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2024-01-19 14:52:41 ANNOUNCEMENT

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2024-01-17 18:51:37 ​Telegram set to build crypto exchange in response to FTX collapse

Telegram founder Pavel Durov has announced plans by the messaging platform to unveil decentralized cryptocurrency products, including a crypto exchange and non-custodial wallets.

According to Durov, the new venture seeks to rectify the existing centralization of cryptocurrency entities, a factor he noted has let down millions of users with reference to the FTX exchange collapse, the CEO said in his official Telegram channel on November 30.

“Telegram’s next step is to build a set of decentralized tools, including non-custodial wallets and decentralized exchanges for millions of people to securely trade and store cryptocurrencies. This way we can fix the wrongs caused by the excessive centralization, which let down hundreds of thousands of cryptocurrency users,” he said.

Durov further pointed out that the current blockchain ecosystem has deviated from its founding principle of promoting decentralization. Open / Comment

2024-01-15 16:22:44 ​​Vietnam Businesses Urge for Blockchain Training of Students and IT Specialists

Members of the expanding blockchain sector of Vietnam have called on government and educational institutions to turn more attention to the deficit of talent. With the shortage of qualified personnel being a global challenge, they say the country needs to address the lack of training.

Vietnam is not the only nation in search of blockchain developers with the deficit seen as a common problem for countries like the United States, China and India, too. When it comes to the new technology, Vietnam is for the first time in the same situation as these tech hubs and it’s just as understaffed, business executives told local media.

The scarcity of expertise is inevitable in both Vietnam and internationally, said Pham Van Huy, CEO of Moonlab, a company working on blockchain and metaverse projects. Quoted by the English-language daily Vietnam News, he elaborated:

It is extremely difficult to recruit human resources specializing in this field as blockchain is still quite new and there are no training programs at universities, colleges, or even information technology centers in the country.

Huy also remarked that if Vietnam wants to become a hub for blockchain talent, in terms of quantity and quality, it’s necessary to focus on training on all levels and start a dialogue about the technology between government officials, business owners and managers, as well as employees and students.

Huy also insisted that the country should try to bring back Vietnamese experts who were trained or are working abroad with job opportunities and attractive remuneration. The executive emphasized on the importance of international cooperation programs as well.

The CEO of Moonlab believes that successful blockchain businesses need to organize courses for undergraduate IT students and internships to enhance their skills and knowledge about blockchain while offering attractive salaries for those who join their companies.

“Vietnam should soon establish training centers and courses in universities and colleges for this tech industry,” said Phan Duc Trung, vice chairman of the Vietnam Blockchain Association. He added that the organization is currently working to prepare qualified experts that can contribute to blockchain research, testing and deployment.

“It is the first time that Vietnam is in the same starting position with the whole world with a new technology,” commented Huy Nguyen, co-founder of Kardiachain. He is convinced that if the country can tackle the problem at the root it will be able to meet the needs of the market in the next five to 10 years and help wide implementation. Open / Comment

2024-01-14 16:04:16 Synthetix nets $20M from Web3 quant trading firm.

Derivatives liquidity protocol Synthetix seals new partnership with DWF Labs, landing a $20 million investment from the quantitative trading firm.

Tokenized asset issuance platform Synthetix has secured a $20 million investment through a new partnership with Web3 investment and quantitative trading firm DWF Labs.

The market making and algorithmic trading company acquired $15 million worth of Synthetix’ native token SNX paid for with USD Coin (USDC) in March 2023. DWF Labs will be tasked with increasing SNX token liquidity and market making across centralized and decentralized exchanges.

Synthetix’ perpetual futures will be integrated into DWF Labs’ trading business as part of the deal. DWF Labs has also committed to purchase another $5 million worth of SNX tokens once the integration of Synthetix’ services has been completed.

Synthetix allows users to tokenize a variety of real-world assets into derivatives called Synths, which provide exposure to a range of different assets. Holding SNX tokens allows users to create Synths by locking tokens into a smart contract and minting Synths against the corresponding value.

Users can trade Synths using Synthetix’ pooled collateral model, with trades between Synths generating fees for SNX collateral providers.

The creation of on-chain synthetic assets tracks the value of real-world assets, which includes synthetic fiat currencies or commodities like Gold and financial instruments like equity indices.

DWF Labs managing partner Andrei Grachev highlighted the partnership’s provision of streamlined trading mechanisms in the Decentralized Finance (DeFi) space:

"By leveraging Synthetix's deep liquidity and composability, platforms can now deliver better trades with lower slippage, allowing for innovative hedging strategies and unique use cases.”

Synthetix’ V2 platform surpassed $400 million in perpetual swap daily trade volume in March 2023 according to data from Dune Analytics. Open / Comment

2024-01-13 18:25:21 ​Canon to Launch Ethereum Photo NFT Marketplace Cadabra

Canon USA, the American division of the global camera and imaging giant, announced today that it will launch an Ethereum NFT marketplace dedicated to photography later this year, dipping further into the Web3 world after an NFT drop in 2022.

Cadabra, described as a curated marketplace for tokenized photographs, is set to roll out later in 2023 following an initial preview at this week’s NFT NYC conference. According to a press release, the marketplace will offer photos across various categories, including wildlife, sports, lifestyle, and landscapes, among others.

Canon has yet to reveal which photographers will participate in the platform, but Cadabra will feature both initial drops of photo collections as well as a secondary marketplace for reselling the NFTs. Open / Comment

2024-01-12 16:10:58 ​Swedbank Strategist Says US Banking Crisis Is Spreading — Warns of More Banks Failing in ‘Vicious Spiral’

A strategist at Swedbank, a Swedish bank, has warned that the regional banking crisis in the U.S. is spreading. After several bank failures, he stressed that Pacwest Bank, Western Alliance Bank, and First Horizon Bank have all been “subject to financial meltdowns.”

Pär Magnusson, a fixed income strategist at Swedbank, a Swedish bank based in Stockholm, has warned about the spreading of the U.S. banking crisis. He reportedly said:

After Silicon Valley Bank, Signature Bank, First Republic Bank and now potentially Pacwest Bank, Western Alliance Bank, and First Horizon Bank all having been subject to financial meltdowns, the proverbial cat will be very difficult to put back into the bag.

First Republic Bank was seized by regulators last week and most of its assets were sold to JPMorgan Chase. It was the biggest U.S. bank failure since 2008. Silicon Valley Bank and Signature Bank collapsed in March. Following the seizure of First Republic Bank, shares of several banks, including Pacwest and Western Alliance Bank, plummeted. Open / Comment

2024-01-10 16:15:27 Missed BNB at $35? Back in 2020, $100 became $15,000!

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2024-01-06 20:45:33 ​Ubisoft Continues Web3 Push With Rabbids NFTs in The Sandbox

Ubisoft was the first major video game publisher to release in-game NFT items with Ghost Recon Breakpoint in December 2021—and while the reception was decidedly mixed, the firm has continued to make moves in the Web3 world. Its latest? Today’s launch of Rabbids NFT avatars for Ethereum metaverse game The Sandbox.

The NFT release comes one year after Ubisoft initially announced plans to bring its popular Rabbids characters—which spun out of the classic Rayman game franchise—to The Sandbox. Ubisoft began the sale today for users who had already been added to an allowlist, while the public sale will commence on Wednesday.

Ubisoft is releasing 2,066 of the Rabbids avatars via Polygon, an Ethereum scaling network, with each NFT selling for 100 SAND—about $78 worth, as of this writing. The drop is themed after the Lunar New Year, given that 2023 is the year of the rabbit, and the Rabbids will feature various designs that will be unveiled to buyers this Friday. Open / Comment

2024-01-04 15:05:01 BTC above $44k – time for a big short?

Many public traders have become emotional, so I want you to see a different perspective. 50 Satoshi identified several strong signals indicating a soon correction.

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2023-12-30 18:03:02 ​AAX reiterates withdrawal halt is unrelated to FTX contagion.

In a previous post on Twitter, the AAX exchange said it has no financial exposure to FTX and its affiliates.

Hong Kong-based crypto exchange AAX has reiterated that its suspension of withdrawals on the platform has nothing to do with the ongoing fallout from FTX’s collapse and rumors to the contrary are false.

The crypto community reported seeing a “System upgrade notification” message on Nov. 13, which said that a system upgrade “is taking longer than usual,” which will delay withdrawals. Some shared concerns about whether the exchange was the next domino to fall after FTX and BlockFi. Open / Comment