Author: instant-news

Ark Invest CEO Cathie Wood revealed she would vote for former President Trump over President Biden in the November presidential election. Her decision is based on who she believes would be best for the country’s economy, she said. Wood disclosed her choice over the weekend during an interview with YouTuber Kevin Paffrath, when he asked her to choose between Trump and Biden. She said she had discussed the election with her children, telling them her vote would go to the candidate who best supports the US economy. “I am a voter when it comes to economics, and on that basis…

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Bitcoin mining firm Hut 8 said it will receive $150 million through convertible notes from Coatue Management, with plans to use the funding to build an artificial intelligence infrastructure platform. The investment will be used to address a critical gap in the market: the surging demand for AI computing capacity. Many traditional data centre operators are increasingly unable to meet this demand due to a variety of challenges, including power shortages. There are also lengthy lead times to bring new capacity online, and the need for extensive upgrades to support the latest high-density computing technologies. Convertible Notes Are a Popular Financing Tool…

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Genesis Digital Assets (GDA) is reportedly exploring an initial public offering in the US amid the crypto industry’s resurgence. Bloomberg reported Tuesday that the crypto miner, backed by Sam Bankman-Fried’s former hedge fund Alameda, is collaborating with advisors to evaluate the potential listing. The company reportedly intends to initiate a pre-IPO funding round in the upcoming weeks. Discussions are ongoing, and the specifics of the fundraising strategy may still change. A GDA spokesperson declined to comment on the potential IPO when contacted. Fueled by the recent crypto market recovery, several crypto companies are exploring going public through IPOs. However, their path isn’t…

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The Conservatives were never expected to win the UK’s general election — with polls rightly predicting all along that Labour would return to power after 14 years. Nonetheless, it was a dramatic and significant night for British politics, with the Tories suffering their worst defeat ever and losing an eye-watering 250 seats. Source: UK Parliament Meanwhile, Sir Keir Starmer — the new prime minister — has secured a massive majority, winning 412 of the 650 seats that were up for grabs. Inevitably, the attention now turns to what this would mean for crypto in the world’s sixth-largest economy. In short, the answer is…

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The United States Attorney for the Southern District of New York, has charges three UK-nationals, for their involvement wire fraud and money laundering, linked to the “Evolved Apes” non-fungible token (NFT) scam. Announced Thursday, the court charged Mohamed-Amin Atcha, Mohamed Rilaz Waleedh, And Daood Hassan, involved in a rugpull. They allegedly defrauded victims to purchase NFTs. “Evolved Apes” collection of NFTs on the OpenSea marketplace had 10,000 digital collectibles, which promised developing a highly-profitable videogame. However the creation of a videogame was a scam, which never made any profits. The perpetrators quickly shut down the project’s website and kept the funds without…

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With the ‘Virtual Asset User Protection Act‘ set to take effect on July 19, the Financial Services Commission (FSC) has issued new guidelines detailing when non-fungible tokens (NFTs) should be considered virtual assets. Under the new guidelines, general NFTs traded for content collection purposes will remain outside the scope of virtual assets. However, NFTs exhibiting characteristics akin to virtual assets will be subject to the same regulations. Businesses issuing such NFTs must report their operations to authorities as virtual asset businesses, local outlet News1 reported earlier today. What Qualifies NFT As Virtual Asset? Key criteria for NFTs to be classified as virtual…

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At Consensus 2024 in Austin, Texas, Cryptonews’s Matt Zahab sat down with Justin Melillo, CEO and founder of Mona, for an in-depth discussion about the platform’s mission, its support for creators, recent achievements, and future trends in the digital art space, especially the metaverse. Mona was Founded in 2021; it is a platform designed to accelerate the growth of the open metaverse. It provides tools and protocols that enable creators and developers to thrive. Melillo, who has a rich background in 3D animation and visual effects, created Mona to address the lack of support for 3D artists’ tokenization and sharing of their work. Mona’s Mission…

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Several South Korean retailers including Lotte and Hyundai are shutting down their non-fungible token (NFT) operations “one after the other” in a major blow to the sector. Per Herald Kyungjae, Lotte Home Shopping, the e-commerce arm of the retail giant Lotte, is closing down its NFT trading platform. Large South Korean Retailers Close Door on NFTs Lotte launched the NFT Shop platform just over two years ago, in May 2022. The firm announced on June 12, that it will end its NFT shop “services” on July 2. Customers could access the trading platform via the Lotte Home Shopping mobile app. The…

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Konami Digital Entertainment, the renowned Japanese game developer and publisher, has joined forces with the Avalanche blockchain to introduce a new non-fungible token (NFT) solution called “Resella.” This collaboration aims to revolutionize Web3 services by offering a streamlined platform for companies and organizations seeking to incorporate blockchain technology into their operations, according to a report from Venture Beat. The Resella NFT platform is designed to simplify the entire process of creating, issuing, and trading NFTs. It aims to eliminate the complexities associated with external Web3 wallets and intricate cryptocurrency transactions, making it more accessible for newcomers to engage with blockchain technology.…

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Well-known non-fungible token (NFT) collector Pranksy has voiced optimism about the future of NFTs, countering a growing narrative of their decline. Pranksy, an early NFT investor who has built a large following and collection, asked his X followers in a recent post about the last time they purchased an NFT. The post has received nearly 118k views and more than 500 replies, prompting Pranksy to state that the NFT space is still living and breathing. “500 genuine replies, there is life in the old girl yet,” he wrote in reply to the initial post, implying that the NFT space is…

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