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FATF guidance on virtual assets: NFTs win, DeFi loses, rest remains unchanged
The Financial Action Task Force (FATF) released its long-awaited guidance on virtual assets, laying out standards that have the potential to reshape the crypto industry in the United States and around the world. The guidance addresses one of the most important challenges for the crypto industry: To convince regulators, legislators and the public that it does not facilitate money laundering. The guidance is particularly concerned with the parts of the crypto industry that have recently brought about significant regulatory uncertainty including decentralized finance (DeFi), stablecoins and nonfungible tokens (NFTs). The guidance largely follows the emerging approach of U.S. regulators toward DeFi and stablecoins. In a positive note for the industry, the FATF is seemingly less aggressive towa...
Blockchain folk hero Nandy Martin hopes to build a better community for Haitians in Miami
Haiti, a Western Caribbean country torn by a tragic past, natural disasters, poor leadership and ineffective foreign aid, is not a country that comes to people’s minds when they think of blockchain adoption. For years, Haiti has been among the world’s poorest countries in terms of GDP per capita, as per data from the World Bank. But Haitian-Canadian entrepreneur Nandy Martin, colloquially known as Captain Haiti for wandering the streets of his community in his superhero attire and signature shield prop, has ambitious goals to change that. Operating from the sunny domains of his humble abode in Miami’s Little Haiti, Martin launched the Little Haiti Coin on the Cardano blockchain as an initiative to clean up his community, drive business crypto adoption and use it as a mean...
Nifty News: Pepsi’s debut drop, 1inch expands P4 Metaverse and Tom Brady gifts NFTs
Cointelegraph has had a lot of NFT related news this week from pop culture to sports and gaming. Below is a roundup of stories you don’t want to miss. Pepsi and VaynerNFT team up Pepsi launched their Mic Drop genesis NFT collection made up of 1,893 generative style NFTs on the Ethereum blockchain. The number commemorates the year Pepsi was born. Consumers will only have to pay gas fees, and to ensure more manageable fees, Pepsi implemented a waitlist process from now until December 14. In homage to the brand’s history, the design of the NFTs are grounded in variations of a microphone visual and inspired by iconic Pepsi flavors including classic blue Pepsi, silver Diet Pepsi, red Pepsi Wild Cherry, black Pepsi Zero Sugar and more. The Pepsi Mic Drop NFT collection was designed b...
Analysts say Bitcoin’s open interest wipeout ‘will give way to further upside’
The weekend is upon us and fear remains the dominant short-term sentiment in the cryptocurrency market. Earlier today Bitcoin (BTC) price dropped to $47,250 and investors are biting their nails after data from the U.S. consumer price index (CPI) shows inflation reaching a forty-year high at 6.8%. Data from Cointelegraph Markets Pro and TradingView shows that a midday push by bulls to reclaim the $50,000 support level was handily defeated and sellers sent the price back below $48,000 which could possibly force another daily lower high for the top-ranked cryptocurrency. BTC/USDT 4-hour chart. Source: TradingView With the prospect of a major run up in price to end the year all but dashed, traders have shifted their attention to managing risk and identifying the best levels to buy dips. ...
Altcoin Roundup: 3 metrics that traders can use to effectively analyze DeFi tokens
Much to the chagrin of cryptocurrency proponents who call for the immediate mass adoption of blockchain technology, there are many “digital landmines” that exist in the crypto ecosystem such as rug pulls and protocol hacks that can give new users the experience of being lost at sea. There’s more to investing than just technical analysis and gut feelings. Over the past year, a handful of blockchain analysis platforms launched dashboards with metrics that help provide greater insight into the fundamentals supporting — or the lack thereof — a cryptocurrency project. Here are three key factors to take into consideration when evaluating whether an altcoin or decentralized finance (DeFi) project is a sound investment. Check the project’s community and developer activity One of the basic wa...
Assembly announces $100M capital raise, receives praise from Iota co-founder Dominik Schiener
On Friday, Assembly, a decentralized layer one smart contract network built within the Iota ecosystem, announced it had raised $100 million from private investors, including LD Capital, HyperChain Capital and Huobi Ventures. The project stated that the funds will be used to accelerate the development of decentralized finance protocols, nonfungible tokens (NFTs) and play-to-earn crypto games. Iota is a blockchain designed for facilitating Internet-of-Things transactions. Its proprietary technology consists of a system of decentralized acyclic graphs that can connect to one another in multiple vectors as opposed to in-series as with a regular blockchain. As a result, one new block can validate two other blocks, leading to self-sustainable transaction verification. This allegedly leads to the...
FLUX, SFP and Badger DAO surge even as Bitcoin price falls to $47K
The year-long mantra that the crypto market would see a blow-off top in December has proven to be a dud thus far and for the last week, most cryptocurrencies have been under sell pressure and Bitcoin (BTC) is encountering difficulty in trading above $47,000. That said, it’s not all bad news for cryptocurrency holders on Dec. 10 because several altcoins have managed to post double-digit gains due to new exchange listings and protocol upgrades. Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets Pro Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were Flux (FLUX), SafePal (SFP) and Badger DAO (BADGER). FLUX benefits from the “Binance bump” Flux is a GPU mineable proof-of-work p...
Finance Redefined: AWS turns crypto exchanges offline, and Sushi CTO resigns, Dec. 3–10
Welcome to the latest edition of Cointelegraph’s decentralized finance newsletter. Although the markets may be down and technical indicators built upon AWS malfunctioning, fear not young degens, fundamental news and the spirit of Wagmi is abundant as ever. So, read on and discover all you need to know about the most important events of this week. What you’re about to read is a shorter, more succinct version of the newsletter. For a comprehensive summary of DeFi’s developments over the last week, subscribe below. AWS outage highlights the need for truly decentralized exchanges. An Amazon Web Service outage this week produced significant cascading effects on the global supply chain and delivery industry, as well as hours-long operational disruptions to decentralized exchange dYdX and le...
Former SushiSwap CTO writes short reflection about leadership failures at blockchain DEX
On Friday, Joseph Delong, former chief technology officer of decentralized exchange, or DEX, SushiSwap, published a brief reflection of experiences during his tenure. Delong unilaterally resigned two days prior, citing internal structural chaos among developers behind the popular DEX. In explaining his decision, Delong outlined failures to scale operations, lack of organization skills, problematic contributors, and poor communication as the primary reasons. On Twitter and among blockchain personalities alike, Delong received mostly praises for coming public with his experience and learning from his mistakes. According to Delong, he did not inform the Sushi community when problems began to surface amongst developers he managed, nor did he engage with users enough to build rapport for the pr...
Don Diablo’s $1.2 Million NFT to Be Displayed Alongside Works By Basquiat, Banksy, Andy Warhol
Don Diablo‘s latest groundbreaking NFT venture comes with a spaceship-like physical structure, the largest to ever be attached to a tokenized collectible sale. The NFT, dubbed “HΞXHIBIT III,” was recently sold to a museum collection that houses original works by the likes of Andy Warhol, Keith Haring, Jean-Michel Basquiat and Banksy. Auctioned off by Sotheby’s for $1.2 million, the project marks a milestone for Diablo and further legitimizes the digital art world in which the EDM producer is an unquestioned pioneer. Don Diablo’s “HΞXHIBIT III” physical NFT. c/o Press Also making history is the scale of “HΞXHIBIT III,” which comes paired with one of the largest physical art pieces to ever be attached to an NFT. ...
Top 3 Decentralized Exchange tokens to buy on December 10: UNI, XLM, and LRC
Decentralized exchanges are growing in popularity. Knowing which tokens to invest in early could give you huge returns. Uniswap, Stellar, and Loopring are worth your attention on December 10. Uniswap is one of the largest decentralized exchanges out there, which is used to exchange cryptocurrencies. It runs on top of the Ethereum blockchain, and UNI is the native cryptocurrency token. Stellar is a network that acts as a decentralized, distributed exchange that allows you to trade and convert assets. The XLM token is its native cryptocurrency token. Loopring is an open-sourced, audited, and non-custodial exchange protocol. LRC is an ERC-20 token that’s native to the protocol. Should you buy Uniswap (UNI)? On December 10, Uniswap (UNI) had a value of $16.14. To see what this valu...
Florida governor’s budget proposal wants to let businesses pay fees in crypto
Florida Governor Ron DeSantis has officially proposed the state government to allow businesses to pay state fees with cryptocurrencies like Bitcoin (BTC). The Republican governor announced the idea as part of his 2022–2023 budget proposal, released on Dec. 9. According to the official budget highlights, DeSantis proposed to provide $200,000 to the Department of Financial Services to offer Florida corporations the ability to “pay state fees via cryptocurrency directly to the Department of State.” “Florida encourages cryptocurrency as a means of commerce and furthering Florida’s attractiveness to businesses and economic growth,” the document reads. DeSantis additionally proposed allocating another $500,000 to explore the potential of blockchain technology to maintain motor vehicle recor...
