Tag Archives: AA News

Despite the ups and downs of the crypto market, the Web3 and the NFT gaming industries continue to attract the attention of business leaders who are betting on technological innovation to push the whole ecosystem forward. On February 24, Trip Hawkins, one of the founders of Electronic Arts (EA), announced he was joining the Web3 gaming startup Games for a Living (GFAL) as co-founder and chief strategist. GFAL develops a set of tools that allow the development of Web3 games....

There has been a tremendous transformation in the Bitcoin mining landscape since. Different countries have become the new harbors of miners. One European country has emerged as the world’s largest hash rate producer per capita. Owing to cheap electricity, Iceland is one of the first countries to see industrial-scale Bitcoin mining. According to Bitcoin mining researcher Jaran Mellerud, the country’s entrepreneurial locals can also be attributed to the growth of the sector....

The Solana-based Wormhole Bridge was hacked for $325 million after the attacker managed to exploit a security flaw, making it one of the largest exploits in crypto history. A year later, a group of white hats, along with two crypto firms, launched a “counter-exploit” against the malicious entities and clawed back a portion of stolen assets tied to the exploit. “Counter Exploit” The counter exploit was jointly conducted by the decentralized finance platform Oasis and Web3...

A recent report by the Bank of International Settlements (BIS) revealed that the crypto industry lost over $650 billion after two major scandals that rocked the market last year. The report titled “Crypto Shocks and Retail Losses” explained investors’ trading behavior during and after the scandals, their profits and losses, and the effects of the crypto market turmoil in the broader financial system. Retail Investors Bought the Dip Last year, the crypto space saw a lot of...

Block (formerly known as Square) – an American multinational technology conglomerate founded by Jack Dorsey – disclosed $1.83 billion of bitcoin revenue generated from its Cash App payment service in Q4, 2022.  The figure was nearly $2 billion in the fourth quarter of 2021, and the company blamed the decline of the crypto market for the downturn. However, Block’s shares climbed nearly 7% after reporting positive overall financial results. BTC Revenue Drops 7% YoY Block’s...

Indian crypto exchange WazirX has wound up its NFT marketplace operations with immediate effect. Currently, the WazirX NFT site displays a message to this effect.  WazirX NFT Sunsetted “The WazirX NFT marketplace has been sunsetted. You can still trade your NFTs on OpenSea,” the message reads.  In a statement on its site, Wazir said despite creating a “safe and secure” marketplace, the business “did not gain much traction.”         “NFTs are decentralized, and owners have...

Coinbase launched its own Layer-2 blockchain yesterday, built in collaboration with Optimism in its OP stack. The new Layer-2 blockchain, named Base, will host many of Coinbase’s on-chain products and offer EVMs at low costs to developers. Piggybacking on Recent News Unfortunately, opportunistic bad actors are once again trying to make a quick buck off of the success of other firms. Not even a day after Base was launched, Solidus Labs announced via their Token Sniffer website...

U.S. President Joe Biden nominated Ajay Banga to be the new leader of the World Bank – an executive who’s been critical of the crypto industry in the past.  Banga is expected to take over David Malpass as president by May.  The New World Bank President As detailed in a White House statement on Thursday, Banga is currently the Vice Chairman of growth equity firm General Atlantic and was formerly the President and CEO of Mastercard.  “Ajay is uniquely equipped to lead the World...

The reality TV star – Kim Kardashian, the boxing legend – Floyd Mayweather, and other celebrities filed a motion to a California federal judge, asking their renewed EMAX lawsuit to be removed.  The magistrates dropped a similar indictment against the defendants in December last year. Urging for a Dismissal Kim Kardashian, Floyd Mayweather, Paul Pierce, Jona Rechnitz, and Giovanni Perone requested the California Central District Court to drop the amended charges, alleging that...

Bitcoin (BTC) sank back to $23,000 on Friday shortly after the Personal Consumption Expenditure (PCE) price index registered a 5.4% annual increase, and a 0.6% monthly increase, in January. The higher-than-expected figure means the Federal Reserve’s war against rising inflation will likely continue.  Bitcoin started at roughly $24,000 on Friday, staying above $23,800 until about 13:30 UST – when January’s PCE figure was released.  The asset tumbled after that, falling as low...