Day: January 13, 2022

Crypto heavyweights back inflation-resistant savings protocol

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Fintech startup Seashell has raised $6 million in seed investments from some of crypto’s biggest venture funds and project founders as it seeks to build out an inflation-resistant finance app — a timely initiative as consumers struggle with the pressures of rising costs.   The investment round was co-led by Khosla Ventures and Kindred Ventures, with additional participation from Robinhood co-founder Vlad Tenev, billionaire investor Mark Cuban, former U.S. Commodity Futures Trading Commission Chair J. Christopher Giancarlo and Coinbase Ventures. The founders of crypto-focused projects Terra, Polygon, Avalanche and Solana were…

GAIMIN Brings Blockchain and NFTs to Minecraft – Press release Bitcoin News

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press release PRESS RELEASE. Zug, Switzerland, 13th January 2022: As part of its strategic business objective to become the leading gaming technology company, GAIMIN announces a plug-in and metaverse environment that enables blockchain technology and NFTs to be used within Minecraft. GAIMIN has developed a gaming and technology platform that delivers blockchain and NFT technology to gamers and game studios whilst providing a mechanism for gamers to passively generate rewards based on the processing power of their gaming PC. The GAIMIN platform incorporates a Windows-based software application to allow users/gamers…

Swiss central bank tests wholesale CBDC with commercial partners

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Switzerland took another step to clarify the roadmap for integrating central bank digital currencies (CBDC) into the current financial system.  The Swiss National Bank (SNB), the country’s central bank, completed the second phase of Project Helvetia with its partners by integrating wholesale CBDC into the existing back-office systems and processes of five banks, namely Citi, Credit Suisse, Goldman Sachs, Hypothekarbank Lenzburg and UBS. The Bank for International Settlements and Swiss financial infrastructure service provider SIX joined as partners of SNB in Project Helvetia Phase II, which took place during the fourth…

Near Raises $150M From Major Crypto Investment Firms

On Thursday, the Near Foundation announced the close of a $150 million funding round. Su Zhu’s Three Arrows Capital led the private token sale, with participation from major crypto-focused funds including Mechanism Capital, Dragonfly Capital, Andreessen Horowitz (a16z), Jump, Alameda, Zee Prime and Amber Group, among others. Source

Crypto exchange Gemini pushes into wealth management with acquisition of BITRIA

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David Abner, Gemini’s Global Head of Business Development. Source: David Abner Gemini, the $7.1 billion crypto exchange, is getting into wealth management with the acquisition of a digital asset platform for financial advisors, CNBC has learned exclusively. The company has agreed to purchase BITRIA, a five-year-old San Francisco-based start-up whose tools help advisors manage holdings of bitcoin and other tokens, according to Gemini’s global head of business development Dave Abner. The move creates one of the industry’s first full-service digital asset custodians for advisors, according to Abner, who declined to…

Could These Products Tame Crypto’s Volatility Beast?

“If you look at any two years since the digital asset ecosystem emerged, there’s no period where if you held the investment you would have lost money on it,” he said. “Most actively traded risk-mitigation strategies don’t actually outperform just holding an investment. Yes, we see a lot of volatility, but that’s okay because most of it is upside volatility. If you try to call tops and bottoms, even through an algorithm, you could miss out on some things while generating a sizable tax bill.” Source

What Advisors Should Know About Bitcoin and Inflation

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When it comes to something as complex as the economy, how do we as humans think we can manage everything so neatly? Dot plots, forward expectations, tapering and rate changes – when a group of people, like those at the U.S. Federal Reserve, is trying to guide the economy, the result is often mistake after mistake. The truth is that no one knows for certain, and everyone is making a guess about the future. Original

UK Economic Affairs Committee unconvinced by prospect of retail CBDC

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The House of Lords Economic Affairs Committee — an investigative governing body representing the economic interests of the United Kingdom — has released an official report assessing the pertinence of a government-issued central bank digital currency (CDBC). Titled “Central bank digital currencies: a solution in search of a problem?,” the 52-page publication covers a litany of areas in relation to domestic CBDC endeavours, and regularly cites the preliminary research taskforce established by Bank of England and HM Treasury in April 2020. Over 50 individuals, including financial experts, university professors from…

Learn-to-Earn Platform Proof of Learn Raises $15M Round Led by New Enterprise Associates

Proof of Learn (POL), a Web 3 learn-to-earn platform, has raised $15 million in a funding round led by venture capital firm New Enterprise Associates. The firm will use the funding to spread awareness among users. POL will give users access to Web 3 employers through a careers marketplace, while letting them earn cryptocurrency and NFT rewards as they learn. Other investors in the round included Animoca Brands, GoldenTree Asset Management, gumi Cryptos Capital and Infinity Ventures Crypto. POL was co-founded by Filipino-American entrepreneur and former CEO of Care.com, Sheila…