Cryptocurrency prices take another hit in downward spiral
Macroeconomic factors and a spate of bad news override bullish outlook in crypto market as the year lurches toward its end.
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South Korea’s Danal to allow crypto as payment for BMWs
Fast facts Blockchain-based payment platform Danal Fintech announced a new service plan that will allow BMW vehicles to be purchased with Paycoin (PCI) in its new partnership with Samchully Motors, the domestic dealer of the luxury automobile line. The recent announcement makes the first case in South Korea where an automobile can be paid in…
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Elon Musk named Time Person of the Year
One of the most influential cheerleaders for cryptocurrency is named Time’s 2021 Person of the Year for his work on electric cars and space rockets.
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US SPAC Crypto 1 closes IPO, says won’t pursue ‘business combinations’ with any Hong Kong crypto firms
Crypto 1 Acquisition Corp., a U.S.-incorporated blank check company, has completed its initial public offering (IPO) with gross proceeds of US$230 million, according to a company statement released Friday. Fast facts The company’s units commenced trading on the Nasdaq Global Market under the ticker symbol “DAOOU” on Dec. 7. Acting as a special purpose acquisition…
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PlayNFT plug-in to enable streamers to offer NFTs on Twitch
Non-fungible token minting platform PlayNFT wants to enable Twitch streamers to offer NFTs to their audience without needing to leave the Twitch platform. Fast facts Blockchain games studio Enigma Games is using Enjin’s Efinity blockchain on PlayNFT, the studio’s NFT minting platform, to build a plug-in that will allow Twitch’s 9.2 million streamers to use…
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Solana suffers network slowdown, raising questions around proof of history
Confusion surrounded the Solana blockchain community over the weekend as a sudden drop in transaction speeds was initially believed to be a distributed denial of service (DDoS) attack, resulting in a lengthy debate as to the cause of the delay. Fast facts Solana-based non-fungible token (NFT) platform Blockasset was one of the first to highlight…
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India PM Twitter account hacked, fake tweet claims Bitcoin is legal tender
India prime minister Narendra Modi’s Twitter account was hacked on Sunday morning, with the attacker posting a false tweet about India officially adopting Bitcoin as legal tender. Fast facts The tweet also said the government has bought 500 Bitcoin which will be distributed among citizens. This was the second instance of Modi’s Twitter account getting…
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China’s Yunnan province eradicates illegal power supply for Bitcoin mining
The energy authority in Southwest China’s Yunnan province said it has eliminated the illegal power supply from small and midsize hydropower stations to Bitcoin mining, as China continues to intensify its clampdown on crypto mining. Fast facts In a Friday post on Weibo, China’s Twitter-like microblogging platform, the Yunnan authority said as of the end…