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Nifty News: Rumors of new Yuga Labs collection quashed, Budweiser celebrates the Merge and more…
Yuga Labs co-founder Greg Solana (Garga.eth) has shot down rumors that the Bored Ape Yacht Club (BAYC) creators have plans to launch a new NFT collection dubbed “Mecha Apes” by the end of the year. The rumors started swirling after Protos claimed to have obtained leaked documents detailing that Yuga Labs was looking at raising around $50 million from the sale of 100,000 tokenized land plots. After the news was reported via various outlets online, Garga.eth noted it was all “fake news” via Twitter on Sept. 16. fake news https://t.co/KVMaO18IaF — Garga.eth (@CryptoGarga) September 15, 2022 While the rumors have been quashed, given that Yuga Labs has hit the ball out of the park with each project it’s launched so far, and that it has outlined a broad vision for its Metaverse, another NF...
Ethereum may now be more vulnerable to censorship — Blockchain analyst
Ethereum’s upgrade to proof-of-stake (PoS) may make it more vulnerable to government intervention and censorship, according to the lead investigator of Merkle Science. Speaking to Cointelegraph following the Ethereum Merge, Coby Morgan, a former FBI analyst, and the Lead Investigator for crypto compliance and forensic firm Merkle Science expressed his thoughts on some of the risks posed by Ethereum’s transition to PoS. While centralization issues have been broadly discussed leading up to The Merge, Moran suggested the prohibitive cost of becoming a validator could result in the consolidation of validator nodes to the bigger crypto firms like Binance, Coinbase, and Kraken. In order to become a full validator for the Ethereum network, one is required to stake 32 Ether (ETH), which is w...
Most of the crypto market is down, but Cosmos (ATOM) price is up — Why?
The Ethereum Merge has finally happened. It’s over, and fortunately it went smoothly without any major hiccups. As predicted by many, the event turned out to be a “buy the rumor sell the news” style event, or perhaps, the hotter-than-expected consumer price index print on Sept. 12 was the real catalyst that pushed the market in its current direction. Regardless of the reasons for this week’s downturn, the Merge is over and in its wake, bulls are left holding a whole lot of nothing. It’s likely that a new bullish narrative will need to emerge, or analysts will need to keep a close eye on smart money to see what assets they elect to rotate into. So now that it’s over, what’s the new narrative? Surge, verge, purge, or splurge? Maybe dirge? — Galois Capital (@Galois_Capital) ...
IOTA co-founder: Lummis-Gillibrand is a blessing for the crypto industry
There’s never a good time for a crypto winter, but it would be difficult to envision a worse time than right now. Even before 70% of Bitcoin’s (BTC) value evaporated seemingly overnight, things were not going great in the court of public opinion. Negative sentiment was everywhere; a Twitter account documenting crypto bros taking it on the chin racked up hundreds of thousands of followers. Now the biggest crypto exchanges in the world are laying off full-time employees by the thousands, and the self-proclaimed “Cryptoqueen” has landed a spot on the United States Federal Bureau of Investigation’s Ten Most Wanted Fugitives list for defrauding investors out of $4 billion. Oof. The prosecution rests. It’s easy to brush off crypto’s public-facing PR woes as being exactly that: an image problem. ...
US Treasury sanctions 5 crypto addresses connected to Russian neo-Nazi paramilitary group
The United States Department of the Treasury added five cryptocurrency addresses tied to a neo-Nazi group involved in Russia’s war on Ukraine to list of entities sanctioned by the Office of Foreign Asset Control. In a Thursday notice, the U.S. Treasury designated 22 individuals and 2 entities, including many the government department claimed had furthered the Russian government’s objectives in Ukraine, to its list of Specially Designated Nationals, effectively barring U.S. persons and companies from dealing with them. Included in sanctions of one of the entities — a neo-Nazi paramilitary group called Task Force Rusich — were 2 cryptocurrency addresses for Bitcoin (BTC), 2 for Ether (ETH), and 1 for Tether (USDT). Treasury Secretary Janet Yellen said the sanctions were imposed as part of th...
Ethereum Merge: Community reacts with memes, GIFs and tributes
It’s been less than a day since Ethereum’s historic transition to proof-of-stake, with most of the crypto community still abuzz with excitement following the successful Merge. On Sept. 15 at 06:42:42 UTC, the last Ethereum block using the old proof-of-work consensus mechanism was mined. Replacing it is an energy-efficient proof-of-stake consensus mechanism. Many crypto enthusiasts and climate advocates worldwide have been thrilled by the positive impact it will have on the environment and thus, crypto’s reputation. Others have just been in awe of the technological feat of upgrading an entire blockchain network without any stoppages. Ethereum Ethereum30 minutes ago Now pic.twitter.com/cyQb3pAdtt — WolfOfEthereum.eth ️ (@Crypto_Wolf_Of) September 15, 2022 Uniswap Labs founder and CEO ...
Def Jam Names Mike Hamilton SVP of Streaming & Commerce
Def Jam has named Mike Hamilton as its new senior vp of streaming and commerce, the label announced Thursday (Sept. 15). The music executive, who was named a 2021 Billboard R&B/Hip-Hop Power Player, has helped guide the streaming success of artists like Giveon, Future, DJ Khaled, Travis Scott, 21 Savage and Cardi B. “Mike boasts some of the best relationships in the industry, and brings a deep, nuanced understanding of the streaming ecosystem and a keen eye for strategy,” said Tunji Balogun, Def Jam chairman and CEO. “Our company and our artists will immediately benefit from Mike’s experience and expertise, and I’m beyond excited to finally work alongside him in breaking new artists together under the Def Jam banner.” Prior to his new role, Hamilton served for three years as senio...
Cinq Sues Create Music Group for ‘Falsely Claiming’ Copyright Infringement
Record label and distributor Cinq Music Group sued Create Music Group on Monday, accusing the company of preventing it from monetizing Swell’s 2016 song “I’m Sorry” on YouTube. Cinq’s complaint, filed in Los Angeles Superior Court, asks for “no less than $200,000” in damages, claiming intentional interference with contractual relations, intentional interference with prospective economic relations, and negligent interference with prospective economic relations. Billboard previously reported that more than 10 sources — including artist managers, lawyers and executives at other royalty collection companies — said they know of times when Create has claimed YouTube publishing royalties it has no right to receive. Create vehemently denied the allegations. Cinq’s lawsuit, in contrast, invol...
Weekslong boil water notice lifted in Mississippi capital
Emergency repairs are still underway after problems at Jackson’s main water treatment plant caused most customers to lose service for several days in late August and early September. Problems started days after torrential rain fell in central Mississippi, altering the quality of the raw water entering Jackson’s treatment plants. That slowed the treatment process, depleted supplies in water tanks and caused a precipitous drop in pressure. When water pressure drops, there’s a possibility that untreated groundwater can enter the water system through cracked pipes, so customers are told to boil water to kill potentially harmful bacteria. But even before the rainfall, officials said some water pumps had failed and a treatment plant was using backup pumps. Jackson had already been under a boil-w...
Bitcoin price loses $20K, ETH price drops 8% after ‘monumental’ Ethereum Merge
Bitcoin (BTC) spent a second day threatening $20,000 support on Sept. 15 as markets processed the Ethereum (ET Merge. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC stuck between price magnets’ Data from Cointelegraph Markets Pro and TradingView showed BTC/USD spiking below $20,000 again overnight to recover marginally above the boundary for a brief period. The largest cryptocurrency broadly failed to regain lost ground after surprise United States inflation data on Sep. 13 sent risk assets into a tailspin. Down 13.5% versus the week’s top at the time of writing, Bitcoin offered little inspiration to traders who were still eyeing further losses. Yes, we could pump from here. No, the bottom is not in. pic.twitter.com/dXYKngcQtR — Material Indicators (@MI_Algos) S...
The Ethereum Merge to proof-of-stake is complete — What’s next? | Interview with Dr. Julian Hosp
In this week’s episode of Market Talks, we welcome Julian Hosp, CEO and co-founder of Cake DeFi. Julian Hosp is the CEO and co-founder of Cake DeFi, a highly intuitive online platform dedicated to providing access to decentralized financial services. He is widely regarded as a leading influencer in the crypto and blockchain space with over one million followers across all of his channels globally. He is also a best-selling author and his vision is to bring blockchain awareness and understanding to a billion more people by 2025. The Merge has been all over the place recently, with different news outlets, influencers and YouTube channels covering the event as much as possible, but why does the Ethereum Merge actually matter, and why is it such a significant event in crypto? We ask...
Merge is ‘a step in the right direction’ to address crypto’s energy usage — Rostin Behnam
Rostin Behnam, chair of the United States Commodity Futures Trading Commission, or CFTC, said the Ethereum blockchain’s transition to proof-of-stake may help reduce crypto’s energy usage, but hinted legislation would likely still be needed to address the problem. Speaking at a Thursday hearing before the Senate Agriculture Committee, Behnam addressed a question from Minnesota Senator Amy Klobuchar, who brought up the environmental impact of the “significant energy” required of mining cryptocurrencies. Without mentioning the Merge by name, the CFTC chair said the crypto bill currently being considered by lawmakers would require a report on energy usage that could lead to future policy discussion and “incentives to move away from carbon-intensive energy sources.” “We’ve all heard the statist...
