Author: Jeremy Ryan

Cryptocurrency lawyers have rebuffed comments made by the head of the United States securities regulator, who claimed in a recent interview that every cryptocurrency except Bitcoin (BTC) is a security that falls under its jurisdiction.In a wide-ranging Feb. 23 New York Magazine interview discussing crypto, Securities and Exchange Commission Chair Gary Gensler claimed “everything other than Bitcoin” falls under the agency’s remit.He added other crypto projects “are securities because there’s a group in the middle and the public is anticipating profits based on that group,” which he said is not the case with Bitcoin.Gensler in @NYMag on crypto:-everything is a…

NFT Yuga Labs, the $4 billion company behind dominant NFT collection Bored Ape Yacht Club, will debut its first-ever Bitcoin-based NFT project later this week, the company announced Monday. The collection, TwelveFold, will consist of 300 limited-edition generative art pieces each inscribed to the Bitcoin blockchain. It’s one of the highest-profile launches to date via Ordinals, a recently-launched way of committing artwork and media to Bitcoin by permanently attaching each to an individual Satoshi, or 1/100,000,000 of a full Bitcoin (BTC). The pieces, all 12×12 grids—an homage to the manner in which data is stored on the Bitcoin blockchain—will combine…

The nonfungible token (NFT) marketplace Blur has seen its trading volumes and total sell-side liquidity skyrocket since conducting an airdrop on Feb. 14. The reason for the spike could be the start of Season 2 of its airdrops, where 10% of the BLUR token’s total supply will be distributed to certain users based on their activity. The team allocated 12% toward an early user airdrop in the first season that ran from the marketplace’s gated launch in March 2022 through February 2023.Blur trading volumes (in ETH). Source: Dune Blur has made a significant dent in OpenSea’s position as the leading marketplace.…

Blockchain As the use of blockchain technology continues to evolve, it presents new opportunities and challenges for fundraising in conflict zones. While blockchain-based fundraising can offer advantages such as increased transparency and accountability, it also raises ethical questions about the use of crypto in global conflicts. One example of this is the use of cryptocurrency to fund conflict in Ukraine. Both sides of the conflict have reportedly used illicit sources to raise funds through blockchain-based platforms, raising concerns about the potential risks of sanctions violations and other illicit activities. Illicit Use of Cryptocurrency in the Ukraine-Russia Conflict The ongoing conflict…

NFT Twitch streamer Kyle Jackson, who is known by his pseudonym Mongraal, sold his winning Dookey Dash key for 1,000 ETH (about $1.6 million) on Monday. The one-of-one “Golden Key” was earned by receiving the highest score on the skill-based non-fungible token (NFT) game Dookey Dash, which was released by Bored Ape Yacht Club-parent company Yuga Labs last month. According to the company, Dookey Dash pass holders can use their pass to summon their “Power Source” on March 8. Mongraal initially listed the pass at 2,222 ETH (about $3.6 million) on OpenSea and refused smaller-but-notable offers from the United Planets…

NFT Many crypto builders see video games as the killer app for Web3, citing perceived benefits like ownership of in-game items as NFTs, possible interoperability between games, and the potential to profit from rising token and NFT values. But by and large, gamers aren’t buying it. Prominent NFT gaming efforts by firms like Ubisoft, Square Enix, and GSC Game World have faced backlash from outspoken video game fans. Critics point to shallow gameplay for early NFT games, crypto industry scams, and falling asset prices, plus a belief that game publishers will use NFTs to extract more cash from players. Ryan…

LinksDAO, a decentralized autonomous organization with members from across the golf community has made history by purchasing its first golf course through an NFT-based fundraising event. The Spey Bay Golf Club, located on the Moray coastline in Scotland, was recently put up for sale. Members of the DAO needed to act fast to secure the course, which is priced at $900,000. It has been described as “charming.” Spey Bey Golf Club is being purchased by LinksDAO. Credit: Scotland Where Golf Began. How Did The Decentralized Vote Go? 88% of the LinksDAO members voted in favor of the acquisition of the…

The Financial Stability Board (FSB), the International Monetary Fund (IMF), and the Bank for International Settlements (BIS) will deliver papers and recommendations establishing standards for a global crypto regulatory framework, the group of the 20 biggest economies of the world — collectively known as G20 — announced on Feb. 25.According to a document summarizing the outcomes of the meeting with finance ministers and central bank governors, the FSB will release by July recommendations on the regulation, supervision and oversight of global stablecoins, crypto assets activities and markets. India’s finance minister, Nirmala Sitharaman, during FMCBG meeting in Bengaluru. Source: Ministry of…

Nonfungible tokens (NFTs) have grown into a distinct sector within the blockchain industry, but they still have to address several challenges before aiming for mass adoption. One of the key issues of the space has to do with data accessibility, or mostly, the lack of it. Unlike the broader crypto industry, the NFT market is still in its infancy, and there are relatively few resources available for tracking NFT collections, exploring detailed statistics and analyzing market trends.To begin with, the NFT market lacks standardized data formats and metadata. This can make it difficult for NFT buyers and sellers to share…

Blockchain Axelar, the blockchain network that helps developers build cross-chain crypto apps, is expanding its product suite with the introduction of Axelar Virtual Machine (VM) – a generalized environment for building interconnected blockchains. “Axelar Virtual Machine will allow developers to build their dApps (decentralized apps) once – whether on EVM, Cairo VM, Cosmos or another ecosystem – and run them on all chains,” Axelar said in a statement. Most blockchains today are walled gardens; apps built on one chain typically lack access to data or services on another. Different blockchains can use different programming languages, and operating across chains generally…