Author: Staff Writer
Two of the largest shareholders in Dunamu, the operator of South Korea’s dominant cryptocurrency exchange, are the first two people in the country from the crypto industry to become billionaires as the value of their startup skyrocketed 21-fold in less than a year. Last week, Hybe, the agency behind K-pop sensation BTS, bought a 2.5% stake in Dunamu for 500 billion won (about $400 million), valuing the crypto startup at $17 billion. The new valuation makes Dunamu one of the highest-valued startups in Korea, and its founder and chairman, Song Chi-Hyung, and executive vice president Kim Hyoung-nyon new billionaires. Forbes…
B2C2, a crypto liquidity provider and over-the-counter trader, said Wednesday it conducted its first transaction of a non-deliverable forward (NDF) – a type of financial contract that’s common in foreign-exchange markets – with trading firm QCP Capital. These types of trades could help traditional financial institutions to enter the burgeoning cryptocurrency market, according to the press release from London-based B2C2 and Singapore-based QCP. “Unlike a deliverable forward, an NDF provides exposure to the underlying asset without the need to take physical delivery,” the companies said. The underlying asset in the transaction was bitcoin (BTC), denominated in U.S. dollars. The amount…
A collaboration between cryptocurrency platform Coinhako and Appetite, an art and culinary concept, has led to an exhibition of digital art that includes works by Andy Warhol, Beeple and Sarah Meyohas. The exhibition, “Right Click + Save,” explores the history and visual cultures of crypto communities, and features early artistic explorations around cryptocurrencies. It’s curated by Clara Che Wei Peh, the art lead at Appetite — a multi-concept space and research center led by Ivan Brehm, the chef/owner of Michelin-starred restaurant Nouri. Works featured include Robert Alice’s Portraits of a Mind (2019), Andy Warhol’s Untitled (Flower) (circa 1985; minted 2021),…
Bitcoin hit another record high and is flirting with $69,000 for the first time after inflation data bolstered the argument that the cryptocurrency is a hedge against rising cost pressures. The largest digital asset by market value rose as much as 1.9% to $68,991 on Wednesday, topping the previous high set late Monday in New York trading. Other coins also rose, with the Bloomberg Galaxy Crypto Index — which tracks major cryptos — gaining as much as 2.4% to its highest level since May. The rise in the token can, at least partly, be explained through the fundamental argument –…
If you’re looking to start trading cryptocurrency you’ve likely come across Coinbase. One of the largest cryptocurrency exchanges in the U.S., Coinbase is a place to buy, sell and hold digital currencies like Bitcoin and Ethereum. Now that cryptocurrency is going more mainstream, there are several ways to buy and sell coins on your own, whether it be via Venmo, Cash App or a trading app like Robinhood. But Coinbase is a popular option, touting 73 million verified users. The company made its public debut in April of 2021, which many saw as a vote of confidence for digital currencies…
Shiba Inu is no longer an unknown cryptocurrency in the crypto space. It has grown to be one of the top and most popular coins in the market despite having no utility to speak of. This has however not deterred the community support for the meme coin. Sitting at 11th place on the list of top coins by market cap, it can no longer be said that SHIB is a ‘worthless’ coin. Shiba Inu also has arguably the largest supply of any of the top cryptocurrencies, with a total supply of over 589 trillion and a circulating supply of more…
“It’s actually a lot simpler than you think.” It’s a Tuesday afternoon, and somewhat to my surprise, I’m on the phone to Paris Hilton, who is graciously explaining the world of NFTs. Hilton is many things – a reality star, an heiress, an unlikely lockdown fitness guru who uses designer handbags instead of weights. But until now, she has never been considered a significant player in the art world. When artists have acknowledged her, often they’ve done so to fetishise her image. In 2008, Damien Hirst bought a portrait of her by the artist Jonathan Yeo, in which her body…
New York City’s soon-to-be mayor doesn’t want his first paychecks in dollars. He wants Bitcoin. Mayor-elect Eric Adams tweeted Thursday that he is going to take his first three paychecks on the new job in Bitcoin. “NYC is going to be the center of the cryptocurrency industry and other fast-growing, innovative industries! Just wait!” he added. The statement is the latest episode in the “friendly competition” between Adams and Miami’s freshly reelected Mayor Francis Suarez over which big city will be the crypto capital of the U.S. Adam’s tweet was in response to one from Suarez earlier this week that…
On a rainy day in Palo Alto in March, Rebecca and Peter Kacherginsky stood before family, friends and a few dozen guests on Zoom as they exchanged wedding vows. COVID-19 accommodations aside, the ceremony was traditional. The bride wore a veil; the groom wore a kippah; neither could stop smiling. Then things took a very 2021 turn. Juggling her bouquet in one hand and iPhone in the other, Rebecca opened a virtual wallet and sent Peter a non-fungible token, or NFT. He did the same. Using an Ethereum smart contract Peter wrote himself, the couple exchanged unique digital signifiers containing…
Cryptocurrency fans may soon be able to have their paychecks directly deposited to Coinbase, one of the largest and most popular crypto exchanges. And their pay can be automatically deposited as Bitcoin or another cryptocurrency. In a blog post on Monday, Coinbase senior director of product Prakash Hariramani announced that the direct deposit option will be rolling out in the U.S. over the next few weeks. Customers have been telling Coinbase “that making frequent transfers is time-consuming and inconvenient,” Hariramani wrote. By introducing direct deposit, crypto investors can save the time and hassle involved in transferring funds between Coinbase and…