The crypto winter continues. Crypto lender Voyager became the latest large company to file for bankruptcy. This Coindesk report says, “The Toronto-based Voyager filed for Chapter 11 bankruptcy protections Tuesday in the U.S. Southern District Court of New York, estimating that it had more than 100,000 creditors and somewhere between $1 billion and $10 billion …
Early signs of the crypto winter are here? After Luna’s collapse, it was the turn of Celsius, a blockchain-lending platform to melt down. It had raised a total of $846 million in funding and had $12 billion worth AUM (assets under management). On Monday, it announced that it would halt all withdrawals due to bad …
New finance faces old problems. Insider trading has raised its ugly head in the world of NFTs. Former OpenSea Product Manager Nathaniel Chastain has been charged with insider trading, wire transfers and money laundering. This CBS report says, “Prosecutors allege that Nathaniel Chastain, 31, capitalized on his role as a product manager at OpenSea to …
Cryptocurrency faces a lot of friction in India thanks to the Indian government. But times seem to be changing. This Reuters report says, “Inflation in India should moderate in coming months and the government is ready with its consultation paper on cryptocurrencies, economic affairs secretary Ajay Seth told reporters on the sidelines of an event …
There have been a lot of reports and op-eds on how crypto-mining is harmful for the environment. A few pieces are here, here and here. But what if the world of cryptos and tokens could help the environment? That’s what Nature’s Vault’s Legacy token is trying to do. This Singapore-based company has acquired mining rights …
A tale of two blockchains: Transaction fees are important on decentralized systems. This was evident from the fact that two blockchains functioned in very different ways this past week. Late Saturday, US Eastern time, the Solana blockchain shut down for seven hours. This happened “…after what one insider called “insane amount of data” flooded the …
Uniswap, the cryptocurrency exchange, has seen a user file a class-action suit against it. The article in The Block says, “The complaint contends that if Uniswap Labs had registered with the SEC and met the burden of securities laws, investors would be better protected from fraudulent activity.” The case shines light on the gaps in …
After DeFi, it seems like it’s now time for GameFi to take centerstage. In the last year, over $3.6 billion has been poured into crypto gaming startups in the hope that games will recreate the magic of DeFi. Polygon is one of the major players in this space. This Coindesk article says, “For instance, Polygon …
Stocks on Steroids or Irrational Optimism? What better way to explain rotten investments than with meme stocks? According to Charles Schwab, 20% of all investors started in 2020. This retail crowd knew little about the stock market and even less about its dangers. The only thing most people cared about was making money fast. Intoxicated …
Coinbase, one of the world’s largest crypto exchanges, got off to a rocky start in India. They made a big-bang announcement about their new feature: a UPI (Unified Payments Interface) option for buying crypto. The NPCI’s (National Payments Corporation of India) website defines UPI as: “…a system that powers multiple bank accounts into a single …
