Developers of the fast-growing UST stablecoin say the coin's $1 value peg isn't "backed" by anything – just a blockchain-based algorithm. So why does it need a multibillion-dollar bitcoin reserve in case of an emergency? How would that work? Luna Foundation Guard (LFG) has been making headlines over the past month as one of the biggest bitcoin (BTC) buyers for a new "reserve," seemingly appearing out of nowhere to scoop up $1.7 billion of the largest cryptocurrency by market value. ...

Developers of the fast-growing UST stablecoin say the coin's $1 value peg isn't "backed" by anything – just a blockchain-based algorithm. So why does it need a multibillion-dollar bitcoin reserve in case of an emergency? How would that work? Luna Foundation Guard (LFG) has been making headlines over the past month as one of the biggest bitcoin (BTC) buyers for a new "reserve," seemingly appearing out of nowhere to scoop up $1.7 billion of the largest cryptocurrency by market value. ...

Cryptocurrency exchange Blockchain.com is interviewing banks for an initial public offering (IPO), which could take place as early as this year, Bloomberg reported on Tuesday.The IPO might not happen till 2023 and its plans could still change, the report said, citing people familiar with the matter.Blockchain.com is one of the biggest crypto exchanges in the world and reached a valuation of $14 billion in a Series D round last month. The Series D round was led by Lightspeed Venture Partners, ...

Cryptocurrency exchange Blockchain.com is interviewing banks for an initial public offering (IPO), which could take place as early as this year, Bloomberg reported on Tuesday.The IPO might not happen till 2023 and its plans could still change, the report said, citing people familiar with the matter.Blockchain.com is one of the biggest crypto exchanges in the world and reached a valuation of $14 billion in a Series D round last month. The Series D round was led by Lightspeed Venture Partners, ...

Paris Saint-Germain today launched an exclusive NFT video auction and real-life experience to commemorate Leo Messi's seventh Ballon d'Or and the first ever won by a player in a PSG shirt. The NFT "Ballon d'Or #7" will recount, through a minute and a half of exclusive footage and animations, Leo Messi's arrival in Paris, his first steps in the Rouge & Bleu, his first goal at the Parc des Princes, and even his seventh Ballon d'Or, immortalised for the first time in dig...

Paris Saint-Germain today launched an exclusive NFT video auction and real-life experience to commemorate Leo Messi's seventh Ballon d'Or and the first ever won by a player in a PSG shirt. The NFT "Ballon d'Or #7" will recount, through a minute and a half of exclusive footage and animations, Leo Messi's arrival in Paris, his first steps in the Rouge & Bleu, his first goal at the Parc des Princes, and even his seventh Ballon d'Or, immortalised for the first time in dig...

The U.S. needs to get straight on staking rewards, or risks losing its edge on the crypto industry. Now is the time to call the question on staking taxation, and the answer is clear: Block rewards received by stakers should be taxed only upon sale. In 2014, the Internal Revenue Service declared that virtual currency is property. In the very same policy decision (made in guidance document IRS Notice 2014-21), the agency gets it wrong on how to tax proof-of-work block rewards. It considers thes...

The U.S. needs to get straight on staking rewards, or risks losing its edge on the crypto industry. Now is the time to call the question on staking taxation, and the answer is clear: Block rewards received by stakers should be taxed only upon sale. In 2014, the Internal Revenue Service declared that virtual currency is property. In the very same policy decision (made in guidance document IRS Notice 2014-21), the agency gets it wrong on how to tax proof-of-work block rewards. It considers thes...

Australia follows a lengthy list of spot bitcoin issuances in Europe and Canada, but these products come at a challenging time for crypto; bitcoin and ether drop. Good morning. Here’s what’s happening: Prices: Bitcoin, ether and other major cryptos plummeted as investors remained averse to risk. Insights: Spot BTC ETFs launch in Australia. But elsewhere, they are facing fund outflows. Technician's take: BTC's current pullback is similar to what occurred in September of last year, al...

Australia follows a lengthy list of spot bitcoin issuances in Europe and Canada, but these products come at a challenging time for crypto; bitcoin and ether drop. Good morning. Here’s what’s happening: Prices: Bitcoin, ether and other major cryptos plummeted as investors remained averse to risk. Insights: Spot BTC ETFs launch in Australia. But elsewhere, they are facing fund outflows. Technician's take: BTC's current pullback is similar to what occurred in September of last year, al...

The Helium Network is a crypto-powered network of Internet hotspots, but it has saved one amateur fisherman thousands of dollars on crab pots every year. In a typical year, Jameson Buffmire, a San Francisco-based tech executive, loses around 10 crab pots in the course of his hobby, catching the crustaceans off the California coast. Each pot costs upwards of $300. He has been trying to find a way to track them so he can work out whether they’re being removed or possibly even stolen. “It’s incr...

The Helium Network is a crypto-powered network of Internet hotspots, but it has saved one amateur fisherman thousands of dollars on crab pots every year. In a typical year, Jameson Buffmire, a San Francisco-based tech executive, loses around 10 crab pots in the course of his hobby, catching the crustaceans off the California coast. Each pot costs upwards of $300. He has been trying to find a way to track them so he can work out whether they’re being removed or possibly even stolen. “It’s incr...

Twitter (TWTR) has accepted a $54.20-a-share buyout offer from Tesla CEO Elon Musk, valuing the social media company at about $44 billion in cash, according to a press release. Once the deal is completed, Twitter will become a privately held company."Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated," Musk said in a statement. "I also want to make Twitter better than ever by enhancing the pro...

Twitter (TWTR) has accepted a $54.20-a-share buyout offer from Tesla CEO Elon Musk, valuing the social media company at about $44 billion in cash, according to a press release. Once the deal is completed, Twitter will become a privately held company."Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated," Musk said in a statement. "I also want to make Twitter better than ever by enhancing the pro...

Bitcoin (BTC) and other cryptos traded higher on Tuesday as bearish sentiment over the past week appears to be fading. Most alternative cryptocurrencies (altcoins) outperformed bitcoin, suggesting a greater appetite for risk among traders. For example, THORChain's RUNE token rallied by 11% over the past 24 hours, compared with a 2% rise in BTC over the same period. Meanwhile, decentralized finance (DeFi) tokens such as AAVE and EOS rose more than 7% on Tuesday. Just launched! Please sign...

Bitcoin (BTC) and other cryptos traded higher on Tuesday as bearish sentiment over the past week appears to be fading. Most alternative cryptocurrencies (altcoins) outperformed bitcoin, suggesting a greater appetite for risk among traders. For example, THORChain's RUNE token rallied by 11% over the past 24 hours, compared with a 2% rise in BTC over the same period. Meanwhile, decentralized finance (DeFi) tokens such as AAVE and EOS rose more than 7% on Tuesday. Just launched! Please sign...

Sam Bankman-Fried, the founder and CEO of crypto exchange FTX, met Goldman Sachs CEO David Solomon in the Caribbean to discuss potential collaborations between the two firms, the Financial Times reported Thursday.The two chief executives discussed Goldman Sachs advising FTX, which was valued at $32 billion in January, on future funding rounds and taking a role in a potential initial public offering (IPO), according to the report, which cited people familiar with the matter.Solomon also offere...

Sam Bankman-Fried, the founder and CEO of crypto exchange FTX, met Goldman Sachs CEO David Solomon in the Caribbean to discuss potential collaborations between the two firms, the Financial Times reported Thursday.The two chief executives discussed Goldman Sachs advising FTX, which was valued at $32 billion in January, on future funding rounds and taking a role in a potential initial public offering (IPO), according to the report, which cited people familiar with the matter.Solomon also offere...

Ping! You’ve got mail. This is one of the oldest memes of the internet age. The little icon in the corner of our screens, the talking paper clip, the familiar buzz of the phone in our pockets. We take real-time alerts and notifications for granted. They are hard-wired into our everyday lives. And when an app does not provide notifications and alerts, it feels outdated. But in the most modern iteration of the internet – Web 3 and blockchains – these notifications are conspicuous by their absen...

Ping! You’ve got mail. This is one of the oldest memes of the internet age. The little icon in the corner of our screens, the talking paper clip, the familiar buzz of the phone in our pockets. We take real-time alerts and notifications for granted. They are hard-wired into our everyday lives. And when an app does not provide notifications and alerts, it feels outdated. But in the most modern iteration of the internet – Web 3 and blockchains – these notifications are conspicuous by their absen...

Good morning. Here’s what’s happening: Prices: Bitcoin was higher for a third straight day, changing hands around $41,500. But the headiest (and most ridiculous) crypto-markets action was in ApeCoin. Insights: Bitcoin "minnows" might be small, but don't doubt their resolve. Technician's take: There has been a loss of downside momentum on bitcoin's daily chart, which could keep short-term buyers active. Catch the latest episodes of CoinDesk TV for insightful interviews with cryp...

Good morning. Here’s what’s happening: Prices: Bitcoin was higher for a third straight day, changing hands around $41,500. But the headiest (and most ridiculous) crypto-markets action was in ApeCoin. Insights: Bitcoin "minnows" might be small, but don't doubt their resolve. Technician's take: There has been a loss of downside momentum on bitcoin's daily chart, which could keep short-term buyers active. Catch the latest episodes of CoinDesk TV for insightful interviews with cryp...

GameFi adoption has been hitting obstacles worldwide, including China and Korea, because of laws about converting in-game tokens to currency. Good morning. Here’s what’s happening: Prices: Bitcoin and other major cryptos were roughly flat from the beginning of the weekend. Insights: The law can create headwinds for GameFi and NFT adoption. Technician's take: BTC has been struggling to sustain positive momentum over the past few days. Catch the latest episodes of CoinDesk TV for insightfu...

GameFi adoption has been hitting obstacles worldwide, including China and Korea, because of laws about converting in-game tokens to currency. Good morning. Here’s what’s happening: Prices: Bitcoin and other major cryptos were roughly flat from the beginning of the weekend. Insights: The law can create headwinds for GameFi and NFT adoption. Technician's take: BTC has been struggling to sustain positive momentum over the past few days. Catch the latest episodes of CoinDesk TV for insightfu...