BLOCKCHAIN

The Metaverse Could Be Worth About $5 Trillion by 2030 

[ad_1] A report published by International Consulting Firm, Mckinsey & Company, suggested that the global spending in the metaverse could reach $5 trillion by 2030. The 77-page report titled “Value Creation in the Metaverse” analyzed the current adoption trend and drew additional insights from two global surveys. The first survey gathered data from 3,104 consumers across 11 countries, while the second polled a range of executives from 448 companies cutting
Business

High-profile BAYC collector denies allegations of wrongdoing brought by DeFi detective

[ad_1] On Thursday, ZachXBT, a cyber detective in the decentralized finance, or DeFi, realm, accused prominent Taiwanese musician and blockchain personality Jeff Huang, also known as Machi Big Brother, of misconduct in 10 different cryptocurrency projects. Machi Big Brother is known outside of Taiwan as an avid collector of Bored Ape Yacht Club nonfungible tokens and possessed a collection worth an estimated $8.26 million at the peak of the crypto
Business

Bitcoin traders expect a ‘long consolidation’ phase now that BTC trades below $21K

[ad_1] Crypto traders had a brief opportunity to pause and take stock of where things are on June 16 as the relentless selling that has hammered Bitcoin (BTC) and the wider market over the past week began to relent despite an ongoing sell-off in the traditional markets. Data from Cointelegraph Markets Pro and TradingView shows that after climbing to a high of $23,000 in the early trading hours on June 16,
Business

Hester Peirce expresses strong support for crypto spot ETFs and regulatory structure

[ad_1] United States Securities and Exchange Commission (SEC) commissioner Hester Peirce, sometimes known as Crypto Mom for her ardent support of the industry, spoke Tuesday at a conference hosted by the conservative-libertarian Federalist Society titled “Regulating the New Crypto Ecosystem: Necessary Regulation or Crippling Future Innovation?” Her lengthy remarks – over 4,00 words in the prepared version, which was augmented extemporaneously as she presented it – contain some of the
BLOCKCHAIN

Resistance is futile! 3 reasons why Bitcoin mining will never go away

[ad_1] In the summer of 2021, the Chinese government banned Bitcoin mining and cited the typical concerns of harmful environmental effects and money laundering. Now, the Chinese government is working toward establishing its own digital yuan currency. This raises the question as to whether the original reasoning was merely a Trojan horse.This ban could have easily been a huge blow to Bitcoin’s momentum. After all, close to 75% of all
Business

Three Arrows Capital has failed to meet margin calls: Report

[ad_1] Venture firm Three Arrows Capital (3AC) has reportedly failed to meet margin calls from its lenders, raising the spectre of insolvency after this week’s crypto market collapse triggered unforeseen liquidations for the Singapore-based company.Crypto lender BlockFi was among the firms to liquidate at least some of 3AC’s positions, according to the Financial Times. Citing people familiar with the matter, FT reported that 3AC had borrowed Bitcoin (BTC) from the
ALTCOIN

Espresso Systems, a Scaling and Privacy Web 3 Launches Cape Privacy Product on Testnet

[ad_1] Espresso Systems, a scaling and privacy system for Web 3 applications, recently launched its first product in testnet. The product, Configurable Asset Privacy on Ethereum (CAPE), is a smart contract application that allows asset creators to define customizable privacy policies that will determine what type of information can be seen about the asset holders and their transactions under certain circumstances. The launch of CAPE came three months after Espresso