Crypto
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Tally Labs strive to expand decentralized content ecosystem with $12M funding
Tally Labs, a Web3 media company that oversees the business operations and infrastructural software development of Jenkins the Valet — a fictional nonfungible token (NFT) project orientated around the life of a Bored Ape character — has announced a seed funding round to the value of $12 million. The company has pledged to utilize the funds to expand the intellectual property and commercialization of Jenkins the Valet to a broader spectrum of entertainment mediums, as well as hire for six newly-posted United States/remote job roles. The fund compiles a list of 19 investors, both venture capital and individual investors, who were consciously chosen for their wide-ranging expertise and knowledge, but crucially their affiliation with the principal values of Web3 and decentralized content creat...
Dutch regulator says crypto not yet suitable as means of payment or investment
A Dutch regulator stated that the crypto derivatives market should be restricted to wholesale trade. The reasons are not unfamiliar — lack of transparency, market manipulation and “other forms of criminal activity.” On May 12, the head of Capital Markets and Transparency Supervision at the Dutch Authority for Financial Markets (AFM), Paul-Willem van Gerwen, shared his opinion on the crypto derivatives trade at the Amsterdam Propriety Traders Managers Meeting. Van Gerwen highlighted, that despite (or perhaps because of) the market’s rising interest in crypto derivatives trading, the AFM “do regard such trade as entailing risks” and consider this market to be not as mature as the other derivatives markets. A specific problem arising from the volatility of the crypto products, according ...
Market strategist claims the crypto crash might be ‘good’ for the sector in the long term
The unprecedented fall of Terra (LUNA) and the algorithmic stable coin UST sent shockwaves across the whole crypto market The crash has given more voice to calls for regulation and investor protection The past few weeks have been turbulent for investors in the crypto space, with market movements creating margins never seen before. Investors have had to cut losses, not to mention being caught in fixes, unable to predict how the cryptocurrencies they track might perform upon trading. The heavy downturn has opened up discussions on the utility and market performance among industry experts. Bitcoin may hit a bottom of $12,000 during this current cycle In an interview with Stanberry Research, Gareth Soloway, the President of InTheMoneyStocks.com, dismissed the popular belief that Bitcoin f...
Ethereum’s popularity ‘a double-edged sword’ — a16z’s State of Crypto report
Crypto venture fund giant Andreessen Horowitz (a16z) has highlighted that development and demand on Ethereum is “unmatched” despite the network’s high transaction fees. The firm does warn, however, that its “popularity is also a double-edged sword” given Ethereum prioritizes decentralization over scaling, resulting in competing blockchains stealing market share with “promises of better performance and lower fees.” The comments came via a blog post introducing a16z’s 2022 “State of Crypto” report, with the firm’s data scientist Daren Matsuoka, head of protocol design and engineering Eddy Lazzarin, General Partner Chris Dixon, and head of content Robert Hackett all working together to provide five key takeaways from the study. Outside of Ethereum, the report focuses on topics such as Web3 de...
German BaFin official calls for ‘innovative’ EU-wide DeFi regulation
Birgit Rodolphe, an executive director at Germany’s Federal Financial Supervisory Authority (BaFin) has called for innovative and uniform regulation of the decentralized finance (DeFi) space throughout the European Union (EU). BaFin is Germany’s financial regulatory body responsible for regulating banks, insurance firms, and financial institutions including cryptocurrency companies. BaFin is the issuer of “crypto custody licenses,” a permit required for firms wanting to offer cryptocurrency services within Germany. In an article on BaFin’s website Rodolphe warned of the risks to consumers of the unregulated DeFi space and called for standardized regulatory considerations across EU member countries. Birgit Rodolphe, Executive Director Processing and Prevention of Money Laundering at B...
Analysts note parallels with March 2020: Will this time be different?
Analysts in both crypto and traditional markets have noted some startling similarities between the recent downturn and the one caused by a pandemic panic in March, 2020. The real question is whether it’s the start of a larger downturn or if there will be a significant bounce-back as in 2020 that led to an extended bull run in both crypto and stocks markets. Podcaster and author of The Pomp Letter, Anthony “Pomp” Pompliano is on the permabull side of the ledger, tweeting on May 18 that since March 1, 2020 when one Bitcoin cost about $8,545, “Bitcoin is up 340%.” Bitcoin is up 340% since March 1, 2020. As central banks around the world devalued their currencies at a historic rate, there is only one asset that stood out from the pack.#bitcoin is the savings technology that shields billions of...
Cloudflare to run Ethereum node experiment to help ‘build a better internet’
Ahead of Ethereum’s highly anticipated switch to proof-of-stake (PoS), cyber security firm Cloudflare is set to launch and fully stake Ethereum validator nodes over the next few months. It aims to study energy efficiency, consistency management, and network speed of the PoS network as part of its commitment to environmental sustainability and to help “build a better internet.” Cloudflare was founded in 2010 and provides web security services such as distributed denial-of-service (DDoS) mitigation to protect clients from DDoS attacks. Cloudflare said it was experimenting with the “next generation of Web3 networks that are embracing proof of stake,” with Ethereum being the first in line for the company. At this stage, it appears the Merge and transition to a PoS consensus mechani...
Coinshift Closes $15 Million Series A Led by Tiger Global, Sequoia Capital India, Alameda Ventures
Sheridan, United States, 17th May, 2022, Chainwire Cash management company announces roadmap to build cutting-edge multichain treasury infrastructure for Web3 Coinshift, leading treasury management and infrastructure platform that enables DAOs and crypto businesses to manage cash reserves, announced its $15 million series A funding round and its roadmap for building a novel full-service treasury management solution in the industry. The series A funding round is led by Tiger Global and joined by Sequoia Capital India, Ryan Hoover (Founder of Product Hunt and the Weekend Fund), Alameda Ventures, Spartan Group, Ethereal Ventures, Alpha Wave Capital, Hash key Capital, Quiet Capital, Polygon Studios, Volt Capital and 300 and more angels and operators in crypto and fintech. Coinshift has u...
Safex market expands its lens: announces new vendor partnership with online retailer focus camera
Miami, Florida, 17th May, 2022, Chainwire Safex Market, the decentralized cryptocurrency e-commerce platform on the Safex Blockchain, has just announced a new vendor partnership with Focus Camera, an online retailer from Brooklyn, New York that has been in business of new and used camera gear since 1966. The Camera retailer joins the crypto marketplace with full use of their 30,000 SKUS in inventory. The Focus Camera onboarding comes swiftly behind several other major online retailers partnering with the decentralized marketplace. With its blockchain secured platform committed to maximizing benefits for both the buyer and the seller at every stage, Safex Market continues to attract online retail giants to the platform. Safex Market is disrupting the status quo for cryptocurrenc...
Smart Token Labs supports Carla Chan and La Prairie in First NFT Drop
Manly, Australia, 17th May, 2022, Chainwire Bringing Art and Beauty Lovers Into Web3 The first NFT art collection from the world’s leading luxury skincare brand La Prairie in collaboration with world renowned digital artist Carla Chan – is notable for more than the innovative and inspiring art that it represents. “Space Beyond” by Carla Chan involves 365 + 1 editions of unique, forever-changing artworks generated in real-time with weather and demographic data. Each artwork represents a day in the year of the 31 most populated cities across the globe. The artwork will be dropped on May 18 at FRIEZE New York and proceeds will benefit the preservation of glaciers around the world. The drop can be accessed at www.nft.carlachan.com from 11am EDT on May 18. Smart Token Labs is supporting Carla C...
Bloomberg strategist compares Bitcoin’s declining volatility to Amazon stocks in 2009
The Fed’s position against risk-on assets is purging the most speculative assets, such as meme coins. The senior commodity strategist at Bloomberg Intelligence, Mike McGlone, has forecasted the declining volatility against stock markets will allow Bitcoin and Ethereum to come out ahead While crypto markets have suffered greatly since the start of May, bearish conditions can only last finitely and there are signs the downturn is coming to an end or at least abating. In a recent interview with Yahoo Finance, Mike McGlone, the senior commodity strategist at Bloomberg Intelligence, has expressed his belief that even as the nascent crypto markets suffer alongside the S&P 500, the former will come out on top. Fed measures against inflation fuelled the recent crash McGlone explained that the ...
NFT prices take a gut punch as the crypto bear market deepens
Without fail, crypto has a way of humbling even the most self-assured and this market is definitely not for the faint of heart. Nonfungible token (NFT) investors have entered what appears to be a bear market and the recent chaos is also impacting community morale. The decline in NFT prices occurred as the United States Federal Reserve raised interest rates, Terra’s LUNA and UST-based platforms collapsed and traders came to terms with the reality that the entire sector could be in a bear market. Things aren’t as bad as they were in 2018, but the NFT market isn’t as seasoned. Despite this, investors are already strapping up for potential future profits and ways to survive the current market downturn. Will blue-chip tier NFTs hold the line? Week after week, most blue-chip tier NFTs main...
