July 2021 – Technology Manias

Big Investors Are Pushing up Valuations of Crypto Firms

July 31, 2021 willmeet22

Venture capital firms and large investors are driving up the prices of crypto startups. Boutique investment firms and family offices are being elbowed out by big venture capital firms, private equity funds, and even some pension funds. VC Firms Driving Up Prices of Crypto Startups Cryptocurrency firms are seeing high valuations due to large investors entering the space, according to Henri Arslanian, Crypto Leader at professional accounting and financial services firm PWC, also known as Pricewaterhousecooper. In an interview with Bloomberg Thursday, the executive explained that boutique investment firms and…

ETH Compatible BCH Sidechain Smartbch Successfully Launches Three Nodes

July 31, 2021 willmeet22

The day before the fourth Bitcoin Cash anniversary, the Smart Bitcoin Cash team (Smartbch), announced the project has launched three nodes as genesis validators. Smartbch disclosed that Btc.com, Viabtc, and Matrixport are participating and the project has officially started its voting period. Smartbch Fires up Smart Chain’s Genesis Validators For quite some time now, the Bitcoin Cash (BCH) community has been patiently waiting on the development of the Smartbch project. The reason for this is because Smartbch could unlock massive potential between Ethereum (ETH) and Bitcoin Cash. The protocol could…

Biden’s new mask guidance too little, too late for parts of the country, officials say

July 31, 2021 willmeet22

A summer of freedom from lockdowns and face coverings is being punctuated by Centers for Disease Control and Prevention warnings to wear masks again. And officials in some states hardest hit by the Delta variant can already predict the public’s response. Health experts and local leaders in Alabama, Arkansas, Louisiana, Tennessee and Washington state told POLITICO they expect the latest warnings and recommendations will be brushed off by a crisis-weary public that’s been whipsawed for a year and a half by sometimes conflicting federal orders and scientific evidence. “The messaging…

Kentucky Regulators Crack Down on Blockfi Interest-Bearing Accounts

July 31, 2021 willmeet22

The crypto lender Blockfi is now dealing with regulators from five states as Kentucky has joined the fray against the firm’s Blockfi Interest Accounts (BIAs). On July 30, Blockfi shared a statement on Twitter that explained the Kentucky Department of Financial Institutions (DFI) has sent the company an order that aims to ban new BIA accounts. Blockfi Now Has Problems With Regulators From 5 States The New York City-based cryptocurrency finance company Blockfi was founded in 2017 by co-founders Zac Prince and Lori Marquez. The firm is a cryptocurrency lending…

Central Bank Governor: South Africa’s Digital Currency Study Ongoing

July 31, 2021 willmeet22

South African Reserve Bank (SARB) governor, Lesetja Kganyago, has once again confirmed that the central bank is presently studying the feasibility of issuing a digital currency. In his remarks at the SARB’s annual general meeting, governor Kganyago suggested his organization has embarked on this study to keep abreast with the growing trend of central banks that are studying CBDCs. Retail CBDC In the past few years, several central banks including a few in Africa have similarly announced their CBDC studies. Already, the central banks of Ghana and Nigeria have both…

Fed Governor Lael Brainard Can’t Imagine Future Without Digital Dollar

July 31, 2021 willmeet22

Pointing to a number of reasons why a digital version of the U.S. dollar should be created, Federal Reserve Governor Lael Brainard insisted that not having one wouldn’t lead to a sustainable future. The central bank official believes a digital dollar will have both international and domestic applications. US Fed’s Lael Brainard Can’t Wrap Head Around Not Issuing CBDC With other nations, most notably China, moving forward with their own digital currency projects, Lael Brainard, member of the U.S. Federal Reserve Board of Governors, has highlighted the urgency around the…

Bitcoin Price Regains Strength Above $41K, Crypto Market Cap Jumps 6% in 24 Hours

July 31, 2021 willmeet22

Crypto assets have climbed in value during the last 24 hours as the price of bitcoin tapped a high on Friday, reaching $42,411 per unit at 8:00 p.m. (EDT). The entire market capitalization of all 10,000+ crypto assets is $1.64 trillion on Saturday, up over 6% during the last day. Bitcoin Climbs Over 20% This Week The price of bitcoin (BTC) and a number of other digital assets have climbed higher in value during the last few days. Five days ago, a massive short squeeze propelled the price of bitcoin…

McConnell stirs GOP intrigue with support for Biden’s infrastructure bill

July 31, 2021 willmeet22

Moments before the Senate took a pivotal vote on its bipartisan infrastructure deal, negotiators zeroed in on the most important undecided member: Mitch McConnell. The Senate minority leader stayed quiet for weeks but finally tipped his hand on Wednesday afternoon on the floor to a bipartisan group of colleagues, according to senators and aides. He told them he would support moving ahead on the bill, provided that the legislation coming to a final vote was their agreement — not something written by Senate Democrats. It was the first inkling, among…

‘Down the drain’: Millions face eviction after Biden lets protections expire

July 31, 2021 willmeet22

As the clock runs out on a nationwide eviction ban for what’s expected to be the final time, millions of tenants are staring at the prospect of losing their homes as they wait for emergency rental aid that the government has failed to deliver. The federal eviction moratorium in place since September is set to expire Saturday, after the Biden administration refused to extend it and Democrats in Congress couldn’t muster the votes to intervene. Now lawmakers and activists fear an unprecedented surge in evictions in the coming months just…

Democratic push to extend eviction moratorium fizzles in the House

July 31, 2021 willmeet22

The House failed to extend the national moratorium on evictions Friday, with Democratic leaders needling the White House for the inaction that could result in millions of people across the country losing their homes. “Really, we only learned about this yesterday,” Speaker Nancy Pelosi told reporters after Democrats tried to extend the moratorium, only to have Republicans object. “Not really enough time to socialize it within our caucus to build… the consensus necessary,” Pelosi added. The failed vote came after Pelosi and her top two deputies huddled with House Financial…

Stricken states face Covid confusion after new mask guidance

July 31, 2021 willmeet22

Opinion | If Kids Ran Our Elections

July 31, 2021 willmeet22

At first, I was simply terrified to visit the class. In my day job, I’m an election law professor, but for an hour last year I was an elementary school teacher. That seemed much harder. My fourth grade daughter had told her teacher that our family dinner conversations often revolved around the contentious 2020 election. So, the teacher sent me an invitation: Would I come discuss constitutional law and voting rights with a group of 9- and 10-year-olds? Normally, I teach these topics to law students, who can engage with…

Digital Ticket Stubs: New York Knicks Launch Team’s First NFT Collection

July 31, 2021 willmeet22

On Tuesday, the New York Knickerbockers, in partnership with Sweet, launched the NBA team’s first-ever non-fungible token (NFT) collection. The NFTs feature limited edition digitally designed 3D game tickets made specifically for the Atlantic Division basketball team. With less than 24 hours left on the auction, the Knicks’ NFT sale has sold out a number of tickets. 3D NFT Tickets from 5 Classic New York Knicks’ Games A number of NBA teams are getting in on blockchain technology and many American professional basketball teams have engaged in all types of…

Automated Investment Service Firm Wealthfront Adds Support for Grayscale’s BTC, ETH Trusts

July 31, 2021 willmeet22

On Thursday, the Palo Alto-based automated investment service firm, Wealthfront Inc., announced that customers can now get exposure to crypto assets via the company’s platform. The firm revealed that clients can choose from two Grayscale investment trusts, as the company now offers investments in the Grayscale Ethereum Trust (ETHE) and the Grayscale Bitcoin Trust (GBTC). Wealthfront Connects Customers to Two Grayscale Trusts This week Wealthfront has added two Grayscale crypto trusts to the firm’s menu of investments. Wealthfront is an automated investment operation sometimes referred to as a robo-advisor that…

Bank of America, Coinbase, FTX Invest in Paxos Series D Funding Round

July 31, 2021 willmeet22

Paxos, a blockchain services and tokenization firm has added Coinbase Ventures, FTX, Bank of America, and Founders Fund as backers in its Series D funding round that started last April. These institutions were listed as “strategic investors,” but the amounts of their contributions were not disclosed. Paxos has now raised more than $540 million in funding. Bank of America, FTX, and Coinbase Invest in Paxos Two leading cryptocurrency exchanges and the second-biggest U.S. bank invested in Paxos, a New York-based blockchain infrastructure firm that focuses on offering clearing and tokenization…

Global Cryptocurrency Adoption Doubled Since January Reaching 221 Million Users: Report

July 31, 2021 willmeet22

A new report issued by Crypto.com, a cryptocurrency exchange and fintech services firm, discovered that the number of people using cryptocurrencies has more than doubled since January, reaching 221 million last June. The report states that the rise of the defi movement, institutions like Tesla, Visa, Mastercard, and Microstrategy adopting cryptocurrency, and El Salvador establishing bitcoin as legal tender, were important events that helped to popularize crypto even more. Cryptocurrency Userbase Jumps to 221 Million Worldwide, According to Crypto.com Report Crypto.com’s “Measuring Global Crypto Users” report found that the number…

GOP to Herschel Walker: Consider staying on the bench

July 31, 2021 willmeet22

Republicans loved seeing Herschel Walker score touchdown after touchdown. They doubt he can carry them to the Senate majority. Walker is a former NFL star and Donald Trump’s favorite to take on Democratic Sen. Raphael Warnock in the Georgia Senate race next fall. But as years-old allegations about Walker’s marriage and business dealings weigh on his potential bid, Senate Republicans are raising concerns about his past in a state widely viewed as their best pickup opportunity next year. “Some of it’s pretty bad, obviously: physical abuse and pulling a gun…

Trump pressured DOJ to call election ‘corrupt,’ ex-official wrote

July 31, 2021 willmeet22

Former President Donald Trump pressured top Justice Department officials to publicly call the 2020 election “illegal” and “corrupt” and “leave the rest to me,” according to handwritten notes released by a House committee on Friday. The notes, written by former acting Deputy Attorney General Richard P. Donoghue, shine additional light on the Trump’s unprecedented effort to overturn President Joe Biden’s victory during his waning days in office, based on false claims of fraud. Donoghue’s notes detail a Dec. 27, 2020, phone call with Trump and then-acting Attorney General Jeffrey Rosen,…

Justice Department says Democrats are entitled to Trump’s tax returns

July 31, 2021 willmeet22

The Justice Department said Friday that former President Donald Trump’s tax returns should be released to congressional Democrats, though the administration said it won’t hand them over without first giving Trump a chance to respond in court. Reversing a legal opinion by the Trump administration, the department said lawmakers are entitled to the information under an arcane law allowing the heads of Congress’s tax committees to examine anyone’s private tax information. “The Chairman of the House Ways and Means Committee has invoked sufficient reasons for requesting the former President’s tax…

Central Bank of Ireland Governor Talks Crypto, Praises ‘Secure, Decentralized’ Technology

July 31, 2021 willmeet22

Gabriel Makhlouf, the governor of the Central Bank of Ireland (CBI), has published a blog post in which he shares his views on the digitalization of finance. While echoing concerns expressed by his counterparts regarding cryptocurrencies, the official has also highlighted some of their positives. Don’t Ignore the Positive Elements of Crypto Technology, Central Bank Governor Says The article titled “Digital Money” was published on the bank’s website on Thursday. In the post, Gabriel Makhlouf discusses the project to issue a digital version of the common European currency. The European…

Breaking NFTs to Pieces: These 4 Projects Are Fractionalizing Grimes, Banksy, Cryptopunk NFTs

July 30, 2021 willmeet22

While non-fungible token (NFT) collectibles have been all the rage, a few projects have been developing the concept of fractionalized NFTs so investors without deep pockets can purchase shares of an expensive collectible. On Thursday, the firm Otis revealed that people can invest in an NFT created by the world-famous Canadian musician and record producer Grimes. The platform allows anyone to purchase a small fraction of the recording artist’s artwork called “Newborn 1 & 3.” Grimes’ Artwork ‘Newborn 1 & 3″ Gets Fractionalized During the last 30 days, statistics from…

CDC under fire for decision to limit tracking of Covid-19 cases in vaccinated people

July 30, 2021 willmeet22

The Centers for Disease Control’s limited tracking of Covid-19 cases in vaccinated people is hindering public health officials’ attempts to stem the nationwide surge of the highly transmissible Delta variant. The agency said in May that it would stop routinely tracking so-called breakthrough infections that didn’t lead to hospitalization or death. Several states then stopped tracking mild breakthrough cases, and at least two states told POLITICO they are having trouble reliably tracking infections in vaccinated people. Now some public health experts and lawmakers are pressuring the CDC to reverse its…

Report Suggests Robinhood Owns Largest Dogecoin Address and Third-Largest BTC Wallet

July 30, 2021 willmeet22

Last February the crypto community was obsessed with a specific dogecoin address that happens to be the largest dogecoin holder today with over 36 billion DOGE. One armchair sleuth studied a number of onchain transactions and suspected the company Robinhood owned the wallet. Now the individual has researched the topic again and claims the latest findings help confirm the dogecoin wallet does belong to Robinhood. Alongside this, the person suspects Robinhood controls the third-largest bitcoin wallet as well. Onchain Research Suggests Robinhood Not Only Owns the Mysterious Doge Whale Wallet,…

Finland Looking for Brokers to Sell Seized Bitcoins Worth $80 Million

July 30, 2021 willmeet22

Finland’s customs authority is looking for brokers to sell 1,981 bitcoins seized in drug cases. The coins are currently worth nearly $80 million. Finland’s customs authority announced Thursday that it is seeking brokers to sell 1,981 bitcoins seized in drug busts, Bloomberg reported, noting that the coins were forfeited to the state by court order. At the time of writing, the bitcoin stash is worth $78.75 million. Most of the seized coins were accumulated in raids before 2018. The Finnish State Treasury set out guidelines for handling crypto assets that…

‘Complete disaster’: Inside the Biden team’s chaotic bid to evacuate Afghan interpreters

July 30, 2021 willmeet22

President Joe Biden had just announced plans to withdraw all American troops from Afghanistan in April when, during a classified briefing with top national security officials on Capitol Hill, one lawmaker stood up and asked a pointed question. What was the Biden administration’s plan to evacuate the thousands of Afghan nationals who aided the U.S. war effort, and expedite their visas? Defense Secretary Lloyd Austin didn’t have an answer. “We’ll get back to you on that,” Austin said, according to two people in the room and a defense official familiar…

CDC releases data behind latest mask guidelines

July 30, 2021 willmeet22

The Centers for Disease Control and Prevention has collected data that suggest fully vaccinated Americans who contract the Delta variant can spread Covid-19 as easily as unvaccinated people infected with the variant. The hotly anticipated study helped convince the agency to revise its guidance on mask-wearing earlier this week, when it said vaccinated people should wear masks indoors in areas with high levels of Covid-19 transmission. But CDC had not made the data underlying its decision public until now. The agency worked with the Massachusetts health department to track a…

Senate takes next step on infrastructure, after floor drama

July 30, 2021 willmeet22

The Senate took the next step Friday to move forward on the bipartisan infrastructure package, after a brief procedural skirmish. In a 66-28 vote, the Senate advanced the $550 billion agreement on physical infrastructure, even as the final legislative text was still being worked out. While the Senate is plowing ahead, the legislation is far from across the finish line. Negotiators are still ironing out issues, including on broadband. And once the text is finished, it will be subject to an arduous amendment process. In his opening remarks Friday, Senate…

Malaysia Takes Enforcement Actions Against Binance, Advises Investors to ‘Withdraw All Investments Immediately’

July 30, 2021 willmeet22

The securities regulator of Malaysia has taken enforcement actions against the global cryptocurrency exchange Binance. Noting that the exchange is operating illegally in the country, the regulator has advised those who currently have accounts with Binance “to immediately cease trading through its platforms and to withdraw all their investments immediately.” Malaysia Issues Public Reprimand Against Binance The Securities Commission Malaysia (SC) announced Friday “enforcement actions against Binance for illegally operating a digital asset exchange (DAX).” Under Malaysia’s regulation, digital asset exchange operators must be registered with the Securities Commission as…

The Midterms Will Be Crucial for Women. Why Are So Many Disengaged?

July 30, 2021 willmeet22

The pandemic turned many American women’s lives upside down. At the height of the Covid outbreak, women were more likely to be the service workers who lost their jobs and the essential workers who had to continue to show up. Millions of women dropped out of the workforce, and more than a year later nearly 2 million still haven’t returned. Many caregivers, who are disproportionately women, still don’t have reliable childcare. As a result, it’s women who arguably stand to gain and lose the most in the upcoming 2022 midterm…

Paypal Unveils Plans to Expand Cryptocurrency Services With ‘Super App’ and Open Banking Integration

July 30, 2021 willmeet22

Payments giant Paypal has outlined its plans to expand cryptocurrency services, including via a new wallet “super app,” open banking integration, U.K. expansion, and third-party wallet transfers. “We continue to be really pleased with the momentum we’re seeing on crypto and we’re obviously adding incremental functionality into that,” said Paypal’s CEO. Paypal Reveals Crypto Plans, Details of ‘Super App’ Paypal CEO Dan Schulman talked about his company’s crypto plans and the progress of the upcoming “super app” during the payments giant’s second-quarter earnings conference call Wednesday. “I’m pleased to report…