The rapidly growing but loosely regulated nonfungible token (NFT) industry already touches many areas of human endeavor “from academia to entertainment to medicine, art, and beyond,” wrote recently two United States senators in a letter to the U.S. Patent and Trademark Office (USPTO) and the U.S. Copyright Office. The legislators were requesting a study to…
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Is gold becoming inflationary? Can Bitcoin replace it as a store of value due to its scarcity and reliability? Are Uganda’s numbers implausible? Questions arise. Source link
Crypto exchange Binance has courted controversy almost from its 2017 beginnings, and five years later, the dustups continue. On June 6, the United States Securities and Exchange Commission was reported to be investigating whether Binance Holdings broke U.S. securities rules in launching its digital tokens. Meanwhile, on the same day, Reuters published a scathing 4,700-word…
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These can be anxious times for holders of cryptocurrencies, especially those who entered the market in late 2021 when prices were cresting. Bitcoin (BTC), Ether (ETH) and especially altcoins now appear to be undergoing a major reset, down 50% or more from November highs. Some worry that a whole generation of crypto adopters could be…
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TerraUSD (UST) is an algorithmic stablecoin that is pegged at $1.00. But, on the evening of May 19, it was trading for $0.083. This isn’t supposed to happen, of course, but last week UST, along with its affiliated coin Terra (LUNA), performed a sort of death spiral that “wiped nearly $50 billion of investor wealth…
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Government-issued electronic currency seems to be an idea whose time has come. “More than half of the world’s central banks are now developing digital currencies or running concrete experiments on them,” reported the Bank for International Settlements, or BIS, in early May — something that would have been unthinkable only a few years ago. The…
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Last week, 55,000 parcels of “virtual land” were sold on the Ethereum blockchain for more than $300 million, the largest nonfungible token (NFT) mint ever. It wasn’t without controversy. In return for shelling out close to $6,000, a purchaser received an Otherdeed NFT, which authenticates that buyer’s ownership of a patch of digital real estate…
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The Empire State made two appearances on the regulatory stage last week, and neither was entirely reassuring. On April 25, bill S8839 was proposed in the New York State (NYS) Senate that would criminalize “rug pulls” and other crypto frauds, while two days later, the state’s Assembly passed a ban on non-green Bitcoin (BTC) mining.…
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By many accounts, quantum computing (QC), which uses atomic “spin” instead of an electrical charge to represent its binary 1’s and 0’s, is evolving at an exponential rate. If QC is ever realized at scale, it could be a boon for human society, helping to improve crop yields, design better medicines and engineer safer airplanes,…
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It has long been believed that investors possessing inside knowledge help drive cryptocurrencies’ price volatility, and a number of academic papers have been published on this topic. This is why Coinbase’s intention to regularly publish in advance a catalog of tokens being assessed for listing on its prominent trading platform is noteworthy. Coinbase’s plans, announced…
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