Day: December 23, 2021

A Croissant Explains Web3 And NFTs To Elon Musk

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The debate over ownership in Web3 has waxed on stronger as prominent figures like Elon Musk and Jack Dorsey have continued to fan the flames. This has prompted those in the space to come to the defense of Web3 and provide much-needed explanations about Web3. One of those is a croissant on Twitter which makes informative threads revolving mostly around Ethereum. This time around, the croissant replied to SpaceX CEO, Elon Musk, regarding his stance on Web3. Musk had posted a tweet mocking the innovation asking if anyone had seen…

3 embroidery artists weave NFT charity drop to help victims of human trafficking

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Three embroidery artists — Russia’s Katerina Marchenko, Brazil’s Aline Brant and Ninni Luhtasaari of Finland — announced Thursday that they will be auctioning their nonfungible token (NFT) art pieces to support Hope for the Future (HFTF), a registered charity based in Austria. Proceeds from the auction will help victims of human trafficking find entry-level work positions after their harrowing experiences. Katerina Marchenko embroidering. Source: Katerina Marchenko The NFT sale will take place on Orica between Dec. 27–30, with each piece having a floor price of $500. The auction’s goal is to…

US lawmaker planning to introduce comprehensive crypto bill in 2022: report

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Wyoming Senator Cynthia Lummis, one of the United States lawmakers behind many pro-crypto pieces of legislation, is planning to introduce a comprehensive bill next year to handle digital assets.  In a Thursday report, Bloomberg said Lummis’ proposed bill aimed to provide regulatory clarity on stablecoins, guide regulators as to which cryptos belong to different asset classes and offer consumer protections. In addition, the U.S. senator reportedly proposed creating an organization under the joint jurisdiction of the Securities and Exchange Commission and the Commodity Futures Trading Commission to oversee the crypto…

What Jack Dorsey’s Beef With ‘Web 3′ is Really About

Since officially leaving Twitter, now full-time Block (formerly Square) CEO Jack Dorsey has become immensely more vocal and opinionated about blockchain and cryptocurrency debates. That’s a really great way to get entangled in extremely heated online fights – and wouldn’t you know it, Dorsey’s aggressive dismissal of “Web 3″ as nothing more than a venture-capitalist (VC) enrichment scheme has turned into a vicious airing of grievances, just in time for Festivus. But many new entrants who have become interested in crypto over the past two years are left scratching their…

5 Ways Money Was Reimagined in 2021

In 2021, that blissful ignorance suddenly became impossible. We first saw this with the debate over the infrastructure bill, most importantly in the U.S. Senate, when the impositions of a contentious tax reporting provision for cryptocurrency sales had the ironic effect of demonstrating that crypto had arrived in Washington. The fact that legislators wanted to tax crypto was a sign that it was recognized as a long-term prospect, a reliable source of tax revenue. Just as importantly, the crypto lobby, though ultimately unsuccessful in its bid to force changes to…

PwC Hong Kong purchases land plot in The Sandbox

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PwC Hong Kong, an international subsidiary of the global PricewaterhouseCoopers (PwC) organization, announced Thursday its emergence in the metaverse space with the acquisition of LAND in the popular world The Sandbox. Though the cost of its LAND asset was undisclosed, it was noted that PwC Hong Kong intends to construct a Web 3.0 advisory hub to facilitate a new generation of professional services, including accounting and taxation. The global organization PwC, headquartered in London, U.K., documented revenues of $45 billion from June 2020 to June 2021, up 2% from the previous…

New Altcoin Built on Ethereum Soars After Receiving Burst of Support From Two Major Crypto Exchanges

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An altcoin that helps holders optimize their yields is surging after two top cryptocurrency exchanges gave it the green light. Convex Finance (CVX) is a decentralized finance (DeFi) protocol built on top of stablecoin exchange Curve Finance (CRV). Its native token is used for staking, liquidity mining, and voting. Both Binance and Huobi Global have added CVX to their roster, causing the altcoin to surge. CVX is trading for $40.61 at time of writing, a 19.2% increase on the day. The token will appear in Binance’s Innovation Zone and Huobi’s…

Quant Explains How Large Bitcoin Leverage Ratio Can Help Turnaround Price

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A quant has explained how the current large Bitcoin leverage ratio values can help bring a turnabout to the crypto’s price. Bitcoin Leverage Ratio Rises To Values Greater Than During The ATH As explained by an analyst in a CryptoQuant post, the massive leverage ratio right now might help BTC’s price reverse its trend. The “Bitcoin leverage ratio” is an on-chain indicator that is defined as the open interest divided by the (derivative) exchange reserve. Here, the “open interest” is a measure of the amount of futures contracts currently open…

Terra (LUNA) hits record $20B TVL, surpassing Binance Smart Chain

Terra (LUNA), an open-source stablecoin network, hit an all-time high of $20.05 billion in total value locked, or TVL, across its 13 product offerings, according to industry data. On Dec. 1, Terra’s TVL was at $11.9 billion, signifying a 68% increase in less than a month. This means that the platform’s users are investing in large quantities into the protocol to receive staking rewards.  The price of LUNA, Terra’s native token, is also steadily trending upwards, trading above $94 with a 31% increase in one week, according to Cryptox Markets…

Digital wallet wars are the new browser wars

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Most people might not remember that websites once had icons that said, “This site has been optimized for Internet Explorer,” but, two decades ago, it wasn’t uncommon. Just like today’s battle between Web 2.0 monopolies and Web 3.0 communities, at the beginning of the early consumer internet, there was a similar battle waged over who would own the portal to it: A closed-source global monopoly, or an open-source nonprofit. A battle for the soul of the internet Long before Web 3.0, the browser wars defined the early internet. Netscape Navigator…