NFT avatar startup Genies valued at $1B following Series C funding round
Nonfungible token platforms incorporating Web3 and the metaverse continue to attract sizable investments from venture capital firms.
Nonfungible token platforms incorporating Web3 and the metaverse continue to attract sizable investments from venture capital firms.
Celsius has been positioned as one of the leading yield-generating CeFi platforms on the market, battling neck-and-neck with other dedicated CeFi platforms such as BlockFi and Nexo. Their positioning is seemingly weakened this week, certainly with retail investors, as the platform sent out an announcement to all users and released a public announcement that new funds supplied – even from existing accounts – into Celsius’ platform would no longer be eligible to earn yield unless they are accredited investors. Let’s look at what we know from today’s release, and the events that have led up to today’s announcement. Celsius & Regulatory Challenges In The States Celsius released an announcement on their company Twitter channel, and founder and CEO Alex Mashinsky offered up a similar thread of information on Twitter. However, neither channel offers much transparency behind the reasoning around the move, which has largely been credited by speculators to be the result of increased SEC scrutiny. 1/ @CelsiusNetwork is launching a Custody solution for our US users and introducing some changes to our services. Read on to learn about what’s changing and why… — Alex Mashinsky (@Mashinsky) April 12, 2022 In the company’s official blog post on the matter, there was also little clarity on the why behind these changes. What we do know is that these changes were unlikely to be made at the behest of Celsius on their own, as the end result is more barriers to entry for retail consumers. It’s unclear the specific needs to be an accreditted investor on the Celsius platform. The company utilizes VerifyInvestor.com, which typically charges $70 per individual for a verification application. While Celsius is apparently eating the cost of verification, will small crypto users be verified? Large questions loom, and it’s likely that many will elect not to even attempt verification. The platform will roll-out it’s ‘Custody’ feature as it’s replacement for swapping, borrowing, and transferring tokens. However, the ‘Earn’ feature was undoubtedly a major drive for Celsius’ existing business. Celsius offers a native platform token to earn boosted rewards, but to date has been unable to offer the token to U.S. users. These restrictions are seemingly progressing this week for United States-based customers. | Source: CEL-USD on TradingView.com Related Reading | Bitcoin Data: Number Of Active Entities Remain In Bear Market Channel A Buildup Of SEC Criticism? Last year, we covered numerous stories of regulatory pressure applied to Celsius, BlockFi and the like. The pressure has largely come on a state-by-state basis, and certainly hasn’t been limited to Celsius. However, it seems that state pressures are still a major factor, as Celsius has specified in today’s report that there would still be limitations on availability surrounding it’s new ‘Custody’ product. Impacts of today’s report are limited solely to U.S.-based users. Where we go from here remains to be seen. Related Reading | How Shiba Inu Soared 20% On Robinhood Listing, Watch Out For Volatility Featured image from Pexels, Charts from TradingView.com The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.
Algorand is known for many things but an actual NFT game in Beta fully operational with your wallet is new. They just released their game and I dove in for about two weeks to tell you what I could find. My intentions are to not shill this game, nor discount the potential comparatively to other’s…
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An Ethereum developer, Virgil Griffith, has been sentenced to five years and three months in U.S. prison after he pleaded guilty to a charge brought on by speaking at a crypto conference in North Korea. According to the U.S. Department of Justice (DOJ), his presentation provided the Kim Jong Un regime with “technical advice on […]
Welcome to the Daily Discussion. Please read the disclaimer and rules before participating. Disclaimer: Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could…
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I still see some comments showing a misunderstanding of what trustlessness means. Yet, trustlessness is a key component of decentralized cryptocurrencies and a reason behind their ruthless efficiency. Notably, it's a key component of Ethereum's success. Most Dapps rely on this. Even the core of Ethereum relies on this. And yet, more and more Dapps…
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submitted by /u/NFLowen [link] [comments]
With the rapid technological advancements, digitalization has witnessed a golden age in the past few years. Concepts we never even heard of are now becoming mainstream. One such example is NFT domains, rising as new web extensions. Quik.com is launching NFT domain names like .doge, .shib, .metaverse, .blockchain, .bored and .vr that are linked to […]
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submitted by /u/Funkoma [link] [comments]