A “TIK-TOK” WITH TOKENOMICS. Inspired by blockchain fueled gaming sensation Axie Infinity, Chingari, an Indian short-video sharing site, is looking to integrate blockchain “tokenomics” into its platform The firm announced on Friday that it has raised $19 million in financing to build its mainnet and hold a token sale for its Solana-based GARI token. The...
Category: TRENDS IN CRYPTOS
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THE EROTIC BLOCK
A few months ago one of the web’s larger platforms for independent adult content, OnlyFans.com, got blowback for banning explicit content—something on which their site was basically predicated. The ban, which turned out to be temporary, was the result of pressure by financial institutions including Bank of New York Mellon and JPMorgan Chase. Some are...
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A PERVERSION OF CRYPTOCURRENCY
As the U.S. and China, the two major global powers, grow more alike in their appetite for surveilling and controlling their own citizenries, China has decisively banned crypto and aggressively rolled out a digital Yuan. The U.S. is facing increasing pressures to come up with its own CBDC (Central Bank Digital currency). So what are...
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THE CRYPTO “AGE OF UTILITY” HAS JUST BEGUN
Back in February we noted that 2021 would likely see exponential growth in cryptocurrency adoption. (See “CRYPTO SANITY,” 16 Feb 2021) That happened, with crypto users and investors more than doubling in the space of six months. The year has also marked a sea change in the attitude of traditional institutions toward cryptos. Speaking at...
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POWELL ACCIDENTALLY BOOSTS CRYPTO
Cryptocurrencies’ prices bumped up Friday after Jerome Powell, chair of the U.S. Federal Reserve, said in testimony before the House Financial Services Committee that the Fed has no plans to ban them. Bitcoin jumped 10.8 percent to rise above $48,000 on Powell’s comment; Ether also shot up 10.8 percent. Crypto enthusiasts have long been nervous...
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BLOCKCHAIN BATTLES
BLOCKCHAIN BULLS: ORLANDO BRAVO. When the world’s largest private equity firms are all beginning to sound the same note regarding a wave, there might be an ocean behind it. This time it’s Orlando Bravo, co-founder of Thoma Bravo, which currently has more that 80 billion in assets under management (AUM). Bravo told CNBC he was...
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FED MOVES A STEP CLOSER TO CBDC FUNCTIONALITY
A press release on 4 October may have just signaled that the Federal Reserve is taking a step on the way to a CBDC (Central Bank Digital Currency). According to the release, the Fed is gearing up to adopt the ISO 20022 message format for its Fedwire Funds Service, and has invited public comment on...
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METAVERSE GAMING HITS BILLION DOLLAR PAYDIRT WITH AXIE INFINITY
Axie Infinity has grabbed the attention of traditional tech and gaming companies. The crypto based game is built off blockchain technology and utilizes NFT (Non-Fungible Token) characters. Currently, it’s raking in revenues of 28.9 million dollars a week, which projects out to 1.5 billion a year. That’s equivalent in revenue to blockbuster traditional games. No...
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BANKS OBJECT TO STRICT BITCOIN RESERVE RULES
The Global Financial Markets Association (GFMA), a trade group of banks such as JP Morgan Chase and Deutsche Bank, and five other financial lobbying groups are objecting to a rule proposed by the Basel Committee for Banking Supervision that would require the banks to have $1,250 cash in reserve for every dollar’s worth of Bitcoin...
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GENSLER: CRYPTO NOT VIABLE LONG-TERM
Cryptocurrencies have little chance of long-term viability, U.S. Securities and Exchange (SEC) chair Gary Gensler said during a 21 September virtual event hosted by the Washington Post. “I don’t think there’s long-term viability for five or six thousand private forms of money,” he said. Gensler likened the crypto craze to the so-called “wildcat banking” days...
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