Jack Dorsey’s Square to Invest More in Bitcoin Mining and Shut Decentralized ‘Web5’ Venture
The company’s shares fell after reporting third quarter sales that missed estimates by 4%.Source
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Detroiters Will Be Able to Pay Their Taxes in Crypto Next Year Using PayPal
Detroiters will soon be able to pay their taxes and other city fees with crypto through PayPal, according to a Thursday announcement from Detroit’s Office of the Treasury.Source
Intense Competition — Not Technology — Will Fuel Blockchain’s Rise to Dominance
Like the internet itself, decentralized networks aren’t always the most efficient tools for some tasks. However, the open, permissionless nature of these networks creates intense competition that often serves customers better than technical efficiency alone, says EY’s Paul Brody.Source
In Win for Polygon’s AggLayer, Magic Labs Unveils Chain Unification Network ‘Newton’
Newton will allow for wallet solutions to plug into the AggLayer, which is a Polygon-backed effort to connect affiliated chains and allow tokens to freely move between them. Magic Labs claims its the first dedicated network for wallet solutions and chain unification.Source
Fed Cuts Rates by 25 Basis Points, Bitcoin Price at Record as Powell Says Trump Win Has ‘No Effect’ on Policy
Fed Chair Jerome Powell’s speech later today could shake up markets as he will face questions about the central bank’s outlook on monetary policy and inflation after Donald Trump’s decisive win of the U.S. presidential election.Source
Post-Election Déjà Vu: Bitcoin Spikes to a New Record High, While Ether and Solana Rally Ahead of FOMC
Bitcoin just made a new all-time high, but ether is the real winner here.Source
Here’s How Quickly Gary Gensler Could Lose His SEC Chair Gig Under Trump
With the crypto-friendly Donald Trump being elected president, industry leaders are now awaiting his first big move, which could be appointing a new chair of the U.S. Securities and Exchange Commission.Source
We’ve Been Thinking About Blockchains Wrong. They’re About Time, Not Money
There is almost no limit to the things we can build if we understand what blockchains are really for, says Ethereum researcher Vlad Zamfir.Source