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Crypto Evening Briefing: Microsoft Kills Its Industrial Metaverse Team After 4 Months; Binance Deploys Zk-SNARKs on Proof-of-Reserves System

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Microsoft Kills Its Industrial Metaverse Team After 4 Months

In a surprising reversal, Microsoft has killed a team it formed four months ago to help customers use the metaverse in industrial settings, according to a person with direct knowledge of the matter. The group’s roughly 100 employees have all been laid off, the person said.

Binance Deploys Zk-SNARKs on Proof-of-Reserves System

Binance, the biggest centralized cryptocurrency exchange by volume, has added zk-SNARKs' zero-knowledge proof system to its proof-of-reserves (PoR) verification system to attest that funds held on the platform are backed 1:1. Currently, the PoR system supports verifying the exchange's reserves for 13 different crypto assets.

Coinbase Not Planning to Halt Staking Program Despite SEC Crackdown on Service

Coinbase, a leading cryptocurrency exchange based in San Francisco, has announced that it will not halt its crypto staking program despite reports of the SEC’s crackdown against crypto staking services in the U.S. The San Francisco-based exchange assured clients its staking program differs from Kraken’s. It added that the service does not constitute security.

Bank of England Mentions Ripple in Its Digital Pound Consultation Paper

Leading blockchain company Ripple has played significant roles in helping central banks in different parts of the world, including Bhutan. Following its considerable efforts towards the development of CBDC, Ripple was recently mentioned in the Bank of England (BoE) consultation paper on the digital pound, U.K.’s digital currency.

South Korea Sets Independent Sanctions for Crypto Theft Against North Korea

South Korea announced its first independent sanctions related to cryptocurrency thefts and cyber attacks against certain North Korean groups and individuals. According to Seoul's Ministry of Foreign Affairs, four North Korean individuals and seven businesses have been placed on a blacklist for their alleged involvement in cyberattacks and cryptocurrency theft, reported a local daily.

Market Watch

As of press time, according to Cointime data:

BTC 's live price is $21,790.14 USD, dropped by 4.17% in the last 24 hours;

ETH’s live price is $1,539.96 USD, dropped by 5.97% in the last 24 hours;

BNB’s live price is $306.44 USD, dropped by 4.49% in the last 24 hours;

XRP's live price is $0.3839 USD, dropped by 2.73% in the last 24 hours.

Fundraising News

Bankrupt Crypto Lender Celsius Seeks to Raise $14M From Bitmain Mining Vouchers

Bankrupt crypto lender Celsius is hoping to raise more than $14 million by selling discount vouchers for mining company Bitmain before they expire as it seeks to restore funds to creditors. The deal includes coupons that offer buyers of mining rigs a 10%-30% discount on future purchases from Bitmain, the maker of the Antminer range, as well as the credits that accrue when purchasers pay by instalment.

NFT Launching Platform ManesLAB Announces Completion of $1.8 Million Seed Round

ManesLAB announces completion of $1.8 million seed round financing led by YZB Investment, NFT Project Weirdoghostgang will continue to incubate more Web3 native IP and blockchain applications in the future, Facilitate the integration of Web2 space and Web3 ecology.

Fibonacci Chain Received 10 Million USD Investment From American SoftBank Capital

American Softbank Capital, a leading venture capital firm, recently announced that it would lead the investment of 10 million dollars in the Fibonacci Chain. This investment will provide financial support for Fibonacci Chain, helping it make greater progress in technology research and development and market promotion. 

Crypto Exchange C3 Has Raised $6 Million in Seed Funding Led by Two Sigma Ventures

The crypto exchange C3 has raised $6 million in seed funding led by Two Sigma Ventures, the venture-capital arm of the hedge fund Two Sigma Investments. C3 lets retail investors keep custody of their crypto while giving traders sophisticated tools. Cofounder Michel Dahdah told Insider he's aiming to fix the flaws that led to FTX's collapse.

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