Day: December 16, 2021

Global Markets, Bitcoin Defy Expectations After Fed’s Hawkish Taper Plan Announcement – Economics Bitcoin News

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Global markets have defied predictions as the U.S. Federal Reserve and several central banks worldwide are prepping to slow down monetary easing policy. On Wednesday, the U.S. central bank’s Federal Open Market Committee (FOMC) said it plans to taper quantitative easing (large monthly asset purchases) and end the program by March 2022. Moreover, the FOMC members decided to keep interest rates at zero but expect at least three rate hikes next year. Federal Reserve Outlines Asset Purchase Tapering Plan and Rate Hikes for 2022 Since the onset of Covid-19 in…

US Senate confirms CFTC chair as President Biden announces commissioner picks

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Congressional lawmakers confirmed the nomination of Rostin Behnam, a commissioner at the Commodity Futures Trading Commission who had been serving as acting chairperson, to assume his position on a more permanent basis. In a Wednesday evening voice vote, members of the U.S. Senate approved President Joe Biden’s pick to lead the CFTC. Behnam has served as a commissioner since 2017 and acting chair following the departure of Heath Tarbert in January. Confirmed by voice vote: Executive Calendar #539 Rostin Behnam to be Chairman of the Commodity Futures Trading Commission. —…

Crypto Exchange FTX Inks International Rights Deal With NBA’s Golden State Warriors

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One of the world’s leading crypto marketplaces continues its push to take the industry mainstream by teaming up with one of professional basketball’s top franchises. In a new announcement, the San Francisco-based Golden State Warriors say they have joined forces with FTX US as the team’s official cryptocurrency platform and distributor of non-fungible tokens (NFTs). This is also the first time the Warriors have signed on with an international rights partner. Team president and chief operating officer Brandon Schneider says of the deal, “Cryptocurrency has a well-established worldwide community and…

Why I Spent $29M on a Beeple

Before this year, crypto was a cult. In 2021, crypto became culture. The movement was both catalyzed and led by the standard-bearer of digital art, Mike Winkelmann, known to the world as Beeple. No one in crypto had predicted that art would be what would bring crypto into the mainstream before this year, but here we are, and I am very grateful for the new energy and new entrants into our community. Human One, Beeple’s masterpiece digital sculpture, capped the year as perhaps the most important non-fungible token (NFT) ever…

ConsenSys launches Rollups for privacy-enabled transactions on Ethereum blockchain with support of Mastercard

On Thursday, ConsenSys, a prominent developer of Ethereum (ETH) software, announced the launch of enterprise software ConsSys Rollups. The service, designed on the basis of zero-knowledge (ZK) proofs, is meant to protect specific transaction elements, such as account balances, sender and recipient wallet addresses, and transaction amounts to secure each user’s privacy. Zero-knowledge proofs enable the validation of sensitive encrypted information, such as personal data, by nodes without revealing the data underneath. Such cryptographic techniques have gained enormous popularity in recent years, as users fear their crypto transactions are at-risk…

Why Gamification Will Drive Wider Blockchain Adoption

Once Vitalik Buterin’s trilemma is solved, what’s the blockchain space to do? The trilemma, briefly, is that proof-of-work blockchains can make transactions secure, decentralized and scalable – as long as you pick only two out of three. This technological bottleneck, some would say, has held back crypto adoption more than any other single factor. While pioneering ecosystems like Bitcoin and Ethereum focused on security and decentralization, compared to legacy payment processors they moved at a crawl. A dozen years later, though, proof-of-stake protocols have turbocharged blockchains. Still, proclaiming, “Hey, come…

Universities including Berkeley, MIT, Harvard, Oxford to form EduDAO to promote Web 3 innovations, financed by BitDAO treasury

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On Thursday, BitDAO, one of the world’s largest decentralized autonomous organizations with over $2.5 billion assets under management, and its partner Mirana ventures announced the creation of EduDAO with eight of the world’s top universities including University of California Berkeley, MIT, Harvard and Oxford University. EduDAO is financed by the BitDAO treasury, and will allocate $11 million in funding each year project grants, research, and standalone product development with $33 million in initial capital. The funds will go to academic research for next-generation blockchain and Web 3 technologies. EduDAO is…

Congressional Candidate Kurani Dropping 2,022 Solana NFTs as Part of Campaign

Shrina Kurani, a Democrat running in California’s 42nd Congressional District, will publish 2,022 non-fungible tokens (NFTs) on the Solana blockchain today as part of her election campaign. The NFTs – digital tokens representing “vision and concept statements” and potential Web 3 policy agenda items linked to addresses on the Solana blockchain – are intended to bring the crypto industry into Kurani’s campaign to win a seat on the House of Representatives. “There’s a lot of misunderstanding in terms of what crypto is, what crypto can be, the direction that it’s…

Peter McCormack acquires local sports club Bedford FC with Premier League ambitions

Peter McCormack, a well-regarded Bitcoin investor and advocate, has announced the purchase of local Englishfootball club Bedford FC, divulging ambitions in a fourteen-tweet thread to fuel the club’s prosperous aspirations through the leading cryptocurrency asset, Bitcoin. McCormack said he intends to architecture the club with “Bitcoin at its heart”, introducing everything from merchandise and sponsorship endorsements, an education training program for fans and community members, as well as facilitating open-source development opportunities. By pledging to utilize his social audience, which currently totals over 430,000 on Twitter, as well as the…