Announcements

Illuvium Labs has launched a private beta for “Illuvium: Overworld” – the second of six Web3 games the team has planned over the next two decades. An alpha release of “Illuvium: Zero” could also be rolled out before Christmas. A new game for Illuvium Labs has gone live for the 30,000 lucky community members selected…

The algorithmic stablecoin USDD, backed by Tron’s founder Justin Sun and managed by Tron’s DAO, fell to $0.9695 on Dec. 12, the lowest since June 22. The algorithmic decentralized stablecoin lost its dollar peg last month as the collapse of FTX shook investor confidence in crypto assets. USDD, the Tron network’s algorithmic decentralized stablecoin, struggling…

Coinbase has called on users to convert their Tether (USDT) stablecoins to USDC – the stablecoin it co-founded – with zeroing exchange fees. The move follows a battle of words between Tether and some media outlets. “Now more than ever, stability and trust are of the utmost importance to customers,” Coinbase stated in an official…

Top investment deals across the crypto sector over the last week (Dec. 3–9, 2022): Uniswap-based DeFi protocol Panoptic raises $4.5 million Panoptic, a Uniswap-based decentralized finance protocol for trading perpetual options, raised $4.5 million in a seed funding round. Gumi Cryptos Capital led the round, with Uniswap Labs Ventures, Coinbase Ventures, Jane Street, Avalanche Foundation’s…

Crypto media site The Block was secretly funded over the last two years by Sam Bankman-Fried’s Alameda Research. CEO Michael McCaffrey has resigned as a result of the news coming to light, The Block confirmed on Dec. 9. Michael McCaffrey, The Block’s CEO, immediately resigned after the loans from Alameda Research came to light and…

Top crypto news from the Middle East region over the last week (Dec. 3–9, 2022): Ripple partner and JP Morgan join forces to enhance financial transfers in UAE Al Fardan Exchange, a crypto exchange licensed in the UAE and one of Ripple Labs’ partners, has inked a strategic partnership with global banking giant JP Morgan,…