If there was any suggestion that the hype around Ordinals—a way of inscribing media onto the Bitcoin blockchain akin to NFTs—had died down, that idea was dashed today. The buzz is only getting bigger and wilder, especially now that someone figured out how to mint a form of “fungible tokens” using the Ordinals protocol. Ordinal inscriptions surged to a new…
If there was any suggestion that the hype around Ordinals—a way of inscribing media onto the Bitcoin blockchain akin to NFTs—had died down, that idea was dashed today. The buzz is only getting bigger and wilder, especially now that someone figured out how to mint a form of “fungible tokens” using the Ordinals protocol. Ordinal inscriptions surged to a new…
Media mogul Steve Forbes, chairman of Forbes Media, has warned that the Federal Reserve is “inflicting unnecessary pain” on the U.S. economy with its interest rate hikes after Fed Chair Jerome Powell said the Fed is prepared to raise interest rates at a faster pace. He also pointed out “the fundamental flaw in central bankers’ and most economists’ approach.” Media…
Fears have been heightened over the future of another United States bank this week after Silicon Valley Bank (SVB) announced a significant sale of assets and stocks aimed at raising additional capital. However, some investors may be concerned that not all is well at the tech startup and VC-focused bank, particularly given the closure of crypto bank Silvergate just a…
The price of the Bitcoin (BTC) briefly slipped below $20,000 for the first time in nearly two months, following the latest budget from United States President Joe Biden and the collapse of “crypto-bank” Silvergate. After a stellar start to 2023, the price of Bitcoin has failed to recover since it dropped 5% in 60 minutes on Mar. 3. It briefly…
Ethereum co-founder Vitalik Buterin’s latest salvo against “shitcoins” has ended up with him simply being sent more of it. Only days ago, the Ethereum developer made moves to sell over $700,000 of tokens previously airdropped to him, causing the price of these tokens to fall. Buterin has since continued his war on apparent “shitcoins.” In a Mar. 9 post on…
United States Congressman Tom Emmer believes the launch of programmable central bank digital currency (CBDC) in the country could strip American citizens of their financial privacy. Speaking at the Cato Institute, a Washington DC-based libertarian think tank on Mar. 9, Emmer explained that the programmable CBDC would be “easily weaponized” as a spying tool to “choke out politically unpopular activity,”…
Federal Reserve Chairman Jerome Powell has provided an update on the Fed’s central bank digital currency (CBDC) work in a hearing before the House Financial Services Committee. While stating that the Fed is “making progress on technological issues,” Powell stressed that “policy issues are equally important.” Fed Chair Powell on CBDC Progress During a hearing before the House Financial Services…
Bitcoin mining company Compass Mining claims to have found “three issues” in the ASIC design of the two new Antminer S19 miners, units that are primarily used to mine Bitcoin (BTC). These issues could result in the machines overheating and in some cases, completely breaking down. The firm’s mining operations team warned in its Mar. 6 post that “Miners need…
Our weekly roundup of news from East Asia curates the industry’s most important developments. South Korea invests another $51M in metaverse tech South Korea’s plans for metaverse domination are gathering pace. A Mar. 8 document prepared by the Ministry of Science and Information and Communication Technology (ICT), the National IT Industry Promotion Agency, and the Korea Radio Promotion Association, says…
