lineojnad

@lineojnad

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Delivered the food & friends talk at brunch this morning and again at dinner tonight. So much gratitude for shared meals and meaningful connections.

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Beyond Solana, total cryptocurrency market capitalization dropped by 20% in February, driven by growing negative sentiment, Binance Research noted.

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”Some of the capital flowed into BNB Chain memecoins, driven in part by CZ’s tweets about his dog, Brocolli,” it added.

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On Feb. 21, the SEC dropped its investigation into OpenSea — one of the leading non-fungible token (NFT) marketplaces after probing the platform to determine whether NFT sales constituted securities offerings.

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The crypto market remains plagued by wash trading, fake volume and pump-and-dump schemes. The 2025 Chainalysis report estimates that $2.57 billion in illicit trading volume was artificially generated in 2024.

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Recent innovations in stablecoins include the launch of 1Money, a layer-1 payments network that supports multicurrency transactions.

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Crypto exchange Kraken had a 39% increase in regulatory and enforcement data requests in 2024, with the majority coming from US agencies, including the Federal Bureau of Investigation (FBI), according to its latest transparency report.

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The Blockchain Association claimed that the rule was a “midnight rulemaking” effort and that Congress should make all decisions with such far-reaching consequences. The letter urged Congress to vote in favor of the CRA resolution to support DeFi innovation, economic growth, job creation and financial inclusion.

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In addition to the compliance burden, the rule unfairly targets US-based crypto companies and could “cripple DeFi innovation” in the US.

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The Blockchain Association argued that this rule imposes severe and unjustified burdens on American DeFi companies, threatens innovation in the digital asset sector and undermines US competitiveness in financial technology:

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The IRS disclosed on Dec. 27, 2024, that the DeFi broker rules, if implemented, would affect up to 875 DeFi brokers in the US.

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Despite its controversy, biometric verification is considered an important driver of Web3 adoption and integration with financial services and healthcare.

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“Users are far more familiar with biometric authentication involving their palm and fingerprints than their iris code,” said Kwok.

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Earlier this month, Humanity Protocol founder Terence Kwok told Cointelegraph that his platform’s palm scans are “less invasive” than World’s iris scans without sacrificing security.

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In December, Germany’s data protection authority reprimanded World Network for its alleged mishandling of biometric data.

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The World project has faced its fair share of scrutiny, with Brazil’s data protection watchdog recently barring the company from servicing locals.

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Humanity Protocol isn’t the first blockchain project seeking to integrate biometric identification with Web3 financial services. In 2023, OpenAI’s Sam Altman co-launched Worldcoin (since rebranded to World Network), which uses Orb technology to scan users’ iris and generate a distinct digital identity.

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According to Humanity Protocol’s website, the platform is planning a token airdrop in partnership with OKX Wallet.

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Humanity’s funding round was backed by venture capital firms Pantera Capital and Jump Crypto at a fully diluted valuation of $1.1 billion. The funds will be used to further develop the so-called Proof of Humanity protocol, which links users’ palms to their digital identity across Web3 platforms.

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Decentralized identity platform Humanity Protocol has secured $20 million in venture funding to compete with the likes of World Network in the push for onchain identity solutions.

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