Author: NBTC
Last week, U.S. Senators Cynthia Lummis (R-Wyo.) and Kirsten Gillibrand (D-N.Y.) introduced a joint bill addressing how stablecoins could be regulated in the country. It’s the latest effort to try and get something done in the U.S. legislative front – but is it enough? You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for future editions. Last week, U.S. Senators Cynthia Lummis (R-Wyo.) and Kirsten Gillibrand (D-N.Y.) introduced their latest joint bill, this time taking on stablecoins, the $160 billion section of the overall crypto market that’s received…
The Xai Foundation announced Wednesday that it has teamed up with game publisher Mimunga and developer Honig Studios to bring the trading card game The Lost Glitches to the Xai layer-3 Ethereum gaming network built on Arbitrum. Alongside the alliance, The Xai Foundation has also invested an undisclosed sum in the project to help bring it to the gaming network. Decrypt’s GG asked for clarification on the investment, but did not receive an immediate response. “We’ve partnered with Xai due to the tremendous support from its team, who share our vision of creating games that are accessible to all gamers,”…
Bitcoin (BTC) price upside potential appears overstretched, but the bulls are not showing any signs of stopping. Meanwhile, research according to Glassnode points to elevated profit-taking and demand for long side leverage. Bitcoin markets show elevated profit-taking & demand for long-side leverage Bitcoin (BTC) price is on a tear, still northbound after clearing previous peaks. Blockchain data and intelligence platform Glassnode highlighted, “[BTC] has broken to its fourth cycle all-time-high (ATH), rallying above $72k.” The report adds that the move had pushed sentiment a step closer to euphoria. #Bitcoin has broken to its fourth cycle all-time-high, rallying above $72k, and…
EigenLayer, the biggest proponent and implementer of restaking, is starting to get rid of its training wheels. After briefly removing caps on staking with liquid staking tokens (LST), total value locked soared from $2.1 billion to 11.5 billion in ETH used for “restaking.” At its core, restaking is about increasing capital efficiency. ETH is a tremendously widespread and liquid asset, which makes it ideal for bootstrapping new proof-of-stake (PoS) protocols. The deal is simple: New networks get significant security from day one, while ETH stakers get to earn extra on the same assets they already hold. Restaking is quickly achieving…
Flare has announced the onboarding of Hypernative, a leading figure in proactive institutional-grade Web3 security. This initiative aims to offer robust protection to Flare ecosystem participants against zero-day cyber attacks, emerging risks to digital assets, protocol/dApp vulnerabilities, and evolving threats to Web3 users. Web3 attacks are evolving in complexity and originating from a wider array of exploit vectors. As the Web3 industry expands, it becomes a lucrative target for malicious actors worldwide. By joining forces with a renowned Web3 security expert like Hypernative, Flare is bolstering safety measures for all users, dApps, and institutions within its ecosystem. Hypernative’s Cutting-Edge Security…
Investors created a Telegram called “ZKasino Legal Task Force” aiming to prosecute gambling blockchain infrastructure ZKasino co-founders after they swapped nearly $33 million in Ether (ETH) for their native token. After the swap, the co-founders went dark and their groups started banning users that suggested the possibility of an exit scam being executed, according to Rekt News. However, the tension escalated quickly, with a few members venting about the possibility of hiring hitmen to go after the project’s co-founders. Messages from ZKasino investors The controversy started on March 23, when ZigZag Exchange founder Kedar Iyer made a post on X…
Puffverse, a gaming project built around NFT characters minted on Binance’s BNB Chain, announced Wednesday that it will migrate its collections to Ethereum gaming network Ronin, and launch a play-to-earn party game called PuffGo on the network. Alongside the migration news, Puffverse announced a $3 million funding round led by metaverse investment giant Animoca Brands, with participation from Ronin creator Sky Mavis along with Arcane Group, Spartan Group, Foresight Ventures, HashKey Capital, and Xu Family Office. The funds will support development of the flagship party game PuffGo, as well as the creation of a cloud gaming platform for building personalized…
Tim Draper, a venture capitalist famous for his bitcoin price predictions, has praised El Salvador’s vision of embracing this new technology and talked about the benefits of this decision for its people. According to Draper, bitcoin will make El Salvador one of the richest countries in the world in the next 30 or 40 years. Venture Capitalist Tim Draper Praises El Salvador’s Bitcoin Allegiance Venture capitalists and financial analysts are starting to appreciate the view of those who invested in bitcoin in its early stages. Tim Draper, an investor and founder of several venture capital organizations, recently pondered over the…
Data shows the Ethereum Open Interest has been trading at relatively low levels recently. Here’s what this could mean for the asset’s price. Ethereum Open Interest Has Been Moving Sideways Since Its Plunge As explained by an analyst in a CryptoQuant Quicktake post, the ETH Open Interest has followed a similar trajectory as the price of the cryptocurrency recently. The “Open Interest” here refers to the total number of derivative-related contracts open for Ethereum on all exchanges. Related Reading: Dogecoin To $1: Analyst Thinks Dream Milestone Could Be Hit In Coming Weeks When the value of this metric goes up,…
In a significant crypto transaction, a whopping 670,442 Solana (SOL), equivalent to $123.1 million, were transferred between two unknown wallets. The transaction was flagged by the popular crypto tracking service, Whale Alert, via a tweet on social media platform X (formerly Twitter). 🚨 🚨 🚨 🚨 🚨 670,442 #SOL (123,129,096 USD) transferred from unknown wallet to unknown wallethttps://t.co/ThKvlN1MNp — Whale Alert (@whale_alert) April 4, 2024 While the exact rationale behind this massive SOL transfer remains shrouded in mystery, industry experts speculate that this could be indicative of strategic moves by major Solana whales. These whales may be reallocating their assets,…