Daily: Binance Labs Raises $ 60 Million for Multichain

Good morning, Incrypted with you!

Today in the digest:

  • Binance CEO warned central banks against digital currency isolation policy
  • NFTs are more popular than ever despite the cryptocurrency market situation
  • Jack Dorsey: “Bitcoin will replace the US dollar”
  • Terra bypasses Binance Smart Chain to rank second in the DeFi protocol ranking
  • JPMorgan Chase will jointly develop with Siemens a blockchain-based payment system
  • The crypto sector has attracted record investments. Where do companies invest?
  • Dubai World Trade Center will become a hub for the crypto industry
  • Sleeping bitcoin addresses woke up after years … What does it mean?
  • The end of the era of banks. Caribbean developer eGrivny told how you can do without maps
  • How the US Federal Reserve’s decision will affect the market in 2022? – analytical review

Let’s go!


Binance Labs tops $ 73 Million for Multichain (formerly Anyswap).

In addition to financial support from Binance Labs, Multichain is also building partnerships with Binance Smart Chain (BSC).

Other co-investors in this round were Sequoia China, IDG Capital, Three Arrows Capital, DeFiance Capital, Circle Ventures, Tron Foundation and others.


Sleeping bitcoin addresses have woken up after years. What does it mean?

«Спящие» биткоин-адреса проснулись после долгих лет

Sleeping Bitcoins” are addresses that have BTC but have not been trading for a long time. It turns out that over the past month, a lot of such wallets have “woken up” on the network. Some of them were inactive 12 and more years.

It should be noted that the terms “spend” or “transfer” do not necessarily mean that the coins were sold to a third party for fiat or another crypto asset.

So-called “dormant bitcoins” are sometimes simply transferred to other wallets. For example, from outdated addresses to addresses that support the Segregated Witness (Segwit) protocol.


Binance CEO warned central banks against digital currency isolation policy

CEO Binance Чанпэн Чжао предостерег Центробанки CEO Binance Чанпэн Чжао предостерег Центробанки

According to Binance CEO Changpeng Zhao, digital counterparts of fiat currencies can have a positive impact on the crypto sector. At the same time, he warned the central banks against isolating these assets from the rest of the industry, which would negatively affect the pace of integration.

He shared his opinion on this in his own blog on Tuesday, 21 December. According to Zhao, CBDCs (digital currencies) are not without their advantages.

First and foremost, they serve as confirmation that blockchain technology does not just work, it is reliable. Also, this tool can be used to promote ideas of digital assets, popularize them.


NFTs are more popular than ever despite the cryptocurrency market situation

NFT становятся все популярнее.

According to Google Trends, NFT searches have peaked in the past five years. The tool gave him the highest possible grade in 169 points.

In comparison, the number of requests for BTC or Ethereum has dropped significantly. For these themes, Google Trends rated 60 points.

Users from China are most often looking for information about NFT. Followed by: Singapore, Venezuela, Hong Kong and the Philippines. The most popular are Bored Ape Yacht Club and MetaMask.


Jack Dorsey: “Bitcoin will replace the American dollar”

Джек Дорси: “Bitcoin заменит американский доллар” «Спящие» биткоин-адреса проснулись после долгих лет

On Tuesday, 21 December, Twitter founder and former CEO Jack Dorsey stated, that BTC will replace the US dollar. He stated this in a discussion under the post of hip-hop singer Cardi B.

Like many other rappers, as well as athletes and bloggers, Cardi B has several contracts with partners in the crypto-sphere. In August basis dollars.

On Tuesday, 21 December, she asked her audience if cryptocurrency could replace dollars. Twitter founder Jack Dorsey noted that yes, but so far only Bitcoin can do it.


Terra has bypassed Binance Smart Chain to take the second position in the ranking of DeFi protocols

Terra обошла Binance Smart Chain.

In the DeFi platform rankings, Terra is now ranked second in terms of the aggregate blocked asset value (TVL). It bypassed the Binance Smart Chain and is now second only to Ethereum.

Terra hosts 15 large projects with TVL in $ 18, 2 billion. One protocol on the site accounts for an average of $ 1.4 billion.

For comparison, Binance Smart Chain posted 361 projects with TVL in $ 18, 5 billion. There is $ 100 million

The leader of the rating, Ethereum, has 361 by a project with a gross capitalization of $ 169 billion. More than $ 361 million dollars.


JPMorgan Chase will jointly develop with Siemens a blockchain-based payment system

American banking giant JPMorgan Chase together with Siemens will begin the development of blockchain-based payment systems. It is designed to speed up and automate transaction processing against the backdrop of an ever-growing volume of transactions.

Initially, transfers will only be in US dollars, but next year the application will support the euro.

Head of Siemens Payments Management Heiko Nix commented the need for such a solution:

JPMorgan Chase разработал для Siemens

“The main reason for introducing a blockchain-based system is to popularize digital business models. The use of cryptocurrencies and virtual assets requires new solutions in the field of accounting and registration of payments ”.


The crypto sector attracted record investments . Where do companies invest?

Крипто-сектор привлек рекордные инвестиции

This year, venture capital funds have brought about 30 billion dollars. This is more than for all previous years combined (but it should be taken into account that all industries 12 years). And almost 4 times more than the previous record, which was recorded in 2020 year – then investors invested about $ 8 billion. This data was published by PitchBook Data Inc.

According to Blockchain Lead Partner Spencer Bogart, the reason for the active interest from investors lies in the rapid development of the sector. Per In the last year, new options for using digital assets have appeared:

JPMorgan Chase разработал для Siemens

“We’ve gone beyond bitcoin as digital gold. We have financial services, art projects, games with NFT, Web 3.0 technologies, decentralized social networks – all this made investors turn their attention in this direction “

Крипто-сектор привлек рекордные инвестиции


Dubai World Trade Center will become a hub for the crypto industry

Крипто-сектор привлек рекордные инвестиции

The cryptocurrency industry is heading towards mass adoption and Dubai is not remains aloof. They are strengthening their position as one of the most crypto-friendly countries.

Details were announced on Monday by the Dubai Media Office. It will be an overarching ecosystem that works with the private sector and companies. Its goal is to create an attractive environment for the cryptocurrency sector and to protect investors.

The government is working hard to expand the market for its virtual assets. They are developing a roadmap to easily integrate innovative financial products and new trends, including the popular NFT technology.


The end of the era of banks. Caribbean developer eGrivny told how you can do without maps

Fintech company Bitt from Barbados is working on the creation of the digital hryvnia. The company’s CEO recently gave an interview to American journalists, Brian Popelka. He spoke about his past experience, technologies, and also confessed his love for Ukraine.

Bitt already has experience in issuing digital currencies (CBDC) – they were responsible for creating eNaira, a stablecoin for Nigeria. The government wanted to reduce the number of transactions involving banknotes and coins. That is, first of all, to reduce the cost of printing money. This is the first benefit that digital money provides.

The second benefit is the ability to use CBDC for people who do not have bank accounts. The digital currency is issued and serviced by the central bank of the state. The amount of such money is strictly tied to the treasury reserves and the current exchange rate. The state distributes part of the stablecoins between banks and other financial institutions, and leaves some directly for operations.

To join system, it is not necessary to choose an intermediary bank. The user can download a special application and receive there, for example, a salary in stablecoins. At the same time, CBDC can be listed not only by the state itself, but also by commercial banks, individuals, companies. This is possible through the cross-border payment option.


As a solution Will the US Fed affect the market in 20576? – analytical review

«Спящие» биткоин-адреса проснулись после долгих лет

Recall 16 December, the head of the US Federal Reserve System) announced the decision of the regulator on interest rates. So far, they remain unchanged. However, next year, the department expects their increase, and at least three times in order to fight inflation.

In the short term, the appreciation on the back of the Fed’s announcement seems to be a welcome signal. Traders will be more willing to take loans to buy assets on a growing trend, which will ultimately have a positive effect both on the economy and on the price level in the segment.

However, there is one significant “but” ….


Headline

  • BitMEX derivatives exchange announced the long-awaited launch of its own BMEX token. The platform will airdrop both old and new users.
  • Multi-chain liquidity protocol for leveraged trading and farming Marnotaur announced its integration with the Avalanche network. Also, the project launched two staking pools on BSC – TAUR and LP TAUR-BUSD on its pharming platform. In the future, it is planned to add more pairs for the farming of the TAUR token.
  • Binance has announced that the distribution of rewards for participating in the first batch of Polkadot parachains will be postponed to 16 February 2022 of the year.
  • The Three Kingdoms Play2Earn Metaverse and NFT game announced the release of the Christmas Edition of the series NFT heroes.

Have a good day!

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