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Megan Crowell, the chief people officer at crypto lending firm BlockFi, has petitioned a court to allow bonuses for “key employees” amid Chapter 11 bankruptcy proceedings.In a Jan. 23 declaration for United State Bankruptcy Court in the District of New Jersey, Crowell said that without giving certain financial incentives, BlockFi might be unable to retain employees in a “highly competitive” crypto industry. According to the BlockFi executive, many staff were “highly likely to leave the company” during the Chapter 11 process without “competitive compensation,” potentially adding to costs down the road.“The war for talent remains active, and the Participants have…

Solana’s (SOL) recent 250% rally to $25 has shocked many investors in the crypto market. At the same time, traders who had eyes on the negative funding rate for SOL in the futures market could have anticipated the bullish move ahead of others. It’s because excessive negative funding rates, like the one in Solana displayed below, implies that the majority of traders are on the short side, providing an opportunity for buyers to run their stops.SOL funding rate for perpetual swaps. Source: CoinglassRegardless of the reason behind the price increase, if enough buyers are interested in joining the bullish move,…

Doodles have big plans ahead for 2023, and the team’s three new members are ready to make them happen! This week, the popular NFT project welcomed Jay Ciruolo, Joe Ranzenbach, and Austin Hurwitz to boost the brand’s growth throughout this year. Doodles just welcomed three new team members ready to boost the brand’s growth in 2023. Who are Doodles’ Brand New Team Members? This year, Doodles’ team seems to grow as fast as the project itself. The project started 2023 by hiring three new members with plenty of experience in the Web3 sector, so let’s meet them all: Jay Ciruolo…

NFT Porsche is halting the mint of its first non-fungible token (NFT) collection, the German sports car manufacturer announced on Twitter, after receiving negative feedback from its community. “Our holders have spoken. We’re going to cut our supply and stop the mint to move forward with creating the best experience for an exclusive community,” said the project’s official Twitter account, claiming that more information is coming later in the day. The mint opened on Monday morning, with each NFT – a digital replica of its iconic 911 model – priced at 0.911 ether (ETH), or about $1,490 each. In the…

NFT Rising bitcoin and ether prices have offered short-term reprieve for battered crypto markets, but floor prices for Bored Apes and CryptoPunks have barely budged. Both bitcoin (BTC) and ether (ETH) are up nearly 40% year to date, both reaching highs not seen in around five months. On the other hand, Bored Ape Yacht Club (BAYC) and CryptoPunks’ floor prices — representing the last sale price of the cheapest NFT in each collection — are down between 5% and 8% since Jan. 1, hovering at 66 ETH ($107,000) and 63 ETH ($102,000), respectively. Floor prices for other buzzy NFT collections…

The metaverse hype that began in 2021 dissolved almost entirely by the end of 2022 as the top projects in the space, Decentraland and The Sandbox, lost 95% of their market capitalization. The most prominent reason for the fall was a lack of user growth. Still, the metaverse narrative is far from dead and will grow in the future. Reportedly, Apple will launch its virtual reality gear sometime in spring 2023. The announcement was a positive catalyst for Decentraland’s MANA and The Sandbox’s SAND, causing a double-digit price surge.While there’s evidence of positive buying volume supporting the pump, the weak fundamentals of metaverse…

Doodles, a top Web3 brand, is working on acquiring the Golden Wolf animation studio as part of its Web3 ecosystem expansion plan. After the deal is completed, the studio will collaborate with Burnt Toast, the artist whose characters form the basis of Doodles NFTs. The goal is to create content based on an original narrative. Thus, boosting the development of Doodle characters, their stories, and creativity across the board.According to a press release seen yesterday, once everything is finalized, the Golden Wolf’s team will join Doodles. Consequently, bringing in their expertise in animation, visual storytelling, and content creation.The exact numbers…

Yuga Labs’ Bored Ape Yacht Club Sewer Pass has generated over $10M in trading volume less than 48 hours after launch. With some Passes listed for over $640K, this drop is undoubtedly successful. These passes offer access to Yuga Labs’ game Dookey Dash, surprise rewards, and mysterious perks. The best part: you can get your own pass even if you’re not a Bored Ape NFT holder! Bored and Mutant Ape Yacht Club holders can start claiming their Sewer Pass NFTs to play Yuga Labs’ Dookey Dash game! Bored Ape Yacht Club Sewer Pass: What You Should Know It’s a busy…

The New York Department of Financial Services, or NYDFS, has released guidelines on how licensed crypto firms should handle customer assets should they face “insolvency or similar proceeding”.In a Jan. 23 announcement, NYDFS superintendent Adrienne Harris said crypto firms and exchanges operating under a BitLicense — required in New York state — should segregate corporate funds from users’ virtual currency holdings both on-chain and in the “internal ledger accounts” of the company’s custodian. According to the regulator, crypto firms are expected to hold users’ assets “only for the limited purpose of carrying out custody and safekeeping services”:“A [virtual currency entity’s]…

NFT Fractal, the platform for game-related non-fungible tokens (NFTs) developed by Twitch co-founder Justin Kan, is expanding into the Polygon network to boost accessibility. The platform initially launched on the Solana blockchain in December 2021 and raised $35 million in a seed round backed by Andreessen Horowitz, Solana Labs, Animoca, Coinbase Ventures and others. It now hosts dozens of Web3 games, NFTs and tournaments on its site and offers a suite of developer tools to help onboard new creators. The company said in a press release that expanding into Polygon will help it “focus on user acquisition and provide the…