Monthly Archives: January 2022

Solana ecosystem wallet Phantom raises $109M

Phantom, the cross-platform Solana wallet built for DeFi and NFTs, achieved unicorn status after attaining a $1.2 billion valuation. Software wallet and browser extension Phantom has raised $109 million in Series B financing to continue expanding its cross-platform capabilities beyond Solana.  The funding round was led by Paradigm, an investment firm focused on cryptocurrency and Web3 companies. Other venture firms to have supported Phantom in prior funding deals include Andreessen Horowitz, Jump Capital and Variant Fund. According to Phantom, the funding will help enhance the wallet’s technical […]

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Salvadoran President Nayib Bukele Expects Bitcoin to Experience a ‘Gigantic Price Increase’

El Salvador’s president, Nayib Bukele, believes that it’s just a matter of time before bitcoin sees a “gigantic price increase.” Bukele stressed on Twitter that bitcoin is extremely scarce and there’s not enough bitcoin in the world for all today’s millionaires. Salvadoran President Says Best Time to Buy Bitcoin ‘Is When the Price Is Down’ as IMF Warns Nayib Bukele’s Government The Salvadoran bureaucrat, businessman, and the 43rd president of El Salvador, Nayib Bukele, is a big believer in the value of bitcoin (BTC). El Salvador and […]

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What the hell is Web3 anyway?

Web3 or Web 3.0 as crypto boomers like to call it is a topical buzzword with only a very vague definition. Everyone agrees it has something to do with a blockchain-based evolution of the internet but, beyond that, what is it really? Yet, the conversation surrounding the meaning and prospects for Web3 has become very fashionable in crypto communities. The term gets thrown about by big corporates trying to muscle in on the space while avoiding the negative connotations of crypto. But, without an agreed-on definition, it […]

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Blockchain enthusiast allegedly losses $500k by sending WETH to contract address

While the contract does wrap ETH sent to the address into WETH, the opposite is not true. In a now-deleted deleted profile, an anonymous Reddit user allegedly lost close to $500 thousand on Sunday after sending wrapped Ether (WETH) directly into a WETH wrapping smart contract. WETH came into existence as a way for Ether (ETH) to conform to the ERC-20 token standard so that it can be traded directly with altcoins minted on the Ethereum blockchain. To wrap Ether, users first send ETH to the WETH […]

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Turkish blockchain company opens regional crypto exchanges in globalization bid

The first stop for Bitci’s international expansion, also a first for a Turkish crypto exchange, is Brazil. Turkish blockchain provider Bitci is seeking to establish local crypto exchanges in Brazil and Spain in a bid to lure local crypto investors. A Bitci spokesperson told Cointelegraph that Bitci is planning to open new crypto exchanges in the countries where the company has sizeable deals and assets, as Reuters reported. The first stop for Bitci’s international expansion, also a first for Turkish crypto exchanges in general, is Brazil. Bitci […]

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Bitcoin, Ethereum Technical Analysis: BTC up 10% From Same Point Last Week

Despite trading lower on Monday, bitcoin is up over 10% from the same point last week, with ETH also gaining within that period. In general, crypto markets were weaker to start the new week. Bitcoin Following some strong rallies over the weekend, BTC/USD gave back some of these gains on Monday, falling to an intraday low of $36,733.57. This comes after the world’s largest cryptocurrency edged closer to the $40,000 level, by hitting $38,168.01 during Sunday’s session. The move saw its 14-day RSI climb to 38, however […]

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Powers On… The Fed endorses cryptocurrency — Kind of

This month, the Board of Governors of the United States Federal Reserve System issued its widely anticipated report on the nations possible use and adoption of digital currencies for its financial system. The document is titled Money and Payments: The U.S. Dollar in the Age of Digital Transformation, and true to its name, the paper is transformative. Powers On… is a monthly opinion column from Marc Powers, who spent much of his 40-year legal career working with complex securities-related cases in the United States after a stint […]

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FTX exchange breaks $32B valuation despite crypto winter fears

FTX raised $400 million funding shortly after its U.S.-based sister firm raised the same amount last week. Despite growing fears over a potential cryptocurrency market downturn, major industry firms like FTX keep gaining momentum by securing hundreds of millions in fresh funding. FTX Trading, the owner and operator of Sam Bankman-Fried’s crypto exchange FTX, officially announced Monday that it closed a $400 million Series C funding round, bringing the firm to a $32 billion in valuation. The new fundraise comes several days after FTX’s United States-based sister […]

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NFT philanthropy demonstrates new ways of giving back

Organizations and artists are using NFTs to give back to children in need, demonstrating new potential for nonfungible tokens. NFTs, or nonfungible tokens, have created a wealth of opportunities over the last year. Data from market tracker DappRadar found that NFT sales reached $25 billion in 2021. Artwork NFTs in particular have seen impressive growth. Financial services firm FinancePR recently determined that 257 artists generated at least $1 million in the past 30 days from selling NFT artwork. It’s also notable that NFT transactions have continued to […]

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Judge Orders Argentinian Soccer Association to Drop Binance Deal

A judge has decided to stop the deal the Argentinian Soccer Association (AFA) signed last week with Binance, one of the leading exchanges in the cryptocurrency world. María José Gigy Traynor dictated a prohibitory injunction ordering the cancellation of all deals announced or signed with Binance, due to exclusivity contracts the AFA still has with Socios.com. The contracts include the issuance of a new fan token. Argentinian Soccer Association Blocked in Binance Deal The Argentinian Soccer Association (AFA) has been ordered to stop all the deals it […]

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