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CATEGORY: ava labs


CFTC adds execs from Circle, Ava Labs and Fireblocks to tech advisory group

Author: Cointelegraph By Brian Quarmby
United States
Mar 14, 2023 08:20

CFTC adds execs from Circle, Ava Labs and Fireblocks to tech advisory group

The technology advisory committee aims to assist the CFTC in “identifying and understanding the impacts and implications of technological innovation in financial services and markets.”

Jan 12, 2023 07:10

Avalanche (AVAX) Rises 24% in Last 24 Hours Following AWS Partnership

According to the official Avalanche Medium blog post, Ava Labs has teamed up with leading cloud provider, AWS, to bring scalable solutions to both enterprises and governments in a significant development for the blockchain industry. The Avalanche (AVAX) token has seen significant gains, with a 24% increase in the last 24 hours due to this partnership. […]

Nov 24, 2022 06:55

Bitfinex, Ava Labs raise $10M for DeFi technology amid market turmoil


Onomy, a Cosmos-based ecosystem, raised millions for its innovative protocol. The project mixes decentralized finance and FX to put it on-chain. Industry forecasts predict another challenging year while keeping investors interested. (Read More)

Crypto ‘staking’ likely to prompt regulation, says Ava Labs’ John Wu

Author: noreply@blogger.com (Unknown)
United States
Sep 21, 2022 11:10

Crypto ‘staking’ likely to prompt regulation, says Ava Labs’ John Wu

Regulatory spotlight on cryptocurrencies could be increased with the US Securities and Exchange Commission (SEC) tightening its crackdown in light of crypto staking, Ava Labs President John Wu says.

This is after Ethereum (ETH) completed its Merge switch, and SEC Chair Gary Gensler hinted at the regulatory outlook that tokens within the ecosystem could be termed securities. 

Staking is a ‘different construct’

Wu says that indeed some of these digital assets – not all – are probably securities. In response to a question about what his view is about staking and SEC Chair Gensler’s recent remarks, he told Bloomberg TV:

“Some of them [but] they’re all different. There’s utility, there’s loyalty tokens, there’s securities. Then there’s actually just, you know, fun digital collectibles called NFTs which clearly no one knows exactly what to do with it. “

Commenting specifically on staking in the aftermath of Ethereum’s merge, he noted:

“It’s a different construct – it’s never existed in traditional finance. You’re kind of putting labour to work. You’re putting collateral down to get yield. So it’s a hybrid. So maybe it should be income for work that you contribute as opposed to a security.”

In staking, token holders lock up assets on-chain to help in the network transaction processing through validation.

Validators, nodes that undertake to secure the network, then get paid a reward for their role. It’s different from proof-of-work, where miners rely on computational power to secure the network. 

In Ethereum’s case, the recent upgrade ditched the energy intensive PoW for the more eco-friendly proof-of-stake (PoS). Avalanche (AVAX), the blockchain platform that Ava Labs is helping develop also uses this type of consensus mechanism.

In other remarks on post-Merge Ethereum, Wu notes the change doesn’t affect the layer 1 networks within the ecosystem in the short term and that it’s in the best interest of the platforms that Ethereum succeeds.  

According to him, some of the issues around scalability should be addressed going into 2023

The post Crypto ‘staking’ likely to prompt regulation, says Ava Labs’ John Wu appeared first on Invezz.



from Cryptocurrency – Invezz

3 more exits for Ava Labs saga involved crypto lawyer

Author: Aishwarya shashikumar
Estonia
Sep 02, 2022 02:30

3 more exits for Ava Labs saga involved crypto lawyer

Rumors of Ava Labs working with a law firm appeared as the community tried to wrap up August positively. According to the well-known website Cryptoleaks, Ava Labs and Roche Freedman LLP agreed to shut down other cryptocurrency businesses in exchange for AVAX tokens. Ava Labs’ CEO rejected the accusations, calling them “conspiracy theory garbage.” Kyle […]

Aug 31, 2022 06:00

Daily Briefing: An Avalanche of Trouble

Unpacking the Avalanche scandal. Avalanche and Roche Freedman Happy Monday, everyone! Hope youve all had a great weekend and had some time to recharge because were hitting the ground running...

Aug 29, 2022 06:00

Ava Labs Controversy: AVAX Down as Lawyer Claims Dfinity Entrapment

GameFi project Trident has gone back on its plan to launch on Avalanche since the allegations surrounding Ava Labs surfaced. Avalanches AVAX token has also plummeted. Avalanche Suffers Amid Lawyer...

Aug 29, 2022 07:10

Ripple CEO Caught Up In A Major CryptoLeaks Scandal

Ripple CEO Brad Garlinghouse found itself in the latest pile of allegations levied by crypto whistleblower Crypto Leaks that he agreed to the proposal of becoming Kyle Roche’s angel investor in suing crypto competitors. This, as per the allegations, was meant to draw away regulators’ attention. Denying the rumors Garlinghouse tweeted, “Can’t comment on the […]

Jan 11, 2022 10:35

Ava Labs to Serve as Smart Contracts Platform for Turkish EV Maker TOGG


Ava Labs has entered into a strategic partnership with Turkish Electric Vehicle (EV) manufacturer TOGG to serve as its smart contract platform for next-generation auto cars. (Read More)

Dec 13, 2021 10:35

Mastercard Onboards Ava Labs as Part of Start Path Crypto Program


American payment services firm Mastercard has onboarded Avalanche blockchain creator Ava Labs as part of its Start Path Crypto Program. (Read More)

Apr 18, 2023 07:10

Sprucing Up Finance: AVAX Soars 17% In Weekly Chart As Institutions Join Evergreen Subnet

The cryptocurrency Avalanche (AVAX) has been drawing attention with its impressive performance in the past week, as it has risen by approximately 16.72%. According to the daily chart, there seems to be a bullish trend with a 5% gain. Currently, the token is being traded at $21.45, indicating that it has shown signs of recovery […]

Jun 13, 2023 05:50

Fear of blockchain will have ‘disastrous consequences’ — Ava Labs CEO testimony

Ava Labs CEO Emin Gün Sirer will be calling on United States officials to “nurture” and “support” responsible blockchain innovation, warning that they face “disastrous consequences” if they don’t. Gün Sirer’s comments in defense of what he describes as a “revolutionary technology” is part of a testimony that he is scheduled to give to the [...]

The post Fear of blockchain will have ‘disastrous consequences’ — Ava Labs CEO testimony appeared first on Crypto Breaking News.

R3 explores strategic options amid blockchain industry challenges

Author: Cointelegraph by Derek Andersen
United States
Oct 25, 2024 12:00

R3 explores strategic options amid blockchain industry challenges

R3 started out as a consortium and grew fast. Now it is reportedly waiting to see where fate takes it next.

Apr 07, 2023 07:10

Avalanche’s Evergreen Subnets: Paving The Way For Institutional Blockchain Deployments

Ava Labs’ Blockchain platform, Avalanche, is gearing up to introduce new institutional deployments in a bid to enhance the blockchain ecosystem, according to the platform’s latest blog post. The platform’s latest offering, the Avalanche Evergreen Subnets, is a suite of customized institutional blockchain deployments and tools aimed at catering to the unique needs of various financial […]

May 02, 2023 02:10

Ava Labs founder awarded $3M in crypto defamation suit

Ava Labs founder and CEO Emin Gün Sirer has reportedly won a defamation suit against a crypto influencer, awarding him $3 million in damages. The lawsuit stemmed from claims made in a February 2021 YouTube video by crypto influencer Emre Aksoy linking Sirer to an Islamist group the Turkish government calls the Fethullah Terrorist Organization [...]

The post Ava Labs founder awarded $3M in crypto defamation suit appeared first on Crypto Breaking News.

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