Month: May 2023

TON accelerator program commits $25m this year for innovation

The TON accelerator program, supported by the $250 million TONcoin.Fund, has committed to allocating up to $25 million this year to support projects within the TON ecosystem. The capital will be channeled into a range of strategic initiatives complemented by valuable partnerships and mentorship from the program’s accelerator partners. More DeFi development TONcoin.Fund, a dedicated TON-based fund with $250 million backing it, is set to provide the capital that will be allocated to a range of projects placing an emphasis on the field of decentralized finance (DeFi).  Each selected project…

Bitcoin BTC Price Holds Steady Near $27K as Investors Weigh Debt Ceiling Developments

boss

Among major equity indexes, the tech-focused Nasdaq Composite climbed 0.5% to hit a 2023 high, while the S&P 500, which has a vital technology component, and Dow Jones Industrial Average (DJIA) ticked up 0.2% and 0.4%, respectively. Yields on Treasurys rose, and the price of gold sank slightly to $1,990, well below its near-record high early this month when investors were turning more to safe-haven assets. Original

Pizza for $260m and other ridiculous purchases with bitcoin

boss

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied On May 22, 2010, an early bitcoin enthusiast Laszlo Hanyecz purchased 2 pizzas and paid using just about 10 thousand BTC coins. At the time, bitcoin was trading at the sub-penny value: the total value of the cryptocurrency was about $41. About 13 years later, the leading cryptocurrency is worth $ 26,880 at the time of writing; this means that the total value of those pizzas is now over $268 million.  13 years ago tomorrow the…

MicroStrategy endorses ‘fair value model’ proposal for reporting crypto holdings

MicroStrategy, the largest public holder of bitcoin, has joined the growing list of supporters backing proposed rule changes by the financial accounting standards board (FASB), which seeks to eliminate impairment charges for companies holding cryptocurrencies. As of March 31, MicroStrategy held approximately 140,000 BTC, giving it a significant position in the crypto market. Introducing the fair value model Under the current generally accepted accounting principles (GAAP), crypto assets are classified as “indefinite-lived intangible assets” and subject to impairment testing, which identifies a permanent decline in their value. When the carrying…

Crypto Miner Core Scientific Hopes to Emerge from Bankruptcy by September, Lawyers Say

Once the crypto industry’s largest mining company, Core Scientific suffered an astounding, and swift, fall from grace last November, when bitcoin prices cratered amid cryptocurrency exchange FTX’s mid-November implosion. The company went public with a $4.3 billion valuation in 2021, but its market capitalization had fallen to $78 million by the time it filed for bankruptcy last December. Source

Bitcoin NFTs Take No. 2 Spot In Months

boss

The data shows that in the past thirty days, Bitcoin NFTs have grossed about $167 million, which is several figures shy of Ethereum’s near-$397 million. However, NFT sales on Bitcoin are nearly three times larger than on the Solana network, according to Cryptoslam, trailing behind at about $57 million. Original

Crypto Hacks Are Down and Hackers Tend to Return Stolen Money – Report

A possible explanation might be increasing regulatory attention to the crypto hacks and a number of high-profile enforcement cases, TRM Labs suggests. First of all, crypto exchanges are ramping up their KYC/AML policies, making it harder to cash out stolen coins. At the same time, the ETH mixing protocol Tornado Cash, which has been one the most popular money laundering tool for Ethereum so far, has been under the U.S. sanctions since August 2022, which automatically backlisted all Tornado-related funds for any regulated exchange. Source

The Making of the Doge Documentary

Yeah, I think we wanna do a hybrid model for that. On the one hand, it’s so cool what we can empower through blockchain, and through the [shared] ownership of the Doge image. Maybe everyone who wants to opt-in as DOG holders, or Doge Pixel holders, gets into the credits of the film. Things like that, right? Or maybe there’s a meme competition where people submit animation to the film. Source

U.S. Lawmakers Can Get Crypto Regulations Right if They Act Now

Yes, disclosures are in order. However, there are some disclosures that don’t apply, as well as things you might want to know about a digital asset that wouldn’t be included in current disclosure requirements. For example, MiCA requires that projects disclose the type of blockchain consensus mechanism they use, and its environmental impacts. But for now, they can do that in a public whitepaper, rather than a prospectus. Providing new definitions and rules like these seems like a better course than regulation by enforcement. Source