Mayowa Adenle
I am a crypto analyst. I am responsible for analyzing and predicting trends, pricing, demand, and trading volumes of any number of cryptocurrencies currently available.
Articles by Mayowa Adenle
1 year ago
1 min read
Ripple CEO Brad Garlinghouse has called the recent regulatory developments in the cryptocurrency industry “energizing.” In a series of tweets, Garlinghouse highlighted the steps being taken by various countries, such as Dubai releasing a comprehensive set of rulebooks for crypto market participants. In addition, he mentioned about Australia’s Treasury seeking public input on updating licensing and custody for cryptocurrencies, the UK government’s intention to establish a clear framework balancing innovation and financial stability, and South Korea’s publication of guidelines to differentiate between security and payment tokens. Garlinghouse said that these regulators are providing leadership and doing the work that is
1 year ago
1 min read
The verdict in the Hermès vs. Rothschild NFT trial has been reached, and the French luxury brand has come out on top. A nine-person jury ruled in favor of Hermès, awarding $133,000 in damages and determining that Rothschild had indeed profited from the brand’s goodwill by producing NFTs based on its Birkin bags. This case sets a powerful precedent for NFT creators and will have a lasting impact on intellectual property (IP) law as it relates to digital creations. Rothschild’s NFT collection, MetaBirkins, was at the center of the lawsuit. The jury decided that the NFTs were not protected under
1 year ago
1 min read
The metaverse’s development continues to be a hot topic in the Middle East region, as evidenced by the recent LEAP conference in Riyadh, Saudi Arabia. The conference provided a platform for key players in the industry to discuss and explore new opportunities in the field. The highlight of the conference was the partnership ceremony between The Sandbox and the Saudi Arabia Digital Government Authority (DGA). The two organizations signed a memorandum of understanding (MOU) for the purpose of “exploring, advising, and supporting” one another in the development of the metaverse. While the details of the partnership have not been disclosed,
1 year ago
1 min read
StarkWare, a provider of layer 2 blockchain scaling systems, has announced its partnership with Chainlink Labs to drive growth and accelerate application development for the StarkNet ecosystem. The Israel-based company will be joining the Chainlink SCALE accelerator program, which will allow StarkNet tokens to cover operating costs for Chainlink oracle nodes. This partnership will give StarkNet developers access to Chainlink’s data feeds and services at a reduced cost. Oracles play a crucial role in sending data from the real world to a blockchain and triggering smart contract events. With Chainlink’s industry-standard oracle services, StarkNet will be well-positioned to build next-generation,
1 year ago
1 min read
A rehabilitation center called “The Balance” located in Spain, London and Zurich has started offering services aimed at treating crypto trading addiction. The center, which has long treated addictions such as alcohol, drugs and behavioral health, recently started offering services to help individuals overcome their crypto trading addiction, according to a report from the BBC. The treatment involves a four-week stay that involves therapy, massages and yoga, with a bill upwards of $75,000. Other rehabilitation centers, such as Castle Craig Hospital in Scotland and Diamond Rehabilitation in Thailand, have also started offering cryptocurrency addiction rehab and treatment services. Family Addiction
1 year ago
1 min read
Solana-based DeFi platform, Everlend, has announced that it is shutting down due to a lack of liquidity and a shrinking borrowing and lending market. The project mentioned that even with sufficient runway, continuing to operate and develop the protocol would be a “gamble.” Everlend has switched to withdrawal-only mode and encouraged users to remove their deposited funds. The codebase for the protocol will become open-source, allowing anyone to continue the work. The liquidity squeeze faced by Everlend is attributed to the DeFi ecosystem on Solana moving away from Serum, which was the main liquidity provider for nearly all projects on
1 year ago
1 min read
ConsenSys, a leading blockchain technology company, has launched MetaMask Learn, a free educational platform for anyone interested in learning about web3. MetaMask Learn provides an interactive environment to help users understand self-custody and provides a guided tour through common topics in web3. The platform aims to increase trust and confidence in self-custodial solutions by providing a practical tool for understanding web3. The platform will be available in 10 languages and the syllabus covers topics such as web3, crypto wallets, digital identity, self-custody wallets, NFTs and decentralized finance. Dan Finlay, co-founder of MetaMask, stated that MetaMask Learn gives users a foundation
1 year ago
1 min read
Twitter CEO Elon Musk has reportedly instructed his developers to build the platform’s payment system in a way that can accommodate cryptocurrencies in the future. The payments feature will initially support fiat currencies but be built to include cryptocurrencies, according to sources familiar with Twitter’s plans. Twitter has long been planning to bring payments to the platform as part of Musk’s goal to make it an “everything app.” Rumors emerged last October that Twitter was working on a wallet prototype that would support crypto deposits and withdrawals, but it appears the payment system will only support fiat currencies for now.
1 year ago
1 min read
Four senior officials in the Biden administration are calling for the US Congress to regulate the cryptocurrency market. The officials believe it would be a “grave mistake” to further connect crypto and traditional finance due to the risk of broader consequences. They point to the limited exposure of traditional financial institutions to cryptocurrencies as the reason why turmoil in the crypto market has not infected the broader financial system. The announcement follows a “tough year” for cryptocurrencies, including the collapse of Terra-Luna’s stablecoin and FTX.com crypto exchange. The officials urge Congress to expand regulators’ powers, increase transparency for crypto companies
1 year ago
1 min read
Bankrupt crypto lending firm BlockFi has reportedly uploaded uncensored financials by mistake, revealing $1.2 billion in assets tied up with bankrupt exchange FTX and its related trading firm Alameda Research. According to a January 24 report from CNBC, the unredacted filings show that as of January 14, BlockFi had $415.9 million worth of assets linked to FTX and a whopping $831.3 million in loans to Alameda. The previously censored financials were leaked as part of a presentation put together by M3 Partners, who is an advisor to the creditor committee and has reportedly admitted the filing was uploaded in error.
1 year ago
1 min read
A lawyer for bankrupt crypto lending firm Genesis is optimistic the firm can resolve its creditor disputes as early as this week, and the company could come out of Chapter 11 proceedings by late May. Genesis filed for Chapter 11 bankruptcy on Jan. 19. At the time it already had a restructuring plan along with a path pursuing a “sale, capital raise, and/or an equitization transaction” so it could potentially “emerge under new ownership.” The bankruptcy comes nearly two months after Genesis suspended withdrawals in November 2022, citing market turbulence caused by the bankruptcy of crypto exchange FTX. A series
1 year ago
1 min read
Two bills related to cryptocurrency were introduced to the Massachusetts House of Representatives. The first bill was for the creation of a special commission on blockchain technology, and the second was for protecting consumers in cryptocurrency exchanges. The bill for the special commission outlines the formation of a 25-member group that will investigate blockchain technology and its potential impact on the state of Massachusetts. The commission is to be taken seriously, as it will include the House Speaker, the minority leader, and the president of the Senate. The second bill is intended to protect Massachusetts customers who use cryptocurrency exchange
