Month: May 2023

Solana Foundation Launches NFT Showdown Contest

Evaluation of participating projects will be based on their business acumen, creativity, focus on users, employing Solana tech, and real-world use of the product. Winners will get a chance to work with industry experts who will provide guidance to make their projects real. The Solana Foundation has launched an initiative that focuses on non-fungible tokens (NFTs) and aims to “strengthen the quality” of new NFT projects. Called “NFT Showdown”, Solana’s idea is basically a competition that invites artists to come up with innovative business plans and create collections with “real-world…

What is profit and loss (PnL) and how to calculate it

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Anyone who has dealt with trading in traditional finance is likely to be aware of profit and loss (PnL). But is PnL in the cryptocurrency world the same? The ability to comprehend terms like mark-to-market (MTM), realized PnL and unrealized PnL will help develop a better understanding of the cryptocurrency a person holds. Without a well-defined process to get insight into profit or loss, cryptocurrency trading may be overwhelming, and traders may struggle with what they are doing. PnL reflects the change in the value of a trader’s positions over…

The Reserve Bank of Zimbabwe Encourages Citizens to Subscribe to its Gold-Backed Digital Currency

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Google Teases Pixel Fold Smartphone, Looks to Unveil Its Functionality at Annual Developer Conference

Although little is known about the Google Pixel Fold, the phone could launch in June for up to $1,800. It will be Google’s most expensive smartphone.  Google (NASDAQ: GOOGL) has announced its upcoming first-ever foldable cell phone called the Pixel Fold. Besides a brief teaser video, little is known about the new mobile device, which could retail between $1,700 and $1,800. However, at the upcoming Google I/O conference, Google plans to reveal additional Pixel Fold details, including its specifications and value proposition. The annual developer conference takes place on Wednesday, May 10th.…

North Carolina lawmakers pass bill opposing CBDC payments

The House of Representatives of North Carolina has passed legislation to ban payments to the state using a central bank digital currency (CBDC). North Carolina passes legislation against CBDC use House Bill 690 was passed unanimously on May 3, with all 118 legislative body members supporting the proposal. Originally called “No Cryptocurrency Payments to State,” the bill was introduced in early April and was later modified to focus on digital currencies issued by the United States Federal Reserve (Fed). The latest version of the bill aims to prohibit individuals from…

Argentine Foreign Minister Says a Latin American Common Currency Would Relieve Argentina’s Stress on the Dollar Issue – Economics Bitcoin News

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Argentine Foreign Minister Santiago Cafiero referred to the advantages the issuance of a Latin American common currency would give Argentina. Cafiero stated that the existence of such a currency would relieve the stress that the country is currently facing regarding the state of its foreign reserves and the devaluation of its fiat currency. Argentine Foreign Minister Talks Latin American Common Currency Santiago Cafiero, foreign minister of Argentina, talked about the benefits that the existence of a common currency for countries in Latam would bring to the region and his country.…

Standard Chartered-backed Zodia goes green, joins UK’s Tech Zero

Zodia Custody, a London-based crypto storage solution backed by Standard Chartered and Northern Trust, is now part of Tech Zero, a network of technology companies aiming to reach net-zero carbon emissions by 2030. Zodia Custody is the first crypto custodian to sign up for the initiative. Task Zero has over 300 leading tech firms as members. As a task force member, Zodia will report its scope 1, 2, and 3 emissions annually. It will also disclose its plans to reach net zero within a year and appoint an executive to…

US vice president gathers top tech CEOs to discuss dangers of AI

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The United States vice president and President Biden’s top advisors have held a meeting with several AI industry CEOs to discuss “concerns about the risks associated with AI.” On May 4, U.S. vice president Kamala Harris was joined by nine top Biden administration advisors in science, national security, policy and economics, meeting with the CEOs of OpenAI, Microsoft, Google and AI startup Anthropic. Notably, tech giant Meta’s CEO Mark Zuckerberg was absent from the meeting. Before the meeting, the White House released a flurry of AI-related announcements regarding funding AI…

Brazilian President Lula to Act as BRICS Liaison to Help Argentina, Discusses Credit Line in Brazilian Reals – Economics Bitcoin News

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Brazilian President Luiz Inacio Lula da Silva stated Brazil will serve as a facilitator to try and arrange BRICS bloc assistance for Argentina. Lula stated that the New Development Bank — the BRICS bank — could modify some of its rules to aid Argentina. Also, the two countries are negotiating the establishment of a credit line to pay for Brazilian exports in reals. Brazil to Serve as Bridge Between BRICS and Argentina Brazilian President Luiz Inacio Lula da Silva committed to serving as a liaison between Argentina and the BRICS…