Day: September 6, 2023

MetaMask Unveils New Feature Allowing Users to Sell ETH for Fiat

MetaMask introduces the “fiat-off-ramp” feature on the platform by allowing users to convert their ETH holdings to fiat currency. On Tuesday, September 5, the popular cryptocurrency wallet MetaMask announced that it had launched a new feature that would allow users to sell ETH for fiat currency. In a post on X (formerly Twitter) on September 5, MetaMask announced that users with crypto wallets connected to the Portfolio decentralized application could now convert their Ether (ETH) holdings, with the ticker currently at $1,632, into fiat currency and transfer it to their bank accounts.…

Turning Point For Bitcoin And Crypto? DXY At 5-Month High

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In a crucial development for the financial markets, the US Dollar Index (DXY) has surged to its highest level since March, marking a pivotal moment for Bitcoin and the broader crypto sector. The DXY, which gauges the Greenback’s performance against a basket of six major currencies, has extended its gains above the 104.000 mark in the past four day, reaching a five-month peak at 104.907. At press time, the DXY was trading at 104.773. From a technical standpoint, the DXY has exhibited a bullish bias, especially after surpassing the 200-day Moving…

Elon Musk Secured $1B Loan from SpaceX amidst Twitter Acquisition

Regarding SpaceX, Musk holds the title of the largest shareholder, with an impressive 42 percent stake. Elon Musk, the visionary entrepreneur known for pushing the boundaries of space exploration and electric vehicles, has once again captured headlines for his audacious financial moves. A recent report from the Wall Street Journal (WSJ) has revealed that Musk secured a substantial loan of $1 billion from SpaceX, around the same time he was finalizing the acquisition of Twitter Inc, which has since been rebranded as X. Elon Musk’s Financial Maneuvers The loan, approved…

Paris Hilton, a16z back IP ownership network Story Protocol

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The new blockchain-based IP ownership network Story Protocol closed a $54 million funding round on Sept. 7, which included investments from big names like Paris Hilton’s 11:11 Media, and Andreessen Horowitz, also known as a16z.  The platform uses blockchain technology to help content creators oversee and monetize their content in the face of fakes generated by artificial intelligence (AI). It plans to serve as a blockchain-based IP ownership repository for all types of content including text, image and audio. If artists eventually register with the protocol they can use connected…

Coinbase’s Base faced its first significant outage

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Coinbase’s Ethereum layer-2 project Base that went live this August suffered its first significant outage on Sept. 5. The company faced a problem when no new blocks were produced during 43 minutes on the blockchain network. Base’s developers identified the problem at 9:36 pm UTC. Matt Willemsen, head of research at crypto education platform Collective Shift, highlighted the difference between the usage of Ethereum (ETH) L2s and the mainnet in a post via X. He claimed…

Plans to Integrate Electric Cars and Smartphones

Polestar is trying to create an experience where you can be using an app on your mobile phone and then continue with the app in your car. Polestar, a subsidiary of the Chinese automaker Geely, is preparing to begin production of its Polestar 4 electric cars this year, with a particular focus on the Chinese market. This shows the strategic move by the manufacturer to enter the Chinese market and its priority for technology and innovation. The Chinese market appears to be appealing due to their strong desire to have…

China Bans Officials from Using Apple iPhones at Work

This is not the first Chinese government ban on foreign technology. In 2014, the government banned Windows 8 from government computers, citing security risks. China is asking its central government officials not to use Apple iPhones and other foreign-branded devices for work. This was contained in a report by the Wall Street Journal. Before now, only officials in certain agencies could not use iPhones at work. However, it seems Beijing is stepping up its efforts to reduce dependence on foreign technology and ensure data security. The United States has made…

Ethereum Price Maze: Will It Soar To $2,000 Or Stay At $1,500 In September?

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As Ethereum (ETH) grapples with quite a tense market sentiment, crypto investors are on edge, with some sounding cautionary alarms about the potential for further price erosion before any sign of recovery.  The second-largest cryptocurrency by market capitalization has faced tumultuous weeks, with its price bouncing off the $1,626 support level, giving bulls a glimmer of hope. In a bid to regain lost ground, Ethereum needs to engineer a bullish breakout from the overhead trendline, aiming to potentially push its price back up to $2,020.  ETH Bullish Breakout Looms, But…

Evergrande Shares Jump 80% as Property Stocks Boost China’s Property Sector despite Country Garden’s Problems

Evergrande has seen an impressive spike in shares even though both the HSI and the property sector in China are still struggling. Chinese property developer Evergrande saw its shares jump 82% on Wednesday, outperforming other publicly listed companies on the Hang Seng Index (HSI). Evergrande shares closed at HK$0.640 after climbing 82.86%, according to data from MarketWatch. The company’s previous close was HK$0.350. In the last 5 days, Evergrande shares have climbed over 137%. However, the company has been trading in the red, losing over 60% over the last few…