The numbers represent a 74% decrease from peak levels witnessed just ten months ago. According to game statistics site Activeplayer, the average monthly number of users playing monster-battle nonfungible tokens (NFT) game Axie Infinity has fallen to 701,447, representing levels not seen since January 2021. At its peak, monthly Axie Infinity players hit 2.78 million...Continue Reading

Kim Kardashian disclosed that she was paid for promoting Ethereum Max — but didn’t tell her followers the exact amount. The SEC did the right thing when it fined her for that oversight. In June 2021, Kim Kardashian published an Instagram story informing her approximately 330 million Instagram followers about the EthereumMax (EMAX) crypto token....Continue Reading

The Web3 platform will focus on expanding its team globally and onboarding several more blockchains in the upcoming months. Nxyz, a Web3 platform enabling data infrastructure for blockchains, secured $40 million in Series A funding led by venture firm Paradigm with additional participation from Coinbase Ventures, Greylock Partners and Sequoia Capital. Angel investors also participated,...Continue Reading

The advocacy group alleged OFAC “exceeded their statutory authority” in sanctioning Tornado Cash because the mixer was a “privacy tool beyond the control of anyone.” United States-based crypto policy advocacy group Coin Center has followed through with its intention to take the Treasury Department’s Office of Foreign Asset Control, or OFAC, to court over sanctioning...Continue Reading

Racing league Formula One is positioning its brand in Web3 as it files trademark applications for “F1” covering crypto and NFTs. In this week’s newsletter, read about how the racing brand Formula One is planning to position itself in Web3 and how nonfungible tokens (NFTs) will transform betting on upcoming athletes. Check out how GameFi...Continue Reading

The Solana DeFi protocol suffered a $117 million exploit on Oct. 11, and the hacker wants 70M USDC in “bug bounty.” On Oct. 12, one day after $117 million was drained from Solana DeFi platform Mango Markets via a price feed exploit, the hacker responsible for the attack demanded a settlement. The proposal was filed...Continue Reading

Tokenomics aimed at financing worthless models, rampant hacks, and a lack of real-world utility have played a role in the beleaguered crypto market’s decline. Decentralized finance (DeFi) led cryptocurrency’s rapid growth in early 2021, but the crypto market has since plummeted in value. Global markets have played a role, but so has recklessness among developers...Continue Reading

All crypto exchanges must register with IIROC if they want to operate in Canada, and there is currently a backlog of applications. Coinsquare, Canada’s longest-operating crypto asset trading platform, announced on Oct. 12 that the Investment Industry Regulatory Organization of Canada (IIROC) had approved its dealer registration and IIROC membership. This regulatory status will now...Continue Reading

Bitcoin and most altcoins are likely to witness a pick in volatility following the CPI print on October 13. The United States Federal Reserve has been aggressively hiking rates in an attempt to cool down inflation and that has kept the U.S. equities markets under pressure. Investors have been watching the inflation figures closely for...Continue Reading

The head of the Wyoming-based bank was taken aback when BNY Mellon was approved to provide crypto custody services; her bank’s master account application is still not processed. Custodia Bank founder Caitlin Long had a strong reaction to the news that BNY Mellon has launched a digital custody platform for Ether (ETH) and Bitcoin (BTC)...Continue Reading