Crypto no longer in top 10 most-cited potential risks
According to a survey conducted by the Federal Reserve Bank of New York, out of the 14 factors that pose a financial risk, crypto stands at the 11th position.
U.S.-China tensions, the Russia-Ukraine war, higher energy prices, rising inflation, the COVID-19 pandemic and cyberattacks came out as some of the most pressing financial risk concerns.
FTX’s token falls sharply amid Binance controversy
Binance CEO Changpeng Zhao said in a tweet on Nov. 6 that the exchange would begin selling off its FTT holdings following “recent revelations” — seemingly in reference to an earlier report from CoinDesk that revealed details of Alameda Research’s balance sheet.
FTT, the token created by crypto exchange FTX, fell 19%, from roughly $22 to below $18 shortly after 10:00 p.m. ET on Nov.7.
Avalanche Foundation unveils $4 million incentive program for trading platform GMX
The Avalanche Foundation is providing incentives worth $4 million in AVAX tokens for the decentralized trading platform GMX.
The $4 million in AVAX tokens will be distributed over a multi-month timeframe, as well as with partner platforms building on top of GMX, the Avalanche Foundation said in a statement. Partner platforms include exchanges TraderJoe, YieldYak and Dopex.
Bank of Korea tested NFT trading, remittances with CBDC
The Bank of Korea (BoK) has developed and tested a program that facilitates cross-border remittances by linking different central bank digital currencies (CBDC) from other countries.
The experiment found that distributed ledger technology, which underlies crypto, does not yet have the scalability needed for a retail CBDC so it may be better to use the standard centralized ledger database.
Bitcoin ATM locations in Canada jump 28% from last year
According to data from Coin ATM Radar, the number of Bitcoin ATM installations in Canada has increased by 28% year-over-year.
There are 2,549 Bitcoin ATMs in the country, which is second only to the United States.
Helium plans to give free trials to Solana phone users
Nova Labs, the company behind Helium Network and a new crypto-powered cellular service called Helium Mobile, said it would provide SIM cards and free trials to customers of Solana Labs’ new Saga phones.
Under the agreement, Saga phones sold in the U.S. will get a 30-day free subscription to Helium Mobile. Saga phones are Solana’s flagship Android device, tightly integrated with the Solana blockchain.
Pre-production Solana phone to ship to developers in December
Pre-production versions of the Solana phone will be shipped to developers from Dec. 15, as the phone gears up for introduction in early 2023.
The phones will let developers in the Solana ecosystem test decentralized applications for the Solana dApp store. Saga will be available for sale in Q1 2023 for $1,000.
KardiaChain partnered with Synthr
KardiaChain announced that a partnership between KardiaChain and Synthr has been formed. Synthr is a synthetic asset protocol that enables users to mint and trade on-chain derivatives of various financial assets using trustless financial contracts.
Thanks to this collaboration, users of Synthr will be able to trade SYNTH on the KardiaChain network. In addition, users from other EVM and Non-EVM chains can seamlessly enter the KardiaChain network.
Bizverse announced new partnership with OctoGamex
On November 7th, Bizverse announced a new partnership with OctoGamex, a multi-chain NFT trading platform built for in-game and Metaverse assets, connecting gamers, games, and guilds worldwide.
More ETH traders are in profit despite pullback
According to data provided by IntoTheBlock, despite being 67.57% down from its respective all-time highs, 57% of all funds invested in ETH remain profitable.
Additionally, 3% of all holders are currently breaking even as 40% are facing losses.