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According to reports, Pantera Capital's founder and CEO, Dan Morehead, said the hedge fund intended to raise $1.25 billion for a second blockchain fund. Morehead further stated that Pantera intended to close the blockchain fund by May, according to a Bloomberg report. According to reports, the fund will invest in equity and digital tokens in an effort to draw in institutional investors.
In order to give Web3 apps secure access to real-world data, Chainlink, which uses Oracle networks, has announced that its long-awaited staking rewards will launch in December along with two new initiatives aimed at improving the financial viability of its services. Avalanche, Metis, Moonbeam, and Moonriver are the first four cryptocurrency projects that will take part in Chainlink's new SCALE program.
Cynthia Lummis, a senator from Wyoming, has suggested that Bitcoin (BTC) has the potential to address issues in the financial sector today, such as inflation. In an interview with investigative journalist Natalie Brunell, Senator Lummis claimed that Bitcoin "can't be stopped" and that it provides users with an alternative to the devaluation of the dollar as a result of the growing national debt and inflation.
In spite of the ongoing massive development, Cardano (ADA) founder Charles Hoskinson continues to advocate for various ideas aimed at enhancing the decentralized finance (DeFi) blockchain. Hoskinson has echoed Cardano's goal of having a certified ADA wallet in this line. Hoskinson stated that Cardano hopes to do away with the original wallet concept in favor of having a blueprint with standards to direct developers in releasing certified wallets.
Following a number of lucrative high-priced NFT sales, Christie's has unveiled its own specialized NFT on-chain auction platform, enabling auctions to be conducted entirely on-chain on the Ethereum network. Following a number of lucrative high-priced NFT sales, Christie's has unveiled its own specialized NFT on-chain auction platform, enabling auctions to be conducted entirely on-chain on the Ethereum network.
Omar Bin Sultan Al Olama, state minister for artificial intelligence (AI), the digital economy, and remote work applications in the United Arab Emirates (UAE), is upbeat about the future of cryptocurrencies. Omar Bin Sultan Al Olama, state minister for artificial intelligence (AI), the digital economy, and remote work applications in the United Arab Emirates (UAE), is upbeat about the future of cryptocurrencies.
In light of rising inflation and Argentina's deteriorating economy, Guido Cannetti, an Argentine Ultimate Fighting Championship (UFC) fighter, is now the first martial arts competitor in the nation to receive 100% of his salary in stablecoins. Guido will be paid in USD Coin (USDC), a stablecoin, via the Stellar Network on Vibrant, a wallet program created by the Stellar team especially for people living in inflation-stricken Argentina.
After a protracted wait, the cryptocurrency trading app Revolut has received approval from the UK's Financial Conduct Authority to provide related services in the country. After a protracted wait, the cryptocurrency trading app Revolut has received approval from the UK's Financial Conduct Authority to provide related services in the country.
A series B funding round led by the bitcoin-focused investment firm Ten31 garnered $80 million for Strike, a prominent Bitcoin Lightning Network payment service. The University of Wyoming and Washington University in St. Louis also made contributions to the fund, which will be used to advance Strike's project to transform payments for retailers, marketplaces, and many other financial institutions.
The self-custody, Web3 wallet Robinhood Wallet was launched by the cryptocurrency and stock trading website Robinhood, with Polygon (MATIC) as its first supporting blockchain. On iOS, Robinhood released the Web3 wallet's beta version. The first 10,000 people who joined the waitlist in May 2022 will have access to it. The Robinhood Wallet, which is originally hosted over the Polygon blockchain, enables users to trade and shift cryptocurrencies without paying network fees.
Bitcoin's Open Interest has surged by $1.8 billion as its price broke the $27,000 mark, indicating a strong influx of investor interest. Open Interest tracks the total value of Bitcoin futures contracts open on derivative exchanges, with rising figures signifying increased market activity and potential volatility. The recent jump from $11.04 billion to $12.81 billion suggests heightened trading and leveraged positions. The future direction of Bitcoin's price remains uncertain, with the surge potentially fueled by shorts covering positions or longs hoping for further gains. The funding rate suggests a balanced mix of long and short positions.
Morgan Creek Capital founder Mark Yusko predicts a bright future for Bitcoin (BTC) as institutional capital worth hundreds of billions is expected to enter the market. Yusko points to Bitcoin's historical trend of adding a zero to its price following each halving event, with the next one slated for April 2024. He anticipates a 1.5x increase from the current all-time high, potentially reaching $100,000. Additionally, Yusko believes Bitcoin exchange-traded funds (ETFs) will be approved by late 2023 or early 2024, leading to a substantial influx of capital into the cryptocurrency.
Citigroup has unveiled Citi Token Services, a permissioned blockchain platform designed for institutional clients, offering access to tokenized deposits, cross-border payments, and automated trade finance around the clock. This move aligns with Citigroup's goal of creating a 24-7, on-chain, programmable financial system. The partnership with Maersk enables instant payments through smart contracts, benefiting companies with numerous vendors. Citi Token Services also aids corporate treasurers in managing global liquidity more efficiently. Meanwhile, JPMorgan is reportedly still in the early stages of exploring a similar private blockchain service, lagging behind Citigroup's innovation.
Bitcoin is making a strong comeback, currently priced at $26,684 and holding over 50% of the total cryptocurrency market, boasting a market cap of approximately $520 billion. This milestone is significant as it contrasts with the stagnation or decline of many alternative cryptocurrencies (altcoins). Ethereum, the closest rival, sits at $1,632.09, with other altcoins showing modest gains or losses. Bitcoin's resurgence aligns with historical trends, often thriving during bear markets, cementing its status as a digital "safe haven." Despite gains, it remains below its peak dominance levels, but its return to prominence is noteworthy.
Animoca Brands subsidiary Darewise Entertainment is set to introduce the first-ever metaverse token on the Bitcoin blockchain. The token is aimed at powering a comprehensive ecosystem for gaming, brands, and real-world experiences. This move represents a significant expansion of Bitcoin's capabilities beyond a store of value. The metaverse token will facilitate in-game assets and virtual lands for the Life Beyond metaverse project, marking a new era for Bitcoin. Darewise Entertainment is partnering with Horizen Labs to develop and expand the Ordinals ecosystem on Bitcoin, with more innovations expected in the coming months.