Ftx Bought New Computer Do i Have to by Sofrware Again

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Last calendar week (31 January - 4 February) was another hot week in the world of Blockchain & Cryptocurrency. In fact, it might exist the hottest week this year... Nosotros volition hence look at Solana launching Solana Pay to go head-to-head confronting Apple Pay & the likes; FTX acquiring Liquid to build a digital asset trading powerhouse; how a convicted scammer is leading a popular DeFi protocol, and other interesting news and developments.

Without further ado, let the states swoop into what has happened in Blockchain & Crypto sector final week. Let's connect the dots.

Solana launches Solana Pay to become against Apple Pay & the likes? 👀

The news 🗞 Solana Labs co-developed new open-source software, dubbed Solana Pay , that enables merchants to accept crypto payments through the Solana network.

The USP 🥊 Solana Pay works with any Solana-native (SPL) token and does not charge a commission on payments. Customers only need to pay Solana network fees, which take historically been beneath ane/100th of a penny.That's not besides shabby!

The adoption 👉 Checkout.com, Circle, and Citcon currently support Solana Pay and ecosystem wallets Phantom and Slope.

✈️ THE TAKEAWAY

Opportunities & risks.Piddling to know fees obviously sound corking, but can this be enough for Solana Pay to brand a difference in consumer payments? Every bit with Qlub, we once more go back to consumer habits. That'south the biggest struggle, and since it's crypto-related, the adoption might be slightly harder. Furthermore, we too take to call up nearly the merchants that might enable this pick, and their country of play is a flake complicated. Plugging into Solana Pay through a 3rd-political party like Checkout.com, they might pay a minimal service accuse. That could be a blocker. Looking at the bigger moving picture, 1 must note that Solana has seen its fair share of hiccups lately. Continued network slowdowns could set up dorsum their overall and Solana Pay vision, though the potential to penetrate the B2B market also every bit leverage their Solana-native USDC, is definitely worth watching.

FTX buys crypto commutation Liquid to further build digital asset trading powerhouse 🤯

The news 🗞 Crypto giantFTX has acquired Japanese crypto substitutionLiquid Group to serve Japanese customers through its new subsidiary, CoinDesk reported.

The deal is expected to close in March, according to a printing release on Midweek. The companies did not disclose the acquisition value. In Apr 2019, Liquid's valuation was over $1B.

The USP 🥊For the starters, let's accept a quick refresher on FTX.

Though it was only founded in 2019, FTX quickly has established itself as the third-largest global crypto commutation. More surprisingly, FTX was the fastest-growing crypto exchange last year: its trading volume spiked by 600%, outstripping its closest competitor Huobi by over 200%.

Its trading volume at present merely trails first- and 2d-place Binance and Coinbase.

FTX'due south user base has also grown by 60% since Oct, while average trading volume ticked upwardly forty%.

Investors have hence rewarded its impressive growth with several mega-rounds: it netted some $1.8B across 3 raises over the last half-dozen months.

A history 👉It'south important to notation that FTX & Liquid already have a history. The Japanese substitution lost over $90M in a hack in August 2021, afterward which FTX gave it a $120M loan. FTX will now integrate its products and transfer all existing Japanese users to Liquid. The user transfer will take effect on March xxx.

Merely what'due south adjacent for the FTX? Read the takeaway:

✈️ THE TAKEAWAY

Further focus on expansion & growth 🚀We must remember that the Liquid acquisition comes almost immediately after FTX has closed its $400M Series C round on Monday at a $32B valuation. Information technology only illustrates that the company now has deep pockets that volition assistance it finance further growth and a large-scale marketing push button to offset the global slowdown in crypto-trading volume. We tin can also remember that earlier FTX too acquired Quoine, one of xxx exchanges registered with Japan's Financial Service Agency (FSA), which holds a Blazon I Financial Instruments Business license for trading securities and derivatives. Looking at the bigger movie, slightly harsher market place weather in crypto are most ideal for companies like FTX that can have advantage past acquiring smaller players while scooping upward their client bases and applied science.

Bedevilled scammer is leading a popular DeFi protocol?! 🤯🤯🤯

The news 🗞 A co-founder of the doomed crypto exchangeQuadrigaCX has been helping to run a decentralized finance protocol chosenTime Wonderland.

Michael Patryn had also previously pleaded guilty to credit card fraud, burglary, grand larceny, and computer fraud — and had spent 18 months in U.Southward. federal prison. It has now emerged that he is0xSifu, and was serving as the treasury director for Wonderland, which is based on the Avalanche blockchain.

More on this 👉 Wonderland'southward co-founder Daniele Sestagalli has now asked him to step down from this position — and admitted that he had known about Patryn'south past for a month, writing in a weblog post:

"I am of the opinion of giving 2nd chances, equally I have mentioned on Twitter. I've seen the customs very divided most my selection of maintaining him as the treasury manager after finding out who he was and his past."

Freefall 📉 The bombshell has wreaked havoc on the value of Wonderland'due south token Time, which has plunged by57%in the by seven days. Overall, it has lost nearly 95% of its value since ATH.

✈️ THE TAKEAWAY

Risk vs. Advantage.The contempo developments and findings of Wonderland yet again illustrate how nascent is the decentralized finance space in general. Everybody likes massive APYs, nevertheless few do proper research to evaluate the risks and unlock the potential blood-red flags. Furthermore, this also shows how risky is the overall DAO space, particularly when in that location are little to no DAO mechanisms in place (i.eastward. Fourth dimension is primarily controlled by its co-founders). Zooming out, these and similar developments leaves many questioning the DeFi industry every bit a whole.

Extra Reads & Quick Bites for Curious Minds🧠

• New crypto fund 💸Reddit co-founder raises $500M fund for crypto startups. 776 Management, the VC firm endemic by Reddit co-founder Alexis Ohanian, has raised $500M for two new funds primarily focused on crypto. The Wall Street Periodical reported the news on Tuesday, with a annotate from Ohanian that crypto "volition be the majority of the portfolio by the end of this year."
• Modular staking 🤔 Avalanche-based decentralized exchange (DEX) Trader Joe introduced modular staking, a arrangement that gives token owners three different means of staking their holdings. Participants tin can now stake their JOE tokens for Rocket Joe (rJOE) to get liquidity provider (LP) tokens for new project launches. The platform volition besides implement a boosted yield veJOE pick and a trading fee-generating sJOE by the cease of Feb.
• Visa is crypto-strong 💪 Payment networkVisa showed resilience in cross-border spend, and tap-to-pay gaining in fundamental markets. Along the manner, consumer spending on debit and credit cards has continued into the current quarter. As for cryptos, management noted on the call that in that location are over 65 crypto platforms and exchanges that are partnered to issue Visa credentials. This quarter, per Visa stats, Visa credentials and crypto wallets had more ii and a half billion in payments book, which is already 70% of the crypto-related payments book for all of fiscal 2021.

Money Moves💸

• Ethereum analytics platformDune Analytics raised $69.42M at a $1B valuation to expand to other blockchains and add boosted tooling.
• Polkadot parachainAstar Network raised $22M to fund geographical expansion. The network allows developers to earn tokens for building smart contracts and infrastructure.
• Yuga Labs, the startup behind the Bored Ape Yacht Lodge (BAYC) NFT collection is allegedly in discussions with a16z to fundraiseat a valuation of up to $5B.

Continue reading by subscribing to Linas's Newsletter.  You will receive fresh news nigh FinTech, Blockchain & Crypto with hot takeaways every twenty-four hour period.

P.S. You might enjoy my before pieces as well:

👉 Bitcoin in 2021: a story in v graphs, and what might come in 2022

👉 A Wise pitch deck that led to London's biggest and most successful straight list e'er

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About: I am a business concern developer, sales professional person, FinTech strategist, as well equally Cryptocurrency and Blockchain enthusiast. I'thousand highly passionate about Financial Technology and Digital Innovation, and strongly believe that it volition change the world for the better. Apart from my daily chore at a global payments startup where I'k leading the company's expansion into Europe, I'thou an active member of the FinTech customs and a TechFin evangelist.

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