Day: February 25, 2022

Sotheby’s Cancels Cryptopunks NFT Auction After Consignor ‘Decided to Hodl’ Collectibles – Bitcoin News

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On February 8, the multinational luxury auction company Sotheby’s announced the firm would be auctioning 104 Cryptopunk non-fungible token (NFT) collectibles, but before the event started Sotheby’s canceled the event. It seems “0x650d,” the owner of the Cryptopunks NFTs, decided to keep the assets that were estimated to fetch around $20 to $30 million at auction. Cryptopunks Owner Decides to Keep 104 NFTs, Sotheby’s Forced to Cancel ‘Punk It’ Auction The luxury auction house had to cancel an NFT auction dubbed “Punk It” on Wednesday after the consignor decided to…

ETHEREUM MIGHT SERIOUSLY CRASH ON MONDAY – Calm Before The Storm

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Block nets $1.18B Q4 gross profit marking a 47% YoY increase

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Crypto-friendly digital payments tech firm Block, Inc. (formerly known as Square) posted $1.18 billion worth of gross profit in Q4, representing a growth of 47% over the same period in 2020. The firm led by Bitcoin maxi Jack Dorsey has multiple business arms including Cash App, Square, and the freshly acquired buy now pay later (BNPL) firm Afterpay after the $29 billion deal officially closed at the end of last month. Block’s 2021 Q4 report was posted on Feb. 24, and the firm revealed significant gross profit increases across Cash…

Snow Crash’s Metaverse was filled with ads in 1992, and the real one will be too

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Neal Stevenson’s Snow Crash, a techno-dystopian science-fiction novel that has become a legend among Silicon Valley tech bros, predicted the rise of a future Metaverse all the way back in 1992.  Despite Stephenson saying that he was “just making sh*t up”, the eerily accurate predictions and worldbuilding of Snow Crash have been long-revered by tech entrepreneurs and futurists including Jeff Bezos and Mark Zuckerberg. Now, Stephenson’s striking fictional depictions of a Metaverse oversaturated with the neon glow of commercial advertising rings truer than ever as Web3 designers and marketers gear…

BitMEX founders plead guilty to Bank Secrecy Act violations

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The founders of crypto exchange BitMEX have pled guilty to violating the Bank Secrecy Act after a lengthy litigation process with the U.S. Department of Justice (DOJ). American Arthur Hayes and British Hong Konger Benjamin Delo admitted to “willfully failing to establish, implement, and maintain an anti-money laundering (AML) program” at their crypto derivatives and futures exchange, BitMEX. BitMEX is a Seychelles-based crypto trading platform that offers crypto futures, derivatives, and margin trading up to 100x. The exchange once offered its services without any know-your-customer (KYC) or AML verification procedures…

A Play to Earn Mobile Game That’s Building It’s Own Universe – Press release Bitcoin News

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press release PRESS RELEASE. NoVa Battles is a PlayToEarn mobile MOBA game developed with the core focus on implementing blockchain technology. The company started conceptualizing the prospect of a blockchain game back in 2019, after which they have been experimenting with designs, systems, and partnerships for two years. The drive to build an open ecosystem for all stakeholders requires extensive analysis before implementation. The NoVa Battles team has decided to develop a simplistic game design and game economy controlled by the community’s votes and needs – a decentralized autonomous organization…

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Ethereum Recovery Runs Into Resistance, Why Dips Could be Limited

Ethereum found a strong support near the $2,300 zone against the US Dollar. ETH price is rising and might rally if it clears the $2,750 resistance zone. Ethereum started a major recovery wave from the $2,300 support zone. The price is now trading above $2,500 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $2,520 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if there is a clear move above the $2,750 resistance…

India Unveils Guidelines for Crypto Advertising – Regulation Bitcoin News

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The Advertising Standards Council of India has released guidelines for the advertising and promotion of crypto assets and related services. “We had several rounds of discussion with the government, finance sector regulators, and industry stakeholders before framing these guidelines.” India’s Crypto Ad Guidelines Published The Advertising Standards Council of India (ASCI) published Wednesday “guidelines for advertising and promotion of virtual digital assets and services.” The guidelines are applicable to all advertisements related to virtual digital assets (VDA) which are “commonly referred to as crypto or NFT [non-fungible token] products,” ASCI…