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Coinbase to roll out ‘Moving America Forward’ national campaign for crypto
The ads will emphasize the financial innovations facilitated via crypto and raise awareness for Coinbase events and lobbying efforts.
United States crypto exchange Coinbase is rolling out another national ad campaign in America focusing on the “critical” role that crypto will play in modernizing the global financial system.
In a May 22 blog post, the firm outlined its plan for its new “Moving America Forward” campaign, which will kick off via a series of four different advertisements featuring Coinbase CEO Brian Armstrong. These will mostly air during “popular Sunday shows” on U.S. TV, with some also appearing during ad breaks of the NBA Finals series.
“Coinbase is launching Crypto: Moving America Forward, a national campaign to explain crypto’s critical role as an underlying technology that will update the global financial system,” the firm noted.
The campaign will also focus on overseas adoption of crypto and blockchain in countries like China, as the firm aims to highlight that the U.S. “global economic leadership and national security are at risk if the U.S. cedes its role in building technology that will be central to the world’s financial infrastructure.”
The ads are titled The History of Money Initiative, Stand With Crypto Day, Real People Using Crypto for Real Needs, and The State of Crypto Summit, with each one premiering over the course of four separate weeks. Read More
No, MetaMask Will Not Withhold Your Crypto for Taxes
"Legal terminology can be complex," the company admitted but called the claim false and inaccurate.
ConsenSys, the makers of the popular MetaMask browser-based crypto wallet, called out "tweets circulating with inaccurate information about ConsenSys' terms of service," asserting for the record that "MetaMask does not collect taxes on crypto transactions and we have not made any changes to our terms to do so."
"The tax section in our terms of service falls under the 'fees and payment' section, and it exclusively pertains to products and paid plans offered by ConsenSys," the company explained. "Legal terminology can be complex, but it's crucial to emphasize that this section does not apply to MetaMask or any other products that don't involve sales tax."
The company was responding to a number of Twitter posts that highlighted section 4.2 of the MetaMask terms of use, describing it as a change that will allow the company to withhold taxes. The claim quickly spread to r/CryptoCurrency on Reddit, where it has already amassed 450 upvotes and over 500 comments, to several crypto news sites, and to YouTube. Read More
Ripple CEO: 'Confusing' US Crypto Rules Benefiting Europe
The United States’ confusing crypto regulations have forced firms like Ripple to consider investing outside the country, and Europe has been a “significant beneficiary” of this confusion, Brad Garlinghouse has said. The Ripple CEO suggested that the United States needs to emulate countries like the United Kingdom and Singapore which have clarified how they want to regulate crypto.
Crypto Firms Seek to Limit Exposure to US Clients and Companies
According to Brad Garlinghouse, the CEO of the blockchain firm Ripple, Europe has been “a significant beneficiary” of the confusion in the United States’ crypto industry sparked by the Securities and Exchange Commission (SEC). The confusion has in turn forced crypto firms to invest outside the U.S.
In an interview with CNBC, Garlinghouse, whose firm acquired Swiss crypto startup Metaco on May 17, warned that the SEC’s crackdown means his company will attempt to limit its dealings with U.S. companies and citizens. Read More
Crypto Will Be Regulated the Same As Gambling, if UK Parliament Gets Its Way – Here’s Why
The UK Parliament’s Treasury Committee says cryptocurrencies such as Bitcoin (BTC) pose similar risks to consumers as gambling and should be regulated as such.
In a House of Commons Committee report, the UK Parliament says that given the volatile nature of cryptocurrencies, trading of the new asset class is akin to engaging in gambling activities.
“Regardless of the regulatory regime, their price volatility and absence of intrinsic value means that unbacked crypto assets will inevitably pose significant risks to consumers. Furthermore, consumer speculation in unbacked crypto assets more closely resembles gambling than it does a financial service.”
The Parliament also urges the government to regulate crypto trading as a form of gambling rather than as a financial service consistent with the principle of “same risk, same regulatory outcome.” Read More
We have a lot to be grateful for within Markethive. It’s like stepping out of the rat race into an oasis of humanity at its best. As an inbound marketing, business-based blockchain platform with an inherent entrepreneurial spirit, we have all the tools to get our message out to the whole world. We have a social media interface with a collaborative ethos rarely experienced on legacy social media.
We are starting to see new integrations in the blogging section in preparation for the customized, more intuitive interface and dashboard of Markethive and, of course, the Markethive Wallet that will facilitate the Merchant accounts for members as well as personal transactions, the Vault, etc.
The new-look Blogcasting Hub is located at the top of all blogs in the system. Blogcasting is a term introduced by Markethive and is an enhanced broadcasting system. In the traditional broadcasting sense, only the people who physically subscribe to your blog or newsletter are usually notified of your updates via email.
With this blogcasting system, your social networks are informed of your blog as and when you publish them. What this means is the potential reach is into the millions. Read More
Polygon(Matic) to Slash zkEVM Transaction Fees by 20%
Polygon, the scalable Ethereum layer-2 solution, has announced its intent to optimize its zkEVM (Zero-Knowledge Ethereum Virtual Machine) in the coming weeks. These enhancements are predicted to decrease transaction fees by around 20%, according to the company's official Twitter account. Interestingly, these improvements will be achieved without the need for any data compression techniques.
Transaction fees within the Polygon zkEVM serve to cover the costs associated with data availability and posting proof to the Ethereum network. Each transaction that gets processed requires the publication of state data. Additionally, fees cover the operational costs of running the servers that generate the proofs. Currently, around 80% of a transaction fee is dedicated to data availability, a resource that is not currently being compressed.
In a roadmap soon to be released, Polygon will detail upcoming upgrades on data compression, as well as the Ethereum Improvement Proposal (EIP) 4844. These developments are expected to improve the efficiency and cost-effectiveness of transactions on the platform. Read More
Ledger key recovery service paused amid backlash, will open-source code
Ledger CEO Pascal Gauthier says the past week has been a “humbling experience” and apologized for the firm’s “miscommunication.”
Hardware wallet company Ledger is postponing the launch of Ledger Recover following an intense week of criticism from the crypto community.
In a May 23 Twitter Spaces joined by over 13,000 users, Ledger chairman and CEO Pascal Gauthier said it has been a “humbling experience” and a hard lesson in communication:
“This experience has been very humbling. We miscommunicated on the launch of this product; it was not our intention to take people by surprise. So because of that, we understand the community’s direction and apologize for the miscommunication.”
Gauthier revealed that in response to concerns, the firm would be accelerating its plans to open-source more of its codebase. It will start with core components of its operating system and Ledger Recover, which he stated: “won’t be released until this work is complete.” Read More
NFT marketplace enables cross-chain purchases on multiple networks
Nonfungible token marketplace NFTrade now supports cross-chain purchases on Ethereum, Polygon, Avalanche and BNB Chain.
A new feature on nonfungible token marketplace NFTrade allows collectors to purchase items on one network while paying on a separate one. The feature was created through an integration with cross-chain messaging protocol Rarimo, according to a May 23 announcement.
The cross-chain purchases with NFTrade work on Ethereum, Polygon, Avalanche and BNB Chain. For example, if users want to buy an item on Avalanche, they can pay with a currency from any of the other three networks. The protocol will automatically swap the buyer’s tokens on the sending chain for the token the seller wants on the receiving chain, allowing it to then pay the seller and release the NFT to the buyer. This entire process is done in a decentralized way, and at no point does the developer take custody of the buyer’s funds, the announcement stated.
The feature is also integrated with Circle’s Cross-Chain Transfer Protocol (CCTP), which allows buyers who pay with USD Coin to burn their tokens on one chain and have them be re-minted on another chain. Read More
Solana Integrates ChatGPT Plug-In, Launches AI Accelerator
The Solana Foundation has announced the official integration of a ChatGPT plug-in developed by Solana Labs, marking the official integration of AI into its network.
The announcement comes as the artificial intelligence (AI) space has seen interest from crypto players, big and small, increase in recent months.
According to the Solana Foundation, the open-source reference implementation allows users to interact with the Solana network directly from ChatGPT through a plug-in. The plug-in is available for download on GitHub. Solana Labs first revealed the new plug-in in a teaser in Late April and will be targeted towards end users during its initial phase, helping them onboard into the growing Web 3.0 ecosystem. It can also be used to purchase and list NFTs, find NFT collections by floor price, check out transactions, and transfer tokens. The Solana Foundation, in a statement, said,
“This integration from Solana Labs serves as a reference for how AI can make it easier to understand Solana data and protocols or surface data about Solana’s computing infrastructure and DeFi projects.”
Solana Labs CEO and Solana Co-founder Anatoly Yakovenko added that AI integration would help in making the Solana blockchain more understandable and usable. Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
