Nike launches digital sneaker collection
Months after the debut of the Swoosh platform, Nike (NYSE:NKE) is dropping its first NFTs there. The Our Force 1 (OF1) collection will consist of Non-Fungible Tokens (NFTs) of Polygon virtual shoes designed to honor the iconic Nike Air Force 1 shoe with over 40 years of history. Two types will be available as part of the release: Classic Remix shoe boxes, which contain Air Force 1 models released between 1982 and 2006, and New Wave boxes, which feature the pairs designed from 2007 onwards. All virtual sneaker boxes will cost $19.82, a play on the Air Force 1’s debut year. Nike will not accept payments for NFTs in cryptocurrencies.
Luno leaves Singapore after 35% job cuts
Crypto platform Luno, whose parent company is digital venture capitalist Digital Currency Group (DCG), will exit the Singapore market on June 20 and withdraw its license application. “This decision was made as part of a regular assessment of our strategy and global presence,” the team said. “As a result of this decision, we have also informed the Monetary Authority of Singapore of our intention to withdraw our license application.”
Lukso Genesis Validator will launch Smart Contract on 04/20
Lukso, a tier 1 blockchain for creative types that was co-founded by blockchain veterans Fabian Vogelsteller and Marjorie Hernandez, is opening a smart contract that allows “Genesis”, or original validators, to participate in the execution of the blockchain. Smart contract deposits will be opened on the Ethereum blockchain on April 20 (4/20) at 16:20 UTC, according to CoinDesk. Anyone can become a Genesis validator if they contribute 32 native Lukso tokens (COIN:LYSEUSD), (about $439 USD), to secure the network.
Wirex announces Wirex Private Service
Wirex, a payments platform with more than 5.5 million customers, has launched Wirex Private, aimed at its “growing segment of affluent customers,” the press release said. This product will offer “a luxury service, including exceptional levels of support and exclusive perks at no additional cost,” including no membership fees, a dedicated account manager to provide priority support, custom limits and loan terms, and up to 8% rewards Cryptoback for all card purchases.
Ethereum Tier 2 Increased 6x in Q1 (Y/Y)
Ethereum layer 2s such as Optimism, Arbitrum and Polygon increased in popularity in the first quarter of 2023, according to a report, titled “Web3 Development Report”, by development platform Web3 Alchemy. Ethereum users transferred over $635,000 worth of crypto assets to these networks from January to March, up 44% from Q4 2023 and 518% from Q1 2022.
Babel Finance creditor protection extended for another 3 months in Singapore
A court in Singapore has extended creditor protection for troubled cryptocurrency lending firm Babel Finance for another three months, Bloomberg reports, citing co-founder Flex Yang. The moratorium will now last until July 21. After the cryptocurrency meltdown last year, the company owes creditors $800 million. Under the proposed restructuring plan, Babel would repay the debt with revenue generated by a new decentralized finance (DeFi) project by minting the ‘Babel Recovery Coins’.
Brian Armstrong met with UK Economic Secretary
Coinbase (NASDAQ:COIN) CEO Brian Armstrong tweeted that he had a “great meeting” with UK Treasury Economic Secretary Andrew Griffiths. Armstrong played down concerns about the blocking growth of cryptocurrencies and the digital libra in the UK, saying that everything is moving towards providing “sensible cryptographic regulation”, adding that Coinbase is excited to continue to support the region.
UAE implements new cryptocurrency exchange licensing program
The federal securities regulator in the United Arab Emirates (UAE), the Securities and Commodities Authority (SCA), will begin accepting applications from companies looking to provide cryptocurrency services in the country, according to an announcement. Companies wishing to operate in the Emirate of Dubai must obtain a license from its Virtual Assets Regulatory Authority (VARA) in addition to SCA approval, he said.
‘Is Ether a commodity or a security?’
Patrick McHenry, chairman of the U.S. House Financial Services Committee, criticized the SEC and its leadership on digital assets at an oversight hearing, reiterating calls for U.S. lawmakers to provide “clear rules of the road” for cryptocurrencies through legislation. He pressed SEC Chairman Gary Gensler for a definitive answer on whether ether (COIN:ETHUSD) qualifies as a security under the SEC’s purview, or a commodity under the Commodity Future Trading Commission.
Bitget and Core DAO Launch $200M Ecosystem Fund
Crypto derivatives exchange Bitget has partnered with Core DAO, an organization committed to developing the Satoshi Plus ecosystem, to launch a $200 million ecosystem fund aimed at supporting decentralized applications (dapps) built on the Core Network Layer- 1. According to the press release, The Ecosystem Fund, backed by strategic partners including Bitget and crypto trading platform MEXC, will provide early stage project support for research and development, recruitment, marketing, community building programs and other initiatives.
Connection between Nuvei and FTX are pointed out in the Spruce Point Capital report
Payment systems maker Nuvei (NASDAQ:NVEI) stock could face a drop of up to 50% in the long term, in part because of its ties to cryptocurrency exchange FTX, Spruce Point Capital Management wrote in a report released on Tuesday morning. Spruce Point questioned the partnership made with FTX in December 2021 to allow users to receive instant payments to buy cryptocurrencies faster and more securely, and says that Nuvei may also have been an investor in the now bankrupt cryptocurrency exchange.
Hashgraph Enterprise Program launches to accelerate Hedera Network adoption around the world
The Hashgraph Association, a not-for-profit organization supporting the widespread adoption of the Hedera network, today announced the launch of the Hashgraph Enterprise Program (HEP). Backed by up to $22.5 million in HBAR from Hedera (COIN:HBARUSD), the program aims to drive the integration of more than forty enterprise projects per year into the network. Projects will be eligible for up to $500,000 equivalent in HBAR funding per participating company, the press release said. The Hashgraph Association has also welcomed Rob Allen, formerly Senior Vice President of Ecosystem Growth at the HBAR Foundation, to its leadership team and has expanded its staff with ten additional new hires in 2023 to support the launch and operations of the HEP.
PancakeSwap proposes to lower CAKE token inflation target to 3% to 5%
Project leaders at decentralized crypto exchange PancakeSwap on Tuesday proposed lowering the supply growth rate target for its native token (COIN:CAKEUSD) to 3% to 5%, a drastic cut from its current rate above 20%. The proposal will be open to community feedback next week and will then move to a “decision proposal” for a final vote, according to a blog post.
Dfinity Foundation claims that ICP consumes less energy than Cardano and launches Proof of Green (PoG)
The DFINITY Foundation, a Swiss non-profit and leading contributor to the Internet Computer (COIN:ICPUSD) blockchain, today launched the Proof of Green (PoG) initiative, which “aims to bring transparency and reduce greenwashing in the blockchain industry by standardizing how blockchains report carbon consumption,” the press release said. The DFINITY Foundation is working with Carbon Crowd, a climate technology startup that develops solutions to decarbonize cloud infrastructure. A single Cardano (ADA) transaction consumes 8,598 times more energy than a transaction on the Internet Computer blockchain network, according to the Dfinity Foundation.
Unchained raises $60 million
Unchained, a financial services provider for Bitcoin holders, announced a $60 million Series B funding round led by Valor Equity Partners. NYDIG, Trammell Venture Partners, Ecliptic Capital and Highland Capital Partners also participated. Unchained Capital provides a more secure way to retain fees than storing cryptocurrencies on centralized exchanges or a single key solution.
peaq integrates with Fetch.ai
Web3 network peaq announced its integration with Fetch.ai, a platform that powers peer-to-peer (P2P) applications with automation and AI capabilities. According to the press release, the integration brings AI microagents to peaq’s machine-centric network. Through peaq and its canary krest network, the integration between the two projects unlocks the Fetch.ai framework for the wider Polkadot and Kusama ecosystem, he said.
SafeMoon Hacker Agrees to Return 80% of Stolen Funds
According to @SafeMoonSpidey, both parties struck a deal in which the hacker would return 80% of the funds – leaving him with 20% with no charges against him. A message on the chain read: “After careful consideration of the circumstances, this is believed to be in the best interest of SafeMoon and the community.” On March 28, a smart contract vulnerability was exploited, leading to a liquidity loss that netted the attacker $9 million worth of tokens. In the weeks that followed, the SafeMoon community expressed dissatisfaction with the lack of meaningful updates on the matter.