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Thursday, July 22, 2021
China Crypto Miners Plot Their Next Moves to Evade Crackdown
Attendees of the event in Chengdu, China, were clear about why they turned up in the middle of a government crackdown on Bitcoin mining. They’re looking for ways to stay in crypto, even if it means testing their luck in lesser-known parts of the ecosystem that may or may not incur the wrath of Beijing.
While plenty of miners have fled China, these crypto diehards are betting they can continue to thrive under Communist Party oversight by shifting into lesser-known tokens and decentralized storage technologies with names like Filecoin, Swarm, Silicoin and Chia. It’s a high-risk wager at a time when Xi Jinping’s government is ramping up scrutiny of energy-intensive industries and anything that could pose a risk to financial stability.
Filecoin is a “grey area business that hasn’t yet caught regulators’ attention,” said Tom, who works for a Shanghai-based firm that makes mining machines. Like many of the people interviewed for this story, he asked not to use his full name given the sensitivity of the topic in China.
Despite the steady drumbeat of headlines on China’s crypto crackdown, the mood at the Chengdu Marriott Hotel Financial Centre was generally upbeat. At a pre-conference schmoozefest not far from the hotel, attendees toasted each other with Moscato Rose wine and Harbin beer, while nibbling on yam chips, platters of fruit and mini-cakes.
A miner surnamed Li said she was initially upset after China imposed a sweeping ban on Bitcoin mining and trading in late May, but had since moved into Filecoin mining, which she hoped would be more stable since it was “less energy consuming.”
Wang, another miner at the party, said he was investing heavily in Ethereum and planning to more than double from 30 the number of mining complexes he runs across eastern China, including one on Shanghai’s Chongming island, an area known for its wetlands.
Zhu Can, whose firm Smart Cloud Computing owns data centers and assembles machines, is betting on Swarm. The coin’s miners are rewarded for the data storage and processing services they provide, which are then used in the so-called distributed storage ecosystem as payment for data interactions, Zhu said. He was optimistic the government would endorse the digital asset even as it cracks down on other areas of crypto.
“It’s just like back when the Internet was here and a lot of people used the technology for frauds,” Zhu said. “That’s something that must be cracked down by the government.”
China has banned crypto exchanges and initial coin offerings but has not barred individuals from holding virtual currencies. Anhui province pledged earlier this month to shut down all crypto mining projects within the next three years, following similar efforts by Inner Mongolia, Yunnan and Sichuan. China also arrested over 1,100 people last month for involvement in activities that used cryptocurrencies for money laundering.
Tan Weizhe, managing partner of Zhizhen Capital, said many Chinese miners are adopting a wait-and-see approach for now. Still, he expects a big shift overseas to occur around China’s National Day holiday in October, given the more favorable legal environment in places like the U.S. His firm offers mining power migration services and runs crypto mining operations in the U.S., Canada and Australia.
“Mining machines are considered personal property in a democratic country and thus somewhat sacred and inviolable,” Tan said.
INCC Completes Acquisition of SoundTech AI, Inc.
International Consolidated Companies, Inc. (OTCPink:INCC), completes the acquisition of SoundTech AI, Inc. for $150 million of preferred X stock effective today July 22nd, 2021. As part of the transaction, Eric Koenig, CEO of SoundTech AI, Inc., and Anthony Gallo, Chief Legal Officer of SoundTech AI, will join the board of directors of INCC effective immediately with today's closing date.
Anthony Gallo, newly appointed INCC board member explained, "It is truly exciting to be at the forefront of an incredibly important technology that will transmorph the way in which music is made, heard, perceived and experienced. I look forward to working with our operating team and our partners at INCC to realize the vision of SoundTech AI."
As previously reported, SoundTech AI has developed an unprecedented Next Generation 360 Immersive Audio Experience delivered through its proprietary software that bridges quantum computing and artificial intelligence to transform sound and music forever.
SoundTech AI's flagship product, Holographic SoundField (HSF™), is a landmark achievement for all fields of entertainment; providing its proprietary and patent pending enhanced audio and 3D sound technology for live concert performances, recorded music, streaming, films and gaming.
The listener will be fully immersed in multi-dimensional audio that does not require the purchase of additional or special hardware or equipment.
SoundTech AI's transformative and immersive Holographic SoundField™ technology is enabled by AI audio software that has a zero-install download for immediate streaming delivery to ANY device including:
- Headphones, Earbuds or Inner Ear Monitors
- Speakers (Smart speakers, Stereo Speakers, wireless or wired)
- Gaming (Xbox, PlayStation and IOS/Android)
- Home or Movie Theater (THX, Dolby & digital theater formats)
- Streaming/Broadcast Services (Audio Streamers, Video Streamers)
- Concerts, Live Events and Performances
Mark Romeo, Chief Marketing Officer commented, "High Quality, Digital Audio has finally arrived, it's called HSF™. Our tech leverages the highest quality digital formats available - far beyond CD quality. What's super-exciting is that the HSF™ technology enhances the audio quality of all best-in-class audio standards, including: Dolby Atmos, THX Sound, DBX, to name a few. We look forward to working with the world's leading media companies to bring the highest quality digital sound into the 21st century".
SoundTech AI's extensive intellectual property portfolio includes exclusive licenses on one issued monumental patent, six pending patents, and 26 trademarks. The company will launch its revolutionary HSF™ software Q1 2022.
Antonio Uccello, Chairman of INCC remarked, "As tech-entrepreneurs, our team was so impressed by the SoundTech AI's Disruptive Audio Technology and the company's accomplished tech, marketing, and creative management team, we immediately jumped in to this culturally transformational venture! Our management and board were blown away by what we heard. Ground-breaking tech and the ability to hear exceptional sound on any device just like the master recording is a win! We look forward to working with SoundTech AI to efficiently deploy investment capital to become the recognized market leader in the rapidly growing enhanced audio market."
The company's blue-chip management team includes:
CTO, Chief Scientist, and Co-Founder Andrew Denis. Andy was involved in the conception and formation of the MIT Media Lab, NEXT Computer (acquired by Apple), the initial programming and creation of Bitcoin, and many other ground-breaking technologies.
CEO, Chief Innovation Officer, and Co-Founder Eric Koenig is a seasoned IP developer and tech entrepreneur. Eric has filed over 50 patents in a variety of industries including mobile technologies, interactive advertising and branded entertainment, voice search, social media, gaming and blockchain, eCommerce, augmented reality, the medical field, quantum computing, artificial intelligence, machine learning, and others. Over the last 30 months, Eric has transacted, via license or sale, more than a dozen of his patents.
Chief Financial Officer, Denise DePaola is a well-credentialed financial executive and Certified Public Accountant who grew and sold her firm Fundadministration, Inc. to the largest hedge fund administrator in Australia. Mainstream Group, a public company, traded as MAI on the ASX, acquired Fundadministration, Inc. in a multi-million-dollar cash and stock transaction.
Chief Marketing Officer, Mark Romeo is a marketing and media executive with 20-plus years of experience launching new products and services in multiple industries. Mark was the founding CMO of Fresh Direct (2020 Sales $1.1B, sold to the world's largest grocer Royal Ahold in 2021). He was the creator and co-founder of The Brand Experience Lab, a technology product development incubator that developed and sold Guitar Hero to Viacom for over $350 million and sold Jestertek to Sony PlayStation for an undisclosed fee.
Rounding out the senior management team are four entertainment industry heavyweights to drive revenue throughout enterprise and consumer market segments.
Chief Communications Officer, Mark Young is considered a marketing and branding maverick for music artists, celebrities and icons in the fields of entertainment, music, sports, and fashion. He's represented and collaborated with some of the most celebrated and legendary talent in the world, including Diana Ross, Whitney Houston, Jennifer Lopez, Earth, Wind & Fire, Naomi Campbell, Ciara, Babyface, Kenny G, and Seattle Seahawks' QB Russell Wilson. Young leads Media Relations at Arista and J Records and was instrumental in launching the careers of Alicia Keys, Maroon 5 and Rhianna.
Chief Legal Officer, Anthony Gallo is a leading music and entertainment attorney who has represented some of the top-selling musicians, producers, executives and industry entities of the past two decades. Clients have included, Ric Wake, Amber Ferrari, Connie Stevens, Richie Cannata, Eren Cannata, Gina Styles (Vixen), Jon Bellion, John Gatto, (Good Rats), Joe Franco (Good Rats), Los Hombres, Edwin Yearwood and Krosfyah, Red Cat, Lords of 52nd Street (Billy Joel), Black Ink Music Publishing, Brown Dog Records, Ltd., and Cove City Sound Studios, Inc.
Creative Business Development Officer, Genesis Jones is an entertainment thought-leader and creative innovator as a recording artist, songwriter, music producer, and executive producer of films, television, and global live events. She is co-founder of the annual Atabey St. Barth's featuring music, fashion, art and benefiting ocean conservation in the Caribbean. She is responsible for driving revenue growth across multiple industry segments and leads the company's global philanthropic endeavors. Jones also serves as Global Ambassador for The United Nations Women for Peace Association.
Vice President of A&R, Eren Cannata is an Emmy award-winning songwriter, producer, musician, and co-owner of Cove City Sound Studios in Glen Cove, New York. Cannata has collaborated with top music artists and producers including Demi Lovato, Justin Tranter, Fifth Harmony, CID, Alma, Nina Sky, Timbaland, Shea Diamond, and Ron Pope. Eren has an advanced degree in music production and business from the prestigious Clive Davis Institute of Recorded Music at New York University's Tisch School of the Arts. Eren helped create the current songwriting curriculum at the school and continues his involvement through teaching and mentorship. He has worked with the Boys and Girls Club of America on a premier program called, S.O.N.G. (Sounds of a New Generation), teaching the art of writing and creating a hit song to inner-city kids.
Source: International Consolidated Companies, Inc.
https://www.accesswire.com/656711/INCC-Completes-Acquisition-of-SoundTech-AI-Inc
๐ฌ๐ฌ๐ฌ CRYPTO WEEKLY MARKET UPDATE ๐ฌ๐ฌ๐ฌ https://jeritex.com
๐ฌ๐ฌ๐ฌ CRYPTO WEEKLY MARKET UPDATE ๐ฌ๐ฌ๐ฌ https://jeritex.com
๐ธInvestopedia. BlockFi Updates Its Bitcoin Credit Card, Announces Launch. The updates should make the card more competitive with other crypto rewards credit cards that have been announced.
๐ธIndia Today. Cryptocurrency price daily update: Bitcoin, Dogecoin fall over 1%, Ether gains
๐ธFortune. Breaking down Elon Musk’s latest market-moving Dogecoin tweet
๐ธForbes. Update: Tesla Billionaire Elon Musk Outlines ‘Visa Speed’ Dogecoin Upgrade Plan After Serious Bitcoin And Ethereum Warning. Forbes' definitive guide on crypto and blockchain Find out how cryptoassets are changing the world and how you can leverage them.
๐ธFinancial Post. After 19,000% early gain, crypto SafeMoon’s rules to tamp down selling raise red flags
๐ธNasdaq. How the E.U. Crypto Crackdown Could Impact U.S. Investors
[๐ธInvesting.com](https://๐ธInvesting.com). Cardano Shares Its Blockchain For Bitrue's Native Assets. Cardano Native Asset vs Ethereum. Cardano's Mary protocol upgrade was an epoch-making event for the network as it introduced native tokens.
๐ธCrypto Briefing. Cardano Preparing for Web, Mobile Integration.
Is it possible to hold/trade crypto for someone else and not be liable for tax or gain an exemption?
a few years ago i bought some bitcoin for a friend on their behalf, they were not comfortable trading or holding it securely. they asked me to do the trade for them and keep it safe.
i shouldnt have done this as im now on the hook for a CGT event when i finally transfer to him. when my friend wants the bitcoin back to sell to AUD. it will be a CGT event in my name i.e. the bitcoin transfer, not selling it to fiat.
is there anything in the tax laws to allow trading on someones behalf? by that i mean any CGT event is directed towards tehm when i moved the bitcoin to his exchange wallet to sell.
The only thing i can do is gift the bitcoin to him, by doing so, when he receives the bitcoin he can establish a cost basis of the value of bitcoin on the date of reciving it. if he sells for AUD at the same price he pays no tax. but doing this means i'll still have to pay the CGT. he's agreed to pay me what im liable for in tax, since we both didnt know about the tax laws at the time.
i doubt this exists, but wondering anyway; is it possible to trade crypto/shares on someones behalf where by any cgt events are delegated to them?
What is your sell strategy?
I know, I said the ‘s’ word which around here is nothing short of treason! But I’m more interested if you have a number you would be satisfied with to sell, or will you blindly hold for the next 30 years?
If Bitcoin hit 150k in 8 months would you sell? Or would you continue to ride that rocket ship up until it inevitably comes crashing down again? Are you saving for a home, to pay off loans, to retire early? Is there a specific amount that would get you out or have you not thought that far?
We are bound to go through higher highs and devastating crashes over the next 10 years and it’s important to have a strategy in mind that you will stick to when those events start to happen. Curious how other people are thinking about this?
What is happening to doge now is a very difficult and painful process of decoupling from btc price and emerging as the dominant crypto in the world of real commerce๐๐๐๐๐ค๐๐๐๐๐๐๐๐ Just look at the recent news with commerce payments in doge on coinbase!
The crypto markets are still driven by btc and right now it is actually the perfect storm for bitcoin which is dragging all other crypto down thru arbitrage trading. Here are just some factors weighing down on btc, crypto and doge by extension:
- China btc mining/tx processing ban
- Tesla drop
- Bitcoin energy inefficiency and environmental impact concerns from sustainability conscious institutional investors
This process of decoupling from btc and all things bitcoin is going to last for some time but when it is over doge hodlers are going to be rich. You know it, I know it, Vitalik knows it, and Elon knows it too..
Here's just some of the why:
- Doge adoption by businesses for real commerce is rapidly expanding not just in the US but globally. Recent addition toncoinbase commerce payments platform is just another sign of many.
- Doge daily trading volumes have been shattering all records with 1250% rise to $1 billion in Q2 of this year
- Upcoming doge platform upgrades such as SegWit and Check Sequence Verify will result in 99% drop in tx fees, improved doge tx speed and overall platform scalability - (all spearheaded by Musk) - which may lead to doge adoption by Tesla and other big businesses
- Multiple future events like Doge-1 mission to space will continue to contribute to doge popularity
- Doge brand is akin to Apple in terms of positive emotions it evokes among consumers (marketologists luv this kind of isht. doge brand already sells a lot of product today!! from slimjiim to merch to dogecan by axe.. etc. etc.)
Again the process of doge breaking away from BTC will be wobbly and at times painful with dips twists and turns as we have been experiencing for 2 months now. However, the things that have happened in just the last 3 months have already made it abundantly clear that doge crypto dominance is inevitable.
Doge is happenan and it is real. So much for a joke lol. Looks like fate does love irony after all..
to the moon shibe! ๐ค๐๐๐๐๐๐๐๐๐ spread the word and do only good everyday !! and HODL
What major event does the market need to rocket back to space?
We all know the crypto market is young and volatile. It relies heavily on emotions much more than other markets. So what is that one event you think would break the roof off the crypto market and set the market to new heights?
For example, Elon's influence initally got a ton of people into the crypto market and created a crytpo craze which has only now started to die out. Does Bill Gates need to tattoo Bitcoin on his ass or does Jeff Bezos have to pay his hookers with ethereum? What needs to happen?
5 Things
Biden plays down inflation fears, Bitcoin believers out in full force and vaccine push intensifies.
I-word President Joe Biden waded into the inflation debate again last night, expressing confidence that rising prices are temporary and won't translate into “long-term inflation that’s going to get out of hand.” Republicans have criticized Biden following the biggest surge in consumer prices in more than 12 years, while blaming widespread labor shortages on unemployment benefits. Biden said at a CNN town hall event that workers in restaurants and the hospitality sector are seeking better wages and working conditions. Price pressures are also in focus in Europe, where the central bank will unveil its first policy decision since raising the inflation goal to 2% earlier this month.
Bitcoin love Bitcoin steadied at around the $32,000 mark after comments from Elon Musk, Jack Dorsey and Cathie Wood gave a boost to the beleaguered cryptocurrency. At “The B Word” event, Tesla Inc. CEO Musk revealed that his space exploration company SpaceX owns Bitcoin and that he personally has bought Ethereum and Dogecoin. Ark Investment Management LLC’s Wood and Dorsey also gave full-throated endorsements. The digital token has been mired in a slump lately, sliding below the closely-watched $30,000 level earlier this week. Some, like Scott Minerd of Guggenheim Investments, expect things to get worse.
Sponsored Content Implications from PIMCO’s July Cyclical Outlook
PIMCO’s Group CIO Dan Ivascyn discusses three main risks to inflation, expectations for rates and where we see some of the best opportunities today. Watch now.
PIMCO
Virus Joe Biden urged more Americans to get vaccinated, saying that the coronavirus is only raging among those who have not received their shots and that those under 12 years old will be able to get inoculated “soon.” The president has previously lashed out at Facebook Inc. for helping spread disinformation, with the unvaccinated citing a litany of myths to explain their hesitance to get shots. The delta variant now accounts for more than 80% of U.S. cases. China, meanwhile, pushed back against the World Health Organization’s call for another probe into the pandemic's origins that includes examining whether it leaked from a lab, saying there’s no evidence for the theory. Researchers suggest India’s actual Covid death toll could exceed the official tally by millions.
Markets rise Global equities are set for the biggest three-day rally since April as strong earnings outweigh virus pessimism. Overnight, the MSCI Asia Pacific Index rose 0.9% while Japan’s Topix index closed 0.8% higher. In Europe the Stoxx 600 Index had climbed 0.8% by 5:40 a.m. Eastern Time, with travel and leisure shares leading gains. S&P 500 futures pointed to a modest rise at the open, the 10-year Treasury yield was at 1.28%, oil hovered near $70 a barrel and gold slipped.
Coming up... Weekly jobless data is due at 8:30 a.m., with economists predicting a slight drop in both initial and continuing claims. Existing home sales figures for June follow at 10:00 a.m. It's another big day for corporate earnings, with Twitter Inc., Intel Corp., AT&T Inc., American Airlines Group Inc., Snap Inc. and The Blackstone Group Inc. all reporting.
What we've been reading Here's what caught our eye over the last 24 hours.
Debt ceiling debacle threatens fireworks in money market. Tokyo Olympics fires ceremony director over 1998 Holocaust joke. New York now has better Indian food than London. This cult classic buy signal isn't to be trusted. Hamptons home prices surge to a record as pickings get slimmer. Work-from-home future fades in Asia. Western drought has lasted longer than the Dust Bowl. And finally, here’s what Justina's interested in this morning Bitcoin may have bounced back somewhat, but its decline over the months keeps reverberating across crypto markets.
Take decentralized finance. Users are motivated to stake their coins by the juicy yields, which are necessarily falling because of diminished token values and the fact fees are lower when sentiment is weak. For instance, volumes are in decline now, so decentralized exchanges are generating less revenue. Traders are less keen to lever up their crypto bets, so the yields on lending platforms are falling.
It makes sense then that the total value locked in DeFi has dropped to $57 billion from the $89 billion peak in May, shortly before the crash. (The number has already rebounded over the past few hours, possibly as crypto prices also recovered.)
Source: DeFi Pulse Source: DeFi Pulse Or consider some popular crypto trading strategies, like cash and carry, which goes short futures and long spot. That was nearly a no-brainer trade that buoyed many a crypto market-neutral fund. It’s no surprise that as this dried up, some funds have put more money back in cash or reported flat performance.
The lower volumes might also affect market-making strategies, another popular domain of these players.
This all points to an issue the regular writer of this newsletter, Joe Weisenthal, brings up a lot. What needs in the real world does crypto finance? Not a lot currently, which makes its ecosystem quite dependent on fundamentally unpredictable, self-reinforcing hype cycles.
Follow Bloomberg's Justina Lee on Twitter at @justinaknope
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Bitcoin will hit all-time highs again this year
Bitcoin will hit its previous all-time highs again by the end of the year with prices driven higher by the “carefully considered arguments” and “new measured tone” being put forward by the likes of Elon Musk, Jack Dorsey and Cathie Wood, affirms the CEO of deVere Group.
The bullish Bitcoin price prediction from Nigel Green, chief executive and founder of one of the world’s largest independent financial advisory and fintech organisations, follows Wednesday’s The B Word Conference.
At the live virtual event, Tesla and Space X founder Elon Musk, Twitter founder Jack Dorsey, and Ark Investment’s Cathie Wood all advocated for the cryptocurrency and talked about its massive future potential.
Bitcoin surged as much as 10% on the back of their comments.
Nigel Green says: “Musk, Dorsey and Wood are three of the most important and forward-thinking business leaders of our time. What they say matters.
“Crucially, the tone was less sensationalist than it has been in past, with all the panelists putting across carefully considered, fact-based arguments about why they are all bullish on the future of Bitcoin and crypto generally.
“This will not have gone unnoticed by investors.
“As such, I believe that with these hugely influential figures pursuing this stance and this new tone, we can expect the price of Bitcoin to hit, or even surpass, its mid-April all-time high of $65,000 by the end of 2021.”
Demand will boom because of what Musk, Dorsey and Wood said for two main reasons, says Mr Green.
“First, both institutional and retail investors were given a considerable crypto confidence boost by comments the panelists made about their own multinational businesses and their visions for the future.
“Musk, one of the world’s most successful and richest entrepreneurs, confirmed for the first time that both of his companies, Tesla and Space X, and that he personally, owned Bitcoin. And that neither he nor his companies, will sell the cryptocurrency. He also revealed Tesla is likely to restart taking payments in Bitcoin.
“Similarly, Dorsey hinted that Twitter will soon allow advertisers to pay for advertising on the giant social platform in crypto.
“He went on to say the cryptocurrency could function as the internet’s ‘native currency’ and this would help all businesses in a much faster way.
“Second, Dorsey and Wood - and Musk to a lesser degree - addressed the environmental impact of Bitcoin mining, an issue which has weighed heavy on the price in recent months.”
Wood, in particular, spoke about how Bitcoin aligns with the environmental, social, and governance (ESG) investing growth trend.
She highlighted how Bitcoin “will be much more environmentally friendly—certainly more than traditional gold mining or the traditional financial services sector. In many ways, it already is.”
She added that Bitcoin has much to offer in the ‘social’ bracket “by providing financially underserved people with “access to payment technology... everywhere around the world without friction”; and the ‘governance’ bracket by offering transparency “unlike the opaqueness of financial systems and the toll-takers in the traditional financial world.”
The deVere CEO affirms: “All of this will help drive Bitcoin prices higher and this will have a knock-on effect to the wider crypto market.”
He concludes: “The message from mega-influencers Elon Musk, Jack Dorsey and Cathie Wood was clear: crypto is the inevitable future.”
A DD on how SHF's are manipulating the art market, billionaires from all political parties and countries are colluding, and how the entertainment industry is becoming a propaganda machine against the poor. PART 2
Alright, for everyone who enjoys a good nutjob conspiracy theory, here's where it starts to get weird.
David Geffen’s far-reaching influence, as a Hollywood agent, manager, record industry mogul, Hollywood and Broadway producer, and supposed philanthropist, has helped shape American popular culture for the past four decades.
He also seems to have a professional, if not close, relationship with Steven Cohen. Take David Geffen's Dec. 27, 2011 endorsement of Connecticut hedge-fund operator Steven Cohen's bid to buy the beleaguered Los Angeles Dodgers from Frank McCourt for a non-art related example.
Additionally, at a time when many art institutions are struggling to meet ambitious fundraising goals, New York’s Museum of Modern Art has done what others have deemed impossible. New York’s Museum of Modern Art raised more than $400 Million for its expansion. Four people, Leon Black, David Geffen, Kenneth Griffin, and Steven Cohen gave more than 50 percent of the target sum.
David Geffen sold Jasper Johns’ “False Start” for $80 million and Willem de Kooning’s “Police Gazette” for $63.5 mil. The new owners are Kennith Griffin (who reportedly fell in love with the painting during a visit to David Geffen’s estate), and Steven Cohen, respectively. Both hedge fund managers adding these pieces to their ever growing art collections.
So who is David Geffen, and why do we care about him?
David Geffen has been a powerhouse in Hollywood since founding Asylum Records in 1970. He went on to also found Geffen Records and DGC Records. These labels are associated with some of the most prominent acts in music, including The Eagles, Bob Dylan, Elton John, Nirvana, and dozens of others.
He’s also a co-founder of DreamWorks SKG alongside Steven Spielberg and Jeffrey Katzenberg.
Ready for some more juicy Hollywood-style controversy?
David Geffen has been involved in wage theft, stealing from those working beneath him. Dreamworks animation was one of several animation companies forced to pay their artists higher wages in 2017 after being found guilty in a wage-fixing scandal to cut corporate costs. Collectively, artists from several companies were compensated 100 million dollars, which is less than one third the price of David Geffen’s megayacht by the way.
During the Covid-19 pandemic, David Geffen sent a virtual postcard to his 84,000 Instagram followers to let them know he too was feeling the hardships of enforced solitude. “Sunset last night…” Geffen wrote, to accompany al photograph of his vessel resting at anchor in the picturesque Caribbean sea. David Geffen also likes to share photos of many of his famous guests on Instagram. It seems that once you become one of the world’s super-rich and super-powerful, you get an invitation to hang out on David Geffen’s $590 million megayacht in some glorious, sunny locale.
David Geffen goes back a long way with disgraced former CBS Chief Les Moonves. In 1994, he and his DreamWorks co-founders, Steven Spielberg and Jeffrey Katzenberg, had asked Les Moonves to be the fourth partner in founding the studio.
Les Moonves engaged in multiple acts of serious non consensual sexual misconduct in and outside the workplace, both before and after he came to CBS. Les Moonves tried to hide evidence about multiple claims of sexual misconduct, and in 2019 even left the country to stay on David Geffen's megayacht off of the island country St. Barts during these allegations.
David Geffen’s guests have included President Barack Obama and his wife, Michelle, as well as Oprah Winfrey, Gayle King and Maria Shriver. Other guests have included Tom Hanks, Julia Roberts, Leonardo DiCaprio, J.J. Abrams and Paul McCartney.
In the summer of 2016, after Trump clinched the Republication nomination, David Geffen, a strong supporter of the Democratic party, hosted Ivanka Trump and Jared Kushner on his megayacht when it sailed to the coast of Croatia.
David Geffen has also hosted Ivanka Trump’s friend Dasha Zhukova. She’s the wife of Russian oligarch Roman Abramovich, a longtime supporter of President Vladimir Putin. Incidentally, Roman Abramovich, had his yacht anchored off St. Barts, and hosted Paul McCartney on his $1.5 billion boat, the same days David Geffen and Les Moonves were also there.
In 2019, Jeff Bezos had a hectic summer fighting alleged tabloid blackmailers, escalating the private space race with Elon Musk, and attempting to keep Amazon out of Elizabeth Warren’s crosshairs. So, in need of a little R&R, the Amazon CEO and his girlfriend, Lauren Sanchez, did what all billionaires do when they want to cut loose: party on David Geffen’s megayacht off the coast of Spain.
Jeff Bezos, the richest man on the planet, was pictured lounging on a beanbag chair alongside Sanchez, model Karlie Kloss, her husband Josh Kushner, brother of Jared Kushner, former Goldman Sachs chief Lloyd Blankfein, and David Geffen. The group also posed for a photo aboard the 453 foot boat.
The boat, known as the Rising Sun, is the world’s eighth largest yacht and comes with 82 rooms on five decks, a gym with spa and sauna, a private cinema and a basketball court on the back. David Geffen bought the megayacht from Oracle founder Larry Ellison in 2010.
David Geffen would also spend days on the Rising Sun megayacht with his ex-boyfriend Jeremy Lingvall. When they first started dating, Jeremy Lingvall was met with a hostile reception among some gay commentators and blogs with claims that he was using David Geffen as a ‘sugar daddy’. The decision to part ways brought down the curtain on one of the most publicly controversial relationships in recent times; two openly homosexual men with a 41-year age difference and vast differences of financial wealth.
Okay, okay. Enough about the Rising Sun. He's got a megayacht that he invites opposing high profile politicians, celebrities, and his boy friends on, but so do other rich people from time to time. Who cares if a Russian oligarch just happened to be docked in the same harbor that David Geffen and former major news network chief Les Moonves were at. It's all probably just coincidental. Nothing too nefarious, right?
But what about David Geffen's second yacht?
Geffen also owns the 377-foot ‘Pelorus’. The Pelorus, or ‘vast’ in English, boasts two helicopter pads, a swimming pool, an owner’s suite with 180-degree panoramic views and a staff of around 40 on duty to cater to its owner’s whims. Remember how Ivanka Trump is good friends with Dasha Zhukova, the art-collector wife of oligarch Roman Abramovich, one of the richest men in Russia? David Geffen bought the Pelorus from Russian oligarch billionaire Roman Abramovitch for a reported $300 million. As in the Roman Abramovich who isn’t just the owner of the Chelsea soccer club, but also a member of Putin’s inner circle.
But what about when David Geffen isn't on his yacht?
During the 2016 U.S Open Tennis Finals, Ivanka and Jared were photographed together with Dasha Zhukova in VIP seats. Also in the box was Wendi Deng, as well as billionaire entertainment mogul David Geffen and Princess Beatrice of York.
Also, in 2016, Hollywood mogul David Geffen was one of the first Americans named in the Panama Papers leak as someone holding money in foreign countries. Americans in this leak didn't have their money overseas to hide from taxes, but to hide money they got in other ways that are not legal. It's not the average rich guy, it’s the rich guy who’s really doing something wrong who is in the Panama Papers data.
This is a good time to step back and remember that David Geffen has publicly stated that he is a strong supporter of the Democratic party. Though, in 2016, David Geffen's sharp criticisms of Hillary Clinton and her husband in a New York Times column ignited a war of words between the campaigns of Barack Obama and Hillary Clinton, bringing to a head long-simmering rivalries for donors between the two superstar presidential contenders. In 2019, among Republican ran "Lincoln Project" PAC's top 10 donors in 2020 are David Geffen, as well as fellow Dreamworks co-founder and Quibi CEO Jeffrey Katzenberg. Also listed as donors are AMC Theaters CEO Adam Aron, and MGM chairman Michael De Luca. The Lincoln Project released a series of anti-Trump videos in the hopes of them going viral. Later controversy over sexual harassment allegations of leading members of the Lincoln Project cause the PAC to fall apart.
Again, I don't support any political parties personally, and I hate that I even had to bring them up. I swear this all ties back to Steven Cohen and Kenneth Griffin though, just keep reading to find out.
If you're not familiar with the tale of Teofil Brank, let's play a little game of catch-up. In 2015, the Romanian-born Teofil Brank, better known by his porn name Jarec Wentworth, blackmailed Florida business tycoon Donald Burns out of $500 thousand and an Audi R8 sports car by threatening to expose the lurid details of their relationship. Jarec Wentworth tried a second time to blackmail Donald Burns, but was instead arrested in a sting operation by the FBI when he went to collect.
The case, which went to a federal district court, is full of salacious details about private planes, luxurious parties ending in group sex, and envelopes full of cash handed out to participants the next morning.
But it’s the testimony of Justin Griggs, a porn actor and prostitute, that really stands out.
According to the testimony, Justin Griggs recently had dental work paid for by a “friend," but not his friend Donald Burns.
"You mentioned you didn’t want to give details about an individual because he was very powerful and you feared for your safety if you disclose information. Who were you talking about there?” Brank's attorney Ashfaq Chowdhury says.
"Should I give you the name of the person?" Justin Griggs asked.
"Yes," Ashfaq Chowdhury replied.
"David Geffen," Griggs answers.
It only gets worse from here as we further dive into David Geffen's other legal scandals.
According to Jamie Kuntz’s lawyer David Wohl in 2014, his client and David Geffen enjoyed a physical relationship, but when Jamie Kuntz caught feelings and it wasn’t reciprocated, David Geffen filed for a restraining order. David Wohl insists Jamie Kuntz is not a stalker. He’s just misunderstood.
20-year-old Jamie Kuntz had been accused of stalking the 71-year-old for the past several months. Jamie Kuntz and David Geffen first hooked up when Jamie Kuntz was 18. In 2012, the teenager was kicked off his college football team after being spotted making out with the then 69-year-old billionaire in a press box. He told teammates David Geffen was his grandfather. The school maintains that he wasn’t removed from the team for being gay, but because he lied about the kiss.
If the 41 year gap between David Geffen and Jeremy Lingvall didn't seem strange, the 51 year gap between Jamie Kuntz and David Geffen at least should.
Continuing on.
Digital pioneer Marc Collins-Rector lost millions before he vanished, but perhaps the strangest twist in this strange story is why Marc Collins-Rector fled the country in the first place. He believed that David Geffen, his investor and one of the most powerful men in Hollywood, wanted to destroy him.
By 2000, he had raised millions for a precursor to YouTube, called Digital Entertainment Network, or DEN, with the pioneering idea to distribute video entertainment not through theaters or television but on the internet. The company produced its own content, as Netflix does now, and Marc Collins-Rector even patented a video advertising method that Google has used for its own advertising efforts.
Running his business out of a Los Angeles mansion, he and his two business partners, his boyfriend at the time, Chad Shackley, and former child star Brock Pierce, (who later became the chairmen of the board of the Bitcoin Foundation), hosted lavish parties attended by Hollywood’s gay A-list. Their guests included relative newcomer Bryan Singer, the director of the X-Men movies, and legendary media mogul David Geffen, both of whom were investors in DEN.
In September 1999, DEN filed papers with the Securities and Exchange Commission to sell $75 million worth of stock in an initial public offering, or IPO. But hanging over the company’s future was a civil lawsuit in which a New Jersey boy alleged that Marc Collins-Rector had lured him to Michigan and California to sexually abuse him. According to a court document, Marc Collins-Rector settled the suit for $1 million. He did so, according to two people with knowledge of the matter, in order to shield the company from bad publicity.
Then, on May 7, 2000, the Times ran an article headlined “How a Visionary Venture on the Web Unravelled,” unleashing a media firestorm that branded Marc Collins-Rector as a child abuser and chastised DEN for spending investors’ money on parties allegedly teeming with drugs and teenagers.
It was at those parties that Marc Collins-Rector, and others, allegedly sexually assaulted half a dozen teenage boys, according to two sets of civil lawsuits, the first filed in 1999–2002, and the second later in 2014.
In his 2003 deposition, Brock Pierce said that Chad Shackley started tracking 18-year-old Alexander Burton’s computer activity and found that Alexander Burton, who played Pyro in Singer's first X-Men movie, had been sending emails to David Geffen. Alexander Burton, Brock Pierce alleged in his deposition, was paid by David Geffen “to spy and collect information, and to steal faxes out of the fax machine, and send this information to him.” Moreover, Brock Pierce stated, David Geffen was a friend of the Los Angeles Times reporter who broke the story.
In his deposition, Brock Pierce described how Collins-Rector had repeatedly refused David Geffen’s offers to buy the firm. David Geffen, Brock Pierce said, responded: “I’m going to take your business whether you like it or not.”
Brock Pierce swore under oath in 2003, the former DEN executives furiously confronted Alexander Burton. According to Brock Pierce’s deposition, Alexander Burton left the house yelling that he would be at David Geffen’s, and they were “going to regret the day” they met him.
The three entrepreneurs fled to Spain, and a month later Alexander Burton filed a sexual-assault lawsuit in Los Angeles Superior Court alleging that Marc Collins-Rector, Chad Shackley, and Brock Pierce had systematically raped and drugged him, even threatening him with a gun. Mark Ryan and Michael Egan, two young men who had worked for DEN, were listed as co-plaintiffs in the complaint. At least four other lawsuits followed in the ensuing months, all alleging sexual abuse by Marc Collins-Rector against adolescent boys. Some of the plaintiffs were awarded default judgments because the defendants failed to respond to the allegations.
Alexander Burton eventually dropped all charges against Brock Pierce. Mark Ryan settled, apparently without damages. Egan also later settled with Brock Pierce, for $21,600. Chad Shackley does not appear to have paid any of the outstanding default judgments against him.
In Spain, Marc Collins-Rector, Chad Shackley, and Brock Pierce got involved with a new internet venture: Internet Gaming Entertainment, or IGE, a company that pioneered commerce within the world of Massively Multiplayer Online Role-Playing Games, or MMORPGs.
Such video games, the most famous of which is World of Warcraft, are sprawling, immersive affairs where players can spend endless hours manipulating avatars through fantastical landscapes, where they scheme and battle with other characters. Players also earn digital currency, which they can use to purchase virtual goods: a new battle axe, say, or enhanced magical powers. IGE was one of the first outfits to trade in such digital wares. By skillfully playing the games themselves and hiring others to do so, the company’s founders accumulated currency within the virtual realms, then sold it to other players for real-world money. IGE, in short, made imaginary gold real.
On May 17, 2002, Spanish police raided the house in Marbella. Court records show that Collins-Rector was turned in to the European authorities by an unnamed person who had done computer work for Collins-Rector and downloaded documents that were later used as evidence against him. At the Marbella house, according to a report that Business Insider's John Gorenfeld obtained from Spanish authorities, police found at least 8,000 images of child pornography.
"I certainly never saw any evidence of child porn in that house," Brock Pierce told BuzzFeed. If his housemates had any, he said, “they certainly hid it from me. And I'm not sure I believe the police report at the end of the day.”
When Collins-Rector returned to America to stand trial in October 2003, his time in the Spanish prison system had apparently taken a toll on his mental health. His first hearing was postponed after he appeared dazed and unwell in court, claiming that he had not been given his medication. He then spent months in a federal psychiatric facility.
In the course of his long unraveling, Marc Collins-Rector pleaded guilty in a U.S. District Court to transporting minors across state lines for the purpose of sex, was allegedly tortured in a Spanish prison, and self-published the first chapter of a science fiction novel that follows the adventures of a teenage boy charged with leading humanity to its next evolutionary stage.
David Geffen was not accused of any misconduct in the suits nor named as a defendant. His attorney said that David Geffen on occasion was a guest at parties given by DEN investors but recalls no one at them who appeared to be under age.
The reason for their sudden departure, Brock Pierce would swear in deposition, was that Marc Collins-Rector believed there was someone who wanted to take his business and possibly even kill him: David Geffen, the billionaire Hollywood power broker.
Almost everyone involved now says that Marc Collins-Rector was mistaken and that David Geffen did not pay Alexander Burton to spy for him and was not behind the leaks. All those denials, however, came later. More than a decade after making those sworn statements, and after repeated inquiries from reporters, Brock Pierce radically changed much of what he had said under oath.
Brock Pierce and Chad Shackley were not ever charged criminally. Chad Shackley has seemingly since disappeared from online searches, or at least ones I could find. Brock Pierce later became the chairman of the board for the Bitcoin Foundation in 2015, and in March of 2021, SRAX, inc, a financial technology company that unlocks data and insights for publicly traded companies, announced that Brock Pierce had joined the SRAX board of directors.
Since 2017, Citadel Investment Group, owned by Kenneth Griffin, has purchased at least 22,000 shares of SRAX stock. I unfortunately ran into a paywall when trying to dig further into this.
Brock Pierce was also invited by Jeffery Epstein to various events, first meeting him in 2011, 18 months after Jeffery Epstein had completed his slap-on-the-wrist solicitation sentence in Florida and registered as a sex offender.
But this isn't about Jeffery Epstein, it's about Kenneth Griffin and Steven Cohen, so I'm going to glaze over the Epstein ties and push forward. But first I must continue to go backwards in time, for one last story involving David Geffen.
Michael Ovitz, the former agent and manager who was once the most powerful and feared man in Hollywood, is now all but exiled from the industry. Michael Ovitz, whose Artists Management Group collapsed in 2001 and was sold for a bargain-basement $12 million to little-known music agent Jeff Kwatinetz, blames his business troubles on an enemies list that he says includes DreamWorks co founder David Geffen, Disney Chairman (and former Ovitz boss) Michael Eisner, rival talent manager Bernie Brillstein, Bryan Lourd, Kevin Huvane and Richard Lovett, partners at Creative Artists Agency (the talent agency that Ovitz used to run), Universal Studio president Ron Meyer (Ovitz’s former partner at CAA), Vivendi Universal Entertainment CEO Barry Diller, and New York Times Hollywood correspondent Bernard Weinraub. ”It was the goal of these people to eliminate me,” Ovitz once said in an interview. ”This business would have worked except for these five or six guys. They wanted to kill Michael Ovitz. If they could have taken my wife and kids, they would have.” Michael Ovitz routinely refers to these five or six guys as "the gay mafia."
In the late ’80s and early ’90s, when Michael Ovitz ran CAA, his specialty was the package deal, where he would force studios to put together movie deals where the stars, director, and writer of a film were all CAA clients. In those days, he regularly topped Hollywood power lists. But Ovitz, who had long wanted to run his own studio, took a job as Eisner’s No. 2 at Disney and was fired after a disastrous 14 months in 1996.
He invested in several other failed entertainment ventures, one of which was his company Artists Management Group, which produced several failed TV series (”Madigan Men,” ”The $treet”). Last minute capital infusions from Diller and AT&T failed to materialize, and Ovitz sold the business, costing him 200 million dollars.
”If I were to establish the foundation of the negativity, it all comes down to David Geffen and Bernie Weinraub,” Michael Ovitz says, blaming the Times reporter for giving the DreamWorks principal a media platform for his antipathy toward Michael Ovitz. ”David Geffen has always hated me. He got Ronnie Meyer to turn on me, and then Bryan Lourd and everyone else.” He says David Geffen persuaded Diller to back out of the 11th-hour deal to save AMG.
An alternate explanation for Michael Ovitz’s woes, one offered by Bernie Brillstein, is that Michael Ovitz shouldn’t have invested his own money in his high-overhead business. ”To finance a television business yourself is insane,” Bernie Brillstein said. ”We always had someone else pay."
Always had someone else pay. Now if that isn't the billionaire's motto, I don't know what is.
Now, here's the part where it all ties together. Michael Ovitz has stated that David Geffen is the head of "the gay mafia". This mafia supposedly has power and influence over, well, almost everything, especially when it comes to Hollywood. How does this tie into hedge funds shorting GameStop?
The U.S. Supreme Court decision in favor of same-sex marriage was welcomed by a perhaps surprising group: a conservative hedge fund manager.
Steven Cohen of Point72 Asset Management is among the top prominent hedge fund managers who have worked and donated funds in recent years in support of gay marriage, even as he openly disapproved of President Barack Obama and continues to support Republicans, not Democrats.
Before I drop the final bomb that finally convinced me I was on to something, I'd like to take a second and state that, just like my apathy towards political parties, I also hold no personal judgement on sexual orientations. I hope after reading this, you will agree that whatever arbitrary differences that have been used to pit the non-billionaire classes against each other must no longer divide us. We're all being played by one big club, and we're not in it.
Remember how Steven Cohen had some Hollywood style controversies? Well now, Steven Cohen’s name is being thrust into the Hollywood limelight.
During September if 2020, as the Covid-19 pandemic devastated the bank accounts of millions of people, Steven Cohen’s Connecticut-based venture fund, Point72 Ventures, quietly announced that it is helping to bankroll a new Los Angeles-based management and production firm, Range Media Partners. The company will be run by a cadre of agents from the big three agencies, CAA, WME and UTA, and aims to upend the representation business in Hollywood.
Steven Cohen, described as leading investor, will be joined by former New York Knicks Coach David Fizdale, former Microsoft CMO Mich Mathews-Spradlin, and Grubhub founder and CEO Matt Maloney, according to a statement from Range.
“The company is committed to providing equity to all founding staff, at every level, and recruiting and representing a diverse group of perspectives and background,” the statement said. “As a company deeply invested in the well-being of its employees, Range Media Partners will establish a broad-based ownership of the success of the company from day one.”
In a 20-page pitch deck to investors reviewed by The Times, the fledgling agency, initially dubbed Moxie Media, heralded itself as “the next revolution in media.”
Proclaiming further that the equity value in the major agencies is in “free fall,” the pitch went on to declare that “there has never been a better time to recruit high end representatives away from their current incumbent. We have never seen more high-end representatives ready to leave these institutions.”
Range Media, led by former CAA agent Peter Micelli, who most recently headed up strategy at production company Entertainment One, has already brought a dozen top names including CAA’s Dave Bugliari, Michael Cooper, WME’s Rich Cook and UTA’s Susie Fox, Chelsea McKinnies on board.
As unveiled in its prospectus, Range’s business model is to create companies around celebrities in the mold of Reese Witherspoon’s Hello Sunshine, whereby Range Media would own one-third, the celebrity another third, and a third-party investor raising $5 million to $7 million per star would take the remaining third.
The company also plans to generate revenue by offering in-house production services. As described in the pitch, “Unlocking the power of content creation to turn celebrities into curators. This will in turn create massive opportunities to drive direct to consumer businesses in a post Covid-19 world.”
Until now, Point72 has maintained four areas of focus: artificial intelligence, financial services, enterprise technology, and healthcare.
And now they are branching into entertainment. If you think the hedge fund controlled media is bad now, wait until every movie you watch, every song that you hear, and every video game that you play, is all pushing the same propaganda agenda for the billionaire class.
“Range is clearly trying to position itself as a one-stop shopping center where celebrities can have both management representation and financing for these expanded entities,” said Lindsay Conner, partner at Manatt, Phelps & Phillips. “It reflects how big these agencies and management enterprises have become and also reflects the perception of private equity that there is value to be had beyond the classic commissions that agents and managers have been receiving for over a century.”
“Michael Ovitz was the best agent ever and even he failed,” another partner noted. If Michael Ovitz truly failed because of what he called the "gay mafia" running Hollywood, than it would make sense why Steven Cohen and Kenneth Griffin would be funneling cash to David Geffen for access to the Hollywood markets. It's also very possible that, in an Jeffery Epstein-esque like fashion, David Geffen has blackmail of Steven Cohen and Kenneth Griffin, and large art purchases are a possible way to pay the extortion that comes with that.
If you actually made it this far to the end, please for the love of my sanity poke as many holes in this conspiracy theory as possible.
prepper
Mask revival?
Shares of mask makers are on watch again as the White House and CDC debate whether they should urge vaccinated Americans to wear masks in more settings. Delta variant infections are spiking across the country, with more than 40,000 new coronavirus cases a day (up from a low of 11,000 in June). The rate of vaccinations is also slowing nationwide, dropping to about 500,000 per day, while hospitalizations have reached levels not seen since the early spring.
Backdrop: The CDC eased its mask guidelines for the fully vaccinated two months ago, saying they didn't need to use them or practice social distancing. But this week, CDC Director Dr. Rochelle Walensky told a Senate hearing that the agency is actively reviewing its mask and public health policies as the virus and pandemic continue to evolve. "A lot has changed since May 13. We now have a variant circulating in this country that at the time was 3% (of new cases) and is now 83% and much more transmissible."
Health officials in California have already recommended or required that residents in 17 counties resume wearing masks indoors, while a new mask mandate has gone into effect for employees in Clark County, Nevada, which houses Las Vegas casinos. New Orleans has also issued an "indoor mask advisory" regardless of vaccination status. According to an Axios-Ipsos poll released Tuesday, 52% of Americans say they are regularly wearing a mask in public, down from 84% in early May.
Mask up your portfolio? While it could be more of a short-term trade, PPE manufacturer Lakeland Industries (NASDAQ:LAKE) surged 7% on Wednesday. Other mask makers were also on the move, including Alpha Pro Tech (NYSE:APT) and Allied Healthcare Products (NASDAQ:AHPI), which climbed 4% and 3%, respectively. "LAKE should benefit as fears of a COVID re-emergence cause sales of protective clothing to rise," writes SA Marketplace Author Ranjit Thomas, saying the stock should "generate a steady amount of revenue even after COVID is defeated." (6 comments) Green for the week
Stocks are continuing to rebound following a retreat on Monday as traders don't appear to see an immediate risk to the economic recovery. U.S. equity futures are all pointing 0.2% higher this morning, with strong corporate earnings prints continuing to help the investing landscape. Coca-Cola (KO) and Johnson & Johnson (JNJ) both logged gains following their results on Wednesday, and we'll hear from other Dow components today, including Dow Inc. (DOW) and Intel (INTC).
Analyst commentary: "We expect a continuation of sloppy trading through the seasonally-weak summer months; however, our base case remains that the primary trend over the next 12 months remains higher," noted Keith Lerner, chief market strategist at Truist. "The S&P 500, which just made a new record high last week, has gone one of the longest periods of the past decade without so much as a 5% pullback [since October]."
Investors may also be taking some comfort in the latest comments on price pressures. "There will be near-term inflation because everything is now trying to be picked back up," President Biden said Wednesday night at a CNN town hall in Cincinnati. "But the vast majority of the experts, including Wall Street believe that it's highly unlikely that it's going to be long-term inflation that's going to get out of hand."
On the economic calendar: The ECB's first policy announcement since raising its inflation target to 2% is due today, with President Christine Lagarde promising "interesting variations and changes." In the U.S., weekly jobless claims are expected to come in at 350,000, a week after falling to the lowest level since March 2020. Senate Republicans also blocked an effort to begin debate on a bipartisan infrastructure deal on Wednesday, but lawmakers expect to near a final agreement by early next week.
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Nord truce
Ending a longstanding dispute between the two allies, the Biden administration has reached an agreement with Berlin that allows for the completion of the Nord Stream 2 natural gas pipeline between Russia and Germany. Previous U.S. administrations opposed the link under the Baltic Sea, feeling it would give the Kremlin more political leverage over transit countries that have carried its gas exports to Europe for the last four decades. In fact, Ukraine said it stands to lose $2B in annual payments from Russia as part of a gas contract that is set to expire in 2024.
Fine print: Since construction of the Gazprom-led (OTCPK:OGZPY) project was almost done when Biden came into office (it should be finished next month), the administration went for a diplomatic agreement instead of sanctions. Under the deal, Berlin has promised to deal with Russia if it threatens European energy security. Germany has also promised support for Ukraine, like investment in green technology infrastructure, though Kiev is still not happy with the agreement, saying it doesn't provide enough protection.
"Should Russia attempt to use energy as a weapon or commit further aggressive acts against Ukraine, Germany will take action at the national level and press for effective measures at the European level, including sanctions to limit Russian export capabilities to Europe in the energy sector," according to a joint statement from the U.S. and Germany. Western partners were also involved in the building of Nord Stream 2, including Royal Dutch Shell (RDS.A, RDS.B), Germany's Uniper (OTC:UNPPY) and BASF (OTCQX:BASFY), Austria's OMV (OTCPK:OMVJF) and France's ENGIE (OTCPK:ENGIY).
Go deeper: Some are pointing to a book called Ally Versus Ally: America, Europe, and the Siberian Pipeline Crisis, which Antony Blinken, now U.S. secretary of state, wrote in 1987. In it he argues for alliance maintenance, rather than adversary containment, after the Reagan administration imposed sanctions on a similar pipeline from Soviet Siberian gas fields to Europe in 1981. Echoes of Nord Stream 1 may also be at play, with Germany's neighbors moving on from their opposition to the pipeline which was completed in 2011. (28 comments)
The ₿ Word
CoinDesk columnist Nic Carter kicked things off at the A-list, 'B Word' event that also featured some in the C-suite crowd. Carter began by explaining the crucial importance of Proof of Work for Bitcoin (BTC-USD), and why Proof of Stake (less energy intensive) is inferior. He also noted that more transactions doesn't necessarily mean more energy expenditure (that's rather dependent on securing the network), which was in direct contrast to Elon Musk, who two months ago helped set off Bitcoin's collapse by claiming transactions use too much energy.
Seeking Alpha contributor Lyn Alden took to the floor to try and debunk "Bitcoin Can Be Displaced Easily" FUD. Bitcoin has three "irreplaceable attributes," said Alden - security, scale, and decentralization. She also took note of the oft-used comparison of Bitcoin to MySpace. Bitcoin, she reminded, hit a $1T market cap 13 years after coming into existence - it's a level of scale and market dominance that MySpace never even sniffed.
Meanwhile, Coin Metrics author Nate Maddrey discussed whether "Bitcoin Ownership is Concentrated." He first explained that all Bitcoin transactions are transparent to anyone who wished to view them, including the addresses of wallets that hold Bitcoin. While yes, the top 10% of addresses hold 99% of supply, "addresses" is the key word. Addresses, said Maddrey is not individuals. An address can represent thousands of individuals (think exchanges like Coinbase (COIN) and institutions). In fact, he says, five of the top 10 largest Bitcoin addresses are exchanges.
Movement: Bitcoin notched a session high of $33K during the event, but has since returned to the $31K level, and has stayed there for most of the night. Don't forget THE talk:
Cathie Wood: "Our focus on disruptive innovation" attracted her to Bitcoin and crypto in general and she offered her thoughts about how Bitcoin fits within the ESG investing landscape. "Bitcoin's limit of 21M coins ever means its primary use right now is store of value," she added. "Purchasing power will go up over time." She also passed on the research to economist Arthur Laffer, who threw up his hands, and said at last, a rules-based monetary system.
Elon Musk: "I might pump, but I don't dump," he declared, while wearing a shirt about Bitcoin being the evolution of money. "I think about money as an information system, and there's an opportunity for something better than ACH and credit card networks." He further noted that he's an owner of Bitcoin through not just Tesla (TSLA), but through SpaceX (SPACE), and he personally owns Bitcoin, Ether (ETH-USD), and Dogecoin (DOGE-USD). Once Musk is convinced more than 50% of Bitcoin mining was based on renewables, Tesla will again accept the crypto for purchases.
Jack Dorsey: "Bitcoin reminds me of the early Internet. If the internet gets a chance to be a native currency, it's Bitcoin because of its resilience, and community driving it." He also has high hopes for the currency. "We have all these monopolies off balance and the individual doesn’t have power and the amount of cost and distraction that comes from our monetary system today is real and it takes away attention from the bigger problems. My hope is that it creates world peace or helps create world peace." (59 comments)
Today's Markets
In Asia, Japan closed. Hong Kong +1.8%. China +0.3%. India +1.2%. In Europe, at midday, London +0.3%. Paris +0.8%. Frankfurt +0.8%. Futures at 6:20, Dow +0.2%. S&P +0.2%. Nasdaq +0.2%. Crude +1% at $71.03. Gold -0.5% at $1795.20. Bitcoin +1.3% at $31845. Ten-year Treasury Yield +1 bps to 1.29%
Today's Economic Calendar
8:30 Jobless Claims 8:30 Chicago Fed National Activity Index 10:00 Existing Home Sales 10:00 Leading Indicators 10:30 EIA Natural Gas Inventory 11:00 Kansas City Fed Mfg Survey 4:30 PM Fed Balance Sheet
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Have you thought about getting into Bitcoin but weren't sure about how it works? Thought it was too confusing to get into? Well you can get started with a free £10 Bitcoin to help you get started on your Bitcoin journey with no obligations at all!
You just need to want to get into Bitcoin, be in the UK, over 18 and have ID! That is it!
https://www.luno.com/en/signup
- Use the website or download the app and register https://www.luno.com/en/signup
- Verify ID
- Enter code BPHWRIGHT in the rewards page
- Get £10 of Bitcoin instantly
I would recommend saving the £10 for future rather than checking the value every few days.
Bitcoin is something that is really good to get into and a free £10 helps you get you on your journey.
If you need more help signing up, there is another step by step guide here: https://medium.com/original-crypto-guy/how-to-set-up-a-basic-bitcoin-wallet-73f46c612a3c
Or feel free to send me a message if you still need help and I will gladly help you!
Once you have joined I think you should learn more by checking out these wonderful FREE events with more info for newbies or not so new people on Bitcoin! You can learn a lot at no cost to you. Check them out now: https://medium.com/original-crypto-guy/upcoming-events-by-jason-deane-aea187d03a10
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Have you thought about getting into Bitcoin but weren't sure about how it works? Thought it was too confusing to get into? Well you can get started with a free £10 Bitcoin to help you get started on your Bitcoin journey with no obligations at all!
You just need to want to get into Bitcoin, be in the UK, over 18 and have ID! That is it!
https://www.luno.com/en/signup
- Use the website or download the app and register https://www.luno.com/en/signup
- Verify ID
- Enter code BPHWRIGHT in the rewards page
- Get £10 of Bitcoin instantly
I would recommend saving the £10 for future rather than checking the value every few days.
Bitcoin is something that is really good to get into and a free £10 helps you get you on your journey.
If you need more help signing up, there is another step by step guide here: https://medium.com/original-crypto-guy/how-to-set-up-a-basic-bitcoin-wallet-73f46c612a3c
Or feel free to send me a message if you still need help and I will gladly help you!
Once you have joined I think you should learn more by checking out these wonderful FREE events with more info for newbies or not so new people on Bitcoin! You can learn a lot at no cost to you. Check them out now: https://medium.com/original-crypto-guy/upcoming-events-by-jason-deane-aea187d03a10
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Luno are giving people in the UK £10 completely free with no deposit needed to people who are new to Bitcoin and want to get into it. Totally free £10 Bitcoin!
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- Use the website or download the app and register https://www.luno.com/en/signup
- Verify ID
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I would recommend saving the £10 for future rather than checking the value every few days.
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If you need more help signing up, there is another step by step guide here: https://medium.com/original-crypto-guy/how-to-set-up-a-basic-bitcoin-wallet-73f46c612a3c
Or feel free to send me a message if you still need help and I will gladly help you!
Once you have joined I think you should learn more by checking out these wonderful FREE events with more info for newbies or not so new people on Bitcoin! You can learn a lot at no cost to you. Check them out now: https://medium.com/original-crypto-guy/upcoming-events-by-jason-deane-aea187d03a10
WOW!! Get £10 FREE Bitcoin instantly from Luno with NO SPEND needed for new customers only looking to get into crypto!! (UK Only)
WOW!! Get £10 FREE Bitcoin instantly from Luno with NO SPEND needed for new customers only looking to get into crypto!! (UK Only)
Luno are giving people in the UK £10 completely free with no deposit needed to people who are new to Bitcoin and want to get into it. Totally free £10 Bitcoin!
Have you thought about getting into Bitcoin but weren't sure about how it works? Thought it was too confusing to get into? Well you can get started with a free £10 Bitcoin to help you get started on your Bitcoin journey with no obligations at all!
You just need to want to get into Bitcoin, be in the UK, over 18 and have ID! That is it!
https://www.luno.com/en/signup
- Use the website or download the app and register https://www.luno.com/en/signup
- Verify ID
- Enter code BPHWRIGHT in the rewards page
- Get £10 of Bitcoin instantly
I would recommend saving the £10 for future rather than checking the value every few days.
Bitcoin is something that is really good to get into and a free £10 helps you get you on your journey.
If you need more help signing up, there is another step by step guide here: https://medium.com/original-crypto-guy/how-to-set-up-a-basic-bitcoin-wallet-73f46c612a3c
Or feel free to send me a message if you still need help and I will gladly help you!
Once you have joined I think you should learn more by checking out these wonderful FREE events with more info for newbies or not so new people on Bitcoin! You can learn a lot at no cost to you. Check them out now: https://medium.com/original-crypto-guy/upcoming-events-by-jason-deane-aea187d03a10
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Set a Bet Amount and click BET HI or BET LO to roll the dice and WIN BTC! Select a Jackpot to win big prizes by rolling 8888!
Get 1 free lottery ticket and 5 reward points for every 0.00000500 BTC that you wager and 1 free golden ticket for every 0.00500000 BTC that you wager! Bet on the latest events against other FreeBitco.in users and win a share of the prize pool if you pick the winner!
Early bets have a higher weight and will get a bigger share of the prize pool!
Get 1 free lottery ticket and 5 reward points for every 0.00000500 BTC that you bet!
Get 1 free golden ticket for every 0.00500000 BTC that you bet!
We also pay you 0.40% referral commissions on all bets made by your referrals!
All bets made here will count towards our $32,500 wagering and referral contest! FreeBitco.in is introducing a Premium Membership program powered by the FunFair (FUN) token!
Receive 1% cashback on your MULTIPLY BTC / BETTING wagers, 16 free Wheel of Fortune spins daily and 25% increase to interest rates by buying and holding FUN tokens in your FreeBitco.in account!
All you need to do is buy FUN tokens and hold them in your FreeBitco.in account to get the benefits. The longer you hold the tokens, the greater the benefits will be!
We also pay you 50% referral commissions on trading fees, paid in BTC, generated by your referrals buying/selling tokens from us! Visit the REFER page to see your token sales stats.
FUN is tradeable on multiple exchanges including Binance, Bitfinex, OkEx, HitBTC, Changelly and Uniswap! A LUCKY WINNER WILL DRIVE HOME A LAMBORGHINI WHEN THIS COUNTDOWN ENDS! fine out all about it in the website when you sign up with this link on the bottom also Your FreeBitco.in account is now also a bitcoin savings wallet!
Receive compounded daily interest on any balance that you hold in your FreeBitco.in account, without doing anything.
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We also pay you 25% referral commissions on the base interest earned by your referrals! and also Participate in our monthly wagering and referral contest with $32,500 in total prizes!
To win the wagering contest with $21,600 in total prizes, you must rank in the top 10 users by wagering volume for the month and to win the referral contest with $10,900 in total prizes, you must rank in the top 10 users by combined wagering volume of your referrals for the month.
The contest will start at the beginning of the month at 00:00 UTC and end on the last day of the month at 23:59 UTC. For the wagering contest, all bets made in MULTIPLY BTC, MULTIPLY BTC jackpots and BETTING will qualify. For the referral contest, all bets that your referrals make in MULTIPLY BTC, MULTIPLY BTC jackpots and BETTING will qualify. The top 10 users with the highest wagering volume for the month will win the wagering contest and the top 10 users with the highest combined wagering volume of their referrals will win the referral contest.
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We pay referral commissions according to the table below.
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VOLT NFT: Volt NFT Token is a Non-Fungible Defi Project Governance Token
The global financial system is changing so fast. The integration of Blockchain technology into Finance has been the best thing that has ever happened in the field of global finance. In contrast to existing traditional financial systems, blockchain integrated finance provides room for transparency, security and global accessibility. Blockchain technology has linked the global economy together, making it a better place and one world for all.
The cryptocurrency Bitcoin is the world's first cryptocurrency to spearhead this mission. So far, the Bitcoin cryptocurrency has proven to be very effective and is gradually accomplishing its mission. On the other hand to make the world a better place for all and liberate the world population from the tyrannical rule of global governments that operate and manipulate finances, several groups of financial experts have invented the Decentralized Finance economy which enables decentralized finance and ensures a frictionless, secure, and secure financial system. and very transparent which is accessible to everyone around the world.
As we can see consistently that new advancements in the blockchain are starting to arise progressively utilization of the blockchain innovation and to increment mass adoption. The advancement of the non-fungible token has been a huge one. Interest has been displayed by the Cryptocurrency Enthusiast.
Because of this turn of events, we've seen a lot of specialist artists, makers and other crypto fans plunged into the NFT environment. Moreso, a commercial centre for NFTs is additionally very critical towards posting your NFTs in light of the fact that it causes them to have simple availability for exchanging. This brings into the centre the significance of the NFT commercial centre inside the area of NFTs. This write up will talk about the idea of NFTs and how VOLT NFT is trying to refine the ecosystem of the NFT and NFT commercial centre.
About Non-Fungible Tokens (NFTs)
Non-Fungible Token (NFTs) is an assortment or collection of digital resources. They are portrayals of craftsmanship in an advanced structure. The worth of NFTs is innate in digital currency and it appears as an imaginative portrayal. Very much like expressions, NFTs likewise have their own worth. NFTs are digital Tokens and can likewise be viewed as a type of digital currency. The interesting part of NFTs is that it doesn't allow for trade or exchange. As such, on the off chance that you execute your NFT for another NFT, what you will have will be totally not quite the same as what you executed. Likewise, NFTs can just have each proprietor in turn; that is, the proprietor has selective possession privileges of any type of NFTs.
Furthermore, the uniqueness of NFTs information makes it a lot simpler to check possession and furthermore in moving tokens among proprietors. There is an undeniable degree of trustworthiness in possession of information. The proprietor or maker of an NFT resource can save some particular data or subtleties on it.
VOLT NFT is a platform where clients can buy, sell and furthermore find restrictive digital resources. The vast majority of the NFT commercial centres we have today are only a platform for executing NFTs alone with no different drives or highlights. Be that as it may, with VOLT NFT, the objective is to make such experience considerably more astonishing and consistent just as overcoming any issues among makers and buyers while giving the best insight. VOLT NFT isn't only a commercial centre for NFTs, however an advanced commercial centre for NFTs and other crypto collectables. The point is to make the best as well as the biggest NFT commercial centre which gives a few NFTs assortments like exchanging cards, craftsmanships, crypto collectables, sports and so on.
Vะพlt NFT Mะฐrkะตt Fะตะฐturะตั
Dะตัะตntrะฐlัzation
Thะต Vะพlt NFT Frะฐmะตwะพrk ัั dะตััgnะตd tะพ ะพัtัmัzะต thะต bะตnะตfัtั (ะฐnd mัnัmัzะต thะต rััkั) ะพf ะพwnัng ะฐnd trะฐdัng dัgัtะฐl ะฐััะตtั. Our ัะพrะต tะตัhnะพlะพgั rะตlัะตั hะตะฐvัlั ะพn blะพัkัhะฐัn, ะฐutะพmะฐtะตd ัmะฐrt ัะพntrะฐัtั.
Blะพัkัhะฐัn Prะพtะพัะพl
Vะพlt uัะตั thะต Ethะตrะตum blะพัkัhะฐัn ะฐnd ัrะพtะพัะพl, wัth ะฐ nะฐtัvะต tะพkะตn ัะฐllะตd VOLTY. Thัั wัll ัhะฐrะต thะต ัะตัurัtั ะฐdvะฐntะฐgะตั ะพf thะต ะตntัrะต Ethะตrะตum nะตtwะพrk, ะฐvะพัdัng ัะพัััblะต ัะพnัะตnัuั ะฐttะฐัkั.
Lะพwะตr Cะพัt Exัะพัurะต
Thะตrะต wัll bะต ัะพmะต ะฐััlััะฐblะต fะตะตั ัuัh ะฐั ะฐััlััะฐtัะพn uัะฐgะต fะตะตั fะพr trะฐdะต ะตxะตัutัะพn, NFT ัrะตะฐtัะพn ะฐnd lััtัng, NFT ะฐuัtัะพnั, ะฐnd nะตtwะพrk fะตะตั fะพr VOLTY trะฐnัfะตrั wัll ะฐััlั.
Gะพvะตrnะฐnัะต ัn Chะฐัn
NFT Mะฐrkะตtัlะฐัะต Vะพlt Mะฐnะฐgะตmะตnt gะพvะตrnะฐnัะต ะตnะฐblะตั ัtะฐkะตhะพldะตrั tะพ ัะตะฐmlะตััlั mะพdัfั bะฐััั ัrะพtะพัะพlั ะฐnd ัhะฐngะต ัrัtััะฐl frะฐmะตwะพrk ัะฐrะฐmะตtะตrั tะพ mะตะตt ัhะฐngัng ะตnvัrะพnmะตntะฐl ะฐnd ัะพััะตtะฐl nะตะตdั
Clัะตnt Pะฐrtnะตrัhัั
Thะต Vะพlt NFT Mะฐrkะตtัlะฐัะต ัrะพvัdะตั ะฐ UNIQUE ัlะฐtfะพrm fะพr uัะตrั whะพ wะฐnt tะพ brัng thะตัr dัgัtะฐl ัrะพduัtั tะพ thะต NFT mะฐrkะตtัlะฐัะต whะตrะต thะตั ัะฐn ัะตll thะตัr ะพwn ัmะฐgะตั ะพr gะพะพdั ัn ะฐ mะฐrkะตtัlะฐัะต wัth ะฐn ะตัtะฐblััhะตd buััnะตัั mะพdะตl.
Inัะตntัvะตั ะฐnd Rะตwะฐrdั
Uัะตr Bะฐัะต Inัะตntัvะตั ะฐnd Rะตwะฐrdั — Cะพmmunัtั ัั ะฐlmะพัt ะตvะตrัthัng, ะฐnd thะต Vะพlt NFT Mะฐrkะตtัlะฐัะต wัll fะพัuั ะตntัrะตlั ะพn rะตwะฐrdัng ะตะฐrlั ะฐdะพัtะตrั fะพr thะตัr vะฐluะฐblะต ัะพntrัbutัะพnั thrะพugh ะฐ vะฐrัะตtั ะพf ัnัะตntัvะต ะฐnd rะตwะฐrd ััhะตmะตั dะตััgnะตd tะพ ัuััะพrt ัuััะตััful ัrะตะฐtะพrั, ัะตllะตrั ะฐnd buัะตrั. In ะฐddัtัะพn tะพ ัnัะตntัvะตั fะพr uัะต, thะต Vะพlt NFT Mะฐrkะตtัlะฐัะต uัะตั ะฐ Prะพะพf ะพf Stะฐkะต mะพdะตl thะฐt ัะฐn ะพffะตr ัtั ะพwn rะตwะฐrdั fะพr bะตัng ะฐ nะตtwะพrk vะฐlัdะฐtะพr.
Hะพw dะพะตั ัt wะพrk?
Anัะพnะต ัะฐn rะตgััtะตr ะพn thะต Vะพlt NFT ัlะฐtfะพrm, ัะพu ัะฐn buั & ัะตll dัgัtะฐl gะพะพdั frะพm thะต ัlะฐtfะพrm. Buั ัะพur NFT ะพr ัะพur fะฐvะพrัtะต ัะตlะตbrัtั, ะฐrtััt ะพr ัะตrัะพnะฐlัtั. All trะฐnัะฐัtัะพnั ะพn thะต Vะพlt NFT mะฐrkะตt ะฐrะต ัะฐrrัะตd ะพut ัn VOLTY tะพkะตnั.
Yะพu wัll ัrะตะฐtะต ัะพur ะพwn dะตัะตntrะฐlัzะตd wะฐllะตt thะฐt ะพnlั ัะพu ัะฐn ะฐััะตัั. Onะต ะฐััะพunt tะพ mะฐnะฐgะต ะฐll ัะพur dัgัtะฐl ัtะตmั, ะฐััะตัััblะต frะพm ะฐnั dะตvััะต, ะฐnัwhะตrะต, ะฐnัtัmะต Sะตัurัtั: Prะพtะตัtัng ัะพur dัgัtะฐl ัtะตmั ัั ะพur tะพั ัrัะพrัtั. Nะพt ะพnlั dะพะตั ัะตัurัtั ะฐััlั ะฐัrะพัั ะฐll lะตvะตlั ะพf ะพur ัlะฐtfะพrm, but ะพur gะพvะตrnะฐnัะต ัtruัturะต ะฐlัะพ ัะตrtัfัะตั ะตvะตrั mะฐkะตr ะฐnd ัะตllะตr.
Mะฐrkะตt Mะตmbะตr
Intะตrะฐัtัng wัth thะต mะฐrkะตt ะพnlั rะตquัrะตั ะฐ Ethะตrะตum ัะพmัะฐtัblะต ัrััtะพ wะฐllะตt, ะฐ brะพwัะตr ะฐnd thะต ัlััk ะพf ะฐ buttะพn. Thะตrะต ะฐrะต thrะตะต mะฐัn wะฐัั fะพr uัะตrั tะพ ะตngะฐgะต ัn thะต Vะพlt NFT Mะฐrkะตtัlะฐัะต.
NFT Mะฐkะตr
Tะพ ัrะพmะพtะต ะฐn ะฐัtัvะต ะฐnd vัbrะฐnt mะฐrkะตtัlะฐัะต, thะต Vะพlt NFT Mะฐrkะตtัlะฐัะต hะฐั ะฐn ะตnhะฐnัะตd NFT buัldะตr thะฐt ะฐllะพwั ัuัtะพmะตrั ะฐnd ัะพmัะฐnัะตั tะพ ะตffัััะตntlั ะฐnd ััmัlั ัrัnt thะตัr ัะพntะตnt, ัdะตะฐั, ัะตrvััะตั ะฐnd ัrะพduัtั ัntะพ NFT tะพkะตnั fะพr lััtัng ะพn thะต Vะพlt NFT Mะฐrkะตtัlะฐัะต.
Sะตllะตr
Anัะพnะต wัth ะฐn NFT ัurัhะฐัะตd ะพn thะต Vะพlt NFT Mะฐrkะตtัlะฐัะต ัะฐn brัng thะต tะพkะตn tะพ thะต Vะพlt Mะฐrkะตtัlะฐัะต bั ัะพnnะตัtัng ะฐ ัrััtะพ wะฐllะตt ะฐnd buััng ัt ะฐt thะต dะตััrะตd ัrััะต. Aั ะฐ rะตัult, fะพr rะฐrะต ัtะตmั, hัghlั ัะพught ะฐftะตr ัtะตmั, ะพr ัtะตmั thะฐt rะตquัrะต fัndัng ะฐ fะฐัr ัrััะต, ัะตllะตrั ัะฐn ัrะตะฐtะต ะฐuัtัะพnั thะฐt wัll bะต hะฐndlะตd ะฐutะพmะฐtััะฐllั ะพn thะต Vะพlt NFT blะพัkัhะฐัn ะฐััะพrdัng tะพ thะตัr ัnัtัะฐl ัrัtะตrัะฐ.
Buัะตr
Buัะตrั ัะฐn ัะตะฐrัh ะฐnd ัurัhะฐัะต ัtะตmั wัth VOLTY tะพkะตnั. Vะพlt NFT Mะฐrkะตtัlะฐัะต wัll ัuััะพrt ัtั VOLTY tะพkะตnั ะฐั ะตxัhะฐngะต ัะพuntะตr ัurrะตnัั.
VOLTY Eัะพัััtะตm
Thะต SOCIAL NFT Mะฐrkะตtัlะฐัะต ะตัะพัััtะตm ัะพmbัnะตั VOLTY utัlัtัะตั ะฐั nะฐtัvะต fะพr ัrะพtะพัะพl tะพkะตnั ะฐnd ะฐััlััะฐtัะพn tะพkะตnั.
Whะฐt ะฐrะต VOLTY tะพkะตnั???
All trะฐnัะฐัtัะพnั ะพn thะต Vะพlt NFT Mะฐrkะตtัlะฐัะต ะฐrะต ัะฐrrัะตd ะพut uััng thะต ัlะฐtfะพrm'ั VOLTY tะพkะตn whััh ัั uัะตd ะฐั ะฐ utัlัtั tะพkะตn ะพn thะต ัlะฐtfะพrm. Thะต Vะพlt NFT Mะฐrkะตtัlะฐัะต ะตัะพัััtะตm ัะพmbัnะตั VOLTY utัlัtัะตั ะฐั nะฐtัvะต fะพr ัrะพtะพัะพl tะพkะตnั ะฐnd ะฐััlััะฐtัะพn tะพkะตnั
Whะฐt ัั Vะพlt NFT Mะฐrkะตt?
Vะพlt NFT ัั thะต fัrัt NFT mะฐrkะตtัlะฐัะต thะฐt ะฐllะพwั uัะตrั tะพ ัะตll ะฐnd buั ัะพllะตัtัblะตั ะฐnd lะตvะตrะฐgะต NFTั ะพn thะต Multั-ัhะฐัn ัuััะพrt. Vะพlt NFT Mะฐrkะตtัlะฐัะต uัะตrั ัะฐn ะฐdd ะพnะต ะพr mะพrะต ัtะตmั ัn thะต mะฐrkะตtัlะฐัะต fะพr ัะฐlะต. Uัะตrั whะพ wััh tะพ ัurัhะฐัะต ะพn thะต mะฐrkะตtัlะฐัะต muัt ะฐlัะพ bะต rะตgััtะตrะตd wัth thะต Vะพlt NFT Mะฐrkะตtัlะฐัะต.
Nะตtwะพrk Fะตะตั — VOLTY ัั thะต ัะพrะต bะฐัะต dัgัtะฐl ัurrะตnัั fะพr ัะฐััng trะฐnัะฐัtัะพn fะตะตั.
Gะพvะตrnะฐnัะต —Thะต VOLTY ัั ะพftะตn uัะตd tะพ vะพtะต ะพn gะพvะตrnะฐnัะต ัะพlััั-mะฐkัng rะตfะตrะตndumั.
Tะพkะตn hะพldะตrั -- VOLTY ัะฐn ัะฐrtััััะฐtะต ัn thะต ัะพlััั-mะฐkัng ัrะพัะตัั ะพf thะต Vะพlt NFT ะตัะพัััtะตm bั vะพtัng wัth VOLTY . Thะต mะพrะต VOLTY ะฐ hะพldะตr hะฐั, thะต mะพrะต vะพtัng ัะพwะตr thะตั hะฐvะต
Pะฐัmะตntั — Thะต mะฐัn ะตxัhะฐngะตะฐblะต ัะพuntะตr dัgัtะฐl ัurrะตnัั ัั VOLTY fะพr ะฐll trะฐdะตั ะพn Mะฐrkะตtัlะฐัะต.
Fะตะตั — All fะตะตั fะพr NFT Mะฐrkะตtัlะฐัะต ะฐััlััะฐtัะพnั, ัnัludัng rะตgััtrะฐtัะพn fะตะตั ะฐrะต ัะฐัd wัth VOLTY .
Prัzะตั — Prัzะตั dััtrัbutะตd ะฐnd ัะพntrัbutะตd fะพr ะฐll uัะตั wัll bะต dะตnะพmัnะฐtะตd ัn VOLTY .
Mะตmbะตrัhัั — In ะฐddัtัะพn tะพ ะตngะฐgัng ัn gะพvะตrnะฐnัะต, VOLTY tะพkะตn hะพldะตrั wัll ะตnัะพั ะพthะตr rัghtั ะฐnd ัrะพtะตัtัะพnั ัn thะต ะตัะพัััtะตm, whััh nะพn-hะพldะตrั hะฐvะต ะฐััะตัั tะพ. Fะพr ะตxะฐmัlะต, VOLTY hะพldะตrั wัll ัะฐั rะตduัะตd ัะตrvััะต fะตะตั, ะฐnd ัnัrะตะฐัะตd lััtัng ะตxัะพัurะต.
VOLT IDO: 10%
VOLT DAO: 35%
REWARDS: 20%
STAKING: 10%
DEVELOPMENT: 10%
TEAM: 15% which will be locked up for 2 years (24 months)
Token Name: VOLTNFT
Network : Ethereum
Address : 0xF81a676e51f1Cd18d78abdb7bf3467CA2bF97F7d
Symbol : Volty
Decimal : 18
Total Supply: 20,000,000 VOLTY
conclusion
NFTs have become very popular with cryptocurrency users & companies because of the way they are revolutionizing the game & collection space due to the daunting nature of NFT & the high demand for them from gamers collecting & investing people here are often ready to pay a lot of money from them. Volt NFT's goal is to eventually Power transactions to software based systems contributed by users, any user locally anywhere in the world can use volts as a secure exchange of values, platform provides an essay-wide service ecosystem to use an interface that connects communities while enabling full transparency & collection traceable. One application of blockchain technology is the emergence of non-fungible tokens (NFT). A non-fungible token (NFT) is like a collection of digital data stored on the blockchain in the form of tradable tokens. Non-exchangeable tokens can be items of art, sports and more that are treated as tradable commodities that can be purchased with proof of ownership provided to their original owners.
For more information about this project you can visit the following links:
Website: https://www.voltnft.com
Discord:https://discord.gg/BxxKMbeyVM
Instagram:https://www.instagram.com/VOLT_NFT
Reddit:https://www.reddit.com/r/VOLT_NFT
Github: https://github.com/voltnft
Twitter:https://twitter.com/VOLT_NFT
Author Bitcointalk username : arsenalx420
Bitcointalk Profile URL : https://bitcointalk.org/index.php?action=profile;u=1767745
Cardano Rumor Rundown July 22, 2021
Hey Everyone!
Let's go...
Newly covered today:
- Cardano didn’t come up in the Cathie Wood, Jack Dorsey, and Elon Musk panel discussion at “The B Word” event. But, given how Elon repeatedly shot down maximalist explanations for the shortcomings of proof-of-work chains in energy consumption and throughput, the whole thing ended up sounding like a long-form pitch for proof-of-stake and Cardano. Seriously, you should check it out. https://www.thebword.org/c/track-2-Bitcoin-As-A-Tool-For-Economic-Empowerment
- Emurgo is hiring for community management/product support! https://twitter.com/emurgo_io/status/1417870195952168964
- Gary Gensler, SEC Chair, indicates that crypto assets providing synthetic exposure to securities will be regulated as securities. This should be scary news for any Cardano projects that are aimed at exactly that! https://www.sec.gov/news/speech/gensler-remarks-aba-derivatives-futures-law-committee-virtual-mid-year-program-072121
Previously Covered but still interesting:
- Reuters reports on an EU digital identity wallet project. https://www.reuters.com/business/finance/eu-step-up-digital-push-with-digital-identity-wallet-2021-06-01/?taid=60b6e171efd84f0001b64ae1&utm_campaign=trueAnthem:+Trending+Content&utm_medium=trueAnthem&utm_source=twitter
- Vitalik is saying it’s highly unlikely we see ETH 2.0 before late 2022. I’m guessing that means mid 2023 which will be after two years of Cardano slaughtering the entire ETH user base. Things are looking so bad that Vitalik says he doesn’t even like using the ETH 2.0 label anymore since he knows the changes will be more incremental. This is what early capitulation sounds like guys. https://cointelegraph.com/news/even-vitalik-buterin-is-surprised-at-just-how-long-eth2-is-taking
- Cardano-Nervos cross-chain bridge to be built. This would be at least the second cross-chain bridge after the Cardano-AGI bridge. https://www.coindesk.com/cardano-nervos-force-bridge-network-first
- And….still! Kings of the github! https://twitter.com/CryptoDiffer/status/1400744567956180993
- Binance has 63 stakepools charging 6%. Please stop paying so much for the right to stake your ADA. You don’t have to pay that much. You have a huge number of better options. You are literally giving away your ADA rewards to a large corporation. It’s easy: just download the Yoroi Chrome extension, send your ADA there, and pick from the 2k+ available stakepools right inside Yoroi. https://twitter.com/BraveHeartStak3/status/1401204563189940231 https://adapools.org/groups/binance-20 https://play.google.com/store/apps/details?id=com.emurgo&hl=en_US&gl=US
- Here’s a good Emurgo blog article on the use of Emurgo Trace in the Oil and gas industry. https://twitter.com/emurgo_io/status/1402339278097502210
- IOHK gives us a closer look at everything being upgraded for Alonzo. https://iohk.io/en/blog/posts/2021/06/08/a-close-look-at-the-software-running-cardano/
- We’re currently at 71.52% of ADA staked. This is a pretty incredible ratio and shows the strength of the Cardano community. https://twitter.com/CardanoPoolPeek/status/1402378400803794950
- El Salvador passes the statute to make Bitcoin legal tender in the country. https://twitter.com/nayibbukele/status/1402827595339681794
- Cardano gets more positive coverage on the Nasdaq website with a second article following the one from April 7 earlier this year. https://www.nasdaq.com/articles/be-part-of-a-historic-crypto-moment-with-cardano-2021-06-08
- Prof. Aggelos Kiayias releases an article on a tri-coin system called Stablefees that could fix the problem of appreciating transaction fees in crypto. https://iohk.io/en/blog/posts/2021/06/10/stablefees-and-the-decentralized-reserve-system/
- Minswap gives us the dev perspective on why Cardano’s Plutus is such an improvement over Ethereum’s Solidity. https://twitter.com/MinswapDEX/status/1403411522110427137
- Here’s a great ETH vs. Cardano DeFi project comparison infographic. https://twitter.com/Coin98Analytics/status/1403397242707320835
- Zach Guzman and Mike Novogratz get an opportunity to prove once again how extremely threatened they are by the fact that they can’t frontrun Cardano at this point. https://twitter.com/IOHK_Charles/status/1404100510525841408
- John O’Connor appeared on the Disrupt Network Podcast. bit.ly/3znqyB7
- President of Tanzania calls on the central bank to prepare for the adoption of cryptocurrencies and blockchain technology. I wonder what crypto ecosystem already has experience working with an African government on a big crypto project and has partnered with a mobile company that is already bringing connectivity to rural Tanzania? https://twitter.com/DocumentingBTC/status/1404126444863766533
- With exploits like this one being all too common in the legacy smart contract networks, we’re not even going to have sell the Cardano use case for DeFi. The competitor networks have already made the case that something better must be on the way. https://twitter.com/zapper_fi/status/1404429179794362369
- World Mobile CEO tweets out a tantalizing response to the Tanzanian President’s call for her nation’s central bank to prepare for crypto. https://twitter.com/MrTelecoms/status/1404375153191141377
- If you are new to Cardano and you would like to get a handle on the terminology involved in the ecosystem, you may want to check out these Cardano flashcards produced by Coconut Pool. https://twitter.com/coconut_pool/status/1403442954434269185
- While renewable energy is certainly a wonderful thing, there may be a problem with your technology when your path to compete on clean energy consumption involves you talking about harnessing the power of a whole series of volcanoes. Maybe just use fewer volcano’s and more proof-of-stake? https://twitter.com/_eLaPs_/status/1404125569093029889 https://twitter.com/gladstein/status/1402718041557725184
- The Charles/Lex Fridman podcast has dropped. This is a big deal. This is a fairly mainstream podcast with over 1 million subscribers. https://youtu.be/FKh8hjJNhWc
- The bank of England is getting very serious about how it “may wish to limit migration” of money from the legacy system to stablecoins. Wow. Just another example of why it’s such an asset (no pun intended) that Cardano is prepared for regulation. https://twitter.com/CaitlinLong_/status/1405712468823842816
- Check out the newly “pimped up” Cardano documentation. https://twitter.com/theSavaSavic/status/1405526615585480730 https://docs.cardano.org/
- Runtime Verification (architects of K Framework which powers Cardano’s IELE & KEVM) raised $5.3MM in a round that included Cardano’s C Fund. https://runtimeverification.com/blog/runtime-verification-raises-5-3-million-to-advance-blockchain-security https://twitter.com/RosuGrigore/status/1405917218035097600
- It’s a good sign that the top two crypto communities are spending so much time talking negatively about Cardano. You only focus your hatred on that which is most threatening. I’m glad to see we’re the biggest threat on their radar. https://twitter.com/nic__carter/status/1405194146063736840
- We are crushing all the competitors in terms of assets staked! https://twitter.com/CryptoDiffer/status/1405854686209622018
- All 345,501 of the people who have watched the Lex Fridman/Charles episode as of writing are realizing that Cardano could be the first project to put voting on the blockchain in a U.S. state. https://www.atalaprism.io/app
- It looks like the second biggest ETH stakepool or it's custody provider has lost it’s users private keys to $75MM in ETH. Cardano doesn’t have this problem. We get to keep custody of our crypto because we found a better way than slashing. https://stakehound.com/blog-post/fireblocks-eth-2-key-management-incident/ https://twitter.com/JamesSpediacci/status/1407465311180255236
- Draft table of contents for Mastering Cardano has been revealed. https://twitter.com/IOHK_Charles/status/1407165366355124225
- COTI (a project with very close ties to Cardano) is coming to Ledger. https://medium.com/cotinetwork/coti-native-is-coming-to-ledger-c56b04df1253
- The June Cardano 360 is currently available on Youtube. https://youtu.be/al5m14299ww
- We saw segments on various newer partner entities like Nervos, Orion Protocol, and Revuto. Nervos is a UTXO proof-of-work blockchain which is building a cross-chain bridge with Cardano so that you can use your ADA on Nervos dApps and vice versa. Interoperability is a big theme for Nervos and they plan to have a working testnet within a month. Orion Protocol is building a terminal that will allow for decentralized non-custodial trading across centralized and decentralized exchanges. They say this would not require you to KYC or even have an account with any of these exchanges. Revuto is an online subscription management service that recently completed a $10MM token sale on Cardano.
- It was also revealed that Wolfram Labs, COTI, and IOHK have a three-way partnership (a mรฉnage ร tech) to build an NFT auction site. The people from Wolfram were talking about very interesting things including live minting during streaming events and automated upload to IPFS. COTI will be building out auction and bidding mechanisms in ADAPay.
- Professor Aggelos Kiayias gave us an update on research including that Ouroboros Chronos and Hydra papers have both been accepted into conferences/journals. Chronos will provide Cardano with a global concept of time that doesn’t rely on any outside timekeeper. Prof. Kiayias also pointed out that Hydra is distinguishable from other layer two protocols in that the scripting language is identical to that of the base layer in Cardano such that any dApp that can run on Cardano will run on the Hydra L2. This is a huge plus and superior to many other layer two solutions in other ecosystems where the base layer dApps will not run on layer two. Finally, the Mithril paper has been submitted for peer review. It will provide Cardano light wallets with Succinct Non-interactive Arguments of Knowledge that will give us the best of both worlds: no delays for syncing as in full node wallets while still preserving trustlessness.
- Finally, the Goguen Summit will be in late September. Sign up now at summit.cardano.org.
- The Fed is once again STRONGLY signalling to us that they are going to regulate stablecoins. The Fed is also specifically calling out Tether for the first time. You need to be thinking about how stablecoin regulation might affect your favorite Cardano DeFi or other project. https://twitter.com/CaitlinLong_/status/1408500265397985282 https://twitter.com/CaitlinLong_/status/1408572624125534212
- People are starting to realize that the Stakehound private key loss in ETH may attract unwanted regulatory attention to Ethereum 2.0 while this problem could never have occurred in Cardano. Also, only a few days later another ETH stakepool (this time SharedStake...the sixth biggest ETH Stakepool) allegedly experiences a rugpull that some are valuing at over $30MM. This is another problem that could not happen in Cardano staking. It feels like we stepped into the ring, they rang the bell, and ETH just started punching itself in the head. Eventually it’s going to KO itself. https://twitter.com/Madror7/status/1408505144984051716 https://twitter.com/JamesSpediacci/status/1407761823143645189 https://twitter.com/MeiTrades/status/1408117430656905219 https://sharedstake.medium.com/the-sharedstake-story-by-kairos-44d37aa7837a
- Here’s another great Cardano data site. This one is from the Cardano Fans stakepool. https://datastudio.google.com/u/0/reporting/3136c55b-635e-4f46-8e4b-b8ab54f2d460/page/r2LQC
- John O’Connor of IOHK points out that France still controls the monetary policy of 14 countries in Africa. There is definitely a built in market on the continent for a project that delivers monetary sovereignty to the people. https://twitter.com/jjtoconnor/status/1408978882129272832
- Here’s a great new interview with the CEO of World Mobile from Cardano Chats. https://youtu.be/w0Z2RP6a9HE
- New article from the Cardano Foundation on Governance. https://forum.cardano.org/t/blockchain-governance-what-it-is-and-why-it-matters/65493
- Sebastien explains some Alonzo HFC event changes. https://twitter.com/SebastienGllmt/status/1409485560012414978
- IOG Research update from Prof. Aggelos Kiayias. Really interesting bit right at the beginning on the history of cryptography as a field of study. https://www.youtube.com/watch?v=7UAL_6f7PFw
- Sebastien of dcSpark submits a Cardano Improvement Proposal to allow wallets to implement collateral. https://twitter.com/SebastienGllmt/status/1409910858117877763
- New Plutus Pioneers Class starting July 1!
- Charles says it looks like we will hit Alonzo white on Monday. https://twitter.com/IOHK_Charles/status/1410279529021648896
- Coti update from Shahaf Bar-Geffen. https://twitter.com/COTInetwork/status/1410644013863124992
- The Mithril paper (allows for trustless light wallets) is now available for your reading pleasure. https://iohk.io/en/research/library/papers/mithrilstake-based-threshold-multisignatures/
- The Ouroboros Chronos paper (allows for the blockchain to be its own timekeeper) is also now available. https://iohk.io/en/research/library/papers/ouroboros-chronospermissionless-clock-synchronization-via-proof-of-stake/
- Cardano is now a small part of Grayscale’s Digital Large Cap Fund. They actually sold off current holdings in other coins to buy ADA. This is big for institutional adoption! https://twitter.com/Grayscale/status/1410945118228692994
- Catalyst Fund 4 results are here. https://adapulse.io/fund-4-results-are-here/
- Robert Kornacki of dcSpark releases an article on why every Cardano dApp will use NFTs. The article contains some very interesting discussion on smart contracts in the EUTXO context including language instructing that “UTXOs have smart contracts attached to them and not the other way around” and “[...]the simplest way to think about it is that when a UTXO is created it has the option to have a smart contract attached to it.” https://medium.com/dcspark/every-eutxo-dapp-will-use-nfts-and-heres-why-fd87e6a8c9a6
- A very interesting medium article on the concurrency problem in eUTxO blockchains such as Cardano. (Article by Occam Fi....thanks to Muggy Pool for sending it my way). https://medium.com/occam-finance/the-occam-fi-technical-series-on-concurrency-cd5bee0b850c
- The concurrency issue in plutus smart contracts has also been recently commented on by Lars and Sebastien. https://twitter.com/LarsBrunjes/status/1390331642103877633 https://twitter.com/LarsBrunjes/status/1403761666383306757 https://twitter.com/SebastienGllmt/status/1410983827481108480
- The Cardano Foundation has released a video on its short and long-term strategies to get to one billion users by 2026. https://twitter.com/CardanoStiftung/status/1412137365318127626
- Ben O’Hanlon sets the record straight on developer interest in Cardano. https://twitter.com/benohanlon/status/1412136150404370432
- As always, Cardano is straight killing the competition in terms of assets staked. https://twitter.com/StakingRewards/status/1412389781003194395
- Between Cohort 1 and Cohort 2 of the Plutus Pioneers program there have been 4,300 potential future Cardano developers involved. https://twitter.com/InputOutputHK/status/1412465643245424649
- Here’s an interesting chart purporting to show the dates on which various Cardano DeFi projects might have finished products. https://twitter.com/Cryptokev84/status/1412343821757730820/photo/2
- IOG says they have started onboarding new SPOs and developers to Alonzo White this week. https://twitter.com/InputOutputHK/status/1412847798274478084
- Charles also confirms that Alonzo White may start Friday but probably Monday due to a natural (and warranted) desire to avoid executing a rollout at the start of a weekend. https://youtu.be/yd1eg4QopV8
- Daedalus 4.2.0 now adds Ledger & Trezor Catalyst Registration. https://twitter.com/InputOutputHK/status/1413176419186774018
- Yoroi 4.5.7 extension release now adds Ledger Catalyst Registration. https://twitter.com/YoroiWallet/status/1413128256836997120
- Here’s the voter registration schedule for Catalyst Fund 5! Get yourself registered now even if you’re in cold storage on a hardware wallet! https://iohk.zendesk.com/hc/en-us/articles/900006490763-Project-Catalyst-FAQ
- Cardano Gainz Calculator now has a graph showing 10 year growth. https://twitter.com/lesquive1/status/1413249312465866757
- Emurgo has released a guide on how to register for Catalyst voting with your Ledger Hardware Wallet. https://github.com/Emurgo/yoroi-mobile/blob/develop/catalyst5-instruction.md
- Great new interview with World Mobile’s Mickey Watkins, Charles, and John O’Connor. https://youtu.be/WSSpI8Rtif0
- This infographic shows just how big the Cardano DeFi space is getting. https://twitter.com/BPE_Crypto/status/1413973912396963840
- This infographic shows just how much DeFi volume is out there for Cardano to steal. https://twitter.com/Coin98Analytics/status/1413514041029394439/photo/1
- There is a new stakepool explorer available. https://www.cardanoworld.io/
- Very interesting timing with a) Grayscale Buying $50MM ETCG, b) Grayscale adding ADA, and c) Charles joining the ETC Cooperative board given that two of the members of the ETC Cooperative board seem to come from Grayscale and DCG. Maybe the world is starting to understand just what Charles and IOHK have been able to accomplish over the last few years. https://twitter.com/ETCCooperative/status/1410439775950082051 https://twitter.com/ETCCooperative/status/1413328106568421377 https://twitter.com/Grayscale/status/1410945118228692994
- There is a new Cardano wallet being introduced by u/berry_ales from the Berry Pool. I have no idea if it will be good or bad at protecting your ADA. Just reporting that it exists. https://twitter.com/berry_ales/status/1414548062207361025
- There is currently a lawsuit challenging the notion that staking rewards should be taxed as income. The plaintiff argues that newly created property isn’t taxed as income and that this should also apply to staking rewards. A win here would be very nice for Cardano delegators. https://cointelegraph.com/news/crypto-staking-rewards-and-their-unfair-taxation-in-the-us
- The Cardano Foundation’s Cardano Developer Portal is now up and running. https://twitter.com/CardanoStiftung/status/1414640913612255234
- Prime Minister Abiy Ahmed’s party has won re-election in a landslide election. https://www.bbc.com/news/world-africa-57791868
- Avanti Bank of Wyoming files comments with the Federal Reserve on their new guidelines that could massively impact how the traditional banking system interacts with cryptocurrencies like Cardano. Given what role ADA is likely to play in the future of crypto financial transactions, this is extremely relevant for ADA holders. https://avantibank.com/press/avanti-submits-comments-to-federal-reserve https://twitter.com/CaitlinLong_/status/1414783323193364482
- Cardano is still destroying everyone in terms of value staked! https://twitter.com/StakingRewards/status/1414895205384327168
- The Cardano ecosystem maps keep getting bigger and more complicated. https://poolg.de/Eco/CardanoEcosystemMap.html
- In news that could have significant repercussions for many stablecoin reliant Cardano DeFi projects, Fed Chair Jerome Powell gave some hard signals that they will regulate stablecoins in House Committee testimony. He revealed that the Fed will issue its long-awated paper on stablecoins, CBDCs, and other digital assets in September. Powell also went as far as to say "You wouldn't need stable coins you wouldn't need cryptocurrencies if you had a digital US currency, I think that's one of the stronger arguments in its favor." https://twitter.com/Nate_DiCamillo/status/1415349008034418691
- We experienced a successful fork to the Alonzo White testnet! https://twitter.com/InputOutputHK/status/1415399456841863177
- Very serious accusations are laid out against the Meld project. https://twitter.com/Bobme808/status/1415283648438358016
- The European Central Bank drops news of “a project to prepare for possibly issuing a digital euro.” A digital Euro is coming and regulation of private fiat-pegged stablecoins is coming with it. https://twitter.com/ecb/status/1415273625385644036
- IOHK releases a paper on a crypto-backed algorithmic stablecoin. https://twitter.com/IOHK_Charles/status/1415531260470972423
- A crypto media personality recently uncovered links between the Priviledge EU Project, Horizon Europe Grant Agreement 780477, and Cardano. https://twitter.com/BreakingADA/status/1415653936703295488
- Always the GitHub activity champs! https://twitter.com/ProofofGitHub/status/1416065097794002946
- We are now seeing the advent of a so-called “Fair Initial Stakepool Offering”. https://twitter.com/MinswapDEX/status/1416110973690122240
- The weekly development update is out. https://roadmap.cardano.org/en/status-updates/update/2021-07-16/
- Janet Yellen, Secretary of the Treasury, is calling a meeting of the President’s Working Group on Financial Markets to discuss stablecoins on Monday. Prepare for regulation. https://home.treasury.gov/news/press-releases/jy0276
- Coindesk really hates us. Now they are writing articles about Cardano and using words like “crypto-colonialism”. https://www.coindesk.com/the-headache-of-crypto-colonialism
- Liqwid says it is on target to be live on day 1 after the Alonzo hardfork combinator event. https://twitter.com/liqwidfinance/status/1416363542975074305
- According to maximalists you’re apparently not allowed to be busy with your company authoring papers if you’re in Cardano. https://twitter.com/woonomic/status/1415761569082789890
- There is actually a chart showing where all the Meld ISPO delegators came from now. https://twitter.com/stakenoble/status/1416189846054387712
- The IOHK mid-month development update for July is out and available for viewing. https://youtu.be/U9K-8jILGcg
- Apparently “unsigned Phalices” are a thing in the Cardano ecosystem now. https://twitter.com/unsigned_algo/status/1416909454100992000
- The El Faro article reporting meetings between Cardano, Whizgrid of Cyprus, and the brothers of President Bukele of El Salvador definitely contain some extremely interesting details related to a possible Salvadorean national stablecoin by the end of the year and a possible digitization and blockchain storage of a wide range of government related documents next year. This could be huge!!!!!! https://elfaro.net/en/202107/el_salvador/25611/Bukele-Plans-to-Launch-a-National-Cryptocurrency-This-Year.htm
- Treasury Secretary Janet Yellen told regulators in the Presidents Working Group on Financial Markets that they must move quickly to regulate stablecoins. So, a Salvadorean market for stablecoins might be good for Cardano. https://www.reuters.com/technology/yellen-says-us-must-move-quickly-establish-stablecoin-rule-framework-2021-07-19/
- Sebastien of dcSpark was recently on Cardano Live to discuss Alonzo. https://youtu.be/lejoT_odbOY
- Notable news for upcoming Cardano DeFi projects. There may be slightly less competition in the “get a return on your crypto assets” game very soon. The New Jersey AG’s office has delivered a cease and desist letter to BlockFi. The AG’s press release cited BlockFi’s interest bearing deposit accounts as unregistered securities and also mentioned the lack of FDIC or SPIC insurance for it’s depositors. This leaves some lingering questions for Cardano DeFi projects that might be planning to accept deposits or other transfers of value and offering a return of sorts. You could argue that these projects are decentralized where BlockFi was not. But, the AG’s press release seems to cite decentralization as one of the risks of DeFi projects. Also, as a practical matter, there is a question whether decentralization will be a good shield from regulators since many of these projects have companies and real humans with faces and names behind them unlike a truly anonymous founder such as Satoshi Nakamoto. https://www.njoag.gov/new-jersey-bureau-of-securities-orders-cryptocurrency-company-blockfi-to-stop-offering-interest-bearing-accounts/ https://twitter.com/BlockFiZac/status/1417316834244796416
- EU is planning to introduce regulations on anonymous crypto wallets. This is a big deal. But, Cardano is probably more prepared than any with its identity solutions that could be sued for KYC/AML. https://twitter.com/Wiiinnie/status/1417575921565978628
~Army of Spies
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