Day: May 18, 2023

Blockchain developers launch $50M fund to increase Wormhole adoption

A $50 million fund has been launched to help startups that use the Wormhole cross-chain messaging protocol, according to a May 18 announcement. The new fund is being managed by venture capital fund Borderless Capital and is backed by over 20 other blockchain development teams and venture capital firms, including Circle, Polygon Ventures, Solana Foundation, JumpCrypto, and others. It’s time to make building in crypto more accessible than ever before. Introducing the $50m Cross-Chain Ecosystem Fund, powered by Wormhole! pic.twitter.com/y3VeCsUrSa — Wormhole (@wormholecrypto) May 18, 2023 The fund will help…

Former CFO indicted for diverting $35M to cryptocurrency venture

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Nevin Shetty, a former Chief Financial Officer (CFO) at a Seattle start-up company, was indicted on May 17 in the U.S. District Court in Seattle on charges of wire fraud.  The indictment alleges that Shetty, 39, diverted approximately $35 million from the start-up company’s coffers to a cryptocurrency platform under his personal control. Shetty reportedly established this platform, known as HighTower Treasury, in February 2022, shortly before being notified of his impending departure as CFO due to concerns regarding his performance.  During the period from April 1 to April 12, 2022, Shetty…

Polygon to List Carbon Assets Pool From Solid World

Such contracts are often used in hedging strategies, but in the Solid World case they can bring certainty to carbon credit projects with long horizons. The liquidity pool will bring key funding to the mangrove projects “while providing structured inventory to distributors seeking to sell high-quality carbon credits,” the press release said. Source

Galaxy Digital Executed its First OTC Options Trade as Demand for On-Chain Options Ramps Up

The ability to trade bilateral options tied to cryptocurrencies with Galaxy removes credit risk, which is normally associated with traditional OTC options trades, Galaxy said in a statement. This is because users send their collateral to a smart contract rather than to a counterparty, making the user less exposed to the counterparty and what they might be doing with one’s collateral. Source

Should Bitcoin censor BRC-20 and Ordinals? The raging debate

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As Bitcoin network fees increase and congestion builds, the rise of BRC-20 tokens and Ordinals NFTs has sparked a debate within the crypto community: should Bitcoin limit or even ban these new technologies? The direction this discussion takes could significantly impact the future of Bitcoin. On March 9, 2023, Domo, an anonymous on-chain analyst, announced on Twitter a theoretical concept of BRC-20, ERC-20-like tokens on the Ordinals protocol. Things remained cool until early April when the number of Ordinals inscriptions skyrocketed, and Bitcoin network fees began surging exponentially. In May,…

Binance Integrates Its Spot Trading Platform with TradingView

The integration of TradingView will give Binance users access to a wide range of tools while exposing Binance products to traditional investors. The Binance Spot market trading platform has been integrated with TradingView, a leading charting platform that offers traders a greater insight into the markets. The news broke via a press release seen on Thursday, May 18. Providing Greater Insight into the Market via Tools and Data With the integration, users of Binance will have access to a wide range of tools featured on TradingView, enabling them to approach…

Hyperbitcoinization coming, says Bitcoin OG as ‘wholecoiners’ hit 1 million

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Bitcoin (BTC) has crossed a significant threshold this month — and while it does not involve price, it does involve “millions.” Data from on-chain analytics firm Glassnode confirms that as of May 18, there are over one million addresses which hold at least 1 BTC. Back: Adoption trend lays path to “hyperbitcoinization” It was a long time coming and received much attention on social media, and the time is finally here — there are one million entities which own a whole bitcoin. These “wholecoiners” have been steadily accruing since mid-2021,…

Hector Network Fight Centers on Efficacy of DAO Governance

For more than an hour, members peppered the lawyer, who identified himself as Dali from the tech law firm Sparring, with questions about HIP 40, a proposal to wrap Hector Network within an offshore corporate structure that includes directors, supervisors and a management board. In other words: an organization with many of the centralized facets DAOs are supposed to replace. Source

How can legal chatbots enhance access to justice?

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Legal chatbots gather information from users, process that data, find applicable legal information and give the user advice or refer them to a qualified lawyer if necessary. Here are the general steps of how legal chatbots function: Information gathering The chatbot gathers data from the user via queries or prompts, which may include the nature of the legal issue, the location and any other relevant information.  When a user first accesses the chatbot, a message asking about the nature of their legal problem is displayed to them. Suppose the user…