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Cardano Could Be One Of The Main Projects To Keep An Eye On In 2022
As the crypto market begins the slow road to recovery, one project in particular has been making headlines and that is Cardano (ADA). While it is true that Charles Hoskinsons brainchild has taken a dip as far as the global rankings by market capitalization are concerned (Cardano is currently placed 9th overall), this hasnt stopped the project from adhering to its roadmap and experiencing success in the crypto, blockchain and DeFi industry.
Top five fastest developed assets
Cardano is still among the top five fastest developing assets in the previous month, according to Santiment statistics. Regarding development activity over the last 30 days, Uniswap, Solana, and Cardano have been the most active.
Despite the fact that development activity usually has little to no effect on short-term market pricing, it could nevertheless be a good sign of the projects long-term growth. After all, Cardano ranked first among the most developed assets in 2021.
Not too long ago, Charles Hoskinson announced the deployment of the first Hydra Heads on the public Cardano testnet. Hydra Heads, the initial protocol in a suite, is a vital component in Cardanos scaling trajectory. Hydra is essentially a group of Layer-2 technologies designed to improve network security as well as scalability.
Moreover, following the release of Cardano blockchain smart contracts technology, additional developers have begun to leverage the network and offer numerous use cases. Cardanos TVL (Total Value Locked) is increasing rapidly and has in fact grown by over 25,000% in 2022 alone. The DeFi LIama monitoring website reports that over $223 million is presently locked in different contracts developed on the Cardano network. Cardanos TVL also rose with the addition of staking, a key component of the project.
What should we expect going forward?
Even though the framework for future developments in the Cardano ecosystem has been laid, the price is struggling to return to its earlier highs. Of course, the same could be said about many altcoins and BTC itself (this is due to numerous factors chief among which being the ongoing Ukraine-Russia conflict) but ADA has nonetheless started recovering and Cardano enthusiasts remain hopeful that both the price as well as the projects ranking will improve sooner rather than later thanks to the initiatives strong fundamentals.
Mark Zuckerberg has stated that Instagram is planning to add NFTs
Mark Zuckerberg, CEO of Meta, has stated that Instagram is planning to add NFTs after other platforms such as Twitter also recently stated that they are adding non-fungible token related functionalities.
The CEO claimed that his team is currently working on adding NFTs to Instagram in the near future. However, the Facebook creator did not specify when the deployment will take place nor were any particular dates mentioned. Nevertheless, he did say that he believes Instagram users will be able to mint their own NFTs on the platform in the coming months.
This is not Metas first foray into a crypto-related enterprise. In 2019, the organization announced intentions to launch "Libra" (later dubbed "Diem"), a USD-pegged stablecoin that failed owing to a lack of governmental permission and community opposition.
Proof Of Work Consensus Crypto Officially Not Banned In Europe
Following the development of the European Union's (EU) proposed regulatory framework for regulating digital currencies, known as the Markets in Crypto Assets (MiCA) framework, the use of Proof-of-Work (PoW) cryptocurrencies was recently called into question and a potential ban was being considered.
However, on March 14th, 2022, the European Parliament's Committee on Economic and Monetary Affairs officially voted against any possible ban on the PoW methods that underpin popular cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH).
The clause that would have mandated PoW cryptocurrencies to switch to more environmentally friendly processes did not receive the necessary votes in parliament (32 were against the ban and 24 were in favor of it).
It is also vital to distinguish Proof-of-Work from Proof-of-Stake (PoS). PoW is the consensus method powering cryptocurrencies like Bitcoin and Ethereum, which typically need a massive amount of energy to operate.
As a result of the aforementioned vote, Bitcoin's PoW will no longer be restricted within the EU from now on. Instead, an alternate amendment has been approved which included BTC mining in the EU's sustainable finance taxonomy.
Venture Capital Interest In Crypto Continues To Skyrocket Despite Global Uncertainty
Bain Capital Ventures, one of the world's leading venture capital companies with over $5 billion in AUM, recently announced the opening of a new $560 million cryptocurrency fund. The fund will be used to invest in everything from cryptocurrency businesses to DAOs in areas such as Layer-1 blockchains and storage. The company anticipates that the fund shall be used in the next few years and will invest in around 30 enterprises.
Similarly, Sequoia Capital intends to invest up to $600 million in crypto startups via a new fund. With all the interest surrounding cryptocurrencies and the recent executive order signed by President Joe Biden himself, now could indeed be the ideal time to invest in crypto.
The Bain Capital fund was closed in November 2021, having already invested more than $100 million in various undisclosed projects. Bain Capital intends to be a lot more active than usual through the initiative in order to meet the rising demands of emerging crypto businesses.
Once the fund's capital has been invested, Bain Ventures may thus also consider opening other crypto-based funds. The broad consensus is that this is a 10 to 20 year opportunity, and the team is hence constructing a platform that they believe can support additional funds over time.
Sequoia Capital has announced the formation of a $500 million to $600 million fund focused on cryptocurrency tokens and other digital assets. This is the first time the 50 year old business has launched a fund focused on a certain industry.
Alfred Lin, a partner at Sequoia Capital, revealed that the company will invest the aforementioned sum in cryptocurrency tokens and startups via the new dedicated fund to help further develop this burgeoning sector.
What does it all mean?
The present trend follows a boom in venture capital interest in cryptocurrencies and digital assets during last year. Despite the fact that cryptocurrency prices remain extremely unpredictable in 2022 (and the current state of the world isn't exactly helping things either), venture capital companies have nonetheless continued to make major investments in the immensely popular sector.
In related news, Polygon recently secured $450 million via a funding round spearheaded by several top venture capital companies in the blockchain sector. Needless to say, this kind of interest is not going away anytime soon.
President Biden Signs Executive Order Detailing The Future Of Crypto Regulation
United States President Joe Biden has issued an executive order directing the government to investigate the dangers and advantages of cryptocurrencies. The crypto community has been awaiting this day for a long time because of mounting regulatory anxiety about the embryonic digital asset market that has dominated the world for several years now.
A house divided
There have been allegations of a schism between White House officials and Treasury Secretary Janet Yellen which was reportedly causing policy delays. On Wednesday this past week, the order was nevertheless officially signed. As per a White House fact sheet, it calls on federal agencies to take a uniform approach to digital asset regulation and monitoring.
With the rising popularity of the crypto industry, many had predicted that such an order was indeed inevitable, and that if the United States wanted to maintain any kind of dominance in the world of financial technology, a regulatory approach instead of a blanket ban (which has repeatedly been the preferred solution in the past by organizations such as the SEC) would have to be adopted.
Brad Garlinghouse of Ripple had gone out of his way to tweet that the Biden administration should be appreciated as they have taken the initiative and are actively trying to understand the potential and possible use-cases of cryptocurrencies rather than outright rejecting them.
What does the order include?
Consumer and investor protection, financial stability, illegal activity, U.S. competitiveness on a global scale, financial inclusion, and responsible innovation will be the emphasis of the measures outlined in the aforementioned executive order.
Consumer protection in particular is a key component of the directive. There have been several reports of investors succumbing to crypto scams or losing large quantities of money as a result of cyberattacks on exchanges or users. The Biden administration has thus asked the Treasury to examine and make crypto policy suggestions. It also requests that authorities provide adequate monitoring and protection against any systemic financial risks presented by virtual assets to help the government in terms of regulatory efforts going forward.
Consult An Accountant - Crypto Taxation
Since crypto can be a decentralized and private form of banking and wealth storage, governments and banks have a natural animosity concerning it. The pressure is great for regulators and governments to clarify their positions on cryptocurrencies, defi, and other crypto earning endeavors. Rising to the challenge are tax professionals now specializing and striving to keep current in the tax treatment of cryptocurrency earning and investing, no easy task. Speaking to one of these professionals regarding your tax preparation can provide clarity, save you money, and prevent unpleasant dealings with the government.
Crypto is an encrypted transaction making exchanges difficult to track. This makes taxation of them more a matter of trust than provable fact in tax situations. In the past few years there has been a big push by the Canadian government to crack down on day-traders and cryptocurrency investors and earners. This may create issues for crypto users if audited by the CRA from an income tax perspective, as earning, mining, staking, or investing in cryptocurrency vary in forms of income. In Canada, the CRA reports cryptocurrency gains as a capital gain, which can be an inaccurate classification due to a lack of specific regulation. An example is that long-term and short-term crypto holders have not been able to keep track of losses or gains because purchasing crypto is not the only way they have come out owning it, and there is no clear entry value. In other cases, holding crypto for a time periods before and after the addition or removal of regulations, because even today the rules are still in progress.
The best advice is to consult with a tax professional, one that is specializing in crypto, and plan for the most reasonable way to report crypto investments and earnings. Operating under the proper tax guidelines clients can remain protected against scrutiny from both governments and regulators. Make sure you offer your tax professional a complete picture of your portfolio and work with them to achieve an honest and accurate appraisal of tax obligations.
Binance Restored Bank Transfer Functionalities For Account Users In Europe
Binance has announced that it has completely restored bank transfer functionalities for account users in Europe, 8 months after stopping the service due to regulatory pressure.
Binance's European customers, with the exception of those in the Netherlands and Switzerland, now have accessibility to both British Pound as well as Euro withdrawals and deposits thanks to the FPS (Faster Payment Services) and SEPA (Single Euro Payment Area) rails.
FPS and SEPA enable consumers in Europe to transfer Pounds and Euros using their respective bank accounts. Binance representatives stated that new deposits and withdrawals would be made through a cooperation with the United Kingdom based payments company known as Paysafe.
The Russia-Ukraine War: A Curious Case For Bitcoin And Crypto
Generally speaking, there is no such thing as good or bad in times of crisis as instead there is often just the best course of action under the current circumstances. So, is crypto beneficial in the light of Russias invasion of Ukraine or are these digital assets more trouble than theyre worth? The answer may not be so straightforward.
The Ukrainian side
Crypto has increasingly become a more mainstream component of the global financial system, which also means that it is now a significant part of international warfare. This was made evident when Russia invaded Ukraine which led to millions of dollars in crypto being donated to help Ukraine fight against their neighbors. In fact, many Ukranians are currently relying on crypto for long-term storage and plan to make conversions back to fiat as soon as the conflict ends.
Some Ukrainians are thus turning to cryptocurrencies as a viable substitute for local financial institutions, which are reportedly restricting access to bank accounts and international funds. In a situation when governments are in disarray, it is therefore difficult to rely on traditional banks, not to mention the long-lasting effect of the increasing apprehension about surveillance. As a result, a largely anonymous system with no government involvement could indeed be very desirable.
But what about Russia?
The romantic version of crypto in crisis, which portrays it as a valid alternative for individuals in desperate situations, inadvertently obscures the industrys darker side. Its an important point to consider, particularly in relation to Russia.
Well before Russia invaded Ukraine, the U.S administration was concerned that cryptocurrencies might dilute the impact of economic sanctions. In the past, Iran had employed Bitcoin mining to circumvent trade embargoes, for instance.
Restricting Russian access to crypto might have serious consequences for the country's economic longevity as cryptocurrencies have rapidly grown in popularity there since Russia is also the worlds third biggest BTC miner. Additionally, just as pro-Ukrainian parties have been able to raise funds using cryptocurrencies, so have pro-Russian separatist movements in Ukraine, particularly in 2014 when Russia attacked and occupied Crimea.
Whats the solution?
Ultimately, its difficult to ascertain what the best course of action is right now. The recent situation in Canada involving The Freedom Convoy is yet another example of the growing use-case for crypto. Still, we will have to wait and see how this industry continues to grow and in which direction.
Bitcoin Ban Dropped From EU’s Regulatory Plans
A portion of a planned regulation in the European Union has been reportedly cancelled which would have otherwise made it illegal for cryptocurrency services to deal in coins based on PoW (Proof-of-Work). PoW is the consensus process that both Bitcoin (BTC) and Ethereum (ETH) utilize for mining purposes as well as to protect their respective networks.
The role of MiCA
The MiCA (Markets in Cryptocurrency Assets) bill was introduced by a coalition led by Stefan Berger and was initially scheduled for a vote in the European Parliament on February 28th. However, it was postponed when many members of parliament objected to a clause about PoW. Berger verified that paragraph 61 (9c) of the bill was eliminated entirely following the influx of objections and complaints.
MiCA has the ability to greatly impact European crypto adoption. It was first suggested two years ago and would essentially force the European Central Bank to create consistent rules for crypto-asset service providers as well as issuers at the EU level. In a nutshell, it would provide a comprehensive regulatory framework for cryptocurrency assets throughout the EU, something the United States and other countries are currently still working on.
Environmental concerns or something more?
It is no secret that one of the biggest criticisms made against the crypto industry is that mining digital assets such as Bitcoin is causing irreversible damage to the ecosystem. Environment-related anxieties are also weighing heavily on Europe, whose member countries all strive to reach the Paris Agreement's climate standards. Finanspektionen, Sweden's financial regulator, had even suggested a complete ban on mining BTC and various other PoW coins last year, stating that the energy expense was simply not worth the advantages.
Nevertheless, many remain hopeful for this industry and are optimistic about its chances following the aforementioned decision by the EU to get rid of the regulatory aspect which would have adversely affected the crypto sector in all of Europe.
Visa and Mastercard Have Joined PayPal In Ceasing Business Operations In Russia
Visa and Mastercard have now joined PayPal in ceasing business operations in Russia, highlighting the country's continuing invasion of Ukraine as the main reason. Many believe that this will lead to the Russians relying more heavily on crypto from now on as a result.
Visa has already started working towards discontinuing all transactions in Russia, although it will reportedly take a couple of days. Mastercard has similarly stated that it will stop its network services in Russia as soon as possible.
According to Al Kelly, CEO and Chairman of Visa Inc., the payment processor felt obligated to act following Russia's invasion of Ukraine, and the deplorable actions that have since been observed.
Moreover, Mastercard claims that in addition to barring specific Russian financial institutions, it will also discontinue support for any and all cards issued by Russian banks and shall even prohibit transactions using cards that were issued outside Russia but were still used at various Russian ATMs or merchants.
Lethbridge College teams up with Liquid Avatar Technologies to create a virtual campus in the metaverse
Lethbridge College teams up with Liquid Avatar Technologies to
create a virtual campus in the metaverse
A virtual Lethbridge College will be the first of its kind, allowing students to occupy property in
March 3, 2022  Today, Lethbridge Colleges Centre for Technology, Environment and Design
(CTED) announced that it is partnering with Liquid Avatar Technologies Inc., a publicly traded
global blockchain and fintech solutions company, to launch a first of its kind work-integrated
learning opportunity for students. Liquid Avatar Technologies is providing 9,000 plots of land
within its Aftermath Islands Metaverse a network of spaces where users can create a virtual
world parallel to their physical one. Students will begin engaging in the new program and
mentorship opportunities by the end of the winter 2022 semester.
Collectively named Lethbridge College Island, on Aftermath Islands, Lethbridge students will
learn how to work, play, learn, game, entertain and earn in the metaverse. In addition to the
virtual land, up to 100,000 in-game currency credits are being made available to the college.
Those credits can be used to build, buy and trade assets like additional property, objects,
landscape items and even avatars.
Students in Interior Design Technology, Virtual and Augmented Reality and Architectural
Animation Technology programs will build on the virtual island creating structures and
businesses and completing transactions. Each student will receive a plot of virtual land. The plot
and all the assets they create for it will remain their property for as long as they choose. The
college will also have a significant parcel of virtual land to provide students with virtual events,
learning and other services.
Im so excited for this partnership with Liquid Avatar Technologies, says Cherie Bowker, chair
of Lethbridge Colleges School of Spatial Design Technologies. Our students will learn so much
about entrepreneurship and building in the metaverse and will gain a much greater
understanding of digital space and digital identity while these worlds evolve and grow. We are
proud of how we lead in this space, and we are thrilled to work with the skillful, talented and
creative Liquid Avatar team.
David Lucatch, President, CEO and Chair of Liquid Avatar Technologies, has spent the past 25
years developing technologies and taking them to market. Part of his recent resume includes
co-founding Aftermath Islands Metaverse a planned virtual environment that provides online
users with theme-based first-person Augmented Reality (AR) and Virtual Reality (VR)
experiences, quests, games and integrated e-commerce activities. David, and the team at
Liquid Avatar Technologies will also be mentoring Lethbridge College students to further
process their education in the metaverse.
Providing the next generation of creative and technical thinkers with the tools to engage in
new technologies that are primed to change consumer behaviour is an exciting opportunity for
Liquid Avatar Technologies and Aftermath Islands, said David Lucatch, President, CEO & Chair,
Liquid Avatar Technologies and Managing Director of Aftermath Islands Metaverse Limited. We
envision this collaboration with Lethbridge College as a sandbox for learning and acquiring
significant tangible experience, providing Canadian students with an advantage when entering
the evolving job market.
CTED students will have hands-on opportunities to build out Lethbridge College Island by
working closely with experts in the field, as well as faculty, who will mentor them in the
development of the property.
Our students are sure to gain a better sense of working outside their comfort zones as they
tackle real-world problems and develop core competencies such as collaboration and leadership,
while at the same time increasing their employability, says Candace Lewko, Associate Dean of
the Centre for Technology, Environment and Design. We are confident our students will be
making an impact and will be equipped with all the skills necessary to join the workforce.
About Lethbridge College
Established in 1957 as Canadas first publicly funded community college, Lethbridge College is a
board-governed institution serving the training and applied research needs of southern Alberta.
As we approach our 65th anniversary, we look to the horizon and recognize the need to address
our growing populations of learners, and to facilitate innovation and new opportunities. We will
continue to build on our successes and stay in tune with the changing world of technology and
About Aftermath Islands Metaverse Limited - www.aftermathislands.com
Aftermath Islands Metaverse Limited is a Barbados corporation which is 50% owned and is
controlled by Oasis Digital Studios Limited, a wholly owned subsidiary of Liquid Avatar
Aftermath Islands as first described in the initial whitepaper published in 2017 and then
subsequently updated, was based on the premise of a water-world with islands that
represented destinations in a global virtual game. Since then, the Aftermath Islands metaverse
has evolved and now represents exciting themed based islands, communities, and estates
where players can experience a wide range of adventures and opportunities.
In Aftermath Islands virtual world, users can buy, develop, trade, and sell Virtual Land (VL),
property and assets, like buildings, crafted items, transport, and other items all through NFTs, a
non-fungible token that represents the ownership of virtual and other assets. Each plot or
parcel of VL is unique and owners get to choose what content they want to publish on their VL.
This can range from simple scenery and structures to an interactive game, store, warehouse,
dwelling, facility, or destination. Users can purchase VL as well as all other goods and services
in Aftermath Islands with CREDITS, the current code name for in-game currency, fiat and other
authorized currencies, coins, and tokens.
Aftermath Islands is a shared virtual world, much like the Metaverse described by author Ernest
Cline in his science-fiction novels Ready Player One and Ready Player Two. Expected to launch
mid-2022, Aftermath Islands will allow users to connect and interact with each other, create
content, craft, participate in activities and quests and play games. Aftermath Islands will have a
virtual economy where users can engage in a myriad of in-world economic transactions as well
as monetize the content, items, quests, and applications they build.
For more information about Aftermath Islands, please visit www.aftermathislands.com
About Liquid Avatar Technologies Inc. - www.liquidavatartechnologies.com
Liquid Avatar Technologies Inc. focuses on the verification, management and monetization of
Self Sovereign Identity, empowering users to control and benefit from the use of their online
The Liquid Avatar Mobile App, available in the Apple App Store and Google Play is a verified Self
Sovereign Identity platform that empowers users to create high quality digital icons
representing their online personas. These icons allow users to manage and control their digital
identity and Verifiable Access and Identity Credentials, and to use Liquid Avatars to share public
and permission based private data when they want and with whom they want.
The Liquid Avatar Verifiable Credentials Ecosystem (LAVCE) has been developed to support all
participants in a digital credential ecosystem, including the Holder, Issuer and Verifier, using
state-of-the-art blockchain and open standards technologies initially as a node on the Indicio
Network. The Company is a voting and steering committee member of the Trust over IP
Foundation, founding and steering committee member of Cardea, a Linux Foundation Public
Health project, member of the Good Health Pass collaborative, DIACC, the Covid Credentials
Initiative ("CCI"), The Linux Foundation and a founding member of the Lumedic Exchange.
The Company has a suite of early-stage revenue generating programs that support the Liquid
Avatar Mobile App program, including KABN KASH, a cash back and reward program that has
over 500 leading online merchants and is working to release its own branded network payment
The Companys subsidiary, Oasis Digital Studios, is a creative and development agency that
supports a wide range of artists, talent, and enterprises with Non-Fungible Token (NFT)
solutions and has acquired 50% and control of the Aftermath Islands Metaverse program.
Liquid Avatar Technologies Inc. is publicly listed on the Canadian Securities Exchange (CSE)
under the symbol "LQID" (CSE:LQID).
The Company also trades in the United States, on the OTCQB under the symbol "LQAVF" and in
Frankfurt under the symbol "4T51".
If you have not already joined our mailing list and would like to receive updates on Liquid
Avatar Technologies Inc., please click here to join!
For more information, please visit www.liquidavatartechnologies.com
For further information, please contact:
Chief Executive Officer
647-725-7742 Ext. 701 [email protected]
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
All websites referred to are expressly not incorporated by reference into this press release.
Forward-Looking Information and Statements
This press release contains certain forward-looking information within the meaning of applicable
Canadian securities legislation and may also contain statements that may constitute forward-looking
statements within the meaning of the safe harbor provisions of the United States Private Securities
Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not
representative of historical facts or information or current condition, but instead represent only the
Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are
inherently uncertain and outside of the Companys control. Generally, such forward-looking information or
forward-looking statements can be identified by the use of forward-looking terminology such as plans,
expects or does not expect, is expected, budget, scheduled, estimates, forecasts, intends,
anticipates or does not anticipate, or believes, or variations of such words and phrases or may contain
statements that certain actions, events or results may, could, would, might or will be taken, will
continue, will occur or will be achieved.
The forward-looking information and forward-looking statements contained herein include, but is not
limited to, statements regarding the future launch of in-game activities, sales of digital and physical
collectibles, Non-Fungible Tokens and other related products through Oasis Digital Studios and / or its
clients, partners and other service providers, statements regarding the future capabilities of LAVCE or the
operation of an Indicio Network Node, expected geographic expansion, the ability of the Company to
generate revenues, roll out new programs and to successfully achieve business objectives, and expectations
for other economic, business, and/or competitive factors.
By identifying such information and statements in this manner, the Company is alerting the reader that
such information and statements are subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance, or achievements of the Company to be
materially different from those expressed or implied by such information and statements.
Although the Company believes that the assumptions and factors used in preparing, and the expectations
contained in, the forward-looking information and statements are reasonable, undue reliance should not
be placed on such information and statements, and no assurance or guarantee can be given that such
forward-looking information and statements will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such information and statements. The forward-looking
information and forward-looking statements contained in this press release are made as of the date of this
press release, and the Company does not undertake to update any forward-looking information and/or
forward-looking statements that are contained or referenced herein, except in accordance with applicable
Lugano, Switzerland, Has Struck A Collaboration With Stablecoin Issuer Tether
Lugano, Switzerland, has struck a collaboration with stablecoin issuer Tether in order to establish BTC, USDT, and Lugano's homegrown LVGA Points as potentially legal tender within the city.
The measure goes well beyond the acts of a handful of other Swiss municipalities that have been readily accepting crypto for tax payments for some time. Much like El Salvador, Lugano aims to have all of its companies smoothly utilize crypto for daily transactions as well as allow crypto for taxation purposes.
In related news, Mayor Michele Foletti of Lugano stated that the recent agreement with Tether will go a long way in assisting the city scale up its fintech activities and future growth.
Mayor Foletti added that in recent years, Lugano has been deeply engaged with crypto and blockchain technology, which includes the work on LVGA Points citizen payment tokens, NFTs, and various other blockchain advancements.