Thailand to define ‘red lines‘ for crypto in early 2022
The central bank is cooperating with the Thai Securities and Exchange Commission and the finance ministry to point out restrictions specific to the crypto industry. For example, “cryptocurrencies cannot become a means of payment,” Sethaput noted. The governor emphasized that, despite local authorities potentially recognizing digital assets as an investment product, their extreme volatility poses risks to the financial system. Authorities will also collaborate to adopt proper safeguards for future financial securities, he added.
A letter to Zuckerberg: The Metaverse is not what you think it is
The last few years must certainly not have been easy. Your business model centered around polarization and, subsequently, outrage has ironically unified many of us against relying too much on your social media platform. Your government — whose sniper rifle accuracy you know all too well as they took out your ill-conceived stablecoin project shortly after your expensive global advertising campaign went live — has tuned in to the many whistleblowers exposing how your company captures and sells attention. It has called you in for questioning. Although to be fair, they also needed to speak with you to better understand the basics of digital ad revenue.
Only a paper moon: Bitcoin price briefly shows $870B on CoinMarketCap
Crypto traders experienced a moment of joy, followed by confusion, when a glitch caused several data aggregators to briefly display enormous gains for Bitcoin (BTC), Ether (ETH) and other cryptocurrencies. CoinMarketCap and several other price indexes showed Bitcoin’s price closing to $900 billion as ETH showed over $81 billion. The momentary glitch also impacted Cointelegraph’s price indexes.
$33.5 billion worth of ETH ‘trapped’ in largest Ethereum contract
The single largest Ethereum contract containing 8,641,954 Ether (ETH) worth $33.5 billion is sitting idle because it cannot be spent or sent. A Twitter user highlighted the Beacon chain contract, claiming it to be the largest Ethereum contract with billions of dollars worth of ETH “trapped” inside it.
The Sandbox co-founder wants to defend metaverses against Big Tech
The Sandbox co-founder Sebastien Borget wants to defend the metaverse from Big Tech giants aiming to make a foray into the nascent market. In a recent interview, Borget said that he is not very keen on Big Tech companies such as Meta joining the metaverse. He explained further that major technology companies could threaten the decentralization of the metaverse as their business model goes against it.
Bitcoin price dip may end Wednesday as Bitfinex bids hint at Fed ‘buy the news’ plans
As Cointelegraph reported, the Fed tapering its asset purchases effectively limits the availability of “easy” money, and accelerating the process could pressure risk assets such as Bitcoin until a slackening of policy returns. For the short term, however, a buy-up would echo events from last month’s inflation data print, this producing a conspicuous but short-lived boost to BTC. Bitfinex traders lay in wait in an area roughly between $44,500 and $46,000 Tuesday, with spot price currently at $46,800 after a day of losses. “Think FOMC has a good chance to be a ‘sell the rumor, buy the news’ event,” analyst William Clemente added.
WisdomTree amends Bitcoin ETF application, naming US Bank as custodian
New York-based asset manager WisdomTree has amended its filing for a Bitcoin exchange-traded fund with the Securities and Exchange Commission to name U.S. Bank as its custodian. In a Wednesday filing, WisdomTree listed U.S. Bank National Association as the custodian for shares of its Bitcoin (BTC) trust. The filing is an amendment to its March 11 registration for a spot Bitcoin exchange-traded fund, or ETF, submitted to the SEC prior to U.S. Bank offering crypto custody services for institutional investors.
Ripple chair’s pay-off plan to convince BTC miners to adopt proof-of-stake
Ripple executive chairman and co-founder Chris Larsen has unveiled his plan for Bitcoin (BTC) miners to move away from proof-of-work (PoW), saying they should view it as “a net positive for their longevity.” He argues it could provide a major boost to the share prices of listed mining firms, “as any new code proposal would almost certainly have to include lucrative incentives to gain their support.”
Vitalik Buterin outlines ‘endgame’ roadmap for ETH 2.0
Ethereum co-founder Vitalik Buterin has outlined his vision for a “plausible roadmap” for Eth2, presenting a future where the largest smart-contract platform can increase its scalability while meeting high standards for trustlessness and censorship resistance. In a Monday post titled “Endgame,” Buterin presented a thought experiment for how the average big blockchain — defined by very high block frequency, high block size and thousands of transactions per second — can still be considered sufficiently trustless and censorship-resistant.
Browser cookies are not consent: The new path to privacy after EU data regulation fail
Nobody loves cookies: Where the European Union General Data Protection Regulation falls short and what can be done. And as it turns out, it doesn’t even matter what you click. Because “Real-Time Bidding,” the primary tracking-based ad system, nevertheless “broadcasts internet users’ behavior and real-world locations to thousands of companies, billions of times a day.”