FreeCryptoCurrency.Me

Free stocks and money too!

Author: samwsimpson_lyjt8578

The Sandbox Instagram back online following hack

The Sandbox has regained control of its Instagram account following a hack in the early hours of Thursday morning, the company said in a blog post.

Hackers accessed the metaverse platform’s official account, which has 184,000 followers, and posted a phishing link. It is not yet clear how they were able to gain control of the account. It was promptly deactivated once the breach was discovered and is now back online.

The Sandbox told The Block that to their knowledge only one user was scammed and that they were working with him to “solve his situation.”

“The trust of our community is paramount for us and we are taking steps to further secure our social accounts. We are currently reviewing our security logs and internal processes to reinforce security across all of our platforms,” the company said.

The hackers’ wallet shows it holds four NFTs transferred from two wallets following the Instagram breach. Among them is one World of Women Galaxy NFT.

NFT phishing scams are common on social media. In April, the official Instagram of BAYC was attacked and hackers made off with $2.8 million in NFTs.

In other cases, hackers have approached holders via social media for private trades. After agreeing on a price, they convince their target to link their wallet to a scam trading site that then relieves them of its contents. In May, 29 Moonbirds worth $1.5 million were taken in this way.

Blue tick accounts are a particularly attractive  for hackers in the hopes that the appearance of being official will trick more people.

“This event serves as a reminder that we must never let our guard down. Because of our profile, hackers and phishers will constantly try to test us. However hard they try, we’ll work even harder to keep your accounts — and ours — secure,” said The Sandbox.

© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Go to Source
Author: Callan Quinn

Core Scientific mined 10.4% more bitcoin in July despite power cuts

Core Scientific self-mined 1,221 BTC in July — up by 10.4% compared with June, despite having to curtail power due to extreme temperatures in Texas.

Curtailment periods totaled 8,157 megawatt-hours in July. Earlier this week, rival Riot similarly reported that it had curtailed power by 11,717 megawatt-hours in July.

Core Scientific also sold 1,975 BTC in July, generating about $44 million at an average price of $22,000 per bitcoin. It said it used those funds to expand capacity at its sites and to help pay the 100,000 ASIC order it placed with Bitmain in 2021, according to a statement on Friday.

The mining firm had sold 7,202 bitcoin in June, which represented a large majority of its bitcoin reserves at that point.

“Core Scientific will continue to sell self-mined bitcoins to pay operating expenses, fund growth, retire debt and maintain liquidity,” the company said.

The company also reported that it deployed a net total of 6,000 new self-mining machines. At the end of the month, Core Scientific had 195,000 miners, with a total hash rate of 19.3 exahash per second (EH/s) — both in self-mining and hosting. Its self-mining hash rate was 10.9 EH/s. 

Last month, Core Scientific signed co-location agreements that will generate $50 million per month in revenue once the miners are deployed later this year.

© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Go to Source
Author: Catarina Moura

WazirX CEO’s project Shardeum is raising funds at a $200 million valuation

Shardeum, a blockchain scaling project co-founded by the CEO of Indian crypto exchange WazirX, is raising funds at a $200 million valuation in a private token sale, according to two sources with direct knowledge of the matter and a pitch document obtained by The Block.

The project is seeking to raise $18 million in the round, one of the sources said. A Shardeum spokesperson confirmed the ongoing $18 million funding round but declined to comment on the valuation.

Shardeum is a Layer 1 blockchain network currently in a testnet form that aims to offer low transaction fees. The project has onboarded “many” investors and partners, according to the pitch document.

WazirX founder and CEO Nischal Shetty unveiled the project in February of this year. At the time, he told The Block that Shardeum plans to raise funds from venture capital firms, but those investors won’t hold a large number of its native token shard (SHM). The supply of shard tokens is fixed at 508 million and it’s unclear how many are on offer in the private sale round. 

Shardeum is expected to launch in the fourth quarter of this year and the shard token’s public listing will follow after that, the pitch document shows.

Shardeum is Shetty’s second crypto venture after WazirX, which was acquired by Binance in 2019. Earlier today, India’s Directorate of Enforcement froze WazirX assets worth 647 million rupees (around $8 million) because it suspects the exchange of assisting instant loan apps to launder proceeds of crime. Shetty and a spokesperson for WazirX did not respond to questions about the frozen funds by press time. 

Sharding technology

Shardeum is using the sharding technique for its blockchain, which essentially helps increase block space for more transactions and reduces gas fees. Shetty said in the February interview that Shardeum aims to support a million transactions per second.

Several other blockchain projects, including Ethereum 2.0, NEAR and Zilliqa, are working on implementing or have implemented sharding techniques for their networks. But according to the pitch document, Shardeum’s dynamic compute and state sharding technique is “unique” — enabling linear scaling.

Since February, Shetty has shifted his focus towards Shardeum, frequently tweeting about the project to his nearly half a million Twitter followers. Shetty’s co-founder for Shardeum is Omar Syed, a former NASA engineer. He is also a creator of the Shardus technology on which the project is being built.

© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Go to Source
Author: Yogita Khatri

Nomad has recovered $22.4 million after hackers drained $190 million

According to data from Etherscan, $22.4 million of a $190 million hack has been returned to Nomad as its team has announced a reward.

The recovered amount is now more than double the $9 million that ethical hackers sent back to Nomad on Wednesday. More recovered funds followed Nomad’s offer of a 10% bounty on Thursday.

On 1 August, more than 300 addresses collectively took $190 million from Nomad’s cross-chain bridge, a tool that lets users move ERC-20 tokens among Ethereum, Moonbeam, Evmos and Avalanche.

The bridge had a critical vulnerability that became public and made it possible to drain funds. The vulnerability was introduced by Nomad developers during a smart-contract update.

The team announced on Thursday that it would pay the 10% reward to anyone who returned the tokens to a specific return address, and offered assurances that no legal action would be taken against those who did so.

Nomad said it is collaborating with law enforcement agencies to investigate the incident. It has also partnered with on-chain analytics firm TRM Labs to track the flow of funds across addresses involved in the exploit.

© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Go to Source
Author: Vishal Chawla

Binance-owned exchange WazirX’s bank balances frozen by Indian authorities

India’s Enforcement Directorate (ED), a law enforcement agency that investigates financial crimes, has frozen bank balances worth 647 million rupees (around $8 million) belonging to WazirX, a local crypto exchange owned by Binance.

ED conducted searches on WazirX co-founder and CTO Sameer Mhatre as part of its money laundering probe against the exchange, according to a statement on Friday. ED has been investigating WazirX since last year for its alleged money laundering role linked to Chinese loan apps that were involved in digital lending in India.

Since 2019, most Chinese companies were reportedly entering India for lending business by establishing fintech apps, but as the Reserve Bank of India (RBI) was not giving them a non-banking financial company (NBFC) license, they were making agreements with local NBFCs.

As a result, ED has lately been investigating a number of Indian NBFC companies and their fintech partners “for predatory lending practices in violation of the RBI guidelines and by using tele-callers who misuse personal data and use abusive language to extort high-interest rates from the loan takers,” the agency said in Friday’s announcement.

After the investigations began, many of these fintech apps shut down and diverted away “huge profits” through various routes, including crypto, according to ED.

“ED found that large amount of funds were diverted by the fintech companies to purchase crypto assets and then launder them abroad,” reads the announcement. “These companies and the virtual assets are untraceable at the moment.”

As part of its investigations, ED also issued summons to crypto exchanges and found out that “maximum amount of funds were diverted to WazirX exchange and the crypto-assets so purchased have been diverted to unknown foreign wallets.”

WazirX and Mhatre have been uncooperative in helping to trace those funds, according to ED. Mhatre has “complete remote access to the database of WazirX, but despite that he is not providing the details of the transactions relating to the crypto assets, purchased from the proceeds of crime of Instant Loan APP fraud,” ED said.

It went on to say that “the lax KYC [know your customer] norms, loose regulatory control of transactions between WazirX and Binance, non-recording of transactions on blockchains to save costs and non recording of the KYC of the opposite wallets has ensured that WazirX is not able to give any account for the missing crypto assets.”

WazirX has also made no efforts to trace crypto assets and Binance “rarely responds to queries on legal@binance.com,” according to ED.

WazirX and Binance did not respond to The Block’s requests for comment by press time.

© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Go to Source
Author: Yogita Khatri

How Solana is bridging the gap between Web3 and the physical world

Episode 72 of Season 4 of The Scoop was recorded remotely with The Block’s Frank Chaparro and Solana Labs Co-Founder and COO, Raj Gokal.

Listen below, and subscribe to The Scoop on AppleSpotifyGoogle PodcastsStitcher or wherever you listen to podcasts. Email feedback and revision requests to podcast@theblockcrypto.com.


Last week, Solana Spaces announced the opening of the “world’s first permanent physical retail, educational, and community space dedicated to Web3.”

Solana Spaces in NYC; source: prnewswire.com

In this episode of The Scoop, Solana Labs Co-Founder and COO Raj Gokal discusses his early impression of Solana Spaces, as well as the innovation and experimentation that is occurring across the Solana ecosystem at a “breakneck pace.”

As Gokal explains, some people who visit Solana Spaces’ first location in Manhattan are discovering that Web3 might not be as daunting as it seems:

“There’s hundreds of people coming through — just starting their first Phantom wallet, sending their first USDC, and learning, ‘okay, using crypto is like not that complicated.'”

In addition to the inroads Solana is making in the physical world, Solana is currently hosting a virtual hackathon called ‘Summer Camp’ — the largest Solana hackathon to date, according to Gokal: 

“The hackathon that’s going right now has almost 14,000 developers. This is the most participation from a hackathon that we’ve ever seen… and it’s now — in the depths of the bear market.”

Although the price of SOL has fallen approximately 85% since last November’s highs, the Solana Network has seen accelerated adoption over the same period, as data from The Block shows:

During this episode, Chaparro and Gokal also discuss:

  • Solana’s unique fee market
  • Crypto and digital health
  • The upcoming Solana phone

This episode is brought to you by our sponsors Chainalysis & IWC Schaffhausen

About Chainalysis
Chainalysis is the leading blockchain data platform. We provide data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 60 countries. Backed by Accel, Addition, Benchmark, Coatue, Paradigm, Ribbit, and other leading firms in venture capital, Chainalysis builds trust in blockchains to promote more financial freedom with less risk. For more information, visit www.chainalysis.com.

About IWC Schaffhausen
IWC Schaffhausen is a Swiss luxury watch manufacturer based in Schaffhausen, Switzerland. Known for its unique engineering approach to watchmaking, IWC combines the best of human craftsmanship and creativity with cutting-edge technology and processes. With collections like the Portugieser and the Pilot’s Watches, the brand covers the whole spectrum from elegant timepieces to sports watches. For more information, visit IWC.com

© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Go to Source
Author: Davis Quinton and Frank Chaparro

Router Protocol’s Voyager Crosses 300 Million in Transaction Volume

Record-breaking capital efficiency reveals TVL may not be the most prudent metric to evaluate the fidelity of a bridge  

Router Protocol, a modular cross-chain interoperability protocol connecting nine different blockchains, just crossed $300 million in cumulative transaction volume. 

Backed by ventures like Coinbase, QCP Capital, DeFi Capital, Shima Capital, and more, Router Protocol is expanding aggressively to build a chain agnostic Web 3.0 ecosystem by building a suite of cross-chain infrastructure primitives that aims to seamlessly provide bridging infrastructure between current and emerging Layer 1 and Layer 2 blockchain solutions. 

Since the launch of alpha mainnet in January this year, Router has integrated key blockchain networks into their cross-chain messaging mesh, viz., Ethereum, Polygon, BNB Chain, Fantom, Harmony, Cronos, Arbitrum, Optimism, and Avalanche.  

The CEO of Router Protocol, Ramani ‘Ram’ Ramachandran, says that the current landscape of cross-chain is reminiscent of the dot-com boom of 1995 to 2000, where the narrative was far ahead of the product build-up. Similarly, the conversations, developments, and innovations at Router Protocol are essentially building the foundation for empowering developers to build seamless cross-chain products with excellent user experiences a few years from now. 

Router has facilitated over $300 million in cross-chain swaps and transfers with just over $500k in bridge liquidity. The high level of capital efficiency shows that a large bridge TVL is not needed for the majority of the transactions on the bridge. Unlike AMMs or lending platforms, bridges do not offer better quotes with high TVL but instead act as a honeypot for hackers.  

Voyager:  

 This was the first B2C offering released by Router Protocol in January this year. Voyager is a cross-chain swap engine built on Router Protocol that supports cross-chain swaps and asset transfers.  

Moreover, Voyager is powered by Router Protocol’s proprietary PathFinder Algorithm that is integrated with 1inch API. The PathFinder Algorithm traverses multiple DEXes to find the fastest and most economical routes to execute cross-chain swaps and transfers. 90% of the transactions conducted on Voyager were completed within 90 seconds. The efficiency and scalability of Voyager catapulted Router Protocol to being categorised as one of the top performing dApps on Polygon on metrics like transaction volume and speed.  

Router Widget:  

Router Protocol has abstracted the bridge to provide a fully customisable white labelled solution in the form of an easily integratable widget. This would allow Web 3.0 projects to empower their users with the functionality of conducting cross-chain swaps/transfers without leaving their platform.  

With Router Widget, users can set up default networks on the bridge, customise the widget to match their UI, set biases for encouraging users to make favourable transactions, and most importantly make their dApp more inclusive to users with different native chains. It’s a low code solution for adding cross-chain functionalities to any dApp.  

Pathfinder API and JS SDK: 

Router Protocol has abstracted its proprietary PathFinder Algorithm into an AssetSwap API and JS SDK. The API and the SDK provide the entire asset-swap functionality of Voyager on any Web 3.0 platform with a simple integration. For e.g., just like MetaMask provides the capability of same chain swaps inside its interface, by integrating our SDK, any wallet provider can provide the functionality to perform cross-chain swaps inside their platform. It is a completely white labelled solution with its documentation available here. Some of its relevant use cases include: 

  • Capturing cross-chain arbitrage. 
  • Providing cross-chain swap as a service inside existing projects, particularly wallet providers, multi-chain DEXes, and other multi-chain applications. 
  • Customizing user flow for cross-chain swaps in existing cross-chain bridges that only have cross-chain transfers as a functionality. 

Unlike JS SDK, PathFinder API can be called via any environment that supports REST calls. Moreover, it supports all devices. However, if your application is a website built on React tech stack, we would recommend using JS SDK for a more seamless integration experience. 

CrossTalk Library:  

CrossTalk Library is a complete abstraction of Router Protocol’s cross-chain communication infrastructure. It is a plug and play framework that allows users to build cross-chain applications using the Router infrastructure. It primarily facilitates cross-chain communication amongst smart contracts, which helps developers to build native cross-chain dApps or port a single chain dApp to multiple chains. Here are some functionalities of the CrossTalk Library: 

  • Router Crosstalk allows seamless state transitions across multiple chains, akin to the Inter Blockchain Communication protocol (IBC) for Cosmos, which creates a network of independent chains that can communicate in a decentralized manner. 
  • Developers can build and deliver complex cross-chain applications by leveraging Router’s cross-chain communication engine. 
  • Another prominent feature of Router CrossTalk is its flexibility when it comes to fee management. It gives developers complete control over the gas limit and other fee parameters. It also allows for the fee to be paid in various tokens on the source chain itself. 

Integrations 

In the past couple of months, the diverse functionalities of this ecosystem suite have paved the way for multiple strategic partnerships for Router Protocol. Here is the roundup of the most notable ones: 

Annex Finance 

On July 14, 2022, Router Protocol announced partnership with with Annex Finance by enabling them to use Router’s AssetSwap API for providing Annex’s users the functionality of swapping tokens from BNB Chain to Cronos Chain.  

Trava Finance 

On July 18, Router Protocol announced the initiation of a three pronged partnership with Trava Finance and Dfyn. Trava Finance will integrate Router Widget, Dfyn will integrate Trava’s proprietary token health analytics in their DEX, and Voyager is now listing $TRAVA for cross-chain transfers and swaps.  

UniFarm 

On July 18, 2022, Router Protocol announced a collaboration with UniFarm where UniFarm will be using the CrossTalk library to build Setu: a dApp to transfer tokens between various blockchaIn networks. Moreover, UniFarm was also a recipient of Router Protocol’s grants initiative and will be using those resources to build Setu.  

Gods of Africa 

Router Protcol recently announced that Gods of Africa will be leveraging CrossTalk Library for creating cross-chain NFTs. 

Router Widget Integrations 

Web 3.0 projects like Titan, 7Pixels, Dfyn, Coreto, RetroDeFi have integrated Router Widget on their platform to provide cross-chain functionalities to their users.  

This post is commissioned by Router Protocol and does not serve as a testimonial or endorsement by The Block. This post is for informational purposes only and should not be relied upon as a basis for investment, tax, legal or other advice. You should conduct your own research and consult independent counsel and advisors on the matters discussed within this post. Past performance of any asset is not indicative of future results.

© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Go to Source
Author: Sponsored

NEAR Protocol discloses breach of email and SMS data tied to user wallets

NEAR Protocol, a Layer 1 blockchain, notified users that SMS and email data used as recovery options in its core wallet offering were leaked to a third party in June. In a new blog post, NEAR said the issue was resolved before any harm was done.

NEAR Protocol’s wallet offering at wallet.near.org allows users to add recovery options including email data or phone numbers to their crypto wallet accounts. A bug in the system accidentally exposed sensitive details to a third party.

NEAR said it was able to quickly address the situation by deleting access to the data from the third party or its own employees, preventing the breach from being a threat to funds security or privacy of users.

 “The wallet team immediately remediated the situation, scrubbed all sensitive data, and identified any personnel who could have had the ability to access this data,” the team said. 

The bug was reported on June 6 by an ethical hacking team called Hacxyk, which was paid a bounty. Still, the NEAR Protocol team had not shared the information until now. 

Hacxyk told The Block that the third party was Mixpanel, an analytics service, and compared the incident to an ongoing Slope Wallet issue in which details were accidentally transmitted to a centralized server. Hacxyk added that private keys may have been compromised as well.

“We believe the nature is very similar to the recent Slope wallet hack on Solana. In short, the seed phrases were unknowingly leaked to the third party Mixpanel, an analytics service, when users chose email/sms as the seed phrase recovery method. This means users’ seed phrases are stored into Mixpanel’s server,” Hacxyk said.

As a security measure, the NEAR Protocol said it no longer allows users to create accounts using email or SMS for account recovery. It also advised users who had previously used email or SMS recovery options with their NEAR wallet to “rotate their keys” or add a hardware wallet, such as Ledger. 

Per Hacxyk, the wallet account model for NEAR wallets is slightly different from Ethereum. A crypto account can have multiple keysets with different permissions. By rotating private keys, NEAR is telling users to revoke the potentially leaked keysets, and add fresh ones to replace them.

A NEAR Protocol co-founder did not immediately respond to The Block’s request for comment.

© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Go to Source
Author: Vishal Chawla

Life for rent: How a new NFT token standard could create the next generation of landlords

In late-June, a new Ethereum token standard called ERC-4907 reached the final stages of development; one which will allow the user to loan out their non-fungible token (NFT).

ERC-4907 adds a new role in the NFT standard, splitting who is the owner and who is the user of an NFT – making “renting” possible. The renter can use the NFT until the loan period expires, automatically sending the NFT back to its owner. 

“Before the ERC-4907, every time you transferred the NFT, you lost your ownership,” says Lareina, growth lead for Double Protocol, a startup building out rentable NFT infrastructure and the developer of the new token standard. But by splitting up ownership and usage rights, it’s now possible for NFTs to be  loaned out and rented in permissionless ways. 

To be sure, rentable NFTs are not yet officially available. Reaching “final” status means that the Ethereum proposal, or project aiming to improve the Ethereum blockchain, can no longer be updated. Other builders can now incorporate that proposal into smart contracts without fear of the developers later changing it.

Once built into smart contracts, rentable NFTs have the potential to disrupt blockchain gaming, metaverse land sales, blockchain-based media platforms and more. 

How to make a rentable NFT

Most of the NFTs with the highest profiles, such as Bored Ape Yacht Club, CryptoPunks and Azuki, were either minted or wrapped in the ERC-721 token standard, which represents ownership of a digital or physical asset that is verified on the Ethereum blockchain. 

These token standards necessitate that the owner of the NFT may use that digital asset. In order to use, say, Axie #5 in the play-to-earn game Axie Infinity, you must have that NFT in your wallet. To have the NFT in your wallet, you must have either minted that Axie or purchased it on a secondary market. 

In other words, purchasing that Axie precedes your ability to use it — as it would for other NFTs minted under ERC-721. 

NFTs minted under ERC-4907 token standard split ownership and usage rights with a digital asset. The ERC-4907 token standard can be wrapped around existing NFTs minted under ERC-721 or other Ethereum standards, allowing the wrapped NFT to be read by the smart contracts of rentable NFT marketplaces, and be loaned or rented as if it were originally minted under the ERC-4907 standard. 

In addition, the owner can set time parameters for which an individual may use their rented NFT. When that time ends, the user can no longer use that NFT, and the rented NFT reverts back in the hands of the original owner — without the owner having to manually ask for their asset back. 

Where rentable NFTs can go

Sharing the usage rights of an NFT is not new. Gaming guilds purchase NFTs that are prohibitively expensive for most players and loan them out in exchange for a portion of the player’s profits. Such guilds, like Yield Guild Games (YGG), emerged in the late summer and early fall last year for Axie Infinity, when the game’s popularity was at its height. 

“When the owner assigns [their NFT’s] rights to the guild, it’s very risky,” Double Protocol builder, who goes by Shrug Newton, told The Block in an interview. “You have to trust the guild. If the guild disappears, then you lose your assets.” 

However, ERC-4907 allows users to create a sort of do-it-yourself guild out of valuable NFTs that they already own, in which loaners can charge a rental fee and users can keep profits earned from gaming. And they can do it in a trustless and permissionless way by leveraging Ethereum smart contracts, Lareina says. 

While this may seem like a threat to guild business models, Double Protocol considers blockchain-based gaming guilds to be market makers — entities that buy and sell securities and often provide liquidity — for rentable NFTs. And established guild organizations such as YGG can leverage ERC-4907 make their guilds more decentralized. 

Lareina adds that Double Protocol considers gaming guilds as big stakeholders in the rentable NFT marketplace and thus wants to cater to them. This could include creating tools where guild organizations can create new guilds through one click of a button, as well as ways to control how gaming earnings are split between the loaner and renter. 

Aside from gaming, rentable NFTs can also augment metaverse land usage. Lareina notes that metaverse land owners can rent out their property for events. And should an investor have purchased a metaverse land parcel but lack the capacity to build on top of it, they can rent out that land to another party to build it out and earn revenue through rent, protecting any other property they own by removing it during the rental period and adding it back when the rental period is over.

This technology can also facilitate web3-based library loans or free trials of a product, Lareina adds, as well as other areas.

In all, rentable NFTs unlock a new marketplace of usage rights of NFTs now that they’ve been decoupled from ownership, Lareina said. “We are building our product on top of this philosophy.”

© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Go to Source
Author: MK Manoylov

Lawmakers send letter to 20 crypto firms soliciting diversity data

A coalition of US Representatives led by House Financial Services Committee Chairwoman Maxine Waters, D-Calif., is asking the nation’s most prominent crypto firms to deliver data on their diversity practices.

Waters, along with Reps. Joyce Beatty, D-Ohio, Al Green, D-Texas,  Bill Foster, D-Ill.,, and Stephen Lynch, D-Mass., sent a letter to 20 crypto firms, urging them to provide more information on their inclusion practices. The data will give the lawmakers a “snapshot” of “how and whether the industry is working toward a more equitable environment for everyone.”

The letter to the companies includes a questionnaire on what diversity and inclusion practices they had in effect as of last year. The questionnaire was not made publicly available, however.

“There is a concerning lack of publicly available data to effectively evaluate the diversity among America’s largest digital assets companies, and the investment companies with significant
investments in these companies,” the letter said.

Lawmakers are asking “the nation’s 20 largest crypto, Web3, and digital assets companies, as well as prominent venture capital firms with investments in crypto” to provide that data. Aave, Andreessen Horowitz, Binance.US, Circle, Coinbase, Crypto.com, Digital Currency Group, FTX, Gemini, Haun Ventures, Kraken, OpenSea, PancakeSwap, Paradigm, Paxos, Ripple, Sequoia Capital, Stellar Development Foundation, Tether and UniSwap round out the list of recipients. 

The letter gives firms less than a month to respond to the survey, setting a September 2 deadline. 

© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Go to Source
Author: Aislinn Keely


Follow by Email
Facebook20
Pinterest20
fb-share-icon
LinkedIn20
Share