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Kimbal Musk, the billionaire brother of Tesla chief Elon Musk, is creating a crypto collective — like the one that attempted to purchase the US Constitution — called Big Green DAO. The new DAO, short-hand for decentralized autonomous organization, is hoping to disrupt the philanthropic world and create food justice, according to its website. And Ark Invest’s Cathie Wood is a contributor. “I’ve decided to run an experiment to decentralize philanthropy. This #GivingTuesday I’m launching the first Giving DAO,” Kimbal wrote in a tweet. He is the chief executive officer of Big Green, a nonprofit organization that focuses on teaching people how to grow food, and also…
Michael Cohen, who was Donald Trump’s personal attorney for more than a decade, is getting into the booming NFT market by selling digital representations of the badge he wore in federal prison while serving time for tax evasion and other crimes. A statement about Cohen’s venture into the world of nonfungible tokens arrived a little more than a week after Cohen was officially released from his three-year prison sentence. Cohen is working with ArtGrails, an NFT platform that will host his auction. Cohen’s collection will include a set of NFTs of his badge from Otisville Prison in New York. The badge NFTs will…
Croatia’s largest food retailer, Konzum, said on Wednesday that from this month it had introduced an option of paying with cryptocurrencies in its online shops to be the first local retailer offering the payment service. Konzum is part of the Fortenova Grupa which is the biggest food producer and retailer in the Balkan region. “Paying with cryptocurrencies is currently possible in our online shops, but soon we plan to introduce it in other shops across the country,” Konzum said in a statement. Konzum, whose shops are also frequented by many foreign tourists visiting Croatia, offers the possibility of payment in…
Bitcoin prices have repeatedly approached $60,000 over the last week, climbing above $59,000 both yesterday and today. The world’s most valuable digital currency by market value has made these attempts on the $60,000 level after reaching an all-time high of nearly $69,000 on November 10 and subsequently falling more than 20% from this zenith, CoinDesk data shows. The cryptocurrency repeatedly tested the $53,000 level between November 26 and November 28, additional CoinDesk figures reveal. Then, it rose in value, reaching $58,890.73 on November 29, $59,223.38 on November 30 and $59,096.88 today. In light of these recent events, several technical analysts weighed in…
Afterpay Ltd (APT.AX) will delay a shareholder meet to approve Square Inc’s (SQ.N) $29-billion buyout of the Australian buy now, pay later leader, as the Jack Dorsey-led payment company awaits regulatory nod in Spain. The investor meet was set for Dec. 6, but Afterpay said it would likely take place next year as Square, which has rebranded itself to Block Inc, is likely to get an approval from the Bank of Spain only in mid-January. The delay is unlikely to impact the completion of Australia’s biggest deal, which is set for the first quarter of 2022, Afterpay said. “We continue to believe the risks of the…
In commemoration of the UAE’s 50th National Day, Emirates Post Group (EPG) said it has become the first in the region to issue non-fungible token (NFT) stamps. EPG is set to unveil this new generation of stamps on December 2 (National Day) with four distinct NFT stamps to coincide with the celebration of the nation’s Golden Jubilee. These innovative NFT stamps will have a digital twin in the blockchain system and will be sold as digital collectibles linked to its physical stamp counterpart. NFT enthusiasts will be able to collect, exchange and trade the NFT stamps, which promote the story…
It wasn’t their dog-walking business, or the food stand, or their decision to drop out of college that ended up saving the Lopez twins’ parents from financial ruin when the two mortgages on their home became too much. It was Penelope and America Lopez’s investments in cryptocurrency that eventually allowed them to pay off one of those mortgages. Then when the pandemic hit and both parents lost their jobs, the sisters stepped in again to help. “It was our rock bed of financial investments that we made the past couple of years that helped us get through both crises,” America…
The CEOs of several major cryptocurrency companies and foundations will testify before the House Financial Services Committee on Dec. 8 at 10 a.m., Democratic Chairwoman Maxine Waters of California announced Wednesday. The hearing, titled “digital assets and the future of finance” will explore the “challenges and benefits” of cryptocurrency innovations in the U.S., according to a press release. Witnesses will include Jeremy Allaire, CEO of Circle, issuer of the stablecoin USD Coin, Sam Bankman-Fried, CEO of crypto exchange FTX, Brian Brooks, former acting comptroller of the currency and CEO of Bitfury, Chad Cascarilla, CEO of Paxos, Danelle Dixon, CEO of Steller XLMUSD Development…
Social media and metaverse marketplace Meta has expanded eligibility requirements for running cryptocurrency advertisements on Facebook, giving companies more leeway to market digital asset product offerings. Meta announced Wednesday that, effective immediately, it will recognize 27 regulatory licenses from advertisers, up from just three previously. This means many more applications for running cryptocurrency ads will be accepted. The changes are reflected in section 10 of Facebook’s updated advertising policy titled, “Cryptocurrency Products and Services.” Before the update, only a narrow segment of crypto companies was able to advertise on Facebook because the platform recognized a small number of regulatory licenses.…
State banking officials have issued a cease-and-desist order against a crypto-mining investment company after it took $725,000 from a Nebraska investor and her mother. The order bars Satitech Mining and Machinery, an online company, from offering or selling securities in Nebraska until the securities are registered with the Nebraska Department of Banking and Finance and company officials are registered as broker-dealers or broker-dealer agents under state law. The order took effect Nov. 10. Department officials were alerted to the situation under a new state law aiming to protect elderly Nebraskans and other vulnerable adults from financial exploitation. The law, passed…