Crypto
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Multinational investment bank HSBC acquires LAND on The Sandbox
The bank sees great potential in creating new experiences through immersive tech such as virtual reality HSBC will use its metaverse initiative to interact with sports, e-sports, and gaming communities Multinational banking and asset management firm HSBC has officially joined the metaverse, according to a blog post published by The Sandbox today. Following the partnership, the British financial services company has purchased a plot on The Sandbox metaverse, on which it intends to establish its virtual world. It hopes to use the ecosystem to provide an engagement platform for finance professionals, gaming communities, sports, and e-sports enthusiasts. “The ground-breaking partnership between The Sandbox and HSBC will see the global financial services provider acquire a plot of LAND, v...
The best banking tokens you can buy on March 16, 2022 are NEXO, XDC, KAVA and POLY and this is why!
NEXO, XDC, KAVA, and POLY are all banking tokens within crypto. Each token has potential for growth. Each token has showcased signs of growth. NEXO (NEXO), XDC Network (XDC), Kava (KAVA), and Polymath (POLY) are all baking tokens within the crypto sphere, and each of them has showcased the potential for growth. We will be going over each token individually to truly see how far their value can grow by the end of March 2022. Should you buy NEXO (NEXO)? On March 16, 2022, NEXO (NEXO) had a value of $2.16. The all-time high value of NEXO (NEXO) was on May 12, 2021, when the token reached a value of $4.07. When we go over February, NEXO (NEXO) had its highest point of value on February 10, at $2.31. Its lowest point was on February 24, when the token decreased to $1.62. This indicates tha...
Bitcoin calls traders‘ bluff with fresh $40K fakeout as Fed decision day arrives
Bitcoin (BTC) tested traders‘ neves yet again on March 16 as a fresh spike over $40,000 ended in minutes. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Shorts feel the burn after abrupt trip to $41,700 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD suddenly surging to highs of $41,700 on Bitstamp before instantly reversing. Two hourly candles were all it took for the entire market to rise by $2,000, break significant resistance levels and come all the way back down again. The move, while recently commonplace, was not without its casualties, as evidenced by liquidations across exchanges. According to data from on-chain monitoring resource Coinglass, Bitcoin accounted for $98 million of these over the 24 hours at the time of writing. Total crypto liquid...
Crypto startup employee quits after realizing telltale signs of failure
The startup ecosystem has historically played a vital role in shaping the crypto community into an almost $2 trillion industry. However, numerous players bank on this notion to consistently overpromise and underdeliver the big WAGMI dream. Back in December 2021, Redditor busterrulezzz thought they landed their dream job after being hired by a crypto startup — only to realize that they were now a part of the problem and resigned from the position two months later. Redditor u/busterrulezzz: Source: Reddit As narrated by busterrulezzz: “First of all, the level of disorganization and chaos was absolute madness. Each morning we had a different objective, based on the most recent trend in the market.” The Redditor alleged that the crypto startup, which shall remain unnamed due to an active ...
$100M fund aims to support the growth of decentralized machine economy
IoTeX, a blockchain platform focused on the Internet of Things (IoT), has announced the launch of a $100 million sustainable ecosystem fund. The new fund will back over 1,000 decentralized machine economy startups developing use cases for connecting more than 10 million smart devices to the MachineFi portal within the next three years. The decentralized machine economy is a developing economy in which machines, rather than people, are the driving force behind economic growth. This new economy is powered by blockchain technology and artificial intelligence (AI), and it has the potential to create a more efficient, secure and sustainable way of doing business. MachineFi refers to a new paradigm based on Web3 that underpins the new machine economy. Machine resources and intelligence can be mo...
What happens to your Bitcoin when you die? A new service saves it for family and friends
When Bitcoin (BTC) traders pass away, their BTC may forever be lost within the blockchain if they haven’t given anyone else access to their wallets. However, an exchange project wants to give crypto traders another option. Back in 2020, a study showed that many crypto investors worry about what happens to their digital assets when they pass away. 89% of respondents expressed concerns on whether their assets would be given to family or friends after their demise. In an interview with Cointelegraph, Jeetu Kataria, the CEO of Digital Financial Exchange (DIFX), highlighted the importance of a way to pass crypto to loved ones in case of death. According to Kataria, their project created a blockchain-based nomination program that allows users to choose “trusted individuals, fam...
ConsenSys raises $450M in Series D funding, doubles valuation in four months
On Tuesday, ConsenSys, the leading Ethereum and decentralized protocols software company with product suites such as MetaMask, Infura and Truffle, announced the close of a $450-million Series D funding round led by ParaFi Capital. Notable new investors included Temasek, SoftBank Vision Fund 2, Microsoft, Anthos Capital, Sound Ventures and C Ventures. The deal more than doubles its valuation since the firm’s $200-million Series C raise in November 2021. Proceeds from the round will, in part, be converted to Ether (ETH) to rebalance the ratio of ETH to United States dollar equivalents in ConsenSys’ treasury. The firm actively seeks to use its own financial infrastructure to earn yields on such assets in decentralized finance (DeFi), protocols and via staking. The proceeds wil...
Ethereum Merge testing on Kiln mostly successful, save for one minor bug
On Tuesday, Ethereum (ETH) developer Tim Beiko tweeted that Kiln successfully passed the Ethereum Merge, with validators producing post-merge blocks containing transactions. Kiln will be the last Merge testnet (formerly Ethereum 2.0) before existing public testnets are upgraded. “Merge” involves taking Ethereum’s Execution Layer from the existing Proof of Work layer and merging it with the Consensus Layer from the Beacon chain, turning the blockchain into a proof-of-stake network. The Foundation writes: “This merge signals the culmination of six years of research and development in Ethereum and will result in a more secure network, predictable block times, and a 99.98%+ reduction in power use when it is released on mainnet later in 2022.” However, it app...
Instagram is adding NFTs soon says Mark Zuckerberg
Meta CEO Mark Zuckerberg has revealed that its video and photo sharing app, Instagram, is preparing to add non-fungible tokens (NFTs) to the platform. “We’re working on bringing NFTs to Instagram in the near term,” Zuckerberg reportedly stated in an appearance at the South by Southwest conference in Austin, Texas. The Facebook founder did not provide specifics on when the implementation would happen. Casey Newton, writer for the Platformer newsletter, tweeted from the conference that Zuckerberg also said that he hopes in the coming months, Instagram users would be able to mint their own NFTs on the platform. At #SXSW, Mark Zuckerberg just said that “hopefully” in the coming months you’ll be able to mint NFTs within Instagram — Casey Newton (@CaseyNewton) March 15, 2022 Meta did not immedia...
Diem team members raise $200M to launch blockchain derived from it
Former Meta employees and key players behind the firm’s defunc stablecoin project Diem have raised $200 million to expand a new project dubbed “Aptos.” Aptos was cofounded by former Novi — Meta’s crypto unit — strategic partnerships lead Mo Shaikh and tech lead Avery Ching. The duo arenow serving as the CEO and CTO for the new firm. Both left the company in December, prior to Diem being sold to Silvergate Capital in February this year. The team is building a decentralized Layer 1 blockchain that is partly based on Move, the coding language initially developed for Diem. The company is now in the process of growing its developer ecosystem and attracting projects to the blockchain, which it touts will be a cheap, secure and scalable network. According to a March 16 announcement, Aptos’ $200 m...
PayPal CEO Dan Schulman asserts crypto will reshape the financial landscape
The PayPal executive doesn’t care much for the price of Bitcoin but rather its role in the financial system going forward PayPal has been delving deeper into crypto initiatives, recently revealing plans for a stablecoin Dan Schulman, the Chief Executive Officer of financial services company PayPal, has doubled down on his belief in the role of cryptocurrencies in an evolving financial world. Schulman spoke of his conviction in crypto as he responded to questions from CTech ahead of his scheduled speech at Axis Tel Aviv, an international investment and innovation conference to be held later this month. The FinTech CEO explained that he expects that, in addition to the ballooning utility of crypto payments, the convergence of virtual assets, including stablecoins, central bank digital ...
Fantom (FTM) and Cardano (ADA) trading in the range of yearly lows
Fantom (FTM) has revisited December lows in the $1.05 zone Cardano (ADA) has slipped below $0.80 for the second time in less than three weeks The crypto market has been relatively quiet in the last 48 hours, with many crypto assets consolidating around their support zones. Bitcoin headed towards bearish targets below $39,000 Bitcoin’s ascent towards $40,000 earlier today was cut short by tough resistance at $39,800, CoinMarketCap data suggests. The flagship cryptocurrency set a weekly high of $39,742.50 before losing more than $1000 in less than three hours and finding support at around $38,700, where it is currently trading. The picture is not very different for the rest of the altcoins in the top ten ranking by market capital. The majority of them have slid back by 2% to 5% in the last 2...
