Crypto news
Crypto on-chain crime drama sees the good guys finally win
The stories about people getting their private keys hacked or stolen are nothing new, with a number losing their life savings because of these thefts. However, in quite an anti-climax scene, a crypto user managed to save their crypto holdings despite losing their private keys. Harpie, an on-chain security firm, revealed an instance of on-chain crime drama where the good guys eventually won. One of the users in their Discord group reportedly raised concerns about the suspected theft of their private keys. When the firm looked into said customer’s wallet, someone was indeed trying to transfer funds from the victim’s accounts. How did we do this? About a month ago, this user protected their tokens with Harpie. By approving and protecting their tokens with Harpie, this user gave us permis...
Alaska adds ‘virtual currency’ to its regulatory regime
From Jan. 1, 2023, the term “virtual currency” will take its place in the money transmission regulations of Alaska. It will oblige the companies dealing with digital currencies to obtain a money transmission license in the state. As reported by the law firm Cooley on Dec. 19, the state of Alaska amended its money transmission regulations to include the definition of “virtual currency.” According to the amendment to the local Administrative Code, adopted by the Division of Banking and Securities (DBS), the virtual currency is: “[A] digital representation of value that is used as a medium of exchange, unit of account, or store of value; and is not money, whether or not denominated in money.” The most obvious impact of this change, which will come into force on Jan.1, is the requirement...
4 legislative predictions for crypto in 2023
If you saw the returns in my crypto portfolio this year, you would take a pass on my predictions for the direction of the cryptocurrency market. So, I will stick to what I know and share some regulatory predictions for the crypto industry. Few legislative changes A few minor victories will logroll small legislative fixes into “must pass” bills like the defense authorization or omnibus spending bills. The top candidate would be a de minimis exemption for smaller crypto transactions to exempt users from capital gains tax liability every time they purchase a coffee with crypto. The protection for noncustodial crypto providers in Republican Representative Tom Emmer’s bill might make it in as well. On the outside, a bipartisan stablecoin bill may be possible, though Senate Democrats are still a...
Uniswap to allow users to buy cryptocurrency using debit and credit cards
Decentralized exchange Uniswap has partnered with fintech company Moonpay to allow users to buy cryptocurrency on its web app using debit cards, credit cards, and bank transfers. The bank transfer option is being rolled out for users within most U.S. states, Brazil, the United Kingdom and the Single Euro Payments Area, also known as SEPA. In the announcement made on Dec. 20, Uniswap shared that its users will now be able to convert fiat to cryptocurrency on the Ethereum mainnet, Polygon, Optimism, and Artibrum in a matter of minutes. 1/ Go direct to DeFi Starting today, you can now purchase crypto on the Uniswap Web App using a credit/debit card or bank transfer at the best rates in web3 thanks to our partnership with @moonpay! https://t.co/YVyk8e6d2h — Uniswap Labs (@Uniswap) Decemb...
Who has returned donations or contributions from FTX amid the firm’s reputational risks?
Before its downfall, crypto exchange FTX and its then-CEO Sam Bankman-Fried had been some of the most prolific spenders in the space, bailing out crypto firms and donating to political campaigns and media outlets. With more than 1 million FTX creditors looking to be made whole, what’s happening with these funds? Bankman-Fried said in May he had been willing to donate between $100 million and $1 billion to lawmakers as part of elections in 2024. Bloomberg reported on Dec. 12 — hours before SBF’s arrest in the Bahamas — that his total donations could be at least $73 million, given directly to candidates or through political action committees (PACs). Though many of Bankman-Fried’s and FTX’s donations to Democrats were noted with the Federal Election Commission as part of the public reco...
SBF signs extradition papers, set to return to face charges in the US
Sam Bankman-Fried, the jailed founder of the FTX cryptocurrency exchange has reportedly signed papers on Dec. 20 that will soon see him handed over to Federal Bureau of Investigation (FBI) agents and flown to the United States to face criminal charges. The move was expected, as Bankman-Fried was reported to have agreed in principle to being extradited to the U.S. earlier this week on Dec. 19, despite earlier reports indicating he wanted to see the indictment against him fir ABC News reported the development that Bankman-Fried signed extradition papers on Dec. 20 citing The Bahamas’ acting commissioner of corrections Doan Cleare. A Dec. 21 report from Bloomberg said the exchange founder signed surrender documents on Dec. 20 citing Cleare, with another set of papers waiving h...
Polygon and Metacade: Two 50x opportunities for 2023
Bearish times in the market are typically when the newest batch of crypto millionaires are made. People have started speculating and trying to figure out which cryptos are next in line to go to the moon. This article is all about uncovering two tokens that have extremely high growth potential. Polygon (MATIC) and Metacade (MCADE) each have the potential to drive the GameFi sector forward. At the moment, both tokens are extremely underpriced and poised for some meteoric growth. In this article, we’ll be discussing the Metacade and Polygon price predictions and show exactly why these projects are so valuable to the GameFi revolution. What is Polygon? Polygon (MATIC), formerly Matic Network, is a decentralised platform that allows for the instant, secure, and trustless deployment of Ethereum-...
My Neighbor Alice Successfully Released Its Game Version 2.0 To Mainstream Audience
Stockholm, Sweden, 20th December, 2022, Chainwire My Neighbor Alice is a blockchain-based social game that has been popular among its users since its initial release and has now launched version 2 to mainstream audiences. My Neighbor Alice successfully released its game version 2.0 to the mainstream audience on December 16, 2022. The online game was released in June 2022 after a successful nine-month pre-alpha stage in September 2021. The game has been growing in popularity ever since its release. My Neighbor Alice is a multiplayer builder game that allows players to build and manage virtual lands, interact with neighbors, and perform exciting daily activities while earning in-game rewards. The fully decentralized social game functions completely on blockchain technology, bringing diverse ...
What it’s actually like to use Bitcoin in El Salvador
I attempted to spend two weeks travelling in El Salvador living on Bitcoin. I tried to pay for every single thing with Bitcoin, or Satoshis, small amounts of Bitcoin. Spoiler alert, I failed. Outfoxed by car hire companies (fortunately my car of choice was not Fiat); stubborn restauranteurs, a parking meter, pupusas, and a fancy dress shop where I was obliged to purchase a multicoloured wig with a $5 bill, I could not survive in “Bitcoin Country” on Bitcoin alone. So where did I go wrong? How did this happen? Isn’t El Salvador supposed to be Bitcoin Country? Is Bitcoin broken? Am I a scammer? First up, there’s no denying: El Salvador is unashamedly a Bitcoin destination. From Bitcoin conferences, big name Bitcoiners, ubiquitous “Bitcoin accepted here” signs, a laser eyed ...
Bitcoin miner Greenidge signs $74M debt restructuring agreement with NYDIG
According to a Dec. 20 filing with the United States Securities and Exchange Commission, Bitcoin (BTC) miner Greenidge has reached an agreement with its creditor, fintech firm NYDIG, to restructure approximately $74 million worth of debt. The deal, in the form of a non-binding term sheet, would result in a major change to Greenidge’s current business strategy, essentially transforming Greenidge from self-mining to hosting NYDIG’s mining rigs. Under the agreement, NYDIG would purchase miners with approximately 2.8 exahashes per second (EH/s) of mining capacity to be hosted by Greenidge, which would facilitate NYDIG’s rights to a mining site within three months following the completion of debt restructuring and hosting agreements. In exchange for consideration amounting to the purchased...
Former Diablo Immortal devs pick ImmutableX for upcoming Web3 MMORPG
Developers behind popular video games such as Far Cry and Diablo Immortal are making use of blockchain technology to build a new Web3 MMORPG. Independent gaming developer Metaverse Game Studios, which boasts a host of developers that have worked on various AAA titles, has announced a partnership with Web3 development platform ImmutableX to continue building Angelic. The upcoming title is powered by Unreal Engine 5 and is touted as a dark science fiction-themed narrative strategy RPG featuring turn-based combat. A story-driven single player campaign and a free-to-play multiplayer metaverse suggest a broad offering for gamers that are looking for a AAA-level Web3 gaming experience. ImmutableX’s full-stack gaming platform will power Ethereum-based nonfungible tokens (NFTs) digital collectible...
Blockchain VC funding surpasses 2021 total despite declining since May
It’s been a tough year for crypto, and venture capital activity confirms it. The collapse of FTX in November was the latest and most shocking in a series of closures of key market players this year — including Celsius, Voyager and BlockFi — that have shaken investor sentiment and wiped out $1.5 trillion in market capitalization from cryptocurrency space. Blockchain venture capital funding has been on a downward slope since May 2022, and November was no different, with inflows declining even further. However, the total capital inflows for 2022 have surpassed 2021 by almost $6 billion. According to Cointelegraph Research, VC funding declined 4.8% in November, totaling $840.4 million — down from $843 million in October. The Cointelegraph Research Terminal’s Venture Capital Database — which co...
