Wendy O
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Terra Developers Unveil Plan to Revive LUNA Ecosystem; IRS Expands Key US Tax Language to Include NFTs
Terra developers floated a new proposal earlier this week as they look to revive the once-mighty network, even as Do Kwon, the platform's controversial co-founder, faces a warrant for his arrest on charges of fraud. Plus, the U.S. Internal Revenue Service (IRS) has made a move this week to clarify at least one question for crypto investors: how taxpayers account for non-fungible tokens (NFTs).
Terra's Do Kwon Still Says He's Not on the Run; Story DAO and the Quest to Recreate Hollywood
Do Kwon, the controversial co-founder of Terraform Labs, the firm behind the Terra blockchain network, has denied claims that he is on the run from law enforcement, despite Interpol reportedly issuing a "red notice" for his arrest last month. Plus, Story DAO co-creators Justin and J.P. Alanís join "The Hash" live from I.D.E.A.S. to discuss their "radical experiment in community world-building."
Mastercard Joins Paxos to Help Banks Offer Crypto Trading; Magic Eden Moves to Optional Royalty Model
Mastercard (MA) has formed a partnership with crypto trading platform Paxos to offer a program that will help financial institutions offer cryptocurrency trading, the payments company said Monday. Plus, Solana non-fungible token (NFT) mainstay Magic Eden is moving to an optional royalty model, the marketplace said in a Friday night Twitter thread.
NYDIG Cuts Workforce Amid Crypto Winter; Binance Pool Starts $500M Fund to Support Bitcoin Mining
Bitcoin services company NYDIG has laid off around 100 people, according to CoinDesk sources. The firm has cut approximately 30% of its staff in the past several weeks as the crypto market has soured. Crypto winter is also taking a toll on companies that man the virtual mines, which has led to cryptocurrency exchange Binance starting a lending facility for bitcoin (BTC) miners.
October Becomes Worst Month for Crypto Crimes; Crypto Exchange Uniswap Labs Raises $165M
DeFi protocols have lost over $718 million to eleven different hacks this month so far, according to research firm Chainalysis. Plus, decentralized exchange Uniswap Labs raises $165 million in a Series B funding round led by crypto-focused investment firm Polychain Capital.
