Business
Wazupnaija – Naija Entertainment blogs & Forums – Business
Marathon Digital stock reaches 6-year high as company HODLs $460M Bitcoin
United States-based crypto mining company Marathon Digital Holdings holds more than $460 million in Bitcoin (BTC), mainly from mining and purchases since last year. According to a Tuesday report, the mining firm said it had been HODLing all Bitcoin generated from its mining operations — roughly 2,640 BTC — since its last sale in October 2020. In addition, Marathon Digital purchased more than 4,812 BTC in January when the price of the crypto asset was under $35,000. At the time of publication, the BTC price is $62,056, giving the mining firm’s 7,453 BTC holdings a value of roughly $462 million. The company has continued to ramp up its mining operations despite global supply chain issues affecting the distribution of crypto mining rigs. Marathon Digital reported it had chartered planes ...
Fed set to begin pulling plug on massive aid to economy
The Federal Reserve has been buying $120 billion a month in U.S. government debt and mortgage-backed securities | Patrick Semansky/AP Photo The Federal Reserve said Wednesday it will begin to slow its massive bond purchases later this month, the first step in removing its extraordinary pandemic-era support for the economy. The long-awaited move signals both optimism about the pace of job growth and wariness about price surges that have pushed inflation up to its highest level in decades. The central bank has been buying $120 billion a month in U.S. government debt and mortgage-backed securities, a process designed to supercharge its efforts to keep borrowing costs low for households and businesses. But some investors and lawmakers have warned that the central bank’s vast purchases are feed...
Powell is rolling back Fed aid to the economy. Here’s what comes next.
Powell has said that those bond purchases could cease entirely by the middle of next year, at which time the Fed could choose to deploy a more powerful tool for fighting inflation: raising short-term interest rates. The central bank has not yet indicated when it will take that step. Key economic indicators over the coming months will give a clearer picture, including Friday’s release of October jobs numbers and next week’s release of the latest consumer price index data. Here are five quotes from Powell that help explain how the Fed might approach the decision. “It is time to taper we think because the economy has achieved substantial further progress toward our goals.” The Fed has two goals right now: getting inflation to average 2 percent over time, and putting as many people...
EOS was a victim of its own success: CEO Yves La Rose
EOS Foundation CEO blames Block.one for the company’s current state In a speech that was aimed at acknowledging the current state of the EOS ecosystem and mapping a path for the future of the EOS community, EOS Foundation CEO Yves La Rose stated that the token’s dwindling market capitalisation and value over the last three years has shown that it has been a terrible investment. In what was the CEO’s first public appearance after the announcement of the launch of the EOS Foundation, La Rose called EOS a “victim of its own success” and stated that the token as it stands is a failure. “It’s been a terrible financial, time and community investment. The reality is that many people no longer want to be associated with EOS because of its tarnished reputation,” La Rose stated acco...
NYSE Arca files with SEC to list Bitwise Bitcoin ETP Trust
NYSE Arca, a subsidiary of the New York Stock Exchange (NYSE) Group, wants to list and operate a trust based on Bitcoin (BTC) exchange-traded products (ETP). In a rule-change proposal with the United States Securities and Exchange Commission, NYSE Arca proposed to list shares of the Bitwise Bitcoin ETP Trust. The proposal clarifies that each share of the trust will be represented by fixed “units of undivided beneficial ownership,” allowing the shares on the stock exchange to reciprocate their value in accordance with Bitcoin’s market price. Moreover, the trust will be operated by two third-party associates serving as the trust’s custodian, administrator and transfer agent. According to the filing: “Under normal circumstances, the Trust’s only asset will be bitcoin, and, under limited...
Cryptocurrency trading platform Crypto.com to debut UFC NFTs
On Tuesday, crypto trading and payments firm Crypto.com revealed the release of the first authorized UFC nonfungible token (NFT). According to the news release, the UFC’s new NFT series will include digital collectibles such as fight night paintings, event posters, championship belts, fighter personas and avatars. On Thursday, the collection of NFTs known as “UFC 268 Packs” will be made available. The upcoming bout “UFC 268: Usman vs. Covington 2” will be represented by this event’s fight posters and belt designs. The NFTs will be accessible for purchase to fans “while supplies last.” According to Cointelegraph in July, the world’s largest mixed martial art entertainment firm, UFC, signed a $175-million sponsorship deal with Crypto.com. During a press conference at Madison Squar...
Over 140 million people have digital yuan accounts, says PBoC head
China’s trials with central bank digital currency (CBDC) show no signs of slowing down, as the updated numbers for October 2021 were revealed at Hong Kong Fintech Week. Set out to replace cash in day-to-day transactions, the digital yuan (e-CNY) is gaining traction among individuals and corporates alike, according to the People’s Bank of China’s (PBoC) Digital Currency Institute head Mu Changchun. Speaking at the conference on Wednesday, Mu said the number of individual digital yuan accounts hit 140 million, while corporates created another 10 million accounts. While the official launch date is still unclear for the e-CNY, China has continued to expand the rollout of trials to more than a dozen regions. With a wide range of merchants from utilities, catering services and transportation to ...
To the moon: Huobi wants to send someone to space for its 8th birthday
Huobi Group, a major global blockchain company behind the world’s third-largest cryptocurrency exchange by trading volume, is celebrating its eighth birthday in a somewhat unusual way. The company will hold a series of events as part of its eighth-anniversary celebrations, including giveaway promotions and a space travel ticket, Huobi told to Cointelegraph on Wednesday. Huobi will hold a contest that will offer one lucky winner an experience to literally travel into space. All Huobi Global users across the world are eligible to participate in a free contest, but there are certain limitations. “There are still health requirements that have to be passed in order to go to space, but these details will be revealed at a later point,” Jeff Mei, director of global strategy at Huobi Group, to...
Bruce Springsteen In Talks to Sell Recorded Music Catalog to Sony Music
The Springsteen album catalog, which has racked up 65.5 million sales in the United States according to the RIAA website, and which includes the 15-times platinum Born In The U.S.A. and the five-times times platinum The River, still has plenty of firepower, as his music has generated 2.25 million album consumption units in the U.S. since the beginning of 2018, according to MRC Data. While Springsteen has long been associated with Columbia Records and Sony Music, he was among a handful of superstar artists like Garth Brooks, AC/DC, Pink Floyd and other Sony artists Neil Diamond, Bob Dylan and Michael Jackson who all managed to win back ownership of their recorded masters in the last decades of the 20th century. But now seems to be the perfect time for artists who own their copyrights to cas...
Stevie Wonder Brings Back House Full of Toys Benefit Concert
Wonder, who underwent a kidney transplant in 2019, last hosted House Full of Toys in 2018. The 25-time Grammy winner then welcomed a lineup of special guests that included Anderson .Paak and Ella Mai. On behalf of Wonder’s nonprofit organization, We Are You Foundation, concertgoers are asked to bring an unwrapped toy or gift to the holiday event to help children, people with disabilities and families in need. Tickets for House Full of Toys 2021 go on sale to the public on Nov. 5 at 1 p.m. ET via AXS.com. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users bac...
El Salvador to use surplus Bitcoin Trust funds to build 20 schools
El Salvador is the most progressive cryptocurrency in the world at the moment after making Bitcoin an official tender two months ago. The government of El Salvador has revealed that it intends to build 20 schools from the profit it makes with its Bitcoin Trust. This latest development is the government’s next project as it looks to make cryptocurrencies more appealing to its citizens. In September, El Salvador made Bitcoin a legal tender. The leading cryptocurrency is now accepted alongside the US Dollar as payment options for goods and services in the country. Since then, the government has been rolling out numerous initiatives to promote the use of Bitcoin for carrying out everyday transactions. The Press Secretary of the Presidency revealed yesterday that the government would use some o...
Solana rallies by more than 11%. Will It overtake the USDT coin next?
Solana has rallied by more than 11% over the past 24 hours, surpassing Cardano in terms of market cap and looks set to surge higher in the coming days. Solana has become the fifth-largest cryptocurrency by market cap after setting a new all-time high earlier today. SOL rallied to a new all-time high of $230 a few hours ago, overtaking Solana to become the fifth-largest cryptocurrency by market cap. At the time of writing, Solana is trading at $228 per coin, up by more than 12% over the past 24 hours. Solana’s market cap currently stands at $68 billion, just a few hundreds of millions ahead of Cardano. Cardano (ADA) previously occupied third place behind Bitcoin (BTC) and (ETH). However, Binance Coin (BNB) experienced a surge in price to take over the third place while Tether (USDT) now occ...
