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Starbucks Odyssey, the coffee company’s Web3 loyalty program, released this week its first limited edition NFT, which it calls “Stamps.” They sold out in only 18 minutes. Let’s take a look at ‘Stamps’ from Starbucks! Starbucks launched the Web3 Odyssey program. What is the “Stamps” Floor Price? “Siren Collection” is the last drop of the Starbucks Odyssey Stamp Series. It features 2,000 items representing a version of the company’s iconic Siren. Members of Starbucks Odyssey were able to buy two stamps at 100$ each and could pay by credit card or by connecting their MetaMask wallet. The drop took place…

United States Senators Elizabeth Warren and Ron Wyden asked the Public Company Accounting Oversight Board (PCAOB) to hold auditors accountable for failed crypto projects. The PCAOB — a nonprofit overseeing the audits of public companies and other issuers — recently stated that proof-of-reserves (POR) are not equivalent to audits conducted under PCAOB auditing standards. POR is a method widely adopted by crypto exchanges to confirm the availability of users’ funds. However, Warren demanded stricter oversight:“But let’s be clear: there’s more PCAOB needs to do so consumers aren’t left holding the bag when shady crypto firms collapse.”The crypto community contrasted her statement…

NFT The introduction of Ordinal Theory has birthed a new type of NFT inscribed directly on the Bitcoin blockchain, ushering in a new era of on-chain Bitcoin NFTs. Read on to learn about what Ordinals are, how they enable the creation of Bitcoin NFTs and discover a list of five popular Bitcoin Ordinals NFT collections worth checking out. What Are Bitcoin Ordinals NFTs? Created by Bitcoin developer Casey Rodarmor, Ordinal Theory is a numbering scheme that gives every Satoshi a number, allowing for each sat to be tracked and transferred. These numbers are referred to as Ordinals, and each Ordinal…

Almost immediately after USD Coin (USDC) issuer Circle revealed it could not withdraw $3.3 billion of its $40 billion reserves from Silicon Valley Bank (SVB), the resultant sell-off caused the price of the stablecoin to fall below its $1 peg.On March 9, Circle initiated a wire transfer to remove its funds from SVB as the Federal Deposit Insurance Corporation-insured bank was about to shut operations. However, two days later, on March 11, Circle confirmed that the wire transfers were not wholly processed, with $3.3 billion of USDC reserves still with SVB.2/ Like other customers and depositors who relied on SVB…

4. How do NFTs prove ownership? Nonfungible tokens (NFTs) prove ownership by creating a unique digital certificate for a specific asset. A decentralized digital ledger that keeps track of all nonfungible token transactions and ownership changes is used to create each NFT. When generated, an NFT has a unique digital signature, signifying the ownership of the asset it stands for. This signature is recorded on the blockchain with all the information about the asset and the transaction. Since the blockchain is decentralized and offers immutability, it provides a secure and transparent record of ownership that cannot be altered or deleted.…

On March 10, Blockchain payment tech company and USD Coin (USDC) issuers Circle confirmed that wires initiated on Thursday to remove balances have not yet been processed, leaving $3.3 billion of its $40 billion USDC reserves at Silicon Valley Bank (SVB). Concerns have been growing over USDC late this week because Circle disclosed in its latest audit that as of Jan. 31, $8.6 billion, or roughly 20% of its reserves, was held in several financial institutions, including the recently bankrupted Silvergate and the now-shuttered SVB. In a bid to provide transparency on the matter, Circle disclosed via Twitter on March 10…

While some global economies got distracted by the commotion around price instability and ecosystem collapses in crypto, South Korea doubled down on the metaverse’s potential as a new economic growth engine.South Korea’s Ministry of Science and ICT announced investments in a fund dedicated to driving metaverse initiatives in the country. According to the official announcement, the South Korean government invested 24 billion Korean won ($18.1 million) to create a fund of more than 40 billion Korean won ($30.2 million) toward metaverse development.With the help of the Metaverse Fund, South Korea will support the mergers and acquisitions of various firms in the…

On March 10, the United States Securities and Exchange Commission ruled against a change that would allow investment manager VanEck to create a spot Bitcoin (BTC) trust. Commissioner Mark Uyeda joined his colleague Hester Peirce in releasing a statement criticizing the commission’s decision not to approve the listing and trading of the financial product. The commissioners noted that the SEC had denied every application for a spot Bitcoin trust that ha been filed, amounting to almost 20 over the last six years. Its decision on VanEck “repeats the analysis that the Commission has given in each of these recent orders,” they said,…

NFT Over the past 24 hours, one Ethereum address liquidated almost 500 Moonbirds NFTs for significant losses. Selling in batches, the address realized losses between 9% and 33% — with 200 Moonbirds sold for a loss greater than 32%. The transactions all took place on NFT marketplace Blur and amount to a total loss of more than 700 ether, according to NFTTrack. The address in question no longer holds any NFTs and its ether balance is below 0.001 ETH ($1.21). The floor price for Moonbirds has declined by more than 27% over the past 24 hours. Often considered a “blue-chip”…

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week.DeFi has become a prominent choice for investors after multiple centralized finance (CeFi) collapses throughout 2022. Some key interest areas for investors include “NFTfi,” on-chain derivative platforms, decentralized stablecoins and Ethereum layer 2’s.February saw seven DeFi exploits resulting in a net loss of about $21 million. March is no different, with multiple exploits already recorded, such as on Hedera’s mainnet. DeFi lender Tender.fi was exploited, but the white hat hacker that drained $1.59 million returned…