Day: December 15, 2022

Archblock Attempting to Bring US Banks to DeFi; Bitcoin and Ether Stall

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Ether (ETH): The second-largest cryptocurrency followed BTC’s trajectory, sliding around 2.8% to $1,272 as of publication time. The Web3 infrastructure company Blocknative, which has become one of Ethereum’s biggest block builders, raised $15 million in a Series A-1 round, led by Blockchain Capital, Foundry Group, Rho, IOSG Ventures, Robot Ventures, Fenbushi Capital, HackVC, Industry Ventures and others. The financing will accelerate Blocknative’s initiatives in the block-building market in the Ethereum ecosystem. Original

Aztec Network secures $100 million in Series B funding led by a16z

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The private layer-2 chain Aztec Network announced on Dec. 15 a $100 million Series B funding round led by venture capital firm a16z crypto. Other investors in the round include A Capital, King River, Variant, SV Angel, Hash Key, Fenbushu, and AVG.  By partnering with a16z, the company plans to hire new engineers and build a “next-generation encrypted architecture” that allows users to verify that blockchain rules were followed without revealing any underlying information. Encrypted blockchains allow users to transact with privacy and anonymity. “What we’re building is a revolutionary piece…

SBF’s legal battle still has “a lot to play out,” according to legal commentators

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Sam Bankman-Fried, former FTX CEO, faces eight accusations and could get 115 years in jail, but there is a “lot to play out” until he gets a final sentence over the coming months or even years, legal commentators told Cointelegraph.  “It is difficult to say at this stage what the likely outcome will be, but the stakes are very high indeed. Sentences in major fraud cases can vary, with Bernie Madoff receiving a 150 year sentence in 2009, whilst in the Enron case a few years earlier the sentences handed…

MASSIVE Week For Bitcoin! (Are The Binance RUMORS True?)

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io This could be a massive week for Bitcoin! The CPI report is coming out, amongst other turning points in the industry. In today’s show, we discuss the cryptocurrency markets and the latest crypto news. We’ll also analyze the price of Bitcoin, Ethereum, and the top altcoins so you can make the best investment and trading decisions. What We Discuss: -BTC, ETH charts -BTC halving -ETH whales -BNB Red Flags -FTX and SEC -Yuga Lawsuit -XRP news -Crypto news 💱 Use this link…

Big Time and other Web3 games take home the gold at the inaugural GAM3 awards

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Web3 gaming awards event the GAM3 Awards, hosted by Polkastarter Gaming, announced 16 winners at a live event on December 15.  According to an announcement shared with Cointelegraph, prize winners will share over $1 million in prizes sponsored by companies such as Immutable X, Blockchain Game Alliance, Machinations, Ultra, Naavik, Galxe, Hacken, Venly, HackenProof, Shorooq, Elixir, Arcade and MetaCon. congratulations to all the winners in our inaugural 2022 #GAM3Awards ✨ we can’t wait to see what’s in store for you, and the entire industry in 2023. for more information & a…

Jewel Bank, Polygon to launch Bermuda’s first USD-backed stablecoin

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Institutions in Bermuda will soon be able to trade real-time settlements using a stablecoin with a 1:1 ratio with the United States dollar, Jewel Bank’s founder and chairman Chance Barnett told Cointelegraph.  Called Jewel USD (JUSD), the first stablecoin to be released in the territory is powered by the Polygon blockchain, enabling transactions between wallets available to institutional clients. In the future, the bank plans to use the Polygon ecosystem for commercial and retail stablecoin-based payment solutions, including transactions between institutions, businesses, and payments between individuals. “The need for a…

Court Documents Say FTX Boss Ryan Salame Snitched on SBF 2 Days Before the Bankruptcy Filing – Bitcoin News

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According to court documents associated with the FTX bankruptcy proceedings, on Nov. 9 — two days before the company filed for Chapter 11 bankruptcy protection — FTX co-CEO Ryan Salame told Bahamian authorities that Sam Bankman-Fried (SBF) sent customer funds to the firm Alameda Research. A letter written by Salame sent to the Bahamian commissioner of police detailed the “possible mishandling of clients’ assets” by SBF. Court Documents Indicate FTX Co-CEO Ryan Salame Allegedly Turned on Bankman-Fried A written account from FTX co-CEO Ryan Salame details that the former FTX…

Bitcoin Santa Claus rally unlikely, according to on-chain and derivatives data

As the coldest days of the crypto winter set in, investors’ speculative interest in the crypto market has fallen to pre-2021 levels, impairing the chance of a substantial directional price move. However, there’s a possibility of a bear market rally akin to the July through August 2022 uptrend. The market enters a state of limbo The FTX implosion impacted over 5 million users globally and adversely affected numerous crypto companies that were exposed to it. The industry is currently in a recovery mode and Cumberland, a U.S.-based crypto market broker,…

New York State issues guidance for banks seeking to engage in activities with crypto

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The New York state Department of Financial Services (DFS) released guidance on Dec. 15 for regulated banks seeking to engage in activities with virtual currency. The guidance, which took effect immediately, describes the application process and “summarizes the types of information the Department considers relevant” for obtaining the agency’s approval. The 11-page document consisted largely of bullet points as it described the informational requirements for several categories, such as “Business Plan” and “Consumer Protection,” in detail, followed by a series of formal checklists. Approval is required 90 days before engaging…

DeFi Protocol Developer Archblock Aims to Onboard U.S. Community Banks and Bring Real-World Assets With New Partnership

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