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☆ Bitcoin halving: Crypto traders await quadrennial event
▼ + stars: | 2024-04-18 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

Put simply, the halving is an automatic 50% reduction in the number of bitcoin entering circulation. “Guessing the endgame for Bitcoin after each halving is the ultimate sport,” said Antoni Trenchev, co-founder of crypto lender Nexo, in a statement. Miners are essentially auditors on the bitcoin blockchain, using powerful supercomputers to validate transactions and getting paid for their work in bitcoin. While long-term sentiments on bitcoin are bullish among the crypto faithful, the psychology around an event like the halving is hard to predict and can create volatility that’s extreme even by crypto standards. “It wouldn’t be surprising to see the price of bitcoin increase significantly over the next two years.”

Persons: CNN Business ’, it’s, ”, Antoni Trenchev, Gareth Rhodes, Molly White, John Sedunov, Jamie Dimon, JPMorgan Chase, Greg Beard, there’s, ” Beard Organizations: CNN Business, New York CNN, United, Miners, Villanova University, JPMorgan, Mining Locations: New York, United States, Asia, bitcoin

☆ Sam Bankman Fried Exposed the Fragility of Crypto - The New York Times
▼ + stars: | 2023-11-08 | by ( Molly White | ) www.nytimes.com time to read: +3 min

In early 2019, FTX’s token, FTT, was conjured out of thin air as Mr. Bankman-Fried launched FTX from the same Hong Kong office where he ran Alameda Research. The FTT token initially sold to the public for around $1, but as cryptocurrency boomed into 2021, the token skyrocketed to $10, doubled again to $20 within a month of that and eventually peaked above $75. The bulk of them remained with FTX or Alameda Research. A trader might have reasonably agreed to buy a small amount of FTT tokens for the market price listed on an exchange. Other cryptocurrency firms that were overexposed to FTX or Alameda Research went bankrupt, in turn leaving their own customers and investors in the lurch.

Persons: Fried, FTX Organizations: Hong, Alameda Research, Alameda, Binance Locations: Hong Kong, Alameda, U.S, United States, FTX

☆ Snoop Dogg, his ape and a question of celebrity hype
▼ + stars: | 2023-04-07 | by ( Elle Reeve | ) edition.cnn.com time to read: +11 min

The Bored Apes became some of the most famous NFTs after a series of celebrities said they got one. The Bored Ape crazeSnoop Dogg performs with his Bored Ape character, Dr. Bombay, in February 2023. He sold his versions as RR/BAYC with an accompanying website that detailed claims the Bored Apes contained references to racist memes on 4chan, a troll website. In March 2022, Snoop invested in Yuga Labs, and the month after, he invested in MoonPay. In the VMAs video, Eminem turns into a white ape wearing “hip hop clothes,” while Snoop becomes a cheetah-fur ape wearing a “pimp coat,” according to Yuga Labs’ description.

Bored Ape Yacht Club was not the biggest crypto phenomenon, but it was one of the top beneficiaries of celebrity hype. The Bored Apes — a computer-generated collection of 10,000 cartoons — were being presented as a status symbol, membership in an exclusive club. Yuga sued Ripps for trademark infringement, and argues that his maligning of the Yuga apes is nothing more than a profiteering tactic. Hickman, who is Black, thought the Bored Apes looked like stereotypical portrayals of Black people as stupid or lazy. He said he thought this would be obvious to most people the second they saw an image of a Bored Ape.

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☆ California has been hammered with rain. It may not be enough to reverse its drought.
▼ + stars: | 2023-01-12 | by ( Evan Bush | Evan Bush Is A Science Reporter For Nbc News. He Can Be Reached At Evan.Bush Nbcuni.Com. | ) www.nbcnews.com time to read: +6 min

California counts on a system of about 1,400 human-made surface reservoirs and thousands upon thousands of miles of levees to manage surface water. During the recent storms, extreme drought has buffered some impacts of intense rainfall with plenty of space in the state’s largest reservoirs, which have withered under drought. Before the series of atmospheric rivers, it was storing less than 1 million acre-feet of water. In the Central Valley, Californians extract about 2 million acre-feet more than what returns to the ground, on average, every year, Lund said. California legislators in 2014 passed the Sustainable Groundwater Management Act, which requires local agencies to reach groundwater sustainability by 2042.

☆ After FTX's collapse, VCs across industries are finally admitting to crypto's failures — and they're preparing for 'more blows to come'
▼ + stars: | 2022-11-14 | by ( April Joyner | ) www.businessinsider.com time to read: +8 min

Investors stuck to crypto startups they considered "safe bets," but FTX's failure challenges that idea. Crypto startups held yacht parties through the summer and into early fall at events such as NFT.NYC and Messari Mainnet. "The whole crypto space is a high-leverage space, and it's susceptible to cascading failures." The events of the past week are unlikely to whet risk-averse LPs' appetite for crypto, investors told Insider. Even so, several investors who have backed crypto startups told Insider that despite the industry's recent travails, they remain believers in the technology.

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