Blockchain Financial News

The DAO that governs privacy-focused blockchain Secret Network (SCRT) has voted to restructure its Secret Foundation as a non-profit with a “transparent operation,” according to the proposal’s official page.

On Feb 10, cryptocurrency exchange Binance announced a major upgrade to its proof-of-reserves verification system, saying it would now incorporate zk-SNARKs — a cutting-edge technology Binance reports will allow it to verify its reserves in a more secure, transparent manner.

What captivates many creators in the realm of blockchain and Web3 is the possibility to create, own and earn without intermediaries, and nonfungible tokens (NFTs) have emerged as a catalyst in how it could be possible. 

In the latest episode of NFT Steez, Thomas Webb, the founder of the interoperable avatar game Worldwide Webb, discusses the integration of interoperability in Web3 and the Metaverse. 

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On Feb. 8, Cointelegraph released its annual Top 100 list of the most impactful heroes and villains for 2023. The list is being released in batches of 10, counting down the top players in the crypto space based on their actions and headlines in 2022 and their expected impact for 2023. So far, Cointelegraph has released numbers 81–100.

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Climate change has become a hot topic in recent years, and the transition to a green economy has become even more critical. One such area to cut down on human greenhouse emissions is in the mobile vehicle segment.

Mining is the process of extracting valuable minerals, metals and other resources from the earth. This may entail extracting minerals from underground deposits or from the earth’s surface. The minerals and resources extracted through mining are used for a wide range of purposes, including energy production, construction and manufacturing.

Access to and use of financial services, known as financial inclusion, is crucial for economic growth and development. Unfortunately, a large portion of the population, particularly in developing nations, still lacks access to basic banking services. The World Bank estimates that 1.4 billion adults worldwide are without access to these services, which limits economic opportunities and perpetuates poverty.

Despite its ongoing crackdown on crypto, China continues to embrace blockchain technology — up to the point of launching the National Blockchain Technology Innovation Center in the capital city of Beijing. 

The sudden collapse of what was once the second-largest crypto exchange in the world has accelerated the migration from centralized exchanges (CEXs) to decentralized exchanges (DEXs). The now-bankrupt FTX still owes the equivalent of billions of dollars to users across the globe, and this is not the only instance of traders losing their funds with CEXs. The benefits of self-custody wallets and the use of decentralized finance (DeFi) applications have become more evident.

South Korea announced its first independent sanctions related to cryptocurrency thefts and cyber attacks against certain North Korean groups and individuals.

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

Bitcoin has been on a steady decline for a while now. It was trading near $23,000 early today and has been on a steady decline ever since. It was trading at $21,800 during the US session. Despite this, now is not the time to panic and sell your crypto holdings. 

Deposit tokens are transferable tokens issued on a blockchain by a licensed depository institution which evidence a deposit claim against the issuer.Because the tokens are commercial bank money embodied in a new technical form, they sit comfortably as part of the banking ecosystem, subject to the regulation and supervision applicable to commercial banks today, say the authors.In their token form, commercial bank deposits can bring a number of technical advantages to payments and transaction settlement including programmability, 24/7 transferability, as well as faster and more direct fund flows between counterparties. Basak Toprak, global product head, digital tokens, Onyx by JP Morgan, says: “The digital money landscape is still emerging and various types of digital money will compete to serve different use-cases.

Ethereum co-founder and crypto entrepreneur Joseph Lubin is confident that Ether (ETH) won’t be classified as a security in the United States.

According to data from DefiLlama, Ethereum staking service Rocket Pool reached $1 billion in total value locked (TVL) on Feb. 9. The move comes less than two years after the decentralized finance (DeFi) protocol launched its mainnet on Nov. 9, 2021. Dubbed a liquid staking solution for Ethereum, Rocket Pool allows users to join an Ethereum decentralized node operator or run their own node.

Craig Wright, the Australian computer scientist and self-proclaimed Satoshi Nakamoto, has had a copyright claim for Bitcoin rejected by a London court, with the judge saying the subject matter “is not expressed or fixed anywhere.”

A survey of 81 nonfungible token (NFT) collections on the Ethereum blockchain showed a sharp overall loss in market capitalization in 2022, according to a report from DappRadar released Feb. 9. Losses were not even distributed, however.