Author: Trishla Tyagi

Following the collapse of cryptocurrency terra (LUNA) and stable coin terrausd, India’s central bank, the Reserve Bank of India (RBI), has issued a warning against investing in the crypto sector (UST). Governor Shaktikanta Das said, “We have been warning against crypto, and look at what has occurred to the crypto sector now.” Governor Shaktikanta Das on the Cryptocurrency Market and Regulation Shaktikanta Das, the Reserve Bank of India (RBI) governor, spoke about the crypto market slump and crypto-asset regulation. We’ve been warning about cryptocurrency, and look at what’s occurred to the market today,” the governor added, emphasizing: People would have…

BNB Chain and Avalanche have been added to Coinbase’s list of supported networks for the Coinbase Wallet, giving traders significantly more access to tokens not listed on the Coinbase market. Coinbase, America’s largest cryptocurrency exchange, has added the BNB Chain (previously Binance Smart Chain) and Avalanche to its list of supported networks for customers to swap and store their cryptocurrencies. https://twitter.com/CoinbaseWallet/status/1528775423391420418?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1528775423391420418%7Ctwgr%5E%7Ctwcon%5Es1 The exchange boasts that the new capability would provide users access to “thousands of tokens,” a “larger variety” than most traditional centralized exchanges can supply. With the addition of BNB Chain (BNB) and Avalanche (AVAX), there are now four…

Bud, a user-generated content gaming platform, has raised $36.8 million in a Series B round headed by Sequoia Capital India. Along with current investors GGV Capital, Qiming Venture Partners, Source Code Capital, ClearVue Partners, NetEase, and Northern Light Venture Capital invested in the round. Bud, a Singapore-based metaverse platform that encourages users to create and share 3D interactive experiences, was founded in 2019 by former Snap programmers Risa Feng and Shawn Lin. Users can create and explore millions of activities ranging from hangout spots to battle royale-style games in addition to designing avatars. The cash will be used to improve…

One of Japan’s largest banks, Sumitomo Mitsui Trust, is apparently planning to enter the bitcoin custody market. The company is teaming up with Bitbank a Tokyo-based cryptocurrency exchange to form a new company dedicated to providing institutional-grade custody for digital assets and NFTs. Sumitomo Mitsui Trust Bank is Planning on Joining the Digital Custody Market A prominent Japanese financial institution, Sumitomo Mitsui Trust Bank, has decided to enter the cryptocurrency custody sector. In collaboration with Bitbank, a Tokyo-based cryptocurrency exchange, the company announced the creation of a digital asset custody company. The firm, which will be known as Japan Digital…

Over 22 billion canine tokens have been removed from circulation in the last week according to a SHIB burn tracker. In addition, about half a billion Shiba have been burned in the previous 24 hours. https://twitter.com/shibburn/status/1528677133320585217 Meanwhile, Shiba Inu has increased by about 10% today. 22.8 billion SHIB was Locked up in Dead-end Wallets Multiple projects within the Shiba Inu fan community have destroyed a total of 22,200,398,699 meme tokens, according to crypto burn tracker @Shibburn. Despite the staggering sum, this amount of SHIB is worth $279,281 in US dollars. It took roughly 500 transactions to transfer this much SHIB…

PayPal’s vice president Richard Nash stated the company is working hard to integrate all feasible blockchain and cryptocurrency interfaces into its platform. According to a senior executive at PayPal, the company is working hard to integrate all conceivable blockchain and cryptocurrency interfaces into its services. PayPal is working hard to support all types of digital services, including digital currencies and digital currencies issued by central banks (CBDC). PayPal continues to extend its digital currency-related product after launching its buy, hold, and sell service for Bitcoin (BTC) across the United States in 2020. Nash observed: “In certain areas, I’m just traveling…

TAG Heuer, a luxury watchmaker, has announced that consumers in the United States will be able to make crypto payments online. https://twitter.com/linqtoinc/status/1527441721369452549 Through a partnership with cryptocurrency payment processor Bitpay, the Swiss company offers a new payment option. TAG Heuer and Bitpay have Teamed up to Offer Bitcoin Payments to US customers TAG Heuer, a premium watchmaker, is now taking cryptocurrency as payment for its high-end products. TAG, the Swiss watchmaker created by Edouard Heuer over a century and a half ago, announced this week that customers in the United States will be able to buy its watches and accessories…

The Goldman Sachs Group, Inc.’s Chairman, CEO, and member of the Board of Directors, David Solomon, spoke on blockchain technology and cryptocurrencies. Solomon said when asked how Goldman sees itself fitting into the crypto landscape: “I continue to be a big believer in the digital disruption of the financial infrastructure, which underpins everything we and others who interact with the financial system do on a daily basis — the way money moves around the world, the way we keep track of things, the way we can automate and improve efficiency.” Big believer that blockchain and other technologies, some of which…

Following the stunning collapse of the UST stable coin and its sibling token LUNA last week, a proposal has been made to shut down Defi protocol Mars. It comes as the Terra ecosystem’s total value locked (TVL) plummeted 99 percent to $2.6 million from $270 million, causing ripples throughout the crypto market. The proposal by Delphi Labs, a cryptocurrency research business that helped develop Mars, states that the platform will “automatically cancel open positions” and “refund consumers by returning payments to their wallet addresses.” “This will essentially shut down the protocol and clear all assets it now possesses,” according to…

Mike Novogratz, CEO of Galaxy Digital is warning crypto traders that altcoins might yet face significant downturns. https://twitter.com/novogratz/status/1527614092156051458 Alts are down more than 80% from their highs. It reached over 95 percent in 2017. That’s a 70 percent decrease. My idea is that picking bottoms is risky, and if you do, start small. The billionaire also has a pessimistic prognosis for the entire financial industry, implying that cryptocurrency values are going to fall. “One problem with risk modeling is that all of the episodes of stress in the past three decades that led to bottoms occurred in an easing Fed…

Since digital currencies are primarily used for domestic purposes, SWIFT will seek to link different CBDC systems to make cross-border transactions easier. SWIFT, a global supplier of secure financial messaging services, is experimenting with interconnecting numerous new CBDC networks for cross-border transactions. The Belgian network, which allows financial institutions to interact with one another for global payments, has enlisted the help of Capgemini, a French information technology services and consulting firm. SWIFT indicated in an official blog post that the cross-border use of CBDCs may have been a blind spot for this sort of digital currency because it was intended…

The Singapore High Court has issued an order prohibiting the sale of a non-fungible token (NFT) belonging to the Bored Ape Yacht Club (BAYC), which one man believes was unfairly taken away from him. A Singapore citizen has gained a court injunction that prevents the sale or prospective transfer of a non-fungible token (NFT) belonging to the Bored Ape Yacht Club (BAYC). According to reports, the NFT is currently in the hands of Chefpierre, an online lender. The individual, identified as Janesh Rajkumar by the Strait Times (ST), is attempting to reclaim the BAYC 2162 NFT that he provided as…

Manchester City has partnered up with NFT marketplace Quidd to release a collection of four digital collectibles. Pep Guardiola is the manager of the famed club, which plays in the Etihad Stadium, which seats 55,000 people. NFT and football enthusiasts will find not only 3D player cards but also one-of-a-kind card sets commemorating key events in the club’s history. The Quidd season will be capped off with an exceedingly rare set of Signature cards. https://twitter.com/quidd/status/1527754588375240705 Quidd is a division of the Animoca Corporation. It’s one of the top NFT marketplaces on the Wax Blockchain, and it’s already partnered with big…

Tim Draper an early Bitcoin investor has stated that despite the recent price decline, he remains positive about the value of the original cryptocurrency. Draper believes the asset is still useful as an inflation hedge, and that the current market is “quite similar” to the dot-com bubble implosion, but with higher inflation. Tim Draper is still Optimistic about Bitcoin Tim Draper, the venture capitalist known for his early bitcoin investments, has clarified his position on bitcoin’s value in the present market condition. In an interview with CNBC, Draper highlighted that bitcoin’s importance in the crypto and traditional markets’ fall stems…

Vitalik Buterin co-founder and CEO of Ethereum, recently stated that he is no longer a crypto billionaire. In response to a tweet about other billionaires, Elon Musk and Jeff Bezos, who are at the top of the list of the world’s wealthiest people, he admitted as much. https://twitter.com/VitalikButerin/status/1527657553441673217?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1527657553441673217%7Ctwgr%5E%7Ctwcon%5Es1_&r Ethereum was founded in 2014 by Vitalik and several other developers, including Charles Hoskinson (creator of Cardano) and Joseph Lubin. Vitalik has a digital wallet with an estimated value of $1.5 billion in ETH as of November. However, the value of the second largest cryptocurrency has dropped by roughly 55% since then,…

A16z has announced the formation of a new fund with a target investment of $600 million in gaming experiences such as Web3 and metaverse. The fund, which intends to shape the gaming industry’s future, will invest in a variety of businesses and projects in sectors such as gaming studios, the confluence of gaming and consumers, and infrastructure. This investment complements the VC’s previous investments in gaming and metaverse-related firms. A16z Goes All-In on Gaming The industry’s current convergence of metaverse, Web3 and gaming appears to be enticing a16z executives. The company has announced the formation of Games Fund One, a…

The death of the Shiba inu (SHIB) cryptocurrency has been prophesied by a panel of experts at Finder. The majority of people believe that the meme cryptocurrency’s price would eventually plummet to zero. “Our panel is heavily out on SHIB, with 73 percent indicating now is the time to sell,” says the report. Projection of SHIB’s Price Finder.com, a leading price comparison website, updated its price projection for the Shiba Inu cryptocurrency. “In April, Finder polled a panel of 36 fintech experts for their predictions on how the Shiba Inu will fare over the next decade,” according to the business.…

This collaboration aims to broaden the appeal of digital audio artifacts. LimeWire was offered licenses by Universal Music Group, allowing it to collaborate with its artists. LimeWire, a digital collectibles marketplace, has signed a strategic agreement with Universal Music Group (UMG). LimeWire announced the agreement in a press release yesterday, stressing that non-fungible tokens are involved (NFTs). Both firms will work to make digital audio collections more accessible as part of this collaboration. According to the news release, UMG artists and record labels will be able to use LimeWire’s Algorand-based NFT marketplace. Through digital collectibles and the web3 ecosystem, the…

Jamiroquai an acid jazz-funk band, has announced a collaboration with The Sandbox, a blockchain-based virtual world platform to “go funky in the metaverse.” Jamiroquai intends to introduce virtual insanity to the band’s virtual land in The Sandbox metaverse. Sandbox Virtual World welcomes Jazz-Funk band Jamiroquai Another well-known band has joined the virtual environment The Sandbox, as Animoca Brands’ subsidiary announced on Wednesday that Jamiroquai has become a project partner. Jay Kay is the frontman of Jamiroquai, an award-winning band that plays funk, acid jazz, soul, disco, and R&B. https://twitter.com/TheSandboxGame/status/1526850312690188290 Virtual Insanity was selected MTV’s Video of the Year in 1997,…

Panama’s president has refused to sign new crypto laws into law, citing the necessity for tougher anti-money laundering (AML) compliance procedures. The bill, which focused on issuing licenses to crypto exchanges and regulating transactions, was enacted by the country’s legislative assembly. The bill according to President Laurentino Cortizo, demands stricter anti-money laundering safeguards for cryptocurrency. He is not anti-crypto but insists that the market follows worldwide anti-money laundering regulations. “I will not sign that law if I am going to answer you right now with the knowledge I have, which is insufficient.” If the law contains provisions relating to money…