Month: January 2023

Mt Gox Payout Deadline Postponed, Next Bitcoin Price Dump?

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One concern for Bitcoin investors has taken a back seat in recent weeks and months amid macroeconomic headwinds and crypto-intrinsic contagion effects: the release of recovered BTC from Mt Gox. Originally, users of what was once the largest Bitcoin exchange were supposed to file their claims by January 10, 2023. Shortly after that, payouts were to begin, according to an October statement. However, the deadline has already been pushed back countless times. And as a document released today by rehabilitation trustee Nobuaki Kobayashi shows, Mt. Gox claimants will have to…

NFT Steez and Lukso co-founder examine the implications of digital self-sovereignty in Web3

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Sovereign identity has been a hot topic in blockchain and cryptocurrency, especially with the rise of the creator economy. Currently, there are two types of digital identities. One is federated and centralized whereby data is in the control of the service provider. Self-sovereign digital identity is often cited as a human right that can reclaim agency using blockchain technology, but what frameworks exist that aid in governing it? On this episode of NFT Steez met Marjorie Hernandez, the co-founder of LUKSO and The Dematerialized to discuss the state of blockchain-based…

Genesis Global Dismisses Additional 30% of Staff

Genesis conducted the latest staff cut after the company informed clients about “reducing costs and driving efficiencies” amid challenging times for many crypto firms. With fingers crossed on what the crypto economy is this year, Genesis Global Trading recently dismissed more staff. This came after the company laid off 20% of its workforce in August 2022. When Genesis Global Trading let go of some people last year, it had about 260 employees. At the same time, the company was struggling with major losses connected to the crash of Three Arrows…

ECB Official Pushes for CBDC Development Citing Betterment for Consumers

The ECB executive called the European Union’s Markets in Crypto Assets (MiCA) an important step. Fabio Panetta, the executive board member of the European Central Bank (ECB), recently published a pushing forward the need for developing a central bank digital currency (CBDC). As per the previous reports, the ECB has been already working on its CBDC – Digital Euro – and could see it coming into the market by 2025. ECB and CBDC In his arguments in the blog post on January 5, Panetta presented his latest arguments noting that…

Industry seeks solutions for NFT image-hosting disasters

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The image-hosting aspect of nonfungible tokens is in need of major improvements. First, people saw NFTs on FTX break after it declared bankruptcy. More recently, NFTs on the marketplace Magic Eden showed some questionable images instead of their actual thumbnails.  As the problem continues to persist, Cointelegraph reached out to various industry executives to get their thoughts on how NFT projects can solve the issue. NFT marketplace Magic Eden showing pornographic images. Source: Twitter From using dependable blockchains to exploring the storage technologies available in the Web3 space, various executives working…

CME Group and CF Benchmarks Teams Up to Launch New Metaverse Reference Rates

The move to provide the three new metaverse reference rates comes off as a unique contribution by the CME Group and CF Benchmarks to help with the evolution of the Web 3.0 ecosystem. American global markets firm, the CME Group Inc (NASDAQ: CME), and CF Benchmarks have partnered to launch three new metaverse reference rates as both sought to extend their footprints in the emerging Web3.0 world. According to a published press release, the three new metaverse reference rates include Axie Infinity (AXS), Chiliz (CHZ), and Decentraland (MANA). The metaverse…

Crypto Giant DCG Shuts Down HQ Subsidiary amid Global Economic Crisis

DCG once appeared to be untouchable but may fast be losing its stability. Digital Currency Group (DCG) has announced that it is shutting down operations at its wealth management division HQ. According to a report by The Information, DCG is taking such a drastic step due to the prevalent economic situation across the world. To that effect, a spokesperson for the firm released a statement saying: “Due to the state of the broader economic environment and prolonged crypto winter presenting significant headwinds to the industry, we made the decision to…