Day: November 22, 2021

Law Decoded: Constitutions of the future will be ratified by DAOs, Nov. 15–22

An online initiative to secure a rare copy of the U.S. Constitution shows the power of Web 3.0 collective action. A haphazardly assembled online group of passionate people who formed a decentralized autonomous organization, or DAO, and pooled a spectacular amount of Ether (ETH) for a noble cause came tantalizingly close to pulling off an incredible feat of collective action. While they fell short of reaching their main goal — securing the last privately owned print copy of the United States Constitution’s first edition in order to make it available to…

Ethereum in full deflation mode as Eth2 merge gets closer

The Ethereum community has been hard at work over the past few years, laying the foundation for its shift away from its current proof-of-work (PoW) algorithm which has formed the backbone of the blockchain’s operation up until today. Ethereum’s switch to its proof-of-stake- (PoS-) powered Ethereum 2.0 chain is edging closer to reality, with recent updates to its blockchain resulting in the issuance of Ether (ETH) becoming deflationary. Recent upgrades have resulted in deflationary issuance of ETH, where the burning of a portion of transaction fees has surpassed the issuance…

Bitcoin Whale Wallet Containing 1,299 BTC Activates After Eight Years

A bitcoin whale wallet has been reactivated after almost a decade of dormancy. Wallets being reactivated after long periods of dormancy are no longer new to the market at this point. These whale wallets usually carry tens of millions to hundreds of millions worth of BTC by the time the owners of the wallet reactivate them. Bitcoins like these were acquired at very low prices but the market uptrend in the past couple of years has turned what were initially thousands of dollars into millions. This is the case with…

Algorand Project Raises $3.6M to Make Cross-Chain DeFi Friendly for Big Investors

“The way Ethereum DeFi was built, every team tackled a separate vertical such as lending and borrowing, perpetuals or DEXs [decentralized exchanges],” C3 founder Michel Dahdah said in an interview. “But having all these different financial products isolated in terms of how they manage collateral makes it impossible for them to cross margin, meaning the collateral you’re using to borrow money for shorting, for example, can’t be used to also open a long position in a perpetuals financial product.” Source

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Crypto startup MoonPay raises $555M to hit $3.4B valuation

Cryptocurrency fintech startup MoonPay has closed its first-ever venture capital round, reaching $3.4 billion in post-money valuation. The firm officially announced Monday that it closed a $555 million Series A funding round led by prominent industry investors like American investment firm Tiger Global and tech-focused investment manager Coatue. Other participants included Blossom Capital, Thrive Capital, Paradigm, and the New Enterprise Associates venture capital firm. The raised capital is the first funding secured by MoonPay in 2.5 years since the company was founded in 2019 by two young entrepreneurs, Ivan Soto-Wright…

Former Tron Exec Launches Play-to-Earn ‘Mafia’ Game With Twitch Co-Founder’s Backing

“Syn City,” a play-to-earn mafia game founded by TRON’s former head of business, Roy Liu, announced an $8 million funding round on Monday. The round was led by Twitch co-founder Justin Kan and Goat Capital, with additional backing from A&T Capital, Hack VC, Animoca Brands and Spartan Group. The game joins the growing list of free-to-play titles entering the play-to-earn space, prioritizing accessibility as Web 3 gaming makes a push for mainstream adoption. Syn City will center its planned “Mafia Metaverse” around a surfeit of blockchain-based integrations, including a governance…

Former Oilfield Drillers See Energy Sector and Bitcoin Mining Joining Forces

Drilling for oil and gas and mining for bitcoin might seem like an odd couple. One is more than 150 years old. The other has existed for a little over a decade. One is a staple of industrial development, squarely grounded in the world of atoms. The other is an innovation of a digital era, financial plumbing for the world of bits. One involves sweaty outdoor work. The other involves a lot of math and abstraction inside cavernous air-conditioned data centers. If the founders of bitcoin miner JAI Energy are…

Introducing the New Tool for Traders… Commando by Decentrader

Ready to take your trading to the next level? We all know how hard it can be to navigate the crypto market as a trader. Too many potential opportunities and risks. It is simply not possible to chart up hundreds of tokens every hour of every day. So opportunities get missed and lots of them. Many of those opportunities are capitalized on by hedge funds using algorithms worth millions of dollars to out-smart the average retail trader – which is happening all the time, whether you realize it or not.…

President Biden picks Jerome Powell to be next Fed chair

President Joe Biden has tapped Jerome Powell to serve another four-year term as the chair of the Federal Reserve System’s Board of Governors. In a Monday announcement, the White House announced President Biden will be nominating Powell as his pick to lead the Federal Reserve once his current term ends in February. The executive branch cited Powell’s “decisive action” in lessening the economic impact brought on by the pandemic as well as the creation of 5.6 million jobs and a 4.6% unemployment rate. In addition, Biden chose current Fed board…