Crypto News

Greek Artist Sends Pro-Freedom Message with Assange NFT Drop

Esteemed artist Miltos Manetas will tokenise 50% of his Julian Assange portraits, with the goal of raising awareness for the imprisoned activist. To further cement the blockchain connection, proceeds of the NFT drop will enter a DAO that forms part of the Venice Biennale Festival’s Internet Pavilion, a tech tent founded by Manetas in 2009. Named This Cannot Be Erased, the special collection of 111 NFTs will grant buyers access to one-of-one digital versions of hand-painted portraits created by Manetas over the last two years. The collection will be divided into three phases during which 37 tokens are to be minted on the Materia blockchain, starting June 23. This year’s Venice Biennale, now in its 59th year, runs from April 23 to November 27. While the majority of tents at the festival are reserved for countries, the Internet Pavilion is dedicated to Assange under the theme “AIIA – Assange is Internet Internet is Assange.” Manetas Aims to Leverage #AssangePower This Cannot Be Erased was produced by Manetas with support from long-time collaborator Howie B, a British composer who scored the original Internet Pavilion event thirteen years ago. Back then, Manetas and curator Jan Aman stirred controversy by inviting a number of people involved with activist website The Pirate Bay to Venice to inaugurate the Embassy of Piracy. The latest collection develops Manetas’ interest in freedom in the internet age, with the artist having continually voiced his support for a man he regards as a close friend. The painter, whose digital works have previously appeared on VR platform Second Life, likens the silencing of the WikiLeaks founder to governments attempts to crush dissent on the World Wide Web, leading to the aforementioned theme for this year’s Internet Pavilion: Assange is Internet Internet is Assange. The 111 NFTs in the collection are curated digital versions of the Assange portraits the artist created as part of the #AssangePower social media campaign. That blitz led Manetas to showcase his creations at Rome’s Palazzo delle Esposizioni and later Belgium’s IKOB Museum with an exhibition entitled Assange Situation – Emergency. This year, the location of the Internet Pavilion is the vast, prison-like domain of The Gervasuti Foundation, which Manetas considers an appropriate setting given Assange’s ongoing incarceration. The Foundation is located at the north end of Via Garibaldi, on the site of the Gervasuti family artisan wood workshop. Holders of This Cannot Be Erased will not only own a piece of art history; they’ll also become Trustees of AIIA, with the NFT designated a “currency” of a new internet “country” unbound by borders or barriers. As mentioned, money raised from the sale will go into the Internet Pavilion DAO, meaning art collectors can help decide which art projects the Pavilion funds in the future. Assange in Limbo Miltos Manetas has said that his goal is to raise awareness of Assange’s treatment, believing that he has been unjustly demonised for his whistleblowing activities. This view is echoed by human rights organisation Amnesty International, which calls the UK’s decision to extradite Assange to the US a “travesty of justice.” NFT that make up the new collection last for a minute, during which time the holder sees the face of Assange, fracturing before rapidly coming back together, never to erase. Each artwork is accompanied by a musical theme composed by Howie B. Assange is currently appealing the UK government’s extradition ruling. If the appeal fails, the activist could face a 175-year prison sentence if convicted in a US court.  

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BlockFi Clears Up Rumors, Crypto Exchange FTX Will Have $240 Million Purchase Option

Crypto lending platform BlockFi addressed the rumors of a potential purchase from major crypto exchange platform FTX. Initially reported by U.S. news outlet CNBC, the company was allegedly being bought by FTX at a $25 million valuation, a 99% discount from its nearly $5 billion 2021 valuation. Related Reading | Colombia Launches National Land Registry on […]

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Mark Cuban Claims Bear Market Will End After Crypto-Apps Become Handy

The declining crypto market has raised lots of concerns among investors. Through several analyses, this prevailing price fall seems to be the worst in history. The crisis keeps raging with numerous losses recorded and more panic sell-off from traders. As a result, many people present ideas that could yield solutions to the situation. One of the trending reports is the statement of billionaire entrepreneur Mark Cuban concerning the bear market. Cuban, popularly known as the top investor in Shark Tank, a reality TV show, believes in the role of applications. He mentioned that proper focus on applications with utility is the solution. Related Reading | Extreme Fear Remains: Recapping What’s Behind The Crypto Market Panic The billionaire is convinced that applications with utility would create a turnaround in the prevailing market stance. Currently, most of the applications are geared toward collectibles and financial technology. But in Cuban’s opinion, the market needs a different spark that business-focused apps could bring. Cuban cited an instance with the decentralized brand of QuickBooks. According to him, such an accounting management software that is business based created a difference. Hence, he argued that a similar projection in the crypto market would lift the bearish trend. The Bankless Podcast episode on June 23 featured Cuban. While answering the question on the lasting period for the crypto bear market, the billionaire stated it would continue till the emergence of a catalyst. According to Cuban, that catalyst has to be an application; otherwise, prices would get even lower. In his past statement, Cuban had kept up to 80% of his non-Shark Tank funds in cryptocurrency. Cuban Said Crypto Market Is Still Not Cheap In Cuban’s opinion, the crypto market is yet to reach its low price. This contradicts most of the predictions for BTC and other crypto tokens. Many analysts have already concluded that digital assets have reached the bottom line. Cuban x-rays the high market cap for most crypto protocols while stating they are still not cheap. To him, having market caps worth billions of dollars is not cheap. He mentioned that during DeFi Summer, most protocols recorded market caps within the cycles of hundreds of millions of dollars. Related Reading | Mining Operators Fret As Bitcoin Looses Ground, What Lies Ahead For The Mining Community Also, their token prices were just around a few pennies. But he still complained about the lack of utility even with low market caps. In further explanation, Cuban anticipates a robust crypto industry through mergers of blockchains and protocols. To him, it’s a great consolidating move that could occur in any industry. When it comes to making a choice based on his optimism in different tokens, Cuban went for carbon offset DeFi tokens. According to him, it’s a measure to offset his carbon footprint when he burns them. Featured image from BBC, chart from TradingView.com

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3AC Hires Legal And Financial Advisers To Help Avert A “Bankruptcy” Situation

3AC Hires Legal And Financial Advisers To Help Avert A Bankruptcy Situation

Beleaguered Singapore-based cryptocurrency hedge fund Three Arrows Capital “3AC” has reportedly hired external financial and legal advisers to help work out a solution for its users and lenders, even as the firm battles impending bankruptcy. The move comes after 3AC failed to meet margin calls last weekend, the Wall Street Journal reported Friday. Apart from […]