Day: January 12, 2023

TRON Snags No. 2 Spot In TVL As Revenue Spikes Amid Bear Market Pressure

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According to a tweet by TRON (TRX) on January 10, the network has displayed an impressive performance as it is currently ranked second in terms of total value locked (TVL) in the entire crypto space. TRON’s TVL has reached $9.2 billion by end of 2022, TRON DAO disclosed. TRON chief executive to extend help to FTX and SBF TRX price spikes by 1.52% TRX remains robust in terms of trades A lot of people are now keeping an eye on TRON, and wondering whether it can hold on to its…

Metropoly’s Presale Has Raised over $350k Eyeing a Soldout Much Earlier Than Expected: Why Is Everyone Investing

Place/Date: – January 12th, 2023 at 2:30 pm UTC · 5 min read Source: Metropoly Photo: Metropoly 2022 has not been a kind year for the crypto market but to the surprise of many, some projects have done very well with their presales. It goes to show that a good project with a solid use case will always succeed in the crypto market, no matter how bad the conditions are. One of the most striking presale performances this year comes from Metropoly, a real estate platform that has struck a…

‘Deflation’ is a dumb way to approach tokenomics… and other sacred cows – Cointelegraph Magazine

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Having taught and studied token economics at the University of Nicosia, I’ve found that students often have some decidedly muddled beliefs about how what tokens are and how business and token economies work. Unlike microeconomics and macroeconomics — which are based on decades of research, debate and inquiry that have produced some commonly accepted principles — tokenomics is a much newer field of study full of people without economics experience. There are many self-professed “experts” who provide advice that sounds fine and is often even sensible in theory but that…

‘I didn’t steal funds, and I certainly didn’t stash billions away’

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Former FTX CEO Sam Bankman-Fried has largely denied the allegations against him in a ‘pre-mortem overview’ of the crypto exchange’s insolvency. In a Jan. 12 post on Substack, Bankman-Fried claimed there was a path forward for customers of certain companies under the FTX umbrella to be made whole following the firm’s bankruptcy. According to the former CEO, FTX US had been “fully solvent” at the time the firm filed for Chapter 11 bankruptcy, with roughly $350 million in cash on hand. Bankman-Fried added that FTX International had roughly $8 billion…

‘I didn’t steal funds, and I certainly didn’t stash billions away.’

Former FTX CEO Sam Bankman-Fried has largely denied the allegations against him in a ‘pre-mortem overview’ of the crypto exchange’s insolvency. In a Jan. 12 post on Substack, Bankman-Fried — differentiating between companies under the FTX umbrella — claimed FTX US had been “fully solvent” at the time the firm filed for Chapter 11 bankruptcy, with roughly $350 million in cash on hand. He pointed to Sullivan & Crowell and the FTX US general counsel as parties who pressured him into naming John Ray as the CEO of FTX prior…

Unstoppable Domains and Ready Player Me Team Up to Create Interoperable Metaverse Identities

“Thanks to the collaboration with Unstoppable, our users can now claim their Web3 domain and expand their digital identity beyond metaverse platforms,” said Timmu Tõke, co-founder and CEO of Ready Player Me told CoinDesk. “They will be able to take advantage of all of the features offered by Unstoppable Domains, creating a single place for presenting their virtual identity.” Original Source CreateDomainsidentitiesInteroperableMetaversePlayerreadyTeamUnstoppable CryptoX Portal

Tribeca Film Festival Will Sell VIP Passes as NFTs

The VIP passes mark the annual film festival’s first expansion into NFTs and were developed in partnership with crypto exchange OKX. Minted on Ethereum, they will provide perks like special access to film screenings and invitations to exclusive events with the festival’s co-founders Jane Rosenthal and Robert De Niro. Source

Orange Financial to Launch Innovative Yield Farming Treasury – Stablecoin Rewards for NFT Holders

Orange Financial, a multi-chain yield farming treasury, is excited to announce its public mint date on February 1st, 2023. As the only NFT project to offer stablecoin rewards through yield farming to its holders, Orange Financial will revolutionize the world of yield farming and NFTs. Through its innovative approach, Orange Financial has created a basket of DeFi assets and farming opportunities to provide yield for its NFT holders. The Treasury takes care of all the compounding and harvesting on behalf of its holders and routes the returns back through USDC,…

DCG owes creditors over $3B, considering $500M VC portfolio sale

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Cryptocurrency broker Genesis Global allegedly owes its creditors more than $3 billion, according to a new report published by the Financial Times on Jan. 12. Its parent, Digital Currency Group (DCG), which also owns Grayscale Investments and its series of digital asset trusts, seeks to sell part of its venture capital holdings to offset the shortfall. According to people familiar with the matter, DCG’s venture arm has more than 200 crypto-related projects “such as exchanges, banks, and custodians in at least 35 countries” with a total valuation of around $500…