The CMI brings structure to the process by which investors define and value the myriad digital assets in existence, bringing order to the otherwise chaotic world of crypto. As such, we see the CMI as a narrative device, a means by which to describe a more cohesive picture of the crypto economy, a framework with which to talk about, assess, and compare the many tokens, protocols, and dApps that comprise it. Source
Day: September 13, 2022
Celsius CEO plans to restructure firm to focus on crypto custody: Report
Crypto lending platform Celsius, currently in the middle of bankruptcy proceedings, reportedly plans to rebuild around crypto custody services. According to a Tuesday report from the New York Times, Celsius CEO Alex Mashinsky and head of innovation and chief compliance officer Oren Blonstein aimed to revive the company using a project named Kelvin — storing users’ crypto and charging fees on certain transactions. Mashinsky reportedly made the announcement at a Sept. 8 meeting for employees, at which the company discussed possible scenarios for its future after filing for Chapter 11…
US Inflation Data Roils Markets, Bitcoin and Ether Fall
● Bitcoin (BTC): $20,272 −9.5% ● Ether (ETH): $1,615 −6.4% ● CoinDesk Market Index (CMI): $1,019 −7.1% ● S&P 500 daily close: 3,932.69 −4.3% ● Gold: $1,712 per troy ounce −0.9% ● Ten-year Treasury yield daily close: 3.42% +0.06 Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index (XBX); Ether is the CoinDesk Ether Price Index (ETX); Gold is the COMEX spot price. Information about CoinDesk Indices can be found at coindesk.com/indices. Original
Web3 Developer Platform Alchemy Is Raising $12M for New Venture Capital Fund
It’s unclear what the funds will be used for, as Alchemy has a history of making investments through its venture capital arm and a separate grants program. Source
Bitcoin margin long-to-short ratio at Bitfinex reach the highest level ever
Sept. 12 will leave a mark that will probably stick for quite a while. Traders at the Bitfinex exchange vastly reduced their leveraged bearish Bitcoin (BTC) bets and the absence of demand for shorts could have been caused by the expectation of cool inflation data. Bears may have lacked confidence, but August’s U.S. Consumer Price Index (CPI) came in higher than market expectations and they appear to be on the right side. The inflation index, which tracks a broad basket of goods and services, increased 8.3% over the previous year.…
FTC Moves to Join Crypto Lender Celsius’ Bankruptcy Case
The Federal Trade Commission wants to get involved with failed crypto lender Celsius’ bankruptcy case. Source
El Salvador lanza dos ofertas de recompra de deuda en medio de la incertidumbre sobre su bono bitcoin
En julio, cuando el presidente de El Salvador, Nayib Bukele, presentó el plan de recompra, la iniciativa fue vista como un intento de contrarrestar la especulación sobre un posible default en medio de tensas relaciones entre el país centroamericano y el mercado de crédito tradicional, especialmente después de que en septiembre de 2021 El Salvador impusiera a bitcoin (BTC) como moneda de curso legal. Original
Solana Co-Founder Sees Upside From Ethereum’s Merge, Saga Web 3 Mobile
“From our perspective, these NFT volumes just go to show users really do care about that cost and performance,” Gokal said. Because “Ethereum is probably the largest by mindshare for NFT projects as an ecosystem,” its shift away from proof-of-work towards a less-environmentally harmful protocol, “is a really good thing.” he added. Source CoFounderEthereumsMergeMobileSagaSeesSolanaUpsideWeb CryptoX Portal
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NFT creator Doodles raises $54M in funding at $704M valuation
On Tuesday, nonfungible tokens (NFTs) collection Doodles announced that it had raised $54 million at a $704 million valuation in a funding round led by Seven Seven Six, with participation from 10T Holdings, Acrew Capital and FTX Ventures. As told by Doodles, the investment will allow it to scale its growth strategy and monetize its intellectual property globally through ventures in the music, culture and entertainment industries. Doodles is a collection of 10,000 NFTs co-founded by digital artist Burnt Toast and Web3 pioneers Evan Keast and Jordan Castro. Artistically, it…