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The biggest news in the cryptoverse for March 1st saw Robinhood launch its own custody wallet on Apple’s app store. Elsewhere, Justin Sun of Huobi and TRON fame calls for unified regulation of the crypto industry. Plus, news on Binance’s AI art generator, digital US dollar, and Coinbase’s BUSD volume.
CryptoSlate Top Stories
Robinhood self-custody wallet launches on iOS
Crypto exchange platform Robinhood wallet app launched on the iOS app store on March 1, according to an announcement published on the Robinhood blog.
The announcement states that users can earn a one-time reward of up to 5 USD Coin (USDC) if they transfer $10 to the wallet app using their Robinhood Crypto wallet. If users initiate transfers from other wallets or exchanges, they can claim a 1 USDC reward for doing so.
The Robinhood wallet app currently supports the Polygon (MATIC) and Ethereum (ETH) networks, with the hope of increasing the number of supported chains in the future. It also supports NFT on MATIC and ETH chains.
Justin Sun calls for unified crypto regulation
Tron DAO (TRX) founder and advisor to Huobi Global Justin Sun says regulation is beneficial for the crypto industry. and added that a globally unified rule would complement the spirit of blockchain in an exclusive interview he gave to CNBC.
Sun explained that blockchain technology is emerging to set global standards for financial interactions, and therefore an international regulatory framework will be suitable for the crypto industry.
A former Biden adviser urged the development of a digital dollar to ‘drive out’ private crypto
Former Joe Biden administration adviser Daleep Singh told the senate banking committee on Feb. 28 that developing a central bank digital currency – that is, a digital dollar – would help protect national interests and replace private cryptocurrencies.
Singh previously served as Deputy National Security Adviser for International Economy and Deputy Director of the National Economic Council. He was one of the main people who developed the sanctions imposed on Russia after the invasion of Ukraine.
Responding to questions from Elizabeth Warren, Singh said that crypto allows bad actors to commit certain financial crimes such as ransomware and agreed that it would not be possible without cryptocurrencies.
Binance’s NFT AI Generator was overwhelmed by demand within an hour of launch
Binance CEO Changpeng Zhao, known as ‘CZ,’ announced launch of the beta version of non-fungible tokens (NFTs) artificial intelligence (AI) generator, Bicasso, on March 1.
However, within an hour of the announcement, the AI tool received more requests than it could handle. The tool starts asking, “Too many requests in the queue, please try again later.”
BUSD trading volume fell to its lowest point in February on Coinbase
The trading volume of the Binance USD (BUSD) stablecoin fell to its lowest point since Coinbase listed it in April 2022.
Based on data from research analyst Kaiko Dessislava Ianeva, the stablecoin trading volume in February was $9 million. Ianeva added that BUSD only accounts for 0.02% of Coinbase’s total volume.
Over the past month, BUSD has been under intense regulatory scrutiny. On February 13, BUSD issuer Paxos was ordered to stop minting other stablecoins by the New York Department of Financial Services (NYDFS).
Ordinal Bitcoin emoji shit is selling for $28k – wash trading or legit?
A Bitcoin Ordinal depicting the poop emoji sold for 1.2 BTC — equivalent to about $28,000 at press time — on March 1.
The ordinal is labeled Inscription #121 and printed in block 773820.
It is unclear whether the transaction was a legitimate sale or an attempt to wash trade to drive more interest in the ordinal and overall NFT ecosystem.
Quantum Temple enters into an NFT partnership with the Indonesian Ministry of Tourism
When it comes to blockchain and cultural heritage, few have greater expertise in this area than Linda Adami, alma mater of the Dubai Future Foundation’s innovative accelerator program, Adamis is currently working at the forefront of blockchain technology and sustainable tourism.
“Cultural heritage is sorely underfunded,” he told CryptoSlate during a March 1 interview. “But what if we could create immutable cultural archives using NFTs, and use them to develop new models to encourage current and future generations to stay engaged in cultural heritage.”
India’s Bitbns exchange admitted to having been hacked for $7.5 million last February
Crypto detective who uses ZachXBT on Twitter, claimed that Indian crypto exchange Bitbns covered up the hack under the guise of “system maintenance” on February 1, 2022. ZachXBT shared a screenshot of a maintenance tweet posted by BitBNS during the exchange being hacked, he claims on March 1, 2023.
Bitbns CEO Gaurav Dahake admitted in today’s AMA session that the exchange was indeed hacked 13 months ago. But Dahake claims the system was taken offline to analyze anomalies and not a tactic to hide the hack.
Agriculture Sector Yields up 8% according to CryptoSlate data
Yield farming platforms and protocols jumped 8% over the past 24 hours, with the sector’s total market capitalization now north of $10 billion.
The yield farming token sector refers to a subset of the decentralized finance (DeFi) ecosystem that focuses on incentivizing users to provide liquidity to various DeFi protocols.
Chainlink launched a web3 serverless developer platform to connect web2 to web3 APIs
Web3 oracle provider Chainlink has launched a new serverless developer platform, ‘Chainlink Functions,’ on its Web3 services platform to empower developers to build decentralized applications and connect smart contracts to any web2 API.
Crypto Market
In the last 24 hours, Bitcoin (BTC) has gone up 0.79% to trade at $23,411.43, while Ethereum (ETH) rose 1.15% at $1,640.63.
Biggest Gain (24h)
- SSR Infrastructure Framework (RIF): +22.84%
- Maker (MKR): +18.57%
- Conflux Network (CFX): +18.06%
Biggest Loser (24h)
- Nervos Network (CKB) :-6.92%
- Energy Web Tokens (EWT): -5.81%
- Gitcoins (GTC): -5.64%
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