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Ripple CEO comments on Crypto Leaks, denies funding law firm to target others
Ripple CEO Brad Garlinghouse took to Twitter to deny recent explosive claims made by Crypto Leaks, an online publication focusing on corruption and fraud-related news in the crypto ecosystem. Crypto Leaks published a report on Friday containing a series of short videos from an unknown source. The report claimed that Ava Labs formed a secret pact with the law firm to use the American legal system “gangster style” to “attack and harm crypto organizations.” The same report also alleged that Ripple CEO Brad Garlinghouse funded a law firm to target competitor firms. The report claimed Roche, who founded Roche Freedman, was earlier working with Boies Schiller Flexner, a firm that was representing Ripple in its lawsuit against the United States Securities and Exchange Commission (SEC)....
MAS doesn’t trust retail crypto investments, mulling more regulations
The managing director of the Monetary Authority of Singapore (MAS), Ravi Menon, addressed the agency’s mixed signals on crypto in the public sphere at a seminar on Aug. 29. The public claimed that local regulators were spreading crypto-positive sentiments while simultaneously threatening more regulations. According to the new statement from Menon, the observation is not entirely wrong. He says the agency needs to do “a better job explaining” the situation. Overall, MAS is pro-digital assets, as directly stated by Menon, “yes to digital asset innovation, no to cryptocurrency speculation.” Regulators want the island country to become a hub for fintech innovation and distributed ledger activity. Though according to recent statements, where the problem lies is within cryptocurrenci...
Merch and perfume: Formula One trademark filing paves the way for F1 NFTs
Formula One could introduce nonfungible tokens (NFTs), digital collectibles and cryptocurrency payment support ahead of the inaugural Las Vegas Grand Prix in 2023. F1’s trademark department registered two new trademark filings with the United States Patent and Trademark Office on August 23. The filings outline the trademark and logo for the Las Vegas Strip Circuit and a wide-ranging list of goods and services that the event intends to offer during next year’s race. Of particular interest were specific mentions of NFT and cryptocurrency-related offerings as well as blockchain-powered transactional services. The filing notes NFTs that will represent ownership of a wide variety of real-world items, including vehicle equipment, decorative items, clothing, bags, wallets and even R...
Looks bare: OpenSea turns into NFT ghost-town after volume plunges 99% in 90 days
OpenSea, the world’s largest nonfungible token (NFT) marketplace, has witnessed a substantial drop in daily volumes as fears about a potential market bubble grow. OpenSea volume plummets to yearly lows Notably, the marketplace processed nearly $5 million worth of NFT transactions on Aug. 28 — approximately 99% lower than its record high of $405.75 million on May 1, according to DappRadar. OpenSea users, volume, and transactions statistics. Source: DappRadar The massive declines in daily volumes coincided with equally drastic drops in OpenSea users and their transactions, suggesting that the value and interest in the blockchain-based collectibles have diminished in the recent months. That is further visible in the falling floor prices — the minimum amount one is ready to pay for an NF...
Why interoperability is the key to blockchain technology’s mass adoption
Every year, we see new blockchain networks being developed to tackle specific niches within certain industries, each blockchain having specialized functions based on its purpose. For example, layer-2 scaling solutions like Polygon are built to have ultra-low transaction fees and fast settlement times. The increase in the number of new blockchain networks is also a result of the recognition that there is no one perfect solution that will be able to meet all of the needs associated with blockchain technology all at once. Therefore, as more organizations become aware of this rising technology and its capabilities, the interconnection of these unique blockchains is becoming necessary. What is interoperability? Blockchain interoperability refers to a wide variety of methods that enable many blo...
Calo Metaverse Unveils Burn-to-Earn App Calo Indoor as Its Second Project
Hochiminh, Vietnam, 28th August, 2022, Chainwire Calo Indoor has been revealed as the second project officially incubated by Calo Metaverse. The web3 application combines AR technology with GameFi and SocialFi elements. The Burn-to-Earn (B2E) app rewards users for staying active. Calo Indoor follows Calo Run in being released by the CaloVerse ecosystem. It’s focused on building a system of indoor exercise activities that can be enhanced AR technology. The two apps that have been released under the Calo brand to date tap into the growing trend for incentivized fitness apps. The incorporation of AR technology makes for a more immersive and gamified user experience, with rewards mapping closely to the activity performed. The Calo Indoor app can be installed on smartphone or tablet and no spec...
Top 10 most Googled questions about cryptocurrency and its implication
What people end up searching on Google provides raw insights into the real mindset, often revealing their interest, fear, and range of other emotions about a particular topic. To identify investor sentiment amid a bear market that is yet to find its bottom, Cointelegraph dug deep into the web to find out the most Googled questions about cryptocurrencies. The top 10 Google searches related to cryptocurrencies uncover an increase in curiosity among general investors — represented by two ‘Whys,’ three ‘What’s’ and five ‘How’s.’ Let’s go through the most crypto-related Google searches, from highest to lowest. What is cryptocurrency Even after thirteen years of disruption to traditional finance, the most popular question that general investors ask Google is, “What is cryptocurrency.” With...
The number of crypto billionaires is growing fast, here’s why
Satoshi Nakamoto has more than 1 million BTC, making him the largest Bitcoin holder. He is followed by the founders of Grayscale and Binance, who together have about the same amount of BTC as Satoshi Nakamoto. When looking at the largest Bitcoin holders, there are a few parties that stand out. Of course, Satoshi Nakamoto, with a total of 1,100,000 BTC, has more significant holdings than number two and three holders of Bitcoin, namely Grayscale and Binance. These companies have over 600,000 BTC and 400,000 BTC, respectively, numbers that most Bitcoin investors can only dream of. Behind these top three Bitcoin holders are the cryptocurrency exchanges Bitfinex and OKX, both of which hold over 200,000 BTC. Then, with MicroStrategy and Block.one, there are two more parties that own more than 10...
Bitcoin threatens 20-month low monthly close with BTC price under $20K
Bitcoin (BTC) looked set to equal its lowest monthly close since 2020 on Aug. 28 as bulls failed to take control. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Odds stack up for a deeper dive below $20,00 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD criss-crossing $20,000 with hours until the weekly candle completed. The pair had been unable to make up for lost ground over the weekend, and just days from the end of the month, even $20,000 appeared vulnerable as support. At the time of writing, Bitcoin traded near $19,900 — below June’s closing price. BTC/USD 1-month candle chart (Bitstamp). Source: TradingView “It didn’t matter what kind of lines or squiggles you had on your charts,” on-chain monitoring resource Material Indicators summarized over ...
Rocky road lies ahead, but here’s 5 altcoins that still look bullish
The United States equities markets plunged on Aug. 26 following Federal Reserve Chair Jerome Powell’s speech where he reiterated the central bank’s hawkish stance. Continuing its correlation with the equities market, Bitcoin (BTC) and the cryptocurrency markets also witnessed a sharp selloff on Aug. 26. Bitcoin has declined about 14% this month, making it the worst performance for August since 2015 when the price had dropped 18.67%. That may be bad news for investors because September has a dubious record of a 6% average loss since 2013, according to data from CoinGlass. Crypto market data daily view. Source: Coin360 Although buying in a downtrending market is not a good strategy, traders can keep a close watch on cryptocurrencies that are outperforming the markets because, in case of any ...
Bitcoin mining difficulty set for 8-month record gains despite BTC price dip
Bitcoin (BTC) may have hit six-week lows of under $20,000 but its network fundamentals are anything but bearish. The latest on-chain data shows that, far from capitulating, hash rate and difficulty are making snap gains. Data supports “doozy” difficulty jump Despite being down around 7% in a week, BTC/USD is not putting off miners, who have recently exited their own multi-month capitulation phase. Now, with hardware and competition returning to the network, fundamental indicators are firmly in “up only” mode as August draws to a close. This is neatly captured by difficulty — an expression of, among other things, the scale of competition among miners for block subsidies — which is due to increase by an estimated 6.8% next week. According to data from on-chain monitor...
GameFi investors are now prioritizing fun factor over money: Survey
GameFi, the fusion of gaming and decentralized finance (DeFi), attracts a set of investors that tend to choose projects based on their use case rather than money-generating potential. The GameFi ecosystem attracts GenZ investors and gaming enthusiasts. As a result, it stands as an entry point for numerous first-time investors. A ChainPlay survey participated by 2428 GameFi investors revealed that 75% of the respondents joined the crypto space solely because of GameFi. 3 in 4 respondents joined cryptocurrency because of GameFi. Source: ChainPlay While roughly half of the investors joined the GameFi space initially for profits, 89% of GameFi investors succumbed to Crypto Winter 2022 — with 62% of them losing more than 50% of their profits. GameFi profits are decreasing. Source: ChainPlay How...
