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New draft legislation on stablecoins in the United States House of Representatives proposed to impose a two-year ban on new algorithmically pegged stablecoins like TerraUSD (UST).The proposed legislation would require the Department of the Treasury to conduct a study of stablecoins similar to UST in collaboration with the United States
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Ethereum co-founder Vitalik Buterin doesn’t believe that any of the existing attempts by corporations to create a Metaverse are “going anywhere,” pointing to Meta as being one he believes will “misfire.” Responding to a tweet from Dialectic co-founder Dean Eigenmann, who believes venture capitalists may be wrong about what constitutes an
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On Jan. 31, Meta, formerly known as Facebook, announced that it was pulling from its stablecoin project, Diem, formerly known as Libra. Intellectual property and other assets related to the operations of the Diem Payment Network were to be sold to Silvergate Capital Corporation, essentially meaning the end to Mark
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The privacy questions were closely linked to legislators’ skepticism that the Libra project would be a “nonprofit” independent of Facebook’s control. Facebook’s hilariously inept attempt to make it seem like it wasn’t in control of Libra involved creating a “Libra Association” made up of companies including, for about 10 seconds,
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This episode is sponsored by Nexo, Abra and FTX US.Download this episodeOn this week’s “Long Reads Sunday,” NLW reads David Z. Morris’ “Meta Leans In to Tracking Your Emotions in the Metaverse.”See also: Who Writes the Story of the Metaverse?“The Breakdown” is written, produced by and features Nathaniel Whittemore aka
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In his monthly crypto tech column, Israeli serial entrepreneur Ariel Shapira covers emerging technologies within the crypto, decentralized finance (DeFi) and blockchain space, as well as their roles in shaping the economy of the 21st century.Sometimes a project’s name tells you all you need to know about it, no matter
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Another one bites the dust. David Marcus stepped down as the head of Novi, Meta/ Facebook’s fintech division. The company’s first order of business was to create a cryptocurrency, but regulators around the world were not keen on the idea. After a few missteps and name changes, they finally released
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This episode is sponsored by NYDIG.Download this episodeOn today’s episode, NLW does a retrospective of Facebook’s libra project, which was renamed late last year to diem. He argues that, whatever happens with diem specifically, it has a place in the historical record as the starting gun for a new era in
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Facebook has been planning its foray into the metaverse for some time now — possibly even several years. But it’s only recently that its ambitious expansion plans have catapulted the concept into mainstream headlines across the globe. Renaming the parent company to Meta was perhaps the biggest, boldest statement of
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Much has been said recently about Facebook’s decision to rebrand to Meta, with both arguments for and against but what is without question is the overwhelming effect it has had on the metaverse cryptocurrency market. Over the past couple of weeks, we have seen metaverse cryptocurrencies rally and this looks set
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