Celsius Network, Voyager, Vauld, Blockfi, and Three Arrows Capital are some of the companies that were hit the hardest by the ongoing crypto meltdown that has seen the value of Bitcoin fall more than 56 percent from this year’s high. These companies have been forced to seek emergency capital infusions, frozen withdrawals, or filed for bankruptcy. Here’s how the cris…
From Emergency Capital Infusions to Bankruptcy: How the Crypto Meltdown Hit These Companies the Hardest
Bella Hadid Joins Metaverse With BY-B3LLA NFT Collection Based on 3D Scans of Face, Body
Bella Hadid stepped into the metaverse on Monday with the launch of her own collection of non-fungible tokens (NFTs) based on 3D scans of her face and body. The CY-B3LLA collection has Hadid’s “exact facial expressions”, according to the supermodel, who said the inspiration came from 10 countries, with input from local artists.
NFT Trading Volumes Hit New Lows Across Major Marketplaces Including OpenSea
The non-fungible token market is struggling to maintain the parabolic growth it experienced during the bull market of 2021. Data from top NFT trading venues such as OpenSea reveals that trading volumes have fallen off by a huge margin in recent months.
Ethereum’s ‘Merge’ Upgrade Gears Up for Final Testnet Check Starting August 4, Details Here
Ethereum’s much-awaited upgrade called the Merge is ready to transition on its final testnet for tech checks between August 4 and August 12. The name of this final testnet is Goerli, Merge developer Tim Beiko informed in a blog post on Thursday, July 28.
Meta Loses $2.8 Billion on Metaverse Division Despite the Mammoth Re-Branding Step
In Meta’s Q2 earnings call, its chief Mark Zuckerberg announced that the company’s metaverse-focussed ‘Facebook Reality Labs’ division has reported losses of a whopping $2.81 billion (roughly Rs. 22,410 crore). Despite the financial setback, Zuckerberg has exuded confidence that in the coming years, all the trials and errors that are costing the company billio…
US FTC Files Lawsuit to Block Meta From Acquiring Its Way to Metaverse Supremacy
The US Federal Trade Commission on Wednesday filed suit to block Facebook owner Meta from buying the maker of a virtual reality fitness app named Within, claiming that it would weaken competition in the VR fitness app market.
BTC, ETH Add More Gains to Heightened Values, Most Cryptocurrencies Rally
Bitcoin and Ether saw substantial profits on Thursday, July 28, that helped these top two cryptocurrencies to maintain their pumped prices after a long low-spell. Solana, Cardano, and Binance Coin also joined BTC and ETH on the greener-side of the crypto charts. Only a few altcoins like USD Coin and Flex failed to rope-in gains on an otherwise, profitable market openi…
Wharton Becomes First Ivy League School to Launch Programme on the Metaverse
In a first-of-its-kind certification program titled ‘Business in the Metaverse Economy,’ the Wharton School of the University of Pennsylvania will offer business professionals a six-week crash course on topics like VR technologies and blockchain-based worlds.
Crypto Breaks the Rules. That’s the Point
Cryptocurrency treats regulatory arbitrage as a feature, not a bug. The arbitrage conveys the message that the old regulations need to change. In the post-COVID world, software automatically issues crypto tokens, based on smart contracts that specify conditions for issuance. Standard US regulatory practice typically focuses on regulating host firms and intermediaries,…
DeFi and Degrowth: Or How Not to Fix Capitalism
DeFi and Degrowth have emerged as alternative utopian narratives to capitalism. However, both lack some basic lessons. While degrowthers ignore the natural urge for status and advancement, DeFiers ignore the natural urge of bad actors to exploit unregulated systems.