Yuga Labs, the company behind the popular Bored Ape Yacht Club (BAYC) NFT collection, has acquired PROOF, an NFT development firm. This deal gives Yuga Labs control of all PROOF’s assets, including the Moonbirds NFT collection. Yuga Labs to Integrate Moonbirds into Metaverse Project In a blog post, Yuga Labs announced that it plans to…
Background: The US Securities and Exchange Commission (SEC) has yet to approve a spot Bitcoin (BTC) exchange-traded fund (ETF). Industry Letter: On Valentine’s Day, four major banking industry groups sent a joint letter to SEC Chairman Gary Gensler, advocating for the approval of spot BTC ETFs and requesting a modification to a 2022 law (SAB…
Internet Computer (ICP), a cloud-focused Web3 altcoin, has emerged as the most actively developed crypto project in recent weeks. According to analytics firm Santiment, ICP recorded an impressive 466.9 GitHub commits in the past 30 days, surpassing all other projects. Santiment’s methodology excludes routine updates, ensuring that only “true” development activity is counted. Key Players…
Market Sentiment: A Flawed Indicator Crypto trader Michaël van de Poppe believes that sentiment is not a reliable indicator in market analysis. He cites recent examples where extreme optimism led to corrections, such as the one that followed Bitcoin’s ETF approval. Van de Poppe warns that emotions can cloud judgment and lead to poor trading…
Cardano (ADA), a rival to Ethereum, has seen a dramatic increase in its total value locked (TVL) in the final quarter of 2023. TVL Growth According to crypto analytics firm Messari, Cardano’s TVL reached an all-time high of $449 million on December 14. This represents a 166% increase from the previous quarter and a staggering…
Cybercriminals are increasingly using cross-chain bridges to launder illicit funds, according to Chainalysis. Laundering Tactics Evolve In 2023, the amount of crypto received by bridge protocols from illegal sources surged by 138% to $743.8 million. This suggests a shift in money laundering tactics, with criminals moving away from exchanges and towards bridges and mixers. Lazarus…
Whale’s Big Move A whale has been buying up Ethereum (ETH) and selling Wrapped Bitcoin (WBTC) on the Aave protocol. On February 16th, they borrowed $14.6 million worth of WBTC and bought 5,150 ETH. Reasons for the Switch It’s unclear why the whale is making this move, but Ethereum has been outperforming Bitcoin in recent…
Background VanEck, an investment firm known for its Bitcoin ETFs, recently settled with the SEC over charges related to a lack of disclosure. The Issue In 2021, VanEck launched the Social Sentiment ETF (BUZZ), which tracked an index based on social media insights. However, the SEC found that VanEck failed to disclose: The involvement of…
Upcoming Upgrade Uniswap, a popular decentralized exchange, is set to upgrade to its fourth version (v4) in the third quarter of 2024. This upgrade will follow Ethereum’s Dencun update, which is expected to roll out in March. Phases of the Upgrade The upgrade will be implemented in three phases: Phase 1: Code freeze, completion, testing,…
