The executive stated that the layoffs were due to concerns about “macroeconomic and geopolitical” issues that may affect the venture capital markets.
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Access real-time blockchain and cryptocurrency news updates from around the globe.
US financial regulators warn against crypto exposure in retirement accounts
The financial watchdogs targeted self-directed individual retirement accounts with potential exposure to crypto in a warning to investors.
Laotian CBDC proof of concept project to launch using system pioneered in Cambodia
The Laotian central bank and the Soramitsu firm signed an MOU to launch the project to expand financial inclusivity and provide sellers with faster settlement.
US Attorney requests SEC and CFTC civil cases against SBF wait until after criminal trial
Lawyers for Sam Bankman-Fried said he consented to staying the SEC and CFTC civil cases, while those for Caroline Ellison and Gary Wang did not objec to staying the CFTC case.
ConsenSys releases statement of support for continuation of the Jarrett tax case
The court dismissed the Jarretts’ case over the taxation of staking rewards after the IRS issued the refund the couple sought; not good enough, they said.
Binance to support users in Turkey’s earthquake region with $100 airdrops in BNB tokens
According to Binance CEO ‘CZ’, Binance is working on more efforts to help
Avalanche (AVAX) price is up, but do fundamentals support the rally?
Avalanche (AVAX) witnessed a meteoric start to 2023, gaining 98% in 30 days, and traders are now curious about whether the rally will extend throughout February. AVAX’s year-to-date gains for 2023 have outpaced those of Bitcoin (BTC) and Ether (ETH).
Recent reasons for AVAX’s rally can be attributed to an Amazon partnership announcement on Jan. 11. The partnership is meant to easily deploy nodes on the Avalanche blockchain with Amazon Web Services (AWS). Ava Labs, which supports the Avalanche ecosystem, hopes the partnership increases blockchain usage for enterprises and governments.
While AVAX price has benefited from the news, some analysts predict that the move could have been a bull trap.
Let’s dig into the fundamentals to see if on-chain network activity supports the recent AVAX rally.
AVAX fees from DeFi are up
After the AWS news, AVAX price was not the only metric seeing a quick rise. On Jan. 14, Avalanche network hit a year-to-date high of $31,218 AVAX fees received. The increase in fees compared to the previous 30 days is 59%, signaling that positive price appreciation helped boost the fees that the network received.
Avalanche (AVAX) price is up, but do fundamentals support the rally?
AVAX price has been in a strong rally since the start of 2023, but a sustained uptick in its DeFi components is needed in order to sustain the current bullish momentum.
What are phygital NFTs, and how do they work?
Discover the unique world of phygital NFTs and how they combine the physical and digital realms to create a new level of ownership and authenticity.
What are phygital NFTs, and how do they work?
Discover the unique world of phygital NFTs and how they combine the physical and digital realms to create a new level of ownership and authenticity.
Judge denies motion allowing SBF to use messaging apps
The judge did not provide a reason for denying the motion “without prejudice” but added the matter would face oral argument in a Feb. 9 hearing.
Scammers are targeting crypto users with new ‘zero value TransferFrom’ trick
The trick allows the attacker to confirm zero-value transactions from the victim’s wallet, hijacking the user’s transaction history.
Crypto exchanges tackle insider trading after recent convictions
The first-ever case of crypto insider trading highlights the need for reforms from exchanges to keep track of their employee’s trade activities.
Lido plans to level up ahead of Ethereum Shanghai hard fork upgrade
Liquid staking protocol Lido unveils upgrade plans for V2, set to unlock stETH withdrawals and introduce Staking Router architecture.
The history and evolution of the fintech industry
The fintech industry has evolved from early adopters using technology to automate financial services to a comprehensive revolution of the financial sector.
Lido plans to level up ahead of Ethereum Shanghai hard fork upgrade
Liquid staking protocol Lido unveils upgrade plans for V2, set to unlock stETH withdrawals and introduce Staking Router architecture.
Long-standing crypto project vs. scam: Ava Labs CEO shares key difference
Emin Gün Sirer, creator of the Avalanche Consensus protocol and Ava Labs CEO, believes that there is one very straightforward method to spot a long-standing cryptocurrency project.
On Feb. 7 Sirer discussed blockchain venture capital and crypto regulation in a fireside chat with MarketAcross chief operations officer Itai Elizur at the Web3 builder-focused event, Building Blocks 23.
During the discussion, the Avalanche founder pointed out the crucial role of “staying power” in the crypto industry, condemning players that run from one project to another or jump into “every single new coin offering” in the hopes that they will go up. According to Sirer, the desire to reap quick profits from crypto will only turn the space into a terrible thing, and VCs are not to blame.
“I will tell you who’s to blame; it’s us,” Sirer declared, urging the community to support solid crypto initiatives and avoid scammy projects with a short life span. He then shared his “very simple test” of how to spot long-standing projects in crypto and stay away from those who make grand promises and then disappear.
Ava Labs founder and CEO Emin Gün Sirer (right) with MarketAcross COO Itai Elizur (left). Source: Cointelegraph“So look at the team behind any project, look at their staying power,” Ava Labs CEO said, adding that the regulating jurisdiction of a cryptocurrency firm provides one of the most important hints about its long-term capabilities. He stated:
Dubai releases crypto regulations for virtual asset services providers
The laws apply to market participants within the emirate of Dubai, with the exception of those under the Dubai International Financial Centre.
Bitcoin takes 'lion's share' as institutional inflows hit 7-month high
$117 million heads into crypto investment products in a single week, and the vast majority went straight into Bitcoin.
Bitcoin takes 'lion's share' as institutional inflows hit 7-month high
$117 million heads into crypto investment products in a single week, and the vast majority went straight into Bitcoin.