The biggest news in the cryptoverse for March 1st was that Robinhood launched its self-custody wallet on Apple’s App Store. Elsewhere, Justin Sun called for Huobi and TRON to have uniform regulation in the crypto industry. Also, updates on Binance’s AI art generator, a digital US dollar, and Coinbase’s BUSD volumes.
CryptoSlate Top Stories
Robinhood’s Self-Custody Wallet launches on iOS
Crypto exchange platform Robinhood’s wallet application launched on March 1st in the iOS application store, according to the announcement published on the Robinhood blog.
The announcement states that users can receive a one-time reward of up to $5 coin (USDC) when they transfer $10 to the wallet app using their Robinhood Crypto wallets. If users initiate the transfer from another wallet or exchange, they can claim a reward of 1 USDC for it.
Robinhood’s wallet application currently supports Polygon (MATIC) and Ethereum (ETH) networks, with the expectation of increasing the number of supported chains in the future. It also supports NFTs on MATIC and ETH chains.
Justin Sun calls for unified crypto regulation
Tron DAO (TRX) founder and Huobi Global advisor Justin Sun said that regulations are beneficial for the crypto industry. and in an exclusive interview he gave to CNBC, adding that a globally unified rule would complement the spirit of blockchain.
Sun explained that blockchain technology emerged to set a global standard for financial interactions and therefore an international regulatory framework would be well suited for the crypto industry.
Former Biden adviser calls for development of digital dollar to ‘crowd out’ private cryptos
Former Joe Biden administrative adviser Daleep Singh told the Senate Banking Committee on Feb. 28 that the development of a central bank digital currency — i.e., a digital dollar — would help protect national interests and replace private cryptocurrencies.
Singh was formerly Deputy National Security Adviser for International Economics and Deputy Director of the National Economic Council. He was one of the main people responsible for sanctions against Russia after its invasion of Ukraine.
Responding to requests from Elizabeth Warren, Singh said that crypto allows bad actors to commit certain financial crimes such as ransomware, agreeing that without cryptocurrencies this would not be possible.
Binance’s AI NFT generator is flooded with requests within an hour of launching
Binance CEO Changpeng Zhao, commonly known as “CZ,” announced on March 1.
However, within an hour of the announcement, the AI tool received more requests than it could handle. The tool started with the prompt “Too many requests queued, please try again later.”
BUSD trading volume fell to its lowest point on Coinbase in February
Binance USD (BUSD) stablecoin trading volume fell to its lowest level since Coinbase listed it in April 2022.
According to Kaiko Research analyst Dessislava Ianeva, trading volume of the stablecoin was $9 million in February. Ianeva added that BUSD accounted for just 0.02% of Coinbase’s total volume.
Over the past month, BUSD has come under intense regulatory scrutiny. On Feb. 13, BUSD issuer Paxos was ordered by the New York Department of Financial Services (NYDFS) to halt other stablecoin mints.
Poop Emoji Bitcoin Ordinal Sells for $28,000 – Wash Trade or Real?
A bitcoin ordinal depicting a poop emoji was sold on March 1 for 1.2 BTC — equivalent to about $28,000 at press time.
The atomic number is labeled Inscription #121 and was minted on block 773820.
It is unclear if the transaction was a legitimate sale or a wash trade attempt to generate more interest in the ordinal and overall NFT ecosystem.
Quantum Temple enters into NFT partnership with the Indonesian Ministry of Tourism
When it comes to blockchain and cultural heritage, few have more expertise on the matter than Linda Adami, an alma mater of the Dubai Future Foundation’s innovative accelerator program. Adamis today works at the forefront of blockchain technology and sustainable tourism.
“Heritage is incredibly underfunded,” she told CryptoSlate during a March 1 interview. “But what if we could use NFTs to create immutable cultural archives and use them to develop a new model that would incentivize current and future generations to continue to engage with cultural heritage.”
Indian exchange Bitbns admits it was hacked for $7.5 million last February
Crypto sniffer dog, nicknamed ZachXBT on Twitter, claimed that Indian crypto exchange Bitbns covered up a hack under the guise of “system maintenance” on February 1, 2022. The exchange was hacked, he claimed on March 1, 2023.
Bitbns CEO Gaurav Dahake admitted in an AMA session today that the exchange was indeed hacked 13 months ago. But Dahake claimed the system was taken offline to analyze anomalies and was not a tact to hide the hack.
Yield Farming Sector Up 8% According to CryptoSlate Data
Yield farming platforms and protocols are up 8% in the last 24 hours, with the sector’s total market cap now exceeding $10 billion.
The yield farming token sector refers to a subset of the decentralized finance (DeFi) ecosystem that focuses on incentivizing users to provide liquidity to various DeFi protocols.
Chainlink launches web3 serverless developer platform to connect web2 APIs to web3
Web3 oracle provider Chainlink has unveiled a new serverless developer platform called “Chainlink Functions” on its Web3 services platform to enable developers to build decentralized applications and connect smart contracts to any Web2 API.
crypto market
In the last 24 hours, Bitcoin (BTC) has risen 0.79% traded at $23,411.43 while Ethereum (ETH) rose 1.15% at $1,640.63.
Biggest Winners (24h)
- RSK Infrastructure Framework (RIF): +22.84%
- Manufacturer (MKR): +18.57%
- Conflux Network (CFX): +18.06%
Biggest Losers (24h)
- Nerve network (CKB): -6.92%
- Energy Web Token (EWT): -5.81%
- Gitcoins (GTC): -5.64%
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