Payments giant Square will change its corporate name to Block Inc., the company said in a statement Wednesday. Square Crypto, its subsidiary focused on funding Bitcoin development, is now called Spiral. The name alludes to Spiral’s focus, Bitcoin, as it continues to grow “like a spiral from a single point, encompassing more and more space until it touches everything,” Square…
Layer-two (L2) solutions for the Ethereum network have become a popular topic of discussion and speculation on their associated tokens backed the massive rally seen in many of the protocols this year. The parabolic growth of the decentralized finance (DeFi) and nonfungible token (NFT) sectors also led to a surge in the cost of carrying out simple transfers and this…
Interest in metaverse land, virtual real estate and the hottest new craze in crypto, is exploding: over $100 million was invested in it last week alone, according to crypto analytics site DappRadar. Metaverse land is virtual property in the form of NFTs, unique digital tokens that can represent ownership in just about anything online, such as art, audio or, in…
Riot Blockchain has bought the electrical equipment provider ESS Metron.The deal is valued at $50 million, paid in 715,413 Riot common stock shares and $25 million in cash.Denver-based ESS Metron is a crucial supplier to Riot’s Whinstone, Texas, facility. Bitcoin miner Riot Blockchain has acquired electrical equipment solutions provider ESS Metron, according to a press release published Wednesday. The transaction…
Bank Indonesia, the country’s central bank, is reportedly considering issuing a central bank digital currency (CBDC) to fight the use of cryptocurrency. “A CBDC would be one of the tools to fight crypto. We assume that people would find CBDC more credible than crypto,” said an assistant governor of the central bank. Central Bank Sees CBDC as Tool to ‘Fight…
Digital payments company Square announced that it has changed its company name to Block, seemingly in a shift towards blockchain technology. In a Wednesday tweet, Square said the rebrand will bring the payments firm together with Cash App, the decentralized Bitcoin (BTC) exchange project tbDEX, and music and video streaming platform Tidal. An accompanying news release said that Square Crypto,…
There’s mounting evidence that it’s been a big year for crypto derivatives, contractual agreements to buy or sell crypto assets based on future prices. The latest signal comes from a Glassnode report that notes excessive leverage (the high risk inherent in using a relatively small amount of capital to speculate on price movement) in derivatives markets makes them worth watching,…
What incentives does Bitcoin offer? Money accumulation, or is there any greater purpose and incentive for miners securing the network? Mining is a most important process of the Bitcoin network, yet relatively few actually understand it. I recently had the pleasure of speaking with Marty Bent, the laid-back Philadelphian with a penchant for Bitcoin mining and founder of Tales From…
Bitcoin is an “off-the-grid” alternative to the traditional financial system, SEC Chairman Gary Gensler said.Gensler joined former SEC chairman Jay Clayton on Wednesday to talk about Bitcoin, cryptocurrency, and ETFs.Issuers should “come within the investor protection remit” to launch a spot BTC ETF in the U.S., Gensler said. Bitcoin is a competitor to the U.S. banking system and its worldwide…
While non-fungible token (NFT) assets have been extremely popular in 2021, there’s been a slew of issues tied to the ecosystem as well. A recent report indicates that roughly a dozen artists are considering taking legal action against an NFT collection called “Art Wars” because their original artwork was sold as NFTs without their consent. NFT Collection Targeted Over Using…
