Prices of the NFT collection have soared in the past two days. Source
Dogecoin-Like Spike in Milady NFTs After Elon Musk’s Tweet, But Will it Last?
Day: May 12, 2023
Lawsuit against FTX celebrity promoters gets backup from former exec
A class action lawsuit against celebrities who allegedly promoted the now-bankrupt FTX has scored the cooperation of a former exchange executive — ex-compliance chief Daniel Friedberg. A May 11 proposed amended complaint filed in a Florida District Court from the class action lawyers said Daniel Friedberg provided evidence that promotional activity for FTX originated from Florida. Friedberg was the chief regulatory officer at FTX and the chief compliance officer of FTX US, the exchange’s United States arm. The declaration could potentially rebut a key defense made by some of the…
Taboo raises $10m to expand entertainment platform
Taboo, an entertainment platform that prioritizes user privacy and is censorship-resistant, has raised $10m at a $250m valuation. TABOO’s blockchain content creation and distribution Taboo offers users a secure environment to share their thoughts and ideas without fear of surveillance or censorship. The platform leverages blockchain technology and cryptographic protocols to keep user data private and secure while enabling users to retain full control over their data. Additionally, Taboo uses its native TABOO token to incentivize content creators and facilitate on-chain transactions. The successful fundraising highlights the potential of Taboo’s unique value proposition.…
Large Immersion Cooled Crypto Mining Farms to Extract Bitcoin in Middle East Desert – Mining Bitcoin News
A project to build two large-scale facilities for cryptocurrency mining is underway in the United Arab Emirates (UAE). The high-tech data centers will rely on a full immersion solution to cool the power-hungry miners as the desert climate renders air-cooled mining infeasible, participants said. Advanced Crypto Mining Facilities in Abu Dhabi to Defy Cooling Challenges in Arab Peninsula Marathon Digital Holdings, a leading U.S.-based crypto mining company, and emerging blockchain infrastructure developer Zero Two, are working to launch what they say will be the Middle East’s first immersion bitcoin mining…
surprising allies who benefit each other
In recent years, both blockchain technology and cloud computing have been two notable trends shaping the digital landscape. Blockchain, which originated as the underlying technology for cryptocurrencies, has evolved into a versatile solution that can support various use cases beyond finance. Meanwhile, cloud computing has changed the way businesses and individuals utilize and store data, enabling them to access vast amounts of computing resources without having to invest in on-premises infrastructure. While blockchain and cloud computing may seem like two distinct technologies, they share some common features and complementary strengths.…
Memecoins are like Powerball for crypto fans: Matrixport exec
Memecoin buyers are playing the crypto-equivalent of Powerball — with many “playing” hoping for “life-changing money” yet only a few will walk away with the jackpot, says Matrixport’s head of research. Memecoins have seen a huge resurgence over the last week. Crypto tokens such as Pepe (PEPE) and Milady (LADYS) have boasted staggering price surges despite each having little to no discernable utility. Speaking to Cointelegraph on May 10, Matrixport’s Markus Thielen suggested some buyers of memecoins bear resemblance to those that participate in the lottery. “There are numerous studies…
French Crypto User Jailed and Fined €3.4 Million for Illegal Use of Cryptocurrency in Morocco
A 21-year-old French crypto user, Thomas Clausi, has been handed an 18-month prison sentence and a hefty €3.4 million fine in Morocco for the illegal use of cryptocurrency. Clausi was found guilty of “fraud” and “illegal use of cryptocurrency” by the Moroccan courts, which consider the use of cryptocurrency illegal. The case against Clausi began in 2021 when he used Bitcoin to purchase a luxury car, which Moroccan customs deemed an illegal transfer of funds. He was arrested in December 2021 and sentenced last October to prison time in addition…
Binance.US seeking to cut Changpeng Zhao’s majority stake: Report
Crypto exchange Binance US and its founder Changpeng Zhao (CZ) are reportedly looking for ways to reduce his stake in the firm, amid harsh scrutiny from United States federal regulators over the past year. The crypto executive — Binance US’ majority owner — has reportedly been trying to reduce his stake in the U.S.-based exchange since last summer, according to a report by the Information on May 11 citing people familiar with the matter. Binance and Changpeng Zhao have seen intense scrutiny from United States federal regulators over the past year.…
SEC Chair Warns US Default Would Have ‘Significant’ and ‘Lasting Effects’ on Investors, Markets – Economics Bitcoin News
Securities and Exchange Commission (SEC) Chairman Gary Gensler has warned that the U.S. Treasury defaulting on its debt obligations “would have very significant, hard to predict, and likely lasting effects on investors, issuers, and markets alike.” Gensler stressed: “We’ve already seen an effect in the pricing and liquidity of short-dated Treasury bills and continue to monitor for any additional tremors.” SEC Chair Gary Gensler on U.S. Debt Default The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has weighed in on the impact a U.S. default would…
US Chamber of Commerce slams SEC’s ‘haphazard’ regulation efforts
The United States Chamber of Commerce has blasted the Securities and Exchange Commission (SEC) for its “haphazard, enforcement-based approach” to regulating the cryptocurrency industry on American soil. In an amicus brief filed to the U.S. Court of Appeals on May 9, the U.S. Chamber of Commerce threw its full weight behind Coinbase, accusing the SEC of deliberately creating a precarious and uncertain landscape for crypto companies operating in the country. “The SEC has deliberately muddied the waters by claiming sweeping authority over digital assets while deploying a haphazard, enforcement-based approach,” it…