Day: May 27, 2021

Carl Icahn Bullish Ethereum, May Invest $1.5B in Crypto

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Key Takeaways Carl Icahn told Bloomberg TV that he may invest up to $1.5 billion in the cryptocurrency space. Icahn spoke about inflation of the U.S. dollar and recognized Bitcoin and Ethereum as alternative stores of value. He added that he thinks crypto “is here to stay one form or another.” Share this article Carl Icahn is weighing up a big investment in the cryptocurrency space.  Carl Icahn Talks Crypto  Billionaire investor and former crypto skeptic Carl Icahn is considering buying into cryptocurrencies.  Speaking to Bloomberg TV Thursday, the 85-year-old…

US SEC wants to work with Congress to regulate crypto exchanges

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The United States Securities and Exchange Commission is looking to cooperate with Congress and other regulators to increase its oversight of cryptocurrency exchanges. Gary Gensler, the newly appointed chairman of the SEC, said that the commission is looking forward to working with fellow regulators and Congress to fill gaps in investor protection in crypto markets.  The official announced the plans at a Wednesday hearing before the Financial Services and General Government subcommittee of the House of Representatives. Gensler said that the SEC needs to provide similar protections for crypto exchanges that…

Austrian Post combines NFT and NFC tech for digital postage stamp

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Oesterreichische Post AG — Austria’s postal service — is set to adopt even more digital technology protocols for its nonfungible token (NFT) postage stamps. In a recent announcement, the Austrian Post revealed plans for incorporating near-field communication (NFC) chips in Crypto Stamp 3.0 — the third iteration of its limited-edition NFT postage stamp collectible series. These embedded NFC chips will allow stamp owners to verify the authenticity of the physical stamp based on metadata tied to the digital twin stored on the blockchain. Indeed, the Austrian Post made history back in…

Blockchain platform raises $12M to build javascript-like DApps

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Reach, a blockchain development platform for decentralized applications, has raised $12 million from investors to further its goals of simplifying the DApp creation process, the company announced on May 26. The latest funding round takes the total sum raised by Reach to $48 million, as the firm aims to produce a javascript-like programming language for use in building blockchain applications. At present, most major blockchains launch with their own unique programming languages, meaning the applications built on each platform are rarely compatible with any other. Reach launched in 2019, and…

Uniswap to Launch on Layer 2 Solution Arbitrum

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Key Takeaways Uniswap V3 is preparing to launch on the Layer 2 solution Arbitrum. More than than 40 million UNI tokens voted in favor of a governance proposal for the update. Uniswap V3 will also go live on Optimism when it launches. Share this article A proposal for Uniswap to deploy on Arbitrum has received immense support on the protocol’s governance forums this week. Following the vote, Uniswap will deploy its V3 contracts on the Layer 2 solution. Uniswap V3 Heads to Arbitrum  Uniswap is planning to launch on Arbitrum.…

Lack of knowledge is main barrier to crypto adoption, new survey says

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Among the many complications associated with cryptocurrencies like Bitcoin (BTC), a lack of knowledge and understanding of crypto is the biggest obstacle for wider adoption, according to a new survey. The Economist Intelligence Unit, the research and analysis division of the Economist Group, released a new report called “Digimentality 2021.” The study was commissioned by major payment and cryptocurrency platform Crypto.com and contains a consumer survey of 3,053 people conducted from February to March 2021. According to survey results, 51% of respondents said a lack of knowledge is the main…

Number of Bitcoin wallets holding 100–1K BTC soars after Tesla’s $1.5B buy-in

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The amount of Bitcoin (BTC) held by whales increased by around 14% after Tesla announced its foray into the cryptocurrency sector in early February 2021. The latest data from on-chain analytics platform Glassnode shows an inflow of roughly $19.5 billion worth of Bitcoin — according to current exchange rates — into wallets that hold at least 100 BTC and a maximum of 1,000 BTC. The deposits spiked right after Tesla revealed in its January securities filings that it had added $1.5 billion worth of BTC to its balance sheet. The…

Hong Kongers use blockchain to save evidence of anti-authoritarian struggles

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Blockchain’s potential to sustain a distributed, tamper-proof infrastructure for collective digital memory has taken on an unexpected political salience for citizens in Hong Kong.  Soon after Hong Kong’s public broadcaster Radio Television Hong Kong, or RTHK, revealed its intent to erase any archived content over one year old, residents hurried to save a trove of past news footage that had until now been freely available to the public. The reason for their haste was the recognition that RTHK’s archive contains critical coverage of the recent years of anti-authoritarian struggles and…

Restricting crypto trading to millionaires good for Hong Kong, says official

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Christopher Hui, Hong Kong’s Secretary for Financial Services and the Treasury has defended the recent proposal by the city’s Financial Services and the Treasury Bureau to ban retail crypto trading. In a speech delivered at StartmeupHK virtual fintech summit on Thursday, Hui said that the proposal was in line with the government’s plan to properly police the emerging crypto market. As previously reported by Cointelegraph, the FSTB issued a proposal after months of consultation, calling for a ban on retail crypto trading and the establishment of a strict regulatory regime…

Shark Tank’s Kevin O’Leary Reveals Move into DeFi

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Key Takeaways Kevin O’Leary is now the major shareholder in a DeFi company. The American investor told Anthony Pompliano that he would be increasing his crypto portfolio allocation and begin capturing yield farming opportunities in DeFi. O’Leary added that he sees big potential in the future of the space. Share this article ‘Shark Tank’ personality Kevin O’Leary appears to be doubling down on cryptocurrencies.  ‘Shark Tank’ Star Embraces DeFi  Kevin O’Leary is bullish on DeFi.  The Canadian businessman, who stars on the U.S. investment show ‘Shark Tank’, has confirmed that…