Day: July 28, 2023

BTC price shrugs off strong PCE data as Bitcoin traders eye $28K range

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Bitcoin (BTC) stayed rangebound at the July 28 Wall Street open despite further United States inflation data beating expectations. BTC/USD 1-hour chart. Source: TradingView Fed’s “preferred” inflation metric points to waning pressure Data from Cointelegraph Markets Pro and TradingView showed BTC price action getting only a modest boost from the Personal Consumption Expenditures (PCE) Index print. This came in below estimates, hinting that U.S. inflation was continuing to subside and copying other data prints from the week. BREAKING: US PCE Price Index comes in below expectations Expected = 3.1%Actual =…

VC Firm Sequoia Capital Slashes Crypto Fund By 65% Amid Bear Market

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Just over a year after launching its crypto fund, venture capital firm Sequoia is now rolling back its investments and taking more of a more careful approach. The firm was making some serious waves when it launched its crypto fund last year in February, signaling that crypto was ready for mainstream VC backing. But now the company has reportedly downsized its cryptocurrency fund by 65% as the crypto winter rages on.  Sequoia Pulls Back On Its Crypto Funding Sequoia Capital, one of Silicon Valley’s most prestigious VC firms, is scaling…

6 Questions for Simon Davis of Mighty Bear Games

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Simon Davis is the co-founder and CEO of Mighty Bear Games, a multiplatform game developer in Southeast Asia creating accessible multiplayer experiences in Web3. Davis has spent almost two decades working in the gaming industry, but he never planned to actually work in this field. Before crypto, he was a professional guitarist who made ends meet by playing in metal bands and cover bands and by teaching guitar. But after his money dried up one summer, he scored a six-week gig as a professional game tester — and he’s never…

Amid Sanctions, Bitcoin Mining Machines Are ‘Flowing’ Into Russia, as Industry Thrives

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None of the “sanctions targeting Russia completely prohibit involvement in the mining sector,” said David Carlisle, vice president of policy and regulation at Elliptic, a blockchain analytics firm. Still, there are “significant risks” for firms operating in Russia’s mining sector: they can’t do business with sanctioned entities including mining hosting firm BitRiver, or make payments to state banks and companies, Carlisle added. Original

French privacy watchdog questions Worldcoin’s data collection method: Report

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The French National Commission on Informatics and Liberty (CNIL), France’s data protection agency, is questioning the legality of Worldcoin’s data collection methods, according to a Reuters report.  In an email to Reuters on July 28, CNIL said: “The legality of this collection seems questionable, as do the conditions for storing biometric data.” CNIL also stated that it had initiated investigations and had been supporting the efforts of the Bavarian state authority in Germany with its investigation into the matter. Reuters also reported on July 25 that Worldcoin may face inquiries…

Blockchain technology lets East African farmers sell globally

Small farmers in the developing world may be on the cusp of an agricultural breakthrough. With emerging technologies like satellite imagery, drones and machine learning boosting productivity, it’s becoming more viable than ever to sell their produce in places like Western Europe.  There’s just one catch: avocado farmers in East Africa or coffee growers in Latin America have to be able to document that their crops have been grown in accordance with sustainable agricultural practices.  Their harvest bounty can’t come at the expense of denuded forests or through the assistance…

Why This Billionaire Continues To Advocate For Bitcoin Amid Surging US Debt

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Bitcoin (BTC) has continued to occupy center stage, drawing varied reactions from different financial pundits. One of these voices is billionaire investor Mike Novogratz, who has yet again reiterated his support for the top cryptocurrency despite the unsettling dynamics in the United States economy. The Growing Concern: Skyrocketing Interest Payments The US is currently experiencing an unprecedented increase in debts as its interest payments reach $970 billion. This figure represents a leap of $41 billion in the second quarter alone. Observers anticipate that the rising trajectory could soon see the…

Yuga Labs Hosts Live Demo of Otherside Metaverse Expansion to Bored Ape NFT Holders

Yuga Labs co-founder Wylie Aronow, who has since stepped back from the project, told me last year that the company is all-in on developing its gamified virtual world, which is meant to sit at the “intersection” of all of its NFT brands, like Bored Ape Yacht Club, CryptoPunks, Meebits and 10KTF. The company has recently brought on a number of game-focused executives to help lead its expansion, notably new CEO Daniel Alegre, formerly of Activision Blizzard, chief gaming officer Spencer Tucker and chief creative officer Michael Figge. Source

Is 2023 the year we’re able to take control of our data?

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What is happening to my data? Although true control is limited in the digital age, our relationship with big tech and big media can be parasitic. During the mobile revolution, users traded away autonomy for convenience, and in hindsight, we should have looked deeper into the Terms of Service. The New York Times unveiled the uncomfortable truth that millions of people are sharing data without their explicit consent constantly. Countless websites and social platforms have also been fined for the collection and sale of personal data to third parties —…