Author: NBTC
How do Polkadot’s financial practices, spending $87M with a net loss of $108M annually, compare to FTX’s pre-collapse habits? Table of Contents Public backlash and controversies Are marketing and development Aligned? Could Polkadot collapse like FTX? Polkadot (DOT), one of the early competitors to Ethereum (ETH), has recently come under the spotlight after publishing its latest treasury report. The report revealed that Polkadot spent a whopping $87 million worth of DOT tokens in the first half of this year. This spending spree is double the pace compared to the previous six months, raising eyebrows from observers and investors. The bulk…
DRIFT Labs has integrated Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to enable secure and seamless cross-chain transfers across the BNB Chain, Ethereum, and Polygon networks. This integration highlights Chainlink’s robust security and reliability features. Drift, a leading Web 3 gaming studio, has recently announced the integration of the decentralized blockchain oracle network Chainlink’s Cross-Chain Interoperability Protocol (CCIP). .@TheDriftToken has integrated #Chainlink CCIP across @BNBCHAIN, @ethereum, and @0xPolygon. How the industry-standard unlocks secure cross-chain transfers of DRIFT ↓https://t.co/H4gTOIAkyQ — Chainlink (@chainlink) July 1, 2024 This significant integration opens doors to a more seamless cross-chain transfer for DRIFT’s token. This collaboration enables users…
Mantle EcoFund, launched in July 2023 following a governance vote by the Mantle community, has deployed $5 million in fresh funding to innovative SocialFi and Web3 gaming projects within the Mantle Ecosystem.— Operated by Mirana Ventures, the fund boasts a capital pool of $200 million, positioning itself as one of the largest ecosystem funds in the space. This second capital call highlights Mantle’s dedication to leveraging SocialFi and gaming to onboard the next billion users to Web3.The recent funding beneficiaries include MetaCene, Blade Games, Co-Museum, Fingerlabs, L3E7, and DreamOS. These projects exemplify the transformative potential of SocialFi and gaming applications,…
The U.S. Supreme Court’s recent decision to overturn the Chevron doctrine could complicate legislation to regulate the cryptocurrency industry and stablecoins, according to a note published today by investment bank TD Cowen. The Supreme Court voted 6-3 on Friday to overturn a 40-year-old court decision that allowed federal agencies to interpret laws as they saw fit. This decision was seen as an advantage by many in the crypto industry, suggesting that institutions such as the Securities and Exchange Commission (SEC) will need to tread carefully in the future. Jaret Seiberg, leader of TD Cowen Washington Research Group, said the following…
The crypto market experienced a significant downturn today, with Bitcoin losing over 2.5% and falling below the key $60,000 mark. This decline triggered a widespread sell-off across the market, resulting in an aggregate loss of nearly $100 billion in market capitalization. Amid this market turmoil, an account made a notable withdrawal from Binance, amounting to $59.41 million spread across eight different tokens. The most substantial portion of the withdrawal comprised 9,425 ETH, valued at $30.92 million. Additionally, the account moved 957.7 billion PEPE, worth $9.82 million, and 583.7 billion SHIB, valued at $9.63 million. Other significant tokens included 438,700 RNDR…
A current problem for blockchain networks is the existence of faulty nodes, which affects the way end users interact with decentralized applications (dApps) and presents a hindrance to crypto adoption. Yair Cleper, co-founder of infrastructure provider Lava Network, shared with Crypto Briefing the importance of nodes for the Web3 ecosystem. “When you think about nodes, you think about the basic operation of every transaction, every data written in the blockchains, and it all depends on your requirements. Someone needs to query the blockchain every here and there just to see what’s the account balance, but some are more heavy users…
MicroStrategy Chairman Michael Saylor has shared an epic reaction to Bitcoin’s (BTC) rise on the release of the Consumer Price Index (CPI) data. Michael Saylor’s reaction Saylor posted a picture of Bitcoin with the hashtag “Bitcoin World Order” on the X platform. Kraken Exchange replied to the post, saying, “A Bitcoin future looks bright.” #Bitcoin World Order pic.twitter.com/4w0O6GAWrv — Michael Saylor⚡️ (@saylor) May 15, 2024 As of the latest CoinMarketCap data, Bitcoin is trading at $64,222, representing a 3.98% increase in the past 24 hours. This spike in Bitcoin’s price is quite notable as the cryptocurrency has failed to cross…
In a recent reaction to an X post, Cardano founder Charles Hoskinson has provided a thought-provoking response to a poll concerning the security sustainability of the Cardano network. The poll’s results have sparked a discussion on the economic model that underpins the security of blockchain networks. Rick McCracken Digi, a Cardano SPO, launched a poll on X that asks the ADA community what they would rather rely on to sustain the future security of Cardano. Respondents had two major choices. The first choice was the 2% inflation of ADA rewards, like other blockchains such as Ethereum, Dogecoin and Solana. The…
Stuart Alderoty, chief legal officer at Ripple, recently drew parallels between the internet and crypto following recent decisions made by the U.S. Supreme Court. On July 1, the highest court in the federal judiciary sent several controversial laws pertaining to social media back to lower courts. Hence, there is no final ruling on whether states can prohibit social media companies from moderating content that is being posted on their platforms. The Supreme Court opinion, which was authored by Justice Elena Kagan, says that the record is “underdeveloped,” which is why there is a need for more input from lower courts.…
Binance, the world’s largest cryptocurrency exchange, answered a series of questions about cryptocurrency regulations in Turkey. Binance stated that it listens to its users’ questions and is working to find solutions to their problems. Binance announced that users in Turkey will continue to access Binance.com in accordance with the regulations. However, he stated that some changes will be made in some activities in Turkey in accordance with the law. Among these changes: – Gradual termination of Turkish language support on Binance.com within 3 months, – In English and other supported languages, Turkish users will be able to use Binance.com without…