Blockchain Industry Update (Microsoft, Dragonfly Capital, Cash Tech, Mark Cuban)

What is your choicest Investment — Bitcoin and Ethereum? Find out their performance and other DeFi news with our current week update on Blockchain Industry…

Bitcoin

  • Microsoft deploys solution on Bitcoin, calls it the most secure network. Microsoft’s Daniel Buchner has confirmed the release of ION. Deployed on the Bitcoin mainnet, this solution is a permissionless public network for Decentralized Identifiers.
  • Binance adds two former FATF members to its team.
  • New Zealand Retirement Fund invests in Bitcoin. The KiwiSaver Growth Strategy fund, part of New Zealand’s retirement savings program, has allocated 5 percent of its money to bitcoin.
  • Is General Motors planning to accept Bitcoin Payments? Statements from the company’s CEO are ambiguous but encouraging.
  • Norwegian billionaire buys Bitcoin after calling for its ban last week. Øystein Stray Spetalen reportedly invested “heavily” in crypto exchange MiraiEx and Bitcoin.
  • Oaktree Capital’s Howard Marks has warmed up to bitcoin. He admitted that he had a knee-jerk reaction to the cryptocurrency and dismissed it too soon.
  • New Zealand Fund Manager reveals $17.5 Million Bitcoin Investment at $10,000 per BTC last October.

Crypto

  • Dragonfly Capital launches new $225 million funds to invest in DeFi, NFT, and more projects.
  • Indian companies must disclose crypto holdings. As the Indian government requires companies to disclose crypto holdings, the industry welcomes the move but keeps its expectations low.
  • Institutional inflows into crypto hit lowest levels since October. Managers bought $21 million worth of digital asset investment products last week, according to Coinshares. On a market-cap adjusted basis, Ethereum remains the most popular investment.
  • Coinbase is forced to pay a fine. Popular leading cryptocurrency exchange Coinbase is getting some guff from the Commodity Futures Trading Commission in the form of a $6.5 million penalty.

DeFi

  • Six Chinese state-owned banks are now allowing public users to apply to activate digital yuan wallets in Shanghai and Beijing. Suggesting yet another step toward a wider rollout. Users were required before to either win a lottery or be invited to activate a digital yuan wallet to participate.
  • Avanti finalizes $37M Series A Round and prepares Digital Bank Launch. The company is using the proceeds of the funds for the regulatory capital required to launch its digital asset bank, engineering costs and other operating expenses.
  • Russian companies and government losing interest in Blockchain. A survey was conducted by Dell Technologies and involved speaking to 200 companies from Russia last year.
  • Acala Network wins a parachain slot on Polkadot testnet. The Polkadot-focused DeFi platform focuses on supplying liquidity across different blockchains. And it just moved a step ahead.
  • Chinese banks are now allowing citizens to apply for a digital yuan wallet.
  • Cash Tech’s Next Steps! Storage solution, cross-chain swaps, and merchant gateway upcoming! After the successful listing on Uniswap and the introduction of the liquidity staking program, Cash Tech reveals short-term roadmap.
  • WINk soars as retail DeFi investors flee high Ethereum gas costs. WINk’s low-cost yield farming offerings are attracting retail DeFi investors who have been priced out of Uniswap due to high Ethereum gas costs.
  • Cash Tech is introducing a token burn program that will make CATE tokens significantly more scarce by radically reducing the total supply. The burn program will destroy 10% of the weekly USD cumulative trading volume in CATE tokens for a total of two weeks.

Ethereum

  • Ethereum “Killer” Solana surges 14% on a slow market day. The biggest overnight growth spurts came from left-of-mainstream cryptocurrencies.
  • Visa to settle USDC transactions on Ethereum.


NFT

  • Mark Cuban sees NFT ticketing as the mass-market disruptor. According to the Shark Tank star, NFT ticketing offers are a more practical use case than investment in digital art.
  • Recur raises $5 million for perpetual cross-platform NFT royalties. A seed round in a new NFT platform is a promising step towards universal NFT royalties.
  • Justin Sun launching NFT Fund, minting Beeple on TRON. Justin Sun has announced the launch of an NFT fund called JUST NFT. It will focus on tokenizing art pieces valued at $1 million or more.

Credit: Telegram VYSYN – Capital News