Chainlink, a provider of price feeds and other data for blockchains to use in smart contracts, introduced staking of its native token LINK on Tuesday, and selected holders locked 7 million tokens, valued at about $51 million, in the first 30 minutes, according to a company spokesperson. Source
Cryptocurrency exchange Binance generates 90% of its revenue from transaction fees, CEO Changpeng “CZ” Zhao said. Source
Block has injected substantial funds into a local Bitcoin mining company that plans to provide 25-cent electricity to rural Africa. Digital payments firm Block Inc (NYSE: SQ) is backing a Bitcoin (BTC) mining firm that plans to provide subsidized electricity to rural Africa. According to reports, the tech conglomerate will partner with Bitcoin-focused venture firm Stillmark to invest in a local specialized platform. Block and Stillmark have spearheaded a $2 million seed investment into Gridless, a company that designs, constructs, and operates mining sites in tandem with pocket-sized renewable energy producers…
The metaverse platform Decentranland announced a new platform feature which allows its users who own virtual LAND to essentially become landlords. Owners can now officially rent out their property to other users on the platform for predefined periods of time. This allows users to earn passive income off of their metaverse assets. Decentraland classifies LAND owners as accounts or wallet addresses which own the smart contract for LAND, whether it be “a Parcel, an Estate, or both.” All LAND rentals are performed in (MANA), the native token of Decentraland and…
O’Leary says no one should be accused yet until pieces of evidence reveal the real truth about FTX. Popular “Shark Tank” host and chairman of O’Shares Investments Kevin O’Leary appears to be drumming support for FTX exchange’s former CEO Sam Bankman-Fried (SBF). This follows after he made commentaries on Tuesday, that bordered on SBF and several allegations that have surfaced against him since the crash of FTX. Speaking during the interview with Yahoo Finance, O’Leary insists that SBF should be seen as innocent until proven guilty. Meanwhile, O’Leary’s comments come…
While some countries like Nigeria are aggressively pushing the use of central bank digital currencies (CBDCs), a new report summarized why a number of private stakeholders are against the idea of a CBDC. The report dubbed “The State of CBDCs in 2022,” published by blockchain insights firm Blockdata, dove into the most significant CBDC developments within the past year. It also pinpointed some of the key reasons why some private companies are against CBDCs. Citing stablecoin issuer Circle’s stance on CBDCs, the report highlighted that digital currency issuance may be…
On Tuesday, the hardware wallet manufacturer Ledger announced the launch of a new device called Ledger Stax. The machine was designed by iPod creator, Tony Fadell, and the France-based firm Ledger says the new device was built with “uncompromisingly secure architecture.” iPod Creator Tony Fadell Partners With Ledger to Launch a New Crypto Hardware Wallet Called Stax Ledger has revealed a new hardware wallet that’s roughly the same size as a credit card. Ledger Stax also features an e-ink touch screen that’s customizable and offers capacitive touch. The France-based crypto…
The United States lawmakers have proposed an amendment to the State Department Basic Authorities Act of 1956 that includes information on crypto rewards and payouts. The proposed amendment under the National Defense Authorization Act (NDAA) requires the Department of State, an executive department of the U.S. federal government responsible for the country’s foreign policy and relations, to inform about any crypto payouts or rewards within 15 days of making it. The NDAA is the name for each of a series of United States federal laws specifying the annual budget and…
With a favorable environment for alternative cryptocurrencies far away, a rise in open interest in AXS futures implies traders shorting the rally, one trader said. Source
Solana is among the hardest hit by the demise of FTX, as the two companies have collaborated to establish Serum, a decentralized derivatives market. This led to Solana being closely associated with the Sam Bankman-Fried crypto exchange, with more than $900 million worth of SOL being held by FTX. Let’s have a quick overview: The company’s fundamentals are strong, therefore it should be able to start making money again soon. Constant pressure from technicals and bearish market circumstances keeps the price low. Metrics, though, suggest SOL is making progress in…