The following are the latest developments from the world of crypto over the past few days
Opera’s crypto browser is launching a non-fungible token (NFT) minting feature. Now, creating an NFT will be as simple as dragging and dropping a picture on the browser. It will generate a basic smart contract and upload the content to a Blockchain. The company has partnered with Alteon Launchpad, a cloud-based eco-system for creators, to power the NFT feature.
“Opera crypto browser is all about exploring Web 3.0 privately and securely. With Alteon LaunchPad, we are giving users the opportunity to contribute freely to this ecosystem. Now, our users will be able to create NFTs instantly and simply with no platform usage fees, encouraging more people to explore the burgeoning NFT industry,” Susie Batt, Crypto Ecosystem Lead at Opera, said in a press release.
The 3AC Liquidation Saga
Three months after receiving permission from Singapore’s High Court to start looking into the company’s assets, liquidators for Three Arrows Capital have seized around $35.6 million from the country’s bank accounts belonging to the defunct cryptocurrency hedge fund.
Teneo, a liquidation business that was ordered by a British Virgin Islands court, seized most of the money since Three Arrows crashed in July, leaving a $3.5 billion deficit in its aftermath. Liquidators have also collected $2.8 million in forced investor redemptions, as well as an undefined amount of cryptocurrencies.
Alameda Takes A Hit Because Of FTX’s High Leverage Trading
Alameda Research suffered a loss of $1 billion caused by FTX’s high-leverage trading last year, Financial Times said in a report citing people with knowledge of the situation.
Early in 2021, a client’s leveraged wager on a little-known token called mobilecoin, which is used for payments in the messaging app Signal, caused it to soar from $6 to almost $70 within seconds, revealing some holes in FTX’s financial reserves. According to Financial Times, the traders used the position to borrow against it on FTX, which could have allowed them to take cash from the exchange.
Galaxy Digital Acquires GK8
Galaxy Digital, a cryptocurrency-focused financial-services firm, has won a bid to buy GK8, a self-custody crypto platform, from insolvent crypto lender Celsius Network, Galaxy said in a press release on December 2, 2022.
The terms of the deal haven’t been disclosed yet, but Galaxy spokesman Michael Wursthorn claimed it was significantly lower than what Celsius paid a year ago. Celsius paid $115 million to acquire GK8 in November 2021.
Apple Rejects Latest Coinbase Update
Apple has rejected the latest update of Coinbase’s Self-Custody Wallet App, to prevent iOS device users from sending non-fungible tokens (NFTs). Coinbase Wallet said in a series of tweets that Apple wants the upgraded software to block the feature that allows users to transmit NFTs.
“You might have noticed you can’t send NFTs on Coinbase Wallet iOS anymore. This is because Apple blocked our last app release until we disabled the feature,” Coinbase said in a Tweet.