BLOCKCHAIN

What is necessary for Web3 to fully replace Web2?

[ad_1] Web3 is the buzzword that's on everyone's lips — but when you put the mania aside for a moment, there's a burning question that needs to be asked: Can these projects fully replace Web2… and what stands in the way of this happening? The likes of Google and Facebook have made a killing during the Web2 era, amassing billions of dollars in profits and a profound influence over the shape
Business

FTX reportedly considers bailing out Celsius via asset bid

[ad_1] Crypto exchange FTX, led by crypto billionaire Sam Bankman-Fried (SBF), is reportedly considering bailing out Celsius Network by bidding on the bankrupt lender’s assets. Coincidently, the information came out the same day Alex Mashinsky resigned as the CEO of Celsius. “I regret that my continued role as CEO has become an increasing distraction, and I am very sorry about the difficult financial circumstances members of our community are facing,” said
Business

BTC price stays under $19K amid hopes Q4 will end Bitcoin bear market

[ad_1] Bitcoin (BTC) hit new weekly lows into Sep. 28 as risk asset drawdown continued overnight.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewTrader: "First new lows" before Q4 recoveryData from Cointelegraph Markets Pro and TradingView showed BTC/USD falling to $18,461 on Bitstamp, down almost $2,000 versus the previous day’s high. The change of direction came in lock step with stocks, which turned red after initially heading marginally higher at the Wall
Business

Napoleon Dynamite cast reunites in Web3 animated series, Sega’s blockchain game and more…

[ad_1] The main cast from the cult-classic film Napoleon Dynamite are reuniting for an animated series which will be released through blockchain technology. According to a Sept. 27 report from Hollywood news outlet Deadline, the stars from Napoleon Dynamite have all signed on to voice characters in CyKo KO, an animated rendition of Rob Feldman’s comic book bearing the same name, with a 12-minute pilot to launch on Web3 streaming
BLOCKCHAIN

BIS marks CBDC pilot as ‘successful’ with $22M transacted

[ad_1] A multi-jurisdictional Central Bank Digital Currency (CBDC) pilot has been marked “successful” by the Bank for International Settlements (BIS) after a month-long test phase that facilitated $22 million worth of real-value cross-border transactions.The central banks of Hong Kong, Thailand, China and the United Arab Emirates (UAE) took part in the pilot program along with 20 commercial banks from those regions.More than $12 million worth of value was issued onto
BLOCKCHAIN

Reject CBDCs and look to BTC and stablecoins instead

[ad_1] U.S. think tank Bitcoin Policy Institute is calling for the United States to reject Central Bank Digital Currencies (CBDCs) and look to Bitcoin (BTC) and stablecoins as alternatives. In a whitepaper shared on Sept. 27, authors including Texas Bitcoin Foundation executive director Natalie Smolenski PhD, and former Kraken growth lead Dan Held argue CBDCs would strip the public of financial control, privacy and freedom. #CBDCs don’t solve any problem. They
Business

DeFi needs appropriate regulation before expanding to retail

[ad_1] United States Federal Reserve chairman Jerome Powell has spoken out about the expansion of decentralized finance (DeFi) and its impact on the traditional finance ecosystem, calling for appropriate regulation.During an event titled the “Opportunities and challenges of the tokenisation of finance” hosted by the Banque de France on Sept. 27, Jerome Powell said there were “very significant structural issues around the lack of transparency” in the DeFi ecosystem.The comments
Business

Pantera CEO bullish on DeFi, Web3 and NFTs as Token2049 gets underway

[ad_1] Pantera CEO Dan Morehead highlighted the potential growth and value of Decentralized Finance (DeFi), Web3 functionality, nonfungible tokens (NFTs) and Metaverse applications in his opening keynote speech at Token2049 in Singapore.Thousands of attendees converged on Wednesday at the Marina Bay Sands Convention Center for the start of the two-day conference which features prominent speakers from the cryptocurrency and blockchain ecosystem.Pantera, a blockchain-focused investment fund with $4.5 billion of assets
BLOCKCHAIN

Wintermute inside job theory ‘not convincing enough’ —BlockSec

[ad_1] Blockchain security firm BlockSec has debunked a conspiracy theory alleging the $160 million Wintermute hack was an inside job, noting that the evidence used for allegations is “not convincing enough."Earlier this week cyber sleuth James Edwards published a report alleging that the Wintermute smart contract exploit was likely conducted by someone with inside knowledge of the firm, questioning activity relating to the compromised smart contract and two stablecoin transactions
Business

Christie’s moves on-chain with NFT auction platform on Ethereum

[ad_1] After a series of successful high-priced nonfungible token (NFT) sales, Christie’s has launched its own dedicated NFT "on-chain auction platform," allowing auctions to be carried out fully on-chain on the Ethereum network. The 256-year-old British auction giant, which is also the second-largest auction house in the world by fine-art auction revenue, said its “Christie’s 3.0” allows for NFT auctions to be conducted entirely on the ETH network “from start