Flare Networks CEO Explains FIP01 Proposal, Urges XRP Community to Look Beyond Emotions

• Flare Networks CEO Hugo Philion shared his perspective on Flare’s FIP01 proposal, which aimed to improve the token distribution model, lower inflation, and promote network usage.
• Philion acknowledged that some people may feel misled by Flare, but emphasized that they are committed to XRP-related projects and that XRP holders are only receiving FLR for merely holding it.
• Philion’s architecture was heavily influenced by Bitcoin and aims to give infrastructure builders more tokens than they previously thought they would receive as compensation.

Flare Networks, the venture-backed project built around the XRP ecosystem, recently released its FIP01 proposal, which sparked a wave of controversy within the community. The proposal sought to improve the token distribution model, lower inflation, and promote network usage. Hugo Philion, CEO of Flare Networks, recently shared his perspective on the proposal and his thoughts on the current state of the XRP community.

Philion began by noting that he understood why some people were upset about FIP01, claiming it felt like a betrayal. He then listed a number of the issues they were facing, but clarified that the goal was not to dismiss these emotions but to address the previous model’s shortcomings to make the transfer of tokens from individuals who don’t want them long-term to those who do easier. The architecture of Philion’s proposal, according to the company, was heavily influenced by Bitcoin. The architecture aims to give infrastructure builders more tokens than they previously thought they would receive as compensation.

Philion went on to emphasize that Flare has been “the only significant VC-backed project built around the XRP ecosystem” and that XRP holders only received FLR for merely holding it. He noted that it had been challenging to persuade venture investors of their commitment to XRP-related projects for them to acquire funding, but that he was proud of the final result. Philion concluded with a call for the community to look beyond their emotions and understand the goals of the proposal and the technical aspects of it.

Overall, Philion’s tweet provided an insightful perspective on Flare’s FIP01 proposal and the state of the XRP community. He acknowledged the controversy and emotions around the proposal, but urged the community to look beyond these emotions and understand the motivations and technical aspects behind the proposal. Philion’s commitment to the XRP community and his willingness to clearly explain the goals of the proposal are admirable, and it will be interesting to see how the community responds.

Genesis Global’s Trading Wing Active Despite Bankruptcy Protection

Bullet Points:
1. Out of Genesis Global’s total assets of $414M, 74% are Ethereum (ETH) and ERC-20 tokens.
2. 11% of the assets are distributed mainly between Avalanche, Fantom, and BNB Smart Chain.
3. Genesis Global’s trading wing continues to remain active on the markets despite the filing for bankruptcy protection.

Genesis Global, a crypto lending firm, has recently filed for bankruptcy protection, however, its trading wing remains active on the markets. According to on-chain data from Jan. 23, the firm’s total assets amount to over $414 million, of which 74% are Ethereum (ETH) and ERC-20 tokens. Specifically, 51.4% of the assets are ETH while 32.68% are USDC, a fiat-pegged stablecoin issued and managed by Centre. In addition, there are decent chunks of COMP, the native token of Compound, Sand of The Sandbox metaverse project, and APE, the native coin of ApeCoin, an NFT project associated with Bored Ape Yacht Club (BAYC).

Furthermore, around 11% of the total assets are marked as “others”, which mainly consists of assets distributed between Avalanche, Fantom, and BNB Smart Chain. These “other” assets include portions of synthetix (SNX), BUSD, and other crypto assets. Despite the filing for bankruptcy protection, the trading wing of Genesis Global continues to remain active on the markets and is not subject to chapter 11. This was confirmed with a statement released by the firm: “Genesis’s other subsidiaries involved in the derivatives and spot trading and custody businesses and Genesis Global Trading are not included in the filing and continue client trading operations.”

Overall, the crypto assets of Genesis Global have benefited significantly from the market-wide recovery that has taken place in January. This is evidenced by the fact that the total assets have swung from $9.7 million to the current value of over $414 million.

Argo Blockchain Reaches Nasdaq Compliance, Strengthens Financial Position

• Argo Blockchain regained compliance with Nasdaq Listing Rules after fulfilling the required minimum bid price of $1.00 per share.
• The firm got a notification from Nasdaq’s Listing Qualifications Department on January 13, 2023, confirming the successful compliance.
• Nasdaq has now closed this deficiency matter.

Argo Blockchain, a major cryptocurrency mining company, has fulfilled the minimum bid price requirement for Nasdaq Listing Rules and regained compliance with the American stock exchange giant. On January 23, 2023, the firm received a notification from Nasdaq’s Listing Qualifications Department stating that their ARBK shares had maintained the required minimum bid price of $1.00 for ten consecutive trading days.

This compliance was achieved after Argo received a notice from Nasdaq on December 16, 2022, stating that the company’s stock had closed below the minimum $1.00 for 30 consecutive trading days. As a result, the firm was required to rectify the situation by June 12, 2023, and had been making efforts to do so. Having fulfilled the requirement, Argo stated that Nasdaq confirmed the matter to be closed.

Prior to the latest announcement, Argo had faced liquidity issues and was at risk of filing for bankruptcy. The firm had asked the UK Financial Conduct Authority (FCA) to restore trading of its ordinary shares on the London Stock Exchange in order to strengthen its financial standing. Additionally, Argo had announced plans to raise up to $50 million in a private placement, which would be used to fund the company’s operations and reduce its debt burden.

The successful compliance with Nasdaq’s Listing Rules is a major milestone for Argo and a testament to the firm’s commitment to restoring its financial health and stability. The cryptocurrency miner will now be able to continue its operations without the risk of bankruptcy and pursue more opportunities for growth.

Calimero Network Raises $8.5 Million to Develop Private Sharding Solutions for NEAR Protocol

• Calimero Network has raised $8.5 million in a seed round co-led by Khosla Ventures, Lyrik Ventures, and NEAR Foundation.
• The funds will be dedicated to developing private sharding solutions for the NEAR protocol.
• Powered by the NEAR protocol, Calimero gives users the choice of easily deploying ready-to-use solutions from its marketplace or building their own decentralized applications from the ground up.

Calimero Network, a blockchain infrastructure provider, recently announced the successful closure of an $8.5 million seed round led by Khosla Ventures, Lyrik Ventures, and NEAR Foundation. This influx of capital will be dedicated to the development of private sharding solutions for the NEAR protocol.

The NEAR protocol is a sharded, proof-of-stake-based blockchain platform that enables the quick and secure transfer of digital assets. Calimero Network plans to leverage the power of this protocol to provide users with a range of private, customizable shards for enterprises. By deploying ready-to-use solutions from its marketplace or building their own decentralized applications from the ground up, users can quickly connect to private and public Web3 applications like NFTs, DeFi, and more, without sacrificing confidentiality.

The closure of the seed round comes at a time when web3 startups have seen a surge in funding. Despite the devastating crypto winter, web3 startups raised more than $7 billion last year, and that trend has continued in 2023. On Jan. 20, reports emerged that web3 startup Obligate (formerly FQX) had secured $8.5 million from Circle Ventures, and others, to build a new blockchain-based bond issuance platform.

Calimero Network is aiming to provide users with a comprehensive platform that allows them to easily develop and deploy privacy-oriented decentralized applications. The funds raised in the seed round will give the team the resources it needs to make this a reality. With the development of private sharding solutions, users will be able to experience the power of the NEAR protocol in a secure and private environment.

The team also plans to use the funds to bring its platform to a larger audience. Calimero Network is confident that its offerings will be able to meet the needs of both developers and enterprises, and with the support of its investors, it is looking forward to making a lasting impact on the blockchain landscape.

Overall, Calimero Network’s fundraising success is a testament to the potential of the NEAR protocol and the growing demand for secure and private blockchain solutions. With the development of private sharding solutions, the team is hoping to provide users with a reliable platform for developing and deploying decentralized applications.

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FTX Scandal Spurs Investors to Seek Safer Crypto Options

• Jeremy Allaire, co-Founder and CEO at Circle, shared his thoughts on the state of the market following FTX during the World Economic Forum in Davos, Switzerland.
• Circle has seen increased activity on its USDC stablecoin, due to its regulated and transparent nature, allowing users to verify the company’s reserves through an independent monthly audit.
• Although some investors have pulled out of crypto, Allaire believes that the FTX scandal has incentivized them to look for safe ways to navigate digital assets.

At the World Economic Forum in Davos, Switzerland, Circle’s co-Founder and CEO Jeremy Allaire shared his views on the state of the market following the FTX scandal. This scandal, which resulted in the bankruptcy of FTX, has caused investors to become warier of risks in the crypto market.

As a result, many investors have pulled out of crypto and are looking for safer ways to navigate digital assets. However, in spite of this, Circle has seen increased activity on its USDC stablecoin, due to its regulated and transparent nature. USDC enables users to verify the company’s reserves through an independent monthly audit.

Daily transactions carried out with Circle’s USDC on the Ethereum network have seen a significant increase in recent times, with the number of transactions with USDC often surpassing that of USDT several times over. This increased activity is likely due to Circle’s focus on transparency and oversight, which gives investors added confidence in the stability and reliability of USDC.

When asked about the potential fallout of the FTX scandal in 2023, Jeremy Allaire confirmed that many companies in the crypto space would not survive due to poor risk management and the inability to raise funds. However, Allaire also believes that this scandal has enabled investors to become more aware of the risks associated with the crypto market, as well as incentivizing them to look for safe ways to navigate digital assets.

Overall, Allaire’s comments highlight the importance of transparency and oversight in the crypto market. This is a lesson that many companies in the space have been forced to learn, as investors have become increasingly wary of the risks associated with digital assets. As the FTX scandal has shown, companies must ensure that they are providing the highest level of transparency and oversight to ensure investors’ trust in their product.

Uniswap Launches Permit2: Enjoy Gasless Token Approvals Now!

• Uniswap Labs has released Permit2, a smart contract that allows users to enjoy gasless token approvals.
• Permit2 reduces the cost burden for users occasioned by the need for continuous approvals on the same token when Uniswap rolls out a new update to its router.
• With Permit2, users only need to pay a one-time gas fee to approve a token for trading.

Uniswap Labs has unveiled its latest innovation, Permit2, a smart contract that allows users to enjoy gasless token approvals. This newly released technology is designed to reduce the cost burden for users, who previously had to continuously approve the same token each time Uniswap rolled out an update to its router.

Permit2 is an innovative way of approving tokens for trading on the popular DEX without having to pay a transaction fee each time. The token approval process is an important step in the DeFi space, allowing an app to spend tokens from a user’s wallet. Now, users only need to pay a one-time gas fee to approve a token for trading, saving time and money.

The launch of Permit2 is part of Uniswap Labs‘ mission to improve the user experience by reducing transaction costs while improving smart contract security. With Permit2, users no longer need to re-approve tokens each time the router is updated, making it easier and more cost-effective to trade on Uniswap.

Uniswap Labs is committed to making token approval simpler and more secure for users. By continuing to introduce new technologies and services, Uniswap Labs is making it easier and more affordable to trade on the DeFi space. With Permit2, users can enjoy gasless token approvals and save on transaction costs, making Uniswap an attractive option for traders.

Stablecoins: The Perfect Investment Tool for the Next Bull Market

• Stablecoins can provide investors and users with a way to hedge against market volatility during bull markets.
• Stablecoins can facilitate trades by providing a stable medium of exchange for buying and selling other cryptocurrencies.
• Stablecoins are pegged to a fiat currency or other stable asset, allowing investors to lock in gains without selling their assets when other cryptocurrencies are rising quickly.

The emergence of stablecoins has revolutionized the cryptocurrency realm and provided investors and users with novel means of investment and transaction. As the next bull market approaches, it may be worthwhile to consider the potential role of stablecoins and how they can be used to maximize gains and hedge against volatility.

Stablecoins offer the dependability of fiat money and the convenience of blockchain-based networks. During a bull market, the value of cryptocurrencies and other assets can increase rapidly, creating significant volatility in the market. Stablecoins can help investors mitigate this volatility by allowing them to move their assets into a stablecoin, which is pegged to a fiat currency or other stable asset. This allows them to benefit from the bull market without having to worry about a sudden crash in the prices of their holdings.

Stablecoins can also help facilitate trades during bull markets. As their value does not fluctuate as much as other cryptocurrencies, they are an attractive option for traders who want to make trades without worrying about the market’s volatility. This makes stablecoins an ideal medium of exchange for buying and selling other cryptocurrencies.

Moreover, since stablecoins are pegged to a stable asset, their value does not fluctuate as much as other cryptocurrencies. This allows investors to lock in gains without selling their assets when other cryptocurrencies are rising quickly.

All in all, stablecoins can provide investors with a secure and reliable way to participate in the bull market while also protecting their portfolio from the volatility that can occur when markets rise rapidly. By offering a stable medium of exchange for trading and allowing investors to lock in gains, stablecoins can help maximize investors’ returns and provide a hedge against market fluctuations.

Pokee Buys 69 DeGods NFTs, Boosts Solana’s Trading Volume

• A bored ape whale collector, under the pseudonym “Pokee”, has recently bought 69 DeGods NFTs in one bulk purchase, spending close to $1 million.
• The purchase was made using a tool that allows buyers to ‘sweep the floor’ and purchase any amount of NFTs from a project.
• The purchase was aimed at supporting DeGods’ highly anticipated move to Ethereum, and the transaction was initiated and approved three days after Pokee’s tweet got 1,000 likes.

A bored ape whale collector under the pseudonym „Pokee“ recently made a huge purchase of 69 DeGods NFTs, spending close to $1 million in the process. The purchase was made using a tool that allows buyers to ’sweep the floor‘ or purchase any amount of NFTs from a project. Pokee initially promised to sweep the 69 NFTs after his tweet got 1,000 likes, and the tweet garnered almost 3,000 likes at the time of writing.

Pokee, in an interview, explained that his goal with the investment was to bridge them to Ethereum. He added that he could not invest more of his wealth into Solana due to on-chain dangers, but that he had been having fun in Solana on little NFTs and mints. He claims that he controls a private crypto fund and owns Pokeee.eth wallet that safely keeps three valuable Bored Ape Yacht Club NFTs and other NFT collectibles.

Magic Eden initially allowed only a maximum purchase of 50 NFTs, but Pokee requested them to increase the swipe option to 69 NFTs, claiming that a 50 NFTs limit is „of ultimate inconvenience“. Later, Magic Eden updated the sweep functionality to allow a larger mass sweep of NFTs.

DeGods & Solana’s trading volume has increased since the purchase. DeGods launched in summer 2020 and is a decentralized digital asset trading platform based on Solana blockchain. It has already gained massive popularity among crypto traders, and the purchase by Pokee will only serve to further increase the trading volume on the platform.

Pokee’s purchase is a great example of the power of NFTs and their potential to revolutionize the world of digital asset trading. It is also a testament to the potential of the Solana blockchain, which is proving to be a viable option for digital asset trading. With more and more whales investing in DeGods and Solana, it’s only a matter of time before the platform becomes a major player in the digital asset trading space.

Regulation Will Help Crypto Markets: Kelvin O’Leary

•Renowned crypto personnel Kelvin O’Leary believes that regulation will help crypto markets.
•He believes that the U.S. Senate hearings and regulations will force players in the crypto space to try to do everything right.
•He believes that a firm’s native tokens should be better regulated, as they are the core root of fraud carried out by these exchanges.

Kelvin O’Leary, a renowned crypto personnel, recently shared his views on the crypto market and its regulation in a recent interview with Kitco news on Youtube. O’Leary believes that the current peak of regulation in the sector will make the crypto market more enjoyable than ever, and will help ensure that another FTX-like collapse does not happen. He believes that the U.S. Senate hearings and regulations will force players in the crypto space to try to do everything right, and that a much better-regulated crypto market will likely show up due to more watchdogs wanting to look into the sector.

O’Leary also asserts that all the drama regarding unregulated exchanges and tokens would soon disappear, leaving a better market for every crypto lover. He believes that a firm’s native tokens should be better regulated, as they are the core root of fraud carried out by these exchanges. He believes that regulators will eventually launch a passport system in major markets that would help bring about more transparency and trust in the crypto markets.

O’Leary believes that a well-regulated crypto market will help ensure that investors do not feel the need to worry about their investments and that the industry will be much more secure and dependable. He also believes that a regulated market will bring in more institutional investors, which can only be beneficial for the crypto market. As such, O’Leary believes that regulation is crucial for the crypto market, and that it should be embraced in order to ensure its growth and success.

WEF Urged to Prioritize Crypto Regulations at 2023 Davos Summit

• The CEO of the financial management company deVere Group, Nigel Green, has cautioned that the World Economic Forum (WEF) will ‘spectacularly fail’ if the agenda item for the Davos summit in 2023 on crypto regulation is not addressed.
• Green has pointed out that several industry-related occurrences have made laws necessary, emphasizing the need for passing the relevant rules due to institutions‘ rising usage of digital assets.
• Nigel Green is a staunch supporter of cryptocurrencies and an advocate for regulations, and has urged the European Union to consider a full-scale cryptocurrency adoption seriously.

The CEO of the financial management company deVere Group, Nigel Green, has recently taken a stance on the World Economic Forum (WEF) and the need for crypto regulations. He believes that if the topic of crypto regulation is not addressed at the Davos summit in 2023, the WEF will “spectacularly fail.” This is due to the increasing number of individual and institutional investors, like community trusts, pension funds, hedge funds, investment funds, and mutual funds, who have taken an interest in cryptocurrencies.

Green has also pointed out that regulations are now required in order to protect these investors from high-profile bankruptcies and fraud instances in the sector. He has taken a strong stance in advocating for regulations in the crypto space, and has even urged the European Union to consider a full-scale cryptocurrency adoption seriously.

Green is hopeful that the WEF will seize the opportunity to create meaningful change and help to protect investors, and is encouraging attendees to pressure their respective governments to prioritize cryptocurrency regulations. He believes that now is the time to take action rather than “talk the talk”, and he is certain that the WEF will become a more effective organization if they focus on crypto regulations.