The Silicon Valley venture capital firm Andreessen Horowitz (a16z) released a report on Tuesday covering the current state of crypto adoption. It highlights Ethereum as the leading blockchain network for developer support but contains very little mention of Bitcoin’s growth. The Potential of Web 3 The VC firm broke boiled down its report into five key takeaways about the current state of crypto. It began by suggesting that the industry is in the middle of its fourth ‘price innovation’ cycle.…

BinaryX developed and released CyberArena, a free-to-play, play-to-earn strategic card game. Gamers may compete to earn rewards while enjoying and experiencing a no-cost game in a new decentralized environment. The team has recently shared an AMA recap on its Medium page. The session gave the public the chance to learn more about CyberArena and the team’s plans. Getting to Know CyberArena CyberArena is a key addition to the BinaryX ecosystem. Being a free-to-play game with substantial prizes, it is a…

The US Federal Bureau of Investigation (FBI) has cautioned businesses against accidentally hiring IT employees from North Korea. In an advisory note, the state and treasury departments and the FBI warned that North Korean hackers are posing as freelancers. In doing so, they take advantage of remote work opportunities to earn money for Pyongyang. According to the FBI, the country’s hackers have been using this approach to evade US and UN sanctions. Reportedly, North Korea has been the funds obtained…

The legal department of Terraform Labs is in shambles following the resignation of key team members. While there are no clear reasons yet behind the slew of resignations, this hasn’t stopped speculations that Terra’s lawyers might have ditched the struggling ship because of financial constraints. Legal Team Abandons Ship According to a spokesperson affiliated with the developers, three attorneys have now left Terra's holding firm. This unfolds about one week after the catastrophic collapse of Terra's stablecoin, UST, and its…

Nansen will offer Web3's analytics super-app for free.   Nansen has acquired the cross-chain DeFi tracker, Apeboard, at an 8-figure price, according to an announcement this Tuesday.  Alex Svanevik, CEO of Nansen, shared this information in a speech he made at the Permissionless conference held in Palm Beach. According to him, the inspiration behind the move was the inconvenience web3 users face in tracking their investments across multiple chains. As of writing, Nansen is yet to reveal the official takeover…

The Bitcoin/ Crypto Fear and Greed Index today shows the most bearish crypto market sentiment since March 2020. The index started showing “extreme fear” across the market last week. Bitcoin collapsed below $30,000 for the first time since July, while the UST stablecoin fell apart. Today, the index reflects a single-digit score of only 8. That’s the lowest number since March 28th, 2020, when it collapsed to the same level due to covid lockdown fears. By contrast, March 28th, 2022…

Nearly a year since the Chinese government initiated a nationwide crackdown on BTC mining, the nation is again a thriving center for mining operations. Albeit this time, secretly. The Cambridge Digital Assets Program (CDAP) provided this information in their latest research.  China Hosts One-Fifth of the Global BTC Hash Rate The CDAP revealed that underground miners within China are responsible for about 21% of the total Bitcoin hash rate globally. Before the ban, the East Asian nation had been the…

Terra co-founder Do Kwon became an industry hero when he promised to buy $10 billion of Bitcoin back in March. Now, he’s become crypto public enemy number one. Two months after the announcement, his blockchain’s dollar-based stablecoin, TerraUSD (UST), has depegged to just $0.15. Meanwhile, Terra’s governance token LUNA has collapsed to absolute zero, destroying investors who HODL’d through its collapse. Kwon and the Luna Foundation Guard fought to defend the peg by selling their Bitcoin reserves to pump UST’s…

It is only natural that the price of BTC changes following whales' transactions. Because altcoins have smaller market capitalizations, this effect is even more pronounced on their prices. The ways whales manage to manipulate the market are inventive and can lead to heavy losses for small traders. In our guide, we look into the matter and reflect on how to protect a wallet against whales. Understanding the Concept of Whales The term "crypto whale" refers to a person or organization…

Kwon unveils another plan to revive ebbing Luna.   On Monday, the Terraform founder and CEO unveiled another plan to save Terra’s sinking ship from extinction. This plan, shared on Twitter, includes forking Terra’s governance coin Luna and making the chain community-owned. What Went Down, Literally In spite of the death blow dealt to both Terra coins recently, the cryptocurrencies continue to find ways to stay alive. Last week, Terra's LUNA dropped from $85 value to less than nothing. Its…