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Nansen admits neglecting DeFi plans during the NFT craze
Despite the general downturn in the cryptocurrency markets throughout the year, Ethereum blockchain analytics platform Nansen has continued to report impressive growth numbers. CEO and co-founder Alex Svanevik recently spoke about Nansen’s growth, highlighting that the company has registered over 130 million addresses and has grown 30% despite the crypto downturn. Svanevik credited much of his success to the value of blockchain platforms, notably those based on Ethereum. Cointelegraph reached out to Nansen’s Andrew Thurman for more insight into the company’s success. Thurman, a Simian psychometric enhancement technician, explained that after the nonfungible tokens (NFT) craze, Nansen realized it would be a big area for the company and became its most popular section. He added: “A...
HYBE’s Revenues Soared in Q2, But That Doesn’t Account for BTS Break
With BTS on a break since June and its members pursuing solo projects, HYBE’s solid second-quarter earnings release was as much about what happens next than what already happened. HYBE’s total revenue improved 83.8% to 512.2 billion KRW ($397.7 million) from April to June. Most growth came from the company’s “artist direct involvement” segment, which increased 153%. Concert revenue grew to 85 billion KRW ($66 million) from nothing in the prior-year period on the strength of BTS’s four concerts in Las Vegas and Seventeen concerts in Japan. Revenue from ads, appearances and management grew 39% to 30 billion KRW ($23.3 million) While merchandising and licensing improved 97.2% to 98.8 billion KRW ($78.7 million), contents fell 22.6% to 70.7 billion KRW ($54.9 million), partially because online...
BMG Acquiring German Indie Label Telamo to Gain Control of Local Schlager Market
BMG is growing its share of the world’s fourth largest music market by acquiring German independent powerhouse Telamo, the country’s biggest indie imprint and market leader in Schlager music, a form of easy listening Europop. Berlin-based BMG did not reveal financial terms of the deal, which the Austrian Federal Competition Authority still needs to approve before it can be completed. BMG says it is the company’s largest label investment since it acquired Nashville-based BBR Music Group in 2017. That deal was worth around $100 million, according to sources at the time. In 2021, BMG generated revenues of €40 million ($40.6 million) in Germany across its recorded music and publishing divisions, according to parent company Bertelsmann‘s year-end financial report, with recordings accounting for...
Concord Acquires Australasian Music Publisher Native Tongue
Concord continues to expand, this time with the acquisition of Native Tongue, one of the leading independent music publishers in Australasia. A family business since it was established in 2003 by New Zealander Chris Gough, Native Tongue is sub-publisher for more than 40 international catalogs, including Barton Music, Because Editions, Boosey & Hawkes, Cloud 9 Music, Domino Publishing Company, Faber Music, Roys Boys, PULSE Publishing, Ultra Music and Wixen Music. The acquisition, announced Thursday (Aug. 4), is an extension to an alliance that has seen Native Tongue represent Concord in Australia and NZ for more than 12 years. Concord now has access to Native Tongue’s stable of songwriters, which includes Grammy-nominated writer/producer Stuart Crichton (Backstreet Boys, Kesha, Kygo, Ro...
We Attended a Secret Party In the Forest at Tomorrowland 2022—Here’s What It Looked Like
In the throes of the crypto winter, FTX found warmth in the effervescent confines of Tomorrowland. Cryptocurrency and electronic dance music have been inextricably linked thanks to the widespread adoption of digital collectibles by DJs. In fact, the 2021 IMS Business Report found that 76% of all music NFTs were issued by electronic music artists. The nexus of all this activity is music festivals, where NFT and crypto developers can escape the dangerous, theft-laden interwebs to demonstrate the utilities of their projects in a controlled environment. So FTX, a popular cryptocurrency exchange which averages roughly $10 billion of daily trading volume, touched down at the largest EDM festival in the world. The company organized a hidden stage called The Hill during each day of the 2022 e...
3 key Ether derivatives metrics suggest $1,600 ETH support lacks strength
Ether (ETH) price is up 60% since May 3, outperforming leading cryptocurrency Bitcoin (BTC) by 32% over that span. However, evidence suggests the current $1,600 support lacks strength as network use and smart contract deposit metrics weakened. Moreover, ETH derivatives show increasing sell pressure from margin traders. The positive price move was primarily driven by growing certainty of the Merge, which is Ethereum’s transition to a proof-of-stake (PoS) consensus network. During the Ethereum core developers conference call on July 14, developer Tim Beiko proposed Sept. 19 as the tentative target date for the Merge. In addition, analysts expect the new supply of ETH to be reduced by up to 90% after the network’s monetary policy change, thus creating a bullish catalyst. Ethe...
Victorian police to get ‘greater power’ to seize crypto assets from criminals
Victorian Police in Australia will soon be granted new powers to seize cryptocurrency and digital assets from criminals, as well as compel platforms to hand over information about suspects. According to a statement released by Victorian premier Daniel Andrews on Aug. 2, new laws were introduced to parliament on Tuesday under the Major Crime and Community Safety Legislation Amendment Bill 2022, with the aim of cracking down on organized crime in the state. The new bill is expected to give authorities “greater power” to identify and seize digital assets, in response to the growing use of digital cryptocurrencies by organized crime. The laws will uphold also require crypto exchanges disclose information to assist with criminal investigations in the same way that banks would. “They will be abl...
Slope wallets blamed for Solana-based wallet attack
As the dust settles from yesterday’s Solana ecosystem mayhem, data is surfacing that wallet provider Slope is largely responsible for the security exploit that stole crypto from thousands of Solana users. Slope is a Web3 wallet provider for the Solana layer-1 (L1) blockchain. Through the Solana Status Twitter account on Aug. 3, the Solana Foundation pointed the finger at Slope stating that “it appears affected addresses were at one point created, imported, or used in Slope mobile wallet applications.” After an investigation by developers, ecosystem teams, and security auditors, it appears affected addresses were at one point created, imported, or used in Slope mobile wallet applications. 1/2 — Solana Status (@SolanaStatus) August 3, 2022 Solana co-founder Anatoly Yakovenko also linked Slop...
Winnipeg police get provincial funding to beef blockchain forensics unit
Police in Winnipeg, the capital of the Canadian province of Manitoba, will be better prepared to deal with the use of cryptocurrency in cybercrime, thanks to $100,000 Canadian Dollars (CAD) in funding provided by the provincial government. Provincial Justice Minister Kevin Goertzen on Aug. 3 said the money from the Criminal Property Forfeiture Fund will be used to put five additional members of the police service through a Cryptocurrency Tracing Certified Examiner training program, as well as to purchase specialized software to trace cybercrime activities such as CipherTrace and Blockchain Forensics. According to the Manitoba government, cybercrimes have increased by more than 370% between 2016 and 2020. Sgt. Trevor Thompson of the Winnipeg police financial crime unit said in a statement: ...
Warner Records CEO Mo Ostin Remembered by Producer Russ Titelman: ‘He Had No Ego’
Grammy-winning producer Russ Titelman first met Mo Ostin, the legendary executive who ran Reprise and then Warner Records from 1960 to 1994, in the early ’60s when Titelman was still a teenager and freshly signed to Screen Gems-Columbia Music as a songwriter. Eventually, Ostin, who died July 31 at 95, and then head of A&R Lenny Waronker convinced Titelman to come to Warner Records, where he had an extraordinary run as an in-house producer for 25 years, working with such artists as Randy Newman, Eric Clapton, Paul Simon, James Taylor, Steve Winwood, Chaka Khan and so many more. Titelman, whose Grammy wins include record of the year for Winwood’s “Higher Love” (1986) and again for Clapton’s “Tears in Heaven,” as well as album of the year for Clapton’s “Unplugged” (1992), talked with Bill...
Riot Blockchain’s Bitcoin mining productivity dropped 28% YOY amid record Texas heat
Crypto mining firm Riot Blockchain reported it produced fewer Bitcoin (BTC) in July 2022 than that in July 2021 after scaling down operations at its Texas facility. In a Wednesday announcement, Riot said its miners had produced 318 Bitcoin in July, more than 28% less than the 443 BTC the firm reported generating in July 2021. According to Riot CEO Jason Les, the firm curtailed operations by 11,717 megawatt-hours in July in response to increasing demand on Texas’ energy grid. Many parts of the Lone Star State experienced several days with temperatures over 100 degrees Fahrenheit, requiring additional power for air conditioners. “As energy demand in [Electric Reliability Council of Texas, or ERCOT] reached all-time highs this past month, the company voluntarily curtailed its energy...
MicroStrategy stock MSTR hits 3-month high after CEO’s exit
MicroStrategy (MSTR) stock opened higher on Aug. 3 as investors digested the news of its CEO Michael Saylor’s exit after a depressive quarterly earnings report. Microstrategy stock up 142% since May lows On the daily chart, MSTR’s price surged by nearly 14.5% to $324.55 per share, the highest level since May 6. The stock’s intraday gains came as a part of a broader recovery that started on May 12 at $134. Since then, MSTR has grown by 142% versus Nasdaq’s 26.81% gains in the same period. MSTR daily price chart. Source: TradingView Bad Q2, Saylor’s resignation The Aug. 3 MSTR rally came a day after MicroStrategy reported a billion dollar loss in its second quarter (Q2) earnings call. Interestingly, the company’s major Bitcoin exposure was a large re...
