Day: May 15, 2023

What’s next for NFTs and Web3 in the age of the creator economy?

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A recent report from The Influencer’s Club suggests that the creator economy was worth over $100 billion in 2022 and continues growing. Recent trends appear to back this up, with YouTube expanding to Shorts, TikTok’s launch of Pulse and Facebook pushing content with Reels.  The creator economy is expanding in other ways too, with the use of artificial intelligence tools like ChatGPT and DALL-E to generate content, the rise of live streaming platforms like Twitch and growing interest in podcasting.  However, creators face a number of challenges that will likely…

US strips Ethereum dev Virgil Griffith of export privileges for 10 years

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The United States Department of Commerce has imposed a 10-year export privilege ban on Virgil Griffith, an Ethereum developer serving a five-year prison sentence. The ban restricts him from enjoying export privileges until April 12, 2032. The export privilege ban affects his ability to participate in international trade and business. On April 12, 2022, Virgil Griffith was convicted in the U.S. District Court for the Southern District of New York for breaching the International Emergency Economic Powers Act (IEEPA). Griffith was found guilty of unauthorized export of services to North Korea and…

Bitcoin Preferred to Dollar and Yen as Safe-Haven Option amid Higher US Debt-Limit Default Risks

Amid mounting debt-limit default risks, US investors have turned to Bitcoin as ‘digital gold’ to better hedge their savings.  Amid rising debt-limit default risks, Bitcoin (BTC) is the preferred safe-haven asset compared to other established global fiat currencies. A recent report stated that investors have turned to BTC to hedge their investments, compared to the US dollar, Japanese yen, or Swiss franc-yielding assets. In addition, Bitcoin’s growing popularity as a veritable option rivals that of gold now. The likelihood of a US debt default is at its highest point in recent times…

Reserve Bank of Zimbabwe Defies IMF’s Warning, Sells $39M Worth of Gold-backed Digital Tokens

Zimbabwe seeks to use gold-backed crypto tokens to salvage the country’s economic situation. The Reserve Bank of Zimbabwe has dammed any potential consequences by selling 14 billion Zimbabwean dollars ($39 million) worth of gold-backed digital tokens. That is despite an earlier warning it received from the International Monetary Fund (IMF) not to go ahead with the plans. At the time, the International body cautioned about the potential risks of the plan, suggesting that Zimbabwe would be better off liberalizing its foreign exchange market. As of May 12, the apex bank…

BTC Rebounds From 2-Month Low, Climbing Back Above $27,000 – Market Updates Bitcoin News

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Bitcoin was back in the green on Monday, as prices climbed back above the $27,000 level to start the week. Prices slipped to a two-month low over the weekend, however momentum has marginally shifted. Ethereum was also higher today. Bitcoin Bitcoin (BTC) jumped back above the $27,000 level to start the week, as sentiment showed glimpses of shifting after last week’s bear run. Following a low of $26,762.25 on Sunday, BTC/USD raced to an intraday peak of $27,521.62 earlier in today’s session. The move saw the world’s largest cryptocurrency continue…

Vice Media Files for Chapter 11 Bankruptcy

Before this announcement, Vice Media had begun to restructure its global organizational workforce. American-Canadian digital media company Vice Media Group has filed for Chapter 11 bankruptcy after several years of financial struggle. The company, which was valued at $5.7 billion in 2017, is currently worth less than $1 billion. Top executives of the media giant have failed to give any detailed evaluation of the company’s net worth. Vice Media’s lenders are planning to take on administrative control of the company through necessary filings. These lenders include Fortress Investment, Soros Fund…

Litecoin (LTC) on Bullish Run after Lightning Network Integration

Litecoin has been gaining some momentum since the start of the year with a focus on its next Halving event which is a few months away. Litecoin (LTC) is seeing a parabolic run through its price today as the protocol has unveiled a major milestone underpinning the network. As reported by several media today, Litecoin has also integrated the Lightning Network as it looks to leverage the ultimate scaling solution that has helped the Bitcoin network beat its congestion woes in recent times. The revelation of the Lightning Network integration…

Bitcoin (BTC) Bounces Back From Friday Lows

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Bitcoin (BTC) has gained ground again after hitting lows of $25,800 late Friday, rising to $27,400 early Monday morning. Markets are preparing for a busy week ahead with U.S. retail sales data to be released Tuesday and Federal Reserve Chair Jereome Powell to speak on Friday. Stocks and commodities were also climbing early Monday. Some traders believe bitcoin’s holding of the $27,000 level over the past few days is setting the crypto up for a run to new highs. Among other crypto movers Monday, Lido DAO (LDO), a liquid staking…