Day: February 23, 2021

SoftBank to Buy WeWork Shares from Co-founder Adam Neumann

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WeWork is looking at a second attempt at a public listing and should complete a settlement with SoftBank. SoftBank and WeWork are in advanced talks about a settlement agreement with SoftBank Group Corp agreeing to a $480 million payout. Reports state that SoftBank’s agreed payout amount is worth approximately 25% of Adam Neumann’s shares in the company, half as many shares as it originally planned to purchase.  SoftBank is reportedly ready to spend almost $1.5 billion to purchase shares of early WeWork investors and employees according to the terms being discussed…

Research outlines how DeFi can merge with traditional finance

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Whilst public adoption of crypto assets is increasing, the global regulations continue to progress and recognise decentralized technologies as a suitable infrastructure for the dematerialisation of securities. In Luxembourg, the country that is second in the world in terms of assets under management, the country’s regulator adopted a bill that explicitly recognised the possibility of using distributed ledger technology for the dematerialisation of securities.  The regulation is moving quickly elsewhere across Europe: Tokenized securities now fall under the same rules and regulations as traditional financial instruments in many other European…

Francis Suarez, Miami’s pro-crypto mayor, to appear on Blockchain & Booze tonight

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Francis Xavier Suarez, the mayor of Miami and a firm Bitcoin proponent, will appear for a 30-minute fireside chat on Blockchain & Booze this evening. The episode, hosted by Adam Levy of blockchain venture studio and fund Draper Goren Holm, and streamed live from Cointelegraph’s Twitter account, will explore Miami’s emerging status as a global crypto hub, as well as Suarez’s civic leadership responsibilities. The chat will be followed by a half-hour-long AMA with guests from across the crypto industry. Suarez attracted the attention of the crypto industry in January…

Ark Invest's Cathie Wood talks bitcoin's prospects

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▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Bitcoin is likely heading higher thanks to support from major corporations such as Tesla and Square, says Ark Invest CEO, CIO and founder Cathie Wood. Subscribe to CNBC PRO for access to investor and analyst insights on bitcoin and more: » Subscribe to CNBC TV: » Subscribe to CNBC: » Subscribe to CNBC Classic: Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. The…

India’s Warren Buffet says Bitcoin hangover will be worse than the party

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The billionaire investor known as India’s Warren Buffet, Rakesh Jhunjhunwala, has voiced his support for India’s impending cryptocurrency ban, warning that the hangover from Bitcoin (BTC) mania will be worse than the party itself. Jhunjhunwala, speaking on CNBC’s Street Signs Asia segment on Feb. 23, said the Bitcoin party was one he’d rather not attend: “I think it’s speculation of the highest order. I don’t want to join every party in town. I think the hangover is much worse.” The headache from that hangover was felt to some extent on…

ECB wants final say on the legal status of private stablecoins in the EU

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The European Central Bank has finally sent its formal opinion on crypto regulations to the European Commission. According to Reuters, the ECB has asked EU lawmakers for veto powers concerning private stablecoin projects like the Facebook-backed Diem. An excerpt from the ECB opinion document reads: “Where an asset-reference arrangement is tantamount to a payment system or scheme, the assessment of the potential threat to the conduct of monetary policy, and to the smooth operation of payment systems, should fall within the exclusive competence of the ECB.” As part of the demand…

Tether to report reserves and pay $18.5M fine after settlement with NYAG

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Bitfinex and Tether settled with the New York Attorney General office in the landmark case against Tether. New York authorities alleged that Tether misrepresented the degree to which Tether (USDT) coins were backed by fiat collateral. The settlement requires Bitfinex and Tether to pay $18.5 million for damages to the New York State, as well as submit to periodic reporting of their reserves. The terms of the settlement mandate Bitfinex and Tether to report their current reserve status and budge, any transaction between the two companies, as well as provide…

An Island Surf Resort in the Pacific is Now Accepting Payment in Bitcoin

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Beran Island Resort, which is at the heart of the Marshall Islands, recently announced it is ready to accept BTC in settlements.  Crypto Adoption in the RMI The resort is advertising one of their packages dubbed ‘a trip to the middle of nowhere,’ where 15 friends can rent out the island to do exciting activities like fishing, surfing, and scuba diving, all for 1 BTC. According to the escape’s stakeholders, the move will target the tech-oriented younger generation. The Beran Island Resort, the highly acclaimed getaway, introduced BTC payment following…

Swedish regulators warn consumers against crypto as markets tumble

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Sweden’s financial regulator, Finansinspektionen, or FI, has issued a fresh warning to retail traders about the high risks and low consumer protections associated with crypto-related investments. In an announcement published on Feb. 22, the regulator wrote that while it had already issued a warning regarding the risks associated with Bitcoin (BTC) trading, it was publishing further advice following its completion of a wider study of the crypto asset sector. The FI says it has carried out a “thematic review of the market for financial instruments with underlying crypto-assets.” FI Director General Erik…

Air France pilots blockchain-based COVID-19 travel system

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With travel and tourism being one of the hardest-hit industries by the coronavirus pandemic-induced lockdowns, several stakeholders are increasingly prioritizing digital and contactless solutions. In this vein, Air France has partnered with MedAire, SGS, International SOS, and the International Chamber of Commerce to test a blockchain-based COVID-19 travel system. Beginning from March 11, Air France will begin the pilot test of the ICC AOKpass system developed by MedAire and the International SOS. The ICC AOKpass is an app that travelers can install on their smartphones that contains a secure record…