Cryptocurrency exchange Huobi has announced that it will discontinue its Huobi Cloud Wallet platform in May 2023 citing ‘strategic and product adjustments’. As per an announcement on Huobi’s support page, maintenance and upgrades of the multi-token wallet service will officially stop on Feb. 13. Users that are still using the Cloud Wallet are being encouraged to transfer cryptocurrency and nonfungible tokens (NFTs) to their main Huobi accounts or other wallet addresses. Huobi Cloud Wallet’s withdrawal and transfer functions will work for the next three months, while users are cautioned not to transfer digital assets to their Cloud Wallet. Huobi Cloud …

A crackdown by the United States securities regulator on crypto staking could have unintended consequences for decentralized finance (DeFi), according to the head of business development at Lido DAO. In a Feb. 13 Bloomberg report Jacob Blish, who leads business development at Lido's decentralized autonomous organization (DAO), said the most significant risk would be if the SEC eventually concluded that no U.S. citizen can interact with crypto staking services, including protocols. "The biggest risk I personally see as a U.S.-based person is if they come down and say you can no longer even interact with or contribute to these types …

Decentralized finance (DeFi) was established to transform financial services so that anyone, no matter where they live or their status, can enjoy the benefits of financial sovereignty. However, before it can achieve its mission, it must first tackle the complexity, that deters millions of potential newcomers from using DeFi protocols. One critical problem is the poor user experience and complicated interfaces that plague onboarding and make services inaccessible to a mainstream audience. Onboarding and usability are key areas that hinder mass adoption. Even without the KYC (Know-Your-Customer) requirements, DeFi’s multi-step onboarding process puts services out of reach of most people. …

Decentralized exchanges (DEXs) have become increasingly popular in recent years due to their ability to offer users a high degree of control over their assets and a more secure trading environment than centralized exchanges. However, one major limitation of DEXs is their inability to support cross-chain and margin trading. There are multiple decentralized exchange protocols that aim to overcome this limitation by enabling DEXs to support cross-chain trading, margin trading and other features. Injective Protocol is a decentralized exchange protocol built on Cosmos, a decentralized and interoperable blockchain ecosystem. Injective Protocol enables DEXs to support cross-chain trading and margin trading, …

A career in the metaverse involves developing and designing virtual environments and experiences within a virtual world. Creating virtual characters, objects and interactive experiences is one example of this. There are job prospects in software development, content creation and project management in this expanding profession, which includes disciplines, such as game design, 3D modeling, virtual reality (VR) and artificial intelligence. Related: How to learn Web3 development for beginners Building a career in the metaverse requires a combination of technical, creative and business skills. Below are some of the key skills needed to succeed in this field. Skills required to build …

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. In the aftermath of a deadly 7.8-magnitude earthquake in southeastern Turkey, the Web3 community has come together to raise awareness and aid for disaster victims. Stablecoins could prove to be a critical factor in larger DeFi adoption, says Aave founder Stani Kulechov. According to the Aave executive, building the “payment layer,” which involves stablecoins, can potentially hook regular people into the space, eventually introducing them into DeFi. On the other hand, S&P Global Ratings …

In the latest episode of NFT Steez, Thomas Webb, the founder of the interoperable avatar game Worldwide Webb, discusses the integration of interoperability in Web3 and the Metaverse. By definition, interoperability is a feature of Web3 whereby a product or system can work seamlessly across platforms with other products or services. Webb defines interoperability simply as "creating a token— a nonfungible token (NFT)" since, at its most basic level, no one can control it besides the creator. But how does interoperability function presently in Web3, and what is its potential impact? Executing interoperability the "right" way When discussing how interoperable …

The sudden collapse of what was once the second-largest crypto exchange in the world has accelerated the migration from centralized exchanges (CEXs) to decentralized exchanges (DEXs). The now-bankrupt FTX still owes the equivalent of billions of dollars to users across the globe, and this is not the only instance of traders losing their funds with CEXs. The benefits of self-custody wallets and the use of decentralized finance (DeFi) applications have become more evident. However, once retail traders set foot in DeFi, they may be perplexed by the complexity of decentralized applications and the wide range of options, which adds to …

Local Russian media outlets reported on Monday that Bitzlato co-founder Anton Shkurenko was detained in Moscow on Feb. 6 at the request of Interpol. However, according to a Feb. 10 report from CoinDesk, Shkurenko was stopped and detained by the local police for an ID check, then promptly let go after a conversation. Shkurenko said he is not involved in any criminal cases in Russia. He reportedly commented, while not disclosing details of the investigation: “I hope I convinced the prosecutor of my innocence.” He did not specify the sector of law enforcement that detained him, though he mentioned he …

As the world moves toward a more digital future, the concept of Web3 and its potential to revolutionize the internet has become a hot topic in the tech industry. In this interview, SafePal CEO Veronica Wong, shares her insights on the future of Web3 and the current state of the crypto market. She also talks about her thoughts on the challenges and opportunities in the crypto security space and how SafePal is positioning itself to meet these challenges head-on. Q: In 2022 the crypto space saw some significant turbulence and the crash of several big platforms. What do users need …

According to data from DeFiLlama, Ethereum staking service Rocket Pool reached $1 billion in total value locked (TVL) on Feb. 9. The move comes less than two years after the decentralized finance (DeFi) launched its mainnet on Nov. 9, 2021. Dubbed a liquid staking solution for Ethereum (ETH), Rocket Pool allows users to join an Ethereum decentralized node operator or run their own node. Unlike conventional staking solutions, the capital requirements are far less as users can run their own node with just 16 ETH as opposed to the network specified 32 ETH, with another 16 ETH coming from a …

In this week’s episode of Market Talks, Cointelegraph welcomes Average Joe’s Crypto, a research analyst and writer. He authors his own blog, which focuses on all things crypto, Web3 and decentralized finance (DeFi). Without wasting any time, we jump straight into why artificial intelligence (AI) tokens have been going parabolic recently. Why have tokens that use artificial intelligence in some way been having their moment in the sun, and is this a trend that will continue into the future or is it just a passing fad? There have recently been a number of memecoins that have been moving upw, too. …