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Polymesh Announces $25M Developer Grant Program, Avalanche Commits $290M in Avax for New Projects
Polymesh, a securities-focused blockchain, has announced a $25 million developer grant initiative to encourage security token projects on their network, and meanwhile, Avalanche committed $290 million to grow gaming, DeFi, and NFT “subnets.” “The Hash” discusses these incentivized initiatives for developers and how money is allocated in the crypto and blockchain space.
FinCEN Includes Crypto in Alert on Potential Russia Sanctions Evasions, President Biden to Sign Executive Order on Crypto
While the war between Russia and Ukraine continues, concerns regarding Russian use of cryptocurrency to circumnavigate economic sanctions have been affirmed by FinCEN in a recently issued alert. “The Hash” discusses the current state of crypto regulation as President Joe Biden plans to sign an executive order on the crypto industry following new sanctions on Russian oil imports.
Prolific Developer Andrew Cronje Leaves DeFi Behind
Decentralized finance developer Andrew Cronje, known for his work with Yearn Finance, will be leaving the crypto industry following a Twitter announcement from a close associate of his. As dozens of tokens tumble in price following this news, “The Hash” discusses the role Cronje played in the DeFi ecosystem.
Hive Blockchain to Buy Intel Mining Chips That Could Increase Hashrate by 95%
Mining firm Hive Blockchain has agreed to purchase Intel’s new mining chips, claiming that they can increase its aggregate bitcoin mining hashrate by as much as 95%. “The Hash” discusses the significance of Intel’s entry into the crypto space and what it means for the larger conversation about ESG concerns vocalized by politicians like Sen. Elizabeth Warren.
Metaverse Fashion Means Business: Pantera and Polychain Invest $10M In Space Runners
Space Runners, a metaverse fashion brand focused on NFTs, has raised $10 million in an investment round led by Pantera Capital and Polychain. “The Hash” explores possible use cases of digital wearables in the metaverse while considering potential business models and prospective audience for these assets.
Griffin Gaming Partners Raises $750M for Web 3
Gaming-focused venture capital firm Griffin Gaming Partners has announced a new fund of $750 million that has already logged 16 investments related to Web 3. “The Hash” team discusses the longstanding tension between the gaming community and the crypto space while looking at the possible ways to integrate digital assets in games through features like tradable skins.
Charles Schwab to Offer First In-House Crypto ETF to Clients
“The Hash” discusses why Schwab Asset Management is preparing to offer its first in-house crypto product, the “Schwab Crypto Economy,” recognizing that client demand for entry points into the cryptocurrency space is increasing among investors.
How Shake Shack Is Trying to Capture Younger Consumers by Offering Bitcoin Rewards
In a promotion intended to attract younger customers, burger chain Shake Shack is offering customers 15% back in bitcoin on any purchase made with Cash Card, a debit card available to Cash App users.
Venezuela’s Maduro Announces 18-Fold Increase to Minimum Wage, Pegged to Official Cryptocurrency
According to a Bloomberg report, Venezuela President Nicolas Maduro announced a 18-fold increase in Venezuela’s monthly minimum wage to roughly 126 bolivars ($28) by pegging it to the value of half a petro, the government’s cryptocurrency being the petro (PTR).