In April, the United Kingdom’s Economic and Finance Ministry, also known as Her Majesty’s Treasury, announced its intention to put the United Kingdom at the forefront of technology by bringing stablecoins under the country’s payments regulation — a bold move that looks especially intriguing in contrast to the recent shock, caused by TerraUSD’s (UST) depegging. Later, in May, during the annual Queen’s Speech, Prince Charles informed the Parliament about two bills that will support “the safe adoption of cryptocurrencies” and “create powers to more quickly and easily seize and recover crypto assets.” Taken together, these initiatives give an impression of …

ADDX, a blockchain and smart contract-based digital securities platform from Singapore raised $58 million from mainstream financial institutions to fund its goal of reducing minimum private investment sizes via tokenization and fractionalization. The Monetary Authority of Singapore regulates ADDX as a digital securities exchange that aims to democratize private markets. The Pre-Series B funding round saw participation from the Stock Exchange of Thailand (SET), UOB, Nasdaq-listed Hamilton Lane and Thailand’s Krungsri Bank, which has brought total funds raised by ADDX to around $120 million. As explained in the announcement, ADDX uses blockchain technology and smart contracts to tokenize and fractionalize …

American electronics retail firm GameStop has taken a step into the world of cryptocurrencies, unveiling a proprietary blockchain wallet that will feature nonfungible token functionality. The GameStop Wallet will allow gamers to acquire, send and store Ether (ETH), ERC-20 tokens and NFTs through a self-custodial browser extension running on the Ethereum blockchain. A mobile application is also in the works. It’s official! The GameStop Wallet is here. Download: https://t.co/dK2dmRmwRI — GameStopNFT (@GameStopNFT) May 23, 2022 The wallet will run on Ethereum’s Loopring layer-2 scaling protocol designed for decentralized exchanges, which boasts of high throughput, low-cost trading and payment capability. Users …

Self-sovereignty is a core principle in the cryptocurrency space: Investors need to rely on a trustless, decentralized network instead of a central entity that has been known to devalue the holdings of others. One shortcoming associated with self-sovereignty, however, is inheritance. An estimated 4 million Bitcoin (BTC) has been lost over time and now sits in inaccessible wallets. How many of those coins belong to HODLers who passed away without sharing access to their wallets with anyone else is unknown? Some believe Satoshi Nakamoto’s estimated 1 million BTC fortune hasn’t been touched for this very reason: No one else had …

The recent Terra revival plan announced by Do Kwon, the co-founder and CEO of Terraform Labs, received mixed reactions as many questioned the effectiveness of a hard fork in reviving the fallen prices of Terra (LUNA) and TerraUSD (UST) tokens. Instead, the part of the community recommended burning LUNA as the most plausible way to achieve a comeback. Kwon’s proposal to preserve the Terra ecosystem involves hard forking the existing Terra blockchain without the algorithmic stablecoin and redistributing a new version of the LUNA tokens to investors based on a historical snapshot before the death spiral. However, several crypto entrepreneurs, …

Digital artist and popular nonfungible token (NFT) creator Mike Winkelmann, more commonly known as Beeple, had his Twitter account hacked on Sunday as part of a phishing scam. Harry Denley, security analyst of MetaMask, alerted users that Beeple’s tweets at the time containing a link to a raffle of a Louis Vuitton NFT collaboration were, in fact, a phishing scam that would drain the crypto out of users’ wallets if clicked. ⚠️ Beeple's Twitter account has been compromised (ATO) to post a phishing website to steal funds. 0x7b69c4f2ACF77300025E49DbDbB65B068b2Fda7D 0xF305F6073CFa24f05FF15CA5b387DD91f871b983 pic.twitter.com/0MPNwOPlEu — harry.eth (whg.eth) (@sniko_) May 22, 2022 The scammers were …

Depending who you ask, NFTs are either a new and exciting way to invest, or a bearish, overhyped sector. Regardless, journalists, investors and collectors have paid significant attention to the growing NFT market in the past year. NFTs continue to be one of the most popular Web3 entry points, an opportunity for everyone from casual art fans to crypto billionaires to own a unique asset stored on the blockchain. As NFT visionaries have recently pointed out, NFTs also have the potential to be used for incredible causes beyond digital asset collection. In the past six months, communities have launched NFTs …

What is a DAO? A DAO, or decentralized autonomous organization, is an online-based organization that exists and operates with no single leader or governing body. DAOs are run by code written on a blockchain like Ethereum (ETH) and are owned and operated by the people who use them. There are many different types of DAOs, but they all have one thing in common: they are decentralized, meaning that decisions about the organization's future are decided by the collective group and not a single individual. This decentralization is what makes DAOs promising, as it theoretically removes the possibility of corruption or …

Bitcoin (BTC) has been attributed as the most prominent blockchain use case, showing the technology’s prowess in successfully delivering an immutable and truly decentralized ledger over the past 13 years. Adding to the years of innovations since then— that saw the introduction of altcoins, nonfungible tokens (NFT), decentralized finance (DeFi) and more, a study conducted by fintech giant Deloitte highlighted the untapped potential of the crypto ecosystem to open up newer markets for the sports industry. Fan tokens and NFTs were first introduced to the sports industry to increase fan engagement via collectibles and voting mechanisms. However, Deloitte, one of …

Sorare is where fantasy soccer and cryptocurrency meet. For soccer fans, this is a way to be competitive off the field and invest heavily right away. Users can play the game online in their browser or download the Sorare app. In this article, you will read all about what exactly Sorare is and how it works. What is Sorare? Sorare is a blockchain-based fantasy soccer game adored by many soccer fans worldwide. The founders of the platform want to give fans the opportunity to develop and play the game, even when they can’t play it on the field. Users can …

In his monthly crypto tech column, Israeli serial entrepreneur Ariel Shapira covers emerging technologies within the crypto, decentralized finance (DeFi) and blockchain space, as well as their roles in shaping the economy of the 21st century. Die-hard sports fans first got a taste of how digital assets could become the next sports memorabilia phenomenon back in June 2020, with the launch of Dapper Labs’ NBA Top Shot Moments nonfungible token (NFT) collection. Since then, the pro sports industry has actively capitalized on the NFT craze. That’s not at all a bad thing, considering NFTs solve the digital ownership question once …

Currently, trialogue for the Markets in Crypto Assets (MiCA) and Transfer of Funds (TFR) regulations is underway in the European Commission, the European Parliament and the Council of Ministers, which will be concluded in a few weeks. If adopted, the TFR would, according to experts, impose a vast financial surveillance regime on the European decentralized finance (DeFi), nonfungible token (NFT) and metaverse spaces. This could then lead to companies in those sectors moving elsewhere to avoid regulation. The German DeFi community has not remained silent and has written an open letter to EU decision-makers, which supporters can sign. One of …