Author: Atis. Sh

Yuga Labs, creators of the Bored Ape Yacht Club (BAYC) NFT collection, announced a groundbreaking partnership with Japan-based streetwear titan, A BATHING APE (BAPE). This collaboration fuses two very different yet complementary worlds, blending “lazy opulence and irreverence” into a capsule of limited items. Naturally, the announcement has led to high levels of anticipation among fans and investors in both spheres. A New Direction for BAPE and BAYC To kick off, it’s important to highlight the innovative aspects of the collection. Preview images indicate at least one Ape Head logo tee adorned with various BAYC elements. More intriguingly, the Bored…

As the crypto community celebrates the 15th anniversary of Satoshi Nakamoto’s groundbreaking whitepaper, SEC Chairman Gary Gensler took to Twitter to extend his well-wishes. Notably, his message came with a stern warning aimed at cryptocurrency companies. “Any crypto companies that are tricking investors should start treating them to compliance with the securities laws,” Gensler tweeted. Gensler’s Evolving Stance on Crypto Regulation In 2019, a pre-SEC Gary Gensler expressed skepticism about the U.S. securities regulator’s approach to Bitcoin-related products. Captured in a resurfaced video clip, he discussed blockchain regulation with SEC Commissioner Hester Peirce during the 2019 MIT Bitcoin Expo. “Bitcoin…

Binance recently carried out its 15th token burn, incinerating approximately 760 million Terra Luna Classic (LUNC) tokens. This latest burn adds to the already staggering figure of 40 billion LUNC tokens that have been eliminated from circulation by the exchange. Starting from September 30, 2023, Binance initiated a systematic reduction in LUNC supply. The primary source for these tokens has been trading fees collected by the platform. Last month alone, Binance burned over 1 billion tokens. Interestingly, this month’s figures show a dip, calling attention to a possible decline in trading activity. The reason? Fewer tokens are being collected for…

In a high-stakes courtroom drama that could reshape the crypto landscape, lawyers representing Terraform Labs and its co-founder, Do Kwon, have made a strategic move. They’ve requested summary judgment from a New York judge in an ongoing lawsuit spearheaded by the U.S. Securities and Exchange Commission (SEC). If granted, this could put the brakes on the case advancing to a full-blown trial, significantly altering the legal prospects for both parties. Terraform Labs and Do Kwon Challenges SEC’s Evidence At the heart of the issue is the SEC’s allegation that Terraform Labs, the creator of the algorithmic stablecoin Terra USD (UST),…

In a move that intertwines the frontiers of blockchain and artificial intelligence, Voltage Park is making headlines. Set to launch a massive AI chip rental cloud service, the startup has acquired 24,000 Nvidia H100 chips, clocking in at a colossal investment of $500 million. Anticipated to go live by February 2024, the service will offer both long-term and short-term plans to fill the gaps in AI chip shortages, a rising concern among tech giants like Microsoft and OpenAI. Bridging the AI Chip Gap: A Sustainable Solution Interestingly, this cloud-based service model addresses a pain point in the tech industry—AI chip…

The UK government has unveiled a sweeping set of rules aimed at regulating the burgeoning crypto assets and stablecoins sector. Touted as a pivotal turning point in the nation’s stance on digital currencies, the announcement demonstrates the UK’s steadfast commitment to aligning crypto assets with conventional financial frameworks. The strategic rollout of these crypto regulations will occur in phases. Initially, the government’s spotlight will be on fiat-backed stablecoins, followed by an extended purview over other cryptocurrency variants, including algorithmic stablecoins. This phased approach aims to cultivate a structured, yet adaptable regulatory environment to keep pace with the rapid advancements in…

Thailand’s second-largest bank, Kasikornbank (also known as KBank), announced its acquisition of a staggering 97% of shares in Stanag Corporation, a local crypto exchange. Signaling a significant pivot towards embracing digital assets, the Thai banking giant is leveraging this acquisition to diversify its financial offerings and make a monumental foray into the rapidly evolving crypto sector. The acquisition was orchestrated through Unita Capital, a subsidiary of KBank. Notably, the deal was worth a registered capital of 3.7 billion Baht, which converts to more than $102 million. Furthermore, KBank has immediate plans to rebrand the newly-acquired crypto exchange to Orbix Trade…

In a recent reveal by Forbes, Elon Musk’s social media venture, X, formerly known as Twitter, is now valued at a notable $19 billion. This valuation was derived from the recent employee equity compensation offers, a slight dip from the $20 billion valuation earlier in March. According to a report by Fortune, which cites a screenshot of the company’s employee stock grant details, the valuation comes in the wake of an email sent to staff on Monday. In this correspondence, X offered restricted stock units (RSUs) to employees at a share price of $45. This valuation, although impressive, is a…

Uniswap’s decentralized autonomous organization (DAO) recently cast its ballots. The vote? To invest a significant 3 million UNI tokens ($12 million) from the treasury into Ekubo, a fledgling decentralized exchange on Starknet. This investment comes with the caveat of a 20% share in Ekubo’s forthcoming governance token. Moody Salem, the founder of Ekubo and a former lead engineer at Uniswap, celebrated the move. Accordingly, the Ekubo team will act as core developers, blending their expertise with that of Uniswap’s existing talents. “We see this as a monumental stride in decentralizing Uniswap’s protocol development,” Moody Salem, Founder of Ekubo The DAO’s…

In a significant move that could redefine the landscape of cross-border transactions, multi-asset trading platform Uphold has disclosed plans to procure Ripple’s XRP tokens from the open market. Aimed at advancing Ripple Payments—formerly known as On-Demand Liquidity (ODL)—this development seeks to fortify Uphold’s existing strategic alliance with Ripple Labs. Consequently, the trading platform aims to provide Ripple Payment services to its U.S-based clientele through this strengthened partnership. Sparked by a customer query concerning the utilization of client deposits in cross-border transactions, Uphold cleared the air in a recent post. “Our goal is to leverage our expertise in securing both fiat…