Behind crypto’s failed bid for the US Constitution

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Recently, a consortium of crypto investors, ConstitutionDAO, pooled in Ether worth $47 million to buy a first edition of the US Constitution at an auction. They lost, but the effort has brought an application of blockchains and cryptocurrencies to the fore: DAOs.  Here’s  what  it  means: What are DAOs for dummies? Decentralized Autonomous Organization (DAO) is built using smart contracts, a … Read more

Failed crypto company collapses owing $21m

Failed crypto company collapses owing $21m

“It’s a business decision for existing directors that it’s in the best interest of creditors and shareholders to wind up the company. I abstained from all decision making after my appointment as I didn’t have enough visibility to make informed decisions,” Mr Lee said.News of the Supreme Court stoush between Mr Jin Chen, Allan Guo … Read more

Banks Tried to Kill Crypto and Failed. Now They’re Embracing It (Slowly).

Banks Tried to Kill Crypto and Failed. Now They’re Embracing It (Slowly).

Just as it does for stock and bond prices, Goldman recently began posting digital asset prices on its Marquee platform for big clients like hedge funds, preparing for a time when the bank might be able to support trading in cryptocurrencies.In 2019, a unit of JPMorgan called Onyx introduced JPM Coin, a digital currency backed … Read more

Why the SEC’s green light for Bitcoin ETFs failed to reassure Charles Schwab & Co. that it can make crypto trading available to its 32.5 million retail accounts

Why the SEC's green light for Bitcoin ETFs failed to reassure Charles Schwab & Co. that it can make crypto trading available to its 32.5 million retail accounts

The $7.6 trillion in administered assets giant sees mixed signals from regulators who are drawing lines as it goes along — treacherous regulatory conditions for a big company not built to shift course at a whimBrooke’s Note: Cryptocurrency is surely having it’s moment in the sun but it’s still all immersed in an air of radical … Read more