Crypto’s biggest problem is not volatility, but scalability
Notwithstanding this bear market, Web3’s more pressing issue is its inability to handle large volumes, writes Greg Gopman. Can sidechains offer a solution?
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Polium’s NFT/Web3 game console plan meets with plenty of skepticism
Web 3.0 company Polium’s plan to make the world’s first “multi-chain gaming console” to support games across different blockchains is an ambitious goal that has met a chorus of skepticism. See related article: What is Axie Infinity and how is it ushering in gaming 3.0? Fast facts Polium, a startup that first announced its plans…
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Monthly NFT sales fall below US$1 billion for first time in 12 months
Crypto industry sales are slumping, but it’s not just hedge funds and lenders that have been hit hard by the crypto winter. The NFT industry has also begun to feel the chill.
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Indian crypto trading volume drops as much as 63% after new tax
Trading volume in Indian cryptocurrency exchanges dropped by as much as 63% since July 1, when a 1% tax deducted at source (TDS) was imposed. See related article: India’s latest tax assault on crypto exchanges starts Friday Fast facts Daily trading volume at cryptocurrency exchange WazirX fell more than 63% on July 1 to US$5.36…
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India’s latest tax assault on crypto exchanges starts Friday
India’s government can’t seem to decide on following China with an outright ban on crypto trading. So is it bent instead on suffocating traders and exchanges with taxes?
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Axie Infinity’s Ronin Bridge up and running after months of repairs
Sky Mavis’ Ronin Bridge is back online after one of the largest decentralized finance (DeFi) heists in history prompted a three-month network hiatus, Ronin announced in a Tuesday newsletter. See related article: Are we helpless against attacks on blockchain bridges? Fast facts Ronin Bridge is used by non-fungible token (NFT) game Axie Infinity players to…
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Bitcoin, Ether bear brunt of market selloff amid fears of Fed rate increase
Still recovering from the Terra-LUNA debacle that wiped off billions of dollars in investor wealth, people sold off cryptocurrencies amid a market slump over expectations that the Fed will act faster to tame inflation.
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TRON founder pledges US$2B defense fund after USDD stablecoin loses dollar parity
TRON founder Justin Sun on Monday said he will set up a US$2 billion fund to support the dollar peg of the project’s stablecoin USDD and “fight” against short sellers, after the stablecoin’s price fell to US$0.97. See related article: Binance resumes Bitcoin withdrawals Fast facts USDD uses an algorithmic mechanism to keep its dollar…
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US crypto bill leaves ‘open question’ on securities: Tessler
A proposed US crypto bill may place crypto under the CFTC’s primary oversight, but that won’t exclude the SEC from the industry, Sidley Austin’s Lilya Tessler says.