19 November

“The largest cryptocurrency by market value was down 4.2% over the past 24 hours to around $57,800, after failing to sustain an all-time high around $69,000 last week. If further declines materialized, the next level of price support is seen around $53,000, which could then stabilize the pullback.

For bitcoin, upside momentum continues to slow on the daily price chart, suggesting continued profit-taking among buyers. And the relative strength index (RSI) on the daily chart is not yet oversold, which provides scope for further downside in BTC over the short-term.”

See Also: Traders say Bitcoin’s drop to $57K is an ‘attractive entry’ for hodlers

The influential blockchain infrastructure company on Thursday launched an NFT API that it said will bridge assets like CryptoPunks with websites, social media and other non-crypto-native platforms. The new product line makes it easier for developers to integrate NFTs with the wider digital world.

Our goal here is to make NFTs accessible to any developer. Think of it as Web 3 meets Web 2.”

See Also: Investors Offer OpenSea $10B Valuation in New Round: Report

The league said it’s pairing tickets purchased at select games with “Virtual Commemorative Tickets” sent as NFTs to eligible Ticketmaster wallets.

The league also released its first batch of commemorative NFTs through Ticketmaster and Polygon on Thursday, which include 125 different collectibles for each of the league’s 32 teams.”

“Maple Finance, a lending platform that specializes in liquidity pools made up of institutions, announced on Thursday that it launched its first decentralized finance (DeFi) syndicated loan for Alameda Research, the trading firm affiliated with global cryptocurrency exchange FTX.

These loans tend to be denominated in the billions and are spread out among several lenders to mitigate the risk in case the borrower defaults. In this instance, a whitelisted cohort of lenders including CoinShares, Abra and Ascendex have committed $25 million in capital at launch, with planned growth to $1 billion over 12 months.

Maple describes itself as ‘an institutional capital marketplace built on the Ethereum blockchain.’ Unlike “traditional DeFi,” which relies on collateral that can be slashed in the event of underpayment, Maple allows users to issue uncollateralized or under collateralized loans to known entities based on reputation.

What’s really important about it is that it provides firms with a way of directly accessing capital markets and institutional investors so that they can raise debt for themselves. This is completely different to the way things have been done before.”

See Also: Switzerland’s Six Digital Exchange Launches With Blockchain Bond

“A bipartisan group of U.S. lawmakers have introduced a bill to amend the crypto-related provisions in the bipartisan infrastructure bill signed into law earlier this week.

The “Keep Innovation in America Act,” introduced Thursday, would amend the definition of a crypto broker included in the Infrastructure Investment and Jobs Act. The bill also seeks to modify a provision of the new law that amends section 6050I in the tax code, as well as address transactions between brokers and non-brokers.

We can fix these poorly constructed standards and ensure they are compatible with how this new technology actually works.

Coin Center, the Blockchain Association, the Crypto Council for Innovation, the Electronic Frontier Foundation, the National Taxpayers Union, the Association for Digital Asset Markets, Americans for Tax Reform and the Chamber of Digital Commerce all released statements supporting Thursday’s bill.”

Under the partnership, the magazine will be launching a TIME 100 Companies list for the metaverse, and issuing a weekly newsletter dubbed Into the Metaverse. The deal is completely financed through ether, which TIME will hold on its balance sheet.

The magazine will also host educational resources on the metaverse on a new webpage, called TIME for Learning, which will launch in December.”

“The first coveted Polkadot parachain slot was won by decentralized finance (DeFi) platform Acala after days of jockeying for first place with Moonbeam, an Ethereum compatibility layer.

This opening batch of five Polkadot parachains will be auctioned off by mid-December and then all the projects will go live simultaneously on Dec. 17.”

“The Internal Revenue Service’s (IRS) Criminal Investigation Unit (CI) unit seized $3.5 billion in cryptocurrency during fiscal 2021, which accounted for 93% of its criminal investigation seizures, according to the agency’s annual criminal investigation report published Thursday.

The seizures included $1 billion in crypto tied to the darknet market Silk Road. That action is the largest crypto seizure ever by the U.S. government.”