Month: May 2023

Metaverse ETF ‘PUNK’ closing after betting against Meta’s vision

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After 15 months and an approximate 30% loss, an exchange-traded fund (ETF) opposing Meta’s perspective on the metaverse is shutting down. Subversive Capital is set to shut down and liquidate its Subversive Metaverse ETF, known by its “PUNK,” ticker, as the company shifts its focus toward artificial intelligence (AI). In January 2022, the PUNK ETF was introduced with the objective of investing in companies that support the infrastructure and applications of the metaverse. However, Mark Zuckerberg’s Meta was notably absent from the list. In its online fund description, Subversive Capital…

ApeCoin DAO Approves Proposal to Boost Bored Ape NFTs, APE Ecosystem Growth

The “Ape Accelerator” aims to engage the ApeCoin community as initiators, voters, and participants. Initiators can submit proposals for projects to be incubated, while voters can use their APE tokens to vote on whether the proposed projects should be launched. Participants will be able to support approved projects by purchasing NFTs and other yet-unspecified tokens. Source

Bitcoin and proof-of-stake have natural ‘synergy’: Bitcoin Builders 2023

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Less than a year after proof-of-stake (PoS) became the consensus mechanism for the Ethereum blockchain — the industry’s largest blockchain network — researchers have found that PoS can complement Bitcoin.  Stanford University professor David Tsè spoke to Cointelegraph at the 2023 Bitcoin Builders conference in Miami, Florida, about his team’s findings on Bitcoin, PoS, security and energy consumption.  Cointelegraph reporter Joe Hall and Stanford University professor David Tsè at Bitcoin Builders 2023. Source: Cointelegraph Tsè facilitates a research lab specializing in blockchain consensus protocols at Stanford University in California. He said…

Pantos Protocol Releases Multichain Token Creator for Developers

The Pantos Protocol is making impressive moves with respect to its plans to go fully functional with usable products. Pantos Protocol, the blockchain network designed by the team behind the BitPanda blockchain, has announced the release of its highly innovative Multichain Token Creator as it seeks to empower developers within its ecosystem. As contained in a press release shared with Coinspeaker, the team said the Multichain Token Creator is ideal for creating cryptocurrencies that can be deployed and function on different networks. The entire idea behind the development of the…

Governor Ron DeSantis Bans Digital Dollar in Florida, Other States Prepare to Emulate Decision

The decision of Governor DeSantis to ban CBDCs in Florida has drawn criticism from some legal experts. Ron DeSantis, Governor of Florida recently signed a bill prohibiting the use of central bank-issued digital currencies (CBDCs) in the state. And now, his move may have set a precedent for other states to follow. For DeSantis and many more like him, a CBDC defeats the aim of decentralization being that it is controlled by a centralized entity – the government. They also argue that through CBDCs, governments may eventually be able to…

Apple to Begin Manufacturing Micro-LED Displays and Lessen Reliance on Samsung

Apple is reportedly getting more involved in producing its own cutting-edge screen displays and could launch the technology in 2025.  US tech giant Apple (NASDAQ: AAPL) is intensifying its plans to produce next-generation displays so that it can rely less on Korean rival Samsung. By getting involved in display-making technology, Apple also seeks to increase its own control over the supply of micro-LED screens. Apple’s more involved approach to mass-producing micro-LED displays contrasts with the company’s standard policy of delegating to specialized makers. Usually, the consumer electronics giant provides the screen specifications and…

Bitcoin might be on the verge of bull run, data suggests

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Bitcoin (BTC) is currently stuck in a bearish storm that started at the beginning of this month. Following four months of consistent gains this year, bitcoin began May on a bearish note. However, key historical data suggests the asset might be on the verge of a bull run in the long term. Philip Swift, the founder of BTC data resource LookIntoBitcoin, and behavior analytics platform Santiment, recently highlighted this looming bull run. Both entities cited historical…

Wells Fargo to pay $1B in shareholders lawsuit settlement

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Financial services firm Wells Fargo has reached a settlement in a class-action lawsuit, agreeing to pay shareholders $1 billion. The lawsuit alleged that the bank had misled its shareholders about its efforts to resolve the 2016 fake accounts scandal. A $1 billion all-cash settlement was granted preliminary approval by United States district judge Gregory Woods in a Manhattan federal court. Another hearing will be held on Sept. 8 for final approval. In a statement, the bank said it disagreed with the allegations made in the lawsuit. On the other hand, while…

More Crypto Firms to Leave US amid Confusing Rules

Brad Garlinghouse said that many other jurisdictions have done a better job than the US in providing clarity to crypto players. During his recent interview with CNBC, Ripple CEO Brad Garlinghouse stated that more and more crypto firms are likely to leave the US amid “confusing” regulations. As a result, firms like Ripple are looking to hire and invest outside the country. Speaking to CNBC on Thursday, May 18, Ripple CEO Brad Garlinghouse praised Europe and the UAE for taking leadership positions in establishing crypto laws. As a result, many…