Day: May 26, 2023

Cronos Labs launches second cohort of $100M Web3 accelerator

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Blockchain startup accelerator Cronos Labs has announced the launch of its second cohort for the Cronos Accelerator Program. The program, backed by a substantial $100 million investment, aims to support early-stage crypto projects by providing mentorship and funding opportunities.  According to an announcement sent to Cointelegraph, Cronos Labs handpicked eight projects to participate in their accelerator program. Each of the selected projects — namely Omnus, DeMe, Furrend, Solace, Sakaba, Eisen Finance, Earn Network and CorgiAI — received upfront seed funding of $30,000 to commence a 12-week program. The chosen projects…

The Sandbox CEO’s Twitter was hacked, used to promote alleged ‘airdrop’ scam

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Arthur Madrid, co-founder and CEO of metaverse project The Sandbox, was the victim of a Twitter account hack on May 26, according to a post from Madrid that was apparently made after he recovered the account. The attacker allegedly used Madrid’s account to promote a fake “airdrop” phishing scam. In Madrid’s post, he warned Sandbox users that they should “never click on any link that promote Airdrop or URL and look SCAMMY – and not 100% using our proper and unique URL/domain name : http://sandbox.game.” My Twitter was hacked today.…

World Economic Forum offers guidance on global crypto regulations

The WEF has released a comprehensive report suggesting global guidelines to regulate the complex and rapidly-evolving crypto industry, emphasizing the need for harmonized regulations to ensure market stability and investor protection. The World Economic Forum (WEF) has released a significant study on the challenges and opportunities surrounding international cryptocurrency policy. The report, titled “Pathways to the Regulation of Crypto-Assets,” asserts that the present-day regulatory landscape is too disjointed to effectively safeguard markets and investors. The WEF argues that crypto’s unique, decentralized structure means that traditional financial protections may not apply…

ECB sums up digital euro prototyping exercise as it nears possible pilot launch

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The European Central Bank (ECB) has published a summary of the results of its digital euro central bank digital currency prototyping exercise. The exercise investigated offline use of a simulated digital euro and four other instances of interoperability with existing payments systems. The project was part of the second phase of Eurosystem preparations for a potential pilot launch of a digital euro in the fall of this year. The exercise ran from July 2022 to February 2023. Eurosystem developed a centralized settlement engine for the exercise called N€XT that used…

Bitcoin miner Canaan’s net loss slightly improved in Q1 amid market turbulence

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Chinese Bitcoin mining company Canaan reported slight improvements in some of its financial metrics in the first quarter of 2023. The progress, however, is still far behind where it was last year in this period. According to an unaudited report posted on its investor relations page, Canaan’s net loss was at $84.4 million in Q1, lower than its $91.6 million net loss in the previous quarter. The net loss represents a major reversal compared to the same period of 2022, when the firm reported a net income of $65.1 million.…

A16z releases anonymous voting system for Ethereum

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Venture capital fund Andreessen Horowitz, also known as A16z, has released a Solidity library that can be used for anonymous voting on Ethereum. Called “Cicada,” the library prevents an individual voter’s choice from being known before polling ends. When combined with zero-knowledge group membership systems like Semaphore, it can also make the identity of the voter permanently unknowable, according to a May 24 blog post from A16z engineer Michael Zhu. Excited to announce Cicada: a new building block for private on-chain voting. https://t.co/hxE4KL4Se6 — moodle zoup (@moodlezoup) May 24, 2023…

SOL sees minor retreat, falls 5.54% over week

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Despite recent news around Solana’s launch of a new ChatGPT plugin, the SOL token sees a 5.54% decrease in price in the last 7 days. Looking at the past month, this marks a 14.64% price decrease for the layer-1 blockchain, known for its fast and cheap transactions. A rough week At the time of writing, Solana (SOL) was priced at $19.45, accompanied by a 24-hour trading volume of $152.5 million. Over the past 24 hours, SOL…

A week filled with exploits and uncertainty for DeFi: Finance Redefined

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Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. After a bullish April, May was another month of exploits, rug pulls and hacks, bringing back uncertainty to DeFi. The most prominent headline marker in the past week was the Multichain protocol. The cross-chain DeFi protocol’s delayed node upgrade created a spiral impact and tanked its token price by 30%. The Multichain protocol saga impacted multiple DeFi protocols, forcing Binance to suspend…

Neuralink gets FDA approval for ‘in-human’ trials of its brain-computer interface

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Elon Musk’s brain-computer interface (BCI) startup, Neuralink, reportedly received approval from the United States Food and Drug Administration (FDA) to conduct some form of “in-human” trials for its surgically implanted brain device.  Congratulations Neuralink team! https://t.co/AWZGf33UDr — Elon Musk (@elonmusk) May 26, 2023 It’s unclear at this time what kind of trials the Neuralink tweet is referring to — the only other information mentioned was that the company isn’t accepting applicants yet. Neuralink was denied the FDA’s approval for human trials in early 2022 over several concerns related to safety,…

Why have Bitcoin and crypto lost 60% of their market cap since their all-time highs?

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Macro Markets, hosted by crypto analyst Marcel Pechman, airs every Friday on the Cointelegraph Markets & Research YouTube channel and explains complex concepts in layperson’s terms, focusing on the cause and effect of traditional financial events on day-to-day crypto activity. The latest Macro Markets show begins by exploring why the crypto market capitalization is some 60% below its all-time high, while the S&P 500 is less than 15% away from its peak. For Pechman, the sector is suffering from a huge problem, as it doesn’t fit a commodity nor does…