Day: August 8, 2022

Metaverse housing bubble bursting? Virtual land prices crash 85% amid waning interest

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The metaverse sector is witnessing its very-own housing crisis moment, thanks to massive declines in the prices of its virtual lands in 2022, led by waning users’ interest and a crypto bear market. Land sales plunge 85% in 2022 In particular, metaverse projects built on the Ethereum blockchain, including the Sandbox and Decentraland, have witnessed substantial declines in their valuations and other key metrics, data from WeMeta shows. For instance, the average price of lands sold across Decentraland peaked at $37,238 in February 2022. But as of Aug. 1, their…

US ethics advisory on federal employee’s crypto has basis in legislation

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When the United States Office of Government Ethics (OGE) released its Legal Advisory 22-04 on July 5, most attention was given to its conclusion that federal employees who own any amount of cryptocurrency or stablecoins whatsoever may not participate in regulation and policymaking that concerns crypto. The legal advisory (LA) raised some eyebrows, as de minimis exemptions, threshold amounts below which assets holdings are permissible, are common in the government. The LA is more comprehensible when seen in a larger context. What they were thinking The OGE does not grant…

Vitalik Buterin minimiza el impacto de nuevas bifurcaciones de Ethereum tras la fusiรณn

El prรณximo mes, la blockchain planea cambiar a un mecanismo de consenso proof-of-stake (PoS), un evento conocido como fusiรณn o merge, en una acciรณn que los desarrolladores dicen la volverรก menos costosa, mรกs rรกpida y amigable con el medio ambiente. El paso desde un sistema proof-of-work (PoW) terminarรก con una fuente de ingresos para los mineros de ether, quienes son recompensados con tokens por sus esfuerzos. Los mineros produjeron mรกs de $620 millones en ether solo en julio, segรบn muestran los datos. El fundador de Tron, Justin Sun, se ha…

As Interest Rates Rise, a Silent Vampire Attack on Crypto

But stablecoin issuers arenโ€™t the only entities behind this silent vampire attack. Just as crypto has come to rely on a few centralized stablecoins, crypto firms have increasingly relied on a small number of banks for fiat services. Silvergate Bank and Signature Bank, which provide the lionโ€™s share of banking services to major industry firms, also stand to profit from higher interest rates โ€“ and to keep those profits to themselves. For example, Silvergate Bank projects in a 2022 SEC filing that for every +25bps increase in interest rates, its…

Crypto-Mixing Service Tornado Cash Blacklisted by US Treasury

โ€œTornado Cash has been the go-to mixer for cybercriminals looking to launder the proceeds of crime, as well as helping to enable hackers, including those currently under U.S. sanctions, to launder the proceeds of their cybercrimes by covering up the origin and transfer of this illicit virtual currency,โ€ a senior department official said. โ€œSince its creation back in 2019, Tornado Cash has reportedly laundered more than $7 billion worth of virtual currency.โ€ Source

World Gold Council Exec Believes Blockchain Technology Will Bolster Trust in the Gold Industry โ€“ Blockchain Bitcoin News

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The World Gold Councilโ€™s (WGC) head of global sales and regional CEO, Joe Cavatoni, explained on Friday that he believes the gold industry will integrate with blockchain technology in order to โ€œhelp the industry standardize reporting.โ€ Cavatoni spoke about the London Bullion Market Associationโ€™s (LBMA) and WGCโ€™s Gold Bar Integrity Programme (GBI) which aims to methodize โ€œan international system of gold bar integrity, chain of custody and provenance.โ€ Gold Bar Integrity Initiative Will Help Investors Feel โ€˜Comfortable Knowing Where the Gold Is Coming Fromโ€™ Joe Cavatoni, the World Gold Councilโ€˜s…

WATCH BEFORE TOMORROW (Fed Meeting)!! Bitcoin News Today & Ethereum Price Prediction (BTC & ETH)

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After Countless Bungles, Compass Mining Tries to Change Its Course

One way that Compass did that was to sell bundles of rigs, averaging a predetermined amount of hashing power, which would be gradually going online over several months. The bundles cost anywhere from around $48,000 to $65,000 just for the machines, including $26,000 to $34,000 in upfront costs, according to marketing materials seen by CoinDesk. Source

CryptoPunk NFT to be split into 56,000 pieces

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Nonfungible tokens (NFTs) continue to capture the imagination of the cryptocurrency space, with some of the most popular projects attracting hundreds of millions of dollars from investors. Projects such asย CryptoPunksย and the Bored Ape Yacht Club epitomize the exclusivity of the most lucrative collections, with each NFT far from accessible to the average investor. A new campaign intends to give a wider base of investors a stake in some of the most valuable NFTs by fractionalizing ownership to reinstate accessibility. Unique Network, an NFT infrastructure running on the Kusama and Polkadot…