Crypto leaders back MIT’s four-year initiative to harden Bitcoin’s security

Crypto industry captains are throwing their support behind a long-term project from MIT’s Digital Currency Initiative to enhance Bitcoin’s security. The Massachusetts Institute of Technology’s Digital Currency Initiative has revealed a new “Bitcoin Software and Security Effort” intended to foster research into bolstering the Bitcoin network’s defenses. The open-source initiative has received support from a diverse group of crypto industry leaders, including Gemini’s Cameron and Tyler Winklevoss, MicroStrategy’s CEO Michael Saylor, Square CEO Jack Dorsey, and major European digital asset manager, CoinShares. In a blog post unveiling the project, DCI…

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Beeple NFT sells for record $6.6M as bidding for ‘Everydays’ at Christie’s hits $2.2M

Beeple’s Crossroads NFT has been resold for $6.6 million, more than 100 times its original price, and smashing the previous record of $1.5 million for an individual NFT. Buzzy digital artist Mike Winkelmann, aka Beeple, made NFT history yesterday with his piece, “Crossroads”, netting $6.6 million on the secondary market via Nifty Gateway. Like many Beeple artworks, Crossroads was inspired by the 2020 U.S. presidential elections. It was designed to feature one of two animations, depending on the outcome of the election — one a triumphant Trump, the other a…

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Central Bank of Nigeria Governor Defends Decision to Exclude Crypto Players, Says the Order Is ‘in the Best Interests of Nigerians’

The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has defended the apex bank’s decision to exclude cryptocurrency transactions from the banking ecosystem. In his testimony before the Nigerian Senate, Emefiele claimed that the February 5 directive is “in the best interests of Nigerians.” Crypto Not Money Immediately following the announcement of the CBN prohibition, Nigeria’s regulated financial institutions began to sever ties with crypto traders and exchanges. However, following an outcry over the move, some supportive members of the Nigerian Senate Committee on Banking, Insurance, and Other…

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JPMorgan report endorses 1% allocation to Bitcoin as a hedge

Bitcoin would serve as a hedge against fluctuations in traditional assets. Strategists at Wall Street banking giant JPMorgan have suggested that a one percent portfolio allocation to Bitcoin would serve as a hedge against fluctuations in traditional asset classes such as stocks, bonds, and commodities. A small percentage allocation was advised to mitigate the risk of any large downturns in the digital asset’s value. Bitcoin has declined 20% since its all-time high of over $58,000 on Feb. 21 but it is up 60% since the beginning of this year. According…

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6M noobs have bought coins on Robinhood Crypto already in 2021

Retail users have flocked to cryptocurrencies in 2021, with Robinhood reporting an increase in new monthly crypto traders of 15 times last year’s average. Retail-focused trading app Robinhood has revealed the number of new monthly customers buying from its crypto platform this year is 15 times the 2020 average. According to the company’s new report, “Crypto Goes Mainstream,”more than three million new users purchased from Robinhood Crypto in January, with more than 2.9 million new users having bought crypto during February so far. As such, Robinhood Crypto’s user base has…

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Grammy-winning producer Illmind auctions rights to new samples as NFT

The innovative NFT includes a special link that is accessible only by its owner, conferring rights to use audio files for their own purposes. NFTs are being used to explore a new business model that puts music makers back in control of sales and copyright issues. Grammy winning producer Illmind released what he calls the “first ever NFT-backed sample loop/melody pack” on Feb. 25, putting a collection of 10 “melody compositions” up for auction on the Mintable NFT market app. Based on Ethereum, the NFT is titled “ALORIUM” and contains…

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Berkshire Hathaway’s Charlie Munger Advises Investors to Never Buy Bitcoin or Gold

Berkshire Hathaway’s vice chairman and Warren Buffett’s long-time business partner, Charlie Munger, has advised investors not to buy bitcoin or gold. He believes the cryptocurrency is too volatile to serve well as a medium of exchange. Munger also says he doesn’t know which is worse between Elon Musk’s Tesla reaching $1 trillion in market cap or bitcoin hitting $50,000. Billionaire Investor Charlie Munger Thinks Bitcoin Is Too Volatile to Be a Good Medium of Exchange Legendary investor Charlie Munger answered some questions about bitcoin at the annual meeting of shareholders…

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Simplex and Skrill Broaden Cryptocurrency Convenience by Launching New Onramp Solutions

As enthusiasm for cryptocurrency mounts amid strong demand from retail and institutional investors, financial service providers Simplex and Skrill are building more inroads into the ecosystem, focusing on improving transactability and convenience. The digital payment services continue to expand the accessibility of the cryptocurrency landscape by backing direct token withdrawals and support for in-browser wallets. Expanded In-Browser Wallet Capabilities Simplex is partnering with privacy-oriented web browser Opera to provide cryptocurrency support for its in-browser wallet. The wallet will grant Opera users an easy onramp and offramp convert from fiat-to-crypto and…

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Focus on DeFi ‘fairness’ benefits Holochain, Orion Protocol and Dodo

Building real-world solutions that address scalability, data privacy and high Ethereum fees are adding value to Holochain, Orion Protocol and Dodo. Bitcoin’s (BTC) strong bull run and the immense popularity of the decentralized finance space have attracted several new investors to cryptocurrencies. A report from Crypto.com shows a massive increase in crypto users as the figure rose from 66 million in May 2020 to 106 million by January this year.  Crypto market data daily view. Source: Coin360 Contrary to the popular notion that new crypto users are mostly speculating on…

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Polkadot could introduce ‘common good’ parachains with DOT-based smart contracts

Polkadot is likely to offload many of its core features to special-purpose public parachains. As Polkadot gets ready to launch parachain auctions, a combined fundraising and market interest discovery mechanism, the team is realizing that some core features may be ill-suited for the auction mechanism. Polkadot parachains are somewhat analogous to the sharding proposal for Ethereum 2.0. Each parachain is a largely independent blockchain built for a particular purpose. Many projects building on Polkadot — like Moonbeam, Equilibrium and Acala — are developing their own parachains where the project’s tokens…

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