Crypto
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This oracle data provider platform has surpassed 4 million nodes since inception
Can a fully-functional oracle network ecosystem that anonymously collects and validates geospatial (location-specific) data exist? One blockchain firm seems to have gotten the gist of the idea. Founded in 2012, XY Labs and its namesake protocol XYO, which is built on the Ethereum blockchain, seek to reward participants for the genesis, interpretation, analysis, and storage of data to be called upon for specific problems. There are currently over 4 million nodes worldwide on the XYO network. In a recent ask-me-anything (AMA) session with Cointelegraph Markets Pro, Arie Trouw, founder of XY Labs, explained that fundamental to the XYO system is a special type of payload called BoundWitnesses. It contains a list of user-input data points that are signed by one or more nodes in the XYO ne...
CEL overtook LINK as the most-traded token from whales, which one to buy?
CEL has overtaken LINK as the most traded cryptocurrency among the top 100 ETH whales. The value of each of these tokens has increased in the last 24 hours, CEL by 4% and LINK by 11%. Learn which option is more suitable for your specific investment goals and expectations. Celsius (CEL) is a popular financial services platform specifically catered toward cryptocurrency users. Its main purpose is to allow the users to receive regular payouts and interest on their holdings, and its native cryptocurrency is known as CEL. Chainlink (LINK), on the other hand, is a blockchain abstraction layer, and its main goal is to enable universally connected smart contracts. It has a decentralized oracle network that let’s blockchain have data from external data feeds, which means that smart contracts ...
Yahoo launching Metaverse events for Hong Kong residents under restrictions
Yahoo has announced a series of Metaverse and NFT-related activities in Hong Kong, a day after Meta Platforms outlined its own metaverse plans for the region. Yahoo, a US-based internet media company, revealed that it will host a series of virtual events and concerts for Hong Kong residents in the Decentraland metaverse. According to Lorraine Cheung, the head of audience at Yahoo Hong Kong, the company sees the Metaverse as an attractive alternative for Hong Kong residents looking to engage in social activities while pandemic restrictions remain in force. On Thursday last week, a nation-wide mandate was introduced requiring that a negative Covid test be provided to enter all public venues such bars and restaurants. “We hope to use the Metaverse to connect people regardless of time and phys...
BitMEX co-founder Benjamin Delo avoids jail, receives 30 months probation
Benjamin Delo the co-founder of cryptocurrency exchange BitMEX has been sentenced to 30 months probation for violating the Bank Secrecy Act (BSA), which is an anti-money laundering law. The sentence, handed down at a federal court in New York on June 15th, follows his guilty plea to charges in February of “willfully failing to establish, implement and maintain an Anti-Money Laundering (AML) program” in his role at BitMEX. Prosecutors had argued Delo should serve a year in prison or at least receive a two-year probation along with six months of home detention, as was given to former CEO Arthur Hayes in May. For Delo, his lesser sentence closes the legal saga which started in October 2020 which also saw co-founders Hayes and Samuel Reed along with BitMEX’s first official employee Gregory (Gr...
BitBoy founder threatens class action lawsuit against Celsius
Just two weeks after appearing in an ask me anything (AMA) with Celsius founder Alex Mashinsky, crypto Youtuber Ben Armstrong has announced he intends to file a class action lawsuit against the lending platform and its chief executive. Armstrong made legal threats via Twitter on June 15, and has since provided more detail in multiple threads. His issue is centered on being unable to pay down loans with existing funds on the platform, and instead having to deposit new funds to pay the loans off: “[Our account rep] told us we had enough money in our account to pay off a loan. But we can’t use money in our account. We HAVE TO SEND CELSIUS MORE MONEY TO PAY IT OFF.” “Imagine an insolvent company that you can’t withdraw your money from ASKING YOU TO SEND THEM MORE MONEY,” he added. Armstrong st...
‘Buy Bitcoin, plant a tree, lower your time preference’: a Sequoia story
When the market falls faster than a tree in the forest, the phrases “zoom out,” and “lower your time preference,” take root. “Zoom out” refers to taking a break from the omnipresent price charts that populate news feeds and Twitter threads. Consider looking at the price of Bitcoin (BTC) over the past five years–as opposed to over the past 6,12 or 18 months. HODLing Bitcoin has far outperformed HODLing stocks over the past five years. But what does “lower your time preference,”–popular parlance among Bitcoiners, actually mean? Commonly attributed to Saifedean Ammous, the polarizing author who penned The Bitcoin Standard, lowering one’s time preference translates to thinking long-term, and to valuing the future over the present. In contrast to a fiat standard, where money loses va...
Celsius seeks help from Citigroup and reportedly hires restructuring attorneys
Wall Street Journal reported yesterday that the network is seeking to restructure to survive the financial crisis it is caught in At the start of this week, Celsius announced that it was temporarily halting withdrawal services on its platform Crypto lender, Celsius, has sought the services of ‘restructuring’ attorneys from the international law firm Akin Gump Strauss Hauer and Feld, WSJ reported on Tuesday. The lending firm is exploring the restructuring avenue amid alleged liquidity issues, with the lawyers from the largest US lobbying firm being called to offer assistance. The lawyers will reportedly advise on the financial restructuring path and offer consultation services. However, it is not concluded that this is the firm’s path. Citing unnamed sources in the know, the...
Ankr partners with Optimism to provide a fast and reliable RPC service for users
Ankr, a company that provides one-click node deployment and Web3 infrastructure, has announced that it will become a remote procedure call provider for Optimism. Optimism is an open-source Layer 2 scaling solution for Ethereum that focuses on speed and efficient transactions across the network. It has caught the eyes of many in recent months, including Ethereum co-founder Vitalik Buterin. This is a great example of why I’m so proud of @optimismPBC for adding non-token governance (the Citizen House). Optimism explicitly has goals *other* than just “make OP go up”, and the only way to do that long-term is with explicit representation of non-token-holder interests. pic.twitter.com/vofVVx53mC — vitalik.eth (@VitalikButerin) June 3, 2022 Ankr has assisted many industry leaders...
Former president of the New York Stock Exchange joins Uniswap Labs as an advisor
On Wednesday, Uniswap announced that former New York Stock Exchange president Stacey Cunningham will join the company as an advisor. Cunningham served as the first female president of the New York Stock Exchange after beginning her career as a trader on its floor. She said in a statement that she believes in the potential of Uniswap’s commitment to fairer markets.Uniswap is betting on her experience with TradFi translating over to DeFi to further help them evolve their place in Web3. Cunningham has also been listed as one of BBC’s 100 Women, and joined the NYSE board of directors in December 2021. 1/ We are beyond honored to welcome Stacey Cunningham @stacey_cunning, former president of the New York Stock Exchange @NYSE, as an Advisor to Uniswap Labs. — Uniswap Labs (@Uniswap) J...
Ukraine-based blockchain firm announces ‘we’re still hiring’ amid market downturn, war
Sergey Vasylchuk, the chief executive officer of Ukraine-based decentralized staking provider Everstake, has said the company will continue to hire crypto professionals amid a market downturn and ongoing conflict in the country. In a Wednesday Twitter thread, Vasylchuk said Everstake had hired 30 people since the Russian war against Ukraine started in February, and the firm still had more than 10 positions in marketing and development to fill. According to the CEO, Everstake is “not firing anybody” and had made preparations for a “special fund” to tide the firm over in the event of a bear market. “An important part of doing business is assessing and addressing all potential risks,” said Vasylchuk. “We couldn’t help but expect another market crash simply because risk management dictat...
True Global Ventures doubles down on Web3 with $146M ‘follow-on’ fund
Venture capital firm True Global Ventures 4 Plus (TGV4 Plus) has announced the closure of a $146 million funding round earmarked for a wide range of Web3 projects — highlighting investors’ continued interest in crypto despite an ongoing bear market. The latest closure, dubbed the TGV4 Plus Follow On Fund, was led by a group of 15 general partners who committed over $4 million on average (over 40%, or $62 million) into the fund. The majority of the funding will be primarily injected into Web3 companies within TGV’s portfolio, while the remaining will be used to invest in late-stage Web3 opportunities. TGV previously invested in numerous Web3 initiatives using a base fund dedicated to the late-stage Series A, B and C across three business verticals: entertainment and gaming, financial servic...
Cake DeFi offers hope as uncertainty rocks the crypto DeFi space
This week has been nothing short of “Maniac Week’ for the crypto community as crypto prices continue to fall. Bitcoin (BTC) has been leading the fall and it is currently barely holding above $20,000. Alongside the plunge, crypto services providers are starting to become shaky with a few already being forced to pause services. On Monday, DeFi participants woke to the shocking news that the crypto lending giant Celsius was pausing withdrawals, transfers, and swaps indefinitely and the services are yet to resume to date. There are also rumors that the crypto lender may be insolvent; although the company has not responded to this. But fast forward to Cake DeFi, a Singapore-based staking, lending, and liquidity pool platform that enables users to deposit and earn a yield on a variety of digital...
