Teererai Mukonavanhu
I'm a crypto, blockchain, and tech writer. I spend my time researching and writing about cryptocurrency, NFT, AI, and new technology.
Articles by Teererai Mukonavanhu
1 year ago
1 min read
The HBAR Foundation, the organization responsible for the Hedera blockchain, has recently reported that technical issues are affecting various decentralized applications (dApps) and their users. This has prompted Hashport, a bridge project, to temporarily pause its services due to smart contract irregularities on Hedera. Similarly, Pangolin, a decentralized exchange operating in the Hedera ecosystem, has also advised its users to withdraw their liquidity from the platform due to the same network irregularities. The HBAR Foundation has confirmed that it is actively working with affected partners and monitoring the situation to resolve the issue. However, SaucerSwap Labs, a DeFi project on
1 year ago
1 min read
Thailand’s Finance Ministry has announced that it will waive corporate income tax and value-added tax for companies conducting initial coin offerings (ICOs) for investment. This move is part of the military-backed government’s plan to provide alternative methods of raising capital through token issuance, in addition to traditional methods. According to reports, the government estimates that there will be approximately $3.7 billion worth of investment token offerings over the next two years. However, this will result in a tax loss of around $1 billion, a cost the government is willing to bear. Despite these tax incentives, there have been conflicting messages
1 year ago
1 min read
Esports powerhouse TSM is not giving up on the crypto space despite its previous partnership with FTX ending in fallout late last year. TSM has recently announced a new partnership with blockchain Avalanche that will see the organization building their own Avalanche-based subnet, marking an exciting new chapter for TSM. TSM is partnering with Avalanche to create a competitive gaming partnership between the esports organization and their gaming platform subsidiary, Blitz. As one of the most legacy organizations in the game, TSM has been operating for over a decade in a relatively young landscape. The esports organization currently competes in
1 year ago
1 min read
The fallout from Silvergate’s troubles has sparked a surge in demand for stablecoins. With cryptocurrency traders scrambling to find a safe haven for their assets, stablecoins have emerged as a viable option. Stablecoins are a type of cryptocurrency designed to maintain a stable value, often pegged to a fiat currency like the US dollar. This makes them an attractive option for traders seeking stability in a volatile market. According to recent data, stablecoin volume has been on the rise since news of Silvergate’s troubles first broke. In fact, stablecoin trading volume has reached an all-time high, as traders seek to
1 year ago
1 min read
Hong Kong-based cryptocurrency lender, Babel Finance, is reportedly planning to launch a new stablecoin backed by cryptocurrency in collaboration with a decentralized finance (DeFi) platform, Hope. The move comes in the wake of a $766 million loss that Babel Finance incurred last year due to market downturns, which resulted in the freezing of withdrawals by the lender. The new stablecoin, also called Hope, is set to be backed by bitcoin and ether, two of the most popular cryptocurrencies. The plan is to maintain its value at one dollar, which will allow traders to take advantage of arbitrage opportunities when the
1 year ago
1 min read
Uniswap Labs, the development team behind the popular cryptocurrency exchange Uniswap (UNI), has announced the introduction of a new mobile wallet. However, the launch of the wallet on Apple’s iOS platform has been halted, with the tech giant yet to approve it. In a statement, Uniswap Labs revealed that it has submitted its mobile app for iOS months ago and that it is 100% compliant with Apple’s specifications. Despite this, the launch of the wallet on iOS is currently “in limbo” as Apple has not given the green light. Uniswap Labs is now offering a limited early release of the
1 year ago
1 min read
Coinbase, the popular cryptocurrency exchange, has announced the acquisition of One River Digital Asset Management, an institutional digital asset manager that is registered with the U.S. Securities and Exchange Commission (SEC). The financial terms of the deal have not been disclosed. Following the acquisition, One River Digital will be rebranded as Coinbase Asset Management (CBAM) and will become the backbone of Coinbase’s investment advisory service for institutional clients. In a blog post on Friday, Coinbase said that the acquisition is a strategic move to bolster its offerings and expand its services. Coinbase has been ramping up its efforts to cater
1 year ago
1 min read
The push for the US government to embrace cryptocurrencies is gaining momentum, with more industry executives joining the call. Ripple CEO Brad Garlinghouse is the latest to speak out against the government’s crackdown on digital assets. He warns that if the US doesn’t create a regulatory framework for cryptocurrencies, the industry will continue to move offshore, leading to a loss of innovation and economic growth. Garlinghouse believes that the Securities and Exchange Commission’s case against Ripple is not just about XRP but the entire industry. The recent wave of SEC enforcement actions is not a healthy way to regulate an
1 year ago
2 mins read
HyperPlay, a new Web3-native game launcher with a built-in crypto wallet, has announced its early access launch. The online game launcher was built in collaboration with crypto wallet provider MetaMask and aims to integrate players’ crypto wallets with game libraries such as Epic Games Store, GOG, and its own HyperPlay Store. Founded by former MetaMask operations lead JacobC.eth, HyperPlay does not charge developers any commissions and instead plans to rely on crypto services such as swaps and bridges to monetize the platform. With the newly launched alpha version of the platform, users can create new MetaMask wallets within its interface
1 year ago
2 mins read
Robinhood Markets Inc., a Nasdaq-listed company known for its equity and cryptocurrency trading app, has received an investigative subpoena from the US Securities and Exchange Commission (SEC) related to its cryptocurrency trading and handling practices. The company disclosed this information in its annual 10-K filing on financial performance submitted to the SEC on Monday. The subpoena is related to Robinhood’s “cryptocurrency listings, custody of cryptocurrencies, and platform operations,” according to the filing. The company said it received the subpoena in December, as the SEC increased its scrutiny of the cryptocurrency industry following a series of bankruptcies in 2022. Robinhood said
1 year ago
1 min read
Eclipse, a blockchain development firm, has announced the upcoming release of Polygon SVM, a new blockchain that is compatible with Solana and built for the Polygon network. The aim of this new blockchain is to enable Solana developers to migrate their applications to Polygon without having to rebuild their code for the Ethereum Virtual Machine (EVM). Polygon SVM, a sovereign rollup blockchain, will use SeaLevel Virtual Machine (SVM) to deploy Rust-based Solana applications on other blockchains. The Polygon SVM testnet is expected to launch in Q1 2023, with the mainnet set to follow in Q2. With Polygon SVM, Solana smart
1 year ago
1 min read
Estates of cryptocurrency companies Voyager and FTX have reached an agreement on disputed loan payments worth $445 million, as revealed in Wednesday’s filings. Alameda Research, the trading division of FTX, filed a lawsuit in January to recover loan repayments made to Voyager before its own bankruptcy filing. As per the agreement, Voyager will retain the funds under dispute until a court order or final settlement is reached. In addition, Voyager will hold a $5 million deposit from FTX without distribution until the ownership of the deposit is settled. During the hearing, Voyager’s lawyers revealed that they were in the process
