G7 to Discuss Crypto, Aave's Lens Protocol Goes Live, Terra's Team Shrinks + More News
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
- The Group of Seven (G7) political forum, which comprises Canada, France, Germany, Italy, Japan, the UK, and the United States, will likely discuss crypto regulation at a meeting of finance chiefs in Germany this week, per Reuters. The recent turbulence in the crypto market is a “wake-up call for the urgent need for global regulation”, French central bank head Francois Villeroy de Galhau was quoted as saying.
- Web3 social graph Lens Protocol by Aave (AAVE), went live on the Polygon (MATIC) blockchain today. "It is designed to empower creators to own the links between themselves and their community, forming a fully composable, user-owned social graph," they said. The project was announced earlier this year.
- Terraform Labs, the issuer of the terra (LUNA) token, has admitted that “a small number of” its employees had “left the company” in the space of “a few days” – following reports that its chief legal advisor and two other legal team members had quit the company after the recent issues surrounding it and the subsequent fallout. Yonhap quoted the firm as claiming that “most of” its employees were “firmly committed to carrying out the project’s mission. The firm added that with its “incredibly passionate community” and “clear vision of how” its ecosystem “will be rebuilt,” the future was bright.
- Auditing giant KPMG UK announced it has appointed Ian Taylor as a director within the firm’s financial services practice, to lead the firm’s crypto and digital assets team. Prior to joining KPMG, Taylor was the executive director of Crypto UK, the UK’s trade association representing more than 120 companies from across the UK digital asset sector.
- Hardware wallet Ledger is adding a browser extension for the Safari web browser called Ledger Connect that will allow users of Ledger hardware wallets to connect with Web3 applications without the need for third-party dependencies. The new feature will initially be compatible with the Ledger Nano X and Mobile Safari.
- Trading firm Robinhood plans to roll out a Web3 Wallet and claims it will have no network fees.
- Zia M. Faruqui, a US federal Magistrate Judge, wrote an opinion, in a still sealed case, explaining why he approved a Department of Justice (DOJ) criminal complaint against an American citizen accused of transmitting more than USD 10m worth of bitcoin (BTC) to a crypto exchange in a comprehensively sanctioned country. He called crypto’s reputation for providing anonymity to users a myth and added that crypto must be subject to US sanctions laws.
- Hong Kong police have arrested two men over acts of vandalism at the offices of crypto trading company One Satoshi, which were splashed with red paint, and the glasses of one venue were shattered, per the South China Morning Post. The motives behind the attack are still being investigated.
- The Consumer Prices Index (CPI) in the UK rose by 9% in the 12 months to April 2022, up from 7% in March, according to data from the Office for National Statistics. On a monthly basis, CPI rose by 2.5% in April 2022, compared with a rise of 0.6% in April 2021.
- Binance is in discussions with BaFin, the German financial regulator, to obtain a license to operate within the country, according to Bloomberg.
- On-chain data platform Nansen said it bought DeFi portfolio tracker Ape Board for an undisclosed sum. In the coming months, Nansen will onboard the Ape Board team, while the Ape Board service will remain a free and open product, they added.
- Blockchain investment firm Fortis Digital Ventures launched a digital asset fund with an altcoin focus that aims to bridge the gap between traditional and decentralized finance. The fund requires clients to have at least a USD 2.5m net worth to invest.
- Crypto asset management firm Ikigai announced the launch of its first venture fund, the Ikigai Trust Revolution Opportunities Fund, worth USD 30m. It will focus on building and investing in early-stage Web3 projects.
- Venture capital firm Andreessen Horowitz (a16z) announced a new fund called GAMES FUND ONE, which is their inaugural fund dedicated to building the future of the games industry, worth USD 600m. They said they would invest in game studios, consumer companies, and gaming infrastructure that includes the metaverse.
- Web3 education community Encode Club raised USD 5m in a funding round led by Lemniscap and Galaxy Digital. They said they intend to use the funds to further invest in hands-on events such as coding bootcamps, hackathons, accelerators, and workshops.
- Blockchain game developer N3TWORK Studios raised USD 46m in a Series A funding round led by Griffin Gaming Partners. The funding will help further the development and launch of the studio’s first two titles, they said.
- Polygon and decentralized finance accelerator DeFi.org are launching a new accelerator program. All participants will be required to build on Polygon, but those who use the infrastructure of layer 3 blockchain infrastructure project Orbs will be subject to special consideration, they added.
- Argo Blockchain generated USD 19.5m of revenue in the first quarter of this year, a 9% increase over the same period in 2021, which they say is due to their growth in hashrate throughout 2021 and partially offset by lower BTC prices in Q1 2022. The company produced a net income of USD 2.1m in this year's first quarter, versus USD 25m in Q1 2021, and explained that net income dropped year-on-year due to the market correction and increased costs, among other things.
- Digital collectibles marketplace LimeWire announced its partnership with music giant Universal Music Group (UMG) to make music-related NFTs. Artists signed to UMG can now offer audio recordings, audiovisual content, backstage footage, and any artwork and images as NFTs on the LimeWire marketplace and sell them directly to fans and collectors.
- The visual content creator and marketplace Getty Images and digital collectible company Candy Digital announced a new multi-year partnership agreement that makes Candy Digital the exclusive developer and marketplace for Getty Images NFTs.