TLDR Index
TLDR Crypto

TLDR CRYPTO 2023-09-22

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01MARKETS & BUSINESS

TETHER IS LENDING ITS STABLECOINS AGAIN

Tether has resumed lending, despite previous commitments to halt the practice. As of June 30, the company's assets included $5.5 billion in loans, a slight increase from the previous quarter. This practice potentially poses a risk to the crypto landscape, as repayment is not guaranteed. While the company didn’t make clear whether or not these were new loans, it raised concerns that Tether could be winding up these practices again rather than sunsetting them.

archive.ph3 min read

MT. GOX TRUSTEE EXTENDS DEADLINE FOR CREDITOR REPAYMENTS BY A YEAR

The trustee of the collapsed Mt. Gox Bitcoin exchange has extended the deadline for repayments to creditors until October 2024. This news comes one year after the approval of a rehabilitation proposal, planning to pay back approximately 90% of the assets. Notably, the Estate holds about 138,000 Bitcoin and a similar amount in Bitcoin Cash, with a combined value of over $3.7 billion. The exact timing for individual repayments remains undecided.

decrypt.co3 min read

02INNOVATION & LAUNCHES

PROOF OF PLAY RAISES $33M FOR WEB3 RPG, EX-TWITCH CEO JOINS BOARD

Pirate Nation, a blockchain-based RPG, has secured $33m in a seed round led by Andreessen Horowitz and Greenoaks. Pirate Nation aims to immerse players in the game while avoiding technical barriers. The game's producer, Proof of Play, plans to develop "Forever Games," decentralized games that operate without creator intervention or external servers. Proof of Play is planning to open-source its technology framework, encouraging creation within its game architecture.

venturebeat.com3 min read

MESH, WHICH HELPS PEOPLE MANAGE THEIR DIGITAL ASSETS, RAISES $22M

Mesh, a startup providing a service for managing and transferring digital assets, has secured $22m in a Series A funding round. The funding will be utilized for enhancing its tools for deposits, payments, and payouts and supporting its go-to-market operations. Mesh offers businesses a platform to allow customers to shift assets, including cryptocurrency, across numerous platforms. The startup, founded in 2020, currently claims to have 70 paying clients from the finance and digital assets industries.

techcrunch.com2 min read

03GUIDES & TUTORIALS

DEAD NFTS: THE EVOLVING LANDSCAPE OF THE NFT MARKET

NFTs have seen a boom and bust, crashing after a bull run, leaving the market flooded with assets that lack buyers. A study encompassing over 73,000 NFT collections found colossal imbalances in the market characterized by over 95% of collections having zero value. While that is a staggering portion of NFTs that are deemed worthless, there was a much smaller pool of collections that people actually cared about to begin with, so this figure could be a bit misleading.

dappgambl.com10 min read

THE L2 PIVOT

Projects like Eclipse, Canto, and Astar are shifting to use Ethereum for their settlement layers due to its secure and cost-effective framework. This blog explains some of the reasons behind these shifts. Eclipse combines the strengths of Solana's tech and Ethereum's strong monetary layer. Canto, initially built on Cosmos SDK, is now migrating to Ethereum as an L2. Meanwhile, Astar aims to expand its reach to Ethereum with the Astar zkEVM, creating interoperability across chains.

bankless.com4 min read

04MISCELLANEOUS

FREE + VALUABLE: WHY I'M EXCITED ABOUT ZORA PROTOCOL REWARDS

Zora Protocol's new Rewards scheme is letting creators earn ETH from their work, even when it's minted for free, in a move that could disrupt the traditional art world. All Zora Mints, including those made by artists, singers, and writers, can now generate value indefinitely, providing creators with a new stream of income every time their work is minted on the platform. The change also safeguards at-risk artists by providing a counterbalance to exploitative economic forces.

paragraph.xyz10 min read

THE CASINO ON MARS

This blog explains how crypto can be likened to a newly discovered planet with its unique economic system and potential. Despite criticism and speculative hype, many see crypto offering fresh possibilities like providing worldwide financial services that are transparent, programmable, and more inclusive. Digital currencies such as BTC, ETH, and stablecoins are adopted extensively in nations where traditional systems fail. Despite its dark sides including potential scams and short-term speculation, supporters believe that crypto creates the ability to revolutionize money, finance, and digital property.

paradigm.xyz12 min read