The Block
Quick Take: Frax Finance mulls over reversing the 2022 decision to turn off revenue sharing rewards for veFXS stakers. The move, which would go live within 10 days, is inspired by Uniswap’s proposal to reward UNI stakers.
Quick Take Yuga Labs announced it will stop working with NFT marketplaces that “don’t support royalties for all creators.” The company’s move does not include its Bored Ape Yacht Club and Mutant Ape Yacht Club brands, the two collections that account for the vast majority of Yuga Labs’ royalties and trading volume.
Quick Take Texas District Judge Alan Albright issued a temporary restraining order on Friday after the Texas Blockchain Council and bitcoin mining company Riot Platforms sued the Department of Energy last week calling the survey a product of “sloppy government process.” A statistical arm of the Department of Energy announced earlier this month that it planned to collect information from crypto mining firms following concerns over the effect mining operations could have on the U.S. electric power industry.
CoinShares said that the massive spike in daily trading volume for VanEck’s spot bitcoin ETF could have been a result of high-frequency trading.In total, since they began trading last month, spot bitcoin ETFs have reported nearly $52 billion in cumulative trading volume while registering net inflows of $5.8 billion.
January’s hot U.S. inflation data is churning macroeconomic waters, posing significant challenges for bitcoin in the year ahead, according to an analyst.The price of bitcoin is now trading above the $51,000 mark, according to The Block’s Price Page.
Quick Take Avail has raised $27 million in seed funding co-led by Founders Fund and Dragonfly. Avail is a modular blockchain project that spun out of Polygon last year.
Quick Take The FSB will deliver reports on “the financial stability implications of the tokenisation of assets and of AI.” Its letter comes ahead of a G20 meeting later this week.
Quick Take BitForex has reportedly stopped processing withdrawals after $57 million was seemingly transferred out of the exchange’s hot wallets. Its website is no longer accessible.
Digital-asset investment products witnessed their fourth consecutive week of inflows, adding $598 million last week.Year-to-date inflows now exceed $5.7 billion, dominated by the new U.S. spot Bitcoin ETFs.
Quick Take Jae Kwon, co-founder of Cosmos, is launching a new blockchain network, GovGen, focused on governance. GovGen, led by Kwon’s company All in Bits, is set to launch on Tuesday at 9 am ET. The network will decide on the design of AtomOne, a proposed fork of the Cosmos Hub, through decentralized decision-making.
