crypto blog
Celsius seeks help from Citigroup and reportedly hires restructuring attorneys
Wall Street Journal reported yesterday that the network is seeking to restructure to survive the financial crisis it is caught in At the start of this week, Celsius announced that it was temporarily halting withdrawal services on its platform Crypto lender, Celsius, has sought the services of ‘restructuring’ attorneys from the international law firm Akin Gump Strauss Hauer and Feld, WSJ reported on Tuesday. The lending firm is exploring the restructuring avenue amid alleged liquidity issues, with the lawyers from the largest US lobbying firm being called to offer assistance. The lawyers will reportedly advise on the financial restructuring path and offer consultation services. However, it is not concluded that this is the firm’s path. Citing unnamed sources in the know, the...
Ankr partners with Optimism to provide a fast and reliable RPC service for users
Ankr, a company that provides one-click node deployment and Web3 infrastructure, has announced that it will become a remote procedure call provider for Optimism. Optimism is an open-source Layer 2 scaling solution for Ethereum that focuses on speed and efficient transactions across the network. It has caught the eyes of many in recent months, including Ethereum co-founder Vitalik Buterin. This is a great example of why I’m so proud of @optimismPBC for adding non-token governance (the Citizen House). Optimism explicitly has goals *other* than just “make OP go up”, and the only way to do that long-term is with explicit representation of non-token-holder interests. pic.twitter.com/vofVVx53mC — vitalik.eth (@VitalikButerin) June 3, 2022 Ankr has assisted many industry leaders...
Former president of the New York Stock Exchange joins Uniswap Labs as an advisor
On Wednesday, Uniswap announced that former New York Stock Exchange president Stacey Cunningham will join the company as an advisor. Cunningham served as the first female president of the New York Stock Exchange after beginning her career as a trader on its floor. She said in a statement that she believes in the potential of Uniswap’s commitment to fairer markets.Uniswap is betting on her experience with TradFi translating over to DeFi to further help them evolve their place in Web3. Cunningham has also been listed as one of BBC’s 100 Women, and joined the NYSE board of directors in December 2021. 1/ We are beyond honored to welcome Stacey Cunningham @stacey_cunning, former president of the New York Stock Exchange @NYSE, as an Advisor to Uniswap Labs. — Uniswap Labs (@Uniswap) J...
Ukraine-based blockchain firm announces ‘we’re still hiring’ amid market downturn, war
Sergey Vasylchuk, the chief executive officer of Ukraine-based decentralized staking provider Everstake, has said the company will continue to hire crypto professionals amid a market downturn and ongoing conflict in the country. In a Wednesday Twitter thread, Vasylchuk said Everstake had hired 30 people since the Russian war against Ukraine started in February, and the firm still had more than 10 positions in marketing and development to fill. According to the CEO, Everstake is “not firing anybody” and had made preparations for a “special fund” to tide the firm over in the event of a bear market. “An important part of doing business is assessing and addressing all potential risks,” said Vasylchuk. “We couldn’t help but expect another market crash simply because risk management dictat...
True Global Ventures doubles down on Web3 with $146M ‘follow-on’ fund
Venture capital firm True Global Ventures 4 Plus (TGV4 Plus) has announced the closure of a $146 million funding round earmarked for a wide range of Web3 projects — highlighting investors’ continued interest in crypto despite an ongoing bear market. The latest closure, dubbed the TGV4 Plus Follow On Fund, was led by a group of 15 general partners who committed over $4 million on average (over 40%, or $62 million) into the fund. The majority of the funding will be primarily injected into Web3 companies within TGV’s portfolio, while the remaining will be used to invest in late-stage Web3 opportunities. TGV previously invested in numerous Web3 initiatives using a base fund dedicated to the late-stage Series A, B and C across three business verticals: entertainment and gaming, financial servic...
Cake DeFi offers hope as uncertainty rocks the crypto DeFi space
This week has been nothing short of “Maniac Week’ for the crypto community as crypto prices continue to fall. Bitcoin (BTC) has been leading the fall and it is currently barely holding above $20,000. Alongside the plunge, crypto services providers are starting to become shaky with a few already being forced to pause services. On Monday, DeFi participants woke to the shocking news that the crypto lending giant Celsius was pausing withdrawals, transfers, and swaps indefinitely and the services are yet to resume to date. There are also rumors that the crypto lender may be insolvent; although the company has not responded to this. But fast forward to Cake DeFi, a Singapore-based staking, lending, and liquidity pool platform that enables users to deposit and earn a yield on a variety of digital...
Ankr Becomes an RPC Provider to Ethereum L2 Scaling Solution Optimism
San Francisco, United States, 15th June, 2022, Chainwire Ankr, one of the world’s fastest-growing Web3 infrastructure providers, is thrilled to announce that it has become an RPC (Remote Procedure Call) provider to Optimism, a blazing-fast and low-cost Layer-2 scaling solution for the Ethereum blockchain. Following this partnership, Ankr is now an RPC provider to 17 blockchains including Ethereum, BNB Chain, Solana, and Avalanche. An RPC enables various applications to interact with the blockchain. Ankr Protocol serves an average of six billion blockchain requests per day across more than 50 networks. Ankr delivers time-tested and high-performance RPC node infrastructure to handle any request load, massively expanding Optimism’s public RPC resources. “Apps and integrations choose to ...
CONSENSUS 2022 HIGHLIGHTS: PlayDapp Makes 3 Major Announcements at the World’s Largest Blockchain Conference
Wilmington, Delaware, 15th June, 2022, Chainwire At The recent Consensus 2022 Conference, The Blockchain Middleware Provider Announced The Launch Of A Metaverse Virtual World, A New Play-to-earn Baseball Game And An Update On PlayDapp – IPX Partnership [embedded content] After two years of running online, Consensus 2022, the world’s largest blockchain conference, finally took place in person last weekend in Austin, Texas, where the focus was non-fungible tokens (NFTs). At this historic event, global blockchain middleware provider PlayDapp made three significant announcements that include: PlayDapp has partnered with Samsung to create Metaverse Virtual World, which will be the first-ever metaverse experience of a theme park Based on the largest theme park in South Korea – Everland Resort, t...
The crypto industry must do more to promote encryption, says Meltem Demirors
“I like to call myself a future, or aspiring, cult leader,” Meltem Demirors, chief strategy officer of CoinShares — a publicly listed investment firm managing around $5 billion in assets — told Cointelegraph. Demirors, who first entered the Bitcoin (BTC) space in late 2012, further mentioned that it has been “fun to see how big the crypto sector has become,” noting that people from all walks of life are now interested in the cryptocurrency space. As such, Demirors explained that “crypto cults” are bringing people together in a positive manner, especially since it gives people a sense of purpose and belonging. When it comes to regulations — one of the most important topics facing the crypto industry today — Demirors expressed skepticism. “Having been in this industry professiona...
Chainlink integrates with Moonbeam to provide price data to Polkadot developers
Decentralized oracle network Chainlink (LINK) has integrated its service called Chainlink Price Feeds to Moonbeam, a smart contract parachain on Polkadot (DOT), to provide data to developers in the platform. In a release sent to Cointelegraph, Chainlink’s team noted that going live on Moonbeam will allow those who build within the platform to access price information that’s compiled and aggregated from many different exchanges. This allows decentralized finance (DeFi) developers to bring price accuracy to their decentralized applications (DApps). Moonbeam founder Derek Yoo mentioned that access to off-chain asset prices has many uses in DeFi, but resistance to attacks and manipulation in price data is hard to achieve. However, the Moonbeam founder believes that Chainlink is abl...
Bitcoin bounces 8% from lows amid warning BTC price bottom ‘shouldn’t be like that’
Bitcoin (BTC) spared hodlers the pain of losing $20,000 on June 15 after BTC/USD came dangerously close to last cycle’s high. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin “bottom” fools nobody Data from Cointelegraph Markets Pro and TradingView showed BTC/USD surging higher after reaching $20,079 on Bitstamp. In a pause from its sell-off, the pair followed United States equities higher on the Wall Street open, hitting $21,700. The S&P 500 gained 1.4% after the opening bell, while the Nasdaq Composite Index managed 1.6%. The renewed market strength, commentators said, was thanks to the majority already pricing in outsized key rate hikes by the Federal Reserve, due to be confirmed on the day. Nonetheless, it was crypto taking the worst hit in...
FINRA may hire employees terminated from crypto firms: Report
The United States Financial Industry Regulatory Authority, or FINRA, reportedly plans to “bulk up” its capability to monitor crypto — a move that could include scooping up employees recently terminated from crypto companies. According to a Tuesday Reuters report, FINRA president and CEO Robert Cook encouraged crypto workers who expect to be on the chopping block to reach out to the financial regulator as part of its efforts to increase resources related to the space. Major crypto exchanges in the United States including Coinbase and Gemini have announced plans to cut staff amid extreme market volatility, likely resulting in the loss of thousands of jobs. “We are already having to be engaged in the space and we think that as a result it’s appropriate for us to bulk up our c...
