Day: September 26, 2023

Particle Network Records Huge Success with WaaS V2, Sees Over 15M Wallet Activations in One Year

The success highlighted by the feat reinforces the popularity of WaaS. Web3 infrastructure provider Particle Network has said that its rollout of Wallet-as-a-Service (WaaS) V2 is proving to be a huge success. According to a recent press release, the company saw more than 15 million wallet activations in under a year since it launched the service. The success highlighted by the feat reinforces the popularity of WaaS, but more importantly, it is also a testament to the ever-growing demand for more user-friendly web3 onboarding solutions. Explaining how the record user…

Alibaba’s Cainiao Files for $1B IPO on Hong Kong Stock Exchange

The significance of this IPO is further highlighted when considering the expected global ranking of this offering. Cainiao Smart Logistics Network Ltd, the logistics unit of Alibaba Group Holding Ltd (HKG: 9988) has taken a significant step by submitting its A1 filing to the Hong Kong Stock Exchange, aiming to raise at least $1 billion in its Initial Public Offering (IPO). Alibaba to Hold Huge Stake in Cainiao Despite listing Cainiao on the Hong Kong Stock Exchange, Alibaba is set to maintain a significant stake in the logistics unit. As…

WAGMI Games to Launch Its Founder’s Pack on OpenSea on September 27

Each pack contains a narrative-driven, playable character for WAGMI Defense, the inaugural mobile game from WAGMI Games. The community-driven Web3 entertainment franchise WAGMI Games has revealed that its upcoming Founder’s Packs will be launched exclusively on the NFT marketplace OpenSea on September 27th. These Founder’s Packs, comprise 10,000 unopened card packs. It’s developed in collaboration with Gadget-Bot, the renowned art studio behind designs in popular franchises like Transformers 4, Jurassic World, Apex Legends, and Call of Duty. Each pack contains a narrative-driven, playable character for WAGMI Defense, the inaugural mobile…

SEC Chair Gary Gensler Is Wrong About Proof-of-Stake Tokens Like ETH

“The investing public is investing anticipating a return, anticipating something on these tokens, whether they’re proof-of-stake (PoS) tokens, where they’re also looking to get returns on those proof-of-stake tokens and getting 2%, 4%, 18% returns. Whatever they’re promoting and putting into a protocol, and locking up their tokens in a protocol, a protocol that’s often a small group of entrepreneurs and developers are developing, I would just suggest that each of these token operators … seek to come into compliance, and the same with the intermediaries.” Source

Meta’s Threads Is Lowest Social Media App by Number of US Users after Tumblr

Threads has lost nearly all of its initial momentum as the app is now struggling to attract new users and keep existing ones on the platform. Threads, the Twitter rival launched by Meta Platforms Inc, is going through its fair share of struggles as new users are no longer joining the platform. According to a Tuesday publication from Insider Intelligence, Threads is the only app above Tumblr on a ranking of the most popular social media services according to the number of users in the US. Insider Intelligence also says that…

Leaked Documents Hint at Microsoft’s Crypto Plans for Xbox

Crypto integration into Xbox also has the potential to onboard millions to crypto, further propelling adoption. Recently leaked internal documents suggest that Microsoft plans to integrate crypto wallets into its Xbox gaming console. The documents were posted on the gaming forum ResetEra and reveal that an Xbox roadmap from May 2022 featured plans to add support for crypto wallets to the next version of Microsoft’s flagship gaming console. The documents were leaked in connection to a Federal Trade Commission’s (FTC) lawsuit against the tech giant’s proposed acquisition of Activision Blizzard…

Immunefi launches on-chain bug bounties through ‘Vaults’ system

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Blockchain security platform Immunefi has launched an on-chain system for bug bounties, according to a Sept. 26 announcement. The new system, called “Vaults,” allows Web3 developers to escrow funds in an on-chain address and use them to pay out bug bounties to white hat hackers. Immunefi believes the new system will help projects “demonstrate to whitehats […] that they have allocated sufficient funds to pay bounties,” which it hopes will result in “more top-tier bug reports” being submitted. List of Immunefi bug bounties. Source: Immunefi Software developers often offer rewards,…

Kraken Registers in Spain and A Subsidiary Receives Ireland License

“We see a firm foundation for crypto in Europe, which has forward-looking regulation that enables us to grow with confidence,” said Curtis Ting, Kraken’s vice president of global operations. “We are grateful for the constructive approach to regulating industry growth set by the Central Bank of Ireland and the Bank of Spain. In both Ireland and Spain, we are excited to become part of their vibrant local fintech sectors. We also look forward to continuing our investments in Europe more broadly.” Source IrelandKrakenLicenseReceivesRegistersSpainSubsidiary CryptoX Portal

IRS Proposed Rule on Digital Asset Broker Reporting Could Kill Crypto in America

Although the IRS has finally released its proposed rulemaking, it did so nearly two years after the IIJA was passed. If the digital asset ecosystem is to have clarity in tax matters, it will require the IRS to provide both timely and well-informed guidance — something it has fallen short of doing to date. For instance, in July the IRS released guidance that said staking rewards should be taxed at receipt as gross income. However, this guidance does not take into account the realities and complexities of staking. Source