Network Financial News

On 17 March, Uniswap announced it would deploy on Avalanche and add support for AVAX. Being one of the leading decentralized finance (DeFi) protocols, the deployment of Uniswap could significantly impact Avalanche in terms of transaction volume and Total Value Locked (TVL).

The Readiness Working Group, an organization formed by the Helium community recently released an update on the status of its migration to Solana. HNT crashed further following the news and here’s why.

The El Salvador government has announced the launch of new university courses in Bitcoin (BTC) and Lightning Network development.

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Privacy-oriented blockchain platform Aztec is preparing to shut down Aztec Connect, the network’s privacy infrastructure serving as the encryption layer for Ethereum.

Binance NFT, the non-fungible token (NFT) arm of the popular cryptocurrency exchange Binance, has announced the inclusion of the Polygon network as one of the supported blockchains in its marketplace. The move is part of Binance's efforts to expand the NFT ecosystem within its community and allow users to trade NFTs on various blockchains like Ethereum, BNB Smart Chain, and now Polygon, using their Binance accounts.

Decentralized finance (DeFi) saw a record inflow from centralized exchanges as crypto users flocked to self-custody solutions following the FTX collapse. Over 100,000 Bitcoin (BTC) left crypto exchanges so investors could avoid third-party custody. True to the “not your keys, not your coins” mantra of Bitcoin, DeFi solves a wide array of problems associated with centralized entities.

Hedera network users and developers experienced a rough time on Thursday (9 March) due to network downtime. This is the first time that the network has experienced such an event. Nonetheless, it joins the likes of the Solana network which has experienced numerous such incidents in the past including a recent event.

Meta, the parent company of Facebook and Instagram, is reportedly creating a separate text-based content app that will support ActivityPub. ActivityPub is a decentralized social networking protocol that powers Mastodon and other decentralized apps that compete with Twitter. 

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The bankrupt cryptocurrency lender, Celsius Network, is reportedly pursuing more bids and exploring new buyers despite having an offer on the table. 

Tokyo, March 8th, 2023 –  Blockchain innovation hub Astar Network has partnered with Shibuya, the Tokyo ward famed for its commerce and finance. The agreement will see Astar support Shibuya’s new Web3 initiative and host events that support this strategy.

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Binance NFT, the nonfungible token (NFT) arm of crypto exchange Binance, has announced that the Polygon network has been included in its supported blockchains within the marketplace. 

Silvergate Capital Corp said on Friday it made a «risk-based decision» to discontinue the Silvergate Exchange Network, its crypto payments network, two days after the digital asset-focused bank raised doubts about its viability. "Effective immediately Silvergate Bank has made a risk-based decision to discontinue the Silvergate Exchange Network (SEN). All other deposit-related services remain operational," Silvergate said in a statement posted on its website. The Silvergate Exchange Network, one of the bank's most popular offerings, enabled round-the-clock transfers between investors and crypto exchanges, unlike traditional bank wires, which can often take days to settle. Silvergate shares on Friday slumped more than 2% in after-hours trading, after closing up 0.9% at $5.77 in regular trade. The shares on Thursday had fallen to a record low, ending the day down more than 97% from their all-time high in November 2021.

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Brian Armstrong, CEO of Coinbase, has suggested that the company’s upcoming layer-2 blockchain network Base may be launched with transaction monitoring and anti-money laundering controls.

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TBD, a subsidiary of Block, has announced the launch of c=, a new initiative that aims to improve the Bitcoin Lightning Network. c= is a new endeavor that aims to improve the Bitcoin Lightning Network. The Lightning Network is a layer 2 payment network that aims to make Bitcoin transactions quicker, cheaper, and more reliable. Its primary function is to reduce the fees associated with Bitcoin transactions. From its inception, the network has been subject to unplanned expansion, with the acceptance of its services in the real world being the primary driver of its liquidity and capacity.

Coinbase chief executive Brian Armstrong has hinted that the firm’s new Layer-2 blockchain network Base may be subjected to transaction monitoring and anti-money laundering measures at launch.