Xbox Head Hesitant on NFTs

Key Takeaways Microsoft head of gaming Phil Spencer has criticized NFTs, calling many collectible crypto tokens “exploitive.” Though he does not feel this way about all NFTs, he is hesitant to allow them in the Xbox store at present. Microsoft has previously used blockchain for Xbox royalties and polled users about accepting crypto as payment. Share this article Microsoft head of gaming Phil Spencer has commented on non-fungible tokens and their role in video game marketplaces. Xbox Head Comments on NFTs In an interview with Axios, Spencer said that he…

First Mover Asia: Altcoins Surge as Bitcoin, Ether Stall

Good morning, Here’s what’s happening this morning: Market Moves: Crypto.com’s CRO token moons on deal with Los Angeles’ Staples Center, as bitcoin stalls. Technician’s Take: The long-term uptrend remains intact despite slowing price momentum. Catch the latest episodes of CoinDesk TV for insightful interviews with crypto industry leaders and analysis. Prices Bitcoin (BTC): $58,838 -1% Ether (ETH): $4,226 -.49% Market moves Bitcoin and ether, the two largest cryptocurrencies by market capitalization, were afterthoughts on Wednesday as a handful of alternative coins turned heads in digital-asset markets. The day’s big story…

Opulous (OPUL) rallies 785% as fans dig the sound of NFTs in the music industry

There is potential for the use cases of nonfungible token (NFT) technology to expand far beyond the simple tracking of unique images with varying degrees of rareness and analysts project that one NFTs will touch every facet of our lives. Already, developers, artists and corporations are considering the tokenization of all assets and some have already experimented with NFT-based concert tickets and sports passes.  One NFT project that has been gaining traction since September is Opulous (OPUL), a protocol focused on the tokenization of the music industry. The project claims…

ConstitutionDAO Raises $27M on Eve of Sotheby’s Auction. $PEOPLE Could Be the Reason

However, the real-world identities of multiple members of the DAO’s brain trust – roughly three-dozen individuals – are known, and now an actual LLC will be placing the bid on behalf of the DAO to comply with Sotheby’s know-your-customer (KYC) requirements. Additionally, fractionalization could lead to an unusually easy-to-pursue securities enforcement action from the Securities and Exchange Commission (SEC), per early discussions in the DAO’s Discord. Source link

Solana-Based Sports Betting Protocol BetDEX Closes $21M Seed Funding Round

BetDEX has raised a $21 million seed round to create a decentralized global sports betting protocol. In the announcement Wednesday, the Edinburgh-base BetDEX called the raise the “largest-ever seed investment round by a U.K. startup.” The crypto derivatives exchange giant FTX and San Francisco-based crypto venture firm Paradigm led the round, which also included participation from Lightspeed Venture Partners, Sino Global Capital and Solana Ventures. Scotland-based BetDEX is building its protocol on the Solana blockchain with hopes of becoming “a global clearinghouse for sports wagering,” according to a blog post.…

U.S. is not moving fast enough to develop a CBDC, says former CFTC chair

Tim Massad, who served as chair of the Commodity Futures Trading Commission until 2017, said the United States is too slow in developing a plan to modernize its payment systems. In a Wednesday hearing of the Joint Economic Committee on the role of digital assets in government, Massad said a central bank digital currency, or CBDC, could be one solution for the United States to improve its existing payments systems, which he referred to as “slow” and “expensive.” In addition, the former CFTC chair said while stablecoins could be used…

Bitcoin Holding Support at $60K; Could Face Resistance at $63K-$65K

Bitcoin (BTC) is stabilizing around the $60,000 support level after declining about 15% from an all-time high near $69,000. The cryptocurrency is roughly flat over the past 24 hours and could see further upside toward the $63,000-$65,000 resistance zone. Both the 50-day and 100-day moving averages are sloping upward, indicating a positive intermediate-term trend. This means buyers could remain active on pullbacks given strong price support above $53,000. For now, the relative strength index (RSI) on the daily chart is below a neutral reading of 50, which means a period…

Here’s why bears hope to pin Bitcoin under $60K ahead of Friday’s $1.1B options expiry

Bitcoin (BTC) bulls were euphoric when the price soared to $69,000 on Nov. 10 because the 14.5% gain accumulated over five days meant they were in for a $715 million profit on Friday’s options expiry. However, the 9% negative price move on Nov. 16 caught bulls by surprise, especially since most of the call (buy) options for Friday have been placed at $66,000 or higher. Curiously, that price level has been the exception rather than the norm. Bitcoin/USD price on FTX. Source: TradingView Bears might have been lucky because the…

EOS Community Wants to “Delete” Block.one’s Tokens Worth $196M

Key Takeaways A new debate in the EOS community has emerged over B1’s share of the EOS token supply. Community-backed EOS Network Foundation (ENF) has raised concerns over the 45 million tokens that B1 controls. The CEO of ENF, Yves La Rose, said the community could attempt to remove B1’s vesting code. Share this article A group representing the EOS community wants to delete vested tokens held by Block.one, claiming the team failed to deliver on promises. EOS Network Foundation Goes to War Against B1 The ongoing battle between EOS…

Bitcoin Pullback Pauses as Traders Reduce Leverage

Separately, in the bitcoin options market, open interest (contracts that have been traded but not yet liquidated by an offsetting trade) is near all-time highs last seen during March and April, which preceded a significant price drop. It is possible that open interest can remain around current levels for another month before a sustained downturn in BTC’s price. Source link