The Russian Roundup: DeFi Despair In Wonderland – Issue #22
A week in crypto always seems to find a way to sneak in some unwanted drama and in the DeFi rabbit hole we were seeing major eyes on DeFi rebase project Wonderland.
In the current market conditions further uncertainty spread through Wonderland $TIME holders as devoted holders made efforts to dox the CFO of Wonderland Sifu revealing his background as a profound scammer who has been behind previous scams.
Many began to question the authenticity of the project as having a scammer as a Treasury Manager is never a good look. Defi tends to drive people away due to the prevalence of well orchestrated sophisticated scams hence the speed in which confidence can be lost in a DAO/protocol.
Reflective of the decentralised governance wonderland has given $TIME holders, there was a vote to conclude the next steps following the discovery of Sifu’s background which resulted in holders wanting him removed from his position.
Visa states $2.5billion Crypto-Linked Usage In Q1 2022 💵
With mainstream adoption ever growing, more people are using/holding crypto than ever. Visa major financial service stated that cards which were linked to crypto had a usage of $2.5billion USD in quarter one 2022!
This was an impressive metric as it stood out that more than ever people were leveraging the usage of crypto currency’s and extending the real life usage through crypto-linked debit cards.
The more people get comfortable with being able to seamlessly transact between spending their crypto, the more real time use cases can be identified. Visa have been one of the first large financial institutions that have welcomed crypto and it is with no surprise they have made expressed their findings regarding crypto users.
LeBron James Foundation X Crypto.Com In Multi-Year Partnership 🥂
Crypto.com are fast becoming regulars on the Russian Roundup as this week they announce an official partnership with the LeBron James Family Foundation (LJFF) with the collective objective of supporting Web3 workforce development and education.
The next step in the disperse of the technology built in the space to fulfill its potential is to have a process which is focused on the education of advanced tech.
Crypto.com CEO added the importance of gathering tools which “empower the next generation” in confidence of Web3 tech being revolutionary.
James added “Crypto.com and I are aligned on the need to educate and support my community with the information and tools they need for inclusion.”
Metaxy Launch First Closed Beta Test🔥
So far, the team is still proceeding according to Metaxy’s roadmap, with the successful launch of the Staking feature & Chest sale event.
And today, we’re happy to bring one more great news to all of our supportive users, one of the most anticipated events – Metaxy’s Closed Beta Test – is COMING!
⏰ Time: 8 AM UTC Feb 10th, 2022 – 8 AM UTC Feb 17th, 2022
✅ Read this article for more details: https://medium.com/@metaxy/official-announcement-metaxy-is-ready-to-launch-its-first-closed-beta-test-cea54e345d86
PayPal Stablecoin Coming Soon? 🅿️
We have previously known about PayPal having plans to dive into the crypto space with them offering crypto services in the US however, it seems like Paypal want to take the next step further with the development of a coin.
PayPal have claimed to be exploring the possibility of creating a stablecoin and some developers have identified possible coding in the Paypal iPhone app relating to a ‘PayPal Coin’.
As there is no official confirmation of this from PayPal we are exploring the resources of intelligent coders identifying this possible development however it can be an indication of further mainstream services tapping into the space.
As a reminder this is not a trading signal, it is an opinion and each trader/investor should know and understand the risks attached with trading. At no point should this be regarded as financial advice.
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