Crypto
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Casper Association launches $25M grant to support developers on its blockchain
Scalable blockchain network Casper announced the launch of its new Casper Accelerate Grant Program on Nov. 23, created to support developers and innovators who are building apps to support infrastructure, end-user applications, and research innovation on its blockchain. JUST IN from @nextblockexpo: We’re glad to announce the launch of a $25M Casper Accelerate Grant Program. This fund will support learning, development, and innovations in Infrastructure, #dApps, #DeFi, #Gaming & NFTs. Learn more https://t.co/jClYyYxRVW pic.twitter.com/V8KszHEjM3 — Casper (@Casper_Network) November 23, 2022 The Casper Network is a Proof-of-Stake (PoS) enterprise-focused blockchain designed to help businesses to build private or permissioned apps, aimed at accelerating businesses and the adopti...
Block.one and its CEO become largest Silvergate Capital shareholders
Brendan Blumer, CEO of Block.one, which developed the EOSIO blockchain platform and EOS (EOS) coin, has purchased a stake in Silvergate Capital, the holding company for Silvergate Bank, a crypto-fiat gateway network designed for financial institutions, according to an SEC filing. That document, dated Nov. 23, listed Nov. 16 as the date of the transaction. The purchase of nearly 3 million shares represents 9.27% of Silvergate stock. Blumer purchased 571,351 shares personally, and Block.one purchased 2,363,186. According to CNN, this deal will make them Silvergate’s largest shareholder. @BrendanBlumer founder of EOS buys 9.27% of Silvergate Capital $SI + his company https://t.co/tZqWL2yAx6 buys 7.64%https://t.co/Wh64Odn9Nr — yeezus (@yeezuscapital) November 23, 2022 Block.one raised a record...
Bukele’s government introduced a bill to launch the ‘Bitcoin bonds’
Amid the crypto market downturn, El Salvador finally made a decisive step to the realization of its ambitious “Bitcoin bonds” project. The Minister of the Economy, Maria Luisa Hayem Brevé, introduced a bill confirming the government’s plan to raise $1 billion and invest them into the construction of a “Bitcoin city.” A 33-page digital securities bill, dated Nov. 17, urges lawmakers to create a legal framework using the digital assets in public issuances by El Salvador. They should also consider all the requirements for this procedure and the obligations of issuers and asset providers. The “volcano bonds” or “Bitcoin bonds” were introduced by the government of Nayib Bukele back in 2021. The initial plan proposed issuing roughly $1 billion of those bonds and allocating the raised funds to th...
Crypto awakening: Researcher explains ETH exodus from exchanges
Blockchain analytics carried out by a Nansen researcher has highlighted outflows of Ether (ETH) and stablecoins from centralized exchanges in the wake of FTX’s collapse. Nansen research analyst Sandra Leow posted a thread on Twitter unpacking the current state of decentralized finance (DeFi), with a specific focus on the movement of ETH and stablecoins from exchanges. As it stands, the Ethereum 2.0 deposit contract contains over 15 million ETH, while some 4 million Wrapped Ether (wETH) is held in the wETH deposit contract. Web3 infrastructure development and investment firm Jump Trading holds over 2 million ETH tokens and is the third largest holder of ETH in the ecosystem. The current state of DeFi in @nansen_ai charts — sandra lmeow (@sandraaleow) November 22, 2022 Binance, Kraken, Bitfi...
Bank of Japan to trial digital yen with three megabanks
Despite Japan’s uncertainty on whether to issue a central bank digital currency (CBDC), the Bank of Japan (BoJ) continues experimenting with a potential digital yen. The Japanese central bank has started a collaboration with three megabanks and regional banks to conduct a CBDC issuance pilot, the local news agency Nikkei reported on Nov. 23. The pilot aims to provide demo experiments for the issuance of Japan’s national digital currency, the digital yen, starting in spring 2023. As part of the trial, the BoJ is expected to cooperate with major private banks and other organizations to detect and solve any issues related to customer deposits and withdrawals on bank accounts. According to the report, the pilot will involve testing the offline functionality of Japan’s possible CBDC, targeting ...
DeFi protocol raises $10M from Bitfinex, Ava Labs despite turbulent market
The ongoing crypto bear market has proven itself to be a builders market as investments continue to find projects with promise. Onomy, a Cosmos blockchain-based ecosystem, just secured millions from investors for the development of its new protocol. The project merges decentralized finance (DeFi) and the foreign exchange market to bring the latter on-chain. According to the developers, the latest funding round garnered $10 million from big industry players such as Bitfinex, Ava Labs, the Maker Foundation and CMS Holdings among others. Lalo Bazzi, co-founder of Onomy, said the underlying goal of building a decentralized autonomous organization with a public infrastructure should serve the “core tenant of crypto — self-custody — without sacrificing on the user experience.” Both DeFi and self...
Utility Token Metacade (MCADE) is a Solid Long-Term Buy, Investors Say
The cryptocurrency market has gone through a painful bear market but investors are looking for the best projects to lead the next bull run. A new project called Metacade taps into the meme token power of play to earn (P2E) gaming and the metaverse and the project’s MCADE utility token could be a great opportunity for crypto investors. What is Metacade? Metacade is set to be a brand new Web3 community where gamers and crypto fans can meet, to communicate and collaborate on the best metaverse games. The project is seeking to build a fun, dynamic meeting place where gaming enthusiasts can become absorbed in the latest GameFi trends and earn rewards. One of Metacade’s key goals is to create the world’s first community-driven, play-to-earn arcade and that positions it well to be a potent r...
Genesis calls in restructuring expert in its fight to avoid bankruptcy
Cryptocurrency lending firm Genesis Global Capital has reportedly hired a restructuring adviser to explore all possible options that include, but aren’t limited to, a potential bankruptcy. It is understood that the firm has hired investment bank Moelis & Company to explore options, while people familiar with the situation have stressed that no financial decisions have been made and that it is still possible for the company to avoid a bankruptcy filing, according to a New York Times report on Nov. 22. Interestingly, Moelis & Company was also one of the firms engaged by Voyager Digital after it suspended withdrawals and deposits on Jul. 1 in order to explore “strategic alternatives.” Days later, Voyager Digital filed for Chapter 11 bankruptcy in the Southern District Court of N...
Institutional investors are buying through crypto winter: Survey
A survey of institutional investors suggests that their cryptocurrency allocations have increased over the last year despite the industry going through a prolonged crypto winter. A Coinbase-sponsored survey released on Nov. 22 conducted between Sep. 21 and Oct. 27, found 62% of institutional investors invested in crypto had increased their allocations over the past 12 months. In comparison, only 12% had decreased their crypto exposure, indicating most institutional investors may be bullish on digital assets in the long term despite prices falling, according to the survey. More than half of the investors surveyed said they were currently, or planning, to use a buy-and-hold approach for cryptocurrencies, with the belief that crypto prices will stay flat and range bound over the next 12...
‘Metaverse’ a top 3 contender for Oxford’s Word of the Year
The word “Metaverse” is one of three in the running to be crowned the Oxford “Word of the Year” (WOTY) in a competition run by the Oxford University Press (OUP), the publisher of the Oxford English Dictionary. OUP officially announced the launch of the competition and its three finalist words for 2022 on Nov. 22 with this year marking the first time the public can participate in voting for the WOTY. “Metaverse” will compete against the terms “#IStandWith” and “Goblin Mode”. 1️⃣ metaverse Usage increased as we discussed #hybrid working, debated the ethics, and wondered about the feasibility of an entirely online future. pic.twitter.com/Lk0pLfc1mW — Oxford University Press (@OxUniPress) November 22, 2022 In OUP’s video pitch for the Metaverse, it described it as “a hypoth...
Cybercrooks to ditch BTC as regulation and tracking improves: Kaspersky
Bitcoin (BTC) is forecasted to be a less enticing payment choice by cybercriminals as regulations and tracking technologies improve, thwarting their ability to safely move funds. Cybersecurity firm Kaspersky in a Nov. 22 report noted that ransomware negotiations and payments would rely less on Bitcoin as a transfer of value as an increase in digital asset regulations and tracking technologies will force cybercriminals to rotate away from Bitcoin and into other methods. As reported by Cointelegraph, ransomware payments using crypto topped $600 million in 2021 and some of the biggest heists such as the Colonial Pipeline attack demanded BTC as a ransom. Kaspersky also noted that crypto scams have increased along with the greater adoption of digital assets. However, it said that people have be...
Shiba Inu developer says WEF wants to work with project to ‘help shape’ metaverse global policy
The volunteer project lead and developer for Shiba Inu known only as ‘Shytoshi Kusama’ has reported on social media that the World Economic Forum, or WEF, wants to work with the meme-based cryptocurrency on global policy. In a poll posted to Twitter on Nov. 22, Kusama said the WEF had “kindly invited” the Shiba Inu (SHIB) project to collaborate on “MV global policy.” The Shiba Inu developer seemed to be referring to policy on the metaverse. Crypto and blockchain have sometimes been under discussion at WEF events, but partnering with a popular meme token would seemingly be a first for the organization. “Yes I am serious,” said Kusama. “We would be at the table with policy makers and would help shape global policy for the MV alongside other giants like FB (bye Zuck), Sand, Decentraland etc.”...
