Author: Jeremy Ryan

Crypto bank Silvergate announced on March 3 that it is discontinuing its digital assets’ payment network, claiming the termination is a “risk-based decision.“ The move comes after the bank’s stock fell over 59% in the past five days due to fears of a potential bankruptcy. A disclaimer on Silvergate’s website stated:“Effective immediately Silvergate Bank has made a risk-based decision to discontinue the Silvergate Exchange Network (SEN). All other deposit-related services remain operational.” A second decision on the same day from United States Judge Michael Kaplan said Silvergate had to return $9.8 million deposited by BlockFi. As per documents posted on the website of…

NFT NFT heavyweight Yuga Labs laid out the terms of the auction for its Bitcoin NFT collection TwelveFold on Sunday, which is due to start at 3 p.m. PT. Of the 300 NFTs on offer, which were generated by Yuga Labs using 3D modeling technology among other techniques, 288 will be available for sale. There will be 12 held back for contributors, donations and philanthropic efforts, according to a company release. The auction will close about 24 hours after it starts. The results will be finalized based on the last completed Bitcoin block before 3 p.m. PT on March 6.…

Crypto exchange Binance has been accused of “blatantly” copying the winner of the BNB Chain hackathon after launching Bicasso — an AI-based nonfungible token (NFT) creation tool. Binance allegedly ripped off a tool created by Chatcasso just two months after awarding them first prize in a BNB Chain hackathon held in Seoul from Dec. 17–19, 2022.On March 1, Binance CEO Changpeng “CZ” Zhao announced the launch of Bicasso, an artificial intelligence (AI) product that can be used to “turn your creative visions into NFTs with AI.” However, community member “ggoma” believes Binance copied and promoted the Chatcasso project as its…

India’s recently launched in-house central bank digital currency (CBDC) — the digital rupee — is now being tested for offline functionality, revealed Ajay Kumar Choudhary, executive director of the Reserve Bank of India (RBI).The RBI — India’s central bank and regulatory body — launched the wholesale segment pilot for the digital rupee on Nov. 1, 2022, onboarding 50,000 users and 5,000 merchants for real-world testing. As of Feb. 25, around $134 million and 800,000 transactions have been completed via wholesale CBDCs.Building on this progress, Choudhary said the RBI is looking at the CBDC’s offline functionality. Speaking to CNBC TV18, he stated the RBI is…

United States Senator Edward Markey and Representative Jared Huffman announced on March 3 that they would reintroduce the Crypto-Asset Environmental Transparency Act in Congress. The move comes ahead of a Senate hearing on the environmental impact of crypto mining, which Markey will chair on March 7.Markey and Huffman first introduced the bill in December, in the previous Congress. Senator Jeff Merkley acted as a co-sponsor in the Senate. The bill would require crypto mining companies to disclose emissions for operations that consume more than 5 megawatts of power and require the administrator of the Environmental Protection Agency (EPA) to head…

NFT The TwelveFold auction will begin tomorrow March 5th, 2023 at 3PM PT and and will conclude 24 hours later on the block immediately before 3PM PT on March 6th, 2023. pic.twitter.com/ElKhupaKqo — Yuga Labs (@yugalabs) March 4, 2023 Yuga Labs recently introduced the TwelveFold NFT line, which is based on the Ordinal protocol on the Bitcoin blockchain. This exclusive collection consists of 300 limited edition works of art, with each piece being uniquely engraved on the Bitcoin blockchain. The NFTs are divided into a 12×12 grid and feature a combination of 3D graphics and hand-drawn elements, all of which…

NFT The Cool Cats NFT collection has been gaining significant traction in the NFT space, and this integration with Chainlink is expected to further enhance its value proposition. #Chainlink NFT Floor Price Feeds can power hybrid NFT-DeFi solutions around lending, derivatives, indexes, and more.Integrate the Cool Cats #NFT Floor Price Feed Price Feed on #Ethereum to build secure #DeFi markets around @coolcats NFTs.https://t.co/LBIEGzvm75 — Chainlink (@chainlink) March 4, 2023 For those unfamiliar with Cool Cats, it is a collection of 10,000 unique, hand-drawn cat NFTs created by the artist known as “Mud Dog.” The collection has been making waves in…

Austin Federa, head of strategy at the Solana Foundation, spoke to Cointelegraph at the ETHDenver conference on the network’s outages, the impact of regulation on other projects, and the launch of its mobile device.Federa said the New York Department of Financial Services — or NYDFS, one of the state regulators responsible for licensing crypto firms — was essentially setting up roadblocks for many projects looking to issue stablecoins or similar blockchain services. He added that Solana had heard from projects facing “pretty draconian” rules in the European Union related to shifting to non-custodial wallets. “DFS has not certified Solana yet,”…

The emergent NFT marketplace Blur may have raised an open battle against the once-market leader, but the latter appears to be making a comeback, albeit slowly. According to Dune Analytics data compiled by sealaunch.xyz, the percentage of unique users on OpenSea saw an uptick since taking a plunge in mid-February. Simultaneously, it was found that there has been a significant decrease in the average sale size per user on Blur after the airdrop. Since the event, the trading volume of major collections such as CryptoPunks, BAYC, Otherdeed, MAYC, Meebits, Moonbirds, CloneX, and Doodles decreased on Blur and instead rose on…

The show Macro Markets, hosted by Marcel Pechman, which airs every Friday at 12 pm ET on the Cointelegraph Markets & Research YouTube channel, explains complex concepts in layman’s terms and focuses on the cause and effect of traditional financial events on the day-to-day crypto activity.In today’s episode, crypto analyst Pechman analyzes the United States Federal Reserve interest rate and its relationship with cryptocurrency markets. For instance, high-interest rates are detrimental to risk assets. However, investors usually price today’s action on how the economy will be in six months or longer.Viewers will learn why trusting charts and indicators can be…