“In light of the recent turmoil in the crypto-asset market, the G7 urges the FSB (Financial Stability Board)…to advance the swift development and implementation of consistent and comprehensive regulation,” the ministers wrote in a draft communique seen by Reuters Source
Crypto gaming has grown in popularity as more players collect and trade digital assets, generating a dependable income for game developers and creating value for players. In a recently published report, Cointelegraph Research shows how Axie Infinity gamers in the Philippines were able to earn their regular monthly salary in 2020 simply by playing the game, at a time when measures to prevent the spread of the COVID-19 pandemic brought economic hardship to the country. Axie Infinity is a powerhouse of play-to-earn (P2E) blockchain gaming, not unlike Bitcoin’s (BTC) status…
Andrew Kang spoke to the Wall Street Journal Wednesday regarding MicroStrategy’s bitcoin strategy. Source
A shocking amount of nearly 13 billion SHIB has already been removed from the systemic circulation supply over the past 24 hours. As tweeted by the Shiba Inu transaction tracker @Shibburn, this is because the coin is being sent to dead-end wallets. The platform also burns Shiba Inu to help keep the supply down. Most of this massive amount of SHIB was destroyed in just one hour. Related Reading | Blockchain Data Indicates $10M Worth Of Ether From The Ronin Exploit In Rotation In a tweet on May 18, Shibburn…
Rostin Behnam said the agency was facing a rapidly increasing number of cases and would add resources to address crypto fraud. Source
When a stablecoin issuer issues stablecoins into the market, it normally keeps a corresponding asset in reserve to secure, or back, the stablecoin’s peg. As redemptions requests arrive, these reserves get used up. Because a stablecoin’s reserves are key to guaranteeing stability, the big, centralized stablecoin issuers have adopted the practice of providing information about their assets. In regularly published attestation reports, an independent auditor is asked to offer assurance about the quantity and composition of reserves backing the stablecoin. Source
Crypto venture fund giant Andreessen Horowitz (a16z) has highlighted that development and demand on Ethereum is “unmatched” despite the network’s high transaction fees. The firm does warn, however, that its “popularity is also a double-edged sword” given Ethereum prioritizes decentralization over scaling, resulting in competing blockchains stealing market share with “promises of better performance and lower fees.” The comments came via a blog post introducing a16z’s 2022 “State of Crypto” report, with the firm’s data scientist Daren Matsuoka, head of protocol design and engineering Eddy Lazzarin, General Partner Chris Dixon,…
Central bank governors and finance ministers from the Group of Seven, or G7, are reportedly planning to discuss the regulation of cryptocurrencies. According to a Tuesday report from Reuters, Bank of France Governor François Villeroy de Galhau said representatives from the United States, Canada, Japan, Germany, France, Italy, and the United Kingdom will likely speak on issues related to a regulatory framework for cryptocurrencies at a meeting in Germany’s cities of Bonn and Königswinter starting on Wednesday. Villeroy reportedly said that the recent crypto market volatility — likely referring to…
Square Enix has announced its new mid-term business plan, reinforcing its blockchain pivot according to the documents presented. The company will continue to invest in key companies in the blockchain arena, including Animoca Brands and The Sandbox, and will also consider other investments in the area. Square Enix recently sold its Western studios for $300 million, but will reportedly not use the funds to pursue these new Web3 investments. Square Enix Structures Blockchain Strategy Square Enix, the Japanese gaming company, seems determined to include blockchain and play-to-earn (P2E)…
“We thought it might make sense now that there’s all of these new and interesting focus areas in crypto that there’s data for, that there’s totally public information that you can go out and scrounge for yourself,” Eddy Lazzarin, head of protocol design and engineering for the a16z crypto team, told CoinDesk in an interview. Source