press release PRESS RELEASE. The next-generation NFT Infrastructure – Label Foundation has announced the successful completion of its private sale round. Supported by many leading VCs and famous Grammy-winning artists, the NFT platform raised $1.0 million during the private sale that generated major interest from top investors and venture capitalists in the finance and blockchain industries. A major milestone for…
Shiba Inu (SHIB), the recently surging Dogecoin-inspired ERC-20, suffered a 20% retracement in two hours as Tesla founder and hypothetical Doge CEO Elon Musk announced to Twitter that he doesn’t hold any Shiba Inu tokens. The retracement came after SHIB surged past its previous all-time high to tag a local top of $0.000044 on Oct. 24 following a more than…
A blockchain is a growing list of records, called blocks, that are linked together using cryptography. Each block includes a cryptographic hash of the previous block, a timestamp, and transaction data (typically represented as a Merkle tree). The timestamp shows that the transaction information existed when the block was released in order to get into its hash. As blocks each…
The Nigerian President, Muhammadu Buhari, is expected to formally launch the country’s central bank digital currency (CBDC) on October 25, 2021. High-Level Endorsement of the CBDC According to a statement released by the Central Bank of Nigeria (CBN), the formal event marking the e-naira’s launch will be held at the Buhari’s official residence. After the initial launch was postponed due…
New York-based decentralized prediction market Polymarket has come under investigations from the United States Commodity Futures Trading Commission (CFTC). According to an Oct. 23 report from Bloomberg citing anonymous sources, the CFTC is investigating whether Polymarket is allowing its customers to trade binary options and swaps that should be registered with the financial regulator. The CFTC is yet to confirm…
Twitter and Square CEO Jack Dorsey has warned that hyperinflation will soon happen in the U.S. and elsewhere in the world. “Hyperinflation is going to change everything. It’s happening,” he predicted. Many people disagreed with him, however. US Will Soon Experience Hyperinflation, Says Twitter CEO Jack Dorsey The CEO of Twitter and Square Inc., Jack Dorsey, tweeted a warning about…
Tesla (TSLA.O) employer Elon Musk’s sudden u-turn over approving bitcoin to purchase his electrical cars has thrust the cryptocurrency’s energy use into the headlights. Some Tesla investors, in addition to environmentalists, have been significantly critical concerning the means bitcoin is “mined” making use of substantial amounts of electrical power created with fossil fuels. Musk stated that he backed that concern, especially…
Summary Of The Week It isn’t every week that bitcoin sets a new all-time high, so this week was filled with celebration, especially as the first two bitcoin ETFs in the U.S. launched, sending retail investors into a buying frenzy as the green candles continue. With inflation in some of the world’s biggest economies on a rise, economies struggling to…
Cryptocurrency, crypto-currency, or crypto is a collection of binary data which is created to work as a medium of exchange in which private coin ownership records are kept in a journal which is a computerized database utilizing strong cryptography to secure transaction records, to control the creation of extra coins, and to verify the transfer of coin ownership. Some crypto…
Bitcoin (BTC) has a long history of forming local tops when events that are anticipated by the market occur. The recent Bitcoin exchange-traded fund (ETF) launch on Oct. 19 was no different and led to a 53% monthly rally to an all-time high at $67,000. Now that the price has briefly fallen below $60,000, investors are attempting to understand if…
