Day: July 30, 2021

Ethereum London Hard Fork to Make Some Tokens Worthless

In the run-up to the London hard fork, the Ethereum upgrade slated for the early hours of August 5, much of the talk has been around EIP-1559, a contentious code change that will burn transaction fees, taking some ETH out of circulation. But those aren’t the only tokens the London upgrade will do away with.

Who’s the Ethereum Whale Buying Up All the CryptoPunk NFTs?

If you were waiting to get a CryptoPunk, your chance to buy one for a reasonable price may be dwindling. That’s because an Ethereum whale has been on a CryptoPunk buying spree. A wallet purchased over 100 of them on Friday evening at prices from 24 to 29 ETH. That’s an outlay of over $6

Kentucky Joins Growing List of States Targeting BlockFi’s Bitcoin Savings Accounts

Interest isn’t the only thing compounding at crypto lender BlockFi. Its regulatory troubles are compounding too. The company has ceased offering BlockFi Interest Accounts (BIAs) to Kentucky residents after receiving a cease-and-desist order Friday from the Kentucky Department of Financial Institutions (DFI), according to a tweet. It’s now been hit by cease and desists or

Gary Vaynerchuk Just Paid $3.7 Million in Ethereum for a CryptoPunk NFT

Gary Vaynerchuk—wine blogger, media mogul, consummate crypto bro—just spent 1,600 Ethereum on a CryptoPunk NFT. That’s about $3.7 million. CryptoPunks are among the oldest and most prized NFTs: crypto collectibles that can be bought and sold as proof of ownership for files on the internet. The images themselves are tiny, pixelated mugshots meant to be

Genre DAO: How an LA Record Label Is Pushing Into the Crypto Era

For the past decade, Leaving Records has been responsible for some of the most consistent and diverse experimental music coming out of LA. While the word “genreless” emerged as a catch-all descriptor for a new wave of Gen-Z musicians, Matthew David McQueen—the label’s founder—took the opposite tack: What if we thought about music as “all-genre”?

Congress Likely to Pass $550 Billion Infrastructure Bill That Threatens to ‘Kill’ Crypto Industry

A bridge collapses in suburban Minnesota, bad pipes make drinking water unsafe in urban Michigan, and the internet goes dead in rural Kansas. The $550 billion answer to solving such issues is the in-progress bipartisan infrastructure bill being hashed out in the Senate. But the price to pay may be steep for those in crypto,

Man Behind Steven Seagal-Touted ICO Facing 5 Years in Prison

The U.S. Justice Department announced Friday that John DeMarr, a 55-year-old man from California, had agreed to plead guilty to one criminal count of securities fraud, which carries a maximum prison sentence of five years. His sentencing is scheduled to take place on Jan. 4, 2022. DeMarr participated in a multi-million securities fraud scheme linked

Bitcoin’s Worst Kept Secret: US Traders Still Evade Foreign Exchange Restrictions

U.S. traders continue to easily evade foreign cryptocurrency exchange restrictions to make money on risky Bitcoin bets, according to a new report. Crypto derivatives traders from the U.S. can get around bans aimed at stopping them from using exchanges like Binance and FTX simply by using a virtual private network (VPN), which masks a user’s

What Are Stablecoins and How Do You Use Them?

Since their inception, cryptocurrencies cryptocurrencies have been considered particularly volatile investment instruments when it comes to their price. That’s led to price jumps and crashes, preventing cryptocurrencies from being used for everyday goods and services in some cases, due to the risks for vendors and merchants. That’s where stablecoins stablecoins come in. The theory goes,

$45 Billion Asset Manager GoldenTree Has Bitcoin on Its Balance Sheet

Investment firm GoldenTree Asset Management, which was founded by vulture investor Steve Tananbaum back in 2000, has been buying Bitcoin for years, according to a July 30 report by The Street that cites anonymous sources with knowledge of the matter. The asset manager—which controls $45 billion worth of assets—treats the flagship cryptocurrency as a portfolio

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