Author: Coindesk
The strategy also mimics that of Tysons Corner, Virginia-based MicroStrategy, the software developer that in 2020 said it would start building up its holdings of bitcoin. Since then, its stock price has often mirrored the fluctuations in bitcoin’s price, reflecting investor sentiment toward the cryptocurrency market. It is now the largest corporate owner of bitcoin, according to bitcointreasuries.net, holding more than 214,000 valued at more than $15 billion. Read the full article here
McHenry has been negotiating stablecoin legislation with members of his party and House Democrats for months, and when a bill cleared his committee, it did so with the support of several Democrats. But there has been some resistance from the administration and from the panel’s top Democrat, Rep. Maxine Waters (D-Calif.), about the role of the federal government in overseeing stablecoin issuers. Read the full article here
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“Because you see the transaction fees for Bitcoin and Ethereum, no one would ever use that database to build anything on, right? My analogy for non-crypto people is, would you want to fill your car at $50, you know, week after week, and then one week at $600? And that’s effectively what high gas fees are on Ethereum,” he said. Read the full article here
Crypto skeptic Sen. Sherrod Brown (D-Ohio), whose Democratic Party currently controls the Senate, is the chairman of the Banking Committee and has been reluctant to allow digital assets regulatory bills to move through the panel, despite some progress in the House of Representatives. In Ohio’s general election, he faces Republican challenger Bernie Moreno, an Ohio businessman and crypto enthusiast who founded a blockchain startup, and Lummis – a member of Brown’s committee – predicted on Tuesday that digital assets could be front and center in this matchup. Read the full article here
However, the general public’s distaste of NFTs hasn’t stopped the art industry from embracing them. In 2021, Christie’s auction house made history with the $69 million sale of Beeple’s “Everydays” collage. Since then, the storied company has expanded further into the realm of crypto, including countless NFT auctions, investments in Web3 firms via Christie’s Ventures and even the launch of its own NFT marketplace, Christie’s 3.0. Read the full article here
EigenDA, the first AVS to launch, is built by Eigen Labs as a way to help other blockchain protocols store transaction data and other information. It will compete with similar protocols, like Celestia, that have quickly become critical pieces of blockchain infrastructure as the industry has expanded. Read the full article here
NEW YORK – To federal prosecutors, Avi Eisenberg’s $110 million crypto trade on Mango Markets put a digital twist on an old scam. But to the DeFi trader’s defense team, it was a legitimate windfall from the risky world of crypto, where finance’s old rules don’t apply. Read the full article here
“I, for one, would like to look at the possibility of working with [the Treasury Department] to address some of the things in your punch list that we agree with, so that we may be able to get regulations on the books in this Congress that will certainly not go as far some of my colleagues on the other side of the aisle want to go, but [will be] far short of the wild, wild West that we find ourselves in now,” Tillis said. Read the full article here
But that’s not the only way Lazzarin thinks a16z’s research initiatives can help advance the firm’s bottom line. The code for Jolt has been open-sourced, meaning anyone can theoretically use or repurpose it without paying a16z. “Because we’re long-term investors, we don’t trade day-to-day, week-to-week, or even month-to-month,” said Lazzarin. “We benefit most if the space advances fastest over the next five to 10 years, and so our incentive is purely to advance everyone through public goods that we will never monetize.” Read the full article here