Day: October 1, 2023

Investors eyes blockchain analytics, gaming and crypto privacy

Crypto startups keep raising capital despite tight liquidity and adverse macroeconomic conditions. September saw major developments in the space, such as Farmville co-creator Amitt Mahajan raising $33 million to create Web3 games, and Animoca Brands disclosing $20 million capital gathered to push forward the development of its Mocaverse platform. In another related development, Blockchain Capital closed two new funds in September, with $580 million to be deployed in crypto gaming and decentralized finance projects in the coming months. Cointelegraph’s VC roundup showcases the latest projects raising capital despite the market’s long…

Over $200m worth of crypto will enter circulation in October

This month, about $200 million in crypto will be released into the market. At least six large projects account for over 80% of the total, or $174 million, as reported by TokenUnlocks. This considerable surge could create a substantial shift in the market dynamics of these assets. The so-called “token unlocks” process involves the distribution of previously restricted assets into the cryptocurrency landscape. Leading the pack, Axie Infinity (AXS) aims to release a staggering 15.13 million tokens—about 11.5% of its circulating supply — roughly worth $71.2 million. Another significant player,…

Tokenization is “securitization done on steroids” — Franklin Templeton CEO

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Securitization, a practice with over 50 years of history, is undergoing a dramatic transformation, believes Jenny Johnson, CEO of Franklin Templeton, one of the world’s largest asset managers. During CNBC’s Delivering Alpha event, Johnson noted that tokenization — the process of converting asset ownership rights into digital tokens on a blockchain — is akin to “securitization done on steroids,” a term often used to describe something that exceeds expectations. Johnson’s remarks were part of an analysis of the future of alternative investment vehicles. The executive noted that available capital and…

Bitcoin posts first quarterly decline of 2023

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Bitcoin (BTC) fell to $27,000 at the end of September. This was the cryptocurrency’s first quarterly decline of the year, with its price being sensibly lower than three months ago. In July, Bitcoin hovered at about $31,000. This translates to a fall of nearly 13% over the second quarter of 2023. Per Bloomberg data, Bitcoin surged 83% in the first two quarters of 2023, but traded in a relatively narrow range over the past few months amid an uncertain macroeconomic environment. While the Federal Reserve left interest rates unchanged at…

Brazil Rolls Out National Digital ID Powered By Blockchain

Brazil is at the forefront of a new era in digital identity verification, leveraging blockchain technology to revolutionize their identification systems. This strategic move is driven by the pursuit of enhanced security, efficiency, and streamlined processes for their respective populations. In Brazil, the government has unveiled plans to integrate blockchain technology into its national identity program, with Rio de Janeiro, Goiás, and Paraná taking the lead in this pioneering initiative. Serpro, Brazil’s national data processing service, is spearheading the development of a private blockchain platform that will underpin the revenue…

Will Bitcoin ‘Uptober’ bring gains for MKR, AAVE, RUNE and INJ?

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After rising about 80% in the first two quarters of 2023, Bitcoin (BTC) fell roughly 11% in the third quarter ending September. However, there is a silver lining for the bulls because they managed a positive monthly close in September, the first since 2016. Buyers will try to build upon this momentum in October, which has a bullish track record. According to CoinGlass data, only 2014 and 2018 have produced negative monthly returns since 2013 in October. There is no guarantee that history will repeat itself but the data can…

Vitalik Buterin cautions staking pools adopting DAO model

Ethereum co-founder Vitalik Buterin has voiced concerns over the increasing influence of DAOs in selecting node operators within liquidity staking pools. In a recent blog post, Buterin cautioned against the growing influence of decentralized autonomous organizations (DAOs) in determining who operates Ethereum (ETH) staking pool nodes.  Buterin said that this development could place staking pools at risk from malicious entities. “If a single staking token begins to dominate, it could lead to one potentially vulnerable governance mechanism controlling a large part of all Ethereum validators.” Vitalik Buterin, Ethereum co-founder Buterin…

Microsoft to form nuclear power team to support AI: Report

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Tech giant Microsoft is apparently forming a new team to advance its artificial intelligence plans by hiring a professional to develop an energy strategy based on Small Modular Reactors (SMRs) and microreactor energy. According to a job post reported by The Verge, Microsoft is looking for a principal program manager who will lead its nuclear technology efforts to support the development of AI models. “The next major wave of computing is being born, as the Microsoft Cloud turns the world’s most advanced AI models into a new computing platform,” according to…

Bitwise to launch two Ether-themed ETFs Monday

Bitwise has verified that trading for two Ethereum futures exchange-traded funds (ETFs) will begin on Oct. 2. Bitwise Asset Management, the largest crypto index fund manager in the U.S., announced its plans to launch two Ethereum-themed ETFs: the Bitwise Ethereum Strategy ETF (AETH) and the Bitwise Bitcoin and Ether Equal Weight Strategy ETF (BTOP). Bitwise announced today that two groundbreaking Ether futures ETFs intend to begin trading on Mon, October 2: the Bitwise Ethereum Strategy ETF (ticker: AETH) and the Bitwise Bitcoin and Ether Equal Weight Strategy ETF (ticker: BTOP).…