Tag Archives: Polygon (MATIC)

Financial trading platform eToro issued new guidelines barring US customers from buying four crypto assets that were recently deemed securities by the United States Securities and Exchange Commission (SEC) in lawsuits against Coinbase and Binance. While eToro did not explicitly cite the securities regulator’s action as the reason for the latest changes in its crypto offering, it did emphasize the “rapidly evolving regulatory landscape.” In doing so, eToro joins the likes of...

The Securities and Exchange Commission alleged that some of the largest altcoins, such as ADA, MATIC, and SOL, are unregistered securities. Most assets slumped in value shortly after the allegations went out. Now, though, the organizations between the blockchains and the tokens have published official statements to refute the SEC’s claims. Polygon Responds MATIC traded at $0.9 last week, just a few days before the SEC went after Binance and Coinbase, alleging in the lawsuits...

Arbitrum has managed to rake in a significant market share as demand for Ethereum rollups soars. According to data shared by CoinShares, Arbitrum remains the top destination for capital flows away from Ethereum, among other protocols as well as layer 2s. As of May-end, the network attracted capital worth $4 billion. Closely following Arbitrum is Polygon raking in capital worth $3 billion, followed by Optimism with $983 million, and dYdX with $342 million, the stats revealed....

Growing PoS adoption reflects a glaring shift in the digital asset industry. While Ethereum and layer 2s networks have dominated substantial network activity conversation, Polygon has mostly kept a low profile this year. However, the latest stats show an uptick in the number of new addresses created daily on it. According to the data shared by crypto analyst and trader Ali Martinez, the number of new MATIC addresses created on the Polygon network daily on May 22nd stands at...

Polygon announced that Polygon Bridge is now available for Polygon zkEVM. The development comes a month after the launch of the zero-knowledge rollup on Mainnet Beta. The symbolic first transaction on Polygon zkEVM Mainnet Beta was performed by Ethereum co-founder Vitalik Buterin. Polygon zkEVM Mainnet Beta is designed to be an all-purpose Ethereum scaling protocol that allows developers means to build on it with the usage being similar to Ethereum, without modifying...

In the letter, Polygon’s board requests amendments to Article 30 of the EU Data Act, which the board fears could stifle blockchain development in its current format. The company behind Polygon, a Proof-of-Stake multi-chain blockchain platform around its ERC-20 token MATIC, has sent an open letter to representatives of the EU Parliament regarding Article 30 of the EU Data Act. Unintended Consequences Of EU Policy The EU Data Act, whose main purpose is to break up monopolies...

Polygon Labs announced that it will reduce its team by 20% while stating that the company maintains a robust treasury. Meanwhile, the job cut comes shortly after the firm outlined plans at the end of 2022 to hire more employees. According to a press release on Tuesday (Feb. 21, 2023), Polygon Labs said the 20% slash affected 100 job positions. Part of the announcement read: “Earlier this year, we consolidated multiple business units under Polygon Labs. As part of this...

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The quick downfall of FTX with an $8-10 billion deficit in its balance sheet has left the broader cryptocurrency market reeling under its cascading effects. Besides Proof of Reserves (PoR) and Reserves to Liability (R2L) Ratio data, Indian crypto exchanges, battling low volume caused by high taxation and an unfriendly regulatory environment, have responded to the evolving situation with some fresh initiatives. Polygon CEO’s Self-Custody Buzz Polygon CEO Sandeep Nailwal was...

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