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China has convinced financial policy makers everywhere of its resolve to create a digital version of its currency, even helping to spur the Federal Reserve to study developing an electronic version of the dollar. The tougher battle might be persuading China’s consumers that they need the digital yuan, known officially as e-CNY. Policy makers the world over are watching China’s progression for signs of how digitized money might replace cash. An organization of central banks, the Bank for International Settlements, has said that most monetary authorities are considering similar moves, though none has tested an official digital currency on the scale…
Tesla TSLA +0.7% billionaire Elon Musk, a controversial figure among the cryptocurrency community, has once again endorsed the somewhat satirical bitcoin rival dogecoin—sending its price slightly higher. The price of bitcoin, ethereum and other major cryptocurrencies are meanwhile struggling, with the bitcoin price failing to regain ground over $60,000 per bitcoin and ethereum’s ether dropping back from around its all-time highs. Musk said via Twitter that web3—the idea that a decentralized version of the internet that some think could use crypto technology will eventually replace the Silicon Valley-centric web 2.0—”sounds like BS” and flagged dogecoin in a reply to a report that high…
The growth of online virtual worlds will help advance the mainstream adoption of cryptocurrencies for payment transactions but it won’t be a game-changer, according to Frédéric Chesnais, chief executive of French fintech company Crypto Blockchain Industries. In blockchain-based 3D virtual worlds, often referred to as metaverses, users can purchase and trade virtual assets and services using cryptocurrencies. Some analysts have argued the growing popularity of metaverses will drive an explosion in digital tokens. “I think it will be important but I don’t think this is the key turning point,” Chesnais, who was until earlier this year the CEO of videogame…
A Cryptocurrency enthusiast has named his son Cardano, after the popular blockchain platform to show his support for the cryptocurrency touted as the ‘Ethereum killer’. Currently, ADA, the cryptocurrency based on the Cardano blockchain, is trading at $1.54. The Cardano fan used his Twitter handle @Brunokarno1 to announce he had named his first son after the popular blockchain platform to show his support and love for the burgeoning project. https://twitter.com/IOHK_Charles/status/1465049363210772486?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1465049363210772486%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.cnbctv18.com%2Fcryptocurrency%2Fcryptocurrency-enthusiast-names-son-cardano-report-11676672.htm Charles Hoskinson, the co-founder of the Cardano project, welcomed the baby. He took to Twitter and said, “Welcome baby Cardano to the world.” Cardano’s price has been on a rollercoaster,…
Non-fungible tokens (NFTs) masquerading as holograms, raising funds to save the oceans: It’s happening at this year’s Art Basel Miami Beach. That’s where the Open Earth Foundation, a tech platform for climate action, is holding its OceanDrop NFT sale, following its CarbonDrop NFT sale earlier this year, which raised some $6.6 million. (This year’s Art Basel event in Miami is a de facto crypto conference in light of 2021′s frantic enthusiasm for NFTs.) Open Earth Foundation Executive Director Martin Wainstein says the goal is to use blockchain tech to accurately account for carbon in the atmosphere, as well as realize global agreements…
Hundreds of thousands of fans lined up Tuesday to buy digital collectibles tied to Warner Bros.’s upcoming “The Matrix Resurrections” movie at $50 apiece — and quickly swamped the systems of Nifty’s, the nonfungible tokens (NFT) marketplace hosting the sale, prompting the company to pause the sale. Within an hour of opening the “Matrix” NFT site at 1 p.m. ET Tuesday, Nifty’s halted the purchase queue briefly before restarting it — then paused it again, keeping users in limbo overnight. As of noon ET Wednesday, there were more than 330,000 users waiting in the queue on Nifty’s website for the…
Bitcoin Capital announced today that it has again listed two world firsts on the SIX Swiss Exchange. With 1 FiCAS Active Bitcoin ETP and 1 FiCAS Active Ethereum ETP, the company has launched two products actively managed by the highly experienced crypto asset manager FICAS AG. With active management, the products aim to counter negative price fluctuations and therefore outperform the two largest cryptocurrencies by capitalization. With the listing, institutional, professional, and private investors in Switzerland, Liechtenstein, and the European Union (excluding Hungary) can easily invest in the new products via their bank or broker, just as they do with other listed…
On November 30, crypto firm Blockchain.com announced the acquisition of Argentina-based investment platform Sesocio. According to the company, the acquisition will give the company’s global workforce a global workforce of 400 Blockchain.com employees worldwide. At the end of March, Blockchain.com raised $ 300 million and the company’s valuation reached $ 5.2 billion. In August, Blockchain.com CFO Macrina Kgil explained how the company surpassed $ 1,000 billion in cryptocurrency transactions. Kgil further revealed that the company could go public in 18 months while revealing that Blockchain.com holds BTC and ETH on its balance sheet. The crypto firm, founded in 2011 by…
When presented with two impossible options, sometimes it’s best to just shrug your shoulders and say, “I don’t know.” That’s what a federal jury in the Southern District of Florida did today in the case of Kleiman v. Wright. Jurors told Judge Beth Bloom they “cannot all agree on a verdict on any of the questions” in the fraud trial over a supposed Bitcoin fortune. If the deadlocked jury cannot reach a conclusion after additional deliberations, the judge can declare a mistrial, opening up the possibility that the years-long case will be litigated with fresh jurors. A brief refresher: Craig Wright is…
Here’s a quick conundrum. Does the person paying the mortgage own the house, or is it really the property of the bank? Here’s another one: Do viewers own the rights to digital movies they purchase online? And, finally, who really owns filmmaker Alejandro Jodorowsky’s “Dune Bible”? Is it the DAO (decentralized autonomous organization) that raised $750,000 to bid on it at Christie’s auction house, or the DAO’s co-founder who used his own funds to purchase it separately—and then spearheaded a fundraising drive for other contributors to buy it back from him? That’s the curious question being raised this week by…