not directed, authorized or suggested to FTX Digital Markets, Ltd. the prioritization of withdrawals for Bahamian clients,” read the statement, which was shared on the SCB’s Twitter page. https://cointelegraph.com/news/regulator-denies-asking-ftx-to-prioritize-withdrawals-for-bahamian-clients
Major venture capital firm Sequoia Capital has written down the value of its investment in the beleaguered crypto exchange FTX, to zero. Notably, the company was part of the investors who participated in FTX’s $900 million funding round in July 2021, which brought the exchange’s valuation to $18 billion at the time.
Sequoia invested $150 million in FTX and FTX.US via its Global Trust Fund III, noting that the investment accounted for only 3% of the total capital in the fund. The venture capital firm reassured LPs that the fund was in good financial condition as it has realized and unrealized gains of $7.5 billion. Sequoia further said it always conducted a thorough diligence process before investing and did the same for FTX. The company was part of 60 investors who raised $900 million in FTX’s Series B funding in July 2021. https://cryptopotato.com/sequoia-says-investment-in-ftx-does-not-negatively-impact-its-fund/
The current NFT creator royalties discussion continues to elicit differing opinions from members of the crypto community. Bored Yacht Club (BAYC) founders have entered the debate, proposing a balanced royalty model that empowers both creators and consumers.
- The BAYC founders want an NFT creator royalty model that keeps NFT transfers between wallets free. As per them, this will encourage creators to stay in the NFT ecosystem.
- The creators of Yuga Labs defended NFT creator royalties and criticized marketplaces that do reject them.
- They suggested an allowlist model that is community-run and gives creators control over which marketplaces can handle secondary sales of their NFTs.
In 2022, many businesses are now starting to benefit from the application of AI and metaverse technologies in providing streamlined training and onboarding for employees. Combining AI and metaverse technologies affords companies an incredible new opportunity to train and equip people with the necessary skills to navigate the future of work.
Indeed, the very nature of the future of work across a multitude of different sectors will be hugely impacted by new AI and metaverse technologies. It’s estimated that over 23 million jobs will be impacted by virtual reality (VR) and augmented reality (AR) by 2030, and that these technologies have the potential to deliver a £1.4 trillion boost to the global economy over the next eight years, according to recent PwC forecasts. https://betanews.com/2022/11/11/ai-and-metaverse-technologies-onboarding/
Dogecoin was one of the only crypto tokens to trade higher on Saturday, as comments from Elon Musk boosted prices. Speaking in a Twitter Spaces centered around the FTX collapse, Musk was heard saying: “Doge to the moon.” Solana on the other hand extended its declines, falling by over 15%.
Dogecoin (DOGE) was one of today’s only gainers, as the token was boosted by comments from Tesla and Twitter CEO Elon Musk. https://dorkye.com/biggest-movers-doge-surges-following-elon-musk-comments-on-the-meme-coin/?ch=cryto
User experience (UX) design affects nearly every waking moment of our lives. It’s not just digital either. Have you ever thought about the UX of doors? Perhaps a brief refresher of what UX is, will help. A useful definition of UX is as follows: ”A person’s perception and responses that result from the use or anticipated use of a product, system or service” (from The International Organization for Standardization).The following opinion editorial was written by Bitcoin.com’s head of product experience Alex Knight. Thankfully Norman doors are rare, as are their computer software and web2 counterparts. Unfortunately, web3, still in its infancy, is rife with Norman doors. Until we fix most of these proverbial doors, web3 mass adoption is unlikely. https://www.coindesk.com/business/2022/11/08/japan-mobile-phone-operator-ntt-docomo-to-invest-4b-into-web3/https:/news.bitcoin.com/web3-must-overcome-significant-ux-challenges-to-reach-mass-adoption/
The “backdoor” allowed Bankman-Fried to execute commands that could alter the company’s financial records without alerting other people, including external auditors. This set-up meant that the movement of the $10 billion in funds to Alameda did not trigger internal compliance or accounting red flags at FTX.https://www.reuters.com/markets/currencies/exclusive-least-1-billion-client-funds-missing-failed-crypto-firm-ftx-sources-2022-11-12/
PRESS RELEASE. FIFA has unveiled a portfolio of new future-focussed web 3.0 games to entertain and engage a wider group of fans ahead of FIFA World Cup Qatar 2022.
Gaming and esports are some of the fastest-growing opportunities for FIFA as it continues to expand into new digital spaces, platforms and games that are already welcoming football fans on to them.
With the communities growing organically, FIFA is expanding into new digital spaces – having earlier this year launched a landmark Roblox experience.
The new gaming integrations, all of which are designed with web 3.0 and the future of digital engagement in mind, are playable around the tournament and each have a unique twist on the globe’s biggest football tournament.
Metaverse definitions are widely disputed. So it’s not surprising that most of the world is confused. Is there just one digital world or are there many? Will the metaverse supplement the real world or will it be the physical world supplementing the digital one. Unfortunately, despite so many questions circulating about the metaverse, looking at the current landscape. At present, many projects are looking at metaverse hype, in general, as an opportunity to attract users into their online community with short-term incentives like money-making opportunities and flashy digital collectibles. Therefore, despite users needing to learn what the metaverse is and how it will benefit them, most are still joining these projects out of curiosity.
DFX Finance, a decentralized exchange protocol for fiat-pegged stablecoins, reported that it was attacked at 2:21 pm ET. An unknown attacker siphoned approximately $7.5 million from DFX, according to estimates from security researchers at BlockSec.
The DFX Finance team acknowledged the security exploit and said it has paused all of its smart contracts to contain the issue. “We were notified of the suspicious activity within 20-30 mins of the first transaction and executed a pause on all DFX contracts within a few minutes after confirming the attack,” it said. The remaining portion of the stolen assets — about $3.2 million — was extracted by an MEV bot in a front-running transaction, also called a sandwich attack. https://www.theblock.co/post/185796/polychain-dfx-finance-hacked
The9 Limited (Nasdaq: NCTY) (“The9”), an established internet company, has newly announced that its NFT community NFTSTAR is releasing the next drop of exclusive NFTs in collaboration with professional Brazilian international footballer Neymar da Silva Santos Júnior. The collaboration so far has been a huge success, with the first drop of Beastmode Metaverse, named ‘JungleVIBES’, hitting over 60,000 freemints worldwide and reaching a large portion of Neymar Jr.’s constantly growing fanbase. Beastmode Metaverse is excited to release its next special edition drop for the biggest fans of Neymar Jr. and the project, titled ‘Beastmode Metaverse x Neymar Jr.: Episode 01 – HUMAN’.
Metaverse Land has become a prominent integration method for many traditional companies into the metaverse. With how new of a concept the metaverse is and how much risk has been associated with it, it comes as no surprise that many are sceptical on this recent marketing trend. A total of $1.93 billion has been spent on virtual land according to DappRadar, the top reporter on all things blockchain and web3 related. Metaverse Land has opened many doors for brands to have their say on the blockchain. Thanks to The Sandbox we have seen brands like Gucci, Adidas, Gordon Ramsay and Slipknot develop their own experiences which have brought forward new ways to play and earn with NFT collectibles.
NTT Docomo, Japan’s largest mobile-phone network, pledged to invest up to 600 billion yen (US$4 billion) into Web3 infrastructure. The company will collaborate with Astar Foundation, the developer of the public blockchain Astar Network, and Accenture to speed up Web3 adoption, according to a statement provided to CoinDesk. They will set up a consortium that allows individuals and corporations to utilize tokens for governance. “Collaborating with NTT Docomo, a company that has created case studies that have been used by tens of millions of people, we will further spread Web3,” Astar Network founder Sota Watanabe said in the statement. https://www.coindesk.com/business/2022/11/08/japan-mobile-phone-operator-ntt-docomo-to-invest-4b-into-web3/
The Grayscale Bitcoin Trust (GBTC), which has been trading at a discount since the beginning of 2021, hit a record low on Wednesday. GBTC is currently trading at a discount of -40.7%, its lowest point ever, according to The Block’s data dashboard. The discount represents the market price of GBTC shares.
GBTC hit a previous all-time low on Sept. 26, when it reached -35.3%. The discount narrowed in September as crypto prices traded down. Crypto markets — and related equities — have been roiled this week by the public downfall of FTX. Sam Bankman-Fried’s exchange came under increasing pressure last week when a report from CoinDesk showed Alameda, Bankman-Fried’s trading shop, had $8 billion in liabilities — including $7.4 billion in loans.
The Tron DAO Reserve will purchase 1 billion USDT to fight short sellers after the tether, world’s biggest stablecoin, slipped below its peg to the U.S. dollar. Tether fell 1% below its peg to the dollar earlier today amid ongoing market tumult related to crypto exchange giant FTX. Tether was trading at $0.9908 at the time of writing, according to data via Coinbase.
Tron DAO’s buying might lead to a short squeeze, when traders that bet on a decline are forced to close their positions by buying back the underlying token. Tron deployed similar tactics in June following the TerraUSD de-peg and the ensuing market turmoil. Tether’s CTO, said earlier that Tether had processed $700 million worth of redemptions in the last 24 hours. https://www.theblock.co/post/185292/tron-dao-to-purchase-1-billion-usdt-to-fight-short-sellers
During the company’s third-quarter earnings call on Nov. 8, Marathon Digital CEO Fred Thiel revealed the company now holds 11,300 BTC, worth around $205 million at the time of writing, “making Marathon the second largest holder of Bitcoin among publicly traded companies worldwide, ” referring to unnamed third-party data. According to CoinGecko, the Nasdaq-listed crypto miner is ranked second only to MicroStrategy Inc., which holds nearly 130,000 BTC. It’s followed by crypto exchange Coinbase and Jack Dorsey-founded payments company Block Inc.
MachineFi Lab is releasing a new product, W3bstream, which aims to help the traditional world integrate blockchain technology. According to the press release, W3bstream is a blockchain-agnostic infrastructure tool aiming to disrupt the machine economy. It provides cutting-edge middleware that reduces development timelines and costs by half for builders, Web2 businesses, and smart device makers, allowing traditional businesses to integrate blockchains efficiently and spin up asset tracking, product tokenization, and verifiable transparency processes at the same time. IoTeX Network core developer MachineFi Lab announced today that it is releasing W3bstream, a decentralized infrastructure for real-world devices and data. https://cryptobriefing.com/machinefi-wants-to-connect-the-world-to-web3-through-w3bstream/
After being offline for more than 48 hours, the troubled cryptocurrency exchange FTX appears to have started processing withdrawals once more. Following its demise, Binance committed to purchasing FTX.com but then changed its mind and backed out of the transaction. Sam Bankman-Fried seems to be on the verge of collapse. However, according to the block explorer Etherscan, withdrawals started to leave the exchange once more around 11 a.m. ET https://www.theblock.co/post/185428/ftx-appears-to-be-processing-withdrawals-again-on-chain-data-show?utm_source=cryptopanic&%3Butm_medium=rss
According to the company, MetaMask is introducing a new feature that will allow users to track the value of their NFT portfolio. Wallet users will be able to see updated pricing information for over 5,000 NFT collections.
This feature is the result of a partnership between the crypto wallet and NFTBank, a tool that helps manage and value NFTs. The platform uses machine learning algorithms to estimate the prices of individual NFTs in the collection and then updates the information for its users.
North America accounts for the largest revenue share owing to the customers and users in the region that are adopting the new and more complex technology. The growing number of start-ups focusing on establishing metaverse platforms for commercialization is another factor projected. Asia Pacific region is expected to register a strong CAGR over the forecast period. A growing number of start-ups and organizations, such as The Sandbox (Hong Kong), Bolly Heroes (India), Axie Infinity (Singapore), NextMeet (India), GuildFi (Thailand), and miHoYo Co., Ltd. in China, are projected to drive market expansion in the Asia Pacific region. These metaverse platforms offer an immersive experience.
Private equity firm Thoma Bravo has led a $70 million Series B extension into TRM Labs, which provides risk management and compliance services for financial institutions, crypto companies and government agencies. Known for its bets on software, Thoma Bravo previously told The Block about its $100 billion allocated towards digital assets and has made investments in FalconX, Figment and Anchorage.
Along with Thoma Bravo, the equity deal — which closed in October — sees institutional players, such as Goldman Sachs and the venture arms of PayPal, Amex and Citi Group. The company declined to share its new valuation with The Block but said it brought on Thoma Bravo for its track record of taking companies to IPO. TRM’s core product line includes software that allows for the tracing of cryptocurrency transactions, risk assessment of other crypto businesses.https://www.theblock.co/post/184615/thoma-bravo-70-million-trm-labs
Solana Labs COO Raj Gokal weighed in on the FTX crisis that will see its non-U.S. assets sold to Binance, calling it a “crucible moment” for the Solana ecosystem that has close ties to the collapsing crypto exchange. “Binance seems to care about the ecosystem, but they have a lot of work on their hands,” he wrote on Twitter.
The price of Solana’s native coin SOL has plummeted over 40% to $16.58 over the last 24 hours, with the price of Solana ecosystem tokens like Serum also collapsing on the back of the FTX crisis. The global selloff of crypto assets triggered by news of FTX’s problems hit just as $1 billion of SOL is set to unstake in less than 24 hours. Representing 13% of the coin’s circulating supply, it’s the second-largest unstaking of SOL by validators.https://www.theblock.co/post/184839/solana-labs-coo-says-this-is-a-crucible-moment-for-the-solana-ecosystem
MUFG, the largest financial organization in Japan, is moving to enter the metaverse. In order to participate in ANA’s planned digital platform, the company established a cooperation with ANA Holdings, a group of businesses focused on air travel and transportation services. The platform is anticipated to launch with a 38 million user base, which corresponds to the company’s mileage members. In 2023, the ANA Granwhale metaverse platform is expected to be operational.https://news.bitcoin.com/largest–bank-mufg-projects-to-offer-financial-services-in-metaverse-by-2023/
Cryptocurrency exchange giant Binance is highly unlikely to go through with its proposed acquisition of struggling rival FTX after less than a day of reviewing the company, according to a person familiar with the matter. https://www.coindesk.com/business/2022/11/09/binance-is-strongly-leaning-toward-scrapping-ftx-rescue-takeover-after-first-glance-at-books-source/
China‘s top economic newspaper cautioned against “feverishly” jumping on the metaverse bandwagon as local governments and enterprises flock to the booming industry, even as Facebook owner Meta Platforms announces job cuts this week. The metaverse industry sounds promising, but it may not fit every region. The article, which urged “prudence when expanding into the metaverse industry”, said more than 30 local governments in China have issued policies in support of metaverse development, and that more than 18 metaverse-specific industrial parks have been established. The Economic Daily compared it to the fervour surrounding the new energy industry years ago. https://finance.yahoo.com/news/chinese-state-newspaper-warns-metaverse-093000854.html
Notifi, a communication infrastructure platform for web3, said Tuesday it has raised $10 million in an oversubscribed seed funding co-led by previous backers Hashed and Race Capital. Other investors include Struck Capital, HRT Capital, Wintermute, and Superscrypt founded by Temasek, bringing its total funding to $12.5 million. The 10-month-old startup wants to address the broken communication model in web3, which is fragmented across multiple application and messaging platforms like Telegram, Discord and Twitter and across layer-1 and layer-2 blockchain ecosystems. https://techcrunch.com/2022/11/09/web3-messaging-infrastructure-notifi-raises-10m-seed-round-co-led-by-hashed-race-capital/
Bitmex said on Tuesday that the token will be used to reward customers, as the company aims to regain market share in the derivatives space. Rewards will be offered in the form of trading fee discounts, withdrawal fee waivers, improved staking rewards and access to new products and services, said Bitmex. The exchange first announced the BMEX token in December last year and started airdropping to users in February. Bitmex today said it has airdropped “millions of BMEX to over 80,000 traders” since February. In June, the company delayed the listing of its token, citing “market conditions.” But now is the right time to launch, according to Bitmex’s chief marketing officer Benjamin Usinger.
NFT.London’s two-day inaugural stint saw over 2,500 registered attendees and 800 speakers. It was a collaboration between frozen potato product corporation McCain’s — which recently launched a Roblox game where children can farm metaverse potatoes.
The event was substantially smaller than the 15,000-strong NFT.NYC, which is run by the same group. But its cosier feel and lack of the usual conference circuit speakers — many of whom spent that week at WebSummit in Lisbon instead — gave it the relaxed community atmosphere that NFT collections always seem to be striving for. From NFT t-shirt printers and new metaverse platforms to tables littered with QR codes advertising whitelists for upcoming mints. https://www.theblock.co/post/183803/nft-londons-inaugural-event-attracts-2500-with-bayc-food-truck-free-nfts-and-puppies
Crypto exchange FTX’s founder Sam Bankman-Fried earlier ensured users that deposits and withdrawals are working fine, clarifying rumors surrounding illiquidity. As users faced difficulty removing their Bitcoin holdings from the crypto exchange, FTX revealed that the matching engine is working smoothly. Moreover, Bitcoin (BTC) withdrawals are facing difficulty due to limited throughput on nodes https://coingape.com/ftx-clarifies-difficulty-bitcoin-transactions-ftx-binance-war/?utm_source=Logan&utm_medium=telegram
Prime real estate has always been an important factor for most retailers before starting a business, but things might be different with the emergence of a new virtual platform. The metaverse is a platform combining multiple technologies to enable social and economic activity in a digital world connected to the physical one. With the effects of metaverse commerce adoption. Info-Tech’s research indicates that retailers often struggle to adapt to the evolving needs of virtual shoppers, which can include the use of cryptocurrencies or NFTs. Shopping in the metaverse works differently than in the real world, which has shifted more online since the onset of the pandemic.
Germany’s financial supervisor, BaFin, has ordered the German branch of crypto exchange giant Coinbase to “ensure proper business organization,” the regulator wrote in an official statement published on Tuesday. BaFin indicated violations of the German Banking Act, pointing at two particular sections. One section outlines requirements for sustainable development. The German regulator also expects Coinbase to “ensure ongoing appropriate and effective risk management that includes the outsourced activities and processes,” following the Banking Act. The order has been in effect since Oct. 27. “Coinbase is committed to meeting all legal requirements under this regime.
Facebook parent company Meta is planning to shed a large portion lot of staff beginning this week. It’s the latest tech giant to lay off employees, following Twitter last week. Meta added more than 27,000 employees in 2020 and 2021 combined. Now that some semblance of normality is returning. On Nov. 6, the WSJ cited people familiar with the matter, reporting several thousand employees could be affected. Meta is expected to make an official announcement this week, it added. The earnings report came as a sting for Meta. It reported a painful 52% drop in net income, to $4.4 billion from $9.2 billion last year.
Ask Doodles new CEO Julian Holguin what he envisions for his upstart NFT brand, and he boasts of his company aspiring to challenge entertainment giants such as Disney, Amazon or Netflix.Doodles started as a scrappy NFT brand, ideated by Evan Keast (aka Tulip) and Scott Martin (aka Burnt Toast), the founders of another well-established NFT. Now, Holguin wants to thrust the blue-chip NFT project into global consciousness. On the starting blocks, he already had an impressive roster of celebrity power. The pastel NFTs have ridden a wave of hype into the mainstream, with pop heartthrobs Justin Bieber and Liam Payne (formerly in One Direction) have joining the ranks of Doodlers in the last year.https://www.theblock.co/post/183902/doodles-ceo-says-brand-is-ready-to-grow-up-aims-for-disney-level-brand-recognition
On-chain withdrawals on Ethereum, Solana, and Tron are down since roughly 3 hours ago.
Hackers profited $657 million in 44 DeFi exploits last month after returning about $100 million to a few platforms. Last month was quite spooky for the crypto industry as it saw the highest number of DeFi hacks this year. While October was expected to be “Uptober,” it quickly turned to “Hacktober” as cyber criminals ransacked top crypto projects for hundreds of millions of dollars.
According to PeckShield, the biggest amount of funds was stolen from the BNB Chain exploit that saw hackers wipe a whopping $586 million from the blockchain network. It was followed by the Solana-based crypto lender, Mango Markets, which was exploited for $100 million. A recent tweet by the blockchain security company PeckShield pointed out that October was the biggest month for hacking activities this year. The DeFi market suffered from 44 exploits that impacted 53 protocols in the tenth month, with the hackers. https://cryptopotato.com/hacktober-finished-with-657-million-losses-from-crypto-exploits/
The Avalanche Foundation is providing incentives worth $4 million in AVAX tokens for the decentralized trading platform GMX. The incentives come from Avalanche Rush, an $180 million liquidity incentivization program that aims to increase liquidity and users for decentralized finance (DeFi) applications on its smart contract platform.
GMX is a decentralized exchange that offers spot and perpetual futures contracts on Avalanche and another scaling protocol, Arbitrum. The $4 million in AVAX tokens will be distributed over a multi-month timeframe, as well as with partner platforms building on top of GMX, the Avalanche Foundation said in a statement. Partner platforms include exchanges TraderJoe, YieldYak and Dopex. GMX utilizes a different token model compared to other DEXs that aims to minimize impermanent loss for liquidity providers.