Business

Jack Dorsey is building ‘Web5’ powered by Bitcoin

[ad_1] Block subsidiary TBD has announced plans to build a new decentralized web centered around Bitcoin (BTC), underscoring founder Jack Dorsey’s belief that the largest blockchain network will play a major role in the internet’s evolution. The new project, called “Web5,” represents the latest Bitcoin-centric endeavor to be pursued by Dorsey since stepping down as CEO of Twitter in November 2021.Whereas Web3 incorporates blockchain technology and tokenization to decentralize the internet,
Business

Number of DAOs surge, Solana launches $100M DeFi fund

[ad_1] This past week, the decentralized finance (DeFi) ecosystem was ruled by decentralized autonomous organizations and new fund launches for the growth of the Web3 ecosystem. The total number of DAOs surged by eight times while Solana launched a $100 million DeFi fund.Optimism, an Ethereum layer-2 protocol that Vitalik Buterin recently praised for its governance model, lost 20 million tokens due to a mix-up of layer-1 and layer-2 addresses. A
Business

Circle to acquire Web3 platform Cybavo, bolstering its stablecoin adoption

[ad_1] Circle, a peer-to-peer financial services firm, has agreed to acquire Cybavo, a digital asset infrastructure platform. The deal will allow Circle to provide "infrastructure as a service" for firms wanting to develop on Web3.Developers will be able to work on their products without having to worry about digital asset security, operations, or blockchain infrastructure management. According to the Friday press release, Circle and CYBAVO intend to further promote the
BUY/SELL

Bitcoin, altcoins sell-off on record-high inflation, but traders still expect BTC to consolidate

[ad_1] Global financial markets once again find themselves trending lower on June 10 after the Consumer Price Index (CPI) came in at a blistering 8.6% year-over-year increase, the highest print since 1981. The hotter-than-expected CPI print resulted in a collapse of the $30,000 support and Bitcoin (BTC) price sold off to a daily low of $28,852 before dip buyers managed to bid the price back above $29,000.BTC/USDT 1-day chart. Source: TradingViewHere’s
Business

MoneyGram’s USDC transfer service launches in several countries

[ad_1] Cross-border transfer service MoneyGram officially launched its stablecoin-powered payment channel on Friday, giving users the ability to send USD Coin (USDC) payments worldwide that can be withdrawn as cash by recipients. The service is being rolled out across several key remittance markets, including Canada, the United States, Kenya and the Philippines, Circle and MoneyGram announced Friday. Global cash-out functionality will be available by the end of June. To encourage adoption,
ALTCOIN

BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, AVAX, SHIB

[ad_1] The United States equities markets tumbled on June 10 after the Consumer Price Index (CPI) report showed inflation soaring 8.6% from a year ago, the highest increase since 1981. The latest figures show that talks of inflation having peaked were premature and according to Bloomberg, investors are pricing in the key interest rate of 3% by the end of the year.Continuing its tight correlation with the S&P 500, Bitcoin (BTC)
Business

CZ visits Palau to kick off BNB Chain-supported ID NFTs for digital residency program

[ad_1] The Republic of Palau announced Friday that it will issue identification cards to its digital residents in the form of nonfungible tokens (NFTs) on Binance’s BNB Chain blockchain. Binance founder and CEO Changpeng Zhao (CZ) was on hand in the Pacific Island nation for the unveiling of the NFTs and to meet with Palauan President Surangel S. Whipps, Jr.Palau introduced its Root Name System (RNS) Digital Residency program in
Business

Huobi Global launches $1B investment arm focused on DeFi and Web3

[ad_1] Digital asset exchange Huobi Global has spun out a new investment arm focused on decentralized finance (DeFi) and Web3 projects, further highlighting venture capital interest in the blockchain economy. Dubbed Ivy Blocks, the new investment arm has over $1 billion in crypto assets under management to deploy, a spokesperson for Huobi confirmed. These funds have been earmarked for “identifying and investing in promising blockchain projects,” the company said. In addition