NFT News by Thebittimes.Com

Binance has started scaling back its workforce despite claiming that layoffs weren’t on the cards in March. This is according to a tweet from crypto journalist Colin Wu who reports that “multiple sources” have confirmed the news. According to Wu, the number of jobs set to go is still not certain but if it’s in keeping with other prominent exchanges and companies that have made cuts this year, it could be a significant number. Indeed, since the turn of the year, the likes of Crypto.com, Polygon Labs, Gemini, Dapper Labs, Coinbase, and Huobi have all announced plans to cut between 10% and 20% of their staff. This is on the back of already-significant job losses during 2022. Even Matt Damon couldn’t save 2,000 Crypto.com staff Read more: Crypto exchange Luno abandons Singapore months after staff cuts Many of these losses were attributed to an across-the-board dip in Crypto markets and the ongoing fallout from the collapse of Sam Bankman-Fried’s FTX . Binance is currently thought...

MyContainer partners with Wanchain to provide its users with the best opportunities to participate in the Wanchain ecosystem. Wanchain is a blockchain project that aims to drive blockchain adoption by creating interoperability between different blockchain networks. They achieve this through a cross-chain infrastructure that connects siloed blockchains, empowering developers to build decentralized cross-chain applications for the future of Web3. Additionally, Wanchain’s  native cryptocurrency,  $WAN , operates within its cross-chain infrastructure. It is secured through a proprietary Proof of Stake consensus algorithm called Galaxy Consensus, which builds upon Cardano’s Ouroboros. Validators on the network are required to  stake WAN coins  to participate in transaction validation. MyCointainer Platform & Wallet Integration From now on, community members can take advantage of the Wanchain native token’s  utility on  its platform . Deposits and withdrawals are process...

The BRC-721E token standard was launched by the Ordinals market and the Bitcoin Miladys NFT collection, allowing traders to transfer their ERC-721 NFTs to Ordinals. Bitcoin Ordinals are the latest layer-2 solution enabling decentralized storage of digital art on the Bitcoin blockchain. Ordinals will now allow users to migrate their Ethereum ERC-721-based nonfungible tokens (NFTs) to the Bitcoin blockchain with the launch of the BRC-721E standard. The BRC-721E standard was jointly launch ed by the Ordinals market — an Ordinals-based marketplace — and the Bitcoin Miladys NFT collection. The new BRC-721E standard enables the conversion of immutable, verifiable ERC-721 NFTs to Ordinals. Initially, metadata is not stored on-chain, but users can store a lower-quality preview image and include a reference to the Ether (ETH) burn in the raw image data. Our #Bitcoin Ordinals bridge is now live In collaboration with @OrdinalsMarket_ & @xverseApp Bridge: https://t.co/T9UhTNVp4W New token s...

Also Read: Lawyer Reveals Why US Exchanges May Relist XRP advertisement Will Token Unlocks Trouble Crypto Market? According to the data, the cumulative worth of major tokens set to be unlocked in June 2023 stands at over $481 million. It is expected that these unlocking events can trigger uncertainty in the market. However, the crypto market cap jumped by 2.29% on Monday to stand around $1.16 trillion. Blur , a non-fungible token (NFT) marketplace will be unlocking 195.99 million of its native governance token BLUR on June 14, 2023. The 6.533% of its total supply (approx worth $101.8 million) will be added to the circulating supply. BLUR is trading at an average price of $0.51, at the press time. Source: TokenUnlocks 1Inch Network (1INCH) is set to unlock 249.8 million tokens on Jun 2, 2023. The network will be unleashing 16.654% of its total supply (approx worth $99.3 million) to the circulating supply. This unlock event will leave 553.75 million...

Also Read: Bitcoin Rally Kickstarts Over Debt Ceiling Deal Confirmation News advertisement How Will Bitcoin Do By December 2023 The BitMEX CEO said Bitcoin might not reach the $70,000 mark this year but the year 2024 could be good for the Crypto Market . He said the top cryptocurrency could face another collapse in 2025 and 2026 due to geopolitical tensions. However, despite the opportunity to make profits, he predicted that most people will not invest in Bitcoin . He made the comments during the What Did Bitcoin podcast. “Next year (2024) is when I think we will cross that barrier ($70,000) and we get the blow off top in 2025 or 2026. And then it’s Armageddon.” Interestingly, Hayes said he did invest in PEPE Coin, the sensational memecoin that took the Crypto Market by storm in the last 2 months. Recommended Articles Crypto Presale P...

World’s leading crypto exchange Binance’s CEO Changpeng Zhao recently had an interview with the Asian Leadership Conference. Binance’s official Twitter posted about the same sharing Zhao’s words stating “Blockchain will be successful enough that we don’t have to use that word anymore.” CZ: "Blockchain will be successful enough that we don't have to use that word anymore."@cz_binance recently joined the Asian Leadership Conference virtually, where he shared his thoughts on a number of topics, including the future of blockchain. Here's what he had to say pic.twitter.com/dMEsB8CNhB — Binance (@binance) May 27, 2023 During his conversation with Park Sunyoung, Assoc. Professor at the Economics Department, and Dean of International Affairs at Dongguk University, Zhao expressed how the Internet is not spoken of in today’s world, only the actions associated with it such as “watching a video online,” Zhao feels that the future will be simil...

After saying it was connected to Morgan Stanley, a big international bank, the DeFi website disappeared with more than $30 million of its users’ money. Fintoch is a decentralized finance (DeFi) protocol that gives peer-to-peer (P2P) lending and investment services. In what looks like an exit scam, they have stolen $31.6 million in cryptocurrencies from investors. Earlier today, I saw multiple tweets from Fintoch users who were upset that they couldn’t remove their assets. This confirmed that the platform had disappeared with investors’ money. Fintoch Rug Pulls Users ZachXBT, a well-known Web3 expert and on-chain analyst, reported the rug pull on Twitter late Tuesday night. He suggested that the team behind Fintoch had scammed users on the Binance Smart Chain (BSC). Zach said that on May 22, around 12:58 UTC, Fintoch had sent USDT worth $31.6 million to various addresses on the Tron and Ethereum networks. Investors were scared when the site ...

Shiba Inu is a prominent meme coin , earning its place as the second largest meme coin . The team behind SHIB has shown consistent efforts towards its development, as evident from its various developments, such as the SHIB Burn initiative. Despite the ongoing efforts from the SHIB team, the price of the second-largest meme coin has not been in its best form lately. The recent drop in price has also caused most of the holders who entered at a higher price to be at a loss. Also read: Shiba Inu Burn Rate Sees a -97% Decline According to the latest data from the “Break Even Price” indicator of IntoTheBlock, one million Shiba Inu addresses are likely to be in losses. Source: IntoTheBlock One Million Shiba Inu holders in losses Data from the image above depicts the segregation of holders in profit, break-even, and losses. According to the data, green represents profit, gray represents break-even, and red denotes losses. As it is evident from the image, red is domina...

Brad Garlinghouse, the man behind enterprise blockchain solution firm Ripple, expects a resolution in the controversial lawsuit filed by the U.S. Securities and Exchange Commission (SEC) within the next few weeks. Garlinghouse’s ETA on the resolution presents an expedited timeline as compared to the community sentiment, which estimated that a verdict may take months. Garlinghouse’s comments came during an interview with Mukaya Panich, the CEO of SCB 10X. SCB 10X is currently hosting its 4th Annual DeFi and Web3 Virtual Summit, featuring industry leaders like Circle Chief Jeremy Allaire, Arbitrum CEO Steven Goldfeder, Chainalysis CEO Michael Gronager, and Curve co-founder Michael Egorov. When asked about the ongoing battle with the SEC, Brad Garlinghouse revealed that he expects a decision within weeks and not months. The Ripple CEO’s estimation of a resolution is based on the recent decision of the overseeing judge to deny the securities regulator’s motion to seal the infam...

Join Our Telegram channel to stay up to date on breaking news coverage Amidst the ongoing halt in negotiations to raise the United States government’s debt limit of $31.4 trillion, market uncertainty persists, and a faction of analysts is diverging from the consensus by cautioning about potential repercussions for the cryptocurrency market. Debt Limit Deadlock – Cryptocurrency Market Braces for Uncertain Times The U.S. reached its statutory debt limit on January 19, prompting the Treasury to take extraordinary measures and deplete its Treasury General Account (TGA) balance to sustain government operations. This strategy aimed to prevent a government default and mitigate concerns over the Federal Reserve’s continuous interest rate hikes, thereby maintaining demand for assets such as bitcoin, which are sensitive to fluctuations in U.S. dollar liquidity. According to MacroMicro, the TGA balance has declined from approximately $500 billion at the beginning of F...

Bitcoin’s NFT market is growing, but it is primarily driven by newfound hype for memecoin trading on the blockchain. The monthly trading volume of nonfungible tokens (NFTs) and memecoins on Bitcoin in May surpassed Solana’s volume, according to data from CryptoSlam.  Bitcoin ordinals trading volume currently stands in second place behind Ethereum, which did $393 million in NFT volume, more than twice that of ordinals on Bitcoin (BTC) in 30-days starting April 23. Bitcoin gained a significant lead over popular block chain s like Polygon, ImmutableX, BNB Chain and Solana during this period. According to a Dune dashboard by BRC-20 token standard creator Domo, BRC-20 token transactions accounted for the majority of ordinals activity on Bitcoin. The BRC-20 token standard is an experimental fungible token standard built using ordinals. It has harbored hype for memecoin, speculative cryptocurrencies whose price action is fueled by certain enthusiastic communities. The total market capitali...

Also Read: Ledger Controversy: Ripple CTO Shares 7 Key Strategies to End Current Debacle advertisement Ledger CEO Apologizes Pascal Gauthier, the Chairman and CEO of Ledger , said the company did not intend to surprise users over the seed phrase recovery concerns. However, the CEO said the company will priorititize security and increased transparency going forward. Hence, he said, the company decided to accelerate its open sourcing plans. The open source code from Ledger will include the operating system, starting with core components of the OS, and Ledger Recover, which won’t be released until this work is complete, the CEO said in a statement. This means the key recovery feature’s release has been postponed until completion. “Our unintentional communication mistake took everyone by surprise and affected our customer’s ability to accurately understand Ledger Recover, its role for the growing crypto community, and for Ledger ...