Meta Digest

Nvidia top executive dismissive of crypto

Nvidia — Nvidia is a technological juggernaut that has built a name for itself in the gaming industry.

But, the company has also been recognized for its contributions to the growth of the cryptocurrency sector, namely crypto mining.

One would think that its relationship with digital money and assets would be favorable, yet the firm looks to be anti-crypto.

Nvidia’s chief technology officer (CTO) recently reprimanded the crypto business for failing to make a significant contribution to society.

The news

In recent years, Nvidia, a computer hardware manufacturer, has generated a nice profit from the cryptocurrency mining market.

But, several were astonished when the company’s CTO, Michael Kagan, blasted Bitcoin.

According to The Guardian, Kagan claimed that cryptocurrencies in general provide little societal value.

Instead of cryptocurrency mining, he wants Nvidia products to be employed in the development of artificial intelligence.

“All this crypto stuff, it needed parallel processing, and [Nvidia] is the best so people just programmed it to use for this purpose,” said Kagan.

“They bought a lot of stuff, and then eventually it collapsed, because it doesn’t bring anything useful for society. AI does.”

Resurgence & merit

It’s impossible to blame Kagan for claiming that the crypto industry has fallen.

Over the majority of 2022, bitcoin values had reached new lows, causing many to believe that cryptocurrency was doomed.

Yet, a number of cryptocurrencies have experienced a revival in recent months.

The two most valued cryptocurrencies by market capitalization, Bitcoin and Ethereum, have finally rebounded.

In the previous month, Bitcoin has climbed by 17%, while Ethereum has increased by 7%.

Furthermore, the expanding Web3 gaming industry has taken a good turn.

Michael Kagan, on the other hand, continues to disregard crypto.

“I never believe that [crypto] is something that will do something good for humanity,” he explained.

“You know, people do crazy things, but they buy your stuff, you sell them stuff. But you don’t redirect the company to support whatever it is.”

Read also: Blockchain Gaming: Is Play-to-Earn the Future of Gaming?


Nvidia has an unusual relationship with the bitcoin industry.

Prior to Ethereum’s decision in September 2022 to switch to a more energy-efficient proof-of-stake design, the general public wanted graphic cards for their cryptocurrency operations.

At the time, there was a high demand for powerful graphics cards, which Ethereum miners needed to mine token rewards under the early proof-of-work model.

Nevertheless, a problem arose when the pandemic struck, resulting in a supply chain gap that hampered chip availability.

As a result, the cost of GPUs has risen dramatically, making it nearly impossible for gamers to buy the latest generation of graphics cards.

Crypto proceeded to infiltrate and steal cards from Nvidia’s intended market: gamers.

Instead, the firm attempted to put hashrate limitations on its devices, prompting hackers to devise a workaround.


In 2022, hackers hacked Nvidia’s data and claimed to have a modified driver capable of circumventing the company’s graphics card restrictions, which had previously banned bitcoin mining.

The researchers assert that their patched driver may deactivate Nvidia’s RTX 3000 GPU’s hash rate cap.

“If someone buys us the LHR, we will provide ways to fuck LHR without flashing anything,” the hackers wrote.

“Without flashing = big money for any miner developer.”

In addition, hackers provided documentation and buildable source code.

Nvidia later released equipment designed exclusively for bitcoin miners.

The Nvidia Cmp Hx was created to dissuade crypto enthusiasts from stealing chips from games.

The chip is designed for professional mining operations.

Profit & SEC involvement

While Kagan isn’t a big fan of cryptocurrencies, it’s hard to deny that it’s been a large contributor to Nvidia’s profitability for years.

In 2017, the company’s income from original equipment manufacturers (OEM) climbed by 200%.

“Our PC OEM revenue increased by approximately 200% due primarily to strong demand for GPU products targeted for us in cryptocurrency mining,” the company wrote at the time.

In 2022, the SEC fined the company for failing to notify the impact of cryptocurrency mining on the gaming sector.

Following that, the agency published a statement saying:

“Without admitting or denying the SEC’s findings, Nvidia agreed to a cease-and-desist order and to pay a $5.5 million penalty.

Image source: Polemos

Apple’s updated review guidelines map out new NFT policies

Tech giant Apple remains adamant about its controversial stance on NFTs and is responding to it with updated App Store policies.

According to Apple Insider, Apple released its updated NFT review policies on Monday.

NFTs can exist in App Store’s apps but cannot unlock additional features or content.

The guidelines

Per the policy, apps can use in-app purchases to sell NFTs and NFT-related services, such as:

  • Minting
  • Listing
  • Transferring

“Apps may allow users to view their own NFTs, provided that NFT ownership does not unlock features of functionality within the app,” the guidelines read.

How it affects users

Apple’s policies are likely to discourage users from purchasing NFTs.

NFTs typically unlock token-gated content such as NFT Moonbirds and NFT Bored Ape Yacht Club.

NFT holders get exclusive access to merchandise, various communication channels and other benefits.

Developers will not have the authority to create buttons, external links, or calls to action that indicate how users can navigate the App Store to purchase NFT via other platforms.

Instead, the App Store wants users to make in-app purchases.

They are also not allowed to pay in cryptocurrencies.

The importance of the guidelines

App Store Review Guidelines tell developers what they can and cannot publish to the App Store.

If they violate the guidelines, Apple will reject or remove the apps.

Apple announced that it would take a 30% cut of all NFTs sold in apps offered through its App Store in the past.

The new update coincides with its previous announcement.

Last month, the news disappointed Tim Sweeney, the CEO of Epic Games and a crypto enthusiast.

He said Apple should be stopped because its decision crushed “nascent technology” that could rival its overpriced in-app payment service.

Other notes

Besides NFTs, Apple is changing some of its language regarding cryptocurrency exchange apps on the App Store.

“Apps may facilitate transactions or transmissions of cryptocurrency on an approved exchange,” the guidelines wrote.

“Provided they are offered only in countries or regions where the app has appropriate licensing and permissions to provide a cryptocurrency exchange.”


Apple bans using NFTs to unlock content, features in apps

Image source: Tech Crunch

Jon Tester, US Senator, still dismissive of crypto

Image source: ABC News

Jon Tester, the Montana farmer and teacher who became a US Senator, recently appeared on NBC’s “Meet the Press” Sunday.

Tester shared that cryptocurrency regulation will encourage people to “think it’s real.”

Speaking with host Chuck Todd, the Senator said crypto failed his “smell test.”

The news

Democratic Senator Jon Tester was invited to “Meet the Press,” where he discussed the defection of former Democratic Senator Kyrsten Sinema.

Toward the end, he talked about cryptocurrency.

“You used some colorful language to describe crypto,” asked Chuck Todd. “Should the government be regulating it or banning it?”

“One or the other,” replied Tester.

“I have not been able to find anybody who’s been able to explain to me what’s there other than synthetics – which means nothing,” the Senator continued.

“The problem is… if we regulated it, it may give the ability to think it’s real.”

Jon Tester concluded his thoughts regarding cryptocurrency by saying:

“I’m not a regulator, and I’m not a financial person that does regulation.”

“I see no reason why this stuff should exist. I really don’t.”


Although Jon Tester claims he is not a regulator, his role on the Senate Banking Committee means he can influence one of the key decision-making bodies debating regulation of the struggling crypto industry.

In addition, Jon Tester’s website says:

“Senator Tester brings a rural perspective to this committee to make sure that laws and policies work for small banks, credit unions, small businesses and consumers in rural America.”

The Senator has never shied away from his disdain for cryptography.

Last week, he told Semafor that it was all “bullshit.”

Read also: Dogecoin plummets overnight, suffers major loss


After the midterm election in the United States, Democratic senators regrouped on the Banking Committee agenda.

A roll call report says party leaders were skeptical of the Digital Commodities Consumer Protection Act (DCCPA).

This would make the CFTC the primary crypto regulatory agency in the United States, rather than the Securities and Exchange Commission or other agencies.

The DCCPA is also known as the Stabenow-Boozman bill.

In addition, the decision to authorize the CFTC was also supported by Sam Bankman-Fried.

SBF has become an international pariah since the collapse of FTX and Alameda Research.

According to Roll Call, Senator Jon Tester warned against giving cryptocurrency a wider reach.

He also objected to the fact that the Stabenow-Boozman bill was presented to the Senate Agriculture, Nutrition and Forestry Committee, of which Republican Senator John Boozman is a senior member.

“It needs to be done in this committee, not [agriculture], so CFTC is a ‘no,'” said Tester.

Past criticisms

In 2019, Senator Jon Tester was an outspoken critic of Facebook’s failed Libra cryptocurrency initiative.

He compared the threat of inadequate controls in crypto to the 2008 financial crisis.

“In 2008, there was a run on the banks, there were some big companies that went belly up, including 157 banks, Lehman Brothers, WAMU, Bear Sterns, and others, said Tester.

“Nobody anticipated that there was going to be a run like this. Nobody.”

The Senator wondered if Facebook could avoid a similar collapse.

“I still felt confident my money was safe [in 2008],” he continued.

“How can you assure us, how can we be assured, that our money is going to be there?”


US Senator says he sees ‘no reason why’ crypto exists

Cryptocurrency lawsuit set to conclude soon

Image source: Analytics Insight

Cryptocurrency is no stranger to trouble, and scams have become a major presence in the crypto space, resulting in lawsuits.

Kim Kardashian and Floyd Mayweather are high-profile names who have been in a legal battle with EthereumMax, the leading Ethereum cryptocurrency.

Lawyers accused them of defrauding cryptocurrency investors.

However, the two will likely win the case.

The ruling

On Monday, US District Judge Michael Fitzgerald issued a court ruling stating that the investor attorneys behaved like the SEC.

Preliminary rulings show how a judge decides on a case before trial.

Earlier this year, investors sued several celebrities.

They claimed that Kim Kardashians and Floyd Mayweather worked to inflate the price of EthereumMax tokens and dump them, leaving others out of their pockets.

Read also: Blockchain industry set to flourish in the Middle East


Ethereum is the blockchain of the second-largest cryptocurrency in the world, and EthereumMax is its token.

The token made headlines in 2021 when celebrities began to promote it.

However, it doesn’t seem to be of any use.

Judge Fitzgerald noted that Kardashian and Mayweather did not want to call EthereumMax a security “for obvious reasons.”

Read also: Aave CEO Stani Kulechov dismisses Web3 integration anytime soon

Kim Kardashian

Last month, Kim Kardashian agreed to pay the SEC $ 1.26 million to settle charges against her accusing her of going down EMAX.

The TV celebrity teased a big announcement with an Instagram story in which she talked about EMAX tokenomics.

While they reached a deal, Kim Kardashian neither acknowledged nor denied the regulator’s allegations.

SEC President Gary Gensler said the government agency took over the high-profile case.

The case fell on them because Kardashian’s post didn’t mention how much she was paid to promote EMAX, a necessary step in promoting the titles.

Charles Randell, the chairman of the UK’s Financial Conduct Authority, labeled the stardom’s stance as “the financial promotion with the single biggest audience reach in history.”


Kim Kardashian, Floyd Mayweather set to win Ethereum Max lawsuit

Cryptocurrency rally is good, but people are wary

Image source: Watcher Guru

Cryptocurrency: Recently, cryptocurrencies have improved with an increase in price, notably Bitcoin and Ethereum.

The positive news, however, also reignites a discussion that frequently arises in these circumstances: will the market bounce, or will the current patterns just result in another severe crash?

Bitcoin reached an all-time high selling price of $69,000 in November 2021.

Higher interest rates and the demise of well-known companies, like FTX and Three Arrows Capital (3AC), among others, have since hit the digital coin.

Cryptocurrency movement

The price of the top cryptocurrency has dropped by approximately 67% since November 2021, while other digital assets, such as stocks, are doing well so far in 2023.

Bitcoin’s price this month increased by 38% to $22,893.39, which is the highest level since August 2022.

The price of the Ethereum (ETH) cryptocurrency increased by 38% to $1,635.68.

In anticipation of the economic data that suggested a slowdown in inflation in December, cryptocurrency prices have so far increased in January.

The figure is also encouraging, which increases the likelihood that the Federal Reserve will raise rates less aggressively than it did last year in an effort to rein in skyrocketing prices.


Although the news has largely been positive, several are issuing cautionary statements.

Crypto analysts think the current rise is a trap and that the recent increase is too good to be true.

Commentators also predict that the rise will suddenly collapse, hurting many traders who thought it signaled the beginning of a fresh rally.

Others are similarly dubious about the cryptocurrency boom.

A famous Bitcoin website on Twitter conducted a poll with 18,000 participants, who labeled the rally as a bull trap.

Il Capo Of Crypto, a well-known crypto enthusiast and analyst, concurred with him.

Read also: Coinbase stock price jumps after settlement

“I’ve been checking charts all this time, avoiding noise from Twitter,” he wrote.

“The way the upward movement is happening, the way htf resistances are being tested…it clearly looks manipulated, no real demand.”

“Once again, the biggest bull trap I’ve ever seen. But they won’t trap me.”

Suspicions about the professed crypto experts spread around the space.

It even made it to Reddit, where one person challenged observations by citing a news story about the market bottom.

“Hard to believe that it was only a week or so ago that everyone and their analyst was solemnly and confidently proclaiming that [Bitcoin at] 12k was inevitable and unavoidable,” said the user.

Jim Cramer

Last Wednesday, Jim Cramer, head of CNBC’s Mad Money, weighed in and called the crypto rebound a manipulation.

“The manipulation higher of crypto shows you this is truly a sham market,” Cramer tweeted.

The accuracy of Cramer’s analysis was uneven.

It was made fun of, leading to the creation of memes and other parody accounts.

One account, for instance, is known as “Inverse Cramer ETF,” a fictitious Exchange-Traded Fund that promotes the exact opposite of Cramer’s advice.

Several articles also made fun of the Mad Money host’s opinions, viewing his pessimism as a sign of positivity.

Kraken’s head of growth marketing, Dan Held, mockingly raised a glass and responded, “Bottom is in!”

A positive outlook

Other influential accounts were optimistic while others were cautious.

PlanB said that the Bitcoin surge signaled the beginning of a new bull market in digital assets.

Other community members made the decision to use it as an opportunity to make fun of those who are wary of investing in cryptocurrency because they can suffer more losses.

Wall Street

Also perplexed by the rising crypto values is Wall Street.

JP Morgan analysts published a research paper last Friday, but it fell short of properly explaining the surge in its entirety.

They agreed, however, that market conditions for riskier assets had improved, citing the most recent inflation data.

“We don’t have a great answer on the January-to-date rally of crypto, we do think it is emblematic of the underlying conviction many still have in cryptocurrencies,” they wrote.

“The crypto-bulls and whales seem to have been reinvigorated.”

Coinbase joins slew of companies laying off workers

Image source: Forbes

Coinbase: Considering all the cutbacks in the technology industry, Coinbase will reduce 1/5th of its personnel.

The strategy aims to protect money as the crypto market deteriorates further.

The news

According to a blog post posted on Tuesday morning, the crypto company plans to lay off 950 employees.

After an 18% staff reduction in June, Coinbase had over 4,700 employees by the end of September.

The company attributed the layoffs to cost-cutting efforts and rapid expansion amid the bull market.

“With perfect hindsight, looking back, we should have done more,” said Coinbase CEO Brian Armstrong.

“The best you can do is react quickly once information becomes available, and that’s what we’re doing in this case.”


According to Coinbase, the decision would incur additional costs in the first quarter ranging from $149 to $163 million.

For the quarter ending in March, Coinbase’s operating expenses will shrink by 25% as a result of the layoffs and other restructuring initiatives.

Additionally, the company anticipates that its 2023 adjusted EBITDA losses won’t surpass the $500 million “guardrail” it established a year ago.

Brian Armstrong remarked that it was evident they would need to lower spending to improve their chances of surviving each scenario following several stress tests for the annual revenue.

He claimed that cutting back on staff was the only way to accomplish the objective.

Coinbase will also cancel a slew of low-probability projects.

The FTX factor

The FTX collapse significantly impacted around the end of 2022 despite the cryptocurrency market being volatile throughout most of the year.

The strain that FTX and its founder Sam Bankman-Fried put on the cryptocurrency sector was underlined by Armstrong.

“The FTX collapse and resulting contagion has created a black eye for the industry,” said the Coinbase CEO.

“We may not have seen the last of it – there will be increased scrutiny on various companies in the space to make sure that they’re following the rules.”

“Long term, that’s a good thing. But short term, there’s still a lot of market fear.”

Due to investors being wary of riskier assets during the downturn, cryptocurrency and technology stocks have underperformed over the past decade.

Shares of Coinbase have fallen by 83% in the last year, while those of Bitcoin has fallen by 58%.

Read also: Niall Dailly set for a unique music experience with NFTs

Other companies and job cuts

Coinbase and several other tech firms went on a hiring binge at the start of the 2020 pandemic.

But many businesses are now rapidly dismissing their workers.

  • Amazon is dismissing 18,000 workers.
  • A 10% employee reduction was recently announced by Salesforce
  • Elon Musk cut back on half of the Twitter staff
  • Over 13% of Meta’s employees were let go
  • Fewer people were left employed by crypto firms Genesis, Gemini, and Kraken.

“Every company in Silicon Valley felt like we were just forced on growth, growth, growth, and people were almost using headcount as a symbol of how much progress they were making,” said Armstrong.

“The focus now is on operational efficiency – it’s a healthy thing for the ecosystem and the industry to focus more on those things.”

Coinbase had 2,000 new hires in the product, engineering, and design sectors planned for the beginning of 2022.

Since then, according to Brian Armstrong, he has been working to change Coinbase’s culture to resemble a startup with smaller, more agile teams.

The company

The stock price of Coinbase has decreased since its IPO more than two years ago.

The stock surged to $429.54 upon launch but now trades for less than $40.

On their personal accounts, Coinbase will send emails to employees who are being let go, and access to the systems will be blocked.

According to Brian Armstrong, even though the access limitation seemed excessive, it was their only option for protecting client information.

Armstrong is confident that the cryptocurrency business won’t vanish anytime soon despite a chain reaction of bankruptcies and a decline in transaction volume.

As a result of losing its greatest rival, Coinbase eventually gained the upper hand following the FTX crash.

According to Armstrong, the eventual change in regulatory clarity validates the business’s intention to grow and go public in the United States.

He compared the current state of affairs to the early days of the internet.

“If you look at the internet era, the best companies got even stronger by having rigorous cost management,” said Armstrong.

“That’s what’s going to happen here.”


Coinbase to slash 20% of workforce in second major round of job cuts

Coinbase stock price jumps after settlement

Image source: Fintech Magazine

Coinbase: The cryptocurrency exchange site Coinbase had a sharp increase on Wednesday.

Following a $100 million settlement with the New York Department of Financial Services, the exchange’s stock price rose.

Following the agreement, COIN, which is listed on the Nasdaq Composite, was up more than 12% and was trading at $37.34 per share.

The settlement

Issues with the company’s compliance programs were settled between the company and the New York Department of Financial Services.

The cryptocurrency exchange must therefore pay a $50 million fine as a result.

Coinbase must also invest an additional $50 million to improve its capacity to adhere to financial regulations, such as transaction monitoring and KYC requirements.

The New York Banking Law and state rules surrounding the following were broken by the company, according to the Department of Financial Services, which said it failed to comply with a program.

  • Cybersecurity
  • Money transmitting
  • Transaction monitoring
  • Virtual currencies

Company vulnerability

The NYDFS claimed that Coinbase’s compliance program had issues that left it open to the following risks:

  • Activities related to narcotics trafficking or child sexual abuse material
  • Fraud
  • Money laundering

The Superintendent of Financial Services, Adrienne A. Harris, stated:

“It is critical that all financial institutions safeguard their systems from bad actors.”

“Coinbase failed to build and maintain a functional compliance program that could keep pace with its growth.”

The NYDFS asserted that the business has already begun to enhance its practices.


Coinbase’s treatment of the KYC rule and customer due diligence requirements was deemed by New York regulators to be a “check-the-box” activity.

The exercise was also deemed to be insufficient.

The department also learned the company has a sizable backlog for keeping an eye on suspicious transactions.

By the end of 2021, there were more than 100,000 unreviewed alerts.

As a result, some of the transactions that Coinbase highlighted weren’t examined for several months.

The NYDFS installed an independent monitor at the beginning of 2022 as a result of the company’s failure.

In order to resolve concerns with the company’s procedures, the monitor assessed the company’s compliance program.

The monitor will continue to work with Coinbase for an additional year as part of the settlement.

Read also: Jon Tester, US Senator, still dismissive of crypto

Price jump

Investors who now have a good understanding of the company’s regulatory issues are likely to have contributed to the surge in Coinbase stock’s (COIN) price.

The NYDFS inquiry was first mentioned by the cryptocurrency exchange platform in a late 2021 SEC report as a potential risk to its business operations.

But the regulator’s most recent statement effectively put an end to the matter.

SEC investigation

Despite the good news, an SEC inquiry against Coinbase is still imminent.

A probe into whether the SEC should permit Americans to trade digital assets that ought to have been registered as securities was launched against the corporation in July 2022.

A past insider trading case involving a former Coinbase employee who was suspected of breaking the company’s insider trading policies provides the basis for the current investigation.

The former worker allegedly told his brother and a friend about impending token listings, according to the accusation.

The agency discovered that the accused traded the following tokens:

  • AMP (AMP)
  • Rally (RLLY)
  • DerivaDEX (DDX)
  • XYO (XYO)
  • Rari Governance Token (RGT)
  • LCX (LCX)
  • Powerledger (POWR)
  • DFX Finance (DFC)
  • Kromatika (KROM)


In April 2021, the exchange platform for cryptocurrencies first went public.

It joined the US stock exchange as the country’s first significant cryptocurrency startup.

At the time, the cryptocurrency market was booming, with trades for Bitcoin reaching $63,000.

People consequently developed an interest in investing in cryptocurrencies.

COIN made its debut for an incredible $381, which was 52% more expensive than its $250 reference price.

But a sudden crypto and stock market collapse occurred in 2022.

Crypto ventures, businesses, and almost every coin’s price on the market were decimated by the severe bear market.

Since that time, COIN’s value has decreased considerably, plummeting 90% from the time it was first launched.


Coinbase stock price jumps 12% following $100M NYDSF settlement

Coinbase reaches $100 million settlement with New York regulator over compliance programs

SEC launches probe into Coinbase over alleged securities listing: report

SEC claims Coinbase currently lists nine crypto assets that are securities

Solana gets positive start for 2023

Image source: Bloomberg

Solana: The cryptocurrency market has been quite volatile over the past year, with some coins rising while others were plummeting.

Solana, however, is off to a strong start in 2023 as its price surges.

The price of Solana (SOL) increased by 12.7% over the past 24 hours based on CoinGecko.

As a result, after a few days of trading below double digits, the price increase propelled the cryptocurrency to recapture $11.

As of this writing, Solana costs $11.11.


Vitalik Buterin, the creator of Ethereum, tweeted last week to express his support.

“Some smart people tell me there is an earnest smart developer community in Solana,” he wrote.

“[And] now that the awful opportunistic money people have been washed out, the chain has a bright future.”

“Hard for me to tell from outside, but I hope the community gets its fair chance to thrive.”

The cryptocurrency

Solana’s New Year rally has increased support, but it hasn’t undone the beating the so-called “Ethereum killer” has received in recent months.

Solana’s value is down -19.3% from a month ago and -93.8% from a year ago.

Additionally, the value of the cryptocurrency has decreased by 95% after reaching an all-time high of nearly $260 in November 2021.

Furthermore, SOL dropped from being the fifth-largest cryptocurrency by market cap in November 2022.

It recently dropped to outside the top 20.

But Solana is now occupying the 18th position.

Read also: Caroline Ellison’s statements implicates SBF

FTX/Alameda ties

The collapse of the cryptocurrency exchange FTX is most likely to blame for the recent decreases in the value of cryptocurrencies.

The Solana Foundation disclosed information about its financial connections to FTX and its sibling company Alameda Research in November.

Due to its connections to the cryptocurrency exchange and Sam Bankman-Fried, Solana sustained one of the more significant losses from the crash compared to other cryptocurrencies.

The Solana Foundation claimed that on November 6, before the site stopped allowing withdrawals, it had over $1 million in cash or assets of a similar value on FTX.

Currently, the assets are locked on the platform.

The Foundation added that it only represents a small portion of its overall funding—less than 1%.

Other shares

3.43 million FTT tokens and 134.54 million SRM tokens from the decentralized exchange Project Serum were also held by the Solana Foundation in addition to 3.24 FTX Trading LTD common stock.

The total value of the SRM tokens was over $29.3 million, while the total value of the FTT tokens was over $4.36 million.

The price of the tokens dropped significantly, though.

In addition, FTX and Alameda Research acquired over 50.5 million SOL from the Foundation for about $708 million.

Until 2028, a substantial section of the SOL is restricted to monthly unlock schedules.

Abandoning ship

Since then, several significant projects have declared their intention to depart the Solana ecosystem.

Two prominent Solana NFT projects declared their departure from the blockchain last week.

The crypto community was stirred by the news from DeGods and y00ts.

DeGods disclosed that they would shift to Ethereum in early 2023, while y00ts, a sister project, would transfer to Polygon at the beginning of this year.

As a result, the DUST coin from DeGods will move to the respective blockchains.

Read also: Jon Tester, US Senator, still dismissive of crypto


The announcement prompted differing opinions from the Solana NFT ecosystem and community members.

Some were happy to see it happen, while others disagreed.

CEO of Polygon Studios Ryan Wyatt said:

“At the beginning of the year, we noticed that much of the creator economy’s attention was focused on ETH and Solana.”

“Therefore, we decided to go against the trend and focused on the untapped potential of web3 by onboarding large enterprise brands, DeFi platforms, and gaming companies.”

“We did this successfully through ecosystem fund investments and white-glove partnership support.”


Solana jumps double digits to reclaim $11

Solana Foundation details FTX, SBF financial ties as SOL struggles

Top Solana NFT projects DeGods and y00ts to leave the blockchain and ‘explore new opportunities’

Crypto payments between vendors and users are becoming a mainstream process and here’s why

Cryptocurrency is still in its infancy and the future is difficult to predict. However, in 2023, more and more people will use cryptocurrencies as a payment option. This is because more retailers accept cryptocurrency payments and more people are generally aware of cryptocurrencies.

 Accepting crypto payments is a straightforward process and will become even easier in the future. Employing crypto offers many benefits, including: B. Reduced transaction fees, increased privacy and security, and a global customer base.

The first step is to create an account with a cryptocurrency wallet provider. The second step is to set up your company on the provider’s website. The third step is to set up a cryptocurrency payment gateway on your website so that your customers can pay with their token of choice.

Did you know that the travel and hospitality industry is one of the most aggressive cryptocurrency payment adopters? Cryptocurrency acceptance has started around the world, and the many benefits it offers and the already amassed With a large user base, companies are starting to offer payment options to their users.

 If you’re reading about cryptocurrencies and trying to decide if you should invest in them, or if you’re lost and wondering how to get started, check out IBINEX. This is the crypto platform that is all the rage right now, and for all good reasons. Unlike many other platforms, IBINEX is simple and easy to use. It takes less than 5 minutes to set up your account without having to go through countless verification processes. It is a secure platform that allows you to make crypto payments and buy, sell or trade your tokens of choice directly using your credit card instead of going through various exchange platforms.

 It offers numerous facilities for business owners as well as users the lowest processing fees in the industry that are a win-win. The platform is highly recommended by users and seems like a great place to start your crypto journey.

DogeCoin manages better Black Friday than other coins

Image source: Crypto Stars

DogeCoin had an intense week on Black Friday as it outperformed Bitcoin and Ethereum in the crypto market.

Friday movement

On Friday, the revolutionary meme coin jumped 10.5% over a 24-hour period, as recorded by CoinGecko.

Despite the surge, it was far from DogeCoin’s all-time high in May 2021, when the coin hit 73 cents.

DogeCoin’s massive leap came when Elon Musk, an avid supporter of the meme coin, hosted Saturday Night Live.

The coin first started as a joke but became the Tesla owner’s digital asset of choice.

During Black Friday, DogeCoin became the best-performing major cryptocurrency in the market.

Read also: FTX struck with major debt to 50 creditors

Other coins

Bitcoin, the leading cryptocurrency, fell 0.5% on Friday, while Ethereum dropped to nearly 1%.

Meanwhile, the cryptocurrency market continues to reel after a brutal month.

Investors were disappointed to hear that FTX, one of the most prominent and promising cryptocurrency exchanges, has gone bankrupt.

As a result, almost every major coin and token went through a sell-off.

It is unknown how DogeCoin handled a better Black Friday rally, but the Crypto Twitter speculation has gone viral.

Writing about the future of blockchain, David Gokhshtein, an influencer, said:

“I feel that we’ll all see Vitalik and Elon working together to somehow upgrade $DOGE.”

The meme coin

DogeCoin was created in 2013 by engineers who jokingly paid tribute to the “doge” meme, a Shiba Inu dog who speaks broken English.

However, Elon Musk started pumping the coin on Twitter in 2020 (which he now owns), driving up its value.

From there, Musk and Mark Cuban, an influential investor, argued over the usefulness of paying with the coin.

Despite the rally, DogeCoin is still down 91% from its peak.

Read also: Blockchain industry set to flourish in the Middle East

Current movement

As of this writing, DogeCoin has a market capitalization of $12.7 million.

While it is down -11.4% in the last 24 hours, the coin is selling for $0.093136.


Dogecoin gets double-digit Black Friday pump