LensLinks: Issue 54

A blockchain news roundup, brought to you by Regiment LLC

Author

Len Pacek
December 19, 2022

Today in LensLinks:

  • "Draconian Crypto Bill"? How Much is Too Much?

  • "The Great Convergence" - DeFi - CeFi Creep?

  • Gaming Pioneer Quits Meta

  • Solana DEX Raydium Hacked for $2.2M

  • SBF Arrest (the story continues...)

  • PwC tackles blockchain’s carbon footprint

  • Are Auditors Dropping Crypto Projects?

  • And Much, Much, More...

QUOTABLE... 

"Despite everything, a strong argument remains that excessive regulation – for example, the draconian bill introduced this week by Senators Elizabeth Warren (D-Mass.) and Roger Marshall (R-Kan.) – could easily backfire by killing innovation. There are especially big risks if securities laws are unreasonably targeted at the software developers of DeFi projects for which there is no identifiable centralized authority."

- Michael J. Casey, Chief Content Officer, CoinDesk

NOTABLE...  

The Great Convergence ‒ The Institutionalisation of DeFi - MoreThanDigital

The institutionalisation of DeFi is progressing despite the depressed crypto markets. But is adopting DeFi concepts to CeFi systems with central governance the right approach? Regardless of the answer, applying DeFi-protocols to CeFi can help to innovate it. The institutionalisation of DeFi is driven by major international financial institutions and asset managers but also boutique size firms supported by regulators and industry associations. A case in point is the huge potential in private market assets. Alternative investing platforms that open access to non-traditional assets for retail investors will have a transformative impact on both retail and institutional investing.

https://morethandigital.info/en/the-great-convergence-the-institutionalisation-of-defi/

Regardless of the answer, applying DeFi-protocols to CeFi can help to innovate it. The institutionalisation of DeFi is driven by major international financial institutions and asset managers but also boutique size firms supported by regulators and industry associations.

A case in point is the huge potential in private market assets. Alternative investing platforms that open access to non-traditional assets for retail investors will have a transformative impact on both retail and institutional investing.

 Metaverse & Gaming

Gaming pioneer and Facebook VR leader resigns, blasts company on way out

A prominent video game creator who helped lead Facebook's expansion into virtual reality has resigned from Meta, disillusioned with the way the technology is being managed.

https://www.cbsnews.com/sanfrancisco/news/gaming-pioneer-facebook-vr-leader-carmack-resigns/

John Carmack cut his ties with Meta Platforms, a holding company created last year by Facebook founder Mark Zuckerberg, in a Friday letter that vented his frustration as he steeped down as an executive consultant in virtual reality.

 Blockchain, Tokens & DeFi

Solana DEX Raydium Hacked for $2.2M - The Defiant

Protocol’s Admin Keys Likely Compromised

https://thedefiant.io/raydium-exploit

Raydium is the second largest DEX on Solana, with more than $36M in total value locked, according to Defi Llama. According to crypto wallet tracking platform Nansen, the attacker made off with $2.2M in tokens, most of which was Solana’s SOL token.

Crypto security firm OtterSec said the attacker likely had access to Raydium’s private keys, and dismissed the notion they had exploited a smart contract vulnerability.

 Crypto Trading

This Week in Crypto: SBF Statements and Arrest, Robinhood in Peril and Kardashian Case Dismissed

Crypto News: Here are the most popular stories from across the cryptosphere as featured on BeInCrypto this past week.

https://beincrypto.com/this-week-in-crypto-sbf-robinhood-kardashian/

Metaverse & Gaming - A Little More...

A Metaverse-Ready Nation Needs These Factors to Excel in 2023, per Report

The metaverse trend has taken the crypto world by storm despite the overall bearish crypto sentiment. Customer experience is a key area.

https://beincrypto.com/metaverse-ready-nation-needs-these-2022/

In Brief

Studies have projected the size of the metaverse market to be anywhere between $500 million and $1 trillion by 2030.

More than 90% of consumers are curious about the Metaverse per report.

Netherlands ranks as the most metaverse-ready country globally, with an overall ‘metaverse readiness score’ of 7.74 out of 10. Switzerland ranks second with a score of 7.61, followed by Lithuania at 7.39.

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

Where did the money go in FTX crypto collapse?

The collapse of crypto firm FTX and former CEO Sam Bankman-Fried's arrest has left many wondering where the money went.

https://finance.yahoo.com/news/where-did-money-ftx-crypto-230241698.html

FTX and Crypto Bust Show Capitalism’s Limits

Investors have been led astray by misleading signals from the market. It enticed them to go "all in" on centralized exchanges rather than focusing on real-world use cases for tokenized value exchange.

https://www.coindesk.com/layer2/2022/12/16/ftx-and-crypto-bust-show-capitalisms-limits/?outputType=amp

Crypto Trading - A Little More...

Listen up! Cointelegraph launches crypto podcasts, starting with 4 shows

Cointelegraph unveils its new crypto podcast section, with four shows hosted by Cointelegraph staff.

https://cointelegraph.com/news/listen-up-cointelegraph-launches-crypto-podcasts-starting-with-4-shows

No more proof-of-reserve checks? Auditors quietly drop crypto projects from portfolios

Binance confirmed that Mazars will be temporarily pausing its work with all crypto platforms.

https://cointelegraph.com/news/no-more-proof-of-reserve-checks-auditors-quietly-drop-crypto-projects-from-portfolios

 ESG (Environment, Social & Governance)

PwC tackles blockchain’s carbon footprint

A standardized method to evaluate the carbon footprint of blockchain initiatives could help CFOs meet sustainability targets.

https://www.cfodive.com/news/pwc-tackles-blockchains-carbon-footprint/639025/

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