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Blend Has Taken 82% of NFT Lending Market Share: DappRadar
Non-fungible token (NFT) marketplace Blur's lending platform Blend has captured about $308 million in trading volume in just 22 days since its launch, seizing 82% of total NFT lending market share, according to a report from blockchain data aggregator DappRadar. DappRadar Web3 analyst Sara Gherghelas discusses the report's key takeaways and the state of the digital collectibles market.
Glassnode Data Reveals Ether Held in Exchanges at Lowest Since July 2016
Data from Glassnode shows that 14.85% of all ether was held in wallets owned by centralized exchanges as of Thursday, the lowest level the market has seen since the summer of 2016. Typically, low exchange balances are a bullish sign, indicating that the supply of ether available for purchase is limited, thus putting pressure on prices to increase. CoinDesk's Jenn Sanasie presents "The Chart of the Day."
Exploring Crypto's Relationship With Economic News
Crypto markets reacted tepidly to solid economic data, a potential sign that good-economic-news-equals-bad-news for digital asset prices narrative is beginning to shift. "The Hash" panel discusses the changing narrative around bitcoin’s connection to economic growth and the implications for global finance.
Ether Balance on Exchanges Nears All-Time Low: Glassnode
The number of ether (ETH) on exchanges has hit a low not seen since July 2016 as staking saps up available ether. Data from Glassnode shows that as of Thursday, 14.85% of all ether was held in wallets owned by centralized exchanges. "The Hash" panel discusses their outlook for the Ethereum network, also citing the continued impact of the historic Shapella upgrade.
Lawyer Behind FTX Lawsuit Weighs in on Celebrity Endorsements
A lawyer says basketball legend Shaquille O'Neal has finally been served in a case involving FTX and the celebrities who appeared in their ads. Adam Moskowitz, Managing Partner at The Moskowitz Law Firm, who is also the lawyer representing some FTX investors in the proposed class action lawsuit against the bankrupt crypto exchange, discusses the case and the state of celebrity endorsements in the crypto space. CoinDesk reached out for comment to Shaquille O'Neal and Kaseya Center but did not hear back.
There Are Details About Terraform Labs Still Unknown: Former Paxos Exec
Terraform Labs co-founder Do Kwon will remain in detention while he faces charges of falsifying official documents in Montenegro after a request for bail was approved and later revoked. This comes as Terraform Labs co-founder Daniel Shin’s trial was postponed in South Korea. Columbia Business School adjunct professor and former Paxos head of portfolio management Austin Campbell shares his expectations about the details that could come to light amid the legal proceedings.
DCG Shutters Tradeblock, Citing Crypto Winter and Regulatory Uncertainty
Digital Currency Group (DCG), the parent company of CoinDesk, is sunseting its trade execution and prime brokerage services unit, TradeBlock. This comes as the crypto conglomerate reported a loss of $1.1 billion in 2022 as it suffered the effects of the crypto bear market. Gerber Kawasaki Director of Get Invested Brett Sifling reacts to the news, saying "it's never nice to see less competition in the space."
DeFi Is Most 'Vulnerable' to Crypto Hacks: TRM Labs
A recent TRM Labs report show crypto hacks are down 70% in Q1 2023, coming off of a record year of crypto funds stolen in 2022. TRM Labs head of legal and government affairs Ari Redbord points out the most vulnerable parts of the crypto industry, noting that exploits on bridges and protocols are still happening at an "unprecedented" speed and scale.
Former Paxos Exec on Stablecoin Regulation in the U.S.
Former Paxos head of portfolio management and Columbia Business School adjunct professor Austin Campbell discusses the state of stablecoin regulation in the U.S., citing the "substantive disagreements" in Washington, D.C. when it comes to progress over stablecoin legislation.
Bitcoin Hovers Around $26.5K Amid April Inflation Data, Debt Ceiling Talks
Brett Sifling, Director of Get Invested at Gerber Kawasaki, joins "First Mover" to discuss how the crypto markets are responding to the ongoing debt ceiling negotiations in Washington as April PCE data reveals that the gauge increased 4.7% on an annual basis. This comes as crypto conglomerate Digital Currency Group (DCG) is closing down its trade execution and prime brokerage services unit TradeBlock amid uncertainties across the markets and the regulatory front. DCG is the parent company of CoinDesk.
