Federal Reserve Board Governor Christopher Waller says that stablecoins do not need to be regulated with all the same rules as banks. He disagrees with some of the recommendations on stablecoin regulation by the President’s Working Group on Financial Markets. He explained that while banks should be able to issue stablecoins, not all stablecoin issuers need to be banks. Fed’s…
In brief A DAO formed last week to buy a copy of the U.S. Constitution at auction. It’s raised over $30 million, well over the price at which the document is valued. In less than a week, the decentralized autonomous organization ConstitutionDAO has raised over $30 million in Ethereum to purchase a copy of the US Constitution that will be…
The below is a direct excerpt of Marty’s Bent Issue #1113: “Taproot kicks Jevons Paradox into another gear.” Sign up for the newsletter here. While many on Bitcoin and crypto Twitter are squabbling over the semantics in regards to the definition of a smart contract and how expressive Bitcoin’s smart contracting capabilities are, your Uncle Marty figured he’d take the…
It’s becoming difficult to find a professional sports league or team without at least a few cryptocurrency sponsors. Crypto.com revealed yesterday that it has acquired the naming rights to the Los Angeles arena formerly known as the Staples Center in a 20-year contract worth $700 million. This, in part, is likely what caused its Crypto.com Coin (CRO) to jump as…
There is potential for the use cases of nonfungible token (NFT) technology to expand far beyond the simple tracking of unique images with varying degrees of rareness and analysts project that one NFTs will touch every facet of our lives. Already, developers, artists and corporations are considering the tokenization of all assets and some have already experimented with NFT-based concert…
Israel-based StarkWare announced on Tuesday via Twitter that it had raised $50 million in a Series C funding round, and that the firm’s valuation is now at $2 billion. Sequoia Capital was the lead investor, among other contributors. Seven months ago, StarkWare raised $75 million in a Series B funding led by Paradigm. We are excited to announce our Series…
The fortitude of Bitcoin (BTC) holders continues to be tested on Nov. 17 as a number of attempts to push the price to $59,000 and below grow. This level has been well defended by bulls but analysts are still watching for the $63,000 level to be reclaimed as support before saying the “dip” has ended. While much of the recent…
According to a report from CNBC TV18 India, the nation’s government plans to reclassify cryptocurrency exchanges as e-commerce platforms, which will reduce the Goods and Services Taxes (GST) users must pay per transaction, or per trade, to 1%. Currently, the Indian Government levies an 18% GST on transactions conducted on registered cryptocurrency exchanges, which is passed to users as trading…
Bitcoin was made legal tender in El Salvador earlier this year on September 7, requiring all businesses to accept BTC as payment. But even with President Nayib Bukele’s mandate, many businesses have yet to adopt the needed technology to accept bitcoin for their products and services. Bitrefill aims to help in fixing this by offering a service that allows El…
Phil Spencer, Microsoft’s head of gaming, commented on his skepticism towards nonfungible tokens, or NFTs, in an interview with Axios: “What I’d say today on NFT, all up, is I think there’s a lot of speculation and experimentation that’s happening, and that some of the creative that I see today feels more exploitive than about entertainment.” As head executive of…
