crypto Archives - The Block

Coinbase’s CEO shares his top 10 most exciting Web3 ideas

Coinbase co-founder and CEO Brian Armstrong is basking in the glow of a successful week as the value of his company's stocks soared, riding on the rising hopes for a Bitcoin spot Exchange-Traded Fund (ETF).

Armstrong kept the good vibes going by sharing the 10 ideas he’s “most excited about” in the Web3 space.

"We're actively developing numerous projects at Coinbase, but considering the vast landscape, it's not possible to tackle everything. Therefore, I thought...

31 August 2023 | Altcoins

House of Lords approve UK crypto bill

UK parliamentarians have taken a significant step towards recognising cryptocurrencies as a regulated activity with the approval of the Financial Services and Markets Bill (FSMB) by the House of Lords.

The move brings the bill closer to becoming law, marking an important development in the country's approach to digital assets.

Anto Paroian, CEO at ARK36, said:

"At ARK36, we feel the news that the UK parliament has just voted through a new bill which could...

21 June 2023 | Altcoins

a16z’s first global office will be in London due to ‘predictable’ environment

Renowned venture capital firm Andreessen Horowitz (a16z) is opening its first global office in London due to a “predictable” regulatory environment.

The decision to expand comes in the wake of growing regulatory challenges faced by crypto firms in the United States. Chris Dixon, a16z's crypto founder and managing partner, highlighted the importance of a predictable business environment as a key factor behind the...

12 June 2023 | Altcoins

Mastercard launches Mastercard Crypto Credential to boost trust in blockchain

Mastercard has introduced Mastercard Crypto Credential, a set of common standards and infrastructure that will help verify interactions among consumers and businesses using blockchain networks.

Mastercard Crypto Credential aims to provide a foundation for financial institutions, governments, brands, and crypto players, ensuring that those interested in interacting across web3 environments are meeting defined standards for the types of activities they’d like to...

2 May 2023 | Banking

Ethereum decreased its annual CO2 emissions by over 21M tons

Over 109M more trees would have been needed to offset Ethereum’s CO2 emissions prior to its switch to a more efficient consensus.

Ethereum switched to a Proof-of-Stake (PoS) consensus last year in an event called The Merge. Regardless of personal views on Ethereum and the wider blockchain and web3 space, The Merge was broadly seen as an incredible feat of open-source engineering.

The Merge is the first major step on the road to Ethereum 2.0 which aims to tackle the...

23 January 2023 | Blockchain

Visa will ‘actively contribute’ to web3 development

Visa refuses to become a dinosaur and will “actively contribute” to developing the web3 and crypto ecosystem.

Aside from maximalists, few experts believe that crypto poses an existential threat to fiat currencies. Legacy payment processors like Visa and Mastercard have increasingly been joining the web2-era disruptors like PayPal and Square in supporting the web3 and crypto ecosystem.

Greater public adoption of “crypto” will likely come through CBDCs (Central...

20 December 2022 | Altcoins

Goldman Sachs ready to buy crypto firms after FTX bankruptcy

In the midst of FTX’s collapse and tanking crypto company valuations, leading financial services firm Goldman Sachs is eyeing up investment opportunities while prices are low.

During an interview with news outlet Reuters, Goldman Sachs executive Mathew McDermott said Wall Street are closely following the fallout from the collapse as calls for regulation in the industry grow stronger.

McDermott said the firm believes investment opportunities are now “priced more...

6 December 2022 | Banking

Sam Bankman-Fried deepfake aims to scam FTX collapse victims

A deepfake of former FTX CEO Sam Bankman-Fried aims to scam victims of the exchange’s collapse.

FTX was the third-largest cryptocurrency exchange and Bankman-Fried was seen as the face of crypto in Washington. The exchange enjoyed many celebrity endorsements and secured a 19-year, $135 million sponsorship agreement with Miami-Dade county that included the local stadium being renamed the FTX Arena.

All of that success went up in smoke when concerns around the...

22 November 2022 | Altcoins

Coinbase cuts 60 more jobs as web3 layoffs continue

Major crypto exchange Coinbase is cutting 60 jobs as layoffs continue to plague the bearish cryptocurrency market.

The employees from Coinbase’s recruitment and onboarding teams will lose their jobs as the crypto industry continues to suffer from the dramatic downfall of a major Coinbase competitor, FTX.

This marks the second round of job cuts Coinbase has had to make this year, albeit far smaller than the 1,100 employees who were laid off in June.

The...

12 November 2022 | Cryptocurrency

‘Solana killer’ Aptos soared to $100 on Binance before plunging

Aptos, a blockchain created by former Meta employees, debuted on Binance this week and soared to $100 before plunging to around $8.

The project has been called the “Solana killer” due to its claims of being able to process an incredible 130,000 transactions per second (tps).

As of writing, Aptos is processing around 24tps. This has led to many within the crypto community saying that Aptos’ performance claims are misleading.

Aptos co-founder Mo Shaikh has...