Crypto
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CityCoins expanding services via 11 new incubated projects
The Stacks Ventures project incubator has accepted 11 projects to help make CityCoins more appealing to global mayors who want to utilize a digital asset to receive rewards and bolster their economies. Stacks Ventures is a $4 million incubator for projects on the Stacks (STX) Bitcoin layer-2 smart contract solution. CityCoins is a project that enables partnered city governments to launch their own token on Stacks, with Miami City And New York City being the first two to sign on with MiamiCoin and NYCCoin. As part of the partnerships, the local governments earn CityCoin rewards and stake the asset to receive additional rewards in Bitcoin (BTC). In its second cohort of 24 projects to be incubated, Stacks Ventures will incubate 11 that add wireless networking, Web3, gaming, nonfungible token ...
Institutional investment flows out of ETH and into competing L1 altcoins
Institutional investors have shifted their attention from Ethereum (ETH) to competing Layer 1 blockchains of late, with capital inflows for altcoin investment products increasing last week whilst Ether products posted outflows for the third week in a row. Data from CoinShares’ latest Digital Asset Fund Flows report shows that investors last week (ending April 22) loaded up on $3.5 million worth of Avalanche (AVAX), Solana (SOL), Terra (LUNA) and Algorand (ALGO) funds whilst capital outflows from Ether products totaled $16.9 million. It marks the third straight week that Ethereum products have seen outflows, bringing the total over that time to $59.3 million, equal to around 35% of the year-to-date outflows of $169 million from the second-largest blockchain. Notably, investors also favored ...
TRON DAO is launching Decentralised USD (USDD) this May
Justin Sun says USDD would be backed by a $10 billion crypto reserve Proper algorithms would be used to retain the USDD tie with the dollar at 1:1 despite volatility 31-year-old crypto figure Justin Sun has revealed plans to launch the first token of the Stablecoin 3.0 era – Decentralised USD (USDD). According to an open letter sent out last week, Sun explained that TRON DAO had initiated efforts with top figures in the blockchain space to launch USDD as the most decentralised stablecoin. The stablecoin will boast a $10 billion backing in a crypto reserve, a figure that Sun said will be raised by the newly-established TRON DAO Reserve over the next six months to one year. The reserve will be made of highly liquid assets and derived from leading entities in the blockchain scene. USDD w...
Weekly Report: Coinbase unveils NFT marketplace in beta, Binance chasing regulatory compliance
Coinbase NFT allows waitlisted users to join a beta program of the NFT marketplace Kadena Eco launches a $100 million grant to empower developers to build on the Kadena network a16z has established an academic crypto-research focused lab to solve important problems in the blockchain scene Binance recruits two former regulators to its compliance and surveillance team Australia defines a policy roadmap toward the regulation of crypto assets Here are the top cryptocurrency headlines you might have missed last week: Coinbase NFT launches in beta plans to add users over the coming weeks progressively Coinbase announced mid last week that it started allowing a few members on the waitlist of Coinbase NFT to start using the platform, which is currently in a limited beta stage. Coinbase says t...
Report: Postmates founder Bastian Lehmann launches crypto startup
According to local news outlet FinanceFWD, German entrepreneur Bastian Lehmann is making a move into the crypto industry with the creation of a new startup called “TipTop Labs.” Although details surrounding the venture remain unknown, its website states the firm seeks to provide “consumer finance solutions for an emerging web.” On its careers page, it appears that TipTop Labs is hiring a blockchain engineer whose primary responsibilities include “Building protocol components that integrate across different blockchain systems,” and “leading the design and architecture of core protocols and tokens.” The firm has been registered in the State of Delaware since February. On his Linkedin page, Lehmann states that he is the current founde...
Elon Musk buys Twitter for $44B — crypto industry reacts
In the hours and days before Tesla CEO Elon Musk’s purchase of social media giant Twitter, discussions on free speech were common among many online users both in and out of the crypto industry. Twitter announced on Monday that it will become a privately held company following its board of directors accepting a bid from Musk to purchase the firm’s stock for $54.20 per share in cash — roughly $44 billion. Though the transaction is expected to close in 2022, it is still subject to the approval of Twitter stockholders as well as certain regulators. In one of his last tweets prior to news of the purchase becoming public, Musk said, “I hope that even my worst critics remain on Twitter because that is what free speech means.” Twitter quoted the Tesla CEO saying “free speech is the bedrock of...
Bitcoin hits $40K, investors pump Dogecoin (DOGE) after Musk confirms Twitter purchase
The cryptocurrency market fell under pressure in the early trading hours on April 25, but a brief spurt of bullish price action sparked after media headlines announced that Elon Musk had reached a deal to purchase Twitter for $44 billion. Data from Cointelegraph Markets Pro and TradingView shows that after dropping as low as $38,210 in the opening trading hours on Monday, Bitcoin (BTC) price staged a 5.72% rally to hit an intraday high at $40,366 as news of Twitter’s sale spread across news outlets. BTC/USDT 1-day chart. Source: TradingView Here’s a look at what analysts and on-chain data have to say about Bitcoin’s short-term outlook. Declining exchange reserves point to strong accumulation The recent bearish sentiment that has dominated the crypto market was addressed b...
Takeaways and reviews, what went down during Miami Tech Week
Miami Tech Week took place last week in the South Florida city as part of April’s Tech Month programming, which also included NFT Miami and the Bitcoin 2022 conference earlier in the month. Tech Week kicked off with the eMerge Americas conference and the myriad of panel discussions scheduled throughout the city that followed. Cointelegraph gathered some key insights from thought leaders who participated, and the two main themes are Miami as a hot spot for crypto folks, and crypto as a disruptor of the investment landscape. eMerge Americas is a venture-backed organization with a mission to position Miami as the tech hub of North and South America. Its signature event since 2014 has been the annual tech conference, which features a startup pitch competition. After a two-year hiatu...
Portal partners with HighCircleX to launch tokenised shares on the Bitcoin blockchain
Tokenised equities have been launched on various blockchains, but this is the first time they will be coming to Bitcoin. Portal, a cross-chain Layer-2 DEX network, announced earlier today that it had partnered with HighCircleX, a blockchain-based asset marketplace by High Circle Ventures. The partnership will see the two entities tokenise shares in pre-IPO companies on the Bitcoin blockchain. This latest development is a huge plus for Portal in its bid to bring real-world use cases to Bitcoin. According to the press release shared with CoinText, the tokenisation of equity in private, pre-IPO companies will help bring liquidity to illiquid assets, the companies said. Furthermore, it will increase the utility of the Bitcoin blockchain. Portal’s Executive Chairman, Dr. Chandra Duggirala, said...
Top smart contract platform tokens worth considering on April 25
Terra (LUNA), TRON (TRX), Polkadot (DOT), Polygon (MATIC), and Elrond (EGLD) are all smart contract platform tokens. Each token has showcased a significant level of growth throughout the past month. All of these tokens can increase in value going forward and are solid options to buy on April 25. Terra (LUNA), TRON (TRX), Polkadot (DOT), Polygon (MATIC), and Elrond (EGLD) are some of the best smart contract platform tokens that you can get on April 25, 2022. We are going to go over each token individually so you can have a better perspective of what you can expect. Should you buy Terra (LUNA)? On April 25, 2022, Terra (LUNA) had a value of $88.46. The all-time high of Terra (LUNA) was on April 5, 2022, when the token reached a value of $119.18. When we look at March’s performance, Terra (LU...
Kraken awarded crypto trading license in the United Arab Emirates
Californian crypto exchange Kraken becomes the second virtual asset platform after Binance to receive regulatory approval to operate in the Abu Dhabi international financial center and free zone, Abu Dhabi Global Market (ADGM). In a CNBC interview, Kraken’s managing director Curtis Ting explains the importance of diversifying trading pairs to local currencies instead using the traditionally available United States dollar or Great British pounds in global markets. With the new operational license in Abu Dhabi, Kraken aims to better integrate with local banks and payment service providers. According to Ting, this will help the crypto exchange bring global-level liquidity to the United Arab Emirates region. Citing Dubai’s existing massive trading volumes, lik upwards of $25 billion worth of c...
STEPN impersonators stealing users’ seed phrases, warn security experts
Peckshield, a prominent blockchain security firm, exposed the existence of numerous phishing websites for the Web3 lifestyle app STEPN on Monday. Hackers insert a forged MetaMask browser plugin through which they can steal seed phrases from unsuspecting STEPN users, according to Peckshield. When these cybercriminals obtain the seed phrase, they gain complete control over the STEPN user’s dashboard where they may connect their stolen wallets to their own or “claim” a giveaway as per Peckshield. #PeckShieldAlert #phishing PeckShield has detected a bath of @Stepnofficial phishing sites. They insert a false Metamask browser extension leading to stealing your seed phrase or prompt you to connect your wallets or “Claim” giveaway. @Metamask @Coinbase @WalletConnect @phantom pic....
