Nonfungible tokens (NFTs) have not rebounded to the same extent as the overall cryptocurrency market. Even the most prominent collections in the industry, like Yuga Labs’ Bored Ape Yacht Club (BAYC), have experienced substantial discounts. On July 3, Will Clemente, co-founder of Reflexivity Research, disclosed that BAYC’s value had dropped by 90% from its peak.
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A recent study conducted by KuCoin has found that nearly half, or 49%, of German crypto investors believe that digital currencies have the potential to help them achieve their long-term wealth accumulation goals. Furthermore, one in four individuals surveyed stated that they view crypto as a store of value, especially during times of economic turbulence.
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Pluxee, a digital-first employee benefits and engagement platform, has joined forces with the DFINITY Foundation and Yumi to introduce a groundbreaking initiative aimed at boosting employee engagement. This collaboration marks a significant shift toward a Web3 approach to workplace culture. The partnership aims to launch Pluxee’s first-ever NFT collection, aptly named “The X Collection,” which
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John Michael Musbach, a 34-year-old resident of Haddonfield, New Jersey, has recently been sentenced to six and a half years in jail for a heinous crime. Musbach hired a hitman on the Dark Web to murder a child who was about to testify against him in a child-pornography case. This child, who was the victim
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According to an analysis conducted by the Atlantic Council, nearly all major economies are actively exploring the implementation of Central Bank Digital Currencies (CBDCs). This study revealed that 130 nations, accounting for approximately 98% of the global GDP, have expressed interest in CBDCs. While 11 countries, including China, have successfully launched their own CBDCs, another
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Erik Voorhees, the founder of Shapeshift and a well-known advocate for Bitcoin, believes that decentralized finance (DeFi) has already addressed the issue of regulatory clarity that restricts people from possessing or trading a majority of cryptocurrencies. The crypto industry is worried that cryptocurrencies, other than the four listed on the newly launched EDX Markets, namely
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Binance Research, the research arm of the world’s largest cryptocurrency exchange, recently conducted a survey to gauge the outlook of institutional investors towards cryptocurrencies. The survey, titled the “Institutional Crypto Outlook Survey,” was conducted between March 31 and May 15, 2023, with 208 global institutional clients and VIP users participating as respondents. These respondents represented
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TRM Labs, a prominent firm specializing in blockchain analysis and the prevention of cybercrime, has recently published a detailed report outlining the significant sums of money lost to malicious actors within the crypto industry throughout 2022. These figures are particularly striking, given the decline in prices and waning interest in the market over the past
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Bitcoin Cash (BCH) has recently experienced an astonishing rally, surging by 70% in just seven days. This significant price increase has sparked speculation about the potential of Bitcoin Cash surpassing Bitcoin. Currently trading near the $300 level, BCH has already completed an impressive 78.2% Fibonacci retracement, adding further interest to its upward trajectory. In this
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American multinational investment giant, Citigroup Inc., is reportedly reevaluating its collaboration with Swiss firm Metaco. Metaco specializes in providing crypto custody services for institutional investors and joined forces with Citi a year ago to develop and pilot the latter’s digital asset custody capabilities. However, recent market volatility has strained the relationships between traditional financial firms
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Reports have emerged that the U.S. Securities and Exchange Commission (SEC) has returned recent spot Bitcoin exchange-traded fund (ETF) applications. These applications, submitted by exchanges on behalf of BlackRock and Fidelity Investments, among others, were regarded as not meeting the required standard of being “sufficiently clear or comprehensive.” The SEC’s decision was based on the
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The South Korean National Assembly recently passed the Virtual Asset User Protection Act, a comprehensive piece of legislation that aims to regulate the cryptocurrency industry in the country. The act combines 19 different bills related to cryptocurrencies and focuses primarily on investor protection. The move comes in response to a series of crypto-related scandals that
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Ledger, a well-known crypto wallet service provider, has unveiled its latest product offering called Tradelink. This innovative trading and settlement network technology is specifically designed for asset managers, custodians, and exchanges/OTC with off-exchange trading capabilities. The primary goal of Tradelink is to simplify processes and enhance operational speed for these entities. Streamlining Trading Processes Tradelink
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French fashion brand Lacoste has taken a significant step in embracing non-fungible tokens (NFTs) by expanding its NFT ecosystem. The brand has introduced a rewards and co-creation feature for its UNDW3 community, following the successful release of its UNDW3 collection of profile picture (PFP) NFTs. With this expansion, Lacoste aims to provide its community with
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CME Group, a prominent trading platform for derivatives, has announced its plans to introduce Ether/Bitcoin ratio futures this summer, subject to regulatory approval. This new futures product, set to launch on July 31, 2023, will enable traders to speculate on the relative price movement between the two cryptocurrencies. About Ratio Futures Contracts A ratio futures
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The Blockchain Association is urging SEC chair Gary Gensler to recuse himself from regulatory proceedings, claiming that his statements display a “clear bias” against the cryptocurrency industry. Senior counsel Marisa Coppel argues that Gensler’s assertion that all cryptocurrencies, except for Bitcoin, should be classified as securities demonstrates a prejudgment of the facts without proper assessment
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Cryptocurrency exchange EDX Markets, which recently launched, is reportedly in final negotiations with Anchorage Digital to serve as its custodian. This comes after EDX Markets terminated its collaboration with Paxos, a blockchain infrastructure firm, as reported by Bloomberg. Paxos was initially intended to be the custodian for EDX Markets, providing customers with direct access to
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The Law Commission of England and Wales has recommended that digital assets, including cryptocurrencies, should be classified under a new category of personal property. In its final recommendation report to the government, the Law Commission outlined four specific recommendations. These recommendations focus on legislation for a distinct category of personal property, the creation of an
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