Month: May 2023

Multichain team cannot locate CEO, halts service for affected chains

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Cross-chain protocol Multichain revealed on May 31 that its team has been unable to contact its CEO, Zhaojun, fueling rumors that the protocol’s leadership may have been arrested in China amid ongoing technical issues.  “The team has done everything possible to maintain the protocol running, but we are currently unable to contact CEO Zhaojun and obtain the necessary server access for maintenance,” noted a Twitter thread. As reported by Cointelegraph, the protocol has experienced technical problems over the past week, with transactions delayed across multiple cross-chain bridges without a clear…

Fewocious Teases Upcoming Fewo NFT Collection

According to its website, Fewos are characters in Fewoworld, Fewocious’ Web3 universe of digital art. The three species of Fewo NFTs – Frankenstein, Misunderstood, and Humanoid – have their own unique artistic traits. There are no details on the price of the NFTs at this time. Source

Tether expands reach in Georgia through investment in CityPay​.io

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​​Stablecoin issuer Tether announced on May 31 that it is expanding its presence in the Republic of Georgia through a strategic investment in CityPay.io, a payment processing company that operates across more than 600 locations in the country. Tether expands its presence in Georgia We have invested in https://t.co/14g9wt7PCC, a leading local payment processing company. You can now pay with #USDt and #Bitcoin in over 600 shops, hotels, and restaurants. Learn More https://t.co/WjrOAymJRv pic.twitter.com/Ud78paop5O — Tether (@Tether_to) May 31, 2023 CityPay.io provides payment services to a wide range of customers, including major…

EU officials sign Markets in Crypto-Assets framework into law

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Officials with the European Union have signed the Markets in Crypto-Assets, or MiCA, bill into law following final approval from finance ministers. On May 31, Sweden’s minister for rural affairs, Peter Kullgren, and European Parliament President Roberta Metsola signed the long-anticipated cryptocurrency regulatory framework into law roughly three years after the European Commission introduced the measure. Lawmakers in the EU had batted the MiCA framework from legislative body to body, with different aspects of the bill subject to debate, before reaching final approval in 2023. EU news MiCA has been…

NFT collections take massive price hit in 2023: Nifty Newsletter, May 24–30

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In this week’s newsletter, read about some of the most popular nonfungible token (NFT) collections and top metaverse properties taking massive price hits in 2023. Check out how the Hong Kong Police Force launched its own metaverse platform, and how Reddit’s digital collectibles have managed to onboard almost 10 million users to the crypto and NFT space. In other news, infamous crypto hater Peter Schiff has launched his own NFT collection on Bitcoin Ordinals.  Popular NFT collections take massive price hit in 2023 The value of popular NFTs from 2022…

Fantom starts paying developers to generate gas fees

A new program from the Fantom Opera network (FTM) team will pay developers for the gas fees they generate from users, according to a May 31 announcement. Specifically, the “Gas Monetization Program” will pay eligible developers 15% of the total gas fees their apps generate. Gas Monetization on #Fantom is live! ⛽ The program provides dApps with a sustainable income by offering them a 15% share of the gas fees they generate. Over 12,000 $FTM has been distributed thus far https://t.co/BqpuKtrZh0 — Fantom Foundation (@FantomFDN) May 31, 2023 Six Web3…

QORPO Game Studio joins Cointelegraph Accelerator

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The Web3 gaming world saw consistent growth and exciting developments in the first quarter of 2023, according to a DappRadar report. Traditional Web2 gaming companies started to notice blockchain technology’s potential, resulting in a total of $739 million invested in blockchain games and metaverse projects during the first quarter of 2023. From the open-world role-playing games to battle royale-themed shooters, gaming quickly turned to a major point of interaction between users and Web3, with almost half of blockchain activity coming from gaming. While play-to-earn provides a fresh take on players’…

Price analysis 5/31: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC

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Bitcoin and most major altcoins are struggling to hold on to their higher levels, indicating that the bears have not given up yet. After rising for four successive months, Bitcoin is on track to end May with losses of about 7%. Another noteworthy thing in May is that Bitcoin’s (BTC) 30-day volatility dropped to 1.52%, which is far below the yearly average of 4% and higher. Glassnode data shows that Bitcoin’s low volatility periods have only lasted for 19.3% of its total price history. Hence, there is an expectation for volatility to…

Russia Abandons Plans for State-Run Crypto Exchange, Puts Focus on Regulating Centralized Platforms: Report

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Russia is reportedly giving up on plans to launch a state-owned crypto exchange and is instead expected to regulate private ones. According to a new Izvestia report, Russia’s Ministry of Finance rejected the idea of establishing a national crypto exchange, after the idea was discussed late last year. Says Ivan Chebeskov, director of the financial policy department of the Ministry of Finance of the Russian Federation, “The Ministry of Finance did not support the establishment of one national crypto-exchange, rather there was an idea to legally regulate the possibility of…