According to data from Santiment, stablecoin whales with wallet holdings of 10,000 to 10 million Tether (USDT) have accumulated over $1 billion in buying power in the past month. The data indicates the buying power of these whales increased by over 7% in just one month.Continue Reading on Coin Telegraph More
Switzerland’s Finance Minister Guy Parmelin told the Financial Times that 223 Russians, including oligarchs and close associates of President Vladimir Putin, have had their bank accounts and physical assets frozen by Switzerland in the past week. The cryptocurrency prohibitions will be an additional penalty that goes beyond the four EU sanction packages that have already been implemented.Crypto assets are often criticized for the potential risks associated with them, including their use in illicit activity and money laundering, as the technology provides traders with a certain level of anonymity. Indeed, some experts have expressed fears that crypto could help Russia evade the financial sanctions imposed upon them.The question of crypto is essential for Switzerland, as the country has become one of the world’s most prominent centers for blockchain-based finances in recent years, and is often referred to as “Crypto Valley.” According to a report by CV VC, a Swiss venture capitalist firm, by the end of 2021, there were around 1,128 blockchain companies based in Switzerland and neighboring Liechtenstein.A senior official with the finance ministry told the Financial Times that freezing Russian crypto assets was necessary to protect the integrity of Switzerland’s blockchain industry. “If someone holds their crypto key themselves, then, wherever they are, it’s going to be virtually impossible to identify them,”
the official said.”But if they are using crypto services — funds, exchanges, and so on — these service points we can target.”
After freezing the assets of the Central Bank of Russia and disconnecting seven Russian banks from the SWIFT financial-messaging system, the EU also announced that it would be taking action to crack down on the use of cryptocurrencies as a way of evading the imposed sanctions. “We are taking measures, in particular on cryptocurrencies or crypto assets which should not be used to circumvent the financial sanctions decided upon by the 27 EU countries,”
France’s Finance Minister Bruno Le Maire said on Wednesday.The largest crypto exchanges were therefore urged to block the accounts of Russian users from using their services, however, the request sparked controversy as to do so would be contradictory to the decentralized nature of crypto. Coinbase (NASDAQ:COIN) stated that they would comply with a ban on Russian users if the U.S. government imposed the rule. Binance, for their part, recently announced a block on the accounts of those Russian clients directly targeted by the sanctions, but refused to place a blanket ban on all Russian users. The crypto exchange giant cited a lack of fairness to the Russian people as an explanation for their refusal.EMAIL NEWSLETTERJoin to get the flipside of cryptoUpgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.[contact-form-7]
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Individuals will be able to participate in a whole new economy being built on the blockchain. Web3 education provides the foundation for a brighter economic future, and an accessible platform to learn, question, and discover more about the technology is essential to its sustained growth.In tandem with this commitment towards Web3 education, Phemex is proud to announce the launch of the Phemex Student Foundation. Founded by ex-Morgan Stanley veterans, Phemex was created as a reliable and fair platform for people to invest in digital assets. The Phemex Student Foundation is a research initiative that offers scholarships to students in fields like cryptocurrencies, blockchain, and Web3.The Phemex Student Foundation is here to change that by creating a new partnership that gives both power and voice to young scholars. This will enable students to develop groundbreaking innovations and conduct their own research to benefit the world of cryptocurrency investing.In a span of 8 weeks, students will work together to produce a comprehensive thesis-like final paper and case study about a specific topic that will be featured on the company’s website. Altogether, doing individual research, networking with industry insiders, and learning from outside experts will give students a greater understanding of the blockchain and crypto space.Two more features of the program include a career path panel featuring Phemex’s CEO, Jack Tao, as well as a series of webinars that will feature blockchain and digital asset experts to talk about the industry and where it’s headed.Join the Phemex Student FoundationThe Phemex Student Foundation is committed to supporting the next generation of blockchain developers, entrepreneurs, and innovators. Students participating in this program will have access to a wealth of resources along with exclusive networking opportunities and the chance to apply their skills and knowledge in a real-world setting. If you want to be a part of this foundation and help change the world for the better, visit Phemex Student Foundation and register today.Continue reading on BTC Peers More
In a Cointelegraph interview, the banking executive mentions that institutions are likely to adopt crypto following the advent of clear regulations. Additionally, the presence of “regulated counterparties” within the banking industry creates a secure and trusted way for institutions and their stakeholders to have access to the crypto sector.Continue Reading on Coin Telegraph More
BRUSSELS (Reuters) – The European Union is considering loosening state aid rules for companies affected by EU sanctions against Russia over Ukraine and the bloc’s competition regulators are looking at various support measures, the European Commission said on Monday.The EU executive set a precedent two years ago by relaxing some state aid rules for businesses hit by the coronavirus pandemic, allowing individual member states to pump billions of euros into their companies.”The Commission is closely monitoring the situation and is ready to use the full flexibility of its state aid toolbox in order to enable member states to support companies and sectors severely impacted by the current geopolitical developments,” Commission spokeswoman Arianna Podesta said in an email.”We are looking at all tools at our disposal – permanent and temporary,” she said.The Commission will seek feedback from EU countries before implementing any measures.From airlines to banks to automakers, thousands of European companies are expected to be hit hard by the sanctions as they close their Russian businesses and cut dealings with Russian counterparts.The European Central Bank’s chief economist Philip Lane has told fellow policymakers that the Ukraine conflict may reduce the euro zone’s economic output this year. More
“We’re backing Petaverse Network for quite a number of reasons, but we’re particularly excited by their commitment to being an Open Standard,”
said Anil Hansjee, General Partner of Fabric Ventures.”Their pets and platforms will be available for other projects to build on-to or inside-of, which is aligned with the Web3 principle of decentralization and will grow the sector for all.”
The funding round also includes notable angel investors and web3 gaming industry veterans Nick Button-Brown (who joins the Board of Directors), Kristian Segerstrale (Super Evil Megacorp), Sebastien Borget (The Sandbox), and James Zhang (Concept Art House).Funds will be used to accelerate the deployment of pet companions and pet varieties across the metaverse, develop new games and experiences, and further hire key developer positions. Pets will be usable across platforms, wherever and whenever you live your digital life, furthering the company’s vision for broad utility in web3. Petaverse Network will offer pets to bond with, train, and evolve based on their specific ‘DNA’ and the interactions users have with them.Petaverse Network will introduce cats in Q2 2022, as its first drop of pet companions, followed by dogs later this year. The team creating the Petaverse Network has over 70 years of collective games, AR and VR development experience. They have also been selected by Qualcomm (NASDAQ:QCOM) as an early access partner for Snapdragon Spaces and by Deutsche Telekom (OTC:DTEGY) for their iOS Innovation Hubraum Program.”As the hardware and software for extended reality products continues to advance, open metaverse projects like the Petaverse Network will deliver a truly inter-verse experience blending digital and real-life environments,”
said Yat Siu, Chairman of Animoca Brands.”We are delighted that our grand vision for the future of pet ownership has been supported and validated by such an amazing syndicate of forward-thinking Web3 investors,”
says Susan Cummings, CEO Petaverse Network.”We can’t wait for pet fans to see the games and experiences we are building which will allow them to bring their virtual pets into all corners of their digital lives, beginning soon with cats.”
“Our pets have been designed to give the sensation of having a real pet, while leaning in to the freedom of creativity that emerging platforms are allowing us to have,”
says Lee Cummings, Creative Director of Petaverse Network.”We see them very much as having one paw in the universe and one paw in the metaverse… but most importantly, a pet you want to play with in either.”EMAIL NEWSLETTERJoin to get the flipside of cryptoUpgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.[contact-form-7]
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The head of Wincanton, the UK’s last large warehousing group, is defiant that his company retain its London listing and avoid the same fate as rival Clipper Logistics, which is being taken over by US-based GXO.James Wroath, chief executive of Wincanton, which runs the British supply chains of retailers J Sainsbury and Primark, and brewer Heineken, said that he wanted to expand the company as a publicly traded entity in the UK amid a flurry of buyouts in the logistics sector.“My intention is not for Wincanton to get bought,” he told the Financial Times. “It’s really important that the UK has a British-owned logistics company of size and scale.”The huge growth in ecommerce sales for retailers and the maelstrom of supply chain problems, including lorry driver shortages caused by the pandemic, has raised the profile of the logistics sector, helping to drive acquisition activity.Last week, Clipper received a near £1bn formal takeover bid from GXO, which was spun out of a large US trucking company last year, valuing the Leeds-based group at 13.6 times its forecasted 2022 earnings before interest and tax factoring in cost cuts. By contrast, Wincanton, which generated £1.2bn of revenues in its previous financial year, trades at 6.2 times of 2022 forecasted ebit. “There is always a possibility [of a takeover bid] with the rating so undervaluing the company,” said Gerald Khoo, an analyst at Liberum.While Wroath cannot rule out the acceptance of a takeover offer for Wincanton given that the board would decide on the basis of maximising value for its shareholders, he sees its near-term future as better suited to the London market.The UK and Ireland logistics sector had a record year for dealmaking in 2021 with 66 transactions completed for a disclosed value of £2.7bn, according to BDO, an accountancy and M&A advisory which began tracking activity in 2016.Jason Whitworth, a partner at BDO, said that the strong balance sheets of international logistics companies meant that they were on the hunt for acquisitions to build “pan-European” operations as the pandemic boom in online shopping cools off.The need to invest in automation and the restricted availability of industrial properties are also driving takeover activity. The number of big names in the UK logistics outsourcing market has been whittled down over the years and the takeover of Clipper will reduce it further to three main players: GXO, DHL Supply Chain and Wincanton.Clipper generated most of its £696mn annual revenues from retail customers including handling their online returns. While Wincanton is expanding operations in this area, it is more diversified, such as providing the logistics for the construction of EDF’s Hinkley Point nuclear power plant and fuel distribution.But analysts said that British retailers would bristle at a reduction of the market to two big companies and outsourcing their supply chain operations to a provider that also services their rivals. More
As part of UK’s biggest free NFT giveaway, Papa Johns has launched its first-ever NFT collection inclusive of 19,840 collectible NFTs. Set to drop in early March, fans can get their hands on nine pizza hot bag-inspired designs.Papa Johns UK first teased its pizza fans with a 3-second video uploaded on Twitter (NYSE:TWTR). The pizza giant described the event as ‘something cool’ and something everyone shouldn’t miss. More
