Bybit closes down additional Web3 services following NFT marketplace shutdown

Bybit Halts Operations of Four Additional Services Following Closure of NFT Exchange In the wake of the closure of its NFT exchange, Bybit has made the decision to shut down four more services. The popular crypto trading platform announced that it would be discontinuing these services to focus on other areas of its business. Bybit, [...]

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SEC Closes Investigation into Yuga Labs, Trump Seeks NFT Marketplace Trademark: Exciting News in Nifty Newsletter

The US Securities and Exchange Commission (SEC) has ended its investigation into Yuga Labs, the creators of the popular Bored Ape Yacht Club NFT collection. This news comes as a relief to the NFT community, as it signals a shift towards more clarity and understanding of the regulatory landscape surrounding digital assets. In other NFT [...]

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Bitcoin Dump Owner Loses Appeal, Cites Final Legal Resort

A British citizen who mistakenly threw away a hard drive containing Bitcoin worth over $300 million has lost his appeal in the UK court. The man, James Howells, had been seeking permission to search a landfill site for the discarded hard drive, but the court ruled against him. Howells claimed that he accidentally disposed of [...]

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Former Treasury Official Warns of Complete Economic Implosion if US Dollar Loses Global Reserve Currency Status

Former Assistant Secretary for Public Affairs for the U.S. Department of the Treasury Monica Crowley has warned of “catastrophic” consequences if the U.S. dollar loses its status as the world’s reserve currency. “That would mean the end of the U.S. dollar,” she said, predicting that “there would be a complete implosion of the global economic [...]

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Verichains discloses critical blockchain security vulnerabilities | Invezz

Verichains, a leading blockchain security firm, has identified significant blockchain security vulnerabilities. In an urgent public advisory to projects in the ecosystem, the Verichains team said the vulnerabilities relate to IAVL proof verification and spoofing attacks in Tendermint Core and Cosmos. Specifically, the security risks relate to critical Empty Merkle Tree vulnerability and IAVL Spoofing ...

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YGG closes $13.8M round led by DWF Labs and a16z Crypto | Invezz

Yield Guild Games (YGG/USD) has raised $13.8 million in a token sale led by DWF Labs, the investment arm of high-frequency trading platform Digital Wave Finance (DWF). The token purchase, which was from the YGG treasury, also attracted the participation of a16z Crypto, Galaxy Interactive, Sanctor Capital, and Sangha Capital Fund. Are you looking for ...

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OneOf closes $8M strategic round,launches NFT for American Express event

OneOf, a Polygon (MATIC)-based Web3-focused platform that seeks to promote the sector’s growth around music, sports and brands, has closed an $8 million round in a strategic round that included several leading investors.

Backing for OneOf in this latest financing round were investments from Amex Ventures, Chain Link Crypto Fund, Mirabaud Lifestyle Impact, Snow Hill Ventures, and Sangha Capital. These join existing investors such as Galaxy Digital, Nima Capital, leading venture capitalist Bill Tai’s Actai Unicorn Fund, Tezos Foundation, Andromeda Capital, and Sanctor Capital among others.

With the NFTs market continuing to see new growth momentum following a crypto winter lull, OneOf is looking to use the fresh capital infusion to fast-track development around its green NFT marketplace.

OneOf CEO Lin Dai said in a statement that the strategic round reflects the confidence investors have in the company, noting that the key support would help bring the benefits of Web3 to creators. According to Dai, the funding will help the platform achieve its goal of helping onboard the next 100 million non-crypto native users from across the world into the NFTs and blockchain ecosystem.

“As the Web3 market matures and consolidates, we see great opportunities in creating new commerce models, enabling creators of all shapes and sizes, from the biggest global brands to the newest independent artists, to unlock the real world potentials of this new technology.”

The platform, which has now raised over $72 million from investors, announced that it had also launched an NFT collection for American Express (NYSE: AXP)to mark the three-week Colour Oasis Popup Experience event. The NFTs will be available to American Express Card Members at the event in Bodrum, Turkey.

The unique NFT collection is designed by Selay Karasu, a celebrated Turkish artist whose works have been featured at MOMA NYC, Art Babel and Burning Man.

The American Express event began on 29 July and will conclude on 21 August 2022.In May, Polygon (MATIC)-based OneOf partnered with eBay as the ecommerce giant rolled out its debut limited edition NFTs featuring hockey legend Wayne Gretzky.

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Bitcoin Marks Seven Consecutive Red Candles, Paints Gruesome Picture For Market

Bitcoin has now entered perhaps one of its most bearish periods ever. The cryptocurrency which has held up quite nicely through all of the market scandals is seeing even more bad news ahead. Previously, it has seen a good number of consecutively red closes that have solidified its entrance into a bear market. However, this time around, it seems that the digital asset is ready to set another record, but this time for the worse. Seven Red Candles Anyone that has been following the market recently knows that Bitcoin has been seeing multiple consecutive red closes. This has not been a cause for alarm though since the digital asset has a history of marking bearish trends like these and still coming out on top. But this would prove to be a trend like no other after the cryptocurrency had seen its 7th consecutive red close. Related Reading | Bitcoin Recovers Above $30,000, Has The Bottom Been Marked? This would make it the first time in history that bitcoin is marking such a trend. However, what is even more important is what seven consecutive red candles mean for the cryptocurrency. With the digital asset still being a seller’s market, a close like this could trigger even more sell-offs as investors worry about the future of the coin in the short term. Furthermore, with so many red candles showing on the charts, it could indicate that there is more downtrend left to follow. An example of this was marked in the 2014 bear market that saw bitcoin record four consecutive red closes. What had followed was a single green close that would prove to give way to an even more brutal downtrend. Now, if bitcoin were to mirror this move from 2014, then another plunge below $30,000 may be imminent. BTC declines to $29,500 | Source: BTCUSD on TradingView.com Not All Bad News For Bitcoin While seven consecutive red closes can often paint a bearish picture, this is not always the case. It is well-known that the digital asset can record the most bearish patterns right before recovery. Oftentimes, a tremendous recovery. An example of this was in August of 2018 when the market had marked six consecutive red closes. Since the market had been in a stretched-out bear market at that point, it was assumed that what would follow this could only be more losses. However, this would prove to not be the case as the digital asset had gone on to record five consecutive green closes. Related Reading | Investors Make For Stablecoin Hills As USDT Volume Touches All-Time High Now, this was not the start of the next bull market but it showed that as much as these trends can signify more downtrends to come, they can also be a precursor of a good recovery. Expectations for bitcoin this time around are great as the digital asset has been able to now break above $30,000, although it has trouble maintaining its position above this point. The price of BTC is trending around $29,600 at the time of this writing. This puts it slightly above its 5-day simple moving average but continues to show bearish trends across other indicators. Featured image from Cryptonaute, chart from TradingView.com

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US Senator Ted Cruz Bought the Bitcoin Dip, Discloses BTC Purchase Worth up to $50K – Featured Bitcoin News

U.S. Senator Ted Cruz has declared his bitcoin purchase worth up to $50,000. “I’m also particularly proud that my home state, Texas, is becoming an oasis for the blockchain community, for bitcoin miners, for innovators and entrepreneurs in the crypto world,” said the senator. Senator Ted Cruz Declares Bitcoin Purchase U.S. Senator Ted Cruz has […]

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Crypto group loses bid to buy rare US Constitution copy in ‘record breaking’ Sotheby’s auction

advertisement Sotheby’s said Thursday night that a rare copy of the U.S. Constitution was sold for $43.2 million at auction — but unfortunately, the win did not go to a week-in-the-making community that raised tens of millions of dollars for just this purpose. Organizer Julian Weisser confirmed the loss amid a chaotic online viewing party […]

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Gemini Cleared as SEC Closes Investigation, Confirms Winklevoss

The U.S. Securities and Exchange Commission (SEC) has concluded its investigation into Gemini cryptocurrency exchange without taking any enforcement action. The SEC’s decision brings a sense of relief to Gemini and its founders, Cameron and Tyler Winklevoss. Gemini has been under the SEC’s radar for a while, as regulators examined various aspects of the exchange’s [...]

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SEC closes investigation into OpenSea NFT marketplace

The Securities and Exchange Commission (SEC) has officially closed its investigation into the popular NFT platform, OpenSea. This news comes as a relief to many in the cryptocurrency community who have been closely following the situation. The SEC’s decision to close the investigation indicates that they found no evidence of any wrongdoing on the part [...]

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Lawyer Outlines What Would Happen if SEC Wins Lawsuit Against Ripple Over XRP

A lawyer has outlined what he believes to be the most likely outcome if the U.S. Securities and Exchange Commission (SEC) wins against Ripple Labs and XRP is declared a security. He expects Ripple to appeal if the SEC wins, warning: “If Ripple loses to the SEC, there won’t be any money collected for years.”

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US Dollar Could Lose Most of Its Value in 5 Years, Investment Manager Warns

Investment manager Larry Lepard has warned that the U.S. dollar could lose most of its value within five to 10 years. Following the onset of the Russia-Ukraine war, “the U.S. did something which I perceived to be very stupid, which is it seized $600 billion of Russian currency reserves, and that sent the message to [...]

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Lawyer Expects SEC to Lose if It Sues Coinbase Due to ‘Fatal Flaw’ of Gary Gensler’s Own Making

A lawyer has explained why the U.S. Securities and Exchange Commission (SEC) will likely lose if the regulator takes crypto exchange Coinbase to court over alleged securities law violations. “The problem is entirely of Gary Gensler’s own making,” he stressed. Lawyer Expects SEC to Lose Against Coinbase in Court Lawyer James Murphy explained in a

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