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The largest non-fungible token (NFT) marketplace by trade volume, Opensea, has announced the company has let 20% of its staff go after CEO Devin Finzer said the layoffs were due to a combination of “crypto winter and broad macroeconomic instability.” Opensea’s decision follows the startup surpassing $31 billion in all-time NFT sales volume, and the
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Decentralized finance (DeFi) has massive potential to transform traditional financial services. Data from Emergen Research recently found that the global DeFi platform market size is expected to reach $507 billion by 2028. Moreover, the total value locked within DeFi currently exceeds $75 billion, demonstrating fast-paced growth compared to previous months this year. Yet, DeFi’s potential may still not be realized by
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Roughly 247 days ago, the total bitcoin futures open interest across 12 different cryptocurrency derivatives trading platforms was $26.73 billion and over the last eight months, bitcoin futures open interest has dropped 60% down to $10.69 billion. Further, the bitcoin exchange-traded funds BITO and BTF have followed bitcoin’s spot market losses, as the bitcoin ETFs
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While some ownership questions were answered, U.S. Virgin Island senators were nearly universally skeptical about a presentation at a hearing Thursday from the purchaser of a major oil refinery site that’s been plagued by financial and environmental challenges for years at a hearing Thursday. The site, Limetree Bay Refinery, and the companies operating it since
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Having been approved by the International Code Council within the 2021 International Building Code (IBC), mass timber construction stands ready to change a lot of thinking about how New York City buildings can be constructed from here forward. The newly-constructed Timber House project in Park Slope, Brooklyn, provides the latest evidence of mass timber’s potential.
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President Vladimir Putin of Russia has signed into law a bill banning payments with digital financial assets. The legislation obliges exchange operators to refuse to process transactions facilitating the use of DFAs, a legal category currently covering cryptocurrencies, as “monetary surrogates.” President Putin Approves Legislation Banning Digital Asset Payments in Russian Federation Russian President Vladimir
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The cryptocurrency market has grown beyond many people’s expectations over the past decade. The nascent industry has managed to change mainstream perception quite significantly, especially in 2021, which saw many traditional financial institutions adopt crypto in one form or another. Some of the biggest public companies such as MicroStrategy started using Bitcoin (BTC) as a
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Municipals took a breather and were little changed Thursday, while U.S. Treasuries were mixed as the 2/10 UST curve flattened but remained inverted, sending worrisome recession signs. Equities ended in the red. Muni to UST ratios were at 65% in five years, 82% in 10 years and 96% in 30 years, according to Refinitiv MMD’s
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