Crypto California Club

2023-05-27 15:01:19 $176M of Do Kwon's assets are frozen

The frozen assets include an apartment complex, an officetel, several imported cars and various financial assets.

On May 10, local news outlet Hankyung reported that Do Kwon, co-founder and former CEO of Terraform Labs, had over 233.3 billion Korean won ($176 million) in personal assets frozen as part of ongoing criminal proceedings.

Chief Judge Yun Chan-Young of the 12th Criminal Division of the Seoul Southern District Court has prohibited the sales of Do Kwon's Galleria Foret apartment complex in Seoul, a novel officetel and a series of imported cars.

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2023-05-26 18:01:53 US lawmakers hold EU and UK as examples of crypto regulation in joint hearing

With the European Union coming closer to passing the Markets in Crypto Assets framework and Kraken in the process of investing in the United Kingdom, lawmakers are taking notice.

Some members of the United States House of Representatives’ Financial Services and Agriculture Committees pointed to crypto asset frameworks being employed outside the country when discussing regulatory gaps at home.

In a May 10 joint hearing on the future of digital asset regulation, some lawmakers pointed to the European Union’s Markets in Crypto Assets framework and digital asset regulation in the United Kingdom in contrast with the patchwork of requirements in the United States.

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2023-05-25 14:26:02 Red Bull Doodle Art and Burnt Toast collaborate to help student artists mint NFTs

Red Bull Doodle Art is a global competition that challenges students to create original doodles that showcase their creativity and artistic abilities.

Crossmint is a leading NFT infrastructure provider.

Burnt Toast is the Co-Founder of the Doodles.

Crossmint, Red Bull Doodle Art, and Burnt Toast have joined forces to help student artists with an opportunity to create and mint their own NFTs.

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2023-05-24 13:31:41 Bitcoin Frogs outpaces Bored Apes to become hottest NFT collection during past 24 hours

Bitcoin Frogs surpassed Bored Apes as the most traded non-fungible token collection during the last 24 hours, in what is a milestone for the upstart Ordinals market. The collection has generated more than $2 million in trading from nearly 700 transactions.

Comparatively, the Bored Ape Yacht Club, the most-valuable NFT collection in the world by market share, has ranked third during the last day with about $1.3 million in volume, the CryptoSlam! data also shows.

So far this month Bitcoin Frogs NFTs have registered $5.9 million in trading, according to CryptoSlam! data. The collection generated about $52,000 in trading in April.

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2023-05-22 12:55:57 Cardano-Powered DeFi Platform Empowa Takes on Africa’s Housing Crisis

In the face of exorbitant mortgage rates crippling the housing market in Africa, Coinbase, a leading cryptocurrency exchange, has spotlighted the potential of blockchain technology to radically transform the situation.

The exchange has specifically highlighted the innovative efforts of Empowa, a decentralized finance (DeFi) platform powered by Cardano (ADA), that aims to tackle the housing affordability crisis in Africa.

Empowa has set an ambitious mission: to enable 1 million African families to become owners of climate-smart homes by 2030. The company is determined to disrupt the current real estate market, which is ridden with high mortgage rates.

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2023-05-21 12:02:39 Rosario Dawson to Star in NFT-Backed Anime Series from Gala

Actors Rosario Dawson and Tony Revolori are both set to star in Ghosts of Ruin, a Western anime series from Gala Film, the entertainment arm of Web3 startup Gala Games.

Ghosts of Ruin follows a group of gamers as they navigate a potentially deadly tournament in a near-future dystopian version of San Francisco in which games are synced directly into players’ minds and indistinguishable from real life.

The series, produced and developed by new media content studio Battle Island, will feature original music from composer Hans Zimmer’s Bleeding Fingers collective.

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2023-05-20 17:43:54 ‘Trusted’ marketplace sold fake Trezor wallets stealing crypto: Kaspersky

Amid the rising popularity of hardware cryptocurrency wallets, the Russian cybersecurity firm Kaspersky has reminded users about the importance of using authentic crypto devices.

Kaspersky cyber incident expert Stanislav Golovanov on May 10 reported on an issue with fake hardware wallets impersonating major wallet firm Trezor. The incident occured in March 2022.

According to the blog post, the fake Trezor wallet allowed fraudsters to steal Bitcoin via a replaced microcontroller, which enabled attackers to take over control of the user’s private keys.

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2023-05-19 12:54:04 Yearn Finance New Staked Token yETH Might Not Be Launched Yet

According to a survey on the Yearn Finance governance forum, participants are divided on introducing the yETH toen. The poll is non-binding and is intended to gauge community support in going forward with a binding vote through snapshot.

According to Yearn, there are an increasing number of LSDs, each with a unique yield, risk, and decentralization profile, as well as varying degrees of market liquidity. Inefficiencies in market pricing might lead to trading opportunities against the protocol’s underlying supported ETH value.

Staked ETH in a typical liquidity pool is not appropriate for collateral since the pool is only as secure as its least safe Member. However, new LSDs may struggle to establish traction and draw sufficient use and liquidity to compete with existing protocols with huge market shares.

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2023-05-18 17:42:20 The Fed cites worries about stablecoin in its latest Financial Stability Report.

The report points out stablecoin’s possible low stress resistance and overuse in leveraged cyptocurrency trading, reiterates its position on CBDC.

The United States Federal Reserve Board released its semiannual Financial Stability Report on Monday.

The report points to the volatility on commodities markets brought on by the Russian invasion of Ukraine, the spread of the omicron variant of COVID-19 and “higher and more persistent than expected” inflation as sources of instability.

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2023-05-16 10:44:25 China Ramped Up Gold Production During Q1 Amidst Steady Demand From Central Banks

Gold companies operating in China ramped up their production levels during the first quarter of 2023.

According to industry reports, the Chinese gold industry managed to recover its extraction levels, reaching numbers it saw before the Covid pandemic, with the country engaging in a record streak of purchasing gold during the last five months.

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