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NFT Marketplace Magic Eden Lays Off 22 Employees as Crypto Winter Deepens
Non-fungible token (NFT) marketplace Magic Eden on Monday announced that it would be laying off 22 members of its staff as part of a "companywide restructuring." "The Hash" panel discusses the latest firm hit by the chills of crypto winter.
Binance CEO: BUSD Is Not Issued by Binance
Binance’s Chief Executive Officer Changpeng “CZ” Zhao distanced himself from the Binance-branded stablecoin BUSD, after regulatory action caused minting to cease. “BUSD is not issued by Binance,” CZ said at a Twitter Spaces on Tuesday. “We have an agreement to let them [Paxos] use our brand, but that's not something that we created.” "The Hash" panel discusses the latest developments and industry implications amid mounting U.S. crypto regulatory pressure.
Russian Troops Receiving Millions in Crypto Donations Despite Sanctions
Russian troops in Ukraine are receiving millions in crypto donations despite being sanctioned for its invasion of Ukraine in February 2022. CoinDesk investigates how crypto donations to Russian troops are flowing. "The Hash" panel discusses crypto's use case as a fundraising tool in times of war and humanitarian crises.
Genesis Publishes Proposed Sale Plan With DCG, Bankruptcy Creditors
Genesis Global Holdco filed for bankruptcy protection last month and unveiled the final details of a proposed plan to sell itself off alongside Genesis Global Trading to help parent Digital Currency Group (DCG) pay off some of the firm's creditors. "The Hash" panel discusses the latest in Genesis' bankruptcy process and what we know so far. DCG is the parent company of Genesis and CoinDesk.
Bakkt to Suspend Consumer App After Two Years, Shifts Focus to B2B Tech Services
Digital asset platform Bakkt's announcement comes amid increased scrutiny from regulators over retail-based platforms in the interest of consumer protection. "The Hash" panel discusses the outlook for Bakkt as part of a larger shift away from retail towards institutional adoption.
DigiDaigaku NFTs' Price Soar on Secondary Market After Super Bowl Ad
DigiDagaku, an NFT project by Web3 gaming company Limit Break, is seeing a pump on the secondary market after airing a $6.5 million ad touting a free mint of its Dragon Eggs collection during Sunday night's Super Bowl. The floor price on OpenSea Monday is hovering around 0.31 ETH, or about $460. "The Hash" panel discusses the potential risks of buying into ads.
AI-Focused Token Interest Spikes in Wake of ChatGPT Popularity
Cryptocurrency tokens utilizing artificial intelligence (AI) technology have been on a tear in the past months, with most tokens up an average of 80% in the past week alone, according to CryptoSlate data. Much of the recent surge in AI tokens emerged after the public launch of chatbot ChatGPT and image generation software Dall-E in mid-2022. "The Hash" hosts discuss the recent rally and what this means for the crypto industry.
PayPal Held $604M in Crypto For Its Customers as of Year-End 2022
PayPal (PYPL) held a total of $604 million of bitcoin (BTC), ether (ETH), litecoin (LTC) and bitcoin cash (BCH) for its customers as of Dec. 31, according to its annual report to the U.S. Securities and Exchange Commission (SEC). The payments company has been allowing customers to buy and sell crypto since October 2020, though it has only recently begun to disclose specific holdings of different coins in its SEC filings. "The Hash" panel discusses what this means for PayPal's crypto ambitions.
SEC Chair Gary Gensler Addresses $30M Settlement with Kraken
U.S. Securities and Exchange Commission Chair Gary Gensler joined CNBC's "Squawk Box," warning other platforms to "take note" of crypto exchange Kraken's move to halt its staking service in the country and cough up a $30 million fine. This comes as SEC Commissioner Hester Peirce said Friday that the SEC did not attempt to consult with the crypto industry before launching this week’s unregistered securities crackdown on staking-as-a-service. "The Hash" panel discusses the latest developments surrounding U.S. crypto regulation.
Rihanna Song Offered as NFT With Royalty Sharing Ahead of Super Bowl
A popular song released by music artist Rihanna was offered as a non-fungible token (NFT) through Web3 music startup anotherblock on Thursday, allowing holders to receive partial streaming royalties. The NFT drop comes ahead of Rihanna's Super Bowl LVII halftime performance on Sunday. "The Hash" panel discusses the latest move bringing together the worlds of crypto, sports, and entertainment.