Newsletter - April 2023

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This is your guide to the latest important news!

Welcome to our Newsletter - Second Edition

We are excited to share with you some of the events that took place at our organization in March. We held two meetups on March 1st and March 8th, where we delved into the topic of DAOs and specifically focused on NEAR Protocol DAO.

These meetups were an opportunity for the attendees to engage with experts in the field, learn about the latest developments in DAOs and Tokenomics, and network with like-minded individuals who share a passion for this rapidly-evolving industry. They were also able to drop their questions during Q&A sessions and clarify missing answers about DAOs and Tokenomics.

Alongside IRL Events, Twitter spaces sessions were our way to connect with our community during March. We hosted various spaces and got to meet new interesting people in the field since our TT Space is open to whoever who’d like to participate with us and be an interactive speaker!

We explored a range of topics, including Uniswap, ShibaInu, and NFT on Bitcoin. These sessions provided attendees with valuable insights and the opportunity to participate in the conversation and ask questions.

Don’t hesitate to check our TT account and join our scheduled spaces!

March was also filled with external events participation! On March 5th, we had the pleasure to host a workshop introducing blockchain technology and its use cases as a Sustainable Technology during the event organized by iTBS.

On March 20th and 21st, we had a nice stay in the event organized by NMTC where we hosted different workshops. Tokenomics and NFTs were discussed and explained to the attendeed by our Project Manager, Talel Ben Ghorbel and Our CTO Hatem Azaiez.

Did you get to read our NFTease Articles?

Going through different NFT collections, our team has explored this month Axie Infinity Performance , and the Bored Ape Yacht Club collection Performance.

Our latest performance report was about Pudgy Penguins NFT!

You can find more about these reports on our LinkedIn profile!

On March, Bitcoin's Dip Below $19K Linked to Technical and Fundamental Factors

Bitcoin's recent dip below $19K can be attributed to two main factors - technical and fundamental. Firstly, most cryptocurrencies, including Bitcoin, failed to break through a resistance price area of around $25,000. This technical hurdle has resulted in a market correction, dragging down the prices of all major cryptocurrencies.

Secondly, the bankruptcy announcement of one of the key players in the crypto space, Silvergate crypto, has had a fundamental impact on the market. Such news usually affects the entire crypto market, as seen in the past when FTX also crashed. This has further contributed to the dip in Bitcoin's price and the overall downward trend in the crypto market.

Iran Completes Pre-Pilot Phase of Digital Rial, a central Bank Digital Currency

The Central Bank of Iran (CBI) has taken a step forward in its plans to launch a central bank digital currency (CBDC), by completing a pre-pilot phase for a potential digital rial. The announcement was made by Mohammad Reza Mani Yekta, head of the CBI office for supervising payment systems, at the ninth annual conference on electronic banking and payment systems. He revealed that the CBI plans to expand the pilot of the digital rial in Iran's payment system, but emphasized the importance of not rushing its implementation.

Dubbed the "crypto rial," Iran's digital rial is pegged to the national currency at a 1:1 ratio and runs on a platform called Borna, developed using IBM's open-source enterprise blockchain platform, Hyperledger Fabric. The CBI's research arm, the Monetary and Banking Research Institute, has completed the preliminary research for the launch of the digital rial. The move towards a CBDC reflects Iran's growing interest in digital currencies, and will likely have significant implications for its financial system.

Cassava Network Partners with Noncustodial Wallet UniPass to Promote Crypto Adoption in Africa

Cassava Network, an African Web3 platform focused on nonfungible tokens (NFTs), gaming, and loyalty rewards, has launched its third version featuring integration with noncustodial smart contract wallet, UniPass. The partnership aims to promote the adoption of cryptocurrencies in Africa by enabling users to hold, send, and receive on-chain digital assets across multiple Ethereum Virtual Machine blockchains using email addresses instead of seed phrases and gas.

Users who create Cassava accounts can automatically sign up on UniPass and have access to holding and transacting on-chain digital assets. Cassava co-founder Mouloukou Sanoh believes that the partnership will enable African users and businesses to enter the Web3 space easily, and interact with their favorite Web2 and Web3 brands, earning both CB Coins and other on-chain rewards specified by partners.

The move towards noncustodial wallets reflects the growing interest in decentralized finance (DeFi) and the need for self-custody solutions in Africa. By partnering with UniPass, Cassava Network hopes to broaden crypto adoption in Africa and promote the use of Web3 technology on the continent

Silicon Valley Bank Collapses After Failed Leveraged Bet on US Treasury Bonds

Silicon Valley Bank (SVB) reportedly held over $5 billion worth of assets for prominent blockchain venture capitalists before its recent collapse. Among those were $2.85 billion from Andreessen Horowitz (a16z), $1.72 billion from Paradigm, and $560 million from Pantera Capital. However, Matt Huang, co-founder of Paradigm, clarified on March 11 that Paradigm currently has no balance on SVB. The financial lender, which serviced venture capital firms and tech companies, was shut down by California regulators on March 10 due to a failed leveraged bet on US treasury bonds, resulting in $1.8 billion in losses on its $21 billion portfolio.

Coinbase halts Binance USD trading on its platform

On March 13, Coinbase suspended trading for Binance USD stablecoin across all of its platforms including Coinbase.com, Coinbase Pro, Coinbase Exchange and Coinbase Prime. The exchange had previously announced this decision on February 27 via Twitter. However, Coinbase clarified that customers' BUSD funds would still be accessible and they would be able to withdraw their funds at any time.

Salesforce launches Web3 platform for building scalable and trusted NFT programs

On March 15, customer relationship management software firm Salesforce announced the limited release of its Web3 platform, designed to help companies create, manage, and deploy non-fungible tokens (NFTs) in a trusted, scalable, and sustainable way. By integrating their Customer 360 with Web3 data, brands can gain a comprehensive understanding of how customers interact with their brand across traditional and emerging digital environments. The platform offers a range of features to enable brands to create personalized, omnichannel experiences across Web2 and Web3, providing a 360-degree view of how customers interact with their NFT collections. With this new release, Salesforce aims to help brands connect with their customers in a whole new way.

$1B Class-Action Lawsuit Filed Against FTX Influencers for Alleged Crypto Fraud Promotion

On March 15, a class-action lawsuit was filed in the Southern District of Florida, Miami Division seeking $1 billion against "FTX influencers" for promoting FTX crypto fraud without disclosing compensation. The lawsuit, led by Edwin Garrison, names eight YouTubers, the talent management company, and the agency's founder as respondents, accusing them of promoting an unregistered security in the form of a yield-bearing account (YBA) for their financial gain and/or FTX's benefit. The plaintiffs, from various countries, purchased an unregistered security from FTX in the form of a YBA and suffered damages. The lawsuit claims that there are global and national classes of plaintiffs representing thousands, if not millions, of consumers to whom FTX offered and/or sold YBAs.

Binance CEO denies market manipulation accusations made by CFTC

Changpeng “CZ” Zhao, CEO of Binance, has dismissed allegations of market manipulation by the Commodities Futures and Trading Commission (CFTC). CZ argued that Binance ``does not trade for profit or 'manipulate' the market under any circumstances." The CFTC filed a lawsuit against Binance and CZ, accusing the crypto exchange of engaging in improper compliance procedures and trading. The complaint stated that Binance traded on its own platform using 300 “house accounts'' and did not make proper disclosures to customers about trading in its own market in its Terms of Use. CZ refuted claims of insider trading and stated that Binance has a 90-day no-day-trading rule for employees.

Keep an eye on our socials to stay ahead of our updates! Much news is coming soon!