Blockchains solve some very specific problems very well, such as handling transactions without a centralized intermediary and allocating and tracking scarce resources in a very efficient and transparent manner. Community membership, however, is about so much more than a transaction, and it is not, in most cases, a genuinely finite resource. And while there’s no reason to … [Read more...] about Metaverse Scarcity Isn’t Real
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Index Coop Isn’t Worried About Enso’s ‘Vampire Attack’
On-chain crypto index fund builder Index Cooperative raised $2.25 million in funding as the decentralized autonomous organization (DAO) prepares to fend off another project’s “vampire attack.”Sequoia Capital India, Blockchain.com Ventures and White Star Capital participated in the funding round. It closed before news broke Tuesday that Enso Finance, a “social trading” … [Read more...] about Index Coop Isn’t Worried About Enso’s ‘Vampire Attack’
What Crypto Lender Celsius Isn’t Telling Its Depositors
In its terms of use, Celsius reserves the right to re-hypothecate customers’ assets, but it’s ambiguous whether the passage refers solely to depositors’ funds or to borrowers’ pledged collateral as well. “In consideration for the rewards earned on your Account and the use of our Services,” the document says, “you grant Celsius the right … to pledge, re-pledge, hypothecate, … [Read more...] about What Crypto Lender Celsius Isn’t Telling Its Depositors
Crypto Isn’t Funny Money. It’s Community
It is not alone. Burger King offered a rewards contest to win either one of 20 bitcoin, one of 200 ether or 1 of 2 million dogecoin, but you needed a RobinHood account to claim the rewards (a marketing partnership at its purest), and it was not very decentralized. Even when Visa bought CryptoPunk 7610 for about $150,000 in August, it barely did much with it beyond a blog post … [Read more...] about Crypto Isn’t Funny Money. It’s Community
The Crypto Industry Isn’t Too Thrilled About Biden’s Big Policy Moves
The U.S. House of Representatives voted to pass the infrastructure bill that contained a provision that shook the crypto world. Financial regulators called on Congress to regulate stablecoins. In other words, crypto had a big week in Washington, D.C.You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to … [Read more...] about The Crypto Industry Isn’t Too Thrilled About Biden’s Big Policy Moves