In their decision, the high court’s six conservative justices invoked what they called the “major questions” doctrine to declare that agencies such as EPA need explicit congressional approval before “asserting highly consequential power” over almost any policy area. But they did not offer a precise definition of what would cause a regulation to qualify as major — a question that agencies and lower courts may now need to spend years wrestling with. “The major questions doctrine is clearly in its ascendancy and it operates as a distinct constraint on agency power,” West Virginia Attorney General Patrick Morrisey, who successfully led a multistate coalition in the challenge to EPA, said in an interview. Before the ruling, liberal legal scholars had feared that the Supreme Court would unleash ...
Biden framed the fight against the greenhouse gases that are heating the planet as one of his highest priorities, alongside combating the pandemic. But those ambitions suffered a major blow last week when Sen. Joe Manchin (D-W.Va.) rejected plans to spend $300 billion to expand clean energy incentives. And last month, the Supreme Court erected legal obstacles to the federal government’s ability to regulate carbon dioxide from power plants, the second largest source of the greenhouse gas. “As president, I have a responsibility to act with urgency and resolve when our nation faces clear and present danger. And that’s what climate change is about. It is literally, not figuratively, a clear and present danger,” Biden said. His comments come as more than 100 million Americans swelter under 100-...
“This is the time when people want their expectations raised and they want something delivered,” said Blumenauer, who has long urged Biden to declare a climate emergency. Supporters of the move note that 39 countries have already declared climate emergencies, as have nearly 200 U.S. cities and counties. “The president has an ability to protect our country when our national security is threatened,” Sen. Ed Markey (D-Mass.) told reporters Monday. “And clearly, the climate crisis is a threat to national security.” Biden isn’t going the emergency route for now, the White House says. Instead, he used his speech on Wednesday in front of a coal-plant-turned-wind-power project in Somerset, Mass., to announce efforts to power more homes using offshore wind, expand programs for low-income households...
El Salvador’s Bitcoin (BTC) bet has somewhat backfired, with the top cryptocurrency currently trading at a 70% discount from its top. At a time when the Latin American nation is struggling with its debt, Morgan Stanley has given a buy call for the battered eurobond. Simon Waever, global head of emerging-market sovereign credit strategy at Morgan Stanley, told investors in a Tuesday note that El Salvador’s bonds are overly punished by the market conditions, despite the country having better financial metrics than many of its peers, reported Bloomberg. The note to investors read: “Markets are clearly pricing in a high probability of the autarky scenario in which El Salvador defaults, but there is no restructuring.” Waever noted that a country’s debt shouldn’t trade lower than $0.437 on the d...
The world is in the midst of a digital revolution and with it, the way we think about value is shifting. The application of nonfungible tokens (NFTs) to represent and transmit religious values and principles is one of the most fascinating manifestations of this new perspective. The NFT is a very new technology, but there’s a lot of excitement about its potential. There’s also a lot of enthusiasm for the possibilities that NFTs provide in various sectors, including education and religion. The ability of NFTs to help teach and pass on religious values and beliefs is particularly fascinating. Cointelegraph caught up with Deepali Shukla, the founder and managing director at MetaDee, a new London-based NFT marketplace that just launched exclusive handwritten Quran NFTs dating back t...
The market capitalization of Tether (USDT), a United States dollar-pegged stablecoin, is currently over $65 billion. USD Coin (USDC), another stablecoin backed by the U.S. dollar, clocks in near $55 billion. Some reports estimate that the total market cap of dollar-backed stablecoins is over $160 billion. Despite this success of dollar-based stablecoins, there has not been a euro stablecoin that is even remotely comparable in size. By the end of June, the U.S.-based company Circle announced that it will launch its own euro stablecoin, Euro Coin (EUROC), on the Ethereum blockchain. With a euro-based stablecoin, uncomplicated euro transfers will be possible worldwide in the future, as is currently the case with the U.S. dollar. Instead of the eurozone-based business, Circle has opted to issu...
Widely credited as the inventor of digital cash, David Chaum is sometimes known as the “father of online anonymity” or the “godfather of cryptocurrency,” whose work inspired the near-mythical group called the Cypherpunks from which Bitcoin emerged. Beginning his studies in computer science in the late 1970s, when encryption was classified at the same level as nuclear technology, Chaum quickly realized that the technology would be crucial to ensure the continuation of privacy and democracy in the digital age. More recently, he founded xx Network, a privacy-focused blockchain whose connected xx Messenger Chaum hopes will withstand attacks even by quantum computers of the future. “The National Security Agency was taking the position that cryptography was born classified, even if you cre...
HarbourView Equity Partners has acquired an undisclosed stake in the royalty income streams of the band Hollywood Undead’s music publishing and recorded masters catalog from the group’s first four studio albums, which were released by the Universal Music Group. Terms of the deal were not disclosed. Hollywood Undead’s UMG albums include the platinum-certified Swan Songs and the gold-certified American Tragedy. The Los Angeles-based band issued the former album, its debut, in 2008, while American Tragedy hit No. 4 on the Billboard 200 in April 2011 and its followup, Notes From The Underground, reached No. 2 in January 2013. Since 2008, the band’s entire catalog — the four UMG albums, as well as three subsequent albums for BMG — has generated activity totaling 4.3 million album consumption un...
South Bend, Indiana, 20th July, 2022, Chainwire SIMBA Chain is announcing a new partnership for the global healthcare and life sciences industry with Equideum Health, the Web3 and blockchain-powered health company formerly known as ConsenSys Health. The collaboration aims to significantly enhance global healthcare by building a decentralized marketplace, dubbed the Equideum Exchange, for empowering individuals to monetize health and health-relevant data about them. Integrating SIMBA Chain’s cutting-edge blockchain solution SIMBA Blocks with Equideum Health’s Elevated ComputeTM platform will greatly accelerate both cross-blockchain interoperability and the incorporation of healthcare and life sciences supply chain data into the new Web3 data economy enabled by the Equideum Exchange. T...
Singapore, Singapore, 20th July, 2022, Chainwire Bluejay Finance, a capital-eff icient decentralized stablecoin protocol for issuing stablecoins pegged to real-world currencies, has raised $2.9M in funding from Zee Prime Capital, C2 Ventures, Stake Capital Group, RNR Capital, Daedalus Angels, Moonlanding Ventures, Oval Ventures, and more, with operator-angels including DeFi projects like Ribbon Finance, Flux, Voltz, and Alpha Venture Dao. Founded in 2021, Bluejay Finance aims to build an avenue for investors to have more stablecoin solutions centered around currencies other than USD in the DeFi space. It plans to use its funds for team development and stablecoin deployment, focusing on Asian stablecoins, such as the Singapore Dollar and the Philippine Peso, and will distribute them through...
The site selection is intentional: The Brayton Point Power Plant once burned coal for electricity, but is now a manufacturing center for offshore wind. It reflects Biden’s messaging on climate, as he sees it as a jobs winner that can put trades people like electricians and steelworkers in growing fields, all while curbing planet-heating gases. But Biden is stopping short of acceding to pleas from progressive activists to declare a climate emergency that would give the administration vast powers to redirect spending to climate initiatives, halt fossil fuel exports and use wartime authority to make clean energy products. White House Press Secretary Karine Jean-Pierre said the climate emergency option and other actions remain on the table. Yet achieving Biden’s climate goal to curb emissions ...
Ethereum is outperforming the broader cryptocurrency market as the highly anticipated Merge approaches, but the bigger picture is still largely bearish. Ethereum (ETH) has gained a whopping 48% over the past seven days, outperforming its big brother Bitcoin, which has only managed to achieve 19% in the same period. It’s also up 66% from its market cycle bottom of $918 on June 19, reaching its current price of $1549. However, the current Ethereum rally could be a bull trap with the macroeconomic clouds darkening. A bull trap is a signal indicating that a declining trend in a crypto asset has reversed and is heading upwards when it will actually continue downwards. The primary driver of recent momentum for the asset has been linked to announcements regarding its final switch to pr...