The judge presiding over the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Ripple has made an unexpected schedule change. James K. Filan, a lawyer closely following the lawsuit, says that Judge Torres has altered the case’s calendar, which previously was slated to head into 2023. “Judge Torres modifies [the] proposed calendar. Motions to exclude …
Monthly archives: May 2022
6 Questions for Dawn Newton of Netki
We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and throw in a few random zingers to keep them on their toes! This week, our 6 Questions go to Dawn Newton, co-founder and chief operating officer of Netki — a remote digital identity verification technology provider intended to …
Go green or go home? What the NY State mining moratorium could mean for crypto industry
On April 26, the State of New York put itself at the forefront of the regulatory struggle with crypto, as its Assembly voted for a two-year moratorium on crypto mining operations that use energy generated by fossil-fuel power plants. Depending on how one looks at it, this development could either signal a new alarming legislative …
NFTs, DAOs and the importance of roadmaps
When CryptoKitties came out, it was hilarious to me. “Wait a second,” I thought. “So, you mean this JPEG can have sex with this JPEG and make a new baby JPEG? Say what?” When CryptoPunks started out in 2017, they seemed silly to many. They were just 128 X 128 pixels. Who cares about that? …
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DeFi Hackers Steal a Record $1.57B in the First 4 Months of 2022, Surpassing the $1.55B total Stolen in 2021
Summary: According to PeckShield, $1.57 billion in digital assets has been stolen from DeFi protocols in the first four months of 2022 This amount has surpassed the total stolen in 2021: $1.55 billion Beanstalk Farm’s $182 million exploit was the highest in April, followed by Fei Protocol at $80 million 2022 could end a record-breaking …
Ethereum Miners Made $87.66M in One Hour During Yuga Lab’s Land Mint on the Otherside Metaverse
Summary: Ethereum miners made $87.664 million in a single hour during the Otherside Metaverse NFT mint, a possible all-time high During the same time period, Ethereum users paid a median fee of $4,830 per transaction Almost 64k Ethereum ($176.66 million) in transaction fees was used during the Otherside Metaverse mint of 55k Otherdeed NFTs Ethereum …
Yuga Labs Proposes that Apecoin Build its Own Chain, After Otherside Mint Slows Down the Ethereum Network
Summary: Yuga Labs has proposed that Apecoin build its own chain This is after the Otherside Metaverse mint caused congestion on the Ethereum network The public sale of 55k Otherdeed NFTs was sold out with more than $300 million raised Roughly 64k Ethereum was consumed in transaction fees during the mint Yuga Labs, the creators …
Ethereum, Cardano, Avalanche and One Additional ETH Rival Are the Top Altcoins for This Cycle, Says Analyst Benjamin Cowen
A closely followed crypto analyst says that leading layer-1 protocols including Ethereum (ETH), Cardano (ADA), Avalanche (AVAX) and Polkadot (DOT) are the standouts for this market cycle. During a discussion on the InvestAnswers YouTube channel, Benjamin Cowen says that Ethereum is definitely his number one choice among layer-1 projects. “I think Ethereum is by far …
ETH gas price surges as Yuga Labs cashes in $300M selling Otherside NFTs
While the community was witness to the largest NFT mint yet, Ethereum (ETH) gas prices rose to unprecedented levels, in addition to users experiencing failed transactions due to blockchain bottlenecks. Bored Ape Yacht Club creator Yuga Labs launched a sale of Otherdeed non-fungible tokens (NFTs) that represents digital land deeds on their new venture, the …
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Liquidity has driven DeFi’s growth to date, so what’s the future outlook?
In mid-February 2020, the total value locked within decentralized finance (DeFi) applications first exceeded $1 billion. Fueled by the DeFi summer of 2020, it wouldn’t even take a year before it multiplied 20-fold to reach $20 billion and only another ten months to reach $200 billion. Given the pace of growth so far, it doesn’t …
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ApeCoin slides 40% in three days despite Otherside metaverse land sale — here’s why
ApeCoin (APE) caught its bulls off-guard with APE price losing nearly 40% in just three days. No dutch auction APE’s price reached its second-highest level, hitting $27.57 on April 28, up more than 2,650% from its mid-March debut. Nonetheless, traders started unwinding their positions after Yuga Labs, the Bored Ape Yacht Club (BAYC) NFT collection’s …
Solana (SOL) Experiences 7hr Outage due to Bots Crowding the Candy Machine NFT Minting Tool
Quick take: For almost seven hours, the Solona network was not processing blocks Bots had swarmed the popular Solana NFT minting tool known as Candy Machine, halting the network The outage started on Saturday around 4:32 pm till around 11 pm EST To prevent a similar outage, the developers at Solana will soon deploy a …
Ethereum core developer to launch Web3 app store for data
We spoke with the co-founder of Laconic, Maly Ly, who has teamed up with Ethereum developer Rick Dudley to create a data app store for web3. The platform intends to solve the problems of “blockchains not having friendly data retrieval APIs for DApps,… data not being signed or retaining cryptographic proofs [and] not coming from …
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Bahrain Central Bank Issues New Regulations Governing Operations of Crowdfunding Platforms
The Central Bank of Bahrain (CBB) has said new regulations compelling operators of crowdfunding platforms to ensure their products are suitable for clients are set to replace existing rules which were first issued in 2017. Segregation of Client Money From Platform Operators The Central Bank of Bahrain (CBB) has issued new guidelines which apply to …
Solana Co-Founder Believes Bitcoin Needs to Change to Proof-of-Stake Consensus to Remain Relevant
Anatoly Yakovenko, one of the co-founders of Solana, the proof-of-stake based, smart contracts enabled blockchain, issued a series of statements criticizing bitcoin’s consensus algorithm. In an interview on CNBC, Yakovenko stated that bitcoin might lose adoption if it doesn’t change to a proof-of-stake (PoS) consensus algorithm. Other organizations have also attacked bitcoin, hinting at this …