🦎🚀 Back to square one 1️⃣

Thursday, April 20, 2023

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Congress Goes Back to Square One

After the United States House Financial Services Committee (FSC) turned their attention to the stablecoin discussions pushed back last year, it seems Congress is "starting from scratch."

Despite a draft bill being rolled out by Republican committee leaders Maxine Waters (D-Calif.) and Patrick McHenry (R-N.C.), Democrats regarded it as outdated.

Calls for incorporating the learnings from the collapse of cryptocurrency exchange FTX and the closure of Silicon Valley Bank, among others.

In today's news, Sotheby to auction off 3AC's Rare NFTs, Call of Duty veterans to launch Web3 game and Coinbase to launch derivatives exchange in Bermuda.

Read on!

Now LIVE: 2023 Q1 Crypto Industry Report 📊

The crypto market woke from its end-2022 hibernation to shake off the bears, increasing 48.9% from a total market cap of $831.8B on Jan 1, 2023 to $1.238T on Mar 31, 2023. While not smooth sailing all the way, losses stemming from FTX's collapse have been reversed, returning the market to heights before the Ethereum Merge – with BTC even posting a 72% gain.

Our comprehensive 2023 Q1 Crypto Industry Report covers everything from the crypto market landscape to analyzing Bitcoin and Ethereum, deep diving into DeFi and NFT ecosystems and reviewing crypto exchanges performance.

Don't miss out on these 6 key highlights and the full report here!

24h Hot Searches Worldwide

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ZoidPay (-10.0%)
Arbitrum (-4.7%)
tomiNet (-7.2%)
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Curve DAO (-2.1%)

What does 'staking' even mean, really?

In this video, let's explore the two main staking types and how they differ! 🔒

Check it out here!

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Gaming Veterans Announces Web3 Game

Production company Gadget-Bot announced that it would be turning its "Kaidro" sci-fi webcomic into a Web3 PC role-playing game.

Co-founders Peggy Chung and Robert Simons come from a stacked background having worked on AAA games like Call of Duty and Apex Legends, and even for hollywood films like "Jurassic World" and "Ender's Game."

The game will be launched on the Immutable gaming ecosystem, and will utilize NFTs for its characters and soulbound NFTs for its battle passes.

Decrypt

Coinbase to the Bermudas?

United States-based cryptocurrency exchange Coinbase announced that it has received a license to operate in Bermuda, and is allegedly launching a derivatives exchange there.

A Class F License under the Digital Asset Business Act allows Coinbase to conduct various activities such as token sales and issuance, digital asset exchange and digital asset derivatives exchange.

The announcement comes after Coinbase CEO Brian Armstrong vocalized on the lack of regulatory clarity from the Securities and Exchange Commission (SEC), driving both investors and trading activity away from the US.

Cointelegraph

Fire Sale!

Fine art auction house Sotheby's announced it will facilitate the sale of rare NFTs seized from the bankrupt hedge fund Three Arrows Capital.

Labeled the 'Grails' collection, the sale will be conducted in chapters across various sales formats, from private sales to auctions, and will be held across multiple locations globally.

Highlights from the collection includes Dmitri Cherniak's Ringers #879, Snowfro's Chromie Squiggle #1780, Tyler Hobbs' Fidenza #216, Larva Labs' Zombie CryptoPunk #6649 and Autoglyph #187.

CoinDesk