NFTs can upend the music business. Artists should take note
Blockchain technology allows musicians to sell songs directly and earn more per song, writes Adi Ben-Ari of Applied Blockchain.
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India needs to make up its mind over crypto
Although India hoped that taxation would be a step toward regulation rather than a ban, the high tax rates and proposed rules seem to be geared toward dissuading crypto trading.
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11 arrested in India’s five-year, $5.4M crypto scam
Indian authorities arrested 11 individuals over the weekend, connected with a crypto scam case that allegedly used the allure of high gains to dupe 2,000 investors out of US$5.4 million (INR 400 million), local media reported. Fast facts Four of the accused were apprehended on Saturday after being on the run since March last year,…
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CCTV NFTs hit resale market before transfer permitted
Non-fungible tokens (NFTs), or digital collectibles, issued by China Central Television (CCTV), the nation’s largest state-owned broadcast media, are appearing in China’s largest online second-hand market for at least 10 times the original price in a pre-sale bid, even before trade embargoes on the assets have lifted. See related article: China’s mouthpiece newspaper is giving…
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LooksRare trails OpenSea in sales volume as developers cash out $30M
Trading volumes on non-fungible token (NFT) marketplace LooksRare dropped by more than half its daily volume since developers withdrew roughly US$30 million of its native LOOKS token and cashed out in wrapped Ether (wETH) Fast facts LooksRare was averaging daily sales volumes of around US$550 million but fell more than 50% overnight in early February…
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Cardano to close 2022 at $2.79, experts predict
Cardano is projected to skyrocket to US$58.04 by the start of the next decade, while closing 2022 at more than double its current value at US$2.79, according to Finder’s panel of 17 crypto experts. See related article: Ethereum price expected to hit $7,609 in 2022: report Fast facts Cardano, which was trading at US$0.96 at…
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‘Extreme fear’: Bitcoin continues bear run, while Solana is up
Bitcoin, the largest cryptocurrency by market capitalization, continues to tank along with other cryptocurrencies in the global market, with investor sentiment at “extreme fear” at Bitcoin’s Fear and Greed Index. See related article: Bitcoin leads market-wide downturn as Russia fears rise Fast facts Bitcoin is currently down by almost 2% to trade at US$39,185. Bitcoin’s…
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South Korea’s largest financial group mulls crypto ETFs
South Korea’s KB Asset Management launched a committee on Monday that will develop investment strategies for releasing digital asset products such as exchange-traded funds (ETFs). See related article: South Korean banks find workaround to cash in on crypto services Fast facts The ‘Digital Asset Management Preparatory Committee’ aims to be the first to launch digital…
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BIT Mining ditches Kazakh data center due to rocky power supply
BIT Mining, a Hong Kong-headquartered cryptocurrency miner, has terminated its data center construction in Kazakhstan due to an unstable local power supply, the company said in its quarterly report. See related article: Crypto mining’s Great Migration continues — out of Kazakhstan Fast facts BIT Mining now abandons a US$9.3 million pledge to a Kazakh data…
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OpenSea CEO: $1.7M phishing not from the NFT marketplace
OpenSea CEO Devin Finzer has responded to an apparent phishing scam that targeted its users in a US$1.7 million theft of popular non-fungible tokens (NFTs) such as Bored Ape Yacht Club and Azuki. Fast facts “As far as we can tell, this is a phishing attack. We don’t believe it’s connected to the OpenSea website.…