Bitcoin | Ethereum | Altcoin

2022-05-17 18:20:05 Square Enix plans to issue tokens and invest heavily in Web3 gaming

The major game developer is reshaping its business strategy to include a more robust NFT ecosystem by investing in blockchain gaming infrastructure.Gaming giant Square Enix has revealed in its Q1 earnings report that it will expand nonfungible tokens (NFTs) into more game products as part of its medium-term business strategy in 2022.

The report states that the firm piloted NFTs on the Shi-San-Sei Million Arthur game starting in February this year. The success of the pilot program will lead to the second season of the game’s NFTs and will ultimately see the firm pursue broader activities in the NFT and blockchain industries.Among the top priorities of its blockchain domain initiatives, SE plans on establishing regulatory clarity and guidelines for blockchain games, tackling scalability in NFT economies and considering founding a corporate capital venture unit.

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2022-05-16 17:07:02 FTX CEO Testifies at House Hearing; Defends Plan to Automate Futures Market

FTX CEO Sam Bankman-Fried testified before the House Agricultural Committee on Friday following a proposal to regulate futures markets with automated tools.Amidst skepticism, FTX CEO Sam Bankman-Fried made his case for using computers to perform margin calls on leveraged positions at a hearing on Friday in Washington, D.C.

In his testimony, Bankman-Fried testified that the new automated system would be healthy for markets.“Rather than choosing between liquidating a position too early over fear of what could happen over the next two days of exposing one’s self to systemic risk, there can be a real-time, more precise judgment about the health of the position,” he lobbied.FTX’s new product would need customers to deposit collateral in their FTX accounts, ensuring enough funds to cover their margins.

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2022-05-15 18:22:02 Nigeria Issues Crypto Asset Rules In A Move That Could Boost Adoption

The Securities Exchange Commission of Nigeria has published new rules relating to the issuance, exchange and custody of digital assets in the country. This comes 20 months after the Commission initially issued a statement on how it would classify and treat digital assets.

Digital assets are a catch-all term for all types of crypto assets.SEC’s position is also in stark contrast to that of the Central Bank of Nigeria (CBN), which currently restricts local financial institutions from doing business with crypto-related businesses. Notably, the new SEC rules require token issuance platforms and exchanges to maintain trust accounts with receiving banks.

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2022-05-14 17:19:02 Fearing a De-peg, Whales Dump $710 Million Worth of Tether (USDT)

Whales have been actively dumping their USDT holdings on the market after the danger of a de-pegging, according to the most current statistics from Santiment. The price of USDT briefly fell to $0.97 yesterday, but quickly returned to $1.

Key whale addresses sold $710 million of Tether in yesterday’s trading session alone, according to on-chain statistics. The enormous selloff is currently regarded as the greatest one-day dump of USDT on whale addresses in history. Santiment has not supplied any information regarding the network to which these IP addresses were assigned.The fundamental cause of the whales’ concern was very definitely UST’s difficulties in maintaining the peg with the US dollar.

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2022-05-13 08:40:04 Bitcoin drops below $27,000 level as crypto sell-off continues

Bitcoin dropped below the $27,000 level as a recent sell-off in the cryptocurrency space continues.The price of bitcoin was last down 8.76% to $26,848.20 as of 1:47 a.m. ET Thursday, according to data from Coin Metrics. Ether fell more than 13% to $1,832.33.

Cryptocurrencies fell with stocks after the Bureau of Labor Statistics reported consumer prices for the month of April jumped 8.3%, which was slightly higher than expected by economists polled by Dow Jones.That spooked investors, leading them to exit risk assets including crypto. Cryptocurrencies remain highly correlated with the S&P 500 and, more recently, the Nasdaq Composite.Analysts have called $30,000 a key level for the largest cryptocurrency by market cap, and said it could fall even further if it can’t hold there.

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2022-05-12 14:08:46 Bitcoin | Ethereum | Altcoin pinned a photo Open / Comment

2022-05-12 14:06:09 Bybit's Deposit Blast-Off is Back — Get Up to $3,000 in Bonuses

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2022-05-12 12:23:02 Polygon among $9.3M investment in Paper to help onboard NFT buyers via email

As more individuals join the NFT market, a common complaint exists around the accessibility and user experience for non-crypto natives.But Paper, a crypto-focused payments processing company launched in February, is working to make buying, using and holding NFTs easier for the everyday customer or fan trying to buy a digital collectible.

Just a couple of months after launching, Paper closed a $7.3 million seed round after a $2 million angel investment, for a total of $9.3 million in fresh capital, Sun said.The round was co-led by Electric Capital and Initialized Capital with participation from Polygon, FalconX, Long Journey Ventures, ThirdWeb, Night Capital and the founders of Plaid, Twitch, Fractal, MagicEden, Eventbrite, Tagomi and Bison Trails.

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2022-05-11 12:38:02 Crypto exchange KuCoin raises funds at $10 billion valuation

The four-year-old platform is valued at $10 billion in the new round, up from $100 million following its $20 million Series A in November 2018, KuCoin chief executive Johnny Lyu told TechCrunch.

We have listed many new projects in the world premiere way no matter through the normal listing or KuCoin Spotlight, KuCoin BurningDrop, in which many projects are turned out to be very high-quality and potential after a period of development. The premise of guaranteeing its huge potential and quality is that we have professional, all-around, and strict related processes.We noticed that some users would prefer to use DEX because it can be directly integrated with the wider crypto native ecosystem. Actually, we are exploring and developing decentralized.

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2022-05-10 13:42:02 Tron Burned 125 Million Coins As Net Production Hits Negative $10 Million

The project originated back in 2018, when the cryptocurrency market was something highly different from what we see today. Tron still follows the newly emerged trends and reports daily on the amounts of coins removed from circulation via the burning mechanism.

As the official Tron community account reports, the network has burned over 125 million coins as issuing TRX stays at negative 120 million, valued at approximately $10 million.As USDD Stablecoin by Tron Network was introduced, the blockchain now expects a greater burning rate thanks to the arbitrary swap mechanism in the core of the stablecoin, which mostly mimics Terra's UST maintaining scheme.

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