Month: January 2023

Is โ€œThe Howey Testโ€ outdated? Modernizing regulations for the digital age

The rate and reach of cryptocurrency adoption in recent years signals the dire need for modern regulations that simultaneously safeguards investors and enables innovation to flourish. As it stands, most crypto tokens fall within a regulatory gray area as they donโ€™t fit within the confines of the traditional financial system โ€” so why should they fall prey to inapplicable, outdated rules? Presently, the SEC applies โ€œThe Howey Test,โ€ a legal analysis based on a 1946 U.S. Supreme Court ruling, to differentiate between securities and non-securities. The SEC asserts that securities…

Genesis bankruptcy filing sparks various community responses

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As the crypto lender Genesis Global Tradingย filed for Chapter 11 bankruptcy protection in New York, members of the crypto community went on social media to express their thoughts on the matter.ย  From believing that no one will be held accountable to labeling the entire crypto lending concept as โ€œstupid,โ€ community members gave their thoughts on the newest addition to the seemingly never-ending bankruptcy spree within the crypto space. Some believe that the winners in all of these events will be bankruptcy lawyers. According to a community member who claimed to…

Ericsson Q4 2022 Earnings Report Sees Income Slide on Waning 5G Equipment Sales in Key Markets

Swedish telecoms giant Ericsson says despite its poor Q4 2022 earnings, it sees significant patent revenue growth in the next 24 months.ย  Ericsson recently reported a larger-than-anticipated decline in its Q4 2022 earnings statement. The Swedish telecommunications giant said its underwhelming fourth-quarter earnings are due to a slowdown in sales of 5G equipment in high-margin markets. The pullback in spending on 5G networks by some customers, most notably in the US, saw Ericsson shares decline to a four-year low. Furthermore, the multinational networking and telecommunications companyโ€™s latest report comes amid…

BTC, ETH, DOGE, and ADA Are Undervalued, Report Indicates

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Despite the increase in market capitalization, which shows investors might be returning, big large caps are still deemed undervalued. In a tweet posted today by blockchain intelligence firm Santiment citing the MVRV Z-score, Binance coin (BNB) is the only overvalued crypto amongst tokens with a large market cap. Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Cardano (ADA), Dogecoin (DOGE), Polygon (MATIC), Shiba Inu (SHIB), Uniswap (UNI), and Chainlink (LINK) are very much still undervalued. Price Outlook On BTC, ETH, And Undervalued Large Caps Santiment reported that BTC, ETH, XRP, ADA, DOGE,…

Somalia to Fight Inflation and Counterfeiters With New Banknotes โ€“ Africa Bitcoin News

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According to the deputy governor of the Somalian central bank, Ali Yasin Wardheere, the institution plans to fight inflation and currency counterfeiters with newly issued shilling banknotes. The bank reportedly said it hopes to complete the process of replacing old and high-value shilling bills with newly designed banknotes in 2024. Preserving the Value of New Money The Central Bank of Somalia (CBS) plans to replace old, high-value shilling bills that have been in circulation since 1991 with redesigned banknotes. The central bank hopes this process, which it expects to complete…

Sundance Film Festival embraces blockchain and crypto film initiatives

Web3 technologies continue to infiltrate various mainstream industries to bring innovation to old systems. This includes legacy creative fields such as the music industry and more recently, the film industry. This year, the Slamdance Film Festival, an oscar-accredited film festival for indie filmmakers, will see the premiere of the new film โ€œFuzzy Head,โ€ which received its funding through the blockchain-powered crowdfunding platform Untold.io.ย  Ali Aksu, the CEO of Untold.io, told Cointelegraph that filmmakers, as in the case of Fuzzy Head, can use blockchain technology to democratize their financing process and…

3HOUSE Web3 Investment Community Offers Comprehensive Web3 Investment โ€˜Campfireโ€™ Deep Divesย 

Place/Date: – January 20th, 2023 at 11:41 am UTC ยท 3 min read Contact: 3HOUSE, Source: 3HOUSE Photo: 3HOUSE 3HOUSE, the leading Web3 investment community, recently introduced a new initiative to provide comprehensive โ€œdeep divesโ€ for Web3 investors. The โ€œCampfireโ€ initiative is designed to help investors gain a deep understanding of investment principles and access high-quality information when making critical investment decisions in the rapidly growing and constantly evolving Web3 industry. Campfire is the 3HOUSE communityโ€™s fortnightly focus direction. Every two weeks, the development team, in collaboration with the community,…

Cameron Winklevoss Threatens Lawsuit after Genesis Filed for Bankruptcy

Winklevoss said this move will afford the firm to recoup its funds as the Barry Silbert-ledย  DCG has continued to refuse to offer its creditors a fair deal. Cameron Winklevoss, the co-founder and Chief Executive Officer (CEO) of the Gemini trading platform has threatened to sue Genesis Global and its parent company, the Digital Currency Group. Cameron took to Twitter to share the update following the bankruptcy filing lodged by Genesis involving two of its other subsidiaries. Cameron has been very vocal on social media about the complacency of Genesis…