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Web3 social infrastructure startup CyberConnect raises $10 million in seed funding

CyberConnect, a crypto startup developing tools for Web3 social media, gaming, and metaverse applications, has raised $10 million in a seed funding round.Sharing the news exclusively with The Block on Tuesday, CyberConnect said Multicoin Capital and Sky9 Capital co-led the round. Animoca Brands, Draper Dragon, Hashed, Zoo Capital, Smrti Lab, and Mask Network also participated in the round, among other investors. This was an equity + SAFT (simple agreement for future tokens) round, CyberConnect founder Wilson Wei told The Block. It will help the firm double its current team of

Brazilian Federal Deputy Proposes Crypto Payment Option for Workers

Brazilian Federal Deputy and congressman Luizão Goulart, has proposed a bill to make crypto a legal form of payment for workers in the public and private sector. Brazilian Federal Deputy Seeking to Legalize Crypto Remunerations Goulart’s proposal is looking to establish a new law that will allow all Brazilian workers to have an option to request their wages and salaries from their employers, in cryptocurrencies. But the bill warrants crypto payments to be made only after a mutual agreement has been reached between the workers and the employer. The translated version

CBDC Likely, But Not With Blockchain Says Former Boston Fed President

Eric Rosengren, former President of the Federal Reserve Bank of Boston made a public statement making the concept of a central bank digital currency (CBDC) for the USA a little more clear. However, be believes that blockchain will not be involved.Sponsored Sponsored In Rosengren’s comments on the potential of a US CBDC, he suggests that it will exist in the future. He also said because it would require an agreement between the White House, Congress, and the Fed, that it could take a long time. Interestingly, Rosengren clarifies that a

Your September Newsletter for All Things BitPay and Crypto

We have another month of crypto news and BitPay happenings, including an exciting new partnership, a product integration and more updates around global crypto adoption. Don’t forget to check out what ‘swap’ means and learn more about BitPay Reload in our product highlight.In This Issue:BitPay in the SpotlightUATP, a global payment network owned and operated by the airlines, has partnered with us to start accepting crypto payments and attract new business. Read the announcement here.Our CEO, Stephen Pair discusses why it’s important for the approach to crypto regulation to go

This is driving Dubai’s cryptocurrency market to do ‘fantastically well’

Dubai and the larger UAE have long been touted as rising tech and innovation hubs, providing entry points into Asia and Middle Eastern markets. With exponential developmental growth in the past decades, Dubai is now considered one of the fastest-growing metropolitan areas in the world. It would then not be surprising for some to speculate that the country could also rise up as one of the leaders in the cryptocurrency space. In a recent interview, Bittrex Global CEO Stephen Stonberg opined that Dubai is well-poised to capitalize from the growing cryptocurrency

Flare Network Review: Smart Contract Network For XRP

As the third largest cryptocurrency most people familiar with the space have heard about Ripple and they understand that it is a global payment and foreign exchange network that was designed to replace the outdated SWIFT banking network. And while it works great for that specific use case, otherwise it has shown limited usefulness in other functions.That might all be fixed however as the Flare Network has been created with the goal of improving the utility of XRP tokens by creating a network with smart contract capability for the XRP

TrustSwap Review: Making Smart Contracts Mainstream

The cryptocurrency space can be a scary place if you are not careful. There are scammers left and right, and not just in Discord and Telegram. Many cryptocurrency projects have revealed themselves to be nothing short of a ponzi scheme. Some have even ended with a rug pull – the team dumping their share of the crypto on the market and running with the cash.TrustSwap is a cryptocurrency project that is hoping to change that by using smart contracts. They want to create a new standard for initial coin offerings

Token Launches From Ethereum to Telegram: Where Do We Go From Here?

In February, United States Securities and Exchange Commission Commissioner Hester Peirce was asked to give her opinion on the SEC’s case against Telegram. She declined to comment at the time, as SEC officials do not speak publicly about ongoing enforcement actions. In late July, however, with the Telegram case settled, Commissioner Peirce gave a speech titled “Not Braking and Breaking” that pointedly questioned the approach taken by the SEC in the Telegram case. Concluding her remarks, Commissioner Peirce asked:“Who did we protect by bringing this action? The initial purchasers, who

dYdX Full Guide: A DeFi Margin DEX

DeFi protocol dYdX might seem like another trading and lending platform based on Ethereum, but that’ only the tip of the iceberg. Probing further, you’ll find out that this protocol is challenging the status quo to take Decentralized Finance to new heights. Margin trading, derivatives, and options are the relevant tools that power traders use. Unfortunately, in the crypto space, these tools are mostly available only on centralized exchanges like Binance, Huobi, and Kraken. With dYdX, the entire traditional trading spectacle is now built in a permissionless and decentralized mechanism. Table

Bitcoin is not Completely Banned in China: Beijing Arbitration Commission

China has no reservation against ‘Bitcoin activities as virtual commodities,’ the Beijing Arbitration Commission (BAC) said in a report today. The report also added that the country’s laws and regulations ‘do not prohibit’ private possession and legal circulation of BTC.Bitcoin Is Not A Currency, But A ‘Virtual Commodity’Today local non-profit arbitration organization, the Beijing Arbitration Commission, pointed out in a report that Bitcoin cannot be used as a currency. It is not a legal tender and is not issued by China’s apex monetary authority.Overall, BTC doesn’t share the same legal