For the full year, Block’s bitcoin revenue declined 29% from 2021 due to the fall in the price of bitcoin, the company said. Original
Block’s Q1 Bitcoin Revenue Rises 18% From Q4, Gains 25% From a Year Ago
Tag: Blocks
Art Blocks Co-Founder Erick Calderon Uses Free Market Ideals to Defend NFT Creator Royalties
Calderon delivered a defense of creative royalties – and the incentives that they encourage on the part of artists – that wouldn’t be out of place in an Ayn Rand novel. According to Calderon, NFTs incentivize artists to think more deeply about their artwork and engage continuously in the NFT community. With the prospect of a bigger, prolonged payday, Calderon thinks artists will create better, more valuable artwork – with the benefits (and profits) trickling down to speculators. Source
Italy blocks ChatGPT, investigates suspected violations
Italy’s watchdog in charge of protecting data has announced that it’s temporarily blocking the artificial intelligence chatbot ChatGPT and is opening an investigation over suspected breaches of data privacy rules. The data protection agency has ordered the immediate limitation of data processing for Italian users by OpenAI, the United States company behind ChatGPT. The agency highlighted that this was a response to the recent data breach that the AI platform suffered on March 20. We believe the number of users whose data was actually revealed to someone else is extremely…
Euler Finance blocks vulnerable module, working on recovering funds
Decentralized finance (DeFi) lending protocol Euler Finance became a victim of a flash loan attack on March 13, resulting in the biggest hack of crypto in 2023 so far. The lending protocol lost nearly $197 million in the attack and impacted more than 11 other DeFi protocols as well. On March 14, Euler came out with an update on the situation and notified its users that they had disabled the vulnerable etoken module to block deposits and the vulnerable donation function. The firm said that they work with various security groups…
THNDR Games Launches Play-to-Earn Bitcoin Blocks Puzzle Game
As a part of the game release, the company is introducing its Gaming Graph, a feature that allows users to connect to their profiles on decentralized social network Nostr. Users can then earn “badges” for their gameplay milestones, linking them to their Nostr profiles to help build out their gaming identity across Web3 social media platforms. Original
CoinDesk and Art Blocks Release Microcosms to Supercharge Consensus With NFTs
Unlike with a traditional event ticket that simply gains you entrance to an event, we focused a set of on-the-ground rewards to enhance an attendee’s experience. Beyond access, all users get our DESK token airdropped to them. The token can be used at the event for food, drink, merchandise or experiences. Based on an algorithm, additional people will receive special rewards like a speaking slot at Consensus, a booth on the show floor, a comped hotel stay or meetings with key venture capitalists who are investing in Web3. If recipients…
Illuvium DAO blocks NFT pack-opening event involving 3AC founder Su Zhu
The community supporting Illuvium, an interoperable blockchain game, has demonstrated the power of decentralized autonomous organizations (DAOs) after blocking a scheduled nonfungible token (NFT) pack-opening event between Illuvium CEO Kieran Warwick and Three Arrows Capital (3AC) founder Su Zhu. Warwick was scheduled to go against Zhu in what’s called an “Influencer Illuvitars D1sk Battle” where prominent crypto personalities go against each other to open NFT packs. However, due to the controversies surrounding Zhu and 3AC, the Illuvium community expressed concerns over the potential risks of being associated with Zhu, who…
BRICS Nations ‘Coalescing Against the Dollar,’ Major Banks Predict More Fed Hikes, Bitcoin Records Large Blocks as Ordinals Gain Currency – The Weekly Bitcoin News
In spite of turbulence in traditional global finance, with BRICS nations said to be pushing for de-dollarization and major banks like Bank of America and Goldman Sachs predicting further interest rate hikes from the U.S. Federal Reserve, creativity in crypto has found a new boon in the form of controversial inscriptions, called Ordinals, on the Bitcoin blockchain. All this and more, just below, in the latest Bitcoin.com News Week in Review. Expert Predicts Looming Economic Collapse as BRICS Nations Unite Against the Dollar Andy Schectman, CEO of Miles Franklin Precious…
Block’s Q4 Bitcoin revenue down 7% on crypto price decline
Jack Dorsey’s payment company Block Inc. reported $1.83 billion of Bitcoin (BTC) revenue from its Cash App business unit in the fourth quarter, representing a 7% fall from the same time last year. In its Q4 and full-year results announced on Feb. 23, Block attributed the fall in Bitcoin revenue to the decline in BTC price in the year. Bitcoin fell approximately 65% throughout 2022. This fall in revenue led to a 25% year-on-year drop in Bitcoin gross profit for Cash App, which fell to $35 million in the quarter. Cash App…
Block’s Q4 Bitcoin Revenue Fell 7% Year-Over-Year to $1.83 Billion
For the full year, Block’s bitcoin revenue declined 29% from 2021 due to the fall in the price of bitcoin, the company said. Source