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India’s central bank is advocating for legislation that will allow users of its retail central bank digital currency (CBDC) to delete any transactions in order to maintain anonymity.

A newly passed improvement proposal will add native support for representing staking buckets as NFTs on the IoTeX blockchain.

Social platform OP3N raised $28 million in a Series A funding round led by Animoca Brands, according to a report from TechCrunch.

The fundraising efforts bring the startup’s valuation to $100 million, the report said. Other investors that participated in the round include Dragonfly Capital, Galaxy Digital,  Republic Crypto and New Enterprise Associates’ Connect Ventures.

Op3n‘s founder Jaeson Ma described the social platform as “web3 WeChat” in an interview with The Block last year. It’s user interface is similar to TikTok and it aims to make it easier for creators to use web3 technology to interact with fans. It’s core product is SuperApp, a chat-based app.

The singer Grimes secured funding, as part of a $100 million creator fund known as the Culture Catalyst initiative, to create an “intergalactic childrens’ metaverse book” on the platform.

The startup, founded in 2021, previously raised $10 million in a seed round led by Galaxy Interactive and BRV Capital Management. Ma was previously the co-founder of 88rising, a music label that helped Asian artists cross over to the US. 

The funds will be used to further develop the application and grow the leadership, said Ma in an interview with TechCrunch.

 

© 2023 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.

The latest price moves in bitcoin (BTC) and crypto markets in context for March 21, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.

Tal Broda, who joined Paradigm a year ago from Citadel Securities, said he would pursue opportunities closer to his prior experience.

British banks have said they keep people away from crypto for their customers’ own protection

Bitfarms is shooting for 6 exahash per second of computing power by the end of 2023, the same goal it had set and missed for 2022.

The eurozone supervisor is seeking to smooth out a process dominated by German and Luxembourgish banks.

More than $1 billion of ether has been lost forever due to bugs and human error, according to research by Conor Grogan, director of product strategy and business operations at Coinbase. 

“I’ve categorized thousands of instances of Ethereum typos, user errors and buggy contracts,” Grogan said on Twitter on Monday. He noted that he’d cataloged 636,000 ETH ($1.15 billion) that is lost, representing 0.5% of the coin’s circulating supply.

Roughly half that total — some 306,000 ETH — is due to a 2017 bug in the Parity crypto wallet. Defunct crypto exchange Quadriga lost 60,000 ETH to a contract fault and the Akutars NFT collection lost 11,500 ETH in a failed Mint. On top of those, Ethereum users have cumulatively sent 24,000 ETH to a burn address, where the coins can no longer be accessed.

In most of these cases, the ether wasn’t worth anywhere as near as much in dollars at the time of the loss.

Grogan added that his estimate, if anything, is an understatement. “This $1.1B+ number significantly undershoots the actual lost/inaccessible ETH amount — It just covers instances where Ethereum is locked forever,” he said.

This is because access to many wallets will have been lost but there’s no way of knowing which ones by looking at blockchain data alone.

© 2023 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.

Over $8 million worth of tokens has been bridged to the network in the past week alone in the anticipation of an airdrop, one that’s not yet been confirmed.