Global identity startup Worldcoin’s token WLD is a natural at swimming in crypto’s murky waters. A week after launch, its price is already up by 4.6%. As of this writing, it is changing hands at $2.37, down 1.4% since yesterday. This is despite the fact that governments and regulators around the world have expressed reservations… Read More 8/2: Worldcoin Token, MicroStrategy, and A Crypto Crash
Artificial Intelligence (AI) has been a hot topic this year and there have been many posts discussing its intersection with cryptocurrencies. Can the combination of AI, with its potential to reshape human existence, and cryptocurrencies, another supposedly world changing technology, produce a revolution? If Worldcoin, the latest project from OpenAI co-founder Sam Altman, is any… Read More Notes 7/24: Worldcoin, Crypto Markets
Well, that turned out to be an anticlimax. A bunch of publications – CoinDesk, Bloomberg, and The Block – yesterday published a makeup of controversial stablecoin Tether’s reserves in May 2021, after it had paid a penalty and settled with the New York Attorney General (NYAG) for commingling its reserve funds with those for sister… Read More Tether Reserves Reports Engineer Brief Loss of Peg for Its Stablecoin
It is time to take out the popcorn. The New York Attorney General’s office has handed documents related to its 2021 settlement with stablecoin issuer, Tether, to CoinDesk. The publication is said to be “reviewing” the documentation. Tether has never submitted its finances to a comprehensive audit; instead, it published attestations – snapshots of its… Read More Notes 6/16: Tether Documents, Ether As An “Other” Token, and Bitcoin ETFs Again
In yet another sign that the party might be coming to an end in crypto markets, more funds devoted exclusively to cryptocurrencies closed in the first quarter of 2022 than were launched in the same period. According to a new report from research firm Crypto Fund Research (CFR), only 11 new crypto funds were launched… Read More More Crypto Funds Closed Shop Than Launched In First Quarter: Report
About 90% of transaction volume on Bitcoin’s blockchain does not have much economic value and the cryptocurrency’s ownership is concentrated among relatively few investors. These are the results of a new study published by researchers from the Massachusetts Institute of Technology (MIT) and the London School of Economics (LSE). According to the authors, 90% of… Read More Bitcoin Ownership is Still Concentrated and 90% of Transactions On Its Blockchain Do Not Have Economic Value: Study
The approval of a Bitcoin ETF seemed imminent when Gary Gensler became the Securities and Exchange Commission (SEC) chief. In anticipation, several Bitcoin ETF applications were submitted to the agency. Going by Gensler’s recent statements, however, those applications will have to gather dust before his agency takes a look at them. The SEC Commissioner cautioned… Read More The SEC Isn’t In a Hurry to Approve a Bitcoin ETF But Crypto Isn’t Worried
While institutional funds are still trickling into Bitcoin, the cryptocurrency’s enthusiasts seem to have fixed their aim at another target – retirement accounts. ForUsAll, a San Francisco-based 401(k) provider, has partnered with Coinbase Global to launch Alt 401(k), a new investing platform designed to spur investments into cryptocurrencies and other alternative investments into retirement accounts.… Read More Bitcoin in 401(k)s. Too Soon?
Telecom giant AT&T announced yesterday that it has begun accepting Bitcoin for bill payments. The company has partnered with bitcoin payments company BitPay to facilitate the transactions. According to Kevin McDorman, vice president, AT&T communications, AT&T already has customers who use cryptocurrency. “…we are happy we can offer them a way to pay their bills… Read More AT&T Goes Crypto, Begins Accepting Bitcoin for Bill Payments
A New York Times report this morning confirms that the Wall Street bank, which has a storied history, plans to begin trading the newest investment instrument on the block in the next few weeks. According to the report, Goldman will use its own money to trade bitcoin futures contracts and is working to develop a new type of derivative – non-deliverable forward (probably named so because bitcoin futures are cash-settled)… Read More Goldman Sachs Confirms Bitcoin Trading Plans
Traders swung between the optimism and gloom over bitcoin’s future prospects as cryptocurrency markets crashed below $300 billion before recovering this morning. The price of a single bitcoin, which had been on a steady decline since the middle of last week, wobbled to $7,370 Sunday morning. At 15:05 UTC, it had recovered to $8,635. The… Read More Bitcoin Price Skedaddles On News Twitter Might Ban Crypto Ads
Lightning Labs has launched a beta version of the first tested version of its software for Lightning Network, the technology which is expected to solve bitcoin’s scaling problems. The software is called LND and uses bitcoin and litecoin currently. Lightning Network decreases transaction costs and increases their speeds by making it possible to open channels… Read More First Version Of Lightning Labs Software Released