NFT trading volumes hit all-time high: $311 Million in Q1

• NFT trading in virtual worlds has seen a significant increase with 147,000 trades generating $311 million in the first quarter of 2023.
• The Otherside metaverse saw an especially high growth with its Otherdeed NFTs registering $222 million in trading volume – a 237% increase from the previous quarter.
• This growth is attributed to platforms like Yuga Labs’ Otherside and MG Land, Blur’s “airdrop seasons and farming,” as well as Yuga Labs announcing the official date of its “Second Trip” for holders of Otherdeed NFTs.

NFT Trading Volume Reaches New High

Non-fungible token (NFT) trading across virtual worlds has hit a new all-time high this past quarter according to DappRadar’s report, with 147,000 trades generating $311 million in total trading volume.

Otherside Metaverse Leads Growth

The Otherside metaverse was one of the biggest contributors to this growth, with its Otherdeed NFTs registering $222 million in trading volume – a 237% increase from the previous quarter. Notably, one Otherdeed NFT sold for 186 ETH (about $2.85 million at the time), which is the highest recorded sale for virtual land last quarter.

Yuga Labs‘ ‚Second Trip‘ Helps Boost Volume

The surge in NFT transactions could also be attributed to platforms like Yuga Labs‘ Otherside and MG Land as well as Yuga Labs announcing the official date of their ‚Second Trip‘ for holders of their Otherdeed NFTs earlier this month.

„Airdrop Seasons“ Also Contribute To Growth

Sara Gherghelas, blockchain analyst at DappRadar also noted that Blur’s „airdrop seasons and farming“ likely contributed to the rising success of these tokens over the same period.

Conclusion

Overall this report highlights just how much interest there is in virtual world ownership via NTFs while affirming that platforms like Yuga Labs are crucial to sustaining such momentum going forward.

Chinese Businessman With Ties to Steve Bannon Arrested for $500M Crypto Scam

• Guo Wengui was arrested and charged with fraud for allegedly orchestrating fraudulent schemes that bilked investors out of $1.4 billion.
• The schemes were related to GTV Media Group, the Chinese social media company formed by Guo and Steve Bannon in April 2020.
• Bannon was arrested on Guo’s yacht in August 2020 and charged with conspiracy to commit wire fraud and money laundering in connection to a fundraising effort for a US-Mexico border wall.

Chinese Businessman With Ties to Steve Bannon Arrested

Exiled Chinese businessman Guo Wengui was arrested in New York on Wednesday morning and charged with fraud for allegedly orchestrating a series of fraudulent schemes that bilked retail investors out of a collective $1.4 billion. Hours after his arrest, Guo’s luxury penthouse apartment on Manhattan’s Upper East Side caught fire, burning for two hours before firefighters were able to put out the blaze. The Federal Bureau of Investigation (FBI) is reportedly investigating the fire. The 15-room apartment is currently on the market for $32.5 million.

$500M Crypto Scam Allegations

Out of Guo’s four alleged schemes, three were related to GTV Media Group, the Chinese social media company formed in April 2020 by Guo and Steve Bannon – a longtime ally and former adviser to former U.S President Donald Trump. The three alleged schemes raised an estimated $857 million.

Steve Bannon Arrested On Yacht

Bannon was arrested on Guo’s yacht, the 152-foot-long Lady May, in August 2020 and charged with conspiracy to commit wire fraud and money laundering in connection to a crowdfunded effort to build a border wall between Mexico and the United States using private donations from supporters of President Trump’s campaign promises during his 2016 presidential run .

Fraud Charges For Multiple Schemes

Guo has been accused of engaging in multiple schemes that defrauded investors out of large sums of money including crypto scams worth up to $500 million dollars each time he carried out one such scheme .

Investigation Into Fire At Penthouse Apartment

The FBI is reportedly investigating the fire at Guo’s penthouse apartment which occurred shortly after his arrest due to possible suspicious activity surrounding it .

Grayscale Bitcoin ETF Hearing: Judges Express Skepticism of SEC Arguments

• U.S. Federal Reserve Chairman Jerome Powell testified before Congress on Tuesday, warning banks should be „quite cautious“ about getting involved in digital assets.
• A panel of judges appeared skeptical of the SEC’s arguments during Grayscale’s Bitcoin ETF hearing.
• Grayscale went to court Tuesday to argue the SEC’s denial of its ETF application was „arbitrary,“ telling the panel of judges that Grayscale is „asking to be regulated“ by the SEC through its conversion of GBTC to an ETF

Federal Reserve Chair Warns Banks About Digital Assets

U.S. Federal Reserve Chairman Jerome Powell testified before Congress on Tuesday, warning banks should be „quite cautious“ about getting involved in digital assets.

Judges Express Skepticism During Grayscale Bitcoin ETF Hearing

A panel of appeals court judges questioned the SEC’s logic in drawing a distinction between bitcoin spot market prices and futures market prices during Grayscale’s Bitcoin ETF hearing. Grayscale is a subsidiary of Digital Currency Group, CoinDesk’s parent company.

Grayscale Argues for Regulation Through Conversion Of GBTC To ETF

In response to the SEC’s denial, Grayscale went to court Tuesday to argue that it is “asking to be regulated” by converting its GBTC trust into an exchange-traded fund (ETF).

SEC Denial Is Arbitrary, Says Grayscale

Chief Judge Sri Srinivasan and Judges Neomi Rao and Harriet Duan all expressed skepticism towards the SEC’s arguments during the hearing on Tuesday, with Duan asking “what would you need from us?” as she pushed back against some of their objections. Meanwhile, Grayscale argued that their bid for an ETF approval was being unfairly denied due to what they called an “arbitrary line” drawn by regulators between spot markets and futures markets when it comes to pricing bitcoin investments differently between them.

Conclusion

The outcome of this case will have far reaching implications for cryptocurrency markets as well as how investors view digital assets going forward, so a decision from this appeals court could come sooner rather than later in order

Solana Network Stumbles: On-Chain Trading Slows After ‚Forking‘ Incident

• The Solana Network suffered a tech issue on Saturday which resulted in an inability to trade crypto, transfer assets, or do anything else on-chain.
• Validators rushed to remedy the issue and investigate the root cause of what was believed to be a bug in the network’s software.
• Activity has since resumed but is still slower than usual as some validators downgrade their software in an attempt to restore activity.

Solana Network Stumbles Due To ‚Forking‘ Incident

The Solana Network experienced a tech incident early Saturday morning, resulting in near complete shutdown of activity on the protocol. After validator operators and network engineers attempted to remedy the issue, it was determined that there may have been a bug in the network’s software causing it to “fork” (creating conflicting versions of its transaction history).

Transaction Throughput Falls Off A Cliff

As a result of these technical troubles, users were unable to trade crypto, transfer assets or do anything else on-chain. Transaction throughput fell off significantly from around 5000 TPS 15 minutes prior to just 93 TPS by 2am ET. This was an alarming reminder of similar issues experienced by Solana back in 2022 which led to reforms regarding how they manage incoming traffic.

Investigation Into Root Cause Underway

The Solana Foundation says that the root cause is “still unknown” and an investigation is underway. It remains unclear at this time how long it will take for full functionality and performance levels to be restored across the network.

Validators Downgrade Software In Attempt To Restore Activity

In order to get things functioning properly again, some validators are downgrading their software with hopes of restoring activity on the network more quickly than normal protocols would allow. Despite these efforts however, transactions are still much slower than average for now as work continues behind-the-scenes towards resolving this issue once and for all.

Conclusion

It appears that while activity has resumed somewhat on Solana following this incident over the weekend, it may take some time before things return fully back up and running again as expected. This event serves as yet another reminder of why blockchain networks need robust security protocols if they are going to achieve widespread adoption across various industries moving forward.

Coinbase Downgraded to Neutral: Take Profits After Big Run Higher

• DA Davidson downgraded Coinbase to Neutral from Buy after a 108% surge in stock price
• Analysts cite regulatory concerns and Q4 earnings as reasons for the downgrade
• Despite the downgrade, analysts are still bullish on Coinbase’s long-term prospects

DA Davidson Downgrades Coinbase

DA Davidson recently downgraded Coinbase (COIN) from buy to neutral, citing increasing regulatory concerns and worries about the company’s upcoming fourth quarter earnings. The stock has surged by 108% this year, pushing it past analyst Chris Brendler’s $55 price target.

Regulatory Concerns

The recent FTX debacle is raising questions among regulators and analysts alike. While it appears that there have been no major ripple effects so far, the regulatory response is just beginning. As such, Coinbase may be in a better position than others due to its higher level of clarity but Brendler warns that near-term outlook looks “increasingly treacherous.”

Q4 Earnings Worries

The upcoming Q4 earnings report could show weakness in assets under management and interest income, leading analysts to take some money off the table ahead of its release on February 21st.

Price Target Increase

Despite the downgrade, Brendler increased his price target on COIN to $60 from $55. He remains confident in Coinbase’s long-term prospects despite near-term uncertainty.

Conclusion

Coinbase shares have seen a massive surge this year alongside a broader rally in cryptocurrencies which saw Bitcoin reach an all time high of $25,000 earlier today. DA Davidson has taken a more cautious stance with their downgrade of Coinbase but remain confident in its long-term prospects despite near-term volatility and uncertainty.

Kraken Agrees to Shutter US Crypto-Staking Operations to Settle SEC Charges

• Kraken has agreed to shutter its US crypto-staking operations and pay $30 million to settle SEC charges that it offered unregistered securities.
• The SEC voted on the settlement during a closed-door commissioner meeting on Thursday afternoon, and an announcement may come later in the day.
• Kraken’s staking service offered a 20% APY, promising to send customers staking rewards twice per week, according to its website.

Kraken Agrees to Shutter US Crypto-Staking Operations

Kraken exchange has agreed to shut down its cryptocurrency-staking services for U.S. customers in order to settle charges with the Securities and Exchange Commission (SEC). The SEC confirmed this decision after a closed-door commissioner meeting on Thursday afternoon and announced they will be collecting $30 million from Kraken as part of the settlement.

SEC Charges Against Kraken

The SEC claims that Kraken offered unregistered securities through its crypto staking product, which promised up to 24% yield via lending activities. Additionally, their website advertised a 20% annual percentage yield for customers through their staking rewards program which would provide two payments per week.

Implications For Crypto Regulation

This news brings attention to how exchanges are handling security tokens which could have implications for wider crypto regulation moving forward. As more companies offer services related to digital assets, regulators may need to step in with further guidance or restrictions on how these products can be used by consumers.

Coinbase CEO Comments On Settlement

Coinbase CEO Brian Armstrong commented on the settlement saying „It’s good that this is now being resolved“ and added “I do think it’s important though that we all work together as an industry – exchanges, projects, regulators – so we can create an environment where innovation can thrive while also protecting investors” indicating his support of regulations around cryptocurrency products like those offered by Kraken.

Conclusion

This case is indicative of how companies should take caution when offering any sort of cryptocurrency related products or services in order avoid similar legal repercussions from authorities such as the SEC moving forward. It also highlights the importance of following regulations surrounding digital asset offerings and ensuring consumer protection measures are in place when engaging with potential investors or customers

Circle’s SPAC Plan Halted by SEC, Now Exploring Other Options

• Crypto payments company Circle had plans to go public via a SPAC deal, but the SEC did not sign off on it.
• The company had announced plans to go public in July 2021, with a valuation of $4.5 billion, which doubled in February.
• Circle CEO Jeremy Allaire said that the firm did not complete the SEC’s „qualification in time.“

Crypto payments company Circle had big plans to go public through a Special Purpose Acquisition Company (SPAC) deal, but they were derailed when the U.S. Securities and Exchange Commission (SEC) did not sign off on it. The company had announced plans to go public in July 2021, with a valuation of $4.5 billion, which subsequently doubled in February.

Circle CEO Jeremy Allaire took to Twitter in early December to explain that his firm did not complete the SEC’s „qualification in time“ to facilitate the move. The SEC has yet to comment on the matter.

The news of Circle going public had sent ripples through the crypto market, as the company is one of the leading firms in the payments and digital asset space. Circle is the company behind USDC, the world’s largest stablecoin, and its acquisition of SeedInvest in 2018 had further cemented its position as a key player in the crypto payments space.

The company had reportedly been in talks with several SPACs for the past few months, but the SEC’s decision to not approve the deal has put an end to those negotiations.

The news of Circle’s plans to go public had initially been met with enthusiasm from investors, but that enthusiasm has now been replaced with disappointment. Many investors had hoped that Circle’s public listing would help to further legitimize the crypto industry, but that may now not happen.

However, Circle has said that it is still committed to its goal of going public and is exploring other options. The company is hopeful that it can find a way to move forward and list on the public markets in the near future.

The SEC’s decision to not approve the SPAC deal has underscored the need for more regulatory clarity in the crypto space. It is now essential that the SEC provides more guidance on how companies in the industry can go public and list on the public markets. Without this, it is likely that many companies will be unable to pursue their plans to go public.

Digital Surge Gets Lifeline After $33M Loss, Plans to Reopen Digital Asset Trading

• Digital Surge, an Australian cryptocurrency exchange, had its digital assets frozen after losing $33 million on FTX.
• 25 prominent institutions in Australia have come together to start a research program to explore digital asset opportunities.
• Creditors have approved a long-term recovery plan for Digital Surge, bailing it out.

Digital Surge, an Australian cryptocurrency exchange, recently had its digital assets frozen after it lost $33 million on FTX, a cryptocurrency exchange that collapsed in November. As a result, the Brisbane-based exchange had passed into voluntary administration, a process in which the management hands over control to licensed insolvency practitioners who handle the assets of the company and work to provide a solution for creditors.

In order to make up for the lost funds and provide relief to creditors, twenty-five prominent institutions in Australia have come together to start a research program to explore digital asset opportunities. The research program aims to create an environment where digital assets can be traded securely and efficiently.

Michael Bacina, partner at law firm Piper Alderman, explains why Australia is the prime location to test asset digitization. He said that Australia has a robust legal and regulatory framework with access to capital and technology, which makes it the ideal place to explore what the future of digital assets looks like.

Now, after months of negotiations, creditors have approved a long-term recovery plan for Digital Surge, bailing it out and allowing the company to pay back its creditors. More than 22,000 of Digital Surge’s customers have had their digital assets frozen since November 16, and the company hopes that this new plan will help them gain access to their assets again.

Digital Surge has said that it is committed to working with creditors and regulators to ensure that customers can regain access to their assets as soon as possible. It will also be exploring other opportunities in the digital asset space and developing new products and services to give customers more options.

The company is confident that its new recovery plan will help them move forward, and that it will be able to provide a safe and secure environment for its customers to trade digital assets. In the coming months, Digital Surge will continue to work with creditors and regulators to ensure that customers can get back the assets they had frozen.

A Comprehensive Guide to Hard Drive Repair Windows 10

Repairing your hard drive is a crucial aspect of keeping a reliable and healthy computer system. It’s a difficult job, but with the appropriate tools and knowledge it is possible to fix any issues with your hard drive within Windows 10. In this complete guide, we’ll explain the process of repairing your hard drive as well as the causes of damage to the hard drive and the best way you can prepare yourself for repair of the drive, ways to restore a broken drive with Windows 10, troubleshooting common problems with hard drives, the methods to avoid damage to drives, and then an end.

What Is Hard Drive Repair?

Repairing your hard drive involves diagnosing and fixing a problem that is affecting a hard drive. If it’s a physical problem or a software problem, repair to your hard drive will help in restoring your computer to its previous working state. It also helps keep from any further damage to your hard drive and overall system.

What Causes Hard Drive Damage?

There are many different causes that could cause damage to hard drives. Damage from physical causes is by far the most frequent reason behind damage to hard drives. It could be caused by damaging the hard drive by dropping it, flooding or even a power surge. Damage to software can cause damage to the hard drive. This can be caused by issues with files, infections or damaged files.

Preparing for a Hard Drive Repair

When you attempt to repair or replace a drive, ensure you’ve got the right equipment and skills to perform the job right. You must ensure that you are equipped with the appropriate software, including an bootable disk or USB drive in addition to any other devices that might be required, like the replacement of a hard drive. It is also essential to be aware of how hard drives as well as operating systems like the Windows operating system operate.

How to Repair a Hard Drive in Windows 10

After you’ve completed the preparations for a repair of your hard drive and you’re ready to start the procedure. It’s the first thing to inspect the disk for any issues. In order to check for errors, click the Start menu then enter „disk check“ into the search box, then select“Check disk“ from the „Check disk“ option. Follow the screen-based instructions to test the disk for problems.

If the disk scan detects any issues, you can then try to repair the hard drive. In order to do that, click the Start menu then enter „disk repair“ into the search box, and then choose“Repair“ or the „Repair disk“ option. Follow the on-screen directions for repairing the hard drive.

Troubleshooting Common Hard Drive Issues

If the repair procedure isn’t able to resolve the issue there could be other issues to address. To resolve these issues, go to the Start menu then search for „troubleshoot“ into the search box, then select“Troubleshoot“ from the „Troubleshoot“ option. From here, you are able to choose“Hard drive. „hard drive“ option to identify and fix the issues that affect your hard drive.

Best Practices to Avoid Hard Drive Damage

Apart from fixing a damaged drive, it’s crucial to be aware of the steps you can take to protect your hard drive from damage. Make sure that your computer is adequately cooled and that it has sufficient power. Beware of hitting or knocking the drive as it could result in physical damages to the disk. Also, ensure that your computer is safe against viruses, since they could cause software damage.

Conclusion

Repairing your hard drive is an essential part of keeping a reliable and healthy computer system. If you have the proper tools and information it is possible to fix any issues with your hard drive with Windows 10. This guide will explain the basics of what repair for a hard drive is as well as the causes of damage to the hard drive and how you can prepare yourself for repair, the best way to fix a damaged hard drive with Windows 10, troubleshooting common problems with hard drives, the most effective methods to prevent hard drive damage, and then an end. With this guideline, you’ll be able to make sure that your PC is in good shape and be able to resolve and fix any issues with your hard drive.

How to Block YouTube Ads on Android Devices

YouTube has grown to become an extremely watched video streaming platforms worldwide with billions of users watching videos each day. It also houses millions of content creators who rely on ad revenues to fund their business. This means that viewers must endure ads while watching videos. Fortunately, those with Android devices have a variety of options to disable YouTube advertisements.

Advantages of Blocking YouTube Ads

The most important benefit of blocking YouTube advertisements is that it removes the necessity of sitting through the ads when you watch videos. This means you can relax and enjoy your preferred YouTube content without waiting for the advertisement to end. Also blocking YouTube advertisements can aid in saving bandwidth and data, as advertisements generally consume much more bandwidth to download than the video itself.

Disadvantages of Blocking YouTube Ads

Despite the benefits of blocking YouTube advertisements however, there are some drawbacks to be aware of. The first and most important is that block ads mean that the creators do not earn any money from their content which could be problematic to smaller channel. In addition, blocking ads could cause applications and websites malfunctioning because some are specifically designed to load ads to function correctly.

Understanding YouTube Ads

Before you are able to block YouTube advertisements, it’s essential to understand the way they work. The way they work is that YouTube adverts are presented to the viewers according to their demographics and the kind of content they’re viewing. Furthermore, YouTube also uses cookies to monitor user activities on the platform, which allows it to display more relevant advertisements.

Using Ad Blockers on Android Devices

The most effective way to stop YouTube advertisements for the Android device is to install ads blockers. There are many advertisements blockers in the Google Play Store which include well-known options like Adblock Plus and AdGuard. These programs are designed to stop ads from all websites and applications, including YouTube.

Manually Blocking YouTube Ads

Alternately, you can disable YouTube advertisements using Your Android device. This involves changing the DNS settings of the device. This could be quite difficult. If you decide to follow this path, it’s strongly recommended to consult an instructional guide to ensure that you are doing it right.

Using YouTube Premium

Another way to stop YouTube ads is to make use of YouTube Premium. It is a subscription of YouTube that lets users view videos without advertisements. Furthermore, YouTube Premium also offers additional features like background playback , as well as access to exclusive videos.

Conclusion

Blocking YouTube advertisements blocking YouTube ads on Android devices is an excellent option to improve your experience streaming videos. There are many options to choose from for blocking ads, such as using ad blockersor manually blocking YouTube ads, or even the use of YouTube Premium. The best choice for you is dependent on the features you want and how much you’re willing to invest.