The news is good for traditional investors, but bad for metaverse and NFT hopefuls. 2 min read Updated: February 2, 2023 at 1:33 am Cover art/illustration via CryptoSlate Meta — formerly Facebook — reported positive news for general investors but bad news for those interested in its virtual reality (VR) division in its Feb. 1 …
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Non-fungible token (NFT) sales increased 41.96% from the previous month, according to data recorded on Feb. 1, 2023. NFT sales reached nearly $1 billion in 30 days, with an approximate total of $997.53 million. Additionally, the number of digital collectible transactions rose more than 22% in the past month. Bored Ape Yacht Club Dominates, Ethereum …
According to research from Recap, a cryptocurrency tax software company, London has become the world’s leading hub for cryptocurrencies. The researchers analyzed eight indicators, including the number of cryptocurrency businesses and the quantity of cryptocurrency ATMs in each country. Key Findings of Recap’s Study on Global Cryptocurrency Hubs Crypto tax firm Recap released a research …
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Meta founder and CEO Mark Zuckerberg says the company has no plans to change its long-term strategy for the Metaverse, despite operating losses for its Reality Labs business peaking in 2022. Meta’s Q4 earnings released on Feb. 1 show Reality Labs lost $13.7 billion in 2022 — the largest ever yearly losses recorded for its metaverse-building division. …
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The price of Bitcoin (BTC) broke through the $24,000 ceiling and the total crypto market cap jumped nearly 4% following a speech from United States Federal Reserve Chair Jerome Powell in which he suggested the economy’s disinflationary process has started. “We can now say, I think for the first time, that the disinflationary process has …
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Litecoin (LTC) is rallying with big support from shark addresses that have accumulated more than $108 million worth of the token within months, according to Santiment. Crypto analytics firm Santiment says shark addresses have “aggressively” accumulated the token since July 2022, helping to push it toward $100. “Litecoin has now rallied its price up +89% …
A new decentralized stablecoin based on smart contract platform Cardano (ADA) is quickly gathering millions of ADA in its reserves. According to data from Djed (DJED), the new stablecoin has seen a parabolic rise in its reserve assets, leaving it overcollateralized as intended. The data shows that DJED has a 591% reserve ratio with just …
A small-scale decentralized autonomous organization (DAO) has suffered a rather sizeable smart contract exploit leading to an estimated $120 million being stolen from its protocol. BonqDAO, which is behind the Bonq protocol, told its Twitter followers on Feb. 1 that its protocol was exposed to an oracle hack that allowed the exploiter to manipulate the …
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Ethereum’s next big upgrade, Shanghai, is on the horizon for March. The Shanghai hard fork will implement further improvement proposals for the Ethereum network as well as enable Ether (ETH) stakers and validators to withdraw their assets from the Beacon Chain. At the time of writing, staked ETH represents approximately 14% of the total supply, …
A proposed class action suit against cryptocurrency exchange Coinbase, Coinbase Global and CEO Brian Armstrong alleging unregistered securities sales was dismissed in the United States District Court of Southern New York on Feb. 1. The suit, filed on March 11, claimed that 79 of the tokens listed on Coinbase were securities being sold without proper …
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The FTX saga and the developments that led to the crypto exchange’s collapse will be framed in a new documentary focusing on the volatile relationship between Sam Bankman-Fried and one of his fiercest critics, Binance founder Changpeng Zhao. According to The Hollywood Reporter, the production is a partnership between media outlet Fortune and Unrealistic Ideas, …
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Cathie Wood’s Ark Invest recently released its Big Ideas report. The report delved into various aspects of public blockchains and digital wallets, among other things. The asset manager believes that Bitcoin could be worth more than $1 million by 2030. Public blockchains were presented as the future of money and contracts. Ark Invest, the American …
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Xborg, the web3 gaming organization from Swissborg, announced on Feb. 1 that it is launching a web3 esports league entitled Xtreme Championship Series with a $100,000 USDC prize pool. The league will include web3 games Axie Infinity, The Harvest, Gods Unchained, Spider Tanks, and ev.io with no sign-up fee or other barriers to entry. Three …
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The attacker breached user “Troves” on the related platform Bonq. 1 min read Updated: February 1, 2023 at 10:43 pm Cover art/illustration via CryptoSlate AllianceBlock has been attacked in a multi-million dollar exploit, according to a Feb. 1 announcement by the DeFi project. That report indicates that an attacker gained access to 110 million ALBT …
Sam Bankman-Fried will attempt to counter the ruling next week. 2 min read Updated: February 1, 2023 at 10:40 pm Cover art/illustration via CryptoSlate Federal judge Lewis Kaplan has imposed communication restrictions on former FTX CEO Sam Bankman-Fried, as seen in a Feb. 1 court filing. The ruling imposes two restrictions. First, Bankman-Fried will be …
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