Despite the cuts, the company still has several years of runway as it looks to build a sustainable operation, Svanevik said. The company has raised a total of $88.2 million over four funding rounds over the years, led by crypto investment firms such as L1 Digital and Old Fashion Research, Crunchbase data shows. Source
The cyber security unit of the Hong Kong Police Force have launched CyberDefender, a new metaverse platform designed to educate the public of the potential dangers associated with Web3 and the metaverse. According to a May 27 statement, the Cyber Security and Technology Crime Bureau (CSTCB) of the Hong Kong Police Force unveiled a new metaverse platform, CyberDefender, in an effort to prepare its citizens for the โchallenges ahead in the digital ageโ with a focus on technology crime prevention. “Exploring the Metaverse” event in the CyberDefender metaverse on May…
After five years out of the Japanese market, crypto exchange Binance has begun the process of establishing a new and fully regulated subsidiary in the country. The move follows the acquisition of the regulated crypto exchange Sakura Exchange Bitcoin (SEBC) in November 2022.ย As part of the deal, SEBC will cease its current services by May 31 and reopen as Binance Japan in the coming weeks. Users of the exchange’s global platform in the country will have to register with the new entity. The migration will be available after August…
The shutdown of the unit, which provides trading services to institutional investors, will be effective as of May 31, a DCG spokesperson told CoinDesk in an emailed statement. “Due to the state of the broader economy and prolonged crypto winter, along with the challenging regulatory environment for digital assets in the U.S., we made the decision to sunset the institutional trading platform side of the business, known as TradeBlock, effective May 31, 2023,” the spokesperson said. Source
โThe significance of this large volume can be positive, as it indicates liquidity and market validation,โ said Ghergelas. โHowever, there are also potential negatives, as high volumes on Blend could increase the price volatility, impacting market stability and making it difficult for traders to predict price movements accurately.โ Source BlendBlursDappRadarLendingMarketNFTPlatformShare CryptoX Portal
After months in a closed beta, the NFT lending platform has witnessed the highs and lows of its competitors in the space and aims to boost NFT market liquidity while protecting the interests of lenders and borrowers. Source
Nanjing City in China has introduced the China Blockchain Technology and Application Innovation Platform with the aim of establishing the China metaverse technology and application innovation platform. The foundation for metaverse research and development Led by Nanjing University of Information Science & Technology (NUIST), a newly established Chinese state-backed organization hasย announcedย the launch of a platform dedicated to metaverse research and development. NEWS: Nanjing, the capital city of China’s eastern Jiangsu province, has launched a metaverse platform to enhance research in related fields. ๐ฐ: https://t.co/iJVTndtwvR pic.twitter.com/VNNK2eAitp โ CoinGecko (@coingecko) May 24,…
Nanjing City, the capital of Jiangsu Province in China, on May 22, inaugurated the China Blockchain Technology and Application Innovation Platform. This government-supported platform aims to foster and advance metaverse research and development across the country. The newly established state-backed entity is led by the Nanjing University of Information Science & Technology (NUIST). As per an announcement on NUIST’s official social media account, the platform consists of founding members representing diverse academic institutions and blockchain-related companies throughout mainland China. The objective of this platform is to bring together the resources…
On May 22, Nanjing, the capital city of Chinaโs eastern Jiangsu province, inaugurated the Chinese Blockchain Technology and Application Innovation Platform to foster and advance metaverse research and development across the country. The newly established state-backed entity is led by the Nanjing University of Information Science and Technology (NUIST). As per an announcement on NUISTโs official social media account, the platform consists of founding members representing diverse academic institutions and blockchain-related companies throughout mainland China. The platform aims to bring together the resources of academic institutions and enterprises in China,…
Stablecoins anchor their price to an external asset, usually to a government-issued fiat currency, and allow cheaper and faster transactions using blockchain technology. Despite its growing adoption in developing countries, U.S. dollar-denominated stablecoins dominate the market, representing roughly 99% of the combined supply, according to CoinGecko data. Source