6 Questions for Dawn Newton of Netki – Cointelegraph Magazine

We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and throw in a few random zingers to keep them on their toes!   This week, our 6 Questions go to Dawn Newton, co-founder and chief operating officer of Netki — a remote digital identity verification technology provider intended to facilitate compliance with KYC/AML regulations.   Dawn Newton is the chief operating officer and co-founder of Netki, the Know Your Customer and Anti-Money Laundering technology provider purpose-built for blockchain. Dawn’s work is driven by…

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Go green or go home? What the NY State mining moratorium could mean for crypto industry

On April 26, the State of New York put itself at the forefront of the regulatory struggle with crypto, as its Assembly voted for a two-year moratorium on crypto mining operations that use energy generated by fossil-fuel power plants. Depending on how one looks at it, this development could either signal a new alarming legislative trend or a trigger that would accelerate the digital asset industry’s movement toward a more sustainable path.  Moratorium with further evaluation The lower chamber of the NY state legislature, the Assembly, passed a bill that…

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NFTs, DAOs and the importance of roadmaps

this JPEG can have sex with this JPEG and make a new baby JPEG? Say what?” When CryptoPunks started out in 2017, they seemed silly to many. They were just 128 X 128 pixels. Who cares about that? They weren’t really cool until Gary Vee had a mastermind call with influencers and said, “Crypto Punks are going to be huge, go get a bunch of them.” They went in and cornered the market and raised the prices. Bored Apes was right around the same time as Gary was launching his…

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ETH gas price surges as Yuga Labs cashes in $300M selling Otherside NFTs

While the community was witness to the largest NFT mint yet, Ethereum (ETH) gas prices rose to unprecedented levels, in addition to users experiencing failed transactions due to blockchain bottlenecks. Bored Ape Yacht Club creator Yuga Labs launched a sale of Otherdeed non-fungible tokens (NFTs) that represents digital land deeds on their new venture, the Otherside metaverse. With each piece of land selling at 305 ApeCoin (APE) or nearly $5,800 at the time of the sale, Yuga Labs made $319 million after 55,000 NFTs sold out almost instantly. The Otherdeed…

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Liquidity has driven DeFi’s growth to date, so what’s the future outlook?

In mid-February 2020, the total value locked within decentralized finance (DeFi) applications first exceeded $1 billion. Fueled by the DeFi summer of 2020, it wouldn’t even take a year before it multiplied 20-fold to reach $20 billion and only another ten months to reach $200 billion. Given the pace of growth so far, it doesn’t seem outlandish to imagine the DeFi markets hitting a trillion dollars within another year or two. We can attribute this monumental growth to one thing — liquidity. Looking back, DeFi’s expansion can be defined in…

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ApeCoin slides 40% in three days despite Otherside metaverse land sale — here’s why

ApeCoin (APE) caught its bulls off-guard with APE price losing nearly 40% in just three days. No dutch auction APE’s price reached its second-highest level, hitting $27.57 on April 28, up more than 2,650% from its mid-March debut. Nonetheless, traders started unwinding their positions after Yuga Labs, the Bored Ape Yacht Club (BAYC) NFT collection’s creator, released the details of the mint of its Otherside Metaverse lands, dubbed “Otherdeed.” Yuga Labs revealed that the NFT mint would cost a flat 305 APE (~$5,250 at today’s price), in contrast to expectations…

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Smartphone text prediction guesses crypto hodler’s seed phrase

Seed phrases, a random combination of words from the BIP 39 list of 2048 words, act as one of the primary layers of security against unauthorized access to a user’s crypto holdings. But what happens when your ‘smart’ phone’s predictive typing remembers and suggests the words next time you try to access your digital wallet? Andre, a 33-year-old IT professional from Germany, recently posted on the r/CryptoCurrency subreddit after discovering his mobile phone’s ability to predict the entire recovery seed phrase as soon as he typed down the first word.…

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How regulators got it wrong

The recent European Union proposal requiring centralized crypto exchanges and custodial wallet providers to collect and verify personal information about self-custodial wallet holders shows the dangers of recycling traditional finance (TradFi) rules and applying them to crypto without appreciating the conceptual differences. We can expect to see more of this as countries look to implement the Financial Action Task Force (FATF) Travel Rule, initially designed for wire transfers, to transfers of crypto assets. The (missing) link between self-custody, control and identity The aim of the proposed EU rules is “to…

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Rari Fuze hacker offered $10M bounty by Fei Protocol to return $80M loot

Decentralized finance (DeFi) platform Fei Protocol offered a $10 million bounty to hackers in an attempt to negotiate and retrieve a major chunk of the stolen funds from various Rari Fuse pools worth $79,348,385.61 or nearly $80 million. On April 30, Fei Protocol informed its investors about an exploit across numerous Rari Capital Fuse pools while requesting the hackers to return the stolen funds against a $10 million bounty and a ‘no questions asked’ commitment. We are aware of an exploit on various Rari Fuse pools. We have identified the…

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