During the European Blockchain Convention in Barcelona yesterday, the Innovation minister for Catalonia suggested that Catalonia could soon launch its own metaverse. This is amidst a gradual digital revolution going on in the autonomous community. At the event, the Catalonian director-general of innovation Daniel Macro disclosed some strategies the government is exploring to ensure Catalonia becomes a digital powerhouse. He mentioned that one of the benefits of the COVID19 pandemic over the past two years was digitalizing the economy. The…
Opinion
Three Arrows Capital (3AC) is Considering Asset Sales and Bailout Options, Confirms Co-Founder
The crypto venture capital firm Three Arrows Capital has now confessed that it’s in deep financial trouble. It is considering selling its assets or getting a bailout by a larger company to stay afloat. Desperate Times for 3AC As reported by the Wall Street Journal, company co-founders Su Zhu and Kyle Davies have confirmed such bailout considerations. They are both speaking with legal and financial advisors to develop a solution for the investors and lenders they owe. Their troubles are…
1 week ago 972
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Vitalik Buterin Doubts That Crypto Will Take Over the World
Ethereum co-founder Vitalik Buterin recently showed doubt that cryptocurrencies will replace traditional currencies on the world stage. He does, however, believe cryptos can co-exist as an alternative asset class. Assets, Not Currencies As reported by Reuters, Vitalik made his comments at the VivaTech conference in Paris. “I do not expect cryptocurrencies to take over the world,” he said. “It’s about cryptos and digital and governments.” [caption id="" align="aligncenter" width="2880"] Vitalik Buterin. Source: Fortune[/caption] As originally conceived, Bitcoin was created as…
1 week ago 908
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Three Arrows Capital (3AC) Ghosts Partner Companies as Insolvency Rumors Swell
Three Arrows Capital (3AC), one of the largest crypto venture capital firms, has reportedly stopped communicating with multiple partners for which it manages money. This comes amid growing rumors that the company is insolvent, hastily paying off debts similar to Celsius. Silence From 3AC The first partner to speak out was Danny Yuan, Head of Trading at crypto market maker 8 Blocks Capital. In a Twitter thread on Wednesday, he explained that 3AC had breached an agreement with his firm…
2 weeks ago 899
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CZ Says Crypto is Exhibiting Normal Market Behavior
Binance CEO Changpeng Zhao - commonly known as CZ - believes nothing is wrong with the crypto market despite the recent meltdown. In an interview with Bloomberg, the crypto executive said it is normal for markets to go up and down. To this end, he claims the crypto market is showing normal behavior. According to CZ, fluctuations are common in markets. He pointed out that equity markets are also facing wild price swings. He highlighted Netflix, saying the company’s stock,…
2 weeks ago 625
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Could Crypto Users Turn to Gold-Pegged Tokens Amid Bear Market?
Gold maintains its safe-haven status, while comparison with Bitcoin and stablecoins persists. Gold has been a proven protective hedge against inflation for years. Now in the persisting aftermath of Terra’s collapse and continued geopolitical tensions, some crypto investors might be turning to gold-pegged tokens to weather the crypto winter. Stablecoins’ Struggles Spotlight Gold Stablecoins were created in response to crypto’s volatility. They are a hybrid between the volatility of cryptocurrencies and the stability of fiats or commodities. This means…
2 weeks ago 618
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Op-ed: Why Would Sam Bankman-Fried Lie About Bitcoin’s Future?
It’s one thing to hear ignorant criticisms of Bitcoin from people that don’t own any or aren’t deeply involved with crypto. It’s another, however, for billionaire crypto bros to carelessly spread the same false and outdated criticisms across the media like it's nobody’s business. Sam Bankman-Fried (SBF) – the CEO of cryptocurrency exchange FTX – is the latest of such figures. In an interview with the Financial Times last month, he suggested that Bitcoin has “no future as a payments…
3 weeks ago 698
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Longtime Crypto Skeptic Fears For Investors That Put Their Retirement In Crypto
David Gerard, the author of Attack of the 50 Foot Blockchain, believes the crypto market will continue crashing. In an interview with 60 Minutes, Gerard said the crypto market crypto was not a surprise. He asserted that people cannot get rich for free. Perplexed, Gerard said he thought people would have understood this notion by now. However, he said people always keep hopes of getting an easy way out and end up getting hurt. Gerard, a renowned crypto critic, acknowledged…
3 weeks ago 474
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Gemini Downsizes Staff To Weather Crypto Winter
The exchange will lay off approximately 10% of its staff. Gemini has announced that it will discharge about 10% of its staff as it prepares for the approaching crypto stasis. Winter is Here, Say the Winklevoss Bros. In a blog post, on the second of June, the crypto exchange and custodian announced the news of the impending downsize to its employees. The company's CEO and President both reiterated that they consider people to be their most valuable asset. While…
4 weeks ago 617
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Binance CEO CZ Urges Users to Diversify their Investments
Zhao Changpeng, founder and CEO of the global cryptocurrency exchange platform, Binance, recommends that individuals diversify their investments. Although Zhao, also known as CZ, warned that he doesn’t necessarily follow his own advice as well. The CEO also assured that Binance users’ funds were "SAFU", as users dread another Terra repeat. "Investment Wise, I'm Not a Good Example" In a Reddit AMA – which means Ask Me Anything – the 44-year-old billionaire briefly discussed a myriad of topics in response…
1 month ago 884
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