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Sen. Elizabeth Warren has introduced legislation meant to limit Russia's capacity to avoid sanctions using crypto. The bill has drawn backlash from the crypto industry over its broad language, which could encompass uninvolved entities. The bill is early in the legislation process and reportedly unlikely to pass as it stands. More: - The "Digital Asset Sanctions Compliance Enhancement Act" would empower the treasury to bar crypto service providers from transacting with Russian crypto addresses and to sanction anyone found assisting a sanctioned person.
- The bill's definition of "digital asset transaction facilitators" is alarmingly broad to those in the industry.
- Anyone who facilitates the purchase, sale, lending, borrowing, exchange, custody, holding, validation, or creation of digital assets is considered one.
- The bill appears to lack bipartisan support.
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Universal Music's Web3 label, 10:22PM, has acquired a Bored Ape Yacht Club NFT for ~$360,000. Bored Ape #5537, known as "Manager Noët All," will serve as the manager for 10:22PM's virtual band, Kingship. More: - The virtual band will eventually produce music and perform virtual concerts in the metaverse.
- The band is made up of one mutant ape and three bored ape NFTs.
- All the apes in Kingship, excluding Manager Noët All, belong to NFT collector Jimmy McNelis.
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Coindesk's reporters traveled across the globe to capture photos of different crypto mining operations in those regions. Here is what they saw: Kryptovault, Hønefoss, Norway - 40 MW crypto mine in the suburbs of Oslo.
- The company spent $2M on noise-reducing panels.
- Kryptovault uses the excess heat from its miners to dry wood for a lumber company.
Southern Spain, PoW Energy, PoW Containers, Meatze - A solar farm mines bitcoin with a portion of the electricity it generates.
- The miners are housed in unmarked storage containers.
HIVE Blockchain, Boden, Sweden - HIVE is a publically traded company.
- This facility primarily mines Ether.
- The 30MW facility purchases the majority of its energy from a Swedish state-owned multinational hydroelectric power company called Vattenfall.
BitCluster, Norilsk, Russia - The cool temperatures of Siberia help save on energy costs.
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A trailer posted to social media teases the rumored BAYC 3D gaming experience created by Yuga Labs and Animoca Brands. The trailer featured popular projects BAYC, MAYC, CryptoPunks, CrypToadz, World of Women, Meebits, Cool Cats, and Nouns. Watch the teaser video here. More: - APECoin will be the underlying cryptocurrency of the new metaverse, called "Otherside."
- Animoca Brands will reportedly play a prominent role in the project.
- APECoin will "power" Otherside, which most likely means it will serve as the underlying currency for its marketplace and other transaction points.
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Web3 Tweet: How APECoin could become worth trillions. | |
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- Coinbase partner Balaji Srinivasan wrote a book on how to start a new country.
- NFT price distribution across collections.
- FTX announced that it is expanding to Australia.
- Tennis star Naomi Osaka has become an FTX ambassador.
- Bitcoin mining difficulty has dropped for the second time this month.
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UPCOMING EVENTS - March 22 - Venturing in VC - Episode 12: Elizabeth Yin (Hustle Fund) (Register Here)
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* This is a sponsored event. | |
| | Trevor Grant is an entrepreneur, investor, and writer based out of Chicago, Illinois. His primary area of interest is web3 venture capital, social tokens, and infrastructure. Other pursuits include screenwriting, yoga, and traveling. He holds a BS in biomedical engineering. Connect with him on Twitter @trevorisonline | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
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