Get your daily, bite-sized roundup of cryptoasset and blockchain-related news – examine the stories flying under the radar in today’s crypto news.
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Stablecoins News
- stablecoin issuer tether (USDT) plans to reduce its holdings of trade debt in its reserves, CNBC reported, citing Paolo Ardoino, the company’s chief technology officer. In Q4 2021, commercial paper accounted for just over 30% of Tether’s total reserves, up from more than 44% in Q3, and that number is expected to continue falling.
- Tether also announced the launch of USDT tokens on the Kusama (KSM) network, a Polkadot (DOT) parachain (other chains connected to Polkadot’s mainchain).
Investment news
- Infrastructure provider for crypto payments MoonPay announced that it had raised $87 million in a recent funding round. Investors include more than 60 entertainment and sports personalities, including musicians Anthony Kiedis, Post Malone, Justin Bieber, Jason Derulo and others, as well as actors Bruce Willis, Kate Hudson, Shailene Woodley, etc.
- Ethereum (ETH) scaling platform. polygon (MATIC) announced its commitment to go carbon negative in 2022, along with a $20 million pledge to implement a sustainable development strategy for their future. Their first collaboration will be with the environmentalist collective ClimateDAO.
- Large non-fungible token (NFT) focused company Animoca Marks said that it will acquire darewise entertainment, a game studio currently developing the play-and-earn blockchain sci-fi MMO (massively multiplayer online game) Life Beyond. They added that this collaboration will facilitate planned growth, accelerate game development, and combine video game development with blockchain integration, NFTs, and play-and-earn capabilities.
- “Metaverse Innovation” and entertainment company Infinite Reality (iR) announced that they have entered into a definitive merger agreement to acquire the esports and entertainment conglomerate ReKTGlobal in an all-stock deal valued at $470 million based on an iR equity valuation of $2 billion for a combined post-closing valuation of $2.47 billion.
- Blockchain developer Ignite announced the launch of a $150 million accelerator program called Ignite Accelerator, focused on early-stage blockchain projects. The program will support up to 20 projects per year with two cohorts per year, they added.
- Avatar technology company geniuses announced that it has raised a $150 million Series C round, led by silver lake. The funds will be used to hire and invest in their core technologies, they added.
Metaverse News
- Metathe parent company of the social network Facebookplans a cut of up to 47.5% in sales of digital assets on its virtual reality platform horizon worlds, per CNBC. This includes a 30% “hardware platform fee” for sales made through the Meta Quest Store, as well as a 17.5% fee charged by Horizon Worlds.
CBDC’s news
- That Bank of Japan (BOJ) will not issue a digital currency with the aim of achieving negative interest rates, Bloomberg reported, citing BOJ Executive Director Shinichi Uchida. The functionality would be “operationally unrealistic” while cash is available, and it’s unlikely the general public would support such a decision, the report said.
Wallet News
- Institutional metamaskthe institutional extension of the crypto wallet metamaskannounced that it has integrated the Web3 security standard Gnosis safe integrated into its solution and enabled multisig (multi-signature) capabilities for interactions with decentralized finance (DeFi).
exchange messages
- London concert venue size announced a partnership with the crypto platform The moon This includes the opening of The Luno, a multi-format space at the top of the theater that will host DJ shows, digital art exhibitions and immersive events.
NFTs News
- autographthe Web3 brand, co-founded by American football star Tom Brady, announced a deal with Penske Entertainment and professional sports team Team Penke. The relationship includes racing brands: NTT INDYCAR SERIES, Indianapolis Motor Speedway, and Team Penske. As part of the multi-year partnership, the first NFT premium collections will be released on May 29, they said.
Career News
- Mick Mulvaney, acting chief of staff to former US President Donald Trump, has been hired by Astra protocol to advise US strategy for meeting compliance requirements in DeFi, Bloomberg reported. Mulvaney will work with the Swiss startup as it raises funds and works to steer policy developments, it added.
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