Decentralized trading platform Synthetix has raised $12 million from venture capital firms Coinbase Ventures, Paradigm and IOSG. The raise looks to be a rare occurrence of VCs investing through the purchase of a platform’s native token directly from its treasury rather than wiring funds to its founders. Synthetix is run by a DAO, or a
A recap of a swath of news about corporate players coming into the crypto space, and why it could change the landscape of regulation. This episode is sponsored by Nexo.io. On this edition of the weekly recap, NLW breaks down the entrance of corporates into the crypto space this week, including: He also argues that
Decentralized finance protocols (DeFi) Cream Finance and Alpha Finance were victims of one of the largest flash loan attacks ever Saturday morning resulting in a loss of funds totaling $37.5 million, according to transaction details on Etherscan. Two hours later Cream said its contracts were “functioning as normal” and markets had been enabled. Alpha Finance
Seven female coders from Iran got scholarships and graduated from a bootcamp of ConsenSys Academy, Ethereum startup incubator’s educational branch. The scholarships, a part of ConsenSys’ global program to help developers start coding on the Ethereum blockchain, might provide additional opportunities for people in the country largely cut off from the international tech community. Women
Deutsche Bank has joined the growing ranks of large financial institutions exploring cryptocurrency custody, with aspirations to offer high-touch services to hedge funds that invest in the asset class. The Deutsche Bank Digital Asset Custody prototype aims to develop “a fully integrated custody platform for institutional clients and their digital assets providing seamless connectivity to
It will take 21 years for the rest of the world to mine as much of the Chia (XCH) cryptocurrency as the company behind it will have on the day its mainnet launches next month. “We believe that chia, a new digital currency built on our new blockchain with radically different features and security than
Editor’s Note: Welcome to the year of the Ox. Blockchain Bites will not publish on President’s Day, Monday, Feb. 15. Three stories Bull market buzz The first bitcoin exchange-traded fund in North America has been approved by Canada’s securities regulator, a move some commenters see as opening the door for the U.S. to follow. The
Policymakers in India will provide a transition period if a proposed ban on cryptocurrency usage is passed as expected. According to a report by Bloomberg on Thursday, a senior Financial Ministry official – speaking under condition of anonymity – told Bloomberg cryptocurrency holders were likely to be given a three-to-six month period to close their
The first publicly traded bitcoin exchange-traded fund (ETF) in North America has been given the go-ahead by Canada’s financial regulator. According to a decision document on Thursday, the receipt of approval from the Ontario Securities Commission (OSC) was filed under a Multilateral Instrument passport system in multiple Canadian jurisdictions. Those territories include British Columbia, Alberta,
With BTC setting a new record above $48K and Mastercard implementing crypto payments, CoinDesk’s Market Daily is back with the latest news roundup. Add Markets Daily to your Alexa Flash Briefing here. This episode is sponsored by Nexo.io. Bitcoin’s price hits new all-time high over $48,000 despite U.S. Treasury Secretary Janet Yellen’s warning that cryptocurrencies
Microsoft has launched a browser game that rewards players with non-fungible tokens (NFTs) for use inside Minecraft, one of the world’s most popular games. According to a press release shared to CoinDesk on Thursday, Azure Space Mystery is a text-based interactive and educational puzzle game set aboard the International Space Station. There, players encounter prominent
LucasFilms has fired Gina Carano, an actress in The Mandolorian. The firing comes on the heels of Carano’s controversial social media posts. LucasFilms called her recent posts ‘abhorrent,’ but we’re struggling to make the connection. Gina Carano is going to a galaxy far, far away. Actually, she’ll still be right here; we just won’t be
Amazon’s grip on the internet economy appears to be coming for currency next, with the e-commerce giant preparing to launch a “digital currency” project in Mexico. The yet-to-be-announced project, which Amazon sketched out across a series of recent job posts, appears to be an effort to keep lucrative Prime customers eternally plugged into Amazon’s platform.
Blue Ridge Bank is letting customers buy bitcoin where they retrieve cash. Customers at the Charlottesville, Va.-based bank will soon be able to buy and redeem bitcoin at 19 of its ATMs. To make this happen, the bank has partnered with BluePoint ATM solutions, a national ATM operator, and LibertyX, a Boston-based bitcoin ATM software
A website imitating the defunct cryptocurrency exchange QuadrigaCX has been posted online as of Tuesday, hoping to lure unsuspecting victims. A warning notification was sent out on Tuesday from both the exchange’s law firm Miller Thomson, which represents the now-former users of Quadriga, and Ernst and Young (EY), a court-appointed bankruptcy trustee for the exchange.
Tesla’s $1.5 billion bitcoin investment couldn’t have come at a better time for the electric car manufacturer. As it happened, about the time the company revealed its massive stake in the cryptocurrency on Feb. 8, Chinese officials had announced that five agencies were questioning Tesla about quality and safety issues. Specifically, China’s State Administration for
Welcome to State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. I’m your host, Nikhilesh De. Are governments worrying more about the growth of crypto? Two countries already announced crypto-related bans, though this could be an extension of previous efforts at controlling the space – and their own economies –
Crypto exchange BitMEX has published a framework of principles for how best to store additional batches of transactional provenance data, a requirement exchanges face as part of new anti-money laundering (AML) rules. In order to fall in line with the rest of the financial system, virtual asset service providers (VASPs) have been asked to obtain,
The price of bitcoin blew through $46,000 for the first time ever like a light saber through cotton candy as Tesla’s announcement earlier Monday that it had bought $1.5 billion of the leading cryptocurrency added jet fuel to its record run. UPDATE (Feb. 8, 23:35 UTC): Updates to add bitcoin passed $46k for the first
The Bank of Korea (BOK) has published the results of research it conducted last year on the legal issues surrounding central bank digital currencies (CBDCs). The research concludes that a CBDC would meet the requirements of currency legislation and could be freely exchanged with cash as the two share the same legal status. Therefore it
With the wild journey that is bitcoin price swings so far this year, you might have missed the accelerating rhythm of companies announcing services to support bitcoin for payments. We’re not talking about small idealistic startups, either. A week ago, on Visa’s Q1 earnings call, CEO Al Kelly said the company may add cryptocurrencies to
The Central Bank of Nigeria (CBN) issued a five-page statement Sunday clarifying its position on cryptocurrencies after a regulatory warning to local banking institutions on Friday sent shockwaves through social media. In Sunday’s statement, the CBN said Friday’s letter was only a reminder that cryptocurrencies were not legal tender in Nigeria, and was reiterating a
Serbia has extradited a man to the U.S. after he was indicted by a Dallas-based federal grand jury on allegations that he duped investors around the globe–several of whom are in northern Texas–out of more than $70 million. The scheme involved soliciting investments in binary options and cryptocurrency mining, the U.S. Department of Justice alleged.
Is Bitcoin digital gold? In this episode of ‘On Purpose, With Tyrone Ross’, we dig into bitcoin narratives as financial advisors see them and explore the concept of bitcoin as a store of value. “Saying ‘Internet Money’… What else in my portfolio is like Internet Money? Hmmm….” said independent investment advisor and ‘On Purpose’ host
Miller Value Funds–run by veteran hedge fund manager and bitcoin bull Bill Miller–may invest in the Grayscale Bitcoin Trust through its flagship fund, the Miller Opportunity Trust. “The Fund may seek investment exposure to bitcoin indirectly by investing in the Grayscale Bitcoin Trust, an entity that holds bitcoin,” the fund wrote in a filing with
Wyoming’s Cynthia Lummis – the first U.S. senator to publicly hold bitcoin – has been appointed to the key financial regulatory committee. This episode is sponsored by Nexo.io. On this edition of The Breakdown’s weekly recap, NLW discusses: The state of WallStreetBets The Bitcoin for Corporations event ETH all-time highs in advance of CME ETH
Binance has temporarily suspended deposits in Nigerian naira – the country’s local fiat currency – in response to a Friday letter from Nigeria’s central bank (CBN) instructing local banks to identify and close all accounts tied to cryptocurrency platforms or operations. The CBN letter told local banking institutions that dealing in cryptocurrencies or facilitating payments
When Elon Musk changed his Twitter bio to “#bitcoin” last week it moved the market, but not just for bitcoin itself. Users of UniWhales could see big holders making moves in real-time. Matt Aaron, the CEO of UniWhales, sent CoinDesk screenshots showing three big moves of liquidity providers exiting USDC/ETH and USDT/ETH positions on Uniswap.
Indian cryptocurrency exchanges have started a joint initiative to convince parliament to regulate cryptocurrencies rather than impose an outright ban. Under the #IndiaWantsBitcoin campaign, the exchanges have launched websites – indiawantscrypto.net and indiawantsbitcoin.org – to help Indian citizens email their representatives at the Loksabha (the lower house of parliament) asking for positive and progressive regulation
South Korean retail investors pointed to the U.S. GameStop saga to pressure local regulators to extend the country’s ban on short-selling stocks. They succeeded, at least for now. Then, GameStop happened. In January, retail investors in the U.S. banded together on Reddit to bet in favor of stocks (like that of American video game store