Crypto
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Record label CEO explains how music NFTs are set to revolutionize the industry
Music-based nonfungible tokens are an emerging frontier in the crypto and NFT space, but the first questions that come to mind are: What are they? And what are their utility? Music NFTs are relatively new to the scene and cannot be pinned down by one definition. At the most basic level, however, they are verifiable digital collectibles, with a core component being the integration of a song. One of the first collections was “Audioglyphs,” which cemented itself as revolutionizing the way users consume music, synthesizing an infinite stream of audio for each NFT. Creators and investors began to discover the novelty of music NFTs, as they lessened the barriers of access to artists and consumers. Electronic DJ and NFT collector 3LAU made history selling his record-breaking album Ultraviolet for...
Puma registers ENS domain, changes name to Puma.eth on Twitter
Puma is the latest in a growing list of major brands to purchase a decentralized URL and reveal their nonfungible token, or NFT, by changing their Twitter handle to Puma.eth. The German sportswear brand registered the domain name with the Ethereum Name Service, or ENS. welcome PUMA.eth (@PUMA) https://t.co/BuPplzfJgR — ens.eth (@ensdomains) February 21, 2022 Other major companies with .ETH domains include Budweiser, the subsidiary of Anheuser-Busch InBev, which bought Beer.eth through ENS on OpenSea for 30 ETH last year. And when the fast-food chain White Castle registered whitecastleofficial.eth, ENS’ former director of operations even tweeted about his excitement. All .ETH names are NFTs that can be “easily plugged-in to the ever-expanding NFT ecosystem,” as an...
Journalist alleges Mimo Capital co-founder was behind 2016 exploit of The Dao: Report
Laura Shin, a cryptocurrency journalist and host of the Unchained Podcast, claimed to have discovered the identity of the individual behind an exploit which drained more than 3.6 million Ether from Germany-based startup Slock.it’s The DAO in 2016. According to a Tuesday Bloomberg report, Shin claimed that she had “extremely strong evidence” that Mimo Capital co-founder Toby Hoenisch was responsible for removing more than 3.6 million Ether (ETH) from The DAO in June 2016 — roughly $50 million at the time. An unknown hacker used an exploit to drain roughly a third of The DAO’s ETH supply, forcing developers to hard fork the network and leaving the illicit funds in what became the Ethereum Classic (ETC) blockchain. EXCLUSIVE: With the publication of my book today, I can finally announce: in t...
Market crash sees ADA fall to a multi-month low, DOT and AVAX drop out of the top ten
The price of Cardano’s native token ADA sank to $0.82 after enduring more losses today Binance USD has moved to 9th in market capital, displacing Avalanche and Polkadot that have suffered heavy losses today Cryptocurrencies are trading in the red on Tuesday as the bloodbath persists on account of the growing tensions between Russia-Ukraine. Market data shows that only Terra’s LUNA has registered a green candle in the last few hours. Bitcoin dropped below $36,500 earlier today for the first time since 4th February, setting a multi-week low of $36,488 as per CoinMarketCap. Though the OG cryptocurrency has since steadily climbed back to $37,600 as of writing, it is still down 2.85% in the last 24 hours. The current Bitcoin price means it has shed almost 14% in one week. Ether has ...
UK law firm Gunnercooke starts accepting crypto payments for legal services
Gunnercooke says one of its clients, Attestant, has already paid up for services in Ether Crypto adoption will also favour partners at the firm who would prefer getting paid in alternative methods As mainstream crypto adoption continues rising, more industries and sectors are trying their bit to incorporate these digital assets. In the US, a number of legal firms have been accepting crypto for a while now, including Steptoe & Johnson, Perkins Coie, Frost Brown Todd, McLaughlin & Stern, and Quinn Emanuel Urquhart & Sullivan. In the UK, law firm Gunnercooke revealed yesterday that it started accepting crypto payments in Bitcoin and Ether. The move, Gunnercooke said, made it the first among major firms in the country to do so. In taking legal fees in crypto, the firm intends to su...
Bitpanda acquires London-based crypto custodian Trustology
This is the first acquisition deal for the crypto exchange headquartered in Vienna The exchange views the acquisition as a step toward its goal of debuting a Prime Brokerage service Austrian cryptocurrency exchange Bitpanda has completed an acquisition deal for institutional-grade DeFi custodian wallet provider Trustology. Neither party revealed the specifics, but according to a source familiar with the developments, the deal is in the range of eight figures in US dollars. This is the first acquisition the exchange has completed and represents a stride towards unveiling brokerage services under the Bitpanda Pro platform. “The introduction of Bitpanda Custody is the first step in launching a Prime Brokerage offering under Bitpanda Pro to go alongside the regulated digital asset ...
Tourism in El Salvador up 30% since Bitcoin adoption, minister says
El Salvador’s adoption of Bitcoin (BTC) as legal tender in September 2021 has triggered a notable surge not only for its gross domestic product (GDP) but also for the local tourism development. According to Salvadoran Tourism Minister Morena Valdez, the tourism industry in El Salvador has surged more than 30% since the adoption of the Bitcoin law in September 2021. “We did a poll to check the activity according to the before and after of Bitcoin. The tourism sector increased in November and December. This increased by more than 30%,” Valdez said in an interview with the local news agency El Salvador News English on Monday. Boom! El Salvador’s tourism has grown by 30% since the Bitcoin Lawhttps://t.co/i8t6JRHD1a#ElSalvador #BitcoinLaw #bitcoin #bitcoininvestment #Abtc #tourism #BitcoinCity ...
Bitcoin Mayer Multiple returns to July 2021 levels in fresh sign $37K BTC is a long-term buy
Bitcoin (BTC) has dipped enough for one of its best-known indicators to signal a rare long-term investment opportunity is here. As of Feb. 22, the Mayer Multiple is sitting at its lowest level since Bitcoin bounced at $29,000 in July last year. Mayer Multiple down 50% in 3 months The latest in a series of metrics to echo the pit of the 2021 retracement on BTC/USD, the Mayer Multiple currently measures 0.76, having halved since November’s $69,000 all-time high. The Multiple measures Bitcoin’s current price against its 200-day moving average. Its creator, Trace Mayer, believes that any reading below 2.4 offers an increasingly profitable trade for potential investors, and the lower the score, the more likely a long-term buy-in will turn out to be effective. For context, the Multip...
1Password integrates security API into Phantom Wallet
Digital security service 1Password has announced a collaborative partnership with Phantom Wallet to enable asset holders to amalgamate their vast accumulations of public key addresses, seed phrases and other corresponding security details into a single ‘Save in 1Password’ system. Operating primarily in the traditional financial sector at this time, 1Password has over 100,000 corporate clients from a panoply of industries, including well-recognized brands like IBM, Slack, Shopify and Under Armour. The application programming interface (API) of 1Password aims to simplify the user experience, enable asset sovereignty and assign portfolio responsibility to help investors sufficiently manage their cryptocurrencies and nonfungible tokens (NFTs) held on the Solana blockchain. A centralized entity...
Year 1602 revisited: Are DAOs the new corporate paradigm?
In 1602, the Dutch East India Company was formed in what many consider the world’s first initial public offering — allowing perfect strangers to share in stock ownership. Four centuries later, the joint-stock model — especially its incarnation as the modern business “corporation” — sets the pace for much of the economic world. But, decentralized autonomous organizations, or DAOs, could soon disrupt the joint-stock capitalized business model, much as the Dutch East India supplanted the limited partnerships of its day — or so some may say. “DAOs are the new limited liability companies (LLCs),” says DAO investor Cooper Turley of these leaderless internet-native entities where key decisions are typically made by consensus. “In five years, companies won’t have equity anymore. They’ll have token...
Amber Group completes $200M Series B+ funding round featuring Temasek Holdings
Amber Group extended its Series B funding as a special effort to bring Temasek around the investors’ table The raised funds will support global expansion and grow its OpenVerse and WhaleFin products According to a press release shared on Monday, leading digital asset platform, Amber Group confirmed that it had completed a $200 million Series B+ funding round led by Singapore-based investment firm Temasek Holdings. The raise also saw participation from other investors, including Tiger Global Management, Sequoia China, Coinbase Ventures, and Pantera Capital. The round’s completion at a $3 billion valuation represents three times as large as the valuation the firm reached in June 2021, the last time when capital was raised. It also brings the sum raised by Amber Group since its in...
Glassnode theorises an extended BTC bear market, points to on-chain metrics
Analytics firm Glassnode says sizeable investor losses and recency bias are likely to sustain a prolonged bear market Despite the currently unimposing number of daily active users, Glassnode notes that long term hodlers are increasing linearly in the long term In its February 21 newsletter, blockchain data and intelligence provider Glassnode has suggested that Bitcoin investors are seeing a significantly growing number of motivations to sell their holdings. As volatility pushed Bitcoin to either side of the $40k psychological support last week, it peaked close to $45k but eventually closed nearer $38k. The blockchain analytics firm observed that external factors, including anticipation of the Fed’s March meeting and geopolitical issues globally, are cause for the dwindling price leve...
