Autor Cointelegraph By Arnold Kirimi

Elon Musk swaps Twitter avatar for a horde of Bored Apes, BAYC floor price surges 10 ETH

Elon Musk swaps Twitter avatar for a horde of Bored Apes, BAYC floor price surges 10 ETH

Uverejnil používateľ | máj 4, 2022 |

Fresh from bidding to Purchase Twitter, Elon Musk, the billionaire CEO and founder of Tesla, sparked a stir on the social media this morning when he changed his profile photo to a collage picture featuring multiple Bored Apes nonfungible tokens (NFTs).Musk’s Twitter avatar as of Wednesday shows a picture featuring a collection of Bored Apes with Ape 5809 stacked in the middle. The NFTs are all from different artists, each with a unique design and serial number.Bored Apes. Source Sothebys.Bored Apes are highly coveted among NFT collectors. So popular that, when Yuga Labs, the company behind the Bored Ape NFT, launched a recent NFT project, gas costs on Ethereum (ETH) soared into the thousands of dollars.The announcement caused a stir in the NFT community, with some saying Elon Musk made a collage of “screenshotted bored apes his profile picture to troll NFT owners.” Others believe Musk is trying to signal his intention to get into the NFT space.Seems like @elonmusk entered NFT world Do you think he will use @TraitSwap to made his Bored Apes more Fancy? https://t.co/G3Xee9SjdD— Fancy Bears Metaverse (@FancyBearsMeta) May 4, 2022Michael Bouhanna, a contemporary art specialist and co-head of digital art at Sotheby’s, was likewise quick to react, sharing a screenshot on Twitter of Musk’s profile. Bouhanna tweeted asking the Tesla CEO to delete the avatar he had designed for Sotheby’s sale, suggesting that Mr. Musk had not acquired the NFTs.@elonmusk as much I admire your work I’d like you to remove your pfp that I created for our Sotheby’s sale. Or you credit me . Happy to send you the original file minted with the buyer approval pic.twitter.com/e83ZyxWGH5— Michael Bouhanna (@michaelbouhanna) May 4, 2022

Elon Musk has since tweeted, “I dunno … seems kinda fungible,” to his 90.7 million followers.Whatever the case, Apecoin (APE) holders were ecstatic, with their tokens increasing 20% in value according to Cointelegraph Markets Pro data. Since the Tesla CEO updated his Twitter profile photo, over 10 Bored Apes have been sold at the time of the article, and the floor price has since risen by 10 ETH.

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Virginian county wants to put pension funds into DeFi yield farming

Virginian county wants to put pension funds into DeFi yield farming

Uverejnil používateľ | máj 4, 2022 |

The Northern Virginia county of Fairfax has already invested a part of its pension funds in crypto and blockchain startups. Now, it’s mulling over deeper involvement with decentralized finance (DeFi) yield farming.The Fairfax County Police Pension System’s chief investment officer Katherine Molnar said on Tuesday at the Milken Institute Global Conference that the system aims to fund two new crypto-focused hedge fund managers in the next three weeks. The next few days will see a decision made, which, if approved, would be the first time pension fund money was used in DeFi.According to Molnar, Fairfax has already committed pension funds to seven crypto allocations across two pension funds, including venture capital funds and one structure that holds early-stage illiquid tokens and later-stage liquid tokens. A different approach to profit from volatility is one of the seven categories. It includes a hedge fund that employs various techniques in cryptocurrency, including yield farming, basis trading and cross-exchange arbitrage.Fairfax County is no stranger to the blockchain and cryptocurrency sector. In 2019, it began investing pension fund cash in cryptocurrencies, with projected returns of 9%. Fairfax’s crypto assets account for approximately 8% of its portfolio in total.The executive issued a statement regarding the agency’s blockchain-related investments, noting that it had invested in the Morgan Creek Blockchain Opportunities Fund. The Employees’ Retirement System (ERS) committed to investing $10 million, while the Police Officers Retirement System (PORS) pledged $11 million. Molnar likened yield farming to a fixed-income replacement or an opportunity for a higher return than rate-sensitive assets.Related: Australia’s Rest Super retirement fund to invest in crypto for its 1.8M membersThe United States took first place on the 2021 Global DeFi Adoption Index. The index tracks countries with the greatest grassroots adoption. To a greater extent, DeFi uptake is strong in high-income countries that already have a significant cryptocurrency use, particularly among traders and institutional investors. The entrance of Fairfax into the market only enhances the case for United States’ DeFi adoption.

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SEC doubles down on crypto regulation by expanding unit

SEC doubles down on crypto regulation by expanding unit

Uverejnil používateľ | máj 3, 2022 |

The United States Securities and Exchange Commission (SEC) announced Tuesday that it would nearly double the number of personnel responsible for safeguarding investors in cryptocurrency markets. As per the announcement, the SEC’s Cyber Unit, which includes the Crypto Assets and Cyber team, will hire 20 new people for 50 dedicated positions.The SEC stated that the 20 hires would include investigative staff attorneys, trial lawyers and fraud analysts. Chair Gary Gensler praised the appointments as long overdue and essential to overseeing one of Wall Street’s newest and most popular sectors.This is welcome news to many who have been concerned about the potential for market manipulation and other fraudulent activities in the crypto space. In recent months, the SEC’s crypto unit “has successfully brought dozens of cases against those seeking to take advantage of investors in crypto markets,” Gensler stated, adding:“By nearly doubling the size of this key unit, the SEC will be better equipped to police wrongdoing in the crypto markets while continuing to identify disclosure and controls issues with respect to cybersecurity.”SEC Director of Enforcement Gurbir S. Grewal said that the majority of crypto-related securities fraud victims are individuals. According to Grewal, cyber-attacks continue to pose an “existential” risk to the U.S. financial system. “The bolstered Crypto Assets and Cyber Unit,” he said, will be at the forefront of safeguarding investors and the broader markets.JOB ALERTToday is the last day to apply for the Division of Enforcement’s Los Angeles Regional Office Supervisory Trial Attorney position. Interested applicants, apply here: https://t.co/nXjXlGvafx#SECGovJobs— U.S. Securities and Exchange Commission (@SECGov) April 27, 2022The announcement comes after nearly eight months of pleading for more personnel. Gensler reportedly told lawmakers that his agency needed much more staff to confront the ever-increasing number of new financial technologies. Related: Congress tells SEC redefining long-standing concepts would be bad for digital ecosystemLast month, Gensler emphasized that the SEC’s protections for investors of traditional assets should also apply to crypto traders. In a “come in and talk to us” approach, Gensler has urged crypto firms with securities to register in order to safeguard investors. The lack of regulatory clarity in the United States, which is affected by various authorities, including the SEC, Commodity Futures Trading Commission and Financial Crimes Enforcement Network, has been criticized by several cryptocurrency firms.

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VanEck enters metaverse with launch of NFT collection

VanEck enters metaverse with launch of NFT collection

Uverejnil používateľ | máj 3, 2022 |

VanEck, an investment firm with over $82 billion in assets under management, revealed its entrance into the Metaverse by releasing a collection of 1,000 nonfungible tokens (NFTs) on Monday.The VanEck Community NFT, which is based on the Ethereum network, features an illustration of Alexander Hamilton called “Hammy” as he journeys through time and space in his quest to understand past, present and future financial policies. The New York-based investment management firm believes it will be able to showcase real-world usefulness for digital assets, as well as provide a forum for investors to learn more about digital assets through the collection. A statement on the announcement reads:“Our character ‘Hammy’ is going to be an outstanding guide for anyone interested in seeing the past, present and future of finance unfold.”The drop will be classified as commons (750), rare (230) and legendary (20). Each NFT owner will be eligible to take advantage of several unique perks based on these three levels. VanEck Community NFT co-founder Matt Barlett said that the initiative is designed to be a digital membership card that would grant unique access to a variety of events and educate users about cryptocurrency assets.It’s here! Launching today, the VanEck Community NFT, the first #NFT offered by a global asset manager. Follow @vanecknft for updates: https://t.co/6Nw7uUqm1i pic.twitter.com/wG5YBdIcz4— VanEck (@vaneck_us) May 2, 2022Related: Yuga Labs’ Otherdeeds NFT mint triggers backlash from communityThe most recent development is less than three weeks after Jan van Eck, the CEO of VanEck, expressed his excitement about the “entire NFT phenomenon.” He reportedly stated that blockchain technology would revolutionize Wall Street, and regulatory difficulties were behind lagging adoption.VanEck has launched several cryptocurrency offerings. Last year, the asset manager made headlines when the SEC rejected its application to establish the first Bitcoin (BTC) spot exchange-traded fund (ETF). However, in November, it launched its Bitcoin Strategy ETF, the first Bitcoin futures exchange-traded fund in the United States.

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Berlin-based football app enters the metaverse following $300M fundraiser

Berlin-based football app enters the metaverse following $300M fundraiser

Uverejnil používateľ | apr 28, 2022 |

OneFootball, a German football media application, has raised $300 million in a Series D round to grow the company’s presence on Web3 and develop new features on its platform.According to a Thursday announcement, OneFootball and NFT-centric Animoca Brands created a joint venture called OneFootball Labs. The new platform will “enable clubs, leagues, federations, and players to provide digital assets and fan-centric experiences based on blockchain technology.” Furthermore, fans will be able to obtain and store virtual collectibles using their email address and credit card.The financing round was led by Liberty City Ventures, with participation from blockchain platforms and venture capital firms, including Animoca Brands, Dapper Labs, DAH Beteiligungs GmbH, Quiet Capital, RIT Capital Partners, Senator Investment Group, and Alsara Investment Group.Animoca Brands will provide its expertise and network in blockchain, NFTs, gaming, and the metaverse to help OneFootball develop new products and services that will increase digital fandom while generating new income streams for the football industry. In a statement, Lucas von Cranach, founder and CEO of OneFootball, said:“We believe the future of football away from the stands and off the pitch will be decentralized and built on Web3, giving back the ownership of data and digital assets to the fans.”Murtaza Akbar, the managing partner at Liberty City Ventures, highlighted OneFootball’s 100 million monthly active users as an opportunity to take advantage of blockchain technology for a massive community of football fans.Related: Penalties and extra time: The scoreboard for soccer club crypto dealsEarlier this year, Cointelegraph noted that increasing interactivity and ownership of virtual items are some of the metaverse’s most outstanding features. OneFootball might be jumping on both the opportunities to provide more fans worldwide greater access to the “beautiful game.”Manchester City, the English Premier League champions, announced their entrance into the Metaverse by signing a three-year agreement with Sony to provide virtual reality to professionals for image analysis and skeletal-tracking technology from Hawk-Eye. Neighbours Manchester United have also entered the Web3 ecosystem after a partnership with Tezos, announced on Feb. 10.

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