Month: May 2022

Socios fan tokens rally 40%+ after Chiliz rolls out mainnet upgrade and token burn plan

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In times of high stress and market turmoil, sports entertainment has served as a valuable escape for people around the world as they get a chance to root for their favorite players and teams while briefly forgetting about the worries of the world.  Amid the ongoing market volatility and falling crypto prices, sports fans have cause to rejoice as multiple fan tokens have bucked the downtrend on May 18 to post 40% plus gains. Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets Pro Here’s a look…

Chia Network Joins Crypto Lobbying Group Blockchain Association

Chia Network Inc. announced that it has become a member of a Blockchain Association, an industry leader championing the collaboration and innovation necessary to support U.S. leadership in the crypto industry. The association is a member-led organization committed to enhancing the public policy environment for digital assets. With more than 70 members, Blockchain Association combines its network and insight to create a unique policy with industry consensus. Chia Network is building a blockchain platform based on Proofs of Space-Time (PoST) to make a less wasteful, more decentralized, and more secure…

Bitcoin and Stocks Dip as Volatility Spikes

The stock market declines came after retail and tech stocks underperformed on Wednesday. Also, the Chicago Board Options Exchange’s CBOE Volatility Index (VIX), a popular measure of the stock market’s expectation of volatility based on S&P 500 index options, ticked higher on Wednesday, reversing a week-long downtrend. Source

Was Terra’s UST cataclysm the canary in the algorithmic stablecoin coal mine?

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The past week has not been an easy one. After the collapse of the third-largest stablecoin (UST) and what used to be the second-largest blockchain after Ethereum (Terra), the depeg contagion seems to be spreading wider.  While UST has completely depegged from the U.S. dollar, trading at sub $0.1 at the time of writing, other stablecoins also experienced a short period where they also lost their dollar peg due to the market-wide panic. Tether’s USDT stablecoin saw a brief devaluation from $1 to $0.95 at the lowest point in May.…

People Aren’t ‘Ready to Hear’ About Inequities in the Metaverse

“A lot of people are saying, ‘We’re in the metaverse, identity doesn’t exist, skin color, race, gender identity doesn’t exist,’” Sinclair says. “That’s not true.” It’s even less true when what a lot of people want to get out of joining Web 3 communities online is the real-life experiences that come with them – the in-person meetups, the parties like Ape Fest and the conferences full of networking opportunities. People still want to find others they can relate to, who share their interests and experiences. “Even though it’s about digital…

Meta trademark filing hints at plans for crypto payments platform

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Social media giant Facebook’s parent company, Meta, may be planning to launch a payments platform with support for cryptocurrency.  According to records submitted to the United States Patent and Trademark Office, or USPTO, on May 13, Meta filed five applications for its namesake to be used in a platform called Meta Pay. The filings included Meta’s name for use in a “online social networking service for investors allowing financial trades and exchange of digital currency, virtual currency, cryptocurrency, digital and blockchain assets, digitized assets, digital tokens, crypto tokens and utility…

Biden Administration Wants Crypto Exchanges to Separate Customer and Corporate Funds

“Instead of focusing on the lack of client asset segregation at digital asset exchanges, which is also true with securities held in ‘street name’ at DTCC, legislators should work on a Digital Asset Investor Protection Act that mirrors the Securities Investor Protection Act,” said Dave Weisberger, co-founder and CEO of CoinRoutes, Inc. It could give investors “primary status in bankruptcy proceedings,” and it could also set up a backstop fund to cover losses like the one securities investors have. Source