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Amazon Launches Its Own Alexa-Powered TV and El Salvador Officially Adopts Bitcoin in This Week’s Business and Crypto Roundup
Many brands are starting to see a recovery despite the challenges initially brought on by the pandemic. Some businesses, especially ones that focused efforts on expanding e-commerce ventures, have even seen profits rise even higher than before. HYPEBEAST has rounded up the top business and crypto stories of the week so you can stay in the know about trends across industries. Business 1. Amazon officially announces its own Alexa-powered TV The Amazon Fire TV Omni Series will be the brand’s more premium collection, while the Amazon Fire TV 4 Series will offer more accessible models. Amazon also announced a series of other new devices within its Fire TV range. 2. A federal judge has issued a ruling in the Apple versus Epic Games lawsuit The ruling orders Apple to make cha...
Slow to start: Crypto regulators lagging behind blockchain industry
As if he didn’t have enough to do, Gary Gensler appeared before the European Parliament on Sept. 1 to share his policy recommendations regarding the regulation of crypto assets and other matters. While the United States Securities and Exchange Commission Chair made clear that he was presenting his own views — not those of the Commission — his (virtual) appearance necessarily raised questions. Does Gensler, regarded by some as America’s most crypto-savvy regulator, believe that cryptocurrency and blockchain policy has to be harmonized globally? If so, can he make common cause with the Europeans — or do the U.S. and the European Union have different priorities? More generally, are globally harmonized regulations even feasible, particularly in areas such as decentralized finance? The question...
Finance Redefined: DeFi’s $4M lobsters and Solana gaming, Sept. 6–10
Welcome to the latest edition of Cointelegraph’s decentralized finance, or DeFi, newsletter. In a week where the crypto market bears returned for blood, DeFi enlisted an army of lobsters to fight its feuds. While we ponder a feasible battleground for that mammalian–invertebrate combat, feel free to scroll on and read the top choices for the week’s most impactful stories. What you’re about to read is a shorter, more succinct version of the newsletter. For a comprehensive summary of DeFi’s developments over the last week — delivered to your inbox quicker than a food delivery order in lockdown — subscribe below. Fishing for finance Lobby Lobsters joined the burgeoning list of animal-themed nonfungible token (NFT) projects this week, showcasing the genuine power of community-centric NFT campai...
Diem struggling to win over officials in Washington despite rebranding efforts
Facebook’s ambitious digital currency payment project Diem is yet to get off the ground despite concerted attempts to win over financial regulators. According to The Washington Post on Friday, Diem is facing difficulties smoothening regulatory wrinkles with senior policymakers in the Biden administration. Even with the full weight of Facebook’s significant lobbying power in Washington, the digital currency project is yet to get off the ground. Reports indicate that David Marcus, Facebook Financial (F2) head, met with regulators in Washington earlier in September. According to anonymous sources reportedly present at the meeting, Marcus argued for the importance of crypto in broadening access to financial products while highlighting the benefits of Diem’s payment app Novi. Diem represen...
Price analysis 9/10: BTC, ETH, ADA, BNB, XRP, SOL, DOGE, DOT, LUNA, UNI
Bitcoin’s recent plunge does not seem to have shaken the investors and data shows that exchange reserves were down to 2.399 million (BTC), which is close to the May all-time low at 2.390 million Bitcoin. Ki Young Ju, CEO of on-chain analytics platform CryptoQuant, said this could result in a “sell-side liquidity crisis on Bitcoin.” Although Bitcoin has outperformed gold by a huge margin in 2021, Omega Advisors chairman and CEO Lee Cooperman remains averse to investing in it because he said that he does not understand Bitcoin. The billionaire investor still considers gold to be a better store of value. Daily cryptocurrency market performance. Source: Coin360 A new poll from research and data analytics firm YouGov showed that 43% of baby boomers strongly oppose the idea of Bitcoin being...
NAMM Nudges Winter Gathering to June, Citing Pandemic Challenges
No more NAMM Show in Nashville, in 2022 at least. The National Association of Music Merchants (NAMM) is delaying its winter show to June, when the music trade show will be held in-person at the Anaheim Convention Center in Anaheim, Calif. The show, where exhibitors showcase the latest in music gear and technology, was originally scheduled for Jan. 20-23 of next year. But according to a press release, concerns over the pandemic, new product development, available in-store inventory and travel restrictions led organizers to move the show to June 3-5. The new event, called The NAMM Show, will combine its winter and summer conferences, the latter usually held in Nashville. “The industry has not stopped evolving and innovating during the pandemic, and The NAMM Show is evolving as well,...
J.J. Cheng Named President of Latin-Focused Digital Service TuStreams
J.J. Cheng has been named the new president of all-Latin digital distribution company TuStreams, Billboard can exclusively announce. Cheng’s appointment to the Los Angeles-based position, which oversees global business strategies, was announced by TuStreams founder and CEO Tony Larios and is effective immediately. Calling her a passionate and “impactful global Latin music leader,” Larios said in his announcement that Cheng’s “cool demeanor and mastery of digital monetization, new strategic technology models to increase royalty profits, and data analytics in publishing and sound recordings are unmatched as a top authority in the space of public performance.” In her new role, Cheng, an award-winning music executive with a more than 20-year trajectory, and who wa...
Ed Sheeran Is Bringing ‘Shivers’ to the 2021 MTV Video Music Awards
This Toyota Stage performance marks his first VMAs performance since 2017, when he sang his smash “Shape of You” in tandem with Lil Uzi Vert, who performed his hit “XO Tour Llif3.” Sheeran took home the inaugural artist of the year award that year. That was Sheeran’s second VMA win. He won his first, best male video, in 2014 for “Sing” (featuring Pharrell Williams). Sheeran’s fourth solo studio album, =, is due Oct. 29. Doja Cat is set to host and perform on the 2021 MTV Music Awards, which will air live from Barclays Center on Sunday, Sept. 12, at 8 p.m. ET/PT on MTV. Other artists set to perform on this year’s VMAs are Camila Cabello, Lil Nas X & Jack Harlow, Machine Gun Kelly, Olivia Rodrigo, Foo Fighters, Shawn Mendes & Tainy, Twenty One Pilots, Kacey Musgra...
EOS, AVAX and Enjin coin price analysis: bears regain control
The bears have regained control of the market, and the prices of most cryptocurrencies have been down by more than 2% in the past 24 hours The cryptocurrency market has resumed its bearish run after the bulls briefly took control yesterday. The prices of most cryptocurrencies are now down by more than 2% in the past 24 hours. The bearish sentiment could extend well into the weekend, and that could result in more losses for most cryptocurrencies. EOS price outlook The EOS/USD 4-hour chart is deeply bearish at the moment, and the losses could extend over the coming hours. EOS is trading at $4.70 at time of writing, but it could drop towards the first major support level at $4.25 if the current bearish sentiment continues. An extended EOS sell-off could see the cryptocurrency struggle to trad...
System bug destroys $100,000 worth NFTs on OpenSea
Over 21 transactions from 30 accounts have been affected by the bug Peer-to-peer non-fungible tokens (NFTs) and collectables marketplace OpenSea has been infected by an internal system bug that has led to the wiping out of user-owned NFTs worth 28.44 ETH. The crypto unicorn which recently raised $100 million via crowdfunding in August is the largest consumer of Ethereum gas fees. The issue came to light when Nick Johnson, a lead developer of the Ethereum Name Service (ENS) attempted to transfer an NFT of the first ENS, rilxxlir.eth, from an ENS account to a personal account. However, instead of executing the request, the OpenSea platform transferred the NFT to what is currently believed to be a burn account. Johnson took to Twitter to share his experience and revealed that the owner...
Weekly report: El Salvador’s Bitcoin adoption becomes official
The cryptocurrency market was rife with activity this week as adoption continued despite a sudden price crash El Salvador’s Bitcoin adoption is now official It is official! Bitcoin is now legal tender in El Salvador. The leading cryptocurrency made headlines earlier this week after becoming the first digital currency in the world to become legal tender in a country. The El Salvador parliament adopted the bill to make Bitcoin legal tender in June, and now the bill has come into effect. Thanks to this latest development, businesses and companies operating in the country have to accept BTC as a means of payment from their clients. An executive at Fidelity Investments believes that Bitcoin will now be tested as a medium of exchange after El Salvador’s adoption Jurrien Timmer told CNBC th...
Bitcoin transactions ‘akin to bartering,’ Bank of Mexico governor says
The governor of the Bank of Mexico, Alejandro Díaz de León, dismissed Bitcoin’s (BTC) position as a reliable legal tender, citing price volatility as a major roadblock toward full-fledged adoption. Díaz de León said in a Reuters interview that Bitcoin’s position in today’s financial system resembles “a dimension of precious metals” when compared to the central bank’s fiat money. In stark contrast to El Salvador’s mainstream Bitcoin adoption that requires businesses to accept payments in Bitcoin, Mexico’s central bank chief questioned Bitcoin’s position as a viable legal tender: “Whoever receives bitcoin in exchange for a good or service, we believe that (transaction) is more akin to bartering because that person is exchanging a good for a good, but not really money for a good.” Díaz ...
