Day: February 24, 2023

BTC Falls Below $24,000 Ahead of US Consumer Sentiment Data – Market Updates Bitcoin News

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Bitcoin fell back below $24,000 on Feb. 24, as markets anticipated the release of the upcoming consumer sentiment figures from the United States. The report from the University of Michigan is expected to show an increase in confidence, despite current inflationary pressures. Ethereum marginally retreated from Thursday’s high. Bitcoin Bitcoin (BTC) was once again trading below $24,000 on Friday, as markets began to anticipate the release of U.S. consumer sentiment data. BTC/USD fell to an intraday low of $23,693.92 earlier in today’s session, less than 24 hours after hitting a…

China’s Shenzhen Cloudsky Considering US IPO before Year End

The China Securities Regulatory Commission (CSRC) recently announced rules for domestic companies considering overseas IPOs. According to people familiar with the matter, Chinese cloud service provider Shenzhen Cloudsky Technologies is considering an initial public offering (IPO) where it could generate around $200 million. The sources revealed that the company’s plan to go public could happen as soon as this year. Currently, Shenzhen Cloudsky has not made a final decision on its listing locations, but informants said the US is one of the potential IPO venues. Shenzhen Cloudsky Technologies Considers US IPO As…

ASIC Opens Investigation into Binance Over Closed Accounts

The investigation is notably hinged on the “classification of retail clients and wholesale clients“ in what it said will be a targeted review. The Australian Securities and Investments Commission (ASIC) has announced it will be opening an investigation into Binance Exchange’s local operations in the country. The targeted investigation was prompted by the exchange’s wrong closure of some users’ derivatives accounts based on a faulty classification. Binance, which has a local Australian unit, acknowledged the error on Thursday after some of the affected users came on Twitter to share their…

NFT Steez and Victor Solomon discuss building in Web3 and the metaverse

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NFT Steez hosts Alyssa Expósito and Ray Salmond chatted with Victor Solomon to discuss his journey in bridging his in-real-life artwork with NFTs and how he cultivates the community and culture that surrounds his art.  Solomon’s work centers around basketball — not just the object, but the sport itself. For Solomon, the inspiration for his work comes from wanting to play hockey in his early childhood. At the time, this was a sport that was not accessible for him, but it led to his eventual discovery of basketball, which he…

IMF says no crypto as legal tender; community disagrees

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The International Monetary Fund (IMF) recently made another anti-crypto move, opposing crypto becoming a legal tender. In response, crypto community members quickly fired back and expressed disagreement on Twitter.  The IMF’s executive board recently endorsed a crypto asset policy framework that did not grant crypto assets an official currency or legal tender status. The executives agreed with the framework and highlighted that it’s a necessary move to safeguard monetary stability. The best #Bitcoin promotion. https://t.co/vwW6YdzBhJ — Dennis Parker (@Xentagz) February 23, 2023 From expressing their support for Bitcoin (BTC) to…

Dapper Labs to Cut Down Staff by Another 20% amid Rebounding NFT Market

The CEO is linking the new job cuts to restructuring. Barely four months after laying off 22% of its staff, Dapper Labs is set to dismiss another 20% of its remaining staff. According to the letter sent to the team by Dapper Labs CEO Roham Gharegozlou, the latest decision is in line with the company’s restructuring plans. Part of the letter reads: “We are restructuring the Dapper Labs organization to improve our focus and efficiency, strengthening our position in the market and better serving our communities.” Gharegozlou also noted that…

Stop treating NFT drops like ad campaigns

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The rise of Non-Fungible Tokens (NFTs) has created a new frontier for brands looking to engage with consumers in a more meaningful way. However, as more and more brands enter the space, many are discovering that what they have committed to actually requires methodical, continuous effort and engagement that escalates with each milestone. Basically, brands are finding themselves in a type of ‘engagement Ponzi scheme’ that their marketing teams are not equipped to handle. Here’s why.  The challenge stems from two things: Many users ask for “utility” from NFTs, but…

DeFi Protocol Platypus Announces Major Compensation after $9M Hack

DeFi protocol Platypus is in talks with Aave and stablecoin issuer Tether in order to recover the funds stolen from last week’s exploit. In a major announcement on Thursday, February 23, decentralized finance (DeFi) for stablecoins – Platypus Finance – announced a major compensation to users affected in the recent exploit. In a major exploit, hackers drained more than 49 million from the protocol last week. Platypus said that it would repay a minimum of 63% of the funds to its users after it recovered the funds. In order to…

Binance Launches Airdrop Portal for Holistic User Experience

Leading exchange Binance recently launched a dedicated Airdrop Portal that keeps track of all supported tokens.  Binance has announced the launch of an Airdrop Portal, which shows an overview of airdrops supported by the crypto exchange. With this new initiative, the Binance community can now keep abreast of the latest progress regarding airdrops. The one-stop Binance Airdrop Portal also provides comprehensive information on all available tokens hosted on the Portal. Available details include the Airdrop Period, Snapshot Time, Token Status, and Mode of Operation. Although Binance pledges to continually update the Airdrop…