Blockchain Industry News (Adidas)

This week’s digital currency looks stable. Hopefully, the new year opens up great security functions. Let’s explore how are crypto moment and its user cases…

Bitcoin

  • MicroStrategy purchases $414.4 million worth of Bitcoin, with total BTC balance eclipsing $3.5 billion. The business data analytics firm has been investing in BTC since August 2020.
  • $3.3B Bitcoin mining company Griid to list on NYSE via SPAC deal. The company projects it can mine up to 25,000 BTC per year by 2024.
  • Regulatory fears put a damper on Ethereum traders’ $5,000 target. This week, ETH price came within 2% of a new all-time high before U.S. lawmakers announced a hearing to discuss stablecoins and the need for eventual regulation.
  • MercadoLibre plans to accept BTC and cryptocurrencies as payment for all products. The Latin American e-commerce platform selected Brazil to kick-off crypto payments via its MercadoPago application.
  • SEC rejects WisdomTree’s application for spot Bitcoin ETF. The Cboe BZX Exchange used the examples set by CME’s crypto futures products in its argument for approval, but the SEC rejected them.
  • El Salvador stacks 150 Bitcoin after BTC price crashes below $50k. With this purchase, El Salvador’s Bitcoin reserve now amounts to 1,270 BTC, which is worth nearly $60.3 million at the time of writing.

Blockchain

  • Borderless Capital launches $500M Algorand-focused Fund. Product will participate in DeFi liquidity mining, yield farming, lending, borrowing and trading.
  • ZCash surges 7% after Digital Currency Group CEO announces $85M purchase. The price of ZEC surged to $243.84 following Silbert’s announcement but has still fallen more than 20% since reaching a six-month high of more than $300 on Thursday.
  • IDEX to launch hybrid liquidity decentralized exchange on Polygon. The platform seeks to provide solutions to drawbacks on traditional DEX platforms, most notably front-running and slippages.
  • Korea’s Hashed raises $200 million for Web3 Investments.
  • Iota set to launch decentralized smart contract platform to expand Web3 ecosystem. The Assembly mainnet has pledged to distribute 70% of its native ASMB token supply to an array of community participants.
  • Nakamoto Games reveals NAKA DUI, the third game launching on the Nakamoto Games platform. NAKA DUI is a highly addictive racing game which calls all skilled drivers to join the P2E revolution.
  • WOO Network and NEAR Foundation partner after closing $5M token swap. As part of the partnership, WOO Network will be a key builder in the NEAR Protocol ecosystem.
  • Celsius Network confirms it lost money in the BadgerDAO DeFi hack. Celsius Network may have lost around $50 million because of the exploit.
  • 0x expands partnership with Celo to distribute $4.5M to DAO ecosystem.
  • EasyFi Network has launched its #BuildWithEasyFi initiative to encourage the developer community to leverage various benefits offered by the EasyFi ecosystem.

Crypto

  • Galaxy Digital raises $500 million in convertible debt to fund business expansion.
  • DEX aggregator 1inch Network closed a $175 million Series B round of funding. With that, the liquidity sourcing business is now valued at a massive $2.25 billion. Hong Kong-based Amber Group led the round.
  • WisdomTree and Ritholtz Wealth Management launch crypto index. Offering will be available to financial advisors via Onramp Invest. Gemini to serve as its custodian.
  • FTX releases crypto regulation proposals before US congressional hearing. The “FTX’s Key Principles for Market Regulation” blog consists of a 10-points proposal aiming to help U.S. regulators build a crypto-centric regulatory framework.
  • Solana library bug could have seen attackers stealing $27 million an hour. A bug impacting major Solana projects, which had been publicly disclosed, sat unnoticed for six months.
  • Authorities in Russia and Ukraine have closed down a number of illegal crypto mining facilities allegedly powered by stolen electricity.

Metaverse

  • UpOnly builds the first Play to Earn and Metaverse Data Directory. Visit uponly.com, study all play2earn and metaverse related data and take smarter decisions. What Coinmarketcap is for coin prices, UpOnly will become for game and metaverse data.
  • Nakamoto Games rebuilds the whole real-world economy in the Metaverse. The NAKAVERSE will be a fully self-sustaining economy with a revenue stream worth billions. Acquire digital land, utilize it, rent it and capitalize on the value appreciation.
  • Meta expands crypto advertisement eligibility on Facebook. The company said it will allow many more crypto and blockchain advertisements on Facebook and Instagram due to expanded eligibility terms.
  • Adidas enters the Metaverse with NFT partnerships “It’s time to enter a world of limitless possibilities,” said the staff behind the world-renowned sports clothing line.
  • Popular Metaverse Altcoins see $100,000,000 worth of virtual real estate sales in one week.

NFT

  • UAE issues first NFT stamps in the Middle East. The United Arab Emirates has adopted a favorable approach towards crypto. Now, its postal operator is issuing NFTs to commemorate National Day.
  • Bored Ape Yacht Club Lead Artist set to release her new NFT Collection. The artist known as “All Seeing Seneca” told Blockworks how it feels to see her primate drawings turn into a billion-dollar empire.
  • Ross Ulbricht Genesis Collection NFT Auction sees millions of dollars in Ethereum bids. Two days the Ross Ulbricht Genesis Collection auction of non-fungible token assets kicked off at Art Basel Miami via the Superrare platform.
  • BitMart was hacked and lost almost $200M. The hack was first reported by PeckShield. $100M outbound transfers were made in ETH while $96M on BSC.

Read our previous blogs here.

Credit: Telegram VYSYN – Capital News

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Mansi Nashte
Articles: 74

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