New York news-Page 8
Navigating CityCoins: Miami citizens to earn Bitcoin despite the city not holding crypto
Miami is quickly becoming the crypto capital of the United States. In August of this year, the Magic City was the first state in the U.S. to launch MiamiCoin (MIA), its very own cryptocurrency used for civic engagement. A few months later, Mayor Francis Suarez announced that every Miami resident with a digital wallet will be eligible to receive a Bitcoin dividend. While such a proposal would make Miami the first city in America to provide a Bitcoin (BTC) yield to its residents, Mayor Suarez told Cointelegraph that the City of Miami does not actually own or hold MiamiCoin, or …
Decentralization / Nov. 17, 2021
Law Decoded: Crypto cities, investor protection nation, Nov. 8–15
As the U.S. federal government — acting through its Securities and Exchange Commission — continues to valiantly protect investors and the public interest from the grave dangers of a spot Bitcoin exchange-traded fund, one major American city after another begin embracing or at least exploring the potential of crypto and blockchain technology to improve various aspects of city finance, administration and residents’ monetary well-being. Following the lead of Miami, New York, Tampa and Jackson, Tennessee, it is now Philadelphia that is looking into the ways to implement blockchain solutions in city government. The hope is that a series of city …
Regulation / Nov. 15, 2021
What can Eric Adams do? The limits of turning New York City into a crypto hub
Despite his actual term at the helm of the New York City government kicking off some 1.5 months from now, Eric Adams, the city’s mayor-elect, has already started governing by publicity. Making the Empire City more business and tech-friendly is a centerpiece of Adams’ vocally projected agenda, and — much to the crypto community’s delight — the incoming mayor has made a point to repeatedly declare his support for all things Bitcoin (BTC). In the days following his Nov. 2 victory, Adams, the former Brooklyn borough president and a former police officer, issued a chain of crypto-friendly statements ranging from …
Bitcoin / Nov. 15, 2021
Proshares Bitcoin futures fund in top 2% of all ETFs for volume
Since its launch on Oct. 19 Proshares’ Bitcoin futures exchange-traded fund (ETF) has been a popular choice with traders, rising to the top 2% of all ETFs in terms of total trading volume. Bloomberg’s Senior ETF analyst Eric Balchunas noted on Nov. 11 that the ProShares Bitcoin Strategy ETF (BITO) had $400 million worth of shares traded yesterday, with its average volume consistently putting it in the top 2% of all ETFs. $BITO and $BTF both had their biggest volume days in about two weeks. $BITO with a $400m traded, which is not only a ton but = 25% turnover …
Etf / Nov. 11, 2021
NYDFS-licensed Standard Custody brings Solana staking to institutions
Standard Custody & Trust Company, a digital asset custodian based in New York, has expanded its crypto offerings to include Solana (SOL), giving institutional investors the ability to stake and custody the world’s sixth-largest cryptocurrency. Beginning Wednesday, institutional investors will have the ability to interact directly with Solana’s rapidly growing ecosystem through both segregated and on-chain accounts, with staking services offered through Figment, an application layer solution provider for institutions. The company said it also plans to provide custody services for Solana Program Library tokens, which are a collection of on-chain programs. Standard Custody is rolling out support for Solana …
Adoption / Nov. 10, 2021
New York coin launching this week with Mayor-elect Eric Adams’ blessing
The NYCCoin is set to launch on Nov. 11 with the community-led proposal endorsed by New York City’s Mayor-elect Eric Adams. The NY-focused cryptocurrency is being launched by CityCoins, the same firm that provides the MiamiCoin. The project utilizes the Stacks Protocol built atop of the Bitcoin blockchain to enable smart contracts and issue its coins. CityCoins tweeted on Nov. 9 that it was activating NYCCoin mining this week after Adams stated on Nov. 4 that he wanted to have a “CityCoin for NYC” like in the case of Miami City. Adams followed that up earlier today by posting that …
Adoption / Nov. 10, 2021
Law Decoded: Which currency is the paycheck of your city’s mayor in? Nov. 1–7
Even though crypto has long attained relevance as an independent political issue, at times it gets entangled with the broader dynamics of the political process. The notorious infrastructure bill — a major pillar of the Biden administration’s economic agenda — suddenly passed in the U.S. House last Friday despite congressional Democrats’ original agreement to vote on the party’s other legislative priorities first. Having passed 228 to 206, the bill is moving to President Biden’s desk. Along with authorization of massive spending on roads, bridges and broadband internet access, it carries a handful of consequential crypto-related provisions that remained unchanged since …
Etf / Nov. 8, 2021
Incoming NY mayor wants crypto taught in schools
New York Mayor-Elect Eric Adams appears to be doubling down on his pro-crypto stance, asserting that that schools should incorporate cryptocurrency studies into their curricula. Speaking during a Nov. 7 interview with CNN’s State of the Union, Adams described cryptocurrency as “a new way of paying for goods and services throughout the entire globe,” urging local schools to equip students for “the new way of thinking” brought about by blockchain technology and digital assets. "We must open our schools to teach the technology, to teach this new way of thinking.” Adams also anecdotally noted surprisingly low awareness of crypto among …
Adoption / Nov. 8, 2021
'Overtime, we will see the NFT market broaden,' says Ripple’s CTO David Schwartz
Nonfungible tokens, or NFTs, have been dominating the crypto market this year. With sales topping over $2.5 billion during the first half of 2021, it shouldn’t come as a surprise that both the crypto community and mainstream creators are launching NFTs in hopes of driving revenue and engagement. The rise of the Metaverse has also pushed the adoption of NFTs, demonstrating the value of nonfungibles for major brands and social media platforms alike. While NFT sales soar, the Ethereum blockchain continues to rule the space. For instance, a recent report from Cointelegraph Research found that Ethereum represented at least 97% …
Adoption / Nov. 6, 2021
New study reveals which US cities lead crypto hires in 2021
Metropolises led the crypto-related hires in the United States during 2021, but jobs in the space are well dispersed around the country, LinkedIn data revealed. A new study conducted by LinkedIn for Bloomberg shows that there is not a single hub for crypto or blockchain specialists in the United States. Searching through LinkedIn members in the U.S. who listed a new job in the first nine months of the year that matched keywords crypto, blockchain, Bitcoin (BTC), Ethereum or Solidity unveiled that about 53% of crypto jobs are dispersed across the States in small chunks. As crypto and blockchain stand …
Adoption / Nov. 5, 2021
NY Mayor-elect Eric Adams will take his first three paychecks in Bitcoin
New York Democrat Mayor-elect Eric Adams revealed on Twitter today he intends to take his first three paychecks in Bitcoin. Adams also doubled down on his plans to make New York the “center of the cryptocurrency industry” after he takes office in January. The clear statement of political support for cryptocurrency came in response to an earlier tweet by Bitcoin podcaster Anthony Pompliano: “Who is going to be the first American politician to accept their salary in bitcoin?” Miami Mayor Francis Suarez, who won reelection earlier this week, replied to the tweet saying that he plans to take his next …
Adoption / Nov. 5, 2021
NYC and Miami mayors duke it out on Twitter over who is the bigger crypto advocate
Newly elected New York City Mayor Eric Adams has reiterated his pledge to make the city a crypto hub by accepting his first three paychecks entirely in Bitcoin. In a Nov. 4 response on Twitter to Francis Suarez — re-elected for another term as of Tuesday — Adams said he would be matching the Miami mayor’s pledge to accept his next paycheck in Bitcoin (BTC) in addition to the following two payments. Assuming Adams accepts a base salary of $258,750, his monthly paychecks would be roughly $21,562 each, a total of 1.05 BTC at a price of $61,268. In New …
Bitcoin / Nov. 4, 2021