Article: NFT Mania, The Next Crypto Bubble?

Blockchain, Crypto, Money

NFT Mania, The Next Crypto Bubble?

The growing boom in non-fungible tokens – digital assets that are one of one, as opposed to cryptocurrencies that are one of many – was long overdue. Applying a technology that enables digital bearer instruments to things like art, music and collectibles makes a lot of sense, and is arguably even more intuitive than applying it to money. That’s why I opened my first blockchain book by talking about the music industry.

If you spend some time reading up on NFTs in traditional publications such as the New York Times and Rolling Stone, then what you’ll detect is a collective sigh of relief. The world is slowly realizing that public blockchain networks like Ethereum enables creators to climb out of the digital dungeon they’ve been trapped in for the past 20 years.

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Article: Can Governments Stop Bitcoin?

Crypto, Money

Can Governments Stop Bitcoin?

Since its creation more than 12 years ago, Bitcoin is undefeated. Its price has leaped from $5 to $50 to $500 to $5,000 to now past $50,000. The number of global users has eclipsed 100 million. The system’s network security, number of developers, and new applications are at all-time highs. Dozens of companies including Tesla and Square have started to add Bitcoin to their corporate treasuries.

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Article: Square Adds $170 Million In Bitcoin To Enable “Economic Empowerment”

Crypto, Money

Square Adds $170 Million In Bitcoin To Enable “Economic Empowerment”

…cryptocurrency is an instrument of economic empowerment, providing a way for individuals to participate in a global monetary system and secure their own financial future.

Building on the list of recent companies to add crypto to their reserves, or embrace as a payments solution, Jack Dorsey’s other company – Square – reportedly added $170 million of bitcoin to its existing $50 million reserves.

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Article: What Janet Yellen Gets Wrong About Bitcoin

Crypto, Money

What Janet Yellen Gets Wrong About Bitcoin

At the New York Times’ DealBook DC Policy Project today, the US Treasury secretary reiterated to journalist Andrew Ross Sorkin that she’s no big fan of Bitcoin, this time taking aim at its energy consumption and potential use for illicit financing.

“I don’t think that Bitcoin is widely used as a transaction mechanism,” Secretary Yellen said in response to a question about whether the Treasury Department needed to be paying more attention to the asset.

“To the extent it’s used, I fear it’s often for illicit finance.”

The illicit finance line is an old saw, but it isn’t backed up by much in the way of hard datasaid Anderson Kill partner Hailey Lennon for Forbes last month.

According to blockchain tracking firm Chainalysis, criminal activity accounted for 0.34% of cryptocurrency transaction volume, down from 2.1% in 2019.

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