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A Bizarre Legal Battle Over Why McDonald’s McFlurry Machines Are Always Broken Is Underway
The curious phenomena of why McDonald’s McFlurry machines are always broken is at the center of a legal battle between the company that makes the machines and a tech company that is trying to fix them. In May, a lawsuit was filed against the machine’s manufacturer, Taylor, by a tech company called Kytch, which created a digital tool specifically for diagnosing and fixing the system issues of soft serve ice cream machines. Kytch’s creators first revealed to Wired that they were planning to file legal action in April. Recently, a judge awarded Kytch with a temporary restraining order against Taylor following a list of allegations, including that Taylor had tried to obtain a Kytch device in order to learn its trade secrets, told McDonald’s franchisees that Kytch machines were dangerous and th...
Coinbase’s capital markets head reportedly leaves company
Brett Redfearn, the former director of the division of trading and markets at the United States Securities and Exchange Commission (SEC), has reportedly left his position at Coinbase after less than five months. According to a Wall Street Journal report, Redfearn resigned as the head of Coinbase’s capital-markets group at the end of July. People familiar with the matter claimed his departure was due to the crypto exchange shifting its priorities away from digital asset securities. During his time at Coinbase, Redfearn was responsible for the crypto exchange’s strategy for crypto capital markets, including digital asset securities. The U.S.-based crypto exchange has hired a number of individuals formerly involved with the government prior to and following its initial public offering in Apri...
Price analysis 8/9: BTC, ETH, BNB, ADA, XRP, DOGE, DOT, UNI, BCH, LINK
Bitcoin’s (BTC) recovery from $29,482.61 on July 21 has continued to surpass one resistance after another. Today, Bitcoin has risen above the 200-day simple moving average, an indicator watched by institutional investors to determine whether the asset is bullish or bearish. A positive sign about today’s rally has been that Bitcoin was not affected by the flash crash in gold, which momentarily dipped to a four-month low. This suggests that traders are focusing on the fundamentals of the sector and are not affected by the performance of other asset classes. Daily cryptocurrency market performance. Source: Coin360 Glassnode noted that investors holding Bitcoin for more than a year have not dumped their positions after the recent rally to $45,000. This is in contrast to the 2018 bear market “w...
‘We’ll be back on this’ — Alabama senator derails crypto amendment with two words
A compromise which proposed amending provisions in the bipartisan infrastructure deal on crypto failed to meet the requirements of a unanimous consent request in the Senate, making the bill likely to go to a full vote without additional changes. This afternoon, Senator Tom Carper, the Democratic floor manager for infrastructure bill HR 3684, put forth the compromise amendment agreed upon earlier today by Senators Pat Toomey, Cynthia Lummis, Rob Portman, Mark Warner, Kyrsten Sinema and Ron Wyden on providing clarity for what defines a crypto broker. However, Alabama Senator Richard Shelby objected when Carper did not agree to add Shelby’s own unrelated amendment to the bill — a proposal which would add $50 billion in defense funding. In just two words — “I object” — the Alabama lawmake...
Digital asset exchange Blocktrade concludes $25M investment round
Luxembourg-based Blocktrade has become the latest cryptocurrency exchange to receive major backing from venture capitalists, offering further evidence that digital asset startups are becoming a prime target for investment funds. Private investors across 33 countries participated in the $25.8 million, or 22 million euros, Series A round, Blocktrade announced early Tuesday in Europe. The investors were not disclosed. Blocktrade said the funding will go towards improving internal operations, especially in the areas of security, fiat onramps and market-making. The company also said it would allocate more resources to growing its potential user base, as well as pursue other business partnerships. “Blocktrade is more than a classic crypto exchange: we are building a complete ecosystem arou...
Poloniex settles charges with SEC for operating unregistered exchange
The United States Securities and Exchange Commission, or SEC, has charged crypto exchange platform Poloniex for breaching securities trading regulations. According to an announcement by the SEC on Monday, Poloniex offered trading of cryptocurrencies deemed securities to U.S. investors on its platform between July 2017 and November 2019 without duly registering as a securities broker in violation of Section 5 of the Exchange Act. The SEC’s indictment also stated that employees of the exchange actively sought to circumvent securities regulation in a bid to increase the company’s market share. According to the Commission’s enforcement chief Kristina Littman: “Poloniex chose increased profits over compliance with the federal securities laws by including digital asset securities on its unregist...
Deutsche Telekom to store Celo tokens on Coinbase Custody
Coinbase Custody, the crypto custodial solution offered by United States exchange giant Coinbase, has been chosen by Deutsche Telekom to store its Celo tokens. According to a release issued on Monday, the telecoms giant identified the robust security protocols offered by Coinbase Custody as a major reason for choosing the service. Deutsche Telekom invested in Celo back in April, becoming the first telecom member of the Celo Alliance for Prosperity. Apart from making a “significant purchase” of Celo tokens, Deutsche Telekom’s T-Systems MMS subsidiary also became a validator on the mobile decentralized finance Celo network. As previously reported by Cointelegraph, United States-based venture capital behemoth Andreessen Horowitz, aka a16z, delegated its Celo assets to T-Systems MMS. At the ti...
Blockchain-based digital art installation to launch on Vancouver bridge
Canadian public art exhibition organization Vancouver Biennale is preparing to unveil an art installation that combines physical and digital realities withblockchain technology. Located on the south side of the Cambie Street Bridge in Vancouver, the new Voxel Bridge installation is a blockchain-based augmented reality (AR) experience that can be viewed with iOS or Android devices. According to local enthusiasts, the installation is getting ready for the public launch this Tuesday and will run until spring 2023. The art object is a 1,800 square meter installation by New York-based artist Jessica Angel that explores how public space can be constructed and utilized in both digital and physical realities. Shaped in the real world in the form of a massive two-dimensional vinyl mural, the piece ...
Bitcoin ‘awaiting second leg of bull market’ as BTC price hits $46K 3-month highs
Bitcoin (BTC) hit $46,000 on Aug. 9 as macro factors failed to dent enthusiasm after 18% weekly gains. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading above $45,500 at the time of writing Monday. After reaching local highs overnight, Bitcoin saw a comedown as the new week began, but this quickly U-turned to produce a three-month peak of $46,090. With a correction yet to kick in, analysts were firmly bullish on coming moves for BTC/USD. Among them was PlanB, creator of the stock-to-flow BTC price model. “Bitcoin at $46K,” he summarized to Twitter followers alongside a chart of price performance after each block subsidy halving event. “We are 16 months after the halving (red line), awaiting the second...
Strictly Discs in Wisconsin, in a Pandemic: Delta ‘Just the Beginning’ If Vaccinations Don’t Improve
How was Record Store Day? Much, much better than June. That wouldn’t take a whole lot, but it went smoothly. There were very few hiccups. There were a couple of titles from June that were bumped to July that the distributor missed, but I caught that early enough thanks to some of my coalition friends who I quickly asked, “Do have these titles?” And they all resoundingly answered yes, and so I realized I had a problem and they were able to fix it. So that was good. And compared to June, it was a minor blip. It sounds like everything went really well. Were you able to do sort of the full enchilada, in the sense of offering all the fun stuff for people waiting in line? For both the June and July date we poured beer and we had either doughnuts or bacon outside, so that was de...
‘Get scared’: World’s scientists say disastrous climate change is here
“They’re really the first kind of signs of this new climate condition,” Alexander Ruane, a research physical scientist at the NASA Goddard Institute for Space Studies and a report author, said in an interview. “And I wish I could say that there is a new normal that is a decade away, but of course, it will be continuing to change until some kind of climate policy disrupts the emissions.” While critics have for decades complained that the climate warnings lacked details about how to prepare for catastrophic change, the new report highlights the increased precision, particularly in scientists’ understanding of the behavior of clouds, that allows them to narrow considerably the range of possible futures, said Piers Forster, a climate physics professor at the University of Leeds. That mea...
Ukraine’s digital assets bill could make crypto payments legal
While cryptocurrencies might not be legal tender, payments with them could soon be legal in Ukraine The Ukrainian government is working on a bill that could make cryptocurrency payments legal in the country. However, the bill doesn’t imply that cryptocurrencies would become legal tender in Ukraine. Deputy Minister of Ukraine’s Ministry of Digital Transformation, Oleksandr Bornyakov, has submitted a bill that is designed to make cryptocurrency payments legal in the country. The minister is confident that crypto payments could be legal via payment intermediaries that support crypto-to-fiat conversions. However, he clarified that Ukraine’s draft bill on virtual assets doesn’t make cryptocurrencies legal tender. Instead, it only allows them to be used to pay for services and products. Local pa...
