Kategorie: Crypto Business

• Fireblocks, Collider and MarketAcross will host the Building Blocks 23 event in Tel Aviv on 7 February 2023.
• The ETH TLV event will feature speakers such as blockchain sceptic Udi Wertheimer and SSV Network CEO Alon Muroch.
• The one-day event seeks to boost Web3 entreprenuership.

Building Blocks 23, a one-day web3-focused event set to bring top together developers and community members in the Ethereum ecosystem, will happen in Tel Aviv.

Details on the 7 February, 2023 ETH TLV event highlight three major Israeli companies as the hosts.

Accordingly, the Building Blocks 23 event will be organised by digital assets focused venture capital fund Collider, blockchain PR and marketing firm MarketAcross, and enterprise-grade crypto platform Fireblocks.

The hosts will collaborate with Israeli-based zero knowledge proof technology provider StarkWare, a press release shared with CoinJournal revealed.

The Who and what of Building Blocks 23

Building Blocks 23 is targeted at forming the foundations of Web3 entrepreneurship and will offer participants access to a series of events – including workshops and panel discussions. The organisers will look to guide representatives of various projects through the process of building successful Web3 businesses.

Among the topics to be covered are fundraising, product marketing, creating a security-first organisation and building teams and communities around projects. Valuable lessons on offer will be the art of building in Web3, mastery of leading protocols, and how to navigate the inevitable market turbulence.

Delegates will also learn from industry leaders on issues such as treasury management, sustainable tokenomics and effective branding.

Udi Wertheimer, a blockchain sceptic and Ethereum expert is on the confirmed list of guest speakers, as is Alon Muroch, CEO of SSV Network. There will also be speakers from across the industry, including from The Graph, Aave, Safe, Avalanche, and Solidus Labs.

The post Fireblocks, Collider and MarketAcross to host Web3 startups event appeared first on CoinJournal.

• Wyre will allow its customers to withdraw only 90% of their funds.

• The company said the move is to allow it to navigate the current market conditions.

• Wyre’s CEO has become the company’s executive chairman.

Wyre sets withdrawal limits for its customers

Cryptocurrency payment platform Wyre announced over the weekend that it had set a new withdrawal limit for its customers. 

While announcing this latest cryptocurrency news on Twitter, the company said the move was to ensure it could navigate the current market conditions.

We are modifying our withdrawal policy. While customers will continue to be able to withdraw their funds, at this time, we are limiting withdrawals to no more than 90% of the funds currently in each customer account, subject to current daily limits.

— Wyre 🔊 (@sendwyre) January 7, 2023

Wyre said its customers could only withdraw 90% of their funds. The company wrote;

“While customers will continue to be able to withdraw their funds, at this time, we are limiting withdrawals to no more than 90% of the funds currently in each customer account, subject to current daily limits”

Wyre added that the move was in the best interest of its community. It added that it is also exploring strategic options that would enable Wyre to navigate the current market environment and deliver on its mission to simplify and revolutionise the global payments ecosystem.

This latest development comes just a few days after the company laid off 75 employees. Similar to other leading crypto companies, Wyre is navigating the current crypto winter by cutting costs in various aspects.

Wyre makes management changes

In addition to the withdrawal limits placed on its customers, Wyre announced a crucial management change within the company.

Wyre announced that CEO Ioannis Gianna has transitioned into a new role as executive chairman. This is part of the major changes to the company’s management structure. 

Stephen Cheng will serve as the interim Chief Executive Officer after serving as the Chief Risk Officer, and Chief Compliance Officer in recent years.

The crypto winter saw Bitcoin lose more than 60% of its value over the last few months. At the moment, the price of Bitcoin stands at $17,200 per coin.

The post Wyre limits withdrawals to 90% of customer funds appeared first on CoinJournal.

• TON Storage is a new file sharing and data storage platform on the TON blockchain.
• An incentivised node ecosystem means users can file and store data for perpetuity.
• Users will utilise smart contracts to pay nodes using Toncoin, the native token on the TON blockchain.

The TON Foundation, the group behind the development of The Open Network (TON) blockchain, has launched a new decentralised file sharing and data solution dubbed TON Storage.

TON Storage works similar to available peer-to-peer file sharing platforms where “torrents” are used. However, it employs the TON blockchain to allow for the decentralised transfer of data and files of any size, doing away with the need for users to utilise centralised servers.

The storage system also means users can enjoy automatically backed up and encrypted file sharing, with an added layer of security provided by the blockchain.

Step towards open internet

According to Anatoly Makosov, a TON Foundation founding member, the official launch of TON Storage has been long overdue.

“This technology can be used by both individual users and services with a multimillion-dollar audience,” he said in a statement. TON Storage is a step towards actualizing the vision of having a decentralised, open internet, he added.

As traditional torrents do not offer guarantee of storage, but with TON Storage, that changes. This is because of an incentivized ecosystem that allows for files to exist virtually forever. To achieve this, the new file sharing and data storage technology will deploy a smart contracts-based node system.

An agreement between a user and a node will see the user pay for file storage using Toncoin – in essence making it possible to store files for as long as possible. Toncoin is the native cryptocurrency of the TON blockchain.

“Anyone can become a node operator on the TON network and receive payments from other users for hosting files – even if operating just one node. The accessibility of this new product will incentivise new, independent users to join the TON network, helping to grow the TON ecosystem even further,” TON Foundation team noted.

The post The TON Foundation launches file-storage solution appeared first on CoinJournal.

• MEXC Venture’s $20 million ecosystem fund targets support for key projects on Layer 1 blockchain Sei Network.
• Sei Network secured $5 million in August from investors such as Coinbase Ventures and Multicoin Capital.
• The platform plans to support 20 dApps as its mainnet launch approaches.

MEXC, a leading Singapore-based cryptocurrency trading platform, has unveiled a $20 million fund aimed at supporting projects on Layer 1 blockchain Sei Network.

In a blog post published on 4 January, MEXC said the fund will be geared towards boosting adoption across the Sei Network ecosystem. 

The platform, which is designed with the need to maximise trading advantages for decentralised exchanges (DEXs) users, is developed by Sei Labs – a team that counts former Robinhood developers, Cosmos OGs and ex-Goldman Sachs finance and strategy members.

Sei Network to support 20 dApps ahead of mainnet launch

Sei Network raised $5 million in August, backed by industry players and other investors including Coinbase Ventures, Multicoin Capital, Delphi Digital and Hudson River Trading. The platform plans to use the new capital injection to support network development as it moves closer to its mainnet launch.

The team will also back 20 decentralised applications (dApps) that are already building on the network.

MEXC is launching the ecosystem fund through its MEXC Ventures, a comprehensive fund that looks to empower innovations within the crypto space via strategic investments. The firm also focuses on M&As project incubation and multi-manager investments.

MEXC Ventures currently holds over $100 million in assets under management and more than 300 portfolio investments.

The post MEXC unveils $20M ecosystem fund to support Sei Network appeared first on CoinJournal.

• Cameron Winklevoss has slammed DCG CEO Silbert for ‘Bad Faith Stall Tactics.’

• DCG-owned Genesis currently owes users of crypto exchange Gemini’s Earn product some $900 million.

• DCG CEO Silbert has denied the accusations. 

Winkelvoss slams Silbert over bad-faith stall tactics 

Cameron Winklevoss, the co-founder of the Gemini crypto exchange, penned an open letter over funds reportedly owed to Gemini Earn customers.

The letter comes after brokerage platform Genesis halted customer withdrawals in November amid the downfall of FTX. Genesis is owned by Digital Currency Group (DCG).

Following the halting of withdrawals, Genesis owes users of crypto exchange Gemini’s Earn product some $900 million. 

Cameron Winklevoss has now called out DCG’s CEO Barry Silbert over what he regards as “bad faith stall tactics.”

Earn Update: An Open Letter to @BarrySilbert pic.twitter.com/kouAviTho4

— Cameron Winklevoss (@cameron) January 2, 2023

Winklevoss stated that DCG and Silbert are deploying evasive tactics in the ongoing saga. The Gemini co-founder wrote that the cryptocurrency exchange has repeatedly tried to find a consensual resolution to the dispute with Genesis and DCG over returning funds to its users. However, Winklevoss claims that Silbert and his companies are not handling the matter with urgency. He wrote that;

“We appreciate that there are startup costs to any restructuring, and at times things don’t go as fast as we would all like. However, it is now becoming clear that you have been engaging in bad faith stall tactics.”

Winklevoss added that Silbert has so far declined to enter into a room with Gemini executives to resolve things. Silbert has also refused to agree to a timeline with key milestones, Winklevoss added. He stated that;

“After six weeks, your behavior is not only completely unacceptable, it is unconscionable. The idea in your head that you can quietly hide in your ivory tower and that this will all just magically go away, or that this is someone else’s problem, is pure fantasy.”

DCG owes Genesis over $1.6 billion

Cameron Winklevoss revealed that DCG owes Genesis $1.675 billion, citing various figures that Silbert shared with investors two months ago. 

There is a $575 million loan due in May 2023 and another $1.1 billion promissory note due in June 2032. 

DCG did not borrow $1.675 billion from Genesis

DCG has never missed an interest payment to Genesis and is current on all loans outstanding; next loan maturity is May 2023

DCG delivered to Genesis and your advisors a proposal on December 29th and has not received any response

— Barry Silbert (@BarrySilbert) January 2, 2023

While responding to this latest cryptocurrency news, Barry Silbert refuted the claims that DCG owes Genesis over $1.6 billion. He added that DCG recently sent a proposal to Genesis and Gemini regarding the issue. Silbert said;

“DCG did not borrow $1.675 billion from Genesis. DCG has never missed an interest payment to Genesis and is current on all loans outstanding; next loan maturity is May 2023. DCG delivered to Genesis and your advisors a proposal on December 29th and has not received any response.”

Winklevoss proceeded to urge Silbert to publicly commit to solving the crisis on or before January 8. However, Silbert is yet to reply to this request. 

The post Gemini’s Winklevoss calls out DCG over “bad faith stall tactics” appeared first on CoinJournal.