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☆ Crypto startup Edge & Node's newly named interim CEO has a plan to make Web3 easier for software developers to build in
▼ + stars: | 2022-10-12 | by ( April Joyner | ) www.businessinsider.com time to read: +4 min

Edge & Node, the startup behind the Web3 protocol The Graph, has a new interim CEO, Brandon Ramirez. The same goes for the developers seeking to build decentralized apps, or dapps, as they're commonly called. Companies such as the decentralized-finance startups Sushi and Lido and the crypto research startup Messari have used The Graph for their development. Like many blockchain developers, Ramirez earned his programming chops in enterprise software. Ramirez, Tal, and Pohlmann founded The Graph in 2018 to help create some of that basic infrastructure.

☆ Crypto investors still haven't priced in the upside from the Ethereum merge, JPMorgan says
▼ + stars: | 2022-10-11 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Excitement around the merge has already faded, but the long-term benefits Ethereum will reap from the technical upgrade have yet to be realized, according to JPMorgan. The merge refers to a technical transition meant to improve its security in a way that lowered energy consumption by almost 100%. One of the most attractive potential outcomes of the merge for investors, a smaller supply of ether, hasn't quite arrived yet, but JPMorgan says it's still early. While the ether supply has continued to increase since the merge, it has slowed to a di minimis pace, Worthington said. "We believe that the Ethereum Merge could be a big factor in terms of increasing the use cases for blockchain into new areas, including financial services," Worthington said, highlighting decentralized finance and NFTs.

☆ Google selects Coinbase to take cloud payments with cryptocurrencies and will use its custody tool
▼ + stars: | 2022-10-11 | by ( Jordan Novet | ) www.cnbc.com time to read: +4 min

Google said Tuesday that it will rely on Coinbase to start letting some customers pay for cloud services with cryptocurrencies early in 2023, while Coinbase said it would draw on Google's cloud infrastructure. Over time, Google will allow many more customers to make payments with cryptocurrency, Zavery said. Google had previously indicated in May that it was exploring the possibility of adding support for payments with digital currencies. Blockchain technologies such as nonfungible tokens, or NFTs, have become a bigger focus for Google's cloud division. Previously, Google's cloud chief, Thomas Kurian, has pushed for growth in major industries such as media and retail.

☆ Grammy-nominated DJ Steve Aoki told us he's made more money from NFTs than royalties. Here's how he says he's profited $10 million — and how Web3 can disrupt the multi-billion-dollar music industry.
▼ + stars: | 2022-10-11 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +5 min

Aoki was "shocked and excited" when he realized he made more from NFT sales than music royalties. NFTs can disrupt the music industry by creating a new revenue stream for artists, Blau previously told Insider. "This could facilitate a change that I've been waiting to see for most of my career as an independent artist," Blau said of tokenized music royalties. NFT earnings vs music royaltiesThe 2X Grammy-nominated artist says he's made more from NFTs than a decade of music royalties, Decrypt first reported. Aoki touts Web3, or the metaverse, as a chance for artists to truly own their work via the blockchain.

☆ Everything you want to know as OPEC+ agrees to cut oil production
▼ + stars: | 2022-10-06 | by ( Hallam Bullock | ) www.businessinsider.com time to read: +7 min

OPEC+ agreed to cut production. But the group — which includes Saudi Arabia, the United Arab Emirates, and Russia — agreed Wednesday to slash daily oil production by 2 million barrels, in a bid to send crude prices higher. But OPEC+ defended their decision, saying it was in response to "uncertainty that surrounds the global economic and oil market outlooks." At a news conference after the meeting, the Saudi energy minister added: "We would rather be pre-emptive than be sorry," the New York Times reports. The country's deputy prime minister, Alexander Novak, said the EU's plan could lead to Russia temporarily cutting oil production further — a move that would see crude prices rise, and gasoline follow.

☆ I binge-listened to tech podcasts for a week, and what I learned about Silicon Valley is kind of scary
▼ + stars: | 2022-10-04 | by ( Adam Rogers | ) www.businessinsider.com time to read: +19 min

2: The hosts don't know what they don't knowThe problem is, VC podcasts don't stick to the core issues of venture capital. 3: The hosts want us to believe what they don't knowThere's a shocking amount of this kind of drivel on the tech podcasts. This is what a good tech podcast should do: Use access to the best and most successful investors and innovators to illuminate the way Silicon Valley works. But that's not what matters in the world of tech podcasts. But after 40 hours of listening to tech podcasts, I feel kind of bad about it.

Kardashian, who is reportedly worth $1.8 billion, agreed to pay $1.26 million to settle the charges over a promotion on Meta 's Instagram for EthereumMax's crypto asset, the SEC said. She will also cooperate with an ongoing investigation, and has agreed to not promote crypto securities for three years, the regulator added. Kardashian had already felt regulatory heat over her EthereumMax promo, which she posted on Instagram in June of last year. She started the post by asking her approximately 250 million Instagram followers, "ARE YOU INTO CRYPTO??? Her failure to disclose the payment was a violation of federal securities laws, the SEC said.

☆ Robinhood partners with USD Coin issuer to bring first stablecoin
▼ + stars: | 2022-09-28 | by ( ) www.reuters.com time to read: +2 min

Sept 28 (Reuters) - Robinhood Markets Inc (HOOD.O) said on Wednesday it has joined forces with crypto firm Circle to provide customers the option to buy and sell stablecoin USD Coin (USDC) on the brokerage's platform. The addition of USDC brings the total number of assets available to buy and sell through Robinhood Crypto to 17, and is the first stablecoin listed on the app, the company said. USDC, which is principally issued by Circle, is the second largest stablecoin with over $50 billion in circulation today. Robinhood's partnership with USDC comes amid a crypto rout and a collapse of major stablecoins in recent months that drew intense scrutiny. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Mehnaz Yasmin in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ Ether Cryptocurrency Falls After ‘Merge’ Software Upgrade
▼ + stars: | 2022-09-27 | by ( Paul Vigna | ) www.wsj.com time to read: 1 min

The price of the cryptocurrency ether has fallen 19% over the past two weeks as Ethereum miners sell their holdings in the wake of a much-hyped software upgrade dubbed “the merge.”On Tuesday evening, ether’s price was $1,324, a decline of less than 0.1% from Monday.

☆ EXCLUSIVE: Microsoft's venture arm led this Web3 startup's $20 million funding round. Check out the 14-slide pitch deck the company used to raise.
▼ + stars: | 2022-09-27 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +3 min

Space and Time, a Web3 startup, announced a $20 million funding round on Tuesday. Check out the 14-slide pitch deck the startup used to raise in this Insider exclusive. Space and Time, a decentralized data platform, secured a $20 million raise, led by Microsoft's venture arm. Check out the 14-slide pitch deck the startup used to raise in this Insider exclusive. Space and TimeSpace and TimeSpace and TimeSpace and TimeSpace and TimeSpace and TimeSpace and TimeSpace and TimeSpace and TimeSpace and TimeSpace and TimeSpace and Time

☆ Crypto parties are still raging in the bear market. Here's what it's like at Mainnet, where tickets cost $2,100 and attendees network on yachts.
▼ + stars: | 2022-09-24 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

Crypto enthusiasts, Web3 founders, and investors convened at Messari Mainnet in New York City this week. The tone was firmly upbeat, despite bitcoin, ether, and other digital assets struggling through a bear market. "The bear market just means more building"Nathani, like a dozen other attendees I spoke to this week, is shrugging off the crypto winter and is increasingly upbeat about what comes next. "The bear market just means more building," Brandon Rochon, lead data scientist at Covalent told Insider. Those who have been in the crypto space for long enough, he said, understand the next wave of crypto adoption is still coming, whether the economy is choppy or not.

☆ Ether is down almost 20% since the merge. Here’s what’s going on
▼ + stars: | 2022-09-23 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

Twice during the week, as bitcoin dipped below the $19,000 level, ether hovered at $1,300 (about 70% below its all-time high). Many expected the merge to be a buy-the-rumor/sell-the-news event, and there are growing concerns in the crypto community about the post-merge Ethereum. Ahead of the merge, many investors were buying spot ether and shorting ether perpetual futures , in order to get tokens of the "forked" version of Ethereum for free, without the ether price exposure. Growing concerns Ahead of the merge, there were two main concerns the crypto community had begun exploring. "It looks like Ethereum Classic has been the main beneficiary post merge," JPMorgan's Nikolaos Panigirtzoglou said in a note this week.

☆ The S&P Global exec in charge of the firm's DeFi efforts breaks down Wall Street's biggest hurdles to institutional adoption of crypto
▼ + stars: | 2022-09-23 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +3 min

Chief DeFi Officer at S&P Global, Chuck Mounts, spoke at the Messari Mainnet conference on Thursday. Mounts says institutional capital will flood into crypto once there's more regulatory clarity. In recent years, Wall Street giants have made progress in offering crypto and its related products to their clients. S&P Global Ratings has followed in line with the other financial giants, who've signaled interest in crypto. In terms of policy, Mount says, these include both clear and educated regulation and legislation in crypto.

☆ Here's what Ethereum's Merge means for investors who want to generate extra cash flow from crypto staking, according to 2 industry experts
▼ + stars: | 2022-09-21 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +7 min

Industry analysts have predicted that this upgrade could triple current Ethereum staking yields. Here's how staking will change in light of Ethereum's Merge — and what that means for returns. There's another reason the Merge was so important, Perfumo told Insider — eventually, it will single-handedly increase the total market cap of staked crypto assets from 25% to 30% to over 50%. Because Ethereum validators also earn gas fees, higher transaction volumes mean a higher yield. But since these exchanges effectively manage custody of a user's assets, Perfumo emphasized the importance in choosing a trusted exchange to minimize counterparty risk.

☆ The crypto bear market will continue if bitcoin confirms its recent breakdown below $20,000, Fairlead's Katie Stockton says
▼ + stars: | 2022-09-21 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The crypto bear market is likely to continue if bitcoin confirms its recent breakdown below $20,000, according to Fairlead Strategies. "Negative long-term momentum is growing per the monthly MACD histogram, allowing long-term oversold conditions to be absorbed. "Short-term momentum has shifted negative per a new daily MACD 'sell' signal, increasing risk as long-term support is tested." Another bad sign for the crypto market as a whole is the fact that bitcoin is once again outperforming ether on a relative basis since early September. Until then, expect the crypto bear market to continue.

☆ How SkyBridge founder Anthony Scaramucci is navigating the world between traditional and digital assets — plus his favorite coins and hedge funds for the tough market environment
▼ + stars: | 2022-09-21 | by ( Laila Maidan | Alyson Velati | ) www.businessinsider.com time to read: +7 min

A survey conducted by the Alternative Investment Management Association (AIMA), showed that about one-third of traditional hedge funds are investing in digital assets. Approximately one-third of the panel discussions revolved around digital assets, according to SkyBridge Capital's Anthony Scaramucci. And while some funds may still be grappling with the question of how much exposure they should allocate to digital assets, Scaramucci is pedaling forward. Long term, he believes in the appreciation of digital assets, and he's willing to pay the price of absorbing the volatility in the meantime. The pivot to digital assetsSkyBridge has pivoted heavily into crypto and blockchain technology from its traditional hedge fund of funds business.

☆ A former Point72 portfolio manager turned crypto CIO breaks down why Ethereum's Merge is not a bullish enough catalyst for a market rally right now
▼ + stars: | 2022-09-21 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +4 min

Travis Kling is the chief investment officer at crypto asset management firm, Ikigai. The ex-Point72 portfolio manager says crypto markets won't rally until macro conditions recover. The exec breaks down why Ethereum's Merge is not a catalyst for an immediate bull run. Travis Kling, the CIO of crypto asset management firm Ikigai, says the upgrade isn't a catalyst for an immediate bull run or even rally. Although, the Merge is "the most significant catalyst in crypto history" traditional makes are in "turmoil," Kling says.

Institutional crypto lending involves lending cryptocurrencies as well as cash in return for a yield. Unsecured lending has become common across the crypto industry, according to the review of filings and the interviews. Crypto research firm Arkham Intelligence put the figure in the region of $10 billion, for instance, while crypto lender TrueFi said at least $25 billion. BULLISH ON BORROWINGWhile Blockchain.com has largely pulled back from unsecured lending, many crypto lenders remain confident about the practice. Sid Powell, co-founder and CEO of unsecured crypto lending platform Maple, said institutional crypto lenders were more cautious after Three Arrows' insolvency, but conditions have since normalized and lenders are now again comfortable lending unsecured.

The Ethereum blockchain's mega-upgrade finally went live on Sept. 15, moving it to a less energy-intensive "proof of stake" (PoS) system with hardly a hiccup. Some crypto investors are now turning their attention to the next event that could shake up prices. It would allow validators, who have deposited ether tokens on the blockchain in exchange for a yield, to withdraw their staked coins, to hold or sell. Longer-term, though, the switch to PoS is expected to decrease the rate at which ether tokens are issued - potentially by up to 90% - which should drive up prices. Additionally, annual yields of 4.1% for staking ether tokens to validate transactions could prove tempting for investors.

☆ Ether drops 15% since major Ethereum network upgrade as traders take profits and fret over rate hikes
▼ + stars: | 2022-09-20 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Ethereum underwent a huge network upgrade called the merge which proponents say will make transactions much more energy efficient. Following the merge, ether prices have dropped following a huge run up ahead of the event. Ether has fallen more than bitcoin since the cryptocurrency's underlying technology, the Ethereum network, underwent a huge upgrade called the merge. The merge is an upgrade to Ethereum that changes the validation mechanism for transactions from a proof-of-work method to proof-of-stake. Ahead of the network upgrade, the price of ether roughly doubled from the lows of the year in June, far outpacing bitcoin's gains.

☆ Nasdaq bets big on digital assets despite crypto turmoil
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterThe Nasdaq logo is displayed at the Nasdaq Market site in Times Square in New York City, U.S., December 3, 2021. REUTERS/Jeenah MoonSept 20 (Reuters) - Nasdaq Inc (NDAQ.O) is placing a big bet on the cryptocurrency market, with the launch of a digital assets business that is aimed at tapping institutional investors. The new unit, Nasdaq Digital Assets, will offer custody services for cryptocurrencies, including bitcoin and ethereum, potentially pitting it against firms such as Coinbase (COIN.O), Fidelity Digital Assets and Winkelvoss twin-owned Gemini that offer similar products. Bitcoin has crashed nearly 60% this year, driving companies such as Celsius Network and Voyager Digital Ltd to file for bankruptcy. Register now for FREE unlimited access to Reuters.com RegisterReporting by Mehnaz Yasmin in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ Nvidia unveils new gaming chip with AI features, taps TSMC for manufacturing
▼ + stars: | 2022-09-20 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

Nvidia Corp CEO Jensen Huang holds one of the company's new RTX 4090 chips for computer gaming in this undated handout photo provided September 20, 2022. But the company's roots are in graphics chips, which still provided 59% of its $26.9 billion in revenue in its most recent fiscal year. The new Lovelace chips use AI to improve video game graphics. Computing what each pixel on the screen should look like is hard, so Nvidia chips use AI to predict how some pixels should look without doing the entire set of computations. The Lovelace chips have extended that technique to generate entire frames of a game using AI.

☆ Crypto’s bear market is unlike others before it. This time the Fed's steering the ship
▼ + stars: | 2022-09-20 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +17 min

In any other year, the bitcoin price would have skyrocketed after the BlackRock announcement, but it didn't. Bitcoin hit its all-time high on Nov. 8, less than a week after the Fed first introduced the tapering . "Bitcoin OGs want to believe that it's a risk-off asset – that's a long-term trajectory," said Burak Tamac, senior researcher at CryptoQuant. It's bitcoin that's received so much hostility about being environmentally unfriendly, but myths about the cryptocurrency's environmental impact are slowly being debunked . Beyond bitcoin, crypto remains just a little too out of reach for many.

☆ Treasury warns against Russia's efforts to evade sanctions with crypto
▼ + stars: | 2022-09-20 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

Russian President Vladimir Putin could use cryptocurrencies to evade U.S. and other sanctions launched against the Kremlin for its unprovoked invasion of Ukraine, a Treasury official told lawmakers Tuesday. Warren said she'd been concerned about the possibility of cryptocurrency being used by Russian elites to bypass sanctions since the country invaded in February. The Treasury Department has already identified Russian entities attempting to circumvent sanctions with crypto. Treasury issued its first-ever sanctions on these "mixers" in May and sanctioned another, "Tornado Cash," in August. Coinbase's chief legal officer, Paul Grewal, told CNBC that the sanctions set "a dangerous precedent," but Rosenberg called them effective.

U.S. One dollar banknotes are seen in front of displayed stock graph in this illustration taken, February 8, 2021. World stock markets remained on edge and the dollar maintained its firm tone, given expectations that the Fed would maintain its aggressive tightening path to contain uncomfortably high inflation. We do not think the Fed will hike 100 basis points this week, but the potential is still real," he added. The New Zealand dollar fell to its lowest level since May 2020 of US$0.5933, and was last at US$0.5937 . The Canadian dollar fell to its lowest level in almost two years at C$1.3324 per U.S. dollar .

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