Month: July 2022

Crypto firms facing insolvency ‘forgot the basics of risk management’ — Coinbase

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Department heads at Coinbase have weighed in on the market downturn amid solvency concerns around Three Arrows Capital, crypto lending firm Celsius, and Voyager Digital, saying the crypto exchange had “no financing exposure” to the companies. In a Wednesday blog post, Head of Coinbase Institutional Brett Tejpaul, Head of Prime Finance Matt Boyd, and Head of Credit and Market Risk Caroline Tarnok said Coinbase had not engaged in the “types of risky lending practices” exhibited by Three Arrows Capital, Celsius, and Voyager, claiming the firms were examples of practicing “insufficient…

What’s next for the future of Ethereum? Mihailo Bjelic from Polygon explains

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With the transition to a scalable, energy-light proof-of-stake blockchain at play for Ethereum, many have cast doubts on the popular coin’s future, given the magnitude and complexity of the Merge upgrade. But, among prominent stakeholders, one particular project remains heavily bullish on Ethereum’s future, which is none other than layer-two scaling solution Polygon. At the annual Ethereum Community Conference in Paris, Cointelegraph’s events manager, Maria A., spoke to Polygon’s vice president of growth, Mihailo Bjelic, regarding the topic. Here’s what Bjelic had to say regarding the Merge: “This is an…

Outside Magazine Wants the Metaverse to Take a Hike

He calls it the “Outerverse”: A platform where hikers, bikers, runners, skiers – outdoor-doers the world over – can earn rewards for tracking their real-life activity atop crypto rails. Skiers, for example, could unlock chances at a heli-skiing expedition, Zoom calls with famous photographers, perhaps Warren Miller movie tickets  – definitely non-fungible tokens (NFT) – by notching days out on the snow. Original Source HikemagazineMetaverse CryptoX Portal

Stablecoin Firms Face Tough Reserve, Capital Demands in US Bill, Source Says

The offices of Chairwoman Maxine Waters (D-Calif.) and the panel’s ranking Republican, Patrick McHenry (R-N.C.), have preliminarily agreed that stablecoins should be directly reinforced with assets such as cash and U.S. Treasury bonds that won’t be vulnerable in a panic, said the person, who requested anonymity because the legislation hasn’t yet been released to the public. The firms issuing them would also have to maintain capital, liquidity and open themselves to agency supervision, the person said. Source

Mojang Studios bans Minecraft NFT integrations

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On Wednesday, Minecraft’s developer Mojang Studios said that it would be excluding the integration of nonfungible tokens, or NFTs, alongside blockchain technology as a whole, in its popular namesake game. In explaining the decision, Mojang wrote: “Like any digital file, NFTs can be copied, moved, or even deleted. Additionally, NFTs and blockchain have also been associated with price speculation. These uses of NFTs and other blockchain technologies create digital ownership based on scarcity and exclusion, which does not align with Minecraft’s values of creative inclusion and playing together.” As told…

Vitalik Drinks Hot Water in Heatwave and Other Observations From Paris Ethereum Conference

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