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 French National Assembly has voted in favor of rules that will ease licensing requirements for crypto firms. This decision offers a sigh of relief for the industry as it will simplify the process for crypto firms to register with the financial regulator. The amendment proposed by Sen. Daniel Labaronne allows crypto firms to register with the financial regulator following requirements already covered by the European Union’s comprehensive regulation for crypto assets, which will enforce licensing. The vote passed with a tally of 61 in favor and 33 against. In December, Sen. Herve Maurey proposed an amendment that would have
1 year ago
2 mins read
Ethereum-based decentralized finance (DeFi) platform Curve Finance has proposed to add more gauges to its liquidity pools on the Ethereum network. The request for additional gauges came from whale addresses on the platform. The gauge system on Curve Finance measures the liquidity of a particular pool or set of pools on the platform. The gauges are used to determine a given pool’s stability fee (or interest rate), with pools with lower gauges having a higher stability fee. With gauges on Curve Finance, liquidity is distributed evenly among its pools. According to Curve Finance, the request for adding more gauges to
1 year ago
1 min read
An Indian minister, Rajeev Chandrasekhar, has announced that crypto transactions are permitted as long as they follow existing laws, which is in contrast to the Reserve Bank of India’s (RBI) ban on crypto in 2018 and ongoing reluctance to fully open up to the sector, despite the Supreme Court’s ruling in 2022 that the RBI’s ban was illegal. The Indian government is expected to present its annual budget for the upcoming fiscal year on February 1, and local crypto exchanges and investors are expecting relief from the unfriendly regulatory environment they have faced, including high taxes and denial of banking
1 year ago
1 min read
The Terra lending protocol, Mars Hub, has announced that it will launch its independent Cosmos application chain on January 31st, issue MARS tokens to users who hold it during two snapshots on Terra Classic. The mainnet will go live with 16 genesis validators and additional 34 slots for permissionless validators will be available post-launch to ensure a strong and decentralized network. To protect the network from potential attacks, 50 million MARS tokens will be delegated to genesis validators for the launch and returned to the community pool one month later. The launch is the final phase of a three-step process
1 year ago
1 min read
CoinTracker, a market leader in crypto tax and portfolio tracking for consumers, has announced a partnership with By The Book Accountancy Limited to release a series of educational content and resources for UK crypto users to simplify the complexities of tax filing in a compliant manner. The partnership comes as the UK government is considering changes to the regulation of the crypto sector and as the regulatory landscape continues to evolve. The two companies will launch a three-part Twitter Space series to help UK users prepare for tax season, with topics ranging from NFT and crypto taxes and saving money
1 year ago
1 min read
A manufacturer of electric vehicles (EVs) has announced the debut of its EV project built on the Cardano (ADA) network, set to launch in Sri Lanka. The Sri Lanka deployment of eTukTuk, the first-ever automotive project created on Cardano, was announced at the World Economic Forum (WEF) taking place in Davos, Switzerland. The eTukTuk project aims to address the infrastructure and cost issues that have previously prevented the launch of EVs at scale by building an innovative, sustainable, and “dynamic, multi-revenue model” that would incentivize the expansion of eTukTuk’s network of charging stations and EVs through Cardano. The eTukTuk team
1 year ago
1 min read
Justin Sun, the founder and CEO of Tron, has been confirmed as the head of Singapore-based crypto exchange Huobi. Sun first became a member of Huobi’s Global Advisory Board in October, shortly after Hong Kong-based investment company About Capital Management became the majority stakeholder of the exchange. While many have speculated Sun to be a shadow investor behind About Capital, representatives for Sun have confirmed that he is not an owner of the company. Sun has also confirmed that he owns tens of millions of Huobi’s HT tokens. Huobi has recently come under scrutiny due to its handling of layoffs
1 year ago
1 min read
Several crypto industry commentators have expressed skepticism about the potential reboot of FTX, a cryptocurrency exchange, due to trust issues and “second-class” treatment of customers. FTX filed for bankruptcy in November after falling into a liquidity crunch and facing accusations of criminal misconduct by its founders and former executives. FTX CEO John Ray has expressed interest in potentially reviving the exchange to make users whole, but critics believe that users may not return to the platform due to trust issues and increased regulation in the industry. Binance Australia CEO Leigh Travers and Digital assets lawyer Liam Hennessy both questioned whether
1 year ago
1 min read
JPMorgan CEO Jamie Dimon has criticized Bitcoin as a “pet rock” and a “decentralized Ponzi scheme” in an interview on CNBC’s Squawk Box. He also expressed his surprise at the failure and bankruptcy of FTX, calling it a “decentralized Ponzi scheme.” He also stated that regulators should have stopped this a long time ago and that people have lost billions of dollars. Despite his criticism of Bitcoin, JPMorgan is actively involved in incorporating blockchain technology into its services, including its token, JPM Coin, and a registered cryptocurrency wallet trademark. Dimon has a history of being skeptical of cryptocurrencies and previously
1 year ago
1 min read
Bored Ape Yacht Club (BAYC) creator Yuga Labs has taken a stand on the ongoing debate around NFT royalties by blacklisting certain addresses related to marketplaces that do not support royalties for NFTs. These marketplaces include LookRare, SudoSwap, Blur, and NFTX. Royalties are payments made to NFT creators each time their assets are sold on a marketplace. Some platforms, like OpenSea, mandate creator royalties of up to 10%, while others like LookRare and SudoSwap have made the royalties model optional. Yuga Labs’ decision affects its Sewer Pass NFT, which grants holders access to the company’s Dookey Dash interactive skill-based game.
1 year ago
1 min read
The former CEO of FTX crypto exchange is being accused of using customer funds for personal gain, such as buying luxury real estate, making political contributions, and trading at another company named Alameda. Two high-level software developers at FTX raised concerns about the missing funds, but their names have not been revealed. However, Gary Wang and Nishad Singh, who helped found FTX with the CEO, have been named in public charging documents. Both Wang and Alameda CEO Caroline Ellison have pleaded guilty to fraud, while Singh has not been charged. The U.S authorities have warned that the CEO is a
1 year ago
1 min read
On Tuesday, FTX told creditors that it had lost around $415 million worth of cryptocurrencies to hacks since it filed for bankruptcy in November. The exchange claims that $323 million was stolen by an “unauthorized third party” from FTX’s international exchange, and $90 million had been siphoned from FTX US. Another $2 million was hacked out of Alameda Research, the brokerage arm of the Bahamas-based exchange. FTX identified liquid assets worth US$5.5 billion for recovery, including US$1.7 billion in cash, US$3.5 billion in cryptocurrencies, and US$300 million worth of liquid securities. The exchange filed for Chapter 11 bankruptcy in the
