Crypto Developers Grew in Numbers Amid Bear Market, VC Firm Electric Capital Says
Developers are mainly focusing on alternative ecosystems to Bitcoin and Ethereum, helping them grow faster, the VC firm said in a report.
Crypto
Polygon Completes Hard Fork to Reduce Gas-Fee Spikes, Disruptive Reorgs
The software upgrade to the Ethereum scaling project went live on Tuesday and included two proposals from December that Polygon validator teams voted to approve.
‘To the moon’ or ‘total crash’? Bitcoin price hits new 4-month highs
BTC price action is still splitting consensus regarding whether Bitcoin will continue higher — what do you think?
South Korea Launches Metaverse Replica of Seoul
As part of a three-year effort to expand its public services, Metaverse Seoul will allow users to take their avatars to tax offices, access youth counseling and read e-books.
Solana Foundation, Ripple, GBBC and Others Form Partnership to Promote Crypto Solutions for Climate Change
The crypto-climate coalition is trying to come up with interoperability principles and business cases.
Ethereum Startup Obol Labs Raises $12.5M to Decentralize Validators
Co-led by Pantera and Archetype, the funding round is targeted towards building out decentralized validator technology (DVT) on Ethereum.
Congress’ FTX Problem: 1 in 3 Members Got Cash From Crypto Exchange’s Bosses
More than one in three of the 535 senators and representatives in the U.S. Congress showed up to the new session with FTX baggage, having received campaign support from former CEO Sam Bankman-Fried or one of the senior executives of the fraud-ridden crypto giant.
Crypto Lender Nexo Sues Cayman Island’s Regulator for VASP Registration
Nexo has sued the Cayman Islands Monetary Authority to overturn its rejection of Nexo’s application to register as a virtual asset services provider.
Masa Finance launches soulbound Web3 identity protocol for Ethereum
According to the developers, the soulbound credit score system uses over 10,000 data points to determine a Web3 user’s creditworthiness.
Hong-Kong investment fund raises $500M to push mass adoption in Web3
The global asset manager HashKey Capital closed the funding round for its FinTech Investment Fund III, with which it plans to invest in startups and projects in the space perpetuating mass adoption.
Polygon enlists Xternity to migrate multiplayer Web3 game from Solana
To help transfer Synergy Land’s resources onto the EVM chain, Xternity proposed a process — via its network migration tool — that can be used to migrate games or projects across chains.
10 practices crypto can borrow from TradFi to better protect customers
The crypto industry would be wise to learn from and adopt the proven principles and processes TradFi relies on to protect consumers.
Africa Web3 games publisher Carry1st raises $27M
VC firms Bitkraft Ventures and Andreessen Horowitz participated in the funding round, which aims to advance Web3 gaming in Africa.
HashKey Capital Raises $500M for Third Crypto Fund
The firm will back blockchain projects that could achieve mass adoption.
Fidelity-Backed Exchange OSL Cuts Workers Amid Ongoing Crypto Winter: Bloomberg
The number of layoffs at the Hong Kong crypto exchange was not specified.
Developers Keep the Candle Burning During Chilly Crypto Winter
A new report released by Web3 developer platform Alchemy suggests that while this past year saw token trading slow, the number of smart contracts deployed on Ethereum continues to grow.
‘I thought SBF was the Mark Zuckerberg of crypto,’ says Anthony Scaramucci
Anthony Scaramucci said blockchain “skepticism is usually born from a lack of knowledge,” while sharing his crypto holdings of Bitcoin, Ether, Solana and Algorand.
First Mover Americas: Three Arrows’ Founders Take Slingshot From Crypto Community
The latest price moves in bitcoin (BTC) and crypto markets in context for Jan. 17, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
Silvergate reports $1B net loss in the fourth quarter of 2022
The report highlighted that the average deposits in the fourth quarter were $7.3 billion which was lower than the third quarter which had $12 billion.
Bank of America Says CBDCs Are the Future of Money and Payments
Central bank digital currencies have the potential to revolutionize global financial systems, the report said.
Crypto-Focussed Bank Silvergate Reports Q4 Loss of $1B
Silvergate’s losses in Q4 culminated in full-year losses of around $949 million, compared to net income of $75.5 million in 2021.
UK Court Sentences 4 Men to 15 Years Prison for $26M Crypto Fraud
The offenders used the internet from the comfort of their own homes to obtain millions, Jonathan Kelleher of the Crown Prosecution Service (CPS) said.
European Union Postpones MiCA Vote to April
The European Union’s landmark new legislation, the Markets in Crypto Assets Regulation (MiCA), has been delayed due to technical reasons.
Crypto Lender Vauld Gets Another Extension for Submitting Restructuring Plan: Bloomberg
Vauld has received bids from two digital asset fund managers to take over the beleaguered lender after talks with Nexo broke down.
Bitcoin DeFi ecosystem explained
DeFi on Bitcoin was made possible by the Taproot upgrade. Find out how Bitcoin DeFi works compared to the Ethereum blockchain.
Bitcoin hits new post-FTX high as analysis warns move ‘choreographed’
The current BTC price boost may not be a natural phenomenon any longer, new research says.
SEC of Thailand issues crypto custody provider rules
The Thai securities regulator now requires crypto custodians to have a contingency plan in case of unforeseen events.
China’s Digital Yuan Used to Buy Securities for the First Time: Report
Last week, the country also added a function to its e-CNY payment app that allowed users to make payments offline.