Day: June 5, 2023

Introducing CoinDesk’s First-Ever ‘Consensus @ Consensus’ Report

At least, that is a recurrent theme throughout CoinDesk’s first-ever Consensus @ Consensus report, out today. Based primarily on intimate group discussions that took place at Consensus 2023, it covers a wide range of pressing issues challenging the digital assets industry. These include the newly urgent subject of regulation, the competing demands of privacy and law enforcement, the difficulty of bringing self-custody to the mainstream, the future of crypto media, and more. The discussion groups, which convened largely offstage in Austin, Texas, from April 26-28, 2023, represented a cross-section of…

New Stablecoin Issuer Raft Is Eschewing Fiat for Its Financial Backing

While the biggest stablecoins, Tether’s USDT and Circle Internet Financial’s USDC, are backed by conventional assets like U.S. Treasurys, those backed instead by crypto assets have had mixed success. MakerDAO’s DAI, which is collateralized by a combination of Ethereum-based tokens, stablecoins and real-world assets such as U.S. government bonds, has accumulated about $4.6 billion of market capitalization. Meanwhile, Do Kwon’s UST – which was backed by his LUNA token – collapsed spectacularly a year ago. Source

Met Museum Agrees to Return $550K in FTX Donations, Highlights Ethical Concerns

The Metropolitan Museum of Art in New York City cited ethical concerns surrounding the cryptocurrency exchange’s operations while has announcion its decision to return $550,000 in donations received from FTX. The Metropolitan Museum of Art (Met Museum), renowned as one of the United States’ most esteemed cultural institutions, has made the decision to return a substantial donation of $550,000 that was generously contributed by the cryptocurrency exchange FTX. Court filings to the United States Bankruptcy Court on Friday disclosed that the Met has chosen to return the donations it had…

Ripple Eyes IPO as XRP Lawsuit Draws to End

XRP’s lawyer thinks the outcome could be determined by September based on recent events. In light of this, Ripple is allegedly meeting with investors to discuss their interest in an IPO. As its legal battle related to XRP with the Securities and Exchange Commission (SEC) draws to a close, there are rumors that Ripple may conduct an IPO. Wall Street expert Linda Jones hinted at the possibility by outlining the advantages of a potential initial public offering. Linda used information from Linqto to determine the potential stock value of Ripple,…

Hong Kong’s regulatory lead sets it up to be major crypto hub

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Hong Kong — officially the Hong Kong Special Administrative Region of the People’s Republic of China — is a city of over seven million residents on the eastern Pearl River Delta in South China. The city is known for being pro-innovation and technology, and over the past year, it has introduced legislation to promote and adopt cryptocurrencies. Hong Kong is a major world economy, serving as a center for investment and trade in the region. The city is a cosmopolitan metropolis with Western and Asian influences, and is a well-established…

Web3 could bring it back

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Consider what it means to be a sports organization in 2023.  Is the success of their brand simply a parallel to the quality of each team’s performance, how proficiently an organization advertises their events and merchandise to their fans or simply defined by community, where consumers gather around the products and services that speak to each fan’s individual interests? It is in fact all of these things, and so much more.  Since the 1960s and with the gradual advancements in advertising, our perception of what it means to rally around…

Bitcoin Ordinals upgrade addresses ‘cursed inscriptions’ issue

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Renowned code sculptor and Ordinals theorist Raph has announced the release of v0.6.0, a new update to the protocol that treats the “cursed inscriptions” and improves RPC credential management. These inscriptions address a critical challenge in protocol development by enabling extensions without altering existing inscription numbers. The Ordinals protocol maintains backward compatibility by embracing cursed inscriptions while fostering innovation and growth. Just released a new version of ord (0.6.0), which implements the first steps in recognizing…

UBS to Complete Acquisition of Credit Suisse by Mid-Month

As part of a government-backed rescue plan earlier this year as well as a bid to prevent any financial market instability, UBS acquired Credit Suisse in a $3.2 billion deal. The long-awaited conclusion of the Credit Suisse Group AG (SWX: CSGN)  acquisition by investment banking giant UBS Group AG (SWX: UBSG) may happen “as early as June 12”. This will signify the birth of a massive Swiss bank with a balance sheet of $1.6 trillion. All that is left for the deal to be completed is its registration statement and…

Are Web3 apps under scrutiny?

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The rise of Web3 apps, or decentralized applications (dApps), has been nothing short of a journey in recent years. From blockchain-based social media platforms to non-fungible tokens (NFTs), the Web3 ecosystem has definitely started moving in a positive direction. However, as great as the positives are, there have been some bumps on the road and they don’t seem to be going away anytime soon. With the recent restrictions imposed by some of the biggest tech companies, the future of Web3 apps has come under scrutiny and is making the process…