Author Archives: TheBlock.co

Crypto wallet provider MetaMask has launched a new feature that will aggregate bridge services for users who want to transfer their crypto across different chains. The release is in the beta stage, and MetaMask said in a blog post that the service is part of its newly launched portfolio app. Bridging in crypto involves the transfer of[Read more…]

Bebop, a decentralized finance (DeFi) aggregator, is set to launch services on the Polygon blockchain network. Launched in June and incubated by leading crypto market maker Wintermute, Bebop currently boasts a 30,000 member strong Ethereum based token-trading platform. With its new Polygon-based services, Bebop hopes to take advantage of lower transaction fees, greater scalability, and a[Read more…]

One of the largest trading firms operating in the crypto space believes a “budding uptrend” is forming in the volatile market for digital assets.  In a Twitter thread, Cumberland—the crypto unit of trading powerhouse DRW—said that the uptrend is underpinned by what it says is a weakening U.S. dollar and the adoption of cryptocurrencies by new[Read more…]

Crypto markets were sent into a frenzy — in line with broader financial markets — as Jerome Powell delivered his press conference following the U.S. Federal Reserve’s latest 75-basis-point interest-rate increase.  Bitcoin slumped 2.8% following the Fed chair’s remarks and was trading at $20,107 at 8 a.m. ET, according to CoinGecko data. Meanwhile, ether was[Read more…]

Facebook parent Meta has integrated decentralized data storage protocol Arweave to permanently store digital collectibles from Instagram. “Instagram users are now able to issue digital collectibles for their posts, stored on Arweave,” Sam Williams, founder of Arweave, tweeted on Thursday. Meta’s lead of commerce, fintech and web3, Stephane Kasriel, also confirmed the Arweave protocol integration in a separate tweet.[Read more…]

Payments firm Stripe is firing 14% of its workforce as layoffs continue at fintech and crypto companies. The company cited the macroeconomic environment and falls in funding for startups. The cuts were shared in an email with employees. Founders Patrick and John Collison took the blame for the decision.  “We overhired for the world we’re in, and[Read more…]

In Meta’s latest bid to expand into the crypto ecosystem, Instagram will soon host a marketplace for NFTs starting with support for Polygon, the company announced. The features are live with a small group of creators in the U.S. and will be expanded to other countries soon. Support is also live for Solana’s Phantom wallet, Meta[Read more…]

Robinhood reported a third-quarter net loss of $175 million, beating the analyst consensus estimate of a $311 million loss, according to FactSet data. Shares rose more than 4% in after-hours trading. The retail investing platform’s adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) was back in the black this quarter, totaling $47 million. This beat[Read more…]

Aera, a treasury management protocol, has announced the launch of treasury optimizing vaults for decentralized autonomous organizations (DAOs) on Polygon. Aera says its goal is to enable crypto projects to manage their token reserves in a more efficient manner. The current bear market has made treasury management a major concern for DAOs. Their treasuries have declined[Read more…]

The Monetary Authority of Singapore (MAS) successfully completed a cross-currency transaction involving tokenized Japanese yen and Singapore dollar deposits as part of a pilot exploring the potential of DeFi applications in wholesale funding markets. DBS Bank, JPMorgan and SBI Digital Asset Holdings participated in the foreign exchange and government bond transactions against liquidity pools comprised[Read more…]