Monthly Archives: March 2022

Sanctions Against Russia Pose A Conundrum For Bitcoin

Bitcoin is a free and open monetary network, accessible by anyone — which makes sanctions quite ineffective. Almost half of Russia’s $630 billion reserves have been seized by foreign governments since the invasion of Ukraine. It was relatively easy to do given modern financial infrastructure. The mainstream temptation is to react favorably to this move. Russia will be poorer and so less able to fund its war. The baddies lose, the goodies win. Now consider the story of the Canadian truckers who have been criminalized by their […]

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New SEC guidance on accounting and disclosures rankles Commissioner Peirce

Peirce, sometimes referred to as the Crypto Mom, found the new guidance to be an example of the SEC’s “scattershot and inefficient approach to crypto.” U.S. companies that safeguard their clients’ crypto-assets received new accounting guidance Thursday in the form of a Securities and Exchange Commission, or SEC, Staff Accounting Bulletin. The guidance got a strong response from SEC commissioner Hester Peirce, a steadfast crypto advocate. Staff Accounting Bulletin 121 noted the high technological, legal and regulatory risks associated with the custody of crypto-assets, relative to traditional […]

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Ten31 Partners With Seetee For Powerhouse Bitcoin Infrastructure Investment Initiative

Seetee will be the lead investment partner of Ten31 for Bitcoin-based projects, companies and founders while the two companies continue individual investments. Bitcoin investment companies Seetee and Ten31 have partnered to drive investments in Bitcoin infrastructure. The partnership will see Seetee become Ten31’s lead investment partner for Bitcoin-based projects, companies and founders. The two companies have a track record of investing in over 20 Bitcoin companies and continue to represent values widely held in the space. Bitcoin investment companies Seetee and Ten31 announced a partnership meant to […]

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Layerzero Labs Secures $135 Million to Bolster Cross-Chain Interoperability

Layerzero Labs, the firm behind the interoperability protocol Layerzero, has revealed the company has raised $135 million in a Series A+ finance round led by Andreessen Horowitz (a16z), FTX Ventures, and Sequoia Capital. The new financing brings Layerzero Labs’ overall valuation to $1 billion and the funds will be leveraged to develop cross-chain decentralized applications (dapps) powered by Layerzero. Layerzero Raises $135 Million From Andreessen Horowitz, FTX Ventures, Sequoia Capital On March 30, 2022, the company Layerzero Labs announced it had secured $135 million in a Series […]

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Welcome to NovaTerra: Coorest’s Upcoming P2E Metaverse

PRESS RELEASE. NovaTerra is a Metaverse MMORPG featuring a play-to-earn model. The game is set in a post-apocalyptic future, where humanity has turned the planet into a barren wasteland. Following the planet-wide devastation, massive drought has made water an extremely scarce and valuable resource. The player character is a survivor who is helping to rebuild society and terraform this post-apocalyptic wasteland. The gameplay revolves around farming, building and cooperation between players. Successfully farming crops and cooperating with other players will reward the player with the game’s main […]

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Economically Incentivized Innovation Sets Bitcoin Apart: Unitary Money

The specific attributes of Bitcoin create an environment poised for incredible leaps in innovation. Introduction Several people have recently brought up the contention that bitcoin, as a deflationary money, cannot truly function as real money. This was brought to the surface again by Natasha Che (@RealNatashaChe) in a long Twitter thread. These arguments against a deflationary currency all condense to a belief that, since the money will have more purchasing power tomorrow, no one will spend it today. While this may be a reasonable assumption when a […]

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Traders predict $3,800 Ethereum, but multiple data points suggest otherwise

Is it time for a correction after ETH rallied 34% in two weeks? On-chain metrics and derivatives data say yes. Investors tend to not complain about a price rally, except when the chart presents steep downside risks. For example, analyzing Ether’s (ETH) current price chart could lead one to conclude that the ascending channel since March 15 is too aggressive. Ether price at FTX, in USD. Source: TradingView Thus, it is only natural for traders to fear that losing the $3,340 support could lead to a retest […]

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Chiliz launches public testnet for its new layer-1 blockchain

Focused on the sports and entertainment industries, the Chiliz Chain 2.0 blockchain network was birthed in collaboration with decentralized infrastructure protocol, Ankr. Digital asset sporting project Chiliz has announced the launch of the Scoville testnet for the newly-established layer-1 blockchain network Chiliz Chain 2.0, also known as CC2. CC2 will seek to advance the Web3 capabilities of high-profile sporting and entertainment firms to create nonfungible token (NFT) and fan tokens, construct decentralized finance (DeFi) applications and play-to-earn (P2E) games, as well as implement a range of programmes and […]

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‘The cryptocurrency world will help in this war’: Kuna CLO breaks down Ukraine’s digital asset law

According to Ganna Voievodina, Ukraine’s law on digital assets was adopted “just in time” for companies handling crypto and a government looking for tax revenue. While many parts of Ukraine are still facing threats from Russia’s military, some residents, industry leaders and government officials are turning to digital assets for help in relocating people, funding humanitarian aid projects and getting supplies to its own soldiers. On Feb. 17, exactly one week before Russian forces began their attack on Ukraine, the country’s legislature adopted the “On Virtual Assets” […]

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Cleanspark Reveals Texas Expansion — Bitcoin Miner Plans to Add 500 MW of Mining Power

Bitcoin miner Cleanspark has revealed the company is expanding operations in Texas with up to 500 megawatts (MW) of renewable power. The firm has inked a deal with the Houston-based Lancium to initially secure 200 MW of Lancium’s renewable power and has the option to obtain 300 MW more going forward. Cleanspark Reveals Plans to Expand to the Lone Star State, Firm Partners With Texas Energy Firm Lancium On Thursday, the Nevada-based Cleanspark revealed plans to add up to 500 MW of renewable power to fuel its […]

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