CoinQue Chronicles
Crypto Market News At a Glance:
Weekly round-up of the most exciting pieces of news from the cryptocurrency, blockchain, and Web 3.0 space
Opensea Launches First Royalty Enforcement Tool Amid NFT Marketplace Drama
Non-fungible token (NFT) Marketplace OpenSea joined the ongoing NFT royalty debate announcing its first royalty enforcement tool. The goal of the tool is to make creator fees, also known as royalties, enforceable on-chain, and Will apply to new collections listed on the platform starting nov. 8. Any collection created using the tool will be blacklisted from being resold on marketplaces that don’t enforce royalties like X2Y2 and Blur. Read the full report here
Indian Crypto Exchange Wazirx Introduces Profit, Loss Function
WazirX, India’s largest cryptocurrency exchange by trade volume, has introduced a profit and loss (P&l) function for users to analyze and calculate their investments. Wazirx users will view their portfolios with the absolute P&L, average buy for every asset, as well as customize the “P&L view” for the tokens. The WazirX calculator takes into consideration average buy price, invested value, and unrealized P&L. Read the full report here
Binance Acquiring FTX Takes U-turn ! Why did CZ Backout From the Deal?
Binance is reportedly not likely to proceed with the FTX exchange deal, according to persons close to the companies. While due diligence was part of the non-binding acquisition agreement, Binance is reportedly unhappy with FTX’s balance sheet. Following a day of an intense closer look at FTX’s financial statements, the largest cryptocurrency exchange is distancing itself from the saga. Read the full report here
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Dubai To Establish Crypto Regulatory Framework Before Year-end
Crypto investors find Dubai, the most populous city in the United Arab Emirates, a haven. The government is heavily recruiting crypto companies to establish themselves on this premise. In Dubai, the Virtual Assets Regulatory Authority (VARA) is responsible for the regulatory framework of the cryptocurrency industry. Similarly, VARA is a full-fledged regulator tasked with governing, regulating, and licensing cryptocurrencies, NFTS, and other virtual assets. Read the full report here
Solana TVL Drops 32.4% As FTX Turmoil Rocks Ecosystem
The Total Value Locked (Tvl) On the Solana chain has plummeted 32.4% in the last 24 hours, as news stemming from the collapse of FTX has sent waves through the crypto ecosystem. According to Defillama, Solana's TVL has fallen to $423.68 million, down 32.4% in the last 24 hours, a far cry from its all-time-high (Ath) Of $10.17 Billion on Nov. 9, 2021. Read the full report here
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