Anatoly Yakovenko, the founder and CEO of Solana Labs has downplayed claims that Solana's network outages were being caused by a high volume of validator messages and its on-chain voting system clogging its consensus layer. While the Solana Foundation confirmed in a Feb. 27 post that the “root cause” of the recent 20-hour network outage is still not clear, the CEO responded to speculation that Solana’s decision to include on-chain votes as transactions is a “massive design flaw” that has led to its many outages. The controversial thread in question was posted by Twitter user DBCryptoX earlier on Feb. 27 …

Despite a broader downturn in related markets, multinational corporations don’t appear to have slowed down on their trademark applications covering Web3, crypto, nonfungible tokens (NFTs), and the Metaverse. The month of February — now drawing to a close — saw the likes of General Motors and Lacoste, and Walmart making their territory with Web3-related trademark applications. January was an even busier month. One of the latest NFT-related filings involved automotive giant General Motors, which filed for two new trademark applications on Feb. 16 covering its Chevrolet and Cadillac brands. According to the filing, the firm is interested in downloadable digital …

A whopping 80% of American adults believe the financial system favors those with “powerful interests,” while 20% currently own cryptocurrency — a new survey has revealed. Commissioned by crypto exchange Coinbase, the February online survey of more than 2,000 American adults found that 80% of respondents said the “global financial system unfairly favors powerful interests,” while 67% have called for “major changes” or a “complete overhaul” of the financial system. The survey was conducted by business intelligence firm Morning Consult and was aimed at examining the perception of the global financial system and how United States adults and crypto investors …

Cryptocurrency venture capital conglomerate Digital Currency Group (DCG) has reported losses of over $1 billion in 2022 due largely to the contagion relating tocollapse of crypto hedge fund, Three Arrows Capital (3AC). DCG reportedly lost $1.1 billion last year, according to its Q4 2022 investor report, and said the results “reflect the impact of the Three Arrow Capital default upon Genesis” along with the “negative impact” from falling crypto prices. Genesis is the lending arm of DCG, the firm filed for Chapter 11 bankruptcy in late January. Genesis is 3AC’s largest creditor as the company loaned the now-bankrupt hedge fund …

Robinhood Markets has confirmed that it had received an investigative subpoena from the United States Securities Exchange Commission (SEC) over its digital asset business' crypto listings, custody and platform operations. In a 10-K filing, the brokerage said it received the investigative subpoena in December shortly after crypto exchange FTX filed for bankruptcy in November, and after "several other major cryptocurrency trading venues and lending platforms earlier in 2022," including Three Arrows Capital, Voyager Digital Holdings and Celsius Network. The investigative subpoena was in relation to its cryptocurrency listings and custody services, which they said came in response to the crypto …

Blockchain Founders Fund, a venture capital fund supporting the adoption of Web3 and blockchain technology, has announced the close of a $75 million fundraising round from companies such as Polygon, Ripple, Octava, NEO Global Capital, Appworks, GSR, LD Capital, Metavest Capital and others, such as Sebastien Borget, chief operating officer of The Sandbox. According to the announcement, the fund will focus on supporting high-potential early-stage pre-seed and seed projects that encourage the mass adoption of Web3 and blockchain technology. The fund has already invested in over 100 startups, including Altered State Machine, Splinterlands, GRID, Krayon and Magna. In an interview …

Coinbase will suspend trading for Binance USD (BUSD) stablecoin on March 13, the exchange announced Feb. 27 on Twitter. The message mentioned “listing standards” as it announced its decision. The decision will apply to Coinbase.com (simple and advanced), Coinbase Pro, Coinbase Exchange, and Coinbase Prime, according to the tweet thread. The exchange added, "Your BUSD funds will remain accessible to you, and you will continue to have the ability to withdraw your funds at any time." A Coinbase spokesperson told Cointelegraph: “Our determination to suspend trading for BUSD is based on our own internal monitoring and review processes. When reviewing …

While electricity is an integral part of our daily lives, some modern technologies do not require electricity to function. These technologies rely on other energy sources, such as mechanical energy, solar energy, or kinetic energy, to operate. In this article, learn how seven modern technology examples work without electricity. Solar-powered calculators One typical instance of technology that does not require electricity is solar-powered calculators. These calculators are run on solar cells, which transform sunshine into electricity. The calculator can be powered in low light thanks to the solar cells, which are typically integrated into the calculator’s display. Calculators powered by …

Binance branded stablecoin, Binance USD (BUSD), is a dollar-backed stablecoin issued by blockchain infrastructure platform Paxos Trust Company, and is the third largest stablecoin after Tether’s (USDT) and Circle’s USD Coin (USDC). Paxos has claimed in the past that BUSD is fully backed by reserves held in either fiat cash or United States Treasury bills. BUSD was reportedly authorized and regulated by the New York State Department of Financial Services (NYDFS). Paxos partnered with crypto exchange Binance in 2019 and launched the stablecoin, which received approval from the NYDFS. Binance CEO Changpeng Zhao has stated that the exchange licensed the …

As the Solana network suffered another setback, crypto community members went on social media to express various concerns, even comparing the blockchain to other projects like Ethereum and Bitcoin. On Feb. 25, the Solana network faced performance degradation issues, resulting in transaction disruptions, leading validators to opt for a network restart. Seemingly tired of the same old story, members of the community expressed themselves on Twitter, with some even questioning Solana’s (SOL) rank as a top cryptocurrency. Amid the network issues, nonfungible token (NFT) artist Crypto Tea raised a question on how the Solana blockchain made it to the top …

Alchemy Pay has obtained a license from the central bank of Indonesia to operate remittances and fund transfers in cooperation with the local fintech Berkah Digital Pembayaran. Announcing the news on Feb. 27, Alchemy Pay noted that the Bank of Indonesia issued the licenses jointly to Alchemy Pay and Berkah Digital’s platform BDPay, enabling the firms to offer better payout methods and reduce associated operating costs. Fiat-to-crypto payment provider Alchemy Pay is expanding services in Asia by scoring new major regulatory approval in Indonesia. Exciting news! #AlchemyPay and @mybdpay have jointly received license from the Central Bank of Indonesia to …

Yuzo Kano, the co-founder of Japan-based cryptocurrency exchange bitFlyer, is seeking to reinstate himself as CEO in a shareholders meeting next month, in an apparent bid to reinvigorate what he claims is a stagnating firm. Kano resigned in 2019 following a series of management disputes but is now determined to reinvigorate the crypto firm and lead it toward an Initial Public Offering (IPO) in the coming months, according to a Feb. 26 report by Bloomberg. The former CEO also said he also wants to put Japan back on the map in the world of cryptocurrency. “I will make it capable …