“Musk tweeted a broken heart with the bitcoin logo and a picture showing a couple in the midst of a breakup. The crypto community took it as a sign of the billionaire distancing himself from bitcoin, leading to price losses.
The pullback poured cold water over the optimism generated by the symmetrical-triangle breakout confirmed on Thursday.”
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“The Monetary Authority of Singapore (MAS) has received over 300 requests for payments and crypto exchange licences, including applications from Alibaba and Google.
The MAS is working out how to speed up the application process. Firms that have applied but are still awaiting approval may continue offering specific payment services while their application is processed.”
“The sluggish economy reported could mean the U.S. Federal Reserve moves more slowly toward tapering its $120 billion in monthly bond purchases, which would be a positive development for cryptocurrency holders.
The U.S. revised April’s jobs number up to 278,000, after a long month of economists debating about how the economy only added 266,000 jobs our of an estimated 1 million in April.”
“Sotheby’s, the 277-year-old British auction house, announced Friday it is claiming its stake in the metaverse with the launch of its very own virtual gallery. The auction house has chosen the social platform Decentraland as its destination for artists, collectors and viewers to engage.
Sotheby’s virtual site imitates the London building and features five ground-level gallery spaces and an avatar of Sotheby’s London Commissionaire Hans Lomulder, who will be positioned at the entrance of the auction house to greet visitors.
We see spaces like Decentraland as the next frontier for digital art where artists, collectors and viewers alike can engage with one another from anywhere in the world.
In May, Sotheby’s announced it has started accepting cryptocurrency as payment for artworks.”
“Tax will be required when total balances held with foreign virtual-asset businesses exceed 500 million won (US$450,000) at the end of each month. Violation will be met with fines of 10%-20% of the amount not reported or underreported.”
See Also: Part 2 (Video)
“The deal is the largest in esports history. TSM will be known as “TSM FTX.”
The organization plans to expand into new platforms such as mobile, and open offices in Asia, Europe and South America. It will also distribute crypto to its players and employees as well as purchasing $1 million worth of FTX’s native token FTT.
Founded in 2009, TSM FTX says it is the world’s most valuable esports organization and fields players in League of Legends, Fortnite, Super Smash Bros and Tom Clancy’s Rainbow Six Siege, among others.”
“Dorsey, who is Square’s CEO, said he is open to feedback and will continue the conversation around developing a hardware wallet. Dorsey said there are plans to integrate the wallet with Square’s Cash App.
If we do it, we would build it entirely in the open, from software to hardware design, and in collaboration with the community.”
“The new blockchain can document proof of digital assets, monitor infringement activities, collect evidence online, issue notices to remove piracy products and help courts settle copyright-related disputes and process lawsuits.
The blockchain is great for digital copyright protection given its technical features such as immutability, source-tracing ability and distributed consensus.
China’s Supreme People’s Court recognized evidence authenticated by blockchain and considered it legally binding in September 2018.”