NY SPEEDING UP BITLICENSES FOR CRYPTO FIRMS. The banking authority in New York is speeding up work on its crypto company license regulatory framework, dubbed “BitLicense.” That’s according to Adrienne Harris, the head of New York’s Department of Financial Services. Harris talked recently with theblockcrypto.com about her work on extending the DFS’ licensing system for...
Tag: may 24 2022
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BARCLAYS, GOLDMAN BACK NEW CRYPTO PLATFORM
Goldman Sachs and British bank Barclays are part of a new $70-million funding round for five-year-old Ellwood Technologies, a cryptocurrency trading platform created by Alan Howard, a British hedge fund billionaire. Other investors include Dawn Capital, Galaxy Digital, and Germany’s Commerzbank. This new round of funding valued Ellwood at about $500 million. The round was...
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DESPITE RECENT CRASH, INVESTORS PUT NEW MONEY INTO CRYPTO
Last week, Toronto firm Round 13 Capital announced it had filled a $70-million dollar fund that will be invested in blockchain companies and hopes to add another $30 million to it. The company already has channeled $15 million into six deals and expects to have all the money rehoused within two years. “This is the...
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CRYPTO EXCHANGE FTX OPENS ITSELF TO STOCK TRADING
Further blurring the line between digital and traditional assets, cryptocurrency exchange FTX now allows customers to trade stocks commission-free on its platform. FTX has begun the service for select customers and will open the service to all users in the next few months, the company said. The exchange will not clear customers’ transactions through high-speed...
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GENSLER WARNS AGAIN ON CRYPTO RISKS
Even after cryptocurrency prices crashed earlier this month, more investors still may be lured to, and harmed by, the volatile asset, Gary Gensler, chair of the U.S. Securities and Exchange Commission, warned in comments to reporters last week after a Congressional hearing. “I think a lot of these tokens will fail,” he said. “I fear...
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BITCOIN USELESS AS A PAYMENT SYSTEM, FTX FOUNDER SAYS
Bitcoin will never be widely used as a payment system because it is inefficient and carries high environmental costs, Sam Bankman-Fried, founder of the FTX cryptocurrency exchange, said last week in comments quoted by the Financial Times. Bankman-Fried is “one of crypto’s most influential chief executive officers,” the FT noted. The “proof of work” system...
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CBDC OUT TO PRESERVE STATUS QUO FOR HAVE AND HAVE NOT COUNTRIES, SAYS NEW STUDY
Countries with relatively strong fiat currencies are moving to CBDCs (Central Bank Digital Currencies) at a higher clip than countries with weak fiat currencies. They’re out to try to lead in establishing their digital forms of money versus competitors, and to try to undercut the use of cryptocurrencies. Those are the findings of a study...
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NSF WILL FUND REGIONAL “INNOVATION ENGINES”
A new National Science Foundation program will fund “innovation engines” in parts of the U.S. that now lack the kind of development and commercialization infrastructure that defines Silicon Valley, Boston’s Route 128, and Raleigh’s Research Triangle Park. “We spin out a dozen companies a year,” vice-chancellor Evan Facher at the University of Pittsburgh told Science...
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IMPLANTABLE POWER CELL RUNS ON THE BODY’S ENERGY
Pacemakers and other medical implants run on electricity. You can’t plug them in, so earlier versions required batteries, which needed to be surgically replaced every so often and could leak toxic chemicals into the patient’s body. In recent years, scientists have dabbled in ways to borrow the body’s own energy to run the devices. Scientists...
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TOYOTA TAKES A DIFFERENT ROUTE TO GREEN FUELS
A long-time skeptic of electric vehicles’ green credentials, Toyota is turning its focus to hydrogen fuel cells. In 2014, the company became the first to introduce a commercially available hydrogen-powered car: the zero-emission Toyota Mirai, a fuel-cell sedan that can travel more than 400 miles on a five-minute pit stop at a hydrogen pump, Toyota...
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