Day: April 6, 2022

Will Crypto Hit a Ceiling? Crypto Companies Aim to Prevent It

boss

In November of 2021, the crypto market cap reached a peak of 2.8 trillion USD, putting it on par with Apple’s market cap and bigger than Microsoft’s, sending a clear message to the world; Crypto is here to stay. Despite this massive achievement, there has been significant push-back from institutions and banks around the world clinging tightly to their old notions of what defines “money”. These regulating bodies want to strike a balance between centralized and decentralized finance (DeFi). Several countries have already accepted crypto as legal tender, and others…

DApp daily users surge to 2.4M in Q1 2022 despite headwinds

boss

According to a new industry report published by DappRadar, the number of users engaging in decentralized applications, or DApps, every day surged 396% year-over-year to 2.4 million. This is only 5.8% below the same user activity level witnessed in Q4 2021. The overall growth was impressive, considering that during the quarter, the cryptocurrency sector saw a short-lived bear market, as well as experiencing $1.19 billion in decentralized finance, or DeFi, hacks, and exploits. Two of the worst affected token bridge protocols were that of Ronin and Wormhole. Last month, Axie…

Are CBDCs kryptonite for crypto? – Cointelegraph Magazine

boss

Central bank digital currencies — digital currencies backed by a central bank — have received renewed interest with the United States President Joe Biden’s Executive Order on Ensuring Responsible Development of Digital Assets. Proponents of CBDCs argue that widespread adoption will promote financial inclusion, expand public access to safe money, improve the efficiency of payments and more. But their rationale remains tenuous. Many analysts and practitioners increasingly view CBDCs as fundamentally at odds with the purpose of cryptocurrency, which is to provide a secure, decentralized peer-to-peer mechanism for transferring funds.…

BTC Falls Below $45,000 Ahead of FOMC Minutes, ETH Extends Recent Losses – Market Updates Bitcoin News

boss

Bitcoin fell below the $45,000 level on Wednesday, as the selloff in crypto markets extended, following strong gains last week. ETH was also down in the session, slipping to a five-day low in the process. Overall, the global crypto market cap fell by 4% as of writing. Bitcoin BTC fell below $45,000 during Wednesday’s session, as markets were waiting for the release of latest FOMC meeting minutes. The minutes typically provide traders an inside look into the thinking of the Fed, when it comes to policy decisions. As of writing,…

Axie Infinity creator raises $150M led by Binance to reimburse stolen funds

boss

Sky Mavis, the creator of the popular play-to-earn nonfungible token game Axie Infinity has raised $150 million in a new funding round led by Binance.  The fundraiser is aimed at reimbursing lost funds from the recent exploit on Axie Infinity’s Ronin Bridge, which resulted in the loss of over $600 million. The funding round also saw participation from Animoca Brands, a16z, Dialectic, Paradigm and Accel. As Cointelegraph reported earlier, the explorer behind the hack managed to drain out 173,600 Ethereum (ETH) and 25.5 million USD Coin (USDC) in just two…

Interpol Apprehends CEO of Generation Zoe, an Alleged Cryptocurrency Scam in Argentina – Bitcoin News

boss

Interpol has managed to apprehend Leonardo Cositorto, the former CEO of Generation Zoe, one of the biggest alleged financial and crypto scam platforms in Argentina. Cositorto was reportedly arrested this week in the Dominican Republic, where he was in charge of a similar platform called Sunrise Coach. He will now be extradited to Argentina. Leonardo Cositorto Arrested in the Dominican Republic One of the most wanted men linked to the operation of Generation Zoe, one of the largest alleged pyramid schemes in Argentina, has at last been located.…