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Ethereum co-founder Vitalik Buterin shares vision for layer-3 protocols
While Ethereum-based layer-2 solutions have been focused on hyperscaling the network, Ethereum co-founder Vitalik Buterin believes layer 3s will serve a far different purpose — providing “customized functionality.” Buterin shared his thoughts in a Saturday post, providing three “visions” of what layer 3s will be used for in the future. The Ethereum co-founder said a third layer on the blockchain makes sense only if it provides a different function to layer 2s, which have been used mainly to enhance scaling via zero-knowledge (zk) Rollup technology: “A three-layer scaling architecture that consists of stacking the same scaling scheme on top of itself generally does not work well. Rollups on top of rollups, where the two layers of rollups use the same technology, certainly do not....
DeFi platform sees strong interest in halal-approved crypto products
Australian-based crypto platform Marhaba DeFi says there has been a strong take-up of Halal-approved cryptocurrency products on its platform, with aims to release a suite of new products which align with Islamic law by the end of 2022. Launched in 2020, the platform is focused on adhering to the rules of “Islamic finance” which refers to how businesses and individuals raise capital in accordance with Sharia, or Islamic law. Speaking to Cointelegraph, Marhaba DeFi founder and CEO Naquib Mohammed said active users of their noncustodial multichain Sahal Wallet have grown to around 40,000 since its launch, stating: “People need a platform where they can trust every token they interact with, so we don’t have to go hunting on different platforms, tapping into different [Islamic] scholars or expe...
Mystikal Pleads Not Guilty to Rape & Drug Charges
Grammy-nominated rapper Mystikal pleaded not guilty on Monday (Sept. 19) to charges accusing him of raping and choking a woman at his home in Louisiana and of possessing several drugs. Explore Explore See latest videos, charts and news See latest videos, charts and news The 51-year-old performer whose given name is Michael Tyler is innocent of all charges, attorney Joel Pearce said after the arraignment in Ascension Parish court in Gonzales, about 15 miles from Baton Rouge. The charges include first-degree rape, which carries an automatic life sentence. Pearce said he has not been able to get copies of the two indictments, but they were read aloud in court. Charges also include simple criminal damage to property, false imprisonment, domestic abuse battery by strangulation, simple...
Believe Is ‘Maintaining All Its Operations’ in Russia — And Some Claim ‘Aggressively’ Growing Market Share
LONDON — Six months after Believe announced it had “suspended activities” in Russia following the country’s invasion of Ukraine, the French music company now says it is “maintaining all its operations” in the isolated nation. At best, that means recruiting staff to fill vacated roles and making multi-million dollar deals to renew contracts with label partners. At worst, sources say, Believe is taking advantage of the moment, “aggressively” signing Russian record labels and artists to gain market share in the region while major labels have committed to cease all new business there. In one Aug. 30 email reviewed by Billboard, a senior Believe executive in Russia offered a Russian record label 3 million euros ($3 million) for rights to its catalog and future releases. The email, which was wri...
Fiona’s outages rekindle anger over Puerto Rico’s privatized electric grid
The grid’s struggles go back years, stemming partly from under-investment in basic maintenance by the bankrupt, government-owned Puerto Rico Electric Power Authority, as well as the slow flow of billions of dollars in federal disaster aid. But the predominantly Spanish-speaking island’s problems are also rooted in its status as a U.S. territory with no voting representation in Congress and no electoral votes for the presidency. The privatization of the grid’s management has attracted much of the recent fury, with calls for the Puerto Rican government to take steps to terminate LUMA’s control of the grid as soon as November. Puerto Rico’s non-voting representative in Congress used a hearing last week to question why LUMA should remain in charge of the grid, and other critics point to figure...
Long the Bitcoin bottom, or watch and wait? Bitcoin traders plan their next move
Bitcoin (BTC) faced a 9% correction in the early hours of Sept. 19 as the price traded down to $18,270. Even though the price quickly bounced back above $19,000, this level was the lowest price seen in three months. However, pro traders held their ground and were not inclined to take the loss, as measured by derivatives contracts. Bitcoin/USD price index, 2-hour. Source: TradingView Pinpointing the rationale behind the crash is extremely difficult, but some say United States President Joe Biden’s interview on CBS “60 Minutes” raised concerns about global warfare. When responding to whether U.S. forces would defend Taiwan in the event of a China-led invasion, Biden replied: “Yes, if in fact, there was an unprecedented attack.” Others cite China’s central ...
CFTC commissioner visits Ripple offices as decision in SEC case looms
Caroline Pham, one of five commissioners at the United States Commodity Futures Trading Commission, or CFTC, met with Ripple CEO Brad Garlinghouse ahead of a court decision which could affect how regulators handle XRP tokens. In a Monday tweet, Pham said she visited Ripple Labs’ offices as part of a “learning tour” involving crypto and blockchain. Garlinghouse later tweeted that the commissioner’s visit was related to “public-private engagement” — likely referring to a privately funded company like Ripple engaging with U.S. regulators. The next stop on my learning tour was visiting @Ripple Labs. Thanks @bgarlinghouse! #XRP #crypto #blockchain pic.twitter.com/ICr8H2ZE3q — Caroline D. Pham (@CarolineDPham) September 19, 2022 The timing of Pham’s visit had many on social media reacting to the...
P2E gamers, minors not any safer from the tax man, says Koinly
Modern parents are going to need to keep an even closer eye on their kids’ gaming habits, as some of them may be accumulating a hefty tax bill, according to a crypto tax specialist. Speaking to Cointelegraph during last week’s Australian Crypto Convention, Adam Saville-Brown, regional head of tax software firm Koinly said that many don’t realize that earnings from play-to-earn (P2E) games can be subject to tax consequences in the same way as crypto trading and investing. This is particularly true for play-to-earn blockchain games that offer in-game tokens that can be traded on exchanges and thus have real-world financial value. “Parents were once worried about their kids’ playing games like GTA, with violence […] but parents now need to be aware of a whole new level […] tax complexit...
The market isn’t surging anytime soon — so get used to dark times
Global markets are going through a tough period — including the cryptocurrency market. But judging by talk from the peanut gallery, it seems like some observers haven’t received the memo. “Feel like we’re relatively safe through mid-terms,” Twitter’s “CryptoKaleo” — also known simply as “Kaleo” — wrote in a Sept. 12 tweet to his 535,000 followers, referring to the United State’s November mid-term elections. The prediction was accompanied by a chart indicating his belief that Bitcoin’s (BTC) price would surge to $34,000 — a 50% gain from its roughly $20,000 level as of last week — before the end of the year. “Of course we can bleed lower,” fellow pseudonymous Twitter mega-influencer Pentoshi wrote in a Sept. 9 missive to his 611,000 followers. “But the market at this value...
GRNGrid secures 50 million USD investment Commitment from GEM Digital
ZUG, SWITZERLAND, 19th September, 2022, Chainwire The GRN Association announced today that it has secured an investment totaling $50M for the GRNGrid project from GEM Digital Limited, a venture capital focused on digital currencies. About GRNGrid GRNGrid is an environmentally friendly, scalable, and stable Layer 1 blockchain, with novel DeFi features. On GRNGrid, users have the choice to only use nodes running exclusively on renewable energy for their transactions. GRNGrid’s renewable energy partners, who specialize in data center and hosting facilities, have shown keen interest in running Grid’s nodes as validators. With their help, the company can kickstart the availability, speed, and sustainability of GRNGrid in Q2 2023. GRNGrid’s novel features as GRNPay and Exnode will also encourage...
Huobi Global to List Inery Token on September 28th, 2022
Singapore, Singapore, 19th September, 2022, Chainwire Inery, a decentralized data system, announces the official listing of its token on Huobi Exchange is set to go live on September 28, 2022. Huobi Exchange is one of the world’s leading crypto exchanges, supporting over 1000 trading pairs and more than 600 cryptocurrencies. Inery takes a different approach to decentralizing data and data management for both Web2 and Web3 companies while streamlining the shift to the decentralized web. Inery ecosystem is curated to enable decentralized data management by integrating blockchain functionalities like immutability, security, and owner-controlled data assets with the distributed database properties to enable high performance, low network latency, and complex query functions. The ecosystem is se...
Inside Track: Warner Music Group Closes In on Robert Kyncl as Next CEO
Former YouTube chief business officer Robert Kyncl is in serious talks to succeed outgoing Warner Music Group CEO Stephen Cooper, and sources familiar with the situation say his tech background has made him the frontrunner in the music group’s search for a new leader. One source says WMG has yet to make a final decision but adds it’s possible a deal could be reached within the next few weeks Talks are said to be progressing, and there’s a sense that Kyncl the frontrunner given his background and the desire for someone who is very plugged in to the business side of the tech world, says another insider. Other candidates remain in the running, says the source — SiriusXM president/chief content officer Scott Greenstein, Warner board member and Vice CEO Nancy Dubuc and former Pandora CEO Roger ...
