Bitcoin News and Finance: What You Need to Know

Bank of England’s analysts say crypto assets could have important roles within the metaverse. “Widespread adoption of crypto in the metaverse … would require compliance with robust consumer protection and financial stability regulatory frameworks,” they added. Bank of England’s Analysts on the Metaverse, Crypto, and Regulation Bank of England’s economist Owen Lock and policy analyst Teresa Cascino published a blog post titled “Cryptoassets, the metaverse and systemic risk” Tuesday. “Cryptoassets could have important roles within the metaverse,” they began, cautioning: If an open and decentralized metaverse grows, existing risks from cryptoassets may scale to have systemic financial stability consequences. “Widespread adoption of crypto in the metaverse, or any other setting would require compliance with robust consumer protection and financial stability regulatory frameworks,” they stressed. Lock and Cascino explained that “The open metaverse will require a means with which to...

PRESS RELEASE. ReadON ( readon.me ), a company that aims to provide users with a brand-new content consumption experience by utilizing blockchain, completed its seed investment round of $2M led by SevenX Ventures. Other investors included HashKey Capital, Foresight Ventures, Sky9 Capital, ArkStream Capital, Puzzle Ventures, CyberConnect, M23 Fund, Smrti Lab and individual investors. The seed funding will be used to develop a ReadON mobile application and a decentralized recommendation system. Neo Y., Cofounder and CEO of ReadON, is a serial entrepreneur who founded a games and applications company that made over 500K DAU, $10 million in revenue in 2020. Neo previously worked as the Director of Product at Qutoutiao (NASDAQ: QTT) , responsible for designing the best Play2Earn product in China with 30M daily active users. Troy H., Co-founder and CTO of ReadON, was formerly the senior technology manager at ByteDance. Prior to that, Troy was a senior tech lead at Pinterest (NYSE: PI...

On August 9, a firm that uses landfill methane to fuel bitcoin miners, Vespene Energy, announced the company has raised $4.3 million in a funding round led by Polychain Capital. Vespene aims to use the funds for its pilot in California by using landfill methane to mine bitcoin and “mitigate a major source of greenhouse gas emissions.” Vespene Energy Raises $4.3M in Funding Round Led by Polychain Capital, Firm Aims to Give Landfill Owners the Ability to Monetize Landfill Methane Vespene Energy announced that the company has raised $4.3 million from a financing round led by Polychain Capital. According to the company’s website , the startup converts landfill methane into bitcoin value with no grid connections or pipeline buildout. Vespene essentially installs onsite data centers powered by micro-turbines, getting energy from municipal landfills’ methane. It gives landfill owners the ability to monetize their landfill methane, “reducing routine flaring and maintenance costs,” Vespe...

President Joe Biden stated Wednesday that the U.S. economy had zero percent inflation in July following the latest CPI report. “Biden is claiming that we saw zero percent inflation last month. But there’s a zero percent chance that’s the case. Inflation in July was 8.5%, which is still a 40-year high,” said a lawmaker. Biden’s Zero Inflation Comment and Responses On Wednesday, President Joe Biden publicly stated that the U.S. economy had 0% inflation in July after the latest consumer price index (CPI) report was released. “Before I begin today, I want to say a word about the news that came out today relative to the economy,” Biden began. “Actually, I just want to say a number: zero.” The president added: Today, we received news that our economy had zero percent inflation in the month of July. Zero percent. The White House press secretary, Karine Jean-Pierre, similarly stated on Twitter: “We just received news that our economy had 0% inflation in July. While the price of some t...

Coinbase CEO Brian Armstrong says “the more regulation there is for crypto, the better it is for Coinbase.” He revealed an inquiry from the U.S. Securities and Exchange Commission (SEC), noting: “We do not yet know if this inquiry will become a formal investigation.” Coinbase’s CEO on Crypto Regulation The CEO of Coinbase Global (Nasdaq: COIN), Brian Armstrong, discussed his company’s performance and cryptocurrency regulation during Coinbase’s Q2 earnings call Tuesday. Coinbase’s revenue declined almost 64% in the second quarter. The company reported a $1.1 billion net loss, compared with $1.59 billion in net income in the same quarter last year. “Q2 was a test of durability for crypto companies and a complex quarter overall,” Coinbase said in its latest letter to shareholders. Regarding cryptocurrency regulation, Armstrong detailed: “We’ve been pleased to see the progress recently both in the U.S. and in countries around the world toward more clear legislation for crypto. In the ...

When non-fungible token (NFT) collectibles became popular, the fractionalized NFT market grew past the $200 million range seven months ago in December 2021. Since then, the fractionalized NFT market has lost more than 76% in value, dropping to an overall market capitalization of around $50 million. Fractional NFT Market Value Slides From $212 Million to $50 Million The fractionalized NFT market followed alongside the sizable growth the entire NFT industry saw last year. At its height in December 2021, the overall fractionalized NFT market valuation was approximately $212.6 million , according to metrics recorded by dappradar.com. Today, the value has evaporated by 76.41% , as the current fractionalized NFT market capitalization is roughly $50,401,068. Over seven months ago on Sunday, December 12, 2021, the largest fractionalized NFT project market valuation belonged to the Doge NFT (DOG) with a $130.14 million market cap. Today, the Doge fractionalized NFT project is still the top...