LensLinks: Issue 11

A blockchain news roundup, brought to you by Regiment LLC

Author

Len Pacek
October 18, 2022

Today in LensLinks:

  • Is a Pan-Asia Digital Currency in the Works?

  • Should Crypto Developers Leave US?

  • Coinbase threatens to sue crypto traders

  • More Than 50% of Nonprofessional U.S. Creators Now Monetize Their Content, Adobe Study Finds

  • "Accidental Billionaire"?

  • 101: 6 Common Crypto Myths Debunked

  • And Much, Much more...

QUOTABLE...

"When everything is done within a bank, we know exactly who is accountable when things break."

- U.S. Comptroller of the Currency Michael Hsu

NOTABLE...

First Mover Asia: A Pan-Asian Digital Currency? Good Luck Getting Rivals to Cooperate; Cryptos Hold Steady in Weekend Trading

Chinese researchers say such an initiative would increase monetary cooperation and reduce dependency on the U.S. dollar, but that probably isn’t what different countries want.

https://www.coindesk.com/markets/2022/10/17/first-mover-asia-a-pan-asian-digital-currency-good-luck-getting-rivals-to-cooperate-cryptos-hold-steady-in-weekend-trading/

 Metaverse & Gaming

Immutable, FTX Back AI-Powered Metaverse Game Delysium’s $10M Funding - NFTgators

Delysium has announced a $10 million funding round led by Anthos Capital with participation from Immutable, FTX Ventures, Deterrence, RCT AI and others.

https://www.nftgators.com/immutable-ftx-back-ai-powered-metaverse-game-delysiums-10m-funding/

Quick take:

Immutable and FTX Ventures have backed Delysium’s $10 million funding round.

The AI-powered metaverse game wants to accelerate open-source & decentralized publishing structure for web3 games.

The fundraising was led by Los Angeles-based VC Anthos Capital.

 Blockchain, Tokens & DeFi

CFTC action shows why crypto developers should get ready to leave the US

Decentralized autonomous organizations (DAOs) were supposed to be regulation-proof. Federal regulators now have targeted not just a DAO, but also its investors.

https://cointelegraph.com/news/the-cftc-s-ooki-dao-action-is-a-bad-omen-for-american-crypto-developers

Considerable anxiety exists in the world of Web3 related to regulation and the legal status of cryptocurrency projects. It’s particularly apparent in the United States, where the Commodity Futures Trading Commission (CFTC) fueled concerns in September with an announcement that it was imposing a $250,000 fine on a decentralized autonomous organization (DAO), Ooki DAO, and its investors. The fine was particularly ominous, considering DAOs are intended to be “regulation proof.”

Crypto Trading

Coinbase Threatens to Sue Crypto Traders Who Profited From Pricing Glitch

A thousand users in the republic of Georgia made wild profits on a Coinbase pricing glitch. Now the U.S.-based crypto exchange wants the money back.

https://www.coindesk.com/business/2022/10/17/coinbase-threatens-to-sue-crypto-traders-who-profited-from-pricing-glitch/

Coinbase, the world’s second-largest cryptocurrency trading platform by volume, is hinting it may sue about 1,000 users in the republic of Georgia for taking advantage of a pricing glitch.

On Aug. 29, about 1,000 Coinbase users in the country straddling Europe and Asia exploited the “arbitrage opportunity” when the lari, the local currency, was priced at $290 rather than $2.90 for about six hours on Coinbase. The group constitutes only 0.001% of the U.S.-based company’s users.

The glitch was a fault of a “third party,” Coinbase told CoinDesk then, without identifying the company. As such, the incident illustrates a longstanding concern of financial regulators: The risks posed to institutions by external partnerships.

Metaverse & Gaming - A Little More...

How CIOs Can Prepare the Enterprise for the Metaverse

The metaverse does not yet fully exist but it is beginning to emerge, creating an opportunity for CIOs to prepare the enterprise now through exploring immersive experiences in the workplace.

https://www.informationweek.com/strategic-cio/how-cios-can-prepare-the-enterprise-for-the-metaverse

More Than 50% of Nonprofessional U.S. Creators Now Monetize Their Content, Adobe Study Finds

A study funded by Adobe sheds new light on the creator economy, indicating that not only are a large number of people earning money from their original content creations but also that their earning…

https://variety.com/2022/digital/news/creator-economy-study-content-adobe-1235404075/

Get ready for the metaverse

Whether companies want to leap or tiptoe into the metaverse, they should decide which of these key technologies aligns with their business strategies.

https://www.infoworld.com/article/3676634/get-ready-for-the-metaverse.html

Blockchain, Tokens & Defi - A Little More...

A Crypto Alchemist Made Me an Accidental Billionaire

Valentin Broeksmit tried to exploit crypto vulnerabilities to squeeze money out of thin air. The catch is, he couldn’t cash out.

https://www.wired.com/story/valentin-broeksmit-incognito-cryptocurrency/

How decentralized exchanges have evolved and why it's good for users

Modern DEXs are easier to use than their predecessors, with better liquidity and a simpler trading interface.

https://cointelegraph.com/news/how-decentralized-exchanges-have-evolved-and-why-it-s-good-for-users

Crypto Trading - A Little More...

Société Générale’s Crypto Division Lands Regulatory Approval in France - Decrypt

Investment bank Société Générale has gained approval to operate digital asset services in France, in its latest crypto-focused efforts.

https://decrypt.co/112127/societe-generales-crypto-division-lands-regulatory-approval-france

6 Common Cryptocurrency Myths and Misconceptions Debunked

Meta - Whether you’re a first-time or an experienced trader, it’s essential to understand the truth about crypto so you can trade responsibly.

https://www.crypto-news-flash.com/6-common-cryptocurrency-myths-and-misconceptions-debunked/

ESG (Environment, Social & Governance)

ESG Can Still Deliver The Goods, Despite Headwinds – AllianceBernstein

https://www.wealthbriefing.com/html/article.php?id=195897#.Y02el3bMJD8

The financial environment for ESG enthusiasts has got more difficult this year. For example, the share price performance of oil majors such as Shell and ExxonMobil have surged since the start of 2022.

Disclaimer: This note is distributed by Regiment, LLC for informational purposes only and is sourced from publicly available media reports. It is not an investment recommendation or solicitation for any investment. The information is current as of date and subject to change. In such case Regiment, LLC does not undertake to provide any updates. Recipients must be aware that any private, alternative investments discussed are speculative in nature, often illiquid, and subject to loss of capital.