Autor Cointelegraph By Sam Bourgi

Aave founder Stani Kulechov briefly suspended from Twitter after joking about becoming interim CEO

Aave founder Stani Kulechov briefly suspended from Twitter after joking about becoming interim CEO

Uverejnil používateľ | apr 28, 2022 |

Aave (AAVE) founder Stani Kulechov was temporarily suspended from Twitter this week, mere hours after joking that he was joining the social media company as interim CEO.“BREAKING: Joining Twitter as interim CEO,” Kulechov tweeted on Tuesday in a post that was intended as a joke. The tweet was timestamped at 2:48 pm PST (9:48 pm UTC). The following day, the Aave founder’s account was suspended, a spokesperson confirmed to Cointelegraph. The spokesperson also confirmed that it was Kulechov’s first suspension on the social media platform and that he had not received any prior warnings. Aave founder Stani Kulechov has been banned from Twitter after joking about being Twitter’s interim CEO. pic.twitter.com/TXYnR6SKdz— Wu Blockchain (@WuBlockchain) April 28, 2022“Twitter, recently bought by Elon Musk, has chosen to suspend my account,” Kulechov said in a statement, adding that the move underscores the dangers of centralized ownership of content creation. The ban lifted Thursday afternoon, with Kulechov tweeting that he’s “back as interim CEO” of the social media company. I’m back as interim CEO of @twitter— stani.eth (,) (@StaniKulechov) April 28, 2022

Kulechov’s suspension appears ill-timed for Twitter after billionaire Elon Musk confirmed earlier this week that he had an agreement to acquire the company for $44 billion. By taking Twitter private, Musk intends to promote free speech by creating a “digital town square” where everyone can express their views. ♥️ Yesss!!! ♥️ pic.twitter.com/0T9HzUHuh6— Elon Musk (@elonmusk) April 25, 2022

It’s not entirely clear whether tweeting about becoming Twitter’s CEO violates the platform’s terms of service or its new free speech mandate. The comment appears to fall in line with Musk’s conception of free speech, which simply means speech that “matches the law,” he clarified on Tuesday. By “free speech”, I simply mean that which matches the law. I am against censorship that goes far beyond the law. If people want less free speech, they will ask government to pass laws to that effect.Therefore, going beyond the law is contrary to the will of the people.— Elon Musk (@elonmusk) April 26, 2022

Related: ‘Keep Your Coins’ bill introduced to restrict government control of cryptoFreedom of speech and the ability to dissent from prevailing cultural narratives have become hot-button topics since the onset of COVID-19. The pandemic, some argue, allowed governments and media outlets to marginalize those with opposing views. The debate around dissent and expression was front and center in February after the government of Canada froze the bank accounts and crypto wallets of individuals involved in funding local protests.

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Propy partners with Abra to provide crypto-backed real estate loans

Propy partners with Abra to provide crypto-backed real estate loans

Uverejnil používateľ | apr 28, 2022 |

Blockchain real estate platform Propy has partnered with Abra to allow customers to obtain home loans using their cryptocurrency holdings, potentially widening the financial use cases of digital assets. Propy customers can now put up digital assets as collateral for their real estate purchases through Abra Borrow, a cryptocurrency lending and borrowing service. Crypto collateral pledged on Abra is used to borrow United States dollars that can then be applied to home purchases. The Propy blockchain records the entire transaction process, serving as the technical and legal framework for buyers and sellers. According to Propy, the blockchain records the transaction whether it’s made in crypto, nonfungible tokens (NFT) or traditional fiat currency. Abra is a crypto-focused wealth management platform that has been around since 2014. The platform allows users to generate yield on their crypto, borrow dollars against their holdings and trade digital assets. Abra has received backing from several major companies, including Amex Ventures, the venture capital arm of American Express, which contributed to its $55 million Series C funding round in September 2021. While early crypto investors have generated significant wealth over the years, their access to traditional financial products such as mortgages remains limited. Decentralized finance, or DeFi, applications are attempting to fill the void. As Cointelegraph reported, a new homeowner in Austin, Texas recently purchased property through a mortgage obtained from USDC.homes, a crypto loan service based on Circle’s USD Coin (USDC).If you’re buying a home in the future, you’ll probably be using NFTs. Here’s how crypto is changing real estate in the meantime. https://t.co/jiLT9Uojvd— Cointelegraph (@Cointelegraph) February 19, 2022Related: Web3 solutions aim to make America’s real estate market more accessibleFintech startup Milo is also offering crypto mortgages to homebuyers wishing to use their Bitcoin (BTC) as collateral. Meanwhile, decentralized mortgage lender Bacon Protocol launched a program in September 2021 that allows homeowners to exchange a lien on their property for an NFT that represents a percentage of the property they bought.

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Grayscale to expand crypto fund offering into Europe

Grayscale to expand crypto fund offering into Europe

Uverejnil používateľ | apr 27, 2022 |

Digital asset manager Grayscale Investments is planning to expand its product offerings into Europe to tap into growing institutional demand for cryptocurrencies in the region, CEO Michael Sonnenshein confirmed Tuesday.In an interview with Bloomberg, Sonnenshein said the company was holding meetings with local partners to discuss how Grayscale’s suite of products would be rolled out in the region. The company hasn’t made any definitive plans regarding which exchanges and countries would be supported initially, though Grayscale plans to launch pilot tests in several markets across the European Union. Sonnenshein explained that Grayscale would be looking at investor behaviors and local regulations in determining its product rollout. “Although the EU is unified, we don’t view the entire European market as in fact one market,” he said. “Instead we’re going to be very thoughtful, very methodical about each of the financial centers and financial hubs that we ultimately launch in.”Grayscale is by far the world’s largest crypto fund manager, with over $35.7 billion in assets under management as of Monday. The Grayscale Bitcoin Trust, which trades under the ticker symbol GBTC, has amassed nearly $25.8 billion in assets. Meanwhile, the recently launched smart contract fund that excludes Ethereum already has more than $3.7 million under management. Here’s a look at our 14 single asset crypto investment funds as of 4/25/2022.AUM and other stats on all Grayscale products are updated daily on our website: https://t.co/1WBt5qD8Zo$BAT $BCH $BTC $ETC $ETH $FIL $LINK $LPT $LTC $MANA $SOL $XLM $ZEC $ZEN pic.twitter.com/ELHwldtB7r— Grayscale (@Grayscale) April 25, 2022Related: Institutional investment flows out of ETH and into competing L1 altcoinsGrayscale has been trying to convert its flagship GBTC product into a spot exchange-traded fund, something that the United States market currently lacks. Grayscale has expressed a willingness to take legal action against the Securities and Exchange Commission should it deny its application. As Bloomberg noted, the European market has over 80 crypto exchange-traded products, including 60 that were launched before 2022.

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Ethereum scaling solution Optimism upgrades governance structure

Ethereum scaling solution Optimism upgrades governance structure

Uverejnil používateľ | apr 26, 2022 |

The Optimism Foundation has unveiled a new governance structure and token as part of its ongoing efforts to bring scalability and cost efficiency to Ethereum (ETH), the world’s largest smart contract platform. The “Optimism Collective” was introduced Tuesday afternoon in a lengthy post that outlined its mission and governance mandate. Described as a “large-scale experiment in digital democratic governance,” the Optimism Collective essentially comprises a band of communities and stakeholders committed to improving Ethereum’s technical capabilities. According to the details, the Optimism Collective will be governed by two components: the Citizens’ House and the Token House. The Citizens’ House will “facilitate and govern a process to distribute retroactive public goods funding” via revenues collected by the network. The Token House, which will be established through forthcoming airdrops, is tasked with voting on protocol upgrades and project incentives. The Token House, to be powered by Optimism’s new governance token OP, will be responsible for overseeing protocol and network parameters as well as creating incentives for users to enter the ecosystem. Ethereum is ready for its next chapter.We are ready to scale not only Ethereum (the network), but also the values that thrust it onto the global stage in the first place.The Optimism Collective is here to reconstruct the incentives of the internet — Optimism (✨_✨) (@optimismPBC) April 26, 2022The Optimism Foundation said in its post that the blockchain community’s “calls for scalability are deafening,” referring to the growing demand for fast and efficient smart contract functionalities. This demand is being answered by several layer-1 competitors, all of which succumb to centralization flaws while abandoning “Ethereum’s security and values,” the foundation said, adding:“Scaling the technology alone is not enough. We have a duty to scale our values along with our networks.”Related: ‘People should invest in all of the major layer-1s,’ says a veteran traderWhile Ethereum continues to dominate the developer scene, its competitors are growing at a faster clip, according to a January report by crypto research firm Electric Capital. The report found that developer activity is growing for projects such as Polkadot (DOT), Solana (SOL) and BNB Smart Chain (BNB), which could potentially eat away at Ethereum’s dominance. Meanwhile, Ethereum’s share of the decentralized finance (DeFi) market, as measured by total value locked, has also declined considerably over the past 12 months, according to DeFi Llama. Ethereum still accounts for more than half of DeFi TVL, but its dominance has weakened. Source: DeFi LlamaAs Cointelegraph reported, progress toward Ethereum’s proof-of-stake upgrade is underway, though delays have pushed out the implementation timeline by several months. On April 11, Ethereum developers implemented the network’s first-ever “shadow fork” to stress test their assumptions surrounding the upcoming merge.

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Crypto Biz: The Web3 arms race is upon us, Apr. 14-20, 2022

Crypto Biz: The Web3 arms race is upon us, Apr. 14-20, 2022

Uverejnil používateľ | apr 22, 2022 |

“Web3” used to be an empty industry buzzword that described the next iteration of the internet. In 2022, Web3 is still an annoying buzzword, but at least the blockchain community is trying to assign it real-world utility. This week’s Crypto Biz newsletter features several major funding rounds dedicated on building the Web3 economy. After reading through the stories, you can decide whether we’re actually getting closer to defining Web3 or not. Oh, and remember all the buzz surrounding Special Purpose Acquisition Companies, or SPACs? A crypto-focused SPAC just closed an initial public offering on the Nasdaq, raising $115 million in the process. Framework Ventures allocates half of $400M fund to Web3 gamingRemember DeFi Summer 2020? Well, venture capitalists are gearing up for Web3 Summer 2022. That should certainly help numb the crippling pain of 2021’s Summer of Wyckoff. Framework Ventures is certainly anticipating big things for the space. This week, the venture firm announced that it would invest $200 million of a new $400 million fund in Web3 gaming projects. Now for the hard part: How do they identify the next Axie Infinity? Framework was an early investor in Chainlink, Aave and The Graph, so it knows how to spot gems very early. KuCoin-backed companies launch $100M Web3 developer fundI used to associate KuCoin with endless shitcoin listings, but the exchange is a lot bigger than I thought. Not only does KuCoin have its own venture arm, but it’s also rolling out a new NFT marketplace called Windvane. KuCoin Ventures and Windvane have co-launched a $100 million “Creators Fund” to help fund — you guessed it — Web3 projects. If we’re going to be technical about it, the Creators Fund wants to target NFT startups that are contributing to the development of Web3. Projects at the intersection of art, sports and GameFi are all eligible to receive funding. Crypto exchange CoinDCX raises $135M funding to support Indian Web3For all the uncertainty surrounding India’s cryptocurrency laws, the country is becoming quite the hotbed for digital asset investing. This week, local exchange CoinDCX became India’s first crypto-centric business to complete a Series D funding round, raising $135 million to support various Web3 initiatives. While it’s not entirely clear how the funding will be used, CEO Sumit Gupta said India has the opportunity to become a leader in the Web3 economy. Gupta also told local news outlets that Web3 will only add to India’s financial system.Crypto-focused SPAC raises $115M in Nasdaq IPOA SPAC by the name of Aura FAT Projects Acquisition Corp recently launched its initial public offering (IPO) on Nasdaq, raising $115 million with a focus on crypto industry assets. The IPO was actually oversubscribed by $15 million, which tells you all you need to know about the institutional appetite for all things crypto. Aura FAT is eyeing strategic acquisitions in the blockchain sector, focusing on Web3 (there it is again), digital ledger technology (DLT), e-gaming assets and crypto more generally. Wait until you read about the SPAC’s geographical presence.Don’t miss our portfolio reveals!What does your crypto bag look like? In this week’s The Market Report, Cointelegraph analysts revealed their crypto holdings. Full disclosure: I’m a hardcore Bitcoiner because I believe Bitcoin (BTC) is the best monetary alternative we have in the age of rapidly inflating fiat. But, my fellow analysts Jordan Finneseth and Benton Yuan have a much different take. You can watch the full replay below. [embedded content]Crypto Biz is your weekly pulse of the business behind blockchain and crypto delivered directly to your inbox every Thursday.

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