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Republicans plan an energy agenda designed to keep Democrats on their heels
In interviews, the people familiar with the Republican priorities say it will keep a focus on voters’ frustrations with gasoline prices, which surged in the past year amid the Russian invasion of Ukraine and the global economy’s rebound from the pandemic. “Whatever big initiatives they have, it’s going to be focused on addressing inflation and energy costs,” said George David Banks, an outside energy adviser to Republicans who was former President Donald Trump’s top international energy adviser. “That’s the smart political move if you are trying to build momentum, and more of a majority the next election and trying to get the White House back.” Biden and Democratic lawmakers such as West Virginia Sen. Joe Manchin are still hoping to pass permitting legislation this year that would ease app...
3 major mistakes to avoid when trading crypto futures and options
Novice traders are usually drawn to futures and options markets due to the promise of high returns. These traders watch influencers post incredible gains, and at the same time, the multiple advertisements from derivatives exchanges that offer 100x leverage are at times irresistible for most. Although traders can effectively increase gains with recurring derivatives contracts, a few mistakes can quickly turn the dream of outsized gains into nightmares and an empty account. Even experienced investors in traditional markets fall victim to issues particular t cryptocurrency markets. Cryptocurrency derivatives function similarly to traditional markets because buyers and sellers enter into contracts dependent on an underlying asset. The contract cannot be transferred across different excha...
38% of US voters will consider candidates’ position on crypto in midterms: Survey
Roughly a third of eligible voters in the United States will be “considering crypto policy positions” when choosing candidates in the 2022 midterm elections, according to a new survey. In the results of a 2,029-person survey conducted by The Harris Poll between Oct. 6 and 11, 57% of likely midterm voters say they would be more likely to vote for a political candidate interested in staying informed about cryptocurrencies, while 38% said they would consider positions on crypto policy when voting in the midterms. The survey, initiated by Grayscale Investments, also suggests that crypto regulation is a bipartisan issue, with 87% of Democratic and 76% of Republican respondents saying they want clarity from the U.S. government. “Voters and lawmakers alike have been hearing about crypto, and...
Core Scientific may consider bankruptcy following uncertain financial condition: Report
Bitcoin mining firm Core Scientific is reportedly considering a potential bankruptcy amid a group of its convertible bondholders consulting restructuring lawyers. According to a Nov. 1 report from Bloomberg Law, the Core Scientific bondholders worked with legal firm Paul Hastings following a United States Securities and Exchange Commission filing suggesting financial distress. The Oct. 26 filing indicated that the mining company was unable to meet its financial obligations in late October and early November, citing the low price of Bitcoin (BTC), rising costs of electricity, an increase in the global BTC hash rate and legal issues with crypto lending firm Celsius. Core Scientific claimed in an Oct. 19 court filing that Celsius owed the firm more than $2.1 million for post-petition charges,...
Crypto regulation is 1 of 8 planned priorities under India’s G20 presidency, says finance minister
India’s Finance Minister Nirmala Sitharaman said she would love to show that the country is “moving speedily forward” with digital financial technology as it prepares to assume the presidency of the G20. Speaking at the Indian Council for Research on International Economic Relations on Nov. 1, Sitharaman said the people of India have taken to digital technology “as fish to water.” The finance minister added that crypto asset regulation would likely be one of India’s priorities in its leadership of the G20, but needed the support of other members. According to Sitharaman, India needed to work with organizations including the International Monetary Fund, Financial Stability Board, and Organization for Economic Co-operation and Development to ensure crypto “can be regulated with all countries...
The Legal Beat: Kanye’s Lawyers Cut Ties – Plus Slacker, Coachella and More
This is The Legal Beat, a weekly newsletter about music law from Billboard Pro, offering you a one-stop cheat sheet of big new cases, important rulings, and all the fun stuff in between. This week: Major law firms cut ties with Kanye West over his antisemitic comments, Slacker fights with SoundExchange over a huge royalties judgment, Coachella sues a nearby business called “Coachillin,” and much more. THE BIG STORY: Kanye West Is Running Out of Lawyers After a string of antisemitic statements earlier this month, Kanye West has lost nearly every aspect of his once-formidable business empire. His representatives at CAA have dropped him, and his signature fashion partnerships with Adidas, The Gap and Balenciaga have all been terminated. You can now add his lawyers to that list. Cadwalader Wic...
Music Catalogs Are Worth More as Streaming Grows — Here’s Why
The long-term potential of music streaming has had a growing influence on the price investors will pay for an artist or songwriter’s catalog. That’s according to a new paper titled How Streaming Has Impacted the Value of Music by Larry Miller, clinical professor and director of the music business program at New York University’s Steinhardt School of Culture, Education and Human Development. Miller, with the help of graduate students Felipe Garrido and Matt Palermo, found that streaming revenues were positively correlated with the multiples paid for music catalogs. Here, the term multiple refers to the acquisition price as a multiple of net publisher share (NPS), a publishing catalog’s annual royalties; or net label share (NLS), a recording catalog’s annual royalties. From 2011 to 202...
Kinesis Money Launches Virtual Crypto Card
London, United Kingdom, 1st November, 2022, Chainwire Kinesis Money, the digital asset utility platform, launched the Kinesis Virtual Card, enabling the global community to spend their crypto holdings in real-time, with instant fiat conversion, anywhere in the world. Powered by BAANX, the Kinesis Virtual Card introduces cryptocurrency as a monetary alternative to over 1 billion people in 61 countries across Latin America, Europe, the UK, Canada, and Oceania. Operated through the Mastercard payment network, the Kinesis card allows crypto holders to instantly sell their digital assets and use the proceeds to transact at 80 million locations globally. With inflation soaring worldwide, people are seeking alternatives to devaluing fiat currency. Accessible via mobile in minutes, the...
Crypto adoption via regulation: Setting rules for centralized exchanges
Centralized cryptocurrency exchanges have become the backbone of the nascent crypto ecosystem, making way for retail and institutional traders to trade cryptocurrencies despite a constant fear of government crackdowns and lack of support from policymakers. These crypto exchanges over the years have managed to put self-regulatory checks and implemented policies in line with the local financial regulations to grow despite the looming uncertainty. Cryptocurrency regulation continues to occupy mainstream debates and experts’ opinions, but despite public demand and requests from stakeholders of the nascent ecosystem, policymakers continue to overlook the rapidly growing sector that reached a market capitalization of $3 trillion at the peak of the bull run in 2021. Over the past five years...
Can internet outages really disrupt crypto networks?
In the wee hours of Oct. 18, several parts of Europe, America and Asia were left without any internet due to several undersea internet cables being “cut,” causing a chain reaction of connectivity problems across the globe. France, Italy and Spain, in particular, were faced with significant outages, with many experts claiming that vandals were to be blamed for the same. According to Jay Chaudhary, CEO of Zscaler — an American cloud security company — there is no doubt that nefarious third-party agents were to be blamed for the cut cables that resulted in packet data losses as well as latency for various websites and applications, adding that despite their best efforts authorities have been unable to pin down the individuals responsible for the attacks. Furthermore, it bears mentioning that ...
Bitcoin resistance mounts pre-FOMC as Dogecoin sets 17-month BTC high
Bitcoin (BTC) stayed motionless at the Nov. 1 Wall Street open as traders rooted for clues over a possible direction. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Hopes of a breakout remain despite BTC sell wall Data from Cointelegraph Markets Pro and TradingView showed a narrow range in place for BTC/USD overnight, the day seeing local highs of $20,681 on Bitstamp. Markets were keenly awaiting news from the United States Federal Reserve on interest rates, which is scheduled for 2:00 pm Eastern Time on Nov. 2. Until then, it i a case of “wait and see,” while on-chain monitoring resource Material Indicators noted sell-orders already increasing. “The binance order book is starting to look like a game of Tetris,” it summarized. A chart showed resistance being added just below $...
Andy Warhol would have loved (or possibly hated) NFTs
If Andy Warhol — the most famous artist of the 20th century — were alive today, he would make NFTs. The reasoning is simple: because for Warhol, business was art. So, I decided to do some digging and speak to Warhol experts to see if there is a case. But Warhol was an artist who defies easy definitions, and not everyone was keen to explore the highly speculative nature of the hypothesis. Professor Golan Levin, professor of electronic art at Carnegie Mellon University, said he couldn’t help and instead suggested that I “ask a Warhol biographer or a psychic medium.” Fair enough. So, I messaged Warhol’s renowned biographer, Blake Gopnik, author of Warhol. And then I found a Warhol psychic. Gopnik is an art critic and a regular contributor to The New York Times. He’s the author of Warhol, a de...
