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Cryptocurrency exchange Kraken will support the popular, Ethereum-based memecoin Shiba Inu (SHIB), which is expected to begin trading tomorrow, the company said in a blog post on its website Monday. The announcement comes less than a month after Kraken failed to fulfill a promise in listing SHIB after its crypto platform product lead Brian Hoffman issued a Twitter “likes” challenge. Following an uproar among SHIB supporters, the company said that there was “more work” to do as it moved through its token listing review process. Kraken said Monday that the minimum, required deposit is 373,000 SHIB, and that the coin…
Twitter Inc. TWTR -1.83% said Monday that Chief Executive Officer Jack Dorsey is stepping down, a departure that comes a year after he withstood a challenge from activist investors. The Twitter co-founder, one of the most prominent figures in Silicon Valley, is also CEO of digital payments company Square Inc. While his split duties and personal eccentricities have long drawn criticism, many employees have hailed him as a stabilizing force within the social-media company since he returned the CEO role in 2015. “I’ve decided to leave Twitter because I believe the company is ready to move on from its founders,” Mr. Dorsey said in a…
Auction house Bonhams said on Monday it was selling the world’s first non-fungible tokens (NFTs) for ballet, with Russian dancer Natalia Osipova in the starring role. The NFTs feature three video performances by Osipova, principal dancer at London’s Royal Ballet. Two are from the classic “Giselle”, while the third is from “Left behind”, a contemporary dance she has performed with her partner Jason Kittelberger. Osipova and her partner wanted to use some of the funds to set up a ballet company, Bonhams head of digital art, Nima Sagharchi, said during a preview of the works. “Performing artists up till now have had…
MicroStrategy Inc. founder and Chief Executive Officer Michael Saylor has cemented the enterprise-software company’s position as the largest corporate owner of Bitcoin, saying it purchased $414 million more of the largest cryptocurrency during its recent swoon. The Tysons Corner, Virginia-based company, which has been buying Bitcoin since August 2020, now holds 121,044 tokens valued at about $7 billion, after accounting for its October and November purchases. And if the price of Bitcoin continues to recover losses posted over the Thanksgiving holiday, MicroStrategy will have doubled its money gains based on the average purchase price paid since the initial acquisition. https://twitter.com/saylor/status/1465305537210458115?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1465305537210458115%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.bloomberg.com%2Fnews%2Farticles%2F2021-11-29%2Fmicrostrategy-s-bitcoin-stake-has-doubled-in-value-to-7-billion…
The primary markets for crypto-related fundraising rounds are as hot as ever, with the rise of layer one “Ethereum competitors” leading to a massive influx of new infrastructure concerns that projects are trying to solve. Solana, out of all the layer one projects, has perhaps seen the most meteoric growth throughout 2021, offering users cheap and fast transactions as well as a host of lucrative liquidity opportunities and on-chain products for users to tap into. Solana has had its fair share of growing pains, however, and some have yet to be solved. One such problem is relating to the network’s…
Binance CEO Changpeng Zhao (often referred to as CZ), runs the world’s largest crypto exchange. He is a billionaire, valued at $1.9 billion, ranked number 5 on Forbes’ Crypto Rich List, and one of the most followed and influential members of the industry. He is also a controversial figure mostly due to Binance’s arms-length approach to regulation. For years CZ claimed that Binance had no headquarters, as a nod to Bitcoin’s decentralized nature. However, as the industry has grown and brought regulatory attention along with it, CZ is now changing his tune and actively embracing licensing and regulators. It remains…
Recent commentary and discussions around the roles, opportunities, and challenges connected to stablecoins have made headlines both in the United States and other markets. As part of the response to these discussions, over 100 nations the world over have rapidly become very interested in developing a state-backed cryptoasset, commonly referred to as a central bank digital currency (CBDC). Setting aside the very strong opinions and positions that have been staked out by proponents of (CBDC) there are several pros and cons that can be stated on an objective basis. Pros and positives associated with this idea include 1) having the backing and legitimacy…
Most investors wouldn’t be surprised to find Bitcoin in an exchange-traded fund like FOMO, which, as its name and ticker suggest, stands for “fear of missing out.” FOMO’s manager, Matthew Tuttle, analyzes Twitter influencers’ remarks to see what’s popular, and Bitcoin, which has gone up 226% in the past 12 months (though it has sagged lately), definitely fits that bill. Much has been written about new ETFs that buy Bitcoin futures, such as ProShares Bitcoin Strategy (ticker: BITO), which launched in October and already has $1.3 billion. And there are exchange-traded products that buy Bitcoin directly through vehicles such as…
PRESS RELESE: Aptly dubbed the “Queen of Thanksgiving” by Time Magazine, world renowned business and cultural icon Martha Stewart will launch her second collection of non-fungible tokens (NFTs) on her NFT boutique MarthaFRESHMint.com. This officially licensed, Thanksgiving-themed collection is produced in collaboration with Tokns Commerce, the leading licensee and NFT solutions provider for iconic brands and world-class creators. Adding to a long list of “Martha Firsts,” Martha Stewart is innovating yet again, producing the first-ever “Storytelling NFT.” This novel NFT format features an audio recording of Martha sharing her earliest Thanksgiving memories and recounting the story of her first, disastrous,…
Su Zhu, CEO of Singapore-based hedge fund Three Arrows Capital Ltd, has ‘abandoned’ Ethereum due to its high gas fees. The notorious transaction charges of the cryptocurrency have long-been an issue with its users and Zhu publicly criticised Ethereum ‘for giving up on their community’. Zhu professed to be a supporter of the cryptocurrency but now admits that support has ‘become untenable’. The 34-year-old crypto billionaire took to Twitter in what was a scathing rant, as he also accused Ethereum of suffering from ‘founder’s dilemma’ and forgetting what its initial mission was when entering the cryptocurrency world. https://twitter.com/zhusu/status/1462216210116853762?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1462216210116853762%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Felevenews.com%2F2021%2F11%2F21%2Fcrypto-billionaire-abandons-ethereum-heres-why%2F “Ethereum culture suffers massively…