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Crypto exchange Binance seeks critical licenses in Philippines, CEO says

by John Stapel

The exchange platform is looking to get virtual assets service provider and e-money issuer licenses from the Banko Sentral ng Pilipinas.

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Crypto exchange Binance seeks critical licenses in Philippines, CEO says

Changpeng Zhao, the CEO of crypto trading platform Binance, shared plans to acquire two licenses that are critical for the firm's operations within the Philippines.

In a press briefing in Manila, the Binance CEO mentioned that the exchange is looking to obtain the virtual assets service provider (VASP) license, which allows the platform to legally facilitate the exchange of digital assets and the conversion of crypto to the Philippine peso.

Apart from the VASP, Zhao also noted that the trading platform is working to acquire an e-money issuer license from Banko Sentral ng Pilipinas, the country's central bank. This license will allow Binance to issue electronic money.

The Binance CEO talked about plans to expand the country’s operations within the country. According to Zhao, the firm is looking into forming partnerships and investing in banks that operate in the Philippines. He said:

"We are interested in investing in traditional financial service centers including payment service providers, banks [...] we want to help bring those businesses into the blockchain world."

Zhao highlighted that the exchange's decision to broaden its presence within the country is due to local developments in terms of payment services and the country’s advanced "understanding of crypto."

Related: BNB price risks 40% drop as SEC launches probe against Binance

Zhao also noted his frustrations with Reuters’ recent report on the exchange. He said that the media outlet “just reported rumors and they didn't provide any supporting evidence.” He also urged the audience to not believe the rumors and assured them that the firm is not involved in illicit activities.

Two days ago, the exchange published a blog post to address the allegations made by Reuters. Within the post, the exchange fired back at the news platform, saying that the article was created to spread disinformation.

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Qatar Airways announced Tuesday that it had launched its first metaverse experience, QVerse. This virtual reality platform allows interested parties can virtually visit and navigate the Premium Check-in area at the International Airport of Hamad (HIA).

According to the company's statements to Cointelegraph however, QVerse is merely the company's first foray into the metaverse. The company said that it intends to expand its virtual environment initiatives and believes that the metaverse is part of the future of human relations.

“We believe that the future is virtual. The metaverse will empower human beings, expand their horizons and break their limits by challenging the most basic methods that were once limitations.”

Have you got your ticket to the #QatarAirways #QVerse? pic.twitter.com/CNtePu8YgE

— Qatar Airways (@qatarairways) April 19, 2022 \n\n

According to the company, its entry into the metaverse reflects its passengers desire for “immersive content that can empower their decision-making before buying a ticket, and are often eager to discover the aircraft they will fly.”

Related: Qatar exploring digital banks and central bank digital currencies

“That's why we believe QVerse will change the way passengers make their shopping choices,” company representatives stated.

The company also highlighted that it plans to add more functionalities, places and interactions to its metaverse platform, and aims to make the experience sociable and accessible through the Oculus Quest VR platform.

It also intends to include the purchase of tickets for physical flights and the choice of seats on real aircraft through the metaverse. The company noted that actions in metaverse gateways like Decentraland and The Sandbox may occur in the future.

Related: Qatar Financial Centre Puts Blanket Ban on Cryptocurrency Businesses

“We are currently focusing on creating our metaverse rather than investing in Decentraland or Sandbox. But we do not rule out this plan. We continue to explore how we can develop this area and strategically incorporate NFTs into QVerse.”

Last year Qatar Airways became the first airline in the Middle East to adopt the IATA Blockchain 'Digital Passport', in partnership with the International Air Transport Association (IATA). Recently, the US Air Force also announced its entry into the metaverse and filed a trademark application for an initiative called SpaceVerse. While details of the order and what the SpaceVerse are scarce, the order highlights that this will be a virtual reality training, testing and operations environment for the US defense agency.

",audio:q,facebookShares:f,twitterShares:f,linkedinShares:f,redditShares:f,views:e,shares:e,tags:[{id:aj,slug:lJ,title:ky,url:i_},{id:ax,slug:"cryptocurrencies",title:"Cryptocurrencies",url:"/tags/cryptocurrencies"},{id:lV,slug:"technology",title:"Technology",url:"/tags/technology"},{id:kF,slug:kG,title:jg,url:ii},{id:"5893",slug:"metaverse",title:"Metaverse",url:"/tags/metaverse"},{id:of,slug:og,title:oh,url:kH}],topics:[],relatedPosts:[],trackingPixelUrl:"https://zoa.cointelegraph.com/pixel?postId=87823regionId=1",showShares:b,showStats:b,isNoIndex:a},{id:kE,isDeleted:a,isDisclaimerHidden:f,isSponsored:a,isPressRelease:a,isExplained:a,slug:"appeals-court-rules-do-kwon-terraform-labs-must-heed-sec-subpoena-served-in-september",url:nW,absoluteUrl:xZ,title:lP,youtubeVideoIdCover:d,cover:nX,datePublished:aa,dateHuman:x_,humanDateTime:"2022-06-09 21:30",dateISOFull:"2022-06-09T20:30:00+01:00",publishedDateTimeObject:{year:D,month:y,day:z,hour:ij,minute:ik,second:e,millisecond:e},categorySlug:ab,categoryUrl:ac,categoryName:ad,authorName:x$,authorUrl:ya,authorAvatar:"https://s3.cointelegraph.com/storage/uploads/view/af8c554aba399ed7df3cebda0a020e54.jpg",previewText:xN,twitterLeadText:"The U.S. court system won’t let Do Kwon, Terraform Labs avoid Mirror Protocol securities case.",badgeSlug:g,badgeName:av,fullText:"

The United States Court of Appeals for the Second Circuit on Thursday rejected Terraform Labs CEO Do Kwon’s dispute of a subpoena by the Securities and Exchange Commission (SEC). The federal agency was seeking documents and testimony in connection with its investigation of whether Terra used the Mirror Protocol to sell unregistered securities.

Kwon was served with the subpoena in September 2021 while he was attending a conference in New York City. Kwon claimed in an October filing that the SEC had violated its own rules, the Administrative Procedure Act and other regulations by serving the subpoena in person. He later also disputed the court’s jurisdiction over the case due to Terraform’s lack of contact with the United States. That court rejected those claims in February.

The appeals court ruled that the subpoena was properly served and that the SEC could serve Terraform as a corporate entity through Kwon. Furthermore, the appeals court found that the district court did have jurisdiction over Terraform Labs and Kwon.

Related: Luna Classic pricing error leads to Mirror Protocol exploit

The SEC began its interaction with Terraform and Kwon in this case in May 2021, according to the petition filed in October. The SEC emailed Kwon seeking his voluntary cooperation in its investigation and, acting on that request, Kwon and his legal representatives spoke to SEC attorneys in July. Terraform’s lawyers were actively negotiating with the SEC at the time the subpoena was served.

Besides the collapse of the $40 billion Terra ecosystem, Kwon and Terraform have faced charges of tax evasion and market manipulation in South Korea. A local media outlet al tied Terraform with money laundering in a May 30 report. A series of tweets a week earlier also leveled charges of malfeasance against Terraform.

Here's a deep dive into chain data suggesting Mirror Protocol, TFL's 'decentralized' stock exchange, is really just a farce designed to enrich Do Kwon/VCs while manipulating governance and screwing over retail. Thank you for being so bad at hiding on-chain moves, Do.

— FatMan (@FatManTerra) May 25, 2022 \n\n

Bloomberg reported Thursday, citing an unnamed source, that the SEC is also investigating whether Terraform violated investor protection regulations before the Terra collapse. Terraform told Bloomberg in a statement that it was unaware of that investigation.

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On a sun-splashed day in the Swiss Alps, the chief technology officer of Bitfinex and Tether, Paolo Ardoino, shed light on the Plan B Lugano strategy, Tether as an onramp into Bitcoin (BTC) and —crucially — his favorite pizza toppings. 

Fresh off the plane from Norway, where Ardoino attended an increasingly Bitcoiner-friendly event, the Oslo Freedom Forum, the Italian explained that, in contrast to the WEF,there was no “shilling” in Norway.

Tether was invited to speak at the Oslo Freedom Forum as the stablecoin is increasingly considered an “instrument of freedom.” Tether has been adopted by the Myanmar government while the Ukrainian government has accepted crypto donations, including Tether, since the onset of the Russia-Ukraine war. 

“Tether is one of the tools to be used by distressed countries where the national currency is devaluating—where people want an edge against insane inflation.”

Ardoino cites Turkey and Argentina as examples. The Turkish lira has lost 50% of its purchasing power and crypto, often seen as a hedge against uncertain currencies, is experiencing a second wave of interest. Ardoino also conceded that:

“Bitcoin is great but they want the price stability, the long-term price stability. [...] “Bitcoin is great for many things but it’s not yet understood by many.”

Regarding the Plan B strategy in Lugano, where Bitcoin and Tether are de facto legal tender in the Swiss city, Ardoino shared that educational models in Switzerland are being shared across to El Salvador.

“Bitcoin is for everyone. You have people in a poor country that need Bitcoin as the basic financial infrastructure. On the other side, you have a country with the most banks in the world, and they still need Bitcoin.”

Related: Tether launches crypto and blockchain education program in Switzerland

Ardoino also critiqued Satoshi Nakamoto's choice of pizza toppings. Bitcoin Pizza Day occurred the day before the WEF, a day where Bitcoiners around the world eat and attempt to pay for pizza with Bitcoin. The creator of Bitcoin, Satoshi Nakamoto, famously enjoyed pineapple and jalapeños on pizza, to which Ardoino commented, “nobody is perfect.”

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Law firms Holland Knight and Bluestone have served a defendant in a hacking case with a temporary restraining order through a nonfungible token, marking the first known legal process to be facilitated by an NFT.

The so-called “service token” or “service NFT” was served to an unnamed defendant in a hacking case involving LCX, a Liechtenstein-based cryptocurrency exchange that was hacked in January for almost $8 million. As Cointelegraph reported at the time, the attack compromised the platform’s hot wallets, resulting in the loss of Ether (ETH), USD Coin (USDC) and other cryptocurrencies.

Holland Knight has become the first law firm to serve a defendant by #NFT, which was created and airdropped by our #AssetRecovery Team. Learn more from our client @LCX. https://t.co/wWs2cOVVY1 #crypto #blockchain #legalinnovation pic.twitter.com/mo7VaAKEgo

— Holland Knight (@Holland_Knight) June 8, 2022 \n\n

LCX reported on June 7 that approximately 60% of the stolen funds are now frozen with investigations currently underway in Liechtenstein, Ireland, Spain and the United States. Approximately $1.3 million in USDC was frozen by Centre Consortium, an organization founded by USDC issuer Circle and crypto exchange Coinbase, based on a court order from the New York Supreme Court.

Related: Optimism loses 20M tokens after L1 and L2 confusion exploited

LCX said the funds were laundered via crypto mixer Tornado Cash but were later traced through “algorithmic forensic analysis.” The analysis also allowed the company to identify wallets associated with the hacker.

You've been served! #subpoena About 1 hour ago, @LCX's lawyers served a \"Service NFT\" to a subject address. Approx. 1.3M $USDC frozen on chain.

Additional details and statement by LCX will be published within 24h.

Service NFT https://t.co/i3D5huCZz7

— Monty Metzger (@montymetzger) June 7, 2022 \n\n

In light of these findings, Holland Knight and Bluestone, the law firms representing LCX, served the anonymous defendant with a temporary restraining order that was issued on-chain using an NFT. This method “was approved by the New York Supreme Court and is an example of how innovation can provide legitimacy and transparency to a market that some believe is ungovernable,” LCX said.

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Legendary New York hip-hop artist and producer, Jay-Z has joined forces with the founder of Cash App, Jack Dorsey, to launch \"The Bitcoin Academy,\" an educational program advocating for the democratic vision that “education is power.”

Exclusively available for residents of the Marcy Project public housing complex in New York City, the scheme will commence June 22 and run until Sept. 7 with options for both in-person and online attendance. The free educational program is designed to enhance access to financial information and promote inclusive opportunities.

Taught by educators Lamar Wilson of the Black Bitcoin Billionaire and Najah J. Roberts of the Crypto Blockchain Plug, the specific details of the lessons are sparse at this time, but topics surrounding the necessity, utility and vision for Bitcoin as well as general financial literature are all expected.

Children aged five to 17 have also been encouraged to join the \"Crypto Kids Camp\" on two of the Saturday events, while adult attendees will receive a portable WiFi hotspot device, a one-year limited data plan and a smartphone, if required.

Mr @sc and I are funding The #Bitcoin Academy, a program for residents of Marcy Houses in Brooklyn New York where Jay grew up, designed in collaboration with @CryptoPlug3 and @BlkBTCBillions: https://t.co/hKfq1jqii7

— jack (@jack) June 9, 2022 \n\n

Dorsey said he was inspired by the results of Bitcoin initiatives that have supported a small-section of African and Central and South American populations. He stated that the overarching goal is “to prove that making powerful tools more available to people enables them to build greater independence.”

Settling potential fears of favoritism, or maximalism towards the leading cryptocurrency asset, Dorsey expressed that the program aims to go beyond the teaching of Bitcoin to conversations surrounding “long-term thinking, local economies and self-confidence.”

Related: Jack Dorsey on UBI: Bitcoin encourages transparency, long-term thinking

Dorsey and Jay-Z — personal name Shawn Carter — are both vocally conscious figures within the cryptocurrency and Web3 landscape. The former has made strides in spotlighting crypto across the Block and Cash App, while Carter is synonymous with his CryptoPunk avatar and passion for artistic autonomy on the blockchain.

The duo co-own a multi-million-dollar music record label called Tidal, which hinted at a desire to integrate nonfungible tokens (NFTs) onto its streaming service last year.

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Blockchain oracle platform Chainlink (LINK) launched two of its services, Chainlink Keepers and Chainlink Verifiable Random Function (VRF) and integrated them into the Avalanche Primary Network, a special subnet within the Avalanche (AVAX) platform.

In the announcement sent to Cointelegraph on Thursday, the Chainlink team highlighted that the integration with Avalanche is done to support developers within the platform. Chainlink Keepers will enable developers to automate smart contract functions in a decentralized manner. On the other hand, Chainlink VRF will provide a random number generator (RNG) that can be used in many decentralized applications (DApps) that require randomness.

Emin Gün Sirer, the founder and CEO of Ava Labs, expressed his belief that integration is a big milestone for those who are building in Avalanche. According to Sirer, this will \"simplify both the developer and user experiences.\" Apart from this, the Avalanche executive noted that this will also improve functionalities and designs within DApps. He stated that:

“The Avalanche Community is full of tireless builders, and their ability to rapidly build and ship applications at scale just became even easier.\"

Chainlink Co-Founder Sergey Nazarov also expressed his sentiments over the new development. He explained that the integration will allow developers to make smart contract apps with end-to-end automation and apply a verified RNG to any application within the platform.

Related: DeFi protocols declare losses as attackers exploit LUNA price feed discrepancy

Back in February, Chainlink launched the second version of its VRF function. With the function, the Chainlink platform provides random numbers and presents cryptographic proof that the number was determined by combining block data and an oracle's private key.

Earlier in June, Chainlink also launched its price feeds feature on the Solana (SOL) blockchain. This function enables developers within the Solana platform to use the BTC/USD, ETH/USD and USDC/USD price feeds within their applications.

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",audio:"https://s3.cointelegraph.com/audio/87808.494b482e-99e1-488f-9f7a-dedb01763ac5.mp3",facebookShares:f,twitterShares:f,linkedinShares:f,redditShares:f,views:1009,shares:ih,tags:[{id:aj,slug:lJ,title:ky,url:i_},{id:kF,slug:kG,title:jg,url:ii},{id:"1355",slug:"dapps",title:"DApps",url:"/tags/dapps"},{id:"9318",slug:yp,title:aI,url:"/tags/chainlink"},{id:"9415",slug:"defi",title:om,url:on},{id:"9587",slug:yq,title:aJ,url:"/tags/avalanche"}],topics:[],relatedPosts:[],trackingPixelUrl:"https://zoa.cointelegraph.com/pixel?postId=87808regionId=1",showShares:b,showStats:b,isNoIndex:a},{id:ig,isDeleted:a,isDisclaimerHidden:f,isSponsored:a,isPressRelease:a,isExplained:a,slug:"despite-what-you-heard-nft-market-is-far-from-dead-dappradar",url:xW,absoluteUrl:"https://cointelegraph.com/news/despite-what-you-heard-nft-market-is-far-from-dead-dappradar",title:oa,youtubeVideoIdCover:d,cover:xX,datePublished:aa,dateHuman:"6 hours ago",humanDateTime:"2022-06-09 17:01",dateISOFull:"2022-06-09T16:01:27+01:00",publishedDateTimeObject:{year:D,month:y,day:z,hour:kI,minute:s,second:lY,millisecond:e},categorySlug:ab,categoryUrl:ac,categoryName:ad,authorName:ym,authorUrl:yn,authorAvatar:yo,previewText:"There’s no question that blue-chip NFT collections such as BAYC have declined in value recently, but the market for digital collectibles is much bigger. ",twitterLeadText:"Reports of #NFTs being dead are way overblown. Report by CT Business Editor @forgeforth_",badgeSlug:g,badgeName:av,fullText:"

The market for nonfungible tokens, or NFTs, has slowed from its peak, but that doesn’t mean the industry is dead — far from it, actually. 

NFT sales volumes came in at a healthy $3.7 billion in May, according to DappRadar’s latest Industry Report, which was released on Wednesday. While volumes were down 20% compared with April, industry activity remains robust considering that crypto assets as a whole are in a bear market .

DappRadar also highlighted the fact that marketplace volumes aren’t down nearly as much when measured in their native tokens such as Ether (ETH). Case in point: OpenSea, the largest NFT marketplace, generated 950,000 ETH in trading volume last month, which was down only 6.5% compared with April. When measured in United States dollars, OpenSea’s monthly volumes decreased by 25%.

Meanwhile, Solana NFTs posted their best trading month, generating $335 million in volume across all marketplaces for an increase of 13% compared with April.

While NFT sales and trading volume are down from their peak, industry activity remains robust. Source: DappRadar.

DappRadar’s report cited NFT collections such as Moonbirds and Solana’s Okay Bears as being the biggest catalysts for the industry’s solid performance in May. Meanwhile, the free-to-mint NFT collection Goblintown has generated $31 million in sales since launching on May 22. The high demand pushed the project’s floor price from zero to 6 ETH at the time of publication.

However, the news wasn’t all positive, as so-called “blue-chip” collections such as Bored Ape Yacht Club (BAYC) saw their value decline sharply as buyers shifted to the newly hyped collections. The floor price for BAYC declined 38% in May, falling from 150 ETH to 93 ETH, according to DappRadar.

Related: Nifty News: Robinhood to launch a Web3 wallet, LimeWire inks deal with Universal, and more

Although NFTs are not immune to crypto market volatility, the industry appears to be carving out a strong niche — and gaining mainstream adoption in the process. According to a recent report by crypto data aggregator CoinGecko, the NFT market is projected to move more than $800 billion over the next two years.

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",audio:"https://s3.cointelegraph.com/audio/87803.d9da46f6-4a36-471c-ba68-88480090c77b.mp3",facebookShares:f,twitterShares:f,linkedinShares:f,redditShares:f,views:754,shares:lY,tags:[{id:"399",slug:"research",title:oo,url:"/tags/research"},{id:"1887",slug:"report",title:"Report",url:"/tags/report"},{id:"8774",slug:"crypto-collectibles",title:"Crypto Collectibles",url:"/tags/crypto-collectibles"},{id:of,slug:og,title:oh,url:kH}],topics:[],relatedPosts:[],trackingPixelUrl:"https://zoa.cointelegraph.com/pixel?postId=87803regionId=1",showShares:b,showStats:b,isNoIndex:a},{id:lS,isDeleted:a,isDisclaimerHidden:f,isSponsored:a,isPressRelease:a,isExplained:a,slug:"polygon-taps-airbnb-s-director-of-hr-to-spearhead-its-decentralized-workforce",url:ob,absoluteUrl:yr,title:lT,youtubeVideoIdCover:d,cover:oc,datePublished:aa,dateHuman:lH,humanDateTime:"2022-06-09 14:00",dateISOFull:"2022-06-09T13:00:00+01:00",publishedDateTimeObject:{year:D,month:y,day:z,hour:kM,minute:e,second:e,millisecond:e},categorySlug:ab,categoryUrl:ac,categoryName:ad,authorName:kK,authorUrl:kL,authorAvatar:ol,previewText:"Cointelegraph spoke to Polygon’s newly appointed global head of HR, Bhumika Srivastava, to learn more about her Web2-to-Web3 transition and philosophy for decentralized cultures, among other things.",twitterLeadText:"Web3 reporter @tomfarrencrypto sat down with Bhumika Srivastava to discuss her new role at Polygon, and the challenges of decentralized workforces.",badgeSlug:g,badgeName:av,fullText:"

Ethereum layer-2 scaling solution Polygon has announced the hiring of Bhumika Srivastava in a bid to consolidate its strategy and cultural ambitions for the company’s 500-employee global workforce.

Serving as the head of human resources and director for employee experience at Airbnb for the past five years, Srivastava arrives with an illustrious portfolio and plethora of experience from her work in Web2, having occupied senior roles at Adobe, Yahoo, Tesco PLC and Snapdeal.

Srivastava’s appointment marks a consistent trend in Polygon’s hiring strategy of prominent figures within the Web2 space, such as the former head of gaming at YouTube, Ryan Wyatt, being hired as CEO of Polygon Studios in January and, more recently, Tyler Sellhorn being brought on to promote Polygon’s decentralized working model as head of remote. 

In an interview with Cointelegraph, Srivastava spoke candidly about the necessities of leadership, Polygon’s parabolic employee growth over the past year, and her ambitions to cultivate a thriving decentralized culture that operates with sustainable high-performance. 

— Polygon Ecosystem Updates (@0xPolygonNews) June 8, 2022 \n\n

Cointelegraph: Albeit only being in the role for two days, how do you expect your position with Polygon to differ from that of Airbnb? And what are your anticipations in transitioning into the Web3 space? 

Bhumika Srivastava: I would say that Web2 to Web3 is very redefining for HR. […] The teams are distributed, remote-first, working in a hybrid space, and everyone is responsible for their own piece of work.

What will be different is creating an employee experience for distributed teams, a sense of engagement belonging to the teams which are working in silos, and also empowering teams to take decisions to work in an agile fashion, and not just, you know, ingrained in a very structured way of processes.

CT: What do you believe are your best qualities as a leader, and what’s your timeline of achievement? 

BS: I think short-term results and motivation [are] definitely required, especially in a startup. We have a line of sight for about two to three months. How do you create clarity on the priority-setting for your employees? You pay for their performance — rewarding them in the short term is going to be critical. 

As for the long term, how do you engage the workforce to retain [them]? How do they get a sense of purpose in defining and achieving the vision for the organization in the long run?

So, it's going to be a combination of both. How do we achieve both short term in terms of attraction and retention, and long term in terms of belonging and engagement?

CT: Are you planning to interact and engage your employees in the Metaverse space, or will it be solely via video conferencing platforms such as Zoom? 

BS: I don’t have to have that experience. It's new for me, and a transition, but I'm really excited to try out new things in the Web3 space.

CT: Polygon has recorded an employee increase of 400% over the past year to 500 team members. Do you believe that’s a sustainable strategy moving forward bearing in mind the current crypto bear market, and increase in layoffs we’re seeing at companies such as Coinbase and Gemini? 

BS: We are very conscious of the way we are operating. We want to scale the organization, and not just the number of people that we want to hire, [but] to create high-performing, lean teams. For now, I won't say that we are going to continue with a 400% growth rate, but whatever makes sense for us to create a sustainable Web3 platform, we will definitely do that.

Related:  Polygon launches ‘Supernet’ chains, pledges $100M to Web3 developers

CT: What do you believe will be your biggest challenges in the role, and what are your biggest ambitions? 

BS: I would say in terms of the biggest challenge, […] how do we create an ecosystem where we are able to employ people, keeping in mind the legality and regulations of a particular country?

The second one is bringing together all the teams who are based across the world in a remote-first environment and create a sense of teamwork, cohesiveness, engagement and a sense of purpose.

So, these are two top-of-mind things at the moment. And then later on, how do we re-look at HR technology for a Web3 organization, especially given how distributed platforms are working?

",audio:"https://s3.cointelegraph.com/audio/87738.e07d242c-b956-4605-bad9-ef29731edf0a.mp3",facebookShares:f,twitterShares:f,linkedinShares:f,redditShares:f,views:1537,shares:ih,tags:[{id:lK,slug:nS,title:lL,url:kz},{id:lZ,slug:"decentralization",title:"Decentralization",url:"/tags/decentralization"},{id:kF,slug:kG,title:jg,url:ii},{id:"1399",slug:"airbnb",title:"Airbnb",url:"/tags/airbnb"},{id:"9577",slug:ys,title:aK,url:"/tags/polygon"}],topics:[],relatedPosts:[],trackingPixelUrl:"https://zoa.cointelegraph.com/pixel?postId=87738regionId=1",showShares:b,showStats:b,isNoIndex:a},{id:fY,isDeleted:a,isDisclaimerHidden:f,isSponsored:a,isPressRelease:a,isExplained:a,slug:"tether-deploys-new-usdt-token-on-the-tezos-blockchain",url:od,absoluteUrl:yt,title:lU,youtubeVideoIdCover:d,cover:oe,datePublished:aa,dateHuman:op,humanDateTime:"2022-06-09 12:59",dateISOFull:"2022-06-09T11:59:31+01:00",publishedDateTimeObject:{year:D,month:y,day:z,hour:ay,minute:oq,second:or,millisecond:e},categorySlug:ab,categoryUrl:ac,categoryName:ad,authorName:kK,authorUrl:kL,authorAvatar:ol,previewText:"The asset will also be available on 12 other networks, including Ethereum, Solana and Polkadot, among others.",twitterLeadText:"Stablecoin project Tether launches new asset USDT designed for the payment and decentralized finance sectors. ",badgeSlug:g,badgeName:av,fullText:"

Leading cryptocurrency stablecoin Tether has announced the launch of a new asset, Tether (USDT) tokens, built on the Tezos blockchain, and with the ambition of expanding its digital footprint across the digital payments and decentralized finance (DeFi) sector.

According to the press release, “USDT on Tezos will power revolutionary applications across payments, DeFi, and more.” In conversation with a Tether representative, greater context was provided as to the intended utility of Tether tokens:

“Tether tokens are not an investment but a utility for engaging in internet commerce, combating volatility, and providing a safe haven for remittances. Tether tokens can be securely stored, sent, and received across the blockchain and are redeemable for the underlying asset, subject to the terms of service and fee schedule.”

The representative continued on to reveal the names of the 12 blockchains, including Tezos, on which the asset will become accessible.

Related: Tether’s reported bank partner Capital Union shares its crypto strategy

“Tether currently supports transfers on a diverse and growing list of blockchains including Solana, Ethereum, Kusama, Avalanche, Polkadot, Algorand, EOS, Liquid Network, Omni, Tron and Bitcoin Cash’s Standard Ledger Protocol.”

Tether chief technology officer Paolo Ardoino spoke highly of the launch, anticipating that it will support Tether’s growth across the coming years.

“Tezos is coming fast onto the scene and we believe that this integration will be essential to its long-term growth.” 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m",supply:hN,supplyFormatted:hO}]},currencies:[{id:AN,name:h,sign:AO,value:mg},{id:AP,name:i,sign:AQ,value:my},{id:AR,name:j,sign:AS,value:nd},{id:AT,name:k,sign:mf,value:no},{id:AU,name:l,sign:AV,value:nr},{id:AW,name:m,sign:AX,value:nu},{id:AY,name:n,sign:AZ,value:nx},{id:A_,name:A$,sign:Ba,value:nF},{id:Bb,name:o,sign:mf,value:nK}],graphs:{}},types:{},user:{isAuthed:a,isAuthedBySocials:a,token:q,id:q,firstName:d,lastName:d,userName:d,avatar:d,email:d,description:d,userGaId:d,ipAddress:"45.55.58.19",analyticsData:[],sessionId:d},vendors:{isVendorsModalShown:a,info:{},localI18n:{}},viewport:{isWindowActive:b,viewportWidth:e,viewportHeight:e,scrollTop:e,scrollIsLocked:a,breakpoint:"XS",isOverlayVisible:a,userDeviceType:{apple:{phone:a,ipod:a,tablet:a,device:a},amazon:{phone:a,tablet:a,device:a},android:{phone:a,tablet:a,device:a},windows:{phone:a,tablet:a,device:a},other:{blackberry:a,blackberry10:a,opera:a,firefox:a,chrome:a,safari:a,device:a},any:a,phone:a,tablet:a},bottomZoneHeight:e}},serverRendered:b,routePath:lF}}(false,true,2,"",0,void 0,"default","USD","EUR","GBP","JPY","RUR","KRW","TRY","CNY","_self",null,4,1,"0.00",3,"Language","1.00 b",1000000000,6,9,"en","1",50,2022,"22","EOS","NEO","2","6","54","es",100000000,"100.00 m","1.00","0.00 ","23","Note that all trading strategies are to be used at your own risk. Before trading, we recommend to make sure that you have a clear understanding of cryptocurrencies and how they are traded.","xxs","xs","sm","md","lg","73","40","17","27","0.03","0.80","2022-06-09","latest-news","/category/latest-news","Latest News",79,138,"20","0.32",5,"11","adbutler","18","21","38","58","4","Bitcoin",48,"24","39","0.08","News","tr","72",11,"Tether","53","36","71","1.06 b","0.05","article","cointelegraph.com","Terra","Chainlink","Avalanche","Polygon","https://cointelegraph.us3.list-manage.com/subscribe/post-json?u=2c088712615955cd2f82aa968id=7376af3992","https://cointelegraph.us3.list-manage.com/subscribe/post-json?u=2c088712615955cd2f82aa968id=aad9f6b505","7","26","kucoin-button","/bitcoin-cash-price-index","/ltc-price-index","/xrp-price-index","/xmr-price-index","_blank",51,"52","Ethereum","34","19","55","41","57","59","0.40","0.34","0.00%","0.07","87786","en.LanguageType.1","fr","ar","Kucoin","https://www.kucoin.com/?utm_source=CTC-1",10,47,"BTC","\n\n\n ","/bitcoin-price","ETH","\n\n\n\n\n\n\n\n ","/ethereum-price","3","LTC","Litecoin","\n\n\n ","15","BNB","Binance Coin","\n\n\n \n","/binance-coin-price-index","SOL","Solana","\n\n\n\n\n\n\n\n \n\n \n","/solana-price-index","XRP","Ripple","\n\n \n","BCH","Bitcoin Cash","\n\n\n ","XMR","Monero","\n\n\n\n \n","8","DASH","Dash","\n\n\n\n \n","/dash-price-index","9","\n\n\n \n","/eos-price-index","WAVES","Waves","\n\n ","/waves-price-index","ZEC","Zcash","\n\n\n\n\n \n","/zec-price-index","12","ADA","Cardano","\n\n ","/ada-price-index","13","\n\n\n\n \n","/neo-price-index","14","TRX","TRON","\n\n\n \n","/tron-price-index","16","XLM","Stellar","\n\n\n\n \n","/stellar-price-index","USDT","\n\n\n \n","/tether-price-index","MIOTA","IOTA","\n\n \n","/iota-price-index","ONT","Ontology","\n\n\n \n","/ontology-price-index","MKR","Maker","\n\n\n \n","/maker-price-index","BSV","Bitcoin SV","\n\n\n \n","/bsv-price-index","DOGE","Dogecoin","\n\n\n \n","/doge-price-index","ETC","Ethereum Classic","\n\n\n\n\n\n\n\n\n\n\n\n\n \n","/etc-price-index","XTZ","Tezos","\n\n\n\n\n\n\n \n\n \n","/xtz-price-index","XEM","NEM","\n\n\n\n \n","/nem-price-index","USDC","USD Coin","\n\n\n ","/usdc-price-index","28","CRO","Cronos","\n\n\n\n ","/cronos-cro-price-index","29","ATOM","Cosmos","\n\n\n\n\n\n\n\n \n","/cosmos-price-index","30","LEO","UNUS SED LEO","\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n \n\n \n","/leo-price-index","UNI","Uniswap","\n\n\n\n \n\n\n\n\n \n\n \n","/uniswap-price-index","YFI","Yearn.finance","\n\n\n\n\n \n","/yearn-finance-price-index","33","MATIC","\n\n\n \n","/polygon-price-index","37","BAND","Band Protocol","\n\n\n \n","/band-protocol-price-index","LINK","\n\n\n \n","/chainlink-price-index","DOT","Polkadot","\n\n \n","/polkadot-price-index","COMP","Compound","\n\n\n \n","/compound-price-index","35","AAVE","Aave","\n\n\n\n\n\n\n \n\n \n","/aave-price-index","SUSHI","SushiSwap","\n\n\n \n\n\n\n\n\n \n\n\n\n\n\n \n\n \n","/sushiswap-price-index","SNX","Synthetix","\n\n\n \n","/synthetix-price-index","CAKE","PancakeSwap","\n\n\n\n \n\n\n\n\n \n\n \n","/pancakeswap-price-index","LUNA2","\n\n\n\n\n \n\n\n\n\n \n\n\n\n \n\n\n \n\n","/terra-price-index","VET","VeChain","\n\n ","/vechain-price-index","AVAX","\n\n\n \n","/avalanche-price-index","60","SAND","The Sandbox","\n\n\n\n\n\n\n \n\n ","/the-sandbox-sand-price-index","61","MANA","Decentraland","\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n ","/decentraland-mana-price-index","62","AXS","Axie Infinity","\n\n\n\n\n\n\n\n\n\n \n\n\n\n\n \n\n ","/axie-infinity-axs-price-index","63","DAI","Dai","\n\n\n\n \n\n\n\n \n\n","/dai-price-index","65","FTT","FTX Token","\n\n\n\n\n\n\n ","/ftx-token-ftt-price-index","64","NEAR","Near Protocol","\n\n\n ","/near-protocol-price-index","68","FTM","Fantom","\n\n\n ","/fantom-ftm-price-index","69","ALGO","Algorand","\n\n\n ","/algorand-algo-price-index","67","HBAR","Hedera","\n\n\n ","/hedera-hbar-price-index","66","HT","Huobi Token","\n\n\n\n ","/huobi-token-ht-price-index","EGLD","Elrond","\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n ","/elrond-egld-price-index","APE","ApeCoin","\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n \n","/apecoin-ape-price-index","GMT","STEPN","\n\n\n\n\n\n\n\n\n \n\n ","/stepn-gmt-price-index","70","ICP","Internet Computer","\n\n\n\n\n\n\n \n\n\n\n\n \n\n\n\n \n\n \n\n\n ","/internet-computer-icp-price-index","56","SHIB","Shiba Inu","\n\n\n\n\n\n\n\n\n\n \n","/shiba-inu-price-index","2.78 b","16.00 m","3.00 b","6.58 b","2.70 b","7.27 b","0.94","46","es.cointelegraph.com","87785",7,95,19063125,"19.06 m",121112285.999,"121.11 m",70472220.73347135,"70.47 m",163276974.63,"163.28 m",522923004.5191158,"522.92 m",99989535142,"99.99 b",19086293.6466511,"19.09 m",18132547.39744472,"18.13 m",10771234.80256844,"10.77 m",1056917485.3627,108489952,"108.49 m",12528907.02557252,"12.53 m",33402803630.473923,"33.40 b",99241947122,"99.24 b",50001787755.99735,"50.00 b",72430549552.519,"72.43 b",2779530283.277761,977631.0369508882,"977.63 k",19082576.64423905,"19.08 m",134769026383.70523,"134.77 b",133878885.65572993,"133.88 m",919148803.331404,"919.15 m",8999999999,"9.00 b",53845708216.614685,"53.85 b",30263013692,"30.26 b",298043508.443608,"298.04 m",935667239.9,"935.67 m",36666,"36.67 k",10000000000,"10.00 b",1201456839.178282,"1.20 b",10000000,"10.00 m",16000000,242597508.22299865,"242.60 m",271038968.7064486,"271.04 m",150497810.88196886,"150.50 m","1.73 b",85985041177,"85.99 b",405042434.4395012,"405.04 m",3000000000,2193651627.3201466,"2.19 b",270000000,"270.00 m",6582839695.864539,315681038.0859715,"315.68 m",707659926.3711729,"707.66 m",2703624210.07233,7272675929.728679,21084766583.33856,"21.08 b",207350657.2544121,"207.35 m",23809984,"23.81 m",5866860525.90426,"5.87 b",482658339.8827785,"482.66 m",589673037656297.9,"589.67 t","0.93","0.28",12,"en.LanguageType.2","87810","87808",8,"side","youtube",165,"1.45 m","9.09 m","3.24 m",29322425.734617613,"29.32 m","0.99","0.38","0.39","5","87803",22,"/tags/adoption",20,30,"/category/market-analysis","Market Analysis","nexo-button",25,"Large devices"," 1200px","Medium devices"," 992px","Small tablets"," 768px","Smartphones"," 480px","Extra small devices","

BuyBitcoinsWithUsdEur