Day: December 16, 2022

Corporate America has finally taken notice of Web3 — US trademark lawyer

boss

This year saw an influx of trademark applications filed by various companies looking to get in on the Web3 action. By November, a total of 4,999 trademark applications had been filed in the United States for cryptocurrencies and digital-related goods and services — according to United States Patent and Trademark Office-licensed trademark attorney Mike Kondoudis.  Kondoudis believes the future of the Web3 ecosystem looks “bright” and “mainstream adoption is inevitable.” To learn more about the impact of Web3 trademark applications filed on the future of the Web3 ecosystem, Cointelegraph interviewed…

Crypto Billionaire Mike Novogratz: Not All Digital Asset Exchanges Are Run by Criminals Like FTX Was

boss

Crypto billionaire Mike Novogratz thinks it’s “really dangerous” to assume all digital asset exchanges are run like the now-imploded FTX. The Galaxy Digital chief executive says in a new interview with CNBC that he always encourages crypto investors to “sell something along the way” to prepare for inevitable volatility. Novogratz also discourages people from suspecting every player in the space operates like Sam Bankman-Fried, the disgraced former CEO of FTX. “It’s really dangerous to think that when you have one black swan, you’re going to see them everywhere. That you’re…

Bitcoin and Ethereum gave back their gains, but has anything actually changed?

boss

Crypto markets threw a nice head fake this week by rallying into resistance on a “positive” Consumer Price Index (CPI) report, before retracing the majority of those gains right after Federal Reserve Chair Jerome Powell took on a surprisingly hawkish tone during his post-rate-hike presser.  The Fed hiked interest rates by 0.50%, which was well within the expectation of most market participants, but the eyebrow-raiser was the Federal Open Market Committee consensus that rates would need to reach the 5%–5.5%+ range in order to hopefully achieve the Fed’s 2% inflation…

US Financial Stability Oversight Council urges congressional action on crypto

Officials with the United States Financial Stability Oversight Council, or FSOC, have recommended U.S. lawmakers pass legislation aimed at addressing regulatory gaps for crypto-related activities. In its annual report released on Dec. 16, the FSOC recommended members of Congress pass legislation granting “explicit rulemaking authority for federal financial regulators over the spot market for crypto-assets,” noting that tokens previously identified as securities would be exempt. The council also noted the lack of a comprehensive regulatory framework — specifically addressing stablecoins and visibility and supervision of crypto firms — in the…

Friedrich Zwanzger of Blockdaemon On the Future of Web3 Infrastructure – Crypto 2023

The Holy Grail for the next wave of crypto adoption will be when customers use blockchain seamlessly, without needing to know or understand the underlying tech. Just as we use video calls without knowing the underlying protocol, VOIP, so too will blockchain become a frictionless, user-friendly and branded transfer of value and data. We’ll see social media giants incorporating crypto payments without users ever needing to know it’s blockchain behind the scenes. Source

Stablecoin BUSD’s Supply Shrunk by 3.24 Billion in 3 Days, Market Cap Is Down 20% Since Last Month – Altcoins Bitcoin News

boss

While billions of dollars in crypto assets have been withdrawn from Binance, the world’s largest exchange in terms of volume, the stablecoin BUSD has seen its coins in circulation drop considerably during the last three days. While 20% of BUSD’s supply was drained since last month, statistics show that 14.77% of the reduction took place on Dec. 13. BUSD’s Supply Declined by 3.24 Billion Since Dec. 13 Amid the speculation surrounding Binance and the large number of withdrawals (over $3B) that took place on Dec. 13, 2022, the stablecoin BUSD…

Japanese Government To Ease 30% Crypto Tax Requirement

boss

Presently Japanese crypto firms pay a set 30% corporate tax rate on their holdings, regardless of whether or not they made a profit. Due to this stringent tax law over the past years, some local crypto firms reportedly chose to move their business elsewhere. This development has impacted the country’s economic growth, and the LDP, having identified it as its primary task, wants to set things right. The Liberal Democratic Party (LDP) of Japan addresses issues with administrative reform and collaborates with the U.S. to enact defensive and foreign policies.…

Industry execs confident in DeFi adoption despite security flaws: Finance Redefined

boss

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. Industry experts are confident in DeFi and believe the sector would continue to see adoption despite its security flaws, primarily due to the mammoth failure of centralized exchanges. Despite the continued growth, however, the decentralized exchanges have lost $30 million on liquidity provider incentives. Popular hardware crypto wallet Ledger introduced a new DeFi tracking feature that pairs with its hardware wallets to monitor performance…