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Signal tests payments in the UK using MobileCoin

Encrypted chat app Signal is adding payments to the services it provides, a long-expected move and one the company is taking its time on. A U.K.-only beta program will allow users to trade the cryptocurrency MobileCoin quickly, easily, and most importantly, privately.
If you’re in the U.K., or have some way to appear to be, you’ll notice a new Signal Payments feature in the app when you update. All you need to do to use it is link a MobileCoin wallet after you buy some on the cryptocurrency exchange FTX, the only one that lists …

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Coinbase’s monster Q1 in context

The crypto company just crushed the first three months of 2021

Alex Wilhelm

14 hours

In the first quarter of 2021, American consumer cryptocurrency trading giant Coinbase grew sharply, generating strong profits at the same time.
For Coinbase, the disclosure of its preliminary Q1 2021 results comes a week ahead of its direct listing, an event that will see the company begin to trade publicly. As it is both cash rich and well known, Coinbase is foregoing a traditional IPO in favor of the more exotic method of going public.
In its release, Coinbase disclosed the following metrics, which TechCrunch has compared to metrics …

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Coinbase to direct list on April 14th, provide financial update on April 6th

Today Coinbase, an American cryptocurrency trading platform and software company, said that it will begin to trade via a direct listing on April 14th. In a separate release the company also said that it will provide a financial update on April 6th, after the close of trading.
Coinbase’s impending public debut comes at an interesting market moment. As some tech companies delay their offerings over demand concerns, Coinbase is pushing ahead with its flotation perhaps in part because it will not price its debut in the traditional sense; direct listings forgo raising capital at a specific price point, and …

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The Weeknd will sell an unreleased song and visual art via NFT auction

Abel Tesfaye, the Super Bowl-headlining musician known as The Weeknd, is the latest artist to embrace the excitement around NFTs (non-fungible tokens).
Specifically, he’s teaming up with Nifty Gateway, the same marketplace that worked with Beeple to auction off a piece of digital art for $6.6 million earlier this year (a very impressive number, though quickly overshadowed by the $69 million that another Beeple piece sold for through Christie’s).
The Weeknd and Nifty Gateway will be holding a sale on Saturday with two main components, both of them involving a previously unreleased song — which will not be available on any …

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Visa supports transaction settlement with USDC stablecoin

Payment card network Visa has announced that transactions can be settled using USD Coin (USDC), a stablecoin powered by the Ethereum blockchain. Crypto.com is the first company to test the new capability with its own Visa-branded cards.
USDC is a stablecoin co-founded by Circle and Coinbase and managed the Centre consortium. As the name suggests, USDC is a cryptocurrency that follows the value of USD. One USDC is always worth one USD — hence the name stablecoin.
In order to make sure that the value of USDC remains stable, USDC partners keep USD on bank accounts every time they issue …

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The debate about cryptocurrency and energy consumption

Energy consumption has become the latest flashpoint for cryptocurrency. Critics decry it as an energy hog while proponents hail it for being less intensive than the current global economy. 
One such critic, DigiEconomist founder Alex de Vries, said he’s “never seen anything that is as inefficient as bitcoin.” 
On the other side of the debate, research by ARK Investment Management found the Bitcoin ecosystem consumes less than 10% of the energy required for the traditional banking system. While it’s true the banking system serves far more people, cryptocurrency is still maturing and, like any industry, the early infrastructure stage …

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Daily Crunch: NFT artwork sells for $69M

The artist Beeple scores a huge NFT sale, Twitter Spaces are coming soon and Seth Rogen’s weed startup launches in the U.S. This is your Daily Crunch for March 11, 2021.
The big story: NFT artwork sells for $69M
For the first time, auction house Christie sold a digital-only artwork: “Everydays — The First 5000 Days,” a collage of several years of sketches from the artist Mike Winkelmann, who’s known online as Beeple.
Yes, it’s another one of those NFT (non-fungible token) sales you’ve been hearing so much about for the past few weeks. And this one came with …

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Daily Crunch: PayPal acquires Curv

PayPal acquires a cryptocurrency startup, Apple discontinues the iMac Pro and McAfee sells its enterprise business. This is your Daily Crunch for March 8, 2021.
The big story: PayPal acquires Curv
This deal will grow PayPal’s cryptocurrency team by bringing on Curv, a startup working with exchanges, brokers and over-the-counter desks to help their users store crypto assets securely and access their wallets without requiring additional hardware.
The larger company already supports the buying and selling of cryptocurrencies, and it says it plans to launch new crypto-related products in other countries and in Venmo. Calcalist was the first to report the …

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