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Throne (THN) founded by Kanye West, Jay-Z, Management
Throne (THN) is an NFT ecosystem led by a collective of blockchain engineers and an accomplished team from the music and art world, brought together by the utilization of Ethereum.
Co-founded by British Award-Winning music producer Nellee Hooper (known for his work with Soull II Soul, Bjork, Madonna, U2), Gee Roberson Kanye West's and Drake's former manager as well as the former chairman of Geffen Records, Chimere Cisse a former communications executive at Burberry and consultant to the United Nations International Trade Centre (UNITC), Sotheby's Institute alumni Julia Pavlovska, Adam Strauss a former brand specialist at Nike, veteran blockchain architect Anthony Karter and crypto native Hajime Matsumura.
THN is the native currency of the Throne network, a keystone for the NFT economy.
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2021-11-07 17:30:00
Mt. Gox Payouts Nearing, But Is the Market Ready for It?
Following recent news that creditors after the infamous collapse of the bitcoin (BTC) exchange Mt. Gox can finally look forward to some payouts, questions reemerged about whether the market can absorb potential selling from such a large distribution of coins.
According to a translated version of a letter from the Japanese lawyer and trustee for the now-bankrupt exchange, Nobuaki Kobayashi, “approximately 99%” of creditors voted in favor of a proposal on how the distributions should occur. The proposal has now also been confirmed by the court, but no specific timeframe has yet been given on when the funds held by the trustee can be released.
According to documents filed with the court, the Japanese trustee holds a trove of BTC 141,686 (USD 8.8bn, at the time of writing). This comes in addition to a significant amount of bitcoin cash (BCH) and fiat currency also held by the trustee, waiting to be distributed to creditors.
For comparison, the amount of BTC held by the trustee is even more than MicroStrategy’s entire bitcoin holdings, which after the company’s last disclosed purchase stood at 114,042 BTC.
As anyone can imagine, new supply of such a massive amount of BTC to the market is no minor event (at the time of writing, the 24-hour BTC trading volume on exchanges stands at around USD 35.7bn). The potential for a distribution of coins at this magnitude to move markets is there, which explains the keen interest among bitcoin traders in the Mt. Gox case.
And although no specific date has yet been announced for when the distributions will be made, observers say that the date – once it becomes known – will be an important one for all bitcoin investors to watch.
2021-11-07 16:00:13
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Contract:
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Contact us:
https://telegram.im/dogesuperbowlusa
2021-11-05 22:00:31
Pernicious Reporting Clause Irks US Crypto Industry as House Votes on Infra Bill
US Congress could finally approve or reject the much-maligned Infrastructure Bill today after the draft law was finally slated for a vote.
The ruling Democratic Party has a narrow eight-seat majority and will likely need a near-unanimous vote in favor with few or no abstentions for the measure to pass – with the Republican Party determined to derail the bill.
The draft law will be used to fund trillions of USD worth of public spending, but crypto advocates are concerned that key clauses in the bill unfairly target the crypto sector – chiefly the fact that the existing IRC Section 6050I clause of the tax code will be expanded to include the words “any digital asset.”
Introduced in 1984, Section 6050I calls upon businesses and individuals receiving cash or a wired bank transfer worth over USD 10,000 to file a form to the Internal Revenue Service (IRS) and report the sender’s personal data – including their name, address, and social security number.
Per the IRS’ own terminology, the clause “requires that any person engaged in a trade or business that receives cash in excess of USD 10,000 in a single transaction or in related transactions must file Form 8300.”
This would essentially force decentralized finance (DeFi) and crypto users to disclose key aspects of their activities or risk the ire of the tax authorities.
2021-11-05 16:00:38
Singapore to Invest in the Future with 'Strong Regulation' of Crypto
In a sign of increasing competition among crypto-friendly jurisdictions, Singapore aims to lure crypto businesses from across the world and is determined to develop “strong regulation” to ensure regulatory clarity and enforce compliance, according to Ravi Menon, Managing Director of the Monetary Authority of Singapore (MAS).
Instead of combating the spread of crypto companies, the Singaporean regulator prefers to put in place regulations allowing companies that meet the MAS’s requirements and address the identified risks to operate, he told Bloomberg.
“With crypto-based activities, it is basically an investment in a prospective future, the shape of which is not clear at this point,” the managing director was quoted as saying.
According to him, not getting "into this game" might leave Singapore behind, but now they can have a head start, and better understand its potential benefits as well as its risks.
Menon said that, taking into consideration Singapore’s reputation as a global wealth hub, the island nation had to bolster its safeguards to combat the risks related to illicit financial flows.
The country is “interested in developing crypto technology, understanding blockchain, smart contracts and preparing ourselves for a Web 3.0 world,” according to the regulator’s head.
Singapore’s stance on crypto has allowed the country to attract major businesses such as crypto exchanges Binance and Gemini, many of which have had rows with regulators from across the world.
About 170 firms have applied to the MAS for a Singaporean license, bringing the total of companies that seek to operate under the country’s Payment Services Act to some 400 since January 2020. This said, since the law’s entry into force only three crypto-focused businesses have received such licenses. Two applicants were rejected, and some 30 companies withdrew their applications after holding talks with the MAS.
While the Singaporean regulator has assigned additional resources to assess the rising number of applications, the managing director said the regulator is in no rush to review them, and its priority is to ensure that companies meet their requirements.
2021-11-03 16:00:13
Should We Let Facebook/Meta Rule The Metaverse Too?
Facebook chief executive Mark Zuckerberg has announced the company will change its name to Meta, saying the move reflects the fact the company is now much broader than just the social media platform (which will still be called Facebook).
The rebrand follows several months of intensifying discourse by Zuckerberg and the company more broadly on the metaverse – the idea of integrating real and digital worlds ever more seamlessly, using technologies such as virtual reality (VR) and augmented reality (AR).
Zuckerberg said he hoped the metaverse will be a new ecosystem that will create millions of jobs for content creators.
But is this just a shallow PR exercise, with Zuckerberg trying to reset the Facebook brand after several scandal-ridden years, or is it a genuine bid to set the company on course for what he sees as the future of computing?
Oculus had risen to prominence with a lucrative Kickstarter campaign, and many of its backers were angry that their support for the “future of gaming” had been co-opted by Silicon Valley.
While gamers fretted that Facebook would give them VR versions of Farmville rather than the hardcore content they envisioned, cynics viewed the purchase as part of a spending spree after Facebook’s USD 16bn stock market launch, or simply Zuckerberg indulging a personal interest in gaming.
Under Facebook, Oculus has gone on to dominate the VR market with over 60% market share. That’s thanks to heavy cross-subsidisation from Facebook’s advertising business and a console-like approach with the mobile “Quest” VR headset.
2021-11-01 16:00:13
Why Crypto Needs To Be Regulated
Viktor Prokopenya is a London-based fintech investor and the Founder of VP Capital, an investment vehicle focused on the technology sector.
Could we live in a world without rules? In theory, yes - we can live with an absence of government, and indeed our early ancestors did so. At its extreme, this is called anarchy - a state of disorder and lawlessness.
In reality, humans have found that regulations are the building blocks of a harmonious society and are critical to development. We need structures and rules to promote a positive culture.
The Noble Prize-winning economist Elinor Ostrom observed that when people have to manage shared resources such as land, fisheries, or water for irrigation, they spontaneously construct rules.
Indeed, through history, we have seen that every evolving industry goes through a process ending to a greater or lesser degree with regulation. The most regulated industries are those that have the potential to cause the most harm.
Take the case of the pharmaceutical industry - heavily regulated now, so that around the world, people can rely on affordable and safe drugs to protect their health. Before regulation, you had opportunistic conmen selling fraudulent cures to gullible members of the public.
Education is another example where regulation ensures the same high standards are upheld by different institutions, to engender trust across the sector. Food supply and hygiene is also heavily regulated, to safeguard a basic human need. In these industries and countless more, regulation has had positive benefits.
Currently, this debate is raging around crypto. Tesla CEO Elon Musk was recently asked whether the US government should be involved in regulating the crypto space. ‘It is not possible I think, to destroy crypto, but it is possible for governments to slow down its advancement,’ he said. ‘I would say, ‘Do nothing’.
2021-10-30 20:00:26
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2021-10-30 12:18:41
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2021-10-29 23:10:00
Cream Finance Suffers Another Exploit as Attacker Runs Away With USD 100M+
Ethereum (ETH)-powered decentralized finance (DeFi) project Cream Finance (CREAM) suffered another flash loan attack as the attacker reportedly stole more than USD 100m worth of tokens.
Blockchain analytics and security firm PeckShield flagged the attacker's address, while Cream finance confirmed that they "are investigating an exploit on C.R.E.A.M. v1 on Ethereum and will share updates as soon as they are available."
CREAM tanked following the news and, at 15:11 UTC, it trades at USD 111.61, dropping by almost 30% in an hour and a day.
"The hack is made possible due to a price manipulation bug in CREAM price oracle," PeckShield said, adding that the hacker is still swapping the stolen funds via ParaSwap and Uniswap platforms.
Just this past August, Cream Finance lost USD 25m in another flash loan attack.
2021-10-28 16:00:27